Real estate experts optimistic about market
Following the recession of the mid-2000s, consumers and real estate experts were concerned about the strength of the market. Many potential homebuyers shied away from purchasing a property because their financial future and the value of the investment were in question. Likewise, housing professionals in various industry outlets were stuck in a lagging market.
However, the housing industry has seen marked improvements during the course of the past year. CNBC reports that real estate experts across the United States are optimistic about the housing recovery currently underway. A survey of over 700 real estate professionals in 19 metros in the nation found that 75 percent of agents believe now is a good time to buy a property, and another 54 percent claim now is a good time to sell.
"Over the past five years, eager sellers have been unable to find a buyer, or more commonly in 2012, eager buyers have been unable to find a seller. But going into 2013, we expect that a jittery market will settle down, and buyers and sellers will more easily come to terms. After years of irrational exuberance, crashes, foreclosure fire-sales, inventory shocks and saw-toothed trends, the cautious, broad-based optimism we're seeing now is the best kind of recovery we could hope for," said real estate expert Glenn Kelman.
The improving optimism of professionals and consumers could benefit potential buyers looking to purchase one of the homes for sale in Orange County. While home prices did rise an average of 5.9 percent in September 2012 in comparison to September 2011, properties still remain affordable.
For example, the community of Anaheim, ZIP code 92801, had a median single-family home price of $300,000 in September 2012 - unchanged from September 2011. However, the number of home sales did increase 3.1 percent. According to real estate news and custom data provider DataQuick, there were 33 properties sold in Anaheim in September 2012.
Another community in Orange County that has featured increasing home sales and remains affordable is Fullerton. The 92831 ZIP code had a median property price of $330,000 in September 2012 - down 8.3 percent in a year-over-year comparison. Similar to Anaheim, more properties were sold in the Fullerton neighborhood in September 2012 than in September 2011. The source claims that 23 properties were sold during the month - up 35.3 percent.
Potential homebuyers can consult with a local real estate expert to determine if real estate in Orange County offers exactly what they are looking for.