Orange County Real Estate Success

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    First Time Home Buyers Have New Opportunity

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    Program is a Wish-Come-True for First Time Home Buyers

    The door of opportunity has just swung wide open for first time home buyers. Those eager to get their first place now can get substantial down payment assistance through a dynamic new resource called the Wish Program. 

    Bruce Lawrence, a loan officer at Pacific Mercantile Bank in San Juan Capistrano, is delighted his bank is offering this service. Naturally, borrowers must meet certain criteria. Bruce points out that in order to qualify for the program, prospects must be verifiable first-time home buyers. As long as you haven’t owned a home for at least three years, you’re considered a first timer. So this need not be your very first home.

    Now here’s the really good news! First-timers can now receive a 3:1 match on home buyer contributions, eligible for properties throughout the state of California, and use in conjunction with FHA Financing.

    If you’re an interested first time home buyer, the next step is easy. Simply contact Bruce Lawrence at 949.235.5353 or bruce.lawrence@pmbank.com. He’ll be happy to provide you with further details or schedule an appointment.

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    Sharing the Orange County First Time Buyer Experience – 2

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    First Time Buyer Mike Aragonez

    Not too long ago, I bought my very first home. It was right here in Orange County. The whole thing was new to me, of course. So when I first started house-hunting, I had no idea what it would be like. Luckily, it turned out to be a relatively smooth experience.

    The first thing I learned is that the right Realtor can make all the difference in the world. That’s why it’s important to get someone you’re totally comfortable with. In my case, I decided to go with Angie Weeks. It was definitely the right choice.

    First of all, she was very professional in her approach. I’d say she combined kindness with a ‘go getter’ personality. Whatever needed to get done, got done. In record time.

    Not only did things get done, they got done according to my wishes. I had very definite ideas on what I wanted in a home and community. Angie listened to every single thing I said, then got to work to make it all happened. I’d say she works real hard to go the extra mile and make sure her customer is satisfied. It’s obvious she really has a good heart.

    As I said earlier, your Realtor can make all the difference in the world. It’s a good idea to invest some time to find one who’s the right fit. You wouldn’t believe what a big help it is, especially if you’re a first-time home buyer.

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    Foreclosures vs. Short Sales

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    What’s the Difference Between a Short Sale and a Foreclosure?

    Plenty. For those who’ve been involved in either, it’s a good idea to know what those differences are and how either one will impact your future. Here’s how it breaks down.

    • If you’ve been foreclosed upon, you need to disclose this fact on mortgage applications for the next seven years. Short sellers have nothing to disclose since they’ve avoided foreclosure.
    • A foreclosure lowers credit scores considerably. Short sales don’t hit your score nearly as hard.
    • Foreclosures remain on your record for seven years. Short sales appear on your record as ‘paid’.
    • Security clearances can be canceled or denied because of a foreclosure. A short sale doesn’t affect the vast majority of security clearances.
    • People in sensitive jobs could be terminated because of the poor credit caused by a foreclosure. Short sales don’t impact current employment.
    • Same holds true for future employment. Applicants with poor credit can be denied. Short sales don’t affect job applicants.
    • In certain cases, a lender might be able to get a deficiency judgment against someone they’ve foreclosed upon. Short sellers can negotiate with a lender to discharge the loan when the property is sold.
    • Lenders are required to file a form 1099a, which a foreclosed upon party might need to report as taxable income. With short sales, lenders must file a form 1099c. Short sellers may need to report this as taxable income.

    Those are the differences in a nutshell. Obviously, foreclosure comes with a much heftier price than a short sale. If you’d like to learn more about the ramifications of both short sales and foreclosures, I’m ready to help.  Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    Save Time Buying a Home in Orange County

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    Time-Saving Tips Guaranteed to Make Home Buying Easier

    When buying a home, most of us are so focused on saving big bucks that we often forget there’s another important element well worth saving – time. The sad fact is, far too many house hunters waste hours and hours in their well-intentioned searches for the ideal residence. No, they don’t have too many spare minutes on their hands. Rather, they simply aren’t aware there’s a better and more efficient way to go about it. The better way consists of 5 simple steps guaranteed to dramatically reduce time-waste and make home hunting a much more delightful experience. Please keep in mind that the steps work best when taken in the following order:

    1. Talk to your friendly lender to see what you’re pre-qualified for. Unless you’d rather squander tons of time looking at properties that will get you a big NO from the bank.
    2. Save precious gas and hours by conducting online searches in your chosen cities and price range. To bolster this process, make certain you get daily email updates of new properties hitting the market.
    3. Once you narrow your prospects to a chosen few properties, motor over to the community with your agent and make sure the locale is to your liking.
    4. Choose your top 2 communities. Time goes a lot further when you narrow your focus to a few select locales. Wandering indecisively is a major time gobbler.
    5. Purchase the property that comes up next in your preferred community. There’s no need to wait any longer, is there? Never let a great opportunity slip away.

    Follow these five steps when buying a home in Orange County, and you’re sure to minimize your search time considerably. If you’d like to learn more, I’m ready to help. Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    Califorinians to Benefit From Home Buyer Tax Credit

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    Home Buyer Tax Credit is Gift for Golden State

    The California government has done it. And thousands stand to benefit. No, they’re not giving away money. But they’re doing something close to it. On 3/25/10 Governor Schwarzenegger signed the Home Buyer Tax Credit into law. That means, fellow Californians, if you’re a resident of the golden state, you could be eligible for hefty tax savings when you step up to buy a home.

    So How Much Are We Getting? 

    The legistlation, officially known as AB 183, has earmarked $200 million for home buyer tax credits. $100 million is available for qualified first-time buyers of existing homes. The other $100 million has been allocated for people purchasing new or previously unoccupied homes.

    Who Can Take the Credit?

    Any eligible taxpayer who buys a qualified personal residence between May and December of 2010 or a qualified principal residence between Dec. 31, 2010 and August 1, 2011. The credit is equal to the lesser of 5% of the purchase price or $10,000, and is to be taken in equal installments over three consecutive years. The law further stipulates that buyers must reside in the home for a minimum of two years. Otherwise they have give up the credit, most likely in the form of repayment to the government. Basically, if you don’t stay, neither does the money. So plan on hanging around for awhile.

    Seize the Opportunity

    No doubt about it. This newly-enacted home buyer tax credit is a golden opportunity for residents of the Golden State. Not only does the legistlation spell major savings, it also eliminates the need to rush headlong into a home purchase before April 30, 2010 – the day the federal tax credit expires.

    If you’d like to learn more about the home buyer tax credit, I’m ready to help. Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    How to Choose the Right Realtor

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    The Importance of Choosing the Right Realtor

    It hurt a bit. But I had to do it. I gave away a cash buyer this past week. Really had no choice. The woman simply was a better fit for another Realtor. You see, I work primarily with email. And she lacked this mode of communication. A rarity, of course. But in this case, a reality. All of which has inspired me to dig deep into my reservoir of knowledge and share some thoughts on the importance of choosing the right Realtor.   

    Obviously, you’ll want the chosen one to demonstrate plenty of market smarts, as well as the willingness to help you feel comfortable. But once these basic requirements have been fulfilled, there are other things to consider.

    First, you’ll want to make sure your modes of communication are compatible. Do you want a techie? A phone talker? Someone who tweets or chats it up on Skype? Provides digital contracts? Remember, it’s all about what YOU want in an agent. So make sure yours is on the same communications wavelength.

    Naturally, the more confidence you have in your Realtor, the better. So be certain a Realtor’s license is displayed on his or her website. It’s your assurance of a certain level of professionalism.

    Another thing to make sure of is that the person you’ve chosen is a Realtor, and not just an agent. What’s the difference? In order to qualify as a Realtor, an agent must be a member of the National Association of Realtors (NAR). That puts Realtors one gigantic step above ordinary agents. Among other things, membership in NAR carries with it a whole set of ethical guidelines as presented in the organization’s Code of Ethics and Standards of Practices. We at Weeks Team are proud to say we are full-fledged Realtors!

    ‘Nuff said. Follow these few steps, and you’ll soon be well on your way to connecting with the right Realtor. Happy Hunting!

    If you’d like to learn more about connecting with the right Orange County Realtor or about Orange County Real Estate, I’m ready to help. Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    Sharing the Orange County First Time Buyer Experience

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    First Time Buyer Brett Olson

    Recently, I bought a home in Orange County – my first. Like most first-timers, I really didn’t know what to expect. But it wasn’t long before my uncertainties began to vanish. That’s because I had a super Realtor there with me every step of the way. Angie Weeks really knew the ins and outs of the Orange County Real Estate marketplace. And she was there all the time with lots of advice and support. I always felt I had somebody on my side. Angie definitely went above and beyond what I had ever expected. I have a lot to be thankful for.

    The first thing I would tell any first-time buyer is this – make sure you have plenty of patience. That’s the key. Eventually you’ll find a good deal. Believe me, they’re out there. Just don’t be in a rush. You’ll get the house you want.

    The other thing that’s really important is to go into the market with an open mind. That’s the best way to figure out exactly what you want. Sure, it’s pretty typical to be unsure when you first enter the marketplace. But once you embark on your house hunt, you’ll gradually become familiar with all the possibilities. Suddenly, things you never thought of prior to the search might become major issues. On the other hand, things you considered a big deal may not seem so important after you’ve looked around a while. It’s all a question of taking the time to figure out what you want.

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    Simplifying the Search for Mission Viejo Homes

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    Mission Viejo Homes Offer Ultimate Appeal

    Great people, great schools, great environment – there’s plenty to luv about the sunny city of Mission Viejo. And if you’re searching for one of the many ideally-located Mission Viejo homes, you now can register with an Orange County Real Estate resource that will make your house hunt a whole lot easier, effective, and enjoyable. We’re talking full coverage that targets exactly the kind of place your heart desires.

    This resource even allows you to extend your search beyond the confines of daytime hours. Don’t worry. You won’t lose any sleep. It’s all done for you online with a Nightly Neighborhood Search. You could literally find the home of your dreams while you dream.

    Of course, needs vary. Fortunately, Mission Viejo offers buyers a diversity of choices. A great example is the La Paz tract. Rating sky high on the desirability scale, La Paz is noted for its generously large lots – sometimes stretching out to acres of upscale family living. For the recreation-minded, nearby Lake Mission Viejo offers plenty to do… or not do when you’re in chill-out mode.

    If you’d like to learn more about the excellent selection of Mission Viejo homes currently available, I’m ready to help. Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    Time is Running Out For First Time Home Buyers

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    Procrastinators Beware: You Could Be Losing Up to $8 Thousand

    April 30 – that’s when it’s all over, people. You’ve gotta be in escrow by that date in order to qualify for the extended first time home buyer’s tax credit. It all boils down to this: get your home purchase contract in the pipeline by the deadline, or forefeit up to $8,000.00 in tax credits. Poof! Gone! Hasta la Vista, baby! And time won’t make an exception for you. It’s slippin’ away. You’ve got about seven weeks to get it in gear. On your mark, get set, go! 

    But if this time crunch isn’t enough to propel you into a mad dash worthy of an Olympian champ, consider this – the deal has to close within two months of the April 30 deadline. In calendar time, the whole thing has to be signed, sealed, and delivered by June 30. If not, say good-bye to your chance to put up to 8k in your pockets.

    True, in a grand show of governmental largesse, Uncle Sam already has extended the tax credit one glorious time. But if you’re sitting on your big sofas waiting for this generous act to repeat itself, make sure your crystal ball is in full working order. Because if you don’t have one of these handy devices, there’s no telling what our friends in Washington will do. So unless you’re prepared to risk 8k on a hunch, it’s best to spring into buyer mode now.

    If you’re a first time home buyer, the government is offering you a great way to save up $8 thousand. But the offer won’t be on the table much longer. If you’d like to learn more about benefiting from this generous first time home buyer tax credit before it vanishes, I’m ready to help. Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    More on Mission Viejo Real Estate Foreclosures

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    Get a Leg Up on Mission Viejo Real Estate Foreclosures

    No doubt about it. Real Estate Foreclosures are helping to heat up the marketplace throughout the country. And one of the most popular foreclosure hotspots is Mission Viejo. There are many reason for the undeniable appeal of this fair city. Among them are high quality of life, an acclaimed school system, abundant recreation, safety, stunning architecture, and plenty of good ‘ol sunshine. Now factor in the great price of a foreclosure property, and Mission Viejo becomes downright irresistible.

    Alright, you want to grab one of these amazing Mission Viejo foreclosures. Great. But there are a couple of  things you should know to plunge into the market at full power.

    Move at Lightspeed

    There are plenty of foreclosure properties available. But they go fast, folks. One nanosecond late, and you could miss the deal of a lifetime. On an average, these properties are snapped up within 7 days of being listed. That’s no surprise, since these homes generally on the market at about 10% below market value. So don’t sit around waiting for one to fall into your lap. You’ve gotta get up and get out there if you want to grab those deals. We’re talking lightspeed.

    Be Prepared

    A  lending institution expects all relevant documents to be in order at the time you make your offer, NOT when your meticulously crafted offer is accepted. Your agent will know more about what to have and when to have it. Just make sure you’re ready. Because if you aren’t, the local bank can choose from plenty of other eager buyers who are.

    Grab a Great Deal in a Great City

    No doubt about it. Mission Viejo Real Estate foreclosures offer great deals in a great city. Act fast and go in prepared, and you tremendously improve your chances of snapping one up. If you’d like to learn more about these buying opportunities, I’m ready to help. Just contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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    Southern California Home Buyer’s Fair 2010

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    Everything You Ever Wanted to Know About Buying a Home

    It promises to be the home buying event to end all home buying events. Of course, I’m talking about the Southern California Home Buyer’s Fair, which unfolds on the weekend of March 13-1 at the L.A. Convention Center. Jointly sponsored by C.A.R. and the L.A. Times, this grand event is expected to draw thousands of very motivated potential home buyers.

    Why You Want to Be There

    Because you’ll learn everything you’ve ever wanted to know about buying a home, and then some. Highlighting the event are 50 seminars that will help home buyers cruise through the contemporary marketplace with new confidence. The seminars will be offered in both English and Spanish. Among the timely topics are understanding home prices, monitoring and fixing credit to facilitate mortgage application, and home inspections.

    Don’t worry about admission costs. The event is absolutely free to the public. And if you’re one of the first 200 people to attend, you’ll get a free movie ticket.

    Sounds like a super good deal to me. If you want more information about the Southern California Home Buyer’s Fair, I’m happy to help. Just contact Angie at 877-230-3211 or angie@askangie.com to get any of your questions answered.

  • Are Huntington Beach Condos really this affordable???

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    YES!!!  Our Huntington Beach Studio just a couple miles from the beach could be less than $1000/mo!

    SURF’s UP!!!!!

    Payment scenairos from a Certified Mortgage Planner!

    Click here for a printable version of the flyer!

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    Huntington Beach Condo is Beachfront Bargain

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    Huntington Beach Condo Puts the Beach Within Your Reach

    Looking for a beautiful residence so close to the beach you could hop on your bicycle and reach sandy shores in minutes? Then you’re gonna love this Huntington Beach Condo. It’s a one level charmer with one bath, stunning hardwood floors, a cozy fireplace, and a balcony offering dazzling, beach breezes from Huntington Beach. Located in highly desirable West Huntington Beach, this property is pleasantly close to Bolsa Chica Beach, Huntington Harbor, and the Bella Terra shopping center. To complement the relaxed beachy environment, the complex enhances your living experience with amenities such as an open-air, lighted tennis court, racquetball, sauna, pool, and spa, all set against the soothingly scenic wetland preserves. Since this condo is being offered as a short sale, the asking price as an irresistibly-low $175, 000.

    Such a fantastic deal is bound to get snapped up in the blink of an eye, so the best advice I can give you is get an early start.

    5096 TORTUGA Dr #104 Huntington Beach, CA 92649

    Property Details

    • # Carport  1
    • Studio
    • AP #  939-54-375
    • Assoc Dues # 1   267
    • 1 full bath
    • Cross Streets  S/WARNER AVE, E/BOLSA CHICA RD.
    • Gated community
    • Lot #  7
    • Stainless steel appliances in kitchen
    • Stories  One Level
    • TGNO   857D1
    • Total Floors 3
    • Tract # 10853

    How much is the mortgage?

    Glad you asked!  One of our Certified Mortgage Planner friends Derek Beisner has created this Financing-Flyer for you with a few different options – payment could be UNDER $1000/mo….OMG!

    If you’re interested in snapping up a great beachfront deal with this amazing Huntington Beach Condo, you may contact Angie at 877-230-3211 or angie@askangie.com to schedule a showing or get any of your questions answered.

  • Good advice on buying an Orange County home…from a recent buyer

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    Hi all,

    I got a forward from one of our recent buyers – she referred a friend who is ready to buy her first home.  With her permission, I am sharing her advice to another buyer with you!

    Hi,

    It was great running into you at John & Jane’s housewarming — I wanted to share my experience with you as far as getting the place of my dreams!  It has to do with 3 things: the right Realtor, the right Broker, and total commitment within yourself to constantly be looking & educating yourself.  By pure luck, I found my realtor, Angie Weeks through the internet as I had already been looking online for a place and googled condos in south county and her website came up….we met for coffee and just clicked.  She’s really eager, she’s completely available, knowlegeable and doesn’t take no for an answer when needed (toward the Listing Agents etc.).  So if you haven’t settled in on a realtor yet, please give her a try — a quick meeting or email or whatever.  She lives in MV and specializes in South County can tell you HOA costs for several communities and the kind of neighborhoods they are (everywhere has a crappy area or 2).  I just took her lead when it came down to which broker or Banking person to use because its important she have a good relationship with them as well cuz when you are in a 30 day close, everything is hyped up and needs to get done on time or you loose escrow and your down payment.  Ok, Ok, I so totally may be telling you so much you already know but it was important to me that I pick what was right for me and I didn’t want some hoity-toity agent to be all arogant or worse, unresponsive….Okie dokie so after looking at TONS of places I put in offers to at least 15 I can recall due to the short sale aspect (its a dime toss and also pure timing to end up being accepted).  I ended up with the 2nd place I put an offer in and it went perfectly…started looking at the end of July, Put offer (unseen!-only photos on website) end of Aug, offer accepted end of Sept and I closed end of OCtober….So many hands are at play to make all this work!  For me, I wanted a condo with large outdoor space either patio or back yard area, one level and not a huge community…for you it can be very different but if you are interested in lookin at my place you can look it up.  I know for a fact there are at least 3-5 properties either in foreclosure or short selling currently.

    The Best websites I found the most information on were Redfin.com & ziprealty.com.  If you go to redfin you can put in any address and it will show up – you click on details you can see the pics that the seller had up at the time as well as scrolling down to see ‘other nearby properties for sale’ and next to that ‘recent nearby properties that sold’….gives you perspective on where the market is etc.

    My friend Caren just bought a place and now is in escrow in Mission Viejo Ashton community which is also really nice!  She only needed to put 3.5% down!!

    Sorry for the book here —- I just had such a great experience that I want to share it!!  I love my place, love the neighbors even!!

    Ok, well if you want to chat more wb and we can switch numbers — but please take a look at Angie’s website www.askangie.com.  

    Take care!

    I think its so fun to let you guys help eachother and just be the guide.  Feel free to comment with your own first time buyer experiences and searching suggestions.  It does take hard work and dedication from all parties involved!!!

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    Two More Reasons to Buy a Fannie Mae-Owned Home

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    Buyers Get New Closing Cost Assistance and Appliance Incentives From Fannie Mae

    Good news for home buyers. Fannie Mae is giving you a 3.5% incentive if you buy and close on a Fannie Mae-owned home. This amazing offer will be on the table between January 28 and April 30, 2010. If you purchase a property listed on HomePath.com and the deal closes within this time frame, you may get up to 3.5% of the final sales price for: 

    • Closing costs

    • The purchase of a new Whirlpool® appliances by Fannie Mae

    • Or if buyer prefers, a combination of closing cost and appliance discounts up to the maximum 3.5%.

    Eligibility Requirements:

    • Offers must be accepted on or following January 28, 2010;

    • Property sales must close prior to May 1, 2010, and;

    • Buyers are required to be owner-occupants. Investors can’t get in on this. 
    Sounds like a good deal to me. If you're interested in taking advantage of these amazing incentives, I'd leap right into action and talk to a 
qualified lender today. And if you'd like help finding the home of your dreams, I'm here to help. Contact me at 949.338.7408 or angie@askangie.com. 
Or follow me @AngieWeeks or @WeeksTeam.

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    Make the Most of Your Money – DIVERSIFY!

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    Mission Viejo Book Signing – ‘Making the Most of Your Money’

    Last week I visited the Mission Viejo Library to get a copy of what is supposed to be the best personal financial planning book on the market right now. Entitled ‘Making the Most of Your Money’, it was written by Jane Bryant Quinn.  Honestly, I had never heard of Jane Bryant Quinn until recently, but she definitely is a highly respected voice in the money management community.

    Jane got off to a light start, joking that she almost named her book ‘Making the Most Out of What’s Left of Your Money’. She agrees that the economy is in a bad place, adding that the government needed to step in in order to prevent a full-on depression. But this cloud has a silver lining – the economy is recovering. Nevertheless, we’re still feeling some economic aches and pains, which is why keeping our finances in mind and tightening up our ship is such a good idea.

    Jane covered quite a bit of financial planning territory. Regarding our current bull market, she recommended diversifying accordingly. She also touched on inflation, predicting that fortunately this monster won’t go very high.

    For the U.S. government’s role, Jane pointed out that Congress may soon be restoring the Paygo law, which is intended to control government spending. This, along with a tax increase, could significantly help our budget.

    So how do savers and investors pick their way through the current financial wilderness?

    First and foremost, according to Jane, get OUT of consumer debt. “Debt is like feeding your dollars to squirrels.” Do NOT make it normal. Debt and credit are not glamorous. Sure, they seem fun at first, but when it’s time to retire and your mortgage is soaring, the debt beast will likely bring you to ruin.

    In the Real Estate arena, Jane cautioned that we shouldn’t expect the height of where we were in 2007 for many, many years. OK fine. Thanks for that. In general, home prices follow the inflation rate. Currently, consumers aren’t thinking of their homes as investments. But that’s OK. Because when all is said and done, according to Jane, it STILL PAYS to OWN a HOME!!!!!! But watch those HELOCs. Let’s get back to that concept of paying down our mortgage, people. Jane also advised don’t take a reverse mortgage until you’re in your 80’s, even though you are allowed to in your 60’s.

    If you’re underwater on your rental investment, it’s probably a good idea to lower your rent to keep your tenants. You must be prepared for losses for years and years if you are a serious real estate investor.  Make sure you have liquid cash flow.  You can also consider short sale or foreclosure if the property is a huge drain. Talk to a professional Orange County financial planner and / or consider some by the book investment education.

    As for stocks, Jane mentioned that she talked with many of the top financial masterminds all over the nation. Apparently, the majority of them have the bulk of their own funds in a broad market index, something like S&P…

    She added that for young people, lifestyle funds are a good idea, even though they’ve received a bit of a bad rap.

    Jane also stated a good formula for your retirement fund risk is this: subtract your age from 110. Whatever that number is, that’s the percent you should be investing in stocks. As you get older, this formula helps you safely transition into a majority of bonds and a lower risk portfolio.

    There are so many valuable insights in this book, it was THICK!  I’m sure  ‘Making the Most of Your Money’ is truly a valuable guide to sound financial planning.  But seriously, no matter how many books we read someone, who does financial planning for a living will always be better than we are, IMO.  You should have a professional on your side.  Just like you should in real estate!!

    Speaking of property, if you would like your diversification strategy to include owning some Orange County Real Estate, I’m happy to help.  Contact me at 949.338.7408 or angie@askangie.com.  Or follow me @AngieWeeks or @WeeksTeam.  Happy investing – feel free to post what has and has not worked for you here!

  • First time buyers blog it best!

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    Hi everyone!

    We’re starting a new series  to open up the first time home buying experience – blogs from our buyers!!!  We figured you would want to hear details from people who just went through the process.  WARNING:  we are NOT editing or sugar coating any of the down and dirty, read at your own risk 🙂

    One of our favorite buyers last year, Kimberly, had good news to share a about her experience and the first time buyer credit.  She writes:

    Deciding to buy my first home after steadfastly saving for nearly 2 years was the best decision I have ever made and wanted to share that thanks to Obama Bucks I am getting over $7,000 back from my taxes this year!!  I only owned my condo for 2 months in 2009 and had started claiming 4 once I was in escrow however my tax guy told me I could still stay at 4 and next year get nearly $2000 back!  I wake up every day so excited to own these walls and not have a landlord anymore!  I hope this feeling of pride and achievement never leaves, I’m on cloud 9!  I’ll add some tips for new comers very soon!

    Thanks, Kimberly!  We agree the tax benefits to owning a home are very nice indeed 🙂

  • Mission Viejo Real Estate Foreclosures

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    In today’s real estate market foreclosures are a big deal. They’re also big business for any real estate agents who are lucky enough to have such listings. The popularity of foreclosures has soared in recent years due to the unique opportunities that they present would-be homeowners with. In many areas especially those of an upscale and luxurious nature, prospective home buyers are able to purchase a home far below its true market value in a neighborhood that, in a normal market, might just be out of reach budget wise.

    There are numerous areas throughout the country that are considered foreclosure hotspots by home buyers but perhaps none are more popular than Mission Viejo real estate. The homes in Mission Viejo are all of an upscale nature and are located in one of the safest neighborhoods in all of the United States. Furthermore Mission Viejo real estate, especially homes and for closure there, are not only being offered at a price far below their true market value but are priced even lower than non-foreclosures as banks are looking to sell these homes as quickly as possible. Is for this reason above all others that Mission Viejo real estate attracts more people than perhaps any other area within the country.

    Mission Viejo real estate also boasts homes that are unique in architecture as well as floor plans and there are plenty of both for home buyers to consider. People flock to Mission Viejo not only for the communities lavish homes but because the city itself is one of the most popular in all of Orange County and is surrounded by a large number of other prominent cities as well. With so many sister communities within close proximity to Mission Viejo a homeowner in that city isn’t far from schools, jobs, and even entertainment.

    Another reason Mission Viejo real estate is so popular regardless of market conditions is because of the coastal community. Coastal communities, generally speaking, both some of the most sought after homes and neighborhoods in all the country. With the beach just mere minutes away from any home within Mission Viejo homeowners there have water and seasonal fun at their virtual back door. As Mission Viejo is a coastal community it’s also attractive to home buyers because of the serene and sometimes surreal atmosphere coastal life creates. Temperate weather is also something many people come to the community for.

    If you ever want to own a home in Orange County and more specifically Mission Viejo now is the time to consider the purchase. Mission Viejo real estate foreclosures have never been more sought nor more affordable and those who wish to own a home there should strike while the iron is hot. While the market remains downtrodden prices on Mission Viejo real estate foreclosures will either remain as they are or will continue to fall in some cases but should the market recover, even in miniscule proportions, prices as well as interest rates on home loans will likely rise very quickly. If you want to own a piece of Mission Viejo real estate the time for action is now.

    Ready to Get Started?? Search For All Mission Viejo Homes For Sale Today!

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    Mission Viejo Real Estate Delivers the Dream

    Published by

    angieweeks

    on

    The Undeniable Allure of Mission Viejo Real Estate

    One look at the Mission Viejo Real Estate market, and you’ll understand why things are hopping and happening in that picturesque locale.  This Orange County city seems to have it all.  Whether you’re an OC newbie, or a seasoned long-timer, Mission Viejo is a dream-come-true.

    First and foremost, Mission Viejo is an absolutely wonderful place to live. Lush green rolling hills, first-rate schools, sprawling lots, approximately two parks per square mile, championship golf courses, and a reputation for being among the safest cities in the U.S. give this prime destination a clear-cut distinction.

    Oh, and the lake — that big, shimmery landmark of recreational bliss. Lake Mission Viejo has something for everybody.  Boating, swimming, fishing, suntanning on a powdery beach, special activities, and much more —  it’s the ultimate way to splash up major fun if you’re a resident. Hey, the rain won’t last forever.

    Plus in Mission Viejo, there’s no such thing as Mello Roos to nibble away at your hard-earned greenbacks. They’re stayin’ in your pocket, folks.

    This is definitely the time to get in on the buying opportunities offered by Mission Viejo Real Estate. And I’d like to help. Contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.  I’ll see you on the lake!

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    FHA Lifts 90-Day Waiting Period

    Published by

    angieweeks

    on

    Great News For Real Estate Investors and New Home Buyers Alike:

    Anti-property-flipping measure waived for one year!

    By Inman News, Monday, January 18, 2010.

    Inman News

    Starting Feb. 1, housing regulators will suspend for one year a 90-day waiting period on property resales that it says has put FHA borrowers at a disadvantage in bidding on foreclosed properties.

    The waiting period on FHA financing of resales was implemented in 2003 to protect the Federal Housing Administration’s mortgage insurance program from the impacts of home flipping.

    The policy did not apply to properties repossessed by Fannie Mae, Freddie Mac, or state- and federally chartered financial institutions. In 2008, FHA lifted the 90-day waiting period on resales of all bank-owned (REO) properties (see story).

    Now, although many other conditions still apply, the waiting period is being lifted on all resales — including properties purchased and rehabbed by private investors.

    Research shows that acquiring, rehabilitating and reselling properties to prospective homeowners often takes less than 90 days, the Department of Housing and Urban Development (HUD) said in announcing the change.

    Some sellers of foreclosed properties have been reluctant to enter into contracts from potential FHA buyers because of the cost of holding a property for 90 days, and the risks that a vacant property would be vandalized, HUD said.

    Lifting the waiting period “will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities,” HUD said.

    Lenders must have supporting documentation or a second appraisal if the sales price of a property increases by more than 20 percent from the seller’s acquisition cost, HUD said in publishing the waiver requirements. The waiver does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

    No doubt about it.  Suspending the 90-day waiting period will be a major stimulus to the Real Estate market.  With quick turnarounds now possible for all properties purchased by FHA borrowers, re-sellers have a strong incentive to put more of their homes on the market. Because of this increase in available choices, FHA borrowers have an equally strong incentive to get in on the buying action.

    If you’re ready to take advantage of the buying or selling opportunities that have emerged thanks to this new measure, I’d like to help. Contact me at 949.338.7408 or angie@askangie.com. Or follow me @AngieWeeks or @WeeksTeam.

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