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Orange County home-price gains drop to 7-year low – Orange County Register

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More evidence home appreciation is cooling: Orange County price gains are running at a seven-year low, according to one novel yardstick.

Home values in the county were appreciating at an annual rate of 1.5% in October, according to calculations by the Real Estate Research Council of Southern California. Since 1943, the group based at Cal Poly Pomona has tracked local home-value movements twice a year with volunteer appraisers re-evaluating a set of 308 single-family homes across seven Southern California counties.

The county ranked No. 6 among the region’s seven counties by this price-performance metric. And it’s the smallest appreciation increase since April 2012.

While the council uses a small sample, the consistency of the targeted homes eliminates one flaw in other transaction-based valuation benchmarks — the changing mix of homes selling. And don’t forget, appraisers can swing a market because their valuations are a key part of the mortgage-making process.

The council’s latest appraiser index for Orange County showed appreciation was running 77% below the 6.5% average since October 2012. The latest estimated gains also are below the 4.1% seen six months earlier and less than the 6.5% reported a year ago.

The council’s index for seven Southern California counties showed homes appreciating at an annual rate of 2.8% in October, compared with a 7.9% average since October 2012, 2.8% six months ago, and 7.2% a year ago.


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Jeff Stearman

Jeff has experienced much success in his many years as a Realtor, consistently ranking in the Top 1% of Realtors nationally as well as the Top Agent locally. Jeff also has an MBA and Graduate Realtor Institute (GRI) designation and is Certified Short Sale Specialist and Distressed Property Negotiator and Expert. Jeff has a firm grasp on today’s real estate market and is an expert in all areas of residential real estate, including: traditional sales, residential income properties, vacation properties, luxury homes, as well as distressed properties. Additionally, with his background in mortgage & financial consulting, Jeff can help you understand the numbers side of real estate and offer valuable advice on the different types of home loans and financing options that you could take advantage of. His clients say: "If you want something done, ask a busy Realtor.” The Stearman Group has successfully sold over 3,000 homes because they carefully work with their clients to create successful solutions. They strive to solve your individual housing needs-one client at a time. His team gives only the Best Personalized Service to each of their clients every single time.

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