home buying

2-Bedroom/2-Bath Lake Forest Townhome/Condo – Across From The Lake

Sail Boat half enhanced and cropped (Medium)

Completely remodeled and modern 1,242 sq. ft. 2-bed, 2-FULL baths (not 1-1/2 baths like others), 1-car painted/epoxied garage, end-unit townhome w/ PRIME LOCATION backing to woods.

Remodeled kitchen has white cabinets w/easy-close drawers, lazy Susan, 5’ island with quartz counters, glass tile backsplash, pull-out faucet and newer stainless appliances. French slider opens up to fenced brick patio-yard with colorful landscape, open gate to enjoy walking trails that meander through fragrant eucalyptus trees up through Serrano Creek Park and its recreational area and horse stables. Brand new recessed lighting, 2-tone paint, window coverings, wide-plank flooring, 4” baseboards, carpeting & light fixtures.

Sun & Sail Club Marquis with lake in backgroundYour family & pets will love what nature offers you surrounding this cul-de-sac home. Across the street is the fabulous Sun & Sail Club with its lovely lake. Enjoy 4 pools, spa, saunas, tennis, volleyball, state of the art fitness center, youth center, snack bar & more. You can even launch your own kayak for a sunset cruise. Highly acclaimed Rancho Canada Elementary is just up the street. A short stroll to shopping & eateries.

No interior photos yet as home remodel still in progress, but this one exterior photo represents the floor plan. THIS CONDO LOOKS LIKE A MODEL and may sell before it comes on the market.  $385,000.  Contact me ASAP for best chance at this home.  (949) 583-1331

This picture shows the style of the homes in the community, it is not the unit for sale.

Grand Opening TACO EDITION: 23046 Sonoita – Saturday June 20th, Lunch at Noon

Sonoita-Front

A community so nice, we are doing it twice. Recently we sold a house across the street. Neighbors came to the open house and saw the amazing, over-the-top effort we put into selling a property. One neighbor liked it so much they hired us to sell their home.

Sonoita-Living-room2This attractively upgraded tri-level home shows like a model. The beautiful front courtyard leads to double door entry opening to a tumbled stone-like tiled foyer. A main floor bedroom has its own bath. Upstairs, the master suite features vaulted ceilings & retreat perfect for nursery or exercise room. Remodeled master bath has dual vanities, linen closet, walk-in closet & sky light. The upgraded kitchen has recessed lighting, newer solid wood cabinets with pull-out shelving & quartz-style counters. Family room has fireplace.

Sonoita-BackyardExpansive backyard is perfect for entertaining.  Besides the colorful, grassy, landscaped yard there is a pad plumbed for an above-ground spa & another perfect for an above-ground pool, trampoline or sport court. The back yard patio cover with ceiling fan spans the width of the home.  Other upgrades include multiple skylights, new light fixtures, decorator paint, plush neutral carpet, low-E dual-pane windows & overhead garage storage system.

Award winning Capistrano Schools. Strolling distance to Lake Mission Viejo offering sandy beaches, fishing, volley/ basketball courts, concerts, yacht club, picnic areas & kayaks, peddle or party boats to rent for sunset cruises with your friends. Minutes from shopping, fine dining & local eateries. Aggressively priced to sell this weekend.

Jenean Says: Arrive early at 11:45am and enjoy the live catered taco bar ‘while supplies last’. There will be a line at the door, embrace it, you’ll want my same over-the-top effort when I sell your home.

LOWEST PRICE 3-BEDROOM IN IRVINE | Grand Opening Open House Saturday April 11th, Lunch at Noon

98-eagle-point-front

Who would believe you can find a beautiful, turnkey 3-bedroom condo in Woodbridge for under $400K?

98-eagle-point-patioThis Village Green lower-level home in quiet location shows like a model. From your kitchen window you can watch your pets and kids play in the extra-large back yard patio. This great space with colorful landscaping is perfect for family get-togethers and entertaining. New vinyl fencing makes it very attractive and private. Direct access parking. Newer paint, neutral plush carpeting, kitchen and bath flooring, 2” white slat window coverings, lighting, fixtures and more. Master has his and hers closets with closet system.

wodbridge-lake

World class HOA with lakes, swimming lagoons, tennis courts, pools, spas, volleyball & racquet ball courts, fitness areas, walking trails and even a splash park right down the street! This prestigious Woodbridge address also comes with multiple clubs and a monthly calendar of activities.

98-eagle-point-living-roomTop-rated Irvine schools including Eastshore Elementary! Close to Irvine Valley College. This Woodbridge lifestyle just doesn’t get any better!

Priced to sell this weekend so bring your checkbook to 98 Eagle Point, Irvine.

You know this home will sell fast. If you any friends looking for a property in Irvine let them know about the open house right away, so they will have a chance to see this great deal before it sells.

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- Sat., March 23, 12-5pm …………………Outback Steakhouse Luncheon at noon

$599,900-$625,000. Expansive 5-BED, 3-BATH home w/ Dual Master Suites is a part of Lake Forest’s highly desirable Beach & Tennis Club (down the street off Ridge Route). Located on a private culdesac street, this home is surrounded by greenbelts & has a rural, country feel. Upper master suite has large living/office/ sun room while Lower master has living area/retreat & adjacent bathroom – perfect for extended family living. Stained glass double door entry has hardwood flooring & step-down living room w/ soaring wood cathedral ceilings, fireplace & plush carpeting. Recent upgrades include newer roof, skylights, HVAC system, scraped ceilings, paint, baseboards, TV/Ethernet outlets. Kitchen, family room & lower master suite open to private backyard with newer covered patio & fire pit. Low taxes & no mello roos.

Beach & Tennis Club membership includes 2 swimming pools, swimming lagoon, wading pool, indoor spa, lighted 6 tennis courts, tennis pro, outdoor volleyball & basketball courts, fitness center (with Star Track Pro recumbent and Treadmills & elliptical machines), a billiards room and lake view lounge with bar and large screen TV. They also offer a preschool program on-site. This community is also surrounded by forests where you’ll find seasonal creeks & shady walking trails. Seller bought another. . If you do NOT have a Realtor you have committed to and want the best chance of getting your offer accepted, call lender, Tom Testerman at (949) 422-4497 on Friday to start working on your preapproval… then bring your financial paperwork to the open house to meet him in person. An offer will be accepted from one buyer who visits the open house on Saturday. Will it be you?

To see the amazing floor plan, click here: JeronimoFloorPlan003

Video Tour: http://www.youtube.com/watch?v=xi_7X1s1gdc

 

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.

Home values rise for first time in 5 years


Here’s a great CNN article I just read that does a good job spelling out what is happening in the market. Home prices hit a bottom and are finally bouncing back, according to an industry report released Tuesday. Nationwide, home values rose 0.2% year-over-year to a median $149,300 during the second quarter…

Click here to read full article

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

Quote of the Day:

“Is the glass half full or half empty? It depends on whether you are pouring or drinking.”

In this market, there are two glasses in front of us.  One is pretty full and one is almost empty.  The pretty full class stands for the amount of inventory available for purchase while the almost empty one represents the low home prices and low interest rates.  If you read yesterday’s post you saw how remarkably low interest rates are.  When you pair that with low home prices, homebuying is very affordable – In fact 64% of adults can now afford to purchase a home – compared with 25% a few years ago. 

As people take advantage of this buying opportunity, that action will effectively pour some of the “inventory” water into the “low price” water glass.  This will slowly raise interest rates and housing prices.  In tomorrow’s post, you will see that a 2% gain is expected in 2011.  Nothing big, but a sign that we are now just a tad past the bottom of the market.