Residential Real Estate Projections for South Orange County in 2016

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When you are looking to purchase a new home in the South Orange County area you may want to look at the homes in Laguna Beach, Laguna Hills and Aliso Viejo because the homes in this area are absolutely beautiful.

 

Laguna Beach homes are single family homes that will cost you anywhere from $1,550,000 all the way to $30,000,000 for 2015 however, the market is on the rise and in 2016 the prices will be higher. Each home has a different amount of square footage such as one thousand square foot up to seven thousand square foot. So you will be able to find a home you like and that is big enough for your needs in the Laguna Beach area.

 

Laguna Hill homes are also single family homes that you can purchase either new or from the bank as foreclosure homes. The difference between having a home on the beach and in Laguna Hills area is that they are a lot cheaper here. Even though the homes are cheaper you still get a nice home, with a high amount of square footage. You can find a home here for $859,000 to around $3,285,000 so you will be able to find a home that is in your budget for sure. Just because the homes are of a lesser price does not mean you will be missing out on anything. You still get a nice home and can even get a very nice view.

 

Aliso Viejo also has single family homes however; these homes are more in a reasonable price range. The homes in this area are condos and town homes, and single family homes, for families with a square footage of around 2,000 sqft. I always feel that Aliso Viejo is your best bang for your buck.

 

Each area has a different price range for different sizes of homes. All of these prices are for the 2015 year however, the market is on the rise and the home buying market is going to go up. Meaning you will be paying more for a home next year than you will have this year.

 

There are many reasons why the prices will change next year and one of the major reasons is that the interest rate is going to go up. Right now the interest rate to purchase a home is the lowest it has ever been. Next year, it will be high again. Right now is the best time to purchase that forever home, because credit score requirements are down and the interest rates are low. However, this will not be the case next year. Strike while you can, purchase the home of your dreams now.

 

When you are selling a home, the same thing applies. Next year the home will be worth less but since the interest rates are so high, it will make it hard for people to purchase a home. Now is the best time to sell your home because it is easy for buyers to purchase the home.

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Grant Gerhart

ABR, CRS, e-PRO, GREEN, RSPS, SFR, SRS