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Up to Date Real Estate News from the Experts in Urban Living May, 2012

Home buying jumps in 42 OC zip codes! See February ending data below…

OC Register, April 02, 2012

  • Taking sales volume in consideration, home-sale pricing is up in ZIPs representing 31% of the Orange County market.
  • 6 of 83 O.C. ZIPs with median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007. Since that pricing pinnacle, there’s been a 40% drop in the countywide median price!
  • Priciest ZIP? Newport Beach 92661 with a $3,383,000 median selling price.
  • Current million-dollar ZIPs were 4% of all sales in the most recent period tracked.
  • Cheapest ZIP? Laguna Woods 92637 with a $157,000 median selling price.
  • There were 3 ZIPs with medians under $250,000 vs. 4 a year ago. ZIPs with medians under a quarter million had 3% of all sales in the most recent period.
  • 42 of 83 O.C. ZIPs had year-over-year sales gains in the period. Overall, countywide sales were up just 0.1% vs. a year ago.
  • 6 of 83 O.C. ZIPs has sales gains of 100% or more in the period at the same time as 4 had sales drops greater than 50%

NOTE! 17 local ZIPs had both sales gains and price gains in the period. These double-gainers had combined sales volume equal to 18% of the Orange County market.

Orange County Sales Volume April 2012 (.pdf)

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Financial Update by Maurice

Interest rates are very flat from last Friday’s report. What was supposed to be an eventful week in the mortgage and financial markets turned out to be boring and flat. Sometimes that can be a very good thing…

We have had some great success this week in closing several 20-30 day purchase transactions from start to finish. As a lender working with mostly all purchase transactions, we recognize the need to meet these time frames and push as hard as possible to make sure we come in right on time.

Take a look at the 5/1 JUMBO arm this week. 3%!!!! This is a great financing option for someone who will be selling soon or paying off the loan within 5 years. This program goes to $5 million in loan amount, so we have you covered on the jumbo market as well.

Ralph Nicholas said The most basic of all human needs is the need to understand and be understood. The best way to understand people is to listen to them.

Based in Orange County, California, The Soussé Group is ranked number one in total sales in Irvine, California, 92612. Topped $120 million in sales in 2011, 2010, 2009, 2008, 2007 alone with 320 completed transactions and have successfully risen to the top 50 along the 25,000 agents in Orange County.
Kerry and Maurice Soussé
Realtor / Broker
The Soussé Group
HÔM Real Estate Group
1200 Newport Center Drive, Suite 100
Newport Beach, CA 92660
Direct Line: (714) 412-9014
Direct Line: (714) 412-8512
Direct Fax : (949) 640-7606
info@thesoussegroup.com

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