An REO or Real Estate Owned property is a home that’s been through the foreclosure process and is now held by the lending institution. When borrowers default on their monthly mortgage payments, lenders will start foreclosure proceedings beginning with the notice of default, through the pre-foreclosure stage and into the final foreclosure step of the bank taking possession of the home, or REO.

REO homes are often sold by banks at below market values in order to sell quickly. REO homes are expensive for banks to hold because they require maintenance and the bank may have to repay any liens against the property.

Foreclosures that are owned by banks are usually clear of any liens that may have been recorded against the property.
Since the seller of REO homes is also the lender, you may be able to negotiate with the bank to have them pay for all or some of the closing costs.

Bank-owned properties are usually vacant because the banks have evicted the previous owner, saving the investor or homebuyer time, money and emotional toll involved in the eviction process.

The first step is to determine your NEEDS and WANTS.  You NEED a 3 bedroom home, you NEED to be in a good school district, you WANT a yard for entertaining, you WANT to be close to shopping and have freeway access.  Don’t settle for less than what you really want just because there may be a good value on a home.  You and your family need to be happy and without regrets.  We have a reputable system that allows you to search for your dream home 24/7 and uses the latest technology to insure up-to-the-minute information.  Click the home search section on our website and create a search that insures all your NEEDS and WANTS are met.

Buying an REO can be a competitive process.  You want to be ready.  Speak with a mortgage planner prior to starting your search.  You will be pre approved and know exactly what you can afford, factoring in HOA dues, taxes and other fees related to buying your home.  A mortgage planner can assure you of these costs and get you pre approved.
Once pre approved, you can make that offer if you find your dream home.  Most Orange County REO properties are on the market less than 2 weeks, some as little as a few days. 

We can customize a search for you and let you know when an REO/BANK OWNED Property comes on the market that fits your criteria. 

There are amazing values here in Orange County and we at the WeeksTeam are skilled in making one of them your dream home!  We look forward to talking with you about your housing needs and finding you a home that satisfies all your wants and needs!

Tuesday, November 4, 2008 will be a historic day in American History.  Thanks for doing your part and voting.  Here is a link to find your polling place in Orange County:  http://www.ocvote.com/

Now for some fun facts about the United States of America and how YOUR ONE VOTE COUNTS!

FUN FACTS

1.   The state that was the birthplace for the most former presidents is Virginia, with 8 former presidents born there.

2.   The religion to which the most former presidents belong is Episcopalian, with 11 former presidents.

3.   Four of our presidents have won the presidency but not the popular vote.  They are John Quincy Adams, Rutherford G. Hayes, Benjamin Harrison and George W. Bush.

4.   Armored knights used to raise their visors to identify themselves when they rode past their king.  This custom has turned into the modern military salute.

5.   There are over 50 recognized political parties, though many are very small and many are based out of only one or a few states.

6.   Definition: Psephophobia: The fear of voting.

7.   You must be 35 years old to be president, 30 to be U.S. senator, 25 to be a U.S. House member, 18 to be Governor of Vermont and 18 to be a state senator of Vermont.

8.   The youngest elected president of the U.S. was John F. Kennedy, at 43 years old

ONE VOTE MAKES A DIFFERENCE!

1714: One vote placed King George 1 on the throne in England and restored the monarchy.

1800: One vote kept Aaron Burr, later charged with treason, from becoming president.

1839: One vote elected Marcus Morton as the Governor of Massachusetts.

1844: A farmer in Switzerland County, Indiana named Freeman Clark was seriously ill on Election Day.  He had his son carry him to the county seat so he could vote for David Kelso for state senator.  Clark died on the way home from the polling place.  David Kelso was elected state senator by one vote.

1844: Back when state senates elected U.S. senators, the Indiana state senate elected Edward Hannigan for U.S. senate by one vote; that vote was David Kelso’s.

1845: The U.S. Senate passed a convention to annex Texas by a vote of 27 - 25. One of the two critical votes was cast by Senator Hannigan from Indiana.

1850: One vote made California a state.

1859: One vote made Oregon a state.

1868: One vote saved President Andrew Johnson from being removed from office.

1876: President Rutherford B. Hayes was elected by one vote. Here’s the full story: His democratic opponent Samuel Tilden won the popular vote, but came up one electoral vote shy of a majority.  Twenty electoral votes were under dispute because political tactics were so shady. Congress appointed a commission of eight Republicans and seven Democrats to resolve the issue of the disputed electoral votes. The members voted along party lines, and so the Republicans, with a majority of one, voted to give all 20 of the electoral votes to Hayes, thus making him the President.

1889: One vote made Washington a state.

1890: One vote made Idaho a state.

1920: Tennessee ratified the 19^th amendment, which allowed women to vote, by one vote.  Tennessee was the last state needed for ratification.

1941: One vote made the term for selective service 2 ½ years instead of 1.

We at the WeeksTeam look forward to helping you with your housing needs.  This remains a GREAT TIME TO BUY A HOME.

Good news from JPMorgan Chase.  Read this article from www.businessweek.com

 In what may the biggest sign yet that banks are getting serious about attacking the nationwide wave of home foreclosures, giant JPMorgan Chase (JPM) announced on Oct. 31 that it is sharply ramping up its efforts to restructure the loans in its massive mortgage portfolio. For the next 90 days, JPMorgan will not place any new homes into foreclosure.

The banking behemoth, which acquired troubled lender Washington Mutual on Sept. 25, says it hopes to modify terms for 400,000 homeowners, accounting for $70 billion in loans. Among the steps it is taking: eliminating toxic “pay option” loans, offering new loan terms to homeowners before they default, and hiring an additional 300 loan counselors to bring the company’s total to 2,500. “While Chase has helped many families already, we feel it is our responsibility to provide additional help to homeowners during these challenging times,” said Charlie Scharf, head of Chase’s retail financial services, in a prepared statement.

The JPMorgan Chase announcement comes as the U.S. bailout strategy seems to be shifting from the initial approach of having the Treasury Dept. buy $700 billion worth of troubled mortgage assets from lenders, to investing directly in big banks to spur more loans (BusinessWeek, 10/29/08), and now toward a coordinated effort to restructure loan terms for individual borrowers. Federal Deposit Insurance Corp. Chairman Shelia Bair has been pushing to have the federal government take a more active roll in loan restructurings (BusinessWeek.com, 10/30/08). The effort could be modeled after the fast-track mortgage modification program the FDIC put in place after taking over failed IndyMac bank in July.

More Than 2.2 Million Are 60 Days Late
The banking and mortgage industries have been criticized for not doing enough to prevent foreclosures and to modify the terms of troubled loans. According to the most recent data compiled by the Hope Now Alliance of lenders, counselers, and other industry players, lenders started the foreclosure process on 565,000 homeowners in this year’s third quarter. Some 265,000 homes were actually foreclosed on, nearly twice the number from the third quarter of 2007. Moreover, more than 2.2 million homeowners are more than 60 days delinquent in their mortgage payments, also a near doubling from last year.

The Hope Now Alliance was put together to keep borrowers in their homes. However, while Hope Now says it reached loan modification terms with 593,000 borrowers in this year’s third quarter, only 265,000 actually had the terms of their loans changed. The rest merely entered into payment plans, typically where the bank agrees to be repaid past-due payments and late fees over time. Mortgage industry critics say borrowers aren’t really out of danger unless the interest rates or principal is reduced, lowering monthly payments.

With IndyMac, the FDIC is reducing interest rates (BusinessWeek, 10/8/08), typically for five years, in an effort to keep borrowers’ payments to no more than 34% of their monthly income.

No More Pay-Option Mortgages
JPMorgan Chase says it’s reviewing its entire portfolio to determine which homeowners may be in trouble. The company says it will eliminate pay-option ARMs, a controversial type of adjustable-rate mortgage that allowed borrowers to defer part of their monthly payments, rolling the difference onto the principal they owed. Borrowers were often enticed to take such loans by the lower payments but now find themselves owing even more on their dwellings, even as home values have slid. A recent study by research firm First American CoreLogic found nearly one in five borrowers in the U.S. owes more on a home than it is worth.

New York City-based JPMorgan Chase also says it will proactively contact borrowers with prequalified offers to reduce their interest rates or loan principals and establish 24 new regional counseling centers to provide face-to-face help in markets with high delinquency rates. Many borrowers in trouble say it is difficult to reach lenders when they want to renegotiate loans. Many often feel they have to stop making payments to get a bank’s attention.

On Oct. 6, Bank of America (BAC) announced a settlement with attorneys general in 11 states that involved an aggressive loan modification program involving 400,000 borrowers and $8.4 billion in interest rate reductions. Bank of America’s Countrywide division had been accused by state officials of putting borrowers into loans they couldn’t afford during the boom just so it could resell those loans to Wall Street at a fat profit. Bank of America acquired Countrywide in July. 

We at the WeeksTeam feel this news from JPMorgan Chase is very positive and hope more banks follow in their progressive footsteps.  Contact your lender for more information on loan modification and contact us for all your housing needs.  It remains a GREAT TIME to buy a HOME. 

If you are looking to buy a home in Orange County, you are making a wise investment.  The “OC” is ranked #7 in the country for median home values for top-ranked US counties.  In fact, 8 of the 10 counties are here in California with the only Southern California county being Orange County.

6 Orange County cities ranked among the 25 cities with the highest home values in the Country; Newport Beach, Irvine, Huntington Beach, Mission Viejo, Costa Mesa and Yorba Linda.

This means, it is really a BUYERS MARKET.  Home prices may be dropping, but still at a level where they are considered the best in the country.  The advantage of course is you, as a buyer can buy your dream home NOW and know you made a secure investment.

With FHA options financing 97% of your loan, you come up with ONLY 3% down. This 3% can come from GIFT MONEY which is money given to you for this down payment, from family, friends, employers, anyone or anywhere.  Consider this option when signing another year on your lease (apartment or home) or putting off buying, thinking that you don’t have the money for the down payment.

The WEEKS TEAM is here for you and your housing needs.  Don’t sign another year on that lease before you look at the options of owning your dream home!

Special thanks to William Jordan, our favorite Orange County financial planner, for taking time out from his hectic week to help educate our clients on what is REALLY going on with the economy right now.  Mike & I highly encourage all of you to call your financial advisors this week, and if you don’t have a financial advisor, go and talk to William at his Laguna Hills office - he rocks :) 

It’s an earthquake!
 
This week, the financial markets were shaken with an earthquake unlike almost anything we have seen in our lifetimes!  The one similar example is the infamous “black Monday” on October 19th, 1987.  On that one day, the stock market dropped over 500 points for the first time ever.  A decline of more than 25% which dwarfs the declines we saw this week.
 
So what do we do?  Panic?  Run for the hills?  Convert your cash to gold and start buying ammunition?  Of course not.  But to hear it discussed in some circles, that’s exactly what should happen.
 
On Monday evening, I was interviewed on CNBC in the midst of the “AIG crisis”.  Yet another massive financial firm experiencing financial duress.  I was asked what my counsel was to people who have been told to “buy and hold”.  The point I made was that this is a call to arms for people to get their financial houses in order.  Too many people have been speculating financially, and the results are as we have seen.
 
For many people, including most of my clients, this was an expected though unwelcome event.  We know that bear markets and financial downturns will happen.  In fact this bear market has currently been less severe than the average bear markets we have seen in the past!  It certainly doesn’t feel like it, but it’s true.
 
So what do you do?  For starters, do a complete financial physical on where you are at.  You need to examine your assets as well as your debts.  Look in detail at your investment holdings, and decide if you need to make changes.  Don’t make changes for just any old reason, but with a practical and well thought out plan. 
 
As I pointed out in a separate CNBC appearance a month ago, this is a great time to sell highly appreciated assets and pay capital gains.  Those tax rates are still very low historically, and are likely to rise in the future.  You can use the proceeds to pick up some excellent investments that are trading well below their values.
 
Bottom line is, like in any earthquake, don’t panic!  Stop and pick up the pieces.  Make new plans moving forward, but make them with a clear mind and well thought out options.  It’s a perfect time to meet with your financial planner if you have one, or find a new one if yours isn’t up to the task. 
 
Earthquakes happen.  Those who are prepared and don’t panic will be okay.
 
William Jordan, President of The Sentinel Group, Inc, is a well respected speaker and media resource for quality financial advice.  He’s been interviewed by CNBC, Forbes, The Wall Street Journal and was a featured financial expert in Kiplinger’s September cover story.  You can reach William Jordan at (949) 380-8600 or visit www.SentinelOC.com.

Yes, this is a blog about Orange County real estate.  But this week Mike and I have invited a couple guest bloggers to get involved, because you can’t get real estate without financing and loans.  Right now the media is all over what happened with IndyMac bank, and Fannie and Freddie.  We want you to hear from local mortgage and financial EXPERTS, not just the media, what is really going down, and how it may affect you and your current home loan situation.   The following info has been provided by Derek Beisner, one of our trusted OC CERTIFIED Mortgage Specialists.  We encourage your comments, rants, and other expert opinions on this post too!! 

 Uncertainty in Financial Markets Could Cause Dramatic Rise in Existing ARMs at Next Adjustment
If you or anyone you know has an Adjustable Rate Mortgage, this is an important point to consider. Many ARM loans are tied to the London Interbank Offered Rate (LIBOR). In fact, there are six million loans in the United States that use LIBOR to determine the interest rate and as the name suggests, many banks use this rate to lend money to each other.

But, today, banks lack confidence that the money they lend will be paid back. In light of what has happened with Lehman Brothers, IndyMac Bank and others, as well as AIG, banks are requiring much higher rates on LIBOR to offset the added risk.

The Federal Reserve Left Rates Unchanged but…
The Federal Reserve met yesterday leaving the target rate unchanged at 2.00% but just like LIBOR the actual rate being charged by banks to each other is closer to 6.00%. This again suggests that those with ARM loans should consider a refinance into historically low fixed rates.

What Happened?
Financial companies have been under attack. IndyMac was the largest bank to falter in twenty years. What brought IndyMac down was their exposure to defaulting loans. This sapped investor confidence and drove down the stock price until they filed for bankruptcy.

Following IndyMac, we saw Fannie Mae, Freddie Mac, Lehman Brothers and Merrill Lynch succumb and were either forced into conservatorship, to close their doors, or to sell themselves. AIG, the world’s largest insurance company was also impacted, forced to make a deal with the U.S. government to stay in business.

What You Can Do Now?
ASK AN EXPERT!  DON’T try to figure out this complicated situation yourself!!!!  I’d be happy to go over your loan situation and help you understand how the recent events may affect you, and how you can best be protected. Additionally, chaotic times like these often present opportunities. I look forward to hearing from you.

Derek Beisner
Certified Orange County loan advisor
http://www.DerekBeisner.com
949-637-9939

Why pay rent when YOU can AFFORD to buy your DREAM HOME!

We may have told you this before, but it is a  FIRST TIME BUYERS MARKET now!  Did you know:

• A very popular FHA loan allows you to put ONLY 3% DOWN on your dream home!   
  You can finance 97% of your loan!
• This down payment can come in the form of GIFT MONEY which can be money given to you from a relative, employer, or any other source, and repayment does not have to be implied or proven to the lender.  It is simply MONEY GIVEN TO YOU for the down payment!
   

The opportunities to buy your first home here in Orange County are endless.  Every city has desirable properties for sale that qualify for FHA and other financing incentives.

• It is simple, not overwhelming to start the process.  Let us know your wish list.  What cities interest you, what ammenties are important to you, consider schools, commute, conveniences, etc… We will customize a search and send you properties as they hit the market.
• Talk with a home loan specialist.  Find out exactly what you can afford.  Factor in the mortgage, taxes and homeowners association dues if applicable.  We can find out which properties are FHA eligible and help you every step of the way.

Once you know what you can afford… GO FOR IT!  Think of what matters to you most… the future of your family in your amazing new home.  Contact us at THE WEEKS TEAM for credible and sincere Loan Specialists and to create that wish list that puts you in your dream home SOONER than you imagined!

THE TIME TO BUY IS NOW… Take advantage of all the current incentives!

On July 30, 2008 President Bush signed into law H.R. 3221 which is the “Housing and Economic Recovery Act of 2008,”. The Housing and Economic Recovery Act of 2008 is a $300 Billion program to help homeowners that may be in trouble, avoid foreclosure, and to boost confidence in the currently slow housing market in California. This legislation could have very positive results on the housing and mortgage industry, but there are time lines to consider.

The first thing that stands to impact many home buyers is the elimination of what is known as seller down payment assistance for FHA loans, also known as gift money, where you can be given money for your down payment without showing that as funds in your bank account, or assets you have accumulated.

However, as the legislation is written, this will be eliminated for home buyers effective October 1, so the countdown… If you are in the market to buy your first home, start the process NOW.

The other really exciting piece is that for first time home buyers, they have a window to qualify for up to a $7,500 tax credit. The tax credit will be 10% of the purchase price of a home, up to a maximum of the full $7500 credit. The tax credit will have to be paid back over a period of 15 years…but Washington just provided first time home buyers a 15-year interest free loan to help them buy a home!

We are here for you and have all the resources available to buy your first home or move into a new home. Contact us at the Weeks Team for all your housing needs.

There is important new legislation that is beneficial to first time home buyers. We strongly recommend you take advantage of this tax credit by the deadline of mid-2009. Thanks to J. Lennox Scott, for the following information about The Housing and Economic Recovery Act of 2008.

Buying smart in today’s market got a little easier recently following the signing of the Housing and Economic Recovery Act of 2008 by President Bush. There are significant advantages to assist first time buyers, such as a repayable first-time home-buyer tax credit. First-time buyers are important to the health of the housing economy because their home purchases help to stimulate the economy. Through the home-buyer tax credit, buyers who are purchasing for the first time or who haven’t owned a property in the last three years can now qualify for a tax credit equal to 10% of their home purchase price, up to $7,500.

It is important to note that to qualify, the home must be purchased between April 9, 2008 and July 1, 2009. The credit phases out if the buyer’s income exceeds $75,000 for an individual or $150,000 for a couple filing jointly and it must be paid back over a 15 year period in equal installments. The credit can be claimed on the buyer’s 2008 tax return even if the purchase is made in 2009 (it’s important to note that this is a tax credit and not a tax deduction).

Another key point of the housing bill includes much needed FHA modernization which aims to adjust loan limits so that they are more aligned with current home values. The bill allows Fannie Mae and Freddie Mac to serve more home-buyers by raising loan limits in high cost areas above the standard conforming limit to 115 percent of the median house prices and up to 150 percent of the conforming loan limit.

The Housing and Economic Recovery Act is expected to play a critical role in strengthening the housing market and overall economy. The last time Congress passed legislation like this in the 1970s, the housing market saw a significant increase in activity.

The passing of the Housing and Economic Recovery Act marks the beginning phase of the next ten-year housing cycle in which prices in the more affordable markets will only continue to appreciate. This landmark legislation will contribute to the stabilization of the overall real estate economy.

The Weeks team strongly believes this is a buyers market and can customize a home search for you that fits your lifestyle. Contact us for more information. We are here for all your housing needs!

The Chino earthquake on July 28 was the largest since the Northridge earthquake, over 14 years ago!  Here are some earthquake safety tips from Doug Copp the Rescue Chief and Disaster Manager of the American Rescue Team International (ARTI), the world’s most experienced rescue team.  We can’t promise all these tips will succeed, but they are logical and written by an expert! 

TIPS FOR EARTHQUAKE SAFETY-CREATE A TRIANGLE OF LIFE

Cats, dogs and babies often naturally curl up in the fetal position. You should too in an earthquake. It is a natural safety/survival instinct. You can survive in a smaller void. Get next to an object, next to a sofa, next to a large bulky object that will compress slightly but leave a void next to it.

Wooden buildings are the safest type of construction to be in during an earthquake. Wood is flexible and moves with the force of the earthquake. If the wooden building does collapse, large survival voids are created. Also, the wooden building has less concentrated, crushing weight. Brick buildings will break into individual bricks. 

 If you are in bed during the night and an earthquake occurs, simply roll off the bed. A safe void will exist around the bed. Hotels can achieve a much greater survival rate in earthquakes, simply by posting asign on the back of the door of every room telling occupants to lie down on the floor, next to the side of the bed during an earthquake.

 If an earthquake happens and you cannot easily escape by getting out the door or window, then lie down and curl up in the fetal position next to a sofa, or large chair.

 Never go to the stairs. The stairs have a different ‘moment of frequency’ (they swing separately from the main part of the building).
The stairs and remainder of the building continuously bump into each other until structural failure of the stairs takes place. The people who get on stairs before they fail are chopped up by the stair treads - horribly mutilated. Even if the building doesn’t collapse, stay away from the stairs. The stairs are a likely part of the building to be damaged. Even if the stairs are not collapsed by the earthquake, they may collapse later when overloaded by fleeing people. They should always be checked for safety, even when the rest of the building is not damaged.

 Get Near the Outer Walls Of Buildings Or Outside Of Them If Possible - It is much better to be near the outside of the building rather than the interior. The farther inside you are from the outside perimeter of the building the greater the probability that your escape route will be blocked.

 People inside of their vehicles are crushed when the road above falls in an earthquake and crushes their vehicles; which is exactly what happened with the slabs between the decks of the Nimitz Freeway. The victims of the San Francisco earthquake all stayed inside of their vehicles. They were all killed. They could have easily survived by getting out and sitting or lying next to their vehicles. Everyone killed would have survived if they had been able to get out of their cars and sit or lie next to them. All the crushed cars had voids 3 feet high next to them, except for the cars that had columns fall directly across them.

I discovered, while crawling inside of collapsed  newspaper offices and other offices with a lot of paper, that paper does not compact. Large voids are found surrounding stacks of paper.

Although these tips may be best for a large magnitude quake, it is always smart to be prepared and knowledgeble when the next one hits Southern California.

We receive so many inquiries from families looking for homes in the Mission Viejo High School district.  Mission Viejo not only offers great schools and amazing shopping, and surrounds beautiful Lake Mission Viejo.

We want to share with you 2 homes that are new on the market and can’t be missed!  Both will “wow” you and we can show you these and other spectacular deals in the Mission Viejo community that you can call your dream home!

ONE OF A KIND TOWNHOME
In the Painted Trails community, this home has been completely remodeled and resembles a “crate and barrel” model home!  Many upgrades include high end appliances, a chefs gourmet kitchen, custom cabinets and a great outdoor area for entertaining.  Low taxes, 3 parks, wilderness trails and award winning schools make this a MUST SEE!

LOCATION IS EVERYTHING!
This single family home is immaculate and in the Pacific Hills community, situated at the end of a cul de sac.  Priced to sell, the owners will consider all reasonable offers, and the listing price is lower than others in the area.  This home has been painted, inside and out in June 2008 and offers a huge backyard, walking distance from soccer and little league fields, and adjacent to schools.  PERFECT for your family!

I recently found myself bored while my husband was out watching sports so I tuned into HGTV to see if anything interesting was on.  Luckily for me “Design On A Dime” was being broadcast.  This is an awesome show that has really helped me as an Orange County Realtor.  Design On A Dime gives tips on how to sell your Orange County ca. home.  The home stagers on this show come up with some fantastic creations that save home owners thousands all the while making homes sparkle.

I have begun using tips from this show (as well as other HGTV shows) to sell the homes I represent in Orange County.  I find myself constantly amazed by the creations that these home stagers come up with and just how much money they save.

I’d now like to share with you some of my favorite tips from this show.

1. De-clutter - Serious.  Nothing else matters without it.  Not your version of de-clutter, either.  A professional organizers seal of approval is what’s going to get you an offer in.
   
2. Make it yourself.  In this economy, your elbow grease can pay off.  go ahead, Use that scrap wood to make a clutter container, a mantle, a masterpiece!
   
3. Improvise.  If you want affordable design, you can’t be set in your ways.  I loved the way they sewed together 3 bathmats to make a rug.  There is always a cheaper solution if you are creative enough to improvise.  And that MDM wood is a great option too!
   
4. Recycle.  I love the flea market dumpster diver approach!  One mans trash truly is another’s treasure, so don’t be afraid to take something, fix it up, and make it yours.  Plus it’s the green thing to do!  Also, if you’re doing demo remember to call habitat for humanity.

Should you have any questions about these tips or if you’d like to share your tips with me, please contact me.

Hey all you “on the fence” Orange County renters, Wachovia has Mortgage solutions designed to meet your individual needs!

When you set out to find or build the perfect home, it’s important to have choices. The same is true when deciding on your mortgage. With a variety of fixed and adjustable rate government loans, competitive rates and exceptional service, Wachovia Mortgage can help you design a mortgage program to suit your needs.

FHA Loan
• Up to 97% financing available for 1-unit properties.
• Fixed and Adjustable Rate loans available.
• Easy qualification and flexible credit guidelines.
• Seller can contribute to the transaction.
• Non-permanent Resident Aliens eligible.
 
VA Loan
• Up to 100 percent financing on 1-unit properties.
• Fixed andAdjustable Rateloans available.
• Easy qualification and flexible credit guidelines.
• Seller can contribute to the transaction.

To find out more about Wachovia Government Mortgage Programs, please call:

Mark Frazer
Mortgage Consultant
5830 Naples Plaza
Long Beach, CA 90803
Direct: (562) 930-1477
Fax: (562) 856-8725
Mark.Frazer@wachovia.com

The Orange County real estate market is just like every other real estate market in the United States.  Some years it’s a buyers’ market and some years it’s a sellers’ market.  These ebbs and flows are all normal and natural and understanding how to use them to your benefit is what can land you a great house at a low price when you buy and a huge profit when you sell.  Buy low and sell high is the motto all real estate investors live by.

For instance, right now is a buyers’ market.  When you buy a home in the Orange County real estate market now, you get it for a LOW, LOW price.  In 5 or 10 years, the home you buy today will probably be double what you paid for it.  That’s a huge profit.  So if you buy today at a low price and sell in a few years when the market is once again booming, you can really make a ton of money.

Whether or not you’ve ever thought about buying a home, if you want financial security and are looking for a great investment, buying a home in the Orange County real estate market is your best bet right now.  No other investment is going to give you the kind of return that real estate can.  The best way to get started is to get pre-qualified for a home loan.  It takes a few minutes to get a pre-qualification and will give you a price range for the properties you can afford.  Even if its not much, any investment is better then none.

Once you know what you can afford, you can start looking ASAP.  Check out available Orange County homes on my web site, or shoot me an email at Angie@AskAngie.com if you have questions.  And remember, NOT taking advantage of this slow market could cost you thousands and thousands of dollars.

The Orange County real estate market is suffering.  Last month alone, there were over 2400 Orange County foreclosures on the market.  And while that spells bad news for sellers trying to make a huge profit on their homes, its great news for buyers looking to cash in on the falling home prices in the area.

When banks foreclose on a property, their goal is to recoup as much of their money as possible, and to do it quickly.  Sitting on a home for months does the bank no good – especially when they have thousands of Orange County CA foreclosures to deal with.  That’s why right now is a great time for buyers to get into the market.  Not only can you already find reduced home values in general, but if you choose an Orange County bank-owned home then you will most likely pay an even further reduced price.

Since there are tons of Orange County foreclosures on the market right now, it’s really in your best interest to get the help of an Orange County realtor to help sort through which properties hold the best potential and value for your future.  You’ll want to make sure you know exactly what you’re getting – so CALL a REALTOR TODAY!

You can also get a list of all Orange County foreclosures, Orange County CA REO homes (real-estate-owned), and Orange County CA auction homes to get you started.  Just shoot me an email at Angie@AskAngie.com with your contact info and I will be glad to get a list to you.

Planning a wedding can be quite stressful – believe me I know.  Now add to that trying to save for a new Orange County home.  You can imagine the pressure many brides feel when they are not only trying to plan the perfect wedding, but also find the perfect home to start their new life.  If you’re an Orange County bride, chances are you know exactly what I am talking about and would love any help you can get to make your dream of owning a home a reality.

Well luckily there is a new, free service called Vow2Save that helps brides and grooms save for a new Orange County home.  Vow2Save is an online down payment registry service that allows you to “register” for a new home and invite guests to donate to the cause in lieu of other, more traditional gifts.  It really is a great way for Orange County brides and Grooms to quickly make their dreams of home ownership a reality – and after all, isn’t a new home better then a toaster oven or a crock pot.

Check out Vow2Save today for all the cool details about setting up a registry.  And as always, if you have any questions, shoot me an email at Angie@AskAngie.com.

Selling a home in today’s Orange County real estate market can be a bit tricky.  The market is not nearly as hot as it was a few years ago and selling a property can take quite some time, especially if you are still pricing your home based on old market standards.

Sure, a few years ago you could ask some exorbitant price for your Orange County property and sell your home in no time with a huge profit to show for it.  Unfortunately, that’s just not the case anymore and an overpriced home will simply sit on the market for months and months without a singe offer. 

So how do you price your home for sale?  Well the first thing you should do is find and experienced Orange County realtor to help you understand what homes in your neighborhood are worth.  Your realtor will provide you with a list of homes in your area that have sold in the last few weeks and what they have sold for.  This will help you determine a realistic asking price for your property.  Also, if you’re competing with homes in your area that are foreclosures or short sales, you may find that you have to dramatically lower your asking price to sell.

Remember – your home’s value is not based on what you think your home is worth or on how much you owe on your loan – its worth what buyers are willing to pay.  If you want to sell your Orange Countyhome and you want to do it quickly, call a realtor you trust.  If you need help, feel free to shoot me an email at Angie@AskAngie.com.

If you’ve recently purchased your first home you probably have a long list of things you would like to do to decorate.  After all, it’s now your home and you want it to reflect your style, personality and what’s important to you. Unfortunately, you may not have the budget right now and we’ve got a GREAT way to pesonalize your home with a professional look without the professional price.

Hanging artwork and photos in your new home really shows visitors insight into your life.  Custom framed artwork and photos is so expensive. We recently tried to frame a 20″ x 24″ portrait at a local frame store and the price we were quoted was $400. Buying posters and puting them in inexpensive frames can really save money. Ikea, TJ Max and Ross are some of our favorite places to buy posters, frames and framed art. Great looks and even better values.

Our HOT TIP of the day for framing family photos and getting the “custom framed” look is this. Measure your photo you want to frame. Go to TJ Max and shop for an already framed piece of art with similar measurements. Example: your photo is 16″ x 20″. Plan on matting the photo with about 2″-4″ on each side. So, a 16″ x 20″ photo with need a frame aproximately 18″ x 22″ or 20″ x 24″ opening. Take your photo and your new fram to JoAnn’s or Michaels and get new matts cut to match your photo. Ask them to put the matts, photo and frame together for you so it’s all done right. You will get the custom look for a fraction of the price!

It looks WONDERFUL and everyone will think you paid the BIG bucks. Our 20″ x 24″ portrait cost us $85 in our new frame and matts. Shhhhh! Don’t tell our guests.