California's New Required Seller Disclosure for Carbon Monoxide Detector on Sale of Dwelling Units

 

The California Carbon Monoxide Poisoning Prevention Act of 2010 requires a carbon monoxide detector device (battery or hard-wired) to be installed in all dwelling units.  

 

 

Our Golden State legislature and governor added this required seller disclosure to what already is large number of others for sale and transfer of homes and residential dwelling units.

 

Existing single-family units must have this device installed on or before July 1, 2011, and all other existing dwelling units must have the device installed by January 1, 2013.

 

Carbon monoxide detection devices are expected to be available for purchase at Lowe's, Home Depot, Ace Hardware, and other home improvement retailers.  See manufacturer instructions for the number of devices and location of installation. 
  
The California Association of REALTORs form Transfer Disclosure Statement adds a disclosure for these devices, and no separate disclosure form is required. 
 

The transfer disclosure statement form in California now requires the seller to answer a variety of questions as to features of the property. 

 

This new law will change the transfer disclosure statement so that, effective January 1, 2011, the seller must inform whether or not the property contains one or more carbon monoxide detectors.

However, installation of such a carbon monoxide detection device is not a precondition of sale or transfer of the dwelling.  

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

@ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronadelMar.com - www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values"  -  We list and sell homes and properties at Orange County, California, and thanks for contacting us with your ideas and questions.

California's New Required Seller Disclosure for Carbon Monoxide Detector Device on Sale of Dwelling Units

Posted via email from Explore OC Homes

Cyber Online Shopping Monday with Free Shipping Specials November 29, 2010

 

Remember FREE SHIPPING is being offered this year when you shop at many online retailers for holiday gifts and that FREE SHIPPING is this year's enticement for online shoppers.

CYBER SHOPPING DAY ONLINE is MONDAY - November 29, 2010 - Many retailers will be offering free shipping on products this day and some with minimum purchase orders.

Check with www.FreeShipping.org to see information for special shopping days, coupons for specific retailers, and what online merchants are offering free or discount shipping.

• Crate & Barrel stores @ www.crateandbarrel.com

has special coupons for free shipping after online buying.

• Dick's Sporting Goods @ www.dickssportinggoods.com

has special offers with online orders and free shipping

• Ebay @ www.ebay.com 

offers free shipping on many items on Cyber shopping Monday, November 29.

• Macy's Stores @ www.Macys.com

has special online offers with some free shipping

• Nordstrom @ www.Nordstrom.com

has some special coupon offers with free shipping on November 29

• Walmart @ www.Walmart.com

offers free shipping on nearly 60,000 items through December 11

• Bloomingdale's stores @ www.Bloomingdales.com

has some special coupons available for free shipping   

• Amazon @ www.Amazon.com

usually waives shipping charges on purchases over a certain amount to qualify

• Sears stores @ www.Sears.com

has special offers for online shopping and some with free shipping

• Target @ www.Target.com

offers free shipping on lots of items and certain price level purchase orders December 11.  

• Ace Hardware @ www.AceHardware.com  

has special offerings with coupons and some free shipping

• Borders Books @ www.Borders.com 

has offerings with coupons and possible free shipping

If you are unable to find COUPONS at the retailer sites, check www.FreeShipping.org with its access to lots of retailers and coupons for free shipping and discounts.

Another is FREE SHIPPING DAY will be scheduled for Friday, December 17,  when more than 1,000 merchants are expected to participate, and see www.freeshippingday.com for more information.

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Disclaimer: This is for information only, and you must check with each separate online retailer to determine whether it participates and specifics for possible coupons and free shipping specials. 

Harrison K. Long - solutions for properties and business - REALTOR and broker associate, Coldwell Banker Previews and Residential Brokerage - ExploreProperties@gmail.com - 949-854-7747 (telephone) -  CA DRE 01410855 - www.LiveAtOrangeCounty.com

 

Cyber Online Shopping Monday with Free Shipping Specials November 29, 2010

Posted via email from Explore OC Homes

FTC New Rule to Protect Struggling Homeowners from Mortgage Relief Scams

 

U.S. Federal Trade Commission has as part of its mission the protection of consumers from unlawful business practices. 

The FTC has issued its new rule (regulation) to protect distressed homeowners from mortgage relief scams.

This government agency recognized the need to protect struggling homeowners from loan modification and foreclosure rescue scams through its final Mortgage Assistance Relief Services (MARS) rule. 

We don't know yet whether this new regulation will actually help protect struggling homeowners.  

California state law and regulations on foreclosure rescue scammers have already been in place for about a year, which has chased some illegal businesses to close and get out of town.  But scammers seem to find a way to change location or morph their business so as to take advantage of consumers from another angle (like foreclosure rescue scams using web and telephone marketing through offshore offices at the Cayman Islands).

Some homeowners continue to struggle with making their monthly mortgage payments while at the same time foreclosure rescue and loan modification scammers are deceiving them into paying money upfront in exchange for little or no services. 

The FTC intended its new MARS regulation to protect struggling homeowners, prohibit foreclosure rescue and loan modification services (including lawyers) from deceptive practices, preventing them from collecting fees upfront unless the homeowner receives a written loan modification offer from the lender or servicer that they decide to accept. 

It's good that government is at least trying to control the illegal scams, and we hope this regulation works to help protect struggling homeowners. 

_____________________________________________________________________

Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

@ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronadelMar.com - www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values"  -  We list and sell homes and properties at Orange County, California, and thanks for contacting us with your ideas and questions.

Posted via email from Explore OC Homes

A Revocable Living Trust Can Key Your Sound Estate Planning

 

Financial estate planning is about protection of your assets while you are living and for distribution of your property and estate after death.

Having an updated REVOCABLE LIVING TRUST can be important and a most helpful tool for you.

AVOID PROBATE - This is the most important reason to use and have such a REVOCABLE LIVING TRUST for estate planning.  

Such a LIVING TRUST can in most states and locales in the U.S. help you plan and your family to avoid the costly and time consuming court process of PROBATE.

 

PRIVACY OF YOUR FINANCIAL MATTERS  -  When you create this REVOCABLE LIVING TRUST and fund the trust, terms of that are private and between you and your attorney and other people you want to have the information.

 

If court PROBATE proceedings are necessary after death for estate distribution, that would public record, and almost anybody can get their hands on that information.

FUND YOUR REVOCABLE LIVING TRUST -   If you use a LIVING TRUST, you must make sure the trust is funded.  Funding the LIVING TRUST means titling the property into the name of the Trust.  You should be careful with this and consult with your lawyer or financial planner.  Some assets, like retirement accounts, might be treated differently.

NAME YOUR BENEFICIARIES -  You will control naming of your trust beneficiaries, when and how they will get their hands on your assets after death.  Be careful and make sure this re beneficiaries of your trust is up to date.  If you die after your beneficiaries of the trust die, your estate might be subject to probate.  So be careful and check your LIVING TRUST at least once each year and update your beneficiaries each time when they are born, marry, or die.

 

YOU CONTROL YOUR TRUST ASSETS DURING YOUR LIFETIME -  You as creator of the LIVING TRUST will probably name yourself to serve as TRUSTEE, and that way you would control what happens during your lifetime.

And when you name a SUCCESSOR TRUSTEE in your LIVING TRUST, and if your Trust is properly funded, and if beneficiaries are named correctly, your successor trustee's duties would be simple.  After your death, that successor trustee would act according to terms of your TRUST to deliver or pass property according to its provisions, outside of probate, to your named beneficiaries.  That would be private distribution of your estate assets with no court supervision.

Disclaimer:  This article is for information only and is not providing of legal or income tax services.  Estate and financial planning can be complicated.  You should always consult with a qualified estate planning lawyer and/or your income tax professional in your local area.

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

@ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronadelMar.com - www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values"  -  We list and sell homes and properties at Orange County, California, and thanks for contacting us with your ideas and questions. 

Posted via email from Explore OC Homes

California Association of REALTORS(R) Introduced Home Payment Protection Program

 

The California Association of REALTORS® has introduced its CAR.org Home Payment Protection Program and encourages sellers to sign up for this as a benefit to offer for prospective buyers.

This Home Payment Protection Program (HPPP) is similar to the successful C.A.R.H.A.F. Mortgage Protection Program that pays a home buyer's mortgage if he or she is laid off from employment.  

The new program covers both first-time and repeat buyers for 12 months from escrow closing and would provide up to six mortgage payments of up to $1,000 or $1,500, depending on the coverage level the seller chooses.  A seller can choose to pay $200 for six mortgage payments up to $1,000 or $275 for six mortgage payments up to $1,500.

Benefits of this new CAR.org Home Payment Protection Program:

• Help for buyers and sellers 
• Sellers would be able to offer this as an added incentive to buyers
• Help prospective buyers who are uncertain about their employment situation
• Added layer of security on house payments for buyers during first year
• Help sellers move property more quickly

For information about the CAR.org Home Payment Protection Program (HPPP) - click here - check out the web site and contact C.A.R.H.A.F. Mortgage Protection Program representatives.

_________________________________________________________________________

Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

@ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronadelMar.com - www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values"  -  We list and sell homes and properties at Orange County, California, and thanks for contacting us with your ideas and questions. 

Posted via email from Explore OC Homes

HUD's New Web Portal with Housing and Economy Data

  

HUD (U.S. Department of Housing and Urban Development Department) and its new web portal shows local, regional and state areas housing and economic data. 

The HUD Regional Economic and Market Analysis site (click here) has U.S. Census Bureau, Labor Department, HUD data, and information from state and local governments and housing industry sources.

HUD offers information about local economies, housing markets, for public agencies and those in the real estate industry (click here). 

• Interactive map of U.S. divided into major regions
• Economic and housing market data trends
• Regional housing market information with employment and population data
• Economic and housing market trends for 10 U.S. regions
• Housing markets by city and area

See the HUD site portal for Orange County, CA, region (click here), which shows Orange County local market data with charts using census information from 2008.

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

@ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronadelMar.com - www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Orange County, California, and thanks for contacting us with your ideas and questions. 

Posted via email from Explore OC Homes

Refinance Your Home Mortgage Now Before It's Too Late

 

Refinancing your home mortgage loan now at great rates might be a good decision. 

 

Homeowners should start saving money now by locking in rates that are at amazing and at historical lows.   Don't try to be an expert and wait for the bottom of the mortgage rate market. 

The FED recently rolled out its plan to pump $600 billion into credit markets, and some homeowners.

Waiting for possible lower mortgage rates for REFI won't make you happy.  The FED plan didn't work to keep mortgage rates down.  30-year fixed mortgage rates hovered around 4.25%, the lowest level on record since 1951, not expected to go lower and now are on their way up.

Don't wait for a mortgage loan rate bottom that might not happen.

Refinancing would make sense if your current rate is at or over 5.25%, and such REFI can produce monthly savings assuming you can qualify at current loan to value ratios.

Some consider so-called NO-COST REFI, where title, escrow and lender closing charges are either added to the mortgage principal balance or paid for over time with a slightly higher note rate.  This would reduce monthly payments and improve cash flow without paying money now to settle or close the deal.

Others would consider REFI out of current 30-year term loan into a 15-year term, with lower rates, but that's at faster amortization and higher monthly payments.

News is that Mortgage rates were up as of November 18, 2010.  The 30 year fixed-rate mortgage went to 4.39% with 0.9 of a point (or 0.9 percent of the loan balance) paid up front, which is up from last week's record low of 4.17%.  Fifteen-year, fixed-rate mortgage, 3.76% with 0.7 of a point paid up front, which is up from last week record low of 3.57%.    

Contact your mortgage broker now and take the opportunity to refinance a home loan at amazing and excellent rates that won't last forever.

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We don't do home mortgage loans and recommend you contact some smart people for that:

Tim Sibley, First Capital Mortgage, Corona del Mar, CA - Phone - 949-718-1511

Mike Munzing, Munzing Mortgage Group, San Clemente, CA- Phone - 949-689-5626

Jeff Belonger, FHA mortgage expert - phone - 609-440-5133

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  ExploreProperties@gmail.com - CA DRE 01410855

Our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Orange County, California.  Thanks for contacting us with your ideas and questions about home loan mortgage rates, homes and properties at Orange County.

Posted via email from Explore OC Homes

South Orange County Foreclosures Scheduled for Trustee Auction Sales

 

Foreclosure sale information about homes and properties at South Orange County communities can be valuable for buyers and investors.

 

Lenders don't seem to be in a hurry to complete foreclosure on Orange County properties these days, and most of these auctions will be postponed.  However, lenders will get tired of postponing, and some properties will eventually be sold through the trustee sale auction process. 

Aliso Viejo, CA - properties now scheduled trustee auction sales after foreclosure - click here

If you are interested to know detail about any of these auctions, when and where scheduled, minimum bid, check directly with the trustee.

Costa Mesa, CA - properties now scheduled trustee auction sales after foreclosure - click here

If you want to consider making a bid at a trustee auction sale, consult with a lawyer and title insurance company first.

Irvine, CA - properties now scheduled for trustee auctions sales after foreclosure - click here for link

Trustee sale auctions after foreclosure are tricky and very risky for buyers.

Laguna Hills, CA - properties now scheduled for trustee auction sales after foreclosure - click here 

Always hire an experienced REALTOR to help you with the process of bidding and buying a property at foreclosure sale.

Mission Viejo, CA - properties scheduled for trustee auction sales after foreclosure - click here

Newport Beach and Newport Coast also have properties scheduled for trustee sale auctions after foreclosure.

If you want an updated list of trustee auction sales scheduled at any of these or other Orange County communities, please email us at ExploreProperties@gmail.com and state your request, name and email address.  

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Foreclosure Procedure -  California law allows for purchase money loans (mostly not mortgages) on real property and that such loans would be evidenced with promissory notes secured by deeds of trust.  Beneficiaries of property deeds of trust in California designate a trustee for that deed.  If the person owing money on the note fails to make scheduled payments, the beneficiary starts the foreclosure by asking the trustee to file and record a notice of default.  If payments are not then made (usually within 90 days) to cure note terms within the time set forth by contract and law, the trustee can schedule (file and record) the trustee auction sale after foreclosure. 

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Disclaimer:  This is information from public records at the County of Orange, California, is deemed reliable but not verified, is for information only and not the providing of legal, tax, or real estate services.  Bidding for and buying homes and properties at trustee sale auctions in California and Orange County is risky. Buyers must use all cash or equivalent at such auctions, and must always confirm information in advance about any foreclosure property, including physical status of any property and whether occupied prior to any bidding at auctions. Buyers should always consult with a lawyer and title insurance company before considering to make any bid to buy such property at trustee sale auctions. Buyers should work with experienced and qualified REALTOR® for proposed bidding and buying at such auctions.

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855 - ExploreProperties@gmail.com

See our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Orange County, California.  Thanks for contacting us with your ideas and questions about homes scheduled for trustee auction sales after foreclosure at South Orange County.

Posted via email from Explore OC Homes

Home Mortgage Interest Tax Deduction Must be Retained

 

The income tax deduction for home mortgage interest payments should be retained.

Keeping this tax deduction in place is a way that taxpayers, real estate professionals and REALTORs®, can help to protect private property values.  

The Obama administration's recent deficit panel group proposal to eliminate the home mortgage income tax deduction is a dumb idea, which would seriously hurt home ownership, the economy, property values and all public agencies.

Huge U.S. government budget deficits have people worried, and President Obama formed a deficit commission study group to look at that.  This commission unveiled a controversial plan that would eliminate the home mortgage interest tax deduction, reduce Medicare and Social Security payments, cut the Federal workforce, lower U.S. income tax rates. 

But wait.  Eliminating the tax deductibility of home mortgage interest payments would have a huge adverse fiscal impact on the economy at state and local levels.

The National Association of REALTORs® strongly opposes the proposal to eliminate mortgage interest deduction.  "Housing is the engine that drives the economy, and to even mention reducing the tax benefits of homeownership could endanger property values. Home prices, particularly in high cost areas, could decline 15 percent if recommendations to convert the mortgage interest deduction to a tax credit are implemented," said Lawrence Yun of REALTOR®.org.

If U.S. Congress and government eliminate the home mortgage interest tax deduction in 2015 as suggested, this will probably happen:

• Fewer people will qualify to buy homes.
• Many homes will become less affordable.
• Decreased number of people will buy homes.
• Home prices will go down until new market balance price level is reached. 

But how long would that new market take to solidify?  And how low would home prices and values go?

• Prospective home buyers would anticipate this tax change, be even more nervous and stay on the sidelines. 
• Buyer reluctance would hurt the economy, home builders, real estate professionals, REALTORs®, mortgage brokers, construction workers, and property owners. 
• Fewer private sector jobs would be available.
• State and county governments would lose revenue from flat property tax rolls.
• California and some other states would run out of money.
• Funding for public schools, counties, and cities would be reduced further.  
• Local public agencies would run out of money.

Let's communicate with our U.S. government representatives and encourage them to retain the home mortgage income tax deduction, which is essential for stabile private property values.

Home buying and ownership is key for our economy recovery, and the home mortgage interest tax deduction is central to that. 

_________________________________________________________________

Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

Our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Orange County, California.  Thanks for contacting us with your ideas and questions about retaining the home mortgage income tax deduction and property rights and values at Orange County. 

Posted via email from Explore OC Homes

Corona del Mar Most Challenging Place to Sell O.C. Home at Current Market Time Pace

Corona del Mar homes were the most challenging to sell in Orange County last month at current market time pace.

Hottest	Supply	Deals	Mon.	Yr. ago	Price
Portola Hills	21	11	1.9	1.4	$339k
Foothill Ranch	51	21	2.4	1.4	$483k
Buena Park	175	68	2.6	1.3	$385k
Santa Ana	552	213	2.6	1.8	$342k
Ladera Ranch	174	62	2.8	1.1	$691k
Garden Grove	335	118	2.8	1.9	$381k
Lake Forest	192	61	3.1	1.5	$441k
Placentia	150	47	3.2	1.4	$443k
Rancho Santa Marg.	245	74	3.3	1.3	$364k
Mission Viejo	390	117	3.3	1.6	$528k
County	Supply	Deals	Mon.	Yr. ago	Price
All of O.C.	11,151	2,670	4.2	2.4	$895k
Coolest	Supply	Deals	Mon.	Yr. ago	Price
Corona Del Mar	170	16	10.6	10.7	$3.2m
Laguna Beach	329	34	9.7	8.3	$3.3m
Dana Point	281	31	9.1	5.6	$1.5m
Newport Beach	532	60	8.9	8.8	$2.3m
Seal Beach	291	34	8.6	4.2	$373k

Average market time at CDM was 10.6 months to sell all homes on the market.

 

This challenge at Corona del Mar probably had something to do with its average home listing price at $3.2 million.

 

Orange County homes sold the quickest in terms of market time is Portola Hills.

 

Compares supply of homes for sale vs. new purchase deals made during the past month and results in "market time" - time it would take theoretically to sell all for-sale homes at the current buying pace.

 

So the toughest market to sell the Orange County home was Corona Del Mar with market time at 10.6 months.

 

The entire Orange County home sale market had average market time of 4.2 months, and average list price of $895k (week of November 11).

 

This chart shows hottest and coldest home selling markets in O.C. (as of November 11, 2010), comparing supply for sale, new deals made, market time in months vs. one year ago and average listing price.

 

Source: Thanks to OCRegister.com and Steve Thomas, broker at Altera Real Estate, for information and graphic chart. 

________________________________________________

Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

Our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronaDelMar.com - www.IrvineBestValues.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Orange County, California.  Thanks for contacting us about your ideas, plans, questions, and seller and buyer opportunities. 

Posted via email from Explore OC Homes

Laguna Beach Homes Selling During Octobers Past and Present

LAGUNA BEACH,  California, history of homes sold during past Octobers is interesting.

31 Laguna Beach homes were sold during boom times October 2005, with average sold price of $1,846,903.

25 Laguna Beach homes were sold during October 2006, with average sold price of $1,958,920.

10 Laguna Beach homes were sold during start of challenged market in October 2007, with average sold price of $1,637,050.

19 Laguna Beach homes were sold during October 2008, with average sold price of $2,863,342.

30 Laguna Beach homes were sold during October 2009, with average sold price of $1,128,033.

When more homes sold, average sold price went down.

 

28 Laguna Beach homes sold this year during October 2010, with average sold price of $1,708,125.

Average number of homes sold during these Octobers at Laguna Beach has been 23.

This year's 28 sold at Laguna during October 2010 is higher than average for the past 6 years. 

So even though many homes at Laguna Beach now go listed and unsold because of such high asking prices, the number of solds this year compare positively with 5 prior years at sales volume and average price.

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You should visit LAGUNA BEACH at South Orange County, and it continues to offer some of the most spectacular homes and ocean view communities in Southern California.

See Emerald Bay homes listings - click here for free active IDX link.

See Laguna Beach single family homes listed - click here for active link

See South Laguna Beach homes now listed for sale - click here for active link.

See Arch Beach Heights homes now listed - click here for active link.

See Laguna Beach condo homes now listed for sale - click here for active link.

See Temple Hills homes listings - click here for active link.

Source:  This is information from the Southern California Multiple Listing Service, is deemed reliable but not verified.

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

Our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com -  www.LiveCoronaDelMar.com

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Laguna Beach and Orange County, California.  Thanks for contacting us about seller and buyer opportunities and Laguna homes and properties.

Posted via email from Explore OC Homes

Property Tax Value Basis Protection in California on Home Selling and Buying Replacement

 

If you are a homeowner at age 55 years or more in California, it's possible to plan and protect property tax assessed value basis on the sale of a home and buying a replacement.  

California home value basis protection is important where most property taxes are paid at one percent of assessed value.

Lots of people care about assessed value protection that's possibly available on the sale of a home and buying a replacement.

California Proposition 60 was a constitutional amendment approved by the voters in 1986 ~ Section 69.5 of the California Revenue & Taxation Code ~ allowing transfer of an existing Proposition 13 base year value from a former residence to a replacement if certain conditions are met. 

This benefit is only for homeowners who are at least 55-years of age plus and meet requirements and conditions:

• Both the original property (former residence) and its replacement must be located in the same county.  However, there are are different rules for each county in CA according to Proposition 90, and some do not allow transfer of tax basis to county location of replacement property.

As of the date of transfer of the original property, the seller or a spouse living with the seller must be at least 55 years old. 

• A person would be eligible for this possible protection only once during their lifetime.  

The REPLACEMENT dwelling MUST BE OF EQUAL TO OR LESSOR VALUE THAN THE ORIGINAL PROPERTY.  

In general, "equal or lesser value" means that 100 percent of the market value of an original property if a replacement dwelling is purchased before the original property is sold.

     a. 105 percent of the market value of an original property if a replacement dwelling is purchased within one year after the sale of the original property.

     b. 110 percent of the market value of an original property if a replacement dwelling is purchased within the second year after the sale of the original property.

     c. For equal or lesser value, comparison must be made using the full market value of the original property and the full market value of the replacement dwelling as of its date of purchase or completion of new construction. 

Contact your local county assessor on other requirements, such as homeowners exemption required, market value determined, whether it can be constructed after 198, whether replacement to be constructed within two years of sale of original, whether original is subject reappraisal at current market value.

TIMING OF CLAIM:  Without exception, a claim for relief on this must be filed within three years of the date a replacement dwelling is purchased or new construction of a replacement dwelling is completed.

Qualifying for this property tax value basis protection under Proposition 60 is complicated.  We recommend that you hire an experienced professional REALTOR.

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Disclaimer:  This is for information only and is not the providing of professional tax or legal services.  Before selling and buying a home with an idea to take advantage of Proposition 60 property tax assessed value basis value protection in California, you should consult with a lawyer and with an experienced REALTOR. 

If you and or your property to be sold or bought are in Orange County, CA, contact the office of Orange County Assessor (click here for information).

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

Our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com  -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com-  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com - 

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values" 

We list and sell homes and properties at Orange County, California, and thanks for contacting us about Proposition 60 and seller and buyer opportunities. 

Posted via email from Explore OC Homes

Mortgage Rates at Historic Lows Continue to Help Home Buyers

 

Most HOME BUYERS need and get LOANS for their purchases.

LENDING RATES are a primary factor for home buyers to consider for their decisions.

 

Prospective HOME BUYERS got help again this week when fixed mortgage rates fell to an all-time low since 1971.  

 

 

Fixed MORTGAGE RATES for HOME LOANS were at HISTORIC LOWS again this week according to FREDDIE MAC.     

• Average rates for 30-year fixed loans were down to 4.17 percent, the lowest on record dating to 1971. 
• The average 15-year fixed rate was 3.57 percent, the lowest since Freddie Mac started tracking such loans in 1991. 
• Five-year hybrid adjustable rate mortgages averaged 3.25 percent.  One-year Treasury-indexed ARMs were 3.26 percent. 

Last week the FED said it would buy $600 billion in government bonds to help keep interest rates, including mortgage rates, low.  That news essentially drove home loan rates down.

 

Time is now for Orange County and California home buyers to take advantage of the BEST LENDING RATES EVER, make decisions and get moving. 

Source: OCRegister.com, November 12, 2010

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Harrison K. Long - Business Solutions and Advisory - REALTOR® and broker associate, Coldwell Banker Residential Brokerage - Phone: 949-854-7747  -  CA DRE 01410855

Our property web sites @ www.OCPropertyNews.com  -  www.LiveAtNewportBeach.com - www.CostaMesaLive.com  -  www.Irvine-homevalues.com  -  www.NewportCoastLive.com   -  www.CoastLivinghomes.com  -  www.OCHomeValueGuide.com -  www.LiveAtIrvine.com  -  www.ExploreOCHomes.com  -  www.LiveAtLagunaBeach.com - www.LiveAtOrangeCounty.com - 

"Helping People, Moving Forward, Developing Relationships and Protecting Property Values"

 

For your home loans in Orange County, California, contact experienced loan broker Tim Sibley, First Capital Mortgage, Corona del Mar - 949-718-1511.

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We list and sell homes and properties at Orange County, California.  Please contact us about buyer opportunities and amazing low mortgage rates at Orange County homes and properties.

Posted via email from Explore OC Homes