Summer is just around the corner and the real estate continues to be hot in South Orange County. With property values rising (or remaining stable at worst), we believe the trend will continue through the summer, with interest rates hovering around record lows. With many buyers still paying cash for quicker closes, many of the homes for sale along the coastline including San Clemente, Dana Point, Newport Coast, Newport Beach, Laguna Beach and Huntington Beach are staying on the market for lesser periods of days on market – especially those under $1mm. Another trend we see is listing agents not allowing any showings until they hold an open house over the weekend – this is across the Orange County housing market.
BanCorp Properties serves in 18 major South Orange County cities, and has been working in the capacity of a licensed Real Estate Broker since 1995. Condos continue to be hot commodity, especially along the inland region of the county (Mission Viejo, Lake Forest, Laguna Hills, Irvine and Aliso Viejo). Single-level single-family residences also are in high-demand and are also hard to locate. For now the trend in real estate prices is up, and we don’t see any indicators that change this trend in the near-future. We also like to remind buyers that are paying cash for home to still get an appraisal on the property.