January 2010

Have you decided to buy a new home? Have to sell the one you own now to do it? Here's how that works....

Friday, January 15th, 2010 at 8:34pm. 257 Views, 0 Comments.

So you've decided to make a move and sell your Orange County, CA house - to buy a larger home, a smaller home, a newer home, or a home in a different city.  But you have to sell the house you own now to make it happen.  How does that work?

Well, you have a couple of options - I'll outline each of them.

Sell Your Current House, Then buy Your New Home

Pretty simple - get your house ready to sell, list you house, sell your house, then go find your new home.  But the timing is the thing you have be prepared for.  Here's what might happen and what you can do:

Your house sells immediately and you panic because you don't know where you'll go. 

1. You can ask for a longer escrow - to give you time to find your next home.

2. Ask for a rent back from the…

Aliso Viejo Homes for Sale Market Report Now Available

Friday, January 15th, 2010 at 12:30pm. 180 Views, 0 Comments.

Check out our new Aliso Viejo Homes for Sale Market Report page!

Consistent and Meaningful Information

One of the challenges of the real estate business is to provide consitent and meaningful information about market conditions.  We've teamed up with Altos Research to provide reports for a select group of South Orange County cities that will do exactly that.

Aliso Viejo is the first city we've released.  More will follow soon, and we'll keep adding improvements over time.  Information provided includes tables of current 7-day stats for both houses and condos, and charts showing trends for "market action indes", median price, median price per square foot, and inventory of homes for sale. Here's a little sample:

Tell Us What You Think

Follow the link…

Rancho Santa Margarita Foreclosure - What Exactly Does It Mean?

Wednesday, January 13th, 2010 at 5:17pm. 237 Views, 0 Comments.

There are currently eight Rancho Santa Margarita homes for sale that are flagged as "In Foreclosure Process" or "Notice of Default".  There are six more flagged as "REO/Lender Owned", and a whopping 88 homes listed as "Short Sale".  What exactly do all these terms mean?

What Does "In Foreclosure" Mean?

The Foreclosure Process

"Preforeclosure" is just a general term for homes that are in some stage of the following process before the actual Trustee's Sale:

1.  The home owner stops making payments on the mortgage.

2.  The lender files a "Notice of Default" (NOD), usually after 90 days or more.

3.  Another 90 days after filing the NOD, the lender can file a "Notice of Trustee's Sale".

4.  21 days after the Notice of Trustee's Sale, the home…

Rancho Santa Margarita Real Estate the Hardest to Buy in OC?

Tuesday, January 12th, 2010 at 8:17pm. 215 Views, 0 Comments.

The Orange County Register reports that, according to local broker Steve Thomas of Altera Real Estate, the number of Rancho Santa Margarita homes for sale is lower than any other city in the county compared to the number of new purchase deals under contract in the last month.

Rancho Santa Margarita Home Inventory is Down

 The Numbers

Here's a recap of some of the number covered in the video:

Bank Owned homes for sale have become rare, and Short Sales make up almost…

Why Are Some Irvine Homes For Sale Priced So Low?

Monday, January 11th, 2010 at 1:28pm. 137 Views, 0 Comments.

What does it mean when you see an  Irvine homes for sale priced too low to be believed? 

How to Get Buyers' Attention

So, you saw a great home at a great price, called your agent, jumped in the car to see it, and wrote an offer - only to find out there were multiple offers over the asking price.

Setting the price of an Irvine home for sale below comparable homes is a stragey that some sellers are using. In today's Real Estate market, buyers are looking for a "great deal", and setting the list price in such a way that it attracts lots of attention is a way to make a home stand out.

In the end, the market sets the price.  All buyers are looking for a deal, and they'll end up competing with eachother until the sale price climbs up to…

Buy a Fixer Orange County Home with FHA Financing

Thursday, January 7th, 2010 at 12:49pm. 317 Views, 1 Comments.

Buyers who find the perfect Orange County home for sale, but are using FHA financing are sometimes at a disadvantage to other buyers because FHA has certain requirements about the "livability" of the home.  The FHA 203k Rehab Loan program is designed to help people buy a home that needs some work.

FHA 203k Program

Basics of the Program

Essentially, this program allows you to buy a home that is listed for sale below the market price because it needs repairs, and build the cost of those repairs into your financing.

There are obviously a few requirements to qualify for the program.  Here's a quick rundown:

• The program is for "owner occupied" purchases only - no investors/income properties
• Single Family homes, Condos (with some restrictions)…

Mission Viejo Foreclosure - Video Tour

Saturday, January 2nd, 2010 at 7:23pm. 179 Views, 0 Comments.

This nice home in an excellent area in the heart of town is one of the best new opportunities among homes for sale in Mission Viejo.

Take a Video Tour

Bound to Sell Quickly

There's already been significant interest in this home.  It's priced to sell at under $500,000, and homes in that range don't stay on the market long.  Give us a call today if you're, or someone you know might be interested!