Monthly Archives: January 2014

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HUD Best Value properties week of January 23, 2014

HUD Best Value properties are opportunities for buyers looking for deals.

HUD best value properties in California for the week of January 23, 2014. This list represents the absolute best pricing available for both investors and owner occupants for HUD Homes in CA.

Get a deal on HUD owned homes for sale

ALL OFFERS WILL BE CONSIDERED! TAKE ADVANTAGE OF ONE OF THESE HUD HOMES IN CA BEFORE IT’S TOO LATE!

HUD Best Value Homes

We continually release this list on a regular basis in order to move HUD inventory as quickly as possible. Please check back with us weekly if you are looking for the best pricing available on HUD homes in CA. Remember, these homes are available for investors due to the higher Days on market of these properties. Check Hudhomestore.com to determine whether FHA financing is available on the particular homes. You can also see photos of each property as well.

Please call Jesse at 949-306-8416 for more information on these and other exciting HUD owned homes for sale in CA! More details can be found at:

http://www.HUDHOMESTORE.com

Investors! Get a deal on Best Value HUD Properties.

No matter what the offer is, it WILL be considered! Take advantage of one of these deals before it’s too late! 

Check out this list of HUD best value homes California.

 

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Pemco

Santa Ana condo Back on Market! $205,000 2 Bed

Santa Ana Condo back on market at $205,000 2 Bed 1.5 Bath

[embedplusvideo height=”385″ width=”480″ editlink=”http://bit.ly/1ffSBmb” standard=”http://www.youtube.com/v/ooG2tNxCDBk?fs=1&vq=hd720″ vars=”ytid=ooG2tNxCDBk&width=480&height=385&start=&stop=&rs=w&hd=1&autoplay=0&react=1&chapters=&notes=” id=”ep8042″ /]

2Bd/1.5Ba Condo HUD Owned!

$205,000

Year Built
1978
Sq Footage
875 sqft.
Bedrooms
2 Beds
Bathrooms
1.5 Baths
Floors
2
Parking
2 Covered
Laundry
In Unit
HOA/Maint
$280
Virtual Tour
youtu.be/ooG2tNxCDBk
Website
www.JesseMadison.com

Santa Ana condo

DESCRIPTION

Santa Ana Condo listed at $205,000. Quaint Santa Ana condo centrally located in a gated community with 2 parking spaces in covered underground parking area. This home has 2 upstairs bedrooms with full bathroom upstairs and Spacious living room with dining area and kitchen downstairs. Back patio area is very private and it also has inside laundry for added convenience. Half bathroom downstairs with additional storage area under stairs. Close to schools, parks, entertainment, Main Place Shopping mall, Colleges, Major freeways include 5, 55, 22 and 57, Museums, Saint Josephs Hospital, and close to desirable Floral Park Neighborhood. HUD Owned. FHA ok!

For more information on the city of Santa Ana see this link:

http://www.orangecounty.net/cities/santaana.html

Situated in the middle of Orange County along the Santa Ana River, the city of Santa Ana is both the most most populous city and the largest city in Orange County, covering 27.2 square miles. As of 2007, there were 327,780 people living in the city.

Named the county seat in 1889, Santa Ana is also known as thefinancial and governmental center of Orange County. It’s been in recent competition with its fast growing neighbor, the city of Irvine in regards to commercial growth.

Working over the years to revitalize its downtown area, Santa Ana now features The Santa Ana Artist’s Village which was created around Cal State Fullerton’s Grand Central Art Center. The village includes the Bowers Museum, the Old County Courthouse as well as several theaters and art galleries.

The downtown area also contains both retail and housing, as well as the Santa Ana Civic Center and the Ronald Reagan Federal Building and Courthouse. Several historic homes dating from the late 1800s can be found there as well making preservation a central issue as development of the downtown area continues.

 

 

Best value HUD properties week of January 16, 2014

Best value HUD properties are opportunities for buyers looking for deals.

Best Value HUD properties in California for the week of January 16, 2014. This list represents the absolute best pricing available for both investors and owner occupants for HUD Homes in CA.

Get a deal on HUD owned homes for sale

ALL OFFERS WILL BE CONSIDERED! TAKE ADVANTAGE OF ONE OF THESE HUD HOMES IN CA BEFORE IT’S TOO LATE!

HUD best value homes January 2014

We continually release this list on a regular basis in order to move HUD inventory as quickly as possible. Please check back with us weekly if you are looking for the best pricing available on HUD homes in CA. Remember, these homes are available for investors due to the higher Days on market of these properties. Check Hudhomestore.com to determine whether FHA financing is available on the particular homes. You can also see photos of each property as well.

Please call Jesse at 949-306-8416 for more information on these and other exciting HUD owned homes for sale in CA! More details can be found at:

http://www.HUDHOMESTORE.com

Investors! Get a deal on Best Value HUD Properties.

No matter what the offer is, it WILL be considered! Take advantage of one of these deals before it’s too late! 

Check out this list of Best Value HUD homes California.

 

Eqhouseop-copy-1in.jpg

Pemco

Reduced | Rancho Santa Margarita Home 4 Bed SFR at $650,000

Rancho Santa Margarita Home Reduced to $650,000

Tijeras Creek home in RSM Golf Community | Motivated Seller!

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This RSM home at La Tierra Tijeras Creek Golf community offers a spacious 2 level floor plan with 4 Bedrooms, 3 Baths and a terrific cul-de-sac location. Corner lot location offers increased privacy. The soaring ceilings over the living room and dining room give it a warm open feeling. Ceramic tile floors downstairs and wood flooring in kitchen area. The kitchen offers extensive cabinet space and lots of windows for a light and bright atmosphere. A downstairs bedroom offers increased convenience. Large Master bedroom suite, 3 car garage, Located in an Award winning Capistrano Unified school district. Also close to private schools in Rancho Santa Margarita and nearby communities. Low HOA fees and offers full access to 4 local pools and parks, 2 pools which are heated year round. Also included is RSM lake access and beach club access. This area offers top notch restaurants and entertainment venues, shopping and quick access to freeways and toll roads. Numerous Churches and Hiking/biking trails as well as championship golf just around the corner at Tijeras Creek golf course. The home is turnkey and situated in a great family friendly neighborhood. Must See this RSM Home!

You can also learn about the Rancho Santa Margarita Community here:
Schools:

  • Elementary School: Arroyo Vista Elementary
  • Middle School: Arroyo Vista Middle School
  • High School: Tesoro High School
  • Award Winning Capistrano Unified School District

View the Virtual Tour Here: http://www.ubuildtours.com/tour.php?id=DCC9

Tijeras Creek Home

Property Details:

4Bd/3Ba Single Family Rancho Santa Margarita Home

$650,000

Year Built
1992
Sq Footage
2207 sqft.
Bedrooms
4 Beds
Bathrooms
3 Baths
Floors
2
Parking
3 Garage
Laundry
In Unit
Lot Size
4791 Square Feet
HOA/Maint
$55
Virtual Tour
http://www.ubuildtours.com/tour.php?id=DCC9
Website
http://www.JesseMadison.com

 

UNIT FEATURES

  • Living room
  • Dining room
  • Walk-in closet
  • Master bath
  • Family room
  • Stove / Oven
  • Dishwasher
  • Microwave
  • Garbage disposal
  • Yard
  • Fenced yard
  • Central heat
  • Central A/C
  • Air conditioning
  • Ceiling fans
  • Hardwood floor
  • Tile floor
  • Fireplace
  • Jacuzzi / Whirlpool

COMMUNITY FEATURES

  • Shared pool
  • Clubhouse
  • Playground
  • On-street parking
  • Garage – Attached

10 Mistakes Buyers Make When Buying A Home

10 Mistakes Buyers Make When Buying A Home

 

Buying and selling real estate are major events.  When buying a home emotions can run high and it’s important to hire a professional to guide you and point out the pitfalls. These are 10 of the biggest mistakes people make when buying real estate.

Mistakes buyers make when buying a home:

  1. Be  pre-qualified for your loan prior to viewing homes.
  2. Be sure to order the appraisal early.
  3. Be sure to read all disclosures thoroughly
  4. Make sure you read all of the terms of the contract.
  5. Look up the property taxes on a home prior to purchasing.
  6. Run the comps on a home before making an offer.
  7. Make sure you choose the right agent.
  8. Order a home inspection.
  9. Do not forget to conduct a final walk-through.
  10. Request a termite report in your offer.

10 mistakes buyers make when buying a homeThere are many other mistakes buyers can make when buying a home. But these are among the most common and an experienced agent can help guide you through this process and avoid potential pitfalls. Emotions run very high when buying or selling a home.    many buyers work full-time jobs and do not have the time to focus on every detail of their real estate transaction. Real estate professionals are accustomed to dealing with contracts disclosures, contingency timelines, home inspection reports, appraisals, natural hazards on disclosure reports, termite reports, lender pre qualification letters, property taxes and more. We look at these forms every day and we are very familiar with them.  We are better prepared to point out errors or  potential pitfalls a buyer may face.  This is why it is crucial to hire an experienced agent and work with someone who will help you avoid these mistakes. Please watch our video and call Jesse Madison at 949-306-8416 to help you achieve your real estate goals in Orange County, CA.

 

 

New Rules for Qualified Mortgages Arrive

New rules for qualified mortgages took effect last week.

Many lawmakers and mortgage industry leaders are showing concern that these rules could greatly restrict mortgage credit and negatively impact the housing recovery.

New rules for qualified mortgagesThese new rules for qualified mortgages are commonly referred to as QM rules. These are mortgages that meet the ability to repay rule whereas borrowers spend no more than 43% of their income on debt. The purpose is to protect consumers so that they aren’t placed into mortgages they are unable to pay. But the overall effect could reduce access to credit for homebuyers. There will be fewer loan programs available for home buyers.

 QMs cannot have the following loan features:

  • An “interest-only” period, when a consumer pays only the interest without paying down the principal.
  • “Negative amortization,” when the loan principal increases over time, even though the borrower is making payments.
  • Loan terms that are longer than 30 years.
  • “Balloon payments,” which are larger-than-usual payments at the end of the loan term. However, loans with balloon payments are allowed by small creditors in certain circumstances.

The new QM rules will eliminate some forty-year mortgages because they exceed the New QM rulesmaximum loan term for  qualified mortgages. Forty-year mortgages have been useful to many buyers in reducing their monthly payment and in many cases they will no longer be available.

Cap on how much income can go towards debt

QMs will generally require that the borrower’s monthly debt, including the mortgage, isn’t more than 43 percent of the borrower’s monthly pre-tax income. (This limit does not apply to the temporarily authorized QMs, eligible for Fannie Mae, Freddie Mac, or certain government agencies, described above. It also does not apply to QMs made by certain small lenders that hold on to the loans.

No excess upfront points and fees

QMs have limits on the amount of upfront points and fees that the consumer can be charged. The limits will depend upon the size of the loan. Many third-party charges, such as the cost of a credit report, are not included in the limit. QMs also have limits on discount points, which a consumer pays in return for a reduced interest rate.

This new rule stems from the modifications made to regulation Z under the truth in lending act.  The Consumer Financial Protection Bureau recently amended regulation Z.  the changes became effective January 10, 2014.

What to do if your lender doesn’t follow the new rules for qualified mortgages

If you think your lender is not following the Ability-to-Replay/Qualified Mortgage rule, the Consumer Financial Protection Bureau wants to know. You can get in touch with us these ways:

Online: www.consumerfinance.gov/complaint By telephone (in 187 languages):

(855) 411-CFPB (2372) Español (855) 411-CFPB (2372) TTY/TDD (855) 729-CFPB (2372)

8 a.m. to 8 p.m. Eastern, Monday–Friday:

By mail: Consumer Financial Protection Bureau

P.O. Box 4503

Iowa City, Iowa 52244 By fax: (855) 237-2392

 

Read more about what the new ability to repay rule means for consumers here: http://files.consumerfinance.gov/f/201309_cfpb_ability-to-repay-rule_what-it-means-for-consumers.pdf

Best value HUD properties week of January 9, 2014

 Best value HUD properties are opportunities for the savvy investor.

Best Value HUD properties in California for the week of 1/9/14. This list represents the absolute best pricing available for both investors and owner occupants for HUD Homes in CA.

Get a deal on HUD owned homes for sale

ALL OFFERS WILL BE CONSIDERED! TAKE ADVANTAGE OF ONE OF THESE HUD HOMES IN CA BEFORE IT’S TOO LATE!

Best value hud homes

We continually release this list on a regular basis in order to move HUD inventory as quickly as possible. Please check back with us weekly if you are looking for the best pricing available on HUD homes in CA. Remember, these homes are available for investors due to the higher Days on market of these properties. Check Hudhomestore.com to determine whether FHA financing is available on the particular homes. You can also see photos of each property as well.

Please call Jesse at 949-306-8416 for more information on these and other exciting HUD owned homes for sale in CA! More details can be found at:

http://www.HUDHOMESTORE.com

Investors! Get a deal on Best Value HUD Properties.

No matter what the offer is, it WILL be considered! Take advantage of one of these deals before it’s too late! 

Check out this list of Best Value HUD homes California.

 

Eqhouseop-copy-1in.jpg

Pemco

Just Listed! Temecula Pool Home $399,900

Beautiful Temecula pool home just listed at $399,900


Enjoy this beautiful pool home in the heart of Redhawk. This spacious three bedroom plus loft home has a wonderful floor plan with all bedrooms upstairs

Temecula Pool HomeThe home features three separate fireplaces in the living room, family room and Master bedroom suite. The home features ceramic tile flooring throughout the downstairs, the upstairs features laminate wood flooring throughout. Enjoy terrific views from the front balcony with loft access and also out the back from your spacious balcony off the master bedroom suite. The master bathroom also features a large Roman tub and separate shower along with a walk-in closet. The secondary bathroom offers dual sinks and shower and tub. This home is great for entertaining with its formal dining room along with a large family kitchen with center island. Adjacent to the kitchen you will find the family room with cozy fireplace. And just a few steps outside you are greeted by a sparkling pool and spa perfect for those hot summer days. Located close to schools ( Award-winning Great Oak High School) shopping freeways malls, Pechanga Casino, and the new Temecula Valley Hospital. Don’t miss out on this Temecula pool home for sale.

 

  • 3 Beds+ loft, 
  • 2450 SF with 6098 SF Lot.
  • Built in 1994
  • HOA $38/mo.

Temecula Pool Home for saleThe city of Temecula is known for its beauty, the Temecula  wine country, great shopping, and terrific proximity to both San Diego County, Orange County, and Los Angeles County. The area has grown tremendously in recent years and is full of entertainment venues, nightlife, recreational activities,  Championship golf and more. It is truly a wonderful place to raise a family. The Temecula school district has the highest scores in all of Riverside County and boasts many award-winning schools. Take advantage of everything this Temecula pool home has to offer.  For a private showing please contact Jesse Madison at 949-306-8416.

Video: How to Search HUD Homes |Tips & Tricks

How to search HUD homes using www.HUDHomeStore.com.

Watch our video to see  a step-by-step tutorial on how to search HUD homes while using www.HUDHomeStore.com.

First, visit the website and go to the top right corner to register as a public user. This will allow you to save your favorite properties and return to continue your search. It’s like an MLS for HUD properties.

Then, scroll down to the search bar labeled  search properties. Select your state, county, city and proper buyer type to search homes in your area.

Once you have selected a property be sure to check which buyer types are eligible to make bids and also take note of the bidding deadline. The cutoff to submit bids will be at 10:00 PM on the date of the bidding deadline. Below you will see additional property information. For example, bedroom count, square footage, year built, HOA Fees,  and price.

How to Search HUD HomesAlso be sure to view the property information in the addendum’s section. You will be able to click on the property condition report and also repair disclosure form. This form will give you a line by line list of all repairs required in order to obtain FHA financing on the property.

Important: buyers cannot submit offers on HUD owned properties on their own. A buyer must find a broker to submit their offer on any HUD owned home. You can find a broker on the website by clicking on the find a broker tab in the middle of the top bar right from the home page. Only brokers registered with HUD may submit offers for buyers.

If you have additional questions on how to search HUD homes using www.HUDHOMESTORE.com please call 949 – 306 – 8416.  we hope that this step-by-step video on how to search had homes will help you get started. Jesse Madison is a local listing broker  in Orange County, California. We would love to help you find your next home.HUD website tutorial