Interest Rates in the “Fours!”
December 22, 2008
Four-Something has arrived! When we last wrote this column, we predicted the arrival of a mortgage interest rate BELOW five percent. It happened, and it happened quickly!
Just this past Friday, for the first time, I received an announcement via email for a mortgage, with the interest rate quoted at 4.375% with a typical 1-point origination fee (4.5% APR). That rate applies to a conforming loan under $417,000; higher rates apply to larger mortgage amounts.
Four-something for a 30-year fixed? That is a benchmark of historic proportion! It could be the beginning of the much needed bottom in Orange County housing prices, if the opportunity for rates like those lasts awhile, and if lenders regain their footing in the market.
It’s condo time! Investors, first-time buyers, and parents who want their kids to be nearby after graduating high school or college (but not THAT nearby…), now might be a great time to make an investment in the future.
Owner-occupied (think: the kids) purchases can be made with very little downpayment. VA and FHA-insured loans are available with only a small investment, but are accompanied by higher monthly payments, of course.
But with a larger downpayment and a conventional mortgage, break-even cash flow is closer to reality than any time in a decade.
Here’s another thought, for those of you who are inclined towards single family homes rather than condos: 20 percent downpayment will buy a single family residence in Orange County, and still get under the magic conforming figure of $417,000 to get those great 4.x% loans. And rates are still extremely low for loans above $417,000….lower than any time in the past few years.
Have we piqued your “interest?” Rates in the “fours” won’t last forever. What an opportunity! Call us at (949) 240-5892, or send us an email, and let’s start strategizing and building a real estate portfolio!
Danawoods During the Holidays!
December 21, 2008
It’s Christmas season in Danawoods, and once again, our neighborhood has gone all out (or “all in”) to make Danawoods look its festive holiday best!
Have a horn to toot? Special anniversary? College acceptance? Community or civic vounteerism? If you have a story to share, call us, or send it to us via email. Let us help to get your good news out to share with our Danawoods neighbors!
Reflecting Upon Our “First” Twenty Years
December 20, 2008
For the past 20 years, we have worked in an office that averages 120 full time agents. Our culture of teamwork and mutual respect is not common among agents in the real estate industry. As a result, our Dana Point/Laguna Niguel office at First Team continues to be the top selling office in the company of 30-plus offices as well as the top selling office in all of South Orange County!
First Team has always been at the head of the class when it comes to advertising and marketing designed to get our sellers the highest possible price. Because of this commitment and investment…more sellers and buyers end up working with a First Team agent. More buyers see our print and internet ads…more buyers see our signs..which means more opportunities and more SALES! Other agents jump from one company to another seeking “better deals” and better tools, or due offices or companies shutting its doors. We are still, after 20 years of service, right where we began!
Let’s start the next twenty years by looking forward! If you think that now might be the time to begin accumulating real estate for your future, call us at (949) 240-5892, or send us email. Let’s start working on our resolutions for 2009!
Merry Christmas & Happy New Year!
December 20, 2008
Everything has changed in 2008! And the residential real estate business that we have built over the past 20 years continues to change by the minute!
Just when we think we know what to expect…we enjoy the opportunity to learn a new way of meeting a challenge and solving a new problem. Those 20 years of experience always give us a point of reference…and guidance for today’s challenging market.
Know that we value your business and your referrals, and that we are interested in constantly earning both! We will answer questions about your home’s value, about buyers, distressed sales and purchases, and about real estate investment planning! Call us (949) 240-5892 for a confidential consultation.
Service begins with asking questions. How can we help you? Do you know of a friend, family member, or co-worker…someone needing trustworthy advice?
Blessings to you and your families and may your 2009 be filled with laughter, good health and simple abundance!
“Love where you live…live where you love!
It all begins at home!”
November 2008 Danawoods Mintues
December 6, 2008
Here are some excerpts from the November meeting of the Danawoods HOA Board of Directors:
Landscape Contract: The Board reviewed the new contract submitted from O’Connell Landscape for the upcoming year 2009. A motion was made, seconded, and unanimously carried to approve the contract submitted from O’Connell Landscape with no increase for the year 2009. The monthly contract price will remain at $7,891.36.
Reserve Study: The Board reviewed the revised reserve study submitted by Foresight Financial Services. A motion was made, seconded, and unanimously carried to approve the study with the Association showing a level of funding at 79%.
Budget 2009: The Board reviewed two (2) different options for the upcoming 2009 budget. A motion was made, seconded, and carried to approve the version of the budget showing no increase in the monthly assessment and an increase in the management company’s contract of 3%.
New Listings Coming Soon!
December 6, 2008
We have just listed two great homes, each coming to market in the next few days. The first is in Dana Point, priced at $619,900, offering 3 bedrooms, 2 baths, on a single level, cul de sac location, with no homeowners assocation, within walking distance to Salt Creek Beach.
The second home is in Aliso Viejo, also detached, priced at $1,049,000, 5 bedrooms, 4 baths, over 3000 square feet with unbelievable view of canyon and sunsets! This beautiful home is a short sale, and could be a great buy for one lucky buyer.
Interest rates dropped like a stone this week, and are expected to fall further this month. Projections, from those who make them, have included mortgage interest rates falling to 4.5%; some of these admittedly optimistic pundits have equated this dramatic reduction in rates to a rebound in the real estate market in 2009. Although no one knows for sure what will happen next year, to some degree, increased optimism can only help.
Giving Thanks After Thanksgiving
December 3, 2008
Has it become more difficult to fund your kids’ educational and extra curricular activities during these recessionary times? Do you feel helpless when friends or family are facing job losses or foreclosure? Let’s tie those two problems together and tailor a win-win solution!
Please refer us to your friends or family in need of selling. Not only will we consult with and assist them when and where needed, but should your referral end up as a closed escrow, we will also make a donation in your name to the team, charity, or school of your choice.
While on the subject of helping others…we would like to mention two charities this month:
St Edward the Confessor, Dana Point, Food Pantry, provides food to the homeless and working poor each week. Their pantry is in need of canned goods, especially those that do not require a can opener. Contact: Mary Bauer, or deliver to St. Edward Church.
Contact Info: 949.496.1572, 33926 Calle la Primavera, Dana Point
9:30am – 3:30pm Monday & Wednesdays, 9:30am – 12:30pm Friday
Loaves and Fishes, Santa Ana, a soup kitchen serving 800 homeless and working poor each Saturday at St. Joseph Catholic Church in Santa Ana. They are in need of hot cocoa (large bulk size from Smart & Final), boxes of cereal, peanut butter, $5 gift cards for Burger King, adult new socks, gently worn jackets, and new or like-new blankets.
Contact Info: 714.542.4411, Maria Dzida, Director, 727 Minter St., Santa Ana
If you have a favorite charity, let us know via email. We would be glad to mention it here in the future.
“Love where you live…live where you love!
It all begins at home!”
