tag:blogger.com,1999:blog-15718091926600923622011-04-21T19:23:11.804-07:00Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.comBlogger171100tag:blogger.com,1999:blog-1571809192660092362.post-41883428299125863812008-06-28T08:52:00.000-07:002008-06-28T08:53:17.172-07:00

The following information reflects real estate activity in Orange County, as reported in the SoCal MLS 06/27/2008:OC sales reported to the MLS in the past week were over 1000 for the 7th consecutive week, compared to 671 for the same week last year. Inventory is at its lowest level since the end of February. Inventory typically rises through spring and summer, then peaks in late summer and early

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-47550073505564003522008-06-11T19:05:00.000-07:002008-06-11T19:20:43.916-07:00

There is still time to get your ticket for Irvine's 5th Annual Public Schools Foundation House Raffle! Some of the drawings are over and early prizes have been awarded. Still time to win the house! Final day to enter is July 25th and drawing will be on August 9th. Visit http://ipsf.net/ to find out more! This years home is in the Cortile track in Woodbury. Good Luck!

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-28062974462856575052008-05-20T12:49:00.000-07:002008-05-20T13:16:08.643-07:00

This past week the number of sales reported to the MLS was the most since we have been keeping track in Dec of 2005. Inventory is holding steady and has been practically unchanged since mid-March. The number of weeks required to sell the existing inventory at the current rate of sales is the lowest that it has been since April of 2007, when the market was not yet affected by the sub-prime

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-74261538973001272872008-04-26T16:40:00.000-07:002008-04-26T16:45:55.620-07:00

I heard this on the radio today and was struck by how true it is! It is a good time to buy but only if you buy now! So many home buyers are waiting for the other shoe to drop but while they wait many home buyers are out purchasing homes. Inventory is going down and in some neighborhoods has dwindled significantly. Not all neighborhoods have short sales and bank owned properties. Many do, but not

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-74603483457901600462008-04-07T11:57:00.000-07:002008-04-07T11:58:55.514-07:00

Recent market reports are starting to indicate improved home sales in The OC. Demand has slowly improved as value has crept back into the market. The conditions are perfect to purchase now and into the future with motivated sellers, surplus inventory of homes, low interest rates, and new loan programs available now. Bank owned properties and foreclosure are not going away anytime soon. In real

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-51454192107011294222008-03-27T19:17:00.000-07:002008-03-27T19:19:13.608-07:00

Lending standards have been changing and if you are thinking about purchasing your first home you should obtain loan qualification for your mortgage before you start looking. Greater down payments are now required and better credit scores. No more “stated income” or “stated assets” so be prepared to prove what you have and what you earn! The new FHA soft jumbo loan could be a good alternative but

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-61310327177379396662008-02-15T16:24:00.000-08:002008-02-15T16:25:48.858-08:00

The ecomomic stimulus package includes a vital, but temporary, increase in the conforming loan limit. This will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac, to offer mortgages above the current conforming loan limit of $417,000 to as much as $729,750 in high-cost areas using a formula that considers an area’s median home price. A host of details remain to be

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-38077726661416230882008-02-07T17:52:00.000-08:002008-02-07T17:58:39.012-08:00

With a few minor changes from the Senate we are on our way! The bill should be ratified by the House of Representatives soon and could possibly be on the Presidents desk as early as tomorrow. He is expected to sign it without any delays. Watch for news!The changes to our loan limits could be extremely helpful to homeowners who are trying to refinance their homes. A huge benefit would also be for

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-88027046144450346522007-12-30T07:26:00.000-08:002007-12-30T07:49:19.287-08:00

Best advice for would-be sellers: Don't Sell! Ride this out if possible, because values will stabilize again. If your current circumstances dictate otherwise, then you'll have to ramp up your marketing plan a notch to adjust to the times. If you must sell in this market go the extra mile! All the basic advice applies such as cleaning and decluttering your home. But take it further by painting

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-49095651413394530302007-12-16T09:37:00.000-08:002007-12-16T09:41:22.392-08:00

December is a great time to purchase your new home!Real Estate has always been seasonal! Market corrections may come and go but seasons have always dictated patterns. Spring is typically the heaviest sales period followed by summer. Some sellers are averse to having their homes on the market over the holiday season preferring to wait until spring when the market is typically known to be more in

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-15847313531520586882007-12-11T16:13:00.000-08:002007-12-11T16:21:17.892-08:00

Well the verdict is finally inl Feds reduced this time by .25%! We were hoping for more but at least we are moving in the right direction. The good news is President Bush's new plan to help out home owners with adjustable mortgages that are resetting. Actually a roll back to teaser rates for any loans taken out from January 2005 and set to reset from January 2007 forward. Some folks say "what's

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-62307164083576398122007-09-26T16:16:00.000-07:002007-09-26T16:32:31.726-07:00

After attending several classes on the ins and outs of short sale home sales I have determined there is much information that anyone considering a short sale on their home needs to know. First, be aware that your loan holder is looking to document your "hardship" Think of it as a loan application in reverse. They will want to verify everything including your current assets and tax filings! After

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-7005757749709306232007-09-26T16:02:00.000-07:002007-09-26T16:03:17.227-07:00

The long awaited Fed decision arrived with a bang! The Fed surprised many economists and traders with a half percent cut in both the Fed Funds and Discount Rates. Stocks soared higher and enjoyed their largest gain since 2003.What does the Fed cut mean? Rates on consumer debt, car loans, and Home Equity lines will all benefit. When the Feds funds rate goes down it doesn’t necessarily mean the 30

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-51109320382590602252007-03-23T17:33:00.000-07:002007-03-23T17:36:52.646-07:00

Regional strengths include: 1) Foreign Trade; the nation’s leading port complex. 2) Fast-growing, high-wage professional jobs, including the nation’s leading center for design and architectural jobs. 3) Tourism and entertainment; 350,000 jobs in the fast-growing film, convention and tourism markets. 4) The nation’s largest manufacturing job base. The fact that we are in for sustained economic

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-69653588543959944502007-03-18T12:42:00.000-07:002007-03-18T13:20:19.115-07:00

It will be increasingly difficult to find a 100% financing for your home in the future. Many lenders are already cutting back on these programs and will require at least a 5% down payment investment in your home purchase. There are still no-down home loans available but they could continue to disappear. Subprime lenders who are not under federal regulation will most likely continue to offer the

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-993086771857717362007-03-12T10:45:00.000-07:002007-03-12T10:51:54.413-07:00

Anyone who is waiting for prices to tumble will have a long wait. Many buyers waited for it all of 2006 and were sorely disappointed. It was reported of last year that although we were in a correcting market, we were not in a slumping market. Slowing sales isn’t necessarily a sign of a depressed market, rather it reflects supply and demand. These are two different things. A depressed market

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0tag:blogger.com,1999:blog-1571809192660092362.post-48570949713721859882007-03-06T11:28:00.000-08:002007-03-06T11:32:26.281-08:00

Welcome to my OC real estate blog. Please join me in adding any comments you may have about the Orange County real estate market , Orange County housing. I hope you will visit again!

Mary Burkehttp://www.blogger.com/profile/17223542885134654185noreply@blogger.com0