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Holiday Hints for Sellers:

Some expectations will need to be set for sellers whose home will remain on the market this holiday season and through the new year:

1. Do not keep your home listed if you don't need to.... Or do and get all of the serious buyers before the end of the year!
Often times when we relish in the moments of the season we tend to find our homes and our lives a little more busy and full of decor.  This can be more overwhelming when you get the call that there is an agent that would like to show your home in 1 hour. Stay calm and do you best to straighten up but overall we as real estate professionals need to be sensitive to the time of year. Whereas the sellers and home owners should be pleased knowing the simple truth; that if that buyer is looking to buy a home right now, they are most likely more serious! That being said it is not a bad idea to skip the stress and relatively slow market time to enjoy the holidays with out interruption. Many homeowners tend to remove their home from the market until the new year where they can get fresh exposure. Re-listing your home often attracts new and returning buyers in full almost instantly. Refresh the photography and the verbiage and get a new clean start.


2.  Ditch the holiday decor or make it NEAT~  
Staging your home at its holiday best can ultimately backfire if your sense of staging comes off as overdone or tacky to a buyer. If your goal is to sell you home, please take the simple route and decorate minimally.  Helpful Hint:  If you have a dining room, stage it for a holiday dinner - many buyers are attracted to a whole house simply focused around their holiday dining dreams. Help them visualize their first hosted holiday at their new home!

3.  Set a clear "no show" dates and times with agents.
When the holiday calendar begins to fill,  the remarks your agent makes on the MLS can help you to accommodate the interested buyers more conveniently.  Nothing worse than telling and anxious buyer no the day of. Set clear and reasonable no show dates and let the agents do the rest! Keep them to a minimum to maximize your opportunity though!

4.  Always expect some inconvenience. 
Have realistic expectations... Some buyer is highly likely to track rain, leaves or mud into your house, at some point. If you're home for the showing when these things will happen, so stay calm.  The upside is that a very motivated buyer-to-be may also write you an offer. 

5. Stage their senses to overload.  
Spiced cider, pumpkin pie and baked cinnamon scents are about as universally comforting as it gets. It wouldn't hurt to do some sensory staging and create sense of comfort and cheer as buyers walk into your home.  Try  no hassle plug-ins or scented oil stick jars but please do not leave candles burning or unattended should you use them.


Now tell me: Can you feel the cozy inviting appeal of this home home for sale?

Happy Thanksgiving

Dear Clients and Friends:

Thanksgiving is a time to stop and reflect on what we are grateful for in life: Health, family, love, and friendship.  As we gather with our families and friends for Thanksgiving, it is a time to reflect on all that we are grateful for including the events of history and for those we care about and those who came before us.

"As we express our gratitiude, we must never forget that the highest appreciation is not to utter words, but to live by them." -John F. Kennedy

I personally wish everyone and their families a Happy Thanksgiving.

Nicole McFadden

Avenue One & Local Area 2010 Market Trends

Rancho San Joaquin Zillow Home Value Index

Rancho San Joaquin Home Values - Interactive chart

Homes values although effected by the amount of distressed sales in this area have remained relatively neutral. In speaking with homeowners throughout the Avenue One community they are having a hard time acknowledging the necessity of holding onto their investments or homes until this market recovers. With the luxurious and convenient on-site amenities and ease of life style they are not having any trouble leasing their homes until such time. 

If you have any questions or are interested in investing within the Avenue One community please call me directly and I will be happy to work with you on finding a place to call home, 949.922.8148.

Avenue One 3rd Quarter Market Update

Irvine Mid-Rise Community

Pocket Listing Avenue One

1 Bedroom 

1 Bathroom

Faces East and is full of natural sunlight.

Located within the main building near all amenities.

Original owner.

Please call or email me to discuss a time to view the property or simply discuss real estate opportunities at Avenue One, 949.922.8148.

Notes On Tax Credit Extension

Extended to: 

• September 30, 2010.

Who Qualifies: 

• First-Time Home buyers
• Current Home owners who have lived in their residence as primary for 5 years and are purchasing a new primary residence. 

For Tax Returns:

• First-Time home buyers are required to fill out the Form 5405 and show the transactions Settlement Statement.
• Current/Long-Time residents who are buying new principal residences are require to fill out the Form 5405 and provide the following: Property Tax Records, Homeowners Insurance Records or Form 1098 Mortgage Interest Statement.

For more information from the IRS please click here:

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Just Sold: Irvine Mid-Rise

Avenue One Community

2 Bedroom

2 Bathroom

Short Sale 

Closed in only 69 days after listing!

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

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.

Just Listed in Irvine!

2 Bedroom 

2 Bath

Mid-Rise Condo in Avenue One

1,037 sqft 

Eastern facing view of greenbelt!

Please call or email to discuss further or schedule an appointment to see.

Avenue One 1st Quarter Market Update

Good signs for the Irvine Mid and High-Rise communities. Please call or email for more information or to discuss the current market.

Just Leased- 4,344 sqft. Commercial Suite

-Furnished
-Excellent Freeway Access
-Visible from 405
-Great Airport Area Location

Median Home Price Calculations

92679-Coto de Caza area
Median Home Price $669,000

Zillow Home Value Index

More 92679 Home Values

92612- Irvine High and Mid Rise Communities
Median Home Price $493,20

Zillow Home Value Index

More 92612 Home Values

Mission Viejo Area
Median Home Price $485,500

Zillow Home Value Index

More Mission Viejo Home Values

FHA ANNOUNCED CHANGES TODAY

New rules for FHA borrowers

Policy changes include:

• Raising the up-front mortgage insurance premium: The premium will rise to 2.25 percent from its current 1.75 percent.  HUD is expected to release a Mortgagee Letter on Jan. 21 making the premium increase effective in the spring.
  
  
• Raising the minimum credit score requirements: New borrowers will be required to have a minimum FICO score of 580 to qualify for the FHA’s 3.5 percent down payment program.  New borrowers with less than a 580 FICO score will be required to put down at least 10 percent.  FHA expects this to take effect in early summer after it goes through the normal regulatory process.
  
  
• Reduce allowable seller concessions:  The agency is lowering the maximum permissible level to 3 percent from its current 6 percent limit.  FHA expects this to take effect in early summer after it goes through the normal regulatory process.

Home Prices Rise 0.9 Percent in Third Quarter

December 8, 2009

Second Consecutive Quarterly Increase in Home Values Affected All Regions

McLean, VA – Freddie Mac (NYSE: FRE) announced today that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series registered a 0.9 percent quarterly gain (3.8 percent annualized) during the third quarter 2009 for the U.S., following an upward revised 2.0 percent pickup (8.2 percent annualized) in the second quarter and marking the second consecutive quarter of price increase. The increases of the past two quarters erased about two-fifths of the declines registered during the final quarter of 2008 and the first quarter of 2009; over the year ending with the third quarter of 2009, U.S. home sales prices were down 3.9 percent in the CMHPI Purchase-Only Series.

This is good news for my sellers who have been waiting. I feel that through my time spent in the field showing property that the buyers are there and they know what they want. As home prices begin to rise the buyers are more likely to start putting offers before they miss out on the tax credit and incentives.  Please call or email me to discuss the current market value of your home or your real estate questions, 949.922.8148.

Happy Holidays!

As you gather with family and friends on this holiday, remember that it is a time to be grateful for events that have taken place in our history and the people we care about most.  I wish you and yours a great holiday season and a Happy Thanksgiving.

Sincerely,

Nicole McFadden

30-Year Rates Match All Time Low This Week

November 25, 2009

15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History

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 4.78 percent with an average 0.7 point for the week ending November 25, 2009, down from last week when it averaged 4.83 percent. Last year at this time, the 30-year FRM averaged 5.97 percent. The 30-year has not been this low since the week ending April 30, 2009, when it averaged 4.78 percent.

To read full release click here.

© 2009 Freddie Mac

Tax Credit Extended and Expanded

I want to share with you the Senates favorable vote yesterday, November 4, 2009, in favor of extending and expanding the parameters from first-time home buyers to include existing homeowners.  I included a comparison chart below with a link. 

The president of the California Association of Realtors shared this with me today:

"As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.

Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order."

James Liptak
2009 President

CALIFORNIA ASSOCIATION OF REALTORS®