Preview Orange County Real Estate Blog - October, 2024

The Latest on the Luxury Home Market

 An Off Market Listing from The Aaronson Group in Corona Del Mar, CA

Luxury living is about more than stunning views and cutting-edge smart home technology—it’s about elevating your lifestyle.  Luxury Coastal Properties are The Aaronson Group's specialty.  And if you’re in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here’s why. 

The number of luxury homes is growing 

The top of the market, or luxury homes, can mean different things depending on where you live. However, these homes are generally in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars: 
“The median sale…

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Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Are you deciding whether to sell your house now or hold off? It’s a common dilemma, but here’s a pivotal point: your lifestyle might be the most significant factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to decide sooner rather than later. 

An annual report from the National Association of Realtors (NAR) explains why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights: 

As the visual shows, the most significant motivators were the desire to be closer to friends or family, outgrowing their current house, or experiencing a vital life change like getting married or having a baby. The need…

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How To Avoid Today's Top Seller Mistakes

• Want to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too?
• The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate.
• And the best way to avoid falling into any of these traps is to partner with The Aaronson Group and lean on them for advice. 
• Connect with The Aaronson Group. You deserve to have someone you can trust to get the facts.   Call: 949-388-5194 or email info@previewochomes.com

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Are We Heading into a Balanced Market?

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know. 

What is a balanced market? 

A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced market would be a welcome sight for people looking to move. The question is – is that really where the market is headed? 

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2025 Housing Market Forecasts: What To Expect

As we move into 2025, we must know what experts are projecting for the housing market. Whether you're considering buying or selling a home next year, having a clear picture of what they're calling for can help you make the best possible decision for your homeownership plans. 

Here's an early look at the most recent projections on mortgage rates, home sales, and prices for 2025. 

Mortgage rates are projected to come down slightly 

Mortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo show an expected gradual decline in mortgage rates over the next year (see chart below): 

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Today’s Biggest Housing Market Myths

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re considering buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, ensuring you have someone you can go to for trustworthy information is extra essential. 

If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove. 

1. I’ll get a better deal once prices crash 

If you’ve heard home prices will come crashing down, it’s time to look at what’s happening. While prices vary by local market, a lot of data from numerous sources shows a…

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The Great Wealth Transfer: A New Era of Opportunity

In recent years, there has been a significant shift in how wealth is distributed among generations. This shift is called the excellent wealth transfer. 
Historically, transferring wealth from generation to generation was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased in a big way.

As a recent article from Bankrate says: 
“The biggest wave of wealth in history is about to pass from baby boomers over the next 20 years, and it will have major impacts on many facets of life. Called the great wealth transfer, $84 trillion is poised to move from older Americans to Gen X and millennials. If it’s managed smartly, Americans will be able to grow their wealth and ensure…

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Where Will You Go After You Sell?

If you plan to sell your house and move, you probably know there’s been a shortage of options. But here’s the good news: the supply of homes for sale has grown in many markets this year – and that’s not just existing or previously owned homes. It’s true for newly built homes too.  So, how do you decide which route to go? Do you buy an existing home or a brand-new one? The choice is yours – you just need to figure out what’s most important to you. 

Perks of a newly built home 

Here are some benefits of buying a newly built home right now: 

Have brand new everything with never-been-used appliances and materials 

Use energy-efficient options to save money and leave a smaller footprint 

Minimize the need for repairs and benefit…

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Represented by The Aaronson Group-One of The Most Desirable Locations in Casta Del Sol

Nestled in one of the most desirable locations in Casta Del Sol, this home offers breathtaking, panoramic mountain, hills, sunset and Lake Mission views from every room and is situated on a quiet cul-de-sac next to a peaceful greenbelt with only 1 neighbor. This highly upgraded, light and bright residence boasts cathedral ceilings, an open floor plan featuring a main floor primary suite, a spacious kitchen, and generous family, dining, and living areas. The chef’s caliber kitchen features stone counters, exquisite cabinetry with soft close drawers, stainless steel appliances including a Thermador cooktop, island, & a picture window framing sunset and lake views. The main floor primary suite is generously sized and is highlighted…

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