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Summer Lynne Perry's Blog

By Summer Lynne Perry | Broker in Newport Beach, CA
  • Orange County Home Sales Prices up 7% in One Year…

    Posted Under: Home Buying in Corona del Mar, Foreclosure in Corona del Mar, Investment Properties in Corona del Mar  |  October 8, 2012 4:27 PM  |  216 views  |  No comments

    Orange County Home Sales Prices up 7% in One Year…

    OC Register, October 8th, 2012

    For the 22 business days ending September 20 — the latest numbers — Orange County’s real estate market saw …

    • Total Orange County sales of 3,159 residences closed in the latest period — that is up 18.9% vs. a year ago.
    • Re-sales of single family homes were up 19.1% vs. last year; condo sales rose 21.3% vs. year ago. Builders’ new homes were 4.8% higher in the same period.
    • Current price is at 2011′s peak (May and July) of $450,000; +13% above end of 2011′s median ($400,000.)
    • The most recent median is 22% above the cyclical low hit in January 2009 at $370,000 — so the median has recouped 29% of the $275,000 price drop from the peak.
    • Here’s the breakdown of recent activity by key category; included is how the latest results compare to the average monthly sales pace from 1988 through 2011:

      Slice

      Price

      Price vs. year ago

      Sales

      Sales vs. year ago

      Sales vs. ’88-’11 avg.

      Houses

      $515,000

      +9.1%

      2,117

      +19.1%

      -5.1%

      Condos

      $295,000

      +11.3%

      888

      +21.3%

      3.9%

      New

      $617,500

      +3.8%

      154

      +4.8%

      -69.9%

      All O.C.

      $450,000

      +7.1%

      3,159

      +18.9%

      -12.2%

  • 39 Days of Supply in "Crazy" OC Home Market...

    Posted Under: Home Buying in Orange County, Foreclosure in Orange County, Investment Properties in Orange County  |  October 7, 2012 6:16 PM  |  141 views  |  No comments

    39 Days of Supply in “Crazy” OC Home Market…

     Source: OC Register, October 1, 2012. Jon Lasner

    . It tends to increase with the transition from the Summer to Autumn Market, but not right now. Instead, it has been continuously dropping for the past three months. Let’s put the current market into proper perspective. A balanced market has an expected market time right around five months. At just 39 days, it is a deep seller’s market.

    • .
    • Of the 8 Orange County pricing slices tracked, 7 had faster market time vs. 2 weeks ago; and 8 improved over a year ago.
    • .
    • So, basically, it is 4.5 times harder to sell a million-dollar-plus residence!
    • And just so you know, the million-dollar market represents 30% of all homes listed and 9% of all homes that entered into escrow in the past 30 days.

    Slice

    Listings

    Deals

    Market Time (months)

    2 week ago

    1 yr. ago

    2 yr. ago

    $0-$250k

    538

    571

    0.94

    1.00

    2.84

    3.15

    $250k-$500k

    1,094

    1,463

    0.75

    0.78

    2.68

    3.37

    $500k-$750k

    895

    785

    1.14

    1.30

    3.93

    4.42

    $750k-$1m

    591

    266

    2.22

    2.51

    6.11

    5.98

    $1m-$1.5m

    445

    148

    3.01

    3.23

    6.85

    6.90

    $1.5m-$2m

    264

    68

    3.88

    4.66

    10.05

    12.63

    $2m-4m

    394

    56

    7.04

    6.26

    14.94

    14.28

    $4m+

    232

    19

    12.21

    19.75

    35.88

    31.00

    All O.C.

    4,416

    3,366

    1.31

    1.40

    3.61

  • Tiny Gain Forecasted for OC Home Prices in Year… (Any gain is good news for potential home-buyers)

    Posted Under: Home Buying in Orange County, Foreclosure in Orange County, Investment Properties in Orange County  |  July 16, 2012 4:44 PM  |  134 views  |  No comments

    Source: OC Register, July 16th, 2012

    Veros Real Estate Solutions predicts that Orange County home values will squeak out a tiny gain the next 12 months. Eric Fox of Santa Ana-based Veros says the company’s model showing Orange County home value rising 0.7 percent by June 2013.

    Fox notes that local inventory of homes for sale is down approximately 35 percent from the peak, “which is going to allow pricing to begin to trickle upwards. However, before significant price increases can occur, inventory must decline some more. Affordability, although better than it has been in a long time, is still pricey compared to many other markets which are recovering more significantly at this time.”

    Phoenix is the major market with Veros’ highest projected gain in the coming year, up 6.4 percent. Then comes Boise, up 3.8 percent; Boulder, Colo., up 3.6 percent; Bismark, N.D., up 3.5 percent; and Denver, up 3.3 percent.

    Although this increase is small, it is still positive news. I have seen projected increases as high as 7% for OC next year but at the end of the day, all signs are trending upwards… Please call me with any questions!

  • Weekly Financial and Market Update

    Posted Under: Home Buying in Newport Beach, Foreclosure in Newport Beach, Investment Properties in Newport Beach  |  May 9, 2012 11:52 AM  |  182 views  |  No comments

    Surterre’s Weekly Financial and Market Update

    Week Ending 5/10/2012/2012

    “Glass Half Full” Perspective

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 5/6/2012

     

    Jeff Collins

     

    “HOME SALES JUMP $58 MILLION IN 2012”

     

    Orange County home sales generated $3.18 billion in the first quarter of 2012. That is up nearly $58 million

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 5/6/2012

     

    Jonathan Lansner

     

    “HOMEBUYERS SPRINGING TO LIFE THIS SEASON”

     

    Newport Beach-based Surterre properties says it recorded a company-record $376 million in residential real estate sales in the first quarter. Also, Surterre’s first quarter new escrows jumped 70 percent in a year to $544 million from $321 million in 2011’s first three months.

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 5/6/2012

     

    Jeff Collins

     

    “DISTRESS DOWN 61%”

     

    Distressed properties were 23 percent of Orange County homes listed for sale as of April 26 and 48 percent of the residences recently put into escrow. Today there are 1,399 total short sales and foreclosures on the active listing inventory. Last year at this time there were 3,834.

     

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/29/2012

     

    Jeff Collins

     

    “IS THE FORECLOSURE CRISIS OVER?”

     

    By almost any measure, foreclosures have dropped dramatically in the past several months, prompting some observers to say that the foreclosure crisis may be nearing an end.

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/22/2012

     

    Jonathan Lansner

     

    “FORECLOSURE SALES DOWN SHARPLY”

     

    Analyst dismisses another wave of distressed properties. California property owners are losing homes to foreclosure at half the 2011 pace

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/22/2012

     

    Jonathan Lansner

     

    “INVESTORS BUYING HALF OF O.C. FORECLOSURES”

     

    As the number of orange County foreclosures drop, the proportion of investors buying the properties at auction is on the rise…

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/22/2012

     

    Jonathan Lansner

     

    “TREND”

     

    Ladera Ranch had O.C.’s shortest market time at 21 days, Laguna Beach was the longest at 5.74 months

     

    ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/22/2012

     

    Jonathan Lansner

     

    “O.C.HOUSE SELLERS IN SHORT SUPPLY”

     

    The housing question of 2012: “Where did all the sellers go?”

     

    ORANGE COUNTY REGISTER FRONT PAGE 4/19/2012

     

    Jonathan Lansner

     

    “HOME SALES BEST SINCE 2007”

     

    O.C. volume jumped 9.2% in a year…

     

    LOS ANGELES TIMES BUSINESS SECTION 4/18/2012

     

    Alexandro Lazo

     

    “HOME SALES CLIMB IN REGION”

     

    March purchases rise 2.8% year over year.

 
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