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home ownership economics: First Time Homebuyers Should Get Going Now ~ Take Advantage of the $8,000 U.S. Income Tax Credit - 06/01/09 04:58 PM
FOR YOU FIRST TIME HOMEBUYERS ~ NOW IS THE TIME TO GET MOVING WITH YOUR HOME PURCHASE.
Rules and guidelines ~ American Recovery and Reinvestment Act of 2009 ~ for the US First Time Homebuyer Income Tax Credit.
This credit is available to a first time homebuyer, an individual who has not owned a home in the three year period prior to the purchase. Eligible buyers must buy a principal residence - new or resale, on or after January 1, 2009 and before December 1, 2009. The purchase date is defined as the date of closing and property title transfer. The tax credit is equal to 10 … (2 comments)
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home ownership economics: Housing Market Update ~ Irvine, CA ~ April 15, 2009 - 04/15/09 04:08 PM
With some of the best residential neighborhoods and homes at South Orange County, Irvine is located next to Newport Beach, Laguna Beach, Newport Coast, and within a 10 minute drive of the Pacific Ocean at Crystal Cove.
Irvine is famous for its pleasant weather, lots of sunshine, excellent and award winning public schools, healthy business climate with good job opportunities, the University of California Irvine, encouragement for business and development, diverse backgrounds of residents, celebration of freedoms, places for worship, and one of the safest cities in the United States.
As of today, April 15, 2009 ~ there are 743 homes listed for sale at Irvine ... with average list price of homes is $690,375 ... with average time on the market of 87 days. … (1 comments)
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home ownership economics: Improved Home Affordability ~ at The OC, California - 04/15/09 10:28 AM
Some people say that HOME AFFORDABILITY is the crucial factor on whether and when we will have a rebound in the Southern California housing market.
Jon Lansner reported on April 14, 2009 ~ OC home affordability back at 2001 level ~ citing experts of local experts who said that the monthly cost of homeownership has fallen signficantly from the peak in this cycle, and that's because of decline in home prices, the decline in mortgage rates and increase in incomes.
Better home affordability is possibly also because of income tax credits offered for first time homebuyers.
This improved home affordability during recent months has inspired some buyer and consumer confidence in real estate having true value.
Our recent experience while … (1 comments)
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home ownership economics: Foreclosure Alert For Renters ~ by RealtyTrac.com ~ Help For Tenants - 04/01/09 03:23 PM
RealtyTrac (www.realtytrac.com) announced today its launch of a new service called RealtyTrac Renter Alerts (www.renters.realtytrac.com). RT says that this fee based service ... will provide tenants and renters ... with advance notice when the property they are renting enters into default ... or is about to be foreclosed by a lender.See the article ~ "Foreclosure Alert for Renters" ~ at OCRegister.com.
Let's encourage our friends and clients who are renters of homes to be aware of this RealtyTrac.com service ... and some possibility that a renter can lose his home, place of rental living, and perhaps security deposit .. in a foreclosure situation.
If you want information about Orange County, … (2 comments)
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home ownership economics: Government's Economy Stimulus Policy 2009 Should Include Creation and Protection of Jobs for Legal Residents - 03/12/09 06:04 PM
At least part of our GOVERNMENT's POLICY should be to PROTECT LEGAL RESIDENTS of the US and help them get jobs that are and will be offered as a result of the US Economy Stimulus Spending Plan 2009.
USA Today reported on March 8, 2009, that "Illegal Immigrant Might Get Stimulus Jobs, Experts Say".
That would be troubling. Government should protect legal residents of this country who want and need these jobs. Why? Because it's the right thing to do and will help our economy and the real estate industry too.
Good jobs will be created by the US govt. economic stimulus … (2 comments)
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home ownership economics: Any Help For Real Estate? ~ US Govt Official Estimate of Effects of Spending Plan 2009 - 03/04/09 03:33 PM
The US Government doesn't expect much help for homebuyers and homeowners from the recently passed SPENDING PLAN 2009.
Check out the ...
US Congressional Budget Office publication, year by year estimate of economic effects of the SPEND PLAN, the American Recovery and Economic Investment Act of 2009 .... (ARRA, public law 111-5, which was enacted February 17, 2009).
If you are smarter than I am and can see from the March 2, 2009, US government letter and publication ... that there will be some significant help for real estate, please let me know. Thanks.
Also see the Widipedia.org explanation of the actual American … (0 comments)
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home ownership economics: California Homeowners Will Benefit Less Than At Other States From US Govt. Spending Plans - 02/26/09 03:17 PM
What do you see as benefit for California homeowners in the US Government Spending Plans 2009?
I believe that homeowners in California and other high cost housing markets won't benefit as much as those in other states ... from the US Government Spending plans 2009.
The US Government's help provisions 2009 involving mortgage relief apply only to those held by Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac loans were previously only up to a maximum of about $417,000. The limit was temporarily raised to $729,750 in 2008. But fewer people were buying. This year in 2009, the limit returned to $625,000.
… (6 comments)
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home ownership economics: For Homebuyers & Homeowners ~ Income Tax Help in Recent Government Spending Bills - 02/24/09 01:54 PM
LOOKING FOR INCOME TAX HELP FROM THE GOVERNMENT?
If you are a first time homebuyer during 2009 ... or if you are a homeowner ... you will find some possible government help with income taxes in the recently enacted GOVERNMENT SPENDING BILLS 2009.
FOR HOMEBUYERS ~
If you are thinking about buying a home ...
The new U.S. income tax credit of up to 10 percent of the value of the home (depending upon sale price) ... benefit up to $8,000 ... for home purchased during 2009.
This is encouragement for you to buy a home.
If you buy and live in that house for … (2 comments)
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home ownership economics: Irvine, CA ~ Fannie Mae owned REO Homes For Sale & Special Financing Available - 02/12/09 01:37 AM
Fannie Mae is getting smart and offering special financing on its REO BANK OWNED HOMES at Irvine, California.
326 TANGELO - $194,900
127 BRIARGLEN - $324,900
29 ALICANTE AISLE - $265,000
33 COSTA BRAVA - $329,999
Check out the Fannie Mae special financing opportunities on its REO homes at HomePath.com.
Fannie Mae guidelines on these REO homes ~ 97% loan with three percent down for owner occupied financing with no mortgage insurance.
Check it out that Fannie also offers special financing for investors who want to buy its REO homes.
FHA guidelines ~ Down payment of 3.5 percent. Also require some of loan amount to be … (2 comments)
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home ownership economics: We Need a US Economic Stimulus Package 2009 With Significant Housing Element - 02/10/09 04:02 PM
HOUSING AND REAL ESTATE IS A CENTRAL ASPECT OF OUR US ECONOMY.
The Senate today passed its version of the proposed US ECONOMY STIMULUS package 2009 with provisions that are consistent with a housing plan that Realtors have advocated.
Our US economy ... consumers, taxpayers, homeowners, homebuyers, and the real estate industry ... need some things to be confirmed as part of this bill before its presented to President Obama for his signature:
First: The $15,000 first time home buyer inome tax credit (not just a loan) to be made permanent.
Second: Permanent FHA, Fannie Mae and Freddie Mac loan limits up to … (14 comments)
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home ownership economics: California Protects Home and Property Owners Who Are In Default - 02/04/09 10:05 AM
California has law for protection of homeowners who are in default on their loans.
Home Equity Sales Contract Law, Civil Code 195 et. seq.
California real estate licensees must be prepared and know this law, carefully reviewing its provisions. Agents and licensees must familiar with and use essential forms prior to even discussing the possible representation of a seller who is default ... or a buyer who wants to present offer for such a property.
The intent of this Home Equity Sales Contract Law was primarily to protect homeowners in default ... and provide them with information to make informed, intelligent decisions.
This law applies only if all four of the … (7 comments)
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home ownership economics: Fannie and Freddie Should Further Extend Time Suspensions on Foreclosures - 01/10/09 09:51 AM
It will help troubled homeowners and our USA economy in general if Fannie Mae and Freddie Mac extend even further their time and suspension of foreclosures.
What good does it do to kick people out of their homes and move forward with increasing foreclosures when the real estate market is in the process of absorbing the distressed properties we now have?
If a home loan borrower is in trouble .. either from evaporated equity or from resetting interest rates on ARM loans ... Fannie and Freddie should suspend foreclosure one month at a time ... as long as somebody … (14 comments)
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home ownership economics: Costa Mesa, CA - Market Report for Homes & Real Estate - January 1, 2009 - 01/02/09 10:07 PM
LOCAL HOUSING MARKET REPORT -- JANUARY 1, 2009
There are 74 attached condo Costa Mesa homes now listed for sale, with an average for those of 131 days on the market.
5 of those 74 attached homes are REO lender owned. 29 of those 74 homes are "short sale not yet lender approved". (So 39 percent of these homes on the market are short sale where owners have no equity).
There were 18 attached condos sold in Costa Mesa during December 2008.
There are 152 SFR detached Costa Mesa homes now listed for sale on the market, with an average of 106 days on the market (SOCAL … (3 comments)
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home ownership economics: Are FHA Loans Expected To Provide Significant Help For Homebuyers in 2009? - 12/29/08 12:17 PM
Some business folks and real estate professionals believe that FHA loans will be primary and good help for homebuyers during 2009.
But there have been changes, and the new down payment requirement for FHA loans will be 3.5 percent (not 3 percent) as of January 1, 2009.
Prior to January 1, 2009, the borrower needed 3 percent down payment from their own money. A question was what part of that 3 percent went for down payment and what part of thatwent for closing costs. Not all states and localities handled this the same.
As of January 1, 2009, the 3.5 percent FHA loan down payment requirement (from borrower's own money) is to be in every … (5 comments)
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home ownership economics: Will We See California Home Mortgage Rates As Low As 4 Per Cent? - 12/18/08 12:44 AM
When the FED (US Federal Reserve) dropped the 10 year treasury rate to 2.18%, we all know that's amazingly low.
The OC Register reported that the Federal Reserve "pulled out all stops, lowering already low key interest rates to about zero. Lower rates by the Fed could help fend off deflation."
Is it possible that 30-year conforming mortgage rates in California could come down to 4 percent?
Conforming mortgage rates in California are now as low as 4.5 percent (plus one point) with some lenders (plus costs & adds if requested).
Mortgage rates have not and probably won't fall as much as treasuries, because of shorter term and higher liquidity of treasuries.
Will the US Treasury … (8 comments)
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home ownership economics: SUPPORT THE NATIONAL ASSOCIATION OF REALTORS FOUR POINT ECONOMIC STIMULUS PLAN AND URGING FOR US CONGRESS ACTION - 11/14/08 01:04 PM
We support the National Association of Realtors and its Four Point Economic Stimulus Plan and urging US Congress to Act (November 14, 2008).
The Four Point Plan
The most recent economic stimulus bill, the US Emergency Economic Stabilization Act, was a good first step towards stabilizing our nation's economy.
Unfortunately, a number of the Act's provisions have not proven to be as useful at stabilizing the nation's housing markets as was first thought.
Congress may consider second economic stimulus bill this month. If they do, there are a number of changes that could help to provide more stability to the … (3 comments)
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home ownership economics: INVESTORS - ARE YOU LOOKING FOR AN EASY WAY TO SAVE TIME AND MONEY ON RENTAL PROPERTY MANAGEMENT? - 11/06/08 11:06 AM
If you are an investor, you might be looking for an EASY AND FREE way to SAVE TIME AND MONEY on your rental properties.
Try using these tools that provide services and FREE PROPERTY MANAGEMENT SOFTWARE through Trex Global.
It's Simple and Easy Property Management Software, and it's FREE. Easier than spreadsheets and financial software. Save hours of time and eliminate the tax season headache.
After you check this free web based property management software out, please let us know what you think. Thanks.
If you are interested to buy and sell investment real estate in Southern California, contact us. Otherwise, do your search for homes at BUYERS EXPLORE HOMES (click here).
… (0 comments)
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home ownership economics: TURTLE ROCK VILLAGE - IRVINE, SOUTH ORANGE COUNTY, CALIFORNIA - 10/20/08 12:31 PM
TURTLE ROCK VILLAGE is a special place ... beautiful and most popular area of Irvine and South OC.
It's located in the rolling hills about 20 minutes to the east from the Pacific Ocean and Corona del Mar. Turtle Rock is made up of 23 different residential communities and 3,481 SFR detached and condominium homes.
Broadmoor Turtle Rock homes; Campus View Broadmoor homes; Concordia homes by Fieldstone; Crest Akins homes; Crest homes by Standard Pacific; Glen Garden Homes by Irvine Pacific; Glen Patio Homes by Broadmoor; Glen Townhomes Irvine Pacific; Highlands Garden by Bren; Highlands by Lusk; Highlands Townhomes Akins; Ridge Townhomes Akins; Hills President by Anderson & Middlebrook; Turtle Rock Pointe … (6 comments)
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home ownership economics: Why You Need to Have a Working Understanding of the Olfactory Sense as a Home Seller - 09/29/08 11:10 AM
Jason Crouch, Realtor and blogger at Austin, Texas, wrote this fun article about WHY YOU NEED TO HAVE A WORKING UNDERSTANDING OF THE OLFACTORY SENSE AS A HOME SELLER. We enjoyed this and are sharing it with you. You can visit with Jason at www.austintexashomes.com.
Via Jason Crouch, Broker - Austin Texas Real Estate:
I remember doing a paper in college about the olfactory sense, which is the technical name for our sense of smell. The olfactory sense is generally believed to be the most closely linked to your memory, and it is some 10,000 times stronger than your sense of taste. Also, certain scents will … (4 comments)
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home ownership economics: HOME DEPOT PLANS TO OPEN ITS 23RD STORE IN ORANGE COUNTY, CA - 09/26/08 07:34 PM
The HOME DEPOT announced plans on September 25, 2008, for the opening of its 23rd the OC store in Huntington Beach, which is scheduled for October 30, 2008.
We see this as a significant sign that Home Depot and the retail industry are enthusiastic about the future of development and building supplies in Orange County.
The new Home Depot store at Magnolia in Huntington Beach will be about 126,000 square feet, including a garden center. This new store will employ 180 workers and will be the second Home Depot in Huntington Beach.
The Home Depot spokesperson said: "We continue to open new stores where it makes sense for our business and … (6 comments)
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Harrison K. Long, business, REALTOR®, GRI, Broker
Irvine,
CA
More about me…
Explore Group, Coldwell Banker Previews, Irvine, South OC
Address: 6833 Quail Hill Parkway, Irvine, CA, 92603
Office Phone: (949) 854-7747
Cell Phone: (949) 701-2515
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