Sunday, November 22, 2009

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!"



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!"


949-282-2521


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

Thursday, November 19, 2009

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!"


949-282-2521

Sunday, November 15, 2009

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!"


949-282-2521




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

Sunday, November 8, 2009

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!"


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!"

949-282-2521




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

Sunday, November 1, 2009

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!"


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!"

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!"


949-282-2521






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