real estate: Orange County CA Real Estate - Foreclosure Activity September 2007
- 10/02/07 07:05 PM
Sept. 2007 Unusual Month or Moment of Relief from Foreclosure Turmoil By Namneet Dhaliwal Orange County Real Estate October 2, 2007 It is the first time in last twelve months, that foreclosure curve for Orange County CA Real Estate had turned its direction. Although, it is premature to say if it is just an isolated monthly statistic or an early sign of stability but for sure it is reassuring There are buyers looking for the good deals, including REO and Short Sales. Homeowners who are late or unable to make their payments, they should be talking to their banks to make a different payment arrangement. At the … (0 comments)
real estate: Be aware this could be a Rental Scam
- 08/27/07 05:54 PM
Yesterday morning, I got a call from a prospect asking about rental properties in multimillion-dollar community of Yorba Linda Orange County CA, known as Kerrigan Ranch. He said that he makes about 60-80K per month and posed as a mortgage company owner, asking to see homes for monthly rent of 5-8k. He called again to see the properties this weekend, during further questioning he admitted to previous BK about 4 years ago. I was very skeptical about this. Today I find an email from our MLS stating that Be Aware - Rental Scam Moving North. I am sure every one else … (3 comments)
real estate: Orange County CA Real Estate – July 2007 Foreclosure Report
- 08/01/07 09:42 AM
By Namneet Dhaliwal, Realtor August 1, 2007 July 2007 marks as the worst month for notices of default and trustee sales in past 12 months. There were total of 1800 homes owners who got these notices. Although a small margin of error is possible due to some duplication. Majority of these homeowners may not end up loosing their homes. However relatively speaking when numbers jump form 592 in July of 2006 to 1800 for July of 2007, there will be more people loosing their properties. There is a surge of short sale and REO listings in the area. It does not appear to … (0 comments)
real estate: Brea CA Real Estate –July 2007 Market Update
- 07/22/07 08:41 PM
By Namneet Dhaliwal July 23, 2007 Houses are staying longer on the market and we are experiencing a decrease in price as compared to last year, if the sales continue to slow like this, we could see this pull back in prices going to 2004 levels. According to local MLS data there were about 173 residential properties for sale in 08/01/2006. As of July 23, 2007, there are 191 active listings in the market, the highest in past few years. There are only 27 properties in the pending status, marking it a very slow time for real estate market. … (0 comments)
real estate: La Habra CA Real Estate –July 2007 Market Update
- 07/22/07 08:27 PM
By Namneet Dhaliwal July 23, 2007 According to local MLS data there were about 258 residential properties for sale in 08/01/2006. As of July 23, 2007 there are 312 homes listed for sale, showing a jump in the inventory as compared to the last year. We are starting to see a long list of price reductions especially where the listing prices were unreasonable to begin with. La Habra Real Estate and homes are still of great value and are most affordable in North Orange County area. Some areas of La Habra have shown a price drop as much as 10% as compared to the … (1 comments)
Orange County CA Real Estate continues to have higher inventory and lower number of properties in pending status. As of July 20th 2007, there were 17554 homes listed and only 2577 homes were under contract. This is a greater disparity compared to June 17th 2007 when there were 16886 active listings and 2931 homes were under contract according data posted by So Cal MLS. Under contract are the potential sales that would close mostly with in 8 weeks. Increase in the listings and decrease in pending sales is a sign of continuous weakness in the real estate sales. … (0 comments)
real estate: Real Estate Market Report - Brea CA
- 05/23/07 06:39 PM
As expected, numbers of active listings are rising slowly as we approaching the highly demanding season of the year in housing market. Brea Ca has 170 active homes for sale and there are 37 homes under contract. People are very skeptical of this market and many buyers are staying on the sidelines to gauge the market. Namneet Dhaliwal … (0 comments)
Up until recently any one could buy a house, even with FICO score of 580, and recent bankruptcy as long as it has already been cleared. Stated income, no documents and no money in the bank - one could still get a kind of loan. Over lending by mortgage industry caused their own failure.
All above do not apply any more; lenders are changing their guidelines daily. We are heading back to traditional lending. For many banks, borrowers need to have decent FICO score, first time borrowers will need money down 5-10 percent even with a score of 700. Because … (0 comments)
real estate: New Listing in Brea CA- Turnkey Beautiful Home
- 03/18/07 02:51 PM
A Highly upgraded, corner lot, 3 bed, 3 full bath 2 car garage, 2100 sq. ft, built in 1996. It comes with upgraded travertine tile in bathrooms, maple wood flooring, and plantation shutters throughout the house, custom paint. Family kitchen with eating area and island, oak cabinets, granite counter tops, very open feel with cathedral ceilings, separate living room and family rooms, fireplace in living room. Nice back yard with koi pond and built in barbecue. Enjoy the Virtual Tour Ride
3 BR, 3 BA, 2100 sq. ft. Built in 1996 For $699,000-720,000 Make an offer, all offers will be reviewed by the seller and will … (0 comments)
real estate: Creative Financing and its After Math
- 03/06/07 06:03 AM
Who is to Blame? Lenders are tightening their underwriting guidelines, requiring increased FICO scores for qualification, getting rid of sub-prime loans, but for now it is too late in the scheme. It was surprising to see that big lending companies, who have top notch financial ad visors, could not understand or foresee the after math of their creativity. It will take a while to clean up the mess created by poor underwriting guidelines. Recent actions by Freddie Mae and other institutional lenders should been taken and implicated few years back. A great number of people did not only get the teaser … (0 comments)
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