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!