homebuying – Page 3 – OC Neighborhoods

New Homes in Family-friendly Cities in South Orange County

Caressing the foothills of the Santa Ana Mountains, and seated next to the Pacific Ocean, Orange County, California has a number of perfect locations suited for most anyone’s lifestyle. To help you choose a spot, we’re looking at some south Orange County cities and what they can offer residents.

San Clemente

San Clemente is a wonderful community on the coast and excellent choice for people who enjoy living near nature. There are numerous trails for hiking and biking spread throughout beach areas and ridgeline, where of course lies a really nice beach. The city features a great family-oriented environment coupled with restaurants in a walkable town

Median household income: $87,184 ¹
Unemployment rate: 3.5%
California unemployment rate: 7%
Average home price sold: $784,400 ²

source: Realtor.com
Source: Zillow

Available New Homes for Sale in San Clemente

Alta at Talega from Standard Pacific

Conveniently situated within the master-planned community of Talega in San Clemente, Alta boasts fine quality luxury homes, popular areas for entertaining outdoors or inside, spacious lot sizes and fantastic amenities.

Some of the features at Alta include:

– Spanish, Tuscan and Italian architectural styles
– Floor plans ranging from 4,570 to 5,336 square feet
– Views oceans of with certain homesites
– Four to five bedrooms, up to five-and-a-half baths
– Prices start from the mid $1,000,000s

Carillion at Talega

Expansive luxurious, family homes in the coastal hills of Talega. Residents in the neighborhood enjoy the privilege of a 1,000-acre nature reserve, adventurous trails, parks, athletic fields, golf course and the Talega Swim & Athletic Club.

– Spanish, Tuscan and Monterey architectural styles
– Floor plans spanning from 3,484 to 4,061 square feet of living space
– Four to six bedrooms and three and-a half to five-and-a-half baths, spacious great room; certain plans offer bonus room with a covered deck or balcony
– California Rooms with fireplaces and optional panoramic-style doors result in additional entertaining space
– First-floor guest room with kitchenette perfect for relatives and friends
– Priced from the low $1,000,000s

Mission Viejo

Courtesy of Flick - Brent bmh4you — Courtesy of Flick – Brent bmh4you

Mission Viejo is a large master-planned city with people coming from diverse backgrounds. While this city is not coastal like much of south Orange County, there is a huge lake in the middle along provides residents of this hillside community access to lakeside property and an array of aquatic things to do.

It is extremely family-friendly, has large homes on large lots, a good majority of the city is zoned residential, and consistently ranked as very safe with low crime rate. If you participate in outdoor activities, it offers residents two parks for every square mile, three golf courses, and a magnificent park featuring eight baseball fields and five soccer fields.

Median household income: $102,926 (source: Realtor.com)
Unemployment rate: 3.5%
California unemployment rate: 7%
Average home price: $580,502 (source: Realtor.com)

New Homes Available

Sendero at Rancho Mission Viejo by Ryland

Sendero is the perfect place just 5 miles from the ocean up Ortega highway offering comfort and convenience. Experience living in a 23,000-acre retreat close to the Ranch Farmers market. The area has citrus and avocado groves, a nature reserve, and agricultural areas.

– Two-story heritage architectural styles
– Floor plans ranging from 2310 to 2610 square feet of living space
– From three bedrooms and two and-a half to three baths
– Priced from $740,900 and up

The Bungalows at Rancho Mission Viejo by Standard Pacific

Ranch-style residences set behind private gates offers first-rate craftsmanship, single-story residences and a active community life for those 55+. Only 3 homes left

– Two-story heritage architectural styles
– Floor plans ranging from 1,276 to 1,843 square feet of living space
– From two to three bedrooms and two baths
– Priced from $790,000 and up

Lake Forest

Small, safe and well-planned neighborhoods give Lake Forest an irresistible charm. The landscape is full of hills and, akin to its name, a wealth of trees. Although Lake Forest is a suburban dream it neighbors Irvine, the business hub of Orange County, making it a prime location for young professionals to established families. Lake Forest also has two lakes, a couple of parks, the largest skate park in CA.

Median household income: $120,197 ¹
Unemployment rate: 3.0%
California unemployment rate: 7%

Median home price sold: $532,700 ²
Housing: Inventory varies from post-WWII tract homes to condo communities, multi-family complexes to gated communities, with each being priced reasonably.
1. source: Realtor.com
2. Source: Zillow

New Homes Developments in Lake Forest

Highlands at Baker Ranch by Toll Bros.

A luxury community of single-family homes providing homeowners spacious home designs, positioned on generous-sized home sites with optional add-on upgrade for exterior decks

– Two-story contemporary styles; Tuscan, Santa Barbara and Mediterranean
– Floor plans ranging from 2,966 sq. ft. to 3268 square feet of living space
– From five to seven bedrooms and four and-a-half baths to six and-a-half baths
– Priced start at $1,064,000 and up

Ridgewood at Baker Ranch by Shea Homes

– Two-story Spanish, Italian, and California Ranch style with 3 floor plans
– No Mello-Roos Taxes (save some money)
– Floor plans ranging from 2,124-2,390 square feet of living space
– From 3-5 bedrooms and 3.5-4 baths to six and-a-half baths
– Prices start in the low $814,000 and up

Don’t delay any longer in search for a home in your favorite Orange County suburb. In Orange County, you’re never too far from LA and San Diego and can have a soldi family life and enjoy beautiful beaches and excellent food any time of the year. So email or call us to make your appointment to see these new homes or other real estate in Orange County.

Source: ca.gov
Unemployment rate source: Homefacts

Don’t Take Inspections Lightly When Under Contract

In the very desirable Southern California real estate market, making an offer to buy a home typically entails competing with other real estate agents submitting offers with less contractual contingencies pertaining to financing, appraisal value, closing dates, and even inspections. While it is true your purchase offer may appear more favorable to the seller, you could be moving into a money pit by being careless with interior inspections.

Home Inspection in Orange County, CA — physical inspection underneath a home in OC.

The Home Inspection

As with all things in life, there are some highly-rated inspectors and those inspectors who you would never recommend. Asking your real estate agent, loan officer, or friend/relative who bought a home nearby might be a good start. Prospective home buyers might also want to make sure that the inspector is certified, licensed, and insured.

If the inspector uncovers problems that need to be corrected, knowing how bad it is, how much to fix, and how long it will take are crucial to completing the transaction. Usually the inspector will be able to tell you exactly how to fix the problem, the estimated time, and the cost to repair or replace the problem..

Here are some reasons why the buyer should have one performed:

Peace of mind — It makes the buyer content that the home is decent and livable condition.

Renegotiate – If problems do surface, the buyer is in a position to ask the seller to make repairs, give the buyer a closing cost credit, or lower the purchase price so he can fix it after escrow

Cancel the transaction — If the problems uncovered are overwhelming with substantial costs to fix, the buyer can cancel purchasing the home.

Since there are two parties involved in the transaction, it will help the seller by dealing with any concerns ahead of time that could hinder the sale of their home. The seller can obtain repair estimates prior to listing the house for sale.

Transparency — Having available a pre-inspection report for buyers shows them the cost of repairs and that the seller is being transparent.

Whatever you do, do not rely solely on the advice of a home inspector’s assessment of termites. And if the subject property is on a hill or slope, you definitely want to get a geological report to assess the geological risk involved in the purchase of a home on a hillside.

The Termite Inspection

Using a licensed pest control company inspector who is experienced in finding the existence of wood destroying pests and then providing a report on his findings and recommendations for correction is a very smart idea. In fact, it is so smart, that any buyer who will obtain financing must have this completed on homes in California. An inspection for termites can potentially save you lots of money in damage repairs that pests might cause if not inspected.

They will typically inspect every visible area of the house that is accessible. If infestation evidence is found, the evidence is put on their state-approved forms and they recommend forms of treatment, either spot treatments or tenting the entire structure. Keep in mind that the inspector cannot see or detect infestation behind walls, paneling, cinder block wall voids, or beneath carpeting. Infestation in these areas may continue to be undiscovered.

Geological Inspection

The potential geologic hazards that are present, within homes situated on hillsides, may be very easy to the expert’s eye but missed by the person without specialized knowledge in geology. Possible geologic hazards that go unrecognized can show up at any time, resulting in hefty financial losses coupled with lawsuits for liability. If you think it can’t happen to you, don’t forget the Bluebird Canyon landslide in Laguna Beach (http://www.ocregister.com/articles/home-137081-city-canyon.html) on June 1, 2005, which destroyed 12 homes and disrupted the lives of dozens of residents.

It’s a jungle out there, for both buyers & sellers…watch out folks. Get represented by a real estate company who is on top of things so your best interest are always a priority number one.

Is it normal to have made 25 offers in 3 months and not one be accepted?

It’s a pretty common theme in California’s housing market where you are all ready to pack-up and move into your new home. The only glitch is you could be up to 50 offers in six months and nothing worthwhile has been accepted. So what more can a buyer do in this situation?

You are up against a few major home purchase obstacles:

The price range you are shopping in is very active with all-cash buyers and fetches multiple offers
As a buyer using a low down payment program such as the 3.5% FHA or 5% down conventional loan, you are competing with buyers who have stronger financial qualifications.

Sometimes, it is the agent and other times it isn’t.

Here are some effective strategies that should be used:

Find out if you’re able to be approved with a 10% – 20% down payment conventional program. The reason is because many sellers feel that FHA loans come with more conditions to overcome than a conventional buyer.
If you’re a patient person you should consider a short sale where there may be less competition for a nice home.
Low inventory in the area you want? Ask your agent to get in contact with homeowners in your preferred neighborhood whose homes are not listed for sale but may be interested in selling to you now or in the near future.
If you have been directing your attention exclusively to one neighborhood, see if you can expand your housing requirements and search in adjacent areas.
Give some thought to buying your home with a co-borrower such as a family member or a trusted friend who can add to the down payment/financial requirements which will strengthen your offer.
For people who put a higher than average amount into the earnest money deposit, and well before the actual down payment, you are telling the seller that your intentions are serious to consummate your real estate offer. Other competing offers cannot contend with such diligence. Not surprisingly, if you withdrew your offer in the middle or towards the end of the contract date, you’d forfeit this deposit.
When buying a home in the frenzied environment of multiple offers, try to come up with a connection between you and the seller. The seller having owned or lived in the house a long time may have an emotional experience with it, and you might be able to get on the seller’s side by communicating your appreciation for certain aspect of the home.
Demonstrate concern for the seller’s circumstance by being flexible on the possession element after closing. Draft an agreement to offer them a 30-60 day window post-closing to allow them to move by paying rent or no rental payment at all. Maintain an advantageous connection by not asking for personal items in the house.
Sweeten the deal for the seller’s by paying for some of the seller’s costs like settlement, transfer, and title policy fees.
It does help for your agent to have a friendly relationship with the listing agent and understand what the seller’s truly wants to close the deal. Once uncovered, you can then make an effort to meet those goals.

If you are in a neighborhood where almost all properties are receiving offers over asking price and you really want a house, you may want to make your offer $5000 above asking price, remove the appraisal contingency, and close in 30-45 days. This type of offer, if an FHA or low-down conventional, competes better in a multiple-offer environment with buyers who have a large down payment such as 20-30% or an all cash offer. It suddenly becomes appealing.

If you carefully consider and implement these strategies, you will certainly be a leg up on the competition.