Real Estate Information Archive

According to research conducted by Steve Thomas at Reports On Housing, the active inventory for Orange County homes is falling dramatically for both standard sales and distressed properties.

Typically, homes come on the market faster than they go into escrow; thus, the active inventory increases, but that hasn’t been the case in 2012. The current active listing inventory shed 226 homes in the past two weeks and now totals 7,597, which is 3,081 fewer than last year. The media hasn’t quite caught up to reporting on all of the activity; so, for the most part, homeowners have been shielded from the fact that the market is extremely hot.

The decrease in the availability of distressed homes is a particularly big surprise to many homebuyers who have been reading for months about foreclosure properties and short sales, but as Thomas points out, “The distressed inventory continues to drop like a rock.”

With less inventory and increased demand, the expected market time for Orange County has dropped to a mere 2.1 months. That is the lowest level in 78 months, back in August 2005. This is completely unprecedented for this time of year.

So far in 2012, Orange County’s active distressed inventory, both short sales and foreclosures, has dropped by 644 homes, or 20%, in just six weeks. Currently, distressed inventory represents 33% of the active inventory, and foreclosures are the hottest segment of the current market.

Just about every buyer wants to purchase a foreclosure, yet there are only 489 in all of Orange County, just 6% of the total inventory. In the past two weeks, the foreclosure inventory dropped by 57 homes and now totals 489, the lowest level since May 2010. With so few homes on the market, short sales are being swept up almost as fast as they hit the market.

The Los Angeles Angels of Anaheim were widely considered to be one of most successful baseball teams in the first decade of the 21^st century. World Series champions in 2002, and winner of the American League Western Division in 2007, 2008, and 2009, the Angels have drawn more than three million fans to their regular season games for the past nine years.

Though the Angels won less than 90 games and missed the playoffs last year, many expect this season to be the one where they once again take it all the way to the 2012 World Series – thanks in part to three-time National League MVP Albert Pujols and left-handed pitcher C.J. Wilson, both of whom Angels owner Arte Moreno signed in 2011. Other new additions to the team include LaTroy Hawkins and Chris Iannetta.

The team’s newly released lineup features Erick Aybar at shortstop, Howie Kendrick on second base, Albert Pujols on first, Toril Hunter in right field, Vernon Wells in left field, Alberto Callaspo on third, Chris Iannetta as catcher, Peter Bourjos in center field, and Hank Conger as designated hitter. But, with the amount of talent the Angels have this season, it’s likely that the lineup will change at least a little throughout the regular season.

All told, since last year, the Angels have added one of the best players in the game (some would argue the best player), as well as the best free-starting pitcher in the game, a solid reliever, and a great catcher. The Angels also have a “secret weapon” that’s really no secret at all: Angels manager Mike Scioscia. Winner of two Manager of the Year awards, Scioscia has led the Angels to a World Series win once before and into the postseason six times. Under Scioscia’s management and with a seriously talented roster, the 2012 Los Angeles Angels of Anaheim season is sure to be an exciting one!

Opening Day matchup is April 6, against the Kansas City Royals. Spring Training tickets and regular season tickets are on sale now. Visit http://losangeles.angels.mlb.com/ticketing/index.jsp?c_id=ana to get yours.

 We don’t toot our horn about many homes we have for sale but 5575 Camino Famosa is an exceptional home in Yorba Linda CA 92887. Beautiful Lomas De Yorba Estates home has never been on the market before. This Las Brisas model with a great floor plan is absolutely turnkey perfect!  The original owners have dressed this home to the tees! There is nothing for you to do but move in. The remodeled kitchen: maple cabinets with crown molding, under cabinet lighting, and Cesar-style stone counters. The island cook top has a removable wood cover for extra work space. And there is still room for a kitchen table. The family room is adjacent to kitchen, is carpeted and has a fireplace. The bar has a wine cooler.  Inside laundry room has cabinet with counter top for folding clothes and upper cabinets for storage. Porcelain tiled floors are in the kitchen, hallway, & laundry.  Seller has replaced all windows with etched glass and vinyl frames 34 windows in total. The water heater has been replaced by a Noritz tank less water to help lower utility cost. The large master suite has a sitting area. The remodeled master bath has maple cabinets, granite counters, travertine stone floors, mirrored walk-in closet, and porcelain tile around tub and separate shower.  The upstairs hall bath has been remodeled with new vanity, granite counter and porcelain tile floor and tub surround.  Backyard is the perfect retreat or a great place to throw a party.  There is a built in BBQ, large covered patio, fruit trees & koi pond.  There is plenty of room to store your motor home on the side of the house behind the fence. The approximate area behind the fence is 40 feet long and 11 feet wide. No HOA dues or Mello Roos! The home is located in the Lomas De Yorba housing tract in a well established neighborhood off La Palma between Gypsum Canyon and Weir Canyon.  Yorba Regional Park is just down the street where there is always some on picnicking, watching a ball game, or riding down the bike trail.

Four days of wine pairings, cooking demonstrations, special restaurant offers, and tasty culinary delights start March 8 in Laguna Beach. The event kicks off on Thursday evening with a diverse mix of winemaker and chef’s dinners hosted at various restaurants around town. Enjoy gourmet two-to-six course prix fixe dinner menus with or without wine pairings from $30 to $125 per person. Half-off discounts and special pricing for couples are also available.

To learn the details, visit here.

On Friday from 5 p.m. to 10 p.m., head over to the historic Hotel La Casa del Camino to experience Chef Craig Connole’s award-winning Mediterranean-inspired cuisine. Ten distinct creations will be showcased in three amazing locations: overlooking the ocean at The Rooftop Lounge, in the middle of a romantic Spanish courtyard, and to the beat of great music in the Lobby Lounge. Live music, cocktails, and a wine bar will also be available. Prefer to try something else? Restaurant specials, like the complete French dinner for two for $59.95 offered by Cést La Vie, continue throughout the weekend.

Don’t miss the signature event on Saturday, March 10: Laguna Beach Uncorked! – An International Wine & Food Fest. The event runs from 1 p.m. to 4 p.m. and features tastings from 25 Laguna Beach restaurants and 25 wineries from around the world, as well as chef demos, live music, seminars, and more. General admission is $75 in advance and $95 at the door. There are also 150 VIP tickets available. Tickets are on sale now -- simply click here. Proceeds benefit the CHOC Children’s Hospital. 

Saturday evening check out another of Laguna Beach’s great restaurants or grab a spot at the Sunset & Savor event at Surf & Sand Resort’s Pool Deck. Limited to 100 guests, the event features a selection of specialty cocktails, sweet treats, select beers, Chateau Ste Michelle wines, and – of course – great food. Sunset & Savor starts at 6 p.m. Tickets costs $75 each.

Wrap up this ultimate Food and Wine Experience on Sunday with a gospel and champagne brunch at Tivoli Too!, or with a three-hour chef demonstration and cooking class at Nirvana Grille, which will focus on local and seasonal produce. Then, from 2 to 5 p.m., snack, sip, and surf at The Deck at Pacific Edge Hotel. At 6 p.m., it’s time for more champagne -- this time paired with signature garden-inspired hors d’oeuvres. A four-course tasting menu paired with wine from a local California winery follows the champagne reception at Montage.

Click here for tickets.