NEW LISTING – Mission Viejo

Superb resort style living in highly desirable gated community. Golf course views from living room with fireplace, dining room, kitchen, master suite and patio deck.  A lovely 2 bedroom, 2 bath with upstairs loft and den. Den could be converted to 3rd bedroom if desired.  Kitchen and bathrooms have been upgraded with travertine floors, granite countertops and custom built cabinets. Energy efficient double paned windows throughout. Kitchen has its own breakfast nook, GE profile gas stove, microwave, trash compactor and dishwasher. The second bedroom is in the front of the home with guest bathroom across the hall.  Remote controlled Hunter Douglas blinds and variable lighting provide privacy in the step down living room. Private deck overlooking golf course, lush trees and hills.  Don't miss this opportunity to see this beautiful large golf course view home. Won't last long.

23426 Coso #172
Mission Viejo, CA 92692

Key Details

• Price$399,000
• Bedrooms2
• Bathrooms2
• Square Footage1515
• Acreage0
• Year Built1982
• Listing ID #OC13238385
• Listing StatusActive
• Listing Provided By Dan Keller of Keller Williams Occ Realty (DRE: 01405308)

Location

• Street Address23426 Coso #172
• CityMission Viejo
• StateCA
• Postal Code92692
• CountyOrange
• AreaMISSION VIEJO CENTRAL
• Elementary SchoolCastile
• Junior High SchoolFeed Newhart
• High SchoolCapistrano Valley
  Capistrano Valley High School
  Public School
  4/5 Quality Rating
  26:1 Student-Teacher Ratio
  Capistrano Valley High School Full Report
• School DistrictCapistrano Unified

Money

• HOA Fee IncludesPicnic Area, Hiking Trails, Club House
• Association Fee395.0
• Association Fees Payment FrequencyMonthly
• Price per Square Foot263.37

Rooms

• Bedroom descriptionAll Bedrooms Down, Main Floor Bedroom, Main Floor Master Bedroom, Master Bedroom, Multi-Level Bedroom
• Kitchen AppliancesRange, Built-Ins, Gas
• Other RoomsOther, Entry, FamilyRoom, Study

Structures

• Number of Carport Spaces1
• Garage Capacity1.0
• Parking Spaces2
• Patio DescriptionDeck(s), Enclosed
• Pool DescriptionAssociation Pool
• PoolYes
• Spa DescriptionAssociation Spa

New Listing: 34595 Calle Rosita, Dana Point

Amazing location in Capo Beach 

with tons of potential

34595 Calle Rosita, Dana Point

Location, Location, Location! Capo, Capo, Capo! Get in on the ground floor of this up and coming coastal community. This property is one of the best investments in Capistrano Beach. Sold "As Is". Fix it up and have a true mid-century gem within walking distance to Pines Park and the Beach.

Link to Full Property Profile

8 Tips For Finding Your New Home

A solid game plan can help you narrow your homebuying search to find the best home for you. 

When looking for your new house, make sure to take into consideration how long you plan to stay there.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1. Know thyself

Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2. Research before you look

List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.

3. Get your finances in order

Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing. 

Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4. Set a moving timeline

5. Think long term

Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.

6. Work with a REALTOR®

Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality. 

Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

7. Be realistic

It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded. 

On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.

8. Limit the opinions you solicit

It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.

Top 10 Reasons to Hire a Real Estate Agent

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New Listing: 36 Highpoint, Aliso Viejo

FORMER MODEL HOME IN PACIFIC RIDGE COMMUNITY FOR SALE. 

  ONCE IN A LIFETIME OPPORTUNITY TO OWN THIS BEAUTIFUL, END OF CUL-DE-SAC LOCATED PROPERTY WITH OVERSIZED LOT AND EXPANSIVE VIEWS FROM BACKYARD AND BEDROOM.

  Timing is everything.

  You are the “King of the Hill” in this former model home  offered for sale.

 This spectacular property located at rare end of a cul-de-sac is being offered to fortunate buyer. Expansive views without any development on entire backyard of the property overlooking Saddleback valley with unobstructed views southeast of Saddleback valley. Enjoy the unobstructed moon- rise directly centered over the backyard. This property features:

1. End of cul-de-sac location located within 5 miles of downtown Laguna Beach and easy access to the toll road (approx. 1.5 miles to route 73);
2. Extra-long driveway and over-sized backyard rarely seen in this development and can accommodate a pool or spa;
3. Property located on the highest point of the development with unobstructed views of Saddleback valley;
4. Upper-level deck view build-out possible to enhance already spectacular valley views;
5. Naturally-flowing ocean breezes migrate from Laguna Canyon up the street to the property;
6. Beautiful moonrises and full moons directly centered over your unobstructed backyard;
7. Fireworks are viewable every July 4th from Laguna Beach to Dana Point to Coto de Caza from your backyard or upstairs bedroom;
8. Must see to appreciate.

  

Rarely on the market, this gorgeous piece of property is the perfect combination of a huge lot, unobstructed view of Saddleback Mountain and city lights, and a well maintained home at the end of a cul-de-sac. Largest model in the tract, this three bedroom home can easily be 

converted to a 4-bedroom, which was a builder option. Enjoy the oversized family room with oversized fireplace, family kitchen with lots of storage and a walk-in pantry, living room and dining room. Upstairs laundry room with utility sink for added convenience. Beautiful newer hardwood floors downstairs, crown molding, textured designer carpet upstairs, are a few of the many upgrades in this home. The master suite has a separate tub and shower, dual sinks, and a huge walk-in closet. Enjoy the 3-car garage with lots of storage and an extra long driveway for plenty of parking.

4 Reasons Consumers STILL Need an Agent

The Keller Home Selling Team wants to thank the Trulia Pro Blog for this great information!

4 Reasons Consumers STILL Need an Agent

Jovan Hackley

In a world where the Internet makes marketing miracles possible and home data seems to flow free, every once in a while you’ll hear of someone attempting to buy or sell without an agent.

While some stories speak of success, they also reveal the time, expertise, and energy that go into a sale and the indisputable benefits of having an agent.

Here are four ways a recent story of an Australian owner taking charge of his property marketing showed that marketing and managing a home is a time-consuming undertaking and why now, more than ever, smart consumers need to use a real estate agent. The story was that, thanks to social media, a homeowner sold his Californian bungalow for $A1.05 million, $135,000 above the asking price.

1) Online marketing takes time and expertise

According to various Down Under news sites, the owner set up a website, blog, Twitter feed, YouTube videos, and a Picasa photo page for the home.

This story illustrates two things – both that online marketing works, and that it takes hours of effort. This home sold above its asking price as a result of the interest generated by a professional’s online marketing efforts — Opray is a professional online marketer who spent many hours every day promoting his home through these multiple channels. Most sellers don’t have this level of expertise or the time to spend on the effort.

Agent tip: Show sellers a detailed marketing plan for their home and keep them up to date on what’s happening with their property. Tools like Trulia’s Client Listing Reports can be a big help.

2) A home’s information alone is not enough – every home lives in a market

Opray was quoted in the National Business Review, “I know my house better than any agent. Who better to sell the house than me?”

This comment is typical of someone who doesn’t realize that knowing about a home is just the first step. The real key to moving a listing is knowing how that home fits into the market – and only a professional brings that kind of focus and real experience.

Agent tip: Show prospective clients a local market overview that demonstrates the deep expertise and knowledge you bring to the table. Trulia’s Local Pages can help you show data clearly.

3) Showings and connections sell homes

From TheMoveChannel.Com: “Opray aimed to bring as many buyers to the home’s blog as possible, giving them a personal insight into the house.””

To sell his property, Opray had to develop a following and create connections online. This is easy for agents, who are already tapped into a network of people buying and selling.

Agent tip: Your connections in your local and agent community matter to sellers. Your knowledge of local listings and buyers will remind them that they’ll benefit by working with you.

4) Even the smartest use an agent for expertise

Even with all of Opray’s social media efforts to help sell his home on his own, in the end he hired an agent.

Agent tip: Despite all the online resources available to home sellers today, they still need agents. Use these points in your listing presentations to demonstrate that the selling process, and the results, are more effective with an agent.

NEW LISTING IN TALEGA!

11 Calle Anacapa, San Clemente

      From the moment to walk in the inviting front entry way you are greeted with simple elegance and serenity. Never before on the market, this home was hand picked for its large lot and numerous upgrades. The unique gallery entry welcomes you into the dramatic 2-story living room and dining room with the focal point being a gorgeous fireplace with custom mantle. Two bookcases flank the fireplace making it quite a statement. The open concept kitchen and family room make this home an entertainer's dream. The kitchen has soaring two-story ceilings and is a cook's paradise with two separate ovens, a 5-burner stovetop, built-in refrigerator and microwave, and an oversized center island. The family room is home to another fireplace, custom faced with chunky stacked stone. The custom designed entertainment center is perfect for housing your electronics and can be customized to fit any flat screen. The private backyard is a sanctuary with beautifully landscaped grounds complete with garden beds, rose bushes, mature trees, huge grassy area, and outdoor living space with built-in fire king BBQ and surrounding bar. With three bedrooms downstairs, including the master suite, and one large bedroom and bath up, and a large loft, everyone can have their own space.

Selling a House? Don’t Overprice It

by THE KCM CREW on JULY 15, 2013

There is no doubt that the housing market is coming back nicely. What, if anything, could slow down the current momentum? We believe it may be sellers’ over exuberance when it comes to pricing. There is little doubt that house prices have appreciated over the last twelve months in most regions of the country. However, with both the inventory of homes for sale and interest rates increasing, we have to be careful to not over judge what the market can bare.

Trulia just reported that asking prices have jumped dramatically and the increase is accelerating:  

• Year-Over-Year prices jumped 10.7%
• Quarter-Over-Quarter prices jumped 4.1% (16.4% annualized)
• Month-Over-Month prices jumped 1.5% (18% annualized)

No expert is expecting home prices to shoot up 18% in the next twelve months. If anything, price appreciation may slow as rates and inventories increase. Investors will begin to slow their purchases and the first-time buyers expected to take their place will be working within a pre-set budget in many cases.

Buyers’ Purchasing Power

Let’s look at an example: A young couple is looking for a home and have predetermined that their budget will only allow them to spend $1,000 a month on a mortgage. At today’s mortgage rate of 4.5%, they could afford a $200,000 mortgage ($1,013 principal & interest). However, if rates jump to 5%, they would have to lower their mortgage amount to $190,000 in order to keep their monthly payment where they need it ($1,020). At 5.5%, the mortgage would need to be no more than $180,000 ($1,022).

The Impact on Prices

This decrease in buyers’ purchasing power will have an impact on home values going forward. We do not believe it will cause a decrease in prices. However, we do believe it will likely cause current rates of appreciation to slow.

If you are thinking about selling your home, don’t get carried away with current headlines about home price increases that have taken place over the last twelve months. Instead, call a local real estate professional. They will be best prepared to explain where prices are headed over the next six months. 

NEW LISTING in Laguna Beach!!!

This charming beach cottage styled residence captures the essence of Laguna Beach’s casual lifestyle. A special home which can be used as a two bedroom, or split level with separate entrance & income generating capabilities. The property redefines "charming" and offers panoramic ocean and Catalina views with a decked out kitchen, stainless DCS appliances and comfortable living area, with true cottage decor: beamed ceilings, beadboard, hardwood floors, neutral colors, granite and tumbled stone & wrap around trex like decking overlooking a majestic ocean. Conveniently located close in walking distance to beaches, restaurants and night life.

Existing-home sales highest since 2009

Existing-home sales in May were up 12.9% from the same period in the prior year — the largest growth since October 2011. Meanwhile, year-over-year median prices rose 15.4% in May, the largest growth since 2005.

Institutional Investors:Their Impact on the Housing Market

The real estate conversation in many corners has been dominated by the potential impact that ‘institutional investors’ may have had and will continue to have on the housing market. Institutional investor is a term used to define organizations which pool large sums of money and invest those sums in securities, real property and other investment assets.

These large institutional investors are buying residential properties throughout the United States. The New York Times recently reported that the Blackstone Group, the largest investor in single-family rentals in America, has recently bought 26,000 homes and that Colony Capital owns 10,000. There are other such firms also adding to their portfolio. In a recent Seeking Alpha article, Chris Martenson revealed that JPMorgan has initiated a fund to buy up to 5,000 homes and that Morgan Stanley has raised money to buy up to 10,000 homes.

Some are concerned that renters and absentee landlords may not properly maintain these properties. Others wonder what would happen to prices if these large scale buyers became large scale sellers.

What Could Be the Impact?

We must first realize that the number of homes being purchased by this type of investor, even if 100,000, pales in comparison to the 5 million homes projected to sell this year. Also, these investors are concentrating in the hardest hit areas where they can find the best investment opportunities. In an article last week, DSNews revealed:

“Institutional purchase activity has been especially notable in seven metros areas—Atlanta, Los Angeles, Las Vegas, Miami, New York, Phoenix, and Tampa.”

The article explained that the impact of this type of purchase would be stronger in these particular markets.

“In these markets, the impact of their exit will be more strongly felt.”

What About Going Forward?

With both prices and interest rates rising, many of these institutional investors may already be winding down their purchases. Bloomberg, in a recent article, quoted Hedge fund manager Bruce Rose, chief executive officer of Carrington Holding Co. LLC a fund that has managed over 25,000 rental homes:

“We just don’t see the returns there that are adequate to incentivize us to continue to invest. There’s a lot of — bluntly — stupid money that jumped into the trade without any infrastructure, without any real capabilities and a kind of build-it-as-you-go mentality that we think is somewhat irresponsible.”

The article also revealed that Och-Ziff Capital Management Group LLC , a $31 billion hedge fund managed by Daniel Och, has stopped putting money into rental homes.

The reason these firms are beginning to back away is that they are not seeing the returns they had hoped for. Bloomberg reports that Colony American Homes Inc. has found tenants for only 51% of the 9,931 homes it bought. American Residential Properties Inc. and Silver Bay Realty Trust Inc., two additional investors, both reported losses in the quarter ending March 31.

CONCLUSION

The impact of the institutional investor has yet to be fully determined. However, based on their limited purchasers as compared to all sales and their current uneasiness to continue with these purchases, the overall effect will probably be limited to a few markets that originally saw the greatest interest from these investors.

Housing Bubble: Is There a New One Forming?

The Keller Home Selling Team is constantly assessing the market on behalf of our client's and followers.  While the housing market has risen dramatically since the beginning of the year, this article written by a trusted nationwide blog source " Keeping Current Matters", says NO BUBBLE to worry about.  We believe this article to be true based on our local market knowledge and analysis. 

 While we can't predict exactly what the market will do, our jobs are to interpret the market as best we can.  We still believe it is a great time to buy and encourage anyone thinking about buying to do it now.  We believe in the end, you'll be glad you did.  If you have a house to sell, take advantage of the recent gains and call us for a free price opinion.

 As always, we're available to consult to you anytime you have questions.

----------------

The housing market is recovering so nicely that it has caused some to wonder whether a new housing bubble is forming. Today, we want to explain that the fear of a new pricing bubble in real estate is unwarranted.

Trulia revealed some great data on this point in a recent blog post. They explained that, even with the recent price increases, national home prices are still 7 percent undervalued. Trulia explained:

“Home prices nationally remain undervalued relative to fundamentals and much lower than in the last bubble. That’s why today’s price gains are actually still a rebound, not a bubble.”

Prices are below their fundamental value in the vast majority of the country (91 of the 100 largest metros). Even in the parts of the country that are now overvalued they come nowhere near the percentages we saw in 2006-2007. For example, let’s look at the two markets that are most overvalued today. In Orange County, California prices are currently overvalued by 9%. In 2006, prices in the region were overvalued by 71%! The second most overvalued market today is Austin, Texas at 5%. Texas real estate prices did not skyrocket as they did in many other parts of the country during the last boom. Austin prices were shown as being 12% overvalued at the time.

Again, prices are still undervalued in 91% of markets and, even in the markets that are overvalued, they are nowhere near the numbers of the 2006-2007 bubble.

Jed Kolko, Trulia’s Chief Economist, explained:

“So are we in bubble territory? No. Bubble-phobes can rest easy. Even with recent sharp home price increases, prices are still low relative to fundamentals and are far below bubble levels.”

Dr. David Stiff, chief economist for CoreLogic Case-Shiller agreed in a recently releasedreport on prices:

“Even if double-digit price appreciation were to continue in former bubble metro areas, there is no reason to believe that new home price bubbles are forming. That’s because single-family homes in these markets are still very affordable, even after last year’s large price gains.”

 

Three reasons there will NOT be another bubble

  Prices are determined by the ratio between supply and demand. Here are three reasons a bubble will be avoided.

1. Supply is beginning to increase. A lack of inventory is creating a market of multiple bids which has caused prices to rise. The National Association of Realtors (NAR), in their latest Existing Home Sales Report, revealed that the months’ supply of inventory has increased from 4.3 to 5.2 months since January.
2. Demand will decrease in certain demographics. For an example, investors have been a large part of the housing market over the last several years. As prices continue to rise, a certain percentage of these buyers will back off.
3. As mortgage rates increase, buyers will be able to afford less. The Mortgage Bankers Association, Fannie Mae and NAR have all projected an increase in mortgage rates over the next year. Buying power will decrease as borrowers can no longer afford the same price point as monthly payments will increase.

For these reasons, we believe the fear of a new housing bubble are currently unfounded.

Orange County Housing Report: Foreclosures & Short Sales are Vanishing

Distressed homes are quickly being replaced with good ol’ fashioned standard sales, homeowners with equity.

 Distressed Sales:  Foreclosures and short sales combined only account for 4% of the active listing inventory.

Foreclosures and short sales have a much smaller roll in today’s Orange County housing market.  In February 2012 they made up 47% of all closed sales, 29% were short sales and 18% were foreclosures.  Flash forward to today and they are only 15% of the market, 11% short sales and 4% foreclosures.

 The market has been in transition since the first quarter of last year.  There was a palpable shift away from distressed properties. Instead, standard sales, regular homeowners with equity in their homes, entered the mix.  They chipped away at the distressed inventories grip on the market, and properties began to appreciate. 

 Banks had been in control of the market until the shift.  They sold foreclosures, controlling the pace and price of these bank owned homes.  Short sales, where the homeowner owed more to the bank than their homes were worth, relied upon the approval of the bank to allow the sale to even take place.  They had to agree to take less than the full loan amount in order for sales to close.  Again, they controlled the pace and price of these homes.  That is no longer the case, as standard sales have made a very strong comeback.

 Do not get me wrong, there are still many homeowners who have not paid their mortgages in a very long time.  Loan modifications, short sales, and foreclosures will still play a role in the Orange County housing market for the next two to three years, but they will no longer define housing.  They have gone from the “best actor” to “best supporting actor” in the OC housing drama.

 The data illustrates the evolution in the market.  One year ago, distressed accounted for 19% of the active inventory, 206 foreclosures and 912 short sales.  Today they represent only 4% of the market, 50 foreclosures and 119 short sales.  That’s an 85% drop in a year. 

San Clemente Tourism

San Clemente Tourism news

A three-star business class hotel and retail center is planned for the Marblehead Coastal area. It will include a 600,000-square-foot shopping center with ocean views, a 130-room hotel and conference center and 313 homes near the San Diego (I-5) Freeway between Avenida Vista Hermosa and Avenida Pico.

The first phase of construction, which includes the hotel, is expected to be completed in early 2009.

The city is in talks with the developer of The Lab and The Camp shopping centers in Costa Mesa for a 65,000-square-foot restaurant and retail facility in the North Beach area.

A meandering beach trail running from North Beach to Calafia Beach opened in February 2007. A second phase of construction to extend a boardwalk beyond Mariposa Point, create a beach underpass and install pedestrian crossing signals is still in the works. In all, the city expects to invest well over $12 million in the trail.

Locals have walked on an unmaintained dirt trail along the same stretch for years, crossing railroad tracks illegally at random points. The new trail, made largely of decomposed granite, enhances safety and includes access for people with disabilities. 

About a year and a half ago, the city spent some $3 million refurbishing the downtown, adding landscaping and upscale restaurants, as a way to lure visitors.

   Information from OrangeCounty.com

Buy or Rent: Which Makes More Sense Financially?

by THE KCM CREW

Every potential home buyer has to stop for at least a moment and consider this question. Today, we want to look at one of the many financial reasons to buy instead of rent: the housing expense moving forward.  Rent vs. Buy Calculator!

According to the latest Existing Home Sales Report from the National Association of Realtors, the median sales price of a home in the U.S. is $184,300. The mortgage payment (principal & interest) on that purchase would be $661.89 assuming a 20% down payment and a 3.5% mortgage interest rate. Currently, the median asking rent in the U.S. according to the Census Bureau is $717 a month.

We realize that the two payments do not necessarily reflect the housing cost on a similar residence. However, that is not the point of the post. All we are saying is that the monthly housing expense on a median price home is $661.89 and the median rent is $717. We now want to discuss what will happen to these costs over time. Rent vs. Buy Calculator!

The principal and interest portion of the mortgage payment is locked in for the next 30 years. We know real estate taxes may be included in the payment and will increase to some degree over that time. We also acknowledge that the homeowner will have occasion to spend money on repairs. They also receive many tax advantages as a homeowner.

However, the actual monthly housing expense remains the same for the next 30 years.

Thanks to the KCM Crew!