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Aaron Kelly - North Orange County Realtor

Uncle Sam steps in! Is the housing crisis over?

The government has pledged to take over risky loans from investment banks. Will this end the housing crisis? The remaining banks might see this as an opportunity and loosen the standards once again to make it easier to get a loan.

From what I've seen in the California market, I could offer an optimistic prediction that the housing crisis will be over by June of 2009. Why? There are numerous people renting for more than it would cost to get a 97% loan at our current interest rates. I just sold a 2 bedroom/2 bath 950 SF condo for $130,000 (which is less than half of what similar condos were selling for in that complex a year ago). With 3% down plus PMI, property tax and HOA dues, the monthly cost is about $1200 a month. That's easily a couple hundred dollars less than many families are paying for a two bedroom apartment in the same neighborhood right now. Don't you believe that if given a chance these people would be willing to move out of their expensive apartments and start eating up the inventory? I've met many potential buyers that are just under the threshold to qualify for a loan. We have houses here in Orange County that are selling for less than $300,000 for the first time since the housing boom. If the government bailout can stop the bleeding, we may see a run on these lower end condos and houses in spring 2009.

For more real estate info: www.homerealtymanual.com

Open House this Sunday September 6 from 12-4 in Brea. Foreclosure!

Come visit my open house this Sunday September 6 from 12-4.

468 Redtail Dr., Brea, CA 92823.

Bank Owned Foreclosure 3 bedroom house in Brea for just $459,900!

3 bedroom, 2 bath, 1077 SF, 4500 lot. Built in 2002!

This is a great opportunity to own a bank owned foreclosure in Brea, Orange County.

Another great listing from REMAX of North Orange County!

Contact Aaron Kelly for more info: 714-280-2080 or www.homerealtymanual.com

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Spare the air - should be lots of fun this Saturday in downtown Fullerton

Spare the air - should be lots of fun this Saturday in downtown Fullerton.

I'm always looking for a good cause, especially if it has something to do with the environment. This is not just a fresh air campaign, but should be a fun time to dance to some quality music and just enjoy the exciting atmosphere of downtown Fullerton.

Cristal Drake, a fellow Remax agent, turned me on to this event and I believe there are several people from the Remax of North Orange County who are going.

http://www.sparetheairfestival.com/

www.homerealtymanual.com

Finding a great deal in a changing market. Buying Foreclosures.

I recently had a first time investor call me because she saw my name and number on the internet. I still haven't been able to figure out which key words she was using because she was just browsing the net thinking about buying a bank owned foreclosure property. She knew very little about the process because she's not originally from the US. We found the perfect two bedroom two bath condo in North Orange County (in the Anaheim, Fullerton, Placentia area) and we negotiated a sales price of $130,000. I just got back from the appraisal and home inspection today. Both the appraiser and the inspector were shocked to hear about such a great deal on a property that had very little need for any repairs. My client said that she's feeling more and more comfortable with this deal everyday and she's looking forward to buying even more properties in the future.

For real estate info: www.homerealtymanual.com

Excellent Caterers for North Orange County and Anaheim area

If you are interested in having any event catered, look no further. La Casa Garcia catered my wedding last weekend and they did a fantastic job. Talk to Frank Jr. and make sure that he handles all of your catering directly as he provides very professional service. They also have two restaurant locations in Anaheim.

La Casa Garcia also contributes to the Anaheim community by feeding 15,000 people every year for Thanksgiving dinner.

Here's their website: http://lacasagarcia.com/

For real estate info: www.homerealtymanual.com