First Time Buyers!

If you've got a good job then don't wait too long to get qualified to buy a home or investment property.  An increase in interest rates can affect your buying power more than an increase in sales prices.  For every 1 point of interest increase you lose $50,000 in purchase ability. 

If you plan on staying in your home for more than 5 years then no need to worry about a slight decline in sales prices.  It is a buyer's market right now.  Prices and interest rates are at an all time historically low point.

In South Orange County CA, you can buy a single family home under $400,000!! and a condo in Laguna Niguel for $200,000.  We haven't seen those prices in 10 years.  It's harder to get a loan these days, so first step is to talk to a loan officer and find out exactly how much home you qualify for.  Second thing is to get hooked up to my automated homesearch to see the newest listings on the market, so you can be one of the first to make an offer.

Email me with any of your buying questions.  Let's get started ;-)

New Listing in Laguna Niguel

Great Opportunity!! Single family home in Laguna Niguel 3 bedrooms and 3 baths.  1 Bedroom downstairs with closet and bathroom.  On a cul-de-sac street in the middle of the tract.  Close to schools and parks.
Seller asking $500,000 and it's NOT a shortsale....wooohhoooo!!  Give me a call to see it.

OMG! Rates as low as 2.5%!!!

Right now you can get a 5 year fixed rate of 2.5%! and a 30 yr. fixed at 4.12% conventional loan.  And FHA is only 3.5% down payment!

These rates will probably never be repeated for years to come! So if you've been sitting on the fence waiting to see what is going to happen to the real estate market, don't get caught on the up swing!!

Call your lender today and get pre-qualified.  You can buy much more property today than even 3 months ago.  Once the banks decide to raise the rates it can effect your price range by as much as $50k-$100,000 in purchasing power by merely raising the rates 1%. 

So don't be kicking yourself saying, "shoulda', woulda', coulda......'

REO Ghost Inventory

You heard about the ghost inventory that the banks are holding onto?
Well they are still phantoms! No glut of REO's for 2009, and we're still waiting in 2010.
There are still plenty of shortsales which are finally closing just a tad faster. So keep trying.

In Orange County, we are seeing more Standard Sales, non-distressed homeowners, coming
on the market. Slightly higher than the average sales price, but negotiable and quick response times! Most sellers coming to grips with today's prices and swallowing their pride and being more flexible. Thank you Sellers!

Buyers also have learned a hard lesson. Even though we are in a buyer's market, you cannot lowball offers. You must step up to the plate and at least be at market value, or you will find yourself outbid everytime. This may have cost you the $18,000 tax credit you could be receiving had you made realistic offers. Just keepin' it real!!