Congress offers $300 Billion Bailout to Mortgage Giants! - 07/30/08 02:52 PM
Congress approved a bailout bill for some borrowers, but like most bills that come out of Washington DC, there are strings attached.
First, not everyone who is in trouble is going to qualify for relief. Banks and lending institutions are going to have to take some losses on loans they probably shouldn't have made in the first place.
Hedge funds that bought into real estate as it was going up are going to take a few hits as well, which can be reflected and have an impact on the stock market. While the Congress bailout bill is not an … (1 comments)

Early foreclosure filings dip in June for Orange County - 07/30/08 02:49 PM
Two data trackers RealtyTrac and Foreclosures.com, report that notices of default – filings that begin the foreclosure process – to Orange County homeowners dropped in June this year.  RealtyTrac, the Irvine-based market tracker, reported that banks filed 2,431 notices of default (NODs), down 7% from the previous month. The other source, Foreclosures.com, reported that lenders filed 2,397 NODs, down 16% from the previous month.  Banks typically file an NOD after a borrower misses at least three monthly payments. NODs represent the first stage in the foreclosure process.  However, NODs in June were up from a year ago. RealtyTrac revealed that the … (1 comments)

Rare dip for O.C. supply of distressed homes for sale - 07/30/08 02:37 PM
Steve Thomas, a home market analyst at Re/Max Real Estate Services in Aliso Viejo, reports that the number of distressed properties in Orange County was at 5,894 last week, down 59, or 1%, compared to two weeks prior. Distressed properties are described as those homes listed by agents as foreclosures or short sales.  Note:· This is only the second two week period this year that has seen the supply of distressed homes for sale drop. · Distressed properties represented 40.0% of all homes listed for sale, down from 40.5% two weeks ago. · Since Dec. 27 of last year, the number of distressed … (0 comments)

Builders shave $430,000 off new O.C. housing prices - 07/30/08 02:05 PM
Back in February 2006, the median contract of a new Orange County house was $1.29 million. In May of this year, a new house in Orange County costs $859,880. We have witnessed a drop of roughly $429,000, or 33%, from that peak in 2006. These figures, provided by Costa Mesa-based Hanley Wood Market Intelligence, are significant because they track sales contracts entered into escrow and break down new homes sold by housing type. Thus, we are able to see what is in the pipeline to be sold. The latest figures reveal that contracts in May for all types of new homes fell … (1 comments)

Forclosure Threat spreads in Orange County - 07/30/08 01:14 PM

The second Quarter has been ugly for foreclosure rates, and there is potential for even more foreclosures in the Orang County area.
In only the first and second quarters of this year, foreclosure and default notices far exceded all those of 2007.Within the next few days the Rigister will publish three maps that will be available online, that will show the areas of Orange County where most of the foreclosures are happening. This will be based on second quarter numbers by zip code fom DataQuick. Look for a link to these maps when this occurs.Now, to give you some insight … (2 comments)

1006 Yale - Beautiful home in Lower Raymond Hills - 07/25/08 04:00 PM
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New Listing #2 - Creekside - 07/16/08 06:07 PM
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New Listing - Creekside - 07/16/08 05:28 PM
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Sales Strategies for Stagnant Home Sales - 07/16/08 02:31 PM
No matter what the reason for putting your home on the market for sale, you want to get the best selling price for it that you can. Summer is the prime season for selling real estate, but last years’ mortgage debacle and resulting foreclosures along with the credit crunch and tighter lending standards has definitely put a crimp on home sales nationwide and our local markets have been affected too. Properties are selling but at a slower pace than one might expect of the hot summer selling season. So what steps can you employ to maximize your profit? What can you … (3 comments)

Thinking of Selling your Home? - 07/16/08 02:15 PM
If you’ve thought about selling your own home without professional help, you may be in for a rude surprise. Selling a home is a very time consuming and energy draining experience. For those who are familiar with the seemingly endless details involved in property transactions, the responsibilities can be overwhelming. In addition, you can easily lose a sale without a third party who knows the ins and outs of selling a home.
There are many points to consider in handling the sale of your own home. Can you determine its fair market value? Although you may believe you know what price … (0 comments)

Auction-based companies sued by homebidders - 07/14/08 06:04 PM
After failing to be able to purchase a home through an auction-style arrangement through various auction companies, a couple has filed a lawsuit in the Los Angeles Superior Court against Real Estate Disposition Corp. of Irvine. They accuse the auction company of running a business with a bait and switch business model. The couple, Juan and Laura Torres, placed a bid of $146,000 for a specific Corona property. After arranging an escrow and signing the paperwork for the property at the auction, the couple agreed to buy a buyer's premium of approximately 5% making the total deal about $153,300. However, a month … (1 comments)

Office of Thrift Supervision reports Orange County homes undervalued - 07/14/08 06:02 PM
The Office of Thrift Supervision (OTS)'s recent report analyzed the influence of savings and spending for mortgage home owners. A major trend that was seen included increased loan delinquencies for those with good credit, while the number of delinquencies lowered on those with less than average credit scores. The agency analyzed data from five specific service porfolios including Washington Mutual, Merrill Lnch, Countrywide, IndyMac and Wachovia. After analysis, early loan delinquencies occured when foreclosures rose in the first 3 months of 2008 (first quarter). This report recognized three specific trends. Firstly, action taken for loss mitigation for companies increased nearly 26 percent … (0 comments)

Orange County Residents can afford a home again - 07/14/08 06:00 PM
During the first quarter of 2008, home loan delinquencies and home foreclosures were statistically higher for those with prime loans versus those who had standard loan or credit issues. These findings, which were released by the Office of Thrift Supervision, or OTS, suggests that perhaps the housing market crunch may be due to shady loan practices, which approved mortgages for individuals who would not have qualified otherwise. The study by OTC collected data from large savings and loans corporations, such as Merrill Lynch and Washington Mutual. Prime loans were defined as those which were over a certain dollar amount, and that also … (0 comments)

Where will the next round of foreclosures come from? - 07/14/08 05:57 PM
Just when we think the Feds new lifeline is going to solve this mortgage crisis mess, the next round of foreclosures will hit the market, drive prices even lower and create negative economic impact on communities. Those areas that have seen home prices spiral downward are still going to experience a negative trend. The West Coast, Northeast, and Florida will continue to watch home costs decrease by up to 20%. 
As ARM's continue to adjust upward, and homeowners combat the far reaching effects of rising oil prices, there won't be money coming into American households to handle the increase in mortgage … (0 comments)

Fannie Mae and Freddic Mac - Bailed Out by the Fed - 07/14/08 05:53 PM
Fannie Mae and Freddie Mac are following the in the slippery and sliding slope that has befallen many mortgage companies. They are a state of financial distress. Unlike many of the smaller mortgage firms Fannie Mae and Freddie Mac are going to be bailed out by the Fed. The Fed has decided to help these mortgage giants to try and ease any fears about the failing mortgage systems. Fannie Mae and Freddie Mac hold over half of the US mortgages and have needed to in recent times borrow more money from the Fed to keep afloat.The Fed’s plan is to extend … (0 comments)

Fullerton Realtor and Listing Agent Helping Real Estate Investors Make the Right Decision - 07/10/08 11:48 AM
 
Orange County Realtor® and Fullerton Real Estate Agent Eases Real Estate Load in the Area

With Realtor® Adam Brett and his web site as your local real estate guide you can cut to the chase and focus on the essential elements needed to achieve your real property goals.   Adam Brett’s site can help also you diligently evaluate and analyze real estate agents so you can make the informed choice of who can best help you achieve your real estate needs.
 
When you are embarking on a real estate investment or making a decision to purchase a house you … (0 comments)

Orange County Realtor® and Fullerton Real Estate Agent Eases Real Estate Load in the Area - 07/10/08 11:41 AM
 
Orange County Realtor® and Fullerton Real Estate Agent Eases Real Estate Load in the Area
 
Can recent economic happenings in the country like high inflation be a great time to purchase a home if you can beat the price and other home seekers? If you are hell bent on finding homes in foreclosure, check out an Orange County Realtor® and take advantage of the market while you can. Realtor® Adam Brett can be of help.  Advice from a professional will help you avoid hurried decisions and costly mistakes.
 
In this market you need an agent who is … (0 comments)

Fullerton Real Estate - Information on Homes for Sale and Foreclosures - 07/09/08 10:24 PM
 
Fullerton Real Estate - Information on Homes for Sale and Foreclosures
To get a good picture of the Fullerton real estate market visit Adam Brett’s web site, www.RealtorAdam.com, it is an excellent site to view available Fullerton properties including new homes, foreclosure sales and homes listed on the MLS. The site provides a comprehensive resource for real estate information such as guidelines to help you search for the right real estate agent by reviewing an agents’ experience and sales production, and how to gauge the true value of your home in the current market.
 
No matter if you are … (2 comments)

Why you should use a Fullerton Realtor® for the Fullerton Real Estate Market - 07/09/08 10:22 PM
 
Why you should use a Fullerton Realtor® for the Fullerton Real Estate Market
 
When there is a buzz regarding Fullerton real estate, it is best to ask a qualified Fullerton real estate agent who is also a Realtor®. A professional Realtor® like Adam Brett will know the prevailing rates, how safe it is to buy homes in foreclosure, market updates, and information about houses that can appear to be good deal, but may have hidden issues that should be considered.  A local real estate agent like Adam Brett has the knowledge to answer these types of real estate questions … (0 comments)

Final note for June on recession, pricing and the future. - 07/03/08 04:37 PM
There was an Associated Press article whose headline read, "US Housing Slump a Prelude to Recession."  
It was a brief article and had 3 main points:
1) if history is any guide, a recession is most likely around the corner because a recession followed 6 of the last 7 housing downturns.  
2) Housing stats are at all-time lows since after WWII
3) after the recession ended, housing starts typically rebounded strongly after inventory fell and home sales picked up.
What I would add to this equation for Southern California in general and Orange County specifically should inspire hope.  I'm not trying to … (4 comments)

What were the actual numbers, including Foreclosures. - 07/03/08 03:34 PM
A total of 33,024 new and resale houses and condos were sold statewide in May. That was up 6% from April and down 10% from May of last year. Southern California sales volume from Ventura County to San Diego County was 16,917 as compared with 19,874 a year ago.
Orange County's total number was 2,266 which was a 15% downturn from May '07. The median price went from $635,000 to $485,000. Yes there was another jump in California foreclosure activity.
Southern California had a total of 65,309 Notices of Default issued the first quarter of 2008. Orange County had 7,082 which … (0 comments)

Good or Bad news for Southern California Real Estate? - 07/03/08 01:04 PM
 
Ladera Ranch, a nine-year-old gated community of 25,000, the type of community every american dreams for. These postmodern townhouses go for up to $4 million yet foreclosure seems to be in its near future. Over 100 homes in Ladera Ranch are in pre-foreclosure while another 100 are already up for auction. When there are so many properties in distress, property value drops widely, and trying to sell could be a nightmare.
This isn't even the worst of it, there are plenty of places in this situation all over greater Los Angeles. Prices are down 18% to 28% in the metro … (2 comments)

Mortgage Delinquency rates climb! - 07/03/08 12:10 PM
The rates are up! Mortgage Delinquency is 60 days past the due date. The delinquency rate for OC is 3.14%, that is still lower that the States delinquency rate which is sitting at about 4.34% as reports from TransUnion state. Although the current rates for OC are lower than that of the States, the increase rate for OC is greater than the States, 32% increase for OC and 25% increase for the State. The Nation has the lowest increase rate with 8% and the delinquency rate is on average 3.24%
TransUnion’s senior consultant in the financial services group, Keith Carson said, “The … (1 comments)

HOW DID WE GET HERE? WHAT DO ECONOMISTS THINK - State of Real Estate - 07/01/08 10:44 PM
 
HOW DID WE GET HERE?  WHAT DO ECONOMISTS THINK?...
 
Well, we got here in a variety of ways.  First and foremost the way was paved with cheap and available money.  The blame for this goes all the way to Greenspan, Wall Street and the White House. 
 
Without getting into the fray, let it be known that the Associated Press reported on June 19th that more than 400 real estate industry players have been indicted since March, in a Justice Department sting dubbed, “Operation Malicious Mortgage.”  It is believed that mortgage mishandling, at best, and fraud at … (3 comments)

HOUSING MARKET HAS ITS WOES, BUT HAS ITS OPPORTUNITIES AS WELL… - 07/01/08 10:39 PM
 
HOUSING MARKET HAS ITS WOES, BUT HAS ITS OPPORTUNITIES AS WELL…
 
Every cloud has a silver lining and the real estate market is no different. 
 
Sales volume took a jump in May (the latest full month available) over April, although sales were still off approximately 10% from May of ’07.  However, most agents who are actively working the foreclosure market will tell you that 8 to 20 offers is not unusual for any house priced under $500,000. 
 
The papers will tell you the market is dead, the economists are predicting doom and gloom for another … (0 comments)

 
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Adam Brett - Fullerton, California Realtor

Fullerton, CA

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Prudential California Realty

Address: 1431 Harbor Blvd # A Fullerton, Fullerton, CA, 92835

Office Phone: 800977ADAM

Cell Phone: (714) 496-8116

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