Hello Vikash.....

I am a bank representative/foreclosure listing agent:

1) FHA loans are a sure way to LOSE out to the other buyers you are competing with when buying a foreclosure property in this market....the bank will look 1st to the largest down payment.....combimed with the highest offer...by definition a 3% FHA down payment will LOSE every time........

2) REO/bank-owned homes are bought AS-IS.......FHA loans have requirements AS-IS properties cannot AND WILL NOT meet.

3) Most listings are in some kind of legal stage of foreclosure.....

4) You MUST have an agent that is an INSIDER and who knows EXACTLY what the banks think

5) There are specific reasons banks expect a FULL PRICE offer....which also means you GET A DEAL!

If you would like a roadmap through the foreclosure maze...I will share my secrets with you..AT NO COST AS A BUYER.

I look forward to helping you.

Kurt Steinhebel/Jason Rowland
Century 21 FORECLOSURE SPECIALISTS
Orange County
714-365-6135
kurt.century21@yahoo.com

Check out my website for the Yorba Linda Market Index chart with Median Price graph and Market Index (current rate of sales vs. current inventory). Based on this information, it is a buyers market and pressure on price to continue to drop is strong. The median has droped over $100K in the last 6 months. The credit crunch is very much affecting purchases, however, the FHA guidelines are really the way to go with the low 3% downpayment.

go to dqnews.com for sold data or check for sold data here at truila.com

Here is the average SOLD price per square foot for the past 6 months...

08/2007 $360
09/2007 $352
10/2007 $343
11/2007 $327
12/2007 $312
01/2008 $350

So far, for February the average is $310. Between 2006 & 2007 price per square foot was down approximately 7% in Yorba Linda.

I think the slow down has more to do with everyone wanting to buy "at the right time" than the "credit crunch". There is still plenty of money available for home loans. You just can no longer "state" that you make money, when you don't...

Homes are still selling, they just need to be aligned to market conditions (which I can help you do, it actually involves much more than just slashing the price, call me at (949) 278-4807).

08/2007 578 - 52 (homes available - #sold)
09/2007 580 - 40
10/2007 557 - 42
11/2007 549 - 35
12/2007 454 - 37
01/2008 449 - 32

There are 442 homes on the market with 4 closed sales so far, for the month of February. You can compare how Yorba Linda is faring in contrast to other Orange County Communities/Cities by clicking on the Web Resource below.

This will take you directly to a post with a City by City Guide on what happened to prices in Orange County over the last year as well as how Orange County compares to other Counties in Southern California.

It's a great time to buy in Yorba Linda. Lots of inventory to choose from and motivated Sellers. Prices have been declining in Yorba Linda over the past 6 months, but great homes still sell quickly and for top dollar. The "credit crunch" has definately effected the ability of buyers to purchase homes in Yorba Linda. Things could change dramatically in this high end market place when the President's stimulius package raises conforming loan limits over $700,000.

Hi Vikash,
Let me sum it up: GREAT time to buy, not so good time to sell!

Yorba Linda, as with almost every city in Orange County, has seen a decrease in prices. From October of 2006 to December of 2007 the "median price" for homes/condos went from $850,000 to $656,000 in. The average "sold price" went from $940,000 to $748,000 over that same time frame.

Depending on what area of Yorba Linda you are looking at, prices have decreased more in some areas as opposed to others. The east end of Yorba Linda has sustained the downward turning market slightly better than the west end of Yorba Linda.

My mother and I specialize in the cities of Yorba Linda and Anaheim Hills. While we service all of Orange County and know it well, those two cities are what we are most knowledgable on. We have both lived here most of our lives, and have seen the market in its ups and downs over the years. Yorba Linda has always been a good city to purchase in however, as it seems to hold its prices much better than other Orange County cities.

Please let me know if you would like any more information on the market in Yorba Linda, or any other cities throughout the Orange County area. Hope this has helped. You can also access our website below for additional real estate advice as well as our contact information.

Sincerely,

Tiffany Mueller
Prudential California Realty

Yorba Linda came out on top this year nationally as the city with the highest per capita income in the nation....I would love to Email you the prestigious Watt Report which details this current market ...and puts it in historical context...ALSO....I would like to Email you current market data for Yorba Linda so you have facts and stats to base your opinion on....Let me know how I can help....!!

Yorba Linda is a nice area. The western part of Yorba Linda is older while the eastern part of Yorba Linda is newer. Condos and starter homes have been hit the hardest, while most of the high-end homes have taken just a little hit. The credit crunch, for the most part has passed. We are back to "normal" lending now. The crunch has hurt people who cannot document their income, the most. For those that can document their income, then it's a great time. Buyers have the power to negociate great terms, most sellers have the equity negociate at a discounted price, and interest rates are in the high 5's to low 6's. With a 2-1 Buydown 30 year fixed, rates in the low 5s high 4's are possible. If you'd like to talk, please feel free to call. I have a number of clients thoughout Yorba Linda.

Josh Dart
800-997-1976