orange county real estate: HOW DID WE GET HERE? WHAT DO ECONOMISTS THINK - State of Real Estate
- 07/01/08 03:44 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)
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orange county real estate: HOUSING MARKET HAS ITS WOES, BUT HAS ITS OPPORTUNITIES AS WELL…
- 07/01/08 03:39 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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orange county real estate: FOR REAL ESTATE NEWS, STICK WITH ME
- 06/01/08 06:53 AM
FOR REAL ESTATE NEWS, STICK WITH ME… This is not a market for the inexperienced.
I am here to answer your questions regarding selling your home or buying another one or entering into real estate investments.
The fact that agents are seeing multiple offers out there, particularly on bank owned properties - they are discounted so heavily to move them off the banks books that they are at fire sales levels.
You may lose a home you really would like to buy because you try to low ball the already low price when 10 other offers are also vying for the … (2 comments)
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orange county real estate: WHAT WERE THE ACTUAL NUMBERS - Orange County - California
- 05/31/08 10:01 AM
WHAT WERE THE ACTUAL NUMBERS Orange County, CA… The total number of sales was 2,166 for all properties including single- family resale, condominiums and new homes.
The median price hit $500,000 and the median price for a condo was $390,000. The most significant of the numbers is where the sales fall by price range. This is most telling of a market that is close to the bottom.
The most sales are happening in the lowest price ranges. There were 549 sales under $400,000 and another 424 from $400,000 to $500,000. There were only 194 sales from $600,000 to $700,000 and … (3 comments)
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orange county real estate: FORECLOSURES ARE UP AND BANK OWNED PROPERTIES ARE HERE FOR A WHILE
- 05/31/08 09:31 AM
FORECLOSURES ARE UP AND BANK OWNED PROPERTIES ARE HERE FOR A WHILE… The total number of foreclosures for April, the latest complete month available was 898, including houses and condominiums. That number was up 29% from March and 284% from a year ago.
Now obviously all those homes did not hit the market for sale all at once. They must be processed, sometimes rehabbed, and gotten ready for sale by the asset management company. In fact, the bank owned properties are staggered into the market.
There are several ways to buy bank owned properties.
One method is auctions and you … (1 comments)
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orange county real estate: SALES REBOUND AS PRICES FALL
- 05/31/08 08:52 AM
SALES REBOUND AS PRICES FALL… That was the headline of the Orange County Register on Tuesday, May 20th 2008. The accompanying photo was a very crowded entry to an open house.
What’s happening?
The bottom of this market is approaching, that’s what. This is exactly what was reported in this newsletter last month. Prices have gone down so far, so fast, that it’s hard for waiting buyers to resist. We saw an upward trend in open escrows as mentioned last issue, but the main ingredient is the upward swing of the affordability index which is growing every month … (4 comments)
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orange county real estate: Real Estate Numbers Worries Orange County Home Sellers
- 05/07/08 02:16 PM
If the number where to speak, real estate home sellers in the Orange County will have so many things to worry about. Based on the latest statistics from California Association of Realtors (CAR), the median price of houses sold in the state falls up to 24% with the average price of house at $424,000.00 considered to be the lowest drop since 2003.
The drop in the average seems to be lower than expected $ 500,000 at the rate of 9.5% which CAR expected not to be lower than the 500 mark for single sized family in California.
Sales in … (3 comments)
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orange county real estate: Branding is Important - For Yourself and Your Clients
- 04/23/08 06:29 AM
Farming a neighborhood is not about immediate return.
First you become an acquaintance - then an adviser - then an expert. This takes time.
One of the ways I do this is by putting out 7,000 Door Hangers on a monthly basis. They are not your standard Door Hangers. I get them printed in Texas, shipped to California - custom die cut - then delivered.
Consistency is imperative as you cannot expect to send out a flier and have 50 people call you to buy the home you are advertising - unlike Macy's weekend sale.
You have to show you are active - producing … (9 comments)
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orange county real estate: Brea Lofts - New Construction - Live/Work - Going to Auction
- 04/17/08 10:52 AM
You heard me right - the South Brea Live/Work lofts will be going to auction.
Twenty-six of these dynamic living spaces are going to be put up for auction on Saturday, May 3.
Combining a beautiful residence with the functionality of an office/workspace, these lofts are perfect for those who work from home.
Their prices have been dramatically reduced - a minimum bid of $475,000 could get you 2br/2ba and 2175 square feet!
For more information, contact me soon.
Adam BrettRE/MAX NOCFullerton,CA 714-496-8116800-977-ADAMwww.RealtorAdam.com
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orange county real estate: Twenty Reasons To Insure Real Estate Titles
- 04/16/08 10:59 AM
Bearing in mind that some of these possibilities may seem farfetched - "insane person" or the reappearance of someone presumed dead sound like something that would happen on an episode of Dallas - we should all operate under the adage "better safe than sorry" (or "stranger things have happened").
1. A fire destroys only the house and improvements. The ground is left. However, a defective title may take away not only the house, but also the land on which it stands.
2. A deed or a mortgage in the chain of title may be a forgery.
3. A deed or a … (0 comments)
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orange county real estate: University Heights Open House – Saturday April 12, 2008
- 04/02/08 11:58 AM
If you've driven by the University Heights housing project on the six-acre hillside property northeast of Brea and Harbor boulevards in Fullerton and wondered what they look like inside, or what the view from the top might be...now's your chance to find out. I've been assigned by the Cal State Fullerton Housing Authority to be responsible for the sales and marketing of the University Heights affordable housing project, and am hosting an Open House on Saturday, April 12, 2008.
Twenty-six of the paired homes are still available and are attractively priced from the high $400,000s to the mid $500,000s … (2 comments)
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orange county real estate: WHAT WERE THE EXACT NUMBERS AND WHAT SHOULD YOU DO?... Orange County
- 04/02/08 09:29 AM
There were 1,471 sales in February ‘08, the latest statistics available. That is 14.4% up from December ’07. That breaks down to 975 single-family resale, 345 condos, and 151 new homes. The sales were evenly divided by price range which reflects the lowering prices because people could buy more house with less money. There were 1,739 Notice of Default filed but far fewer actual foreclosures at 732.
WHAT SHOULD YOU DO? If I haven’t had an opportunity to visit with you about your real estate aspirations, now might be a good time. The Wall Street Journal had an awesome article in … (0 comments)
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orange county real estate: RECESSION OR NO RECESSION, WHO DO YOU BELIEVE? …
- 04/02/08 09:26 AM
That’s a great question because everyone is weighing in on this issue. Traditionally a recession is defined as two consecutive quarters of a declining Gross National Product. According to the LA Times, “The National Bureau of Economic Research, a private association of leading economists, makes the formal determination of a recession. The bureau defines recession more broadly than two negative quarters of GNP. It says a recession is ‘a significant decline in economic activity spread across the economy, lasting more than a few months.” UCLA economists say it will be close, but no recession. David Leonhardt, a columnist for the New … (2 comments)
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orange county real estate: WHAT’S CAUSING THE REAL ESTATE SURGE AND WHAT ABOUT ALL THOSE FORECLOSURES?...
- 04/02/08 08:41 AM
The surge is caused plain and simple by buyer demand. Right now, if a home is properly priced for its condition, it will sell. Because of incredibly bad publicity, buyers have sat and sat and sat on the sidelines. Many of them can wait no longer to buy. AND THEY SHOULDN’T WAIT ANY LONGER. RIGHT NOW IS A GREAT TIME TO BUY PROPERTY! That’s not to say it couldn’t get even better in terms of prices declining, but the unknown quotient there is interest rates. Right now, we know that interest rates are great. We know the Fed has been very … (2 comments)
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orange county real estate: Stunning Home; Beautiful Amenities
- 03/26/08 11:03 AM
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orange county real estate: Huge Backyard Makes Home A Standout
- 03/26/08 10:46 AM
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orange county real estate: The Value of Staging
- 03/19/08 10:49 AM
The slowdown in our industry means that sellers and agents alike search for new ways to appeal to buyers. Home staging is one of those ways, and the number of home stagers is growing exponentially because of an increasing demand for their services. Five years ago, there were only a few hundred professionally trained stagers, according to their professional organization. Now, there are more than 20,000 in North America.
Although staging can be a costly venture - often thousands of dollars - there is interesting research that suggests it pays off enormously. A 2005 study performed by Coldwell Banker tracked 2,772 properties. It found that while the … (2 comments)
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orange county real estate: Proposition 60/90 Means Tax Break for Seniors
- 03/14/08 08:19 AM
Ordinarily, when the ownership of California real property changes, the property is reassessed at its current fair market value and the new owner pays property tax based on the reassessment. Proposition 60 created an exemption by providing that the taxpayer who is 55 years of age or older may transfer the Proposition 13 base year assessment of his/her principal residence to any replacement dwelling of equal or lesser value within the same county. If eligible, the homeowner will pay property tax on the replacement home based on the same assessment value of the former home. Proposition 90 enables such taxpayers, in … (1 comments)
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orange county real estate: FINALLY SOME REALISTIC (AND YES POSITIVE) HEADLINES ABOUT SO CAL REAL ESTATE…
- 03/04/08 05:25 AM
The news varied from a positive “negative headline” such as “O.C. homebuilder’s woes may reach bottom in ‘08” (OC Register, Lansner), to a downright positive headline such as “Ignore the Headlines!
Except this one. Sure housing’s in a hole. But there’s a potent case for buying now, whether it’s real estate or stocks.” (Time Magazine, Keadlec).
What is the reason for the sudden optimism within the broader pessimism? The answer to that question is a multitude of factors that this newsletter has been drumming into you for the past few months; factors such as low interest rates, selection, seller concessions, lack … (1 comments)
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orange county real estate: Gorgeous Views - Top of Raymond Hills
- 02/18/08 04:13 AM
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