Preview Orange County Real Estate Blog - Orange County Real Estate

The Power of Mortgage Pre-Approval [INFOGRAPHIC]

Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow.  Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and a competitive edge in a bidding war.  In today’s market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home.

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Is It Time to Move to Your New Home?

How long have you been in your current home?  If you have been in your home for more than five years, you are like many other people across the country.

According to the management company, First American, homeowners are staying longer in their homes than usual.

As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has doubled to ten years. The housing industry refers to this as your tenure.  To understand tenure, it is helpful to find out what drives a person to sell their home.

An article from real estate magazine, The Balance, further explains.  

“People who move for home-related reasons might need a larger home or a house that better fits their needs.  Financial…

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How to Think Strategically as a Buyer in Today's Market

The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. 

Pre-approval: the best opening play to make as a homebuyer 

It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting pre-approved by a lender. You’ve probably already heard this is an important step but what exactly is pre-approval and what benefits does it provide you? 

As Freddie Mac puts it: 

“The pre-approval letter from your lender tells you the maximum amount you are qualified to borrow. Getting a pre-approval letter is not a loan…

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5 Homebuying Acronyms You Need to Know [Infographic]

Learning the lingo of homebuying is an important part of feeling successful when buying a home. Take a look at some of the most common acronyms that will come up along the way and what they mean when you hear them.

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Why Now is a Great Time to Sell Your House?

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles. 

In fact, recent data from realtor.com shows a larger share of homeowners is planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too. 

According to George Ratiu, Manager of Economic Research at realtor.com: 

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey…

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What's Causing Today's Competitive Real Estate Market

• This year's strong sellers’ market is due to the high demand to buy and low supply of inventory.
• Low mortgage rates and generational trends have created an increased demand for homes. At the moment, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply.
• If you’re thinking of selling, contact The Aaronson Group at 949-388-5194 or email us at info@previewochomes.com and we can help you take advantage of today’s housing market and understand your current living area.

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SOLD! Prestigious Mission Ridge Single Level Home in Mission Viejo!

On behalf of the buyer, The Aaronson Group has opened escrow on 26972 Escondido Lane, Mission Viejo Orange County, California. (MLS® #OC21224467)

Impossible to find... A single-level home, with panoramic views, sparkling pool, and 3 car garage. Located in prestigious mission ridge this spacious 2742 sq ft 3 bed + office home has a 10K+ sq ft. lot and has OWNER OWNED SOLAR, has been RE-PIPED and NEW AC/HVAC system in 2020! Located at the end of a cul-de-sac, this home has it all...

Hardwood floors with upgraded baseboards, crown molding, formal living room with fireplace, formal dining room, spacious family room, and upgraded kitchen with dining nook, granite counters, island, stainless steel appliances, and GE monogram 6 burner…

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What's Happening With Home Prices?

There are many unanswered questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Let's take a look at the answers to all three of these questions. 

How much have home values appreciated over the last 12 months? 

According to the latest home price index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below): 

The increase in the rate of appreciation that’s shown by CoreLogic coincides with data from the other two main home price indices: the FHFA home price index and the…

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Should You Renovate or Move?

Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for the third quarter of 2021. The survey revealed the following:

• 70% of respondents want more outdoor living space
• 69% of respondents want a home office (48% wanted multiple offices)
• 46% of respondents want a multi-function room/flexible space
• 42% of respondents want an au pair/in-law suite
• 39% of respondents want an exercise room/yoga space

If you currently own a home you have two options: renovate your current house or buy a home that has what you desire. The decision you make could be determined by factors like:

1. A desire to relocate
2. The cost of a renovation versus a purchase
3. Designing a new home or buy something…

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SOLD! Majestic Property in Prestigious Pelican Heights

On behalf of the buyer, The Aaronson Group has sold 7 Vista Lesina, Newport Coast, Orange County, California. (MLS® #NP21229787) for $7,010,000.

This Home Majestically Situated at Prestigious guard-gated community of Pelican Heights, city of Newport Coast, Very Premium lot 11,421 SQFT Breathtaking Ocean, coastline, Catalina, Harbor, city lights Views, This home is very clean all kitchen and bathroom cabinets been reconditioned most of the exterior French doors Dual Glaze Glass been replaced, all recess can light in family kitchen bathrooms have been replaced with LED, Motorized shades in FR, MBR, All Downstairs flooring Marble Crema Marfil + wood flooring LVR, Library.

Five Bathroom vanity mirror has been replaced some LED Mirror 4…

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