Orange County Real Estate Success

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    OMG It’s an economical EARTHQUAKE! What to do from a financial planner’s perspective…

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    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.

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    Interview with a mortgage expert – what the HECK is up with loans???

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    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

  • Take advantage of an FHA LOAN and buy your dream house now!

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    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 best time to buy your home is… NOW!

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    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.

     

  • Exciting news for FIRST TIME HOMEBUYERS!

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    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!

  • Tips for Earthquake Safety

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    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.

  • Mission Viejo High School – New listings in Mission Viejo

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    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!

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    Addicted To HGTV?

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    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.

     

  • Looking for Government Loans? Wachovia has an answer!

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    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

  • Buy Low, Sell High – How to benefit from today’s Orange County real estate market

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    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.

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    Orange County CA Foreclosures Are a Great Investment

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    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.

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    Vow2Save Orange County Home Registry offers Great Gift Alternatives for the New Bride and Groom

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    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.

     

    Vow2Save Orange County Real Estate Registry

     

  • Pricing Your Orange County Home for Sale

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    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.

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    Fantastic Framed Art for Less!!

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    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.

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    FHA Limits Raised for Orange County Real Estate Market

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    As part of the new economic stimulus package that was recently passed, the Orange County real estate market will be seeing far more then rebate checks.  The new package doubles the limits on FHA mortgages and can really be a huge benefit for first-time buyers and low and medium-income buyers.  Here’s how.

     

    Basically, prior to the new stimulus package the max amount an FHA loan could be was just over $360,000.  Well, if you live in the Orange County area, you know how difficult it can be to find a home under that price.  But the new bill has more then doubled the limit for FHA loans and is now capping out at $729,750.  This is an awesome increase that will last throughout 2008 and can really be a huge incentive for people to get out and buy an Orange County home.

     

    Since FHA loans provide lower- to medium-income buyers and first-time buyers with more affordable mortgage options, this new higher limit could really be exactly what spurs people to invest in Orange County real estate.  You will be able to get great FHA loans on a home you really want.  And with interest rates and home values at all time lows, now really is a great time to get in the market.

     

    If you have any questions about the new FHA loan limits, shoot me an email at Angie@AskAngie.com.

     

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    Building Wealth in the Orange County Real Estate Market

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    Buying a home is a huge investment and most people find the process, especially when doing it for the first time, to be stressful.  While it’s true that home ownership is a huge responsibility, the fact of the matter is that owning real estate is one of the best moves you can make in terms of building wealth and security – just ask any financial expert. 

     

    The world’s wealthiest people own real estate – Donald Trump has built an empire from real estate, even after a bankruptcy.  And while not everyone is in the position to be able to buy a home in the Orange County real estate market, most people are and you could be one of them. 

     

    Think about it.  How much are you paying in rent each month?  Wouldn’t it make more sense to spend that money on a home instead of putting it into your landlord’s pocket?  And there has honestly been no better time to buy a home in the Orange County real estate market.  With low interest rates and rock-bottom home prices, now is the best time to buy – especially if your housing budget is tight. 

     

    Check out the New York Times Rent vs. Buy calculator to see if now is a good time for you to invest in an Orange County home.  If you have any questions or need help understanding how much home you can afford, shoot me an email at Angie@AskAngie.com.

  • Orange County REO Homes – Great Deals for Buyers

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    We all know that Orange County real estate isn’t what it was a few years ago.  Not that long ago, sellers that hired a great realtor could ask basically whatever they wanted for their home and could watch it sell with next to no effort in just a matter of days.  That’s just not the case anymore – home values are down and with the slowing economy and credit crunch out there, buyers aren’t nearly as plentiful as they used to be. Of course the bad news isn’t all bad.  I mean, sure if you’re a seller, it’s a tough a market right now, but if you’re a buyer – especially one with great credit – now really is one of the greatest times for you to invest in a new home.

     

    There are also more Orange County REO homes (which are bank-owned homes or foreclosures) available right now then you can imagine.  Lots of people have been unfortunately unable to pay their mortgage, which is leaving the banks with no option but to sell those homes at a heavily reduced rate in order to recoup some of their lost money.  And this, my friends, is really great for buyers!  REO homes are usually priced far below market value and with so many up for sale right now, the banks are taking pretty much any reasonable offer.  Of course there are definitely some things you should be careful of when buying an Orange County REO home, so I advise you to get the help of an Orange County realtor before you start your search.

     

    If you want a list of current REO homes in the Orange County real estate market, shoot me an email at Angie@AskAngie.com or give me a buzz at 877-230-3211.

  • Fighting Foreclosures in the Orange County Real Estate Market

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    We all know that the Orange County real estate market is suffering right now.  Home prices have dropped (which is great news for buyers) and home sales in general are sluggish.  All of this slow activity along with adjustable mortgages that are now renewing are leaving lots of Orange County homeowners facing foreclosure.

     

    If you are one of the thousands of people facing a foreclosure, don’t just give up.  Fight that foreclosure – there are plenty of things you can do right now to avoid losing your home to the bank.  You might be suprised to find out that you can negotiate with your bank.  Most banks will be more then happy to work with you in order to avoid foreclosure.  And if you really just can’t afford the mortgage at all anymore, you can always sell the home and at least recoup some of your investment instead of handing over your property to the bank.

     

    Check out this video of Donald Trump.  He has some great advice on how you can fight to keep your house.  As he points out, the bank really doesn’t want your home – it’s a hassle for them to sell it and recoup their money.  So do yourself a favor, and really try to find some middle ground so that you don’t have to loose the place you call home.

    There were 2400 foreclosures last month in the Orange County real estate market.  None of us want to see this number rise any further.  So if you are facing foreclosure, get help now!  If you’re not sure what to do or where to start, shoot me an email at Angie@askangie.com.

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    Orange County CA Home Sellers, are you overpriced?

    Published by

    angieweeks

    on

    The Orange County Real Estate market is moving.  What direction?  Many.  What are we seeing?  Good deals, strapped homeowners.  What are we hearing?  Happy stories, Sad stories.  There’s a positive and a negative in every environment, and we always encourage you to look at the glass as half full.

     BUT….if your house is on the market right now….are you chasing the market down?  What if your Realtor is doing it for you?  Are you AND your agent strong enough to take the truth?  I read this sad story on a popular Realtors “hub” online, its from a Realtor working out of Florida.   

    OC Sellers and potential sellers, you often choose to work with the agent who says your home is worth the most money.  I want to encourage you to question the pricing method, not just get “sold” on potential dollar signs.  Question the marketing strategies, your agent better have the money to do traditional marketing or they better be able to kick butt online.  ASK how many contacts they have in their database, how many listings they have had expire, how many buyers they have searching on their website.  If the agent at your listing appointment has a dog and pony show, and you buy into that without question, it could be a nightmare for everyone in the end.

    Also, expect to be QUESTIONED yourself.  A good agent is mostly questions, tayloring their strategies to your specific needs and situation.    A good agent will listen to and really hear what you have to say, but they will also be strong and smart enough to TELL you things you may not want to hear. 

  • Gotta love the OC

    Published by

    angieweeks

    on

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