Gary Watts has long been recognized as a forecasting expert by the real estate industry. His long-term analysis has also drawn the attention of the media due to his consistent accuracy. His Economic Outlook has been spotlighted in regional newspapers, including the Orange County Register and the Los Angeles Times. He has been seen on the PBS TV program Real Orange, and he has been a featured advisor on real estate forecasting roundtables. He holds a degree in economics with advanced studies in psychology from California State University at Sacramento. 

The housing market below $250,000 has most likely reached the bottom
Prices now in the $350,000 range are close to the bottom.
The rest of the housing market still suffers a restructuring of prices. 
Expect foreclosures and short sales to dominate the market through 2010.
Listing inventory should rise due to the large number of foreclosures set to enter the market.
The credit conditions should greatly improve, bringing more buyers into the market place.
Demand for properties will continue to be higher than the past three years.

Recently, my office has received calls from concerned homeowners about property valuation in a declining market and what implications it may have on their property taxes. Home owners are asking, “Why are my taxes going up when my value is going down?” Here is a good explanation that was recently printed in Supervisor Pat Bates newsletter. “There are two values to look at when considering property taxes: the Market Value and the Proposition 13 Taxable Value. The Market Value is what the property would sell for in an open market transaction. The Prop. 13 Taxable Value is the Market Value of the property when it was purchased, plus a Consumer Price Index (CPI) adjustment of up to 2% per year, plus any new construction. In calculating property taxes each year, the Assessor compares these two values and the lower of the two is always used.Therefore, even if a property experiences a decrease in Market Value, if the Market Value is still higher than the Prop. 13 Taxable Value, a CPI adjustment may be added by up to 2% annually. Using this formula, taxpayers always benefit because they always pay the lower of the two amounts.” For more information about Market and Taxable Values, please click here. You may also contact the Assessor Department with any questions by calling (714) 834-2727 or visiting www.ocgov.com/assessor

         Are you “On The Fence” About Buying a Home?

• It helps transform the mortgaged-back securities.
  This keeps access to capital for borrowers high and
  interest rates low.

• Conforming/jumbo conforming rates should drop in
  the coming weeks by as much as a percentage point.

• It improves confidence in the stock market allowing
  investors to once again realize profits, which they in
  turn can re-invest in mortgages.

• Credit will flow again bringing new, qualified buyers
  into the market to take advantage of the investment
  opportunities currently available.

• Modified mortgages will allow some homeowners to
  restructure their mortgages and avoid foreclosure.

If you’re on the fence, now is an excellent opportunity to realize
dramatic savings on a home purchase before the market shifts,
and we begin the next ‘UP’ stage of the cycle.

Just came back from a cruising through the Tahitian Islands.http://tinyurl.com/5c749c

  3 Via Onza, Rancho Santa Margarita - Listed for $735,000 

Sold with mulitple offers in less than one month

 5 suggestions to ensure a successful real estate sale in Rancho Santa Margarita

1. Go green: Lawns tend to get greener after August when the nights get cooler. It’s also a great time to seed and fertilize your lawn if there are any bare spots or the grass is thin.

2. Add color: Plant mums or other colorful plants that will thrive in the fall. This will give your landscape color and vibrancy when everything starts to fade from the summer.

3. Details matter: Trim shrubs and trees on your landscape. Make sure things look sharp and neat.

4. Keep it clean: Tidy up your yard; put away hoses or superfluous lawn ornaments. Change over the general theme (if you have one) to an earthier, fall tone.

5. Preserve wildlife: Attract a little friendly wildlife to your lawn by putting out a birdfeeder.

6. Sparkle and shine: Wash your windows and your screens. As fall arrives, the arc of the sun changes and it’s easier to see dirt on windows; removing screens entirely will also help keep a clean, clear view through the windows.

7. The time is right: Make sure you adjust any automatic timers. As days begin to shorten, ensure automatic lights along the house or walkways come on when it starts to get dark.

1. Do your online search and check out if the agent has a web presents and how the current listings are showcased to the public. http://www.realtor.com

2. Also ask agents to show you their marketing plan check list, a good agent will have a detailed list when what needs to happen for marketing your home. Our team utilizes a software program were we set the plan up and when we start the marketing process all the items come in our daily to list for each team member to be able to execute what needs to be done to expose your home to the public and to the Realtors. We post on many different websites and test that all the pictures are posted. For example when we reduce a price we pull in a plan that has 12 steps one of them is to notify all buyers and agents that have shown the home. On Wednesday we decide what homes to hold open for the weekend, again we pull in a plan and my assistant is directed by the plan of all the postings and notification we will have to make to have a successful open house.
The beauty of this is that at any time we can make a change in the master plan which we do often as our industry is forever changing. So make sure your agent has a detailed plan and an assistant to help. http://www.margomurray.com
Continue reading ‘5 Reasons Why your home may not sell?’

“Come out and play with us at the park!”
Is your gym routine getting stale? Mix it up a little and participate in this fun yet challenging group exercise class at Central Park. Riech Personal Training & Coaching will individualize your program to suit your fitness level. Sessions with Riech Personal Training are 4 weeks long; 2 or 3 days per week. Classes will include a warm-up, stretching routine, running, functional and core strengthening, and a cool-down.

Classes are taught by Todd Riech, former Olympian, and Lisa Riech, licensed physical therapy assistant and highschool track coach.

Please bring a workout mat and a pair of dumbbells. Recommend weights: 5 lbs. for the beginner level, 8 lbs. for the intermediate level, 10-12 lbs. for the advanced level.

Date/Time: Tuesday, Thursday & Saturday
Session 1 - February 12 - March 8, 6:00 a.m. or 9:15 a.m.
Session 2 - March 18 - April 12, 6:00 a.m. or 9:15 a.m.
Location: Central Park, 30842 La Miranda
Fee: $120 for 3 days/week (or $80 for 2 days/week)

To register or for more information on classes contact:
Riech Personal Training & Coaching 949.413.5768
http://www.toddriech.com or info@toddriech.com

MyTemp™ is a room-by-room temperature control and energy management system for homes with forced-air heating and cooling. It solves one of the most perplexing comfort problems you face as a homeowner: maintaining comfortable temperatures in every room of your home. No more cold spots or hot spots; no more uneven temperatures upstairs or downstairs; just superior temperature control . . . and that’s just the beginning. Here are a few more reasons why you’ll love living in a home that has MyTemp room-by-room temperature control: Continue reading ‘Room by Room Temperture Control’

On CNBC’s Parting Shot on June 27, 2008 Dennis Kneale’s commentary tried to put some perspective on the reality of the housing crisis compared to the way the news media likes to glamorize doom and gloom. He provides a refreshing approach, rather than the gloom and doom that the media has provided. CLICK HERE to watch video.

Here is an outline of his talk.

1/3 of all homes are owned outright, no loans
1/2 of all homes were purchased prior to 2000 and have equity.
95% of homeowners are paying on time.
which leaves 5% or 4,000,000 of homeownes at risk.