Category Archives: LA HABRA AND BREA HOMES
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The Power of T.i.m.i.n.g. There is no time like NOW…
The Power of T.I.M.I.N.G.
There is no time like NOW… to list your home for sale expecting to receive one possibly two strong offers then waiting too long…and being reduced to beg for any offer. If you miss this window of opportunity, well that is just what may happen.
Mistakes some sellers make; The time to plan; getting estimates and then the time to do the actual work can take from 2 to 6 weeks; at this point in the season that will leave you the beginning of summer.. If you want a good price for your home then list it NOW. Let us Show it on the weekends when eager buyers are looking. You may get an offer that you like and not have to do anything! You can also use the work needed as an edge to NEGOTIATE with buyers…$3000 carpet & paint allowance. Money you plan on spending anyway can actually help a buyer with the cash for closing costs to buy your home. AND BUYERS ARE LIKE GOLD THESE DAYS. Strategize to give them more to keep them happy and feeling like they are getting the best deal.
There are a number of short-sales and REO’s that has brought the sale values lower… Ask yourself if doing all that extra work is worth it? Putting $2000 to $5000 into your home to look nicer, cleaner, brighter… will not yield you a return of… $25,000. $10,000 will not yield you a return of $25,000. Not in this market. Yes, curb appeal is important. Touch up paint to make it look fresh. Some good ol’ labor…or you can create a job for the handyman in your neighborhood.
Do the very minimum…take all the old curtains off – Clean the carpets $150 + wash the windows = clean and bright! Maintain the yard; mow, trim bushes, weed and water. You can plant flower in the front yard for curb appeal $150 Total =$300.00
Saint Patty’s Day-May- Memorial Day, 4th of July, September – Labor Day – then… it’s all over.
(see full article on www.retalkblog.com – by Renee Baccaro Realtor®
(license DRE 01718366) 562-972-9886 cell
www.GoAskRenee.com - Search for Homes – www.ReTalkBlog.com - Read Articles about the R.E. Market
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(license 01718366) Villa Group Real Estate
Deal for big home in La Habra – 4 bedrooms…2100 sqft 7500 sqft lot
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Read abouve…then call me Easy to show: Renee Baccaro Realtor (562) 972-9886 Lic. 01718366
September Numbers are in…for CA
California September Home Sales
October 21, 2010 An estimated 33,176 new and resale houses and condos were sold statewide last month. That was down 3.1 percent from 34,239 in August, and down 17.5 percent from 40,216 for September 2009. California sales for the month of September have varied from a low of 24,460 in 2007 to a high of 68,114 in 2005, while the average is 44,310.The median price paid for a home last month was $265,000, up 1.9 percent from $260,000 in August, and up 5.6 percent from $251,000 for September a year ago. The year-over-year increase was the 11th in a row, following 27 months of year-over-year declines. The bottom of the current cycle saw a median of $221,000 in April 2009, while the peak was $484,000 in early 2007.
Of the existing homes sold last month, 35.8 percent were properties that had been foreclosed on during the past year. That was up from a revised 35.7 percent in August and down from 41.7 percent in September a year ago. The all-time high was in February 2009 at 58.5 percent.
Now that the elections are over we can focus on our own lives again…and go back to our daily humdrum activities we creators of habit require. We will have to live with out the entertaining commercials watching the candidates tormenting each other spending millions of dollars to do so, will we all struggle to pay our cable bill. Oh yes, the holidays are just around the corner. Corporations like Toys R Us, Best Buy, and JC Penny’s are hiring for the up coming holidays, so get your teens out there and put a pen in their pocket before you push them out the door!
I am reading the same old negative news from our economist and politicians to prepare for a tight light 2010 holiday season. We are told to prepare for a tighter 2011 as well. Now, I have always enjoyed being an optimist, but I realize right now that may be self-sabotaging as far as believing things will miraculously turn around in our California Real Estate Market. I am a Realtor in southern California, hard to see ahead with out shuttering a bit. There are thousands of foreclosures waiting to be listed by Freddie Mac and Fannie Mae. How can that be a good thing? With Short-Sales and so many vacancies. Well, lets look at the positive aspects; no matter what happens if you buy a home now you will pay a very low price and if you get a loan you can lock in in at alarmingly low-interest rates. How can that be a bad thing? For the buyers its fantastic. For the Sellers, if you plan on selling your home and purchasing another home. In this instance you will benefit from a lower property tax rate by purchasing a lower-priced home. Therefor, there is a benefit for each side.
Call Renee Baccaro Realtor Short Sale Specialist with The Real Estate Geeks!
http://goaskrenee.com Search for Homes on the SoCalMLS Free.
Links: The entire article: OC City list of sales for Sept.
10% Jump in September Existing Home Sales
Daily Real Estate News | October 25, 2010 |
10% Jump in September Existing-Home Sales
Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 10 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.
Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.35 percent in September from 4.43 percent in August; the rate was 5.06 percent in September 2009.
The national median existing-home price for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.
NAR President Vicki Cox Golder said opportunities abound in the current market. “A decade ago, mortgage rates were almost double what they are today, and they’re about one-and-a-half percentage points lower than the peak of the housing boom in 2005,” she said. “In addition, home prices are running about 22 percent less than five years ago when they were bid up by the biggest housing rush on record.”
To illustrate the jump in housing affordability, the median monthly mortgage payment for a recently purchased home is several hundred dollars less than it was five years ago. “In fact, the median monthly mortgage payment in many areas is less than people are paying for rent,” Golder said.
Housing affordability conditions today are 60 percentage points higher than during the housing boom, so it has become a very strong buyers’ market, especially for families with long-term plans. “The savings today’s buyers are receiving are not a one-time benefit. Buyers with fixed-rate mortgages will save money every year they are living in their home – this is truly an example of how home ownership builds wealth over the long term,” Golder added.
Total housing inventory at the end of September fell 1.9 percent to 4.04 million existing homes available for sale, which represents a 10.7-month supply at the current sales pace, down from a 12-month supply in August. Raw unsold inventory is 11.7 percent below the record of 4.58 million in July 2008.
“Vacant homes and homes where mortgages have not been paid for an extended number of months need to be cleared from the market as quickly as possible, with a new set of buyers helping the recovery along a healthy path,” Yun said. “Inventory remains elevated and continues to favor buyers over sellers. A normal seasonal decline in inventory is expected through the upcoming months.”
A parallel NAR practitioner survey shows first-time buyers purchased 32 percent of homes in September, almost unchanged from 31 percent in August. Investors were at an 18 percent market share in September, down from 21 percent in August; the balance of purchases were by repeat buyers. All-cash sales were at 29 percent in September compared with 28 percent in August.
Single-family home sales increased 10 percent to a seasonally adjusted annual rate of 3.97 million in September from a pace of 3.61 million in August, but are 19.5 percent below the 4.93 million level in September 2009. The median existing single-family home price was $172,600 in September, down 1.9 percent from a year ago.
Existing condominium and co-op sales rose 9.8 percent to a seasonally adjusted annual rate of 560,000 in September from 510,000 in August, but are 16.2 percent lower than the 668,000-unit level one year ago. The median existing condo price was $165,400 in September, down 6.2 percent from September 2009.
Existing-home sales by region:
Northeast – increased 10.1 percent to an annual pace of 760,000 in September but are 20.8 percent below September 2009. The median price in the Northeast was $239,200, which is 1.4 percent below a year ago.
Midwest – jumped 14.5 percent in September to a level of 950,000 but are 26.4 percent below a year ago. The median price in the Midwest was $139,700, down 5.2 percent from September 2009.
South – sales rose 10.6 percent to an annual pace of 1.77 million in September but are 14.9 percent lower than September 2009. The median price in the South was $149,500, down 2.6 percent from a year ago.
West – increased 5.0 percent to an annual level of 1.05 million in September but are 16.7 percent below a year ago. The median price in the West was $213,600, which is 4.9 percent lower than September 2009.
BEST DEAL IN LA HABRA – REO
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North La Habra Home: $423k north of Whittier Blvd . Ranch Style, One Level Floor 3 bedroom 2 bath beautiful pool home. Square Feet: 1,874 Assessor and Lot Size: 7,350.
On 4th of July the neighbors set the lawn chairs out and watch La Habra High School firework…a little inside secret!
Call me if you want to see this listing. Renee 562.972.9886
Article from NAR Apples and; Oranges: Misleading data
October 26, 2010
By NAR Research
Each month NAR releases the latest reading on existing-home sales, median prices and inventories. As one of the most closely followed barometers of the real estate economy, there is considerable news coverage in print and on the major cable and broadcast channels. Data can be surprising, especially when it differs from what is expected by the legion of analysts who follow the real estate markets. These surprises, when they occur, lead to more intense media coverage than usual.
At times, this coverage can be somewhat perplexing, especially when there are “apples to oranges” comparisons. In the latest instance, September existing-home sales rose 10 percent compared with August, but were down 19.1 percent compared to the same month one year earlier. In one example, a newspaper headline touted the month-to-month rise in national home sales, but gave a much more subdued–one could even say grim–view of local conditions using data comparisons on a year-to-year basis. In another example, the news coverage raises the stakes by putting the latest data in terms of the largest increase or decrease, or in terms of record high or low. While these statements are usually factually accurate, they often miss the point by not putting the latest data point in full context. A record low may imply that there has been a large decrease or, alternatively, if the data is volatile, it may be part of a noisy trend, where month-to-month comparisons are less informative. Such statistical confusion, while likely done with no negative intent, adds to the mixed messages that consumers are seeing when they pick up a newspaper or tune in to the evening news.
The next time you see a headline that grabs your attention take a moment to make sure that everything adds up.
Homeownership Benefits
Benefits of Long Term Homeownership
Every financial decision you make may greatly impact you and your family for a long time perhaps your lifetime. Would it help to know that when you buy a home, you would probably end up living in a house for free after about 10 years? How? That it is better to be paying down your own loan instead of your landlord’s loan. Read the rest of this article for answers.
The vast benefits of Homeownership.
Children
- Children do better in school and later in life that are brought up in a home that is owned by their parents or guardian. Children of homeowners score better on school test.
- Achieve more in life.
- Higher economic ability to earn more in their lifetime.
- Homeownership benefits neighborhoods, providing economic and social media. Homeowners are more likely to participate in local organizations, and homeownership in distressed communities raises neighborhood property values by a significant amount.
- Homeowner’s state there is more satisfaction in owning your own home.
- Do better on school achievement tests, graduate at a higher rate, have fewer behavioral problems, and enjoy a better social environment living in an owned home.
- They score 9% higher on math test, and about 7% higher scores for reading.
- Children of owned home are more likely to graduate from college by 166% and postsecondary achievement by 25% higher.
- Children living in owned homes have fewer behavioral problems than those children living in rented homes.
- Once in a career children of owned homes are less likely to rely on welfare.
- Quality home environment yields a 13 to 23% higher both physically and emotionally.
- Renters’ children experience an average poverty rate of 24%, compared with 18% for homeowners’ children do.
- Children of homeowners are 59% more often home owners themselves.
Home Ownership benefits you & the Economy
- Homeownership is a great economic stimulus in every level of society.
- Mortgage tax deduction.
- Equity factor; retirement
- Fund children’s’ college tuition using your home as a leverage.
- Home equity is one of the largest sources of collateral for bank loans; starts new business.
- Three times more likely to own a business as renters.
Neighborhood benefits
- Larger benefit to landlords as residence because a high rate of homeownership creates positive social benefits.
- Homeowners are willing to pay more for home in a neighborhood with a higher homeowner rate.
Homeowners v. Renters
Overall Voter Participation 25 percent higher
Ability to Identify Congress Member 10 percent higher
Ability to Identify School Board Head 9 percent higher
Voter Participation in Local Elections 15 percent higher
Work to Solve Local Problems 6 percent higher
Garden 12 percent higher
Contribute to Church $150 more per year
Members of Non-Profession Organizations .25 more
For more information on these studies please contact author of this article.
Foot note: (Harkness and Newman 2003). (Haurin, Parcel, Haurin 2000). (Coulson, Hwang, and Imai 2003).
Link to Graph of home ownership trends by the DRE: http://bit.ly/9g5O1D
COUPON FOR $500.00 TOWARD ESCROW FEES
Ask for a coupon to get $500.00 off of your escrow fees when you buy or Sell a home with Renee Baccaro (Lic. 01718366) of Prudential California Realty and Team: The Real Estate Geeks. We have sold over 50 homes a year which includes over % Short Sales. Call or email us to get more information on listing your home, or buying a home.
One per famly/person/escrow only. Expires 12/31/2010
Renee Baccaro Realtor
(562) 972-9886 cell (no soliciting – will report)
webs: www.goaskrenee.com, www.reneebaccaro.com, www.retalkblog.com
Email: reneebaccaro@gmail.com
