Is There Such a Thing as a ‘Short’ Short Sale? Yes…If You Have the Right Lender
One of the great oxymorons of the real estate industry is the Short Sale, which has become famous for being anything but short. I've been promised 60 days only to have it become 5 months. I've had a bank tell me it would likely take 6 months, only to have it take a year. I also am leery of an…
Read more...What’s the Value of a Cash Offer?
The real estate market is a strange world right now. It's plagued by distress sales, foreclosures, a challenging lending environment, and economic uncertainties, and yet there are certain price points where inventory is so low that sellers are receiving multiple offers within days of listing.…
Read more...Microscope on the Market – Wagon Wheel
Wagon Wheel Wagon Wheel is small community in Trabuco Canyon located off Oso Parkway not far from the south gate of Coto de Caza. The homes were built in the mid 90's by Kaufman & Broad who subsidized the original mello roos bonds making it known in part, for it's very reasonable tax rate. H…
Read more...So You Want to Buy a Short Sale? A Word of Caution
This post is LONG, but if you are thinking of buying a short sale (or if you're an agent looking for an outlet for your short sale frustrations), PLEASE read. Understanding this information is a must. I completely understand the allure of the short sales when you are a buyer. The prices…
Read more...Microscope on the Market – Laguna Niguel
So many of the media numbers focus on Orange County performance, but real estate performance can vary dramatically within our large county, and particularly at various price points. Today's Microscope on the Market focuses on the Laguna Niguel real estate market. Homes Under $500,000 # of Sales Short Sales Bank Owned Equity Sellers Active 119 63.9% 5% 31.1% In Escrow 71 53.5% 29.6% 16.9% Closed* 18 27.8% 38.9% 33.3% In the under $500,000 mark…
Read more...Microscope on the Market – Rancho Santa Margarita
When you are looking to buy a home in Orange County, or anywhere else for that matter, it is critical to drill down into the numbers for the sector of the market that you are looking at. Orange County numbers are wonderful benchmarks to know, but our market is made up also of submarkets within…
Read more...2008 Housing Review and 2009 Predictions
Steven Thomas, President of Altera Real Estate recently released his latest Orange County Housing Report and it is definitely worth taking the time to review if you are curious about how the 2008 housing market finished and the possible outlook for 2009. It's a very comprehensive summary. I would encourage you to review the charts for Active Listings and Pending Sales. I love the way that it visually lays out the '05, '06, '07, and '08 numbers for comparison. One thing worth noting is th…
Read more...Loan Modifications May Not Be the Answer
This may not be the most politically correct piece that I'll write but that's never been my goal here on OC Voice. So here goes.... One of my clients sent me a link to an article published online on CNBC about 'Mortgage Re-Defaults Rising with No Sign of Slowing'. The article states that, "..…
Read more...Further Evidence of the Short Sale Debacle
I had this conversation on Twitter today and had to share it as further evidence of the common problems we see in the marketplace when it comes to the handling of Short Sales. In case you are not familiar with Twitter, it's a social media and micro-blogging platform. The banks aren't improving th…
Read more...Maybe the Solution Isn’t a $700 Billion Bailout
There has been much discussion about the big bailout. But in case anyone with any influence is listening - I have an idea that could make a big contribution to our market recovery. Just call anytime and I'll share my insight with you - from the trenches. I'll be waiting for your call. For t…
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Linsey Planeta
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