Saturday, November 29, 2008
Shevy Akason | www.findmylandmark.com launches Newport Beach Real Estate Page
Shevy Akason and Associates, www.findmylandmark.com, launched Newport Beach Real Estate page at the Newport Beach real estate link. The page includes links to some of the best things that newport beach has to offer including Newport Back Bay, Newport Harbor, The Newport Pier, The Orange County Museum of Art, Newport Sports Museum, The Balboa Bay Club, The Crab Cooker, Pelican Hill Golf Club, Corona Del Mar State Beach, Crystal Cove State Park, and the Catalina Flyer. In addition, the page offers a link to the exclusive search page that allows visitors to search thousands of property listings available throughout Orange County. Watch for coming pages including community pages for Corona Del Mar, East Bluff, Lower Newport Bay, Balboa Island, Newport Heights, The West Bay, and West Newport- Lido. These pages will include information on schools as well as fun things that the communities have to offer.
Friday, November 28, 2008
Shevy Akason and Associates Launches new web site
I hope that this web site can be a tool for past, present and future clients. I'm looking forward to feedback that can help me to improve the site. There are some features that I would like to point out that can be great tools. The site address is: http://www.findmylandmark.com/
1) The MLS search tool this feature allows clients to search for properties in specific cities and communities. In addition, it allows them to filter properties by size and allows them to set up a search that will automatically notify them when properties that meet their criteria come available.
I believe that this is one of the most important tools that I can provide my clients and I'm currently experimenting with a couple of different search tools. My goal is to provide the best search tools to past, present, and future clients.
2) The community link
This link is a work in progress. It will eventually feature detailed information on all of the communities that I work in. Including floor plan information, school information, comparative market analysis, and much more. It also connects to the National Center for Education Stats and Greatschools.net which provide valuable tools for researching schools.
3) Buyer/ investor services: I am often asked. "What do your services include or what is the benefit of having an agent" this section answers that question. In addition, it gives helpful advice on what to do and what not to do prior to purchasing a home.
4) Seller Services Agents must truly be marketing professionals. This section addresses why Shevy Akason and Associates are the best agents to handle the sale of your property if you want to get top dollar in the shortest period of time possible.
5) Calculator
This feature allows one to calculate what their monthly payment will be based upon current rates.
1) The MLS search tool this feature allows clients to search for properties in specific cities and communities. In addition, it allows them to filter properties by size and allows them to set up a search that will automatically notify them when properties that meet their criteria come available.
I believe that this is one of the most important tools that I can provide my clients and I'm currently experimenting with a couple of different search tools. My goal is to provide the best search tools to past, present, and future clients.
2) The community link
This link is a work in progress. It will eventually feature detailed information on all of the communities that I work in. Including floor plan information, school information, comparative market analysis, and much more. It also connects to the National Center for Education Stats and Greatschools.net which provide valuable tools for researching schools.
3) Buyer/ investor services: I am often asked. "What do your services include or what is the benefit of having an agent" this section answers that question. In addition, it gives helpful advice on what to do and what not to do prior to purchasing a home.
4) Seller Services Agents must truly be marketing professionals. This section addresses why Shevy Akason and Associates are the best agents to handle the sale of your property if you want to get top dollar in the shortest period of time possible.
5) Calculator
This feature allows one to calculate what their monthly payment will be based upon current rates.
Huge drop in interest rates!
In previous articles I wrote about the signifigant impact of having a loan at 5.5% versus 6.5%. I just received this email from Dan Hrey of Chase. If one is thinking about buying in the near future there is a great opportunity now with these fantastic rates.
From Dan Hrey of Chase
Wednesday morning CNN Money posted the following information in regards to
an $800 billion infusion of federal funds into credit markets having an
immediate impact on mortgage rates.
Mortgage rates fell sharply yesterday after the administration announced
that it will pump another $800 billion into credit markets to free up
frozen consumer and mortgage lending.
That number dwarfed previous government actions aimed at bolstering the
mortgage lending market.
"The feds agreed to spend a half a trillion dollars to buy up mortgage
backed securities and another $100 billion to fund lending for Fannie and
Freddie; we're not talking chump change anymore," said Keith Gumbinger of
HSH Associates, a publisher of mortgage information.
Rates averaged 5.77% for the day on a 30-year, fixed rate loan, down from
6.06% Monday, according to Gumbinger.
This rate drop amounts to huge savings for homebuyers. Hence, many experts
think that this drop in rates will surely help spark our real estate
market.
If you need any assistance please contact me at: 949.769.1599.
From Dan Hrey of Chase
Wednesday morning CNN Money posted the following information in regards to
an $800 billion infusion of federal funds into credit markets having an
immediate impact on mortgage rates.
Mortgage rates fell sharply yesterday after the administration announced
that it will pump another $800 billion into credit markets to free up
frozen consumer and mortgage lending.
That number dwarfed previous government actions aimed at bolstering the
mortgage lending market.
"The feds agreed to spend a half a trillion dollars to buy up mortgage
backed securities and another $100 billion to fund lending for Fannie and
Freddie; we're not talking chump change anymore," said Keith Gumbinger of
HSH Associates, a publisher of mortgage information.
Rates averaged 5.77% for the day on a 30-year, fixed rate loan, down from
6.06% Monday, according to Gumbinger.
This rate drop amounts to huge savings for homebuyers. Hence, many experts
think that this drop in rates will surely help spark our real estate
market.
If you need any assistance please contact me at: 949.769.1599.
Sunday, November 23, 2008
Friday, November 21, 2008
Deal of the week---- look at this
City: Orange County!!! wow---- Call 949-769-1599 for more information or to schedule a showing
Asking Price: $209,900
Downpayment needed: $6300-$42,000
Interest rate 6%
Number of years 30 year fixed fully amortized
Property tax and
special taxes/levies (estimated) 1.25%
HOA: $310
Maintenance and replacement
reserves 1%= 175$/month
Income Requirement: $60,000
Total Cost of ownership= $1643.63
Rent comps estimated= $2200/month
Address: Contact Shevy Akason at 949-769-1599
Beds: 3
Baths: 2
Sq. Ft.: 1600 square feet
$/Sq. Ft.: $128.93
Lot Size: 0
Year Built: 1967
Stories: 1 story second level
Listing agents description:
This is a private upper corner Condo that features 3 bedrooms, 1 3/4 baths. Master bedroom has its own bathroom with dual sinks and walk-in closet. Condo overlooks lush green landscaping in a courtyard. Big windows throughout, open floor plan, good size rooms, walk in closets, and fireplace in living room. Close to Metro, fwys, parks, schools, shopping and entertainment.
Shevy's analysis: I have had an opportunity to preview this home. It is in a solid B area witha mix of owners and renters. I spoke with a few people that lived there and they all really like it. It has huge green belts and is very quiet. The community was build in the 60's and it's a bit old, however, this is a fantastic investment opportunity for a buy and hold investor. This home could use between $10,000- $20,000 in upgrades to modernize it, however 0 upgrades are necessary. This property could make an excellent lease for an investor looking to purchase for the long term using a 30 year fixed fully ammortized loan or for a first time homebuyer.
Look at these numbers, this property could be a great hedge against the potential inflation that current policy could bring. In addition, because of the cashflow it's a relatively safe investment. Take advantage of todays really low interest rates before they're gone!
Friday, November 14, 2008
Learning from our mistakes- markets are indeed cyclical
The lessons that can be learned from the Great Depression, The Savings and Loan Crisis, as well as Japan's economic collapse of the 1980's, are essential if we wish to move forward to a stronger economy and better country. When the last up cycle was in full swing I remember trying to communicate that the market is cyclical and that we cannot have 20% appreciation forever, that interest rates are historically low and that the risk of financing a home using an ARM loan with a teaser rate is greater than most should take. Explaining that when appreciation dies down and rates eventually go up one has no insurance,no protection, and very few options. While with a 30 year fixed loan and an amortized payment that one can afford today there is a level of protection. Generally rents and incomes will rise, however, your payment will never change. Nevertheless, many were caught in the herd mentality and wild appreciation of the market. Of course we now see that the market is cyclical. Unfortunately, when in an up cycle people believe that the upswing is different. The link below was produced by National Public Radio offers a fantastic comprehensive overview of what created the credit crisis.
That being said, great fortunes are made in recessions, especially at the end of recessions. Many of the smartest investors have prepared themselves for the opportunities that will arise over the next two to three years. Orange County has a lot going for it including the relative affluence of the county, fantastic weather, and relatively strong economy. The question is how many people are living beyond their means? In general, I have seen a large number of foreign investors coming in and purchasing homes in Orange County, many call cash. Moreover, there was a home 3 weeks ago that was priced correctly and received 17 offers in 3 days. Will Orange County ever reach rental parody as some argue? That's a question that only time will be able to answer. Home prices will rebound, however it is important to take lessons from the current market and make sure we do not repeat the same or similar mistakes again.
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355
This program regarding the housing crisis explains the correlation between wall street and the credit crisis, why banks made half-million dollar loans to people without jobs or income, and why everyone is talking so much about the 1930s, and the giant pool of money that created this. Ironically the first interview was completed at an awards dinner for finance professionals who created the instrument that nearly brought down global economic system.
That being said, great fortunes are made in recessions, especially at the end of recessions. Many of the smartest investors have prepared themselves for the opportunities that will arise over the next two to three years. Orange County has a lot going for it including the relative affluence of the county, fantastic weather, and relatively strong economy. The question is how many people are living beyond their means? In general, I have seen a large number of foreign investors coming in and purchasing homes in Orange County, many call cash. Moreover, there was a home 3 weeks ago that was priced correctly and received 17 offers in 3 days. Will Orange County ever reach rental parody as some argue? That's a question that only time will be able to answer. Home prices will rebound, however it is important to take lessons from the current market and make sure we do not repeat the same or similar mistakes again.
http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355
This program regarding the housing crisis explains the correlation between wall street and the credit crisis, why banks made half-million dollar loans to people without jobs or income, and why everyone is talking so much about the 1930s, and the giant pool of money that created this. Ironically the first interview was completed at an awards dinner for finance professionals who created the instrument that nearly brought down global economic system.
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