Here are the numbers for Placentia homes, condos and townhomes as of October 28, 2008: Total Active Homes (including condos & townhomes) : 178 Total Active Single Family Homes:  123 Total Active Condo / Townhomes: 54 Total Short Sale Properties (All Property Types) : 53 Total Bank Owned (REO's) : 29 Total Homes in Escrow (Pending or Backup Offers): 52 Percentage of Homes in Escrow vs. Total Homes on Market:  23%    This is HUGE because going into November last year, the ratio was about 7%.  Home sales are up 3 TIMES what they were a year ago.  This is a sign that..... A) People are Buying Homes and B) Placentia's Home Market is Thawing (Warming Up).  The Pent-Up Demand of buyers waiting on the fence is like water against a dam.  People are seeing the stock market is NOT the place to put... 10/28/2008

Thank you for choosing Premier Plus Financial Services.  We look forward to helping you In an effort to limit risky borrower behavior, Fannie Mae announced a new round of mortgage guideline changes last week.  Unlike previous its previous 20-plus updates that raised income requirements and minimum credit scores (among other changes), Fannie's latestguideline tweaks focus on the value of its underlying mortgage assets -- home equity. Effective December 13, 2008, Fannie Mae will require larger equity positions on some of its insured purchases and refinances.  A few of the updates include: ·         Limiting primary residence, cash out refinances to 85% loan-to-value ·         Requiring 10% down-payments on second/vacation homes ·         Requiring a 25% equity position on all investment ... 10/21/2008

Last week, the Dow Jones Industrial Average recorded both its largest one-day point gain andsecond-largest one-day point loss in history.  Mortgage markets got whipsawed, too. From day to day, huge rate swings made mortgage rate shopping difficult.  It wasn't uncommon for lenders to change pricing 3 times per day. When the week closed, though, rates were lower than at Market Open Monday, marking the first week of improvement in mortgage rates since early-September. Last week's constant mortgage rate movement had several causes: •·         Retail Sales data was weaker than expected •·         The Federal Reserve report showing a slowdown in all 12 regions •·         New evidence that commodity inflation pressures are easing The biggest driver was -- and continues to be -- trader uncertai... 10/20/2008

Private Mortgage Insurance (PMI) is a mortgage lender's insurance policy against highly-leveraged homeowners.  It's typically required when homeowner equity is less than 20 percent at the time of closing. With PMI defaults up 40 percent over last year, private mortgage insurers are taking big losses. They're also taking outsized steps to prevent additional claims going forward and that is bad news for low-equity homeowners and home buyers. The first PMI change new, higher insurance rates. Like home insurers that adjust premiums after a worse-than-expected storm season, PMI insurers are raising mortgage insurance rates for all homeowners, regardless of credit history.  The higher premiums are meant to offset the higher losses. And, the second change is that some PMI firms are discontinu... 10/17/2008

As the stock market dips then jumps then dips again, it's important to remember that markets are unpredictable and nobody knows what will happen tomorrow. Unfortunately, that doesn't stop the analysts from trying. An obvious example comes from May of this year.   As the price of oil crossed $120 per barrel on its way to an all-time high of $147, a Goldman Sachs analyst was quoted as saying that $200 oil was "likely".  It seemed like a logical conclusion at the time. Today, though, just five months after the prediction, the analyst's "likely" scenario looks downright laughable.  Oil is off by more than 40 percent since that day.  And there are hundreds of examples just like this, all around us.  Every day, economic experts and analysts are on television, telling us what's going to happe... 10/16/2008

For many Placentia homeowners with soon-to-adjust adjustable rate mortgages, the recent banking turmoil worldwide may lead to budgetary pain. This is because most conforming ARMs made since 2003 are based on a borrowing cost called LIBOR and LIBOR is up an uncharacteristic 2 percent since September. LIBOR stands for London Interbank Offered Rate and is the rate at which banks lend money to each other.  Historically, LIBOR has tracked the U.S. treasury market,plus a half-percent increase.  This suggests that banks are only slightly less likely to default versus the U.S. government. Today, that spread is close to 4.5 percent. Since Lehman Brothers failed in September 2008, banks are fearful that their peers will meet a similar fate.  Looking at the chart, we can see how LIBOR has respond... 10/15/2008

Throughout the feverish activity on Wall Street last week, mortgage bonds sold off with force, driving mortgage rates to their highest levels since July. It was the fourth straight week in which mortgage rates worsened. But, with the mortgage markets closed Monday, stock markets rallied to their largest one-day gain in history. The Dow Jones' gains are expected to push mortgage rates down Tuesday, but not nearly enough to recover last week's losses.  The market-wide carnage was mostly the result of a fear that has not been completely removed from investor psychology. Until that fear is purged, therefore, expect mortgage rates to move on the dual basis economic data and market mentality.  This will likely lead to rapid rate changes that will make shopping for a mortgage rate difficult. ... 10/14/2008

Given the stock market's recent performance, it's not surprising that gasoline's falling prices are garnering very little attention. That doesn't make it any less relevant, however.  Since peaking in July, gas prices are off by 20 percent. Falling gas prices are an important positive for the U.S. economy because less money spent at the pump means that more money is saved per household for everyday items including food and other staples. In addition, consumer spending makes up two-thirds of the economy.  Therefore, falling gas prices may lessen the impact of a fore-casted recession. Because we Americans are notoriously poor savers, the extra cash-on-hand is likely to get spent which will, in turn, push the economy forward through the upcoming holiday shopping season. So, just as inflati... 10/10/2008

Buyers are returning to the housing market. Each month, The National Association of REALTORS® tracks homes under contract to sell, but whose closing has not yet happened. It calls them "pending sales" and publishes a monthly report to quantify them.  The Pending Home Sales report is important because it's meant to predict future home sales activity. History shows that 80 percent of homes under contract will "close" within 60 days, and most of the rest will close within 120 days.  If Pending Home Sales are up, it's believed, actual home sales will be up, too. In August, Pending Home Sales jumped 7 percent from the month prior, returning to levels not seen in over a year. The report's strength suggests that buyers are returning to the housing market, continuing the trend that started in ... 10/09/2008

  The Federal Reserve made an "emergency rate cut" this morning, dropping the Fed Funds Rate by one half-percent to 1.500 percent. The move is meant to stimulate the U.S. economy. When the Federal Reserve changes the Fed Funds Rate, it often takes 9 months for the changes to work their way through the economy.  On a broad scale, therefore, we won't know if the cut truly "worked" until Summer 2009. But, as it relates to Americans in general, the rate cut spurred two immediate changes. First, because Prime Rate is directly tied to the Fed Funds Rate, Prime Rate fell by 0.500 percent today, too.  That means that interest rates on credit card debt and home equity lines of credit are now lower, reducing monthly interest costs for the majority of American households. The second change is that... 10/08/2008

  Monday, the Dow Jones Industrial Average closed below the psychologically-important 10,000 level for the first time since 2004.  Despite the milestone-marker breach, there was a large group of Americans with reason to cheer.  As stocks sold off, mortgage markets rallied to the benefit of home buyers and mortgage rates shoppers everywhere.  Conforming mortgages rates improved yesterday. Most interesting here is that rates improved for the same reason that the stock market fell.  Because of lingering concerns about the worlds' economies, investors lost their collective appetite for risk Monday.  In response, they sold their stock positions and parked the proceeds in the "safe haven" of U.S. government-backed debt.  The extra demand for safe investments pushed up the prices on mortgage b... 10/07/2008

Have you ever wondered what the Perfect Purchase Transaction would look like? Close your eyes and dream about it for a minute. Few inbound calls. Your cell phone never rings. Clients leave so ecstatic with your service that they hand you three names of people they know who are ready to sell their homes or want to buy in your area. You enjoy shorter workdays during the process because everything clicked. Okay, WAKE UP! The dream has ended Yet, that dream is possible. Although you work in an innately reactive business, it is possible to be proactive and stave off the reactive nature of day-to-day dealings. But, you must create a system. Think through each step of the process and ask yourself, "How can I make this better? "or" "How can I take this reactive activity and be proactive to curt... 09/16/2008

Placentia Bank Repo Sales and Short-Sales ~ Placentia, Orange County CA The City of Placentia like many others in SoCal is not immune to the housing dole-drums experienced in the Southland.  Placentia's current inventory of existing listings is similar to many other surrounding communities when it comes to distressed sales. Placentia's current re-sale inventory vs. foreclosures/short sales and "traditional sales": 172  total properties for sale (down from 204 the month before) ~ of which only 20 are identified as Bank Repos, about  12% of the total inventory. However, when you factor in current short-sale properties that number swells to about 38% of the current inventory. That's right another 46 homes (condos and single family homes) are identified as short-sales or are currently in t... 09/11/2008

Placentia Bank Repos for sale. REOs. Foreclosures. CURRENT List of Placentia Bank Repos for sale at Placentia Bank Repos Buying a bank repo may be a great way to buy a home with built-in equity. Clients of mine recently purchased a home 10% under market by offering more than the asking price. Huh? Well, I educated my buyers on home values, and they knew a good deal when they saw it. We got tired of making offers on 'short sale' listings that were advertised at some ridiculous asking price that the bank would never accept. It was a learning process that they needed to experience. Anyway, there are deals to be made with Placentia bank repos. Remember that these homes are sold in as-is condition with no repairs to be made.Your Best Service in Orange County Featuring Placentia Real Estate a... 09/02/2008

  Ron Holborn | Re/Max NOC | 714-525-0900 507 Dartmouth Dr., Placentia, CA Placentia Pool House 4BR/3BA Single Family House   offered at $670,000 Year Built 1979 Sq Footage 2,950 Bedrooms 4 Bathrooms 3 full, 0 partial Floors Unspecified Parking Unspecified Lot Size 7,000 sqft HOA/Maint $0 per month DESCRIPTION Huge Price Reuduction! Not a Short Sale! 5 Beds & 3 Baths. 5th Bedroom is the bonus room that has closets and counters added for Granny quarters. Incredible Pool Home w/RV parking in highly sought after neighborhood!This nearly 3,000 sqft home has it all. New windows, plantation shutters, Maple hardwood floors, tile floors, new gas stovetop, tile counters,scraped ceilings,new paint inside & out,new refrigerator, washer, dryer located in separate laundry room. Whole house fan syst... 08/26/2008

Placentia, California is quiet residential community very well located in Northern Orange County. The City of Placentia like many others in SoCal is not immune to the housing dole-drums experienced in the Southland.  Placentia's current inventory of existing listings is similar to many other surrounding communities when it comes to distressed sales. Placentia's current re-sale inventory vs. foreclosures/short sales and "traditional sales": 204  total properties for sale for July 2008 ~ of which only 24 are identified as Bank Repos, slightly fewer than 12% of the total inventory. However, when you factor in current short sale properties that total swells to about 35% of the current inventory. That's right another48 homes (condos and single family homes) are identified as short sales in t... 08/24/2008

Located in Placentia at Lakeview and Buena Vista - 2094 Mariposa way   google map   All new windows installed.        Small private yard.      Association pool and spa.   Asking price - $429,900 -Please contact Tina Maraj at 714-403-7901-   Not an REO, or Just a GREAT DEAL! Upgrades FINALLY complete. Looks like a newer contemporary home. Four bed three bath home with two car attached garage. Approx sqft 1639. Freshly painted with scraped and re-textured ceilings. New quality carpeting and custom tile. New lighting throughout. Kitchen amenities include gas range and garbage disposal. New Doors and New Windows. Private Small Yard. Association pool and spa. Local schools include Glenview Elementary, Bernardo Yorba Jr. High and Esperanza High. View this new listing today! 07/24/2008

Incredible Pool Home w/RV parking in highly sought after neighborhood!This nearly 3,000 sqft home has it all. New windows, plantation shutters, Maple hardwood floors, tile floors, new gas stovetop, tile counters,scraped ceilings, new paint inside & out, new refrigerator, washer, dryer located in separate laundry room. Whole house fan system to keep you cool in the summer and keep the central a/c bills down. 4 Beds & 3 Baths plus huge Bonus room with closets & cabinets and counters could be used as a 5th bedroom or granny quarters. One main floor bedroom and bath. Formal dinning room is being used as an office. Large Formal living room with two sided gas fireplace is a focal point between living room and sunk-in living lounge area. Kitchen is set up family style with large den or dinning... 07/18/2008

The City of Placentia's Real Estate Sales remained steady at 25 sales. In the year 2008, Placentia averages 25 sales per month. A few interesting trends : Inventory of homes actively For Sale in Placentia is dropping (287 active homes vs. the avg 315 in the past year) Short Sales, REO Properties, have dropped in Placentia. This is showing a sign of stability for the time being.   All reports presented are based on data supplied by the MRMLS, Orange County, Orange Coast, Pacific West, Downey, Rancho SE AOR, Laguna BOR, and Desert AOR or their MLSs. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not ... 07/02/2008

The Community Services Department is excited to bring you the Movies in the Park series. The movies are played Friday evening's beginning at dusk. Movies are held at Placentia Champions Sports Complex, 505 N. Jefferson,Placentia The cost is free of charge and offers an opportunity for an inexpensive night out for the entire family. All of the movies are family oriented and rated PG. Refreshments are available for a nominal fee. Bring your lawn chairs and blankets for a fun night under the stars. Come early to get a good seat! Look for my family to be there every week. July 11 over the Hedge July 18 Surf's Up July 25 Happy Feet August 1 Bee Movie August 8 Flushed Away August 15 Shrek the 3rd August 22 Water Horse, Legend of the Deep 06/19/2008