Two of the nicest tracts in Woodbridge Irvine are Landing I and Landing II, and these consist of only Single Family Residence detached homes. Both tracks are "inside the Loop" and a wonderful community spirit exists.  Most homes are beautifully decorated for the holidays.Don't expect to see many homes in "The Landings" on the market for sale. Usually when one is offered for sale, it is snapped up pretty fast!In 2009 only 5 homes sold, (that's in Landings I and II combined), and only 5 homes were sold in 2008 too.I sold 4-bedroom 25 Whispering Wind, (in Landing I), a few months ago for $995,000. One other Landing I home sold in 2009 and this was 4 Earlymorn which sold for $1,055,000.These 4-bedroom Landing II homes sold in 2009:11 Laurelglen $825,000.59 Emerald $870,000.46 Emerald $1,150... 12/30/2009

Year to date, 160 attached & 64 detached Woodbridge homes have sold, making a total of 224 closed sales for the year so far.The average selling price of the attached homes was $443,100. The average Days on Market was 57.1 days. Look at the breakdown below: Time on Market UNITS 1-30 Days 101  31-60 Days 52  61-90 Days 28  91-120 Days 14  121-180 Days 13  More than 180 Days 13  Total Units Sold 224      Only 4 homes sold at over $1 million, and none were over $2 million.Only 42 Woodbridge homes are active, (offered for sale), right now.     12/29/2009

Mike Linkenauger wrote a blog in which he tried to convince the audience that short sale option contracts are a scam and that home owners should avoid the investors who approach them in this manner. Along with his blog, there have been a few more blogs that I have come across by agents who are ignorant on short sales or even those "certified" short sale agents who are baffled and confused about short sale flips. The purpose of this blog is to point out that short sale flips can be ethical and legal if done right. That when approached with an opportunity to help home owners, real estate investors and agents should look at the process or system in place and seek independent review to determine whether it is legal and/or ethical to move forward. Homeowners - When it comes to Irvine Short S... 12/22/2009

Woodbridge is a community of about 9,500 homes, with an adult population of about 30,000 people, and is known as being a model planned community.It encompasses 1,700 acres and features approximately 40 parks and pools, two "landmark" lakes and swimming lagoons, two beach clubs (with boat docks), 24 tennis courts, plus many other recreational amenities for use by the residents. The excellent Woodbridge schools are a big reason people move here. See all Woodbridge homes for LEASE here, and all Woodbridge homes for SALE here.  Woodbridge is always being kept in great condition, and quite a few facilities have been renovated during the past year.Recently the pool decks of Stonecreek, Blue Lake, Woodflower & Smokestone were resurfaced.The lakes have just been stocked with fish, so if you don... 12/20/2009

On December 16 FHA came out with Mortgagee Letter 09-52, which provides guidance to lenders in how to deal with borrowers who have had a Short Sale and borrowers who are refinancing a "short payoff". This has been occuring quite a bit in Orange County, along with the rest of southern California.What is a Short Sale? What is a Short Payoff Refi?Short sales have been all the rage in 2009 but FHA has not been very clear on how they would deal with a borrower who had sold their home through a Short Sale. A Short Sale is where a property is sold for less than what is owed on the mortgage, thus creating a loss for the lender. A Short Payoff Refinance is where the lender "writes down" the principal on a loan in order to allow the homeowner to refinance.Will FHA Finance a Borrower Who has had a... 12/19/2009

Do you know that there are more homes for LEASE in Woodbridge, Irvine, than there are for SALE?  48 Woodbridge homes are for SALE, (including two-bedroom #3 Whitecloud),  and 57 homes are for LEASE, (check out two-bedroom #615 Springbrook North).  23 Woodbridge homes SOLD last month, and 23 were LEASED.  Interesting.... 12/13/2009

When buying a condo in Orange County, it is important to understand the insurance requirements. Whether the loan will be FHA, VA USDA, Fannie Mae or Freddie Mac, the lender will need to make sure the property is insured beyond the typical "exterior" insurance policy most Home Owners Association's cover.What is a "Walls-In", or "HO-6" Insurance Policy?A Walls-In policy will cover the interior of the condo. In insurance lingo, the Walls-In policy is referred to as the HO-6, or Interior Insurance Policy. While most people have known that a condo Master Policy is required, few people have understood the interior policy requirements. Over the past year, as lenders have dealt with tightening guidelines, the condo insurance guidelines have become more spelled out. Because there is a high conce... 12/12/2009

For those of you who missed out taking a picture with UCI's Peter the Santa Anteater this past Wednesday, December 3rd from 11:00 a.m. - 2:00 p.m. at the U.C. Irvine Bookstore, here's a question for you: Now we know that if you've been a good girl or boy all year long, then Santa will leave goodies in your Christmas stocking, right. However, if you've been a bad girl or boy, then it's coal in your stocking...uh oh!  :-(         Well, if Peter the Santa Anteater's favs are ants---lots of them, my question is this: If you wake up Christmas morning and find ants in your stocking, have you been good or bad? Hmmmmm........ GO 'EATERS! And may all you U.C.I. students have a straight "A" Holiday! (And no ants in your pants ;)   12/08/2009

The highest priced home that sold in Woodbridge in November was 11 Laurelglen. After being bought at an auction in July for $690, this 4-bedroom, 2,334 Sq Ft SFR was flipped & recorded early last month, for $825K.The lowest priced home to sell last month was a 1 bedroom 715 Sq Ft bank-owned condo which fetched $225K.Altogether, 23 homes sold in November, and 47 are presently for sale, (active), so there's only two month's inventory of Woodbridge homes right now.The Woodbridge homes for sale range in price from $299K to $1.4 million. The smallest home is 917 Sq Ft, and the largest is 3,400 Sq Ft. See these homes at www.WoodbridgeCondo.com.The average Days on Market for these homes are 69 days, and the highest is 524 days, (not a typo). The price was reduced 3.5% after 206 days, another ... 12/06/2009

http://www.ustream.tv/recorded/2694020 What is a real estate IRA? "Real estate IRA" is a term used to describe a real estate investment(s) in a self-directed IRA or 401(k). With a real estate IRA, you can earn tax-free/tax-deferred returns on your real estate investments. What types of real estate IRA investments are allowed? The following is a partial list: •Raw land •Single-family homes •Commercial property •Apartments •Duplexes •Condos/townhomes •Mobile homes •Real estate notes •Second mortgages •Partial notes •Real estate purchase options •Tax liens certificates http://www.ustream.tv/recorded/2694020 For more information - 714-460-5505 12/02/2009

Learn how realtors can use self-directed IRAs to help their clients purchase investment property. Kaaren Hall, President of uDirect IRA Services discusses how to use this powerful investment tool. Your IRA can purchase Real Estate. You've been able to use your IRA in this manner for over 30 years but few know the ins and outs. Listen to this informative event and learn how you can help your clients to purchase investment property with their retirement funds. To sign up: http://www.ustream.tv/channel/americor PASSWORD: udirect www.uDirectIRA.com 11/24/2009

Irvine Real Estate is HOT!  Corona del Mar Properties along with Collins Commercial has a new listing available. If you are in the market to purchase Irvine Commercial Real Estate then you have found what you are looking for!  This property is well maintained with over 1 Million in upgrades!   As you walk through the front doors your eyes will be captured by the beautiful and modern designs.  Your eyes will be satisfied with every sight.  Your ears will be soothed by the many ponds and your feet will thank you as you gracefully walk along pebble tech flooring.  No need to bring your lunch to work a full chefs kitchen is at the palm of your hands. After you eat lunch you can work out in the fitness room or relax in the media room.  Your new office building is going to be your home away f... 11/05/2009

Pre-tax or after-tax? That is the question? I'm not a tax professional (I'm a Third Party Administrator for self-directed IRAs). So, check with a tax professional to verify... with that disclaimer out of the way I'll say that income taxes are on sale next year. I mean a red hot fire sale! In 2010 there's something called TIPRA, the Tax Increase Prevention and Reconciliation Act. So why should you care? With TIPRA you can CONVERT pre-tax IRA money to Roth money REGARDLESS OF INCOME. Note I say "convert" and not "contribute". The income limits still apply for contributing to a Roth IRA, but you can convert to Roth no matter how much you earn. That's great by itself but the feds are giving us another perk here. When you convert pre-tax to after-tax retirement money you have to pay the tax ... 11/03/2009

If you could ask any question about how to self-direct your retirement savings, what would it be? Go to this website: http://www.justaskkaaren.com/ Ask your question then join us for a live 60-minute LIVE, Teleseminar Interview by expert business coach Larry Gassin to hear your questions answered. Date: Monday Nov 9th Time: 4:00pm PST Cut & paste this link in your browser to ask your question - http://www.justaskkaaren.com/ 11/02/2009

There are less short sales & REOs on the market today compared with a week ago, (when there were 16). The number of short-sales in "backup offers" status is now 26. Of the 50 active Woodbridge listings, 10 are short sales & 2 are REOs. The list-prices range from $320,000 for a 1,000 square foot, 2-bedroom short-sale condo, to $1,399,000 for a 3,400 square foot lake-view 4-bedroom SFR. 26 Woodbridge homes sold in October, and these prices ranged from $281,000 for a 917 square foot 2 bedroom, 2 bath condo, to $1,130,000 for a 3,495 square foot 5 bedroom, 4 bath SFR. Of the sold homes, less than 20% had special conditions, (1 was a short sale, 4 were REO's). The others were all standard sales. Let's see how many short sales close in November..... 11/01/2009

38 of the 57 Woodbridge homes currently on the market for sale, (or two thirds of all properties), are standard sales. The other listings are short sales, (16 homes), and REOs, (3 homes). As far as Woodbridge lease listings go, right now there are 72 available. These range in price from $1,275 per month for a 1-bedroom condo, to $3,800 per month for a 4-bedroom SFR. My beautiful 5-bedroom listing at 1 White Birch has just been reduced in price to $2,950 per month. It's on hold for a couple of days while the handyman & painter do their stuff. 10/25/2009

Orange County, CA condo buyers using FHA financing just got an extra month added to the upcoming deadline of the end of the Spot Approval program. Back on June 12, 2009, FHA Mortgagee Letter 2009-19 was released, detailing new FHA Condo project approval guidelines, and setting a date for the end of the Spot Approval program along with elimination of nearly all condo project approvals in Orange County.New Deadline for Spot Approval Program is December 7, 2009Initially, the deadline was to be October 1, 2009. Then, with a push from the National Association of Realtors, FHA relented and decided to delay implementation of the new policy until November 3. Now, the deadline has been delayed again until December 7, 2009.What Will Happen When, Or if This New Policy Goes Into Effect?FHA financin... 10/24/2009

RE/MAX Homes & Estates Pre-Foreclosure Division  (714) 588 -7676 ∙  www.orangecountyshortsalerealtor.com   If you are in a situation where: • You lost your job • Your Medical Expenses are too high • Just went through/going through a divorce • You are behind on your payments • You have no equity • You can't afford the cost of selling your home • Your income has been reduced • You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale: • Avoid Foreclosure • Avoid Bankruptcy • Reduced damage to your credit • Postpone your foreclosure sale date • A short sale will stay on your credit approx 3 years • BE FREE of financial and emotional burd... 10/20/2009

In the Orange County Register today there was an article about the Irvine Company being optimistic about the economy so much so that they are going to bankroll 685 construction units.  While defaults are still mounting Jobless rates are still high the Irvine Company is still optimistic.  Yet housing starts are at a record low, while new homes sales have dropped in 37 of the past 38 months the Irvine Company is still optimistic. On Monday they are unveiling the 2010 New Home Collection,a project that will put 6 home building companies back to work.  You can see the new home models are beginning to sprout up.  They believe the recovery is underway and that they will come out of the gate strong.  They believe that the consumer is looking for homes while the prices are low. The six builders... 10/18/2009

LISTING AGENTS BEWARE! THE FHA BUYER PURCHASE TRICK!   This also could be titled "How to secure a home for a FHA buyer!". This blog is about housing markets where competition among starter and low end homes is fierce. So there is a property that is listed at 390k. Low end comps at 380k and high end comps at 400k. The FHA buyer's agent makes an offer for 410k! Wow, that is just great and your clients get excited. Ignoring the lower offers that the conventional and cash strong buyers gave, you enter into contract with this FHA buyer as it will net your clients more....or NOT! Guess what, the appraisal comes back at 395k. The FHA buyers do not have more than the 3.5% needed to get the loan. So they re-negotiate the purchase contract at some number (usually appraisal price) and proceed to c... 10/07/2009