Some of the Homes Recently Sold by Jim Salem, First Team Real Estate

First Team Real Estate Home Mortgage Update

Interest Rates Moved Even Lower, Contact Us to See How this Can Help You if You are Buying or Selling a Home in Todays Real Estate Market

Strategic Marketing Plan

Exposure Creates Demand 

and Demand Creates Value -

Watch to See How We Help You 

Get Top Dollar for Your Home!

Spacious Diamond Bar View & Pool Home

21035 Glenbrook Drive, Diamond Bar CA 91789
Spacious Diamond Bar Home located in Walnut Valley School District. Panoramic City Lights, Hills and Mountain Views from Master Suite and Bedroom 2. 
Private Pool and Spa. 
Over 2,400 SQFT 4 Bedroom, 2.5 Bath Home. 
Light and Open Kitchen with Breakfast Bar and Nook. 
Huge Family Room with Fireplace and Wood Flooring. 
Formal Living Room with Vaulted Ceiling. 
Formal Dining Area. 
Huge Master Suite with Breathtaking View, 2 Closets and Double Sink Vanity. 
Upgraded Furnace and Central Air. 
Indoor Laundry Room. Tile Roof. Newer Fence. 
2 Car Attached Garage with Opener. 
Highly Ranked Diamond Bar High School. 
No Association Dues and No Mello Roos Tax. 
Standard Sale!
only $588,000

First Team Real Estate Home Mortgage Update

Home Loan Mortgage Rates are in the range of Record Lows!

Anaheim Hills Single Story Home with Huge Yard

7920 E. Sagewood Lane, Anaheim Hills 92808 - SOLD!

Anaheim Hills 3 Bedroom 2 Bath Single Story Home on Quiet Cul-de-sac Street. Huge, Private Yard with Tranquil Panoramic Canyon View! Beautiful and Ready to Move In.
Beautiful Australian Cypress Hardwood Floor
Smooth textured Vaulted Ceilings
Stainless Oven, Dishwasher and Built-in Microwave
Newer Dual Pane Windows and Doors
Luxurious Master Suite Bath Completely remodeled with Granite topped Double Sink Vanity
Beautiful and Elegant use of Paving Stones on Driveway and for Spacious Back Covered Patio
Upgraded Furnace & Air Conditioning
Call Jim Salem for Details. 714.694.0880 jim@jimsalem.com

Anaheim Hills Single Story View Home

7967 E. Bauer Rd, Anaheim Hills 92808 - SOLD!

4 Bedroom 2 Bath Anaheim Hills house with Breathtaking Panoramic View!
only $468,000
Call 714.694.0880 for more information or to schedule a private showing.

East Hills Neighborhood Yard Sale Anaheim Hills

We will be organizing and sponsoring the East Hills Community Yard Sale this Saturday April 14th. 7am to Noon.
Look for signs in Anaheim Hills at Santa Ana Canyon and Weir Canyon. To participate email your address to jim@jimsalem.com. There will be lots of homes selling lots of stuff.

SORRY, TOO LATE, NOW LEASED!
ANAHEIM HILLS CONDO FOR LEASE - 1050 S. ROSSANO WAY, ANAHEIM HILLS 92808

3 Bedroom 2 Bath Summit Renaissance Condo For Lease. Private, Gated Community. End unit all on one level on the 2nd Floor overlooking the Pool area. Approx 1200 sqft with Fireplace and Balcony. Washer/Dryer and Refrigerator Included. 2 car attached tandem Garage. Freshly painted and ready to move in April 16. Maple color Easy Care Laminate Flooring throughout. Only

$1950/month on a 1 Year Lease. Small Pet will be considered.
Call us to view at (714) 694-0880 jim@jimsalem.com

First Team Real Estate Home Mortgage Rate Update

Hop On Over to the 3rd Annual Easter Egg Hunt at First Team® Anaheim Hills

 Easter Bunny is coming to Anaheim Hills and he’s got eggs to share! The First Team^® Anaheim Hills office is hosting its 3rd Annual Easter Egg Hunt March 31.

Bring your kids, grandkids and neighbors to join in on the festivities. And don’t forget to bring your camera because Dot the Easter Bunny will be hopping by to take photos with egg-hunters big and small!

If you need something to nibble, there will be food booths serving breakfast and lunch (with more than carrots, of course!). In addition, there will be a bake sale with goodies galore as well as cotton candy to satisfy your sweet tooth. Don’t miss out on the games and prizes—all proceeds will be going to a local military charity.

The excitement is from 10 a.m. to 1 p.m. on Saturday, March 31, at 5500 E. Santa Ana Canyon Rd., Suite 150, in beautiful Anaheim Hills. The first egg hunt starts at 11 a.m., individual hunts varying by age. Don’t hide out in your rabbit hole—come out and join us for some great, spring fun!

Reduce Your Orange County California Property Tax

If you purchased your home in the past 8 years - you may be able to reduce your property taxes. Simply submit the 1 page Informal Review Form before April 30, 2012

THERE IS NO CHARGE TO FILE A REQUEST OR TO HAVE YOUR PROPERTY’S VALUE REVIEWED BY THE ASSESSOR

You will need 3 comparable sales showing the value of your home. The sales must have occured before March 31, 2012

Get the REQUEST FOR INFORMAL ASSESSMENT REVIEW form from the Orange County Assessor at the link below: (Note: the form asks if you have a "Property Tax Agent representing you" - that is NOT us - that is used if you are paying an agent to represent you, otherwise leave it blank.) THE DEADLINE TO FILE THIS FORM IS APRIL 30, 2012. Pick your type of property and a form will come up that you can fill in online.

OC Assessor Property Tax Reduction Form

View an informative Q & A from the Orange County Assessor at:

OC Assessor Property Tax Reduction Q & A

To receive FREE comparable sales information to use for your Property Tax Review, we are happy to help you or your friends and family, go to:

Free Property Tax Help - Free Current Home Value Report

YOU WILL THEN RECEIVE YOUR VALUATION NOTICE FROM THE COUNTY IN JULY

If you still believe your property value is incorrect after reviewing your value notice and factual evidence, your next step is to consider filing an assessment appeal. Forms are available at most County Libraries and are in a downloadable format at: www.oc.ca.gov/cob/

YOU MUST FILE BY THE DEADLINE OF SEPTEMBER 15, 2012

What Happens to your Property Tax Values When the Economy Recovers?

As the housing market improves and market values begin to rise, properties that received reduction due to lower market values may see increases above the normal 2% to reflet the actual market value. Therefore, homeowners may experience increases in their properties’ assessed values in future years until full recovery is reached. Although these increases may be substantial, they may never exceed the property’s initial base value plus any added improvements value and a maximum 2% per year CPI inflation factor. The total of these three elements is called the "indexed value." This indexed value remains your actual taxable assessed value.

The good news is…….although assessments will increase, as the market recovers, you were able to avail yourself to temporary reductions during the economic slump. Then your property value will have increased.

Anaheim Hills Pool & View Home

481 S. BEECHTREE COURT, ANAHEIM HILLS 92808 - SOLD!

Spacious Anaheim Hills Home with Panoramic City Lights View and Sparkling Pool & Spa
2238 sqft 3 Bedroom 2.5 Bath on Quiet Cul-de-sac.
New Designer Paint, Plush New Carpeting.
3 Car Attached Garage.
Price Range $598,000 to $648,000

Beautiful Lake Forest Home with Park View

21691 Johnstone Dr, Lake Forest 92630 - SOLD!

3 Bedroom 2.5 Bath
3 Car Garage
Almost 2,100 sqft 

Popular light and open floor plan
Plush New SmartStrand Carpeting. 

New Designer Paint. 
Impressive Architecture and Vaulted Ceilings. 

Newer Front Door and Front Windows. 

White Plantation Shutters. 
Six Panel Doors throughout. 

Sunny Kitchen with Granite Counters and Granite Breakfast Bar. 

Step-down Family Room with Granite Fireplace & Fan. 

Spacious Master Suite with Walk-in Closet, 2nd Closet and Built-in Shelving. 

Master Suite Bath with Air Tub, double sink vanity and Separate Shower. 

Relax on your Spacious Master Suite Ironwood Deck with Park View. 

Indoor Laundry Room. Newer Furnace and Central Air. 

3 Car Attached Garage with Insulated Roll-up Doors. 

Great Backyard with Covered Patio, Catalina 6 person Spa, Fountain & Fruit Trees. 

Tile Roof. Walk to Park with Tennis courts and play area. 

Nearby Award Winning School. 

No Mello Roos Tax. Standard Sale! 

only $569,900

Orange County Register says some Orange County Home Sales up 30%

This is part of an article that was in the Orange County Register on February 6, 2012:
Thomas wrote: "Overall, demand, the number of new pending sales over the prior month, is up 15 percent compared to 2011 ... That's the market as a whole, though. For homes priced below $500,000, demand is up an astonishing 30 percent. That's a lot of momentum considering the housing market hasn't even hit its stride with the beginning of the Spring Market right after Super Bowl Sunday. This is more than an encouraging start to 2012; it is a real sign of a much different housing market for 2012."
Check out the OC Register real estate news:
http://www.ocregister.com/sections/business/real-estate-news/

First Team Real Estate Home Mortgage Update

Orange County #7 in 2011 Price Drop

While nationally, the median list price has been on the rise the last year, increasing 5 percent year-over-year to $188,000, according to December 2011 housing data published by Realtor.com. 

But home prices the past year haven’t been rising everywhere. For example, Detroit continues to face a plague of foreclosures that are bringing home values down in the area. The metro area had the biggest drop in median list prices the past year. 

The following are the cities with the biggest drops in median list prices year-over-year, based on December 2011 housing data of 146 metro markets tracked by Realtor.com.

1. Detroit: -11.01%
Median list price: $80,000

2. Chicago: -10%

Median list price: $189,000

3. Las Vegas: -7.62%
Median list price: $120,000

4. Sacramento, Calif.: -6.98%
Median list price: $199,900

5. Los Angeles-Long Beach, Calif.: -6.37%
Median list price: $324,900

6. Atlanta, Ga.: -6.25%
Median list price: $150,000

7. Orange County, Calif.: -5.53%
Median list price: $425,000

8. San Francisco, Calif.: -4.92%
Median list price: $599,000

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News

If the Internet Says It's True, It Must Be...

Go to websites like Zillow.com and find out what your home is worth, right? If you think so, keep reading...
Many people are not surprised that much of the information on the internet is not verified and may or may not be valid.
For some reason, many people we speak to think that home value websites like Zillow.com are accurate.
They are often surprised to find out that even Zillow will tell you in the small print on its own website that the Zestimates may not be anywhere near the actual value. In fact, Orange County is one of the most accurate areas for Zillow and still they say:
More than 56% of the time the Zestimate will not be within 5% of the actual value. That means for a $500,000 Home, 56% of the time, Zillow will NOT show a value between $475,000 to $525,000..
More than 30% of the time the Zestimate will not be within 10% of the actual value. That means for a $500,000 home, More than 30% of the time, Zillow will NOT show a value between $450,000 to $550,000.
We look at many factors that are and will always be unavailable to a computer program to guess.
Location, View, Upgrades, Market Competition and Current Neighborhood Market Trends are some of the factors we use to help home sellers price their homes and to help home buyers make an offer.
If you are thinking of buying or selling, the internet is a great place to start, then call us to find out what is really happening.

Coming Soon: Historic Fullerton Home for Sale

320 NEWELL, FULLERTON - SOLD!

Fullerton: Trustee sale, Classic Fullerton home from the 1920's.

Relaxing Front Porch, Real hardwood floors and a large yard with a detached garage.

Walk to Fullerton College. Separate Rear building with bath and kitchenette would make great in-law quarters or could possibly be rented. Call for more information 714.694.0880

Check our Sneak Peak of Listings Coming on the Market Soon Tab often to get a first look of homes that will soon be offered for sale

First Team Real Estate Home Mortgage Update

First Team Real Estate Home Mortgage Update

Real Estate Update: Orange County Estate Homes Sold 2012

These are the highest priced Estate Homes Sold in Orange County in 2012 listed by all brokers in the CRMLS. Contact us for details or real estate questions.

Real Estate Update: Orange County's Most Affordable Homes Sold 2012

These are the detached Houses sold in Orange County for the lowest prices in 2012 listed by all brokers in the CRMLS. Contact us for details about these homes or other real estate questions.

Best Places for Real Estate Investment

Money Magazine released the top cities to be a landlord, based on home prices, projected rent increase, and job growth. The top four cities to make its list are:
1. Houston
Projected rent increase in the next 3 years: 18%
Median home price: $174,000
Average monthly rent: $818
2. Grand Rapids
Projected rent increase in the next 3 years: 15%
Median home price: $128,000
Average monthly rent: $636
3. Rochester, N.Y.
Projected rent increase in the next 3 years: 25%
Median home price: $148,000
Average monthly rent: $785
4. Dallas
Projected rent increase in the next 3 years: 16%
Median home price: $166,000
Average monthly rent: $877
 Source: “Best Places to be a Landlord,” Money (December 2011)

Real Estate Return on Investment

Free Pumpkins at First Team Real Estate Pumpkin Patch

We will be giving away FREE Pumpkins at our First Team Real Estate office in Anaheim Hills. Saturday October 29. 9:00am to 1:00pm. Everyone is welcome! There will also be food and games and costume contests.

Wall Street Journal & Forbes: It’s Time to Buy A Home

The Wall Street Journal

Last week, in an article entitled It’sTime to Buy That House, the WSJ told their subscribers:

“It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment
yields are scarce, buyers should jump.”  In an article two weeks ago, MarketWatch.com (the on-line blog for WSJ) told their readers:
“Now could be the best time in history to buy a home.”

Forbes.com

In a report to their subscribers, Capital Economics reported that:
“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.”
Why is this important? Last week, Forbes explained to their readers:
“If rents simply kept up with inflation at a 3.2% annual increase, a $1,500 rent payment would cost that renter nearly $900,000 over the next 30 years. The same $1,500 payment made to their mortgage would be only $540,000 (because the payments
don’t increase with inflation).”
They went on to explain the advantages of homeownership during retirement:
“Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement…
At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference
not to mention the impact of NOT having to pay a mortgage.  How much less would you have to save for retirement if you didn’t pay the mortgage?” 

Real Estate Update: Less Homes for Sale

For-Sale Housing Inventories Shrink to New Lows

DAILY REAL ESTATE NEWS | MONDAY, OCTOBER 17, 2011

Nationwide, 2.19 million homes were listed for sale at the end of September, a drop of 20 percent compared to a year earlier, and marking the lowest level on record since REALTOR.com began tracking housing inventory data in 2007.

All 146 markets that REALTOR.com tracks saw housing inventory fall year-over-year, except for Denver and El Paso, Texas. Listings were down by 49 percent in Miami, 48 percent in Phoenix, and 46 percent in Orlando, Fla.

But while reduced inventories usually help lift prices, in the current real estate market, housing prices are staying flat or declining. That’s because demand remains soft, housing experts say. 

Real estate professionals told The Wall Street Journal that inventories are shrinking because some home sellers have decided to take their homes off the market instead of trying to sell at a steep discount. Banks are also moving more slowly at repossessing foreclosures, which has reduced the supply of foreclosed properties on the market — albeit a temporary decrease, many experts note. 

"The inventory is low, so it's hard for buyers to find their dream home," Joan Downing, a  real estate professional in the Detroit area of Bloomfield Hills, Mich., told The Wall Street Journal. "That's been our challenge more than anything: finding the inventory for the clients. Nobody's complaining about the pricing or the interest rates."

Source: “Slim Pickings Are Latest Headache for Home Sales,” The Wall Street Journal (Oct. 17, 2011)

Real Estate Loan Triggers for Rejection

Last year, more than two million people were turned down for homes, according to federal data, often because the applicants didn’t meet certain lender requirements or because their applications were incomplete or otherwise problematic.  With lenders’ underwriting criteria becoming more rigorous in recent years, it’s important buyers know the most common triggers for mortgage-loan rejection. Making sense of the story Insufficient income: Lenders want to be sure borrowers can afford to make the mortgage payments.  Lenders typically look for at least a two-year track record of income, which could hurt those who have changed jobs recently. Cloudy financial picture: Generally, total debt payments, including the mortgage, cannot exceed 45 to 50 percent of a borrower’s adjusted gross monthly income.  Overtime and bonuses are included only if the borrower has worked for the same employer at least two years, and has a history of receiving them. Poor credit: Lenders typically reject applicants with FICO scores below 620. Low appraisal: One of the predominant reasons buyers are turned down for home loans is because the appraisal on the property is too low.  A buyer may think he or she is purchasing a house worth $800,000, but if the appraisal comes in less than that, the lender will not loan the borrower the money. Property problems: Sometimes issues turn up within a house, like a major repair or safety issue that needs to be addressed, before an application can be approved. Information mix-ups: Approximately 12 percent of new mortgage applications were denied because of unverifiable information or incomplete credit applications, according to the Federal Financial Institutions Examination Council.

Fraud Alert - Vacant Home Rental Scam

Police and real estate agents are warning renters of a new scam, which has also been stretching nationwide. Scammers are posting housing ads online, such as on Craig’s List, that promote a vacant home available for rent. The unsuspecting renter pays a security deposit and sends monthly rent checks to who they believe is their landlord.
But the landlord doesn’t really own the property and is pocketing the money, police and agents warn. Scammers are targeting vacant homes and foreclosed properties in the rental scam, they say.
At times, scammers are posing as real estate professionals and putting together fake lease agreements and forging the seller’s name. They’re also changing the locks on the house so the new renters can move in.
Police are encouraging renters to work with a licensed real estate professional or property management firms to make sure they’re renting a property that is indeed for rent.

States With Rising Home Prices

Several states are posting year-over-year gains in home values, according to a newly released index for August by CoreLogic, which tracks price changes in repeat sales of homes.
According to CoreLogic, here are the states with the largest year-over-year gains in single-family home prices:

1. West Virginia: 8.6%
2. Wyoming: 3.6%
3. North Dakota: 3.5%
4. New York: 3.2%
5. Alaska: 2.2%
6. South Dakota: 1.5%

Nationally, single-family home prices were down 4.4 percent year-over-year in August, according to the index. Nevada posted the largest drop, falling 12.4 percent year-over-year.

First Team Real Estate Named "Best of Orange County"

It’s official – First Team was named the fan favorite real estate firm by you, our clients and friends, in the Orange County Register’s 2011 Best of OC readers poll!

And what better way to celebrate this honor than to launch our exciting “My Story” campaign? This innovative campaign shows why First Team was chosen number one, with inspiring stories told by our clients of the profound, positive impact in their lives our agents have made.

First Team Real Estate Mortgage Update

12 Housing Markets Seeing the Biggest Turnarounds

The National Association of Home Builders is debuting a new economic index that highlights metro areas that are seeing the most improvement in their housing markets. The First American Improving Markets Index reveals 12 metro areas that have seen a turnaround for at least six months in three core economic areas — housing permits, employment, and housing prices. Here are the 12 cities that have seen the biggest improvements, according to NAHB’s new index:

• Alexandria, La.
• Anchorage, Alaska
• Bangor, ME
• Bismarck, N.D.
• Casper, Wyo.
• Fairbanks, Alaska
• Fayetteville, N.C.
• Houma, La.
• Midland, Texas
• New Orleans, La.
• Pittsburgh, Pa.
• Waco, Texas

By REALTOR® Magazine Daily News

Spacious Anaheim Hills 4 Bedroom Home

8140 E. Kennedy Road, Anaheim Hills 92808

SOLD! Anaheim Hills Spacious 4 Bedroom 3 Bath Home.  New Paint & Flooring, Main Floor Bedroom & Bath and 3 Car Garage. Spacious Private Yard with Spa. Huge Master Suite with Hills View. Low Association Dues and Very Low Property Tax with No Mello Roos. 

First Team Real Estate Mortgage Update

Fraud Alert: FBI emails

Threatening emails purportedly from the FBI and its leadership have been making the rounds recently. The FBI does not send threatening emails to the public. It uses the legal process should it want to contact a member of the public. The FBI cautions, if you receive an unsolicited email, do not open it, click on it, nor respond.

Mortgage Rates Reach All-Time Lows Again

Ongoing economic concerns continued to push mortgage rates to new lows, as 30-year and 15-year mortgage rates took another dip, pushing home affordability even higher, Freddie Mac reports in its weekly mortgage market survey. 

30-year fixed-rate mortgages: averaged 4.15 percent this week, dropping from last week’s 4.32 percent average. The previous record low for 30-year rates was set on Nov. 11, 2010, when rates reached 4.17 percent. For comparison sake, in 2000, 30-year mortgage rates averaged more than 8 percent and just five years ago they averaged 6.5 percent.

15-year fixed-rate mortgages: averaged 3.36 percent, dropping from last week’s 3.50 percent. Last year at this time, the 15-year fixed rate averaged 3.90 percent. 

5-year adjustable-rate mortgages: averaged 3.08 percent, dropping from last week’s 3.13 percent. Last year at this time, the 5-year ARM averaged 3.56 percent. 

1-year ARM: averaged 2.86 percent this week, dropping from last week’s 2.89 percent. A year ago, the 1-year ARM averaged 3.53 percent. 

Long Beach Single Story Designer Beauty

 Beautiful, highly upgraded & remodeled home in great area near El Dorado Park. New Designer Paint Throughout. French Doors & Windows. Great Curb Appeal with Enclosed Front Flagstone Patio that leads to Beautiful Front Door. Living Room with Refinished Hardwood Floors, Fireplace & Wall of Windows overlooking Yard. Newly Remodeled Kitchen with Granite Counters & Breakfast Bar, Travertine Backsplash with Inlays, Refinished Cabinets, Stainless Sink and Appliances, New Fixtures & Lighting & New Tile Floors. Kitchen opens to Dramatic Dining Area with Vaulted Ceiling, skylights & Fireplace that can also be used as Family Room. Spacious Master Suite with 2 Closets, Crown Molding, Fan, Designer Paint, Window Seat & Master Bath with Dual Sink Vanity & Jet Tub. Bedroom 2 has Shutters, Bedroom 3 used as Den and has back yard entry door. Office Nook off Living Room. Covered Rear Patio & Roomy Private Back Yard. Central Air & Newer Furnace. Auto Sprinklers & Yard Lighting. Built-in Garage Cabinets. Only $498,750

ForSalebyOwner.com Founder Uses Agent

ForSalebyOwner.com Founder Uses Agent to Sell Home

DAILY REAL ESTATE NEWS | TUESDAY, AUGUST 09, 2011

The founder of a popular for-sale by owner Web site used a real estate broker to help sell his 2,000-square-foot, two-bedroom New York apartment after it lingered on the market for six months. Colby Sambrotto, the founder and former chief operating officer of ForSalebyOwner.com, tried to sell the property himself by listing it online and through classified ads, but after six months of it sitting on the market, he sought the help of a real estate broker.

Broker Jesse Buckler told Sambrotto the condo was priced too low and wasn’t attracting the right buyer for the condo. 

"At first he wouldn't let me increase the price," Buckler said. "I told him I know what I am doing—the market is picking up."

The condo soon attracted multiple offers and ended up closing recently for $150,000 more than the original asking price. 

Source: “DIY Guru Gets Broker Help,” The Wall Street Journal (Aug. 3, 2011)