There are currently 147 homes for sale in Aliso Viejo a 35% drop from 60 days ago. Also, in the last 30 days 60 Aliso Viejo homes have sold, and a staggering 100 homes have gone into escrow. That number shows that homes are beginning to sell faster and will continue to as inventory drops. Expected time on market is staying relatively steady, but expect that to decrease. Even though Real Estate slows down this time a year, the buyers who are looking are serious and are ready to pull the trigger quickly with correctly priced homes.
As you can see by the second chart Aliso Viejo homes on average are selling above their list price in October. This means a handful of things. Aliso Viejo sellers are getting more realistic with their pricing, and demand is picking up. There are still numerous micro markets in Aliso Viejo Real Estate, and even though this may paint an accurate general picture, each community has its own driving factors. Contact us to get a detailed analysis of your Aliso Viejo home’s price and your community’s market activity. Whether you are considering refinancing, selling, or just curious this service is offered at no charge.
We love educating our neighbors on the dynamics of their community. You can reach us at 949-235-8614 or fill out the form to the right. If you want a quick home valuation and market snap shot of your community click here
Is the Orange County Real Estate Market Heading for another bubble? Is the US housing market in general heading for another bubble?
Taking the US market as a whole is Macro Economics and that really only has relevance with politicians, school and discussion like this one.
Let us focus on is there an Orange County Real Estate Bubble? Orange County real estate saw a huge appreciation from September 2012 to September 2013. (About 30% This would definitely make one believe there is an Orange County real estate bubble). It has gone relatively flat since with some small exceptions. The usual market time has tripled since a year ago hovering at about 2.5 months. I hear people saying that prices are dropping, and I explain prices are not dropping they have stabilized. Sellers were over zealous thinking prices would continue to rise, so they would price their home 5% to 10% higher than the comps. Homes sit as the sellers realize they need to bring the price down to match the market. Buyers are no longer willing to chase and are waiting for a correctly priced home. The market is primarily equity sellers that are contingent on finding a replacement home, and smaller scale investment companies or individuals.
Open House Aliso Viejo 5/14/2014 Sunday 1-4 pm
Open House Aliso Viejo Sunday 5/4/2014. 4 beds 2.5 baths 1800 sq feet. Corner Lot in Model Perfect Condition! Brand new carpet and new paint. Four true bedrooms with living room and a den/office. Cathedral ceilings, crown molding, ceiling fans, recessed lighting, dual pane windows and hardwood floors. Newly remodeled kitchen with quartz counters and custom seaglass back splash. Currently garage is designed as a game room/bonus room with hardwood flooring, new paint, molding and recessed lighting. (not permitted) Additional features include above ground spa, upstairs laundry room and only one HOA. Elementary school is Canyon Vista.
Contact Patrick at 949-235-8614 for more information or click here
Open House Foothill Ranch, CA 2 bed 3 bath $399k
Open House Foothill Ranch, CA Saturday 4/27/14 1-4pm. Recently updated 2 story condo! 2 bedrooms each with private bathrooms both with new vanities and granite counter tops. Spacious downstairs with neutral tile floors, fireplace and downstairs bathroom. Upgraded kitchen with new cabinets, stainless steel appliances, granite counters and new fixtures. Great open floor plan with large skylight allowing for ample sunlight to shine thru. Direct access 2 car garage and indoor full size laundry. Private balcony and cozy front courtyard to enjoy your summer nights! This is a great unit and will not disappoint!
Annexed into the city of Lake Forest in 2000, Foothill Ranch is one of South Orange County’s newest master-planned communities. Comprised of a unique balance of residential, business & open space, this 2,700 acre community is strategically located near the Santa Ana & the San Diego freeways. The tranquility and scenic wilderness along with it’s close proximity to some of Orange County’s premier entertainment, education, and retail centers make Foothill Ranch a popular place to visit and live.
Open House in Dove Canyon, CA
49 BELL CANYON Drive Dove Canyon, CA 92679
Breathtaking view home, located in the luxurious guard gated community of Dove Canyon! This upgraded 5 bedroom home is settled on a single loaded street with an unbelievable view of the golf course, mountain and hills from many rooms. The entry opens to the elegant formal dining room and an office with built in desk and shelving. A separate family room with fireplace and dark wood built-ins opens to the beautiful spacious kitchen creating a large great room. This state-of-the-art kitchen features center island and a walk-in pantry. A main floor bedroom with a dedicated bathroom completes the downstairs. The second level conveniently features an individual laundry room. There are three very large secondary bedrooms that each offer their own walk-in closets. Two of the secondary bedrooms have individual upgraded bathrooms. The master bedroom opens with double doors and flaunts an extremely spacious walk-in closet and dressing area. The balcony wraps around the back of the house creating a relaxing environment to enjoy the remarkable views! A large bonus room with panoramic views and built-ins could be made into a sixth bedroom. The backyard has ample grass areas, a built in BBQ and an in ground spa/spool.
for more picture visit 49bellcanyoninformationsite
Open House 14- pm Saturday 3/8/2014 from 1-4pm
Step into the perfect Family home in the one of the best communities you will find in Orange County. This is a Plan B, Two Story home with 3 Bedrooms, 2.5 Baths, and a 2 Car Garage. The kitchen features granite counter tops along with wood floors, and wood floors throughout the dining room. The living room has a full size, built in entertainment center, and cozy wood burning fireplace with pre-cast surrounds. The front porch is perfect for watching the kids play, and the Master Bedroom is roomy with a Walk in Closet, and a very spacious Bathroom with Dual Vanities and beautiful Tub and Separate Shower with Glass Door Shower Enclosures. Laundry is upstairs, and there is a generous linen storage ready for you to fill up. The home is Pre-wired for Cat 5 wiring in all bedrooms. The garage is fully dry-walled, and all the utilities are underground. Come see it today!
Click the slide show below to see photos of some of the beautiful homes.
There are many projects underway in Orange County. Some in the beginning stages some in the latter stages. All the builders are offering great products and the information on the web is extremely vague and sometimes misleading. The main reason for this is that they want you to visit the properties. Buying new construction has a tremendous upside but, it requires patience and time to find your best fit solution.
My favorite project is Rancho Mission Viejo. A beautifully designed master planned community off Ortega Highway and Antonio Parkway just south of Ladera Ranch.
The influence of foreclosures and short sales on the housing market is minimal.
Distressed: foreclosures and short sales make up only 5% of the overall inventory in Orange County.
It is amazing how often people ask about foreclosures. Buyers want to buy a foreclosure. Investors want to buy foreclosures. Shadow inventory? Empty foreclosures intentionally held off the market? When’s the wave?
The reality is that as the interest in distressed homes has grown exponentially, the number of foreclosures and short sales placed on the market has dropped dramatically. Buyers and investors wishes for more distressed sales have become nothing more than wishful thinking. The more they ask, the less they find.
Just Listed 3 Bedroom Home Irvine, CA
New 3 Bedroom Home in Woodbury Irvine, CA. Beautiful Model Perfect Home with designer upgrades in the highly sought after Woodbury Community of Irvine! This property is located on a cul-de-sac and features 3 bedrooms, 3 bathrooms and includes Master Bedrooms downstairs and upstairs. Beautiful hardwood floors leads you to the Kitchen highlighting granite counter tops, a breakfast bar, and stainless steel appliances including a double oven. The Living Room includes a built in media center, double sided fireplace and whole house surround sound system. Down stairs the Master Suite features a large walk-in closet, a relaxing jetted Jacuzzi tub, and plenty of space. The upstairs loft is ideal for a second family room and kids play area. Woodbury’s amenities are unparalleled boasting 7 pools, a clubhouse, football and baseball fields, beach volleyball, tennis and basketball courts, BBQs and fire pits. Woodbury Elementary is one of Irvine’s top schools and is only a short distance away.
Open House Saturday and Sunday
10/9/13 and 10/10/13 from 1-4pm
Rancho Santa margarita Open House. Recently upgraded 2 bedroom 2 bath corner unit in the in the wonderful Belfora community of RSM. Great spacious floor plan with nearly 20k in upgrades including matching granite counters and travertine floors in the kitchen and baths. Plenty of light offered with its numerous windows or enjoy privacy with the California Shutters. Relax on the patio surrounded by trees with no other buildings in front or on the side of you. Well kept complex with recently painted exteriors. Monthly HOA dues includes Association pools, tennis courts, Basketball Courts, RSM lake, Beach Club, Club House, Man made beach, skate park, dog park, and more. The property is close to the RSM lake, shopping, schools, parks, hiking, parks & recreation. Centrally located to freeway & toll road.
4 Bedroom Open House Saturday
October 26th 1-4pm
4 Bedroom Home in Aliso Viejo Open House Saturday. Highly upgraded home, great condition in the Tiburon Community. This home is Must see! one of the Largest models in the tract, Upgraded Gourmet Kitchen Open To the Family Room with a huge living room nice and bright. gorgeous back yard with hot tub, waterfall, flagstone decking around spa and built in barbecue. 4th bedroom currently used as a loft/office.
Buyer optimism is up.
So what does that mean?
4 Lanterna Aliso Viejo – $645,000
This model perfect home in Aliso Viejo has been beautifully upgraded throughout. The custom porcelain wood accented flooring leads to a gorgeous eat in kitchen with granite counter tops, brand new stainless steel appliances, and a center Island with seating for up to six people. Open the windows and enjoy the coastal breeze that comes in from the canyon, or take advantage of the California Shutters to provide an intimate environment. The upstairs has a laundry room with open hallways leading to four bedrooms, including a spacious master suite with a Jacuzzi tub. The home has been freshly painted inside and out and the brand new vinyl fencing provides privacy in the backyard. Relax in the quaint community laying out by the large pool or unwind in the hot tub. Around the corner you will find breathtaking views of the Aliso Wilderness Park, where you can hike or mountain bike to Laguna Beach.
Below are the last steps(4 and 5) on how to purchase a home in Orange County.
Negotiate the Offer
Buyers sometimes make the mistake of comparing the sales price of a home to other homes they have seen. It’s a mistake to compare sales prices among homes for sale. That’s because sellers can ask any price they want. It doesn’t mean the home will sell at that price.
- An agent can provide comparable sales and examine the pending sales. Comparable sales are similar type homes in the same condition and location that have sold within the past 3 months
- Pending sales will become the comparable sales by the time your home closes.
You may need to pay over list price in a seller’s market(Orange County is experiencing a very aggressive Sellers’ market) , many buyer are bidding on the same property. This will bring bidding wars and bring in offers above asking and even above market prices.
- Your agent can give you a reasonable price range and help to manage your expectations.
- A good buyer’s agent knows there is always more to an offer than its price, but price is paramount.
Do a Home Inspection
In CA a home inspection is a contract contingency.
- A contract contingency means a buyer has the right to cancel the contract.
- You might not want to be locked in to buying a home that has a faulty foundation, for example
- This can be waived but is unadvisable. REOs and Short Sales are sold “AS IS” meaning you can still perform an inspection and back out of the contract, but the Bank will not do the repairs
- Contingencies will be released once both parties have been satisfied with the offer(for the seller) and the home condition(for the buyer)
- When contengencies are released you have a mutually and fiscal measures can be taken
Sellers are generally not required to make repairs if problems are discovered during a home inspection. A home inspection is for the buyer’s edification. However, sometimes when a buyer gives a Request for Repair to the seller, rather than blow the deal, the seller will often agree to make a repair.
In Orange County the sellers are refusing almost all request because they know the can most likely get a even higher price if the buyer backs out. The reason for this is Orange County has seen a 30% year over year appreciation in homes since June of 2012. That is an average of nearly 3% a month and possibly more in the most recent months. The largest wave of appreciation has happened since the beginning of the year.
This is just the simplified version of purchasing a home and I hope that this can give you potential future holders of the American Dream a plan of action. I am always available so fell free to call or email me.
This is going over steps 2 and 3 of purchasing a home.
2. Find a Home to Buy
Buying a home can be an overwhelming process and emotionally draining. Finding the right home is not always an easy task.
- I advise buyers to look at a maximum of 7 homes at a time because any more than that will make a buyer’s head spin.
- Most buyers conduct a lot of research online before ever stepping foot in a home.
- Buyers spend an average of 6 to 8 weeks, according to the National Association of REALTORS, trying to figure out where they want to live.
- But once the neighborhood is selected, most buyers end up buying a home after 2 or 3 home tours.
RED Day (Renew, Energize and Donate) is an initiative dedicated to celebrating Keller Williams Realty’s year-round commitment to improving our local communities. Each year, on the second Thursday in May, tens of thousands of associates from across the United States and Canada participate in a wide range of projects, devoting our time to renewing and energizing aspects of the neighborhoods in which we serve.
This year, your local agents from Keller William’s Mission Viejo are asking for your support in our RED Day food drive! This food drive, sponsored by Second Harvest Food Bank, is geared towards helping the whopping 400,000 people within Orange County who are at risk of hunger.
There are really only 5 basic steps to buying a home. You can do these 5 steps in any order you want. In this I will go over the first step. The next steps will be covered in later post.
Hire an Agent
Because I am an agent, I believe in hiring a buyer’s agent first. But you don’t have to if you prefer to go to open houses and look through a large list of homes online. Mostly, an agent will save you time. Interview agents ask questions find out what sets them apart in this challenging market.
Though it’s the exception rather than the rule, selling a house without an agent can be done. With some hard work and good research, you may be able to save a lot of money — up to 7 percent in some cases. Keep in mind that those savings can be hard to achieve and are very market dependent, especially if brokers are cutting their rates.
It’s probably best to find an agent who belongs to the National Association of Realtors and the local Orange County Association of Realtors, so you know that he or she is bound by a code of ethics. Ask people you know who have dealt with realtors for a referral. Pay attention to the listings in your area and to how quickly those homes sell. Going to an open house will also allow you to meet the agent personally and “pre-screen” him or her.
Once you find an agent, don’t sign a contract immediately. First, take time to interview the agent to see if this is a person you want working for you. You want an agent who asks you questions and appears interested in your home, so you should treat this like a job interview. Here are some good questions to ask a prospective agent:
How to Sell a House in Orange County
Selling a house is a complicated process, no matter how good the real estate market is. Whether you’re a first-time home seller or not, you’ll probably have a bunch of questions. Do I need a real estate agent? What’s “closing”? How much paperwork am I going to have to fill out? How can I get the best price for my house? How can I sell my house and buy a new one at the same time?
There are two main ways to sell your home — with an agent or without one. Before we discuss and weigh each option, let’s go over some general tips that all sellers should know.