Tips to stay off the "Phishing hook"

I just received an article on how to avoid some of the common ways identity theft occurs over the internet.  If you haven't heard it before "phishing" is a word derived from "password harvesting fishing" and the idea is that the perpetrator is "fishing" for information.  A typical scenario involves what looks like a authentic email asking the recipient to verify account information.  Internet users respond with the requested info and are actually giving thieves the tools to access their online accounts!  Here are some tips to avoid/spot these emails!

!.  NEVER respond to unsolicited requests for account information

2.  Don't follow links sent to you via e-mail to access your accounts.  Go DIRECTLY to the account provider's secure website!

3.  Check your account regularly to look for suspicious activity.

4.  Be suspicious of POOR spelling and grammar in the subject line or message.

5.  Watch out for a Web address that contains a familiar company name but also has DASHES or UNDERSCORES in the address.

I hope the info helps you to stay SAFE ON THE INTERNET!  I'd love to help you as usual with any/all of your Orange County, California Real estate needs!  Feel Free to contact me directly at 800-845-8588 or via email at reynolds@socal.rr.com.   My web address: lindareynolds.com.  Have a great weekend!

Linda Reynolds

What's happening in Orange County Real Estate: Market Update

July 2008 MORE HOMES ARE SELLING TODAY! The big story for the Orange County real estate market is that the pace of closed sales has accelerated! According to residential resale data, there were over 220 additional closed sales in Orange County, 11% stronger than last year. We have had a slow, continual increase in demand over these first six months. Fantastic news! The market has been aided by the increased conventional and FHA loan limits and enormous improvement in home affordability. Right now Congress is looking to create a temporary first-time home buyer tax credit, increase the conventional and FHA loan limits permanently, and expand the FHA program to provide additional authority to refinance at-risk homeowners and help prevent foreclosures. BUYER DEMAND IS HIGHER! Today’s demand, the number of homes placed into escrow within the prior month, is now at 2,682 homes. That demand is 51% better than 2007 and 26% better than 2006. The bottom line is that demand is much healthier today due to increased home affordability and the wave of first time home buyer activity. HOMES ON THE MARKET ARE SELLING FASTER! During the summer months, the active real estate inventory typically grows. In the last two weeks, the active inventory has dropped by 139 homes, bringing the total to 14,701, the lowest point of the year. Last year, there were 2,633 additional homes on the market. The expected market time TODAY is now approximately 5 ½ months. The expected market time was at 9.73 months last year and 7.2 months two years ago. A major improvement in my book! WHAT ABOUT FORECLOSURES & DISTRESSED HOMES? The distressed homes, foreclosures and short sales, grew by only 7 homes in Orange County in the past two weeks and remains at 40% of the overall active inventory. (Yes, that’s right, I said 7 homes! ) For those looking for a distressed property “deal,” remember that lenders are in the driver’s seat and there is tremendous competition with multiple offers and homes fetching above their asking price. I was just informed of a large home in Ladera Ranch that was grossly under priced as a foreclosure. After procuring a hoard of offers, the home is now a pending sale for a ridiculous amount over the asking price. In essence, the agent and lender created a “mini-auction” on their home with a successful outcome. IF YOU ARE A SELLER, HOW DO YOU COMPETE? The secret to success is a great price and great condition. As a seller, the danger of overpricing is that as prices drop, there are only two options: chase the market and drop the price or pull your home off the market. To avoid chasing the market down in price, CAREFULLY arriving at the initial asking price is CRUCIAL. Lower price ranges are subject to increased competition from foreclosures and short sales. However, non-distressed home sellers have a way to differentiate from most distressed properties, condition. Most foreclosures and short sales are in poor to average condition. Non-distressed, traditional home sellers have the ability to showcase their homes in move-in condition. A home that is clean from top to bottom with lush green landscaping, a fresh coat of paint and even new or newer carpeting stands out. Distressed homes often have dead or no landscaping and are in need of many cosmetic fixes. Most buyers require a major discount in price to compensate for the trouble to fix up a home. Sellers need to be in tune with the changing market conditions and strategically position their homes for success. This is a terrific year for investing! Please let me know if you are interested in real estate, have questions, or are just curious as to what’s out there. I’m here to help when you need me! Direct 1-800-845-8588, reynolds@socal.rr.com www.lindareynolds.com. Linda Reynolds

Going green in your home!

I was watching some HGTV this week and learned they are having a "green week" where various popular shows showcase a "go Green" theme.   I just watched a "Designed to Sell" where they did a fabulous home makeover using recycled and eco-friendly products.  I was amazed and really enjoyed seeing the transformation where they added countertops made of recycled materials, used linens made of a bamboo/cotton blend, painted with special environmental friendly paint, and even added a gorgeous backsplash tile made of recycled aluminum and glass.  It was wonderful to see the changes and know they helped the environment.

Anyone who knows me understands that I am always interested in protecting our environment and staying as "green" as possible.  It's great to see channels like HGTV really making a big effort to make a difference.  I'll be watching more if I can this week for more great ideas!

If I can help you in any of your real estate needs, please contact me at 800-845-8588 or email me at reynolds@socal.rr.com.  As always, my web address is www.lindareynolds.com for more information. 

Regards,

Linda

first time buyers, short sales, bank foreclosures

Well, this month has been an active one for me! Everything from an all cash transaction for a beautiful home in Huntington Beach to a great deal for a first time buyer! The great buy was a bank foreclosure on a condo in Mission Viejo. My client is the daughter of a past client. The good news is now she could buy because prices have softened enough. As a matter of fact, the market has opened up enough for buyers who couldn't buy before that there is a silver lining to this market. A big silver lining!

Short sales....don't hold your breath if you found your dream home and it is a short sale! Only 1 out of 5 actually close. The short sale I negotiated and closed was one that was already approved by the lender. Don't be fooled; these deals are treacherous! 

My recommendation...get out there and buy now!! Rates are going up and the market is firming up especially for entry level properties!!  

4th of July Celebration by the Pier!

Are you looking for something fun and free (with gas prices the way the are, who isn't?) to do for The Fourth of July?  Check out the Pier Plaza Expo.  They will have a pancake breakfast, a 5K run and a fitness expo.  It runs 6 am till 9:30 pm on July 4th at Pier Plaza.  It's located at Main St. and PCH.  The admission is free, although some events and activies are extra.  You can contact 714-374-1535 for more information.  Hopefully the good weather lasts and you can enjoy the day at the beach!  Have a wonderful July 4th!!!

You can also contact me at 800-845-8588, via email at reynolds@socal.rr.com or on my website at lindareynolds.com.  I'm here for all of your real estate needs!

Linda

Free concerts in Huntington Beach this summer at Pier Plaza!

Just a reminder to everyone about the FANTASTIC summer concerts that Huntington Beach puts on in downtown at Pier Plaza (located at Main Street and Pacific Coast Highway).  All the concerts run from 1-3 pm.  You are right down at the pier and have a gorgeous backdrop to listen to some great music and culture! Some of the concerts include the Young Dubliners (celtic rock and roll)on June 15th, Cumbeley (cumbia) on June 22nd, Zydeco Patrol (zydeco) on July 13th, and Derryl Perry (country) on July 20th.  Definitely something worth checking out for free!  For more information you can call 714-536-5486 or check out www.surfcityusa.com.

Please check out my website or email me for all your real estate needs.  www.lindaryenolds.com, lreynolds@socal.rr.com.  800-845-8588. 

 

Linda

 

A new listing in Garden Grove with a great floorplan!

Reverse mortgages and converting equity for homeowners!

I was asked recently about reverse mortgages by one of my clients.  It is something that many homeowners aren't aware of that retired homeowners can take advantage of.   Here's how they work:

A reverse mortgage converts equity into income.  It's called a reverse mortgage because instead of making payments to a lender every month, the homeowner receives money in regular payments or a lump sum.  A reverse mortgage for people 62 and older, is best for those who have CONSIDERABLE equity in their homes.  The reverse mortgage provides additional cash when income might be limited to a pension or social security benefits.  Plus, the funds may be spent on ANYTHING from medical expenses to that vacation you've always wanted!  Also, if your parents prefer that you/and or any siblings inherit the home, this can be arranged by repaying the reverse mortgage balance when your parents both permanently leave the home.

If you would like more information on reverse mortgages or any other real estate related matter, please feel free to contact me at 800-845-8588 or reynolds@socal.rr.com.   You can also visit my website at lindareynolds.com for more information on real estate, searching the MLS or find out more about me!

Have a great weekend!

Linda Reynolds

WALK TO THE BEACH! 3 Bedroom single family home!

FHA Loans offer great deals, rates, programs today!

I've recently been updated on some exciting changes to FHA and their loan programs.  In Orange County, they really offer some great alternatives to traditional loan programs.  FHA (Federal Housing Administration) Loans offer a lot of advantages to buyers.  Here are some of the key points!

1.  NEW loan limits in Orange County up to $729,750.  The median home price in Orange County is $575,000.  This is a SIGNIFICANT percentage of homes now eligible for FHA!

2.  Buyers can have LESS than 10% down.

3.  Buyers can have LOWER credit scores.

4.  The interest rates are LOWER than jumbo loans!!!

5.  Seller can pay up to 6% of buyer's closing costs.

6.  All FHA loans are fully assumable.

In addition, buyers don't have to be first time home-buyers, they CAN have co-signers, and there are NO income limits.  I really think these programs will help to energize today's real estate market.  These loans are NOT sub-prime and have been around for years.  It's not a program the government cooked up to replace the sudden absence of sub-prime.  The loans and the increased Loan limits should really help to pave the way for more buyers to take advantage of the great housing deals out there today!  Contact me for more information!

I'm here to answer any of your real estate questions or concerns.  Please contact me at 800-845-8588, reynolds@socal.rr.comor lindareynolds.com. 

Linda Reynolds