Orange County Real Estate Success

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    A Ferry Ride away from Paradise; Balboa Island

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    Balboa Island
    Balboa Island

    Balboa Island is a quaint and gorgeous place to live or visit and is located in the center of Newport Beach. The excitement begins with the five minute ferry ride to the Island. Along the way, you will get a sneak peak of some of the beautiful homes that line shore of Balboa Island.

    Entertainment awaits you on Balboa where you can choose to relax while laying on the beach, go fishing off of the pier, rent a motor boat and enjoy a ride around the island, go on a whale watching adventure tour or take pleasure in tasting some of the amazing dining selections offered throughout Balboa. A favorite hot spot among the locals is the Balboa Candy Store where everyone can enjoy a sweet treat! Throughout the year, many events are held on or around the island. Every Sunday morning, Balboa holds its Classic Car Show which is held during March-December. Come check out some  old beauties!  For anyone who enjoys the arts, The Debra Huse Gallery offers guests to view and buy exquisite paintings. The gallery will be holding its seventh annual Just Plein Fun event where thirteen award winning artists will paint from sunrise to sunset throughout the week of July 28-August 2.This is a free event for people of all ages to enjoy! On August 1st the Brush Off is being held from 4-6 where artists compete to capture Balboa Island’s beauty on canvas. Come join the festivities with the 21st Annual Celebrate Balboa Island Day! On Sunday, June 1st starting at 11am the festivities will begin with the island parade followed by music, activities and much more! Balboa Island is the place to be on the 4th of July! From 1pm-5pm you watch the Old Glory Boat Parade which is one of California’s largest and well-established boat parade. You will see over 100 boats cruise through the Newport Beach harbor. Balboa Island offers an amazing view for the fireworks which take place at 9pm.  Balboa Island is infamous for the annual Holiday Boat Parade. During the month of December, residents from the surrounding beach areas deck out their boats with lights, inflatable characters, banners and much more! People gather to watch as the spectacular boats ride around Balboa Island.

    Balboa Island Real Estate

    It is no wonder why people decide to live on Balboa Island with all of the exciting events that take place year round. If you are interested in the real estate offered on Balboa Island, Angie Weeks has the experience and knowledge to help you find what you are looking for. Angie is one of Orange County’s top real estate agents and is guaranteed to make your search for a new home simple and enjoyable. Check out the available Balboa Island properties!

    To learn more about the Balboa Island properties for sale, please call 877-230-3211 or you can tweet @AskAngieTeam and mention which address you are interested in.

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    Newport Beach real estate – Balboa Peninsula homes for sale

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    Newport Beach real estate
    Newport Beach real estate

    Newport Beach real estate is booming with summer on the horizon.  Newport offers many interesting and unique homes – no cookie cutter here!  If you’re considering moving to the beach, Newport Peninsula offers excellent cuisine, watersports, beaches, piers, and people. The Balboa Fun Zone is located within the heart Newport Beach and offers fun activities for people of all ages to enjoy!  The activities in Newport Beach are endless and include: paddleboarding, fishing on the pier, bicycle riding on the boardwalk, boat rentals, bon fires or taking the ferry to enjoy a day on Balboa Island. Shops and fine dining are conveniently located throughout Newport Beach. Enjoy taking a stroll through the shops along the boardwalk, walking around Fashion Island exploring surrounding cities such as Corona del Mar and Crystal Cove. Indulge in an array of cuisine options, whether you like Sushi or Pizza, it is all available in Newport Beach. Imagine all of the wonderful amenities that come with living in Newport Beach. Newport is the place to be!

    Balboa Peninsula homes for sale

    Find Balboa Peninsula homes for sale on our website at http://properties.askangie.com.  You can schedule a search here and new properties that hit the market will be emailed to you the day they become available.  Newport peninsula properties usually start just under 1M, and they go over and above 5M. Whether you are looking for a one bedroom or a place for the whole family, Newport Beach offers homes to accommodate any lifestyle. You are sure the find a home on the Balboa Peninsula that will catch your eye and is within your budget. We strive to find nothing but the best for our clients, which is why we pride ourselves in our ability to ensure that your wants and needs are met with professionalism and enthusiasm. Let us help you find that house that you have always wanted to call a home. Now is the time to take your dream of luxury living and make it a reality!

    If you’d like to learn more about Balboa Peninsula properties for sale, simply call us toll free at 877-230-3211 or tweet @AskAngieTeam any address you are interested in.

     

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    Not on the MLS San Clemente

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    Beautiful Homes in San Clemente

    San Clemente, a gorgeous town located in southern Orange County, alIMG_6285ongside the Pacific Coast Highway (PCH). In San Clemente there is plenty to do. The most popular and most known is the fabulous surfing spot San Onofre beach. The pier is another hot spot where the locals come to watch dolphins and surfers swimming in the ocean.  In this town there are many  gourmet restaurants, plenty of shopping, movie theaters, walking trails and more. If you want to go for mini vacation just hop on the local train.

    Palm Beach Park

    But maybe if you are looking for an elder (55+) family member to move to somewhere peaceful and quiet to settle, take a look at Palm Beach Park community. This is a senior community filled with spacious mobile homes. For example each one comes with 2 bedrooms, 2 bathrooms and covered attached carport. Plus, there is beach access near by. The community also hosts weekly and monthly  basis through the association off-site and in the clubhouse.  This is the California dream retirement spot. This is by appointment only, so if this sparked your interest, contact me (949-338-7408) or tweet me @AskAngie.

    IMG_5827 (1)

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    Villagio in San Clemente – Homes for sale in San Clemente CA

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    Villagio Homes in San Clemente
    Villagio community homes – condos with backyards!

    Have you been looking for real estate in San Clemente and turning up empty?  Check out the Villagio community!  Villagio is located in  Rancho San Clemente, and although they are technically condos, the entire community is detached!  You’re getting a home for the price of a condo, so that makes Villagio one of the best priced communities in the entire city! Just 3 miles from the beaches of San Clemente, 1 mile from the Talega golf course, and 1 mile from shopping centers and high school, this centrally located community has it all.   Many of the homes have ocean views, plus the community is quiet with very friendly neighbors.

    Want to see a home in Villagio?

    Check out this virtual video tour of our listing at 716 Via Otono:

    Homes For Sale in San Clemente

    As of the date of this post, there are only 7 detached homes in the entire city of San Clemente priced below 600K, and 716 Via Otono is one of them!  Hurry!! This gorgeous 3 bedroom 3 bath house has a spacious backyard with a patio. Also includes 2 master bedrooms, a 4 car driveway. If you’d like to get more options for detached San Clemente homes we have 15 available between 600-700K.   Also Want the list?  Just tweet @WeeksTeam for one or email info@successinweeks.com.  You can also schedule your own San Clemente property search at http://properties.askangie.com

  • Laguna Beach House Sale

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    Luxury Laguna BeachIMG_4135 (2)

    Laguna Beach, located in southern Orange County, is known for many different activities and entertainment.  First, the gorgeous beach, whether you are laying in the sun or drinking a martini at a restaurant you will always have a spectacular view of the ocean.  All of Orange County knows that this is a great place to come relax.  Second, Laguna Beach is known for being very artsy.  In the summer months, the Sawdust Festival comes to town!  This is where many artists come together to sell their beautiful masterpieces, from glass blowing to fabulous photography to jewelry, this is a must see event. Third, the famous Pageant of the Masters which in essence  is “Living Art” – you will see famous masterpieces recreated in a new way.  Lastly, hidden up in the green rolling hills is a little secret spot called “Top of the World”, it is high up, but the view is worth it!  Up there you can also hike or bike through out the trails.

    Dream Come True Home

    Speaking of the green rolling hills, this is where this dream come true house is located. With a breath taking view of the ocean, this house is to die for.  An incredible 5 bed and 5 bath home includes an outstanding kitchen, a private entrance with a gate, a gorgeous entrance hall way, wrap around balcony, a spacious master bedroom and closet, and so much more.  The house has a modern architecture, built for luxury and entertaining. Though the lot is mostly slope, with minimal maintenance , you will never have to worry about a skyscraper ever stealing your view. Through out the house are huge windows that will let the sunlight surround you.  A great entertaining home. Each of the 5 bathrooms, yes I said 5, is decorated for relaxation and primping.  If this House sparks an interest to you, contact me (949) 338-7408 or tweet @AngieWeeks.

  • Home For Sale In Garden Grove

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    Property in Park Berrydale Recreation AssociationHome For Sale In Garden Grove

    Are you considering to relocating to Garden Grove? Well that is a terrific decision! Garden Grove is located on Route 22, also known as the Garden Grove Freeway in California. With the modern architecture, this city is home to many famous landmarks. Such as the Garden Grove Playhouse, the Gem Theater and the Festival Amphitheater. Another famous event held here is the Garden Grove annual Strawberry Festival, held over Memorial Day weekend. the Garden Grove Strawberry Festival is one of the largest community festivals in the western United States.

    13641 Fairview St. #11, Garden Grove

    If Garden Grove is what you are looking for, don’t miss out on this adorable attached single family home listed at a affordable $279,999! Situated in the Park Berry Recreation Association, the best part of this community is that no one is above or below you! With an open living room and fireplace, this 2 bed and 2 bath is perfect for a first time homeowner. It also includes a large green grass in the front yard and a patio in the backyard. New appliances and Corian counter tops. If this home sounds like what you are looking for, come check it out or for questions contact me at (949) 338-7408 or tweet @AngieWeeks.

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    Southern California Home Ownership Day 2014 – OC Home Fair

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    2nd Annual OC Home FairNeed help in Real Estate?

    Want to buy a home, but don’t know where to start? Or are you trying to sell your home, and everything is going wrong? Have an interest in investing? Then you came to the right place. All your questions can be answered On March 29 2014 at the Southern California Home Ownership Day located at University Drive Orange, CA 92866 !! This event is a do not miss opportunity.

    The Southern California Home Ownership Day

    California Home Ownership Day is hosting. Some of the seminars include Buying after a Short Sale Foreclosure, Steps to Buy Your First Home, The Escrow Process, What to Expect With Your Home Inspection, and Ways to Reduce Your Electric Bill. Each class is taught by a well educated instructor.

    Do you want to be an Automatic Millionaire Homeowner?

    The Automatic Millionaire Homeowner seminar is a slow play way to become a millionaire in real estate. I am teaching this class, please click on this link (https://www.surveymonkey.com/s/ochomefairclass01). You can also enter to win a free raffle to win the book The Automatic Millionaire Homeowner by David Bach.

    The best part of this event is that it’s FREE!! But you need to hurry and register a seat for the classes you would like to attend. Don’t know how? To learn more about this event visit http://www.OCHomeFair.com or Contact me at (949) 338-7408 or Tweet me @AngieWeeks

    )

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    What’s in store for Orange County Real Estate in 2014?

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    Orange County 2014 Real Estate Economic Forecast
    What’s in store for 2-0-1-4?

    Today we had the pleasure of attending a lunch & learn by The Real Estate Focus Group and Steven Thomas, one of Orange County’s best real estate forecasters.  Steven’s reports have been published in Forbes, USA today, NY Times, and especially the OC Register because he’s constantly pulling tons of valuable data about what’s going on with the OC housing market.

    2013 Real Estate Review

    In 2013, short sale volume dropped by 61%, (holla:) we experienced a hot hot hot market with 18% appreciation and then the unrealistic sellers entered the market after June.  We saw many more move up sellers, which is a great sign.  There was a significant lack of inventory at the beginning of the year, followed by a spike and overpriced inventory in the fall.  We also had a refinance bonanza, so hopefully you took advantage of that!  Interest rates are still historically low, but tapering is looming, so 2014 is a year to get your financing while financing is still good.

    2014 Real Estate Ramp Up

    We currently have 5000 homes on the Orange County market, and we have a 49% increase in inventory since this time last year.  Our market is healthy because interest rates are still low (but expected to go up), and we are currently at 90% equity (standard) sales.

    Only 5% of the mortgaged homes in Orange County are currently underwater.  That means 95% of you are back to even or have (gasp!) equity – FABULOUS NEWS – and this makes the perfect formula for a continued move up market.  If you’d like to get the house with the yard or the pool, this year is opportunity time for you.

    First time buyers who have been squeezed out of the market the last 12 months will come back, even though their rates are a little higher and FHA guidelines have changed.  In addition, more luxury buyers are expected to enter the market this year.

    Sellers, our expected time for a properly priced home on the market in Orange County is 93 days.  Our median sales price is 610K, and buyers, your monthly payment for a 4.5% loan at this price is approximately $2500.  Still affordable.  Unless you like paying off your landlord’s mortgage instead.

    New home construction is going up: Rancho Mission Viejo, Great Park Irvine, and Baker’s Ranch in Foothill Ranch are all big developments underway.  Remember it’s still a good idea to have a Realtor represent you even in a new build situation, so be sure to call us if you would like to check out any of the inventory out there.

    Some concerns for 2014….. uncertainty, lack of fair market value homes, interest rates, and the circus in Washington DC.

    Some expectations for 2014…… buyers will insist on fair market value vs. paying over appraisal, active inventory will continue to rise, interest rates will continue to rise, and we should have a mild appreciation of 0-5%.

    If you are interested in MORE geeky data, we have it at our fingertips!  Just email angie@askangie.com, tweet @angieweeks or @weeksteam, or call 877-230-3211 to request a copy of this month’s Orange County housing report.

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    Is it Mortgage D-Day? Qualifying for a Home Loan in CA Gets Harder

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    2014 home loan guidelines
    2014 Loan Guidelines are changing!

    What’s New & Different for 2014 Home Loans in California

    Today’s been coined in the real estate industry as “Mortgage D-day”; new Qualifying Mortgage regulations are rolled out and they are changing the way your mortgage can be structured.  We recently had the pleasure of attending a Lunch & Learn hosted by Brian Kimball, loan officer with Summit Funding.  Brian went over a few of these changes in the lending industry so we figured we would share! A word of warning….lending land is confusing with a ton of acronyms!  If you have questions or clarifications about this information, feel free to reach out to Brian or your preferred lender to help clarify and explain.

    Some improvements and changes for California home loans starting next week:

    – license required for all team members
    – dual compensation is now prohibited (no more point in the front and point in the back)
    – geographical standardization of commission percentage (no more getting different loan origination quotes from different lenders at the same company!)

    Home Owner Equity Protection Act (HOEPA)

    – 1st time buyers are now required pre-loan counseling. This education can be done online. It will hold up your closing if you do not complete this education so if you’re buying your first home or condo be sure to address this with your lender EARLY and get your certificate 🙂  PS. A 1st time buyer is defined as someone who has not owned a home in 3 years.

    Higher Price Mortgage Loan (HPML)

    – Lenders must require 5 yr escrow payments (impound account) REGARDLESS of your loan to value ratio. Borrower must meet residual income requirements, so this means that many lenders are not going to be willing to offer and provide these higher price mortgage loans :/

    General Qualified Mortgage (QM)

    – Points and fees are less than or equal to 3% of the LOAN amount (not purchase price..cool!)
    – No ‘risky’ features. This includes negative-am, interest only, or balloon payments
    – Maximum loan term is 30 years. Darn, the young buyers really liked the 40 year option 😦
    – Maximum total Debt to Income (DTI) ratio is 43%

    Temporary Qualified Mortgage (TQM)

    – Meets product requirements of Qualified mortgage and is available to GSE direct lenders only
    – Available until 2021: This creates some “breathing room” for lenders and buyers to settle into the new QM.

    Ability to Repay (ATR)

    – Lenders currently look at your big deposits, and NOW they are going to be looking into your big withdrawls too.  If you have a personal loan from someone that does not show up on your credit report they will be looking into your regular payments.
    – Lenders can be liable for deficiencies over the lifetime of the loan.
    – Underwriting will now be based on 8 federally mandated criteria.
    – All lenders must standardize underwriting practices. This means there will be less ‘exceptions’ during the underwriting process.
    – Buyers must qualifiy based on fully amortizing payment and maximum payment in the first 5 years. This means buyers cannot use ARMs to qualify for more $$, simply to lower monthly payments.

    Points and Fees Limits

    – 100K or more -> limit is 3% max of the total loan amount
    – 60-99K -> limit is $3000

    What points and fees are always included in the 3% max?

    – loan origination fee, rate lock and discount points
    – prepaid interest
    – application, processing, and underwriting
    – admin fee and commitment fee
    – conventional up front mortgage insurance cost
    – all compensation to mortgage broker
    – ‘junk fees’

    What is never included in the 3% max?

    – FHA MIP and VA funding fee
    – Hazard insurance and property taxes
    – Appraisal fee, credit report, and tax service
    – notary fee and courier fee
    – title insurance, flood cert
    – seller paid fees and points. Sellers, think EARLY about what you are willing to add to the pot to keep a deal together.

    On the 2015 horizon:

    – Loan Estimate may replace the Good Faith Estimate
    – Closing disclosure will replace the HUD1

    Both of these things will standardize the format so buyers can easier compare lender to lender.

    Wow – lots of changes to California Home Loans but many are good ones to protect consumers. Getting a loan is complicated and it’s very important to your financial future.  We always encourage you to talk to a couple lenders so you can find who offers the best programs, payments, and education. If you select the wrong lender, you very well may select the wrong loan, and this could cost you thousands of dollars and big headaches in the future. DO YOUR DUE DILIGENCE and research so you don’t get burned. The Weeks Team is here to help you every step of the way with your Orange County real estate needs – call us at 877-230-3211 or tweet @AngieWeeks or @WeeksTeam with your questions!

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    California Real Estate Market Update from Leslie Appleton Young

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    California Real Estate Market update 2014What’s in store for Orange County Real Estate and the California market in general in 2014? We had The California Association of Realtors Chief Economist Leslie Appleton Young present a ton of great market data and facts today, so we wanted to share with you!

    Here are 8 quick facts about CA Real Estate:

    1. REO level is at 5%. There are only 205 bank owned properties for sale in OC right now.

    2. There are now only 15.4% underwater homeowners in California.

    3. Foreclosure and delinquency rates are now at their historic normal level. (Big WHOOP WHOOP!!)

    4. Sept median price in CA for detached homes: $428,810

    5. 72% of properties from the beginning of this year had multiple offers. (This is why you need a good Realtor!)

    6. 82% of investors bought & HELD. Only 18% flips in 2013.

    7. There are 3.6 months of inventory supply in CA as of Sept.

    8. Only 28% of buyers were first time buyers because they were outbid by all cash investors 😦 The long running average is 38%.

    The big question: Will there be home appreciation or depreciation in 2014????????

    Leslie predicts we will have more inventory, and sales volume will be up 3.2%. She is projecting a 6% appreciation, and mortgage rates will RAISE to 5.3%.

    What does this mean for you? It’s a great time to seize the opportunity of lower prices while rates are still in the 4’s! Call us at 877-230-3211 for help and to maximize your investments!

  • Get $40,000 to Buy Your First Orange County Home

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    OC-hocHey there!

    Most of our ‘wanna be’ home buyers have the same problem – down payment funds 😦  We love helping you find the money!  Here’s an email we received from our friends over at OC HOC – they are a great resource for homeownership education.  If you or anyone you know is struggling to get the down payment on a new Orange County home, check it out!  And don’t forget to post your feedback!!

    Learn How to Get $40,000 in Down Payment Assistance to Buy a Home at OC HOC’s Home Buyer Orientation Workshop!

    Want to become a Homeowner but don’t know where to start? Want to learn how to get free home buyer education, grants and down payment assistance to buy a home? Then this FREE Home Buyer Orientation is just for you! This workshop is geared for consumers who are thinking about purchasing a home, and are interested in learning about the home buying process, and the free nonprofit resources available. OC HOC will provide an overview of the credit and loan requirements are needed to buy a home; benefits of home ownership vs. renting;  an overview of various down-payment assistance programs from nonprofits and city programs; and how to access free funds to help you buy a home. OC HOC will also provide a list of resources and programs and the next steps to prepare you towards home ownership. Representatives from the Affordable Housing Clearinghouse will be present to discuss the M.A.P. (Mortgage Assistance Program) which offers up to $40,000 in down payment assistance to buy a home. This event is generously sponsored by Wells Fargo.

    OC HOC’s Homebuyer Orientation
    5:30-7:00pm on Thursday, October 10
    Delhi Center
    505 E. Central, Santa Ana, CA

    RSVP by email: Conniedt@housingcollaborative.org
    For More Information or to RSVP Email: conniedt@housingcollaborative.org 
    or Visit: www.ochoc.org

  • The Ladera Ranch Real Estate Market is HOT!! Let the Weeks Team help you make the next move!!

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    Live life Ladera style!!!  Luxurious 3 level townhome in prestigious Ladera Ranch. Completely redone open kitchen with stainless appliances.  Open living / dining room with fireplace and custom built ins. Beautiful master bed & bath on level 2, and guest bed or home office is pre-wired and waiting for you on level 3.  Convenient direct access garage and lots of wonderful neighbors!  Enjoy the resort lifestyle Ladera Ranch has to  offer,   including high speed internet access, club houses,  multiple swimming pools, waterpark, climbing wall, skate park, dog park , trails, sports fields and more!! Come home to Ladera Ranch today!

    The Weeks Team wanted you to be the FIRST to know about this great new listing that we haven’t even put on the MLS yet!! If you or your friends and family are looking in the Ladera Ranch Community, please give us a call and we can share more information and answer any questions.

    The California market is really heating up and now is the perfect time to think about selling your home!! The Weeks Team is offering a FREE NO OBLIGATION CMA or your home so you know exactly what your home is worth in this market. We are here anytime to help you, so please either call, email or check out our website to get all of the most up to the date housing market info. We would really appreciate you sharing our information with your friends and family. We would love to earn their business!! We look forward to hearing from you soon!!ImageImage

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

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

    20130211-120503.jpg

    Homeowner Tax Benefits

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

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

    Energy Tax Credits for Homeowners

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

    California Short Sale Tax Benefits

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

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

    Equity Sale Tax Benefits

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

    Capital Gains Taxes

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

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

    First Time Homebuyer Tax Credit

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

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

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

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

  • Do You Qualify as a New Orange County Home Buyer…?

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    Hello Home Buyers and most importantly New Home Buyers, if you have not owned property in the past 3 years you are eligible for this deal in only the County of Orange…

    Orange County wants to offer a MORTGAGE CREDIT CERTIFICATE to all home buyers who have not owned property in the past 3 years. It is allowing everyone the opportunity to restart and get back into that home they were once in or into their very 1st home. The County is offering a tax credit of 15%  for the mortgage interest paid each year. It’s a dollar for dollar reduction against your federal tax liability. Credit is available for the life of the loan and can be re-issued if the loan is refinanced. Income limitation is about $111,600.00 annually for a family of two and purchase price limitation is about $665,000.00. For example if the borrower is paying  $1800.00 mortgage payment per month  and $1,200.00 of the payment is the interest he or she will receive $1,200.00X15%= $180.00 tax credit per month or about $2,160.00 per year. I am waiting to get the most up dated info from MCC for 2013, as soon as I receive the information I will forward it to you.

    Information Provided by Abe Sedaghati. Check out this link for a chart Abe has provided us with similar details Financing Attachment Epreadsheet

    Don’t hesitate to contact The Weeks Team with any other information regarding New Home Purchases.

    The Weeks Team
    1-877-230-3211
    Angie@AskAngie.com

    -BRB

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    Condo in Orange Coming on the Market!!!

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

    Address:
    3340 E Collins Ave.
    Orange, Ca 92867

    The Weeks Team
    angie@askangie.com
    949 388 7408

     

    collins ave_front 3

  • Madrid Mission Viejo – A Great Community to

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    The Community of Madrid in Mission Viejo

    Madrid of Mission Viejo is the perfect place to get that home you have been looking for, for that price you have been wanting. Check out a few of the statistics below…

    Active Listings:  6
    Within the Past Year…
    Closed Listings in past year:  54
    Avg Sale price:  $351,387
    Avg Days on Market:  63

    Madrid has a very diverse range of ages in the community but the chart shows us a little more in detail of the specific ages you may want to live with. Another great reason to make this decision would be because of the very low crime rates for the area and let alone all of Orange County has very little crime.

    Hope all this info gives you enough reasoning to check out Madrid in Mission Viejo. Don’t hesitate to give The Weeks Team a call with any information regarding this community or any real estate information you would like to learn or know about.

    The Weeks Team
    1-877-230-3211
    angie@askangie.com
    Properties.AskAngie.com

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    California Real Estate Forecast 2012 – 2013

    Published by

    angieweeks

    on

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

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

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

    CALIFORNIA REAL ESTATE FORECAST 2013

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

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

  • , , ,

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

    Published by

    angieweeks

    on

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

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

    There are a few other status’ you may see:

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

    Current Mission Viejo Real Estate Statistics

    Active: 108
    Attached: 19
    Detached: 89

    Back Up: 154

    Pending: 107

    Closed (last 30 days): 114

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

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

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

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

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

  • , ,

    Rent verses Buy Orange County Houses

    Published by

    angieweeks

    on

    Orange County houses and kids
    Orange County houses and the effects of homeownership on kids

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

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

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

    Why Bother with an Orange County House?

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

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

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

  • Should I rent my house and buy another? Is now a good time to buy a move up property?

    Published by

    angieweeks

    on

    Rent house buy another
    Thinking about renting your house and buying another? Selling your Orange County home and moving up? Let’s do the math!
    Great question!  We get asked on a daily basis if now is a good time to rent your first house or condo and buy another.  As long as it works for you financially, the answer is probably ‘yes’,  for 3 reasons:

    1. Our interest rates are so good right now that you can probably get MORE house for the same amount of money you are currently paying. 
    2. You’ll be building your investments through your real estate portfolio
    3. Rental properties create residual income

    How do you go about confirming you’re a good candidate to move up or invest?  There’s a few considerations you’ll want to look into before jumping in on a second or third property.  Ask yourself the following questions:

    1. Do I have any equity in my first property?  Most lenders require you to have at least 30% equity.
    2. Do I have at least 3.5% saved for a down payment on the new property?  Remember you can use your IRA or gift money in many cases too. 
    3. Do I have at least 3 months reserve income to make the mortgage on BOTH properties? 

    If the answer is no, then it’s probably best for you to simply sell your existing house or condo and move up to a better property.  Again, you’ll get more house for your money 🙂 But, if you have all of the above, now is a GREAT time to consider investing in real estate.  Orange County real estate is a great investment because Southern California is such a desired area.  Everyone wants to live in the OC!!

    Let’s get into the math.  Scenario 1:  “I’ll wait until the market goes down more”

    Property value:  300K
    Move up range:  400K

    Market adjustment:  -10%

    You lose: 30K
    Move up decreases: 40K

    At first it seems like ‘waiting’ gained you 10K.  But now your existing property doesn’t have enough equity in it to apply your proceeds toward a conventional loan.  You needed that 30K to put down so you didn’t have to do FHA financing, pay mortgage insurance, and deal with a higher interest rate.  If interest rates go up even .5% in this time (which they really have nowhere to go but up) then you REALLY made a mistake waiting 😦

    Scenario 2:  “Let’s DO this!”

    Property value:  300K
    Move up range:  400K

    Market adjustment:  -10%

    Equity decreases: 40K

    At first this math hurts a little.  It looks like you lost 40K.  But did you really?  Only if you choose to cash out after the adjustment.  Property is all about strategically holding.  If you hold, you’ve got a low low interest rate locked in on a better property than your first one.  And your payment is only a little more.  How much is the pool, the walk in closet, the extra bedroom, the lack of paying an HOA worth to you?  Aren’t you more ‘at home’ now that you moved up? 

    Let’s take that homebuying math in the opposite direction…………say prices INCREASE 10%.  If you stayed, you’ve got 30K more, but your move up property is 40K more.  How long does it take for you to save 10K?  Would it have been easier to ‘autosave’ it by buying the bigger property before prices spiked?  And what if interest rates went up?  Can you even afford to buy the bigger property now?  You could be stuck because the payment on a 440K property just isn’t affordable. 

    On the other hand, if you DID decide to buy the bigger property… your loan and payment are locked in low, you have a more comfortable lifestyle, AND a bigger bank account.   

    This is why so many Orange County home owners are moving up in today’s market.  Its all about strategic, calculated risk.  If you’d like to meet with us to crunch numbers we do consultations like this every day.  Sometimes we say to ‘stay put’, sometimes we say to ‘get moving’ 😉  What’s best for your future?!  Call us at 877-230-3211 and let’s create a strategy for your real estate portfolio!

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