OCTeam's Blog: All Categories

The Orange County real estate market has seemingly become more active in the last several weeks . Buyers are once again writing offers as many sellers are getting more realistic with how they price their home for sale.  In fact, many of the short sale and bank owned properties are getting mulitple offers.  In several cities, inventory of available homes for sale is actually down to the level of a year ago and pending sales have increased. Such is the case in San Clemente and Laguna Niguel.

If you are a potential buyer or seller wanting to become familiar with the local market trends as the market offers new opportunities, Orange County community statistics can be found on one easy to use page at Orange County Communities.  You will find how many homes are…

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Laguna Beach is considered one of the most desirable beach front communities on the South Orange County, California coastal "Riviera Gold Coast" area, this is the place many desire to live. Art galleries, trendy up scale restaurants, fabulous art galleries and boutique shops are just a few of the reasons that make this an international destination and second homes to many wealthy investors.  

What's the latest in the Laguna Beach real estate market? Let take a look at why Laguna Beach is considered by many as an exclusive, luxury community with the average sales price of $3,235,216 in January 2008.

New listings in Laguna Beach increased by 33 percent comparing January 2008 to January 2007 and the number of homes that sold decreased by 31 percent.…

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The San Clemente average sales price in January 2008 dropped 13 percent compared to January 2007, bringing the average price to $941,872. The number of new listings decreased 32 percent, while sales decreased 27 percent. Meanwhile, the average market time increased 16 percent, with average market times of 116 days vs. 100 days in 2007.

San Clemente

 New
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DOM  January  2008  131  30  $941,872  116  January  2007  193 … Read Full Post

Happy Valentine's Day to many potential home buyer's in Orange County, Ca. This just could be the sweetest day of the year for our housing market.. or the best gift you can give to your sweetheart!

President Bush signed the economic stimulus package that will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac to offer mortgages above the current conforming loan limit of $417,000 to as much as $729,750 in high-cost areas for loans originated between July 1, 2007 and Dec. 31, 2008. This may now put the dream of home ownership in reach for thousands of home buyers in the Orange County, Ca area where a "starter" home may be over $600,000 in many areas.

Assuming that U.S. Housing and Urban Development Secretary Alphonso Jackson…

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The 90-residents of the Capistrano Shores Mobile Home park are the new owners of the estimated 7/10 (0.7)  mile of beachfront property in North San Clemente where their modular homes currently sit.  The property, owned by Amherst College, had been leased on a monthly basis to each home owner for thouands of dollars each month.  On January 25, Amherst College sold the property to the 90-home owners for a rumored $100 million (or almost $15,000,000 for each 1/10th mile of sand).

The lots run about 1,000 - 1,500 square feet where some 88 of the modular homes are second homes. While just speculation, some might guess each beach front site might be worth $2.4 million each once the North Beach Development and Marblehead on the Coast project is completed. Quite…

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As of December 31, the newer community of Ladera Ranch in Orange County, California has a total of 316 residential properties listed for sale that show up through the SoCal MLS - IDX results at Ladera Ranch Real Estate . Upon further investigation, and what is almost shocking, is that  Bank Owned (REO) properties or homes listed for sale as Short Sale properties total 64 or just over 20% of the total homes for sale in Ladera Ranch. These Bank Owned or Short Sale properties can be viewed at  Ladera Ranch Bank Owned Properties .

This has a huge financial and emotional impact on families and children, as well as the local economy,  the local real estate market and lenders overall.  The Holiday Season for many of these home owners was probably not a…

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Sales Statistics for Orange County, CA

According to Realist's most recent recording date of December 17, 2007, the number of Orange County Single Family Home sales fell 35% when comparing recorded sales of Nov 2006 to Nov 2007. Median Sales Price stayed about the same compared year-to -year as well as year-to-date compared to 2006.

Condominium sales fell about 33% during the same time period. The Condo Median Sales Price was 6% lower compared year-to -year and has remained the same year-to-date compared to 2006.

The chart below shows the specific numbers for comparison.

With the numerous bank owned, REO and short sale properties now on the market, it will be interesting to see how the first quarter of 2008 compares to 2007. Most of the short sale or…

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As of December 29, San Clemente currently has 55 properties listed that are Bank Owned or are being offered as Short Sale properties out of some 500+ properties in total listed for sale. The properties can be viewed at San Clemente Bank Owned Properties .

Out of the 55 total described above, some 32 (almost 60%) are located in the newer area Talega of San Clemente.  These properties can be viewed at Talega Bank Owned Properties.

While just over 10% of all San Clemente listings are being offered as a short sale or bank owned, Talega is 6% of the total. Unfortunately, the new home community of Talega attracted many young buyers who got short-term interest only loans, sometimes for 100% of the original purchase price. With the upward index adjustment of…

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