Merry Christmas

My family and I would like to take this time to thak God for the blessings of his Son, Jeaus Christ's Birth. In honor of His birth, death and reserection my life and I hope yours has been made whole.


So we (my family and I) wish you a Merry Christmas and a Happy New Year. May each day be filled with God's grace and mercy for you and your family.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 16.3 percent, for new homes it is up 10.1 percent and for resale condos up 11.3 percent. The sales volume is up for resale homes 17.4 percent and up 27.1 percent on condos and down 17.7 percent for new homes.


Mission Viejo Zip Code 92691 sales prices are up 20.3 percent and the sales volume is down 8.7 percent.

Mission Viejo Zip Code 92692 sales prices are down 1.7 percent and the sales volume is up 30.6 percent.

Aliso Viejo sales prices are up 3.8 percent and the sales volume is up 41.5 percent.

Laguna Niguel sales prices are up 1.6 percent and the sales volume is up 68.9 percent.

Rancho Santa Margarita sales prices are down 5.1 percent and the sales volume is up 24.5 percent.

San Clemente Zip Code 92672 sales prices are down 9.8 percent and the sales volume is up 30.0 percent.

San Clemente Zip Code 92673 sales prices are down 4.8 percent and the sales volume is up 21.9 percent

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Pacifica, San Juan Capistrano

The homeowners in Pacifica, San Juan Capistrano will get a 42 percent refund this year from one of their tax bills on Mello-Roos.


The Capistrano Unified School District decided to refund 42 percent of the Mello-Roos property assessment this year on homes in the Pacifica San Juan Capistrano community. This is a one year only deal. It is money the school district is collecting, but not allocated or earmarked.



Capistrano Unified, which will lose a $204,000 in the deal , agreed to the plan. This is after months of hearing residents who complained that they are paying full property taxes on a project the was not completed.


The Mello-Roos assessment were collected to fund infrastructure that was never built, including a community center, pool and and elementrary school. Thus the settlement was decided to be 42 percent of the tax bills to the homeowner in Pacifica, San Juan Capistrano.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Fewer Buyers Want Foreclosed Homes

Fewer buyers want foreclosed homes according to Trulia.com and RealtyTrac. About 43 percent to American buyers say they are interested to buy a foreclosed home. The number one reason cited for the change is they do not want the hidden costs.


There is a clear negative perception and, therefore, fewer buyers interest in foreclosed homes. One is 2 U. S. adults who are single (never Married) are at least somewhat likely to consider purchasing a foreclosure comparied to 40 percent who are married.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Few Get Loan Modification

Very few homeowners have been able to get loan modification. The Orange County Register this morning had an article stating Mortgage relief reaches few homeowners. Just over 31,000 that is just a few homewoners received permanent loan modifications since March under the Obama administration's mortgage relief plan.

Among the big lenders, who received TARP monies, Bank of America had the worst record. The nations largest lender had only completed 98 modifications for the 160,000 borrowers who had signed up by the end of November.

The weak results mean Obama admisistration is not going to hit its long term target of helping 3 million borrowers with loan modifications. 31,000 comparied to 3,000,000 is less than one tenth of what Obama thought was possible. I guess that we could say that only a few get loan modifications.

The more borrowers the program can't reach, the more foreclosed homes or short sales that will spill onto the market. Which pulls down the real estate market. The Treasury Department will step up its pressure on the banks to do something with the loan modification situation.

The article went on to say that the administration's focus is to "get as many of those eligible homeowners as posible into permanent modifications," said Phyllis Caldwell, chief of Treasury's homeownership preservation office. Could we do worse than having a focus and a department who fails this badly. How could you do worse?

When the poor progress was clear last summer, the Treasury Department set a goal of enrolling up to 500,000 borrowers by November 1, 2009.

Under the program, eligible borrowers who are behind or at risk of default can have their mortgage interest rate reduced to as low as two percent for 5 years.

It is a major failing of the Obama administration that only a few people get a loan modification when they ask for it.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 7.3 percent, for new homes it is up 5.4 percent and for resale condos up 8.5 percent. The sales volume is up for resale homes 11.3 percent and up 12.0 percent on condos and up 12.5 percent for new homes.


Mission Viejo Zip Code 92691 sales prices are down 8.4 percent and the sales volume is down 10.5 percent.

Mission Viejo Zip Code 92692 sales prices are down 1.6 percent and the sales volume is up 20.4 percent.

Aliso Viejo sales prices are down 2.6 percent and the sales volume is up 17.6 percent.

Laguna Niguel sales prices are down 4.8 percent and the sales volume is up 46.7 percent.

Rancho Santa Margarita sales prices are up 10.8 percent and the sales volume is up 36.8 percent.

San Clemente Zip Code 92672 sales prices are up 15.7 percent and the sales volume is up 14.8 percent.

San Clemente Zip Code 92673 sales prices are down 8.4 percent and the sales volume is up 17.9 percent

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Nicolas Cage's Home Did Not Sell

Nicolas Cage's home on the Balboa Peninsula built in 1913, cottage style did not sell. Nicolas Cage tried to sell the home and dropped the price 3 times before he took it off the market because the home just did not sell. The original price was 1.9 million.



Nicholas Cage's trust paid 1.7 million for the home in December of 2006 the home was able to secure a renter instead of selling, because it just did not sell.



The home is a 1500 sq ft one story cottage, just a few doors from the sand steps to the Newport Pier. It is a 3 bedroom home that had been remodeled and had a granite kitchen and with maple cabinets. Don't be too sad Nicholas Cage's home that was on Bay Shore Drive sold in January 2008 for $35 million.



Nicholas Cage is selling off many of the homes he had all around the world at this time many of them at a loss others that did not sell. He also suffered losses in two homes that were in New Orleans to foreclosure.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 1.9 percent, for new homes it is up 15.4 percent and for resale condos up 7.5 percent. The sales volume is up for resale homes .1 percent and ever or 0.0 percent on condos and down 18.7 percent for new homes.



Mission Viejo Zip Code 92691 sales prices are down 10.7 percent and the sales volume is up 17.6 percent.

Mission Viejo Zip Code 92692 sales prices are down 1.0 percent and the sales volume is up 28.3 percent.

Aliso Viejo sales prices are down 13.8 percent and the sales volume is even or 0.0 percent.

Laguna Niguel sales prices are down 14.6 percent and the sales volume is up 39.7 percent.

Rancho Santa Margarita sales prices are down 2.6 percent and the sales volume is up 11.4 percent.

San Clemente Zip Code 92672 sales prices are down 6.9 percent and the sales volume is up 64.0 percent.

San Clemente Zip Code 92673 sales prices are down 10.6 percent and the sales volume is even or 0.0 percent

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Tim's Rant

I'm sorry but I just have to get this off of my chest in what I call Tim's rant. What kind of a nation are we becoming? I grew up in a free nation that we respected each other's freedoms. Now, we have people who want us to live the way they think is good for us. STAY OUT OF MY FREEDOMS!!!!!


I told you I got up this morning and can't quite figure out why and how we got here thus Tim's rant. Yes, as I grew up I road a bicycle without a helmet, we could travel in the back of a pickup truck, we helped our neighbor without the State or Fed. help.



Now, besides all of the above there are movements to tax us calling it something else, like the pocket mouse removal on land here in California. When you pay the fee on so you can build no one traps the mouse no one does anything we just pay the state. How about the lotto in California.



We were told that if we had a lotto we would not have to worry about school buildings needing repair anymore. The money would go to education. Not true, oops I would get in trouble the money does go to education. DOES IT? The department of education has a budget so any money that flows into there department that is more than the amount to run education is pushed out to the general fund. No money actually goes to education and we still have schools that are in worse repair than before the lotto. Net result we are worse off.



Who is running the State of California and the Federal Government? Have we lost our minds? We turned off water to grow food in the great central valley of California and that was to help a 3 inch fish. No proof that the water pumps were causing the demise of the fish. We want to help them from going extinct. Since the shut off they these fish are still decreasing in number and people and food aren't that important. How does that add up?  The Federal Government is running the water into the ocean and not to the land causing a dust bowl.



So, a solution the Metropolitan Water District will cough up $350,000 to a San Diego project over a 25 years period and desalinate water. Sounds good right. No we can't do that either critics don't like that it is a private company and want the government that is broke to fund the project and build it. Environmentalists worry about the impact of highly salty brine and what will come of it. So they want alternatives. So for the nation at large you will not be getting the produce from California.



We must be the most distracted people in the world and don't know or care about how our freedoms are being taken away everyday. We are trying to take on too much from a government who cannot tell the truth. We need to actually take action and use our laws against those who made them and lied to us. If they have misused funds and gotten kickbacks while convincing us that the sky will fall if we are not being cared for by them we need to take action. If not vote out everyone.  I told you I was on a RANT.



We look at California the state is broke and today there is discussion that TVs take too much energy so they have set standards that reduce the power that a TV can use by about 50 percent. Not based on science or manufacturing standards or what is possible but what they believe it should be. That standard is only until 2012 then they want it to be a 3rd of what it now takes. Leave my enjoyment of TV alone.  Oh yea, 52 inch sets are exempt.  Why?  None of it makes sense.  So, people will purchase larger TVs or go out of state to purchase them leaving the retailers here in California without the usual sales. 



Where does this stop? Then we are going to be told by the feds which cars we can buy and what kind of health care we can purchase. Since the government cannot tell the truth and or run a business well, why are we doing this.



This is Tim's rant of the day.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 4.2 percent, for new homes it is up 3.6 percent and for resale condos up 4.6 percent. The sales volume is up for resale homes 5.7 percent and up 8.8 percent on condos and down 19.6 percent for new homes.



Mission Viejo Zip Code 92691 sales prices are down 9.0 percent and the sales volume is up 15.4 percent.

Mission Viejo Zip Code 92692 sales prices are up 3.3 percent and the sales volume is up 33.3 percent.

Aliso Viejo sales prices are down 13.8 percent and the sales volume is even 0.0 percent.

Laguna Niguel sales prices are down 8.0 percent and the sales volume is up 39.7 percent.

Rancho Santa Margarita sales prices are down 26.6 percent and the sales volume is down 7.6 percent.

San Clemente Zip Code 92672 sales prices are up 7.0 percent and the sales volume is up 135.3 percent.

San Clemente Zip Code 92673 sales prices are down 9.0 percent and the sales volume is up 4.3 percent

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mission Viejo Area Market Report

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 3.6 percent, for new homes it is up 4.4 percent and for resale condos up 8.8 percent. The sales volume is up for resale homes 10.4 percent and up 10.2 percent on condos and down 6.9 percent for new homes.

Mission Viejo Zip Code 92691 sales prices are down 10.0 percent and the sales volume is up 21.3 percent.
Mission Viejo Zip Code 92692 sales prices are up 5.4 percent and the sales volume is up 29.6 percent.
Aliso Viejo sales prices are down 10.6 percent and the sales volume is down 4.6 percent.
Laguna Niguel sales prices are down 16.7 percent and the sales volume is up 47.8 percent.
Rancho Santa Margarita sales prices are down 22.4 percent and the sales volume is down 2.4 percent.
San Clemente Zip Code 92672 sales prices are up 3.8 percent and the sales volume is up 116.7 percent.
San Clemente Zip Code 92673 sales prices are down 12.3 percent and the sales volume is up 2.2 percent

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Arizona Are You Crazy?

Arizona Are You Crazy?

I've seen it all now,  This may be old news to those who live in Arizona but new to me.  Like a drunk looking for its next drink the state an federal law makers keep spending money and therefore keep trying to find new ways to get more.



We are in a recession which means nothing to those in power. They can tax more, but fewer have jobs can't get enough money. Then tax the businesses, but that causes unemployment. Well, government must spend more. I know how we can add big or little programs all we need to do is print money at the federal level, but that leads to staggering inflation. What to do? WHAT TO DO?



You see the politations only want power and they need to spend. How do we let them know it is not their money? It is the collectives money or our money. We all pitch in and pay a little how could it hurt. Well, California is broke and Arizona must be also. Soon, Washington we will be. Here is an idea! How about selling the Washington Monument and the White House. After all we could get money for them to help with the Trillions we are currently spending. Now you may be saying Tim that is crazy, right?



Here is Arizona's answer to the lack of money. They are selling off their office buildings that houses most of the State of Arizona's government. Recently the politicians for Arizona put the state buildings on the market to help this broke state close its budget deficit. Then they intend to lease them back on a long term lease. It is looking like a pretty good deal, if the state can prove it is credit worthy.



The the best piece to sell is the executive office tower, which holds the executive functions of government as well as the secretary of state, the state treasurer and the state mine inspector, and is valued at $39,511,240.



Keep watching I will let you know when California sells the Golden Gate Bridge.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Oh No Mortgage Rates Climbing

Oh No Mortgage Rates Climbing
Oh no Mortgage rates are climbing and that is the biggest threat to a good real estate market. Yes, I said oh no to the increase in mortgage rates that are climbing because it will reduce the value of the home a buyer can afford and force more buyers into the conforming part of the market $500,000 and below. If we have 20 offer per home in the lower part of our market we will have even more people bidding for the same property.

Mortgage rates increases are climing over the past three weeks. The costs go up when this happens. As a consumer you must look at the mortgage rate and the points that need to be paid up front to get the rate quoted.

The average 30 year fixed rate mortgage was up 1 one basis point (asis point is one-hundredth of a percentage point).

Adjustable rate mortgage split the one year adjustable rate mortgage rose 3 basis points, while the 5/1 arm dropped 5 basis points.

Mortgage applications dorpped for the second straight week falling a 12.3 percent when compared to a week earlier according to the Mortgage Bankers Association. For the week ending October 23, applications for new purchases dropped 5.2 percent.

Home equity lines of credit jumped up their biggest increase since earily March. The HELOC jumped 8 basis points and Home equity loans rose 6 basis points.

It has been my stance that rates must go up the dollar is dropping and inflation will have to be stopped if we continue on in the direction we are headed. Therefore, buy now while you can afford to purchase a home. Or you will be saying, Oh no the mortgage rates are climbing and I can't afford to buy my home.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mission Viejo Area Market Report

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 4.2 percent, for new homes it is up 4.2 percent and for resale condos up 3.1 percent. The sales volume is up for resale homes 3.0 percent and up 8.1 percent on condos and down 25.7 percent for new homes.

Mission Viejo Zip Code 92691 sales prices are down 7.2 percent and the sales volume is up 18.0 percent.

Mission Viejo Zip Code 92692 sales prices are up 3.3 percent and the sales volume is up 38.8 percent.

Aliso Viejo sales prices are down 14.6 percent and the sales volume is down 14.6 percent.

Laguna Niguel sales prices are down 5.2 percent and the sales volume is up 50.7 percent.

Rancho Santa Margarita sales prices are down 19.2 percent and the sales volume is down 2.9 percent.

San Clemente Zip Code 92672 sales prices are down 1.6 percent and the sales volume is up 171.4 percent.

San Clemente Zip Code 92673 sales prices are down 7.7 percent and the sales volume is up 23.0 percent

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Spending tightens

Spending tightens


So what is happening out there in the real world when it is reported that spending tightens. The retailers are expecting a less than normal Christmas season because wages are flat and credit is tight. This will all lead to a consumer who's spending tightens.



Since the recovery is week the consumers are in no position to spend there way out of the recession. The Commerce Department reported that personal incomes were stagnant in September. While unemployment is still rising.



Consumer spending accounts for 70 percent of the total economic activity has dropped 0.5 percent the first decline in 5 months. The bright spot in the economy is that gross domestic product grew 3.5 percent from July to September.



Analysts are saying that the consumer are showing there fear of the economy by their spending habits and and they tightens the grip on their money.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

New Home Sales Up

New Home Sales Up

New home sales are up 42 percent in the Orange County Area. The new home sales are up and that is good new for the area. Is this the recovery? No one is ready to state that but it is a good sign.



The short sale and bank owned properties have been leading the way but now we have new home sales up and by a big percentage. Not only are the number of new home sales up the prices have been inching up as well.



We do know that there has been a drop in inventory and that can effect the market. Some may have been trying to just get a home.



This is the first year over year gain in new home sales in the 6 months.



The average price for an attached unit was $446,476 last quarter down from $582,650 in the third quarter of 2007. Note that last quarter the average price was $582,650 in the third quarter of 2007.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Tax Amnesty

Tax Amnesty

Tax Amnesty draws about 7500 people who owe the federal government, IRS their taxes. About 7500 tax cheats have filed for the amnesty program that promised no jail and reduced penalties for tax cheats. The tax amnesty program allows those who hid money in more than 70 different countries and on every populated continent. The report states that the amount ranges from $10,000 to $100,000,000.



The IRS has a long standing policy that they would give tax evaders, who come forward, before they are contacted by the agency, no jail time. Fewer than 100 people apply for the program in a given year part of the reason is that the penalties can exceed the amount in the accounts depending on the lenth of time the tax evader has evaded the IRS.



In March the IRS began a six-month tax amnesty program that sweetened the offer with reduced penalties for the people with undeclared assets. The program was extended but it will not be extended again.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Irvine Company Optimistic

Irvine Company Optimistic

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, including longtime companies like Lennar, KB Homes, Brookfield Homes and two start-up companies The New Home Co. and Tri Pointe Homes. There will be 25 floor plans, with features that come from careful market research. Prices range from the low $300,000 to $800,000. These homes will be fairly high density with the larger lots at just over 4,500 square feet.



The Irvine Company stated they thought it would take one and one half to two years to sell all of the homes. They will prove they are optimistic about the future of the housing market by financing construction and they will keep the land in their name. The Irvine Company will have new architectural designs based on the market research.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Market Report for Mission Viejo area

Market Report for Mission Viejo area


This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 4.2 percent, for new homes it is down 2.4 percent and for resale condos up 3.4 percent. The sales volume is up for resale homes 7.5 percent and up 11.9 percent on condos and down 31.4 percent for new homes.



Mission Viejo Zip Code 92691 sales prices are down 6.0 percent and the sales volume is down 5.5 percent.

Mission Viejo Zip Code 92692 sales prices are down 5.9 percent and the sales volume is up 38.3 percent.

Aliso Viejo sales prices are down 7.9 percent and the sales volume is up 18.3 percent.

Laguna Niguel sales prices are down 4.9 percent and the sales volume is up 47..7 percent.

Rancho Santa Margarita sales prices are down 19.6 percent and the sales volume is down 6.8 percent.

San Clemente Zip Code 92672 sales prices are up 26.5 percent and the sales volume is up 113.3 percent.

San Clemente Zip Code 92673 sales prices are down 10.6 percent and the sales volume is up 30.6 percent.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Bloggers Be Worried

Bloggers Be Worried

The FTC is beginning to move in on the bloggers and we should be worried. The Federal Trade Commission voted 4-0 to establish a new rule to regulate freedom of speech on the Web for bloggers and social media users.



An $11,000 fine could appear in your mail box from a federal official or a federal agent could knock at your door for violating the new rules. The rules may not seem to effect you now but this is the beginning of quiting down the blogosphere. The rules state that bloggers and social media must disclose any financial relationships they may have with companies or products they talk about in their posts. You are also required to disclose any gifts received by bloggers we need to be worried and concerned.



I personally do not get any gifts or do I promote products. That was just for the record.



Paid journalists will not have the same rules. They can get free books or movies before they write a review. This is an overreaching policy. Most of the blogs and the social network is simply friends talking to friends. This is beyond belief.



How do we protest a rule? Being worried does not change things. Watch the FTC closely.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Market Report for the Mission Viejo Area

The Market Report for Mission Viejo area:

What is the market report for the last 4 weeks? Let's look at the numbers. For the whole of Orange County resale home prices are down 3.1 percent, New home prices are down 2.9 percent and resale condos are fairly level at 0.3 percent down. The number of sales or sales volume for resale home sales are down 1.1 percent resale condos sales are up 0.6 percent and new homes are also down 0.6 percent.



Mission Viejo zip code 92691 prices are up 3.0 percent and the sales are down 24.6 percent.

Mission Viejo zip code 92692 prices are down 24.8 percent and the sales are up 11.7 percent.

Aliso Viejo prices are down 2.1 percent and the sales are up 3.2 percent.

Laguna Niguel prices are up 0.9 percent and the sales are up 9.2 percent.

Rancho Santa Margarita prices are down 10.8 percent and the sales are up 17 percent.

San Clemente zip code 92672 prices down 9.1 percent and the sales are up 75 percent.

San Clemente zip code 92673 prices are down 7.1 percent and the sales are even no change.

It is still difficult to make any long range predictions on this market a report from a Mission Viejo Realtor.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Mallorca Homeowner Association in Mission Viejo Asked For What?

What was it that the Mallorca Homeowners Association asked the City of Mission Viejo to pay for?


Did you know that the Mallorca Homeowners Association asked the City of Mission Viejo to take over landscape maintenance of the slops owned by the association.



The slopes that the Mallorca Homeowners Association asked about, line Marguerite Parkway from Ameno to Vista Del Lago and amount to about 5 acres.



The agenda report written by Keith Rattay, the city's director of public services, the city has been asked by Mallorca Homeowners Association on other occasions.



The Mallorca Homeowners Association  asked the city of Mission Viejo to take over the landscape maintenance of the slopes, proposing that the city pay the bill to landscape and the Mallorca Homeowners Association would pay the cost to transfer the water and electricity to the city.



The estimated cost to the city would be $32,000 per year and an additional $350,000 to $420,000 to rehabilitate the land.



At the meeting many speakers balked at the idea that the city would pay to maintain someone elses property. Councilwoman Cathy Schlicht commented, "I believe they're walking away from their responsibility by asking the city to take over the property".



In the end Mission Viejo denied the request to maintain the lands owned by the Mallorca Homeowners Association.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Consumer Credit Fell

Consumer credit fell in August as banks tighten the credit and cause 7th straight month of keep consumers from getting to more credit. The consumer is reluctant ot borrow due to job losses and uncertainty in the market place. The total package of restrictive lending terms and the job situation causes the banks reluctance and the consumer is also reluctant to borrow or lend. That is the reason Consumer Credit Fell.



The consumer credit fell by 12 billion or 5.8 percent at an annual rate, to 2.46 trillion according to the Federal Reserve report released Wednesday. These continued drops month to month are the longest since 1991.



The demand for credit has had a sever drop families are trying to pay down debt and not interested in taking on debt. Revolving credit such as credit cards ddecreased by 9.91 billion. If this continues it will put the consumer in a better economic condition, but it will shrink the over all economy in a recession. It is not good in the long run.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Market Report for Mission Viejo area

What is the report for the last 4 weeks? Let's look at the numbers. For the whole of Orange County resale home prices are down 3.1 percent, New home prices are down 2.9 percent and resale condos are fairly level at 0.3 percent down. The number of sales or sales volume for resale home sales are down 1.1 percent resale condos sales are up 0.6 percent and new homes are also down 0.6 percent.

• Mission Viejo zip code 92691 prices are up 3.0 percent and the sales are down 24.6 percent.

• Mission Viejo zip code 92692 prices are down 24.8 percent and the sales are up 11.7 percent.

• Aliso Viejo prices are down 2.1 percent and the sales are up 3.2 percent.

• Laguna Niguel prices are up 0.9 percent and the sales are up 9.2 percent.

• Rancho Santa Margarita prices are down 10.8 percent and the sales are up 17 percent.

• San Clemente zip code 92672 prices down 9.1 percent and the sales are up 75 percent.

• San Clemente zip code 92673 prices are down 7.1 percent and the sales are even no change.

It is still difficult to make any long range predictions on this market.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Recall Election in Mission Viejo

A special recall election petition had over 9,538 signatures were validated for Mission Viejo Councilman Lance McLean. It was reported Friday, October 2nd in the Saddleback Valley News. There had been over 14,000 signatures turned in and 12,871 signatures were verified and of those 9,538 turned out to be valid for the Recall Election in Mission Viejo.



The reason for those in favor of the recall election in Mission Viejo is alledged:

• finacial mismanagement in voting for deficite spending last year,
• false promises for voting to increase housing density.
• violence, anger and incivility regarding an assault arrest and outburst at a former councelwoman.

As with all special elections this recall election in Mission Viejo will have a cost. It will be $43,268.40 for the verification process and the special election is estimated to cost $227,000.



The City Council is scheduled to certify the Registrar's results October 5, 2009.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Recession Delays

The recession can cause people to put off the things causing delays. The down turn (recession) is changing the way we live and it always happens. More people put off getting married and home purchases. Many who were going to relocate to a new area do not. We are uncertain or keenly certain of the way the recession will cause us delays. Lines of credit are and have been frozen and therefore, we do not tap into them and do fun things purchase thing we want so we put them off.



There is no way that the recession does not have some kind of an effect upon each and every one of us. Job loss or the potential of a loss, salary cuts, and/or lower income can lead to tension within the family and the community. The insecurity of the business climate but the community on edge.



Fewer people are driving their car alone, 75 percent fewer people drove alone to work and 22 states had declines in solo drivers compared to a year before. Now that is a change due to the recession.



Now for some good news private forecast of economic activity rose in August for the fifth straight month, the latest sign the recession has ended.



So we can go back to what we like to do or carry the good habits forward but we can choose to do things that the caused recession delays.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

949-282-2521

Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!

Here Comes The Mortgage Increases

Here comes the begining of the increases in mortgage rates. Don't look now but the Fed is not going to support lower interest rates. On Wednesday the Federal Reserve said it was slowing the pace of a program to lower mortgage rate and prop up the housing market.



The Fed decided to stretch out its goal of buying $1.45 trillion in mortgage backed securities. Fannie Mae, Freddie Mac and Ginnie Mae until the end of the first quarter of 2010. The Fed Chairman Ben Bernanke and his colleagues believe the recovery is here.



The Fed must control inflation. There for the believe that they must pull back and that will cause the mortgage rate increases so here it comes. When the interest rates increase they do so at a rapid rate and they tend to fly up. So now before we actually start to climb up is the time for sellers to sell and buyers to buy.



The good news is that the Fed did hold the target range for its key bank lending rate of between 0 and 0.25%. So my conclusion over all is HERE COMES THE MORTGAGE RATE INCREASES.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

949-282-2521

How Are Businesses Doing During the Recession in Orange County, CA

You have to ask yourself how businesses are doing during the recession in Orange County, CA. There are plenty of indications out there as you walk or ride around the county. Foreclosures, unemployment and bankruptcies were the all to familiar results of the economic turn down. Since the consumer's are fearful of the economic climate, they have become frugal. They fear being laid off or getting their home foreclosed on, or having pay cuts.




If you want to know how businesses are doing in Orange County, CA.we should look at the restaurants. They report that the number of folks coming to eat has drooped since late 2007. It got worse in 2008 as chains began closing stores because of the drop in sales. National Restaurant Association it has been 21 months of below average meals being served. Some local restaurants and or outlets failing during that period are Starbucks, KFC, Charo Chicken, and Black Angus to name a few.



Another place to look to see how businesses are doing in Orange County, CA would be small businesses. What we find is that many have lost their lines of credit or even get credit. This effects there ability to pay bills, expand, or just stay aflot.



Automotive sales were slipping until cash for clunkers off about 40%.



If we look at the retail business to see how businesses are doing in Orange County, CA it would not be good. A large number of retailers closed their stores and/orfiled for Chapter 11 bankruptcy protection, and several of those eventually went out of business.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

949-282-2521

For Lease! Spacious 3 Bedroom Tri-Level - Remodeled & Upgraded!

Large Upgraded Tri-level with Greenbelt Views!

Fabulous Lease! Visual Tour at www.markandtim.com

Completely Remodeled and Upgraded

Spacious Tri-Level Town Home
Featuring 3 bedrooms, 2.5 bathrooms
1,800 sq. ft. (n/t) of living space
Newer Gourmet Kitchen with Newer Appliances
Beautiful Cocoa Hued Cabinetry
Granite Countertops and Designer Tile Floors
Bathrooms Recently Remodeled and Upgraded
Living Room with Gas Fireplace and Viewing Balcony
Formal Dining Room
Full Size Inside Laundry Room
New Heating and Air Conditioning Units
2 Great Patios and Lots of Windows Overlooking Greenbelt Views
2-car Garage
Award Winning School District and Convenient to Everything
Located near the prestigious Mission Viejo Country Club & Golf Course.

Proudly for Lease $2300 a month

The Elite Home Sales Team of Keller Williams
27101 Puerta Real, Suite 150, Mission Viejo, CA
949-282-2521
Ca.re lic. 00919781
Email Tim today:   tim@markandtim.com

Visual Tours at www.markandtim.com

Over 40 Years Experience Representing Home Owners

and Real Estate Investors in Orange County

Instant MLS Listings & "Free" Market Analysis

www.markandtim.com

 Tim Lorenz 

 Over 40 Years Experience Representing South Orange County Home Buyers,

Sellers, Investors and Relocations!

We Cannot Continue Without A Really Big Crash or Higher Taxes

Today as I was traveling to my office I heard a stock market gruru stating that there has been 8 times since the 1930s that we have had a better than 50% growth in stocks since 1930. He went on to say the data was gathered by Bloomberg. In the year after the 50% growth in all but one time the stock market grew 8% more. The one time was when we had a double dip in recession in the 1980s. Do you remember what happened then? It is very much like we are today.



We have runaway spending at the federal level higher than any time in our history. This is not a Democrat or Republican issue it is an economic issue. We need to have jobs to continue to grow and to buy things. Pretty basic. We need small business and big business making profit or they cannot hire more employees and invest in good and services.



Government jobs do not count. Yes, when the employee spends it is like the private sector buy the money that pays for a government worker is from taxes or fees the government gets from us. The private sector gets its money by selling a good or a service. Again pretty basic.



Our unemployment and underemployment is getting larger. These poor folks who are out of work or are making less and can't afford to spend on anything but basics. If they can't pay there credit cards or the payments on there homes then the banks lose money. Thus the bail out from government (our money) raised through taxes. If they are out of work many of these people are receiving unemployment. Money from the government. Very basic. If we continue to lose jobs because fewer and fewer people have any money to spend. Then businesses go under and again few and fewer jobs. If we try to save the job situation by creating government jobs again it will be from taxes and fees. They must go up.



Now over lay on that situation a new cap and trade bill that everyone states is another tax on businesses especially on small business that creates somewhere between 65% - 90% of the jobs. If business has to spend money on the government while they are strapped for cash they must cut costs. One of the biggest costs to most businesses are employees. So, more job loss. Oh by the way cap and trade bill will also cost the consumer money in higher utility costs and each of the goods and services will have a higher cost due to the higher over head of every business.



Lets assume that the health care bill has at least some underestimate of cost to the businesses especially small business. Again they have to cut cost and that will translate to loss of jobs and even businesses closing. As the pool of people make money is reduced and fewer rich people are produced, Who will pay the tab. Government need more money to cover the new expensive plans. So we will all have to pay more taxes. Not a little more but an exceptional amount of money.



Now it is proven that as the tax rate goes up the government makes less money. I know that sounds rediculous but it has been shown to be true over and over again. So then what needs to be done?



We need more private sector jobs and we need State Governments and Federal Government to stop spending. At least stop adding to the negative spending. We are currently printing money at the federal level to help with the short fall. People do you understand that if we keep this up it will cost thousands of dollars to buy your groceries. Is anyone else concerned?



We definitely, from my perspective, are headed for a double dip recession or a depression.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Have You Ever Thought of Using Real Estate as a Vehicle For Retirement.

Have you ever though about how much you need to retire from work? Real Estate could make sense for a great retirement vehicle. Lets look at what you can do. If you can purchase a home at a low price and pay it off in 10 to 15 years or if you purchase the home cash. In our area, each home will bring in (assuming you purchase a low end home) $1800-2500 per month.




If you own 5 homes it will bring in $9000-12,500 per month. Now that is better than Social Security. There are a few thing you need to do. Have good credit if you are going to purchase a home with a loan. I would still carry 30 year financing but pay it off like a 10 or 15 year loan (calculate the payments you would make on a 10 or a 15 year loan and pay that). The reason for taking the longer term rather than the short term is if life delivers you a curve ball you did not see coming you can pay the lower 30 year payment. If you have a 10 or 15 year loan and some problem in life creates a financial hardship, the bank will now allow you to pay a lower payment. Usually, if a financial hardship does happen you cannot refinance either. So plan ahead.



Southern California does not have enough property to handle the influx of people that are going to need housing. Therefore, in the long term one can easily have a home to rent to those who need housing. I suggest single family homes, but duplexes to fourplexes are fine. I favor single family homes because they increase faster in an up market and if you need to sell one of your properties a single family home has a larger population of buyers. The positive for an investor with a multi-unit property is spreading the risk of vacancy. A vacancy will only be part of the income on the unit that is not coming in.



If you choose wisely in a market like we have now you can set yourself up for life. For more information contact me at www.markandtim.com Real Estate can be a great retirement vehicle.

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

www.markandtim.com

(949)282-2521

Buying Investment Property With FHA Financing

It seems that very few realtors know that FHA financing can be used to purchase up to 4 units. Owner occupancy is required but the buyer can still buy the property with as little as a 3.5% down payment. Financing one and two units the minimum down payment is always 3.5%. With three and four units the loan amount is determined by the debt service.


When a buyer wants to purchase three or four units utilizing FHA financing the property must be self-sufficient. The maximum loan amount is limited so that the ratio of the monthly mortgage payment, divided by the monthly net rental income, does not exceed 100%. The buyer must have three months total payment in reserves and the reserves cannot be a gift.


Here is an example of how a buyer can purchase four units with FHA financing when the debt service is 100%.


Let's say your buyer want to buy four units for $650,000. A 3.5% down payment is $22,750 making the loan amount $627,500. This is fine as long as the net rental income from all four units can cover the total monthly payment, even though rent will be received only on three of the units because the buyer will occupy one.


At 5.00% interest rate the mortgage payment is $3,426. The mortgage insurance is $287. The taxes are $595 and insurance $100 totaling $4,408, PITI. Let's assume the average rent of each unit is $1,470 making the average net rental income from each unit $1,102. ($1,470 x.75% = $1,102) 25% is for the vacancy factor. Since $1,102 x 4 = $4,408 or 100% of the PITI then the buyer will need to have only 3.5% down payment and finance $627,500.


For qualifying the net rental income on three units is treated as income and is not subtracted from the mortgage payment. Since the PITI is $4,408 and FHA qualifies at a 45% ratio then the gross income to qualify is $9,795. ($4,408 / .45% = $9,795) Subtracting the net rental income of the three units from the gross income needed to qualify is what the buyer needs to make on a monthly basis assuming no additional debt. ($9,795 - $3,306 = $6,489) This is equivalent to an annual income of $77,868 the buyer should make to purchase the four units in this example.


Please don't hesitate to contact me with any additional questions you may have

Tim Lorenz

Instant MLS Listings & Free Market Analysis

"We have actually closed many short sales!"

http://www.markandtim.com/

949-282-2521

Beautifully Remodeled Coto De Caza Residence!

 31832 Via Coyote, Coto De Caza



Outstanding Views, Guard Gated Community


One-of-a-kind Custom, Craftsman Style Home


Located in Highly Desired “Village” Neighborhood


Uniquely Designed Around Center Atrium


3 Bedrooms and 3 Full Bathrooms


2,450 sq. ft. (n/t) of Living Space


Brick Hardscape Sidewalk and Oversized Patio


Charming, Cottage Garden Entry


Mountain Views From All Verandas Across Back of Home


Downstairs Master Suite with Custom Master Bath


Gleaming, Solid, Hardware Floors


Family Room Features Fireplace with Emerald Granite Surround


Formal Dining Room, Large Laundry Room


Custom Built-Ins, French Doors, 10’ Ceilings, Crown Moulding


Gourmet Chef’s Kitchen Features Emerald Granite Counters


Center Island with Cook Top and Wine Storage. Double Ovens


Glass Front Cabinets with Upgraded Hardware


2-Car Garage


Lush Mature Landscaping Around Entire Property


Large Lot boasts 6,000 sq. ft. (n/t)


Very Large and Private Backyard


Award Winning School District


No Mello Roos




Proudly Offered $729,500



Keller Wms. Agt. Tim Lorenz
949-282-2521
27101 Puerta Real, Suite 150, Mission Viejo, CA

tim@markandtim.com


Visual Tours at http://www.markandtim.com


Ca.re lic. 00919781

Over 40 Years Experience Representing Home Owners and

Real Estate Investors in Orange County!

Beautifully Remodeled Coto De Caza Residence!

Pending Home Sales Rise!

A few days ago in our local paper an article in the business section states that the Pending U.S. home sales rose in June for the 5th straight month. This statistic came from the National Assoc. of Realtors. It rose 3.6% from 91.3 to 94.6 from May to June. It has been 7 years since we have had 5 consecutive monthly gains.



These statistics were on written contracts to purchase a home and generally they do not turn into solds until the close of the sale a one the two month lag.



Price are low, interest rates are low and a first-time-home buyer incentive (tax credit) of up to $8,000 have all helped the market.



Here in South Orange County we have been reporting this up spike in sales with multiple offers on homes and condo's in the 300,000-600,000 price range. The biggest problem in our market will be the amount of jobless in the area.



These are all good signs of the market turning. The prices have not gone up but sales have increased in the area. This would include Mission Viejo, Aliso Viejo, Laguna Beach, Laguna Niguel, Laguna Hills, Dana Point, San Clemente, San Juan Capistrano, Ladera, Irvine, Newport Coast, Foot Hill Ranch, Portolla Hills, Lake Forest.



It is a perfect time to buy a home. If you need more information contact us. We would be glad to expand on the information.

One of the agents in my office asked me, "What do I do about the low appraisal?" What is happening is a feeding frenzy in our low price market. All of the comps were $380,000 and the price of the home was $410,000 and the highest offer of 6 was $426,000.



Well we all know that the appraisal will and did come in low so:

What do I do with the low appraisal?

Check your numbers and always meet the appraiser. Remember the first person willing to pay the price asked is the new buyer. Have good comps with you. In a lot of instances the law may not allow you to meet the appraiser. Then be ready to talk and show the comps to the lender if needed.

If there aren't any, "What do I do with the low apraisal?" If you have 1 accepted offer and 5 backup offers work the one you have accepted. Ask if they can bring in extra money to close the purchase. If not check with the backup people and see if any of them will be able to bring money to close the transaction.

What if I only have one offer? Negotiate, Negotiate! I hope you know how to negotiations should work. There are many possiblities among them is the buyer comes up with some of the money that is beyond the appraisal and the seller reduces the amount of the property to make up the difference. If it is an REO or a Short Sale see what the bank will do.

When the markets correct this is not an unusual problem at the point of the change. If properties are going up again after a month or two after enough properties get into the system the appraisers will be able to reflect the new market. Change can be a difficult situation.

Too Many Loan Modification Problems.

The Orange County Register had an article that discused loan modifications. The Attorney General was investigating the loan modification companies and stated so few had gone through he was considering baning them in the State of California. The difficulty he had stated was the fact that consumers paid up front fees and were even given guarantees that if the company was unable to do a loan modification they would give there money back. However, moneys were not returned and this area is ripe for even more fraud and loss to the consumer.




Short sales at least you have an oppertunity to sell the property and move on with your life. The seller will have less of a loss than having the foreclosure on their credit report. The short sale forgiveness of debt is also less than a foreclosure. If you are a seller please always check with your accountant and/or your attorney conserning your own personal tax liability.

Great Open Floor Plan & Model Perfect!

23 Mesquite, Wagon Wheel Community in Trabuco Canyon, CA


2 Bedroom, 1 Bathroom Condo

Located in the Dakota Tract of Wagon Wheel

900 sq. ft. (n/t) of Living Space

Living Room Features Gas Fireplace

Easy Care Tile Floors and Plush Carpet

Open Floor Plan Great For Entertaining

Mirrored Wardrobe Doors

Light, Bright and Airy – Lots of Windows

Bathroom has Shower/Tub

Eat-In Kitchen Features White Appliances and Tile Countertops

Sunny Dining Area Leads to Nice Patio

Lots of Storage Throughout

1 Car Attached Garage

Award Winning Capistrano Unified School District

Proudly Offered at $245,000

Keller Wms. Agt. Tim Lorenz


27101 Puerta Real, Suite 150, Mission Viejo, CA                     949-282-2521

email:               tim@markandtim.com

Visual Tour at  http://www.markandtim.com/                                                        

 Ca.re lic  00919781

Over 40 Years Experience Representing Home Owners and Real Estate Investors in Orange County!

Additional pictures can be seen at http://www.markandtim.com/