Lowest Price Home in SW San Clemente: $599,000

We haven't seen prices this low in a long time! The Southwest part of San Clemente is the most desirable part of San Clemente by the beach. All of the homes are custom and have a very quick and easy walk down to the beach. I sold the house next door 2 months back for $650,000 so this is a good deal. Give me a call at (949) 291-0424 or sam@bclh.com for more information about this property. Property photo courtesy of Prudential CA Realty.

Just Listed: 169 Avenida Junipero, San Clemente, CA - $1,299,000

Just Listed in the Highly Desirable Southwest San Clemete Area! Here is a brief description from the listing agent:
"HUGE PARK-LIKE BACKYARD! WALK TO BEACH! OCEAN VIEWS! UNIQUELY REMODELED! ROOFTOP DECK! Words Cannot Describe This Fabulous Home That Has Been Remodeled And Improved. The Owner/Architect Took A Small 800sq.ft. House And Created A 2300sq.ft. Masterpiece. Travertine Floors, Distressed Hardwood, Onyx Backsplash, Glass Pebble Tubs, Roof Top Deck, Artist Studio At Back Of Property...The List Goes On. Before You Buy...Be Sure To See This Property. Don't Miss The Cute Artist Studio At The End Of The Property Next To The Little Stream And Bench. The Lower Level Is Separate From The House And Is Plumbed For A Bathroom. Currently, It's A Game Room...But Could Be A Third Room. The Master Suite Has Ocean Views And Is Perched Within Huge Trees And Palms. The Picture Windows Create A Feeling Of Living In The Tropics. Climb The Staircase To The Rooftop Deck And Watch The Sun Set Behind Catalina Island. The Seller Is Motivated And Will Look At All Offers." Please Contact Sherry Bauer at Beach Cities Luxury Homes at 949-212-8911 for more info on this home!

President Bush Buys New Home in Dallas, TX

It has been reported that this property is currently under contract from President Bush and this is where he plans to retire. Click Here to see the full listing detail.

Just Sold - 11 Via Cartama, San Clemente, CA - $972,000

Just Sold! Owner had bought the property for $1,625,000 in 2006 and was sold as a short sale for $972,000. We are the short sale specialists and can get your home sold. If you need to sell, contact our office at 949.444.1901 for a free consultation on your property. Details on this home can be found at LuxuryRealEstate.com

Forster Mansion Exclusive Events: (949) 661-6676

The Forster Mansion is now the premier place to have your special event.

The Forster Mansion is conveniently located in San Juan Capistrano on Ortega Highway near the I-5 freeway - less than 30 minutes away from all of Orange County-

The Forster mansion is Orange County’s "new" preeminent venue for exclusive events. This private and gated indoor and outdoor venue can accommodate up to 400 guests for a private event.

The Forster Mansion is a National Historic Landmark, and a distinctly recognizable and proud structure located just over the freeway from the San Juan Capistrano Mission. It is a magnificent example of early California Mission Revival architecture. The garden transports you back to slower times. A wall in the garden is part of the original San Juan Capistrano Mission that Frank Forster owned. A magnificent Pine Tree frames and shades the Mission Wall and is recorded as the oldest Pine Tree in Southern California. They are protected, as is the entire Forster Mansion, as a National Historic Landmark.

The property is zoned A1 Commercial. In addition to weddings and receptions, our staff of professionals exceeds the expectations for Bnai Mitzvot, Corporate and Charity Events, Parties, Showers, Luncheons, all with attention to detail to make your celebration unique and elegant. Enrich your celebration by allowing staff at The Forster Mansion to bring your dream event perfectly to life.

Please contact them at (949) 661-6676 today.

Interest Rates Have Fallen Precipitously! Look at the Jumbo Rates as Well

So what happened? The Federal Reserve Board keeps saying the economy won't be able to fully recover unless financial markets resume moral functioning. The U.S. economy is under considerable stress and has downshifted further after the financial crisis of September. Interest rates though had continued to remain flat the last several months even with all of the dire news.

What happened is the Feds announced plans last week to buy up to $100 billion in agency debt from Fannie Mae and Freddie Mac, and to buy up to $500 billion in mortgage-backed securities.

Eventually, once this crisis has passed, the Fed will have to shrink its balance sheet by selling back the private-sector assets it has accumulated. But that is an issue for the future. For now, the goal of the policy makes must be to support financial markets and the economy. Courtesy of Kevin Budde of Countrywide Financial Services.

Just Listed: 221 W Avenida Cordoba, San Clemente, CA - $1,149,000

Just Listed: Large Two Story Home Just Steps Down To The Beach. Aspen Style Inspired Home with Seperate Guest House In The Back Ideal For Mother-In-Law Quarters. Property Features Large Open Wood Beam Ceilings With Peek Ocean Views from Upstairs Front Deck. The Property Is Completely Fenced In For Dogs & Children To Play. This Is One Of The Best Streets In Southwest San Clemente with Stunning Views Of The Ocean As You Come Down The Street. The Majority of Homes on This Street Are Large Two Story Custom Beach Homes With Great Curb Appeal. No Homeowners Fees & Ocean Side of PCH! See the posting at the Wall Street Journal's Real Estate Section and LuxuryRealEstate.com featured home.

Just Listed: 33642 Sea Point Drive, Dana Point, CA - $895,000

Just Listed: Luxurious Single Family Home in the Exclusive Gated Community of Waterford Pointe just a half mile to the beach! Beautiful Panoramic Views of the San Juan Valley & Coastline Ocean Views from your large view deck. Very Open Floor plan with beautiful hardwood flooring, custom travertine stone fireplace & floor to ceiling windows, surround sound audio with custom wall Plasma TV (included!). Kitchen is tastefully done with granite countertops, recessed lighting, and stainless steel appliances. The home features a main floor bedroom & bath with pull down murphy bed for maximum space utilization. Downstairs features two bedrooms with a large Master Suite with direct access to backyard. Master Bath features both Jacuzzi Tub & Shower and His & Her closets. Front & back decks have been installed with high quality Trex material. Waterford Pointe is a highly desirable neighborhood due to its proximity to beach & great ocean views and features a large pool, spa & tennis. Featured on Wall Street Journal's Real Estate Page and LuxuryRealEstate.com. Contact Sam Smith at 949-444-1901 to view this great home.

Interest Rates Drop 1/2% Down To 5.25% for 30 Year Fixed Loan!

What a great day for rates. We finally got what we have been looking for which is the government coming out and saying that they are supporting the mortgage market directly. They are doing this by putting out 600 billion dollars to purchase Fannie/Freddie/Ginnie Mae bonds. The impact was immediate. 30yr fixed conforming is at 5.25% 30yr fixed and FHA traditional 30yr fixed at 5.5%. This is a .5% drop from yesterday.

Cotton Point Estate - San Clemente - $15,000,000

"Stunning brand new construction in Cotton Point Estates--home of the Western White House!!! Spectacular ocean view estate situated on a 39,000 (approx.) sq.ft. parcel. This property is fit for royalty. Designed by respected local architect David York, this San Clemente Spanish Revival home features a formal reception room, 32-seat dedicated theatre plus lobby, spa with custom sauna, steam room, roman tub and rain showers. Six stunning bedrooms each with an en-suite bath. The property also includes a guest residence w/ a full kitchen, great room, laundry room, bedroom and bath. Other features: double offices, a full gym, recreation room, library and art/crafts/music room. The amazing grounds offer a resort quality negative edge pool with a sunken bridge, spa and palm islands, a large sports court, cabanas, fire pit, and fountains. Breath-taking ocean views from many rooms. Outstanding fixtures & finishes from Morocco and around the world". Listing text & photos courtesy of Keller William Realty.

High-end Real Estate Requires Marketing Touch

This Is A Great Article from Sunday's Daily Herald. "In today's market, it is actually easier to sell a $3 million home than to sell a $1 million home, according to two local luxury home experts.
"Sales in that top bracket are actually much more stable than those in the $1 million to $1.5 million category," said Carol Best of Keller Williams Success Realty in Barrington.
"In fact, until just recently, sales in the luxury market were quite strong, and going forward we hope that these buyers will go back to investing in real estate since the stock market has become so unstable," added Valerie Zelinski of Century 21 Roberts & Andrews in Crystal Lake.
According to Best and Zelinski, when you are selling a luxury home to top-tier clients, you are selling a lifestyle more than you are selling a home.
"Instead of looking at a house and asking yourself as an agent, 'What does this house have to offer,' you have to figure out who the buyer of this property will probably be, and target them in your marketing," Zelinski said.
Best and Zelinski are part of a rare breed in the Chicago area market. They are members of the Institute for Luxury Home Marketing, and while Best has earned the organization's coveted certified luxury home marketing specialist designation, Zelinski is still working on hers.
The institute is an independent organization that is not tied to any specific real estate brand, so membership is open to agents from all firms.
"Today's affluent are citizens of the world and the successful luxury agent must know how to reach them and what lifestyles they are seeking," said Laurie Moore-Moore, founder of the institute and author of "Rich Buyer, Rich Seller: The Real Estate Agents' Guide to Marketing Luxury Homes."
Among our affluent citizens, Best and Zelinski said, there are various distinct lifestyles and personality types that institute members are taught to recognize.
"There are the unmistakably affluent people like Donald Trump and Paris Hilton," Best said. "They have an annual income anywhere from $300,000 to $6 million per year and they are the ones who will want their home to have an exclusive design that suits their personality. They want to know what the home says about them."
Then, Best said, there are people who, like Oprah Winfrey, are called the "dependably affluent" people. They want their home to reflect true craftsmanship and want everything in the home to be functional and have a direct benefit.
Another category is the "economically affluent" people like Alan Greenspan and Suze Orman. According to Best, this type of client wants their home to have great value, but they want to be quiet about it.
Other affluent people want to be totally anonymous in their wealth - like Katharine Hepburn. She wanted a home that made her happy, but didn't want anyone else to know about it.
Wealthy people like Martha Stewart and Ralph Lauren crave a home that is unique and makes them feel good, but they don't want it to scream affluence. They want it to be tasteful, above all, Best said.
Finally, there are the Warren Buffets of the world who want a quality home that suits his needs but is understated.
"Warren Buffett has lived in the same house for 40 years and is perfectly happy," Best said. "That is something that people who spend hundreds of dollars at Starbucks every year can't begin to understand."
"When I take a listing, I have to profile the type of buyer who I think will buy the property," Best explained.
The more seasoned agent of the two, Best has been in the local real estate business since 1992 when she left Federated Department Stores' commercial real estate department after helping to purchase the land and build countless Main Street stores that are now Kohl's.
She heard about the Institute for Luxury Home Marketing at a National Association of Realtors convention and took the training in Dallas with other top agents from around the world in early 2006.
Zelinski, on the other hand, got into real estate 2 years ago and immediately decided to specialize in luxury homes. She read about the institute on the Internet and took the training in Tampa, Fla., this past summer.
"With your marketing you have to go out and grab a buyer and bring him or her to that property," Zelinski said. "You cannot just list this kind of property on the MLS (Multiple Listing Service) and expect someone to buy it."
Members of the Institute for Luxury Home Marketing know they need to invest in expensive Internet and other forms of advertising that will allow word about their listing to reach a national and even international audience.
They are also taught how to assess the actual number of potential buyers in a given market and how to price a property to maximize the buyer pool, Best, a certified residential specialist, said.
"Agents and sellers out there are just randomly picking listing prices. But there is a science to it, depending on your time frame," she continued. "I have done a major study of MLS listings and it taught me a lot about this market."
That has also given her the confidence to be frank with potential sellers about what they need to do to sell their property and refuse the listing if they do not seem willing to follow her advice.
"I have learned to let other agents spend their time and money on it," she said.
Best and Zelinski make sure they network with other luxury home specialists around the world and refer buyers and property back and forth.
"It definitely helps to reach out to other luxury home experts because you never know when they might have a buyer for one of your properties," Zelinski said.
"There is definitely a higher risk with spending the money to market these properties, but there is also a higher payout at the end," she continued.
Zelinski currently has listings in Wisconsin for a historic 21-room lakefront mansion in Sheboygan and for an island in Door County. The Sheboygan home is listed for $3.75 million and the island is priced at $3 million.
"They sought me out after seeing my marketing because they assume that their buyer will come from the Chicago area," Zelinski said.

If you are looking to sell your Luxury Home, please contact Sam Smith of Beach Cities Luxury Homes for unique selling ideas & pricing at (949) 291-0424 or email sam@bclh.com

Make The Recession Work For You!

Champions Love Recessions, Companies that out marketed and outsold their competition during slow times emerge from the recession with increased market shares and better long term profitability.

Studies in September 2008 by the Marketing Planning Institute, Mc Grawhill and Nielsen show that Marketing Investments are more critical in gaining market share during the downturn rather than when business is good. A Mercer company study shows 802 of the top 1000 companies that cut cost on marketing during a downturn couldn't turn profitable for 5 consecutive years after the recession

Here are the 3 ways you can Grow Market Share while others are loosing

1) Marketing Champions attack the market place in a downturn. They Carefully spend marketing dollars on online or email marketing activities where cost of customer acquisition is much lower. During tough times, Marketing Champions deploy counter intuitive strategies to Gain new customers and expand to global markets and expand market share. Pushing off new campaigns or Reducing Marketing is a sure shot way to ride your business to the bottom of the Totem pole. This is the time to make the investment in to Growth while most others are cutting costs.

2) Multi channel marketing solutions including email and online promotions help bring superior ROI at reduced marketing expense. Invest in Web projects to cut administrative and direct mail or telemarketing costs and take products to market faster.

3) Customers have more time now than ever to meet Sales Executives and discuss long term propositions. Some of them might be planning initiatives to develop and launch new products and you could get through to them at the right starting point. Target customers of competitors and particularly those of competitors who have pulled back and reduced their visibility. You can have Top Sales Managers call up top clients and add extra contacts to your clients to expand business within your client base.

Play Hardball, Be Relentless, Lot of Business is up for Grabs, Grab It! The Playing field is less crowded. Many of the competitors take a Survival approach in a Recession. You should take the Trivial approach instead of succumbing to Recessionary Pressures.

Welcome the Recession and Get to work on Grabbing Market share now!!

The Government Plan Will Work

Accoding to Kevin Budde, Assistant Vice-President of Countrywide, The government's steps will help the economy. They are pumping liquidity into the credit markets, keeping the businesses' doors open allowing them to make payrolls and setting a floor under housing. It seems it can't happen fast enough for the scared buyers.

Here's how I expect the situation to unfold. In a few weeks the Treasury's plan will start up. The government will begin buying up the bank's toxic debt, getting it off their books. The debt will be sold later hopefully at a profit paying back some of the national debt.

By Thanksgiving it will be clear how it's working. This process is known as reverse auctions. If these reverse auctions aren't enough to get the banks lending again, the Treasury will implement their second phase of buying bank's shares to provide the liquidity needed to keep the wheels turning.

By year-end, the credit markets should be functioning better. Commercial paper will be moving again. Long-term lending, corporate bonds will start picking up. It will take more months to return to normal however. The measures taken by the Federal Reserve, Treasury Department and central bankers around the world will avoid the feared major economic downturn.

The New York Times ran an article this morning with an interview of Warren Buffet. Mr. Buffet said he has begun buying U.S. stocks in his personal account which prior to yesterday did not contain stocks, only bonds. He stated he has a minimum one year window time frame. The record shows Mr. Buffet has only stated this previously twice since 1972 and he was 3 to 6 months early. His philosophy is sell when everyone is greedy and buy when everyone is fearful.

The fourth quarter of this year and the first quarter of next year will remain difficult times for both the stock market and the housing industry. However, in January the lending process will be showing the steps being taken now are working and come Spring of 2009 sales of existing homes will begin a steady and consistent increase in volume as the fear diminishes. It can't seem to happen fast enough with what we have been through and are currently experiencing. January will begin my 34th year in the mortgage lending industry.

There is a light at the end of the tunnel and I am anticipating many good years to come. I wanted to share a little insight. I hope it help clarify things. Thank you. Kevin Kevin BuddeAssistant Vice-PresidentPrivate Client GroupCountrywide Bank, FSB

11 Via Cartama - Bank Approval at $1,029,000!!

We have formal bank approval for this short sale at $1,029,000. The is located at the end of a cul-de-sac in one of Talega's most upscale neighborhoods! Call Sam Smith at 949-444-1901 for more details on this home. More photos can be seen on our website: http://www.bclh.com/ or LuxuryRealEstate.com

Smart Moves to Make After the Fed Decision

The Federal Open Market Committee, or FOMC, surprised us with by cutting the federal funds rate by 50 basis points after leaving it unchanged at the last three meetings. So what moves should you make with your mortgages, home equity, auto loans, CDs and money market accounts, and credit cards?
Mortgages:
Keeping track of the recent ups and downs of the U.S. financial system is enough to give homeowners and others a nasty case of whiplash. America's biggest financial institutions are struggling; hence, the great volatility in the stock market," says Bob Walters, chief economist at Quicken Loans.
All this financial tumult prompted the Federal Reserve to act with an emergency 50 basis-point reduction in the target federal funds rate Oct. 8. The announcement was a surprise, as it came in advance of the Fed's next scheduled meeting Oct. 28 and Oct. 29.
However, the rate cut itself is unlikely to impact mortgage rates significantly, as cuts in the federal funds rate do not directly affect mortgage rates.
This is especially true of fixed-rate mortgages. While it's true that such mortgages sometimes decline in the wake of a Fed rate cut, they are just as likely to rise.

By contrast, adjustable-rate mortgages can be a bit more sensitive to Federal Reserve rate decisions. Many ARMs are pegged to the London Interbank Offered Rate, more commonly known as LIBOR. LIBOR rates usually closely track the federal funds rate. So reductions in the federal funds rate often result in lower payments for homeowners with ARMs. This is one reason why people traditionally have forsaken the safety and security of a fixed-rate mortgage for the greater volatility of an ARM. Good candidates for ARMs typically include people who live in their homes now, but soon expect to move -- such as retirees considering relocation, empty-nesters thinking about downsizing and workers in temporary job assignments who expect to move soon.

Adjustable-rate mortgages also may make sense for somebody who has "a lot of money in the bank and a pretty secure job and (who) isn't afraid to take on the uncertainty that his rate and payment could change in the future as a tradeoff for a lower rate and payment today," Walters says. However, today's economic turmoil has made ARMs a bit less attractive than normal. The spread between LIBOR and the federal funds rate has become uncharacteristically wide, meaning many people with ARMs will not see their mortgage costs fall as they typically would after a Fed rate cut.

In addition, the spread between ARMs and fixed-rate mortgages has been paper thin, negating the major traditional cost advantage of choosing an ARM. For now, homeowners will have to weigh the risks and benefits of choosing an ARM and decide for themselves which option is best.

Take-Away:

After leaving rates unchanged for several months, the Federal Reserve surprised many observers by cutting the target federal funds rate by 50 basis points. The move is thought to be a reaction to recent turmoil in the world's financial markets. The central bank's rate cut will not have a direct impact on mortgage rates. Rates may fall, but they could just as easily rise.

Home Equity:

A lower federal funds rate is good news for borrowers who use home equity lines of credit. Rates on HELOCs typically are tied to the prime rate, which moves in tandem with the federal funds rate. So, if you need to borrow money, a HELOC may be your best option. Not only is the cost of borrowing now cheaper, but the interest associated with this type of borrowing is tax-deductible. However, homeowners would be wise to borrow carefully. All signs point to coming economic hard times, and any type of debt can be toxic in such circumstances.

Bob Walters, chief economist at Quicken Loans, counsels American consumers hoping for a quick rebound of the financial system to be patient. "I don't think there is going to be some kind of a silver bullet," he says. "Some of this is just going to flat out take time."

Take-Away:

The Federal Reserve cut interest rates after leaving them unchanged for months. That means borrowing costs on home equity lines of credit -- which move in tandem with changes in the federal funds rate -- should fall. The uncertainty surrounding the fate of the financial system -- and the U.S. economy -- means Fed rate hikes are exceedingly unlikely in the near future.
For this reason, HELOC borrowers should expect costs to remain low for some time.

Meanwhile, changes in the federal funds rate do not directly impact existing home equity loan rates (which remain fixed) or rates on new loans. However, these rates have been climbing in recent months and may continue to do so.

Auto Loans:

Shopping for an auto loan is the same no matter what the Fed does. To get the best deal, show up with a very good credit score and shop around. Randy Ellsperman, chief financial officer at FirstAgain.com, an Internet-based lender, suggests checking online before going to the brick-and-mortar banks.

Though slightly self-serving, it's good advice no matter which online lender you decide to visit. The applications are quick and offer an almost instant answer for borrowers. "Determine what your options are. Don't just go to one bank, don't just go to the dealership and take their interest rate," says Ellsperman.

"You would be forearmed to know what your options are, and a lot of companies will approve you prior to completing the auto transaction, so then you have at least one benchmark," he says.
Online or otherwise, an excellent credit score will net the best loan but a hefty down payment will also help. Buyers with less than perfect credit reports will almost definitely need to put down a significant down payment.

Take-Away:

Just like getting pre-qualified for a mortgage, shopping first for the loan will allow buyers to get an idea of the rates available to them as well as the amount of money a lender is willing to offer.
"The whole auto purchase is an exciting and emotional process. It's going to be one of the largest purchases someone makes," says Mike Celuch, chief financial officer of Paragon Federal Credit Union in New Jersey.

"That's why it's better to take time to know what rate they can qualify for and how much they can actually afford before they get too excited or emotional. At the dealer they will be a lot more comfortable making the purchasing decision on that car," he says.

Copyrighted, Bankrate.com. All rights reserved.

Senate Approves Plan To Help Stabilize Nation's Financial Markets

The Senate last night approved a revised version of the Emergency Economic Stabilization Act of 2008 in a 74 to 25 vote, clearing the way for full consideration by the U.S. House of Representatives. The House voted down an earlier version of the plan on Monday.The revised plan, which is designed to shore up the nation's financial markets, includes a temporary one-year increase in Federal Deposit Insurance Corp. (FDIC) caps for bank and credit union accounts. The cap increases are critical because they increase the funding backstop the public relies upon should their banks fail. The plan also includes extensions on several business tax breaks and adjustments to the alternative minimum tax (AMT) for individual taxpayers. These, as well as the FDIC cap changes, are amendments lawmakers believe will help bolster a smooth approval by the House.

5 Tips for Selecting The Right Luxury Real Estate Agent

5 Tips for Selecting the Right Luxury Real Estate Agent

You've made the decision to buy or sell a luxury home, and now it's time to select the real estate professional who can best assist you. Not all good agents operate effectively in the upper-tier market. It is a market segment that requires special competencies. Here are some general guidelines for choosing an agent to help you in the upper-tier residential marketplace:

1. Look for market knowledge and real estate skills. Not only should your agent know the city or area you are interested in, he or she should be knowledgeable about the price range you've targeted. A luxury home expert should be able to discuss the amount of inventory available, the average number of days a property is on the market before going under contract, the number of sales in the last 90 days, and the list to sales price ratio, all by price range. The more knowledgeable the agent is about the upper-tier market, the more valuable he or she can be as a resource for you. When you schedule your first meeting with a prospective agent, let the agent know you want an overview of the market conditions based on price range. A solid track record of success is also a clear indicator of market savvy. Don't choose an agent based on country club membership, the kind of car he or she drives, or similar criteria. Do choose your agent based on the answer to the question, "Does this agent have the skills and resources necessary to help me accomplish my real estate goals?"

2. Notice special luxury affiliations and designations and ask what they mean. To zero in on professionals who specialize in the fine homes and estates market, look at an agent's memberships and designations. Some agents are members of organizations specific to the luxury market such as The Institute for Luxury Home Marketing, which awards an international designation (Certified Luxury Home Marketing Specialist or "CLHMS") to agents who meet education requirements and have a track record of success. Some real estate companies offer special recognition to their associates who work successfully in the luxury market. Some firms have special luxury marketing programs available to their agents. All these memberships, affiliations and credentials add credibility.

3. If you are selling, ask that the listing presentation include a specific marketing plan for your property. Don't assume that the best marketing plan is always the most expensive. Listen to why the agent has included each element of the plan. Be sure that your home will be promoted Online as well as in more traditional ways. If the home is very expensive or the buyer is likely to come from outside the area, a luxury home magazine may be an important part of the plan. Recognize that the marketing plan in a fast-moving sellers' market will differ from the plan to be implemented in a slower buyers' market. Your agent should outline his or her proposed plan and explain it. Look at the quality of the marketing pieces the agent has used in the past as part of your evaluation process. Some agents will have access to special luxury home marketing systems with special marketing pieces that add value to their toolkit.

4. If you are selling, don't let an agent "buy" your business. Choosing an agent based on the highest suggested list price is counterproductive if the house is overpriced. The agent doesn't set the price-the marketplace does. If your home goes on the market as an overpriced listing, agents and their prospects will quickly move on to other properties that offer more value relative to cost. Will they come back if the price goes down? In many cases, no.

5. Rapport and clear communication are important. Buying and selling can be stressful. Choosing an agent with whom you communicate clearly will help simplify the process. Be sure he or she understands your needs and expectations and that you understand the process and the agent's expectations of you. In short, specialized knowledge + quality tools + clear communication = an agent who can deliver the results you want in the luxury home arena.

Ocean View House - Short Sale Approval in 30 Days! - Listed at $699,000

This property is in the final stages of the short sale approval. The 1st Trust Deed holder, Countrywide, has recieved all documents and is reviewing the short sale and will have final word in 30 days or less. If you are looking for a fantastic ocean view home with ocean views from both the first & second levels of the house than this is it! Located in the gaurd gated community of Marblehead, you won't find a better buy than this property. It features 3 bedrooms, 2 baths & approx. 1900 square feet of living space. Call us at 949-444-1901 for more information on this home.

Bank Owned Property: Reserve South Community of San Clemente - $814,000

A Bank Owned Property Has Hit the Market is the Reserve South community of San Clemente.!!! Reserve South is a gated community on the Northeast side of San Clemente. These are newer homes with great open floorplans, this one has a main floor bedroom and bath. The Kitchen features dark cabinetry & granite counters & Buit in entertainment cabinets in the Family Room. If you haven't been inside this association then it's worth a look. The association features a clubhouse with pool, spa and huge grass area for kids & dogs to play. Call 949-444-1901 for more information on this property. Listing text & photo courtesy of Regency Real Estate Brokers.

Lowest Price Single Family Home in San Clemente - $359,000

The lowest price home in San Clemente has just hit the market! It is a historical 3 bedroom home on the north side of San Clemente. The property does need work but has lot of potential & huge tax savings since it's on the historical Mills Act list that gives huge tax discounts for owners of historical homes. Great Buy for San Clemente. Email sam@bclh.com for more information on this home or call 949-444-1901.

Just Reduced: Beach Front Property! $10,500,000

Oversized beachfront lot on exclusive Beach Road in Capistrano Beach, this home exudes that true 'toes in the sand' ambiance - with a white sand beach at your feet & forever views of ocean & endless coastline from nearly every room. The region's most noted designers & builders have created a 5 bedroom, 5.5 bath work of art, using beautiful custom finishes, exotic imported materials, artisan craftsmanship, advanced technology, building & engineering techniques. Breathtaking contemporary residence befitting its unparalleled location & offering elegant coastal living. Spacious, light-filled rooms open through disappearing walls of glass onto expansive beachfront terraces - the best of indoor/outdoor living & entertaining in all seasons. Highlights include: gourmet kitchen, state-of-the-art theater, oceanfront master suite with office & spa bath, generously-sized & luxuriously appointed guest suites, large rooftop view terrace, & finished 3-car garage (parking for a total of 8 cars). Listed for a simple $10,500,000. Listing courtesy of Coldwell Banker Previews

Bank Owned Property: Southwest San Clemente

Did your real estate agent tell you about this deal that hit over the weekend? Are you ready? 3 blocks to the beach in the most desirable part of San Clemente (Southwest San Clemente). 4800 square feet, 4 bedrooms, 6 baths, 7, yes a 7 car garage!! Oh, and an ocean view as well! Asking price.......$1,000,000 even! If you are not familiar with short sales give me a call 949-444-1901

Interested in viewing this property? It's easy: Call me at 949-444-1901 and I will get you in right away. Hurry, deals like this go fast!!!!!!

Historic Doheny Mansion in Dana Point For Sale: Built in 1929 - $2,995,000

Historic Doheny Mansion is now for sale for $2,995,000. The property was built in 1929 for Edward Doheny and has kept a lot of the original features from the early 1920's. It's one of the largest historical homes in the area with an approx. 4900 square feet of living space: 4 bedrooms & 6 baths. The property sits on a large 11,000+ square foot lot and has a detached 2 car garage. This is a rare find to have one of the largest historical properties available for sale. Property is shown by appointment only so please call our office at 949-444-1901 to set up a showing.

New Advertising Partner: Wall Street Journal Online

Beach Cities Luxury Homes listings will now be featured on the real estate section of the Wall Street Journal. With the current value of the American dollar, we see more & more foreign investors coming into this marketplace. Currently, Beach Cities Luxury Homes Listings are featured on our affiliate site, http://www.luxuryrealestate.com/, the #1 viewed website for buyers looking for Luxury properties. Now, we have added another great website to reach International buyers, http://online.wsj.com/real-estate. If you are interested in getting global exposure for your property, please contact Beach Cities Luxury Homes at (949) 444-1901 or email at info@bclh.com

San Clemente Real Estate Data Report

Current Data from May 2007 to July 2008 for the number of homes for sale, sold & pending. We had a spike in January & April and we should to see another spike in September as people rush to buy homes as the new school years starts

New Real Estate Section in Craigslist

Casual users of Craigslist may not have noticed a change last week to the Real Estate for Sale section. Recently, my bookmark for that section suddenly started showing fewer and fewer listings.
Around August 4, it appears the ‘real estate for sale’ category was split into ‘for sale by broker‘ and ‘for sale by owner‘ buckets.

It's still one of the most popular sites to find real estate for rent & for sale. We have even helped clients who are selling furniture items in their home for sale by uploading them to Craig's list and It worked out great!

There were complaints about the previous real estate for sale section, like, “Why do brokers put their listings here (multiple times), when there is already an MLS?” The new categorization solves that issue if you just want to see owner listings. But when I looked in the ‘by owner’ section today, it seemed rife with spam, foreclosure ‘help’ ads, and other money schemes. Some policing will be needed.

With the split, is Craigslist prepping to charge California brokers to advertise their listings like they do in NYC? We shall see.

Million Dollar Listing: Bravo TV's New Show

I was intervied by Bravo TV for the 2nd season & I'm glad I didn't get the job. My hair needs to stand up more!

Capistrano Shores Residents Buy The Land On The Beach Front Mobile Home Park Here In San Clemente - Property Values Expected to Increase Dramatically!

As reported in the OC Register, The largest beachfront parcel in San Clemente has new owners: Its residents. The Park was purchased from Amherst College for about $100 million, Realtor estimates, to the current property owners.
Capistrano Shores, a 90-unit mobile home park in North Beach, was purchased Jan. 25 from Massachusetts-based Amherst College, said Mark Howlett, president of the park's homeowners association. Howlett is a resident of San Juan Capistrano, but has owned a cottage in the park for a year and a half. He added that 97 percent of the park's cottages are secondary homes.
The oceanfront park stretches over seven-tenths of a mile, and Howlett estimated the post sale transaction value of the cottages to be $2.5 million per lot.
The purchase price and terms of sale could not be disclosed. Local Realtor Mike Cotter estimated the sale to be roughly more than $100 million.
"It's a really sweet deal for the residents there," Cotter said. "It's definitely the largest transaction lately in San Clemente."
The land was donated to the college in 2006 by alumnus Roger Holden, said Amherst spokesperson Caroline Hanna. Howlett said they've been working on the sale for 17 months. They wanted to secure the land for themselves and future generations, he said.
"Everyone found a way to do it," Howlett said. "In that the transaction took 17 months to complete, all residents were provided adequate time to provide financing for their homes."
He said residents were elated to finally control their own ocean cottages, and described the sale as a "team effort" and win-win situation for both homeowners and Amherst College.
"We are very pleased that the sale of the land – a gift from a generous Amherst alumnus – has enabled this group of dedicated homeowners to now also become landowners and remain on such a beautiful piece of property," said Amherst treasurer Peter J. Shea.
Howlett added that residents are pleased with the developments proposed for North Beach over the next several years, which they believe will enhance their property values.

Pre-Foreclosure Sale: 116 E Avenida Cornelio - $785,000

Looking for a Deal? Need a large 2200+ square foot house with an ocean view? Great Location Just A short walk to the beach. 116 E Avenida Cornelio has been approved by WAMU for an Unbelievable Price for A Large 2200+ Square Foot House with an Ocean View!!! House is approved for short sale at $785,000. The house next door is listed for over $1.2 million! The home feautres Large Spacious Rooms with Large Landscaped Backyard, 2 Car Garage & Ocean View Master Bedroom with Ocean View Deck. Close to Beach & Shops. Hurry On This One!!! The property goes into foreclosure next week! Contact Sam Smith at 949.444.1901 for more info on this property.

Housing Bill Passes: What this means to you.

The president has officially signed into law the Housing and Economic Recovery Act of 2008, also known as H.R. 3221. H.R. 3221, perhaps the most significant piece of housing related legislation we have seen in recent years, implements necessary consumer protections while promoting stabilization of the current market and industry through reforms to the Government Sponsored Enterprises (GSE’s), Fannie Mae and Freddie Mac, and the Federal Housing Administration (FHA) program.

This bill is very long, 789 pages to be exact, and covers several issues. I have outlined what I think are the main points of the bill that I believe will directly affect us most.

First Time Homebuyer Credit
Allows first time homebuyers of a principal residence to receive a tax credit of 10% of the purchase price, up to $7,500. A first time homebuyer is classified as someone who has not owned a home in the last 3 years. This applies to home purchases made between 4/9/08 and 6/30/09. The tax credit is given to the homebuyer as a check and is repaid over 15 years at $500 per year. A single tax filer with income up to $75,000 will qualify for this tax credit. The tax credit will phase out as a single filer at $95,000 a year income. A joint tax filer with income up to $150,000 will qualify for this tax credit. The tax credit will phase out as a joint filer at $170,000 a year income. If the home is sold before the tax credit is paid back, the homeowner may or may not have to payback the full tax credit. If the homeowner sells the home at a loss, the remaining amount owed on the tax credit is forgiven. If the home is sold at a profit and the profit is less then the remaining amount owed on the tax credit, the tax credit is forgiven. If the homeowner dies, the remaining amount owed on the tax credit is forgiven.

New Agency Conforming Loan Limits
The current agency conforming loan limits maximize at $729,750 depending on the area where the property is located. The current limit is due to expire on 12/31/08. As of 1/1/09 the new maximum conforming loan limits for high cost areas will be adjusted to a cap of 150% of the current GSE loan limit of $417,000 for one unit properties or $625,500. Areas not regarded as high cost, the limits will be set to 115% of the local area median home price or $417,000 for a mortgage secured by a single family residence, $533,850 for a 2 family residence, $645,300 for a 3 family residence, and $801,950 for a 4 family residence.

FHA Modernization
Seller funded down payment assistance programs will be eliminated as of 10/1/08. Minimum cash required from the buyer is increasing from 3% to 3.5%. Up front mortgage insurance premium is increasing to 3% as of 10/1/08.

Hope for Homeowners Plan – FHA Rescue
The purpose of this plan is to ensure that loans are made available to distressed homeowners who could benefit from a refinance in order to be able to stay in their home. It allows owner occupant homeowners to avoid foreclosure by reducing their principal outstanding balance and their current interest rate. Participation in this program is voluntary.

The main requirements under this plan are:
· It must be your principal residence
· Borrowers mortgage debt to income ratio (including all existing mortgages) as of March 1, 2008 must be 31% or higher
· LTV is limited to 90%
· Existing lien holders must waive any prepayment penalties and fees
· Existing lien holders must agree to accept the proceeds as payment in full of all indebtedness and release of all liens
· Minimum 30 year term loan must be secured
· Maximum loan amount allowed under this program cannot exceed $550,400 (may be different for high cost areas)
· No second liens allowed for 5 years
· CLTV can not exceed 95%
· The loan must be underwritten with full income documentation
· Equity appreciation will be shared on a graduated scale with the lender
Sale or refinance within year 1 entitles HUD to 100% of the equity appreciation
Sale or refinance more than 1 year and less then 2 years entitles HUD to 90% of the equity appreciation
Sale or refinance more than 2 years and less then 3 years entitles HUD to 80% of the equity appreciation
Sale or refinance more than 3 years and less then 4 years entitles HUD to 70% of the equity appreciation
Sale or refinance more than 4 years and less then 5 years entitles HUD to 60% of the equity appreciation
Sale or refinance within year 5 entities HUD to 50% of the equity appreciation

The most noticeable changes in the bill are with FHA. Begininning October 1st, 2008, the down payment increases from 3% to 3.5%. In addition, as predicted, FHA will no longer allw the down payment assistance programs like Nehemia. Any loan in process must have full credit approval by FHA on September 30th. The last big change is the mortgage insurance will no longer be "one rate fits all". It will now be driven by credit scores and loan to value. The overall rate will go down making for less payment to the borrower.

The second biggest change is on December 31st, 2008, the temporary high balance of $729,000 will end. Under the new housing bill it will be reduced to $625,500 for both FHA and FNMA and FHLMC. It would have become $417,000 again if not for this bill. These balances apply to Orange County, California as well.

Cypus Shore Ocean View Property: 4016 Calle Louisa - $2,999,000 - Exclusive San Clemente Gated Community with Private Beach Access!

Rarely a great ocean view property comes on the market in the gated community of Cyprus Shore under $3 million. 4016 Calle Louisa has come on the market and is a great buy!!. A legendary community of ocean front properties, world class surfing, private beachs, views beyond belief from Cottons Point to Dana Point with the Islands in between. This is an incredible opportunity for you to own this beautiful contemporay single level home offered at the LOWEST PRICE OF ANY PROPERTY CURRENTLY ON THE MARKET in Cyprus Shore. This is truly a beach lifestyle with community pool, tennis courts, spa, club house and park. Offered at $2,999,000. Listing courtesy of Century 21 OMA

Short Sale and Home Foreclosure Debt Cancellation Information

Update Feb. 4, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief.
This provision applies to debt forgiven in 2007, 2008 or 2009. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion doesn’t apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.
The amount excluded reduces the taxpayer’s cost basis in the home. More information on claiming this exclusion will be available soon.
The questions and answers, below, are based on the law prior to the passage of the Mortgage Forgiveness Debt Relief Act of 2007.

Magnifcant 6,000 Square Foot Waterfront Home with Boat Dock - Weekly Rental - 16989 Edgewater, Huntington Beach, CA

Luxurious Weekly Rental. This Custom French Estate in Huntington Harbor accomodates 18 people with a 60' foot boat with strking views of the water & ocean. Expanisve floorplan with dramatic entry way with 45 foot ceilings. Renting this property will be the most unforgetable vacation you will ever have. Water & Sunset View from the Living, Dining, Kitchen, Master Bedroom & Bath, 2nd Family Room & Patio and a Huge Rooftop Deck with Expansive Views of the Ocean and Perfect for Entertaining. The master bedroom suite opens up to a balcony looking directly out at beautiful Huntington Harbor. Private Elevator with access to all 3 levels & private front & back balconies. The most impressive room in this home is the waterfront great room. It combines towering ceilings, with a huge bar, fireplace, pool table, family room, and dining room. The great room area alone is 2000+ square feet. The couches can be moved in this room to create a perfect area for a dance floor if you have a special event.$7,000/week and $350 cleaning fee. Call Sam Smith for available dates. House sleeps 18 people comfortably.

Online Real Estate Search Surpasses All Other Media

Research now shows that consumers are 500% more likely to sell a home through the Internet than through the newspaper according to the 20007 National Association of REALTORS Profile of Home Buyers & Sellers. It's an important to choose a Realtor that understands how to advertise your home over the Internet vs traditonal print media. The website for Beach Cities Luxury Homes is perfect example of showcasing your home for sale (www.bclh.com). Email me to get a free market evaluation of your home.

O.C. Home Prices Rise For 1st Time In 7 Months In June

O.C. home prices rise for 1st time in 7 months in June according to the Orange County Register.
July 16th, 2008, 9:22 am · posted by Jon Lansner / O.C. Register columnist
DataQuick’s final stats for June show the median home-selling price at $495,000, a 2% increase above May — though pricing is still down 23.3% vs. a year ago. That’s when the current all-time high of $645,000 was set.
We chose to note the monthly price increase, certainly a modest one, because it’s the first time price have increased month-to-month since November. Even with steep discounting, Sales remain sluggish: June buying was 26.9% below a year ago.At the local level, only 6 of 83 O.C. ZIPs saw improved pricing vs. a year ago. (The ZIP-by-ZIP analysis of OC Resales for June is HERE!)

Price Reduction: 34 Marana - Sea Pointe Estates, San Clemente, CA - $1,995,000

34 Marana has just lowered their price to $1,995,000 today (7/11/08) in Sea Pointe Estates. It was previously listed for $2,100,000. It has 4 bd/4ba and approx. 3800 square feet on at 11,100 square foot lot. Here is a brief description from the listing broker "Come enjoy life at the top of San Clemente in prestigious guard-gated Sea Pointe Estates! Commanding views of the ocean and white water by day and romantic views of the city lights at night, from the moment you enter the dramatic 2-story entry foyer of this newer, custom-built masterpiece. Newly built with all the upgrades including travertine flooring, a speclatular kitchen, built-in sound system inside and out. One can enjoy or entertain friends and family in the large, flat, private backyard with spa as you pass through the over-sized double sliding glass doors. An additional game room with wet bar and large deck to enjoy the views. A main floor master suite makes this a very rare find indeed! Association pool, tennis courts and clubhouse. Near award winning schools, freeway access, shopping, restaurants and theaters. Come enjoy luxury living by the beach! Photo & listing info courtesy of Thomas, Jerry of Coldwell Banker.

Please contact Sam Smith at 949-444-1901 or info@seapointeestates.com for info on this or any Sea Pointe Estates properties. Sea Pointe Estates Blog courtesy of Beach Cities Luxury Homes.

Sales Trends For Orange County, CA - Condo Sales Under $500,000 Are Up - Investors Are Back In The Market!

Here Are All The Sold Units for Orange County, CA over a 12 month period from May 2007 to May 2008. The Red Markings Show Sales in Single Family Homes & the Blue Markings are Condo's Sales. Bottom chart shows all price ranges and Top chart shows solds in the under $500,000 price range. Notice the increase in SFR sales in the under $500,000 range. Investors are coming back into this market and picking up the bargain basement prices on condo's under $500,000. This is a great time to pick up great buys!

New Listing - 2111 Via Teca, San Clemente, Ca 92672 - $759,000!!

Short Sale!!! Looking for an Ocean View home in San Clemente? This property features Ocean & Catalina Views from both levels In This Exclusive Gated Commnunity of Marblehead. Prime Location With Breathtaking View From The Master Bedroom & Downstairs Living, Kitchen & Dining Room. Elegant Hand Crafted Staircase With Formal Dining Room. Huge Master Bedroom With Large Walk-In Closet. Two Stone Fireplace & Newer Appliances & Views Abound. Property features 3 bedrooms & 2 baths with approx. 1900 square feet of living space on a 5,000 square foot lot. Priced at $759,000. This is a great buy for an ocean view home in San Clemente. Interested in learning more about this property? Email: sam@bclh.com or call us at 949-444-1901. A Beach Cities Luxury Homes Listing: http://www.bclh.com

Sales Are Starting To Rebound!

That was the headline of the Orange County Register on Tuesday, May 20th 2008. The accompanying photo was a very crowded entry to an open house. What’s happening? The bottom of this market is approaching, that’s what. This is exactly what was reported in this newsletter last month. Prices have gone down so far, so fast, that it’s hard for waiting buyers to resist. We saw an upward trend in open escrows as mentioned last issue, but the main ingredient is the upward swing of the affordability index which is growing every month to a higher percentage of people who can now buy a home. This correction in the market was not only inevitable, it was necessary. When the market topped out in 2006, we were down to 11% affordability. When only 11 people out of 100 can afford to buy a home, that market is in trouble. According to Dataquick sales were still off 19% from the same period last year, but that is a lot better than 36% off the mark. But still, there is a long recovery period ahead. The OC Register reported, using Dataquick numbers, that April (the latest complete month stats available), was 46% below the average April since 1988. According to the article, “Sales for the January through April period were down 57% compared with the 20 year average.”
But the upward trend is significant. Both investors and homebuyers are on the hunt for the perfect deal. Certainly the raise in FHA loan limits has helped significantly as well as FNMA interest rates remaining at their near historic lows. Should you buy? That’s up to each individual to decide according to their need. But it should be mentioned that THE TODAY SHOW aired a segment on real estate the last week in May. Their conclusion: DON’T WAIT! BUY A HOUSE! This is the same morning show, viewed by millions that 2 years ago proclaimed, “Whatever you do, don’t buy a house right now.” So the fact that they are on board with a bottoming market, is at the very least, interesting.

Price Reduction: 69 Marbella - Sea Pointe Estates, San Clemente, CA - $1,100,000

Price Reduction today for 69 Marbella in Sea Pointe Estates. Property was listed for $1,299,000 and now is on the market for $1,100,000. This is the lowest price Sea Pointe Estates home by almost $600,000 as of today! The next lowest price home is 28 Campanilla at $1,699,000. This may be you chance to get into this wonderful gated community in San Clemente. I've had several requests from buyers looking for homes over 2500 square feet or bigger. This property is approx. 2,485 square feet and is on a huge 10,000 square foot lot. Marbella is the main street as you enter Sea Pointe Estates and this is at the top of the street with Ocean Views as seen in the photo above. The property has 3 bedrooms & 3 baths. Listing info & photo courtesy of Flock, Candice of Prudential California Realty.Call Sam Smith at 949-444-1901 or sam@bclh.com to get more information on this newly reduced Sea Pointe Estates home.

Sea Pointe Estates New Listing - 16 Cresta Del Sol - $1,769,000

A New listing has hit the market in Sea Pointe Estates. 16 Cresta Del Sol is listed for $1,769,000. The property was previously on the market and now the owners are motivated to get it sold! The property features 5 bedrooms & 6 baths, 4000 square feet of living space with a 3 Car Garage. Here is a brief description of the property: "What a view for this price! Panoramic views of ocean, canyon and city lights the moment you enter the elegant 2-story entry foyer. Newer, custom-built Tuscan style home offers several sets of French doors from many rooms to entertain friends and guests or step out onto the oversize deck to enjoy the spectacular views of the ocean, hills and golf course by day or romantic city lights at night! Chefs will love the bright, open kitchen while enjoying the ocean view. The master suite has commanding views and a large private deck to unwind after a long day, a fireplace and luxurious master bath. Come enjoy luxury living by the beach is prestigious, guard-gated Sea Pointe Estates. Near beaches, shopping, restaurants, movie theaters, schools, and of course, the cool ocean breezes, with NO MELLO ROOS! Listing Text & photo courtesy of Thomas, Jerry of Coldwell Banker.The property does require an appointment to view this property.

Please contact us at info@seapointeestate.com to view this property or call 949-444-1901 to schedule an appointment.

Just Sold: 126 Avenida San Dimas - $695,000

Newly Listed Beach House in San Clemente! Property features 3 large bedrooms with 2 baths and bonus office room in garage! Over 1500+ square feet of living space and ideally located next to golf course and easy walk to World Class Trestles surfing beach! Property is currently listed for $695,000 by Sam Smith. Here is a brief description on the propety "Great Value In San Clemente. Large 3 Bedroom Home With Ocean & Golf Course View Deck! Easily Walk To Trestles Beach & State Park & San Clemente Golf Course Is Within Steps Of The Property! Home Features Newer Windows, Roof, Wood Flooring & Closet Organizers. Property Is Completely Fenced In For Dogs & Kids to Play! The Property Has Lots Of Natural Light and The Rooms Flow From One Room To The Next. Bonus Office Room Set Up In The Garage. Interested in seeing this property? Contact Sam Smith at 949-291-0424 or sam@bclh.com

31 Campanilla: Sea Pointe Estates Murder Mystery

SAN CLEMENTE, Calif. -- Sea Pointe Estates. As reported by KNBC, An investigation continued Monday into the deaths of five adult family members whose bodies were found in a home in a San Clemente gated community, authorities said. Click here to see Video.

Orange County Sheriff's Department spokesman Jim Amormino said relatives had asked for welfare checks at the home prior to the discovery of the bodies, but authorities had checked only the outside of the home previously. Sheriff's Lt. Erin Guidic said the bodies were discovered Sunday by a relative who went to the home at about 3:50 p.m. and then called 911.Sheriff's deputies arrived about 4 p.m., Sunday, at 31 Campanilla St., in Sea Pointe Estates, and found the bodies of five adults.The victims, all members of the same family, had been shot, the Orange County Register reported. They may have been dead for two to three weeks, according to the newspaper.KNBC reported that the stench from the decomposing bodies was so bad that workers wore masks as they removed them.The hillside neighborhood has large homes worth $1.5 to $2 million, according to the real estate Web site Zillow.com.Amormino would not speculate on whether the deceased were victims of a murder or murder-suicide, but judging from evidence at the scene, the deaths were "definitely foul play," he said.Authorities would not say if they believed the killer or killers were among the dead, but Lt. Guidic told the Register, "I don't think there is any reason for the community to be fearful."The dead, all found in a first-floor bedroom by a relative Sunday afternoon, were described as a couple in their late 40s or early 50s, an older woman and twin sisters in their 20s.Two handguns found in the house were taken into custody as evidence, authorities said.Autopsies on the bodies were under way Monday, and results were expected on Tuesday.

According to True Crime Web Blog, 31 Campanilla was the San Clemente address for accident reconstruction specialist Dr. Manas Ucar. Ucar's expertise was in vehicle fires, explosions, and seat belts.At one time Dr. Ucar was a professor at Syracuse University in Syracuse, NY. Several newspaper articles about Dr. Ucar were published in the Syracuse Post-Standard in the 70s and 80s. Interesting in light of this story was a small announcement published in that paper in October, 1986. It told of twin daughters being born on September 6 that year to Mr. and Mrs. Manas Ucar of 734 Westscott St.

The OC Register reported today that Fingerprint experts are expected to help identify the badly decomposed bodies of five family members who were discovered in a house here over the weekend, Sheriff’s officials said Monday.The bodies could have been in the house for two to three weeks, said Sheriff’s officials, who believe the deaths resulted from an isolated incident and that there is no danger to the community.Two handguns were found in the house on Campanilla Street in the gated Sea Point Estates neighborhood overlooking the ocean, officials said. The bodies were discovered late Sunday afternoon after relatives went to the house.Sheriff’s Lt. Erin Giudice declined to give the exact street address for the house, but neighbors said it was 31 Campanilla. That house is owned by Manas Ucar, property record show. Ucar is listed as a consulting engineer and an expert witness for accident investigations, according to ca-experts.com – an online California database of expert witnesses.Property records also list a Margaret or Margrit Ucar at the address.The neighborhood, set on a hillside, has large homes worth between $1.5 million and $2 million, according to Zillow.com.Found dead in the house were a man and a woman in their 40s or 50s, twin sisters in their 20s, and an older woman in her 70s or 80s, Giudice said.The middle-aged man and woman were found near a closet off a first-floor bedroom, each with a handgun nearby. One of the guns was registered to the woman, Giudice said; she did not know to whom the second was registered, or whether either gun had been fired.The two younger women and the older woman were found nearby, in the first-floor bedroom. Giudice said there was no sign of a struggle and nothing else in the bedroom appeared to be amiss.The man appeared to have suffered a gunshot wound, Giudice said. One more of the dead might also have been shot, she said, but the bodies were so badly decomposed that investigators were not certain.Autopsies of the five bodies began on Monday morning, but Giudice said it would likely take until Tuesday to get any results, including the identities of the dead. Fingerprint experts are expected to arrive Tuesday to help identify the bodies.The family that owned the house, the Ucars, had twin daughters in their early 20s, said Roxie Weaver, a neighbor.In an interview with KDOC-TV’s Daybreak OC news show, to be aired Tuesday, Weaver said “You could hardly tell (the twins) apart because they always dressed exactly alike.”Grace and Margaux Ucar were 2004 graduates of San Clemente High School, according to a yearbook Weaver showed to KDOC. A Grace and Margo Ucar studied human biology at UC San Diego, where they were due to graduate this year, according to a list posted on the university’s Web site.The twins’ mother had a jewelry store at the atrium in Fashion Island, Weaver said. She said the family had lived in the gated neighborhood for 17 or 18 years and were “very private.”Three relatives – at least two of them brothers – found the bodies on Sunday afternoon after breaking a window to get into the house, Giudice said. The smell was so overwhelming that investigators had to wear Scuba-like breathing masks when they entered.The relatives had called the Sheriff’s Department a few days earlier, asking that deputies swing by the house and make sure everything was all right. The relatives said they thought the family was on vacation.Deputies visited the house on Saturday and checked the doors and windows, but found nothing out of the ordinary, Giudice said. They even called a tow truck to help them get into a car parked outside, but did not find keys or a garage-door opener. The relatives asked them not to force their way into the house.It was the second time this month that deputies had visited the house, Giudice said. On May 14, a neighbor had called to say the family appeared to be away on vacation, and asked that deputies check on the house.Giudice described the people who lived in the house as a “very, very quiet family.”

Dana Woods Home for sale - 25091 Danacoral - $829,000

Just Listed! Looking for a home by the beach? This Large Two Story Home In The Beach Community of Dana Woods in Dana Point Is now for sale for $829,000! It's One of the most popular floorplans in this community with 4 Bedrooms & 3 Baths. It has a Large Open Floorplan with Gracious Size Rooms. Downstairs features a Main Floor Bedroom & Bath & Inside Laundry. Upstairs features 3 Bedrooms Including a large Master Suite. Property Is Located On A Very Quiet Cul-De-Sac Location. An exclusive listing of Beach Cities Luxury Homes: Please Contact Sam Smith at (949) 291-0424 for more information on this home. Please visit http://www.25091danacoral.com/ for more photos of this property. Online brochure at http://www.dana-woods.com/

Understanding Today's Real Estate Market

If you have every wondered how the real estate market got to the point where it is today you need to go back several years to get a perspective on what created today's market conditions. Here's a view of what happened according to the Institute of Luxury Home Marketing.
What created today's market conditions?
The conditions leading to the current credit crunch and real estate slowdown are largely a result of a frenzy of demand - demand created by the global investment market and by individual investor/speculators. Beginning in 2000, the world's pool of investment money exploded. In 2000, there was a pool of about $35 trillion dollars invested or seeking investments. But in the short time between 2000 and 2006, that global money pool doubled to about $70 trillion. This translates to a huge number of cash-rich investors -- from pension funds to sovereign funds - all competing for good investments.
Money to spend!
Pools of mortgage loans (mortgage backed securities) have historically been viewed as safe, desirable investments. So, the growth in investment funds meant demand for these investment vehicles soon outstripped supply. Mortgage companies recognized that if they could generate more loans, they could sell them. Wall Street created new ways to package these mortgages, sell them, and pass the benefits and risks on to investors. In addition, more loans supported the political objective of increasing home ownership.
At first it seemed like a win-win. Mortgage money fueled home ownership. The lenders made money, Wall Street prospered and the risk to investors was evaluated based on historical data showing low loan default rates in the U.S. The problem was that in the rush to make more loans, lenders' underwriting requirements lipped. What lenders call "liars loans' became common. These loans required no verification of income or assets. The lender took your word that you had a job and that your income and assets were what you said they were. They simply checked your credit score and made the loan. Adjustable rate loans, interest-only loans, and other loans previously used for special situations, went main stream and were often misused.
This flood of cheap, easy money (designed to produce the maximum number of loans) attracted small investors who decided to join the home buying party. In 2004, a less than terrific stock market caused many investors to look for alternative investments. The California, Florida, Washington D.C. markets (plus a few other major markets) were attractive locations for investment due to strong population growth, healthy job markets, and good overall economic prospects. Investors swarmed into these markets under the assumption that money invested in residences would generate higher returns than the stock market or other investment options. They were right. However, in lock step with investors, came swarms of speculators (we're defining speculators as investors who really couldn't invest without special financing.) The low underwriting standards allowed them into the market.
The demand created by these two groups created a buying environment in these targeted markets where flipping became the norm. It ceased to matter whether a property would cash flow or even be rented. There were quick profits to be made. Return-on-investment was high. Strong demand allowed investors and speculators to contract for a property with a small deposit and sell the property at a profit prior to closing. Others bought, held briefly, and resold for more money. Price appreciation soared with the demand. Developers and builders followed the money and inventories began to rise.
2005: The frenzy moved to new markets
By 2005, many savvy small investors felt the top markets of 2004 offered less opportunity and they looked for new markets where economic fundamentals were good and prospects for home appreciation were strong. In short, they wanted to duplicate the smart investments of 2004 in new markets. This shift or "spillover" into new markets like Phoenix/Scottsdale (AZ), Las Vegas (NV), Reno (NV), Seattle (WA), and Cape Coral (FL), created new demand in these markets. Speculators followed, as did builders and developers. Second home buyers also jumped into the fray, adding to the demand. Government home ownership programs encouraged those at the bottom of the economic pyramid to buy. Money was fueling the market. Homeowners who didn't want to sell, refinanced instead using the high valuations on their homes to take out cash. Home equity was used like cash from an ATM machine to fuel consumer purchases contributing to a more robust economy. The total number of loans soared.
During 2005, almost 40% of all home buyers were investor/speculators or second home/vacation buyers (27.7% & 12.2% respectively). The difference between the two is primary intent. Investors were looking for return on their investment, while second home buyers' primary motivation was to use a property as a residence. Appreciation soared in these spillover markets in 2005. For example, Phoenix/Scottsdale prices jumped almost 40% in 12 months.
This was not a normal market, nor one which thoughtful observers would expect to continue. Bubbles were being formed. However, the housing boom was an economic engine and everybody wanted on board. Anyone looking closely at the situation should have seen trouble on the horizon. But, consumers were getting dream homes, lenders and Wall Street were raking in profits, home ownership was growing, industry job creation was strong, old statistics promised the investments were safe, and regulators, must have been dozing.
2006: The real estate market slowed down
By 2006, some homeowners began having difficulty making their loan payments as loans ballooned or rates clicked up. When lending practices began to tighten in 2006 and some loans had significant rate adjustments, there were fewer qualified buyers and more available inventory, so market conditions changed. Many buyers fund themselves with properties they couldn't afford and loans that were upside down - more was owe on the properties than they were worth. There were fewer investors pursing residential investments and those that were out there shifted their target markets looking for new opportunities for good returns. Speculators began to fall out of the market.
In 2006, 36% of buyers fell into the investor/speculator or second home buyer category. The percentage of investors had declined to 22%, while the percentage of second home buyers had increased to 14%. Despite the overall slowdown, there were still some markets with good appreciation (investor/second home buyer demand, a booming oil business and Katrina relocations all being important factors). Top appreciation rates in 2006 were about half of what they'd been in 2005. Overall, national home sales slipped 10.8% in 2006, compared to the previous year. However, mortgage securities were still a hot commodity.
2007: The slowdown continued
By 2007, the downturn in housing had gained momentum. Lenders were facing a secondary loan market which was becoming a bit more selective about loan purchases. Money was getting tighter. Job losses and other economic issues in markets like Cleveland and Detroit contributed to the slowdown. By the end of the year, The National Association of Realtors reported that the housing market was off by 12.8% compared to 2006 (which, remember was already down about 10% compared to 2005). The new home market had suffered even more, falling a whopping 26%, according to the National Association of Home Builders.
2008: Credit Crunch
2008 brought a serious "credit crunch." The creative packaging of loans into new forms of mortgage securities, (which had fueled the market by keeping money flowing for home investment) suddenly became a more visible problem. As buyers defaulted, the value and marketability of the mortgage securities became questionable. The financial market took a closer look at these securitized mortgages and realized that ratings based on old underwriting standards were irrelevant and the risks were significantly higher than projected. Defaults and foreclosures soared, home inventories rocketed up, and home prices softened. Available money dried up and the financial market face liquidity and solvency issues. The bubble had burst. The loan frenzy was over, leaving an industry questioning how to deal with the resulting problems.
So what's ahead? With money tighter, home inventories high, an economy that is either in or on the brink of recession, a weak U.S. dollar, and lower demand for housing, it seems safe to assume that the short term economic news is not good for residential real estate. We have not yet seen the full extent of problems in the housing market and may soon have to deal with similar problems with auto loans and credit card debt. It will probably take the rest of 2008 and all of 2009 before we work our way out of the housing downturn.
The luxury market continues to perform well
It's not all doom and gloom. The top of the market continues to be healthy. Many of the country's most affluent zip codes are still enjoying price appreciation. Recent research by The Harrison Group for American Express revealed that the affluent view today's real estate market as an opportunity. In fact, those who earn at least $500,000 annually not only see an opportunity; they plan to buy residential real estate in the next 12 months. Of the 40% who report buying plans, the majority say their planned purchase will be a second or third home. This demand will be supplemented by wealthy international buyers who view our residential properties as "on sale" and are continuing to purchase in many major markets.

Bottom line - the market overall is soft and will be for awhile; however, the top of the market is out performing other segments.