Sales of New Housing Soared in May

July 28th, 2014

According to a recent article from the Los Angeles Times, new home sales were soaring during the spring selling season, rising 18.6 percent from April to May. Western states saw a month-over-month increase of 34 percent, and all regions saw their rate of new home sales increase. The Commerce Department reported a total of 504,000 units sold in the country through May, which is 16.9 percent more than the number seen in May of 2013.

Economists say that the numbers beat expectations and that they’re a sign that the housing markets are heating up once again, the article stated. The market had slowed in late 2013 as prices increased along with mortgage rates. Inventory of new homes in May fell to a 4.5 month supply, meaning that — if they continued at the same pace — there would be no more new homes to buy in 4.5 months. April’s inventory was a 5.3 month supply.

It was a great spring for Brandywine Homes and the buyers of the new homes in Estates Pasadena, our infill development in historic Pasadena. All twelve of the four to five bedroom residences for sale in the community sold. And they sold quickly — within just three weeks. The homes, all ranging in size from about 2,900 to 3,500 square feet, featured gourmet kitchens, luxurious master suites, open floor plans and plenty of eco-friendly features. They were priced at between $1.3 and $1.7 million.

Now is a great time to purchase new housing, and though we sold our residences in Estates Pasadena, we have plenty of gorgeous new homes in great communities across Southern California. For more information,contact us.

 

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Orange County Homes: What’s the Price of Housing Going to Do?

July 21st, 2014

If you’re a potential home buyer in southern California, you’re probably wondering what the price of Orange County homes is going to be in the coming months. While there’s no way to know for sure, some educated guesses can be made based on both history as well as job growth.

According to an editorial recently published in The Orange County Register, DataQuick results suggest that home prices are going to stay reasonably close to what they are now. Since 1998, that data shows flat median selling prices in southern California from June through December since 1998. In the first half of the year, the editorial notes, housing prices were up an average of 4.7 percent from 1998 to 2013. In fact, prices only fell in first halves of the year six times over the past 25 years — in the mid-1990s and then again in 2008, 2009, and 2011.

In the first five months of 2014, southern California witnessed a 3.8 percent increase in home prices. While it’s a sharp contrast to the 19 percent increase seen in the first half of 2013 — the steepest climb in housing prices in at least 25 years — it actually appears to be a relatively normal year. While sales have dropped over the eight consecutive months since May, the editorial states, one can’t discount a healthy job market and the impact it has on sales.

Southern California is currently experiencing the best job market of the century as it works on its third consecutive year of employment growth at two percent or higher. In past years, when the job growth in Southern California exceeded two percent, the median home selling price rose in the second half of the year eight times, indicating a similiar if not somewhat brighter present and near-future for the housing market.

If home buying is in your future, consider a new home in one of Brandywine’s southern California communities. For more information, contact us.

 

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Two Southern California Projects are Announced

July 16th, 2014

Builder

 

BUILDER2014July 02, 2014

By Les Shaver

In late June, two builders announced development on projects in the strong Southern California market. On June 23, Brandywine Homes announced that it had begun demolition on an 18-unit apartment project in Costa Mesa to eventually build 26 townhomes.

A week later, Presidio Residential Capital announced it had partnered with Williams Homes to build Phantom Trail, to build 29 single-family homes in Santa Clarita, Calif. Construction will begin in the spring of 2015, and a grand opening is planned for November 2015.

Both developments fill a need for supply in the hot Los Angeles market, which saw new and existing home closings fall in the first quarter but a 23.7 percent price increase over the first-quarter of 2013. Read More >

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Infill Residential Gets Even Tighter

July 16th, 2014

Infill Residential Gets
Even Tighter

Another rarity in OC: infill residential sites, according to Brandywine Homes VP Dave Barisic. But when a developer’s able to make it work, there’s heavy demand for the product. Brandywine Homes broke ground recently on Covington, a 51-townhouse property on more than five acres near Yorba Linda Boulevard and Blair Street, across from the Richard Nixon Presidential Library and Museum. It’s something not seen in a very long time in Yorba Linda, he says.

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Costa Mesa Infill Development Coming from Brandywine Homes

July 16th, 2014

MARK MUELLER Monday, June 30, 2014

Costa Mesa Infill

Irvine-based Brandywine Homes is moving ahead on a 26-home infill development near The Triangle shopping center in Costa Mesa.

The builder recently closed on the purchase of an 18-unit apartment complex on Anaheim Avenue from Irvine-based Abco Realty and Investments Inc.

Brandywine officials said they’ve begun demolition of the apartment complex and that they’re targeting a completion of a townhome project by the fall of 2015. Sales are expected to start next February.

There will be two floor plans offered at the development, with the largest homes about 1,727 square feet.

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Brandywine Homes Begins Construction of 26-Unit Townhome Community in Costa Mesa, California

July 16th, 2014

6/16/2014

Brandywine Homes, a pioneer of infill development in Southern California, has acquired a 1.42-acre property in Costa Mesa and plans to build a 26-unit townhome community. Demolition of the existing 18-unit apartment complex and construction of the new townhomes will begin immediately. This new townhome community is expected to be completed by Fall 2015, with the first homes becoming available for sale in February 2015.

The property at 2013-2029 Anaheim Avenue is in a quiet residential area just northeast of Triangle Square Mall and the bustling retail area along Newport Blvd.

“This townhome community is located just two miles from the beach and Pacific Coast Highway and less than a mile from the 55 freeway,” said Dave Barisic, vice president of sales and marketing at Brandywine Homes. “With easy access to vast amenities, restaurants and entertainment, the lush, landscaped gated community will offer a quiet, peaceful environment for residents with large private yards and a community pool.” Read More >

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Are You Financially Ready To Buy an Orange County Home for Sale?

July 14th, 2014

Many people start thinking about buying an Orange County home for sale when they feel ready to settle down.  Maybe they’ve just gotten married or they’re thinking about starting a family.  Or maybe they’ve just gotten well-settled in their careers, so they think that it makes more sense to buy a home rather than continue renting one.  If you’re considering buying a home, read on to figure out if you’re ready to do so.

  1. Do you have enough money for a down payment? This is usually one of the things that deters people looking to buy a home.  You need to have, at the very least, 5% of the total worth of the home to put down as a down payment.  The more you can put down right at the beginning, the better your chances of being approved for a mortgage.  If you have enough savings or your family is willing to help you out, you may be ready to buy a home.
  2. Do you have a steady source of income? If you’ve just left a job and started your own business, you may not be in the right financial place to buy a home.  At one point of time, it’s best to focus on one new venture.  So if you have a new job or a new business venture going, focus on that and not on buying a home.  A year or two down the line, you can reconsider.
  3. Do you have a good credit history? You could have savings, a steady source of income and still not have a good credit history.  Maybe you have a number of loans, either personal or for your business.  Or maybe you went through a rough patch and are still paying off your credit cards from that time.  It’s really important to make sure that your credit history is good before trying to buy a home.
  4. Does buying a home make financial sense? In general, buying property is always a good idea.  Not only does this ensure that you’ll have a roof over your head, it also makes a good investment.  If you choose not to live in the property at some point in the future, you’ll be able to rent it out or sell it, hopefully for a profit.  Still, there are times when buying a home may not be financially sound, such as when you have a number of loans or are planning to move jobs.

Contact us for more tips on figuring out if you’re financially ready to buy a home.

 

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Bisnow Real Estate OC “Infill Residential Gets Even Tighter”

July 8th, 2014

Another rarity in OC: infill residential sites, according to Brandywine Homes VP Dave Barisic. But when a developer’s able to make it work, there’s heavy demand for the product. Brandywine Homes broke ground recently on Covington, a 51-townhouse property on more than five acres near Yorba Linda Boulevard and Blair Street, across from the Richard Nixon Presidential Library and Museum. It’s something not seen in a very long time in Yorba Linda, he says.

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Considering Your Long Term Goals When Looking for New Housing

July 7th, 2014

Most people realize that when they’re looking for new housing, there are certain factors that they need to consider, such as the size of the home and its location.  If they have a family, they probably want to make sure that the home is located near a good school, playgrounds and other facilities for children.  If they’re working, they need to make sure that their new home is not too far from work.  Plus, safety is also important; you need to check out the crime stats in an area before buying a home there.  However, many people fail to consider their long-term goals when looking for new housing.  Here are a few things you should ask yourself about your future before you buy a home:

  1. Where do I plan to be career-wise in the next 5-10 years? Buying a home is a lengthy and involved process, so it makes sense to live in that home for at least 5-10 years before you trade it in for something else.  This is why it’s important to consider where you plan to be, career-wise in the next 5-10 years.  Do you plan to stay at the same company?  If you think that you might switch jobs, is your new job likely to be far from your new home?  Are you considering working from home?  This will mean that you’ll need at least one extra room that you can make into a home office.  Sit down and think about where you plan to be career-wise in the future before you buy a home.
  2. Is my family likely to grow smaller or bigger in the next 5-10 years? In the unlikely event that you and your spouse haven’t really sat down to talk about having children, this might be a good time to do so.  If your family is likely to grow, you’ll need more space.  However, if your kids are about to go off to college, you’ll need less space.  You might think that it’s not a bad idea to have more space but keep in mind that the bigger your home, the more maintenance you’ll have to do.  So these are a few things to consider when buying a new home.
  3. Do I plan to make any lifestyle changes in the next 5-10 years? Maybe you’re tired of urban living and plan to start your own farm in the countryside.  Or maybe you’ve decided to start a charity or pursue social work.  Maybe you’re even thinking about going back to school.  Before you buy a new home, you might want to sit down and crystallize these future plans and buy a place that fits in with your vision for yourself.  Your new home should be a place where you can fulfill all your dreams.

Contact us for more tips on buying a new home.

 

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Builder “Two Southern California Projects are Announced”

July 2nd, 2014

In late June, two builders announced development on projects in the strong Southern California market. On June 23, Brandywine Homes announced that it had begun demolition on an 18-unit apartment project in Costa Mesa to eventually build 26 townhomes.

A week later, Presidio Residential Capital announced it had partnered with Williams Homes to build Phantom Trail, to build 29 single-family homes in Santa Clarita, Calif. Construction will begin in the spring of 2015, and a grand opening is planned for November 2015.

Both developments fill a need for supply in the hot Los Angeles market, which saw new and existing home closings fall in the first quarter but a 23.7 percent price increase over the first-quarter of 2013.

Read More >

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