A Little Something Extra

A Brief Window Opens

A little extra purchasing power, for a short while

After hearing that the Federal Reserve is not going to taper off on it’s purchase of mortgage backed securities and will continue it’s 85 billion dollar a month bond buying habit, I am relatively certain we will have a dip downward in mortgage interest rates, albeit briefly.  What this means is a slight but significant, short-term increase in buying power for buyers not afraid to act quickly.  For home buyers who have not taken a look at the residential real estate market post-Labor Day, take note of another advantageous position: a serious drop in active home seekers.

A little more power and a little less competition between buyers

If there is ever a real life example of the benefits of going ‘against the grain’ and seeking out homes to buy as we leave a very busy summer market and head into a more-than-expected slower fall market, we are looking at the personification of it right now.  It will take speed and decisiveness as a home must ideally be selected (even appraised) before a buyer should ‘lock’ an interest rate with a lender.  Put another way, if a buyer is willing to move quickly and decisively, they will have a shot at getting a better bang for the buck which might disappear in less than a month.

The tools and resources are there, so no hesitation please

As the economy improves, as the rule of thumb goes, mortgage interest rates climb higher and conversely buying power shrinks lower.  The ‘sweet spot’ is being in a reasonable financial and credit position just ahead of the recovery trend, enough that the buyer can capitalize on lower mortgage rates in the case rates currently artificially lowered by the Federal Reserve announcement reversing the earlier decision to reduce purchasing bonds (which spurred the early July rate spike). Not since the onset of the financial crisis have mortgage loans been easier to close and not since last winter have their been this few buyers, a sharp contrast to the summer frenzy. If you want to seize a moment of slightly increased buying power, there is no room for hesitation, let's get started quickly!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Off The Fence and Into The Game

Getting Your Head in the Game
Recent mortgage rate spikes and retractions created inspiration

I've noticed more buyers are in the market, not just in my personal local experience, but nationally.  In what I see as an initial panic over sharp mortgage rate increases and an opportunity to regain some lost ground as the increase retracts a little, the fence is clearly no longer the place to be if you are considering home ownership.  While I will echo the sentiment of one of my previous blogs from July (when we first saw mortgage rates increase), DON'T PANIC, I will say buyers have been given a reprieve thanks to the relatively "soft" presentation of Fed Chairman Ben Bernanke on Wednesday, July 17th.  The assurance that the Fed won't be tapering off too much on the purchase of mortgage backed securities, differing slightly from what he hinted at earlier this quarter, created a welcome ans slightly calming effect on mortgage rates and thus preserving some of the buying power of those looking to buy a home.  Over two months after the initial rate spike we saw at the end of June and on July 5th in particular, has nonetheless added some real urgency and knocked real estate spectators off the fence and into the game.


So you want to buy a home before rates go up further, now what?


I'll say it a different way: don't be overly anxious just because you know your buying power has been hindered a little and is showing signs of future vulnerability.  The reason why people go to a real estate professional is to mitigate the anxiety (among many other reasons) over all the moving parts involved in looking for and finding a home and there is no point in trying to babysit every nuance in the mortgage or real estate markets; fearing potential outcomes.  First order of business is get a good 'ally' in your camp who meshes well with your personality and speaks your language.  Not only is home buying a huge financial commitment, it is a huge emotional commitment and you will want to work with someone who you can relate to, pure and simple.  A good real estate agent has not only the skill, knowledge, ethics and experience with all the mechanics of the transaction, they will help you cope with the added stress.


But wait, there's more... much more


I spoke in my last blog about the obvious concerns when buying a foreclosure property, but recognize that no house is ever perfect; you will need to prioritize and follow those priorities as they will be your subjective decision making guide.  Many buyers, including some of the ones I know personally who have recently been 'scared' off of the fence and are now contacting me, have a tendency to get caught up in the general characteristics of a home such as bed and bath count, square footage, lot size, etc.  While these may be important indicators for initial consideration as to whether or not a home meets your basic needs, do not forget equally crucial elements such as amenities, noise level and other factors which impact your long term enjoyment of the home.  Especially for first time buyers, factor in maintenance costs for after the home is officially yours (and your responsibility alone).  Even new homes will need some upkeep and care, sooner than you might think.  Some buyer's remorse is very understandable, even for people who have purchased before, so do your best to remember no home, like the humans who occupy them, is perfect.


Long term considerations about appreciation are fine, but a home purchase should be first and foremost about a warm and safe place to lay your head at night.

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Short Sale Stigmas (Still Surfacing)

Short Sales Are A Little Less Frequent
But after six years, you'd think we'd understand them a little better

For those of you who have ever tried to do a short sale on your home, or conversely, tried to purchase a short sale, you already know the term "Short Sale" has quickly become one of the most oxymoronic phrases of all time.  Especially during the onset of the economic crisis and the ensuing chaos which engulfed residential real estate, one could barely determine the difference between a short sale, a foreclosure, a deed-in-lieu or what impact a bankruptcy proceeding had on one's real estate.  Even cash investors, who had been waiting for the real estate bubble to burst, were often met with a banking bureaucracy overlaid with a rapidly emerging regulatory bureaucracy and none of the fingers on the same hand (let alone the right and left hands) knowing what the other was doing.  Distressed real estate has since become an institution unto itself, and while there are signs of the 'stress' in 'distressed' subsiding, there are still plenty of distressed real estate properties on the market and plenty of confusion surrounding them.


Who represents who, exactly?


Many people still believe that the real estate agent selling a short sale home represents the lender on the home who is 'taking the loss' of the short sale.  This simply is not the case for a short sale, though it is true on homes that have already been taken back by the lender and are in the hands of an asset manager of some sort.  While the distressed homeowner is not the ultimate decision maker (the bank has final say in offer acceptance), they retain the right to choose a real estate professional to represent their interests in the sale of the home.  When a homeowner has obtained the agreement from the bank to do the short sale, the homeowner does submit to their servicing mortgage lender's final decision making, but it is not the lender's choice as to who the real estate agent will be.


What does this mean to buyers interested in a short sale property?


There may be a 'better deal' to be found in a short sale than a foreclosed property, but it's important to know who the players are and whose interests they are serving. Similarly, I'd add new legislation as yet another 'party' to the transaction on top of up to two lenders, the servicing lender who is currently 'holding' the mortgage note (performing service and collection of payment) and the investor lender who holds the financial interest of the note.  All these interested parties lead us back to the oxymoron potential of the term "short sale" but doesn't diminish the potential benefit from a short sale as a purchase.  Cash investors have lost interest with home prices stabilizing and "real buyers" can still get a good amount of bang for their purchase money buck from a short sale, provided they have the patience and wherewithal to see the transaction through given the inevitable multiple hands in the short sale cookie jar.


When the bank owns the property


Differing from the short sale, when a bank-owned (or "real estate owned" or "REO") property hits the market, the real estate agent selling the property represents the bank.  The bank is essentially, the seller, and the listing (selling) agent is representing the seller's (bank's) interest.  The plus side, for those of you who are thinking about purchasing an REO property now that cash investors have lost interest, there is one less party in the transaction and ideally a slightly smoother sale.  The minus side, it's still a foreclosure property.  If you haven't seen one up close, an REO property is generally not in that good of shape, no matter how "marketable" a bank has tried to make it look (or more specifically, required it's chosen real estate agent to make it look).  Just know your home inspection dollars as a buyer of an REO property will be money extremely well spent!


Buyers, it's your turn!


The exciting news overall is that buyers, not mass investors, are having their best chance at distressed real estate purchases since distressed real estate came to dominate the residential real estate market.  I have a lot more important information on short sales to share with you, the buyer or potential buyer, as we head into the fall and we see the market gear itself more to you, so stay tuned or reach out to me so we can collaborate!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Hope for "Boomerang Buyers"

The Federal Housing Administration Provides Some Hope


"Boomerang Buyers" take heart!

In mid-August, the FHA gave some hope to the many (I'd say a solid majority) of Americans who have been adversely affected by the debilitating economic downturn of the last six years.   In recognition of the overwhelming forces outside any one household's control which the prolonged economic crisis has caused, a special provision was put in place to observe an "Economic Event" when considering mortgage applicants who otherwise would be disqualified due to a recent bankruptcy, short sale, deed-in-lieu or foreclosure.  While I certainly believe even more flexible (though I'll be happy to never see negatively amortizing loans ever again) mortgage lending options should be accessible for today's buyers, the FHA is providing "boomerang buyers" a fighting chance.

How to tell if you are a "Boomerang Buyer"

Put simply, if you lost your home in the last six years, and want to get back into owning a home, you are what is commonly being referred to as a "boomerang buyer" implying your intention to "return" to home ownership.  Having since stabilized your income and eventually your recent credit to go with it, you may have regained some financial strength after having lost your home in any number of ways when the financial crisis of 2008 found it's way to your door.  Traditional mortgage lending (the only kind one can find today, apart from "private money"), meaning conventional (Fannie Mae, Freddie Mac) or government (FHA, VA) guidelines have until August required various and often extensive 'waiting periods' after a bankruptcy, short sale, deed-in-lieu or foreclosure which excluded many individuals and households who apart from the unavoidable effects of the economic decline, had solid credit history prior to and after the crisis hit.  Now, FHA at least is providing a true alternative.

Did you have an "Economic Event"?

The FHA has long been the bastion of old-school, common-sense and often "manual" underwriting practices, born in 1934 out of that other huge economic downturn known as the Great Depression.  The FHA, by way of the Department of Housing and Urban Development (HUD) now considers an "Economic Event" as an "extenuating circumstance" allowing borrowers to bypass waiting periods greater than twelve months otherwise required in the event of a bankruptcy, short sale, deed-in-lieu or foreclosure.  An Economic Event is defined by HUD as "any occurrence beyond the borrower's control that results in Loss of Employment, Loss of Income, or a combination of both, which causes a reduction in the borrower's Household Income of 20 percent or more for a period of at least 6 months," which may sound like someone you know if not yourself.  

You still need evidence of a minimum 12 months on-time payments

Common sense underwriting demands a clear documentation of events, showing not only steady credit history prior to the Economic Event, documentation showing the effects of the event itself and most importantly, twelve months of steady credit history after the Economic Event showing the recovery.   I should note this also promising information for first time home buyers who have been hit with a recent bankruptcy due to an Economic Event as defined by HUD and documentable as I described.  If anything I am describing in this blog entry pertains to you, and perhaps you felt like you would be forced to wait on the sidelines while mortgage rates ticked upward and your real estate purchasing power conversely ticked downward, I hope I have provided you some "real-time, real-life" encouragement concerning buying a home.  Contact me if this applies to you, let's try to make the most out of this opportunity while can!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Mortgage Rates Rise, But Keep Calm!

Mortgage Rates Rise Again
But don't panic, don't hide, and don't give up!

Would-be buyers, in case you hadn't noticed, your buying power just went on a diet.  Again.  But before you throw up your hands in frustration, kick yourself for whatever excuses you may have given for not entering the real estate market and go pouting off into a corner, remember you can still mitigate the loss and capture the remains of the day.  Yes you will need some expertise and strong plays in your playbook, but the game isn't over yet.  There is still enough of an economic window to seize the moment and capture an amazing home purchase.  On the flip side, don't be lulled into thinking mortgage interest rates will come back down in any significant way, what with the Federal Reserve not backing down and being highly unlikely to reverse the announcement that it would begin tapering off on the purchase of mortgage backed securities toward the end of the year.  This is a game changer which was bound to have the effect of well, what rates have done over the last three weeks and in particular the day after Independence Day last week.

Sellers, this means you, too

Yes, your buyer pool may have shrank.  A little.  But you are still an advantageous position, no need for you to throw in the towel, either.  Inventory is still lower today than it will be a year from now (when rates will likely be somewhat, if not significantly, higher), and multiple qualified offers are still the norm provided you have an experienced professional marketing and networking your home.  Keep at it, from your vantage point, ultimately, the mortgage interest rate increase means very little to you.

A little less home may be a good thing

As we lumber our way into some semblance of a historically "normal" real estate market, with normal levels of inventory, normal price appreciation and yes, normal interest rates, smaller homes increase in appeal as "starter" homes.  Add to this (again, historically normal) market phenomenon is the more unique phenomenon of the "boomerang buyer" in various stages of individual recovery.  The boomerang buyer, as I've mentioned in previous blogs, is shaking off the economic and financial downturn dust and re-entering the real estate game for which they were knocked out of years ago.  These boomerang buyers will be on the return swing for many years to come, and, you guessed, may need to take your smaller-than-you-had-originally-hoped home off of your hands at a stable price allowing you just enough equity to take the home size step you may have missed from the recent mortgage rate jump.

The worst of real estate market correction seems to be behind us; not too late to move forward!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Mortgage Basics Often Overlooked

What Every Buyer Should Know About Mortgage
But (especially with panic over rate hikes) may be too distracted to ask


The dire warnings of myself and most real estate and mortgage professionals have come to pass, but that's no excuse to allow the natural panic and change of strategy from an interest rate spike to distract a buyer from their due diligence.   Sure, residential mortgage interest rates have ratcheted rather quickly upward, enough to significantly change one's buying strategy.  Not only are buyers looking at roughly 10% less home buying power from a roughly 1% jump in rates (meaning a 10% lower home price), the buyer may have been  "shocked" suddenly into the market having hoped in vain for rates to remain in the mid 3% for 30 year fixed loans long enough for the summer market to cool.  The feeling of being unprepared as well as disappointed can be overwhelming and discouraging; I understand.  But there is no excuse for cutting corners on the now even more important fundamental questions a buyer must ask a lender when considering mortgage loan options.

Don't Panic, You Can Still Avoid Future Surprises

A mortgage is a potentially very long commitment with many subtle details, and so as to avoid any further "surprises" a buyer must know what to expect.  Buyers, do not succumb to the understandable panic and miss the details.  Stay on top of what is happening with your mortgage and avoid looking at the loan as merely a means to an end.  Pre qualification may be a critical first step before you can effectively "shop" but it is not even close to being actually prepared for what happens next in a lightning fast market like the one we currently have. Do yourself the courtesy of surprise avoidance.  Absolutely do not forget to ask your lender or potential lender most, if not all, of the following key questions:

Comprehensive Questions Which Keep You Out of the Dark

1.  Which type of mortgage loan best fits us, and why?

2.  Are your rates, terms, fees and closing costs negotiable?

3.  If I am required to have Private Mortgage Insurance added to the payment (usually the case when less than 20% of the sale price is available to use for a down payment), how much will it cost and how long will I be required to pay it?

4.  Who will service the loan, your institution or another company (mortgage servicer)?

5.  What escrow requirements (taxes and insurance set aside for part of the monthly payment) do you have?

6.  How long is the loan lock-in period (the time that the rate will be honored, a very critical question of late) and will I be able to obtain a lower rate if the market allows for it during the rate lock period?

7.  Knowing there are many different things which can effect the process, what is a good estimate for the time it will take to approve and subsequently close the loan?

8.  Are there any prepayment penalties on the loan (very unlikely these days but worth asking)?

Keep these questions "close to your chest" as the cliche goes, especially if you've just been rocked into the real estate game.  There is still enough time to get something very good out of this market, as long as you keep asking enough questions and pledge to yourself to stay informed.

1.       Sylvia Harsin

2.       714-612-5373

3.       Sylvia@sylviaharsin.com

The All American Beach City

The All American Beach City
Prepares for Independence Day

Thomas Jefferson composed the Declaration of Independence after the Continental Congress unanimously voted on July 2nd, 1776 to declare independence from Great Britain, with whom the colonies had been at war with already over a year.  Thomas Jefferson's document, designed to explain the reasons behind the decision for independence, was ratified on July 4th, 1776 by Congress and launched a celebration of American Independence which the now 50 United States enjoy 227 years later.  Independence Day celebrations erupt all over the United States in and around July 4th, and my town of Huntington Beach plays host to arguably the most amazing Independence Day celebration in Orange County.

Imagine all of the iconic images surrounding Independence Day, real-life Norman Rockwell paintings, mom-and-apple-pie personified, town squares and fireworks displays, sparklers and barbecue and now transport it to an already exciting and vibrant, international surf mecca, Southern California beach community.  This is the 4th of July in Huntington Beach, which saw the first Independence Day celebration in 1904 in conjunction with the first electric passenger train linking the city to Long Beach and Los Angeles, with 50,000 people in attendance.  The festivities have only increased in size and scope over the last 109 years, and have become ever more reflective of American personality.  The delicate balance between individual liberty and community safety, personified by the American experience itself, is revealed in Huntington Beach's Independence Day revelry: without having to maintain an ordinance-heavy "iron fist", Surf City has welcomed tens of thousands of guests who enjoy long hours of celebration without any significant damage to person or property.  In other words, residents and guests of all ages can expect to have an incredibly fun time without much worry over things getting out of hand; Huntington Beach has over time struck learned to this delicate balance to the benefit of all who enjoy a beach side Independence Day.  Events in Huntington Beach begin well before and continue after the actual calendar day of July 4th, and are cataloged here http://www.hb4thofjuly.org/ for your strategic holiday planning.

Huntington Beach residents (and their guests) take note, the American Legion Huntington Beach is selling city-approved "safe and sane" fireworks, look for them at the Wal Mart at Beach and Talbert from noon to 10 July 1st through July 3rd, and from 10 am to 8 pm on July 4th.  The American Legion has been a part of Huntington Beach Independence Day celebrations since the beginning, in 1904.  Buying fireworks from the Huntington Beach American Legion is a rich local tradition, one the whole family can enjoy, and pass on.

Join me at my open house TODAY at 12:30!  526 7th Street in Huntington Beach; I'd love to meet you in person and talk about the extra-fast-paced real estate market in full swing this summer.

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Home Prep Refresher, Part Two

Summer Heats Up (The Market)
Sellers Prepare For Maximum Results


More on my refresher for home sellers, get ready for comparatively lightning-fast results for listing your home, especially if you keep in mind these very important fundamentals for home sale presentation.  In my previous blog, I mentioned five home prep basics which can be done almost, if not entirely by the homeowner.  I have five more equally important steps for which the homeowner may consider delegating or at least getting a second opinion.  As I mentioned previously, even in a market with an influx of qualified buyers eager to capture mortgage interest rates before they climb steadily higher and with little inventory to choose from, a seller must still take the fundamental presentation steps to insure buyers don't make the ever-present choice to not make a choice.  Consider it a courtesy to the potential buying public, to make your home sale ready with these steps 6-10:

6.  Make minor repairs which can create a bad impression, such as sticky doors, torn screens, cracked caulking, dripping faucets or any other noticeable flaw.  These "cosmetic" changes can make or break a buyer's interest even in a market where you have a relative advantage as a seller.  Buyers in a market with limited inventory are already under the impression that they may not be looking at a home in good condition and always have the option of taking a pass at the market altogether if they get the impression the limited amount of homes they've seen are all less than well maintained.

7.  Make your yard as presentable as possible.  This can involve a simple cutting of the grass and raking of the leaves, or it may involve something a little more extensive such as adding some landscaping or at the very least, adding some bright potted flowers at your doorstep.

8.  Patch holes in your driveway, and reapply sealant, if applicable.  A clean driveway goes a very long way to inviting potential buyers.

9.  Clean out your gutters.  Yes, it may be a completely rain-free summer here in and around Southern California, but the image of a cluttered gutter again leaves the impression of a home that is less than well-maintained.

10.  Polish your front doorknob and door numbers.  It's a pride of ownership thing, and it something you want to convey to potential buyers.

Some or all of my last five steps are worth not only doing, but some may be worth seeking some help to accomplish well.  Sellers have not seen a market opportunity like this in six years, and already (certainly by the end of summer) market forces are closing on this unique window and by this time next year the seller will not be in as advantageous of a position.  The cliche about striking while the iron is hot comes to mind, but making the best strike one can make is even better.

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Home Prep Refresher, Part One

Sellers Enjoying Lighting Fast Market

(but you still have to do the basics)

The arrival of summer has increased the traction to an already fast real estate market, and sellers may be tempted to skimp on some important details.  Even with recent mortgage interest rate up-ticking (or perhaps because of it), buyers are pushing hard for the still-limited available inventory, and sellers almost anywhere are all but guaranteed an offer quickly.   What sellers need to remember, even with a relatively advantageous position in the current marketplace, is that buyers still have a choice to not make a choice.  In other words, the fundamentals for home selling are not to be overlooked.   Here are my first five out of ten subtle but important things to remember to increase the marketability of your home:

1.  Get rid of clutter; throw out stacks of newspapers and magazines, pack away most small decorative items, make your closets appear roomier by storing out-of-season clothing, and clean out/organize your garage.  The process I'm describing is often called 'purging' and it is a form of therapy as well: if it is a piece of paper and you can't get rid of it, file it accordingly but otherwise cleanse your house of needless paper.  There is a recycling center somewhere with your clutter's name on it.

2.  Nobody likes to do it, but have it done nonetheless: clean your windows to bring in more light to your home's interior.  If you need to delegate or pay to have this done, it will be money well spent.

3.  Get your clean freak on! Selling time is the time to keep everything extra clean; wash fingerprints from light switch plates, mop and wax floors, and don't forget to clean the stove and refrigerator (yes, even the tops and sides).  Bright lighting (see suggestion number 5) will help "illuminate" problem areas; don't be ashamed of markings along walls, carpets and floors you've never noticed, just deal with them appropriately and with an even pace.

4.  Get rid of smells, this is a challenging one since over time people can become dulled to the smells of their house to where they don't even notice (pet owners take note).  If you clean carpet and drapes, and open windows regularly, the smells which are immune to your notice will be almost completely eliminated anyway.

5.  Here's an idea: light bulb!  Place higher wattage bulbs in rooms to maximize brightness (making the rooms as inviting as possible), which is particularly important in rooms which are naturally dark.  Obviously, you will want to replace any burnt out bulbs.

I've got five more tips to share which are a little more likely to involve some professional assistance if home improvement and landscaping don't really suit you, and I'll get into those in my next blog.  In the meantime, sellers, there hasn't been a market like this in years, get your home prepared and get yourself prepared.  A careful strategy planned with a seasoned real estate expert such as yours truly can insure you get the most out of this incredible market!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Ideal Buying, But For How Long?

Special Note to Buyers

We have a narrow window where you can get the most home for your buck, and it's closing.  Every instinct in everyone's gut who has been paying attention at all to the market knows the historical all-time-low mortgage interest rates are not staying low much longer: in fact, the 3-4% range for a 30 year fixed mortgage phenomenon has lasted far longer than most experts predicted.  Prices, and rates, are going up across all measurable metrics both locally and nationally in almost all major markets.  While price increases may slow down eventually as new inventory becomes available, rate increases will surely not slow down but rather ratchet upward.

Sellers already know the time is ideal: dramatic increase in prices from previous years of decline and more buyers for less available inventory generating multiple offers immediately after hitting the market.  Investors with cash offers are still pervasive; another powerful incentive for sellers, and a source of urgency for buyers.  Buyers need to get in now and expect to be aggressive, but for those up for the challenge the rewards will be great; nothing short of the best bang for the monthly mortgage payment buck that history has ever seen.  Make no mistake, buyers, the stakes are high and well worth the effort while this narrow window is even now on the verge of closing.

My own current experience speaks of the urgency: I put a downtown Huntington Beach home on the market recently and within 48 hours I had multiple offers.  The cascade of qualified offers resulted in my sale of the home at a full $100,00 above asking price; a scenario almost unheard of even a year ago and unthinkable in the prior four years.   The message is clear, in most of the country and certainly in Huntington Beach: buyers, it is time to get in the game before mortgage interest rates increase with home prices!


Sylvia Harsin

(714) 612-5373
sylvia@sylviaharsin.com

More Homes Coming to Huntington Beach

The Engine of Home Building is Running Again
Inventory Scarcity On Its Way Out in Huntington Beach

The residential real estate 'inventory crunch' is coming to an end in Huntington Beach, as revealed by the Acting Manager of the Huntington Beach Planning Department Jane James.  Building permit issuance has reached a five year high nationwide, and there are many different local examples indicated by the Acting Manager.  While this means a narrowing of an ideal seller window, it further adds urgency to sellers who wish to take part in more of a buyer's market free from inventory pressures as more inventory is both literally built and pressure is added to release 'shadow inventory' (a semi-mythological set of homes held on to by investors and/or banks attempting to further mitigate their losses by hypothetically waiting for a more ideal market, worthy of discussion in a later blog).  Buyers will only continue to make further gains as more homes are built and released.  Huntington Beach's home development projects already in process are shaping up to create a residential real estate 'perfect storm' for buyer's and sellers.  In Huntington Beach, now is definitely time to get back in to the real estate game.

Among the many projects in the works, enough to cover through the summer, I'd like to point out some of the more interesting ones (to me) first.  One of the few genuinely tall buildings in the whole of Huntington Beach, the tall office building at the (Southwest) corner of Beach and Warner is a distinctly noticeable part of the Surf City landscape.  Freeway close and yet close enough to the beach, the centrally located office building and neighboring gym and restaurants have weathered the many recent economic storms relatively well, with more positive changes coming as plans have been submitted to expand the property to include 272 apartments and more commercial space included.  The expansion of this property is an exciting real estate 'booster shot' for the surrounding Huntington Beach community.


Two former school sites are currently in litigation with neighboring communities for development into single family residences.  The former Lamb School located north of Yorktown and between Brookhurst & Ward, plans have been submitted for 81 single family homes.  The former Wardlow School site located east of Magnolia between Adams and Yorktown, plans have been submitted for 49 single family homes.  New homes, new buyers, inspired sellers, all coalescing into a symphony of residential opportunity.

Find out what this can mean for you as a Huntington Beach homeowner, or future Huntington Beach homeowner, contact me and find your place in the emerging and unique market ahead!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Spring Preparations

Spring Cleaning for a Spring Market

From a general timing and strategic perspective, no matter what you may hear to the contrary, spring really is the ideal time of year to sell your home.  More urgent than in prior years is the approaching perfect storm: currently there are more qualified buyers than there are homes available to sell them.  These conditions will likely not be the same next year as new home development is projected to skyrocket both nationally on the whole as well as locally in Huntington Beach.  In my search for important information with which to pass on to potential home sellers by way of my blog, I discovered twelve very good points for preparing your home for sale:

1. Talk to me, your local real estate professional and area expert, no matter how ‘early’ or ‘unprepared’ or ‘premature’ you might think it is; experienced agents like myself are able to find a strategy that works even if we can’t necessarily ‘strike while the iron is hot’.  And yes, this is a self-serving point to an extent, but it is an incredibly valid one.

2. Remove glass from light fixtures and take out any little critters that may have found a home over the winter.  Be sure to use glass cleaner on the panes before replacing them in your fixtures.

3. Check your house numbers.  Are they still in good shape and visible from the street?  If not, replace them.

4. Wash down your front door and garage door.  If you find that the previous summer’s sun has faded the paint, consider repainting.  

5. Wash the windows.  If this isn’t your strong suit, hire a professional.

6. Hose down the porch and driveway for a clean, crisp look.

7. Check your roof to make sure no shingles are missing or were damaged during the winter.

8. Remove debris from your gutters and drain spouts.

9. Remove winter displays from your urns.  For a burst of color, plant spring flowers as soon as weather permits. Tidy up your gardens in preparation for planting season.

10. Organize the garage. Put away shovels, snow blowers, toboggans, and any other items that made their way into your garage over the winter.

11. If you don’t use your barbeque year round, it’s time to bring it out.  If it’s a built-in unit that will be staying with the house, be sure to clean the grills and wash down the lid.  If you have a cover for it, replace it if it’s worn.

12. Remove the cover from your swimming pool and clean your pool as soon as your pool service company advises that it’s OK to do so, and bring out your patio furniture and set it up.  You want potential buyers to see your outdoor living space’s potential.

And back to point #1, to reiterate:


Sylvia Harsin
714-612-5373
Sylvia@sylviaharsin.com

A Spring For All Seasons

Spring Has Always Been The Best Time to List
(and this is the best Spring for listing in five years!)

The latest buzz phrase out of real estate jargon has made it to the lay person's ears: "inventory shortage" .   Perhaps more importantly is the whisper-turning-into-a-roar of the phrase which is the logical extension of an inventory shortage, but which couldn't be clearly spoken for almost five years, "Now would be the time to list!"  I am not preaching a self-serving gospel, this is an industry-wide and economic observation. Currently, housing inventories are at seven year lows which is driving average days on market lower and putting upward pressure on prices.

California homeowners who have wanted to sell their home for half a decade or more finally have a reason to hope; even celebrate.  More important than scarcity-driven pricing, and the even mix of investor and "actual" buyers who are genuinely qualified, are those elements in the works which add some urgency to the potential seller.  Home builders have once again put hammer to nail on a scale locally, statewide, and nationally which hasn't been seen in over five years.  From the Sacramento Forecast Project website http://sacramentoforecastproject.org/ca/ca_bp.htm which tracks building activity:

"With data through November of 2012, the total number of Residential Building Permits issued in California should end 2012 with a 23.5% (10,600) increase from the 45,200 permits in 2011. This was the third consecutive year of increases, prior to this increase, total permits had declined from a high of 207,400 permits in 2004 to a low of 33,300 permits in 2009 - an 84% decline in 5 years."  

The inventory shortage will not last long.  More inventory means a more competitive pricing market, and all the more reason to get the jump ahead of that curve and sell.  Sellers are in a 'sweet spot' enough that I decided to devote this blog to the importance of this strategic step and speak directly to the potential seller: let's not wait a moment longer!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

More Than Just A Beach Town

A Beach Town, and Everything Else You Could Want

The Incomparable Huntington Beach Central Park

As if it was not enough that Huntington Beach is world-class surf and sport destination, or an internationally acclaimed naturalist haven, or home to a truly unique community personality, it happens to have the largest city-owned park in Orange County.  Boasting over 350 acres of extensive landscaping, the Central Park has within it’s expanse Adventure Playground, an Amphitheater, a Disc Golf Course (more on that later), a Dog Park, an Equestrian Center, an Exercise Course, Lakes, Playgrounds, Restaurants, Shipley Nature Center, a Sports Complex and The Urban Forest.  As distinctive as the park is as a whole, is the Huntington Beach Central Park Library, which has the largest children’s library west of the Mississippi.  If you are thinking about making Huntington Beach your home, and you follow my recommendation of coming out to visit regularly before you decide, you may not make it to the beach if you head down Goldenwest from the 405 Freeway and stop off at the park you notice spanning both sides of the street after you pass Slater and before you reach Ellis.  You won’t regret it if you do.

As a good example of one of the many things always going on at the park, Disc Golf is played every weekday (check for times) at the Huntington Beach Disc Golf Course, and the public is welcome to participate in this easy to learn sport.  Parking is in the Central Park lot off Golden West Street between Talbert and Ellis.  Call: (714) 425-9931 for more details. 

After enjoying any of the many features, or any of the several special events (such as the equestrian jumper show coming up this spring), Huntington Beach Central Park offers the opportunity to relax and enjoy a great meal with some amazing restaurants on the grounds.  The Park Bench Café is particularly rewarding for providing great food alongside the park’s trails where a visitor’s appetite is worked up to begin with.  Picnics are welcome also, but it’s good to know you can have a complete culinary experience without having to prepare ahead of time for your visit.

Making regular visits to Huntington Beach Central Park will only confirm suspicions that you will never have the same experience twice.  Making Huntington Beach your home will confirm you will have a rich variety of experiences without ever leaving your home town.  Let’s find your home in Huntington Beach together.

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

International Acclaim for Huntington Beach

Local Pride; International Attention

Huntington Beach residents have a great deal to be proud about.  One of the most noticeable aspects of living in Huntington Beach, dating back to the oil boom of nearly 100 years ago, is the magnetic attraction of the city which draws people in from all around the world for a vast array of reasons.  For those unfamiliar with Huntington Beach apart from its reputation as a historical surfing capital of the world, one may be tempted to assume the international appeal of the city as limited to the surfing community and its many events. While this is certainly true, not only does Huntington Beach play host to a myriad of national and international events for all manner of beach related sporting events (surfing one of many), but Huntington Beach retains international significance for one of its more subtle beauties as well.

The Bolsa Chica wetlands stretch 300 acres enveloped by Warner Avenue and Pacific Coast Highway on one side and homes along with (arguably historic, since few remain) oil fields on the other.  The ecological reserve is a coastal sanctuary for wildlife and migratory birds.  With very little wetland area left in Southern California (from 53,000 acres down to 13,000 in the last half decade, of which the Bolsa Chica represents a critical section), 20% of North America’s migratory birds use the Pacific Flyway (meaning a designated stopover for migratory birds) provided by the Bolsa Chica.  One does not have to be a ‘tree hugger’ or even an avid hiker as I am to appreciate the wildlife that by necessity must travel through the Bolsa Chica habitat.

Whether you are a devout wildlife follower or have never given nature on this level much thought, the Bolsa Chica wetlands are an unparalleled local visit.  Of particular interest; a simple wooden bridge crossing over a tidal inlet and a 1.5 mile loop trail which grant access to a view of untouched wildlife which draws as much international interest as any beach centered athletic competition.  The significance of Huntington Beach’s wetlands earned the designation of "Wetlands of International Importance" in accordance with the Ramsar Convention.

Long before the oil boom which gave rise to the Huntington Beach the world has come to know and love, some 8,000 years ago, Native American Indians lived on bluffs overlooking the Bolsa Chica wetlands.  Today, the preserve represents one of the many things that make Huntington Beach one the most richly diverse cities to call home is Southern California.  I invite you to contact me to find your place in the Huntington Beach landscape.

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com

Ever Changing Yet Still the Same

Ever Changing Huntington Beach

Part of the reason why Huntington Beach maintains its iconic status is due to the resilience of the community which allows it to reinvent itself while never relinquishing its unique personality.  Rare is the case when a beach community is without its own distinct flavor, and the fun yet strong nature of Huntington Beach has allowed for a steady, determined trend of renewal.  A great recent example of Huntington Beach’s successful re-transformation, as well as a fantastic reason to make your home in Huntington Beach, is the Bella Terra shopping center. 

If one was inclined to leave the proximity of Huntington Beach’s 8 ½ mile coastline heading inland toward the 405 freeway and the most inland portion of the city boundary, circa 1966-2003 one would find the Huntington Center.  Known in later years as the Huntington Beach Mall, it had been a ‘struggling’ mall during its entire existence.   The Huntington Center originally had The Broadway, JC Penney, and Montgomery Ward as its anchor stores, and while it saw a fair share of business throughout the 1960’s, later decades saw the mall become notoriously limited in traffic.  Anchor store JC Penny closed in 1992 and moved to the nearby Westminster Mall, replaced 1995 by Burlington Coat Factory.  The following year, however, true to the reputation of limited business, The Broadway closes, followed by Montgomery Ward in 2001.  Apart from Meryvn’s and Burlington Coat Factory, the mall finally closed altogether in 2003.

True to its regenerative nature, Huntington Beach finds a way to bring its freeway-close retail community back to life, and Bella Terra rises from the ashes of the empty Huntington Beach Mall lot three years later.  Bella Terra sports a world class retail mall environment while loosing none of Huntington Beach’s unique character; its very existence a testimony of Huntington Beach’s capacity to always change for the better while remaining the same iconic city.  With top of the line stores such as Barnes & Noble, Bed, Bath & Beyond, Century Theaters, Whole Foods Market, Cost Plus World Market, Kohl's, Staples, and 24 Hour Fitness, bringing in more traffic per capita than the area has ever known, there is every reason to celebrate and raise a toast of congratulations to the community which always finds a way to thrive.

It’s time to make Huntington Beach your home so you can share in its unique character; as an area expert I’ll find the ideal part of town to settle in!

Sylvia Harsin

714-612-5373

Sylvia@sylviaharsin.com