Orange County California Real Estate Blog: July 2009

Tips to selling a home in Aliso Viejo

Here are 3 very big tips to selling a home in Aliso Viejo:

1. First Impressions

Remember back to when you first purchased your home...What was it that attracted you to your house when you bought it?  What most excited you about its features? Now that you're selling your home, you'll need to look at it as if you were buying it all over again.

A spruced up house makes a great first impression on potential buyers.  A clean and attractive property grabs their attention and makes them excited about finding a house that looks and feels well-cared for.  Because buyers know they'll encounter fewer problems if they buy it, your house becomes more appealing and stands out from the competition.  So if you prepare your house correctly, you'll save time selling it when it's on the market.

With simple improvements throughout your house, you can grab the attention of potential buyers and help them see why your house is right for them.

2. Listing Price

Selecting a proper listing price may be the most important decision when selling your home in Aliso Viejo. If you list your house too high, you will waste time and statistics show that you will end up with a lower sales price then if you priced it correctly to begin with. The reason for this is because you will eventually have to lower the price. Once you have lowered your price, you appear more desperate to sell and it is likely you will receive more "low ball" offers.

Some real estate agents will tell you that they can sell your house for a higher price. This is a deceptive practice known as "buying a listing". They try to get your business by promising a high sales price. However, their intention is to later talk you into lowering the asking price once they are your agent. Don't necessarily select a real estate agent that promises the highest price. Pick an agent that appears honest and ethical. Odds are he or she will sell your house for as much or more then anyone else.

3. Real Estate Agent

Selecting a good agent is much easier said then done. In the real estate industry, 20% of the agents are closing 80% of the property. This means that 80% of the agents have little experience buying or selling homes. There are many agents with good intentions, but are not capable of providing exceptional service to their clients. The best way to find out who the great agents in your area are is to ask around. Ask friends,neighbors, and co workers who have bought or sold a house in your area. Who did they use? Where they happy with the services they received?

I am quite bias when it comes to real estate agents in Aliso Viejo since I work for Oxford Realty. However, I encourage you to speak with one of our agents. They are experienced and ethical. They will never over promise and under deliver. I chose Oxford Realty because of its reputation in Aliso Viejo and the values  all of the agents uphold. Give me call and I will either help you or recommend some one who can.

Click here for Oxford Realty

I hope you found our tips for selling a home in Aliso Viejo valuable.

Aliso Viejo Community Activities

This summer there have been a plethora of Aliso Viejo Community Activities. The 4th of July celebration at Grand Park was top notch and the outdoor family movie night was a big hit.

The next Aliso viejo community activity that is planned is The Concert in the Park. The concert is July 26th from 6:00 pm - 7:30 pm at Grand Park (behind the town center).

This live concert features Chesterfield Blues.

Bring a blanket, snacks and the whole family to enjoy exceptional music in an exceptional atmosphere.

Foreclosures in Laguna Hills

Over the past few months, people have been asking about foreclosures in Laguna Hills. "How do I get my hands on a really good foreclosure deal in Laguna Hills?" 

The best way to get a great deal on a foreclosure is to know it is going to hit the market before everybody else. The way I recommend doing this is to begin with the short sale homes. A short sale is when the owner of a house owes more money on the house then it is worth and decides they are either unwilling or unable to make the payments. At this point, the homeowner has two options: foreclose on the house or try to arrange a short sale. The short sale is a negotiation with the bank to sell the house for less than it is worth and the bank will "eat the loss." This is far more appealing to the home owner since a short sale only affects your credit for two years where as a foreclosure will affect your credit for 7 years. 

Foreclosures in Laguna Hills can be great deals

The homeowner decides to pursue the short sale and has the house listed by a real estate agent (often for an under market price). The house is entered on the MLS and buyers begin to view the house. Once an offer is made for the house, it is submitted to the bank for approval. This approval can be a VERY long process. Often, the bank will not approve the short sale for the offered price (even if it is full asking price). You see, the bank does not approve how much the house is listed for, or necessarily even know how much it is worth. If they don't like the price, they will reject the short sale and foreclose on the home. 

This is your opportunity! Find a good real estate agent who understands the local market and specializes in foreclosures in Aliso Viejo (or whatever area you are looking in) and start viewing short sale properties. When you find one that you really like for the right price, put in an offer. If the bank accepts it...great! If not, watch the MLS very closely. If you have a great agent, he or she should be able to find out which real estate company is going to list the property before it hits the market. Have your agent call the listing office and find out exactly when it will be listed. 

It is not uncommon for the new price of the home to be less than the price of the short sale. As odd as this sounds, there is a logical reason for this. Once the bank forecloses on a property, they hire an appraiser to assess the value of the house. One of the first thing the appraiser will do is look up the previous list price of the home when it was being short sold. They will see the price and often assume that since it was listed for that price and did not sell... it must be worth less. What the appraiser may not know is that there were multiple offers on the home, but the bank did not approve them. So,  the appraiser recommends that they list the price lower. The bank will almost always follow the appraisers recommendation.

The minute, and I mean minute the property hits the market, submit your offer. The listing agent is required to submit offers as they come in. If you can get your offer in quick enough, the bank may accept your offer before anyone else has a chance to submit one. The bank wants the property off their books ASAP and will make a decision on offers very fast.

This is exactly how my wife and I got our foreclosure in Laguna Hills. It takes a few months, but it is certainly worth the wait since you can get amazing deals!

To contact a real estate agent who specializes in foreclosures in Laguna Hills click here

Aliso Viejo Realtor

If you are in search of the top Aliso Viejo Realtor, you have found them. Oxford Realtyis Aliso Viejo's premier real estate brokerage. We offer a free interactive MLS property search.

We are also currently offering a $500 rebate for buyers and sellers. Our Aliso Viejo Realtors pledge to connect buyers and sellers quickly and pleasantly. Click here to enter our website and experience what Oxford can do for you.

Selling your house in Aliso Viejo

Are you thinking of selling your house in Aliso Viejo? If so, here are 3 important tips:

1. Make sure you know how much your home is worth. The best way to do this is to get a really good Realtor. Ask them to do a market analysis and find the real value of your home. Don't list your house too low just because you want a fast sale. A properly priced home will sell just as fast and put more money in your pocket! Don't list your house too high just to see if you can get an interested buyer. This is a big mistake. Data shows that it will take three times as long to sell your house, even after the price reductions.

2. When selling your house in Aliso Viejo, make sure your house is available to be viewed. I don't understand why people would list their house and then rarely let prospective buyers in. When an agent calls to schedule a showing, do your best to let them in. 

3. Get a great real estate agent. This is easier said then done. Ask your friends or coworkers if they can recommend someone. The quality of your agent will make or break the entire process... choose wisely. 

These are just a few tips when selling your house in Aliso Viejo

Click here for Oxford Realty's  top real estate agents

Foreclosures in Aliso Viejo

Over the past few months, people have been asking about foreclosures in Aliso Viejo. "How do I get my hands on a really good foreclosure deal in Aliso Viejo?" 

The best way to get a great deal on a foreclosure is to know it is going to hit the market before everybody else. The way I recommend doing this is to begin with the short sale homes. A short sale is when the owner of a house owes more money on the house then it is worth and decides they are either unwilling or unable to make the payments. At this point, the homeowner has two options: foreclose on the house or try to arrange a short sale. The short sale is a negotiation with the bank to sell the house for less than it is worth and the bank will "eat the loss." This is far more appealing to the home owner since a short sale only affects your credit for two years where as a foreclosure will affect your credit for 7 years. 

Foreclosures in Aliso Viejo can be great deals

The homeowner decides to pursue the short sale and has the house listed by a real estate agent (often for an under market price). The house is entered on the MLS and buyers begin to view the house. Once an offer is made for the house, it is submitted to the bank for approval. This approval can be a VERY long process. Often, the bank will not approve the short sale for the offered price (even if it is full asking price). You see, the bank does not approve how much the house is listed for, or necessarily even know how much it is worth. If they don't like the price, they will reject the short sale and foreclose on the home. 

This is your opportunity! Find a good real estate agent who understands the local market and specializes in foreclosures in Aliso Viejo (or whatever area you are looking in) and start viewing short sale properties. When you find one that you really like for the right price, put in an offer. If the bank accepts it...great! If not, watch the MLS very closely. If you have a great agent, he or she should be able to find out which real estate company is going to list the property before it hits the market. Have your agent call the listing office and find out exactly when it will be listed. 

It is not uncommon for the new price of the home to be less than the price of the short sale. As odd as this sounds, there is a logical reason for this. Once the bank forecloses on a property, they hire an appraiser to assess the value of the house. One of the first thing the appraiser will do is look up the previous list price of the home when it was being short sold. They will see the price and often assume that since it was listed for that price and did not sell... it must be worth less. What the appraiser may not know is that there were multiple offers on the home, but the bank did not approve them. So,  the appraiser recommends that they list the price lower. The bank will almost always follow the appraisers recommendation.

The minute, and I mean minute the property hits the market, submit your offer. The listing agent is required to submit offers as they come in. If you can get your offer in quick enough, the bank may accept your offer before anyone else has a chance to submit one. The bank wants the property off their books ASAP and will make a decision on offers very fast.

This is exactly how my wife and I got our foreclosure in Aliso Viejo. It takes a few months, but it is certainly worth the wait since you can get amazing deals!

To contact a real estate agent who specializes in foreclosures in Aliso Viejo click here

Aliso Viejo Family Activities

The Community of Aliso Viejo offers a plethora of family activities in the summer. This Friday, July 24th, Alsio Viejo will host a "movie night in the park". From 7:30 - 10:00 pm the city of Aliso Viejo will screen Madagascar: Escape 2 Africa at Grand Park. Bring a blanket and some snacks (if you forget, snacks will be sold), sit back in a lawn chair and enjoy the movie with your whole family. This is just one of many family activities Alsio Viejo offers. To view a complete list of summer events visit the City of Aliso Viejo website.

Oxford Realty

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California Summit Aliso Viejo

California Summit community has one of the best locations in all of Aliso Viejo. If real estate is all about location, location, location, then this community gets an A+. On one side of the homes is a breathtaking view of Aliso Viejo city lights, the town center and the federal building. On the other side is Aliso Canyon. If you are not familiar with this area, I strongly suggest you take a visit. Tucked in the middle of the bustling Orange County is the canyon nature preserve that will make you feel like you are in the wilderness.  

Soka University of America is directly across the street from California Summit. This small university has some of the most beautiful architecture around. Family walks on campus are peaceful and relaxing. The kids enjoy looking for rabbits and squirrels and an occasional deer can be spotted in the early mornings. California Summit is within walking distance of the best coffee house in Aliso Viejo. Neighborhood Cup will serve you a fantastic iced mocha and a warm smile for a fair price.

Soka University of America

California Summit residents in Aliso Viejo have a tremendous pride of ownership. The homes are well maintained and manicured with virtually no exception. If you are looking for a family friendly neighborhood, you should visit California Summit in Aliso Viejo.

Click here to contact Oxford realty to answer any questions

Aliso Viejo Real Estate Market

Ok, let's get serious. What is really happening in the Aliso Viejo real estate market? The newspapers and television tell us that we are still in a housing slump. They say that prices are still dropping and it's not the time to buy. But how dated is their data? The OC Register often reports information on the previous quarter sales that is 3 months old. What is really happening in the Aliso Viejo real estate market? Well.... I'll tell you. It seems our memories have failed us. The frenzied buying of homes in the $200,000 to $400,000 range is reminiscent of 2005. They are are flying off the market! Why? Are they under valued?

No... the answer is absolutely no! The truth is, the Aliso Viejo real estate market is heating up because Aliso Viejo is an amazing place to live with a limited amount of space. With incentives like the $8,000 first time home buyer tax credit, lower interest rates, and low down payment financing (FHA 3.5% down) young people are finally able to afford a home. This influx of buyers is causing big competition in the lower price range.

If you are in the market for a home in this price range, you had better be ready for a bidding war. I have a handful of clients looking for properties to no avail. We have put multiple offers on properties and are consistently out bid by "all cash"buyers. If you are looking for a home and you don't have all cash, you need to bid aggressively. Don't be fooled by the propaganda of our media telling us that the housing market is stagnant. Get a good Realtor and make sure you have a strategy. This is not a toaster you are buying... it's a home. This is the place you have to live for a very long time.

Don't have unrealistic expectations! 

Click here for Oxford Realty home page