Is now the time to buy in Orange County? Local Realtors say yes, and here are some reasons why.
"Orange County is a bedroom-business-tourist county famous for its beaches, its weather and its amusements. The northeast side of the county rises into the Santa Ana Mountains, and the southwest side descends to the Pacific Ocean and to about 42 miles of beaches, relates Realtor Fran Bertini . "Is there a bubble? froth? What's a person to believe?"
She adds, "When looking for a home and analyzing sales data, the more specific you are the better. Even within a city, there will be pockets of homes which vary significantly in price."
Realtor Barbara Dorsey says, "Welcome to beautiful Orange County! Here you can find anything and everything, from fine dining, shopping, amusement parks, the breathtaking pacific coastline, lakes, museums, libraries, art galleries, golf courses, country clubs, award winning schools, and so much more."
"Although inventory has not seen much change in the past few months, the Real Estate market in Orange County is still hot and the median price of housing continues to increase slightly. Although turnover in some areas is taking a bit longer, most of Orange County has continued to see the trend of multiple offers on properties available. Supply, demand, price, condition and upgrades continue to dictate the time it takes for a seller to start packing. With interest rates still at record lows, now is a great time to purchase a first home, upleg, downsize or purchase that investment property you've been thinking about!"
"Is this the right time to buy or sell a home in Orange County?" asks Realtor Alex Bahu . "The housing market is still very strong indeed, as prices continue to appreciate & interest rates are still cheap. Buy, buy, buy, and keep buying. Inventory is increasing. We see a sellers market moving towards a buyers market though current property values still at their peak."
She continues, "The average price of a 3 bedroom house in Orange County is $565,000, up 11 percent from January. There is still a great demand for properties. Home prices are predicted to rise during 2005. The median sales price in April, 2005, was $420,000."
