Community & Real Estate News!

Paradise Awaits You In This French Valley Pool Home

2011-08-03T14:10:00.000-07:00

Paradise Awaits You In This

Beautiful French Valley Pool Home

This home has over 2900 square foot with a GREAT open floor plan! It has 5 bedroom, 3 baths, plus a loft! Also a three car garage with built in cabinets and a custom spot for your refrigerator.

The upgrades in this home include crown molding, 18 inch tile flooring as well as upgraded baseboard throughout. The granite counters, and chiefs sink in the large island make this kitchen a must have! Other upgrades include ceiling fans and window blinds throughout, an alarm system and wiring for your very own surround sound.

As if that's not enough step out back and enjoy your very own island oasis with a BBQ island stocked with a stereo and lighting, refrigerator, hot and cold water in the sink, a large BBQ grill with electric and natural gas. All under your very own shady palapa! Next to this you can sit back and enjoy a wood burning fire pit while overlooking your beautiful pool and spa.

The pool is top of the line with pebble tech, salt water system, and a large shamu step in the entry; and while your not using it you can cover it up with the solar blanket that keeps the water nice and cool! Best of all you can control your whole pool from the indoor/outdoor pool controls.

Really this home has just to much to even list it all, it is absolutely a must see! You wont have to do a thing, just move right in and make it your own!!!

Standard Sale priced at $319,900

Great News For Short Sales!

2011-07-12T09:30:00.000-07:00

Fantastic News today in the world of Short Sales!

Bank of america has changed the way of the future in short sales. Previously if you had an approved short sale but the buyers walked at the end you would have to start all over. But at last the day has come, a new buyer does not mean starting all over. The bank will finally allow a simple name change and everything can continue on as usual. The best news ever! See below for the details that were sent to me. And if you or anyone you know is currently in default with a bank of america home, rest assure that if a short sale is the route your going it is now going to be that much easier!

Click image below to view larger ( for more info)

Congratulations To Our Lucky Winner!!

2011-05-02T15:47:00.000-07:00

Congratulations to our lucky winner for the month of March!

Monthly contest are so much fun, but whats even more fun is getting to know our lucky winners!

Here is Michele the winner of our March contest. She won a $50 Visa gift card. Wahoo!!!! Yay!!

We asked Michele some fun questions....

Do you have kids? If so how many I have 2 girls that keep me busy with school and projects
Whats your favorite color? Pink
What do you love to do in your free time? I love doing crafts, decorating, scrapbooking, and shopping.
Are you reading any books right now? I just read 'Redeeming Love by Francine Rivers.' It was really good. And I’m trying to read The girl with the dragon tattoo, but it hasn’t sucked me in yet.
Tell us five things you are thankful for ( using only one word to describe each) Family, friends, sunshine, laughter, Sundays.
What you will spend your winning gift card on? Probably a decorating project, I always have one of those going.
Anything else you would like to share with us? Yes I would like to say that I was so super excited to win a gift card! I never win any contests! What a nice surprise to wake up to find a Facebook tag that said “congratulations!” Can’t wait to see your next giveaway!)

Thanks for sharing yourself and your family with us Michele, we hope you have fun spending your $50 dollar gift card and thanks so much for taking part in our contest!

See below for some pictures she shared with us of her beautiful family!

And here we are celebrating as I gave her her gift card :)

Yes I wanted to say.....I was so super excited to win a gift card! I never win any contests! What a nice surprise to wake up to find a Facebook tag that said “congratulations!” Can’t wait to see your next giveaway!

Giveaways!

2011-03-15T12:03:00.000-07:00

Time for a new giveaway. Go to WIN TODAY for a chance to win a gift certificate to Barley and Hops in old temecula! check it out!!!

and while you are there like us because we do contest and giveaways monthly :)

Planning! Part 1 of 2

2011-02-15T20:49:00.000-08:00

    Well its no secret then we plan things in life, like dates, weddings, babies ( ok not always the babies part...ha ha ha) We plan to go to dinner with friends, dentist and doctors appointments. But the funny thing is we dont often plan our life. We might plan the things we want or hope to accomplish but not always how to get there.
    So this year I decided to plan my year, I wanted to plan and set goals for myself and our family. We started by doing dream boards. I think it is important to set goals or things to reach for - that way when I have to go to work and I dont feel like it, or when I have to step out of my confort zone I can look at my dream board and see all the things that I want to accomplish and feel a little more motivated to go do what needs to be done.
   Whats a dream board you might ask? Well for us it is a place where we can look and see all the things we want to accomplish or the things we would like to have someday. Oh and my Motto is no dream is to big!
So what we did is took a poster board and cut it in half making two dream boards out of one poster board. Then we got magazines and cut out pictures of things that might represent stuff that we want, want to do, want to have, or things we want to accomplish. For mine I put little things like finish my photography project that I have started called Project 365. For more info visit http://365project.org/
I also put things like eat heathly, running, and increasing the popularity of this blog and our business facebook page ( jwlistings.com facebook page ) all the way on up to my big dreams like own a vacation home in Big Bear. The more dreams you put on your board the better. That way as you do them or get them you can see your progress....helps you stay motivated and on the right track. And for all of you stay at home mommies, maybe this board will help you on the days where you feel like pulling your hair out ( ha ha ha) to remember the things that make you most happy and the things you want out of life.
We also had the kids do them to, I think it is so important to have your goals and dreams in front of you know matter how old you are. It can help you grow and stay focused on the right path of life!

Valentine’s Day CONTEST!

2011-01-19T12:20:00.000-08:00

Our Facebook bussiness page is doing our next monthly contest. If you are not yet friends with us, please click on the link below to add us to get all the information on our monthly drawlings.

http://www.facebook.com/pages/JWListingscom/159515754084492?v=app_4949752878&ref=ts

VALENTINE's Day is coming up and we wanna know how you like to spend it....

Valentine’s Day CONTEST!!! Let us know some of your favorite traditions for Valentine’s Day… POST on our WALL your favorite things to do for Valentine’s Day and be entered for a chance to WIN a $20 STARBUCKS gift card. SHARE this on your wall so your friends can have a chance to play and plus you’ll get another entry into the drawling.

Some Google Useful Search Operators

2011-01-18T11:37:00.000-08:00

Search has become a day to day occurrence in almost every aspect of our business and personal lives; think about shopping without the ability to search and review products – nearly impossible right? - Well at least for a growing segment of the population

Most of us use the Google Search Bar to type our search criteria phrases and then review the results – but wait; there is another layer of Search using Operators that can help you dig even deeper – in fact there are hundreds of different ways of using Operators to perform Queries; I will focus on a few good ones that experts use all the time.

1. Search for an Exact Phrase:

I use this almost daily – if I am seeking a specific phrase from a poem, or in article I type the Search Phrase within “Quotation Marks”. Let's say I am looking for the full poem of Walt Whitman but remember one line of the poem, instead of searching for: I celebrate myself, and sing myself – I perform the same search within Quotation Marks, as in:

“I celebrate myself, and sing myself” (Searches for the specific phrase within the quotation)

Putting search phrases within double quotes get you directly to exact results and eliminates permutations you are not seeking. This is quite useful if performing technical searches, quotation searches, academic papers, testing the indexing of content, but best of all to find out if anyone is scrapping your content – copying your content without your permission.

2. Searching for information within a Specific Website:

Say you are searching for information on a specific Nikon Camera, the D80, within Amazon.com; you can do so by going to Amazon or perform the search in Google by adding the operator site:www.amazon.com as in:

Nikon D80 site:www.amazon.com (Searches for all references of Nikon D80 only within the Amazon.com website)

This is quite useful if you are seeking to find out how many pages within a website have been indexed for a specific keyword or phrase.

Searching for references of books within the Library of Congress would look like this:

Essays of Emerson site:www.loc.gov (would yield results of Emerson’s Essays only in loc.gov)

3. Defining Words and Concepts:

This one is a simple easy to use Operator for finding the definition of words, concepts, or ideas from multiple sources without having to go to a specific website.

Define: Keyword (will give you a list of various definitions for the concept Keyword from Multiple Websites all at once)

Try it - you will be amazed how much you will learn

4. Find your website Most Powerful Pages for a Specific Keyword

Type this in the Google Search bar: site:yourdomain.com keyword

Example: Let’s take Craig Summerall and let’s say he wanted to find the post powerful pages related to the keyword “Lexington SC Real Estate” in his website; he would type in the Google Search bar: site:lexingtonscrealestateguide.com Lexington sc Real Estate

This could be quite a useful tool if say you wish to find out if Google has indexed you for a specific concept; if Shelia Bennett was trying to find the pages that contain the concept “St Helena Island Homes” in her website she would type: site:exitbeaufort.com St Helena Island Homes

PS: another way of finding exact phrases within your website is to add quotation marks as in: site:withexit.com “Real Estate Listings” – this will show you all the pages that contain the exact phrase “Real Estate Listings” in the website withexit.com and ordered by the most powerful pages.

There are more Operators you can use within your Searches, I picked these three because I like them and use them quite a bit. Remember my motto about Internet Marketing – it is storytelling; if you do not become responsible for your Market Story don’t expect your Real Estate Presence to flourish.

For more in depth knowledge on Advanced Operators in Google visit: http://www.googleguide.com/advanced_operators.html - it does get a bit technical but it is a fun to dig deeper into the Google Search.

SOURCE: broker agaent social network.

2011: What’s On the Horizon for Real Estate

2011-01-18T11:22:00.000-08:00

Every year I do predictions for the coming year. And in the 11 years I’ve been doing this, my success rate is 98%. You see, numbers don’t lie. Economic indicators are just that – indicators of where we’re headed.

Here are three of my predictions for 2011:

Home Prices

While most national and local economists are forecasting continued declines in the price of homes, I completely disagree. I believe 2011 is the year prices will increase. There are two reasons for this:

1) the American Recovery and Reinvestment Act (ARRA) is pumping jobs into the economy. More jobs equate to more home buyers … and more home buyers equate to more demand for housing, leading to an increase in home prices in many areas. Those areas that are highly sensitive to the job market will be affected more—positively when there are more jobs; negatively when there are fewer jobs.

2) The affordability index is at an all-time high, which also lures buyers into the marketplace. Both the ARRA and the affordability index are contributing factors in 2010 that will peak in 2011. Home prices should increase slightly in 2011. Look for national increases of 2-3%, and increases of 4-5% in the State of Washington.

Interest Rates

Mortgage rates will likely rise slightly throughout 2011, exceeding the 5% level before year-end. However, rates should remain below 5% until May. The Federal Reserve will not raise rates until the unemployment rate decreases significantly, and will keep the short-term interest rate near zero through 2011.

Consumer Confidence

Research from a variety of sources shows that consumer confidence was on the rise in the last quarter of 2010. This important index rose to 49.9% in October of 2010, and to 54.1% in November of 2010. Additional reports indicate a 5.5% increase in retail sales in the period from November 5 to December 24, as consumer spending continued to make a comeback. While there is always some increase in consumer confidence after an election, if the index continues to improve at this level it will most certainly help the economy and the real estate market in 2011.

This is the kind of market data that tells the real estate story for 2011.

As I said earlier, to be an expert on the topic of real estate you need to do the research. If you really want to become an authority, then take the time to understand what the numbers mean on a national, regional and local level—and how to articulate that information in your day-to-day business.

I’ve given you 3 predictions in this article; however I actually have 20 additional predictions for 2011! While I would love to share those with you, my full list of annual predictions are reserved for my coaching clients, and my Safari Club and Club Zebra clients.

If you’d like more information on my predictions and what they mean for the 2011 real estate market, feel free to send me an email at denise@thelonesgroup.com.

By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.

source : broker agent social network

The Color of the Year for 2011

2011-01-12T13:58:00.000-08:00

Last year, turquoise brightened up home interiors across the country, but now a new color has stepped into the spotlight for 2011.

Pantone recently announced honeysuckle — a reddish pink hue — as this year’s “in” color.

“Honeysuckle is a captivating, stimulating color that gets the adrenaline going – perfect to ward off the blues,” Leatrice Eiseman, executive director of the Pantone Color Institute, said in announcing the color choice. “The intensity of this festive reddish pink allures and engages. … Honeysuckle may also bring a wave of nostalgia for its associated delicious scent reminiscent of the carefree days of spring and summer.”

How to incorporate it: Liven up an interior space with honeysuckle patterned pillows, bedspreads, or tabletop accessories, Pantone suggests. Or, for an even bolder statement, paint an accent wall in honeysuckle for a burst of energy in the kitchen, hallway, or family room, Pantone says.

Source: January 10, 2011 by Melissa Tracey Realtor Magazine

2011-01-06T14:44:00.000-08:00

If you haven't liked our Facebook page yet you can do so here

http://www.facebook.com/?ref=home#!/pages/JWListingscom/159515754084492

We will be having fun monthly contests!

Our 1st contest was for anyone who LIKED our page was entered to win a $50 Visa Gift card and anyone who SHARED the link also had a chance to win a $50 Visa Gift Card.

Our 1st winners this month are:

LORI BACHER for liking it

JESSICA KUJAWA for sharing our page.

THANK YOU for everyone who participated in this contest :)

iPad Sparks Wave of Tablet Imitators

2011-01-04T15:49:00.001-08:00

Many tech companies are talking tablets at this week’s annual International Consumer Electronics Show in Las Vegas. After being mostly blind sided by the popularity of Apple’s iPad last year, several tech companies are looking to debut their own versions of this new form of tablet computing.

Analyst Richard Doherty of the Envisioneering Group says that more than 100 companies will debut versions of a tablet computer. For example, Motorola, Toshiba, Research In Motion, Asus, Acer and Vizio are among the companies expected to unveil tablets during this week’s Consumer Electronics Show.

Apple's chief competitor, Google’s Android, is expected to be used in many of the new tablets.

Samsung released its 7-inch screen Galaxy Tab in November. Other companies’ debuts may still be awhile. For example, tablets from Toshiba and Motorola aren’t expected until the second half of the year.

The new tablets are expected to fill in gaps with features the current iPad doesn’t have. For example, the Tab and Toshiba’s Tablet will feature two cameras for videos and photos, a USB port as well as a slot for SD memory cards for photos, and work with Adobe Flash software.

Apple’s CEO Steve Jobs isn’t worried about the competition and called the new tablets “dead on arrival." He said many of the competing tablets will be too small with 7-inch screens. "Seven-inch tablets are tweeners -- too big to be a phone and too small to compete with the iPad," he said.

Analysts expect Apple to announce it's next version of the iPad soon.

Source: “Is 2011 the Year of the Tablet?; Tech Companies to Play iPad Catch-up at CES,” USA Today (Jan. 4, 2011)

Holiday Decor Can Catch a Buyer's Eye

2010-12-08T15:07:00.000-08:00

Tastefully done holiday decorations can be the eye candy that captures a buyer’s interest, says Lee Ralph, an associate with Coldwell Banker North Tampa (Fla.).

“We even negotiated a contract on Christmas Day last year,” Ralph says.

Ralph suggests using elegant themes and warns against over-decoration. “That may keep the buyer from being comfortable and able to visualize the home as their own,” Ralph says.

Designer Rick Davies, co-owner of Lafayette & Rushford Home, a home decor store in Dunedin, Fla., makes these suggestions:

· Work with what can’t be changed. Work carefully with the color, style, and age of the home.

· Consider proportions. Don’t put a huge wreath on a tiny door.

· Light the way. Simple pathway lights are a gracious way to greet potential buyers.

· Be subtle. Choose contemporary colors, including bright greens, lemongrass, golds, and ambers.

· Natural is in. Natural-look and organic materials are in vogue, including berries, artichokes, moss, twigs, acorns, and feathers.

7 Trends That Will Drive The Future of Housing

2010-11-17T14:10:00.000-08:00

1. Big builders are wringing the extras out of construction costs and dropping the national average cost-to-build 36 percent to $52 per square foot.

2. Starting in 2011, Energy Star will ramp up its efficient design and quality installation standards. To get Energy Star certification, builders will have to install the right insulation, HVAC systems, and other features related to energy efficiency correctly every time.

3. Sheds are the next evolution. As homes get smaller, a separate shed will become a popular home addition.

4. There are 81 million "Echo Boomers" who were born from 1981 to 1999, compared to just 78 million Baby Boomers born from 1946 to 1964. These children and grandchildren of Boomers will drive home-building for years.

5. By 2015, demographers say, more than two out of every five households occupied by Generation Y people born between 1981 and 1999 will be WINKs (women with incomes and no kids).

6. Make room for the "Sandwich Generation" – Baby Boomers living with both their kids and their parents. These families like having two master suites, a second cooking area, and lots of storage.

7. Baby Boomers want to keep working and continue to live where they have always lived. They want a first-floor master bedroom near the washer and dryer and lots of convenient storage.

3 Reasons To Sell Your Home

2010-11-17T13:53:00.000-08:00

1. The market is improving.

2. Homes in great locations are always in demand.

3. Spring is coming soon and many potential buyers are starting their online search right after the hoildays.

Home purchases decline

2010-09-15T15:09:00.000-07:00

Home Purchase Applications Decline

The number of applications for mortgages to purchase homes declined 0.4 percent last week compared to the previous week on an adjusted basis, probably because the Labor Day holiday took people’s minds off home shopping.

On an unadjusted basis, the purchase index declined 21.9 percent compared to the previous week and was down 39.7 percent compared to the same week a year ago.

Overall, mortgage applications, including applications to refinance, decreased 8.9 percent on a seasonally adjusted basis compared to the previous week and were down 27.4 percent on an unadjusted basis.

Mortgage rates remained low:

· 30-year fixed-rate mortgages decreased to 4.47 percent from 4.50 percent.

· 15-year fixed-rate mortgages decreased to 3.96 percent from 4 percent.

· 1-year ARMs decreased to 6.89 percent from 7 percent.

Source: Mortgage Bankers Association (09/15/2010)

Mortgage Rates Continue to Fall

2010-08-30T09:24:00.000-07:00

Mortgage Rates Continue to Fall

Average interest on long-term mortgages slid to a record low for the eighth time in nine weeks and could dip more. Freddie Mac reports that 30-year fixed loans averaged 4.36 percent this week, down from 4.42 percent a week ago; the 15-year fixed rate fell to a new low of 3.86 percent from 3.90 percent; and adjustable-rate mortgages were also below 4 percent.

The Mortgage Bankers Association's Michael Fratantoni said the group expects that rates "will begin to rise as the economic situation improves along with jobs."

Source: Pittsburgh Tribune-Review, Sam Spatter (08/27/10)

It's Great Time for Housing Deals

2010-07-26T11:24:00.000-07:00

It's Great Time for Housing Deals

Paying off an underwater mortgage and buying a better home could be the best tactic in this troubled market.

"If you are trading up, what better time than when interest rates are at record lows and the cost of the trade-up is much less than it used to be?" says Christopher J. Mayer, a Columbia Business School economist.

With 15-year fixed-rate mortgages at about 4.5 percent, it also makes sense to pay off the mortgage and keep the house. "At this point," says Jay Brinkmann, chief economist of the Mortgage Bankers Association in Washington, D.C., "if they don't have anything else that is bringing a tremendous return, then they are buying themselves an annuity by paying their house off sooner than they needed to."

Source: The Wall Street Journal, M.P. McQueen (07/24/2010)

Home Sales Rise

2010-04-05T11:13:00.000-07:00

Pending Home Sales Show Healthy Gain

Pending home sales rose in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months. Lawrence Yun, NAR chief economist, says the improvement is another hopeful sign. “The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten,” he says. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.” Pending home sales by region:
Northeast: the index rose 9.0 percent to 77.7 in February and is 18.9 percent higher than February 2009.
Midwest: jumped 21.8 percent to 97.9 and is 18.7 percent above a year ago.
South: increased 9.2 percent to an index of 107.0, and the index is 17.5 percent higher than February 2009.
West: the index fell 4.8 percent to 98.0 but is 14.6 percent above a year ago.

Source: NAR

Interest Rates

2010-03-19T10:45:00.000-07:00

Winter Storms Hold Mortgage Rates in Place Interest on 30-year fixed mortgages averaged 4.96 percent this week, barely up from 4.95 percent a week ago, while 15-year rates nudged up to 4.33 percent from 4.32 percent, Freddie Mac reported.
Freddie Mac chief economist Frank Nothaft said the virtually unchanged interest on fixed-rate mortgages was the result of the effects of recent snow storms on the housing market.Also for the week ending March 18:• Five-year adjustable-rate mortgages rose to 4.09 percent from 4.05 percent.• One-year ARMs fell to 4.12 percent from 4.22 percent a week ago.

Source: The Wall Street Journal (03/19/10)

Avoid loan modification scams

2010-03-03T20:53:00.000-08:00

New Web site launched to prevent loan mod scams

The U.S. Dept. of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, launched PreventLoanScams.org, a new Web site to prevent loan modification scams.
The Loan Modification Scam Prevention Network developed the Web site to provide homeowners with a single destination to report alleged scammers. Complaints filed online are added to a national complaint database and forwarded to the appropriate law enforcement agencies for review. The Network estimates that the Web site will assist approximately 50,000 homeowners affected by scams. Additionally, HUD has directed its local fair housing and housing counseling grantees to begin reporting alleged loan modification scams via the Web site.

Before you decide on using an outside source to do a loan modification for you...make sure you check out this site.

4 Reasons to Sell Now

2010-02-08T12:26:00.000-08:00

4 Reasons to Sell Now

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
* Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
* Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
* Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
* Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.Source: McClatchy Tribune, Kate Forgach (02/07/2010)

What Will the Market's New Normal Be?

2010-02-03T10:44:00.000-08:00

What Will the Market's New Normal Be?

In a new study, "Housing in America: The Next Decade," Urban Land Institute senior resident fellow John McIlwain says the housing market will not return to what it was prior to the downturn but rather that a "new normal" will take its place. He expects another 10 percent decrease in residential prices this year, a jump in the number of borrowers abandoning "underwater" mortgages, and a change in consumer perceptions of homeownership. "The emotional impact on the children and parents and disillusion about the 'joys' of homeownership will be intense; new attitudes to homeownership and the American dream will emerge," McIlwain writes. He expects home price appreciation to hover around 1 percent or 2 percent per year after the market recovers and the national homeownership rate to drop from 67 percent currently to 62 percent by 2020. In the coming decade, McIlwain expects the following:
Older baby boomers to move to urban, mixed-use, mixed-age centers near family instead of retiring to Sun Belt communities;
Immigrants to snub the suburbs in favor of more close-knit communities;
Younger boomers to face the challenges of lost home equity and a smaller pool of move-up buyers;
Generation Y to rent for long periods by choice or because they are paying off student loans or have stagnant incomes.

Source: Inman News (02/01/10)

Buy a Fannie Mae Home and get Rewarded!

2010-01-30T11:27:00.000-08:00

Fannie Mae to Offer Closing Cost Aid on Foreclosures
The largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances.The goal of Fannie is to clear out the nearly 50,000 properties it has in inventory. Their goal....."Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover," said Terry Edwards, executive vice president for credit portfolio management, in a statement.

What does this mean for you??? This means when you buy a Fannie Mae home 3.5% of your closing cost will be paid for, saving you money.

To find a Fannie Mae home today call me at (951)240-9428 or email jwoldenga@roadrunner.com

No more flip rule!

2010-01-27T12:39:00.000-08:00

HUD Temporary removes 'Flipping Requirements Rule'
For contracts signed on/after February 1, 2010

HUD has announced a temporary waiver of the 90 Day Flipping Requirements Rule. The waiver is effective for FHA purchase transaction loans with purchase contracts signed on or after February 1, 2010. Loans with purchase contracts prior to February 1, 2010 are not eligible for the waiver.
The waiver is limited to those sales meeting the following general conditions which are designed to protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices to unsuspecting borrowers:
· All transactions must be arms-length, with no identity of interest between the buyer and seller or any other parties participating in the sales transaction, including:
· Seller must hold title
· LLC’s, Corporations and trusts must be established in accordance with state and federal law
· No evidence of previous flipping within 12 months
· Evidence that property was marketed openly; via MLS, auction, FSBO
· If the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets the following conditions:
· Significant work has been done to the home (documented by a second appraisal verifying that legitimate repair and rehabilitation has been done to substantiate an increase more the 20%); or,
· In cases where no work has been done, the appraiser must provide explanation to support the increase since the prior transfer; and,
· A property inspection must be provided to the buyer prior to closing. (The lender may charge the borrower for the inspection.) The inspector does not need to be FHA approved, but must have NO interest in property, must no receive compensation other than from the lender and may not be involved with the repairs recommended from inspection. At a minimum, the inspection MUST include:
1. Property structure, foundation, floor, ceiling, walls and roof;
2. Exterior, siding, doors, windows, any decks, balconies, walkways and driveways;
3. Roofing, plumbing, all electrical, heating and A/C systems;
4. All interiors;
5. All insulation/ventilation systems as well as fire places and fuel burning appliances.
· The waiver does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

The waiver is scheduled to be effective for one year, unless otherwise extended or withdrawn by HUD. If HUD discovers that there is a significant increase in mortgage defaults and claims attributable to the waiver, HUD may withdraw the waiver immediately.
The complete text of the Waiver is available on the HUD website at: http://www.hud.gov/offices/hsg/sfh/waivpropflip2010.pdf

REALTOR® Magazine-Daily News-Nine Consecutive Gains for Pending Home Sales

2009-12-01T09:47:00.000-08:00

REALTOR® Magazine-Daily News-Nine Consecutive Gains for Pending Home Sales

Nine Consecutive Gains for Pending Home Sales Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the NATIONAL ASSOCIATION OF REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.”

By Region
* Pending sales in the Northeast surged 19.9 percent to 100.2 in October and is 44.2 percent above a year ago.
* In the Midwest, the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008.
* Sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago.
* In the West, the index fell 11.2 percent to 127.7 but is 21.9 percent above October 2008.

Not Out of the Woods Yet
Yun cautioned that home sales could dip in the months ahead. “The expanded tax credit has only been available for the past three weeks, but the time between when buyers start looking at homes until they close on a sale can take anywhere from three to five months. Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process.“
Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families,” Yun said.Source: NAR

Happy Thanksgiving!

2009-11-23T12:12:00.000-08:00

Wanting to wish everyone a Happy Thanksgiving. To each of you, I am most thankful for. Hope you all have a fantastic holiday!

Jessica Woldenga

Real Estate Facts

2009-11-23T12:07:00.000-08:00

Real Estate Market FAQs Got questions about where real estate is headed? Here are informed answers to some of the most frequently asked questions about today’s housing market.

When will housing hit bottom?
There isn’t any single answer to this question. It depends on where you live. Home prices are rising again in the most convenient suburbs of such cities as New York and Washington, D.C. California has seen an all time high in the past three months. In other places that are in less demand, prices continue to fall.

How can I figure out the value of my home?
Talking to a real estate professional and/or hiring an appraiser is the best idea. But even after getting a professional opinion, it is hard to tell what a home will sell for until you put it on the market.

Is now a good time for a renter to buy a home?
It could be. Prices in many areas are down significantly from their peak a couple of years ago. Plus, Congress has extended the tax credit for first-time home buyers and added a $6,500 credit for many previous owners of homes who sign a contract to buy by April 30, 2010.

Should I invest in foreclosed homes at auction?
A foreclosure/auction home can be a risky buy, even for the most experienced real estate investors. Use caution.

Source: The Wall Street Journal, James R. Hagerty (11/17/2009)

Tax Credit Extended Plus more......

2009-11-05T13:24:00.000-08:00

Both Houses OK Tax Credit Extension, and Expansion

The House today and the Senate yesterday passed legislation to extend the $8,000 home buyer tax credit to May 1, 2010 for first-time buyers. But they did not stop there it gets better.............
They have added a $6,500 tax credit for repeat buyers if they've lived in their home for five of the past eight years. Home prices are capped at $800,000.

Yes you heard that right not only do first time buyers benefit but now any buyer benefits *

The legislation in both houses was included in a bill to extend unemployment benefits and is expected to be signed by President Obama shortly. “REALTORS® appreciate the swift action by Congress to extend the home buyer tax credit and expand it to some current homeowners,” says NAR President Charles McMillan. “As the leading advocate of housing and real estate issues, we urge President Obama to sign this legislation into law quickly to keep the momentum going in the fragile recovery of the nation’s housing market.”Under the bill, income limits are expanded to $125,000 for individuals and $225,000 for joint filers. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.
Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The deadline for members of the military serving out the U.S. for at least 90 days between Jan. 1, 2009, and May 1, 2010, has been extended one year.Taxpayers can claim the credit on their federal income tax returns.
If the credit exceeds their tax bill, the government will issue a check. Taxpayers will be able to claim the credit on their 2009 income tax return for purchases made in 2010.

Source: The Associated Press (11/5/2009)

* Please talk to your tax advisor on the details of this program

Fha And Condo's

2009-11-05T12:52:00.000-08:00

FHA Delays Implementing Rules for Condo Loans
The Federal Housing Administration says it will implement a new approval process for condo financing on Dec. 7 – the second time the deadlines have been pushed back. The delay also brings a relaxation of new rules, according to the Mortgage Bankers Association, which has been negotiating with FHA. Under the latest iteration of the rules, 50 percent of units in a condo project will be eligible for FHA funding and up to 100 percent will be eligible in “well-established” projects with a minimum of 10 percent reserves.
Half of the units will have to be sold to owner-occupants before FHA will back any loans.In an important move, FHA said it wouldn't require the recertification of some 40,000 projects that have already been certified for FHA financing. "If what the MBA says is the deal, it's essentially a nonevent," said mortgage banker Faramarz Moeen-Ziai.The U.S. Department of Housing and Urban Development confirmed a delay in implementation but wouldn’t comment on the changes the MBA says FHA has agreed to.[Editor's note: FHA Commissioner David Stevens talks about the new condo rules and other FHA issues, including appraisal guidelines and the agency's credit performance, in an interview with REALTOR® Magazine.

Source: Inman News, Matt Carter (11/05/2009)

New Home Buyer tax credit

2009-10-10T14:32:00.000-07:00

Aides: Home Buyer Tax Credit Extension Likely

Extending the First-Time Home Buyer Tax Credit, due to expire at the end of November, is high on the Democratic Congressional to-do list, legislative aides said. After Wednesday’s meeting with President Obama and House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) released a statement that the government should “continue efforts to strengthen the housing market by extending the home buyer tax credit.”Mark Zandi, chief economist at Moody’s Economy.com, who is a consultant to Democrats in the administration and Congress, is advocating extending the credit through August and making it available to all home buyers. He said failure to extend the credit just as more foreclosures enter the market will push housing prices down. Also, on Thursday, the House is expected pass legislation to extend the credit through 2010 for people who have been out of the country in the military, intelligence, or foreign services.Source: The New York Times, Jackie Calmes (10/07/2009)

hmmmm interesting. So what do you think? Will/should they extend the credit?

We sure think so......Extending the tax credit will not only help to keep the housing market up, but it will also allow first time homebuyers to purchase a new home. In this market many of the properties we are seeing need to carpet and paint, in addition to sometimes replacing the lawn. This credit allows first time buyer's to get a house and repair what is needed.

Lets keep our fingers crossed and hope it gets extended :)

Bathroom Upgrades Pay Off

2009-10-05T13:52:00.000-07:00

Did you know........
That more than 80 percent of new single-family homes have at least two bathrooms, an average bathroom is 300 square feet of floor space, or 12 percent of the total area, according to a study by the National Association of Home Builders.
The home builder’s study reports a major return on value for extra bathrooms: "When the number of bathrooms is approximately equal to the number of bedrooms, an additional half-bath adds about 10 percent to the home's value, and one additional bath adds about 19 percent."A mid-range bathroom remodel, which costs $10,500 on average nationwide, repays a home buyer at least 100 percent of the outlay when the property is sold, the home buyer study concludes.
Wow....that's amazing!
And Did you also know........
That when it comes to first impression of a home, a interested home buyer is most likely to remember the bathrooms. hmmmm interesting.
Well it's true because when it comes to decorating they say your bathroom is one of the most important places to decorate. Its the place that people remember the most. In fact interior designers will tell you that if you only have $30 dollars to spend on decorating your home your bathroom (guest specifically) is where you should spend it!

What does your bathroom represent?

Check out this link to make your bathroom it's best and check out pictures below of beautiful bathroom's done on a budget from hgtv.

http://www.hgtv.com/bathrooms/bathrooms-on-a-budget-our-10-favorites-from-rate-my-space/pictures/index.html

Tax Credit Soon Coming To An End!

2009-10-04T23:11:00.000-07:00

Homebuyer's Tax Credit Set to Expire

The $8,000 first time homebuyer's credit is set to expire in November and buyers are busy finding the best deals. Can you believe it....Riverside County home sales rose 14% in July according to market analys. With 7,000 transactions closing escrow, 299 were in Murrieta and 225 in Temecula. Wow that's Great!

The recent rise in home sales is being attributed to both historic low prices, down over 40% from their peak in 2007, and the federal tax credit that grants up to $8,000 to first time homebuyers that is slated to expire in November of this year. Originally expected to end in June, Congress took action to extend home buying credit in an effort to help qualified buyers find great deals on foreclosures.

The tax credit program has been a tremendous success by all accounts, with nearly 20,000 homes in Riverside County changing hands this year. Buyers hoping to get the best prices on homes in addition to the tax credit has made the decision of first time home buying a much easier choice.

But for those of you who have not yet taken advantage of this credit not to worry as they say.....it's never to late....well for now that is. Take advatage of this great time to buy a home....and recieve that great credit. But act fast because it is coming to an end (November 30th) Contact us today and we would be happy to help :) www.jessicawoldenga.com