The Market Has Changed - 03/25/12 02:21 PM
The Market Has Changed
When you at the statistics for Orange County the market is showing a major change.  We see that the homes are selling fast with only a 1.58 months of inventory.  The MLS will give us a look at sales before the other reporting agencies see the speed with which homes are selling. 
The number of distressed property inventory have come down 36 percent this year or 1133 properties.  Of the distressed properties 25 percent were foreclosures.  The foreclosures alone went down 46 percent. 
With the new settlement with the banks over robo-signing we may see a completely different market … (21 comments)

Mission Viejo Realtor Tim Lorenz, Area Market Report 3/25/2012 - 03/25/12 09:34 AM
Mission Viejo Realtor Tim Lorenz, Area Market Report 3/25/2012
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 6.0 percent, for new homes it is up 3.7 percent and for resale condos down 11.0 percent. The sales volume is up for resale homes 15.1 percent and up 8.4 percent on condos and down 25.8 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are up 0.7 percent and the sales volume is up 22.9 percent. Mission Viejo Zip Code 92692 sales prices are down 12.3 percent and the sales volume is up 36.8 percent. … (12 comments)

18.9 Percent of Orange County Homeowners Underwater on Their Loans - 03/18/12 09:30 AM
18.9 Percent of Orange County Homeowners Underwater on Their Loans
18.9 percent of Orange County homeowners owe more on their loans than their homes are worth (underwater).  This is almost one in 5.  To some this is a difficult position.  It is tragic.  With about 1 in 5 people in California either unemployed or underemployed this condition is serious.
Most are looking for a silver lining and the positive news.  I to want the positive news.  It is difficult when thing are as bad as they are here.  Little is done to help with building a job base or to help … (20 comments)

Mission Viejo Realtor Tim Lorenz, Area Market Report 3/18/2012 - 03/18/12 08:55 AM
Mission Viejo Realtor Tim Lorenz, Area Market Report 3/18/2012
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 4.2 percent, for new homes it is down 4.3 percent and for resale condos down 13.8 percent. The sales volume is up for resale homes 7.7 percent and down 7.1 percent on condos and down 34.1 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 8.4 percent and the sales volume is up 0.0 percent. Mission Viejo Zip Code 92692 sales prices are down 5.5 percent and the sales volume is up 12.5 percent. Aliso … (4 comments)

Orange County's Inventory Is Down 33 Percent - 03/11/12 05:55 PM
Orange County's Inventory Is Down 33 Percent
Orange County has dropped 33 percent on the number of listings comparied to the begining of 2011.  The sellers are not coming on the market as they have in the past.  To be sure we have not seen this since 2005.  Some believe this will drive prices up.  Yet we have not seen that happening.
As I look at the blogs on Active Rain I see that many of the blogs note a drop in there areas as well.  If the market is picking up.  I do not see it.  We need consumer confidence … (14 comments)

Mision Viejo Realtor Tim Lorenz, Area Market Report 3/11/2012 - 03/11/12 09:27 AM
Mision Viejo Realtor Tim Lorenz, Area Market Report 3/11/2012
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 5.3 percent, for new homes it is up 6.0 percent and for resale condos down 16.9 percent. The sales volume is up for resale homes 10.6 percent and up 3.1 percent on condos and down 19.7 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 12.6 percent and the sales volume is up 14.9 percent. Mission Viejo Zip Code 92692 sales prices are down 12.4 percent and the sales volume is … (6 comments)

Successful Close of Another Short Sale - 03/09/12 02:54 PM
Successful Close of Another Short Sale
By Mark and Tim
 

This property owner had a hardship and needed help.  We were fortunate to be able to assist her.  You need someone looking out for you.  Call for a no cost evaluation of your situation.
If you are lost and do not know what to do with your current situation on you property Call us.
 
… (10 comments)

New Scam In Orange County - 03/07/12 08:56 PM
New Scam In Orange County
An real estate agent in Yorba Linda had a telemarketer call them and represent themselves as a real estate agent and thus the new scam started in Orange County.  The person on the phone offered $90,000 more for the time share they own in Mexico.  All they had to do was pay 10 percent tax to the Mexican Tourism Department which they would get bact after the close of the deal.
So the couple sent $25,000 to a bank in Guadalajara.  They said they went through with the deal because the telemarketer gave them the name of … (16 comments)

The Cost of FHA Financing is Going to Increase! - 03/05/12 06:45 PM
The Cost of FHA Financing is Going to Increase!
 
FHA has recently announced that "as part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration's (FHA) Mutual Mortgage Insurance Fund" a new premium structure will go into effect.
Beginning April 1st, 2012, FHA will increase its monthly mortgage insurance premium as well as the upfront mortgage insurance premium.
 
On June 1st, 2012, there will be an additional increase of the monthly mortgage insurance premium for the high balance areas.
Currently, the upfront mortgage insurance, the amount … (18 comments)

6 California State Bills Concerning Foreclosure - 03/04/12 09:32 AM
6 California State Bills Concerning Foreclosure
California has 6 new bills concerning foreclosure they propose to:
End the process in which homeowners are continually passed frome one bank officer to another as well as a "dual track" practice of foreclosure and and loan modification. Creating "robo signing" penalties. Fining the lenders that allow properties to get blited. Provisions to allow tenants more time to relocate. These are in the new proposed bills.  Expect major resistance by the big banking lobby.
… (6 comments)

Mission Viejo Realtor Tim Lorenz, Area Market Report 3/4/2012 - 03/04/12 08:48 AM
Mission Viejo Realtor Tim Lorenz, Area Market Report 3/4/2012
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 5.3 percent, for new homes it is up 2.4 percent and for resale condos down 16.0 percent. The sales volume is up for resale homes 2.0 percent and down 0.9 percent on condos and up 5.9 percent for new homes.
Mission Viejo Zip Code 92691 sales prices are down 11.8 percent and the sales volume is up 25.0 percent. Mission Viejo Zip Code 92692 sales prices are down 14.5 percent and the sales volume is down 30.0 percent. … (4 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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