Oscar Orellana, Realtor

01/31/2023

California’s Tappable Equity Hit An All-Time High

Oscar orellana is a real estate agent with Luxe Homes California Real Estate. Check out Oscar orellana's listings or office listings.

01/27/2023

The latest mortgage rates are now 6.86%
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The refinance rate for 30-year, fixed-rate loans was 6.82%, flat from the prior day and rising 6 basis points from the last week. As for 5/1 adjustable-rate mortgages, which carry a fixed rate for five years that can then rise or fall each year after, the average was 5.49%, steady from the previous....

01/21/2023

One-third of California homeowners have no mortgage
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The priciest states for free-and-clear owners were New Jersey at $1,081, then Connecticut at $926, Massachusetts at $871, New Hampshire at $860 and New York at $813. The lowest costs were found in West Virginia at $1,071, then Arkansas at $1,147, Indiana at $1,195, Mississippi at $1,200 and Alabama....

01/14/2023

Southern California home prices fall for a 6th straight month – Orange County Register
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Southern California home prices fell for a sixth-straight month in November, wiping out most of the price gains achieved during the first half of the year. The median price of a Southern California home – or the price at the midpoint of all sales — dropped to $690,000 in November, up a mere $10,...

01/03/2023

Rapid interest rate increases continue to depress California home sales and prices in November, C.A.R. reports
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LOS ANGELES, Dec. 16, 2022 /PRNewswire/ -- Housing demand in California continued to fall as rising interest rates further dampened the state's housing market in November as home sales registered the lowest annualized pace since October 2007 and the largest year-over-year sales drop in at least the....

12/27/2022

Confused About What’s Going on in the Housing Market? Lean on a Professional.

If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply and more. That’s not an easy task considering how sensationalized headlines are today.

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market.

But it doesn’t have to be that way. Buying or selling a home is a big decision, and it should be one you feel confident making. To help you separate fact from fiction and get the answers you need, lean on a local real estate advisor.

A trusted expert is your best resource to understand what’s happening at the national and local levels. They’ll be able to debunk the headlines using data you can trust. And using their in-depth knowledge of the industry...

If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains:

12/27/2022

How can America avoid a recession?

Oscar orellana is a real estate agent with Luxe Homes California Real Estate. Check out Oscar orellana's listings or office listings.

12/26/2022

Expert Insights on the 2023 Housing Market

Wondering what housing experts are calling for in 2023 and how it impacts your plans? Let’s connect so you’re prepared for what’s to come in the new year.

12/24/2022

12/23/2022

Thank You for All of Your Support

Thank you for all of your support.

12/22/2022

The 2023 housing market will be defined by two key factors: inflation and mortgage rates. Where rates go in the new year depends on what happens with inflation. If you’re thinking of buying or selling a home, DM me so you have a trusted advisor on your side who can help you understand where the housing market is headed in 2023.

12/20/2022

Homeowners Still Have Positive Equity Gains over the Past 12 Months

If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices.

Equity is the current value of your home minus what you owe on the loan.

Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially.

And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that doesn’t mean you’ve lost all the equity you gained during the pandemic frenzy.

To prove you still have equity you can use, the latest Homeowner Equity Insights from CoreLogic finds the average homeowner equity has actually grown by $34,300 over the past 12 months.

While the gains aren’t as dramatic as they were in the previous...

If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates.