Orange County Housing Inventory is Creeping up – Fullerton Housing Too!

The push to get everyone in escrow by April 30^th to qualify for the federal tax credit has ended and it seems the mad rush is over.  So what’s been happening since?  People must want to know because everyone has been asking me!

Inventory is creeping up, that’s what’s happening!  Even though our interest rates are at historic lows, we are still seeing a little less buyer activity. The serious buyers are still out there but they expect a lot for their money.

If you’re a potential seller, don’t worry! Homes are still selling!  Buyers are savvy and though they aren’t receiving the federal tax incentive, the serious ones are out!  There are plenty of ways to ensure your home sells for the highest possible price.  If you would like any tips or hints, I am happy to help!

Check out what the Fullerton housing inventory has been doing for the past year.

Fullerton Inventory is Creeping Up

Home Owners! Watch Out for this Direct Mail SCAM!

If you are a home owner, you might have received a pretty official looking letter in the mail. It could have come from the “Recording Compliance Board” or the “Title Compliance Office”; I have seen a couple different versions.  I even received one in the mail!

It might ask you to send a processing fee anywhere from $140.00 to $160.00 to reconvey your deed or to order a copy of your grant deed.

Sure, it looks legit and official but don’t take the bait!  All they are offering to do is send you a copy of something that you can get for FREE!  Any of these documents are a matter of public record. Any Realtor® can obtain them for you.

For copies of your grant deed or any other recorded document, please contact me!  I would be happy to get that for you….FREE OF CHARGE of course!

See my Real Estate Reality Check about the real estate scam at www.fullertonstories.com.

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Cristal Drake - Prudential California Realty

Your Real Estate Resource!

Realtor®, CDPE, ID# 01272061

714-423-7525  

cristaldrake@gmail.com 

Cristal Drakeis a Fullerton Resident and Realtor® specializing in North Orange County foreclosure sales, equity sales and short sales. All information in her blog is believed to be accurate but is not guaranteed. Copyright 2009 all rights reserved.

Remodeled Fullerton Charmer Near Downtown! Open House – Sat., April 3rd, 1:00 to 4:00

1200 W. Amerige – Fullerton listed for $369,000

2 bed

1 bath

940 sq ft plus an additional bonus room

2 car garage with a permitted workshop/studio

Regular Sale! No waiting for the Bank! This lovely home located on highly sought after street in Fullerton has been totally updated! This move in condition home features: An expanded and remodeled kitchen with granite counters,  built in oven and microwave, new cabinets and flooring. This home also features new paint and carpet throughout, an updated bathroom and newly landscaped back yard and two patio areas. It feels much larger than it is and has an added den and a workshop/studio built onto the garage! You wont be disappointed – just move on in!

Fullerton Real Estate – No Bobby, The Appraiser is NOT the Devil…..

When I took a listing on in the highly sought after Downtown Fullerton area, I knew I had my work cut out for me. This lovely home on Jacaranda showed wonderfully and though we listed it right at Christmas time when most buyers typically stop shopping. We were able to get it sold right away with multiple offers.

The work wasn’t so much in the listing, but in getting the Appraiser to see the value too! I mean I had just sold a home for the highest price in quite some time in the neighborhood and now I had to make sure the apprasier agreed! 

The dreaded words….Appraisal!  I have heard appraisers referred to as “deal killers” for brining the value in too low.  Since the fall of the real estate market, it is tougher than ever for them! 

This is not the appraiser!

Sure, we listed on the high side.  I was confident we could get what we were asking for.  At our open house, the residents of this lovely Downtown Fullerton neighborhood all came by and echoed the same sentiment, “We hope you can get the value, it will be so good for the neighborhood”.   I must admit, I got nervous…for about a minute.

Lucky for me, I worked for a major lender years ago and had extensive appraisal training. I would work closely with what we called the Appraisal Review Department and learned exactly what they were looking for and how they wanted the value justified.  Trust me, I did not forget.

When the appraiser called about appraising the home, I made sure I made it as easy as possible for him.  Often times, Realtors just show up and unlock the door.  I guess that is one way to do it but by making sure they understand the upgrades, the neighborhood, how you came to the value, the offers….etc….you would be surprised at how much they appreciate the help and in UNDERSTANDING WHY THE VALUE IS THERE!

Appraisers have a tough job right now.  They have much stricter guidelines now and are held accountable for every little thing. Their job is stressful to say the least!   This was just reiterated by an appraiser that called me (because the home on Jacaranda has now closed and is showing as a comparable sale).  She was trying to justify the price on something else in the neighborhood and she was floored when she saw how much my home sold for.  We talked a long time about how hard it is for them right now.  Since I know every single home in the neighborhood, and what they all sold for, I was able to help her and explain how we were able to justify the sold price on our Jacaranda home.

Appraisers are not trying to be bad guys or deal killers. Sometimes they just need a little help in justifying the value. The least we can do is try to help! It is good for them…..and our sellers!

If you are interested in hearing more about values and appraisals or anything else relating to Fullerton real estate or real estate in North Orange County, please contact me.

Did You Know?….A Few Tidbits about the Fullerton Real Estate Market

Fullerton

Did You Know?….A Few Tidbits about the Fullerton Real Estate Market.

Did You Know?

In February, 2009 there was a total of 316 closed sales in Anaheim, Brea, Fullerton, Placentia and Yorba Linda?
February 2008 only had 160 closed sales in the same area?
Fullerton had 67 closed sales in February 2009 – Avg. Sales price $411,862?
Fullerton had 48 closed sales in February 2008 – Avg. Sales price $579,268?
Fullerton currently has 404 homes for sale – 156 Short Sales and 51 Bank Owned?
Fullerton had 10 Short Sale Listings close in February 2009?
Fullerton had 33 bank owned listings close in February 2009?
First time home buyers can qualify for an $8,000 first-time homebuyer tax credit?
Majority of info provided by the So Cal Multiple listing Service

Though prices in Fullerton are down, starter homes are selling! We are seeing muliple offers so you need to be quick, creative and tenacious to be in the running for your first home…especially if you are dealing with a bank!

On the national average, sales of existing homes declined in January. Inventories fell to a two-year low. According to the National Association of Realtors (NAR), buyers are waiting to see how details of the economic stimulus package will affect them. NAR’s Chief economist Lawrence Yun reports, “The drop in total inventory is an encouraging sign because the number of homes on the market has declined steadily since peaking in July 2008, and inventory is at the lowest level in two years.”

As you and I talk about buying or selling, it is important to understand that location has never been more pertinent to pricing. There are buyers ready to move and popular locations (like Fullerton) ar at the top of their list! If you have questions or concerns, know that I am here to serve your needs.

Are You Sitting On The Fence? Fullerton Buyers, Sit No Longer!

Interest rates are down!  What does this mean to you?  It means that you can buy more house or it could be that you are finally able to get off the fence and become a homeowner!

Home prices are down too!  Many first time home buyers that that thought they “missed the boat” a few years back are finding that they are back in the game!  Some thought the dream of home ownership would not become a reality.  It is becoming real now.

Not sure where to start?  Start at the beginning….and here you are!  If you are reading this article then you are in the right place.  You need a Realtor that can explain the process step by step and make sure you are taken care of an protected every step of the way; someone who understands that taking the step towards home ownership can be scary and overwhelming.

If you think you might be ready to see what is involved with becoming a home owner, give me a call or shoot me an email. We can just have a conversation and see if you are ready to take the next step.  No pressure. I am sure you have lots of questions and my job is to get you the answers.

When you talk to a Realtor (R) that understands the market and has your best interest at heart, you would be surprised about some of the options available to you:

• $7500 first time home buyer tax credit
• Possible seller assistance with costs
• Holidays are a great time to shop – less competition from other buyers

Check out some of my other articles to get to know me little better and then give me a call…I would appreciate the opportunity to be of service and to earn your business.  

My Buyer Became My Friend

Are You Trying to Time the Market?