NAR Lauds Extension of Higher Loan Limits --Good News for all of us agents! - 10/30/09 02:01 PM
NAR Lauds Extension of Higher Loan Limits--Source: NAR (10/30/2009)
"The NATIONAL ASSOCIATION OF REALTORS® thanked Congress for speedy action in passing a congressional resolution yesterday that would extend the current higher Fannie Mae, Freddie Mac, and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits. "NAR commends both houses of Congress for their quick action in continuing these higher limits during a time for recovery in the housing market and national economy. The higher limits, along with the home buyer tax credit extension, are necessary to keep the … (0 comments)

SALES ARE UP IN VILLA PARK - 10/30/09 01:28 PM
October 28, 2009-Villa Park Real Estate Update
 Now what's happening in the city of Villa Park?
Sales in Villa Park are UP.  Lots more sales already in 2009 than in all of 2008!
As of October 28, 2009, there have been a total of 56 properties that are under contract or have closed in Villa Park in 2009-already 8 more than all of last year.
Of the 56 properties, 42 have already closed.
For the Closed 42 properties, the Average sales price is ($1,015,009/3602 sq. ft.) or  $281.79 per sq. ft.
 For just the month of September Ten sales in Villa … (0 comments)

Anaheim Hills Stats - October 2009 Summary - 10/30/09 12:28 PM
The following statistics include real estate transactions for Anaheim Hills as of Friday October 30, 2009.
 
Single Family Residences, detached, 92807 & 92808 - October 2009 Summary
 
Closed Transactions 10/1/09-10/30/09: 17
Average Closed Price: $707,911
Average Sq.ft.: 2,666
Average DOM: 56
Average $/sq.ft.: $265.53
 
Properties into Escrow 10/1/09-10/30/09: 27
Average Listed Price: $787,992
Average Sq.ft.: 2,882
Average DOM: 73
Average $/sq.ft.: $273.42
 
Condominiums, attached, 92807 & 92808 - October 2009 Summary
 
Closed Transactions 10/1/09-10/30/09: 13
Average Closed Price: $362,230
Average Sq.ft.: 1,366
Average DOM: 39
Average $/sq.ft.: $265.18
 
Properties into Escrow 10/1/09-10/30/09: 13
Average Listed … (0 comments)

What is Going on with Foreclosures? - 10/30/09 12:27 PM
According to recent announcements by the U.S. Treasury Department and other lender tracking institutes, another wave of foreclosures is on the way in 2010. For over a year, now, we've been digesting foreclosures and distressed properties and it looks like we'll all be doing it for another year or so. It's too large a market segment to ignore: in some parts of the country, distressed properties account for about 65% of sales these days.  In our market, below $500,000, foreclosures are selling at 103% of the listed price. 
 
The foreclosure craze breaks down to this -everyone wants a bargain.   … (0 comments)

Anaheim Hills Stats - October 23, 2009 - 10/23/09 12:52 PM
The following statistics include real estate transactions for Anaheim Hills as of Friday October 23, 2009.
 
Single Family Residences
Total Homes on the market, detached and attached is 105
All other statistics for Single Family Residences are for detached homes only
 
Median List Price:
92807- $742,000 with the average price being $1,325,423
92808- $820,000 with the average price being $1,227,614
Total Houses Available for both zip codes: 91
 
Least Expensive:
$438,000 for a one-level home of approximately 1,923sq.ft. off of Riverdale and Tustin.  This 5BR, 2BA was built in 1967 and sits on a lot of 6,720sq.ft.  Two-car … (0 comments)

More Trends: Bargains today in the real estate market: - 10/23/09 12:44 PM
Last week we addressed some of the things you as a buyer can expect in the upcoming real estate market.  We talked about the low end, buyer incentives going away, low inventory and market competition.  If you really want a bargain today, it will most likely be in the high end, and you'll have to have to remember that Cash is King, big down payments are preferred, and a loan pre-approval is a necessity.  You must have all of your ducks in a row.
 
Jonathan Lansner of the OC Register reported, using statistics from Steven Thomas, that the high end … (1 comments)

Villa Park Rotary Newsletter October 22, 2009 - 10/23/09 10:56 AM
… (0 comments)

Recovery more rapid than expected--UCI prof. Vandell says - 10/20/09 12:40 PM
As far as Blame for the Economic and Real Estate Meltdown, no one walks away free.  All of the above listed were a part of the problem and certainly the Federal Government for it's loose policies on home ownership is a big culprit.  In addition and an important element is Basic human greed, which was left  out of the equation.  In reality, everyone wanted to jump on the band wagon, buy a house to have appreciation and a cash cow.  People couldn't wait to buy one house, re-finance after a year, buy anohter (or a Hummer, pay for college, take a … (2 comments)

15% price cuts move million-dollar O.C. homes - 10/19/09 09:51 AM
My comments to the OC Register Headliner by Jon Lansner (Johnathan Lansner) & Jeff Collins,
To read the article go to http://bit.ly/4mnJTZ
There are no more bargains below $500,000.  The foreclosure inventory is now at about 4%, and properties listed below $500,000 ar getting multiple offers and often the prices are bid up--especially since we've have the convergence of the $8,000 tax credit (that goes away the 30th of November), low interest rates, and low prices.    The bargains right now are in the high end.  And, there are always some people who simply have to sell. 
The most recent statistics are … (0 comments)

Seller Optimism Causing Price Climb - 10/16/09 07:19 PM
Lesslie Giacobbi This is an interesting article and take on the market. When you read it remember there is no distinction as to price range. Because of the low inventory, low interest rates, and an $8,000 tax credit for first time buyers, the low end is going up. Not true for high end at all.
 Seller Optimism Causing Price Climb Despite the recent market decline, Americans are still willing to borrow a large amount of money to buy a home because they are convinced that housing values will rise, writes Robert J. Shiller in his monthly New York Times column.Shiller, professor of … (2 comments)

Villa Park Rotary Newsletter - 10/16/09 06:31 PM
… (0 comments)

Lane's Active Rain Ambassador Series - Part I... Your Profile - 10/16/09 04:05 PM
This is good advice for everyone.  Thanks for sharing it.
Lesslie
Via Lane Bailey - REALTOR & Car Guy (Diamond Dwellings Realty):
One of the very first things a new member to Active Rain should do is "tune their profile".  In order to wring the most performance out of it, we have to make sure it is optimized... 
Here are a few things we are optimizing for:
Keyword rich, location and niche specific content (for Search Engine Optimization... SEO) Reader friendly layout (pictures... tagged of course, for SEO) Rich media presentation (more tagged pictures as well as video... excellent for SEO) Testimonials.  Consumers … (2 comments)

Anaheim Hills Statistics - October 16,2009 - 10/16/09 12:39 PM
The following statistics include real estate transactions for Anaheim Hills as of Friday October 16, 2009.
 
Single Family Residences
Total Homes on the market, detached and attached is 107
All other statistics for Single Family Residences are for detached homes only
 
Median List Price:
92807- $772,450 with the average price being $1,385,004
92808- $820,000 with the average price being $1,217,181
Total Houses Available for both zip codes: 91
 
Least Expensive:
$429,900 for a one-level home of approximately 1,470sq.ft. off of Riverdale and Lakeview.  This 3BR, 2BA was built in 1965 and sits on a lot of 8,400sq.ft.  Two-car … (0 comments)

What Real Estate Changes to Expect! - 10/16/09 12:36 PM
I've heard that the real estate market has really changed and will continue to change, what are some of the things I can expect?
 
Wow!  What a question!  Here are just a few important items or trends to be aware of:
 
This year first time buyers drove the market.  With the $8,000 tax credit offered to first-time purchasers, and low interest rates, mortgage applications soared.  Right now-this week, interest rates are being quoted (for good credit) at 4.5-4.75 %--phenomenal rates! 
The change:  The $8,000 tax credit goes away the 30th of November, and it's doubtful if anyone can take … (4 comments)

September 2009 Real Estate Active in Orange, CA - 10/13/09 04:47 PM
September 2009 Sales in Orange 
$500,000-$1,000,000 
For just the month of September in the city of Orange, in the price range $500,000-$1,000,000The active inventory is 112 properties, with the average price atAverage List Price /$ per sq. ft.:    ($709,481/2480 sq. ft.) or $286.08 per sq. ft
Between the price range of $500,000-$1,000,000 there are 39 properties that went under contract.
 
There are 15 properties in "Back Up"- Average List Price /$ per sq. ft.: ($709,481/2541 sq. ft) $286.08 per sq. ft.  
There are 20 properties in "Pending Sales" (Contingencies Removed) Average List Price /$ per sq. ft.: ($650,100/2436sq/ … (1 comments)

Holiday Season Prediction for Real Estate 2009 - 10/13/09 04:06 PM
In reference to your Anaheim Hills Summer Sales report from 10/8/09, we were happy to see the increase in number of sales.  What is your prediction for the market in Anaheim Hills this Holiday season?  Who should act fast; sellers, buyers or both? Thanks, Bobbie S.
 
Hello Bobbie, The best prediction for the Anaheim Hills market is based on what is happening right now.  Inventory is VERY low, interest rates are very low, and the buyer's tax credit of $8,000 is going away. 
 
Interest rates:  Are very low and there are many buyers who really want to buy, but … (0 comments)

Villa Park is Hot! Ten properties under contract in September 2009 - 10/13/09 06:51 AM
Sales in Villa Park are UP.  More sales already in 2009 than in all of 2008!
As of October 2, 2009, there have been a total of 50 properties that are under contract or have sold in Villa Park in 2009-already 2 more than all of last year.
Of the 50 properties, 36 have already closed. For these 36 properties, the Average sales price is ($1,013,483/3583 sq. ft.) $282.86 per sq. ft.  
For just the month of September Ten sales in Villa Park were reported.
There are 4 properties in "Back Up"- Average List Price /$ per sq. ft.: (928,125/3043 … (4 comments)

Villa Park Rotary Newsletter for October 1, 2009 - 10/05/09 06:21 PM
… (0 comments)

Villa Park Rotary Newsletter of Sept. 24, 2009 - 10/02/09 12:09 PM
… (0 comments)

Villa Park Rotary Newsletter of Sept. 17, 2009 - 10/02/09 12:04 PM
… (0 comments)