Photograph of hillside climb South Orange County
Southern California Real Estate Market seems ready for the come back this spring. The no inventory of homes for sale is at record lows. In the twenty three years as a lender in Orange County, I have never seen the numbers of new listings in Multiple Listing Service ( MLS ) this few. As the existing houses on the market in the middle range are now selling with multiple offers, the value of those sitting is gradually rising.
It's been a rocky road since the crash of 2008. It seems the uphill battle may now be at the summit. A few challenges still loom out there. There are homes where residents have not made payments for more than a year, and the lenders have not foreclosed. There are homeowners who hung on by renting their home when they had to take a job transfer. There are move up buyers and move down owners who have struggled and stayed in one place.
Will the November elections shake up the real estate market in Orange County in a good way? I don't believe national elections will have any changes on local employment or business, and therefore will not likely have positive or negative results.
Residents of Orange County can look forward to slow growth, and perhaps a little pop up in the spring of 2013. I for one am looking forward to climbing up. :)
Photograph of Giant Salvia. This plant grows to nine feet tall with flower spikes one to two feet long. Does not have the stronger aroma of some sage plants, but very showy, low water and good for a sunny side yard, attracts butterflies and birds.
Caroline Gerardo Barbeau
Mortgage Loan Officer
W. J. Bradley Capital LLC.
Newport Beach, California 92660