Harbor View Homes - Newport Beach Real Estate Update

 

Harbor View homes is an excellent residential area and one of the most popular for buyers of single family homes at Newport Beach.

Most of the original Harbor View tract homes from the 1970s have been remodeled or completely rebuilt.

Harbor View community amenities include competition swimming pool, spa, tennis courts, soccer and baseball fields, and also award-winning Anderson Elementary School (Newport Mesa Unified School District).

Harbor View had 52 homes sold for the year 2010.

• Average sold price was $1,729,000
• Average interior size was 3056 SF
• Average sold cost per SF was $513
• Average time on market for sold homes was 88 days

At the end of January 2011, Harbor View at Newport Beach had 6 homes listed for sale.

• Average list price was $2,675,000 
• Average list price per SF was $735 
• Average interior size was 4,817 
• Average time on market for those listed home is 214 days

See Harbor View homes at Newport Beach now listed for sale - click here for active link

See Harbor Ridge homes now listed for sale - click here for link

See Bommer Canyon homes now listed for sale at Newport Beach  

Join with us and others to see Harbor View homes, which are located about a mile from Newport Center business district and world famous Fashion Island Shopping Center.

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This is for information only from Southern California Multiple Listing service, does not include new home sales, FSBO, or sold at trustee auction sales after foreclosure.  If you want a list of properties for sale at any Newport Beach neighborhood, please contact us - click here

If you want to talk about selling, buying, or investing in homes and real estate at Harbor View, Newport Beach and Orange County, California, please contact me.  Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

We help people with their best decisions about real estate, listing and selling of homes and properties at Newport Beach and Orange County, California.  

Posted via email from Explore OC Homes

Irvine Foreclosures with Trustee Auction Sales Scheduled

 

Irvine is the economy driven engine at Orange County, CA, and has private industry employment opportunities for professionals and job seekers.

It also has some of the most sought after residential communities in Southern California where buyer demand and prices jumped for time from 2004 to 2007.

With U.S. and CA economy system challenges since then, Irvine home and property owners are not immune.

Irvine now 737 homes in preforeclosure with notices of default already recorded.

458 Irvine homes and properties are in foreclosure with trustee auctions sales now scheduled. 

• 92603 zip area - Quail Hill, Turtle Ridge, Turtle Rock, Shady Canyon - 68 properties 
• 92612 zip area - University Park, University Town Center, airport area - 66 properties 
• 92604 zip area - Westpark and part of Woodbridge - 58 properties 
• 92614 zip area - Woodbridge and part of Westpark - 47 properties 
• 92618 zip area - Oak Creek, Woodbury, East Irvine - 36 properties
• 92602 zip area - Northpark, Portola Hills - 41 properties
• 92620 zip area - Northwood and North Irvine - 99 properties 

Most trustee auction scheduled properties won't eventually be sold as foreclosures. 

 

Lenders/lienholders don't like foreclosures and would rather see owner successful short sales to resolve nonperforming loans.

Foreclosures aren't a good thing for property owners or lender/lienholders. 

Owners in foreclosure should get organized, hire qualified Realtors, avoid foreclosure and short sale the properties.

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Data Source: ForeclosureRadar.com 

If you want to see a list of homes scheduled for trustee auctions at any of the Irvine or other Orange County areas, please contact me.  Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

We list and sell homes and properties at Orange County, California. 

Posted via email from Explore OC Homes

Carbon Monoxide Detectors Required in California Houses & Dwelling Units

 

Carbon monoxide is a gas produced whenever any fuel, such as gas, oil, kerosene, wood, or charcoal, is burned.  A person can't see or smell carbon monoxide.

The California Carbon Monoxide Poisoning Prevention Act of 2010 (Cal. Health & Safety Code §§ 13260 et seq) is now law requiring carbon monoxide detectors to be installed in every "dwelling unit intended for human occupancy."   

A carbon monoxide detector is a device similar to a smoke detector that signals detection of carbon monoxide in the air. 

This carbon monoxide detection device must be:

• Designed to detect carbon monoxide and produce a distinct audible alarm.  It can be battery powered, a plug-in device with battery backup, or a device either wired into the alternating current power line of the dwelling unit with a secondary battery backup or connected to a system via a panel. 
• If this device is combined with a smoke detector, it must emit an alarm or voice warning in a manner that clearly differentiates between a carbon monoxide alarm warning and a smoke detector warning.

Each owner of a "dwelling unit intended for human occupancy" must:

• Install an approved carbon monoxide device in each existing dwelling unit having a fossil fuel burning heater or appliance, fireplace, or an attached garage.  The applicable time periods are:  (1) For all existing single-family dwelling units on or before July 1, 2011.  (2) For all other existing dwelling units on or before Jan. 1, 2013.  (Cal. Health & Safety Code § 17926(a).)

A carbon monoxide alarm should be:

• Centrally located outside of each separate sleeping area in the immediate vicinity of the bedrooms.  The Alarm should be located at least 6 inches (152mm) from all exterior walls and at least 3 feet (0.9 meters) from supply or return vents.
• Installed outside of each separate sleeping area in the immediate vicinity of the bedroom(s) in dwelling units and on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages.

Sellers carbon monoxide disclosure obligations:

• Would be satisfied when providing a buyer with the Transfer Disclosure Statement or the MHTDS.  If the seller is exempt from giving a TDS, the law doesn't require any specific disclosures regarding carbon monoxide detector devices.  (California Civil Code §§ 1102.6, 1102.6d.) 
• Homeowners' Guide to Environmental Hazards also will include information regarding carbon monoxide.

Landlords have special obligations regarding carbon monoxide detectors: 

• All landlords of dwelling units must install carbon monoxide detectors.
• Landlords in CA have authority to enter the dwelling unit for purpose of installing, repairing, testing, and maintaining carbon monoxide devices "pursuant to the authority and requirements of Section 1954 of the Civil Code [entry by landlord]."
• The detection device must be operable at the time that a tenant takes possession. 
• The tenant has responsibility of notifying the owner or owner's agent if the tenant becomes aware of an inoperable or deficient carbon monoxide device.  However, the landlord is not in violation of this law for a deficient or inoperable carbon monoxide device if he/she has not received notice of the problem from the tenant. (CA Health & Safety Code § 17926.1.)

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Source: California Association of Realtors 

Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

We help people with listing and selling of homes and properties at Orange County, California. 

Posted via email from Explore OC Homes

Newport Coast Real Estate - January 2011 Home Sales

 

Newport Coast is a spectacular part of Newport Beach and South Orange County where private and gated communities with Pacific Ocean views have attracted some rich and famous people. 

Newport Coast had 16 homes resold during January 2011. 

• Average sold price was $1,828,500
• Average interior size was 3308 SF
• Average sold cost per SF sold was $533
• Average time on market for sold homes was 99 days

Last year during January 2010, only 12 homes sold at Newport Coast.

Several of those Newport Coast homes were quite high in price, so average sold during that time was $3,422,825.

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 Newport Coast had 122 homes listed for sale as of January 31 this year.

• Average list price was $4,651,000
• Average list price per SF was $735 
• Average interior size was 4,791 SF 
• Market time average to sell all listed Newport Coast homes at current rate is about 8 months

 See Newport Coast single family homes now list for sale

See Pelican Ridge listings

See Newport Coast condo home listings

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This is for information only from Southern California Multiple Listing service, does not include new home sales, FSBOs, or those sold at trustee auction sales after foreclosure. 

If you want to see properties at any Newport Coast neighborhood, please contact us.

If you want to talk about selling, buying, or investing in homes and real estate at Newport Coast and Orange County, California, please contact me.  Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI - Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

Thanks for contacting us about listing and selling of homes and properties at Newport Coast and Orange County, California. 

Posted via email from Explore OC Homes

Trustee Auction Sales in California After Foreclosure

 

On the date and time of the trustee sale auction after foreclosure in California, one of four things might occur with the property:

1.  The auction for the particular loan may be cancelled. 

• This may occur because the property was sold before the auction, and therefore the loan was repaid (or partially repaid in the case of a short sale); the owner was able to refinance the loan; the owner came up with the cash to bring the loan current; or, there may have been an error made in the sale process, and the trustee has decided it would be better to restart the process. 

2.  The auction may be postponed to a later date and time.

• Common reasons for postponement include: mutual agreement, where the borrower and lender agree to delay the sale; beneficiaries request, where the lender decides to postpone; trustees discretion, where the trustee decides to postpone, often because it can't reach the lender for bidding instructions; bankruptcy, which actually doesn't completely stop foreclosure, but instead puts a temporary stay on the sale until the lender can get a motion granted by the judge allowing them to continue the sale; and operation of law, where a court has ordered that the sale not be held.

3.  The property may be Sold to 3rd party. 

• The loan being foreclosed on was offered for sale by the trustee, and a bidder (other than the lender) ended up purchasing the loan. 

4.  The property may be Sold to the Lender/Bank. 

• It is the trustee, not the bank, that sells the home.  Since the lender clearly has the most to lose in the transaction, and because they are the beneficiary of any funds received from the sale, they are allow to place the first bid, and are allowed to credit bid (bid without bringing cash to the sale), up to the amount they are owed.

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Source: ForeclosureRadar.com.  This is for information about trustee auctions after foreclosure in California only and not the providing of tax or legal services.  If your property is subject to foreclosure and trustee auction sale, you should consult with a lawyer.  Buying of properties at trustee sale auctions is tricky and risky, and you should hire an experienced Realtor to help you with that.

If you want a list of properties scheduled for trustee sale auctions after foreclosure in your Orange County area, please contact us - click here

If you want to talk about selling, buying, or investing in homes and real estate at Orange County, California, please contact me.  Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, Coldwell Banker Residential Brokerage- 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

Thanks for contacting us about listing and selling of homes and properties at Orange County, California.  

Posted via email from Explore OC Homes

Orange County Real Estate - January 2011 Home Sales

 

Orange County real estate markets had 1,757 homes resold during January 2011.

(This is almost the same number as January last year according to resales data from Southern California Multiple Listing Service).

925 homes (or 52.6% were regular equity sales).

478 homes (or 27% of he market) were short sales.  354 homes (or 20% of market) re bank owned REOs.

DataQuick Information Systems (tracking county-recorded home sales of all types, including new homes and foreclosure auction trustee sales) said that sellers closed 1,929 transactions during January 2011 (up 3.3% from January 2010). 

 

So 171 Orange County homes were sold during January 2011 (8.8% of all sales) that were not reported on the MLS, including new homes and foreclosure auction trustee sales.  
   

 

1761 Orange County homes were resold last year during January 2010.

(This is amazingly close to same number sold compared to this year during January 2011 - according to Southern California Multiple Listing Service)

971 homes (or 55% of market) were regular equity sales.

497 homes (or 28.2% of market) were bank owned REOs.  293 homes (or 16.6% of market) were short sales.

Realtors and agents here at Orange County are cautiously optimistic about possible home sale market improvement and recognize that buyers are thinking about the economy and jobs.

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If you are interested to discuss selling, buying, or investing in homes and real estate at Orange County, California, please contact us.  Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI, Coldwell Banker Residential Brokerage - 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

Thanks for contacting us about listing and sale of homes and properties at Orange County, California. 

Posted via email from Explore OC Homes

Newport Beach Real Estate - Home Sales and Lease Values

 

Newport Beach real estate - Home Sales and Lease Values update - February 2011 

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691 Newport Beach homes were sold during 2010.

• Average sold price was $1,417,530  
• Average interior size was 2,232 SF
• Average time on market was 131 days
• 94 of those sold were short sales (13.6% of market)
• 61 of those sold homes were REO                   

604 Newport Beach homes were leased during 2010.

• Average leased price was $3,593 per month
• Average annual lease cost was $43,116
• Average cost of annual lease was 3% of average cost of sold Newport Beach home during 2010
• Average interior size was 1763 SF
• Average time on market of 51 days

At the end of the January, 2011 @ Newport Beach

• 139 Newport Beach homes were listed for lease
• Average list price was $5,421 per month
• So average annual lease list price was $65,052  
• Newport Beach owners asking 50% more money at for lease listing than average completed lease price
• Average time on market of 114 days 

See Newport Heights single family home listings - click here for active link

See Baycrest homes listings at Newport Beach - click here for link

 See Balboa Peninsula listings - click here for link 

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This is for information only and data from Southern California Multiple Listing Service, which does not include FSBO, new homes sales by the builders, and homes sold at trustee auction sales at end of foreclosure.

If you are interested to sell, buy, or invest in homes and real estate at Newport Beach and Orange County, California, please contact me.  Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, Coldwell Banker Residential Brokerage- 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

Thanks for contacting us about listing and selling of homes and properties at Newport Beach and Orange County, California. 

Posted via email from Explore OC Homes

FHA to Increase Monthly Mortgage Insurance Premiums

The FHA has announced increase in mortgage insurance premiums (MMI), the FHA monthly mortgage insurance. 

These FHA changes are mentioned in its Mortgagee Letter 11-10 and become effective on or after April 18th, 2011. 

Fannie Mae has a pricing change for conventional loans that becomes effective on April 1st, 2011.  Pricing Hikes for Conventional Loans in April 2011.

FHA is expected to continue with minimum down payment of 3.5 percent.

Why did HUD increase the MI premiums?  The government wants to strengthen the FHA's Mutual Mortgage Insurance Fund (known as the MMIF) and see the fund financially sound.  There is no change to the Upfront Mortgage Insurance premium of 1 percent.

Old as compared with New Monthly Mortgage Insurance Changes

This chart is from Mortgagee Letter 11-10 - Annual Mortgage Insurance Premium Changes - Red arrow shows this goes into effect on April 18th (not April 4th). 

So what does this mean to those refinancing or buying new homes with a FHA mortgage?  (based upon hypothetical of $250k sales price)

It will cost the buyer of the $250k home $50.26 more in total monthly mortgage insurance payment.  Buyers would also have decreased purchasing power by about $9,000.  So instead of the $250,000 purchase price in the example, buyers could now afford a $241,000 home.

This new change is for 1 to 4 unit residential properties.  However, it does not impact Title 1 loans, reverse mortgages, the HOPE loan, and a few other types of FHA loans.  See new FHA mortgagee letter 11-10.

Here is a breakdown of different purchase prices on how much more a mortgage payment will increase because of the new FHA monthly mortgage insurance change.

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Source:  Jeff Belonger The FHA Expert - http://www.fhaloansfhamortgages.com - February 15, 2011 - This is for information only and not the providing of legal, tax or mortgage services.  If you have any questions about FHA home loans and mortgages, please contact Jeff Belonger The FHA Expert. 

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Harrison K. Long - solutions for real estate and business - REALTOR® and broker associate, GRI, Coldwell Banker Residential Brokerage- 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.

            

Please contact us about the listing and selling of homes and properties at Orange County, California.  

Posted via email from Explore OC Homes