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Thing To Do on Halloween in Orange County - 10/29/07 03:57 PM
Looking for something to do on Halloween in Orange County? Well here is a list of Spooky things to do for the whole family:
Nightmares and Beyond, 6-11 p.m. Tuesday, Oct. 30 and Wednesday, Oct. 31, at Nightmares and Beyond, 25272 Pacifica Ave., Mission Viejo. A haunted house featuring ghostly illusions, floating monsters and various rooms including the popular Alien Room which makes you feel like you're in outer space. $10 adults; $5 children. 949-643-9000. nightmaresandbeyond.com
The Carnival of Screams, sunset on Saturday Oct. 27-Sunday Oct. 28 and Wednesday, Oct. 31, at Tustin Haunt (residential street), 13151 Brittany Woods Dr., Tustin. Neighborhood haunted … (3 comments)
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Orange County Median Home Prices Lowest in 2 1/2 Years - 10/25/07 04:03 PM
Orange County's median house price fell to its lowest level in 2½ years last month in the California Association of Realtors latest home-price survey.
Sales of existing, single-family houses tumbled in Orange County as well, falling 32.9 percent from September 2006.
The state Realtors association reported Wednesday that the median price for a single-family home - or the price at the midpoint of all sales - was $673,770 in Orange County, down 4.6 percent from September 2006. That's the biggest percentage drop since April 1995.
The sales reflect real estate escrows opened in August, when a credit crunch made it harder for buyers … (1 comments)
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Existing Homes Sales Fell 8% in September - 10/24/07 02:25 PM
Demand for existing homes slid 8% to a 5.04 million annual rate inSeptember, the lowest sales pace in nearly 10 years, amid continued problemsin the mortgage market. Inventories of homes rose 0.4% at the end ofSeptember to 4.40 million or a 10.5 month supply available for sale.
Due to inventory being so high, it created home prices to drop. Regionally, the west and the south show an increase in price drops while the north and the east show slight increases.
Allen Hubbard, National Economic Director, said that the white house knows that the housing market is not going to turn around quickly.
Hopefully, … (1 comments)
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Can Investors Save Distressed Homeowners? - 10/23/07 02:18 PM
Alexis McGee says foreclosure investors can be heroes. McGee, 46, is president of Foreclosures.com. Last month her book, "The Foreclosures.com Guide to Making Huge Profits Investing in Pre-Foreclosures Without Selling Your Soul" hit store shelves. She says investors can help distressed homeowners avoid foreclosure while also making handsome profits on most deals. They do this by providing homeowners free advice and then taking over their mortgage if that's the best option for the owner. Here are some questions she answered:
Q. I've heard from several readers interested in making money on foreclosures. But in a market of soft home prices, that seems like … (0 comments)
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OC Median Price Falls Below $600,000 - 10/22/07 03:49 PM
A mid-summer credit crunch took a big bite out of Orange County's housing market last month, with home prices falling by their biggest margin in 12 years and sales tumbling to their lowest level in at least two decades.
Sales fell 44 percent from a year ago to 1,643 homes last month, according to real estate market tracker DataQuick Information Systems. That's the lowest number of homes sold per month in the 20 years that DataQuick has tracked the local housing market. Agents said in some cases they had buyers but couldn't get the financing.
Kurt Galitski, an … (0 comments)
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It was a Chilly Summer for OC Housing Market - 10/22/07 03:34 PM
It was a summer to forget for Orange County housing. Simply put, the third quarter was the slowest three-month period for Orange County homebuying since Data-Quick started collecting housing data in 1988: a shocking 46 percent below the 20-year average.
When the quarter started, a huge problem was a shortage of mortgages for folks with dicey credit profiles. By quarter's end at Sept. 30, folks with good credit seeking to borrow more than $417,000 - so-called "jumbo" deals - found financing problematic, too.
These bookends of mortgage headaches helped scare off buyers. Yet the pain was unevenly distributed. Reviewing … (0 comments)
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Will OC Home Prices Increase in 2008? - 10/16/07 04:29 PM
Mission Viejo broker/economist Gary Watts says the real estate market will benefit from the Federal Reserve cutting interest rates, Congress passing bills to aid housing, and more money becoming available for home lending. He says the financial markets will begin calming down. The current down cycle will come to an end, just as other down cycles have done since 1970, and an excellent buying opportunity may lie ahead. Watts, whose home-price insights are widely watched in the local real estate community, conceded last week that his 2007 housing forecast was wrong, but he's upbeat about 2008. "The numbers for September and … (1 comments)
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Good News – Foreclosures Down in September - 10/11/07 04:03 PM
According to reports, foreclosure filings are down 8% from August. This may be due to more investors trying to buy distressed properties or more initiative from the mortgage companies to save homeowners from filing for foreclosure.
Mortgage companies are trying to work with those feeling the bite. Lenders like Countrywide and Wells Fargo have added more counselors and phone lines. They estimate that they are saving about 50% of homeowners from filing for foreclosure.
Let's hope that this can become the new trend.
For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market … (0 comments)
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12% of Orange County Housing Inventory in Distress - 10/10/07 04:44 PM
According to an article in the Orange County Register that 12% of the entire housing inventory is in distress. Short sales and foreclosures in Orange County account for 12 percent of the active inventory and 15 percent of all escrows opened within the prior month. The index used shows the inventory - to selling ratio continuing to erode. By this index, it would take 15.17 months for buyers to purchase all of the homes for sale at the current pace vs. 14.73 months two weeks earlier and vs. 7.10 months a year ago.
With going into the traditionally slowest time of the … (2 comments)
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Buying vs. Renting Your Next Home - 10/04/07 04:40 PM
Is now the right time for you to buy a home? You have many options to consider and choices to make. Buying a home is a big responsibility, financially and emotionally, but, most people want to own a home. Homeownership often is referred to as "the American dream." Why is it so special? Among the reasons: Real estate often is an excellent investment, perhaps the number one source of wealth-building for families.
Owning a home has many benefits. When you make a mortgage payment, you are building equity - and that's an investment. Owning a home also qualifies you for tax … (0 comments)
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Down-Payments Got You Down? - 10/04/07 04:38 PM
For many Americans "coming up" with a down payment for their first home purchase can be a major roadblock - and quite often the reason for renting, rather than owning. A down-payment is the difference between the home's purchase price and its mortgage amount. This percentage of the sale price must be paid up-front and can vary by lender, location, and loan program. A higher down-payment generally translates into lower loan interest rate requirements.
Typically, a down-payment comes from personal cash savings, but it can also be a gift that is not to be repaid or a borrowed amount secured by assets.
While … (0 comments)
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Home Sale Gains & Tax Exclusions - 10/04/07 04:35 PM
Selling a home is a less taxing prospect since the 1997 tax law changes - literally. If you're married, you can exclude up to $500,000 of the profit from the sale. If you're single, you can exclude up to $250,000.
Qualifying is simple: you must have owned and lived in the house for two out of five years before the sale. And this is not a one time exclusion: you can use this exclusion every time you sill a house, as ling as you haven't sold another house in the last two years. If you're married, you have to meet additional requirements … (2 comments)
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Keping an Eye on your Credit and FICO Scores - 10/04/07 04:32 PM
Your FICO scores are affecting you more and more everyday. From purchasing a home, buying a car, insurance and finding your dream job. Yes, I said even finding your dream job! Employers check your credit and it could be the difference of you getting your dream job. Add to all of the identity theft that is going on today it is critical that you keep an eye on your credit.
It is really important that you monitor your credit report several times a year. I recommend checking it monthly or a minimum of once every 3 months. I recommend services like http://www.truecredit.com/ or … (0 comments)
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OC's Up on Short Sales - 10/04/07 04:29 PM
Many people are in Orange County are trying to save their homes from foreclosure because of the mortgage industry upset. However, there are those that will not be able to save their homes. They have two options: 1) let their home go into foreclosure or 2) sell it themselves for less than they owe and ask the lender to eat a loss. If the lender agrees to the second option then the home will be sold as a "short sale". According to the Southern California Multiple Listing Service, short sales show 193 short sales listed from July through Aug 23. That's … (2 comments)
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Orange County Home Supply Hits 9 Month Level - 10/04/07 02:03 PM
Real estate consultant Pat Veling's math says Orange County's supply of homes for sale hit what he called the "troubling" nine-month level, a point that could trigger price drops and cause the inventory of listings to go up even further. Veling's estimate means that it would take nine months to sell all the homes now on the market based on the past year's sales pace. Other inventory estimates put that figure at a higher level but are based on the sales pace for the past 30 days. Veling, who occasionally joins the debate on the Lansner on Real Estate blog … (1 comments)
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Increase the Value of YOUR Home - 10/02/07 05:13 PM
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Zen Ziejewski Laguna Niguel Real Estate
Laguna Niguel,
CA
More about me…
Keller Williams Realty
Office Phone: (949) 282-2512
Cell Phone: (949) 922-2200
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My goal is to provide you with the most current real estate news, events, and statistics that effect the Orange County Real Estate Market.
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