NO BARGAINS!
In comparison to last year, the housing market is profoundly different with higher mortgage rates, more available homes, lower demand, and longer market times. While the industry adjusts to the new "normal", it is important to set proper expectations for the remainder of the year.
Gorgeous MODEL-LIKE home located behind the guard-gates of The Groves in the luxury community of Padova in Orchard Hills! Prime Location! Premium CORNER LOT with lots of privacy and walking distance to both the community pool and two parks within the community.
Read MoreGorgeous SINGLE LEVEL home with a HUGE LOT in the highly sought after community of Woodbridge in Irvine! This home has everything you've been looking for, including 3 Bedrooms, 2 Baths, 2-Car Garage, over 5,600 Sq Ft Lot, and walking distance to North Lake! As you enter the formal foyer, you will be greeted by the spectacular OPEN FLOORPLAN with VAULTED CEILINGS and lots of NATURAL LIGHT.
Read MoreIf you’re shopping for a new home now or are hoping to, you probably feel your heart racing a little. The word is out: Mortgage interest rates are on the rise. This means for the same size loan and house, borrowers will have to pay a higher monthly mortgage bill every month. And that’s prompting many homebuyers to hold out and wait until rates drop, which may not be the best decision.
Read MoreGorgeous home in the highly sought after community of Woodbridge in Irvine! This home has everything you've been looking for, including 4 Bedrooms, 3 Baths, Main Floor Bedroom and Full Bath, 2-Car Garage, and walking distance to North Lake! As you enter the formal foyer, you will be greeted by the spectacular OPEN FLOORPLAN with SOARING VAULTED CEILINGS, hardwood floors, stunning staircase, and lots of NATURAL LIGHT.
Read MoreOPPORTUNITY KNOCKS NOW!
For homeowners looking to sell in 2022, the window of opportunity is closing as inventory climbs, demand falls, and market times grow longer. The longer homeowners wait, the harder it will be to sell. The Orange County housing market already cooled substantially, and it will only continue from here.
So you’re ready to put your home on the market and to you, everything looks great. Unfortunately, much of the wear and tear on your home becomes unnoticeable when it is something you see everyday. While you may not think about the one light switch that doesn’t work or the chipping paint in the guest bedroom, now is the time to take a step back and look at your home with fresh eyes.
Read MoreHIGHER RATES DAMPEN DEMAND
With higher interest rates, demand is down 34% with homes taking longer to sell. As a result, inventory has more than tripled so far in 2022, growing from 965 homes at the start of the year to 3,059 today. The Expected Market Time (the amount of time to open escrow) has increased from 20 days to 45 days. It is still a Hot Seller’s Market (less than 60-days), just not at an insane, instantaneous pace.
