Preview Orange County Real Estate Blog - November, 2023

Home Prices Still Growing – Just at a More Normal Pace

If you’re feeling a bit muddy about home prices, that’s no surprise. Some people still say prices are falling, even though data proves otherwise. Part of that misconception is that people get their information from unreliable sources. But it’s also coming from some media coverage misrepresenting the data.
So, to keep things simple, here’s what you need to know using accurate data you can trust.

Normal home price seasonality explained

In the housing market, predictable ebbs and flows happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically intense in the summer but begins to wane as the cooler months approach.
Home prices follow along with seasonality because…

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Just Listed! Your Dream Home in the Picturesque Hillside Community of Borrego Ridge in Foothill Ranch

Welcome to your dream home in the picturesque hillside community of Borrego Ridge in Foothill Ranch backing to a serene green belt and offering breathtaking panoramic views. This stunning residence offers 3 bedrooms plus loft and 3 bathrooms, providing ample space for comfortable living. As you step inside, you'll be greeted by soaring 2 story ceilings, fresh new paint in today’s colors, new flooring throughout and loads of light flooding this beautiful home. The upgraded kitchen is a chef's delight, featuring stainless appliances, sleek countertops, elegant cabinetry and opens to the family room. The spacious primary suite features raised ceilings, a well-appointed bath, and a new balcony perfect for relaxing and soaking in the incredible…

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In Escrow!-Newly Remodeled Home in a Private End of the Community in Aliso Viejo

This newly remodeled home is a stunning space that has been completely transformed. The interior has been thoughtfully designed with modern finishes and high-quality materials, new flooring & new paint. The kitchen features sleek countertops, stainless steel appliances, and ample storage space. The bathrooms have been beautifully renovated with stylish fixtures and luxurious tiles. The living areas are spacious and filled with natural light, creating a warm and inviting atmosphere. This incredible 2 bedroom plus loft end unit location overlooking lush greenbelts with lots of privacy & serene views from every room! Light & bright open floorplan features vaulted ceilings and numerous windows allowing the flow from the living room, dining area & kitchen…

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The Latest 2024 Housing Market Forecast

The new year is approaching, and you might wonder if 2024 will be the right time to buy or sell a home. To make the most informed decision possible, it's essential to know what the experts say about what's ahead for the housing market. Spoiler alert: the projections may be better than you think. Here's why.

Experts Forecast Ongoing Home Price Appreciation

Take a look at the latest home price forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR):

As you can see in the orange bars on the left, on average, experts forecast prices will end this year up about 2.8% overall and increase by another 1.5% by the end of 2024. That's big news, considering many people thought prices…

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Just Listed!-Experience Contemporary Luxury In This Exquisite and Vibrant Home in Laguna Beach

Experience Contemporary Luxury In This Exquisite and Vibrant Home Commanding Unobstructive, Panoramic Ocean, White Water, Coastline, Catalina & Palos Verdes Views. Prominently Positioned In Lower Victoria Beach With Sounds Of The Ocean and Only Steps Away From One Of The Most Sought-After Beaches In All Of California. This Sophisticated Designed Home By Famed Architect Horst Noppenberger Features Voluminous Ceilings, Abundance Of Fleetwood Windows & Doors Flooding The Spaces With Natural Light, and Refined Materials Throughout. The Dramatic Living and Dining Area Features A Custom Fireplace & Multi-Slide Door Systems Which Seamlessly Blend The Indoor and Outdoor Spaces. The Chef’s Caliber Kitchen Boasts Quartz Counters, Subzero & Wolf Appliances,…

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Home Price Growth Is Returning to Normal [INFOGRAPHIC]

Some Highlights

• If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.  
• Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on.
• Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you're curious about prices in your area, reach out to The Aaronson Group for answers.  Call 949-388-5194 or email info@previewochomes.com

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Don’t Believe Everything You Read About Home Prices

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?

It has much to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash, and those concerns remain lingering. You may be hearing people in your own life saying they’re worried about home prices or see on social media that some influencers are saying prices will come tumbling down.

If you’re someone who still thinks prices are going to fall, ask yourself this: Which is a more reliable place to get your information – clickbait headlines and social media or a trusted expert on the…

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Foreclosures and Bankruptcies Won’t Crash the Housing Market

If you've been following the news recently, you might have seen articles about increased foreclosures and bankruptcies. That could make you feel uneasy, especially if you're thinking about buying or selling a house.

But the truth is, even though the numbers are going up, the data shows the housing market isn't headed for a crisis.

Foreclosure Activity Rising, but Less Than Headlines Suggest

In recent years, the number of foreclosures has been deficient. That's because, in 2020 and 2021, the government put the forbearance program, and other relief options were put in place to help many homeowners stay in their homes during that tough time.

When the moratorium ended, there was an expected rise in foreclosures. But just because they're…

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For Lease! Beautiful Glencove Home Located In The Sought After 24 Hour Guard Gated Community Of San Joaquin Hills

Beautiful Glen Cove Home Located In The Sought After 24 Hour Guard Gated Community Of San Joaquin Hills. Light & Bright Open Floorplan With Dramatic 2 Story Ceilings & Stunning Architectural Details. Gourmet Kitchen Features A Center Island, Rich Cabinetry, Fisher & Paykel Stainless Steel Appliances Including a Double Oven, Dual Dishwashers & 5 Burner Cooktop. Spacious Kitchen Nook Area Flows Through To The Expansive Family Room With Elegant Fireplace & Media Niches. Pool Size Rear Yard Includes Detailed Landscaping & Patio With Slate Accents. Other Desirable Amenities Include 2 Resort Style Pools & Spas, Generous Park With Tot Lot, Sport Court & More. Award Winning Schools, Parks, Shopping, Freeways & Beaches Nearby.

Contact us for full details…

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