First Time Homebuyer's Tax Credit and Yorba Linda Real Estate First Time Homebuyer's Tax Credit... We Don't Need No Stinking Tax Credit in Yorba Linda! Or Do We? Unless you live on another planet, then you're aware that the First Time Homebuyer's Tax Credit is set to expire on December 1st, 2009. Will they extend it? Will they improve it? Will they let it expire? This issue is getting a lot of press, and not all of it's good. I, like many people, have mixed emotions about whether or not to extend, and possibly expand the tax credit, and I thought it would be prudent to consider the facts, since I tend to be a "just the facts, mam" kinda gal. So, here is what the experts say, what the facts are, and what I think based on this information and my own experience (for what it's worth). This ... 09/24/2009

It's getting more and more difficult to buy a home in Yorba Linda.  The inventory of available homes has declined to the point that any reasonably priced property attracts multiple offers within the first few days on the market.  Home buyers and investors have caught the scent of blood in the air and are looking to take advantage of Yorba Linda foreclosures, short sales and distress sales are surprised to discover they hardly exist long enough to get in an offer. However, these observations regarding Yorba Linda foreclosures and short sales only apply to the lower price ranges.  Higher end homes, in the $800,000 plus price ranges still sit on the market with lower demand.  Meanwhile, the lower price ranges have dipped down to make Yorba Linda affordable for a new wave of first time home... 09/06/2009

Just a few years ago during the "Bigger Fool" era of 2005/2006 ... do-it-yourself investors were picking up condos for $400,000 and renting them for $1,650 a month. We call it the "Bigger Fool" strategy because it only makes sense if some other "Bigger Fool" will pay you more than $400,000 you paid for a bad cash flow deal. But finally, the numbers work in Orange County and its the reason investors are scooping up all the properties, while the first time homebuyer wonders why they can't get a house despite placing 10 full price offers. Here's a great example. The Hills complex of Yorba Linda has about a dozen short sale listings. Despite the headache, short sales are a great option for the patient buyer. The median price for a 2 bedroom condo is $230,000. The median rents for the same c... 08/27/2009

I've come across several buyers who deliberate on whether they should buy a condo/townhome or a traditional single family home (you know, the kind that usually have bigger back yards and are NOT in an association). So what exactly are the pluses and minuses of owning a condo/townhome and owning a single family residence? Condos (which include townhomes as far as the MLS is concerned) are good for the following reasons: Most are "low maintenance," meaning the yards (if it has one) are usually small, less grass to cut, less weeds to pull, less greenery to water, etc.  This is attractive for busy people who don't have time to deal with it and don't need the bigger yard. The HOA (Home Owners Association) is actually a PLUS sometimes.  Let me give you an example: Some HOA's cover the roof of... 08/07/2009

Check out this VIDEO OPEN HOUSE Yorba Linda Luxurious Home in Vista Del Verde Give me a call if you'd like to see this home in person. Jared Tafua Prudential California Realty Direct Line 626 408-2382 or 714 501-8514 Web Open House by Jared Tafua Prudential California Relaty Serving Orange and LA Country 08/03/2009

Below is a list of Kerrigan Ranch homes on the market (listed as an "A" status); homes that are in escrow (listed as a "B" or "P") and homes closed (listed as "C") since 6/1/2009.  Call or email Nic Petrossi with Prudential California Realty (Brea office in Home Depot Shopping Center). Nic Petrossi is your Kerrigan Ranch listing agent AND buyer agent. (714) 272-3646 Direct    (714) 257-3606 Office    www.NicPetrossi.com    npetrossi@yahoo.com Thu, Jul 9, 2009 10:17 AM RES MLS # Status P V H T Q Type A/D Address City Area Zip TGNO Trct/M Bd B t/f Sty Gar SqFt Yr Blt Price DOM   1  P689462  A   11     H  T  Q  SFR  D 19399 Steeplechase Way   YL 85 92886  740D2  YRLH/1  5  6/5  2  4    4,170  2005  $1,250,000  41  *   2  P687763  A   8     H  T  Q  SFR  D 19495 E Shetland Ln   YL 85 92886 ... 07/09/2009

Paula Pelton, sells homes in the Yorba Linda and Anaheim Hills area.  She has several web sites and blogs that I have set up for her to connect with home buyers and sellers.  Here are two of her sites: Yorba Linda Real EstateThis site, located at http://www.PeltonTeam.com has lots of photos of Yorba Linda homes for sale and containes updated information about Yorba Linda real estate. Yorba Linda Homes for SaleThis site, located at http://www.YorbaLindaHomez.com is a site with lots of information for home buyers and sellers looking to buy Yorba Linda homes. Yorba Linda homes have declined in value over the past few years as the market has adjusted to the current economy and the fallout of the sub prime mortgage debacle.  However, prices have recently stabilized and in the lower price ran... 07/04/2009

Below is all Yorba Linda detached single family homes for sale that are NOT bank owned or short sale from $700,000 to $1.2M in 92886 zip code as of June 29, 2009.  Yorba Linda Realtors are trying to keep Yorba Linda Homes from sliding in value. Call Nic Petrossi, Prudential CA Realty  (714) 272-3646  or email at npetrossi@yahoo.com   Residential Mon, Jun 29, 2009 12:13 PM RES MLS # Status P V H T Q Type A/D Address City Area Zip TGNO Trct/M Bd B t/f Sty Gar SqFt Yr Blt Price DOM   1  R903097  A   3     H  T  Q  SFR  D 18202 Heather Way   YL 85 92886  740B5  CUST/A  3  3/2  2  3 A  2,167  1976  $724,000  45  v  2  P605183  A   7     H  T  Q  SFR  D 19001 Sundown Ln   YL 85 92886  740D4  OTHR/0  3  2/1  1  3 A  1,700  1975  $725,000  622  *   3  P676866  A   8     H  T  Q  SFR  D 4144 PEP... 06/29/2009

Below is all Yorba Linda detached single family homes for sale that are NOT bank owned or short sale up to $700,000 in 92886 zip code as of June 29, 2009.  Yorba Linda Realtors are trying to keep Yorba Linda Homes from sliding in value. Call Nic Petrossi, Prudential CA Realty  (714) 272-3646  or email at npetrossi@yahoo.com Residential Mon, Jun 29, 2009 12:10 PM RES MLS # Status P V H T Q Type A/D Address City Area Zip TGNO Trct/M Bd B t/f Sty Gar SqFt Yr Blt Price DOM   1  P692351  A   20     H  T  Q  SFR  D 17372 Coventry Ln   YL 85 92886  739J5  OTHR/-  3  2/2  1  2    1,209  1971  $495,000  13     2  P686619  A   17     H  T  Q  SFR  D 6032 N Kingsbriar Dr   YL 85 92886  740E6  OTHR/+  3  2/1  1  2    1,426  1971  $510,000  53     3  P678636  A   13     H  T  Q  SFR  D 4530 Avenida ... 06/29/2009

Yorba Linda Market Report Summary - May 2009    Average Sale Price - $669,778 (up slightly from $669,225 in July) Selling Price as % of Latest List Price - 96.31% (up from 94.4% in July Selling Price as % of Original List Price - 87.33% ( up from 87.14% in July Average Days on Market - 88 Days ( down from 93 days in July) Total residential properties sold in May - 55 (down from 56 in July) 06/27/2009

RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (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 credi... 06/11/2009

Yorba Linda Homes Placentia Homes Can't Make My Payments What are My Options? There are 5 things you can do when you realize you can no longer make your mortgage payments: Nothing Deed in Lieu (Hand the Title, and keys, back to bank) Short Sale Bankruptcy Loan Modification All of these options will adversely affect your credit.  However, some options ARE better than others. For example, the on the severity scale of how bad your credit will take a hit, on a scale of 1 to 10, an outright foreclosure or bankruptcy is like an 11.  The Deed in Lieu is probably the dumbest thing to do because the bank will let you stay in the home rent free for a while anyhow while you work this all out. A Loan Modification is the best route to take, but you have to know what you're doing.  There are only a h... 06/04/2009

They have been going back and forth on this issue, and now we have some good news for first time homebuyers: On May 29, 2009, HUD announced that the $8000 tax credit for 1st time homebuyers CAN be used to offset down payment and/or closing costs on FHA insured mortgages. "FHA will permit entities covered by Section 528 of the National Housing Act to offer tax credit advances with second liens" was the exact language. In other words, it will work like a "payday" loan. A second mortgage for the $8000 will be used to "advance" the expected $8000 credit to the borrower so they can use it now. So far, we don't know how this will work and we'll have to trust our lending professionals to quickly respond to this terrific news. Nancy Moeller, CPA, Real Estate Broker Seven Gables Real Estate (714... 06/03/2009

These are the first 24 people to join and become fans of NIC PETROSSI REAL ESTATE on FACEBOOK. 1. Sharon Hylton 2. Scott Lees 3. Casey Bodwell 4. Chris Broniste 5. Rhenda Lord 6. Tony Sanmartini 7. Michelle Avila Vanderburg 8. Angela Petrossi Clemmer 9. Devon Hicks 10. Aaron Villarreal 11. Ray Berlanga 12. Joy Hambright 13. Jeff Bouissiere 14. Mitch Kader 15. Steve Filsinger 16. Nicole Tondre 17. Jerrick Ian O'Connor 18. Lara Hana 19. Christian Fambrough 20. Jennifer Richey 21. Pamela Martin Brinnon 22. Joanie Carleone Bevilacqua 23. Jennifer Glenn 24. David Anthony Wilkinson        THANK YOU!   I LOVE AND APPRECIATE MY FANS!!!!!!!! Nic Petrossi, Prudential California Realty  (714) 272-3646 npetrossi@yahoo.com   05/21/2009

Below is a list of all Yorba Linda Bank Owned homes as of 5/18/09. Visit www.yorbalindabankowned.com to search for homes in Yorba Linda. Nic Petrossi, Prudential (714) 272-3646      npetrossi@yahoo.com   Mon, May 18, 2009 04:12 PM RES MLS # Status P V H T Q Type A/D Address City Area Zip TGNO Trct/M Bd B t/f Sty Gar SqFt Yr Blt Price DOM   1  MRM-K09042276  A   1     H  T  Q  CONDO  A 4995 EUREKA Ave 58  YL 85 92886  740B4  /  2  1/1  1  A  882  1964  $209,900       2  P681030  A   7     H  T  Q  CONDO  A 5825 W Portsmouth Rd 220  YL 85 92887  741D6  OTHR/0  2  2/2  1  2 D  963  1985  $219,000  54  *   3  P687486  A   5     H  T  Q  SFR  A 3650 Sherwood Dr   YL 85 92886  740F2  OTHR/0  2  2/1  1  2 A  1,300  1986  $445,000  4     4  P687703  A   0     H  T  Q  SFR  D 4925 Lotus Ave   YL... 05/18/2009

The Yorba Linda Real Estate Report for May 4th, 2009 follows: There are 304 active listings. This consists of 252 Single Family Residences and 52 Condos. There are 118 homes in escrow. This consists of 89 Single Family Residences and 29 Condos. So far this month 6 homes have closed escrow. This consists of 5 Single Family Residences and 1 Condo. Since our last post, 13 homes were listed for sale, 7 went in to escrow, 6 closed escrow, 9 were taken off the market, 6 were put back on the market and 3 were put on hold. Median Sold Price in May is $528,000. Average Sold Price in May is $503,240. For more information please visit Yorba Linda Real Estate. 05/04/2009

Homes currently available in Kerrigan Ranch...an exclusive Yorba Linda community: MLS No. Address Bedrooms Bath SqFt Price P660150 19985 Winners Cir 5 6 5,100 $1,395,000 P668020 19442 CONNEMARA Ct 6 7 4,625 $1,550,000 P682305 19513 Cleveland Bay Ln 5 5 4,800 $1,595,000 P684347 19636 Morgan Ct 5 6 4,200 $1,598,950 P673601 3873 Breton Ln 6 6 5,600 $1,599,000 P654833 3921 Paso Fino Way 5 6 4,182 $1,599,875 H09008381 19676 MORGAN Ct 6 7 5,870 $1,699,000 P672490 4052 Paso Fino Way 5 6 4,400 $1,775,000 S563202 19484 Shetland Ln 5 5 4,400 $1,790,000 P544432 4262 Hidden Oaks Dr 5 5 4,115 $1,799,999 P647976 19596 Connemara Ct 5 6 4,170 $1,849,000 P655540 3733 Quarter Horse Dr 5 6 5,033 $1,849,000 P663601 4195 Hidden Oaks Dr 5 6 4,500 $1,899,999 P678334 19872 RED ROAN Ln 5 6 5,412 $1,950,000   ww... 05/04/2009

Need yorba linda homes for sale sent to your email broken down by price range and what YOU are looking for??? Contact Nic Petrossi (714) 272-3646 or at npetrossi@yahoo.com Click here for website ------>   NIC PETROSSI'S WEBSITE     04/30/2009

Below is a list of all single family homesi in the 92886 zip code of Yorba Linda that have at least 1800 square feet and are under $1M.  This list is active and current as of 4/29/09. Contact NIC PETROSSI with Prudential Ca Realty at (714) 272-3646 for all your Yorba Linda Real Estate needs. npetrossi@yahoo.com Click here for Nic's website -------------->    Yorba Linda Homes & Yorba Linda Real Estate P683622  A   16     H  T  Q  SFR  D 4821 Torida Way   YL 85 92886  739J4  OTHR/*  5  2/1  1  0    2,015  1963  $464,900  19     2  S571044  A   13     H  T  Q  SFR  D 4301 La Cuesta Cir   YL 85 92886  740A3  OTHR/-  4  3/2  2  2    2,100  1975  $499,000  14     3  P643390  A   6     H  T  Q  SFR  D 5692 Trail View Pl   YL 85 92886  740A6  OTHR/0  4  2/2  1  2 A  1,864  1963  $579,000  297 ... 04/29/2009

Contact NIC PETROSSI with Prudential in Brea on Imperial Highway in Home Depot Shopping Center for questions, info and access to these properties.  (714) 272-3646 The list below represents all bank owned foreclosures in Yorba Linda as of 4/29/09. Click here to check out Nic's website -------->    Yorba Linda Homes Wed, Apr 29, 2009 09:53 AM RES MLS # Status P V H T Q Type A/D Address City Area Zip TGNO Trct/M Bd B t/f Sty Gar SqFt Yr Blt Price DOM   1  MRM-K09042276  A   1     H  T  Q  CONDO  A 4995 EUREKA Ave 58  YL 85 92886  740B4  /  2  1/1  1  A  882  1964  $209,900       2  P681030  A   7     H  T  Q  CONDO  A 5825 W Portsmouth Rd 220  YL 85 92887  741D6  OTHR/0  2  2/2  1  2 D  963  1985  $219,000  35  *   3  MRM-I09019512  A   5     H  T  Q  CONDO  A 5804 OLD VILLAGE Rd 210  YL 8... 04/29/2009