Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA

Brea Bank Repos and Brea Foreclosure Sales for February 2009 ~ Brea, Orange County CA

Our community of Brea, CA like other cities in So Cal, is not immune to the downturn in the housing market. Brea's current inventory of existing listings is similar to many other surrounding communities when it comes to distressed sales.

Here's a snap-shot of Brea's bank foreclosures and distressed sales:

• Brea's population is 39,000 residents.
• 94 homes are currently listed in the MLS for sale in Brea.
• 7 Homes are identified in the MLS as being bank repossessions, bank owned homes.
• Prices range from $349,000 to $540,000. (All of these are single-family homes.)
• Another 29 homes are identified in the MLS as a short-sale or pre-foreclosure. (Single family and condos alike.)

So now that you know the numbers, what does that mean for you?If you're a home buyer or seller today, it's important to note that more than one-third of the homes currently available for sale in Brea are distressed sales.

The number of short-sale properties far outweigh the current repo properties. However it's my opinion that because so many of the short-sales not actually sell and close escrow, many of these listings today could be tomorrow's foreclosures.

Preferred Home Brokers,represents a variety of lenders in the Southland with bank repos in Orange, Los Angeles, Riverside and San Bernardino Counties.

If you're looking to buy a bank repo or a distressed sale contact me, at repos@PreferredHomeBrokers.com. You will be connected with one of our foreclosure specialists! Text or call direct, 714 595-1494

We've served home buyers and sellers for more than 30 years under the same family ownership.

Photo at the left is Brea, California in the winter with the snow capped mountains in the background.

If you're interested in learning about Brea check out more on down town Brea in Downtown Brea Living, and see why Brea's The Place to Be. Hungry? view Brea's Down Town Dining.

Check out Brea's New Sports Park.Have a day to spend in the OC? View Brea ~ CA as Featured in Westways Magazine for day tripping around town.

--CA Department of Real Estate License Number 00402040.

**************************************

Here's the scoop on short-sales~

Short Sale ~ A term used when a property is offered for and/or sells for less than the current amount owed on a loan. For example, (a)the case where a home buyer purchased a property for one amount, the value declined and the owner could not sell for the amount owed on the loan. On the other hand,(b) other short sales may result from a property being re-financed at any period of time and the value declined (c) where an owner has tapped the equity in the form of a home equity line of credit, (aka HELOC) and again the decline in values. Again where the sales price would be less than the amount owed to the lender.

• As an aside, many lenders have recently frozen or reduced many homeowners existing credit lines on loan that are also current.

It's important to understand that on a short sale, each lender must approve the terms of a sale. Just because something is listed for sale at a reduced price, does not mean it will actually sell for this amount. A fairly recent tactic has been to offer a property and an unbelievable price in hopes of creating buyer interest and therefore an acceptable offer to the seller and his/her lender.

Oh, one more wrench in the works, you may be negotiating with more than one lender making a decision if there's more than one loan on the property.

It takes real stamina to hang in there for a short sale. I've watched repo sales for over twenty-five years and I urge you to work with someone who understands your local market. Do your homework ahead of time!

Author:Lynda Eisenmann, Broker

Brea's New Sport Park ~ It's A Party & You're Invited!

It's finally here, the opening of Brea's brand new sports park!

Mark your calendar and plan on attending, this coming Saturday, February 14th! It's a great event, the long awaited grand opening of our new Sports Park in the City of Brea at 3333 Birch Street, the corner of Birch and Valencia at the eastern side of Brea.

The site is 26 improved acres and home to baseball and softball fields in addition to batting cages and a pratice field. Like soccer? Check out the facilities here. Or maybe the basketball courts, it's all here. There's even a playground and concession areas, something for everyone.

Events begin Saturday at 9:00 a.m. Help celebrate with your friends and neighbors.

The site was purchased from UNOCAL, a total of 39 acres. Twenty-six to be used for the sports park and the remaining portion for the site of a future school.

Brea's a wonderful community located in Northern Orange County, population is about 39,000 residents.

Brea is a City is well known for excellence in education. The schools have been definite attraction for residents in our community. We often say Brea enjoys some of the bigger city benefits, yet maintains a small town feeling. Many of us who live here feel we have the best of both worlds.

Brea, CA is very well located in Northern Orange County ~ If you lived in Brea, California you would be approximately:

• 30 Miles east of downtown Los Angeles.
• 39 Miles from LAX ~ Los Angeles International Airport,
• 16 Miles from John Wayne Airport in Santa Ana, CA
• 10 Miles from the "Happiest Place on Earth" Disneyland ~ Anaheim, CA.

To learn more about Brea visit our city at All About Brea~ Brea, CA 92821 & 92823 and view Sunset Magazine, Brea The Best of The West and see why Brea's the Place to Be. Brea is national headquarters for several major companies also known for a strong financial community, view Brea Means Business to learn more.

Planning on spending a day or two here? Check out, Brea ~ CA as Featured in Westways Magazine for day tripping around town. If you're want more on Brea real estate contract me, Lynda Eisenmann at Preferred Home Brokers for Real Estate Help, we're one of longest established real estate companies in Orange County under the same ownership.

Contact me Lynda@PreferredHomeBrokers.com, text or direct (714) 595-1494.

CA Department of Real Estate License number 402040.

La Habra, California Home Sales Report for January 2009. La Habra, CA 90631 (not to be confused with La Habra Heights) is located in Northern Orange County,CA.

This marketing report will give you an overview of the real estate marketas compared to prior months in La Habra for both single family homes and condominium sales.

If you're a home buyer or a home seller it's essential you have an understanding of today's real estate market when it comes to market conditions in pricing and inventory.

As a home buyer it's important to begin the loan process in advance of your home search. Once approved you normally have great strength in negotiating prices.

If you're a home seller, pricing your ahead of others is crucial for a timely sale. That's right, pricing it ahead of the competition, including foreclosures/bank owned properties.

Single family homes range in price from $160,000 to $1,675,000, although only 5 were priced over $1,000,000.00

136 homes were for sale, up slightly from last month and compared to 128/153/180/129/149/153/182/216 prior months.

• 36 pending sales in escrow during the month, and compared to prior months of 20/19/34/24/18/25/34/37 pending sales.
• 30 homes closed January, compared to 42/35/2/27/14/25/26 prior months.

**********************

Condominiums range from $108,000 to $425,000.

• 63 condo/town-homes were for sale, as compared to 65/71/72/63/82/83 in prior months.
• 18 pending sales (currently in escrow) in escrow, compared in 7/6/12/23/11/6/5 for prior months.
• 8 closed, compared to 11/10/3/8/10 in prior months.

La Habra is well known for the lively Children's Museum, click here to see more, we've been there many times ourselves with our family If you're interested in learning more about La Habra check out Living in La Habra, and see why La Habra is a city with a heart.

Want to know more about La Habra Real Estate? Contact me Lynda@PreferredHomeBrokers.com, view Preferred Home Brokers and see why we're one of the longest established independent brokerages in Orange County under the same ownership

If you are thinking of selling your Orange County home consider this:

• 84% of all home buyers begin today with the Internet for their home search.
• 80% of Orange County is on-line.
• The average age in Orange County is 36 and I don't know of a "thirty something" person in Orange County who is not on line.
• For the maximum on-line marketing exposure contact me Lynda@PreferredHomeBrokers.com

La Habra is well known for the lively Children's Museum, click here to see more, we've been there many times ourselves with our family If you're interested in learning more about La Habra check out Living in La Habra, and see why La Habra is a city with a heart.

Want to know more about La Habra Real Estate? Contact me Lynda@PreferredHomeBrokers.com, view Preferred Home Brokers and see why we're one of the longest established independent brokerages in Orange County under the same ownership

Brea, CA Residential Real Estate Sales Report ~ Brea Home Sales for January 2009. For the record, the temperature in So Cal today was a beautiful 80 degrees.

Single family sales activity for January, prices range from $199,000 to $1,180,000. All but two were priced under $1,000,000.

• Average asking price was $627,000 for a home with 2,330 square feet.
• 94 re-sale homes currently for sale, almost idential to last month at 95 which was down about 10% from two months ago.
• 20 pending sales, exactly the same as December and compared to 16/36/30/27/27/24 preceding months.
• 13 homes closed in January compared to 20/11/28/30/24/20/14/21/13/8/8 respectively in the past 12 months.
• Average selling price for January was $684,576 for a home with 2,627 square feet.

Condominium sales activity for January ~ Condos/town-homes range from $199,000 to $527,777.

• 12 condo/town-homes were for sale, compared to 9 in November and 13 in December.
• 1 pending sale went into escrow in Jan. compared to 4/3/1/5/7/2/1/1/5/2/2 since the beginning of 2008.
• 3 condos closed escrow for January, compared to 5/3/4/2/5/4/2/2/0/3/3/2/4/6 respectively in preceding months.
• The average selling price for condos in Jan. was $411,966, for a 3 bedroom/3 bath place with 1,586 square feet.

Brea is a City is well known for excellence in education. The schools have been definite attraction for residents in our community. We often say Brea enjoys some of the bigger city benefits, yet maintains a small town feeling. Many of us who live here feel we have the best of both worlds.

Brea, CA is very well located in Northern Orange County ~ If you lived in Brea, California you would be approximately:

• 30 Miles east of downtown Los Angeles.
• 39 Miles from LAX ~ Los Angeles International Airport,
• 16 Miles from John Wayne Airport in Santa Ana, CA
• 10 Miles from the "Happiest Place on Earth" Disneyland ~ Anaheim, CA.

In addition: Photo (upper right) a winter view of Brea, CA looking towards the beautiful San Bernardino snow capped mountains. A great place for local skiing, about 1 1/2 hour drive from Brea. We're also about 1 1/2 drive to desert area communities of Palm Springs and more. And don't forget we're about a 45 minute drive to our spectacular California coastline (photo left) for surfing or a day of winter bike riding.

To learn more about Brea visit our city at All About Brea~ Brea, CA 92821 & 92823 and view Sunset Magazine, Brea The Best of The West and see why Brea's the Place to Be.

Brea is national headquarters for several major companies also known for a strong financial community, view Brea Means Business to learn more.

Planning on spending a day or two here? Check out, Brea ~ CA as Featured in Westways Magazine for day tripping around town. If you're want more on Brea real estate contract me, Lynda Eisenmann at Preferred Home Brokers for Real Estate Help, we're one of longest established real estate companies in Orange County under the same ownership.

Contact me Lynda@PreferredHomeBrokers.com,text or direct (714) 595-1494.

CA Department of Real Estate License number 402040.

La Habra, CA 90631 (not to be confused with La Habra Heights) home sale report for December 2008.

This marketing report will give you an overview of the real estate marketas compared to prior months in La Habra for both single family homes and condominium sales.

If you're a home buyer or a home seller it's essential you have an understanding of today's real estate market when it comes to market conditions in pricing and inventory. As inventory, (homes for sale) continues to decline it's still a matter of supply and demand, therefore prices have continued to decline in each month of 2007.

Our biggest issue at this point is financing. While FHA financing is available at increased loan amounts, conventional financing especially in large loan (we refer to as jumbo) remain difficult. If you're a home buyerit's essential to begin the loan process in advance of your home search. Once approved you normally have great strength in bargaining on prices.

If you're a home seller, pricing your ahead of others is crucial for a timely sale. That's right, pricing it ahead of the competition, including foreclosures/bank owned properties.

Single family homes range in price from $180,000 to $1,675,000, although only 4 were priced over $1,000,000.00 (exactly the same as last two months).

128 homes were for sale, down for the past seven months and compared to 153/180/129/149/153/182/216 prior months.

• 20 pending sales in escrow during the month, and compared to prior months of 19/34/24/18/25/34/37 pending sales.
• 42 homes closed December, up from 30 last month and compared to 35/2/27/14/25/26 prior months.
• $471,000 was the average asking price.

$470,000 was the average closed price (up from $432,000 last month and $389,000 the prior month) for 1,680square feet with an average of 101 days on the market.

**********************

Condominiums range from $115,000 to $399,000.

• 65 condo/town-homes were for sale, as compared to 71/72/63/82/83 in prior months.
• 7 pending sales (currently in escrow) in escrow, compared in 6/12/23/11/6/5 for prior months.
• 11 closed, compared to 10/3/8/10 in prior months.
• $218,300 was the average asking price for a 2 bedroom/2 bath, 1032 square feet with an active days on the market of 92.
• $199,477 was the average closed price (compared to $202,700) for 2 bedroom/2 bath, 1,012 square feet, with an average time of 69 days on the market.

Check out August 2008 report here, or view September 2008 or October 2008, or see my So Cal Home Prices A Foot At A Time.

La Habra is well known for the lively Children's Museum, click here to see more, we've been there many times ourselves with our family If you're interested in learning more about La Habra check out Living in La Habra, and see why La Habra is a city with a heart.

Want to know more about La Habra Real Estate? Contact me Lynda@PreferredHomeBrokers.com, view Preferred Home Brokers and see why we're one of the longest established independent brokerages in Orange County under the same ownership

If you are thinking of selling your Orange County home consider this:

• 84% of all home buyers begin today with the Internet for their home search.
• 80% of Orange County is on-line.
• The average age in Orange County is 36 and I don't know of a "thirty something" person in Orange County who is not on line.
• For the maximum on-line marketing exposure contact me Lynda@PreferredHomeBrokers.com

La Habra is well known for the lively Children's Museum, click here to see more, we've been there many times ourselves with our family If you're interested in learning more about La Habra check out Living in La Habra, and see why La Habra is a city with a heart.

Want to know more about La Habra Real Estate? Contact me Lynda@PreferredHomeBrokers.com, view Preferred Home Brokers and see why we're one of the longest established independent brokerages in Orange County under the same ownership