East Costa Mesa CA single level homes continue to be market winners

East Costa Mesa CA single level homes are still market winners.

East Costa Mesa single level homesHomebuyers at East Costa Mesa seem to love the single level and ranch-style architecture, design elements from the 1950’s, and convenience living.

11 East Costa Mesa single level homes were sold during the past 30 days – for time ending September 12, 2016.

  • $1,122,164 was average selling price of those sold single level homes.
  • 1643 SF was average interior size of those sold homes.
  • $642 was average sold price per SF interior.

East Costa Mesa homesSee the 21 East Costa Mesa single level homes now listed for sale here.    

13 East Costa Mesa single level homes are now “under purchase contract” or “pending” sale.

East Costa Mesa is one of the most popular areas for home buyers and renters at Orange County CA, and the current market still favors the sellers.

Connect with Us HereContact us here to see East Costa Mesa homes and selling values and property opportunities.

By Harrison K. Long – Realtor, professional real estate representative. Real estate broker – CALBRE #01410855 – contact by cell or text at 949-7021-2515.  Source of information is CRMLS multiple listing service and is for homes represented by all brokers and agents.

See East Costa Mesa homes for sale – click here

“East Costa Mesa CA single level homes are still market winners.” 

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Top Tustin CA Home Value – 13621 Fairmont Way

Fantastic Home Value at 13621 Fairmont Way, Tustin, CA

13621 Fairmont Way

13621 Fairmont Way

Featured home for sale – and best value for buyers opportunity.

 

Family room opens to amazing kitchen

Family room opens to amazing kitchen

Large detached SFR home with 4 bedrooms and 2.5 baths – more than 2,800 SF of interior living space.

Huge yard with trees and grass

Huge yard with trees and grass

Expansive kitchen opens toward back yard.

Large kitchen space

Large kitchen space

Enormous yard (with lot size of 7,200 SF) for fun family activities, gatherings and entertaining.

Master bedroom suite

Master bedroom suite

Open house house for visitors on Saturday afternoon, June 11, 2016

Dining room for gatherings and entertaining

Dining room for gatherings and entertaining

MLS #OC16091373

See this home and recognize reduced price and real value opportunity at Tustin.

Now Presented at $814,900

Contact us by email, cell or text at 949-701-2515 for a showing or details about this home.

Harrison K. Long, Realtor and agent for seller – CALBRE 01410855 – Realtor and broker associate at HomeSmart Evergreen Realty, Orange County, CA.

“Top Tustin CA Home Value for Buyers – 13621 Fairmont Way”

Posted in Economics of real estate, Explore the OC, OC Property News, OC property value guide, Orange County home sales, Orange County home values, Orange County investors, Orange County property listings, Orange County real estate, Tustin CA homes | Tagged , , , , , , , , , , , , | Comments Off on Top Tustin CA Home Value – 13621 Fairmont Way

Successful Orange County CA Home Sellers Will Focus on Pricing at Fair Market Values

Orange County Property NewsSuccessful Orange County CA home sellers need to focus on pricing to “fair market values” during the last four months of 2015.

Orange County Great Park balloon

Home selling has been hot at Orange County for the first eight months this year.

But the market is now cooling, and seller strategy to “stretch the price” in anticipation of getting more than the last sale has ended.

Home selling markets were hot earlier this year at the OC – with expected market time (amount of time it would take to place a home into escrow relative to then current market conditions) dropped to below two months.  Time to sell detached homes below $500,000 dropped to less than a month.

That very low expected market time allowed sellers to adopt high pricing strategy.

Such seller “anticipation pricing” was when sellers looked at most recent sales and speculated how much more they could get.  Such stretching of price at closing allowed some sellers to take advantage during that hot market.

“Anticipation pricing by sellers resulted from “economic dynamics” of real estate – when supply drops and demand skyrockets, market forces prevail and prices go up.

Orange County is still a home selling market that favors sellers, but expected time to sell has cooled down to about three months.

Buyers are more cautious these days and don’t want to pay more than “Fair Market Value” for a home.

Smarts sellers won’t overprice their homes during the last 4 months of this year 2015 and will look to “fair market values”.  Overpriced homes won’t sell and will stay on the market for months if they sell at all.

The Orange County housing market has climbed back to a healthy place after the recession, and values are up with homeowners sitting on more equity.

“Successful Orange County Home Sellers Will Focus on Pricing according to Fair Market Values during last 4 months of 2015.”

By Harrison K. Long.  Source of some information is ReportsOnHousing.com.  We provide the best professional REALTOR® and broker representation with focus on customer service experience for property owners, buyers and investors.  Contact us to find out more about Orange County homes and real estate buying and selling.

Posted in Live at Orange County, OC Property News, OC property value guide, Orange County business, Orange County home values, Orange County investors, Orange County property listings, Orange County property values, Orange County real estate | Tagged , , , , , , , , , , , , , , , , , | Comments Off on Successful Orange County CA Home Sellers Will Focus on Pricing at Fair Market Values

18 Parliament Place, Ladera Ranch, CA – Open house on Sunday afternoon, April 26, 2015

Open House at 18 Parliament Place, Ladera Ranch CA – Sunday afternoon, April 26, 2015 – presenting an excellent Tattershall home opportunity in one of the most sought-after neighbhorhoods and cul-de-sac street.

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Spectacular home opportunity at fabulous location on one of the most sought-after cul-de-sac streets in Tattershall, Ladera Ranch.

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Wonderful open-concept floor plan with expansive great room kitchen/living area, fireplace and dramatic volume ceilings.
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4 bedrooms including downstairs master bedroom suite and guest bedroom/study, plus huge bonus room.

 

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Spacious kitchen designed with large center island, double ovens and white cabinetry – the perfect space for being together and entertaining friends.

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Great room has lots of windows and opens to back yard.

 

 
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Romantic master bedroom with volume ceilings and two walk-in closets.

Ensuite master bath includes dual vanities, shower and soaking tub.

 

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Second level of home presents 2 generous size bedrooms, both with walk-in closets, and bonus room for work and play.

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Private back yard with built-in grill, bar seating and gas fire pit.

 

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2nd bedroom or study on first level of home.

 

 

 

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3rd bedroom on second level of home

 

 

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Exterior entryway toward front door

 

 

 

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Loft area bonus room located on 2nd level near stairway

 

 

 

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Great room toward stairway to 2nd level

 

 

 
06 copyjpg_17048760246_lGreat room dining area

 

 

 

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Fire pit at back yard patio

 

 

 

 

 

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Home’s additional features include dual-paned windows, recessed lighting and extensive storage space.
Friendly neighborhood close to Flintridge community clubhouse, heated pool, spa, tennis court and playground.

 

 

Ladera lap swimming pool

Award winning Ladera Ranch schools. Community amenities include 18 community parks, private dog park, water park and skate park.

 

 

Flintridge sign-b-18 Parliament Place at Flintridge Village is presented for sale at $819,000 – MLS #15073225

 

 

 

 

 

 

Presented by Harrison and Christi Long – Realtors and professional real estate representatives – Evergreen Realty HomeSmart at Orange County CA – 949-854-7747 (direct) or 949-701-2515 (cell or text).  –  CAL BRE 01410855.

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Home Buying Demand Jumps at Orange County

The Orange County CA housing market has shifted with sudden jump in buyer demand.

IMAG0223 (Large)_optDuring the past month from January 15 to February 15, 2015, buyer demand has increased by 64%.

After the first month of 2015, it looked like this year would be similar to 2014.  However, the market shifted with greater buyer demand during the past month.

Orange County Property NewsHome buyer demand increased by 566 pending sales in the past two weeks and now totals 2,619.   This two week surge was the largest increase since February 2012.  Last year at this time demand was at 2,381 pending sales, 9% fewer than today.  As a result of the rapid increase in demand, the expected market time dropped to 62 days from 78 just two weeks ago, pushing housing deeper into a seller’s market.

Something changed, and the big difference is cheaper money in the form of low interest rates.  Low interest rates are fueling housing demand and, as a direct result, the Orange County housing market has blasted off.

Today’s rates are a half a point cheaper than a year ago.  For a jumbo conforming loan, loans between $417,001 and 625,500, rates are at 4% versus 4.5% a year ago. For the median priced home in December 2014, $591,000, and a 20% down payment, a buyer is looking at a monthly mortgage of $2,257 at today’s rate, versus $2,396 at 4.5%.  That’s a savings of $139 per month, nearly $1,700 per year, or $50,000 over the 30-year term.

Buyers are making wise choices to pull the trigger now – to buy now because rates are cheap and are down to historical lows.

Current home loan interest rates are low, because they have been artificially pushed down by the Federal Reserve for years.  The Federal Fund rate has been kept at nearly zero since December 2008.  They have hinted at raising these rates.  When short term rate increases, long term rates, home mortgages, will soon follow.

Prior to the recession of 2007 to 2009, mortgage rates were about 6.5%.  For the December median sales price home, that’s an extra $731 per month every single month.  In 2000, rates were at 8%, or an extra $1,212 per month.  In 1990, rates were at 10%, and in 1981 they reached 18%.

Today’s rates are unbelievably low – and smart buyers will take advantage of this gift compliments of the U.S. government.

It’s likely that the FED will keep rates in the low to mid-five-percent range within the next couple of years.  That difference in monthly payments will put a dent in buyers’ pocketbooks and their monthly budgets.  Cashing in on low rates today means more disposable income.

Many Orange County CA buyers will continue to look to pay the Fair Market Value for a home this year.   From the official start of spring at the end of March, through the start of summer at the end of June, more homes will come on the market than any other season.  Home selling success will be determined by value and correct seller pricing.

 

By Harrison K. Long, professional real estate representative, Realtor, real estate broker, and professional real estate representative at Orange County CA.  Source of some information is ReportsOnHousing.com and CRMLS multiple listing service. 

Coldwell Banker residential brokerage

Professional real estate agent and broker representation – with help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA. Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.

“Orange County CA Housing Demand blasts off.”

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California Court of Appeal Holds Lender Waived Right to Deficiency Judgment

In First California Bank v. McDonald, a California court of appeal recently held that a lender waived its right to a deficiency judgment where it permitted the sale of real property outside of the judicial foreclosure without the borrower’s consent.

CA laws and Real EstateIn this case – First California Bank v. McDonald – a husband and wife signed a promissory note secured by a deed of trust against certain real property in California.  They also provided additional security in the form of a deed of trust against a different property.  The wife subsequently sold the second property with the bank’s agreement that it would receive the proceeds from that property. There was no release as to the borrowers.  The bank’s note went into default after the husband died.

The bank subsequently filed a complaint for judicial foreclosure and sought a deficiency judgment against the wife and children. The trial court granted summary adjudication as to the bank’s claim for judicial foreclosure ordering the sale of the property.  The court found that the wife and estate representatives were subject to a deficiency judgment for the unpaid amount.

The wife and estate appealed, contending that their arrangement with the bank released its deed of trust as to the second property and that the bank had therefore waived any right to a deficiency judgment under Code of Civil Procedure §726(a).

The court of appeals agreed and reversed.  The appellate court found that the bank failed to follow the requirements of §726 and did not get the wife’s nor children’s consent or waiver that the property was being sold outside of judicial foreclosure.  There was no evidence that the bank obtained their consent to the release of the secured interest in the property and there was no evidence as to how the proceeds of the sale were actually applied. As such, the bank waived its right to a judicial foreclosure.

Source of information is article by Shannon B. Jones, California real estate attorney  –  See court of appeal decision – http://www.courts.ca.gov/opinions/documents/F067812.PDF

By Harrison K. Long, real estate broker, Realtor, professional real estate representative and attorney at Orange County CA.

Coldwell Banker residential brokerage

 

 

We provide professional real estate agent and broker representation – help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.  

This post about California law is for information only and is not the providing of legal services.  If you have questions about legal issues with your real estate situation or transaction, you should contact an experienced real estate attorney. 

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Huge Positive News for Orange County Homebuyers Mortgage Rates Stayed Down

Purchase money lending

Fantastic news for homebuyers is that home loan mortgage rates at Orange County CA went down big-time during 2014 and stayed down.

4.5% was the average rate on a 30-year fixed loan offered by lenders one year ago today –  see article from that time –Mortgage rate watch report for December 28, 2013.

Average payment on a $417k conforming loan one year ago was $2,113 per month.

3.75% is the average rate offered by lenders on a 30-year fixed loan at Orange County today on December 29, 2014 (for those who qualify) –  see article –Mortgage rate watch report for December 28, 2014.

Average payment on that same $417k loan is now $1,930 per month (for those who qualify).

So a monthly payment on that $417k loan now will save a homebuyer $183 per month as compared with same time last year.

What this means is that prospective homebuyers should get organized, qualified or pre-approved with a lender, and move forward with decisions to buy now!

Coldwell Banker residential brokerage

 

 

By Harrison K. Long, Realtor, real estate broker, and professional real estate representative at Orange County CA.    

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.  Contact us at 949-854-7747 with your questions about home prices and values at Orange County CA cities and areas with Home Selling and Real Estate market updates.

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Does a Will Cover Everything I Own?

California estate planningDoes a Will Cover Everything I Own?

No. Generally speaking, your will affects only those assets that are titled in your name at your death. Those assets that are not affected by your will include Life insurance. The cash proceeds from an insurance policy on your life are paid to whomever you have designated as beneficiary of the policy in a form filed with the insurance company—no matter who the beneficiaries under your will may be.

  • Retirement plans. Assets held in retirement plans, such as a 401(k) or an IRA, are transferred to whomever you have named as beneficiary in the plan documents—no matter who the beneficiaries under your will may be.
  • Assets owned as a joint tenant with right of survivorship. Assets such as real estate, automobiles, bank accounts and stock accounts that are held in joint tenancy with right of survivorship will pass to the surviving joint tenant upon your death, and not in accordance with any directions in your will.
  • “Transfer on death” or “pay on death.” Certain securities and brokerage accounts include a designation of one or more beneficiaries to receive the assets in that account when the account owner dies. The names of the beneficiaries are preceded by the words “transfer on death” or “TOD.” Other assets, such as bank accounts and U.S. savings bonds, may be held in a similar form using the owner’s name and the beneficiaries’ names preceded by the words “paid on death” or “POD.”
  • “Community property with right of survivorship.” Married couples or registered domestic partners may hold title to their community property assets in their names as “community property with right of survivorship.” Then, when the first spouse or domestic partner dies, the assets pass directly to the surviving spouse or partner without being affected by the will.
  • Living trusts. Generally, assets held in a revocable living trust are distributed according to the instructions in the trust regardless of the instructions in your will—with no need for court supervision. You can name yourself as the initial trustee of your living trust (most people do), and then name a successor trustee to manage the trust if you become unable to do so. With a living trust, your assets are managed for your benefit during your lifetime and then transferred to your beneficiaries when you die without court supervision. For more detailed information, see the State Bar pamphlet entitled Do I Need a Living Trust? (See #1 for information on ordering pamphlets.)
  • Your spouse’s or domestic partner’s half of community property. In California, any assets acquired by you and your spouse or registered domestic partner from earnings during your marriage or registered domestic partnership are community property. You and your spouse or registered domestic partner own equal shares of those assets. Your will, therefore, affects only your half of the community property. Assets that either of you owned before your marriage or registered domestic partnership, and gifts or inheritances acquired later, are usually separate property. Your will affects all of your separate property assets.

Even if your entire estate consists of assets held in joint tenancy, a life insurance policy and a retirement plan, there are still good reasons for making a will. For example, if the other joint tenant dies before you do, then the property held in joint tenancy will be in your name alone and subject to your will. If named beneficiaries die before you do, the assets subject to a beneficiary designation may be payable to your estate. If you receive an unexpected bonus, prize, refund or inheritance, it would be subject to your will. And if you have minor children, nominating a guardian for them in your will is very important.

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Source of this information is the California State Bar Association (www.CalBar.org). This is for information only about California law and is not the providing of legal services. If you have questions about your own situation and what is covered by your will, you should contact an experienced estate planning attorney.

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Corona del Mar Home Sales and Prices Update

Corona del Mar CA Home Sales and Prices Update

Corona del Mar main beach was an especially exciting place on August 27, 2014 – with huge waves after hurricane swell.

Corona del Mar CA home selling and prices market update shows:

103 Corona del Mar homes are now listed for sale on the CRMLS (as of September 17, 2014).

$3,703,000 is the average list price for Corona del Mar homes – as of September 17, 2014.

27 Corona del Mar homes were sold during August 2014.

$2,038,111 was the average Corona del Mar home selling price during August 2014.

Average CDM home selling price in August this year was 44 percent lower that the average asking price.

This big difference between average list price and average selling price is because of combination: (a) some sellers are asking too much for their homes, or (b) fewer of the high-end estate properties with high prices are selling, or (c) smaller size homes are selling this year.

18 Corona del Mar homes were sold last year during same time August 2013.

$2,800,061 was the average CDM home selling price during August 2013.

So Corona del Mar home selling activity was up during August this year as compared with last year August 2013.

Buyers are looking more at prices this year and expect to pay fair market value relative to recent sales.

CDM home buyers have better options this year 2014 and like upgraded homes and value. Sellers are in control of most contract terms, and buyers have more influence on prices.

By Harrison K. Long. Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Corona del Mar and Orange County, CA.

Source of some information is CRMLS and is for homes sold by all brokers and agents.

Contact us at 949-854-7747 with your questions about homes and property values at Corona del Mar CA.

Corona del Mar Home Sales and Prices Update

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Turtle Rock Irvine CA Homes Showing More and Improved Buying Opportunities

Turtle Rock Irvine remains one of the most sought-after areas for homes, residential living and investment at Orange County CA. Turtle Rock village was planned and developed by The Irvine Company with about 3,300 homes built between 1970 to 1986.

Turtle Rock homeowners and residents treasure their safe and quiet neighborhoods that are so nearby to some of the best and top award-winning schools at Orange County – including Bonita Canyon Elementary and Turtle Rock Elementary and University High School.

Turtle Rock homes are located in the hills area to the east of the University of California Irvine campus.

Turtle Rock selling prices have moderated slightly downward this past 60 days.

  • 12 Turtle Rock area homes sold during the past 30 days from July 24 to August 25, 2014 – with average sold price of $1,166,333 – and 60 days average time on market for those sold homes.
  • During 30 days from May 25 to June 25 this year – 9 Turtle Rock homes sold – with average sold price of $1,394,867.


40 Turtle Rock homes are now listed for sale – with average listed price of $1,240,298 – and average time on market of 72 days.

So buyers have real opportunity this year at Turtle Rock Irvine – where number of selling transactions has moderated during the past 3 months – and average time from list to selling is up from last year. Homes are staying on the market longer at Turtle Rock and Irvine.

Sellers who are serious should price their homes close to fair market value and get best results. Buyers should be able to negotiate price better this year as compared with 2013 and the first part of 2014.

Coldwell Banker residential brokerage

By Harrison K. Long. Source of some information CRMLS and is for homes listed and sold by all brokers and agents.

Professional REALTOR® agent representation and help for property owners, home sellers, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.

Contact us at 949-854-7747 with your questions about home prices and values at Turtle Rock Irvine, Newport Beach, Costa Mesa, and other Orange County CA cities and areas.

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