Is Orange County Real Estate Market BOUNCING BACK ?

Orange County Home Price Showing Stabilize in many cases Start Heading UP UP UP !!!!

BUYERS ALERT ... BUYERS ALERT !!!

I'm doing the preview and showing approximately 70 - 80 homes a week ... For the last 3 weeks every where I go ... Many properties which has reasonable price was SNAP OUT from the market and PENDING IN ESCROW right away ... BACKUP OFFERS status are all over the Internet.

Combine of:

1. US Dollar weakening
2. Stock Market are so risky to get involve
3. GOLD price is too high and may crash at anytime (Just like Real Estate market couple years ago)
4. At this moment China continues to be THE WORLD #1 Buyer of Building Materials ... Even here at home The good old USA many American's Companies prefer to do business with China than at home ... CHINA BUYING POWER PUSHING BUILDING MATERIAL PRICE UP.
5. Look at GAS PRICE almost $4 Dollars per Gallon driving EVERYTHING ELSE UP.
6. But housing continue to have Lower Interest Rates
7. Housing price at their Lowest Price since 2004
8. Tax write off advantage
9. Chance to building up Equity and Saving
10. Chance to Fulfill your AMERICAN DREAM is to owning your owned home ... So your wife don't yell or get Mad with you because you're missing the boat again.
11. After all NOW at this moment INVESTED IN REAL ESTATE in southern California specially ORANGE COUNTY seem to be the WISE CHOICE to me.

Please Read my previous Article which I wrote 2 months ago ... Back then after I analyzed that Real Estate Market it self will stabilize in the next 3 to six month and for sure it's start working now ... Many buyers know that the market is bottom out so they all jump off the fence at the same time and start buying making offers left and right AT THE SAME TIME ... in some case I experienced that property pricing was increase by $20,000 to $30,000 after only couple days of listing my own listings also got multiple offers (15 to 20 offers in 2 weeks) and most of them are over asking price.

If you look closely in some case actually buying is paying less than renting ... specially for many young couple ... remember STARTER HOME is not your dream home but it's a first step to getting there ... it's will help to saving for your equity, Tax advantage and place to call home.

DO IT NOW ... Don't miss the BOAT ... believe me I'm in this business close to 20 years I know what I'm talking about ... If you are waiting for MEDIA NEWS you are TOO LATE !!! HEY BUYERS ... !!! WATCH MY LIP ... DO IT NOW "BUY NOW" BEFORE IT TOO LATE !!!...

Sincerely
Your Home SOLD in 45 days or we'll buy it for cash!!!
Vinny Tran / Nancy Do
www.VinnyTran.com
(714)531-2678

Why serious buyers need loan Pre-approval?

Why serious buyers need loan Pre-approval?

Obtain the Best Rates & Lowest Closing Costs
When you are ready to purchase a home, it makes sense to negotiate from the strongest position possible. In a strong real estate market, sellers can be more selective in the final buyer they choose to negotiate with. In such a crazed seller's market, it's not uncommon for a home seller to receive multiple offers on their property. With that said; there are certain things you can do to make certain that your offer is the one Seller goes with.

The vast majority of Purchaser's today go about the process entirely wrong, putting themselves at an overwhelming disadvantage!

Let's look at this from the Sellers perspective for a moment. If you were the Seller and had multiple offers on your property, all things being equal, would you accept the one with Certificate of Financing Approval or the one that was still conditional on Financing? The answer is obvious. Why then, do so many buyers wait to start the financing until after they have found the home?

What I have found is that those buyers are usually very good, qualified buyers and are not worried about getting approved. Even though they usually are correct and will ultimately be Approved, the Seller in most cases has no guarantees.

Lastly, from a cost savings perspective...

As a prospective purchaser, it makes all the more sense to start the financing early on so you can get a firm handle on your interest rate and estimate of points and closing costs. If you do this before finding a home, you are not under any time constraints and are less likely to over pay like a buyer who has found a home and is under strict time constraints.

Watch this Video to understand more about Home Loan what is the difference between Prequalified and Preapproval why it's so important when buying or refinance home.
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Should you decide that you wish to take advantage of Pre-Approval, simply give us a call at (714) 531-2678 or Email us at mrlittlesaigon@yahoo.com we will locate the absolute best mortgage rate and lowest closing costs possible and process your application without any cost or obligation.

Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

VIDEO: FORECLOSURE is NOT an option !!!!

VIDEO: FORE CLOSURE IS NOT AN OPTION !!!!
WHY SHORT SALE? ... Because FORECLOSURE IS NOT AN OPTION, Many people with Mortgage late payments THINK that a FORECLOSURE MIGHT BE OKAY, or just be 7 years on the credit report ... WRONG!!! FORECLOSURE CAN BE MUCH WORSE AND THE DEBTH NEVER GOES AWAY Find Out Why?
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Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Buying A Home - Top things to know

Buying A Home
Top things to know

1. Don't buy if you can't stay put.

If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner.

2. Start by shoring up your credit.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

3. Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you'll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

4. Don't worry if you can't put down the usual 20 percent.

There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3 percent of the purchase price.

5. Buy in a district with good schools.

In most areas, this advice applies even if you don't have school-age children. Reason: When it comes time to sell, you'll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

6. Get professional help.

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

7. Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points -- a portion of the interest that you pay at closing -- in exchange for a lower interest rate. If you stay in the house for a long time -- say five to seven years or more -- it's usually a better deal to take the points. The lower interest rate will save you more in the long run.

8. Before house hunting, get pre-approved.

Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

9. Do your homework before bidding.

Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that's about eight to 10 percent lower than what the seller is asking.

10. Hire a home inspector.

Sure, your lender will require a home appraisal anyway. But that's just the bank's way of determining whether the house is worth the price you've agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.

VIDEO from Money Talk News - HOME: Rent or Buy ?
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Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Eat your Heart Out ... C21 Olympic Team Christmas Party 2007

Hey Leesa & Anthony Thank You so much for the great party this is the first Christmas party with you guys and we like it very much you guys are great.
Video: Eat your Heart Out ... C21 Olympic Team Christmas Party 2007
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About Us
Welcome to CENTURY 21 Olympic Team.

CENTURY 21 Olympic Team is the largest, most active Real Estate company in the Southern California.

CENTURY 21 Olympic Team understands the goal of every buyer: to receive maximum value for the price you pay. We specialize in one thing: Value. Pre-construction prices, waterfront property and hidden gems along the Southern California are our niche. We'll show you where the deals are.

CENTURY 21 Olympic Team also gives you the attention you want and the personal assistance to help you make an informed purchase that suits you, not us. If you want to find your deal and feel good about it, CENTURY 21 Olympic Team Real Estate Company is the place.

Value. Hidden gems. The best deals in pre-construction pricing. That's us. We know about the deals before they hit the market. That's who we are. CENTURY 21 Olympic Team professionals.

Our Mission:
Our overall mission is to assure that owners and investors receive the most effective research, advisory and transaction services tailored to the nuances of each property type. We achieve this mission by providing our agents with specialized training, custom tools and research for each property type as well as ongoing organization and communication.

Our Real Estate Company has more listings and real estate sales in Orange County than any other real estate company. We feel that our success comes from important things like being accessible to you.

Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

National association of realtors® - March 06, 2008 - Flat Existing-Home Sales Likely Before Gradual Recovery

National association of realtors®

Flat Existing-Home Sales Likely Before Gradual Recovery

WASHINGTON, March 06, 2008 - The volume of existing-home sales is expected to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas, according to the latest forecast by the National Association of Realtors®. Lawrence Yun, NAR chief economist, said many buyers have been waiting for higher mortgage loan limits. “The higher loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rate mortgages in high-cost regions,” he said. “Therefore, a notable rise in home sales can be anticipated in the second half of the year."

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in January, held at a stable level of 85.9, unchanged from December, but was 19.6 percent below the January 2007 reading of 106.8. “This additional sign of a stabilizing market is encouraging, and our members are telling us there’s been a pickup in shopping activity.” Yun said. “Our hope is that the increased traffic of buyers looking at homes will translate soon into more contract offers.”

The PHSI in the West jumped 13.0 percent in January to 93.8 but remains 12.7 percent below a year ago. In the Midwest, the index rose 0.6 percent to 85.2 but is 13.3 percent lower than January 2007. The index in the Northeast declined 4.1 percent in January to 69.6 and is 28.0 percent below a year ago. In the South, the index fell 6.1 percent in January to 89.5 and is 23.8 percent below January 2007.

Existing-home sales are forecast to remain flat around an annual level of 4.9 million in the first half of the year before improving to a 5.8-million pace in the second half. With a weak first half, total sales for 2008 are projected at 5.38 million, but are then seen to rise 3.5 percent to 5.60 million in 2009. The aggregate existing-home price is projected to decline 1.2 percent to a median of $216,300 this year, and then increase 3.5 percent to $223,800 in 2009.

A pattern of disparate price performance continues around the country with a roughly even split between up and down markets. Recently released data for the fourth quarter shows strong price gains in markets such as the Kennewick-Richland-Pasco area of Washington; Topeka, Kan.; and Atlantic City, N.J. At the same time, many areas that have lost jobs are showing price declines.

“Significant price declines in some local markets have sharply and quickly improved local affordability conditions, and are inducing buyers to return to the marketplace,” Yun said. NAR’s housing affordability index is forecast to rise 14 percentage points to 127.0 in 2008.

New-home sales should decline 23.7 percent to 590,000 this year before rising 7.2 percent to 633,000 in 2009. Housing starts, including multifamily units, will probably fall 25.1 percent to 1.01 million this year, and then continue to slip another 2.7 percent to 987,000 in 2009.

“As builders sharply cut back production, vacant new-home inventory has consistently declined over the past year-and-a-half,” Yun said. “That will permit a quicker return to balanced market conditions in many local areas.” The median new-home price is likely to fall 6.1 percent to $232,200 this year, and then rise 5.1 percent in 2009.

The 30-year fixed-rate mortgage, which has moved erratically in recent weeks, is expected to hover around 5.8 percent most of the year, and then rise to an average of 6.3 percent in 2009.

Growth in the U.S. gross domestic product (GDP) should be 1.5 percent this year and 2.4 percent in 2009. The unemployment rate is projected to average 5.4 percent in 2008 and 5.5 percent next year.

Inflation, as measured by the Consumer Price Index, will probably be 3.2 percent this year and 1.5 percent in 2009. Inflation-adjusted disposable personal income is expected to grow 1.4 percent in 2008 and 3.1 percent next year.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.

# # #

(1) The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

Existing-home sales for February will be released March 24; the next Forecast / Pending Home Sales Index will be released April 8.

VIDEO Home Foreclosure Buyers - Avoid These 7 Costly Mistakes
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Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Buyer Miss-Understood about SHORT SALE

Buyer Miss-Understood about SHORT SALE
Understand SHORT SALE is NOT BANK OWNED
This is the real Email Answesr from us to one of our buyer Misled by the Short Sale Listed Price!

"VinnyTran.com" wrote:
That's OK ... I am glad that you now understand what is the meaning of SHORT SALE and also other mess seller leave behind for buyers (to name the few like: Tax lien, other junior liens on the house, law suit ... ) buyers must clean it up before taking title of the house
Yes this Saturday 2pm at my office and we'll continue our home searches in the area, I have your Mc.Duff and Lampson property on my list beside that we going to visit other bank repos properties in the area ... see you then.
Sincerely
Vinny / Nancy
(714)531-2678

ACTUAL Buyer wrote:
Chu Vinny,
What an eye opening! Txs so much for the info. I have
been searching the wrong way. I got misled by the
listed pricing...My intention was not to focus on
short-sale, but the houses I found happened to be short-sale.
Here is one bank owned, pls arrange to see this Sat.
P622621 - 11691 MAC DUFF STREET, 92841
we’re open to your suggestions....
Also, can you pls check to see if the house on Lampson
is short-sale or bank owned?
Sincerely,

--- "VinnyTran.com" wrote:
> Hi ,

"Recently, short-sale houses are lowering their
> asking price to $350K price range"
>
> So you really Do Not understand what short sale
> really is, it is something like this:
> (2 years ago Many buyers purchase properties under
> NO DOWN payment) there for their purchase price also
> is their Mortgage Loan.>
> Example: >
> In 2006 a buyer Purchase his home at $600,000
> with NO DOWN there for his Mortgage Loan also is
> $600,000.
> In 2008 as today market that same home only worth
> $450,000 ($150,000 less than what they bought the
> house for).
> There for at a BIG LOSS for their financial they
> decided to get rid of the house by selling it at
> LESS THAN today market price ($450,000) ... by
> listing the property way lower than what it worth
> ... sometime they listed at $100,000 with the hope
> that some Buyer will put an offer in and purchase
> home for that price ... So they can use this buyer
> as a bargain chip to get out of their Bad Loan.
> Now let say some Buyer whom Do Not understand
> what Short Sale really is and thought if they offer
> $100,000 for that house they can get the house for
> that price and gaining $350,000 Equity in that
> house.
> But that is not the case ... 10 times out of 10
> times Lender will not approved such a Naive and
> Crazy selling price ... They will reject such a none
> sense offer or counter the offer back almost to the
> Full Market Price (we are very lucky if they giving
> us 10% discount on the market price ... Usually is
> 5% discount on Market Value is the norm.)
> Do some more research about Short Sale for
> yourself so you'll have a better understanding what
> is it all about, BANK REPO, REO is a must better way
> to buy foreclosure homes.>
> Sincerely
> Vinny Tran
> (714)531-2678
>
>
> ACTUAL Buyer wrote:
> Hi chu Vinny & co Nancy,>
> Thank you very much for your guidance, here is our
> situation:>
> Presently, our saving is around $40K. Our combined
> income after taxes are appx $5+K/mo. Based on the
> estimate calculation, a house of $350K + taxes =
> $2.5K/mo, which is 50% of our monthly income.
> Recently, short-sale houses are lowering their
> asking
> price to $350K price range. We're hoping to find
> "the"
> one w/in this range.>
> We understand it's difficult, but would like to
> continue this search a little longer. Looking
> forward
> to your further advice.>
> Sincerely,>
>
> --- "VinnyTran.com" wrote:
>
> > Hi ,> >
> > Nancy and I we have been helped many buyers very
> > much with financial situation like you guys moved
> in to there First Lovely Home.> >
> > 1) SHORT SALES are NOT the answer for your
> > searches.
> > 2) Most of the Single Family Homes is out of your
> > reach.
> > 3) You both now almost in the exhaust mode and
> > pretty soon will giving up in your search for
> homes.> >
> > My advice is: ... Ready to move in Bank owned town
> > houses with all new carpets, new paints, new
> > appliances ... is your BEST option at this moment.
> > This investment will allow you guys to save on TAX
> > and build up your Equities for your Dream Home in
> > the next few years.> >
> > Believe me I did want to tell you this at First
> > but ... at that time it is Not the right time yet.> >
> > NOW ... I hope it is the right time ... Think
> > about it and let us know and remember you are
> always
> > in good hands with us.
> > Sincerely
> > Vinny Tran
> > (714) 531-2678

Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Video: My OPEN HOUSE

Video: My OPEN HOUSE
If You driving around "Little Saigon" area and happen to see the YELLOW OPEN HOUSE of Mr. "Little Saigon" & associates then stop by to say hello ... at our open house we usually put out more than 25 signs out there to Direct Buyers to our seller Homes ... Buyers and Sellers in the area Love to visit us at our OPEN HOUSE ... Time for them to update their Real Estate Market Info ... Nosy Neighborhood ... Old Clients Just want to stop by and say HI ... Other peoples Just want to know who the Hell is Mr. Little Saigon :-)???
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Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

For Sellers Only - How To Sell Your Home For TOP DOLLAR in The QUICKEST Time ...

When you decide to sell, the first thing to do is investigate the local housing market.

Consult the large real estate sites, like Realtor.com, Zillow.com and HomeGain.com to see how similar homes are priced in your neighborhood. Many newspapers also list the selling and asking prices of recent sales, plus how long the houses were on the market. Note the prices for your neighborhood during the last several months.

Check how sales were running, say, a year ago, so you get an idea of whether the market is heating up, cooling down, or staying put. This exercise should give you a sense of what your home is worth.

Selecting an agent
You may decide that you can sell your home without an agent. It's an attractive thought, since you would save the 6 percent of the selling price that a broker typically collects. But balance that against the work involved in advertising a house and being available at all hours to show it.

If you do decide to work through an agent, ask for referrals from friends or check the Web and local newspapers for advertisements. Don't simply accept any recommendation. Make an appointment with an agent and interview him or her for the job.

Evaluate the person as though you were a buyer: Is he or she professional and personable? Does he say the right things to make you want to see the home? Also, since the agent will likely be able to advise you on a selling price, how well does his or her price jibe with the homework you did on your own? Don't be fooled by an agent who is merely flattering you with an inflated price. Go by what you already know about your house and the current housing market.

Ask whether he or she will be the agent actually showing the house. Some brokers have specialists whose main duty is to win the listing. Then another of the broker's agents takes over.

The lowdown on commissions
Once you find an agent you like, you have to formally sign a listing agreement. This is a contract, laying out the specifics of your arrangement, including how long you will let the agent represent your home and what the compensation will be.

Many agents prefer an exclusive listing, meaning you agree to pay a commission regardless of whether the agent is actually responsible for finding the seller. You should commit for no longer than three months (one month, in a hot market). In case you find the agent lacking in enthusiasm, you don't want to be locked into a bad situation.

When you discuss the listing agreement, discuss other issues as well. For instance, if there are certain times when you want the house off-limits for walk-throughs, let the agent know.

Also, consider negotiating the commission. If your house is expensive, an agent might not flinch if you suggest 4 or 5 percent instead of the usual 6. Conversely, if you know it's a buyer's market, consider offering the incentive of a higher commission if the agent can land you a sale within 5 percent of your asking price.

After you've signed a listing agreement, you may want to give your lawyer a call to notify him or her that you're selling your house and will need help reviewing bids and contracts. If you don't want to pay for a lawyer, your agent should also be able to guide you through this process.

Getting ready for an open house
Whether you sell on your own or work with an agent, you'll want to spruce up your house before it goes on the market.

Take an objective look at it: Is it cluttered? A little worn and tired? Consider a new paint job. Tidy up. Move unneeded furniture into the attic, basement or rented storage. Remove some of your personal items, like family pictures and knickknacks. Mow the lawn. Plant flowers, if it's the right season. These seemingly insignificant details can add many thousands of dollars to your eventual sales price.

If you're no good at this kind of thing, consider hiring a home "stager," someone with experience preparing homes for showings. Their fees can be more than offset by quicker sales and higher selling prices.

Speaking of which, you'll need to settle on an asking price. In doing so, forget what you originally paid for the house, how much you've spent on renovations or remodeling, and even how much money you need to move on to your next home. When it comes to pricing your property, the only yardstick that matters is what comparable homes are selling for in your neighborhood now -- which may be more, or less, than you sank into it.

Your research will already have given you a good idea of how the market is faring. Your agent should also provide you with comparable sales and discuss why your house should be priced higher or lower.

Timing is the key
Also note how long the homes were on the market. If you're in a seller's market, with listings moving in a week or two, think about adding a premium to the asking price.

In a buyer's market, it's especially important to get the price right. The critical selling time is within the first month after your home hits the market. If the price is too high, you'll turn off potential buyers and agents and then have a hard time attracting them back, even if you lower your sights later.

When you receive a bid via your agent ask for guidance in how to respond. This will depend on how you priced the house, what the housing market is in your area and your urgency to sell or wait for a better price.

Make sure your lawyer or agent reviews the contingency clauses included with the bid. For example, it's generally not a good idea to agree to sell your home with the contingency that the buyer must first sell his or her own home.

Also make sure that all the buyer's contingencies are restricted within specific amounts of time. For instance, if the deal is contingent upon the home passing an inspection, then the inspection must occur within a week to 10 days of an accepted bid. The same is true of the closing date: Make the buyer commit to a reasonable date, usually 45 to 60 days from acceptance.


Video: How To Sell Your Home For TOP DOLLAR in The QUICKEST Time ...

If You Want To Sell Your Home Fast And For TOP DOLLARS in the next 30 Days then this 9 minutes VIDEO loaded with SELLER TIPS is for you ... LOW BUDGET with HIGH RESULT of "Power Repair" and "Cosmetic Touching Up" + The DO'S and DO NOT'S when selling Your Home FAST and For TOP DOLLAR ... This "AWSOME VIDEO" will SAVE you TEN OF THOUSAND of DOLLAR GUARANTEED.
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TESTIMONIAL Videos from our happy sellers to watch:
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Let meet Bill & Mary ... Whom could not sell their Anaheim's home for 6 months with other agent untill ...


Let meet Bart & Sharon


Let meet Peter & his Family


Let meet Scott & Kathleen


Their Homes and hundred other homes are SOLD by us ... We can help sell yours too !!! ... Your home SOLD in 45 days or we'll buy it for cash !!!



Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Housing: Best time to buy in four years

Housing: Best time to buy in four years
By Les Christie, CNNMoney.com staff writer
Mar 6th, 2008
Home values have declined across the country, giving homebuyers the best buys they've had since 2004.
NEW YORK (CNNMoney.com) -- It may be the best time to buy a house in more than four years.
Home prices have dropped so quickly and so far that valuations - the difference between what a home should cost and its actual price - are the lowest they've been since 2004, according to a report.
The Cleveland-based bank National City Corp. (NCC, Fortune 500), together with financial analysis firm Global Insight, revealed Tuesday that more than 88% of the 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007.


Housing rescue: What you need to know


"Housing valuations are almost back to long-term norms," said National City's chief economist, Richard DeKaser. He called current affordability "the best in the past four years."
But DeKaser cautioned that home prices could fall even further.
"This isn't to say home price declines are over," he said. "We could move below historic norms. By the end of 2008, housing markets could be broadly under valued."
Prices still improving
There are still 21 housing markets, or 6% of those surveyed, that are severely over valued, including Atlantic City and Madera, Calif. That's down from 56 overvalued markets at the peak of the housing bubble in 2006.
The report compares actual median home prices with what the authors determine are proper home values based on population density, relative income levels and interest rates, as well as historically observed market premiums or discounts, to determine whether markets are over or under valued.
The report also factors in market intangibles that make some areas more desirable places to live, and more expensive.
"Declines are no longer confined to once-frothy markets," said DeKaser.
The survey covered home valuations during the last three months of 2007, but DeKaser pointed out there's reason to believe that valuations are even more favorable for buyers today.
Price declines have continued into 2008 and interest rates, although they have inched up lately, have been steady or lower compared to late last year. There have even been wage gains; personal income rose 0.5% in December. Soaring foreclosure rates have added inventory to many housing markets, depressing home prices further.
The biggest gains in affordability occurred in California, Michigan and Florida, which are areas that have also been some of the hardest hit by foreclosures. Those states registered 43 of the 50 biggest price declines.
Bend, Ore. currently tops the overvaluation list. Home prices there were judged to be about 59% higher than their fair-market value. Miami, despite a median home price decline of 5.7% last year, is the most overvalued big city, by 44%.
All the best bargains were found in Louisiana and Texas. Houses in Houma, La. were under valued by 31.2%, according to the report. Dallas was the most undervalued big city, by 30%.
Hope Now: We've helped 1M home owners

DON'T MISS THE BOAT THIS TIME !!!

Remember our services are FREE and you're always in good hand with us, Nancy and I we love to helps and represent you and your Family in the search for your Dream Home ... If you have any questions or simply just want us to show the properties you found by using our Searching Tool, Please do not feel hesitate to give us a call at (714) 531-2678 or email us at mrlittlesaigon@yahoo.com

Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Thu Feb 14, 2008
Kinh Thua Quy Vi,

Bat' dau` buoc' qua TET toi co' rat' nhieu` BUYERS (My~ va` Viet) bat' dau` goi. vao` de^? kiem' nha` FORECLOSURES mua.
Toi co' cam? tuong? la` thi truong` Dia Oc' se~ bat' dau` "Chuyen Dong" tro? lai trong vong` 6 thang' nua~ vi` Hit Bottom.
Theo kinh nghiem cua? toi Khi Dau` Tu vao` Dia Oc khong nen dung` tin tuc cua? Media va` Bao' chi' de^? quyet' dinh cong viec vi` vao` luc' do' la` da~ qua' tre^~ roi^` ... tin tuc cua? Media va` Bao' chi' chi? la` LA BAN` huong' dan~ chung' ta ve` su Phat' Trien? hoac Suy Giam? cua? thi truong` ma` thoi ... Trong thi truong` Dia Oc .. DAY LA` THOI` CO* TOT^' cho nhung~ ai nhin` thay' co hoi nay`:

1) Vat Lieu Xay Cat' Tren THE GIOI' da~ va` dang bi TRUNG CONG Thau mua rat nhieu` nen gay ra tinh` trang khan hiem' Vat Lieu .... Se~ gay ra gia' nha` moi' muon' duoc xay cat' se~ tang len mau chong'.
2) Xang Nhot' (OIL) cung~ vay ... Tang gia' vun vut khien' vat gia' leo thang kinh khung?
3) Nha` California cach' day 2 nam ... neu^' gia' 1 can 4 plex la` $1,000,000 bay gio` chung' ta co' the^? mua voi' gia' khoang? $750,000 ... Vi` nha` tut gia' nen MAC CA? va` TRA? GIA' nha` voi' chu? nha` co' phan` de dang` hon rat nhieu ... Dau Tu vao` Dia Oc' co' Loi. - Benefit ve` thue' ma' tax nua~
4) Phan loi` TUT GIAM 30 nam FIX khoang? 5.375%
5) TIEN EURO tang manh khung? khiep trong khi US Dollar tut giam? The Tham
6) STOCKS khong phai? la` noi bo? tien` vao` luc' nay`
7) BONDS Return qua' YEU'
8) DAU TU VN ... coi Phieu Luu qua'

Hien nay toi thay' toan` la` nhung dau' hieu TOT de DAU TU dia oc vao mien Nam California ... Theo toi khoang? tu` 3 cho toi' 6 thang' nua~ la` THOI DIEM KHONG THE BO? QUA DUOC ve` dau tu DIA OC tai California ...

MUA KHI TAT CA MOI NGUOI DEU BAN'
BAN KHI TAT CA MOI NGUOI DEU MUA

Khi nha` da~ HIT BOTTOM thi` se~ co' rat' nhieu` nguoi` se~ cung` nhau do^? Xo^ nhau ra di mua nha` tao tinh` trang CHEN LAN^' va` kich' thich' thi truong` se~ lam` gia' nha` tang nhanh, Phan Loi` Tang nhanh va` Tra? gia' rat' la` kho' khan.

Neu anh em nao` DAU TU vao` DIA OC tai California ky` nay` (2008) khoang? 5 nam sau khi nhin` lai. (look back) anh em se~ la` nguoi` VERY VERY HAPPY vi` da~ nghe loi` khuyen^ cua? toi.

Good luck to you all
Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Note: Neu anh chi co' nguoi` quen muon' mua nha` dau tu vao` dia oc tai vung` Orange County xin gioi' thieu cho tui nay` ... Xin cam on truoc' - Vinny Tran/ Nancy Do

Home Buyers Understand What Is "SHORT SALE"???

Home Buyers
Understand What Is "SHORT SALE"???

Short Sales Are No Bargain for Buyers
From Elizabeth Weintraub,
Your Guide to Home Buying / Selling.
FREE Newsletter. Sign Up Now!
11 Reasons for Not Buying a Short Sale
Short sales happen when home values fall and sellers do not receive enough cash from a buyer to pay off their existing mortgages, providing lenders agree to take less than the amount owed to them.
On the surface, it may appear that a short-sale buyer is getting a good deal. Although a slim margin of short sales may be profitable for a buyer -- because there are always exceptions -- much of the time, a buyer would be better off buying a home that is not in default.
You are unlikely to hear real estate professionals tell you that it's not a good idea to buy a short sale. In part, that's because real estate professionals profit on a short sale. Everybody makes money except the sellers and buyers. Realize, too, that listing agents might push sellers to list as a short sale, because if the sellers went through foreclosure, the listing agents will not get the listing.
Here are 11 Reasons Why Buyers Might Not Want to Buy a Short Sale:
1) Sellers Paid Too Much.
If a home sold for $500,000 a few years ago and is now for sale at $400,000, that doesn't mean the buyer is picking up $100,000 of equity for free. It means the seller paid too much in a rising market and now the market has fallen. It means the seller has no equity.
2) Sellers Borrowed Too Much.
Banks that were eager to lend money in appreciating markets sometimes allowed borrowers to over-mortgage the home, meaning the borrower's loan balance exceeded the value of the property. Appraisals are subjective, and not all appraisers will place the same value on a home. Although against the law, some appraisers are pressured by banks to appraise at the amount the home owner wants to borrow.
3) Stringent Qualifications.
Inexperienced or unethical real estate agents might push a seller into considering a short sale when the seller does not qualify for a short sale. Sellers must prove a hardship and submit evidence of the hardship to the lender for approval. Some agents list homes as short sales without ever talking to the lenders or pre-qualifying the sellers.
4) Homes Sell at Market Value.
Lenders aren't naive or unaware of the value of a home. Lenders will insist on a comparative market analysis, known as a CMA, or broker price opinion, known as a BPO. If a lender believes a better price can be obtained by taking the property back in foreclosure over a short-sale offer, the lender may hold out for a higher price. That price will be close to market value. Lenders accept short sales when the home is worth the short-sale price, which means market value.
5) Homes Sell "As Is".
If a mortgage company agrees to a short sale, it is most likely also paying the closing costs in the transaction. Lenders ask buyers to purchase the home in its present condition. Lenders typically will refuse to pay for:
Suggested repairs disclosed on a home inspection.
Pest inspections or work necessary to issue a clear pest report.
Roof certifications or roof repairs.
Home protection plans for the buyer.
Deferred maintenance.
6) Length of Time to Close.
Depending on when the Notice of Default was filed, the lender's back-log of foreclosures and how much paperwork the seller has already submitted, it could take anywhere from two weeks to two months to get a response on a purchase offer from a lender. In addition, if two lenders are involved because there are two loans secured to the property, it could take longer to satisfy the demands of the second lender.
7) Lenders Can Change Conditions.
Some lenders reserve the right to renegotiate the terms of the short sale at the last minute. If the market changes, new laws pass or new information crosses the lender's desk, the lender can attempt to change the terms of the contract. Lenders generally have lawyers at their disposal, and ordinary buyers do not.
8) Lenders Discount Commission.
I don't know of any lenders who are paying traditional real estate commissions to real estate agents. They will want a discount. Moreover, agents end up doing two to three times the work of a conventional transaction and don't appreciate getting paid less to do more work. If you have agreed to pay your agent a certain percentage under a buyer broker agreement, you could be liable for the difference between what the lender will pay and what your contract stipulates, if your agent refuses to waive the difference.
9) Higher Buyer Closing Costs.
Because lenders rarely will pay for any extras, like a seller would be willing to do, if you want any of those extras, you will pay for them yourself. Sometimes lenders will refuse to pay for standard seller closing costs such as transfer taxes, too. If you want specific inspections, you will probably pay for them out-of-pocket.
10) Lose Control of Transaction.
If you need to close escrow by a specific date, lots of luck with that. A short sale home closing process takes an indefinite amount of time. The seller's lender calls the shots, not the buyer nor the buyer's lender. If you are trying to close escrow concurrently with the sale of your home, it might not happen.
11) Little Seller Motivation.
When the seller discovers that the short sale effect on credit is identical to that of a foreclosure, there is little incentive for a seller to cooperate with a short sale. There is no benefit to a seller to consider a short sale and move out before the foreclosure is concluded, except for peace of mind that the nightmare is over.
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Nancy and I we really hope that the above informations will help you understand more about buying SHORT SALE homes and how it work? ... Understand how Short Sale homes buying work will save you as buyer a lot of times and frustrations, If you have any questions regard to Short Sale please give us a call at (714) 531-2678 or Email us at mrlittlesaigon@yahoo.com , Good Luck and Good House Hunting.

Sincerely
Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Hi Guys

Just testing to see how this blog's stuff works and hope that will see many of you visit my BLOG site.
Many Peoples in Little Saigon and surrounded area know me by my nick name (Mr. "Little Saigon") rather than my real name ... Vinny Tran.
And the pretty lady stand next to me is my "HOUSE" (Nha Toi) Nancy Do ... For which of you Never get invited to Vietnamese wedding :-( (Poor you) the traditional dresses that we wore called "Ao Dai" and the funny Hats called "Khan Dong" ... THE MUST HAVE dresses when you Wed's to Vietnamese.
To make the long story short about how I got my nick name ... Once upon a time almost 15 years ago when I first starting out in my real estate carrier with ... Century21 A Neighborhood Emporium in Fountain Valley ... I don't know because of my SEXY SMILE or my Luck? I have many Vietnamese Clients trusting me and ask my help to find them a place call home here in the Sweet Little Saigon ... I remember even though it was rough and tough but some how with Luck I always put on the Company Monthly Report Activity 2 to 5 sales a month and a funny thing is I thought that is the way for a normal agents to do ... But I notice things start changing about me ... Pretty soon my boss called me in and says ... OH some other agent just moving out you want his office ? (later on I find out that He's just FIRE that poor agent because of poor performance) ... Peoples in my office start making fun out of me in a friendly way by greeting me with something like ..."Little Saigon Man" or "Little Saigon Super Star" and I think one of the agent in there could be ... Scott Tracy !!! ... called me "Mr. Little Saigon" then things start happened from then.

Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678