CLICK HERE

http://e2.ma/message/zn6ub/z322b

Warren Buffett, CEO of Berkshire Hathaway, said yesterday on CNBC’s “Squawk Box” that buying single-family homes is such a great investment right now, if it were practical, he’d buy a couple hundred thousand of them. Given how low rates are for a 30-year fixed-rate mortgages (3.95 percent, according to the Freddie Mac Mortgage Index), Buffett told CNBC’s Becky Quick that homes, held over the long term, provide a better investment than stocks. If you factor in that prices in some areas are at a 10-year low and inventory levels are high, the conditions are ideal for buying.

While the “Omaha Oracle” has been right about a lot of investments, his opinion on housing hasn’t always been on the mark. At last year’s annual Berkshire Hathaway meeting, he said 2011 was going to be the year that housing prices were going to rebound. In a letter to his shareholders sent last weekend, he apologized for being “dead wrong.” He explained his belief that housing is a sound investment at least in part the inventory of new homes isn’t growing at a rate that will satisfy future demand. People living with their in-laws to save money, he quipped, will find that attractive for only so long.

You have to give Buffett credit for putting his money where his mouth is. Home Services of America Inc., a Berkshire Hathaway Affiliate, is one of the largest independent residential real estate and settlement servicing companies in the U.S. While Buffett wouldn’t comment completely on Berkshire Hathaway’s stake with each of the banks, the fund actively invests in them. He says if he could own only one bank stock right now, it would be Wells Fargo.

Real estate for sale in Huntington Beach looks upbeat by one set of statistics.

Every two weeks, Steve Thomas of ReportsOnHousing.com publishes a study of the supply of local homes for sale. Here’s what the latest report — as of November 10 — details about Huntington Beach …

554 residences listed in brokers’ MLS system with 167 new deals opening in the past 30 days.

• By Thomas’s math, this community has a “market time” (months in would take to sell all inventory at current pace of new escrows) of 3.32 months vs. 3.70 months found two weeks earlier vs. 4.32 months seen a year earlier. Countywide, latest market time was 3.27 months vs. 4.18 months a year ago.
• So, homes in this community sell — in theory — in 1% more time than the countywide pace.
• Of the homes listed for sale in this community, 172 were either foreclosures being resold or short sales, where sellers owe more than the home’s value. So distressed properties were 31.0% of supply of homes for sale vs. 36.6% countywide.
• Homes for sale in Huntington Beach represent 5.8% of Orange County inventory — and 4.9% of all the distressed homes listed for sale in Orange County. New escrows here are 5.7% of all Orange County’s new pending sales.

Compare these trends to countywide patterns:

• Cities with highest level of distressed properties among their listings? Portola Hills was tops — 75.0% — followed by Rancho Santa Marg. at 68.9% of listings and Ladera Ranch at 66.7% of listings.
• Fewest? Corona Del Mar was tops — 3.8% — followed by Seal Beach at 5.2% of listings and Laguna Woods at 7.6% of listings.

Read this article from the OC Register for more details on how the city and area will be celebrating with the little leaguers.

http://www.ocregister.com/news/parade-315241-valentine-team.html

The parade will begin on the 500 block of Main Street at Acacia at 3 p.m. The route will travel down Main Street ending at Pier Plaza.

http://money.cnn.com/galleries/2011/real_estate/1107/gallery.best_investment_markets/

 People familiar with how Jody Clegg takes care of her clients at First Team Real Estate probably weren’t surprised to see her distinguished as a “Fan Favorite” in the Orange County Register’s annual “Best of Orange County 2010” readers’ poll. First Team was voted one of O.C.’s two best real estate companies, and Clegg earned a special mention for being “professional, warm, and friendly.”

Buyers and sellers especially appreciate her skill in helping them make wise, well-planned moves. She does this by combining intense market knowledge with a comprehensive understanding of their individual circumstances and desires. She has applied this model so successfully that she’s been independently ranked near the very top of annual real estate production in Huntington Beach for the past eight years.

She’s also known for selling homes faster and at better prices than most of her competitors.  There are many other professionals in the real estate industry such as appraisers and builders that consult with her regarding effectively preparing and pricing properties.   She does unusually strong repeat and referral business as clients seek her expertise for both buying and selling, and spread the word about her to others.

Outside of the real estate industry, Clegg is one of the most generous donors to foundations and sports programs at Huntington Beach High School and local middle and elementary schools.

In Clegg’s view, it’s all part of a long-term commitment to help shape and maintain what she views as a great place to live. Even though she could easily expand beyond her specialty area of Huntington Beach, where she has lived for 22 years and raised her children, she has kept her attention centered on Surf City.

“I’ve chosen to focus on only Huntington Beach and its perimeter cities because it’s the way to serve my clients best,” she explained. “My whole goal is for my team and me to be within a few miles of my clients seven days a week. And I’m a big believer in supporting our schools because good schools develop good citizens for our community and also keep our values up.”

Clegg said an email from a friend is where she first learned that she was named a “Fan Favorite” in the readers’ poll, “I had no idea!  I am thankful,” she said. “You can’t help but take this business very personally, so this is great”. I feel a real obligation to put my clients in the best position possible regardless of the circumstances they may be facing in their personal lives and in this challenging economy. I’m willing to do just about anything to get them where they need to be, and that’s why the ‘Fan Favorite’ makes me feel so thankful that my clients were satisfied enough to mention me in the readers’ poll.”

A: Prop. 60 was a constitutional amendment approved by the voters of California in 1986. It is codified in Section 69.5 of the Revenue & Taxation Code, and allows the transfer of an existing Proposition 13 base year value from a former residence to a replacement residence, if certain conditions are met. This benefit is open to homeowners who are at least 55-years old and are able to meet all qualifying conditions, (click below).

http://www.ocgov.com/portal/site/ocgov/menuitem.02b739dec30413a69add603d100000f7/?vgnextoid=b8e85142e6a03210VgnVCM1000005b00610aRCRD&vgnextchannel=9dbaca3bac5e2210VgnVCM1000005b00610aRCRD&vgnextfmt=default

1. $479,000 : 1402 Arrow Ln, Huntington Beach
   
   3 beds, 1 full, 2 part baths

   Home size: 1,470 sq ft

   Lot size: 1,972 sqft
2. $525,000 : 6431 Antrim Cir, Huntington Beach
   
   3 beds, 1 full, 1 part baths

   Home size: 1,403 sq ft

   Lot size: 6,000 sqft
3. $529,000 : 16241 Nassau Ln, Huntington Beach
   
   4 beds, 1 full, 1 part baths

   Home size: 1,270 sq ft

   Lot size: 6,552 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.