Now that half the year is over, it’s time to take a look at how close to (or far from) reality my predictions were that I made in my December post about 2008 real estate activity. You can go back to read my justifications for each prediction, but this analysis will only address the basic…
Category Archives: Market Conditions
Should you Sell or Lease Your Orange County Home?
In Orange County today, as well as many other places, there are home owners who are going through the difficult decision process of whether to sell their current home, or lease it and wait for a better time to sell. Some of these people have taken a job out of the area and will not…
Sellers – When you get an offer respond quickly!
In the current market, when a buyer makes an offer on a property, it is in the seller’s best interest to respond quickly. The buyers today are not impulsive, frenzied, or in a panic to “buy now or be priced out forever.” If any urgency is felt by a buyer, it is more likely based…
Orange County Real Estate Market Improvement!
The market for homes in Orange County, California, finally seems to be waking up from a long slumber. While the closings for May didn’t set any records, the new pending escrows have improved substantially in the last month. When evaluating the overall market in Orange County, I look at all cities, and residential (not multi-unit…
Lake Forest Market Report – June 1, 2008
Based on the levels of inventory, it looks like we are shifting back toward a seller’s market in Lake Forest! When the ratio of active listings to sales, or new escrows gets down below 6 months, it has generally been considered a market that favors sellers. This doesn’t mean that prices are likely to rise…
Lake Forest Market Conditions
Market activity in Lake Forest finally seems to be starting to show some signs of life. We are still substantially below our historic levels of 90 – 100 sales per month, but have made some significant improvement since the miserable numbers in January and February this year. The “Distressed” properties (foreclosures and short sales) make up…
South Orange County Real Estate Market Conditions
The market is picking up, no matter what the bubble bloggers are saying! Sometimes, people make decisions that are not based on rational, logical methodology, but on feelings and emotions. People want a place to live that they can call their own. Where they can feel safe and secure from the cold, or wet, or…
Lake Forest Market Conditions – 4/6/2008
The Lake Forest real estate market is tough right now – for sellers, for buyers & for agents! While there are a lot of listings active on the MLS, when they are divided up by size, price, and locations, there really isn’t much to choose from. Today, out of 344 properties on the market, 58%…
Lake Forest Market Conditions 3/12/2008
I have some good news & bad news about the Lake Forest real estate market. Today, there are 74 homes in escrow! That is more than we have seen for quite a while, so there is hope that the “spring market” is actually coming alive! Hopefully, with the new loan limits, and the Fed pouring…
Selling Your Lake Forest Home – Big Mistakes to Avoid
There are so many ways to not sell your Lake Forest home in this market, that there is no excuse to make the most common ones! If you’re going to fail at selling your house, please come up with something more original than these : Don’t clean it up- just leave the beds un-made, dishes…