San Clemente, CA

Orange County Home Prices Moved Down In 90 Percent Of The Area

This is a sad state of affairs. It is sad to see that Orange County has suffered with 90 percent of the home have lost value when their prices have moved down. Data Quick compaired 2010 and 2011 calender years and found our median price of $480,000 is down 6 percent. It is even worse news for condo owners with an 8 percent drop.

Only two zip codes had a positive up turn in both price and number of sales in the year 2011 and that was Newport Beach 92662 and Orange 92869.

The numbers are sad that we have lost 34 percent of the value since 2007.

When someone tells you the market is getting better I ask where and how that is happening.

San Clemente Realtor Mark Palson, Area Market Report 2/12/2012

This weeks market report for San Clemente and surrounding areas from San Clemente Realtor shows that Orange County Median Prices for the resale homes were down 5.3 percent, for new homes it is up 16.4 percent and for resale condos down 5.8 percent. The sales volume is down for resale homes 5.7 percent and down 5.7 percent on condos and down 28.1 percent for new homes.

• Mission Viejo Zip Code 92691 sales prices are down 4.7 percent and the sales volume is up 62.1 percent.
• Mission Viejo Zip Code 92692 sales prices are down 7.2 percent and the sales volume is down 25.8 percent.
• Aliso Viejo sales prices are down 18.7 percent and the sales volume is down 19.7 percent.
• Laguna Niguel sales prices are down 0.9 percent and the sales volume is down 3.1 percent.
• Rancho Santa Margarita sales prices are down 14.3 percent and the sales volume is down 5.6 percent.
• San Clemente Zip Code 92672 sales prices are down 19.5 percent and the sales volume is down 25.0 percent.
• San Clemente Zip Code 92673 sales prices are up 9.1 percent and the sales volume is down 22.5 percent.

The last 3 weeks has been a roller coster ride.

San Clemente Realtor Mark Paulson, Area Market Report 1/29/2012

This weeks market report for San Clemente and surrounding areas from Mission Viejo Realtor shows that Orange County Median Prices for the resale homes were down 4.7 percent, for new homes it is up 30.6 percent and for resale condos down 5.5 percent. The sales volume is down for resale homes 3.3 percent and up 1.0 percent on condos and down 27.0 percent for new homes.

• Mission Viejo Zip Code 92691 sales prices are up 11.4 percent and the sales volume is up 36.1 percent.
• Mission Viejo Zip Code 92692 sales prices are up 1.1 percent and the sales volume is up 2.0 percent.
• Aliso Viejo sales prices are down 9.3 percent and the sales volume is up 15.3 percent.
• Laguna Niguel sales prices are down 12.4 percent and the sales volume is down 5.1 percent.
• Rancho Santa Margarita sales prices are down 8.7 percent and the sales volume is down 6.7 percent.
• San Clemente Zip Code 92672 sales prices are down 21.9 percent and the sales volume is down 14.7 percent.
• San Clemente Zip Code 92673 sales prices are down 5.3 percent and the sales volume is down 2.4 percent.

What is Hawaiian Craftsman

What is Hawaiian Craftsman? I know craftsman style is. It is the style just after the victorian era. I have even owned a craftsman style home. You may be asking youself the question also.

Well it is a style that is described for a home in Laguna Beach. The home takes some of the traditional look of a craftsman and increases the height of the ceilings and opens up the home. It has floor to ceiling windows. The home is in Woods Cove on Diamond St.

This beautiful home is on the market at $2.49 mil it is 3200 sf. The home was designed by Greg Able. Harold Noriega listed the property.

If you are looking to purchase a luxury home contact us.

Home Financing is Not Difficult!

One thing that I honestly can say is holding back the housing market is the overwhelming belief that buyers cannot get financing.

The consensus seems to be that only large down payments are required along with very high credit scores. Even then the belief is that the underwriting is so stringent that most buyers don't want to apply for fear of having their loan rejected.

What would really help and could make a difference is for agents to let their clients know that these misnomers could not be any father from the truth. Agents can post information on websites, send information to data bases and even blog to get the word out. The fact is, while lending is not the free-for-all it was five years ago, common sense has come back full swing. Meaning, down payments now are smaller on higher loan amounts than have been in place for years. The government agencies feel the worst of the home price decline is behind us allowing more leniencies. In addition, underwriting documentation requirements have eased because the economy has stabilized and shown signs of improvement so less risk is at stake.

In Orange and Los Angeles Counties, borrowers are able to secure a home loan in the amount of $729,750 with only 3.5% down payment. That equates to buying a home for $756,250 and only needing a down payment of $26,500. The down payment can be a gift from family members as well. The credit score can be as low as 640.

With 10% down payment, a borrower can obtain financing for their home with a maximum loan of $875,500. With 20% down payment the maximum loan is $2,000,000. From there the down payments increase the higher the loan amount requested. Please find attached additional programs that include Foreign National, Pledged Assets and Asset Depletion loans. Yes, there is now financing available other then Fannie Mae, Freddie Mac, FHA and VA.

Please keep in mind it is best for buyers to be preapproved with a lender before shopping for a home so any specific nuances in their case can be worked out prior to entering escrow. However, there really isn't any reason for buyers to be fearful when applying for a home loan. If they can really afford to make the payment, have reasonable credit and can substantiate their income then it is reasonable to expect they will be approved.