Orange County condos are at very affordable price right now, and some even say they have reached bottom. Seems like buying a condo is a great investment opportunity even if you don't plan to live in it. But before you jump into buying a condo, there's 10 questions you should know the answer to, ask yourself or find out about:

1. How much are the monthly condo fees and what does it go towards?
2. What are the specific rules of the condominium?
3. How much is in capital reserves and how much gets funded every year?
4. Any contemplated or pending special assessment or legal stuff happening?
5. How is the association managed: professionally or self?
6. Is it legible for FHA or VHA funds?
7. How many of the units are lived in by their actual owners?
8.…

4570 Views, 0 Comments

Thanksgiving is just almost here and with all the publicity in all media about those special 'Black Friday' sales events and deals, makes you wonder what people are more excited about, the Turkey dinner or waking up at 4am in the morning to rush to some Black Friday event.

Apparently this applies to our Real Estate industry in general, as it has been reported that for many Orange County Realtors, this is no holiday weekend. People are looking for home deals and with little time in their hands, these days are the perfect opportunity for bargain shopping.

Some homes are like some famous retailers we all know about. They don't need to be under priced to still have a long list of home buyers waiting for when they become available. They don't need the…

1802 Views, 0 Comments

Dana Point Real Estate News: Holiday Events!

dana_point_holiday_eventsWell, technically this is not Dana Point real estate related information, but knowing about the events happening in the city that you might want to purchase a home in, is obviously important, so we wanted to share the dates and locations for some of our favorite events happening in Dana Point this 2011 Holiday Season. Best part, most of these events are free or require little money to enjoy!

Dana Point Holiday Events and Celebrations 2011

  • Sunday November 20th: Holiday Tree Lighting Ceremony at the Ritz Carlton.

This a beautiful event with the annual Tree Lighting and the opening of the Fourth Annual Holiday Surfboard Auction. The event includes festive holiday music and a visit by Santa Claus.…

2161 Views, 1 Comments

Since almost everything about the Orange County real estate market has changed over the last few years, though, so we thought it was time to provide you with an updated real estate lingo decoder that accounts for those changes in the market. We are sure you've heard of 'needs tlc' ( meaning it's in pretty bad shape), cozy ( small) , original details ( have NEVER been renovated), but also the famous ' pride of ownership', 'sought after' and 'priced to sell', like if a house wasn't listed with the intention of selling it.

Some of the terms used on the listings and their abbreviation may be confusing, so here's a little explanation to the top 5 we thought were important.

1. REO: Its short for Real Estate Owned. Sometimes people confuse the foreclosure (…

1858 Views, 0 Comments

Since almost everything about the Orange County real estate market has changed over the last few years, though, so we thought it was time to provide you with an updated real estate lingo decoder that accounts for those changes in the market. We are sure you've heard of 'needs tlc' ( meaning it's in pretty bad shape), cozy ( small) , original details ( have NEVER been renovated), but also the famous ' pride of ownership', 'sought after' and 'priced to sell', like if a house wasn't listed with the intention of selling it.

Some of the terms used on the listings and their abbreviation may be confusing, so here's a little explanation to the top 5 we thought were important.

1. REO: Its short for Real Estate Owned. Sometimes people confuse the foreclosure (…

1392 Views, 0 Comments

Orange County Metro Link Now Available

So this is technically not a 'real estate in Orange County' item, but an important addition to the services in the County, worth mentioning in our site. The Orange County Transportation Authority launched OCLINK this past Tuesday, a pass that allows riders to hop on trains and buses throughout the county.

Starting Tuesday, you can go anywhere in Orange County on a $7 day pass good on OCTA buses and Metrolink trains. And on weekends, an all-weekend Metrolink pass is $10, good in five counties.

Also,beginning July 1 for a limited time, Metrolink also is offering the All-Weekend Metrolink Pass for $10 per person. This pass is good to ride for an entire weekend, starting from 7 p.m. Friday evenings until midnight on…

2594 Views, 0 Comments

Now that you have your dream home, what do you do when you find that you owe more on your mortgage than the home is worth?  While it may not make you feel better, know that you are not alone.  It unfortunately has become all too common.  So, what should you do? 

First of all, don’t panic.  There are options.  They aren’t convenient, and they will hurt but you CAN get out from under it with some gut wrenching decisions and much perseverance.

Take a look at your overall financial picture.  If you don’t have to sell your home, DON’T.  Hang on to it and wait out the economy.  The “guru’s” all seem to think 3-5 years for recovery and depending on how upside down you are, you may be able to ride out the storm.  Tighten your budget so that the ride doesn’t…

1618 Views, 0 Comments

In 1969, when the famous amphibious crooner Kermit the Frog first sang “It’s not easy being green”, little did he know that someday it would be!  Today, we can live green and save some bucks in the process.  While we can still turn off the lights when we leave a room and run our appliances after peak hours, there are so many more things that we can do to save money around the house and be good to the environment at the same time!

 

Some of the easiest and least expensive things to do are:

 

1. Replace incandescent light bulbs with energy efficient compact fluorescent bulbs.  While they may be a few dollars more to purchase than the old bulbs, they will last 10 times longer and can save you $30 or more over the life of the bulb.  Do that in the…

1827 Views, 0 Comments

Orange County MLS inventory has a decent amount of homes listed as bank owned, commonly known as foreclosure sales or REO's ( Real Estate Owned). These homes have been acquired by the banks or lenders through the process of foreclosure, which is basically a home that the bank needs to get off its books, and where noone showed up at the courthouse to bid on the minimum amount of the existing mortgage, or mortgages.

These homes typically are listed at a 'market price' or even below it, so be ready and act fast.With these luxury foreclosure homes in Orange County, Be ready to compete too, as these homes tend to have multiple offers on them too. What's nice about them, is that these escrows tend to be much shorter than those of shortsales. Bank Owned homes…

743 Views, 0 Comments