New Listing Wine & Cheese Invitation

WINE & CHEESE! 

Join as for the later part of a beautiful afternoon and gorgeous sunset 

at 2304 Calle Las Palmas in San Clemente. 

www.2304CalleLasPalmas.com

From 2-5pm on Sunday, Nov 9th, we will be holding a Wine & Cheese event.

#homebuyer #justlisted #wine&cheese #openhouse #realestate #sanclemente #danapoint #orangecounty #beachhome #oceanview #newlisting #sunset #beach #rivieradistrict #kellerwilliams

22 Cameray Heights (High Definition) New Listing

NEW LISTING

22 Cameray in Cameray Pointe of Bear Brand in Laguna Niguel

Dan Keller: 949.244.0320

Property Info : 22 Cameray

This beautiful 3 bedroom, 3 bath home is uniquely situated on one of the largest lots in all Cameray Pointe. You could comfortably put in your own pool and spa should you choose to go that direction. Quiet, tranquil and private, this home has a lovely floor plan, is bright and airy and flows nicely from room to room. Situated across the street from Ocean Ranch shopping center, you can walk to shopping, theatres, restaurants and much more. Convenient access to major road arteries leading to multiple options to freeway and toll roads. Dana Point Harbor, Laguna Beach, Monarch Beach, ocean and beaches very close.

Listing brought to you by Dan Keller of The Keller Home Selling Team at Keller Williams OC Coastal Realty in Orange County. 

To Search Listings visit SearchOCHomesForSale.com

For a Home Valuation Visit: KellerTeam.NameYourSellingPrice.com

Video Created by Kevin Comisky

NEW LISTING: Laguna Niguel

NEW LISTING

22 Cameray in Cameray Pointe of Bear Brand in Laguna Niguel

This beautiful 3 bedroom, 3 bath home is uniquely situated on one of the largest lots in all Cameray Pointe. You could comfortably put in your own pool and spa should you choose to go that direction. Quiet, tranquil and private, this home has a lovely floor plan, is bright and airy and flows nicely from room to room. Situated across the street from Ocean Ranch shopping center, you can walk to shopping, theatres, restaurants and much more. Convenient access to major road arteries leading to multiple options to freeway and toll roads. Dana Point Harbor, Laguna Beach, Monarch Beach, ocean and beaches very close.

Listing brought to you by Dan Keller of The Keller Home Selling Team at Keller Williams OC Coastal Realty in Orange County. 

Dan Keller: 949.244.0320

To Search Listings visit SearchOCHomesForSale.com

For a Home Valuation Visit: KellerTeam.NameYourSellingPrice.com

New Listing Youtube Video for Flying Cloud Drive in Laguna Niguel

31572 Flying Cloud Drive, Laguna Niguel 

Video Tour on Youtube!

NEW LISTING! in Laguna Niguel

NEW LISTING! in Laguna Niguel

31572 Flying Cloud Drive

Now on the Market! Act Fast

Visit http://bit.ly/1hEiQsL

Listing Agent: Dan Keller

Call/Text: 949.899.5212

Market Share Totals

Proud to be a part of the Keller Williams OC Coastal Office!

Check out our office listings >> http://ow.ly/x52LD

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!

Mortgage Interest Deduction: By State

Improving the Mortgage Process for Buyers

“TD Bank recently announced the results of their inaugural Mortgage Service Index. The index was designed to identify best practices and trouble areas in home financing and act as a service indicator for lending institutions. Below are some of the key findings of the survey." - The KCM CREW

Positive Experiences

The index identified the percentage of respondents who had a positive (“excellent” or “very good”) experience in certain parts of the home buying experience:

·  64% had a positive experience during the home buying experience

·  55% finding a good Realtor

·  55% with the home appraisal/inspection process

·  53% finding the right lender

·  53% with the length of the entire home buying process

What Creates an Overall Positive Experience?

Certain key aspects of the relationship with the lender were important to those who said they had a very positive overall home buying experience. They rated their lender as “excellent” or “very good” in the following categories:

·  Responsive 74%

·  Accessible 76%

·  Honest and transparent 76%

·  Instilled confidence throughout the process 73%

·  Helped buyers understand the process 73%

·  Kept buyer informed during process 73%

·  Explained the mortgage and available options 72%

Other Key Findings:

1. On average, home buyers considered approximately two banks or lenders when applying for a mortgage

2. An equal number of those surveyed (43%) obtained information on the lending process from their bank and from their Realtor, demonstrating that Realtors are used as informative resources by consumers during the mortgage process

3. Only 34% of home buyers obtained a mortgage at their primary bank

Michael Copley, Executive Vice President, Retail Lending at TD Bank concluded:

“As the housing market continues to rebound, the growing number of buyers should be aware of what to look for in a mortgage partner and seek out a lender who will best guide them through the home financing process in order to create a positive home buying experience.”

 Thanks to "THE KCM CREW" for this fantastic information!

Talega - New Home For Sale

Beautiful Farralon Ridge  residence that has wow factor everywhere. It begins as you enter the cul de sac & pull into your expansive driveway. The craftsman style exterior has fresh paint & glistens as you approach this vibrant family home & peaceful neighborhood. This largest plan 3 model has 4 bedrooms & 3 baths and is situated on a 6,643 square foot parcel & is the perfect place to raise a family. The open concept floor plan offers a generous family room which opens to the kitchen & has a separate dining room. 

The master suite features a walkout balcony with views to die for, walk in closet, built ins & a spacious bathroom. Low HOA's & Mello Roos fees make this Talega neighborhood a real value. Your low maintenance hardscaped back yard is full of all the tools to entertain in a casual, elegant, fashion. Built in bbq and tropical setting with water feature & koi pond. Indoor and outdoor living at it's finest. You overlook a true natural wonder with sweeping mountain views & vast expanses of open space as far as the eye takes you. Steps from the Christianitos Regional Trail connecting you to 19 miles of Talega's hiking trails throughout this master planned area. Talega offers many amenities. 4 pools, sport & sand volleyball courts, tot lots and more.