I am so tired of the doom and gloom about the real estate market that the news reports. When the news puts such a negative spin on it I am not sure where they are coming from. What they fail to mention is that there isn't just one real estate market. "The Market" varies from state to state, zip code to zip code, neighborhood to neighborhood and sometimes street to street. They also fail to mention that the local activity is picking up. Inventory is shrinking, pending sales are up and time on market is down. We are running into multiple offer situations when the property is attractive and priced correctly. Homes are recieving offers and selling sometimes above list price. There is no denying that the mortgage issues put many home sellers in horrible situations. But if you are currently looking to buy in our market you will see there is a lot of activity and competition for homes. But the news continues to preach the doom and gloom scaring many buyers and sellers and giving them misinformation.
Visit the link below and you will see the positive reality in the San Diego market.
Daily Real Estate News May 28, 2008
Plenty of Positive Market News Today
Hungry for a little good real estate news? Leon d’Ancona, president of IMS Inc., has something to cheer you up.
D’Ancona, who provides real estate information to the industry, has set up a Web site http://www.happyrenews.com/ that lists 2,319 markets in the United States where homes are selling well.
For instance, Loganville, Ga., homes sold 38.5 percent faster in April than they did in March, and sales of homes in Avondale, Ariz., increased by 64 percent in April compared with March
"The problem with glass-is-half-empty stories is that they have an undue psychological impact on markets that is not borne out by all the facts," says d’Ancona. "We know, because it's our business to know, that there are hundreds of cities and thousands of neighborhoods in the United States right now where the market is very healthy, thank you.”
Wednesday, May 28, 2008
Friday, May 23, 2008
Positve Cash Flow
I just helped a client purchase an investment property that will immediately give him positive cash flow. The condo was sold for $140,000, the HOA’s had been paid for 4 years in advance. He is planning on renting for $1400 per month. (Other units in the complex are currently renting for $1300-$1500.) The cost of the loan, taxes and insurance is approximately $1050. This leaves $350 in positive cash flow.
Many believe this is the “bottom”. Prices are beginning to stabilize. Inventory is shrinking, pending sales increasing and time on market is shortening. We are also running into multiple offer situations.
The point is that if you or someone you know is considering taking advantage of lower prices, now could be the time. If you want to move up to a larger home or buy an investment property there are some great deals out there. Call me and let me know what you are looking for and I will help you find it.
I am here to help!
Many believe this is the “bottom”. Prices are beginning to stabilize. Inventory is shrinking, pending sales increasing and time on market is shortening. We are also running into multiple offer situations.
The point is that if you or someone you know is considering taking advantage of lower prices, now could be the time. If you want to move up to a larger home or buy an investment property there are some great deals out there. Call me and let me know what you are looking for and I will help you find it.
I am here to help!
Thursday, May 22, 2008
Short Sale Information
You may be hearing more about Short Sales. i found this article that you might find informative. If you are considering selling your home "short" or buying a short sale property, call me. I can answer your questions and help you with the process.
Short Sales Rise as Homeowners Seek Alternative to Foreclosure
RISMEDIA, May 22, 2008-(MCT)-In real estate, it’s the sale of a home or property for less than the amount owed the lender. The owner nets nothing on the sale and until recently, it also meant a tax liability, as the IRS considered the difference between the sale price and outstanding loan amount as income.
It’s not a favorable option, but a short sale can be the best way for a homeowner to get out from under a loan and avoid foreclosure, according to local real estate representatives.
Trouble is, a successful short sale is entirely dependent on the lender’s authorization. A seller may find a willing buyer, but unless the lender agrees to take a loss on the property, the sale won’t happen.
And as more homeowners near foreclosure — in Deschutes County, there were 528 notices of default, a precursor to foreclosure proceedings, filed between Jan. 1 and Thursday, a 303.5 percent increase over the same period last year — more homeowners are pursuing short sales.
Tom Greene, the president of the Central Oregon Association of Realtors, said roughly 7 percent of the homes currently listed in Deschutes County are short sales. That represents a huge jump, he said, as short sales used to be exceedingly rare.
“This is a new phenomenon,” Greene said. “You used to run into them once every six months.”
Short Sale 101 The reason most homeowners ask a lender for a short sale — be it hardship, a job transfer or a bad investment — is to avoid foreclosure, said Cat Zwicker-Grant, principal broker with Desert Sky Real Estate in Redmond.
The upside of a short sale is it doesn’t negatively affect a homeowner’s credit score, the way a foreclosure would.
The downside is the homeowner surrenders their investment in the home and has to certify he or she has not profited from the sale in any way. In addition, most lenders want proof a homeowner doesn’t have other financial means to pay for the loan, Zwicker-Grant said.
“You are asking the bank to accept a loss on your behalf, so if they do that, they want to know you are worthy,” she said.
In other words, if it’s a second home a homeowner is trying to short-sell, the chances a bank would accept one are slim, Zwicker-Grant said.
Filing for bankruptcy won’t help, either. If you can’t make mortgage payments, you can’t keep your home, said Deidra Cherzan, a Bend attorney who specializes in bankruptcy filings.
Bankruptcy law does provide exemptions for primary residences but only if the mortgage is in good standing and the filer can continue to make payments, she said.
The key to a successful short sale is to start the process early, Zwicker-Grant said. Contact the lender, and begin the application process. The next step is to list the house and find a buyer. If one is found, the buyer submits the offer to the lender, which approves or rejects the sale.
The trick is timing, Zwicker-Grant said. Most homeowners don’t begin the short-sale process until they are behind on payments. This often puts homeowners up against the clock.
A notice of default is generally sent out after 90 days of nonpayment, and a house can be put up for auction by a lender 90 days later. If no one bids on the home, it is foreclosed on by the lender and the lender assumes ownership.
Banks or lenders typically don’t want to own real estate, so even though they may take a loss on a short sale, it’s often less costly in the long run, considering the amount a bank would pay for title fees, to maintain a home, cover its taxes and pay real estate commissions when it sells, Zwicker-Grant said.
Zwicker-Grant said banks can be choosy when it comes to approving short sales and accepting bids. Like other sellers, they often hold out for the best possible deal.
“Just because the first offer came in, (the lender) looks at what’s going to close the quickest and get them the most money,” Zwicker-Grant said. “The bank is really in the driver’s seat.”
As of Wednesday, there were 131 short-sale homes listed in Bend and 68 in Redmond, representing roughly 9 percent and 7 percent of the listings in those markets, respectively, Greene said. Since Jan. 1, 17 short sales have closed in Bend and 34 in Redmond, according to Greene.
Valerie Hunter, principal broker at H & H Preferred Real Estate in Redmond, said she has helped close nearly 40 short sales in Central Oregon in recent months, the most she’s seen in the eight years she’s specialized in them. But as banks back up with short-sale applications, Hunter said the process is getting harder.
“Seventy-five percent don’t get successfully negotiated,” Hunter said.
“It’s a lot of work to do a short sale, and I try not to do them anymore because they are becoming more of a headache.”
If a short sale is approved, and a buyer purchases the seller’s home, the seller is not completely out of the woods. In past years, the amount of the loan forgiven by the lender — the difference between the outstanding loan amount and the sale price — was considered taxable income by the IRS.
That changed in December when President Bush signed the Mortgage Forgiveness Debt Relief Act of 2007. The act excludes income derived from debt forgiveness on a principal residence from taxation, but only for debt forgiven in 2007, 2008 or 2009.
For that reason and because of market conditions, Zwicker-Grant is seeing more homeowners take advantage of the process.
“Short sales have always been around, but we’ve never seen it so prevalent,” Zwicker-Grant said.
Copyright © 2008, The Bulletin, Bend, Ore.
Distributed by McClatchy-Tribune Information Services
Short Sales Rise as Homeowners Seek Alternative to Foreclosure
RISMEDIA, May 22, 2008-(MCT)-In real estate, it’s the sale of a home or property for less than the amount owed the lender. The owner nets nothing on the sale and until recently, it also meant a tax liability, as the IRS considered the difference between the sale price and outstanding loan amount as income.
It’s not a favorable option, but a short sale can be the best way for a homeowner to get out from under a loan and avoid foreclosure, according to local real estate representatives.
Trouble is, a successful short sale is entirely dependent on the lender’s authorization. A seller may find a willing buyer, but unless the lender agrees to take a loss on the property, the sale won’t happen.
And as more homeowners near foreclosure — in Deschutes County, there were 528 notices of default, a precursor to foreclosure proceedings, filed between Jan. 1 and Thursday, a 303.5 percent increase over the same period last year — more homeowners are pursuing short sales.
Tom Greene, the president of the Central Oregon Association of Realtors, said roughly 7 percent of the homes currently listed in Deschutes County are short sales. That represents a huge jump, he said, as short sales used to be exceedingly rare.
“This is a new phenomenon,” Greene said. “You used to run into them once every six months.”
Short Sale 101 The reason most homeowners ask a lender for a short sale — be it hardship, a job transfer or a bad investment — is to avoid foreclosure, said Cat Zwicker-Grant, principal broker with Desert Sky Real Estate in Redmond.
The upside of a short sale is it doesn’t negatively affect a homeowner’s credit score, the way a foreclosure would.
The downside is the homeowner surrenders their investment in the home and has to certify he or she has not profited from the sale in any way. In addition, most lenders want proof a homeowner doesn’t have other financial means to pay for the loan, Zwicker-Grant said.
“You are asking the bank to accept a loss on your behalf, so if they do that, they want to know you are worthy,” she said.
In other words, if it’s a second home a homeowner is trying to short-sell, the chances a bank would accept one are slim, Zwicker-Grant said.
Filing for bankruptcy won’t help, either. If you can’t make mortgage payments, you can’t keep your home, said Deidra Cherzan, a Bend attorney who specializes in bankruptcy filings.
Bankruptcy law does provide exemptions for primary residences but only if the mortgage is in good standing and the filer can continue to make payments, she said.
The key to a successful short sale is to start the process early, Zwicker-Grant said. Contact the lender, and begin the application process. The next step is to list the house and find a buyer. If one is found, the buyer submits the offer to the lender, which approves or rejects the sale.
The trick is timing, Zwicker-Grant said. Most homeowners don’t begin the short-sale process until they are behind on payments. This often puts homeowners up against the clock.
A notice of default is generally sent out after 90 days of nonpayment, and a house can be put up for auction by a lender 90 days later. If no one bids on the home, it is foreclosed on by the lender and the lender assumes ownership.
Banks or lenders typically don’t want to own real estate, so even though they may take a loss on a short sale, it’s often less costly in the long run, considering the amount a bank would pay for title fees, to maintain a home, cover its taxes and pay real estate commissions when it sells, Zwicker-Grant said.
Zwicker-Grant said banks can be choosy when it comes to approving short sales and accepting bids. Like other sellers, they often hold out for the best possible deal.
“Just because the first offer came in, (the lender) looks at what’s going to close the quickest and get them the most money,” Zwicker-Grant said. “The bank is really in the driver’s seat.”
As of Wednesday, there were 131 short-sale homes listed in Bend and 68 in Redmond, representing roughly 9 percent and 7 percent of the listings in those markets, respectively, Greene said. Since Jan. 1, 17 short sales have closed in Bend and 34 in Redmond, according to Greene.
Valerie Hunter, principal broker at H & H Preferred Real Estate in Redmond, said she has helped close nearly 40 short sales in Central Oregon in recent months, the most she’s seen in the eight years she’s specialized in them. But as banks back up with short-sale applications, Hunter said the process is getting harder.
“Seventy-five percent don’t get successfully negotiated,” Hunter said.
“It’s a lot of work to do a short sale, and I try not to do them anymore because they are becoming more of a headache.”
If a short sale is approved, and a buyer purchases the seller’s home, the seller is not completely out of the woods. In past years, the amount of the loan forgiven by the lender — the difference between the outstanding loan amount and the sale price — was considered taxable income by the IRS.
That changed in December when President Bush signed the Mortgage Forgiveness Debt Relief Act of 2007. The act excludes income derived from debt forgiveness on a principal residence from taxation, but only for debt forgiven in 2007, 2008 or 2009.
For that reason and because of market conditions, Zwicker-Grant is seeing more homeowners take advantage of the process.
“Short sales have always been around, but we’ve never seen it so prevalent,” Zwicker-Grant said.
Copyright © 2008, The Bulletin, Bend, Ore.
Distributed by McClatchy-Tribune Information Services
Monday, May 19, 2008
Foreclosure Help
Here are some tips for you if you are facing foreclosure. Let me know if you have any questions or if there is anything I can do to help.
Daily Real Estate News | May 19, 2008
Advice for Anyone Facing Foreclosure
Jacob Benaroya, president and managing partner of Biltmore Capital Group, which purchases distressed loans from a wide array of lending companies, offers these seven tips for home owners facing foreclosure.
Don’t hide. Open the mail; answer the phone. Respond.
Be proactive. Contact the bank or lending institution and discuss your financial situation.
Know your mortgage rights. Review loan documents so you know what your lender may do if you can't make payments.
Avoid foreclosure prevention companies. Don’t pay money for foreclosure advice..
Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. They’ll help you understand the law and your options, organize your finances and represent you in negotiations with your lender if assistance is required.
Prioritize spending. After health care, keeping your home should be your first priority. Review your finances and see what spending can be cut in order to make your mortgage payment. Look for optional expenses - cable TV, memberships, entertainment - that can be eliminated. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.
Use other assets. Do you have assets such as a second car, jewelry, a whole life insurance policy-that can be sold to help reinstate the loan? Can anyone in the household bring in additional income?
Source: Biltmore Capital Group (05/16/2008)
Daily Real Estate News | May 19, 2008
Advice for Anyone Facing Foreclosure
Jacob Benaroya, president and managing partner of Biltmore Capital Group, which purchases distressed loans from a wide array of lending companies, offers these seven tips for home owners facing foreclosure.
Don’t hide. Open the mail; answer the phone. Respond.
Be proactive. Contact the bank or lending institution and discuss your financial situation.
Know your mortgage rights. Review loan documents so you know what your lender may do if you can't make payments.
Avoid foreclosure prevention companies. Don’t pay money for foreclosure advice..
Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. They’ll help you understand the law and your options, organize your finances and represent you in negotiations with your lender if assistance is required.
Prioritize spending. After health care, keeping your home should be your first priority. Review your finances and see what spending can be cut in order to make your mortgage payment. Look for optional expenses - cable TV, memberships, entertainment - that can be eliminated. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.
Use other assets. Do you have assets such as a second car, jewelry, a whole life insurance policy-that can be sold to help reinstate the loan? Can anyone in the household bring in additional income?
Source: Biltmore Capital Group (05/16/2008)
Thursday, May 15, 2008
Spring Gardening Help
Spring is in the air and we are all starting to spend more time outside. When we head outside we may notice that our yards could use a little help. Before you take off to your local nursery, read below for some valueable tips that could save you time and money.
Green in the Thumb, Not the Wallet? Top Tips for Smart Garden Shopping
By Beth Botts
RISMEDIA, May 15, 2008-(MCT)-For beginners, especially, a garden center can be overwhelming and bewildering: the colors and dazzle, the crowds, the high spirits, the pie-in-the-sky fantasies, the peer pressure, the devil-may-care impulse buying that can leave a wallet gasping. But some preparation, a bit of planning and a little knowledge can cut the problem down to size and improve the odds for plants (and wallets).
We asked Elizabeth Hoffman, owner of West End Florist & Garden Center in Evanston, Ill., (800-228-8755 or westendflorist.com) and George Rumsey, perennials co-chair for the Hyde Park (Ill.) Garden Fair (May 16-17; hydeparkgardenfair.org) for advice on smart shopping.
Read Labels. The conditions the plant needs are listed on the label (often as symbols). If you don’t understand the symbols, ask. And never buy a plant without a label.
Annual of Perennial? This is a key distinction. Annuals bloom all season and then die (and require more fertilizing and, often, watering). Perennials live from season to season, but they bloom only for a few weeks each year. Different perennials bloom at different times. “You buy perennials for the long term, not for instant satisfaction like you do annuals,” says Rumsey.
Resist Seduction. Retailers know gardeners are suckers for flowers, so many plants are manipulated to bloom way too early at prime shopping time. That may leave them weak, stressed and sickly in your garden. A perennial that is in bloom way ahead of time-say a daylily or a coneflower flowering in May- won’t bloom again this summer. So read the label and don’t buy perennials that are blooming outside their natural time.
Check Bloom Color. For annuals, it can be important to see the flower color, so find a six-pack or flat with one or two blooms, but the rest just buds. You want the plant to save most of its blooming for your garden.
Leaf Color. Leaves should be a healthy, fresh green-unless the plant has been bred to have chartreuse or purple or white leaves. Check the label.
Shape. Plants should be full, fairly compact, with balanced growth in proportion to the pot. “I don’t want anything that looks overgrown or rangy,” with stalky stems and lots of space between leaves, Rumsey says. That usually means the plant has been stretching to get light. If it hasn’t been given the right light, it may have been neglected in other ways.
Pests and Disease. Don’t buy a plant if there are spots or brown edges on the leaves, or if you see crawling or flying bugs.
Roots. The root system is more important than the top growth. Roots should be white and mostly fill the pot, but not be a solid mass circling the pot wall or showing at the surface of the soil. Ask, though, before you remove a plant from a pot to look at the roots. If a lot of roots are coming out the holes in the pot, “it probably means it’s an old plant that’s been in the pot too long,” Rumsey says.
Small vs. Large. There are trade-offs in pot size. Flats of annuals and vegetables sold for about the same price may contain 36 plants or 48 smaller, younger ones. More plants may not be a better deal; the larger plants will have better-developed roots. Perennials usually are sold in 1-gallon pots. You can save money by buying them in 3-inch pots, but they likely won’t flower until next year. And bear in mind that a larger pot doesn’t always mean a larger or more mature plant.
Don’t shop just by price. A cheap, hastily grown plant, with oversized, chemically boosted foliage and out-of-season flowers but poor roots, is no bargain.
© 2008, Chicago Tribune.
Distributed by McClatchy-Tribune Information Services.
Green in the Thumb, Not the Wallet? Top Tips for Smart Garden Shopping
By Beth Botts
RISMEDIA, May 15, 2008-(MCT)-For beginners, especially, a garden center can be overwhelming and bewildering: the colors and dazzle, the crowds, the high spirits, the pie-in-the-sky fantasies, the peer pressure, the devil-may-care impulse buying that can leave a wallet gasping. But some preparation, a bit of planning and a little knowledge can cut the problem down to size and improve the odds for plants (and wallets).
We asked Elizabeth Hoffman, owner of West End Florist & Garden Center in Evanston, Ill., (800-228-8755 or westendflorist.com) and George Rumsey, perennials co-chair for the Hyde Park (Ill.) Garden Fair (May 16-17; hydeparkgardenfair.org) for advice on smart shopping.
Read Labels. The conditions the plant needs are listed on the label (often as symbols). If you don’t understand the symbols, ask. And never buy a plant without a label.
Annual of Perennial? This is a key distinction. Annuals bloom all season and then die (and require more fertilizing and, often, watering). Perennials live from season to season, but they bloom only for a few weeks each year. Different perennials bloom at different times. “You buy perennials for the long term, not for instant satisfaction like you do annuals,” says Rumsey.
Resist Seduction. Retailers know gardeners are suckers for flowers, so many plants are manipulated to bloom way too early at prime shopping time. That may leave them weak, stressed and sickly in your garden. A perennial that is in bloom way ahead of time-say a daylily or a coneflower flowering in May- won’t bloom again this summer. So read the label and don’t buy perennials that are blooming outside their natural time.
Check Bloom Color. For annuals, it can be important to see the flower color, so find a six-pack or flat with one or two blooms, but the rest just buds. You want the plant to save most of its blooming for your garden.
Leaf Color. Leaves should be a healthy, fresh green-unless the plant has been bred to have chartreuse or purple or white leaves. Check the label.
Shape. Plants should be full, fairly compact, with balanced growth in proportion to the pot. “I don’t want anything that looks overgrown or rangy,” with stalky stems and lots of space between leaves, Rumsey says. That usually means the plant has been stretching to get light. If it hasn’t been given the right light, it may have been neglected in other ways.
Pests and Disease. Don’t buy a plant if there are spots or brown edges on the leaves, or if you see crawling or flying bugs.
Roots. The root system is more important than the top growth. Roots should be white and mostly fill the pot, but not be a solid mass circling the pot wall or showing at the surface of the soil. Ask, though, before you remove a plant from a pot to look at the roots. If a lot of roots are coming out the holes in the pot, “it probably means it’s an old plant that’s been in the pot too long,” Rumsey says.
Small vs. Large. There are trade-offs in pot size. Flats of annuals and vegetables sold for about the same price may contain 36 plants or 48 smaller, younger ones. More plants may not be a better deal; the larger plants will have better-developed roots. Perennials usually are sold in 1-gallon pots. You can save money by buying them in 3-inch pots, but they likely won’t flower until next year. And bear in mind that a larger pot doesn’t always mean a larger or more mature plant.
Don’t shop just by price. A cheap, hastily grown plant, with oversized, chemically boosted foliage and out-of-season flowers but poor roots, is no bargain.
© 2008, Chicago Tribune.
Distributed by McClatchy-Tribune Information Services.
Monday, May 12, 2008
Drop Price and Sell, or Find a Renter?
Today's market can be tough on sellers. Some will be faced with the decision to either drop the price of their home to get it sold or to rent it out until the market goes back up. Read below for some interesting thoughts on makin this decision.
--------------------------------------------------------------------------------
Daily Real Estate News | May 12, 2008
Home owners who are having a tough time selling their homes face a hard decision – should they drop the price in hopes of attracting a bargain hunter, or should they find a renter and hold on until prices go back up?
Benny L. Kass, real estate attorney and columnist for the Washington Post, offers these reasons why selling now is better than waiting it out.
Tax implications. Living in a home has its tax benefits. A home owner who has lived in a house for at least two of the five years before it is sold and files a joint income tax return can exclude up to $500,000 of the gain from taxation. Single people can exclude up to $250,000.
Tenants can make a sale tough. Some tenants don’t keep a home in the same condition as an owner would. Also they may not cooperate with showings, even if the lease says they must.
Being a landlord can be a challenge. Calls in the middle of the night with demands to repair the toilet are tough.
Carrying costs are daunting. Some months the house will be vacant, but the owner still has to pay the mortgage, real estate tax and insurance. Maintenance bills don’t stop either.
No one has a crystal ball. The real estate market may take a long time to recover.
Source: The Washington Post, Benny L. Kass (0510/2008)
--------------------------------------------------------------------------------
Daily Real Estate News | May 12, 2008
Home owners who are having a tough time selling their homes face a hard decision – should they drop the price in hopes of attracting a bargain hunter, or should they find a renter and hold on until prices go back up?
Benny L. Kass, real estate attorney and columnist for the Washington Post, offers these reasons why selling now is better than waiting it out.
Tax implications. Living in a home has its tax benefits. A home owner who has lived in a house for at least two of the five years before it is sold and files a joint income tax return can exclude up to $500,000 of the gain from taxation. Single people can exclude up to $250,000.
Tenants can make a sale tough. Some tenants don’t keep a home in the same condition as an owner would. Also they may not cooperate with showings, even if the lease says they must.
Being a landlord can be a challenge. Calls in the middle of the night with demands to repair the toilet are tough.
Carrying costs are daunting. Some months the house will be vacant, but the owner still has to pay the mortgage, real estate tax and insurance. Maintenance bills don’t stop either.
No one has a crystal ball. The real estate market may take a long time to recover.
Source: The Washington Post, Benny L. Kass (0510/2008)
Friday, May 9, 2008
El Cajon Concerts on the Green Schedule
Are you looking for something fun to do on a warm summer night? Consider the El Cajon Concerts on the Greens series. See below for the schedule. See you there!
Presented by Sycuan Resort & Casino
FREE on Friday Evenings
May 23 - September 5, 2008
6:00 - 8:00 pm
Prescott Promenade
2008 Schedule
May 23
The Stiletto's Rockabilly
May 30
Stars on the Water Tropical Rock
June 6
Eve Selis Roadhouse Rock
June 13
Sue Palmer Boogie Woogie
June 20
Breez’n Variety
June 27
The Cathryn Beeks Ordeal Rock
July 11
The Cat-illacs Rock & Roll
July 18
Theo & the Zydeco Patrol Zydeco
July 25
The Screamin' Primas A Tribute to Louis Prima
August 1
The Hayriders Country
August 8
The Corvettes Doo Wop and Motown
August 15
Bill Magee Blues
August 22
The Coolrays Beach Boys Tribute Band
August 29
The Variations Big Band
September 5
The Mar Dels Dance
* Schedule Subject to change
Presented by Sycuan Resort & Casino
FREE on Friday Evenings
May 23 - September 5, 2008
6:00 - 8:00 pm
Prescott Promenade
2008 Schedule
May 23
The Stiletto's Rockabilly
May 30
Stars on the Water Tropical Rock
June 6
Eve Selis Roadhouse Rock
June 13
Sue Palmer Boogie Woogie
June 20
Breez’n Variety
June 27
The Cathryn Beeks Ordeal Rock
July 11
The Cat-illacs Rock & Roll
July 18
Theo & the Zydeco Patrol Zydeco
July 25
The Screamin' Primas A Tribute to Louis Prima
August 1
The Hayriders Country
August 8
The Corvettes Doo Wop and Motown
August 15
Bill Magee Blues
August 22
The Coolrays Beach Boys Tribute Band
August 29
The Variations Big Band
September 5
The Mar Dels Dance
* Schedule Subject to change
Question: How can I save on closing costs?
Answer:
Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. But there are some ways to save:
* Negotiate with the seller to pay all or part of the closing costs. The lender must agree to this as well as the seller.
* Get a no-point loan. The trade-off is a higher interest rate on the loan and many of these loans have prepayment penalties. But buyers who are short on cash and can qualify for a higher interest rate may find a no-point loan will significantly cut their closing costs.
* Get a no-fee loan. Usually, though, these fees are wrapped into a higher interest rate though it will save you on the amount of cash you need upfront. * Get seller financing. This kind of arrangement usually does not entail traditional loan fees or charges.
* Rent the property in which you are interested with an option to buy. That will give you more time to save for the upfront cash needed for the actual purchase.
* Shop around for the best loan deal. Each direct lender and each mortgage brokerage has their own fee structure. Call around before submitting your final loan application.
Copyright © 2008 Inman News Features
Studies show that the closing costs, which can average 2 to 3 percent of a total home purchase price, are often more costly than many buyers expect. But there are some ways to save:
* Negotiate with the seller to pay all or part of the closing costs. The lender must agree to this as well as the seller.
* Get a no-point loan. The trade-off is a higher interest rate on the loan and many of these loans have prepayment penalties. But buyers who are short on cash and can qualify for a higher interest rate may find a no-point loan will significantly cut their closing costs.
* Get a no-fee loan. Usually, though, these fees are wrapped into a higher interest rate though it will save you on the amount of cash you need upfront. * Get seller financing. This kind of arrangement usually does not entail traditional loan fees or charges.
* Rent the property in which you are interested with an option to buy. That will give you more time to save for the upfront cash needed for the actual purchase.
* Shop around for the best loan deal. Each direct lender and each mortgage brokerage has their own fee structure. Call around before submitting your final loan application.
Copyright © 2008 Inman News Features
Wednesday, May 7, 2008
Mortgage Applications Rebound
There seems to be a buzz growing among home buyers and I am definately feeling it in the office. The article below confirms what I have been feeling. The buyers are back!
Mortgage Applications Rebound
After a couple of down weeks, the spring buying season kicked in and mortgage application volume rose last week 15.6 percent on a seasonally adjusted basis to 655.4 from 567.0 the previous week, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the index increased 15.9 percent compared to the previous week, but was down 4.4 percent from the same week a year ago.
Last week’s increase reflected a rise of 19.3 percent in refinances with the refinance share of mortgage activity rising to 47.1 percent from 45.7 the previous week. Purchase applications rose 12.1 percent.
Interest rates declined slightly:
30-year fixed-rate mortgages decreased to 5.91 percent from 6.01 percent;
15-year fixed-rate mortgages decreased to 5.49 percent from 5.53 percent;
1-year ARMs decreased to 6.77 percent from 6.86 percent.
Mortgage Applications Rebound
After a couple of down weeks, the spring buying season kicked in and mortgage application volume rose last week 15.6 percent on a seasonally adjusted basis to 655.4 from 567.0 the previous week, according to the Mortgage Bankers Association weekly survey.
On an unadjusted basis, the index increased 15.9 percent compared to the previous week, but was down 4.4 percent from the same week a year ago.
Last week’s increase reflected a rise of 19.3 percent in refinances with the refinance share of mortgage activity rising to 47.1 percent from 45.7 the previous week. Purchase applications rose 12.1 percent.
Interest rates declined slightly:
30-year fixed-rate mortgages decreased to 5.91 percent from 6.01 percent;
15-year fixed-rate mortgages decreased to 5.49 percent from 5.53 percent;
1-year ARMs decreased to 6.77 percent from 6.86 percent.
MISSING CHILD
Jose Manuel Murgas
Last Seen: May 2, 2008 Time 8:15 PM
Last Location: el Cajon, CA 92020
Date of birth: December 28, 1994 Height: 5’ 4"
Hair Color: Black Weight: 105 lbs.
Eye Color: Brown Gender: Male
Race: Hispanic
Jose Manuel Murgas
If you have any information on this child, please contact:
Contact: Angelica Phone # : (619) 520-8979
City / State: el Cajon, CA Alternate Phone # : (619) 520-8873
Zip Code: 92020 FAX # :
Email: angelicak@cox.net
Additional Information:
R U N A W A Y _ T E E N! Please help us find him. Needs psychiatric assessment.
Last seen wearing black t-shirt, black Adidas pants with two white stripes on sides, black shoes.
Suffers from exercise-induced asthma.
Call 619-520-8979 or El Cajon Police Department at 619-579-3311
-----------------------------------------------------------------------------
Ayudenos a encontrar a mi hijo. Se fue de la casa el viernes, 2 de mayo.
Necesita una evaluacion sicologica y tiene asma.
Vestia con camiseta, pantalon y zapatos negros.
LLame al 619-520-8979 or departamento de policia al 619-579-3311
Created by a parent using BeyondMissing’s Parent Flyer Tool - 5/03/2008 1:19 PM
www.beyondmissing.com
Last Seen: May 2, 2008 Time 8:15 PM
Last Location: el Cajon, CA 92020
Date of birth: December 28, 1994 Height: 5’ 4"
Hair Color: Black Weight: 105 lbs.
Eye Color: Brown Gender: Male
Race: Hispanic
Jose Manuel Murgas
If you have any information on this child, please contact:
Contact: Angelica Phone # : (619) 520-8979
City / State: el Cajon, CA Alternate Phone # : (619) 520-8873
Zip Code: 92020 FAX # :
Email: angelicak@cox.net
Additional Information:
R U N A W A Y _ T E E N! Please help us find him. Needs psychiatric assessment.
Last seen wearing black t-shirt, black Adidas pants with two white stripes on sides, black shoes.
Suffers from exercise-induced asthma.
Call 619-520-8979 or El Cajon Police Department at 619-579-3311
-----------------------------------------------------------------------------
Ayudenos a encontrar a mi hijo. Se fue de la casa el viernes, 2 de mayo.
Necesita una evaluacion sicologica y tiene asma.
Vestia con camiseta, pantalon y zapatos negros.
LLame al 619-520-8979 or departamento de policia al 619-579-3311
Created by a parent using BeyondMissing’s Parent Flyer Tool - 5/03/2008 1:19 PM
www.beyondmissing.com
Monday, May 5, 2008
10 Red Flags for Home Buyers
RISMEDIA, May 5, 2008-The average home buyer views at least 10 homes over an eight week search so it isn’t practical to get a professional inspection of every house they tour. FrontDoor.com, a new real estate website powered by HGTV, comes to the rescue pointing out things to look for in your own pre-inspection that will help identify potential problems before calling in the pros.
FrontDoor.com’s Top 10 Red Flags for Home Buyers
1) Mass Exodus from the Neighborhood
Don’t let a home’s curb appeal keep you from glancing down the street. Are there several other homes for sale? Are nearby businesses boarded up or vandalized? Get the scoop from the neighbors. If everyone else wants to leave the street, maybe you should, too - before you’re stuck with a bad investment.
2) Mediocre Maintenance
Three layers of roofing and gutters with plants growing in them are signs the owners aren’t big on maintaining their home. What else did they neglect?
3) Foundation Failures
Check out the yard grading. If the yard slopes towards the house, it could cause water to run down the foundation walls or into the basement, which will be costly to repair. Scour the foundation for damage. Bulges or cracks bigger than 1/3 inch can mean the house has serious structural issues.
4) Bad Smells - Inside or Outside
Take a big whiff of the air inside and outside the house. Do you smell anything funky? If you can’t smell anything but the huge baskets of potpourri all over the house, this could be a red flag.
5) Faulty or Old Wiring
While you’re probably not an electrician, make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don’t work and warm or hot outlets or faceplates are all symptoms of wiring problems.
6) Fresh Paint… on One Wall
New paint can really spruce up drab walls, but it can also hide bigger problems, like water damage, mildew or mold. If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks.
7) Locked Doors and Blockades
Ask about any rooms that are “off limits” during your home tour, and arrange to see them later if you’re interested in the house.
8) Foggy or Non-Functioning Windows
Check for water in between double-paned windows and make sure all the windows are functional.
9) Structural Walls or Floors have been Removed
Sure you love the open floor plan, but was the house always open or did the homeowners renovate? If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house. Hire a structural engineer if you think any renovations are questionable.
10) Bugs!
No one wants a house with a pest problem - be it roaches, mice or worst of all, termites. Be on the lookout for unwelcome creatures as you tour the house. Even if no foes pop out while you’re there, consider a separate termite inspection if you’re thinking of purchasing the property.
The Bottom Line
Always get a professional inspection for the house you choose to buy. Skipping a home inspection is not a good way to cut costs. You’ll end up paying more in the long run when problems arise.
For more information, visit http://www.frontdoor.com.
FrontDoor.com’s Top 10 Red Flags for Home Buyers
1) Mass Exodus from the Neighborhood
Don’t let a home’s curb appeal keep you from glancing down the street. Are there several other homes for sale? Are nearby businesses boarded up or vandalized? Get the scoop from the neighbors. If everyone else wants to leave the street, maybe you should, too - before you’re stuck with a bad investment.
2) Mediocre Maintenance
Three layers of roofing and gutters with plants growing in them are signs the owners aren’t big on maintaining their home. What else did they neglect?
3) Foundation Failures
Check out the yard grading. If the yard slopes towards the house, it could cause water to run down the foundation walls or into the basement, which will be costly to repair. Scour the foundation for damage. Bulges or cracks bigger than 1/3 inch can mean the house has serious structural issues.
4) Bad Smells - Inside or Outside
Take a big whiff of the air inside and outside the house. Do you smell anything funky? If you can’t smell anything but the huge baskets of potpourri all over the house, this could be a red flag.
5) Faulty or Old Wiring
While you’re probably not an electrician, make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don’t work and warm or hot outlets or faceplates are all symptoms of wiring problems.
6) Fresh Paint… on One Wall
New paint can really spruce up drab walls, but it can also hide bigger problems, like water damage, mildew or mold. If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks.
7) Locked Doors and Blockades
Ask about any rooms that are “off limits” during your home tour, and arrange to see them later if you’re interested in the house.
8) Foggy or Non-Functioning Windows
Check for water in between double-paned windows and make sure all the windows are functional.
9) Structural Walls or Floors have been Removed
Sure you love the open floor plan, but was the house always open or did the homeowners renovate? If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house. Hire a structural engineer if you think any renovations are questionable.
10) Bugs!
No one wants a house with a pest problem - be it roaches, mice or worst of all, termites. Be on the lookout for unwelcome creatures as you tour the house. Even if no foes pop out while you’re there, consider a separate termite inspection if you’re thinking of purchasing the property.
The Bottom Line
Always get a professional inspection for the house you choose to buy. Skipping a home inspection is not a good way to cut costs. You’ll end up paying more in the long run when problems arise.
For more information, visit http://www.frontdoor.com.
Thursday, May 1, 2008
The First $2-billion Home is Coming
So, you want to buyt a home. Have you considered building? Do you have an extra 2 Billion dollars? That is Billion with a "B". The first 2 Billion dollar home is almost complete. Read below for the details.
The First $2-billion Home is Coming
The world’s largest and most expensive home will be completed in January.
The 27-story skyscraper in downtown Mumbai, India, will be the residence of Mukesh Ambani and his wife Nita. Ambani, head of Mumbai-based petrochemical company Reliance Industries, is the fifth richest man in the world.
The couple who have three children, are custom designing their $2 billion property with help from architecture firms Perkins + Will and Hirsch Bedner Assoc., based in Dallas and Los Angeles respectively.
The home will have 400,000 square feet of interior space, nine elevators, a ballroom and a section for security guards and assistants to relax.
There will also be an ice room where residents and guests can escape the Mumbai heat and be dusted by man-made snow flurries.
The First $2-billion Home is Coming
The world’s largest and most expensive home will be completed in January.
The 27-story skyscraper in downtown Mumbai, India, will be the residence of Mukesh Ambani and his wife Nita. Ambani, head of Mumbai-based petrochemical company Reliance Industries, is the fifth richest man in the world.
The couple who have three children, are custom designing their $2 billion property with help from architecture firms Perkins + Will and Hirsch Bedner Assoc., based in Dallas and Los Angeles respectively.
The home will have 400,000 square feet of interior space, nine elevators, a ballroom and a section for security guards and assistants to relax.
There will also be an ice room where residents and guests can escape the Mumbai heat and be dusted by man-made snow flurries.
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