San Diego & Riverside Counties| Real Estate Blog

California new-home sales rise 25 percent

Sales in new-home communities of 10 units or more in California rose 25 percent in October compared with a year ago, according to the monthly California Building Industry Association (CBIA)/HanleyWood Market Intelligence report.  The increase marked the first year-to-year sales appreciation since December 2006, according to CBIA.  Sales of single-family homes increased 4 percent, while sales of townhomes and multiple-unit homes rose 36 percent.  Condominium sales increased 94 percent compared with a year ago, according to the report.

“While this month’s figures are encouraging, we must keep in mind that we’re comparing the figures to October of 2008, which was the second lowest month of nominal sales we’ve seen during the downturn,” said Jonathan Dienhart, director of published research for HanleyWood Market Intelligence.

 

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

 

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Help & Short Sale Solutions with County Properties

Are any of these making you toss and turn at night, affecting your everyday life? We have a streamline, easy way to help you thru these troubling times.

—Mortgage Payment Adjusting Up

—Income Going Down

—Home is worth less than your current mortgage

—Trouble with Bills / Overwhelming Debt

—Behind on Mortgage Payments

—Concerned About Preserving Credit

County Properties, a full service Real Estate Company, has teamed up with a Real Estate Attorney Group who specializes in negotiating short sales and loan modifications with lenders.

 

HOW THIS BENEFITS YOU

FREE Consultation with an Attorney and one of our Agents, at the end of the consult you will understand the likely hood of being able to do a Loan Modification and what your options are.

Below are a few of the things the attorney can do for you, if you should have to do a short sale.

ü A forensic loan document inspection designed to uncover RESPA, TILA and other violations.

ü Substantially more leverage that comes from the threat or initiation of litigation .

ü A detailed financial cost/benefit analysis that illustrates a short sale is a substantially less expensive alternative to the lender than foreclosure.

ü High likelihood of negotiating reduction or elimination of the deficiency.

ü A much faster response from the lender due to escalation resulting from legal representation.

ü Identification of important or damaging legal issues at the earliest possible opportunity (deficiency judgments, tax implications, fraud, etc.)

ü Minimized damage to credit and the ability to borrow in a fraction of the time vs. foreclosure

ü Routinely close short sales in less than 60 days!

Please give us a call TODAY for a free consultation, so we can begin to help you TOMORROW. Call us at: (619) 301-0200 or Toll free (866) 825-8124 we are easy to talk too. We'll keep the conversation and your situation in our strict confidence. If you prefer, contact us by filling out the form stop foreclosure now.  

California home sales rose 1 percent in Oct.

Home sales increased 1 percent in October in California compared with the same period a year ago, while the median price of an existing home declined 3.2 percent, C.A.R. reported today.

Closed escrow sales of existing, single-family detached homes in California totaled 562,400 in October at a seasonally adjusted annualized rate.  Statewide home resale activity increased 1 percent from the revised 557,050 sales pace recorded in October 2008. Sales in October 2009 increased 5.9 percent compared with the previous month.

The median price of an existing, single-family detached home in California during October 2009 was $297,500, a 3.2 percent decrease from the revised $307,210 median for October 2008, C.A.R. reported. The October 2009 median price rose 0.3 percent compared with September’s $296,610 median price.

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Just Listed in Hemet and Pauma Valley CA

Just Listed $ 150,000
137 Atlante Ct Hemet, CA 92545
3 Bedroom -2 Bath with Den, 1,872 SQFT Wood Lament Flooring, Tile Flooring in Bath stamped concrete patio and fully landscaped and upkeep.

 

 

Just Listed $650,000
15201 Pauma Valley Dr
Pala, CA 92061. in the Pauma Valley Country Club, 3 Bedroom -2 Bath, adobe home, full wall around home, 1.51 acre

 

If you would like to get loan information from recommended banks, or get started and view all homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO's) or thinking of selling your property, Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

 

Getting serious about your house and the market

It often is difficult for homeowners to objectively value their homes, which often reflects their sense of personal style.  However, by consulting with a REALTOR®, using online resources, investigating neighborhood trends, and soliciting the opinion of friends, homeowners can arrive at a reasonably accurate appraisal.
 
•  REALTORS® and real estate appraisers are the best sources of information on current market conditions.  Consumers should begin the home valuation process by consulting with their REALTOR® or a local real estate appraiser.  REALTORS® can provide homeowners with a list of homes that recently have sold in the area, and use that data to help determine the most accurate and competitive price for the home.

nbsp; Homeowners also can contact their local tax assessor’s or county clerk’s office, many of which post real estate transactions on their Web site.  The records will indicate what properties have recently sold in the neighborhood and the respective sales prices.  Consumers should look for homes that have sold within the last six months for a more accurate picture of current market conditions.

nbsp; Online sites such as Zillow.com and trulia.com also provide free online home value estimators.  Consumers should be aware though that these sites derive some of their information from public records, including tax appraisals, and are subject to error.

•  Some real estate experts recommend homeowners attend nearby open houses to see how their homes compare in size and amenities.  Consumers also can consult the Marshall & Swift Residential Cost Handbook, which professional appraisers use to assess the value of features such as fireplaces, three-car garages, and the like.  The handbook costs $300 and is available in some business school libraries.  An online site, swiftestimator.com, enables homeowners to conduct an item-by-item calculation of the value of the home.  Online sites and books only should be used as guidelines though, and homeowners are advised to contact a real estate professional to help determine the current value of their home.

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

 

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

 

4 Calif. ZIP codes with greatest premium above list price

Four California ZIP codes earned places on the third quarter “Hot Market” list .  The list showcases ZIP codes where homes are selling for the greatest premium above list price.  By contrast, California had eight of the top 10 markets in the second-quarter Hot Market list.  Two Arizona markets—Glendale and Phoenix—made the list for the first time.

The 10 ZIP codes with the highest sales-price-to-list-price ratio among the 33 markets were:

 

Rancho Bernardo, Calif., 92127 (124.9 percent sales-to-list ratio);

Davie, Fla., 33328 (123.2 percent);

Grand Prairie, Texas, 75050 (120.1 percent);

Commerce, Calif., 90022 (118.5 percent);

Everett, Wash., 98205 (109.3 percent);

Whitestone, N.Y., 11357 (108.5 percent);

Glendale, Ariz., 85307 (107.6 percent);

Phoenix, Ariz., 85035 (106.3 percent);

Oakland, Calif., 94608 (105.6 percent;

Arleta (Los Angeles), Calif., 91331 (105.3 percent).

If you would like to get loan information from recommended banks, or get started and view all homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO's) or thinking of selling your property, Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Pending home sales rose 6.1 percent in September

NAR’s Pending Home Sales Index rose 6.1 percent to 110.1 in September compared with 103.8 in August.  The index now is 21.2 percent higher than its September 2008 reading of 90.9, the largest annual increase on record, and is at its highest level since December 2006 when it stood at 112.8.  The Pending Home Sales Index in the West increased 10.2 percent to 143.8 in September and is 23.7 percent higher than a year ago.

“What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” said NAR’s Chief Economist Lawrence Yun. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery."

 

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

 

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Thinking of halting payments on house?

Some homeowners underwater on their houses—who owe more on their mortgages than their homes are worth—wonder what would happen if they were to stop paying their mortgages.  

When lenders do not receive payments, the first action taken by the lender is to report the missed payment to the credit bureaus by the first day of the next month.  Sometimes this can happen in as little as two weeks from the due date, depending on when the payment is due.  Generally, this action will leave a negative mark on a credit report and decrease the homeowner’s credit score by as much as 200 points.

Because of the negative mark on the homeowner’s credit report, within the next 30 days, homeowners can expect their other creditors to take note of the late payment and to take action.  Credit card issuers may raise interest rates, lower credit limits, or close credit card accounts.  The borrower’s auto insurance, student loans, and other forms of credit also may change, as these are tied to the borrower’s credit score as well.

If the homeowner does not pay for 90 days, the lender likely will start calling, trying to persuade the homeowner to enter into a loan modification.  If a loan modification cannot be agreed upon between the homeowner and the lender, and the homeowner continue missing payments, the homeowner likely will be served with a foreclosure notice.  After the foreclosure notice is received, the lender asks a court to issue a judgment against the homeowner, and a county sale is arranged.

Homeowners at risk of defaulting on their mortgages, or those who already are behind, should contact their lender immediately to work out a repayment plan and/or loan modification.  

 

At County Properties 23 years of brokerage experience and trust! We offer free counseling in real estate re; home values and information on options of selling vs Foreclosure.  If you have equity in your home, we will sell your home and get top dollar in this challenging market. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also. Please feel free to contact me today for free counseling at (619) 301-0200 or Toll free (866) 825-8124 visit our website, click  CountyProperties.net

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Fewer McMansions on the Horizon

Builders Have Little Incentive to Create More McMansions and Hardly Anyone is Buying. There are Deals Out There, But You Better Act Fast.

• If you're looking to buy a brand-new McMansion in the 'burbs, you'd better act fast. With home prices this low there's not much incentive for builders to start new houses. And inventories are getting razor-thin: Economists and analysts at the National Association of Home Builders fall construction conference in Washington, D.C. on Wednesday pointed out that the current 7.3-month supply of new homes is the lowest it's been since 1992.

Moreover, most of the summer's pickup in home sales and starts, which has since abated, could be attributed to the $8,000 first-time home buyer's tax credit. With that credit slated to end on Nov. 30—and with continuing problems securing money to build—builders have little incentive to ramp up their production of new homes.

Many places will take years to rebound. Rockville, Md. builder Robert Mitchell says these days he'll only build a home when he has contract in hand, because his lenders won't advance money for speculative building. "We sold off our standing inventory," he says.

Before the drought: Construction workers build a new home in August 2006 at a new sub-division in Sugar Grove, Ill., a suburb outside of Chicago.

Normally, short supply means higher prices. But consumers have been so battered by job losses and falling home equity, many are unwilling to commit to buying. Mark Zandi, chief economist of Moody's Economy.com, notes that "homes are as affordable as they've ever been," based on household income. However, he says that continuing layoffs and foreclosures will continue to depress prices, which have fallen 32% since their 2006 peak, according to S&P/Case-Shiller's composite 10-city index. He predicts that prices will fall another 5% to 10% before stabilizing in the middle of next year.

When the market does start to pick up, the NAHB sees that happening two years from now, the landscape will be changed, literally. After a long run-up in median new home size, peaking at 2,309 square feet in 2007,home sizes shrank to 2,091 square feet in 2009. "It's the largest decline ever seen," said NAHB's chief economist David Crowe. Since first-time buyers and their parents, the empty-nesters, will be the dominant demographic groups over the next decade, builders will cater to those groups more modest needs. Already, big builders like Toll Brothers have introduced models that look more like cozy carriage homes and four-squares than their usual English manor-style homes.

 

In the meantime, the next couple of years are going to be strange for those who want to buy new and have the means to do it. Sure, interest rates are likely to remain favorable (in the 5% to 6% range, according to Mortgage Bankers Association chief economist Jay Brinkmann). But you may have to settle for an already-built home in a builder's inventory if you want a bargain. Demand is so weak and prices so low, that for many builders, creating a new home to your specifications just isn't worth the effort. The NAHB's Mr. Crowe noted that 56% of builders the trade group surveyed recently reported that appraisals for their homes fell below the cost of building.

 

If you would like to get loan information from recommended banks, or get started and view all homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO's) or thinking of selling your property, please visit our website at: County Properties San Diego or County Properties Riverside

By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.

Concerned your current home loan payment going up & out of reach

Short Sell your existing home,
and then Buy your next home concurrently!

 To Short Sell, the existing bank or lender agrees to discount the loan balance
because of an economic or financial hardship on the part of the owner.

These extenuating homeowner circumstances are usually related to
the current real estate market and the borrower's financial situation.
A Short Sell is typically negotiated and executed to
 prevent a home foreclosure!

Now we can offer you the ability to Short Sell

& then Buy your next Home!

 THE SHORT SALE:

List your existing home for sale with a Realtor!

Your Realtor or a skilled negotiator works with your existing lender(s)
 (Loss Mitigation or Workout Department) via a Short Sell offer,
once you have located a buyer for your existing home.

 Your lender has pre-determined, yet constantly evolving
 criteria for which Short Sell offers are accepted or rejected.
The negotiations and factors are very personal, detailed, complex
 market-driven, time sensitive and handled case by case.

Certain lenders are more apt to consider short sales,
over other lenders who are more reluctant.
Contact your Realtor, or us for specific information.


THE BUY:

The second step in this program,
 is to get you to pre-qualify with us to BUY your next home,
 after you have begun the Short Sell negotiation process
with your lender(s) through your Realtor or negotiator.

We have access to lenders who believe that
certain qualified "upside-down" homeowners
who Short Sell their home, are still worthy to lend to.


HOME OWNERSHIP CONTINUES:

Retaining the dream of home ownership, avoiding foreclosure,

not having to "rent" a place for a few years;

as well as maintaining the ability to take mortgage tax deductions

are admirable goals, when you are upside down in your mortgage.

Why should I work with County Properties?

 We are glad you are thinking about this question... The Association of Realtors recently conducted a statewide survey which reported that only 10% of all Short Sales actually closed escrow !!! That's terrible.. the Great News is our Short Sale closing Rate is better then 90%. How you may ask ?...

Experience - Education - Tough Bank Negotiations - Dogged Persistence. Our team consists of Bank Negotiators, a Real Estate & Internet Marketing expert, Listing and Sales experts, and Transaction Coordinators. Our team experience goes back to the mid 1990's when southern California experienced it's last major real estate down turn.

Please give is a call TODAY, so we can begin to help you TOMORROW. Call us at: (619) 301-0200 or Toll free (866) 825-8124 we are easy to talk too.

We'll keep the conversation and your situation in our strict confidence. If you prefer, please feel free to contact me by clicking here Short Sale and Buy Program

We'll keep the conversation and you’re pending Foreclosure in strict confidence.