Mission Viejo

30-Year Fixed Mortgage Rate Hits New All-Time Low

September 14, 2011 By admin Leave a Comment

Home Buying in Orange County CA – 30 Year Mortgage Rates

Home Mortgage interest rates for 30-year fixed mortgages fell once again this week, with a rate borrowers being quoted on websites such as Zillow Mortgage Marketplace at 3.91 percent, down from 3.92 percent this same time in the previous week. This interest rate represents the lowest rate recorded since the launch of Zillow’s Mortgage Marketplace in 2008. The previous low was 3.92 percent, first recorded back on Aug. 10, 2011.

The 30-year fixed mortgage rate remained below 4 percent level for most of last week, fluctuating between 3.92 and 3.99, until climbing to 4.09 percent just yesterday. The intereest rate quickly returned back to 3.92 percent during the same day and then climbed one last time before dropping suddenely to the current rate this morning.

In addition, the 15-year fixed rate mortgage rate this morning was 3.12 percent and for 5/1 Adjustable Rate Mortgage’s (ARM’s), the rate was only 3.48 percent.

All signs are pointing to one of the countries best real estate buying opportunities in many years. If you are thinking of purchasing a home anywhere in Orange County California, there may not be a better time than now, with these interest rates at all time lows and home prices at 6 and 7 year lows.

Cities such as Ladera Ranch CA, Mission Viejo, San Juan Capistrano, Coto De Caza and many others have excellent home buying opportunities right now.

The choices of Short Sale Homes, Bank Owned Homes and Foreclosure opportunities are plentiful in these outstanding neighborhoods.

For more information about home buying opportunities in these areas call mark (949) 292-5511 or Deborah (949) 292-5509

Filed Under: Coto de Caza, Helpful Tips, Ladera Ranch, Market Conditions, Mission Viejo, Mortgages, Real Estate Blog

Orange County Bank Owned and REO Homes for Sale

December 9, 2010 By Jim Starkey Leave a Comment

Orange County Bank Owned and REO Homes for Sale

Investors, first time home buyers, and buyers shopping for the best real estate deals in Orange County California look no further. There are currently 229 bank owned or corporate owned REO properties that are perfect for the small investor or the large fund manager that would like to pick up Orange County real estate at rock bottom prices. The 229 properties range from a 19 million dollar South Laguna Village panoramic ocean view home in Laguna Beach to a $164,000 dollar Lake Forrest Vista del Flores condominium. If you are looking for great deals in Orange County Real Estate now is the time to buy. Interest rates are low today but are moving up. Don’t miss this perfect opportunity to buy Orange County real estate.

Call a Priority Real Estate Professional today to get a list of REO homes in any city in Orange County California! 949-900-3800

Orange County City Current Bank Owned REO Homes

Aliso Viejo 24

Coto de Caza 6

Corona Del Mar 2

Dana Point 15

Laguna Hills 15

Laguna Beach 9

Ladera Ranch 13

Lake Forrest 21

Laguna Niguel 22

Mission Viejo 33

Newport Beach 10

Newport Coast 4

Rancho Santa Margarita 22

San Clemente 24

San Juan Capistrano 11

Filed Under: City News, Coto de Caza, Ladera Ranch, Market Conditions, Mission Viejo, Rancho Santa Margarita, Real Estate Blog, REO Properties

Mission Viejo Real Estate Sales Statistics November

December 9, 2010 By Jim Starkey Leave a Comment

Mission Viejo Real Estate Sales Statistics November

Mission Viejo homes sales held steady in November with 80 homes sold compared to 83 homes sold in October. The average home in Mission Viejo sold for $444,286 and the average price per square foot was $254.48. Homes sold in November in Mission Viejo took an average of 108 days to sell. Mission Viejo homes sold for 94% of there listing price in November. Of the 80 homes sold in Mission Viejo 8 were bank owned REO homes, 23 were short-sales, 49 were standard sales, 51 were single family detached homes, and 29 homes were condominiums.

The highest home sold in Mission Viejo in November was a 3282 square foot 4 bedroom, 4 bath, view home in Anacapa and sold for $1,000,000. The most affordable home sold in Mission Viejo was a 1200 square foot 3 bedroom, 2 bath Aliso Villas condominium.

Filed Under: City News, Market Conditions, Mission Viejo, Real Estate Blog

Mission Viejo Real Estate Market

November 20, 2010 By admin Leave a Comment

Mission Viejo Real Estate Market

The Mission Viejo real estate market has struggled in last few months, even though median prices in Mission Viejo climbed slightly. The number of home sales have decreased over the most recent reporting period, this is also apparent in the overall California real estate market.

According to OC Metro magazine, “Orange County sales fell 12.6% in July, compared to the same period in 2009, and prices fell 14.5% since June of this year. The drop in sales and prices has seen a trend across the entire state of California. The state reported a 20.8% drop in total home sales as compared to 2009.

For the rest of 2010, normally slower seasonal sales may have had an adverse impact on overall median home prices.

C.A.R. (California Association of Realtors) reported, Orange County’s median home prices saw a 6.9% increase in July, as compared to the same period of 2009, which rose to a median price of $449,000.

Newport Beach was again ranked one of the top 10 most expensive cities in California, with a median home price of over $1.1 million dollars. Lake Forest was among the top 10 cities in California which saw the highest increase in median home prices compared to 2009. Lake Forest saw an increase of over 24%

Overall Southern California’s home sales saw a decline. Home sales in Southern California fell 21.2% last few months for the highest drop in more than two years. DataQuick said the Southern California region saw 18,946 sales last month, compared with 24,104 in July 2009.

The median home price in Southern California declined 1.7 percent to $295,000 from $300,000 earlier in the year.

These prices are driving tremendous opportunities in the Mission Viejo Real Estate market. With rates at 40 year lows, it is certainly a good time to consider purchasing a home in Orange County. The combination of low rates and falling prices makes for the perfect storm of opportunity.