Preview Orange County Real Estate Blog - June, 2023

Home Maintenance Tips

Here is a list of tasks for inside and outside the home.

Outdoor Home Maintenance-

1. Power Wash Your Driveway and Sidewalks

A great place to start with summer home maintenance is to thoroughly inspect and clean your sidewalks, deck, patio, and driveway. The key to cleaning these areas is to use a pressure washer. Before you start power washing, checking these areas for cracks and weeds is a good idea. Once you have given everything a full inspection, wash away all the dirt, mold, and grime.

If you don't own one, you can check with your local home improvement store about renting a pressure washer.

2. Clean Out Gutters and Downspouts

It is best to do a soft washing for screens, outdoor wood furniture, and cedar, wood, or vinyl siding.…

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Are Home Prices Going Up or Down? That Depends…

Media coverage about what’s happening with home prices can be confusing. The confusion comes from the type of data used and what they choose to draw attention to. For home prices, two methods to compare home prices over different periods: year-over-year (Y-O-Y) and month-over-month (M-O-M) are the data. Here’s an explanation of each. 

Year-over-Year (Y-O-Y):

• This comparison measures the change in home prices from the same month or quarter in the previous year. For example, if you’re comparing Y-O-Y home prices for April 2023, you would compare them to the home prices for April 2022.
• Y-O-Y comparisons focus on changes over one year, providing a more comprehensive view of long-term trends. They are usually useful for evaluating annual growth…

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Home Prices Didn’t Crash After All

During the fourth quarter of last year, many housing experts predicted home prices would crash this year. Here are a few of those forecasts:

Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:

"I expect housing prices to fall 10% to 15%, and the prices are accelerating on the downside."

Mark Zandi, Chief Economist at Moody's Analytics:

"Buckle in. Assuming rates remain near 6.5% and the economy skirts recession, national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner rather than later. And house prices will fall 20% if there is a typical recession." 

Goldman Sachs: 

"Housing is already cooling in the U.S., according to July data last week. As…

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SOLD! Panoramic Hills and Ocean View Home on Temple Hills Drive, Laguna Beach

Almost to the top of Temple Hills Drive with panoramic hills to ocean views. There is so much potential for this huge lot to make this an amazing property! Technically 3 bedrooms but two offices and large bonus room theater could be converted to make 6 bedrooms. The property is a split floor plan 3 bedrooms down, office/additional bedroom with bath on entry way. 

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The Main Reason Mortgage Rates Are So High

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: 

1. Why Are Mortgage Rates So High?
2. When Will Rates Go Back Down?

Here’s the context you need to help answer those questions.

1. Why Are Mortgage Rates So High? 

The supply and demand for mortgage-backed securities (MBS) influence the 30-year fixed-rate mortgage. The supply and demand for mortgage-backed securities (MBS). According to Investopedia: 

“Mortgage-backed securities (MBS) are investment products similar to bonds. Each MBS consists of a bundle of home loans and…

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The Benefits of Selling Now, According to Experts

Here's what you should know if you're trying to decide if now's the time to sell your house. First, the limited number of homes available now gives you a significant advantage. That's because there are more buyers out there than homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house.

Here's what industry experts are saying about why selling now has its benefits:

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):

"Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties."

Selma Hepp, Chief Economist at CoreLogic:

"We have yet to see the traditional…

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SOLD! Immaculate 3.5 acre Mediterranean-style Gated Estate in The Prestigious Hunt Club Community

On behalf of the buyer, The Aaronson Group sold  27791 Golden Ridge Lane, San Juan Capistrano, Orange County, California (MLS® #OC23072862) for $5,150,000

This spectacular, immaculate and private, 3.5 acre gated estate on 3.5 manicured acres offers the most dramatic and panoramic views in the Hunt Club. Recently completed $500,000 renovation using only the highest quality materials and craftsmanship with no expense spared. Arrive via gated motor court with parking for 10+ cars and enter through 12’ iron doors into a hotel-style lobby entrance with soaring 20’ ceilings and unobstructed views of Marbella CC golf course, city lights and rolling hills. Recent upgrades includes interior paint, wainscoting/moldings, built-ins, solid core 8’ doors,…

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