Archive for March, 2010

Continued Signs of Improvement

Saturday, March 27th, 2010

When I last wrote about the market conditions, Southern California was starting to show signs of recovery. From reduced mortgage defaults to increases in sales, there was much good news. Since that last article even more good news has come forth. Southern California median home prices and sales volume increased in the month of February in Orange, Los Angeles, Riverside, San Diego, Ventura, San Bernardino counties—all strong indicators that buyers and investors are taking advantage of the extended tax credit and government backed mortgages.

The median price was up 1.3 percent from January, 2010, and up 10 percent from February 2009. 38.5 percent of home purchases in February were FHA loans, while investment and second home purchases accounted for 18.9 percent of February sales.1 In addition, foreclosure related filings have leveled off in February for the first time since January 2006 according to RealtyTrac.2

Locally, Laguna Beach’s median home price is $1,600,000, which is up by 23. 1 percent.3 Home pricing is up in 56 percent of Orange County’s 83 zip codes and 28 zip codes saw both sales and price gains.4

The preceding good news continues the trend of positive data that started last year. I am optimistic that this year will continue to see an upward trend in good news. Let one of our Coldwell Banker associates help evaluate the right location and property for you—and don’t forget to ask about the soon-to-expire Extended and Expanded Homebuyer Buyer Tax Credit. Also, visit www.OCViewOnline.com today to view available open houses and to search our fine properties.

1 “Southern California median price and sales volume up.” DQNews.com March 16, 2010.
Http://www.dqnews.com/Articles/2010/News/California/Southern-CA/RRSCA100316.aspx

2 “Foreclosures Level off in February.” March 11, 2010. Inmannews.com http://www.inman.com/news/2010/03/11/foreclosures-level-in-february

3 “Laguna’s median home selling price up 23% .” March 16, 2010. OCRegister.com. http://lagunahomes.freedomblogging.com/2010/03/16/lagunas-median-home-selling-price-up-23/2011

4 “Home sales, prices up in 28 OC ZIPs.” March 16, 2010. OCRegister.com. http://lansner.freedomblogging.com/2010/03/16/home-sales-prices-up-in-289-oc-zips/59659/#more-59659

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California Lawmakers Vote To Extend Home Buyer Tax Credit

Tuesday, March 23rd, 2010

With the first-time home buyer tax credit to expire in 39 days, California lawmakers have voted to extend a $10,000 tax credit for first-time home buyers through the end of 2010. The credit will apply to first time home buyers who purchase new or existing homes between May 1 and December 31 of this year. The tax credit would be for 5 percent of the purchase price or up to $10,000…

Read the full article at the KCRA.com Web site.


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Follow Four Helpful Tips for Spring Staging

Saturday, March 20th, 2010

Spring is here and after our wet winter, it’s time to enjoy warmer weather, blooming flowers and the return of green in the surrounding foothills. The tradition of “spring cleaning” can take on new meaning in today’s real estate market as a great way to prepare and stage your home before listing it on the market or to help it sell faster.

Since it takes only 15 seconds for a buyer to develop an opinion on your house, a good first impression is critical. Carole Meikle, a REALTOR® with the Quail Hill – Irvine office who assists her clients with professional staging, shares her secret to a great first impression: “The secret to successful home staging is emotion. Emotion creates attraction. Utilizing innovative staging techniques, you can create environments where buyers can become emotionally connected and the properties sell quickly for top dollar.”

There are simple, cost effective ways of cleaning and staging your property at the same time in order to appeal to a homebuyer’s senses. Here are a few tips that will help your property stand out from the competition.

Create a model home atmosphere:
Use decorations that accent the home’s architectural features and room dimensions, and present a cohesive decorative theme without over-personalizing.

Repair simple cosmetic issues:
Maintain the finer details of the home by repairing all cosmetic cracks and nail holes.

Appeal to the homebuyer’s “senses”:
- Light: Keep all windows clean and use mirrors to magnify light and space.
- Color: Neutral interior colors are the safest choices for paint and avoid high patterned wallpaper.
- Scent: Keep the scent of the home new and clean by using lemon oil or wax while cleaning.

Room by Room Cleanliness:
Keep all rooms free from clutter and clean carpeted areas and floors. Replace any outdated fixtures and cabinet hardware in the kitchen and baths. Also, replace worn accent rugs in bedrooms and used shower curtains and mats in the baths.

Visit www.OCViewOnline.com to find one of our wonderful agents who can help you learn about staging and how it can affect the sale of your home.

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Coldwell Banker Still the Leader in Online Real Estate Technology

Saturday, March 13th, 2010

Since its launch in May 2009, Coldwell Banker’s YouTube channel, “Coldwell Banker® On Location,” has become YouTube’s most visited real estate channel with over 778,000 visits and over 6,000 videos uploaded. Coldwell Banker® On Location, www.youtube.com/coldwellbanker, gives consumers access to videos of home tours, neighborhood features, local market conditions and trends, tips for homebuyers and
sellers and much more.

One of the unique aspects of Coldwell Banker® On Location is the ability to search for videos through a special map feature developed specifically for the site. The map “widget” gives you the ability to easily search for videos located in the area you are interested in by dragging the blue map icon to the city or neighborhood of your choice. Alternatively, you can search by typing the city, state or zip code in the
“Look up videos by location” search box. These easy to use search options make finding your next home on YouTube hassle-free.

To learn more about Coldwell Banker and YouTube or to find your next home, visit www.youtube.com/coldwellbanker.com or www.OCViewOnline.com to search for open houses, area offices and to browse through our directory of experienced sales associates.

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Time is Running Out to Take Advantage of the Homebuyer’s Tax Credit

Saturday, March 6th, 2010

Don’t miss the opportunity to be eligible for a tax credit on the purchase of a home.This is said to be the last tax credit that the government will offer, which was extended to April 30 for first time homebuyers and existing homeowners on November 6, 2009.

First time homebuyers can receive a credit of up to $8,000, while existing homeowners, who have owned their current homes for at least five years, are eligible for tax credits of up to $6,500 when they purchase a new home. To qualify, buyers in both groups must enter into a binding purchase agreement by April 30, 2010 and close by June 30, 2010.*

The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.

Under additional provisions in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The bill contains the provision that homebuyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase. It also waives this requirement for active duty military personnel who move due to a military order.

To find a local agent or to search for your future home visit www.OCViewOnline.com

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Coldwell Banker Receives J.D. Power and Associates Award

Friday, March 5th, 2010

Coldwell Banker Real Estate was recently recognized for ranking “Highest in Customer Satisfaction For Home Sellers Among National Full Service Real Estate Firms” by J.D. Power and Associates.

For J.D. Power and Associates award information, please visit www.jdpower.com.

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Are Multi-Generational Homes a Trend in Real Estate?

Thursday, March 4th, 2010

Coldwell Banker Real Estate LLC recently conducted a survey to see if multi-generational homes are becoming a trend in real estate purchases. The following video gives some detail on this multi-generational study and features Coldwell Banker consumer spokesperson, Diann Patton.  Click here for more information.

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