Accepting Back Up Offers- Avenue One

Offer submitted to the bank but still accepting all backup offers!

Eastern facing 2 bedroom, 2 bath condo in the gated Mid-Rise community of Avenue One in Irvine, CA.

$360,000

Just Leased- Anaheim Hills

Great Community located in Anaheim Hills. 

3 bedroom

2 1/2 bath

2 car garage

To learn more about this property or the local area, please call Nicole, 949.922.8148.

Rates Remain Low

June 10, 2010


McLean, VA - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.72 percent with an average 0.7 point for the week ending June 10, 2010, down from last week when it averaged 4.79 percent. Last year at this time, the 30-year FRM averaged 5.59 percent.

Orange County Market Overview JUNE

Pru Oc Market q1 6

Pocket Listing Avenue One

1 bedroom & 1 bathroom 

725 sqft

East Facing Unit in Main Building

Please call or email me directly to schedule a private showing, 949.922.8148.

Beyond the Headlines

Beyond the Headlines6.7

Leases With an Option to Buy

Basics of a Lease Option: *  Buyer pays the seller option money for the right to later purchase the property.  The lease option money is negotiable.  *  Buyer and seller may agree to a purchase price now or the buyer may agree to pay market value at the time the option is exercised.  It is negotiable, however, most buyers want to lock in the future purchase price upon inception of the lease option. *  During the term of the lease option, the buyer agrees to lease the property from the seller for a predetermined rental amount. *  The term of the lease option agreement is negotiable, but the common length is generally from one to three years. *  The option money generally does not apply toward the down payment. *  A portion of the monthly rental payment typically is applied toward the purchase price. *  Option money is rarely refundable. *  No one else can buy the property during the lease option period. *  The buyer generally cannot assign the lease option to another person without seller approval. *  If the buyer does not exercise the lease option and purchase the property at the end of the lease option, the option expires. *  The buyer is not obligated to buy the property.   Lease Option benefits for the seller:   *  They often get to sell the house at a higher price than they could sell the home in a normal transaction. *  They can sell the house during a slow market. *  By being able to collect a larger monthly payment than they could obtain in a normal lease, the property "cash-flows" and they don't have to come up with money out of their own pocket each month to make the mortgage payment. *  They receive up-front option money and when the buyer cannot exercise the option, the seller is allowed to retain the funds.