OC Realty Blog

For the calendar month of March 2007,  real estate sales for all types of Orange County home sales decreased 25.5 percent.  The median sales price, however,  increased 0.6 percent.  The median is where half the homes sold for more and half for less.  Types of homes selling, as well as home value changes, cause the median to change.  (Source:  Orange County Register April 15. 2007).

If you’d like the information on a city that is not listed, just call or email me.

What’s the best way to help your home make a great first impression on would-be buyers? Real estate experts agree that “staging” your home to show it in the most favorable light is well worth your time and effort.Beyond the pre-sale cleaning and organizing you would expect to do, successful staging includes strategically arranging objects and furniture, adding decorative touches and more. Here are a few tips from the pros to help buyers make an immediate emotional connection with your home:

Whether you do the staging yourself or have your home done by a professional, area experts say that homes that are staged often sell 75% faster and for 5-10% higher than the asking price!

If you need more information about staging your home, you can call or email me.  I’m your resource for valuable staging ideas and referrals to professional stagers in the South Orange County California area.

When is the right time to buy?  People move into home ownership for a variety of reasons.  Some want to become established in a community or to provide a more permanent home for their family.  Many think that real estate is a good investment.

There are many advantages to home ownership: 

. . .  Appreciation –Your home can increase in value over time, increasing your equity and your personal net worth.

 . . . Personalization –You can change or improve your home to suit your style and needs, such as painting or wallpapering, installing new flooring, or upgrading the bathrooms. 

. . . Space – A house generally offers you more space inside and out than a rental apartment, along with the ability to remodel the existing space or add on. 

. . . Enjoyment – Plain and simple, most homeowners take a great deal of pride in their homes.

When you are ready to purchase a home in South Orange County California, I welcome the opportunity to help you.  I specialize in the areas of Laguna Niguel, Aliso Viejo, Laguna Hills, Mission Viejo, Dana Point, San Juan Capistrano, San Clemente, Laguna Beach, Corona Del Mar, and Newport Beach.

What Is It?  A type of financing where the buyer or seller pays extra points (often called discount points) in return for a lower interest rate.

The low-down on buydowns is that they are commonly used to make qualifying for a loan easier since they lower a loan’s interest rate.  Most common is the temporary buydown where you prepay interest in exchange for a lower rate on the first 2-3 years of a loan.  Often the builder, seller or lender, all who want to make the housing more attractive to buyers, will pay for the buydown.  Also, the lower starting rate makes it easier for the buyer to qualify for the loan.

Example: How do you do a temporary 3-2-1 buydown for a $250,000 fixed rate loan?

Step 1 (Chart shows lower payments for the Buyer)

Step 2 (Chart shows buydown cost to builder, lender or seller)

This mortgage option is a win-win situation for both Buyers & Sellers.  The Buyer gets lower payments for the first two years, which can enable them to get into a home which they might not using a conventional mortgage. . . and although the Seller or Lender has some out of pocket costs at closing, the house gets sold, and this cost is usually much lower than taking a price reduction.

For more information on this type of loan, call me at 949-244-0719 so I can put you in contact with our local lender in the South Orange County California area.

(Part 2 of a 5-part Series): 

There are many good housing options for Active 55+ Adults, from apartments, to condos, to Co-Op’s, to attached and detached homes.  The focus for the housing selection should be a place that is smaller, lower maintenance, less costly and opportunities for recreational activities.  In addition, you should consider these key factors: 

• Research various community floor plans, amenities, activities. 
• Consider easy living designs – one-level housing, no steps, wide doors & hallways. 
• What features do you need - # Bedrooms, #baths, square feet, senior community. 
• Decide what type of housing is best for you, single family residence or condo/townhome. 
• Is the home located near stores, shopping, recreation activities, family, health care. 
• Do you need a warm, dry climate for health reasons? 

Really give some thought as to where you want to move.  You should also make your selection carefully, as this could be the home you retire in.

If you need help with your move in the South Orange County California areas of Laguna Niguel, Aliso Viejo, Laguna Hills, Mission Viejo, Lake Forest, Rancho Santa Margarita, Dana Point, San Juan Capistrano, San Clemente, Laguna Beach, Corona Del Mar or Newport Beach, please contact me to help you with your transition as I am a qualified Senior Real Estate Specialist.

When visiting South Orange County California, a must see is the 5-Star Montage Resort and the adjacent public park they constucted as part of the development.  Treasure Island Park in located in South Laguna Beach and near to Laguna Niguel and Dana Point. 

Opened in 2003, Treasure Island Park has one of the most beautiful grounds I have ever seen.  It includes meandering walking paths, wide array of plants, cozy sitting benches, steps to the beach, coves for snorkeling, picnic tables, lookout points, 5-star bathrooms and access to the Mosaic Bar & Grill or the Studio for fine dining.

For more information, visit these websites:

http://www.beachcalifornia.com/treasure-island-beach-laguna.html

http://www.montagelagunabeach.com/index.html

There are many people who own real estate that are not married.  Those people that are unmarried or domestic partners just need to have a good understanding of their rights with regards to real estate ownership.  I’ve found a great article that answers these questions:

• Why should unmarried couples & domestic partners worry about real estate co-ownership issues?
• How does domestic partner registration affect real estate co-ownership?
• How does real estate “title” affect unmarried couples?
• How do unmarried couples & domestic partners  hold title to real estate?
• What happens when the deed does not state how title is held?
• Can an unmarried partner claim rights to the other partner’s separate property?
• What facts support a claim of joint ownership?
• How can unmarried couples avoid property disputes?
• Do all unmarried couples who co-own property need a co-ownership agreement?
• What are the major issues for couples who co-own property?
• How do most unmarried couples resolve these issues?
• How do forced buyout and sale provisions work?
• Can sellers discriminate against unmarried couples?

. . . . and more.  If you fit into this category, it is worth taking a few minutes of your time to read through this informative report.  Just click on the following link.

http://www.andysirkin.com/HTMLArticle.cfm?Article=4&Hit=1

As a seller, you need you make your home look and, believe it or not, smell the best to outshine the competition.  First impressions are key! 

1. Make the front entrance inviting.

Potential buyers often drive by before deciding they want to see the inside of the house, so make sure the front door area looks nice. 

2. Clear away clutter.

Put away personal photos, knickknacks, boxes – anything that will distract the buyer from concentrating on the house.  Also clear paper & closet clutter. 

3. Clean the house thoroughly.

Take the time to make the bathrooms sparkle, wash the windows, and clean appliances, fixtures, blinds, & staircase.  Don’t forget under the sinks. 

4. Freshen the appearance of rooms.

A little paint can go a long way in making your home sellable.  Repaint the rooms in a neutral color to make them look clean & fresh.  Paint the exterior if needed. 

5. Arrange the furniture for spaciousness.

Remove extra, unwanted furniture and arrange remaining pieces in a way that creates smooth traffic flow. 

6. Do all you can to reduce odors.

People never forget smells when they walk in the door.  Try your best to remove odors caused by pets, smoking, & cooking. 

7. Perform minor repairs if necessary.

Take a hard look around your home and see it from a buyer’s perspective:  oil door and window hinges, fix loose handrails, repair walls, replace broken tile, etc. 

8. Replace outdated lighting & plumbing fixtures.

Replacing old, worn out fixtures with new ones gives you a lot of bang for the buck. 

9. Clean the carpeting.

Unless it is extremely worn, you may be able to avoid replacing carpet.  Buyers often prefer to choose they own carpet or opt for hardwood floors.   

10. Don’t forget the garage.

It’s tempting to stash things away in this area of the home, but when you’re selling, the garage has to be neat & clean too.

The specialty of buyer’s representation not only requires knowledge of real estate markets and transactions, but insight into consumer behavior. The goal of a buyer’s representative is to find the perfect point of connection between the homes available in the market and the needs and financial capacity of the buyers.

Let me show you how I can save you time by:

1. Locating suitable properties.

2. Previewing properties.

3. Verifying the properties’ condition.

4. Suggesting necessary inspections by experts.

5. Helping you determine what you can afford.

6. Verifying property taxes and utilities.

7. Verifying the value of the property.

8. Advising you on structuring an offer.

9. Presenting the offer to the sellers’ representative.

10. Negotiating favorable contract terms for you.

11. Explaining legal documents needed for closing and helping secure them.

12. Assisting in securing financing.

13. Assisting in clarifying title, zoning, building codes, and access easements.

14. Refer you to qualified vendors.

15. Analyzing the future salability of the property.

If you’re thinking about buying a home in the South Orange County Areas of Laguna Niguel, Aliso Viejo, Laguna Hills, Mission Viejo, Dana Point, San Juan Capestrano, San Clemente, Laguna Beach, Newport Beach, give me a call to find your perfect home!

With the recent subprime shake-up, yes, some 100% financing is disappearing. 

• What is a subprime loan?  Pioneered in Orange County California, this lending option targets borrowers with marginal credit scores.
• Why the shakeup?  Subprime borrowers had trouble making payments, consequently, the financial backers of these lenders decided to pull the plug on future mortgage loans.

It’s not as bad as it seems, though.  Only 20% of all U.S. mortgages are subprime.  Only 1 in 8 of that 20% default, which equates to a 2.5% default rate.  Since many of these loans were 100% financed, that whole area of the mortgage industry is being closely scrutinized, with many lender dropping 100% financed loan options.

There is a light at the end of the tunnel.  If you have good credit scores and/or can provide full documentation for your loan, some lenders are still offering 100% financing.  One of those lenders is First Capital, located in Orange County California.  For more information on 100% financing or other loan options, contact my local branch in Laguna Niguel by calling 949-249-6150 or visit their website at www.OCLoanTeam.com