Friday, October 4, 2024 / by Bob Cowan
THE ORANGE COUNTY HOUSING REPORT
A JUMP IN DEMAND
PAGE 2
ACTIVE LISTING
THE ACTIVE INVENTORY MAY HAVE REACHED A PEAK TWO WEEKS AGO.
The active listing inventory decreased by 29 homes in the past two weeks, down 1%, and now sits at 3,666, its first drop since March. This drop may be the beginning of a steady fall in the inventory for the remainder of the year, indicating that a peak was reached a couple of weeks ago in mid-September. Nonetheless, the peak is late, typically occurring between July and August. Last year's peak occurred in November, even later. The earlier the peak, the further the inventory falls for the remainder of the year. Orange County housing peaked because of the sharp rise in demand, which ultimately chipped away at the inventory. During the Autumn Market, fewer homes are placed on the market compared to the spring and summer months. The number of sellers coming on the market declines further each month, with the fewest s ...
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bob cowan, california, orange county, october 2024
Tuesday, October 1, 2024 / by Bob Cowan
THE ORANGE COUNTY HOUSING REPORT
A JUMP IN DEMAND
AFTER TOPPING 7.5% IN APRIL, MORTGAGE RATES HAVE DECLINED TO THE LOW SIXES AND HAVE REMAINED THERE WITH DURATION, PAVING THE WAY FOR AN UNCHARACTERISTIC LATE SEPTEMBER
RISE IN DEMAND.
Everyone is always looking for a good deal. With Thanksgiving around the corner, many holiday shoppers will look to Black Friday and Cyber Monday for deep discount savings. Inevitably, in the early morning hours on the day after Thanksgiving, a long line of eager customers will arrive hours before stores open their doors. With the cost of living increases since the pandemic, consumers are looking for huge savings, especially on high-ticket items.
Mortgage rates have been stubbornly high this year. For most of 2024, they have remained above 7%, even topping 7.5% several times in April. They have been falling ever since, dropping below 7% in July and below 6.5% at the end of August. Now that interest rates have beens ...
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bob cowan, orange county, southern california, october 2024
Monday, September 23, 2024 / by Bob Cowan
Thinking about relocating to Southern California? This area is known for its breathtaking beaches, rich cultural diversity, and pleasant weather throughout the year. Whether you're attracted to the vibrant cities like Los Angeles and San Diego or prefer the relaxed feel of beach towns, Southern California offers something for everyone. With its strong economy, excellent job prospects, top-notch educational institutions, and a wide range of recreational options, this region is a major contributor to California’s growth. Find out why Southern California might be the ideal place for you to settle down.
10 Reasons to Love Living in Southern California:
• Gorgeous Weather: Enjoy a Mediterranean climate with sunny skies and comfortable temperatures year-round.
• Beautiful Beaches: Southern California is home to some of the world's most famous beaches, including those in Malibu, Santa Monica, and Laguna Beach.
•Vibrant Cities: Cities like Los Angeles, San Dig ...
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bob cowan, california, orange county, southern california, september 2024
Thursday, August 29, 2024 / by Bob Cowan
The data: For the fourth month in a row, Orange County has led a list of home-price gains across 30 U.S. cities.
The source: My reliable spreadsheet reviewed the June homebuying report from First American Data and Analytics.
Brief analysis: Over the past year, Orange County’s home values have risen by 10.2%. Miami followed with an 8.9% increase, and Pittsburgh saw a 6.5% rise. The slowest markets among the 30 were Austin, Texas, with a 1.9% drop, Alameda/Contra Costa counties with a 0.5% gain, and Sacramento with a 0.9% increase.
In Orange County, affluent buyers are driving up prices due to a limited number of homes available, particularly in the higher-end market segment.
This report provides a detailed analysis of key price segments, revealing a significant disparity in Orange County between lower and higher-end homes. Starter homes, the most affordable category, saw a 6.1% increase over the year (ranked 7th out of 30), while luxury properties exg ...
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bob cowan, your home sold guaranteed, california, orange county, august 2024
Thursday, August 29, 2024 / by Bob Cowan
The program is a component of the county's larger Housing for All initiative.
Orange County has launched “Ready, Set, Orange,” an innovative initiative aimed at accelerating the construction of affordable housing.
As part of the county’s broader Housing for All program, this new effort provides residents with access to eight pre-designed floorplans—four for Accessory Dwelling Units (ADUs) and four for small single-family homes. The goal is to lower barriers to homeownership by streamlining the permitting process, thereby reducing both costs and construction time.
Carter Gresham, Chief Planner for Orange County, noted that the county invested $10,000 to $15,000 for each floor plan. He explained that this initiative eliminates the need to hire an architect and simplifies the design process.
Gresham explained, "The county covered that expense themselves, so it doesn’t have to come from the wallets and pocketbooks of single-family hog ...
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bob cowan, california, orange county, august 2024
