North Orange County Real Estate

Buying and Selling with Contingencies: Can be Frustrating…

Debbie — Sat, 06 Mar 2010 06:28:12 +0000

This article appears on the CAR.org web site,which is the California Association of Realtors Site. I thought it might be of interest.

http://www.yourpieceofcalifornia.com/news2_080309.asp

Working on this Blog

Debbie — Sat, 06 Mar 2010 06:19:40 +0000

At this time in my career I find my work is expanding in many fields including REO which is “Bank owned properties” as well as “short sale properties” which means the homeowner owes the bank more than the property is worth. These two forms of listings involve much paper work and of course, time.

I have a fantastic teacher from whom I have learned so much. His name is Mark Burrell. I have learned how to create web sites, microsoft programs and more so that I could be most productive in my real estate business.

As a result, my good friend Mark is working with me on improving this site. I am really trying to give it a total make-over not so much in appearance but in VALUE to you, the reader. Therefore, please bear with me. My intent is to give you good CONTENT. I thank you for coming to my web site.

If you have any real estate questions feel free to call me anytime or send me an e-mail at Debbie@DebbieFranklyn.com

2314 s. Mira Court # 160, Anaheim : $ 299,000

Debbie — Sun, 07 Feb 2010 05:24:37 +0000

I am very proud to represent this property. Open HOUSE on Saturday, March 6, 2010 from 12:30 to 4.

Property is a Smoketree Townhome, built by Warmington, located between Harbor and Chapman streets, close to Disneyland Resort, Crystal Cathedral, buslines, shopping, restaurants and more

It consists of 3 bedrooms , 2 bathrooms upstairs, and 1/2 bath downstairs. Direct access from the garage to the house. Step saving kitchen makes dining a delight in the dining area off the kitchen. Warm cozy fireplace is so nice during those cold winter nights!

Living space is about 1392 square feet. Patio in front of property. Great for bar-b-que!

Buyers: What you should know before buying a home….

Debbie — Mon, 18 Jan 2010 04:46:19 +0000

Before you start looking for a home, get pre-qualified for a loan. Banks, credit unions and mortgage bankers make home loans; mortgage brokers process them. The lenders will take an application, process the loan documents, and see the loan through to the funding stage.

If you have marginal or bad credit, consult your lender. You may be able to qualify for a loan depending on how long ago and what reason(s) caused the bad credit. A lender should be able to advise you on whether your credit history will prevent you from qualifying for a home loan.

You will need a down payment. Down payment requirements vary depending on the type of loan. Many down payment assistance programs exist. These programs may loan or grant you the funds necessary for the down payment. Consult with a lender about programs available in your area.

You will need funds for closing costs Closing costs are charges for services related to the closing of your real estate transaction. They include, but are not limited to:
- Escrow fees charged by the company handling the transaction
- Title policy issuance fees charged by the title insurance company
- Mortgage insurance fees
- Fire and homeowners insurance
- County Recorder fees for recording your deed
- Loan origination fees
  Consult your lender for an actual estimate of these costs, as well as information about loan programs which can assist in financing your closing costs
Some loans have “points” and some do not. A point is a loan origination fee equivalent to 1% of the loan amount. Together with the interest rate they constitute the yield on your loan for the lender. Some lenders charge a higher interest rate to compensate for charging no points. It is important to comparison shop lenders to make sure your loan is at a competitive yield.

Should you select a mortgage with a fixed rate or an adjustable rate? The answer to this question depends on whether mortgage rates are at a high or a low point when you purchase, and on how long you plan to live in the home. If rates are high, an adjustable rate might be attractive since subsequent rate drops could reduce your monthly payments. Additionally, lenders may offer a low rate during the first few years of an adjustable mortgage to make it appealing to you. If interest rates are low you might want to take a fixed rate to protect yourself against the possibility of rising interest rates.

Be aware of the two main types of loan categories.
- Conventional Loans. Conventional mortgage loans are available with fixed or adjustable interest rates. Some loans may require mortgage insurance.
- Government Loans. These include Federal Housing Administration (FHA) fixed and adjustable rate mortgage loans, and Veterans Administration (VA) fixed rate mortgage loan
If you are a low or moderate income homebuyer, there are special programs designed to help you. These loans are available through private lenders, as well as local and state housing agencies, like the California Housing Finance Agency (CalHFA). Most lenders specializing in real estate mortgage loans are aware of these types of loan programs.

Why might I have to pay mortgage insurance? Mortgage insurance protects the lender from potential loss if you should default on your mortgage loan payment. Generally, conventional loans that require larger down payments do not require mortgage insurance. Mortgage insurance is always required on FHA mortgage loans.

Many organizations offer home loan counseling to prospective homebuyers. These organizations provide classes for homebuyers to cover the steps to homeownership. They will cover home selection, realtor services, lenders, loan programs, homeownership responsibilities, saving for a down payment, and other important pieces of information. Many first-time homebuyer programs require homebuyers to attend this type of class to be eligible for selected programs.

Call me for a list of approved lenders, some of which may be on this site.

2108 S. June Place, Anaheim

Debbie — Thu, 03 Dec 2009 18:55:09 +0000

Sold in February, 2010 and the new buyer has already moved in.

This is another one story end unit that looks like a little house. It is a 3 bedroom, 1.75 bath home that the seller recently remodeled and updated. This is a stand alone condominium that is also an end unit. Really nice!

We had an open house and multiple offers. Property is located in a Planned Unit Development, otherwise known as a PUD.

Sold for $300,000. It should have sold for more but there are new rules and guidelines for appraisers these days and therefore it did not appraise at the higher sales pice. I shall be having a post later on about appraisals and values of property.

Home Buyer Program Extended……

Debbie — Sun, 08 Nov 2009 06:41:22 +0000

Great News! The Federal Government DID extend the federal tax credit through April 30, 2010,
with a 60-day extension if a binding contract is in place before the deadline. First-time homebuyers will continue to be
eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500.
To qualify for the $6,500 credit, existing homeowners must have lived in their current homes for at least five years.
The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to
$125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.

Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009
income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home
remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.

Nationwide, more than 1.4 million first-time home buyers were given the chance to become homeowners as a result of the Federal Tax Credit for
First-time Home Buyers. It is expected that number to increase dramatically in the months ahead with this new legislation in place.

This was a really successful YARD sale in Anaheim!

Debbie — Sat, 07 Nov 2009 18:20:31 +0000

Well, this day is finally over. The banners were up, the ads in the Pennysaver and the Register, both online and in print were placed. Fliers were delivered to about 500 houses to let the event be advertised……We wanted many people to come and purchase the products for sale that these homeowners no longer wanted. This was a huge success. Not only were the residents able to “empty” their homes, but they also made some money…..and, the public who came got some wonderful “buys”.

If you would like to have a community garage sale as well, please contact me. It would be my privilege to assist and sponsor it for you also. The banners I have had made are reusable; all we need to do is change the date. Feel free to send me an email or phone. This was so much fun, everyone just let their hair down!

2118 W Chalet Ave., Anaheim: Leased

admin — Thu, 08 Oct 2009 05:07:39 +0000

One story 3 bedroom, 2 bath. Great neighborhood, close to Modjeska Park, walk to schools, churches. Close to shopping/buslines and more. Very light, bright and airy. Cozy Jack and Jill fireplace for those cold winter nights! Turnkey property. Just move right in.

Sold Property: 1495 w. Cerritos # 1, Anaheim 92802

Debbie — Sun, 20 Sep 2009 04:58:40 +0000

This property is now in escrow. It is a lovely ONE STORY condo END unit located close to the Disneyland Resort. It consists of 3 bedrooms, 2 baths. The garage is attached to the patio, and when you enter the garage you will walk directly from the patio into the house. It is a beautiful floor plan.

Open, spacious and updated! Sellers want a quick sale.

Sold in 3 days!

Debbie — Fri, 21 Aug 2009 07:44:40 +0000

Wow! I absolutely love representing a client on the sale of their home, and get it sold in such a short time! My client on Mira court was worried she would not find another home to move to so quickly! However, guess what!

Within two weeks, her new home will be ready for move in, and the buyers are delighted. That is what makes my job so rewarding. I have been representing buyers and sellers for about 26 years now, and it continues to delight me! It would be my privilege to represent you, your friends and family. So please call me. I am as close as your phone (or e-mail).