Wednesday, June 27, 2007

Increasing Prices?

The median price of an existing single-family home in California increased 4.8 percent in May and sales decreased 25 percent compared with the same period a year ago, C.A.R. reported this week. "The decline in sales continues to be driven by both tighter underwriting standards since the start of the year and the adverse psychological impact of news regarding foreclosures and the subprime situation," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "In particular, the lower end of the market " which is the part of the market that is most affected by the subprime situation " has seen greater declines in sales and weaker prices than the higher end of the market. This will likely be a recurring theme in the coming months."

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Identity Theft

Here are some helpful tips for making sure you protect yourself against identity theft!

  • Be Careful With Your Mail. Although it seems most convenient to drop mail in your home mailbox, it is best to go ahead and take it to the post office to drop it in a safe place. Most homeowners don't consider that identity thieves might steal your personal information right out of your mailbox, especially bills being sent in for payment. These usually have a check attached, along with all your personal information!

  • No Personal Information Over the Phone. This seems obvious, but many consumers will inadvertently give out personal information to a caller who identifies themselves as your financial institution or credit card company. Remember that they will never call you and ask for information. They will only ask if you call them!

  • Don't Carry Your Social Security Card. There is rarely an occasion where you will need your social security card, yet many people carry theirs in plain sight in a wallet or purse. An identity theft can easily have a driver's license or other personal information ordered in your name is they have your SS card.

  • Never Carry or Write Down Passwords. We have all begun to feel safe, and even complacent, about our financial information because they are now password protected. Writing down those passwords takes away that safety though. Only uses passwords that you can remember by memory, otherwise this takes away the point of the password. Don't use obvious passwords that a thief could figure out from reviewing your personal records.
  • Lock Up Your Personal Affects. Whether you are at work or a gym don't trust that just because you seem friendly, familiar faces your personal information is safe. Unfortunately, many employees have had their entire wallet stolen from a co-worker while they were at lunch.

Hopefully you can make use of these tips to keep your personal information protected and your financial assets in place!

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Monday, June 25, 2007

Mobile home in family park on East End for sale

Hi all! I know of a mobile home for sale in Star Dust Mobile Estates off of Wells and Telegraph Roads in Ventura. It's a 2 bedroom, 2 bath, extra room off kitchen, lots of windows - but it's an older home. The asking price is currently $110,000. The people who are selling are despirate - they have sick parents out of town and they need to sell. Does anyone need a real nice older mobile home?


(805) 901-8805

Thursday, June 21, 2007

What is Title Insurance?

A title policy protects a real estate owner or lender against any loss or damage they might experience because of liens, encumbrances, or defects in the title to a property, or the incorrectness of the related title search.
How does title insurance differ from casualty insurance? Casualty insurers (car, life, health, etc) assume risk for future events, collecting monthly or annual premiums. A title policy insures the past of the real property and the people who owned it, for a one-time premium pad at the close of escrow.
What does title insurance cover? Title insurance protects against claims from various defects such as another person claiming an ownership interest, improperly recorded, fraud, forgery, liens, encroachments, easements and other items that are specified in the actual policy.
Who needs it? Purchasers and lenders need title insurance to know the property they are involved with is insured against various possible title defects. Whether it's a sale, refinance, construction loan...the seller, buyer and lender all benefit.

Courtesy of: Lisa Anglin at Fidelity National Title

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Friday, June 15, 2007

"The ache for home lives in all of us, the safe place where we can go as we are and not be questioned."

-Maya Angelou

Tuesday, June 12, 2007

Loans and Credit and Fico Scores, Oh My!

If you are looking to purchase a home soon, or you already own one and you're thinking about refinancing, it's a good idea to check your credit and make sure all is well before filling out that loan application. There may be errors or things you can do that will better your score and allow you to get a better rate. Most mortgage lenders will give you their best rates with a score of at least 680. If you're hunting for 100% financing, you may need an even higher score. However, there are many other factors such as down payment, whether or not this is a primary residence, and much more that go in to determining your rate.
You'll need to get all 3 credit bureaus and their corresponding scores. You can try My Fico for a convenient place to get all three, or you can order each one individually. When you receive your report, you'll want to make sure there are no errors. If there is, contact the credit bureau and the creditor in writing asking them to make the correction. This could take up to 60 days. In addition to making corrections, you may want to pay down revolving credit as much as you can. Carrying high balances on your revolving credit is a big factor in your FICO score. More information on how to manage your credit can be obtained at the link above.
Managing your credit and getting the best rate possible on your long term debts can be one of the best things you can do for your financial health!

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Sunday, June 10, 2007


Here's a list of open houses you might want to check out today:

93 Sycamore Ventura $399,900 Open 1pm - 4pm

326 Dalton Ventura $784,900 Open 2pm - 4pm

332 N. Alvarado Ojai $630,000 Open 1pm - 4pm

3864 Camulos Piru $449,000 Open 2pm - 4pm

Saturday, June 09, 2007

Key to Getting Your Home Sold Fast!

The key to selling your home fast, and for the best price, is to attract as many buyers as possible. Here are some tips to help you do that:

  • Price your home correctly. Homes that are priced correctly sell for the most money in the shortest amount of time. It's critical to thorougly research what a prospective buyer is willing to pay for a similar properties and price your home accordingly. If you make a mistake here, your home will be overpriced. Overpriced homes usually sell for less in the long run, or worse yet, they don't sell at all.

  • Advertise on the internet. Times have changed. Most buyers don't have the time and patience to go through pages and pages of homes that don't fit their criteria. They want to sign on and go straight to homes that interest them. Make sure your home is as many places on the internet as possible. Lot's of pictures is a plus.

  • Make your home emotional. Homebuyers purchase a home based on emotional appeal more than any other factor. Work with your agent to make needed changes. Small changes can help a homebuyer picture themselves enjoying your home. Make them feel good the minute they walk through the door!

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Wednesday, June 06, 2007

Just Listed!

Beautifully upgraded home with 3 bedrooms and 2 baths on a very quiet country street. This home has a newer kitchen, updated baths, a gorgeous fireplace, and so much more. This home has a lot next door that is also available. Priced to sell at $449,000

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Tuesday, June 05, 2007

What is a Short Sale or Short Pay?

A "short pay-off", also called a "short sale" occurs when an owner sells his or her property for an amount less than what is owed on it, and the existing mortgage lender agrees to accept less than the full amount due.
For example, let's say Jane purchased a home in 2005 for $590,000 and she now owes $570,000 to ABC Bank. She must sell it and move for a a job transfer, but due to a decline of the real estate market, the most she can now sell it for is $545,000.
In order to sell, Jane must pay the $25,000 difference in cash at closing (plus the costs of sale) or ABC Bank must agree to settle for whatever the net proceeds are from the sale.
ABC Bank will require Jane to complete a "short pay-off application" in order to make the decision whether or not to accept a loss on this transaction. If it is determined that Jane does indeed have a financial hardship, ABC Bank will probably agree to accept the loss. If, on the other hand, the financial information that Jane provides in her "short pay-off application" indicates she has other assets and sufficient income, her request for a short pay off will probably be denied.
Having the short pay off approved does not mean that the loan amount is immediately reduced. Jane must find a buyer for the property first.
It is also extremely important that Jane consult with her tax advisor or accountant at this point, since a "short sale" may affect Jane's income tax liability for capital gains or "debt relief income". When a buyer does make an offer on Jane's home, Jane and her realtor will first discuss the offer with ABC Bank. The realtor will prepare an estimate of all the costs of sale based on the offer than has been received: Escrow fees, transfer taxes, city or county fees, commissions any loan costs paid for the buyer by the seller. All proceeds remaining after the costs of sale are deducted will go to ABC Bank. Jane will receive nothing from a short sale.
ABC Bank may advise Jane to accept the offer, or they may insist on obtaining additional opinions of the property's value. Once the final price and terms are accepted, the sale will proceed in a conventional manner, Jane will sign all needed documents throughout the escrow period because she is still the legal owner. ABC Bank will submit a payoff demand for "all net proceeds". The payoff demand may set limits on other fees, such as the real estate broker's commission, or fees paid by the seller for the buyer. In addition, itmay be good for a limited time period, meaning Jane's buyer must move quickly towards closing.

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Monday, June 04, 2007

TWO Lots!

Just Listed. Two lots - one house! Beautiful 3+2 and an extra lot to build another!
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