My New Blog

Mine came in the other day...yours has likely arrived, too. One client asked if they could appeal even the assessor dropped their value--I said absolutely--as long as you can support the lower value you are arguing for.  If you want to appeal your assessed value, hurry.  The Assessor's reviewers will probably be very busy this summer so the sooner you turn it in, the better.  Need help? Have a question? Give me a call.

On another note...I've now seen a few decent sized single family residences in the area drop into the high $300K range (one just North of Santa Ana Cyn) in Anaheim Hills and one just east of Lakeview by Yorba Linda.  Have not seen those values in a long time...run those numbers and it could be the best time in YEARS to be a landlord or new home owner.  If you want help finding a new home or a rental property, give me a call.

What a market!

Melinda

qualify under FHA programs.  President Bush just signed into law the Housing and Economic Recovery Act of 2008--which is great news for buyers and the real estate market.  Check out this link for details on some of the provisions of the Act:

http://www.realtor.org/gapublic.nsf/pages/hr_3221_key_provisions?OpenDocument

For more info on the $7500 tax credit for a first time home purchase (which is effectively an interest free loan that is recaptured over time available to those who have not owned a home in the last 3 years), check out:

http://www.realtor.org/GAPublic.nsf/files/chart_homebuyer_tax_credit_.pdf/$FILE/chart_homebuyer_tax_credit_.pdf

This Act could make 08 an incredible time to buy!

Happy shopping!!!!

Melinda

Its just about serious bargain hunting season, especially if you are in the market for picking up a short sale or a foreclosure/REO. We're in our last 30+ days or so of the summer sale season.  Sellers (including the banks with their foreclosure holdings) do not want to be on the market this fall. Why?  Several reasons.  First, the market is continuing to decline which means the house they are trying to sell is worth less each month.  Second, winter is not, historically, the most ideal time to sell. Its just slower.  Moving over the holidays is not popular. Third, banks that have a traditional year end of December 31st have to start thinking hard about what non-performing assets (in other words, foreclosures & REOS that don't make them money but cost them money and tie up their funds that could otherwise be making money) are going to be on their "books" at year end.  The less "on the books" the better.  Most have stockholders to answer to--and stockholders don't like ugly books.

So, combine all this info , I say "Shoppers, its sale season!" 

If you would like additional information on buying short sales or foreclosures or selling your home as a short sale, just let me know.

Melinda

PS If you are a seller with a short sale, its a great time to remind your agent to remind your bank of the above and "motivate" them to cooperate with you!