What Is a Good Deal?

The new buyer profile today is understandably looking for a 'good deal'. With the major changes we've seen in Orange County in the last 2 years, the buyers that feel ready to jump into the market are consistently saying, 'If I find a good deal...' So what is a 'good deal'? Let's examine the potential opportunities. There are 3 types of listings that are predominately found in the active market today: Short Sales Bank Owned (or REO's) Traditional Sellers Short Sales: A short…

Trying to Understand the New Capital Gains Laws

Recently I wrote a post discussing the new 'Housing Relief Bill'. While there are many facets of this new bill, one that had me concerned was the changes to the Capital Gains Law. There is some confusion about the interpretation of the law that is being discussed in various blog forums. The bill actually may not have the broad impact originally thought. Keep in mind that the old law allowed for an investor to buy a property and rent it out and as long as they moved into that investment re…

Have We Hit Bottom?

Yesterday, the Orange County Register had an article entitled 'O.C. Homebuying Slump Ends After 33 Months'. I love that title and I hope that it's true. I have some concerns: The coming election will likely slow buying activity. Based on past real estate years it's likely to be a bit slow with buyers taking a 'wait and see' approach. We also are moving into the seasonally slow period of the market. Consumer confidence is still a big issue. With prices having gone down for so many m…

Help Me Pick a New Header?

I'm in the process of selecting a new header for my blog. I would love the feedback of my friends and readers (1) (2) (3) I'd love your preference of the 3 and any feedback! Thanks guys!…

Not Much ‘Relief’ in this Housing Bill

The President signed the Housing Bill last week. I've been reluctant to talk too much about it until I had a chance to understand some of the particulars. I've learned a lot in the last week about it and consumer beware be aware. There is a lot of hype and I'm not sure much help here. The…

Orange County Sales – 1 in 4 Have Been In Foreclosure

'Foreclosure frequency in O.C. looks pretty good vs. the rest of the state, where 40% of second-quarter sales had previously been through a foreclosure (And it was 73.3% in Merced!)', according to Jonathon Lansneron his Orange County Real Estate Blog. He also stated that Orange County didn't look …

The Hits Just Keep on Coming…Another Bank Bites the Dust

Another bank falls apart, 1st Heritage Bank. This is the first local one to fail in Orange County since 1994, according to Jonathon Lansner. Check out Jonathon's article for full details. We're not through this thing yet, not by a long shot. …