Author: Chris

Orange County’s Best 55 Plus Communities for Home Buyers

Orange County, California, is home to many wonderful 55+ communities that are designed with active adults’ interests and needs in mind. The types of residencies in 55+ communities are usually smaller, with some being townhouses, apartments, and condos. Either way, these units are a great way to downsize and begin a new chapter in life.

From offering a lower cost of living and less competition with buyers to a sense of community and belonging, Orange County’s 55+ communities are great for those who qualify and are having a hard time buying a property in today’s hot market. If you’re planning to buy a new home for retirement, let’s look at three of Orange County, California’s most desirable 55+ communities.

Laguna Woods Village

Laguna Woods Village is a 55+ community located in Laguna Woods, California. This development was once known as Leisure World and was created by Ross Cortese; a fruit stand owner turned developer.

This age-restricted community features fourteen guard gates operated by a private security agency that provides patrol service, traffic enforcement, and 24-hour gate control. The community is made of condo units and single-family homes, so there are many options for types of housing.

If you enjoy recreational activities, there is no shortage at Laguna Woods Village. This community features five swimming pools, four spas, a PGA-rated 27-hole golf course, fitness centers, tennis courts, horse stables, pickleball courts, seven clubhouses, and bocce courts. Moreover, an arts and crafts clubhouse offers a wide range of activities, from stained glass and quilting to lapidary and pottery.

Casta del Sol – Mission Viejo, CA

Casta del Sol is a planned retirement community that’s home to nearly 2,000, mostly single-family, homes. This 55+ community is located in Mission Viejo, CA, and also features guard gates, 24-hour security, and many other amenities.

This community was developed between 1972 and 1987 and is especially great for active 55+ adults. There are many activities and clubs, including the lawn bowling club, vegetable garden club, and lapidary club. Yet, residents can also enjoy bird watching, fishing, boating, walking trails, tennis courts, bocce courts, an aerobics club, and so much more.

Gavilán – Rancho Mission Viejo, CA

Gavilán is a 55+ community for active adults located in South Orange County’s Rancho Mission Viejo. Situated just five short miles from the golden state’s captivating coastline, this historic property comprises over 23,000 acres and features a working farm, nature preserve, fruit orchards, biking and hiking trails, and many amenities.

One of the reasons so many 55+ residents choose Gavilán is because it offers a nice mix of resale and new construction homes. This distinguished community offers fourteen different neighborhoods in the villages of Sendero and Esencia. Residents in Gavilán enjoy many activities, including outdoor pools, yoga studios, great rooms, fitness centers, and more.

Closing Thoughts

Ultimately, California’s housing market has been on fire for the past several years. With competition still stiff, many buyers are forced to think outside of the box when choosing a new home. So, if you are over 55 and looking for a community where you can enjoy retirement – check out the three Orange County, California, 55+ communities we discussed today. There are lots of gorgeous properties to choose from, and with the age restrictions, securing a home is much easier than in other areas.

How to Encourage Homebuyers Who Are Always on the Fence?

If we’re being honest: Some home buyers are challenging to deal with. Some are indecisive and unreasonable, while others are unrealistic and rude, and few of them respect your time. They may change their necessities on a whim, want to view various homes multiple times to ensure it has the right energy or simply back out of a buy at the last moment.

However, some buyers always make excuses as to why it’s not the right time to buy. You may hear things like, “Oh, interest rates are rising,” or “the economy is getting worse, Mercury is in retrograde, and I may lose my job,” or even “prices will come down in six months.” Regardless of the buyer’s excuse, savvy agents should understand how to encourage these buyers to go through with the deal. So, how do you go about this?

Tips to Encourage Challenging Home Buyers

Though there is no surefire way to convince everyone regardless of their situation, there are various approaches you can use in this case. And it all starts with understanding the circumstances that make homebuyers want to buy, so this is what we’re going to discuss. Let’s get started with a couple of quotes.

“If it is important to you, you will find a way. If it is not, you will find an excuse.”

“You can have RESULTS or EXCUSES, not both.”

#1 Their Dream Home is Up for Grabs

The easiest way to encourage those buyers who always find excuses not to buy is to find their dream home in the perfect neighborhood that checks every box. Though this is often easier said than done, it’s been proven that buyers will accept the deal when the right property is available every time. Keep in mind that the ideal homes are not corner lots or on a cul-de-sac, but they are serviced by the best school districts in the area, great parks, excellent views, and more.

#2 The Seller Hires a Professional Home Stager to Create a Gorgeous Home

At one time, properties were flying off the market, and sellers didn’t even consider having their homes staged. However, when times are slow or you’re dealing with difficult buyers, investing in a professional home stager will work to your advantage in many ways.

From the moment they first see the home on the internet to their initial showing, home staging will provide many benefits, including:

  • It ensures an impeccable first impression
  • It highlights the home’s best features and hides shortcomings
  • It allows the potential buyer to connect with the home emotionally and picture themselves living there
  • Having furniture present enables the buyer and agent a palace to sit and get a natural feel for the home

#3 The Seller is Motivated and Flexible on the Price

When it comes to buying a new home, price is always a significant factor. Speak with the selling agent or homeowner and see if you can help negotiate a better price that works for both parties. The more flexible the home seller is, the easier it will be for you to convince a buyer who keeps making excuses not to buy.

#4 The Buyers Understands the Benefits of Owning a Home

Though many people think it’s cheaper to rent rather than buy, the truth is that over the long run, it is not. Sure, the rental deposit is far lower than the down payment on a home, but the renter ultimately pays more per month than they would if they were buying in many housing markets.

Orange County, CA home prices have been on a long-term decades old uptrend. Home equity builds up fairly quick in Southern California.

Furthermore, equity pays off over time and can help the buyer achieve their long-term housing goal. Discussing these benefits with a challenging buyer may give them enough push to buy the property. Just be sure to research every benefit and explain the most significant ones.

#5 The Agent Builds Trust with the Buyer

Finally, the best way to encourage buyers is for the agent to build trust with them. Take the time to get to know your clients and listen to every detail they share. Combine this with showing empathy and asking the right questions, and you’ll make the sale every time.

Best Rated K1 to K6 Schools in Orange County, CA

Orange County is a gorgeous location and one of California’s most popular parts. Millions of tourists flock to this region each year to visit Disneyland, the amazing beaches, and other nearby attractions.

The one thing that most people don’t realize about Orange County, CA, is that it offers much more than celebrities, sea, and sand. What does it offer? It has one of the best public school districts in California, making it one of the best places for families with small children.

Orange County as a whole serves nearly half a million students and is home to over 600 private and public schools. While other school systems in the state suffer due to untrained teachers and underfunded schools, the same is not true in Orange County.

So, if you’re on the fence about moving to Orange County, CA, we’ve compiled a list of the best-rated K1 through K6 schools in the area based on reading and math test scores.

Best Elementary Schools in Orange County, CA

Turtle Rock Elementary

This public elementary school is located near the southern end of Irvine, CA, just a couple of miles from the University of California. The students that attend Turtle Rock come from around the world and speak many languages, which creates a richly diverse student body.

Turtle Rock has an average enrollment rate of around 800 students per year and focuses on academically accelerated classes.  As of July 2022, the average home price for a 3 bedroom is $1,829,000 in in Irvine’s 92603 zip code according to Zillow.

Santiago Hills Elementary

Santiago Hills Elementary, also calls Irvine, CA, home. This school serves children in grades K-6 and features very small class sizes, at just ten students per teacher.

Students who attend Santiago Hills are proficient in reading and math, which is evident by their above-average test scores.  As of July 2022, the average home price for a 3 bedroom is $1,500,000 and condos starting at approximately $595,000 according to Zillow.

Stone Creek Elementary

Stone Creek is situated in the village of Woodbridge, within Irvine, CA. This neighborhood school serves children in grades kindergarten through sixth and has an average enrollment of around 585 students.

Stone Creek places great importance on providing a supportive and structured environment for learning.  As of July 2022, the average home price for a 3 bedroom is $1,450,000 according to Zillow.

Eastshore Elementary

Eastshore is yet another top elementary school located in Irvine, CA. This school is best known for its close ties to the local community. Since this school serves a diverse community and aims to serve the best education possible for every student, it’s an excellent option.

Eastshore K-6 teachers are required to participate in regular staff development workshops to ensure they maintain the skills and knowledge required to teach students in the 21st century.  As of July 2022, the average home price for a 2-3 bedroom in the 92604 zip code is $1,197,000 according to Zillow.

Portola Springs Elementary

Portola Springs Elementary is about inspiring students, staff, and parents to collaborate and communicate to create a vibrant learning environment. At this K-6 school, you can expect to find a safe, innovative, inclusive, and encouraging focus on growth.

Your child will feel joy learning at Portola Springs as they learn to be problem solvers and how to care for those around the community and world.

As of July 2022, the average home price for a 2-3 bedroom is $1,383,000 according to Zillow. Buyers will find there’s active new construction homes for sale in this zip code of 92618.

Golden Elementary

Golden Elementary is located in Placentia, CA., and is a very inclusive school. The staff is caring and ready to learn in a safe and considerate environment where every student has the opportunity to shine.

In the past, this school has been named a Gold Ribbon school and was a 3-time Distinguished School.  As of July 2022, the average home price for a 2-3 bedroom is $1,036,000 according to Zillow in the 92870 zip code.

Canyon View

Our final school on the list of best-rated K1 through K6 schools in Orange County, CA. goes to Canyon View Elementary in Irvine. This school’s mission is to provide the best possible education to every child that comes through its doors.

Canyon View is a wonderful school where your children will learn the value of respect and responsibility in the community.  As of July 2022, the average home price in the 92620 zip code for a 2-3 bedroom is $1,450,000 according to Zillow.

Pros and Cons of Moving into an HOA Neighborhood

Are you thinking about buying a home in an HOA neighborhood? A homeowners association is a group of people who oversee an area of homes by creating and enforcing rules. They are also in charge of maintaining the grounds and are found with most apartment buildings or planned communities. But when considering an HOA neighborhood, you should first weigh the pros and cons. To help you decide if these types of communities are for you, check out our list of pros and cons of HOA living.

Pros of an HOA Neighborhood

There are many benefits homeowners enjoy from HOA neighborhoods. Here are some of them:

Charming Neighborhoods

HOA communities tend to be very charming because all common areas, such as playgrounds and pools, are maintained by the HOA. This is one of the most significant benefits, as it allows you to use great amenities without any upkeep on your part.  Also, HOAs have strict rules on what you can and cannot change about your house, so there’s no worry about a neighbor’s home becoming an eyesore.

Conflict Mediation and Remedy

If you have problems with neighbors, such as loud music being played late at night or a barking dog who won’t stop, the HOA will step in on your behalf and act as a go-between.

This is especially helpful if you’re already attempted to remedy the problem on your own, and it didn’t work.

Can Enhance Your Social Life

Another reason many people prefer HOA communities is because they foster more of a sense of community among the residents. Not only will you have the chance to meet neighbors at HOA meetings, but many of these organizations host social events occasionally. For example, some HOAs host block parties, Bingo nights, etc. But, sharing amenities such as the tennis courts, golf course, or the pool also provides an excellent opportunity to meet other residents.

Cons of an HOA Neighborhood

Most good things in life also have drawbacks, so here are some cons of living under an HOA:

Fees and Other Costs

One of the biggest drawbacks for many is the HOA fees. These fees are paid monthly and are separate from your mortgage. In general, the more amenities a neighborhood offers, the higher the HOA fees.

And you also have to consider that they may make you pay other special assessments, such as costs to maintain or repair roads or even roofs on shared buildings. So, essentially, you’re paying for amenities each month, whether you use them or not.

Increased Regulations

As we mentioned, HOAs usually have many rules, which can be a good thing – but not always. In most HOA neighborhoods, you have less freedom to landscape how you want, are restricted from watering on certain days, and may not even be able to park a vehicle on the street. Other areas that may be regulated include fences, exterior paint colors, hedges, garages, home businesses, swing sets, solar energy installations, sheds, and more.

Foreclosure Risk

If you default on your HOA fees in certain states, your house may be foreclosed upon. For instance, California allows HOAs to foreclose on properties after 12 months or when the amount due is more than $1,800. In other states, there are no limitations to when an HOA can begin foreclosure proceedings on your property. If you are worried about your ability to pay these dues each month, it’s probably best to protect your future and avoid an HOA community.

Ultimately, living in an HOA neighborhood is excellent for some and dreadful for others. So, be sure to carefully weigh the pros and cons of living within this type of neighborhood before you make a purchase.

How the Fed Rate Increase Impacts Us

The federal funds rate doesn’t directly adjust mortgage interest rates. However, the Fed rate does influence the amount of funds banks have available to lend coupled with how much banks are required  to pay to borrow money. Therefore, a Federal Reserve rate increases,  99 times out of 100 it causes mortgage rates to rise for borrowers and affect their home affordability.

Although, there is some good news: If you decided to lock your rate before the increase, you’re in a good situation. Provided your closing date is well before the lock expiration date, you will be assured that rate on your closing documents.  On the other hand if you don’t signed a purchase agreement or need to wait for your home to be built, you’ll have to confirm with your loan officer about your options to lock a rate lock such as 90, 120, or 180 day lock options.

It can certainly be a huge stress to think what will happen with rates during the process as you look for a home. It’s helpful to remember that interest rates aren’t the only element of the housing market that will influence your home buying experience.

As home demand changes prices will also vary up and down. So although the interest rate may be higher for your loan, some or all of it may be be balanced out by a lower contract sales price. The best advice is to stay in touch with your real estate agent and loan officer, so you may modify your home search and finances when necessary.

How the Fed Rate Hike Affects Sellers

We’re still in a seller’s market but reports by realtors is many major cities including those in California and experiencing price reductions. Buyers and Sellers are getting close to equilibrium.

Even though the typical expectation from a Fed rate increase would be less demand for luxury home purchases, some real estate professionals forecast the high demand for housing throughout the country will not abate. Early reports indicate those experts are incorrect as demand and loan application has dropped significantly in June 2022.

Another item you will want to seriously focus on is the pre-approval situation. Try to raise your credit scores if they are not already near their maximum for your next home. Ask your listing agent to make sure each potential buyer has been evaluated carefully and that any pre-approval letters they presented are recent. A pre-approval letter dated over 30-days ago may have problems today and that may affect your next home purchase.