Fullerton, CA

Any buyer that has been looking for a starter home in Fullerton or in Orange County for the past few months knows exactly how fierce this market is! 

If you are lucky enough to win the offer war as a buyer, then your next hurdle is with the appraisal.With values coming in so low because of out of area appraisers, short sales sold extremely below market value and everything else. We often bite our nails off hoping to get the "all clear" on the appraisal.  I was having a conversation with another Realtor today and she had a perfect way to explain it to our poor buyers and sellers who are just exhausted by the whole situation!

Market Value - This is the price that the market will bear.  When you have 40 buyers for a home, this will drive the market value up. If you end up with 10 buyers that are willing to pay $400,000 for a house, this becomes the "Market Value".

Appraised Value - This is the value that the appraiser will assign the property. Lately, I am hearing that lots of "appraised values" are coming in EXTREMELY low and it is hurting home owners that are trying to re-finance or sell their properties.

What it was worth in 2006 - Unfortunately this is the toughest. Every single seller (and I mean EVERY one) knows what their house WAS worth at the peak; yours truly included. No one is immune to this and it is really tough to sit down with a seller to talk about listing their home for hundreds of thousands less than it was worth then; especially if that is when they bought it. It can be heart breaking. 

That market will go up, it will go down and right now, it is just darn crazy!  The bottom line is that if you can make your mortgage, make it. At some point, it will go back up. It always has!

If you are a home owner and can't make your mortgage; there are resources available.  I am one and it won't cost a thing to have a conversation about it and it is completely confidential!________________________________________________________________

Cristal Drake – Fullerton Realtor (R)...At Your Service for all your Fullerton area real estate needs! Prudential California Realty - 714-423-7525. DRE#: 01272061. All information in my blogs is believed to be accurate but is not guaranteed. Copyright 2009 all rights reserved.

Search The MLS Here!

I was holding an open house this weekend in a community that I specialize in. While at the open house I had a conversation with a couple about a short sale llisting in the community that they loved and wanted to purchase. I was told how their offer was accepted by the seller and then turned down by the listing agent because they did not want to pay the listing agent's short sale transaction fee!

I was shocked to hear that the listing agent was trying to get the buyers to pay him to do his job! Basically that is what a short sale transaction fee is! My feeling is that if an agent can't negotiate his own short sale and chooses to pay "an assistant" they it's the listing agent's expense.

I am going to be researching with CAR to find out if this practice is even legal.

What are your thoughts on listing agents charging buyers "short sale negotiator fees"?

Written By Tina Maraj, REALTOR Since 1989! www.TinaMaraj.com

Fullerton Chamber of Commerce Ambassador

Follow Me on Twitter http://twitter.com/Tina4Homes

Fullerton California: Looking for some Halloween Fun for the Family? Tina Maraj of RE/MAX North Orange County will be a "scary" part of the Cast at the 6h Annual Fullerton Arboretum's Haunted Garden being held Friday October 23rd and Saturday October 24th.

This is a Halloween event for all ages that offers 3 tours through the "Haunted Garden" beginning at 6:30 P.M. on Friday evening. On Saturday there will be a "Children Party" from 1 to 3 P.M. for younger, children 3 to 5 years of age. Comencing with the last 3 tours on Saturday evening.

This is my first year participating in this event. I was an organizer and cast member of The Placentia Founders Society Haunted House at the Bradford House for about 6 seasons until they closed. I received so many calls last year from my old blogs on The Bradford House event from local Fullerton, Placentia and Yorba Linda families asking about local Halloween events and I had no suggestions for them! When I heard of this event I felt to compelled to join my to keep "The Halloween Spirit Alive" locally says Maraj.

Written and Posted By Tina Maraj www.TinaMaraj.com

Event Details:

The "Deadline" for reservations and pre-paid admissions is October 21st. Your reservation gives you a priority spot in line at your assigned time. Children 12 and under are $6( may not be appropriate for children under 5 ); teens and adults cost is $10. Admission at the door is $8 per child and $12 per adult, if space available. Space is limited and reservations can be made beginning September 1 by clicking the "Shopping Cart" link below or by calling the Haunted Hotline at 657.278.4002.

http://fullertonarboretum.org/pdf/Haunted09-2.pdf

AB 957 will ensure that home buyers can use local escrow services to provide better service at lesser cost in the purchase of Bank Owned houses.

It is about time that the banks were forced to do what they should have been doing anyway. From now on, REO sales will not be forced to use the bank hand-picked services (and service is not what they are about). We are talking about escrow providers as well as title companies. California "got it right" this time - let the free market, not the banks, pick the best "service" suppliers for real estate transactions.

Why it took so long for legislation to see the light is amazing -- Banks were contracting for the lowest bidders for services, and then everyone else was left to suffer the poor or inferior service. That has all changed now -- life will be a little bit easier and way more fair.

Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying. Also review neighborhoods to get a comparison of the areas.

If we use Fullerton real estate as any gage at all, then REO (bank owned) homes are still very hard to find. At this moment there are on 14 of them in all of Fullerton. These are single family homes, not condos. Of these, 9 are priced under $400,000, which is to say that the low end of the market has more available than any other segment. We are sure this is due to the mortgage defaulting situation of lower income families - but this is also where the "bargain hunters" are shopping. Homes in this range move very quickly, thus creating the "hard to find" situation.

Looking for these homes can be easily done at North Orange County real estate or at Fullerton real estate.