Home Buyers – Hands Off Your Credit While Your Home Search or Loan Is Pending!

  • July 16th, 2013
  • devinlucas

Costa Mesa, Newport Beach and Orange County home buyers – in today’s tough lending and underwriting climate, it’s routine for lenders to check, double check, then check again your credit, employment and income.  In other words, the “pre approval” is hardly the final check.  Your lender is likely (in fact, required, if through Fannie Mae […]

What To Do In Your Yard?

  • July 10th, 2013
  • devinlucas

A neat graphic from the California Association of REALTORS® and PLANET, the Professional Landscape Network, giving ideas and survey results for what to do in your back yard.  Perfect ideas to bring to your Costa Mesa, Newport Beach or Orange County home.  Enjoy! -Devin Lucas Author Devin R. Lucas is a Real Estate Attorney, Broker […]

Interest Rates Creeping Back Up; Highest in One Year

  • May 30th, 2013
  • devinlucas

Those record-low interest rates, which are partly driving the real estate recovery, especially in locations such as Newport Beach and Costa Mesa, may be heading for the rearview mirror as the economy “recovers” and rates are back on the incline. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.81 percent with an average 0.8 […]

California Legislature Proposes More Real Estate Transfer Taxes

  • May 29th, 2013
  • devinlucas

They’re at it again… the California State Legislature wants more of your money. This time, via a proposed additional $75.00 tax on any county real estate filing including refinancing, transferring into or out of a trust, liens, quit claim deeds, etc. It’s cleverly called “SB-391: California Homes and Jobs Act of 2013.” However, the same […]

Orange County Real Estate data is in for April: Sold prices up 27.4% from April 2012, the 14th consecutive month of year-over-year gains.

  • May 17th, 2013
  • devinlucas

Ugh, more mind-boggling figures from the number-crunchers at DataQuick. Orange County’s April home sales are up 27.4 percent from April 2012. Southern California’s average sales were up 23.4 percent from April 2012. And from just March 2013, the sales prices jumped 8 percent in Southern California. According to DataQuick, April was the 14th consecutive month […]

Some Financial Perks of Homeownership

  • May 6th, 2013
  • devinlucas

Here’s a neat graphic illustrating some of the financial perks of homeownership. Newport Beach and Costa Mesa real estate certainly bring even more perks to the table!  Sources include the California Association of REALTORS®, the National Association of REALTORS®, the Federal Reserve and Energy Star. … -Devin Lucas Author Devin R. Lucas is a Real […]

Low Inventory

  • March 8th, 2013
  • devinlucas

Most people now know there is a severe lack of supply of housing, a “low inventory,” especially of desirable homes, in desirable areas, in those under $1 million gem neighborhoods such as East Side Costa Mesa and more expensive dream homes in areas such as Newport Beach.  Supply-and-demand economics kick in, and Voilà, you have multiple offers on prime properties […]

Mortgage Forgiveness Debt Relief Act Extended – Good For Home Supply; Mixed Messages For Economy

  • January 2nd, 2013
  • devinlucas

As part of the so-called “fiscal cliff” negotiations, Congresses’ late night settlement included a one-year extension of the Mortgage Forgiveness Debt Relief Act. Essentially, this allows underwater borrowers (those who owe more on their mortgage than their home is currently worth) to “discharge” any tax liability for loss incurred from a short sale, foreclosure or […]

Homebuyers – Be Prepared to Compete As Competition Heats Up; The New Supply-and-Demand Driven Market

  • December 11th, 2012
  • devinlucas

House hunters in Newport Beach, Costa Mesa, Orange County and elsewhere are encountering formidable old foes… ample competition, multiple offers and all cash buyers. Well-priced homes in desirable areas are rare – and thus a precious commodity.   Some homes in sought-after neighborhoods are selling like hotcakes, above list price, with multiple offers submitted within […]