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Mission Viejo, CA Real Estate News

By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
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 ...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Here are the statistics for the Orange County, CA and Mission Viejo and other areas.  Did you see the drop in value in Corona Del Mar?  The statistics showing the median home price dropped over 35% as shown in today's paper, The Orange County Register.  Yet, they are hot hot hot.  There sales are up for the last 4 weeks by 260% total of 18 sold homes. For the last 22 days ending August 24, 2009 the statistics have showen that in Orange County, CA 19 of 83 Zip Codes had an increase in there median selling price.  But the overall county showed a drop in of 5.4%.  However there was a definite increase in the number of sales in 52 of the 83 Zip Codes. What do I make of all this.  Sales are up when the price is under $600,000 and the competition is really heavy and not much happening above $...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Lake Mission Viejo will receive 8,000 pounds of rainbow trout, delivered by truck from the Claulk Mound Trout Farm in Southern Nebraska.  This restocking will occure the week prior to season opening.  They keep the lake well stocked and another 4,000 pounds of rainbow trout will be delivered to the Lake November 30, 2009.  On the day of delivery the lake will be closed to allow the trout to spread out and get comfortable with the environment. Then on Saturday November 21, 2009 Lake Mission Viejo Association will kick off its 33rd season of great trout fishing.  The local expert biologist Tom Buckowski is already monitoring the water to have the right conditions and water temperature. Remember if you have any real estate needs contact us at www.markandtim.com
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
On Sunday Sept. 27ththe Orange County International Triathlon will take place in Mission Viejo.  The race will start at 7:00 AM and conclude at 10:30 AM there will be temporary road closures along the route.  The event includes a one mile swim in the Mission Viejo Lake, a bike ride beginning on Marguerite Parkway for 25 miles. It will go north on El Toro Road and out through Santiago Canyon.  The final part of the Triathlon will be a 10k run begining on the Aliso Creek Bike Trail and travel along various trails until it concludes at Lake Mission Viejo. No resident need worrie about being locked in there tract of homes but if the race is in your area at a time you need to travel you may experience some delays.  So check the race website, www.OCTri.comfor more details or call the informat...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
I tell buyers to make a list of everything they have to have and do their best to get them all. Before you house hunting, sit down and make a list of nine things you want in the new place. Then make a list of the nine things you don't want. I call this                              "NINE OF THIS AND NONE OF THAT". You can use this list as a score card to rate each property that you see. The one with the biggest score of "I WANT THIS" wins! This helps avoid confusion and keeps things in perspective when you're comparing dozens of homes. When you are house hunting, keep in mind the difference between "BONES AND SKIN". The BONES are things that cannot be changed such as the location, view, the size of lot, noise in the area, school district, and floor plan. The SKIN represents easily change...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Today Jonathan Lansner a reporter for the The Orange County Register reported that the homes here are selling too low in the second quarter by 10.6%. IHS Global Insight stated that using pure economics of the area and their formula homes sell for 10.6 percent too low. Wow, that means that the properties are a great buy.  This would be the time to purchase a home or an investment in this area.  According to IHS the area has been undervalued for 5 consecutive quarters. We have seen this formula used before and it does not mean that the values will come back quickly.  From 1992 to 2002 or almost 10 years local market were seen as undervalued.  The one thing is that markets have always come back and we have had huge increases after a down turn. According to the article the previous five yea...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Today I had to think how to get the most out of my business.  It is one of those days where planning is what I spent most of the day on.  Where do I need to go?  How to I increase profit and stay in the black?  Where is the market headed?  How do I stay ahead of the curve? Well here is what I decided.  The majority of the foreclosures have not come thru the pipeline.  So how do I get in the way of that business.  I contacted a friend and we will be making some inroads to that market. I need to double my efforts in the part of the business that is moving very quickly, $600,000 and lower in our area. Cut out all spending that is not absolutely necessary.  I purchased a new car that gets better gas milage and that will help to take the stress off the business. Moving quickly to internet in...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
Body Sculpturing classes started 2 weeks ago after having 2 weeks off. The first week is hard but it gets better as we improve. In Casta del Sol we have an instructor that comes in and works us for an hour twice a week. We start each class with aerobics for warm up and then get into using weights for upper body strength. It is up to each of us how much we want to lift. Remember we are ladies from 55 to 90 years of age so weights don't have to be heavy for us to get a workout. Just the fact that we are there doing it, will keep us moving as we age. About half way though the class we switch to working with bands and doing squats to improve our leg muscles. We use stabilizing balls to improve our balance which is essential as we get older. The last 10 minutes of the class is down on mates ...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
Marketing your home: Your home will be shown to both investors and traditional buyers.  During this process, your property may be shown several times a day in the beginning and taper off from there. The goal is to get the highest and best offer in the shortest time possible.  Those viewing or calling to view your home have been instructed not to bother you with questions regarding the short sale so as to not put any additional stress on you.  The First Offer: Once an offer is received on your property, I will schedule an appointment for you to come in and sign the Purchase Agreement (this should only take 5 minutes). Although you do need to sign one offer, your property can attract multiple offers.  All offers will be submitted to the lender(s) for their review, per their request. Somet...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
    A Birdseye View of Lake Mission Viejo Well the end of summer is here and another great day.  It is sunny here in Mission Viejo and slightly breezy the pool is at a perfect temperature and I have been swimming for a couple of hours.  Yes, I is absolutely great to be alive.  I hope you are all enjoying your Labor Day and taking some time off and enjoying your families and friends.  Remember all work and no play make you a dull person.  Any way enjoy and then get back to work tomorrow.  I will be teaching some of the agent at my office so I sure will get in early.    
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
Applications for new loans and refinancing have been on the rise. The experts don't want to declare that the market is recovering in Mission Viejo until we are several months into it. They do the same thing when we have a recession, they tell us after we are well into it. Freddie Mac, a government-backed corporation that provides mortgage capital to lenders, stated a week ago that the interest rate for 30 year fixed rates was averaging at 5.07, down from 5.14 percent a little over 2 weeks ago and 6.35 percent a year ago. This is good news for home buyers and it helps the economy as well.  Freddie Mac chief economist Frank Nothaft said that "Low mortgage rates are helping to keep housing very affordable".    Housing prices are holding in Mission Viejo at this point because loans are hard...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
  A uniquely located community is the Andalusía homes with 5 models and a total of 400 homes built between 1979 and 1983. They are situated within the triangle that uncompress' Lake Mission Viejo.  The perimeter of the triangle measures 3.1 of a mile and is the favorite walking path of 100s of walkers each day. The homes are at the top corner which then gently slops downward to the lake giving many homes in the development wonderful views. The architectural design of these homes gives them a massive appearance for their size, which is 2,300 to 3,800 sqft. These homes have been designed with some of these features or all, including wood floor, French doors, skylights, brick fireplaces, garden windows, very spaces master baths, large wood beams, master bedrooms with second fireplace in a ...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
Taking a look at the Market for Mission Viejo. Somethings haven't changed from last year to this year except the prices. Prices are down 26% over all but there are less active listings. We are getting more "standard listings" then we had last year but the short sales went up and REOs went down. From April to now, last year the total sold was 506 of which 38% were distressed sale. This year we have fewer properties but almost as many distressed sales 39%. The big change is that the REOs are down in the precentage of listings. REOs ran 24% of the market for the same time frame last year as this year yet, we are only at 16% right now.
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The statistics for the last 4 weeks are very interesting: Mission Viejo shows alway as two Zip Codes in the 92691 area the median price dropped 18.8% and there were 51 sales which is down 7.3% in the past 4 weeks.  In the 92692 area of Mission Viejo the median price went down 19.19% while 67 properties were sold which means the sales volume is up 34% in the past 4 weeks. Laguna Niguel's median price was up 1.5% with 94 properties sold and and increase in the sales volume of 23.7% in the past 4 weeks. Aliso Viejo's median price dropped 12.7% and there were 75 sales which means there was an 18.5% drop in the sales volume in the past 4 weeks. Rancho Santa Margarita shows a drop in the median price of 10.1% with 71 homes sold and an increase of 2.9% in sales volume. This indicates that the ...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
LOCATION, LOCATION, In CASTA DEL SOL, MISSION VIEJO, CA! THIS HAS IT ALL, BACKS UP TO PARK FOR PRIVACY AND FANTASTIC VIEW in 55+ Community! SERENE Beautiful turnkey single story, ON ELEVATED LOT! Covered Patio! Open Floor Plan, FRENCH Doors To Atrium, Front Porch and Atrium W/tiled Floors, Home Has Been Well Maintained. Large Living Room W/ Fireplace, Formal Dining room, Neutral Carpet, Plantation Shutters Throughout, Refaced White Kitchen Cabinets W/ Newer Appliances and Corian Counters. Garden Window To Enjoy the Beautiful VIEW, Very Bright & Cheerful, Breakfast Nook In Kitchen, Scraped and Textured Ceilings, Freshly Painted Throughout, Been Deplumed all copper, Convenient Access To Garage, The retirement community of Casta del Sol has enough activities to keep you busy every day of t...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
This is a harsh sign that the market is still going down in Orange County the State Board of Equalization reported on a dramatic down turn in a key variable for municipal tax collection. The total value of a property assessed by counties and the state fell 2.4 percent from the previous year.  The State Board of Equalization has never in its entire existence seen a drop year over year since it started keeping records in 1933.  Orange County is down 1.4 percent while Southern California is down 2.4 percent. This must be put into context of the mortgage melt down.  Too many families have been hurt in this problem.  Are we looking for the ones responsible?  This is the biggest ripoff of citizens and the world in real dollars and we do nothing to make anyone pay.  Very interesting!
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Many neighborhoods are showing more sales, there are more pending sales and the inventory is getting low. Normally these signs would be strong indications that the market is improving.  What we actually are concerned about is the backlog of properties that are in default.  The foreclosures continue at a very strong pace.  This causes us to wonder if we have hit a lull or if we have truly hit the bottom of the market.  If the banks release all there inventory by foreclosing the market will tank.  However, they cannot hold off forever.  It is a difficult line that the banks on in this situation.  Many have not paid mortgages for over 2 years and are still living in their homes.  They have received a notice of default but the banks don't pull the string. Many will not do a short sale on th...
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By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
If Moody's analyst is correct the 40% we have dropped means a great buy to the person who is entering the market.  There are many articles currently showing we are coming off the bottom in pricing.  For first time buyers or investers that would mean a lot of growth. The economist at the Moody's credit rating agencies stated there will not be a return to the high prices for 21 years.  If the economist is correct it will be the first time it has taken that long to return to normal.  In the 1980s when the interest rates were at 19 3/4% many were saying we would take a long time 15 to 20 years to recover.  I purchased a $350,000 home that in 20 years was worth $1.28 million.  I have been through 3 down turns and none did we have good interest rates.  It was much harder to sell a home.  Toda...
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Freddie Mac has let us all know that pricing trends shows that the Pacific states had the strongest spring among the nine slices of the nation tracked.  Pacific home values based on Freddie Mac shows that there was a 3.2% increase in the second quarter of this year.  The national figuer was only up 1.7%.  Freddie Mac also shows that the prices have. Regional prices down 15.7% in the past year the nations biggest drop and off 5.1% for the past 5 years the national low.  Freddie Mac's chief economist Frank Nothaft stated, "The pickup in home price growth rates is consistent with other housing market indicators that show home sales and single-family construction up in the second quarter."  He went on to say that the affordability was at it highest in 40 years.  The spring is generally the ...
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By Valorie Stover, Realtor for Casta del Sol, Mission Viejo,CA, Active Adult Community!
(Casta del Sol Real Estate / HomeSmart Everygreen Realty)
In Casta del Sol in Mission Viejo, CA on Thursday night September 3rd we will be taking a look back. Kip Isbell will be showing Rock n' Roll videos from the old Ed Sullivan show. Who can forget watching Elvis on the old tube TV. As we "Blast from the Past", there will be Salads Sensation, bread, coffee, tea, and ice tea available to enjoy. Members are FREE and guest are only $3.00. It is a BYOB party! September 19 and November 7 are Boogie Nights. Everyone is invited and cost is $1. Light munchies are provided but BYOB to this. Dancing to DJ and visiting with friends makes for an enjoyable time. Halloween Party is next on the agenda, so don't forget to look for the signups sheet. Line Dancing classes are going strong and we are looking for anyone who wants to have fun, to come on down M...
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