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

Below is an awesome video from Mortgage Professional Mike Munzing: Click Here for Video ------>   VIDEO This is an awesome update Mike shot using a video camera and posting on YouTube.  Mike goes through the current mortgage rates, gets into graphs and charts dealing with how many foreclosures we have, how many NOD (Notice of Defaults) for March 2009, and also mentions ways to contact Mike using Facebook and Twitter. Highlights of the video:  Over 54,000 Notices of Default in California in March (all-time high). Fortunately the subprimes have peaked, have come and are going away.  The negative amortization loan defaults are on a rise for NOD's.  To search homes for sale in Placentia, Yorba Linda, Brea, Fullerton, Anaheim Hills or anywhere in Orange County, go to my website ------>  Clic... 04/26/2009

Recent Testimonial / Letter of Recommendation from one of Nic Petrossi's clients: Buying a home is one of the most stressful, and at the same time, exhilarating milestones that a person experiences. A month before we were married, my husband and I decided to take advantage of the historically low housing prices and purchase our first home. Needless to say, we were as green as they come and jumped in head first. After a quick search online, I found Nic. I called him and, literarily, within the hour we were looking at homes. He was so unbelievably friendly and reliable, ready to be anywhere within a moment's notice. He worked with our crazy schedules, occasionally signing documents late at night and on weekends. I cannot recommend a better real estate agent and never thought it could be t... 04/26/2009

You may be surprised to learn that the number of foreclosures (a.k.a. "REO," "Bank Owned") properties in Yorba Linda is only a mere 9.  That's right, only NINE foreclosures in all of Yorba Linda as of today, April 21, 2009.  That's less than 1% of all the homes listed in Yorba Linda.  What does that mean?   That means Yorba Linda is one heck of a stout city.  When there are hardly any foreclosures, that means there are hardly any homes that are drastically reduced in price to bring down the comparables.  And what does THAT mean?  That means that Yorba Linda will continue to enjoy home value stability while other areas in Orange County and the Inland Empire are going through mini-depressions. Below is a list of all Yorba Linda bank owned REO properties.  Feel free to contact me at your c... 04/21/2009

RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (714) 588 -7676 ∙  www.ReMaxAnn.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 fina... 04/21/2009

I believe we are currently at the bottom of the market in an important segment of the real estate market. That segment in Orange County, California are financed single family properties priced under $500,000 and condos priced under $300,000. While I will share quantitative support for this theory, the basis of my opinion is founded on the principal of contradiction. I believe that contradictions provide advanced warning of market peaks and valleys. For example, the contradiction between prices and affordability, coupled with the contradiction between common sense and lending practices, pointed to a market peak a few years ago.  (Yes, there was more to it, but we're on to this market now.) Here are the contradictions that support our market bottom under $500,000 as stated above. 1. Decre... 04/18/2009

You'd be surprised, but there really AREN'T that many foreclosures in Yorba Linda (EIGHT in the WHOLE city!!!).  Which is a good thing, since short sales and foreclosures are largely responsible for taking down home prices in any given area.  Below is a list of all (and there really aren't that many) the foreclosures in Yorba Linda as of Easter Sunday, 2009: Call NIC PETROSSI, with Prudential CA Realty to talk about short sales and foreclosures and how the process works.  I'll give you my professional opinion and walk you through the steps. (714) 272-3646 Direct    (714) 257-3606 Office   Or email me at Npetrossi@yahoo.com Website ---------------->  CLICK HERE   Sun, Apr 12, 2009 06:57 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 ... 04/12/2009

Isn't THAT the million dollar question... Well, no one has the crystal ball, but we all have our sources of knowledge and expertise to try to gauge when we'll see the up-swing. Some are saying that the bottom has already come. Some are saying that we won't see it for some time. I say, I don't know for sure, but what I do know for Orange County, CA is this: The Below $500K Market is already there.  We are seeing good properties under $500K being snatched up within a week in Northeast Orange County (Placentia, Yorba Linda, Brea, Fullerton, Anaheim, Anaheim Hills).  There are multiple offers on properties that are in good condition.  So, essentially, we are THERE for that price range. What about the over $500,000 range?  When will we see the bottom for THOSE homes?   A great article came o... 04/06/2009

EVERYBODY WANTS A DEAL... People see a "Bank Owned" open house sign and tires skreech, wheels turn, and dozens pull up to the foreclosure.  One yorba linda real estate agent in my office said he gets about 50 to 60 people through an Open House just because he uses black and yellow "BANK OWNED / REO" signs. But ARE foreclosures always the best deal in town?    The answer is "NO."  Foreclosures are priced lower by the banks because they're not playing games testing the market and want to get the "asset" (which is now a liability) off their books.  So, they hire a Realtor to sell the home and the home is usually priced below market.  Sometimes, SO FAR below market that there are multiple offers on the property, a bidding war ensues, and the home sells for tens of thousands above asking pri... 04/06/2009

Ladies and Gentlemen, The Market is changing.  Dramatically. There are dozens of Brea real estate agents, Yorba Linda real estate agents, Placentia real estate agents, Fullerton real estate agents, Anaheim Hills real estate agents from large firms (e.g. Prudential, C-21, Seven Gables, REMAX) who are saying it is EXTREMELY difficult to get their buyers into a property. What does this suggest??? The market is shifting right in front of our eyes.  I'm coming out now to say -- WE'VE HIT THE BOTTOM...at least in the under $500K price range for homes in excellent condition. When it comes to the $300K price range in Northeast Orange County, fuggetaboutit.  What would you say if I told you there are properties with 10, 20, 30 offers on them going for $100K over asking price?  That's right, if i... 03/31/2009

Yorba Linda Realtors & Yorba Linda Homes    Forget what you read in the paper...     Forget what you see on TV...     The Under $500K real estate market in Northeast Orange County is ON FIRE!!! Now, let me qualify what I mean by the "Under $500K real estate market."  Any home that is in awesome shape that is under $500K in Yorba Linda, Placentia, Brea, Anaheim Hills, Fullerton, Anaheim, Orange is not only a "hot item" -- it's GONE.  I've talked to several agents here in the office and this is what I hear: "Man, I've written up an average of 10 offers with 3 different buyers on properties and I keep losing...I can't get a buyer into escrow on these properties!" "I have 9 buyers with whom I'm writing offers and it's been over 30 days of constant sleepless work...I have only 2 of them in e... 03/31/2009

Is it time to buy Yorba Linda homes?  Really?                                        Reasons to Wait...            I've heard it time and time again..."We're waiting to see if the prices keep going down."  Is it possible for homes to continue to drop in value in Orange County, CA?  Of course.  We're used to that by now.  We've seen home prices come down since at least January of 2006, if not sooner.  The deflation of the "bubble" still isn't over, at least, in most price ranges.  So, waiting until the "bottom" hits, whenever that actually happens, is a legitimate reason to wait.  Some people that thought we were there a year ago are probably wishing they would have held off until 2009.  Since March of 2008, we've seen home prices come down at least 15% in most areas in most price ranges... 03/24/2009

Below is a free list of all foreclosures as of 3/12/2009.  Call Nic Petrossi (714) 272-3646 with Prudential for questions or access to these properties. Visit www.NicPetrossi.com Thu, Mar 12, 2009 09:35 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-I09028181  A   0     H  T  Q  CONDO  A 6430 SHADY LAWN Dr 16  YL 85 92886  740F7  OTHR/  3  2/2  2  A  1,066  1977  $224,900  0     2  U9001123  A   1     H  T  Q  CONDO  A 5843 Portsmouth Rd 237  YL 85 92887  741D6  OTHR/%  2  2/2  1  2 D  1,077  1985  $257,050  8     3  S566338  A   10     H  T  Q  CONDO  A 5110 Twilight Canyon 29C  YL 85 92887  741C4  HILL/C  3  2/1  1  0    1,380  1989  $278,900  5  *   4  P679068  A   14     H  T  Q  CONDO  A 5625 Via Inez 7  YL 8... 03/12/2009

There are two seldom discussed points about the new $8,000 tax credit that present potential benefits to qualifying buyers. 1. The taxpayer can choose to take the tax credit on their 2008 or 2009 tax return, depending on which is more advantageous. 2. The taxpayer can amend or extend their 2008 tax return in order to receive the credit sooner! Here are the details: Question: If I'm qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return? YES! The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008. This means that the 2008 income limit (MAGI) applies and the election accelerates when the credit can be claimed (tax filing for 2008 returns instead of for 2009 ... 02/23/2009

Below is a list of Yorba Linda Homes by Yorba Linda Real Estate Agent / Realtor Nic Petrossi in the $500,000 to $600,000 range as of February 19, 2009. Call NIC PETROSSI with Prudential for questions, access to properties or more information.     (714) 272-3646 Direct    npetrossi@yahoo.com   www.NicPetrossi.com Thu, Feb 19, 2009 03:05 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  P660475  A   16     H  T  Q  SFR  D 4595 VIA DE LA PLAZA   YL 85 92886  740F4  OTHR/0  4  2/2  1  2    1,720  1970  $500,000  112  *   2  P671593  A   6     H  T  Q  SFR  D 20386 Via Trinidad   YL 85 92886  740F3  OTHR/0  4  3/3  S  2    1,906  1987  $500,000  38  *   3  P673923  A   14     H  T  Q  SFR  D 16641 Lathrop Dr   YL 85 92886  73... 02/19/2009

Below is a list of 92886 Yorba Linda Homes $400,000 to $500,000 as of February 18, 2009. Call NIC PETROSSI with Prudential CA Realty for more info, questions, access to properties.    Nic Petrossi    (714) 272-3646     Email:  npetrossi@yahoo.com    Website:  www.NicPetrossi.com NIC can connect you with an excellent lender for pre-qualification loan needs. Thu, Feb 19, 2009 03:02 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  S540878  A   20     H  T  Q  SFR  D 4478 Via Del Prado   YL 85 92886  740F3  OTHR/*  3  2/2  1  2    1,540  1971  $439,900  218  *   2  S544909  A   9     H  T  Q  CONDO  A 20026 Waverly Glen St 51  YL 85 92886  678F4  FRHL/A  3  3/2  2  2    1,126  1977  $440,000  182     3  P647857  A   8     H... 02/19/2009

Below is a list of Yorba Linda Homes in the 92886 zip code from $300,000 to $400,000 as of 2/18/2009. Call NIC PETROSSI with Prudential CA Realty for more info, questions, etc.  (714) 272-3646 Direct Email:    npetrossi@yahoo.com NIC can also refer you to an excellent loan broker to take care of your pre-qualification / loan needs. Thu, Feb 19, 2009 02:56 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  P668670  A   2     H  T  Q  CONDO  A 4784 Escalona Plz   YL 85 92886  740E4  YRKT/0  2  2/1  1  2 A  1,022  1973  $319,900  64     2  P663955  A   2     H  T  Q  CONDO  D 20025 Royal Oak Ct 40  YL 85 92886  740F7  WODG/*  3  2/1  1  2 A  1,066  1972  $324,900  104  *   3  P674768  A   14   V  H  T  Q  CONDO  A 19659 Lorc... 02/19/2009

Below is a list of all Yorba Linda 92886 Homes under $300K. Call Nic Petrossi with Prudential for access to any of these homes and / or to be connected to an excellent lender to help with your pre-qualification needs.      NIC PETROSSI  (714) 272-3646 Residential Thu, Feb 19, 2009 02:41 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-H08175716  A   8     H  T  Q  CONDO  A 5070 AVOCADO Cir 10  YL 85 92886  740C4  OTHR/  1  1/1  1     700  1981  $149,900  11  *   2  P663473  A   6     H  T  Q  CONDO  D 5076 Lakeview Ave 39  YL 85 92886  740C4  OTHR/*  1  1/1  1  1    864  1964  $165,000  111  *   3  P643720  A   5     H  T  Q  CONDO  A 17832 Linda Dr 31  YL 85 92886  740B4  OTHR/0  1  1/1  1  1 D  752  1964  $179,000... 02/19/2009

This list of Yorba Linda foreclosures, Yorba Linda bank owned, Yorba Linda REO properties is updated as of February 19, 2009. Call Nic Petrossi, Prudential CA Realty (714) 272-3646 for access to any of these homes. For financing needs, I can refer you to an excellent lender.   Thu, Feb 19, 2009 01:19 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-H08175716  A   8     H  T  Q  CONDO  A 5070 AVOCADO Cir 10  YL 85 92886  740C4  OTHR/  1  1/1  1     700  1981  $149,900  11  *   2  P675098  A   6     H  T  Q  CONDO  A 5205 Box Canyon Ct 19c  YL 85 92887  741B4  HILL/*  2  2/1  1  0    1,128  1989  $229,900  10     3  P675857  A   1     H  T  Q  CONDO  A 5140 Box Canyon Ct 18a  YL 85 92887  741B4  HILL/O  2  2/1  1  0  ... 02/19/2009

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 handful of legitimate Loan Modification companies out there that know how to ha... 02/17/2009