ORANGETREE

Five good and unusual homebuying and homeselling tips

Oct 262012

There are thousands of how-to and tips articles related to homebuying. Most of them are crap written by realtors as the one post on their website before they give up blogging. Most of the advice in these articles is useless generalities that waste everyone’s time. Back in 2007, I wrote my tongue-in-cheek Buying and Selling During a Decline with tips for buying in a buyer’s market. Unfortunately, those days have come and gone: The First Offer is the Best Offer This is the most counter-intuitive part of buying in a buyer’s market. Ordinarily sellers, or more accurately the seller’s realtor, try to create a sense of urgency to buy the house. They want the buyer to think other people are [Read More...]

What could reverse the housing recovery?

Oct 242012

What would make a strong foundation for a recovery? First, a housing recovery should be built on solid job growth — something that isn’t happening. Job growth of high-paying jobs would translate to more mortgage originations and purchases by owner occupants. Since job growth stimulating owner-occupant purchases should be the foundation of a recovery — and since that isn’t happening — the recovery is being built on a shaky foundation. The recent price rally — call it a housing recovery if you wish — is built on two things: 1) lender restricted inventory, and 2) low interest rates. If either of those two factors change, the housing recovery could easily be snuffed out. After all, the real demand behind a [Read More...]

Banks meet 40% of their settlement requirements through short sales

Sep 062012

The settlement with the major banks dramatically altered their incentives. As part of the settlement, banks can count short sale losses toward their settlement amount. Foreclosures don’t count. So how did banks respond? They dramatically reduced their REO processing and focused on approving short sales. This had two impacts on MLS inventory. First, the lingering short sales that polluted the MLS for months were cleared out. And second, far fewer REO were processed to replace the REO the banks were selling. By clearing out the backlog and not replacing with fresh supply, the number of properties available for sale on the MLS dried up. As a side benefit, prices went up increasing the bank’s capital recovery on the properties they [Read More...]

Orangetree condos a tremendous value

Jul 252012

Irvine: Orangetree Overview Median home price is $173,000. Based on a rental parity value of $359,000, this market is under valued. Monthly payment affordability has been improving over the last 2 month(s). Momentum suggests improving affordability. Resale prices on a $/SF basis declined from $242/SF to $239/SF. Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. Median rental rates increased $12 last month from $1,454 to $1,466. Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months. Market rating = 10 Proprietary Irvine Housing News home purchase analysis 342 ORANGE BLOSSOM #148 Irvine, CA 92618 $155,000 …….. Asking Price $325,000 ………. Purchase Price 10/4/2005 [Read More...]

Orangetree prices still falling, supply dwindling

Jul 062012

Irvine: Orangetree Overview Median home price is $180,000. Based on a rental parity value of $350,000, this market is under valued. Monthly payment affordability has been improving over the last 1 month(s). Momentum suggests unchanging affordability. Resale prices on a $/SF basis declined from $248/SF to $242/SF. Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. Median rental rates increased $58 last month from $1,395 to $1,454. Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months. Market rating = 10 Proprietary Irvine Housing News home purchase analysis 2108 APRICOT Dr #2108 Irvine, CA 92618 $235,000 …….. Asking Price $421,000 ………. Purchase Price 5/26/2005 [Read More...]

Orangetree condos among best bargains in Irvine

Jun 012012

Irvine: Orangetree Overview Median home price is $168,000. Based on a rental parity value of $331,000, this market is under valued. Monthly payment affordability has been improving over the last 1 month(s). Momentum suggests unchanging affordability. Resale prices on a $/SF basis declined from $245/SF to $240/SF. Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. Median rental rates increased $50 last month from $1,341 to $1,391. Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months. Market rating = 10 Proprietary Irvine Housing News home purchase analysis 4102 APRICOT Dr #4102 Irvine, CA 92618 $175,000 …….. Asking Price $340,000 ………. Purchase Price 2/22/2006 [Read More...]

Orangetree median below $200,000, over 40% undervalued

Apr 272012

Irvine: Orangetree Overview Median home price is $181,000. Based on a rental parity value of $318,000, this market is under valued. Monthly payment affordability has been worsening over the last 2 month(s). Momentum suggests worsening affordability. Resale prices on a $/SF basis declined from $256/SF to $245/SF. Resale prices have been falling for 11 month(s). Price momentum suggests falling prices over the next three months. Median rental rates declined $58 last month from $1,400 to $1,341. Rents have been rising for 12 month(s). Price momentum suggests rising rents over the next three months. Market rating = 10 Proprietary Irvine Housing News home purchase analysis 102 TERRA BELLA Irvine, CA 92602 $425,000 …….. Asking Price $504,000 ………. Purchase Price 1/13/2006 ………. [Read More...]

What’s really going on in the Irvine housing market? 3-31-2012

Mar 312012

The Irvine Housing News profiles properties for sale each day and presents current market data on each village and neighborhood. If you really want to know what’s happening in the Irvine Housing market, you need to read the Irvine Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the most viewed property listings in Irvine. Check them out. See what everyone else finds so interesting. 37 ROCKY Knl Irvine, CA 92612 — $749,000 $1,030,000 14 MONTEREY #1 0.92 miles 3 bd / 2.5 ba 2,328 Sq. Ft. $824,900 12 MONTEREY [Read More...]

What’s really going on in the Irvine housing market? 3-24-2012

Mar 242012

The Irvine Housing News profiles properties for sale each day and presents current market data on each village and neighborhood. If you really want to know what’s happening in the Irvine Housing market, you need to read the Irvine Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the most viewed property listings in Irvine. Check them out. See what everyone else finds so interesting. 12 INGLESIDE Irvine, CA 92620 — $994,000 $999,000 241 VINTAGE 0.02 miles 4 bd / 3.5 ba 2,742 Sq. Ft. $979,000 23 CHIMNEY ROCK 0.17 [Read More...]

2003 rollback in Orangetree

Mar 082012

Irvine: Orangetree Overview Median home price is $205,000. Based on a rental parity value of $331,902, this market is under valued. Monthly payment affordability has been worsening over the last 1 month(s). Momentum suggests unchanging affordability. Resale prices have been falling for 12 month(s). Price momentum suggests falling prices over the next three months. Resale prices that are falling generally causes payment affordability to increase. Rents have been rising for 9 month(s). Price momentum suggests rising rents over the next three months. Rents that are rising generally causes payment affordability to decrease. Proprietary Irvine Housing News home purchase analysis 42 ORANGE BLOSSOM Irvine, CA 92618 $161,500 …….. Asking Price $201,000 ………. Purchase Price 5/29/2003 ………. Purchase Date ($39,500) ………. Gross [Read More...]

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