Saturday, September 30, 2006

Orange County Real Estate Market Report

Housing prices are expected to continue to have a limited fall throughout 2006, according to testimony submitted by the National Association of Realtors® at last week's Senate Banking Committee hearing on the economy. The Orange County housing market is experiencing a slow down, but prices are continuing to increase. Most communities are experiencing double digit appreciation. Let's look at the numbers.

August figures for Dana Point show the number of new listings actually decreased by 9 percent compared to August 2005. A decrease in new listings is unusual in a slowing market, but not for the end of summer. Sold listings were, also, down 51 percent during the same time period and market times increased 27 days or 4 percent. The average sales price, on the other hand, increased $446,735...a whopping 48 percent.



New listings in Laguna Beach, also, decreased by 29 percent in August , while the number of homes that sold dropped by 32 percent. Market times increased by 19 days or 35 percent. During this same time frame, the average sales price increased 44 percent or $796,217.



Laguna Niguel reported similar numbers with a 19 percent decrease in new listings compared to last year. Market times were up by 66 percent as sales dropped 49 percent. Sales prices in Laguna Niguel increased, however, by 9 percent or $70,906.



Mission Viejo continued to appeciate by 2 percent even though sales decreased by 40 percent and market times increased by 75 percent. The number of new listings increased by 8 percent.



San Clemente sales prices also saw an increase...up $106,133 or 11 percent from a year ago. New listings decreased 5 percent and sales dropped 29 percent. Meanwhile, the average market time increased 26 days or 51 percent.



San Juan Capistrano's average sales price was 20 percent higher this August compared to August 2005. New listings increased 8 percent. Market times increased 27 days or 59 percent and sales were down 19 percent.



Property values are continuing to appreciate, but the competition for ready, willing and able buyers is fierce. Homes must be well staged and priced right to attract buyers. Contact us if you are thinking of selling your home. We have the experience, market knowledge and marketing expertise needed to sell your home in today's market! Also, visit www.HartanovTeam.com or search by interactive map at www.GuideToLocalRealEstate.com to view all Orange County real estate listings, get the current market value of your home and more!

All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.

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Thursday, September 21, 2006

Home Sales Slowest In Nine Years

DataQuick Information Systems has reported home sales in Southern California are at a nine year low with prices having reached a plateau.

A total of 25,628 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 12.8% from 22,712 in July, and down 25.3 percent from 34,292 for August a year ago, according to DataQuick.

Even though the market has softened, it is good to remember that housing prices have doubled in the past four-and-a-half years, making real estate in Orange County an excellent investment.

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Friday, September 15, 2006

Identity Theft



Identity theft is a serious crime impacting more than 10 million victims each year. Often, consumers first learn they are identity theft victims when they are in the process of buying or renting a home. The National Association of Realtors is working with the Federal Trade Commission to educate comsumers to minimize the risk of identity theft. This new initiative, Deter-Detect-Defend is focused on empowering consumers to protect themselves against identity and to minimize its impact.

‘Deter’ Tips to Share with Consumers
1. Shred financial documents and paperwork with personal information before you discard them.

2. Protect your Social Security number. Your Social Security number is the key to your identity and must be closely protected. Don't carry your Social Security card in your wallet or write your
Social Security number on a check. Give it out only if absolutely necessary or ask to use another identifier.

3. Don't give out personal information on the phone, through the mail, or over the Internet unless you know who you are dealing with.

4. Never click on links sent in unsolicited emails; instead, type in a Web address you know. Use firewalls, anti-spyware, and anti-virus software to protect your home computer; keep them up-to-date. Visit OnGuardOnline.gov for more information.

5. Don't use an obvious password like your birth date, your mother's maiden name, or the last four digits of your Social Security number.

6. Keep your personal information in a secure place at home, especially if you have roommates, employ outside help, or are having work done in your house.

‘Detect’ tips to share with consumers
Be alert to signs that require immediate attention:

1. Mail or bills that do not arrive as expected

2. Unexpected credit cards or account statements

3. Denials of credit for no apparent reason

4. Calls or letters about purchases that were not made

Inspect:
1. Your credit report. This contains information about you, including what accounts you have and your bill paying history.

** The law requires the major nationwide consumer reporting companies—Equifax, Experian, and TransUnion—to give you a free copy of your credit report each year if you ask for it.

** Visit http://www.annualcreditreport.com/ or call 1-877-322-8228, a service created by these three companies, to order your free credit reports each year. You also can write: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.2. Your financial statements. Review financial accounts and billing statements regularly, looking for charges you did not make.

‘Defend’ tips to share with consumers
1. Place a "Fraud Alert" on your credit reports. A fraud alert on your credit report tells creditors to follow certain procedures before they open any new accounts in your name or make changes to your existing accounts. Each of the three nationwide consumer reporting companies has a toll‑free number you can use to place an initial fraud alert. Only one call is necessary; the company you call will notify the other two. An initial fraud alert is active for 90 days. If you want to place an extended (seven-year) fraud alert, you must follow additional procedures.

** Equifax: 1-800-525-6285
** Experian: 1-888-EXPERIAN (397-3742)
** TransUnion: 1-800-680-7289

Placing a fraud alert entitles you to free copies of your credit reports. Look for inquiries from companies you haven’t contacted, accounts you didn’t open, and debts on your accounts that you can’t explain.

2. Close accounts. Close any accounts that have been tampered with or established fraudulently.

* Start by calling the security or fraud departments of each company where an account was opened or changed without your authorization. Follow up in writing and include copies of supporting documents.

* Use the "ID Theft Affidavit," available at ftc.gov/idtheft, to support your written statement.Get written verification that the disputed account has been closed and the fraudulent debts have been discharged.

* Keep copies of documents and records of your conversations about the theft.

3. File a police report. File a report with law enforcement officials – for example, state or local police. It will help you work with creditors who may request documentation that a crime has occurred.

4. Report the theft to the Federal Trade Commission. Your information helps law enforcement officials across the country with their investigations.

**Online: ftc.gov/idtheft
** By phone: 1-877-ID-THEFT (438-4338), or TTY,1-866-653-4261
** By mail: Identity Theft Clearinghouse Federal Trade Commission 600 Pennsylvania Ave, NW Washington, DC 20580

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Friday, September 08, 2006

Project Playhouse Raises Money For HomeAid

Miniature Mansions auctioned for HomeAid

The 16th annual Project Playhouse opens this weekend, raising money for HomeAid a non-profit organization that builds and renovates shelters for homeless men, women and children.

These children's playhouses aren't your everyday playhouses. They feature only the best...granite counters, recessed lighting, and mahagony decking. They are also expected to raise tens of thousands of dollars each for HomeAid.

The auction is held October 14, but this weekend kicks off the event with open houses. You can find detailed information at www.HomeAidoc.org.

Have fun and remember Christmas is just around the corner!

If you are interested in buying a little bit larger house, visit our website. Here you can view all Orange county real estate listings, get the current market value of your home, free reports and more.

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Friday, September 01, 2006

July Home Sales Down, But Prices Are Up

Existing-home sales were down in July, while home prices in many areas are slightly below year-ago levels, according to the National Association of Realtors®. This is true for some of our Orange County communities, but not for others.

July figures for Dana Point shows the number of new listings decreased by 18 or 17 percent compared to July 2005. Sold listings were, also, down 63% during the same time period and market times increased 35 days or 78 percent. The average sales price increased $2,481.



New listings in Laguna Beach increased by 10 percent in July , while the number of homes that sold dropped by 22 percent. Market times increased by 39 days or 61 percent. During this same time frame, the average sales price increased 57% or $1,152,637. Time will tell if this is an anomaly or a trend.



Laguna Niguel reported similar numbers with a 9 percent increase in new listings compared to last year. Market times were up by 43 percent as sales dropped 49 percent. Sales prices in Laguna Niguel also increased by 13% or $99,711.



Mission Viejo continued to appeciate by 8 percent even though sales decreased by 46 percent and market times increased by 42 percent%. Ithe number of new listings increased by 9 percent.



San Clemente sales prices increased slightly...up $3,795 from a year ago. New listings increased 26 percent and sales dropped 47 percent. Meanwhile, the average market time increased 38 days or 83 percent.



San Juan Capistrano's average sales price was 5 percent higher this July compared to July 2005. New listings decreased 5 percent. Market times increased 36 days or 84 percent and sales were down 84 percent.



Even though Orange County sales are following the national
trend with fewer sales and longer market trends. Prices are holding steady or increasing compared to a year ago..

All stats are compiled from the Southern California Multiple Listing Service. Information is deemed reliable but not guaranteed.

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