Snapshot of southern california real estate inventory


I hope you will find the following snapshot of local So. Cal Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot as of January 28, 2011

Orange County

Property Type Average List Price Median List Price Average Days On Market
Single Family under $1M $542,433 $510,000 112
Single Family over $1M $3,164,783 $1,995,000 169
Condo/Townhome under $600K $303,001 $287,500 116
Condo/Townhome over $600K $1,073,937 $840,000 137

 

 Los Angeles County

Property Type Average List Price Median List Price Average Days On Market
Single Family under $600K $310,723 $299,000 106
Single Family over $600K $996,659 $789,000 168
Condo/Townhome under $400K $214,720  $200,000  122
Condo/Townhome over $400K $639,090 $539,900 154

 

Riverside County, CA

Property Type Average List Price Median List Price Average Days On Market
Single Family under $700K $220,586 $191,000 145
Single Family over $700K $2,103,385 $1,199,000 196
Condo/Townhome under $150K $97,099 $99,000 112
Condo/Townhome over $150K $252,842 $206,990 122

 

MORTGAGE RATES (National Averages as of January 28, 2011)*

30-year fixed    Rate – 4.78%

15-year fixed    Rate – 4.08%

5/1 ARM         Rate – 3.42%

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

And Thank You for making me Your Orange County Real Estate Specialist!

Best Regards,

Michael Caruso, Broker ABR ABRM CLHMS CRB CRS GRI GREEN

2007 President, Orange County Association of Realtors

www.michaelcarusorealestate.com

949-753-7900

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My Micro-Level Market Report – featured on OCRegister.com


I was recently asked for the Orange County Register about the micro-level housing market in Laguna Niguel. I see a number of trends, such as an increase in sales of homes up-to- $1 million. Most activity is among homes in the “up-to-$500,000” range, increasing since 2008 and 2009. The current legislative news we are waiting for in 2011 should bring out more buyers once their questions are answered. To read the entire article by Jonathan Lansner and get the full details, click here:  http://lansner.ocregister.com/2010/11/27/bargain-homes-hot-in-lagunaniguel/89534/

And thank you for making me your Orange County Real Estate Specialist!

Best Regards,

Michael Caruso, Broker ABR ABRM CRB CRS CLHMS GRI GREEN

Past President, Orange County Assoc. of Realtors

949-753-7900

http://www.michaelcarusorealestate.com

 

Home Price Decline…


According to Freddie Mac announced on May 26, 2010 that its Conventional Mortgage Home Price Index(CMHPI) Purchase-Only Series for the United States registered a 1.1 % decline from the first quarter of 2009 to the first quarter of 2010. In the first quarter of 2010, the U.S. Index was down 2.1 percent (-8.0 percent annualized) relative to the fourth quarter, on a not-seasonally adjusted basis.

House price measures tend to show a lot of seasonality, with values lower during the slow home-selling months of autumn and winter and higher during the greater-activity months of spring and summer. Examining year-over-year home-value changes largely controls for seasonality. Compared with the first quarter of 2009, the national index dipped slightly – down 1.1% – with three-of-nine regions posting price gains. Houses in the Pacific region were up 4.5 % over the past year, and in the Middle Atlantic and West South Central states prices were up about one percentage point, on average. While values were up the most in the Pacific region over the past year, this gain occurred after values had fallen more than 30 percent over the two prior years, from the beginning of 2007 to the beginning of 2009.

The CMHPI Purchase-Only Series includes only property values based on home purchases with a conventional mortgage in its calculation. Freddie Mac also produces a CMHPI Classic Series that includes data from both home purchase transactions and mortgage refinancings, with the latter values based on appraisals. Generally, because appraisals are backwards looking through the use of recent comparable property transactions, the Classic Series will typically lag changes in the Purchase-Only series. The CMHPI Classic Series indicated that average U.S. home values fell 1.5 % (-6.0 percent annualized) during the first quarter. Comparing the first quarter of 2010 with the first quarter of 2009, the Classic Series shows 6.7 percent depreciation.

The CMHPI Purchase-Only Series had the following regional house-price changes:

Middle Atlantic Division (NJ, NY, PA): decreased 0.4 % (-1.7 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values increased 1.0 percent, and during the last five years, home values increased 10.1 %.
West South Central Division (AR, LA, OK, TX): fell 0.9 % (-3.5 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values were increased 0.7 percent, and during the last five years, home values increased 16.6 %
New England Division (CT, MA, ME, NH, RI, VT): declined 1.1 % (-4.5 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values decreased 1.7 percent, and during the last five years, home values declined 6.5 %.
Pacific Division (AK, CA, HI, OR, WA): decreased 2.0 % (-7.8 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values increased 4.5 percent, and during the last five years, home values have decreased 13.2 %.
South Atlantic Division (DC, DE, FL, GA, MD, NC, SC, VA, WV): fell 2.3 % (-8.8 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values decreased 4.0 percent, and during the last five years, home values fell 5.2 percent.
Mountain Division (AZ, CO, ID, MT, NM, NV, UT, WY): decreased 2.8 % (-10.8 percent, annualized) in the first quarter of 2010. In the last 12 months, home values decreased 6.1 percent; during the last five years, home values declined 4.4 percent.
East North Central Division (IL, IN, MI, OH, WI): decreased 2.9 percent (-11.2 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values decreased 3.4 percent, and during the last five years, home values decreased 8.9 percent.
East South Central Division (AL, KY, MS, TN): decreased 3.1 percent (-11.9 percent, annualized) in the first quarter of 2010. Over the last 12 months, home values decreased 1.8 percent, and during the last five years, home values increased 8.7 percent.
West North Central Division (IA, KS, MN, MO, ND, NE, SD): decreased 3.2 percent (-12.1, annualized) in the first quarter of 2010. Over the last 12 months, home values fell 1.3 percent; over the last five years, home values decreased 0.2 percent.

Unlike other home price indexes based on mean or median values of homes sold during a given period, the CMHPI is constructed using regression techniques from observations of actual sales prices or appraised values of the same homes over time. The street addresses of properties that serve as collateral for mortgages are processed using software certified by the United States Postal Service to create a uniform address format and are then matched to identify consecutive transactions on the same property. There are currently 42 million records in the repeat-transactions database used to construct the classic Conventional Mortgage Home Price Index – this database includes transactions on one-family detached and townhome properties serving as collateral on loans originated through the first quarter of 2010 and purchased by Freddie Mac or Fannie Mae by April 30, 2010.

Freddie Mac publishes the CMHPI each quarter. Index values and growth rates for the classic series are available for the nation as a whole as well as for the nine Census divisions, the 50 states and the District of Columbia, and 392 metropolitan statistical areas (MSAs) and metropolitan divisions; index values and growth rates for the purchase-only series are available for the nation and nine Census divisions.

And thank you for making me Your Orange County Real Estate Connection.     

www.MichaelCarusoRealEstate.com

Best regards,

Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI

2007 President, Orange County Association of Realtors (949) 753-7900

All of the CMHPI series can be found on Freddie Mac’s web site, www.freddiemac.com/finance/cmhpi/.

Re Listed! 5% COMMISSION TO COOPERATING BROKER!


Michael Caruso | Michael Caruso Real Estate Group | 1-949-753-7900
22 Old Ranch Rd, Laguna Niguel, CA
RE-LISTED! 5% COMMISSION TO COOPERATING BROKER!!! Majestic home perfectly placed on enormous, flat lot over 1/2 acre. Outdoor entertainment area &
6BR/7BA Single Family House
offered at $4,495,000
Year Built 1993
Sq Footage 7,600
Bedrooms 6
Bathrooms 7 full, 0 partial
Floors 2
Parking Unspecified
Lot Size .57 acres
HOA/Maint $545 per month

DESCRIPTION

This home is perfectly placed on large flat lot over 1/2 acre in size, providing elegant front grounds & enormous yard w/outdoor entertainment area & pool, ocean breezes & sunset views. Fully gated estate. Smooth finish stucco exterior, electronic entrance & honed limestone lead to rotunda entry w/curved etched glass door. Grand foyer shows crystal chandelier & sweeping staircase w/crystal sconces. Pillow edge staggered cut limestone floors grace main level. Formal living room designed by Wanda Bogart has piano alcove. Decorator accents everywhere…hand applied fresco finish walls & ceilings, Doric columns, wainscoting, crown molding & faux touches. Great Room w/black walnut hardwood floors, granite wet/dry serving bar, wall aquarium, billiard area & full entertainment center. Viking Kitchen w/nook has twin sub-zero refrig/freezer, black galaxy granite & double island. Master Suite & w/ocean views, marble bath & steam shower. Theatre Room, Library, Formal Office & more
see additional photos below
PROPERTY FEATURES

– Central A/C – Fireplace – High/Vaulted ceiling
– Walk-in closet – Hardwood floor – Family room
– Living room – Bonus/Rec room – Office/Den
– Dining room – Breakfast nook – Dishwasher
– Refrigerator – Stove/Oven – Microwave
– Granite countertop – Attic – Laundry area – inside
– Balcony, Deck, or Patio – Yard – Swimming pool
– Jacuzzi/Whirlpool – Sauna

COMMUNITY FEATURES

– Garage parking


OTHER SPECIAL FEATURES

– BBQ, Home Theatre, Central Vacuum, Wet Bar, Trash Compactor, 2 Master Bedrooms, Main Floor Bedroom,
– French Doors, Plantation Shutters, Marble Floors, 5 Car Garage, Gated, Porte-Cochere, Fountain,
– Library, Security System, Custom Built
ADDITIONAL PHOTOS


Great Yard to Entertain

Welcome Home

Ocean Views

Home Theatre

Huge Gourmet Kitchen

Family Room
Contact info:
Michael Caruso
Michael Caruso Real Estate Group
1-949-753-7900
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: May 14, 2010, 1:50pm PDT

Central Orange County – Talk of the Town


ORANGE COUNTY ~ CENTRAL

 

COSTA MESA

In order to help fight and raise awareness of child obesity, the city has teamed with the Newport-Mesa Unified School District for “Walk to School Day.” Students are encouraged to walk to school. A healthy breakfast will be served on Oct. 3 at California School; Oct. 8 at Kilybrooke and Sonora schools; and Oct. 10 at Davis School. Information 714-327-7406.

 

FOUNTAIN VALLEY

The Fountain Valley Fire Department will play host to its annual open house from 10 a.m. to 2 p.m. Oct. 11 at Fire Station #11. 17737 Bushard St. There will be tours, displays and activities for children. Information 714-593-4436.

 

HUNTINGTON BEACH

The Shipley Nature Center will play host to its annual harvest festival and native plant sale from 9 a.m. to 2 p.m. Oct. 11 at the center, 17851 Goldenwest St. The festival features guided tours, food, a bluegrass band and activities for children. California native and drought-tolerant plants will be sold and a plant expert will be on hand.

 

IRVINE

TransPOP: Korea Vietnam Remix will play host to a group exhibition beginning Thursday through Nov. 8 at the University Art Gallery, UCI Arts Plaza, Building 712. The exhibition showcases Asian popular culture and its influence on Korean and Vietnamese artists. An opening reception will be held from 6 to 9 p.m. Thursday. Admission is free and open to the public. Information www.ucigallery.com

 

LOS ALAMITOS

Support Our Troops is collecting items to send holiday packages to troops overseas. The group will collect cards, AA batteries, Thanksgiving and Christmas decorations, blankets and hats. Support Our Troops always needs monetary donations, snacks and toiletries. Information fulton@grace-sealbeach.org

 

NEWPORT BEACH

 Nothing to report

 

ORANGE

Donation items such as toothpaste, sunscreen, socks and lip balm are being requested for donations to troops in Iraq and Afghanistan. The Orange Elks Lodge 1475 is currently collecting such donations at their lodge, 211 E. Chapman Avenue. For more information, please contact 714-997-7974.

 

SANTA ANA

The Southwest Community Center will play host to its 24th annual Harvest Banquet on Sunday at the Holiday Inn-Orange County Airport. Tickets are $35. The center provides food, clothing, shelter and other support to homeless and low-income people. Information and reservations 714-547-4073.

 

SEAL BEACH

The Seal Beach Recreation Department is offering swing dance classes starting Oct. 27. The class is open to beginners and those with dance experience. The cost is $65. Classes are held at the Community Center, 151 Marina Ave. Information 562-431-2527 ext. 1344.

 

TUSTIN

A rubber boot race will be held Saturday in Old Town Tustin in an attempt to break a Guinness World Record. Participants must wear rubber boots. A costume contest will also be held. People participating in the race receive a free pancake breakfast at the finish line. Information www.renegaderaceseries.com

 

VILLA PARK

The Villa Park Rotary Club meets from 7 to 9 a.m. every Thursday at city hall, 17855 Santiago Blvd. Information http://www.rotaryvillaparkca.org.

 

For more information visit ocregister.com

North Orange County – Talk of the Town


ORANGE COUNTY ~ NORTH

 

ANAHEIM

Nothing to Report

 

BREA

Consumer Credit Counseling Services presents an overview and will answer questions concerning reverse mortgages at a free workshop from 10 a.m. to noon Oct. 18 at the Brea Family Resource Center, located within the Community Center at 695 E. Madison Way. For more information and to reserve a space 714-990-7150.

 

BUENA PARK

Soroptimist International of Buena Park holds its 33rd annual Silverado Charity Ball, with the theme of Mardi Gras Madness. The ball begins at 6 p.m. Saturday at the Knott’s Resort Hotel. Tickets are $50 and entitle you to an evening of dinner and dancing and the opportunity to vote for the next Miss Buena Park.

 

CYPRESS

Nothing to report

 

FULLERTON

“Rocket Boys, A Memoir” is the focus of the library’s “One Book, One Community” reading campaign. The award-winning book chronicles a boy’s quest to become a rocket scientist. For book discussions – two in English and one each for Spanish and Korean readers – have been planned. For dates and times call 714-738-6380.

 

GARDEN GROVE

Malibu is the destination for the Garden Grove Outdoor Recreation Program for a two-night stay at Leo Carillo State Beach Oct. 3-5. The trip is open to all level of campers. The cost is $30. Information 714-741-5200.

 

LA HABRA

The La Habra Branch Library accepts donations of non-perishable canned and boxed food items, which will be donated to the La Habra Community Resources Care Center. Donations can be made during the library’s operation hours. Information 562-694-2968.

 

LA PALMA

The Fit ‘N’ Fun after school drop-in program starts this week. Students in first through sixth grades can participate in games and fitness activities until 3:45 p.m. three days a week at Miller, Luther and Los Coyotes elementary schools. The program is free. Information 714-690-3364.

 

PLACENTIA

The Consumer Credit Counseling Service of Orange County will hold a free class on raising a money-smart child at 7 p.m. Oct. 7 in the meeting room of the public library, 411 E. Chapman Ave. The speaker is bilingual. Information 714-528-1906.

       

STANTON

Nothing to report

 

WESTMINSTER

Westminster Friends of the Library is looking for volunteers to support its activities. The group runs a used bookstore at the library. The library is located at 8180 13th St. Information 714-893-5057.  

 

YORBA LINDA

Attention all future college students! The College Funding Strategies office of Ontario will be holding a community workshop October 7th at 7pm. The workshop will be held at Black Gold Golf Club, located at 1 Black Gold Drive. The workshop will teach the parents of 10th through 12th graders how to finance their children’s college education.  For more information, please call 888-445-3156.

 

For more information visit orangecountyregister.com