Lisa Switzer » News and Events

UCLA sees 16% home-price gain in 2010

Lisa Switzer — Tue, 03 Nov 2009 14:32:27 +0000

UCLA sees 16% home-price gain in 2010
Orange County Register, October 29th, 2009

Double-digit housing appreciation will return to Orange County next year, with the median home price rising somewhere from 15.9% to 16.6%, UCLA economists forecast in a report released today. That compares to a projected 8.8% gain in California next year and a 2.4% increase nationwide.

It also differs sharply from Cal State Fullerton’s outlook. An economist there said Tuesday that Orange County home prices will rise 2% to 3% next year – at most.

But Mark Schniepp, author of UCLA Anderson Forecast for Orange County, said he’s not predicting the return of the housing bubble. Even after six years of appreciation, UCLA economists still don’t expect home prices to reach the 2006 peak. In fact, home prices likely won’t get back to that level again until 2016 or 2017, Schniepp said. “We’re already at 16% (appreciation) from March. That’s just six months, and I’m talking about a year-over-year (change),” said Schniepp, chief economist with the California Economic Forecast. “When you have a cycle where you’ve overcorrected, you can go up 16%. It doesn’t really mean much. The gist of the forecast, Schniepp said, is that the Orange County housing market is in recovery. “The train has left the station. It’s going down the track. This isn’t a head fake,” he said.

He added: “Now is the time to buy. (Actually), the time to buy was the spring and early summer.”The UCLA housing forecast is part of an outlook that projects a jobs turnaround in O.C. in 2011.

In addition, the Orange County housing forecast states:

That from 2011 to 2015, O.C. home prices will increase by 2.5% to 8.7% a year. The median home price, at $406,481 this year, is projected to top $500,000 by 2011 and to be above $600,000 in 2015.
That foreclosures are expected to rise again early next year, but won’t derail the recovery.
That homebuilding this year will fall to 1,912 units, the lowest number in records dating back to 1946.
That homebuilding will pick up by 2012, rising above 11,000 units a year — levels not seen since 2002. In 2013, UCLA projects that housing starts will total 12,537.
That mortgage interest rates will remain low. Southern California rates likely will be below 6% through 2015, the forecast said.
That commercial real estate will be hampered by high unemployment through 2010, with recovery not expected until around 2011.
Office vacancies — currently at 18% to 20% — will start to drop in 2010, but lease rates won’t resume going up until 2011.
Retail sales are expected to start picking up in late 2010, aided by the recovery in the housing market.
“We do look for a much more robust recovery, certainly by 2011 and for homebuilding by 2012,” Schniepp said.

What day with our community!

Lisa Switzer — Thu, 06 Aug 2009 00:35:24 +0000

Wow, what a day today was. The VP of Habitat for Humanity, Paula Neal Reza, the Orange Chamber of Commerce and Congressman Ed Royce all were guest speakers at our office meeting. Each speaker gave us so much information on how they have impacted the lives of many families and children throughout Orange County.

My philosophy as stated before is although one person can make a difference it takes a team in order to achieve greatness! Our office has committed to being so involved within our community it is over whelming and makes me so honored to get to work so many people who give back so much.

Congressman Ed Royce is a 9th term Congressman and is so well respected and liked within his district it is no wonder he is the recipient of so many honors and awards during his tenure. He was so inspiring today, and so gracious with his time and feed back to everyone who attended. It was really a pleasure for all of us today to get to spend some time with him.

The Orange Chamber of Commerce was awesome! They had all of their Ambassadors attend and we got to hear from the Chairmanof the Board, Chris Horton. I hope you get a chance at some point to hear Chris speak. We were all enlightened by how much the Chamber has contributed back into the community. It was also pretty cool when they told us we broke the record for having the most people attend a ribbon cutting event. We had close to 100 people here so looks like we had a great turn out!

We look forward to having a pizza party while building another home for Habitat for Humanity later this year, so I will definitely keep those in the vicinity posted in case you want join us. This is one organization that never ceases to amaze me!

I love to see brokers involved with their community and keeping a pulse on what is ever changing locally so we can keep our clients well informed. I know staying in the loop with our Rotary clubs, Chamber of Commerce’s and our many charities that we are all empowering one another within the community! Great job to the First Team Anaheim Hills office for all that you do!

Website for Free & Up-to-Date Foreclosed Property Listings Unveiled by First Team Real Estate

Lisa Switzer — Thu, 18 Jun 2009 00:33:58 +0000

Introducing www.ForeclosureDestination.com

July 2009 – Many smart consumers instinctively understand the financial opportunities opening up to them through a large inventory of foreclosed and other types of distressed properties currently on the market. For many hopeful homeowners, the rules of real estate have changed for the better, though few real estate companies have recognized, let alone acted on, those changes.

The notable exception is First Team Real Estate, whose recently established foreclosure, distressed property-exclusive website www.ForeclosureDestination.com extends the company’s client-focused approach. Through the new site, First Team is the only broker to offer free access to over 20,000 foreclosed Southern California properties; there are no subscription fees attached.

ForeclosureDestination.com – is a no-strings-attached resource for accessing up-to-date MLS listings of distressed properties, which includes all available listings across Orange, Riverside, and San Bernardino counties plus the southern area of Los Angeles County; Palm Springs and other desert areas; and north San Diego County; appealing to first time home buyers, real estate investors and current homeowners. Listings are updated daily and include a complete description, status, photos, and full address information.

Houses range in price from less than $100,000 to more than $8 million – even luxury is on sale at this unique time when consumers can buy homes at prices significantly lower than what’s been seen for many years.

Navigation of the site is especially user-friendly, allowing anyone to search specific areas, price ranges, and property types for detailed listings of the best bargains in specific neighborhoods. Because full addresses are included, prospective buyers can determine the exact location of a property of interest.

The website also provides instant access to local, Southern California real estate agents with specific expertise of the neighborhoods and markets being searched to help consumers maximize the value of their purchase.

The new website is great news for those local consumers who are part of a nationwide trend as revealed by a recent survey showing that 55 percent of adults in the U.S. would consider buying a foreclosed home. The number marks a significant jump from a figure of 47 percent in a similar survey made in November, 2008. The survey, released in May, 2009 was conducted by Harris Interactive on behalf of real estate industry leaders in online property listings.

According to First Team founder and CEO Cameron Merage, the bold move to provide consumers with a free, distressed property-exclusive website is in keeping with the spirit of his company’s “The NEW Rules of Real Estate®” campaign, which sets a higher standard for client service in real estate. Merage added, “the website is specifically designed to empower clients so they can make the best use of the latest dynamics in the real estate market in real time to find a great house at an affordable price.”

For more information about how First Team can help you find the best real estate opportunities for yourself and view current distressed property listings, visit www.ForeclosureDestination.com.