Friday, August 30, 2013

Interesting Stuff I'm Supposed To Be Aware Of For Future Buyers

Homes that are pet-friendly. More so than now? This particular article suggests that, and we know this from Facebook posts, peoples pets are really part of the family. Well, weren't they always?

Prepping homes to be self-sufficient. Okay, I get that. More conservation in the home. Places that have enough space for a few fruit trees and vegetable garden. It still depends on where you're buying and what type of buyer you're working with. Trust me, my husband could care less about a vegetable garden! But, I do love my peach and nectarine trees!

This one I totally agree agents, be aware! Electric cars. At some time we will have more and more of them. So? Well, homeowners are going to need someplace to plug them in, yes? Yes! And, they are going to be aware of energy consumption in the home they are looking to purchase. It's going to be important. If you can name a Solar Company that will get me some panels, that if the next buyer foolishly doesn't want them, they will take them away? I'm all over that!

This one I'm not quite sure it will target the masses. Collaborative Consumption. Making sure there is some way they can actually earn a bit of moolah off their homes. Whether it is by renting a room out or by establishing a home business of some sort. The home biz? Yes, get that. The renting of the room? Don't think most peeps are thinking about that when buying a home. 2 in the last 3 years of mine did. Just 2.

At any rate, I found it interesting. And, wanted to share with you and get your thoughts. 
Would love to get some comments on these future buyer desires!

Tuesday, August 27, 2013

Trumped the Trump!

I just thought this was too funny!

Donald Trump started a Real Estate 'University' ~ I did not know!

What I now know is that the NY Attorney General filed a suit against Trump as the school did not provide what students were promised.

Students were told they would learn The Trumps personal methods which, of course, would practically guarantee they would have fantastic success in Real Estate investments.

Trump is denying that he did not deliver as the men and women were told he would. Apparently the students were told to increase their credit card limits to participate in the 'Elite Mentorship Program' the tune of between 10 & 35k.....well, they didn't know that's why the suggestion was made until after their limits were increased.

On top of's not really a University now is it? Trump was supposedly hand picking and training the instructors. So he said. The AG determined that he was not involved in the curriculum nor did Trump actually pick the instructors.

Regardless, that old adage...Too Good To Be True? I'd say it fits this one!

Friday, August 23, 2013

And, We've Made It Over 500 !

Acton, Agua Dulce, Castaic, Newhall, Saugus, Santa Clarita, 
Valencia, Val Verde, Stevenson Ranch.

Since most people looking in 'Santa Clarita' seem to consider all these neighborhoods SCV, this is what I include in my searches.

ACTIVE Listings ~ 520.....been a very long time since we hit that number!

Pending/Back-Up ~ 690......that number is shrinking as we get through any Short-Sale back-log.

SOLD in the last 30 days ~ 362

Nope, I didn't break it down for what type of listing/sale the property is. We all know that we have tipped significantly over to Standard Sales.

So, now the question is, how much harder do sellers have to work to get their home sold? Yes, I said sellers. We as agents can only tell you what we suggest you do to present your home in the best possible light. It's up to you, the seller, to listen to our expert advice.

After all, we sell a helluva a lot more houses than you now don't we?

Tuesday, August 20, 2013

Some Buyers Are Going To Be Let Back Into The Market Pretty Fast

Seems like if you did a short-sale, foreclosure,'d be an unlikely candidate for repurchasing a home in a year, right? So you'd think.

FHA has now shortened the waiting period for those very same buyers. Yes, of course, there is one caveat. You must prove that you had a loss of employment or a loss of income that was 'beyond your control'. And, it has to be an income loss of at least 20% and lasted for at least 6 months.

Of course you have to prove that you have completely recovered from the loss that caused the hardship. Meaning, since you can repurchase in as little as 12 months, you have to show that you've had a good payment history on things like mortgage (swear it says that), rent, or credit accounts.

Funny, since most borrowers have to show solid employment for 24 months, right?

Well, it is what it is. And, buying with FHA comes with permanent PMI these days, unless you can refi out of it into a conventional loan in the future.

This new goody actually went into effect 8/15/13 and continues through 9/30/16.

Is this a goody, or is it a baddy?

Friday, August 16, 2013

One Lucky Family

Every once in a while I am amazed by a super smooth escrow. Usually there are glitches along the way, kinks to be worked out, but this one closing today is my smoothest of the year!

Great young family about to make Santa Clarita their home. And, I couldn't be happier for them!

They were referred to me by someone I've known for about 20 years. He knows my OCD tendencies and surely felt I'd care for them very well. And, over-explain everything to them too!

We had talked on the phone a few months back, a couple of things to work out on their FICO scoring. So motivated they were, it was cleared up very quickly.

Mr. Buyer had a poor experience years ago with an investment property. That was a big glitch, and surely must have created a bit of apprehension going into this purchase.

Only once in my eleven year career has someone found their home on the first day. That one, we found it, but looked at 75 more homes before we came back to it! No, not all in one day silly!

This family? First day out. Found it, loved it, slept on it, wrote an offer. Luck One.

We were a little leery as most homes were going out with multiple offers. So we wrote just a bit over list price. Several other agents were threatening (we jokingly call it that) to write an offer, none did! Luck Two. Their offer was accepted.

Inspections, disclosures, loan process. A.O.K. Some items came up on inspection, buyers were willing to accept a credit in lieu if repairs. We asked for two moons! Received the one we wanted. Luck Three.

Mrs. Buyer had to investigate schools, neighborhood, crime history. All came up smelling like roses. Luck Four!

I kept asking them, before we removed contingencies of course, 'Are you sure you want to live here?' Poor guy, I must have asked him 1/2 dozen times in a few weeks.

I could probably keep going with the luck of these kids (they're younger than me, so dang it, they're kids in my book), but just today we asked if seller was leaving something at the property. Luck Five.....yep, they sure are!

I've got to call escrow in a little bit to see if we've officially recorded into their name yet, but this really is One Lucky Family and I'm very happy that they trusted me to help them through this process.

Today is going to be a very lucky, and wonderful, day for them!
I feel so fortunate to have had the luck to work with them!

Tuesday, August 13, 2013

America Loves the 30 Year Fixed Mortgage....Or Do We?

We've had it around forever. We left it a few years ago....and look what happened. We better start showing it some love again as it's likely to be the best bet for our lifetime. has a blog section. Helps me to go to one place and find lots of interesting information to share with my own blog readers. That, plus about 8 other Realtor/Real Estate/Mortgage sites keeps me pretty informed.

Today was reading about the 30 year fixed mortgage. When money was cheap, we took another lover on....the Adjustable Rate Mortgage (ARM), as we could get money even cheaper.

Again, look where that got us...all that cheap money. Just like a cheap whore....a lifetime of trouble, if not dealt with carefully.

Now, interest rates have been extremely low for several years. They will go up, we all know this. Those with ARM's will possibly wish they had a lovely pure 30 year fixed. Those with a 30 year fixed that originated in the last couple of years are likely quite happy.

The 30 year fixed is a great's fixed, you always know what you're getting when falling in love with her.

Friday, August 9, 2013

How Severe Should The Penalty Be?

Happy Friday August 9th! It's a beautiful day outside, Real Estate is recovering. Clean up is still going on for any scoundrels that took advantage of more people that put their trust where is shouldn't have gone.

Four men from my home state of California were sentenced to jail for mortgage modification scams. These creeps defrauded normal 'Joe's' out of about 130k by asking home owners to put their trust in them.

Unfortunately many innocent home owners did do just that. These men set up several false businesses and changed their names, phone numbers, and addresses to escape the calls of their customers and to continue their scams!

Cunningham, Silva, Koelle, Nolan....they all pleased guilty to felony counts! All of them. But, really, they only face 6 - 8 months in jail, 5 years probation, and giving back the fees to home owners.

Hmmmm, I think it should be more harsh. I think they should be in jail for longer and NEVER be off probation. But, maybe I'm a little harsh?

I know there are far worse crimes out there....but really, just doesn't seem like punishment enough.

Tuesday, August 6, 2013

Another Bank Has To Pay Up To Fannie & Freddie!

UBS Americas Inc. has agreed to 885 million settlement over bad mortgage bonds sold to Fannie and Freddie during the subprime boom a few years back.

They are the 3rd, after General Electric and Citigroup Inc, to settle with FHFA over bad bonds sold to Fannie and Freddie.

Again, GOOD, I say! Fannie and Freddie was bailed out by our government back in 2008. We, the taxpayers, are ultimately taking any loss. So, if they get screwed, we get screwed.

470 million is going to Freddie and 415 million going to Fannie. Just a drop in the bucket. But the more drops in that bucket, the fuller it will be!

Friday, August 2, 2013

Should Sellers Worry About Rising Interest Rates and Increasing Inventory?

I'd say Heck Yes! Well, our inventory is still ridiculously low for what we consider 'normal, healthy' inventory numbers but with the rampant gouging of home buyers the first 6 months of 2013, I'd say give the sellers a little bit to worry about so the astronomical increase in pricing drops down to a more 'normal, healthy' appreciation.

If you're a home owner considering selling, yes, you should worry a little bit. Not tremendously, but don't put your head in the sand and say 'What, Me Worry?' Be educated, cautious, and careful.

The market is making yet another correction. Be aware of it. Make sure you are looking at the latest comparable sales when pricing your home for sale. Pay extra special attention to your current competition. That competitions number of days on market and price reductions in your neighborhood.

Something that should always be brought to a sellers attention, well until the first 1/2 of this year where a seller could toss it on the market and get multiple offers and all cash investor offers too!

Investors are finally disappearing from the market. Good for buyers, not as plentiful of offers for sellers.

Don't lose sleep over it, but don't be stupid with your list price.