Archive for September, 2011

Orange County Properties – Not on the Market Yet!

Posted on September 15, 2011. Filed under: First Time Buyer help |

796 W Lambnert # 157, La Habra, Ca
Condo  (not listed)

1 bed/ 1 bath
700 sq feet
approx list price to be 125K

6029 Moraga, Riverside, Ca

SFR
3 bed/2 bath
2500 sq ft
single story
no HOA
coming to market soon, no price yet
estimated price to be 200-230K

30542 Paradise Palm, Homeland, Ca 92548
 

Senior living mobile home with golf course
2 bed 2 bath
2040 sq ft
Listing Price: $65,000

7223 Comstock #C, Whittier, Ca
Condo

2 bed/2 bath
1291 sq ft
assoc pool/spa
HOA $225
good condition
model match in escrow for $225K
List price is $213,000
7722 Friends Ave, Whittier, Ca
SFR needing a lot of work

1234 Sq Ft
3 bed/ 1 bath
NO HOA
detached garage
28549 Cilla Ct, Romoland, Ca

Coming to market

SFR
4 bed/2 bath
1460 sq ft
tenant occupied
No pictures
Call Angie Weeks (949.338.7408) directly if you’re interested in any of these properties 🙂
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Help with Your Down Payment – Just Approved!

Posted on September 15, 2011. Filed under: First Time Buyer help |

If you’re in the market for a new home, but don’t have enough money?  Now your problems are solved!  Kara Collacott, of Essex Mortgage, just told us about a new down payment assistance program for ANYONE, not just first time buyers!  This program will give you 3% down for an FHA loan.  The qualifications are:

*ratios 39.9/49.9

*1 month cash reserves after closing

*AUS accept only

*Single Family Residence or approved Condos/PUD NO UNITS

*Purchase Only

*Borrowers must complete 8 hour home education program

*Must have 90 day income and expense analysis with no payment shock

*Buyer is allowed to move without needing to refi or sell the property

Seems easy enough with a promise of living in the house of your dreams!  Contact Kara at (714) 935-2581 ext. 294, or on her cell:  (714) 469-2629, or e-mail her directly at kcollacott@essexmortgage.com if you have any questions or want more information!

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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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    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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