Generation Y is Ready to Buy

Generation Y (Millennials) is Ready to Buy

Although Millennials face many challenges, including tight credit, limited inventory and high debt loads, this generation sees a home as a good investment, and comprises one-third of recent buyers. Millennials (also known as Generation Y) are the demographic age group following Generation X. Millennials are generally considered those whose birth years range from the early 1980s to the late 1990s.

Anaheim Hills CA Homes – Market Update for June 2014

Anaheim Hills, California: the median price for a single-family residence in June was $565,000 in zip 92807 (38 homes sold) and $726,000 in zip 92808 (19 homes sold). This represents an increase of 2.7% in 92807 and an increase of 14.9% in 92808 compared to the same month last year. The median price per sq. ft. was $318 in 92807 and $365 in 92808.

Orange County Real Estate
The median price paid for a single family residence home in June was $650,000, an increase of 6.6% over the same period last year. The total number of homes sold in June was 1,963 and the total number of condos sold was 893.

California Real Estate Market
Statewide, an estimated 39,254 new and resale houses and condos sold in June. That was up 4.0% from 37,734 in May 2014, and down 4.3% from 41,027 sales in June 2013 according to DataQuick.

Last month’s sales were 19.8% below the average of 48,929 sales for all the months of June since 1988, when DataQuick’s statistics begin. California sales haven’t been above average for any particular month in more than eight years.

The median price paid for a home in California this June was $393,000, up 1.8% from $386,000 the previous month and up 11.6% from $352,000 in June 2013. Last month’s median was the highest for any month since December 2007, when it was $402,000. June marked the 28th consecutive month in which the state’s median sales price rose year-over-year.

During the March-April-May 2007 period, the median sales price peaked at $484,000; while the post-peak trough in April 2009 dropped to a median sales price of $221,000.

Of the existing homes sold in June 2014, 5.8% were properties that had been foreclosed on during the past year. That was down from a revised 5.9% in May 2014 and down from 9.8% June last year. Foreclosure resales peaked at 58.8 percent in February 2009.

Short sales – transactions where the sale price fell short of what was owed on the property – made up an estimated 5.2% of the homes that resold in June 2014. That was down from an estimated 6.3% the month before and down from 13.9% a year earlier.

Average OC Lender Mortgage Rate
As of July 18, 2014, the 30-year fixed is 4.43 percent, and the 15 year fixed is 3.27 percent.

Escape Water Shortages With Xeriscaping

In many parts of the country, from California to Texas, green lawns of grass are not indigenous to the region. To make them work, you need copious amounts of water to keep them looking their best.

Non-native landscaping contributes to water shortages in some areas, resulting in strict watering restrictions, even in high-end gated communities such as Santa Luz in San Diego. The Santa Luz homeowners association requires that all landscaping is xeriscaped using only plants native to California.

Water shortages are growing. Nevada’s Lake Mead has reportedly dropped to less than 40 percent of its full level, reports Texas has reported drought conditions for the last three years.

How can homeowners help?

By adopting a concept called Xeriscaping. Xeriscaping is simply creating a landscape that features native plants that don’t require extra watering and are capable of withstanding native drought conditions.

While the look of a xeriscaped garden or yard of cacti and hardy shrubs is very different from the lush carpet of St.Augustine or Bermuda grass, you can easily create attractive arrangements that demand less water.

The key to a successful xeriscape is the same as any other landscape, and that’s paying attention to the site’s shape, size, slope, sun, shade, and other conditions.

Your goal is create a “compatible alliance among the garden, landscape, and natural world,” writes Gayle Weinstein, author of the Xeriscape Handbook.
Grasses, plants, and flowers that are “native” to your area can grow on the typical annual rainfall without additional watering needed. Additional benefits are less maintenance, fewer pests, and less fertilizer.

To start a xeriscape of your own, group plants and flowers with similar watering requirements in zones, so that any watering you need to do becomes more efficient. Add mulch to accent the plants and flowers, as well as to provide a healthy root environment, which also reduces the need for extra watering.

In some cases, artificial turf may be an option where it can be effectively used in small areas to accent flowers and plants.

Zoned areas may be broken up by walkways, berms (mounds), bits of turf, glass, walls, large boulders, river rocks, and other stones. The total effect can be quite beautiful.

No matter what part of the country you live in, you can adopt the principals of xeriscaping to create a more natural landscape for your home.