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Diane Gross, DRE Lic. #01217299
Realtor/Interior Designer
    Years of Experience: 18

    Re/Max Hall of Fame Award Recipient

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Newport Beach, CA

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The Right Time to Sell

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Orange County CA Market Changing! ?

Tuesday, May 22nd, 2012
Finally a recognizable and ongoing change in the Orange County, CA housing market!
I hate to feel like, when I give you information about the market that it feels like I’m pushing you into making a decision to buy a home sooner than you’re ready, but I also feel I should keep you informed on what I’m seeing and hearing about the Orange County, CA housing market.  Ultimately, it’s your choice when you’re ready to buy.
 
I’m hearing that because the stock market appears to be performing better that interest rates might go up.  Historically, as long as I’ve been watching (about 20 years), rates tend to be higher around June 8 and Dec 8, and lower closer to April 8 and October 8.  My concern, given how low they’ve been for so long, is that they’ll go up, and maybe not come back down as low as they are right now.  Though, given it’s an election year, I can’t imagine any political party wanting higher interest rates; but, then again, it might show strength in the economy and give the Democrats a boost.  Obviously, I have no crystal ball, but it does concern me.
 
I recognize that many buyers are still hoping to purchase a short-sale enabling a purchase at a more affordable price in any one particular area of choice.  Just so you are aware, there are fewer and fewer short-sales, and since the standard sales are beginning to push prices up, short-sale prices will follow the upward trend.  I saw numerous short-sales that closed only a few months ago priced at $579k that are currently selling for as much as $100,000 higher and there are 6 families waiting at the door to see the home.  SOUND FAMILIAR?
 
When I moved here in ’95 and got my license in CA in ’96 there were no short-sales left.  Coming from Kansas, I didn’t even know what a short-sale was…  And, that downturn started in ’91.  This one has already been 6 years old.  I’m not claiming to know what will happen, just historical facts that it might be helpful for you to be aware of. You might wonder if this is another politically motivated false start; however, unlike previously, the Government has not put out any particular incentives to get the Orange County, CA market moving again.
 
A month or two ago, Aliso Viejo was lagging behind other OC communities.  This past weekend showed me that it is definitely catching up!  No longer are there 50% gains to be had off of the highest priced sales from ’06.  When sending information yesterday to one of my buyers, I was seeing less than a gain of $200k on homes currently priced in the $600k range.  Even still, should a buyer make $200,000 it’s no slouch!!  Buyers — better in your pocket than the sellers!!  Sellers — your time is coming!!
So, if you’ve been waiting on the fence for a sign… this may well be it!  If you’d like to discuss this further or to begin your home search, call me at 949-929-6343.  You can also visit my website by clicking here.
As always, I’d love your comments, and be sure to sign up below to begin to receive notices of future Blog entries.

 

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Posted in Buy a House, Community, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, MLS, Mortgages, Neighborhood, Real Estate, Real Estate Agent, The Right Time to Buy, The Right Time to Sell | No Comments »

Attn: Buyers and Sellers in Orange County, CA

Wednesday, January 18th, 2012

Is it too soon to evaluate the 2012 housing market?  How about the economy?  Signs are pointing to … up.  WAIT!  Don’t stop reading just because you don’t agree!  Did I mention?  After the holidays, keyword after, the movie lines were all the way across the parking lot.  The wait to be seated at CPK for dinner was 20 minutes and that was before 6 pm!

I believe there is a willingness for people to go back out and spend again.  They got a taste of it during the holidays and it didn’t stop afterward.  Yes, some businesses are laying off … many are hiring.  And, several are hiring in large numbers.  Don’t get me wrong.  It’s definitely still a mixed bag – 2 steps forward 1 step back. but that’s better than the other way around.

What does this have to do with the housing market?  Lots.  Unfortunately, for the consumer, what is one’s politics determines how one feels about the economy.  Also, it determines one’s outlook on life.

I’ve said it before and I’m sure I’ll say it again – you must be in the middle of it to know exactly what is going on.  This is the time of year in the normal ebbs and flows where real estate begins to pick up.  If my readers/clients insist on reading other people’s projections, make certain who you are listening to and that they are not just saying what you want to hear because they’re matching your own belief system.  In other words — know your source!  Is the writer really in the field and literally out there working with Buyer’s and Seller’s all over Orange County, California?   The fact is, what I’m saying won’t be the case everywhere; and this is why you need your Realtor; but, here goes:

This is what I’m already seeing this year:

  • Inventory is down.  Check!
  • Buyers are out there.  Check!
  • Interest rates are low.  Check!
  • Pricing is down.  Check!
  • Multiple offers abound.  Check!
  • People are tired of waiting.  Check!

Sounds to me like a comeback…

If you agree; and you’re ready to begin working toward either a sale or a purchase of Real Estate, visit my website by clicking here!

As always, I’d love your feedback; and, to receive notice of my future postings, sign up below.

 

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Posted in Builders, Buy a House, Community, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, Neighborhood, Property Investment, Real Estate, Relocation, Selling a Short Sale, The Right Time to Sell | 1 Comment »

Orange County, CA Housing Market

Tuesday, November 29th, 2011

I Want to Give You Helpful Information…

Why don’t you take me up on it?

I’ve just reviewed my Google Analytics Report to see what type of information I provide is reaching the majority of my readers.  There were two articles I wrote that received the most attention from you:

1)  SB458 Didn’t work the way it was intended, and

2) You can still buy a condo with only 5% down.

As a Realtor, I perceived all of my other topics to be extremely helpful information to both buyers and sellers alike; and, according to the comments received, they were found to be well written and good information.  However, for whatever reason, they are not causing you to spend a lot of time on my site when compared to those two topics above.  Does this indicate that the majority of the information I provide is not useful to you?

Next month, I complete 20 years of working as a Realtor.  Having been in the industry all that time, I should have the ability to communicate to you just about anything you would want to know about Real Estate.  And, what I don’t know, I can find out for you.  The time I spend writing my Blog is significant and it should count for something.  I’d certainly like to have an open dialogue about my topics, and want to hear from you about what information you would be most interested.

So that you can track how successful this request is in receiving my reader’s suggestions, or to get an answer to your own burning question(s), sign up below to receive an automatic notice of new Blog entries.

 

If you’re interested in allowing me to assist you with your Real Estate needs, don’t hesitate to contact me at 949-929-6343 or, click here to see how I work.

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Posted in Being Foreclosed On, Buy a House, Community, Condos, First Time Home Buyers, Foreclosures, Homes for Sale, Housing Market, Luxury Homes, Neighborhood, Preparing the Home to Sell, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Selling a Short Sale, The Right Time to Sell, Townhomes | 1 Comment »

Orange County California Real Estate

Monday, November 21st, 2011

Are you as confused about the current housing market in Orange County, California as I am?  You should be because I’m confused and I should know more about what’s going on than you do!

Here’s a bit about why I’m confused.  I’m fairly up about what seems to be happening, or about to happen, but I’m always a bit more optimistic than most.  I come by this naturally because even though I’ve been in Real Estate since 1992, this is the first down market I’ve been involved in as a Realtor.  Because I know this about myself, I’m always checking myself by asking servers in restaurants I frequent how their business has been.  They’re still disappointed but I’m seeing the bars at say, Islands full instead of being the only one there.  I’m also aware that openings for employment positions are on the rise.  I try not to listen to national news because it’s usually not pertinent to our market and it’s always a downer, whether accurate or not.  I keep track of the inventory as reported in our weekly office meetings and I see inventory dropping; and, I listen to how other Realtors are conversing, and I make a determination by how busy they are and I am.  I’m hearing and seeing that loans are getting a bit easier to come by.  There are again a lot more options than just the 20% down slam dunk loan.  So, even the Banks are becoming a bit more aggresive.

Believe it or not, since May, I’ve averaged twice as many transactions per month as typical, but my income matches years’ passed.  That’s the cunundrum!  Business is up, interest is down, sales are up but prices are still dropping and interest remains among the lowest in history.  Typically, when this happens in our area, prices begin to jump up and they’re still falling … even with multiple offers.

I’ve also attempted to evaluate the type of buyers that are out there.  There are beginning to be a lot more first time buyers; but it’s difficult for them to compete with the investor/cash buyers, and it’s this type of buyer that is waiting to jump until the prices become low enough for them to see a property as an investment.  Also, we’ve gotten far enough removed from when many first started short-selling for those previous owners to be back in the market.  An even more interesting factor is I have more listings than usual demonstrating that Sellers are again willing to test the market.

At this point, given all of the above, I’ve got to say that the market in Orange County, CA is coming back…  What do you think?  Be sure to send your comments.  I’d love to hear from you. 

To contact me or to learn more about how I work, visit my website by clicking here.

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Posted in Buy a House, Community, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Property, Property Investment, Relocation, The Right Time to Sell | 1 Comment »

Were We Duped? !

Friday, September 30th, 2011

Hello All,

You probably noticed I haven’t written in a while.  That’s because my mind is in turmoil about the market and how the government used all of us.  There’s a reason that none of us can figure out the housing market… that being whether it’s getting better or not?

All of you need to watch an HBO movie special:  Too Big To Fail.  Besides being an excellent movie with wonderful actors, it’s very informative.  You may think you know all there is to know about what we’ve just lived through; but, trust me, you don’t.  After watching this movie, you’ll most certainly be better informed.

In the movie, Paulson (William Hurt) states that he has a torpedo in his pocket and he, and I think it was Bernanke (Paul Giamatte) or Geithner (Billy Crudup), said he was going to have to use it.  I believe that the torpedo was the period of time when the government was giving the buyers’ incentives of up to $8,000 when purchasing a new home.  You might remember that during that time, it appeared that the market was back!  The extra incentive stimulated the market, but as soon as the money ran out, so did the market; and, it hasn’t really come back since then.  I’m certain that Buyers were thinking the extra money would magically reappear once the government recognized that it was still needed and because it seemingly worked so well… but to no avail.

So, over an $8,000 gimme, the Buyers all went back into hibernation… hoping that the government would see the market die down again, and come back to the rescue.  Instead, the money went to the banks, litterally in hopes that the banks would lend that money to buyers supposedly making it easier to get loans, since, at the time; and still today, it was meant to loosen up the bank’s hold on their dollars.  But, unfortunately, also to no avail, as the government had not put the stipulation in writing that in order for the banks to get the money, they had to agree to lend it.

At the time that the torpedo was released, unbeknown to the general public and Realtors in particular, I, as well as many others, believed at the time that the market was already coming back.  SURPRISE!!  Finally, for me at least, last Thursday, (eight days ago) after Bernanke performed his latest trick, the housing market DID pick up for me.  The market actually felt like days gone by, and so far, it’s sticking.  Maybe that trick worked?  Or, maybe it’s just another torpedo ? !

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As always, I’m looking for your comments to this blog. To see more about how I work, be sure to look me up on my website by clicking here.

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Posted in Buy a House, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Property Investment, Real Estate, Real Estate Agent, The Right Time to Sell | No Comments »

A Thank You and a Warning to Home Owners

Monday, July 11th, 2011

I cannot thank my readers enough for all the wonderful comments I’ve been receiving.  They do not go on deaf ears!  I’m thankful that I could be of help to you!!

To show my appreciation and just to simply inform:

Lately, I’ve been hearing from my clients that their loans that are recasting have not been done correctly.  If you have the type of loan that recasts, be sure to review your note, or have someone else that you trust review it, and make certain that your new payment has been calculated properly; and most importantly, that it is really time for your loan to recast!

One of my clients had a loan that was not to recast until year 10 or until they owed 125% of the original loan amount.  They currently owe about 107% of their loan amount and it is currently only the 5th year.  Imagine how surprised they were when their payment incurred a significant increase and they were lucky… they knew it wasn’t correct.  They still had to pay the new figure or it would have gone against their credit; and it took a LOT of effort talking to their Realtor, Financial Advisor, previous lender, and numerous calls to the bank to get it reversed.  They were finally successful; but it wasn’t pretty!

I simply DO NOT want some of you unsuspecting, wonderful people out there to have the same thing happen to you and have it go unnoticed.  You could be over paying on your loan by over a thousand dollars monthly.

As far as the current market is going in Irvine and Orange County, CA as a whole–it seems fairly status quo when compared to the last quarter of 2010.  I have noticed properties over a million dollars are creating more interest.  There have been lots of sales since March in the Northwood VI (Pointe) tract.  In general, for me, since May I’m having one of the busiest summers ever with both listings and buyers.

Again, in the Orange County, CA area; REO (foreclosed properties) listings are down.  The banks ARE becoming more cooperative on modification work outs and especially have become more streamlined when handling short sales.  I never thought you’d find me saying this; but, Thanks Bank of America and Wells Fargo for using Equator!

For those of you investors out there; take note!  What I’m noticing is the younger families/first time home buyers are leasing for shorter terms hoping to save enough to buy.  What’s better?  Do you take them because they have better FICO scores; or the sophisticated homeowner who’s FICO scores are destroyed, but will live in the home longer while repairing their credit?

I would love to hear from you as to what you’re seeing out there, how I can assist you with your current loan issues, or to discuss whether this is the right time for you to modify or sell your home or become landlords…

To sign up to receive notice of my next post be sure to fill out the form below:

 

Hopefully we can get a discussion going on what you believe the current housing market to be in Irvine and Orange County, CA.  To learn more about how I work click here.

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Posted in Buy a House, Community, First Time Home Buyers, Foreclosures, Homes, Housing Market, Mortgages, Neighborhood, Property, Property Investment, Questions and Answers, The Right Time to Sell | 15 Comments »

A Realtor with Heart — Part 2

Tuesday, June 14th, 2011

PART 2

It literally pains me to be working under these current economic circumstances.  I went into this business to help others personally when purchasing their most important investment in their lifetime.  As many of my clients will probably admit, that comes with a lot of personal and familial counseling.  To top this off, as my Business Slogan says:  to “Build Your Wealth Through Real Estate.” wherein many would become financially independent.  For the first time in my Real Estate career, many clients are not financially better off than they were when they bought their home. 

Often, my Title Rep will come by and ask me how I’m doing.  My willingness to share more than most, I told her that it was not a good day.  I had just received a phone call from another of my clients telling me that they thought they were not going to be able to keep their home.  My Title Rep reminded me that my clients need me to help them for this too; not only do I recognize this, I’m completely capable of doing so.  I simply wish it were not to assist them in this way. 

I NEVER looked at Real Estate as a Job.  It was a joy!  I knew I was improving my clients’ situations and that’s what I wanted from my life’s work.

When I first moved to California in the mid-90′s, I assisted a top realtor in Irvine, CA while getting my California license.  I didn’t understand the depression all around me because I came from a market that was thriving.  Now I get it, but I wish I didn’t!

There was one bright light about that time period in the mid-90′s.  It’s because the prices had decreased that my family and I were able to move from the mid-west and afford to purchase a home in Irvine, CA.  Just like 15 years ago; today, lots of people who otherwise would not have been able to buy a home in Orange County, California can buy something.  I have faith that those who have been pushed out of their homes will be able to, and will want to, buy again.  In the meantime, I’m here to help you make your way through it… whatever direction that might be!

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As always, I’d love to hear your comments and questions!  Should you require assistance in these tough times with the disposition of your home, or you’re not sure which direction to turn, click here to schedule a phone conference or evaluation session.

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Posted in Community, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, Preparing the Home to Sell, Real Estate, Real Estate Agent, The Right Time to Sell | 2 Comments »

A Realtor with Heart — Part 1

Friday, June 10th, 2011

PART 1

You may be wondering how Realtors can “live with themselves” after having helped people into homes “they could not afford.”  Along with some personal thoughts that follow in Part 2 of “A Realtor with Heart,” below is a portion of a letter I forwarded to my client base and I thought it would give you some insight.

“I’ve enjoyed working with you throughout the years in Real Estate; and, as I’ve always indicated:  I want to be your Realtor for Life.  Unfortunately, when we have a life-long relationship; it’s not always going to be about happy times.  Because of the prolonged economic downturn, I’m finding that as much as I advised you to try, at all costs, to hold onto your homes; I’m really sad to tell you now that my experience has been that many cannot; or maybe, should not continue to try to make things work with their current homes.  If you or someone you know is finding it more and more difficult to make your mortgage payment(s); please be sure to contact me as soon as you recognize you have a problem.  I am here to advise you! 

Many who call themselves short-sale specialist are just looking to add your listing to their hundred’s of others and you will not be a priority to them.  Don’t think because I choose not to market myself in that way, that I cannot assist you by facilitating whatever steps your particular situation warrants … I CAN.
 
I would be happy to sit down with you to discuss the different options that are available to you, allowing for the best outcome; and possibly avoid a short-sale or foreclosure; preserve your credit; or, at the very least prepare you to rebuild your credit for a future purchase.  If you’ve already gone through the steps of a short-sale or foreclosure, I have an information sheet that will give you some sense of how long it will take for you to be able to buy your next property.  Just reply to this email and I will forward it to you. 
 
Di”

If you appreciate and want to work with Di, be sure to click here for her website where you can also find numerous property listings.

To receive notice of the publication of “A Realtor with Heart,” PART 2, sign up below.

 

As always, I look for your comments and questions!  Thanks to those of you who have left comments.  They’re much appreciated!!

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Posted in Foreclosures, Homes, Homes for Sale, Housing Market, Preparing the Home to Sell, Questions and Answers, Real Estate, Real Estate Agent, The Right Time to Sell | 18 Comments »

Can you Trust any Realtor? — Even me!

Wednesday, March 2nd, 2011

Is the Farmer in the Area the Right Realtor for you?

Most of you probably have at least one if not three or more Realtors that ‘farm’ your area.  This means that they work almost exclusively in your area, and they tout themselves as the area expert.  They’re the ones that have gotten the most listings in your area.  They might not even care whether they have you as they’re buying client as listings are all they really want.  Even their manager has told them listings are where the money is.  I’ve often wondered if that isn’t just because it gets the name of the brokerage ‘out there?’

The truth is I’d like Sellers to reconsider who they’re hiring to sell their home.  Think about it.  If the area farmer is selling a lot of homes in your area, are they just trying to show they’ve gotten another notch in their belt to stay popular in the neighborhood; and, is this in lieu of doing their utmost to sell your home for the highest price possible?  It probably goes without saying, selling a home slightly under the market moves your home more quickly…

You’re probably rationalizing:  ‘I’m moving on, so really, what do I care what happens to this old neighborhood?’  Have you considered that it’s happening in your new neighborhood too?  And, someone’s there pushing your values downward to show they’re listing more homes in that area, too.  So, I pose these questions.

  1.  What is the effect of this on pricing in your neighborhood? 
  2. Why is it really that some areas go up while others stay stagnant?

I want to know:  What is it that you’re looking for in your Realtor?  Do you want someone who’s down on the market if you are?  Or, someone that’s up because that’s just their personality?  Or, are you looking for someone that’s up on the market’s pulse and shares that with you, even if you don’t see it that way; or, one that would just go along with what you want to hear?  I’m not trying to morph into what you want in a Realtor, but just like you’re trying to learn more about today’s market, I’m trying to learn about what you’re looking for in a Realtor so I can be the best Realtor for you.  All I can say is:  I make every attempt to tell you the truth about what I see and what I have to offer is timely information and oodles of experience!  I must admit, I can see why Buyers and Sellers lack trust in Realtors; but, I like to work with clients that choose to work with me for a lifetime.

Di wants to hear from you! Let her know your opinion about this series and answer the questions she has posed above by calling 949-929-6343 or emailing:  diane.gross2@gmail.com. To see how Di works, click here to go to her main website.

To receive email notices for the next and last installment in this series:  “Choosing the Right Realtor for You,” sign up below:

 

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Posted in Community, Homes, Homes for Sale, Housing Market, Neighborhood, Preparing the Home to Sell, Property, Real Estate, Real Estate Agent, The Right Time to Sell | 3 Comments »

Can You Trust Any Realtor? – Even Me!

Monday, February 28th, 2011

Boy, I hope so; but… Part IV  

Sign Here — More Realtor Tactics: 

As soon as you became a homeowner, I’ll bet you were contacted by a Realtor either knocking on your door or sending you a letter, telling you they have a buyer for your home?  I’ll bet most of you have experienced this; so, how do you differentiate fact from fiction?  Using a Realtor that comes highly recommended might be one way, but I’m certain you don’t want to take a chance on losing that ‘potential’ buyer, right?  It wouldn’t take but a few minutes for your trusted Realtor to look into the opportunity that has been presented to you and figure out if the Realtor truly has a ‘ready, willing and able Buyer.’

Sometimes, a Realtor will even bring someone into your home and say they’re a buyer just to get their foot into the door, and to try to show you how hard they will work for you, just to get your listing.  Don’t get me wrong, sometimes when Realtors say they have a valid Buyer they really do.  It is important for you to know this.  The reason it’s so easy to pull the wool over your eyes is the Realtor can bring anyone in and just say ‘the home is not for them.’  Now, it may be a real Buyer and the home may really not be for them; so how can you recognize the difference? There may be some things to look for:  

  1.  When the Realtor first contacts you, can they describe the Buyer?  In other words, is it a family or a single individual, why they’re moving here, where they’re moving from and probably most important, why the Realtor believes your home to be the right home for that Buyer. 
  2. How did the Realtor come to know about this Buyer?  Are they a past client looking to buy up or down? 
  3. Maybe ask where the Buyer lives now? 
  4. What other homes have you been showing the Buyer?  Anything that you can think of that will assist you in determining if there really is a ‘ready, willing and able Buyer.’
  5. Your last, and most important option is to contact your Trusted Realtor and have them represent you.  Go ahead and give them the listing.  They can then contact the other Realtor and let them know they’re welcome to show your home.

Di would love to hear from you regarding your opinion on this topic and any other.  To see how she works, click here to go to her main website.  She welcomes your questions and can be reached by phone at 949-929-6343 or email:  diane.gross2@gmail.com.

Sign up below for an email notice for the next postings: “Is the Farmer in the Area the Right Realtor for you?” and then:  “Choosing the Right Realtor for you.”

 

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Posted in Homes for Sale, Housing Market, Preparing the Home to Sell, Real Estate, Real Estate Agent, Relocation, The Right Time to Sell | 2 Comments »

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