Recent trend at Orange County Ca real estate is that time from default to foreclosure (average number of days) has been significantly reduced since last year.
California is a non-judicial foreclosure state. Time to foreclose is the average number of days between the filing of the Notice of Default and the final sale at trustee auction after foreclosure during any specified month.
During January last year 2011, it took average of 338 days for lender/lienholders to complete foreclosures at Orange County - that time frame was reduced to 284 days last month January 2012.
At Irvine CA real estate the time frame from default to foreclosure was 416 days last year during January 2011 - that average time was reduced to 223 days this year during January 2012.
If you are interested to see a list of properties in default at any Orange County CA city and now scheduled for trusteee sale auctions after foreclosure, contact us here and let us know your name, email address, and city of your interest for this information.
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Source of information is ForeClosureRadar.com.
Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at the California Association of REALTORs® – elected director at Orange County Association of REALTORs - attorney member of the California State Bar Association #69137
Professional REALTOR® agent representation and help for Orange County CA property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.
California New Smokefree Housing Law for 2012
The California Smokefree Housing Law (SB 332) went into effect on January 1, 2012 - added Section 1947.5 to the California Civil Code - and gives multifamily property owners and managers the power to prohibit smoking in rental units.
This authroizes a landlord of a residential dwelling to prohibit the smoking of tobacco products on the property, in a dwelling unit, in another interior or exterior area, or on the premises on which the dwelling unit is located.
This new law makes requirements on notices and leases that a landlord who prohibits smoking pursuant to this authority is subject to federal, state, and local requirements governing changes to the terms of a lease or rental agreement for tenants.
California owner/landlords had prior legal authority to prohibit smoking - this new law gives them platform for new programs to enforce smoking bans in multifamily housing communities.
See Public Health Law and Policy (PHLP) website - with information for property owners and managers who are considering adoption of smokefree policies.
City of Pasadena is even more strict with its smokefree housing law for multi-family units 2012.
The City of Pasadena is leading new California trend and has banned smoking in all multi-family units including condominiums and townhouses, and prohibits smoking in all common areas and inside units. See the Pasadena city ordinance at "Reduction of Drifting Tobacco Smoke in Multi-Unit Housing."
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Source of some information is Davis-Stirling.com newsletter, is for information only and is not the providing of legal services.
Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at the California Association of REALTORs® – elected director atOrange County Association of REALTORs - attorney member of the California State Bar Association #69137
Professional REALTOR® agent representation and help for Orange County CA property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.
Irvine is the economy powerhouse at Orange County CA and has more jobs for employees than any other city of it size (with more than 200,000 people) in Southern California. 
Irvine has 572 homes now listed for resale with average listing price of $953,253.
Realtors and brokers resold 2,201 Irvine homes last year during 2011 - with average sold price of $638,742.
132 Irvine homes were resold last month during January 2012 - with average sold price of $622,470.
Since there are 572 Irvine homes now listed for resale and 132 sold during January, it would theoretically take 2.3 months to sell all homes now listed at this rate. Balanced would be about 4.5 month, so this Irvine market favors the sellers.
Northwood at Irvine homes now listed - click here for active lin.
Northpark at Irvine homes now listed - click here.
Quail Hill at Irvine homes now listed - click here.
Portola Springs at Irvine homes now listed - click here.
Shady Canyon at Irvine homes now listed - click here.
Westpark at Irvine homes now listed - click here
Woodbridge at Irvine homes now listed - click here.
Turtle Rock at Irvine homes now listed - click here.
University Park at Irvine homes now listed - click here
Woodbury at Irvine homes now listed - click here.
Irvine airport area homes now listed - click here.
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Source of some information is CRMLS, does not include FSBOs, trustee auctions sales or new homes, and does include those sold by all brokers and agents.
Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – 949-854-7747 (phone) – ExploreProperties@gmail.com (email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at California Association of REALTORs® – attorney member of the California State Bar Association #69137
Contact us about listing and sale of Newport Beach and Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.
Newport Beach is one of the most sought after cities in Orange County and Southern California for residential living and investment.
Newport Beach is like other areas in Orange County - and has distressed properties in the non-judicial foreclosure process.
159 Newport Beach homes and properties are now scheduled for trustee auctions sales - with sale dates after non-judicial foreclosure at some time during the upcoming 8 weeks.
These and other Newport Beach properties are scheduled for foreclosure trustee auction sales:
2412 Vista Hogar - at Eastbluff
53 Harbor Ridge Drive
115 Old Course Drive - at one Ford Road
301 Evening Star - at Dover Shores
307 33rd Street - at Balboa Peninsula
911 Cliff Drive - at Newport Heights
7 Shoreridge - at Newport Coast
2222 Holiday - at Baycrest
If you want a list of Newport Beach homes scheduled for trustee auction sales and information about property values, contact us - ExploreProperties@gmail.com (email).
See California foreclosure laws information - by ForeclosureRadar.com.
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Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – 949-854-7747 (phone) – ExploreProperties@gmail.com (email) – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at California Association of REALTORs® – attorney member of the California State Bar Association #69137
Contact us about listing and sale of Newport Beach and Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.
Different issues are sometimes overlooked and trip up short sale sellers at Orange County CA real estate.
These issues should be reviewed carefully at the start of the process, so sellers don't get surprised with negative lender response and rejections.
Who Owns the Loan - It's important to determine who owns the notes and deeds of trust (as used in California). If you are dealing with a third party negotiator who works for a lender, you need to confirm name and address of the lender, investor, and separate negotiator. It's also important to find out what authority to negotiate has been granted to the third party negotiator.
Lender's short sale process - Sellers and their agents must find out at the earliest possible time about the specific lender, its negotiator, and its process for considering and approving a short sale.
Buyers Should Make Clean Offers - Lenders and their negotiators like to see clean and easy offers in short sales. Sellers should encourage buyers to clear as many of their contingencies as possible in their offers, so those offers are easy to understand and approve by lender/lienholders.
Incidental fees - Lenders for sellers in short sales don't usually agree to pay much, if any, of the outstanding incidental costs at closing - such as title fees, survey fees, unpaid utility bills, and document delivery fees.
Home and property inspections - Buyers should bite the bullet and get their home inspection completed as soon as possible and not wait until after lender approval of the sale. Buyer hesitation on this can hurt them when inspection eventually turns up something they don’t like. Buyers should get comfortable as soon as possible with the property condition.
Buyer Contingencies - Most of the same buyer contingencies will apply in short sales as in regular equity deals. Buyers will need to make sure they can get their money organized and financing before asking lender for sellers to approve the short sale.
Homeowners association financial condition - About one in four people in California live in communities where there are homeowner association rules and assessments. Some HOAs are in poor financial condition, and short sale sellers need to have this information from the start, including review of financial documents from the HOA, for eventual disclosure to buyers.
Homeowner Association lien claims for unpaid assessments - It's common in short sales in California that the seller is in arrears on HOA dues and assessments. HOAs usually file and record their liens to protect right to recover through sale of the property. Sellers need to find this out early, so it can be presented to the lenders and negotiated.
Contact us to schedule an appointment to discuss the sale of your Orange County CA home and property and the short sale process. ExploreProperties@gmail.com (email) - 949-854-7747 (telephone)
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Harrison K. Long – REALTOR® and broker associate, GRI – Coldwell Banker Residential Brokerage – CA DRE 01410855 – SFR short sale and foreclosure resource certified by the National Association of REALTORs® – now serving as an appointed director at the California Association of REALTORs® – elected director at Orange County Association of REALTORs - attorney member of the California State Bar Association #69137
Please contact us about listing and sale of IRVINE and ORANGE COUNTY CA homes and real estate.
Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.
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