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OC Real Estate News & Home Trends (Doors)

October 20, 2012

Happy Friday! Here’s your up to the minute Real Estate news for this week!

Buyers ~ Do you know what to do to get ready to buy a home?
*Don’t make any large purchases when preparing to buy or while you’re in escrow.
*Don’t move money around ~ lenders like to see consistency
*You can make as little as a 3.5% down payment with FHA financing. There are also quite a few Fannie Mae Homepath properties out there with 3% down & seller assist in closing costs.
*Most homes will qualify for FHA financing unless there’s a lot of damage, missing appliances, etc.
*Condos need FHA approval on the entire complex to qualify for FHA financing but I can easily research that for you
*There is help for your closing costs & down payment. There are first time buyer programs & Grants for up to 3% of your purchase price.
*If you’re going to utilize a family GIFT of money towards your costs, please let them know that they’ll need to supply their bank statements to the lender.

Sellers ~ This might sound strange but Construction is UP in Calif! What follows construction is bolstered Real Estate sales & prices! See the link below. Also, OC is leading Southern Calif in home sales & prices with our prices up 5.9% and the median price at $450,000.

Usually the Holidays aren’t the best time to list your home but with all of our buyers out in mass, this is a great time!

IF you’re underwater in your home, as of today, the Fed hasn’t extended the Tax Debt Relief which relieves sellers of tax burden (in most cases) thru the end of 2012. Most were expecting the Relief to already be extended into 2013 but nothing yet and with the election, there aren’t any guarantees. If you’re upside down please call me for details, I would love to help!

Income Property ~ You don’t have to be an ‘investor’ to buy income property. This is a great way to add monthly income for your family! There are many things to consider but price, repairs & rents are the highest priority. If you’re interested in income property, please give me a call, I’d love to sit down & go over the details. There are a lot of REO/foreclosures out there still that need some love! Perfect to do simple rehab & get back on the rental market (see article below about high rents!)

Home Trends ~ Doors! Interior, Front & Garage Doors! I love the ‘exposed barn door’ that can be used for pantry’s (in the article) but also great for dining rooms!
http://www.hgtv.com/walls-doors-and-floors/10-inspiring-interior-doors/pictures/index.html

http://blog.builddirect.com/garage-doors-trends-for-2012-and-beyond/
I’ve got a good garage door guy if you need a referral & lots of carpenters for interior/front doors 🙂

Construction is UP in Calif!
http://lansner.ocregister.com/2012/10/19/calif-no-2-for-new-construction-jobs/167177/#more-167177

Apartment Rents at an all time high
http://lansner.ocregister.com/2012/10/18/apartment-rents-at-all-time-high/167108/

OC Home Prices & Sales UP
http://www.ocregister.com/articles/percent-374443-sales-month.html

I hope I’ve provided some good info for you today!
If you have any real estate questions, please don’t hesitate to call or email & I hope you all have a GREAT weekend!
Patti
714-398-1998
pattig503@yahoo.com
TNG Real Estate Consultants
DRE #01182154

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