Huntington Beach, CA

Huntington Beach Income Property - Lots of Upside Potential

02-12-12

Christine Donovan Costa Mesa CA Homes Broker/Attorney 800-610-7253 DRE01267479

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Office: (800) 610-7253

Huntington Beach Income Property - Lots of Upside Potential

Huntington Beach Triplex

This property features three Huntington Beach units. One is a three bedroom unit in front, and there are an additional two studios in back. This property needs some work, which has been considered in the price of $485,000, and it comes with great upside potential. A similar property next door sold recently for $600,000.

For more information on this Huntington Beach income property, please contact Christine Donovan at 714-319-9751.

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What Does Short Sale Mean in Huntington Beach Real Estate?

02-09-12

Michael Bates

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Mobile: (949) 791-7325

What is a short sale?

This is a term that is gaining familiarity among those shopping for a home. Basically a short sale, a.k.a. short pay is a term that is used to describe real estate for sale where the seller is listing it and attempting to sell for less than is owed on the mortgage or mortgages. This does require approval from the lender. Some reasons real estate is listed as a short sale are relocation, divorce, job loss, medical problems, and the most common reason today is the mortgage has adjusted up and they can't afford the payments anymore.

Patience is required when placing an offer on a home that is a short sale. Since it needs bank approval, it will take at least two months. Now, the current owner needs to be able to prove hardship and explain why they can't afford the payments and there is no way they can make up the back payments. There are some short sale listings where there is an approval already and that process will proceed as a normal transaction for the most part.

Each bank is very different on the approval process. Some banks are claiming to attempt to be more customer service friendly in the short sale approval process. But, unfortunately, most of the big banks just can't seem to get there. Now don't get me wrong, they have improved over the past two to three years.

If you are a seller, make sure you talk to someone whether it be your CPA or Attorney. You need the guidance and need to know the ramifications of a short sale on your finances.

The bottom line is the short sale approval process is improving, but is still taking months to close. Be Patient!

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Huntington Beach Condos ideal as 2nd Homes

02-07-12

Craig Dahl Orange County RE Broker

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Office: (949) 355-3000

Mobile: (949) 355-3000

Huntington Beach condos are an ideal choice for those looking for second homes. Huntington Beach has numerous condo developments which offer great opportunities for second home shoppers. Condos in Huntington Beach are ideal as a second home with its great weather, entertainment options of the Downtown Huntington Beach area and easy maintenance.

Huntington Beach has great year round weather but it is certainly a huge summer destination for those in areas such as inland Los Angeles County, inland Orange County and Riverside County, not to mention those coming from Arizona. Huntington Beach is a quick drive from these Southern California locations which during the summer will hit 90 to 100 degrees, while Huntington Beach tends to offer a constant 75 to 80 degrees in the summer months. Many from Arizona love Huntington Beach as a way to escape the 100 plus degree Arizona summers.

There are many Downtown Huntington Beach Condos for sale which are located within walking distance to the restaurants and nightlife in the Downtown area. There are also Huntington Beach condos available in the Huntington Harbour area if your taste more to the nautical side.

One of the biggest benefits of owning a Huntington Beach Condo as a second home is the fact it is condo. Condos offer a low maintenance option for the second home owner and anyone who has owned a second home will agree to the importance of low maintenance in a second home. No need to worry about taking care of a pool, no need to mow the lawn, the second home simply shows up and enjoys all the benefits of the condo development.

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Huntington Beach Triplex - Lots of Upside Potential

02-05-12

Christine Donovan Costa Mesa CA Homes Broker/Attorney 800-610-7253 DRE01267479

view my blog
Office: (800) 610-7253

Huntington Beach Units - Lots of Upside Potential

Huntington Beach Triplex

This property features three Huntington Beach units. One is a three bedroom unit in front, and there are an additional two studios in back. This property needs some work, which has been considered in the price, and it comes with great upside potential. A similar property next door sold recently for $600,000.

For more information on this Huntington Beach income property, please contact Christine Donovan at 714-319-9751.

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Huntington Beach Real Estate Market update 2012 Q1

02-01-12

Craig Dahl Orange County RE Broker

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Office: (949) 355-3000

Mobile: (949) 355-3000

Huntington Beach Volleyball Huntington Beach Real Estate Update for February 2012. The local Huntington Beach real estate market remains soft with a high level of distressed properties including REO's and short sales. For the 90 days ended January 31, 2012 the local MLS indicates there were 362 Huntington Beach Homes sold, for an average of 121 per month. There are currently 475 active Huntington Beach Homes listed in the MLS, which equates to slightly less than four months of inventory. This however does not take into effect the shadow inventory, those homes which are either bank owned or soon to be bank owned but have yet to hit the market.

According to Dataquick, the median price for Huntington Beach homes declined 7.89% from the previous year. This is for the month December 2011 compared to December 2010 which is the most recent data available from Dataquick. Demand for Huntington Beach Real Estate remains strong, especially among first time home buyers looking to take advantage of the current low interest rates. According to FreddieMac the average 30 year fixed interest rate is currently at 3.98% which is a close to a historical low. The biggest drag on Huntington Beach homes sales is the long extracted process it takes to close on Huntington Beach short sales. Currently the average time to close a Huntington Beach short sale is 5.5 months with some taking in excess of 18 months.

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