Mision Viejo Realtor, Tim Lorenz Area Market Report 10/30/2011 - 10/31/11 07:43 PM
Mision Viejo Realtor Tim Lorenz Area Market Report 10/30/2011
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 down 5.0 percent, for new homes it is up 1.0 percent and for resale condos down 7.5 percent. The sales volume is up for resale homes 2.3 percent and down 14.6 percent on condos and down 20.5 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 9.4 percent and the sales volume is up 32.4 percent. Mission Viejo Zip Code 92692 sales prices are down 6.3 percent and the sales volume is down 16.7 percent. Aliso Viejo sales prices are up 17.3 percent and the sales volume is up 12.5 percent. Laguna Niguel … (4 comments)

Senate Passes Amendment to Restore $729,750 - 10/24/11 03:41 PM
Senate Passes Amendment to Restore $729,750
 
Thursday the Senate approved an amendment to a spending bill which would restore the $729,750 maximum loan limit on government backed mortgages for two more years. In addition to increasing the ceiling, which dropped to $625,500 on October 1, the Senate amendment would also restore through 2013 the formula for determining the upper loan limit in high-cost housing markets.
 
The Senate approved the loan limit amendment by a 60-38 vote. It now moves to the House. It remains to be seen whether the House will approve the higher loan limits. The National Association … (12 comments)

Homeownership Is No Longer Hip - 10/23/11 07:46 PM
What, is what I thought when I red an article in The Orange County Register, titled "Homeownership is no longer hip" today by Mr Krueger.  What?  Do we not remember the same kinds of articles during the Carter administration.  It stems from short sightedness of people.  We believe where we are is where we will always going to stay the same as it is right now.
Do you know what makes a sad man happy and a happy man sad?  TIME
His logic is built around the 2010 census, where it showed a drop from 66.2 percent in 2000 to 65.1 percent … (32 comments)

Mision Viejo Realtor, Tim Lorenz Area Market Report 10/23/2011 - 10/23/11 07:31 PM
Mision Viejo Realtor Tim Lorenz Area Market Report 10/23/2011
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 down 5.9 percent, for new homes it is down 9.7 percent and for resale condos down 12.4 percent. The sales volume is up for resale homes 3.9 percent and down 12.8 percent on condos and down 12.1 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 1.7 percent and the sales volume is up 50.0 percent. Mission Viejo Zip Code 92692 sales prices are down 8.0 percent and the sales volume is down 13.1 percent. Aliso Viejo sales prices are up 9.3 percent and the sales volume is up 10.3 percent. … (0 comments)

How Much Is A Job Worth - 10/16/11 07:59 PM
How Much Is A Job Worth
I read an interesting column in The Orange County Register by Deroy Murdock where he describes how much the green jobs cost us.  In Solyndra  1100 jobs or $479,000 per job.  It was short term because they are all unemployed now.  The American households or taxpayers are on the hook for $527 million. 
In Sept. $737,000 million loan guarantee for Nevada's Solar Reserve Project.  It promisses 600 jobs at $1.23 million a job.  But only 45 are perment jobs at $16.4 million each.
In Sept. Sempra Energy's Mesquite Solar Project in Arizona got $337 million … (28 comments)

Tim Lorenz, Mission Vieno Realtor Area Market Report 10/16/2011 - 10/16/11 07:17 PM
Mision Viejo Realtor Tim Lorenz Area Market Report 10/16/2011
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 down 7.0 percent, for new homes it is down 11.1 percent and for resale condos down 11.0 percent. The sales volume is up for resale homes 6.3 percent and down 12.4 percent on condos and down 14.1 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 5.7 percent and the sales volume is up 65.6 percent. Mission Viejo Zip Code 92692 sales prices are down 8.0 percent and the sales volume is down 15.4 percent. Aliso Viejo sales prices are up 3.0 percent and the sales volume … (6 comments)

New Lender Settlement Proposed To Compensate Homeowners - 10/09/11 04:19 PM
There is a proposed $20 Million proposed settlement to compensate homeowners for foreclosure scandal.  The California Attorney General Kamala Harris told reporters Tuesday told reporters on Tuesday that it is "nowhere near" adequate.
Kamala Harris went on to suggest that the banking officials could face prosecution if they find criminal activity.  Kamala Harris felt the proposal was too soft and overly lenient in releasing banks from potential future claims.
Kamala Harris pulled out last week from the multi-state settlement talks with nation's leading mortgage servicers.
The case is with 5 major banks Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and … (18 comments)

Tim Lorenz, Mision Viejo Realtor, Area Market Report 10/8/2011 - 10/09/11 03:54 PM
Mision Viejo Realtor Tim Lorenz Area Market Report 10/8/2011
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 down 9.5 percent, for new homes it is down 5.6 percent and for resale condos down 13.3 percent. The sales volume is up for resale homes 9.1 percent and up 2.6 percent on condos and down 1.9 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are up 0.1 percent and the sales volume is up 34.9 percent. Mission Viejo Zip Code 92692 sales prices are down 5.6 percent and the sales volume is up 5.1 percent. Aliso Viejo sales prices are down 8.1 percent and the … (4 comments)

Former Home of Diane Keaton On The Market - 10/09/11 03:25 PM
Former Home of Diane Keaton On The Market
The former home of Diane Keaton is on the market in Laguna Beach it is an ocean front 5 bedroom 4.5 bath home.  It has just had a price reduction and is now listed at $8.49 million.  It was reduced by $489,000.  It is a 4,041 sf home on a 12,500 sf lot.  Originally built in 1928 in the California Mission Style. 
It overlooks Shaws Cove and has private steps to the sand.  In Laguna Beach it is not possible to build your own steps without Coastal Commission Approval.  This home was grandfathered … (4 comments)

4 County Housing Snapshot - 10/04/11 09:58 AM
… (4 comments)

Mision Viejo Realtor Tim Lorenz Area Market Report 10/1/2011 - 10/02/11 07:29 PM
Mision Viejo Realtor Tim Lorenz Area Market Report 10/1/2011
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 down 10.8 percent, for new homes it is up 3.1 percent and for resale condos down 12.9 percent. The sales volume is up for resale homes 4.6 percent and down 0.8 percent on condos and down 9.7 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 2.7 percent and the sales volume is down 3.6 percent. Mission Viejo Zip Code 92692 sales prices are down 8.5 percent and the sales volume is down 5.2 percent. Aliso Viejo sales prices are down 11.9 percent and the sales volume is up 9.2 percent. … (2 comments)

One Quarter Of The Homes In Orange County Are Mortgage Free - 10/02/11 04:39 PM
One Quarter Of The Homes In Orange County Are Mortgage Free
If you were wondering how Orange County will fair in the mortgage melt down that has and is occuring.  We will survive quite well.  Remember that one in four homes in Orange County is without a mortgage.  It is owned outright.  (according to the U.S. Census Data) that would be 140,200 homes.  There median monthly cost is only $478.
Nationally the number of Mortgage Free homes is growing.  Remember in the last few years we have had a lot more all cash deals. 
In 2004 only 21.6 percent of the … (4 comments)

Standard Pacific's CEO Resigns As Of January - 10/02/11 04:17 PM
Standard Pacific's CEO Ken Campbell resigns his position as of January.  The current President Scott Stowell will become the Orange County, Irvine based homebuilder's new CEO. 
MatlinPatterson injected a half-billion dollars into the firm and saved it from bankruptcy.  The company states it is positioned for the future.  Good luck I really home they make it thru.
… (7 comments)

Lennar Reported A 31% Drop In Profit - 10/02/11 04:08 PM
Even though Lennar increased the average price of a home they still reported a 31% drop in profit.  The offset for the increase price was the slower than expected sales.  Do not get me wrong they are still in the black
Now, we must guess was the 3 percent increase in home prices a great move?  The amount that the market dropped was likewise 3 percent.  Looks like they made the correct move if we assume that the price increase does not hurt the sales overall.
Good luck Lennar.  I hope they are brilliant and knew which moves to make.
… (4 comments)

What Are Buyers Waiting For? - 10/02/11 03:54 PM
What are buyers waiting for?
For years now I have been telling agents and brokers that the market is not driven by interest rates.  Most look at me as though I was a nut job.  Now we can see if the lower interest rates produces a boom or does little to nothing. 
The Fed thinks that lower interest rates will get the housing sector going.  It can't and they bet the economy on there guess.
The way to get the housing sector going is consumer confidence.  The average person is not likely to come out and purchase a home if they … (12 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

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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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