Sweet Orange

Note: The Altos Market Action Index shows the balance between potential buyers and sellers, in other words, the balance between supply and demand.  Above 30 is a sellers’ market; below 30 is a buyers’ market.

Also, these Altos Research numbers are for detached houses only (condos are not included). For this reason, I have included numbers that show the percentage of hones in each city that are detached houses. The Redfin numbers are for both houses and condos.

To see additional information from Redfin including which homes are currently on the market as well as what homes have sold for recently, click on the Redfin link. To see additional Altos Research numbers for each city, click on the Altos Research link.

Following are some recent Altos Research and Redfin numbers for the North Orange County housing market.

Summary: In general, according to the Altos Research index numbers, the housing market is improving in North Orange County. However, the housing markets for all North Orange County cities are still buyers’ markets. Then again, Garden Grove and Stanton, which have Altos index numbers just shy of 30, are approaching a sellers’ market. As has been true for some time, the low-end of the housing market in North Orange County is doing better than the high-end.

Anaheim: Approximate % homes on market that are detached: 70%

• Altos Research median list price:
  October 18, 2009: $374,408
  August 16,2009: $364,232
• Altos Research Market Action Index:
  October 18, 2009: 26.24
  August 16, 2009: 22.19
  July 5, 2009: 23.69
• Redfin median sold price:
  September 2009: house–$241/SF; condo–$217/SF

Brea: Approximate % homes on market that are detached: 90%

• Altos Research median list price:
  October 18, 2009: $551,288
  August 16,200: $550,327
• Altos Research Market Action Index:
  October 18, 2009: 19.98
  August 16, 2009: 16.57
  July 5, 2009: 20.14
• Redfin median sold price:
  September 2009: house–$271/SF; condo–$207/SF

Buena Park: Approximate % homes on market that are detached: 85%

• Altos Research median list price:
  October 18, 2009: $363,731
  August 16,2009: $357,945
• Altos Research Market Action Index:
  October 18, 2009: 26.23
  August 16, 2009: 21.09
  July 5, 2009: 23.32
• Redfin median sold price:
  September 2009: house–$266/SF; condo–$174/SF

Cypress: Approximate % homes on market that are detached: 70%

• Altos Research median list price:
  October 18, 2009: $532,196
  August 16,200: $502,327
• Altos Research Market Action Index:
  October 18, 2009: 22.57
  August 16, 2009: 20.12
  July 5, 2009: 25.82
• Redfin median sold price:
  September 2009: house–$276/SF; condo–$217/SF

Fullerton: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $561,908
  August 16,2009: $545,955
• Altos Research Market Action Index:
  October 18, 2009: 21.24
  August 16, 2009: 18.90
  July 5, 2009: 21.41
• Redfin median sold price:
  September 2009: house–$248/SF; condo–$208/SF

Garden Grove: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $377,958
  August 16,200): $376,622
• Altos Research Market Action Index:
  October 18, 2009: 29.34
  August 16, 2009: 26.00
  July 5, 2009: 27.56
• Redfin median sold price:
  September 2009: house–$280/SF; condo–$214/SF

La Habra: Approximate % homes on market that are detached: 70%

• Altos Research median list price:
  October 18, 2009: $481,831
  August 16,2009): $508,236
• Altos Research Market Action Index:
  October 18, 2009: 22.75
  August 16, 2009: 21.56
  July 5, 2009: 21.64
• Redfin median sold price:
  September 2009: house–$241/SF; condo–$142/SF

La Palma: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $581,795
  August 16,2009): $606,200
• Altos Research Market Action Index:
  October 18, 2009: 21.99
  August 16, 2009: 18.77
  July 5, 2009: 18.65
• Redfin median sold price:
  September 2009: n/a

Placentia: Approximate % homes on market that are detached: 75%

• Altos Research median list price:
  October 18, 2009: $526,823
  August 16,2009): $527,559
• Altos Research Market Action Index:
  October 18, 2009: 20.33
  August 16, 2009: 18.14
  July 5, 2009: 20.49
• Redfin median sold price:
  September 2009: house–$252/SF; condo–$126/SF

Stanton: Approximate % homes on market that are detached: 65%

• Altos Research median list price:
  October 18, 2009: $314,192
  August 16,2009: $309,736
• Altos Research Market Action Index:
  October 18, 2009: 29.45
  August 16, 2009: 25.48
  July 5, 2009: 23.67
• Redfin median sold price:
  September 2009: house–$238/SF; condo–$200/SF

Westminster: Approximate % homes on market that are detached: 85%

• Altos Research median list price:
  October 18, 2009: $451,135
  August 16,2009) $451,536
• Altos Research Market Action Index:
  October 18, 2009: 27.03
  August 16: 23.12
  July 5, 2009: 27.83
• Redfin median sold price:
  September 2009: house–$274/SF; condo–$202/SF

Yorba Linda: Approximate % homes on market that are detached: 80%

• Altos Research median list price:
  October 18, 2009: $772,069
  August 16,2009: $804,377
• Altos Research Market Action Index:
  October 18, 2009: 17.42
  August 16, 2009: 15.00
  July 5 2009: 17.88
• Redfin median sold price:
  September 2009: house–$248/SF; condo–$260/SF

Today, we will take a look at how the North Orange County housing market for detached homes is doing as shown by the Altos Market Action Index. The most interesting numbers are for the highest priced market in this area, Yorba Linda, and the lowest price area, Stanton.

According to the Altos index numbers for North Orange County, the Yorba Linda housing market has the least healthy outlook, and Stanton has the healthiest outlook. However, as shown by the index numbers, the housing market in all North Orange County cities is a buyers’ market. This is a repeat of what was happening in May.

Note: The Altos Market Action Index shows the balance between potential buyers and sellers, in other words, the balance between supply and demand. Above 30 is a sellers’ market; below 30 is a buyers’ market. The Altos numbers are for detached houses only (condos are not included). For this reason, I have included numbers that show the percentage of houses in each city that are detached.

Anaheim: Approximate % homes on market that are detached: 73%

• Median list price (August 16,2009): $364,232
• Altos Research Market Action Index:
  August 16: 22.19
  July 5: 23.69

Brea: Approximate % homes on market that are detached: 89%

• Median list price (August 16,2009): $550,327
• Altos Research Market Action Index:
  August 16: 16.57
  July 5: 20.14

Buena Park: Approximate % homes on market that are detached: 85%

• Median list price (August 16,2009): $357,945
• Altos Research Market Action Index:
  August 16: 21.09
  July 5: 23.32

Cypress: Approximate % homes on market that are detached: 67%

• Median list price (August 16,2009): $502,327
• Altos Research Market Action Index:
  August 16: 20.12
  July 5: 25.82

Fullerton: Approximate % homes on market that are detached: 78%

• Median list price (August 16,2009): $545,955
• Altos Research Market Action Index:
  August 16: 18.90
  July 5: 21.41

Garden Grove: Approximate % homes on market that are detached: 78%

• Median list price (August 16,2009): $376,622
• Altos Research Market Action Index:
  August 16: 26.00
  July 5: 27.56

La Habra: Approximate % homes on market that are detached: 69%

• Median list price (August 16,2009): $508,236
• Altos Research Market Action Index:
  August 16: 21.56
  July 5: 21.64

La Palma: Approximate % homes on market that are detached: 81%

• Median list price (August 16,2009): $606,200
• Altos Research Market Action Index:
  August 16: 18.77
  July 5: 18.65

Placentia: Approximate % homes on market that are detached: 75%

• Median list price (August 16,2009): $527,559
• Altos Research Market Action Index:
  August 16: 18.14
  July 5: 20.49

Stanton: Approximate % homes on market that are detached: 66%

• Median list price (August 16,2009): $309,736
• Altos Research Market Action Index:
  August 16: 25.48
  July 5: 23.67

Westminster: Approximate % homes on market that are detached: 87%

• Median list price (August 16,2009): $451,536
• Altos Research Market Action Index:
  August 16: 23.12
  July 5: 27.83

Yorba Linda: Approximate % homes on market that are detached: 79%

• Median list price (August 16,2009): $804,377
• Altos Research Market Action Index:
  August 16: 15.00
  July 5: 17.88

In yesterday’s post, I wrote about Ivy, the new housing development in Irvine, and some of the features that make Irvine Irvine. In the first post that I wrote in my past life as a Redfin blogger, I wrote about this.  As I wrote at that time, some love Irvine and what it has to offer; others are not so impressed.

Those on the con side say that Irvine is too controlled, too monotonous, and too  “beige.” They are in agreement with many who have been taking Erica Chavez’s  “smackdown” polls. These polls ask voters to chose which of two similar homes the voters would prefer to buy: a home in Irvine or a home  in cities such as Lake Forest, Fullerton and North Tustin. For Irvine, at best, it’s a draw, but in most cases Irvine comes out on the bottom.

In spite of this, Irvine continues to be popular with buyers and command a higher price than homes in these other Orange County cities. Maybe it is like one of my former fellow-Redfin bloggers said: Irvine is like the kid in school that always has the right answer. Nothing wrong with that but irritates the hell out of the other kids.

In any case, that is why we have choice. You chose: Is Irvine just right or too beige?

A few Irvine factoids from The Irvine Company’s website:

The FBI has ranked Irvine the safest large city in the U.S. for five years in a row.

One-third of the city of Irvine will be set aside for parks, open space and trails.

All Irvine residents are within walking distance of a park.

Ninety percent of all Irvine high school students go to college.

All four of Irivne’s high  schools ranked in the top 5% of the nation’s schools.

Irvine has four of the top elementary schools in Orange County.

Irvine residents have the shortest commute in Orange County.

PHOTO COURTESY THE IRVINE COMPANY

Today, we will take a look at how the North Orange County housing market for detached homes is doing as shown by the Altos Market Action Index. The Altos Market Action Index shows the balance between potential buyers and sellers, in other words, the balance between supply and demand. Above 30 is a sellers’ market; below 30 is a buyers’ market.

Note that the Altos numbers are for detached homes only (condos are not included). For this reason, I have included numbers that show the percentage of home in each city that are detached. The index numbers listed below are as reported by Altos Research on July 5, 2009.

Also, note that the North Orange County city with the highest-priced homes, Yorba Linda, has the least favorable market index number. And many of the North Orange County cities with the lowest-priced homes have some of the most favorable market index numbers. However, as shown by the numbers, the housing market in all of these cities is a buyers’ market.

Anaheim:

• Altos Research Index–23.69
• approximate % homes on market that are detached–73%

Brea:

• Altos Research Index–20.14
• approximate % homes on market that are detached–89%

Brena Park:

• Altos Research Index–23.32
• approximate % homes on market that are detached–85%

Cypress:

• Altos Research Index–25.82
• approximate % homes on market that are detached–67%

Fullerton:

• Altos Research Index–21.41
• approximate % homes on market that are detached–78%

Garden Grove:

• Altos Research Index–27.56
• approximate % homes on market that are detached–74%

La Habra:

• Altos Research Index–21.64
• approximate % homes on market that are detached–69%

La Palma:

• Altos Research Index–18.65
• approximate % homes on market that are detached–81%

Placentia:

• Altos Research Index–20.49
• approximate % homes on market that are detached–75%

Stanton:

• Altos Research Index–23.67
• approximate % homes on market that are detached–66%

Westminster:

• Altos Research Index–27.83
• approximate % homes on market that are detached–87%

Yorba Linda:

• Altos Research Index–17.88
• approximate % homes on market that are detached–79%

Related post:

• Central Orange County Housing Report: Gauging the Detached Homes Market Status
• South Orange County Housing Report: Gauging the Detached Homes Market Status

If you are fortunate enough that you are able to invest in foreclosures and are interested in pursuing this in Costa Mesa, here is some information that might help.

Costa Mesa is partnering with Fullerton and La Habra to apply for a grant from the Housing and Urban Development (HUD) Neighborhood Stabilization Program. This program is part of the federal Recovery Act.

If the grant is approved, Costa Mesa will receive $303,749 that the city will use to improve areas that are suffering from high foreclosure rates and to provide counseling to those who are interested in buying homes in those areas.

A joint public hearing of all three cities will be held at the Fullerton city council meeting on June 2. For more information, see the Costa Mesa public notice.

Also, the California Foreclosure Institute is providing ongoing free seminars at various Orange County locations.

According to an Orange County Register article, U-Haul truck rentals show that 0.2% more people are migrating into California than migrating out.  Last year, the U-Haul numbers show a different story—1.8% more people moving out of California than moving in. With our poor employment rates, all I can say is that it must be truly bad in some other U.S. locations.

Since U-Haul rental for a move of over fifty-miles is often seen as an indication of where blue-collar worker are choosing to live, the speculation is that many of these California-bound migrators are blue-collar workers. Two Orange County cities make the top-fifty list: Costa Mesa is number 31; Fullerton is number 30.

Just what is the draw of blue-color workers to these two cities (and, for this blog, Costa Mesa, in particular) is worth pondering.  Any speculation on why these two cities are so popular with this group? And for that matter, why are many choosing to move to California when our job market is so poor and our cost of living is still relatively high?

Source: “Moving into California,” The Orange County Register, April 23, 2009

Graphic Courtesy U-Haul