May Inventory is Very Low!

May 6, 2012 by  

Two homes just hit the market, with two currently in escrow. That’s LOW inventory, which is good news for Danawoods sellers, and great news for the rest of us in the neighborhood!

For the latest information, access the information right here through your portal to the MLS.

Filed under: Market Update
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Orange County Real Estate is Hot!

May 6, 2012 by  

What a Difference a Year Makes! In March, I started the newsletter with “Holy Mackerel! It’s been a busy month!”

As for April? Even more so! Example: we listed a home for sale in Irvine, a referral from one of our wonderful neighbors. The owner did everything right….followed our recommendation to stage his home, make modest improvements to carpet and paint, and to price it right.

The result? Fifteen (15) written offers, only one of which was below asking price. The property is now in escrow at $60,000 OVER asking price. Now that’s how to sell a home in Orange County, don’t you think? Almost every offer was from a buyer intending to occupy, and most of the offers included huge downpayments. Two were all-cash offers above full price.

Real estate investors are out in force. All this extra demand is making the market more competitive for buyers, much improved for sellers.

We have helped over 1000 families close escrows…and another dozen last month!
Let’s get started! Call me at (949) 240-5892.

Filed under: Christe's Corner
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HARP Program Expanded to Help More Homeowners

May 6, 2012 by  

The Federal Government has modified the HARP program to help more homeowners who may be underwater on their mortgages. Call us at (949) 2400-5892, or via email, for specifics that may apply to your home and mortgage, but there are a few restrictions, including these guidelines:

  • Your loans must have been purchased by Fannie Mae or Freddie Mac prior to May 31, 2009, with an LTV ratio in excess of 80%.
  • No late payments during the previous 6 months, no more than one late during the last 12 months.
  • You must be current on your loan.

Here’s an excerpt from an article in the LA Times online:

Though it was announced by the Obama administration late last year, “HARP 2.0″ — the second version of the Home Affordable Refinance Program — will finally hit full stride around the middle of this month, when Fannie Mae and Freddie Mac finish tweaking their automated underwriting systems to accept applications, and lenders and mortgage insurance companies start handling large volumes of requests.

The revisions are crucial for owners who have outstanding mortgage balances in excess of 125% of the current resale values of their homes. Under the second version of HARP, there is no upper limit on permissible loan-to-value ratios (LTVs). You can owe twice or even three times the value of your home and still qualify for a refinancing at today’s low interest rates. The earlier version imposed a limit of 125%, which cut out millions of the hardest-hit victims of the real estate bust.

Filed under: Inside Real Estate
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