Housing prices in orange county california,houses for sale owner finance el paso tx,homes for sale in toronto area port st lucie fl,foreclosure homes in lake worth fl ymca - For Begninners

What’s need is for financial institutions to know, with absolute certainty, that they will eat every penny of their losses, and there will be no government back-stop if they implode. It is far safer for politicians to give away money that will eventually be worthless than it is for them to practice tough love.
Fraud from the top down, yet some shill in here would rather throw rocks at his fellow citizen. 12933 Andy Dr Cerritos CA 90703 — Someone purchshed this home for $338,000 in December and now back on the market for 499,000.
The elimination of liar loans and destruction of ARMs will ultimately bring the real estate indusrty to it’s knees. 2 weeks ago I found this property on one of the foreslosure web sites and it was showing that BOFA owns this property. I am very sure in next 2-3 weeks this property will be back in the market for 599,000 or more.
If foreign investors lose confidence and invest elsewhere to seek better returns, the Fed may have to raise rates. I have a hard time believing that institutional holders of second liens would systematically shake down brokers or short sale buyers. I can believe this could happen in situations where the holder of the 2nd or 3rd is a private investor or hard money lender. My point in showing the actual sales history of the property you mentioned was to give some idea what the longer term trend is. Orange County home prices near all-time high levels: Inventory rising and looking at inflection points. What is problematic is that the homeownership rate continues to fall and is near a generational low.  A lot of the current momentum is simply built on the back of years of investor buying and now that they got their fill, the late party arrivers are trying to get a piece of the action. 2015 was the biggest median down payment home buyer profile I have had in 16 years in the O.C.
Yes, there is data out there and I believe the avg down payment is much lower now than it was 3 years ago, and getting lower each year. It is amusing to see all those that claim that the game is rigged somehow presume to know what TPTB are thinking. Just because you’re afraid of being priced out forever, so you spend all of your savings on a down payment, and squeeze into the most expensive thing you can, leaving you no savings, and no ability to save in the future. I also have a friend who got an ARM on her first home, and no, she’s not a savvy investor with a strategy.
Add to the fact we’ve had plenty of inflation during the last 8 years and almost NO new construction. I just don’t see the logic that just because people bought houses with large down payments or “cash” (cash being probably just another loan type), that house prices can’t or won’t collapse. There have historically been so many boom and bust cycles in CA real estate that it’s hard to argue this time is different.
What’s funny is, some of those houses in Newport Beach, on the Peninsula, are tiny narrow shotgun type houses with no yard, probably originally just summer houses. Responder, all the no down liar loans stopping paying their mortgage or walked as soon as it hit the fan back in 2007. Of course the average mobil home park in Huntington Beach, Newport Beach, Corona del Mar, Laguna, etc if they’re close to the beach at all, flush directly into the ocean. Sure, mortgage rates are lower now, but they’re most likely going up, especially if and when the Fed decides to tighten. Note how the rationales for bubble prices flip flopped between 2007 and 2015 to fit the agenda. There is at least some anecdotal evidence that people will walk away from their investments in the event of a significant price decline, despite a (relatively) big down payment investment. Furthermore, unless real estate in Bubble area are rising, the holding costs compared to renting doesn’t make sense. The combination of comparative stability and nice weather will get a lot of mobile people looking to see if they can make it work.
The correct comparison is other cosmopolitan cities around the world not Des Moines or Atlanta. It is as if everyone came to the realization that owning is a stupid idea and will do anything to avoid it. 30-year fixed mortgage rates are predicted to rise further next year, but not at the pace seen recently and they are expected to cap out at 5.3%.
The median home price in California is also forecasted to rise, reaching $432,800, and rising by 6%. Further improvement of the market could be attributed in part to the return of prospective buyers who had been pushed out of the market by low inventory and aggressive investors, increasing homeownership demand as a result. Although the rise in home prices in Southern California has been great for market recovery as well as sellers and homeowners, it has also affected home affordability for the average Los Angeles buyer. On average, only 24% of homes on the market are affordable to a home buyer with a median income. Median home prices in the six-county Southland has risen by 24.6% in the last year to $385,000 in August. The gap between affordability and average income can be attributed not only to home value appreciation, but also to increasing mortgage rates and reduced inventory, as investors sweep up lower cost homes.
Rental costs are up 2.86% in Southern California as a whole, with Orange County rents the most expensive at an average of $1,572 per month. As the homebuyer market continues to become more competitive in Southern California, so too does the rental market. As home price increases in the area continue to force first-time homebuyers out of the buyer’s market, the rental market has become increasingly clogged and renters in Southern California (including Los Angeles, Orange County, San Diego Counties and the Inland Empire) are facing increasingly tight competition. The largest rent increase came from Los Angeles County, with rents up 2.86% to an average of $1,435. Over 3,000 new apartments came on the market in Los Angeles over the course of the year for a 120% increase, but still were unable to outpace the 5,800 apartments absorbed as the vacancy rate dropped to 3.2%.
Following last week’s report by the NAR that home prices in major metros are up 31% in Q2 this year, the CAR reported that these spikes in home prices are keeping homes from being affordable for many. The percentage of home buyers in California who could afford a median-priced single family home dropped to 36% in Q2. Currently, the average family requires a yearly income of $79,910 to qualify for a $415, 770 median-priced single family home. However, there are still many metros in California that are affordable, as well as a variety of opportunities available especially in Southern California.
Earlier this week President Obama spoke on housing reform, taking a hard stance against Fannie Mae and Freddie Mac as well as government involvement.
Creating special programs that will expand eligibility for refinancing for those without government-backed mortgages.
While inventory continues to remain low, and rising home prices and mortgage rates are proving a challenge for first time home buyers, home prices are expected to continue their upward trajectory as the housing recovery continues to gain pace. Just as home prices continued their ascent, Southern California home sales declined in the month June.
Looking to purchase a home in the Southern California market before mortgage rates leap further? The monthly decrease can mostly be attributed to multifamily home starts, which were down 26.2% from the month before, at the seasonally adjusted annual rate of 245,000.

Orange County housing daydreaming – Home prices in Orange County to increase by approximately 50 percent by 2016 according to UCLA. I was listening to a fascinating lecture regarding the Los Angeles real estate market by Dr.
In his California forecast, Ratcliff expressed concern about two aspects of the economy: consumer spending and the state budget. In other words, they are just speculating.  This is like betting on red coming up on Roulette. And, even if there is inflation, how well does that historically correlate with rising home prices? Besides, the goal of QE II is to keep the interest rates low in order to support current housing price levels.
While that could possibly cause an increase in the posted price of the property, it would not make it any more affordable, nor would it be due to a boom in the market. The UCLA professors who wrote their unfactual and speculative article live and die in the academic world of publish or perish. Lately, I haven’t been overly impressed with the quality of health care at UCLA either.
If you look at a historical trend of unemployment as it correlates to housing prices in CA, you will see that it’s very strong. The only thing more preposterous than these projected house price increases is the images that come to my mind trying to invent an economic scenario that would permit them. If the inflation is up to 20% in the next 5 years, and housing price will go up to that much. Nobody really wants hyperinflation, and it is the results of incremental and accumulative inflation.
In previous downturns, such as those related to aerospace in 1991 and technology in 2001, employment typically took four to six years to recover, he said. There is also a bunch of numbers to slog through while getting to anecdotes, but some of the numbers could be interesting too.
Orange County house prices have seen the longest unbroken streak of increases since the years leading up to the housing market crash of 2006-07, a composite of four key home-value measures shows.
The last time this composite had a streak this long was from January 2001 through November 2006. For 33 months after that, prices intermittently rose and fell before the current upward streak began in June 2012. Even with recent price gains, Orange County’s composite home value as of August remained 7 percent below the peak price reached in November 2006.
CAR numbers are based on median prices derrived from sales in the Realtor-run multiple listing service. Orange County Jobs: The Real OC, Companies Cutting Jobs Since the Recession Started in California. So what is really going on in Orange County?  How do the job losses look like for the common person on the street here in the sunny OC?  Much of this is lost in the current statistics jungle where thousands of layoffs are merely aggregated together into one clean and cold percentage.  Yet the numbers do tell us a lot of what is happening. Orange County is a relatively affluent area.  Yet looking at the numbers, you realize that these numbers will be decreasing.
This is another reason why Chapter 7 bankruptcies are soaring because people simply cannot hang on anymore even in the glamorous OC.  The gig is up and a county so dependent on booming real estate and bubble finance is now taking it on the chin for relying so heavily on one industry.
It is also the case that people here were big spenders and reflect the poor habits of California with little or no savings.  This has left the budget in shambles and will leave many households dealing with the fallout for years to come, even in the OC. If you enjoyed this post click here to subscribe to a complete feed and stay up to date with today’s challenging market!
As a resident of California except for 4 years of 53, I can validate the perception of over consumption of many of the residents of this state. The day of reckoning for global total debt – total credit market debt up from $28 trillion in 2001 to $53 trillion in 2012.
The compression of generations – 25 million adults live at home with parents because they’re unemployed or underemployed.
According to DataQuick Orange County home sales slowed somewhat during September, down 13.3% from August. Although sales growth was slower, prices were up in Orange County for the fifth month in a row, that’s a three-year high.
If you’re looking to purchase a home in Orange County, contact Blue Pacific Property today to see the local inventory.
In order to get the second lien holder to drop the lien, the first lien holder generally negotiates some partial payment to the second lien holder.
Since many second lien holders are getting very little, they are now allegedly requesting money on the side from either real estate agents or the buyers in the short sale.
Varones – on of the oldest and most vehement bubble bloggers has capitulated and bought a home.
Do you think you could have opened a bank in the last twenty years without massive government intrusion into your business? Varones – on of the oldest and most vehement bubble bloggers has capitulated and bought a home.
Now that oil prices have been decimated, with lots of job losses in Western and less energy business for the finance sector in Toronto, let’s see what happens to Toronto real estate.
People are trying to justify these prices any which way they can, but the prices just don’t make sense. I have a buddy who bought a $300k condo in 2007 with (I believe) $60k down, which was a lot of money for him at the time. With China and much of Europe soft right now I’m sure a lot of California real estate horny foreign nationals have hit the pause button. Those with money and mobility will vote with their feet and more and more we will become a State with the wealthy and the poor and not much of a Middle Class.
In addition, 2013 is expected to close out the year with 2.1% less sales than 2012, which saw single-family existing home sales totaling 439,400 units. Housing inventory is also expected to become less scarce next year, as more homeowners come out from underwater and choose to sell.
For homebuyers, the recent cooling of the Los Angeles market will be a welcome turn of events. Although around 6,700 new multifamily units were constructed between the spring of 2012 and 2013, almost 11,900 were absorbed at the same time. Monthly payments on a 30-year fixed loan would be about $2,000 with a 20% down payment and a 3.64% interest rate. According to the NAR, 31% of 163 metro areas nationwide posting year-over-year home price gains in the double-digits. Across the Southland’s six-county market, prices posted record year-over-year gains, rising 28% in June to $385,000. Year-over-year, home prices increased substantially, rising nearly 30% to a median price of $385,000 – the highest point since April 2008.
Mortgage rates, which recently spiked past 2013’s expected 4% ceiling, are also a deterrent to home sales. Census Bureau, housing starts were down by 9.9% month-over-month for June, at the seasonally adjusted annual rate of 836,000.
As the multifamily housing market tends to vary greatly month to month, a three-month moving average basis provides a steadier picture.

From May to June, housing starts for single-family homes fell by only 0.8%, staying essentially flat, at a seasonally adjusted annual rate of 591,000.
If problems develop in either area in conjunction with the housing slump, then the state could slide into recession, he said.
Then we will be like Zimbabwe , where a loaf of bread costs a million Zimbabwe dollars give or take a few hundred thousand. Unless the FED can drive the mortgage rates even lower than 4%, the housing prices won’t rise.
The professors overwhelming desire to write papers overwhelms any sense of common sense or historical data review.
House prices rose year over year in that period for at least 71 consecutive months, or nearly six years.
That must be the most in depth look at Orange County’s employment situation I have seen. America is crony capitalism, and it will not stand because it is not liberty, but rather, a controlled form of slavery. I understand investors make money all the time but I will call this a fraud if banks are breaking the law. I really don’t think it matters to a significant extent how people financed the house, or how much of a down payment they had.
There were various issues involved (including a jobless period), but the end result is that he short-sold the condo in 2009 or 2010 because there didn’t appear to be any hope that the price would recover and he could rent for less.
I’ve seen several demographics charts that have shown how the middle has been withering. I am always told I came in second (as if that matters) to people who either, offer more than asking rent, give giant deposits, or offer multi year lease commitments with increases. This is the first time since 2008 that the CAR’s Traditional Housing Affordability Index (HAI) has fallen below 40%. The report also revealed that the average home price across the tracked cities had climbed back to Spring 2004 levels. Although this was up 10.4% from the year before, it nevertheless stands as a substantial decrease. Year-over-year, single-family starts rose by 11.5%, and are expected to grow further in accordance with recent reports of rising builder confidence. And since the FED is up against the zero bound for the target and discount rates, there isn’t much room left to maneuver. Unfortunately for all of us, the UCLA professors have published an awful article with the public’s money (our tax money!). But with the state’s population continuing to grow, pent-up demand for housing could lead to an increase in construction activity — and hiring — in late 2011, the forecast predicts.
This aerial file photo shows homes on the site of the former Tustin Marine Corps Air Station. While some of this recent drop can be explained by many families moving before August, when school starts, it’s still a fairly steep drop for the month. The drop in sales growth, and increase in prices seems to be linked to continued low inventory, driving up the demand, while also limiting the opportunities available.
With the 2012 LA county median annual income of $53,001, a house selling for around the $271,000 price point is all many can afford. Sales were also down 2.1% from the year before, marking the first year-over-year decline since September.
Higher food and energy prices result in less discretionary income, which result in less money to pay the mortgage. The only thing the FED can do is buy intermediate maturity treasuries (7 to 10 yr) to drive down the 30 yr mortgage.
Foreign tourists are returning to California, according to data on international arrivals from Los Angeles International Airport and San Francisco International Airport.
Homes sales in Orange County, CA between $1 million and $2 million are up 46% in the past year.
Even with the drop, however, it remains a year-over-year increase, up 6.7% from the previous year, and marking the strongest September since 2009. Then one day the light bulb went on and I realized the banks, hedge funds, the federal government, The Fed, etc. Houses in nicer areas such as Yorba Linda, Anaheim Hills, some areas of Brea, Newport Beach (and other coastal areas), and south county might hold their value better than houses in Stanton or La Habra. Even if the 10 yr note drops to 2% (for 10 yrs!) there is a risk premium of typically 1.5% on top of that for 30yr mortgages.
An economy that is growing, low jumbo loan interest rates and excellent home prices are the leading factors.
But all houses will lose value in the event of an economic downturn, as was demonstrated in 2009-2012. The best that the FED can hope is that enough borrowers default out of their unaffordable mortgages, and new buyers take over the debt at low rates, thus keeping the prices high (and protecting bank capital, which is what this is really all about).
I’ve seen more than one single family home in Newport Beach in 2011 that sold for around $600k-$700k, now selling for $1.2M+. Through the years, my wife and I maintained a modest lifestyle while working secure, ho-hum jobs at telcom companies in So.
These two factors are creating a sizzling real estate market.And this is not a temporary situation. Steven Thomas of Orange County Housing Reports says “every range is experiencing a tighter inventory compared to last year. Even homes above $2 million are experiencing fewer homes, 15% fewer.” In regards to demand, Steven points out that “demand is 25% stronger than last year. We got to watch the excesses and not have to pay the prices of insane RV’s, ski boats, cabins at Arrowhead, etc. Since they can’t be sold to Fannie Mae and Freddie Mac, each lender creates their own guidelines for qualification. Outsiders, please read and believe all the bad press you here about this state, it’s sheer hell, stay away! In most cases, these loans will become portfolio loans, meaning they will be held by the bank or investor who underwrites them. They can set the maximum loan-to-value, FICO score requirements and interest rate pricing.Finding a jumbo loan program that suits your needs can be challenging. For instance, you may opt for a rate that may be .125% better but we may be coming back to you many times for the most unreasonable of requests. I say this not to scare you but to set the proper expectations.High end housing is abundant in Orange County.
If you need more jumbo loan program options we currently have over 15 jumbo investors to fit your home financing needs.Scott StoraceIf you like this post please share it!

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