Sunset Beach CA real estate listings and homes for sale, home buying, home selling information – Advantage Property

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The market is heating up.

March 9th, 2010 7:59 PM

We now have 6 distinctive real estate markets today. The first market 1 is the few and far between folks who want to refinance their home to fix an adjustable rate loan or to reduce their current interest rate. Not many of them left, but they are out there. The next three markets are purchase loans. The second market 2 is the well capitalized group who are looking for good deals. They are making full cash or mostly cash offers on good properties and they are making a killing right now. The third market 3 consists of the buyers who have the 10-20% down and strong enough salaries to qualify for the typical single family residence. This is a small but growing group. The fourth market 4 are the first time homebuyers with the 3-5% down payment. Now, with the great $8,000 credit that they have at their disposal, you would think that it would be easy to purchase a home, but it's not. These poor folks, they make offers on properties and are continually passed up for other offers that have larger down payments. I feel sorry for this group. Some of them have given up after making multiple offers, opting to rent for awhile and save up a little more money. I am working to develop options for the. The fifth market 5 are the renters. We are becoming a country of "serfs" and "lords". I foresee a lot more rented properties in the near future than owner occupied properties. There are many people who, for various reasons, are not able to purchase now, or have lost their homes and cannot buy another one for several years, or are simply not confident in the stabilitiy of their employment status or property values. These people either have to or want to lease at this time. This group is keeping our property management services very busy right now. The sixth market 6 are the short sales. They are owner occupied and investment properties. People are selling because they have to financially or have lost their investment's equity to the extent that it is detrimental to their portfolio. This is a brisk business right now. I am compliant-centric ex-bank VP and I love pushing paper so I seek that business. There will always be a real estate market. I hope you all know that I am here for you, no matter what your needs are. You can contact me at any time. My direct line is 714-642-5881.

Posted by Joyce Riviere on March 9th, 2010 7:59 PMPost a Comment (0)

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It's getting better!

September 16th, 2009 12:34 AM

As the Beatles song goes, some 40 years ago this year "I have to admit it's getting better, it's getting better all the time." It's true, all the stats lead us to that conclusion. So, WooHOO! However, if your thinking of calling me in the morning to ask for a 100% LTV, stated income loan with a 580 FICO score, please wait...oh for maybe the next 20 years. I don't see the economic irresponsibility of our country's recent history repeating itself any time soon. What I do see is a slow, controlled growth pattern emerging and continuing for the next 3 to 5 years. HOWEVER, please be aware of the reality of the "stimulus" package effect, we are headed into a long term period of INFLATION. That's great news for investors who have seen their portfolios deplete over these past 5 years, but BAD NEWS for borrowers, as they are about to watch interest rates climb to very high rates. Luckily, I remember rates in the teens, back in the '80's. It was a very busy time, as borrowers worried that rates might exceed 20%. They did not, and once they got down to under 10%, there was a great surge of loan applicants who considered anything less than 10% to be very low. So prepare for the future. Higher rates on your loans, higher rates on your investments, and equity building. How will lending guidelines change? Will the lenders allow the self employed alternate methods of verifying income, such as bank statements? I do anticipate this, within the next year. It's getting better, all the time.

Posted by Joyce Riviere on September 16th, 2009 12:34 AMPost a Comment (0)

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Can you say "R-E-C-O-V-E-R-Y" ?

June 9th, 2009 11:27 AM

Here's what we have all been waiting for...

On Monday, June 1, the Commerce Department reported total construction spending unexpectedly rose 0.8% in April.

The Institute for Supply Management reported the monthly index of manufacturing activity rose in May to 42.8 from 40.1 in April.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 6.7% to 90.3 in April from 84.6 in March.

The Commerce Department reported factory orders rose 0.7% in April, after a revised 0.9% drop in March.

The Institute for Supply Management reported the monthly index of non-manufacturing activity rose in May to 44 from 43.7 in April.

Initial claims for unemployment benefits fell by 4,000 to 621,000 in the week ending May 30 from a revised figure of 625,000 in the previous week.

So far, so good!

Posted by Joyce Riviere on June 9th, 2009 11:27 AMPost a Comment (0)

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What's wrong with this picture...

March 31st, 2009 8:00 AM

Sales are up, prices are down, rates are low...if you heard this statement several years ago, you would have jumped on this market! So, what's wrong with this picture?

How many of you have lost income due to the recsession (or maybe Dr. Alan Israel is right when he insists it's a depression). Or is it, since the lending rules have changed to reflect the sagging property values, that not as many of us have a real down payment laying around?

No 100% financing or stated income (over 80%) at this time. Self employed borrowers are having the worst time of all qualifying for loans. It's back to net income for them.

It'll all be back some day, believe me. Whatever you think it is, don't blink twice, you will miss this market. All is in flux and we are, at all times, a few spoken (or mis-spoken) words away from a market shift.

Anyway, I mean it when I say, I am here for you. Things are tough, but not as tough as they were...or are we just getting used to "tough"??? We resilliant little creatures will find light at the end of the tunnel, even if we have to dig our own tunnel and install the friggin light ourselves! No, I'm not a Polyanna, I am just making lemonade ("when life hands you lemons...").

Posted by Joyce Riviere on March 31st, 2009 8:00 AMPost a Comment (0)

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New economic indicator Edwin Acevedo

March 19th, 2009 9:14 AM

Exciting news, if you really want to know if the economy is going to improve soon, check this out.

Edwin Acevedo just joined Advantage. I have known Edwin for five years. He was working for Boeing and working on his Masters Degree. He was buying real estate and became a saavy real estate investor.

Recently, Edwin left his position at Boeing and got his Broker's license. The fact that someone so highly educated would leave the corporate world to work in real estate full time tells me that 2009 is going to be a great year. In fact, I would consider Edwin's move a positive economic indicator!

Heads up, we are planning an open house in April, as soon as we get the new building sign up. It will be a fabulous wine and cheese even, complete with pilates and electric boat rides outside here in the harbour. It will be lots of fun and a little zany, so look for our invitation!

Posted by Joyce Riviere on March 19th, 2009 9:14 AMPost a Comment (0)

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Bernanke's speech a big "duh"

February 24th, 2009 7:53 AM

Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy is suffering through a "severe contraction" and pledged to use all available tools to lift the country out of the recession that already has cost millions of Americans their jobs...

What else is new?? What tools?? Aren't you fresh out of available tools?? Are there any sharp tools in your shed?? Isn't this the same statement you made six months ago?? Is this just another opportunity for Congress to postulate and get their faces on TV in front of their constituents??

...and this is me, the optimist! The truth is, the Congress is without tools. In the end, the markets are making the decisions. The markets, struggling to retain their freedom, are US and our power to INVEST IN AMERICA.

Still lovin' it!

Posted by Joyce Riviere on February 24th, 2009 7:53 AMPost a Comment (0)

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OBLIVIOUS ON WALL STREET , CLUELESS IN WASHINGTON

February 8th, 2009 11:41 PM

Wall Street - Whatever has led the executives on Wall Street to believe they can take taxpayer's bail out dollars and not be accountable for how they spend it? Nobody should expect to spend like a drunken sailor with one hand while dipping the other into public coffers. But that is exactly what the bailed out banks and corporations have been doing.
High end corporate junkets to plush spas, humongous golden parachutes for loser executives, expensive new corporate jets, private jets to chauffeur about, and gigantic bonuses for the non-achievers. Oh, what’s a few million here or there? The problem is, the Wall Street players don’t play with their own money; it’s supplied by the endless flow of stockholders. So when that pipeline dries up and they are in dire straits they just turn on the spigot to public funds...bailout dollars. Should we be surprised when those in a habit of using OPM (other people’s money) turn to taxpayer’s (Washington), for their next fix?
Then there is Madoff, who made off with billions of investor dollars. How in the world did he fly so many years under the radar of industry and regulatory watchdogs? But, then again there was at least one industry stalwart that cried wolf for nearly a decade and was ignored by both Wall Street and Washington. Madoff maybe the prince of the Ponzi. This may be the largest private scheme, but it pales in comparison to the king, more about that later.
We are being led to believe that no one on Wall Street had any idea that the junk-loan house of cards would one day implode, just party on.
Washington Now, let’s talk about Washington. All through this, the regulators and overseers are clueless to the inevitable disaster as they encourage and promote the bad behavior.
This crew suffers from the same addiction to other people’s money, only it's the taxpayers'. Their behavior mirrors Wall Street.
Consider the recent four star junkets taken by members of Congress and their families. Perhaps the use of government planes to commute between home and Washington. Or special interest contributions to the campaign coffers.
It is little wonder that first bailout dollars go first to their twins on Wall Street and then into their own earmarks and pork barrel projects. They can always raise taxes or borrow from China.
Do you remember the prince of the Ponzi? Well, meet the king. Take a close look at the social security system or any number of other entitlement programs and you have the model Wall Street is mimicking.
Oblivious and clueless, you bet, the whole lot. And now they’re going to fix it with more of our money?

Posted by Joyce Riviere on February 8th, 2009 11:41 PMPost a Comment (0)

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Taking a Bite Out of McMansions

February 1st, 2009 6:53 PM

Smaller Is Better Goodbye to McMansions and, hello to the Mini Mac, as Americans turn to 'right-sized' homes. Recent research suggests that homes being built today are getting smaller. According to the U.S. Census Bureau, the average size of homes started in the 3Q08 was 2,438 square feet, down from 2,629 square feet in the 2Q08. Similarly, the median size of homes started in the 3Q08 was 2,090, down from 2,291 in the 2Q08. The statistics confirm what the housing industry has suspected, America's housing demands are downsizing.
Gayle Butler, editor-in-chief of Better Homes and Gardens, said for many homeowners, it is not so much downsizing as "right-sizing", giving up big homes with unused space for homes that better fit their needs.
As homes get smaller, home-owners are economizing the space they do have. Butler says she is seeing more interest in "Wii-sized spaces." Other features high on the list include flexible family rooms that accommodate a variety of activities, from video games to fitness systems, and outdoor kitchens and entertaining areas.
According to a survey conducted by the magazine, 32% of the 733 potential new-home buyers participating said they expected their new home to be either somewhat smaller or much smaller than the one they already own.
"Either by necessity or choice, they're willing to take a step back from the McMansions," Butler said.
Other housing trends include:
Simpler Elements Consumers say they need fewer luxuries in their next home. 20% or more of the participants in the survey viewed upgraded landscaping, granite countertops, and luxurious master suites as less important, 35% graded high ceilings as less important.
Going Green The Better Homes and Gardens survey said 90% of those surveyed are planning to have energy-efficient heating and cooling systems and 31% plan to have geo-thermal heat. "The green theme touches everything in the home, from the food we look to consume, our health concerns in the home, building -- even our furnishings in the home," said Robin Avni, senior director and consumer strategist for the firm Iconoculture, a cultural trend research firm.
According to the National Association of Home Builders, 88% of builders surveyed in January said that they are building or planning to build a larger share of smaller homes and 89% said they're planning on building more lower-priced models.

Posted by Joyce Riviere on February 1st, 2009 6:53 PMPost a Comment (0)

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Ups and Downs January 9, 2009

January 7th, 2009 9:23 PM

On the down side, Property values in California continue to be depressed. Experts say that home values will not go up soon and when they do, they will not go up quickly. On the up side, interest rates continue to be low and are expected to get lower, in an incentive effort to motivate buyers to buy and owners to refinance. Aside from all the ups and downs, the world still turns, doesn't it? While waiting for your Holy Grail to arrive, remember...more than ever, family values are strong, people strive to improve their lifestyles, and you can count on me to assist you with your real estate sale, purchase, lease, or mortgage loan. I look forward to a smashing year!!

Posted by Joyce Riviere on January 7th, 2009 9:23 PMPost a Comment (0)

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This Year's Ebenezer Scrooge

December 21st, 2008 9:09 PM

THIS YEAR'S EBENEZER SCROOGE

To date nearly half of the $350 Billion of the $700 Billion TARP (Troubled Asset Relief Program) fund, approved by congress and earmarked to "bailout" financial institutions, has been distributed. At week's end about $17B remained uncommitted, that is, until President Bush and Treasury Secretary Paulsen went on a pre-Christmas spending spree
Two things are certain: 1) If there is money in the bank, Washington cannot resist spending it and; 2) The Administration does not want the big three auto manufactures debacle to erupt on their watch - solution: to dish-out just enough to carry the big three through the inauguration and leave it on the desk of the new President and Congress.
On the latter, the Administration has acted over the objections of 26 House and Senate Republicans, who contest that the funds are specified for financial intuitions. Suggestions were made that diverting these funds could be both illegal and unconstitutional.
The Administration is undeterred and has committed to funding the remaining billions with vague conditions thus diverting a massive pre-Holiday layoff, an evitable confrontation with the UAW and a landside of allied business layoffs and closings.
President Bush postured his action as giving time for the auto firms to prepare for an orderly reorganization under chapter 11 bankruptcy rules. What he accomplished is to punt the problem to the Obama and a new congress that will be much more union-friendly.
What does this mean to the rest of us? We won't all be staring at a Bah Humbug holiday. But this does little for the housing industry or the greater economy. Washington's approach may relieve Wall Street and the Main Streets of Michigan; but elsewhere homeowners, mortgage holders and small business owners will continue to feel the sting of recession and tight credit.
This year's Ebenezer Scrooge - The legislation that offers relief to credit card holders, by preventing issuers from jacking up rates on consumers who have made their payments on time, does not take effect until 1010. In the meantime, many consumers will have their new debt service ratios excluding them from homebuying, refinancing and other purchases. The credit card companies are adding fuel to the credit crisis fire and Washington is their accomplice. Perhaps we have more than one Scrooge this season.

Posted by Joyce Riviere on December 21st, 2008 9:09 PMPost a Comment (0)

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