Some of us have heard how some homeowners on the verge of losing their homes to foreclosure have sold and/or ripped out everything, including the kitchen sink. For some it may be an attempt to make a few bucks and/or retaliation against their lender.

Last year one of my clients who bought a foreclosure property mentioned that she found used appliances for the home on Craig’s list. Right after our closing she had commented how many matching sets (of appliances) were listed for sale and thought they must have come been ripped out of another foreclosure sale.

Then last week a fellow REALTOR mentioned that  a neighbor held a “Demolition Sale” on their soon-to-be foreclosed home.  She said the owner sold everything he could even including the bathroom fixtures!  Any and everything was for sale. I let her know that was a very serious situation and lenders were beginning to prosecute people for doing so.

Then just the other day I received an email alert from legal counsel for our Association of Realtors reiterating that fact.

The report said in summary, damages intentionally caused by the mortgage holder can be subject to criminal and civil penalties. In fact, removal of fixtures valued more than $100 constitutes a felony in the State of California and can result in a state prison sentence for a year or more.

Even fixtures totaling less than $100 can result in a misdemeanor and could include county jail up to one year and/or a fine up to $1,000.

Some may think it’s about big business, you know the ones with deep pockets “getting even with the man” but situations like this can impact us all. We know that stripped down homes, whether they’ve been vandalized by outsiders or damaged by homeowners usually sell for considerably less than others. Sales like this further add to the decline in neighborhood home values.

So the next time you hear of someone contemplating something like this, educate and inform them of the costly consequences.

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Lynda Eisenmann, Broker ~ PreferredHomeBrokers.com serving Southern California cities for more than 30 years working with home buyers and home sellers. Text or direct 714 595-1494. CA Department of Real Estate License #00492040.

This report is intended to give you an overview of the real estate market compared to prior months  in La Habra for both single family homes and condominium sales.

If you’re a home buyer or a home seller it’s essential you have an understanding of today’s real estate market when it comes to market conditions in pricing and inventory. As inventory, (homes for sale) continues to decline it’s still a matter of supply and demand, therefore prices have continued to decline in each month of 2007.

Oneof our biggest issues at this point is financing. While FHA financing is available at increased loan amounts, conventional financing especially in large loan (we refer to as jumbo) remain difficult. If you’re a home buyer you want to begin the loan process in advance of your home search. Once approved you normally have great strength in bargaining on prices.

If you’re a home seller, pricing your ahead of others is crucial for a timely sale. That’s right, pricing it ahead of the competition, including foreclosures/bank owned properties.

Single family homes range in price from $180,000 to $1,675,000, although only 4 were priced over $1,000,000.00 (exactly the same as last two months).

128 homes were for sale, down for the past seven months and compared to 153/180/129/149/153/182/216 prior months.

• 20 pending sales in escrow during the month, and compared to prior months of 19/34/24/18/25/34/37 pending sales.
• 42 homes closed DEC, up from 30 last month and compared to 35/2/27/14/25/26 prior months.
• $471,000 was the average asking price.

$470,000 was the average closed price (up from $432,000 last month and $389,000 the prior month) for 1,680square feet with an average of 101 days on the market.

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Condominiums range from $115,000 to $399,000.

• 65 condo/town-homes were for sale, as compared to 71/72/63/82/83 in prior months.
• 7 pending sales (currently in escrow) in escrow, compared in 6/12/23/11/6/5 for prior months.
• 11 closed, compared to 10/3/8/10 in prior months.
• $218,300 was the average asking price for a 2 bedroom/2 bath, 1032 square feet with an active days on the market of 92.
• $199,477 was the average closed price (compared to $202,700) for 2 bedroom/2 bath, 1,012 square feet, with an average time of 69 days on the market.

Check out August 2008 report here, or view September 2008 or October 2008, or see my So Cal Home Prices A Foot At A Time.

La Habra is well known for the lively Children’s Museum,  click here to see more, we’ve been there many times ourselves with our family   If you’re interested in learning more about La Habra check out Living in La Habra, and see why La Habra is a city with a heart.

Want to know more about La Habra Real Estate? Contact me Lynda@PreferredHomeBrokers.com, view Preferred Home Brokers and see why we’re one of the longest established independent brokerages in Orange County under the same ownership

If you are thinking of selling your Orange County home consider this:

• 84% of all home buyers begin today with the Internet for their home search.
• 80% of Orange County is on-line.
• The average age in Orange County is 36 and I don’t know of a “thirty something” person in Orange County who is not on line.
• For  the maximum on-line marketing exposure contact me Lynda@PreferredHomeBrokers.com

La Mirada, CA 

Single Family Home Activity for November:

• 108 re-sale homes currently for sale in the city, exactly the same as 60 days ago and approximately 30% fewer in the last few months, and far  fewer than the beginning of the year. 
• Average asking price is $451,000 ($25,0000 lower than 60 days ago) for a 3 bedroom/2 bath home, 1,675 square feet.
• 16  pending sales (in escrow) down from 19 sixty days ago and only about 1/3 of the sales of prior month. 
• 26  homes closed escrow, compared to 20 sixty days ago and down from 31 and 37 for prior months. 

Condominium activity for November: Condo prices for the month ranged from $150,000 to $305,000.

• 22 condos are currently for sale, down from the past few months.  
• 4  pending sales, (in escrow) compared to exactly the same as sixty days ago, and a little higher than prior months. 
• 5 properties closed escrow, compared to 3 sixty days ago.   

***The City of La Mirada has a 4.8 month supply of homes for sale,  down from prior months. That’s the length of time it would take to sell the existing inventory of homes for sale, provided sales continue at the same pace this year as in 2007, and providing no new listings enter the market place.

If you lived in La Mirada, California you would be approximately:

• 27 miles east of LAX ~ Los Angeles International Airport ~ Los Angeles, CA
• 23 miles north/west of John Wayne Airport ~ Santa Ana, CA
• 36 miles west of Ontario International Airport ~ Ontario, CA
• 10.5 miles north/west of the “Happiest Place on Earth” Disneyland ~ Anaheim, CA

Contact me for help with La Mirada real estate, Lynda@PreferredHomeBrokers.com

September was a rough month for home sellers in La Mirada, while the inventory has declined, it’s been ditto for home sales and prices.

Single family activity for September: Home were priced from $299,000 to $1,095,000, all but one is under one-million dollars.

• 108 re-sale homes currently for sale in the city, down approximately 30% from last few months, and far  fewer than the beginning of the year.
• Average asking price is $475,000 for a 3 bedroom/2 bath home, 1,677 square feet.
• 19 pending sales (in escrow) only about 1/3 of the sales of last month.
• 20 homes closed escrow, also down from compared to 31 and 37 for the last two months.

Condominium activity for September: Condo prices ranged from $120,000 to $570,000.

• 31 condos are currently for sale, compared to 26 last month and about the same as July and down around 18% from early 2008.
• 4 pending sales, (in escrow) compared to 6 in August and 1 in July and a little higher than prior months.
• 3 properties closed escrow, compared to 4 last month.

***The City of La Mirada has a 5.4 month supply of homes for sale, down exactly 30 days from last month and down 60 days from July. That’s the length of time it would take to sell the existing inventory of homes for sale, provided sales continue at the same pace this year as in 2007, and providing no new listings enter the market.

Recently I came across this article posted by fellow REALTOR Ashley Drake of Albuquerque  NM. I know Ashley is the top Realtor for Albuquerque, she’s also well written and widely read throughout the internet. I contacted Ashely and she was only too happy to share her information with my readers.

Read what Ashley has to say about buying a pool home.

When you’re ready to take a splash and buy a home with a pool, there are             several factors for your consideration.

Utilities - Ask to see a year’s worth of utility bills. Find out what months the previous owners have kept the pool open as well as the average temperature they’ve kept the pool heater set. Your usage may differ and you should take that into account.

Maintenance and repairs – Even if you plan to maintain the pool yourself, factor in the cost of chemicals. If you plan on hiring a pool service, be sure you understand the cost of not only weekly service, but opening and closing the pool each year.

Maintaining the pool – If you plan on maintaining the pool yourself, make sure you understand how much time this will take. If you hire a service, you generally wouldn’t need to be home.

Landscaping – Does the current landscaping have a bearing on keeping the pool clean? Overhanging trees may drop leaves or grass may blow in during mowing.

To read the rest of Ashley’s report click here

• Thank you Ashely for providing us with the great information.
• If you find this information helpful, please let me know, I’d love to hear from you.
• For So Cal real estate help contact me Lynda@PreferredHomeBrokers.com

Thanks Ashely for providing us with the great information.

The truth is, there are times of the year which are normally better than others. It can also vary depending on your locale. Are you in a year round market vs. a seasonal one? Is weather a factor in your market? And what about schools in your area, year round or traditional scheduling ?

In addition, timing a home sale can also depend on market conditions like supply vs. demand of similar homes. How many other homes are for sale in your market place? I’ve actually seen markets change almost over night. I can tell you specifically in the 3rd quarter of 1989 for example. Most recently last June of 2006, I observed a market shift. It can be a result of economic factors, i.e. interest rate, job loss/unemployment rate, that sort of thing. It can also be confidence (or lack of it) in the real estate market itself.

In the past I’ve had home sales on almost every day of the year on the calendar, except for Christmas. Although I have written offers (for buyers) and presented offers early on Christmas Eve. From past experiences I’ve described a holiday market as sluggish, however those looking at homes between Thanksgiving and New Year’s are usually serious about buying.

So with all that said…ultimately, it’s up to the home owner. When is the best time for you? You decide when it’s the right time for you to say good-bye to home sweet home.

If you’re serious about selling your home in today’s market, contact me, Lynda@PreferredHomeBrokers.com, to view www.preferredhomebrokers.com.