1. BUYING a house in Orange countY
Dan LaFranchi
(researching and Presenting – Speech #4)

2. Overview OC Population Current OC Housing Market
Tips/Steps to Purchasing a House in OC

3. Orange County Population
Population of Orange County in 1950: 210,000 people
What’s the current population?

4. OC POPUlation
3.2 Million

5. Current oc housing market
Median Price of Orange County Home [Feb 2012] = $390,000
[April 2017] = $675,000 (pictured)
[Oct 2017] = $710,000
The median price has risen continuously for the past 60 months
Orange County home prices are expected to rise 5-6%

6. Current oc housing market
Few Owners Putting Homes for Sale
Homes for Sale in = Only 27,550 Homes - (Lowest since 2013)
5800 Homes listed for Sale [May 2017]
9200 Homes listed for Sale [previous May Average for 13 years]
Too little of New Construction
Lagging behind demand
Low Inventory

7. Current oc housing market
You currently need to earn: $154,120/year to afford a median-priced OC home

8. Tips/Steps to purchasing a house in OC
1. Determine how much you’re willing to spend - Set realistic upper bound price limits - Don’t make an offer outside your range - Don’t race to outcompete higher offers - What mortgage payment are you comfortable with?

9. Tips/Steps to purchasing a house in OC
2. Do your research - Housing agents will capitalize on people showing lack of real estate competency

10. Tips/Steps to purchasing a house in OC
3. Check for Assistant Programs - In OC there are State/Federal Down-Payment Assistance Programs - First-time buyer Assistant programs

11. Tips/Steps to purchasing a house in OC
4. Get pre-approved - Getting a lender to pre-approve a loan before giving offers is more attractive

12. Tips/Steps to purchasing a house in OC
5. Pick the right agent -Referred to from family/friends - Keep in mind they work for you - Commissions are negotiable

13. Tips/Steps to purchasing a house in OC
6. Establish criteria for you house - Neighborhood - Don’t fall for the euphemisms (cozy, historic, etc)

14. Closing thoughts
The Orange County Housing Market is expensive but prices will continue to rise so the sooner you buy the better

15. References