Orange County Home Inventory Steady while Interest Rates Dive.
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Interest rates for FHA, Conforming, and Jumbo loans have fallen considerably due to recent efforts to dislodge the credit jam.
Home inventory is traditionally lower during the holiday season. Some experts are saying that the South Orange County area has about 6 months worth of unsold home inventory out there in the MLS. Does this mean that the sideline buyers will jump in while the deals are hot? Possibly, if buyers are actively looking right now, they might not be able to find properties within their price range or expectations of quality.
Let's look how the inventory breaks down by town:
Active listings on the market
Laguna Niguel: 393
Laguna Beach: 311
Newport Beach: 558
Mission Viejo: 348
Irvine: 697
San Clemente: 428
Dana Point: 283
Nationwide, CNBC tells us that the good old pent up demand will mean a continued upward swing in the number of existing home sales sold in CA.
Tell George Pagano about the pent up demand, he is the principal broker for The Strand Project in Dana Point. He sees it too except at the 10-12 Million dollar level (for dirt).
Besides the recent drop in Interest Rates, a Pimco analyst predicts that the 30 Mortgage Rate may fall as low as 4.5%
According to the Wall Street Journal, Americans still see Real Estate as their best path to wealth in spite of all of the recent market woes.
The goal is to buy low and sell high, right? Guess which I'm looking to do right now. Leave your creative comments, and I may send you a recession-proof Starbucks card.
Home inventory is traditionally lower during the holiday season. Some experts are saying that the South Orange County area has about 6 months worth of unsold home inventory out there in the MLS. Does this mean that the sideline buyers will jump in while the deals are hot? Possibly, if buyers are actively looking right now, they might not be able to find properties within their price range or expectations of quality.
Let's look how the inventory breaks down by town:
Active listings on the market
Laguna Niguel: 393
Laguna Beach: 311
Newport Beach: 558
Mission Viejo: 348
Irvine: 697
San Clemente: 428
Dana Point: 283
Nationwide, CNBC tells us that the good old pent up demand will mean a continued upward swing in the number of existing home sales sold in CA.
Tell George Pagano about the pent up demand, he is the principal broker for The Strand Project in Dana Point. He sees it too except at the 10-12 Million dollar level (for dirt).
Besides the recent drop in Interest Rates, a Pimco analyst predicts that the 30 Mortgage Rate may fall as low as 4.5%
According to the Wall Street Journal, Americans still see Real Estate as their best path to wealth in spite of all of the recent market woes.
The goal is to buy low and sell high, right? Guess which I'm looking to do right now. Leave your creative comments, and I may send you a recession-proof Starbucks card.
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