I have enjoyed being a renter over the last five years. I moved several times being a renter, and I never felt anchored or chained to any housing situation. I rarely stressed about paying my rent, and I never once fretted about the decline in the value of my property. Further, I never worried about my prosperity being hindered by some bank refusing to extend me a Ponzi loan. Being a renter has caused me to pass many of my [Read More...]
Orange Overview Median home price is $397,000. Based on a rental parity value of $485,000, this market is fairly valued. Monthly payment affordability has been improving over the last 1 month(s). Momentum suggests improving affordability. Resale prices on a $/SF basis increased to $237/SF to $238/SF. Resale prices have been weak for 12 month(s). Price momentum suggests weak prices over the next three months. Median rental rates increased $1 last month from $$2,048 to $$2,050. 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...]
Orange Overview Median home price is $397,000. Based on a rental parity value of $485,000, this market is fairly valued. Monthly payment affordability has been improving over the last 1 month(s). Momentum suggests improving affordability. Resale prices on a $/SF basis increased to $237/SF to $238/SF. Resale prices have been weak for 12 month(s). Price momentum suggests weak prices over the next three months. Median rental rates increased $1 last month from $$2,048 to $$2,050. 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...]
Where did the resale supply go? Will declining resale inventories cause prices to go up? Conventional wisdom holds that lower resale supply translates to high home prices. The months-of-supply metric developed by realtors to instill panic in potential buyers is based on this conventional wisdom. But the reason for the lower supply matters. In an appreciating market, lower supply is caused by increased demand. Supply is absorbed which forces buyers to reach higher or accept less quality for the money. [Read More...]
Rents are rising again. In fact since turning positive in late 2010, rents have been rising steadily and consistently in a healthy range. This is a sign of an improving economy. It’s also one of the reasons rental parity calculations show improvement. Unless the US economy slips back into recession, rents will not turn negative again. As long as rents go up and prices go down, affordability will continue to improve. Renter Nation Rages On As New Reality Published: Thursday, [Read More...]
Borrowers who owe more on their mortgage than their house is worth and who are paying more each month than a comparable rental benefit financially from strategic default. Few dispute that. The arguments against strategic default appeal to ethics and morality, and the counter-arguments either deny there is a moral component or argue that the greater moral duty is to the family. There is one financial argument against strategic default: the house will go up in value, and by defaulting [Read More...]
Astute Observations