Winterbauer's Wisdom & Wit Blog

Playing Nice with Neighbors

2011-07-28T01:02:00.000-07:00

It happens to the best of us. When it comes to decisions about our home, we can get quite territorial. How can you handle neighborly disputes and still play nice?

The first rule of neighbors is to treat others the way you would want to be treated. There is a common misconception among the prideful that respect is earned and that only when others treat you with respect will you return the favor. This sentiment is entirely backwards. You need to treat everyone with respect from the start. Respect breeds respect.

It's also easy to keep our blinders on to other people's needs and perspectives. Perhaps you have the money to fix a fence and assume your neighbor has the same. It is quite likely that your preferences, tastes, and finances are different from your neighbor's.

Be willing to see things from their perspective. Take a moment during any conflict to see the situation through their eyes. Maybe those trees partially obstruct your view, but provide your neighbors with shade during the heat of the day.

Next, unless there's unlawful behavior taking place that needs to be reported to the authorities, be sure to talk to your neighbors first about an issue before lodging a formal complaint. They may be unaware that their noise or mess is offending anyone. Many people assume that things are fine unless someone says something.

When you bring up issues to neighbors, leave your attitude and condescension at home. This gets you nowhere, except deeper into conflict. Be kind, direct, and leave the blame game at home. Simply let them know what the issue is and, if needed, what you see as a possible solution.

During this conversation it's important to listen. What is your neighbor saying literally and through body language?

Keep in mind that neighbors often live next door for decades. You don't want to let a minor issue become a dark cloud that hangs over your home. There is a time to fight and there's a time to let things go. While some people see letting things go as a sign of weakness, it can actually be a sign of wisdom.

Compromise isn't always an easy word to swallow. It can mean giving up some of your wants. Yet, this is what living in a community with others means. It is not "Youtown," but rather a wonderful collective of individuals. You may get a new fence, but one that is priced more cheaply. You may still get to have your band practice on the weekends, but need to practice at an earlier time or a lower volume.

With all that said, sometimes you'll encounter neighbors who are too enveloped in their own lives to see the needs and wants of others. If you have a neighbor that suffers from this self-absorbed affliction, then it is time to either accept the situation as it is, or to take the next steps to remedy it. You may need to contact the HOA, authorities, or a lawyer. Do this only as a last resort.

Most of the time, however, you can find a middle ground if you start with respect.

Published: July 28, 2011 by Carla Hill

CALIFORNIA ASSOCIATION OF REALTORS® applauds Gov. Brown on signing SB 458 into law

2011-07-19T11:43:00.000-07:00

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds Gov. Jerry Brown on signing SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans.

Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.

“The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. President Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lienholders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.”

SB 458 contains an urgency clause making it effective upon signing.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with nearly 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

The Top ‘Lifestyle Factors’ When Home Shopping

2011-07-13T10:49:00.000-07:00

If you want to make a sale, selling the lifestyle in a community or neighborhood is becoming an important piece of the presentation of a home, according to a new survey. One in five home owners have moved or would like to move because they don’t think their neighborhood or community is a good fit to their lifestyle, according to a recent survey of more than 1,000 home owners and future home buyers

The majority of those surveyed said they would place more weight on lifestyle factors–such as family-friendly neighborhoods or easy access to cultural activities like museums and music venues–when shopping for a future home. The survey was conducted by Better Homes and Gardens Real Estate LLC and and Meredith Corp.

“While the relation of price to features has become very favorable in many areas throughout the country, ultimately the surrounding community may determine how happy you are with your home purchase,” says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC, which used the survey results to launch a “Lifestyle Search” tool on its web site to help buyers factor in community preferences–such as “arts and recreation” and “family and community”–more in their search.

Here are some of the top lifestyle priorities survey respondents reported they’ll be looking for in their next home:

Ease of commuting by car: 38%

Access to health and safety services: 34%
Family friendly neighborhood: 33%
Availability of retail stores: 32%
Access to cultural activities: 21%
Public transportation access: 19%
Nightlife and restaurant access: 18%
Golf friendly area-access to golf courses: 6%

This article was provided by Melissa Dittmann Tracey, REALTOR® Magazine

Your Small Home: 5 Big Reasons to Love It

2011-07-12T19:20:00.000-07:00

There's plenty to love about small homes--they're easier to maintain, and the price tag is generally lower. Image: Ross Chapin Architects/www.rosschapin.com

A small home packs plenty of perks, and generally means a lower asking price. But entry price is only one factor—they’re easier on the pocketbook in a host of ways.

1. Lower property taxes. Your small home will be charged at a lower tax rate than its larger neighbors because the assessed value generally is lower.

2. Lower property insurance. The smaller the house, generally the lower the insurance cost, although it also matters where you live and how your small house is constructed. A brick house in wildfire-prone southern California is likely to cost less to insure than a similar-size house with wood siding.

3. You’ll save on heating and cooling. That’s regardless of how energy efficient the house is. In fact, one study indicates that a poorly insulated, 1,500 sq. ft. house is at least $200 cheaper per year to heat and cool than a well-insulated house twice that size. The U.S. Energy Information Administration says homes of 2,000 sq. ft. to 2,500 sq. ft. use an average 102.3 million BTUs of fuel yearly—13% less than homes that are 1,000 square feet larger.

4. Save on major replacements. When you need to replace a major house component or system, you’ll be glad you’re living in a smaller home. For example: According to the Cost vs. Value Report from Remodeling Magazine, the national average for vinyl replacement siding is about $9 per sq. ft.

For a modest-size house (1,500 sq. ft. of living space) with 1,740 sq. ft. of exterior wall space, that’s $15,660. For a 2,500-sq.-ft. house, you’ll pay up to $10,000 more!

5. Easier maintenance. You’ll spend less time cutting those smaller lawns, cleaning gutters, washing windows, and the umpteen other chores that home ownership involves. Figure 16 windows and sliding glass doors on a home of 2,000 square feet or less would take about 10 hours to clean, inside and out, twice a year. Double the house size, and that’s roughly 20 hours spent with a squeegee and rag.

Living in a small home has the benefits of lower insurance rates, less hassle, and less overall cost to own.

Article compliments of Terry Sheridan

6 Best Places for Business, Careers

2011-07-12T12:25:00.000-07:00

To find cities with the most jobs and lower costs of doing business, you’ll have to venture to the heartland, according to Forbes’ 13th annual Best Places of Business list. Eighty percent of the top 25 regions on Forbes’ list this year are from the center of the United States.

Forbes’ rankings evaluate 200 metro areas, factoring in job growth (past and projected), costs (business and living), income growth, projected economic growth, and educational attainment.

Demographer Bert Sperling says the heartland’s success is largely due to its “extractive industries,” such as oil, gas, and mining and record-high crop prices that have added jobs.

“These economies run in cycles, and these booms and busts are often decades in the making,” Sterling says.

Many of the cities topping the list also boast at least one strong university and strong entrepreneurial activity.

Here are the top six cities to make Forbes’ list:
Raleigh, N.C.
Des Moines, Iowa
Provo, Utah
Lexington, Ky.
Fort Collins, Colo.
Nashville, Tenn.

Source: “Raleigh Tops Forbes’ Best Places for Business 2011,” Forbes.com (July 11, 2011)

Some HOAs Foreclosing on Residents

2011-07-11T11:56:00.000-07:00

While banks are usually the ones who go after delinquent home owners, more homeowners’ associations (HOAs) around the country are deciding to take on that power too in fighting against home owners who have stopped paying their HOA fees.

For communities governed by a homeowners’ association, which one in five communities are, more HOAs are discovering they have a power they have ever rarely acted upon until now — the right to foreclose on residents who stop paying fees.

For example, a condo complex in Fort Pierce, Fla., for 55-and-older residents was once a desirable area with condos once fetching nearly $80,000 four years ago but now sell for as little as $3,000. The HOA levied $6,000 assessments on its residents for much-needed repairs in the complex and when some residents didn’t pay, the HOA foreclosed on them, even if they didn’t owe the bank anything.

"The treacherous part is that homeowners' associations are acting like a local government without restraints, and they have this extraordinary power," Marjorie Murray, a lawyer and founder of the Center for California Homeowner Association Law, told the Associated Press.

If HOAs need to do major repairs, the board can levy a “special assessment” on top of its regular dues. When a home owner fails to pay, all of the home owners then have to step up to pick the costs.

“What many people didn't realize when they bought their homes was that the fine print gave the association the right to foreclose — even over a few hundred dollars in unpaid dues,” according to an article by the Associated Press. “All the association board has to do is alert its attorney to place a lien on the property to start the process. The home can then be auctioned by the board until the bank eventually takes ownership. Home owners typically have no right to a hearing.”

About 65 percent of HOAs have reported delinquency rates higher than 5 percent, according to a September survey by the Community Association Institute.

Source: “As More Are Unable to Pay Homeowners’ Fees, Associations Pit Neighbor Against Neighbor,” Associated Press (July 7, 2011)

10 Best-Performing Major Housing Markets

2011-07-11T10:09:00.000-07:00

Ten of the highest performing major market metros are expected to improve their performance over the first half of the year, with five of the top 10 even expected to see modest gains, reports Clear Capital in its latest monthly Home Data Index.

While housing prices in the first half of the year were mostly negative among the metro areas, Clear Capital says the market is showing signs of stabilizing.

Top Performers
The following are the highest performing major markets based on first half 2011 data (January through June) and second half forecast, according to Clear Capital.

1. Washington, D.C.-Arlington, Va.
2. New York-Long Island, N.Y.-No. New Jersey, N.J.
3. Orlando
4. Dallas-Fort Worth-Arlington, Texas
5. San Francisco-Oakland-Fremont, Calif.
6. Boston-Cambridge-Quincy, Mass.
7. Honolulu
8. San Diego-Carlsbad-San Marcos, Calif.
9. Rochester, N.Y.
10. Memphis, Tenn.

Yet, only five of these markets are expected to boast home price gains in the second half of 2011: Washington, D.C., New York, Orlando, Dallas, and San Francisco, according to Clear Capital.

Worst-Performing Markets
Meanwhile, the lowest performing markets were Virginia Beach-Norfolk-Newport News, Va.; Cleveland-Elyria-Mentor, Ohio; and Minneapolis-St. Paul-Bloomington, Minn., according to Clear Capital.

“While most individual markets are also projected to post losses for the year, it is clear prices have begun to level off and are not exhibiting as much volatility as we’ve seen since the downturn began,” says Alex Villacorta, director of research and analytics at Clear Capital.

Source: “Clear Capital Home Data Index Forecast Reveals Further Price Declines for Second Half of 2011,” Clear Capital (July 8, 2011)

101 Fun Things for Teens to Do This Summer

2011-06-26T18:06:00.000-07:00

Summer Fun For Teens

Here is a list of fun things for your teen to do this summer. Print it out and give it to your teen the first time they tell you they are bored. Or be proactive and give it to them before they complain about nothing to do. Many of these things can be done either with friends or alone.

1.Invent a new type of pizza3.
2.Make a music video.
3.Grow a tomato or sunflower plant.
4.Walk barefoot through the grass.
5.Build a sandcastle.
6.Have a wet t-shirt relay race4.
7.Picnic at a local park.
8.Make the best ice cream sandwich5 ever.
9.Have an overnight movie marathon.
10.Play frisbee golf.
11.Have a car wash to fundraise for a club or charity.
12.Grab a blanket, spread it out in the grass and cloud watch.
13.Make a card for a friend6.
14.Bike five miles.
15.Catch lightning bugs.
16.Eat the Best Banana Split7 ever.
17.Take a nap under a shade tree.
18.Go swimming.
19.Have a pool party8.
20.Play with water balloons9.
21.Make a summer tote bag10 out of a recycled tank top.
22.Soak in the bathtub with homemade summer bath salts11.
23.Sketch a flower that is growing in your yard.
24.Bury a friend in the sand.
25.Babysit and make paper airplanes.
26.Volunteer12 in a community effort.
27.Go fishing.
28.Sleep in your backyard, under the stars.
29.Create a photo journal.
30.Hike a rail trail.
31.Visit the local library and sign up for the summer reading list. You could win something.
32.Swap a favorite book with a friend and read it.
33.Make a friendship bracelet13 and send it to your friend.
34.Write a poem
35.Write a song.
36.Write a play.
37.Start your novel.
38.Make a website.
39.Give your MySpace/Facebook page a summery look.
40.Friend someone famous on your MySpace/Facebook page.
41.Have an outdoor basketball free-throw contest.
42.Have a watermelon seed spitting contest.
43.Sketch your pet.
44.Make smoothies14.
45.Have a high tea, only use iced-teas.
46.Help plan the family vacation15.
47.Make a root beer float.
48.Write in your journal, "My Top Ten Favorite Summertime Activities".
49.Make toe ring.
50.Paint your toe nails.
51.Make a barefoot sandal.
52.Make Hawaiian Pizza16 for your family dinner.
53.Paint your fingernails with bright sparkly polish.
54.Watch the sunrise.
55.Watch the sunset.
56.Get your community’s events list for the summer and attend an event.
57.Have a summer clothes fashion show.
58.Create a summer safety poster for the local library.
59.Volunteer to read to children at the library.
60.Learn to grill a hot dog17.
61.Learn to grill a hamburger18.
62.Learn to grill pizza crust19.
63.Eat some fruit with fruit dip20.
64.Make a collage out of old magazines.
65.Swing.
66.Skip stones at a lake.
67.Surf/boogey board at the beach.
68.Get a new hairdo.
69.Change something about how you wear your make-up.
70.Decide to pick up one good habit21, then pick which one you’ll do.
71.Make your own popsicles.
72.Watch last year’s hot summer flick.
73.Go to this year’s hot summer flick.
74.Make a list of your favorite summertime movies in your journal.
75.Make a summer sun shaped collage out of summer fashion magazines.
76.Make a leaf t-shirt22.
77.Make a earring holder out of a branch23.
78.Make peach lemonade24.
79.Make a CD of your favorite summertime songs.
80.Enjoy a board game marathon on your backyard picnic table or on your back porch.
81.Have a scavenger hunt.
82.Make some summer jewelry25.
83.Change something in or add something to your room.(You could clean it too.)
84.Give your dog/pet a bath outside.
85.Take your dog/pet for a walk.
86.Run through a sprinkler.
87.Make a whirlpool in a kids pool or play Ice Cubes and Piggies Game26.
88.Visit a flower garden and/or butterfly house.
89.Grow some lavender so you can make your own potpourri.
90.Turn up the music and dance.
91.Go stargazing.
92.Sleep until noon – once.
93.Tie-dye your bed sheets.
94.See some fireworks.
95.See a local baseball game.
96.Play mini-golf.
97.Learn how to hula-hoop.
98.Create a sidewalk mural with chalk, use a tropical theme.
99.Organize your summer sandals and flip-flops.
100.Visit a college27.
101.Plan and enjoy a luau.

By Denise Witmer, About.com Guide

6 Reasons to Reduce a Home's Price

2011-04-26T10:27:00.001-07:00

The longer an overpriced home sits on the market, the more likely buyers will begin thinking something’s wrong with it. Help your clients avoid a long wait for the right offer by branding, printing, and hand-delivering a free article detailing 6 reasons to reduce your home’s price from the REALTOR® Content Resource.

That’s just one of five free articles to help sellers get their home sold that you can hand deliver (or post to your blog, Web site, e-newsletter, Facebook, or Twitter). You can also search the REALTOR® Content Resource by keyword or topic for other topics ranging from home improvement and maintenance to taxes and finance.

While you’re at the REALTOR® Content Resource, remember that there are only a few days left to log in to enter the REALTOR® Build-Your-Business Sweepstakes, featuring drawings for the final free iPad and the last $150 Visa gift card. All winners will be selected by April 29.

The REALTOR® Content Resource is brought to you by the National Association of REALTORS®. With it, you can download free home ownership content from HouseLogic to your marketing materials.

Is This Really a Buyer's Market?

2011-04-26T10:11:00.001-07:00

With falling home prices and higher inventories, most of the public views real estate as a “buyer’s market,” in which buyers hold more of the control and sellers will more eagerly accept lower offers just to sell.

Not so fast, say buyers and sellers. More buyers are finding the sellers in the driver’s seat.

Buyer Young Hammack gave up looking for homes for a while after being outbid on three properties in California. "It's a false buyer's market," Hammack says. "If you think prices are cheap, wait until you start putting offers in."

Many sellers may be unable or unwilling to lower their home prices — mostly because they may be underwater on their mortgage — so buyers are increasingly finding lower offers than list price denied. Buyers, on the other hand, may be reluctant to agree to a deal if they don’t feel like they are getting it at a deep discount, industry insiders say.

Traditional buyers also are finding even buying a foreclosure can be difficult as they’re increasingly outbid by investors who are willing to pay cash.

"There's a shortage of attractive inventory," says Glenn Kelman, chief executive of Redfin Corp. "Customers just keep getting outbid on the houses that they want."

Real estate professional Steve Capen with Keller Williams Realty in St. Petersburg, Fla., says that the homes most in demand among buyers often don’t require much repair work and are located in good school districts and choice neighborhoods near transit hubs.

"What's selling is the cream of the crop, and they sell fast," Capen says. "If it's not cream of the crop, it's getting hammered."

Source: “Buyers' Market? Stressed Sellers Say Not So Fast,” The Wall Street Journal online (April 25, 2011)

4 Ways to Save on Your Cell Phone Bill

2011-04-08T18:39:00.000-07:00

A potential $39 billion merger between two of the nation’s largest wireless carriers--AT&T and T-Mobile--could lead to higher cell phone bills, according to some experts.

Here are some cost-cutting measures to consider making now:

1. Use a family plan. You may want to find some “family” to add to your smartphone plan to start trimming your bill. AT&T, Sprint, Verizon Wireless, as well as other carriers offer family plans that aren’t just limited to those in your family. You can essentially add anyone to your “family” and still take advantage of the savings. Here’s the potential savings by bulking your plan: AT&T smartphone individual plans (which include voice, unlimited messaging and data) start at about $75 per month. A family plan that covers three users for similar features costs $145 a month--about $48 per person. A family of five? The monthly cost is $40 per person.

2. Trade in old phones. Don’t just dump your old cell phone in a drawer. Web sites such as GreenPhone.com and CellTradeUSA will let you trade your old phone for a new one. While you may have to pay a small upgrade cost, you’ll still save in having to buy new.

3. See if you qualify for a discount. Check to see if you qualify for a discounted cell phone plan if you’re a member of a national group such as AAA and AARP. Also, some wireless carriers even offer business discounts that you can apply toward your personal plan.

4. Free texting and video calls. You can curb your texting fees by using smartphone apps. For iPhone users, try Textfree With Voice; Android users might try chompSMS. (Note: These services only work with other smartphone owners who have the app.) You can also save by using video calls: iPhone users can save on calling minutes by using FaceTime video calling, and Android and iPhone users can video chat for free and also save on calling minutes by using Skype.

Source: “Here Are Smart Ways to Cut Cellphone Bill,” Orlando Sentinel (April 3, 2011)

Watch Your E-mail: 3 Spam Survival Tips

2011-04-06T09:44:00.001-07:00

A massive security breach from Epsilon has potentially exposed the e-mail addresses of millions of customers at major banks, hotels, and stores to hackers. Security experts are warning the public that you may be at greater risk of getting spam in your e-mail inbox that will try to trick you into revealing your personal information.

Consumer Reports recently offered some spam survival tips in dealing with the Epsilon fallout:

1. Never click on an embedded link in an e-mail. Very targeted phishing attacks are expected from this latest security breach, experts warn. Security experts have warned that spammers have been creating official-looking e-mails from such banks as Citibank that try to direct customers to click on an e-mail link and update their online account. By doing so, you may be providing hackers with your personal account information. If a company is trying to contact you about important changes to your account, instead go directly to the company’s web site from your browser or contact the customer service phone number.

2. Protect your personal information. Remember: Legitimate companies will never ask customers for your personal data--such as Social Security numbers or credit card information--via e-mail.  

3. Update your anti-virus software. Spam also has a good chance of carrying viruses, malware, or even giving spammers the ability to capture everything you type, such as your account information. Make sure you have anti-virus software that is up to date to protect you from the latest viruses.

Source: “6 Tips for Surviving the Epsilon E-mail Fiasco,” Consumer Reports Online (April 5, 2011)

7 Great Places to Retire

2011-03-30T11:00:00.000-07:00

Sunbelt cities--traditional hotspots for retirees--don’t always offer good cost-of-living or the best place to settle down during retirement, according to Forbes’ annual list of best places to retire. While Forbes’ list takes into account numerous factors in choosing its “best retirement places,” this year it focused more on tax burden and cost-of-living.

Among the more affordable retiree cities that made the “best retirement places” list for 2011 are (listed in no particular order):

- Indianapolis: Very affordable housing.
- Fargo, N.D.: Lowest crime rate on the list and inexpensive living costs.
- Charlotte, N.C.: Affordable housing as well as cost of living.
- Charleston, S.C.: Lowest taxes of all the cities Forbes evaluated.
- Colorado Springs, Colo.: Affordable housing and low cost of living.
- Jacksonville, Fla.: No state income or estate tax.
- Pittsburgh: Tax breaks for retirees.

See Forbes’ complete list of 16 best retirement places.

Source: “The Best Retirement Places,” Forbes (March 23, 2011)

Five Tax Deductions You May Be Missing

2011-03-23T09:56:00.000-07:00

Don’t miss out on important tax deductions that can bring savings to you this tax season.

You undoubtedly know about business-related tax deductions for your car expenses and home telephone expenses (such as long-distance phone calls and special phone services you use for business), but how about some of those lesser known tax deductions? Here are five that tax expert and author Stephen Fishman recently highlighted at Inman News.

1. Business gifts: Gifts you purchase for your customers are deductible as a business expense. The deduction is limited to $25 per person per year. Company-wide gifts, however, are deductible in any reasonable amount.

2. Continuing education courses: Those continuing education courses you’re required to take each year to maintain your real estate license can be deducted, as well as any education courses you take that improve your skill-set in your career (such as webinars). However, you can’t deduct the education expenses for starting a new career path, such as in obtaining a real estate license.

3. Greeting cards: Did you send a client a card to reach out to them and show them you care? Greeting cards you send to clients and prospects are deductible as an advertising expenses, says Fishman.

4. Web sites: Maintaining a business web site can get costly. You can deduct your business-related web site design and maintenance costs, as well as Internet hosting fees and the cost of getting a domain name for your business.

5. Business clothing with logos: Before you go on a clothing shopping spree, make sure you know what you can deduct when it comes to clothes. The business clothes deduction only applies to items with your company logo on it. While you can’t deduct a regular business suit, you can deduct the cost of a sport jacket or coat that boasts your company’s logo on it, Fishman says.

Don't forget: Tax returns are due by April 18 this year (a three-day extension was granted this year due to the weekend and holiday).

Source: “10 Tax Deductions: In Time for April 18 Deadline,” Inman News (March 18, 2011)

6 Ways to Squeeze Out Better Gas Mileage

2011-03-21T10:33:00.001-07:00

With gas prices topping $4 a gallon, real estate professionals who use their car frequently for work are looking for ways to get as much as they can out of every gallon.

Here are some tips for getting better mileage out of your car:

1. Slow down: Most cars get the best gas mileage at 45-55 miles per hour. Driving faster than 60 mph actually can cut gas mileage anywhere from 7 to 23 percent.

2. Don't idle: If you need to wait longer than 20 seconds, you’re better off turning off your engine than keeping your car running. Restarting the car requires less gas than leaving it idling.

3. Lose the heavy load: Make sure you’re not carrying in your car more than what you need. An extra 100 pounds sitting in the trunk or back seat can reduce fuel economy as much as 2 percent.

4. Tighten the gas cap: Fuel can evaporate through gas caps with broken or weak seals. Loose or broken gas caps can cost you a loss of about 2 percent in your gas mileage.

5. Close the windows and turn off the AC: Driving with the windows open or the air conditioner turned on can be big gas wasters. Instead, the most efficient way to keep the car cool is by using the air that comes in through your flow-through ventilator.

6. Get an oil change: Improve your gas mileage by as much as 2 percent by using energy-conserving or synthetic motor oil, which can reduce engine friction.

Source: “10 Tips to Improve Your Vehicle’s Fuel Economy,” RISMedia (March 17, 2011)

Weighing an Offer: 3 Seller Tips

2011-03-16T12:16:00.000-07:00

Sellers can feel pressure when trying to decide whether to accept a buyer offer on their home. While real estate professionals can advise clients on whether to accept an offer, the final decision is up to the seller--and it can be an agonizing one.

In the current buyer’s market, buyers aren’t shy about making lowball offers to sellers either. So when should you accept or decline an offer?
Realty Times recently offered the following questions for sellers to consider.

1. Is the buyer pre-qualified/approved? You may not want to risk a deal falling through because the buyer wasn’t pre-qualified for a loan.

2. Do you need to move quickly? If you need to move quickly--due to a job relocation or to avoid foreclosure--you may need to accept an offer that is less than what you want.

3. Can you accept a loss? Be sure to take closing costs into consideration too as you weigh whether you can even afford to agree to the buyer's offer.

Realty Times also suggests sellers take into account how long their home has been on the market and the number of showings. Such considerations also can help sellers determine whether getting a better offer soon is realistic and would be worth the wait.

Source: “Should I Accept This Offer?” Realty Times (March 15, 2011)

Tax Time Less Taxing for Home Owners

2011-03-15T15:38:00.001-07:00

With a little more than one month before income taxes are due, many of the nation’s 75 million home owners may be appreciating the value of home ownership just a bit more as they take advantage of the tax benefits of owning a home.

“Owning a home offers myriad benefits throughout the year, but some of the financial advantages of home ownership are most apparent at tax time,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “As many of today’s hard-working American families are feeling a financial squeeze, the tax benefits that can come from owning a home can be a welcome relief.”

A number of tax deductions and credits are still available for home owners; these include deductions – with specific limits – for mortgage interest and capital gains on home sales, and credits for certain energy-efficient home improvements. Even with these benefits, home owners pay 80-90 percent of all U.S. federal income taxes.

“It’s been suggested that many of today’s tax incentives for home ownership primarily benefit wealthy individuals, but that’s simply not true,” said Phipps. “As today’s public debate continues about what home ownership means for families, communities, and the nation’s economy, there’s no question that for many, owning a home is still the best way to begin building wealth.”

Ninety-one percent of home owners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.

“REALTORS® see the very real positive impact of home ownership every day with our clients,” said Phipps. “Recent proposals to reduce or eliminate the mortgage interest deduction and remove government support of the housing finance market could have disastrous consequences for the economy, not to mention making it harder or nearly impossible for millions of families to own their own homes. We believe America must continue to invest in home ownership, for the future of our families and our nation.”

For home owner tax season tips, visit www.HouseLogic.com. HouseLogic is a free source of information from NAR that helps home owners maintain and enhance the value of their homes and engage in issues that affect their local communities.

Source: NAR

Lemon Chicken with Olives

2011-03-15T15:36:00.000-07:00

Serves 4| Hands-On Time: 25m | Total Time: 30m
Ingredients
2 tablespoons all-purpose flour
1/2 teaspoon ground cumin
2 teaspoons lemon zest, plus 1 tablespoon fresh lemon juice
kosher salt and pepper
1 1/2 pounds chicken cutlets
2 tablespoons olive oil
2 shallots, thinly sliced
1 cup pitted green olives
1/2 cup flat-leaf parsley, roughly chopped
1/2 cup dry white wine (such as Sauvignon Blanc)

Directions
Mix the flour, cumin, lemon zest, and ½ teaspoon each salt and pepper on a flat plate. Pat the chicken dry with paper towels and dredge in the mixture.
Heat 1 tablespoon oil in a skillet over medium-high heat. Cook the chicken in 2 batches until golden brown, 2 to 3 minutes per side. Transfer to a plate.
Wipe out the skillet and return to medium heat. Heat the remaining tablespoon of oil. Add the shallots and cook until soft, 5 to 7 minutes.
Stir in the olives, parsley, lemon juice, and wine and bring to a boil. Return the chicken to the pan, nestling it in the olives and shallots.
Reduce heat to low and cook, covered, until the chicken is cooked through, about 5 minutes.
Divide among plates.
By Susie Theodorou, February 2008

Spring Gardening Tips

2011-03-09T10:11:00.000-08:00

It's still wishful thinking across much of the country, but the lure of budding trees and blooming flowers has many green-thumbers pressing their noses against the window panes.

The good news? It's never too early to start planning your garden.

First, you must establish what "zone" you live in. Knowing your zone will tell you when to plant what. You can find out your zone by visiting Garden.org.

If the risk of freeze is over in your zone, you might be able to start getting your hands dirty!

Everyone loves to look through Spring seed catalogs and dream up their perfect garden. And every perfect garden starts with a well-thought out plan. Now is the time of year to decide what you want to watch grow and bloom this season.

Draw out plans and pick out colors. Many flower buffs prefer to group like colors together. They'll have a pink annual garden one year and a yellow the next.

Others focus their attention on larger projects, such as decks, pathways, and patios. If this is your intent this year, start your research now. Garden books and magazines are full of inspiration and how-to books can even lead you down the do-it-yourself path. You can also get pricing estimates from local home improvement stores and lumber yards.

Spring is also a time to prepare your soil. This means checking the pH to see if it needs balancing, as well as prepping the soil with compost to ensure it is full of nutrients. Compost works especially well when you add it prior to planting, and it's a natural organic way to make your garden just that much better.

You can also take this time to prune bushes and hedges, clean dirty bird feeders, and service your lawn equipment. If you hire a landscaping company to handle the heavy work for you each year, then now would be a great time to interview potential companies and decide upon a service plan.

Above all else, be sure to enjoy the process of planning and caring for your garden. It really is a rewarding hobby that keeps on giving for years to come.

Article by: by Carla Hill

Research Firm Says U.S. Housing Has Never Been This Undervalued

2011-03-08T15:35:00.000-08:00

The continuing depreciation of residential property values at the end of last year has made housing look more undervalued relative to income than ever before, according to analysts at the research firm Capital Economics.

Based on the latest Case-Shiller home price index, Capital Economics’ study shows that in the fourth quarter of 2010, housing was 21 percent undervalued when compared with disposable income per capital.

Looking at data included in the index published by the Federal Housing Finance Agency (FHFA), the firm found that housing in Q4 was 15 percent undervalued as measured against individuals’ disposable income.

Capital Economics says its results illustrate “housing is exceptionally undervalued,” and the gap is getting bigger. In its third quarter 2010 report, the research firm pegged the Case-Shiller index readings as 19 percent undervalued and the FHFA index as 14 percent below what would constitute a balanced housing value in relation to income.

The recent fall back in house prices, coupled with low rates, explains why the initial monthly mortgage payment on a median priced house bought with a 20 percent down payment has fallen to a record low of 13 percent of the median income, Capital Economics pointed out in its report.

Home prices in 29 states hit a new cycle low in the fourth quarter of last year, and the research firm says on both

the FHFA and Case-Shiller house price indices, housing now appears close to fair value when set against rents.

Such favorable valuations mean there is plenty of scope for housing to perform well in the medium-term, according to Capital Economics, but over the next year, the firm says the combination of weak demand, high supply, and more forced sales of foreclosed properties will push prices lower.

As Capital Economics pointed out, the sharp fall in the mortgage delinquency rate at the end of last year means there are fewer homes in the foreclosure pipeline, but the elevated number of defaulted properties still in process means home values will continue to be negatively impacted by the presence of distress for some time.

On top of low prices, mortgage rates have fallen back a bit in recent weeks, leaving them even further below the 20-year average of 7 percent, the firm’s analysts wrote. Last week marked the third consecutive week that rates have continued to decline. A national survey conducted by Freddie Mac shows that the average 30-year fixed-rate has dropped to 4.87 percent, while the 15-year fixed-rate has slipped to 4.15 percent.

When you wrap declining home prices and historically low mortgage rates together, Capital Economics says, “The incredibly favorable affordability and valuation environment is the housing market’s one big positive.”

But despite this fact, mortgage applications have remained subdued. While buyer demand is notably weak by conventional standards, Capital Economics says the decrease in mortgage apps of late reflects, at least in part, the prevalence of cash buyers.

The company says the recent “de-valuing” of housing stock appears to be attracting cash buyers and investors back into the market.

They have driven 70 percent of the increase in existing home sales seen since last July, particularly among heavily discounted foreclosed homes, Capital Economics pointed out. Over that same period, first-time buyers have been responsible for just 6 percent of the increase in sales of previously owned homes.

By: Carrie Bay 03/07/2011 ©2011 DS News. All Rights Reserved.

Entrepreneurs can change the world

2011-02-11T21:34:00.000-08:00

The Pros and Cons of Corner Properties

2010-09-07T13:57:00.001-07:00

Some people see a corner lot as an asset, but an equal number believe it is a liability.

Pluses of these properties include more flexible design options, shorter driveways, sunnier interiors, and more on-street parking. The negatives are a small and not-very-private backyard, more noise, more streetlights and headlights, and a greater need to look out for dogs and children.

Additional maintenance demands, which bring higher costs, discourage some would-be buyers of corner properties, said Steve Hovany, president of Schaumburg's Strategy Planning Associates, a real estate planning consultancy.

But some buyers like corner homes anyway. A corner home "is a rare home," said Ray Hartshorne, partner with Chicago's Hartshorne Plunkard Architecture. "It's a home that's distinctive in a world that makes distinctive homes more valuable."

Source: Chicago Tribune

Sellers Aren't Cutting Prices

2010-09-07T13:55:00.001-07:00

The number of home sellers listing on Zillow.com who lowered their prices in August was unchanged from July, the first time in five months that price cuts weren’t on the rise.

The median price cut was 7 percent in August, unchanged from July, Zillow calculates.

The largest price cuts were in the Tucson, Ariz., and Portland, Ore., metro areas. Home sellers reduced prices 39.5 percent in Tucson and 38.7 percent in Portland.

Source: Reuters News, Julie Haviv

Most Home Buyers Have No Regrets

2010-09-02T12:49:00.000-07:00

A new survey shows that most home buyers have not regrets. To read the article in it's entirety you may click on the following link.

REALTOR® Magazine-Daily News-Most Home Buyers Have No Regrets

Investment Property: Four Considerations

2010-09-02T11:33:00.001-07:00

Real estate entrepreneur Ryan Moeller offers these four tips for anyone considering a consumer real estate investment:

1. Don’t count on appreciation. Appreciation is a bonus.

2. Watch the loan-to-value ratio. Ideally, the total cost of the purchase, fees, and repairs should be no more than 70 percent of the appraised value of property in good condition.

3. Maximize annual return. Aim for properties that can be rented for at least 1.5 percent to 3 percent of the purchase price. For example, plan to pay no more than $50,000 for a property that can be rented for $750 per month.

4. Have an exit strategy. Seek properties that are attractive enough to have value no matter what happens to the market – as rentals, for sale to other investors, or for sale to somebody who plans to live there via conventional financing or lease purchase.

Source: BiggerPockets.com, Ryan Moeller (09/01/2010)

The Quest for Avalon Within

2010-08-30T11:15:00.000-07:00

The Quest for Avalon Within

Americans Still Want to Own a Home

2010-08-20T10:33:00.001-07:00

More than 72 percent of American adults say that home ownership is a part of their personal American dream, down from 77 percent six months ago, according to a survey for Trulia.com.

About 23 percent said their attitude toward homeownership has grown more positive in the last six months, while 19 percent say they feel more negatively.

Among those adults who are renting a home, 27 percent say they never intend to buy. Of the renters who do plan to purchase eventually, 68 percent said it would be more than two years before they do.

The factors that would encourage them to buy now are:

• Able to save a down payment, 47 percent
• Land a new job, 28 percent
• Interest rates stay low or fall lower, 27 percent
• Some other factor that persuades them that buying makes financial sense, 24 percent
• Get a raise, 23 percent
• Local real estate market stabilizes, 9 percent

Source: Trulia.com

Grilled Chicken and Spinach Quesadillas

2010-08-03T11:42:00.001-07:00

Serves 4

Hands-on Time: 15m

Total Time: 20m

Ingredients

1 2- to 2 1/2-pound rotisserie chicken, meat shredded
4 cups baby spinach (about 3 ounces)
1 1/2 cups grated Monterey Jack (6 ounces)
4 large flour tortillas
1 avocado, diced
1/2 cup store-bought fresh salsa
1/4 cup sour cream
Directions

1. Heat grill to medium. In a large bowl, combine the chicken, spinach, and cheese. Dividing evenly, place the mixture on one half of each tortilla. Fold the other half over to cover.

2. Grill the quesadillas until the cheese has melted and the tortillas are crisp, 3 to 4 minutes per side. Serve with the avocado, salsa, and sour cream.

Tip

Before you grate cheese, coat the grater with cooking spray. It will be easier to use and wash.

Nutritional Information

Calories 776; Calories From Fat 348; Protein 59g; Carbohydrate 47g; Sugar 3g; Fiber 7g; Fat 39g; Sat Fat 15g; Sodium 1044mg; Cholesterol 171mg

Homeownership Falls to Lowest Level Since 1999

2010-08-03T11:40:00.001-07:00

The homeownership rate fell to 66.9 percent in the second quarter, down from 67.1 percent in the first quarter, according to the U.S. Census Bureau. This was the lowest level since 1999.

The homeownership rate reached a record high of 69.2 percent in the second and fourth quarters of 2004.

Rising foreclosures are driving the decline. A record 4.6 percent of U.S. mortgages were in foreclosure in the first three months of 2010, the Mortgage Bankers Association reported in May.

Source: Bloomberg, Kathleen M. Howley (07/27/2010)

California Foreclosures Drop to 3-Year Low

2010-07-23T10:31:00.000-07:00

The number of home owners in California entering foreclosure in the second quarter dropped to a three-year low, according to research firm MDA DataQuick.

Default notices, the first step in the foreclosure process, fell 43.8 percent in the second quarter compared to the same period last year.

Analysts say the decline is due to banks pushing loan-modification programs and short sales. Also, fewer homes are underwater thanks to a recovery in home prices, so a smaller number of home owners are walking away.

Ironically, regions of the state where homes are cheapest are most likely to see the highest number of default notices. According to DataQuick, neighborhoods with a median sales price of less than $300,000 experienced 10.6 default notices for every 1,000 homes, while neighborhoods with prices above $800,000 accounted for 2.9 notices for every 1,000 homes.

Source: Los Angeles Times

Frugal Tips for Making a Home More Appealing

2010-07-15T22:03:00.001-07:00

Homeowners who want to sell but don’t have a lot of cash to spruce up their properties might consider these tips from Bankrate.com for upgrading a property without spending a fortune.

Polish up the kitchen. Add new cabinet door handles, replace lighting and update the faucet set. Unless the cabinets are mica, give them a fresh coat of paint. Order new doors for kitchen appliances.

Tidy up the bath. Replace the toilet seat. Clean up the floor with vinyl tiles or sheet vinyl applied over the old floor. Re-grout the tub and, if the tub is dingy, add a new prefabricated tub and shower surround.

Paint the walls.

Add closet systems to all the bedrooms, pantry, and entry closets.

Hire a plumber and an electrician to fix anything that is loose or that leaks.

Clean the carpets or, if they are worn, cover them with area rugs.

Replace ceiling lights with inexpensive but attractive fixtures.

Refinish or repaint the front door and replace the hardware.

Mow the lawn, edge the sidewalks, mulch all the beds and put two big planters at either side of the front door.

Source: Bankrate.com

Most Affordable Popular Retirement Locations

2010-07-09T11:51:00.001-07:00

The real estate downturn has turned some very popular retirement destinations into bargains.

To determine where the prices are most attractive, U.S. News & World Report examined price-to-income data for 384 metropolitan statistical areas. This expresses the relationship between owner income and home values.

Here are 10 retirement havens where homes are most affordable by this measure:

1. Bend, Ore.
2. Napa, Calif.
3. Fort Meyers, Fla.
4. Fayetteville, Ark.
5. Las Vegas
6. Sante Fe, N.M.
7. Punta Gorda, Fla.
8. Phoenix
9. Santa Cruz, Calif.
10. Burlington, Vt.

Source: U.S. News & World Report, Luke Mullins

For Gen Y, Tiny Is the New Small

2010-07-09T11:42:00.001-07:00

Condo and apartment developers in cities nationwide are thinking small in an effort to keep prices low and satisfy Gen Y buyers who are more concerned about location than they are about spacious accommodations.

The more expensive a city, the smaller the new developments. In San Francisco, there are a number of complexes where units range from 250 to 350 square feet. In Vancouver, British Columbia, there is a “micro-loft” building where apartments are 270 square feet.

“For Gen Y, the home is a place to live out of, not to live in,” says John McIlwain, a senior fellow for housing at The Urban Land Institute in Washington D.C. “They don’t think of this as a sacrifice. It’s just their lifestyle.”

Source: MSNBC.com, Jane Hodges

Why Use a REALTOR®?

2010-07-08T12:50:00.000-07:00

Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.

Only about half of all real estate agents are REALTORS® - the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer's representatives.

Move or Remodel

Are you considering a move? Check out HouseLogic, NAR's new consumer site, to analyze the pros and cons of moving or staying put, plus lots more information about owning a home.

REALTORS® Are Experts

Eighty-five percent of sellers were assisted by a real estate agent when selling their home, according to NAR Research, and 79 percent of buyers purchased their home through a real estate agent or broker.

Why Use a REALTOR®?

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Here are 12 ways a REALTOR® will make your home buying or selling experience better.

REALTORS® Are Part of the Community

REALTORS® Work to End Housing Discrimination - during April, which is Fair Housing Month, and all year long. REALTORS® are active members of their communities.

REALTORS® Protect You

Only REALTORS® Follow a Code of Ethics

To be a member of NAR and a REALTOR®, a real estate agent must abide by a set of professional principles and serve clients fairly.

Learn how the Code of Ethics affects everyday real estate practices

Specialty Mortgages: What Are the Risks and Advantages?

A growing number of home buyers are deciding to use one of several new types of specialty mortgages that let them "stretch" their income so they can qualify for a larger loan. Before you decide whether a specialty mortgage is for you, read this brochure.

Victory in Washington DC

2010-07-01T07:14:00.001-07:00

Last night, the Senate passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010, to the date of enactment of the extension. NAR members sent more than 250,000 letters to Members of Congress encouraging them to extend the program.

Additionally, Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.

Our Government Affairs team worked closely with Congressional leaders on both sides of the aisle to enact this important legislation.

NAR is still working on restoring the 502 single-family rural housing loan guarantee program. Language is included in H.R. 4899, the Emergency Supplemental Appropriations bill, that is currently in conference between the House and Senate. We expect the House to pass that bill shortly and are hopeful the Senate will do the same when they return the week of July 12. When that bill passes, the program will be restored through the end of the fiscal year.

For additional information on the tax credit extension, the flood insurance program and rural housing, please visit www.realtor.org/government_affairs

Top 10 Fastest Growing U.S. Counties

2010-06-25T23:02:00.000-07:00

The fastest-growing counties in the country, according to the U.S. Census Bureau, are mostly in suburban areas outside of urban centers.

The census numbers govern the distribution of more than $400 billion in federal money each year.

Here are the 10 fastest-growing counties:

1. Kendall County, Ill. (Chicago), 92.1 percent
2. Pinal County, Ariz. (Phoenix), 89.7 percent
3. Rockwall County, Texas (Dallas), 88.9 percent
4. Flagler County, Fla. (Jacksonville), 83.9 percent
5. Loudon County, Va. (Washington, D.C.), 77.6 percent
6. Forsyth County, Ga. (Atlanta), 77.4 percent
7. Lincoln County, S.D. (Sioux Falls), 70.7 percent
8. Paulding County, Ga. (Atlanta), 67.4 percent
9. Williamson County, Texas (Austin), 64.3 percent
10. Douglas County, Colo. (Denver), 64 percent

Source: CNNMoney.com

Mortgage Rates Hit an All-Time Low

2010-06-25T22:58:00.001-07:00

Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac.

Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment.

Source: Washington Post

Tips for Your Clients Who Garden

2010-06-23T07:24:00.001-07:00

Garden improvements don’t have to dig your clients into a deep financial hole. Help them plant a lush yet dirt-cheap garden by passing along 10 tips for saving money in the garden now available in the June “ABCs of Landscaping” article package at the REALTOR® Content Resource. Here are just two of the tips now available on gardening on a budget:

1. Understand your land. Before shelling out money for new plants, look at what has thrived and what has died in your garden over time. If you’re new to the area, ask neighbors with similar growing conditions what has worked for them.

Keep in mind that even plants appropriate for your growing zone might not work in your personal patch, depending on the soil composition, sunlight patterns, microclimate, pests, and available water. Your local cooperative extension service can analyze your soil and recommend amendments and suitable plantings.

2. Avoid invasives. No matter how big your hurry to see your garden fill in, be wary of a plant billed as a “fast grower” or “aggressive.” Often that’s code for an invasive species—a non-native plant that makes its way into the landscape and crowds out the locals by stealing their nutrients, light, and water.

The U.S. Department of Agriculture maintains a list of invasives, which include various ivies, grasses, weeds, vines, self-seeding varieties of bushes and shrubs, even seemingly innocuous herbs like mint. Your county extension service can steer you toward the species best suited to your plot. Tip: If you love growing mint in the garden, contain it in a pot.

Also available in the June “ABCs of Landscaping” article package now available at the REALTOR® Content Resource are tips on saving money with an edible garden, using a calendar for lawn maintenance, landscaping for curb appeal, and seven gardening mistakes to avoid.

The REALTOR® Content Resource, the new tool brought to you by the NATIONAL ASSOCIATION OF REALTORS®, is an exclusive NAR member benefit that entitles you to download free homeownership content to your consumer Web site, blog, or e-newsletter. HouseLogic is the NATIONAL ASSOCIATION OF REALTORS’® no-topic-left-uncovered consumer website geared to helping home owners make smart decisions to maintain, protect, and increase the value of their home.

Source: NAR

Continued Strong Pace for Existing-Home Sales

2010-06-23T07:22:00.001-07:00

Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of REALTORS®. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.

Buyers Face Purchasing Delays
Lawrence Yun, NAR chief economist, said he expects one more month of elevated home sales. “We are witnessing the ongoing effects of the home buyer tax credit, which we’ll also see in June real estate closings,” he said. “However, approximately 180,000 home buyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales.

“In addition, many potential sales are being delayed by an interruption in the National Flood Insurance Program. Florida and Louisiana, also impacted by the oil spill, have the highest percentage of homes that require flood insurance.”

As the leading advocate for homeownership issues, NAR is supporting Senate amendments to extend the home buyer tax credit closing deadline through September 30 for contracts written by April 30, and to renew the flood insurance program. “Sales and related local economic activity would have been higher without delays in the closing process or flood insurance issues,” Yun noted.

Housing Still Affordable
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.89 percent in May from 5.10 percent in April; the rate was 4.86 percent in May 2009.

The national median existing-home price for all housing types was $179,600 in May, up 2.7 percent from May 2009. Distressed homes slipped to 31 percent of sales last month, compared with 33 percent in April; it was also 33 percent in May 2009.

NAR President Vicki Cox Golder said home prices have been stabilizing all year. “With distressed sales at roughly the same level as a year ago, the gain in home prices is a hopeful sign that the market is in a good position to stand on its own without further government stimulus,” she said. “Very affordable mortgage interest rates and stabilizing home prices are encouraging home buyers who were on the sidelines during most of the boom and bust cycle.”

Pending home sales are expected to decline notably in May and June from the spring surge, but Yun added that job growth and a manageable level of foreclosures are keys to sales and price performance during the second half of the year.

Inventory Falling
A parallel NAR practitioner survey shows first-time buyers purchased 46 percent of homes in May, down from 49 percent in April. Investors accounted for 14 percent of transactions in May compared with 15 percent in April; the remaining sales were to repeat buyers. All-cash sales were at 25 percent in May, edging down from a 26 percent share in April.

Total housing inventory at the end of May fell 3.4 percent to 3.89 million existing homes available for sale, which represents an 8.3-month supply at the current sales pace, compared with an 8.4-month supply in April. Raw unsold inventory is 1.1 percent above a year ago, but is still 14.9 percent below the record of 4.58 million in July 2008.
Single-family home sales declined 1.6 percent to a seasonally adjusted annual rate of 4.98 million in May from a pace of 5.06 million in April, but are 17.5 percent above the 4.24 million level in May 2009. The median existing single-family home price was $179,400 in May, which is 2.7 percent above a year ago.

Single-family median existing-home prices were higher in 16 out of 20 metropolitan statistical areas reported in May from a year ago. In addition, existing single-family home sales rose in 18 of the 20 areas from May 2009.

Existing condominium and co-op sales fell 6.8 percent to a seasonally adjusted annual rate of 680,000 in May from 730,000 in April, but are 32.6 percent above the 513,000-unit pace in May 2009. The median existing condo price was $181,300 in May, up 3.4 percent from a year ago.

By Region
Existing-home sales in the Northeast fell 18.3 percent to an annual level of 890,000 in May from a surge in April, but are 12.7 percent higher than a year ago. The median price in the Northeast was $240,200, down 2.2 percent from May 2009.
In the Midwest, existing-home sales were unchanged in May at a pace of 1.33 million and are 22.0 percent above May 2009. The median price in the Midwest was $150,700, up 2.2 percent from a year ago.
In the South, sales increased 0.5 percent to an annual level of 2.15 million in May and are 22.9 percent above a year ago. The median price in the South was $159,000, up 1.0 percent from May 2009.
Existing-home sales in the West rose 4.9 percent to an annual rate of 1.29 million in May and are 15.2 percent higher than May 2009. The median price in the West was $221,300, up 7.4 percent from a year ago.

Source: NAR

Home Prices in California Jump in May

2010-06-18T12:06:00.000-07:00

Median home prices in California rose to $278,000 in May, up 20.9 percent from May 2009, according to MDA DataQuick, which tracks real estate data in the state.

Low mortgage rates and the tax credits encouraged the sales of lower- and higher-priced homes, pushing up the median price, says DataQuick President John Walsh.

Walsh cautioned that there are many homes in foreclosure that haven’t been repossessed by lenders. If lenders take control of these properties and put them on the market, those sales will have a very negative effect on prices, he says.

Source: Associated Press, Jacob Adelman (06/17/2010)

Buyers Drive Hard Bargains in a Tough Market

2010-06-18T11:20:00.001-07:00

Unrealistic buyers are ruining the deal for sellers who are unwilling to make extreme concessions, some real estate practitioners complain.

''We see buyers who must have learned their moves from the World Wrestling Federation,'' says Glenn Kelman, CEO of the online brokerage Redfin. ''They think the final smack-down occurs at the inspection, where the seller will be reluctant to refuse any demand because the alternative is putting the house back on the market as damaged goods.''

But buyers say they're simply being smart.

''We had the position, 'If the seller is willing to come down enough, we will buy this home.' If they weren't willing, we would have just moved on. In this market, you have a lot of options,'' says Chris Dunn, a consultant in Chicago, who sought a 10 percent reduction on a property priced at more than $500,000.

Source: The New York Times, David Streitfeld (06/17/2010)

California Economy

2010-06-18T10:36:00.000-07:00

California’s economy to see sluggish recovery this year, UCLA economists say East Bay Real Estate.

Los Angeles Times

California’s unemployment rate, currently at 12.4 percent, will not return to single-digit levels until 2012 and the state’s inland areas will continue to be impaired by excess housing inventory and state budget cuts, according to a forecast released Tuesday by UCLA’s Anderson School of Business.

KEEP THIS IN MIND

• California’s economic recovery is contingent on consumer shopping behavior nationwide, as retail spending drives traffic at California’s ports and logistics centers, which are both substantial employers throughout the state, the report said. However, consumers are unlikely to increase spending until businesses begin hiring again, which many economists believe will only happen gradually over time.

• The coastal areas of the state will benefit from growth in health care, education, and technology, while inland areas will be constrained by excess housing inventory and state budget cuts, impacting rural inland areas where government workers account for a significant percentage of the workforce, according to the forecast.

• The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently issued its mid-year housing market forecast. Based on C.A.R.’s forecast, the median home price in California is expected to rise 9.1 percent this year compared with last year, while sales of existing, single-family homes will decline 4.7 percent. Rates on 30-year, fixed-rate mortgages will rise to 5.3 percent compared with 5.1 percent in 2009 and 15-year mortgages will average 4.2 percent compared with 4.7 percent last year, according to the forecast

To read the full story, please click here:

http://www.latimes.com/business/la-fi-ucla-forecast-20100615,0,6824904.story

Stop Point-of-Sale Requirements in Hayward

2010-05-31T13:01:00.001-07:00

The Hayward Sustainability Committee is studying a Residential Energy Conservation Ordinance that would requite energy efficiency audits and retrofits when a home is sold. Homeowner education, voluntary programs and incentives are better ways to make homes more energy efficient.

If you're a Hayward REALTOR® or resident, Bay East needs your help.

We need your perspective on the Hayward residential real estate market and how point-of-sale requirements are ineffective and would have a negative impact on home sales.

Please attend the Hayward Sustainability Committee meeting on Wednesday, June 2 at 4:30 p.m. in Hayward City Hall, Room 2A, 777 B Street.

Subject Lines On Email Messages Are Like Headlines On Ads

2010-04-14T06:44:00.000-07:00

Before writing that email here are some great tips in preparing your subject line so it will be read vs tossed...... Realty Times - Subject Lines On Email Messages Are Like Headlines On Ads

NO MORE STATE TAX ON FORGIVEN DEBT

2010-04-13T15:10:00.000-07:00

Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification. Enacted into law yesterday, Senate Bill 401 generally aligns California's tax treatment of mortgage debt relief income with federal law. For debt forgiven on a loan secured by a "qualified principal residence," borrowers will now be exempt from both federal and state income tax consequences. The existing federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.

"Qualified principal residence" indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence. It includes both first and second trust deeds. It also includes a refinance loan to the extent the funds were used to payoff a previous loan that would have qualified.

The tax breaks apply to debts discharged from 2009 through 2012. Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.

Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions. Most notably, taxpayers who are bankrupt are exempt from debt relief income tax. Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.

For more information about mortgage forgiveness tax consequences, go to California Franchise Tax Board's Mortgage Forgiveness Debt Relief Extended webpage and the Internal Revenue Service's Mortgage Forgiveness Debt Relief Act and Debt Cancellation webpage. The full text of Senate Bill 401 is available at www.leginfo.ca.gov.

Information provided by California Association of REALTORS®

Short Sale Tax Relief Pending

2010-04-09T18:19:00.001-07:00

On Thursday, April 8, the California Legislature passed SB 401 which could provide homeowners relief from state taxes on mortgage debt that is forgiven in a short sale. Federal tax laws protect homeowners from being taxed on the "phantom income" that occurs when mortgage debt is forgiven. However, they were still subject to California taxes on this "phantom" income.

According to C.A.R., Governor Schwarzenegger is expected to sign the bill before the April 15 tax filing deadline.

Foreclosure Alternatives Program Launched

2010-04-09T18:18:00.001-07:00

On Monday, April 5, banks nationwide began offering the Home Affordable Foreclosure Alternatives Program (HAFA). This new federal program will try to help homeowners avoid foreclosure by offering incentives to lenders that offer a short sale or deed-in-lieu of foreclosure.

Earlier this week, NAR reported some lenders and loan services have been slow to implement the program or are unaware of its availability.

NAR has prepared resources to help REALTORS® answer questions about HAFA. Their new short sale Web page includes HAFA forms, breaking news and Fannie Mae and Freddie Mac real estate commission policies. To learn more about the program, please click here.

Governor signs home tax credit bill

2010-03-25T20:24:00.000-07:00

Governor Schwarzenegger today signed AB 183 providing $200 million for home buyer tax credits. The bill allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes.

Eligible taxpayers who close escrow on qualified principal residences between May 1, 2010 and December, 31, 2010, or who close escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit.

This credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under the bill, purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state). Buyers also must be at least 18 years old and be unrelated to the seller. First-time buyers are defined as those who have not owned a home in the past three years.

To learn more about the California Home Buyer Tax Credit, click here.
http://www.car.org/governmentaffairs/stategovernmentaffairs/homebuyertaxcredit/

NAR official testifies about disaster insurance and FHA changes

2010-03-12T20:44:00.000-08:00

NAR Immediate Past President Charles McMillan took the REALTOR® voice to Capitol Hill twice this week testifying before House subcommittees about insurance for natural disasters and the FHA Reform Act of 2010.

On March 10, McMillan was in front of two House financial services subcommittees urging them to create affordable insurance for natural disasters. He explained that property insurance is a key part of the home buying process; the cost of insurance also impacts housing affordability and that high insurance costs for multi-family and commercial properties are passed on to tenants in the form of higher rents.

McMillan suggested several solutions including federal policies that: protect property owners by making insurance coverage available and affordable; ensure that those living in high-risk areas understand their personal responsibility to purchase adequate insurance; support proper land-use decisions and building codes that also allow for local control and reinforce the role of government in maintaining infrastructure such as levees, dams and bridges.

On March 11, McMillan was back on Capitol Hill this time before the House Financial Services Subcommittee on Housing and Community Opportunity asking Congress to be careful about FHA reform and urging them to make the current conforming loan limits permanent.

The NEW iPhone 4G - Coming 2010

2010-03-09T22:35:00.000-08:00

The NEW iPhone 4G - Coming 2010

U.S. Department of Housing and Urban Development (HUD)

2010-01-20T09:58:00.000-08:00

FHA today announced policy changes that will help FHA better manage risk and maintain support for the housing market as well as underserved communities. Check out the HUD press release for more details on the changes to FHA/ http://bit.ly/6ndtdV

U.S. Department of Housing and Urban Development (HUD)

January Message

2010-01-19T22:40:00.000-08:00

I am honored and excited to serve as your President for 2010. In the coming year, we will be faced with many challenging situations and opportunities. By working together, I believe we can overcome any difficult task that we might face.

When I was elected, I had very specific goals to accomplish in 2010. I would like to share them with you.

1] Bring members together through communications. We are living in the midst of a technological and informational revolution. There is an abundant amount of data available at our fingertips and it arrives in an increasingly rapid rate. Many times, there is so much coming at us that we become overwhelmed and miss important information. That is why one of my goals is to continue to explore new and innovative ways to effectively communicate Bay East information in a format that is easily understood and accessed.

2] Develop new leadership. In addition to providing resources that could help our members achieve success, we must discover new ways to involve more of you in leadership positions. It has been said that the strength of our association can be found in the wide variety of personalities, talents, backgrounds and experiences reflected in our members. I believe in this statement and have asked our current leadership team to identify future leaders who possess the skills and passion needed to guide Bay East into the next decade.

3] Create a dialogue with our association’s young professionals. Not only are our young professionals the future leaders of our association, they are a resource for information and knowledge. These individuals have openly embraced emerging technologies and incorporated them into their business models. By blending their skills with seasoned agents’ knowledge and experiences, we can all benefit. I will encourage our association to bring these groups together to share ideas and let them work alongside each other when designing our strategic plans and goals.

4] Promote “GREEN” technology and initiatives through Bay East. 2010 brings us the new Bay East GREEN Council whose purposes are to incorporate ecological strategies into the association’s operations; to encourage you to incorporate these concepts into your business practices; to educate the public about GREEN practices and advocate the responsible inclusion of these ideals into local public policy that impacts real estate. I would encourage you to watch for GREEN tips in our weekly communications and incorporate them into your personal and professional lives.

5] Develop and strengthen our relationships with neighboring associations and community organizations. In a time where fast-moving technology binds people across borders and regions, it is becoming increasingly important to realize that interdependence is the foundation for success as an association and real estate professionals. Cooperative efforts such as the new Full Reciprocal Access Network (also known as Quattro) will allow us to access property and listing information in 21 counties and communities in the greater Bay Area and the Central Valley. In 2010, we will continue to forge new partnerships and strength our existing relationships with community organizations and neighboring associations.

In closing, Bay East will remain committed to bringing outstanding products and services that help you succeed and prosper in the coming year. To this end, we are developing new, free real estate applications; instituted cost savings measures throughout the organization; and are currently engaged in looking for further cost savings and efficiencies which will bring our members additional benefits. As part of these efforts, we are studying the feasibility of merging with our neighboring association, the Contra Costa Association of REALTORS®, with whom we have had many successful business partnerships.

We are excited about the opportunities which a merger may present. Cost savings, greater efficiencies, new innovative services, coupled with the programs we offer today would enable us to provide a higher level of service to our members.

During the next few months, we will be doing the necessary due diligence and analysis to determine if there are sufficient benefits to our members in consolidating the two associations. At the conclusion of this phase, your Board of Directors will be able to determine if there are compelling reasons to move forward with a membership vote on merging. Look for more details on this development in the upcoming months.

It takes many stars to create a constellation and each one of you is a shining star. By working together, we can make 2010 a bright and successful year!

Pam

I‘m always available to answer your questions. Please feel free to contact me at President@bayeast.org

Major Changes Brewing at FHA

2010-01-19T22:37:00.000-08:00

On Friday, Jan. 15 NAR sources in Washington D.C. indicated that FHA is about to announce the following changes to its purchase finance programs.

Borrower Issues:

Borrowers will be unable to finance upfront premiums;
Seller concessions will be reduced from 6% to, possibly, 3%;
Borrowers must have a minimum FICO score and their maximum loan-to-value ratio may be impacted by their FICO score; and Mortgage Insurance Premiums may be raised from their current 1.75% level.

Lender Issues: While the final lender eligibility rule has not been published, NAR is reporting the following proposed changes for FHA lenders:

Increasing net worth requirements of lenders to $2.5 million over the next 3 years; 20% of lender net worth must be liquid assets; and Increased default monitoring by lender underwriters.

Sweets for the Holidays

2009-12-23T18:41:00.000-08:00

It's always fun to indulge in a few extra sweets during the holiday season, so I'm including a recipe for a delectable Eggnog Fudge! I hope that you and your family will enjoy this recipe, and I wish you all a day that is overflowing with love, mercy and hope.

Eggnog Fudge

1/8 cup butter, chilled
3 cups sugar
1 cup eggnog
6 ounces white chocolate chips
1 1/2 cup mini-marshmallows
1 cup almonds, chopped
1/2 teaspoon nutmeg
1/2 teaspoon cinnamon

Line a 9" x 9" cake pan with aluminum foil (set aside). Spray the sides of a large saucepan with a non-stick spray and add the eggnog and sugar, and bring to a rolling boil over medium-high heat - stir constantly! Boil for two full minutes.

Fold in the marshmallows, cinnamon, and nutmeg. Bring back to a rolling boil for another 6 minutes, stirring constantly. The mixture will start to turn brown, which is normal, but if you see brown flakes in the mixture, simply turn down the heat a little.

Remove from heat and add the butter, chips, and nuts. Stir until thoroughly mixed or until the mixture starts to lose its glossy appearance. Pour into prepared pan. Cool at room temperature. Remove from pan, remove foil, cut into 1-inch squares. Enjoy!

Enjoy & Seasons Greetings!

San Leandro Adopts Climate Action Plan

2009-12-22T22:18:00.000-08:00

The San Leandro City Council adopted a Climate Action Plan (CAP) at their meeting on Monday (Dec. 21).

In response to significant input from Bay East members the Council removed the Residential Energy Conservation Ordinance (RECO) that was part of the original version of the CAP. The RECO was replaced with several alternatives that included incentives and financial assistance for property owners to perform energy efficiency upgrades. Unfortunately, a point-of-sale requirement was included as an option in the future. On a brighter note, the council directed staff to include REALTORS® in the implementation of the CAP.

The city council action on this item, while not a complete victory for REALTORS® and property owners, shows that our voice was heard in city hall. Special thanks to those Bay East members who sent e-mails, made phone calls, met with city council members and testified at the meeting.

More Issues for the REALTOR@ Radar Screen

2009-12-21T22:43:00.000-08:00

Government involvement in real estate and property rights issues isn't taking a break for the holidays. During the last few days, the following issues have popped up that we'll be tracking:

Historic Preservation Ordinances: The cities of Hayward and Livermore are both preparing historic preservation ordinances, which could directly impact private property rights and property values. Last year, Bay East REALTORS® successfully fought a historic preservation ordinance proposed by Alameda County. We'll be watching both of these cities to ensure their ordinances don't negatively impact property values or property rights.

Development Moratorium in Cherryland: Several environmental activists are urging the Alameda County Board of Supervisors to enact a building moratorium in Cherryland. Additionally, they are asking all currently vacant parcels be developed as park land. Members of the Bay East Local Government Relations Council and Bay East staff will be working with Alameda County officials and the Board of Supervisors to ensure private property rights are protected.

Conforming Loan Limits Extended

2009-11-06T16:17:00.000-08:00

Late last week President Obama signed a continuing resolution that, among other things, extended the $729,750 FHA, Fannie Mae and Freddie Mac conforming loan limits through December 31, 2010.

Maintaining the $729,750 limit makes home ownership more affordable for thousands of home buyers because borrowers do not have to pay the higher interest rates typically associated with "jumbo" non-conforming loans.

Halloween Safety

2009-10-24T21:46:00.001-07:00

Halloween is fun. Candy corn, kids in costumes and carved pumpkins set the scene. Follow these simple tips provided by the Home Safety Council to make sure your Cinderella or Frankenstein does not get spooked by holiday dangers:

~ Make sure walkways and porches are well lighted to help prevent falls.
~ Make sure your lawn is clear of things that could be tripped over, such as pumpkins, ladders, garden hoses, flowerpots, bikes and animal leashes.
~ Do not overload electrical outlets with holiday lighting or special effects.
~ Keep all exit doors clear.

Have a happy and safe Halloween.

Tax Credit Extension Update

2009-10-24T14:21:00.000-07:00

The National Association of REALTORS is stepping up pressure on Congress to extend the $8,000 home buyer tax credit. Their strategy includes a nation-wide call-for-action which more than 450,000 REALTORS® have answered by either calling or emailing their elected officials. NAR is also placing ads in Washington D.C. newspapers and on the Wall Street Journal, New York Times, Washington Post and Google websites.

Finally, NAR officials are meeting directly with congressional leaders. Earlier this week NARs First VP Ron Phipps testified in front of the Senate Banking Committee about the impact the Tax Credit has had on home buying activity in 2009.

Fourth of July Picnic and Fireworks

2009-07-02T16:25:00.001-07:00

Red, White & Blue Picnic and Fireworks
Saturday, July 4th, 2009
5:00pm-10:00pm
San Ramon Central Park
Presented by Shapell Homes

The City of San Ramon’s Red, White & Blue Picnic & Fireworks is scheduled for Saturday, July 4th in San Ramon's Central Park located at 12501 Alcosta Blvd from 5pm - 10pm. Enjoy our beautiful park setting with a family picnic and music from KKIQ radio being broadcast for your listening enjoyment. There will be a spectacular fireworks display synchronized to music at 9:30 p.m. For those of you not in Central Park, the accompanying music for the fireworks can be heard on KKIQ radio, 101.7.

Everyone is encouraged to bring a picnic to the park, enjoy time with family and friends and celebrate the birthday of our great nation. Please note that there will not be any food booths or live entertainment on-site this year. Plan to bring your food and non-alcoholic beverages with you. Please be kind to your pets and leave them secure at home.

The charge for parking in lots surrounding Central Park will be $10 per car. Handicapped parking will be located in the Community Center lot off of Alcosta Blvd. Residents are encouraged to go green and carpool and walk to the park to help the environment.

From the 680 Freeway exit at Bollinger Canyon and head east to Central Park.

Tips for Improving Memory

2009-07-01T15:38:00.000-07:00

Have you ever been introduced to someone, only to forget her name two seconds after you shake her hand?

Don't worry. This is NOT evidence that you're losing your mind. Turns out, it's actually an extremely common occurrence for many people. The good news is there is plenty of research on the subject and there are a number of simple, practical steps you can take to improve your memory now and long into the future.

With that in mind, here are a couple of great tips for proactively strengthening your memory:

Tip #1: Neurobic Exercise
You know all about the wonderful effects aerobic exercise has on the heart, but have you heard of neurobic exercise for the brain?

According to Lawrence Katz, co-author of Keep Your Brain Alive: 83 Neurobic Exercises, the best exercise for the brain is to force it to form "new patterns of association" or new pathways. In other words, challenge your brain every day. take it off autopilot and make it relearn or create new associations with the most routine activities of your day.

Katz's book offers numerous examples of small changes you can make to activate your brain, including: brushing your teeth with the other hand; taking an alternative route to work; moving your wastebasket to the other side of your desk; closing your eyes while putting your key in and unlocking the front door; and changing where you and your family members sit at the dinner table.

So if you feel like your memory might be starting to slip a bit, try some of these simple neurobic exercises today!

Tip #2: Mnemonic Drilling
There are actually three steps or stages of memorization: acquisition, consolidation, and retrieval. That means, once we acquire new information, like someone's name for instance, the way in which we consolidate that data will directly affect how well we're able to retrieve it from memory.

Whether you're a visual or auditory type of learner, there are many mnemonic devices that can help you to better organize or consolidate the new information that you need to recall.

Here's an example of simple steps that might help:

First, associate the data you want to remember with common images. For instance, let's say you meet someone named Jennifer Green. Imagine Jennifer playing golf, or picture her wearing all green clothes, or imagine her face painted completely green.

Second, think of associations you can use to help you remember this person. For instance, link Jennifer to the quality that best fits her personality (use alliteration and rhymes whenever possible): Jolly Jennifer Green.

Finally, connect sound to your memory by saying the name aloud.

Do this regularly and, before you know it, you'll never forget anyone's name again!

Info from MMG Weekley

What's New in Washington DC

2009-05-18T13:08:00.000-07:00

Bay East Goes to Washington D.C.: With the federal government deeply involved in trying to jump-start the real estate market, the timing could not have been better to take our concerns to Washington D.C. A team of Bay East REALTORS® including President Pat Huffman, President-Elect Pam Winterbauer and treasurer Otto Catrina joined federal political coordinators Dorothy Jackson and Kevin Brown as REALTORS® from across the country descended on the nation's capitol as part of NAR's mid-year meeting.

Our visit to Capitol Hill was welcomed by elected officials and their staff looking for ideas to help housing and the economy. The Bay East team was ready to provide the REALTOR® perspective. On Wednesday, May 13, they met with staff members from Congress members Barbara Lee and Pete Stark. On Thursday, they met personally with Congressman Jerry McNerney. Our message focused on federal policies that impact home purchase financing; energy efficiency; commercial lending and health care reform.

Home Purchase Financing: Our team urged the East Bay congressional delegation to make the 2008 conforming loan limits permanent, extend the $8,000 Federal Tax Credit and make it available to all home buyers.

Energy Efficiency: We explained why proposed federal legislation that would require an energy audit at the point-of-sale would not accomplish the goal of making homes more energy efficient. Instead, we're supporting another bill that offers incentives to homeowners to make energy efficiency improvements.

Commercial Real Estate Financing: While the nation has been dealing with the fallout from sub-prime mortgages and ARMs resetting, commercial real estate financing also is at risk. Specifically, many loans for commercial real estate are based on very short terms and the lack of available credit means limited refinancing options. The Bay East team explained that the short, three-year term of the Term Asset-backed Securities Loans that help secure commercial mortgage-backed securities need to be extended.

Health Care Reform: The REALTOR® position on health care issues is to make sure small businesses and independent contractors are included in federal plans for making health care available and affordable.

All of the elected officals and staff we met with were receptive to our concerns and issues. NAR's lobbying team in Washigton D.C. welcomed our participation in their daily activies and encouraged REALTORS at the local level to help make sure Congress is aware that we're paying attention.

No Job? Can' Refinance? How to Talk to Your Bank

2009-03-12T16:36:00.000-07:00

As unemployment rises in many states, more homeowners are finding it difficult to pay their mortgage each month. Although most unemployed homeowners do not qualify for refinancing, as they do not meet the minimum qualifying requirements such as proof of income, there are steps they can take to improve their chances of a successful refinance.

KEEP THIS IN MIND
• The first, and probably most important step in the refinance process, is to find out which company services the loan. The loan servicer may or not may not be the company where the mortgage payment is sent each month. This step is crucial, because the loan servicer is generally the one that can modify the loan. If the loan servicer is not able to provide assistance, the owner of the mortgage may be able to help.

• Once a homeowner realizes he or she may no longer be able to pay the mortgage, the homeowner should contact the “loss mitigation department” of the lender. The “loss mitigation department” is where the refinance and/or loan modification process begins.

• After discussing options with the loss mitigation department, homeowners should write a
forbearance letter, also known as a postponement of payment letter. This letter is sent to the
servicer or lender and details the homeowner’s current financial situation and hardship.

• Many government agencies and nonprofit organizations provide free services to homeowners and will serve as an intermediary between the lender/servicer and the homeowner. Some companies charge fees for the same services. Housing analysts caution homeowners to conduct research and due diligence prior to paying a company for loan modification and/or refinance assistance.

To read the full story, please click here: http://www.cnbc.com/id/29595747

Article compliments of California Association of REALTORS

Spring Forward Began March 8

2009-03-09T13:22:00.000-07:00

Daylight Saving Time (DST) began on Sunday, March 8, 2009. The way we refer to time zones also changes. For example, Eastern Standard Time (EST) becomes Eastern Daylight Time (EDT).

But remember, some areas of the United States don’t use DST, such as Arizona, Puerto Rico, Hawaii, the US Virgin Islands and American Samoa. More Sun…

Daylight Saving Time Runs Longer
In case you hadn’t noticed over the last two years, DST now begins earlier and runs longer. The extra time that we enjoy is actually the result of the Energy Policy Act, which President Bush signed into law in 2005 and went into effect in 2007. The Act changed the start date of DST to the second Sunday in March — three weeks earlier. It also moved the end date out one week to the first Sunday in November.

Benefits of Daylight Saving Time
Despite some concerns, Americans overwhelmingly like Daylight Saving Time. There is simply more sunlight in the evenings to enjoy the outdoors and get things done. Plus, additional hours of daylight can help save energy on a national scale — as much as 100,000 barrels of oil per day according to some estimates.

And brighter is safer. Studies have shown that the DST shift reduces traffic accidents. Additionally, a study by the US Law Enforcement Administration also determined that crime is consistently lower during DST, with violent crimes down as much as 10% to 13%. For many crimes, like mugging, darkness is a factor — so more light in the evening hours reduces these types of crimes.

Cons of Daylight Saving Time
Not everyone benefits from DST. For example, many farmers say that DST has a negative impact on their livestock’s natural schedules. The airline industry also reports that it costs millions of dollars to adjust time schedules — and even then, airlines report numerous problems with international flight connections during the transition time since DST isn’t followed uniformly worldwide.

Finally, since many electronic devices and computer programs are set to adjust to DST based on the old dates, they may not change automatically on March 8. So, you’ll want to double-check all of your devices and confirm that the time is correct.

Compliments of Cherry Creek Mortgage

Limited Tax Credits Available to New-Home Buyers

2009-02-27T16:28:00.000-08:00

Senate Bill 15 was approved by the Governor on February 20, 2009, and provides for a tax credit against the net tax for a taxpayer who purchases a qualified principal residence on or after March 1, 2009, and before March 1, 2010. The maximum amount of credits available to allocate is $100,000,000.00 (one hundred million dollars) and are available on a first come first serve basis.

The following qualifications and limitations apply:

Ø The qualified principal residence is a single family residence, whether detached or attached, that has never been occupied

Ø Allowed for the purchase of one qualified principal residence per taxpayer

Ø Must be occupied for at least two years immediately after the purchase and is eligible for the homeowners property tax exemption

Ø The credit is the lesser of 5% of the purchase price of the qualified principal residence or $10,000.00 (ten thousand dollars). The credit must be claimed in equal amounts over three consecutive tax years beginning with the tax year the purchase is made

Ø The seller must provide a certification to the taxpayer and the Franchise Tax Board within one week of the sale that the qualified principal residence has never been occupied. Upon certification, the Franchise Tax Board will allocate the credit to the taxpayer on a first come, first serve basis.

Ø To claim the credit, the taxpayer will submit with each tax return the certification by the seller.

Federal Foreclosure Prevention Plan Launched

2009-02-23T15:22:00.000-08:00

On Wednesday, Feb. 18, President Obama unveiled a major new foreclosure prevention program - the Homeowner Affordability and Stability Plan (HASP). The multi-billion dollar effort is based on three strategies:

Foreclosure prevention by refinancing mortgages held by Fannie Mae and Freddie Mac: The goal is to protect those homeowners with homes that have lost significant value to the extent they are unable to refinance under the current Fannie and Freddie rules. As part of the HASP, Fannie and Freddie will change their policies regarding the amount of equity a borrower must have in their home in order for them to refinance into a mortgage with a lower interest rate.

Homeowners able to refinance their mortgages under these new rules could end up with a lower mortgage payment. In situations where a borrower has lost their job or is experiencing other financial difficulties, the lower payment could prevent them from becoming delinquent on their payments and help them avoid foreclosure.

Homeowner Stability Initiative: This part of the plan will provide a variety of incentives to lenders to keep "at risk" borrowers out of foreclosure. In exchange for federal assistance, lenders will either reduce interest rates or principal amounts in order to also reduce a borrower's payment.

Additional support for Fannie Mae and Freddie Mac: Stabilizing and supporting the two major players in the secondary mortgage market is key to the security of residential real estate. The Treasury Department will take several steps to ensure the viability of Fannie Mae and Freddie Mac, including providing $200 billion to each and purchasing mortgage-backed securities. These actions are anticipated to boost investor confidence in both GSEs and ensure lower interest rates for mortgages purchased by Fannie Mae and Freddie Mac.

For more details about the Homeowner Affordability and Stability Plan, please click here.

President Signs Stimulus Bill

2009-02-17T20:45:00.000-08:00

Last week Congress passed the American Recovery and Reinvestment Act of 2009. President Obama has signed the bill today. Among other things, the stimulus legislation resets the conforming loan limit cap at $729,750, up from $625,500 and reinstates these 2008 loan limits through Dec. 31, 2009.

The bill also increases the first-time home buyer credit from $7,500 to $8,000, and removes the requirement that the credit be paid back if the buyer stays in the home for at least three years. It also extends the expiration date for the credit from July 1 to Dec. 1, 2009. Homebuyers must have purchased a home after Jan. 1, 2009, and before Dec. 1, 2009, to be eligible for the $8,000 credit.

Thank you to everyone who contacted their Member of Congress in support of the housing provisions contained in this legislation.

State Budget Negotiations Continue ~ As of this time, the California state Senate is still debating an emergency measure to address the state's ever-growing budget deficit. C.A.R. will keep you posted on the budget's possible impact on your business and the real estate market.

Septic Regulation Update ~ The State Water Board (SWB) has extended its deadline for submitting testimony on the currently proposed regulations of septic systems to February 23rd. C.A.R. is deeply troubled by several items contained in these proposals and understands that due to public outcry, the proposals will probably be revised. However, there is still a danger that even the revised regulations may contain a point-of-sale provision. If you would like to submit testimony to the SWB, please click here for background and instructions.

Information compliments of the California Association of REALTORS®

Tips for a Larger Tax Refund

2009-02-16T19:35:00.000-08:00

No one ever wants to pay more taxes than necessary, but this year it's even more important to save every penny you can. Here are some tips that can help you get a larger refund:

Property Tax Deduction for Non-Itemizers: Before 2008, only people who itemized their deductions could deduct property taxes. For 2008, individuals who do not itemize can deduct up to $1,000 of property tax on a joint return or $500 on a single return.

Driving Deductions: The IRS increased the cents-per-mile deduction for business-related driving expenses from 50.5 cents to 58.5 cents from July 1, 2008 through December 31, 2008. They also increased the rate for deducting medical and moving driving-related expenses from 19 cents to 27 cents for that same time period.

Disaster Losses: Casualty losses (i.e. like those from storm or fire damage) are normally deductible only to the extent they exceed 10% of AGI. For 2008, casualties in federally declared disaster areas can be deducted without having to abide by the 10%-of-AGI rule, which raises the amount that is deductible.

Capital Losses: Review your portfolio and note all your realized losses for 2008. You can write these off against capital gains and you can have a net loss of up to $3,000 deductible against your salary and other ordinary income. What's more, any excess can be used to offset gains or can be deducted in 2009 or later years.

Retirement Plan Contributions: You can make tax-saving contributions to retirement plans for 2008 through April 15, 2009.

Charitable Donations: Not only can you claim deductions for money and items you donate to a charity, you can also claim deductions for expenses you incur on a charity's behalf (i.e. driving costs, printing costs, long distance phone call costs, etc.).

Make sure you take time to go through your records carefully so you receive the biggest refund possible. And if you are looking for a great tax professional to help you, please let me know and I'll be happy to recommend someone.

Information compliments of Diversified Capitol Mortgage

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Winter Weather Preparations

2009-02-01T18:02:00.000-08:00

We may actually get some rain this winter. To be prepared, we suggest that you have your gutters cleaned. Also, be sure to clean the areasaround your skylights and chimneys. Leaves tend to gather in these areas,which leads to pooled water leaking into the house past the flashings. Over the years, we have also had problems with our sunken living roomsflooding. This is caused by improper surface drainage. Sometimes thes urface drains become blocked, causing rain runoff to gather around thefoundation. Other causes include re-landscaping, which can inadvertently lead to water running toward the foundation.

We suggest that you walk the perimeter of your house during a downpour.Look for backed-up surface drains and water pooling around yourfoundation. Also check for malfunctioning (blocked, broken, leaking)downspouts. As always, if you decide to clean your own gutters, please be ladder safe.

Considering Moving to the East Bay? ~ Do you want to Buy or Sell a home?

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Protect Your Credit During the Holiday Season

2008-11-29T11:16:00.000-08:00

With the economy slowing and holidays just around the corner, many consumers may be looking to credit cards to help them get through the heavy shopping season. While that may be a good short-term solution, you want to make sure you don't overlook the long-term impact on your credit rating. After all, the actions you take today could hang over your head for years to come--and may make it tough for you to get the home loan or car loan you want in the future.

To help you make sure you manage your credit cards--and your credit score--during the upcoming holiday spending season, follow these steps:

Double-check your card limits. Many credit card companies today have started lowering credit limits. That means you have less credit available, but it also may mean that your credit score is about to take a hit. That's because approximately 30% of your credit score is based on the amount you owe in relation to your available credit. So, if a credit card company cuts back your limit, you may find that you're suddenly almost maxed out. That's not a good sign for your long-term credit score rating.

Ask, pay down, or move around. If some of your credit limits have changed or are nearly maxed out, you can take a few steps to help alleviate the problem. First, consider simply asking for a higher limit to your card...not necessarily to use up with spending, but to allow more unused credit line to be available and therefore boost your credit score. You can also pay more money to the cards that are near the credit limit, if you can. Or, if you have cards with little to no remaining credit line, transfer some of the larger balances onto the cards with lower balances. That'll give you a more... well... balanced financial picture.

Leave home without it. One of the best tips for the holiday season is to: make a budget, identify specific items, and then leave home without your credit card. Instead, bring just enough cash to purchase the items on your list. That will help you resist the urge to impulse buy, and keep your credit card balances lower.

Pick a card... not just any card. If you can't bring cash, make a credit card plan. Identify specific items that you'll pay for on specific cards. By making a plan and spreading your purchases to different cards, you won't overspend and you won't risk running up one or two cards that are near the credit limit, which will hurt your credit rating.

Resist card offers at the counter. Retailers are famous for offering "savings" when you open a credit card. But those savings often don't outweigh the long- and short-term negatives. For one thing, opening a new account--or multiple accounts in a short period of time--can negatively impact your credit score. In addition, consumers often spend more than planned when a new card is suddenly available. So this holiday season, resist the temptation.

Stay active. If you have older cards that you don't use, make sure you keep them active. For one thing, some of those older cards help establish a longer history of positive credit. For another, the available credit on those older cards can help keep your credit score higher because it improves your overall debt-to-credit ratio. To keep those cards active, make sure you charge one or two items on them throughout the year... like, say, when you go shopping for the holidays. Then, pay them off when the bill comes in.

Always pay on time. Your payment record is a very large part of your credit score, so it's crucial that you have an idea how your holiday shopping will impact your credit card bills and that you make a plan to pay those bills on time. If you have trouble for any reason, contact your card companies right away to work out a plan that helps you pay down your debt... and save your credit rating from a huge hit.

Information compliments of Wendy Tannenbaum

Fighting Medicare Claim Denials

2008-11-01T16:31:00.000-07:00

When an insurance company denies a claim in whole or in part, it is possible to appeal their decision. The same is true with Medicare claims...and in fact more than half of Medicare appeals are successful. If you, a family member, or a friend have had a Medicare claim denied, the following information can help you successfully appeal the decision:

Time Frame: If your Medicare claim is denied for less than the full amount, you can ask for a "redetermination" but you must do so within 120 days. Download the Medicare Redetermination Request form at http://www.cms.hhs.gov/cmsforms/downloads/cms20027.pdf, or call 800-633-4227 to receive a copy.

Common Denials: The denial you received will include an explanation, which you will need to contest in your appeal. Ask your doctor to write a letter addressing the reasons in the denial and include this letter with your appeals form.

Common denials include:
The treatment, prescription, or medical service is unlikely to cause your health condition to improve: Fight this by having your doctor write a letter explaining why the care is necessary. Medicare is required to look at your total condition, not just your chance for a full or partial recovery.

You are likely to require care for a very long time: Medicare coverage is not limited to treatments that work quickly, so ask your doctor to write a letter explaining that the treatment is making some positive difference or is expected to.

The prescription dosage level is greater than what is normally prescribed, or the drug prescribed is not normally prescribed for your health problem: Have your doctor write a letter explaining why the unusual drug or dosage is medically necessary. For instance, you may be allergic to the medicine normally prescribed.

You do not qualify for Medicare-covered home care because you are not homebound: Under Medicare rules, homebound does not mean that you are completely unable to leave your home or that you are confined to a bed. It does mean that you require assistance and that it takes considerable effort for you to leave your home. Ask your doctor to write a letter describing in detail how difficult it is for you to leave your home.

Be Persistent: If your first appeal is denied, you can file as many as four more appeals. And the more appeals you file, the greater your odds of success. While your first appeal is made to the same group that denied your initial claim, subsequent appeals are made to independent arbiters.

For more information, visit www.medicareadvocacy.org

Medical Identity Theft

2008-10-27T07:40:00.000-07:00

With identity theft on the rise these days, most of us are already taking steps to protect ourselves. But did you know that there's now a growing form of identity theft known as "medical identity theft" that can not only devastate victims' finances, but also compromise their health, too. According to Joy Pritts, JD, author of Your Medical Record Rights, here's what you need to know.

What is Medical Identity Theft? Medical identity theft occurs when criminals access victims' medical records. Since medical records contain a person's social security number and credit card information (if bills have been paid via credit card), criminals can open accounts and make fraudulent charges. However, criminals also gain access to victims' health insurance policy information and medical histories, and they can create forged health insurance cards to sell to people who are uninsured and need expensive medical treatment. A person who buys a fake health insurance ID card would then seek treatment using the victim's name and policy number, and then disappear, leaving the victim with the bills to pay.

Why Should You Be Concerned? Victims of medical identity theft not only have to repair their credit and convince credit agencies and service providers that bills are fraudulent, they also have to correct inaccurate medical information that becomes part of their health records. Victims could be denied life insurance or individual health insurance if their record shows treatments that they did not have. In addition, victims could receive treatments or medicines that could be harmful to them on the basis of inaccurate content in their medical records.

Steps to Take if You Suspect a Medical Identity Theft
1. Read all bills and "Explanation of Benefits" statements from your insurance company to verify they are for treatment you received.
2. If a bill or statement refers to treatment you did not receive, contact the employee in charge of investigating fraud at your insurance company and at the medical facility involved and explain the situation. Follow up with a letter sent via registered mail with return receipt once again explaining the situation, asking for any bills to be voided, and asking that your medical record be amended to state that you did not have this health problem or receive this treatment.
3. Report the identity theft to the police department and state's attorney general's office.
4. Contact the health care providers you use, explain the situation, ask if the erroneous information has been added to the providers' records, and if so, ask them to correct the records.
5. Report the fraud to the major credit bureaus and set up fraud alerts. Also, request free copies of your credit reports to make sure no new fraudulent accounts have been opened. * 6. Review your medical records every few years to make sure there are no errors.

To learn more about your medical record rights, visit http://ihcrp.georgetown.edu/privacy/records.html.

Turning Back the Hands of Time

2008-10-27T07:35:00.000-07:00

The sun is about to set on another season of Daylight Saving Time. In case you hadn't noticed, Daylight Saving Time (DST) began earlier last spring and ran longer into this fall. But, alas, all good things must come to an end...and this year Daylight Saving Time ends Sunday, November 2nd.

The extra month that we enjoyed was actually the result of the Energy Policy Act, which was enacted by Congress back in 2005 and first went into effect last year. Originally, the bill was written to extend Daylight Saving by two months, but some very verbal opponents fought the change. Farmers say that DST has a negative impact on their livestock in general--as it is tough for them to adapt to the time change, and they consequently produce less milk, eggs, etc. Because DST is not followed uniformly around the world, airlines claim that it might mean many missed international flight connections. Additionally, TV and Cable stations argued that they would lose viewers and advertising revenue, simply due to less time spent in front of the television because of more time spent outdoors in daylight.

So a compromise of one additional month of DST was reached. However, Congress did retain the right to revert back to the old dates if the change proves to be widely unpopular, or if the energy savings aren't significant.

Why is Daylight Saving Time Longer?
Despite the concerns listed above, Americans overwhelmingly like Daylight Saving Time. There is simply more sunlight in the evenings to enjoy the outdoors and get things done. Additionally, there may be emotional benefits, as we typically feel better with more daylight.
Plus, additional hours of daylight can help save energy on a national scale. Less electricity is needed, as fewer lights are turned on as early in the evening...and with energy costs so high, even a small amount of savings is very welcome.

And brighter is safer - studies have shown that the DST shift reduces traffic accidents. An increase in accidents in the dark mornings is more than offset by the evening decrease in accidents, due to the increased visibility gained with more sunlight. Halloween is also arguably safer. Child pedestrian deaths are four times higher on Halloween than any other night of the year. By extending Daylight Saving Time, however, trick-or-treaters are able to spend an extra hour gathering treats while it's still light out. Candy manufacturers are happy too, as they've lobbied for years to have DST extended through Halloween.

A study by the US Law Enforcement Admin also determined that crime is consistently lower during DST, with violent crimes down as much as 10% to 13%. For many crimes, like mugging, darkness is a factor--so more light in the evening hours reduces these types of crimes.
Falling Back... Manually

Since DST has been extended, you'll want to double-check all of your electronic devices and confirm that the time is correct. Although you may be accustomed to your computer and maybe even your digital clock in your car automatically updating, the recent change of dates for Daylight Saving Time may require that these devices be manually changed, as they now may NOT be ready to update to the correct time on the correct date!

So keep an eye on your electronic devices and remember to change your clocks on Sunday, November 2nd as we turn back the hands of time once again!

2008-07-30T09:49:00.000-07:00

I really keep trying to do this "green thing" and as I am finding out there are so many little things we can do to be just a bit greener. Here are some thing I found this week.

Bring your own mug ~ Each year, Americans discard more than 14 billion paper cups. For instance, that Styrofoam cup you use at your office meeting will linger nine generations before decomposing. Instead, bring a ceramic cup. Same goes for your daily Starbucks or Coffee Bean brew: consider bringing your own cup.

Car pool. Connect with other commuters at eRideShare.
If you use plastic grocery bags, recycle them for doggie poop bags or for small trash can liners.

Buy compact fluorescent light bulbs. You'll find more on energy-efficient products and practices at Energy Star.

Lower your thermostat. Buy a programmable thermostat.

Go paperless. Consider reading your newspaper and magazine subscriptions online. Switch to electronic banking and credit card payment, too. I am now reading my daily paper online.

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Historic Housing Bill Signed by President

2008-07-30T09:38:00.000-07:00

This morning President Bush signed the "Housing and Economic Recovery Act of 2008." For the past several years, C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® have aggressively lobbied for Congress to pass numerous provisions found in this historic bill. Many of you participated in these efforts by communicating with your Members of Congress.

This federal housing bill is a significant move in the right direction for California homeowners. It will aid in stabilizing our economy and help stem foreclosures, while also providing support to first-time homeowners.

The legislation will assist an estimated 400,000 homeowners facing foreclosure, many of whom reside in California, by allowing them to refinance their current mortgages with a Federal Housing Administration (FHA)-backed loan. The bill also will permanently increase FHA, Fannie Mae, and Freddie Mac loan limits in high-cost areas.

The bill permanently increases the conforming loan limit to $625,500. C.A.R. has long advocated for higher conforming loan limits. In February, the Economic Stimulus Act of 2008 was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 from $417,000 until December 31, 2008.

Although we would have liked Congress to make permanent the current $729,750 loan limit, C.A.R. is pleased with the new permanent loan limit of $625,500. It will allow California homeowners to refinance their loans into safe affordable loan products and allow first-time home buyers to enter the market.

The new loan limits for Fannie Mae and Freddie Mac are the greater of either $417,000 or 115 percent of an area’s median home price, up to $625,500. The new FHA loan limit will be the greater of $271,050 or 115 percent of an area’s median home price, up to $625,500. Both new loan limits will be effective at the expiration of the economic stimulus limits on December 31, 2008.

C.A.R. also supports the following bill provisions:
1. A temporary increase in mortgage revenue bonds to refinance subprime mortgages.
2. New regulator for Government Sponsored Enterprises to restore investor confidence in GSE loans and help the market and economy stabilize.
3. First-time home buyer tax credit, which allows first-time home buyers to receive a tax refund worth up to 10 percent of a home’s purchase price, up to a maximum of $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years.
4. Temporary raise in the loan limit for the Veterans Affairs home loan guarantee program to the same level as the economic stimulus limits until the end of 2008.
5. Adjustment to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), allowing sellers to provide the non-foreign affidavit to a qualified closing entity and not just the buyer.
6. The setting of minimum requirements for mortgage originators, which mandates fingerprinting of loan originators and establishes a nationwide loan originator licensing and registration system. The requirements do not apply to those only performing real estate brokerage activities unless they are compensated by a lender, mortgage broker, or other loan originator. States will have the ability to implement more stringent laws. 7. The creation of a National Affordable Housing Trust Fund to help cover the cost of the FHA rescue plan for the first five years and develop affordable housing in subsequent years.

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What's Your Mother's Maiden Name?

2008-07-19T16:29:00.000-07:00

What's up with your mother's maiden name? Passwords are crucial to accessing your personal accounts and information. The problem is: We all have so many accounts that we worry more about remembering our passwords than we do about making sure they actually protect our data from hackers. So we end up using passwords like our mother's maiden name or child's first name. But even if you add a few numbers to the end, those types of passwords are easy to break. And that means your data isn't safe.

The tips below can help you avoid the most common password pitfalls and even implement a few new ideas that will make your passwords easy to remember...and hard to break!

Strength Training ~ A well-protected password is not only unique, but also hard to guess. How do you do that? It's pretty simple really. Just follow this advice:
Use a random string of characters. That means no sequential letters or numbers. None.
Make it looooong. The longer the better--even up to as many as 10 to 14 characters.
Switch things up. Use a combination of upper and lower case letters, along with a few numbers mixed in the middle or end.

Don't use substitutes. Using "@" for "a" or "1" for "I" may look good to you, but most hackers are smart enough to break those substitutes rather quickly.

Avoid easy targets like words straight out of the dictionary or things like family names and birthdays.
Multiplication Facts ~ Most of us cheat when it comes to passwords. We have trouble remembering our passwords, so we come up with two or three that we can remember and use them everywhere. But you should avoid the temptation. The fact is, once a password is compromised, all of your accounts are vulnerable. There's no way around it, you need to a way to create and remember multiple passwords--a different one for each account!

Sure-Fire Technique for Memorable, Unique Passwords ~ For all the advice above, good passwords come down to two things: they're easy for you to remember, and they're hard to break. Implementing the tips above can make your passwords hard to break, but what about remembering them--especially if you have a unique password for every account?

Here's a sure-fire tip to help!
1. Think up a phrase. Instead of a common word or family member name, think up a unique phrase that only you know. For example, you may think up something off the wall such as "I Like Short Hair Too."
2. Make it an acronym. In our example, "I Like Short Hair Too" would become ILSHT.
3. Add Complexity. Remember those substitutes you're not supposed to use with dictionary words? Well, you CAN use them with your acronym. For example, "I Like Short Hair Too" can become "1 Like $hort Hair 2" which makes: 1L$H2. You can also use upper and lower letters to make it 1L$h2. The point is to be creative, but in a way that you can easily remember it.
4. Make it unique. A password is only really unique if you use it for one account and one account only. So you can't just use 1L$h2 for every account. And, in reality it's still too short. Here's the key to the whole process: Mix in additional letters and numbers that are unique to each account. For example, if you're logging into a "gmail account" you can use the "gm" and "@cct" (for acct) to make: 1L$h2gM@cct. Then, for a Netflix account, you may use: 1L$h2Nf@cct.

Of course, these are just examples. You'll want to be creative and think up your own acronym and ways to add unique characters for each account. And then keep that little secret to yourself so no one will be able to guess your account passwords.

Follow these simple steps and you'll have passwords that are tough to break, unique to every account, and easy to remember!

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Great News for Buyers as Entry Level Housing Affordability Rises!

2008-07-09T06:52:00.000-07:00

The percentage of households that could afford to buy an entry-level home in California is up at 44 percent in the first quarter of 2008, compared with 26 percent for the same period a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS®. This is great news for move up buyers as well as first time buyers looking to take advantage of the low interest rates.

First-time buyers typically purchase a home equal to 85 percent of the prevailing median price. The monthly payment including taxes and insurance was $2,260for the first quarter of 2008. The minimum income required with 10 % down would be approx. $67,000.

Interest rates are low, inventory is high and it is a great time to get into the market and start to increase your personal wealth.

For detailed information you can view the article in it's entirity at the C.A.R. website.

Considering Moving to the East Bay? ~ Do you want to Buy or Sell a home?
Do you have clients with needs in the East Bay?
Please give me a call if you have questions about the East Bay Real Estate market.
I can be reached at 925 824-4878 or Toll Free 877 876-8889 or you can visit my website at http://pamwinterbauer.com

Ever wonder what these words really mean?

2008-07-09T06:40:00.000-07:00

In today's market there are an abundance of properties for sale. Some of these properties are being sold by sellers; some are short sales, REO/bank owned and pre-foreclosures. Here is a list the definitions of each and what it means to you as a buyer and the choices you make when looking at homes.

• Regular Sale ~ a sale where the seller has equity in the property, the buyer and seller will the negotiate price and terms of the sale. The seller is required to provide Transfer Disclosures according to California Law and statute. There is sense of urgency with the seller to negotiate and move on.

• Short Sale ~ a short sale is the sale of real property where the fair market sale price is less than the loan(s) on the property. A short sale means the seller's lender is accepting a less than the existing loans on the property. Just because a property is listed with short "sale terms" does not mean the lender will accept your offer, even if the seller accepts it. Many of these properties have been trashed, are in ill repair and are sold their present "as is" condition (what you see is what your get) without any repairs to the property. The property may not meet your lenders standards to obtain your loan. There is not much flexibility and room to negotiate price.

If there are two loans, there could be a problem. The first mortgage lender's position is protected by the second lender, unless the second lender does not want to foreclose. The first lender will need to give something to the second to gain cooperation.
The process for lender approval can take as long as 5 months. There is no guarantee the lender will approve of the sale. Statistics show over the last six months that only 20 % of these sales have closed.

• REO/Bank Owned Property ~ REO is an acronym for a real estate owned property that has been foreclosed on or repossessed by banks or lenders. These properties are sold in "as is" condition (what you see is what you get) without any repairs or warranties, in ill repair and some have been trashed. There are no disclosures on the property. The property may not meet your lenders standards in obtaining your loan. Not much flexibility and room to negotiate price. The process for bank approval can be anywhere from 3 - 10 days.

• Pre-Foreclosure Property ~ a property where the homeowner has fallen behind in their payments or when a Notice of Default (NOD) has been filed against the property by the lender. May not have much flexibility in negotiating. These properties may be regular sales or potential Short Sales.

• Auctions ~ Many properties that have been turned over to auction houses have been bank owned properties that did not sell or in some instances they can be builder closeouts. The condition varies depending where the property came from. When the auction is all said and done there is a 5-10% fee paid to the auction house in addition to the find bid price. These properties are all "as is" sales without inspections or warranties and may not meet your lender's standards in obtaining your loan.

• New Construction ~ Most builders are cooperating with your Realtor in today's market. It is important to take your Realtor accompany you on the 1st visit to the new development to register you. Your Realtor will represent you in the negotiation process so you obtain the best price and builder upgrades for your price.

(Copyright © 2008 By Pam Winterbuaer All Rights Reserved.)

Come Celebrate the 4th of July and San Ramon's 25th Anniversary!

2008-07-03T20:27:00.000-07:00

Tomorrow is the 4th of July and it's time to come out and celebrate with us the City's 25th Anniversary. Come one come all and celebrate tomorrow.

The

City of San Ramon celebrated its 25th anniversary of incorporation on July 1st, 2008. Twenty-five years ago, the voters of the then sleepy village of San Ramon voted to incorporate effective July 1st, 1983. The entire community will celebrate with an anniversary party at the City's Star Spangled Spectacular tomorrow at Central Park. Attendees will enjoy a special edition fireworks display along with music, food and fun in the park.

The resulting impacts of the hard work and dedication of our "pioneers" of incorporation are most evident today as our beautiful City has evolved into one of the best places to live and work in America. From the beautiful landscaping that is along virtually every major roadway to our over 50 wonderful parks, our own citizen serving police department, two outstanding libraries, the best schools in California, community sporting facilities that are "world class," our City enjoys a quality of life that is the envy of communities across California and beyond.
Celebrate San Ramon!

Run San Ramon July 4, 2008 ~ 3K Fun Walk ~ 5K Run/Walk & 10K Run

Race Day Registration Begins at 6:30 a.m.8:15 a.m. 10K Start 8:20 a.m. 5K, 3K Start

San Ramon Central Park - 12501 Alcosta Blvd

>>Click Here for More Information

Star Spangled Spectacular San Ramon Central Park - 12501 Alcosta Blvd 5pm - 10pm

Enjoy music, food by local non-profit and a tribute to San Ramon's 25th Anniversary! Fireworks start at approximately 9:30pm Music available on 101.7 fm KKIQ

What you need to know about the market

2008-06-26T19:34:00.000-07:00

The economic downturn is causing some Baby Boomers to downsize or postpone retirement, but they still are in no hurry to pay off their mortgages, according to the annual “Affluent Boomers at 60” survey from Oaklandbased Bell Investment Advisors. Historically, most seniors paid off their mortgage before retiring. Not so today. More than 55 percent of those surveyed who currently hold a mortgage don’t intend to pay off their loan until their 70s, if then. That could change if the economy worsens or the slowdown is prolonged. One in four Baby boomers already are changing their retirement plans and 40 percent are “downsizing” their lifestyles. More than one quarter (28 percent) have lost a job in recent months or know someone over age 60 who has. As a result, 22 percent say they are cutting down on charitable contributions, 21 percent are changing vacation plans, 18 percent are reducing the amount they are saving, and 11 percent are postponing retirement entirely. Sixty-nine percent say the economy is causing them to change to a more conservative investment strategy. The survey included equal numbers of men and women born in 1948, all of whom reported investable assets of $1 million or more.

The rapid rise in gas prices is causing similar lifestyle changes on America’s highways and byways, particularly those leading to and from the suburbs. The U.S. Dept. of Transportation reported that American drivers reduced the number of miles they drove in March by 4.3 percent over the same month a year ago. Now, Coldwell Banker says 81 percent of the agents it surveyed said their clients increasingly are looking to urban housing as a way to cut commuting costs. A third study by CEOs for Cities, a government-business coalition, said higher gasoline prices will push new housing developments closer to the urban core in many U.S. cities and cause home values to decline in those suburbs where there are few transit options for commuters.

The percentage of American households headed by homeowners experienced its most significant decline in two decades at the end of the first quarter of 2008, according to the U.S. Census Bureau. Only 67.9 percent of households were headed by homeowners, down from a record 69.1 percent achieved in 2005. Renter households increased from 30.9 percent to 32.2 percent, erasing gains achieved in recent years. The jump in renter households was not unexpected: it simply happened far faster than anticipated. The Joint Center for Housing at Harvard University projected the number of renters would increase by 1.8 million between 2005 and 2015. Instead, the housing market decline and subsequent dramatic rise in foreclosures pushed 1.5 million additional households into rental housing between 2005 and 2007 alone. Not surprisingly, rents have increased by about 11 percent and vacancy rates have fallen in many urban markets over the same period.

Compliments of the California Association of Realtors

Office Closed ~ Windermere Community Service Day

2008-06-20T22:29:00.000-07:00

Today was Windermere's Community Service Day. Every Windermere office closes on the third Friday in June in the 13 States to give back to the Communities we work and serve in.

Our office volunteered to work at Shephard's Gate an emergency shelter for homeless women and children, while committing to change their lives.

We had a testimonial from a 41 year old woman who was raped at 14 and hit the drug trail shortly there after. She has turned her life around since arriving at Shephard's Gate just 10 months ago.

We painted, cleaned, repaired fences and play structures getting ready for the reopening of one of their residance halls on July 1st.

During our lunch break we were move by the stories of the residents and we felt blessed to be a part of giving back to the community.

Considering moving to the East Bay? Do you want to Buy or Sell a home?

Do you have clients with needs in the East Bay?

Contact Pam Winterbauer, 2006 REALTOR® of the Year

Broker Associate, ASR, CRS, e-PRO, GRI, PMN, SRES, At Home with Diversity Certified

Windermere Welcome Home

Please contact Pam Winterbauer for all of your real estate needs in the East Bay

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Summertime Food Safety Tips

2008-06-15T13:49:00.000-07:00

Summer-time is one of the best times of year to enjoy fresh fruits and vegetables, especially those that aren't available year-round. Recent salmonella outbreaks like those in last year's spinach crops or this year's tomato crops are an important reminder about handling food properly.

The Centers for Disease Control (CDC) notes that there is no way for consumers to detect salmonella since it can't be smelled, tasted, or seen. Here's what they recommend to reduce the risk of exposure during this latest outbreak:

Check the Type ~ Since April 16, more than 220 people from twenty-three states have contracted salmonella poisoning from tainted tomatoes. As a result, the Food and Drug Administration (FDA) is advising people to eat only cherry tomatoes, grape tomatoes, tomatoes sold with the vine still attached, and tomatoes grown at home since these tomatoes are not associated with the outbreak.

If you have raw red plum, Roma, or round red tomatoes, which are the tomatoes associated with the outbreak according to preliminary data compiled by the FDA, the best thing to do is either throw them away or return them to the store where you purchased them.

Wash, Wash, Wash ~ One of the best ways to protect yourself is to wash all produce, including organic produce, with cold running water. You should scrub your produce gently with a vegetable brush, or you can use your hands if you don't have a brush. Make sure you remove outer layers of cabbage and lettuce. And make sure you wash fruit, too, even if you don't eat the peel.

In addition, wash your hands with soap and water before handling food and also wash cutting boards, counters, and utensils to avoid cross-contamination. When you are preparing fresh vegetables, make sure you avoid any kind of contact with raw meat. And don't forget to refrigerate sliced up fruits and vegetables.

Ask Your Waiter ~ If you eat out, ask your waiter what the restaurant has done in response to the outbreak. Several restaurants...including chains McDonalds, Burger King, and Taco Bell, among others...have stopped serving tomatoes, but it's always wise to double check. Keep in mind that ketchup and cooked sauces are not affected since cooking tomatoes at 145 degrees kills salmonella. Don't hesitate to ask your waiter to leave tomatoes off a sandwich or salad if the restaurant hasn't removed tomatoes from its menu. Note that if you remove the tomatoes once your order comes, the food could still be contaminated.

Make the Call ~ Salmonella poisoning typically resembles the flu, and symptoms usually appear 12 to 72 hours after infection and include abdominal cramps, headache, fever, diarrhea, nausea, and vomiting. If you suspect that you've contracted a case of salmonella poisoning, call your local health department. Reported cases help the CDC and FDA track the source of salmonella.

For the latest information on the tomato salmonella outbreak, visit:
FDA: Link to FDA Information CDC: Link to CDC Information

Oh Nehemiah, what verse were you?

2008-06-12T16:09:00.000-07:00

Can this be the same Nehemiah? Well let's see.

Buyers in todays market are looking for good solid financing that is close to 100% and provides help with downpayment and closing costs. Here is your Nehemiah!

Guidelines for this Nehemiah: This is a grant program that provides gift funds for downpayment and closing costs to qualified homebuyers.

The seller contributes 6% to the Nehemiah Program. The program grants up to 3% for down payment and 3% for closing costs. The cost of the program at closing is $599.00 to Nehemiah. Nehemiah does not underwrite the package. FHA 1st loan and underwriting guidelines. Propeprty must appraise, value to include 6%. Some lenders cap price if using program (wells 417K). Increasing value 6% over list price and lender will scrutinize appraisal.

Sounds like the best thing since sliced bread and subprime loans?

Are you safe? NOT

2008-04-29T20:55:00.000-07:00

Tips To Keep Women Safe!!

1. Tip from Tae Kwon Do: The elbow is the strongest point on your body. If you are close enough to use it, do!

2. Learned this from a tourist guide in New Orleans. If a robber asks for your wallet and/or purse, DO NOT HAND IT TO HIM . Toss it away from you....chances are that he is more interested in your wallet and/or purse than you, and he will go for the wallet/purse. RUN LIKE MAD IN THE OTHER DIRECTION!

3. If you are ever thrown into the trunk of a car, kick out the back tail lights and stick your arm out the hole and start waving like crazy. The driver won't see you, but everybody else will. This has saved lives.

4. Women have a tendency to get into their cars after shopping, eating, working, etc., and just sit (doing their checkbook, or making a list, etc. DON'T DO THIS!) The predator will be watching you, and this is the perfect opportunity for him to get in on the passenger side, put a gun to your head, and tell you where to go. AS SOON AS YOU GET INTO YOUR CAR, LOCK THE DOORS AND LEAVE.a. If someone is in the car with a gun to your head DO NOT DRIVE OFF, repeat: DO NOT DRIVE OFF! Instead gun the engine and speed into anything, wrecking the car. Your Air Bag will save you. If the person is in the back seat they will get the worst of it. As soon as the car crashes bail out and run. It is better than having them find your body in a remote location.

5. A few notes about getting into your car in a parking lot, or parking garage:

a.) Be aware: look around you, look into your car, at the passenger side floor, and in the back seat.

b.) If you are parked next to a big van, enter your car from the passenger door. Most serial killers attack their victims by pulling them into their vans while the women are attempting to get into their cars.

c.) Look at the car parked on the driver's side of your vehicle, and the passenger side. If a male is sitting alone in the seat nearest your car, you may want to walk back into the mall, or work, and get a guard/policeman to walk you back out.IT IS ALWAYS BETTER TO BE SAFE THAN SORRY. (And better paranoid than dead.)

6. ALWAYS take the elevator instead of the stairs. (Stairwells are horrible places to be alone and the perfect crime spot. This is especially true at NIGHT!)7. If the predator has a gun and you are not under his control, ALWAYS RUN! The predator will only hit you (a running target) 4 in 100 times; And even then, it most likely WILL NOT be a vital organ. RUN, Preferably ! in a zig -zag pattern!

8. As women, we are always trying to be sympathetic: STOP . It may get you raped, or killed. Ted Bundy, the serial killer, was a good-looking, well educated man, who ALWAYS played on the sympathies of unsuspecting women. He walked with a cane, or a limp, and often asked "for help" into his vehicle or with his vehicle, which is when he abducted his next victim.

9. Another Safety Point: Someone just told me that her friend heard a crying baby on her porch the night before last, and she called the police because it was late and she thought it was weird. The police told her "Whatever you do, DO NOT open the door.

"The lady then said that it sounded like the baby had crawled near a window, and she was worried that it would crawl to the street and get run over. The policeman said, "We already have a unit on the way, whatever you do, DO NOT open the door." He told her that they think a serial killer has a baby's cry recorded and uses it to coax women out of their homes thinking that someone dropped off a baby. He said they have not verified it, but have had several calls by women saying that they hear baby's cries outside their doors when they're home alone at night.

Internet cafe words et al..................

2008-04-18T16:02:00.000-07:00

Internet Word of the Day - googlonymous: \gōō'gəl-on-uh-mus\ - A nickname for using a proxy server to search Google anonymously.Many people don't realize that when you do a search on Google, your IP address, the time, and the keywords you entered are stored in their database permanently.

Did you know?
Kilobyte, which can be abbreviated as KB or kbyte, is a unit of measurement equivalent to one thousand bytes of computer memory or disk capacity. For example, a device that has 256k of memory can store approximately 256,000 bytes (or characters) at one time. In decimal systems, kilo stands for 1,000, but the computer world is based on a binary system of twos instead of tens.

So, a kilobyte is actually 1,024 (210) bytes. To distinguish between a decimal K (1,000) and a binary K (1,024), the Institute of Electronics Engineers, IEEE, has suggested using a small k for a decimal kilo and a capital K for a binary kilo. In international English, outside the U.S.A., the equivalent unit is sometimes seen as "KB" or "kbyte." Note: Kb is kilobit, KB is kilobyte

Looming deficit impedes federal housing agency

2008-04-17T20:51:00.000-07:00

As the president and Congress propose extending the benefits of Federal Housing Administration (FHA) insurance to hundreds of thousands of homeowners in need of mortgage assistance, the FHA itself faces a deficit for the first time in its history due to problems with its seller-financed downpayment loan program. If these problems continue, the agency could face a $1.4 billion deficit by 2009

MAKING SENSE OF THE STORY FOR CONSUMERS

The seller-financed downpayment program today accounts for 35 percent of all FHA loans, up from 2 percent in 2000. Under the program, sellers cover the buyer’s downpayment and typically add it to the total cost being financed through a mortgage. These loans became more popular as homebuyers struggling to qualify for a home abandoned conventional FHA loans in favor of subprime mortgages. Between 2002 and 2006, the number of conventional home loans insured by the agency plunged from 1.3 million to about 314,000. Congress has been urged to take action to discontinue these loans, but opponents of such an action argue the program is necessary to help first-time buyers.
Despite worries about FHA’s future, since September the agency has helped more than 150,000 homeowners refinance their mortgages. The president hopes to increase that number to 400,000 by the end of the year, and Congress is considering legislation that would expand FHA programs to even greater numbers of Americans.
To read the full story, please click here: http://www.nytimes.com/2008/04/09/business/09fha.html?_r=3&th=&emc=th&pagewanted=print&oref=slogin&oref=slogin&oref=slogin

Bernanke, Greenspan agree cash arms firms for slump

2008-04-17T20:40:00.000-07:00

Corporate balance sheets of American businesses – other than banks – are in better shape today to face a recession than in previous economic contractions because they have banked some half a trillion dollars in cash, reduced short-term debt and slashed inventories, according to former Federal Reserve Chairman Alan Greenspace and current Fed Chairman Ben Bernanke. That means companies aren’t likely to be as reliant on beleaguered banks to fund their operations.

MAKING SENSE OF THE STORY FOR CONSUMERS

Since the last recession, disciplined companies have been rewarded with 20 consecutive quarters of double-digit growth in profits. S&P 500 companies alone have amassed about $615.5 billion in cash, compared with $352.4 billion prior to the 2001 downturn and $95.5 billion prior to the 1990-91 recession.
Debt as a percentage of net worth for non-bank companies was only 63 percent in the fourth quarter of 2007, compared with 93.6 percent in 1990-91.
Together, these figures indicate that companies may have to do less trimming of excess capacity and workers than they have done in recent recessions. Some companies are even expanding, albeit cautiously.
While these trends don’t ensure a rapid recovery if the country falls into a recession, it does position companies to ride out the storm.

To read the full story, please click here: http://www.bloomberg.com/apps/news?pid=20601109&sid=ao6RcBfOUJz8&refer=home

Housing market continues plunge

2008-04-17T20:26:00.000-07:00

Low-end houses slip; high-end ones stagnate

April 15 provides an annual reminder about the tax benefits of owning a home: Most people know that mortgage interest and property taxes are deductible in most cases, as is the interest paid when homeowners borrow against the equity in their home. What they may not realize is that the Tax Payer Relief Act of 1997 provides that owners who have lived in their home for more than two years don’t have to pay taxes on the first $250,000 of profits (if they are single) and $500,000 of profits (if the owners are married) when they sell the home.
Watch out for Generation Y prospects! The 2008 Swanepoel Trends Report notes that younger buyers represent a larger portion of the total home-buying population than ever before. Between 2003 and 2006, the percentage of under-30 homebuyers skyrocketed. Forty-two percent of the under-30 crowd reported owning a home, but what’s more surprising is that buyers under age 25 accounted for one-quarter of the home sales to this demographic group.
The economy has replaced transportation as the San Francisco Bay Region’s most pressing problem for only the ninth time in 28 years, according to an annual survey conducted in early March by the Bay Area Council. Twenty-two percent of residents surveyed ranked the economy first, 18 percent said transportation was the biggest issue, and 15 percent cited housing as the region’s greatest challenge in this year’s poll. The economy was last cited as the greatest issue in 2003, but only 7 percent of those surveyed in 2006 ranked it at the top of their list, reflecting the top-of-mind nature of the current mortgage credit and economic situations. Despite economic concerns, Bay Area residents were relatively optimistic: 59 percent said their financial situation would be about the same as last year, with 30 percent saying they expect to do even better this year. Only 13 percent said they expect to be worse off. And 74 percent rated their quality of life in the Bay Area “very well” or “going somewhat well.”

To read the full article go to: http://www.insidebayarea.com/sanmateocountytimes/localnews/ci_8861454

Some of Life's Stress Relievers

2008-04-13T14:15:00.000-07:00

Today's live can be a bit on the harried side at time....with work, play, family, economics et at. I was reading today and found these and I thought they were worth sharing.

Check these out and do as many as you can in an effort to reduce stress in your life.

1. Pray

2. Go to bed on time.

3. Get up on time so you can start the day unrushed.

4. Say No, to projects that won't fit into your time schedule, or that will compromise your mental health.

5. Delegate tasks to capable others.

6. Simplify and unclutter your life.

7. Less is more. (Although one is often not enough, two are often too many.)

8. Allow extra time to do things and to get to places.

9. Pace yourself. Spread out big changes and difficult projects over time; don't lump the hard things all together.

10. Take one day at a time.

11. Separate worries from concerns. If a situation is a concern, find out what God would have you to do and let go of the anxiety. If you can't do anything about a situation, forget it.

12. Live within your budget; don't use credit cards for ordinary purchases.

13. Have backups; an extra car key in your wallet, an extra house key buried in the garden, extra stamp s, etc.,

14. K.M.S. (Keep Mouth Shut). This single piece of advice can prevent an enormous amount of trouble.

15. Do something for the Kid in You everyday.

16. Carry a Bible with you to read while waiting in line.

17. Get enough exercise.
18. Eat right.

19. Get organized so everything has its place.

20. Listen to a tape while driving that can help improve your quality of life.

21. Write thoughts and inspirations down.

22. Every day, find time to be alone.

23. Having problems? Talk to God on the spot. Try to nip small problems in the bud. Don't wait until it's time to go to bed to try and pray.

24. Make friends with Godly people.

25. Laugh.

26. Laugh some more!

27. Take your work seriously, but yourself not at all.

28. Develop a forgiving attitude (most people are doing the best they can).

29. Be kind to unkind people (they probably need it the most).

30. Sit on your ego.

31. Talk less; listen more.

32. Slow down.

33. Remind yourself that you are not the general mana ger of the universe.

34. Every night before bed, think of one thing you're grateful for that you've never been grateful for before.

Califonia Agents Representing Investment Buyers

2008-04-11T14:57:00.000-07:00

California agents have not been able to represent investors on properties which there is a notice of default filed because the law stated that buyer's agents needed to be bonded. The issue is that the bond didn't exist. Below is information from the California Association of Realtors legal department with the latest news on this subject!

C.A.R.'s Member Legal Services team has published a revised legal article, "Notice of Default and Investor-Buyer Transactions: Home Equity Sales Contracts," which has been revised to reflect the holding in the case, Schweitzer v. Westminster Investments, 157 Cal. App. 4th 1195 (2007), review denied March 26, 2008.

The Fourth District Court of Appeal held that the bond requirement under Civil Code Section 1695.17 for an equity purchaser's representative is "void for vagueness under the due process clause and may not be enforced." The California Supreme Court has declined to review this case which means that the bond requirement has been eliminated from the Home Equity Sales Contract Law.

This article can be found on the What's New and Legal Articles pages of the Legal section on C.A.R. Online (www.car.org).

Taking an Interest in your Credit Card Rate....

2008-04-08T09:32:00.000-07:00

Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.

As such, your credit cards can have a major impact on your financial wellbeing and even your credit score. But did you know that your credit score can also impact your credit cards...specifically your interest rates? Although some companies have abandoned the practice, many won't hesitate to raise your interest rate if your credit score declines - even if you are paying them on time! By following these tips, you can help avoid inflated interest rates on your credit cards...and perhaps even enjoy more trips to the ballpark:

Understand the terms. The best way to protect yourself from high interest rates and hikes is to read and understand your credit cards policy terms. Pay particular attention to the interest rate, how long that rate is in effect, and what actions can lead to a hike - such as a late payment on your card, a declining credit score, or even a late payment on a completely unrelated bill.

Don't be late. Making a late payment can lead to increased interest rates on all your cards. In addition, they can lower your credit score, causing you even more problems down the road. So make a schedule and always pay on time.

Watch the mail. We all get junk mail, but some of it may not be junk after all. Whenever you receive any information in the mail from your credit card, read it carefully in case any policies or interest rates are changing.

Make a call. If your rate does change, call the company. If you've made your payments on time consistently, you may be able to get your original rate restored. If the company seems hesitant, you may want to threaten to transfer your balances to another card - customers in good standing may find they have more bargaining power than they realize. And don't just threaten to make a change...actually do it if it makes sense. You may find the grass actually is greener on the other side.

Be careful what you close. Closing a card that has a current balance will likely send your interest rate soaring. In addition, closing your oldest credit cards can have a negative impact on your overall credit score. So make sure you check and double check which cards are best to close.

America's riskiest real estate markets

2008-04-03T21:47:00.000-07:00

Using data from a variety of sources, Forbes has compiled a list of the nation’s “riskiest” real estate markets – which includes San Diego and Sacramento. But, the magazine concludes, there are signs that improvement may be on the horizon for these two major California markets.

MAKING SENSE OF THE STORY FOR CONSUMERS:
< The riskiest markets are those with high foreclosure rates, slow or no job growth, and a glut of homes on the market. Markets like Detroit, Cleveland, and Miami display all three characteristics.

< By contrast, transactions are rising in San Diego, and that’s a good sign assuming the increase is sustained. Rising transaction numbers may mean credit is becoming easier to come by and buyers are looking somewhat more favorably on the market. In fact, Forbes suggests prices also may begin to rise over the next six months. That’s because there usually is a lag between increases in transaction numbers and price increases.

< The Forbes report also projects better times ahead for San Diego and Sacramento thanks to a 125 percent increase in Fannie Mae/Freddie Mac conforming loan limits. In San Diego, the report notes, 18 percent of the market will see improved lending conditions.

Spring Cleaning on Your Credit Report

2008-04-03T15:15:00.000-07:00

As spring comes into bloom and you clean out your home, your closets and your yard, don't forget to clean up something that can really impact your life: your credit score. Having this information is important for when you need a car loan, home loan or even a student loan, so that you have the ability to live the life you want without financial restrictions.

By viewing your credit activity on a regular basis you can manage any detrimental items that need to be removed or fixed. These actions will create a better rating under your name and benefit you throughout your life. The easiest and fastest way to do this is by going online.

Go Free Credit offers an easy way to check your credit instantly. You can try this service free for 30 days to monitor any activity and make changes in your life so that your score increases. You will get a detailed, personalized analysis of your credit report with advice on how to improve it. You will also find information on how to understand your credit report. Experts advise checking your credit report more than once a year, but checking too often can make your credit score go down.

Credit monitoring, automatic notification of credit activity and a detailed personal analysis are all included in this service. You can find out who has recently viewed your credit report and even see the best ways to improve your credit score based on your personal history. Improving your credit increases your options for financial success. Bankruptcies, judgments, collections and past 30-days late payments are the top damaging factors that can negatively affect your credit score and need to be checked now. Additionally, by being aware of the activity on your credit report you can keep a close eye on fraudulent activity and be confident of your financial future.

REO's and Working With Financial Institutions...

2008-03-30T13:44:00.000-07:00

I wanted to share an article that I recently read by Troy Fowler that address's REO Properties and Auctions that may help shed some light.

REO's and Working With Financial Institutions...

REO Properties
An REO (Real Estate Owned) is a property that goes back to Lender after an unsuccessful foreclosure auction. Most foreclosure auctions result in adequate bids. Typically there is rarely enough equity in the property to satisfy the loan(s) full repayment.

With regard to REO properties, the bank now owns the property and the mortgage loan no longer exists. The bank will handle the eviction, if necessary, and may manage some of the repair process. They will typically negotiate with the IRS for removal of tax liens and pay off any homeowner's association dues.

Selling REO's
Each bank/lender manages the REO process based on guidelines that are individually defined, but they all have similar goals. They want to get the best price possible and have often negotiated to achieve the highest possible price. However the market and expectations of asset managers may vary as inventories have swelled and markets have slowed. Generally, banks have an entire department set up to manage their REO inventory.

Generally, banks have an entire department set up to mange their REO inventory.

Property Condition
Banks always desire to sell a property in an "as is" condition. You may choose to obtain professional inspection services companies to determine the condition of the property. This is usually done to assist a potential bidder to better understand the highest price they are willing to offer based on the property condition.

Your offer should include an inspection contingency to ensure that your offer represents the best interest and appropriate price for both parties.

Banks are increasingly partnering with auction houses to offer multiple properties though the auction process. Depending on the property, location, condition, numbers of bidders etc. This is an excellent alternative to find great deals in purchasing real estate.

The auction Method Advantage
Choosing the auction method actually allows a property owner a specific timeline for selling real estate. In today's slowing real estate marketplace, having the option to spotlight your property and maximize visibility is a critical benefit to getting it sold. It is by far the best possible method of attracting as many possible bidders on a single day and using a competitive bidding process to achieve the highest possible sale price. Buyers act on your schedule by complying with the terms, conditions and sale date of the auction.

They are committed to sale on a specific date; therefore, they conduct their due diligence in advance and are prepared to bid on the day of the sale. Closings typically never exceed 45 days beyond the sale/auction date, offering you a complete timeline from the minute you agree to move forward. Whether your property has been on the market longer than you expected, you wish to avoid a long drawn out sales and negotiation process, or are just ready to make that move that will enable you to move forward on your schedule.

Home Office....Can You Deduct on Your Taxes

2008-03-29T12:07:00.000-07:00

This article is by CRS instructor, Chris Byrd who is well known for his tax strategy seminars. He has been a speaker for the Northern CA CRS Chapter and we find him to be very good! Chris@ChrisBirdSeminars.com or http://www/.chrisbirdseminars.com

Qualifying for the Home Office Deduction
The deduction allows you to deduct a pro-rata portion of your residential costs as a business expense when it's used as your principal place of business. The percentage of allowable expense (found by dividing the square footage of the office by the home's total square footage) can be applied to mortgage interest, insurance, property tax, rent, depreciation, utilities, and other home-related expenses.

The two requirements:

1. The space is exclusively used for business

2. You must regularly conduct some kind of business activity in the space

The home office deduction can only be taken if a portion of the home is used "exclusively and primarily" for business. That means the designated space cannot be used for any other purpose, like a guest room.

Although the space must be "separately identifiable," it needn't be blocked off with a permanent partition. This deduction can also apply to a separate structure not attached to the dwelling unit.

Your Home Office Needs to be Your Principal Place of Business
More taxpayers qualify since the definition of "principal place of business" was broadened to include a place where administrative or management activities are conducted on a substantial basis, if there is no other fixed location where they conduct substantial administrative or management activities (Taxpayer Relief Act of 1997). In short, this means that a self-employed person needs to spend more time running their business from home, not the brokerage sales office.

In my experience, real estate agents often fail to qualify for this deduction because they already have a brokerage sales office, where most of their activities in running their business are conducted.

Also, if you are an employee who works at home, the rules state that the home office must be for your employer's convenience, rather than your own. As popular as tele-commuting has become, make sure this point is clarified with your employer. That way you can document that the office space is specifically required by them.

One caveat for anyone taking this deduction. It cannot be taken for any year when the amount claimed will generate a net loss for the business. However, the untaken deduction can be carried forward to a year when there is sufficient profit to avoid that limitation.

Selling a Residence with a Home Office
In December, 2002, the US Treasury approved a change that removed a major negative for those who'd been taking the home office deduction. (And for those who feared taking it.) Normally, gain on the sale of a principal residence (where you resided two or more years) is tax free. Until that change, homeowners who sold would owe tax on the gain allocated to the office portion of their home.

The new Treasury rules change mean that a seller must no longer allocate the amount of gain between their business and personal use. The home office had to be within the house, however. And the new rules don't excuse any depreciation recapture that may have been taken for the home office.

Make Your House "Pay its Way"
Whether taking the home office deduction is tax-wise depends on your circumstances. Study the details in IRS Publication 587 http://www.irs.gov/publications/p587/Here's a tax strategy that every self-employed person should reconsider. Especially since several of the "traps" regarding the home-office deduction have been dismantled. Its tax advantages are substantial and could bring you significant savings-year after year

As always, please always consult withe your CPA or tax person regarding tax advice!

Just vapors and where did that gas go!

2008-03-25T21:17:00.000-07:00

Here is some tips on how to save Gas from a friend......

TIPS ON PUMPING GAS I don't know what you guys are paying for gasoline.... but here in California we are also paying higher, up to $3.50 per gallon. But my line of work is in petroleum for about 31 years now, so here are some tricks to get more of your money's worth for every gallon..

Here at the Kinder Morgan Pipeline where I work in San Jose , CA we deliver about 4 million gallons in a 24-hour period thru the pipeline. One day is diesel the next day is jet fuel, and gasoline, regular and premium grades. We have 34-storage tanks here with a total capacity of 16,800,000 gallons.

Only buy or fill up your car or truck in the early morning when the ground temperature is still cold. Remember that all service stations have their storage tanks buried below ground. The colder the ground the more dense the gasoline, when it gets warmer gasoline expands, so buying in the afternoon or in the evening....your gallon is not exactly a gallon. In the petroleum business, the specific gravity and the temperature of the gasoline, diesel and jet fuel, ethanol and other petroleum products plays an important role. A 1-degree rise in temperature is a big deal for this business. But the service stations do not have temperature compensation at the pumps.

When you're filling up do not squeeze the trigger of the nozzle to a fast mode. If you look you will see that the trigger has three (3) stages: low, middle, and high. In slow mode you should be pumping on low speed, ther eby mi nimizing the vapors that are created while you are pumping. All hoses at the pump have a vapor return. If you are pumping on the fast rate, some of the liquid that goes to your tank becomes vapor. Those vapors are being sucked up and back into the underground storage tank so you're getting less worth for your money.

One of the most important tips is to fill up when your gas tank is HALF FULL or HALF EMPTY. The reason for this is, the more gas you have in your tank the less air occupying its empty space. Gasoline evaporates faster than you can imagine. Gasoline storage tanks have an internal floating roof. This roof serves as zero clearance between the gas and the atmosphere, so it minimizes the evaporation. Unlike service stations, here where I work, every truck that we load is temperature compensated so that every gallon is actually the exact amount.

**Another reminder, if there is a gasoline truck pumping into the storage tanks when you stop to buy gas, DO NOT fill up--most likely the gasoline is being stirred up as the gas is being delivered, and you might pick up some of the dirt that normally settles on the bottom.

Hope this will help you get the most value for your money. Here is a link to check where to find inexpensive/cheap gas. http://autos.msn.com/everyday/gasstations.aspx?zip&src=Netx

DO SHARE THESE TIPS WITH OTHERS!

**(It always felt like the gas lasted longer if it was above ½ a tank!!!)

The Housing Market is Fine, It's the High Cost of Oil that is messing us all up!

2008-03-24T12:07:00.000-07:00

I read an article today by Linda Tremblay that I wanted to pass along that says alot about our market.

Everywhere you go, the news has been about foreclosures and the real estate market going downhill. I hate to tell the press, but if they would leave the housing market alone, we would be fine. Historically, the market has always had peaks and valleys. Along with this the press has send that home ownership is getting beyond our reach. As i have said before, I wish I would of bought about ten houses back then. If I sold them now, even at a reduced sale price now, I would be a millionaire.

The oil industry on the other hand is another story. The oil companies are making billions in profit as we are having to cut back on certain things to be able to drive our cars. That is bad enough and somehow we need to get away from depending on oil for our automobiles. But today I heard that the independent truckers are possibly going on strike because they can not afford the high cost of diesel. This weekend I saw regular gas at $3.15 and deisel was $4.20. Ouch!

Apparently it is costing the trucking industrymore money to run a load than they are making.
This is going to cause the price of everything to go up. Look at all the materials and food that is transported by the trucking industry. This is crazy. There ae so many smart people out there, hopefully someone can come up with an alternative method to run our trucks, our homes and our cars. After all, we can send a man to the moon.

Got Cookies and maybe some Milk

2008-03-22T22:28:00.000-07:00

One of my dear friends sent me an email this evening with cookie recipes on it. This is so cool and remarkable! Even if you have no particular interest, please pass on to the bakers in your life. They'll appreciate it.

Just click on the name of the cookie and bam the recipe is there. Good to keep handy

About Trivia on the Date of Easter

2008-03-22T21:14:00.000-07:00

Easter this year is Sunday, March 23,2008 and that makes it special. As you may know, Easter is always the 1st Sunday after the 1st full moon after the Spring Equinox which is March 20. This dating of Easter is based on the lunar calendar that Hebrew people used to identify Passover. This is why the date of Easter moves around on our Roman calendar. Based on the above, Easter can actually be one day earlier (March 22) but that is very rare.

Only the most elderly of our population (95 years old and above) have ever seen Easter this early before. The last time it was this early was 1913. For the most of us this year will be the earliest that we will ever seeEaster, and none of us will ever see Easter a day earlier ! The next time Easter will be this early (March 23) will be the year 2228 (that's 220 years from now).The next time Easter will be a day earlier March 22, will be in the year 2285 (that's 277 years from now). The last time Easter was on March 22 was 1818. So no one alive today has seen or I would say that makes this Easter special

WOW! New England's Largest MLS Joined with Zillow!!

2008-03-22T12:17:00.000-07:00

WOW! The largest MLS in New England is really being progressive! They are the first MLS who recently joined with Zillow 's Listings Feed program to provide a daily feed of their active listings. Agents, MLS companies or vendors are allowed to upload listings to Zillow's site and can include a description of the property, photos, contact information of listing agent and links to the listing brokerage's website.

In my area some of us would love to see that happen but because we are on a joint platform of 3 MLS's the politics become a problem. Many agents have that fear of losing control of our information and "They" will take over! In my opinion the more information that the public can access the better off we will be as an industry! Realtor.com is a good example The public loves receiving the information We still have the buyers and sellers seeking out Realtors to negotiate and get them into a property.Over the past six months, several top brokerages have signed similar deals with Zillow.com to participate in the Listings Feed program, including Realogy, RE/MAX Allegiance, Real Living, Prudential

California/Nevada/Texas Realty and ERA Real Estate. Zillow also has forged partnerships with real estate publisher Network Communications, Inc. and some 282 newspapers across the country that now feed classified real estate listings to the site.

Great work New England for leading the way in our industry!!!