Lake Forest Realtor

Sold – New Record High Sales Price for Lake Forest Shores

LakeShoresExteriorThank you to the visitors who attended my Sailwind Way Grand Opening Open House on Saturday.  I am excited to let you know the final score!

The buyer wanted to buy the home for full price the moment it came on the MLS.  He was told he had to wait until the weekend Grand Opening to view it.  It was standing room only when he entered the home.  After seeing the ‘competition’ he wrote an offer for $25,000 over asking.  This set a new record high in Lake Forest Shores and completely covered the seller’s marketing fee and then some!

If you are a have been to one of my Grand Opening Open Houses, I am sure you observed the over-the-top measures that my team and I took to serve our sellers and put more money in their pockets.  We do the same hard work to help locate and negotiate the best situation for our buyers as well.  If you don’t have a signed contract with an agent, we would be delighted to help you find your dream home in record time.

Do you know anyone who might be looking to sell?
I have a young couple named Jonathan and Kelly who have asked me to find them a 2-bedroom condo in Lake Forest.  I am not new to this.  In fact, I teach agents who work in other cities how to sell homes using this same award-winning method that took me 15 years of testing to develop.  LakeShoresKitchenIt is all about helping sellers do the small things that make a big difference so that crowds converge on their home within a 4-hour period creating a feeding frenzy and a quick sale.  My past sellers love the fact that they don’t have to deal with buyers coming in and out of their home for months and that their home sells for top dollar in record time.

I have one opening to help a seller in September and one in October.  If you are a buyer, I have two openings available at this time. I look forward to hearing from you. 

Grand Opening Open House Saturday 4/23 – One-Of-A-Kind Tierra Vista Penthouse Floorplan

Balsam-showing-DR-LF-and-Kitchen-560

This Saturday, April 23rd I will be having a Grand Opening Open House at 21311 Balsam Lane in Lake Forest.  If you stop at noon, you will be treated to a live taco bar lunch.

Welcome to the scenic lakes, woods & hills of Lake Forest.  You will drive by this on the way to this attractive ONE-OF-A-KIND 1,301 sf, 2-bed, 2-bath, dual master suites, penthouse-style condo in the highly desirable community of Tierra Vista off of Peachwood & Trabuco. Balsam-eat-in-kitchen-560It is 10-30% LARGER than other 2-bed models & expands the ENTIRE LENGTH of the building so there are windows on 3 sides! We are just finishing a contemporary remodel to feel like a mid-century modern New York City loft.  Upgrades include brand new two-tone decorator paint, wide-plank flooring with 5” baseboards, neutral carpeting, 2” white custom wood blinds, lighting & hardware. The eat-in kitchen features brand new stainless appliances, stainless sink with high profile pull out faucet, quartz counters & marble/glass backsplash. There is also a formal dining room! Both masters and living room open to an expansive veranda – perfect for enjoying your morning coffee or entertaining. Other features include full-size indoor laundry room, skylight & French doors. Situated next to exquisite Serrano Park homes with walking trails, greenbelts & parks all around. Only a few miles to the Irvine Spectrum businesses & dining venues!  A short stroll to shopping and eateries.

Balsam-Money-Shot-blue-bedroom-for-post-card-560Whether you are looking for a perfect rental that would rent in the mid $2000’s or for a turnkey home that you can move right into and not have to do a thing to it, you will want to see this home the one and only day that it will be held open – Saturday, April 23rd at noon.  Like my other listings, we will accept an offer on Monday.

 

Feel free to invite your friends and family members.  If you think you are able to come for lunch, please email me and let me know how many people will be in your party.  Thanks so much.

Birch Grove Open House Results

bg-long-grassy-yard-560-sold
What happened at your last Grand Opening Open House? Well, I’m glad you asked. In September we held our Grand Opening at Birch Grove in Terra Vista, another Taco Edition. If you have followed our recent sales you could probably predict the results – sold in 4 hours for thousands over recent comps. The open house was seen by almost 300 guests and 17 offers were received.

In case you missed the open house here is a video that we had a professional movie company shoot at the event.

The flash mob was planned although many people from the crowd joined in spontaneously. The amount of people who came to the open house was typical (you would know that if I sold your house) and a result of the outside-of-the-box marketing we do on each and every listing. We are going to be using this video as part of the Yesin7days training we will be teaching to other agents beginning next year.

Who do you know that’s getting ready to buy or sell? Would you like to be their hero and save them from waiting on the same old traditional agent marketing? Would they love to have their home sold quickly for more than the asking price? Send them this blog post and tell them to call Jenean right away. It’s always nice to share good things with friends. Here’s Jenean’s number (949) 583-1331.

Feel free to share this with anyone you know who may be looking to buy or sell a home anytime soon.

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 DATE CHANGE: This Saturday, August 3rd. Free Lunch at Noon.

Monroe backyard PSMonroe generic shotMonroe Dyson Grassy sideyard3-bed/bath, 2-car garage Townhome with Big Grassy Sideyard Paradise.  

76 Monroe, Irvine – Beautifully upgraded 3-bedroom, 2.5-bath, 1,411 sq. ft. 2-car-garage townhome in desirable Northwood Timberline. Located in a quaint and beautifully maintained community, this spacious home is the largest model featuring bay windows, vaulted ceilings, fireplace,  new decorator paint,  new carpeting, new high-end distressed dark wood laminate flooring, new lighting & fixtures, new white 2” custom 3-Day Blinds… Remodeled kitchen has expansive center island with extensive storage and breakfast counter and adjoining family room that opens to private covered patio/courtyard leading to your direct access 2-car garage. This end-unit features a large grassy, landscaped side yard that distinguishes it from other 2 or 3 bedroom  models and allows you to enjoy watching your kids or pets play from your kitchen window!

Monroe Living Room PSThis is the home and lifestyle you’ve been longing for!  This pristine Irvine community is known for its attractive townhomes, low HOA dues, low taxes, no mello roos, and being close to just about everywhere you want to be.  Top-rated schools, Heritage Park and Heritage Plaza with its shopping and local eateries are just are stroll away. This is certainly Orange County Living at its best!

Monroe Master SPThis home is currently being upgraded and will be available this Saturday, August at noon.  Come for the free lunch or decorating ideas.  This fixer was turned around in 2 weeks to show like a model home.  It will be priced at the same price a non-upgraded model match in the community (that has street noise) is priced at and will blow you away by its good looks.  This is a divorce sale and seller wants it sold as soon as home is prepared.    If you are interested at having the best chance at this home, please contact me ASAP.

 

22252 Anthony Drive, Lake Forest: GRAND OPENING OPEN HOUSE Pizza Party May 18th, 12-5pm

Anthony Front PS reducedhttp://www.youtube.com/embed/EMTE0k6so-4

SEE ALL THE PHOTOS by clicking link above.

Exquisitely-upgraded Sun & Sail Club, Parkwood Estates 4-bed, 3-bath, 3-car garage, 600 SF bonus room culdesac home shows like a model!   Huge upper master with 2-person Jazuzzi tub & travertine 4’x6’ double shower AND Downstairs Master/in-law ‘wing’ with travertine fireplace, ¾ bath & multi-purpose craft/ food storage/exercise/sewing room.  Upgrades include travertine flooring, patterned Berber carpeting, raised-panel doors, recessed lighting, 2” white slat blinds, & cat-5 outlets. Spacious kitchen/great room has walk-in pantry, expansive center island with double O.G. Granite counter tops & pull-out trash bins/recycle center, pull-out drawers, double deep & wide sink with ‘touch 20’ pull-out faucet & stainless steel appliances including Bosch dishwasher & G.E. Monogram 5-burner induction cook top.  All bedrooms have walk-in closets. Baths have granite counters, new cabinets, tubs, toilets & mirrors.

Brighter Sun  Sail from jacuzzi to fountain and Sailboat reducedYour family will love what nature offers you surrounding this cul-de-sac home.   Grassy front, side & back yard with patio, landscaped slope & mini orchard! Short stroll to woodsy walking trails or the fabulous Sun & Sail Club & it’s lovely lake, 4 pools, spa, saunas, tennis, volleyball, state of the art fitness center, youth center, snack bar, lounge,  & more.  You can even launch your own kayak for a sunset cruise. 

The home will be priced in the $750,000-775,000 range. Call me at 949-583-1331 ASAP if you have been waiting for this lifestyle to become a reality.

Anthony Living room PS reduced

NOT selling more Homes, BUT Selling Homes for MORE! 

This business model has made my sellers successful for over a dozen years.  While other agents may be listing 4 homes a month, I generally accept one listing and spend 4 times as long preparing and marketing it to sell for MORE… and to sell faster!  That is why you don’t see my open house signs around town week after week.  Highly marketing one seller’s home at a time with hands-on service…

…Come see the difference it makes.

Anthony grass and slope after

Anthony living room close up toward window after Anthony kitchen toward sink after

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.

NEWS FLASH – We may be losing our Mortgage Interest Deduction – Please Help!

Call your member of congress today to protect the mortgage interest deduction
Congress, as part of negotiations on avoiding the “Fiscal Cliff,” has made direct references to “closing loopholes” and “limiting deductions” as a way to raise revenues. Clearly, the mortgage interest deduction is high on this list of revenue raisers.

Losing the mortgage interest deduction will disproportionately affect the middle class because a larger proportion of the middle class takes the deduction. In California 89% of those who took the mortgage interest deduction earned less than $200,000. Losing the deduction would cost the average California taxpayer over $3,900 (Way more than this in Orange County).

What you can do to help:

Call Congress. First and foremost, I am urging my friends and clients to call Congress @202-224-3121. The Capitol switchboard operator will help callers identify their member of Congress and connect them. The hours are Monday-Friday from 9 a.m. – 6 p.m., Eastern Time.

Get the word out. Many people seem to be blissfully unaware that their mortgage interest deduction is in danger. Please do the following to make sure that the message spreads.

  1. Forward this message to your family, friends, and clients.
  2. Post this information on your personal and office websites and blogs.
  1. Share this information on Facebook and urge others to share it as well.
  2. Tweet about it on Twitter and urge others to retweet. Use the hashtag: #keepthemid.
  3. Link to the following web page: www.KeepTheMID.com.  This site has information about contacting Congress, more information on the MID, and links to articles.
  4. As you see new information and articles, share these on all your social networking sites.

This affects all present and future homeowners.  Your call to your Congress member is invaluable.

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.