10 W Avenida Junipero, San Clemente, Single Family Home, Residential Sale

Sold Purchase. Happy buyers for a great find in San Clemente. The new owners began remodeling this downtown-close fixer property on day one. Since then, I’ve seen the amazing transformation of this home. They are sure to see a nice return on investment having paid a great price, I dare say deal, at the time of purchase. See the newest Single Family Homes for Sale in San Clemente, click here.

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4 W Cornelio San Clemente, Single Family Home, Residential Sale

Sold Purchase. Beach house in San Clemente. A 1955 classic Bungalow style home, completely remodeled using a tasteful mix of styles, and materials. Gorgeous wood-cased windows open to the ocean breeze adds an outdoor feel to the living area. Expanded Master Bedroom and Bathroom open to private backyard. I’m very stoked for the new owners, who love the beach, with family roots in San Clemente. See the newest San Clemente Single Family Homes for Sale, click here.


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591 Avenida Majorca, Laguna Woods, Stock Cooperative, Residential Sale

Sold Purchase. There was quite a bit of negotiation in order to arrive at the fair market price my Buyers paid, and a lot of persistence moving the transaction along. Proud to say we got it done. Laguna Woods is a deal in South Orange County for active seniors. See the newest Laguna Woods Condos and Stock Cooperatives for Sale, click here.

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77 Calle Aragon, Laguna Woods, Stock Cooperative, Residential Sale

Sold, Listing.

 

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33965 Malaga Drive, Dana Point, Lantern Village, Single Family Home, Residential Sale

It took last-minute heroic moves by all involved. Short-sale. Basically the whole transaction was redone in a week, after a 5-month escrow. Below are quite a few details for future reference; maybe we’ll revise at a later date. See the newest Lantern Village Single Family Homes for Sale, click here.

Thursday, 04/12/2012: I’m the buyer’s agent, we are almost 5 months into it, short-sale, tenant occupied, FHA loan, TRICKY! We were supposed to close today, yesterday the mortgage insurer for the buyer’s approved loan denied by the MI based on occupancy requirement (they imagined “the buyer was just helping a neighbor, only to sell it back to the neighbor” and wasn’t actually going to move-in per the loan requirement) even though the current tenant’s lease agreement and tenant notices were disclosed, tied into to the contract, and buyer’s move-in date is well within the loan terms of occupancy after close of escrow… the possibility of the entire deal unraveling was real. Seems there always is something way out of left field, the only time you’ll ever see it once in your career, and at the last minute with every short sale transaction!

Here comes the heroics…

so the loan officer (a HERO that has proven himself with several of my happy clients) had to completely resubmit to another investor, basically get a new loan for the buyer in a week, and is now trying to prove conditions (explanation of deposits, handwritten letters, etc.), with two days to go, from the buyer that worked until 9pm Tuesday night and back at work at 5 am Wednesday morning (Doctor, in surgery, are you going to stop him from that to supply a bank statement?), the short sale coordinator got a 1-day turnaround on 1-week extension (to 04/20/2012) from the second short-sale lender last Wednesday for this Thursday, escrow had title re-record the deed (ex-spouse issues) in a 4-hour turnaround, Escrow officer was still clearing conditions morning of last day of extensions from the first and second short-sale lenders, and put a rush order to record the sale in time. The team effort made it happen in time at the last second!

Basically at the last minute the whole deal was redone in one week!

Happy for the Buyer/New owner, he got a smokin’ deal on the price for the property and the maximum credit allowed from the seller for his closing costs, final price $22,800 under appraised value! From a property investor point of view 33965 Malaga Drive is nearly cash flow positive now considering the new mortgage payment, insurance, taxes, and the current tenant’s monthly rent, with only 5% down payment; his cash out of pocket is likely to pay for itself and triple in 10 years, not to mention immediate tax write-offs, and the significant future capital gains.

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27192 Calle Juanita, Dana Point, Capistrano Beach, Single Family Home, Residential Sale

27192 Calle Juanita

 

Sold, Puchase. The new owners are looking forward to retirement soon, traveling, and spending time with grandchildren and extended family in the area. The couple’s top priority in finding a home was having sit-down views of Catalina Island. Throughout this home the view includes Catalina Island, Dana Headland, San Clemente Island, San Clemente Pier, Cottons Point, and beyond.

 

 

I’m happy to see the owners posting sunset photos on Facebook, and the appraisal value $45,000.00 over the negotiated purchase price – good for the buyers. Interesting facts. The next door property is owned and occupied the same family since 1948; purchased from Mr. Doheny, the double-lot backyard has Torrey Pines planted by Mr. Doheny, add a unique feature to the view.

27192 Calle Juanita

 

 

 

 

 

See the newest Capistrano Beach Single Family Homes for Sale, click here.

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