Category Archives: PLACENTIA HOMES

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September Numbers are in…for CA


Well, Quick Data has them…and here they are, like em or not.

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.

http://bit.ly/aYGsC

 http://bit.ly/dCSegZ


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


News in real estate The good,bad, and not so bad…


*

Irvine woman sues over loan modification ‘hoax’

Posted on 18 September 2010

An Irvine homeowner is suing a large national mortgage servicing company, saying they perpetrated a “loan modification hoax” and committed fraud by promising but never granting her a permanent home loan modification..Jean C. Wilcox, who also is a… View full post on The Orange County Register – News Headlines : City Pages

read the rest of the story at: http://bit.ly/bg0yri

*Fullerton Market still has their Farmer Market with music till the last thursday in October!

*GOOD NEWS POPPY’S OWNER HAS BEEN FOUND

*Stocks edge higher on positive tech earnings news

http://bit.ly/9Rk2kU   F.L.O.W. for the love of water. Continue reading