This spring to summer transition has been a pretty good one for Orange County real estate, we’ve seen some of the prices stabilize as well as even increase here and there.  Buying power has largely improved with a growing buyers market and a lot more mortgage loans being brokered as people have been able to gain a foothold with their credit scores and financial situations.

Some of the largest beach front hotel transitions have occurred this year around Orange County.  A total of four hotels have changed ownership and the deals have been pretty large and influential on their respective cities.

The Irvine-based hotel consultants sales found these 2011 sales in Orange County:

• Residence Inn in Anaheim sold for $40 million.
• Hyatt Summerfield Suites — formerly Woodfin Suites — in Cypress sold for $19 million.
• Magnuson Hotel in Anaheim — formerly a Holiday Inn Express — sold for $4 million in a foreclosure sales.
• Hilton Suites in Orange went back to lenders, in a distressed property transaction. Terms were not readily available.

Statewide, Atlas found a hotel shopping rebound, “nothing short of amazing, as the market has come roaring back” …

• Total dollar volume of hotel sales up 354% in 2011′s first half vs. a year earlier.
• Number of individual sales up 90% vs. ’10.
• Average price‐per‐room up 31% in a year.
• Northern California’s average price‐per‐room in sales jumped 35%; Southern California is up 23%.

We are expecting a much stronger 2012 for real estate sales and purchases throughout all of Southern California.  We have seen major increases in buying power from San

Newport Beach locations

Diego to Los Angeles and many homes are finding 2004 and 2005 like prices, showing clear cut improvement in our markets.  Of course the hotspot this year were the beach cities, beach locations account for almost 1/2 of the improved sales and home prices, there’s no better solution for a slow market than location, location, location.

463 homes sold in beach cities’ 17 ZIP codes in the most recent period, +5% from a year ago. This is the only slice of O.C. with sales gains. Median selling price? $700,000 in these 17 ZIPs. Median price change was +2.7% vs. a year ago.

Definitely some positive figures for next year’s real estate market.  If your a holding owner and looking to sell, try to hold off for 2012 as we may see a nice increase in prices throughout all cities, especially if your located in a beach city like Huntington Beach, Newport Beach, San Clemente and more.

Interest rates have changed recently sending thousands and thousands of Orange County homeowners in for refinancing and loan adjustments.  Make sure to look at an appraisal for your property if you are interested in saving some money and often times, bettering your finances through a qualified refinance.