Monday, November 15, 2010

SB 931: no short sale deficiency judgements

SB 931: no short sale deficiency judgements in CA on first TD's


Until now, the laws allowed banks to pursue a homeowner following a short sale for the balance of the deficiency. Many of them did just that, 1 to 6 months after the closing...surprise! Not any more!

Beginning January 1st, 2011 any first mortgage lenders that accept a short sale will not be able to obtain a deficiency judgment against the seller on any FIRST TRUST DEED. This includes purchase money, hard money and refinanced loans.

SB 931 applies to one to four-unit dwellings, non-owner or owner-occupied.

If you have a second or third lien, it is very important that you get the lender to waive their deficiency rights in writing. Our team has had good success doing that for our clients. Please call with any questions or referrals for short sales. We would be glad to give a free consultation.

The legislative counsel's summary of the bill follows:

"This bill would prohibit a deficiency judgment under a note secured by a first deed of trust or first mortgage for a dwelling of not more than 4 units in any case in which the (owner) sells the dwelling for less than the remaining amount of the indebtedness due at the time of sale with the written consent of the holder of the first deed of trust or first mortgage. The bill would provide that written consent of the holder of the first deed of trust or first mortgage to that sale shall obligate that holder to accept the sale proceeds as full payment and to fully discharge the remaining amount of the indebtedness on the first deed of trust or first mortgage."

Of course, this is not tax or legal info so you should contact the appropriate professional before considering a Short Sale, loan modification, DIL or foreclosure.

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.


Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified
RE/MAX BY-THE-SEA

Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225

See my main Web Site for more info and reports
http://www.sandiegohomes4u.com

Also Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!

You can view all available San Diego area homes for sale.
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County

Sunday, October 24, 2010

San Diego County Events Calendar - November 2010

 Dennis and Sunshine Smith of RE/MAX By-the-Sea are pleased to provide you with the

San Diego County Events Calendar - November 2010

Over 60 different events.

To view the image below, click on it to see it in full screen.
It gives you better readability.






Here is a list of the exciting things to do and places to go throughout San Diego County.
I hope you enjoy the many things and events we have to offer in
San Diego, Oceanside, Carlsbad, Encinitas, Olivenhain, Del Mar and Escondido including
Fairs, Festivals, Performances, Parades, Music, Art and more.


Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

760-436-0087, or cell at 760-212-8225

See my Short Sale and Foreclosure Avoidance Web Site at
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics
for the month and compare it with last year, by city!

You can view all available San Diego area homes for sale at
You can search by address, by MLS number or by general criteria.




Thursday, October 14, 2010

Single Story house near I-15 in Fallbrook - Only $299K

Single Story house near I-15 in Fallbrook - Only $299K


Possible 100% Financing Available.

Dennis Smith Presents:  3523 Lake Park Ave, Fallbrook



Rare Single Story Home in Wonderful cul de sac location in Lake Rancho Viejo, Fallbrook
Move in ready.  Some New paint & all newer carpet. 
Features 9' ceilings and family room w/cozy fireplace for romantic, relaxing evenings. 
The kitchen opens up to the family room to give it a Great Room feeling. 
Living room & Dining room are separate rooms.Inside Laundry Room. 
Quick access to I-15 Freeway. 
Close to over a mile of community walking trails. 
Pride of ownership.
MLS number  100061048
See full details, Please call me at 762-212-8225



Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent
Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX BY-THE-SEA

Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County


Wednesday, September 29, 2010

Buy Homes in San Diego County for Half Off.

Buy Homes in San Diego County for Half Off.

This is a great time to buy homes in San Diego County.

With loan rates at 50 year lows (almost 2/3 of what rates were 3 years ago),
and price drops on homes from 20% to 50%,
you could have a loan payment that is 40% to 60% lower
than it was 3 years ago...on the exact same home.

What a great deal, but do not delay,
Interest rates can turn up quickly.
If rates go from 4.5% to 6.5% (where rates were 2 years ago)
Your payment goes up by 48%.
What you can buy for $600K is much different than what you can buy for $300K.

Learn what the local "Experts" have to say about a Double Dip Recession and
where San Diego area Real Estate prices will go in the next 6 months.
http://sandiegohomes4ucom.blogspot.com/2010/09/opinions-are-like-noses-we-all-have-one.html

Please call me quickly to take advantage of these rates and prices.
Subscribe
Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information and free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County



OPINIONS ARE LIKE NOSES, WE ALL HAVE ONE

OPINIONS ARE LIKE NOSES,
WE ALL HAVE ONE

Some are more educated than others but not always right.

Below is what the local "Experts" have to say about a Double Dip Recession and
where San Diego area Real Estate prices will go in the next 6 months.

Each week the San Diego Union Tribune Newspaper Business section asks its panel of eight economists to weigh in on an economic issue of concern to San Diegans. They may say yes, no, up, down or decline to participate or remain neutral.

Question: With the stock market, employment, housing, consumer spending and the general economy in jittery condition, do you think San Diego County will fall into recession again in a so-called “double-dip”?

Yes — 0;
No —7;
not participating: 1

No 'double-dip' ahead for San Diego economists say, but it might feel like a slump.
http://ww.signonsandiego.com/news/2010/aug/29/no-double-dip-ahead-san-diego-economists-say/

Question: Do you think San Diego’s housing market – prices and sales – will fall between now and the year’s end in the wake of the end to federal and state tax rebates?

Yes - 3 (residential focus)

Yes - 1 (commercial focus)

No - 2 (residential focus)

Neutral - 1

Some of the comments:
"This is an exceptionally complicated call. "
"Now we are back to a more normal recovery pattern."

"Although there will be parts of San Diego’s housing market that will see prices and sales increases, the end of the tax rebates, continuing high unemployment and sluggish job growth, and inventory of foreclosed homes still to be released to the market, will cause overall prices and sales in San Diego to slump through the end of the year."

"There is ultimately an imbalance of supply and demand, which will have the impact of bidding up housing prices as the economy recovers, simply because we will add precious few new housing units relative to the demand that can be forecast with regional economic growth. However, this upward pattern in pricing will be very gradual."

"the good news is regular sales are up while the [banks'] real-estate-owned sales are declining as a percent of the total"
http://www.signonsandiego.com/news/2010/aug/21/housing-prices-and-sales-where-are-they-headed/


My thoughts: Interest rates are the lowest they have been in 50 years and have nowhere to go but up. Lock in these low rates NOW for 15 to 30 years and smile. If rates go from 4.5% to 6.5%, that is a 48% increase in the monthly payment! This probable increase in rates has a far greater cost increase than what you would save in the possible drop in property prices in San Diego area...if prices go down at all.

Please call me quickly to take advantage of these rates & prices today. 

Subscribe
Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate

Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information and free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County



Monday, September 13, 2010

San Diego County Events - Sept 2010

 San Diego County Events - Sept 2010
To view the picture/image below, click on it to see it in full screen.
It gives you better readability.



Things to do in San Diego in Sept 2010



Here is a list of the exciting things to do and places to go throughout San Diego County.
I hope you enjoy the many things and events we have to offer here.
Click on the picture/list to expand it to full screen


Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent
Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
 
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm
See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.
My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Friday, September 10, 2010

Furniture Fantasy Sale Sat., October 2, 2010

Furniture Fantasy Sale Sat., October 2, 2010 

Have you ever walked through a Model Home and wished you could get a good deal on the furnishings in the home?  BIA can help.  The Building Industry Association of San Diego County has it's 3rd annual fundraiser in a 20,000 SqFt warehouse full of great furnishings from Model Homes.

Well now you can. 
As much as 90% off retail.


You must be there early since people start lining up at 4AM. It is open at 8AM and mostly gone by mid morning.

OPEN TO THE PUBLIC
October 2, 2010
8:00am till SOLD OUT
Note: they made over $60K for charity last year - 2009.  Watch for it again in 2011.

FEATURING:

HIGH-END MODEL HOME FURNISHINGS

OFFICE FURNITURE, APPLIANCES

ACCESSORIES

CONSTRUCTION/REMODEL SUPPLIES

All sales are final and items must be removed that day!!!
Cash and Credit Card (MC, Visa, Amex& Discover) accepted

Don't miss the Furniture Fantasy Sale.
Visit: http://www.biacares.org/  for more information.
http://www.biasandiego.org/pdfs/Sales_Flyer.pdf

SALE LOCATION: Liberty Station
2816 Historic Decatur Road, Suite 140
San Diego, CA 92106
Enter @ Lytton St.
Follow the Signs!!!

Furniture Fantasy Sale Sat., October 2, 2010

____________________________________________

ANOTHER GREAT DEAL!
Go to the Habitat for Humanity ReStore for more bargains.
http://www.sdhfh.org/
10222 San Diego Mission Rd
San Diego, CA 92108
(619) 516-5267
 
Up to 70% OFF every Item: cabinets, doors, appliances, granite countertops, windows, lighting, plumbing, flooring, antiques, architectural items and more.

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225

http://www.sandiegohomes4u.com/home.htm

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Fall Home/Garden Show in Del Mar Ca

Fall Home/Garden Show in Del Mar at the Fairgrounds

has hundreds of different exhibits including home improvement products, furnishings, decorating & remodeling ideas… plus Showcase, Pet Corner, and Art / Face to Face.
September 10 - 12, 2010

Hours:
Friday, 11:00AM-6:00PM
Saturday, 10:00AM-6:00PM
Sunday, 10:00AM-5:00PM

Price:
Adults $8.00;
Younger than 12, free
Seniors $1.00 - Friday only
After 3:00PM, $5.00
E-tickets, $6.00
http://www.fallhomegardenshow.com/Pages/Discounts.htm

Location: O'Brien Hall at the Del Mar Fairgrounds
Parking: $9.00

Visit the Fall Home/Garden Show in Del Mar for all kinds of show specials too.


Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent
Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm
See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information and free reports.

Friday, August 6, 2010

25 Free and Fun Activities in San Diego County

25 Free and Fun Activities in San Diego County


1. Head to one of San Diego’s beaches, consuming 70 miles of the coast.

2. Picnic at Torrey Pines State Park and view the hang-gliders.

3. Bird watch at the 1000-acre Torrey Pines State Reserve.

4. Take a self-guided tour of UCSD’s contemporary Stuart Collection sculptures.

5. Travel to La Jolla Cove and watch the scuba divers, snorkelers, seals, or the sunset.

6. The Museum of Contemporary Art in La Jolla is free the first Sunday of each month.

7. Drive to the top of Mt. Soledad in La Jolla for magnificent views of San Diego.

8. Cruise the 3-mile long Mission Beach Boardwalk on skates, bikes, or feet.

9. At night, have a beach bonfire at one of the selected beaches.

10. Spend the day at Mission Bay, a 4600-acre aquatic park.

11. Bike or jog along the 20 miles of trails surrounding Mission Bay.

12. Explore the tide-pools in Point Loma and La Jolla.

13. Visit Seaport Village to window-shop or tour the bay

14. Check out San Diego’s Big Bay

15. Balboa Park features museums and some are free on Tuesdays

16. Take in a free organ concert (Sundays at 2pm) at the Spreckels Organ pavilion in Balboa Park.

17. On the first Wednesday of every month, go to the Reuben H. Fleet Museum for “Stars in the Park”

18. Tour the Gaslamp District: full of restaurants, shops, and nightlife.

19. Old Town offers free flamenco dance lessons and historic tours of the town.

20. Take a free tour of the 150-acre Arco Olympic Training Center in Chula Vista.

21. Drive to Mt. Laguna to hike, picnic, or bike-ride.

22. Explore the Mission Trails Regional Park, which features a theater where guests can explore or learn about nature and the people who once occupied the land.

23. Bird watch from one of the watching platforms at the Chula Vista Nature Center.

24. Free fly-fishing lessons are offered Sundays from 9am to noon at Lake Murray in La Mesa.

25. Travel across the border to Tijuana, Mexico.

These are just 25 of the many Free & Fun activities in San Diego County
Explore and have fun in the sun and add to this list with your own suggestions.


Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662

Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

San Diego County Events - Aug 2010

 San Diego County Events - Aug 2010
To view the image below, click on it to see it in full screen.
It gives you better readability.




Here is a list of the exciting things to do and places to go throughout San Diego County.
I hope you enjoy the many things and events we have to offer here.

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.




Thursday, July 29, 2010

Tax Credits + Rebates for Energy Efficiency still available for Consumers

Federal Tax Credits + CA Rebates for Consumer Energy Efficiency still available

Tax Credit: 30% of your cost up to $1500 total
Details: Must be an existing home & your principal residence.
New construction and rentals do not qualify.

What qualifies: Biomas Stoves, Heating, Ventilating, Air Conditioning, Insulation, Roofs (Metal & Asphalt), Water Heaters (non solar), Windows and Doors & Tube Skylights.

This Program Expires: December 31, 2010

What qualifies for the Second Part:
Geothermal Heat Pumps, Small Wind Turbines, Solar Energy Systems and Fuel Cells.

This Program Expires: December 31, 2016
For all the details, see:
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index


CA extends & expands the Energy Star appliance rebates.  These rebates and recycling payments are in addition to the Federal credits above. Some rebates come from SDG&E for those living in San Diego.

Replacing old appliances and equipment with those that are ENERGY STAR labeled can help you save significantly on your utility bills...and you get a rebate (not all Energy Star labled products qualify for the rebates).

HVAC Systems - $ 500-1000
Dishwashers  $100-130
Water Heaters - $330-780
Clothes Washer - $100
Refrigerators - $200-225 + $50 recycling
Freezer - $50 + $50 recycling
Pool pumps - $200
Room AC - $50-100 + $25 recycling
Whole House Fan - $50

This Program Expires when the money runs out - 1-2 months

For all the details, see:
http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
http://www.cash4appliances.org/.
http://www.appliances.energy.ca.gov/
http://socalwatersmart.com/  for MWD



Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County

Sunday, July 25, 2010

Great White Shark attacks Surfer in Cardiff

Great White Shark attacks Surfer in Cardiff.

to imbed

The "Cardiff Kook" statue has met its match with Jaws.

The statue was dedicated in 2007 as the "Magic Carpet Ride" but has been banned by local surfers because it is not a natural surfers stance.  Pranksters have previously dressed the male statue with various outfits like a tennis outfit, ballerinas tutu, a bikini and others.



Courtesy of 
Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Tuesday, June 22, 2010

How to Quietly Break Into a Home in 6 Seconds

How to Quietly Break Into a home in 6 Seconds...and how to prevent it!

Since you value your possessions and your safety, here is some valuable information you should know.

The following YouTube video shows how to quietly break into a home through the garage door in six seconds.

http://www.youtube.com/watch?v=CMz1tXBVT1s

There is a very easy way to prevent this from happening. Simply take a small cable tie (or piece of wire) and attach the release lever cord holder to the connector above it. I did it to my door by threading the cable tie through the hole the pull-down rope is attached to. I did not even have to remove the rope. It took all of 3 minutes to do both garage doors.

Now all you have to cut the zip tie in order to release the lever.


Garage door safety


If you would like me to mail you a free cable tie, please call or write me with your mailing address and let me know if you have one or two garage door openers.


Subscribe


Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County


Wednesday, June 2, 2010

Freddie & Fannie Join HAMP = Easier Short Sales

 Freddie Mac and Fannie Mae just announced  their own version of the HAFA programs. They’re both planning to be implemented by August 1, 2010.  The programs are very similar to HAFA in that they simplify and streamline the use of the short sale and deed-in-lieu (DIL) options.  They also use similar forms and timelines. In addition, the program expires December 31, 2012, like HAFA. However, some of the major differences offered by the new Fannie Mae and Freddie Mac HAFA programs include, but are not limited to:

- Both institutions will pay the servicer a $2,200 incentive fee for successful short sales

- Both institutions will pay the servicer a $1,500 incentive fee for all successful DILs

- The Deed for Lease (D4L) is available for borrowers who request and are approved to remain in the property following a successful DIL.

- Borowwer will get $3000 to assist with their relocation upon closing.
For more details, visit the following links: eFannieMae.com and Freddie Mac Bulletin

My consultation is FREE as are my services.
My fees are paid by the bank, not by you!

We use attorneys to negotiate your Short Sale.
Attorneys have more options than Real Estate agents in a short sale.
Do you want the best representation possible? Call me.

Dennis Smith, CDPE at 760-436-0087
CDPE - Certified Distressed Property Agent
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate 
Dennis@sandiegohomes4u.com

http://HAFAShortSaleConsultant.com/


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Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County



Tuesday, May 25, 2010

Are you really ready to submit an offer?

Are you really ready to submit an offer?

You have found a great home. Decided on a price by looking at the comparables with your Realtor.
You have written the offer!!! YIKES, you really did it!!!

Now what?

Your Realtor will submit it to the other Realtor who will present it to the seller for their approval or counter.
Did you give your agent everything needed to submit a strong offer?

1 - PRE-APPROVAL LETTER. Best if it includes a statement that they have verified your assets and stating all 3 FICO scores.

2 - Your credit report. At least the front page with only the last 4 digits of the SSN showing
3 - A copy of your proof of funds showing liquid assets (many banks will not accept stock accounts). This must be dated within the last 30 days.  Sometimes a screen shot is acceptable, provided it shows the banks name, your name, the account number and the date of the document.

4 - A personal letter to the homeowner stating why you like the home, how much you like everything they did to it. Be specific if possible - shutters, counter tops, paint, floor coverings, landscaping, flowers, etc), how it will make you and your family's lives better. Things you have in common with the seller - kids, sports, hobbies, schools, etc. Anything that is truthful and relevant. People like to deal with those who are similar to them in some way.

5 - Anything else the seller's Realtor requests to be privided by the buyer or buyer's Realtor.

6 - If the offer is contingent on another property closing, provide the Escrow or Closing agent's complete contact information along with the escrow/file number. Include the contract. Note the closing date and what contingencies still need to be met.

Must all these items be submitted to the Listing Agent? NO. However, the more of these you can provide to your Realtor, the better chance your offer has of being accepted, especially if your offer is not at asking price or there are multiple offers. I have been in multiple offer situations where the highest price AND best terms did not get the home...one or more of the above made the difference.

Please note my other related posts:

Are you really ready to buy a home?
http://sandiegohomes4ucom.blogspot.com/2010/03/are-you-really-ready-to-buy-home.html

The differences in buying Bank Owned homes, Short Sales & Traditional sales.
http://sandiegohomes4ucom.blogspot.com/2009/08/foreclosedbank-owned-homes-short-sales.html

Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County

Tuesday, May 18, 2010

Support bill SB 1178 to to extend CA anti-deficiency judgments

Please support the proposed bill to to extend CA anti-deficiency judgments to owners who did non-cashout refi's.

When is Enough, Enough?
The Big Banks are Opposing C.A.R.'s Bill to Protect Borrowers

C.A.R. is sponsoring SB 1178 (Corbett) to extend anti-deficienc
protections to homeowners who have refinanced "purchase money"

loans and are now facing foreclosure. Most homeowners didn't

even know that when they refinanced they lost their legal

 
protections, and now may be personally liable for the difference

between the value of the foreclosed property and the amount owed

to the lender. SB 1178 will be voted on soon by the entire Senate.



One can't help but think, "when is enough, enough?" Banks have

already foreclosed upon a family's home and now lenders can

continue to hound them for additional payment. How much more

money can today's families afford to pay when they've already

lost their homes and most likely their jobs? Are they never to

have the opportunity to begin again?


Action Item
Call Senator Mark Wyland  Today!
Urge your senator to vote "Yes" on SB 1178.
Call 1-800-672-3135 and enter your PIN number --182001622
Please ask your clients and others to call as well.
They can use the same PIN number.


Background

California has protected borrowers from so called "deficiency"

liability on their home mortgages since the 1930s, but the

evolution of mortgage finance requires the statute to be updated.



Current law says that if a homeowner defaults on a mortgage used

to purchase his or her home, the homeowner's liability on the

mortgage is limited to the property itself. The law has worked

well since the 1930s to protect borrowers, ensure the quality of

loan underwriting and allow borrowers who are brought down by

financial crisis to get back on their feet.



Unfortunately, the 1930s law does not extend the protection for

purchase money mortgages to loans that re-finance the original

purchase debt -- even if the re-finance was only to gain a lower

interest rate. Recent years of low interest rates have induced

tens of thousands of homeowners to re-finance their mortgages,

yet almost no one realized that by re-financing their mortgages

to obtain a lower rate, they were forfeiting their protections.

These borrowers became personally liable for the balance of the loan.



C.A.R. is Sponsoring SB 1178 Because:

SB 1178 is fair. Home buyers, and lenders, entered into the

purchase with the idea that the mortgage would be non-recourse

debt, and that the lender would look to the security (the house)

itself to make good on the debt if the borrower cannot. It meets

the legitimate expectation of the borrowers, who have no idea

that they are losing this protection by a re-finance. Homeowners

didn't know that their re-finance exposed them to personal

liability, and new tax liability, on the note. It would be

unfair to allow a lender, or someone that has purchased a note

from a lender, to pursue the borrower beyond the value of the

agreed upon security.



SB 1178 is consistent with the intent of the orginal law and

simply updates it for modern times. Current law was intended to

ensure that if someone lost their home to foreclosure, they

wouldn't be liable for additional payment. Since the law was

passed over 70 years ago, homeowners re-financing from the

original loan to lower their interest rate has become

commonplace. The 1930s legislature didn't anticipate how

mortgages would change over time.



Lenders could pursue families to collect this "deficiency" debt

years down the road. Under current law, lenders have up ten

years to collect on the additional debt after a judgment has

been entered on the foreclosure. Years after a family has lost

their home, they could find themselves in even more financial

trouble. Lenders could even sell these accounts to aggressive

collection agencies or even bundle them into securities. The end

result would be banks who didn't lend responsibly in the first

place coming after families for even more money that they don't have.


SB 1178 does NOT apply to "cash-out" re-finances, unless the money was used to improve the home and it doesn't apply to HELOCs.

To get more information of Foreclosures, Short Sales, Deficiency Judgements and their concequences, see my
Foreclosure Avoidance & Information web site at
http://HAFAShortSaleConsultant.com/


For More Information on this bill,
Please contact DeAnn Kerr at deannk@car.org.
--------------------------------------------------
Visit the web address below to tell your friends about this.
http://takeaction.realtoractioncenter.com/join-forward.html?domain=carealtors&r=d1AAIe4aXD51

Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/
for more information & free reports.

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.

Monday, April 26, 2010

Strategic Default/Foreclosure VS. Short Sale

Strategic Default/Foreclosure VS. Short Sale

What are the Homeowner Consequences in each?

Most persons losing their homes to foreclosures
do not realize there are better options available to them today.

Do you know anyone that could benefit from this information?
Please have them call me or visit my
Short Sale and Foreclosure Avoidance Web Site at

http://hafashortsaleconsultant.com/
for more information & free reports.
____________________________________

Future Fannie Mae or Freddie Mac Loan - Primary Residence

Foreclosure
A homeowner who loses a home to Foreclosure will not be eligible for a Fannie Mae, Freddie Mac, VA or Conventional Mortgage for a period of 5 years.

Successful Short Sale
A homeowner who successfully negotiates and then closes a short sale WITHOUT BEING LATE on any obligation may be eligible for a Fannie Mae backed mortgage after only 2 years and a conventional or FHA loan immediatly. Several conditions apply.

VA loans whether late or not, and FHA loans with late payments are a 3 year wait.

Conventional loans are a 2 year wait if there are late payments.
______________________________________________________

Future Fannie Mae Loan – Non-Primary Residence/Investor

Foreclosure
An Investor who allows a property to go to Foreclosure will not be eligible for a Fannie Mae backed investment mortgage for a period of 7 years.

Successful Short Sale
An investor who successful negotiates and closes a short sale may be eligible for a Fannie Mae backed investment mortgage after only 2 years.

Conventional investor loans will take 5 to 7 years depending on late payments.

_____________________________________________________

Future loan with any Mortgage Company

Foreclosure
On any future 1003 application, a prospective borrower will always have to answer YES to question C in Section VIII of the standard 1003 that asks "Have you had property foreclosed upon or given title deed in lieu thereof in the last 7 years?" this will affect your future interest rates.

Successful Short Sale
Does not apply on a short sale.

________________________________________________________

Credit Score - FICO Score

Foreclosure
May be lowered anywhere from 250 to 300 points or more.
Typically this will affect the credit score for over 3 years.

Successful Short Sale

Only the late payments on loan will show and after the sale. The loan will be reported as paid as agreed or negotiated or settled. This will lower the credit score as little as 50 points provided all other payments are being made on time. A short sale's affect on credit can be as brief as 12 to 18 months.

_________________________________________________

Credit History

Foreclosure
Foreclosure will remain as a public record on a person's credit history for at least 10 years.

Successful Short Sale
Short sale is not reported on your credit history. There is no specific reporting item for 'short sale'. The loan is typically reported “paid in full, settled” or as “paid as negotiated”.

__________________________________________________

Security Clearances

Foreclosure
Foreclosure is the most challenging issue against your security clearance outside of a conviction of a serious misdemeanor or felony. If a person has a foreclosure and is a police officer, in the military, in the CIA, Security, or any other job that requires a security clearance,  the clearance will be revoked and position will be terminated, in almost all cases

Successful Short Sale
A Short Sale by itself, does not challenge most security clearances.

_______________________________________________________

Current Employment

Foreclosure
Employers have the right to, and are actively checking, the credit regularly of all employees who are in sensitive positions. A foreclosure in many cases can be grounds for termination or immediate reassignment.

Successful Short Sale
A short sale is not reported on the credit report and therefore is not a challenge to employment.

_____________________________________________________

Future Employment

Foreclosure
Many employers are requiring credit checks on job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will be a challenge to employment.

Successful Short Sale
A short sale is not reported on a credit report and is therefore is not a challenge to employment.

__________________________________________________
Deficiency Judgment

Foreclosure
In California, there is no deficiency judgment for purchase money loans for 1-4 units.

For non-purchase money loans,  the lender has the right to pursuit a deficiency judgment against the homeowner in some cases.
Successful Short Sale
In some successful short sales, it is possible to convince the lender to give up the right to pursuit a deficiency judgment against the homeowner. If you are approved under HAFA, there can be no deficiency judgment.
_______________________________________________

Strategic Default/Foreclosure or Short Sale. 
Which one is better for you?


See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/

for more information and free reports.

This article was revised 5/3/2010, after the new HAFA guidelines came out.

As always, this article is for informational purposes only and is not legal or tax advise.  You should contact the appropriate professional to see how a Strategic Default/Foreclosure or a Short Sale will affect you.


Subscribe


Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
 
You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego Count

Friday, April 9, 2010

San Diego Real Estate Newsletter - Prices & Sales up sharply

San Diego Real Estate Newsletter -
Prices and Sales up sharply in San Diego County


See the full newsletter here
http://tinyurl.com/4-9-RE-Newsletter

As of 4/09/2010
House and Condo Sales by the Month with Average Price:


Mar 2010 were 2793 at $423,372 at $246.45/sqft  
Feb 2010 were 2113 at  $397,932 at $234.06/sqft
Jan 2010 were 2040 at   $391,775 at $230.39/sqft
Feb 2009 were 2197 at  $341,818 at $209.39/sqft

WOW!!! Prices Up 7% from last month
Sales up 32% over last month
Cost per SqFt is also up.
Active listings: 9535, up over 5% from February, only a 3.6 month supply
Of those, only 773 (up from 667 in Feb) are Bank Owned Foreclosures, a 32 day supply.
2217 (2120 in Feb) are short sales (almost 25%)
There are also another 6170 Short Sales that are Contingent or Pending!!!

Five to six months inventory is a balanced buyer/seller market.
In the lower price ranges, we are in a strong sellers market,
in the higher prices, we are in a buyers market.

Pending Listings: 4528, down from 5785 in Feb.
1025 of these pending sales are Bank Owned.
1981 are Short Sales and 1585 are regular sales (down from 2744 in Feb).

21 days left for the $8000/$6500 Tax Credit

That's only 3 weeks till the Tax Reduction/Credit is scheduled to expire!

We now have a new State buyers tax credit for $10,000.
That takes over where the Federal Credit stops…Close after May 1st,
and you need to be under contract by 12/31/2010.
Limited funding so may not last long. Some say in 2-3 weeks!!!

YES, you can double dip if you are in escrow by 4/30 and closed by 6/30/2010.

Check out the important details and BIG differences at:
http://sandiegohomes4ucom.blogspot.com/2010/03/new-ca-homebuyer-tax-credit-up-to-10000.html

5 Reasons why you should be Under Contract by 4/30/2010…or not.
1 Federal Tax Credit Expires 4/30/2010 for 1st timer

2 Double Dip on the State Tax Credit for 1st timer or new construction

3 Free Mortgage Protection Program ends 6/30/2010 for 1st timer

4 Entry Level price homes Rising

5 Interest Rates are Rising
Why you do not need to be under contract by 4/30/10
If you are not ready – timing, finances, home to sell,  job uncertainty/relocation or ?


Call me ASAP if you want to be in escrow by the deadline so you can Double Dip!
Or just get a home.



Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale & Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
You can view all available San Diego area homes for sale at http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.


Tuesday, April 6, 2010

Short Sale & Foreclosure Avoidance Program

Short Sale and Foreclosure Avoidance program that works

I just completed a seminar on the new HAFA Short Sale program.  This is the best government program yet to help those people who are underwater on their homes, to avoid foreclosure.


See my site to learn if you, or a friend, qualifies for HAMP, HAFA, Short sale or Loan Modification instead of foreclosure.  Click on "Government Programs Eligibility" in the upper right corner.

Answer most of your questions on how to avoid foreclosure.
http://HAFAShortSaleConsultant.com/



Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert

Donna "Sunshine" Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale & Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.


Tuesday, March 23, 2010

New CA Homebuyer Tax Credit up to $10,000. AB 183

New CA Homebuyer Tax Credit up to $10,000. AB 183
Assembly Bill No. 183 passed the Assembly and Senate on 3/22/2010
The governor signed it the next day.

AB 183 picks up when the $8000 Federal Tax Credit leaves off - May 1, 2010.
If you are under contract by 4/30/2010 and close by 6/30/2010, you could get $18,000.

1. The purchase of a qualified principal residence on or after May 1, 2010 and before August 1, 2011, pursuant to a contract executed on or before December 31, 2010, and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, until the $200,000,000 is gone.
Some say in 2-3 weeks!!!
(Under contract on or after 5/1/2010 and by 12/31/2010, and closed before 7/1/2010)

2. The amount of the tax credit is the lesser of 5% of the purchase price or $10,000, which means any home over $200,000 in price will be limited to the $10,000 credit.

3. The total allocation of $200,000,000 in tax credits is divided between first time home buyers and purchasers of homes that have never been lived in (new homes), $100,000,000 being allocated to each type of purchaser.

4. Only one credit will be issued to a first time homebuyer that buys a new home.

5. A “qualified principal residence” is an attached or detached home that will be used as the principal residence of the purchaser, and has either never been occupied, or is purchased by a first time home buyer.

6. A “first time home buyer” is and individual, or individual's spouse, who has no present ownership interest in a principal residence now or over the three previous year period, ending on the date of purchase.

7. The tax credit is non-refundable, meaning it is a use it or lose it credit. NOTE...You would need to have $3,333 of state tax liability each of the next three years to utilize the maximum amount of the credit available. It will be allocated over three years, beginning with the year the escrow closes on the new home.

8. You must apply for the credit within 2 weeks of closing or lose it.

9. Buyer must live in the home for 2 years or return the money.

If you are under contract by 4/30/2010 with a qualifying home, and close by 6/30/2010,
you should be able to double dip!!!  You can get both the State and the Federal Tax credits but you must hurry.  competition is high and inventory under $500K is low, therefore we are getting multiple offers on most properties under $500K.

AB 183  is the New CA Homebuyer Tax Credit for up to $10,000.


Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.

dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

See my Short Sale and Foreclosure Avoidance Web Site at
http://HAFAShortSaleConsultant.com/

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.


Monday, March 22, 2010

The Owl Box streaming video - WOW

No time to get hooked on Nature?
Do not go to this site or you are done.

The Owl Box cam at http://www.ustream.tv/theowlbox
 
My friend and past mentor/broker, Carlos Royal, is live streaming 24/7.
 
Color during the day, b/w infared at night.
 
Momma barn owl is on 4 eggs & 1 chick. Dad brings food.
 
Warning, it can be addicting.


Wednesday, March 17, 2010

Are you REALLY ready to buy a home?

Are you REALLY ready to buy a home?

Scenario...
We are out looking at homes and we see a for sale sign being installed. We call and the agent says it will be in the MLS tomorrow. The agent states that you MUST Pre-qualify with THEIR preferred lender. We have the chance to beat everybody to the property.

Are you ready to supply the following information to their preferred lender?

Is it all packaged in one place where it can be sent within the next 5 minutes?

1 - Last 2 to 3 years of Tax Returns
2 - Recent pay stubs proving year to date earnings
3 - A photocopy of the driver's license
4 - Copy of all recent bank statements
5 - Copy of all investment accounts
6 - Front page of your Credit Report with FICO score (may require their own)
7 - Copy of a completed loan application (may require their own but now easy to complete)
This is the basic for most lenders but they may have other requirements.
These will be needed for each person on the loan.

If you are not ready to provide this info ASAP, you may end up in the middle of a competitive bidding situation instead of the first offer.

Which is your choice? Are you REALLY ready to buy a home?
PS, bring your checkbook for a good faith deposit.

Of course, all this assumes that I have already received your Pre-Approval from a Direct Lender. If not, that is your first step. I can provide you with a referral to a top lender here or almost anywhere in the US or Canada.

If you are buying with ALL cash, you will need:
Recent copies of bank statements (dated within 30 days, including your name, institution & the account numbers with enough money for the purchase & closing costs. Some banks will not allow stock accounts.)
Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm 

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm 

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.

Saturday, March 6, 2010

Buying but concerned about job stability

Thinking about buying a home but concerned about your job stability?

If that is a concern, the C.A.R. H.A.F. Mortgage Protection Program may help.

If you lose your job, you can get up to $1500 a month and a co-borrower can get up to $700 if they lose their job.  You could get that money for up to 6 months. Some conditions apply.
There is no cost to the buyer!

TO QUALIFY FOR THE C.A.R. H.A.F. Mortgage Protection Program APPLICANTS MUST:
· Be a first-time home buyer – someone who has not owned property in the last three years. (includes co-buyer).
· Close on or before June 30, 2010 (or till funds run out)
· Use a California REALTOR® in the transaction (me, hopefully)
· Be a W-2 employee (cannot be self-employed)
· Purchase the property in California
 
Please call me for more details on the C.A.R. H.A.F. Mortgage Protection Program or any other questions on buying or selling Real Esate.

  Subscribe

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert

RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!

http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at
http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.