Take a look at the video of this great Mission Viejo pool home – soon to be put on the market for sale!  It’s just been painted, and new carpet and new stainless steel appliances are on the way!

This is the largest model in the Pinecrest community – it has 4 bedrooms,  3 baths, and almost 2000 square feet of living space.   The family room, adjacent to the kitchen, has a wood burning fireplace and a view of the sparkling pool.  There’s also a formal living room and dining room.  Lake Mission Viejo, is nearby, as well as shopping, restaurants, and hiking and biking trails!

Come and take a look before it hits the market!   Call me at 949-584-5221  or send me an email at paul@pauleskildsen.com

Mission Viejo homes for sale in today’s market are moving very quickly – especially with low low interest rates and low home prices!

Pool Home in Mission Viejo – Almost Ready for Sale is a post from: Orange County Real Estate-Orange County Homes For Sale

Check out these Mission Viejo REO homes for sale - three great options for Orange County home buyers looking for a great deal in today’s real estate market.  Whether you are a cash investor looking for a good property to flip, or an FHA 203K borrower - basically building the cost of the rehab into your loan.  Any number of financing options will work!

There’s a four bedroom in Cordova Vista with a built in BBQ and Spa in the back yard, and beautifully landscaped front gated entry courtyard. 

 

Another option for the bargain-hunting buyer is a 4  bedroom in the El Dorado tract with a funky addition in the back yard. 

One more Mission Viejo REO that I would mention is 3 bedroom single level Madrid with an upgraded kitchen and hardwood floors.

Each of these Bank Owned homes for sale in Mission Viejo need work – ranging all the way from your basic paint and carpet, to missing lighting fixtures and rotted patio covers, to dryrot and suspicious holes in walls and ceilings, and major issues with unpermitted additions.  The good news is that they all have all the normal and customary kitchen appliances and bathroom fixtures (like toilets.)  For those of you who have seen an REO without a kitchen and with the toilets and bathroom sinks removed, you will know what a relief this is to see.

Check in with us for all the updated information on great deals on homes on the market in Mission Viejo and other great South Orange County communities like Rancho Santa Margarita, Coto de Caza, Ladera Ranch, Laguna Niguel, and Dove Canyon.  We never want you to miss out on a great deal on a home for sale that might be perfect for you!

Mission Viejo REO Homes for Sale – Market Update is a post from: Orange County Real Estate-Orange County Homes For Sale

Buyers often have their “dream home” in mind when shopping homes for sale in Mission Viejo, but sometimes beauty is in the eye of the beholder!

With Low Inventory, Many Homes Have “Issues”

FHA or VA Financing on a Fixer

Many investors love a fixer home, because it provides an opportunity to buy at a discount and make only the repairs that are needed to profit by “flipping” (sell it quickly) or renting.  If you’re planning to live in the home you have a little different perspective.  In addition, your financing can be a hurdle when there are “livability” issues, or required repairs that the lender may not allow the buyer to pay for.  With FHA, a 203k Rehab Loan is a possibility.  With a VA loan, it’s important that the buyer be very clear about the cost of repairs that could either scuttle the purchase, or cause problems after the sale.  Your Mission Viejo Real Estate Agent should be able to help you understand the difference between a potential big problem and a potential diamond in the rough.

Buying a “Fixer” Home in Mission Viejo is a post from: Orange County Real Estate-Orange County Homes For Sale

Have you seen some Mission Viejo homes for sale that are priced too low to be believed?  How about that condo that was listed for $188,100, went into escrow 8 days later, and sold for $220,000?

Low Prices Attract Lots of Buyers

Did seeing such a great price work you into a frenzy, only to learn the home sold in a matter of hours?  What’s going on here?  If it is listed so low, why doesn’t is sell for that low price?  Why does it end up selling for above, often WAY above the asking price?

Well, pricing a home in Mission Viejo below the other similar homes is a stragey that is working for some home sellers in today’s market.  Basically, it helps to attract a bunch of offers from Mission Viejo home buyers looking for a great deal in today’s Real Estate market.  It can be super exciting if you are a buyer thinking that the house you are interested in could be yours for a song!  But then you find out that there are six or eight other offers already submitted at prices above the list price.

The fact is, the market sets the price.  There are many other buyers looking for the same deal you are looking for and recognize an eye-popping price when they see it.

How Can a Buyer Be Successful?

My best advice is to use all the tools available to you to stay on top of the market.  Work with an agent who is committed to keeping you up to date.  Set up a saved home search on a website like this one, or ask your agent to do it for you.  Most important, be prepared to act immediately, and understand that it might take more that one offer to own that dream home.

Why Some Mission Viejo Homes are Priced Below Market Value is a post from: Orange County Real Estate-Orange County Homes For Sale

The inventory of homes for sale in Mission Viejo and other cities in the Saddleback Valley area of Orange County continues to fall, as it has across the nation.

Two and a Half Years of Falling Inventory

While the number of homes sold continues a climb from 3-year lows, the number of Saddleback Valley homes for sale in Mission Viejo, Rancho Santa Margarita, Ladera Ranch, Lake Forest, Coto de Caza, and Modjeska, Silverado and Trabuco Canyons continues to fall.  From a peak of 2,326 homes on the market in July of 2007, we’ve fallen to only 771 homes for sale!  That’s a 67% drop, and includes a 38% drop in inventory from January of this year.

Not Just Orange County – It’s a National Trend

The supply of newly-built homes fell to its lowest levels since 2006, offering additional proof of a housing market in recovery.  Home supply is defined as the amount of time it would take to sell the current inventory of homes at the current pace of sales.  In October, for the 8th consecutive month, home supplies fell. Since peaking in January 2009, it’s now down by almost half.  Lower supply leads to higher prices.  This is Economics 101.

While this is happening, buyers are eagerly taking advantage of low mortgage rates and federal tax credits for buying homes.  It’s pressuring home prices higher overall.  Since January 2009, the average sale price of a newly-built home is up 6 percent.

Mission Viejo Real Estate Inventory Keeps Falling is a post from: Orange County Real Estate-Orange County Homes For Sale

Appraisals for loans for Mission Viejo Real Estate, and all Orange County homes for sale, are causing buyers problems today.

Home buyers in Orange County, CA Beware!!

With the implementation of HVCC, the appraisal process has changed, and the changes are causing a ton of problems – like escrows falling apart, contracted contingency removal time frames being violated, and homes not appraising for the purchase price offered by the buyer. And with VA appraisals, it’s even worse! The appraisal stays with the property and the buyer does not have an option to make up any shortfall in the price. It is getting harder and harder for Orange County, CA buyers to actually buy homes for sale in great neighborhoods like Mission Viejo, Rancho Santa Margarita, Irvine, and Coto de Caza.

What can you do to protect yourself?  Go with a direct lender with plenty of experience, count on your Realtor to guide you through and hope that the efforts of the NAR President Charles McMillan in New York and Washington, DC next week will help the government work out the kinks.

Apprais-Hell!! is a post from: Orange County Real Estate-Orange County Homes For Sale

Great Prices are Getting Even Better on Mission Viejo, CA Homes for Sale

There are some great homes in Mission Viejo listed for sale at really great prices – like 4 bedroom 2 bath single story homes for under $500,000.00.  There’s even a 6 bedroom 3 bath pool home with almost 2900 square feet in the Madrids listed for $585,00.00.  Now, this one is a Short Sale – heaven only knows what the bank will take for it – but my goodness!  That’s $202.98 a square foot – on a 10,000 square foot lot  – with a pool!  Unbelievable!

Some of these homes have been upgraded, have large lots (by Orange County standards!) and are in great school districts – some in Saddleback Valley Unified School District and some in Capistrano Unified School District.  With access to Lake Mission Viejo and views of the Saddleback Mountains.  Take advantage of today’s great mortgage interest rates, which are likely to get even better in the next couple of days.  There hasn’t been a better time to buy a Mission Viejo home for sale in Orange County in quite some time, and it is not going to last forever.  Get the Mission Viejo home you want at a monthly mortgage payment you can afford and then relax and enjoy your new home!

Mission Viejo Homes for Sale at Great Prices is a post from: Orange County Real Estate-Orange County Homes For Sale

Mission Viejo Real Estate Today – What You Need to Know

If you are thinking about buyng a home in Mission Viejo, you need to be aware of the status of the each home you consider.  This will update you on the three real estate markets at play in Mission Viejo in today – REOs, Short Sales, and Equity Owners.  As a Mission Viejo real estate agent, this is really important information for my clients to know so they can make the best decisions regarging their home purchase.

Mission Viejo REO Homes for Sale

If you are interested in Mission Viejo California real estate and what’s going on in the market, there are 28 homes for sale in Mission Viejo that have been through the foreclosure cycle and are owned by the bank – these are called REOs or Bank Owned homes. When you make an offer on an REO home, you will get a response from the bank very quickly.  You will also be required to buy the home as is, with no disclosures, and with a very short escrow.

Seventeen of the Mission Viejo REOs homes are condos and 11 are single family detached homes. They range from a 1 bedroom 1 bath condo for $139,000 in the Valencia neighborhood. 

to a 4 bedroom 3 bath home in Agean Hills with 3200 square feet listed for sale at $509,900.00

to a 4 bedroom 4 bath 4000 square foot  view in awesome Stoneridge for $829,000.00. This home sold for $1,250,000 in 2006.  WHAT A STEAL! What does this tell you about great deals on buying homes in Mission Viejo?

There are 36 Mission Viejo homes that are REOs in escrow today - the average days on the market for these sold homes is 42 days.  This is by far the fastest moving market in Mission Viejo.

Mission Viejo Short Sale Homes for Sale

There are 143 Mission Viejo Short Sale homes for sale in today.  These range from a

1 bedroom condo listed at $139,900 in Las Palmas

to a 3 bedroom 2 bath 1800 square foot single story home in the Madrids for $530,000

to this beautiful 4 bedroom 3 bath home with almost 4000 square feet in Stoneridge with a pool and a waterslide, listed for sale at $849,900.

The thing to remember about making an offer to buy a Short Sale home in Mission Viejo is that you may wait weeks or even months to hear back from the bank – and while you wait, other people can continue to submit offer – some of which may be higher than your offer.  One strategy to consider is to make offers on every Short Sale home that you have any interest in, just to be in the game.  This process can be very frustrating – buy if you are patient and have a good Mission Viejo Real Estate agent, it can certainly work in your favor.

Mission Viejo Equity Owner Homes for Sale

There are 210 homes in Mission Viejo that are not in a “distressed” situation, these owners just need to sell for whatever their reason may be.  They will respond to your offer rather quickly, be able to provide you with information on the history of the home (disclosures) and be open to some level of negotiation on price, terms, and repairs.

There this 4 bedroom 2 bath 1460 square foot single family home in the Barcelona neighborhood listed at $420,000.

Here’s a 3 bedroom 2 bath home with 1750 squaare feet, single story, single family home in the La Paz neighborhood offered at $559,900.

Or you may prefer this 5 bedroom 3 bath home with almost 2300 square feet offered at $649,900.

There are so many choices of homes for sale in Mission Viejo today – which is why it’s called a buyer’s market.  Now is a great time to buy Mission Viejo Real Estate – to make the market work for you.  Just a thought to leave you with – you don’t wait to buy Real Estate, you buy Real Estate and wait!  Go find a great deal on and buy a Mission Viejo California home!

Mission Viejo Real Estate – Taking Advanage of Today’s Market is a post from: Orange County Real Estate-Orange County Homes For Sale

Mission Viejo REO Homes for Sale

As of this post, there are 25 active REO homes for sale in Mission Viejo.  36 Mission Viejo REOs are already in escrow.

These range from a $185K 1 bedroom 1 bath condo in the Las Palmas complex to

a 5 bedroom 3 bath almost 3000 square foot home in Pacific Hills for $745K – that’s $250 a square foot!  What a deal!  And this one look to be clean and undamaged in a major way.

My pick for the day is a single story single family detached home in the La Paz South tract.

This home has been on the market since March when it was a Short Sale listed at $699K – during this time there was no lock box and limited access to show the property.  Prior to that it was listed at $780K.  The bank’s loss is your gain!  Expect, at a minimum, some cosmetic work will need to be done, and as always, get a thorough home inspection in order to avoid as many pit falls as possible!

Remember the Top Tips for going after an REO listing – and go for it!  Just make sure you have your financing in place with a lender who is on top of today’s changing market – and a great Realtor.  This is the market where Real Estate fortunes are made – be one of the winners!  Get a great deal on a Mission Viejo REO home for sale today.

Mission Viejo Homes for Sale – Market Update is a post from: Orange County Real Estate-Orange County Homes For Sale