Market Update March, 2017 for Placentia, Yorba Linda, Anaheim Hills: March 02, 2017

Anaheim Hills CA Gorgeous Scenery

Anaheim Hills currently has 76 Single Family Homes on the Market with Lowest Price of $549,900 and Highest Price of $3,999,999.

Average Price of all Active Homes combined:  $1,220,796

Average Days on Market of these Homes:  76

Homes in Escrow (SFRs):  57

Average Asking Price for Homes in Escrow:  $819,500

 

Placentia currently has 41 Single Family Homes on the Active on the Market

Lowest Price Active home:  $499,000

Highest Price Active home:  $1,099,000

Average List Price of Active homes:  $729,246

Homes in Escrow:  47

Average Asking Price of Homes in Escrow:  $642,129

Example of Placentia Home that was Listed in Past by Nic Petrossi

Yorba Linda currently has 148 Homes on the Market

Lowest Price Active Home:  $614,900

Highest Price Active Home:  $17,995,000

Average List Price:  $1,636,508    (the $17,995,000 Home at 5005 Hidden Glen affects average)

 

 

New Home Builds Remain Quite Strong in Orange County going into 2017

Median Home Prices in Orange County are up (as the chart below shows)

That’s nice to know, but the million dollar question is:  Where are we headed?

Large Company New Home builders e.g. Shea, Pulte, KB Homes, William Lyon, Lennar, D.R. Horton and smaller companies e.g. MW Custom, Brandywine Homes, Olson Homes all have one thing in common – they do their homework.

Timing is everything in the real estate industry.  I remember seeing vacant lots with “Coming Soon” signs all over Orange County just 1-2 years ago.  How long did they sit vacant?  Some of them were for 5 years or more.  For example, the massive “La Floresta” master planned community in Brea at Imperial Hwy and Valencia Ave shows an electrical permit dating back to April 14, 2011!!!  Over 5 years later, we see a vast array of trendy restaurants, Whole Foods market, and more homes still being built…

Why the delay?   Van Daele Homes, Oakmont, and Del Webb all knew something…that the market would peak in 2016.  Several of the homes purchased this year are still being built.  These builders were willing to wait because the difference between $625,000 and $675,000 is considerable when you’re talking about hundreds of homes purchased.  That $50,000 adds up.  New Home buyers don’t seem to mind – after all, it’s exciting to buy something that smells so new, looks so fresh, and is walking distance to really cool amenities and shopping.

What this means for 2017 and beyond is that historically we see a drop off just after new home builds are bought out, the front yards are starting to look like front yards, the streets begin to resemble normal streets and the feel becomes more of a normal looking neighborhood without the mounds of dirt, construction trucks and lumber stacks.  The dust settles, and the prices begin to drop.  They know it, and they’re ok with it, because they made they’re money and moved on to other projects while the property management companies are left to deal with the problems.

This doesn’t mean these companies are bad – they’re just smart, and they invest too many millions of dollars to make a poor timing decision.

For resale homes (here defined as any home that is not newly built), there is a direct correlation with these new home builds.  Housing markets reach peaks and these peaks are as much psychological as they are physical.  We all know a huge interest rate hike would cause a drop off, but what about the common sense logic that 123 Main St., a small 3 Bedroom single family home in a nice neighborhood built in the 1960s is NOT REALLY WORTH $750,000???  Buyers begin to pull back on the horse’s reins and say “Whoa, Nelly” and more and more decide to wait for a pull back in the housing market.  I hear the words “I’m waiting for prices to come down” quite often from visitors to my Open Houses.  When this sentiment prevails, and more and more people are “on the fence,” the prices come down.

It takes a month, or two, or three…but there comes a time when people selling their homes begin to realize that they can’t get the prices their neighbor was getting in Spring of 2016.  They may try, but after 3 weeks on the market with no offers close to their neighbors’ asking price, the thought starts to sink in – “I need to lower my price if I really want to sell this home.”

This shift from a Sellers’ Market to a Buyers’ Market is not overnight, but gradual as even the nicest of homes that once garnered multiple offers over the first open house weekend see an offer trickle in, every so often.  Ultra careful buyers take their time, not as concerned they’ll “miss out” on this one.  And a new normal is established.  6 months later some Data Company will represent this in the form of a chart that shows a drop off in home prices. Like, for example, this chart shows from 2007 to 2008:

What the rest of this chart doesn’t show is that prices continued to go up in 2016…and then leveled off.  But what is interesting is that the NUMBER OF BUILDING PERMITS issued in Orange County, although significantly lower than last year, was still a huge number for 2016

Building permits are issued long before the actual construction takes place, so we will continue to see a healthy amount of new homes going up in Orange County in 2017.  This is a good sign for 2017 – I won’t stick my neck out and say we will maintain our 2016 median values, but I will say that there is a good chance that home prices won’t dip too much.  In some cases (e.g. the $400,000 to $500,000 homes) there may even be a slight increase.

 

Looking to Buy or Sell?   Call or Text the author of this article,

Nic Petrossi, TNG Real Estate Consultants (714) 272-3646

Email:  Npetrossi@yahoo.com

Your comments and views are welcome!

 

3 REASONS TO SELL IN FEBRUARY

Three Reasons Why you want to sell your condo, townhome, or house in February instead of waiting until Summer. #1) Inventory in Northeast Orange County is low. #2) The Quality of Buyers Looking is VERY Good ,#3) The Weather is Good.

Condo or “Home Home”…the Pros and Cons

Recently, I’ve come across several buyers who deliberate on whether they should buy a condo/townhome or a traditional single family home (you know, the kind that usually have bigger back yards and are NOT in an association). So what exactly are the pluses and minuses of owning a condo/townhome and owning a single family residence? Condos (which include townhomes as far as the MLS is concerned) are good for the following reasons: Most are “low maintenance,” meaning the yards (if it has one) are usually small, less grass to cut, less weeds to pull, less greenery to water, etc. This is attractive for busy people who don’t have time to deal with it and don’t need the bigger yard. The HOA (Home Owners Association) is actually a PLUS sometimes. Let me give you an example: Some HOA’s cover the roof of the property. So, let’s say we have heavy rains. The roof leaks. The HOA property manager is contacted, who, in turn contacts the roofing vendor. The work is done at the expense of the HOA. Roof repair for Orange County, CA homes can run extremely high, especially in extreme situations where the roof needs to be completely replaced. This would be a HUGE out-of-pocket expense for someone who owns in a traditional neighborhood. The buyer of a condo is advised to look into exactly what the HOA covers. Some cover a TON, some cover very little and you’re scratching your head wondering why the dues are $333 a month. Condos in Orange County tend to be newer on average than traditional home-homes. Now, that isn’t to say that there aren’t older condo tracts, but condo/townhomes generally are newer than sfr’s. Newer construction equates to less potential problems with the plumbing, electrical, etc. Condos can be bad for the following reasons: The HOA’s can be horrible…some run over $300 per month and you’re looking around asking, “For WHAT?!?” Some HOA’s can be excessive in terms of rules and regulations and oppressive. I’ve heard stories of HOA’s writing up violations for silly things like plants growing to large or dogs peeing in wrong places. Don’t get me wrong…sometimes rules can be good and in the best interest for everyone, but I’ve seen when the Board members are sheriffs on the look out for anything out of line….like the lady in Over the Hedge who measured the grass of her neighbor’s lawn, 2″ height requirement. Because of the HOA, you are limited to what you can do to your property. Especially on the outside of the property, visible from the street. So, no painting that cracked wheat color, no addition to the home without the HOA’s approval via architectural request. Individual creativity and expression is usually not encouraged in an HOA. On the positive side, however, this limiting of artistic creativity or color preference can be a good thing — Do you really want your neighbor to paint their house turquoise? Size. Condos and townhomes generally are smaller than your traditional family home. This obviously is not always the case, but is a generalization. Single Family “Home Homes” are good for the following reasons: They usually have bigger yards. This is good for the person or family that likes to entertain a lot of people and need space for the pool, BBQ, sport court, lawn activities, etc. Some people like the wide open space, the distance between their home from their neighbor’s house. There usually aren’t restrictions on what you can do (city must approve additions, improvements, however). It’s nice to know you can paint the home YOUR favorite color or park your car in the driveway or next to the curb or have people stay over the night, weekend, or week. For pet lovers, they can have as many pets as the city ordinance allows. Neighborhood. You usually find the “settle down” kind of people in neighborhoods of single family homes. These are neighborhoods that have history. Sometimes people look after each other, take care of the pets and yard when you go on vacation. Community block parties…and these neighboring families can become so close that they actually become like an extended family. This is very attractive to the outgoing people that love community and interaction with people. Single Family Homes can be bad for the following reasons: The bigger yards mean more TIME spent gardening (if you don’t have a gardener). It means more up-keep and responsibility. Some care, and some don’t. A pool is awesome for kids and their friends in the summer, but can be a liability if someone gets hurt or drowns. No HOA means no insurance coverage for the exterior of the dwelling…you’re on your own if there is a flood in the home or a leak in the roof or a fire breaks out in the master bedroom. It’s you and your invidual insurance company. Need help selling your home? Need to find a home? Call or email me!!! Nic Petrossi, Prudential CA Realty in Brea (714) 272-3646 npetrossi@yahoo.com http://www.NicPetrossi.com

Kerrigan Ranch Yorba Linda

Kerrigan Ranch is a prestigious neighborhood of fine homes located in the hills of  Yorba Linda.  These highly-coveted homes often come with a view and boast very large lot sizes in comparison to most new construction in Orange County.  Below is a market update for Kerrigan Ranch homes on the market (listed as an “A” status); homes that are in escrow (listed as a “B” or “P”) and homes closed (listed as “C”) since 6/1/2009. 

Call or email Nic Petrossi with Prudential California Realty (Brea office in Home Depot Shopping Center).

Nic Petrossi is your Kerrigan Ranch listing agent AND buyer agent.

(714) 272-3646 Direct    (714) 257-3606 Office    www.NicPetrossi.com    npetrossi@yahoo.com

Thu, Jul 9, 2009 10:17 AM

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	P689462	A	11		H	T	Q	SFR	D	19399 Steeplechase Way	YL	85	92886	740D2	YRLH/1	5	6/5	2	4	4,170	2005	$1,250,000	41	*
2	P687763	A	8		H	T	Q	SFR	D	19495 E Shetland Ln	YL	85	92886	740E2	CVHT/2	5	6/5	2	4	4,200	2004	$1,375,000	53	*
3	MRM-W09035245	A	10	V	H	T	Q	SFR	D	4103 DAPPLE GRAY	YL	85	92886	740D2	/	5	6/5	2	3 A	5,500		$1,399,000	105
4	P673601	A	20		H	T	Q	SFR	D	3873 Breton Ln	YL	85	92886	740D2	COVH/4	6	6/5	2	3	5,600	2005	$1,399,999	170	*v
5	P691229	A	16		H	T	Q	SFR	D	4077 Oldenburg Ln	YL	85	92886	740D2	CVHT/3	5	5/4	2	2 A	4,800	2005	$1,498,000	26
6	P654833	A	20	V	H	T	Q	SFR	D	3921 Paso Fino Way	YL	85	92886	740D2	CVHT/2	5	6/5	2	4	4,182	2005	$1,550,000	307	*
7	P668020	A	10		H	T	Q	SFR	D	19442 CONNEMARA Ct	YL	85	92886	740D2	OTHR/2	6	7/6	2	4	4,625	2005	$1,550,000	173	*
8	P684347	A	12		H	T	Q	SFR	D	19636 Morgan Ct	YL	85	92886	740E2	CVHT/2	5	6/2	2	4	4,200	2005	$1,598,950	79
9	MRM-H09008381	A	17		H	T	Q	SFR	D	19676 MORGAN Ct	YL	85	92886	740E2	/	6	7/6	2	4 A	5,870	2005	$1,699,000		*
10	S563202	A	10		H	T	Q	SFR	D	19484 Shetland Ln	YL	85	92886	740E2	OTHR/-	5	5/4	2	2 A	4,400	2005	$1,790,000	150	*
11	P647976	A	20		H	T	Q	SFR	D	19596 Connemara Ct	YL	85	92886	740D2	CVHT/2	5	6/5	2	4 A	4,170	2005	$1,849,000	355	*v
12	P655540	A	8		H	T	Q	SFR	D	3733 Quarter Horse Dr	YL	85	92886	740F2	OTHR/1	5	6/5	2	4 A	5,033	2005	$1,849,000	304	*
13	P690191	A	20		H	T	Q	SFR	D	19876 Trotter Ln	YL	85	92886	740E2	OTHR/1	5	6/5	2	4 A	5,033	2005	$1,890,000	35
14	P678334	A	20		H	T	Q	SFR	D	19872 RED ROAN Ln	YL	85	92886	740E2	OTHR/5	5	6/5	2	4 A	5,412	2005	$1,950,000	127
15	P660054	A	20	V	H	T	Q	SFR	D	20303 FAIRMONT Blvd	YL	85	92886	740E1	CUST/0	5	8/5	2	4	8,700	2008	$6,350,000	272	*v
16	P660150	B	2		H	T	Q	SFR	D	19985 Winners Cir	YL	85	92886	740E2	CVHT/1	5	6/5	2	4	5,100	2005	$1,300,000	272	*
17	P629075	P	16		H	T	Q	SFR	D	4116 Dapple Gray Ln	YL	85	92886	740D2	COVC/3	5	6/5	2	3	4,892	2004	$1,350,000	361	*
18	P689235	S	4		H	T	Q	SFR	D	19471 Cleveland Bay Ln	YL	85	92886	740D2	OTHR/1	5	5/4	1	3	3,850	2005	$950,000	12
19	P687538	S	6		H	T	Q	SFR	D	19377 Steeplechase Way	YL	85	92886	740D2	CVHT/2	5	6/5	2	4	4,170	2005	$1,170,000	17

Short Sale Advice from Nic Petrossi, Orange County Realtor

There are 5 things you can do when you realize you can no longer make your mortgage payments:

1. Nothing
2. Deed in Lieu (Hand the Title, and keys, back to bank)
3. Short Sale
4. Bankruptcy
5. Loan Modification

All of these options will adversely affect your credit.  However, some options ARE better than others.

For example, the on the severity scale of how bad your credit will take a hit, on a scale of 1 to 10, an outright foreclosure or bankruptcy is like an 11.  The Deed in Lieu is probably the dumbest thing to do because the bank will let you stay in the home rent free for a while anyhow while you work this all out.

A Loan Modification is the best route to take, but you have to know what you’re doing.  There are only a handful of legitimate Loan Modification companies out there that know how to handle this for you (for a fee) but are well worth the money.  Making your monthly payment smaller could allow you to keep your home and sometimes the bank will reduce the AMOUNT owed (principal balance). 

A short sale is the best route to take, usually, if you…A) Can’t get a loan modification, B) The loan modification doesn’t help anyhow because you can’t afford even the new amount, C) The home you’re living in is your principal residence (i.e. it’s not an investment property), and D) you can work out discharge of indebtedness with the IRS.

We get the term “short sale” from the fact that the bank is taking less from the proceeds from the sale of your home than the current loan amount owed.  Ergo, the bank comes up “short.”  In other words, the bank takes the hit in the pocket and you take the hit to your credit.  When you short sale, the amount “forgiven” you by then bank for the difference owed and the final purchase price is actually considered a “gift” by the government, and the government will tax your income accordingly. 

Example:   You bought your home in 2006 for $750,000.  The home is now worth $600,000 and you’ve lost your job.  Your wife (or husband) can’t handle the payments with their income alone.  You try to call the bank and work out a loan modification but the bank says “no” even though the person on the phone is not authorized to tell you “no.”  So you call an expert who can negotiate with the bank for you.  THAT doesn’t even work so now you must short sale your home.  You find a real estate agent who lists the home you once bought at $750,000 for $575,000.  The agent tells you that you need to get together a “packet.”  The packet consists of two years taxes, 2 months bank statements, a hardship letter to the bank explaining why you can’t make your payments, and any other documentation of income.  The agent gets several offers and eventually (after several weeks) submits the highest and best offer (we’ll say $600,000 for the sake of this discussion) to the bank with the “packet.”  The packet with the offer reaches the bank’s loss mitigation department where it sits on a desk with several other offers and packets on several different properties.  If there are 2 or more lenders on your home, the packet and offer have to be sent to those banks as well.  When there is a Second on the property, it gets sticky because the First Lien Holder always wants to screw the Second Lien Holder and the Second wants to get something out of the deal.  The negotiations between the 1st, 2nd (and sometimes) 3rd Lien Holders will often delay this process even longer.  Let’s say the bank settles on the $600,000…and you owe $700,000 since you originally put down $50,000 when you bought the place.  Now, you are taxed on that $100,000 as if you made that money since it is considered a gift by the IRS.

The good news is that there was a bill passed by Congress to relieve you of that “gift” taxation as long as you live in the property as primary residence and can prove insolvency (that your bills are more than your income).  You would then apply for this using IRS form 982 called “Reduction of Tax Attributes Due to Discharge of Indebtedness.”  You apply when you file your income taxes.  The word on the streets is that the IRS is so back-logged that they are not going after people for the difference on their home’s short sale, but I wouldn’t trust in that information but consult a CPA or lawyer to see how you’ll be affected.

Need help selling or buying a home in Orange County? 

Contact me, Nic Petrossi with Prudential at (714) 272-3646 or email me at npetrossi@yahoo.com

Click here to check out my website —–>    CLICK HERE

Yorba Linda Homes with Nic Petrossi (714) 272-3646

Below is a list of all single family homesi in the 92886 zip code of Yorba Linda that have at least 1800 square feet and are under $1M.  This list is active and current as of 4/29/09.

Contact NIC PETROSSI with Prudential Ca Realty at (714) 272-3646 for all your Yorba Linda Real Estate needs.

npetrossi@yahoo.com

Click here for Nic’s website ————–>    Yorba Linda Homes & Yorba Linda Real Estate

P683622	A	16		H	T	Q	SFR	D	4821 Torida Way	YL	85	92886	739J4	OTHR/*	5	2/1	1	0	2,015	1963	$464,900	19
2	S571044	A	13		H	T	Q	SFR	D	4301 La Cuesta Cir	YL	85	92886	740A3	OTHR/-	4	3/2	2	2	2,100	1975	$499,000	14
3	P643390	A	6		H	T	Q	SFR	D	5692 Trail View Pl	YL	85	92886	740A6	OTHR/0	4	2/2	1	2 A	1,864	1963	$579,000	297	*
4	P680150	A	18		H	T	Q	SFR	D	5611 Brookhill Dr	YL	85	92886	740E5	OTHR/*	4	3/1	2	2	2,011	1968	$589,000	42
5	M110154	A	1		H	T	Q	SFR	D	5731 Placerville Pl	YL	85	92886	740F6	OTHR/0	4	3/3	2	3	2,427	1973	$599,000	203	*
6	P681200	A	13		H	T	Q	SFR	D	5621 Shady Glen Pl	YL	85	92886	740F5	OTHR/a	4	2/2	1	2	1,910	1976	$599,000	34	*
7	P678493	A	15	V	H	T	Q	SFR	D	17351 La Collette Pl	YL	85	92886	739J5	OTHR/-	5	3/1	1	2 A	2,200	1963	$599,500	54
8	P684190	A	15		H	T	Q	SFR	D	4381 Casa Oro Dr	YL	85	92886	739J3	OTHR/0	4	2/1	1	2 A	1,909	1965	$599,900	19
9	P683380	A	15	V	H	T	Q	SFR	D	5100 Webb Pl	YL	85	92886	740A4	OTHR/*	4	3/3	1	2	2,331	1980	$599,950	20
10	P685121	A	14		H	T	Q	SFR	D	17080 Wabash Ave	YL	85	92886	739J2	OTHR/*	4	3/2	2	3 A	2,003	1986	$609,900	2
11	P684610	A	17		H	T	Q	SFR	D	17400 Ridgedale Ln	YL	85	92886	740A2	OTHR/0	3	3/2	2	2 A	1,953	1985	$625,000	8
12	P681388	A	20		H	T	Q	SFR	D	5291 Los Altos Dr	YL	85	92886	740C5	FRTR/@	4	2/2	1	3 A	2,253	1965	$635,900	33	*
13	P672636	A	8		H	T	Q	SFR	D	4580 Via Lourdes	YL	85	92886	740G3	EPH2/5	3	3/2	2	2 A	2,200	1987	$648,888	97	*
14	P631631	A	11		H	T	Q	SFR	D	16752 Loie St	YL	85	92886	739H3	OTHR/0	3	2/1	1	2 A	1,831	1961	$649,000	385	*
15	P675570	A	18		H	T	Q	SFR	D	4700 Via Del Buey	YL	85	92886	740F3	EPH1/1	3	3/2	2	2	1,860	1985	$649,000	76
16	P680442	A	3		H	T	Q	SFR	D	5817 CASSON Dr	YL	85	92886	740A6	OTHR/1	3	2/2	1	2	2,342	2009	$649,000	40
17	P677018	A	20	V	H	T	Q	SFR	D	5065 N Marshburn Cir	YL	85	92886	740A4	OTHR/A	4	3/2	1	3 D	2,301	1986	$669,000	66
18	S536449	A	15		H	T	Q	SFR	D	19412 Old Ranch Rd	YL	85	92886	740E5	OTHR/*	4	3/2	1	2 A	2,200	1966	$675,000	301	*v
19	P684853	A	14		H	T	Q	SFR	D	20790 ASH Cir	YL	85	92886	740G3	OTHR/0	4	3/2	2	3 A	2,531	1984	$675,000	5
20	P684595	A	19	V	H	T	Q	SFR	D	20042 Glen Pl	YL	85	92886	740F6	OTHR/0	5	3/2	2	2 A	2,320	1971	$685,000	7
21	P638000	A	4		H	T	Q	SFR	D	4885 Hannah Cir	YL	85	92886	740g4	OTHR/2	5	3/2	2	3	2,400	1995	$689,000	311	*
22	P677283	A	7		H	T	Q	SFR	D	17090 Camino Cabrillo	YL	85	92886	739J1	AUGS/1	4	3/3	2	2	2,245	2002	$699,000	62	*
23	P636802	A	20	V	H	T	Q	SFR	D	16701 Landmark Ave	YL	85	92886	739H2	OTHR/0	4	3/3	2	3 A	2,277	1968	$699,900	331	*
24	P682411	A	12		H	T	Q	SFR	D	5791 Mountain View Ave	YL	85	92886	740E6	OTHR/*	4	3/1	1	2 D	2,188	1962	$699,900	26
25	P681421	A	11		H	T	Q	SFR	D	17082 Orange Dr	YL	85	92886	739J4	OTHR/-	3	3/1	1	2 A	1,945	1962	$700,000	33	v
26	P684023	A	7		H	T	Q	SFR	D	18832 La Casita Ave	YL	85	92886	740C3	OTHR/3	4	3/2	S	2 A	3,000	1962	$725,000	12
27	P676866	A	8		H	T	Q	SFR	D	4144 PEPPER Ave	YL	85	92886	740H2	OTHR/0	5	3/2	3	3	3,150	1980	$730,000	65	*
28	P683443	A	8		H	T	Q	SFR	D	20615 Via Del Palmar	YL	85	92886	740G4	EE1B/4	4	3/2	2	3 A	2,500	1985	$739,900	16
29	P672404	A	15	V	H	T	Q	SFR	D	4892 Avocado Ave	YL	85	92886	740C4	OTHR/o	4	3/3	S	2 A	2,234	1956	$749,000	99	*
30	MRM-H09007289	A	20	V	H	T	Q	SFR	D	4892 AVOCADO Ave	YL	85	92886	740C4	/	4	3/3	1	2 A	2,234	1956	$749,000		*
31	S551329	A	6		H	T	Q	SFR	D	18732 Rancho Circle Ln	YL	85	92886	740C3	OTHR/c	3	3/2	1	2	2,420	1988	$749,900	194	*
32	P656116	A	5		H	T	Q	SFR	D	3665 Fairmont Blvd	YL	85	92886	740E5	BKE1/o	5	3/2	2	3	2,692	1987	$750,000	227	*
33	MRM-H09043483	A	7		H	T	Q	SFR	D	5317 VISTA MONTANA	YL	85	92886	740F5	/	4	3/3	2	2 A	3,143	1979	$789,000
34	P667666	A	16		H	T	Q	SFR	D	6250 Cannery Ct	YL	85	92886	740F6	FRTR/0	4	3/3	2	3 A	2,417	1993	$789,900	146
35	P680698	A	9		H	T	Q	SFR	D	20640 Via Tapaste	yl	85	92886	740g4	EE1B/2	4	3/2	2	3 A	2,262	1984	$799,900	37
36	P669445	A	20		H	T	Q	SFR	D	5261 LOS ALTOS Dr	YL	85	92886	740C5	CUST/-	7	5/4	2	2 A	4,000	1963	$810,000	120	*
37	P684000	A	8		H	T	Q	SFR	D	4985 Via Lucia	YL	85	92886	740F4	EE1A/5	4	3/2	2	3 A	3,107	1980	$839,900	12
38	P683926	A	19		H	T	Q	SFR	D	17430 SUMMER OAK Pl	YL	85	92886	740a6	OTHR/0	6	4/4	2	3 A	3,000	1991	$850,000	13	v
39	P661041	A	8		H	T	Q	SFR	D	17091 BLACK WALNUT Ct	YL	85	92886	739J1	INVR/0	5	3/2	2	3 A	3,236	2003	$875,000	128	*v
40	P681403	A	19		H	T	Q	SFR	D	20765 JUNIPER Ave	YL	85	92886	740H3	OTHR/0	4	3/2	2	3 A	2,828	1983	$875,000	35
41	L29566	A	1		H	T	Q	SFR	D	20167 Milano Ct	YL	85	92886	740E4	CUST/3	4	3/2	2	3	2,991	2008	$879,900	7
42	P681707	A	8		H	T	Q	SFR	D	3782 Carson Way	YL	85	92886	739J2	TERZ/4	4	3/2	2	3	2,990	2001	$889,000	30	*
43	S544041	A	1		H	T	Q	SFR	D	3973 Tipperary Ct	YL	85	92886	740B2	OTHR/3	4	4/3	2	3 A	3,236	2009	$899,000	71	*
44	P683084	A	11		H	T	Q	SFR	D	17260 Drake St	YL	85	92886	739J2	TERZ/1	5	4/4	2	3	3,286	2002	$899,800	20	*
45	P651494	A	20	V	H	T	Q	SFR	D	4805 Via Amante	YL	85	92886	740H3	SUN1/4	5	4/3	2	3	3,318	1985	$899,900	259	*
46	P677572	A	19	V	H	T	Q	SFR	D	19112 Oro Verde Ln	YL	85	92886	740D3	CUST/0	4	3/2	1	2 A	2,762	1975	$947,000	62	*
47	P658842	A	7		H	T	Q	SFR	D	3280 Rim Rd	YL	85	92886	740H1	OTHR/*	5	3/2	2	3	2,958	1991	$949,000	210	*
48	P679038	A	19		H	T	Q	SFR	D	5821 Kellogg Dr	YL	85	92886	740D6	CUST/1	5	3/3	1	2 A	3,500	2001	$949,000	50	*
49	P680835	A	10	V	H	T	Q	SFR	D	3990 San Antonio Rd	YL	85	92886	740H2	OTHR/0	4	3/2	2	3	3,291	1989	$949,900	37	v
50	S563152	A	1		H	T	Q	SFR	D	3968 Tipperary Ct	YL	85	92886	740b2	OTHR/4	4	4/3	2	2 A	3,416	2009	$963,990	79
51	P636954	A	20		H	T	Q	SFR	D	5200 Mountain View Ave	YL	85	92886	740C5	CUST/0	4	3/2	3	3 A	3,200	1993	$989,000	354	*
52	P674143	A	9		H	T	Q	SFR	D	20316 Via Oporto	YL	85	92886	740F5	ELSH/5	3	3/2	2	2 A	2,403	1987	$989,000	85	*
53	P683075	A	15	V	H	T	Q	SFR	D	5731 Stradella Rd	YL	85	92886	740D6	OTHR/*	5	5/3	1	2	3,300	1958	$995,000	21

Yorba Linda Real Estate Agents Top 5 Reasons You Need a Realtor for Yorba Linda Homes

Re-blogged by 0 agents

Why Even Use a Realtor? Top 5 Reasons from a Yorba Linda Placentia Realtor (edit/delete)

A Placentia Yorba Linda Real Estate Agent’s Top 5 Reasons to Use a Realtor:

I was noticing from talking to my clients that people don’t like to sit around when they’re ready to buy a home….they are actively looking online themselves.

The problems with this is that you have people looking on Zillow.com and Realtor.com and Redfin.com and finding homes that are often already off the market, in escrow, or sold.  Also, these websites do not let the consumer exclude or include features or special conditions (e.g. “short sales”).  So, I will often get emails from my clients with MLS #’s saying they would like to see these homes.  Don’t get me wrong, Zillow.com and Realtor.com can be good sources of information.  However, when it comes to finding homes that are currently on the market, these websites are not always the most up-to-date and reliable.  The price of the home may be different now, or, as mentioned, the home is already sold.

So, reasons to use a Realtor to help you find a home?

#1   They have access to the world’s most powerful home-searching tool — the MLS.  “Oh, but Nic, I’m searching the MLS through a Realtor’s website or through Redfin or Zillow,” one may say.  Yes, but the MLS on these sites does not allow you to eliminate certain features or add certain features that can streamline your search and save you hours or even days of looking, spinning your wheels and wasting time. 

#2   Private Remarks.   Real estate agents are privy to what are called “Agent Private Remarks” when they pull up a property profile off the MLS.  Real estate agents will give out insider info on a property or sometimes sensitive information that the public is not aware of which could be extremely valuable.  For example, the private remarks could read that the home is not available to show until June 1st, which would save someone from driving to the property and spinning their wheels when the home really isn’t even able to be shown.

#3   Market Knowledge.  This is one of the main reasons people hire a professional.  They want someone who knows the market, who knows the area, who knows what homes are really selling for in a given area.  This kind of knowledge is invaluable when it comes to putting an offer on a home.  The agent can run “comps,” or comparables of all recent sold homes in the neighborhood area to find what a home should REALLY sell for. 

#4   Negotiations.  Buying and selling a home is not a cut-and-dry venture.  The price of a home is rarely fixed and it is up to the skilled communicator and negotiator to hammer out a deal for their client.  Most people would rather have a professional handle this on their behalf.

#5   Peace of Mind.  What would you pay for peace of mind knowing that your Realtor has the situation under control.  Your Realtor is handling the paperwork, checking the deadlines, protecting you from potential legal pitfalls or problems with the property.  If you have someone strong and reliable in your court, you can rest your head at night knowing that it’s all going to work out.

 

Contact Nic Petrossi for a market evaluation of your home’s value and to put your home on the market.

Nic Petrossi specializes in Yorba Linda Homes, Placentia Homes, Brea Homes, Fullerton Homes, Anaheim Hills Homes and all of Northeast Orange County.

(714) 272-3646  Cell

Click here for Nic’s website ——>   WEBSITE

NIC PETROSSI (714) 272-3646 Brea Realtor Placentia Realtor Fullerton Realtor Yorba Linda Realtor

Ladies and Gentlemen,

The Market is changing.  Dramatically.

There are dozens of Brea real estate agents, Yorba Linda real estate agents, Placentia real estate agents, Fullerton real estate agents, Anaheim Hills real estate agents from large firms (e.g. Prudential, C-21, Seven Gables, REMAX) who are saying it is EXTREMELY difficult to get their buyers into a property.

What does this suggest???

The market is shifting right in front of our eyes.  I’m coming out now to say — WE’VE HIT THE BOTTOM…at least in the under $500K price range for homes in excellent condition. When it comes to the $300K price range in Northeast Orange County, fuggetaboutit.  What would you say if I told you there are properties with 10, 20, 30 offers on them going for $100K over asking price?  That’s right, if it sounds too good to be true, it is.  A fellow agent in my office made an offer with a client on a home listed at $289,000.  His client’s offer?  $320,00.  He went up to $331,000.  The assistant for the listing agent of this Bank Owned property in Anaheim called to tell him the bad news:

   “Aaron, we have an offer for $370,000.”

             Fuggetaboutit

It’s time to stop listening to what your friends and family are saying or what you’re hearing on TV or reading in the paper…if you want a nice home for a nice price this year, you need to get your “ducks in a row.”  You need to get pre-qualified, you (and your real estate agent) need to be constantly watching for the properties to pop on the market.  This is beginning to look a lot like 2002 again except the banks aren’t going to let it get away from them again and have it crash down on their heads.  The safeguard will be VERIFY, VERIFY, VERIFY.  Verify income, verify downpayment, verify DTI.

Call Nic Petrossi, Prudential for any questions, dialogue, to start the process of finding that right home for you.  Need to sell your home?  I do that too.   (714) 272-3646  cell  (714) 257-3606 office 

npetrossi@yahoo.com

Click here for website:       CLICK HERE!

Placentia Homes & Yorba Linda Homes “When Cometh the Bottom?”

Isn’t THAT the million dollar question…

Well, no one has the crystal ball, but we all have our sources of knowledge and expertise to try to gauge when we’ll see the up-swing.

Some are saying that the bottom has already come.

Some are saying that we won’t see it for some time.

I say, I don’t know for sure, but what I do know for Orange County, CA is this:

The Below $500K Market is already there. 

We are seeing good properties under $500K being snatched up within a week in Northeast Orange County (Placentia, Yorba Linda, Brea, Fullerton, Anaheim, Anaheim Hills).  There are multiple offers on properties that are in good condition.  So, essentially, we are THERE for that price range.

What about the over $500,000 range?  When will we see the bottom for THOSE homes?

  A great article came out in the Orange County Register (our local newspaper) by Jonathan Lansner.  He interviewed a private banker, Ray Dellerba, CEO of Pacific Mercantile Bank in Costa Mesa.  Dellerba nailed the downturn by getting OUT of residential lending late 2005.  He just started lending on residential properties again.  Four decades of banking and that kind of foresight makes you listen when he talks.  When asked his prediction of the “bottom,” Dellerba replied “November” without a flinch.  His reasoning?  People are sick of being in the dumps and tight with their money and those with jobs will want a good Christmas for their family. 

What is MY prognostication? 

        Summer of this year, July.  Government incentives, especially for first time buyers, still-high FHA loan limits, low interest rates, and considerably less REO / short sale inventory in Northeast O.C. will fuel the best housing market we’ve seen since 2004.  

I welcome your comments.

Nic Petrossi, Prudential CA Realty

(714) 272-3646 

npetrossi@yahoo.com

Click Here for WEBSITE —>

Click here