Lake Forest, CA Real Estate News

By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Lake Forest Short Sale Assistance  - Lake Forest Realtor Short Sales are on pace to be over 30% of all Lake Forest home sales in 2011. Of the 906 homes sold in Lake Forest last year 319 were short sales.  That was over 35% of all homes sold in the community. The percentage of short sales grew from 29% of all sales in 2009 to 35% in 2010. Of the 288 active listings in Lake Forest (As of 3/27/2011) 125 are listed as short sales; that is 43% of available inventory.  Lake Forest Short Sale Trends Year Total # Sales # Of Short Sales % 2008 888 147 16.6% 2009 925 272 29.4% 2010 906 319 35.2% 2011 (to 3/15/11) 121 39 32.2% 2011 Listings (3/27/11) 288 125 43.4% Is Your Lake Forest Home "Underwater"? You Have Options, We Can Help. Short Sale May Be The Answer. Facing Foreclosure Is Hard.  We kno...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Lake Forest Four Bedroom Homes - Bargain Buys! 4 Bedroom Detached Homes For $450,000 Or Less: The average sale price of a 4+ bedroom detached single family home between 1,800 and 2,250 square feet in Lake Forest has been $500,615 over the last six months (from 9/15/2010 to 3/15/2011).  Homes in this category generally present the greatest potential for return on investment as they are nearly always in the highest demand by buyers in either "up" or "down" market conditions. Why Not Buy For 10% Or More Below The Average Sale Price? Saving $50,000 or more is possible. Given that the average sale price for a home like this in Lake Forest has been over $500,000 during the last six months a price of $450,000 or less would be a great value.  Even if it needs a bit of work this price point for...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
  Foothill Ranch Four Bedroom Homes For Sale - Bargain Buys! 4 Bedroom Homes For $550,000 Or Less: The average non-distressed (not a short sale or foreclosure) sale price for a 4+ bedroom detached single family home between 1,800 and 2,250 square feet in Foothill Ranch has been $611,977 from 3/1/2010 to 2/28/2011.  Homes in this category generally present the greatest potential for return on investment as they are nearly always in the highest demand by buyers in either "up" or "down" market conditions. Looking To Purchase At 10% Or More Below Average Market Price? Given that the average sale price for a home like this in Foothill Ranch has been over $600,000 during the last 12 months a price of $550,000 or less would be an excellent price price point and a significant bargain.  Here are...
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129 Detached Single Family Homes currently on the market in Lake Forest. Of the 129, 50 are listed at 500k and lower.  Of which about 43 owned by the bank as A Bank REO. Of the 43, 13 are 4 + Beds and 2,000+ square ft. Click www.PaulinLakeForest.com to View these Homes.          
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
  Lake Forest Real Estate Market Report - February 2011 As a fifteen year resident of the area (Foothill Ranch specifically) and a twenty-seven year resident of Orange County I obviously like to keep my finger on the pulse of home values in our community.  Clearly the last several years have not been overly kind to area home values but there are encouraging signs emerging in 2011 that indicate a turnaround.  A reduction in available inventory (the homes actively listed) is one positive sign for home values in our area.  Less supply always fuels demand and the number of homes available has dropped in recent months and year over year.  There are currently 279 homes for sale in Lake Forest (including Foothill Ranch and Portola Hills of course).  This is down sharply from the high levels re...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Foothill Ranch Foreclosure Trends Bank Owned:Cash or Financing A home which was foreclosed upon, not purchased by a 3rd party at the trustee sale and is now owned by the bank.  It is important to note that it may or may not be available for purchase at this time.  Check with us for more details.  If you will be financing a home purchase rather than paying cash then bank owned homes are what you are looking for. Auction (Trustee Sale):Cash Only A home for which a Notice Of Trustee Sale (Often referred to as NTS, NOT or NOS) has been issued and a foreclosure sale date assigned.  It is important to note that the sale date is often delayed or postponed.  Interested parties are required to pay cash in certified funds at the time of sale. A home which has a pending trustee sale may or may not...
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By Paul Youssef
(Torelli Realty)
Short Sale Specialist in Lake Forest, CA What is a Short Sale? A short sale occurs when a negotiation happens with the mortgage lender to accept less than what is actually owed on the home. The mortgage lender agrees to accept a fair market value, which may be considerably less than the remaining loan amount due to real estate price declines over the last few years. The lenders are not required to negotiate but they may do so to prevent foreclosure, which is much more expensive for the bank. Who Qualifies for a Short Sale? Banks consider short sales for 2 main reasons: the seller has a hardship, and the seller owes more on the mortgage than the home is valued at. What Qualifies as a Hardship? -Unemployment or Reduced Income -Divorce -Medical Emergency -Transferred by Job -Bankruptcy -De...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Concert for Gregg FundraiserMany of you know that Mrs. Wiles has been our second language resource teachers at Foothill Ranch Elementary school for many years.  Her children are FRE/SVUSD alumni.  Many know that Gregg Wiles, Lori's husband, was recently involved in a fatal traffic accident. Please consider supporting the Wiles family by attending this worthwhile event: What:  Concert for Gregg FundraiserWhen: Tuesday, February15th, 5:00-9:30 pmWhere: Peppino's Restaurant, Foothill Ranch (20% of all proceeds will go to the Wiles Family)Entertainment: Third Rail Blue (Jump Blues), Parallels (80's Rock) & The Lads Of the Pub (Irish Folk Music)Featuring special guest appearances by: Greg's family membersIf you choose to make additional donations to the family there will be a fund box that e...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Lake Forest Short Sale Report - February 2011 Detached Homes All Sales Short Sales % Of Short Sales November 2010 36 14 38.90% December 2010 36 7 19.40% January 2011 25 5 20.00% Combined 97 26 26.80%         Active Listings 148 54 36.50%   36.5% Of Available Inventory Is Short Sale: Of the 148 detached homes currently for sale in Lake Forest California (including Foothill Ranch and Portola Hills) 54 are short sales (as of 2/10/11).  I always recommend choosing a home based more upon how it meets your needs rather than price but let's face it ... price is almost always a consideration and purchasing a short sale can afford a patient buyer with a rewarding price point.  Short sales sold at a discount of about 15% (versus standard sales) in Lake Forest over the last 3 months (November 2010...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Foothill Ranch Short Sale Homes For Sale - January 2011: Of the 35 detached homes currently for sale in Foothill Ranch 13 are short sales (data from January 25th, 2011).  While overall inventory has shrunk in Foothill Ranch the percentage of short sale listings has increased from last quarter (there were only 9 detached homes listed as of Octover 16th, 2011 from a total of 35 detached homes on the market). Short Sales On The Rise. Short sales have continued be a large component of the Foothill Ranch Real Estate market comprising 43% of all home sales in Foothill Ranch during the last six months (07/24/2010 - 1/24/2011) and representing 59% of the available inventory in Foothill Ranch as of 1/25/2011.  Be Prepared! That old Boy Scout motto is still good advice. A short sale can be an id...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Foothill Ranch Elementary School Newsletter - February 2011 Important Dates: Jan 28th- Mix and No Match Day Feb. 4th- American Idol  Lunch Recess Event questions: dipgals@yahoo.com Feb. 11th- Valentine Bingo (read more below) Feb. 14th- 17th- Teacher Appreciation Week (read more below) Feb. 18th and 21st - No School February Recess Feb. 25th- Twin Day Topics In This Newsletter:- Positive Behavior Intervention Support- Character Education- Lunch Efficiency Program- Science Fair- School Safety- Teacher Appreciation Week- School Garden- Parent Education- Valentine's Day Bingo   Positive Behavior Intervention SupportFRE is implementing the program titled, Positive Behavior Intervention Support (PBIS).  PBIS is a program that is intended to promote pro-social behavior. Positive behaviors are...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Reduce Your Property Taxes In Foothill Ranch TOTAL NET TAXABLE VALUE:  If you purchased a home in Foothill Ranch between 2004 and 2008 it is quite likely that the tax assessed value of your home is greater than it's current market value and you may be eligible for a reduction in property taxes.  Check your most recent tax bill for the current assessed value of your home (this can be found in the upper right hand corner of your property tax bill as depicted to the right) or you can perform a Property Tax Lookup online to access the current assessed value of your home. If the Total Net Taxable Value is greater than what you feel the current market value to be then you should investigate further. There are two ways to appeal assessed value in Orange County:   1. FILE AN ASSESSMENT APPEAL ...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Lake Forest Home Sales In 2010 - The Lake Forest California real estate market continued to shift in 2010 and a year over year comparison with 2009 yields some interesting results.  The data in this post does not include any private sales or manufactured/mobile housing.  The sales figures utilized are taken from the MLS and are believed to be accurate but imply no guarantees. Average Sale Price Increased 4.1% - The average sale price of a home in Lake Forest increased a very solid 4.1% in 2010; from $378,331.00 to $393,776.00. Total sales volume declined only slightly from 920 homes sold in 2009 to 901 homes sold during 2010.  Consistent with Orange County Home Sales trends the percentage of Lake Forest bank owned homes sold decreased dramatically (from 29.5% in 2009) to 20.6% while the...
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By Ron Holborn, Commercial & SFR, Anaheim CA, Real Estate & Short
(Short Sales, Foreclosures, Rentals, Income Real Estate)
2011 OC Music Awards Best Live Band Showcase Tuesday 1/18! Showcase Series Night 3 will be held at The Gypsy Lounge in Lake Forest. The Gromble, Strange Birds, May McDonough, Kiev and California Condors performs. Selected from over 500 submissions, these artists will perform to achieve their category title and a chance to perform onstage at the 10th Anniversary OC Music Awards night on March 5, at Grove of Anaheim. 2011 marks the 10th anniversary of the OC Music Awards, Orange County’s premier annual music event, honoring the best and brightest in local talent. Over the past 10 years the Awards has provided a platform for local artists to gain recognition and exposure in one of the nation’s most vibrant music scenes. Each year the Awards presents a season of live music starting with a f...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Portola Hills Short Sale Help.One In Every Three Homes Sold In Portola Hills In 2010 Was...... A Short Sale.   2010 Portola Hills Short Sales        All Sales        Short Sales      % Short Sales           All Homes   96  36  37.5 %     Detached  32  11  34.4 %     Attached  64  25  39.1 %               Facing Foreclosure Is Hard. We know that.  The stress and worry may feel insurmountable.  The keys to navigating through mortgage hardship are knowledge and acting upon that knowledge before your options are eliminated. Don't Let Time Run Out. Let us do our part. We provide Portola Hills short sale help. As distressed property and short sale specialists we are skilled at managing your options within all stages of foreclosure.  Our business is helping families to avoid foreclosure and th...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
How Many Homes Sold In Foothill Ranch During 2010?2010 is in the books.  How was the Foothill Ranch real estate market you ask?  While sales volume was down from 2009 (14 fewer homes sold so volume was down about 7.7%) the average sale price was up 2.6%.  The results for Detached Single Family Homes was the most encouraging development in the community as the average sale price rose over 3.5%.    Foothill Ranch 2010 Report 2010 2009           All Homes Sold 168 182   Average Sale Price $404,182 $393,976   Average Days On Market 95.6 101.3   Bank Owned (# / %) 36 / 21.4% 49 / 26.9%   Short Sales (# / %) 59 / 35.1% 69 / 37.9%           Detached SFR 79 84   Average Sale Price $582,613 $562,649   Bank Owned (# / %) 12 / 15.2% 18 / 21.4%   Short Sales (# / %) 18 / 22.8% 30 / 35.7%          ...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Foothill Ranch December 2010 Home Sales Report & Active Listings Foothill Ranch Real Estate and Homes For Sale             Foothill Ranch - Detached Home Sales - December 2010 Address Bed Bath Garage Sq. Ft. Price DOM Pool  Tract                   23 Rue Du Parc 3 2.5 2 1,400 $405,000 54 N Brittany 12 Calotte Pl ** 3 2.5 2 1,647 $485,000 81 N Canyonview 7 Alta Vista ** 3 2.5 3 1,800 $520,000 56 N Traditions 26 Tavella Pl 3 2.5 2 1,923 $529,000 53 N Trieste 12 San Angelo * 5 2.75 3 2,350 $585,000 119 N Vintage Gallery 28 Blanco ** (Best Buy!) 4 3 3 2,545 $570,000 35 N Mandeville AVERAGE 1,944 $450,667 66  * Short Sale / ** Bank Owned                          Foothill Ranch Detached Home Active Listings (as of 1/7/2011) (Click On The Home Address For More Details)                     Addr...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Lake Forest Waterfront Homes: A Guide To Lake Forest Waterfront & Lakefront Real Estate The two lakes in Lake Forest feature the Lake Forest Beach and Tennis Club, and Lake Forest Sun and Sail Club. Locally, each lake is identified by whether it is the location for the Beach and Tennis Club or the Sun and Sail Club.  In both cases, there are condominiums and custom homes built at the shores around the lakes. The City of Lake Forest is situated at the scenic Saddleback Valley Mountains. Thanks to its convenient location near Interstate 5 and Interstate 405, as well as the 241 Toll Road, all of the wonderful attractions in the area are readily accessible, whether in Orange County, San Diego, or Los Angeles.  Lake Forest is also a mere nine miles from the Pacific Ocean, providing beach act...
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By Dave Gubler, Realtor | Orange County
(Mission Viejo, Foothill Ranch, Lake Forest, Ladera Ranch)
Lake Forest Home Sales - Real Estate Market Report November 2010 Up to date information about the local Lake Forest real estate market is a useful tool in assisting buyers and sellers to make informed decisions about purchasing or listing a home.  Here is the November 2010 Lake Forest Real Estate Market Repot: NOVEMBER 2010 Total Detached Attached  # Of Homes Sold (MoM Comparison)  53 (down 20.9%)  35 (down 2.8%)  18 (down 41.9%)  Average Price (November Only)  $420,596.00  $511,263.00  $244,300.00  Active Listings (11/30/10)   244   139  105   YTD Sales Volume YTD Average Price   (YoY Comparison)   827 (down 1.8%)  $395,148.00 (up 4.8%)   452 (up 2.0%) $526,521.00 (up 3.7%)   375 (down 6.1%) $236,800.00 (up 2.1%)    63  homes came on the market in Lake Forest during November (slightly ...
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