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Big Rent Hikes in 2012

Consumers Expect Big Rent Hikes in 2012 Consumer sentiment on housing expectations is stabilizing as the year winds down and consumers are adopting a “wait and see” attitude towards 2012, according to Fannie Mae’s November National Housing Survey. However, on one front there is consensus: rents will rise significantly. On average, Americans expect home rental prices to increase by 3.2 percent... [Read more...]

Home Buying Looks Better for 20-Somethings

Home Buying Looks Better for 20-Somethings Young Americans under 30-a prime age group for first-time home buying-are feeling considerably better about their financial picture than they did a year ago, according to a major new study from Bankrate. Nearly one-third of those younger than 30 say their overall situation is better today than it was last year and 25% feel more secure about their jobs than... [Read more...]

New Law In California Protects Sellers

A new law signed recently by California Governor Jerry Brown offers extended protection to state homeowners who are forced to short sell their homes. SB 458 ensures that any lender who agrees to a short sale must accept the agreed-upon short sale payment as payment in full on the outstanding balance of all loans, including second mortgages. The previous law, SB 931, enacted in 2010, held that a first... [Read more...]

What Sellers Need to Know About Property Appraisals

What Sellers Need to Know About Property Appraisals The appraisal process can leave sellers in a state of confusion. Unfortunately, lack of knowledge can be detrimental to obtaining the best price and fast closing for even the most competitive properties. Following are some guidelines to follow for best results: 1. Understand the Home Value Code of Conduct (HVCC): The code stipulates that brokers,... [Read more...]

Save Money Today by Deferring

Save Money Today by Deferring Capital Gains Tax Imagine saving thousands of dollars on your next commercial real estate transaction. Section 1031 of the U.S. Internal Revenue Code allows for the exchange of one investment property for another, providing the opportunity to defer the capital gains tax on approved property transactions. A 1031 exchange is a method for selling one qualified property, then... [Read more...]

Golf Course Living

Golf Course Living   Wow! Imagine how great living on a Golf Course can be? If you’re a lover of golf then waking up to walk to the course or simply strolling along watching others play can be pure heaven – or is it? The Pro’s of Golf Course Homes Well – Golf Course Homes are very nice because of the view, privacy and the open space behind your home. Looking out at a slowly undulating... [Read more...]

Homeowners Facing Foreclosure Should Converse with a Realtor

Homeowners Facing Foreclosure Should Converse with a Realtor Many homeowners already shell-shocked by the state of their financial affairs bury their heads in a hole until it’s too late. There are plenty of ways to fight back and save your home and your good credit. Don’t just stop with a call to the bank; add a Real Estate agent’s name to the list. Your first call should be to the mortgage lender.... [Read more...]

You Still Need a REALTOR® to Buy Direct from the Builder

 You Still Need a REALTOR® to Buy Direct from the Builder   It always seems simple to walk into a model home and deal directly with the builder but that’s not the best idea. More people are taken advantage of when alone than with a real estate agent. All the paperwork you’re required to sign, disclosures, clauses and most important releases. When you sign a release you practically give up your... [Read more...]

How to Successfully Lower Your Mortgage Payment and Principal

How to Successfully Lower Your Mortgage Payment and Principal Most homeowners are seeking creative ways to lower the mortgage payment but many of you fail to look at your first line of defense – property taxes, homeowners insurance and deductibles. Just like your auto insurance, everyone can lower their homeowners insurance by increasing their deductible, thereby saving money each month on their... [Read more...]

Good Faith Estimates and the Impact of New Guidelines

Good Faith Estimates and the Impact of New Guidelines  The modified version of the homebuyers Good Faith Estimate is now in effect but will the impact become negative or positive? After home buyers have searched and found that perfect home for their family their chosen mortgage lender must provide a Good Faith Estimate that details which costs they will be responsible for paying during settlement.... [Read more...]

Life after Bankruptcy and Qualifying for a Home

Life after Bankruptcy and Qualifying for a Home Bankruptcy can help relieve you of your debts and stop harassing creditors from contacting you but have you thought about life after bankruptcy? Will you be able to qualify for a new home? You can be approved for a new mortgage at a normal interest rate within 24 to 30 months after your discharge. If you can prove the bankruptcy was caused by medical... [Read more...]

United States 2010 Census

It’s that time of the year again.  Time to be counted and considered.  If you have not received your Census Quetionnaire, make sure you pick one up.  They can be found a many public sites.  The Census will be mailed during February and March.  April 1 is considered Census Day.  Census takers will be on the road knocking on doors from May through July for those who have not completed their... [Read more...]

Winterizing Your Home

Winterizing Your Home Whether you are buying or selling a home, you should have a professional home inspection performed. A home inspection will look at the systems that make up the building such as: Structural elements, foundation, framing etc Plumbing systems Roofing Electrical systems Cosmetic condition, paint, siding etc If you are buying a home, you need to know exactly what you are getting. A... [Read more...]

Third Annual Southern California Home Buyer’s Fair

Third Annual Southern California Home Buyer’s Fair The third annual Southern California Home Buyer’s Fair at the Los Angeles Convention Center in downtown Los Angeles is expected to draw thousands of hopeful home buyers this weekend. The Southern California Home Buyer’s Fair will be open 10 a.m. to 5 p.m. on Saturday, March 13, and 11 a.m. to 4 p.m on Sunday, March 14.  The Los Angeles Convention... [Read more...]

Will Elimination of Homebuyer 1% Origination Fee Lead to Predatory Charges?

Will Elimination of Homebuyer 1% Origination Fee Lead to Predatory Charges?   We’re all aware of the costs associated with getting a mortgage loan. One of the principal costs is the loan origination fee charged by mortgage lenders and brokers. This fee is compensation mortgage professionals earn for helping borrowers locate a mortgage and acting as your liaison to the underwriters during the loan... [Read more...]

Have Houses Become Cheap Enough for You?

Have Houses Become Cheap Enough for You? A few years ago home prices were way out of reach for most of the country but greedy lenders led homebuyers to believe they could have anything they wanted. But like the old adage goes, “everything that goes up must come down.”  The average home is about a third cheaper than it was at the peak three years ago, a plunge unprecedented since the Great Depression. Looking... [Read more...]

The Benefits of Owner Financing

The Benefits of Owner Financing There are many benefits for doing an owner-carry installment sale as opposed to conventional financing for both the buyer and seller. Sometimes this type of transaction may benefit only one or the other, but in most cases this contract is “Win/Win” for both parties.   Benefits for the Seller Most sellers of real property insist on the highest price and all cash.... [Read more...]

The Camarillo Community Theatre

The Camarillo Community Theatre 2010 Season No need to wait until “Tommorrow” .  The Camarillo Community Theatre Season is Here!  Kicking off the season with a Great Performance of Annie (February 20 through March 28). The place:  330 Skyway Drive, Camarillo – Inside the Camarillo Airport Ticket prices:  $18 adults, $13 Seniors/Students/Military and $10 Children Make your Reservations... [Read more...]

How to Avoid Foreclosure

How to Avoid Foreclosure All families know when they’ve become overwhelmed, debt-strapped and at the brink of no return. A pending foreclosure is a sad reality for many but one phone call and a little pre-planning can help you avoid foreclosure. For some reason the majority of homeowners facing a pending foreclosure will bury their heads and wish it away instead of becoming steadfast in saving their... [Read more...]

Overview of the Obama Housing Aid Plan and How it will Help?

Overview of the Obama Housing Aid Plan and How it will Help? While lenders all found a way to say “yes” to every prospective homeowner the loan packages they approved set up a domino effect for defaults. For years lenders approved loan packages that included interest-only and second piggyback loans with small to zero down payments eventually leaving homeowners with troubled mortgages. This accounted... [Read more...]

Choosing Your Lender for Your Mortgage Loan

Choosing Your Lender for Your Mortgage Loan  Until the massive array of foreclosures came upon us most homeowners never knew the difference between a mortgage company or mortgage banker or who their home loan was even serviced by. Why wait until trouble brews? Many consumers assume that “mortgage companies” are banks that lend their own money. In fact, a company that you deal with may be either... [Read more...]

Relocating? Tips to Help Figure Out the Cost

Relocating? Tips to Help Figure Out the Cost Americans are mobile by nature so it should come as no surprise that relocation is a major reason for buying or selling a home. Deciding to pick up and move to a new city can be a great opportunity to increase your standard of living for the entire family for years to come, but there are also pitfalls. Failure to properly consider the full cost of relocation... [Read more...]

14 Weeks Left for the $6,500 Tax Credit

14 Weeks Left for the $6,500 Tax Credit If you’ve been hesitating on utilizing the new $6,500 federal tax credit for repeat home purchases, there’s little time left for procrastination. You now have all the official IRS guidance you’ll need to buy a house, qualify for the credit and pocket the $6,500. The Internal Revenue Service finally published the guidelines for the repeat-purchase tax credit;... [Read more...]

Make Your Own Green Stimulus Package

Make Your Own Green Stimulus Package Gas prices may have come down, but going green still makes sense, because you’ll be saving money as well as helping the environment. Stashing away extra cash at the end of each month is easier than ever thanks to these simple starters and eco-friendly ideas: Replace Lightbulbs: Save $30 per Bulb Florescent bulbs last 10 times longer than regular bulbs and use... [Read more...]

Is Your Home Still A Good Long Term Investment? Yes!

Is Your Home Still A Good Long Term Investment? Yes! One of your primary reasons for owning a home is the investment – Money. You accumulate equity in your home; you save in taxes by owning a home and why pay more money to rent when you can pay less to own your property? Equity is the value of your home. The amount of your loan minus the amount you have already paid toward the home is your equity.... [Read more...]

How Eco-Fabulous Can Be Eco-Nomical

How Eco-Fabulous Can Be Eco-Nomical Becoming eco friendly is the newest favorite pastime but while everyone has their own reasons for “going green” the underlying theme is green could be your wallet’s ally. Everything from conserving water and energy to other essential environmentally conscious choices can put more money back in your pocket and homebuyers are considering these options when purchasing... [Read more...]

Is Green Another Type of Mortgage Not Readily Used?

Is Green Another Type of Mortgage Not Readily Used? Green Mortgages may seem like a new novel idea but they’ve been around for decades. A green mortgage simply is a type of mortgage that provides you a money-saving discount or a bigger loan than normally permitted as a reward for making energy-efficient improvements or for buying a home that meets particular energy-efficiency standards. It also makes... [Read more...]

Considering a “No-Cost” Mortgage Loan?

Considering a “No-Cost” Mortgage Loan? Are you considering an offer for a ‘no-cost’ loan in lieu of a traditional mortgage?  A no-cost mortgage is one on which the lender pays the borrower’s settlement costs, with certain exceptions. ‘No-cost’ loans are generally priced at a higher interest rate than a traditional mortgage. The higher rate allows the lender to make... [Read more...]

New Home Loan Modification and How to Negotiate a Modified Loan with your Lender

New Home Loan Modification and How to Negotiate a Modified Loan with your Lender One of the major programs launched by our new president was helping debt-strapped homeowners with a loan modification plan. Although loan modifications have been around for years the government has introduced new incentives for lenders to approve restructured loan packages. “Making Home Affordable” focuses... [Read more...]