Today, I’d like to share with you the confidence that I have in the Orange County real estate market. I firmly believe that there are opportunities available now that, quite frankly, don’t come around very often.
It is true that the recent unpredictable nature of the stock market has caused a decrease in consumer confidence. However, pull back and adjustment in various real estate price ranges is due more to the buying opportunities offered because of low interest rates than it is to changes of direction in the stock market. The reduction in the 10-year bond has moved mortgage rates down almost 1 percent, which equates to an overall reduction in value of about 10.4 percent in leverage.
For example, a house priced at $500,000 purchased with essentially the same down payment is now being purchased for $448,000 based upon its payment. Although the price may not have come down, the reduction of interest has brought the payment equal to buying the house at $448,000. This works in a similar fashion for new home sales. Even though new home construction is still in its recovery stage, the Orange County new home market shows a significant surge in sales, up 56 percent—the highest increase in two years.1
Opportunity is knocking loudly for the move-up buyer, new homeowner and the investor. Let Coldwell Banker Residential Brokerage assist you in finding your next home or investment. Our agents have the confidence and experience to guide you through this ever changing market. Visit www.OCViewOnline.com and www.CaMoves.com to find an agent and to browse our fine properties for sale.
1 “O.C. buyers grab 56% more new homes.” OCRegister.com, June 2, 2010. http://tiny.cc/axjr4.
As residents of Orange County, we enter into the summer months with the excitement of beautiful weather, pool parties, barbeques, beach trips and summer vacations. It is also the perfect time to concentrate a portion of that healthy energy by planning on your future in Orange County real estate ownership. The Orange County real estate market continues to improve and show stability in 2010. That’s why we at Coldwell Banker are looking forward to a summer of positivity.
Variances city to city in Orange County have created some concern over pricing fluctuations. However, Orange County is still 6 percent as a county higher than March 2009, the largest increase since September 2006.1 Orange County’s inventory is a wealth of properties—whether it’s a first home, vacation home, or investment property, the summer months will surely see unit movement by savvy and ambitious buyers. Buyers should note that our county is still one of the most desirable in Southern California and is one of the smartest real estate choices. The 2010 1st quarter ending median home price in Orange County was $487,000, nearly 3 times that of the nationwide median price. The median price also ranks in the top 5 median prices nationwide.2
Coldwell Banker has the established brand strength and world-class resources to offer a level of service unmatched in the industry. Visit www.OCViewOnline.com and www.CaMoves.com today to search our fine properties and find any one of our experienced real estate professionals. In addition, don’t forget to ask about the California Homebuyer Buyer Tax Credit on the purchase of new or existing homes between May 1, 2010 and July 31, 2010.
1 “LA/OC home price takes back-to-back dip.” OCRegister.com May 25th.
I am proud to announce, that once again, we are number 1. NRT LLC, the parent company of Coldwell Banker Residential Brokerage, is ranked as the top residential real estate brokerage firm in the United States, according to the REAL Trends 500 annual survey. View the survey at: http://www.realtrends.com/rt500-rankings.
Ranked by closed sales volume and closed transaction sides for 2009, this marks the 13th consecutive year NRT LLC has earned the top spot in both categories nationwide. The success of our company is due to the dedication of our real estate professionals to provide the highest level of service to each and every client. Also, we provide them with the best tools in the industry to market your home to the right audience.
Let Coldwell Banker Residential Brokerage assist you in finding your next home or investment. Visit www.OCViewOnline.com to find an agent and browse our fine properties for sale. In addition, don’t forget to ask about the California Homebuyer Buyer Tax Credit on the purchase of new or existing homes between May 1, 2010 and July 31, 2010.
It is my pleasure to announce the current Top 50 agents for Coldwell Banker Orange County. Based on the 2010 year-to-date gross commission income, these rankings highlight the best of the best among our Orange County real estate professionals. I would like to personally congratulate and commend these agents for their unwavering dedication and professionalism in helping bring together buyers and sellers, continually upholding the ideals of integrity, quality service and customer care upon which our business is built.
Nancy Barfield
Tony Bartos
Kathy Beilstein
Debi Bibb
Greg Bingham
Chris Brigandi
John Campbell
Tim Carr
Steve Celotto
Evan Corkett
Winston Covington
Steve Diamond
Lyleen Ewing
Ron Felsot
Jason Godoy
Sharon Grimes
Scott Gunther
Teri Hardke
Gary Hesselgesser
Steve High
Melinda Jones
Jack Katangian
Jerry LaMott
Mac Mackenzie
Ray McAfoose
John McMonigle
Susan Miller
Janet Panichi
Matt Perry
Conrad Peterson
Keith Randle
Marilyn Read
Kay Roberts
Vaughn Safford
Heather Saito
Fara Salamat
Susan Scanlan
Bill Schonlau
Tim Smith
Jerry Snyder
Sue Stanton
Julie Stevens
Josef Szigeti
Elizabeth Thamer
Jerry Thomas
Leslie Thompson
Michelle Ultimo
Brett Wyland
Boker Yaruss
Richard Yates
Each and every one of our Coldwell Banker sales associates is a vital asset to our business and to the Orange County real estate community. I thank all of our valued associates for the hard work and determination they have demonstrated in the face of a challenging real estate market. When you are looking to buy or sell a home, choose Orange County’s premiere residential real estate brokerage. Visit wwwOCViewOnline.com today to meet one of our many knowledgeable and professional sales associates.
According to real estate information service MDA DataQuick, filed Notices of Default declined 4.2 percent during the first three months of the year from the fourth quarter of 2009 and a 40.2 percent drop from the record level seen a year ago.1 With home prices stabilizing and starting to gradually increase in many markets,
this is a great time to buy a home before all of the bargains disappear.
Other good news includes the fact that according to the National Association of Realtors®, existing-home sales rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February. That was also about 16 percent higher than in March 2009.2 Locally, the median price paid for an Orange County home was $432,000 last month, up 12.2 percent from $385,000 in March 2009.3
Add in the California Tax Credit and there has rarely been a better time to buy real estate. Contact your experienced and knowledgeable Coldwell Banker agent for the most current market information and to find out about the exciting opportunities for home ownership. You may also visit www.OCViewOnline.com to search for your next dream home.
1. Inman News. “Dropoff in California Foreclosures.” April 22, 2010. www.inman.com.
2. Armour, S. (2010, April 22). “Existing-home sales rise 6.8% in March; tax credit less help?” www.usatoday.com.
3. DQNews.com. “More Incremental Gains for Southland Real Estate Market.” April 13, 2010. www.dqnews.com.
According to real estate information service MDA DataQuick, filed Notices of Default declined 4.2 percent during the first three months of the year from the fourth quarter of 2009 and a 40.2 percent drop from the record level seen a year ago.1 With home prices stabilizing and starting to gradually increase in many markets, this is a great time to buy a home before all of the bargains disappear.
Other good news includes the fact that according to the National Association of Realtors®, existing-home sales rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February. That was also about 16 percent higher than in March 2009.2 Locally, the median price paid for an Orange County home was $432,000 last month, up 12.2 percent from $385,000 in March 2009.3
Add in the California Tax Credit and there has rarely been a better time to buy real estate. Contact your experienced and knowledgeable Coldwell Banker agent for the most current market information and to find out about the exciting opportunities for home ownership. You may also visit www.OCViewOnline.com to search for your next dream home.
1 Inman News. “Dropoff in California Foreclosures.” April 22, 2010. http://www.inman.com/.
2 Armour, S. (2010, April 22). “Existing-home sales rise 6.8% in March; tax credit less help?” http://www.usatoday.com/.
3 DQNews.com. “More Incremental Gains for Southland Real Estate Market.” April 13, 2010. www.dqnews.com.
Watch Realogy CEO Richard Smith appearing on CNBC along with Yale economics professor Robert Shiller as they discuss whether the housing market will continue its rebound.
I am pleased to announce the launch of the Buyer Bonus Sales Event—a national promotion intended to build on the momentum of the soon-to-expire federal homebuyer tax credit.
In a recent survey of Coldwell Banker real estate professionals, nearly half indicated that they had worked with home buyers who would have missed out on the home buyer tax credit in November of last year had it not been extended. In addition, while 34 percent cite the current tax credit extension – expiring April 30 – as the primary reason their customers are still searching for a home, 28 percent said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.
That is why on May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent – up to $10,000 – when part of an accepted offer off their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.
“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, President and Chief Executive Officer for Coldwell Banker Real Estate LLC. “As the credit expires, Coldwell Banker real estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”
“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”
To find a participating property or to find out how your home can participate in the event, please visit www.OCViewOnline.com or contact your local Coldwell Banker agent.
Every now and then I take a break from discussing real estate to focus on some of the other important facets of living in Orange County. While we are blessed with many things – great weather, wonderful events and great communities – we live in an area at risk for earthquakes, brush fires and other natural disasters. And with the recent surge of major earthquakes across the world, there is no better time to become prepared for the next disaster than now.
The Orange County Red Cross recommends every home should have plans in place on how to deal with the various disasters that can strike. According to the Red Cross, part of a disaster plan is to have two emergency kits: one for the home and one for the car. The home kit should be stored in an easily accessible location and placed into a mobile, watertight container such as a wheeled trash barrel. The car kit should be in an easily carried pack, such as a backpack, and each kit should have an identification tag for each person.
The Red Cross suggests the following items for both the home and car kits:
- First aid kit and essential medications.
- Canned food and can opener.
- At least three gallons of water per person.
- Protective clothing, rainwear, and bedding or sleeping bags.
- Battery-powered radio, flashlight and extra batteries.
- Special items for infant, elderly, or disabled family members.
- Written instructions for how to turn off gas, electricity, and water if necessary.
- Keeping essentials, such as a flashlight and sturdy shoes, by your bedside.
To view the complete list and learn more about how to prepare for any potential disaster, visit the Red Cross Web site at www.oc-redcross.org.
Other disaster planning tips include registering for Alert OC, the mass notification system designed to keep Orange County residents and businesses informed of emergencies. Also, contact your city and ask about the Community Emergency Response Team program (CERT) and how you can participate.
I’d like to take a moment and thank Jim Gillespie, President and Chief Executive Officer of the Coldwell Banker national brand, for sharing about our wonderful relocation services (1.800.833.7356). His vision and leadership at the national level has enabled many of the successes we have had in Orange County. One of those successes has been our YouTube channel.
Coldwell Banker’s YouTube channel, “Coldwell Banker® On Location,” is YouTube’s most visited real estate channel with over 1 million views. Since its launch in May 2009, the channel has set a high bar for competing real estate companies. Coldwell Banker® On Location has posted more videos than any other real estate brand—11,000 to date.
Videos include: home tours, neighborhood features, local market conditions and trends, tips for homebuyers and sellers and much more.
Coldwell Banker® On Location is fully interactive allowing you to search for videos through a special map feature developed specifically for the site. The map widget gives you the ability to easily search for videos located in the area you are interested in by dragging the blue map icon to the city or neighborhood of your choice. Alternatively, you can search by typing the city, state or zip code in the “Look up videos by location” search box.
These easy to use search options make finding your next home on YouTube hassle-free.
To learn more about Coldwell Banker and YouTube or to find your next home, visit www.youtube.com/coldwellbanker or www.OCViewOnline.com to search for open houses, area offices and to browse through our directory of experienced sales associates.
Recent Rash of Earthquakes Signals Time to be Prepared
April 24th, 2010Every now and then I take a break from discussing real estate to focus on some of the other important facets of living in Orange County. While we are blessed with many things – great weather, wonderful events and great communities – we live in an area at risk for earthquakes, brush fires and other natural disasters. And with the recent surge of major earthquakes across the world, there is no better time to become prepared for the next disaster than now.
The Orange County Red Cross recommends every home should have plans in place on how to deal with the various disasters that can strike. According to the Red Cross, part of a disaster plan is to have two emergency kits: one for the home and one for the car. The home kit should be stored in an easily accessible location and placed into a mobile, watertight container such as a wheeled trash barrel. The car kit should be in an easily carried pack, such as a backpack, and each kit should have an identification tag for each person.
The Red Cross suggests the following items for both the home and car kits:
- First aid kit and essential medications.
- Canned food and can opener.
- At least three gallons of water per person.
- Protective clothing, rainwear, and bedding or sleeping bags.
- Battery-powered radio, flashlight and extra batteries.
- Special items for infant, elderly, or disabled family members.
- Written instructions for how to turn off gas, electricity, and water if necessary.
- Keeping essentials, such as a flashlight and sturdy shoes, by your bedside.
To view the complete list and learn more about how to prepare for any potential disaster, visit the Red Cross Web site at www.oc-redcross.org.
Other disaster planning tips include registering for Alert OC, the mass notification system designed to keep Orange County residents and businesses informed of emergencies. Also, contact your city and ask about the Community Emergency Response Team program (CERT) and how you can participate.
Tags: alert OC, disaster kit, earthquake, red cross
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