Real Estate Agent - Orange County, California - Pat Monahan

What’s ahead for real estate values in ‘09?  The only constant is change.  So, we look forward to change in the New Year and hope that it is for the better.  If you are hoping to buy a house or investment property, your wish is for the sales prices and mortgage interest rates to go down.  If you have to sell a property, then your wish is for interest rates to stay low and property values to at least stabilize or go up.

What affects the value of property over time that causes it to cycle and change?  As with any commodity it’s the demand for it.  Eventually, the value of property will stabilize and cycle up again.  First the bottom must be established (the price where a property will sell immediately for full value).  Then the buyer demand for that price will deplete the inventory and drive the price up again.  Central to that happening is the availability of cash and credit (mortgage loans).

The agencies controlling credit and cash flow are working to thaw the system which is currently seized-up.  There are signs of that happening as more buyers are entering the market, inventories are shrinking slightly, interest rates are at historical lows and government backed loans (FHA) are growing steadily.

When you are ready to buy or sell real estate, think of me.  Instead of worrying about all the questions that “helpful” people will bring to your attention, just call my office, get the straight scoop and ease your concerns. I look forward to hearing from you.

The real estate market is changing as quickly as the rest of the economy.  Mortgage interest rates for the week of December 8th have dipped below 5% for a 30 year fixed conforming loan - some as low as 4.75%! That is under historically low!

If you are thinking of buying a “hot property” soon, get pre-approved for a low-rate loan with a direct lender and contact me for the leads to the best deals on the market.  I have information on where to find the direct lenders if you’d like some guidance.

Most of the bank-owned houses highlighted in my home page have sold or are in escrow, and more houses are coming on market every week.  From January to March 2009 there will be many more bank-owned properties available for the prepared, qualified buyer.  Contact me at 714-932-5529 to get started. The time to act is NOW.

The real estate market in Orange County offers many opportunites at this time.  Approximately 50% of all homes currently on the market are considered distressed sales.  Bank owned (REO’S) and short sales (in the foreclosure process) are priced very competitively.  Today’s buyers have the trifecta on their side - low sales prices, plenty of inventory and historically low mortgage interest rates. 

If you are looking for a deal in Orange County or the coastal communities of Long Beach, Seal Beach, Huntington Beach and Costa Mesa-Newport Beach, contact me for up-to-date inventory information. I know the best areas, the market values and the property condition for the best deals. Save your time and gas, and avoid the frustration of finding those deals too late to make a bid on them.

As you can see from the gallery of properties on my “home page”, the deals sell fast. Don’t wait!