Orange County CA Real Estate

Easements on San Clemente Real Estate can be very standard and actually benefit the property, but sometimes the existence of even a standard easement may make it impossible for you to make certain improvements or alterations to your home or vacant land.

An easement generally involves one property owner granting certain rights over part or all of his or her real estate in favor of another (usually adjoining) for a designated purpose. Examples of San Clemente common easements include a right to drain water, sewage lines, utility easements for gas and electric, etc.

If two neighbors decide that one will grant an easement in favor of the other then it is viatl that the document is properly drafted, signed and recorded with the office of the orange county recorder.

However, some San Clemente easements don't have to be in writing. Examples of such easements include prescriptive easements, which can result for continuous use of property, without permission of the owner, over a period of time,

If your San Clemente neighbor had made a practice of crossing your property to get to his property fro at least seven years, and you knew about it but did nothing to prevent it, he could acquire an implied easement to continue to do so.

Ownership rights of the property can be imported by an easement, but the public and/or private parties benefit from the affirmative use of land for roads, power lines, etc, due to the additional freedom of movement and this type of easement generally does not offset marketability.

Remember that every situation is different and if you have any concern about your rights as an owner or as a purchaser, you should consult a real estate attorney. If you would like to view San Clemente Homes for Sale in the MLS, just click on the hyperlink above.

Aliso Viejo Real Estate prices have climbed considerably over the past 15 years. As a result of the escalating land prices, developers have built many Condos to try to the keep the cost of housing affordable. Aliso Viejo Condos have been a popular choice and in fact, Condos have appreciated at a higher percentage rate than detached homes in Aliso Viejo in the past 3 years. But before you buy a Condo, make sure you do your research of the property and the Home Owners Associations (HOA), for HOA's add another layer of complexity to the decision process. Here are the list of the most common questions that you should ask before you buy:

How do I know if there are any pending issues regarding the Condo Association ? The best way to address this issue, is to review a copy of the Minutes of the Board of Directors meetings. The Home Owners Association is run by the homeowners who elect a Board of Directors (ie: President, Treasurer, Secretary) about once per year. The Board will hire a Property Manager to manage the day to day services that a Condo association will require. The Board usually meets once per month and they discuss any issues involving the Association. These issues, if any, and documented in the Minutes of the Meeting, and should be disclosed to you by the Seller during the Escrow process. Make sure you insist that you get a copy of these documents.

Are there any Pet restrictions? Years ago, a Condo association could have rules and regulations (CC&R's) that prohibited pets. A law was passed in California that made such prohibition illegal, but the association can still have pet restrictions. Today, an Aliso Viejo Condo association can limit the number and size of a pet (ie; no dogs larger than 180 lbs, no more than 4 cats, etc.)

What are the Condo association Dues and what do they cover? Condo association dues in Aliso Viejo will typically run from a low of about $130/mos to a high of $300/mos. Dues will be higher due the following factors; age of the buildings, extensive use of wood siding versus stucco, large landscaped areas, lots of amenities such as pool, spa, tennis courts, gym etc., and mis-management. The dues typically pay for the maintenance of all of the above, plus the basic fire insurance policy.

Are there any pending Lawsuits? An attorney who specialized in Condo association litigation once told me some years ago, that 50% of all Condo associations have been in some sort of lawsuit. These lawsuits are usually with the original developer, or a contractor hired to make repairs, or even with some of the homeowners in rare circumstance. The good news is that most lawsuits between the Condo association and the developer come down on the side of the Condo association. Make sure the Home Owners Association gives you a disclosure declaring if there are any pending lawsuits before you buy. If there are this may affect your ability to get some forms of low down payment financing to purchase

Is the Condo Association responsible for repairs to my Home? Yes and No. A Condo association will make some repairs to your home, but not others. Which ones they are responsible for are usually listed in the Bylaws and/or CC&R's. Typically, the Condo association is responsible for all exterior landscaping, roofing, exterior walls, exterior doors and windows if repairs are due to normal wear and tear. The home owner is usually responsible for all interior walls, flooring and ceilings. Some Condo associations are responsible for water leaks in interior walls, but you will need to do some research to get these answers. You can read to Bylaws and CC&Rs' but a much faster way is to call the Property Manager and ask them.

If you would like to search for Condos and Houses for sale in Aliso Viejo, CA that are listed in the MLS, please visit our website: Aliso Viejo Real Estate,

The passage in 1978 of Proposition 13 restricted local governments ability to pay for capital facilities and services by increasing property taxes. In 1982, Senator Henry Mello and Assemblyman Mike Roos enacted the Community Facilities District (now called Mello-Roos) to provide local governments with an additional way to raise needed funds. Below are common questions and answers regarding Mello-Roos...

How much is Mello-Roos for Aliso Viejo Real Estate? It can vary from about $400 per year on up to about $2,500 per year dependent upon the community and the lot. A few home communities in Aliso Viejo have no Mello-Roos at all.

How do I estimate the Mello-Roos when buying a Home? During the Escrow process, the Seller will deliver a disclosure which will state in writing the exact amount of the Mello-Roos fee. You can also estimate the Mello-Roos prior to making an offer on a home. You take the quoted Tax Assessor yearly Tax amount, and subtract the Prop 13 portion of the tax from this amount. The Prop 13 Tax can be estimated by multiplying 1.15% times the previous sale price stated in the tax rolls. The remainder is a reasonable estimate of your yearly Mello-Roos payment.

How is the Mello-Roos Tax paid? The Mello-Roos is included in your normal tax bill which is billed to you twice per year.

Does the Mello-Roos tax go up when I sell my Home? No, unlike the Prop 13 portion of your property tax, the Mello-Roos portion of your property tax does not change when you sell your Aliso Viejo home. The MelloRoos tax can increase dependent upon the community facilities agreement by about 1% to 2% per year, but it does not have anything to do with the sale price of your home.

Can I deduct Mello-Roos payments from my Income Tax? Most Tax accountants are of the opinion that the Mello-Roos tax is not legitimate income tax deduction. Please consult with your Tax Advisor for final determination.

How long does the Mello-Roos tax stay in effect on my Home? Typically, the Mello-Roos assessment is written for about 15 to 25 years dependent on the community facilities district. Although, many of the districts have the right to renew the Mello-Roos tax if needed.

How do I compare the value of a Home with Mello-Roos against a Home without?  Prior to making a decision to buy a home, here is a simple way to compare the total monthly cost of the home with Mello-Roos versus a home with no Mello-Roos. Say you are considering buying either a home in Aliso Viejo with yearly Mello-Roos payment of about $1,200, or possibly buying a home in say Mission Viejo with no Mello-Roos. To compare the prices of these homes, I take that $1,200 yearly Mell-Roos payment, divide by 12 for the monthly payment of $100. A $100 per month payment is approximately equal to a $20,000 mortgage in today’s interest rates. Therefore the home in Aliso Viejo is actually costing you about $20,000 more as compared to the home you’re considering in Mission Viejo. If the home in Aliso Viejo is still a bit more desirable at a comparative price $20,000 higher than the home in Mission Viejo, then buy it, if not, buy the home in Mission Viejo.

If you would like to view all homes listed for sale in the Aliso Viejo MLS, please visit our website: Aliso Viejo Real Estate,

Keywords: Viejo, Real, Estate, Aliso

It's about time ! Orange County was due.... It's finally been discovered... After decades of living in the shadows of Los Angeles, Orange County has finally come into it's own, and is reflected in the Median price of $603,000 as compared to the median price of Metro Los Angeles of $474,700.

I have felt for years that Orange County, especially south Orange County, has been a fantastic place to call home as compared to metro Los Angeles. One, our air is cleaner the Los Angeles (important to all of us outdoor active types). Two, we have some of the lowest crime rates in the Nation in South Orange County (Mission Viejo was voted the lowest crime city in America a few years back), while LA Metro has some of the highest.

Three, south Orange County was developed starting mostly in the 70's and later, and the city planners did a fantastic job of dedicating open land, parks and green belts along roadways... you won't find the concrete jungle and the Vegas Neon lights in good old South OC... but you will in LA Metro. Fourth, it's the Beaches! and I'm talking some of the most beautiful beaches in the Nation... Yes, Malibu is great but the beaches in Laguna Beach are better.

Fifth, although LA has always been in the lead compared to Orange County in higher paying jobs, that lead has diminished in the past ten years. With the growing business core centers in Irvine, Santa Ana, Costa Mesa and elsewhere, and the diversification of the Orange County labor force in the past 10 years, The OC has been running at about a 3.7% un-employment rate, which has been about the lowest in the country for several years now.

What does the future hold for Orange County home prices? It's hard to know, but as I stated in my July 10 Blog (Orange County Real Estate Bubble... NOT!), I don't see a bubble bursting scenario. Possibly a flattening of price appreciation for several years... but who knows according to Walter Hahn, a veteran real estate economist... Orange County median price will reach $1.4 Million by the year 2014. Maybe now Art Modell will rename the team to the "Orange County Angeles" ... or how about the "The OC Angeles" ?

If you would like to see what homes are selling for in Orange County, visit our website by clicking the above hyperlink.

There are three factors that determine if you have sufficient income to purchase a home withzero down payment, and they are: Purchase price of the home, Interest rates, and debt to income ratio that the mortgage program requires. These three factors are interrelated as described below.

The debt to income ratio is the monthly mortgage payment of the zero down loan, divided by your monthly gross income (not your net take home income).This ratio can vary from 35% to 50% dependent upon the loan program, and your credit score. The monthly mortgage payment is determined by the purchase price, current interest rates, and the type of mortgage program, such as 15 versus 30 years, fixed versus adjustable interest rate, etc.  There is another ratio that mortgage lenders look at which is the total debt to income ratio which is too complicated to discuss here. This ratio also analysis other debts that you may have such as car payments, credit card payments, etc.

You’re your credit rating is reported by three different reporting agencies called Experian (formerly TRW), EquiFAx, and TransUnion. Your rating is boiled down to a single number, called your FICO score. An excellent FICO score would be about 800 and higher, and good scores about 700 to 800, an average rating is about 600 to 700, and a poor FICO score is below 600.Some mortgage lenders even have some zero down loan programs for borrowers with poor credit ratings at somewhat higher interest payments and lower debt to income ratios.

We are sometimes asked if you can buy a home with no money at all. The answer is no under most circumstances. Even thought the down payment is zero, there are sill some closing costs. Closing costs are typically comprised of loan origination fees, loan processing fees, possibly loan points, Appraisal fee, ALTA title policy, and escrow fee. But there are other options. We can sometimes negotiate with the seller of the home to pay for a large part of your closing costs. Our best result to date, is we helped a buyer purchase a Condo in Mission Viejo and their total out of pocket cash expense was $795 !The buyer was a single woman, who was a first time buyer, using a zero down loan that we found for her, and her credit was average. We were able to convince the seller into paying for all of her closing costs except for $795. That home owner now has over $50,000 equity in her home which she can keep tax free if she were to sell that home today!

If you would like to learn more about buying a home in Mission Viejo with Zero down or low down payment, visit our website: Mission Viejo Real Estate

by Vincent Bindi

 

Many homes surround Lake Mission Viejo offering beautiful views of the water and surrounding hills. There are currently 14 homes active for sale and 18 sold in Escrow... a sign of a strong sellers market. These homes are priced from $640,900 for a 2 bedroom, 2 bath, 1,333 SqFt Condo, to a $3.5 Million estate with 6 bedroom, 4 baths, 5,400SqFt, 3 car garage and your own private dock. Below is the complete list of Lake Mission Viejo view homes currently listed for sale:

TYPE	ADDRESS	Br	Ba	SqFt	Price
CONDO	27787 Rota	2	2	1,333	$604,900
CONDO	22482 Formentor 15	2	2	1,477	$699,900
CONDO	27777 Rota 8	2	2	1,600	$699,900
CONDO	22346 Estallens 43	3	2.5	1,781	$724,900
CONDO	27796 Paguera 23	2	2	1,448	$879,000
SFR	22536 Facinas	4	2.5	2,538	$949,900
SFR	55 Windswept Way	4	2.5	2,608	$975,000
SFR	22862 Boltana	5	3.5	3,204	$999,000
SFR	23251 Eagle Ridge	6	3	4,000	$1,289,900
SFR	22821 HUNTER CREEK Crk	5	3.5	3,800	$1,295,000
SFR	22361 Amber Rose	4	3	3,250	$1,375,000
SFR	23165 Stoneridge	4	3.5	4,000	$1,399,900
SFR	22961 Bartolome	4	4.5	4,198	$2,795,000
SFR	27612 San Blas	6	4	5,400	$3,500,000

The first homes built in this lake community were constructed in 1977, and the majority of the homes were built in that decade. Home construction has continued since then with some custom estates being built as late as 2001.

Lake Mission Viejo allows personal water crafts such as paddle boats, canoes, kayaks, sail boats, and eletric powered pantoon boats. For an association due of just $16 month, residents can enjoy the ammenities of this private lake which includes several swim beaches, boating, fishing, parks and numerous events throughout the year.

If you would like a tour of homes for sale in the Mission Viejo lake community, please visit our website by clicking on the above link.

This has to be the wackiest event in the staid and quiet residential city of Laguna Niguel... and it started in 1979 in a bar. Yes, Mooning the Amtrak train has now become a national event. Locals as well as visitors from other states (ie; Michigan, Florida) gathered this past weekend (the second Saturday of July) at a chain link fence across from Mugs Away Saloon to bear their Assets to the passing Amtrak trains.

This year was especially crowed with the streets lined with vendors selling tee-shirts, mugs, etc, Harley motorcycles, tents and $100K Winnebago’s, plus a thousand people or more. It was so crowded this year, that the chain link fence 'Mooning Area' was roped and sectioned off. One particular section was called 'Area 51, the Full Monte section'. I heard that the Amtrak train from Irvine to San Juan Capistrano was sold out for a month or more for this yearly event.

Rumor has it that this wacky event started on the 2nd Saturday of July in 1979 at the Mugs Away saloon when a patron told his buddies that he'd buy them a drink if they ran outside to the rail road tracks and 'Mooned' the next train to pass by. They did and the tradition has prevailed and grown each year since then. It is organized by no one and appears to have a live of it's own. The event even has it’s own motto… ‘Where the Tail meets the Rail' and it's own Un-official website ( http://www.moonamtrak.org/ )

If you would like to view Laguna Niguel real estate assets for sale online, just visit our website by clicking on above link.

The second quarter (April, May, June) od 2005 for closed real estate sales of detached homes in Irvine topped $785,000 for the first time ever. This price advance was caused by the strong demand housing and low inventory of homes for sale. The high demand is primarily to the low unemployment in Orange County, low interest rates, and a renewed interest in all things south OC.

Likewise, the median price for attached townhomes and condos sold in Irvine for the 2nd quarter of this year reached $539,000. Also, sales volume was up to 971 homes sold for the Quarter, as compared to same Quarter of last year in which 764 homes were sold in Irvine.

The popularity of Irvine has been increasing with homebuyers over the recent years with the addition of the Irvine Spectrum, and new home tracts and communities such as Watermarke Condos, Quail Hill condos and detached homes, Monterey in Northpark, Barrington homes in West Irvine and many more. The 2000 US census states that the population of Irvine was 143,072 and it is estimated that the current population is approximately 150,000.

For a list of all homes listed for sale in Irvine, visit our website by clicking on the above link. Here you can also register for an email alert service which will email you homes that have been just listed for sale.

South Orange County homes have tripled in price from the lows of the mid 1990's to a current median price of $615,000. Some fear that a real estate bubble exists that will soon burst as it did in 1990 through 1995. We don't see this as a viable scenario and here's why.

The balance of supply and demand is always the bottom line on home pricing. Supply of housing has been low for several years now, and demand has been up. Back in the late 1980's, new home builders were reckless and built up large inventories of unsold homes which contributed to the glut of housing at that time. Learning from the past mistake, builders today have been constructing 63% fewer homes than they did in the late 1980's, and this rate has not kept up with population growth.

With job growth averaging about 14,500 jobs per year, and builders pulling about 8,500 permits per year (single family and multi-family homes), only about 60% of the demand for new housing is being satisfied currently.

Unemployment in Orange County has been some of the lowest in the country hovering around 3.8%, as compared to 5.7% in Denver, 6.1% in Chicago, 9.2% in Detroit, 6.3% in Cleveland, etc. There are fewer sellers of existing homes since more jobs are available here as compared to many other major metro areas. Whereas, in the early 1990's orange county experienced thousands of job losses due to the Aerospace melt down and other related industries. Also, jobless workers migrate to Orange County looking for higher paying jobs.

Future job growth for the rest of this decade looks rosy as well. High technology is still rebounding from the dot.com crash of several years ago and Orange County is a major player in that arena. Also, bio-technology is poised to be the next big growth sector producing high paying jobs, and from Irvine to San Diego is the bio-tech corridor of the world.

The other factor creating demand especially for south Orange County has been the great quality of life which has been popularized nationwide by the recent success of 'the OC' and 'Laguna Beach' TV shows. People who have become successful in life look at south Orange County as an ideal place to retire or own a second home to enjoy the near perfect weather, beautiful beaches, multitude of entertainment and recreational choices, and robust and diverse economy.

With these factors creating strong demand, and limiting housing supply, we don't see a bursting bubble even if interest rates do rise significantly. At worst, price appreciation may stagnate, and prices could possibly pull back a little bit for a period of time in order for salaries to catch up to housing prices...

For a more in depth look at home prices, visit our website by clicking on the following link: Orange County real estate for sale.

Home Prices in Dana Point currently range from $295,000 for a 1 Bedroom, 1 Bath Condo to an Ocean Front Panoramic View Estate (view above) by the Ritz Carlton for just over $10 Million. This Hi-Tech Custom home sits on 2 lots in the Ritz Cove community of Dana Point and features: 5 Bedrooms, a Library/Media room, Gym with Dance Floor, Large Commercial style kitchen, Indor/Outdoor pool, spa, sauna and upgrades galore... and Oh Yes, a 180 degree unobstrucive view of the coastline and Catalina Island...

For the rest of us, there are 105 Detached homes currently on the market for sale in Dana Point with the Median price being $1,150,000. And there are 52 Attached Condos and Townhomes now on the market for sale and the Median price for this style of home is $592,000.

Homes aren't cheap in Dana Point and Monarch Beach (an upscale community within Dana Point), but most people find it to be well worth with year round perfect weather, warm ocean waters, beautiful beaches and Dana Wharf for boat and Yatch docking. Visit our website below to view all real estate for sale in Dana Point and Monarch Beach.

4th of July is one of my favorite holidays and some say the biggest holiday in the USA... It's regarded as the birthday of this great country in 1776, as a free and independent nation. When the founding fathers singed the Declaration of Independence under the threat of death from the British empire if they were captured... Brave men.

On a lighter side, it's a day when many Laguna Niguel residents fly their american flag with pride. When kids on our street have water baloon fights and the teenagers hang out at Salt Creek Beach. When families in our neighborhood come together to chat, and bar-b-que hotdogs and hamburegers on the street at the end of the Cul-De-Sac. And best of all, it's the day of simulating the 'bombs bursting in the air' with firework displays lighting up the sky.

That's when the cities of south Orange County really shine. From the numerous rolling hilltops of Laguna Niguel and throughout sotuh Orange County, you can see the simultaneous fireworks displays in Lagun Niguel, Mission Viejo, Aliso Viejo and Rancho Sant Margarita. Happy Birthday America from Laguna Niguel, CA.

If you are interested in seeing what homes are for sale in Laguna Niguel, visit our website listed below.

Laguna Niguel Home shoppers are typically very discerning. With prices starting at $400,000 for a small Condo, to Estate properties priced at $5 Million and more... buying a home in Laguna Niguel is a major decision for most people.

There are 3 Keys to selling a home for the highest price possible in a reasonable period of time. First, is to professionally market the home for sale to as many qualified buyers as possible. This can only be practically achieved by hiring a seasoned and professional real estate agent who will give the marketing material a very professional image, list the home for sale in the Multiple Listing Service ( MLS ) and extensively market the home for sale in the Internet. Supply and demand ultimately dictates price, therefore it is important that the property is advertised to as many buyers as possible.

The second key, is to get the property to show it's best. Many little improvements can be done to a home that are free or very inexpensive. Some of these are; removing unnecessary furniture to make a room feel bigger, remove multiple photos from the walls, and numerous nic-nacs from shelves and tables. Trimming the outside landscaping, putting toys, tools and hoses inside the garage. Fix loose door knobs, clean smudges on walls, and dirt spots on the carpets. There are many more tips and suggestions that can be found at our website at www.Search-OCHomes.com

Finally, the last key to a successful sale is to price the home correctly. Obviously, pricing the home too low should be avoided for why give away hard earned equity. On the other hand, pricing a home to high will result in no offers and the home sitting on the market for sale for too long and becoming stale to the buyers in the marketplace.Pricing a home accurately can sometimes be tricky, so be sure to employ the services of a professional realtor to obtain an accurate price.

To find out the value of your Laguna Niguel home or to learn abut our unmatched home sales marketing program, visit our website: Laguna Niguel Real Estate