by Barbara • Barbara's Blog on August 25, 2015
The busiest July for Orange County real estate in years was certainly evident in 92807 for single family homes. The spring buying season trickled into summer with closed sales being the clear cut winner up a walloping 60% over last year. New listings were down a bit with only 45 new listings hitting the market under last year’s 52. Pending sales ran neck and neck with a slight 7.9% increase as were days on the market until sale with only a slight bump of 7.6% this year. The median sales price for our area was up to $677,500 over last year’s $595,000. Another big winner was the average sales price for July which came in at $893,758 which was a 41.9% rise from last July’s $629,880. The percent of original list price received was fairly constant at 96.2% this year, down from last year’s 97.3%. The inventory of homes for sale was also down 22.9% to 81 as was months supply of inventory which was down to only 2.8 as opposed to 2014’s 3.7 months of inventory.
As we move into the dogs days of summer, we are seeing the typical end of the summer slow down. August being one of the slowest months for real estate, second only to December. Once the kids are back in school, vacations have come and gone and Labor Day has passed, I believe we may see a small flurry of sales activity before the usual holiday season slow down in November and December.
by Barbara • Barbara's Blog on June 17, 2015
Key metrics for single family residences from May 2014 to May of this year have not changed significantly with the exception of new listings that came on the market. This May there were 55 new listings as opposed to only 44 the previous year. Pending sales were neck and neck with 35 last year compared to 36 this year. Closed sales were in a dead heat at 29 each. Days on the market until sale was slightly shorter this year with 62 days on the market over last year’s 69. The median sales price was $670,000 last year and this May it was down to $640,000 which probably reflects the brisk activity of first home purchases this past Spring. The average sales price in Anaheim Hills 92807 down a little over 2% to $723,744.
An important statistic to note is the consistency in the percentage of original list price that is received. This year the sales to list price was 97.9% up from last year’s 96.9%. While this does not take into consideration seller concessions and or down payment assistance, it is important to remember when putting forth an offer. Inventory of homes for sale dropped 17% down to 83 while the months of supply of inventory rose to 3.6 which reflects the end of the Spring slow down we experienced last year.
by Barbara • Barbara's Blog on May 13, 2015
I am often asked when is the best time to start making moving plans and my answer is always the same. The day you decide to move. On that day, you need to start looking at your home differently and begin purging yourself of things that you will not need or want to take with you to your new home. Too many times I have seen many organized home sellers fall victim to the chaos that can accompany a move.
However, with a little planning, organization and adopting a schedule that has served professional movers very well you can check your big move off your to do list with ease. If you follow this simple timeline and advice, any move can be quick, easy and organized:
Three to Four Weeks Prior to Move Day
Estimate How Large a rental truck you will need. In general, allow 150 cubic feet of truck space for each fully furnished room. For example, a 12 foot truck offers 450 cubic feet while a 26 foot truck offers 1,400 cubic feet.
Round up all the packing supplies you will need. Save time by ordering boxes, labels, bubble wrap and packing tape online. Sometimes you can collect boxes at work or ask your local grocery store if they have any you may take. Also, don’t forget to ask me! As your agent, I know of many people who may have just finished moving and have boxes to give away.
Start Packing. Begin with out of season and non essential items. Remember to label the boxes clearly. Again, this is the time to lighten your load. If you haven’t worn or used it in a year, donate it to a charity or hold a yard sale.
Utilize Technology. Did you know that you can use your smartphone to quickly and easily rent a moving truck with Penske’s new mobile rental option? Simple access PenskeTruckRental.com from your smartphone and the site automatically becomes an easy to use mobile version. A few clicks and you’ll have your moving truck reserved for your moving day!
Two Weeks Prior to Move Day
Change Your Address with the post office. Remember to update your address with other important contacts such banks, credit card companies, magazines and professional associations.
Call Service Providers and utilities to discontinue cable TV, trash collection, water, gas and electricity. Consider scheduling cut-off day for a day or two after you move, just in case there is a delay and you still need those services.
Coordinate Your Helpers. Get a crew of family and friends to save the date to help on moving day. You’ll need some strong folks to help move boxes and appliances and some others who are willing to watch children and pets so they don’t get in the way. Short on helpers? Go to www.TaskRabbit.com. It’s a great resource to find reasonable help to assist you with all aspects of your move.
One Day Prior to Move Day
Finish Any Remaining Packing. Pack all your essentials into a suitcase as if you were travelling. This will be the last item you pack and likely the first one you open at your new destination. Include items like checkbooks, credit cards, IDs, glasses, prescription drugs, house keys and other necessities.
Pick up Your Truck Rental the day or evening before the move to save time on moving day. Penske professionals will get you familiarized with your vehicle and help you verify the best driving directions to your new home. They’ll even check the upcoming weather and give you any necessary driving advice.
Pack the Truck. Put the heaviest items on the truck first. When loading and unloading, be sure to bend your knees and lift with your legs, not your back. Work diligently, but be sure to take breaks, stay hydrated and consider wearing a back support belt to avoid strain or injury.
Leave Early. You will run into less traffic and you’ll leave yourself extra time to unload at your destination. Allow yourself time to set up your house, even if that just means setting up your bed and finding the sheets and towels you packed away!
By utilizing this timeline, you will take the guess work, and a lot of the stress, out of moving and be one step closer to enjoying your new home!
by Barbara • Barbara's Blog on April 22, 2015
Once again I would like to share my blog with one of my favorite guest contributors, Michael Hickman, President and CEO of Seven Gables Real Estate. Mike’s review of the statistics and what they mean to you always makes for an interesting read!
The long awaited return of home equity and a real estate market equal to that of 2005 has arrived! Here’s the evidence to support our view. During the month of March pended sales reached a 10-year high of 3,647, up 32.3% (nearly 800 more homes) over March 2014 and closed sales reached 2,637, up 13.7% over 2014. This is remarkable news and worth noting. Underlying this dramatic increase is the decrease of homes for sale across all markets in Orange County. The number of homes decreased from 2014 by 6.5% or 232 homes. This is significant when compared to the dramatic increase in pended and closed sales.
The effect of the ratio between homes pended in March and the number of homes available for buyers to view has shrunk to 1.5 months of supply of homes available. Here’s the question: Has there been a better time in the last 10 years for homeowners to consider selling their home in Orange County? The answer is a resounding NO. The perfect storm is occurring before us. Prices are remaining stable, interest rates remain at or near all time lows, consumer confidence in Orange County is excellent and the unemployment rate is steadily declining below 4.6%.
While the Spring Market is blooming, the shortage of homes for sale for buyers to view is taking its toll as most properties have multiple purchase offers, often exceeding the list or asking price.
In the luxury home market in Orange County (in excess of $1,000,000), the activity is quite different than a year ago. During March 2015, pended sales were up by a staggering 30.6%, closed sales up by 33.6% and the homes for buyers to view increased by 12%. The result of the activity is the lowest amount of inventory of homes currently available in recent years, dating as far back as 2007.
In summary, there has not been a more favorable time for sellers to consider selling their home in the last 10 years than the present. Similarly, home shoppers are in a very good position to purchase at low interest rates with low down payment financing available and prices that are stable for the time being. If the current trend continues home prices will be reflecting an increase that may price homebuyers out of the market.
There is no time like the present. If sellers are considering selling, take this into account as the Millennial Buyer (there are 84 million in this age group) enters the marketplace – a group that represents the largest home buying generation in history, surpassing the Baby Boomer.