Orange County Pending Home Sales Up in May, Continue Pattern of Strong Annual Gains

Pending Home Sales Up in May, Continue Pattern of Strong Annual Gains

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949-273-0018


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Ocean View of Catalina Island to die for! San Clemente

Ocean View of Catalina Island to die for!

Douglas Pemberton
Whitewater Realty
At the San Clemente Pier

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For Rent: 3BR/2BA Condo in Dana Point, CA, $2,500/month

Douglas Pemberton | NextAge Realty | (949) 273-0018 Selva Rd, Dana Point, CA The Strand, Beautiful Niguel Beach Terrace 3 Bedroom, 2 Bath Condo In A Prime Location 3BR/2BA Condo $2,500/month Bedrooms 3 Bathrooms 2 full, 0 partial Sq Footage 1,234 Parking 2 dedicated Pet Policy Cats, Dogs Deposit $0 DESCRIPTION Beautiful Niguel Beach Terrace 3 Bedroom, 2 Bath Condo In A Prime Location. Spacious Living Room, Dining Room And Kitchen. Travertine Floors. Ocean View From The Front Entrance Patio Balcony. Two (2) Additional Patios Make This A Great Place To Relax. Gorgeous Brick Fireplace In The Living Room. Inside Laundry. Great Community With Pool, Spas, And Clubhouse. Across The Street From Strand Beach. Close To All The Ammenities Of Dana Point And Monarch Beach. Includes All Utilities Except Electricity And Cable. This Is A Great Opportunity To Live At The Beach. see additional photos below RENTAL FEATURES - Air conditioning - Central heat - Fireplace - Walk-in closet - Hardwood floor - Tile floor - Family room - Office/Den - Breakfast nook - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Stainless steel appliances - Laundry area - inside     COMMUNITY FEATURES - Clubhouse - Storage space(s)   LEASE TERMS 12 Months ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 4 Photo 5 Photo 6 Photo 7 Contact info: Douglas Pemberton NextAge Realty 01767969 (949) 273-0018 Equal Opportunity Housing Posted: Dec 2, 2011, 8:57am PST

Distressed homes selling for less money

The share of bank-owned homes and homes in some stage of foreclosure dropped 5 percent from the first quarter to the second quarter, falling from 36 percent to 31 percent, but was up from 24 percent in second-quarter 2010, according to a report released today by foreclosure data provider RealtyTrac.

And distressed properties are selling at a larger discount these days, RealtyTrac reported:

• The average sales price of a bank-owned (also known as real estate owned or REO) home was $145,211 in the second quarter, which was about 40 percent below the average sales price of a nonforeclosure home. That compares with a 36 percent discount in first-quarter 2011 and a 34 percent discount in second-quarter 2010.

• The average sales price of a preforeclosure home (preforeclosures, which are homes in default or scheduled for sale at public auction, are often sold in a short-sale process) was $192,129 in the second quarter, which is 21 percent below the average sales price of a nonforeclosure home. That compares with a 17 percent discount in first-quarter 2011 and a 14 percent discount in second-quarter 2010.

There were 162,680 sales of bank-owned homes to third parties in the second quarter, RealtyTrac also reported, roughly flat compared with the 162,900 reported in the first quarter and down 10 percent from second-quarter 2010.

REO sales accounted for 19 percent of home sales in the second quarter, compared with 23 percent in the first quarter and 15 percent in second-quarter 2010.

There were 102,407 sales of preforeclosure homes to third parties in the second quarter of this year, up 19 percent from the first quarter but down 12 percent compared to second-quarter 2010. These sales accounted for 12 percent of sales in the second quarter of this year, flat with the first quarter and up 10 percent compared to second-quarter 2010.

"The jump in preforeclosure sales volume, coupled with bigger discounts on preforeclosures and a shorter average time to sell preforeclosures, all point to a housing market that is starting to focus on more efficiently clearing distressed inventory through more streamlined short sales -- at least in some areas," said James Saccacio, RealtyTrac CEO, in a statement.

"This gives distressed homeowners who do not qualify for loan modification or refinancing -- or who are not interested in those options and want to sell -- a better chance of completing a short sale to avoid foreclosure."

Expedited short sales, he added, "also give lenders the opportunity to more pre-emptively purge nonperforming loans from their portfolios," and avoid a lengthy foreclosure and REO process.

Among those metro areas with at least 100 foreclosure-related sales in the second quarter, Louisville, Ky., had the largest average foreclosure discount -- 54 percent below the average sales price of nonforeclosure homes. Florida's Sebastian-Vero Beach metro area was second on the list with an average foreclosure discount of 53 percent, followed by Milwaukee (51 percent), Pittsburgh (51 percent), and Kalamazoo, Mich. (50 percent), RealtyTrac reported.

Fake Craigslist Ad Attracts Peeping Strangers To San Clemente Home - cbs2.com

Fake Craigslist Ad Attracts Strangers To O.C. Home

Rachel Kim
SAN CLEMENTE, Calif. (CBS) ―

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They were making dinner when suddenly strangers were peeping in their windows. A San Clemente couple's effort to rent their home on Craigslist has turned into a nightmare.

CBS

They were making dinner when suddenly strangers were peeping in their windows. A San Clemente couple's effort to rent their home on Craigslist has turned into a nightmare.

The Van Nostrans are boxing up the eight years they spent in their San Clemente home.

But before they moved to their new house, they wanted to find good tenants in their current home.

"We are asking $3,500. It's 2,800 square feet…basically 3 to 4 bedrooms," said Melissa Van Nostran.

So their realtor put an ad on Craigslist but the problem was that someone else posted a fraudulent one too.

Someone advertised the Van Nostran's house lease for only $1,400 a month. The fake ad said the owner would send the house keys after he received a deposit.

Interested renters saw the real and fraudulent ads.

"We got multiple calls, multiple emails on the house obviously when it was listed for $1,400 because everybody was like, 'oh that's too good to be true,'" said Melissa.

And it was.

Not only that the family got flooded with calls and emails, they got unexpected company because the fake ad said the house was vacant and available to check out.

"I had somebody look in the window while I was making dinner and they kind of looked at me like 'who are you?' And I looked at them like, 'can I help you?'" Melissa said.

Orange County Sheriff's investigators are looking into the Van Nostran's case. So far, no money has been sent to the person who posted the fake ad.

On Wednesday night, the family was able to rest easy – they'll be moving on and out after learning a tough lesson.

"You can't believe that people would do that…and myself, I would never think of doing something negative – impacting somebody else's life in that way. So it opens your eyes up that there is a lot of bad people out there," said Mike Van Nostran.

San Clemente seeks bike solutions on 2 traffic-heavy routes | city, cameron, camino - News - The Orange County Register

San Clemente is calling in experts to come up with the best way to provide safe passage for bicyclists on two of the most challenging roads to ride in town.

On a 5-0 vote Tuesday night, the City Council agreed to pay Fehr & Peers Transportation Consultants $64,300 to:

A cyclist heads south on El Camino Real in San Clemente. The city is studying how to make the road safer for cyclists riding between Avenida Pico and Dana Point on PCH and between Camino Vera Cruz and El Camino Real along the busy Pico corridor.

PAUL BERSEBACH, THE ORANGE COUNTY REGISTER

• Find the best way to get bicyclists safely between Camino Vera Cruz and El Camino Real along the busy Avenida Pico corridor.

• Recommend the best way to engineer a safe bikeway between North Beach and the Dana Point city limit along El Camino Real (Pacific Coast Highway). (Click here to see map)

City Engineer Bill Cameron said he would like to see a Class 1 bikeway – separated from cars – for as much of the Pico route as possible.

"Pico is our most heavily traveled road," he said. "I'm a cyclist and I don't want to ride on that street."

The city expects to receive options with cost estimates attached. Solutions could involve routing the bikeway along a storm-drain channel or even tunneling under I-5, which would be expensive, Cameron said. The city would apply for grants and work with the California Department of Transportation and the Orange County Transportation Authority to incorporate bicycle improvements into a proposed widening of the Pico freeway undercrossing.

On El Camino Real, the city needs to decide whether to have protected bike lanes on each side of the highway or use a single, two-way protected lane like Dana Point has. Cameron said he would want San Clemente's to be wider.

There's also the question, Cameron said, of how bicyclists should negotiate the intersection of El Camino Real and Avenida Estacion, which will get a traffic signal. Right of way is limited in that area.

Cameron said the city expects some partially engineered answers in time to meet a June 9 deadline for a grant application.

Pete van Nuys, a San Clemente cycling expert, questioned whether the city is going too fast. He said he doesn't like what he called the Dana Point "cattle chute" approach and that he could envision a Class 1 trail halfway up the Marblehead Coastal bluff.

Brenda Miller, a local bicycle enthusiast and city planning commissioner, said the city needs to ensure connections to neighborhoods such as the Marblehead Coastal development and Shorecliffs. "Do it right rather than twice or thrice," she said.

Cameron said a route halfway up the bluff would be nice, and Marblehead Coastal developers show a walking trail there in their plans. Only the Marblehead Coastal stretch of bluff north to Camino Capistrano is suitable for the trail, Cameron added.

Though the city hopes to apply for an El Camino Real grant by June, Cameron said the city has longer to deal with options for Pico.