Orange County Real Estate

Tax Benefits For Home Owners – Make the Most of Orange County Real Estate

Posted on February 11, 2013. Filed under: First Time Buyer help, Informed Investor Alliance, Making Life Easier, Orange County Real Estate | Tags: , , |

As an Orange County Realtor, I can’t technically offer advice on taxes, but I always try to network and meet great tax professionals who can help our clients! Today I sat in on a great session by Irene Mack, CPA, and I wanted to share some notes and insight with you. Irene’s website is http://www.oc-cpa.com if you have any particular questions – she is always happy to talk taxes with you :)

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Homeowner Tax Benefits

- Mortgage debt relief on up to 2 million loss ($1M if married / filing separate)

Will California extend our debt relief? The answer is still up in the air, but there is a bill on the table. This concerns many homeowners who are thinking about a short sale, so be sure to contact your legislators and let them know you want an extension!

Energy Tax Credits for Homeowners

- many have a $500 max lifetime credit
- some include on site installation costs, some don’t, so be sure to check
- must be on principal residence
- includes central air
- allows tankless water heaters
- solar
- geothermal
- energy star

California Short Sale Tax Benefits

Sb931 focuses on 1st Trust Deed, and ensures lien holders can’t come back to homeowners for deficiency judgement after the short sale.

Sb458 focuses on 2nd trust deeds, and this law came a little after sb931 to help homeowners steer clear of judgements from 2nd mortgages and HELOCs.

Equity Sale Tax Benefits

- No taxes on $500k profit for married couples
- No tax on $250k profit for single filers

Capital Gains Taxes

Will you be taxed if you sell for a profit? Yes, unless your profit is below the $500k/$250k mentioned above.

- Long term (1 year and one day+) is determined on your tax bracket
- It’s best to keep your home ‘long term’ when it comes to taxation

First Time Homebuyer Tax Credit

- 2008 credit – when your home is no longer your personal residence, the balance of repayment becomes due immediately instead of over 15 years, so be careful!

-2009-2010 credit – 36 months of primary residence is required, most of you are almost ready to move up with no penalties ;)

Wow!! Taxes are confusing!!! Make sure to consider your tax benefits and / or penalties when you go to sell your home in Orange County. Irene’s number is 714-957-6936 if you’d like more info.

Remember The Weeks Team is here to help you navigate through tough real estate waters. Be sure to call 877-230-3211 or comment here if we can help you in any way!

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Condo in Orange Coming on the Market!!!

Posted on December 14, 2012. Filed under: First Time Buyer help, OC Property Profiles, Orange County Real Estate | Tags: , , , , , , |

Hello Buyers! A brand new condo is coming on the market in the community, Arroyo Santiago, of Orange. The Orange Condo is a very beautiful Sanctuary with 2 beds and 2 full baths. While enjoying your quiet little private patio, you can get a beautiful view of the city lights and voluptuous view of the mountains in the distance as well. The community has beautiful walkways and parks throughout. The Condo has a warm cozy fireplace for all to cuddle up and stay warm in the living room for the chilly holidays. The condo has some beautiful new lighting and fans throughout, along with freshly painted walls and brand new carpet installed as well. The Community is a small quiet collins ave_back 1community that consists of only 71 units.  If you or someone you may know is interested please don’t hesitate to give The Weeks Team a call. (949) 388 – 7408

Address:
3340 E Collins Ave.
Orange, Ca 92867

The Weeks Team
angie@askangie.com
949 388 7408

 

collins ave_front 3

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California Real Estate Forecast 2012 – 2013

Posted on November 6, 2012. Filed under: First Time Buyer help, Home Seller Tips, Informed Investor Alliance, Orange County Real Estate | Tags: , , , , , , , , , , , , , , , , |

    If you are interested in what is to come in Orange County real estate, then listen up as Leslie Appleton Young has provided us with some great insights.  We had the chance to attend one of Leslie’s recent luncheons, and she gave us great information we needed to know for the upcoming Real Estate shift.

As mentioned in our recent video summary on YouTube (embedded below), Leslie stated California Realty is a “Bright Spot in the California Economy; and that the bottom has been reached and is on its way up.”  We also found demand is starting to grow, big time!  83% of Real Estate investors are buying to hold.  57% of homes in Orange County are recieveing multiple offers of more than asking.  There are an average of 4.3 offers per property!!!  Homes are flying off the market right now as well – the average days on the MLS is cut in half from a year prior.  Southern California Median home prices are up 14.3 %. Things are looking much better for Orange County and California real estate in general…great news!!

Are you ready to get your Orange County home on the market and upgrade?  Call The Weeks Team…877-230-3211

CALIFORNIA REAL ESTATE FORECAST 2013

  2008 2009 2010 2011 2012f 2013f
SFH Resales (000s) 441.8 546.9 492.3 497.9 523.3 530.0
% Change 27.3% 23.8% -10.0% 1.1% 5.1% 1.3%
Median Price ($000s) $348.5 $275.0 $305.0 $286.0 $317.0 $335.0
% Change -37.8% -21.1% 10.9% -6.2% 10.9% 5.7%
30-Yr FRM 6.0% 5.1% 4.7% 4.5% 3.8% 4.0%
 1-Yr ARM 5.2% 4.7% 3.5% 3.0% 2.8% 2.8%
f = forecast

Contact info:
The Weeks Team
949 – 338 – 7408
angie@askangie.com

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Mission Viejo Real Estate Statistics – Time to build that portfolio!

Posted on November 1, 2012. Filed under: First Time Buyer help, Informed Investor Alliance, OC Property Profiles, Orange County Real Estate | Tags: , , , , , , , , |

Mission Viejo Real Estate is selling like no other! Homes come on the market and are off just like that. Here are some of the stats for Mission Viejo Real Estate, but 1st I will allow you to view the meanings of each before anyone is confused as to what each stand for…

  • Active - indicates the property is on the market and accepting buyer offers.
  • Backup – means the home has technically accepted a buyer offer and is sold, but the buyer is still in his/her contingency period of due diligence investigations and full loan approval.  California buyers get 17 days after offer acceptance to complete all contingencies and inspections.
  • Pending – implies all contingencies have been removed on this listing and its only a matter of time until close.
  • Closed – entails the buyer’s loan has funded, and title has officially recorded in the new owner’s name.

There are a few other status’ you may see:

  • Hold – property is on hold and not being shown to new buyers for various reasons. (there are 36 of those right now)
  • Cancelled – means the property listing was cancelled by the owner before a sale took place.
  • Expired – indicates the listing agreement on the home for sale expired before a sale occurred.
  • Withdrawn – similar to cancelled status, this property has been withdrawn from the market.

Current Mission Viejo Real Estate Statistics

Active: 108
Attached: 19
Detached: 89

Back Up: 154

Pending: 107

Closed (last 30 days): 114

Now lets compare these stats with last years Mission Viejo home statistics.

Average Sale Price in Mission Viejo 1 Year Ago: $416,951
Average Sale Price in MV in the Past 30 Days: $428,500

Avg. Square foot price 1 year ago: $231.31
Avg. Square foot price Today: $280.77

Avg. Days on Market 1 year ago: 93
Avg. Days on the Market Now: 76

We are currently moving towards a seller’s market in Mission Viejo.  There are an average of 4.5 offers for every one property, and we are seeing properties sell in 1 day or even before they hit the MLS!!  Now is a perfect time to move up and get more square footage for less than ever before. If your interested in upgrading your home, or adding to your Mission Viejo real estate portfolio, please contact The Weeks Team 888-281-7665 for more info on how you can take advantage of this ideal real estate opportunity!

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Rent verses Buy Orange County Houses

Posted on October 23, 2012. Filed under: First Time Buyer help, Making Life Easier, Orange County Real Estate | Tags: , , |

Orange County houses and kids

Orange County houses and the effects of homeownership on kids

We recently read an interesting article by Tara Steele in AGbeat.com about the affects of homeownership on children.  Have you ever thought about how owning a home has influenced your kids?  Has it at all?  According to the article, children had lower dropout rates and lower teen birth rates if they lived in a home their parents owned.This research is consistent with Habitat for Humanity’s as well.  Habitat has been studying the effects of homeownership on kids for years.  Here are some great benefits they have discovered:

Compared to children of renters (of the same age, income, race, etc.), children of homeowners:

  • Are 25% more likely to graduate from high school
  • Are 116% more likely to graduate from college
  • Are 20% less likely to become teenage mothers
  • Have 9% higher math scores
  • Have 7% higher reading scores
  • Have 3% fewer behavior problems
  • Are 59% more likely to own a home within 10 years of moving from parent’s household
  • Save taxpayers an estimated $34,000 in public expenditures (i.e. the cost of juvenile delinquency, teenage pregnancy, etc.) that would have been spent had they remained in rented housing.

Why Bother with an Orange County House?

Well, do it for your kids!  And for yourself.  One of the things today’s article mentioned was the duration doesn’t matter: “The impact of homeownership is particularly important for households with short lengths of tenure.”  This is new insight as previous studies did not really consider short term effects of homeownership.  Many of our clients choose to rent because they are not sure how long a particular job will last, or if they will stay in California for years to come.  With our current market, it really doesn’t matter because rent vs own prices are very similiar.  As most already know, owning will have much greater financial benefits in the long run.  Now it looks like it also has greater benefits to the family as a whole!

What is owning a home teaching your children?  Consistenty?  Commitment?  Finances?  There are so many ways to set a good example to your children through homeownership.  Not that they couldn’t learn these things from a family who is renting, but as the article says, you have more “skin in the game” when you own a home.  No, owning an Orange County house won’t guarantee your child wins the spelling bee or gets a scholarship, but it does teach them some very valuable long term lessons.

If you would like to explore more about what homeownership could mean to you and your family, please register to search for Orange County houses on our http://properties.askangie.com website today, or call us toll free at 877-230-3211.

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Why Buy Orange County Property NOW?

Posted on June 6, 2012. Filed under: First Time Buyer help, Orange County Real Estate | Tags: , , |

Orange County Property is a great investment for TWO reasons right now:

  1. Home prices have dropped SIGNIFICANTLY in the last 5 years, the median home in Orange County is now an affordable $435K!
  2. Loan rates are the lowest they’ve been in 20+ years.  A picture is worth 1000 words:

Reproduced with the permission of Mortgage-X.com

If there were ever a time to buy Orange County property, its now.  Renters are renting properties that they could be buying for the same price or LESS.  Down payments are affordable, and banks are even allowing ‘gift money’ if you haven’t been able to save your down payment.

Call us NOW 877-230-3211 before this window of opportunity closes.  The presidential election is coming up, and that can frequently cause uncertainty in the economy, which can drive up interest rates.  Questions?? tweet @angieweeks or call one of our preferred lenders for info!

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California Home Buyer Recovery Timeline – do you agree???

Posted on May 25, 2012. Filed under: Home Seller Tips, Informed Investor Alliance, Orange County CA Foreclosures, Orange County Real Estate, Orange County Short Sales | Tags: , |

ImageHappy Memorial Day!!  We hope you have a nice and relaxing long weekend planned :)   Here’s an interesting email we received about homebuyer recovery from the folks at FirstTuesday.us and Barry Zanck, one of our preferred lenders.  What do you think?

California Home Buyer Recovery

2005-2009 California economic development stagnates.

2007-2009 The Great Recession

2009-2010 The Federal Reserve takes direct control of long-term interest rates – all new mortgages are Fed funded by bonds.

2009-2016 The Lesser Depression, characterized by persistent slow job growth and low demand from home buyers, while dominated by speculators.

2010-2015 Home sales remains on a “bumpy plateau” recovery approximating their 2010 numbers. The state’s homeownership rate drops below 55% (state’s historic point of stability) to near 50%. Collectively, short sales, foreclosures sales and REO resales remain high.

2012-2013 The most likely bottom for home sales volume to users, followed by an extremely gradual sales volume recovery for lack of user demand. Apartment construction begins to rise noticeably in response to tenant demand.

2014-2015 Prior low pricing and low interest rates spark a bounce in home sales volume. This bounce is short-lived, as the Federal Reserve raises rates to control the pace of recovery and prevent momentum buying. Property prices keep pace with the rate of consumer inflation. Speculators holding SFRs acquired two or three years earlier begin to dump them

2014-2016 Home sales stabilize. Shortsales, foreclosures, bankruptcies and REOs remain high. 300,000-400,000 new jobs are created annually for a return to the December 2009 peak level. Generation Y begins to come of age and buy homes.

2016-2017 Full recovery mode for employment, home sales, then pricing. SFR construction rises, though no where near Boom-time heights.

2017-2018 Interest rates rise again.

2018-2020 Excess inventory of vacant homes finally returns to pre-recession levels. Generation Y begins to pick up homebuying activity en masse. Homeownership in California is at 50%.

2020-2025 Negative equity homeowners who refused to strategically default finally work their way out of debt and return to a stable financial status, the poorer for it.

2025+ Home prices return to peak levels of 2006. The lessons of the Great Recession forgotten, and home sales hedonism returns. The mistakes of the past are repeated and the cycle continues.

We agree that we are probably at the bottom right now, as we’re already seeing an uptick in California homebuyer interest, and a decrease in inventory.  We disagree that interest rates will stay low until 2017…..although wouldn’t that be nice???!  We also agree (unfortunately) that the lessons of the past will be forgotton by 2025, and the market will again cycle.  It always does!

What do you think?  Please comment below or tweet us @angieweeks or @weeksteamShould you be interested in buying ‘at the supposed bottom’, please call us at 877-230-3211, and we’re happy to show you homes over this Memorial weekend!

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Selling a Laguna Beach Home? Profit Creatively.

Posted on April 6, 2012. Filed under: First Time Buyer help, Orange County Real Estate | Tags: , , |

Wow — as a realtor, I’ve seen every kind of creative financing imaginable for Orange County homes. But this is my first encounter with ‘creative currency’ – literally. That’s right. A wonderful client of mine is hoping to buy a Laguna Beach home with a very unique form of currency — her highly-valued art collection. We’re talking a magnificent, museum-worthy selection that includes several first prize winners. In other words, pure creative gold worth a small fortune.

Here are highlights of this incredible offering:

  • The collection consists of 133 pieces formerly owned by the woman’s father, artist and Laguna Beach resident Fredrick Milton Rash.  His Laguna Beach art gallery was a popular meeting ground for many members of the creative community.
  • These stunning artworks encompass everything from portraits to landscapes, oil and water color. The collection features several first-prize winners, as well as artworks that Mr. Rash created for Howard Hughes. This includes renderings of the Spruce Goose, a portrait of Maurice Chevalier, and many other notable projects.
  • For many years, Mr. Rash also provided striking artistic renderings for the covers of Orange County Executive Magazine, as well as the memorable stadium programs of the L.A.Rams football team.
  • Various pieces from the collection, as well as stories about Mr. Rash, have been featured in prominent magazines. An Arizona curator once had wanted to display the collection in that state’s art museum.
  • Prior to settling in Laguna Beach, Mr. Rash traveled extensively to work with various art groups and teach classes.

If you’re an art lover intrigued by this unusual offering and are interested in considering this stunning collection in exchange for your Laguna Beach home, please contact us here at the WeeksTeam. We’ll ready to set the wheels in motion for this unique opportunity.

You can connect with me at 949.338.7408,  @AngieWeeks, @WeeksTeam, or  angie@askangie.com.  I’m ready to assist you in any way I can.

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

Posted on January 2, 2012. Filed under: First Time Buyer help, Making Life Easier, Orange County Real Estate | Tags: , , , |

First time buyer Orange CountyAs 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!!

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Do You Qualify for a Loan Modification?

Posted on November 10, 2011. Filed under: First Time Buyer help, Lenders & Loan info, Making Life Easier, Orange County Real Estate | Tags: , , |

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.

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Why Loan Modifications Are Great For Investors

Posted on November 9, 2011. Filed under: Lenders & Loan info, Orange County Real Estate | Tags: , |

You all know that Orange County homeowners can reap substantial rewards from loan modifications.  But were you aware that loan mods are a great avenue for investors as well? Believe it or not, most investors can qualify for this excellent financial option. Here’s a quick overview by Mike Hatcher, seasoned modification advisor with the Ascent Network

Here at the Ascent Network, a faith-based, non-profit organization, we offer a number of outstanding options for investors. Thanks to our experienced and knowledgeable team, we’ve helped thousands of clients since 2007.  And one of the major ways is by securing loan modifications for investors. Why should you pursue a loan mod if you’re an investor? Here are the five top reasons:

1.   Income qualification is based on Profit and Loss (P&L), which we help put together for you, not your tax return. A P&L is a great asset. That’s because, depending on your debt to income thresholds, deductions may or may not be applied to ensure the best fit for a client.

2.   Our average, the investor modification rate is 4.25-4.5%

3.   This is a fixed rate.

4.   The term typically is 30 years, with some going as long as 40 years. For the record, 30% of lenders consider a 40-year term.

5.   We negotiate successful outcomes with 80% of our clients.

Would you like to learn how modification can help you leverage the value of your investment property to put more cash in your pocket on a monthly basis? Call Mike at 877.871.2400 x15, and boost the cash flow from your investment property.

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.

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First Time Homebuyers Have a New Reason to Rejoice

Posted on September 1, 2011. Filed under: First Time Buyer help, Making Life Easier, Orange County Real Estate | Tags: , , |

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.

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A Good Deal Starts With a Realistic Investor Strategy

Posted on September 1, 2011. Filed under: First Time Buyer help, Making Life Easier, Orange County Real Estate | Tags: , |

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.

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Don’t Just Upgrade, GREENgrade!

Posted on June 5, 2011. Filed under: First Time Buyer help, Home Improvement Ideas, Orange County Home Improvement, Orange County Real Estate | Tags: |

Alright, you’re thinking about upgrading your home. But along with those new faucets, fresh paint, and vinyl tiles, did you ever consider all the eco-friendly improvements that will add pizzazz to your property and boost the health and well being of our planet? These days, the possibilities for GREENgrading your home are virtually limitless. The choices fall into three budget categories.  Here are a few suggestions from each category –

LOW COST

  • Use CFC or LED light bulbs – Far more energy efficient than conventional bulbs
  • Insulate hot water heater – Can reduce standby heat losses by 25%–45%
  • Install motion sensors in offices and other common use area conference rooms to turn off lights when not in use
  • Install water efficient restroom fixtures – Reduces water use and saves you big bucks
  • Provide recycle bins

MEDIUM COST

  • Tune up HVAC – Improves both efficiency and comfort
  • Replace hardwood flooring with bamboo or cork floors – Will keep your home warmer in the winter and cooler in the summer.
  • Insulate attic and other areas
  • Buy recycled office products and equipment
  • Provide on-site bike room to encourage environmentally friendly commuting

HIGH COST

  • Buy ENERGY STAR appliances – Lower utility bills, better performance, and greater durability.
  • Replace roof with reusable/recyclable materials
  • Replace cabinets with sustainably harvested wood and low-VOC finishes – This type of wood comes from a certified wood harvesting site, not an unsustainably logged region, which can have a negative impact on the environment. Low VOC substances have less odor and impact on air quality.
  • Implement super energy efficient transformers – Reduces energy use and CO2 emissions.
  • Implement on-site water reclamation system – Save water and money on water bills.

Those are just a few of the GREENgrading options you can take advantage of. Hopefully you have some of your own eco-friendly tips. 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.

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Owning Laguna Hills Real Estate May Take Some Creativity

Posted on June 2, 2011. Filed under: First Time Buyer help, Making Life Easier, Orange County Home Improvement, Orange County Real Estate | Tags: , , , , , , , , , , , , , |

“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”.

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Home Grown Tips For Landscaping Green

Posted on May 31, 2011. Filed under: First Time Buyer help, Home Improvement Ideas, Orange County Home Improvement, Orange County Real Estate | Tags: |

Alright, you’ve decided to enhance the value and the beauty of your Orange County home with some first-rate landscaping. In preparation, you’ve no doubt pondered issues like space, style, and plant choice until your head hurts. But have you stopped to consider the environmental impact of your home improvement  project? The good news is that you can boost the beauty of your home and help keep our planet green simply by considering factors like water use, runoff, and sustainability in your landscaping strategy.

How Green is Your Roof?

One good way to score high points in these areas is by growing native fruits and veggies on your property. Indigenous plants already fit perfectly into the ecosystem. Since this type of foliage naturally belongs in the region, it requires less irrigation and less pest control than your average outsider. To save even more precious H2O, group together all plants with similar irrigation needs.  Plants that drink together, save water together.

You’ll also want to retain the maximum amount of natural landscaping. Keeping an abundance of native plant life in place does wonders to minimize runoff.

On the fertilizing front, composting is an effective, eco-friendly way to liven up your soil.  Check out Home Depot. They offer an excellent selection of easy composting solutions that will jump start your future of fertilizing.

OK. That’s it from this end of the planet. Does anyone else out there have some eco-friendly landscaping suggestions? 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.

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Making the Orange County Move Green Style

Posted on May 29, 2011. Filed under: First Time Buyer help, Making Life Easier, Orange County Real Estate | Tags: , |

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.

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What Does Green Mean?

Posted on May 23, 2011. Filed under: First Time Buyer help, Home Improvement Ideas, Orange County Real Estate | Tags: |

We all want a greener planet earth. But exactly what does green mean?  This is a tough question to answer. Seems everyone has a very personal set of standards.

As far as housing goes, you know your home is making the green grade when it’s blessed with a high LEED rating, Energy Star certification, or HERS score.

One thing green doesn’t mean is bland functionality pitifully short on good looks. Just feast your eyes on this selection of remodeling solutions to see the excitingly aesthetic side of eco-friendly.

Interested in introducing some eco-friendliness to the place where you hang your hat?  Try these to enliven your Orange County home with green goodness.

But deduct major points if you dispose of non-green refuse in a landfill. Far better to recycle, renew, or reuse.  Maybe you’ve heard of Habitat RE stores or freecycle.com?  Both are superb remodeling or updating partners.

No doubt you have your own ideas about eco-friendly. So what do you think makes a household green? Feel free to fire off your comments below. Or tweet @weeksteam with #green.

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

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Brownfields, Greyfields, and Greenfields…How They Impact Your Community

Posted on May 15, 2011. Filed under: First Time Buyer help, Orange County Real Estate | Tags: , |

Chances are you’ve heard the terms brownfields, greyfields, and greenfields. But do you know what the differences are? A basic familiarity with these terms can help you make a tremendous impact on your community. Here’s the quickie course:

  • Brownfield  – This is a former industrial site, particularly the kind filled to the brim with hazardous contaminants. Among the contaminant-oozing culprits are former dry cleaning facilities and gas stations.
  • Greyfield – This is the designation for a large structure such as a shopping mall or commercial facility that has been abandoned. What remains, of course, is a large, empty development used only by assorted rodents, insects, and other creatures that have no place better to go.
  • Greenfield – Undeveloped section of land. Rapidly becoming a rarity.

Is there a brownfield or greyfield upsetting the natural balance of your own Orange County community? Consider joining forces with your neighbors to convert one of these eyesores into a thing of beauty, such as a spectacular new commercial building. A great example is the NAR headquarters in Washington, DC. This impressive structure was built on a former brownfield and has achieved lofty LEED silver status.

Are there any brownfields or greenfields in your Orange County community screaming for your attention? We’d love to hear about it. Just fire off your comments below.

And if you’d like to learn more about contributing to an eco-friendly community, you can connect with our green team at 949.338.7408 or  angie@askangie.com,  @AngieWeeks or @WeeksTeam.

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How Sustainable is YOUR City?

Posted on May 8, 2011. Filed under: First Time Buyer help, Orange County Real Estate | Tags: |

Imagine a city designed with a major focus on environmental impact. As part of the plan, all citizens would strive to minimize usage of energy, water, and food, as well as waste output of heat, air pollution, and water pollution. This is a description of a sustainable city. And with green consciousness on a rapid rise, count on a lot more of these eco-communities developing in the future.

Our ‘green team’ has put sustainable cities high on the list of topics to stay in tune with. In the process, we’ve compiled a list of measurements that apply to this type of community:

• length of commute to work
• air quality
• surface water runoff
• greenhouse gas emissions
• road congestion
• housing affordability
• locally grown food availability
• amount of parks and greenways
• percentage of trucks that use alternative fuels
• car pooling / car sharing initiatives
• public transportation
• city sustainability departments

Did you ever consider how your own beloved city compares to other sustainable cities? Find out at Sustain Lane. And if you’d like to go a bit more global, you can learn how your own country compares by checking out Yale University’s environmental performance index.

As part of the Weeksteam green effort, we’ve integrated with Walk Score in order to provide a walk score on our listings whenever you search for Orange County property. It’s all part of our commitment to helping you create a satisfying sustainable lifestyle. Register today to get your property listed, complete with walk score and much more.

If you have any further questions, don’t hesitate to reach out to me. You can connect with me at 949.338.7408 or angie@askangie.com, @AngieWeeks or @WeeksTeam.

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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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