Woodbridge Irvine Happenings and Real Estate info

Inventory down and prices going up in Orange County

2012-01-25T15:44:00.000-08:00

Inventory of homes in Orange County did it's seasonal dip the past few months, and if past years' trends are anything to go by, more & more homes will be hitting the market from now until the summer.

This chart shows inventory of Single Family homes over $500K in the county, since June last year.

Nice to see that the prices have been rising the past few months! Look at this chart, also of Single Family homes over $500K in the the good ol' OC!

From $480 per square foot in September, average prices rose, rose, and rose again to $554 in December. Does this mean that a 2,000 square foot home would have fetched $960,000 in September, and $1,108,000 three months later?

Well, numbers don't lie, or do they?

Prices vary from city to city, and even from tract to tract.

Interested in seeing how much your home might sell for, or looking for some tips on timing? Let's talk!

Cost of borrowing still well below historic norms

2011-12-30T12:07:00.000-08:00

Mortgage rates surveyed by Freddie Mac bounced back from historic lows this week, but aren't expected to soar in the New Year.

This is an article I saw Inman News yesterday & wanted to share it with you :)

Rates on 30-year fixed-rate mortgages averaged 3.95 percent with an average 0.7 point for the week ending Dec. 29. That's up from 3.91 percent last week -- an all-time low in records dating to 1971 -- but still well below the 2011 high of 5.05 percent seen in February.

The 30-year fixed-rate loan has averaged at or below 4 percent for the past nine consecutive weeks, Freddie Mac noted in releasing the results of its Primary Mortgage Market Survey.

Rates for 15-year fixed-rate mortgages averaged 3.24 percent with an average 0.8 point. That's up from 3.21 percent last week, an all-time low in records dating to 1991, but down from the 2011 high of 4.29 percent registered in February.

For 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.88 percent with an average 0.6 point. That's up from 2.85 percent last week, an all-time low in records dating to 2005, but down more than 1 percentage point from the 2011 high of 3.92 percent seen in February.

Rates on 1-year Treasury-indexed ARM loans averaged 2.78 percent with an average 0.6 point. That's up from 2.77 percent last week, an all-time low in records dating to 1984, but down from a 2011 high of 3.4 percent in February.

Freddie Mac's rate survey is based on loans offered to borrowers with good credit scores who will be making down payments of at least 20 percent. Borrowers with damaged credit or making smaller down payments can expect to pay higher rates.

Mortgage rates are largely determined by demand for mortgage-backed securities (MBS),
bonds that fund the vast majority of home loans.

The Federal Reserve helped push mortgage rates down in 2009 and 2010 by buying $1.25 trillion in MBS. Since then, the European debt crisis has helped keep mortgage rates down, as investors seek the relative safety of government-backed mortgage bonds, whose payments are guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

In a Dec. 20 forecast, economists at Fannie Mae project that rates for fixed-rate mortgages will average 4.0 percent in 2012 and 4.3 percent in 2013, down from 4.5 percent this year and 5 percent in 2009.

The Mortgage Bankers Association predicts rates on 30-year fixed-rate loans will average 4.2 percent in 2012 before rising to 4.7 percent in 2013. The National Association of Realtors projects rates on 30-year fixed-rate loans will hold steady at 4.5 percent in 2012.

What SOLD in November, and what's FOR SALE right now, in Woodbridge, Irvine

2011-12-04T14:40:00.000-08:00

The prices of Woodbridge homes for sale right now, range from $169,900 for a 1 bedroom attached REO condo on Echo Run, to
$1,050,000 for a 4 bedroom 2,900 square foot SFR on Whistling Isle in the Summerfield tract, listed by my office!

Presently there are only 84 Woodbridge homes currently listed for sale!

Only two homes are offered for sale in "The Landings", and these are 8 Rainstar in Landing I, and 30 Foxboro in Landing II.

Usually when one is offered for sale, it is snapped up pretty fast!

30 Foxboro is a model "C" 4 bedroom house, with over 1,000 square feet of travertine, new granite counters, new maple kitchen Cabinets, new appliances, built-in fridge, new toilets and tankless water heater.

It has a 3 car garage. Nice!

Landings homes 11 Woodflower & 25 Whispering Wind are in escrow.

16 Woodbridge home sold in November 2011, at prices from $167,500, (a 1 bedroom attached REO in the Park Vista tract), to $910,000 for 4 bedroom standard sale Single Family home on Buckthorn in the Gables.

The PRICE Is the Same, But the COST Is Less

2011-11-16T13:30:00.000-08:00

Let's put things into perspective. When you are comparing today's real estate market to the environment in 2004 you can make dramatic headlines. When you really get down to the purchase price and making that decision on whether it's a good time to buy our friends at Keeping Current Matters have laid it out well...The PRICE Is the Same, But the COST Is Less.

There is more and more research coming out showing that it makes great financial sense to purchase a home today . Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. Now we want to look at the COST of a home today compared to pre-peak prices.

According to the most recent S&P Case Shiller price index, residential real estate values have returned to 2003 1Q PRICEs. That, in itself, says something. However, when you factor in mortgage rates, the case for buying a home today becomes even more compelling.

In 2003, 30 year mortgage rates stood at 5.88%. Today, they are 4%. How does that impact the actual COST of a home? On a home purchased for $250,000, here is the difference in monthly cost:

That means you save $285.30 a month, $3,423.60 a year and $102,708 over the life of a 30 year mortgage! You buy the home for the same PRICE but the COST is over $100,000 less.

Bottom Line
This is why so many financial advisors are saying that this may be one of the greatest times in history to purchase a home.

What are you doing on Friday & Saturday? Swing by the Irvine Holiday Faire!

2011-10-30T13:59:00.000-07:00

Swing by the 29th annual Holiday Faire, hosted by the Irvine Fine Arts Center.
It's on Friday, November 4, from 5-9 p.m, and also on Saturday, November 5, from 9 a.m.-4 p.m.

Over 150 talented artisans will showcase a variety of unique holiday arts and decorations. Yes, they're for sale!

Join us for family fun, and see hand-blown glass, ceramics, jewelry, folk crafts, porcelain, dolls, clothing, holiday decorations and much more!

The Faire also features live music and a selection of food and dessert, including the ever-popular handmade ceramic collector bowls filled with piping hot chili or baked potatoes with all the fixings. Hmmmm, yummy.

The Irvine Fine Arts Center is located at 14321 Yale Avenue (in Heritage Park).

Admission is a whopping $2 (OMG), and kids aged 12 and under are free.
Parking is free.

Proceeds from the Faire are put back into the arts community.

Are you over 50? See you tomorrow at S.H.A.R.E.

2011-10-21T13:23:00.000-07:00

Are you over 50? Well come to the Senior Health and Resource Expo tomorrow, (Saturday, Oct. 22nd), from 9 a.m. to noon!

Information on a variety of services will be offered, including alternative medicine, financial management, assisted living options, mobility products, safety and personal protection, employment and volunteer opportunities, medical screenings, and more.

There'll be a lot of exhibitors including:
Greater Newport Physicians
Hoag Hospital
City of Irvine
Costco, and many more. See a list of exhibitors at THIS LINK.

There'll also be:
Hearing tests
Massage and Foot Screening
Blood Pressure tests
BMI tests
Cholesterol tests
Muscle scans, and
Balance tests.

Hoag will be providing free flu shots for participants age 50 and older. Appointments and walkup registration is available too. ............. I hope to see you there.

The Lakeview Senior Center is at 20 Lake Rd, Woodbridge, Irvine, CA 92604.

Wall Street Journal & Forbes: It’s Time to Buy A Home

2011-10-18T15:47:00.001-07:00

Today I bring you some nudging by financial institutions that have for years, been on the forefront of industry trends. As always, thanks to my friends at Keeping Current Matters for bringing this information to us.

I believe very strongly that now is the time to buy a home. Some will say I'm just saying this to create real estate transactions and commissions. Because of that, today I'll quote what those outside the real estate profession are saying to the people who look to them for financial advice.

The Wall Street Journal

Last week, in an article entitled It’sTime to Buy That House, the WSJ told their subscribers:

“It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.” In an article two weeks ago, MarketWatch.com (the on-line blog for WSJ) told their readers: “Now could be the best time in history to buy a home.”

Forbes.com

In a report to their subscribers, Capital Economics reported that:

“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.”

Why is this important? Last week, Forbes explained to their readers:

“If rents simply kept up with inflation at a 3.2% annual increase, a $1,500 rent payment would cost that renter nearly $900,000 over the next 30 years. The same $1,500 payment made to their mortgage would be only $540,000 (because the payments don’t increase with inflation).”

They went on to explain the advantages of homeownership during retirement:

“Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement…

At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference not to mention the impact of NOT having to pay a mortgage. How much less would you have to save for retirement if you didn’t pay the mortgage?”

Bottom Line

When the iconic financial newspaper and the iconic financial magazine say that it now makes financial sense to purchase a house, perhaps it’s time to buy a home.

City of Irvine's 40th Anniversary Bike Ride

2011-10-06T19:32:00.000-07:00

If you're a cyclist, you're invited to enjoy an hour-long mountain bike ride along a portion of the City's more than 40 miles of bike trails.

The free 40th Anniversary Bike Ride, put on by the City of Irvine, starts at 9 a.m. on Saturday, October 15 at the Quail Hill Trail Head, located at 34 Shady Canyon Drive, Irvine.

This is a 5 mile ride.

The route will take riders along the Shady Canyon Trail to Bommer Canyon and
back. This moderate, (with hills), bike ride will provide community members with a sense of the bike trail system as well as the City’s diverse open space.

Helmets are required and geared bikes are preferred.

No children under the age of 9, and all minors must be accompanied by an adult.

The event will be cancelled if it rains.

To register, just click here.

10th Annual Irvine Global Village Festival

2011-09-27T12:06:00.000-07:00

The City of Irvine's Global Village Festival takes place on Saturday, October 1, from 10 a.m - 6 p.m at Bill Barber Park.

Now celebrating its 10th year, this multicultural festival features international cuisine, live entertainment, a Kids Village with crafts and activities, cultural and religious exhibits and an international marketplace.

Festival admission, parking and shuttles are free.

For more information, visit irvinefestival.org

See you there!

What Happened to Modifications?

2011-09-26T09:15:00.000-07:00

There seems to still be a great deal of confusion to where the marketplace is headed with regard to Loan Modifications, Short Sales and Foreclosures.

Our friends at Keeping Current Matters have waded through the details and brings us the latest on...What Happened to Modifications?

There are many questions as to whether modifications would have a major impact on preventing an increase in future foreclosures. Though modifications are still being done, the onus by the government and the banks has currently shifted to two other initiatives to help the housing recovery:

1. Preventing future delinquencies (people falling behind on their payments)

2. Clearing the backlog of foreclosures already owned by the banks (REOs).

As proof of this, we just need to look at the speech by Edward J. DeMarco, the Acting Director of the Federal Housing Finance Agency (FHFA), to the American Mortgage Conference. The text of the speech was released last week.

Mr. DeMarco explains: “At the end of the Bush Administration and in the early days of the Obama Administration, attention focused on loan modifications as a way of stabilizing troubled borrowers’ monthly payments and aiding them in avoiding foreclosure. These efforts resulted in the Home Affordable Modification Program, or HAMP. For much of 2009, the key priority was developing and then implementing HAMP; in late 2009 and into 2010, the challenge became making HAMP more operationally effective and converting borrowers from trial modifications
to permanent modifications.”

DeMarco then talks about what initiatives the agency is now concentrating on:

“Current priorities are focused on issues at the two ends of the foreclosure process – at one end, we are enhancing efforts to keep current borrowers from going delinquent in the first place and at the other end, we are now focusing on the challenges of disposing of the real estate owned that is left after a foreclosure.”

My experience shows that the vast majority of loan mods do not work, and I urge people who are upside down with their mortgages to have a back-up plan.

Preventing New Delinquencies

Trying to prevent more American families from falling delinquent on their mortgage payments is a great first step to a recovery in the housing sector. DeMarco claims:

“FHFA is carefully reviewing the mechanics of the Home Affordable Refinance Program (HARP) program to identify possible enhancements that would reduce barriers for borrowers already otherwise eligible to refinance using HARP. If there are frictions associated with the origination of HARP loans that can be eased while still achieving the program’s intent of assisting borrowers …we will seek to do so.”

Clearing Existing Foreclosures

We must also clear the inventories of foreclosures currently held by the banks. This is seen by FHFA as a crucial component to any plan to help the real estate market recover.

“The second area I would like to briefly discuss is the disposition of Real Estate Owned or REO. In August, FHFA, Treasury, and HUD issued a Request for Information (RFI) on ways to dispose of REO properties. While the Enterprises have considered various approaches to disposing of REO over time, the RFI represents an opportunity to consider new approaches, including possible approaches that include both the Enterprises and the Federal Housing
Administration (FHA). By taking this collaborative approach, the three agencies seek ways to improve returns to taxpayers and bring greater stability to local housing markets. We have received nearly 4,000 submissions in response to the RFI. We are encouraged by the strong response and interest in this effort. Obviously it will take a little time to review so many responses but we are already hard at work doing so. To be clear, this effort is not intended to
develop a single, national program for REO disposition. Rather, we are most interested in proposals tailored to the needs and economic conditions of local communities.”

Bottom Line

To help the market, the two major initiatives FHFA is pursuing are preventing new delinquencies and selling off the backlog of foreclosures that currently exists. Modifications, at best, now appear to be on the back burner.

Read about innovative short sales here.

Why live anywhere but in Woodbridge, Irvine?

2011-09-20T16:29:00.000-07:00

I was taking the dog for a walk around South Lake in Woodbridge last night, and the view of the lake was quite stunning.

Here's a short video I took with my iPhone.

I really love working and living in Woodbridge, and it's not only because of all the activities in and around the two lakes, or the 31 parks, the 24 pools, the 4 tennis court complexes, the 8 basketball courts, the barbeques and tot lots.

Perhaps it's the shopping & restaurants, or the great schools?

(My youngest kid loves Woodbridge High where she is a Junior, and also Springbrook Elementary & South Lake Middle, where she was enrolled prior. There
are four Elementary schools, two Middle schools & one High School, in Woodbridge.)
Perhaps it's the great people I've met, and continue to meet, that appeals to me about Woodbridge, but after thinking about it, there probably isn't just one reason, but an accumulation of all of the above reasons!

If you know anyone who'd like some information about Woodbridge, please let me
know. I'll be happy to send them a package, and if they're interested, I can show them some Woodbridge properties that are for sale or for lease. My contact info is at the bottom of this page.

102 Woodbridge homes are currently "for sale", and the prices range from $209,900 for a 2 bedroom attached short sale condo in the Village Green tract, to $1,159,900 for a 3 bedroom 2,366 square foot SFR on Lakeview in Arborlake.

Two new Woodbridge rentals in "Seasons"

2011-08-24T10:18:00.000-07:00

I just listed two properties for lease in the Seasons tract in Woodbridge. This tract, with its charming white picket fences, is in high demand, and if these are still available next week, I'll eat my hat!

One is a 3 bedroom listed at $2,500 per month, and the other a 2 bedroom, list price $2,000.

39 Wintermist may be perfect for you if you're looking for a 3 bedroom Woodbridge home with a 2-car attached garage. It is the LARGEST FLOOR PLAN in Seasons. New wooden floors, new carpet, and a to-die-for GOURMET KITCHEN with new cabinets, beautiful stone back splash, stainless steel deep sink & top of the line STAINLESS STEEL APPLIANCES. Light and bright, with an open floor plan. The home has a great front yard and wrap-around back yard. The master bedroom has a HUGE ORGANIZED WALK IN CLOSET. The second & third bedrooms both have mirrored closet doors & organized closets. All bedrooms have ceiling fans, and of course the home is air-conditioned. FRIDGE, WASHER & DRYER are included.

57 Wintermist is a darling ONE-LEVEL townhome.
Great driveway to the 2 car garage, with direct access to the 2 bedroom house. Wood flooring and PLANTATION SHUTTERS. Freshly painted. Open-plan living and dining. Cozy fireplace in living room, with large windows that let in loads of light to the vaulted ceilings in the living room. Master bedroom has glass sliding-door to yard. Both bedrooms have mirrored closet doors. The condo has one of the largest yards in the tract.

California Pending Home Sales Rise for Second Straight Month

2011-07-22T13:38:00.000-07:00

Pending home sales in California increased 4.4% in June from one year ago and were up 1.9% from the previous month, the second-straight gain for one of the hardest hit states since the housing downturn, (as reported by JON PRIOR from HousingWire.com), according to the California Association of Realtors.

The distressed property share of the market remained unchanged from the previous month, totaling 47% of all sales. Of these 19% were short sales, dipping from 20% in May. REO made up 27% of all sales in the state, relatively unchanged from the month before.

"Pending home sales have improved in the last couple of months and the next few months should bring continued gains," said CAR President Beth Peerce.

Foreclosure activity is on the decline in the state as well. According to real estate data provider DataQuick, default notice filings dropped 19.2% in the second quarter from last year. The 56,633 filings was a four-year low.

Some counties are heading toward a recovery faster than others. Distress sales made up 20% of the market in Humboldt County, in the far northwestern part of the state. That's compared to Riverside and San Bernardino counties in Southern California where roughly 69% of sales were distressed properties.

"So much depends on the direction of the economy, going forward," Peerce said. "As for the makeup of the market, distressed sales continue to be a significant part of the market with the split between short sales and REO sales varying greatly across the state."

Behind on your house payments? Even if a foreclosure sale date has already been scheduled . . . even if you're doing a loan mod. . . even if you think you're in the eleventh hour . . . I can help.

If your property is in Irvine, Tustin, Costa Mesa, Mission Viejo or anywhere in Orange County, speak to me before doing anything. You HAVE to have a back-up plan. Ask me what your options are!

New law gives added protection to short-sale hopefuls

2011-07-21T19:15:00.000-07:00

On Friday, Gov. Jerry Brown signed Senate Bill 458 (Corbett) into law. The new law, which contained an urgency clause and became effective upon signing, protects homeowners pursuing short sales by barring first and secondary lien holders from going after sellers for money owed after the short sales close.

Making sense of the story.

A short sale – a transaction in which the homeowner sells the property for less than is owed on the mortgage – must be approved by the lien holder or lien holders, if there is more than one.

Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short-sale payment as full payment for the outstanding balance of the loan, but the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.

This is great news for people considering a short sale!

Fallen behind with your mortgage payments? If you're presently doing a loan mod, you MUST have a backup plan.

Ask me what your options are.

How to get a good FICO score

2011-07-14T14:22:00.000-07:00

Sage advice from John Ulzheimer at Smart Credit on keeping your credit score high. He says he's a broken record on the subject, but I would contend that it is counsel that we need to revisit often...

You know who you are – you want to get the maximum FICO score of 850. You can’t be satisfied with an 849 or even 800. I hate to burst your bubble, but don’t waste your time on trying to reach the maximum score. You can get the lowest interest rates with a score of 760 and above. You don’t have to have the perfect score.

In your attempt to increase your score, you may actually decrease it instead so BE CAREFUL. Some actions you think may work can actually lower your scores, such as closing open accounts with no balance, paying off old charged off accounts, and applying for more credit card accounts.

Your score can change constantly because of the updates to your credit reports by the credit grantors. Even if you pay your bills in full each month, a balance will be reported to your credit reports unless you stop using them altogether.

Profile of consumer with 850 score:
A credit reporting agency and analytics company for communication industry, SubscriberWise, conducted research on their database of one million consumers to analyze those with a FICO score of 850. Of those that received a score, .002% had a score of 850. The average age was 61 years (ages ranged from 44 to 89); and average age of credit file was 30 years (ranged from 1958 to 1994). Keep in mind this was a small population and for a particular industry. That doesn’t mean that those younger can’t achieve the maximum score.

The ideal range is 760 to 810; you still get the best interest rates. Don’t try to game the system. You may lower your score instead. I am a broken record on the best way to keep your credit score high – pay your bills on time, don’t use more than 20% of your available credit, pay down your debt and don’t apply for new credit.

Another spectacular 4th of July in Woodbridge!

2011-06-25T10:57:00.001-07:00

Plans are underway for another spectacular 4th of July in Woodbridge!

Join your friends and neighbors for a day filled with activities, laughter, and excitement.

Wristbands are required for the many activities offered at the South Lake Beach Club on the 4th (volleyball tournament, carnival, bingo, swimming at the South Lake Beach Club, and boat races), but are not required for the Ralph J. Redington 5k/10k and Kids Run, and Wheels on Parade.

The run forms and wristbands are now on sale and available for purchase through the Association Office at 31 Creek Road.

There will be 3,000 wristbands available for purchase at $8.00 each and are sold on a first-come, first-serve basis to adult WVA members with proper Facility Identification.
Residents may purchase as many wristbands as they wish!

For more information regarding the 4th of July activities you can visit the Association website at http://www.wva.org/, and if you have any questions, please contact me at (949) 232-5634 or through my website here.

Why They Are Saying to Buy A Home Now?

2011-06-16T12:43:00.000-07:00

The Price of a home versus the Cost of the home is often a calculation over looked. Our friends at Keeping Current Matters touch on this and bring 4 articles that all talk to the point that this is the time to buy. Why They Are Saying to Buy A Home Now?...

Despite what appears to be a non-stop wave of tough news regarding real estate, four major media players have come out this month with the same advice: It Is Time to Buy a Home!

Here are the four articles and a breakdown as to why the advice makes sense.

The Wall Street Journal:
Why It’s time to Buy

CBS Money Watch:
Why the Time to Buy is Now

Forbes Magazine:
9 Reasons to Buy a House Now

National Public Radio:
For Many, It’s Still a Good Time to Buy a Home

With prices continuing to depreciate in most regions of the country, some may wonder why these four entities are suggesting to their readership that now is the time to buy.

Each organization realizes that PRICE is not as important as COST. The cost of a home can go up even if prices continue to fall. Unless you are an all cash buyer, you must take into consideration the expense of mortgaging when calculating the full cost of a home.

Here is some information to consider.

Interest Rates
Currently, interest rates sit at historic lows. However, Fannie Mae, Freddie Mac, PMI and the National Association of Realtors are all projecting approximately a 1% increase in mortgage rates over the next year. A one percent increase in rate negates a ten percent fall in prices.

Lending Standards
The government has proposed a tightening of lending standards called Quality Residential Mortgage (QRM). If accepted as proposed two things will happen:

The qualification process for loans will become more difficult.

The cost of a loan will increase.

Bottom Line
There is a reason more and more financial organizations are suggesting to their followers that now is the time to buy a home: because the cost of purchasing a home is about to increase (even if prices continue to fall).

Should You Rent or Buy in this Market?

2011-06-02T20:03:00.000-07:00

More good info on the rent vs. buying a home front from my friends at Keeping Current Matters. Get the facts and make a decision. Remember, loan limits look to be changing this fall.

Families are trying to determine whether or not now is the time to buy a home.

Some are advising these families to sit out the current real estate market and instead rent for the next year or two. I don't agree with this advice.

Homeownership means a lot to a family. I also realize that the financial aspects of purchasing a home today can be a concern. The challenge is any advice given by someone in the real estate community is immediately dismissed as self-serving.

For this reason, I want to give you the advice of three entities not involved in real estate sales:

Citigroup

“When we examine the relationships between mortgage payments and income and mortgage payments and rent, we see that these relationships have also reverted back to or below equilibrium points. In some cases, particularly when mortgage payments are compared to the cost of renting, home prices actually appear cheap.”

JP Morgan

“JPMorgan analysts said ‘the continuation of falling rental vacancies and rising rental demand will make home buying increasingly attractive’, especially as rental prices increase.”

Business School professors Eli Beracha and Ken H. Johnson

“Fundamental drivers now appear to be in place that favor homeownership over renting in the near term future…

The second finding might seem unwise to many given the recent crash in the real estate markets around the country. However, rent-to-price ratios now seem to be in place along with other fundamental drivers that favor ownership over renting…

Conditions (historically low mortgage rates and relatively low rent-to-price ratios) now seem in place to favor future purchases.”

Bottom Line

Is it better to rent or buy? According to those quoted above, it seems it may be becoming a no-brainer. Let's talk.

17th annual Studio Arts Festival

2011-05-31T09:34:00.000-07:00

The Irvine Fine Arts Center will host the 17th annual Studio Arts Festival on Saturday, June 4 from 9 a.m.-5 p.m.

The Festival will showcase more than 100 local artists and more than 1,000 original works of art spanning across a variety of mediums including ceramics, sculpture, jewelry, painting, photography, textiles and glass. The Festival will also feature live music, food, art demonstrations, and the "crowd favorite" - ice cream sundaes sold in handmade ceramic collector bowls.

Admission and parking are free. Event proceeds benefit special projects and programs sponsored by the Irvine Fine Arts Center. The Irvine Fine Arts Center is located at 14321 Yale Avenue, Irvine. For more information, visit irvinefinearts.org or call 949-724-6880.

For other Irvine information, see http://tiny.ly/vCzJ

Appraisals: Why You Must Now Sell Your House Twice.

2011-05-26T13:34:00.000-07:00

In today’s market the appraisal is more important than ever and in many cases it can be a deal breaker. It’s critically important that there is a plan in place to justify your selling price so that you can close your transaction smoothly. Our friends at Keeping Current Matters talk about the situation and how now with Appraisals: Why You Must Now Sell Your House Twice.

Banks have become very conservative when lending mortgage money today. With the current foreclosure challenges in the country, we can’t really blame them. The requirements now necessary to qualify for mortgages have gotten much more stringent and it seems will get even more stringent as we move forward. The banks want to make sure the prospective buyer has the ability to repay the loan.

However, this does not just involve the borrower buying the property.

The second way a bank can protect their investment in the mortgage is to make sure that the collateral backing that mortgage is secure. That is where the appraisal comes in. The bank wants to make sure that, should the buyer not be able to make their payments, the house they will be forced to take back will sell for an amount at least equal to the balance left on the mortgage. For that reason, the banks seem to be getting more conservative with appraisals also.

This past week, the National Association of Realtors (NAR) released their
Existing Homes Sales Report. In that report, they said:

“11 percent of Realtors® report a contract was cancelled in April from an appraisal coming in below the price negotiated between a buyer and seller, 10 percent had a contract delayed, and 14 percent said a contract was renegotiated to a lower sales price as a result of a low appraisal.”

One out of four real estate transactions was either cancelled (11%) or renegotiated to a lower sales price (14%) because of a low appraisal!!

Bottom Line

Every house now has to be sold twice: first, to a potential purchaser and then to the bank appraiser. And, it seems that the second sale may be the more difficult of the two. Sit with a local real estate professional and make sure you put together a plan for both sales.

He didn't look like an agent so I called the police!

2011-05-09T05:31:00.000-07:00

OK, there I was at my Broker Preview, wiping down the granite countertop where someone had dropped a piece of California Roll, and he walked in.

As usual, I said "Welcome", and "Come on back for refreshments", but this was before I had turned around and had a look at my latest visitor.

The first thing I noticed, was that his fly was undone. If this was the only odd thing about him, I wouldn't have been at all concerned, but he was wearing a faded pair of denim jeans, and a worn canvas jacket - not the kind of attire that an agent previewing a home usually wears.

On the other hand, I thought to myself, this is Southern California, and it's not like he has a client with him. Perhaps he was working from home
today, and just wanted to preview the home, (and sample some of the seared tuna sashimi or crab roll I had carefully laid out).

Things got a little, weirder. He didn't say a word, as he strode into the kitchen. I handed him the Agent MLS printout of the home, and asked him to drop a business card in the bowl. Still... not a word.... and no card either.

I had sent Mike, (my hubby), for more ice, and by this time, I wished I hadn't.

Irvine is a diverse community, so I rationalized again. Perhaps he doesn't speak English.
(I know, I know. Even if you don't speak English, you know how to say "hi", right!)

So unless he had speech issues, he wasn't an agent - the California Real Estate exam has to be taken in English.

Then he faced the living room & stretched his arms out, as if mentally measuring the room, before heading towards the staircase leading to the upstairs.

"OK", I said to myself, "Enough with giving this guy the benefit of all my doubts!". I headed him off at the bottom of the stairs and said "Sorry, the sellers asked that no-one go upstairs." Well, don't laugh - I was getting concerned by then. If I had a little more time I would thought of something else to say. Also, I wasn't about to let My Weird go upstairs on his own, and I didn't want to be upstairs alone with him either.

I was hoping like H E double-toothpicks that another agent would come in, and then he turned around and headed out the door.

Whew!

I followed him out to the street and saw that he had got on his BICYCLE and had ridden to the house next door. I watched as he opened the gate next door, and walked right into their back yard.

And THAT'S when I called the Irvine Police Department. "Was this an emergency?"
the operator asked. I told her that I didn't THINK so, but thought what if he surprised the neighbor's daughter sunbathing on their PRIVATE lawn, or what if a hundred other scenarios took place? I asked that she send a car over as soon as possible, and then described the man as best I could.

THEN my husband arrived with the extra ice I needed!

We watched the man cycle slowly away.

Two Irvine 5-0 officers arrived within minutes and started looking around. I don't think they ever found him.

I know some of you are thinking I was making a fuss about nothing, but we are talking about Irvine
here - voted by the FBI as the SAFEST CITY IN AMERICA. And not just Irvine. This happened in WOODBRIDGE. This kind of thing just does not happen in Woodbridge, (until now).

My advice to (especially female), agents, is NOT to be alone if possible. Yes, we all know that for Open Houses, that's old advice, but I was at a Broker Preview. I went online and ordered some Pepper Spray for NEXT TIME!

Some are Confused about Foreclosures:

2011-04-23T15:18:00.000-07:00

The numerous foreclosure reports we read in the papers and online often contradict each other. One headline will say that foreclosures are increasing, and another discusses the decrease in the number of properties that are foreclosing.

Of course this causes a lot of confusion about
the foreclosure issue.

Let’s try to simplify the foreclosure process.

There are five individual stages in the foreclosure process:

(1) 90 Day (plus) Delinquencies
Most banks include homes where the homeowners are three months behind on their payments, in their foreclosure numbers, but some don't.

This is because less than 2% of those who fall that far behind ever catch up in their payments. The rest will end up as a short sale or foreclosure, and these homeowners hardly ever get a foreclosure notice right away. Sometimes a homeowner trying a short sale will miss a year
or more of mortgage payments, without having received a foreclosure notice.

(2) Homes Already in the Foreclosure Process
Owners of these homes have received a formal court notice which officially starts the foreclosure process.

(3) Homes Already Repossessed by the Bank
These homes have finished the foreclosure process and are now owned by the bank. These
homes are known as REOs (Real EstateOwned).

(4) REOs placed on the Market
This is when the banks hire someone like me to list their REO properties on the market for sale. Some have to be fixed up before being advertised for sale, (you have to see the condition some leave the homes in, even faucets and light bulbs are removed!), while others are put up on the
MLS right away.

(5) REOs Sold
Obviously, these are the REOs, (bank owned homes), that actually sell.

I know, it still sounds confusing….

To truly understand the distressed property situation in Irvine and what impact it may have on prices, contact me.

I’ll be able to simply and effectively explain, with the use of charts & graphs, what is happening in our area, and how it may impact you.

Irvine, Orange County Foreclosure Data, Listings & Trends

2011-04-12T20:36:00.000-07:00

Here's an interesting chart from foreclosureradar.com showing the whole city of Irvine.

Thankfully there's not many in the Woodbridge zip codes.

The Foreclosure outcomes can be:
(1) The sale can be cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements.

(2) If the property is taken to sale, the bank will place the opening bid.

(3) If a 3rd party, typically an investor, bids more than the bank's opening bid, the property will be Sold to 3rd Party; if not, it will go Back to the Bank and become part of that bank's REO inventory.

Irvine,CA - Foreclosure Outcomes

Real Estate is PERSONAL

2011-04-10T11:44:00.001-07:00

Every day we get are bombarded with data & statistics. Housing demand is up, then housing demand is down; more job losses, then unemployment is improving; foreclosures, short sales, housing inventory, interest rate movements and much more. It’s enough to make anyone’s head spin! There’s an old saying that claims: “All real estate is local”. I believe that means that we should looks at individual neighborhoods, (like Woodbridge for example), or even tracts within neighborhoods, (there are 40 tracts in Woodbridge), rather than look at the whole US market as reported on TV. How can the average or mean numbers in the whole country be even close to the numbers in one tract in one neighborhood? It’s very unlikely, don’t you agree? When prices are falling nationally, there are some places where prices are holding steady or rising. Look at the real estate section of today’s OC Register & see for yourself. I also believe that even that old saying is too broad. Buying a home isn’t a local phenomenon….it is a personal one. It’s the same as the economy. Even though the US of A has been going through a national downturn, a lot of peeps are having their best years ever. I agree that unemployment and foreclosure are tragic realities and things to be aware of, (let’s not stick our head in the sand like ostriches), but for those of us not in those situations, we need to make decisions that will best serve our personal goals. To that end, I am confident that is a great time to buy a home because: (1) Historic low interest rates make more house more affordable, (2) There’s a huge amount of available inventory, and (3) Finally home prices are back in line with income levels again. I believe that it’s also a terrific time to sell. Correctly priced homes are selling almost immediately. Sure you wish you had sold in January 2007, but remember that sellers become buyers. When you buy your next home, you’ll get the advantages that buyers are enjoying now, as well.

Woodbridge Market Update

2011-04-06T12:59:00.000-07:00

The highest priced Woodbridge home right now is a 5 bedroom 3,860 square foot SFR on Coldbrook in the Gables. It is definitely worth a look! The prices of Woodbridge homes for sale right now, range from $245,000 for a 2 bedroom attached short sale condo on Rockwood, to $1,350,000 for the Gables home. There are 101 Woodbridge homes currently for sale, including the very spacious 400 E Yale Loop townhome, which is offered at $630,000. Priced to sell! See more at http://www.sagorin.com/ 26 Woodbridge home sold in March 2011, at prices from $245,000, (for a 1-bedroom Standard Sale in Park Vista), to $695,000 for a 4-bedroom home on Bitterwood.

I just listed a great Savannah model.

2011-04-04T12:13:00.000-07:00

Let me know if anyone you know might be interested in this UPGRADED, turnkey, GROUND LEVEL, wheelchair-accessible 2 bedroom townhome! Light and bright throughout with NEW CARPET, decorator paint, wooden blinds, dual-pane windows, 9ft ceilings, recessed lighting. Convenient inside laundry. The gourmet kitchen has GRANITE COUNTERTOPS, stainless steel appliances & Mocha cabinets. The fridge, washer & dryer are all included. Check out the sparkling Association amenities, including pool & spa, (the three pools have free Wi-Fi access), clubhouse, parks, TOT-LOT & basketball.

What to do about this Craigslist scam?

2011-03-29T09:40:00.000-07:00

I routinely post my listings onto Craigslist, (as well as a bunch of other sites of course!), but this is the first time I've seen this scam! I posted a lease listing on Craigslist this week. Here's the actual ad. Imagine my surprise when I received an email from another Orange County agent, advising me that her clients had spotted my $2,900 per month listing advertised on Craigslist for $700 per month! She suggested I take a look at the fake ad. They stole photos and some description from my ad, reduced the price by a couple of thousand, but it gets worse:

The contact email address they posted on Craigslist was fake, but they used the owner's name! They set up a Yahoo email account using my client's name, (email address hidden)! This means that they must be pretty savvy, to check the tax records & get the owner's name.

Interested to see the reply-email you get when you respond to the fake ad? See below.

I guess the next thing that would happen, after someone naively enters their information in the form below, would be for them to receive an email asking that a deposit is wired to their West African, (Nigerian), bank account. Here is the email response:

From: (email address hidden) Date: Tue, Mar 29, 2011 at 5:13 AM Subject: Re: $700 / 2br - Two bedrooms PLUS DEN! Fabulous tranquil end-unit location with two pr (Irvine, CA) Hi,

I can see you are interested in the ad I have posted, I am currently in West Africa with my family where we work as a volunteer with the Missionary, here is the site www.missionary-blogs.com for more details about why we are here in West Africa .We spent less time in the States so we could not get a hold on any Realtor to handle this rent issue, although it was when we knew how long we are going to stay in West Africa that we decided to rent out the house. However, the initial plan was to sell out the house. which we tried, but sometimes the agents inflates the price and it takes longer to sell we are telling you this in case you find the house on another website, that is the old advert So we need a tenant to take care of it but since we are out of the state now, we have received some proposals regarding the rent because it is located in a very good area of Irvine, but we still have to make sure it is rented out to someone who can take good care of it.The keys to the House are right here with me and i could send it to you after all necessary agreement has be accepted by my family,It includes facilities such as water and heat laundry facilities, air condition, internet and telephone access and a car park and other necessary facilities, also comes with trash collection, pets are allowed as well as long as they are not destructive,we also want you to let us have trust in you as we always stand on our word. So if you know you are capable of the task,It is available for a long lease.The monthly rental fee is $700 per month including the utilities and the security deposit is $500 which is refundable back to you at the end of your stay if nothing is damaged from my properties.It is not the money that is the main problem but we want you to keep it tidy all the time so that we will be glad to see it neat when we come for a check up.You will only be able to drive by the house for now but not have a look at the interior until we have sent the keys and documents of the house to you.So we wouldn't want any violation on our property if finally rented by you. Please if you are ready now to occupy the house kindly provide the information below for record purpose RENT QUESTIONNAIRE - PLEASE TELL US ABOUT YOURSELF

Full Name__________________________ ________________________

Home Phone ( ) ________________________

Date of Birth_________________________ ________

Other Phone ( ) ___________________

Current Address_______________________ ________Apt#________ City__________________ State______ Zip________

Reasons for Leaving_______________________ _____Rent $__________

Phone ( ) ____________________________

Are you married_______________________ _____

How many people will be living in the house_________________________ ___

Do you have a pet___________________________ _

Do you have a car___________________________ _

Occupation____________________ ________

Move In Date__________________________ __

How soon can you secure the property with the down payment_______________

How soon do you want to receive the keys and documents of my property______

House Address: 105 Lakeshore,Irvine, CA 92604

Looking forward to hear from you with all this details so that we can have it in my file in case of issuing the receipt and contacting you. Await your reply so we can discuss on how to get the document and the keys to you.Please Note that your rent only starts counting after you have finally moved into the house,so you need not to worry about making the deposit payment now and not moving in immediately,all you're doing is securing the house in your favor in order not to loose it to other interested applicants..

Hope to read from you soonest...

011-234-806-431-5450 or +234-806-431-5450 (call anytime)

Thanks so much

This Woodbridge townhouse is just steps from North Lake!

2011-03-26T16:33:00.000-07:00

I just listed this great Woodbridge townhouse for lease.

Know anyone who may be interested in 105 Lakeshore?

Two bedrooms PLUS DEN!

Fabulous tranquil end-unit location with two private outside areas. Steps to North Lake.

Spacious master suite with huge walk-in closet, retreat, private balcony and wonderful bathroom with dual vanities.

Second bedroom has mirrored closet doors. Formal dining room.

PLANTATION SHUTTERS throughout. Vaulted ceilings. Fireplace in living room. Stained-glass in front door.

VERSATILE DOWNSTAIRS DEN with sliding doors to enclosed yard, (great for overnight guests). Light and bright kitchen with lots of counter space.

Enjoy your morning coffee in the breakfast area, while looking out the Bay window to your front yard with the nicest lemon tree you will ever see. Unique fridge with beverage chiller is included, as well as washer/dryer.

A MUST-SEE.

Walk to lake, parks, pools and schools.
See more

First-Time Home Buyers Prepare for Best Buyer’s Market in Recent History

2011-03-20T07:56:00.000-07:00

While affordable housing prices, ample inventories, and historically low interest rates signal ‘buyer’s market’ for investors or move-up buyers, inexperienced first-time buyers may not know if the time is right to make a move into real estate.

It’s not about timing the market, but rather about time in the market.

Once you know how long you expect to own a home, look at the historical value performance of properties in the neighborhood. Remember that the neighborhood is important because there can be huge differences in performance from area to area, (eg Woodbridge to Woodbury), and also from tract to tract, (eg Landings to Seasons).

Be confident about your own job security, down payment resources and tolerance for upkeep, as well as the lifestyle you want today and in the near term. While homeownership may not be for everyone, it is the right choice for hundreds of thousands of people.

Today’s housing market, especially for first-time buyers, makes it almost impossible not to think about the possibilities.

To help first-time buyers know if they’re ready to look for the home of their dreams as we head into this year’s home-buying season, the experts at Move have created a ‘reality checklist’ designed to help them decide if the time is right.

Get your financial house in order
Before you decide to buy a home, it’s essential to make sure your credit is in good shape and repair any damage previously done. Know your credit score: thirty-five percent (35%) of successful buyers recently reported they didn’t know their credit score when they went house shopping. Having enough money set aside for a down payment is a key component to making sure you are ready to purchase a home. Also, it’s important to not put all of your money in the down payment as other fees or unexpected expenses often arise after closing.

Don’t fall in love with a house you can’t buy
Find out how much you can afford: establishing your purchase power upfront, including how much money will be required for a down payment and closing costs, is a must for first-time buyers. Look for special loans available from FHA and government sponsored loans for first-time home buyers that reduce the amount of money required to get into a home. I can put you in touch with a few Orange County lenders who can help you.

If now isn’t the right time, prepare for your future purchase
If now isn’t the right time to buy a home, make a plan with a target date for when you expect to be ready. Improving your credit, paying down debt, stabilizing your work history and calculating exactly how much you can afford, are the best ways to prepare for your future home purchase. It’s also important to refrain from making any new large purchases or applying for new credit.

Including 400 E Yale Loop, there are 95 for sale now.

2011-03-12T08:13:00.000-08:00

95 Woodbridge homes are currently "for sale" - that's including my latest listing at 400 E. Yale Loop.

Have a look at some photos on my website.

Right now, the prices of Woodbridge homes for sale range from $1,350,000 for a 5 bedroom, 4 bath, 3,860 square foot home in the Gables tract, down to $230,000 for a 1 bedroom, 1 bath, attached short sale condo in the Laurels.

19 Woodbridge home sold in February 2011, at prices from $295,000 (for a 2-bedroom REO home on Fallingstar in the Laurels), to $1,140,000 which was the sales price for 25 Sandpiper, a 5 bed, 3 bath, 3270 sq ft beauty.

One Woodbridge home has been languishing for 938 days

2011-02-03T14:19:00.000-08:00

96 Woodbridge homes are for sale at this time, the lowest-priced one being a 1 bedroom 1 bath short sale condo in the Laurels.

One of these 96 homes is on Lakeview in the prestigious Arborlake tract and has been languishing on the market for a staggering 938 days!

There are actually four homes on Lakeview currently on the market, and one of them was just listed this week.

This one is one of two that actually HAS a lake view, is a standard sale, and is priced at $1,179,000, making it the highest priced Woodbridge home on the market for sale right now. It is a 3 bedroom detached condo, and certainly a gorgeous home.

Just over half of the Woodbridge homes for sale are standard sales, the rest being probate, bank owned or short sales.

23 distressed homes and 18 standard sale homes are in escrow, (41 in total).

Only 11 Woodbridge homes closed in January, and ALL were standard sales. Prices ranged from $313,000 to $1,138,000. Yes, the highest priced home was on Lakeview in the Arborlake tract!

Where's Waldo, (I mean Gabi & me)? At the Marine Corps base of course!

2011-01-10T15:24:00.000-08:00

Yesterday was a fun day at the Marine Corps base in Camp Pendleton for my daughter Gabi and me.

About 700 of us helped out at our second annual Operation Valentine by making thank-you cards and packing gift boxes for the Marines in Iraq.

We're proud members of a charity organization called National Charity League, (Irvine Chapter), which is a mother-daughter volunteer group that supports local nonprofits while developing leadership skills for the young 'uns!

It took me a minute to find Waldo, (I mean Gabi & me!), in the photo below, which appeared in the Orange County Register last night.

Here's a link to the story.

Holiday lights in the Landing II tract of Woodbridge, Irvine.

2010-12-29T11:37:00.000-08:00

Feast your eyes on this short video I shot of the holiday lights in the Landing II tract of Woodbridge, Irvine.

Spectacular light displays on the Landing II homes are a hallmark of the holiday season in many areas of Woodbridge but none rival the displays on these "Landings II" homes.

The diplays are creative, with thousands and thousands of light bulbs creating amazing scenes, many of them animated, like a really cool moving snowman on a home on Laurelglen.

If you have some free time one of these evenings, take a drive through Landing II, and enjoy!

Ducks, seagulls & a rainbow in Woodbridge, Irvine today.

2010-12-22T21:25:00.000-08:00

Finally, a break from the rain this afternoon!

I was driving alongside South Lake in Woodbridge, Irvine today and was amazed to
see so many seagulls in the water, grabbing the final hour of sunshine.

There was an amazing rainbow in the sky, but by the time I scurried across the
street and took my camera out of my bag, it had almost disappeared.

If you look closely, you'll see the bottom part of it just above the house in the center of the photo, just slightly above the pot of gold :)

Woodbridge inventory of homes for sale down again.

2010-12-06T22:40:00.000-08:00

The number of Irvine homes for sale dropped for the third straight month in November, to 855. This includes both condos & single family homes.

This is 84% of the number of homes that were for sale in August, (1,014).

Well, it's clear that inventory has been dropping but what about sales? An average of 148 Irvine homes have sold each month since August, which is below the 12-month average of 168 homes selling each month.

Look at the Market Activity Index chart below. If the trend continues, this month's inventory will be even lower than last month's, and then it should rise again in January.

The average Days on Market for the active Irvine homes rose from 192 days in September, to 206 days in October, to 217 days in November, to 220 days this month! Going up!

All Woodbridge homes that sold last month were standard sales.

2010-12-05T17:14:00.000-08:00

All 11 Woodbridge homes that sold last month were standard sales.

Compare that with the rest of Irvine where only 73% of November sales were standard sales.

The lowest-priced one was a 3 bedroom Somerset standard sale at $373,500 which was on the market for 69 days. The highest priced one was a Landing II home on Emerald, which sold for $1,100,000 after 144 days on the market.

Woodbridge home shoppers can choose from 98 homes for sale, ranging in size from 900 square feet to 4,600 square feet!

As usual, there is a huge price range too, from $249,000 for a 2 bedroom attached condo short sale on Rockwood, all the way up to $$1,149,000 for a 3 bedroom attached condo on Lakeview. Besides incredible lake views, as the street name suggests, the home has mountain views too.

It's interesting to note that although November sales in Woodbridge, Irvine is down from 16 in October, 35 homes are in Backup Offers or Pending status. As 15 of these are standard sales, December looks to be a high escrow-closing month!

Free 4 bedroom house!

2010-11-05T14:00:00.001-07:00

I ran a full-color half-page newspaper ad yesterday with the heading "FREE IRVINE HOUSE".

Here's the actual ad.

I hope everyone has a chuckle, and that someone puts in an offer!

See the house at 2Glenoaks.com

Irvine is definitely in a Buyer's Market now

2010-10-21T23:28:00.000-07:00

Irvine is definitely in a Buyer's Market now, with 961 homes for sale at the end of September, and only 159 sales. Of course this doesn't mean that some Irvine areas & tracts aren't in a Neutral or Seller's Market.

The number of homes for sale dropped slightly from end-August's number of 992.

If 159 homes are sold again this month, it will take over six months to sell all the inventory, assuming no other homes come on the market, and none of the homes offered for sale expire or are cancelled or withdrawn.

Here is a snapshot of the activity in Irvine during the past year.

See how sales have been dropping every month since May, and the number of homes for sale has increased every single month since December.... until now.

Is the decrease in the number of homes for sale in September the start of a downward trend?

I believe that the end-October inventory number will be lower than last month's, and I believe that the end November number will be even lower still.

Is this wishful thinking?

Well, with the holidays and elections just around the corner, I don't think so.

While I don't see a dramatic increase in the number of homes that will be sold in the next few months, especially as only 66% of our inventory are "standard sale" listings.

Open House today, Sunday 17th, at 2 Glenoaks

2010-10-17T10:37:00.000-07:00

I'm holding an Open House at my latest Irvine listing today, from 1 pm to 5 pm.

2 Glenoaks sits on a huge corner lot.

There's a magnificent custom salt water PRIVATE POOL & oversized 8-person SPA and waterfall, and a Volcano-blower with FOUNTAIN effect in the shallow-end.

Flagstone decking, raised patio and Slate-tiled BBQ area.

See a short video here.

The GOURMET KITCHEN with Solid Cherry-Wood cabinets, including pull-outs & easy-touch drawers, has high-end STAINLESS STEEL APPLIANCES. Tumbled travertine backsplash with imported tile inlay. Look at those SLAB GRANITE COUNTERTOPS!

There are upgrades galore, including dark HARDWOOD FLOORS in the living room, family room, upstairs hallway and Bull Nose stairs, custom stone fireplace and custom built-in entertainment center, decorator paint and recessed lighting.

See the luxurious ITALIAN TUMBLED TRAVERTINE SPA SHOWER, huge tub, custom mosaic tile accents, and dual sinks in the master bathroom. Inside the OVERSIZED WALK-IN CLOSET, is a shoe closet that holds 80 pairs of shoes!

Convenient upstairs laundry. The 3-CAR GARAGE has built-in storage cabinets, dry food storage cabinets, and a large maple/tile cabinet workstation.

I hope to see you there!

"The Landings" Market Update - Woodbridge, Irvine

2010-10-15T09:46:00.000-07:00

Here's the third quarter activity in the two "Landings" tracts in Woodbridge, Irvine:

See more at http://www.woodbridgeirvine.com/

Top 10 Most Stressful Jobs. Really?

2010-10-02T12:10:00.000-07:00

I just read an interesting article on RealtorMag, (by By Melissa Dittmann Tracey), about stressful jobs, and I must say that I was surprised to see the job of a "real estate agent" was considered to be one of the most stressful jobs you can have.

This was according to CareerCast's 2010 Jobs Rated report, which analyzed the stress level of 200 professions.

While I agree that stress certainly comes with the "job", to be ranked the number 10 most stressful profession made me stop and think.

Do Realtors deal with more stress than say, a Wall Street broker on the Trading Floor, or a Second Grade teacher taking care of 20 little "angels"?

Sure, as the article says, competition among real estate agents did rise when the economy softened, and this was reportedly a major factor in landing agents in the top 10 of the most stressful jobs report.

In working out the stress rankings, CareerCast accounted for such factors as work environment, competitiveness, and job risk.

I agree with the part of the report that noted: "Real estate agents and brokers work long, erratic hours, spending much of their time showing properties to clients. They must be extremely independent, and able to handle sales quotas and deadline pressures."

I minimize the number of hours that I spend showing properties to buyers by:
(1) Conducting a buyer interview to guage among other things, the buyer's motivation,
(2) Only taking out buyers who have been pre-approved by a lender, and
(3) Researching homes and asking questions to the listing agent before showing the home.

What agent can honestly say there isn't stress involved with a lot of closings? Sure there is, but a good Transaction Coordinator is worth her weight in gold, (mine is worth her weight in diamonds!), and deadlines passing are very seldom an issue for me.

Do I lead a stress-free life? Certainly not, but a lot of my stress is eliminated by planning my work, and working the plan! It's a help if the other people involved in a transaction are well-organized and on top of their game, but when they're not, stress often follows.

I'm thankful that Realtors aren't listed in the first 9 positions in the Stressful Jobs report - that would be stressful!

John D. Mayfield wrote a good "5 Ways to Handle Stress" article. Check it out.

What were YOU doing at 6:30 AM this morning?

2010-09-24T15:53:00.000-07:00

Well. I was distributing the latest issue of my newsletter to homes in Woodbridge.

"Really?", you probably are asking, "Shouldn't you still be in your PJs at that early hour?", you want to know...

Well, sure I could ask my kids to get some of their friends together and send them off on their skateboards, to do some minimum-wage work, but I prefer to do my own "farming", and this is ONE of the reasons why: (Watch the short video I took below.)

Look at this gorgeous scene I came across when I came to the end of Quiet Moon, in Landing I. I would have totally missed it had I still been in my PJs at home! Isn't Woodbridge South Lake amazing?

Other reasons are:

FIRSTLY, I meet and chat to residents, (who ALSO aren't in their PJs!), as they are walking their dogs, having their early-morning walk or jog, or getting into their cars on their way to the gym or work.

SECONDLY, I see which homes are having renovations done, and make a mental note to contact the homeowner, in case they are preparing their home for sale or lease.

THIRDLY, I look out for homes that have unkempt yards and have solicitors' flyers piling up at their front doors, and contact the owners later in case they need advise about whether to sell or lease the home, or if they want to learn about loan modifications, short sales and foreclosures :(

FINALLY, (and perhaps I should have made this number ONE), I don't get enough exercise. These morning sessions are a really good cardio workout, and it's great to multi-task and get my blood pumping while I do a bit of real estate work!

If you're never up & about before sunrise, I strongly recommend you give it a try. Sunrise in Irvine is at 6:41 AM tomorrow.......

Open House today in "The Landings"

2010-09-19T12:03:00.000-07:00

I'm expecting a large turnout at my Open House in "The Landings" today!

3 Fairdawn is in Landing I, and is listed at $928,900.

Six "Landings" homes have sold already this year. That's a lot when you consider that only five sold last year, and five the year before.

The 3 Fairdawn property has a charming custom front-entry that leads to the dramatic open concept floor plan with volume ceilings, sunken living room & separate dining room.

The windows & doorways have been accented with custom moldings & floors have been replaced with dark maple wood laminate & 6' baseboards.

I hope you'll stop by the house to have a look!

Is inventory is creeping up towards a buyer's market?

2010-08-03T17:31:00.000-07:00

91 Woodbridge homes are "active" right now, ranging in price from $268,888 for a 2 bedroom short sale, to $1,169,000 for a 4 bedroom SFR with a great lake view.

49 are in "backup" or "pending" status, and 19 actually sold in July, 2010. These "sold" homes ranged in price from $299K for a 1 bedroom condo in the Laurels, to $919,400 for a beautiful 4 bedroom SFR in Landing II.

Is inventory is creeping up towards a buyer's market? If you look at this chart of active vs pending vs sold homes in zip codes 92604 & 92614, you'll see that inventory is the highest it's been in at least a year.

Sure, a bit of 92614 is in other areas besides Woodbridge, but you'll agree that inventory is rising!

The next few months will be an interesting time, with affordability at an all-time high, and prices at the bottom of the new upswing.

Nearly 5 months inventory!

2010-07-21T14:25:00.000-07:00

20 Woodbridge home sold in June 2010, at prices from $300,000 (for a 2-bedroom 970 square foot condo), to $975,000 (for a 4-bedroom 2,476 square foot SFR).

It's July 21st already, and only 9 have sold so far this month!

57 Woodbridge homes are either in "Pending" or "Backup Offers" status right now, and only 19 of them are standard sales. Let's see how many close in the remaining 11 days of the month......

The prices of Woodbridge homes for sale right now, range from $278,000 for a 2-bedroom standard sale condo, to $1,199,900 for a 3,000 square foot 5-bedroom SFR, (value ranged from $1,149,900)

89 Woodbridge homes are currently "for sale", which equals nearly 5 months inventory!

Garage Sale in Woodbridge

2010-06-18T21:40:00.000-07:00

I've organized a neighborhood garage sale in the Seasons tract in Woodbridge. It's taking place at 7:00 am tomorrow morning, June 19th! (Yes, I know that's early...)

Quite a few homes are taking part in this garage sale. * Wander from one sale to the next! *

The homes are in the following streets:
Amberleaf
Autumnleaf
Robinsong
Springflower
Winterhaven
Summerfield
Wintermist

You can pick up a map showing all homes that are having a sale, just about anywhere in the Season's tract. You can also download & print a map at www.WoodbridgeHomeSales.com

Come & shop for bargains!

Just listed this 2-bedroom Seasons condo in Woodbridge

2010-06-08T18:11:00.000-07:00

As promised, here's the scoop on the charming tranquil SINGLE-STORY home in the Seasons tract, that I just listed!

It has Pergo floors throughout, and PLANTATION SHUTTERS & wood blinds.

Both bedrooms have mirrored closet-doors. The master bedroom has sliding-doors to the patio.

Check out the white & bright kitchen with breakfast counter/bar.

CATHEDRAL CEILINGS in the living room make this home feel really spacious.

There's a private wrap-around yard.

Great storage closets in the UPGRADED GARAGE. The home is attached ONLY at garage wall.

Within walking distance to Springbrook Elementary school, Southlake Middle school, shopping & dining. All the Woodbridge pools & other amenities are available for your enjoyment.

May home sales in Woodbridge, Irvine.

2010-06-01T14:51:00.000-07:00

I'm listing a 2-bedroom "Seasons" home this evening, and will tell you all about it soon!

The prices of Woodbridge homes for sale right now, range from $297,000 for a 2-bedroom condo, to $1,299,900 for a 4,000 square foot 6-bedroom SFR.

74 Woodbridge homes are currently "for sale".

62 Woodbridge properties are in either Backup Offers of Pending status, but as only 21 of these are standard sales, (not short sale, REO, forclosure, etc), don't expect many more than this to close in the next 30 days.

27 Woodbridge home sold in May 2010, at prices from $310,000 (for a 2-bedroom 1,000 square foot short sale), to $1,125,000 (for a 4-bedroom 3,070 square foot SFR).

You all stay safe out there, OK?!

2010-05-25T06:49:00.000-07:00

I love door-knocking in my farm area.

Often I catch-up with residents who I haven't seen in a few weeks, and sometimes I see some interesting things......

Now my farm area, (Woodbridge), is one of the safest areas in an extremely safe city, (Irvine was voted safest city in America again recently), but it's clear that at least one resident isn't taking any chances.

Needless to say, I got away from that front door without delay, pausing only to snap this photo.

You all stay safe out there, OK?!

So happy that my 88 Dovecrest listing is in escrow.

2010-05-24T21:09:00.000-07:00

I'm so happy that my 88 Dovecrest listing is in escrow. My buyers accepted an offer after only three weeks!

This spectacular turnkey 4 bedroom, 3 1/2 bath home is in a guard-gated community!

This model features a salt-water pool & spa with a waterfall.

It's got a double-loft and a 3-car garage with epoxy floors.

The double French Doors open from the dining room to the tranquil professionally-landscaped back yard, which offers many seating areas, privacy and the perfect place to unwind.

The large comfortable family kitchen is perfect for entertaining and every-day use, with granite counter-tops, custom cabinetry, and tons of storage. It opens to the Family Room with fireplace.

The Master suite boasts an organized walk-in closet, (in fact all four bedrooms and the garage have organized custom closets), a great dressing-room area, laminate wood flooring, a luxurious oval tub and dual vanities.

Premium carpeting upstairs. 2' wood blinds and recessed lighting throughout. All light switches have dimmers. The attention to detail is extraordinary and the home radiates quality.

Irvine Open House

2010-05-24T20:36:00.000-07:00

I hosted a very successful Open House at 2 Birchwood yesterday.

A few neighbors came by to see the Ashford Place home, probably because only one has sold in the past 12 months!

Quite a few serious buyers also stopped in.

The 4-bedroom SFR is tucked away in this exclusive gated community, and it features an expansive driveway, a 3 car garage, and it's on a premium end-of cul-de-sac location!

The lot is over 6,100 square feet.

The pristine upgrades include hardwood floors, crown molding, recessed lighting, Plantation Shutters, ceiling fans and decorator paint. Pride of ownership can be seen throughout the home.

The master bedroom suite has a huge walk-in closet, His and Hers sinks, separate stall shower and relaxing spa-tub.

The spacious secondary bedrooms will accommodate any growing family.

I particularly like the convenient upstairs laundry.

The open layout of the large family kitchen with classic white cabinets and great counter-space is perfect for entertaining, and the walk-in pantry has great storage.

The pools, spas, tot-lots, award-winning elementary school, shopping and dining, are within easy walking distance.

2010-04-27T22:15:00.000-07:00

This really nice 2 bedroom LOWER UNIT is located right on the park.

There's a great view of Wildwood Park from the front door, living room and master bedroom.

The condo is offered at $1,650 per month.

Just steps from the community pool and tot lot, the home is in fabulous condition, with a fabulous kitchen, laminate wood flooring and CROWN MOLDING throughout. Organized closets.

The private, peaceful patio area with slate tiles is perfect for entertaining.
See more at WoodbridgeRental.com.

Irvine's Woodbridge March 2010 home sales.

2010-04-05T10:49:00.000-07:00

27 Woodbridge home sold in March 2010, at prices from $318,000 (for a 3-bedroom 1,098 square foot bank-owned condo), to $1,145,00 (for a 3-bedroom 2,091 square foot SFR).

67 Woodbridge homes are currently "for sale". The sizes of the homes that are for sale range from 715 sq. ft, to 3,100 sq. ft.

The prices of Woodbridge homes for sale right now, range from $199,000 (for a 1 bedroom short sale condo), to $1,399,000, (for a 4 bedroom, 4 bath SFR with great North Lake views).

They're going fast in The Landings

2010-03-13T07:31:00.000-08:00

Don't expect to see many homes in "The Landings" on the market for sale.

Usually when one is offered for sale, it is snapped up pretty fast! Only two are for sale right now, and these are 3 Warmspring, a Plan 2 / B model in Landing I, and 23 Emerald, a Plan 3 / C model, in Landing II.

8 Earlymorn, a Plan 4 / D, went into Backup Offers on February 23rd, after 4 days on the market, and 24 Whispering Wind went into Pending status today, after 10 days on the market.

Both are in Landing I.

In 2009 only were 5 homes sold, (that's in Landings I and II combined), and only 5 homes were sold in 2008 as well.

It looks like we're on our way to beat the sales numbers of the past two years...... Wait and see.

Got gangs? Hope not. I'm happy to be living in Irvine!

2010-02-23T08:28:00.000-08:00

I just spent an enjoyable day at a school about half an hour from peaceful Woodbridge.

Mike & I were there to cheer our youngest on, in her first dance competition.

As we entered the school, I couldn't help but feel happy that our kids don't have to attend a school where there are signs warning that activities would be monitored by cameras and that that all are subject to search for weapons.

I'm not sure what effect the constant reminders of gangs and drugs have on the kids, but I''m sure the signs must be doing some good.

Nevertheless, I sure am glad that we don't see signs like these in safe Irvine!!

Hello First Team - G'bye Century 21.

2010-02-13T19:44:00.000-08:00

I've got exciting news.

Yesterday I joined First Team Real Estate, Inc. in Woodbridge, Irvine!!

First Team and I have created a unique partnership wherein all resources, marketing, advertising, and administrative support are at my disposal.

I'm already using the internet a LOT for marketing homes and finding buyers, and this isn't going to change, but one of the things I'm particularly looking forward to, is increased advertising in the NEWSPAPERS.

Sure, newspaper circulations have dropped a LOT the past few years, but over a MILLION people still get the paper. I thought - why not put my seller's homes in front of these people more than I've done in the past?

Our print advertising is now going to be in EVERY major newspaper in Orange County and Southern California with full page color ads.

A few of the papers First Team advertises in on a WEEKLY basis are Orange County Register, L.A. Times and Irvine World News.

2010-02-08T10:40:00.000-08:00

Take a look at my latest Woodbridge lease listing... NOT the normal rental!

It's a Summervale model 2-bedroom home which has been stunningly upgraded and tastefully decorated.

11 Winterhaven is a ONE-LEVEL condo, located on a cul-de-sac in the Seasons tract, (that's the tract known for its charming white picket fences.)

Wood floors and PLANTATION SHUTTERS throughout. Decorator paint. Recessed lights. UPGRADED LIGHT FIXTURES AND CABINETRY. The doors have glass inserts and updated hardware.

GOURMET KITCHEN. Top-of-the-line STAINLESS STEEL appliances. Caesar-stone counter-tops. Mosaic backsplash. Dark cabinets.

Whoever rents this home will enjoy the BOISE SURROUND-SOUND system while watching TV in the open-plan living and dining areas. There's a fireplace in the living room.

Both bedrooms have ORGANIZED CLOSETS. The master bedroom has a glass sliding-door opening to the private brick-paved patio. You have to see the tiled shower, and the HIS & HERS ABOVE-COUNTER BASINS in the master bathroom.

Like just about all over Woodbridge, you can walk to parks, pools shopping & schools. I've said it before, but you know that the Woodbridge amenities can't be beat!

To get here from Barranca Pkwy, turn onto E. Yale Loop, and cross over Alton Pkwy. Turn left at Springbrook N. Turn left at Fallcrest. Fallcrest turns right and becomes Winterhaven.

Click on the video below to see more or go to WoodbridgeRental.com.

If you know of anyone looking for a really gorgeous 2-bedroom Woodbridge home, tell them about 11 Winterhaven!

The Seagulls are Taking Over!

2010-01-31T11:28:00.000-08:00

I just had to stop & snap this photo of the Woodbridge High School field, when on my way to my office this morning.

Hundreds & hundreds of seagulls had taken over the field, probably feasting on earthworms after the field had been tilled.

If they stay much longer, I'm going to have to find an under-cover parking-space at Century 21 Professionals!

Free Wireless Internet in Woodbridge

2010-01-11T21:56:00.000-08:00

The Woodbridge Village Association has launched a WiFi network at Stonecreek Swim Club.

This new service allows members and guests to enjoy the internet and Southern California's climate while lounging at the pool!

To use the network, please follow the instructions below. These instructions are also posted on the bulletin board at Stonecreek Swim Club and on the Association's web site at http://www.wva.org/ and at http://WoodbridgeHomeSales.com/.

To access the WiFi, select WVA from your list of available wireless networks and press connect. Your PC should connect to the network and Windows may provide a prompt asking if you want to connect to a non-secured network. Accept the connection.

At this point, you may launch your internet browser.

You will get a pop up window with a security notice. Accept the pop up and you will be redirected to the log in page.

For access to internet services, you will be required to press the accept button. By pressing the accept button, you are agreeing to all terms of the Acceptable Use Policy.The system is designed such that a strong signal will only be received within the gated pool area.

The service is free.

Tomorrow's the Half Marathon and 5K race in Woodbridge

2010-01-08T11:21:00.000-08:00

The Annual Southern California Half Marathon and 5K race will be held in Woodbridge tomorrrow.

The races start near the intersection of Creek & Barranca, at 8:00 AM for the 5K and Half Marathon. The Kids Run is at 10:00 AM.

The event benefits Woodbridge High School athletics, and also other IUSD schools, and some local charities.

Over 4,500 participants are expected and the weather looks like it will cooperate! The course is flat and scenic, and it looks like it will be another fun day in Woodbridge tomorrow!

FINAL 2009 WOODBRIDGE HOME SALES DATA

2010-01-03T13:57:00.000-08:00

Following my 12/29 post below, here are the final 2009 Woodbridge home sales numbers.

161 attached & 65 detached Woodbridge homes sold, making a total of 226 closed sales for the year.

The average selling price of these 226 homes was $520,303.

The average Days on Market was 56.9 days.

Here are the highest-priced Woodbridge houses that sold last year:

46 Woodbridge homes are presently being offered for sale. These range in price from $285,000, (for a 3 bedroom short sale), to $1,399,000 for a 4 bedroom standard sale.

Interested in the Days on Market data? Well, this is all over the place, for the usual variety of reasons.

One 3-bedroom home was listed 3 days ago at $575,000 and another was listed 542 days ago at $685,000 and is now being offered at $599,000.

Nicest tracts in Woodbridge Irvine: The Landings

2009-12-31T13:18:00.000-08:00

Two of the nicest tracts in Woodbridge Irvine are Landing I and Landing II, and these consist of only Single Family Residence detached homes.
Both tracks are "inside the Loop" and a wonderful community spirit exists.

Most homes are beautifully decotrated for the holidays.Don't expect to see many homes in "The Landings" on the market for sale. Usually when one is offered for sale, it is snapped up pretty fast!

In 2009 only were 5 homes sold, (that's in Landings I and II combined), and only 5 homes were sold in 2008 as well.

I sold 4-bedroom 25 Whispering Wind, (in Landing I), a few months ago for $995,000, (brought the buyer). One other Landing I home sold in 2009 and this was 4 Earlymorn which sold for $1,055,000.

These 4-bedroom Landing II homes sold in 2009:
11 Laurelglen $825,000.
59 Emerald $870,000.
46 Emerald $1,150,000.

Built by JM Peters, Landing I has 5 models varying from 1,943 Sq Ft to 3,068 Sq Ft, and Landing II has 5 models varying from 2,332 Sq Ft to 3,209 Sq Ft.

Woodbridge home sales year to date

2009-12-29T17:13:00.000-08:00

Year to date, 160 attached & 64 detached Woodbridge homes have sold, making a total of 224 closed sales for the year so far.
The average selling price of the attached homes was $443,100.

Only 4 homes sold at over $1 million, and none were over $2 million.

42 Woodbridge homes are active, (offered for sale), right now.

The average Days on Market was 57.1 days. Look at the breakdown below:

Time on Market UNITS
1-30 Days 101
31-60 Days 52
61-90 Days 28
91-120 Days 14
121-180 Days 13
More than 180 Days 13
Total Units Sold 224

Some reasons why people love Woodbridge, Irvine.

2009-12-20T15:33:00.000-08:00

Woodbridge is a community of about 9,500 homes, with an adult population of about 30,000 people. Woodbridge is known as being a model planned community.

It encompasses 1,700 acres and features approximately 40 parks and pools, two "landmark" lakes and swimming lagoons, two beach clubs (with boat docks), 24 tennis courts, plus many other recreational amenities for use by the residents.

The excellent Woodbridge schools are a big reason people move here.

See all Woodbridge homes for LEASE here, and all Woodbridge homes for SALE here.

Woodbridge is always being kept in great condition, and quite a few facilities have been renovated during the past year.

Recently the pool decks of Stonecreek, Blue Lake, Woodflower & Smokestone were resurfaced.

The lakes have just been stocked with fish, so if you don't catch any, you only have yourself to blame!

More homes for LEASE than there are for SALE?

2009-12-13T13:11:00.000-08:00

Do you know that there are more homes for LEASE in Woodbridge right now, than there are for SALE?

48 Woodbridge Irvine homes are for SALE, (including two-bedroom #3 Whitecloud), and 57 homes are for LEASE, (check out two-bedroom #615 Springbrook North).

23 Woodbridge homes SOLD last month, and 23 were LEASED.

Interesting....

Only two month's inventory of Woodbridge Irvine homes...

2009-12-06T17:59:00.000-08:00

The highest priced home that sold in Woodbridge in November was 11 Laurelglen. After being bought at an auction in July for $690, this 4-bedroom, 2,334 Sq Ft SFR was flipped & recorded early last month, for $825K.

The lowest priced home to sell last month was a 1 bedroom 715 Sq Ft bank-owned condo which fetched $225K.

Altogether, 23 homes sold in November, and 47 are presently for sale, (active), so there's only two month's inventory of Woodbridge homes right now.

The Woodbridge homes for sale range in price from $299K to $1.4 million. The smallest home is 917 Sq Ft, and the largest is 3,400 Sq Ft. See these homes at www.WoodbridgeCondo.com.

The average Days on Market for these homes are 69 days, and the highest is 524 days, (not a typo). The price was reduced 3.5% after 206 days, another $24K 165 days later, and then another $6K about four months ago.

Comparable Woodbridge condos have sold the past three months after only between 4 & 112 Days on Market, with the average being 30 days. Makes you think, doesn't it?

Less Woodbridge Irvine Short Sales?

2009-11-01T09:39:00.000-08:00

There are less short sales & REOs on the market today compared with a week ago, (when there were 16).
The number of short-sales in "backup offers" status is now 26.
Of the 50 active Woodbridge listings, 10 are short sales & 2 are REOs.
The list-prices range from $320,000 for a 1,000 square foot, 2-bedroom short-sale condo, to $1,399,000 for a 3,400 square foot lake-view 4-bedroom SFR.
26 Woodbridge homes sold in October, and these prices ranged from $281,000 for a 917 square foot 2 bedroom, 2 bath condo, to $1,130,000 for a 3,495 square foot 5 bedroom, 4 bath SFR.
Of the sold homes, less than 20% had special conditions, (1 was a short sale, 4 were REO's). The others were all standard sales.
Let's see how many short sales close in November.....

Only two thirds of all Woodbridge listings are Standard Sales

2009-10-25T11:40:00.000-07:00

38 of the 57 Woodbridge homes currently on the market for sale, (or two thirds of all properties), are standard sales.

The other listings are short sales, (16 homes), and REOs, (3 homes).

As far as Woodbridge lease listings go, right now there are 72 available. These range in price from $1,275 for a 1-bedroom condo, to $3,800 for a 4-bedroom SFR.

My beautiful 5-bedroom listing at 1 White Birch has just been reduced in price to $2,950 per month. It's on hold for a couple of days while the handyman & painter do their stuff.

2009-10-11T19:36:00.000-07:00

I just listed this 5 bedroom Woodbridge home for LEASE. One bedroom is downstairs and the other four are upstairs.

It's INSIDE the loop, on a cul-de-sac, and is offered at $3,500. per month.

The address is 1 White Birch, Irvine, CA 92604. It's a Willow model that has been upgraded & expanded.

Plantation shutters throughout.

The huge double-garage is fully carpeted, with plently of built-in and overhead storage. This is perfect for a kids' playroom, or for an office. A Washer/Dryer is included.

There's lots of kitchen counter-space, and there's TWO sinks and TWO dishwashers. The fridge is included.

The kitchen looks out to private yard & great entertaining-area with built-ins & patio-cover.

White Birch is near North Lake, restaurants, movies, places of worship, hospital, banks, shopping & more.

Irvine has been named safest city in America several times.

Parents magazine named Woodbridge the best place in America to raise a family , and it is the #1 Planned Community in the USA. The Woodbridge amenities can't be beat, with an array of parks, two lakes with sandy beaches, lifeguards, pools, tennis, clubhouses & more.
See all the Woodbridge homes for lease at http://www.woodbridgerental.com/

Home sale trends in Woodbridge Irvine

2009-10-04T11:26:00.000-07:00

September ended with 25 Woodbridge closed sales – more that twice the number that closed in August.

Does that mean the upturn has come?

Not necessarily…. 21 Woodbridge homes closed in July.

A lot has to do with the homes that are in Backup Offers or Pending status, and right now, there are 65 homes in these categories.

It’s anyone’s guess as to how many will close in October – of course they won't all close.

Only half these 65 homes are Standard Sales and we all know not to hold our breath when working with Short Sales and REO’s, (bank-owned homes).

It’ll sure be interesting to look back in a year’s time, and analyze this market’s numbers.

The prices of the 25 Woodbridge homes that sold in September ranged from $272,500 to $860,000.

55 homes are Active in Woodbridge at the moment, and the prices range from $204,900, (for a 1 bedroom, 1 bath, 715 sq ft REO condo), to $1,399,000, (for a 4 bedroom, 3 bath, lake-view 3,400 sq ft SFR).

Of these 55 homes, 14 are short sales and 3 are REOs.

Buyers who aren’t in a rush, and can handle disappointments should submit offers
an the non-Standard Sale homes.

Those who need to be more confident that they’ll own a new home in 30 – 45 days, should stick to the Standard Sales.

Close, but no cigar!

2009-04-01T10:27:00.000-07:00

I was pretty close!

Instead of 14 closed sales as I predicted, there were 15 closed sales in Woodbridge in March. (Close, but no cigar.)

The prices of these sold homes ranged from $215,000 to $1,045,000.

71 Woodbridge homes are currently "for sale".

Let's see how many Woodbridge Irvine homes close THIS month!

2009-03-13T21:49:00.000-07:00

A quick recap - 4 homes have sold so far this month, (closed), and there are 66 Woodbridge homes for sale, (Active), right now.

13 homes are in Backup Offer status, and a further 13 are "Pending". After last month's very disappointing Closed Sales numbers, (one home!), I have a feeling that we'll see a FEW of these 26 homes close in March.

If I were a gambling lady, I'd bet that 10 of them will close, which will bring the number of Closed Sales in March to 14.

Let's see how close, (or lucky), I am, when I report the final numbers at the end of the month.

2009-03-01T20:43:00.000-08:00

35 Woodbridge homes are currently for sale, and there was only one “closed sale” in February.

That condo sold for $375,000. If any more "closed sale" Woodbridge homes are added, (late), I’ll let you know.

Right now the prices of homes for sale in Woodbridge range from $299,900, (for a 3 bedroom bank-owned condo), to $1,219,900, (for a 4 bedroom, 3 bath, Single Family Residence).

The sizes of the homes for sale are from 917 Sq Ft to 2,794 Sq Ft.

32 homes are in “back-up offer” or “pending” status, and 20 of these homes have special conditions like “bank-owned”, “short-sale”, and others.

2009 Homebuyer Tax Credit

2009-02-28T16:05:00.000-08:00

First-time homeowners - read about the new Homebuyer Tax Credit –

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.

The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability.

If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser

Read more about this at www.woodbridgecondo.com

Woodbridge Home Sales Month-to-Date.

2009-02-18T16:37:00.000-08:00

The total number of Woodbridge "closed sales" so far this month is.... zero.

There are 16 Woodbridge homes in "backup offer" status, and there are 9 "pending". Now as 15 of these 25 homes have special conditions like "short sale", "in foreclosure", (and others), it's unlikely that they will close in 30 - 45 days, like we see in normal markets.

Last month, 10 homes sold and hopefully we'll at least match that number in the next 10 days before month-end.

How many Woodbridge condos and SFR homes are currently for sale, you ask? Well, there are 49, (37 condos & 12 SFR). At the beginning of the month, there were 57 Woodbridge properties for sale on the MLS.

So if 10 homes sell again this month, and we assume 10 will sell each month for a while, there is a 5 month inventory of Woodbridge homes for sale. Of course more homes will be listed, and some will be taken off the market.

It's still very clear that there are a lot more sellers than there are buyers, so our "buyer's market" is here for a while.

Woodbridge Comedy Night Returns

2009-02-12T16:53:00.000-08:00

Have you heard that the Woodbridge Comedy Night is returning on February 27th?

Are you tired of paying high prices to get into Comedy Clubs? If you are, join us for a night of laughs as Woodbridge hosts one of our popular Comedy Nights.

See comedians from "Evening at the Improv," "VH1 Spotlight", and your local Comedy Central.

Bring your favorite refreshments to enjoy during the show.

Date Friday, February 27th
Time 8:00 to 9:45 p.m.
Cost $12.00 pre-registration or $15.00 at the door
Location Woodbridge Community Center

Note Only those 21 years old and over will be admitted. No refreshments will be served, so bring your own if you wish.

The last Comedy Night sold out; each Comedy Night has a limited amount of space, so sign-up early... don't wait!

Woodbridge South Lake This Morning!

2009-02-10T14:57:00.001-08:00

As I rounded the corner on my usual morning walk to South Lake, I had to stop and stare. The mountains looked amazing - all covered with snow. I'd figured there'd be snow on the mountains after yesterday's hail and rain-storm in Woodbridge, but I wasn't expecting anything so beautiful.

Of course I rushed back home to grab my camera, and when I returned, two other walkers, (or joggers - I can't be sure), had also stopped to admire the breathtaking view. One asked me why on earth anyone would choose to live anywhere else in Irvine, but here in Woodbridge?

I answered that I honestly did not know, and told her that I'd post the photos onto my website http://www.woodbridgeirvine.com/ and she was welcome to download them from there.

That invitation is extended to you too! Enjoy!