Market Update : OC homes for sale

One in Four Borrowers is Underwater on their Home

Liane Thomas — Sun, 29 Nov 2009 10:04:00 GMT

One in four borrowers is underwater
Despite recent indicators that the housing market is improving,a new report shows that one in four mortgage borrowers are underwater, meaning they owe more on their mortgage than their home currently is worth. According to First American CoreLogic, nearly 10.7 million households had negative equity in their
homes in the third quarter, accounting for about 23 percent of all U.S. homeowners. Most homeowners, however, still have equity, and nearly 24 million owner-occupied homes do not have a mortgage, according to the U.S. Census Bureau.

A study by credit-scoring company Experian shows that approximately 588,000 borrowers strategically defaulted on their mortgages last year, even though they could afford to pay--more than double the number in 2007. Homeowners with negative equity are more likely to strategically default if they live in a state where the bank cannot pursue their assets in court, according to a study by the Federal Reserve Bank of Richmond. California is
an example of a state with anti-deficiency laws protecting homeowners from personal liability under certain circumstances.

"Borrowers who are less than 20 percent underwater are likely to maintain their mortgage if their loan is modified and the payments reduced," said an official with Citigroup's mortgage unit. "Beyond 120 percent, the most effective modification is a complete loan restructuring, including a principal reduction."

So what does this mean to you? If you are underwater on your home, you are not alone. And you do have options....loan modification, short sale, deed in lieu of foreclosure, foreclosure, and bankruptcy are just a few. Not sure what to do first? Call for a free consultation. We will help you find the options available to you, no cost, no obligation, no pressure.

Brought to you by:

Liane Thomas, REALTOR®
The Thomas Group, Keller Williams Realty
1860 Compton Avenue
Corona, Ca 92881
Serving Corona, Norco, Riverside, and Surrounding Communities
951.454.3805
www.AllCoronaHomes.com

Townhouse For Sale in Cypress

Liane Thomas — Fri, 13 Nov 2009 23:03:00 GMT

• 1,031 sq. ft., 2 bath, 2 bdrm townhouse - MLS® $290,000 - Standard Sale!

Cypress, Orange County - Cute townhome in Cypress, in the highly desirable Los Alamitos School District. Walking distance to schools and shopping. You'll love the large living room with newer wood floors. The kitchen has newer cabinets and countertops. The downstairs den (could easily be converted to a 3rd bedroom) has a private 1/2 bath and slider doors out to the private patio. The master bedroom features a private patio, too. Recently remodeled with newer carpet, steel front door, and dual paned windows and slider door. The full bath upstairs has tile floor and a newer vanity and sink. Nice community with greenbelts, tot lot, pool, and spa. One car garage and one parking space included! Plan your visit today!

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2 Story For Sale in Sierra del Oro

Liane Thomas — Sun, 08 Nov 2009 20:15:00 GMT

• 3,031 sq. ft., 3 bath, 5 bdrm 2 story - $550,000 - Priced To Sell Fast!

Sierra del Oro, Corona - Luxury Living Orange County Close! You must see this highly upgraded Sierra del Oro, Corona Pool Home! The elegance starts at the gated courtyard entrance, and continues to the 3 sided slate fireplace, the granite in the kitchen, and to the romantic master suite. Newer stainless steel appliances including a double oven, and 5 burner gas cook top. You will love the low maintenance landscaping, and the inviting rock pool and spa. This is a standard sale, no long waits for banks. You'll save money too, with low tax rate, and no HOA fees. Commuter close to Orange County, and close to great schools, shopping center, and so much more. Call to see this beauty today!

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Big 4 Bedroom Home For Sale in South Corona

Liane Thomas — Sun, 08 Nov 2009 19:56:00 GMT

• 3,486 sq. ft., 3 bath, 4 bdrm single story - $649,000 - Standard Sale!

South Corona, Corona - Visit me first. Stunning South Corona Pool Home! Standard sale, no long waits! This beautiful 4 bedroom, 3 bath home is on one of the largest lots in the tract! Granite in the kitchen, honey maple cabinets, city lights view, and a 4 car garage, too. Romantic master suite has private bath with separate oval tub and shower. Highly upgraded, including a whole house fan, and insulated, drive thru garage. Fenced yard, fully landscaped, with a sparkling rock pool. Commuter close to freeway and shopping. Plan your visit today.

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Home Sales Jump ~ April 2009

Liane Thomas — Tue, 02 Jun 2009 19:02:00 GMT

Pending US Home Sales Surge

Pending US home sales skyrocketed to their highest number in 7 years, a sure sign that the bottom is forming and that bargain seekers have arrived. The National Association of Realtors reported that its seasonally adjusted index of sales contracts signed (the Pending Home Sales Index) jumped 6.7% to 90.3, well ahead of analysts' expectations. Lawrence Yun, NAR chief economist, said buyers have responded to favorable market conditions. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," he said. "Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers."

So what does that mean to you? If you want to sell your home, this is probably the best time since 2006. Call me for a no obligation consultation to find out what your house is worth in todays market. We can help you sell your home fast, even if you owe more than your home is worth!

If you are considering buying a home, you MUST close escrow before the end of November to cash in on the tax credit. That means you need to be in escrow by September, and that means you need to be looking for a home TODAY! Please take advantage of this awesome opportunity pass you by!

Brought to you by:
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

Do you qualify for an FHA loan?

Liane Thomas — Mon, 27 Apr 2009 02:16:00 GMT

So we had the joy of sitting with a really great couple over the weekend. This husband and wife were reviewing an offer that came in over the weekend on the home we are selling for them. We got to the part about the buyers loan, and they were really surprised how easy it was for this first time home buyer to finance their home. The buyer is using and FHA home loan with a very small down payment, and they are getting a super low interest rate in the low 5% range.

So, do YOU qualify for this great loan? Here are the details...

In San Bernardino and Riverside county, the loan limit is $500,000.

In Los Angeles and Orange county, the loan limit is $729,750

FHA loans require a minimum 3.5% down payment. This money can be a gift. Yep, mom and dad can give you the money to move out of their house!

FHA allows a seller contribution up to 6%. That means the seller of the house can pay nearly all of the costs associated with your home purchase.

FHA does not require you to have gobs of money in the bank.

FHA allows a non-occupant co-borrower for a single family home.

If you want to know how easy it is to buy your dream home, call us. No cost, no obligation.

Thanks,

Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951 454-3805
www.AllCoronaHomes.com

Breaking News! Home Sales Up in California in March 2009!

Liane Thomas — Sat, 18 Apr 2009 16:54:00 GMT

An estimated 36,215 new and existing homes and condos sold in California last month, a 23.9% month-on-month increase from February and 47.4% year-on-year increase from March 08, according to a report published Thursday by San Diego-based MDA DataQuick Information Systems. March marked the ninth consecutive month of year-over-year sales inclines.
Sales prices continue to slip in the Golden State, however, with March posting a median sales price of $233,000 — 0.4% below February’s median and 37.7% below the year-ago median seen in March 08. DataQuick attributed the drop to the work of depreciation in concert with shifts in the types of homes sold toward foreclosure properties. Real estate-owned (REO) properties accounted for 57.4% of monthly sales in March, up from 35.5% in March ‘08.
California home buyers in March committed to an average mortgage payment of $958, 44% below the average payment entered in March ‘08, 63.1% below the latest bubble’s June 2006 peak and the lowest average monthly payment, adjusted for inflation, reported in DataQuick’s statistics, which track information back to 1988.
“Indicators of market distress continue to move in different directions,” say DataQuick researchers. “Foreclosure activity is nearing its 2008 peak, while financing with adjustable-rate mortgages is at an all-time low, as is financing with multiple mortgages.”
Source: HousingWire.com
So what does this mean to you? If you are considering selling, it is very likely we will find a buyer for your home fast! Short sales welcome, please call us for a free, no obligation, consultation.
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951 454-3805 cell
www.AllCoronaHomes.com
Serving Corona, Riverside, and surrounding areas

Help for the Troubled Housing Market!

Liane Thomas — Fri, 15 Aug 2008 15:43:00 GMT

Finally we have some help for the troubled housing market. A law passed by the federal government and is one of the boldest and broadest pieces of legislation related to the real estate market since the great depression.

Among other relief details, the legislation devotes $300 billion to helping troubled homeowners avoid foreclosure.

Key provisions of the Housing and Economic Recovery Act of 2008

• A tax credit of up to $7,500 for qualifying first-time home buyers (repayable and interest-free over 15 years).

• An increase in loan limits for Fannie Mae, Freddie Mac, and FHA up to $625,500 with local limits set at 115% of the area median.

• A foreclosure rescue plan in which lenders would refinance homeowners with subprime and ARM reset loans into fixed-rate, 30-year mortgages backed by the Federal Housing Administration.

• A change in existing legislation that will eliminate seller-paid down payment assistance programs such as Nehemiah and the HART programs.

• New requirements for mortgage originators.

• A bailout plan for government-sponsored loan companies Fannie Mae and Freddie Mac, if it is needed.

• A grant of $3.9 billion in grants to the hardest hit communities for buying and fixing foreclosed property.

• $180 million for pre-foreclosure counseling and legal services for distressed borrowers

Additionally, states will receive and additional $11 billion in tax free municipal bond authority for low interest loans to first time home buyers, construction of low income rental housing and refinancing subprime mortgages.

If you want to know how this new law may help you, please call (951) 454-3805. We'd love to offer you some free information.

Get Paid Up To $7500 For Buying A House!

Liane Thomas — Fri, 15 Aug 2008 15:30:00 GMT

Did you know that a law was just passed that would help many home owners avoid foreclosure? Called the Housing and Economic Recovery Act of 2008, this is one of the boldest and broadest pieces of legislation related to the real estate market since the great depression. As part of this law, the government will give you a tax credit up to $7500 if you buy a home this year.

What this means to you: If you buy a house this year, you will get an instant tax credit of up to $7500 when you file in the spring of 2009. A few restrictions apply, so please call (951) 454-3805 if you would like more information about this historic legislation. We would love to help you find the home of your dreams, and save $7500 off your taxes, too!

Thank you!

Thomas Realty Group, Inc.

951 454-3805

www.AllCoronaHomes.com

www.FreeRiversideHomeSearch.com

4561 Warner Avenue in Huntington Harbour is Sold!

Liane Thomas — Wed, 02 Jul 2008 23:15:00 GMT

Huntington Harbour, Huntington Beach - The single story at 4561 Warner Avenue has been sold.

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Price Reduced on 4561 Warner Avenue in Huntington Harbour

Liane Thomas — Wed, 14 May 2008 10:05:00 GMT

Huntington Harbour, Huntington Beach - Announcing a price reduction on 4561 Warner Avenue, a 1,100 sq. ft., 2 bath, 2 bdrm single story "Top Floor Single Level". Now MLS® $415,000 - REDUCED!.

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Price Reduced on 4561 Warner Avenue in Huntington Harbour

Liane Thomas — Sun, 27 Apr 2008 18:26:00 GMT

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Price Reduced on 3621 Foxplain Road in Sierra del Oro

Liane Thomas — Thu, 13 Mar 2008 17:28:00 GMT

Sierra del Oro, Corona - Announcing a price reduction on 3621 Foxplain Road, a 1,994 sq. ft., 3 bath, 4 bdrm 2 story. Now MLS® $444,900 - Just Reduced! Visit open house Saturday March 15 from 10am-4pm. Owner says "Bring all Offers".

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Single Story For Sale in Huntington Harbour

Liane Thomas — Fri, 29 Feb 2008 15:31:00 GMT

Walk to the Sand!

• 1,100 sq. ft., 2 bath, 2 bdrm single story "Top Floor Single Level" - MLS® $469,900

Huntington Harbour, Huntington Beach - Once in a lifetime opportunity! Rarely do homes in SEAPORTE go up for sale. Only 1/4 mile to Huntington Harbor, 1 mile to Bolsa Chica State Beach and 1/2 mile to Bolsa Chica Wetlands. Immaculate third floor single level home with elevator access. Two master bedrooms and 2 baths. Travertine faced fireplace in the living room for chilly evenings, custom paint, new appliances, vaulted ceilings, indoor laundry, light and bright. Quiet gated complex with lushly landscaped grounds, pool, spa, clubhouse, and gym. HOA dues include water, trash, and basic cable. There are two underground parking spaces. Great location, walk to the surf! Plan your visit today!

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Open House in Sierra del Oro on Saturday

Liane Thomas — Fri, 29 Feb 2008 15:12:00 GMT

Sierra del Oro, Corona - We invite everyone to visit our open house at 3621 Foxplain Road on March 1 from 12:30 PM to 4:00 PM.

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