Nic Petrossi, Anaheim Hills Realtor – Complete List of Bank Owned | REO | Foreclosures as of Nov. 4, 2008

The following is a complete list of all bank owned (REO, foreclosures) of Anaheim Hills homes as of Nov. 4, 2008.  It is interesting to note that the percentage of these REO properties to regular sale properties in Anaheim Hills is a very small percentage.  The number of bank owned homes vs. regular sale homes in Anaheim Hills is 9 to 192 or 1 out of 20, That is, less than 5% of Anaheim Hills homes on the market are bank owned (REO) properties.  This is a good sign for the real estate market in Anaheim Hills and bodes well for the future direction of the market.

To contact me, your favorite Anaheim Hills Realtor, visit my website —-> CLICK HERE  to search Anaheim Hills homes, homes in general, or to set up a time to view these or any Orange County homes.

 

Tue, Nov 4, 2008 10:44 PM

RES	MLS #	Status	P	V	H	T	Q	Type	A/D	Address	City	Area	Zip	TGNO	Trct/M	Bd	B t/f	Sty	Gar	SqFt	Yr Blt	Price	DOM
1	P657119	A	2		H	T	Q	CONDO	A	5424 Snow Wood B	AH	77	92807	740d7	OTHR/0	3	2/1	2	1	1,068	1973	$214,900	44	*
2	P652980	A	1		H	T	Q	SFR	A	5626 E VISTA DEL VALLE	AH	77	92807	770E3	OTHR/0	2	2/1	1	2	1,116	1973	$390,000	74
3	P662560	A	1		H	T	Q	SFR	D	350 N Lakedale Dr	AH	77	92807	770B2	OTHR/-	4	2/2	1	3 A	1,903	1978	$399,900	7
4	P661953	A	8		H	T	Q	CONDO	A	511 S San Vicente Ln	AH	77	92807	770G3	FIRZ/-	3	3/2	2	2 A	2,225	1997	$519,900	12
5	P650691	A	7		H	T	Q	SFR	D	242 N Camino Arroyo	AH	77	92807	770F1	OTHR/0	4	2/2	2	2	2,200	1974	$539,900	89	v
6	P637820	A	1		H	T	Q	CONDO	D	1230 S Wildview Ter	AH	77	92808	771D2	CAMB/*	4	3/3	2	2	2,400	1999	$549,900	135	*
7	R808588	A	12		H	T	Q	SFR	D	4120 E Summer Creek Ln	AH	77	92807	770A3	OTHR/0	4	4/4	2	3 A	3,200	2003	$649,900	37
8	P663053	A	7		H	T	Q	SFR	D	416 S Rolling Hills Pl	AH	77	92807	770D3	OTHR/-	5	3/2	2	3 A	3,033	1972	$679,900	4
9	S541761	A	9		H	T	Q	SFR	D	124 S Martin Rd	AH	77	92808	770H1	OTHR/0	5	4/3	2	4	4,728	1990	$1,650,000	100	*

NIC PETROSSI, Orange County Homes Specialist — Where are We Headed?

According to the Orange County Register (who uses Data Quick for their home sales data), we are 56% better off than this time a year ago.  (If we didn’t count new home sales we’d be looking at more like 77%).  Here is how things will go down for the end of 2008 and the beginning of 2009:

End of 2008

   Typically the Holiday season is slow for real estate.  People are thinking of a head count for Thanksgiving and when to pull out the Christmas decorations from the boxes in the garage.  However, this year will be different.  There is a force in the real estate market called “pent up demand.”  This is when there are buyes who were “fence sitting” waiting for the market to hit bottom who are now coming out of the woodwork to buy a home.  This influx of buyers will mean increased demand and decreased supply.  Expect November and December of 2008 to be better than the November and December of 2006 or 2007. 

 

Beginning of 2009

   Although we will still see foreclosures and short sales popping up all over Orange County, we won’t see AS MANY as we have at the end of 2007 and beginning of 2008.  Orange County is faring much better than the Inland Empire (IE) where it seems like 2 out of 3 homes for sale are short sales or bank owned REO’s.  The balance between buyer and seller will be almost restored as we head into summer of 2009.  We won’t see as many “low ball” offers and the pendulum will swing back in favor of sellers.

 

Contact me through my website (phone # on website) if you’re looking to buy or sell a home in North Orange County ———->  NIC’S WEBSITE.

Boo!…Are You Scared Yet? Thoughts from a Placentia Realtor

Well here we are, it’s almost Halloween and it’s amazing how time flies!

We have seen so much happen in the last 4 years…the housing BUBBLE DEFLATION (the “bubble” is looking more like a deflated jumper on the lawn of a 7 year old birthday party).  We have seen banks scramble as they take back thousands of placentia homes, yorba linda homes and orange county homes back on their books.  We have seen BLACK MONDAY when the stock market plunged with almost unprecedented decreases.  (Scary, but felt almost the same way when I was watched the World Trade Center go down).  It has been a very volatile last few years.  Presently only home owners in North Orange County who bought homes 2003 or sooner have homes worth more than when they were purchased.  It has taken 3 years for homes to go back down to 2004 values.  Now, most buyers who have been sitting on the fence are eyeing the bank owned repos feeling that the best deals are in the foreclosure market.  We’re seeing bank owned foreclosures with attracting multiple offers and agents in our Prudential Brea office are complaining that in some areas they cannot win the bidding war to get their client a home! 

When you have multiple offers, you’re usually near the bottom of a downward trend.  It has taken a long time, but sellers are finally becoming more realistic about the true worth of their home.  Those that are unrealistic or just “testing the waters” of the market are taking their homes off the market when they sit for months and months with no serious offers.  Less people put their homes on the market in September / October / November / December so what we’re seeing is a decrease in inventory for re-sale homes and an increase in the number of buyers entering the market who are hoping to time the “bottom” perfectly (like trying to buy when stocks are at their absolute lowest). 

So, when is a good time to sell?  Answer:  Whenever you HAVE TO.  I’m finding that sellers who HAVE to sell are selling their homes because they’re lowering their prices to attract offers.  Sellers who WANT to sell will not sell their homes unless they’re willing to compete with the HAVE TO sellers and join the elite group who are pricing their homes under market, ahead of the bell curve.  These are the sellers that will look back and be glad they did what they had to do.  Those that played around with trying to get top dollar will be looking back saying, “Gosh darn, I should have been more aggressive.”

October 12, 2008 Placentia Foreclosures, Brea Foreclosures, Yorba Linda Foreclosures, Anaheim Hills Foreclosures, Orange County Foreclosures — A Response to O.C. Register Article

An article came out today in the Orange County Register Front Page regarding Orange County Foreclosures. (Orange County, CA that is).  Writer Mathew Padilla quotes DataQuick Data company as his source saying there are more than 3,300 unsold foreclosures in Orange County as of early September 2008.  Though we all know that good news does not sell newspapers and that the O.C. Register is notorious for skewing data to achieve their ends (increased newspaper subscriptions), Mathew Padila did admit that homebuyers are snatching up foreclosures.  This is true.  As a Realtor, I have made offers with buyers on short sale properties and bank owned properties (foreclosures) and have found pretty stiff competition with multiple offers and buyers often out-bidding each other by anywhere from $5,000 over asking price to (I’ve seen) $100,000 over asking price when the home is priced so far under market value that home buyers and investors realize to get the home, they have to sometimes go WAY over asking price. 

Placentia Home Example:

  A home in my own neighborhood in Placentia (smaller unit) was selling as bank owned for $399,990.  I put an offer on this home at full asking price.  It turns out, there were already (1st day on market!!!) several offers already on the table, according to listing agent.  The home ended up selling for (get this) $455,000.  So, although it may be true that there several foreclosures on the market, the GOOD ONES are being bought up immediately and buyers are often paying MORE than asking price when they realize what a ridiculous deal it is. 

Furthermore, the article in the O.C. Register does not specify the number of foreclosurs per city / area.  What this means is that there the 3,300+ homes are mostly in areas where most of the bad loans (stated income negative amortization or adjustables) were issued.  The real numbers for local cities?

Placentia Foreclosures:  25 Bank Owned (REO) Properties out of 186 homes on the market as of TODAY, October 12, 2008.  That’s a whopping 13% baby!

Yorba Linda Foreclosures:  15 Bank Owned (REO) Properties out of 384 homes on the market as of TODAY, October 12, 2008.  Hold on to your hats and glasses for this stat — That’s a whole 4% !!!!! 

Brea Foreclosures:  7 Bank Owned out of 111 total properties (again as of today)…that’s 6% folks.

Is Supply really ahead of Demand as Mathew Padilla says?  Well, in some cities, but when you have only 15 foreclosures listed on the MLS in Yorba Linda out of 384 homes, I wouldn’t call that a majority.  In fact, I’d say that these 15 properties are either going to be bought and gone tomorrow or there is something seriously wrong with some of them.  Buyers are buying REOs like they’re going out of style, when they are priced right (which 90% they are) and they are in good areas.

Looking for a foreclosed / bank-owned property in a great area?  Let me do the research.  If you’re looking in the North Orange County area (Fullerton, Placentia, Brea, Placentia, Orange, Anaheim Hills) or even some of the perimiter cities, I’ll run the search for you and send the properties to your email.

Send your request to:  npetrossi@yahoo.com    or visit my website, click here —> Nic’s Website

For more foreclosure information, check out RealtyTimes, RealtyTrac.com or Yahoo! Real Estate.  (make sure you click the “foreclosures” bubble.  Your best bet is to send your request to my email since I can weed out the homes that are already in escrow or in neighborhoods that are right for you.

Placentia Schools & Yorba Linda Schools (Middle / High) API Scores for 2007

Although there are several important factors when deciding on a school for your children (location, demographics, calendar, etc.), the Academic Performance Index (API) standardized test is a measure of school performance and progress. Scores range from 200 to 1000.  A score above 800 is considered very good comparatively, and a score above 900 is considered extremely good or excellent in comparison to other schools statewide.

 

API ranks by school:

 

Bernardo Yorba Linda Middle  831

Travis Ranch Middle  No Accountability Report on Website

Yorba Linda Middle  841

Kraemer Middle  749

Valadez Middle  No Acountability Report

Tuffree Middle  822

 

El Dorado High  802

Esperanza High  837

Valencia High  758

 These scores are from each school’s Accountability Report posted on PYLUSD’s website…as a Placentia Realtor / Yorba Linda Realtor and Area Specialist, I make it my goal to be educated and informed on the boundary areas, schools and miscellaneous school info for my clients’ sakes.

For Boundary Maps of where you must live for your child to attend these schools go to my website à  http://www.nicpetrossi.com/  and click on the “School Boundary Maps” button.  You can also find information on Placentia homes, Yorba Linda homes, Brea homes, Fullerton homes, North O.C. city info and search MLS.

Example of YouTube Placentia Home for Sale Pitch (513 Dickinson Circle, Placentia)

Sorry about the quality…we’ll be enhancing this next go round.

http://www.youtube.com/watch?v=nJcw0XQWlVE

What a great way to advertise your listings in this digital age!!!

 To see example of video introduction for your real estate website, click here –> Placentia Realtor, Yorba Linda Realtor, Placentia Homes for Sale, Yorba Linda Homes for Sale