Real Estate Information

In May of this year Dana Point had 45 homes in escrow, 297 active listings, and 33 homes closing in escrow at the end of the month. Laguna Niguel was having a busier month with 123 homes closing in escrow, 447 active listings, and 63 homes closing escrow at the end of the month.

In June of this year San Juan Capistrano had 80 homes in escrow, 301 active listings, and34 homes closing in escrow at the end of the month. Aliso Viejo had 134 homes in escrow during June of this year, along with 269 active listings, and 62 homes closing in escrow at the end of the month.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search

This week Aliso Viejo has 147 homes in escrow, that is 17 more than it had last week and the highest in South Orange County. San Clemente follows in second with 111 homes in escrow, just 3 less than they had the previous week. San Clemente also takes the lead with the most active listings at 539. Laguna Niguel follows in second with 435 active listings this week, 14 more than it had last week. Laguna Beach trails in last with only 30 homes in escrow, but has 367 active listings. Dana Point has 47 homes in escrow and 299 active listings this week. At the end of June, Dana Point had 59 homes in escrow and 294 active listings. San Juan Capistrano follows in with 85 homes in escrow this week, 7 more than it had the previous week. San Juan has averaged around 308 active listings since April of this year. 

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search

This Wednesday, the House approved a sweeping plan to ease the country's most serious housing crisis since the Great Depression. How do they plan to do so?  By providing aid to homeowners facing foreclosure and a federal backstop for struggling mortgage giants Fannie Mae and Freddie Mac.

Despite President Bush's opposition to a provision to provide $4 billion to communities to buy and fix up vacant properties, the White House dropped its veto threat and signaled that Bush would infact sign the bill. Hopefully Senate's approval will come by the end of the week.

The measure seeks to stave off foreclosure for 400,000 or more homeowners in part by allowing them to refinance into lower-cost government-insured mortgages, provided lenders agree to take a loss.

It also includes a plan by Treasury Secretary Henry M. Paulson to bolster confidence in Fannie and Freddie by allowing the government to temporarily increase its lending to the federally chartered companies and to buy their stock.

Another provision seeks to stimulate the housing market with about $15 billion in tax breaks, including a tax credit of as much as $7,500 for first-time home-buyers. Of interest to California and other areas with high housing costs, it would permanently raise the cap on mortgages that Fannie Mae and Freddie Mac can buy or guarantee to $625,500.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search

In June, the economic downturn hit Orange County workers. On Friday, the state Employment Development Department reported the local unemployment rate jumped 5.2 percent, the highest in five years. Just a year ago, local unemployment was just 4 percent.

Unemployment hasn't been this high in Orange County since July 2003, and when it hit 5.1 percent, employers waited for a rebound from the last recession before hiring anymore help.

12,800 jobs have been cut since June 2007, which has caused the financial sector to suffer the most. Construction sectors have lost 16,100 jobs over the past 12 months because housing and commercial building has been slowed.

Though Orange County's unemployment rate has made a significant increase, it is still the fourth lowest in the state. Santa Barbara ties in at 5.2 percent with Marin County at 4.6 percent, the lowest unemployment rate in the state.

Statewide, the June unemployment rate, adjusted for seasonal variations, with 6.9 percent, up from 5.3 percent in June 2007. U.S. unemployment was 5.5. percent last month compared with 4.7 percent a year ago.

Laguna Niguel's recreation department is hosting a summer sports program. With activities such as dodge ball, Frisbee football, mini-basketball and board games, you will have plenty of options to choose from. The summer sports program takes place through August 15 at Chapparosa Park in Laguna Niguel.

Personnel at the recreation department will be handing out various sports equipment from 11 a.m. to 1 p.m. for free play. All of the organized sports activities and games will take place from 2 p.m. to 4 p.m. This is a great opportunity to get outside and have some fun in the summer sun.

Chapparosa Park is located  at 25191 Chapparosa Park Road, Laguna Niguel, 92677.

For more information regarding the recreation departments summer sports program call (949)-454-7323.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search

The Beach Boys are back in action!

This Friday, July 25, The Beach Boys will be performing at the Coto De Caza Raquet and Golf Club. The golf club gates will open at 6 p.m. for a preconcert party. The Beach Boys will hit the stage at 8 p.m. on the center court. This is a perfomance all you "California Girls" and boys don't want to miss!

The Coto De Caza Golf and Raquet Club is located at 25291 Vista del Verde, Coto De Caza.

For tickets and more information call (949)-858-4100.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search

The federal government has stepped in and put its foot down. Lenders are no longer allowed to grant subprime mortgage unless there is proof you are able to repay it! This includes those jumbo mortgages too.

For a while, verifying a borrower's ability to pay was out of fashion. Now, the Federal Reserve has banned stated-income subprime loans after they fell out of favor. The Federal Reserve’s rules divide mortgages into two categories: '' higher priced'' loans and everything else.

People who have had trouble paying their bills on time are typically put into the "higher-priced" category. These are known as the subprime mortgages. Most of the rules apply only to this "higher-priced" category.  Dealing with this category has inspired feds to design a net to capture subprime loans, also affecting jumbo mortgages.

Under the new rules, you can't get a higher-coast loan unless the lender decides you can afford the highest scheduled payments during the first seven years of the loan. This means if you get an adjustable rate mortgage, you have to be able to afford the payments at the highest rate.

Prepayment penalties for high-coast loans are banned if the rate can change in the first four years. Prepayment penalties can't last more than two years and the higher coast loans have to have escrow accounts for property taxes and insurance.

Luckily for lenders they will have plenty of time to adapt to the new changes. The rules don't go into affect until October 1, 2009.

On July 19 the Mission Viejo Football team is planning a 5k run/walk to support their program, "On a Mission to Find a Cure." The walk will take place at Great Parks Neighborhood, formerly the El Toro Marine Corps Air Station at 8 a.m.

The Mission Viejo football team has recently adopted the Pediatric Cancer Research Foundation as their charity of involvement and will focus on raising awareness of the need for research. This isn't their only attempt to raise awareness though; the entire football team attended a PCRF spirit walk on May 4.

The run/walk is open to anyone and everyone! Registration begins at 6:30 a.m. and is $28 for adults and $13 for children. The walk/run will start at 8 a.m. and conclude around 11 a.m. For more information you can visit www.missionfootball.com or contact Sally Mascarenas at (714) 392-0271.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search

Lenders have reduced home equity lines of credit in areas of declining home prices, such as Orange County. Lenders are trying to reduce their exposure to potential loan losses. The percentage of those lines of credit that are more than 30 days past due rose to 1.10 percent during the first quarter, the highest since 1997, the American Bankers Association reports Experts fear the line of credit reductions could hurt the economy and housing market, saying people will spend less if they have less access to credit, which could hurt an economy dependent on consumer spending.

And some experts say people who need the lines of credit to remain financially stable will now default on their primary home loans, adding to already record foreclosures in Orange County. Orange County home prices have plummeted from 2006 highs.

DataQuick reported the median selling price for local residences was $485,000 in May, the first time a month's pricing has been less than half-million dollars since March 2004. Widespread home equity line of credit reductions have caught the attention of federal regulators.

On June 26, The Federal Deposit Insurance Corporation issued a statement warning lenders that under the Truth in Lending Act, credit reductions must be tied to significant property value declines or a borrower's likely inability to pay because of a material change in his financial situation.

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

Listen to Zen's Laguna Niguel Real Estate Podcast available 24/7.

SEARCH ORANGE COUNTY'S BEST HOMES at Orange County MLS Home Search