| Slice | Overall | Price | Sales | Forecl. |
|---|---|---|---|---|
| Beach | 34.1 | 30.5 | 64.2 | 20.4 |
| So. inland | 35.6 | 35.4 | 48.8 | 36.6 |
| No. inland | 41.0 | 41.5 | 40.1 | 42.4 |
| Mid-county | 52.3 | 55.9 | 22.8 | 61.1 |
Orange County’s beach-close communities still have the most overall housing zip, according to my Zippys rankings for 2008’s third quarter.
Zippys use DataQuick stats to measure relative neighborhood housing strength by weighing pricing and sales momentum plus foreclosure frequency in Orange County’s 83 ZIP codes. This chart details average Zippys rankings (1 = best; 83 = worst) for my four slices of Orange County, by overall rank plus pricing, sales and foreclosure rank!
So, how did your ZIP rank? CLICK HERE!
The 17 seaside ZIP codes that comprise that regional slice of Zippys rankings led all regions with the best average rankings for pricing momentum and foreclosure frequency. Still, the beach communities had the worst ranking for sales momentum.
That mixed picture shows when you note that Newport Coast took the biggest fall from the second quarter yet Seal Beach was ranked as the #2 zippiest market!
The 24 mid-county ZIPs has the worst overall Zippys rankings, but did lead the packing with the strongest sales momentum thanks to deep discounting drawing in a slew of buyers. But 5 Santa Ana ZIPs and 3 Anaheim ZIPs were ranked in the bottom 25.
Here’s a sample of what a million bucks bought you in the third quarter (click on photo for bigger photo and house details) …
Dove Canyon
Costa Mesa
Newport Beach
Fullerton
… and other real estate trends …
” Obama names newest puppy ‘Zippy’, Dow Soars “
And this is news/surprising because…?
Come on Blogger! In any given region, the zip code with the strongest RE fundamentals and lowest foreclosures will always be the one with the highest median incomes. Rich homeowners are less likely to use exotic mortgages because they don’t need it, and more likely to put in a larger down payment thereby precluding the likelihood of just “walking away” even if they could afford to stay. Most importantly, residents in these areas LOVE living there - what they’re going to walk away from their mortgage and move to Anaheim? Obviously, if they lose their job that’s a different story, but we’re talking voluntarily walking away from the loan - very unlikely in the Beach Cities.
I see a correction in these Beach Cities but not to the degree that we’ve seen inland.
Here is some news from a beach city…….I just noticed my two neighbor kids, both ’surfer looks’ digging through the ‘recycle’ barrels to get all the 5 cent returnables. The younger one would dive as the older one held the flashlight. Yes, the day the recession was announced, recycling became a means for kids to get spending money.