Orange County Real Estate Success » Making Life Easier

First Time Buyer Fears – 5 Reasons Renters Hesitate to Buy a Home

angieweeks — Mon, 02 Jan 2012 18:39:10 +0000

As first time buyer specialists, we’re constantly helping buyers address their fears about purchasing real estate. Some are very valid, while others are simply fear of the unknown. If you know someone going through pre-homebuying drama , please share this post with them, so they know they’re not alone, and understand how to overcome!

1. Fear of getting rejected.

There are WAY too many renters missing out on today’s buyer’s market simply because they are afraid to get qualified. They’re afraid that one bill they forgot to pay 5 years ago or those charged off accounts from college will keep them from buying a home forever. This is NOT true!! Everyone has dings on their credit, it does not mean you’ll be excluded from buying a home. At least talk to a lender and see what steps you need to take next to get qualified. Interest rates are ROCK BOTTOM right now, you owe it to yourself to try :)

2. Fear of losing good faith deposit.

A typical California ‘Good faith’ deposit (GFD) is 3% of the purchase price. Buyers write a ‘Good faith’ check and submit it with their offer, and if their offer is selected, the check is cashed and the escrow process begins. We’ve seen lots of buyers hesitate to write this check because they believe once the check clears, they MUST buy that property. In California, this is FAR from the truth. Your GFD is simply funds you as the buyer put forward to show your commitment to the property as you do your due diligence. During this due diligence contingency period, you can decide against the property and have your deposit returned for any reason, so don’t lose a great property because you are in fear of making a deposit!

3. Fear of overpaying.

Even though today’s buyers know the market better than ever with access to the MLS via internet and home value apps everywhere, buyers are still afraid to make a move in fear they will have ‘overpaid’ for a property they fell in love with, and be stuck underwater for years and years. (Sound like any renters you know??) Nothing could be further from the truth. Unless you are paying CASH for a property, it’s impossible for you to overpay, because there are systems of checks and balances in place to ensure this does not happen. During your ‘due diligence’ period, your lender is also doing their due diligence to make sure this is a solid property to loan you money on. The lender will send out an appraiser, and the appraiser’s sole job is to confirm the property is worth the price you offered on it. So rest easy knowing the bank will never loan you more money than the property is worth, even if you wanted to overpay. Plus, having an experienced buyers agent as your Realtor will also help you avoid overpaying, so you’re double covered

4. Fear of choosing a lemon.

We’ve all seen “The Money Pit” with Tom Hanks….YIKES! There are a lot of people out there who believe sellers will lie, cheat and steal to get their property sold. (and sometimes they may try to!) Fortunately for today’s homebuyers, a property inspection is conducted to ensure the home you love is not a lemon. There are quality home inspectors all over Orange County and they will inspect your property while its in escrow to make sure all the electrical, plumbing, appliances and structure is in working order. After a buyer’s inspection is complete, it is also typical to submit a ‘request for repairs’ to the seller with a list of items you would like addressed before moving into the property. Every property will have its problems, but buyers will always go into the situation with eyes wide open as long as they get a a property inspection with a quality inspector.

5. Fear of overextending.

Another completely valid buyer fear is over extension. “What if I bite off more than I can chew”? “What if I get laid off”? “What if I need to move”? These are all GOOD things to consider, but, they are not reasons why you should rent in fear the rest of your life. Actually, if you rent until you retire, you’re going to have a lot of reasons to worry how you’ll keep the roof over your head. Ideally, you’ll purchase a property, pay down the mortgage, and live in your paid off property after retirement In order to safeguard your investment, its a really good idea to have 3-6 months worth of reserves in the bank in case you do lose your job or need to move and find a renter for your property. Talk to your financial advisor about how much you should have in reserves so you don’t overextend and have to eat ramen noodles for the rest of your life. Its bad for your health.

What makes you hesitate to buy a home? If you’ve already bought your first property, do you remember your biggest fear when you took the plunge the first time? Please share by commenting below or tweeting @weeksteam or @angieweeks – we’d love to hear your story!!

Do You Qualify for a Loan Modification?

angieweeks — Thu, 10 Nov 2011 17:42:05 +0000

I’m astounded at how many Orange County homeowners qualify for a loan modification. And I’m even more astounded that they never seize the opportunity, generally because there’s so much misinformation floating around. As a result, hundreds of distressed homeowners never get the help they need. Mike Hatcher, seasoned modification advisor with the Ascent Network, is here again to offer a wealth of valuable insights –

The best thing I can do is clear away all the debris of misinformation. So, in no particular order, here’s a list of GREAT loan modification candidates:

Those yearning to save an average of $1,000 a month — our average improvement.
Those with W2 income between $40k-$130k. Or the self employed, who usually don’t qualify for a refinance. We are 99% successful securing modifications for this group.
Those who never “rob Peter to pay Paul” in order to cover the bills.
Those who have perfect payment records but wonder how long they can afford to make their payments.
Those in default and are 14 days from a foreclosure sale on their property.
People worried sleepless because they fear losing their home and fear seeking help. This reluctance typically is the result of mass misinformation.
Those who want to shoot their spouse (or realtor) for deciding to purchase the house back in the mid-2000s.
Individuals seeking a long-term mortgage solution with a fixed rate.
Those who realize that renting ultimately costs more, don’t want to pay for or expend the energy for a move, and don’t want to live in someone else’s rental property.
Those who fail to qualify with their lender, or are given a token $30-$100 monthly savings modification as a consolation prize.

Quite a list, with more than a few surprises, eh? So, are you ready to learn how a loan modification can put $1,000 extra in your pocket every month? Just call Mike at 877.871.2400 x15. You’ll be amazed at how simple it is to cast your financial worries to the wind.

And, of course, if you’d like to learn more about the variety of opportunities the Orange County real estate market offers, I’ll be delighted to help. Just call, tweet, or email me at 949.338.7408, @AngieWeeks, @WeeksTeam, or angie@askangie.com. I’m ready to assist you in any way I can.

Orange County VA Loans – 8 Things Realtors (and Vets!) Should Know

angieweeks — Mon, 03 Oct 2011 21:54:26 +0000

Hey Orange County Veterans! I read this great article about VA loans in OCAR mag this month, and was able to get permission for reprint here on our blog. If you’re interested in a VA loan or getting a home with your veteran benefits please contact Paul or The Weeks Team!

VA Loans on the Rise

With deployment looming and more veterans entering the workforce soon, Realtors might want to brush up on the basics of VA financing. A VA (Veterans Administration) guaranteed home loan is the preferred loan program for Active (and non-active), Reserve, National Guard, and retired military of the armed forces because there is no down payment needed, the interest rates are low, and no private monthly mortgage insurance is required.

An interesting fact — more than 27 million veterans and service personnel are eligible for VA financing. This is a growing buyer segment for the real estate community.

Veteran Loans – Do I Qualify?

To be eligible for a VA loan, Wartime/Conflict Veterans must serve for at least 90 days and must receive an honorable discharge. Here are the dates of active duty:

World War II – September 16, 1940 to July 25, 1947
Korean Conflict – June 27, 1950 to January 31, 1955
Vietnam Era – August 5, 1964 to May 7, 1975
Persian Gulf War – Check with VA regional office for specific eligibility.
Afghanistan and Iraq – Check the VA’s Web site for eligibility guidelines for current service in Afghanistan and Iraq.

Reserves and National Guard – Members who have completed six years of service and have been honorably discharged (or are still serving) may be eligible for a VA loan.

For peacetime service, an applicant must have at least 181 days of continuous active duty with no dishonorable discharge. If discharged earlier due to a service-connected disability, the applicant must contact the regional VA office to verify eligibility.

8 Things Realtor’s & Vets Should Know about VA Loans:

100% financing – No down, Zero Down. Unlike an FHA loan (3.5% down) or a conventional loan (3-5% down), a VA loan requires no down payment.
No monthly private mortgage insurance is required. Unlike a low down FHA or a no down Conventional loan (which require PMI), a VA loan has no PMI.
4% seller credit is okay — There is a limitation on buyers closing costs. FHA and Conventional loans allow for a 6% seller credit, but VA loans cap this credit at 4%.
VA is not a lender — VA does not actually lend the money to you directly. Instead, the VA offers a guaranty to lenders, like me, that if the loan goes into default, they will pay the lender a percentage of the loan balance. The word GUARANTY does not actually guaranty the veteran will qualify for a VA home loan. Instead, it’s a “guaranty” that the lender will not incur losses in case the VA borrower hits hard times and a foreclosure ever develops.
Interest rates are low – The interest rates are similar to FHA rates.
You don’t need perfect credit – Most lenders require at least a 620 FICO score, but some lenders will go as low as 580, if certain conditions are met.
The VA defines allowable fees and charges that the veteran borrower can pay or closing costs that may be charged to the borrower. These costs are determined as reasonable and customary by each local VA office. All other costs in the transaction are considered non-allowable and generally paid by the seller when purchasing a new home or by the lender when refinancing your current VA mortgage. Allowable fees are appraisal, inspections, recording fees, credit report, prepaid items, hazard insurance, flood check, survey, title insurance, and VA funding fee.
The VA also specifies what is NOT allowable. Additional fees may be charged to the veteran only if specifically authorized by VA. The lender may request VA to approve such a fee if it is, (a) normally paid by the borrower in a particular jurisdiction, and, (b) considered reasonable and customary in the jurisdiction. The following list provides examples of items that CANNOT be charged to the veteran as “itemized fees and charges.” Instead, the lender must cover any cost of these items out of its flat 1% fee. Non-allowable fees include: Loan closing or settlement fees, underwriting, processing, escrow fees, notary, document preparation fees, preparing loan papers or conveyance fees, attorneys services other than for title work, photographs, interest rate lock-in fees, escrow fees, broker fees by third party mortgage brokers and tax service fees.

PAUL E. SCHEPER, MBA, CSA, SRES is a devoted member of OCAR. He is a graduate from Harvard University and USC. He is a licensed mortgage banker and OC VA loan specialist since 1984. Paul can be reached at 949.242.4422, www.PaulScheper.com, or tweet him @paulscheper!

First Time Homebuyers Have a New Reason to Rejoice

angieweeks — Thu, 01 Sep 2011 00:38:36 +0000

As if there weren’t a bonanza of incentives already available to first time homebuyers, newbies have yet another excellent reason to purchase a house. Called Homepath, this very generous program currently enables Fannie Mae to offer buyers up to 3.5% in closing cost assistance through October 31, 2011. In addition, a $1,200 selling agent bonus is available to agents who close on an owner occupant property and meet all eligibility requirements and terms and conditions.

Remember, Homepath is available only for Fannie Mae properties and to first time buyers. If you and your chosen property qualify, the program offers you a fantastic way to get some amazing benefits. Possibilities include getting your closing costs paid or changing a prohibitively costly condo into an affordable dream home.

If you’re interested in Homepath, here are some of the conditions you should be aware of.

Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer.
Initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)

If you’d like to learn more about Homepath, I’ll be delighted to help. Just call, tweet, or email me at 949.338.7408, @AngieWeeks, @WeeksTeam, or angie@askangie.com. I’m ready to assist you in any way I can.

A Good Deal Starts With a Realistic Investor Strategy

angieweeks — Thu, 01 Sep 2011 00:31:41 +0000

Like any investors, those delving into Orange County real estate want the best possible deal. Great. But investors also need to temper their profit quest with a sound strategy and realistic expectations. Getting a good deal boils down to four essentials:

1. Decide how much you want to spend.
2. Determine your intention. Do you want a portfolio piece or a buy & flip?
3. Know how to recognize a good deal. After determining market value and identifying the desired neighborhood, an investor who gets a property at 10 percent below market value definitely is getting a DEAL.
4. Factor in the REAL numbers. How much are expenses, upgrades, commissions, rents, etc.?

I gained a few additional insights from John, a full time courthouse steps investor. According to him, if you make 10-15% on a foreclosure, you’ve done mighty good for yourself. Remember, the key to making a profit is how fast you can move the property or turn your money.

John added that many investors seek unfinancable condos. That’s because the more difficult it is to buy a home, the more its value drops. Many investors buy condos to hold for 5-10 yrs, hoping the hoa recovers and the property significantly appreciates. He pointed out that condos in college towns are in fairly high demand because of their proximity to the local campus.

If you’re scouring the marketplace for investment possibilities and want to do some number crunching, I can provide you with a very useful spreadsheet. Just call, tweet, or email me at 949.338.7408, @AngieWeeks, @WeeksTeam, or angie@askangie.com. I’m ready to assist you in any way I can.

Owning Laguna Hills Real Estate May Take Some Creativity

angieweeks — Thu, 02 Jun 2011 17:17:06 +0000

“As Orange County realtors with specialization in Laguna properties, the Weeks team has been successful at helping folks just like yourself actualize your dreams and own a piece of Laguna Hills real estate. It is always recommended that you consult a financial advisor when it comes to a large purchase, but don’t be surprised if you find out that you may qualify as a candidate to own Laguna Hills real estate!” – “Laguna Hills Real Estate – Creative and Savvy Ways to Own”, OC METRO.

Though many people don’t see themselves as potential homeowners, most people with somewhat decent credit just need to think outside the box a little to get into a home. Whether its sharing payments with roommates, using another property as leverge, or having a family member co-sign, it may take creativity to get that Laguna Hills real estate you’ve always wanted. Find out what some creaive homeowners did to afford their Laguna Hills real estate!

Click here to read the full article, entitled, “Laguna Hills Real Estate – Creative and Savvy Ways to Own”.

Making the Orange County Move Green Style

angieweeks — Sun, 29 May 2011 20:30:43 +0000

Whether you’re moving into or out of an Orange County home, you probably have a ton of stuff to lug along on your journey. And that, of course, means you’ll be needing an assortment of boxes and other packing materials for the thousand and one household belongings you’ve accumulated over the years. Now what if you could get your hands on the required packing materials and be a friend to the environment all at the same time? You can with Green Packaging. This outstanding service will provide you with everything from boxes made of recycled materials to biodegradable poly bags. Once you have the needed boxes, make sure you reuse the heck out of them. And when the hard-working boxes have served their purpose, give them to somebody else to use over and over and over again. Both the recipients and our planet will appreciate the gesture.

But packing is just a starting point. Here are a few other eco-friendly solutions for folks on the move –

Don’t trash unwanted items. De-clutter by connecting with CraigsList or freecycle.com. And be aware that the Habitat for Humanity Restore will gladly accept virtually any of your donated belongings. After all, one person’s trash is another man’s treasure.
Request a green termite clearance.
If re-doing landscaping, consider using native plants to reduce water use and runoff.

Does anyone else have some eco-friendly suggestions for people on the move? We’d love to hear about them. Just fire off your ideas below. Or tweet @weeksteam with #green.

And be sure to reach out to us if you have any questions. You can connect with our green team at 949.338.7408 or angie@askangie.com, @AngieWeeks or @WeeksTeam.

Orange County Home Staging – need a FAST sale?

kerenshamay — Tue, 03 May 2011 06:48:04 +0000

Many of you have heard of Home Staging and thought “OK, maybe, but does it really work? Is it really worth the money?”

Last night I got a call from a home-owner I worked with at the end of March to pick up some props. When I staged their house I left some items behind and told them to give me a call when the house sells so that I can pick them up. In today’s market houses usually sit for a few months before an offer is made so you can imagine my surprise when I got the call. What happened? Why did they ask me to come pick up the props? Surely the house could not have sold so fast.

Orange County home sells 4 Days after staging – accepted offer was above asking price!!!

Let’s look at how much this staging saved them. For each month that a house is on the market a seller has to pay mortgage, utilities, insurance, taxes and any other owner related bills. Assuming the average mortgage is around $2,000 that is a lot of money spent each month the house is on the market. Knowing that, how much would you be willing to pay for a service that can help sell your house faster? Would it be worth $1000 to save months of those expenses? My services for this house cost these owners well under $1,000 and we used only what was already there. The owners were still living in the house and had everything we needed on hand.

If you are considering selling your house make the investment in Staging. It will save you so much money in the long run, and get your house sold much faster.

For more information check out our website dedicated to Orange County Staging!

Flex Your Solar Power – Orange County Solar Options

angieweeks — Fri, 25 Mar 2011 22:07:03 +0000

As we roar into the home stretch of March, I thought I’d squeeze in one more reminder that this is Green & Sustainability Month. Being the environmentally-conscious citizen that I am, I’d like to pitch in by covering one more topic related to the health and well-being of our planet – solar power.

Those of us in mostly sunny California will have no problem tapping into the unlimited supply of energy from our favorite and most important star. There are two great reasons to do so. Not only will this ever-present form of renewable energy save you major bucks on your electric bill, it will go a long way to saving Earth’s rapidly-disappearing natural resources.

But the benefits of this renewable resource don’t stop there. Other characteristics of solar power that make it a superb energy source are:

Non-polluting, unlike petroleum-based fuels.
Low-maintenance — Solar cells have no moving parts. So virtually no servicing is required.
Longevity — Solar cells can last indefinitely.
Versatility – Can power everything from cars to satellites.
Adaptability — Solar power may be more practical than electrical wiring in a remote location.
Quiet — Solar cells silently collect all that energy from the sun.

I recently chatted with Rob Huie of Renew Solar Energy about this very timely topic.

For more great info about putting solar energy to work for you, please visit Orange County Solar Company, Renew Solar Energy. And, of course, if I can be assistance in any way, don’t hesitate to please feel free to reach out to me. You can connect with me at 949.338.7408 or angie@askangie.com, @AngieWeeks or @WeeksTeam.

Orange County Home Staging: Horrible Odors

kerenshamay — Thu, 10 Mar 2011 04:48:06 +0000

Keren Shamay of Shamay Staging & Redesign Inc. here. I am currently in AZ at Real Estate Investment school. Today’s topic? Fix and Flip. How to do it the right way. What are the hazards? What problems come up? During one of the discussions we ran across a house that had terrible pet odors. The kind that happen after years of more than 5 dogs living in a house, some of which never went outside. Imagine walking into that kind of house as a buyer.

Most home owners do no have that scale of problem on their hands. Many however do have a less offensive version of it. Most buyers may not say anything, but will definitely cross your house off the list of potentials to buy. So as a seller with a pet odor problem, how do you remedy it? The answer that will help the majority of homeowners is paint. Get enough paint to repaint the inside of your house. Go to a store that sells essential oils and get one vial of Cedar-wood and One vial of Orange. Mix 5 drops each of the oils per gallon of paint and paint your walls.

This should solve many of your problems. If it does not fix the problem, call a Stager who is experienced with this process for the next steps. You are at a point where you may need much more than basic staging advice. They will be able to help you resolve the toughest of issues. As a home Stager I am very familiar with this remedy, and the next steps should they be needed. No matter who you use, a Stager along with your Realtor are your best allies in getting your house sold.

Orange County Moving Company Offers YOU a 10% Discount

angieweeks — Wed, 26 Jan 2011 21:25:21 +0000

If you’re moving or planning to move, the Weeks Team has a great way to eliminate headaches, as well as save time and money. We’re teaming up a with an amazing group of local professionals who’ve dedicated themselves to making your move as simple and hassle-free as possible.

Bigs & Smalls Moving & Storage Services is Orange County’s premier moving service. And when we say service, we mean FULL service. They’ll do the packing, the moving, or both. They’ll even help with storage. So you can focus on the million and one other things screaming for your attention at moving time.

And right now you can get 10% off of their services. All you have to do is mention me, Angie Weeks. Trust me. My name carries a lot of weight.

So save money, time, and hassles when you’re ready to make your big move. Contact Bigs & Smalls Moving & Storage Services today. And be sure to mention the very influential Angie Weeks for your 10% discount.

And, of course, I’m ready to help when you want to find the ideal place to move to. You can connect with me at 949.338.7408 or angie@askangie.com, @AngieWeeks or @WeeksTeam.

Happy Moving!

11 Great Reasons to Buy an Orange County Home in 2011

angieweeks — Sat, 01 Jan 2011 05:59:03 +0000

A New Year means new opportunities. And one place you’ll discover opportunities galore is in the Real Estate market. It’s true. I did some poking around and came up a whole slew of great reasons to buy an Orange County home in 2011. Here’s 11 for 11 –

Low Interest Rates – Right now they’re at historic lows. But don’t expect them to linger in the basement forever. The time to act is NOW. Be sure to consult a certified mortgage planner for details.
Real Estate is a Great Long-Term Investment – Stocks may rise and fall, but you can pretty much count on the home you buy to appreciate in the long term. There’s plenty of historic precedent for this phenomenon. So get in while the gettin’s good.
Motivated Sellers – They’re out there in droves. And they want out of their houses quick-like. And you thought after-holiday sales were the only bargains.
Avoid High Rents After Retirement – Better to own a home than owe a landlord.
OC Boasts Three of the Safest Cities in the U.S. And if that isn’t enough, you can add the county’s award-winning schools, beautiful open spaces, great shopping and entertainment, and a well-earned reputation as a hub of high technology.
You now can buy a Newport Beach mansion for under 40 Million dollars. At minimum, you can nab a $17 million reduction from the original asking price! Got a few extra million greenbacks to plunk down on a home?
Your neighbor could be one of the ‘Real Housewives of Orange County’. By merely borrowing a cup of sugar, you could wind up with a guest spot on the show. Sugar-borrower today, reality TV star tomorrow!
Orange County is unlike any place else in our solar system. What makes us so gosh darn special? Let’s start with a diversity of industries that keep the county’s economy and per capita income growing stronger every day. Orange County also boasts a bounty of blue ribbon schools, fantastic year-round climate, and a delightfully friendly environment. The cheery OC picture is rounded out by scenic mountains, nature-carved canyons, and 40 miles of spectacular ocean frontage.
Great shopping for every mood, taste, and budget. Fashion Island, The District, and Irvine Spectrum are among the county’s numerous first-class shopping destinations. Where else in the country can you take your family AND poodle to dine and shop in the middle of winter?
Great Benefits for Newlyweds – Tell family and friends you’re saving for your first home! Various loan options allow you to put only a very small amount down on your dream home. Even better, the source of the funding can be ‘gift money’. Wouldn’t you rather use this dough for a down payment than for the acquisition of imported tea cups that will just linger unused in a crowded cupboard. Plus you won’t be throwing cash away into that abyss known as apartment rent.
The Weeks Team – As Orange County Real Estate specialists, we’re available for ALL your housing needs! The Weeks Team offers you customized home searches and the VERY BEST in customer service and satisfaction. Let’s work together to get you and your family into an Orange County dream home!

If you’d like to learn more about finding the ideal Orange County home, I’ll be delighted to help. You can connect with me at 949.338.7408, angie@askangie.com, @AngieWeeks or @WeeksTeam.

Have a Happy and Prosperous New Year!

‘Tis the Season to Beat the Burglar

angieweeks — Wed, 01 Dec 2010 07:31:54 +0000

It just doesn’t balance out. Only one person will sneak into your beautiful Orange County home this holiday season and leave nice things for you. But there are hundreds who’ll be more than happy to slip into your comfy crib and permanently remove things – often very valuable things. Known as burglars, these predators luv this time of year – empty houses, lots of expensive gifts inside. Remember ‘Home Alone’?

Fortunately, a little knowledge goes a long way in minimizing the chances of burglary. The key to protection is being aware of burglar behavior patterns.

A burglar always:

Looks for newspapers piled up on the driveway. Talk about giveaways. An especially enterprising crook might even leave a flyer on your front door to see how much time elapses before the literature is removed.
Knocks first. And not out of politeness. If someone answers, a burglar will have a ready-made excuse – “Can you please tell me how to get to Albuquerque?”
Checks dresser drawers, bedside tables, and even medicine cabinets.
Avoids kids’ rooms (usually).
Leaves a locked safe locked but will gladly carry it away if not bolted down.
Is more deterred by a loud TV or radio than even the most sophisticated alarms.
Goes all out to never resemble a crook.
Hates loud dogs and nosy neighbors.
Loves people who forget to set alarms, shut windows, and lock doors.

Don’t give a burglar the gift of an easy break-in. Be guided by the above behavior patterns, and stay several steps ahead of the crooks.

If you’d like to learn more about protecting your Orange County home this holiday season, I’ll be delighted to help. You can connect with me at 949.338.7408, angie@askangie.com, @AngieWeeks or @WeeksTeam.

New Incentive Brightens Picture for Orange County Homebuyers

angieweeks — Thu, 30 Sep 2010 06:42:57 +0000

More good news for Orange County homebuyers. Fannie Mae has a new seller assistance incentive for Fannie Mae-owned properties listed on the company’s REO website, HomePath.

What’s it all mean for those of you in the market for a home? Just this. If you’re a qualified buyer, you could receive up to 3.5 percent of the home’s final sales price.

This extra cash may be redirected into closing cost assistance, including any available home warranty. That’s a hefty chunk of change pouring right back into your pockets, folks. Of course, you’ve got to qualify for this wonderful offer. Here are the conditions in no particular order –

Initial offers must be accepted on or after September 23, 2010.
Property sales must close on or before December 31, 2010, with the closing to take place within 60 days of offer acceptance.
Buyers must be owner-occupants and confirm that the property will be their primary residence by completing a certification form (investors are excluded).

For more information about the incentive, visit HomePath. And, of course, I’m always on board to help. Feel free to call, text, email, or tweet me. I can be reached at 949.338.7408, angie@askangie.com, @AngieWeeks or @WeeksTeam. Looking forward to hearing from you soon!

Homebuyer Advice on Purchasing an Orange County Relocation Home

angieweeks — Tue, 28 Sep 2010 16:19:59 +0000

I recently closed a sale on a fantastic Orange County relocation home, which in this case happened to be a flip. To my delight, the buyer was extremely pleased with both the house and the service provided by yours truly. Always plenty of decisions to be made when making a home purchase; even more so when jumping to an entirely new locale.

Great feeling knowing I could make it a smooth transition. Then I figured, hey, the buyer would want to do likewise for other people purchasing an Orange County relocation home. So I asked what they would advise folks in this situation. Here’s what they had to say on several key topics –

Online Searches – Great for info gathering, but don’t rely solely on photos. Many times they can present a picture that’s much prettier than the reality. A lot can be masked by touch-ups, the right angle, etc. It’s very important to visit the actual home before you fall in love.
Working With a Relocation Company — It’s your right as a home buyer to know what’s going on. So keep after them to make sure they’re following through with everything they’re supposed to be doing.
Buying a Flip — Confidence is the main factor here. Most flips feature recent improvements, so there’s a major reason to feel good about them. Overall, you want to make sure you’re completely confident you’re getting the right house at the right price.

Good advice. All of it. If you’d like to learn more about purchasing an Orange County relocation home, I’m ready to help. Feel free to call, text, email, or tweet me. I can be reached at 949.338.7408, angie@askangie.com, @AngieWeeks or @WeeksTeam. Looking forward to hearing from you soon!

Fighting Foreclosure in Orange County

angieweeks — Tue, 28 Sep 2010 15:46:57 +0000

The present foreclosure stats tell a grim story. Hard-working folks are losing their homes in alarming numbers. Fortunately, people facing foreclosure in Orange County are not as defenseless as they think. That’s why I’ve started this informative new blog series — Fighting Foreclosure. It’s all about helping people discover the options and resources they have when facing the prospect of losing their home.

The series kicks off with some valuable information from Shaun Smith, a specialist in foreclosure delay in Orange County. According to Shaun, the first thing you should understand is that banks don’t actually carry out the foreclosure action. They appoint a trustee to do the dirty work, including getting your home sold at auction. Now here’s the really crazy part. Unlike other states, California has no judicial-monitoring system in place to oversee trustee actions. So guess what? In order to expedite the process and maximize both bank and personal benefits, trustees invariably commit violations. Sometimes a lot of them. And who loses? Of course — the beleaguered homeowner.

Shaun’s service, Mortgage Crisis Remedies, combats these abuses and basically buys the homeowner time so they can remedy their non-performing loan. That could mean everything from continuing with a loan modification, short sale, or walking away with the cleanest possible credit record.

How does Shaun’s service accomplish all of this? By conducting in-depth investigations to discover trustee violations, then offering the trustee the choice of either delaying the home sale or facing sanctions that would result in loss of license. And guess what? That’s right. In a supreme act of self-preservation, the trustee invariably postpones the sale — usually by 1-4 months. This gives the homeowner leverage to bring the bank back to the negotiating table. In a nutshell, Shaun ensures that all legal requirements are met before the house is sold. A judge sure isn’t going to do it.

If you’d like to learn more about foreclosure delay in Orange County, Shaun or any team member on our TEN Dimensions team will be happy to help. Reach out to him at 949.241.0218 or shaun@mortgagecrisisremedies.com. And breath a lot easier.

Am I Ready to Buy a Home in Orange County?

angieweeks — Tue, 14 Sep 2010 16:42:00 +0000

Alright, you’ve decided to make the big move. You want to own a place of your own. Congratulations! You’ve definitely taken a major step toward a more rewarding lifestyle and a more secure financial future. And right now you’ll discover a fantastic selection of excellent Orange County homes for sale. Of course, buying an Orange County property is very much like buying a home anywhere else. You have to be prepared. Otherwise stock up on aspirin, because you could be in for some major headaches. Here’s a handy checklist of four steps you can take to be home purchase-ready.

Have at least 3.5% of the purchase price saved for your down payment.
Make sure you qualify with a lender.
Conduct online research of the market and of your preferred neighborhoods.
Work with a seasoned professional to avoid ‘newbie’ mistakes when buying your first home.

If you’d like to learn more about buying the Orange County property that’s perfect for you, we’re ready to help. Our team specializes in assisting first time home buyers in Orange County. Not only will we help you find your dream home, we’ll save you hours of valuable time and headaches.

Don’t wait to be in a fantastic house at a fantastic price! Contact me today at 949.338.7408 or angie@askangie.com.

Orange County Association of Realtors Launches Young Professionals Network

angieweeks — Wed, 25 Aug 2010 22:59:20 +0000

Been a long time coming, but it’s finally here. The Orange County Association of Realtors (OCAR) has just started its own chapter of the Young Professionals Network (YPN). And I’m both honored and thrilled to have been named the Vice Chair of the organization.

What’s so good about the YPN you ask? I’d say the answer is best summed up with the organization’s core philosophy: “The orange county professionals network will focus on connecting and engaging young OCAR Realtors through networking opportunities, technology and social media, and professional development. It will do so by capitalizing on its core principals of professionalism and ethics, partnership, policy, pursuing leadership, participation, and promoting home ownership for the next generation. The Orange County YPN will encourage the next generation of Realtors to seize the responsibility of shaping the direction of the association and the real estate industry as a whole.”

As the organization’s Vice Chair, I’d like to offer my professional colleagues an opportunity to share the benefits and camaraderie of the YPN. That’s why I’m inviting each and every one of you to join our close-knit group. Believe me, there’s no better way to learn and grow together as we navigate the challenging terrain of professional Real Estate. In other words, we’re all in this together, folks. The YPN is there to help us make the most of it.

I anticipate great things for the future, thanks to the dynamic and dedicated team of Realtors comprising our board. In addition to myself, all of these board members will be collaborating to shape the future of our YPN and to better serve our clients.

The YPN Board

REALTORS®

Amber Bonasoro

Angie Weeks

Christie Newmeyer

Gary Macrides

Jean Tietgen

Linda Ginex

Marco Marquina

Mark Gundlach

Matt Clements

Nick Wilson

Scott Maeda

Vito Ranieri

Zen Ziejewski

Management Team:

Anthony Bried

Carla Dane

Kevin Holland

Kevin Mulgrew

Bash Flash! — We’re holding our first mixer on Wednesday, Oct. 27^st at 5 pm. If you long to be part of what promises to be an awesome evening of fun at Central Park West in Irvine, let me know with a comment, or just show up!! And if you want additional information about the event, or just want to know more about the YPN, I’m ready to help. You can contact me at 949.338.7408 or angie@askangie.com.

See you on Oct. 21!

Disclosing Advice For Orange County Home Sellers

angieweeks — Mon, 16 Aug 2010 06:42:59 +0000

Disclose Before You Close

When it comes to selling a home, it seems that you just can’t disclose too much. Yes, certain details matter a great deal. In fact, from a legal standpoint, sellers must make these details available to prospective home buyers. And it is the responsibility of every agent to dig deep and make certain these facts come to the surface in a timely matter.

One of the facts that must be disclosed concerns a death that occurs on the property up for sale. The law states that a death must be revealed if it has taken place within three years prior to a home being offered for sale. This is an important piece of information to bring to the surface, is it potentially carries a lot of emotional weight for a would-be buyer. If you’re not sure about disclosing such an occurrence or any other fact you think might be relevant, it’s best to follow the simple, time-tested guideline of ‘when in doubt, disclose it out’.

I can’t stress the importance of over-disclosing facts such as these enough. I mean, think about how you would feel if you were on the other side of the fence and some important detail like this was left out of the picture. Remember, it’s an agent’s job to sell a property honestly – in all its aspect. So you as a home seller should disclose EVERYTHING to the person representing your property. Complete information will help your agent price your home appropriately for all matters involved.

If you’d like to learn more about California home sale disclosure requirements, I’d be happy to answer any questions you might have. Feel free to contact me at 949.338.7408 or angie@askangie.com. And be sure to follow me @AngieWeeks or @WeeksTeam. Looking forward to hearing from you soon!

How Short Sales and Foreclosures Can Affect You

angieweeks — Thu, 12 Aug 2010 01:58:29 +0000

It’s the law of the universe. Every action triggers a reaction. And this law certainly comes into play in the world of foreclosures and short sales. If you’re an Orange County homeowner who’s gonna go through with one or the other, it’s best to know what’s in store for you when the dust settles.

Derek Beisner, a certified mortgage specialist with New American Funding, cites the following as among the most important potential affects of a short sale or foreclosure action. Derek points out that guidelines in this area are always subject to change. But as of this posting, these are some possibilities consumers definitely should be aware of.

With a short sale, the lending institution has the legal right to 1099 the seller for the difference between what the house sold for and what was owed on the property. Bear in mind that this has been changed to a non-taxable 1099 for the years 2010 to 2012.
In a foreclosure situation, a buyer must wait 3 years from the foreclosure date to get an FHA loan. Securing ownership of a property also will require a minimum credit score of 620 and a letter of explanation documenting the reason for foreclosure.

As with any other important undertaking, it’s best to get the input of an expert before plunging into a short-sale. Derek advises speaking to a CPA or Real Estate attorney well in advance of taking action.

After all the foreclosure or short sale dust settles, your credit definitely will need some major repair work. The good news is that credit repair is very do-able. Derek recommends three fundamental steps:

Establish new credit.
Know your credit score.
Consult a credit repair specialist to get things back on track.

If you would like to learn more about Orange County short sales and foreclosures, Derek will be delighted to help. You can reach him 949-637-9939 or derek@derekbeisner.com.