tag:blogger.com,1999:blog-10665069626660870462024-02-19T02:40:07.316-08:00Paul EskildsenRealtor with Altera Real Estate, serving all of South Orange County, California.Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.comBlogger42125tag:blogger.com,1999:blog-1066506962666087046.post-11765574841566265082010-06-28T10:24:00.000-07:002010-06-28T10:28:29.602-07:00Where to Find MeNot really blogging much on this site - you can find me in these places:<div><br /></div><div><a href="http://www.orangecountydealdetective.com/blog">Orange County Deal Detective</a></div><div><br /></div><div><a href="http://www.whatagentsfeartellingyou.com/">What Agents Fear Telling You</a></div><div><br /></div><div><a href="http://www.leslieeskildsen.com/">LeslieEskildsen.com</a></div><div><br /></div><div><a href="http://www.facebook.com/peski">Facebook</a></div><div><br /></div><div><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script></div>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-588826854286870042009-12-01T18:44:00.001-08:002009-12-01T18:57:09.159-08:00New Tax Credit for Mission Viejo Home BuyersThere are <a href="http://www.leslieeskildsen.com/coto-de-caza.php" mce_href="/coto-de-caza.php"></a><a href="http://www.idxre.com/idx/listingsMap.cfm?cid=37681&lstp=hotSheets&hid=30815">183 homes for sale in Mission Viejo</a> today that will qualify for the new and expanded <a href="http://online.wsj.com/article/SB10001424052748703808904574529512997057836.html" mce_href="http://online.wsj.com/article/SB10001424052748703808904574529512997057836.html" target="_blank">Home Buyer Tax Credit</a> program. The new program, which goes into effect December 1, 2009 applies to any home for sale in Mission Viejo, or anywhere in Orange County, that you buy for less than $800,000.00 The expanded offering also has higher income limits, is not restricted to just first time home buyers, and is available until April 30, 2010. This short video will give you more of the details.<br /><br /><br /><object width="480" height="295"><param name="movie" value="http://www.youtube-nocookie.com/v/2ao9n_Dgz8s&hl=en_US&fs=1&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube-nocookie.com/v/2ao9n_Dgz8s&hl=en_US&fs=1&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="295"></embed></object><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-20563196208475296042009-11-12T18:33:00.001-08:002009-11-12T20:03:16.718-08:00Mystery Home of the Week<a href="http://posterous.com/getfile/files.posterous.com/pauleskildsen/mXWOxE6qWjZmZtTF4Pmkkz09lVvvc0bjperzcsxh4nlRgW4qrbVhxwecTOP2/Around_Coto_035.jpg.scaled.1000.jpg"><img style="width: 399px; height: 300px;" src="http://posterous.com/getfile/files.posterous.com/pauleskildsen/QUuhuROvDMbHu4lcaLjTEiAeNop3jMEW0mMONnCEzKAZa6S7Ck34NN3WUL4s/Around_Coto_035.jpg.scaled.500.jpg" /></a> <p> </p><div> <p>Can you identify this modest <a href="http://www.orangecountydealdetective.com">Orange County home</a>?</p> <p></p> </div> <p style="font-size: 10px;"> <a href="http://posterous.com/">Posted via email</a> from <a href="http://pauleskildsen.posterous.com/mystery-home-of-the-week">Paul's posterous</a> </p>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com2tag:blogger.com,1999:blog-1066506962666087046.post-26490980146048117622009-11-11T18:10:00.001-08:002009-11-12T18:38:18.557-08:00New Expanded Home Buyer Tax Credit<a href="http://posterous.com/getfile/files.posterous.com/pauleskildsen/fzFTNkRv1lRVDb6CwEbcGFoj18KreijnlA3laUwo1QsjAe95jLcwchOV5yoI/New_First_Time_Home_Buyer_Tax_.jpg"><img style="width: 420px; height: 481px;" src="http://posterous.com/getfile/files.posterous.com/pauleskildsen/WJ3hpwcabbXxKWrHMxCu2xHl4cxUuKr9VxkhCttyKZTfCHHRT6mBA2B0paRZ/New_First_Time_Home_Buyer_Tax_.jpg.scaled.500.jpg" /></a> <p> </p><div> <p>New legislation has extended and expanded the old “First Time Home Buyer Tax Credit” – it now applies to people who already own home as well. The picture of the chart from <a href="http://www.realtor.org/">NAR</a> has the details. </p> <p></p> <p>Here are the main points:</p> <p></p> <p class="MsoListParagraph" style=""><span style="font-family:Symbol;"><span style="">·<span style="font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:Times New Roman;font-size:7pt;" > </span></span></span>First time buyers are people who have not owned a home in over 3 years</p> <p class="MsoListParagraph" style=""><span style="font-family:Symbol;"><span style="">·<span style="font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:Times New Roman;font-size:7pt;" > </span></span></span>Credit for first time buyers is $8,000</p> <p class="MsoListParagraph" style=""><span style="font-family:Symbol;"><span style="">·<span style="font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:Times New Roman;font-size:7pt;" > </span></span></span>Credit for current home owners is $6,500</p> <p class="MsoListParagraph" style=""><span style="font-family:Symbol;"><span style="">·<span style="font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:Times New Roman;font-size:7pt;" > </span></span></span>Current home owners must have lived in the home being sold for 5 consecutive years out of the last 8 years</p> <p class="MsoListParagraph" style=""><span style="font-family:Symbol;"><span style="">·<span style="font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:Times New Roman;font-size:7pt;" > </span></span></span>The income limits are increased to $125k/$225k single/married</p> <p class="MsoListParagraph" style=""><span style="font-family:Symbol;"><span style="">·<span style="font-style: normal; font-variant: normal; font-weight: normal; line-height: normal; font-size-adjust: none; font-stretch: normal;font-family:Times New Roman;font-size:7pt;" > </span></span></span>You must be under contract by April 30 and close escrow by July 1, 2010</p> <p></p> <p>Ready to start shopping? Try looking <a href="http://www.leslieeskildsen.com/">here</a> or <a href="http://www.orangecountydealdetective.com/">here</a>!</p> <p></p> </div> <p style="font-size: 10px;"> <a href="http://posterous.com/">Posted via email</a> from <a href="http://pauleskildsen.posterous.com/new-expanded-home-buyer-tax-credit">Paul's posterous</a> </p>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-87936554737891903712009-10-19T18:44:00.000-07:002009-10-19T18:51:52.680-07:00Bank Owned Listing Update - 2 Closed SalesHere's a little status update on our Bank Owned Listings:<br /><br /><a href="http://reo-bridgeport-ana.blogspot.com/"><span style="font-size:100%;">2834 W Bridgeport Ave, Anaheim</span></a> - In Escrow, accepting backup offers<br /><br /><a href="http://215bknoxstcm.blogspot.com/">215 Knox Street B, Costa Mesa</a> - <span style="font-size:180%;"><br /></span><ul><li><span style="font-size:180%;">Price reduced $50,000</span> - offers have been received, so there's no time to waste if you're interested in this one</li></ul><br /><a href="http://11-villa-valtelena.blogspot.com/">11 Villa Valtelena, Lake Elsinore</a> - Sold for all cash, 15% above asking price<br /><br /><a href="http://reobristleconemv.blogspot.com/">21331 Bristlecone, Mission Viejo</a> - Sold for full price<br /><br /><br /><br />If you'd like more info on any of these, or any of our other listings, just contact me or <a href="http://www.leslieeskildsen.com/">Leslie</a> directly!<br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-86482385494179992812009-10-09T14:36:00.000-07:002009-10-09T14:52:24.639-07:00Market Time of Orange County Homes Continues to FallThe <a href="http://lansner.freedomblogging.com/2009/10/05/oc-homes-for-sale-drop-33-this-year/38673/">"Market Time" benchmark</a> tracked by Steve Thomas of Altera Real Estate has fallen below 2 1/2 months for all <a href="http://www.leslieeskildsen.com/">Orange County home</a>s, and below 1 1/2 months for homes priced between $250,000 and $500,000.<br /><br />Market time is the number of months that it would take to sell all homes currently listed on the MLS at the current transaction rate. Here's a chart that shows the picture:<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGDhBNvAqNQXDiAS2MwptR1HJ78n0NsH8EnEGHHQiVdY5mroUVfHWHT9c0IrPeAqKo8tCEgYN-rWazMkzpercurqYUBhyphenhyphenY65LkoUgLBQi5WZYAqlU3ByFuSUgJcpTCHzsc0abJtIUbUzwR/s1600-h/Market+Time+Chart.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 198px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGDhBNvAqNQXDiAS2MwptR1HJ78n0NsH8EnEGHHQiVdY5mroUVfHWHT9c0IrPeAqKo8tCEgYN-rWazMkzpercurqYUBhyphenhyphenY65LkoUgLBQi5WZYAqlU3ByFuSUgJcpTCHzsc0abJtIUbUzwR/s320/Market+Time+Chart.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5390720649306566146" /></a><br /><br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-6530284060157686452009-09-29T17:52:00.001-07:002009-09-29T18:21:54.838-07:00Watch Out for Loan Mod SharksWe all know there are lots of people struggling to keep their homes today. Unemployment, layoffs, bailouts, <a href="http://www.leslieeskildsen.com/foreclosures.php">foreclosures</a>, and loan modifications are probably some of the most common words in the news, and have been for a while.<br /><br /><span style="font-size:130%;">Shouldn't You Get Professional Help?</span><br /><br />For some people who have certain types of loans a loan modification is a real option, but large numbers of people in distress tends to bring out the scammers. Who can you trust to help in your loan modification negotiation? Normally, the safest answer would be to consult with an attorney.<br /><span style="font-size:130%;"><br /></span><span style="font-size:130%;">Pros Gone Bad</span><br /><br />That's what makes <a href="http://calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10144&n=96395">today's announcement by the State Bar of California</a> so disturbing. They've publicly identified 16 attorneys who are under investigation for misconduct related to loan modifications. The charges against them include taking a fee for services and then failing to perform those services - or even further communicate with the client!<br /><br />The Office of Chief Trial Counsel experienced a 58% increase in active investigations compared to 2008, and 25% of them involve loan modification.<br /><br /><span style="font-size:130%;">What to Watch Out For</span><br /><br />If you or someone you know is having trouble making mortgage payments loan modificaiton might be a good option - but just be sure you are working with someone you know you can trust. Get references, and check them! In addition, the State Bar has identified a list of "red flag" circumstances that could be a sign something isn't right:<br /><br /><ul><li><span style="font-size:100%;">Advertisements of the office do not expressly identify by name the attorney who is responsible for the business.</span></li><li><span style="font-size:100%;">Office staff will not readily identify by name the attorney responsible for oversight of the business.</span></li><li><span style="font-size:100%;">The attorney in charge of the office is too busy or not willing to meet personally with prospective clients.</span></li><li><span style="font-size:100%;">The firm advises a consumer to stop paying the existing mortgage.</span></li><li><span style="font-size:100%;">The business, through its advertisements or claims of its representatives, makes claims that sound too good to be true, such as claims of a 90 or 100 percent rate of success in obtaining loan modifications, or claims that a reduction in the mortgage principal is likely to be achieved. </span></li><li><span style="font-size:100%;">The business demands payment of a large fee, even before obtaining a prospective client’s basic income and expense information, and information about the existing mortgage and present home value.</span></li><li><span style="font-size:100%;">The attorney responsible for the business is not licensed to practice law in the state where the consumer resides.</span></li></ul><span style="font-size:130%;">Are There Other Options?</span><br /><br />One thing to keep in mind is that a loan mod may not even solve the matter for a home owner in distress. Check out this <a href="http://www.leslieeskildsen.com/seller-short-sale.php">list of all the various options</a>, as well as a <a href="http://www.leslieeskildsen.com/short-sale-faq.php">FAQ on Short Sales</a>, and remember to work with someone you know has a track record of success!<br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-84201090223750023302009-09-18T12:13:00.000-07:002009-09-18T12:36:49.795-07:00Proposed Legislation Would Expand Tax CreditSenator Johnny Isakson has introduced new legislation that would significantly expand the existing <a href="http://www.leslieeskildsen.com/first-time-buyer.php">first-time home buyer tax credit</a>. Isakson is a Republican from Georgia, but he was joined by a bi-partisan group of co-sponsors, including Senators Chris Dodd, a Democrat, and Joe Lieberman, an Independent.<br /><br />Here are the key provisions of the bill:<br /><br /><ul><li>The maximum amount of the credit would be increased from $8,000 to $15,000</li><li>The credit would be available to all home buyers, not just first timers</li><li>The current $75,000 and $150,000 income limit for individuals and couples would be eliminated</li><li>The credit would be extended one year from the date of passage</li><li>Buyers could claim the credit on 2009 tax return, even if the purchase was in 2010</li></ul>Another group of senators, including Harry Reid and John Ensign, are pushing for a <a href="http://jacksonville.bizjournals.com/jacksonville/stories/2009/09/14/daily51.html">six month extension of the existing tax credit</a> for first-time buyers.<br /><br />As for support for extending the credit from the White House, <a href="http://www.financial-planning.com/news/homebuyer-tax-credit-may-be-extended-2663923-1.html">Michael Cohn of WebCPA.com writes that</a> spokesman Robert Gibbs has indicated that the administration is the administration’s economic team was evaluating the impact on new home sales and would make a recommendation to the president.<br /><br />The likelihood of the bill's passage is unclear, but it's already had an impact on the market. At least one potential buyer has told me that he's "crossing his fingers" that it will pass - which could translate to buyers adopting a "wait and see" attitude in the short term. If the bill does pass in anything like it's current form, it will eventually add incredible motivation to buyers and increase demand for homes.<br /><br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-47982209508364811692009-09-17T14:52:00.000-07:002009-09-17T18:53:20.772-07:00Bank Owned Home UpdateHere's a little status update on our Bank Owned Listings:<br /><br /><span style="font-weight: bold;">New Pre-Listing Flash!<br /></span><h1 style="font-weight: normal;" class="title"><a href="http://reo-bridgeport-ana.blogspot.com/"><span style="font-size:100%;">2834 W Bridgeport Ave, Anaheim </span></a></h1><br /><a href="http://215bknoxstcm.blogspot.com/">215 Knox Street B, Costa Mesa</a> - Open House this Saturday 11-4<br /><br /><a href="http://11-villa-valtelena.blogspot.com/">11 Villa Valtelena, Lake Elsinore</a> - Multiple offers received, pending investor approval<br /><br /><a href="http://reobristleconemv.blogspot.com/">21331 Bristlecone, Mission Viejo</a> - In Escrow, accepting Backup Offers<br /><br />If you'd like more info on any of these, or any of our other listings, just contact me or <a href="http://www.leslieeskildsen.com/">Leslie</a> directly!<br /><br /><br /><br /><span style="font-weight: bold;">Late breaking update: </span>we now have fully ratified contracts on 11 Villa Valtelena and will open escrow tomorrow.<br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-26587571869070992112009-09-09T18:04:00.000-07:002009-09-09T18:24:03.359-07:00Orange County Homes UNDER Valued by 10%?Jonathan Lansner at the OC Register <a href="http://lansner.freedomblogging.com/2009/09/09/oc-homes-seen-as-too-cheap/35713/">reports today</a> that, according to a model developed by <a href="http://www.globalinsight.com/">IHS Global Insight</a>, Orange County homes are under valued by 10.6%.<br /><br />Here's the chart showing the historical movement of the formula:<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZ9EpPmkZ0dDyiLnJXKaxq4Twlzy6l6DMtw8LVdfrLLHnxL5sboqGZcaDDz7S24_6dCkitE4BsnScoV-udfeckBIa8GpSZ6VEMOFKuOtuRq2Tfq-UGI7asEOtnovU7ugbUdLp8fGiT_Efh/s1600-h/blog-q209valu.png"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 254px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZ9EpPmkZ0dDyiLnJXKaxq4Twlzy6l6DMtw8LVdfrLLHnxL5sboqGZcaDDz7S24_6dCkitE4BsnScoV-udfeckBIa8GpSZ6VEMOFKuOtuRq2Tfq-UGI7asEOtnovU7ugbUdLp8fGiT_Efh/s320/blog-q209valu.png" alt="" id="BLOGGER_PHOTO_ID_5379640678567235602" border="0" /></a><br />IHS uses a blend of regional economic data to calculate the over/under valuation of homes. By this model, the peak of the "bubble" was in the first quarter of 2006 with overvaluation estimated at 34.6%.<br /><br />This is clearly a broad-brush picture, and doesn't deal with various market subtleties. For example, no distinction is made between homes priced under $500,000 vs homes priced over $1 million, which are like two different universes right now. Nevertheless, it's one more small indication that the worst has been seen and Orange County Real Estate is showing signs of a comeback.<br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-23141103888683496782009-08-20T12:26:00.001-07:002009-08-20T12:36:55.712-07:00Insider Info on Bank Owned HomesInterested in finding out about Bank Owned properties before they hit the market?<br /><br />Once a home goes through the foreclosure process it takes a little time for the bank to get the property ready for market. Wouldn't it be nice to be in the loop and have a jump on other potential buyers and investors?<br /><br />Check these out:<br /><br /><ul><li>Newport Heights area of <a href="http://215bknoxstcm.blogspot.com/">Costa Mesa</a></li></ul><ul><li>Single Family Home in <a href="http://reobristleconemv.blogspot.com/">Mission Viejo</a></li></ul><ul><li>Single Family Home with Views of <a href="http://11-villa-valtelena.blogspot.com/">Canyon Lake</a></li></ul><br />Check back regularly - we'll provide updates as these and other properties are prepared for the day they hit the MLS.<br /><br />Want to be sure to always have the inside scoop on these kinds of deals? Check out Leslie's new video - she'll make you her <a href="http://www.youtube.com/watch?v=RStqoxGVd7w">Top Priority</a>!<br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-20764081959487898892009-08-18T11:04:00.001-07:002009-08-18T11:13:25.512-07:00Bank Owned Home - Pre-Market ScoopInterested in info on Bank Owned properties before they hit the market? I've created a <a href="http://reobristleconemv.blogspot.com/">new blog</a> to keep you up to date on one of <a href="http://www.leslieeskildsen.com/">Leslie</a>'s newest assignments from IndyMac / One West Bank.<br /><br />Here's some video of my first walk through the property - stay tuned for more!<br /><br /><object height="245" width="403"><param name="movie" value="http://www.youtube.com/v/cWQBk5d9ArI&hl=en&fs=1&"><param name="allowFullScreen" value="true"><param name="allowscriptaccess" value="always"><embed src="http://www.youtube.com/v/cWQBk5d9ArI&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" height="245" width="403"></embed></object><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-89436605127790772342009-08-10T10:35:00.000-07:002009-08-10T10:51:39.933-07:00OC Real Estate Now a Seller's Market?Steve Thomas of Altera Real Estate <a href="http://lansner.freedomblogging.com/2009/08/10/oc-now-a-sellers-market-broker-says/32759/">tells the OC Register</a> that the number of homes on the market has fallen to just a 2.5 month supply based on his "market time" model. That's down from a 16 month supply at the end of 2007 when the credit crunch hit.<br /><br />The chart below shows the picture:<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqtAb4wuWf5rQ66I2JtpeUPecxem5DpmEC0tAcEcEhHESY2yi4cv5EeQoLUbX8zyc70cPXHaLqMU9cXMGBGeNXNNdbmOZ65NTGsnW_zyFiHducZ0J7HjoFaqWukK-guQDfWe0IkvtkA1Rh/s1600-h/thomas-8-6-09.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 315px; height: 320px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqtAb4wuWf5rQ66I2JtpeUPecxem5DpmEC0tAcEcEhHESY2yi4cv5EeQoLUbX8zyc70cPXHaLqMU9cXMGBGeNXNNdbmOZ65NTGsnW_zyFiHducZ0J7HjoFaqWukK-guQDfWe0IkvtkA1Rh/s320/thomas-8-6-09.jpg" alt="" id="BLOGGER_PHOTO_ID_5368392196941851938" border="0" /></a>What this means is that the market for homes priced below $1 million has heated up, and under $500k it's red hot - multiple offers, cash offers, selling prices above list, and homes selling in 4 weeks or less.<br /><br />Keep in mind, though, that "seller's market" doesn't mean the seller can name his price. It seems that a bottom has formed and prices are no longer dropping, but there are still a significant number of "distressed" properties on the market. Homes that are priced correctly are flying off the shelf, but homes priced above the market comparables are not.<br /><br />Interested in what's on the market in your area? Try searching for <a href="http://www.orangecountydealdetective.com">homes for sale here</a>!<br /><br /><img src="file:///C:/DOCUME%7E1/pse/LOCALS%7E1/Temp/moz-screenshot.jpg" alt="" /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-61704076360405142952009-07-26T12:03:00.001-07:002009-07-26T12:18:52.772-07:00OC Home Sales Climbing - Inventory FallingThe intense buyer competition for homes priced under $500k continues. The <a href="http://www.housingtracker.net/asking-prices/orange-county-california">latest numbers from HousingTracker.net</a> show that the median price has stabilized and is gradually rising, and that inventory (homes listed for sale) is down more than 27% from a year ago. Meanwhile, the number of homes sold each month <a href="http://pauleskildsen.blogspot.com/2009/05/has-oc-housing-market-bottomed-out.html">continues to climb</a>.<br /><br />Do you think the tide has turned? <a href="http://www.orangecountydealdetective.com/time-home-buyer-info/">Check this out</a> if you'd like to find out more about the opportunities for first-time home buyers. Thinking about buying investment property? Sign up for a <a href="http://www.orangecountydealdetective.com/">free home search</a> and find your bargain!<br /><br><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><br><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-19204007078448961072009-07-15T17:24:00.000-07:002009-07-15T17:37:48.401-07:00Home Sales Continue to ImproveHome sales in Orange County continue to show signs of recovery, and the good news is spreading up from the super-hot under-$500k market into the higher price ranges.<br /><br /><a href="http://www.dqnews.com/Articles/2009/News/California/Southern-CA/RRSCA090715.aspx">DataQuick reports</a> that the number of homes sold in Southern California has jumped to it's highest level since 2006, and that the median price was up for the second consecutive month.<br /><br />Perhaps the most encouraging tidbit in the report is this:<br /><br /><p> </p><blockquote><p>Resales of single-family houses priced $500,000 and above rose to 19.6 percent of all existing houses sold in June, up from 18.0 percent in May but still down from 29.2 a year ago. The last time the $500,000-plus market made up more than 19 percent of sales was last October, when it was 19.9 percent. Sales of $500,000-plus houses dipped to as little as 13.4 percent of sales in January this year. </p> The recent shift toward higher-cost markets contributing more to overall sales has put upward pressure on the region’s median sale price...</blockquote><br />Foreclosures and Short Sales continue to be a significant portion of the active market, but most of that activity continues to be in the lower price ranges where homes are in extremely high demand.<br /><br />What's the hottest spot in the OC? <a href="http://huntingtonhomes.freedomblogging.com/">The Register reports</a> that sales in Huntington Beach were up 19% in June compared to last year, topping the overall Orange County increase of 16.5%.<br /><br />Interested in what's on the market in your neighborhood? Check out the <a href="http://www.orangecountydealdetective.com/">Orange County Deal Detective</a> - where you can customize a search for exactly what interests you.<br /><br /><br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-3001071134344027922009-07-08T16:46:00.001-07:002009-07-08T17:13:04.273-07:00Down Payment Help From Surf CityIf you currently live or work in Huntington Beach and would like to become a home owner, the city has a new program that may help you get there.<br /><br />The city council just voted to scrap their controversial "foreclosure purchase" program in favor of a <a href="http://records.surfcity-hb.org/sirepub/cache/16/bfvfuxzpigfykvmzevb0o555/123899307072009080858992.PDF">new initiative</a> that provides down payment assistance for low-to-moderate income families.<br /><br />The program provides over $1,000,000 to be loaned to qualified home buyers, with a maximum loan amount of $100,000 per buyer. The loans are "interest free", but call for a portion of any future profit from appreciation in the value of the home to be shared with the city. This "equity increase sharing" is phased out over time. If the buyer stays in the home for 30 years only the original loan principle would be due.<br /><br />There are several qualification requirements, including residency and income limits, but for the right family this could be a real boost.<br /><br />The program will be administered by the <a href="http://www.affordable-housing.org/">Affordable Housing Clearinghouse</a>, which also administers several other programs.<br /><br />Interested in what's available in Surf City? <a href="http://www.idxre.com/idx/hotsheets.cfm?cid=37681&hid=22615">Click here to search for homes for sale in Huntington Beach</a>.<br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-12208059773695414412009-06-26T10:48:00.000-07:002009-06-26T10:56:20.277-07:00Mello-Roos Follow-UpSharon Whaley at <a href="http://www.disclosuresource.com/about_faq.html">Disclosure Source</a> reminds me that Mello-Roos taxes are not fixed - they can rise, and sometime at significantly more than the 2% annual rate that applies to the base property tax rate. The home seller and agent have a legal responsibility to disclose the maximum amount that the Mello-Roos tax can reach, which is why it is critical to obtain a compliant Natural Hazards Disclosure (NHD) Report with a Mello-Roos determination from a reputable company!<br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-53806046381225060062009-06-26T08:40:00.000-07:002009-06-26T10:22:37.680-07:00Property Tax Info at Your (Cyber) Fingertips<span style="font-size:100%;">While homes in Orange County are <a href="http://www.leslieeskildsen.com/blog/first-time-buyers-make-a-comeback.html">more affordable than they've been in years</a>, there's a potentially expensive trap out there for the unsuspecting buyer.</span><br /><br /><span style="font-size:130%;">Property Tax Basics</span><br /><span style="font-size:100%;"><br />California's <a href="http://www.hjta.org/prop-13-official-website">Prop 13</a>, passed in 1978, capped property taxes at 1% of a home's value, and also limited the amount of increased assessment as a property's value rises to 2% per year. Of course, a home's value is reset each time it is sold, so no matter what the seller's property tax was, a home buyer can expect an annual property tax bill of 1% of the purchase price.<br /><br />Sounds simple, but there's a catch. The "property tax" is not the only liability that shows up on your property tax bill. It may also include a wide array of "special assessments" for various voter approved bonds or other initiatives. The most notorious special assessment is the dreaded "<a href="http://www.californiataxdata.com/A_Free_Resources/faq.asp#faq_04">Mello-Roos</a>" Tax, which is typically a fixed amount rather than a percentage of the home's value. Mello-Roos taxes can range from a few hundred to thousands of dollars per year, while in some communities there are no Mello-Roos taxes at all.</span><br /><br /><span style="font-size:130%;">What Will Your Tax Bill Be?</span><br /><br /><span style="font-size:100%;">How can a buyer determine what the tax bill will be on a home he or she is considering buying? Obviously your Realtor should have this information at his or her fingertips, but it's at your fingertips too! Most counties make such information quickly available online, and Orange County's website is particularly easy to use.<br /><br />The <a href="http://tax.ocgov.com/tcweb/search_page.asp">Orange County Treasurer/Tax Collecter Search Page</a> allows you to search for a specific home by parcel number or address, as well as various other criteria. Once you've found the right home, you can "drill down" to see a summary of the tax assessment - but don't stop there. A the bottom of the page under the summary is a link in small text: "Click Here for Details". This is where the real meat and potatos are hidden.</span><br /><br /><span style="font-size:130%;">A Tale of Two Cities</span><br /><span style="font-size:100%;"><br />Let's take a look at the "details" for two home currently listed for sale - <a href="http://www.leslieeskildsen.com/idx/search.html?submit=true&search_city%5B%5D=LD&search_city%5B%5D=MV&idx=residential&minimum_price=600000&maximum_price=700000&minimum_bedrooms=3&minimum_bathrooms=3&minimum_sqft=2000&minimum_acres=&minimum_year=&search_title=&submit=Search"></a>one in <a href="http://www.leslieeskildsen.com/mission-viejo.php">Misson Viejo</a>, the other in <a href="http://www.leslieeskildsen.com/ladera-ranch.php">Ladera Ranch</a>.<br /><br /></span><span class="idx-data street" style="font-size:100%;"><span class="val">28292 La Caleta in Mission Viejo is currently listed for sale f</span></span><span class="idx-data street" style="font-size:100%;"><span class="val">or </span></span><span style="font-size:100%;">$699,990. Here are the <a href="http://tax.ocgov.com/tcweb/tax_details.asp?APN=81139407&TaxYr=2008&CmpRevDte=79919287&RateTRA=27-006&Suffix=00">tax details</a> from the Tax Collector's website:</span><br /><br /><img src="file:///C:/DOCUME%7E1/pse/LOCALS%7E1/Temp/moz-screenshot.jpg" alt="" /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNrUZi2VitDhSyITGCtNjyJUtbMX3qFk6l9wUanjN2xQRdYu2iLaAf7VB7yc2R1ORcbRN5G9A8qi1SD68l8ChzHe6i2NViBwAVdGlZWvvi3zrykpCV0ruLzsCitaG8I89QkMCMtn_JLY13/s1600-h/taxdetails.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 368px; height: 157px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNrUZi2VitDhSyITGCtNjyJUtbMX3qFk6l9wUanjN2xQRdYu2iLaAf7VB7yc2R1ORcbRN5G9A8qi1SD68l8ChzHe6i2NViBwAVdGlZWvvi3zrykpCV0ruLzsCitaG8I89QkMCMtn_JLY13/s320/taxdetails.jpg" alt="" id="BLOGGER_PHOTO_ID_5351678851870019762" border="0" /></a><span style="font-size:100%;"><br /></span><span style="font-size:130%;"><span style="font-size:100%;">You can quickly substitue the assessed value of $447,754 with your purchase price to determine what your new tax bill will be, but what we're really interested in are the special assessments - those that are fixed amounts regardless of the value. In this case there are four special assessments totalling a whopping $33.81 per year.<br /><br />30 Bedstraw Loop is a similar home located in Ladera Ranch, listed for $700,000. <a href="http://tax.ocgov.com/tcweb/tax_details.asp?APN=74132137&TaxYr=2008&CmpRevDte=79919287&RateTRA=82-377&Suffix=00">Tax details</a>:<br /><br /></span></span><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdGX1DLt8PlVyfC-iqCdxG_bmtRLlZG0EbJbc5N_SKJmN9DGPkYikS73S8LwvOdNPW0S4Rhq-QYAcjy8F9Sva9o8MnzFvaycHI-2DAolhJl76XkOGSiuuDP38kThjYiaW3oO11ncdTgh4D/s1600-h/taxdetails.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 354px; height: 162px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdGX1DLt8PlVyfC-iqCdxG_bmtRLlZG0EbJbc5N_SKJmN9DGPkYikS73S8LwvOdNPW0S4Rhq-QYAcjy8F9Sva9o8MnzFvaycHI-2DAolhJl76XkOGSiuuDP38kThjYiaW3oO11ncdTgh4D/s320/taxdetails.jpg" alt="" id="BLOGGER_PHOTO_ID_5351680940692529922" border="0" /></a><br /><span style="font-size:100%;">Mello-Roos rears it's ugly head - those two special assessments add over $4,500 to the annual tax bill, no matter what price you pay for the home! That effectively adds $375 to the monthly cost of owning the Ladera Ranch home.</span><br /><br /><span style="font-size:130%;">Knowlege is Power<br /><br /><span style="font-size:100%;">Obviously there may be many reasons a buyer would prefer a home in spite of a higher tax bill, but the key is to be aware of the difference in advance so that you can make a well informed decision and not face any unpleasant surprises late in the buying process.</span><br /></span><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-75070826510986919202009-06-18T17:24:00.000-07:002009-06-19T12:31:57.317-07:00OC Median Price Up Again in May<span style="font-weight: bold;font-size:130%;" >Median Increases 3rd Month Out of 4</span><br /><br />As reported in the <a href="http://headlines.ocregister.com/articles/percent-30839-month-orange.html">Orange County Register</a>, "By one measure, Orange County home prices increased for a third time in four months, perhaps indicating that housing is ricocheting off the bottom of the worst recession since the 1930s." The median home price rose about $20,000 to over $400,000. That's the same measure that they most frequently site, even though by their own admission, it is easily skewed by the number of homes sold in a given price range rather than actual price changes for a given market.<br /><br /><span style="font-size:130%;"><span style="font-weight: bold;">Price Per Square Foot</span><br /><br /></span>Let's take a look at what I feel to be a more accurate measure of actual market value, the sales price per square foot. In the same article linked above, the Register said "one local broker predicted that the price per square foot of Orange County homes could fall another 10 percent in the next nine months", but provides no further evidence or even explanation for why this might happen.<br /><br />In 2006 Orange County's average price per square foot stood at $532, and it peaked in 2007 at $540, just before the 'bubble burst". Since then, there has been a steady and continuous decline to the bottom reached in February of this year at $246 per square foot - a drop of 53% over 2 years. That all seems pretty grim, but let's look at the monthly data:<br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBLOrgCslsm952pQADZ0yBavHh6HS9Im1754bXlsOOGzSzYCT9DouuAQo0f5-JEO_3Qm6Cw8YEHrlZMPc8AT3wjfe8prmfe759Z2WRg0rFvs4L8RafhZiZ_MZBF-tsWWNrOgumXKiu5c8z/s1600-h/OC+PPSF+Trend+5-2009.jpg"><img style="margin: 0px auto 10px; display: block; text-align: center; cursor: pointer; width: 320px; height: 245px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBLOrgCslsm952pQADZ0yBavHh6HS9Im1754bXlsOOGzSzYCT9DouuAQo0f5-JEO_3Qm6Cw8YEHrlZMPc8AT3wjfe8prmfe759Z2WRg0rFvs4L8RafhZiZ_MZBF-tsWWNrOgumXKiu5c8z/s320/OC+PPSF+Trend+5-2009.jpg" alt="" id="BLOGGER_PHOTO_ID_5349092639625352434" border="0" /></a><br /><span style="font-size:130%;"><span style="font-weight: bold;">The Good News</span><br /><span style="font-size:100%;"><br />As you can see from the above chart, the average price per square foot for all homes sold in Orange County has held steady for 4 consecutive months at about $248. That flattening of the trend is not surprising considering the <a href="http://www.leslieeskildsen.com/blog/its-a-sellers-market-in-orange-county-real-estate-today.html">feeding frenzy</a> for homes priced below $500,000, as well as the continual drop in available inventory. When was the last time that Orange County homes were selling for less than $250 per square foot? The first quarter of 2003! Prices are at a 6 year low, <a href="http://www.leslieeskildsen.com/blog/first-time-buyers-make-a-comeback.html">almost 50% of households can now afford to buy a home</a>, the number of homes sold has increased year over year for 11 consecutive months, and interest rates continue to hover around 40-year lows.</span><br /><br /><span style="font-weight: bold;">The Time to Buy is Now</span><br /><span style="font-size:100%;"><br />The message is clear - the current housing market represents a once-in-decades buying opportunity. First-time buyers may never see conditions this favorable, especially taking into account the <a href="http://www.leslieeskildsen.com/blog/8000-tax-credit-for-first-time-home-buyers.html">Federal $8,000 Income Tax Credit</a>. Investors have recognized the opening, and are bidding up lower priced homes with multiple all-cash offers.<br /><br /></span></span><span style="font-size:130%;"><span style="font-weight: bold;">The Move-Up Market</span></span><span style="font-size:130%;"><span style="font-size:100%;"><br /><br />There's another group that has an excellent opportunity, and some are beginning to recognize it - homeowners with equity. Yes, they've taken a hit from the peak value of two or three years ago, but for those who didn't "cash out" the depressed prices and excess inventory of larger homes represent a unique chance to "move up". Let's say you bought your 1500 square foot home 8 years ago for $350,000 with 20% down. Through all the ups and downs, it's still probably worth $100,000 more than you paid, and your loan balance as actually fallen some. That $200,000 or so in equity represents the chance to buy a home in the $500,000 to $1,000,000 range at a time when such homes are priced at 6-year lows, and there are hundreds of motivated sellers to choose from!<br /><br /><br /><br /><br /></span><br /></span><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><img src="file:///C:/DOCUME%7E1/pse/LOCALS%7E1/Temp/moz-screenshot.jpg" alt="" /><img src="file:///C:/DOCUME%7E1/pse/LOCALS%7E1/Temp/moz-screenshot-1.jpg" alt="" /><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-60817298108673260512009-06-15T17:06:00.000-07:002009-06-17T10:42:15.509-07:00Industry Leaders Push Congress to Help HousingThe Housing Working Group of the <a href="http://businessroundtable.org/">Business Round Table</a> recently released <a href="http://businessroundtable.org/initiatives/leadership/housing_working_group">detailed recommendations</a> for Congress and the White House aimed at jump-starting the housing market and the economy in general.<br /><br />One key action the group is pushing for is expansion of the <a href="http://www.leslieeskildsen.com/first-time-buyer.php">existing $8,000 tax credit</a> for first-time buyers to a maximum $15,000 tax credit for all home buyers, with no income limitations, and the removal of several other restrictions.<br /><br />Other recommendations of the group include:<br /><br /><ul><li>Keep mortgage interest rates at historically low levels (below 5 percent) for at least one year</li><li>Conduct a thorough review of current foreclosure mitigation and loan-modification programs in light of rising loan-modification re-default rates</li><li>Make permanent the current temporary conforming loan limits</li><li>Continue to review and strengthen government efforts already underway to review and refine mortgage lending practices</li></ul><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript"><br />digg_skin = 'compact';<br />digg_window = 'new';<br /></script><script src="http://digg.com/tools/diggthis.js" type="text/javascript"></script><script type="text/javascript" src="http://tweetmeme.com/i/scripts/button.js"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-4088821399750256892009-06-09T11:41:00.001-07:002009-06-09T12:09:01.474-07:00Where Have All the REOs Gone?Check out this chart:<br /><img src="file:///C:/DOCUME%7E1/pse/LOCALS%7E1/Temp/moz-screenshot.jpg" alt="" /><img src="file:///C:/DOCUME%7E1/pse/LOCALS%7E1/Temp/moz-screenshot-1.jpg" alt="" /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqmAAj6IR5Y9ZUWxHksn-ISkxl8wTJxvBHZGzudag0DRbqTU3GY0nxhAvKxs1F9Qgy69Cl2RFePYJK1KS_AVtgTx1G01g1AwDnZkBLFF2m-i7xUoC-nGj7VhzHY-ZYOv3K1G9O32nL-GL_/s1600-h/REO+Chart+6-2009.jpg"><br /></a> <table style="border-collapse: collapse; width: 383px; height: 135px;" border="0" cellpadding="0" cellspacing="0"><col style="width: 89pt;" width="119"> <col style="width: 71pt;" width="94"> <col style="width: 75pt;" width="100"> <col style="width: 101pt;" width="134"> <col style="width: 113pt;" width="151"> <tbody><tr style="height: 15pt;" height="20"> <td style="border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color white; border-width: medium medium 1pt; background: black none repeat scroll 0% 0%; height: 15pt; width: 89pt; font-weight: 700; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;" width="119" height="20"><span style=""> </span><br /></td> <td class="xl64" style="border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color white; border-width: medium medium 1pt; background: black none repeat scroll 0% 0%; width: 71pt; font-size: 11pt; color: white; font-weight: 700; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" width="94">Jan 09<br /></td> <td class="xl64" style="border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color white; border-width: medium medium 1pt; background: black none repeat scroll 0% 0%; width: 75pt; font-size: 11pt; color: white; font-weight: 700; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" width="100">May 09<br /></td> <td class="xl64" style="border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color white; border-width: medium medium 1pt; background: black none repeat scroll 0% 0%; width: 101pt; font-size: 11pt; color: white; font-weight: 700; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" width="134">June 09<br /></td> <td class="xl64" style="border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color white; border-width: medium medium 1pt; background: black none repeat scroll 0% 0%; width: 113pt; font-size: 11pt; color: white; font-weight: 700; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" width="151">Active<br /></td> </tr> <tr style="height: 15pt;" height="20"> <td class="xl64" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; height: 15pt; font-size: 11pt; color: white; font-weight: 400; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" height="20">All OC</td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>1,681 </td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>2,409 </td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>603 </td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>9,357 </td> </tr> <tr style="height: 15pt;" height="20"> <td class="xl64" style="background: rgb(155, 187, 89) none repeat scroll 0% 0%; height: 15pt; font-size: 11pt; color: white; font-weight: 400; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" height="20">Short Sales</td> <td class="xl63" style="background: rgb(155, 187, 89) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>306 </td> <td class="xl63" style="background: rgb(155, 187, 89) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>428 </td> <td class="xl63" style="background: rgb(155, 187, 89) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>223 </td> <td class="xl63" style="background: rgb(155, 187, 89) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>2,610 </td> </tr> <tr style="height: 15pt;" height="20"> <td class="xl64" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; height: 15pt; font-size: 11pt; color: white; font-weight: 400; text-decoration: none; font-family: Calibri; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;" height="20">Bank Owned</td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>736 </td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>743 </td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>60 </td> <td class="xl63" style="background: rgb(117, 146, 60) none repeat scroll 0% 0%; font-weight: 400; text-decoration: none; -moz-background-clip: -moz-initial; -moz-background-origin: -moz-initial; -moz-background-inline-policy: -moz-initial; text-align: right;font-family:Calibri;font-size:11pt;color:white;"><span style=""> </span>417 </td> </tr> </tbody></table><br />In January of this year, <a href="http://www.leslieeskildsen.com/foreclosures.php">Bank Owned homes</a> accounted for 44% of all the homes sold in Orange County. In May, that number had fallen to 31%, and the trend continues. Bank Owned properties currently make up only 4% of <a href="http://www.leslieeskildsen.com/idx/map/">all homes on the market</a>, and for the first week of June only account for 1 in 10 of the properties sold or placed in escrow for sale. <a href="http://www.realtytrac.com/ContentManagement/Library.aspx?ChannelID=9&ItemID=6379">RealtyTrac reports</a> that foreclosures are still happening at a record pace, but they have not yet hit the market. The net impact has been a firming up of prices and intense competition for homes priced below $500,000.<br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript"><br />digg_skin = 'compact';<br />digg_window = 'new';<br /></script><script src="http://digg.com/tools/diggthis.js" type="text/javascript"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-33024102019090986992009-06-07T11:17:00.000-07:002009-06-07T11:19:15.019-07:00First Time Buyer Information Page<p>Thinking about taking the plunge and buying your first home? We've created a new <a href="http://www.leslieeskildsen.com/first-time-buyer.php" mce_href="/first-time-buyer.php">web page just for first time buyers</a>. Check it out to learn some of the details of the <a href="http://www.recovery.gov/?q=content/act" mce_href="http://www.recovery.gov/?q=content/act" target="_blank">Federal Tax Credit</a> and the new <a href="http://www.car.org/aboutus/hafmainpage/carhafmortgageprotection/?redirectFrom=login" mce_href="http://www.car.org/aboutus/hafmainpage/carhafmortgageprotection/?redirectFrom=login" target="_blank">CAR Mortgage Protection Plan</a>. You can also visit our <a href="http://www.leslieeskildsen.com/buyer-quickstart.php" mce_href="/buyer-quickstart.php">Home Buyer's Quick Start page</a>.</p><p> </p><p> </p><p> </p><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script><br /><script type="text/javascript"><br />digg_skin = 'compact';<br />digg_window = 'new';<br /></script><script src="http://digg.com/tools/diggthis.js" type="text/javascript"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-25932330688941015952009-06-03T13:40:00.000-07:002009-06-03T13:48:49.983-07:00Low End Hopping - High End SlowSay, the topic of discussion on this <a href="http://huntingtonhomes.freedomblogging.com/">OC Register blog</a> sure sounds familiar....<br /><br />Here's a quote from the Insider Update newsletter we sent out this month:<br /><br /><blockquote>It's been a wild ride for Real Estate over the last two or three years, but there are some signs that the market is beginning to stabilize. Although the much-reported Median Price continues to drift downward, homes are selling at a faster clip - April was the 13th month in a row of year-over-year sales increases. <br />One big reason the median price is still dropping is price pressure and less activity on homes over $500,000. Homes priced above the $1,000,000 mark are selling slowly, but for those priced under $500,000 it's an entirely different story. Buyers in that price range are faced with a defacto "seller's market" - reduced inventory, multiple offers, offers above asking price, and intense competition for Bank Owned and "Equity Sellers", as opposed to Short Sales. A few months ago, Bank Owned and Short Sale homes each made up about one-third of the homes for sale, but those REOs are almost gone. Rumours abound of a coming wave of new foreclosures and Bank Owned properties to hit the market, but for now there aren't many to be had.<br /></blockquote><br /><br />Want a copy? Just shoot me an email or register at <a href="http://www.leslieeskildsen.com">www.leslieeskildsen.com</a>.<br /><br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-86619299950931531912009-06-03T09:57:00.000-07:002009-06-03T11:45:08.340-07:00Use Your Tax Credit to Lower Closing Costs!First-time home buyers got another boost from HUD last week, when it was announced that buyers who qualify for a <a href="http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit">one-time tax credit of up to $8,00</a><a href="http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit">0</a> can now <a href="http://www.realtor.org/RMODaily.nsf/pages/News2009052901?OpenDocument">apply that credit towards closing costs on an FHA loan</a>, or to increase their down payment from the required 3.5%.<br /><br />Thinking about taking the plunge? Check out our <a href="http://www.leslieeskildsen.com/buyer-quickstart.php">home buyer's quick start tips</a>!<br /><br /><br /><script type="text/javascript" class="owbutton" src="http://www.onlywire.com/button"></script>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0tag:blogger.com,1999:blog-1066506962666087046.post-85227262719688479602009-06-01T18:39:00.001-07:002009-06-01T18:45:20.236-07:00Real Estate Activity for May 2009Check out the latest Real Estate activity for the month of May:<br /><br /><a href="http://www.leslieeskildsen.com/blog/saddleback-valley-real-estate-activity-for-may-2009.html">Saddleback Valley</a> (Coto, Rancho Santa Margarita, Mission Viejo, Trabuco Canyon, Ladera Ranch, and Lake Forest)<br /><br /><a href="http://www.leslieeskildsen.com/blog/coto-monthly-activity-for-may-2009.html">Coto de Caza</a><br /><a href="http://www.leslieeskildsen.com/blog/rancho-santa-margarita-activity-for-may-2009.html"><br /></a><span style="font-size:100%;"><a href="http://www.leslieeskildsen.com/blog/rancho-santa-margarita-activity-for-may-2009.html">Rancho Santa Margarita</a> (</span><span style="font-size:100%;">including Dove Canyon, Rancho Cielo, Robinson Ranch, Wagon Wheel, Las Flores, and Walden)<br /><br /><a href="http://www.leslieeskildsen.com/blog/mission-viejo-activity-for-may-2009.html">Mission Viejo</a><br /></span>Paul Eskildsenhttp://www.blogger.com/profile/01343458727094778031noreply@blogger.com0