Archives for September 2011

Orange County’s real estate market saw…

For the 22 business days ending Sept. 8 – the latest numbers — Orange County’s real estate market saw…

  • Median selling price for all residences of $417,500 – that is off 6.2% vs. a year ago. Last full month that was lower was February 2011 at $410,000.
  • Total Orange County sales of 2,683 residences closed in the latest period — that is up 6.8% vs. a year ago.
  • Note: 16 of 83 Orange County ZIPs had both rising sales and prices in the period.
Slice Price Price vs. year ago Sales Sales vs. year ago Sales vs. ’88-’10 avg.
Houses $470,000 -11.3% 1,784 +8.6% -21.0%
Condos $269,500 -10.2% 749 +4.5% -13.0%
New $583,000 +12.2% 150 -2.0% -71.5%
All O.C. $417,500 -6.2% 2,683 +6.8% -26.4%

And more analysis ….

  • $417,500 median selling price is 35% below June 2007′s peak of $645,000.
  • Single-family homes were 74% more expensive than condos in this period vs. 77% a year ago. From 1988-2010, the average house/condo gap was 57%.
  • Builder’s new homes sales were 6% of all residences sold in the period vs. 6% a year ago. From 1988-2010, builders did 14% of the Orange County home-selling.
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Selling in Today’s Market

For Home Sellers

  Selling your home shouldn’t be a stressful ordeal. Making the smart move of choosing a REALTOR® is your first step to ensuring that your investment in your home pays off. Our services and experience allow you to focus on your move while We manage your home sale from our initial consultation to the closing deal, and beyond. We pride ourselves on repeat business and hope you’ll come to understand why.What We will do for you
Recent Home Sales
Getting the highest price
Closing Costs

As Your Agent, We Will:

  • Complete a comparative market analysis that will compare your home’s value to that of your neighbors.
  • Compile a comprehensive plan detailing all the efforts we will employ to sell your home, including Internet and local media.
  • Present your home to as many qualified buyers as possible getting your home maximum exposure.
  • Help you stage your home and generate curb appeal to ensure you get the highest price.
  • Assist with obtaining offers and help you in negotiating the best deal as smoothly as possible.
  • Help you find your next home and answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

  Recent Home Sales

What are homes selling for on your street? Use Contact us to find out what neighborhood homes are selling for, free of charge, or choose a more detailed analysis of the value of your home.

  Getting the Highest Price for Your Home

Curb appeal is key and could make a difference whether people stop and take a flyer, or drive right by. Here are a few tips to increase the curb appeal of your home. Staging your home is important. Many buyers will stay in your home longer if it’s staged appropriately. We have compiled some ideas to present your home in the most effective manner.

  Closing Costs to Expect:

  • Title insurance fees depend on the sales price of the home.
  • Broker’s commission is a full-service fee and will cost anywhere between 5% to 7%.
  • Local property transfer tax, county transfer tax, state transfer tax, and state capital gains tax are the charges that you’ll pay for the privilege of selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on when you close and when your taxes are due.
  • FHA fees and costs are all fees are now negotiable between an FHA buyer and seller.
  • Home inspections fees are in some circumstances paid for by the seller and include pest, radon and other inspections.
  • Miscellaneous fees can accrue from correcting problems noticed during the home inspection.

Find out how much your closing costs could be.

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Orange County Home Sales By Zip Code

31 of O.C.’s 83 ZIP codes with gains in their respective median selling price. Overall, buyers’ prices were -3.4% vs. a year ago.

·         Taking sales volume in consideration, home-sale pricing is up in ZIPs representing 45% of the Orange County market.

·         6 of 83 O.C. ZIPs with median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007. Since that pricing pinnacle, there’s been a 34% drop in the countywide median price!

·         Priciest ZIP? Newport Beach 92662 with a $3,665,000 median selling price.

·         Current million-dollar ZIPs were 5% of all sales in the most recent period tracked.

·         Cheapest ZIP? Laguna Woods 92637 with a $192,500 median selling price.

·         There were 3 ZIPs with medians under $250,000 vs. 3 a year ago. ZIPs with medians under a quarter million had 4% of all sales in the most recent period.

·         44 of 83 O.C. ZIPs had year-over-year sales declines in the period or 53% of the market.

·         Overall, countywide sales were down 3.3% vs. a year ago.

·         2 of 83 O.C. ZIPs has sales gains of 100% or more in the period at the same time as 5 had sales drops greater than 50%!

Town ZIP Price Yr. chg. Sales Yr. chg.
Newport Beach 92662 $3,665,000 +109.4% 3 +0.0%
Newport Coast 92657 $1,700,000 +5.4% 20 -20.0%
Newport Beach 92661 $1,500,000 -22.5% 4 -20.0%
Corona del Mar 92625 $1,218,750 -25.0% 14 -22.2%
Laguna Beach 92651 $1,200,000 -8.0% 22 -26.7%
Newport Beach 92660 $1,170,500 -6.4% 51 +50.0%
Villa Park 92861 $890,000 -0.3% 4 -55.6%
Newport Beach 92663 $840,000 -11.6% 23 +0.0%
Irvine 92603 $742,500 -21.0% 28 -9.7%
Seal Beach 90740 $728,500 +13.3% 10 -23.1%
Yorba Linda 92886 $705,000 +20.5% 52 -14.8%
San Clemente 92673 $665,000 +12.7% 37 -27.5%
Santa Ana 92705 $660,500 +2.0% 37 -2.6%
Huntington Beach 92648 $650,000 -9.4% 40 +0.0%
Trabuco/Coto 92679 $630,000 -1.6% 43 +4.9%
Huntington Beach 92649 $627,500 -10.4% 23 -11.5%
Los Alamitos 90720 $612,500 -16.9% 8 -52.9%
Yorba Linda 92887 $594,500 +33.7% 28 +55.6%
Dana Point 92629 $594,000 +14.0% 35 -7.9%
Irvine 92618 $588,250 +6.0% 27 -25.0%
Ladera Ranch 92694 $587,500 +9.8% 52 +18.2%
Dana Point 92624 $562,500 +4.7% 11 +37.5%
Irvine 92620 $561,250 -18.7% 48 +4.3%
Irvine 92602 $550,000 -15.4% 17 -32.0%
Tustin 92782 $534,000 -12.9% 40 +37.9%
San Clemente 92672 $509,000 +6.5% 31 +29.2%
Irvine 92604 $500,000 +5.3% 29 +38.1%
Foothill Ranch 92610 $492,500 +77.2% 24 +71.4%
Fountain Valley 92708 $490,000 -17.6% 33 -5.7%
Fullerton 92835 $483,750 -4.1% 24 +9.1%
Orange 92867 $476,000 -5.2% 24 -33.3%
Mission Viejo 92692 $474,000 -6.1% 43 -21.8%
Costa Mesa 92626 $473,500 -10.7% 30 +0.0%
Huntington Beach 92647 $470,000 -6.0% 29 +38.1%
Orange 92866 $470,000 +0.0% 12 +33.3%
La Palma 90623 $465,000 -20.5% 8 +14.3%
Anaheim 92807 $463,000 +4.0% 22 -50.0%
Huntington Beach 92646 $460,000 +15.3% 56 -5.1%
Laguna Niguel 92677 $460,000 -18.6% 93 +6.9%
Irvine 92606 $438,750 -30.9% 8 -38.5%
Anaheim 92808 $437,000 -22.0% 13 -45.8%
Costa Mesa 92627 $437,000 -9.9% 33 -2.9%
Laguna Hills 92653 $436,000 +11.8% 26 -25.7%
Garden Grove 92845 $425,000 -8.6% 12 +9.1%
Brea 92821 $420,000 -18.1% 31 -6.1%
Placentia 92870 $420,000 -8.3% 40 +14.3%
Orange 92869 $415,000 +6.4% 36 +9.1%
Mission Viejo 92691 $410,000 -12.8% 51 -8.9%
Irvine 92614 $405,000 -14.8% 17 -19.0%
Westminster 92683 $405,000 -1.5% 57 +11.8%
Irvine 92612 $402,500 -14.6% 22 -48.8%
Brea 92823 $401,750 -32.1% 2 -71.4%
Orange 92865 $400,000 -7.9% 19 +5.6%
Cypress 90630 $397,500 -7.9% 36 +20.0%
San Juan Capistrano 92675 $395,500 +10.0% 43 +2.4%
Lake Forest 92630 $377,500 -7.9% 46 -22.0%
Aliso Viejo 92656 $375,000 +2.7% 88 -1.1%
Anaheim 92806 $365,000 -8.5% 12 -33.3%
Buena Park 90620 $360,000 -2.7% 39 +25.8%
Fullerton 92831 $360,000 -16.1% 21 +5.0%
Fullerton 92832 $360,000 +9.1% 13 -13.3%
Santa Ana 92706 $360,000 +2.9% 17 -15.0%
Anaheim 92802 $359,500 +0.6% 17 +21.4%
Fullerton 92833 $335,000 -14.2% 40 -21.6%
Garden Grove 92841 $335,000 -4.8% 17 -45.2%
Garden Grove 92840 $332,500 -7.1% 48 +84.6%
Anaheim 92804 $330,000 -2.9% 38 -19.1%
Garden Grove 92844 $330,000 +0.3% 13 -7.1%
Tustin 92780 $325,750 -10.8% 42 +16.7%
Santa Ana 92704 $325,000 +8.3% 38 -22.4%
Rancho Santa Margarita 92688 $319,000 -17.1% 72 -6.5%
Garden Grove 92843 $318,500 +2.4% 28 +12.0%
Buena Park 90621 $315,000 +14.9% 24 +84.6%
Midway City 92655 $315,000 -10.0% 8 +100.0%
Anaheim 92805 $314,250 -2.4% 20 -56.5%
Orange 92868 $292,500 +17.0% 8 +60.0%
Anaheim 92801 $280,000 -12.5% 37 +164.3%
La Habra 90631 $264,500 -5.2% 34 -17.1%
Santa Ana 92707 $262,500 +7.1% 33 -26.7%
Stanton 90680 $261,000 -9.4% 11 -60.7%
Santa Ana 92701 $247,000 +112.0% 24 +0.0%
Santa Ana 92703 $242,750 -8.4% 34 +3.0%
Laguna Woods 92637 $192,500 -14.4% 37 +12.1%
Total O.C. $425,000 -3.4% 2,511 -3.3%

 

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Real Estate Week In Review

In This Issue

Last Week in Review: President Obama spoke…but what actions will follow?Forecast for the Week: With reports on inflation, manufacturing, and consumer news, there’s sure to be tons of action in the markets.

View: Got stress? Who doesn’t these days…but take a moment and learn a few specific actions you can take to reduce your stress levels.

Last Week in Review
“Actions speak louder than words.”There were certainly important words spoken last week by President Obama. Read on to learn what he said, and what the impact could be on home loan rates.

Last Thursday, President Obama proposed a $447 Billion Job Stimulus Plan, which was larger and broader than most had expected. The program calls for tax cuts, state aid, infrastructure spending, on the job training, plus some surprises like tax cuts for small businesses to encourage hiring and a “Helping More Americans Refinance Mortgages” or HARP plan.  There are no details to the HARP plan as of yet, as the President has just instructed his team to work with Fannie Mae and Freddie Mac, the Federal Housing Finance Agency (FHFA) and lenders to develop the plan.  I’ll be sure to keep you posted as more details emerge on this plan.

Only time will tell how much of the President’s plan will only be talked about… and how much will be put into action that will make a difference. But one thing is for sure:  With 400,000 plus brand new people still filing for first time unemployment benefits every week, action is definitely needed to create jobs. Plus, when you factor in the 3.7 Million people still collecting some sort of benefits, it’s no wonder why consumer confidence and demand is starting to revisit levels seen in the midst of the financial crisis back in 2008.

So what could all of this mean for home loan rates? Some of President Obama’s plan does indeed appear to be stimulative in the short run, and anything that helps growth would be bad for Bonds and home loan rates longer-term. However, in the short term, Bonds—including Mortgage Bonds, which home loan rates are tied to—are benefitting from the continued credit crisis in Europe, as investors see our Bonds as a safe haven for their money. The bottom line is that home loan rates remain near historic lows, which makes this a great time to purchase or refinance a home. Again, if I can answer any questions at all for you or your clients, call or email me anytime.

As we pass the 10th anniversary of the terrible events of September 11, our hearts continue to go out to the families who were impacted on that day. It is a time to stop and remember, and also to consider the people in your life and what is most important about our great country. I stand with you in remembrance.

Forecast for the Week
This week’s economic data is chock full of important reports that could give us hints on whether the economy is slipping into a recession or starting to turn the corner…and the action really heats up in the second half of the week:

  • There will be a double dose of inflation news, beginning Wednesday with the Producer Price Index (which measures inflation at the wholesale level) and then Thursday with the Consumer Price Index. CPI measures changes in the price level of consumer goods and services purchased by households, and this report will tell us if there has been a pick up in prices. If any inflationary signs appear, it could put a dent in Bond prices and home loan rates.
  • Retail Sales for August will also be reported on Wednesday. This gives the investor a gauge on how consumer spending is holding up in these tough times.
  • Thursday brings a double dose of news about the manufacturing sector, with Industrial Production and Capacity Utilization and the Philadelphia Fed Index.
  • Also on Thursday, we’ll see another Weekly Initial Jobless Claims Report. Last week’s claims equaled 414,000, above that important 400,000 level which indicates real improvement in the labor market.
  • Ending the week, Consumer Sentiment will be delivered on Friday-and after the previous reading, any gain will be met with open arms.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

As you can see in the chart below, Bonds and Home loan rates were able to end the week above an important technical level due to continued problems in Europe. If you’re wondering if you can take advantage of this situation, now is a great time to call or email me and learn more.

Chart: Fannie Mae 3.5% Mortgage Bond (Friday Sep 09, 2011)
Japanese Candlestick Chart
The Mortgage Market Guide View…
Stop Kidding Yourself…
And Start Managing Your StressJust about everyone experiences stress and anxiety on some level. High-pressure jobs, relationship issues, and financial worries are just some of the causes of chronic stress. But the real issue is whether you’re managing it correctly. The following information can help you do just that!

What Is Stress?

First, let’s define what we’re talking about. Stress is the body’s way of coping with immediate danger. When confronted by immediate danger, nearly every system in our body modifies itself for the sake of survival. The brain releases hormones that have control over organs, including the heart and lungs, as well as functions such as circulation and digestion.

Why Does it Matter?

The reality is, when you’re facing a short-term crisis, acute stress can actually benefit you. By having a heart that’s capable of beating faster and lungs that can take in more oxygen, the human body is able to react in a fight or flight manner during an emergency. Problems occur, however, when stress is experienced over a long duration—which can wreak havoc on your mind and body.

5 Tips for Reducing Stress

If you find yourself experiencing chronic stress, it is important that you make a commitment to changing certain aspects of your life. Here are five tips to help you get started:

1. Identify the Source – Identify your daily sources of stress along with your sources of comfort. If they don’t readily come to mind, keeping a journal may help. Take special note of any events that consistently put a strain on your energy and time, especially those that elicit a negative physical response like a headache. After several weeks, you should have a pretty good idea of what’s causing your stress.

2. Watch What You Eat – It may sound silly, but a diet that consists of lean proteins, whole grains, fresh fruits, and vegetables has been shown to help reduce stress. It’s a good idea to limit foods containing high amounts of caffeine, sugar, and fat, as well as your consumption of alcohol. You should also reduce your intake of overly processed meals and fast foods.

3. Increase Daily Exercise – Exercise strengthens the heart and circulatory system as well as muscles and joints, all of which are negatively affected by chronic stress.

4. Learn to Relax Relaxation techniques can be as simple as deep breathing and as complex as transcendental meditation. Seek out whatever interests you and learn how to relax. Maybe Yoga or Tai Chi works for you. Maybe it’s just a brisk walk, a short nap, or reading a book during a short break in the day. Or maybe, if your budget permits, you’ll want to try an occasional therapeutic massage.

5. Find Support – If the tips above don’t seem to help, it may be time to seek some help and support. Consult your health plan to see if it covers therapy of this nature. If not, use the Internet to find a support group in your area. Sometimes, just knowing you’re not the only one with stress is enough to create a positive change.

As we work through challenges in the markets and the financial sector, make sure you’re taking time to take care of yourself. Use the tips above to find a healthy balance of work and play in your life!

Economic Calendar for the Week of September 12 – September 16

Date ET Economic Report For Estimate Actual Prior Impact
Wed. September 14 08:30 Producer Price Index (PPI) Aug 0.0% 0.2% Moderate
Wed. September 14 08:30 Core Producer Price Index (PPI) Aug 0.2% 0.4% Moderate
Wed. September 14 08:30 Retail Sales Aug 0.2% 0.5% HIGH
Wed. September 14 08:30 Retail Sales ex-auto Aug 0.3% 0.5% HIGH
Thu. September 15 10:00 Philadelphia Fed Index Sept -10.0 -30.7 HIGH
Thu. September 15 09:15 Capacity Utilization Aug 77.4% 77.5% Moderate
Thu. September 15 09:15 Industrial Production Aug 0.0% 0.9% Moderate
Thu. September 15 08:30 Empire State Index Sept -4.0 -7.7 HIGH
Thu. September 15 08:30 Consumer Price Index (CPI) Aug 0.2% 0.5% HIGH
Thu. September 15 08:30 Core Consumer Price Index (CPI) Aug 0.2% 0.2% HIGH
Thu. September 15 08:30 Jobless Claims (Initial) 9/10 410K 414K Moderate
Fri. September 16 10:00 Consumer Sentiment Index (UoM) Sept 56.3 55.7 Moderate
The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
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$450 per week – 1br – Marriott’s Desert Springs Villas II- One Week Oct 13-20 (Palm Desert)

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$450 per week – $450 / 1br – Marriott’s Desert Springs Villas II- One Week Oct 13-20 (Palm Desert)
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Location: Palm Desert
Two Units available @ $450 each for one week.
Marriott’s Desert Springs Villas II is located in Southern California’s Palm Desert, a prestigious vacation mecca made popular by those who enjoy style and elegance. Our beautiful one bedroom apartments in Palm Desert feature fully equipped kitchens, formal living & dining areas, private balconies, and washer/dryer. While staying at our Palm Desert resort villas, enjoy seven on-site pools, a fitness center, The MarketPlace®, The Grill restaurant, or La Canteen-a bar with daily drink specials. Guests of our Palm Desert villas can also enjoy the adjacent Desert Springs Marriott Resort, with 36 holes of manicured fairways, exquisite tennis facilities, a lavish spa & endless dining options. Our villas in Palm Desert, California, are conveniently located near Palm Springs, Rancho Mirage and Indian Wells. Discover an unforgettable villa vacation at Marriott’s Desert Springs, with luxurious accommodations that offer unrivaled levels of comfort and convenience in beautiful Palm Desert.
We offer free WiFi, free parking & no resort fees!
At Marriott’s Desert Springs Villas II, enjoy complimentary wireless Internet in all guestrooms, villas, and public areas. We also offer free on-site parking and no resort fees.
360 Room Tour – http://www.marriott.com/hotels/photo-tours.mi?marshaCode=ctdvi&pageID=HWGRD&imageID=
1091 Pinehurst Lane, Palm Desert
Contact Information
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Kurt Galitski
877-957-6677
Ca. Licensed #01348644 Broker Certified in Distressed Properties And Foreclosures.

 

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Pricing
Rental Rate: $450 per week
Deposit: none
Taxes: none
Cleaning Fees: none
Availability: Only Available for the week of October 13-20, 2011
Other Information: This is our timeshare and we unfortunately cannot go.
Payment Methods: Paypal, Money Order
Property Location
1091 Pinehurst Lane
Palm Desert, CA 92260
Links
Features

Bedrooms: 1 Property Type: Studio
Bathrooms: 1 Sleeps: up to 4
Parking Spaces: 2 Square Footage: 400
Attributes

Electronics
TV
DVD Player
Stereo
Alarm Clocks
Satellite
Furnishings
Air Conditioning
Patio
Balcony

Powered by vFlyer.com VFLYER ID: 89818003
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All information in this site is deemed reliable but is not guaranteed and is subject to change
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