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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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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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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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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Boo!!! - Is the End of 2009 Going to Be Scary???

This chart shows the US unemployment rate for the last 30 years. It is good to look at a larger span of history since a cursory glance at year-over-year since 2000 would be scary. But looking at the "bigger picture," we see that we're actually in a normal cyclical pattern of job loss and jobs gained. Interestingly, the peaks for unemployment were 1983, 1993 and 2003...ever 10 years, on the money. We see dips in the unemployment (job gains) in between those horrible peaks. Now in 2009, we're seeing a peak coming that is earlier than the normal 10 year pattern. So, comments are welcome as to why that may be and where you think we're headed from here. However, knowing that there are dips and valleys and peaks and mountains gives us more of a broader paint brush stroke over the whole of U.S. unemployment. In the days of FDR, the government stepped in and created jobs for Americans. It's hard to say if that will happen again or if it really needs to happen, but what the government is doing is trying to help Americans stay in their homes by keeping the interest rates low, imposing 3 month moratoriums for possible refi/loan mods. It's one thing to lose your job. It's another thing to lose your job and your home.

MOUNT EVEREST & DEATH VALLEY

The chart to your left shows U.S. Consumer Confidence over the last 30 years. As you can see, we are now in a sharp dip, the lowest in the last 30 years. The latest results from the Conference Board Consumer Index shows that consumer confidence for the month of October is down from August and September. This looks like bad news heading into the Christmas shopping season. However, the reading for October is just under 50. To give you an idea of what that means...at the beginning of 2008, the reading showed 87.9. In the first and second quarters of 2007, the reading was well over 100. The whole YEAR of 2006 saw readings over 100 points. March of 2003 showed the lowest reading in recent history with 61.4 points. The year 2000 was the peak of consumer confidence...and I mean Mount Everest! Every month in 2000 was over 128 points with highs of 144.7 in January and May of 2000. We are now back down to early 1990 levels. 1991 and 1992 showed very, very low levels of confidence taking a dramatic drop in the middle of 1990 and not really recovering until 1994. The Consumer Confidence Index is a huge factor when evaluating our present economical situation. If Americans aren't spending, businesses suffer. When businesses suffer, American lose jobs. It's just that simple. We are presently in a "Death Valley" of consumer confidence - which makes perfect sense. The unemployment rate is through the roof, several of the homes sampled for this data were those of unemployed people or people who had lost their jobs, especially since people who tend to respond to long surveys usually are those who have a ton of time on their hands, like maybe they don't have a job. Needless to say, people who don't have a job aren't going crazy this Christmas. The economy will continue to see a slump and until the blood-letting is slowed down, we won't see a shift in the overall U.S. economy for some time.

Is this a dismal outlook? Well, it's realistic, but I wouldn't say dismal. I believe that we'll see a slump that will last a few more years and then a rebound of consumer confidence that will hit the 90s and even into the 100 marks by 2012. We are seeing a wake up call for Americans. No more pulling equity out of your home to finance vacations and toys, no more pulling equity from a home that could possibly decrease in value in the future. No more getting buried in credit card debt to our shoulders. Americans will be more cautious in the future because many have learned their lesson the hard way. It's a bitter pill to swallow, but at least America will see a return to saving and conservatism financially. Maybe we'll see that 0.5% national rate for saved income go up to 5% or 10%. Maybe we'll see our country crawl and climb and scratch its way out of debt. Only time will tell.

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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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SELLING YOUR HOME WITH VIRTUAL TOURS & FLOOR PLANS

WELCOME TO THE FUTURE OF REAL ESTATE: VIRTUAL HOME TOURS

NIC PETROSSI (714) 272-3646

WHY ARE VIRTUAL TOURS AWESOME?

1. Since it's as easy as a "click" to see the inside of your home, more Potential Buyers are inclined to see your home creating greater exposure.
2. It's like an OPEN HOUSE, but online.
3. It enables a niche of ultra-busy potential buyers the opportunity to view the selling features of your home without leaving the comfort of their own home.

According to the official Alta Vista South HOA website, Alta Vista South is comprised of 214 upscale single family homes. Among other things, the community website offers a calender of community events, information regarding the property management company (South Coast Property Management in Costa Mesa), and the CC&R’s, By-Laws, and other legal documents available for download.

The Alta Vista South Homeowner’s Association is made up of 5 tracts of homes: HQT, Bel Maison, William Lyon Homes, Biscayne, and Highpoint. Below is a list of each tract with general spec’s for each floor plan. Actual floor plans are available upon request by contacting Nic Petrossi at (714) 272-3646 or email npetrossi@yahoo.com

NIC PETROSSI, Prudential California Realty (714) 272-3646

Bel Maison

• Plan One 4 Beds 3 Baths 2,698 SF 2 Car Garage
• Plan Two 5 Beds 3 Baths 2,628 SF 3 Car Garage
• Plan Three 5 Beds 4 Baths 2,901 SF 3 Car Garage
• Plan Four 5 Beds 3 Baths 3,192 SF 3 Car Garage

Bel Maison architecture is unique in that the builder Saddleback Pacific Homes, incorporated French Chateau elements. Passers-by will often refer to these homes as the “Castle Homes” due several of the homes having a castle-like cylindrical turret and stone edifice.

Streets in Bel Maison are: Underhill, Dickinson, Brady, Lowe, Newman, Hunt, and Olson. (Named after Placentia City Council members around the time of construction).

Lyon Homes

• Residence One 4 Beds 3 Baths 2,533 SF 3 Car Garage
• Residence One (1) 4 Beds 3 Baths 2,613 SF 2 Car Garage
• Residence One (2) 4 Beds 3 Baths 2,693 SF 2 Car Garage
• Residence Two 4 Beds 3 Baths 2,775 SF 3 Car Garage
• Residence Two (alt) 4 Beds 3 Baths 2,949 SF 2 Car Garage
• Residence Three 5 Beds 3 Baths 3,002 SF 3 Car Garage
• Residence Three (1) 6 Beds 3 Baths 3,200 SF 3 Car Garage
• Residence Three (2) 6 Beds 3 Baths 3,354 SF 2 Car Garage

Summarily, the difference in square footage between a Residence Two and a Residence Two (alt) for example, is due to either the absence or presence of a 3 Car Tandem garage. The area used for the 3rd car is optional and if the home does NOT have the tandem, it will have more square footage.

Streets in Lyon Homes: Torrey Pines, Quail Run, Augusta, and Spyglass.

HQT Homes

• Residence One 3 Beds 2.5 Baths 3,233 SF 3 Car Garage
• Residence One (alt) 4 Beds 2.5 Baths 2,408 SF 2 Car Garage
• Residence Two 4 Beds 3 Baths 2,266 SF 3 Car Garage
• Residence Two (alt) 4 Beds 3 Baths 2,366 SF 2 Car Garage
• Residence Three 5 Beds 3 Baths 2,448 SF 3 Car Garage

Streets for HQT Homes: Bay Hill, Pebble Beach, Doral, and Firestone.

HighPoint

• Plan One 4 Beds 3.5 Baths 2,693 SF 3 Car Garage
• Plan One (alt) 5 Beds 4.0 Baths 2,851 SF 2 Car Garage
• Plan Two 4 Beds 4.0 Baths 2,917 SF 3 Car Garage
• Plan Two (alt) 5 Beds 4.0 Baths 3,087 SF 2 Car Garage
• Plan Three 4 Beds 3.0 Baths 3,081 SF 3 Car Garage
• Plan Three (alt) 5 Beds 3.0 Baths 3,201 SF 3 Car Garage

Streets for HighPoint: Maertzweiler, Black, Melia, Little, Soto

Biscayne

Unfortunately, the floor plans are not available at this time for the Biscayne models. Streets are Cline, Faley, Thomann, Atchley, Robertson, Snow, Kemp, Black, and Maertzweiler. (Parts of Black and Maertzweiler shared with HighPoint).

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