We have a lot of first time homebuyers who are excited about our current market. They are anxious to buy their first home and also dream of buying investment property while prices and interest rates are so low. The problem is coming up with all the money. Investment loans require equity in your principal residence, a higher down payment and higher interest rates. Ouch! One great strategy is to consider buying a 2 to 4 unit property. Live in one unit and rent out the others. This should qualify you for a owner occupied loan on the entire property - allowing you to get into a personal residence and investment property at the same time for less money! Here are the quick benefits to buying an "Investment Personal Residence": Lower down paymen Lower interest rate Easier to qualify (compared ... 01/23/2009

California State Senate Bill 1137 Fails to Reduce Foreclosures Back in July of 2008... the Terminator signed a bill that imposed new requirements on lenders before they can foreclose on the property. Of course "they" had good intentions but... the numbers are out and it is mind boggling. November Notice of Defaults: 21,557 December Notice of Defaults: 42,421 **DOUBLED IN ONE MONTH!!!** Visit Foreclosure Radar Report Notice of Trustee Sale (when it get's auctioned) has been flat BUT after 90 days the lenders can file the NTS and this will explode. 437,955 Notice of Default filled in 2008, an increase of 56% over the 279,821 Notices of Default filed in 2007. Is it going to double again in 2009? Scary... 01/17/2009

January 5, 2009 Market Update Orange, California When looking at the housing market, it's important to isolate the cities, zip codes or neighborhoods which matter most to you. In this report, we have captured current supply, demand and closed sales exclusively in Orange, California. Demand is the number of properties placed in escrow in the last 30 days. Current Snapshot - Orange: 1.       Overall Market = Equilibrium Market There are 449 properties on the market in Orange, 50% of which are "distressed" (meaning bank owned or in foreclosure). 75 properties went into escrow in the last 30 days, which gives us a 6.0 month supply of inventory (449 divided by 75). 6 months is considered an equilibrium market, favoring both buyers and sellers. 2.       Bank Owned Foreclosures = Deep Seller's... 01/05/2009

Give your Christmas Tree a second-life, recycle that tree! That's right the tree you've enjoyed for the holidays can provided added value by re-cycling that tree. Did you know that in California over 40,000 tons of trees are disposed of annually. To recycle in Brea, here's the scoop. Pick-up for holiday trees begins December 29 to January 9, 2009. Trees 6 feet and larger must be cut in half. All decorations, lights ornaments, etc (yes remove the stand too) must be removed from tree. Place outside with your nomal trash for pick up in the brown trash can on collection day. Remember flocked-trees are not recyclable. Free Dirt? Free Compost ~ March 7this the day for FREE compost for Brea residents. For the free compost just head down to the Brea Community Center at 695 E. Madison Way (locat... 12/28/2008

The list below contains all foreclosures / reo properties / bank owned in Orange, CA as of December 22, 2008. Looking to buy in Orange??? Call NIC PETROSSI with Prudential Real Estate to schedule appointment to go see any of these properties.           (714) 272-3646 CELL Email:  Npetrossi@yahoo.com       Get to know more about me by visiting my website ----> Click Here      My website also contains city info for North Orange County cities and school info. Mon, Dec 22, 2008 06:26 PM RES MLS # Status P V H T Q Type A/D Address City Area Zip TGNO Trct/M Bd B t/f Sty Gar SqFt Yr Blt Price DOM   1  MRM-K08158566  A   9     H  T  Q  CONDO  A 18911 E BERRYTREE Ln   ORG   92869  800D3  OTHR/  3  3/1  2  2 D  1,159  1973  $298,500    *   2  MRM-K08154347  A   8     H  T  Q  CONDO  A 736 N SIAVO... 12/22/2008

A Tucked Away Beauty In Santiago Hills $575,000 Location:220 Firenza WayOrange, CA 92869 Map and Directions Single Family Home 3 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 1600 sqft Description Welcome to your new home located in beautiful Santiago Hills where you enter through the custom landscape and tranquil fountain. This home boast over 1,600sqft of living space which includes, vaulted ceilings, upgraded tile, custom entertainment center, granite counter tops in the kitchen w/ center island, custom crown molding & base boards, surround sound, cozy fireplace, recessed lighting, and much more. You can enjoy a walk or ride through the trails of Peters Canyon Regional Park. If you like to shop, the Tustin & Irvine marketplace are right down the street. Not to mention easy acces... 10/14/2008

  That is the mantra for home ownership in the fall of 2008.   The recently economic downturn has simply restricted borrowing. A prudent buyer will confirm that their loan program is still available before making an offer.   My suggestion is that you have your loan officer take a proactive measure and have the file fully approved before you submit any offer to purchase. In so doing it will help negotiations and at times beat out other offers that are on the table. 10/06/2008

Loss mitigation is an intervention program designed to help homeowners save their homes from foreclosure, through third-party negotiations with the lender. Loss mitigation is often the better choice for homeowners that are trying to save their homes from foreclosure 08/18/2008

220 S Firenza Way, Orange, CA Price: 575,000 (subject to change) 3 bedroom, 2.5 bathrooms, 1600 sqft Property Description: Welcome to your new home located in beautiful Santiago Hills where you enter through the custom landscape and tranquil fountain. This home boast over 1,600sqft of living space which includes, vaulted ceilings, upgraded tile, custom entertainment center, granite counter tops in the kitchen w/ center island, custom crown molding & base boards, surround sound, cozy fireplace, recessed lighting, and much more. You can enjoy a walk or ride through the trails of Peters Canyon Regional Park. If you like to shop, the Tustin & Irvine marketplace are right down the street. Not to mention easy access to the toll road and freeway. This light, bright, and open floor plan makes y... 07/16/2008

When mentioning where you live have you ever been greeted with an enthusiastic head shake accompanied by a blank face?   I have the good fortune to live in Santiago Hills. "Huh?"   Most people have no idea where we are.  Santiago Hills is in the hills of Orange on the border of North Tustin, Tustin Ranch, and Anaheim Hills.  You may ask, "why not just say you live in Orange?"  Although Orange is a fantastic city, rich in history, and ethnically diverse, Santiago Hills has a more rural identity than the City of Orange.  We are surrounded by Irvine Park, Peter's Canyon, Irvine Lake, and Santiago Canyon, and the equestrian community of Orange Park Acres.  Unfortunately, our anonymity has frequently been our downfall when it comes to selling our homes.  Most home buyers don't know about our... 07/02/2008

I decided to go down to Old Towne Orange the other evening, If anyone gets a chance to go, I encourage you to do so.  It was perfect weather in the early evening, walking around the plaza, looking in the shops, we stopped for dinner.  There are so many great restaurants to choose from, then we went and sat at the outdoor patio at the coffee house.  It was a great evening, you should try it some day.  Who else likes Old Towne Orange?  Let me know 06/11/2008

10 Reasons to Buy to a Home •1.    This is a buyers market •2.    You get more for your money •3.    You have access to financial assistance •4.    Interest rates are at a 40 year low •5.    Tax benefits that you simply don't having renting •6.    Inventory! •7.    Equity that builds your future financial security •8.    Many properties are energy efficient, and that equates to more savings each month •9.    Amenities that are not often available when renting •10.  Room, space to grow you family This is the time to make your dream of homeownership a reality   06/06/2008

It's not too late to support us in our walk on Sunday, May 18th at Orange Lutharan High School in Orange, CA. The founder of With Hope wanted to share with you an email that she eceived from a teen in response to the work With Hope, the Amber Craig Memorial Foundation is doing: Hello.  I am a junior at El Dorado High School. Ms. Craig had visited my church my freshman year, Yorba Linda Friends. During my sophomore year i had always thought bout suicide and because i heard Ambers's story it made me think. I did try once and have gotten the help needed. I would just like to thank everyone working with this foundation to help suicide prevention. I think what you people do really changes lifes. I know it had changed my life and made me think twice. So thank all of you who put all your time... 05/15/2008

A Walk Wiht Hope! A fundraiser walk at Orange Lutheran High School in Orange CA,  on Sunday, May 18th, 2008 for With Hope - The Amber Craig Memorial Foundation.   With Hope is a nonprofit organization dedicated to suicide prevention through improving mental health support services and education in our schools and throughout our community. With Hope Foundation is committed to supporting our local schools' efforts in suicide prevention through education. We have pledged to make available, at no cost to the schools, speakers and materials to effectively educate our community's youth. If you would like to show your support with a small donation, it would be much appreciated!   Even a little bit helps! If not, that is OK too, just think of us on Sunday! If you would like to donate, please ma... 05/12/2008

YES, you read that correctly, Placentia home sales for single-family homes increased 5 times for the month of March as compared to February and more than double January's sales.The real estate market report for sales/market activity for March 2008: Single family sales activity in March ~ Asking prices $264,000 to $1,790,000. (*Note only 3 out of 162 were over 1 million.)162 single family homes were for sale during March, down about 8% from the prior 3 months. 25 pending sales entered escrow for the month, up 5 times from in February and more than double in Jan. 9 homes closed escrow in March, compared to 11 for Jan./Feb. 26 homes were removed from the market, listings either expired or withdrawn/cancelled in March, to slightly fewer than the past 2 months. Condominium sales activity for... 04/17/2008

The Orange County United States Green Building Council Chapter has been growing exponentially over the last year and is expected to explode onto the scene as energy costs rise, product and service costs drop and the main stream understanding that "green" is often times practical sense. The majority of sustainable building concepts are not new. They weren't invented buy a mad scientist and many are not a result of any sort of scientific breakthrough. Sustainable building concepts have been developed over the ages by man and almost completely forgotten over the last 70 years. As oil and other cheap energy came onto the scene business found it more profitable to push fancy mechanical systems upon you. As a result, home building companies have produced homes that may not even be habitable ... 01/03/2008

I recently emailed Mr. Lancer of the OC Register (December 16th), being fed up with all of the negative articles he has been writing regarding the current Real Estate market, the foreclosures and the lending market. Owning a real estate office and being licensed since 1989, I thought he would need to hear from a real estate professional that has been through this type of market before. I did not expect a response from him. To this point my expectations have been true. I am enclosing a copy of this email for your everyone's information: Mr. Lancer:I have no doubt that you know your real estate business, but as a successful RealEstate professional for the last 18 years and Broker/Owner of a Real Estate officehere in Orange County with 20 something agents, I must say you focus all your ene... 12/24/2007

To experience the City of Orange is like in many ways taking a step back in time.  Orange is one of the oldest cities in the County of Orange. Like so many other areas, the modern day city  began as a farming community. Growing a variety of crops and eventually settling in with Oranges. With the growth in the late 1800's came progress in the form of incorporation of the city. The Southern Pacific Railroad built a station to be followed by a second, the Santa Fe Railroad Station about seven years later. Packing houses were build to transport the produce. Growth continues with two newspapers, a library, gas street lights and the circular park which formed the center of town. The "Old Towne circle as we know it, remains today.During the early years of the 1930's the farm community experien... 11/14/2007

For Sale by OwnerIf you ask anyone who has ever tried to sell their home themselves, they'll tell you that from the moment the "For Sale by Owner" sign goes up, the phone begins to ring. Unfortunately, many of those calls will not be from prospective buyers but rather from real estate agents looking to obtain your listing. Obviously the idea of not having to pay a commission to a real estate agent is attractive to any homeseller. But because of all the issues involved in the process, selling a home on one's own can be as challenging as many homesellers will attest to. The key is to be properly prepared. If you are not, your home could remain on the market longer than you expect because you are not attracting and getting offers from qualified buyers. This can be the point where many home... 10/31/2007

Remember not so long ago, when you could make your fortune in real estate? It was nothing then to buy a home, wait a short while, and then sell it at a tidy profit. And then do it all over again.Well, as you know, times have changed. Since markets are constantly fluctuating, real estate markets are unpredictable because of changing prices and interest rates. Therefore, it is now more critical than ever to learn what you need to know to avoid costly seller mistakes in order to sell your home fast and for the most amount of money.The 7 Deadly Mistakes Most Homesellers Make:1. Failing to analyze why they are selling.2. Not preparing their home for the buyer's eye.3. Pricing their homes incorrectly.4. Selling too hard during showings.5. Signing a long-term listing agreement without a writte... 10/24/2007