O.C. house prices up 16%, Realtors report

December 18th, 2012, 11:59 am · · posted by Jeff Collins

Another housing market tracker reports steep gains in prices and sales of Orange County houses last month.
However, the California Association of Realtors warned that higher prices are tied in large part to a shift to sales of higher-priced homes as the supply of cheaper homes remains tight.

The median price of a detached single-family home in Orange County rose 15.9 percent in November, to $565,020, from the November 2011 median. That’s the fifth-highest median – or price at the midpoint of all sales – in the past four years, the Realtor association reported.

By comparison, DataQuick Information Systems reported last week that the O.C. median house price had increased 14.1 percent from year-ago levels, to $525,000.

The Realtor group said that Orange County house sales soared 30.1 percent in November from year-ago levels, to 1,531 units, compared with DataQuick’s sales tally of 1,841 units, up 23.1 percent

DataQuick sales figures tend to be higher because the research firm gets its figures from the county clerk-recorder’s office. The Realtors derive their figures from the multiple listing service database, which doesn’t include all sales.

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Scott Daniel Provides an Unsurpassed Commitment to Clients

With over $175 million in career sales in just under 10 years in the real estate industry, Prudential California Realty’s Scott Daniel has landed himself in the top 10 agents in North Orange County. With more than nine years of sales, marketing and leadership experience, Scott has achieved this award-winning level of production as a result of his unsurpassed commitment for providing superior representation to his clients. Above all, Scott has achieved these heights with the utmost level of integrity and ethics. “I have been in the Real Estate business for over 12 years and can honestly say that Scott is one of the most sincere, honest and hard-working agents I have ever met,” said Prudential California Realty Vice President of Sales Brad Pearson. “I would recommend him to anyone thinking of buying or selling a home!”

Scott and his team provide service that is second to none. Every listing is assigned a best-in-class sales and marketing campaign and receives the support of industry-leading advertising, social media, video, staging and interior design. All partnered professionals work together to develop a strategic and tactical plan customized to each client and property. Kimberly Smith is the team’s Executive Director of Client Services and brings eight years of marketing and public relations experience to the role. With emphasis in client services, she participates in idea launches, real estate transactions, marketing campaigns, and contract management to allow each transaction to flow as smoothly as possible. With a true passion for helping clients, team member and agent Greg Almquist guides them through the entire home buying and selling process. Greg has the ability to match the potential of a house with the needs of a client – that means showing you what a house can be in addition to what it already is.

Scott was born in Orange and has lived in Anaheim Hills for over 20 years. He prides himself on making each client's real estate experience successful in every aspect of the transaction - from the first day, through the negotiations and representation, to the closing. Clients Chris and Meredith Patton comment, “Scott was always easy to reach, returned calls very quickly, was very thorough and polite! Scott was a pleasure to work with. We were glad to work with someone so professional and kind. We would definitely recommend friends and family in the future!”

Facts about Scott:

•$175 Million in career sales
•$15 Million in Sales is last 9 months
•7 Active Listings
•11 Pending Transactions
•29 Sold Properties in 2012
•Top 5 Agents in Anaheim Hills
•His three kids, Blake, Natalie and Christian are all born and raised in Orange County
•Scott has been married to his wife Beth for 26 Years
•Likes to play basketball, workout, read and spend time with his wife

“I appreciate you as a client and a friend,” says Scott. “I appreciate your business, your loyalty, trust and your referrals. It is my goal to provide the very best counsel, advice and service possible for your real estate needs. If I may ever be of assistance to you, a relative, friend or co-worker please don’t hesitate to call me.” To contact Scott, call (714) 420-0292 or visit www.scottsellsthehills.blogspot.com.

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CoreLogic Home Price Index Marks Eighth Consecutive Month of Year-Over-Year Gains

December 04, 2012, Irvine, Calif. –

––6.3 Percent Increase Recorded in October, Pending HPI Forecasts 7.1 Percent Increase for November––

CoreLogic^® (NYSE: CLGX), a leading provider of information, analytics and business services, today released its October CoreLogic HPI^® report. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 6.3 percent in October 2012 compared to October 2011. This change represents the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally on a year-over-year basis. On a month-over-month basis, including distressed sales, home prices decreased by 0.2 percent in October 2012 compared to September 2012*. Decreases in month-over-month home prices are expected as the housing market enters the offseason. The HPI analysis from CoreLogic shows that all but five states are experiencing year-over-year price gains.

Excluding distressed sales, home prices nationwide also increased on a year-over-year basis by 5.8 percent in October 2012 compared to October 2011. On a month-over-month basis excluding distressed sales, home prices increased 0.5 percent in October 2012 compared to September 2012, the eighth consecutive month-over-month increase. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic Pending HPI indicates that November 2012 home prices, including distressed sales, are expected to rise by 7.1 percent on a year-over-year basis from November 2011 and fall by 0.3 percent on a month-over-month basis from October 2012 as sales exhibit a seasonal slowdown going into the winter. Excluding distressed sales, November 2012 house prices are poised to rise 7.4 percent year-over-year from November 2011 and by 0.5 percent month-over-month from October 2012. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.

“The housing recovery that started earlier in 2012 continues to gain momentum," said Mark Fleming, chief economist for CoreLogic. “The recovery is geographically broad-based with almost all markets experiencing some appreciation. Sand and energy states continue to experience the most robust appreciation and some judicial foreclosure states are even recording increasing prices.”

“We are seeing an ongoing strengthening of the residential housing market,” said Anand Nallathambi, president and CEO of CoreLogic. “Reduced inventories and improving buyer demand are contributing to stability and growth in home prices which is essential to the long term health of the housing market and the broader economy.”

Highlights as of October 2012:

• Including distressed sales, the five states with the highest home price appreciation were: Arizona (+21.3 percent), Hawaii (+13.2 percent), Idaho (+12.4 percent), Nevada (+12.4 percent) and North Dakota (+10.4 percent).
• Including distressed sales, the five states with the greatest home price depreciation were: Illinois (-2.7 percent), Delaware (-2.7 percent), Rhode Island (-0.6 percent), New Jersey (-0.6 percent) and Alabama (-0.3 percent).
• Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+16.6 percent), Hawaii (+12.2 percent), Nevada (+10.8 percent), Idaho (+9.7 percent) and California (+9.7 percent).
• Excluding distressed sales, this month only three states posted home price depreciation: Delaware (-2.1 percent), Alabama (-1.5 percent) and New Jersey (-0.2 percent).
• Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to October 2012) was -26.9 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -20.6 percent.
• The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-53.5 percent), Florida (-44.5 percent), Arizona (-40.2 percent), California (-36.6 percent) and Michigan (-35.3 percent).
• Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 17 are showing year-over-year declines in October, four fewer than in September.

*September data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.
Full-month October 2012 national data can be found at http://www.corelogic.com/HPIOctober2012.

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5 Reasons to Buy a Home Now Instead of the Spring

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

Price Increases Are on the Horizon

Prices were expected to bounce along the bottom this winter. However, many pricing indices (examples: CoreLogic, FHFA, LPS, Case Shiller) are reporting that prices are continuing to rise.

Rents Are Skyrocketing

Rents historically increase by 3.2% on an annual basis. A study issued earlier this year projects rent increases of 4% for the next two years. Trulia recently reported that rents this year have actually shot up by 5.4%.

Interest Rates Are Projected to Rise

The Mortgage Bankers Association has projected that the 30-year mortgage interest rate will be 4.4% by the end of 2013. That is an increase of approximately one full point over current rates.

Buy Low, Sell High

We would all agree that, when investing, we want to buy at the lowest price possible and hope to sell at the highest price. Housing can create family wealth as long as we follow this simple principle. Today, real estate is selling ‘low’. It’s time to buy.

by The KCM Crew on November 28, 2012

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507 S. Laureltree Drive - Anaheim Hills - $699,000 - $729,000

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Homes Are Selling Like Hotcakes!

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