-- Ladera Ranch, Talega, San Juan Capistrano, San Clemente, Laguna Niguel These are relevant keywords pertaining to the subject and to the company: california coastal property california coastal properties california coastal real estate california vacation rentals california coastal property management california coastal rentals, california coastal property california coastal foreclosures california homes for sale homes for sale orange county homes for sale san clemente house for sale real estate agents california mls realty realestate ocean view beach bank owned REO shortsell short sell shortsale short sale foreclosure investment sales Multiple listing Holiday rentals Beach rentals Ocean rentals ----------------------------------------------------------------------------- Foreclosure 'Bargains' - Devil Is In the Details* -- Chuck Maretzky III --California Coastal Properties ----------------------------------------------------------------------------- "Buying foreclosed properties isn't a game for beginners," writesBroderick Perkinsat ConsumerAffairs.com. "Buying a foreclosure can save you tens of thousands of dollars if you're buying a home or investing in real estate, but if you don't know what you are doing, the ordeal can cost you more than you'll save." Foreclosure experts say there's so much potential risk for consumers, choosing alternative methods to make a buck in real estate could be better deals. The American Homeowners Foundation (AHA) says with more and more homes facing foreclosure, more and more home buyers are taking a hard look at foreclosures, with some of them being led by the nose to the "deals." RealtyTrac, an online foreclosure marketplace, said November's 259,085 foreclosure filings default notices, auction sale notices and bank repossessions — 147,708 foreclosure filings — were up 28 percent from November 2007. One in every 488 U.S. housing units received a foreclosure filing in November, RealtyTrac reported. "Whenever the real estate market shifts, there's always this tendency to say, 'Hey. It's a good time to buy,' perhaps to cash in on those who maybe didn't understand what that really means," says Newport Beach, CA-based consultant Danielle Babb who, along with Corona, CA-based mortgage banker and investor William Nazur, is co-author of "Finding Foreclosures: An Insider's Guide to Cashing in on This Hidden Market" (Entrepreneur Pr, $21.95). Not for beginners Cashing in, however, requires time — lots of it. AHA president Bruce Hahn says the foreclosure market is dominated by real estate professionals who specialize in the market because it's a full time job, not an on-the-job-training opportunity. Even as for-sale-by-owner sellers have to get up to the speed and agility of a real estate agent in the time it takes them to sell their home, foreclosure buyers have even less time to seal a deal with professional aplomb. "Buying a home at a foreclosure sale requires a lot of work and due diligence and is fraught with risks. You can end up spending a lot of time and money doing your homework, only to learn at the last minute the auction was canceled because the borrower filed for bankruptcy protection (which temporarily suspends the auction). Even if the sale proceeds, you may not be the successful bidder," Hahn says. Hahn says you should not initially venture into foreclosures without competent assistance, a real estate attorney, investor or other professional familiar with local laws. In California, for example, the "Home Equity Sales Contract Act" is designed to protect foreclosure suffering home owners from fraud. The law, with special contracting, disclosure and procedural requirements, makes the already legally entwined normal home buying transaction even more daunting. "I find that most salespeople who have not experienced a market with a lot of foreclosure activity have no idea that this code exists, the required forms for equity purchases and the potential penalties that may be imposed for violation," says Linda Kaneko, vice-president of Paul Law Realty/GMAC in Grass Valley, CA. Connections required Perkins: "In addition to related legal savvy, your foreclosure point person should also be endowed with ample connections to other savvy professionals you may also need on the way, among them, perhaps, a home inspector, appraiser and real estate agent." Given the many unknowns associated with buying foreclosures, you also must have the right financial stuff to give you a tolerance for risk. Babb says foreclosure buyers need cash flow, without the restraint of high credit card and revolving debt balances. Any current property they hold should have ample equity to tap. "They should be able to afford to take a little risk and they should be considering this an investment; perhaps diverting some of their investment dollars to this endeavor as a replacement for others," says Babb. After the necessary prerequisites, buying foreclosures becomes a game of timing. When you buy is as important as what you buy. Preforeclosure The period after a homeowner goes into default (misses one payment or more) and the lender files a public default notice to that affect (Notice of Default or Lis Pendens), is the period when the foreclosure process begins. You can find the notices in your local public records office or, for a fee, get them, with varying levels of detail, from on- and offline firms that track the data. This is one of the best times to buy foreclosure properties, experts say, because you'll have more time to get a comparable market analysis, research the title and have the home inspected. It's also a time when the seller may be most accommodating, especially if he or she can walk away with something to show for any equity and if he or she can avoid further ruining his or her credit standing, says Babb. During preforeclosure, the home likely isn't up for sale, so you'll avoid competition that comes with listed homes. That means, relatively speaking, there's a greater chance you can offer a price that's less than market value but more than the amount owed the bank. Hahn suggests, whenever possible, selecting homes with substantial equity. That's often evidenced by the owners' tenure. "The longer someone has lived in a home, the more equity will be built in, even if they made interest-only payments," Hahn said. Auction The next phrase, the lender's auction, can represent a potential for the highest return, but, wouldn't you know it, it could also represent a potential for the greatest risk. "We don't recommend waiting until the auction. Usually bigger investors or institutions will buy these homes and the equity position is lower," says Babb. Foreclosure auctions vary from state to state and may be held on the courthouse steps, in a county office or at the foreclosed home. Unless you met the home in its preforeclosure stage or pre-auction events gave you time, you may not be able to inspect it, you may not have time to run comparables or do a title search, but you'll have to pay in cash, usually with a cashier's check. Auctions typically attract hard core investors looking to flip the property (sell within a short period for a profit) and others who've been around the foreclosure block a few times. If you buy and things get nasty, you may have to evict residents reluctant to leave their lost home. That gives them plenty of time to trash the place or otherwise strip it for their own financial gain. "Even if the foreclosed-upon family took care of the property, which is unlikely; the property probably has not been lived in for some time," said Dane Hahn (no relation to Bruce) with Keller Williams Coastal in New Hampshire. "Expect the (homes) to be really dirty, maybe without appliances (even without toilets and sinks), probably without acceptable carpets, and in Northern states, showing the damages of ice and water. It's very easy to get swept-up in the potential future profits of a flip and to ignore the out-of-pocket expenses required to make the property whole," Dane Hahn added. Real Estate Owned (REO) Banks repossess homes that aren't auctioned off, say if the highest auction offer is less than the homeowner owes the lender. Banks aren't in the business of holding and selling homes, but don't expect to land an REO for a song. "Often, banks are trying to get top dollar based on what was owed, not what's based on a fair appraisal that takes condition and location into account," said Dane Hahn. At least there's time to arrange for an inspection and a title search, removing some of the risk from the cost. Babb says no matter what strategy you take, there's an inherent risk in the current market that property values will decline. "It is possible that you could be in an upside down position even on a foreclosure, which is why doing real comparative analyses and knowing your equity position up front is absolutely crucial in this market. Remember that excessive foreclosures in an area can reduce property values, so it doesn't hurt to also check and make sure that a lot of the neighbors aren't in notice of default status, Babb said. Exit Strategy Then there's the exit strategy, which you'll have to consider at the onset of your decision to buy a foreclosure. Why are you buying the foreclosed property? As your primary residence? To flip? As a rental? "You basically have to know a little bit about every aspect of investing to include, contracts, financing, negotiating, acquiring, rehabbing and distributing these properties," said Richard James, owner/investor of New Home Investment Group in Lorton, VA. James is fond of multi-family housing investments that come with cash-flow from rental income. Distribution is the key in any real estate investment. You must have a good exit strategy. In the meantime, you must be prepared for some holding costs. It's a lot to juggle for a seasoned investor. A novice would really be gambling. Foreclosures aren't for the novice, and this underscores why CCP is YOUR preeminent expert source of properties and guidance if you wish to explore the profound opportunities that now abound within SoCal's coastal communities. Call us today and request our FREE REPORT:New Opportunities in Coastal Foreclosure and REO Real Estate. We look forward to being YOUR expert and we are ready, at your service! ---------------- *Source: ConsumerAffairs.com | December 14, 2008 ---------------- We also serviceAliso Viejo, Capistrano Beach, Corona Del Mar, Dana Point, Irvine, Ladera Ranch,Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, Mission Viejo, Newport Beach,Oceanside, Rancho Santa Margarita, San Juan Capistrano  Categories: Real Estate | Property Management | Real Estate Agents | Vacation Rentals Tags: real, estate, sanclemente, california, coastal, property, properties, vacation, rentals, management ...read more

Dana Point & San Clemente, Orange County, CA.: Clearly the value and opportunity is now so profound as to defy imagination. If you wish to explore some of the REO property and foreclosure real estate investment and speculation possibilities there has never been a more profound time in the last 50 years. California Coastal Properties possesses the inside track for the best values in bank-owned, pre-foreclosure and foreclosure real estate in South Orange County, including Dana Point, San Clemente, San Juan Capistrano, Capistrano Beach, Laguna Beach, Oceanside and other select coastal and beach communities in Orange and San Diego Counties. t's absolutely possible to get a spectacular deal on a foreclosure property in both San Diego and Orange County. A high percentage of the homes for sale are listed as real estate owned, bank owned or short sale properties. Since home buyers are now dealing with the banks, it's all about the numbers which is better than dealing with a home seller that has an emotional attachment to the home. There are a few things to remember that will help you along the process if you decide to make an offer to purchase a foreclosure in San Diego and Orange County coastal areas: 1. Be Patient!- Banks are overwhelmed with home listing inventory. They are used to doing loans and haven't had departments to deal with all this new inventory so response time can be weeks or months. 2. Be Reasonable!- When banks list properties for sale, they set the list price below any other home in the area, if you make an offer unrealistically lower, they will not even respond to your offer. 3. Be Ready!- Although they take their time to respond, when an agreement to purchase has been agreed upon, the bank is going to want to close escrow a fast as possible. Make sure you have you have a team of service providers that will work fast and efficient for you. Negotiate The Best Deal We are experienced in helping home buyers and investors in purchasing bank foreclosures and short sale properties at a tremendous discount. Put our knowledge to work, we're here for you and will walk you through the process of purchasing a bank owned foreclosure home and help you find the best service providers, lenders and most importantly, get you the best deal possible. Request our complimentary report and free weekly analysis: New Opportunities in Coastal Foreclosure and REO Real Estate. Find out why our firm holds the advantage for YOU! -- Chuck Maretzky III |California Coastal REO  ---------- Home values seen losing over $2 trillion during 2008 Mon Dec 15, 2008 NEW YORK (Reuters) - Homes in the United States have lost trillions of dollars in value during 2008, with nearly 11.7 million American households now owing more on their mortgage than their homes are worth, real estate website Zillow.com said on Monday. U.S. homes are set to lose well over $2 trillion in value during 2008, according to an analysis of recent Zillow Real Estate Market Reports. Home values declined 8.4 percent year-over-year during the first three quarters of this year, compared to the same period in 2007, the reports showed. U.S. home values lost $1.9 trillion from the first of the year through the end of the third quarter, and will probably fall further in the fourth quarter. One in seven of all homeowners, or 14.3 percent, were "underwater" by the end of the third quarter, the reports showed. CONTINUE READING ONLINE ...read more

Orange County Beach Cities -As the market bottoms out it becomes a buyer’s market such as never seen before! California Coastal Properties is the recognized expert in Southern California, coastal and beach , ROE bank-owned, short-sales, and foreclosure real estate. Get our free report and weekly analysis of the once in a lifetime range of real estate investment and purchase opportunities and discover why California Coastal Properties is so highly rated by its clients and peers.  -- Chuck Maretzky III |California Coastal Properties   -- Orange County | San Diego County    ----- Foreclosures soar 76% to record 1.35 million Foreclosure rate hits nearly 3% in the third quarter, while another 7% of borrowers fell behind on their mortgages. ByTami Luhby, CNNMoney.com senior writer Last Updated: December 5, 2008: 3:00 PM ET NEW YORK (CNNMoney.com) -- A record 1.35 million homes were in foreclosure in the third quarter, driving the foreclosure rate up to 2.97%, the Mortgage Bankers Association said Friday. That's a 76% increase from a year ago, according to the group's National Delinquency Survey. At the same time, the number of homeowners falling behind on their mortgages rose to a record 6.99%, up from 5.59% a year ago, the association said. This means that one in 10 borrowers in America are either delinquent or in foreclosure. Many of those troubled borrowers are in California and Florida, which have among the highest delinquency rates in the nation. The weakened economy and mounting job losses are expected to push these numbers even higher. And that will likely affect homeowners with prime, fixed-rate mortgages, which make up the vast majority of loans and have so far held up fairly well. Until now, much of the housing market's problems were concentrated in the subprime, adjustable-rate market, where homeowners with weak financial backgrounds got loans they ultimately couldn't afford. "We have not gone into past recessions with the housing market as weak as it is now, so it is likely that a much higher percentage of delinquencies caused by job losses will go to foreclosure than we have seen in the past," said Jay Brinkmann, MBA's chief economist. Unemployment soared to 6.7% as payrolls shrunk 533,000 in November, the Bureau of Labor Statistics said Friday. It was the largest monthly job loss in 34 years, and brought the year's total job losses to 1.9 million. The number of homes going into foreclosure in 2008 is on track to hit 2.2 million, Brinkmann said. Modification efforts evident The percentage of homes starting the foreclosure process in the third quarter actually inched down to 1.07% from 1.08% a year ago. But that's due at least in part to the fact that some states have instituted foreclosure moratoriums in order to give troubled borrowers a chance to get their loans modified. But the moratoriums may just delay the inevitable for many, and could push up the foreclosure rate even more in coming quarters. For instance, Massachusetts, which instituted such a moratorium earlier this year, saw a large drop in foreclosures during its moratorium and then a big increase the following quarter, Brinkmann said. Asked how recent government and servicer efforts to modify loans would affect the foreclosure rate in coming quarters, Brinkmann said it depends on how many of those borrowers are interested in workouts. Some reports say that 40% of homes with delinquent mortgages are already vacant. At the same time, the foreclosure moratoriums and foreclosure prevention efforts have pushed up the number of loans that are 90 days or more late to its highest level ever. But this might not be as dire as it sounds, Brinkmann said. Many of the one million homeowners who fall into this category may never go into foreclosure if a more affordable mortgage can be arranged. Another hint of good news in Friday's report is that the number of borrowers one month behind in payments remained fairly steady at 3.39%. This remains below levels seen during the last recession in 2001, Brinkmann said. As for 2009, it all depends on whether the economy recovers, he said. "Absent a recession, the 2009 number would likely have fallen by several hundred thousand, but the effects of job losses and general economic deterioration make the 2009 outlook worse, particularly if mortgage problems become more widespread," Brinkmann said. The report is based on 45.5 million mortgages, about 85% of the total number of first mortgages nationwide. California, Florida continue to suffer California and Florida continue to have the country's highest rates of new foreclosures. These states have about 93,000 and 90,300 of the foreclosure starts in the quarter, respectively, according to the group. The next state, Illinois, is far behind with about 27,500 starts. California and Florida also lead the nation in job losses, with the Golden State losing 101,300 positions over the past year and the Sunshine State shedding 156,200 jobs. "Until those two markets turn around, they will continue to drive the national numbers," Brinkmann said. Seven other states had rates of foreclosure starts that were above the national average for the quarter: Nevada, Arizona, Michigan, Rhode Island, Illinois, Indiana, and Ohio. But 20 states saw a decline in their foreclosure start rate, due to the moratoriums and modification efforts. Subprime loans weaken One in five subprime loans are now delinquent, crossing the 20% threshold for the first time, the group said. That level was up 3.72 percentage points from a year ago. The number of prime loans past due also increased to 4.34%, up 1.22% from a year ago. A growing number of prime borrowers are expected to fall behind on their mortgages as they lose their jobs. Until the economy turns around, the housing market will continue to suffer. "It's clear the mortgage market is being driven by fundamental issues with jobs and the economy," Brinkmann said.  First Published: December 5, 2008: 10:38 AM | Orange County Beach Cities --------- Dana Point, San Clemente, Oceanside, Laguna Beach, Capistrano Beach, San Juan Capistrano ...read more