Preview Orange County Real Estate Blog - March, 2024

Price Adjustment! Exceptional Ocean Front Property on Beach Road in Dana Point

This exceptional home offers a heightened beachfront living experience, situated in a 24-hour guard gated community with direct ownership of the beach up to the medium high tide line. Constructed on caissons, the sophisticated and stylish ambiance of the home is evident both inside and out, with new elegant lighting throughout, custom wrought iron railings, frameless glass balcony/deck railings, fresh interior & exterior paint, and exquisite marble walls in the family and primary rooms. The chef's remodeled kitchen is a culinary enthusiast's dream, equipped with high-end appliances including a sub-zero fridge, double ovens, marble and quartz counters, subway tile accents, and a stunning chandelier, all with views to the water, making it a perfect…

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What Are Experts Saying About the Spring Housing Market?

If you’re planning to move soon, you might be wondering if there’ll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here’s what the professionals are saying about what’s in store for this season. 

Odeta Kushi, Deputy Chief Economist, First American: 

“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.” 

Lisa Sturtevant, Chief Economist, Bright MLS: 

“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.” 

Danielle Hale, Chief…

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What Mortgage Rate Do You Need To Move?

If you’ve been considering buying a home, mortgage rates are probably at the top of your mind. They may even be why you’ve put your plans on hold. When rates climbed nearly 8% last year, some buyers found the numbers didn’t make sense for their budget anymore. That may be the case for you, too.
Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below):

David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:
“Three-quarters of buyers said, ‘We’re out’ due to mortgage rates. Here’s what I know going forward: That will change in 2024.”
That’s because mortgage rates have come down from their peak last October. And while…

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The Benefits of Downsizing When You Retire

If you’re looking at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.  When you think about cutting down on your spending, the odds are that you will feel like making frequent purchases, like groceries and other goods.

But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:
“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall from selling your larger home and buying something smaller.”

That windfall is thanks to your home equity. If you’ve been in your house for a while,…

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The Spring Market Is a Sweet Spot if You’re Looking To Sell [INFOGRAPHIC]

• Wondering if now’s a good time to sell your house? Based on how many homes are on the market, there are two big reasons why this spring is looking so good for sellers. 
• Thanks to an uptick in inventory over the last year, you’ve got more options for your next home. But there are still fewer homes for sale than there’d normally be, meaning your house should stand out and get a lot of attention from buyers. 
• If you want to sell your house, this spring is the sweet spot. When you’re ready, chat with The Aaronson Group to get the ball rolling.  Call 949-388-5194 or Email info@previewochomes.com

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Why There Won’t Be a Recession That Tanks the Housing Market

There has been much talk of a recession over the past couple of years, which may leave you worried about a repeat of what we saw back in 2008. Here's a look at the latest expert projections to show why that isn't happening.

According to Jacob Channel, Senior Economist at LendingTree, the economy's pretty strong:
"At least right now, the fundamentals of the economy, despite some hiccups, are doing pretty good. While things are far from perfect, the economy is probably doing better than people want to give it credit for."

That might be why a recent survey from the Wall Street Journal shows only 39% of economists think there'll be a recession in the next year. That's way down from 61% projecting a recession just one year ago (see graph…

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Why Today’s Housing Supply Is a Sweet Spot for Sellers

Does selling your house right now make sense? The short answer is yes. And if you look at the current number of homes for sale, you'll see two reasons.
An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the previous typical year in the housing market, there are nearly 40% fewer homes available now:

Here's a breakdown of how this benefits you when you sell:

1. You have more options for your move
Are you considering selling because your current house is too big or small or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be easier to find what…

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SOLD! 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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