Preview Orange County Real Estate Blog - November, 2022

What Homeowners Want To Know About Selling in Today's Market

If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it’s not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. realtor.com ® explains: 

“. . . While prospective home sellers may lament that they missed their prime window, in reality, this is still a terrific time to sell. In fact, according to a recent realtor.com® home seller survey, 95% of sellers who sold their home in the past year got more than they paid for it. 

Nonetheless, some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.” 

330 Views, 0 Comments

Price Reduction! Panoramic Ocean View Luxury Property in Highly Desirable Ritz Cove Community in Dana Point

Prominently Positioned On The 2nd Row In The Highly Desirable Guard Gated Community Of Ritz Cove Offering Panoramic Ocean & Sunset Views. This Dramatic Light & Bright Open Floorplan Features Voluminous Ceilings, Modern Lines, & Expansive Living Spaces Integrating The Outdoor Living Environment With Ocean Views Beyond. Sophisticated In Design With Exquisite Marble Flooring & Designer Touches Complemented By A Sought-After Main Floor Primary Suite Featuring A Spa-Like Bath and 3 Additional Spacious Bedrooms Up A Short Flight Of Stairs. The Highly Upgraded Chef’s Caliber Kitchen Boasts An Oversized Island & Breakfast Bar, Nook Area, & Al Fresco Patio Dining Through Sliding Doors. Additional Highlights Include A Bonus/Game/Potential Theatre Room, New…

343 Views, 0 Comments

Should You Update Your House Before You Sell? Ask us at The Aaronson Group [Infographic]

• Connect with us at The Aaronson Group so you can get answers to these questions about updating your home during today’s housing market. Contact 949-388-5194 or email: info@previewochomes.com

249 Views, 0 Comments

Mortgage Rates Will Come Down, It's Just a Matter of Time

This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of what mortgage interest rates could look like next year. 

Inflation Is the Enemy of Long-Term Interest Rates 

As long as inflation is high, we’ll see higher mortgage rates. Over the past couple of weeks, we’ve seen indications that…

283 Views, 0 Comments

Top Questions About Selling Your Home This Winter

 There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision. 

1. Should I wait to sell? 

Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the national association of realtors (NAR), it shows just how far off we are from flipping to a buyers’ market: 

While buyers have regained some negotiation power as…

385 Views, 0 Comments

Home Equity: A Source of Strength for Homeowners Today

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says: 

“. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.” 

Data from the Mortgage Bankers Association (MBA) helps tell this story. It shows the overall percentage of homeowners at risk is decreasing significantly with time (see graph below): 

But even though the volume of homeowners at risk is very low, there is still a small percentage of…

254 Views, 0 Comments

SOLD! Newly Upgraded 4 Bedroom Townhome in the City of Corona

Boardwalk Townhome end unit. View of Hills! Meticulously maintained tri-level home with a flex-space on the first floor with its own bathroom and storage cabinets. 4 bedrooms, 3.5 bathrooms. Open concept living room with private balcony with upgraded deck flooring. Bright kitchen w/ island, stainless steel appliances, 5 burner stove and white cabinets w/ new hardware. Upgraded new luxury vinyl plank flooring, laundry room with storage. Upgraded all new bathrooms with quartz counters new vanity, hardware, & mirror. Lit staircase. Master suite with an en-suite, large shower & walk-in closet w/ organizers. 2 car attached garage with storage shelves. Whole house CAT 6 Internet. Tankless water heater. Solar blinds. Nest thermostat. Located near the 91 & 15…

206 Views, 0 Comments

Just Listed-Private & Quiet Location with Lake & City Lights in the Beautiful Community of Lakeside Park

Private & quiet location with lake & city lights in the beautiful community of Lakeside Park in the tranquil city of Lake Forest. This spacious 3 bedroom, 2 and a half bath sizable condominium is the perfect family home. Remodeled just a few years ago with designers touches like farmers door in master bedroom's closet, custom cabinets throughout bathrooms & flooring. The upgraded kitchen features cherry colored cabinets, granite countertops, stainless steel appliances & well appointed stone accents. Specious living room area opens to a delightful private patio area, an entertaining retreat highlighted with BBQ island, open views to the lake, city lights & direct access to a greenbelt. Additional amenities include a 2 car carport parking directly in…

406 Views, 0 Comments

Just Listed-Condominium in Private Gated Community of Lake Shores

Explore one of the best locations in the private gated community of lake shores. This 2 bedroom, 2 bath waterfront property boasts lake front location & ground level, single story privacy. The immaculate custom designed interior is complimented by wrap around patio allowing beautiful lake views to fully unfold. This spacious, light & bright open floor plan features modern appointments including warm colors wood floors, cozy fireplace in the family room, travertine, granite countertops, matching white cabinets and upgraded kitchen and baths. The chef’s caliber kitchen opens to the living room and offers lake and mountain views. The rest of the home unveils two spacious bedrooms - large master opens up to the patio where one will appreciate an…

453 Views, 0 Comments

What's Ahead for Mortgage Rates and Home Prices?

Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible. 

Mortgage Rates Will Continue to Respond to Inflation 

There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month. In fact, it’s the first time they’ve risen this high in over 20 years (see graph below): 

In their latest quarterly…

325 Views, 0 Comments