Thursday, December 28, 2006

New Deduction For Mortgage Insurance

Home owners will benefit from a new tax deduction for private and government mortgage insurance premiums. Mortgage insurance is charged to borrowers with less than a 20 percent down payment on their home mortgage and are typically one-half of 1 percent of the mortgage amount.

Over the past few years, piggyback loans or second mortgages have become popular to avoid paying mortgage insurance. But with the new tax deduction, borrowers may want to crunch some numbers, taking a second look at this option.

Starting in 2007, mortgage insurance premiums will be handled the same as your interest deduction on your mortgage. Full story...

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Friday, December 22, 2006

Orange County Housing Report - December 2006

David Lereah, National Association of Realtors chief economist, said a fairly steady pace of home sales can be expected for the next two months. "It's important to focus on where the housing market is now - it appears to be stabilizing, and comparisons with an unsustainable boom mask the fact that home sales remain historically high - they'll stay that way through 2007." he said. "In addition, a temporary correction in prices distracts from the fact that it is primarily the number of homes sales that affects the economy, and the number for this year will be the third highest on record." How do local home sales stack up to this prediction?

November figures for Dana Point show the number of new listings dropped 22 percent compared to November 2005. Sold listings were down 93 percent during the same time period and market times increased 11 days or 20 percent. The average sales price, also, increased by $138,099 or 14 percent.


New listings in Laguna Beach decreased by 28 percent in November, while the number of homes that sold dropped by 47 percent. Market times increased by 41 days or 79 percent. During this same time frame, the average sales price increased 24 percent.

Laguna Niguel reported 26 less new listings than November 2005, a 15 percent decrease. Market times were up by 47 percent as sales dropped 32 percent. Sales prices in Laguna Niguel showed a strong gain of 10 percent with the average sales price of $801,730.
Mission Viejo continued to appeciate by 5 percent to $761,5127, even though sales decreased by 1 percent and market times increased by 42 percent. The number of new listings decreased by 8 percent.
San Clemente sales prices experienced an increase in November...up $200,978 or 21 percent from a year ago. The number of new listings was down by 7 percent, while sales dropped 25 percent. Meanwhile, the average market time increased 52 days or 116 percent.

San Juan Capistrano's average sales price was 2 percent lower this November compared to November 2005. New listings were also lower by 27 percent. Market times increased 35 days or 70 percent and sales were down 38 percent.

With the market in transition, sellers will want the knowledge and expertise of experienced professionals to assist with the sale of their homes. Professionals who are on top of the market in each community and can give expert advice leading to a successful sale...putting the most money in your pocket.

Wondering what the current value of your home is? Visit EmailHouseValue.info and your home valuation will be emailed to you.

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

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Friday, December 15, 2006

Orange County Ranked 4th Healthiest Place to Live

SELF.com's survey of 100 of the largest U.S. metro areas reveals the fittest, healthiest and happiest places to live for women. Orange County ranked 4 among the 100 metro regions surveyed.

On the plus side: Orange County ranked among the five lowest smoking rates on the list and is in the top 10 for healthy eating habits and exercise rates.

On the negative side: Orange County was among the areas with the highest number of toxic sites and above-average drinking rates, and scored in bottom fifth of list for air quality.

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Friday, December 08, 2006

The San Clemente Real Estate Podcast

The latest edition of the San Clemente Real Estate Podcast looks at the Orange County real estate market activity, along with a discussion about mold inspections and air quality. Our guest speaker is Terri Murphy of US Learning. Enjoy!

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Friday, December 01, 2006

5 Tips For Selling In A Buyer's Market

BankRate.com has an informative article about how to sell a home in a buyer's market. Here in Orange County, the average sales price continues to rise, but homes are staying on the market longer and buyer's have more negotiating power than they have had in the past few years.

BankRate.com's tips include:

1. Prepare yourself mentally for what you're about to go through.
2. Get ready for picky buyers.
3. Educate yourself about your neighborhood's real estate market.
4. Hire an inspector.
5. Consider paying the buyer's discount points.

The article is definitely worth taking the the time to read it in depth. Then visit EmailHouseValue.info for your FREE home valuation.

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