JUST LISTED - 21170 Via Lugo - Yorba Linda - $799,000-$849,000

NEW ON MARKET!!Model Perfect Travis Ranch Home in CUL-DE-SAC WITH ROOF TOP VIEW! Beautifully upgraded! Front Entry opens to a beautiful Family room, Cathedral ceilings with separate formal dining room. Scraped ceilings, Designer molding,crown molding  Lauzon wood floors, Plush Carpet, Tile flooring and Simon-ton Dual Pane Windows Throughout Home. New Stainless Steel Appliances, Granite Counter Top, large granite kitchen island, Custom travertine Back splash  custom maple cabinets, beautiful custom kitchen ceiling with lighting & large new patio window are part of a kitchen you will not want to leave! Family room has surround sound, Fireplace refaced with stack stone and new mantel! Inside Laundry,remodeled full bath & guest room downstairs!! Second story which has three bedrooms, including a beautiful Master Bedroom and two upgraded bathrooms! LARGE Backyard Is Perfect For Entertaining!! Concrete Patio with large newly painted cover,outside speakers,custom lighting, retreat area off family room formal dining area, beautifully manicured lawn and shrubbery and large side storage area. This Home Has New! Interior & Exterior Paint, 3 car garage, is Close To Award Winning Schools, parks, Dining, Shopping, Freeways and Toll Roads.

21170 Via Lugo Detailed Listing Report

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Top 10 Remodeling Projects [INFOGRAPHIC]

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Future House Values? Simple as Supply and Demand

For some time now, we have attempted to shed light on the fact that pricing in today’s real estate market, as it is in the markets for every other sale able item, will be determined by the concept of ‘supply and demand’.

According to dictionary.com:

“The relationship between supply and demand determines the price of a commodity. This relationship is thought to be the driving force in a free market.”

In real estate, supply and demand is represented as the current month’s supply of homes for sale (the number of homes for sale divided by the number of homes sold in the previous month).

While there is no steadfast rule that will apply to pricing in every category of housing, here is a great guideline:

• 1-4 months supply creates a sellers’ market where there are not enough homes to satisfy buyer demand. Appreciation is guaranteed.
• 5-6 months supply creates a balanced market. Historically home values appreciate at a rate a little greater than inflation.
• 7-8 months supply creates a buyers’ market where the number of homes for sale exceeds the demand. Depreciation follows.

What is happening across the country right now?

In most parts of the country, home values are rising. This is for two reasons:

1. According to NAR’s latest Existing Homes Sales Report, raw unsold inventory is at the lowest level since December 1999 when there were 1.71 million homes on the market.
2. According to this month’s Pending Sales Report from NAR, houses going into contract reached levels last seen in April 2010 which was the month the Home Buyers’ Tax Credit expired.

This has resulted in a 4.2-month supply at the current sales pace which is the lowest housing supply since April 2005 when it was also 4.2 months.

Based on the table above, we can see that the supply/demand ratio is leaning toward a sellers’ market where prices will appreciate. That has created positive movement in housing values in most parts of the country.

When your real estate professional discusses home values, he/she should be prepared to show what the supply/demand ratio for homes similar to yours is in your area.

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