Preview Orange County Real Estate Blog - Orange County Real Estate

Lower Mortgage Rates Are Bringing Buyers Back to the Market

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. Unfortunately, that meant some homeowners decided to press pause on selling.  However, rates are now declining—and buyers are starting to reenter the market. The latest data from the mortgage bankers association (MBA) shows mortgage applications increased last week by 7% compared to the week before.

So, if you’ve been planning to sell your house but are unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts say about buyers returning to the market as we approach spring.

Mike Fratantoni, SVP and chief economist, MBA:
“Mortgage…

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SOLD! 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…

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What’s Happening with Foreclosures?

Media headlines can be incredibly confusing right now, especially regarding what’s happening with foreclosures. 

In today’s market, you must understand what’s going on and can bring clarity to discussions with your clients as an educated agent. 

Watch Kate Rezabek, KCM’s Vice President of Research and Content Strategy, as she goes over what the data says and why we won’t see a wave of foreclosures coming to the market. 

Watch it now  to ensure you can accurately answer client questions and calm any fears in the wake of these headlines. 

Contact The Aaronson Group for all of your housing needs and real estate questions. 

Call:  949-388-5194 or email: info@previewochomes.com

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In Escrow! 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…

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Just Listed! Charming Spanish Architecture Home Nestled in a Secluded Gated Community!

Enjoy extravagant living indoors and out from this beautiful pride of ownership single level home nestled in the secluded Capistrano de Oro highly desired gated community. Located within very close proximity to the prestigious St. Margaret school, this light and bright open floor plan has been tastefully upgraded from top to bottom. The elegant spacious living room & family rooms feature raised ceilings, & new laminate flooring perfectly contrasting with paint in today's colors. The expansive freshly remodeled gourmet kitchen is finely appointed with high quality granite countertops & contrast backsplash, loads of cabinetry, & newer stainless appliances. The spacious primary bedroom suite features an upgraded bath with large shower, plenty of wardrobe…

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What's Really Happening with Home Prices? {INFOGRAPHIC}

• If you're considering selling your house, recent headlines about home prices falling month-over-month may have you second-guessing your decision—but perspective matters.
• While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally annually. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3-4%.
• Reach out to The Aaronson Group  to find out how much equity you have in your current home and how you can use it to fuel your next purchase.

          Call:  949-388-5194 or email: info@previewochomes.com

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Have Home Values Hit Bottom?

Whether you're already a homeowner or looking to become one, the recent headlines about home prices may leave you with more questions than answers.

First, news stories are talking about home prices falling, raising concerns about a repeat of what happened to prices in the crash in 2008.
Based on those headlines, one of the questions on many minds is: how much will home prices decline? But you may need to realize that expert forecasters aren't calling for a free price fall. If you look at the latest data, it's possible that the most significant portion of month-over-month price depreciation nationally may already be behind us – and even those numbers weren't substantial declines on the national level. So instead of how far will they drop, the…

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Think Twice Before Waiting for 3% Mortgage Rates

Last year, the Federal Reserve took action to try to bring down inflation. Unfortunately, in response to those efforts, mortgage rates jumped rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Mac, shares: 

“While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.”
That’s potentially great news if you’re a buyer aiming to jump back into…

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What Past Recessions Tell Us About the Housing Market

It doesn’t matter if you’re someone who closely follows the economy or not; chances are you’ve heard whispers of an upcoming recession. A broad range of factors determines economic conditions, so rather than explaining them each in-depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:  

“Two-in-three economists are forecasting a recession in 2023 . . .”  

As talk about a potential recession grows, you may wonder what a recession could mean for the housing market. Here’s a look at the historical data to show what happened in real estate during previous recessions to help prove why you shouldn’t be afraid of what a recession could mean…

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What Experts Are Saying About the 2023 Housing Market

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a significant shift as economic uncertainty, and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

An article from Housing Wire offers this perspective:
Sub-three percent mortgage rates, fast-paced bidding wars, and record-low inventory characterized the red-hot housing market of the past 2 ½ years. But more recently, market conditions have done an about-face. So now is the opportunity for everyone to become re-educated about what a ‘typical’ housing market resembles.

This year, experts agree we may see the…

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