Home Buying Archives | Inspired Realty

April 3, 2025

Dana Point Real Estate Agents: 4 Tips to Create a Home Buying Budget

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So, you want to buy a home in Dana Point. Good decision! However, with the average price for a Dana Point home clocking in at $1.8 million in February 2025, you must create and stick to a homebuying budget before you begin the hunt. The Dana Point real estate agents at Inspired Realty share their top 4 tips for creating a budget for buying a home in the area.

Determine Your Affordability Range

Start the process by calculating your affordability range. This range includes the bottom and top prices you can comfortably afford.

Start with a rough estimate based on three to five times your current annual income before taxes.

Now look at mortgage rates and trends, and estimate what rate you will pay based on your credit score. The higher your score, the lower your rate. Skip this step for an all-cash transaction.

Factor in Upfront Costs

First-time homebuyers often forget things like the cost of an inspection, closing costs, and moving costs.

These costs add up quickly. You may negotiate some costs (like title insurance fees) with the seller, but lender fees, recording fees, and mortgage application fees fall on the buyer.

In California, these upfront costs run about 2% to 5% of the purchase price. Ask your title company for an estimate, and don’t be afraid to negotiate any fees. It never hurts to ask, and some fees may be negotiable.

Consider Upgrade or Renovation Needs

Before you start the hunt, determine your tolerance for a home that requires upgrades or renovation.

A move-in-ready home commands a higher price in most instances.

If you want to create your own dream home, then a kitchen, bathroom, or whole house renovation may be required.

Talk to the Dana Point real estate agents at Inspired Realty. Through their relationship with sister company, Inspired Remodels, they procure upgrade and remodel estimates and services.

Find out the going rate for a complete kitchen and bathroom gut and rebuild, or just reflooring and new appliances.

Either way, know before you shop.

Determine Budget for Ongoing Expense

Unless you make an all-cash deal, plan on monthly expenses like mortgage principal and interest payments. In addition to homeowner’s insurance, you may purchase flood insurance. Dana Point addresses include a mixture of Base Flood Zones VE and X. (Learn more about base zone elevation maps.)

Be sure to include mortgage insurance premiums for some conventional and FHA loans, HOA fees, and property taxes.

It’s always a good idea to include a small amount monthly for emergency repair expenses. When that roof, HVAC, or plumbing emergency arises, you won’t panic or scramble for the money for repairs because you’ll have a repair nest egg.

Dana Point real estate agents on phone looking at Pacific Ocean

Call Dana Point Real Estate Agents for Home Buying Advice Like This Dude Did

Dana Point Real Estate Agents That Make Homebuying Less Stressful

Buying or selling a Dana Point home often brings undue stress into already stressful lives. Avoid surprises when you work with experienced Dana Point real estate agents.

The agents at Inspired Realty offer their expertise and connections to lenders and mortgage brokers to smooth the loan process. Depend on their cadre of inspectors and renovation specialists to assess the potential home and provide estimates of renovations, if necessary.

March 19, 2025

Trust Lake Forest Real Estate Agents – This Is the Place to Live

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Why do people want to live in Lake Forest, California? Easy, it is one of the more desirable cities in Orange County. The Lake Forest real estate agents at Inspired Realty share what makes this city the place to live.

Strong Sense of Community and Safety

Lake Forest is known for its family-friendly environment with a strong sense of community. It consistently ranks as one of the safest cities in Orange County.

Here’s how Lake Forest stacks up against other cities in the area:

City	Total Crime Rate (per 1,000 residents)	Violent Crime Rate	Property Crime Rate
Lake Forest	11.0	1.33	9.84
Irvine	9.0	0.80	8.2
Mission Viejo	10.5	1.2	9.3
Anaheim	31.0	3.4	27.6
Santa Ana	31.9	5.7	26.2
Los Angeles	43.3	8.5	34.8

While property crime is the most common crime in Lake Forest (this is true for most suburban areas), the violent crime rate is exceptionally low.

Top-Rated Schools

Lake Forest students attend Saddleback Valley Unified School District schools. These rank as some of the best-rated schools in the county. A total of 34 elementary, intermediate, high, and alternative schools provides equitable, intentional, and engaging education focused on student success. Lake Forest real estate agents know, school quality plays a large role in home-buying decisions.

In addition, nearby private and charter schools up appeal to families looking for quality education options.

Beautiful Natural Scenery and Outdoor Lifestyle

Don’t look for a natural lake in Lake Forest, you won’t find one. You will find two beautiful man-made lakes that offer boating, fishing, and waterfront living. The Lake Forest Beach and Tennis Club and the Lake Forest II Sun & Sail Club offer water-centric outdoor activities for all ages.

In addition, the city is home to the vast Whiting Ranch Wilderness Park. Visitors to the park enjoy miles of hiking and mountain biking trails with breathtaking scenery. If organized sports appeal to you, check out Lake Forest Sports Park. This 86-acre park devotes 57 acres to sports fields and is one of the largest sports parks in Orange County.

Excellent Location and Commuting Accessibility

Lake Forest’s central location in Orange County offers easy access to I-5, I-405, and SR-241 toll roads. This makes commutes to Irvine, Los Angeles, and San Diego convenient. It is also close to the job centers in Irvine, Laguna Hills, and Mission Viejo.

And when the workday is done, it’s a quick 20 to 30-minute trip to Laguna Beach or Newport Beach if you want a little coastal time.

Real Estate Variety and Affordability

Ask Lake Forest real estate agents about affordability and they will sing the praises of Lake Forest. While most Southern California home prices exceed national standards, Forest offers more affordable options than Newport Beach, Irvine, or Laguna Beach. You’ll find homes priced less than coastal Orange County.

The city offers a mix of the original homes (built in the 1960s and 1970s) and new master-planned communities like Baker Ranch. The city incorporated in 1991 as a result of the numerous homes and communities.

The mix of old and new creates tree-lined streets and a wide range of home sizes and options.

Mild Climate and High Quality of Life

Lake Forest enjoys the typical Mediterranean climate found throughout Southern California. Residents appreciate the mild winters and warm, dry summers. Ample water supplies allow the city to focus on creating and nurturing urban greenery, keeping the city attractive year-round.

The clean and well-maintained streets contribute to that great feeling you get when you live in the city you love. Overall, Lake Forest offers a balance of suburban comfort, outdoor recreation, and city conveniences without the ultra-high price tags of coastal Orange County cities. It’s an ideal location for families, professionals, and retirees looking for a safe, vibrant, and scenic place to live.

Lake Forest Real Estate Agents You Can Trust

Buying or selling a home in Lake Forest requires a trusted advocate. The Lake Forest real estate agents at Inspired Realty help you navigate the waters and close smoothly.

Buying or selling, these are the Lake Forest real estate agents who know the lay of the land. They identify the trusted lenders, insurers, closing agents, appraisers, inspectors, and even home remodelers you need for your transaction.

house for sale by Lake Forest Real Estate Company

March 5, 2025

Lake Forest Real Estate Company for Hassle-Free Sales

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Buying or selling a home in Lake Forest means making a major financial decision. Whether you’re looking for your dream home or trying to maximize the value of your property, working with the right Lake Forest real estate company makes a difference. Inspired Realty, a locally rooted real estate firm, stands out as a premier choice. Their deep community ties, market expertise, and ability to provide general contracting services set them apart from other real estate companies serving Lake Forest.

Local Knowledge Gives You an Edge

Inspired Realty isn’t just another real estate company; it’s a part of the Lake Forest community. The team understands the city’s neighborhoods, schools, and market trends. Unlike out-of-town firms that rely on generic market data, Inspired Realty provides insights based on firsthand experience.

For buyers, this means access to the best properties before they hit the market. Inspired Realty agents know which areas are appreciating, where the best schools are located, and what amenities different neighborhoods offer. They help buyers find the perfect home for their lifestyle and budget.

For sellers, local expertise translates to accurate pricing and effective marketing. Inspired Realty knows how to highlight a home’s best features to attract serious buyers. They leverage professional photography, targeted digital marketing, and strategic open houses to generate interest quickly.

Seamless Lake Forest Real Estate and Contracting Services

Inspired Realty offers one advantage other Lake Forest real estate companies cannot. Through partnership with Inspired Remodels, you get access to both a real estate firm and a general contractor. Many homes in Lake Forest, especially older ones, need updates to meet today’s buyer expectations. Instead of juggling multiple contractors and service providers, sellers rely on Inspired Realty and Inspired Remodels to handle everything from minor repairs to full renovations.

Sellers benefits:

Increased Home Value – Simple upgrades like fresh paint, modernized kitchens, and updated bathrooms significantly boost a home’s appeal and value. Inspired Realty evaluates each home and recommends cost-effective improvements that maximize return on investment.
Faster Sales – Homes that look move-in-ready attract more buyers and sell faster. Inspired Realty’s association with Inspired Remodels offers updates before listing, ensuring homes stand out in a competitive market.
Streamlined Process – Instead of managing separate contractors, inspections, and negotiations, sellers work with a single, trusted team. This reduces stress and eliminates unexpected delays.

For buyers, the ability to work with a general contractor after purchasing a home is just as valuable. Many buyers love homes in Lake Forest but hesitate because of outdated interiors. The Inspired Realty and Inspired Remodels Lake Forest team provides a seamless transition from purchase to renovation, helping homeowners create their ideal living space with minimum hassle.

Negotiation Expertise

Real estate transactions require skilled negotiation. Whether buying or selling, Inspired Realty’s agents work to craft the best possible deal. Their deep understanding of Lake Forest’s real estate market ensures that buyers don’t overpay and that sellers maximize their profits.

For buyers, this means securing homes at the right price, negotiating repairs, and ensuring fair contract terms. Inspired Realty’s team identifies potential issues before they become problems, helping clients avoid costly surprises.

For sellers, strong negotiation skills result in higher offers and smoother transactions. Inspired Realty’s agents know how to position a home to attract competitive bids, reducing the chances of lowball offers or drawn-out negotiations.

A Personalized, Client-Focused Approach

Unlike large, impersonal real estate firms, Inspired Realty prioritizes personalized service. This Lake Forest real estate team takes the time to understand each client’s goals and tailors their approach accordingly. Whether it’s a first-time buyer searching for the perfect starter home or a seller looking to maximize investment returns, Inspired Realty provides customized strategies to meet specific needs.

Their client-first mindset has earned them a reputation for integrity, reliability, and outstanding results. Many Lake Forest residents turn to Inspired Realty not just for a single transaction but for all their real estate needs over the years.

The Lake Forest Real Estate Company for Hassle-Free Buying or Selling

Lake Forest’s real estate market is competitive, and working with a knowledgeable, locally rooted company like Inspired Realty gives buyers and sellers an undeniable advantage. Their expertise, combined with their unique ability to handle home updates, makes the entire process more efficient and profitable.

If you’re thinking about buying or selling a home in Lake Forest, don’t settle for an average real estate experience. Work with a company that understands the community, offers expert guidance, and provides full-service support. Inspired Realty isn’t just helping people buy and sell homes—they’re helping families invest in their futures.

February 6, 2025

How Much House Can I Afford? Ask a Coto de Caza Real Estate Agent

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Purchasing a home in Coto de Caza or any other area with high property values requires careful financial planning. Your Coto de Caza real estate agent can help you determine how much house you can afford and what to expect in terms of home prices in this highly desirable area of Orange County.

How to Determine Your Home Affordability

Home affordability determination requires you to identify your monthly housing budget as well as your ratio of debt to income. Your monthly housing expenses should not stretch your finances. Remember, things happen, and emergencies occur. Make sure your monthly budget includes allowances for the unexpected.

Calculate Housing Budget

Many financial advisors recommend you spend no more than 28% of your monthly income.

Take your monthly gross income and multiply it by 0.28. The result is the maximum amount of your housing budget.

Don’t confuse your housing budget with the principal and interest on a house payment. The housing budget includes taxes, insurance, and mortgage insurance if necessary, in addition to the principal and interest on a mortgage.

You can always talk to your Coto de Caza real estate agent to get rough estimates for insurance and taxes on a property.

Before getting to know a Mission Viejo real estate agent, get to know your finances

Determine Debt-to-Income Ratio

A mortgage lender wants assurance that the debt will be paid. High-value properties usually sport a high-value or jumbo loan. This creates more risk for the lender. So they vet borrowers carefully.

Most lenders look for a ratio below 36%. To calculate your debt-to-income ratio, gather up your bills and figure your total monthly debt payments (including the proposed new housing budget). Divide this number by your gross monthly income. Multiply the result by 100 to convert the answer to a percentage.

Turn to your Coto de Caza real estate agent or online affordability calculators for rough estimates. Then hone these numbers down with your real-life figures.

Understanding Coto de Caza Home Prices

Coto de Caza offers the safety and security of a completely gated community as well as high-ranking public and private schools. It’s a little warmer than coastal areas but only a short commute to the Irvine business district.

This makes Coto de Caza homes highly desirable and the prices of the homes reflect this popularity.

Demand is about on par with supply. In December 2024, the median listing price of a Coto De Caza home was $2.7 million. Homes sell for just about 1% under the asking price.

So, while the market may be balanced, it is still competitive. But, buying a Coto de Caza home makes sense if you can afford it. The average home price rose a little over 11% last year.

Work With a Coto de Caza Real Estate Agent

Given the substantial investment required for a home in Coto de Caza, it just makes sense to work with an agent who is familiar with the area and has a network of financial advisors, mortgage brokers, insurance agents, and even home improvement contractors.

So, evaluate your financial readiness. Make sure your income, savings, and debt levels align with the financial commitment required to make a purchase in the market.

Then explore listings with a Coto de Caza real estate agent from Inspired Realty. Your Inspired Realty agent will help you understand the current market and find properties within your budget.

Through its partnership with Inspired Remodels, your Inspired Realty agent can even help you get estimates for updates and upgrades. By carefully assessing your finances and understanding the local market, you can make an informed decision about purchasing a home in Coto de Caza.

January 22, 2025

Mission Viejo Real Estate Broker Market Update

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Wondering what’s happening in the Mission Viejo real estate market? Just ask a Mission Viejo real estate broker. Inspired Realty, your trusted Mission Viejo real estate broker, shares this update.

Mission Viejo Sellers Market

When the supply of available housing falls short of the demand for housing, this exerts an upward force on the market. We call this a seller’s market and we call Mission Viejo a seller’s market in January of 2025.

Demand exceeds supply based on December 2024 numbers and the number of people displaced by the Los Angeles County fires only fuels more demand.

In December of 2024, there were fewer homes for sale than in November 2024.

Mission Viejo or Bust

Mission Viejo continues to be a popular location for people relocating from San Francisco and Seattle. This makes sense because its Orange County location makes commuting convenient.

And where do people who live in Mission Viejo move? They stay in Mission Viejo! An incredible 79% of Mission Viejo sellers searched to stay within the Mission Viejo area.

The same family-friendly environment jam-packed with amenities and activities that brings people in makes them want to stay once they arrive. This exerts even more pressure on the Mission Viejo market. Buying a home in Mission Viejo requires keeping a constant eye on the market as well as advance notice of properties soon to be available for sale. The key takeaway here is to work with someone with a network in this tight-knit community.

The Art of the Deal

Don’t enter this market without a Mission Viejo real estate broker in your corner. Most homes sell at or near the listing price.

In December, homes sold for 98.7% of the listing price. Now 18% of homes on the market experienced a drop in price, but that is not uncommon when sellers fail to follow their agent’s advice and price accordingly.

Picture yourself in this Mission Viejo home

The takeaway? Sellers represented by savvy Mission Viejo real estate agents price homes according to the market. This means you will expect to pay near asking price. On the other hand, sellers represented by brokers or agents that overprice the property are ripe for an offer under the asking price.

It takes a broker familiar with the Mission Viejo market to suss out the difference. That’s why you want a broker on your side. Like Joe Mueller and his team at Inspired Realty.

January 9, 2025

Mission Viejo Real Estate Agent Tips for Buying and Selling at the Same Time

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Ask any Mission Viejo real estate agent and they will tell you buying and selling a home at the same time requires careful planning. The Mission Viejo real estate agents at Inspired Realty offer these tips for buying and selling a home at the same time.

Before getting to know a Mission Viejo real estate agent, get to know your finances

Financial Preparation

Before listing your existing home or shopping for a new home, it pays to get your financial house in order. This includes understanding your budget, planning for expenses and cash flow, and creating a financial backup plan.

Get Pre-Qualified: Get pre-approved for a new mortgage before listing your current home to understand your buying power and set a realistic budget.

Assess finances: Analyze your cash flow and estimate potential temporary housing costs to ensure you can manage the transition period. What will you do if your home sells immediately?

Explore Bridge Loans: Will you need a bridge loan to cover the down payment and closing costs on the new home if the sale of your existing home doesn’t close first? This option may reduce the stress of simultaneous transactions, but it usually comes with a high interest rate.

Selecting a Mission Viejo Real Estate Agent and Strategy

Pulling off the sale of an existing home while purchasing a new home requires the services of a skilled agent. You need expertise in timing transactions and insights into the average length of the process. Having a seasoned Mission Viejo real estate agent like the ones at Inspired Realty helps.

Agent Experienced in Simultaneous Transactions: These situations present unique challenges. Be sure to select an agent with expertise in simultaneous transactions to guide you through the process. When interviewing potential agents, ask not only about their experience listing and selling Mission Viejo homes but also how often they handle buying a Mission Viejo home at the same time.

Get a Market Analysis: Your Mission Viejo real estate agent must accurately price your current home to sell quickly and develop a strategy for your new home purchase. Having a buyer’s and seller’s market analysis is crucial.

Understand Contingency Clauses: Your agent and strategy should be ready to include contingencies in your offer on the new home, making the purchase dependent on the sale of your current property. Not all sellers are willing to accept contingency clauses. A skilled agent advocates on your behalf.

The Right Mission Viejo Real Estate Agent Prevents This Feeling

Coordinate Logistics and Timing

In an ideal situation, you would close on your old home and your new home on the same day at the same time. Forget that fantasy. Prepare for the reality of one home selling and closing before the other.

Temporary housing: Arrange temporary living arrangements like staying with family, the short-term rental of an apartment, or holing up in a hotel or an Airbnb if necessary.

Rent-back agreement: Consider a rent-back agreement if you need to stay in your current home for a short period after closing. Ask your Mission Viejo real estate agent if they are experienced in these negotiations.

Closing date coordination: Rely on your agent to coordinate closing dates on both properties to minimize the time between selling your old home and buying the new one. An agent with experience in Mission Viejo knows the approximate amount of time it takes to close either of those transactions once you have a signed contract.

Communication: Maintain open communication with your real estate agent, lender, and all parties involved to keep the process moving smoothly.

Mission Viejo Real Estate Agent and Contractor

Whether you need to make repairs to your existing home or update the home you are buying, be ready to prioritize the work.

Inspired Remodels, the sister company of Inspired Realty repairs and remodels homes in Mission Viejo and throughout Orange County. Rely on this dynamic duo to get your existing home ready to sell and make your new home the home of your dreams.

TLDR: When buying and selling a home simultaneously, key tips include:

getting pre-approved for a mortgage, considering a bridge loan, choosing a skilled real estate agent, securing temporary housing, and carefully coordinating closing dates to minimize disruption and potential financial risks.

December 17, 2024

Real Estate Company in Dana Point Shares 2025 Market Trends

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No one times the market exactly. But those accustomed to following the market often spot trends before others. Inspired Realty, a real estate company in Dana Point, shares its intel on the 2025 real estate market in Orange County.

Core logic real estate projection map by state

Source

Resiliency in Residential Markets

The future for residential markets looks bright for 2025. Demand for residential properties in suburban areas will continue to be strong. CoreLogic predicts value increases in the neighborhood of 3 – 5% (pun intended).

While those numbers fall short of the heights previously enjoyed, they stand in stark contrast to previously hot markets in places like Florida and Texas. The heat may turn down to a simmer, but the pot is still boiling.

Suburban Flight Continues

Don’t expect an end to the move to the suburbs. The limited inventory in Los Angeles continues to drive prices above the affordability point for many buyers.

Source

Dana Point plays an important role as a suburb of Irvine, but its location between Los Angeles and San Diego positions it perfectly for remote workers who only go to the office a few times a month.

The Dana Point restaurants, stores, and parks provide plenty of opportunity for recreation and shopping while still close enough to drive to urban locales for special events.

Dana Point residents find more affordable home options while maintaining proximity to urban resources.

These are just a few of the reasons homes in Orange County locations like Dana Point will only stay on the market for less than three weeks.

Growing Economy Exerts Positive Force

The Anderson School of Management at UCLA expects the California economy to grow faster than the national economy in the next two years, but only by a hair.

International immigration and onshoring technical manufacturing fuel these increases in growth. As the economy grows, more people move into the area, and this increases the demand for housing.

If you plan to buy a home in Dana Point, make it sooner than later. More people moving into the area increases the demand, driving prices up.

If you plan to sell a home in Dana Point, you also want to move sooner than later. Does that seem counterintuitive to you? Hardly, the longer you wait to sell, the later you buy your next home. Sure, you might get a higher sale price, but you will pay more for your next home.

Real Estate Company in Dana Point Remodels Too

Let Inspired Realty help you create the home of your dreams in Dana Point. Because Inspired Realty works with Inspired Remodels to update and remodel Orange County homes, you focus on finding a home in the location you want. Then, Inspired Remodels converts the home into your dream home.
The 2025 real estate market in Dana Point looks bright. Trust Inspired Realty to help you navigate buying and selling in any Orange County neighborhood.

black and white photo of old savings and loan building

November 19, 2024

Real Estate Company in Lake Forest Shares Financing Tips

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Getting that Lake Forest home of your dreams begins before you ever look at the first listing. Inspired Realty, a real estate company in Lake Forest shares tips for securing that all-important mortgage smoothly. A smoother mortgage process equals a smoother buying and closing experience.

Understand Your Financial Position

Before you shop for homes, it pays to shop for mortgages. Understanding what you can comfortably afford makes the home shopping experience less stressful. Also, when you let the real estate company in Lake Forest helping you know the amount for which you’ve been preapproved or prequalified (more on that later) they serve you better.

Know Your Down Payment

The golden rule many in real estate followed was to put 20% down. But you can find mortgage lenders willing to lend with as little as 3% to 5% down.

The down payment can come from a gift from relatives (this needs to be confirmed in writing), a withdrawal from savings, a 401K or IRA distribution (check the tax penalties), or sale of stock.
The larger your downpayment, the smaller your monthly payment. In addition, you may forgo the need for mortgage insurance. This saves you even more each month.

Know Your Credit Score

Looking for a home in Lake Forest? Unless you are making an exceptionally large down payment, you’ll need an exceptionally high credit score.

If you’re borrowing more than $1,149,825 in 2024, you’ll need a jumbo loan. Jumbo loans exceed standard loan amounts.

Along with the higher amount comes a requirement for a higher credit score. Ensure your credit score comes in at least 700. Some lenders look for 750. If you need to increase your credit score, reduce the amount of revolving credit. Utilize 30% or less of your available credit. According to Lending Tree, decreasing your credit utilization rate raises your score in as little as 30 to 45 days.

Get Prequalified

Go the extra step and get prequalified instead of merely preapproved.
When you work with your Lake Forest real estate agent to prepare an offer, backing the offer with a letter of prequalification makes your offer stronger.

A buyer with a letter of preapproval hasn’t had their application approved by an underwriter. Sure, they’ve had balances and income verified, but they haven’t been approved by an underwriter. Things can still go sideways. When you get prequalified, an underwriter has already signed off on lending you money.

Get Your Documents Together

Any real estate company in Lake Forest will tell you, start getting your documents together early. You’ll need at least 30 days’ worth of pay stubs. Even if you receive your pay through direct deposit, the lender will want to see actual paper stubs.

You may need to show tax returns for at least 2 years. Dig those out now.
In addition, you’ll want to scrounge up or print out several months’ worth of bank statements. The lender wants to see your spending patterns. Bank statements make a great source document for this data.

If you receive supplemental income, gather proof of this income as well.

Ask Your Real Estate Company in Lake Forest for Recommendation

Not sure where to apply for a mortgage? Talk to the real estate company that will help you buy the Lake Forest home.
For example, Inspired Real Estate, a trusted real estate company for Lake Forest purchases, recommends loan brokers who can help you qualify for a loan and walk you through the process. Any real estate company in Lake Forest should provide the same recommendation.

November 5, 2024

Why Aliso Viejo Real Estate Agents Say The Holidays Are Great for Home Buying

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Conventional wisdom holds the holidays are a poor time to buy a home. This may ring true for some parts of the country but isn’t true in Aliso Viejo. Discover why Aliso Viejo real estate agents say the end-of-the-year holidays present a great time for home buying.

Home Buying in Aliso Viejo Is Highly Competitive

Aliso Viejo Competitive Market

To begin with, understand the market conditions. In September of 2024, the average home for sale in Aliso Viejo received an average of 4 offers. On average, homes here sell in 37 days.
To snag a home here, you must work with one of the Aliso Viejo real estate agents who knows the lay of the land and moves quickly.

Holidays Decrease Competition

Buying a home during the holiday season works in the buyer’s favor because fewer people look for homes during the holidays.
Many people focus on family gatherings, travel, and holiday parties and get-togethers. Whether it’s a Christmas Cantata at the church or attending the Newport Beach Boat Parade, people have stuff to do.
This busyness eats into the time available to shop for homes. This works perfectly for the holiday season home buyer.
With less competition, your offer receives more attention.

Motivated Sellers

Because the holiday season sees less viewing traffic and results in fewer offers, only serious sellers put their homes on the market at the end of the year.
This bodes well for buyers.
Sellers offering their homes now usually need to sell because of outside influences. This may be a relocation or the purchase of another home. Death and divorce also result in end-of-year home sales.
Buyers may find increased seller flexibility, making the negotiation and closing process smoother.

More Time with Aliso Viejo Real Estate Agents

Fewer buyers in the market means real estate agents have more time to spend helping you land your home.
This results in more showings, phone calls returned faster, and even more personalized service from your agent.
Buyer beware, however. Real estate agents not acquainted with the Aliso Viejo market may use downtime to dip their toes in the waters of an unfamiliar market. Stick with real estate agents that regularly work in the Aliso Viejo market.

Inspired Realty Aliso Viejo Real Estate Agents

Whether you need to list your home or are looking to make a purchase, Inspired Realty helps during the holiday season.
Make the most of the competitive market by working with Inspired Realty agents who understand the Aliso Viejo environment. Get insight into properties coming onto the market, craft winning offers, and close before the year’s end when you work with Inspired Realty during the holidays.

laptop with charts showing financial information

October 22, 2024

Newport Beach Real Estate Update: Market Conditions October 2024

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Perfect temperatures, endless sunny days, and a beautiful coastline make Newport Beach one of Orange County’s most desirable locations. Whether you are looking to buy or sell your Newport Beach real estate, Inspired Remodels keeps up with the market. Check out the latest Newport Beach real estate market information.

Why Real Estate in Newport Beach

From shopping and fine dining to boating, paddleboarding, golf, and other activities, this city on the Southern California coast offers something for everyone. Get involved with community groups, take a hike or sail, or just chill and watch the activity.

Real estate continues to be a great investment and Inspired Realty, one of Orange County’s top brokerage firms, helps buyers and sellers with seasoned real estate agents and property brokers who know Newport Beach, California real estate.

Sellers Market Continues

Newport Beach real estate conditions continue to favor sellers and pose a challenge for buyers.
But it is also a balanced market. In other words, the supply meets the demand. Houses spend an average of only 67 days on the market. This is more than the 49 days it took to sell Newport Beach property back in February but less than the 81 days in December of 2023.

Gaps still persist between listing and closing prices, but buyers and sellers are not far apart.

via Realtor.com

As of the end of September, homes sold for 96% of the asking price with the median listing price $4,988,800 and the median sale price $3,010,000.

Value Holds

Newport Beach property uniquely spans many markets. While many think of this Orange County area as home to luxury homes, it also contains a number of modest and affordable condominiums.

For example, current listings include a 1-bedroom mobile home off Superior Ave for $165K and an 18,336 square foot home on Coastline Drive for $60M.

Fractional Ownership Not an Option

In high-value areas, such as the Newport Beach real estate market, fractional ownership often seems a way to make a luxury home more affordable.

However, in May of 2023, the Newport Beach City Council changed local zoning regulations to consider fractional ownership a form of timeshare ownership.

Since Newport Beach prohibits timeshares in residential areas, fractional ownership is not an option for buying real estate in this city.

The state’s Coastal Commission upheld the decision in October of 2023, officially putting an end to the fractional ownership practice. The current 12 property fractionally-owned remain as legally non-conforming properties, but there will be no more.

Newport Beach Real Estate Brokerage and Agents

When it comes time to buy or sell Newport Beach property, rely on the agents at Inspired Realty.
Get insight into market trends, mortgage market conditions, and tips for a successful deal from those who know Newport Beach.

Home Buying

Determine Your Affordability Range

Factor in Upfront Costs

Consider Upgrade or Renovation Needs

Determine Budget for Ongoing Expense

Dana Point Real Estate Agents That Make Homebuying Less Stressful

Strong Sense of Community and Safety

Top-Rated Schools

Beautiful Natural Scenery and Outdoor Lifestyle

Excellent Location and Commuting Accessibility

Real Estate Variety and Affordability

Mild Climate and High Quality of Life

Lake Forest Real Estate Agents You Can Trust

Local Knowledge Gives You an Edge

Seamless Lake Forest Real Estate and Contracting Services

Negotiation Expertise

A Personalized, Client-Focused Approach

The Lake Forest Real Estate Company for Hassle-Free Buying or Selling

How to Determine Your Home Affordability

Calculate Housing Budget

Determine Debt-to-Income Ratio

Understanding Coto de Caza Home Prices

Work With a Coto de Caza Real Estate Agent

Mission Viejo Sellers Market

Mission Viejo or Bust

The Art of the Deal

Financial Preparation

Selecting a Mission Viejo Real Estate Agent and Strategy

Coordinate Logistics and Timing

Mission Viejo Real Estate Agent and Contractor

Resiliency in Residential Markets

Suburban Flight Continues

Growing Economy Exerts Positive Force

Aliso Viejo Competitive Market

Sellers Market Continues

Value Holds

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