Lenders hope they can solve all their problems by making the housing market hit bottom. If prices bottom, people who bought at the bottom gain equity with rising prices, and they in turn reignite the move-up market which will allow the banks to sell their high-end shadow inventory. Further, rising prices makes for fewer short sales and fewer foreclosures and distressed sellers become equity sales. Rising prices would be a panacea for lenders, which is why the full weight of [Read More...]
A couple days ago, I postulated that lenders would utilize REO to rental programs to the extent feasible: … First, it gives them immediate capital. They don’t have to wait as they slowly liquidate on the MLS. Opponents of these programs — mostly realtors who fear loss of commissions — postulate lenders will recover less when selling in bulk. Lenders will have to discount the properties more to liquidate in bulk, but they also eliminate a 6% commission to listing [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC 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 [Read More...]
Anaheim Overview Median home price is $307,000. Based on a rental parity value of $442,000, this market is under valued. Monthly payment affordability has been worsening over the last 3 month(s). Momentum suggests unchanging affordability. Resale prices on a $/SF basis declined from $215/SF to $210/SF. Resale prices have been weak for 12 month(s). Price momentum suggests weak prices over the next three months. Median rental rates increased $133 last month from $$1,733 to $$1,866. Rents have been slowly rising [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC 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 [Read More...]
The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC 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 [Read More...]
First-time homebuyer presentation 6:30 Wednesday March 7 Anaheim Overview Median home price is $306,699. Based on a rental parity value of $410,927, this market is under valued. Monthly payment affordability has been improving over the last 2 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 3 month(s). Price momentum [Read More...]
Last Friday, I posted an opinion piece about bailing out California debtors. The post was more about moral hazard than about the details of the bank settlement. Now that I have had time to review the bank settlement, I see the issues raised in Friday’s post were completely wrong. From what I now understand about the agreement, it only pertains to the big commercial banks, and it really doesn’t bail out anyone other than the banks. The moral hazard I [Read More...]
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 Orange County. Check them out. See what everyone else finds so interesting. 21562 SADDLE RIDGE Way Yorba Linda, CA 92887 — $698,000 Competing Listings $975,000 21515 DUNROBIN Way 1.02 miles 5 bd / 4.5 ba 4,271 Sq. Ft. $785,000 22355 ROLLING HILLS Ln 1.08 [Read More...]
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 Orange County. Check them out. See what everyone else finds so interesting. 4 WHEELER Irvine, CA 92620 — $610,000 Competing Listings $725,000 5 HANCOCK 0.2 miles 3 bd / 2 ba 1,900 Sq. Ft. $675,000 30 JACKSON 0.28 miles 4 bd / 2.5 ba [Read More...]
The following OC Housing News headlines suggest the market will not bottom in 2012: Chapman: Excessive supply prevents appreciation in 2012 Mortgage delinquencies expected to rise into 2012 Surge in discounted REO expected next year I am not the only market observer who has come to this conclusion. Real estate recovery in limbo until 2013, experts say By Martha C. White — December 23, 2011 This year was supposed to be the bottom for the housing market and 2012 was [Read More...]
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