February 2012

There are 19 blog entries for February 2012.

San Clemente, California has opened an extraordinary mega park "Vista Hermosa Park". This park has athletic venues that will promote young people to learn to play team sports and also just have fun. This park is for the young and mature.

The park boasts nine playing fields, a grand aquatics center, a perimeter trail, a state-of-the-art playground and more. In the center of this incredible mega sports park is a playground for young, mature, and wheel chair accessible. This Universal Playground is called "Courtney's Sand Castle".

Address:
VIsta Hermosa Sports Park
987 Avenida Vista Hermosa
San Clemente, Ca

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Warren Buffett says along with equities, single-family homes are a very attractive investment right now.  Appearing live on CNBC's Squawk Box, Buffett tells Becky Quick he'd buy up single family homes if it were practical to do so.  He also revealed he put 175 million euros into each of eight European stocks on behalf of Berkshire Hathaway at the end of 2011.

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January 2012 statistics show San Clemente CA had 391 foreclosure homes with an average foreclosure sales price of $525,614 vs. an average sales price of $722,375, a $196,761 savings according to RealtyTrac.com.


1 in every 302 housing units received a foreclosure filing in January. 

San Clemente CA Foreclosure Activity and 30-Year Interest Rate

There were 46 new foreclosures in the 92673 zip code and 40 new foreclosures in 92672, for a total of 86 new foreclosures in San Clemente CA. Interest rates dropped to 3.92%.

Orange County CA foreclosure activity is based on total number of properties that receive foreclosure filings…default notice, foreclosure auction notice or bank repossession…each month. Interest rate is based on average

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There were 15,324 Orange County CA foreclosures in January 2012, according to RealtyTrac.com. The average sales price of an Orange County home was $532,450 while the average sales price of a foreclosure home was $391,516, a $140,934 savings.

Orange County CA Foreclosure Activity and 30-Year Interest Rate

Orange County CA foreclosure activity had 3,317 new foreclosed homes in January while interest rates dropped to 3.92%.

 forecl-jan_2012_430_01

Orange County CA foreclosure activity is based on total number of properties that receive foreclosure filings…default notice, foreclosure auction notice or bank repossession…each month. Interest rate is based on average 30-year fixed rate from Freddie Mac’s Primary Mortgage Market Survey.

Orange County CA Foreclosure Geographical

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The San Clemente Real Estate Report below reflects the number of resale single family residences and condos as well as new homes selling in San Clemente. Also reflected is the % of change is from 2011.

San Clemente Real Estate Market Trends - January 2012

San Clemente - 92672

Median Price: $410,000
Change from 2011: -29.3%

Number of Homes Sold: 26
Change from 2011: -3.7%

San Clemente - 92673

Median Price: $587,500
Change from 2011: -2.9%

Number of Homes Sold: 26
Change from 2011: -16.1%

Figures courtesy of DQNews.com.

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The Orange County CA Real Estate Report below reflects the number of resale single family residences and condos as well as new homes selling in Dana Point, Laguna Beach, Laguna Niguel, Mission Viejo, San Clemente and San Juan Capistrano. Also reflected is the % of change is from the same month last year.

Orange County CA Real Estate - January 2012


Orange County Community

Median
Price

Change From
2011

Homes
Sold

Change From
2011

 Dana Point - 92624

 $385,000

 -36.9%

6

 +100%

 Dana Point - 92629

 $585,000

 +5.3%

23

 +9.5%

 Laguna Beach - 92651

 $875,000

 -12.5%

 27

 -12.9%

 Laguna Niguel - 92677

 $528,500

 -6.5%

60

 +9.1%

 Mission Viejo - 92691

 $405,000

 -15.6%

43

 +48.3%

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Yes, it’s tax season again, and given the state of the economy, saving every penny is important.  One of the major advantages of owning San Clemente real estate becomes readily apparent at this time of year, and that is, of course, tax deductions.  As a homeowner, you can usually deduct 100% of your mortgage interest, insurance, and property taxes –and write off many of your closing costs. 

 

In order to reap these benefits, you will have to itemize your deductions on your return, but that is time well spent in view of your savings. And better yet, in addition to deductions, there are also tax credits available to you as an owner of San Clemente real estate.  Remember, the tax credit actually reduces the amount of taxes you will pay, whereas a

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The California Association of Realtors@ closely monitors and analyzes trends in the residential California real estate industry. The table below contains the latest reported existing home sales series, median home prices, unsold inventory index, median time on market, first-time buyer housing affordability index, and the latest mortgage rates.

at_glance_1-2012_648

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In December of 2007, Congress signed into law the Mortgage Debt Relief Act to aid distressed homeowners.  Under regular circumstances, when a lender chooses to forgive all or part of a borrower’s debt, that amount is considered income and the borrower is liable to be taxed on it.  However, this law offers relief to the owner of Orange County real estate in that debts discharged through calendar year 2012 are not taxable.  Limited to primary residences only, the amount of forgiven mortgage debt allowed to be excluded from income tax is $2 million per year.  Debts reduced through mortgage restructuring as well as mortgage debts forgiven in connection with foreclosure qualify for this relief.

On the fence about selling your underwater Orange County real…
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