THE STATE OF REAL ESTATE: You Haven’t Missed The Boat!

The national average for a 30-year fixed rate mortgage crept up by 0.27% in the past month, causing home buyers to worry that they may have “missed the boat” and their opportunity to act on the market. Add to this the recent run up in home prices in some areas due to investor activity and it’s easy to understand the anxiety. 

The State of Real Estate: You haven't missed the boat!

It’s true:  investors have helped drive up the price of real estate in many parts of the country where distressed homeowners were forced into short sale or foreclosure situations. Bidding wars on bargain properties helped push prices up and, when combined with a cash offer, out of the reach of most lender-financed buyers.

Some analysts believe the investment property buying spree is beginning to level off, making it easier for traditional home buyers to compete for winning bids on their property of choice.

Reuters’ Margaret Chadbourn writes that investors are pulling back from the housing market as mortgage rates creep up in anticipation of the Federal Reserve scaling back on stimulus funding that came in response to the economic crisis that began in 2007.¹

Prices aside, it’s important to remember that even with the recent modest increases, mortgage rates are still in historically low territory.

Reporting on an investor conference in New York this week, Bloomberg’s Dakin Campbell shared the assertion of Wells Fargo CFO, Tim Sloan:

“We don’t believe that the recent increases in mortgage rates are going to in any way, shape or form snuff out the housing recovery. When you look at any sort of statistics in the demographics in terms of household creation as well as household affordability, they are still very attractive and should drive a continued recovery in the housing business.”²

The news is good for sellers. In Yorba Linda, for example, prices have climbed by double digits in every home size category compared with the same period in 2012.  Yet from a buyer’s standpoint, the average price for a 3-bedroom home in Yorba Linda has only increased 1% over 2008 levels. Also good news! ³

This may be one of those rare moments in real estate history where market conditions in areas like Yorba Linda are great on both sides of the deal!

Are you interested in moving to Yorba Linda and ready to look for a home in the area? Or are you a property owner and feel that the time is right for you to sell? Whatever your real estate goals, give me a call to schedule a free consultation about your options in this dynamic market.

¹Reuters

²Bloomberg

³Trulia

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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LABOR DAY WEEKEND: Don’t Take a Home Security Holiday!

In just a few days we’ll pause to celebrate one of the nation’s oldest holidays, established 119 years ago as a federal day of observance to honor the economic and social contributions of the American worker.

Don't give home security a vacation!

Today, Labor Day is popularly celebrated as a farewell to summer, marked by picnics, backyard barbecues, or last-minute getaways for families on the verge of a new school year. For retailers it’s one of the biggest sale weekends of the year, with many of their workers clocking in that day, and some even working longer hours. Ironic, isn’t it?

If you’re one of the millions planning to head out for a 3-day escape from the cares of the work week, make sure you take some simple steps to protect your home and property while you’re away.

1. Lock It Up:  You might think it goes without saying, but many people forget to check that their windows and doors are locked before leaving home.  

2. Tell Someone:  Tell your next-door neighbor to be aware of unfamiliar people or vehicles parked at your house. Even better, ask a neighbor to park one of their cars in your driveway while you’re away to give the impression someone is home.

Another important and often overlooked security measure is to notify your local law enforcement agency that you will be away, as well as who is allowed to be on your property during your absence. Many police departments will conduct free vacation checks on households if advance notice is given. Check your local agency’s website for program information.

3. Set Your Alarm:  Do you have a home security alarm? It’s useless unless it’s activated, so be sure to set it before leaving! Also, notify the service provider that you’ll be away, and give them a local emergency contact in your absence.

4. Leave a Light On:  Don’t broadcast the fact of your absence to intruders by leaving all your lights off at night. Light timers are an inexpensive intruder deterrent. Some units even come with multiple settings to turn on lights, radios, or televisions at different intervals at night. You can find timers at your local home improvement store.

5. Fido, STAY!  Have a dog? Consider leaving Fido home and ask a neighbor to look in on him morning and evening while you’re away. Barking dogs are a big deterrent to burglars. And so is the presence of a caretaker a couple times a day.

6. STOP the Presses:  Stop delivery of your newspaper for the days you are gone, or ask a neighbor to collect them promptly each morning. The same goes for your mail or any other regular deliveries that may fall on a day you’re away, including trash collection. Many of these services can be temporarily suspended via convenient online request forms.

7. Avoid “Dead” Giveaways:  A brown, dried-out lawn or dying outdoor potted plants are another sign that nobody is home to care for them. Make sure your landscape sprinklers are hooked up to an automatic timer, or ask a trusted neighbor or hired local teen to tend to your outdoor plants while you’re gone.

Taking these simple, inexpensive security precautions while you are away will give you one less thing to worry about, and many more hours of relaxation and recreation on your Labor Day weekend trip! 

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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Back To School: A Lesson In Property Values

With just a few weeks to go before the “unofficial” end to summer, many families are already thinking about the new school year ahead. (Okay, so maybe just mom and dad are thinking about it.)

It's back-to-school time soon!

It’s time to evaluate the kids’ wardrobes, all the while marveling at how much they’ve grown over the summer. It’s time to assess the school supply inventory and hit the back-to-school sales. And it’s time to start thinking about getting the family back into a school-year routine.

School is such a huge part of family life, it’s no wonder that quality of schools is high on the list of requirements for families looking for a new place to call home.  Fortunately for anyone considering Yorba Linda for their new residence, schools also top the list of the city’s best features.

Great Schools = Great Neighborhoods

It’s no accident that Yorba Linda schools are high caliber. Residents declared their commitment to education when they passed Measures A and Y in 2002 and 2008, respectively. These bond funding programs have allowed the award-winning Placentia-Yorba Linda School District to add new schools and facilities, and bring much-needed modernization to existing campuses. As a result, we offer world-class educational resources and facilities for families who live in the area.

During summer 2013, PYLUSD has continued work on fulfillment of its Measure A goals:  Improvements and modernization at six schools, as well as the continued construction of the district’s new Performing Arts Center on the campus of El Dorado High School.

Having so many great schools also means Yorba Linda homeowners enjoy higher and more stable property values relative to neighboring towns. The June 2013 median home price in Yorba Linda was $717,000, while neighboring communities of Anaheim Hills, Brea and Placentia were $618,300, $551,700 and $535,400 respectively, for the same period.¹ 

Thinking of moving here? Interested in viewing some properties? Give me a call at (714) 924-0781. I’d love to show you around this great town I call home!

¹ Zillow.com

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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Your Back Yard: Your Oasis.

Summertime means a lot more outdoor time, even in a place like southern California where near-perfect weather year-round supports virtually every type of recreation options on any given day. This is especially true in Orange County.

If you’re a homeowner, you probably already know the pleasure of having your own back yard, and for many, their back yard is their private oasis.

What do you like to do in YOUR yard?

A recent survey of homeowners reveals that more than a quarter of them nationwide enjoy spending time in the back yard for the sheer relaxation it affords. 

Seventeen percent put that private space to work with flower or vegetable gardens, and enjoy tending their plants regularly. And 14% cite spending time with family as the activity they enjoy doing most in their back yard.

Whether you’re in the market for your first or fifth home, you probably have some ideas about what you’d like to do in your new back yard. Maybe you have pets that need room to roam. Maybe you’d like more space to exercise your green thumb. 

Maybe you hanker for an outdoor entertainment area to host fun times with family and friends, play yard space for children, or room for a swimming pool or tennis court.

Here in Yorba Linda, the median lot size is larger than most in Orange County. In fact, there are many large, equestrian-zoned properties in the city with back yards that can accommodate not only a horse or two, but also more traditional recreation activities like swimming, basketball, and tennis.

What do you enjoy most in YOUR backyard oasis? What would you change? What’s on your “wish list” for your next home? Check out my Pinterest boards for ideas or feel free to call me if you’re looking for something specific in a property. Right now, I’m headed out to my own backyard oasis to enjoy the Orange County summer!

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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Orange County "Stay-cations" are IN!

The traditional, hit-the-road family summer escape is no longer the rule. And here in southern California, where the economy is coming back to life and recreation options are seemingly limitless, the “stay-cation” to enjoy local attractions is still IN for many homeowners.

Why travel miles from home when everything you want is nearby? World-famous themed amusement parks, museums, live theaters and music halls, shopping, dining, cultural centers, historic sites, zoos and aquariums, scenic mountains, beaches, deserts and islands, with quite possibly one of the best climates, are all within a one- to two-hour drive; Orange County HAS. IT. ALL.

The current high demand for Orange County real estate is certainly a reflection of the area’s appeal; our lifestyle, amenities and climate are enviable! Where I specialize in north Orange County, Yorba Linda’s average number of days a property is available on the market is currently around 40. What’s more, this number has been on a downward trend over the past seven months, meaning homes are selling quickly. If you live here, you know what a great place it is and why these numbers are not surprising. If you’re beginning your research on the area, I encourage you to read on:

Many Yorba Linda homeowners enjoy spending summer vacations relaxing at home in their own private backyard oasis. Families with young children might stage a backyard campout under the stars, but close to the comfort of a child’s familiar bed if a change of heart develops! Or some simply enjoy entertaining friends and family with a pool party and outdoor barbecue.

Day trips to hike, cycle, kayak, swim, fish, photograph or just explore are too numerous to count. There is something for everyone, at every experience level.

World-class shopping at places like South Coast Plaza, Fashion Island and the Irvine Spectrum, or brand-name deal hunting at The Outlets at Orange is enjoyed by some residents. 

Others prefer the thrill of a rollercoaster ride at places like Disneyland and Knott’s Berry Farm, or Universal Studios Hollywood, Magic Mountain, Legoland and SeaWorld at easily-accessed points outside the county.  

Culture, history, and the arts are alive and well in Orange County, too! Yorba Linda’s native son Richard Nixon built his presidential library here in town and filled it with fascinating records and artifacts from our country’s 37^th Commander In Chief. The summer Festival of Arts, Sawdust Festival, and Pageant of the Masters in Laguna Beach are very popular draws. The Orange County Museum of Art, Bowers Museum, Muzeo, Muckenthaler Cultural Center and Laguna Art Museum feature exciting art and cultural exhibits year round. And the renowned Segerstrom Center for the Arts offers live theater, dance, opera and musical performances for patrons of every age and area of interest!

Passionate about science and nature? A host of natural and physical science venues attract thousands in Orange County each year:  the Discovery Science Center, the Ocean Institute, Peter and Mary Muth Interpretive Center, Tucker Wildlife Sanctuary, Oak Canyon, Turtle Rock and Shipley Nature Centers are just a few to enjoy.

Of course, if you simply must get away from your home for a few days, Orange County is home to numerous resort properties and private Bed & Breakfast Inns that can certainly give you the pampered escape experience you crave.

Interested in moving to Yorba Linda or another part of Orange County? Looking for someone you can trust who’s an area expert? I’d love tell you more and show you some properties in this wonderful place I’ve called home for over 20 years!

Meanwhile, I think it’s time for my family and me to head out for a little local “stay-cation” summer adventure…

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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We knew it couldn't last forever: Mortgage interest rates are rising.

Last week, the average rate for a 30-year fixed mortgage rose by a full third to 4.46%. And while the new rate still pales in comparison to historical highs set back in the 1980’s, some experts believe this uptick along with recent comments from the Fed Chairman that the government may scale back on stimulus measures signify the beginning of a new upward trajectory for rates.

If you’re considering buying or selling a home, this increase and the trend it potentially signifies should motivate you to act sooner rather than later.

For buyers, the increase means a higher cost of home ownership with a higher monthly mortgage payment than if they’d bought last month.

For sellers, the increase may affect the ultimate value they are able to realize for their property since there may be fewer buyers willing to get into the market and commit to a purchase.

Ready to enter the market?

Whether you are a home buyer or seller, your local real estate agent is the first and best expert resource for everything from neighborhoods to lenders, home staging to escrow services.

A good agent will help their home-buying client clarify wants vs. needs in the home finding process; they will do the time-consuming legwork to find suitable neighborhoods and properties to show their client; they may provide access to flexible lending resources to assist their buyer; they will proactively serve their client’s interests by negotiating the best offer and terms possible; and they will coordinate all inspections and ensure the smooth processing of paperwork from the transaction, through escrow and closing.

A good agent will analyze the market value of their seller client’s property and help set a realistic asking price; they will assist with home staging work to ensure the property is presented in its best possible condition; they will market the listing through all appropriate real estate channels to maximize exposure; they will proactively serve their client’s interests by negotiating the best offer and terms possible; and they will ensure any contingencies are addressed swiftly and efficiently through the escrow and closing process.

Though I serve all of north and south Orange County, I’m a trusted area expert for north Orange County, especially Yorba Linda. Whatever side of the negotiating table they’re on, I consider myself the champion for my client, using the full extent of my years of professional experience to ensure the best possible outcome for their real estate goals. Call me today if you’re ready to take advantage of this dynamic real estate market!

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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First-Time Home Buyers: Don't Overlook This Step!

Most home buyers go through the experience of buying or selling a home only a few times in their life. Add to that the fact that those events are separated by a span of several years and it’s easy to forget the myriad of details involved. That’s where an experienced real estate agent proves an invaluable guide through the world they navigate every day. If you’re a first-time buyer, don’t attempt this journey alone!

Important First Step

In my many years as a real estate agent in Orange County, probably the most critical step I’ve seen first time home buyers overlook is the pre-qualification or pre-approval stage of the lending process. Knowing up front what type of loan and amount your lender will approve for you can really make or break your successful search for a home.

Why Pre-qualify or Pre-approve?

In this competitive real estate market where cash players and even multiple bids are common, sellers are more likely to consider buyers who come to the table with their financing prepared. Until you’ve talked to your lender, you won’t have defined that important piece of the home buying process.

It is actually preferable to get pre-approved for a loan rather than pre-qualified -- it involves gathering more detailed financial information and in some cases may even involve running a credit report. When you have a letter from your lender stating that you are pre-approved for mortgage financing, you put yourself and your agent in a better position for making a legitimate offer on your dream home when you find it.

What Does The Lender Want?

The lending business is based on risk assessment. The lower your risk of defaulting on a loan, the better the rates and terms the lender will offer you. Your risk level is estimated by examining your borrowing habits, credit history, employment history, and amount you’re able to apply to a down payment on the property, to name a few. If you have a lot of debt in relation to your income, outstanding judgments, child support or alimony, or any other financial contingencies, the loan approval process gets trickier.

The Market Is Changing, Are You Ready?

Orange County home sales volume for May was up over 11% compared to 2012, and the median price increased 24% compared to last year.* If you’re thinking of buying soon, talk to your lender and get your financial piece of the puzzle sorted out. Then find a trusted agent and begin your search!

A professional, licensed real estate agent has the experience, the knowledge, and the time and resources to help you find the home that meets your needs and help guide you smoothly through the entire process. For example, my clients not only benefit from my 15+ years’ experience in Orange County real estate, but they also have access to proven trustworthy and reliable lenders, escrow and title companies, as well as contractors and home inspectors. Choose someone who will remain committed to you throughout the journey, and who will treat your search as if it were for their own home.

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

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*Source: DataQuick