Orange County California Real Estate Blog: California: Aliso Viejo

Investment properties in Aliso Viejo, CA

In today's market, there are quite a few lucrative investment properties in Aliso Viejo. Today I would like to Feature the "Coronado" complex off Aliso Creek rd. This is a complex of mostly 2 and 3 bedroom condos that are selling from the high $200,000's to the low $300,000's. These are tremendous deals since many of the units are currently renting for over $2,000 per month. Many of these properties are capable of positive cash flow with a 20% down payment. It has been quite a while since positive cash flow investments were available in Orange County. To get more information about investment properties in Aliso viejo, CA visit our website or contact mike at info@oxfordrealtyoc.com

Relocating to Aliso Viejo CA                                                  

Thinking of relocating to Aliso viejo CA? Here is some information that will help you learn more about our community:

Alsio Viejo was voted "Best New Home Community in Orange County" by the Orange County Register Reader Survey

Aliso Viejo officially incorporated as a city in 2001. Prior to that, it was an unincorporated community since the early 1990's. Aliso Viejo has an estimated population of 41,424. Aliso Viejo is located in the San Joquin Hills and backs up to Aliso Canyon and Wood Canyon Regional Parks. It is bordered by the cities of Laguna Niguel on the South, Laguna Hills on the East, Laguna Beach on the West and Laguna woods on the North. 51% of the community is dedicated to parks, recreation, schools, open space, and community facilities.

The temperature of Aliso Viejo is often in the 90's in the summer and goes as low as the 50's in the winter. According to the 2000 census, there are over 16,000 household in Aliso Viejo. The racial make up of Aliso Viejo is approximately 77% white, 11% Hispanic or Latino, 10% Asian, 2% Black or African American. 37% of the households have kids under the age of 18 and 52% are married couples living together.

The median annual household income in Aliso Viejo is just over $92,000.

Aliso Viejo is home to numerous company headquarters including:Valeant pharmaceuticals,Quest Software, Kettle One, and BUY.COM.

The city is served by Capistrano Unified School District which includes:

Elementary

Wood Canyon

Canyon Vista

Don Juan Avila

Oak Grove

Middle School

Aliso Viejo

Don Juan Avila

High School

Aliso Niguel

Aliso Viejo is also home to Soka University

Contact an Aliso Viejo Realtor for current home inventory

Here are some more helpful links if you are relocating to Aliso Viejo CA

City of Aliso Viejo

Capistrano Unified School District

Oxford Realty

Short selling a house in Aliso Viejo

You owe more money on your home then it is worth, your income is not what it used to be, and debt is mounting. Is it time to short sell your house in Aliso Viejo?

What is a short sale?

A short sale is a sale of real estate in which the proceeds from the sale are less than the balance owed on the mortgage.

A short sale is when a lender reduces the loan balance on a piece of real estate because of financial hardship on the part of the borrower. The home owner sells the property for less than the outstanding amount of money still owed on the the loan.  The proceeds of the sale are given to the lender, sometimes (but not always) in full satisfaction of the debt.

Short sale Vs. Foreclosure

There are many myths floating around when it comes to the difference between a short sale and a foreclosure. The first thing you must be aware of is that a short sale will normally affect your credit the same as a foreclosure. On average, your credit score will drop 200-300 points. This would mean that a 720 fico could drop to a 420. The primary difference between a short sale and foreclose on credit is the amount of time they will affect your score. A foreclosure can reduce your score for up to 7 years while a short sale can stop its adverse effects after only 24 months.

Tax issues

The IRS considers any debt forgiveness as taxable income. This means that if you short sell your house for $100,000 less then you owe, the IRS can tax you on the $100,000. However, recent legislation prohibits this as long as the debt was incurred between 2007 and 2010. Please contact a tax attorney before you proceed with a short sale.

Aliso Viejo short sales

Currently, the majority of homes for sale in Aliso Viejo are short sales. More and more people are opting for a short sale in today's market. With the right real estate agent, a short sale can be a fairly painless experience and can be handled in a timely manner. This increase in short selling is causing new legislation to be brought forward to assist people who have been affected. If you are considering a short sale in Aliso Viejo, make sure you contact:

A good  attorney

A good real estate agent

Oxford Realty

Aliso Viejo Aquatic Center

Today I had my first visit to the Aliso Viejo Aquatic Center. My wife, son Dylan (2 years old), daughter Savannah ( 4 months old) and I packed up our swim gear and a few snacks and drove over to the Aliso Viejo Aquatic Center. Admission is only $5 for adults and $3 for kids if you are an Aliso Viejo Resident. There are four different swimming areas. The olympic style lap pool, a kids wading pool, a large play pool and a jacuzzi. In addition, there is a ground fountain and many grassy areas for your kids to play. There is an amazing view of the mountains and golf course from almost everywhere on the grounds.

I must say, we had a great time! Dylan is just starting swim lessons and the Aliso Viejo Aquatic Center is a great place to keep him excited about the water. He ran through the fountains and splashed in the wading pool. We stayed until closing time (5 pm) because we were having so much fun. 

The only problem with the Aliso Viejo Aquatic Center is that it is difficult to find the correct address. We drove to 3 difference addresses that were not correct that we found on the Internet. The actual address is 25002 Golf Course Dr. Aliso Viejo, CA 92656.

Click here for Oxford Realty

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.

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