Orange County Real Estate Market Trends & News

July 28, 2016

Wendy (Wenxiao) Luo Lists Gorgeous Condo in West Covina

3555 Bottlebrush
West Covina, CA 91792
2 bed(s) 3 bath(s) 1246 square ft.

Gorgeous condo, conveniently located in the Fox Glen gated community of West Covina: 2 bedrooms + loft (can be used as a third bedroom) with 2 1/2 bathrooms, newer remodeled kitchen with granite countertops, newer cabinets and all stainless steel appliances. Newer laminate floors and solid wood stairs. This unit overlooks a beautiful lush greenbelt and features a garden patio. Quiet and private like END UNIT. Attached 2 car garage with plenty of guest parking. Community pool, spa and beautifully maintained landscaping throughout. HOA dues include exterior maintenance, water, trash and insurance. Walking distance to supermarkets, easy access to 60 & 57 & 10 freeways This one sells itself!

 

  

  

 

Posted in West Covina
July 5, 2016

Orange County Summer 2016 Market Report

The Orange County real estate market is slowing down as we jump into summer. The slowing down of the market means less competition between buyers and longer time for sellers to get their homes into escrow and sold. Although many buyers are becoming less flexible it's still a sellers market due to the current average days on market. 74 days is the current average time on the market for Orange County homes.

Tips for Summer Sellers: Price it right! Incorrectly pricing the home could lead to longer days on the market and eventually take the home into the fall market. Not good for sellers!

Tips for Summer Buyers: While other buyers are becoming less flexible, paying fair market value or even purchasing at a small amount over can ensure your offer(s) are getting accepted over the competition's.

 

The active inventory has risen by a large amount in the last two weeks, bringing the total of active listings to 7,104 (most this year). The rise in inventory looks to continue into the fall season.

 

Orange County Active Listing Year over Year

Active listings are up as the demand is down. Demand will also continue to decrease into the fall season.

 

Orange County Demand Year over Year

 

Taking a look below at the numbers representing Orange County as a whole and it's cities individually we have a few interesting facts that can be gathered.

  • The average list price for all of Orange County is $1.5 million! - Wow!
  • For homes priced below $750,000, the market is HOT with an expected market time of just 47 days. This range represents 44% of the active inventory and 69% of demand.
  • For homes priced between $750,000 and $1 million, the expected market time is 83 days, a slight seller's market. This range represents 18% of the active inventory and 16% of demand.
  • For luxury homes priced between $1 million to $2 million, the expected market time is at 148 days, increasing by 20 days in the past couple of weeks. For luxury homes priced above $2 million, the expected market time increased from 249 days to 322 days. The luxury end, all homes above $1 million, accounts for 38% of the inventory and only 15% of demand.
  • Distressed homes, both short sales and foreclosures combined, make up only 1.9% of all listings and 3.6% of demand. There are 51 foreclosures and 84 short sales available to purchase today, that's 135 total distressed homes on the active market, a drop of 3 in the past two-weeks.
  • There were 3,025 closed sales in May, a 9% increase over March and 3% more than last year's 2,930 closings. The sales to list price ratio was 98.3%. Foreclosures accounted for 1% of all closed sales and short sales account for 2%. That means that 97% of all sales were equity sellers.

 

 

Orange County Market Report by City

 

Search all Orange County Homes

June 30, 2016

Short-Term Rentals (STRs) Banned after Anaheim City Council Meeting

 

Short Term Rentals Banned

 

Yesterday the City Council met, voted, and placed a ban on all Short-Term Rentals (STRs). The meeting was 5 1/2 hours long, debated whether to impose greater regulations on STRs or ban them altogether, and had several members of the community voice their opinion at City Hall.

More than 150 people in favor of the ban on STRs gathered and chanted "What do we want? A ban! When do we want it? Now!", "Si Se Puede!" (This can be seen in our video below). Others held up signs that read "Homes Not Hotels" and "Neighborhoods! Not Motels!". It was clear that there's been an on-going battle with strong supporters of the ban and the owners of 363 permitted STRs. This was a very big, important meeting for the city and it's residents.

The meeting brought up the negative impact that many new, successful companies such as Airbnb and HomeAway have had on residents in neighborhoods where the STRs are set up. The feeling that these rentals have turned their neighborhoods into businesses, motels, and party locations has left a lot of them upset and angry. Anaheim isn't the first city to tackle the issue. Major cities around the world are dealing with the same problem and their have been bans and meetings in Berlin, Tokyo, Paris, New York, and several others.

The other side of the debate claimed that the short-term rentals were actually good for neighborhoods and the city, driving up home prices via home upgrades and bringing in revenue from tourists. Many use the short-term rentals as an extra source of income and others as their sole business. Money for the residents, the city, and themselves sounded like a win, win, win for those in favor of the improved regulations as opposed to the full ban but win, win, win is not what they did on Wednesday night as the council imposed the ban.

The final ruling was a complete ban on all Short-Term Rentals from the city of Anaheim and to have current permits phased out in 18 months (originally was to be 3 years).

 

 

 

May 18, 2016

Just Sold - Probate Sale in Fullerton with RE/MAX Agent Ginger Douglass

630 Pacific Fullerton Probate

 

630 S Pacific, Fullerton - Just Sold and Closed! 

 

$426,000

 

Ginger Douglass represented the seller on this probate sale in Fullerton. The 4 BR/2 Bath home was an investors dream. A great price for this neighborhood! The sale was done quickly and quietly. No sign or open house needed! Gingers experience working with probate sales has led to a number of smooth transactions just like the one at 630 S Pacific.

Ginger currently has two other listings on the market, both in Chino Hills. With how quickly she works these will be in escrow in no time. To check them out visit the listing pages here:

15715 Palo Alto Avenue, Chino Hills

17868 Paseo Del Sol, Chino Hills

 

 

To find out more on Probate Sales in Fullerton or to Contact Ginger for any real estate needs:

Ginger Douglass

(714) 458-6234

 

March 18, 2016

I Want to Rent a Home in Fullerton

 

City of Fullerton

 

Fullerton is a vibrant city with a rich history. It's one of the most popular cities in the county to rent a home! So what do you need to know before beginning the process?  We sat down with Linda Hayward, the Orange County leasing expert and had her give us 5 of the most valuable tips for those looking to rent a home in the city of Fullerton. 

1. The most important thing you need when renting a home in Fullerton is verifiable income. You need to provide information to the landlord that shows you have the ability to pay the rent.

Bank Statement

 

2. Showing a good rental history. Good references are important. If a landlord knows you've had a good record of renting they will be more likely to accept you as a tenant.

3. Fico Score - Contrary to popular belief, your Fico Score/Credit Score will not be the MOST imporant factor when renting a home in Fullerton.  Everyone has credit challenges. That being said, 650 is a decent number for your score.

 

FICO SCore

 

4. Pets - Pets are always a big issue when renting a home. Submitting information on your pet along with a photo is a great way to introduce them to the landlord. A pet deposit of about $400 is an average price.

 

Olive

 

5. The last tip, actually more important than the first, is to call the leasing expert Linda Hayward. She will help with any additional questions on leasing a home in the city of Fullerton and if you own a home in Fullerton that you're looking to lease out she can help with that too.

 

 

Linda Hayward

Linda Hayward

(714) 920-9198

RE/MAX NOC

 

 

Feb. 16, 2016

Upland Executive Home Leased for $2350 by Eko Kuntjoro

1777 Sunnybrook Ave. Upland, CA Just Leased

 

1777 Sunnybrook Ave Upland Leased

 

RE/MAX NOC Broker/Associate Eko Kuntjoro recently leased this home for $2,350. The 3 Bed/2 Bath home is located in a desirable neighborhood in Upland. The home has several newer features; Windows, flooring, kitchen appliances, and paint. This is Eko's second lease of the year!

As well as leasing and selling in the San Bernadino county, Eko also works in North Orange County. He currently has a beautiful listing in the prestigious Yorba Linda neighborhood of East Lake Village. The home just got a MAJOR price reduction! Check out the listing here:

20080 Via Monita Yorba Linda, CA

 

Check out Eko's Yorba Linda Market Report Here:

Eko's Yorba Linda Market Report

 

Eko Kuntjoro

(714) 932-9317

eko.remax@gmail.com

http://ekokuntjoro.com

 

1777 Sunnybrook Av Upland 91784 Room 1777 Sunnybrook Av Upland 91784 Fireplace 

1777 Sunnybrook Av Upland 91784 Photo 1777 Sunnybrook Av Upland 91784 Extra Room 1777 Sunnybrook Av Upland 91784 Backyard

 

Feb. 3, 2016

RE/MAX Agent Rachel Holborn is Great with First Time Home Buyers

572 Clemson Anaheim Stanford Court

 

RE/MAX Agent Rachel Holborn is Great with First Time Home Buyers

It's always a difficult task to take the plunge in to becoming a homeowner for the first time. It is one of, if not the biggest purchase of your life. Rachel made the process as smooth as possible for her clients and they ended up finding a place that they will be proud to be calling home for a long time. The relationship between Rachel and her first time home buyers was great. It was so great that Rachel felt the need to do something special for her clients before they moved in. She cleaned their place from top to bottom and left a few goodies on the counter top to make them feel right at home from the get-go.

Rachel works the Orange County area and knows Anaheim well. Find her contact information and her Anaheim Market Report below:

Rachel Holborn

(714) 469-6154

Rachel's Anaheim Market Report

First Time Home Buyers Gifts

Jan. 29, 2016

Ginger Douglass Represents Buyer in Eagle Glen Community in Corona

3980 Belfry Eagle Glenn

Ginger Douglass Helps Buyer with Eagle Glen Purchase!

Ginger's buyers are proud new owners of a home in the prestigious Eagle Glen community in Corona. A cul-de-sac home at a great price and great features. Belfry is a 5 Bed / 3 Bath home with 3,203 sqft of living space. 

Ginger has previously closed transactions in the city of Corona and like the cities of Orange County, knows the area well. Average home prices have stayed fairly steady in Corona, with less than a $50,000 increase over the last year. Despite the cities growth, Corona still has great homes at affordable prices.

Congratulations to RE/MAX NOC agent Ginger Douglass and her buyers!

 

Eagle Glen Market Report

 

Ginger's Current Listings:

 

15715 Palo Alto Chino Hills

4836 Baldwin Temple City

3720 Spire Perris

2300 W 31st Los Angeles

630 South Pacific Fullerton

Posted in Corona
Jan. 28, 2016

11 Norton, Irvine 92612 Leased by Wendy Wenxiao Luo

11 Norton Irvine Leased

 

11 Norton in Irvine was just leased by Chinese-speaking agent at RE/MAX NOC, Wendy (Wenxiao) Luo.  Wendy's clients were looking for buyers that wanted a fairly new custom-built home. The buyers found her lease and the fact that it was within an award-winning school district made it that much better. Irvine Unified School District continues to attract both buyers and renters. As well as an amazing school district the city maintained it's #1 spot as the Safest City in America.

Congratulations to Wendy and her clients!

 

Home Details:

 

BED/BATH: 4/3 SQFT: 2,243 LOT: 5,000 BUILT: 2008 

GARAGE: 2 STORIES: 1 LEVEL POOL: ASSOCIATION, COMMUNITY POOL

For more information on homes in the Irvine Area please contact:

Wendy (Wenxiao) Luo (626) 991-1275

Wendy's Current Listings:

3750 Lakeview, Fullerton 92835

22810 Chardonnay DR #2, Diamond Bar 91765

22810 Chardonnay DR #2 Diamond Bar 91765

 

Jan. 28, 2016

3750 Lakeview, Fullerton, CA 92835

 

3750 Lakeview, Fullerton

Beautiful 4/5 bedroom home with captivating mountain and City lights view.  Logical and open floor plan with high ceilings.  completely remodeled with upgraded finishes-granite counters,designer carpet, real wood floors etc.  Four large upstairs bedrooms have ensuite bathrooms.  All new updated bathrooms, spotless kitchen with brand new stainless steel appliances including Viking cooktop.  Over $150,000 recently completed upgrades includes outdoor landscaping and indoor upgrades.  Located in the prestigious Sunnyhills neighborhood of Fullerton with award winning public schools- Laguna Road Elementary, Parks Junior High and Sunny Hills High School.  Troy High School is also an option.

 

          


                    

          

          

          

          

          

 

 


Agent: Wendy Luo (626) 991-1275 & Christine Cho (714) 353-3515

 

    Co-listed with: Sonia Shah (714) 470-8734