advice on moving

Grand Opening Open House Saturday March 14, 12-4pm; Lunch at Noon — 25271 Tanoak LN, Lake Forest

Tanoak Living RoomDUAL MASTER SUITES (perfect for roommates) GREAT FIRST HOME OR INVESTMENT PROPERTY.

Welcome to the picturesque lakes, woods and hills of Lake Forest. This attractive and quiet 2-bedroom, 2-bath, Dual Master Suite, end-unit condo is in the desirable community of Tierra Vista. PRIVATE staircase leads from your attached 1-car garage (with driveway) to upper single-level living.

Fresh two-tone decorator paint, brand new light fixtures and window coverings. Walk-in closet in one master and a wall of closets in the other. Bright kitchen with lots of cabinets and newer appliances, Full-size laundry room with French doors, skylight and storage. Living room AND both bedrooms have French door/sliding door access to veranda – perfect for grilling or entertaining. Each bedroom has its own linen closet.

Tanoak FrontPool and spa are just steps away. Situated off of Peachwood next to exquisite Serrano Park homes with walking trails, greenbelts and parks all around. Only a few miles from the Irvine Spectrum businesses & dining venues! A short stroll to shopping, dining and eateries. This condo looks like a model and is deal-priced to blow out this weekend.

Full Property Profile

This home is coming on the market at $364,900.  It won’t surprise me if it sells for more so to have you best chance at winning the keys to this great property, please talk to lender, Tom Testerman at 949 422-4497 prior to the open house and then be first in line to view it and have a few bites to eat on Saturday.  Any questions, call me at 949 583-1331 and leave a message.  I will return your call at my earliest convenience.

Grand Opening Open House Saturday, January 31st 12-4pm Lunch at Noon – 22018 Bahamas, Mission Viejo

22018 Bahamas Front$325,000.  SELLER WILL PAY $5,000 FOR CLOSING COSTS OR FOR NEW KITCHEN CABINETS AND GRANITE OR QUARTZ COUNTER TOPS.

Very attractive 2-bedroom single-level carriage unit condo (no one above or below) on quiet street surrounded by lush tropical landscape throughout the resort-style Coral Gardens community.  This end unit home backs up to wild lands area and provides a very serene and beautiful setting. Private staircase leads from attached garage to upper living space with patio ideal for sunset entertaining. Spacious home has wide plank flooring throughout, 2-tone decorator paint, dual-pained windows, white custom shutters, vaulted ceilings, interior full-size laundry and more.  

Bahamas PoolYou will love the lifestyle that comes with this turnkey home.  Coral Gardens offers tennis courts, spas, a sparkling resort-style pool. Home is strolling distance to Lake Mission Viejo which offers sandy beaches, fishing, volley ball & basketball courts, clubhouse, picnic areas and even kayaks, peddle or party boats to rent for sunset cruises with your friends.  There are summer concerts, a Yacht Club and so much more. Minutes from shopping, fine dining and local eateries.  

This home with its model home good looks it is aggressively priced below others to sell this weekend. Come with your checkbook, and be amazed.  This is the lowest priced 1986 or newer 2-bedroom in Mission Viejo, Lake Forest, Laguna Niguel, Laguna Hills or Rancho Santa Margarita!  Seller must move right away.  Their loss is your gain!

I have not been posting for over a year as I was dealing with cancer. I am healed and my blog is now up and running again. I would love to see your smiling faces at my open house. This place would make a great investment now and later could be a first home for your grown kids. See you on Saturday. This home is not on the MLS yet, for best chance to get this home call Jenean Hill at (949)583-1331

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With very few homes for sale, the market is EXTREMELY challenging

Everybody is frustrated.  Buyers write offer after offer after multiple instances where they did not have the “winning bid.”  Many wonder if they will ever be able to secure a home.  Frustrating. REALTORS® representing buyers have to work ten times harder than a normal, balanced market, showing every home that appears on the market, analyzing the data and writing offers that are one of 20 submitted.  Frustrating. REALTORS representing sel- lers have to keep their clients from getting too far ahead of themselves and grossly overpricing their homes.  Frustrating.

What is going on?  Quite simply demand, the number of homes placed into escrow in the past month, is about equal to the number of homes on the market. The chart below illustrates the issue.  When supply, the housing inventory, is much larger than demand, it takes a lot longer to sell a home.  As they get further apart, it becomes much easier to purchase.  Take a look back in mid-2007 when there were close to 18,000 homes on the market with demand at about 1,200 homes.  Buyers had their choice of homes and it there was no competition.  Last year at this time, the active inventory sat at 7,597 homes and demand was at 3,569.  The lines were much closer, but the difference was still 4,028 homes.  Today, the active listing inventory sits at 3,272 homes and demand is at 2,887, that is a difference of only 385 homes. The last time this occurred in Orange County dates back to 2005.

Demand is much less today than back in 2005 when there were 4,549 pending sales in a month.  But, back then there were 5,146 homes on the market, a lot more than today.  Since demand is based upon the number of recent escrows, it is currently heavily muted because there are simply not enough homes that have entered the fray.  If there was a surge in the inventory tomorrow, there would be a surge in demand as well. There are throngs of buyers waiting in the wings for a fresh supply of homes.

This market will remain extremely frustrating until the supply of homes increases.  It appears as if that is not going to happen soon and the tight inventory will remain a major issue in 2013 and a stumbling block for many buyers to successfully purchase.  The tight inventory will also encourage homeowners to place their homes on the market and aggressively pursue the market by pricing their homes well above the last comparable pending or closed sale.  Unfortunately, many will drastically overprice their homes and they will sit on the market and procure no offers.  Buyers are willing to pay more for a home, but are not willing to absurdly overpay. 

Pricing a home is a delicate balancing act that requires a homeowner to carefully analyze the local market and the rate of appreciation.  Remember, homes may increase in value by as much as 10% in a year, but not in a month.  Carefully selecting a REALTOR® is a must.  Finding one that knows the local data and market dynamics is essential to success.  Hiring somebody solely based upon a projected sales price is foolish.  Instead, look for somebody that understands the market the best and has a strong command of the data.

Active Inventory:  The inventory remained the same.

The inventory started the year at the lowest level since tracking the active listing inventory back in 2004.  Since then the inventory has only added an additional 111 homes.  In the past two weeks it actually dropped by 4 homes and now sits at 3,272 homes.  The inventory sits at an unprecedented anemic level.  For proper perspective, just ask any buyer who has seen the few available homes and written several offers to no avail.  They will tell you how they are watching the market like a hawk, ready to pounce on the next home that hits the market that closely matches their parameters.  The only problem, when there are this few homes, too many other buyers are doing the same thing. 
So far this year, there have been 17% fewer homes placed on the market compared to last year, which represents 918 homes.  The buyer masses waiting in the wings would appreciate an additional 900-plus homes on the market.  The anemic levels are here to stay for the foreseeable future.  Last year at this time there were 7,597 homes on the market, 4,325 more than today.

Demand:  Demand continued to rise.

In the past two weeks, despite very few homes entering the market, demand increased by 11%, or 291 pending sales, and now totals 2,887.  It has grown by 33% in the past month, or 715 pending sales.  Compared to last year at this time, there are 682 fewer pending sales today.  In 2012, the market was sizzling forward at a breathtaking speed, fueled by a much larger inventory.  Today’s demand is strongly dependent on the inventory.  As soon as the inventory increases, demand will increase.  Until then, you can expect continued, subdued, muted demand.

The Distressed Market: The distressed inventory dropped by 11 homes, a 3% drop.

The distressed inventory continues to drop, shedding an additional 11 homes, which amazingly represents 3% of all foreclosures and shorts sales on the market.  There are 339 distressed homes within the active listing inventory, just 10% of the total active listing inventory.  There have not been this few distressed listings since April 2007, nearly six years ago. 

In the past two weeks, the foreclosure inventory increased by 24 homes, totaling 117, and has an expected market time of 25 days. The short sale inventory decreased by 35 homes in the past two weeks, totaling 222, and has an expected market time of 11 days.  Short sales continue to be the hottest segment of the Orange County housing market today.

Housing demand in Orange County is so low that it cannot be measured

This is a continuation of yesterday’s piece on the status of the market.  The active listing inventory is muted this year because many homeowners are still underwater.  They may have good credit and a stable job, but they do not have the cash necessary to close because they are currently too far underwater.  Also, many homeowners are now sitting on the fence while they recoup their equity.  Everybody is familiar with the term “buy low, sell high.”  It appears as if the bottom of the market was reached last February and now buyers are flooding the market attempting to “buy low.”  Homeowners know it is a low, so they want to wait.  They don’t want to “sell low.”

 DemandThe lack of inventory is cutting into demand.

As discussed above, true demand is much higher than demand based upon the number of new pending sales over the prior month.  In the past two weeks, demand dropped by 470 pending sales, a 16% drop, and now totals 2,543.  Based upon the word on the street, buyers are scrambling around at anything and everything that is placed on the market right now, but there just is not enough coming on the market.  And, that will remain the case throughout the holiday market, which does not end until the second half of January, right after everybody gives up on their New Year’s resolutions.  Buyers are in a rush to buy, but homeowners are not in a rush to sell.  Instead, they are going to enjoy the holidays with the knowledge that as their homes are slowly appreciating.  Last year at this time there were 46 additional pending sales, a 2% difference.  But, there were 8,905 active listings for buyers to choose from. 

The Distressed Market: The distressed inventory dropped by only 16 homes, but that is still a 4% drop.

For buyers looking for a “deal” and looking closely at the distressed inventory, the pickings are slim.  There are only 434 total short sales and foreclosures on the market today.  Distressed homes make up only 12% of the active inventory and 34% of demand.  Last year at this time there were 3,357 distressed homes on the market, 38% of the active listing inventory and 57% of demand, much different than today.  In the past two weeks, the foreclosure inventory decreased by 12 homes, totaling 110, and has an expected market time of 18 days. The short sale inventory decreased by only 4 homes in the past two weeks and now totals 324.  The expected market time is only 14 days and continues to be one of the hottest segments of the housing market.  Both 110 active foreclosures and 324 active short sales are new lows for the year and levels not seen since the beginning of all of the distressed activity back in 2007.

Not enough homes are placed on the market to adequately satisfy the throngs

 If you have been communicating or working with me this year, the words below (written by my partner, Steven) will match up with what we have been experiencing together.  Tomorrow I will touch more on active inventory, demand and the distressed market.

Active InventoryThe current inventory is simply unprecedented.

It is extremely difficult to articulate just how low the current active inventory is today.  3,482 homes on the market is absurd.  That’s correct, the inventory dropped below 3,500 homes after shedding an additional 52 homes in the past two weeks.  That’s only a 1% drop and the lowest drop since the beginning of August. This really could be the end of the unabated 18 month plunge in the active listing inventory.  There will eventually be an end to the drop and a new low will be established.  It almost seems impossible for the plummet to continue at this point.  It was surprising when it dropped below 4,912 homes in August, the prior record low level reached in early 2005.  Yet, it managed to drop by an additional 1,430 homes.  Last year at this time there were 8,905 homes on the market.  That’s 5,423 more than today.

REALTORS® from the trenches are reporting staggering open house attendance. They are getting as many as 75 buyers attending an open house in December. Remember, this is the Holiday Market, when buyers are typically diverting their attention away from their pursuit of their next home while they focus on Yule tide traditions.  Not this year.  Buyers are soaking up just about everything that is being placed on the market. 

 Even though we are in the midst of the holidays, multiple offers are still the norm, and so are offers above the list price.  Homes are truly appreciating based upon what buyers are willing to pay.  Many buyers put off purchasing a home earlier in the year anticipating now being a great time to buy.  That may be the case with a normal inventory, but the current inventory is far from normal.  Those buyers are waiting in line along with the multitude of buyers who have been unsuccessful in their pursuit thus far.

 Homes simply are not coming on the market this year compared to every other year in the past decade.  There are 16% more homes placed on the market in 2011 versus 2012.  In real terms, that’s 460 additional homes coming onto the Orange County housing market every single month.  Just prior to the housing turn, in 2005 there were 53% more homes placed on the market than today.  That’s 1,581 additional homes every single month. 

This chart illustrates just how anemic the inventory has been this year.I track demand based upon the number of new pending sales over the past month.  With the overwhelming number of buyers actively looking today but unable to purchase due to an unprecedented lack of inventory, true demand is much higher than what I am able to track through the Multiple Listing Service.  Quite simply, if a normal flow of homes were placed on the market, there would be a lot more pending sales each and every month this year. 

So, even though it is the Christmas Season, this is a great time to put your home on the market.  Your decorated and cozy home will attract buyers, and if marketed to its fullest extent will bring multiple offers and sales prices that will just make your year!

FREE $500 Gift Certificate Toward Escrow or Moving Costs

By now if you live in the City of Lake Forest, you should have received a Shop and Dine Passport with coupons for deals all across the city.  I have a Real Estate coupon in the book for a $500 certificate toward escrow or moving costs.  

If you would like the certificate (and a valuable stamp in your  “passport”) this is all you have to do:

1) View one of these four short videos and comment on what you like best about my real estate methods.

Selling SFRS for Top Dollar in One Day

Selling Condos for Top Dollar in One Day

Client Testimonial

Lake Forest Community Video

 

2) Email me at Jenean@JeneanHill.com and give me your name, address and phone number so I can get you your $500 certificate (which will be good for the next year).

3) For an added bonus, “like” me on my Facebook business page, Jenean Hill’s “Live in Lake Forest” and you will receive a Starbucks gift card, and if you share me with your friends, I will put you in this month’s drawing for 2 SeaWorld Tickets.

Thanks, and I look forward to serving you in the future.

Jenean Hill  – (949) 583-1331
Broker Associate, First Team Real Estate
Director, Orange County Association of Realtors, 2006-2011, 2013-2015
Lic# 01312003

NOT ON MLS: Laguna Niguel SFR w/ wrap-around grassy yard and ocean view DEAL!

Stunning, 3-bedroom, 3-bathroom, end-of-cul-de-sac hilltop home on a large grassy wrap-around 6,300SF+ lot in the heart of Laguna Niguel. Beautiful peak-a-boo ocean and surrounding hills views. Walking distance to award-winning elementary school, shops, theaters and restaurants. Formal living dining room with vaulted ceilings. Eat-in kitchen/great room has marble fireplace. Inside laundry. Master has walk-in closet and oval tub with separate shower. Upgrades include NEW… appliances, custom 2″ white wood window blinds, two-tone decorator paint, neutral carpeting & travertine-like tile. Even the garage is squeaky clean! This home and location are to die for and may even sell before it hits the MLS. This is a standard Equity Sale. The estate wants it sold NOW.

The plan is for it to come on the market in late August after residents have moved out. The price has not been set yet, but it is safe to say that it will be in the mid to upper 500K’s. If you don’t have an agent working hard for you and would like to talk to me about what we can do now to put you in a good position to beat the competition on this home, call me at (949) 583-1331

For more photos, click here

Common Impediments to Selling and How to Overcome Them

RISMEDIA, February 1, 2011—Even with the economy improving overall, it would be false to say the real estate market is booming, especially for home sellers. Unfortunately, negative financial headlines are causing some potential sellers to needlessly hide in fear. For many, it truly is not the ideal time to put their home on the market. But, even in a less-than-robust economy, you might be in the right—perhaps even the ideal—situation to sell. Unfortunately, some common impediments may make you run from doing so. Here are a few of those mental roadblocks, and how to overcome them: http://rismedia.com/2011-01-31/for-your-clients-common-impediments-to-selling-and-how-to-overcome-them/

Free Moving Boxes

moving_boxesAs Gary and I pack to leave for a trip to visit our rental and work on it for a few days, I thought that I would share with you – a great place that you can go to get boxes for your move.  Check this out:

C.A.R. Green Tip of the Week: Share a box
If you are preparing to move, you need boxes. If you recently moved, then you need someone to haul those pesky boxes.Shareabox.com does both, connecting people and boxes. Share a Box was created by two green-minded REALTORS® who believe every box is begging to be used again, again, and again. Visit http://www.shareabox.com/ for more details.

Saddleback Valley Homeowners- One more day for Spring Cleaning

junk-king1Green Tip of the Week: Junk King
It’s Sunday and we are one day away from Summer.  If you haven’t done your spring cleaning you may want to call Junk King. This company will haul away furniture, yard waste, abandoned automobile parts, and scrap metal. The expanding franchise is based in the Bay Area and has a reputation for recycling 60 percent of the waste it removes from properties. Find them at www.junk-king.com.