Saturday, January 27, 2007

6% Contributions Allowed

Buyers have gained more buying power with recent changes 100% financing guidelines.

The 80/20 and 75/25 Conforming Fixed-Rate loans now allow interested party contributions up to 6% of the lesser of the sales price or appraised value. Previously, contributions were capped at 3 percent.

Now it’s easier to get into the new home you deserve!

Give us a call or visit our website if you are thinking of buying an Orange County home or would like more information about financing options.

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Friday, January 19, 2007

Orange County Housing Market Expected to Rise in 2007

"After bottoming in the fourth quarter of 2006, existing-home sales are expected to rise through 2007 and into 2008, while new home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors." Orange County real estate markets are falling in line with the latest NAR forecast.

December figures for Dana Point show the number of new listings increased 4 percent compared to December 2005. Sold listings were down 23 percent during the same time period and market times increased 25 days or 60 percent. The average sales price decreased by $32,751 or 21 percent.

New listings in Laguna Beach increased by 7 percent in December, while the number of homes that sold dropped by 8 percent. Market times increased by 5 days or 9 percent. During this same time frame, the average sales price increased 46 percent.

Laguna Niguel reported less new listings in December 2006 compared to December 2005, a 4 percent decrease. Market times were up by 95 percent as sales dropped 18 percent. Sales prices in Laguna Niguel showed a strong gain of 19 percent with the average sales price of $1,804,434.

Mission Viejo continued to appreciate by 3 percent to $733,425, even though sales decreased by 22 percent and market times increased by 58 percent. The number of new listings decreased by 13 percent.

San Clemente sales prices experienced a slight decrease in December...down one percent from a year ago. The number of new listings was up by 11 percent, while sales dropped 42 percent. Meanwhile, the average market time increased 42 days or 93 percent.

San Juan Capistrano's average sales price soared 93 percent this December compared to December 2005. New listings were lower by 20 percent. Market times increased 27 days or 44 percent and sales were down 44 percent.

As you can see, the market is in transition with notable differences among our Orange County communities. Sellers will want the knowledge and expertise of experienced professionals to assist with the sale of their homes. Professionals who are experts in pricing and marketing and can assist you with expert advice leading to a successful sale...putting the most money in your pocket.

Wondering what prices are doing in your neighborhood? Visit EmailHouseValue.info. A market evaluation 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, January 12, 2007

California Protects Your Privacy

Privacy Journal's list of 10 best states ranks California as #1 with the toughest privacy laws in the country. What does California do that other states don't?

1. Federal regulations require an 'opt-out' option giving consumers the ability to 'opt-out' of having companies share or sell their personal information. California puts the burden on the companies, requiring them to get the consumers permission to sell or share information.

2. Identity-theft victims can put a 'fraud alert' notification on their credit report, notifying potential lenders that someone may be illegally applying for credit in their names. California goes a step further and allows residents to “freeze” their credit reports -- essentially preventing lenders from accessing the files and granting credit.

3. Businesses in California are restricted in how they can use social security numbers. Businesses cannot post or display social security numbers, print them on ID cards, print them on materials mailed to customers, require them to be transmitted over the internet, or require them to be used to log into an internet site.

4. Businesses are required to shred all records containing personal information.

5. Businesses are required to alert their California customers if hackers or employees steal information that could be used for identity theft.

6. California has added privacy rights to its state constitution.

California is pro-active in the privacy protection it offer its residents, adding to our quality of life and ultimately helping to maintain our real estate values. Are you thinking of buying a home in Orange County? Real estate prices here have continued to appreciate in 2006 making it a great time to buy or sell. Visit EmailHome.info to receive a daily list of new homes for sale as they hit the market.

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Monday, January 08, 2007

Consumer Confidence Grows

Consumer confidence grew in December according to the Consumer Confidence Index, which increased from 105.3 in November to 109.0 in December. While it is too early to tell, consumer's upbeat attitude and may be a signal that the increase in housing slump across the country is coming to an end.

Orange County prices have continued to rise in 2006, even though the number of sales fell compared to 2005, making this a great time to buy or sell Orange County real estate. Get all the tools you'll need to act effectively within the Orange County real estate market at our newest website, GuideToLocalRealEstate.com.

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