Experience You Can Trust

Ron Buck, Realtor®, Says “Short Sales Are Getting Easier.”

Ron Buck, Realtor®, Says “Short Sales Are Getting Easier.”

First, just a refresher – what is a short sale? Again the only thing “short” is the payoff on the loan. You may not know that in some cases clients who are completely current successfully short sale, usually because they must move for job or family reasons and their home is underwater. In these cases there is minimal impact to credit. Ron Buck would like to tell you about a new type of short sale which is a pre-approved short sale. In these cases both the owner and the price are pre-approved by the bank before the property hits the market. These are almost guaranteed to close successfully and are a welcome change. In Laguna Niguel at this moment there are 72 active listings under $750K and only 11 of them are short sales. There are 198 listings in backup or pending status under $750k right now and 125 of those are short sales. This shows the pain of previous short sales. There are only 5 bank-owned properties in escrow now under $750K. This is crazy: there is ONLY ONE bank-owned ACTIVE listing currently on the market under $750K in Laguna Niguel. Some experts believe we will see more foreclosures and short sales after the election. One particular bank will routinely foreclose if the short sale is not closed a full two weeks before the trustee sale date. The real estate market is changing every day. Ron Buck, Realtor® checks inventory to stay on top of every price range. Ron Buck “feels the pain” of first-time buyers wanting to get in on the great interest rates. (Ron Buck, Laguna...

Baby Boomers and Real Estate

One of Ron Buck’s clients is closing this week on a single story end unit town home in Dana Point. Do you realize there are only FOUR homes or condos under $500,000 for sale in all of Dana Point? The very cheapest condo in Dana Point today is $369,000 and it might be gone before this blog posts. If you want to buy a detached home in Dana Point under $900K you have a whopping twenty to look at. If you want a home with a downstairs bedroom of any kind you can see them all in an hour. Living and working as a Realtor® in the beach areas is not a bad gig. Ron Buck runs into lots of out-of-area and local people who are looking for second homes or retirement homes. Most are baby boomers of course and one of the things most-often requested is a main floor master bedroom or a main floor bedroom. That is doable and relatively easy to find if you’re willing to buy something built in the 60s and 70s. If you add in that you want something newer than the 80s, good luck. If you want one that has been completely refurbished, the wait could be lengthy. One of Ron Buck’s favorite neighborhoods with large one-story homes and ocean views is Monarch Beach Terraces which is right at the junction of Crown Valley and PCH on the east side of PCH. Of course the price is up there Ron Buck, Realtor® has noticed that the one-story homes in the Niguel Hills area of Laguna Niguel have been a hot commodity this...