Goodbye Formal Living Room, Today’s Orange County New Home
New home construction has begun again in Orange County. But there are some significant differences from the standpoint of the developers, as well as the product that is being offered, and who is actually working with the home buyer. Few things are as they were during the construction boom of the…
Read more...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...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...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 Mission Viejo
Today the microscope is on Mission Viejo. 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. I'm going to spend the next several posts breaking down each of the South Orange County cities to give you an idea of local performance. Whether you are buying, selling, or just keeping an eye on your local market, these numbers tell the story. BTW Dear Friends/…
Read more...It’s a Buyer’s Market – Or Is It?
I did some research for a client tonight and the findings are important to share with readers here. If you are a serious buyer or seller, this information is telling. Please stick with the tedium of the stats because the story it tells is meaningful. This particular buyer is looking in Mission Viejo between $450,000 and $550,000. He wants a single family residence. With that criteria, I hit the MLS looking for a picture of where we really are. As many of you know, I'm the last pe…
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...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…
Read more...Orange County Market Recovery?
One of the biggest speculations today is, 'When is the real estate recovery?' We can't have an economic recovery without it. I got an email from a client and friend this morning. He and I have had some wonderful conversations about the market over the last couple years. As I was putt…
Read more...Why Short Sales are Killing the OC Real Estate Market
A few years ago many of us, including a lot of Realtors, didn't know what a Short Sale was. To be clear, a Short Sale is when the value of the property is lower than the encumberances (loans against the property) and the necessary costs of sale. In short (no pun intended), the loans against the…
Read more...
Linsey Planeta
Recent Comments