Another eventful summer week for OC real estate!

It has been another beautiful and eventful summer week! We’ll be carefully watching the effect on the real estate market as coronavirus cases continue to rise and the effects of the reclosure of indoor operations on 7/13. 

As for the market update for halfway through July 2020, you’ll see in the chart below that pending sales continue to move at a record pace. In an interesting twist, new listings are at a 5 year low. If pending sales continue at the current pace, there won’t be enough inventory (and prices could increase). As for interest rates, this week the average 30-year fixed-rate mortgage fell below 3% for the first time ever in the 50 year survey history of Freddie Mac. This could also continue to drive sales (and refis). What a week!

We brought another listing to the market. This home in San Clemente is a perfect candidate for updating or expanding. 106 Avenida San Pablo San Clemente, CA 92672

We’re strong supporters of buyers considering the purchase of a duplex, especially for their first home, and our video this week gives 5 reasons to consider doing that. Please pass the word along to anyone who you think would be a good candidate for 5 Reasons why buyers should buy a duplex for sale now! And here’s the link to search for all Orange County duplexes for sale.

Please send us your burning questions : "How’s the market in ____? Should I buy now? Should I sell now?" As always, we appreciate your friendship and support and please remember that we’re your real estate resource!