Living Large in Newport Beach!

As found on TheOCmls.com, a 3,200 sq ft pool home in exclusive Newport Beach.

This home features: 4 Bedrooms 4 Bathrooms Lovely landscaped yard with a pool and it is Large and Luxurious...but this price tells us that someone is saying: "Heave my home!"


Newport Beach homes in this size range have been selling for an average of $627 a sq ft. At this rate, the home would be priced over $2,000,000. A Heave Home price that is one half a million dollars below market would be awesome! How does $1,500,000 sound?
Pretty good..but at Heave Home, $1.4M sounds even better.
In fact, at $1.3M, over $700,000 below recently sold comparables, it would sound super double extra better.


BUT we don't just show you good deals on here, we work hard finding the best deals we can....and at only $1,249,000, we think we found a good one...again! That's right...4 bedrooms, 4 bathrooms, 3,200 sq feet of living space in NB...only $1.249M.


If you want a big home in Newport Beach, that is priced well for the square footage, then take a look here at the photos and more information:
Newport Beach Biggie


If you want to see this home, or other great deals, call 714-349-5454 right away.









This home is listed for sale with Dana Black at Coldwell Bankers Previews International.




DISCLAIMER- THE HOMES FEATURED WITHIN MAY OR MAY NOT BE LISTED FOR SALE WITH REFERRAL REAL ESTATE SERVICES. AS SUCH, INFORMATION CONTAINED WITHIN IS DEEMED TO BE ACCURATE BUT NOT GUARANTEED. IT IS NOT SUGGESTED TO APPROACH ANY HOME WITHOUT BEING ESCORTED BY A QUALIFIED AND REGISTERED REAL ESTATE PROFESSIONAL. STATUS OF HOMES CHANGE DAILY AND AS SUCH MAY NO LONGER BE AVAILABLE FOR SALE WHEN VIEWED.

Is Indy Mac shutting it down?

Last week, fueled by comments from Sen. Charles Schumer (D-NY), IndyMac mortgage experienced a run up in customer withdrawals to the tune of $100 million dollars. According to IndyMac, while this is increased activity, it amounts to only .05% of it's $19 billion in deposits.

NEWS ALERT

We have it on good authority that as of today, IndyMac is closing it's wholesale and retail loan origination business.

EXCERPT FROM INDYMAC EMPLOYEE EMAIL TODAY AT 2:15PM:

Indymac is curtailing most of our forward mortgage production activities by closing our wholesale and retail loan origination businesses. We are refocusing the company on (1) the reverse mortgage business through Financial Freedom, (2) loan servicing including loan production through the customer retention group and (3) retail branch banking. This action, while painful for everyone, is absolutely necessary for Indymac’s continued safety and soundness.

While we can't verify this this information, nor do we want to have any hand in disseminating false information, we here at Referral Real Estate believe it to be true.

Stay tune for updates.

Owe more than your home is worth?

I started this blog because many consumers think that because they owe more on their house than what it may be worth, they have to do something…a short sale or be foreclosed on…something!

First and foremost, just because you owe more on something than what it is worth, doesn’t mean you have to do anything. As soon as you drove your new car off the dealership lot, you owed more than what it was worth, but chances are, like me, instead of worrying about it, you just continued to enjoy your car.

If for any reason at all, you do feel like you need to do something, you have options. While there is not enough time on here to cover them all, I can give you the most common.

First, as I already mentioned, you can do nothing. You can continue to pay your mortgage and enjoy your house as long as you keep paying it. Orange County home prices in the past have always appreciated over time. You can probably expect they will again.

Secondly, you may be able to refinance with your current lender to a lower rate. Today the banks would rather help refinance you instead of having to take your home back. It is in their best interest to help you in this situation. Many real estate agents and loan officers will not take the risk in telling you this because it is not in their best interest to do so. This is the best remedy for many people in this same situation.

The third option is that you can sell your home….even if you do owe more than it is worth. This is what is known as a short sale. You will have the option of paying the bank the difference in what is owed and what it is worth but if you cannot afford to pay that difference, the bank will typically still allow you to do so. The best thing about this option is that right now, if it is your primary residence, you may have no tax consequences whatsoever. You will need to check with your CPA for more information on this situation as I am not a tax advisor.

Another option is to walk away. Stop making your payments and walk away. The bank will foreclose on your house and this typically has the worst tax consequences for you, but it is an option for many. Again, discuss this or any of these options with a CPA before proceeding.

You do have other options as well, and I would love to share them all with you. As you can well imagine, there’s just too much to tell you about on this blog, but it’s easy for you to get more information. There is no cost, hassle or obligation to obtain these options. It is just my small way of helping educate people who may be facing home ownership challenges.

So call me, Dave Osborne with Referral RES at 714-349-5454. I look forward to helping you out.

Thanks!

Fearing that the current state of the housing market is dragging the economy into recession, the senate today passed a test vote approving the biggest government program ever to bail out troubled homeowners. This legislation, if passed, will create a $300 billion fund to help up to 400,000 homeowners refinance their current loans into more affordable government backed loans.

This bill easily passed a senate test vote 83-9 and is supported by both Democrats and Republicans alike. There are spending aspects of the proposed bill that the White House is leery of and thus will need revisions before President Bush will support the bill. This bill can pass as early as Mid-July.

The new bailout bill will be funded with new tariffs on Fannie Mae and Freddie Mac. It will also subject both mortgage enterprises to regulation overhauls. In light of Fannie and Freddie's slow response to help recovery in the troubled housing market, many are optimistic that this new legislation will provide the relief needed to correct the market.

No word yet as to have this will affect the most recent Homeowner's Economic Stimulus Package. Stay tuned to TheOCmls.com for regular updates.

Thinking through the process....

What a crazy 3 weeks the last have been. I am behind on showing you which Homes need Heaved but rest easy knowing that you can still search for them yourself at TheOCmls.com.

I'm taking a little departure this week from talking strictly about real estate for a few good reasons.

First, I myself am in the process of preparing my home for sale, and buying a new one. Like you, I understand that this takes a lot of work and a lot of organizing. There is so much to figure out, dollars to calculate, neighborhoods to choose from, concern about the market, etc. etc.. It can be a real challenge keeping everything together.

Secondly, to help me through the process, I have discovered an amazing breakthrough technology that is helping me sort through all the details and is keeping me focused on the things that need the most attention.

The technology is called Mind Mapping. With a pen and a piece of paper, you can layout your thoughts in an organic, free flowing process which will actually help you get organized and structured.


If you, like me, think that pen and paper are good, but software is "better" then you might be interested in knowing there are other options. I just this week discovered Tony Buzan's iMind Map software. After using the free demo for only 10 minutes, I was literally blown away at the power of this software. It helped me immediately lay-out all the things I needed to do in preparation of selling my house, but the way it is set up encouraged me to think through the details and I was able to add items that I had completely forgot about. As I "played" with it, my mind was aflutter with ideas of other places this program would be helpful.

Besides helping me organize my thoughts in regards to moving, I also quickly developed a new company org. chart and laid out a new marketing program for the company as well.

2 days ago, I had never even heard of the name Tony Buzan. A quick search of him on Google shows that he is a world renown thinker and educator and has written many books on the power of the mind. Ken Blanchard, author of The One Minute Manager and Forbes Magazine both recognize Tony Buzan as a leader in his field.

I am so glad I found out about this, I could not wait to share it with you all. I strongly encourage you to check out the free download for yourself. It is good for 7 days but I have a feeling you will know in the first 10 minutes if it will benefit you at all.

After you try it out, report back to me. I would love to get your feedback on it. Thanks and have a great week!

Zero Down Home Loans In OC - 30 year fixed rates.

ZERO DOWN HOME LOANS - BELOW MARKET RATE FIXED FOR 30 YEARS (today's rate is 5.375%) The number one and number two responses I hear when I make this claim are (and it is always from mortgage professionals), "there is no way" and "those loans are all gone". Well there is a way and they are not gone, and with this particular program, they are better than ever! The best part is, right now there are over 10,000 southland homes that qualify for it.



Please excuse the quality of video, it is long and I am new at this, but I just felt it was important to let people know about this program right away.



PS After I explain the details to the mortgage professionals, their next response is, "How can I get set up on it for my clients". They can't. This is a free, non-profit, consumer advocacy organization and mortgage brokers cannot benefit from it...but you can. Call me.

Additionally, the formal text is included below for you to read if you would like:

By now, you’ve probably heard the news or seen the headlines about the current state of the real estate market and if you haven’t, you will soon. What you may not know and what you may not see in the media, is that right now, people are still able buy homes with zero down payment and with below market interest rates that are fixed for 30 years.

You may be saying that you heard Zero Down loans are part of the reason for the market condition today. In fact, Zero Down is typically the best way to get into a home regardless of the market condition, especially when your payment will never change over 30 years.

You may also be thinking that this sounds too good to be true. It is not! Over 30,000 families have enjoyed an amazing program since 1989. However, because of the maximum purchase price limitation, not too many homes in California could qualify for this mortgage.

Now, I don’t know if you’ve already begun to notice so many homes for sale with reduced prices, which means sellers, are more willing to negotiate with people, just like you. Like me, you are probably already aware of the fact that because there are so many homes for sale with reduced prices right now, it might be a good time to buy. To make it even a better time to buy, many of these same California homes now qualify for the zero down program. In Los Angeles and Orange Counties, there are more than 10,059 homes priced under the maximum limit threshold.

Like you, I would be skeptical about such a program. I might even be wondering why a real estate consultant is telling me about a loan program. I might even be trying to figure what the costs are and what the catch is. The fact is there are no costs associated with this program and the reason I am spending my money and time to tell you about it is simple. My hope is that in return for me introducing you to such an amazing mortgage program, that when you are ready, you will look to me to be you consultant when finding just the right house for you. Furthermore, I believe that when you experience my world class service, you will gladly tell your friends, coworkers and family members about me.

As you can imagine, there is a lot more information I can give you about this loan. I have on file all of the qualification requirements and would love to share them with you. If you are still interested, you may be wondering how you can take the next step. That is easy. You can either call me on my personal line at 714-349-5454 or you can email me at DaveO@theocmls.com. I return calls daily between 10:30 and noon and again from 4:30 until 6:30pm. I will be happy to fax you, mail you or email everything you need to know about this program.

Well, this is the end of this message thank you for calling and I wish you the best in your home search. Bye for now!

Heave Home of the week 5/5/08

Here is an amazing deal on a huge home, on a huge lot in the lovely city of Brea, better yet, part of the acclaimed Brea-Olinda school district. As always, this home was found with thousands of other great deals at TheOCmls.com.

Here are the details:

Bed 5
Baths 3
Single story
Sq Ft 2,854
Lot Size 12,852 (Over 1/4 acre)
Newer Roof, copper plumbing and many lifestyle possibilities.

Value range price of $575,000-$625,000.
That is $201-$219 sq ft.

The average price per sq ft of homes for sale in Brea today is $260.00 (2,750-3,000 sq ft).

For full detail information and photos, click here.

The owners want to Heave this Home asap so call me at 714-349-5454 to see it today.



This home is listed for sale by Jean Jones and Prudential California Realty if you wish to contct the listing agent directly.

Heave Home of the week for 4/21/08

Lovely 4 bedroom town home centrally located in Lake Forest. Own this home and enjoy all the benefits of the Sun and Sail club including use of the gym, pools, sports courts, playgrounds, walking trails, lakes and more.

All this for only $320,000. With the NACA mortgage, and zero down payment, the payments for this home would be right around $1700.00 a month (call for details). 4 bedrooms, in a great city, for less than many people's rent.

Check it out here and call 714-349-5454 or email DaveO@theOCmls.com for your personalized appointment.


CLICK TO SEE PHOTOS OF THIS GREAT HOME HERE!





DISCLAIMER- THE HOMES FEATURED WITHIN MAY OR MAY NOT BE LISTED FOR SALE WITH REFERRAL REAL ESTATE SERVICES. AS SUCH, INFORMATION CONTAINED WITHIN IS DEEMED TO BE ACCURATE BUT NOT GUARANTEED. IT IS NOT SUGGESTED TO APPROACH ANY HOME WITHOUT BEING ESCORTED BY A QUALIFIED AND REGISTERED REAL ESTATE PROFESSIONAL. STATUS OF HOMES CHANGE DAILY AND AS SUCH MAY NO LONGER BE AVAILABLE FOR SALE WHEN VIEWED.

Video Thought For The Day...

CLICK ARROW ABOVE TO VIEW VIDEO

Hello

My name is Dave Osborne. I am a real estate broker in Orange County California. Our company has been offering the website, theOCmls.com for many years now. As it has always been, it is our free gift for you to use, with no hassles or no obligations whatsoever.

I just wanted to take a few minutes today to discuss what’s been going on in the OC Real estate market recently. I could bore you with a ton of statistics, but more importantly, I just wanted to express to you in my words and my opinion, what is happening today.

The fact is, we live in a new world, not just in real estate terms, but how both business and our personal lives are conducted everyday. There is so much information (and misinformation) available at our finger tips today, and such a need for instant gratification, that the finer details are often over looked. You may have heard the phrase the devil is in the details. I can tell you from experience, not too many people want to dance with the devil.

It is so easy to read headlines and listen to the doom and gloom of news programs. It is far easier than getting into what the real story is. I know you have lives outside of real estate and don’t necessarily care to get into the day to day intricacies of the market. That's my purpose for being here and for this blog. So, that being said, I feel it is now officially safe to say we are in the midst of a real, real estate crunch. No big surprise there…right? In many areas, foreclosures are at an all time high. On a nationwide average, 1 out of every 400 homes is in foreclosure. Many more are expected to follow. But did you know in certain parts of Orange County, real estate values are still higher than the "top" of the market 2 years ago. A perfect example is Rossmoor, Rossmoor is a wonderful community in Los Alamitos with excellent schools. At the end of the year 2005, the average home sales price in Rossmoor was $893K, as of December 2007, it trended upwards 9.4% to $977K. Home price increases of almost 5% annually in a depressed market??? Who would have guessed it. I don’t have a crystal ball and so I can’t speak for year end 2008. Maybe it will be another 5% increase, maybe it will be a 20% decrease. Who knows, the point I am trying to make is that the market conditions today vary greatly depending on where you live or where you may want to live. Blanket statistics that apply to the nation as a whole do not typically apply to Orange County. For good, accurate information, check back here or better yet give me a call at 714-349-5454 or email me at DaveO@theOCmls.com. I’ll be happy to let you what is really going on in your neighborhood!

Thanks for giving me a few minutes of your time. I look forward to chatting with you again soon. Bye for now.