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JUST LISTED! OCEAN VIEW 2 BEDROOM END UNIT SAN CLEMENTE

April 13, 2011 1 comment

Please Click on the Link Below!!!!!

http://www.postlets.com/realestate/mini_385.php?pid=5396891

Dave & David Warner
First Team Real Estate
714-870-1028
949-547-0480

Dre #’s 01236069-01236519
callwarner.ft@gmail.com
 

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Orange County Home Sale Activity for Home Sales Recorded in January 2011

February 22, 2011 Leave a comment
Reporting resale single family residences and condos as well as new homes
% Change is from the same month last year
 

Community Zip Median % Chng Sales % Chng
All homes   $415,000 -2.4% 1,929 3.3%
Total resale houses   $480,000 -2.0% 1,249 5.6%
Total condominiums   $282,000 -6.0% 582 -1.7%
Total new homes   $566,000 -6.1% 98 6.5%
Aliso Viejo 92656 $348,000 -4.8% 55 -30.4%
Anaheim 92801 $306,500 -9.9% 29 70.6%
Anaheim 92802 $300,000 -1.0% 13 -13.3%
Anaheim 92804 $325,000 0.2% 43 -10.4%
Anaheim 92805 $295,000 -5.1% 26 4.0%
Anaheim 92806 $365,000 -5.2% 10 -60.0%
Anaheim 92807 $398,000 -8.5% 16 -33.3%
Anaheim 92808 $525,000 4.0% 23 53.3%
Brea 92821 $440,000 -7.0% 23 21.1%
Brea 92823 $652,500 -21.4% 4 0.0%
Buena Park 90620 $367,500 -5.3% 26 -7.1%
Buena Park 90621 $319,500 -8.7% 22 69.2%
Corona del Mar 92625 $1,255,000 -13.1% 18 100.0%
Costa Mesa 92626 $500,000 0.0% 21 -4.5%
Costa Mesa 92627 $450,000 25.0% 30 76.5%
Cypress 90630 $450,000 0.0% 25 13.6%
Dana Point 92624 $610,000 10.4% 3 -50.0%
Dana Point 92629 $555,500 5.1% 20 -9.1%
Foothill Ranch 92610 $475,000 -19.5% 11 22.2%
Fountain Valley 92708 $571,000 1.9% 28 -6.7%
Fullerton 92831 $300,000 -37.4% 19 72.7%
Fullerton 92832 $317,500 -9.3% 12 -36.8%
Fullerton 92833 $400,000 -8.2% 39 34.5%
Fullerton 92835 $689,000 22.5% 12 -40.0%
Garden Grove 92840 $336,000 -4.0% 34 9.7%
Garden Grove 92841 $360,000 -10.0% 18 20.0%
Garden Grove 92843 $344,500 18.8% 21 -8.7%
Garden Grove 92844 $325,000 14.0% 15 15.4%
Garden Grove 92845 $421,000 -11.4% 11 83.3%
Huntington Beach 92646 $438,500 -11.4% 39 21.9%
Huntington Beach 92647 $446,750 -18.4% 22 10.0%
Huntington Beach 92648 $470,000 -32.4% 25 4.2%
Huntington Beach 92649 $467,500 -20.0% 25 38.9%
Irvine 92602 $675,000 13.1% 13 -7.1%
Irvine 92603 $740,000 -11.8% 15 0.0%
Irvine 92604 $465,750 -3.2% 17 70.0%
Irvine 92606 $615,000 8.1% 9 80.0%
Irvine 92612 $501,500 -3.6% 18 20.0%
Irvine 92614 $499,000 11.4% 11 -8.3%
Irvine 92618 $497,500 65.8% 17 88.9%
Irvine 92620 $583,250 5.8% 47 95.8%
Ladera Ranch 92694 $621,500 38.1% 22 -48.8%
La Habra 90631 $310,000 11.5% 21 -36.4%
La Palma 90623 $395,841 -16.2% 8 33.3%
Laguna Beach 92651 $1,000,000 -11.1% 30 76.5%
Laguna Hills 92653 $455,000 26.7% 25 8.7%
Laguna Niguel 92677 $565,000 4.6% 55 -11.3%
Laguna Woods 92637 $227,000 24.0% 23 -25.8%
Lake Forest 92630 $316,000 -16.8% 39 5.4%
Los Alamitos 90720 $645,500 -9.3% 10 0.0%
Midway City 92655 $360,000 -12.6% 3 50.0%
Mission Viejo 92691 $480,000 3.8% 28 -30.0%
Mission Viejo 92692 $499,500 5.2% 58 56.8%
Newport Beach 92660 $1,190,000 -11.2% 25 4.2%
Newport Beach 92661 $2,575,000 -47.2% 2 0.0%
Newport Beach 92662 $2,395,000 55.0% 1 0.0%
Newport Beach 92663 $920,000 -6.8% 19 18.8%
Newport Coast 92657 $1,445,000 7.8% 14 40.0%
Orange 92865 $341,000 -16.1% 14 -46.2%
Orange 92866 $430,000 -12.5% 4 -33.3%
Orange 92867 $437,500 -9.8% 16 -23.8%
Orange 92868 $224,500 -28.4% 6 -60.0%
Orange 92869 $440,000 0.5% 28 27.3%
Placentia 92870 $414,000 -3.7% 24 -29.4%
Rancho Santa Margarita 92688 $365,000 -16.1% 51 50.0%
San Clemente 92672 $615,000 -6.5% 27 -6.9%
San Clemente 92673 $605,000 1.0% 31 29.2%
San Juan Capistrano 92675 $389,000 22.5% 33 22.2%
Santa Ana 92701 $121,500 -2.8% 18 -5.3%
Santa Ana 92703 $255,000 21.4% 33 57.1%
Santa Ana 92704 $235,000 -20.3% 39 -18.8%
Santa Ana 92705 $552,500 76.8% 25 -7.4%
Santa Ana 92706 $327,500 -7.7% 18 -10.0%
Santa Ana 92707 $225,000 -7.2% 33 17.9%
Seal Beach 90740 $797,500 9.2% 8 -11.1%
Stanton 90680 $217,500 -29.5% 20 42.9%
Trabuco/Coto 92679 $615,000 0.8% 26 -25.7%
Tustin 92780 $403,000 10.4% 31 6.9%
Tustin 92782 $562,500 17.2% 12 -50.0%
Villa Park 92861 $825,000 -7.8% 2 -33.3%
Westminster 92683 $400,000 -4.1% 47 -4.1%
Yorba Linda 92886 $561,000 -19.0% 44 -25.4%
Yorba Linda 92887 $507,500 -21.7% 17 6.3%

From Data Quick

Dave & David Warner

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Just Listed – Lease in Fullerton

February 8, 2011 Leave a comment

 

Callwarner.wordpress.com/Fern

Spectacular Views...Disneyland Fireworks, city lights, Walk to all schools and all colleges and beautiful downtown Fullerton. A beautiful 5 bedroom home. One bedroom is a small suite off the front entrance. Great yard for kids and pets.

Click on the Link below or all the information on this property.

http://www.postlets.com/rentals/mini_385.php?pid=5079793

Dave & David Warner

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Southern California Home Sales End 2010 Up from November, Down from ‘09

January 18, 2011 Leave a comment
January 18, 2011

La Jolla, CA—Southland December home sales shot up more than usual from November but fell well short of last year as a sluggish job market, tight credit, and record-low new-home sales undermined the market. At the regional level the median sale price hovered barely above the year-ago mark, while it fell in four individual counties, a real estate information service reported.

Last month 19,528 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties. That was up 20.5 percent from 16,208 in November, but down 12.5 percent from 22,328 in December 2009, according to DataQuick Information Systems of San Diego.

A November-to-December sales increase is normal for the season, with the gain averaging 12.9 percent since 1988, when DataQuick’s statistics begin.

“Ultra-low mortgage rates, coupled with lower prices, gave the market a boost this fall, helping to explain the above-average gain in closings between November and December. We still see the potential for sales to perk up this spring if rates stay low and brighter economic news lifts consumer confidence. Of course, a loosening of credit terms would help an awful lot, too, especially in move-up markets,” said John Walsh, DataQuick president.

“Looking back at 2010, it’s hard to ignore the ongoing slump in the Southland’s new-home market,” he continued. “Last year we saw the lowest sales by builders in two decades – less than half the annual average since 1988. 2009 wasn’t much better. What happens next will hinge largely on the pace of the economic recovery and the manner in which lenders manage their inventories of distressed properties, which are competition for new homes.”

Last month’s total home sales, all new and resale houses and condos combined, were the lowest for that month since December 2007, when 13,240 sold, and the second-lowest since 1995. Last month’s total sales fell 21.6 percent below the average December sales tally of 24,899.

December new-home sales were the lowest for that month in DataQuick’s records back to 1988. New-home sales for all of 2010 also hit a record low.

The median price paid for a Southland home last month was $290,000, which includes all new and resale houses and condos. That was up 1.0 percent from $287,000 in November, and up 0.3 percent from $289,000 in December 2009. However, the 0.3 percent annual gain was the lowest since the median began rising year-over-year each month since December 2009.

The median’s low point for the current real estate cycle was $247,000 in April 2009, while the high point was $505,000 in mid 2007. The peak-to-trough drop was due to a decline in home values as well as a shift in sales toward low-cost homes, especially inland foreclosures.

At the county level last month, the overall median sale price fell on a year-over-year basis in Los Angeles (-2.7 percent), Orange (-5.7 percent), San Bernardino (-1.3 percent) and Ventura (-1.4 percent) counties, while San Diego and Riverside counties recorded small gains of 0.9 percent and 2.0 percent, respectively.

The median price for the largest home-type category – resale single-family detached houses – fell year-over-year last month in Los Angeles (-1.2 percent), Orange (-6.0 percent) and San Diego (-1.4 percent) counties.

Foreclosure resales – homes foreclosed on in the past year – accounted for 34.3 percent of the resale market last month, down from 35.2 percent in November and 39.6 percent a year ago. Foreclosure resales hit a low this year of 32.8 percent in June and had generally trended slightly higher until last month. The peak was in February 2009 at 56.7 percent, DataQuick reported.

Government-insured FHA loans, a popular low-down-payment choice among first-time buyers, accounted for 33.0 percent of all mortgages used to purchase homes in December, down from 36.2 percent in November and 35.5 percent in December 2009. Two years ago FHA loans made up 35.0 percent of the purchase loan market, while three years ago it was just 2.8 percent.

Last month 21.1 percent of all sales were for $500,000 or more, the same as November but up from 20.7 percent a year earlier. The low point for $500,000-plus sales was in January 2009, when only 13.6 percent of sales crossed that threshold. Over the past decade, a monthly average of 26.9 percent of homes sold for $500,000 or more.

Viewed differently, Southland zip codes in the top one-third of the housing market, based on historical prices, accounted for 37.4 percent of total sales last month. That was up from 35.2 percent in November and 34.8 percent a year ago. Over the last decade, those higher-end areas contributed a monthly average of 37.2 percent of regional sales. Their contribution to overall sales hit a low of 26.2 percent in January 2009.

High-end sales still suffer from tight credit policies. Adjustable-rate mortgages (ARMs) and so-called jumbo home loans have been relatively difficult to get ever since the credit crunch hit more than three years ago.

Last month ARMs represented 6.4 percent of Southland purchase loans, up from 5.6 percent in November and 4.4 percent a year ago. However, over the past decade, a monthly average of 38.1 percent of purchase loans were ARMs.

Jumbo loans, mortgages above the old conforming limit of $417,000, accounted for 18.0 percent of last month’s purchase lending, about the same as in November and up from 16.7 percent a year earlier. But back in 2007, in the months leading up to the credit crisis that began in August that year, jumbos accounted for 40 percent of the market.

Absentee buyers – mostly investors and some second-home purchasers – bought 22.7 percent of the homes sold in December, paying a median $215,000. Over the last decade, absentee buyers purchased a monthly average of 16.1 percent of all homes, while the peak level was 23.2 percent last February.

Buyers who appeared to have paid all cash – meaning there was no indication that a corresponding purchase loan was recorded – accounted for 27.2 percent of December sales, paying a median $212,000. In February last year, cash sales peaked at 30.1 percent. The 10-year monthly average for Southland homes purchased with cash is 12.7 percent.

The “flipping” of homes has generally trended higher over the past year. Last month the percentage of Southland homes bought and re-sold within a six-month period was 3.5 percent, the same as in November but up from 3.2 percent a year earlier. Last month’s flipping rates varied from as little as 2.8 percent in Ventura County to as much as 3.8 percent in Los Angeles County.

DataQuick Information Systems monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

The typical monthly mortgage payment that Southland buyers committed themselves to paying was $1,205 last month, up from $1,136 in November but down from $1,231 in December 2009. Adjusted for inflation, current payments are 46.4 percent below typical payments in the spring of 1989, the peak of the prior real estate cycle. They are 56.1 percent below the current cycle’s peak in July 2007.

Indicators of market distress continue to move in different directions. Foreclosure activity remains high by historical standards but is lower than peak levels reached over the last two years. Financing with multiple mortgages is very low, and down payment sizes are stable, DataQuick reported.

Sales Volume Median Price
All homes Dec-09 Dec-10 %Chng Dec-09 Dec-10 %Chng
Los Angeles 7,679 6,536 -14.90% $339,000 $330,000 -2.70%
Orange 2,885 2,739 -5.10% $435,000 $410,000 -5.70%
Riverside 4,282 3,696 -13.70% $196,000 $200,000 2.00%
San Bernardino 2,934 2,605 -11.20% $154,000 $152,000 -1.30%
San Diego 3,652 3,191 -12.60% $330,000 $333,000 0.90%
Ventura 896 761 -15.10% $360,000 $355,000 -1.40%
SoCal 22,328 19,528 -12.50% $289,000 $290,000 0.30%

Source: DQNews.com
Dave & David Warner

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Irvine…..For Developer, California Dream Is a Reality

January 4, 2011 3 comments

In the latest sign that financing is starting to trickle back into California’s property market, a group of investors is pumping cash into a huge, but stalled, $1.4 billion master-planned community being developed on the site of a former military base.

Under terms of the investment, Boston-based State Street Bank & Trust Co., a unit of State Street Corp., and a group of investors that includes several private-equity funds and pension funds will provide $400 million in cash and credit to the project, called Heritage Fields at El Toro. The project, in Irvine, Calif., is being developed by Five Point Communities Inc., a company that is majority-owned by home builder Lennar Corp.

The transaction represents a significant step forward for Five Point, which like other developers has struggled to find financing for horizontal development, or the work that goes into building roads, sewers and other infrastructure that needs to be laid before homes and commercial buildings can be built.

By the end of 2010,  the company had invested more than $1.3 billion in the project, and needed at least $400 million to get the development moving again. Emile Haddad, Five Point’s chief executive and controlling partner, said construction of the first homes should begin in 2012.

The transaction also shows how nontraditional sources of capital are starting to migrate into California’s housing market, one of the few markets in the country that is showing pockets of strength. Hedge funds, in particular, have emerged as a go-to source for the financing of land ventures.

The Orange County Register/Zuma PressThe former El Toro naval base is being redeveloped into a master-planned community in Irvine, Calif.

“If you look at the folks in the housing industry who are actually putting construction dollars back to work for horizontal and vertical development, you can count them on one hand,” said Tom Reimers, a Southern California land broker with Land Advisors Inc. “We’re going to need private equity to move things along. It’s new blood, new money.”

Heritage Fields at El Toro calls for 5,000 new homes, 5.2 million square feet of commercial space and a public park twice the size of New York’s Central Park. The development is being built on the site of a former naval air base in Orange County, which once was used by President Richard M. Nixon, who often flew on Air Force One to his home in nearby San Clemente.

Lennar purchased El Toro from the Navy at the height of the housing boom in 2005, borrowing $775 million from Lehman Brothers Holdings Inc. to finance the purchase of the land. Lennar added about $700 million more in equity from its own funds and from investors, including two affiliates of private-equity company Cerberus Capital Management LP, investment firm Rockpoint Group LLC, and computer tycoon Michael Dell’s MSD Capital LP.

Under a separate agreement, Lennar will buy out Cerberus’s stake in the project, although Mr. Haddad declined to provide details on the stake. “This is definitely one of the most complicated deals I’ve ever worked on,” Mr. Haddad said.

An overleveraged Lehman, burdened by a number of huge commercial real-estate investments like the El Toro project, filed for bankruptcy protection in September 2008. In December 2010, a federal bankruptcy judge in New York approved the sale of the $775 million Heritage Fields mortgage note to State Street for $153 million.

After what Mr. Haddad described as several months spent crisscrossing the country for meetings in Boston, New York and California, Five Point closed on the restructuring deal two days before New Year’s Eve. State Street agreed to reduce the outstanding debt balance on the deal to $210 million, then gave the developers a $180 million line of credit to complete land development.

By putting more money into the deal, State Street is taking a big bet that Mr. Haddad can get the project up and running in short order, and start producing strong cash flows from selling home sites and land for commercial buildings to builders, who will then construct and build homes and office and retail properties.

But the project isn’t a slam dunk. The economy remains weak and while the California housing market has improved, it isn’t clear that the market can support such a project.

“Everyone is talking about residential land deals as if they are all the same. My view on this is simple. Not all deals are the same. Not all locations are the same. And not all management is the same,” Mr. Haddad said. “This is the right deal, in the right location.”

Mr. Reimers, the Irvine land broker, said the Irvine area is expanding. Several companies have located in and around the nearby Irvine Spectrum commercial center, including drug-makerAllergan Inc., computer company Western Digital Corp. and the University of California, Irvine, providing jobs.

“Putting a significant amount of money to work in an Irvine master-planned community is probably as low risk as you can go,” he said.

By ROBBIE WHELAN

The Wall Street Journal

Dave & David Warner

Home Sales in California

January 4, 2011 Leave a comment

An estimated 31,403 new and resale houses and condos were sold statewide last month. That was down 3.9 percent from 32,669 in October, and down 12.4 percent from 35,860 for November 2009. California sales for the month of November have varied from a low of 25,578 in 2007 to a high of 60,326 in 2004, while the average is 39,987. MDA DataQuick’s statistics go back to 1988.

The median price paid for a home last month was $255,000, down 0.4 percent from $256,000 in October, and down 2.3 percent from $261,000 for November a year ago. The year-over-year decrease was the second in a row after eleven months of increases. The bottom of the current cycle was $221,000 in April 2009, while the peak was at $484,000 in early 2007.

Of the existing homes sold last month, 37.8 percent were properties that had been foreclosed on during the past year. That was up from a revised 36.7 percent in October and down from 40.1 percent in November a year ago. The all-time high was in February 2009 at 58.5 percent.

The typical mortgage payment that home buyers committed themselves to paying last month was $1,010. That was up from $1,005 in October, and down from $1,106 in November 2009. Adjusted for inflation, last month’s mortgage payment was 53.3 percent below the spring 1989 peak of the prior real estate cycle. It was 62.1 percent below the current cycle’s peak in June 2006.

MDA DataQuick is a division of MDA Lending Solutions, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. MDA DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.

Indicators of market distress continue to move in different directions. Foreclosure activity has declined somewhat but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, cash and non-owner occupied buying is up, MDA DataQuick reported.

This article is for Home sales in California, November 2010

Source: MDA DataQuick; DQNews.com

Dave & David Warner

Wells Fargo Annual Economic Outlook 2011

December 14, 2010 2 comments

 

Wells Fargo Annual Economic Outlook 2011

Thank you,  Mike Harper

Dave & David Warner