Orange County Real Estate Blog

Average Home Prices | Brea | Orange County | CA

2011-09-19T07:16:00Z

Type	Size	Sold price	SP/SqFt	SP/LP	DOM
Attached homes	1327 SqFt	$303,000	$230/ SqFt	98%	86
Detached Homes	2065 SqFt	$503,000	$253/ SqFt	97%	87

Note: Days on the market could be much lesser and representing a false number here due to properties staying on the market longer due to short sales. Median home price for Brea is $455,000.

Data source: SoCalMLS

Average value of Brea Homes as of 09/19/2011

Duplex in Placetia CA

2011-09-13T08:05:00Z

Two units on a R-2 zoned lot

One 2 bed 1 bath with two car garage

One 1 bed 1 bath front unit.

Near Valencia High School.

For further information to buy this one call:

Namneet Dhaliwal

714-932-9409

www.namneet.com

namneet@namneet.com

Price Reduced on 202 S Laurel Ave in Downtown

2011-08-23T18:43:00Z

Downtown, Brea - Announcing a price reduction on 202 S Laurel Ave, a 2,100 sq. ft., 3 bath, 3 bdrm 2 story. Now $464,900 - Just reduced!.

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Home Affordable Forclosure Alternative

2011-08-16T05:14:00Z

Wondering if you should do a short sale or not!

Namneet Dhaliwal is a Certified Distressed Property Expert, CDPE and Short Sale Foreclosure Resource Specialist, SFR. You may be eligible to buy immediately of in two years depending upon the circumstances. You may qualify for $3000 or more help to get through the move. Contact Namneet today to help you walk through the complexities of short sale transaction. Before you decide to walk away, contact me. For free information call or text 714-932-9409.

Price Reduced on 202 S Laurel Ave in Downtown

2011-08-03T05:20:00Z

Downtown, Brea - Announcing a price reduction on 202 S Laurel Ave, a 2,100 sq. ft., 3 bath, 3 bdrm 2 story. Now $489,900 - You can now afford this!.

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Time to Give Back – Foreclosure Angel Foundation

2009-08-26T17:46:00Z

For last two years, a major portion of my business came from selling REO Bank Owned properties in Orange County CA. The toughest part of the whole assignment is to go to someone’s home and tell them that they no longer own their home and need to move out.

People react differently each time, from helplessness, hopelessness expression to outrageous rage. Regardless of how they got there, whose fault it was, uprooting is not an easy situation to deal with. Although, it is like any other job that someone has to, and here it has to be an REO agent, I could never forget one incidence where we did the Cash for Keys; previous homeowner turned back, walked in to the house, she looked around at the walls and walked away with tearful eyes and a sigh of grief. That moment engraved in my mind and I still remember it.

Since then, I been thinking of how in the world, I could help, even if it is only for few people, each saved home makes a difference in someone’s life and builds that trust in humanity. Finally, that wish is coming true. I belong to a group, REO Masters Network. We are hosting a Fund raising party on Sept 21^st at five star conference in Fort Worth, Texas, inviting Asset Managers, REO Realtors and lender community. We expect to have between 1000-1500 attendees. All the proceeds from this event will go to Foreclosure Angel Foundation. I am very impressed with Marilyn Mock’s work, she started this Foundation in 2008, helping her neighbor who was about loose her house.

Since then, this foundation has helped people to save them from this devastating situation. For anyone out there who ever had this thought of helping people in this situation, lets help Foreclosure Angel Foundation, one person, for one home, one neighborhood, one town at a time, we can all make a difference for our country.

If you would like to attend this fund raising event, go to https://lifepower.infusionsoft.com/go/charity/namneet/

Thank you so much for supporting this cause.

Namneet Dhaliwal- REO Specialist Orange County CA

http://www.namneet.com

Orange County CA Housing Market

2009-08-21T18:29:00Z

Jan 2009 - July 2009

Many people wonder about the current conditions of Real Estate Market in Orange County CA. Here is the synopsis of last seven months Real Estate Activity. On the average, there has been a rise in the price particularly in median to lower price range home where there is a bigger pool of first time buyers and investors. Even though average number of days on the market is still high but its real number s obscured by short sales that stay on the market due to the lengthy approval of this process. Most of the right priced REO properties or standard sales are selling within days, over the list price with multiple offers and, causing problems with the appraisals. Pricing is controlled by the appraisals at this point, which is good for a healthy recovery to avoiding a false increase in the values.

The biggest skepticism about the following rosy pictures is that how long would it stay like this, with all the shadow inventory of already foreclosed homes, that been held off the market since beginning of moratoriums and ongoing defaults and the job losses.

Month	New	Avg LP	Under Contract	Avg LP	Sold	Avg SP	%SP/LP	%SP/OLP	Avg DOM

Jul-09	9,319	$549,844	4,096	$456,841	6,364	$443,456	98.26%	92.10%	79
Jun-09	9,105	$609,447	4,385	$440,333	6,081	$437,722	97.86%	90.66%	79
May-09	8,836	$646,921	4,133	$394,064	5,853	$422,417	96.86%	89.50%	79
Apr-09	8,890	$586,367	4,363	$462,898	5,445	$396,834	96.27%	87.83%	77
Mar-09	9,797	$595,456	4,245	$369,541	5,271	$397,003	95.93%	88.01%	77
Feb-09	8,854	$558,251	3,464	$382,709	4,093	$391,877	96.70%	88.70%	74
Jan-09	10,051	$578,832	3,364	$432,568	4,140	$414,342	96.67%	89.27%	77

Orange County CA Housing Market Jan 2009-July 2009

By Namneet Dhaliwal –REO specialist Orange County CA

Source: SoCal MLS August 19, 2009

Orange County CA housing supply shortage – Buyers are struggling to get into the market

2009-08-05T18:05:00Z

There is a significant decrease in number of available homes for sale and increase in pending home sales in Orange County California. When comparing to the number of May 24^th 2007, there were 16,238 active listings and only 3,001 properties in pending status, today’s figures are reversed, half actives and almost doubled pending sales. As of August 5^th 2009, there are 8,750 active listings in Orange County and 6461 properties in pending status according to SoCal Tempo MLS.

For properties below the median price range, buyers are struggling to get in the market and are willing to pay over the list price. Appraisers are having hard time to appraise to those values. In many cases, buyers end up paying the difference between the appraised value and the sales price. In multiple offer scenarios, buyers are asked to remove the appraisal contingency and show the proof of extra funds. All this leaves genuine families out and people with the cash power get the property. But, this is not the case for properties in higher price range, those are still in declining mode and sit on the market for a longer period.

All this appears to be a result of multiple moratoriums and is not a stable trend, but what could be better time than this to start bringing in the shadow REO inventory in to the market, and let the right candidates buy? Although lending is tough, today’s buyer is more stable than Real Estate Boom time, which could lead to healthy slow but steady recovery in the future.

Orange County CA Real Estate - Foreclosure Acitvity Sept. 2007

2007-10-03T05:26:00Z

Sept. 2007 Unusual Month or Moment of Relief For Foreclosure Turmoil

It is the first time in last twelve months, that foreclosure curve for Orange County CA Real Estate had turned its direction. Although, it is premature to say if it is just an isolated monthly statistic or an early sign of stability but for sure it is reassuring

There are buyers looking for the good deals, including REO and Short Sales.

Homeowners who are late or unable to make their payments, they should be talking to their banks to make a different payment arrangement. At the same time they can market their property for short sale, so if numbers do not work with the bank, they have another avenue to avoid foreclosure on there record. Although there are, tax consequences but short sale may reduce lenders losses and hence tax amount for the seller. "Do it your self," technique in this matter could be costly, a professional opinion should be preferred

Data Source: County Records Research

Created By Nameet Dhaliwal

Orange County CA Real Estate

Foreclosure Activity September 2006 to August 2007- Orange County CA Real Estate

2007-09-15T09:53:00Z

Still a Slippery Slope

By Nameet Dhaiwal Realtor

Orange County CA

September 15, 2007

Almost a year ago, default notices and trustee sales notices started to rise. Home sales were slower in 2006 as effects of decreased affordability caused by a sudden increase in home prices due to an ample availability of money. Towards the end of the year, there were too many expired listings. Sales continued to decrease, and then the market got hit by a sudden strictness in the credit score guidelines in March 2007, many fell short of refinance or selling their house, ending up with a default notice. July 2007 got a surprise from the Wall Street when investors suddenly realized the risk and stopped buying 100% financed loans, the nations banking system caught it as a surprise causing many banks to file bankruptcy and close their doors to the employees.

Big giants, such as Countrywide, are still facing challenges and many of the institutions, such as Chase Mortgage and Washington Mutual etc., increased their overnight lending rate for jumbo loans, as now they cannot sell, instead would have to portfolio these loans. There has been a big pendulum swing from one being able to get any loan a year ago, to handicapping the today's homebuyers with best credit and good down payment. Effects of Wall Street's panic in last few months will show its effects in coming months.

This whole turmoil is leading to more defaults and trustee sales and more of these properties going back to the lender, becoming REO (real estate owned) are causing a further burden on these institutions. Although Fed admits about being aware of the situation at this time and promising to take needed steps but for may people its day late and dollar short.

Here are the numbers for last one-year foreclosure activity for Orange County CA Real Estate, starting Sept 2006 to August 2007 according to date collected from County Records Research. Every month it is slipping further and causing uncertainty in the market.

Orange County Ca Real Estate – July 2007 Foreclosure Report

2007-08-01T21:50:00Z

By Namneet Dhaliwal, Realtor

August 1, 2007

July 2007 marks as the worst month for notices of default and trustee sales in past 12 months. There were total of 1800 homes owners who got these notices. Although a small margin of error is possible due to some duplication.

Majority of these homeowners may not end up loosing their homes. However relatively speaking when numbers jump form 592 in July of 2006 to 1800 for July of 2007, there will be more people loosing their properties. There is a surge of short sale and REO listings in the area.

It does not appear to get better any time soon due to sluggish home sales, increasing inventory and tightening lending guidelines.

Date source:

County Records Research

So Cal MLS

Confusing Median Home Prices

2007-07-13T00:06:00Z

By Namneet Dhaliwal Realtor, Orange County CA

July 12, 2007

The numbers are conflicting with the actual market value of homes.

Many people look at the median sale price to gauge current real estate market trends. Median sales prices can be very deceptive as it only measures the middle point of properties sold above and below that price regardless of the size, age or location of the property. If one month more homes sold in a higher priced neighborhood of the city, it will bring up the median price. In this market with a low affordability index, increased home listings on the market and tighter lending guidelines, many people are having a hard time keeping up with mortgage payments. It has been difficult for an entry level buyer to buy at today’s price, and as these buyers get pushed out of the market the number of lower end home sales are going down hence resulting in a false increase in the median price. Here is an example of a few cities of Orange County CA Real Estate.

City	Avg Sales Price 06/07	Avg Sales Price 05/07	Avg Sales Price 04/07	Avg Sales Price 03/07	Avg Sales Price 02/07	Avg Sales Price 01/07
Buena Park	$599,073	$606,357	$564,942	$572,644	$537,481	$535,027
BREA	$753,476	$626,460	$641,905	$646,825	$676,585	$594,220
Fullerton	$718,423	$691,356	$686,132	$658,307	$669,594	$593,118
La Habra	$523,394	$624,686	$580,765	$586,924	$567,841	$497,558
Placentia	$627,090	$542,159	$671,250	$630,153	$572,833	$560,332
Yorba Linda	$904,730	$893,445	$793,375	$800,960	$834,579	$828,742
Average	$687,697	$664,077	$656,394	$649,302	$643,152	$601,499

Source SoCal MLS

The majority of these cities except Buena Park and La Habra CA for the month of June 2007 are showing increase in the average sales price. Contrary to this, the fact is that the majority of recently sold homes were actually sold below the last sale of a similar home in the area. In conclusion, the median price alone is not an accurate and true measure of the real estate market.

Price Reduced on CA-1519 Zachary Ct. in Brea Chem - Only for $675,000

2007-06-20T16:25:00Z

Brea Chem, Brea - Announcing a price reduction on CA-1519 Zachary Ct. in Brea. A 2,100 sq. ft., 3 bath, 3 bdrm,2 car attached garage 2 story single family home built in 1996, Now MLS® #P565661 $675,000 - Just Reduced - Best Price - Best deal for the buyer. Last closed sale at $715,000. So $40,000 saving today, at this price it will not last.

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Single Story For Sale in South West La Habra

2007-06-12T07:21:00Z

Great starter home

• 1,651 sq. ft., 2 bath, 4 bdrm single story "No steps inside the house" - MLS® #P582564 $550,000 - Motivated Seller

South West La Habra, La Habra - This 4 Bedrooms, 2 baths, 2-car garage - single family detached home on a large lot located in prestigious neighborhood of La Habra CA makes it a perfect starter home. New cement driveway, central air, open kitchen, individual laundry room, fireplace and very private backyard. Hardwood floors under the carpet, clean and well maintained home. Great location for working families of Orange County CA and Los Angeles County CA . Bring your best offer.

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Open House in Brea Chem on Sunday

2007-05-15T03:10:00Z

Brea Chem, Brea - We invite everyone to visit our open house at CA-1519 Zachary Ct. on May 20 from 1:00 PM to 4:00 PM.

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