Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Tustin Foothills. Low rates with falling or stablizing home prices makes a home purchase a great value! Call now for more information at 949 613-2219 - speak directly with Bob Dorman - your local neighborhood specialist!

Average Home Price $1,000,000 - View Graph Trend
Average Price Compared to Last Year Down 0-5%
Average Time on Market More than 120 days
Best Selling Price Range$800,000 - $849,000
Worst Selling Price Range$1,000,000+
Prices As % of Asking Price 90-95%
Existing Home Prices for the past 90 days are?No Change
Market Trend Increasing
Buyers’ or Sellers’ Market More buyers than sellers
Buyer Activity for the past 90 days in Tustin Foothills isIncreasing
Seller Activity for the past 90 days in Tustin Foothills is?Increasing
Multiple Offers?No
Multiple Offers CommentaryThe typical cases where sellers are receiving multiple offers tend to be either well priced distressed properties or sellers with equity who have determined the actual market price of their home and made the decision to not over price their property - This creates the best opportunity for full price offers and or multiple offers.
What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?30-35%
Is Financing Available For Qualified Buyers?Yes
Comments on Financing For Qualified BuyersAlthough we hear a lot about difficulty for buyers to get financing, the reality is that if you’re a qualified buyer - i.e. have good credit, a level of debt that doesn’t throw their debt to income ratio’s out of balance, a good job / career history and have the income required to make the home purchase, there are plenty of lenders who will make the loan!
Housing Inventory Limited Supply
Greatest Activity Repeat Buyers
Reason to Buy/Sell Lower prices with good selection and competitive interest rates creates a perfect time to buy in Tustin Foothills! It’s hard to find concensus amoungst guru’s in any industry - however, there is strong concensus that mortgage interest rates will move up over the next year or two making home ownership less affordable - your money will buy less home value in the future when interest rates rise!
Nearest Metro AreaOrange County
Housing Hot SpotsMost cities within the Orange County area are considered ’Housing Hotspots’ - the beach areas in particular as well as one of the nations most sought after living areas and school districts - The City of Irvine - overall Orange County CA is one of the most desireable Counties to call home!
Average Sold Price $1,000,000 - View Graph Trend

Tustin Foothills Local News


News for Tustin Foothills, CA - December 8th, 2011 1:03pm
The Tustin/Foothills Area of Orange County has shown a remarkable rebound, considering the economic climate and the time of year, with a REBOUND in prices of 26% in week over week data supplied today...
The Christmas time of year continues to be a historically wise time to list or to purchase a new home, due to the lack of inventory and activity!
Call now for a Free Market Analysis from a local professional in your area!

News for Tustin Foothills, CA - June 20th, 2011 9:42pm
Although these comments apply as much to Orange County as to Tustin Foothills the national media can readily mislead you when it comes to quoting national statistics.

Ultimately buying depends upon the location and how long a buyer is going to stay in
the home. According to the Case-Shiller home-price index the United States dropped 4.6% year over year for the first
quarter of 2011, prompting them to identify the current market as a double dip. Immediately it was all over the
Internet, newspapers, blogs, newscasts, CNN. Now that we are in the "too much information" age, the news of
a "double dip" was everywhere instantly. In performing a Google search, the term "housing double dip"
resulted in 782,000 results since May 30th, less than two weeks ago. What received very little news was the
fact that the index tracts Los Angeles and Orange County combined and it posted a drop of just 1.7% year over
year. Also receiving very little attention was the fact that the national 4.6% drop was hardly the pace of the
downturn of the first quarter of 2009, when it posted a record 18.9% drop. It took a week, but more and more
articles started to surface, indicating that NOW may be the perfect time to buy. Here are a few trends that
point to buying being a really smart decision

News for Tustin Foothills, CA - March 22nd, 2011 12:45am
Orange County Housing Report: Spring is in the Air!

March 18, 2011

Spring forward has a new meaning this year, Orange County housing demand is springing into action.

Housing Demand: Demand is at its highest level since August of last year.
That's correct. Demand is taking off DESPITE the lack of government intervention in the form of a tax credit. Last year at this time the market was very robust. But, right after the first time home buyer tax credit ended at the end of April, demand took a giant nosedive. It was right smack in the middle of the spring market, typically the best time of the year in terms of demand. This year is very different. The market is functioning without a credit to artificially stimulate the market. Current demand may be trailing last year's numbers, but I am confident that there will not be a nosedive in demand in the middle of this year's spring market. I have often said that in housing ... [ + Read Full Article ]

News for Tustin Foothills, CA - March 22nd, 2011 12:40am
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Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
 30 yr. fixed rate:     3.89%
 15 yr. fixed rate:     3.21%
  30 yr. jumbo rate:  4.61%
  15 yr. jumbo rate:  3.97%

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Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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