Up to Date Real Estate News from the Experts in Urban Living, April 2013

Up to Date Real Estate News from the Experts in Urban Living April, 2013

Homes Selling at Record Pace

Source: Redfin

More than one-third of homes were taken off the market in two weeks or less last month, Redfin revealed in its most recent monthly housing report. On average, 34 percent of homes were under contract within 14 days of their debut in February, an increase from 30.3 percent in January, the online real estate broker reported. In addition, a handful of metros, especially in California, saw an even greater share of homes get taken off the market within two weeks.

In San Jose, 63.1 percent listings were sold within two weeks, the most out of the 19 metros the report covers.

Other California metros with a much higher percentage were San Francisco (56.8 percent), Ventura (52.6 percent), Los Angeles (51.3 percent), Inland Empire (49.8 percent) and Orange County (38.7 percent).

Redfin also reported a continued year-over-year decrease in inventory, which has fallen 32 percent from February 2012. Though, inventory did inch up 1.1 percent from January 2013. As inventory stayed low, home prices ended last month with a 13.2 percent year-over-year increase and 2.4 percent month-over-month gain. Sales, constrained by a lack of inventory, were up just 2.3 percent from a year ago and 0.7 percent from last month, Redfin reported. Redfin’s analysis is based on local databases used directly by real estate agents to list properties and record sales.


8059 scholarship Just Sold $950,000

8059 Scholarship, The Sousse Group, Luxury Irvine Condos

Views of twinkling city lights, mountains, Fashion Island, golf course and nature habitat preserve that bring the outside in from this ‘big sky’ wrap-a-round terrace. This 2 bedroom plus foyer/gallery, 2.5 bath corner unit on the 5th floor offers gorgeous travertine floors that guide you through the luxury of light cherry wood kitchen cabinetry, granite counter tops, floor to ceiling windows with upgraded window shades, custom paint, custom light fixtures, crown molding, three Plasma TV’s and fireplace with custom built-in entertainment in living room. Experience extraordinary amenities and recreational oasis on nearly one acre of land…The Plaza-Irvine.


Financial Update by Maurice

Interest rates are holding pretty steady this week. No real changes in interest rates.

Remember, starting on Monday, the new MI costs go into effect for FHA and on Jumbo FHA loans, 5% is now the minimum down payment.

Our quote this week comes from Emmet Fox who said “You must not allow yourself to dwell for a single moment on any kind of negative thought”. How true that is.


Based in Orange County, California, The Soussé Group is ranked number one in total sales in Irvine, California, 92612. Topped $140 million in sales in 2012, 2011, 2010, 2009, 2008, 2007 alone with 438 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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