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Old 08-09-2012, 02:09 PM
 
35 posts, read 102,507 times
Reputation: 28

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I've been tracking housing prices in Aliso Viejo and Laguna Niguel for several years now. I am just amazed at how quickly prices of lower end housing (single family homes in the $300K - 500K) have gone up in a relatively short time.

Most of my tracking has been done via Zillow, as I believe that to be a fairly reliable source. Has anyone else experienced this same phenomenon? If my findings are correct, this area of the country is definitely resurrecting from the great real estate slump.

Now, in case anyone is wondering, the reason why I've been so researching this area is due to my interest in moving there sometime in the next 3-7 years. If prices continue rising at such fast clip, affordability will prevent me from making such move.

If anyone cares to share their opinions on my findings, please do so.

~ Sammy
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Old 08-09-2012, 07:56 PM
 
Location: RSM
5,113 posts, read 19,766,781 times
Reputation: 1927
The low end housing everywhere is being bought by cash investors, not people, in my experience. I've looked at houses in Temecula and parts of OC at the low end and if the property is any good it's got a full cash offer on the table.
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Old 08-09-2012, 08:01 PM
 
Location: East Bay, San Francisco Bay Area
23,543 posts, read 24,041,250 times
Reputation: 23967
We are seeing a similar phenomenon here in some neighborhoods in the Bay Area. Hard to tell right now if it's a long term trend statewide.
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Old 08-10-2012, 05:40 AM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,257,288 times
Reputation: 6920
There are a lot people sitting on a lot of cash yielding low returns elsewhere. They may as well put that money into something with pretty good future prospects.

Prices will also increase as more borrrowers find it easier to obtain financing at attractive rates. Homes were underpriced and are now returning to normal levels relative to the incomes of homebuyers. This should be followed by increases in new home construction and a healthy economy. Nothing wrong with that.
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Old 08-16-2012, 05:31 PM
 
619 posts, read 2,168,443 times
Reputation: 261
Quote:
Originally Posted by sammy1224 View Post
I've been tracking housing prices in Aliso Viejo and Laguna Niguel for several years now. I am just amazed at how quickly prices of lower end housing (single family homes in the $300K - 500K) have gone up in a relatively short time.

Most of my tracking has been done via Zillow, as I believe that to be a fairly reliable source. Has anyone else experienced this same phenomenon? If my findings are correct, this area of the country is definitely resurrecting from the great real estate slump.

Now, in case anyone is wondering, the reason why I've been so researching this area is due to my interest in moving there sometime in the next 3-7 years. If prices continue rising at such fast clip, affordability will prevent me from making such move.

If anyone cares to share their opinions on my findings, please do so.

~ Sammy
Prices WILL go up close to about 2006 levels in 7 years. The trend is showing that already. Too bad you cannot buy now. OC is a very desirable place to live no mater what the economy does. Always enough ppl affording these way above the national average prices. Supply small and high demand.
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Old 08-16-2012, 05:37 PM
 
Location: Deep Inside Goldman Sachs' Sphincter
240 posts, read 621,912 times
Reputation: 251
Quote:
Originally Posted by sammy1224 View Post
I am just amazed at how quickly prices of lower end housing (single family homes in the $300K - 500K) have gone up in a relatively short time.
I'm simply amazed that you're amazed. Clearly, despite all your efforts to track the market & stay informed, you've failed to correctly gauge the massive real estate market MANIPULATION that is currently underway. I really don't have the time to enlighten the slower students anymore ..here ...get yourself a healthy heapin' helpin' of REALITY:

Future house prices, "It's up to the banks, stupid." » OC Housing News
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Old 08-16-2012, 06:27 PM
 
82 posts, read 165,828 times
Reputation: 47
Yup, the market is getting manipulated but I really see prices just staying flat (at least in the low end) because of that fact. Banks don't make a lot of money by being stupid. It's like tails they win, heads they win.
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Old 08-16-2012, 06:30 PM
 
11,715 posts, read 40,455,391 times
Reputation: 7586
Quote:
Originally Posted by Lallo View Post
Yup, the market is getting manipulated but I really see prices just staying flat (at least in the low end) because of that fact. Banks don't make a lot of money by being stupid. It's like tails they win, heads they win.
It worked well enough from 2000 to 2006.
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Old 12-05-2012, 07:40 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,771,454 times
Reputation: 17831
Home prices show biggest jump in 6 years in October - latimes.com

O.C. home median price jumps 9.7% | orange, price, median - The Orange County Register
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Old 12-05-2012, 11:25 AM
 
Location: Whittier, CA
494 posts, read 1,917,460 times
Reputation: 459
Quote:
Originally Posted by sammy1224 View Post
I've been tracking housing prices in Aliso Viejo and Laguna Niguel for several years now. I am just amazed at how quickly prices of lower end housing (single family homes in the $300K - 500K) have gone up in a relatively short time.

Most of my tracking has been done via Zillow, as I believe that to be a fairly reliable source. Has anyone else experienced this same phenomenon? If my findings are correct, this area of the country is definitely resurrecting from the great real estate slump.

Now, in case anyone is wondering, the reason why I've been so researching this area is due to my interest in moving there sometime in the next 3-7 years. If prices continue rising at such fast clip, affordability will prevent me from making such move.

If anyone cares to share their opinions on my findings, please do so.

~ Sammy
Speculation and mania due to low interest rates and inventory causing a bubble and we all know how those end. They say people have short memories when it comes to greed and history repeats itself and we are seeing the proof of that right now. Just like the last time our government is aiding and abetting this hugely irresponsible behavior and of course the real estate professionals are having a field day with it chanting that the market is going to infinity just like they did in the previous boom.
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