Category Archives: Real Estate News

Aug 14
The Coast just moved closer to Ladera Ranch!

PataExtension

After years of planning, the La Pata extension is finally connecting Ladera Ranch with San Clemente. In an exciting opening event last Saturday, August 8th, 2016, the ribbon was cut and the newly constructed road opened for the public.

A car show, vendor booths, food trucks, live entertainment, exhibits, displays and fun family activities contributed to the festivities.

Does this finalized project make Ladera more attractive? Absolutely. This new road cuts travel time from the Ladera Ranch community to many Southern California attractions and shops (Target, Lowes) by a substantial amount, avoiding the often clogged 5 freeway from San Juan Capistrano to San Clemente.

Photo: OC Register

Aug 12
The new Ladera Ranch Sport Center opens

Ladera-Ranch-Sports-Center

The Ladera Ranch Sport Center, a 63,000 sqft state-of-the-art gymnasium featuring 8 basketball and volleyball courts, opened on August 8th, 2016.

Over 1,000 community leaders, officials and families showed up for the festivities, which included an autograph session from professional basketball player Tyson Chandler of the Phoenix Suns, a slam-dunk performance by the TNT Dunk Squad, basketball and volleyball contests as well as a kid fun zone.

The high quality center sure helps to put Ladera Ranch on the map. Sports fans from all of Southern California will visit this state of the art center for either training or competition. An asset that certainly enriches our already great community.

Mar 31
How the housing bust changed buyer behavior

Before the housing bust, many buyers were driven by the fear of being out-priced by increasing property prices. For 80 years, with a few minor downturns in between, real estate prices have constantly risen.

“Buy now or be priced out forever” has been a real problem in California real estate for the better part of 40 years. It has been a rational fear because waiting often meant buying less or not buying at all. A strong economy and job growth often outpaces construction, pushing real estate prices higher and higher.

The housing bust changed all that. People now understand the house prices could go down, substituting down in quality just to own is not a wise decision, and priced out can quickly turn to priced in. The urgency is gone, people buy when it is right for their family. Sellers have to be aware and make sure they are pricing accordingly to generate interest from wary buyers.

Dec 15
National Home Sales Increase, Housing Inventory Dips

BlogStats

Now is a good time to buy a home or list your home for sale. The national housing market trends show an increase in home sales and a decrease in home inventory. National existing-home sales increased in September to the second-highest pace since February 2007. Interest rates are holding steady near 4 percent, and job growth—while modest in comparison with the first half of the year—is still strong. Rent prices have climbed to an eight-year high, making it less affordable to rent and more affordable to own a home.

National Home Sales Increase
Total existing-home sales reached 5.5 million in September, a 4.7 percent increase from August and an 8.8 percent rise above a year ago. What’s more, for the past 12 months, year over year existing-home sales have increased, according to NAR. Gains were recorded in every region of the country. In the Midwest, existing-home sales climbed 2.3 percent in September; sales are 12 percent higher than September 2014. Sales in the South rose 3.8 percent month over month and 5.7 percent year over year. The largest sales gains in September were seen in the Northeast, with an increase of 8.6 percent, and the West, with an increase of 6.7 percent. Year over year, sales rose in the Northeast and West 11.8 percent and 9.5 percent, respectively.

National Inventory Dips
By the end of September, there was a total of 2.21 million existing homes on the market, a decrease of 2.6 percent. This is 3.1 percent lower than a year ago. At the current sales pace, this level of inventory represents a 4.8-month supply—a drop from August’s 5.1-month supply. Persistent inventory shortages have plagued the housing market all year, yet the market has still posted gains. This is thanks in large part to sellers taking advantage of rising home prices to release equity in their current home and either sell up or downsize. First-time buyers, however, are still struggling to find a way into the housing market. First-time buyers represented only 29 percent of the market in September; this is down from August’s yearly high of 32 percent and unchanged from September 2014’s.

Source: Alliance West Mortgage, INC

Jul 21
New Construction Increases, and National Pending Home Sales Climb

LaderaRanchConstructionHousing production reached the highest levels since November 2007. And the gains could continue in the coming months, as low interest rates and affordable home prices encourage more buyers to enter the market. In April, housing starts rose to 1.135 million units, an increase of 20.2 percent from March. The South was the only region to see housing starts drop, with a decrease in production of 1.8 percent. Housing production was booming in the Northeast with an 85.9 percent gain. In the Midwest and West production increased 27.8 percent and 39 percent, respectively. When it comes to projects still in the planning stages, 1.143 million permits were issued in April, a climb of 10.1 percent. The Midwest saw a 1.3 percent decline in the number of permits issued. But all other regions reported permit gains―of 38.8 percent in the Northeast, 9.9 percent in the South, and three percent in the West.

National Pending Home Sales Increase
April’s Pending Home Sales Index, which measures contract signings, climbed to the highest level since May 2006. What’s more, the index has been on a steady climb every month this year. According to the National Association of Realtors, buyer demand is strong despite inventory shortages in many metropolitan areas across the country. With more buyers competing for fewer homes, it is quickly becoming a seller’s market, and home prices are increasing as a result. Contract signings were up in every region of the country, with the Northeast and the Midwest posting the largest gains. A 10.1 percent climb in the Northeast put the index 9.4 percent higher than a year earlier. In the Midwest, the index increased five percent month-over-month and 13.3 percent year-over-year. The South saw contract activity rise by 2.3 percent from a month earlier and 14.8 percent year-over-year. In the West, the index climbed a slight 0.1 percent, but was 16.4 percent higher than April 2014.

Housing Still Affordable
Of all the new and existing homes sold in the first three months of the year, 66.5 percent of them were affordable to families earning the U.S. median income of $65,800, according to the National Association of Home Builders/Wells Fargo Housing Opportunities Index. Homes are now more affordable than they were at the end of 2014, when median-income families could only afford 62.8 percent of homes sold. With 85 percent of metropolitan areas across the country reporting an increase in housing affordability, now is a great time for consumers to purchase a home.

 

 
Source: Alliance West Mortgage, INC