Real estate for sale in Yorba Linda looks brighter by one set of statistics.

Every two weeks, Orange County broker Steve Thomas publishes a report on the supply of local homes for sale. Here’s what the latest report — as of July 7 — has to say about Yorba Linda …

Compare these trends to countywide patterns:

  • Cities with highest level of distressed properties among their listings? Anaheim was tops — 60.3% — followed by Rancho Santa Marg. at 58.3% of listings and Santa Ana at 57.8% of listings.
  • Fewest? Corona Del Mar was tops — 3.1% — followed by Seal Beach at 3.7% of listings and Newport Coast at 8.1% of listings.
    • 384 residences listed in brokers’ MLS system with 94 new deals opening in the past 30 days.
    • By Thomas’s math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 4.09 months vs. 4.87 months found two weeks earlier vs. 4.58 months seen a year earlier. Countywide, latest market time was 3.96 months vs. 3.78 months a year ago.
    • So, homes in this community sell — in theory — in 3% more time than the countywide pace.
    • Of the homes listed for sale in this community, 96 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 25.0% of supply of homes for sale vs. 33.1% countywide.
    • Homes for sale in Yorba Linda represent 3.4% of Orange County inventory — and 2.6% of all the distressed homes listed for sale in Orange County. New escrows here are 3.3% of all Orange County’s new pending sales.

     

    Housing Starts up 14.6% in June to 629,000 units

    Tuesday, July 19th, 2011

    Housing starts rose 14.6% in June, according to Commerce Department data, continuing gains of the prior month and coming in well above most analysts’ estimates.

    On a seasonally adjusted basis, starts increased to the highest level since January at 629,000, up from a revised 549,000 for May and nearly 17% higher than 539,000 a year earlier.

    Analysts polled by Econoday were expecting housing startsto come in at 575,000 with a range of estimates between 550,000 and 600,000. Economists surveyed by MarketWatch projected starts to come in at 580,000 for June.

    In a joint release, the Census Bureau and Department of Housing and Urban Development said single-family starts climbed 9.4% in June to a seasonally adjusted rate of 453,000 units, up from a revised 414,000 for May.

    June’s increase comes on the heels of a 3.5% increase in May. Starts dropped 22.5% in February, which was the largest monthly decline since March 1984.

    Building permits in June rose 2.5% to an annual rate of 624,000 from a revised 609,000 for the prior month.

    To search all homes for sale on the MLS please visit www.RajQsar.com/search

    Should Congress Extend Higher Federal Mortgage Limits?

    Will they stay or will they fall?

    The expanded loan limits that Congress boosted for federally backed mortgages three years ago are set to shrink modestly at the end of the summer, but there’s a movement afoot in Congress to delay the decline in the so-called “conforming” limit, citing the shaky housing market.

    On Friday, Reps. John Campbell (R., Calif.) and Gary Ackerman (D., N.Y.) introduced a bill that would defer the loan-limit reduction for another two years. They say that housing markets are too shaky to consider any reduction in loan ceilings that could raise borrowing costs for some homeowners.

    In 2008, Congress raised the maximum loan amount that mortgage giants Fannie Mae and Freddie Mac and federal agencies could guarantee in certain housing markets. Home buyers in dozens of cities faced a credit squeeze when private lenders pulled back from originating loans that exceeded $417,000, the limit for government-backed loans. Congress allowed limits to rise above that mark in certain high cost markets to as high as $729,750. After September, they’ll fall on a sliding scale, topping out at $625,500.

    A spokesman for Rep. Campbell said Friday that the measure has significant bipartisan support. “There’s a wide recognition in the House and hopefully the Senate that we need to do this,” he said. Congress passed a one year extension last fall, and another extension the year before that.

    The Obama administration in February said it supported allowing the limits to fall as scheduled:

    In order to further scale back the enterprises’ share of the mortgage market, the administration recommends that Congress allow the temporary increase in limits that was approved in 2008 to expire as scheduled on October 1, 2011…. We will work with Congress to determine appropriate conforming loan limits in the future, taking into account cost-of-living differences across the country. As a result of these reforms, larger loans for more expensive homes will once again be funded only through the private market.

    But it’s not clear whether the administration would stand in the way of an effort by Congress to keep the limit at its current level for another year. The administration is “paying attention to market conditions” and “looking carefully” at the impact of the decline in the limits, said Housing Secretary Shaun Donovan in a brief interview on Thursday. He said the administration would make a decision “shortly” on any changes.

    Other top officials, including Treasury Secretary Timothy Geithner, have previously said that the limit should decline in order to create more room for private lenders to compete against federal entities. Bob Ryan, now a senior adviser to Mr. Donovan, reiterated that position at a housing conference in New York last month.

    So-called jumbo loans that are too large for federal backing typically carry higher interest rates and bigger down payments, raising concerns that higher borrowing costs could reduce sales and put pressure on prices.

    “There’s a trade-off there between supporting the higher-priced homes and weaning the system off the unusual limits that were put on during the crisis,” said Federal Reserve Chairman Ben Bernanke in response to questions from Rep. Ackerman at a House hearing on Wednesday.

    Source: The Wall Street Journal

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    10 Secrets of Home Staging

    In a tough market, sellers need all the competitive edge they can get. Home staging is a great way to make your home appear to its best advantage.  Staging is about appealing to a broad range of buyers. It’s about creating an image of a lifestyle that buyers can’t resist. They need to be able to imagine themselves living in your house. Staging doesn’t require a big budget either. Although, if you have the budget to make your home a showpiece, go for it! In general, though, successful staging means paying attention to the details.

     

     

    Here are 10 secrets of staging that can help your home sell.

    1. Declutter. Clutter can be one of the most distracting aspects of showing a house. Instead of a buyer focusing on the unique architectural details of your room, they focus in on your trinkets and trash. You don’t have to toss your decor, just put it away for now.

    2. Furniture: Large, oversized furniture can makes rooms look smaller than they are. The converse if true as well. Small furniture in large rooms looks disproportionate.

    3. Room true to purpose: You may have your dining room set up as an office or a second bedroom set up as a craft room, but buyers need to see homes true to their purpose. They want to see the formal dining room that was advertised on the MLS. They want to see 2 bedrooms, not one and a craft room.

    4. Proper lighting: Good lighting makes everything look better. CFL lights in “daylight” color makes rooms look light and bright even during the evening hours. Be sure all rooms are well lit, including laundry rooms, garages, and closets.

    5. Repairs: Most buyers aren’t interested in fixer-uppers. They want homes that have been well-maintained. You may have to spend a little time and money to fix broken doors, drawers, and windows. Buyers will notice every loose board and trim piece. Fix it before you start showings!

    6. Keep it neutral: It is much easier to imagine putting your mark on a neutral room than it is to imagine yourself living in someone else’s Moroccan paradise. Paint is relatively inexpensive. Play it safe and pick out neutral tones.

    7. Fresh flowers: It’s all about things smelling fresh and clean. Flowers add life and fragrance to a room!

    8. Thorough Cleaning: Clean from top to bottom. The basics mean having dishes and laundry done. Deep cleaning means cleaning carpets, removing stains, and scrubbing that bathroom until it sparkles.

    9. Staged Dining Area: You can really make a room pop by setting a formal place setting. Outdoor dining spaces also look great set with placemats, chargers, and proper plates and glasses.

    10. Hotel Inspired Bedrooms. Boutique hotels do a great job of making bedrooms feel luxurious. You can do the same by updating your bedding and having a liberal use of pillows.

    Staging can make your home can make you stand our from your competition. It may mean the difference between selling and not in this tough market.

    Give us a call today and watch our team transform your home in preparation for the MLS and the market!

    www.RajQsar.com

    Published: June 30, 2011