Second annual Orange County Triathlon is being held in Mission Viejo and Triatheletes from across the country are gearing up to participSate on Sunday Sept. 27th.
The event this year is expected to draw close to 1,000 participants, boasts the Best of the U.S. Series Championship. It features athletes who have qualified at least in one race in each of the nation's 50 states.
The triathlon begins at 7 a.m. with a 1-mile swim in Lake Mission Viejo, followed by a 25-mile bike ride that takes athletes into Santiago Canyon through Olympiad, Marguerite Parkway and El Toro Road. After returning to Aliso Creek Bike Trail, near the Saddleback Community Church, the athletes will run a 10K that will bring them back to Lake Mission Viejo.
During the last 1/4 mile, participants will cross the 1984 Olympic Bike finish line before entering the Lake area. At the end of the event, the top female and male athlete will be crowned champion of the BOUS Series
Registration is still available for the event that benefits the Mission Viejo Nadadores, Saddleback YMCA, local youth groups and the MS Society. Mission Viejo residents will receive $20 off the entry fee. Applications are available online at www.octri.com. To register, print out the paper application and mail it to the address listed on the application with a check for $150.
Spectators can enjoy the race around the Lake and on Olympiad and Marguerite. Parking is available at Florence Joyner Olympiad Park at 22760 Olympiad Road. Come out and enjoy the event, it looks to be a fabulous weekend.
For detailed information, visit www.octri.com.
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
8/17//09- - 181 detached houses. 9/21/09- - 239 detached houses.
Short Sale Active
8/17/09- -49 out of 181 9/21/09- - 82 out of 239
REO Active
8/17/09-5 out of 181 9/23/09- - 11 out of 239
In Default Active properties
8/17/09- - 3 out of 181 9/21/09- - 2 out of 239
That leaves 144 out of 239 as equity sellers for 9/21/09
Sept. has changed more this month than in the last 5 months in Mission Viejo. We are showing an increase in distressed properties on the market with 93 out of 239. Equity sellers last month were 124 out of 181 and this month we have even less with 144 out of 239. Short sales sellers and REOs are taking a larger percentage of the active market. Sept is one of the slower buying months and inventory is increasing.
As we go into the fall the market Mission Viejo will change some! It always does!!. Equity sellers were at 68% of the market last month 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?
We are down from a peak of 74.1% equity sellers in July!
Let me know how things are going in your market.
Picturesque scenic views of the mountains and lake awaits you at the Mallorca Condominiums in Mission Viejo. Stacked on the hillside along the west bank of Lake Mission Viejo, it gives you the feel and look of a European village. Small quaint shopping center with one of a kind shops and local restaurants are within walking distance. Mediterranean
Year around Resort-like living is within a 24 hr gate guarded community of Mallorca. It has 2 Association Pools/Spas and its very own PRIVATE SANDY BEACH, for residents only, plus picnic area and boat slips! You also get to enjoy all the Mission Viejo Lake privileges including 2 more beaches for swimming with BBQ picnic areas, boating, sailing, fishing, free concerts on the lake, 4th of July Fireworks put on by Mission Viejo right from your patio & more
The Mallorca condos range in size from 1,200 to a little over 1.800 sqft. and are either 1 or 2 stories high. All floors have wrap-around patios with green belts or balconies. Prices are ranging between $369,000 to 649,000. Lowest prices are due to sold bank owned properties. They have a low tax rate with no Mello Roos. Most units include a large 2 car Garage & 2 guest parking spaces.
1031/Tenants-in-Common (TIC) Information
What is a 1031 exchange?
Under section 1031 of the Internal Revenue Code, a real property owner can sell his property and then reinvest the proceeds in ownership of like-kind property and defer the capital gains taxes. To qualify as a like-kind exchange, property exchanges must be done in accordance with the rules set forth in the tax code and in the treasury regulations. The 1031 exchange can offer significant tax advantages to real estate buyers. Often overlooked, a 1031 exchange is considered one of the best-kept secrets in the Internal Revenue Code.
What is Tenants-in-Common (TIC)?
A TIC is a form of real estate asset ownership in which two or more persons have an undivided, fractional interest in the asset, where ownership shares are not required to be equal, and where ownership interests can be inherited. Each co-owner receives an individual deed at closing for his or her undivided percentage interest in the entire property. Through TIC ownership, the average person is able to enjoy ownership in an institutional-type property with a minimum investment. What are the benefits of TIC (Tenants-in-Common) ownership?
The TIC structure has various features that make it attractive to the real estate buyer.
Did you know that you can exchange a 1031 into a TIC type property? You have to have a tax preparer set this up so that it is done with in the laws of 1031 exchange. The other benifit is it is quicker to do than a regular property purchase. This helps you, when you are running out of time and will pay a tax penalty if you don't close with-in the window opportunity allowed of a 1031.
Saturday's Orange County Register News paper has an article written by Jonathan Lanser showing DataQuick's homebuying report that 2,985 houses were bought in the last month. It also means this has been continuing for the 14 MONTHS. Each and every month we are selling more houses!
We have an increase of 6.6 percent vs. one year ago in activity. Looking back to 1997 thru 2006, monthly sales were averaging only 4.304 per month.
August is our 14th month in Orange County with an upturn in sales. Previous to the increases, we had 33 consecutive months that failed to beat the year before sales.
We are still 35 percent under where we were in 2007 with the median price was at its highest $645,000. We are 14 percent above the cyclical low that we hit in January 2009. This brings our median price to $420,000 over all.
What will the articles look like next year if we continue to have these increases?
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Serving Mission Viejo, Lake Forest, Laguna Hills and surrounding community for more than 35 years. I specialize in first time buyers, families and retirees.
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