Category Archives: REAL ESTATE NEWS
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Sincerley,
Renee Baccaro Realtor
Mortgage Minute: 05.13.11 ~ Renee BAccaro
Happy Friday -13th everyone!
Mortgage Bonds are trading higher, following a consumer inflation reading that essentially met expectations.
Inflation data shows consumer prices are on the rise, but the report met expectations – hence the contradictory response in Bonds… The headline Consumer Price Index came in at 0.4% for the month, which met expectations…however this reading did carry the year-over-year rate to a hotter 3.2% – up sharply from the prior month’s 2.7% reading. This was the hottest year-over-year headline rate in 2 1/2 years.
Even after stripping out the so-called “transitory” higher costs for energy and food, the Core CPI came in at 0.2%, which was slightly higher than the 0.1% expected. This brought the year-over-year Core rate to 1.3%, up from last month’s 1.2% reading. The takeaway here – one of the Fed’s QE2 goals was to create inflation and avoid deflation – it appears that they have been somewhat successful as the risks for deflation have somewhat abated.
The Consumer Sentiment Index was released this morning and reported that consumer sentiment rose to 72.4 vs the 69.5 expected.
The Euro is stronger today as economic growth in the region came in better than expected.
Did you Know?
Friggatriskaidekaphobia? That the official name for “fear of Friday the 13th.” And this is the only day during 2011 when the 13th will fall on Friday. Historically, Stocks don’t get spooked and tend to move higher on Friday the 13th. If this plays out, it would hurt Bonds…so go ahead and give your lucky rabbits foot a rub just in case. 
Today’s Base Rates:
Mortgage Product Rates APR
30 Year Fixed Conf 4.5% 4.73%
15 Year Fixed Conf 3.75% 4.04%
5/1 Conf ARM 3.125% 3.28%
5/1 Jumbo ARM 4.125% 4.29%
Thought of the Day
To achieve, you must care enough to make the effort but not so much that you’re afraid to fail. The most valuable results are reached by focusing intensely on what you’re doing without attaching your sense of self worth to what you get from it.
Imagine what you could do if you could do without worry. In fact, you can.
Think of how effective you could be if you didn’t have to obsess over how effective you were being. Those who accomplish much, do so by being unconcerned that they might accomplish little.
Have a great day & weekend
Renee Baccaro Realtor
DRE 01718366
DataQuick is in for Orange County
- 27 codes with gains in their respective median selling price. Overall, buyers’ prices were -2.2% vs. a year ago.
- Home-sale pricing up in ZIPs representing 44% of the Orange County market.
- 7 of 83 O.C. ZIPs with median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007. Since that pricing pinnacle, there’s been a 36% drop in the countywide median price!
- Priciest ZIP? Newport Beach 92662 with a $2,395,000 median selling price.
- Current million-dollar ZIPs were 5% of all sales in the most recent period tracked.
- There were 5 ZIPs with medians under $250,000 vs. 4 a year ago. ZIPs with medians under a quarter million had 7% of all sales in the most recent period.
- 47 of 83 O.C. ZIPs had year-over-year sales declines in the period — or 57% of the market.
- Overall, countywide sales were down 7.5% vs. a year ago.
- 3 of 83 O.C. ZIPs has sales gains of 100% or more in the period at the same time as 7 had sales drops greater than 50%!
| Town | ZIP | Price | Yr. chg. | Sales | Yr. chg. |
|---|---|---|---|---|---|
| Newport Beach | 92662 | $2,395,000 | +55.0% | 1 | +0.0% |
| Newport Beach | 92661 | $1,225,000 | -74.9% | 2 | -33.3% |
| Corona del Mar | 92625 | $1,210,000 | -16.3% | 16 | +45.5% |
| Newport Beach | 92660 | $1,185,000 | +5.3% | 25 | +8.7% |
| Newport Coast | 92657 | $1,161,750 | -30.6% | 17 | +13.3% |
| Laguna Beach | 92651 | $1,066,500 | -4.1% | 29 | +31.8% |
| Newport Beach | 92663 | $1,015,000 | -1.0% | 15 | -6.3% |
| Villa Park | 92861 | $880,000 | +8.6% | 3 | +50.0% |
| Irvine | 92602 | $815,000 | +52.9% | 10 | -54.5% |
| Irvine | 92603 | $734,000 | -6.2% | 23 | +27.8% |
| Seal Beach | 90740 | $710,000 | -2.7% | 7 | -36.4% |
| Irvine | 92606 | $600,000 | -11.0% | 8 | +33.3% |
| San Clemente | 92673 | $600,000 | -5.5% | 38 | -9.5% |
| Fullerton | 92835 | $595,000 | +4.4% | 16 | -5.9% |
| San Clemente | 92672 | $590,000 | -2.2% | 28 | -6.7% |
| Los Alamitos | 90720 | $589,000 | -15.9% | 7 | -36.4% |
| Irvine | 92620 | $584,500 | +2.1% | 63 | +103.2% |
| Yorba Linda | 92886 | $575,500 | -11.5% | 47 | -32.9% |
| Dana Point | 92624 | $570,000 | -0.9% | 4 | -55.6% |
| Fountain Valley | 92708 | $570,000 | +0.5% | 28 | -26.3% |
| Trabuco/Coto | 92679 | $568,000 | -9.8% | 25 | -47.9% |
| Huntington Beach | 92649 | $565,000 | -0.7% | 25 | +8.7% |
| Dana Point | 92629 | $552,750 | +16.2% | 18 | -5.3% |
| Santa Ana | 92705 | $552,500 | +6.9% | 23 | -17.9% |
| Ran.S. Margarita | 92618 | $552,000 | +79.5% | 20 | +100.0% |
| Yorba Linda | 92887 | $545,000 | -2.7% | 19 | -17.4% |
| Huntington Beach | 92648 | $530,500 | -19.4% | 34 | +21.4% |
| Mission Viejo | 92692 | $520,000 | +19.5% | 41 | -4.7% |
| Costa Mesa | 92626 | $519,000 | +1.1% | 12 | -55.6% |
| Brea | 92823 | $510,000 | -38.6% | 2 | -50.0% |
| Orange | 92869 | $495,000 | +16.5% | 24 | +9.1% |
| Anaheim | 92808 | $488,000 | +2.7% | 27 | +8.0% |
| Laguna Niguel | 92677 | $470,000 | -16.8% | 65 | -9.7% |
| Irvine | 92614 | $467,500 | -8.0% | 20 | +5.3% |
| Mission Viejo | 92691 | $458,250 | +3.1% | 36 | -28.0% |
| Brea | 92821 | $450,000 | -7.2% | 21 | +0.0% |
| Costa Mesa | 92627 | $450,000 | +12.5% | 32 | +52.4% |
| Cypress | 90630 | $450,000 | -2.2% | 22 | -33.3% |
| San Juan Capo | 92694 | $450,000 | -1.6% | 35 | -5.4% |
| Tustin | 92782 | $450,000 | -18.2% | 23 | -11.5% |
| Huntington Beach | 92647 | $449,250 | -14.0% | 25 | +13.6% |
| Laguna Hills | 92653 | $447,500 | +24.3% | 26 | -13.3% |
| Orange | 92866 | $445,000 | -8.2% | 1 | -85.7% |
| Anaheim | 92807 | $443,000 | -0.4% | 18 | -25.0% |
| Garden Grove | 92845 | $425,750 | -8.4% | 14 | +55.6% |
| Foothill Ranch | 92610 | $425,000 | -29.8% | 12 | +20.0% |
| Irvine | 92604 | $412,000 | -18.4% | 21 | +61.5% |
| San Juan Capistrano | 92675 | $412,000 | +37.3% | 40 | +5.3% |
| Placentia | 92870 | $410,000 | +9.3% | 26 | -13.3% |
| Orange | 92867 | $405,000 | -19.0% | 21 | -22.2% |
| Westminster | 92683 | $400,000 | -2.6% | 48 | -23.8% |
| Irvine | 92612 | $394,500 | -11.3% | 27 | +68.8% |
| Orange | 92865 | $393,500 | -6.1% | 10 | -64.3% |
| Rancho Santa Margarita | 92688 | $387,500 | -9.9% | 52 | +10.6% |
| Fullerton | 92833 | $385,000 | -6.1% | 41 | +5.1% |
| Anaheim | 92806 | $365,000 | -6.4% | 11 | -59.3% |
| Buena Park | 90620 | $359,000 | -8.5% | 30 | +0.0% |
| Garden Grove | 92841 | $355,000 | -12.3% | 23 | +4.5% |
| Huntington Beach | 92646 | $354,000 | -29.6% | 42 | +16.7% |
| La Habra | 90631 | $349,000 | +2.6% | 39 | +11.4% |
| Midway City | 92655 | $343,000 | -16.7% | 2 | -50.0% |
| Garden Grove | 92840 | $342,500 | -4.1% | 28 | -15.2% |
| Garden Grove | 92844 | $339,000 | +23.9% | 10 | -37.5% |
| Garden Grove | 92843 | $335,000 | +11.7% | 28 | +12.0% |
| Anaheim | 92805 | $332,500 | +7.3% | 26 | -36.6% |
| La Palma | 90623 | $320,000 | -41.0% | 7 | +16.7% |
| Anaheim | 92802 | $318,500 | -9.1% | 12 | -42.9% |
| Anaheim | 92804 | $313,000 | -4.3% | 43 | -29.5% |
| Aliso Viejo | 92656 | $312,500 | -13.2% | 56 | -30.9% |
| Orange | 92868 | $305,000 | -2.2% | 7 | -56.3% |
| Anaheim | 92801 | $300,000 | -6.3% | 19 | -26.9% |
| Fullerton | 92831 | $295,500 | -33.9% | 19 | +137.5% |
| Santa Ana | 92706 | $295,000 | -10.6% | 16 | -36.0% |
| Tustin | 92780 | $293,000 | +17.2% | 29 | -14.7% |
| Fullerton | 92832 | $289,500 | -12.3% | 14 | -44.0% |
| Buena Park | 90621 | $287,500 | -16.4% | 22 | +29.4% |
| Lake Forest | 92630 | $287,500 | -21.2% | 43 | +4.9% |
| Santa Ana | 92703 | $250,000 | +17.6% | 36 | +28.6% |
| Santa Ana | 92704 | $235,000 | -15.3% | 45 | -26.2% |
| Santa Ana | 92707 | $225,000 | -0.6% | 37 | -7.5% |
| Stanton | 90680 | $218,500 | -28.4% | 22 | +46.7% |
| Laguna Woods | 92637 | $215,000 | +18.8% | 27 | -10.0% |
| Santa Ana | 92701 | $123,000 | +2.5% | 21 | -22.2% |
| Total O.C. | $410,000 | -2.2% | 2,074 | -7.5 |
Short Sales with Bank of America are improving
Bank of America is leading in helping home owners who are facing selling their home to save their credit as much as possible, called Short-Sells or Short Pay. The link below offers the still complicated but easy access to on-line help. There are links for real estate professionals so waiting for phone help has become unnecessary.
Link:
BudgetEscrow (please put my name in as referral). link for a low escrow cost link: http://bit.ly/glxQ9j
If you need any additional information please email or call me.
Renee Baccaro Realtor
Villa Group Real Estate and Mortgage
(562) 972-9886
Email: reneebaccaro@gmail.com
How to Lower Your Credit Card Interest Rate
Number one New Years Resolution. Get rid of your debt!
Five step Plan
1. HOW MUCH INTEREST ARE YOU ACTUALLY PAYING? HAS YOUR RATE BEEN RAISED?
2. GO ON LINE GOOGLE YOUR CURRENT CREDIT CARD.
What is the new rate for new customers? 0.5% FOR NEW CUSTOMER.
3. COMPARE. WWW.creditcards.com www.lowcards.com www.creditping.com
4. Compare national averages. 5 credit rates. pro sub prime
Are you a good borrower? 700 plus?
5. Call your credit card company. Ask for the floor manager or supervisor. (Be Very Nice!) Tell your credit card company that you are a good borrower with a high FICO score of (700 pluse) and that you are paying a very high… 29.9 % rate. Tell them you want a lower rate.
** They may lower it at first 5% (or more). Make a deal with them; after 90 days get a promise they will lower it by 20%.
If they won’t thats when you shift your balance to a nother credit card company that will.
*Ask to speak to a floor manager or supervisor. Make notes.
Debt Free for Life by David Bach. See video below.
California Association of Realtors 2011 Market View
Hi Everyone,
Here is the 2011 view from C.A.R. It looks like buying a condo may be in your future! Short-Sale Sales are up. C.A.R. says the market is slowling healing…
- View video of the presentation by C.A.R. Chief Economist Leslie Appleton-Young and Deputy Chief Economist Robert Kleinhenz.
LOS ANGELES (Oct. 4) – A weaker-than-expected economic recovery will result in a projected decline in California home sales for 2010, although home sales are expected to edge up slightly in 2011, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) “2011 California Housing Market Forecast” released today.
California home sales for 2010 are forecast to decline 10 percent from the 2009 sales figure of 546,500 homes sold. Sales in 2011 are projected to increase a lackluster 2 percent to 502,000 units compared with 492,000 units (projected) in 2010. After two consecutive years of record-setting price declines, the median home price in California will climb 11.5 percent in 2010 to $306,500 and increase another 2 percent in 2011 to $312,500, according to the forecast.
“California’s housing market will see small increases in both home sales and the median price in 2011 as the housing market and general economy struggle to find their sea legs,” said C.A.R. President Steve Goddard. “The minor improvement in the housing market next year will be driven by the slow pace of recovery in the economy and modest job growth. Distressed properties will figure prominently in the market next year, but we also expect to see discretionary sellers play a larger role,” he said.
“As the U.S. economy continues its tepid recovery, we’ll see some improvement in California’s economy,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “We expect a net jobs increase of approximately 1.4 million jobs in California for the year to come and an improvement in unemployment figures,” she said.
“The situation in the California housing market continues to be a tale of two housing markets,” said Goddard. The segment of the market under $500,000 has been driven by distressed sales, while higher-priced areas of the state have been constrained by restricted financing options, and increasingly have experienced an increase in the number of distressed properties. Sales in the low end have been constrained by a lack of inventory, putting upward pressure on prices. Multiple offers on lower-end homes have been very common, according to Goddard.
“A lean supply of available homes for sale will drive prices up at the low end, but larger inventories and limited, less attractive financing will cause continued softness at the high end,” said Appleton-Young. “There’s some indication that lenders will accelerate the number of foreclosures coming on market, further adding to the housing supply, but we do not anticipate that lenders will flood the market with distressed properties,” she said.
“The wild cards for 2011 include federal housing policies, actions of underwater homeowners, and the strength of the economic recovery,” said Appleton-Young. “What is certain is that favorable home prices and historically low interest rates will continue to make owning a home in California attractive for those who are in a position to buy,” she said.
An expanded forecast presentation will be presented Wednesday afternoon during the CALIFORNIA REALTOR® EXPO 2010 (http://expo.car.org/), running from Oct. 5-7 at the Anaheim Convention Center in Anaheim, Calif. The trade show attracts nearly 7,000 attendees and is the largest state real estate trade show in the nation.
Don’t miss “2010 Econ Panel: The Future of Real Estate Finance and Your Market in 2011” during CALIFORNIA REALTOR® EXPO 2010. C.A.R. Vice President and Chief Economist Leslie Appleton-Young will lead a panel of renowned economists as the experts share their predictions on what the changing economy means for real estate. Panelists include: Richard Green, professor and director of the USC Lusk Center for Real Estate; John Karevoll, housing analyst at Dataquick Information Systems; and Michael LaCour-Little, professor and director of the California State University, Fullerton Real Estate and Land Use Institute. The panel is scheduled to be held Thursday, Oct. 7, from 2 p.m. – 3:30 p.m. at the Anaheim Convention Center.
2011 FORECAST FACT SHEET
| 2005 | 2006 | 2007 | 2008 | 2009 | 2010f | 2011f | |
| SFH Resales (000s) | 625.0 | 477.5 | 346.9 | 439.8 | 546.5 | 492.0 | 502.0 |
| % Change | 0.03% | -23.6% | -27.3% | 26.8% | 24.3% | -10.0% | 2.0% |
| Median Price ($000s) | $522.7 | $556.4 | $560.3 | $346.4 | $275.0 | $306.5 | $312.5 |
| % Change | 16.0% | 6.5% | 0.7% | -38.2% | -20.6% | 11.5% | 2.0% |
| 30-Yr FRM | 5.9% | 6.4% | 6.3% | 6.0% | 5.1% | 4.7% | 5.1% |
| 1-Yr ARM | 4.5% | 5.5% | 5.6% | 5.2% | 4.7% | 3.9% | 4.1% |
Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
Video attched with this graph: http://bit.ly/b67guD
(562) 972 9886
Search our SOCALMLS free @ http://GoAskRenee.com
California Association of Realtors Market Update Video
http://videos.car.org/mediavault.html?menuID=1&flvID=11
The easy way…just watch and listen.
by Renee Baccaro Realtor 562.972.9886
Prudential California Realty
License 1718366
