Elite Home Sales Team Keller Wms. Realty

This is the Orange County Market Report for the last month from a San Clemente Realtor. In that month we see that resale homes stayed even neither up or down. New homes went down in price 6.3 percent. and resale condos went up 4.2 percent. The sales volume for resale homes uas up .9 percent and the resale condos showed and increase of 8.8 percent. While new homes went down in price 2.2 percent.

The Orange County Market Report from a San Clemente Realtor shows the median price for the county is now $427,750 this is down from $440,000 a year ago with a total sales volume of 2,790 homes sold. Again the most active part of the market is the condo and lower priced single family homes.

The Orange County Market Report by city:

• Aliso Viejo Median Price $416,000 down 3.3 percent with the sales volume of 79 homes sold down 17.7 percent.
• Laguna Niguel Median Price $555,000 up 1.8 percent with the sales volume of 83 homes sold up 22.1 percent.
• Mission Viejo zip code 92691 Median Price $480,000 down 3 percent with the sales volume of 52 homes sold down 17.5 percent.
• Mission Viejo zip code 92692 Median Price $479,500 down 13.2 percent with the sales volume of 59 homes sold up 20.4 percent.
• Rancho Santa Margarita Median Price $405,000 down 4.4 percent with the sales volume of 60 homes sold down 6.3 percent.
• San Clemente zip code 92672 Median Price $525,500 down 30.6 percent with the sales volume of 43 homes sold up 168.8 percent.
• San Clemente zip code 92673 Median Price $714,000 down 10.8 percent with the sales volume of 45 homes sold down 6.3 percent.

Note when you see a large drop in the median price you see a large increase in sales San Clemente 92672. This is the view from a San Clemente Realtor

Did you know that the market statistics for Orange County, CA show a 331% increase. I ran some data from the multiple listing service here in Orange County, CA. I think you will find it interesting.

At the end of August and the begining of September 2007 the market statistics for Orange County, CA Showed we had over 17,000 properties for sale but only around 1,900 properties in escrow or under contract. That made a great buyer's market because there were few buyers and a lot of property. Prices dropped significantly from that point on. We know it got more and more difficult to get a loan (full documentation and FHA).

At the end of August and the begining of September 2008 there were 14,000 properties for sale but only around 4,200 homes in escrow or under contract. Note that the market statistics for Orange County, CA showed the number of properties for sale was now down about 3,000 homes from the previous year. Then when we looked at the number of properties in escrow or under contract we saw the number grew by 2,300 more programs for the 1st time buyer and investors were out to take advantage of the deals. Prices were still dropping.

Now, this year. At the end of August and the begining of September of 2009 we had over 8,000 properties for sale and about 6,700 in escrow or under contract. Or if you will, in the past two years we are down more than 6,300 properties for sale in our market. We have 6,688 homes in escrow or under contract. That is a growth of over 4,400 properties sold. Wow, in two years we have increased by 331%. Now that is success for an area, but the prices still go down. Great prices all over Orange County, which would include San Clemente, Mission Viejo, Aliso Viejo, Laguna Niguel, Dana Point...etc.

With a 331% increase others have found it is a great time to buy prices down and great interest rates contact us and we will help you find the right property for you. When we get to the same number of sales and the number of properties on the market for sale we will see the market turn upward (I believe).

Real Estate can help with your retirement in Orange County,CA. Real Estate could make sense for a great retirement vehicle. Lets look at what you can do. If you can purchase a home at a low price and pay it off in 10 to 15 years or if you purchase the home cash. In our area, each home will bring in (assuming you purchase a low end home) $1800-2500 per month.

If you own 5 homes it will bring in $9000-12,500 per month. Now that is better than Social Security. There are a few thing you need to do. Have good credit if you are going to purchase a home with a loan. I would still carry 30 year financing but pay it off like a 10 or 15 year loan (calculate the payments you would make on a 10 or a 15 year loan and pay that). The reason for taking the longer term rather than the short term is if life delivers you a curve ball you did not see coming you can pay the lower 30 year payment. If you have a 10 or 15 year loan and some problem in life creates a financial hardship, the bank will now allow you to pay a lower payment. Usually, if a financial hardship does happen you cannot refinance either. So plan ahead.

Orange County, CA. does not have enough property to handle the influx of people that are going to need housing. Therefore, in the long term one can easily have a home to rent to those who need housing. I suggest single family homes, but duplexes to fourplexes are fine. I favor single family homes because they increase faster in an up market and if you need to sell one of your properties a single family home has a larger population of buyers. The positive for an investor with a multi-unit property is spreading the risk of vacancy. A vacancy will only be part of the income on the unit that is not coming in.

If you choose wisely in a market like we have now you can set yourself up for life. For more information contact me at www.markandtim.com Real Estate can be a great retirement vehicle.

Jumbo Financing Or Jumbo Loans is available or alive for Luxury Homes in Orange County, CA. Have you noticed that the upper part of the market is coming alive check the statistics for Corona Del Mar the median price was down for the last 4 weeks 35% but sales were up over 220%. These properties are really pricy over 1.5 mil.

During the first half of 2009 statistically most sales were at or below $500,000 sales price. Beginning the second half of 2009 the activity level in South Orange County in the Jumbo market is showing signs of life. We are seeing a substantial increase in pre-qualifications and sales for higher priced properties.

When clients call for financing they are shocked how low our rates are for Jumbo financing. Jumbo financing is considered in Orange County,CA loan levels above $729,750. No other lender has this great of Jumbo financing pricing and the client can only get these rates by going direct. Here are a few examples as of today.

80% Loan to Value to $1,500,000

5.75% No Points or 5.375% One Point / 30 Year Fixed Rate

5.50% No Points or 5.125% One Point / 5 Year Interest Only ARM

70% Loan to Value to $3,000,000

6.25% No Points or 5.75% One Point / 30 Year Fixed Rate

5.50% No Points or 5.25% One Point / 5 Year Interest Only ARM

The above terms are for an owner occupied primary residence. The credit score requirement is only 720. We allow credit scores as low as 660 on our Jumbo financing at slightly higher rates. We also offer Jumbo financing on Second Homes with the same low rates as the primary residence.

Many clients are under the belief that Jumbo financing is difficult to obtain. That's because they are talking to the wrong lender. Most other major lenders require more down, higher credit scores and much higher rates.

These are the statistics for Orange County and the San Clemente Area. Did you see the drop in value in Corona Del Mar? The median home price dropped over 35% as shown in today's paper, The Orange County Register. Yet, they are hot hot hot. There sales are up for the last 4 weeks by 260% total of 18 sold homes.

The statistics for Orange County and for the San Clemente Area shows that for the last 22 days ending August 24, 2009 showed 19 of 83 Zip Codes had an increase in there median selling price. But the overall county showed a drop in of 5.4%. However there was a definite increase in the number of sales in 52 of the 83 Zip Codes.

What do I make of all this. Sales are up when the price is under $600,000 and the competition is really heavy and not much happening above $1,000,000. We are seeing the upper end of the market starting to drop it price significantly. Note Corona Del Mar 35% drop in median sales price.

San Clemente in zip code 92672 there is a 23.9% drop in the median value, and the number of sales for the zip code increased 115% a very good number. In the zip code 92673 the median price dropped 8.4% as the number of sales also dropped 7.8%

Mission Viejo in the 92691 zip code showed a drop of 4.9% in median value, while the statistics show a drop of 7.1% in the number of sales over the last 4 weeks. In the zip code of 92692 median pricing has dropped 19.6%, while showing a 50% increase in the number of sales in the last 4 weeks.

Rancho Santa Margarita showed a loss of 8.9% in the median value of a home and decreased 4.4% in the number of sales over the last 4 months.

Laguna Niguel is down 2.5% in median value of their homes, while showing and increase of 28.2% in sales over the last 4 weeks.

Now is a great time to pruchase a home if you are planning to live in the home, prices are down and the interest rates are low. Call me and I will help you personally decide if this market works for you and your circumstance. These are The statistics for Orange County and for the San Clemente Area