Author: Chris

Consider These Orange County Wedding Venues

The third largest state in terms of land, is well known for its enjoyable Mediterranean climate and endless places to go which include the desert, beach, mountains, vineyards, and more. It’s no wonder California also has among the most desirable wedding venues throughout the U.S.  The following are some of the leading wedding venues in Orange County, California to help you pull off an wonderful celebration.

The Vintage Rose

(714) 516-9590
1160 N Tustin St
Tustin, CA
The ideal blend of European charm and modern Californian style! It brings the romantic spirit of France to the heart of Southern California. You will fall further in love with its artistic splendor and contemporary features:

– The venue can has the capacity for as many as 250 guests.
– There are five areas that can be reserved at The Vintage Rose:
–  Urban Barn (mainly reserved for ceremonies)
–  Cocktail Room
–  Ballroom (where reception is held)
–  Bridal Room
–  Covered Outdoor Space (decorated in twinkle lights)

Seven Degrees

891 Laguna Canyon Road
Laguna Beach, CA 92651
Accommodates up to 300 guests.  The hillside terrace offers a peaceful amazing garden which has a waterfall that goes into a fountain to frame the couple ceremony. The spacious property received an award from the Architecture Guild. It provides couples with a blank canvas so they can start to create an original and artful wedding experience.

Bel Event Productions

8 Whatney
Ste 100
Irvine, CA 92618
Provides floral arrangements and rentals in addition to event coordination. The BEL team has almost ten years of experience designing dream weddings all over Orange County.

Muckenthaler Mansion

1201 West Malvern
Fullerton, California 92833

Magnificent Italian Renaissance style structure rests on nine landscaped acres looking over a quiet residential neighborhood.  Families and guests will appreciate the broad lawns and its grand architecture.  There’s even a picturesque lush green wooded knoll for the bride and groom to appreciate.

Anaheim Hills Golf Course Clubhouse

6501 East Nohl Ranch Road
Anaheim Hills, California 92807

The professional staff will make your wedding experience smoother and less painful. Prices are also pretty reasonable for the service and quality you receive.  Reserve the Clubhouse Grand Ballroom for up to 350 guests, and it has an excellent dance floor. The East Terrace room is great for ceremonies and holds up to 250 guests.

Laguna Cliffs Marriott Resort and Spa

25135 Park Lantern
Dana Point, California 92629

Set on a picturesque bend of coastline with white sandy beaches and mild breezes blowing in from the Pacific, this AAA Four Diamond luxury retreat offers the perfect beach wedding venue. This upscale “California romantic spot” also features acres of emerald-green parks and the never-ending views of the Pacific it produces the optimal scenery for weddings and receptions.

Hyatt Regency Huntington Beach Resort and Spa

21500 Pacific Coast Highway
Huntington Beach, CA 92648
The venues here range from perfectly manicured lawns to ballrooms with stunning coastal views. Whether you dream a simple small gathering or a lavish formal event, your wedding at this ocean view resort will be treated as a very special event.

The Grand Conference Lobby, with its cathedral-high ceiling and second-story balcony surround, has an extensive intimate courtyard ambiance. The property boasts many ballrooms, courtyards, and terraces. If you want an outdoor ceremony the Lighthouse Courtyard is a popular choice. It has a spacious lawn, with large palm trees on all sides, but first you must pass through the Mermaid Fountain to the resort’s spectacular white Lighthouse Tower and Bridge. The ocean view is amazing and uninterrupted here.

Why Did the Seller Reject Your Offer?

Rejected offers can result in major stress and problems for home buyers. An answer of “No” from the seller or their agent is all that it takes for your purchase offer to be declined.  This may be the 3rd or 10th home you’ve made an offer on in Orange County’s competitive market.  So, the home buying process continues but you should learn the reasons why your offer was not accepted to be successful next time.

The following are the four main reasons purchase offers are not accepted.

Declined Offer Reason #1: Your Price Is Far Too Low
1. Sellers can easily feel insulted or angry and turn down the offer instantly.

2. If a buyer offers a very low price, the seller might feel the buyer is not qualified or not serious.

3. If the house was just listed in the last seven days, the seller might think it’s too early to consider and counter an offer that is well under list price.

Reason #2: Selling Agent Is a Jerk
Buyer’s agents who have a reputation as hard to deal with could make the listing agent and buyer’s life miserable while under contract. If the selling agent (buyer’s agent) irritates or bothers the listing agent, particularly while in a multiple offer situation, it shows the buyer’s agent in a bad light. Be certain that your agent isn’t a person who does the following:

  1. Uses an aggressive tone of voice on the phone or in person.
  2. Doesn’t say please or thank you when communicating ever or rarely.
  3. Does not exhibit a level of professionalism towards other agents.
  4. Insults the listing agent by labeling them as stupid, inexperienced or incompetent.
  5. Maintains an attitude of being superior.

When the listing agent has two identical offers to present to the seller they could say, “The Agent for offer number one is difficult to deal with, and the Agent for offer number two is professional. Which offer do you want to consider?” Most sellers given this information will go with offer number two.

Reason #3:  Offer Did Not Fulfill Seller’s Specific Needs
Selling agents should always review the agent remarks in the listing. If they are items you buyer can satisfy, don’t forget to put them in the offer.

1 .If the seller needs a 60 or 90-day escrow period, offer a closing date that works for the seller.

2. If the seller requests a sizeable earnest money deposit, add that into the offer.

3. In some cases, the listing mentions the seller will only accept all-cash offers, so don’t write an offer with financing contingencies or it will probably be declined.

Reason #4: Your offer was too high
Let’s say the seller receives multiple offers that are over list price of $750,000 for a home in Orange County.  The first offer was $15,000 over list price. The second offer was $30,000 over list price. The third offer was $55,000 over the list price using an escalation clause. While the higher third offer was attractive to accept, the agent explained that the home is not likely to appraise for $805,000.

This meant the buyer would have to bring in an additional $55,000 beyond their 5-percent down loan and closing costs. It was later discovered the buyer from the third offer did not have extra funds and would rely on the home appraising higher or receiving a gift. So, the seller chose the lowest offer of the three over list price because if the appraisal came in low that buyer did in fact provide proof of having an additional $15,000.

These are just some of the reasons among many why a buyer’s offer is not accepted. By working with an experienced buyer’s agent at HomeFinderOC.com, you can feel confident of your chances to securing the first homes you make an offer.

Are you planning on buying a house anytime soon?

If so, it would certainly help to know the issues that would likely arise in a routine home inspection

Most Homes Listed for Sale Need Repairs
A thorough home inspection is an essential part of buying any home. I’m sure you’ve heard the expression “buyers beware,” and that definitely applies when you think about the potential cost of unexpected home repairs. Recent data reveals that a typical home inspection will uncover over $11,000 in necessary repairs.

Repairs Can Get Complicated & Expensive
A recent study by Repair Pricer shows that the average homebuyer can expect to be handed a Home Inspection Report with 20+ needed repairs listed and the estimated cost. The report said that the average cost of each repair would be $542, which comes at a cost of just over $11,200.

However, repair costs could actually go much higher. The most common defects uncovered by routine home inspections are:

  • Old roofs needing repair or replacement
  • Air conditioning condensers needing repair or replacement
  • Heating system needing repair or replacement
  • Water heaters needing repair or replacement
  • Leaky window seals needing repair

These particular issues appeared in 9 – 20% of all the inspection reports analyzed by the publication. The estimates for these repairs ranged anywhere from $1,000 to nearly $10,000.

In analyzing this further, Repair Pricer concluded that an individual homebuyer would generally come out better if he/she asked the seller for a credit for the total estimated repair costs rather than asking them to be responsible for making the repairs.

The reasoning is that “if the seller does agree to take care of the repairs, they have no legal obligation to ensure that the repair represents quality work. They often choose the cheapest way to go, leaving the buyer at risk of substandard work. Without a transferable warranty, the buyer would have no financial recourse.”

The report goes on to advise “homebuyers to request a credit, which will give them the funds and the flexibility they need to get the defects repaired in a more realistic timeframe. The buyer can then select the contractor who would make the repairs according to their needs and not the seller’s.”

Common Issues in Home Inspection Reports
The most common issue found in the 50,000 reports analyzed by Repair Pricer was doors that needed adjusting or to be serviced. This appeared in nearly 55% of the home inspection reports reviewed and the average cost of addressing this was averaging between $250-$300.

While this might seem like a minor repair, to the experts door problems often indicate a much more serious problem, issues with the foundation. This is a far more expensive repair and may even lead to other repair issues down the road.

The second most common issue involved leaky faucets, with missing sealant and caulking being the third most common problem. The study went on to say, “Over 54% of homes had missing sealant and caulking. When you add this to leaky faucets you can imagine the amount of water penetration in these homes. This will degrade the insulation, wiring, wood and more. The damage that can result from undetected water penetration can be massive. This is easily preventable, but very costly to repair. As anyone knows, water penetration can often lead to mold.”

Other major issues that kept coming up in these inspection reports were electric outlets without any GFCI protection, missing or malfunctioning smoke alarms and cracks in the sheetrock.

Other Issues of Concern

Grade Slopes Toward the House
If the grade slopes back toward the house this creates a situation in which any ground water will drain back toward the structure. This could cause wet crawlspaces under the house, the foundation to move, settle and crack. Moisture seeping up the foundation can cause the walls and framing to rot, as well as mold.

Indicators of movement in the foundation would be tilted uneven windows, interior doors that when they’re closed, have large angled gaps at the top, and/or floors that are visibly not level. If you notice any of these problems, you can only imagine how much it would cost to correct them.

Leaky Roof
When it comes to roofs, aged roofs or improperly installed roofs are issues that commonly appear in home inspection reports. Other roof-related issues that often show up are in the transition areas with either missing or improperly installed flashing. The repairs could end up being fairly straightforward and inexpensive or the entire roof may need replacing. To be on the safe side, a reputable roofing company should evaluate any issues involving the roof.

Less Bidding Wars for Orange County Home Buyers

When two or more buyers make offers on the same property it’s considered a bidding war. The seller usually accepts the highest and best offer among the multiple buyers along with terms they like as well. Over recent years this was the typical situation in Orange County depending on the price point. That’s when the housing market was unquestionably in a seller’s market and the inventory of homes was lower.

This is fantastic news for potential buyers. They no longer have to be concerned with competing against as many as 20 offers when the seller’s market was at its peak. In addition, there’s more homes for sale to pick from, and mortgage interest rates have been recently dropped. This is becoming a great time to buy a home.

The findings of a February 2019 report by Redfin reveals:

  • Only 13 percent of offers written by Redfin buyer’s agents were in a bidding war. That number represents a 53 percent drop from the previous year.
  •  In every market where Redfin agents serve home values decreased.
  • California housing markets that had the largest percentage declines in home bidding wars were: San Francisco (-64%); Los Angeles (-57%).
  •  One major California city is still among the most competitive and that’s San Diego; yet only one out of five offers by a Redfin agent had buyers that were involved in a multiple offer situation. That number is down by more than fifty-percent versus a year ago 1.

Meanwhile, since January 2019 housing supply has been increasing.

  • According to the most recent RE/MAX National Housing Report, sales of homes have declined for six straight months and is the biggest increase in ten years.
    • RE/MAX analyzed 54 different markets and it showed an average inventory rise of 6.4 percent.

On March 26th, additional evidence of home sales slowdown came out when the S&P CoreLogic Case-Shiller index showed home prices in Los Angeles and Orange counties rose 2.9% in January from a year earlier, but that was substantially lower than other months 2.  In Orange County, sales dropped 17.1% and prices fell 1.4% to $700,000.

What is occurring is actually quite natural according to experts. Through the past few years, home prices went up quickly until they reached a price level  that many buyers became unwilling to pay the high prices. Meanwhile, interest rates were rising and topped out in November 2018. Homes started getting less and less offers and did not sell as quick.

Inventory of homes is also climbing due to buyers sensing the market is near a top, and people don’t want to buy at the peak.

What does this data mean for home buyers?
It’s actually good news if you’re shopping for a home.  There is less pressure for home buyers to accept a house without their desired features such as a large kitchen, a true bedroom with a closet, two-full baths, or a two-car garage.

Market conditions are in your favor get a home soon
Many experts agree: If you qualify, make the most of today’s housing market prices and purchase a home since multiple offers are way down. Real estate is a long-term investment.  So if you come across the house you want, do it now.

Then again, make sure you’re in the right financial position to take advantage. Know what’s on your credit report and make sure there’s not any errors. Get pre-approved for a mortgage prior to searching for a home. Use an experienced real estate agent to achieve your goal.

Sources:
1. Orange County market slowdown – https://www.ocregister.com/2019/03/27/market-slowdown-lingers-as-february-home-sales-drop-12-corelogic-reports/
2. SoCal Home Prices: https://www.latimes.com/business/la-fi-southern-california-home-prices-20190327-story.html

All Things About HOA’s You Want to Know

HOA is an acronym for “Home Owner’s Association.” Homeowners typically pay their monthly/annual dues to this association in the community they reside.

Why is there an HOA?
HOAs are normally created when a developer builds residential property in a particular subdivision or multiple parcels of land. This type of “property” can appear in a number of ways; commonly in a condo building; a town-home complex; and also in a planned neighborhood of single family homes.

The Home Owner’s Association establishes a set of bylaws, which are a wide-ranging set of conditions for residents in the community.  It provides the community with structure, detailing rules and regulations for maintaining common areas the residents share such as the pool, roads, parking, pets, decoration and so on.

What does an HOA Provide?
CC&R'sThe HOA performs duties in the best interest of the community as a whole. HOA’s have “Covenants, Conditions, and Restrictions, or CC&R’s for short.” It’s a group of rules enforced by the HOA that manage the community.

They can determine various things you are allowed to do such as your home’s exterior paint color to additional expenses for roof replacement or renovations. They can even establish how many pets you are permitted to have with you and the size of vehicles.

HOA Budget: Your HOA dues help fund the HOA budget for maintenance of common areas in the community such as landscaping, hall lighting, security, pools, and any other amenities.

HOA Board: An elected board controls the HOA. The board is made up of external members and residents of the community to interview and contract new vendors to take care of the community.  The board can take residents in the community to court or evict them if rules are not followed.

About Homeowner Dues
Dues determine if the HOA will be successful or not. The dues usually paid monthly, quarterly, or semi-annually – may vary a lot depending in the size of the unit and project. In an Anaheim town-home community, for example, your dues can be $275 a month.

In a luxury condo building in Irvine, your dues could be $1,500 a month! It is all based on the requirements of the community. Your dues pay for the maintenance and add to the “reserve fund” in the community. The reserves for a financially healthy community are very likely to range from hundreds of thousands of dollars to millions of dollars for a luxury community at any given time.

When you buy a home, condo, or townhome in a community with an HOA, you’ll want to know how much the dues are. How much they will be in five- to ten- years is extremely hard to know, but there are some red flags to examine.

In particular, if the reserve fund is low, multiple homeowners are late, a major repair is required, owners might encounter an out-of-the-blue “special assessment” that will run you an additional $200 to $1000’s of dollars each month. In the long run, the vast majority of HOA dues will increase to stay on pace with inflation.

Why buy real estate with an HOA?
HOA’s can be a benefit and a burden. Homeowners are protected from loud neighbors, external decorations, illegal additions and property expansions, but they can also seem very strict.  Make sure when purchasing real estate in an HOA community to have precise knowledge what you’re in for from day one.

An experienced realtor will ask the seller’s agent for the management company’s information; after that, you can review a copy of the CC&Rs, hopefully discover more information about reserves and dues, and even learn if the HOA has pending litigation or upcoming special assessments for it residents.