By Eric Engelbert

In the ever-evolving landscape of homeownership, unforeseen financial challenges can disrupt the path to financial stability. We aim to provide insights into mortgage payments, grace periods, and the potential consequences of falling behind.

Knowing Your Mortgage Payment Timeline

When Is Your Mortgage Due Date?

Your monthly mortgage payments are generally due on the first of each month. To find your specific due date, refer to the promissory note signed during closing or contact your mortgage servicer for assistance.

What Is the Mortgage Grace Period?

The grace period, extending 15 days after your payment due date serves as a safety net for unforeseen events. During this period, late fees are waived, and your credit report remains unaffected.

Late Mortgage Payments: Unraveling the Consequences

Understanding the repercussions of late payments is crucial for taking corrective action.

15 Days Late

After the grace period, a late fee, typically around 5% of the principal and interest payment, is applied. This fee recurs monthly until payments resume.

30 Days Late

Credit bureaus are notified of late payments, impacting your credit score. Communication with your servicer is vital at this stage to explore potential solutions.

45 Days Late

A written notice of delinquency is sent, emphasizing the outstanding amount. Communication with your servicer becomes even more critical.

90 Days Late

Late fees persist, credit reporting continues, and a demand letter is issued, signaling potential foreclosure proceedings.

120 Days Late

Unless alternative arrangements are made, foreclosure proceedings can commence. However, there's still a window of opportunity to salvage your home, depending on your state's regulations.

The Credit Score Dilemma

Late mortgage payments can significantly dent your credit score, impacting your financial standing for up to seven years. Vigilance and proactive measures are key to mitigating these effects. Review your credit history at Free Annual Credit Report

Navigating the Challenges: Your Options

Housing Counseling

The Department of Housing and Urban Development offers free counseling services to discuss foreclosure prevention and explore available options. A list of HUD-approved housing counselors can be found at this link.

Mortgage Forbearance

If financial hardship strikes, forbearance provides a temporary reprieve by allowing you to postpone or reduce mortgage payments. However, repayment is inevitable, including accrued interest.

Loan Modification

Working with your servicer to adjust loan terms can be a proactive step. Modifications may include lower interest rates or extended repayment terms, making monthly payments more manageable.

Selling Your Home Strategically: A Positive Alternative

While the idea of selling your home may initially be perceived as a last resort, it can be a proactive and strategic decision to stay ahead of financial challenges. Mortgage fees and legal costs can accumulate swiftly, and selling your home quickly can bring about several advantages, ensuring a brighter financial outlook.

The Benefits of Selling Your Home Proactively

1. Maximizing Net Profits: By taking the initiative to sell your home before financial challenges escalate, you stand to maximize the net proceeds from the sale. This can be instrumental in securing a financial cushion to navigate future endeavors.
2. Credit Score Preservation: Swiftly selling your home allows you to proactively manage your credit score. A well-timed sale can help you avoid late mortgage payments, preserving your creditworthiness and facilitating smoother transitions in your housing journey.
3. Unlocking Equity: In California, where home values often appreciate, selling your home may unlock substantial equity. This equity can be a valuable resource for future property investments or other financial goals.
4. Easier Qualification for Housing: A maintained credit score enhances your ability to qualify for rental properties or future home purchases. It positions you as a favorable candidate in the eyes of landlords and mortgage lenders, offering flexibility in your housing choices.

Strategic Selling: A Positive Approach

Considering the robust real estate market in California, strategic selling can be a proactive step to safeguard your financial well-being. By acknowledging the potential benefits of selling your home early in the face of financial challenges, you can pave the way for a positive and empowered homeownership journey.

California Mortgage Relief Program

For homeowners in California facing financial hardships, the California Mortgage Relief Program offers critical assistance without the burden of repayment. If you've grappled with missed payments or other financial challenges, explore this government initiative.

Foreclosure Process in California

In California, non-judicial foreclosures allow lenders to force the sale of a home without going to court. However, strict legal steps must be followed before foreclosure can occur.

Your Rights and Where to Get Help

California and federal laws provide protections during foreclosure, including the Homeowner Bill of Rights. This legislation ensures:

• Contact Before Foreclosure: The lender must contact you to discuss foreclosure avoidance before initiating the process.
• Single Point of Contact: A designated person must be provided for communication throughout the foreclosure process.
• Dual Tracking Protection: Foreclosure cannot proceed while your loss mitigation application is pending.

Homeowners have the right to sue if these laws are violated. Federal laws also offer additional safeguards.

Legal Help and Mortgage Assistance

Legal assistance is available for free or at a low cost, including resources like the Housing and Economic Rights Advocates. Additionally, HUD-approved housing counseling agencies can provide information on mortgage assistance options, including potential grants from certain counties.

Nonjudicial Foreclosure Process

Before initiating the foreclosure process, the lender typically sends demand letters. The nonjudicial foreclosure process follows these steps:

1. Foreclosure Avoidance Assessment: The lender contacts you for a foreclosure avoidance assessment, exploring your financial situation and options.
2. Notice of Default: If no resolution is reached within 30 days, the lender can record a Notice of Default, marking the start of the formal foreclosure process.
3. Notice of Sale: After 90 days, if payment is not made, a Notice of Sale is recorded, indicating the intent to auction the property in 21 days.
4. Auction: At least 21 days after the Notice of Sale, the property can be auctioned, with the successful bidder usually being the lender.
5. Post-Foreclosure: The new owner must follow legal procedures to gain possession, a process that typically takes several weeks.

Staying informed and proactive can make a significant difference. Communicate with your mortgage servicer early, explore available options, and, if needed, tap into resources like the California Mortgage Relief Program. Remember, there are paths to navigate these challenges and safeguard your homeownership journey.

Orange County Real Estate, Inc.: Your Trusted Partner in Every Step

Navigating the intricacies of homeownership involves considering various options, and Orange County Real Estate, Inc. is here to guide you through every decision. With extensive experience in lending, private lending, mortgage forbearance, loan modifications, and property sales, our team is well-equipped to discuss and navigate the array of choices available to you.

Whether you're exploring strategic selling, seeking mortgage assistance, or contemplating a loan modification, our experts are committed to understanding your unique situation. We believe in empowering homeowners with knowledge, providing solutions that align with your goals, and ensuring a positive trajectory for your journey.

At Orange County Real Estate, Inc., we don't just offer real estate services; we provide a partnership dedicated to your financial well-being. Contact us today to initiate a conversation about your options, and let's work together to find the path that best suits your needs. Your empowered homeownership story begins with us.

By Eric Engelbert

Exploring the Rich Tapestry of Rose Bowl History

The Rose Bowl, a symbolic event in American college football, is poised to unfold its 2023 chapter with an electrifying clash between two football powerhouses – Alabama and Michigan. Let's embark on a journey through the annals of Rose Bowl history, tracing its roots to the inaugural game in 1902.

Rose Bowl Tradition: A Brief Retrospective

The Rose Bowl, hosted in Pasadena, California, stands as a testament to the enduring allure of college football. Originating as the "Tournament East–West football game," the Rose Bowl evolved into an annual New Year's Day spectacle in 1916.Since its inception, the game has been an annual spectacle on New Year's Day, drawing football enthusiasts from across the nation to witness the pinnacle of athletic prowess and sportsmanship.

The Coveted Prize: The Field Scovell Trophy

For the triumphant team in the Rose Bowl, victory isn't just a title; it's the honor of hoisting the Field Scovell Trophy. This coveted prize, named after the Tournament of Roses founder, adds an extra layer of prestige to the celebration, becoming a tangible symbol of the team's triumph on the grand stage.

The Rose Parade: Paving the Way for Festivities

No exploration of the Rose Bowl is complete without paying homage to the Rose Parade. Originating in 1890, this grand procession is a vibrant precursor to the football action. Elaborate floats, majestic marching bands, and equestrian displays transform the streets of Pasadena into a floral fantasy, setting the stage for the gridiron drama that follows.

Pasadena: The Enchanting Host City

New Year's Day in Pasadena: A Festive Affair

Pasadena, with its charming streets and picturesque surroundings, transforms into a hub of excitement on New Year's Day. The city resonates with the energy of football fans and parade enthusiasts, creating an unparalleled atmosphere of joy and camaraderie.

The Rose Bowl Stadium: Hallowed Ground for Football Fervor

The Rose Bowl Stadium, a historic venue in Pasadena, has been witness to countless moments of gridiron glory. Hosting the game since 1923, this iconic stadium provides a fitting backdrop for the intense matchups and memorable plays that define the Rose Bowl experience.

Best Sports Bars in Pasadena to Catch the Action

Cheering on Your Team: Pasadena's Premier Sports Bars For those unable to secure tickets to the Rose Bowl, Pasadena offers a vibrant array of sports bars where fans can revel in the game-day excitement. Here are some top picks for experiencing the thrill of the Rose Bowl in the company of fellow enthusiasts:

1. Lucky Baldwin's Pub: 17 S. Raymond Ave, Pasadena, CA 91103

2. Freddie's 35er Bar: 12 E Colorado Blvd, Pasadena, CA 91105

3. Congregation Brewery: 61 N Raymond Ave, Pasadena, CA 91103

4. Kings Row Gastropub: 20 E Colorado Blvd, Pasadena, CA 91105

5. Der Wolf: 72 N Fair Oaks Ave, Pasadena, CA 91103

6. Dog Haus Biergarten: 93 E. Green St, Pasadena, CA 91105

Other Exciting Bowl Games Around the Nation

Celebrating College Football Across the Country

As the Rose Bowl takes center stage, college football enthusiasts can also revel in the excitement of other bowl games across the nation. Here's a glimpse of some notable matchups and their locations:

December 29, 2023: Cotton Bowl

• Teams: Ohio State vs. University of Missouri
• Location: Dallas, Texas
• Time: 8:00 PM

December 30, 2023: Peach Bowl

• Teams: No. 10 Penn St. vs. No. 11 Ole Miss
• Location: Atlanta, Georgia
• Time: 12:00 PM

December 30, 2023: Music City Bowl

• Teams: Auburn vs. Maryland
• Location: Nashville, Tennessee
• Time: 2:00 PM

December 30, 2023: Orange Bowl

• Teams: No. 5 Florida State vs. No. 6 Georgia
• Location: Miami Gardens, Florida
• Time: 4:00 PM

December 30, 2023: Arizona Bowl

• Teams: Wyoming vs. Toledo
• Location: Tucson, Arizona
• Time: 4:30 PM

January 1, 2024: ReliaQuest Bowl

• Teams: No. 13 LSU vs. Wisconsin
• Location: Tampa, Florida
• Time: 12:00 PM

January 1, 2024: Citrus Bowl

• Teams: No. 17 Iowa vs. No. 21 Tennessee
• Location: Orlando, Florida
• Time: 1:00 PM

January 1, 2024: Fiesta Bowl

• Teams: No. 8 Oregon vs. No. 23 Liberty
• Location: Glendale, Arizona
• Time: 1:00 PM

January 1, 2024: CFP Semifinal at the Sugar Bowl

• Teams: No. 2 Washington vs. No. 3 Texas
• Location: New Orleans, Louisiana
• Time: 8:45 PM

A Feast of Football Extravaganza As we bask in the glory of the Rose Bowl and the myriad other bowl games, let the spirit of competition and camaraderie unite football fans across the nation. Whether you're in Pasadena, Dallas, Atlanta, or any other city hosting these exhilarating matchups, the 2023 college football bowl season promises a feast of gridiron extravaganza.

Here's a complete list of scores from the College Football Playoff since its first season in 2014:

2014 season

• Rose Bowl: No. 2 Oregon 59, No. 3 Florida State 20
• Sugar Bowl: No. 4 Ohio State 42, No. 1 Alabama 35
• CFP National Championship Game: No. 4 Ohio State 42, No. 2 Oregon 20

2015 season

• Orange Bowl: No. 1 Clemson 37, No. 4 Oklahoma 17
• Cotton Bowl: No. 2 Alabama 38, No. 3 Michigan State 0
• CFP National Championship Game: No. 2 Alabama 45, No. 1 Clemson 40

2016 season

• Fiesta Bowl: No. 2 Clemson 31, No. 3 Ohio State 0
• Peach Bowl: No. 1 Alabama 24, No. 4 Washington 7
• CFP National Championship Game: No. 2 Clemson 35, No. 1 Alabama 31

2017 season

• Rose Bowl: No. 3 Georgia 54, No. 2 Oklahoma 48 (2OT)
• Sugar Bowl: No. 4 Alabama 24, No. 1 Clemson 6
• CFP National Championship Game: No. 4 Alabama 26, No. 3 Georgia 23 (OT)

2018 season

• Orange Bowl: No. 1 Alabama 45, No. 4 Oklahoma 34
• Cotton Bowl: No. 2 Clemson 30, No. 3 Notre Dame 3
• CFP National Championship Game: No. 2 Clemson 44, No. 1 Alabama 16

2019 season

• Peach Bowl: No. 1 LSU 63, No. 4 Oklahoma 28
• Fiesta Bowl: No. 3 Clemson 29, No. 2 Ohio State 23
• CFP National Championship Game: No. 1 LSU 42, No. 3 Clemson 25

2020 season

• Rose Bowl: No. 1 Alabama 31, No. 4 Notre Dame 14
• Sugar Bowl: No. 3 Ohio State 49, No. 2 Clemson 28
• CFP National Championship Game: No. 1 Alabama 52, No. 3 Ohio State 24

2021 season

• Cotton Bowl: No. 1 Alabama 27, No. 4 Cincinnati 6
• Orange Bowl: No. 3 Georgia 34, No. 2 Michigan 11
• CFP National Championship Game: No. 3 Georgia 33, No. 1 Alabama 18

2022 season

• Peach Bowl: No. 1 Georgia 42, No. 4 Ohio State 41
• Fiesta Bowl: No. 3 TCU 51, No. 2 Michigan 45
• CFP National Championship Game: No. 1 Georgia 65, No. 3 TCU 7

2023 season

• Rose Bowl: No. 1 Michigan vs. No. 4 Alabama
• Sugar Bowl: No. 2 Washington vs. No. 3 Texas
• CFP National Championship Game: Winner of Rose Bowl vs. winner of Sugar Bowl

Here's a look at some of the upcoming CFP title game locations and dates:

2023 season (Jan. 8, 2024): Houston, Texas

2024 season (Jan. 6, 2025)

2025 season (Jan. 5, 2026)

By Eric Engelbert

Welcome to the enchanting world of Huntington Harbour, where the coastal charm of Huntington Beach converges seamlessly with the captivating beauty of the harbor. At Orange County Real Estate, Inc., we stand as your trusted local agency, armed with extensive knowledge of the Huntington Beach real estate market and a wealth of experience in the unique realm of Huntington Harbour.

Discovering the Allure of Huntington Harbour

When envisioning Huntington Beach, images of iconic beaches, enthusiastic surfers, lively volleyball matches, and sun-seeking beachgoers instantly come to mind. Known as Surf City, this coastal gem has long served as a refuge for those seeking to escape the everyday grind. Yet, you desire to make Huntington Beach your permanent home, basking in the perpetual vacation-like atmosphere that this extraordinary coastal destination has to offer.

Unparalleled Harbor Views Await

As you embark on your journey to find the perfect waterfront residence, allow us to present an exquisite selection of homes for sale in Huntington Harbour. Each property offers breathtaking harbor views, providing you with an opportunity to wake up to the serene beauty of the water every day.

Your Source for Huntington Harbour Real Estate

At Orange County Real Estate, Inc., we recognize the intrinsic value of Huntington Harbour and the unique lifestyle it offers. Our agency is well-versed in the intricacies of this exclusive waterfront enclave, including the nuances of wharfage rights, the importance of sea walls for coastal protection, and the convenience of boat docks for maritime enthusiasts.

Click here to look at our real estate market report to see the recently sold homes in Huntington Harbor.

Navigating the Huntington Harbour Islands

Huntington Harbour is not just a place; it's a collection of islands, each with its own character and charm. Explore the distinctive features of these islands, where the waterfront lifestyle is elevated to new heights:

Trinidad Island

Trinidad Island beckons with its serene ambiance and stunning homes. Discover the tranquility of living on this island, where the ebb and flow of the tide provide a soothing backdrop.

Humboldt Island

Humboldt Island boasts a perfect blend of luxury and coastal living. Explore the available homes for sale, each offering a unique opportunity to experience the epitome of waterfront elegance.

Admiralty Island

Admiralty Island stands as a testament to grandeur, featuring homes that redefine waterfront living. Immerse yourself in the opulence of this exclusive island enclave.

Gilbert Island

Gilbert Island captivates with its waterfront splendor and prestigious residences. Dive into the real estate offerings and envision a life surrounded by the beauty of the harbor.

Davenport Island

Davenport Island, with its picturesque homes, invites you to explore a world where waterfront living seamlessly intertwines with comfort and style. Uncover the possibilities that await on this charming island.

Unlocking the Huntington Harbour Lifestyle

For those with a passion for boating, fishing, and ocean/water sports, Huntington Harbour is a paradise waiting to be explored. As you peruse our curated list of homes for sale, envision a lifestyle where your love for the water is seamlessly integrated into your everyday routine.

Beyond Huntington Harbour: Exploring Newport Beach and Seal Beach

Newport Beach: Where Luxury Meets the Sea

Just a stone's throw away from Huntington Harbour, Newport Beach beckons with its luxurious coastal living. Explore the upscale real estate offerings, world-class dining, and vibrant cultural scene that make Newport Beach a coveted destination for those seeking a refined seaside lifestyle.

Seal Beach: Charming Coastal Living

Venture a bit further North, and you'll discover the quaint charm of Seal Beach. Known for its historic pier, Main Street boutiques, and friendly community, Seal Beach offers a laid-back coastal atmosphere that perfectly complements the allure of Huntington Harbour.

Your Harbor-Front Dream Awaits

Embrace the tranquil allure of Huntington Harbour as you explore the remarkable homes for sale in this idyllic coastal haven. Contact Orange County Real Estate, Inc. today to embark on a journey that will redefine your perception of waterfront living. Let us be your guide as you navigate the waters of Huntington Harbour, ensuring that your dream of a harbor-front residence becomes a reality.

Nestled in the heart of Southern California, with Newport Beach to its west and Los Angeles just a short drive away, Costa Mesa has evolved into a dynamic and family-oriented city that boasts a unique blend of charm, safety, and entertainment. Let's explore the vibrant lifestyle, excellent infrastructure, and real estate opportunities that make Costa Mesa a hidden gem in Southern California.

A City that Cares: Infrastructure and Safety

Costa Mesa stands out for its commitment to quality living. The city invests wisely in infrastructure, ensuring well-maintained roads, efficient waste management, and reliable water services. The result is a community where residents can enjoy the benefits of a smoothly functioning city, allowing them to focus on the more enjoyable aspects of life.

The emphasis on safety is evident through a robust police force and proactive politicians dedicated to prosecuting criminals. This commitment to security contributes significantly to the high quality of life that residents in Costa Mesa enjoy. Families feel safe, and this sense of security extends to the city's schools, making it an ideal place to raise children.

Real Estate Gems: Diverse Neighborhoods to Explore

Costa Mesa boasts a variety of neighborhoods, each with its unique charm and character. If you're looking for a central location, Central Costa Mesa is a hub of activity with a range of housing options. The Eastside offers a blend of residential tranquility and proximity to the vibrant downtown scene.

For those seeking a more laid-back atmosphere, Mesa Verde provides a welcoming community vibe. Meanwhile, South Coast Metro offers a mix of residential and commercial spaces, creating a lively urban atmosphere. If you're inclined towards a coastal lifestyle, Southwest Costa Mesa is your gateway to a relaxed beachside living experience.

Beyond the Beach: Local Gems and Outdoor Escapes

While Costa Mesa may not be a typical tourist hotspot, locals cherish its unique attractions. The city's heartbeat is found in the privately owned coffee shops and restaurants that cater to diverse tastes. Two unconventional shopping centers, The Lab and The Camp, add an artistic and eco-friendly flair to the shopping scene.

Outdoor enthusiasts are spoiled for choice with numerous parks and hiking trails. Fairview Park stands out as a sprawling green space with trails, grassy areas, and even glimpses of the ocean. It's a favorite among residents who appreciate spending time outdoors, whether walking dogs or playing with kids.

A City Alive with Energy: Balancing Work and Play

Costa Mesa's dynamic atmosphere ensures that residents can strike a perfect balance between work and play. The city's proximity to Newport Beach, Laguna Beach, Huntington Beach, and Los Angeles means there's never a shortage of activities. From family-friendly outings to exciting nightlife, Costa Mesa has something for everyone.

Costa Mesa, often overshadowed by its neighboring tourist destinations, is a city that flourishes with a unique identity. Its commitment to infrastructure, safety, and diverse neighborhoods make it an ideal place to call home. Whether you're exploring real estate opportunities or immersing yourself in the local culture, Costa Mesa invites you to experience a lifestyle that seamlessly combines family-friendly living with the excitement of a vibrant city.

By Eric Engelbert

In the fast-paced world of real estate, staying ahead of the competition is crucial for home sellers. One invaluable tool in achieving this edge is leveraging real estate market reports. Let's explore why these reports are essential, where to find reliable data, and how partnering with Orange County Real Estate, Inc. can make all the difference in successfully selling your property.

Why Real Estate Market Reports Matter

Understanding the Competition:

Market reports provide a comprehensive overview of current listings, allowing sellers to assess their competition accurately. Orange County Real Estate, Inc. extracts data directly from the MLS, ensuring up-to-date and reliable information for sellers.

Effective Pricing Strategy:

Pricing your home right is a delicate balance. Market reports act as a barometer, helping sellers gauge the ideal price range for their property. Orange County Real Estate, Inc. assists in determining the optimal price point based on the current market conditions.

Days on Market Analysis:

One of the pivotal elements in selling a home swiftly and profitably lies in understanding the Days on Market (DOM) metric. At Orange County Real Estate, Inc., we recognize the significance of DOM and strive to equip sellers with actionable insights to enhance their selling strategy.

The Days on Market metric represents the duration a property has been listed for sale before receiving an acceptable offer. It's not merely a measure of time; it's a window into the pulse of the market. A shorter DOM often signals high demand while a longer DOM points to low buyer demand, influencing pricing decisions and seller expectations.

Consider two properties in the same hypothetical neighborhood—one house sits on the market for over 90 days, and another one secures an offer within a week. What sets them apart? While pricing is an obvious factor, a thorough market analysis goes beyond the numbers and can point out variables aside from price.

Beyond price, the presentation of a home online and in person is critical. Our experts guide sellers on enhancing curb appeal, staging interiors, and creating compelling listings to captivate potential buyers. Selling your home in Orange County?

The variance in DOM can also be attributed to the comprehensiveness of a home's marketing strategy. Orange County Real Estate, Inc. tailors marketing plans to ensure maximum exposure and efficient distribution, utilizing digital platforms, social media, and traditional channels. By leveraging its network and resources to circulate listings to a broad and relevant audience, we minimize the time a property spends on the market.

By delving into DOM disparities, Orange County Real Estate, Inc. empowers sellers to make informed adjustments beyond price alone. Whether it's enhancing a property's visual appeal, refining marketing strategies, or optimizing distribution channels, we guide sellers in cultivating a compelling and competitive edge.

How Orange County Real Estate, Inc. Can Help

Clear and Logical Price Adjustments:

Transparent communication is key when adjusting prices. Orange County Real Estate, Inc. ensures clear and logical explanations for every adjustment, whether upward or downward.

In-Person Representation at Showings:

Unlike relying solely on buyer's agents, Orange County Real Estate, Inc. personally attends every showing. This ensures potential buyers receive accurate and compelling information about your home.

Comprehensive Market Data:

The company provides comprehensive market reports on its website, offering data on sold homes, properties under contract, and available listings. Tailored reports for specific neighborhoods or city blocks are available upon request.

Proactive Selling Approach:

Orange County Real Estate, Inc. takes a proactive approach to selling, actively participating in the sales process to maximize exposure and increase the likelihood of a quick sale.

In the competitive world of real estate, arming yourself with the right information is key to a successful home sale. Utilizing real estate market reports from Orange County Real Estate, Inc. not only empowers sellers with valuable insights but also ensures a dedicated and knowledgeable partner throughout the selling process. Visit our website here to access market reports for your city, and take the first step towards a seamless and successful home-selling experience.

By Eric Engelbert

Welcome to Orange County - Your Summer Oasis

If you're seeking refuge from the scorching heat of places like Phoenix, Austin, Chicago, or anywhere the temperature regularly sits in triple digits, Orange County is your summer sanctuary. With its mild coastal climate and an array of activities, this Southern California gem has something for everyone. Let's explore the best ways to make the most of your summer days in Orange County.

Disneyland: A World of Wonders

Look no further than Disneyland and California Adventure for a week of non-stop entertainment. From the exhilarating Soarin' Around the World ride to diverse international cuisines, the magic of Disney is boundless. The two parks at Disneyland promise a plethora of rides, shows, and entertainment suitable for all ages.

Coastal Bliss: 42 Miles of Beaches

Orange County boasts 42 miles of picturesque coastline, offering a refreshing escape. Seize the opportunity for shore fishing to catch halibut, sea bass, and corbina. For a more adventurous sea experience, charter a fishing boat or embark on a dolphin and whale-watching journey. With three harbors, Dana Point Harbor, Newport Beach Harbor and Huntington Beach Harbour it's easy to rent a boat or schedule a Three Hour Tour.

The surf culture is vibrant around Orange County and in the summer months, there are weekly amateur surf competitions making it a haven for surf enthusiasts. Plan your vacation around the US Open of Surfing in Huntington Beach and immerse yourself in a week of entertainment on the sand, witnessing the best professional surfers hone their craft. 

Nature's Playground: Hiking and Camping

If you prefer land-based adventures, Orange County has you covered. Explore the campsites at Crystal Cove State Beach for a coastal camping experience. Wake up to the soothing sound of the ocean and venture onto hiking and mountain biking trails. The natural beauty of Orange County is waiting to be discovered.

Culinary Delights: A Foodie's Paradise

Orange County caters to the foodie in you with a diverse culinary scene. Discover locally-owned gems where the locals hang out. A's in Newport Beach offers a delightful steak and wine experience, Third Street Market in Santa Ana provides a variety of lunch options, Holdaak in Fullerton tempts with Korean fried chicken, and Spaghettini in Seal Beach is perfect for Italian cuisine lovers.

Staying In Phoenix? Here are the top 3 things to do in Phoenix during the hot summer months.

Real Estate Dreams: From Vacation to Home

After a week of exploration, it's not uncommon for visitors to start considering a more permanent stay. Orange County's real estate options are as diverse as its attractions, offering homes with ocean views ranging from $70 million to under $1 million (search all oceanview homes priced under $1 million here). Newport Beach, known for luxury living, regularly features oceanfront homes for sale along the peninsula. The famous Wedge at the end of the Peninsula is adjacent to the Balboa Peninsula Point neighborhood, where you can find oceanfront homes. On the other side of the peninsula, bayfront homes with private boat docks await.

Laguna Beach, with its unique geography and small-town feel, makes it a coveted spot for homeowners. The small town attracts nearly 3 million visitors annually. Beyond its beautiful Main Beach and welcoming community, Laguna Beach has hosted events such as the Pageant of the Masters and the Festival of Arts since 1932.

From San Clemente to Seal Beach and La Habra to Rancho Santa Margarita, all four corners of the County have something to offer. If you’re looking to turn your vacation into a final destination, let’s talk about real estate in Orange County and how you might fit in.

By Eric Engelbert

Welcome to the most recent Orange County Real Estate Market Report by Orange County Real Estate, Inc. Our commitment is to furnish you with essential statistical insights directly sourced from the MLS, enabling you to make well-informed decisions in the dynamic real estate landscape of Orange County, California. Whether you're a prospective buyer, seller, or contemplating a relocation within or beyond the state, we're dedicated to providing you with the vital information you need.

In the latest update, the inventory has stabilized, displaying a marginal increase in the US and a slight decrease in Orange County. Anticipating the holiday season, we project a forthcoming decline in inventory across all markets. Traditionally, this time of year prompts sellers facing challenges in selling their homes (not able to sell before the holiday season) to consider withdrawing their properties from the market. In the last 30 days, notably, 329 homes in Orange County have been withdrawn from the market or the seller canceled the listing.

It's intriguing to observe that out of the 2,540 current listings, only 468 exceed the 90-day mark, use this link to search all homes listed for longer than 90 days. These listings, with a median list price of $2,200,000 and an average list price of $5,412,478, predominantly consist of luxury properties, which typically have longer selling timelines.

The days on market for Orange County Real Estate seem to echo a familiar refrain. There hasn't been a substantial shift in the days on market since interest rates hit 6% in 2022.

In the Key Stats graphic, the median closing price of single-family homes in Orange County has shown a consecutive increase for the past two weeks, settling at $1,350,000. Among the 212 closings last week, only 49 were under $1,000,000, with the average closing price standing at $2,066,345. Notably, the closing prices range from $562,000 to $32,000,000.

For a glimpse into a notable transaction, explore the Dana Point mansion that closed at $32,000,000 at this link. Interestingly, the current owner acquired the property in 2020 for $6,038,550 and undertook a substantial remodel.

Stay tuned for further updates as we navigate the ever-evolving Orange County real estate landscape.

By Eric Engelbert

Welcome to Orange County Real Estate, Inc.'s latest market report. Our mission is to provide you with valuable statistical insights directly from the MLS, ensuring you're well-prepared to make informed decisions regarding real estate in Orange County, California. Whether you're a buyer, seller, or considering a relocation within or outside the state, we're here to empower you with the information you need.

Analyzing Recent Trends:

This week, we've observed an uptick in inventory both in Orange County and nationwide. Interestingly, this increase comes at a time when historical trends would typically indicate a decrease in inventory levels. However, if buyers remain diligent and continue to take advantage of the current inventory, we could see a significant drop in available homes. The latest data displayed on our inventory graphic shows consistent numbers for this week, reflecting the recent surge in activity, particularly in terms of new listings and properties sold. This development is worth monitoring as it could significantly influence available inventory as we approach the beginning of 2024.

Our Days on Market graphic still shows low days on market for Orange County. On the ground, we continue to witness buyer competition. Although it's highest among properties priced under $1 million, all price ranges are experiencing low days on market, which is a clear sign of high buyer demand.

The Key Stats graphic reveals an uptick in the Orange County closed price of single-family homes over the last week, up $100,000 to $1,305,000. This increase is attributed to three significant sales: an Emerald Bay house for $25 million, a Corona Del Mar house for $16.5 million, and a Newport Coast house for $11 million. This elevated the 7-day sales volume to $445,815,895. Orange County, like most coastal counties, offers a diverse range of listings, from $70,000,000 luxury estates to $600,000 single-family homes. It's important to note that such high-value sales can occasionally skew week-to-week data. For more accurate trend analysis, we typically examine data over a 60-day period, but our weekly observations allow us to identify noteworthy shifts and trends that may impact the Orange County real estate landscape.

The newest luxury listing is on Lido Isle at 309 Via Lido Soud, which you can view at this link: 309 Via Lido Soud.

The lowest-priced single-family home is in Santa Ana at 704 Fairlawn Street, listed for $599,900. Although the house is modest, the lot size is considerable. You can explore the property and vital statistics at this link: 704 Fairlawn Street.

Real Estate In Orange County

With the backdrop of global uncertainties, including two ongoing wars and the looming threat of a potential world war, it's challenging to focus on the economy and Orange County home prices. Uncertainty has indeed been the theme of this year.

However, despite the negative press about the real estate market, we have observed that homes are currently valued slightly higher than they were at this time last year, both in the country and in Orange County. The persistent demand and lack of inventory continue to shape the market.

Orange County Holiday Real Estate Market

As we approach the holiday season, we anticipate that inventory should decrease, and home buyers may temporarily pause their search. We recommend that if you're a homebuyer, staying diligent and continuing to explore homes during this period could be beneficial. The holiday season typically sees less buyer competition, increasing your likelihood of having offers accepted. Moreover, interest rates are expected to decrease in the spring, which will likely attract more buyers to the market. Currently, there are no indications in the data of a significant influx of new home sellers. This may well be your best opportunity to find your dream home.

Stay tuned for more market insights, and feel free to reach out if you have any questions or need personalized guidance. We're here to assist you on your real estate journey.

By Eric Engelbert

Welcome to Orange County Real Estate, Inc.'s latest market report. Our mission is to provide you with valuable statistical insights directly from the MLS, ensuring you're well-prepared to make informed decisions regarding real estate in Orange County, California. Whether you're a buyer, seller, or considering a relocation within or outside the state, we're here to empower you with the information you need.

Analyzing Recent Trends:

This week, the statistics may elicit a response from housing skeptics and YouTube analysts who have been predicting market shifts. We'll start by taking a closer look at our Key Stats slide, where every arrow appears to be pointing downward, from the median list price to the sold price versus the list price. It may seem like a whirlwind of negativity.

Moving on to our inventory slide, you'll notice a slight uptick in Orange County housing inventory. However, the numbers for properties under contract and pendings have decreased, new listings are down, and the number of sold homes has also seen a decline.

Is this the onset of a housing apocalypse? The answer is a resounding "NO." If these numbers persist as a trend for two consecutive months, we might start to worry. Nevertheless, it's essential to consider that we are currently in the holiday real estate market, historically known as the slowest period for real estate activity so we expect to see slower activity until the early Spring. We monitor these stats every week, and fluctuations like this are not indicative of a trend after just one week. Rest assured, we'll keep a close eye on the data and report any emerging trends.

All-Cash Purchases Debate:

A recurring concern among buyers is losing out to all-cash offers. We've witnessed this with our own clients, so we know it's a genuine issue. The question that arises is whether all-cash purchases have increased. According to the data, the answer is no, and all cash purchases have remained steady prior to, during, and after the pandemic. Check out the slide below for more details. In recent years, 2021 recorded the highest number of all-cash purchases at 5,427, while 2020 marked the lowest at 4,480. In 2023, we're on track to finish below 5,000 total all-cash sales.

Market Stability and Upcoming Listings:

Despite fluctuations, Orange County's real estate market remains stable, underscored by strong buyer demand, as evident in our Days on Market slide. In the coming weeks, we anticipate new listings data to be unchanged and hover between 400-500 per week. One listing we have an eye on includes a Newport Beach oceanfront house constructed in 2019, with an anticipated listing price of $25,500,000. Notably, the highest-priced sale on the peninsula occurred on the bay side, featuring a boat dock. 2112 E Balboa Blvd sold for $27,000,000 and can be explored in this market report: Newport Beach Real Estate Market Report

Additional Market Insights:

From our total inventory, a surprising 815 properties have been listed for 2 weeks or less, underscoring Orange County's high turnover and sales. Additionally, there are 519 homes listed for sale for over 90 days, with 371 of them priced over $1,500,000. For buyers seeking opportunities among these listings, please explore our dedicated webpage for properties listed over 90 days.

We're committed to keeping you informed and providing valuable insights into the dynamic Orange County real estate market. For more in-depth data or personalized assistance with your real estate endeavors, don't hesitate to reach out. We're here to support your journey.

By Eric Engelbert

In the world of real estate sales, one of the age-old debates revolves around the initial listing price of a property. Should you list your home at a lower price to attract multiple offers and the promise of a quick sale, or should you opt for a higher initial price and be prepared for possible price reductions?

This blog will delve into this dilemma and explore the marketing tactics employed by agents when they list a property at a lower price, aiming to sell quickly and for over the asking price. We'll also examine the statistical data that shows the potential drawbacks of this strategy and the importance of considering your situation in making the right decision.

The Multiple Offers Strategy:

Real estate agents often employ a strategy where they list a property with a lower price than what they believe it's worth. This tactic is designed to create a sense of urgency and competition among potential buyers. This strategy is most effective during a seller's market when there is a high amount of buyer competition. Here's how it works:

• Attracting More Interest: A lower initial listing price can generate more interest and inquiries from prospective buyers. It is more likely to capture the attention of budget-conscious homebuyers who perceive the property as a "deal."
• Prompting Multiple Offers: The goal is to receive multiple offers on the property, often within a short period. When multiple buyers express interest, it can create a bidding war, ultimately driving up the price.
• Marketing Success: Real estate agents can leverage this success as a marketing tool to demonstrate their ability to sell homes quickly and for over the asking price. It's an appealing story to tell potential clients and builds their reputation.

The Hidden Costs:

While the multiple offers strategy can be effective in certain situations, it's crucial to consider the potential drawbacks and hidden costs for the seller:

1. Leaving Money on the Table: Statistical data often reveals that homes listed below their market value may indeed sell for over the asking price. However, when you calculate the potential profit, it may still fall short compared to a property listed at or slightly above market value. We collected data in Laguna Niguel during the summer months of 2023. At this time, the market was considered to be a seller's market based on the days on market statistics and the percentage of properties in escrow. It was a seller's market, but due to high-interest rates and high prices, there were considerably fewer buyers than in the summers of 2019-2022. We were not seeing 20 offers on each property; rather, 1-3 offers were the norm. The statistics showed that properties that were listed under market value sold for less than 1% over the asking price, while properties that were listed at market value or slightly higher sold at market prices and for an average of $8,790 more. The fact that there are no "like" properties makes this a difficult analysis. In our research, it was evident that homes priced at or above market value ended up with more money.
2. Risk of Overpricing: Listing your property too high runs the risk of overestimating its value, potentially deterring buyers and resulting in a longer time on the market. Striking the right balance is essential.
3. Time Is Money: Selling quickly is appealing because time can be a critical factor. A speedy sale might not align with the seller's timeline, and the urgency to move can result in selling below the property's true value.

Choosing the Right Strategy:

In real estate, there is no one-size-fits-all strategy. The best approach depends on your circumstances, your goals and market dynamics.

Consult a Professional:

A professional real estate agent can assess your specific situation and discuss various strategies. They will provide insights into your local market, recent sales data, and the demand for your type of property. We regularly analyze real estate data and share our findings on this blog. This data will undoubtedly help you make informed decisions when it comes to selling or buying real estate in Orange County. 

Weigh Your Priorities:

Determine your priorities – is a quick sale more important, or are you willing to invest more time to potentially secure a higher price? Your situation, financial needs, and timeline should guide your decision.

Be Open to Adjustments: Flexibility is key. You can begin with a competitive price to generate interest and adapt your strategy as you assess buyer feedback and monitor market dynamics. We do not suggest that you be locked into a specific price. Price adjustments are an important strategy for achieving the highest possible sale price and the quickest sale.

Conclusion: Real estate sales are a delicate balance between attracting potential buyers and securing the best possible price. While listing at a lower price to promote multiple offers and quick sales is a valid strategy, it's essential to be aware of the potential downsides. Professional real estate agents, like those at Orange County Real Estate, Inc., play a crucial role in guiding sellers through this decision-making process, helping them make informed choices that align with their goals and circumstances. Ultimately, the key to success in real estate lies in understanding your unique situation and employing a strategy that maximizes your profit while meeting your needs.