Ring in the new year with a resolution to pick a new question on the Mission Viejo Real Estate Market.

Please. I beg you. If I hear “How’s the Market?” one more time, I’m likely to puke up my eggnog. I’m done with the snappy comeback “it depends.” Seriously? “How’s the Market?” What’s wrong with this question? It’s way too broad, that’s what. Here’s why:

1. What kind of home?

Condo or single family home? Fixer or Turnkey? Short Sale, Standard Sale, or REO?

2. Where?

For goodness sakes, you all know that location, location, location is so important. What Orange County city/community/neighborhood? On the beach? On a golf course? Backing to a freeway or busy street?

3. What features?

Remodeled or original condition? Huge lot? Pool? View? Office? Close to schools? HOA? Mello Roos?

4. What condition?

Trashed or upgraded? Abandoned or lovingly maintained? Funky add on or former model?

5. Who are you?

A buyer? A seller? An investor? A home owner trying to figure out how far underwater you are?

So if you want to know about standard sale turnkey single family homes for sale in Mission Viejo with a pool and a view because you’re looking for a place to raise your family and you have way too much going on to even think about remodeling the kitchen or putting in the pool yourself and you want to avoid Mello Roos assessments, that’s a great question!

On behalf of all Orange County Realtors, help us help you. Fill in a little more detail. Please. I beg you again.

Oh, and Happy New Year!

A New Year – A New Question on Mission Viejo Real Estate is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

But if I just bought a home in Mission Viejo, I’d re-key.  Not so much the key to your heart, but when talking about the keys to your new kingdom, get new ones.  And the door locks to go with them.  The same day your Mission Viejo Realtor hands you the old keys to your new home.  Here’s why.

If you bought your Mission Viejo home from an Equity Seller, a real person or family, they probably had all kinds of keys to the house out in the universe.  The kids and grand kids all have house keys.  A couple of neighbors of course have keys, just in case they need to get into the house while the former owners were on vacation and an emergency had arisen.  (You’ve heard about tsunamis, tornados, and lightening-induced wild fires, right?)  The maid service has a key, hopefully the reproduction of which has not gone viral at the first indication that the house was to be sold.  The babysitter has a key for sure, and maybe her boyfriend.  Maybe even the dog sitter, the plant tender, the pool guy and the gardener.  And the one hidden somewhere – in such plain sight that anyone could find it.  So I’d be going not very far out on that proverbial limb to say there are probably an average of 10 keys to your Mission Viejo house in someone else’s hands the day you move in.  Feeling a bit insecure?

If you bought your home from a Short Sale seller, it’s pretty much the same story.  While the names have been changed to protect the innocent, all the family, friends, neighbors, and household servicers are likely to have a key.  To the lock that protects you and your family and your family’s stuff.

Here’s where it gets a really creepy. Did you buy a Mission Viejo REO?  Well, thankfully the bank re-keyed the main locks on your house the minute they got that asset on their books.  Or as soon as the occupants moved out.  But here’s the fine print.  Most banks use the same master key for every single one of their properties.  The same key for every single home.  And there are usually two keys for every lock they replace.  I did a little back of the envelope scenario.  Average of three locks changed per home and they provide two keys per lock. Twenty-four thousand seven hundred and three – 24,703 – REO homes have been re-keyed in Orange County since January 1, 2004.  That’s 148,218 keys.  Even if there are 15 – 20 master keys, that’s a heck of a lot of exposure if you are living in an un-re-keyed REO home in Orange County today.  It really only takes about an hour to re-key three locks with the same new key and costs under $150.00.  Re-key.  Please.  Call Peter Bau at 949-395-2000 for more information on your re-key options.

Call me if you want more information on re-keying or any other topic – 949-678-3373.

To Re-Key or Not to Re-Key Your Mission Viejo Home – The Decision is Up to You is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

There’s One Number at the Root of Advanced Math for Today’s Mission Viejo Home Sellers and Home Buyers

There are multiple terms that mean the same thing in Mission Viejo Real Estate, just like the Governator has more nicknames now than he did before he spilled the beans about his other child(ren.)  Bank Owned and REO = same thing.  Equity Seller, Non-Distressed Sale, and Standard Sale = same thing.  So the most important number in the Mission Viejo Real Estate game today goes by many names.  Comps, CMA, Current Market Value, Recent Closed Comps, and Recent Closed Sales = same thing.  The operative words here being recent (as in within the last three months,) closed sale (as in actually traded hands for a verifiable price, ) and comparable (as in similar to your home in size, style, location, condition, and emotional appeal.) And it is equally important to  both Mission Viejo Home Sellers and Mission Viejo Home Buyers.  The one number that you’ll both have to agree on if you’re going to put a deal together.

For home sellers, you’ll be plowing your way through numbers like your expected net proceeds at different potential sales prices, capital gains limits (if you’re lucky,) your remaining loan balance, your required repair costs, and your moving costs.  For home buyers, you’ve got the size of the loan you can qualify for, the amount of your down payment, monthly payments at different potential interest rates, property tax payments, and closing costs.  Oh, and the cost of your appraisal and home inspection(s.)

Thing is, in all this quagmire of money going back and forth, the number that sits right in the middle of the whole deal is the current market value of the home you are selling or buying based on recently closed comparable sales.  It will be a barometer for buyers – the way they’ll know what price to offer on your home.  And a gauge for home sellers to know how to counter that low ball offer or figure out that you’d better take it while you can.  And you’re all looking at the recent closed sales and adding and subtracting for similarities and differences between what has sold recently and the deal you are trying to put together.

Are sellers likely to think their home is better than the recent sales and therefore obviously worth more?  Are buyers likely to discount the color of the granite and the quality of the new cabinets to justify a lower value than the one up the street?  Of course.  That’s why they call it negotiating.  But if you come back to the comps, you’re much more likely to make a deal. Or know when it’s time to say Hasta La Vista, Baby. Next.

Call me if you want to see what the comps say about your Mission Viejo home.  Or any other great Orange County home.  Leslie 949-678-3373

Mission Viejo Home Sellers and Home Buyers Have to Know the Comps is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

385 New Hampshire in Gated Granada Park – off Kraemer and Chapman – Open Saturday May 28 from 1 – 4 PM and Sunday May 29 from 1 – 4

4 Bedroom 3 Bath 2335 Sq Ft Single Family Home – 2 car attached garage, community pool, spa, and tennis courts.  Get in for a sneak peek before it hits the market! Be the first offer in!   Or sign up below for a private tour.

Placentia Open House – REO Sneak Preview is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

Save Your Spot Now for The Real Deal on Being a Successful Buyer in Today’s Orange County Real Estate Market!

Learn the insider tricks and strategies for what it takes to WIN as a buyer in today’s Orange County Real Estate Market. You’ll come out with a plan for your home buying success.  This really is ALL ABOUT YOU!!!

Who:       You need to be there if you want a customized strategy for your success as a home buyer in today’s Orange County Real Estate Market
What:      Your best bet for hatching a plan to be a winner as a home buyer in today’s COMPLICATED Real Estate Market
When:     Thursday June 2  – Two Options – Lunch from 12 – 1 PM or Appetizers from 5:30 – 6:30 PM
Where:    Realty One Group Mission Viejo Office – 25910 Acero Suite 100 – off of Alicia and Jeronimo
Why:       So you know what to do to get what you want

Call today to reserve your spot.  949-678-3373

FREE Orange County Home Buyer Seminar in Mission Viejo – Space is Limited is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

What’s Eating Us Today About the Mission Viejo Real Estate Market?  Here are Your Top Four

1. We un-love the way the that Mission Viejo Short Sales make the sellers, the buyers, and the Real Estate agents wait in a state of limbo even Mr. Freeze, one of Batman’s fiercest enemies, could not replicate with his blasted gun.  Caught, as we all are, in the grips of rigor; unable to make a move in an any direction without a decision from the bank.  We do not love thee so much.
2. We un-love the way that so many Mission Viejo homes, once lived in by joyful people, now sit empty and alone. No one there day in and day out to catch it when the pipe under the sink bursts or the valve to the water supply in the refrigerator cabinet leaks.  Water, where it’s not supposed to be, and time are a dangerous combination inside a vacant home.  Mold is likely to follow.   We really unlike mold.
3. We un-love the vice grip of constraint the lending laws and regulations have placed on buyers trying to get a loan.  The indefatigable pursuit of every last bit of hard evidence of financial solvency up to the second before the Mission Viejo home buyer’s loan is funded.  We have performance anxiety in our jobs and sometimes in our families. We do not need the added pressure these constraints apply at the last possible minute.  We really unlike melodrama at our own front doors. It blocks the way for the moving truck.
4. We un-love the incongruity of list prices of homes for sale in Mission Viejo today.  Like Goldie Locks picking out the right porridge, good Mission Viejo Realtors have to explain to sellers and buyers why one is too high (Equity Sellers) one is too low (Short Sales) and one is just right (REOs.) We un-love the tease of the too low pricing and the outrageousness of the too high pricing.

We look forward to a return to the halcyon days of simpler times in Mission Viejo Real Estate.  Come back.  Soon.

Call me with your questions on today’s Mission Viejo Real Estate market.  Please.  949-678-3373.

Oh, Mission Viejo Real Estate Market – How Do We un-Love Thee? Let Me Count the Ways. is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

Placentia REO Home for Sale Won’t be a Secret Long – Beat the Competition!

Get your pre-listing offer in on this well-maintained and spacious Placentia home in the gated Granada Park community.  Four bedrooms, 3 full baths, formal living room, family room and formal dining room.  Hardwood floors in the kitchen and nook.  Newer dual pane vinyl windows throughout.  Two car garage.  Lush mature landscape with fruit trees and flowers galore.  Very quiet, private location – but just minutes away from shopping, restaurants, schools and easy freeway access.

Don’t let the bright custom paint deter you from seeing the great floor plan and features of this home.  Newer appliances including a gas range and microwave.  Inside laundry room with room for side by side washer and dryer.  Downstairs bedroom and bath.  Light and bright.  A real gem.

Call me for a per-listing tour and to find out how to submit an offer the bank can’t refuse!!

Leslie.  949-678-3373.

NEW REO Home for Sale – Deal of the Week – Placentia Single Family Home is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

Equity Sellers Dominate the Mission Viejo Real Estate Market

May 16, 2011 – Today in Mission Viejo there are 400 homes for sale in the Southern California Multiple Listing Service (So Cal MLS) ranging in price from a low of $118,000 to a high of $2,695,000  Of these 400, 57% are offered for sale by owners who are NOT upside down on their mortgage – their home is actually worth MORE than what they owe the bank.  Despite the toll these rough economic times have had on home owners in Orange County and across the country, there are still more opportunities to buy a home by negotiating directly with a real home owner – without the added complexity and uncertainty of dealing with a banker for consummation of the deal.

The number of distressed homes for sale in Mission Viejo today fall into two main categories – 35% are Short Sales and 6% are REOs.   And in the Short Sale group of 138 active listings, 59% are priced under $450,000.   The under $450,000 price range is 46% of the total number of Mission Viejo homes currently for sale.

The remainder of homes on the market in Mission Viejo are a handful of Relocation Sales, Flip, Probate, HUD and Bankruptcy Sales.

So, what does this mean, you may be asking. To me, it means that there are more opportunities to purchase from a real live seller who has actually lived in the house and knows the home’s history – good or bad.  REOs and Short Sales tend to be those with more deferred maintenance and more lender required repairs – tough expenses to swallow for first time home buyers.

Want more info on the Mission Viejo housing market?  Give me a call at 949-678-3373.  Or fill out the info below so I know how to reach you.

Mission Viejo Real Estate – Market Update is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

Mission Viejo Home Buyers Come in Two Flavors – Getting Ready and Being Ready

You wouldn’t go to your office without your clothes on, right?  Or try to drive to the office without gas in the car.  So why are Mission Viejo home buyers looking at homes without either a Pre-Approval letter from a lender, dated within the last 30 days, OR a brief case full of cash?  Just like you wouldn’t show up at work stark naked, but rearing to go, you really can’t go look at homes if you don’t even know what you’re qualified to spend.

Now let’s be clear on semantics here.  Shopping for homes and actually looking at homes are two different things.  At least to me.  I’d be the Realtor, here.  You can shop all you want.  You may even be stark naked while you do it.  Because you can do this all on the internet.  Surf the web.  Read the compelling  descriptions of the hard wood floors, granite counters and stainless steel appliances.  Then look at the photos.  Take the virtual tour.  Again. And again.  And again.  Check out the aerial photo.  See if it backs to a busy street.  That’s all still “shopping” in my version of Orange County Real Estate Reality.  All from the privacy of your own computer, iPad, iPhone or Driod.

Looking at homes?  That’s the next big step.  That’s when you actually eat a good breakfast, get dressed, and get in your Realtor’s car to drive around and actually look at the homes you’ve picked out whilst shopping.  You actually go though the home -inside and out.  In person.  With your Pre-Approval from a lender dated within the last 30 days in your folder which you carry with you 24/7.  Just in case you look at a home you actually decide you want to buy.

We all know this is a HUGE decision to move from a shopper to a looker.  From Getting Ready to buy to Being Ready to buy.  Financially and emotionally huge.  And getting Pre-Approved requires something of a commitment.  You have to give someone permission to run your credit.  You have to pull together your financial info – tax returns, pay stubs, and bank statements.  And show it to your lender.

So just decide which flavor of buyer you are, or what flavor you need to be to reach your goals.  If you’re Getting Ready, you may want to stick to the internet, Open Houses, and Model Homes to help nudge you forward.  To give you the confidence to take the next step.  If you Are Ready, go looking with confidence, make offers that make sense, and march with dignity (and all of your clothes on) to the day that your offer gets accepted!

I’m Leslie, just keeping it Real in Mission Viejo Real Estate.  Like me on facebook to stay in touch – http://www.facebook.com/whatagentsfeartellingyou   949-678-3373

Mission Viejo Home Buyers – Are You Ready or Getting Ready to Buy? is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale

Should Your Mission Viejo Home Inspection Include a Mold Inspection?

Go ahead.  Watch the video.  You’ll see Trace the Mold Sniffing Dog do his thing.  While his Boss, Jack Clausen of JLC Home Inspections tells you a little bit about what’s going on.  In this Mission Viejo house, Trace found his hidden baseline sample Jack had stashed in the kitchen cabinet as well as the visible mold in the refrigerator cabinet.  We knew that was there because we could see it.  What Trace told us about the rest of the house is that there’s not much to worry about.  Trace is a tool that Jack uses to confirm what he sees in the visible parts of a home and to detect potential mold in areas that aren’t visible.  Make sense?  Something you might want to consider when buying one of the great homes for sale in Mission Viejo today.

Mission Viejo Real Estate – Home Inspection by Trace the Mold Sniffing Dog is a post from: Mission Viejo Real Estate-Mission Viejo Homes For Sale