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Property Price Bump — Blessing or Curse?

by George Bawuah on March 12, 2013

Jonathan Lanser put together a nice article about the blessing and curse that real estate’s rebounding prices have done for the market.

One unfortunate truth is real estate prices are again beginning to reach levels that are unattainable for many income earners in the Southland. This is the element that Lanser considers a curse. It becomes a challenge for people to purchase homes in the area, then this essentially drives away some of the variety that inevitably goes on to provide our culture richness and provide the area wide variety of income earners to drive different levels of the economy.

Of course the blessing he touches on has everything to do with the fact that pricing levels are finally recovering their former levels, levels which will allow people to get out from under being underwater.

Which Is Better?

Would be better to have lower prices or higher prices? This is a difficult question to answer because the fact is the market dictates its own price levels. Some areas of the country are simply more expensive than others. Manhattan is never going to be an affordable area, at least in our lifetime. The same can probably be said for much of orange county. The question is, what sort of society do we develop collectively when we put together a collection of lives with an understanding that housing is not available for all income earners within the greater county.

The Development and Growth of the Condominium

Chances are, if prices hold and continue to approach those highs from five years ago, we will likely see the development of condominiums replacing homes for many members of our community. This will likely continue to tax infrastructure, and it is possible that we will need to reshape the community with more pedestrian like areas in order to accommodate those who live in condominiums.

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There is a collection of homes in Peninsula Point that are considered to be some of the most luxurious homes in all of Orange County. This particular stretch of homes generally go for in the area of eight figures, and a recent listing has hit the market at just under $10 million. This price point would include an annual property tax of over $100,000.

Of course many of us simply look at these homes and realize that the luxuries far beyond our means; however, it is fun to take a look now and again and see what the 1% actually live like.

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As Pricing Levels Recover, Do Investors Continue to Linger?

March 10, 2013

We have seen sustained pricing level recovery in the housing market over the last year and a half. Prices continued to pump higher and higher in many communities, and we are beginning to near some of those mean pricing levels during the boom. We have not recovered peak prices during the boom, but we have [...]

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Employment Begins to Shape Housing Recovery

March 9, 2013

We have seen, the last handful of months, a response in the housing market. This response is due to two basic elements: A response by the Fed to keep interest rates low A job market that continues to show signs of life Let’s talk about the job market Our job market continues to add jobs [...]

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Ethical Challenges in the Real Estate Profession

March 8, 2013

The program put together by 20/20 this evening is supposed to highlight some of the darker elements that plague the real estate profession. For those of you unfamiliar with real estate, the profession is one that is fairly easy to enter. Many people from all walks of life give real estate a shot because the [...]

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Real Estate Investing Changes the Marketplace

February 28, 2013

Over the last 6 to 12 months we have seen a huge buildup in the way of investment appetite, and it truly is beginning to reshape the real estate marketplace, particularly for those first-time home buyers looking to get into any sort of home in Orange County or the Inland Empire. The challenges are plenty [...]

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University-based Building Projects Continue Across Nation

February 27, 2013

Over the last week we have seen a couple of the major real estate development firms decide to take on university-based building projects in order to continue housing development and break new ground. These projects are located at two of the more prestigious universities in our nation: the University of Texas at Austin; as well [...]

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A fascinating storyline out of Inland Empire

February 18, 2013

The Los Angeles Times ran a piece on the housing market in the Inland Empire over the weekend, and this article has been met with quite a response from those of us who work in real estate marketplace. Here is the opening line from the article. “Bill Sepe has gotten used to rejection. The 28-year-old [...]

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Orange County Is No Manhattan When it Comes to Housing Prices

February 11, 2013

Although Southern California remains one of the more expensive areas in which to raise a family, we can thankfully say that we are nowhere near the top of the country when it comes to the most expensive places to live. Thankfully we have many neighborhoods in many cities within our fantastic County to provide us [...]

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Real Estate Rises 5.5% nationally

January 30, 2013

Real estate housing figures came in and showed a 5.5% rise in prices over the last month. These figures continued to suggest that the bottom is forming, and that real estate prices ought to be able to hold their value as we try to reclaim high levels that were reached some time ago. Of course [...]

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