Orange County Real Estate Forecast for 2018

I think I can safely say, after reviewing the data and gauging by my own experience, 2018 is shaping up to be pretty much like 2017 in the Orange County Real Estate Market.

There are so few homes currently for sale right now, only about 3,500 active listings, that it seems unlikely that we will reach the historic average of about 8,000 homes for sale any time this year.  Demand is still quite strong due to an improving economy and still-historically low interest rates (but better hurry).  Most likely the inventory will reach a peak of only bout 6,500 homes for sale some time in July.

If you are looking to sell your home and want less competition, the earlier in the year the better.

The strongest demand usually begins in late spring, ending in late summer. That is when one can also expect the greatest price appreciation. I expect prices to appreciate between 4% and 5% for the whole year. Translation: try and purchase ASAP before summer hits.

Buyers will need to be patient and persistent if they want to be successful in making a home purchase in 2018. Sellers can expect to receive multiple offers, especially if their home is priced under $900,000. Contact me if you want more detailed info about what to expect in your specific area and in your specific instance.

Updating Your Home with Wood Flooring

When it comes time to install new flooring in your home, take a good look at investing in wood floors. In the neighborhood where I grew up, the builder installed beautiful honey oak wood flooring throughout most of the homes. This was in the late 1950’s. Those wood floors are still gleaming and beautiful today, doing a great job of keeping a durable and easy-to-clean surface underfoot.

It may make sense to install carpet or tile in certain areas of your home, but in the main living areas, wood floors are hard to beat if you want a long-lasting beautiful floor. They are easier to clean and don’t hold on to pet odors and allergens. Styles do go in and out of fashion, and real wood can be more expensive than laminate or carpet, so do your homework before making a final decision. Fortunately, wood flooring looks great with just about any decor.

They also add value and desirability when you go to sell your home. I was recently previewing a large home that had some odd updates here and there, but the floors upstairs and downstairs were beautiful real wood, even in the bedrooms. That real wood looked very rich and cheapened the odd out-of-place decor. Fortunately, the odd decor can easily and economically be changed, and the wood floors will only enhance the beauty of more appropriate upgrades and decor once the new owner installs them.

Wood flooring, professionally installed, adds timeless beauty to almost any home. Wood floor in the entry and living areas lays a warm and welcoming foundation for you and your friends and guests. They can be easy-care, low-maintenance and long lasting. And when you go to sell your home, wood floors are a desired selling feature.

Save

Let's Work Together