Optimism Flanks Headlines For 2010

This is an article that my Dad wrote in December for our January 2010 newsletter.

The newspapers have finally decided to report what we have been experiencing over the past few months in your neighborhood. Since summer's end we have had a tremendous amount of interest in the homes in your area. We have also experienced, on several occasions, property appraisals that came in at less than what the properties actually sold for. In every case the buyers decided to move ahead and close escrow at their agreed upon purchase price. This is a good indication that our market is showing strong signs of recovery. Albeit, with unemployment still at record high levels, I'm not declaring us to be 'out of the woods' quite yet. I will declare, however, good positive signs of improvement.
We found that moving ahead systematically with our sellers proved to be highly successful and profitable. Evaluating, preparing, pricing and marketing each property on it's individual merits proved to be successful for each and every home we sold in 2009. Our sellers obtained top dollar, even thousands more than expected in a few cases. We can help you attain your Real Estate Goals in 2010. Call us today at 714-343-9294 for a free Pre Market Evaluation. You can also email us at micahstovall@gmail.com or steve@stevestovall.com. We promise a positive experience in the preparation and marketing of your home. We are also happy to provide you with references from homeowners we helped in the past year. Let our family help yours in 2010.



Orange County Register Article ~ Dated January 1, 2010
The Orange County housing market is ending the year in style, with the fastest year-over-year appreciation in nearly 4 years.
For the 22 business days ending Dec. 9 “--DataQuick’s latest homebuying report -- Orange County saw . . .
$440,000 median selling price that is +10.0% vs. a year ago. Last time we saw faster appreciation was in March 2006.
Latest median is -32% below June 2007’s peak of $645,000.
The most recent median is 19% above the cyclical low hit in January 2009 at $370,000 -- a current bottom that was -43% below the 2007 peak.
Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)
Single-family homes resell for 31% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 40% below their February ‘05 top.
In this most recent period, O.C. shoppers bought 3,117 residences -- that is +14% vs. year-ago buying activity. (From 1997-2006, monthly sales averaged 4,304 per month.)
November marked 16 out of 17 months with sales gains vs. the year-ago period. That followed 33 consecutive months where sales failed to beat the previous year’s pace.
by Jon Lansner