Inventory is Still the Story
June 23, 2010
There’s no getting around it…the Orange County real estate market is a slave to basic economics.
Supply and demand, the basic principle we all earned in Econ 101, still applies in the real world. Right now, using Dana Point as an example, and the “Big Four” neighborhoods as a snapshot, you’ll notice that there are twelve (12) homes in escrow, but only seven (7) available for sale. That’s low inventory.
Now, with uncertainties in the market (war, BP oil spill, foreclosures), one could argue that demand is also low, or in balance with supply. From an agent’s perspective, we can tell you that those seven available listings are NOT enough of a selection for the buyers we are working with currently, who are looking for a single level home in one of these same four neighborhoods in Dana Point. Low inventory again – and this same condition exists in most other coastal cities in Orange County.
Buyers: is this summer a good time to buy? Yes, interest rates are phenomenally low….under 5%! Prices are also way, way down from their 2005 peaks – in some cases, home prices in Dana Point and South Orange County are down 30-40% from their previous highs. Low prices, and low interest rates.
Sellers: does this mean that now is a bad time to sell? Not necessarily. Remember, if you are planning to buy down, buy laterally, or buy up, there really isn’t a bad time to sell since you are also buying simultaneously. For most families, a sell-and-buy event can be thought of as simply moving one’s mortgage from one house to another (don’t forget the closing costs, though).
Want more insight? We’re out there “in the trenches” every day! Call us at (949) 240-5892, or contact us via email.
Ten Woodworking Projects that Can Increase Your Home’s Value
June 23, 2010
As Realtors, we can testify as to the impact that upgraded custom woodworking in a home can have upon a buyer’s first impression. As homeowners, we can also attest to the value and pleasure that these improvements bring to us every day. If you need a referral to a finish carpenter, we know a couple of very good ones and would happily provide a reference.
Meanwhile, here is an excerpt from one of those craftsmen, Greg Pautsch, a finish carpenter in San Clemente:
Everybody has a “ten best list,” but there are many enhancements you can make to your home to increase its value. What’s more, these are also the types of improvements that YOU can enjoy as a proud homeowner!
Our Ten Best Woodworking Projects for 2010:
- Upgrade or install new interior doors
- Upgrade or install a new entry door to increase curb appeal
- Install exterior doors and new weather stripping to preserve the doors and be more energy efficient
- Upgrade old windows and be more energy efficient
- Baseboard upgrades – an array of choices
- Window casing upgrades can give that finishing touch of elegance
- Door casing will finish those beautiful upgraded doors or enhance the beauty of the existing doors
- Wall paneling and wainscots can change a room from dull to dynamic
- Add ceiling details to make a room look even larger and give a fine architecture appeal
- Upgrade any room in your house with crown molding for that sophisticated feel
Fourth of July Contest!
June 23, 2010
In honor of our upcoming holiday, we will be taking a little break from the serious of the real estate market to celebrate our nation’s anniversary.
Submit an essay to us via email. The topic can be either, “Why I Love Being an American,” or “My Favorite American Person Is…” The deadline for essays is June 30th. Winning entries will be featured in our July 4th newsletter, here on Danawoods.info, and on our Roknich.com website (all with the author’s permission, of course).
Fourth of July Fireworks! From the City of Dana Point website:
Don’t miss one of South Orange County’s best aerial fireworks displays right here in your own backyard! The annual show starts at 9:00pm at our very own Dana Point Harbor.
The fireworks are synchronized to a captivating musical score. Gather your family and friends, tune your radio to KSBR 88.5FM, look toward the skies over Doheny State Beach and experience this patriotic extravaganza! Important: personal vehicle access to the harbor closes at 7:30pm; only buses will be allowed in during the closure. Harbor access will reopen after the fireworks show traffic has cleared out (approx. 10:30pm).
FREE shuttle buses will make round trips from Dana Hills High School to Dana Point Harbor from 10:00 a.m. to 11:30 p.m.
Or see the fireworks and beautiful harbor lights from the ocean on the sport fishing boat, Sum Fun! Refreshments are provided; bring a folding chair if you wish to sit. Boat boards at 7:30 p.m. There is also a fireworks dinner cruise on the Dana Pride. Cost and details for these two opportunities are found online on the City of Dana Point’s website.
Check your city for similar shows, including fireworks displays all over Orange County (Mission Viejo, San Clemente, San Juan Capistrano have great shows as well in most years…).
Referrals Rock! I am grateful that so many of you, our Dana Point neighbors and friends, have referred us business in 2010!
Thanks for continuing to keep us in mind when your friends, coworkers, and family are in need of professional real estate advice and service. We work throughout SoCal, but enjoy a large network of pros across the USA. We’re your one-stop real estate shop!
“Love where you live…live where you love!
It all begins at home!”
Neighborhood Watch
June 23, 2010
As some of you know, there has been a report of burglaries on Danamaple. According to a neighbor, the thief or thieves stole personal items from three unlocked cars overnight, including a garage door opener from one of the cars.
Unfortunately, the owners of the opener did not notice it missing until after their home was burglarized. Among the items stolen were laptops, jewelry, guitars and alcohol.
The O.C. Sheriff’s Dept. received a report of a suspicious person on Danafir, but was unable to locate him upon their arrival. This person is described as: white/Caucasian, male, about 5’7”, thin, in his 20’s, wearing a black cap, an olive jacket and white shoes. The DPPD/OCSD has requested that residents call (949) 770-6011 with any information pertaining to a person matching this description in Danawoods.
The Sheriff’s Department is promoting a program called, “Hide It, Lock It, or Lose It.” Check out their informative website.
We will be scheduling another Neighborhood Watch meeting very soon. Stay tuned here for date and location, or contact us with questions.
Fourth of July Fireworks in Dana Point!
June 22, 2010
Fourth of July Fireworks! From the City of Dana Point website:
Don’t miss one of South Orange County’s best aerial fireworks displays right here in your own backyard! The annual show starts at 9:00pm at our very own Dana Point Harbor.
The fireworks are synchronized to a captivating musical score. Gather your family and friends, tune your radio to KSBR 88.5FM, look toward the skies over Doheny State Beach and experience this patriotic extravaganza! Important: personal vehicle access to the harbor closes at 7:30pm; only buses will be allowed in during the closure. Harbor access will reopen after the fireworks show traffic has cleared out (approx. 10:30pm).
FREE shuttle buses will make round trips from Dana Hills High School to Dana Point Harbor from 10:00 a.m. to 11:30 p.m.
Or see the fireworks and beautiful harbor lights from the ocean on the sport fishing boat, Sum Fun! Refreshments are provided; bring a folding chair if you wish to sit. Boat boards at 7:30 p.m. There is also a fireworks dinner cruise on the Dana Pride. Cost and details for these two opportunities are found online on the City of Dana Point’s website.
Check your city for similar shows, including fireworks displays all over Orange County (Mission Viejo, San Clemente, San Juan Capistrano have great shows as well in most years…).
Foreclosure v. Short Sale: Will a Short Sale Save Your Credit?
June 14, 2010
Do you know of someone who is in default on their mortgage, or has lost a job and will soon be facing financial difficulties? Where should they turn for advice?
Call us first! And be cautious about internet “experts,” where scams abound and bad advice like this goes unchecked: “oh, just do a short sale without any harm to your credit.” But here’s an excerpt from the Minneapolis Star Tribune, by Kara McGuire, that reveals how foreclosures AND short sales can wreck credit.
“Both short sales and foreclosures are considered negative by the score, because our data shows us it’s very predictive of future credit risk,” said Tom Quinn, Fair Isaac Corp.’s vice president of FICO scores. “The claim that doing a short sale is not going to hurt your score is false. It’s inaccurate.”
Read the entire article on RISMedia.
Summer is Almost Here!
June 7, 2010
Congratulations to all our recent graduates in Danawoods! Whether you are graduating from middle school, high school, or college…we wish you success in your future endeavors!
Parents, will your nest be empty soon? Are you considering a smaller home? Are you ready for that ocean front home, or 3-car garage, now that you will have the whole space for yourselves? This is also the time of year that we hear from our clients who are considering investing in a rental – now that they are free of tuition payments!
Please remember – we are interested in earning your business – we have the experience and track record to help you make the right move. The market right now is HOT, HOT, HOT!! But how does this tidbit of information relate to you and your home?
Call us for a free in depth market evaluation that includes First Team’s exclusive Market Trends data! It’s the closest thing to the crystal ball I requested years ago!
“Love where you live…live where you love!
It all begins at home!”
Notice of Annual Danawoods Meeting
June 7, 2010
The purpose of the Annual Membership Meeting in 2010 is to elect three (3) Directors to the Board to serve a two-year term each.
Meeting Date: Wednesday, June 16, 2010, 5:30pm
Location: Dana Hills Tennis Center, 24911 Calle de Tennis, Dana Point
