Archives for May 2012

Today’s Links

Kurt Galitski’s Life In Costa Mesa

  • Costa Mesa Homebuyers Look for Space!
    Weichman Realtors knows those of us who focus professionally on our Costa Mesa real estate trends can vouch for it: outdoor living sells! And depending on what life phase their family is in, homebuyers’ choices tend to follow similar lines. The 2012 Residential Landscape Architecture…

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Demand for Orange County Homes at 7 Year High…

Demand for Orange County Homes at 7 Year High…

OC Register, May 29th, 2012

“Demand, the number of new pending sales over the prior month, continued a trend it picked up a couple of weeks ago, following a normal cyclical pattern for this time of year, shedding 147 pending sales, or 4%, and now totals 3,701. That is still the best posting for the end of May since May 2005. It is 21% stronger than a year ago and 12% stronger than two years ago when the hangover effect of the end of the first time home buyer tax credit was fading. These drops during this time of year are part of the transition from the Spring to the Summer Market. With graduations, vacations and busy summer activities resuming, the market slows a bit from the highs of the spring. Demand of 3,700 is still very, very strong. With a very tight inventory and strong demand, the expected market time is a very hot 1.57 months. From here, expect demand to remain strong and at similar levels throughout the summer.”

  • Market time of 1.57 months for Orange County buyers to gobble up all homes for sale at the current pace vs. 1.53 months two weeks ago vs. 3.68 months a year ago vs. 2.98 months two years ago.
  • Of the 8 Orange County pricing slices tracked, 4 had faster market time vs. 2 weeks ago; and 8 improved over a year ago.
  • Orange County homes listed for under a million bucks have a market time of 1.27 months vs. 4.85 months for homes listed for more than $1 million.
  • So, basically, it is 3.8 times harder to sell a million-dollar-plus residence!
  • And just so you know, the million-dollar market represents 27% of all homes listed and 9% of all homes that entered into escrow in the past 30 days.
Slice Listings Deals Market Time (months) 2 week ago 1 yr. ago 2 yr. ago
$0-$250k 814 683 1.19 1.14 2.81 2.17
$250k-$500k 1,571 1,566 1.00 0.95 2.99 2.21
$500k-$750k 1,244 854 1.46 1.50 4.00 2.89
$750k-$1m 684 293 2.33 2.31 4.61 3.70
$1m-$1.5m 533 181 2.94 3.10 5.77 5.04
$1.5m-$2m 313 77 4.06 4.35 7.35 8.76
$2m-4m 451 57 7.91 9.40 11.40 12.38
$4m+ 270 8 33.75 25.90 51.00 29.75
All O.C. 5,827 3,701 1.57 1.53 3.68 2.98

 

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Today’s Links

Kurt Galitski’s Life In Costa Mesa

  • “Fixers” Reward Patience, Judgement, and Realism!
    Weichman Realtors is in the know and  these days the words “bank owned homes” have become practically synonymous with a single word: “opportunity.”  With prices and mortgage rates this low, first time Costa Mesa home buyers, investors and seasoned property owners alike are looking at a…

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Today’s Links

Kurt Galitski’s Life In Costa Mesa

  • Happy Memorial Day!
    Weichman Realtors wishes you and your family a very Happy Memorial Day! Be sure to give thanks to all who made sacrifices so that we may continue to celebrate our freedom! Weichman Associates Realtors is a full service real estate agency located in the heart…

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Today’s Links

Kurt Galitski’s Life In Costa Mesa

  • Weichman Realtors Open House List for 5-26/ 5-27 and 5/28
    Weichman Realtors Open House List for 5-26/ 5-27 and 5/28  Saturday- May 26th, 2012 Go out and enjoy the Orange County Swap Meet! Sunday- May 27th, 2012 3144 Coolidge Avenue, Costa Mesa 1pm-4pm 1716 Madagascar Street, Costa Mesa 1pm-4pm Monday- May 28th, 2012 1716 Madagascar…

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