Below is a recap of our current Orange County Real Estate marketplace, effective 8/25/2014 versus one year ago.
Prices
Resale Homes +4.8%, Resale Condos +11.7% and New Home Sales +13.7%
Sales Volume
Resale Homes -15.7%, Resale Condos -14.9% and New Home Sales +22.0%
Facts
Median Home Price is $585,000 up from $540,000 a year ago
Sales Volume is down to 3,179 versus 3,634 a year ago
Average Home Payment is $2,714.62 up from $2,495.88 a year ago
Inventory is up 8,084 up from 7,826 just one month ago
Mortgage Defaults, 420, down 5.8% versus one year ago
Foreclosures are down 11.9% versus one year ago
Average Days on Market 3.13 months (95 days)
Interest Rates
30 year fixed Mortgage rate is currently 4.10%, down slightly from last week
15 year fixed rate is 3.23%, down slightly versus one week ago
A $417,000 conforming 30 year 4.58% rate, you will pay $118 more a month VLY
Trends
OC Home building is up 71% versus last year, fastest pace since 2007
Developers have sold 1 out of 8 homes in OC over the past year!
Medium new home sales price is $805,000, 33% higher than #2 San Diego
LA prices up 7.6%, Riverside up 9.8% versus last year
Home ownership at its lowest point in 19 years (64.8%)
Highest price increase; Newport Beach, 92663, +52.3%
Largest price decrease; Newport Beach, 92662, -82.5%
THE KURT REAL ESTATE GROUP
If you’re the kind of person who is looking for a real estate team that is passionate about helping you achieve your real estate goals, you’ve found a home at The Kurt Real Estate Group. Kurt has achieved 5 Star status in Orange Coast Magazine 4 years in a row because he gets the job done ethically, honestly and with unparalleled professionalism.
From representing Sellers, Buyers, Investors in need of property management, while also being connected to Hollywood’s Film Industry, Kurt is always in tune with the latest trends and opportunities that are unknown to other agents. That’s why The Kurt Real Estate Group is consistently recognized as one of the top real estate teams in Orange County.
Passion – Knowledge – Results
The Kurt Real Estate Team Delivers
WORKING WITH US
Our goal is to share with you invaluable information about buying and selling homes in Costa Mesa and Southern California. In addition to being able to search the Multiple Listing Services for the latest single family homes, townhouse and condo listings, you’ll want to set up an email Listing Alert that will keep you up to date whenever there is a new home for sale that fits your profile.
Visit our Showcase listings Section to see our recent home listings and featured property section that contains number of special listings like REO (bank-owned real estate), foreclosures, and short-sale listings. If you are looking for INCOME PROPERTY, or your an investor or custom home builder, you can also search for vacant land, multi-family residential units, and commercial real estate listings using the Advanced Search.
Kurt Galitski
Meet Kurt Galitski - The Kurt Real Estate Group, your new best friend. Distinctive Strategies that Deliver Record-Setting Results. When you combine Kurt’s passion and knowledge of the real estate market, you really gain an appreciation for what makes Kurt different. But what truly sets him apart from the crowd are his 5 distinctive strategies and his property management… For Kurt, getting into real estate was not an accident, it was a deliberate and calculated decision to deliver a better experience to home buyers, sellers, and landlords that they have ever received before. Today, you could ask any one of hundreds of clients, read his Yelp reviews, or look at his track record of being featured in Orange Coast Magazine in excess of eight consecutive years and you too will say mission accomplished. www.KurtRealEstate.com www.KurtPropertyManagement.com 877-957-6677
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