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Whittier, CA Real Estate News

By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
It Looks Like a Bottom.  Home Prices Increase in February 2009 On April 22, 2009, the Federal Housing Finance Agency issued a Press Release showing that "U.S. home prices rose 0.7 percent on a seasonally-adjusted basis from January to February".  In other words, home prices have gone up for the second month in a row.  Do two months make a trend?  Only time will tell, but there are other indications that the real estate market has made a drastic turn upwards.   The above graph starts at the peak of the housing boom in April 2007, and shows how prices continued downward until December 2008.  The first significant rise in nationwide real estate prices was during the month of January.  The trend continues with another consecutive month of price increases from January to February 2009.  The ...
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By Hector Amendola, Creating Wealth Through Homeownership
(Alterra Home Loans)
From time to time, we all have to ask ourselves what advantages there are to buying over renting. With home prices continuing to go down and rents rivaling those of mortgage payments (including taxes and insurance) its time to visit some of the concerns a first time home buyer would have when buying their first home. Concern #1 - What if the price of the home goes down? This concern is probably on the top of most people's list. Everyone wants to be an expert on everything and you'll hear it from friends, family members and random people like my CPA the other day. The truth is, even the most seasoned Real Estate Professionals cannot predict what will happen in these uneasy economic times. However, one Real Estate agent put it best the other day when she said it doesn't matter what happen...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
Here is a brief report of homes sold in Whittier in March 2009. There were 121 residential properties sold.  The average price was 98.36% of the listing price for all properties. There were 46 bank owned properties sold.  The average bank owned property sold for 101.13% of the listing price. There were 75 properties that were not bank owned, and would include regular sales and short sales.  This group sold at an average price of 96.65% of the listing price. 115 of the sold properties were Single Family Residences. Only six properties sold were condominiums. As of today, April 24, 2009, there are 470 residences for sale in the City of Whittier. 419 of these properties for sale are Single Family Residences. 132 of them are Regular Sales. 55 of the Single Family Residences for sale are ba...
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By Hector Amendola, Creating Wealth Through Homeownership
(Alterra Home Loans)
As the times change so do society's ideas of what is and isn't important. In the housing industry, fico scores were secondary to soaring house values that dominated the decisions being made on home loans. Two years ago, 580 fico scores got you 100% financing or MORE! Today, unless you get really lucky with an FHA loan and deal with the resulting Mortgage Insurance, a 580 doesn't do much for you. Something you might not have to deal with if you could just tweak your score to be enough for those prime rates you hear so much about. As a Mortgage Consultant, we get to see many credit reports and while we all have our ideas of why our score is what it is, here are some tips as to how to get raise that your score.   Review your credit report regularly   As a Home Loan Consultant, we get to se...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
Whittier Real Estate Market Report:  Why There Has Never Been Better Time to Be a First Time Home Buyer Home Prices Increase in January  On March 24, the Federal Housing Finance Agency issued a Press Release showing that "U.S. home prices rose 1.7 percent on a seasonally-adjusted basis from December to January".  In other words, home prices have gone up! The graph above shows how prices have gone down nationwide since April 2007, until January 2009, when prices showed a significant gain.  Are you waiting for the market to bottom out before you buy?  The graph kind of looks like a bottom, but we will have to wait a few more months to really find out if it was the bottom.  If it was the bottom, then you missed it.  If it wasn't the bottom, then you may still find the deal of the century. ...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
If you read my article, Whittier Has A Shortage Of Homes For Sale And A Ton Of Buyers, Resulting In Multiple Offers, then you can see that the Whittier real estate market has changed dramatically over the past year. What has changed in the past three weeks?  Well, the trend for quicker sales and a shrinking inventory of homes for sale is continuing. Every Wednesday, my real estate office goes out on a "caravan" tour of homes for sale in the Whittier area so that the agents can all get a sample of what is available for sale.  In addition to looking at Whittier homes for sale, we also may look at homes for sale in La Mirada, La Habra and La Habra Heights.  Today, we viewed 5 homes, three of which were downright bargains.  One of them, located in La Habra, has over 25 offers on it, after b...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
As I was driving along La Cuarta, going from Friendly Hills to the Michigan Park area in Whittier, I noticed a new Friendly Hills sign.  Apparently, the Friendly Hills association decided it was time to update the signs. Here is what the old signs looked like:   Here is the new sign for Friendly Hills:   The new signs are beautiful, but, call me old fashioned: I prefer the old signs.  _____________________________________________________________________________________________________ About the author: The above Information about Whittier's Friendly Hills was provided by Rob Willis, a locally recognized Realtor®. For Whittier real estate, see this website. Thinking about selling your home?  Go to The Home Sale Site. I help home owners in the following towns in the greater Whittier area:...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
There are buyers out there, trying to navigate the maze of short sales and bank owned properties, when all they really want is to find a nice home they can buy. The inventory of single family residences for sale in Whittier is down drastically from a year ago.  The following chart shows how Whittier had over 9½ months of inventory of homes for sale one year ago.  It was a true Buyers' Market, where there was little competition from other buyers, and you could basically choose which house you wanted to buy without worrying about the competition of multiple offers.  At that time, you had a good chance of coming in lower than the asking price, and getting your offer accepted.  Sellers were more willing to contribute to closing costs in order to entice buyers to purchase the property.   Now...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
Whoo doggies - that is cats and doggies.  That's what it's "actively raining" right now in Whittier.  And the song says, "It never rains in California... It pours, man it pours." Every Wednesday, my real estate office has a caravan of homes on the market, where we get in our cars and collectively see a bunch of houses as a group.  Today, while it was raining, we saw houses for sale in Whittier, La Habra Heights and La Mirada, ranging from a home in La Mirada that needs some TLC (Tender Loving Care), and is priced at $299,900, to an exquisitely gorgeous Friendly Hills home that EVERYBODY loved, priced at $749,900.  Oh my goodness, what a wonderful home that one is!  The view of the back yard from the living room takes your breath away. While I was out in the weather with my buddies from ...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
While previewing bank owned properties in Whittier today, I came across two pretty good deals.  Imagine a Whittier single family residence for under $190,000, that is actually in move-in condition.  There is a nice, small home near Whittier High School, that is listed for less than $185,000.  Of course, it is small.  Technically, it is listed as a one bedroom home, but really has two bedrooms.  Freshly painted on the inside, it has newer carpet in the bedrooms, a neat bathroom and new tile flooring in the living room.  The kitchen is mostly all original, but is clean and in usable condition.  If you don't need a large house, this home may be for you. The second buy of the week is a spacious two bedroom home in a great Whittier neighborhood.  Both bedrooms are quite large, as is the livi...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
The top eight ways to find your home in Whittier are: Search on my website at http://www.southerncalhouses.com.   Create a Listingbook account, where you can do your own searches, just like an agent.  This service is the favorite of all my clients.  Go to http://myhome.listingbook.com. To request a list of Bank Owned Properties to be sent to you in the mail, go to http://www.bankownedreport.com. Call the toll-free number 1-888-695-7510, ext. 551 to request a list of Bank Owned Properties to be sent to you in the mail. Call me direct at (562) 639-9400.  I will be happy to talk with you. Send me an email:  rob@TheHomeSaleSite.com. Sign up for my Free Home Finder Service at:  http://www.whittierwelcomesyou.com/FreeHomefinder.html Come to my open houses.  Just look for my signs. -- Blog End...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
Top 10 Things I Love About Whittier Wednesday evening Family Fair.  Runs March - October. Farmers Market, every Friday, 9:00 a.m. - 2:00 p.m.  Runs March - October. Whittier Area Genealogical Society (WAGS).  If you are a family genealogist, you will love WAGS.  It has regular meetings, as well as day-long annual meetings, all about genealogy.  The next annual meeting will be February 28, 2009, featuring speaker Curt B. Witcher, who will talk about genealogical research in libraries, Census and the Internet. The Rio Hondo College Lifelong Fitness Center.  If you pay for 4 semesters, membership in the Fitness Center is FREE for the rest of your life.  Where else can you get such a deal in a health club membership? Vinatero Wine Shop.  It's like the Whittier version of the local "Cheers" ...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
People have asked me, "Bob, why do they call you the ‘King of Bank Owned Properties'"? Well, you've heard of the King of Pop.  You can call me the King of BOP (Bank Owned Properties).   Other real estate agents in the City of Whittier have started to call me the King because they always see my business card whenever they preview bank owned properties.  I preview more vacant, bank owned houses than any other agent in the City of Whittier.  I am always looking at the filthy, run down, bank foreclosed houses in the search for great deals for my buyers.  Sometimes, I find a diamond in the rough, a house that just needs a little polish to shine.  Sometimes I find a fantastic deal. Nobody sees as many bank owned houses as I do.  Nobody.  There have been challengers who have come and gone.  Af...
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By Kevin Raisch, 247 Agent
(Coldwell Banker Olympic)
New York Times reports home buying is Ideal article from12/06; http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=1&scp=1&sq=It%20maybe%20time%20to%20think%20about%20buying%20a%20home&st=cse
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
A colleague in my office lists REOs on a regular basis.  Yesterday, while driving through my neighborhood, I saw his sign in front of a house that I hadn't seen before.  So, I stopped and called him to get the particulars about the property.  I wanted to know when it would go into the MLS, what the price was, how many bedrooms, and all the other pertinent information.  Well, it sold before he was able to put it on the market in the MLS.  REOs are selling fast in Whittier! Are you interested in buying a bank owned property in Whittier? FREE List of Bank Owned Properties, with Pictures Receive a free computerized printout of Bank Owned properties in the Greater Whittier area, including your choice of the cities of Whittier, La Habra, La Habra Heights, La Mirada, Santa Fe Springs or Norwal...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
REO Report for Whittier California - November 2008 As of today, December 3, 2008, there are 93 bank owned homes for sale in Whittier. There were 37 REOs sold in the month of November, at an average price of $336,521 which is 100.87% of the average asking price.  The chart at the bottom half of the page shows the monthly sales of REO properties in Whittier since the beginning of 2008. What does it mean? Bank owned properties are now selling faster.  The average Days On Market for November was 34 days. Although prices have come down since the beginning of the year, bank owned properties are selling for more than their asking price. Agents in Whittier are seeing multiple offers on bank owned homes that are in good condition.  These "bidding wars" may start to drive prices higher. If you wa...
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By Hector Amendola, Creating Wealth Through Homeownership
(Alterra Home Loans)
Do you have a money jar at home? If you're like me, lately you've been looking for ways to save a buck. Whether you're getting rid of your landline phone, working from home to save gas or eating at home more often it feels good to know you're trying and continuing to save up in case that dreaded economy gets any worse. Today, I've got a way to save money we in the Real Estate industry haven't mentioned in quite a while. Refinance your home.  Last month I closed my first refinance of the quarter and it felt good to help the couple not only pay off some debt but also lower their mortgage payment and feel at ease as the economy continues to trickle down to affect all of us. It made me think, if rates drop just a bit more we should really make a push to inform consumers that this could be a...
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By Hector Amendola, Creating Wealth Through Homeownership
(Alterra Home Loans)
While I used to scoff at the idea of doing FHA loans, especially in my processing days ,  now days, I have to say I enjoy them a bit more. I mean, 3.5% definitely beats 10% for a down payment. Moreover, manual underwriting for a 620 fico score and cash out refinances up to 95% are things conventional can't touch. So why are agents so afraid of FHA financing? If you've recently done an FHA loan or received FHA financing, you probably laugh at the idea that this is a better option. I mean you get scrutinized for every item, you have to explain everything in extreme detail and, as a lender, you long for the days when you could just check a 620 fico score and know the guy would qualify in spite of his foreclosure last year. Fact remains, we're in a completely different lending environment. ...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
Are you tired of searching the Internet for your home?  Wouldn't you like it done for you automatically?  My FREE home finder service takes all the work out of it for you by sending you all the listings of your choice via Email on a daily, weekly or monthly basis. Interested in Whittier real estate? Thinking of buying La Habra real estate?  Wondering about homes for sale in La Mirada? Thinking of moving to La Habra Heights? Looking to move up to Friendly Hills? You can sign up for the FREE Home Finder service at http://www.whittierwelcomesyou.com/FreeHomefinder.html.  It's easy to learn what homes are available with my Home Finder Service.  Every day my Home Finder computers access the Southern California Multiple Listing Service and search through all the information on every home list...
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By Bob Willis, Orange County & L.A. County Real Estate Agent
(Berkshire Hathaway HomeServices California Properties)
Bank Foreclosures in the Greater Whittier area, including the cities of Whittier, La Habra, La Habra Heights, La Mirada, Santa Fe Springs and Norwalk. FREE list of bank owned properties. Receive a free computerized printout. Free list with pictures of bank foreclosure properties. FREE RECORDED MESSAGE: Call (888) 695-7510, Ext. 551 or Go to:  http://www.BankOwnedReport.com  
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