Lake Forest, CA

Fannie Mae is smarter now ... offering special financing on its REO BANK OWNED HOMES at Lake Forest, California.

22713 MALAGA WAY 3 - 2 bedroom, 2 bath - $199,900

24255 LARKWOOD LN - 2 bedroom, 1 bath - $312,000

25583 MONT POINTE - 2 bedroom, 2 bath - $213,500

23216 ORANGE AVE - 1 bedroom, 1 bath - $104,000

289 CHAUMONT CIR - 2 bedroom, 2 bath - $245,900

These are bank owned REO homes after foreclosure, which sold for much higher prices between 2004 to 2007.

Look for the Fannie Mae special financing opportunities on its REO homes at HomePath.com.

Fannie Mae guidelines on its REO homes ~ 97% loan with three percent down payment for owner occupied financing with no mortgage insurance.

Fannie also offers SPECIAL FINANCING FOR INVESTORS who want to buy its REO homes.

FHA guidelines ~ Down payment of 3.5 percent plus some part of loan amount to be paid upfront for mortgage insurance premium. And in addition to monthly payment (PITI), borrower would be charged .55% of the loan amount every year for ongoing mortgage insurance.

Search for Fannie Mae REO homes for sale here.

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If you want information about Orange County homes and properties, please contact us. Thank you.

Harrison K. Long, Explore Group Properties, Coldwell Banker Previews, Irvine, CA.

www.BuyersExploreHomes.com ~ www.ExploreTheOC.com

Ok, I will start out with full disclosure. I am frustrated to no ends with Ocwen, I am working with for a client on a short sale. Unfortunatly, the lender decided to go to Auction/Sale on this short sale with 1 good offer in hand and 3 strong ones behind it. Makes no sense to me, much less my client!

I get sometimes that hard decisions need to be made. But what I don't get is when stupid (yes, I said stupid) decisions are made due to a lack of interest or that it can't be fit into a process. Maybe that is because we are calling India to get answers these days from Lenders. Sorry, side note, but don't you think some unemployed americans would be willing to work a graveyard shift and a homeowner would feel more comfortable talking with someone who had a vested interest in getting their issues resolved.

I am sure their are millions of stories based on the frustration that we as a community are feeling with lenders. I ask the question today, why are we putting up with it. I am amazed and shocked at the service we receive. We understand the questions to ask, just think what homeowners get when they are trying to get answers.

We as Realtors are the backbone and the driving force behind success with these distressed situations! But do you think lenders feel that way? When was the last time a lender called you to give you an update on a short sale? How much paperwork have you resubmitted and resubmitted, due to their inability to keep a file together. How many times have you spoken to a customer service person that is rude, trained only in providing yes and no answers. How many times have they countered a buyer or buyers to get the best offer, How many buyers have walked away due to delays, no responses, etc.

Do you see anyone going out of their way to resolve these issues? I do and it is us Realtors! Unfortunatly, I don't see much progress being made with Lenders to look at us as Partners. Maybe we should stop handling short sales, let the lenders handle the marketing, showings, staging, cleaning, crying, the list goes on and on.

My goal is not to put a further drag on the emotions of Homeowners or Realtors going through the hurdles of getting these transactions closed. Personally, I am not sure I have the stomach for it. I would like to see companies, associations take a more proactive approach with Lenders to develop win/win solutions that help Homeowners and yes, Realtors. How many of us would like to be able to count on a commission check when dealing with a short sale. Better yet, how many of us have counted on a commission check, only to see it cut or gone as the deals fall through?

Looking forward to your shared thoughts!

Kelly Turbeville is one of South Orange County premier Real Estate Advisors focusing in the Saddleback Valley and the communities of Lake Forest, Portola Hills, and Foothill Ranch. Whether she's helping a first time buyer accomplish the goal of homeownership, or coaching a homeowner on venturing into real estate investments, Kelly is committed to making it happen! For Kelly, it has never been just about selling you a house! Her success comes from developing a business that is a trusted place to turn to when you need anything Real Estate!

It's Possible!

The above information is provided as an opinion and is deemed reliable but not guaranteed.

The numbers are in, and the real estate market in Lake Forest, California is definitely more active this year than last year when only 28 properties were sold. Sales more than doubled with 69 closed sales in Lake Forest for the month of March 2009. The prices ranged from a low of $122,000 for a one-bedroom condo, up to $711,000 for a 3 bedroom lake front home.

The average price (add up all the sold prices, and divide by the 69 properties that sold) was $339,168, or $231 per square foot. This was down almost 20% from the average price of $412,000 and $276 per square foot in March 2008. The house pictured below is the closest to the average, but really closed at $325,000 after being reduced from an original list of $379,000.

The median price of the closed sales was $370,000, at $323.14/square foot! (To find the median, list all properties in order of sale price, and find the middle value, which was the #35 property.) That property was a bank-owned home and was listed for $325,500 and sold in 7 days! Note to bargain hunters - just because it is bank-owned, doesn't mean that other people might not want to bid the price up!

Search all 11,500+ homes in Orange County (some aren't even distressed!)

Thanks for visiting!

RE/MAX Homes & Estates

Pre-Foreclosure Division

9241 Irvine Boulevard, Suite 150, Irvine, California 92618

(714) 588 -7676 ∙ www.ReMaxAnn.com

If you are in a situation where:

•You lost your job

•Your Medical Expenses are too high

•Just went through/going through a divorce

•You are behind on your payments

•You have no equity

•You can't afford the cost of selling your home

•Your income has been reduced

•You are in foreclosure

WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!!

WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.

Benefits of a Short Sale:

•Avoid Foreclosure

•Avoid Bankruptcy

•Reduced damage to your credit

•Postpone your foreclosure sale date

•A short sale will stay on your credit approx 3 years

•BE FREE of financial and emotional burdens!

We are licensed Realtors that specializes in avoiding foreclosure. We will NOT buy your home, but will assist you in selling your home quickly. The lender will cover all closing costs including Realtor commissions. We can make selling your home MUCH EASIER FOR YOU and lift much of the financial burden off your shoulders-- OUR SERVICES DOES NOT COST YOU ANY MONEY!!

You can sell your property and lift the financial weight off yourself with the help of a experienced short sale Realtor. Re/Max Homes and Estates short sale division has closed over 120 short sales nationwide within the last year. We have a 95% success rate. Do not trust just anyone to handle your short sale. List your home with an experienced Orange County short sale Realtor!!

Regardless of your current situation I am here to assist you, so call me today to help you find a solution! You have options which can enable you avoid foreclosure proceedings and escape the 10 year scar it will leave on your credit, therefore, your future. Stop the inevitable and don't face Foreclosure IF YOU DO NOT HAVE TO! Best of all with a short sale my commission will be paid by the bank, so you won't have any out-of-pocket expense!

www.remaxann.com for more info or give me a call at (714) 588-7676

When you come through Portola Hills, you probably don't think of business. That is part of what makes Portola Hills such a special place to live, there really isn't any commerce. But is there.....

Ask yourself?

• What do your neighbors do for a living?
• How does their success add to the success of your neighborhood?
• Do you have a need that a struggling neighor could help you with?
• Did you know your neighbor has a home based business that may actually help you and your business.
• Need an Attorney, Landscaper, Hair Stylist, Let's not forget Realtor! - bet there are few of those here in Portola Hills that would love your call.

Have you noticed in today's world everyone comes home and drives straight into their garage, no hello's, no hand shakes, no hugs, the goal being in and out of the home with as little interaction as possible. No ill-will intended just gotta get dinner going!

But in today's economy this is the exact opposite of what we all need to do. We need to understand what our community needs and how we can assist in keeping it such a great place to live. This ecomomy is touching eveyone, not just the local store on the corner. It has touched, the Avon Lady, Landscaper, Consultant probably more then most as they are self employed and have little help to turn to.

So next time you think of a need, maybe consider looking out the door or asking a neighbor if they know someone who could help. Better yet, check out our local blog or LocalAdLink.com. Have a business you want to advertise, let us know and we will include a link right here Portola Hills Living and do a write on your business.

Since your are reading this article, by now you know, my passion is Real Estate. The reason I went into real estate is I love the idea of communities and helping homeowners become part of one. Recently, I decided to take that involvement another step and help local business expand their business on line. Should you have a home based business, store front or service business and are a resident of Portola Hills, contact us to see how we can help you expand your business and ultimatly keep local dollars in Portola Hills.