3 WAYS TO SELL BEFORE SPRING - BEAT THE RUSH!!!

As we all know, most people are putting their homes on the market in the Spring and Summer.  This is typical, because people don't want to disrupt their kids' schooling and it's better to make the move when the kids are out of school. 

The problem with waiting until Spring or Summer is that you are competing with SO many other home owners who are doing the same thing.  And, if my real estate math is correct  LOTS OF HOMES = PICKY BUYERS + COMPETITION.  Why be part of all that?  Right now, we still have a shortage of nice properties for tons of buyers who are smart enough to take advantage of the low interest rates and bottomed out market. 

So, Nic, how do I do that if I have three kids in school?

  Put your home on the market now.  It should take anywhere from 1 week to 2 months to get a good offer.  If it happens too fast (like in 1 week), then here are a couple of options:

    1.  Counter back the buyers with a longer escrow.  Instead of the typical 30 days, ask for 60 days...or longer.  If they really want the home, they'll wait.  I personally don't like longer escrows because so much can go wrong and it gives the buyer time to see other options out there.  However, in order to beat the "rush" or "flood" of homes that will come on the market in Spring and Summer, this may be the only way to get the home under contract and still be able to extend it out until the kids are out of school.

  2.  Even better, ask for a "Lease Back."  This is where you stay in your home AFTER it has closed escrow and pay the new owner rent until a specified time that you have to be out.  This is a good scenario when there is a Buyer who really doesn't care if they get in the home in 30 days or in 4 months.  A Lease Back is a short-term lease and is easily taken care of through the use of a C.A.R. form. 

If Plan 1 or Plan 2 don't work, then the only other way to sell now would be to move to a temporary location (like Residence Inn), have the money in the bank and be looking.  You'll be in good position, non-contingent and ready to go. 

For more information on Placentia Homes, Yorba Linda Homes, Brea Homes, Fullerton Homes, Orange Homes, or Anaheim Hills homes, visit http://www.nicpetrossi.com/

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2012 - BEST YEAR IN LAST FIVE YEARS TO BUY

#1   Home prices have finally bottomed out.  The "shadow inventory" that everyone talks about is largely in the East Coast, New York, those states.  We have gone through most of the "shadow inventory" already in Orange County.  We are now through the worst of it.  YES!!!

#2  Interest Rates.  Interest rates are a hedge against inflation.  Inflation is coming, higher prices for food, gas, everything.  Interest rates WILL go up (they have to) as a counter against inflation.  Right now, I've heard of rates as low as 3 3/4 % for 30 years fixed.  WHAT?!?!  Lowest in 100 years? 

#3  As a return on investment, where can you find a solid 5% to 10% return on an asset that is tangible and can be used for tax write-offs? 

#4  MOST people who bought during the crazy "gold rush" days of the housing boom, bought in 2005 and 2006, when it was too late.  These people are now possibly looking at short selling their home.  The people who bought in 2000 through 2004 are in pretty good shape.  People are STILL waiting for home values to drop and won't buy until their friend buys.  You will never get a good deal if you jump on the "band wagon" in 2013. 

#5   There are still great deals to be had.  Yes, there are good deals on standard/regular sales.  Yes, there are good deals on Bank Owned/REO's in Placentia, Yorba Linda, Brea, Fullerton, etc.  But there are short sales that are going through and sometimes, they are going for CHEAP.  Investment opportunities abound.  Maybe not as far as "flipping" goes, but as far as picking up rentals, holding onto them for positive cash flow and then having an asset to liquidate in the future.

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Nic Petrossi and Prudential Fine Homes International proudly present 1111 Melia Place, a Placentia HQT Luxury Home

Placentia Homes and Real Estate for Sale with Placentia Realtor Nic Petrossi, Nic also sells Yorba Linda Homes, Brea Homes, Fullerton Homes, Anaheim Hills Homes and all of Orange County Homes!

Placentia Homes1111 Melia

I am extremely excited to showcase my newest listing - 1111 Melia Place, a Unique and Extremely Upgraded Estate in the distinguished Alta Vista golf course community. Over $550,000 worth of carefully planned upgrades. One of very few HQT Placentia homes in tract that has private pool & spa. Pie-shaped lot on end of cul-de-sac is one of 3 largest in tract, with over $200,000 worth of upgrades in tropical entertainer's delight backyard alone w/ massive s.y. Expansive backyard w/ colored stamped hardscape, salt water stack stone pool, tiered double level spa, water features, 30+ lights and sconces for night-time entertaining, mature queen palms, and a Jandy Aqualink system to control it all from inside! Crown moulding in every room, wrought iron and granite seemingly everywhere. Elegant formal dining with wrought iron chandalier and granite-accented butler's pantry. High-End Moen fixtures, Surround Sound, 18' Porcelain Tile, soaring vaulted ceiling, wrought iron bannister & travertine stairs. Owners have had over 100 guests comfortably, absolute entertainer's dream.  Incredible property - too many upgrades to mention!!!

Visit my Facebook page to communicate with me and find my latest listings!  ---->  Nic's Facebook

                  FOR MORE PHOTOS....VISIT http://www.nicsellmyhome.com/ AND CLICK ON NIC'S LISTINGS TO FIND MELIA.

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Interest Rates Update 6/28/2010

Conventional Rates:
Loan Amounts from $100,000 to $625,500 depending on County Loan Limits

30 Year FIXED @ 4.500%
30 Year FIXED @ 4.750% "Stimulus Pricing for Loan Amounts from $417,001 to $625,500"
20 Year FIXED @ 4.500%
15 Year FIXED @ 4.000%
10 Year FIXED @ 4.000%
5 Year ARM @ 3.750%



JUMBO Rates:
Loan Amounts from $417,001 to $2,000,000

30 Year FIXED @ 6.000%
5 Year ARM @ 5.000%



FHA & VA Rates:
Loan Amounts from $100,000 to $625,500 depending on County Loan Limits

30 Year FIXED @ 4.500%
30 Year FIXED @ 4.750% "Stimulus Pricing for Loan Amounts from $417,001 to $625,500"
30 Year FIXED @ 5.000% "Streamline Refinance"
5 Year ARM @ 3.750%

KEEP IN MIND....THESE RATES ARE FOR "A" PAPER CREDIT...WHICH SOME LENDERS SAY IS 720 AND ABOVE, FOR LOWER CREDIT, RATES MAY BE HIGHER.

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HAFA Coming April 5th, Must Use Local Realtor for Short Sale

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Nic Petrossi & Prudential Real Estate Listing Video

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Nic Petrossi, Virtual Tour of 904 Spyglass Place in Alta Vista South

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Click Link Below for Nic Petrossi's YouTube Channel

http://www.youtube.com/user/npetrossi#p/u/5/5JzNZO1mSDk

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Placentia Homes Update: Market Update

The following is a Market Update as of 11/12/09 for the city of Placentia:

• # of Active Listings: 83
• # of Homes in Escrow: 103
• # of Closed Sales last 30 Days: 38
• # of Condos currently for sale: 18
• # of Single Family Homes currently for sale: 65
• LP/SP (List Price to Sold Price) ratio for October: 99.95%

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ORANGE COUNTY HOME PRICES ON THE RISE

DATAQUICK REPORTS FIRST YEAR-OVER-YEAR GAIN FOR O.C. SINCE 2007

According to the Los Angeles Times in an article in Business Section on Oct. 14,2009 Orange County home values have seen the first year-over-year gain since 2007. From $425,000 in September of 2008 to $429,000 in September of 2009. The article cites tax breaks, low interest rates, and pent-up demand as the factors creating a stabilization of home prices in Orange County. One economist said, that if prices DO fall again, it won't be more than 15% max.

Are the foreclosures going to continue to pull down home values?

Although Orange Countians will continue to go into default on their mortgages, the number of foreclosurs has declined DRAMATICALLY since the same month last year. ForeclosureRadar, an online source for NOD data, reports foreclosures are down 42% from the same month last year. The decrease in bank repos has led to a reduction in inventory, which has tipped the scales in favor of demand over supply. The inventory for homes, especially in the middle-to-upper price ranges has been steadily declining. Overall, there is just less out there for picky buyers to choose from. Several agents in my office at Prudential California Realty in Brea are reporting multiple offers (sometimes in excess of 20 offers) on properties in the lower price ranges (under $500K). What does this mean? A stabilization of the lower end market. History tells us that the stabilization will creep up into the middle ranges and eventually even the luxury homes.

Click on PLAY button below to see an example of a VIRTUAL TOUR, cutting edge real estate from NIC PETROSSI in an Internet Age.

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Alta Vista South Placentia: Schools and Boundary Maps

The following are the elementary, junior high, and high schools for the Alta Vista South neighborhood homes. School boundary maps can be found at my WEBSITE through the “School Boundaries” link, or click here —–> Placentia Yorba Linda School Boundaries.

Elementary: Tynes

Junior High: Kraemer (Kraemer is technically a “Middle School” with Grades 6 through 8)

High School: Valencia

Tynes API score is 7; raw score is 805 out a possible 1000, which means the school performed better than at leat 70% of other elementary schools statewide. For a detailed Academic Accountablity Report for Tynes, click here —–> REPORT Although this blog was posted August 31, 2009, the latest scores available are from 2007. School performance may have increased or decreased since 2007.

Kraemer API score is a 6; raw score is 749 out a possible 1000, meaning the school performed better than at least 60% of other elementary schools statewide. For a detailed Academic Accountability Report for Kraemer, click here —> REPORT Results of this report are from 2007. School academic performance may have increased or decreased since then.

Valencia API score is 758 out a possible 1000. Valencia’s school accountability report is very difficult to find on the school website. However, the school is not hiding anything: it is one of the top high schools in Orange County with its highly acclaimed International Baccalaureate Program, VAL-Tech Program for rigorous technology training, and Honor Society. Valencia High School has an energetic, enthusiastic teaching staff, committed to promoting excellence and student achievement. (Having a daughter of my own attending Valencia, I am impressed by the pride and commitment to excellence embodied in its staff).

Looking to sell YOUR home??? Call NIC PETROSSI at (714) 272-3646 or email: npetrossi@yahoo.com

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