Orange, CA

CHECKBOOK IRA Using your IRA to buy real estate is becoming more and more popular. Many like the asset protection and convenience of the IRA-Owned LLC. Come learn more at this eductional event. Brad Barth of Barth, Berus & Calderon will discuss the legal aspects of the IRA-Owned LLC which gives its owners "checkbook control" of their IRA funds. Attendance at this free event is limited so please reserve your seat soon. Date: Wednesday October 21st Time: 11:30am - 1:30pm Location: 333 City Blvd West, Orange, CA 92868-2944 Cost: No cost Register: (714) 460-5505

Buying A House In A Down Market Orange California Tip 3

Look out for Motivated Sellers
Some homeowners may want to sell their homes in a hurry. This gives you additional bargaining power. In a situation like this it makes sense to ask if the seller will throw in the lawn mower, furniture or fixtures that you like. You can also ask the seller to cover closing costs in total or in part. Of course, the listing price is always negotiable as well.

Here are a couple of signs that the seller is motivated:

• The home may have been on the market for several months and has undergone several price reductions.
• At the showing the home is empty, which suggests the seller has moved and may be holding two mortgages.

It's very difficult to determine exactly how much leverage you have in any given situation - after all, there are many reasons why someone could be selling. However, your agent can give you a general idea of the seller's motivation. An agent has access to the Multiple Listing Service and can track down the original list price versus the selling price for similar homes in the area. The agent can also find out how long the house has been on the market and determine any price reductions that have occurred.

Many states make deed records and home-sale information available to the general public on the internet. This information will tell you what the seller paid for the home, which, in turn, tells you how much profit the seller stands to make if he or she gets the asking price.

For More information visit www.carlmorales.com

SHORT-SALE YOUR HOME AND SAVE YOUR GREATEST ASSET FROM IMMINENT DAMAGE - ORANGE COUNTY RE/MAX REAL ESTATE -CERTIFIED DISTRESS PROPERTY EXPERT

CALIFORNIA SHORT SALE CDPE® REALTOR®

List you home with Carlos "Carl" Morales at (714) 955-1932

Facing Foreclosure?

Have you missed or about to miss one or more house payments?

LACK OF EQUITY????

Whatever you do DON'T GIVE UP don't ruin your most valuable asset!!!

Are you upside down, having no equity! It does not matter! Save your pride!

We specialize in SHORT SALES where the bank will take a discounted settlement.

We ARE experienced, and this will put you in a much better situation all around.

FREE Consultation. We can only help you.

www.orangecountycashortsale.com

DO YOU HAVE MORE QUESTIONS BUT NOT READY TO CALL YET?
Please review our Short sale Q & A section at

www.orangecountycashortsale.com

We have a great success rate and we do not outsource any of our short sales. All processing is done by an experienced short sale specialist

Benefits include:

**** Your Credit will take lesser damage,

****You will be able to buy a house within 2 years instead of 7.
**** You maybe able to stay in the house longer,
**** Your lender will pay the commission and closings costs of the sale.
**** You sit back, relax and get a new fresh start.

Lic# 01706745

Orange and Orange Park Acres Real Estate Market Report-October 1st, 2009

Orange Active Listings= 255

Lowest priced listing in Orange= $124,900.00
Highest priced listing in Orange= $4,495,000.00

Active Listings Property Type:

• 212 Single Family Residences
• 42 Condos/Townhouses
• 1 Mobile Home
  

Active Listings Sale Type:

• 181 Standard Listings
  
• 13 REO* Listings
• 61 Short Pay** Listings
  

Active Listings Price Range:

• 157 priced at or above $500,000.00
• 98 priced below $500,000.00

Orange Properties in Pending & Back Up Status= 250

Pending & Back Up Status Listing Type:

• 100 Standard Listings
  
• 29 REO* Listings
  
• 121 Short Pay** Listings
  

Orange Properties Sold From 9/1/09-9/30/09= 81

September, 2009 Sales Type:

• 46 Standard Sales
• 20 REO* Sales
• 15 Short Pay** Sales

Lowest Sept '09 Sales Price= $118,000.00
Highest Sept '09 Sales Price= $1,900,000.00

What can you buy in Orange at these prices?:

$118,000.00=

• 1 bed/1 bath condo
  
• 600 s.f.
• Near the 22 fwy, bordering Santa Ana
  

$1,900,000.00=

• 5 bd/5 ba semi custom single family residence
• 5,000 s.f.
• 43,560 s.f. lot
• New construction
  
• Orange Park Acres area in the 92869 zip code
  

*REO= Real Estate Owned. Foreclosed properties currently owned by the lender.
** Short Sale= Properties that are still owned by the borrower. Borrower is attempting to sell the property for less than what is owed to the lender. Lender must approve the reduced pay off amount based on the current market value and borrowers inability to pay the full loan balance.

Buying A House In A Down Market Orange California Tip 2

Tip No.2 - Get Prepared, Orginized and Planned.

Keep in mind, you are probably not the only bargain hunter looking to steal a good deal out there. You may have an edge on the sellers, but another buyer could snap up your great deal if you delay the buying process or if you try to knock down the seller's too much. To make sure that you're able to pounce on a deal at a moment's notice, it makes sense to get pre-approved for a mortgage and to have an attorney on retainer to handle the closing paperwork, in California it is very common to have Escrow companies to handle this costs and paperwork. (To learn more, see Pre-Qualifies Vs. Pre-Approved - What's The Difference? and The Benefits Of Using A Real Estate Attorney.)

It also makes sense to line up a home inspector and an insurance agent. These professionals provide valuable information and let a buyer know early on in the process, during the attorney/escrow review period, what items might need repair as well as what the home will cost to insure.

Do all this investigation with each pertinent party, do not rely only on your realtor, even though we have the duty to assist you and provide you with a full disclosure of the property conditions and neighborhood, you are the investor and if you have a particular concern about neighborhood, streets, house, etc. do hesitate to conact the pertinent entity, we can help you to get in contact once you let us know what you want to find out.

For more information I invite you to visit my website www.carlmorales.com or send me an email at cmorales@ochomes-estates.net you can always call me or text me at 714-955-1932

Thank you all have a great day and don't forget to comback tomorrow for the next tip.

Carlos

Buying A House In A Down Market Orange California

When real estate sales are slow, and there is an extensive inventory of homes for sale, buyers have an opportunity to pick up a house on the cheap. The key word here is "opportunity". There are times when you should pounce and times when you should show restraint and avoid the impulse to buy, if you are able to differenciate between this two types of market it will save you thousands of dollars.

I'm going to provide you 7 Tips to buy a house in a Down Market.

I invite you to join my blog and follow these tips that will empower you to take better and stronger decisions when getting into the house hunting whether you are a sofisticated investor or a first time home buyer, being informed is the key of a successfull investment.

Tip No.1 - Do your Homework

Buyers generally have the advantage in a down market, but this doesn't mean you should walk into a transaction blindly.

Prospective buyers would be wise to search the internet for listings, inquire with a Realtor or real estate agent and also check the local newspapers to gain insight on a particular area. Realtor.com is a good source, you can also visiti my website www.carlmorales.com it will allow you to do some custom searches.

The objective of this research is to get to know the price range for the area. You want to learn what is considered excessive and what is considered low. This research will help you make a reasonable bid and also provide the first inkling that there is bargaining room on a particular home. (To begin with an overview of the buying process and terminology you need to know, check out First-Time Homebuyer Guide.) Available upon request, please call Carlos Morales at 714-955-1932