Mission Viejo Real Estate Market

Mission Viejo Real Estate Market

What’s going on in the Real Estate Market?
Forward looking market indicators suggest we may be seeing a strong spring home-buying season. Data on pending home sales from the California Association of Realtors shows a 23 percent increase in activity between December and January. Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. The majority of pending home sales usually become closed sales transactions one to two months later.

I hear the market is getting better, is this true?
Yes, there has been a significant pent-up demand for homes. Following the recession, household formation in California fell dramatically. The latest estimate shows that some 575,000 fewer households were formed in California between 2008 and 2012 due to economic hardship.

If the household formation trends continued at the pace seen before the recession, California would have not only that many new households, but 60 percent of those households would be homeowners. That means we are missing about 345,000 new homeowners in California. With improving economic conditions and solid employment growth across the state, pend-up demand for homes is evident in the pending sales index for January that California Association of Realtors recently released.

There are obstacles, however, that potential buyers may be facing. For one, Inventory of homes listed for sale is still at historical lows. Despite an increase in inventory in January by 12.1 percent from December of 2013 and by 6.7 percent from a year ago, the supply of homes in the lower price segment of the market continues to fall, while the inventory of homes priced at million dollars and higher went up.

The low inventory environment, however, may be good news for sellers. Potential sellers who have been contemplating of putting their home up for sale may want to take advantage of the low inventory of homes available for sale and list their homes sooner rather than later.

 

Buying or Selling a Mission Viejo home?

As a experienced Mission Viejo Realtor, Calvin Mackey assist you in every step of the process. I negotiate all of the terms on your behalf  and ensure that all of your expectations are met. For more detailed information about buying or selling your home contact Calvin Mackey.

When should you sell your Mission Viejo home?

When should you sell your Mission Viejo home?

sale pending

What is the best time to list my home for sale in Mission Viejo?  In the summer? Spring time? Listing during the holidays is NOT good right? This is a question that I get on a regular basis as a Realtor in Mission Viejo. While there is an “ideal” time of the year to list your home based upon historical data, a lot has to do with your particular situation.

Savvy homeowners spend a lot of time trying to strategize on how to get the most money for their home once they put it up for sale. They consider things such as what the competition is doing, how the job market is at the current time, what mortgage rates are along with their agents ability to sell homes of similar style, size and features.  Along with this sellers also try and “time” their home hitting the market at just the right “time”. While there is a season for everything there’s one things that you have to keep in mind, homes in Orange County sell year round. With that being said, market data does show us that there are specific seasons where the activity of searching for homes increases.

During the holidays, home buyers have proven that shopping for a home and shopping for Christmas presents or holiday meals are completely different. The majority of buyers would rather stay at home visiting with friends and family than hit the streets continuing to hunt for that dream home. Market data shows that December is notorious for being the slowest month for home search volume online followed up closely by November.

While the end of the year might not be the ideal time for sellers to list their home for sale the beginning of the year may be. Buying a home tends to be among some of the more popular new years resolution for those looking to take control of their financial destiny. Things such as job relocation, marriage along with other activities sometimes get put off until the beginning of the year resulting in some seeking out that new home they’ll need to begin their new lifestyle.  Fortunately for sellers, more buyers and more motivation means more demand and – all other things being equal – can translate into a faster sale at a higher price than at other times of the year.

Common First Time Homebuyer Pitfalls

Common First Time Homebuyer Pitfalls

Check out some of the common mistakes that first time home buyers make or overlook along with some tips for avoiding those costly headaches. The most common is #2: not knowing how much they can afford. Consider it a huge RED flag if an agent is willing to show you homes before you spoken with a lender about being pre-approved for a home loan. This is the first and most critical step in the process, don’t get caught putting the cart before the horse. See some of the other pitfalls below….

first-time-homebuyer-pitfalls

Thinking about buying an Orange County home?

As a experienced South Orange County  Realtor, Calvin Mackey assist you in every step of the process. I negotiate all of the terms on your behalf  and ensure that all of your expectations are met. For more detailed information about buying your next home contact Calvin Mackey.

Why you need a Realtor?

Why you need a Realtor?

So why do you need a Realtor when you can either search for properties online yourself or check your homes value on sites like Zillow? I get this question often and use to get offended by it, not anymore. The reality is that technology in the real estate industry has advanced rapidly, leading consumers to believe that they can perform the job duties of a licensed Realtor. But little do they know that a whole lot more goes into it than just looking up properties online. The medical field has advanced and offered sites like webMD but if  I seriously thought something was wrong that would be the last place I would go to for solid, up to date advice. Save yourself the time and liability! Calvin Mackey with Trademark Realty has an in depth understanding of the Orange County Real Estate market with over 10 years in the real estate business. Check out some additional reasons below why working with a Realtor is always in your best interest.

Calvin Mackey Mission Viejo Realtor

 

 

Thinking about Selling your Orange County home?

As a experienced Mission Viejo Realtor, Calvin Mackey assist you in every step of the process. I negotiate all of the terms on your behalf  and ensure that all of your expectations are met. For more detailed information about selling your home contact Calvin Mackey.

Mission Viejo Home Sold by Calvin Mackey | Realtor

Mission Viejo Home Sold by Calvin Mackey | Realtor

On behalf of the seller, Calvin Mackey has sold 26141 Arcada, Mission Viejo, Orange County, California. MLS# OC13232552. This home sold in just 24 days on the market!

This is a home located on a cul-de-sac with minimal traffic and a great family like atmosphere. This one story, nice open floor plan offers all of the bedrooms to the left with a living room, family room and small eat in kitchen area. High ceilings in the living make the space feel open and spacious. The newer sliding glass door welcomes you to the spacious, large grass area in the backyard perfect for entertaining or eventually building a pool. The home comes with Lake Mission Viejo privileges and is conveniently located close to the 5 freeway. This home was jewel and had the best that Mission Viejo had to offer!

 

Buying or Selling a Mission Viejo home?

As a experienced Mission Viejo Realtor, Calvin Mackey assist you in every step of the process. I negotiate all of the terms on your behalf  and ensure that all of your expectations are met. For more detailed information about buying or selling your home contact Calvin Mackey.

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