Mission Viejo and Orange County, California Real Estate Blog

Melinda Heights in RSM - Do not miss this chance to own in a Great neighborhood
March 4th, 2010 11:02 AM

Posted by Gail McClendon on March 4th, 2010 11:02 AMPost a Comment (0)

Buena Park - Great price - Wonderful area
March 4th, 2010 10:54 AM

Posted by Gail McClendon on March 4th, 2010 10:54 AMPost a Comment (0)

Real Estate update - Existing-Home Sales Down in January 2010 but Higher Than Year Ago
March 4th, 2010 10:50 AM

RISMEDIA, March 4, 2010—Existing-home sales fell in January 2010 but are above year-ago levels, according to the National Association of Realtors. Existing-home sales- including single-family, townhomes, condominiums and co-ops- dropped 7.2% to a seasonally adjusted annual rate of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5% above the 4.53 million-unit level in January 2009.

Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”

Total housing inventory at the end of January fell 0.5% to 3.27 million existing homes available for sale, which represents a 7.8-month supply at the current sales pace, up from a 7.2-month supply in December. Raw unsold inventory is 9.6% below a year ago, and is at the lowest level since March 2006.

“Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory,” Yun said. “With a downtrend in the number of homes on the market, especially in the lower price ranges, values are beginning to firm but with great variance around the country.”

The national median existing-home price for all housing types was $164,700 in January, unchanged from a year earlier. Distressed homes, which accounted for 38% of sales last month, continue to downwardly distort the median price because they typically are discounted in comparison with traditional homes in the same area.

A parallel NAR practitioner survey shows first-time buyers purchased 40% of homes in January, down from 43% in December. Investors accounted for 17% of transactions in January, up from 15% in December; the remaining sales were to repeat buyers. The survey also shows that buyer traffic increased 9.4% in January.

NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said buying a home in the current environment has become more challenging. “First-time buyers and others who need a mortgage are increasingly losing out to all-cash investors for the best bargains in many areas, particularly for foreclosed homes where cash is king,” she said. “Inventory conditions vary by price range, and of course there are major differences depending on location. Realtors are the best buyer resource for strategies on winning bids in increasingly competitive markets,” Golder said. “The bidding for more desirable homes will only accelerate between now and the April 30 contract deadline to qualify for a tax credit of up to $8,000.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 5.03% in January from 4.93% in December; the rate was 5.05% in January 2009.

Single-family home sales fell 6.9% to a seasonally adjusted annual rate of 4.43 million in January from a level of 4.76 million in December, but are 8.6% above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4% from a year ago.

Existing condominium and co-op sales dropped 8.1% to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1% above the 449,000-unit level a year ago. The median existing condo price was $172,400 in January, which is 1.4 % higher than January 2009.

Northeast
Regionally, existing-home sales in the Northeast fell 10.9% to an annual pace of 820,000 in January but are 22.4% above a year ago. The median price in the Northeast was $245,300, a gain of 8.8% from January 2009.

Midwest
Existing-home sales in the Midwest declined 6.9% in January to a level of 1.08 million but are 8.0% higher than January 2009. The median price in the Midwest was $130,300, which is 1.0% below a year ago.

South
In the South, existing-home sales dropped 7.4% to an annual pace of 1.87 million in January but are 12.0% above a year ago. The median price in the South was $140,200, down 2.0% from January 2009.

West
Existing-home sales in the West declined 5.2% to an annual rate of 1.28 million in January but are 7.6% higher than January 2009. The median price in the West was $203,400, down 5.8% from a year ago.


Posted by Gail McClendon on March 4th, 2010 10:50 AMPost a Comment (0)

Housing and Economy Headed for Sustainable Recovery; First-Time Homebuyers Lead the Way
November 18th, 2009 9:36 AM

RISMEDIA, November 18, 2009—Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”

The 2009 National Association of Realtors® Profile of Home Buyers and Sellers, shows first-time buyers accounted for a record 47% share of home sales over the past year, up from 41% in the 2008 survey. The share has risen steadily since a cyclical low of 36% in 2006.

Existing-home sales are expected to total 5.01 million in 2009, a gain of 2.0% over last year, and then are forecast to rise 13.6% to 5.69 million in 2010. “A steady draw down of inventory will help home values to turn positive in 2010, but risks such as unemployment remain in the economy,” Yun said.

New-home sales are projected at 397,000 this year, recovering to 549,000 in 2010. Housing starts, including multifamily units, should total 564,000 units this year but grow to 752,000 in 2010.

The 30-year fixed-rate mortgage will probably average 5.3% in the fourth quarter, rising gradually to 5.8% by the end of next year. NAR’s housing affordability index will set a record in 2009, averaging 30 percentage points higher than 2008. Affordability will decline from record highs next year but will remain at historically attractive levels for home buyers.

“We’ve seen a steady downtrend in housing inventory for well over a year and home prices appear to be in the early stages of stabilizing. With the expansion of the tax credit to additional buyers through the middle of next year, and no major unforeseen events impacting the economy, home prices should rise between 3 and 5% in 2010, but with wide geographic differences,” Yun said. He expects growth in the U.S. gross domestic product to be at a pace of 2.5% in the current quarter, with GDP up 2.8% in 2010.

The unemployment rate is close to peaking and is projected to ease to 9.5% by the end of next year.

“The size of the U.S. budget deficit is a concern going forward, and carries the risk of higher inflation. At this point, that risk appears to be restrained,” Yun said. Inflation, as measured by the Consumer Price Index, is seen contracting 0.4% this year, then rising 1.6% in 2010. Inflation-adjusted disposable personal income is estimated to grow 0.4% this year and 1.2% next year.

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Update on Bank owned homes available in Mission Viejo - For more information or to see these homes call Gail @ 949 422-4343. You can also visit www.viphousesearch.com to view more Bank owned, Foreclosed homes in other cities.

 
Gail McClendon  Residential    
27951 Redondela 201    
Click for more pictures ... 
Mission Viejo Central (MC)
Orange County (OR)

Media: 3
 
 

Listing Activity


Contact Information

 


Gail McClendon  Residential    
27754 La Costa 13    
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Mission Viejo Central (MC)
Orange County (OR)

Media: 8
Assessor 
 

Listing Activity


Contact Information

 



If a listing displays "Short Sale/Subj to Lender Approval**" then that listing has been identified by the seller and the listing broker as a "short sale". This means that, at the listed price, the proceeds from the sale may not be adequate to pay all liens and costs of sale. Any offer made that does not fully cover the existing amount(s) owed to the lienholder(s) plus the costs of sale could be subject to lienholder approval, which approval may be exercised at the sole and exclusive discretion of the lienholder(s). The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. © Copyright, SoCalMLS®, Copyright, CRISNet Regional MLS®, Copyright, CARETS®


 

 

Gail McClendon  Residential    
24146 Juaneno Dr    
Click for more pictures ... 
Mission Viejo Central (MC)
Orange County (OR)

Media: 10
Assessor 
 

Listing Activity


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Gail McClendon  Residential    
64 MELROSE Dr    
Click for more pictures ... 
Mission Viejo Central (MC)
Orange County (OR)

Media: 6
Estimated 
 

Listing Activity


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If a listing displays "Short Sale/Subj to Lender Approval**" then that listing has been identified by the seller and the listing broker as a "short sale". This means that, at the listed price, the proceeds from the sale may not be adequate to pay all liens and costs of sale. Any offer made that does not fully cover the existing amount(s) owed to the lienholder(s) plus the costs of sale could be subject to lienholder approval, which approval may be exercised at the sole and exclusive discretion of the lienholder(s). The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. © Copyright, SoCalMLS®, Copyright, CRISNet Regional MLS®, Copyright, CARETS®


 

 

Gail McClendon  Residential    
24642 Chrisanta Dr    
Click for more pictures ... 
Mission Viejo Central (MC)
Orange County (OR)

Media: 7
Assessor 
 

Listing Activity


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Gail McClendon  Residential    
24831 San Andres Ln    
Click for more pictures ... 
Mission Viejo Central (MC)
Orange County (OR)

Media: 2
Assessor 
 

Listing Activity


Contact Information

 



If a listing displays "Short Sale/Subj to Lender Approval**" then that listing has been identified by the seller and the listing broker as a "short sale". This means that, at the listed price, the proceeds from the sale may not be adequate to pay all liens and costs of sale. Any offer made that does not fully cover the existing amount(s) owed to the lienholder(s) plus the costs of sale could be subject to lienholder approval, which approval may be exercised at the sole and exclusive discretion of the lienholder(s). The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. © Copyright, SoCalMLS®, Copyright, CRISNet Regional MLS®, Copyright, CARETS®


 

 

Gail McClendon  Residential    
26264 Via Roble 38    
Click for more pictures ... 
Mission Viejo North (MN)
Orange County (OR)

Media: 1
Other 
 

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Gail McClendon  Residential    
18 Copperstone Ln    
Click for more pictures ... 
Mission Viejo North (MN)
Orange County (OR)

Media: 5
Assessor 
 

Listing Activity


Contact Information

 





Posted by Gail McClendon on November 18th, 2009 9:36 AMPost a Comment (0)

Just Listed! 2 Ametrine Way Rancho Santa Margarita, CA 92688
October 30th, 2009 11:31 AM
Header
Header_2
Listings Photo
$448,885.00
2 Ametrine Way

Rancho Santa Margarita, CA 92688



Beds: 3.0 Rooms: 0
Baths: 2.00 Sq. Ft.: 1500.00
Garage: 0 Built: 1998
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Gail McClendon
Century 21 Beachside on Lake Mission Viejo
9494224343
www.viphousesearch.com



 
  Visit this listing at Here

Posted by Gail McClendon on October 30th, 2009 11:31 AMPost a Comment (0)

Foreclosure Update
October 30th, 2009 11:02 AM

As Some Top Metro Foreclosure Activity Rates Decrease, New Foreclosure Hot Spots Emerge in Q3 2009

Las Vegas, Merced and Cape Coral-Fort Myers Register Top Metro Foreclosure Rates; High Foreclosure Rates Spreading to New Metros in Several States

  • Press Release
  • Source: RealtyTrac
  • On 12:00 am EDT, Wednesday October 28, 2009

IRVINE, CA--(Marketwire - 10/28/09) - RealtyTrac? (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q3 2009 Metropolitan Foreclosure Market Report, which shows that cities in California, Florida and Nevada accounted for the 10 highest foreclosure rates in the third quarter among metro areas with a population of 200,000 or more.

But five of those Top 10 metro areas reported decreasing foreclosure activity from the third quarter of 2008, while many other metro areas with Top 50 foreclosure rates reported sharp increases in foreclosure activity.

"Rising unemployment and a new variety of mortgage resets continued to gradually shift the nation's foreclosure epicenters in the third quarter away from the hot spots of the last two years and toward some metro areas that had avoided the brunt of the first foreclosure wave," said James J. Saccacio, chief executive officer of RealtyTrac. "While toxic subprime mortgages drove much of that first wave of foreclosures, high unemployment and exotic Alt-A Option ARMs are spreading the foreclosure flood to more metro areas in 2009."

New foreclosure hot spots flare up

Among the top 50 metro foreclosure rates, the three biggest year-over-year increases were in Boise City-Nampa, Idaho, and Provo-Orem and Salt Lake City in Utah. In several states the largest increases were posted in cities not previously a focal point for foreclosure activity. The Chico metro area posted the biggest year-over-year increase in California, with foreclosure activity up 98 percent from the third quarter of 2008. The medium-sized metro about 100 miles north of Sacramento had a 12.8 percent unemployment rate in August, above the state and national averages.

A similar trend was seen in cities like Reno-Sparks, Nev., with an 80 percent year-over-year increase in foreclosure activity, Prescott, Ariz., with a 77 percent increase, Jacksonville, Fla., with a 64 percent increase, Rockford, Ill., with a 64 percent increase, and Lansing-East Lansing, Mich., with a 41 percent increase.

Top metro foreclosure rates

Las Vegas posted the nation's highest metro foreclosure rate, with 5.13 percent (one in 20) of its housing units receiving a foreclosure filing during the quarter -- nearly seven times the national average. A total of 40,408 Las Vegas properties received a foreclosure filing during the quarter, an increase of nearly 9 percent from the previous quarter and an increase of nearly 54 percent from the third quarter of 2008.

Despite a 13 percent decrease in foreclosure activity from the previous quarter, Merced, Calif., posted the nation's second highest foreclosure rate, with 3.72 percent (one in 27) of its housing units receiving a foreclosure filing during the third quarter. A total of 3,092 Merced properties received a foreclosure filing during the quarter, down 11 percent from the third quarter of 2008.

Foreclosure activity in the Cape Coral-Fort Myers metro area in Florida also decreased from the previous quarter and from the third quarter of 2008, but the metro area still registered the nation's third highest metro foreclosure rate -- with 3.67 percent (one in 27) of its housing units receiving a foreclosure filing during the quarter. A total of 13,206 Cape Coral-Fort Myers properties received a foreclosure filing during the quarter, a decrease of 5 percent from the previous quarter and down 2 percent from the third quarter of 2008.

Other metro areas in the top 10 were the California cities of Stockton (3.53 percent), Modesto (3.39 percent), Riverside-San Bernardino (3.37 percent), Bakersfield (2.88 percent), and Vallejo-Fairfield (2.85 percent), along with the Reno-Sparks metro area in Nevada (2.67 percent) and the Florida metro areas of Port St. Lucie (2.63 percent) and Orlando-Kissimmee (2.57 percent).

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the third quarter of 2009. Data is also available at the individual county level and MSA level. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac's report incorporates documents filed in all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the quarter, only the most recent filing is counted in the report.

?
                    U.S. Metro Foreclosure Market Data - Q3 2009
                               Properties         1/      %          %
                                  with      %    every  change     change
Rate                               FC    Housing   X     from       from
Rank         Metro Name          Filings  Units   HU    Q2 2009    Q3 2008
---  --------------------------  -------  ----  -----  --------  ---------
--   U.S. Total                  937,840  0.73    136      5.40      22.50
---  --------------------------  -------  ----  -----  --------  ---------
1    Las Vegas-Paradise, NV
      Total                       40,408  5.13     20      8.82      53.62
---  --------------------------  -------  ----  -----  --------  ---------
2    Merced, CA Total              3,092  3.72     27    -13.32     -11.12
---  --------------------------  -------  ----  -----  --------  ---------
3    Cape Coral-Fort Myers, FL
      Total                       13,206  3.67     27     -5.19      -2.19
---  --------------------------  -------  ----  -----  --------  ---------
4    Stockton, CA Total            8,000  3.53     28      1.63      -3.05
---  --------------------------  -------  ----  -----  --------  ---------
5    Modesto, CA Total             5,883  3.39     30     -3.03      -0.12
---  --------------------------  -------  ----  -----  --------  ---------
6    Riverside-San Bernardino-
      Ontario, CA Total           48,416  3.37     30     -7.91      11.83
---  --------------------------  -------  ----  -----  --------  ---------
7    Bakersfield, CA Total         7,753  2.88     35     -7.64      14.25
---  --------------------------  -------  ----  -----  --------  ---------
8    Vallejo-Fairfield, CA
      Total                        4,266  2.85     35     -3.83      -3.37
---  --------------------------  -------  ----  -----  --------  ---------
9    Reno-Sparks, NV Total         4,787  2.67     37     14.17      80.44
---  --------------------------  -------  ----  -----  --------  ---------
10   Port St. Lucie, FL Total      5,434  2.63     38     28.19      40.05
---  --------------------------  -------  ----  -----  --------  ---------
11   Orlando-Kissimmee, FL
      Total                       22,700  2.57     39      5.07      41.92
---  --------------------------  -------  ----  -----  --------  ---------
12   Phoenix-Mesa-Scottsdale,
      AZ Total                    40,566  2.43     41      4.72      18.56
---  --------------------------  -------  ----  -----  --------  ---------
13   Sacramento--Arden-Arcade--
      Roseville, CA Total         19,068  2.25     44      1.89      19.10
---  --------------------------  -------  ----  -----  --------  ---------
14   Miami-Fort Lauderdale-
      Pompano Beach, FL Total     53,710  2.23     45     -5.20      34.67
---  --------------------------  -------  ----  -----  --------  ---------
15   Fresno, CA Total              5,860  1.93     52     -7.75      16.48
---  --------------------------  -------  ----  -----  --------  ---------
16   Salinas, CA Total             2,537  1.82     55     -8.38     -20.89
---  --------------------------  -------  ----  -----  --------  ---------
17   Visalia-Porterville, CA
      Total                        2,439  1.80     56     -9.16      26.24
---  --------------------------  -------  ----  -----  --------  ---------
18   Lakeland, FL Total            4,907  1.77     57     11.32      41.49
---  --------------------------  -------  ----  -----  --------  ---------
19   Boise City-Nampa, ID Total    4,157  1.76     57     22.16    141.55*
---  --------------------------  -------  ----  -----  --------  ---------
20   San Diego-Carlsbad-San
      Marcos, CA Total            18,519  1.63     61     -5.09       7.21
---  --------------------------  -------  ----  -----  --------  ---------
21   Provo-Orem, UT Total          2,316  1.63     61     10.87     119.94
---  --------------------------  -------  ----  -----  --------  ---------
22   Oxnard-Thousand Oaks-
      Ventura, CA Total            4,434  1.63     61      0.50      17.15
---  --------------------------  -------  ----  -----  --------  ---------
23   Los Angeles-Long Beach-
      Santa Ana, CA Total         69,403  1.58     63      2.07      32.38
---  --------------------------  -------  ----  -----  --------  ---------
24   Naples-Marco Island, FL
      Total                        2,997  1.56     64    -15.65      -4.49
---  --------------------------  -------  ----  -----  --------  ---------
25   Deltona-Daytona Beach-
      Ormond Beach, FL Total       3,697  1.50     67     -6.81      27.70
---  --------------------------  -------  ----  -----  --------  ---------
26   Jacksonville, FL Total        8,654  1.48     68      1.80      63.50
---  --------------------------  -------  ----  -----  --------  ---------
27   Ocala, FL Total               2,342  1.47     68    -10.85      31.06
---  --------------------------  -------  ----  -----  --------  ---------
28   Santa Rosa-Petaluma, CA
      Total                        2,898  1.47     68      2.04      19.51
---  --------------------------  -------  ----  -----  --------  ---------
29   Prescott, AZ Total            1,508  1.44     69      3.86      76.58
---  --------------------------  -------  ----  -----  --------  ---------
30   Sarasota-Bradenton-Venice,
      FL Total                     5,528  1.42     71     -0.11      -6.59
---  --------------------------  -------  ----  -----  --------  ---------
31   Palm Bay-Melbourne-
      Titusville, FL Total         3,709  1.40     71     11.62      10.32
---  --------------------------  -------  ----  -----  --------  ---------
32   San Francisco-Oakland-
      Fremont, CA Total           22,876  1.35     74      6.56      22.06
---  --------------------------  -------  ----  -----  --------  ---------
33   Greeley, CO Total             1,234  1.33     75      9.01      23.52
---  --------------------------  -------  ----  -----  --------  ---------
34   Tampa-St. Petersburg-
      Clearwater, FL Total        17,012  1.29     77     -6.13      -4.99
---  --------------------------  -------  ----  -----  --------  ---------
35   San Jose-Sunnyvale-Santa
      Clara, CA Total              8,185  1.29     77      2.68      28.76
---  --------------------------  -------  ----  -----  --------  ---------
36   Fayetteville-Springdale-
      Rogers, AR-MO Total          2,250  1.23     82      4.65     53.27*
---  --------------------------  -------  ----  -----  --------  ---------
37   Chico, CA Total               1,156  1.22     82     33.80      97.61
---  --------------------------  -------  ----  -----  --------  ---------
38   Santa Barbara-Santa
      Maria-Goleta, CA Total       1,790  1.18     85     11.39       5.85
---  --------------------------  -------  ----  -----  --------  ---------
39   Atlanta-Sandy Springs-
      Marietta, GA Total          24,787  1.17     85      4.88      13.90
---  --------------------------  -------  ----  -----  --------  ---------
40   Detroit-Warren-Livonia,
      MI Total**                  21,978  1.16     86      7.35       1.89
---  --------------------------  -------  ----  -----  --------  ---------
41   Salt Lake City, UT Total      4,231  1.08     93     28.52     105.19
---  --------------------------  -------  ----  -----  --------  ---------
42   Tucson, AZ Total              4,430  1.04     96      1.12      53.13
---  --------------------------  -------  ----  -----  --------  ---------
43   San Luis Obispo-Paso
      Robles, CA Total             1,155  1.00    100      1.76      53.18
---  --------------------------  -------  ----  -----  --------  ---------
44   Santa Cruz-Watsonville,
      CA Total                     1,015  0.99    101    -11.51      12.40
---  --------------------------  -------  ----  -----  --------  ---------
45   Flint, MI Total**             1,787  0.91    110      5.61      25.93
---  --------------------------  -------  ----  -----  --------  ---------
46   Washington-Arlington-
      Alexandria, DC-VA-MD-WV
      Total                       19,318  0.91    110     22.22       9.25
---  --------------------------  -------  ----  -----  --------  ---------
47   Denver-Aurora, CO Total       9,235  0.89    113      5.48      -1.58
---  --------------------------  -------  ----  -----  --------  ---------
48   Chicago-Naperville-Joliet,
      IL-IN-WI Total              33,065  0.88    113      6.79      28.46
---  --------------------------  -------  ----  -----  --------  ---------
49   Rockford, IL Total            1,224  0.85    117     24.14      63.86
---  --------------------------  -------  ----  -----  --------  ---------
50   Lansing-East Lansing,
      MI Total**                   1,653  0.84    119      4.95      40.92
---  --------------------------  -------  ----  -----  --------  ---------
51   Pensacola-Ferry Pass-
      Brent, FL Total              1,637  0.83    120     13.05      23.27
---  --------------------------  -------  ----  -----  --------  ---------
52   Fort Collins-Loveland,
      CO Total                     1,027  0.81    124     64.58      63.28
---  --------------------------  -------  ----  -----  --------  ---------
53   Cleveland-Elyria-Mentor,
      OH Total                     7,309  0.77    129     11.30      -1.04
---  --------------------------  -------  ----  -----  --------  ---------
54   Grand Rapids-Wyoming,
      MI Total**                   2,415  0.76    132      8.93      25.52
---  --------------------------  -------  ----  -----  --------  ---------
55   Memphis, TN-MS-AR Total       4,125  0.75    133     -4.11     -19.90
---  --------------------------  -------  ----  -----  --------  ---------
56   Colorado Springs, CO Total    1,926  0.75    133      1.21      15.95
---  --------------------------  -------  ----  -----  --------  ---------
57   Ogden-Clearfield, UT Total    1,317  0.74    134    -17.17      50.34
---  --------------------------  -------  ----  -----  --------  ---------
58   Minneapolis-St. Paul-
      Bloomington, MN-WI Total     9,767  0.74    136     13.54      98.68
---  --------------------------  -------  ----  -----  --------  ---------
59   Holland-Grand Haven,
      MI Total**                     718  0.72    140     25.09     124.38
---  --------------------------  -------  ----  -----  --------  ---------
60   Atlantic City, NJ Total         885  0.70    143     33.28       9.26
---  --------------------------  -------  ----  -----  --------  ---------
61   Tulsa, OK Total               2,764  0.70    144     63.84     54.33*
---  --------------------------  -------  ----  -----  --------  ---------
62   Portland-Vancouver-
      Beaverton, OR-WA Total       6,123  0.69    145      4.88      78.36
---  --------------------------  -------  ----  -----  --------  ---------
63   Indianapolis-Carmel, IN
      Total                        5,074  0.68    147    -15.26     -15.84
---  --------------------------  -------  ----  -----  --------  ---------
64   Canton-Massillon, OH Total    1,193  0.67    149    -10.70      -8.16
---  --------------------------  -------  ----  -----  --------  ---------
65   Toledo, OH Total              1,922  0.64    156     -5.69      -3.27
---  --------------------------  -------  ----  -----  --------  ---------
66   Worcester, MA Total           1,990  0.63    159     23.83      21.42
---  --------------------------  -------  ----  -----  --------  ---------
67   Salem, OR Total                 913  0.62    160      4.58      77.97
---  --------------------------  -------  ----  -----  --------  ---------
68   Cincinnati-Middletown,
      OH-KY-IN Total               5,461  0.60    167      8.55       0.53
---  --------------------------  -------  ----  -----  --------  ---------
69   Charleston-North
      Charleston, SC Total         1,693  0.60    167     -0.06      11.16
---  --------------------------  -------  ----  -----  --------  ---------
70   Ann Arbor, MI Total**           880  0.60    167     20.05     -12.70
---  --------------------------  -------  ----  -----  --------  ---------
71   Charlotte-Gastonia-
      Concord, NC-SC Total         4,231  0.60    167     46.30      33.81
---  --------------------------  -------  ----  -----  --------  ---------
72   Savannah, GA Total              850  0.59    169     10.25      77.45
---  --------------------------  -------  ----  -----  --------  ---------
73   Milwaukee-Waukesha-West
      Allis, WI Total              3,833  0.58    171      2.73      24.61
---  --------------------------  -------  ----  -----  --------  ---------
74   Kansas City, MO-KS Total      4,960  0.58    174     26.92     15.43?
---  --------------------------  -------  ----  -----  --------  ---------
75   Gainesville, FL Total           654  0.57    176      9.73      64.74
---  --------------------------  -------  ----  -----  --------  ---------
76   Green Bay, WI Total             758  0.56    177      8.75    149.34*
---  --------------------------  -------  ----  -----  --------  ---------
77   Little Rock-North Little
      Rock-Conway, AR Total        1,605  0.55    183     44.46     35.79*
---  --------------------------  -------  ----  -----  --------  ---------
78   Macon, GA Total                 558  0.54    184    -14.02       6.08
---  --------------------------  -------  ----  -----  --------  ---------
79   Trenton-Ewing, NJ Total         760  0.54    185     46.15     -20.83
---  --------------------------  -------  ----  -----  --------  ---------
80   Jackson, MS Total             1,189  0.54    185     63.10    599.41*
---  --------------------------  -------  ----  -----  --------  ---------
81   Akron, OH Total               1,637  0.53    188     -4.77     -46.69
---  --------------------------  -------  ----  -----  --------  ---------
82   Columbus, OH Total            4,102  0.53    188    -28.83     -33.19
---  --------------------------  -------  ----  -----  --------  ---------
83   Birmingham-Hoover, AL
      Total                        2,622  0.53    190     -1.35    336.27*
---  --------------------------  -------  ----  -----  --------  ---------
84   Greenville-Mauldin-Easley,
      SC Total                     1,412  0.53    190     16.41    176.86*
---  --------------------------  -------  ----  -----  --------  ---------
85   Tallahassee, FL Total           832  0.52    191      1.96      47.52
---  --------------------------  -------  ----  -----  --------  ---------
86   Dayton, OH Total              1,931  0.51    197    -24.36     -20.86
---  --------------------------  -------  ----  -----  --------  ---------
87   Youngstown-Warren-
      Boardman, OH-PA Total        1,316  0.50    199      4.94      25.69
---  --------------------------  -------  ----  -----  --------  ---------
88   Saginaw-Saginaw Township
      North, MI Total**              433  0.49    205      0.46       9.34
---  --------------------------  -------  ----  -----  --------  ---------
89   Bremerton-Silverdale,
      WA Total                       488  0.48    207     11.93      40.63
---  --------------------------  -------  ----  -----  --------  ---------
90   Baltimore-Towson, MD Total    5,330  0.48    208    109.84      95.74
---  --------------------------  -------  ----  -----  --------  ---------
91   Kalamazoo-Portage, MI
      Total**                        684  0.47    211     -7.07      31.29
---  --------------------------  -------  ----  -----  --------  ---------
92   Fort Wayne, IN Total            825  0.46    216    -14.06     -35.34
---  --------------------------  -------  ----  -----  --------  ---------
93   Springfield, MA Total         1,312  0.46    216     34.29      94.08
---  --------------------------  -------  ----  -----  --------  ---------
94   St. Louis, MO-IL Total        5,701  0.46    216     25.43    -12.63?
---  --------------------------  -------  ----  -----  --------  ---------
95   Seattle-Tacoma-Bellevue,
      WA Total                     6,495  0.46    217    -11.21      37.75
---  --------------------------  -------  ----  -----  --------  ---------
96   Dallas-Fort Worth-
      Arlington, TX Total         10,700  0.45    221      4.85       7.86
---  --------------------------  -------  ----  -----  --------  ---------
97   Columbia, SC Total            1,401  0.45    222      9.11      77.34
---  --------------------------  -------  ----  -----  --------  ---------
98   Boulder, CO Total               551  0.45    224     34.39      45.77
---  --------------------------  -------  ----  -----  --------  ---------
99   Mobile, AL Total                791  0.44    226    -10.01     82.68*
---  --------------------------  -------  ----  -----  --------  ---------
100  Boston-Cambridge-Quincy,
      MA-NH Total                  7,962  0.44    229      9.96      19.46
---  --------------------------  -------  ----  -----  --------  ---------
101  Richmond, VA Total            2,215  0.43    230     24.37      89.97
---  --------------------------  -------  ----  -----  --------  ---------
102  Reading, PA Total               690  0.43    232     10.40      16.16
---  --------------------------  -------  ----  -----  --------  ---------
103  Brownsville-Harlingen, TX
      Total                          613  0.43    235     29.05      -1.61
---  --------------------------  -------  ----  -----  --------  ---------
104  Chattanooga, TN-GA Total        971  0.43    235      4.41    12.38??
---  --------------------------  -------  ----  -----  --------  ---------
105  Barnstable Town, MA Total       661  0.42    235     43.07     119.60
---  --------------------------  -------  ----  -----  --------  ---------
106  Eugene-Springfield, OR
      Total                          632  0.42    236      3.44      62.05
---  --------------------------  -------  ----  -----  --------  ---------
107  Greensboro-High Point, NC
      Total                        1,310  0.42    238     19.31      18.44
---  --------------------------  -------  ----  -----  --------  ---------
108  Virginia Beach-Norfolk-
      Newport News, VA-NC Total    2,850  0.42    239     -0.07     35.39?
---  --------------------------  -------  ----  -----  --------  ---------
109  Myrtle Beach-Conway-North
      Myrtle Beach, SC Total         703  0.42    239     -6.89    166.29*
---  --------------------------  -------  ----  -----  --------  ---------
110  Philadelphia-Camden-
      Wilmington, PA-NJ-DE-MD
      Total                        9,912  0.42    241     28.23      10.95
---  --------------------------  -------  ----  -----  --------  ---------
111  Des Moines-West Des
      Moines, IA Total               976  0.41    241     49.24     84.15*
---  --------------------------  -------  ----  -----  --------  ---------
112  Austin-Round Rock, TX
      Total                        2,641  0.41    242     59.10      74.78
---  --------------------------  -------  ----  -----  --------  ---------
113  Albuquerque, NM Total         1,447  0.41    244      9.70     73.09*
---  --------------------------  -------  ----  -----  --------  ---------
114  Hagerstown-Martinsburg,
      MD-WV Total                    460  0.41    245     39.39     109.09
---  --------------------------  -------  ----  -----  --------  ---------
115  New Orleans-Metairie-
      Kenner, LA Total             1,797  0.41    246      8.25      46.93
---  --------------------------  -------  ----  -----  --------  ---------
116  Appleton, WI Total              367  0.41    246     58.87    149.66*
---  --------------------------  -------  ----  -----  --------  ---------
117  Louisville/Jefferson
      County, KY-IN Total          2,217  0.41    246     10.46       7.26
---  --------------------------  -------  ----  -----  --------  ---------
118  South Bend-Mishawaka,
      IN-MI Total                    562  0.40    248     -1.40     -25.37
---  --------------------------  -------  ----  -----  --------  ---------
119  Nashville-Davidson--
      Murfreesboro--Franklin,
      TN Total                     2,572  0.40    249     17.60     3.21??
---  --------------------------  -------  ----  -----  --------  ---------
120  New Haven-Milford, CT
      Total                        1,396  0.40    250     62.70       0.50
---  --------------------------  -------  ----  -----  --------  ---------
121  McAllen-Edinburg-Mission,
      TX Total                       986  0.40    251  1,197.37     101.22
---  --------------------------  -------  ----  -----  --------  ---------
122  Bridgeport-Stamford-
      Norwalk, CT Total            1,394  0.40    251     78.72       6.66
---  --------------------------  -------  ----  -----  --------  ---------
123  Providence-New Bedford-
      Fall River, RI-MA Total      2,679  0.40    252      2.68      20.95
---  --------------------------  -------  ----  -----  --------  ---------
124  Houston-Sugar Land-
      Baytown, TX Total            8,482  0.39    256      1.48      -8.12
---  --------------------------  -------  ----  -----  --------  ---------
125  Winston-Salem, NC Total         804  0.39    257     15.52     -23.28
---  --------------------------  -------  ----  -----  --------  ---------
126  Anchorage, AK Total             543  0.39    258     39.95      29.90
---  --------------------------  -------  ----  -----  --------  ---------
127  Augusta-Richmond County,
      GA-SC Total                    832  0.37    272     18.01      20.23
---  --------------------------  -------  ----  -----  --------  ---------
128  San Antonio, TX Total         2,764  0.37    274      4.50      20.23
---  --------------------------  -------  ----  -----  --------  ---------
129  Allentown-Bethlehem-
      Easton, PA-NJ Total          1,209  0.36    276     15.25     93.13*
---  --------------------------  -------  ----  -----  --------  ---------
130  York-Hanover, PA Total          627  0.36    278    -23.07      24.90
---  --------------------------  -------  ----  -----  --------  ---------
131  Sioux Falls, SD Total           329  0.36    278    116.45     196.40
---  --------------------------  -------  ----  -----  --------  ---------
132  Killeen-Temple-Fort Hood,
      TX Total                       521  0.36    279      6.33      68.61
---  --------------------------  -------  ----  -----  --------  ---------
133  Honolulu, HI Total            1,186  0.35    282     24.84      85.89
---  --------------------------  -------  ----  -----  --------  ---------
134  Columbus, GA-AL Total           453  0.35    283     24.79      24.45
---  --------------------------  -------  ----  -----  --------  ---------
135  Manchester-Nashua, NH
      Total                          558  0.34    290    -16.72     -15.96
---  --------------------------  -------  ----  -----  --------  ---------
136  Springfield, MO Total           623  0.34    294      0.00      0.48?
---  --------------------------  -------  ----  -----  --------  ---------
137  Raleigh-Cary, NC Total        1,428  0.34    298     17.63      11.65
---  --------------------------  -------  ----  -----  --------  ---------
138  New York-Northern New
      Jersey-Long Island,
      NY-NJ-PA Total              24,715  0.33    299     29.43      14.69
---  --------------------------  -------  ----  -----  --------  ---------
139  Olympia, WA Total               332  0.33    302    -19.22      17.31
---  --------------------------  -------  ----  -----  --------  ---------
140  Wichita, KS Total               851  0.33    303     13.92      51.69
---  --------------------------  -------  ----  -----  --------  ---------
141  Madison, WI Total               803  0.33    307      5.66    130.09*
---  --------------------------  -------  ----  -----  --------  ---------
142  Norwich-New London, CT
      Total                          368  0.32    317    102.20      21.45
---  --------------------------  -------  ----  -----  --------  ---------
143  Oklahoma City, OK Total       1,639  0.31    318     79.13     -12.17
---  --------------------------  -------  ----  -----  --------  ---------
144  Montgomery, AL Total            486  0.31    322    -26.92    115.04*
---  --------------------------  -------  ----  -----  --------  ---------
145  Knoxville, TN Total             950  0.31    325      9.70     0.53??
---  --------------------------  -------  ----  -----  --------  ---------
146  Davenport-Moline-Rock
      Island, IA-IL Total            500  0.30    330     25.00      33.69
---  --------------------------  -------  ----  -----  --------  ---------
147  Topeka, KS Total                307  0.30    336     42.13      60.73
---  --------------------------  -------  ----  -----  --------  ---------
148  Hartford-West Hartford-
      East Hartford, CT Total      1,450  0.29    339     56.76      12.93
---  --------------------------  -------  ----  -----  --------  ---------
149  Shreveport-Bossier City,
      LA Total                       498  0.29    346     54.66    277.27*
---  --------------------------  -------  ----  -----  --------  ---------
150  Fort Smith, AR-OK Total         350  0.28    352     -5.15     45.83*
---  --------------------------  -------  ----  -----  --------  ---------
151  Amarillo, TX Total              271  0.28    362     -1.45      12.92
---  --------------------------  -------  ----  -----  --------  ---------
152  Baton Rouge, LA Total           855  0.27    375      7.68    129.22*
---  --------------------------  -------  ----  -----  --------  ---------
153  Yakima, WA Total                220  0.27    376     59.42      84.87
---  --------------------------  -------  ----  -----  --------  ---------
154  Roanoke, VA Total               362  0.26    385    -16.97  1,192.86*
---  --------------------------  -------  ----  -----  --------  ---------
155  Huntsville, AL Total            433  0.26    386    -22.12    108.17*
---  --------------------------  -------  ----  -----  --------  ---------
156  Waco, TX Total                  229  0.25    401     18.65      44.03
---  --------------------------  -------  ----  -----  --------  ---------
157  Pittsburgh, PA Total          2,671  0.24    414    -17.64     -20.34
---  --------------------------  -------  ----  -----  --------  ---------
158  Clarksville, TN-KY Total        246  0.23    442     -3.91   -17.17??
---  --------------------------  -------  ----  -----  --------  ---------
159  Cedar Rapids, IA Total          247  0.22    450     12.79      30.00
---  --------------------------  -------  ----  -----  --------  ---------
160  Lancaster, PA Total             409  0.21    474    -11.28      25.08
---  --------------------------  -------  ----  -----  --------  ---------
161  Corpus Christi, TX Total        361  0.21    487      7.76      -9.75
---  --------------------------  -------  ----  -----  --------  ---------
162  Buffalo-Niagara Falls,
      NY Total                     1,068  0.21    488     15.84     -29.27
---  --------------------------  -------  ----  -----  --------  ---------
163  Gulfport-Biloxi, MS Total       218  0.20    492    139.56  1,457.14*
---  --------------------------  -------  ----  -----  --------  ---------
164  Springfield, IL Total           193  0.20    498     44.03      -8.53
---  --------------------------  -------  ----  -----  --------  ---------
165  Laredo, TX Total                138  0.20    502      2.22      32.69
---  --------------------------  -------  ----  -----  --------  ---------
166  Omaha-Council Bluffs,
      NE-IA Total                    693  0.20    506     41.14     -28.56
---  --------------------------  -------  ----  -----  --------  ---------
167  Lafayette, LA Total             216  0.20    512     91.15    129.79*
---  --------------------------  -------  ----  -----  --------  ---------
168  Peoria, IL Total                316  0.19    515     19.25     -28.83
---  --------------------------  -------  ----  -----  --------  ---------
169  Champaign-Urbana, IL Total      184  0.19    529     31.43      75.24
---  --------------------------  -------  ----  -----  --------  ---------
170  Rochester, NY Total             758  0.17    583     -4.05     -32.56
---  --------------------------  -------  ----  -----  --------  ---------
171  Erie, PA Total                  191  0.16    618      9.14     -21.72
---  --------------------------  -------  ----  -----  --------  ---------
172  Spartanburg, SC Total           188  0.16    642     18.99     -52.76
---  --------------------------  -------  ----  -----  --------  ---------
173  Binghamton, NY Total            172  0.16    643    -15.27      -1.71
---  --------------------------  -------  ----  -----  --------  ---------
174  Scranton--Wilkes-Barre,
      PA Total                       396  0.15    652     43.48     -17.15
---  --------------------------  -------  ----  -----  --------  ---------
175  Harrisburg-Carlisle, PA
      Total                          351  0.15    657      4.78     122.15
---  --------------------------  -------  ----  -----  --------  ---------
176  Evansville, IN-KY Total         241  0.15    662     10.55     -46.33
---  --------------------------  -------  ----  -----  --------  ---------
177  Lexington-Fayette, KY
      Total                          296  0.15    685     16.08     -21.69
---  --------------------------  -------  ----  -----  --------  ---------
178  Poughkeepsie-Newburgh-
      Middletown, NY Total           355  0.14    693    -54.37     -64.43
---  --------------------------  -------  ----  -----  --------  ---------
179  Portland-South Portland-
      Biddeford, ME Total            352  0.14    723      0.28      -5.12
---  --------------------------  -------  ----  -----  --------  ---------
180  Beaumont-Port Arthur, TX
      Total                          222  0.14    726     25.42       5.71
---  --------------------------  -------  ----  -----  --------  ---------
181  Duluth, MN-WI Total             185  0.14    740     25.00     -22.92
---  --------------------------  -------  ----  -----  --------  ---------
182  El Paso, TX Total               338  0.13    749    -30.88     -23.36
---  --------------------------  -------  ----  -----  --------  ---------
183  Houma-Bayou Cane-
      Thibodaux, LA Total            102  0.12    801     75.86  1,033.33*
---  --------------------------  -------  ----  -----  --------  ---------
184  Durham, NC Total                264  0.12    808    -42.86     -61.40
---  --------------------------  -------  ----  -----  --------  ---------
185  Huntington-Ashland,
      WV-KY-OH Total                 161  0.12    822     19.26      75.00
---  --------------------------  -------  ----  -----  --------  ---------
186  Wilmington, NC Total            226  0.12    866     41.25     -37.05
---  --------------------------  -------  ----  -----  --------  ---------
187  Albany-Schenectady-Troy,
      NY Total                       424  0.11    895     31.68     -23.33
---  --------------------------  -------  ----  -----  --------  ---------
188  Hickory-Lenoir-Morganton,
      NC Total                       175  0.11    899     68.27     -25.85
---  --------------------------  -------  ----  -----  --------  ---------
189  Spokane, WA Total               198  0.10    985     23.75     -46.92
---  --------------------------  -------  ----  -----  --------  ---------
190  Tuscaloosa, AL Total             96  0.10    989     92.00    128.57*
---  --------------------------  -------  ----  -----  --------  ---------
191  Lubbock, TX Total               105  0.09  1,123     10.53     -39.66
---  --------------------------  -------  ----  -----  --------  ---------
192  Kingsport-Bristol-Bristol,
      TN-VA Total                    122  0.08  1,191     -9.63      12.96
---  --------------------------  -------  ----  -----  --------  ---------
193  Longview, TX Total               64  0.08  1,324    -59.24      33.33
---  --------------------------  -------  ----  -----  --------  ---------
194  Asheville, NC Total             141  0.07  1,415     98.59     -32.54
---  --------------------------  -------  ----  -----  --------  ---------
195  Syracuse, NY Total              164  0.06  1,741     43.86     -40.79
---  --------------------------  -------  ----  -----  --------  ---------
196  Charleston, WV Total             82  0.06  1,773     26.15    241.67*
---  --------------------------  -------  ----  -----  --------  ---------
197  College Station-Bryan,
      TX Total                        46  0.05  1,886     53.33      12.20
---  --------------------------  -------  ----  -----  --------  ---------
198  Kennewick-Richland-Pasco,
      WA Total                        39  0.05  2,195     18.18     -72.14
---  --------------------------  -------  ----  -----  --------  ---------
199  Lincoln, NE Total                51  0.04  2,417    240.00     -69.09
---  --------------------------  -------  ----  -----  --------  ---------
200  Lynchburg, VA Total              41  0.04  2,631    -59.00     173.33
---  --------------------------  -------  ----  -----  --------  ---------
201  Fayetteville, NC Total           52  0.03  2,902    -42.86     -88.39
---  --------------------------  -------  ----  -----  --------  ---------
202  Burlington-South
      Burlington, VT Total            20  0.02  4,436    400.00    233.33*
---  --------------------------  -------  ----  -----  --------  ---------
203  Utica-Rome, NY Total             25  0.02  5,441    127.27      -3.85
---  --------------------------  -------  ----  -----  --------  ---------

*  Actual increase may not be as high due to data collection changes or
   improvements
** Collection of records classified as NOD began in August 2009 because of
   change in state law
?  Collection of some records previously classified as NOD in this MSA was
   discontinued starting in January 2009
?? Collection of some records previously classified as NOD in this MSA was
   discontinued starting in September 2008

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac's foreclosure data has also been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

Visit www.viphousesearch.com to search for Bank owned homes for sale or call Gail at 949 422-4343 for a list in the cities that interest you.

 


Posted by Gail McClendon on October 30th, 2009 11:02 AMPost a Comment (0)

Current Mission Viejo Real Estate Home for sale and in escrow
October 12th, 2009 10:35 AM

There are currently;

- 9 Bank owned properties for sale in Mission Viejo.

- 71 !!!!! short sale properties for sale.

- 299 properties currently in escrow including bank owned, equity sales and short sales.

It looks like the local market is extremely active and inventory is picking up.

Go to www.viphousesearch.com or view photos and details of homes currently for sale.

 


Posted by Gail McClendon on October 12th, 2009 10:35 AMPost a Comment (0)

Real Estate Market -Have We Reached Bottom? 10 Factors to Consider
July 13th, 2009 11:41 AM

 

6-24-top-storyRISMEDIA, June 24, 2009-Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.” From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:

1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.

2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data shows higher sale prices in comparable properties market value opinions will increase proportionally. Appraisers seek evidence of value but do not create the value. In time periods with low activity, evidence of any kind is difficult to find.

3. More activity at open houses. Open houses with five to eight attendees is considered average, so a dozen or more people attending an open house means buyer interest is picking up. Also, the mood of the attendees is important. Are they optimist and upbeat? Buyers interest alone does not always translate to effective purchasing power. If the number of buyers in the market increases but they do not have requisite down payments, the sales may still not occur.

4. Shorter marketing times. In some markets, houses have been up for sale for more than a year. In most balanced residential markets, properties that are priced competitively will typically sell in less than six months. If the Days On Market (DOM) is shortening, many practitioners will read an improvement in the market.

5. Reduced number of foreclosures and short sales. A reduction in these transactions commonly signals a more balanced market. If lenders are reluctant to foreclose because of an oversupply of inventory, they may choose to wait to repossess the properties, which could allow a spike in the number of foreclosures later despite a better market condition.

6. Stabilized employment. Stable or increasing employment rates provide the necessary confidence for potential buyers to invest in a home. Since most buyers rely on borrowed funds to make real estate purchases and borrowing money usually requires a source of repayment and that usually means jobs, an increase in this basic need, will enable more real estate sales.

7. Fewer buyer incentives and seller concessions. Seller-paid incentives or concessions are a sign of seller motivation. If there are fewer builders offering “free” upgrades and fewer sellers sweetening the deal with big screen TVs, it may be a sign of lessening supply and therefore a better market.

8. New construction starts. Most builders are quite attune to their markets and will not build new homes without a corresponding contract for sale or a perceived increase in demand. An increase in the number of building permits usually indicates higher demand and higher prices. If residential properties are selling for 25% less than they cost to build, only a few new homes will be built. It would be prudent to buy an existing home rather than build a new one for a much higher price.

9. “Move-up” buyers entering the market. More buyers willing to move to a larger or superior quality home indicates a healthy market. The lack of buyers at the lower end of the price range will have a chain reaction throughout the market. If a buyer for a high priced home has a lower priced home to sell first, the sale of the higher priced home may have to occur before the higher priced one can sell.

10. Apartments advertising renter specials - fewer renters in the market may indicate more people are moving into owner occupied homes or it could indicate a reduction in population. Lower population will cause an oversupply of housing which will oftentimes permeate throughout several markets.

--------------------------------

Mission Viejo Bank owned homes..

There are currently only 7 Bank owned homes for sale in Mission Viejo including condos.  See below for details. If you are interesting in seeing Bank owned homes for sale in other cities call Gail @ 949 422-4343 for a list.

Gail McClendon     
25835 MARGUERITE 8104   
Click for more pictures ... 

Media: 1
 
 

Rooms

 

Amenities

 

Interior

 
 

Exterior/Structural

   
 
 
 
   

Lot Description

//14364
 

Community/Association

 
 

Contact Information

 
This Report was created by:

Listing Activity




 

 

Gail McClendon     
26581 Tampico Pl    
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Media: 1
 
 

Rooms

 

Amenities

/
 

Interior

 
 

Exterior/Structural

   
 
 
 
   

Lot Description

//7026
 

Community/Association

No  
 

Contact Information

 
This Report was created by:

Listing Activity




 

 

Gail McClendon     
26264 Via Roble 38   
Click for more pictures ... 

Media: 1
 
 

Rooms

 

Amenities

 

Interior

 
 

Exterior/Structural

   
 
 
 
   

Lot Description

//8228
 

Community/Association

No  
 

Contact Information

 
This Report was created by:

Listing Activity




 

 

Gail McClendon     
21638 Paseo Maravia    
Click for more pictures ... 

Media: 7
 
 

Rooms

 

Amenities

/
 

Interior

 
 

Exterior/Structural

   
 
 
 
   

Lot Description

//14615
 

Community/Association

Yes  
 

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Gail McClendon     
23444 COSO 177   
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Media: 19
 
 

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Amenities

 

Interior

 
 

Exterior/Structural

   
 
 
 
   

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//8772
 

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Gail McClendon     
23025 Via San Juan    
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/ /
 

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//8055
 

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No  
 

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Gail McClendon     
27442 Esquina    
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Media: 8
 
 

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/
 

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//9573
 

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No  
 

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Posted by Gail McClendon on July 13th, 2009 11:41 AMPost a Comment (0)

May Existing-Home Sales Continue Rising Trend
June 24th, 2009 12:17 PM

 

RISMEDIA, June 24, 2009-Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions and a first-time buyer tax credit, according to the National Association of Realtors®. May’s increase was the first back-to-back monthly gain since September 2005.

Existing-home sales-including single-family, townhomes, condominiums and co-ops-rose 2.4 percent to a seasonally adjusted annual rate of 4.77 million units in May from a downwardly revised level of 4.66 million units in April, but remained 3.6 percent below the 4.95 million-unit pace in May 2008.

Lawrence Yun, NAR chief economist, expected an improvement. “Historically low mortgage interest rates clearly drew buyers into the market, and housing remains very affordable even with a recent uptick in rates,” he said. “First-time buyers also are being drawn off the sidelines by the $8,000 tax credit, which is helping to absorb inventory. However, the increase in sales is less than expected because poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 4.86% in May from a record low 4.81% in April; the rate was 6.04% in May 2008. Last week, Freddie Mac reported the 30-year fixed at 5.38%; data collection began in 1971.

Total housing inventory at the end of May fell 3.5% to 3.80 million existing homes available for sale, which represents a 9.6-month supply2 at the current sales pace, down from a 10.1-month supply in April.

Yun said the appraisal problem is serious. “Lenders are using appraisers who may not be familiar with a neighborhood, or who compare traditional homes with distressed and discounted sales,” he said. “In the past month, stories of appraisal problems have been snowballing from across the country with many contracts falling through at the last moment. There is danger of a delayed housing market recovery and a further rise in foreclosures if the appraisal problems are not quickly corrected.”

An NAR practitioner survey in May showed first-time buyers accounted for 29% of transactions, and that the number of buyers looking at homes is nearly 10 percentage points higher than a year ago. “This is the time of year when we see large increases in the number of repeat buyers, who are benefitting from sales to entry-level buyers,” Yun said. “Investors appear less active, but are more prevalent in areas with large price corrections.”

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said appraisals and the tax credit are key issues. “To maximize the potential for a housing recovery and subsequent economic recovery, we need realistic appraisals that are based on proper comparisons and done by a local specialist,” he said. “In addition, the first-time buyer tax credit should be expanded to all buyers of primary homes regardless of income. Extending the credit into 2010 would allow more time for the market to catch up with underlying demand, in part because many families with children, who normally time their purchase based on school year considerations, do not have enough time to move before the start of school in late August.

“Freeing a pent-up demand in housing will absorb inventory at a faster pace, strengthen communities and stabilize home prices earlier,” McMillan said.

The national median existing-home price3 for all housing types was $173,000 in May, down 16.8% from a year earlier. Distressed properties, which declined to 33% of all sales in May from 45% in April, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

“The decline in the distressed sales share likely results from an increase of repeat buyers in May,” Yun said. “First-time buyers are concentrated in the lower price ranges, which include most of the distressed sales.”

Single-family home sales rose 1.9% to a seasonally adjusted annual rate of 4.25 million in May from a pace of 4.17 million in April, but are 3.0% below the 4.38 million-unit level in May 2008. The median existing single-family home price was $172,900 in May, down 16.1% from a year ago.

Existing condominium and co-op sales increased 6.1% to a seasonally adjusted annual rate of 520,000 units in May from 490,000 in April, but are 8.9% below the 571,000-unit level in May 2008. The median existing condo price4 was $173,800 in May, down 21.9% from a year earlier.

Regionally, existing-home sales in the Northeast rose 3.9% to an annual level of 800,000 in May, but are 10.1% below a year ago. The median price in the Northeast was $243,600, which is 12.5% below May 2008.

Existing-home sales in the Midwest jumped 9.0% in May to a pace of 1.09 million but are 4.4% below May 2008. The median price in the Midwest was $145,800, which is 10.4% lower than a year ago.

In the South, existing-home sales were unchanged at an annual pace of 1.74 million in May but are 8.9% below a year ago. The median price in the South was $157,400, down 9.9% from May 2008.

Existing-home sales in the West slipped 0.9% to an annual rate of 1.14 million in May, but are 11.8% higher than May 2008. The median price in the West was $197,700, down 30.6% from a year ago.

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Mission Viejo REOs, Foreclosed homes for sale;

Gail McClendon  Residential    
80 CHADRON Cir    
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Ladera Ranch (LD)
Orange County (OR)

Media: 6
 
 

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Gail McClendon  Residential    
26023 Via Pera J2    
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Mission Viejo Central (MC)
Orange County (OR)

Media: 5
 
 

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Gail McClendon  Residential    
24461 Ardisa    
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Mission Viejo Central (MC)
Orange County (OR)

Media: 3
Assessor 
 

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Gail McClendon  Residential    
26581 Tampico Pl    
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Mission Viejo Central (MC)
Orange County (OR)

Media: 1
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Gail McClendon  Residential    
26241 Las Flores D #4    
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Mission Viejo North (MN)
Orange County (OR)

Media: 9
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Gail McClendon  Residential    
26264 Via Roble 38    
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Mission Viejo North (MN)
Orange County (OR)

Media: 1
Other 
 

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Gail McClendon  Residential    
21638 Paseo Maravia    
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Mission Viejo North (MN)
Orange County (OR)

Media: 7
 
 

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Gail McClendon  Residential    
26451 Via Logrono    
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Mission Viejo North (MN)
Orange County (OR)

Media: 19
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Gail McClendon  Residential    
22605 Wakefield    
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Mission Viejo North (MN)
Orange County (OR)

Media: 1
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Gail McClendon  Residential    
27772 Berwick 21    
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Mission Viejo South (MS)
Orange County (OR)

Media: 1
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Gail McClendon  Residential    
62 Melrose Dr    
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Mission Viejo South (MS)
Orange County (OR)

Media: 20
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Gail McClendon  Residential    
26552 Brandon    
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Mission Viejo South (MS)
Orange County (OR)

Media: 15
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To see these bank owned homes call Gail @ 949 422-4343. Also feel free to call me for a list of Bank owned homes for sale in the cities of your choice. You can visit www.viphousesearch.com to search for Foreclosed homes.



Posted by Gail McClendon on June 24th, 2009 12:17 PMPost a Comment (0)

Bank Owned, Foreclosed Homes in Rancho Santa Margarita, California
June 12th, 2009 11:08 AM

If you have any questions about these homes, would like to see them, or want a list of Bank owned homes in other cities call Gail @ 949 422-4343.

Gail McClendon  Residential    
35 SUMMITCREST    
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Dove Canyon (DC)
Orange County (OR)

Media: 10
Appraiser 
 

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Gail McClendon  Residential    
10 PICA FLOR 57    
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Rancho Santa Margarita North (R1)
Orange County (OR)

Media: 5
 
 

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Gail McClendon  Residential    
81 Gaviota 163    
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Rancho Santa Margarita North (R1)
Orange County (OR)

Media: 3
Estimated 
 

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Gail McClendon  Residential    
110 TIMBRE    
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Rancho Santa Margarita North (R1)
Orange County (OR)

Media: 1
 
 

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Gail McClendon  Residential    
15 Silktassel    
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Rancho Santa Margarita North (R1)
Orange County (OR)

Media: 1