The higher the asking price on houses in the current market conditions the longer it will stay on the
market. There has been some discrepancy between what sellers are asking for and where the market is currently at. This has caused an 85% ratio of the sale to original list price. The 15% price drop is what is needed in order to move the million-dollar homes.
Currently homes listed for more than $1 million dollars have a market time of 10.37 months. At the current pace it would take 2.48 for all homes for sale in Orange County to be purchased. Homes listed under a million dollars have a market time of 1.88 months.
Summer was the perfect time for visitors to travel to Southern California. Not only is the weather
perfect but this year hotel room rates fell 16%.
Despite those incentives 25% of local hotel rooms went empty – compared to 19% a year ago. The countywide “revpar” score (which measures hotel cash-flow in regards to rates and occupancy) was down 22% for August.
Last month in Orange County investors purchased 39% or 278 of 718 homes and condos sold at auctions.
Less properties are being returned to banks as lenders and loan servicers offer bigger discounts as high as 60% off debt owed on a first mortgage. Most homes seem to get a discount of 30% off debt owed.
Some investors are putting these homes on the market almost immediately, while others are choosing to rent them out temporarily while they wait for the market to rebound.
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After dropping to a record low in the winter, new-home sales have rebounded in Orange County. 
This could be the beginning of the recovery.
Due to the fact that resale homes are in less supply and are being picked off the market quickly, it may be in many homebuyers best interest to purchase a new home. Homebuyers know what to expect when they purchase a new home, rather than a foreclosure and many feel that if they ever want to purchase a new home now is the time since the market is down. This trend is primarily happening west of the 15 freeway though.
Builders are reaping the benefits – the number of contracts sold rose 42% from last year. It was the first year-over-year sales gain in the past six quarters. Net sales doubled from the first quarter of 2009 to the second, and then climbed 13% more last quarter.
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Rents at large Orange County Apartment complexes have fallen 5% in the last year averaging $1,523.
That is a decrease of $80 a month and marks the fourth consecutive quarterly year-over-year drop. Nationally the average price of rent dropped 3.7%.
Vacancies fell from the second quarter by 1 full percentage point – the biggest drop in 7 years. The average vacancy at the Orange County complexes was 6.6%, compared to 5.3% a year ago.
Hewlett Packard National Realtor Technology award winner, B.S. in Computer Science and Economics, one of the top Realtors in Orange County.
It's in his blood... Real Estate is in Adam's blood... he is a second generation real estate agent who was answering phones at his father’s realty and mortgage companies as soon as he was able to walk and talk! Adam soaked up all there was to know about the industry, as well as his family tradition of providing superb, high-touch customer service.
Leveraging the power of information... However, Adam took his thirst for knowledge one step further. Recognizing the opportunity to embrace technology as a way to enhance customer service, Adam earned a B.S. in Computer Science. He leverages the power of information technology and partners with companies such as LendingTree.com, HomeValues.com, HomeGain.com, and Realtor.com to offer his clients unparalleled visibility to home buyers.
Technology/Marketing award winner...By using the latest technology communication tools Adam streamlines the home buying and selling process for his clients. This ensures that his clients receive prompt and accurate up-to-the minute communications, as well as a fresh marketing strategy that encompasses both traditional and the latest online mediums. In fact, this high-tech strategic approach has won Adam national recognition as the 2006 Hewlett Packard National Realtor Technology Award Winner and more recently as a 2007 Realtor.com “Online Marketing Award of Excellence honoree.
Integrity and experience... As an advocate of the six-sigma methodology, Adam is constantly improving his business model. He employs a level of integrity to which many aspire and few achieve. Adam’s success is evident in his work ethic of take the easy way do it the right and that's his clients say about him... Adam works hard, and he does it right!
Adam Brett Freilich CA DRE LIC#01499486
Residential Re-Sale, Commercial Properties, Foreclosures and Investments. As a long-time Fullerton resident Adam is intimately familiar with North Orange County neighborhoods. He has extensive expertise in residential real estate, commercial build outs, hard money lending and mortgage banking. As an authorized REO agent for CountryWide Home Loans and World Savings he has extensive experience in all aspects of the foreclosure process. Investors rely on his knowledge and experience to help them identify and capitalize on distressed properties.
"Adam Brett helped us get into our dream home. He has the expertise in understanding the real estate market and incorporates the due diligence necessary to work hard for your specific real estate related needs. Adam is supremely versed in marketing, technology, and overall market trends, thus, as a home buyer or seller, you will be supplied with the tools required for a smooth transaction. We will call him again for any future needs, so call Adam today; he will be there for you." Kirk & Supika Kinder
It meant a lot to us that Adam delivered on his promises in a timely manner. Within the first week of listing our house for sale he set up a virtual tour online. He even took the time and effort to ‘stage’ our home for the open house events – going the extra mile is just standard service for Adam. He is extremely creative with his marketing and it's obvious he loves what he does by the enthusiasm he displays and the manner in which he gets things done!" Sherry Caracci
"When our mom passed away, we needed to sell the family home. It was a very emotional and difficult time for us. Adam came up with a terrific marketing plan and was able to sell the house for a good price within five weeks of listing the home for sale. He is the best real estate agent I’ve worked with period!" Al Smith
"We traveled a lot while our property was listed for sale and Adam kept it up for us while we were gone. He definitely went the extra mile!" Sally Fuller
"I want to THANK YOU so very much for all your time, support and dedicated work to complete the virtual tour / powerpoint for our Resource Center. You did an absolutely incredible job and I greatly appreciate it and most of all you." Patricia W.
"Working with Adam was a great experience. He was awesome, he helped us through the process every step of the way. He even helped us find resources to fix up the home when we put it on the market for sale. It was a very smooth experience, and I wouldn't hesitate to recommend him to anyone needing help to sell a home." Andrea Luarca
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