Archives for November 2014

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Weichman Realtors Sponsors- Home for the Holidays Costa Mesa Home Tour on December 4th

Home for the Holidays Costa Mesa Home Tour!

Who doesn’t love a good peek inside a stunning home? We do!

The Costa Mesa High School Foundation presents Home For The Holidays 1st Annual Home Tour on Thursday, December 4th from 10am – 3pm.

There will be 5 unique Costa Mesa homes paired with local designers, holiday decorators, along with furnishing stores and landscapers. There will be an open house style tour of the 5 homes and the Mesa Water Native Garden project.

Come and see some of Costa Mesa’s finest homes decked out in their holiday finest. The trees are trimmed and the decorations are hung making you feel welcome into the warm and splendor of the holiday season. Come browse Costa Mesa High School’s Home Tour Holiday Boutique at the Farmers’ Market located at SOCO Collection and then enjoy a healthy lunch between 11:30-1:30pm made with the freshest organic and local ingredients compliments of Greenleaf Gourmet Chopshop in the courtyard at SOCO.

Tickets available through CMHS office, ASB, various SOCO retail shops and restaurants, Costa Mesa City Hall, Weichman Realty, Star Real Estate, ReMax Newport Beach, Greenleaf, The Foley Group, First Bank Newport Beach, Design & Consign. You can also purchase your tickets online here.

The Costa Mesa Home Tour is sponsored by the Costa Mesa Middle & High Schools Foundation. The goal is that this event becomes one of two annual fundraisers held each year to fund all of the programs, supplies, equipment, and capital projects on campus each year. Proceeds that are raised from this event benefit all of our students and this year will be allocated to the arts and science departments to purchase a Baby Grand Piano for the new Performing Arts Center, equipment, supplies, scientific field experiences, and student trips and performance opportunities for the DELTA & ACE Academies.

Come and see some of Costa Mesa’s finest homes decked out in their holiday finest. The trees are trimmed and the decorations are hung making you feel welcome into the warm and splendor of the holiday season. Come browse Costa Mesa High School’s Home Tour Holiday Boutique at theFarmers’ Market located at SOCO and then enjoy a healthy lunch made with the freshest organic and local ingredients compliments of Greenleaf Gourmet Chopshop in the courtyard at SOCO Tickets available through CMHS office, ASB, various SOCO retail shops and restaurants, Costa Mesa City Hall, Weichman Realtors, Star Real Estate, ReMax Newport Beach, Greenleaf, The Foley Group, First Bank Newport Beach, Design & Consign.


The Home Tour hopes to be one of the premier events in our community. We are extending invitations to friends, neighbors and alumni to offer the unique opportunity to place Neighborhood advertisements in our Home Tour “Community Resource Book.” It is our hope that you will join us in this wonderful chance to represent your community.

The Costa Mesa Home Tour Home for the Holidays event will truly showcase our Costa Mesa neighborhoods in the North, East, South and West. The success of the event depends on the support by our entire community.

The Costa Mesa Home Tour is sponsored by the Costa Mesa Middle & High Schools Foundation. Our goal is that this event becomes one of two annual fundraisers held each year to fund all of the programs, supplies, equipment, and capital projects on campus each year. Proceeds that are raised from this event benefit all of our students and this year will be allocated to the arts and science departments to purchase a Baby Grand Piano for the new Performing Arts Center, equipment, supplies, scientific field experiences, and student trips and performance opportunities for the DELTA & ACE Academies.

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Fannie Mae and Freddie Mac Set to Ease Lending While Rates Fall to Year Low

In recent weeks we’ve seen home sales jump, foreclosure starts drop and most recently mortgage rates have hit a yearly low. It would seem that things are beginning to look a little brighter for markets across California, but the good news doesn’t end there. Fannie Mae and Freddie Mac have recently reached a deal to ease lending restrictions, a major victory for those impacted by the ongoing affordability crisis and a step towards a healthier market in 2015.

Fannie

Recently, mortgage giants Fannie Mae and Freddie Mac came to an agreement with the FHFA aimed to loosen the lending standards that have pushed many would-be homebuyers off the market. Soon, those who have a less than perfect credit should find it easier to qualify for a loan, and mortgages should become more affordable for the masses.

According to the new policy, it will be up to the financing firms to establish when banks are required to repurchase loans. Furthermore, the change in policy will reduce the minimum down payment required to qualify to sell a loan to the Fannie or Freddie, dropping from 5% to 3%.

The change is likely result of heavy criticism directed at banks for over tightening loan standards in an effort to avoid liability for loans they sell to Fannie and Freddie. The new guidelines are aimed to assure lenders that they won’t regret taking on higher-risk loans.

What’s more, this news all comes just days after mortgage rates hit a yearly low. The average rate on a 30-year fixed mortgage hit 3.92%in the second to last week of October, 0.21% below the same time one year ago and the lowest point since June 2013.

Do you think the recent change in lending standards will be enough? What are your thoughts?

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Stock Selloff Offers Rate Relief- The Kurt Real Estate Group

Stock Selloff Offers Rate Relief

In early October, investors sold shares in the Stock market and re-allocated money to other investment engines.

The upside to this Stock selloff? Lower interest rates for the housing market—in fact, rates reached their lowest levels in over 17 months in October. Initial estimates by the Mortgage Bankers Association showed week-over-week single percentage gains in home loan applications for both refinances and home purchases.

Lower rates seem to be the only bright side to the housing market recently, which is experiencing a drop in demand due to higher home prices, higher mortgage insurance costs, and fewer fall listings. These factors offset the benefits from lower interest rates, and are dissuading first-time homebuyers, based on a September report from Credit Suisse.

The Homebuying Landscape Evolves
According to a report by Freddie Mac, housing demand in the coming years will be driven by the Hispanic population. This group grew by 59 percent between 2000 and 2013, and is expected to double to almost 128 million in the U.S. by the year 2060!

Investment is also coming from overseas, with foreign interest in the U.S. housing market up 35 percent from April 2013 to March 2014, and still growing. According to an October survey from the National Association of REALTORS®, 7 percent of total existing home sales are made up of foreigners, and of those sales, Asian Indian homebuyers account for the greatest demographic at 6 percent or $5.8 billion, up from $1.9 billion only one year ago.

Altogether, forecasts for housing remain mixed for 2015. While banking analysts lower expectations for home values and home construction, others see this as good news for home prices.

The Bottom Line
Rates remain at some of their lowest levels in over a year, and are highly attractive for a home purchase or home loan refinance. If you would like to inquire about housing and home loan eligibility, please get in touch! I hope you enjoy this month’s issue of YOU Magazine.

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The Kurt Real Estate Group

With metros like Los Angeles, Riverside, and San Diego seeing a 10.7%, 11.1%, and 15.5% increase, respectively, in the number of college grads they’ve gained since 2007, it’s hard to believe that home sales aren’t off the charts. Especially when you factor the job growth SoCal metros have experienced this year.But there are more barriers preventing renters from becoming homebuyers than the lack of inventory and diminishing affordability that notoriously has stunted housing growth. So here are some of the less obvious reasons renters are shying away from taking the homeownership plunge:

• They believe they can actually live in a better neighborhood by renting vs buyingCosta-Mesa-Real-Estate-Kurt
• They think buying a home might limit their freedom and flexibility in the future
• The process of buying a home is deemed too complicated
• They’d prefer to spend money on investments rather than a mortgage
• They don’t plan to be in a certain area for an extended amount of time
• They don’t want to be tied down to the upkeep owning a home requires

Now, some of these reasons are personal and some are market-driven. However, as more inventory becomes available, lending requirements loosen, and economic conditions continue to improve, these market-driven beliefs will become flawed.

So if you found yourself relating to some of the reasons listed above, then keep a finger on housing’s pulse and contact a loan officer to help you determine whether or not your hard-earned money is, in fact, better spent on a mortgage versus investments or rent.

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Open House Saturday November 8th 1-4- Lifestyles Gated Community- Costa Mesa – Price Reduced!
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Bedrooms: 3
Bathrooms: 3
Parking Spaces: 2
Subdivision: LIfe Styles
Lot Size: 4,141
Garage Size: 2
School District: Newport Mesa
Square Footage: 2497
Agent Name: Kurt Galitski
Broker: Weichman Realtors
MLS #: PW14199077
Year Last Remodeled: 2008
Price: $879,000
Flexibility: Negotiable
Additional Pricing Information: Call 877-957-6677 ext. 3809 for 24 hour recorded info about this property.
809 Spirit
Costa Mesa, CA 92626
  • Range/Oven
  • Full Refrigerator
  • Dishwasher
  • Sink Disposal
  • Microwave
  • Fireplace
  • Wet Bar
  • Kitchen Island
  • Vaulted Ceilings
  • Attic
  • Patio
  • Fenced Yard
  • Grass Lawn
$20,000 Price Reduction! Located within Lifestyles, a private gated community and within a short walk to South Coast Plaza, this home features three bedrooms, three bathrooms and an office loft which can easily be converted into the fourth bedroom. The master suite is complete with spa tub, huge stone shower and walk in custom closet. The gourmet kitchen with Thermador and Bosch stainless appliances, center island and stone surfaces will be the envy of any master chef. Additional features include- Home media control and speakers throughout the home, 7 inch baseboards, crown molding, custom motorized window treatments, extensive use of marble, granite and travertine throughout this unbelievable home. The two additional bedrooms are located near the large great room complemented with custom built ins, built in bar, and entertainment center. There’s even a private park with playground in this community.

Kurt Galitski
877-957-6677
Powered by vFlyer.com Equal Housing Opportunity VFLYER ID: 294477010
All information in this site is deemed reliable but is not guaranteed and is subject to change
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