OC Realty Blog

The question as to when to sell an investment property depends on many factors, including: the likelihood of future appreciation, the cash flow it produces, the ease or difficulty of managing the property, and the property’s fit in an investor’s overall investment portfolio.

When selling real estate, many sellers want to know how long their home will take to sell.

If you’re interested in getting an estimate on how much time to plan for your next South Orange County real estate move, please call or email me. I would be happy to provide you with an updated market evaluation for your home and discuss a timeline that will work for you, so you can accomplish your moving goals.

Orange County Home Prices & Sales (source DataQuick):

For the 22 business days ending April 18, sales for all types of Orange County home sales decreased 23.9 percent. The median sales price remained unchanged for all types of housing, however, Resale Homes were up 2.6%.  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.

Although sales were down, prices still remain constant.  The featured city this week:

Corona Del Mar Real Estate (Zip 92625)

• Median Sales Price = $1.606,250  (up 8.2%)
• Number of Homes Sold = 24  (down 17.2%)

For a complete city list of Orange County Real Estate , click on the below link.

http://www.ocregister.com/ocregister/money/housing/article_1680803.php

Homeowner’s Exemption - Have You Applied?

I was just advising a client who was buying Orange County real estate to watch out for the California Homeowners’ Exemption form in the mail.  This is sometimes overlooked and not filed with the County Assessor’s Office, which will result in paying more property taxes than you need to!  I don’t know about you, but I don’t like paying more taxes than I have to!!!

What is Homeowners’s Exemption?  It reduces your assessed “taxable value” by $7,000.  This will save you real $$$ off your property taxes annually!  You may qualify if:

• You own the property
• The property is your primary residence
• You don’t alrready have a Homeowners’ Exemption
• You submit a completed application

If you aren’t sure if you’ve filed your exemption already, just call or email me (provide name and address on title and a contact number).  I’d be happy to check on your status for you.

To find out more information about Homeowner’s Exemption, visit the Orange County California Assessor’s Office website at http://www.ocgov.com/assessor/exemption2.asp

(Part 5 of a 5-Part Series): 

This is the tough part.  Where do you begin if your current home is packed full of years of accumulation?  How do I decide what stays and what goes?  Here’s a simple checklist to help you in this process……and remember, it’s never too early to begin planning. Start by space planning to determine what will fit in the new home, whether it’s Senior Housing or Residential Housing.  Sorting through your belongings:

•  Start in rooms that will be easier (ie: not being used). 
•  Take it a room at a time = less overwhelmed. 
•  Start with larger items to decide how much space you need. 
•  Save the family photos & treasures for last. 
•  Call a family meeting to distribute personal belongings and share your memories about each item before giving it away. 
•  Determine what to keep, what goes to family & friends, what to donate, what to trash and what to sell (it’s OK to re-gift). 
•  When in doubt, throw it out.  If you can’t bear to lose the memory of an item, take a picture of it before you let it go. 
•  Keep a list and mark all items. 

What does go, arrange for an auction (including E-Bay), Garage Sale or Estate Sale.  

Have a moving party and share the favorite memories of your home. 

Pass on the history of your home to the new owner to keep the memories alive.

Orange County Home Prices & Sales (source DataQuick):

For the 22 business days ending April 11, sales for all types of Orange County home sales decreased 25.6 percent. The median sales price increased 0.8 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.

Although sales were down, prices still remain on the upside.  The featured city this week:

Dana Point Real Estate (Zip 92629)

• Median Sales Price = $790,000  (up 1.9%)
• Number of Homes Sold = 42  (down 4.5%)

For a complete city list of Orange County Real Estate , click on the below link.

http://www.ocregister.com/ocregister/money/housing/article_1672826.php

Pricing Your Property:

Determinng price is one of the most critical steps in preparing your home for sale.  A well priced home often sells quickly once it is put on the market.

When your home is priced right from the outset, you maximize your opportunity of reaching the most qualified buyers and obtaining top dollar.

Pricing your home correctly:

• Can save you thousands of dollars on your family’s largest investment.
• Reduces risk because overpriced homes may eliminate some buyers if it is out of their price range.
• Optimizes traffic during the first peak weeks on the market.
• Ensures that other agents will show the home.
• Is good when it comes time to appraise.  Your home must appraise at the selling price for the buyer to get financing.

When I see your home and prepare a more complete and thorough market evaluation, I will use my knowledge of recent home sales and your neighborhood to help you price your home correctly. 

If you live in the Orange County California area, just give me a call or email for your FREE Home Valuation.  When you price your home for the current market conditions, it well sell in a reasonable amount of time and interest those buying real estate.

What type of home are you looking for?  There are so many choices that it is important to have an idea of what you want and need before you begin looking.  Consider making a checklist of amenities that are essential and those you would like to have in your new home. 

The list below may help you clarify your thinking on what is important to you when you are ready to purchase.

* What neighborhood(s) would you like to live in?
* What price range do you have in mind?
* What type of home interests you? (one-story, two-story, condo, etc.)
* Do you want a new home or a fixer?
* Are schools a factor?
* Do you need to be close to public transportation?
* How many bedrooms and bathrooms do you need? 
* What other interior features are important to you? (separate family room, formal dining room, home office, main floor bedroom, etc.)
* What about exterior features (lot size, patio, pool/spa, view, or waterfront)?
* Are there any special features you are looking for in a home (gated community, senior community, garage space, wheelchair access, etc.)?

When you are ready to start your search, I will be happy to help you find a home that suits your lifestyle.  My goal is to make this a fun and enjoyable experience.

Please feel free to call or email me when you are ready to start looking. I welcome the opportunity to help you find your next home in South Orange County California.

I should say that “working with a mortgage broker” is the first way!  When you let them help you find the loan that’s right for you, you truly are taking advantage of some of the area’s best technology and expertise to get you a loan decision and funding on your loan quickly.

But here are five “other” ways you can speed up the process of getting a mortgage loan:

(Part 4 of a 5-Part Series): 

Whatever the size of your family, be it small or large, you should get them involved in the move and the downsizing process.  You need to have the full support of your children and other family members in order for a smooth transition into the next stage of your life.  You should communicate your wishes and desires, and engage your family to help you through this process, such as:

.

• The transferring of non-titled property. 

• Getting agreement on who gets what belongings.

• Helping you with the moving process.

• Assisting with determining location & features of the new home.

• Offering guidance about available resources.

• Providing emotional support & helping overcome any fears.

By getting your family involved, they can help you achieve your goals, as well as help you subside any regrets, sorrow or stress you may have.  But most important, they will be able to share in the memories and family history as you sort through the household belongings.