Demand has been on the rise for more than 2 months now, while supply is still at historic lows. This is creating a hot seller's market in Southern California, including Orange County.

Over the last 2 weeks in Orange County, demand has gone up by 24% while supply has actually gone down by 2%. Mortgage applications are at a 11-year high, supply is at a 7-year low, and demand is almost at a 7-year high. We haven't been in this hot of a seller's market since 2013. If you are planning on selling your home this year, I can't emphasize this enough, NOW IS THE TIME.

On the buyers side, interest rates are still at historical lows. If you're patient, and go into the process knowing that there is a good chance there will be multiple offers on most homes, you have the opportunity to lock in the lowest interest rates ever seen for a mortgage.

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In this episode, Mina Yasuda, a mortgage advisor for JMAC Lending returns and we discuss some of the most common questions we both get from first time home buyers. If you are thinking of looking for your first home, this is a good place to start. Some of the questions we discuss are:

1. What is a buyer’s agent and why should I use one?

2. Do I need a 20% downpayment to purchase a home?

3. Can I get my deposit back if I cancel escrow?

4. How much should I have on top of the downpayment for closing costs?

5. What are a few strategies I can use to get my offer accepted if it’s not the highest offer?

6. When can I lock in my interest rate?

If you want to stay up-to-date on the latest housing market news, and get helping info about how to buy or sell a home, check me out on the following platforms:

Follow me on Facebook at: https://www.facebook.com/joshalexanderrealestate/

Follow me on Instagram at: https://www.instagram.com/josh_the_real_estate_dad/

Follow me on LinkedIn at: https://www.linkedin.com/in/joshalexanderrealestate/

Always on the go? Check out the Orange County Housing Market News podcast:

Apple: https://apple.co/3e1PX87

Google Play: https://bit.ly/2WRwCkl

Spotify: https://spoti.fi/2zhJtD9

Want a more detailed breakdown of the home buying process? No problem, just reach out to me and I can send you some more information about the home buying process, costs involved for buyers, and how to properly budget for a home.

I also offer a no cost first time home buyer consultation where we take about an hour either in person, or over the phone, to discuss your specific situation and we walk through the entire home buying process from start to finish so you know exactly what to expect before, during, and at the end of escrow so you'll know exactly what to expect every step of the way. This also helps take a lot of the stress out of the process.

Just email me at [email protected] and we can set something up that works with your schedule.

If you have additional questions about loans you can reach Mina at [email protected] or follow her on Instagram at @minamortgage. If you want to see some additional helpful videos specifically about getting a loan you can also check her out on YouTube at https://www.youtube.com/channel/UCsNy34IQGF9pnT5fUmN2LBw

The end of May Orange County housing market update is here! Wow what a change we have seen over the last 3 weeks. While other industries are projected to see a U shaped recovery, the housing market is currently looking more like a V shape. Demand has skyrocketed while supply is finally starting to pick up steam. It might be a little late for the start of the Spring market, but it looks like we will be picking up where we left before the lockdown began. In this episode I will discuss:

- The Southern California and Orange County Housing Market trends

- Positive news on forbearance and future foreclosure issues

- What areas might be impacted the hardest and what areas might be seeing a surge in demand as a direct result of the market

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In this market update will look back at the data from April and the first week of May to see where the supply and demand are trending for the housing market and what that means for future home prices. We will also look at the F words(forbearance and foreclosure) that you have probably been reading about in the headline news to see how much they might impact the market, and finally we will look at the specific supply and demand numbers for Orange County to see how the market is shaping up as we start to see some of the stay at home orders lifted.

In episode 3 of the coronavirus Orange County housing and lending market update I brought back Mina Yasuda and we discuss three main topics:

1) Why this recession won't impact housing like the great recession of 2008

2) Updates on the mortgage market that have helped stabilize the industry

3) Update on the housing market on Orange County and how the supply and demand curves are starting to show that we are seeing some light at the end of the tunnel.

Have you been thinking of selling your home this Spring but are now uncertain because you're not sure how risky it is?

In California, real estate is still considered essential. So, if you're going to sell your home during this pandemic, you need to make sure you are not only aware of how the selling process has changed in the last few weeks, but know how to keeping yourself safe and eliminating as many contact points during a sale as possible.

In this video, I'll go over some of the changes the industry has made to keep sellers safe, I also go over what you should expect before and after you put your home on the market and what escrow now looks like for sellers so you can successfully navigate through the process.

In California, real estate is still considered essential. So if you are going to purchase a home during this pandemic, you need to make sure you are not only aware of how the buying process has changed in the last few weeks, but know how to keeping yourself safe and eliminating as many contact points during a sale as possible. In this video I'll go over some of the changes the industry has made to keep buyers safe, and what you should expect as you look for your new home to help you successfully navigate through the process

In this Facebook Live interview, I talk to Dino Katsiametis the broker/owner of CA Coastal Loans. Some of the topics we cover are:

➡️Why interest rates have been fluctuating so much

➡️What has changed in terms of how people qualify for loans,

➡️What new processes and procedures have been implemented that might impact your escrow

➡️Where we sees the market going based on the latest data and much more

In this interview, which took place on April 1st, I talk to a mortgage lender and VP of Title Insurance and we discuss how much has changed over the last 2 weeks due to the impact covid-19 has had on Southern California real estate sales. A few topics we cover are:

-What the current supply and demand is for the Orange County housing market

-How the process has changed for buyers and sellers before and during escrow

-How to stay safe when buying or selling a home while staying within the state and county guidelines of shelter in place

-What has changed for mortgage loans and why you really need to have daily contact with your lender during this challenging time

-What title insurance is and how it protects both the buyer and seller

-Why it's important to get title information on a home as soon as possible, especially right now.

-What else is important to know about the real estate industry right now

The coronavirus is currently on everyone's mind. It seems like no matter how hard you try, you can't escape the headlines. So let's take a look at the actual data to see how the Orange County housing market is responding to the travel bans, shutdowns, and toilet paper panic. The quick answer is, as of now, there doesn't seem to be any noticeable impact, demand is still increasing and supply of homes is finally starting to rise, giving buyers more choices as they hunt for their dream home in this historically low interest rate environment.