Dave Osborne

This property is currently in escrow. If you are interested in submitting a Back Up offer, let me know. Many times buyers are failing to qualify for their loans and the properties come back on the market. With a Back-up offer, you could possibly have first crack at it if it does fall out of escrow.

Also, you can insure that you get the next listing emailed to you as soon as it hits the market by searching at http://www.400kHomes.com.

Let me know how I can best help you . Thanks

Dave - Wed Oct 29 2008, 16:53

If it is still available, absolutely.

Call me at 714-349-5454.

Thanks and good luck in your home search.

Dave - Wed Oct 29 2008, 12:35

Most experts say that no one will know when the bottom of the market will be reached until we look back well after the prices have started going back up.

Cypress (90630) saw a 5.4% drop in prices from 2006 to 2007 and then an additional 22% drop in 2008 from 2007. However sales activity in OC was up nearly 62% from Sept 2007. While 2007 numbers were not tough to beat, there apparently is not a big shortage of buyers for homes priced correctly.

I would bet tt if we took a poll of every OC Realtor on Trulia, that over 80% of them that have written more offers over the last 12 months, that were rejected versus accepted because of multiple offers....especially on homes in better neighborhoods, or on properties that were very well priced for their neighborhood.

If sales activity continued up through the end of the year, I would seriously start to consider that maybe we are very near the bottom. More importantly than timing precisely when the bottom of the market is, is timing when is the right time to buy for you. If you qualify for a home in Sorrento, and are comfortable with the payments, and know you want to stay there at least 5 years or more, than I don't know how much longer you will want to wait.

Additionally, if someone borrows $800,000 at 6.5%, their monthly payment would be $5057 a month. At 7.5%, the payment would be $5594 a month....a whopping $537 a month more....over $200,000 more over the term of the loan.

There is a lot to consider when buying a home in this or any market. Make sure you talk to a Real estate professional that will help you achieve the home ownerships goals that are right for you. You are also welcome to search for Sorrento and other Cypress area homes at http://www.TheLuxuryMLS.com.

Good luck in your home search.

DaveO@theOCmls.com - Tue Oct 28 2008, 21:52

A quick search of http://www.400kHomes shows 1 unit on leased land.

Write me if you are curious to learn about the difference between leased land and fee simple.

Also you can search $200K homes throughout southern California oat 400kHomes.com.

Good luck in your home search. - Sun Oct 26 2008, 00:29

I like the ones on Slater and Euclid because the garages have separate studios over the garage which is great for visitors, in-laws or some people even rent them out.

You can see these and more at http://www.400Khomes.com - Sun Oct 26 2008, 00:26