Brea, CA Real Estate News

By Robert Foust, North Orange County | Fullerton Real Estate | Brea
(Foust Team Real Estate Sales, Master Certified Negotiation Expert)
I have to say that answering the phone is the real key.  Clients today want instant answers and not to leave a message.  I know it is hard, but seriously if you don't answer the phone someone will.  And that someone will get the customers, it's that simple.  More and more today clients will not wait for call backs - they will just "google" someone else -- that will be your loss.  The day of callbacks is gone for 80-90% of the public.  I'm not saying that it is right or fair, just the facts of life.
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By Lynda Eisenmann, Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co
(Preferred Home Brokers)
Brea, California is a great place to call home. We all know that Orange County is home to the Happiest Place on Earth, Disneyland of course! Yet a day trip may not always fit in the family budget. Like many communities one only needs to look around to find low cost or no cost activities or events. Just take the time to discover the opportunities in your own back-yard. Here's a list of some of my favorites in good ole' Brea: For the art lovers around town, Brea's Art In Public Places is a true delight. Over 130 works of art in a variety a mediums are local treasures ready for discovery. To see these daily is something I never take for granted, they just make my day around town that much better. And not that I've seen them all, every now and then I discover a new one and it's always a tre...
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By Lynda Eisenmann, Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co
(Preferred Home Brokers)
Brea, CA Residential Real Estate Sales Report ~ Brea Home Sales for February 2009.   Single Family Homes for February: Average asking price was $627,000 for a home with 2,330 square feet. 65 re-sale homes were  for sale, compared to 94 and 95 for the past two months.    12 pending sales, as compared to 20/16/36/30/27/27/24 preceding months.   12 homes closed in February compared to  13/20/11/28/30/24/20/14/21/13/88 respectively in the past 12 months.  Average selling price for Feb. was $576,450 for a home with an average of 2,183 square feet. The average days on the market was 86. Condominium activity for February: 6 condo/town-homes were for sale, compared to 12/9/13 in the past few months.  3 pending sales went into escrow in Feb. compared to  1/4/3/1/5/7/2/1/1/5/2/2 since the beginni...
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By Sheila Buonauro
(Coldwell Banker Excellence)
If you are a buyer in today's market you've heard the term countless times. While these properties seem to be a better deal, you know that it can take anywhere from 2 -4 months to close escrow on a short sale. It's a waiting game. If you are a homeowner in today's market you watch these ‘short sales' in your neighborhood sometimes close at prices below market value. You wonder what it will do to the value of your own home - especially with a seemingly increasing amount of short sales across the nation. A year or two ago the term was rarely used, while today, it is used in every day real estate talk as often as we say ‘refinance' or ‘interest rates'. It seems to make sense according to CNNMoney who says that "1 in 5 mortgages [are] underwater" as of the beginning of the month.   When one...
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By Sheila Buonauro
(Coldwell Banker Excellence)
If you turn on the television or pick up a newspaper you will hear about this stimulus package, that prevention plan, a billion dollars for this, and a potential deficit that has risen above the trillion dollar mark. Is it good, bad, or neither? As a homeowner in the US, and more specifically here in North Orange County, what does all of this mean for YOU? Details for President Obama's Foreclosure Prevention Plan are said to be released on March 4th, 2009. Until that day comes, I wanted to share with you some of the answers that the LA Times provided this week in their Q & A article "How the Obama plan will affect Homeowners." Who is it for? The worry is that the plan will reward those who made poor decisions when applying for a mortgage and do nothing for those homeowners who have rema...
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By Lynda Eisenmann, Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co
(Preferred Home Brokers)
Brea Bank Repos and Brea Foreclosure Sales for February 2009  ~ Brea, Orange County CA Our community of Brea, CA like other cities in So Cal, is not immune to the downturn in the housing market.  Brea's current inventory of existing listings is similar to many other surrounding communities when it comes to distressed sales. Here's a snap-shot of Brea's bank foreclosures and distressed sales: Brea's population is 39,000 residents. 94 homes are currently listed in the MLS for sale in Brea. 7 Homes are identified in the MLS as being bank repossessions, bank owned homes. Prices range from $349,000 to $540,000. (All of these are single-family homes.) Another 29 homes are identified in the MLS as a short-sale or pre-foreclosure. (Single family and condos alike.) So now that you know the numbe...
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By Nic Petrossi, NIC PETROSSI
(TNG Real Estate Consultants)
There are 5 things you can do when you realize you can no longer make your mortgage payments: Nothing Deed in Lieu (Hand the Title, and keys, back to bank) Short Sale Bankruptcy Loan Modification All of these options will adversely affect your credit.  However, some options ARE better than others. For example, the on the severity scale of how bad your credit will take a hit, on a scale of 1 to 10, an outright foreclosure or bankruptcy is like an 11.  The Deed in Lieu is probably the dumbest thing to do because the bank will let you stay in the home rent free for a while anyhow while you work this all out. A Loan Modification is the best route to take, but you have to know what you're doing.  There are only a handful of legitimate Loan Modification companies out there that know how to ha...
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By Nic Petrossi, NIC PETROSSI
(TNG Real Estate Consultants)
There is a program out there called MAP, County of Orange Mortgage Assistance Program. To qualify, you must ... Be a first-time home buyer Depending on the number of household residents 18 and over...for a single person, they must make $52,100 or less.  For 2 people they must make $59,500 or less combined, for 3 people living in the house, they must make $66,950 or less combined, 4 people is $74,400 Be a U.S. Citizen or Permanent Resident Alien Must contribute 1% from your own funds Must complete homeownership education seminar Here's what's awesome:   You only have to come up with 1% of the purchase price as opposed to FHA's 3.5%! The program gives you $40,000 as a silent (deferred payment) downpayment assistance loan for lower-income makers for the participating cities of: Aliso Viejo...
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By Nic Petrossi, NIC PETROSSI
(TNG Real Estate Consultants)
There are 5 things you can do when you realize you can no longer make your mortgage payments: Nothing Deed in Lieu (Hand the Title, and keys, back to bank) Short Sale Bankruptcy Loan Modification All of these options will adversely affect your credit.  However, some options ARE better than others. For example, the on the severity scale of how bad your credit will take a hit, on a scale of 1 to 10, an outright foreclosure or bankruptcy is like an 11.  The Deed in Lieu is probably the dumbest thing to do because the bank will let you stay in the home rent free for a while anyhow while you work this all out. A Loan Modification is the best route to take, but you have to know what you're doing.  There are only a handful of legitimate Loan Modification companies out there that know how to ha...
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By Nic Petrossi, NIC PETROSSI
(TNG Real Estate Consultants)
There are 5 things you can do when you realize you can no longer make your mortgage payments: Nothing Deed in Lieu (Hand the Title, and keys, back to bank) Short Sale Bankruptcy Loan Modification All of these options will adversely affect your credit.  However, some options ARE better than others. For example, the on the severity scale of how bad your credit will take a hit, on a scale of 1 to 10, an outright foreclosure or bankruptcy is like an 11.  The Deed in Lieu is probably the dumbest thing to do because the bank will let you stay in the home rent free for a while anyhow while you work this all out. A Loan Modification is the best route to take, but you have to know what you're doing.  There are only a handful of legitimate Loan Modification companies out there that know how to ha...
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By Lynda Eisenmann, Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co
(Preferred Home Brokers)
Brea's New Sport Park ~ It's A Party & You're Invited! It's finally here, the opening of Brea's brand new sports park! Mark your calendar and plan on attending, this coming Saturday, February 14th! It's a great event, the long awaited grand opening of our new Sports Park in the City of Brea at 3333 Birch Street, the corner of Birch and Valencia at the eastern side of Brea. The site is 26 improved acres and home to baseball and softball fields in addition to batting cages and a pratice field. Like soccer? Check out the facilities here.  Or maybe the basketball courts, it's all here. There's even a playground and concession areas, something for everyone. Events begin Saturday at 9:00 a.m. Help celebrate with your friends and neighbors. The site was purchased from UNOCAL, a total of 39 acr...
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By Jared Tafua
(Prudential California Realty)
There is some great news out there to help those looking to buy a home and even greater news for investors. Fannie Mae, which is the agency sponsored by the U.S. government to help make housing affordable, is now offering great loan programs. Here are some KEY details on the two Fannie Mae's HomePath financing products. - Only 3% down required on a primary residence - No mortgage insurance* - No property appraisal fees - Only 10% down on 1-2 unit investment properties ( INVESTORS KNOW, THIS IS HUGE) - Get up to 6% in seler concessions on primary residence properties   This is directly from Fannie HomePath Mortgage Financing is availble for properties for sale by FannieMae which display this logo    - Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest...
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By Lynda Eisenmann, Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co
(Preferred Home Brokers)
Brea, CA Residential Real Estate Sales Report ~ Brea Home Sales for January 2009.  For the record, the temperature in So Cal today was a beautiful 80 degrees. Single family sales activity for January, prices range from $199,000 to $1,180,000.  All but two were priced under $1,000,000. Average asking price was $627,000 for a home with 2,330 square feet. 94 re-sale homes currently for sale, almost idential to last month at 95 which was down about 10% from two months ago.    20 pending sales, exactly the same as December and compared to 16/36/30/27/27/24 preceding months.   13 homes closed in January compared to 20/11/28/30/24/20/14/21/13/8/8 respectively in the past 12 months.  Average selling price for January was $684,576 for a home with 2,627 square feet. Condominium sales activity for...
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By Ron Holborn, Commercial & SFR, Anaheim CA, Real Estate & Short
(Short Sales, Foreclosures, Rentals, Income Real Estate)
New martini bar to open in Brea Downtown: Sky Lounge The Sky Lounge, described by owner Sean Francis as an upscale, "1960s mid-century modern" establishment in Brea Downtown, is scheduled to open in about  a month or so. The 12,000-square-foot martini bar is situated on the second floor of a building on the south end of Birch Street and will offer views of downtown from virtually any booth and its outdoor patio. "It's a unique space," Francis said. "It's just amazing." Amenities include windows that slide open to create an outdoor feel, cigar lockers and a high-end wine and liquor list. Mood music played at conversation level will be piped in via a sound system. "It's really a before- and after-dinner place," Francis said. "You can go to dinner and finish your night at the Sky Lounge." ...
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By Todd Foust, North Orange County, Anaheim Real Estate Brea Rea
(FOUST Team Real Estate)
Real estate in Brea, California, has seen some drastic changes in the last ten years. These changes have all been for the better and helped to transform a sleepy little Orange County city into a highly desired place to call home. Because of this, the city of Brea rates very high on our Orange County Real Estate area rating system.  Brea Real Estateguides will help the consumer discover Brea.
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By Robert Foust, North Orange County | Fullerton Real Estate | Brea
(Foust Team Real Estate Sales, Master Certified Negotiation Expert)
In today's market, all of the buyers out there must have a email address.  Having an email account will let the agent help you look for property as well as let you know when a real deal shows up.  The old system of searching and then sending paper by US mail to a client is just to slow for the real world of today.  If the buyer is not computer friendly, then use the account of the family or friends.  If you want to find the best properties, then immediate access is critical -- otherwise someone else finds the "golden nugget".
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By Robert Foust, North Orange County | Fullerton Real Estate | Brea
(Foust Team Real Estate Sales, Master Certified Negotiation Expert)
More and more we are providing the basics of understanding for REO homes to our buyers.  By utilizing our blog, we have been able to put up a series of informative posts about the in and outs of this kind of real estate searching and buying.  We send our buyers (or any for that matter) to www.foustonline.blogspot.com to read and learn from our series of articles.  They love it, because they can learn quickly and go back to reread at any time in the future. The Foust Team Real Estate Blog has become a strong tool in our campaign to educate the buyers on North Orange County Real Estate.  Give it a try, let us hear your feedback  - - that is how we improve, thanks.
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By Nic Petrossi, NIC PETROSSI
(TNG Real Estate Consultants)
Proudly serving Brea, Yorba Linda, Placentia, Anaheim Hills, Irvine, Fullerton, Tustin, Villa Park, Orange, Orange Park Acres and surrounding areas.  I am a top-producing real estate agent with Prudential CA Realty in Brea in the Home Depot Shopping Center on Imperial Highway. My website ----->   WEBSITE Phone ---------->  (714) 272-3646   (text messages are fine) Email ----------->  Npetrossi@yahoo.com    Check out my video introduction on my website (link above) and learn more about me, read testimonials, view my current active listings and recent sold listings and search the MLS for free.
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By Cristal Drake, Realtor - Fullerton Real Estate
(Prudential California Realty)
Today I found out about an upscale resale boutique in Brea, CA.  I love a deal so I headed on over to see what it was all about. Boy, was I shocked when I walked into what looked like an expensive boutique!  Only it wasn't expensive at all. As I wandered around the manager, Mimi and I started chatting.  Imagine my surprise when I found out that .96 on ever dollar supports Working Wardrobes programs to get adults in crises back to work!  I had to clarify; "You mean, I get a great deal on some fabulous clothes AND support a worthwhile cause? SOLD! The Hanger at Brea is one of three boutiques that is operated by Working Wardrobes.  They had just about anything you could imagine from accessories to suits and more.  I just kept thinking, "man, I wish I would have found this place before the ...
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By Lynda Eisenmann, Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co
(Preferred Home Brokers)
Brea, CA Residential Real Estate Sales Report ~ Brea Home Sales for December 2008 proved to be an active market. Single family  in addition to condo home sales and closings were up from prior month. Single family sales activity for December, prices range from $199,000 to $1,180,000.  All but five were priced under $1,000,000. Average asking price was $655,000 for a home with 2,383 square feet. 95 re-sale homes currently for sale, down about 10% from last month.    20 pending sales, currently in escrow, up from last month, compared to 16/36/30/27/27/24/17/23/12/16 in prior months.  21 homes closed escrow in December, almost double for Nov. and compared to /11/28/30/24/20/14/21/13/8/8/13/13/23, respectively in prior months. Average selling price for December was $537,000 for a home with 2...
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