As many investors bought Orange County homes in default from banks over the last few years, inventory is rising which is a good sign for one sector of the housing market.
Aliso Viejo, USA – December 4, 2013 /MarketersMedia/ —
One of the many trends for the Southern California real estate market expected to take place in the coming new year, 2014, will be the type of home buyer. Housing trends specific to the Orange County market, and possibly the biggest, is seeing a turn over from buyers snapping up homes as investment properties to buyers seeking to purchase as a primary residence.
For the last few years, home buyers were competing unsuccessfully against investors who made offers with all-cash and over-bid on properties. This is expected to change as the inventory of homes for sale has risen each month since March, shrinking the competition between buyers to some extent.
According to the Multiple Listing Service, Orange County had 6,350 homes listed for sale in early November, compared with 4,199 a year earlier.
This change in buyer profile could also be attributed to prices as well. Information from DataQuick reports that the median price of an Orange County home –was $550,000 in September. On an annual basis, this represents a 22% increase from the previous year. As a whole, Southern California has experienced a 21.3% rise in the median home value.
One realtor in Orange County is capitalizing on the trend and other changes coming by “Helping Buyers and Sellers Achieve Their Goals.”
“I specialize in Orange County Real Estate for sale,” says Chris Arco, Broker at 1st Nationwide Real Estate based in Aliso Viejo. “We offer a wide array for homebuyers and sellers with prime property listings in Aliso Viejo, Laguna Beach, Laguna Hills, Laguna Niguel, Ladera Ranch, Coto de Caza, Rancho Santa Margarita, San Juan Capistrano, San Clemente, Newport Beach, Irvine and adjacent cities.”
A good real estate agent with years of experience at a company like 1st Nationwide Real Estate will come in handy for home buyers as the market inventory is expected to rise with more homes entering the market. Prices could rise on homes from 7%-11% in any location. These price rises create a softer market because investors are looking for cheap properties. This will be good news for home buyers entering the market.
For those considering a home purchase or listing the South Orange County home for sale, get the information that need from an internet savvy Real Estate firm such as 1st Nationwide Real Estate who simply gets the job done.
It is estimated that 80% of Orange County home buyers in 2013 began their search for a new home by looking on the internet. Owner, Chris Arco specializes in internet listings and thoroughly understands and maximizes the power of the internet.
Talk to them today to find out the market value of the home and their innovative methods to sell the home for top dollar and their expert buyer’s agents to find another dream home from a distressed sale or on the MLS.
For more information about us, please visit http://www.homefinderoc.com
Name: Nate Achore
Address: 65 Enterprise, Aliso Viejo, CA 92656
Organization: 1st Nationwide Real Estate