Mission Viejo, CA

Earlier this week, employees of the newest Microsoft Store, located in Mission Viejo, CA were video taped performing a group "line dance" in an effort to show folks that it's really fun to come into their new store. I'm not sure that dancing the Electric Slide will help sell their software but from the looks of the patrons, many seems a bit bewildered.

As of today, Nov 20, 2009, the video has just over 500,000 views so it has gone viral, but I'm not sure the message it protrays is helping Microsoft.

What do you think?

Just did a check on how the market in my area is doing. I work out of Mission Viejo, CA Population is over 95,000

Total Active on the market

10/18/09- - 238 all homes. 11/19/09- - 235 all homes.

Short Sale Active

10/18/09- -76 out of 238 11/19/09- - 78 out of 235

REO Active

10/18/09-8 out of 238 11/19/09/- - 7 out of 235

In Default Active properties

10/18/09- - 2 out of 238 11/19/09- - 2 out of 235

In Probate this month are 2 properties

That leaves 145 out of 235 as equity sellers for 11/19/09

November is looking about the same as October did. The changes that have happened in Mission Viejo are for the better. We are showing an increase in distressed properties on the market with 87 out of 235. Equity sellers last month were 149 out of 238 and this month we have almost the same, with 145 out of 235. Short sales sellers and REOs are taking a larger percentage of the active market. November is one of the slower buying months and inventory has remained the same.

As we go into the holiday season the market Mission Viejo will not change! Equity sellers were at the high point 68% of the market in August and are now down to 61%. Are we seeing the "shadow inventory" starting to come on the market or is the buying season just slowing down? My pick is the slow market!

We are down from a peak of 74.1% equity sellers in July!

We have 183 properties in backup and 100 that are pending.

Let me know how things are going in your market.

Here is the update on the Mission Viejo you will not get the dog park at the Oso Viejo location but a dog park will be built. Monday the Mission Viejo City Council voted to take the funds that were allocated for a dog park at Oso Viejo and move the funds ($250,000) to a new location to be determined. Trish Kelley wanted to change her vote.

The city staff was assigned to look at other locations. The dog park proponents and the residents are coming to a peaceful resolution. So the update on Mission Viejo dog park is that we start over.

Home prices in Orange County get better and better. Dricen by the continued upward climb in the entry level or lower prce homes Orange County gets better. MDA Data Quick reported that the sales price increased but the actural number of sales went down.

The median price of a home here in Orange County is now $436,500 up 3.9 percent from a year ago and up a over 18 percent since January. The increase of home median price has been going on for the last 8 of 9 months. That is great news and of some significance and it shows that the market is getting better.

It was 2.75 years ago that the market changed and the market began to drop in value and in time on the market. We shiftd into a buyers market although it months for most to accept the change. It was 33 straight months of falling home prices. Our previous down turn was 61/2 years long (April of 1989 to March of 1996) and we are a lot shorter than that occurance. Prices have dropped from October 2005 to January of 2009 42.6 percent in Orange County. Now that is a huge price drop. Now they get better every day.

It has turned around.

Successful Mission Viejo Short Sale!!!

The seller purchased the home 3 years ago for $ 488,000 and never refinanced.

The Mortgage was behind 2 months when the sellers listed the home with Ann Urias.

They had two mortgages

1st $ 412,000 2nd $76,000

We received an offer for $337,000 FHA LOAN

The 1st lender accepted $305,000

2nd lender accepted $ 4,000

The bank paid all past due taxes, hoa fees, escrow, title, and commissions.

From the day we received the offer the short sale process took 6 weeks for short sale approval and then 30 days to close escrow.

These sellers received a full settlement.

Interested in short selling your home contact Ann Urias with ReMax Homes and Estates Pre-Foreclosure division.

www.orangecountyshortsalerealtor.com for more info.

List with an experienced Orange County Short Sale Realtor.

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