• OC Housing Report: Top 5 Housing Trends

• Greenbrook Neighborhood Real Estate Update

• Real Estate Snapshot

• Why Not Take Advantage of this HOT Market?

• Friendly Reminder

• Did You Know?

• Street Sweeping August 2021

—The City of Fountain Valley is proud to an-

nounce the opening of the newest Ayres Ho-

tel. The hotel is located near the corner of

Brookhurst Street and Slater Avenue on the

former site of Safeco Insurance. The new

Ayres Hotel is a full service, 127 room all

studio suite hotel featuring transitional, up-

scale boutique decor. The hotel offers 87 king

studio suites and 40 two-queen studio suites.

An Asian Fusion restaurant named Fusion

Bites is also located

onsite. Ayres Hotels owns and operates a

collection of custom, European-style boutique

hotels throughout Southern California. The

hotel opened December 16 and will have it’s

ribbon cutting on January 16th.

—The Hyundai building should be completed

July 2021

GOING ON VACATION? HOME PROTECTION TIPS

•

A Monthly Insight Into Our Greenbrook, Fountain Valley, and Surrounding Area Real Estate Market and More!

Orange County Housing Report: Top 5 Housing Trends from Steven Thomas’ Reports on Housing

It seems as if everyone has an opinion about the future of the housing market. “It’s a bubble.” “The market has peaked.” “I am going

to wait for values to come crashing down.” “Housing will continue to be hot for a very long time.” In the end, there is way too much

noise that is not supported by facts, ignoring the data. It is time to look at the trends that have surfaced in 2021.

1. The number of available homes to purchase is finally starting to rise. The unprecedented, ultra-low inventory has been the

story for over a year now. Then COVID-19 made things worse when many homeowners opted to not sell their homes. Ultimately, that

led to this year’s anemic historically low level of available homes. In fact, today’s inventory is 64% less than the 5-year average of

6,702 homes (from 2015 to 2019 excluding 2020 due to COVID skewing the data). Yet, finally, now that summer has arrived with all

of its normal, cyclical distractions, the inventory is on the rise, adding 174 homes, up 8%, within the past couple of weeks. Look for

this throughout the summer months

2. Demand, the number of new escrows

over the prior month, is on the decline

after reaching a peak in early spring. De-

mand typically peaks between April and mid

-May. This year, it peaked at the very start

of April in OC. Many expect the market to

behave differently and ignore the seasons

because housing is so hot, yet society

seems to like its routines. Spring is the hot-

test time of the year in terms of demand. It

downshifts during the summer with the kids

out of school and vacations. Since peaking

on April 1st, demand has dropped from

3,110 to 2,906 pending sales, shedding

204, down 7%. The trend should continue

through the summer months.

3. Closed Sales are at its highest level

since 2005. Through the first five months of

the year, there were 14,469 closed sales.

Disregarding last year because COVID

skewed the data (35% fewer last year),

closed sales are up 22% compared to the 5-year average from 2015 through 2019, an extra 2,627. That’s the highest since 2005.

Demand continues to outpace prior years, 2021 will be the strongest year for closings since prior to the Great Recession.

4. Fewer homeowners are opting to list their homes for sale. This started last year with the onset of COVID, but dissipated and

reversed in August last year. Inventory reached a record low at the start of this year. Many homeowners waited on the sidelines while

their equity quickly grew. During the first quarter, there were 3% fewer homes compared to the 5-year average from 2015-2019. In

April, it was 10%, or 413 fewer. In May, 15%, or 641 fewer. In the first two weeks of June, it was off by 19%, or 405 fewer. This trend

will continue as long as the inventory remains muted and mortgage rates remain at historic lows below 3.5%.

5. Pressure is building for mortgage rates to rise, which will impact affordability and demand. At the first week of this year,

mortgage rates reached an all-time historic low, 2.65% according to Freddie Mac’s Primary Mortgage Market Survey®. It then

reached 3.18%, reversed course to below 3%, and remained below 3% until June 24th when it rose to 3.02%. It had remained at 3%

or lower for 8 straight weeks, but pressure on rising rates had been mounting with inflation readings climbing. Even though the Feder-

al Reserve has been stating that the inflation is “transitory,” or temporary, the U.S. economy is getting a lot hotter, and many are

coming to the conclusion that the Federal Reserve needs to slow down their stimulus. The best advice for buyers and sellers: Fol-

low an economic model that relies on facts and data rather than listen to all the noise.

2124 Main St, Ste 220, HB 92648

Kim Loiacano 714-318-4800 kimloiacano@verizon.net DRE #01447927

Joanne Kennedy 714-296-3340

jfksellshomes@gmail.com DRE #01332936

Greenbrook Neighborhood Realtors & Resident

With over 35 years of combined experience, let us assist you with all of your real estate needs.

Call us today for a free market evaluation of your home, or any real estate questions you may have. We are here to help!

*Based on information from the Assoc. of REALTORS® MLS. Data obtained as of 5/11/21 thru 7/11/21 and/or other sources. MLS does not guarantee, nor is in any way responsible for it’s accuracy. The report of residential home sales is not meant to imply that sales activity shown is that of the Broker/Agents providing the

information. Broker/Agents may or may not have been the listing and/or selling agents. If your property is currently on the market, please disregard. This is not meant as a solicitation.

Street Sweeping Dates:

August 2021

Friday, August 6th

Friday, August 20th

Reminder:

street sweeping is the

1st and 3rd Friday from

10:30 am to 2:30 pm

DID YOU KNOW?

Not only do Kim and Joanne sell homes in Greenbrook we are also involved in the community. Here are a few items we are

involved with:

Street cleaning reminder signs

HOA Social committee (Kim heads this)

Swim team sponsors, GO GATERS!

Garage sale organizers

Holiday Home tour

We love the neighborhood and enjoy giving back to

OUR Greenbrook community

Greenbrook Neighborhood

Real Estate Update*

Active—18241 Santa Sophia —Granada, 5 Bdrm 3 Bath, 2620

Sq. Ft. Upgraded and remodeled. List Price: $1,599,000

IN ESCROW—18487 Santa Alberta—Seville, 3 Bdrm 2 Bath,

1539 Sq. Ft. Remodeled. List Price: $1,050,000

SOLD—18385 Santa Yolanda —Spacemaker 1, 5 Bdrm 3 Bath,

2902 Sq. Ft. Sold Before Processing (Private Sale) Sold Price:

$1,100,000

Why Not Take Advantage of this HOT Market?

Many homes currently listed for sale are receiving multiple offers. Some buyers are even waiving the appraisal and short-ening their contingency periods. Have you been considering a

sale? Contact Kim and Joanne today to discuss how we can assist you.

The statistics presented in the Market Report are compiled based on figures and

data generated by IDC Global and Datafloat for the benefit of Realty ONE

Group West.

Friendly Reminder

Kids are out of school for the

summer so please be careful

when driving in the neighborhood