Yorba Linda Orange County Real Estate Agent

Where Should You Buy Instead of Rent?

2011-03-25T15:44:00.000-07:00

There was a study done as to where it made more sense to buy instead of rent. Published by online real estate listing service Trulia, they gave the following cities in order: Minneapolis, Arlington TX, Miami, Fresno CA, San Antonio, Mesa AZ, Jacksonvile, FLA, Phoenix, El Paso TX and Las Vegas.

This indicates prices are low enough to purchase and would be more economical than renting. Some of these cities automatically remind me of weather conditions--like too hot in the summer and too cold in the winter. I think I'll stay in "sunny" California.

Why So Long?

2011-03-25T15:34:00.001-07:00

Yeah, I know it's been quite a while since I've been here. I've been collecting info but real estate changes were so incredibly fast that by the time I would post something, it would change again. The news was not very good anyway.

Also, I sometimes think I'm talking to myself and decided to spend time elsewhere. Where? Facebook. Found it fun reconnecting with old friends and keeping up with friends and relatives without having to spend time talking individually to them. Enjoy what other people are thinking and doing.

The market was so bad for a while that I found myself almost be semi-retired and didn't like that feeling. After beating my head against the wall decided to be more productive. All realtors have had their struggles with Short Sales and REO (real estate owned properties by banks). That's another subject in itself involving lots of frustration and unhappy sellers and buyers trying to get the bank to take action. They have been and continue to be overwhelmed. No one was prepared for what the economy and market would do. However, with all the money the banks are making you would think they would be a little more resourceful.

2010 Tarbell Awards

2010-02-17T11:04:00.000-08:00

Don Tarbell continues to produce outstanding programs for his agents. Many regard this year as the best--over the top.

There was a full production of "My Fair Lady" and they brought in Christopher Cazenove from London to play the lead. Veteran Broadway star Susan Egan was equally incredible. The voice of Hugh Panaro is always one of my favorites. There were so many outstanding performers that I wonder what Broadway was doing with them here and not on a New York stage. I'm sure the sunny days we are having made it easy to entice them to leave behind all the snow.

Another favorite performer was Nita Whitaker. No one can match her singing talent and we are so fortunate to have her and many others as repeat performers. If you are interested in how good these people are--just goggle info on them.

Songs from Briagadoon were sung by some of the cast members as well as the Young Americans. You can't beat their energy and the enthusiasm and talent they bring to the stage. There was so much star power that it was overwhelming.

Did I tell you Mark Watters was back with his elite orchestra to provide the music. We also had the Nicholosn Pipes and Drums that put on quite a show. The production was long but we didn't mind. We were all captivated. Don and Betsy Tarbell did it again!

I've learned that if you want to know the inside of what happens, talk to staff that works the area. I had that verified when one of the ushers said she had never seen anything like the production we were seeing there at the Orange County Performing Arts Center. She has been around a long time and even she was highly impressed.

Following this incredible performance our company held its awards presentation and recognized those agents who put in a lot of work in a difficult market. Next year should be even better. I did get an award this year and expect to be back on stage next year.

Did the Tax Credit Help to Sell Homes?

2010-01-05T20:02:00.000-08:00

I am continually receiving reports and updates on real estate news. A recent study was mailed to me from Wells Fargo giving their analysis from a survey taken in September 2009.

The awareness factor indicated 94% of first-time homebuyers knew f the credit and 72% of reners intending to purchase knew of the credit. 56% of actual homebuyers said it was the key factor in their decision. However, 74% said low home prices were the main reason to purchase and 66% attributed their decision to low interest rates. When you add all those factors you get over 100% so I assume it was multiple choice. The three factors were crutial in helping buyers to buy.

When asking renters who intended to purchase within the next six months, 72% said the tax credit were a key factor (but not only factor), 84% said low home prices were the reason and 74% said it was due to low interest rates.

Single family homes in the North Orange County area when listed below $500,000 are still getting lots of activity and multiple offers are there. I've had a couple of clients trying to buy properties in that range and we are still running into the same problem--investors with all cash naturally get first consideration and offers are coming in higher than asking price.

The forecast is that it will be another year or two before distress properties are off the market. We have to remember with buyers purchasing all these lower priced distress properties that we have no move-up buyers to purchase homes up to a million. Those are the price ranges that are really hurting.

I recently did an analysis for a homeowner in Fullerton looking up to $700,000 and half of the properties on the market were still Short Sales and bank owned properties. We are being told the bnaks have finally hired staff that can better process the Short Sales. Theya re still risky and you can sit on a Short Sale for months not knowing if the bank will consider the offer. Agents usually have it so low that you naturally get a buyer trying to buy but the bank may not be willing to take such a huge hit. No one is happy.

I am very thankful the last three I sold in November were equity sales and we didn't have to go through that process.

Loan modifications are another topic I won't go into. Homeowners are going months trying to negotiate not knowing if the banks will accept a compromise. As with Short Sales, some are justified and others are just looking for an excuse to get out.

It will be another 2-3 years and many getting out of distressed situations will be in a better financial position to purchase homes once again. That is not that far off and the cycle that has been down will go up.

New Christmas Adventures

2010-01-05T19:49:00.000-08:00

I wasn't exactly overwhelmed with real estate activities in December so found time to have fun enjoying some of the wonderful holiday activities in our area. During this time I did list a condo to sell and completed a lease transaction, showed property, etc. etc.

Downtown Yorba Linda had an old fashion Christmas and brought in real snow for the kids and perhaps a full adult kids to play it. The carolers, toy train ride, Santa plus much more made you feel like Christmas was coming. I also went to Disneyland twice--once to see the decorations in the day and then back another night to see the lights, fireworks and Small World. There were lots of people, but worth the hassle.

For the first time I went to Mission Inn in Riverside to see their spectacular lights. I didn't know they had a Gingerbread House selling gingerbread cookies and enjoyed that. I was taking pictures every time I turned around. A block away they had an outdoor ice skating rink on the plaza. Another Christmas feel-good adventure.

I'd almost forgotten about the Christmas Market at Knott's Berry Farm. My 3 1/2 year old granddaughter has been afraid of Santas but this one got her attention and we were amazed that she really went to talk to him. That was an accomplishment.

Another fun adventure was riding on a boat observing the Christmas lights and decorations at Eastlake in Yorba Linda. What a treat! I think I've done it all this year so don't know what new will be in store next. It was a wonderful season and many churches, including ours at Eastside in Fullerton, had pageants and programs that talked about the real meaning of Christmas.

We are so fortunate we live where we do. I can't think of a better place to live and buy a home than our own North Orange County. We have it all--mountains, beaches, parks, community activities for everyone and real estate prices that are so affordable. I'm ready to meet the new challenges and help people move into one of our beautiful cities.

Computer Frustration

2010-01-05T19:35:00.000-08:00

Any idea what happens when your email doesn't work? Complete frustration!! I'll admit I haven't kept up with blogging reports but sometimes wonder is it really worth it. After no comments in a year, I thought I might be talking to myself. Whoever you are, Anonymous, I thought I'd give it another try.

The website I'm presently with had some problems with AT&T and due to their business practices, my emails going through the website that were being forwarded were blocked. They apparently got the problem resolved but never corrected my account. Last year they had me down three weeks and it wasn't until this morning that I've gotten back to getting emails since just after Christmas. It will be no surprise that I switch to another real estate web-hosting company. I have just eliminated my emails going through these companies and I am now getting them directly from Network Solutions. That should have been an easy switch but ended up taking three days due to technicians in other countries not knowing what they were doing. Now I have first hand knowledge of how that system works (or should I say doesn't work).

I can't help but think if those terrorists really wanted to do us in it might be easy going to those outsourcing areas to confuse our internet capabilities. We could be in big trouble. I don't think there is anyone out there that hasn't experienced computer frustrations so now that I've got it off my chest I'll find other more important things to blog about.

Robert Wagner in Yorba Linda Nov. 6, 2009

2009-11-06T22:01:00.001-08:00

I did attend the event at our local Yorba Linda Library to listen to Robert Wagner talk about his book "Pieces of My Heart" and answer questions. He was interesting and humorous. One of his three daughters, Katie an actress in her own right, was also there to ask questions and moderate. Great program. It was standing room only.

He talked about a number of subjects and experiences, starting with being a caddy and seeing Randolph Scott, Cary Grant, Clark Gable and Fred Astaire playing golf together. They all eventually became a part and helped him in his career. He was 18 years old when he signed with 21st Century Fox and stayed with the for 20 years. In those days they took you in and taught you to act and be a star. One of his teachers was Helena Sorrell who he mentioned just died a few weeks ago at the age of 105.

Pink Panther was his favorite movie to be in but he talked about a number of them and experiences he had doing them.

He was a good friend of Spencer Tracey and is on the Board of the John Tracey Clinic which was named after Spencer's son. His wife was instrumental in starting the clinic and made huge advancements.

He said he was reluctant to get into television but "It Takes a Thief" was written for him in mind. He also did "Switch" and Hart to Hart which came out of the older version of "The Thin Man" series and was very popular.

The book is his memoirs and was co-authored with a writer taking 3.5 years to write.

He talked about Natalie Wood. They had their first date on her 18th birthday. They were first married almost three years before splitting. They both married others and then got back together. Katie was from another marriage to a Marion ___, Natasha was from Natalie's other marriage and then they had Courtney. All three girls got along as a family and are still close. He has been married to Jill St. John for 20 years. Natasha is now in Toronto making a movie after finishing a play in New York. Courtney is in the jewelry business and is an artist. Katie continues to do television work.

He answered a question regarding Marilyn Monroe describing her as having great humor, lovely girl, lot of fun, good, courageous, over powered by people coming at her, very vulnerable and a special person.

He also talked about the importance of mentors, including the ones he had listed earlier. Katie mentioned he also is a mentor to younger actors and mentioned Rob Lowe.

It was a great Friday night evening. People lined up to buy his book and get it autographed. He was very obliging and willing to talk as long as those in the audience had questions. Fun. Fun.

Extension of $8,000 Tax Credit

2009-11-06T21:53:00.000-08:00

Washington is hoping to keep our real estsate moving by extending the tax credit and we all hope it works.

The bill was signed into law today. It continues the $8,000 tax credit for "first time" buyers who haven't owned a residence in the past three years. The government even added a new credit of $6,500 to current home owners who have lived i their residence 5 of the last 8 years. This is available to buyers with an adjusted gross income of $125,000 for single purchasers or $225,000 for those filing jointly. The credit is phased out for incomes over those amounts.

The deadline is now April 30, 2010 but if you are in a contract by April 30 you have until July 1, 2010 to close escrow. They are hoping this helps short sales which always takes longer to close, if they do.

We have had so many investors in the market that perhaps this extension will continue to try and help first time buyers have an opportuhnity to purchase.

Yorba Linda Library Info

2009-10-14T20:53:00.000-07:00

I went to our local realtors city caravan this morning and we had the Director from the Yorba Linda Library give us information on what is happening there. It is certainly not like the old library stereotype I grew up with as a kid. Lots happening. They have 1,000 visitors per day. She described it as becoming a social center and programs for different age groups. There were 4,000 in the summer reading program for children. They also have reading programs for teens and adults as well.

I really took note when it was announced that Robert Wagner will be there on November 6 to talk about Hollywood.

They have a great collection of audio books on CD. There are 29 computers and data bases are available by logging in. There is one on car repair and another on tutoring where students can connect with a live tutor. Wow, things have changed. She also mentioned they have a practice for students needing help in getting ready for the SAT test.

She talked about a program called "Battle of the Books" where grades 4-6, 6-8 and 9-12 read 20 books and then there is a trivia competition. They had 600 kids participating.

There is a bookstore in the basement run by volunteers which helps with expenses at the library. Books can be donated.

There is also a room at the library that holds 300 that can be rented for about $35- to $50 per hour. It is usually booked.

Lots of good things happening at the library. Check it out.

November 30 Deadline is on

2009-10-04T12:05:00.000-07:00

First time buyers have the opportunity of purchasing a home and closing before November 30 in order to get an $8,000 tax break. Sounds like a good idea. However, as I've probably mentioned before, there are some pitfalls, especially in our area. Homes under $500,000 are selling very fast. There is still a lot of multiple offers in this price range. Investors are out there and with all cash or a very high down payment, you can't say no to that. First time buyers have been competing with them and they win. That price range is still very "hot". Unfortunately, we are not seeing all that many move up buyers going into higher priced homes. A lot of the lower priced homes are still bank owned properties and short sales. Concentration of these homes are seen in Anaheim, Garden Grove and Santa Ana. We do see a few in North Orange County and, of course, they go very fast. Those in the real estate industry are hoping Congress will extend the credit to encourage more first time buyers to buy and allow the ones to buy that are being out bid to hang in there. Once we see these distress properties gone, we'll see a normal marketplace. So many have lost equity, that it is still a difficult situation.

How do you get your way?

2009-10-04T11:59:00.000-07:00

There is a book entitled "Little Green Book of Getting Your Way" which sounds like it would be a fun book to read. It is written by Jeffrey Gitomer and might be a fun book to read that could provide some insight. It sounds like a good book for sales people but I know others would benefit as well. Things I've heard within are "Getting your way is the gateeway to getting what you want," "To get your way, you have to be able to convince others. To get your way, you have to be able to influence others. Getting your way is not just about you. Sometimes geting your way means letting the other person have it their way as well." It has been recomended so who knows, I might even buy it.

UCLA's Economic Forecast for Orange County Seminar

2009-10-04T11:52:00.000-07:00

Anyone interested in a forecst view by UCLA? They are having what is called an Orange County Economic Outlook for 2010 in October 29, 2009 at the Hyatt Regency in Irvine. The keynote speaker is Ramin Toloui who is Executie Vice President of PIMCO. They will be asking the questions relating to the end of the recession, will California miss out on the 2010 recovery and is the Orange County economy still in a recession among many other topics. Sounds good and for $165 registration you can hear the answers. Unfortunately I know I'll be busy that day so will have to depend on other reports. I've learned that attending these events the reporter does not always hear what I hear. Sort of selective reporting so I will have to keep that in mind as well.

HR 3200--Federal Health Care Bill

2009-08-25T22:20:00.001-07:00

I just attended my local Town Hall meeting with Congressman Gary Miller. It was held in the East Room of the Nixon Library and the room was packed. It started at 7 PM and when I left after 9:35, there was continued discussion. He said he would stay until all had an opportunity to express their views and I think he did.

A handout was available on items in the bill and he had two copies of the bill for anyone wanting to review it. With over 1000 pages, I didn't see anyone sit down to look at it. There were five pages of the summary and it generated a lot of interesting thoughts, from both sides of the aisle.

A few topics were: Does not require proof of citizenship to obtain health services, requires that if one family member is covered (by birth), all members are covered and requires free translation services.

A government committee determines what benefits are available--like treatments, drugs, devices, etc. and private insurers are forced to comly with new coverage and underwriting rules. There is another section that provides shelter from judicial review--you can only sue the government plan in federal courts.

It also discussed new tax on health insurance policies, a 2.5% income tax increase on individuals without health insurance, tax increases, etc. There is an 8% payroll tax on employers who can't afford to offer health insurance to employees. And--$500,000 fine and $100 a day on employers for providing "Insufficient Coverage."

If the government commission determines abortion is an essential benefit, providers would be required to pay for abortions. Lots of questions on implementation arose.

Another section still in the bill as of today is "Advanced Care" or "end of Life Care" counseling for seniors. You get the general idea.

After the review of the above sections, plus a number of others, there were comments from the audience. It was a general concern that we are spending money we don't have. The bill would not go in effect until 2013, after the 2012 election. As another person stated, government doesn't do anything better than private enterprise which made him nervous. Yet another comment from the Mayor of La Habra Heights said progress wil stop when government gets involved and it won't work. We have made great advances in the medical profession which may not stop. He said we don't need a shotgun approach when a few areas need fixing.

In reviewing some of the contents, there were a couple of comments made concerning certain constitutional challenges such a bill might have. Yet another individual made the comment that government created the problem and now it is leading us closer to the path of socialism. Strong comments were made that an alternate plan is needed.

So much more, and it was an interesting discussion.

Best "Walking" Cities

2009-08-18T20:51:00.000-07:00

Prevention magazine along with the American Podiatric Medical Assn. and Sperling's Best Places, have come up with the best cities for walking. On top is our own state's San Francisco. Four others on the top of the slate include Boston, New York, Philadelphia and Chicago. These groups used 19 criteria categories such as population density per square mile, use of mass transit, crime rate and square miles of public parks. I've been to all but Chicago and have enjoyed every one of them.

"Sticky States"

2009-08-18T20:47:00.000-07:00

I found this of interest in the recent issue of my CRS (Certified Resiential Specialist) magazine. It was said that 3/4 of adults born in Texas still live there. They call tha the "stickiest" state. On the other side it was stated that only 28% of Alaska's natives still stay in the state. This is according to the Pew Research Center. This research center said the most "magnetic" state is Nevada which attracts 86% of its residents from other states. Not surprising is that New York is the least magnetic with just 19% coming from other areas. California, which is traditionally viewed as a popular draw is now 28th in magnet standings. I guess we've scared them away.

More REO BofA Info

2009-08-12T21:00:00.000-07:00

Following up to to my recent post, I looked at my notes and just had to add a few more things. The other post was so long that I knew you needed a break.

Dr. Choi made the comment that the majority of foreclosures were coming from brokers that had worked with the banks (as opposed to their own company lenders). Mortgage fraud was not apparent until 22 months after the fact. It is still hard to determine if fraud was intential or not and there is a lot being reviewed. The bank has hired some retired former FBI agents on their staff.

A question was asked about borrowers having to be subjected to deficiency judgments--paying the money back. It was stated the bank does not, at least at this time, have the resources and costs to go after them. Besides, the owners who have lost the property will not have the resources to pay anyway.

It has been researched and stated that the $320,000 price range is where most of the high multiple offers have been generated. I certainly have found that true in Orange County, specifically in Anaheim where I have been looking with clients.

When a property has a tenant in the residence, the new owner has to wait 6 months before he can evict them. The banks look at loans wehre the buyer is to occupy the property. They are not looking at risky products but are, instead, wanting to expand their jumbo loan product.

He also made the comment that if and when wholesale lending comes back, it will be highly regulated at Bank of America. That is no surprise, says me.

Also interesting is that when they work with negotiating companies, Acorn and Neighborhoodwork are there. The success rate on negotiating short sales with Bank of America are very low.

As I said in prior post, this was a great meeting. It was a lot of good information but it is only accurate as to the time it was said. This industry and waht is happening out there is in continual change. None of us have seen anything like this and we all have a lot of stories and new experiences in trying to help buyers and sellers.

B of A Bank Owned Properties

2009-08-12T20:41:00.000-07:00

Last week I attend a great meeting sponsored by the organization Certified Residential Specialist (CRS) to which I belong. Their speaker was Ivan Choi who is the manager for the bank's REO (real estate owned) properties. He was very entertaining and had a lot to say. There is a great deal of frustration when dealing with banks who own the foreclosed properties. Each bank can handle them as they prescribe. It is just as frustrating for them as it is for realtors trying to put transactions together.

He stated the NODs (Notice of Default) are at the highest level ever. At present the REO inventory is at the lowest. This will change. He assured us that the bank wanted to sell these properties as quickly as possible and do not hold them back as some have speculated.

I thought it was interesting but not surprising that 68% of those already having new loan modifications have gone back into default. Are you surprised?

He was suggesting there is still a tsunami in the future coming. He said the moratorium ended in March on foreclosures and the flood gates have been opened. Courts are being over run and the system has slowed due to cutbacks even courts are dealing with.

In the beginning there were about 70,000 REOs across the country. Now there is less than 40,000 but he suggested in the next 9-12 months it will be back up to 70,000. I asked about what this means for California, specifically Southern California. He said we had about 7,000 and are now around 3,500 but another 7,000 will be coming our way. There needed to be some clarification as some areas, like the Inland Empire, is being hit hard. In Orange County we are still seeing a large number coming on the list from Anaheim, Garden Grove and Santa Ana. Fortunately, North Orange County should not have a large number.

He had so much to say and we got a lot out of it. He gave a the nuts and bolts type of how things happen. I thought it was interesting in that some of their staff have had calls from Congressmen requesting certain real estate agents be assigned these listings. These politicians seem to have their hands in everything--that's me saying that, not Dr. Choi, but it's true.

He gave his own opinion, not the bank's, that he thought we were not at bottom yet (and I've heard that from other lenders) but he felt it may take another 5 years to turn around. I certainly hope not. Remember, that is his opinion and these experts have been wrong before but he does have access to things we don't. He felt values would continue to come down. (I wanted to talk to him more about appraisals making that happen but didn't have the opportunity).

Appraisal Problems

2009-06-29T16:53:00.000-07:00

In a recent meeting I have been in with experienced agents, we all had similar stories relating to the appraisals that are coming in on our listings. It is not unusual for prices to be off $40,000 of $60,000. Many appraisers are only looking at distress properties and using the lowest form of closed escrow prices to make comparisons. I had this on one of my listings. We had multiple offers and within two weeks sold it at asking price. The appraisal came in almost $40,000 low. The Yorba Linda home sold at $539,000 and the appraisal came in at $498,000. That is the price of some condos in our area. They used a majority of short sale prices. They used one active listing to verify their findings and it was an active listing that was scheduled to go to auction and had been listed low to begin with. Incredible.

To keep the sale together both buyer and seller had to make concessions. It is not fair to either party when the lenders are purposely trying to keep prices low. In a lot of multiple offers you are finding some agents coming in with really high prices in order to get it accepted only to adjust later on because the appraisal is low. That's the monthly analysis of what is happening right now. Of course, next month they could do something to change all this. There are enough people making complaints so perhaps adjustments will be done. This is not only happening in our area, but in other parts of the country. Anytime you put the government in charge, it usually doesn't work and this is another example of how their good politically inspired intentions create more problems.

First Time Buyers vs. Investors

2009-06-29T16:30:00.000-07:00

I'm a little behind with my updates but with everything happening so fast it's hard to know where things are going. I can give you a pretty good feel for what has been happening in our local real estate market.

If you are looking at a lower price home in Anaheim or Fullerton, or even Orange, there are incredible multiple offers being made. One newspaper reported a home in Anaheim had 63 offers. I showed that same home to my client but we knew there would be far to many offers to even try. It is not unusual for bank owned property, as well as regular sales, to get 10, 15 or 20+ offers. FHA tried to help first time homebuyers and offers a $8,000 credit. Now that everyone is reported we have "bottomed," investors are out there with cash and you can't blame the seller for wanting a sure thing. It's been very discouraging for the first time buyers that really want to own a piece of America.

Due to banks being told they have to put a hold on repos and try to help owners stay in their homes, we are now seeing a smaller number of bank owned properties come on the market. Banks are recognizing it is more cost efficient to look at short sale situations and that may improve. At least right now there is a shortage of inventory and that will perhaps temporarily help prices to increase.

Homeowners should be careful of those advertising as loan modificaton companies as there are a lot out there creating fraud and taking people's money. There are only about 640 companies in California that have been approved to do that kind of negotiating. Be careful.

What Happened to Govt. Help Programs for Homeowners?

2009-05-26T14:08:00.000-07:00

I learned in a recent report from our California Association of Realtors that the law first beginning in October of 2008 intending to help 400,000 distressed homeowners refinance some of their loans have only helped one family stay in their home. That was the success generated in the first seven months of its existence. They are trying to make changes but all these government changes are expensive and appear not to go where they are suppose to.

In another program that is suppose to help first time buyers with a $8,000 credit, there has been some confusion whether or not buyers can use them as part of their down payment. On the same day, the government issued conflicting statements. Some people like change, but I'm observing change if its government directed isn't always exact and can be quite expensive to everyone.

Take a Trip to the Huntington Library

2009-05-26T13:57:00.000-07:00

No, the Huntington Library is not a place filled with books. We did find a very nice library room in the main building where you see an incredible selection of artwork. However, the main feature of the property to see are gardens. Lots and gardens. The new Chinese garden area recently opened and it was wonderful--more than we expected. We even stopped and had some tea while we overlooked the pond with Chinese architectural buildings. Then you have to go to the Japanese garden section. We loved the bridge and the beautiful setting that was created. The roses were in bloom and were beautiful. If you have time for tea, it will be an experience in the building in the rose gardens. There is a very open area that has called the Australin section and another with picturesque lily ponds with coi fish and turtles. After walking through the dense jungle area we proceeded to the desert area and was pleasantly surprised. Beautiful dissplay of mature cactus, some in bloom. It would make you take another look at the desert areas of California. It was spectacular and very colorful.

There is much more to this beautiful area. It's been years sincer we have been there and we were impressed with the additions. If you haven't been lately, put it on your list. And, if you go on the first Thursday of the month, we learned there is no charge. However, if you want to go for tea, it is recommended you make reservations. Victoria in British Columbia have their beautiful striking color gardens at the Burchart Gardens and we are fortunate to have the Huntington Library in Pasadena with garden creations that are spectacular in their own right. Go and enjoy. I plan to go again soon and take others to rediscover what I found.

Disneyland on Your Birthday!

2009-05-24T19:34:00.000-07:00

Did I tell you what Disney is doing? Go to Disneyparks.com and sign up for your birthday. By going to the park you can enter both parks free that day or, like I did, you can buy a yearly pass at a discounted price. It's a good deal. I took an afternoon and had a great time. Even got on the big roller coaster in California Adventure. I do have to warn you there are blackout days that you cannot use your pass--like weekends and all of July, etc. I don't think I'd want to go in July with the tourist when it's so hot anyway. You should check it out.

Buyers Are Out There

2009-05-24T19:29:00.001-07:00

It appears everyone is paying attention to the media that is starting to report we could be at "bottom." On the new repo homes coming on the market, it is not unusual to find 10-15 offers being made on the lower priced homes. I even had one agent said offers were being submitted before agents had previewed the property. Wow! This happened years ago. The interest rates are low, first time buyers get a $8,000 tax credit and prices are still down. It's hard to get them up when the lenders are still being very strict on appraisal guidelines. I've heard Orange County will be the leader in the turnaround, and here we go.

I had a listing on the market for less than $550,000 and within two weeks we had multiple offers. Last year it would have taken much longer to get things going.

We know there will be more bank owned properties coming on the market. However, you will see this foreclosures coming from San Bernardino, Riverside but not all over Orange County. You can still expect them to be in Santa Ana, Garden Grove and parts of Anaheim. While we may have a few in North Orange County, it isn't expected to be like it was.

There is a definite upward movement--just thought you'd like to know.

We May Be At Bottom

2009-04-28T14:34:00.000-07:00

Forecasting is interesting. It's a guessing game to see who comes the closest. Our recent forecasts change from month to month. The news reports are more optimsitic than I've seen in a long time. This has been the worst recession since the Great Depression but everyone is optimistic that we will see reports that it will be over in the third or fourth quarter this year. I concur.

Banks are starting to feel comfortable in lending money--and we desperately need that. We have seen an increase in sales in our county these past few months and the majority has been with foreclosed properties. There is a 90 day moritorium of putting new bank owned property on the market. That will slow down sales for a short time. The banked owned properties being snatched up are getting 10-15 offers. During the summer there will be an increase of these properties and we will probably have more buyers out there. Investors with cash offers are already on the scene making it difficult for those first time FHA buyers to purchase.

A positive for buyers is that we have gone back to the 2002-2003 values and the interest rates are at a 60 year low--like 4-5/8 with 0 points. How good is that!
It has been analyzed that it is better to buy than rent at this time due to the tax advantage. Buyers do need some kind of money to buy--you can't charge everything.
Other news reports are saying our prices are 13.7% under market price. That should tell you something.

If you want to buy at bottom--don't wait any longer. The worst is behind us and prices have appeared to have bottomed out. Yes, there is a 10% unemployment factor which means 90% are working. Sales have been very little in new sales. Know why? They stopped building houses when the demand slowed down. Now they have buyers and no houses. You get the message. Orange County is still one of those places of high demand that people want to live here. We will continue to have adjustments, but home ownership is wonderful and this area has lots of opportunities.

Yorba Linda Earthquakes

2009-04-28T14:20:00.000-07:00

We made headlines again. Last year it was the 5.8 July quake and then November 2008 we had the wildfires that evacuated almost half the city. This time we faced more earthquakes. The first one was a 3.8 on Thursday, April 23. I was in Brea at the time and felt the rolling sensation. I stopped by the office and once again found some of my trophies on the floor telling me I had things happen at my house. My neighbors said it was a definite jolt. Yes, I did have more broken glass items but not the damage as before. There was still things to be picked up and repaired. I had a que of items that needed to be glued together. I didn't find a lot fo new interior cracks but the ones already there were slightly expanded. My front door continued to have an open where daylight comes through. The added weather stripping won't help this time. All my immediate neighbors reported more interior cracks. One neighbor had a large exterior decorator wood beam ready to fall.

The news reported no major damage, as they did last time. Only last July one of my former clients in Eastlake told me of over $80,000 in structure damage. I guess that isn't major damage to the city. If there was significant damage, they aren't talking. I'm glad everyone was okay except for our nerves. On the two significant after shocks of 4.0 and another 3.0 or 2.6 (depending who is reporting) the next day, it did give cause for caution. Once it starts you always ask yourself--is this the big one they keep talking about. It's so good when it stops. These were centered in Yorba Linda and now I know how much more it shakes when you are sitting on top of them. I think we've had all the excitement we want for our city.

Yorba Linda Tax T.E.A. Party

2009-04-17T19:11:00.000-07:00

Yorba Linda joined the rest of the nation in speaking out against more taxes. For so many years taxpayers have accepted increases on what they have been told are essentials needed in government. From the voices being heard, many no longer believe their hard earned tax money is being spent wisely, for a number of reasons. The media estimated there were about 500 at the April 15 rally at the Yorba Linda Community Center. I don't count numbers but that is probably correct. The event was set from 4:30 to 7:30 but didn't really start until around 5. It was good hearing so many voices in unison sing our national anthem, respect the prayer being said and salute our flag. There were at least 8 speakers on the podium. Cars driving by loudly honked their horns in support. At least at this end of the county the silent majority spoke out and waited in line to add their names to a list to know more about what they could do to reverse the direction of our state and nation.

Home Fumigation/Tenting Experience

2009-04-03T16:41:00.000-07:00

Yes, we had termites. A couple of years ago I found signs coming from a baseboard. Since we weren't going to move we did a patch job but they showed up again and were actually coming from the middle of the wall in our bedroom. Time to take action. I scheduled the tenting and decided I would go through what so many of my clients have done when they have to have their home tented before being able to sell it.

I feel very good that my house is now bug free but it was a hassle. Like most of my clients, I was apprehensive even being told there would be no chemical residue. Our cat had two days of boarding which she did not like. She is 18 years old and does not like change.

I didn't need to take all food items out of the house, but I did. That was a lot of work and in looking back, I could have bagged more in the refrigerator instead of almost emptying it. Luckily we stayed two nights at my neighbor's home while she was out of town so that part was very convenient. Even with all the food next to us in her home, we still ate out.

My main concern was someone would break in the house while it was being aired out. That, too, was not a problem. I was there when they opened the house up and they were there working for a good hour before locking it up again and securing it so noone would have access. It is strange to see someone in my house in a gas mask. The next morning they came back to check for gas to make sure it was safe to go in, which it was.

In the process one of our sprinkler pipes was broken and they promptly did the repair. We have a cement tile roof and thought the worst would happen. We did have 23 broken tiles which is suppose to be minimal for that type of job. That, too, is fixable and a roofer will be back next week for the repair. We survived after all.

Internet Usage Info

2009-04-01T15:10:00.000-07:00

These were kind of fun statistics put together by the Pew Internet and American Life Project from those using internet and e-mails in ther jobs. Nearly 2/3 of adults use this medium in their jobs. They also reported that 96% use cell phones either at work or in their personal lives.

80% say technology has improved their ability to do their job.
73% say it has improved their ability to share ideas with co-workers.
58% say it has given them more flexibility in the hours they work.

On the other side of that coin--
49% say technology has increased the stress level of their job.
49% say it's harder for them to disconnect from work when at home and on weekends.
46% say it has increased the demand to work longer hours.

State with Highest Property Tax

2009-04-01T14:56:00.000-07:00

We probably think California has one of the highest property taxes but one of my trade magazines identified New Jersey as being the highest. They stated New Jersey has an average per-capita tax for residents and business owners ata $2,642 or 4.88% of the state's average income. Following close behind is Connecticut, New Hampshire, Montana and New York. The lowest were Alabama and Arkansas.

Another statistic were the states with the best tax climate for businesses: Wyoming, South Dakota, Nevada, Alaska and Florida. Those ranked at the bottom were Rhode Island, Ohio, California, New York and New Jersey. I guess that wasn't a surprise after all.

New Yorba Linda High School

2009-04-01T14:42:00.000-07:00

A few weeks ago we had the new principal of Yorba Linda High School talk to our realtors at the weekly caravan. It was very informative and this high school has been needed for many years. It is located on Fairmont and Bastanchury and is scheduled to open this coming September with abot 800 Freshmen and Sophomores. Dave Flynn is the principal and has been in the distirct for many years with good experience and credentials to help put this together. It will ultimately include grades 9-12 accommodating up to 1850 students. In a later phase there will be a 5,000 seat football stadium on the west side of the campus. I think we can all look forward to this high tech facility. If they have a community open house, I would encourage you to attend as I am anxious to see the finished product.

Short & Long Term Forecasts

2009-03-12T16:28:00.000-07:00

This afternoon I went to a meeting of Tarbell agents where Robert Kleinhenz, Deputy Chief Economist of the California Assn. of Realtors spoke to those in our company. Up front he stated that new information is coming in weekly so trying to forecast short term is very difficult. He did have some projections, but he was quick to say they would be changing. Long term we all know that it will improve but probably not until later in the year.

I have three pages of notes but remember him saying this is the worst economic downturn in our life time. I think we are all agree with that. He reinforced what we have been hearing in the media concerning how all of this happened with the mortgage and construction jobs failing due to our finance and credit problems. He made the comment that a lot of homeowners used their home equities like an ATM machine. True.

We need unemployment to turn around but projections are it may not peak until late this year or next. In California we are seeing uneployment at 10.7%. California's economy has fundamental strengths so let us hope that holds. Inflation will not be a problem from where we are right now which will help keep interest rates down.

Another bright side of the California housing market is that the last couple of months sales have been up. In our county the distress sales were 44.1% of the total sales ratio. The homes under $500,000 are selling, the move-up homes from $500,000 to $999,000 are down and those over a million are stagnant. At least we do have homes selling. In Orange County the median peak home value was $747,260 and now it's $423,100, down 43% from the top. Another positive note is that home contracts are up 136% over the prior year. The first time home buyers are now in a position to buy with prices down and interest rates low and incentives by the government with tax credits.

Another interesting statistic is that in Jan. of 2008 we had unsold inventory that would last about 21.5 months. In December of 2008 it was 7 months. As of January of this year it is 9.9 months. These figures are not supose to include distress sales. He also mentioned that in the 2nd or 3rd quarter of this year we may see another peak in foreclosures. In other states it may hit later but that should be the last big hit. Let us hope these homeowners can work things out with their lenders.

There were many more issues discussed but it's all wait and see. This is the guy I heard a couple of years ago I was so impressed with and used his forecast to make comparisons from others. He would have been right except for the nose dive we all took. He stated there is expected to be a 16% gain in sales projected for this year and they are hoping that will be revised upward. Have to leave on a positive note.

Consideration in Condo Financing

2009-03-01T19:45:00.001-08:00

There are a number of special provisions lenders will review in deciding to grant a loan for a condo.

If the loan is a Fannie Mae loan, the development must be at least 51% owner occupied. Additional rules apply if it is an investment purchase. There must be no pending litigation and there is to be no more than a 15% delinquency rate on homeowner dues. And, as before, the budget must have adequate reserves.

In order to get a FHA loan on a condo, the development must be on the FHA's approved list. How do you know--ask your lender up front. While some of the same requirements are required as in a Fanne Mae loan, there can be no more than 10% of existing FHA loans in the community.

It is always good to get pre-approved with a lender before looking and let the lender run checks on properties of interest before making an offer. I can't over-emphasize how important a good lender is in helping you get the property you want. It is heart-breaking to be a week away from closing and then be told from an inexperienced lender that you don't qualify. Might also be expensive, too.

New Rules on FHA Loans

2009-03-01T19:29:00.001-08:00

The loan amounts in Orange County for FHA are also $729,750. In this loan there is a down payment required of 3.5% which can be gift money. There used to be special California loan assistance but with the state out of money, don't even think about it. There is the same "special" High Balance rates and rules for loans over $417,000. In this loan the buyer will need two appraisals but it is okay for the Seller to give a credit for some closing costs which helps the Buyer purchase.

In this loan, a co-borrower who will not be living on the property is allowed which may help the buyer to qualify. Manufactured housing is allowed as long as it is on a permanent foundation. There is also a 'forbearance provision' in FHA loans allowing the payment to stop for up to 18 months in certain qualified distress situations that might be available to help keep the property from going into foreclosure, as long as the borrower continues to at least pay taxes and insurance. There is a mortgage insurance premium that can be financed into the loan, in conjunction with a low monthly insurance payment.

There are many more "what if" situations and, again, I would suggest you contact a good lender for accurate information. Some homes may not meet FHA standards and the house may not qualify. Lots of stuff to consider. And, if you are a Veteran, great programs available there also. There loan limit is $737,500 in Orange County.

Current Guidelines for Fannie Mae Loans

2009-03-01T19:16:00.000-08:00

With lending policies up in the air and changing, it has been hard to relay any factual information. We never seemed to know what the lenders would do and they were always making changes, sometimes even when loan approval was given. You just didn't know. Now there is something a little more concrete to look at--for now.

Obviously, lenders no longer are making 'stated income' loans, where the bank took the borrower's word on their income without even verifying it. Everything has to be verified in this current loan climate. New FNMA ("Fannie Mae") conforming loan limits in Orange County were increased to $729,750 as of February 18th. Virtually all conventional lenders follow these Fannie Mae guidelines. Of course, you have to continually read the fine print. Loans over $417,000 but under $729,750 are considered "conforming high balance" loans and wil probably have higher interest rates and rules.

If a buyer has had a foreclosure, there is a minimum 5 years from the date of foreclosures to apply for a loan. (You can apply for a FHA loan after 3 years). If the buyer has been out of a foreclosure for 5-7years, he/she must put down at least 10% and have a 720+ credit score. These are strictly for owner occupied homes in the first 7 years. For more information on qualifications, I recommend you contact a good lender. If you would like more information as to your specific situation, or just want more general information, give me a call or email and I can recommend lenders who know what they are doing and can provide accurate information. There is a difference in lenders, just as there are differences in real estate agents.

Opportunities Are Out There

2009-03-01T18:58:00.000-08:00

I've been told the new message for 2009 is "opportunity." The changes in the near future are suppose to help expand those opportunities for new buyers. Changes being considered are suppose to lead towards our housing recovery. I recently heard that Riverside is now down to 4 months of inventory. Although more is obviously coming, it is felt these will be absorbed which is what we all want to hear. That's sure a lot better than last year.

Not everyone has been affected by the recession and those that are able to make purchases are being told this is a good time to buy. I am seeing more activity in our own area to support that assumption. Our open hosues have been very busy and lenders are saying they are taking more loan applications for qualifying. I've been waiting for good news for a long time so let us all hope this trend continues.

A Lesson in Statistics

2009-02-20T12:41:00.001-08:00

This is a good one. Lots of companies and agents like to say they are #1. I have not taken a statistics class but those who have say you can get what you want by manipulating numbers. I saw a classic case a few weeks ago in our own local area. I get recruited by other companies on a regular basis, as do many of us. This particular time I was shown a graff how this particular company is way above all the others in our area for sales and Tarbell was almost at the bottom. That was a surrpise as I know for a fact that our office does quite well. Last year our individual office was number one in the company.

If you look at how they did it, this particular company used statistics from combining a couple of their offices in different areas where they had been successful and compared it to a Tarbell office that was not even close to our area and certainly was not our office. Total fabrication. They made themselves look good but was totally misleading. If they show that to potential clients it would look impressive, but not true. Be careful. If certain companies are using that tactic to get business, how honest are they going to be with their clients in representing them.

You wonder why there isn't lawsuits on such false advertising. The response I've heard is that once you take on that challenge, the only winners are the attorneys. Our job is to sell houses and that's what we do best.

Is the Stability Plan Stable?

2009-02-20T12:11:00.000-08:00

Good question and I don't have the answer. Lots of talk on the recent housing phase of the overall stimulus plan. I can't tell you how many reports I've read and hesitate to repeat what is already out there as most of you have already read it. I've seen the official White House four page outline but you wonder what it all means and when it will start.

They have said housing must receover for the economy to progress but I say buyers must have jobs so they feel secure that they can purchase a house. I remember saying those words last time around.

One aspect to encourage buyers is that there will be a $8,000 tax credit for first-time home buyers that buy in 2009 that does not need to be repaid. This reduces the purchaser's income tax liability. To be considered a first time buyer, they have even defined that as someone who has not owned a home for 3 years. Don't you love the way they make a statement but they give their own definitions. Maybe that's why it's not easy to understand what the government is really saying.

I am hoping there will be some good of their plans to bring payments to affordable levels to those that are at risk of foreclosure. Again, you wonder what kind of definitions the government will use to create its own selectivity.

New York Broadway came to Orange County

2009-02-13T08:38:00.000-08:00

Every year Tarbell, REALTORS has an annual awards celebration and all the stops are pulled when it comes to planning the program. Each year the show is even more incredible than last--but topping Michael Crawford singing songs from Phantom is still one of my favorites. On February 12 the company closed down (well almost) to go to the Orange County Performing Arts Center for an extraganza. Shirley Jones started the show singing but was also the one introducing various show segments which included presentations of song and script from Oklahoma, Sound of Music and Flower Drum Song. Each segment had a variety of Broadway stars cast just for our performance. The last part of the four hour show highlighted stars like Brian Stokes Mitchell, Laura Bell Bundy, Hugh Panaro, Susan Egan plus so many more. It was truly incredible and we were spellbound. The grand finale was Nita Whitaker singing "You'll never walk alone" as only she can do it. The stars were out for Tarbell agents. Rodgers & Hammerstein would have been proud.

Computer Hints

2009-02-01T22:50:00.000-08:00

I have recently learned there is an email going around inviting you to open and join something called "reunion." Don't do it. At a recent meeting, I was told once you open the site, it will go into your address book and indicate you are inviting everyone to join this reunion site. I'm not sure where it all goes, but if you get it, delete it.

There is a new video recorder that is on the market that is incredible. It looks like a cell phone but you can take videos and just plug it into your computer to download. I like those super simple devices. I have been paying a very expensive service to take virtual tours of my listings and now I should be able to do it myself. One is by Kodak called the zi6. It is new. I went to Frey's and they had it in the back room but not on display. Check it out on Google for prices. You can find it under $200.

There is another digital HD camcorder called Insignia that is suppose to do the same thing and is on sale at Best Buy for $129.96 which includes the bundle with the mini-tripod. I'll be checking this out this coming week. It almost sounds like I know all about this--but I'll be learning more soon. I still feel I'm on information overload. By June our office is suppose to be paperless so I've got more info classes coming. Will it ever stop? I think we all know the answer to that one.

Thoughts on where we are with Real Estate

2009-02-01T22:33:00.000-08:00

There is still no agreement on when home sales will increase but when you look at the numbers, people are buying. As I've mentioned, there is a lot of activity under $500,000 in our area. However, I was doing some research on homes between $600,000 and $700,000 in Yorba Linda and found that in the last six months we have seen the number sold pretty much equal with the number of homes being Active on the market. That's good. When you go back six months there were more sales in September than other months, but I'm seeing more Sellers starting to accept offers and go into escrow. The majority of homes have been distressed sales, unfortunately. However, within that price range, I only saw two Active distressed homes. If we don't get bombarded with more foreclosed properties, we are looking good.

Some "experts" say we are going to have a good year and others say it won't happen until later in the year. If we aren't at bottom, we are awfully close. Good properties still sell fast, but buyers have high expectations. As we continue to say, it is a price war and a beauty competition at the same time. Sellers are competing for those buyers and their homes have to look great and be priced at market or just below to entice that buyer into making an offer.

Along with this we are continuing to hope lenders will be able to provide loans for buyers. We watched huge sums of money supposedly going to the financial institutions thinking they would help buyers. From what I've read, they helped themselves recover and had no money to lend. The money given, so far, hasn't done a lot of good to get where it needs to go. With interest rates being so incredibly low, I know buyers want to buy and there is a huge pentup demand for homes. When it happens, I'll be busier than ever. I'm practicing patience right now.

Facebook Experiences

2009-02-01T22:20:00.000-08:00

I'm new to Facebook and it's been an interesting journey so far. We have all heard about it so I slowly slipped in to see how it works. My only concern is the time I may be spending as it can be very addictive. One of my former clients in Michigan asked me to join and I thought it would be interesting to see how he and his family are doing. I've learned so much about him from a personal aspect instead of the professional side. I have connected to other former clients, one living in Costa Rica and instead of wondering what she is up to, I get a sentence or two and know about her wonderful adventures--like recently in Peru.

I have also connected with a former high school classmate. We got off Facebook and exchanged regular email addresses and phone numbers and we really did talk for about 4 hours during a weekend. We had a lot to catch upon.

Due to my quilting interest, I added a former US citizen now retired in France who quilts and we have exchanged information. I am truly amazed. So far it's great with good experiences and contacts. Want to join my list of Facebook friends? Let me know by regular email--charline@charlineberg.com.

Yorba Linda Yogurt Shops

2009-01-22T15:19:00.000-08:00

There is more!! I've already told you how much I like the Yogurt shop in Fullerton and now there are three more in Yorba Linda. Can you believe that! The one I've been going to is next to our office (actually across the parking lot from Blue Agave) called Yogurt Mania. Great selections. My grandkids got gift certificates for Christmas as they love it, too. I tried a new one in the Yorba Linda Packing House area a couple of weeks ago called Frugo's. They had a lot of covered toppings with great yogurt flavors. I love the melted marshmellow topping and recommend trying it. It's right in back of Chili's. There is also a new one called Yogurt Town on Bastanchury/Imperial. All were so good that I'll have to go back and check them out again. Haven't made my number one choice. The ones in Yorba Linda are all .35 cents an oz. Even when it's cold I'll eat yogurt. Enjoy and let me know which shop is your favorite.

In and Around Yorba Linda

2009-01-22T15:03:00.000-08:00

February 5 the Placentia-Yorba Linda Unified School district will be having an education forum led by Superintendent Dennis Smith for his "State of the School District" discussion. It will be held at the Yorba Linda City Council Chambers from 6 to 8 PM. It is my understanding that the district is to decide on the new high school boundaries sometime next month and I'm sure that will be a topic. I plan to be there and if I learn anything great, I'll let you know.

February 11 is another meeting date. There will be information to help homeowners learn how to protect their homes if they ignore evacuation orders if and when we have another major fire. This may be good for those in the hill areas to think about attending. The fire authority has another concern and that is if too many stay behind, they may have to help save them instead of fighting the fire. That meeting will be at the Yorba Linda Community Center starting at 6 PM. There is to be an instructional video, general information and vendors with equipment on how to help fight fires.

Anything Happening Yet?

2009-01-22T14:52:00.001-08:00

I've been waiting for something good and exciting to say about real estate, but I'm still waiting. There is still so much in the air and I don't like any of the news reporting. They still look for the negative in reports. Realtors need new housing starts so that those in their current homes will move. Builders are waiting. There are a lot of buyers wanting to buy, but with all the layoffs, everyone is on hold wanting to make sure they have a secure job. You can't blame them for that. I haven't heard the latest on lenders wanting to lend. Getting those loans have been a problem. The government bailout was suppose to help lenders provide money to get things going but I don't think we know what they did with it. Bank owned properties are being sold so that is a positive. However, prices on those homes have continued to go down. Our sales board is still active but it's first time buyers and properties at the lower end of the price scale. Those move-up homes are not going quite as fast. Perhaps it is because a lot of the upgraded homes have been taken off the market.

I did talk to one lender who said he is seeing more buyers starting to get pre-approved for purchase so that's a positive. I don't know who gives the green light for buyers to make decisions, but it's time. We have all read what a wonderful opportunity it is now--both with prices and interest rates. Later we will look back and say, yes--that's when I should have bought.

More of the Same

2008-12-28T13:26:00.000-08:00

In a normal market we seem to slow down at the holidays and then pick up in January. This is not normal but it could result in the same procedure. Also, during an election year, everyone waits to see who is elected and then business resumes as usual. Again, we are not in a normal situtation.

We still have an over abundance of short-sale properties on the market. The bank owned properties have been on hold but we should start to see them back on the market soon. I did a search for a client in Anaheim Hills between looking from $575,000 to $700,000. Out of the 18 properties with over 2300 square feet, there were 18 listings and 8 were short sales with another bank owned property that just came on the market and one corporate owned. One home you could not see (drive-by only if you can believe that) and the others normal sales. However, when you looked at locations, a great many of those backed to a busy street. Legitimate buyers do not have a lot of normal inventory in good locations to see. That could be another reason there are not a lot of sales. Short sale properties compete with each other and they continue to bring prices down for everyone.

On a more positive note, interest rates are expected to be the lowest ever next month. IF you can find a decent property, what a great time to buy! Lenders are going to be overwhelmed with inquiries to refinance loans and you may want to contact yours to see if you qualify when this happens.

Once the new Administration in Washington takes over, let's see what develops. I think a lot of people are waiting before they leap to see what will be available. I'll still be around so let me know if I can help. I'll continue to update you on what I am hearing.

Tis the Season

2008-12-17T19:43:00.000-08:00

I have not forgotten my blog, just didn't quite know what to say. No one knows what direction we are going from here. I talk to a lot of people and they aren't ready to make a commitment of what they think is next. We are in such a transition. Properties under $500,000 are still being sold in our area. Not much has changed there. It's those properties in the middle that are stagnant.

We read about banks going under, major industries near bankruptcy, Mexican drug cartels spreading crime this way, earthquakes, fires and it does get depressing. Everyone seems to be struggling. Even though interest rates could be at 4.5%, buyers won't buy unless they are secure in their jobs that they can afford to do so. That's the way it was in the early 1990's. Good deals are there but it's important to be able to meet commitments and a lot of people are a little nervous about what the future holds. I think once we get through this we will remember this time period for a long time.

In the meantime, life goes on. I refuse to let all this negative information suck me in. We still live in the best country there is and have freedoms that others can only envy. We have wonderful homes, clean cities, food on our tables and a whole lot to be thankful for. Perhaps some of this will make us think of all the extra things we do have that others living in foreign countries will never have (and be jealous and resentful to us because of it). At times we have been extravagant and wasteful and now many of us have had to tighten our belts. That can't be all that bad. Instead of planning trips abroad, perhaps it is time to look around and enjoy some wonderful places just a short distance away.

This Christmas season offers lots of opportunities to reflect, help others and enjoy where we are. My kids won't remember gifts that were purchased, but they do remember places we have been together. Therefore, create those memories. If you haven't already, plan to attend a program or celebration of Christmas and make this season be meaningful. There are many places to go that are free so create that memory with your family and freinds. I'm a believer!

Future of Real Estate

2008-11-30T18:06:00.000-08:00

Earlier this past week I was at a meeting at our corproate office to learn more projections of what is to come for real estate. What goes down always comes back up but it's the timing everyone wants to know. Sales were up 100% a couple of weeks ago as compared to a year ago in resales. It was ascertained that the continuing increase in sales is bank owned properties which accounts for about 95% of what is going into escrow. We are seeing a lot of first time homebuyers emerging in the market due to the affordability factor.

There will be foreclosed properties that will be around next year but I've already seen signs that these properties are being fixed and won't be "dumped" in the market which is good for current homeowners hoping to maintain and increase the value of their homes. You won't know when the bottom hits until six months after it goes up. We know values will increase and once that news gets out, they may go up fast as everyone is still waiting and there is a lot of pent-up demand. Contractors and investors are still scouting areas for opportunities, and finding them.

Areas like Santa Ana and Garden Grove will have continuing foreclosures but I don't think our surrounding areas will have that kind of impact.

One good thing going for real estate is that if the government wants to turn this economy, they need to make sure real estate takes that turn right away. There are no magic fixes and while some analyists think there will be a 3-5% decrease in prices next year, that may not hold. It all depends on inventory. Right now we do not have a big inventory--due to sellers taking homes off the market until prices get real. It was also reported that Southern California and specifically Orange County is under priced. They got that right. It was also stated that 95-98% of all transactions in our area were under $500,000. That not only includes condos but there are some pretty good homes in this category.

Another factor keeping sales down for those wanting to purchase above $500,000 is that it can be difficult for buyers to get a loan, which is another issue being addressed by the government in trying to help lenders do what they are suppose to do--lend money.

I don't see a lot of foreclosed properties in our area. It is still a wonderful place to live and others know it. Yeah, it's been rough for realtors and someone projected we would have a 25% decrease in the number of sales agent in our area the first of the year. I'm still here and expect to be busy so let me know if I can help. Some have said it will take two years to pull this real estate turnaround off. I'm a lot more optimistic than that. If you are thinking of buying, I don't recommend you wait that long to make a purchase as you will probably miss the bottom.

Yorba Linda Fire

2008-11-18T16:26:00.000-08:00

Where do I start? No one expected this wild weekend. To date we are told there are at least 113 homes that have been destroyed and more are damaged. The figures change daily. I took over two hours yesterday to drive by parts of the city hit by the fire and it was truly devestating. I saw 5-6 homes burned next to each other and then a burned out home next to two others that were standing. The wind was a huge factor. There were so many fronts on this fire that the city was at a disadvantage when it first started in trying to handle it. As it grew we had fire response from northern and central California. Riverside and San Diego trucks were also around. I heard we even had some from Arizona. This was huge. I saw signs in neighborhoods thanking them for saving their homes and saying they were truly their heroes. I talked to some of those firemen who told me stories of what they had to do to save a neighborhood and it made me proud to know what risks they took for us, and they don't even live here.

Each of these homes were not just structures of wood and stucco, they were a refuge and security to the inhabitants. Many of them held cherished items that have been passed down by parents and grandparents that are no longer a possession. Adults are trying to cope and children have had their lives turned upside down. As realtors we sell more than just material things--we sell those dreams, we sell privacy, we special places for families to enjoy life.

It will take time, but houses will be rebuilt and homes re-established. There is so much more to say, but perhaps another time.

Are Foreclosures Down?

2008-11-07T12:42:00.000-08:00

Some recent headlines have stated foreclosure filings are down. Is that accurate you ask? I've been told they have declined, but there may be many more out there waiting to come on the market.

One agent specializing in foreclosures said there are a tremendous number of foreclosures across the country and if they put them all on the market at once, our economic forecast would be a doom and gloom situation. They are apparently aware of that and some lenders have taken the position of putting them on the market at a much slower pace. This is good news as it will stop the escalating decline of residential prices.

Another lender I talked to said instead of dumping the foreclosures, they are now starting to do a little rehab in order to sell them at a higher price. This is also good news. This is another way of helping to stabilize our prices.

In a real estate internet report, one analysis said foreclosure filings were down 12% nationwide in September. It stated California accounts for about one-third of foreclosure activity. There was legislation that took effect in September requiring lenders to contact borrowers 30 days before filing a default. That has helped the slowdown.

Also, lenders are making a serious effort to try and renegotiate some of these loans in order to help qualified owners stay in their property. That's another important step that will help slow things down.

Some newspaper articles have stated the housing market will rise next year and other forecasters continue to be negative. I've seen all of this before. Just before a presidential election you don't see people doing much of anything. They usually proceed after the election. Well, it's finally over and I'm anxious to see which way it goes.

Some of the highest foreclosure rates in California included Stockton, Riverside-San Bernardino, Bakersfield, Sacramento, Fresno and Oakland. They didn't say Orange County so perhaps we can be optimistic in our own area.

Short Sale Transactions

2008-11-07T12:28:00.000-08:00

Short sale transactions are still around and making the news. Sellers still need to qualify before a bank will grant taking a loss to allow an owner out of a contract. Unless a bank has already reviewed the file and agreed to a short sale, many buyers have been disappointed after waiting in some cases months for a decision and then being told no. Or, they can be in escrow and at the last minutes the bank decides they want even more money. It can be a scary way to go to try and save a buck.

Another interesting twist has arisen. When getting an approval, the seller may think he is free and clear. However, in some cases he has not read the fine print. There are lenders that are allowing a short sale but in the agreement they are still requiring the owner to pay the balance at some future time.

They also need to be aware of companies that say they are third-party short sale experts. Anyone can say they are an expert but many of them dont' know what they are doing. Some companies are trying to negotiate and these people do not even have a real estate license. When individuals represent others in a real estate transaction, they are required by the state to have a real estate license. Be careful.

Our company, Tarbell, REALTORS, does not allow agents to negotiate in short sales unless they have gone through a program and become certified to do so. I have done that but even so, there are a lot of pitfalls in these types of transactions.

We are not over hard times so we may continue to see more of such activity.

Yorba Linda and Beyond

2008-10-29T19:45:00.000-07:00

I need to expand on all the great things around us. First, Yorba Linda has a great sandwich shop in Stefano's. They came up with something really really good. You get on their email list and on Tuesday they send you info on a complete dinner you can pick up on Thursday for $22.99. It serves four although they must be big eaters as mine lasted a long time. Every week is different. Sure nice not to cook and just pick up dinner. If you are in the area, go by. It's in Yorba Linda Packing House area off Yorba Linda Blvd. and Imperial Highway. Tell Frank and Colleen that Charline sent you. Doesn't get you anything.

There are some other things going on just outside Yorba Linda. I may be repeating myself but I really like those $3 movies for seniors on any Wednesday or Thursday. I just wish I had more time to go. Maybe next week. It's on corner of Imperial & La Palma. Major movies and it's all day. Should have gone tonight but I'm already late in posting this.

Another find for ladies is the Total Woman Gym in Placentia. Nice atmosphere and lots of really fun classes--if you call exercising fun, but it is. They have lots of different things. Something for everyone. I don't know that I will loose weight as I go for yogurt to reward myself for working out so hard. They also have an attached spa for massages and facials, etc. Nice environment. If you do go, tell them I sent you. I get brownie points there.

The last one is exciting. We have a new minister at Eastside Christian Church--Gene Appel. He is incredible. If you are around the Fullerton area, stop by and see what's happening. Believe me, you won't fall asleep in one of his sermons. It's only been a month but attendance is up. And, we are getting underway for the $25 million building project. Lots of good things happening. Come on down...corner of Yorba Linda Blvd. and State College.

More Yorba Linda Favorites

2008-10-18T17:23:00.000-07:00

There are so many favorites in Yorba Linda! I have been waiting months for the yogurt shop to open and wasn't disapponted. It is self-serve and you pick from a variety of choices. I usually get the chocolate, pumpkin pie, cookies and cream and peanut butter and sometimes throw in the tropical delight. Yogurt Mania is right across the parking lot from Blue Agave. There is a steady line of customers. The weather is still not, so why not.

While we are talking about Mexican restaurants, Yorba Linda has no shortage. Along with El Torrito, Jouquins, Main Street, etc. we now have a new one called Picante Grill in the Stater Brothers Shopping Center. We at there last night and I was very impressed. You can go to www.picante2go.com and check out the menu. They haven't told anyone they are there so it's still easy to get in. I'll be going back The Friday special of five soft-shell tacos for $5 was very filling and excelelnt.

Next on my list of happenings in Yorba Linda is that our office, Tarbell, REALTORS, will be having the annual Pumpkin Patch next Saturday, Oct. 25, starting at 10 AM. Just show up and your child will be able to pick out their pumpkin. We have some fun things planned for kids. This is the same day as the annual Yorba Linda Fiesta Days parade. It will be a busy day in Yorba Linda! After our grandson's soccer game I'll be there. Lots going on.

Yorba Linda City Council Candidates

2008-10-14T14:34:00.000-07:00

Last night I attended the meeting where nine candidates talked about their candidacy for office. Three seats are up for election. I have not been to one of these in ages so thought I'd go find out what was happening. I did learn we have some outstanding citizens running for office and all appear to have a genuine interest in wanting the right direction for Yorba Linda.

They defined our city as a world class city and that sounded good to me. They were asked about prioriities wihch included the town center, the budget, low density, traffic, safety & crime, among others. We do have a substantial money reserve that could go towards a professional arts center or expanded equesterian facilities. A comment was made that when you think of Newport you think of boats and when you think of Yorba Linda you think of horses. I do see a few horses around our area but can't help but wonder if there might be more boats in Newport.

They defined Yorba Linda as having 20 square miles and a population of almost 70,000. They discussed the $87 million given in city expenditures and also talked about the former city manager and her salary. I thought it was interesting when one candidate said she had been making more than the generals overseas.

I do not have the local cable to watch council meetings but those that are in the Yorba Linda area and do have cable can see a rerun of the candidate exchanges on Oct. 15, 22 and 29 at 6:30 PM. Voting intelligently is so important at all levels of government. Be informed.

Lending Practices Continuing to Change

2008-09-27T14:04:00.000-07:00

Just finished attending the Certified Residential Specialist chapter meeting and a seminar in Temecula this past Friday, Sept. 26. Prior to the main speaker, Dick Betts, who talked on advancing real estate technology, and did an incredible job, we also had a report from Mike Hegna, who is a Bank of America Executive for the Pacific Southwest Region.

We are all waiting to learn what economic news is forthcoming from Washington and how that is going to relate to the economy and, of course, selling real estate. I honestly felt we were at bottom, bouncing and would be going up, as I heard last May. Now that turnaround is not projected so quickly and no one has an accurate handle on it. Most people are on hold with a wait and see attitude, including top executives in the lending field. I heard rumors months ago about Washington Mutual, Wachovia and Downey Savings and watched as that has been developing. The bottom for this turnaround will be reached when delinquencies improve, according to Hegna. That's a pretty safe statement but even more banks are in trouble. What we already knew is that lending guidelines are changing on a daily basis. Even though you have an approval, that can be modifed until you are actually locked in for that loan. Good advice to remember. He also said to expect additional fees for the processing. That's the bad news.

The good news is that we still have buyers who are out there and waiting for the right timing. And, North Orange County and Yorba Linda are wonderful places to buy and live. Life goes on and it's how long do you want to put your life on hold. Even though inventory has gone done, we still see some wonderful opportunities out there.

It was also interesting to note that while Bank of America bought out Countrywide on Jan. 11, their systems have not merged and won't until next year. As of July 1, over 3,000 staff has been added on short pays, mainly on the Countrywide side. The process is improving but it's far from perfect from some of the stories being told.

Continuing Earthquakes

2008-09-19T21:41:00.000-07:00

There are lots of different earthquakes. The financial earthquake got our attention and is starting to settle down. What can you say in response to what has happened? It's a kind of wait and see to what is being done and everyone is waiting to see what happens next. Just when things were starting to pick up in selling real estate, this shakes things up even more.

The political earthquake continues. I heard a news commentator say this is probably the most widespread political campaign watched by voters ever and I couldn't agree more. You never know what will happen next and I think there is more to come. Rumors are out there. I have definite opinions on the candidates but this is my real estate blog--not my political sounding board.

On the subject of earthquakes, don't know that I mentioned my experience on the real earthquake that hit our area on Tuesday morning, July 29. It's hard to be brief but our house did some shifting and I have cracks in every room. I wish I could have been home to see what reaction our cat had but she just waited by the door looking at me with big eyes when I first opened the door to find our mini disaster. It was bad, in my opinion, but could have been worse. I've grown up in California around earthquakes, but this was different. I came home and immediately knew we had been through an earthquake, and it continues. We had another one but only a 3.1 a few days ago.

If you want to monitor earthquake movement, go to Goggle and type in Earthquakes and you will be up to date by the hour, day and week as to times and sizes of earthquakes in California and Nevada. Fascinating. Check it out. Within a short time it gives you the information.

Political Conventions

2008-09-05T09:50:00.001-07:00

From watching the Olympics non-stop to political conventions. The political conventions do bring back memories. It was in 1972 I went to a national convention in Miami. It was a very exciting time. We were flown in from California on a chartered plane and proceeded to work in areas where needed. It was very well orchestrated as to where we were and what we did. Sometimes we were the cheerleaders when candidates were arriving, or making those hand-painted signs, or running around the convention floor carrying balloons. Looking at some of the footage of "peace" demonstrations reminds me that as were were bused in to the convention the bus had rocks thrown at it and I seem to remember going through gates of bobbed wire. That was a scary experience. After one of the sessions we had to wait in the "holding room" while the outside tear gas was dispensed so we could leave. I also remember sitting on the second level and yelling so hard and so long that I completely lost my voice. Dan Rather was walking through the aisle trying to report through all the noise. During the day we went to various hotels where state delegations were staying and collected state political pins. I still have them someplace. It was a once in a life time experience. There are more stories but the excitement of participating in such an event was incredible. This year there is a renewed interest in the voting process and I love it. Voting is a privilege and we need to take our candidates serious as we allow them to decide the direction of our country.

What Are Agents Saying?

2008-08-26T15:00:00.000-07:00

I went to a meeting yesterday morning and made some notes on what agents were saying. We all know that REO (real estate owned meaning bank owned properties) are active. That's where we find it to be a seller's market. The banks have been offering their repos approximlately 20% below market and have been generating lots of offers. I wrote one last week and last I heard there were five offers. Yesterday I heard an agent said he had 25 offers in three days. A lot of them are not good offers but they try.

To be considered by a bank, the buyer must be prequalified for a loan and comply with the guidelines as set forth by that individual bank. Every bank is different in what they want and accept. Most of them want a 30 day escrow, an offer that is properly written, a realistic price and a good deposit. One interesting statistic came up yesterday from an agent saying about 25 to 30% of foreclosures were investors with rental property. You don't get many upgrades to begin with in those properties, making regular sellers sometimes a better deal. Just a thought.

Other than REOs, everything else is still considered a buyer's market. There seems to be about 90% of first time buyers making offers. We are seeing prices that compare to what was being offered in 2004. The median home price is about $461,000 in Orange County making it more affordable. As a reminder, first time home buyers may be eligible for the $7,500 loan that can be paid back at $500 a year for 15 years--or when the property resells.

It is encouraging to read more and more optimistic newspaper articles. I do need to say that those with a negative projection don't see real estate activity turning around for another 18 months. Others see it happening later this year or next spring. All this goes back to that forecast I mentioned in May--which was we have hit bottom, we are bouncing the rest of this year and then things will go up first of next year. I still feel that when they do go up, it may be dramatic from all the buyers that are still sitting in the wings waiting. If you want a deal, don't wait too long.

If you read today's OC REGISTER, one headline was "Realtors report a four-month O.C. sales spurt" and the other said "O.C. home demand up 103% vs. a year ago". I won't summarize all of it but the subheading talked about supply is the lowest in 16 months.

Foreclosed Properties to be Maintained

2008-08-18T16:02:00.000-07:00

Effective last month there are new regulations that say those obtaining property through foreclosure must maintain the exterior of vacant residential properties. Violations include excessive foliage growth that diminishes the value of surrounding properties, allowing squatters or trespassers, or failing to take action to prevent mosquitoes from breeding in standing water. The owner must be given notice to correct the problem. The new owner must be given 14 days to begin the correction and 30 days to complete. A fine of up to $1,000 per day may be applied. There are so many foreclosed properties that it's good to see the obvious neglect be corrected.

Where Are We Now?

2008-08-18T15:48:00.000-07:00

Real estate activity is constantly changing. I get ready to say one thing and then something else happens. I was amazed when I read a recent newspaper article saying prices were up. I thought, are they kidding? Then I had to think what could be happening and it made sense. There are a lot of bank owned properties selling and what we are seeing is that they price the homes so low that they get multiple offers and when they do sell, the prices are selling higher than the asking price. Obviously it is working because they are getting the highest price they can in the market. I've been thinking about that and needed to explain. As much as I like good headlines, prices will be going up but not just yet.

Our overall real estate inventory is getting a lot smaller. This is a result of recent sales or people just taking them off the market and waiting for a better opportunity. We see the decline in our local realtor caravans. We just don't have as many to preview. That's still good news. It could be a turning point. Buyers are recognizing that prices are low and regular homesellers that have had to compete with distress sellers are seeing more activity.

Sometimes buyers have to be careful as they can get even better deals with regular sellers than having to go through REOs or short sales which are still wishful thinking in many cases.

More Info on Housing and Economic Recovery Act of 2008

2008-08-04T13:50:00.000-07:00

Continuing with the federal housing package information, there is a tax credit for first-time buyers up to $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years. Sorry, there is no free lunch but even though it must be repaid, it is suppose to help lower the current cost of buying a home.

This federal housing package is to assist an estimated 400,000 homeowners currently facing foreclosure by allowing them to refinance their current subprime mortgages with a more affordable FHA-backed loan. It is hoped that this will stem the rising tide or foreclosures that have been driving down home values across the state. It also creates tougher lending rules that have pushed many potential first-time buyers with good credit off the sidelines.

If you have additional questions I have great lenders I work with and would be happy to refer you to one that can specifically tell you how this may relate to your situation. Like I said yesterday, there is a lot in those 700 pages to be considered and I'm sharing some of the highlights from our California Association of Realtors.

The New Federal Housing Bill

2008-08-03T22:44:00.000-07:00

As you have heard, the President has signed the housing law. I've seen reports saying it was over 700 pages so I won't be reading a summary of all segments of the bill. However, the legal division of our California Association of Realtors does keep us informed and sends a lot of information on various aspects. In addition, we are having another briefing in our weekly office meeting this Tuesday morning on the day to day things we need to know that are effective immediately.

If you have been following changes in Fannie Mae and Freddie Mac secured loans, you may remember that the current loan limit of $729,750 expires on December 31, 2008. The new law permanently sets the conforming loan limits for FHA, Fannie Mae and Freddie Mac not to exceed $625,500. The Treasury Department has been authorized to do a bail out of their current situation. A new government agency, the Federal Housing Finance Agency, will be created to oversee the government-sponsored enterprises (GSE). Just what we need--another government bureaucracy. Also, the FHA reform includes an increase in the minimum down payment from 3% to 3.5% effective this Octoer 1. In the past sellers have been able to help buyers with funds, but that will end.

There is so much more, but I'll save that for another time.

Homes are Selling

2008-08-03T22:35:00.000-07:00

Real estate still is high on the news list of reports but it's one opinion against another. Just last week there were headlines saying "Home demand in O.C. up 51% over a year ago" and that certainly is true by the number of sales we are getting in our office. The past July was a good month. In a "normal" market, July and August slow down but I still say there are lots of buyers who really want to buy--and they should be doing that now before interest rates go up. Our open houses are active and that's a continuing good sign. I've seen some articles that say real estate won't turn around for another 18-24 months. I wonder if they just sit in their office and predict these statements without talking to people in the industry. I met a physical inspector on a property last week and he sayd he is busy. Maybe these reporters aren't interviewing the right people. The bank owned properties are continuing to sell and we are seeing more and more off the market. However, there are more expected so we'll see how that goes. Financing is a key to how many buyers can buy and, of course, how much lenders are lending. Those homes over $800,000 still have it rough due to the lending guidelines requring larger down payments and proof of money reserves, etc.

A Quilting We Go

2008-07-18T17:27:00.000-07:00

Most of you that know me know that I quilt. I really enjoy it. It's like rewarding myself after I'm caught up with what I need to do in real estate. This seems to be an unusually high quilting four weeks so thought I'd bring you up to date on what is happening out there in the local quilting world.

The 2008 Southern California Quilter's Run is July 10-13 and July 17-20. Southern California is broken up into four regions with approximately 10-12 shops in each area. It stretches from Lancaster and Santa Clarita down to El Cajon. The object is to go to each shop so designated. You are given part of a pattern for a quilt in each one and a charm. Individual shops add other touches--fabric, food, etc. It's a fun thing for quilters to do and shop owners love the added business. People (ladies as well as gentlemen) come from all over to participate.

Next weekend in Long Beach is the International Quilt Show and it is to be possibly the largest in the nation. I have flown to Houston twice to attend the three day event. I have been told this one July 25-27 is even larger than Houston. Wow! I'm taking the day of July 25 and will go through as fast as I can so I don't have to take the time to go back. If you enjoy quilts or know someone who quilts--this is the show to see.

The following weekend I will be participating in Quilting in the Desert. This is an annual event where I go to Palm Springs with my quilting friends and we sew all weekend. (My pager and phone are activated so I don't miss anything that might be happening in real estae). Due to the temperature in the desert, we rarely leave the hotel and are able to sew as long as we want.

For those of you who dont' know I have been quilting since about 1985 and have made well over 200 quilts in various sizes. I have donated some to a hospital where cancer patients take chemo, an orphanage in Mexico, an auction to raise money for a high school, etc. Within the past month I have donated an Oriental wall hanging that will be auctioned at a local Yorba Linda Chamber event and a large full quilt to the Quilts of Valor Foundation that will be given to a returning wounded soldier. My children and grandchildren all have many quilts.

A few years ago one of my quilts won first prize at the O.C. Fair in its division. That was the first time I entered and probably the last. Beginners luck is probably good enough. No, I do not sell my quilts nor make them on order. That would take away the fun. I do not consider myself an expert but if you have questions relating to quilts--as well as real estate, perhaps I can help.

Tips on How to "Feng Shui" Your Home

2008-07-06T18:40:00.000-07:00

There has been a lot of interest suggesting that feng shui helps to sell homes and many agents recommend this traditional Chinese practice. One of our real estate magazines gave a summary on things to do so I thought I'd pass on this information.

As agents, when we look at homes the first thing we suggest is to reduce clutter and that is important. Then, if the house needs paint or carpeting, that's where you get the best return. To help bring feng shui into your home, these are the suggestions that I quote from the CRS magazine:

*Simplicity Sells. Remove excess clutter and knickknacks from the room. Potential buyers feel uncomfortable and cramped when surrounded by an abundance of belongings that are not their own.
*Look Toward the Light. Natural sunlight creates a feeling of warmth and happiness. Make use of all windows that bring in the sunlight by pulling back the heavy drapes and raising the blinds.
*Yin/Yang. Place candles and potted plants around the room to create a feeling of balance with nature. When it comes to selecting a type of plant for the room, choose those that have round leaves to create a feeling of completeness.
*Come-in,Chi. Opening the windows for at least 20 minutes a day lets in fresh air (and chi), reduces odor and brings a feeling of fresh energy to the space.
*Pack up the Pumas. An accumulation of shoes by the front door can be very uninviting to newcomers. Gather up your family's footwear and store it out of the way. Walkways to and from the front door should always be clean and welcoming.

Even if you aren't selling, it's kind of fun to review.

Orange County Real Estate Status

2008-06-30T13:55:00.000-07:00

I won't argue we have seen a 25%+ decrease in home values in Orange County, but I do feel as we bounce along we are making progress in getting back to a normal market. Normal may not be until next year, but we are turning that downward motion. If a buyer is ready to buy, this could be that opportunity. You won't know for sure until you can look back.

Not only are we seeing more positive newspaper reports (must be hard for them to do) but they are quoting real estate CEOs saying things are changing. We also have to remember that Orange County is a unique area. There is just so much land and people still want to live here-- a lot of people want to live here. We could be our own economic country and sometimes I wish we were so we wouldn't be stereotyped with some other California areas.

The good news is that as we have gone down we have allowed more affordability so people can buy. Buyers are still looking for those deals and wanting regular sellers to sacrifice to get their homes sold. The prices being offered by buyers are the same prices of a bank owned property (REO) but those do not have near the upgrades and amenities. Most regular owners "just say no." Buyers have to either take the inferior REOs or step up and pay a little more for quality. That's part of the "bounce" process. High end properties take a little longer as lenders are still strict with all the requirements. They lost once big time and don't want to continue.

The lower priced condos and homes are selling and we are seeing more REOs go into escrow. Short sales are still unpopular due to the long delays banks take in deciding what they will do with an offer. We have had a 12 month inventory high and now it has gone down to a 6 month supply. Some regular buyers have had to take their properties off as it has dropped to where they cannot sell. Equity loans add to the amount owned on the property which has made a difference in some cases. What we are not seeing in the market are investors that helped drive the prices up in the first place.

In our area I was told by a real estate forecast watcher that 80-90% of short sales do not close but eventually convert to bank owned properties. Another source said that in the Corona area they are seeing about 70% close in their offices. That's probably due to agents that know what they are doing to work with the banks/owners to learn what banks will consider in a hardship case. Banks are all different in what they will consider before agreeing to a loss. Can't blame them, can you?

With the escalating gas prices, we expect to see more activity from those that moved out of Orange County that are willing to come back in and take a smaller home to compensate for the expense of communting.

If you are interested in where the bank owned properties are in your city, let me know. I can forward that information to you.

Thoughts of Williamsburg, Virginia

2008-06-23T15:13:00.000-07:00

I made some great observations while in the Williamsburg, VA area last week. Gas prices in other parts of our country are not near as high as what we pay in California. While we are closing in at $5, the gas prices for regular was less than $4.

We are getting close to July 4 and I will have a renewed appreciation for our founding fathers who gave up so much. I couldn't help but wonder if we have those kind of patriots running around today. I actually walked on the same wood floors that Thomas Jefferson and Abraham Lincoln walked on. That's pretty amazing. We also visited Jamestown and Yorktown. We drove to some of the plantations and heard their history not only of the revolution era but things that happened in the civil war. It is full of history and I recommend it for those that have children or grandchildren to go and give them a taste of what it was really like back then. We have come a long way. I just hope the ideals and dreams continue in our nation. They have given us so much!

I guess I should be talking about real estate. On my return I was catching up with the news articles and I still see the negative articles with a few positive ones thrown in. We all know that negative sells and sometimes I wonder if "they" are trying to create negativity that further slows our rebound.

We Are Bouncing

2008-06-13T10:03:00.000-07:00

If you remember, I went to a seminar May 2 and the economic forecaster said prices had hit bottom and we would be "bouncing" for a while. What has been happening is that escrows are definitely increasing, the real estate owned homes with the bottom prices are being picked up fast, short sales are really hard to get an answer as to whether or not banks will take a loss, and the regular owners are not lowering their prices. It's like enough is enough. Some have gone off the market and are waiting until the market gets back to a normal expectation.

I've had some interesting experiences. Last week I tried showing two real estate owned properties. One had been on the market for one day and the other two days. They had three and four offers. I talked to an agent who was trying to make an offer on a bank owned home in Anaheim Hills, and the agent said they already had 15 offers. That tells me buyers want to buy. Everyone wants a deal but perhaps the deals are decreasing. Sometimes those "deals" aren't really what you think by the time you have to invest money to bring them to an acceptable condition. You don't get many upgrades in those homes.

At least we are seeing activity and once the lower end pricing is gone, we can get back to a normal pricing era. I'm not saying the REO's (real estate owned) properties are going away as they may not, but there may not be quite as many. The lending companies are trying to work with owners to adjust the mortgages so they don't loose them. That would be great for everyone--if it happens. It's always wait and see but it is definitely looking better. Now we have to see what the escalating gas prices might do to the economy. I seem to remember in my economics class, many years ago, it is always hard to predict the future due to the variables and we certainly have a lot of those.

Conserve Water

2008-06-05T11:28:00.001-07:00

We will be hearing more and more how we need to conserve water in Southern California. I got some good info from my CRS magazine and wanted to pass on a few hints that perhaps not everyone already knows: * Minimize evaporation by watering your lawn during the early morning hours, when temperatures are cooler and winds lighter * Divide your watering cycle into shorter periods to reduce run-off and allow for better absorpotion * Use a screwdriver as a probe to test soil moisture; if it goes in easily, don't water * Check sprinkler system frequently and adjust sprinklers so that only the lawn (not the house, sidewalk or street) is watered.

Memorial Day 2008

2008-05-26T21:45:00.000-07:00

There was a small Memorial Day Ceremony in Yorba Linda today. It was held at the local fire station on Lemon St. I first noticed the cub scouts as they were getting instructions on how to post the colors. There were members from the local Veterans of Foreign Wars and the American Legion. Another group was the Moms of Mililtary. Also in attendance were three former POWs. A short message was given by Major Armstrong from Los Alamitos and Retired Brig. General Valenzuela. There was the placement of the Memorial Wreath followed by Taps. It was a small group but I found it meaningful. It made me think once again of what a wonderful country we live in and the sacrifices that are made to keep our freedom. Our nation is so young and we have already gone through changes--some good and some not so good. Some would like to rewrite our heritage and why we were founded as a nation, but our faith in God and country will continue. It was a good day and a day for reflection. Tomorrow it will be business as usual but today we remembered. Next year the ceremony will be held at a new Veterans Park in our city which is to be dedicated Sept. 11. I plan to be there.

New Place To Visit

2008-05-16T15:45:00.000-07:00

We took a Sunday off from open houses and on Mother's Day went to the new Americana Mall in Glendale. It is almost adjacent to Glendale Galleria. It's too far to go on a regular basis but was fun looking at the construction of these upscale stores. It is an outdoor mall and even has sidewalks. The line was long to get a reservation at the new Cheesecake Factory (like all of them) so we opted for a take out of crepe. Very good. We enjoyed watching the miniature "Bellagio" fountains that moved to music. It was a fun atmosphere. Kids were playing in the playground. It gave you a small town atmosphere which everyone seemed to enjoy and you walked around listening to outdoor upbeat music.

I tasted my first Pinkberry yogurt. Not bad. Pricey but okay. I still go to Yogurtland in Fullerton. I gravitate back there like I go back to Blue Agave for Mexican food in Yorba Linda. When it was my birthday I went two nights in a row--and had two different entrees. It is always good!

So Calif. Real Estate Trade Expo Forecaster

2008-05-03T11:31:00.000-07:00

At the May 2 Expo we had the privilege of listening to Robert Kleinhenz, Deputy Chief Economist of our Calif. Assn. of Realtors. He threw around a lot of numbers, facts and figures. It was evident he enjoys his job shuffling all those statistics. I never took a class in Statistics but I remember hearing you can take numbers and come up with what you want. I don't think this was the case. He made some interesting comparisons.

In the recession of the 1990's we had 10% unemployment and defense cutbacks were prolonged in our area. At this time our unemployment is at 6% so the numbers in this scenario are better and many are not calling this a recession. At this time California is following all those statistical national numbers. (Sometimes we like to think we do our own thing but in the various numbers being watched, we are like the rest of the nation). Inflation is in check through this year and that is a big plus. While the first half of the year was weak, the last half is expected to show increases.

The housing outlook is positive. His numbers expect 2008 to be the bottoming out of the cycle. The tightenening of lender guidelines and loss of affordability have slowed sales as well as the credit crunch that happened the last part of 2007. This is reversing. Credit will be the first to improve and then guidelines will start easing up. Due to the price adjustments, affordability is better.

The unsold inventory went up because sales slowed. In 2008 we had fewer listings. He reminded everyone that not everyone is losing their jobs and people still want to move. Our population continues to increase.

He had so much to say and I know I need to shortenen this but it was all so interesting. He said prices are not expected to fall further but prices may bounce around a little as they adjust. His forecast is that this is the time we are bottoming out. No bell will ring when we hit bottom but sales will start to improve and will be noticed in 2009.

In talking with other agents we are in agreement that activity has increased and we have a cautious optimism of the future.

So. Calif. Real Estate Trade Expo Highlight

2008-05-03T11:26:00.000-07:00

On Friday, May 2 I attended our annual trade Expo at the Disneyland Hotel. The luncheon program highlighted a "Crossfire" event with Bill Press and Larry Elder sparing on various political topics. Everyone truly enjoyed the wit expressed by both speakers with Anaheim Mayor Curt Pringle (former Speaker of the Assembly) as the moderator. When it came to the question of who is going to win the Democratic nomination with its ups and downs, it reminded me of all the forecasters trying to predict when our market is going to reverse. Everyone has an opinion but no one knows for sure.

Newsletter from California Assn. of Realtors

2008-05-01T16:40:00.000-07:00

My California Assn. of Realtors newsletter will be coming out May 5. If you are not on my list, email me your name and the email address you want me to use and I'll include you. Those articles are written by professionals and have some good information on various topics. They are sent the first Monday of the month. I am limited as to how many I can add but still have some space.

Catch Up With Spring Cleaning

2008-05-01T16:17:00.000-07:00

I'm a little late for that March 19 Spring cleaning kick off and was about to toss one of those checklists of everything to be done but saw a few things that are on-going, not just Spring items.
Our "Realtor" magazine had a list of things to do but the one that caught my eye was titled "Sniff out smells." My kids always said I had a good nose, especially sniffing them as they walked in the door in their younger years, so that one caught my eye.

This magazine goes nationwide with their articles and can be interesting to read. They first suggested checking the drip tray underneath the refrigerator and wash out any standing water from defrosting. (Don't think I've seen too many of those recently around here). Remove inside odors by washing the inside of the fridge with a baking soda and water solution. (Okay, we are back on track). This one was good--Boil lemon juice in your microwave and add it to your dishwasher to eliminate bad smells. Also, put lemon rinds down the disposal. (I've had home inspectors that would disagree with that--they like ice cubes and Comet. They say it sharpens the blades). Last on their "Sniff" list is to-- Add activated charcoal in the fridge to keep odors at bay. Most of us use Baking Soda. There are more topics but may save those for another time.

Montage for Lunch

2008-04-28T15:52:00.000-07:00

If you are looking for somewhere special to go for lunch--try Montage in Laguna Beach. It's a great resort and the view overlooking the ocean is fantastic! You can either valet park or my friend told me to park across the street in the shopping center structure and walk across at the light. I've done that a couple of times. The patio restaurant is fantastic. It is called Mosaic Bar & Grille and they do not take reservations. You can put in your name and walk the path overlooking the ocean while you wait. Expect to pay between $25 and $30 for lunch and just enjoy where you are. When you need to get away--it is special.

What is In and Out in Home & Design

2008-04-26T09:44:00.000-07:00

According to the current "Realtor" magazine, outdoor living with massive fireplaces, kitchens and heating are in. They also included refrigerators that are hidden behind hinged doors. (That would take some getting used to). I haven't seen any around here yet but they listed home elevators in mid-priced homes. That would save baby boomers from having to go to a one story. Pet showers are something new that can be added to a garage. Believe it or not, freestanding bathtubs are back in. I grew up in an old house with one of those. It's not my thing but they are popular. I guess that goes along with the increase of bathroom suites which includes a mini fridge, cappuccino maker and flat-screen TV. Who would have thought?

They listed living rooms as being out. I agree we no longer use them but as I preview homes I do see pool tables in them and they are a nice refuge away from everyone. In my house I wouldn't have any place to put the tables I need for basting and pinning quilts. I found a good use for my living room. Oh well, to go on. Someone decided those 20-foot ceilings in a 12 x 10 foot room are not needed. Tiny balconies are out as well as what they call McMansions. We'll see about that around here. We do have some beautiful estates in our area.

Home Improvement Returns

2008-04-11T11:42:00.000-07:00

In my CRS magazine I noted an article that lists the home improvements with the highest returns. Exterior improvements, wood deck additions, minor kitchen remodels and vinyl window replacements were still in the top group. Those with the lowest returns were home-office remodels and sunroom additions. Every area has its unique likes and dislikes. To further research some of this information, you may want to go to www. remodelingmagazine.com and scroll down to find the Cost vs. Value report. Click on the Pacific section for California. It will give you a list of values and returns for our area and also makes comparisons with the national averages.

Color Trends for 2008 and More

2008-04-10T09:01:00.000-07:00

While sitting on my last open house, I was reading one of the REALTOR magazines and noted the up and coming colors. They first talked about "Bring Nature Home" with handmade, undyed and unbleached materials using off-white, sandy and linen colors mixing them with rock and soil colors including brownish greens. Okay, sounds neutral to me. They then talk about the "Blue Hues." They said the environment is inspiring the sky and water blues to come inside and will be used to liven up the kitchen. One additional comment was that in 2009 we should look for the deep navy blue that almost looks black which they say is inspired by the techno world. Okay, I'll look for it.

The next set of colors is the "Ethnic Accents" using color schemes from India, China and Latin America. They expect the Moroccan reds and oranges to mix with rosy pinks, sunny golden yellows and tourquoise. They will be paired with rich browns and neutrals. Sounds lively. The last category is what they call "Subdue The Shine." ?? They go on to talk about shimmery metallic finishes but say the chrome and nickel are going to be replaced by softer shades. More homes are going towards the copper and bronze tones to bring warm to metallic finishes.

There you have it. I wonder what other magazines and industry reports give a different take. I'll end my research here and look for those blue/black colors coming in next year. I always seem to be behind on this color game. I still like my mauves and blues--but they don't sell any more. Good thing I'm not planning to move.

Two of my Special Places in Fullerton

2008-03-25T17:33:00.000-07:00

For those that live close by I do have to share two of my favorite places. The first one is Yogurtland in Fullerton at Chapman/State College. This place is incredible. The yogurt is creamy and tastes like ice cream but has great benefits. As you walk in you take a cup and fill it with the flavors you like--and they have 15 from which to choose. It's really good. You can add as many toppings (including fruit) and syrups as you choose. They charge by the weight and it's .30 cents an ounce. It's not unusual to see lines out the door waiting to pay. It's worth it. Whenever I find myself in that area I have to stop.

Another special place to take the kids, grandkids or just get away for a while is the Fullerton Arboretum. You will be amazed at what is there. You feel you are far away and yet you are next to a freeway. There is a lake with ducks, extremely large and rare trees, gardens to explore and a children's area to visit. It's really special and my grandchildren love it. We even took our lunch and had a picnic in the small vine covered playhouse. To get there you enter off Yorba Linda Blvd. and turn into the Cal State Fullerton entrance at Associated. The area is just to the left. There is no admission but you can leave a donation if you wish. If you haven't been there--go visit.

Tarbell Awards 2008

2008-03-16T14:09:00.000-07:00

When Tarbell does something, they do it right. Every year our entertainment has gotten more and more spectacular and due to the numbers alone it has been held at The Pond in Anaheim for the last three years. This year Don Tarbell brought in 50 dancers, singers, and musicians from Ireland to preform "Riverdance." It was spectacular. Following that there was a special concert production of "Les Miserables" which included some top Broadway stars--Hugh Panaro, Brian Stokes Mitchell and Nita Whitaker to mention a few. It was special. We were also told that 80% of the orchestra had performed for the Oscars this year. Every year I keep saying he can't top that, but he does.

Last year we had Michael Crawford. We've also enjoyed Bernadette Peters and had a great performance in 2005 by Radio City Rockettes--which Dan Tarbell also flew out. The Young Americans have been regulars and are fantastic. They tour all around the world.

Following the morning performance and lunch, we had our usual awards ceremony. Our office was given the distinction of being the highest selling office for 2007. We did good! I continue to be in the top 10 and out of the 140 agents we had in 2007, not bad.

More News from Yorba Linda OC Agent

2008-03-07T18:25:00.000-08:00

I know the title is boring but I read if you keep using some of these names it will help move you up on the web. Maybe and maybe not but we will see what happens.

Everyone in Orange County is excited that loan limits have been raised for FHA, Fannie Mae and Freddie Mac loans to $729,750. The powers above are even working together to get this up and rolling faster than expected. I've even heard they may be set to do business by April 1. Hope it's not an April Fool's event. We've been anticipating this since last year. It's time to go back and sell homes and let people move around.

There was an article from Microsoft Network entitled "Buyers: Should you wait for the market bottom?" They summarized some to buy or not to buy now.

FIVE REASONS TO BUY:
1. Prices in the neighborhood you want are relatively stable.
2. You plan to stay in the home for more than five years.
3. Your rent rivals a mortgage payment.
4. You've found the right house in the right area for you.
5. You've built equity in your house and are moving to a place where homes are cheaper.

FIVE REASONS TO HOLD OFF:
1. You've lived in your house less than two years.
2. Your job security is uncertain.
3. You don't plan to stay in your next house at least five years.
4. You don't have good credit or a decent down payment.
5. You have an existing home to sell in a neighborhood where prices are dropping precipitously or where the number of foreclosures is spiking.

We are finally starting to read some positive news print telling everyone it's really okay to buy again. I don't know if you saw it in the Feb. 26, 2008 OC Register, but there was an article entitled "Demand for O.C. homes up." There was a lot more to the article but the usual doom and gloom headlines were missing. Just yesterday in the same paper but on Page 18 a smaller article said "Economists say O.C. homes 7% overvalued, best bargain in 5 years." I like that last part.

I always have more to say but will be back soon. Can't make this too long or you won't read it.

Yorba Linda OC Real Estate Agent

2008-03-01T14:18:00.000-08:00

There is so much information available and everyone has a forecast as to what is happening. By the time I write something down--tomorrow will produce new information. Just keep that in mind as I ramble my thoughts.

I found an interesting statement in one of the CRS magazines. It said the National Association of Realtors membership has declined 1.5% in 2007. It fell to a 1.338 million membership from a high of 1.358 million but membership totals were 53% higher than five years ago. Doesn't sound like much of a fall off to me. However, agents will continue their membership but may not be selling a lot.

In our own local Tarbell, Realtors office we had a roster of about 140 agents. I thought for sure we would loose a lot the beginning of the year. To my surprise, we still have 135. We lost a few and gained a few.

One California Association of Realtors (CAR) article said that more Californians can afford to buy their first home. In the last three months of 2007 it was determined that 33% were able to qualify, specifically in Southern California. That's up 25% in the same three months of 2006. The affordability was based on the minimum household income required to make a 10% down payment and secure an adjustable interest rate loan at 6.21%. To specifically look at Orange County we find it was 24% in the fourth quarter of 2006 and 28% in fourth quarter 2007.

I've read so much negative speculation on the market that I thought I'd give my own slant. Buyers are there but are being cautious. Too many hesitate because of what they read in the newspaper. Many people selling their homes within the last few years need to re-buy but certainly don't want to buy when they could loose money. They don't think if they wait too long they could loose even more money because prices will be on their way up and they will not have the inventory to pick from. Many sellers not having to sell have already taken their homes off the market and are waiting for prices to go back up.

We should remember that homes are purchased to live in. The speculators were another problem when they competed with those wanting to reside in a home--and prices rose.

Agents do see an increase of buyers coming through our open houses. I recently read an article in our local paper saying the William Lyon Homes had cancellations of 33% during 2007. I'm guessing those buyers still want to buy but are "waiting" like everyone else. Okay, when everyone else decides to buy, can you just imagine what will happen. In talking to other agents we have already noted a few multiple offers happening. Those that hesitate won't know that it is too late until after it happens.

Lenders still have loan guidelines to follow and many have tightened buyer requirements. Those loan limits being raised are still on the horizon and they are coming. I saw a local West Side Story production a week ago which reminds me of that song--"something's coming, something good" and now I'm relating it to loan limit increases and the return of a normal market--whatever normal is.

My First BLOG!

2008-02-21T19:59:00.000-08:00

I recently attended the CRS (Certified Residential Specialist) convention in Hawaii the end of January. We had two and a half days of nonstop classes from new marketing ideas, technology tools plus much more. The first item on my agenda was to start a blog. I've never thought they were that important but in these classes, other agents across the country said yes. Then, a couple of weeks ago the LA TIMES in a front page article said if your agent wasn't blogging, she probably wasn't selling real estate. Okay, okay. I want to keep selling homes so I'd better get with it. Here goes. I've kind of procrastinated because I know once I start I am making a commitment to continue. Just what I need, another commitment on the computer--like my eyes don't have enough to absorb. I feel like I'm on information overload but I'll give it a try. Who knows, perhaps some of this information might even be of interest to others.

The experts say blogs are to be interesting, informative and contain both business and personal items. They even said to let people know when you find a good restaurant, etc. etc. I don't know how all of this is going to go together but I'll give it a try.

The biggest news is that President Bush has signed legislation that will allow loan limits of FHA and FNMA to be substantially increased. Our area should see limits going to $729,750. That's an increase from $362,790 and $419,000. Wow! Now that's an increase! The government computers need to be readjusted to handle this change along with other fine tuning among the key players in the transition. That may take a while, perhaps longer than the 30-45 days anticipated. However, there is optimism we will see a turn around in real estate sales as buyers will better be able to qualify for these loans. Current interest rates are wonderful but buyers aren't biting. They say there is light on the horizon so we continue to wait.

Since I was going to be in Hawaii working, I took four days prior to the convention in Waikiki and went to Maui. A friend suggested staying at the Lahaina Shores so we were able to walk into town for dinner. Great location. Good recommendation I'll pass on. We went on a catamaran and saw dolphins, whales and a large sea turtle. Another day we took a tour on the Road to Hana which has 617 curves on a very narrow one/two lane road and visited the grave site of Charles Lindbergh. It rained the night before so on the way we saw beautiful waterfalls and ate lunch at Hotel Hana. May not do it again but I can say I did it. During the week on the two islands I saw seven separate rainbows. That must be a good omen for real estate as well. That rainbow is coming our way.

I don't know of any new restaurants but the old one I recently went to is Cafe Europe at Imperial and La Palma. It's always good and never crowded. I sometimes forget it's there but have never been disappointed.

I have much more to say but will save it so I don't run out of things to say later. To be a good blogger you should add information twice a week. I'm off and running. Stay turned for more.

Charline