Lately, watching the Orange County real estate market has been like being on a sailboat in the middle of the ocean during a storm: lots of ups and downs. Some days, experts say home prices are on the rebound. Other days, not so much. Both sides can pretty much agree, however, that now is the time to invest in real estate. As we head into the New Year, we see that in both Orange County and Los Angeles County, weakness in local home values is at a two-year high.
According to the October reading of the S&P/Case-Shiller Home Price Indexes, home values in Los Angeles and Orange Counties were down almost 1.5% in the month; and down almost 5% in a year. S&P tracks gains or losses on individual homes sold in a specific period.
We also need to consider that home prices are settling back down to pre-inflation levels. So, as a seller, you might be upset you did not get the price you could have gotten in 2006 or 2007, but do not fret: with interest rates as low as they are (and as low as we are told they plan to stay), many individuals and families in Orange County are able to qualify for home mortgages; meaning you can more easily sell your home to a qualified buyer.
And buyers, you know that this is the time for you! Whether you are looking for the perfect Orange County family home to move into or you are interested in joining the thousands of savvy Orange County real estate investors, now is the time to buy! Talk to Cheryl Marquis about her smartly-priced listings throughout Orange County — she just might have the property for you!
Cheryl Marquis has been an active and successful real estate agent in South Orange County, California for more than 25 years. As a TOP PRODUCER in her company, Cheryl has received the specific accreditation of a Certified Relocation Specialist (CRS) and Accredited Buyers Agent (ABR) and is a member of the Who’s Who of Luxury Real Estate, a select network of the world’s leading luxury home agents. A member of C.A.R. (California Association of Realtors), N.A.R. (National Association of Realtors) and O.C.A.R. (Orange County Association of Realtors). To talk to Cheryl about buying or selling a home in Orange County, call her at 949.683.1501 or visit her online at www.CherylSellsOC.com.