by Jeff Pittman | Apr 7, 2015 | The Market
What Is A Buyer’s vs Seller’s Market In Real Estate How do you define a buyer’s market vs. a seller’s market in real estate? The simple answer is that when there’s more supply than demand, it’s a buyer’s market and when there’s more demand than supply, it’s a seller’s market. Demand in is commonly judged by months of inventory based on closed sales. Buyer’s Market = 6 or more months of inventory Seller’s Market = Less than 3 months of inventory Neutral Market = 3-6 months of inventory So What Does Months of Inventory Mean? Months of inventory takes into account the number of homes for sale on the market with recently sold homes and reflects the number of months it would take to sell all homes currently on the market. You can calculate months of inventory by dividing the total number of homes for sale over the number of homes sold in one month. When months of inventory are low, it’s a fast paced market dominated by buyers and few sellers. When months of inventory are high, there are generally more homes on the market (dominated by sellers) with fewer buyers or sales. Currently SoCal is a Neutral Market According to Trendgraphix, there are 3.9 months of inventory across Orange, LA, San Bernardino and Riverside counties, qualifying our current SoCal real estate market as neutral. Inventory is making its way up however, up 2.6% from last month and 11.6% compared to last year. Riverside County has the most inventory, leading the pack with 5.3 months. Across all counties there was a spike from the beginning of the year, jumping area...
by Jeff Pittman | Apr 6, 2015 | Buyers
Buying a vacation home can make things easier if you visit an area frequently, and it also can turn out to be a good investment. According to the National Association of Realtors distressed properties made up 45% of vacation home sales last year and vacation home sales surged, making up 21% of all home sales last year, a 57% increase from 2013. A vacation home is a great opportunity to spend time away from the busyness of everyday life, or it can be a great source of income if it is rented. However, there are some things to consider before buying a vacation home. Can you afford it? The number one consideration when buying a vacation home is whether you can afford it. You should be able to pay cash for the home or afford the second payment comfortably without having to cut into retirement savings. You also have to take into account the ongoing expenses for things like upkeep, utilities, taxes and any homeowners association fees. Location – How much will you use it? Buying a vacation home may seem like a good idea, but if you won’t use it often, you may want to consider renting it out at certain times of the year to get your money’s worth. Too often, people want to buy a vacation home in an exotic location far from where they are, and it just isn’t worth the investment. For example, a vacation home in Big Bear is a great option for those who love the outdoors and live in Southern California. Think about what you love doing, and find a vacation home that...
by Jeff Pittman | Apr 4, 2015 | Weekly Quote
“If your ship doesn’t come in, swim out to meet it!” ~ Jonathan Winters
by Jeff Pittman | Apr 1, 2015 | Events
There are tons of local events in Orange County April 2015. Check out our list of Orange County events for April and start clearing your schedule for some fun. Knott’s Boysenberry Festival 2015 Saturday, March 28th – Sunday April 12th Ghost Town in Knott’s Berry Farm Knott’s Boysenberry Festival begun last weekend and will continue till April 12th. The festival features tons of delicious boysenberry inspired foods including ribs, chicken and other charbroiled treats smothered with boysenberry glaze – yum! The festival is held throughout the streets of Ghost Town. There will also be a wine and craft brew tasting garden, live entertainment and farm fresh fun for the whole family. Event website: knotts.com 9th Annual Easter Festival & Food Truck Brunch Saturday, April 4th 9AM-2:30PM at the Orange County Fair Grounds There will be tons of free fun going on at the OC Market Place this weekend for Easter that you don’t want to miss. There will be special breakfast menus at all the Food trucks. Festivities include a Free Treasure Hunt from 10am-2pm through Market Place vendors, free face painting from 9:30am-1pm, Free Springtime Puppet Parade show at 11am and 1pm, free photos with the Easter bunny and more. Event website: ocmarketplace.com First Dunkin’ Donuts in Orange County Grand Opening Wednesday, April 8th 5AM in Laguna Hills The first Dunkin’ Donuts is coming to Orange County this month! Doors open at the Laguna Hills location at 25242 McIntyre Street at 5am on April 8th. The first in line and the first in the drive-thru will win a free cup of coffee every day for a year! Event website: phdcoffeeanddonuts.com We Are...
by Jeff Pittman | Mar 31, 2015 | Events
There are tons of great artisan coffee roasters popping up all over Orange County so there’s no excuse for a sub-par cup of joe. Forget Starbucks, try one of these specialty coffee bars in Orange County instead! Here are 6 specialty coffee bars in Orange County to try so you can start your artisan coffee schooling. Portola Coffee Lab Named the 2015 Roaster of the Year, Portola Coffee Lab is a must visit for any self-respecting coffee lover. The baristas wear lab coats and the big beakers of slow drip coffee complete the science setting. You can order by the cup or by the bag of freshly roasted beans from all around the world. Owner Jeff Duggan and his wife Christa are all about uncompromising quality in their coffee roasting. Their brewing may be slow and inefficient but it’s unbeatable. The Costa Mesa location at the OC Mix also has Theorem, a 6-seat coffee concept bar with seasonal creative creations. The drinks served on these menus vary as much as the baristas do, but have included cocktail-inspired drinks such as a Coffee Sour, an Old Fashioned prepared with slow drip cold-brewed coffee barrel aged in oak for six months, and a cold-brewed coffee sangria, to mention just a few. Source: Flickr Here’s what my sister and I had when she dragged me out of bed one Saturday morning for a taste and a trip to the farmer’s market (iced mocha and latte). Portola Locations: Costa Mesa – OC Mix Santa Ana – 4th Street Market Tustin – Union Market at Tustin District Orange – Provisions Market in Old Towne Orange Gypsy Den Eclectic...
