Portabello Estate of Corona Del Mar - 11/28/10 06:07 PM
The Portabello Estate of Corona Del Mar sold it's asking price had been $75 million and it is a 22,000 square foot home on the water with limestone flooring and glass partition that rises out to the kitchen counter.  It has 8 bedrooms and it's own cove. 
The Portabello Estate of Corona Del Mar cost $33 million to build and the land according to the agent John McMonigle was worth $45 million.  The price was double that of any home had ever sold for.  It closed on October 20th.  The sale price was at 34.1 million the third highest sale in the county history.
… (6 comments)

Mision Viejo Realtor Area Market Report - 11/28/2010 - 11/28/10 05:49 PM
Mision Viejo Realtor Area Market Report - 11/28/2010
This weeks market report for Mission Viejo and surrounding areas from Mission Viejo Realtor shows that Orange County Median Prices for the resale homes were up 0.9 percent, for new homes it is up 6.3 percent and for resale condos down 5.7 percent.  The sales volume is down for resale homes 21.8 percent and down 15.6 percent on condos and up 21.8 percent for new homes. 
Mission Viejo  Zip Code 92691  sales prices are down 7.9 percent and the sales volume is down 16.7 percent. Mission Viejo  Zip Code 92692  sales prices are down 1.1 percent and the sales volume is down 19.4 percent. Aliso Viejo  sales prices are down 11.5 percent and the sales volume is down 28.4 percent. Laguna Niguel  sales prices are up 2.4 percent and … (0 comments)

California State Teachers Retirement System Program - 11/21/10 04:44 PM
California State Teachers Retirement System Program
  
3% down Payment, 17% Second and an 80% First, No Mortgage Insurance
   This is a program that the Kevin Budde Team with Bank of America sent to us.  I thought it was important for the agents and public to know.
   To be eligible for the CalSTRS Home Loan Program, the borrower must be an employee of a California public school district, a California community college or a member or employee of the California State Teachers Retirement System.
  There are two programs, conforming and non-conforming. The maximum conforming program is an 80% first … (12 comments)

Don't Lower the Sales Price, Buy Down the Interest Rate - 11/21/10 03:34 PM
Don't Lower the Sales Price, Buy Down the Interest Rate
  Instead of lowering the sale price of a home, the seller can offer to pay for a buydown of the interest rate for the borrower on a temporary basis over the first several years of the loan.
  A temporary buydown allows a lower interest rate on a mortgage for a fixed period of time at the beginning of the mortgage term. Temporary buydowns are not a type of mortgage, but rather a temporary interest rate reduction option that can be used with most types of mortgages.
  Buydowns allow for a reduced … (14 comments)

Why Have Interest Rates Moved Up? - 11/21/10 03:01 PM
Why Have Interest Rates Moved Up?
   The Federal Reserve Board made the announcement a couple of weeks ago they were going to continue buying U.S. Treasuries after ceasing the program in March of this year. They had already purchased in excess of $2 Trillion worth of government debt and have decided to buy an additional $600 Billion. The term given to this is Quantitative Easing. The more direct way the Federal Reserve Board helps the economy is buy lowering the Federal Funds Rate but it currently stands at .25% not leaving an additional room to lower rates.
  Last Friday the … (8 comments)

Irvine Company Risky New Home Venture Pays Off - 11/21/10 02:48 PM
I have watched as the Irvine Company took what some called a risky new home building venture that no one else was willing to take and they made it pay off big.  They were willing to build new homes for a couple of years putting up the money and attracting builders in to build communities.
One weekend ago, the latest communities of home in Irvine, Capistrano and Los Altos neighborhoods in the Stonegate East Community were released.  The shoppers placed 31 purchased offers on the homes before the official opening on November 13th.
According to The Orange County Register, the Irvine Conpany hoped it might sell 650 homes … (0 comments)

Coastal Laguna Estates Are Lower in Price - 11/21/10 02:28 PM
Now is a great time for buyers to shop for a great deal along the Laguna Beach coast for that coastal estate because of the lower price offer.  According to The Orange County Register the homes on the sand in Laguna Beach are a little bit cheaper today.  Some experts claim that now is a great time (holiday time) to swoop in and purchase a home in Laguna for a lesser price.
A home in South Laguna on Coast Hwy has dropped its price has dropped its price by $1,000,000 dollars. It is a home located on the ocean front and … (2 comments)

Seasonally Holliday Inventory Drop - 11/21/10 02:07 PM
I know that seasonally we see a drop in inventory during a Holiday period.   The period of just before Thanksgiving and on tell after New Year is the most sever.  In Orange County California we are seeing a 2 percent drop in the last two weeks.  That drop equates to about 274 homes.  However, we are seeing a weakening of the market, because sellers have either given up or do not want to try to sell their homes in this climate.  Inventories have dropped Since September by 741 homes or 6 percent.
Last year the market and the consumer both showed faith … (4 comments)

Mision Viejo Realtor Area Market Report - 11/21/2010 - 11/21/10 01:35 PM
Mision Viejo Realtor Area Market Report - 11/21/2010
This weeks market report for Mission Viejo and surrounding areas from Mission Viejo Realtor shows that Orange County Median Prices for the resale homes were up 2.2 percent, for new homes it is down 1.1 percent and for resale condos down 11.7 percent.  The sales volume is down for resale homes 20.6 percent and down 19.3 percent on condos and up 21.7 percent for new homes. 
Mission Viejo  Zip Code 92691  sales prices are down 5.6 percent and the sales volume is down 19.6 percent. Mission Viejo  Zip Code 92692  sales prices are up 5.3 percent and the sales volume is down 26.6 percent. Aliso Viejo  sales prices are down 6.2 percent and the sales volume is down 31.6 percent. Laguna Niguel  sales prices … (0 comments)

Mision Viejo Realtor Area Market Report - 11/14/2010 - 11/14/10 05:09 PM
Mision Viejo Realtor Area Market Report - 11/14/2010
This weeks market report for Mission Viejo and surrounding areas from Mission Viejo Realtor shows that Orange County Median Prices for the resale homes were up 2.0 percent, for new homes it is up 6.0 percent and for resale condos down 9.7 percent.  The sales volume is down for resale homes 20.8 percent and down 18.7 percent on condos and up 14.7 percent for new homes. 
Mission Viejo  Zip Code 92691  sales prices are down 5.7 percent and the sales volume is down 30.4 percent. Mission Viejo  Zip Code 92692  sales prices are up 12.1 percent and the sales volume is down 20.3 percent. Aliso Viejo  sales prices are down 6.8 percent and the sales volume is down 38.5 percent. Laguna Niguel  sales prices are up 5.6 percent … (6 comments)

B of A Warns Lawsuits Cost Could Be Damaging - 11/07/10 05:43 PM
B of A warns lawsuits could cost enough to lead to losses.  US banks are saying they could face costs that from the litigation over mortgage loans that would cause the banks to suffer losses.  The lawsuits are being broughtby investors.
The foreclosure crisis has heated up and B of A, JPMorgan Chase and company and GMAC Mortgage halted foreclosures after evidence emerged of paper work irregularities.  Many but not all of the mortgages are from sub-prime mortgages that were isssued prior to the mortgage crisis.
Many of the large investors purchased the mortgage backed securitits are now suing banks.  Their … (7 comments)

I Think That A Good Market Is Coming - 11/07/10 03:47 PM
Interest rates are held down and the new Republicans in Congress are going to tow the line on spending.  That can lead to new confidence in our small businesses and they may start to hire.  As that begins to acure consumer confidence will begin to rise.  Individuals will feel better about their employment and if that is the case they will note the low prices and the low interest rates.  They will then be free to go forward and purchase a home.
If you think that is nuts and you are here in California and you see a mass exodus out of … (10 comments)

Mision Viejo Realtor Area Market Report - 1011/7/2010 - 11/07/10 02:49 PM
 Mision Viejo Realtor Area Market Report - 11/7/2010
This weeks market report for Mission Viejo and surrounding areas from Mission Viejo Realtor shows that Orange County Median Prices for the resale homes were up 0.8 percent, for new homes it is up 17.3 percent and for resale condos down 5.2 percent.  The sales volume is down for resale homes 16.7 percent and down 16.2 percent on condos and up 13.9 percent for new homes. 
Mission Viejo  Zip Code 92691  sales prices are down 6.3 percent and the sales volume is down 32.8 percent. Mission Viejo  Zip Code 92692  sales prices are up 7.2 percent and the sales volume is down 15.9 percent. Aliso Viejo  sales prices are up .03 percent and the sales volume is down 20.9 percent. Laguna Niguel  sales prices are down 10.5 percent and the sales … (0 comments)

 
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Tim Lorenz - 949 874-2247

Mission Viejo, CA

More about me…

TIM LORENZ of Keller Williams Realty

Address: 27101 Puerta Real, Suite 150, Mission Viejo, CA, 92691

Office Phone: (949) 282-2521

Cell Phone: (949) 874-2247

Email Me

A real estate professional and investor for over 43 yrs look at the market, the laws, the trends and the condition of the market. A runing commentary of one persons professional's opinion.


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