Up to Date Real Estate News from the Experts in Urban Living, July 2012

Up to Date Real Estate News from the Experts in Urban Living July, 2012

Home buying jumps in 42 OC zip codes! See February ending data below…

Below is a graph showing Orange County home sales pricing, from lowest to highest, by zip code that I thought you would find informational. With properties under $500,000 receiving multiple offers and selling in under 30 days, now you have a target to go after.

The Sousse Group, Luxury Irvine Condos, Newport Beach Luxury Homes

SOLD REPRESENTED BUYER 5122 Scholarship $1,020,000

5122 Scholarship, The Sousse Group, Luxury Irvine Condos, Newport Beach Luxury Homes

Enjoy living within the areas most prestigious high rise tower available, The Plaza Irvine. This pristine residence offers a resort-like lifestyle ideal for entertaining. Interior finishes are inclusive of near $225,000 of upgrades – calcutta marble floors, textured carpeting, Snaidero European cabinetry, Viking appliances and wine cooler, custom built-in office in the den, audio and video media surround sound system and floor to ceiling windows on a corner capturing views of the natural reserve and city lights. The Plaza offers its residents hotel-like amenities inclusive of a Concierge, gated entrance and parking with surveillance, two pools and a spa, state-of-the-art fitness center with massage and yoga rooms, cabana, BBQ and fireplace areas for all of your entertaining needs. You can enjoy this ease of lifestyle so close to the areas renowned beach cities, John Wayne airport and shopping and dining venues!

Financial Update by Maurice

Interest rates are about flat today from the last two weeks. The 10 year treasury has had only minor up and down movements in the past few weeks.

Today I have attached very important bit of information from our corporate real estate attorney. This documents talks about the Bank Secrecy Act and Anti Money Laundering program requirements. One of the toughest things in loans today is the movement of money by borrowers from one account to another. It is the single greatest thing slowing us down on loan files. When a borrower moves money from one account to the other we need to see not only the transfer by copy of check or wire, but also the proof that the money left the other account and the proof the money cleared into the new account. It is an absolute time killer on loans and is a large hurdle.

When borrowers have any money transferred in from family as a gift, or have a corporate reimbursement check, these type of deposits all need to be verified. As you can see by the attachment, the banks are very detailed in tracking any deposit that is usually over $1000. The ACT states $5000 for reporting to finCEN, but, banks look at the borrowers income level to determine smaller deposits need to be justified. We have had them documented as low as $800.

We try to counsel borrowers to have them keep all of the money in the same account or to move the money EARLY in the transaction so we are not chasing it at the end. It goes out in our first introduction letter. Please help to suggest that borrowers don’t move any money in their accounts without talking to us first.

I love this week’s quote by Charles Schultz; I think I’ve discovered the secret of life- you just hand around until you get used to it.

Based in Orange County, California, The Soussé Group is ranked number one in total sales in Irvine, California, 92612. Topped $120 million in sales in 2011, 2010, 2009, 2008, 2007 alone with 320 completed transactions and have successfully risen to the top 50 along the 25,000 agents in Orange County.
Kerry and Maurice Soussé
Realtor / Broker
The Soussé Group
HÔM Real Estate Group
1200 Newport Center Drive, Suite 100
Newport Beach, CA 92660
Direct Line: (714) 412-9014
Direct Line: (714) 412-8512
Direct Fax : (949) 640-7606
All Rights Reserved.

© 2010 The Soussé Group.


Offerings are subject to errors, omissions, prior sales or withdrawals without notice.

To unsubscribe, send email to info@thesoussegroup.com