Realestaterealities

foreclosure Misery

2011-08-30T15:06:00.000-07:00

http://minnesota.cbslocal.com/2011/08/30/father-accused-of-abandoning-son-arrested/

Shattered

2009-08-17T11:41:00.000-07:00

The great American Dream of owning a home has been totally shattered.. the once bright hope of homeownership for first time homebuyers have been clouded and muddled. I just want somebody, someone who can tell me and all of us in the real estate industry on what is the policy to get our buyers in their homes. The conditions are higher (and somewhat insurmountable) to the point that these buyers think that they are being punished for the sins that they did not commit. We are all shattered

Latest Shared Item: More Help to Homeowners to Avoid Foreclosure

2008-10-23T15:34:00.000-07:00

Short Sale Refinance , It's the Right Time!

Listing, Gangs and Graffiti

2008-10-18T18:04:00.000-07:00

Yes, I have a listing where after it was rekeyed- a group of people with nothing better to do with their lives lurked on the property, removed the bolt and put it up on a shoe string as if they conquered the world. These bad element of our society broke the window, spray painted the wall with letters and numbers that only they can understand. They managed to remove the drawers and even spray painted the toilet bowls! The once was wooden floor is now covered with white paint. What is an agent to do? This is another consequence of the "Benevolent Society" the government is imposing on us.

In the meantime the foreclosure listings are few and far in between. I do not want to analyze this anymore. Whatever happens, happens!

Wall Street Never Meant It This Way

2008-10-14T19:58:00.001-07:00

Latest Item Posted: Washington is the Financial Center of the World.

UP,UP and .....

2008-10-06T12:23:00.000-07:00

FHA Minimum Down Payment

Still 2.85%. Only difference is Borrower must come up with 3.5% of thei own money.

Before it was 3%.

Let's Do It Right This Time!

2008-10-01T11:06:00.000-07:00

Gov't launches mortgage aid program

By ALAN ZIBEL, AP
posted: 47 MINUTES AGO

WASHINGTON -The government kicked off a program Wednesday that aims to prevent foreclosures by letting an estimated 400,000 troubled homeowners swap their mortgages for more affordable loans.
Lenders, rather than borrowers, will decide whether to participate in the program, which requires them to take a loss on the initial loan. The $300 billion, three-year program launched Wednesday is designed to help borrowers who owe more on their loans than their homes are worth.
To qualify, borrowers must be spending more than 31 percent of their income on mortgage payments. Loans made this year are excluded, except for those completed on Jan 1. Borrowers must have made six months of payments on their loans.
"For homeowners in trouble, this may be the help that they need," Housing and Urban Development Secretary Steve Preston said Wednesday. Officials did not have an updated estimate of how many homeowners were likely to qualify, beyond the Congressional Budget Office's estimate from earlier this year that 400,000 borrowers would participate.
The program, dubbed 'Hope for Homeowners,' was passed by Congress this summer as part of a massive housing bill. It is one of several government efforts to stem the mortgage crisis.
Critics, however, call the government's actions sluggish and inadequate. Earlier action to modify loans, they say, might have prevented a $700 billion financial industry bailout now being debated in Washington.
On Monday, a group of state banking and law enforcement officials released a report that said nearly 80 percent of borrowers with subprime loans as were not on track for assistance to avoid foreclosure as of May.
The report by the State Foreclosure Prevention Working Group criticized the lending industry for making only small changes to loan terms and noted that about one in five loans that were modified over the past year became delinquent again.
"While banks and Wall Street firms continue to report record write-downs of mortgage loan portfolios and securities, the losses do not appear to be flowing down to homeowners in the form of sustainable loan modifications," Iowa Attorney General Tom Miller, a founder of the state effort, said in a statement.

Local Stats- Foreclosure is Driving the Market

2008-09-23T08:21:00.000-07:00

With all these talks about foreclosed properties, we, your agents, do not see enough of them as was reported. This another of observation as I had experienced this in the 90s, I hope that the banks/investors who are holding these papers will have the courage to put them out in the market as they come. There are buyers waiting for these properties, and probably beyond my understanding is the REASON why these properties are released in trickles:

AUGUST 2008 CLOSED SALES NUMBERS FOR SFR's AND CONDOS

ORANGE COUNTY:

1,848 SFR closed sales transactions
$500k median sales price
30% price decline from AUGUST 2007
731 CONDO closed sales transactions
$310k median sales price
31% price decline from AUGUST 2007

LOS ANGELES COUNTY

4,311 SFR closed sales transactions
$385k median sales price
36% price decline from AUGUST 2007
1302 CONDO closed sales transactions
$356k median sales price
17% price decline from AUGUST 2007

RIVERSIDE COUNTY

3,247 SFR closed sales transactions
$235k median sales price
41% price decline from AUGUST 2007
277 CONDO closed sales transactions
$215k median sales price
28% price decline from AUGUST 2007

Time Is Of the Essence

2008-09-21T19:03:00.000-07:00

THE FINANCIAL BAIL OUT IS REAL ESTATE PER SE..... TIME IS OF THE ESSENCE. I have been ... I have been... Let the chips fall where it may! We are all in the same predicament. This is where value is a pie in the sky.

Sign of the Times

2008-09-18T11:40:00.000-07:00

"This is unique, and the Fed has never done something like this before. If you go all the way back to 1921, when farms were failing and Congress was leaning on the Fed to bail them out, the Fed always said, 'It's not our business.'"-ALLAN MELTZER, a professor of economics at Carnegie-Mellon, on the expanding role of the Federal Reserve.

This is exactly my thoughts.

HOUSING,HOUSING,HOUSING

2008-09-17T19:11:00.000-07:00

Latest Shared Item: It's Housing Stupid

Since I started blogging, I have always been pointing out that the life and blood of this economy is housing and before , I was scratching my head why , with all these brilliant minds, cannot put a transparent and simple solutions to this problem. Way back '07, I have been advocating for a "short sale refi"(please see my blog on 3/5/08) so that there will not be a tremendous number of foreclosures; refinance the property irregardless of income and credit report and close the transaction within thirty days.Henceforth, the homewners need not move and continue their payment that is affordable. Six months after, it's getting its way to mainstream like a trickle of water from a turned-off faucet since the full enactment is not until October. In the meantime, the gush of foreclosed properties continue like there is no tomorrow.

Lately, my blog was urging anybody who will listen to provide an array of loan menus for those truly deserving homebuyers .. this remains to be seen... and yes, some very brilliant writers from Wall Street realized what the problem is... It's housing stupid!!! Now I AM ALMOST READY TO PULL MY HAIR IN FRUSTRATION!!!!!

Another Job for a Real Estate Agent

2008-09-09T18:15:00.000-07:00

It was early morning. I dressed up in my gold C21 jacket.. I was going to court. No , I was not in trouble, I had to represent the bank in the eviction process and I was nervous (again). My nerves are wired lately- since most of my assignments are still in legal proceedings. So here I was in court , looking front, back and sideways to know where the previous homeowners are seated. I did not see them -whew, I was off the hook! But then the lawyer for the bank called me and told me to stay put and then the court clerk announced that we got to move to another department. So we did and when we opened the door , they were starting the cases already (criminal cases!). Ohmigosh! My hands were getting cold and my lips are getting pale and yet, I was able to to find me a seat and started to listen to the case intently. When I was listening to this criminal case, I momentarily forgot what I was there for. This is the synopsis: it was a drunk-driving case where this lady did not show up for her court date 15 months ago! She narrated all the bad things that happened to her why she was not able to show up. It was a string of sad stories after another. I really felt bad for her, if the judge was not convinced in her tale of woes then she will go to jail for 30 days . I was honestly rooting for her. I did not want her to go to jail since she stated that she is leading a different life and I was still whispering to myself "judge please give her a break"... and when the judge rendered his decision, he spared her and gave her probation. I was sooo thankful but the irony is, this woman just murmured a simple "thank you". She did not even show gratitude- and took off hastily like she was in the ring of fire. I was flabbergasted! This was not good and totally let me down . I did not feel sorry for her anymore and was totally incensed!!!! But the judge snapped me out of it when he called our case and "my" lawyer stood up. There, I was called back to earth again but it was a very swift decision- petition granted!!! Why? What just happened? The "defendant" did not show up. ... my precious time was gone.

Now I have to wait for the lawyers to call me again and this time with the sheriff for another eviction episode. Till next time.

Let Us All Hope And Pray.......

2008-09-07T10:57:00.000-07:00

New Shared Item: Government Seized
Fannie and Freddie

The Long and Winding Road

2008-09-05T19:07:00.000-07:00

Latest Shared Item: Foreclosures still on the Rise... Sad.

Bobcats Invade A Home in Southern California

2008-09-05T11:24:00.000-07:00

LAKE ELSINORE , CA

NICE CRIB! COOL!!!!!

Make Your Own Homemade Cleaners

2008-08-31T15:18:00.001-07:00

How much money do we spend for cleaners per month? Most of them are toxic and non-biodegradable.
For saving some money and our health's sakes...

Here are a few recipes for cleaners you can make yourself. Invest in a few spray bottles and make them before you need them. That...View >>

Thank God for American Workers, American Homeowners

2008-08-29T19:45:00.000-07:00

Labor Day: How it Came About; What it Means

Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.

Founder of Labor Day

More than 100 years after the first Labor Day observance, there is still some doubt as to who first proposed the holiday for workers.

Some records show that Peter J. McGuire, general secretary of the Brotherhood of Carpenters and Joiners and a cofounder of the American Federation of Labor, was first in suggesting a day to honor those "who from rude nature have delved and carved all the grandeur we behold."

But Peter McGuire's place in Labor Day history has not gone unchallenged. Many believe that Matthew Maguire, a machinist, not Peter McGuire, founded the holiday. Recent research seems to support the contention that Matthew Maguire, later the secretary of Local 344 of the International Association of Machinists in Paterson, N.J., proposed the holiday in 1882 while serving as secretary of the Central Labor Union in New York. What is clear is that the Central Labor Union adopted a Labor Day proposal and appointed a committee to plan a demonstration and picnic.

The First Labor Day

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

In 1884 the first Monday in September was selected as the holiday, as originally proposed, and the Central Labor Union urged similar organizations in other cities to follow the example of New York and celebrate a "workingmen's holiday" on that date. The idea spread with the growth of labor organizations, and in 1885 Labor Day was celebrated in many industrial centers of the country.

Homeownership Miscellanny

2008-08-26T17:37:00.000-07:00

Check out my current shared item-Life Skills Network Edition. Just click on the colored items and it will take you to the items that will help you simplify your life. These are the items to make homeownership a little easier, how family can stay together. Amidst this real estate turmoil, there is life after this. A simpler life,a more organized and peaceful life in your own Home.

The Hazard of Showing Properties

2008-08-19T12:54:00.000-07:00

This weekend, I was in San Bernardino County showing properties. I was so excited doing this because I am back to my meat and potatoes-- first time homebuyers. This is where everything gels for me and this is where I feel more satisfaction. Are you asking why? Because I get to educate the buyers the truth about real estate. Usually, I meet with them and listen intently on what they have to say --- their needs, their wants, their budget, their kids, their budget.. you know. And that's what I am doing again! From the last downturn cycle, I was able to assist hundreds if not a thousand first time homebuyers. After having a feel of what they are going through and getting them, pre-approved with the bank, we made an appointment to show properties somewhere in San Berdue county.

OMG, the prices are very, very good for first-time homebuyers. I cannot believe that the house I sold 3 years ago for $445k is now down to $269k. I was just flabbergasted but delighted as well that now, people can really buy. These clients, though, are exceptional. I asked for a bunch of papers, they were ready. I emailed them listings and papers to sign, I got them the next day!!!! What more can I ask for?

But then, when it was time for me to show, I hit all the RED LIGHTS in all the streets!! Bummer! A 10-minute drive just to go from one place to another took more than 30 minutes... anywhere we went. I kept my cool and never complained. In addition, the first house I showed was already in escrow. Truly, I am back in the game, I just let to get myself used to it.. And I promise you, I will never complain, I have clients...real,serious buyers.

Another Experience- Lock Out

2008-08-14T21:49:00.000-07:00

not a fun job

I know.. I know , I'd been gone for awhile but believe it or not I have been extremely busy in REAL ESTATE! I am starting to show properties, opened a couple of escrows, did an inspection, change garage doors-- ain't that great all for the love of real estate. But today is another dimension to my real estate esperience--- locking out with the Sheriff with me. I was advised by the lawyer yesterday and was instructed by the asset manager on what to do.

I woke up very early this morning ... I prayed that this lock out will go smoothly. I can feel my adrenaline flowing. This is the guy who was really tough on me. I offered him $1,500.00 a couple of months ago to move out but he said he will not move without court papers. So that day came and I was nervous to see him face to face again. I wore rubber shoes, jeans and my Century21 shirt. I was ready for anything that will happen including sprinting. Hey, you have to include that in the job description. The appointment is at 10:30, I was there at 10:15 but never dared to go near the house without the Sheriff and my key guy. When the time came-- we knocked and knocked ... nothing.. but all the doors were tightly locked. Sigh of relief. Confrontation was not in my plan that morning nor do I want kids crying because they are loosing their home. The neighbor told us that they still saw them yesterday . The man who rejected my cash for keys probably realized that it was the end. I was relieved.. I will pray for them.. and wish them luck.

Need the Stroke of A Pen

2008-07-26T21:57:00.000-07:00

LATEST SHARED ITEM: Getting Back On The Housing Track- With Conviction.

Showing A House Is NO Joke

2008-07-18T21:23:00.000-07:00

I am showing properties for the past week.. My clients want a good deal and I want to make them happy. We look... and look.. and look. There are some very good prospects-- and on paper they seem like A REAL GOOD VALUE FOR THE MONEY. I should have emphasized on the word Seem as showing these houses sound more like the Bachelor Game--what's inside that door so play with me, will you?

Door #1-- 5 Br 2.5 Ba ;swimming pool; lots of upgrades like open kitchen; huge master bedroom;great room; low maintenance backyard with swimming pool.

Reality Check: Lilac/Purplish Carpeted stairs to upstairs; peach-colored master bedroom with purple curtains; all toilet bowls are gone(eeewww); swimming pool controls-missing; A/C -Heater taken by owners; swimming pool- green algae water; backyard cement all around.

Door#2-5 Br 3 Ba; Bedroom and Bath downstairs; kitchen needs to be finished; color-coordinated rooms; swimming pool with spa;ready to move in.

Real Story: Nice travertine entrance; the door has a big hole( someone took the peep-hole, not a good sign); kitchen needs to be finished? yeah,right! they took the whole kitchen-appliances and countertops(they left the sink,yey!); and the color--super bright yellow orange(feels hotter inside than the 90 degree weather outside)in the living room and one bedroom is painted maroon-color blind; took all the lighting fixtures; and the master bath?- they even took the $15.00 medicine cabinet! Holy Batman!

Door # 3- Wonderful home with 4 Br and a Bonus Room; Swimming pool; granite countertop; deck with a pano view. All it needs is you!

The Truth ??? Gothic Design Borders; Fake Brick design in the kitchen; DIY antique painting(it looked awful); Turquoise Blue bedroom (Jack) Deep Green Room(Jill); the star spangled bathroom--gold and black... now is your imagination runing wild yet? Oh they took the backyard barbecue!

After the showing, I had a BIG headache...I bet my buyers have one too.. And no we did not choose any of the 3 doors. We'll find THE HOUSE- Soon!!!

A Noble Rescue Mission:Fannie/Freddie

2008-07-14T19:30:00.000-07:00

Shared Item # 5: The Die Is Cast... Let this be the beginning of the end.

Continuing and Developing

2008-07-12T17:31:00.000-07:00

Shared Item # 4 : Fannie , Freddie-- where are you going to, do you know?

Another One Bites the Dust/ Thanks Sen. Schumer

2008-07-12T14:12:00.000-07:00

INDYMAC SEIZED BY U.S. REGULATORS; SCHUMER BLAMED FOR FAILURE: IndyMac Bancorp Inc. became the second- biggest federally insured financial company to be seized by U.S. regulators after a run by depositors left the California mortgage lender short on cash. The Federal Deposit Insurance Corp. will run a successor institution, IndyMac Federal Bank FSB, starting next week, the Office of Thrift Supervision said in an e-mail yesterday. The regulator blamed U.S. Senator Charles Schumer for creating a "liquidity crisis" after a letter on June 26, in which he expressed concern that the bank may fail.

The Many Faces of Short Sales and Foreclosures

2008-07-08T21:39:00.000-07:00

It's beginning to be a phenomenon. Although I will be the first to admit that I am into less government intervention, but when the Feds put it upon themselves to help homeowners, I was very optimistic... all for naught. Everywhere I turn, out of 50 homeowners I talked to, I only found one who was successful in their loan modification process. And most already surrendered.. defeated. It is not a very good feeling... I am still optimistic, I am still seeing the glint of light, I can still feel the ray of sunshine.. tomorrow will be today!

################################

Fame or integrity: which is more important?
Money or happiness: which is more valuable?
Success or failure: which is more destructive?
If you look to others for fulfillment,
you will never truly be fulfilled.
If your happiness depends on money,
you will never be happy with yourself.
Be content with what you have;
rejoice in the way things are.
When you realize that nothing is lacking,
the whole world belongs to you!

-Lao Tzu

A Little History Lesson

2008-07-03T19:16:00.000-07:00

Independence Day is the birthday of the United
States of America. It is celebrated on July 4th
each year in the United States. It is the
anniversary of the day on which the Declaration
0f Independence was adopted by the Continental
Congress - July 4, 1776...announcing to the world
that the 13 colonies no longer belonged to Great
Britain.  Independence Day was first observed in
Philadelphia on July 8, 1776.
Let's  pause and
Thank God for FREEDOM!

Open Doors

2008-06-30T22:32:00.001-07:00

On a LightHearted Note

2008-06-27T21:09:00.000-07:00

CHECK OUT MY SHARED ITEM # 6

W E I R D

H O U S E S
JUST FOR LAUGHS!!!!

GOOD IS GOOD

2008-06-27T18:43:00.000-07:00

slowly but surely

SHARED ITEM NUMBER 5:

Existing Home Sales RISE on Price drop.

2% may not be much but any good news in real estate is always welcomed. The market can absorb the anticipated glut of foreclosed homes as long as there are loans available. As I always advocate, housing is a primary necessity. No amount of hardship can stop us people from finding a place we can call our own. A place where we can rest your head after a long day's work, where the family gather to create wonderful memories, where you are the King or the Queen ,where friends pay a visit and where kids feel secure and yes LOVED . This place can be called an abode, a dwelling, a habitat,a house and most importantly a HOME...

---Laarni

OPPORTUNITIES ABOUND

2008-06-25T21:24:00.001-07:00

SHARED ITEM NUMBER 4:

New Home Sales Near Historic Lows

Attention: Firstime Homebuyers, the door is wide opened. Take your pick, the only limit is your imagination. And here I am with my cliche': Behind the clouds, the sun is still shining.

FOLLOW THE WAY

2008-06-24T07:13:00.000-07:00

There is only one way to happiness, and that is to cease worrying things which are beyond the power of our will.
-Epictetus -
Seconded by Tom Kunz, President of Century 21 in his interview with Orange County Register 6/23/2008:
"My dad taught me many years ago that you’ve got to focus on the things that you can control. I don’t have any control over the economy, be it local or national, over interest rates or any other fundamentals. But what we do have control over as real estate professionals is the number of contacts that I would make if I were an agent right now."

Laarni's take:

In all aspects of our lives and in any type of career we have, we can only do the things within our grasps. The woulda, coulda, shoulda attitude will only lead us to pain and misery.

SUPPLY and DEMAND- What are you willing to pay?

2008-06-21T09:02:00.000-07:00

Reality Ranchette By: Paul Pastore

A house is only worth what a buyer is willing to pay, regardless of the seller's inflated expectation. The seller's role is to make any decisions, not tell the agent what to do, and what the property is worth.

Recently, I went on a listing appointment. The executor of the estate was a family friend. His mother had passed away and left a house on 5 acres. There were three separate parcel of land that could be split. The recent estate appraisal was around $600,000. The seller felt the property was worth 1.8 million!

The property was built in 1961 and had functional obsolescence. The seller felt it was "one of a kind". The property was on a dirt road. The seller felt "it was in the best part of town". The property had some views. The seller felt it was "comparable to a mountaintop lot that recently sold". The kitchen was dated. The seller felt it would give the buyer the opportunity to expand the house. The lot had horse privileges but no equestrian set-up. The seller felt the buyer could easily blade the sloping lot. There was a shingle roof. Most newer properties in the area had tile roofs. The seller felt all roofs were the same.

A family friend told the seller what he wanted to hear. A local 'hungry' Realtor confirmed the rumor. A banker told his client it was worth 1.5 million without supplying any 'comps'. A part-time, out of the area, real estate relative concurred with the banker's speculative assumption. And, a doctor told the seller if the property didn't sell at 1.8 million, he should increase the price! Welcome to realty ranchette.

Most people feel they are younger than their age. Many people feel they weigh less than their bathroom scale would indicate if they ever hopped on board. Why get a physical when you feel fine? It seems everybody is an expert on raising kids and rputting a price tag on their "reality ranchette".

Laarni's Take: I just had this type of clients last summer. I wanted to list the property at $475,000 but they wanted $550,000. Although I was armed with my currents sales and listings in the area, they insisted on their price. As a compromise, I agreed to list it at that price for 2 weeks and then lower it if there is no activity. I also asked them to clean the house and get rid of the clutter which they did. First open house, bammm, I got an offer for 450k and was so excited because that was my target price. They rejected it outright. I was flabbergasted! I can still hear her " If it is not closed to 550k, we do not want to see it". They only owed 160k and they bought the house for just 145k. I will admit that I lost my power of persuasion on them. The things I've learned from Zig Ziegler and Mike Ferry did not WORK! Furthermore, the cleaning part deteriorated. I did my best because that was my fiduciary duty to them but when they were asking me to renew my contract, I graciously turned it down. It was a waste of time for the both of Us. In today's market, they will be lucky to get 375k on their "ranchette".

LET'S MAKE SOME MONEY

2008-06-20T19:57:00.000-07:00

IF YOU THINK YOU HAVE THE HEART FOR THIS,

PLEASE READ MY SHARED ITEM # 3,

Smart Ways to Profit from Foreclosure

Make some Money Along the Way ..........

HELLO SERIOUS SELLERS - STAGING IS THE BUZZWORD

2008-06-18T06:47:00.000-07:00

Before- courtesy of Newsweek

After-courtesy of Newsweek

Focus on Staging: According to industry experts, staged homes sell for 3 to 10 percent more than non-staged homes and are off the market 32 percent faster.

1 Effective home staging is particularly important given today's growing inventory of homes, which spells more competition for you, sellers as buyers enjoy ever-more choices. Now, we'll first share the latest advice from experts on interior staging that can help you sell your house, faster — without hiring a professional stager. Then we'll follow up next month with must-know tips for maximizing a home's exterior landscape to entice buyers from the first glance. Part 1: Make a Powerful Impact With "Power Staging" The inventory of homes for sale in most areas of the country is hitting record levels, making it more difficult to sell your clients' homes promptly and at a fair price. In addition, today's buyers are growing bolder in their demands — and growing bored with what they see, according to a recent article in Builder magazine. 2 So how do you make sure your property doesn't get lost in the shuffle? Try "power staging" — changing just a few key elements in a home in a short amount of time, for the most impact. Consider these latest tips to use power staging to your advantage. 1. Leverage a lifestyle theme. This can help buyers see themselves in the home — reading a book in the living room, cooking a gourmet meal and so on. 3 According to Staging101.com * and other industry sources like RealtyTimes, 4 * the key is to accessorize rooms and set a mood that matches the personality of the home and the lifestyle of likely buyers. For instance,set the dining table for an informal, intimate dinner for two; if it's a formal Victorian, set a more elaborate table with elegant china. 2. Clear the clutter. Countertops, cabinets, closets, garages, basements and attics are technically storage spaces. But potential buyers can be distracted by Your belongings. It is encouraged that sellers purge the home of anything not used every day; a rented off-site storage unit can temporarily hold the excess. 3. Generate grander spaces. Less furniture makes spaces seem larger, remove what's not necessary. Improve traffic flow, too. Some experts recommend "floating" furniture away from walls and into the center of rooms to make areas feel more open and appealing.3 4. Reap the rewards of replacements. Replacing items like curtains and blinds, doorknobs, cabinet and drawer handles, lampshades and throw pillows can update a home instantly, according to Karen Tibbets' Orlando Home Staging blog.*5 Replacing rugs (and even bath and kitchen towels) can make a quick difference, as well. 5. Be careful with color. According to professional stager Craig Schiller,* wallpaper is out and paint is in.3 So strip out wallpaper and paint walls with neutral colors like beige, taupe or soft green. Experts recommend staying away from white or bold-colored walls. 6. Light the way. Avoid dim, harsh or cold lighting. Aim for warm and balanced lighting in a combination of sizes and locations.3 Let natural light in whenever possible. That means crystal-clear windows, too, so please clean windows thoroughly and remove screens if necessary. 7. Finish with floral. Indoor flowers and plants are must-have staging tools, according to experts, since they tend to soften and add life to rooms. Aside from the familiar bouquet on the dining table, consider placing flowers or greenery in the entryway, bedrooms and bathrooms. Small pots of herbs work well in the kitchen. More InformationBe sure to check out some of the industry's most popular blogs on the topic, including Home Staging Rants and Ravings .* HGTV.com * also has a great list of tips. You can find examples of staging successes at ActiveRain.com.* And if you are not living in their home but still want the property to give off that warm, personal feeling, you could bring in a home manager to maintain the lived-in look. 6 Home managers live in for-sale homes, keep them in spotless condition and ready to show at any time, and are prepared to pack and leave in less than two weeks. Find out more.*

IT'S NEVER TOO LATE TO CONNECT

2008-06-16T17:18:00.000-07:00

A couple of months ago, I joined the social group ,LinkedIn , to find a new way of widening my horizon and finding a way to expand my business exposure. I joined without any expectations. I did not even take it seriously since the other web-based social groups I already joined did not go anywhere. As the name implies-- the social part of it carries more weight than anything. I had the same notion on this one, in fact I almost got banned and I still am under precautionary measures to know the e-mail addresses of the people I want to invite.. In my hurry to come up with lots of connections, I invited 927 people from my college and more than a thousand people where I had my post grad.. duhh. 95% of them said they don't know me and having this comment can get you banned. I totally embarrassed myself, BIG TIME! After getting this comment one after another, I read the rules, studied it and took it seriously.

By doing this I was able to connect and still connecting to people who have high hopes and aspirations. Individuals who want to make it in the business world- Architects, Engineers, Computer Wizards, Import-Exporters, Artists, Finance Geniuses, Mortgage Bankers and yes, Real Estate Agents- people from different walks of life. Each and every link I make adds value to my profile, to my work. Since there is also th added dimension of joining a group which includes being an Angel or Lakers fan to SalesBlogcast group, how can you loose?? And most of the ones I connected with, take these challenges seriously.

And here, I was found by an agent from the Bay Area who gave me a referral for a property that's located in Southern California. That was an unexpected surprise!!! We closed that deal in two weeks. It was not a big amount but the idea of some stranger trusting me to consummate this transaction is just awesome. Totally Awesome!!! Right now, I got some "hopefuls" in the pipeline, again from my Connections... I am glad I found these people. They added another dimension to my career, to my life. So come, join me-- I'll link you in!

http://www.linkedin.com/in/laarni

A HOME IS A HAPPY PLACE

2008-06-12T21:16:00.000-07:00

Happiness is a common word but an elusive feeling. People climb mountains, change religion, go to the ends of the earth to find happiness. In this period of struggle among homeowners, among families-- happiness is more important. It's as precious as gold, as valuable as breath.

Try my Shared Item Number 2--- So Many Ways to Be Happy.
click on:

The Seven Habits of Highly Happy People

on top right

MEAN, MEDIAN AND MODE IN SOUTHERN CAL

2008-06-11T10:11:00.000-07:00

Statistics is a very interesting subject:

ORANGE COUNTY:

1,461 SFR closed sales transactions
$555k median sales price
23% price decline from April 2007
520 CONDO closed sales transactions
$390k median sales price
16% price decline from April 2007

LOS ANGELES COUNTY :

3,598 SFR closed sales transactions
$450k median sales price
21% price decline from April 2007
814 CONDO closed sales transactions
$380k median sales price
15% price decline from April 2007

RIVERSIDE COUNTY :

2,219 SRF closed sales transactions
$284k median sales price
31% price decline from April 2007
350 CONDO closed sales transactions
$226k median sales price
29% price decline from April 2007

FACTS ARE FACTS

2008-06-08T19:23:00.000-07:00

There is a REASON for This..The main factor behind this foreclosure surge remains the decline in home values. Additionally, a lot of the 'loans-gone-wild' activity happened in late 2005 and 2006 and that's working its way through the system. The big 'if' right now is whether or not the economy is in recession. If it is, the foreclosure problem could spread beyond the current categories of dicey mortgages, and into mainstream home loans," said Marshall Prentice, DataQuick's president... AMEN! (Laarni's comment)

ANOTHER HARD FACT

Gauge the So Cal Affordability Index-
But Where are the Mortgage Programs?

Lending institutions sent homeowners 113,676 default notices during the January-to-March period. That was up by 39.4 percent from 81,550 the previous quarter, and up 143.1 percent from 46,760 for first-quarter 2007, according to DataQuick Information Systems.

SIZE MATTERS-- Kaufman and Broad Case Study

2008-06-04T19:37:00.000-07:00

GLOBAL WARMING- REAL ESTATE STYLE

2008-06-04T06:14:00.000-07:00

Mortgage meltdown: Think you're unaffected? Think again
Jun 1, 2008 - McClatchy Tribune Business News

Jun. 1--Virtually everyone is suffering from a mortgage hangover.

Even homeowners who never have missed a payment. Even people who already have paid off their mortgages. Even renters. The financially lethal cocktail of risky high-rate mortgages and naive borrowers has taken a toll in many neighborhoods across central Ohio. A wave of foreclosures during recent years has pushed property values downward for the first time in decades, a ispatch analysis found. Thousands of families have lost their dream homes. Their neighbors, surrounded by orange foreclosure stickers and for-sale signs, have seen their homes lose value as abandoned houses blight their communities.
And many renters have been pushed out of the r homes because of their landlords' problems. The worst might still lie ahead. Interest rates are scheduled to jump this year and next on another round of high-rate mortgages, known as subprime loans -- typically adding hundreds of dollars to monthly mortgage payments. "Subprime is going to destroy neighborhoods," said Bill Faith, executive director of the Coalition on Homelessness and Housing in Ohio. "It's hurt more people than it ever helped. It encouraged a culture of recklessness by everyone." To measure the damage and the looming challenges, The Dispatch has investigated the effects of the mortgage meltdown.
The three-day series kicks off today. Mortgage stories -- Bursting bubbles -- Tax relief not coming as house values slide -- Tax appraisals factor out foreclosures -- Benjamin J. Marrison commentary: Housing-crisis series merits close attention
© Copyright 2008 NetContent, Inc.

ON THE FLIP SIDE....

2008-05-31T19:04:00.001-07:00

Please click on my shared item # 1. I ain't lyin'- Real Estate Realities-- Show me the $$$$$$$

WAY TO GO

2008-05-29T21:14:00.000-07:00

THE BEST IN THE WEST!!!!!
GO LAKERS!

IT IS WHAT IT IS

2008-05-27T11:53:00.000-07:00

S&P: US HOME PRICES TUMBLE A RECORD 14.1 PCT IN 1Q: U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen. Standard & Poor's/Case-Shiller said its national home price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988. The quarterly index covers all nine U.S. Census divisions.

******and THEY keep on saying the worst is yet to Come.
thanks to Levine Breaking News and Drudge Report for the pics. Can you tell that I am working for Century21?

Halloween in May!

2008-05-23T12:25:00.000-07:00

Home Resales Decline
By Shobhana Chandra

May 23 (Bloomberg) -- Sales of previously owned homes in the U.S. fell in April and the supply of unsold properties reached a record, signaling no let-up in the 27-month housing slump.
Purchases declined 1 percent to an annual rate of 4.89 million, higher than forecast, the National Association of Realtors said today in Washington. The median price fell 8 percent from April last year, the second-biggest drop.
`There is no indication that things are improving,'' said Christopher Low, chief economist at FTN Financial in New York, who forecast sales would drop to a 4.9 million pace. ``Inventories will stay out of balance at least until the end of 2009 and prices will keep falling.''
Defaults on subprime mortgages have prompted lenders to restrict credit, while falling property values have given buyers who are still able to get financing reason to delay purchases. The slide in home values may hurt consumer spending, which accounts for more than two-thirds of the economy.

Laarni's take: The first and foremost reason why we cannot get out of the doldrum is the scarcity of loan programs and the slow pace in underwriting. Everybody is AFRAID to do Anything Substantial. The ones who are suffering the consequences are the ONES who are really qualified to buy. I got a sale through ChFA that has been in underwriting for almost 90 days!!! Totally ridiculous. I feel like everyone is even fearful of his own shadow!!! This is almost like a LOOONGGG Halloween where everyone is spooked!

WE WILL NEVER FAIL!

2008-05-19T06:32:00.000-07:00

Housing starts post surprising rebound!

"I have learned this at least by my experiment: that if one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours."

Henry David Thoreau

AMIDST ADVERSITIES

2008-05-14T23:09:00.000-07:00

I AM TAKING A PAUSE AND A BREATHER .............

G O L A K E R S ! ! ! ! ! ! !

THE RISK FACTOR

2008-05-14T08:19:00.000-07:00

FHA premiums to be based on risk

Pricing plan coincides with FHA expansion

The Bush administration proposes to implement "risk-based" pricing of premiums paid by borrowers with government-backed loans beginning July 14 -- the same day guidelines for FHA loan guarantee programs are to be expanded to serve more delinquent borrowers.

The more flexible pricing structure, which would also allow FHA to reduce mortgage insurance premiums for some borrowers with good credit, is intended to enable the government to serve more troubled borrowers while protecting taxpayers from losses, HUD officials said. The proposed change in pricing will be published in the Federal Register for public comment on May 13.

Under the current pricing structure, all borrowers regardless of their credit standing pay 1.5 percent of loan balance up front and 0.5 percent a year. Under risk-based pricing, the upfront premium will range from 1.25 percent to 2.25 percent.

On a $150,000 mortgage, the difference between the existing 1.5 percent upfront premium and the 2.25 percent premium is about $7 per month, HUD says.

Risk-based pricing has been a controversial aspect of so-called "FHA modernization" legislation, with some opponents worried that borrowers who can least afford the fees will be overcharged. A sweeping housing bill approved by the House on Thursday would require FHA to refund extra premiums charged to higher-risk borrowers if they do not default on their loans.

The Bush administration says it needs to implement risk-based pricing to ensure that claims filed by lenders when FHA loans go bad are covered by premiums collected from borrowers, and not paid by taxpayers.

"By charging different premiums, FHA will operate like most other insurance companies," HUD said in a statement. "This premium structure will preserve lower premium costs for FHA's traditional borrowers, including low-income and minority families who have a strong credit history and save for a down payment."

Claims against FHA's insurance fund are expected to rise, in part because FHA loan limits have been increased to as much as $729,500 in high-cost markets, and also because of a new program aimed at helping troubled borrowers refinance into more affordable loans.

The new FHASecure program, rolled out by the Bush administration in August, was originally designed to help borrowers who had fallen behind on payments on adjustable-rate mortgage (ARM) loans after an interest-rate reset.

On April 9, the administration expand the FHASecure program by creating two new categories of eligible borrowers:

Borrowers with adjustable-rate mortgage (ARM) loans who were late on two consecutive monthly mortgage payments or at two different times over the previous 12 months. FHA will require a 97 percent loan-to-value (LTV) ratio for these borrowers to refinance into a government-backed loan -- which in many cases would require lenders to write down some principal.
Borrowers with ARM loans who were late on three consecutive monthly mortgage payments or at three different times over the past 12 months. FHA will require a 90 percent LTV ratio for these borrowers to refinance.

HUD said the expanded FHASecure guidelines are set to be implemented on July 14 in conjunction with risk-based premium pricing.

HUD estimates that FHASecure has helped 150,000 borrowers refinance since the program was launched and that the expanded guidelines will help as many as 500,000 homeowners take advantage of the program by the end of the year. FHASecure accounted for $28.5 billion of the $68 billion in loans FHA has helped facilitate since September, HUD says.

Democrats are pushing for an even bigger, $300 billion expansion of FHA loan guarantee programs to enable up to 2 million FHA-backed refinance loans in cases where lenders agree to accept no more than 85 percent of a property's current appraised value. That plan, which is opposed by the Bush administration, is part of the housing bill HR 3121 approved by the House Thursday.

***

What's your opinion?

My opinion-- it is taking FOREVER for these policy makers to sort this out. Buyers and Sellers alike are all WAITING FOR THE FINAL WORD. I have Sellers telling me that they will wait to sell because they have heard the by next year, the market will go up.. on the ohter hand- Buyers are waiting because they have heard that the market has not reached its bottom. I am one confused Agent!

HARLEY DAVIDSON and the GOOD SAMARITAN

2008-05-05T20:09:00.000-07:00

I had been stirred and shaken lately( like a good martini). Last Thursday, after dropping off my son to school , my mind was already thinking of how the 91, 5, 101 and the 170 freeways would look like. It was a VERY ordinary day but I was running late and I still needed to get gas. That was another 15 minutes addition to my hectic schedule notwithstanding the price to fill up my tank. Darn!!! On my way to take the 91 Freeway, on a light street traffic- this guy in his motorcycle passed me by. He was on his Harley Davidson, got his shades, his plaid shirt and his shiny chrome-like helmet and I can see he was enjoying the mild spring weather. I was asking myself how would it feel to ride that hog. I will be the first one to tell you that I am a total coward. I cannot take big risks nor do something just for the cheap thrill. NO, NO- no rollercoaster rides for me. The biggest thrill of my life is CLOSING MY ESCROWS! What a life!!! But once in a while my mind wanders, these motorcycle guys look TOO COOL especially when they are weaving in and out of the lanes. But this guy was just going straight and following all the rules in the Harley Davidson book of traffic. Then suddenly....BAAAMMMMM! He was hit by the tail of the 12-wheeler who was making a left turn in front of us. The driver of the big trailer did not notice him but he flung probably a good 12 feet. OMG, he was rolling along but I just cannot stop or else I will cause an accident myself. So I parked my car on the right side of the road and called 911 PRONTO! I explained to the dispatcher where I was and what happened. I knew I was shaking and trembling. S he even took my number. This is the first time I've seen this type of accident thisclose and it once again affirmed how fragile life is. My 911 call helped. I saw the police cars and saw the firetrucks rushing by within 2 minutes of that call. I prayed for the man. I hope he is alright now.

I drove on my way to my appointment- I was not late, I got the listing. I probably did something GOOD that day...

A HOUSE CANNOT BE A HOME

2008-04-29T22:01:00.000-07:00

Myth of the Walk Aways

by Zubin Jelveh Apr 29 2008 lifted from portfolio.com

Abandoned homes are a questionable symbol of the housing crisis ...So who exactly are the mortgage walkers?

Homeowners that analysts believe are most likely to cut their losses are those who took out subprime loans on investment properties. That group accounted for 5.3 percent of subprime loans originated in 2006 and 2007, according to Inside Mortgage Finance. This translates into roughly a little under 250,000 homes. The speculators most likely to dump houses are also ones who saw the biggest price drops, bringing this at-risk number down even more.

As for the rapidly growing websites, they also have the advantage of starting from a low base. The actual number of clients they've reported is still tiny: HomeFreeMe has had about 80 clients since launching in February, and Carlsbad, California-based YouWalkAway.com has served about 200.

For his part, Treasury Secretary Henry Paulson reportedly held a meeting with top lenders and servicers last week and urged them to come up with a plan to help underwater borrowers. (Paulson was also said to express his frustration over the lack of granular data on these borrowers.)

The lesson here is that as banks and federal officials work to reduce incentives for walking away, and as lenders become more willing to negotiate with delinquent borrowers, there is a good chance that we've already seen the worst of the walk aways.

.....

THE NEW ECONOMIC POWER

2008-04-28T20:28:00.001-07:00

ENOUGH SAID..

SPRING CLEANING 101

2008-04-28T11:18:00.000-07:00

It's that time of year again. Clean house, clean minds.. check out these tips to make housecleaning easy as the spring breeze:

1. Thoroughly dust your home. Also clean any air conditioning and heating filters, ducts, and vents to minimize pollens and other airborne allergens.

2. Organize your medicine cabinet. Throw away expired medications and old prescription medicines that you no longer need.

3. Inventory your garage and/or basement. Get rid of any old paint, thinners, oils, solvents, stains, and other similar items you no longer need. Note: You may need to take these items to a hazardous waste drop off center.

4. Inventory under your sinks and around your house. Dispose of old or potentially toxic cleaning products. Have your chimney professionally cleaned. This will help you lessen the chances of carbon monoxide exposure when the cold weather returns.

5. Clean all mold and mildew from bathrooms and other damp areas. Use non-toxic cleaning products. Check your rugs. Make sure that rugs on bare floors have non-skid mats and that older or dusty mats are either washed or replaced.

6. Inspect outdoor playground equipment. Make sure that all elements are sturdy and safe, especially guardrails, protruding bolts, and other potential sources of injury.

7. Change your batteries. Do so for both smoke detectors and carbon monoxide detectors.
Collect old batteries throughout the house for disposal. Dispose of them in a battery recycling or hazardous waste center.

8. And make it easy on yourself - take it one room, one cleaning task at a time. You'll be more likely to accomplish more if you tackle each spring-cleaning project separately. And that's great advice...any time of year!

YOUR HOUSE OUGHT TO BE IN PICTURE

2008-04-25T17:14:00.000-07:00

I was assigned to do a BPO (in Real Estate parlance, it means Broker's Price Opinion) near the office where I work. It was just asking for me to take the street scene and the exterior of the house. When I arrived, the garage door was opened, their 2 SUVs are out. This is unusual for me, for more than a hundred times I've done this, I have not been in a situation where the homeowner was home. It was either the house was already empty or they were out to work. I was hesitant to ask, my imagination ran wild. What if they were disgruntled homeowners? What if they go postal on me... I will be the headline in the OC Register : "Real Estate Agent Trespassed, Gunned Down!" .Will this go world-wide? Oh- My - Gosh!!! That is the Drama-Real Estate Queen in Action! I then did not get out of my car for a while, I thought I was ready for them with my business card. Darn! I changed my purse this morning, I did not bring any of my cards. Impish and hesitant (the headline is "looping" in my head), finally came out of my car and approached the couple in the garage and said Hi-with my right hand automatically waving. He was tall , muscled, long haired and with a couple of tatooes on his arm while she was petite and cute. I can hear the kids inside the house playing. And now my schpeel (my business card would have helped) "Hello, I was sent by your bank to take some pictures of the front house". Initially, she said "OK while he was looking at me intently" then she asked another question " what bank?". I honestly don't know but I cannot say that. My credibility is totally sunk at this juncture. His looks could have melted me right there. Wait a minute , I brought in my paperwork- my assignment from the asset manager. I literally ran to my car to get my paper and showed it to Him... As I approached him, I read his tatoo- the same name on my assignment! "Here it is and look it has the same name as your tats..." coyly I said. 'Oh yeah, that's me! " he exclaimed. Sigh of Relief...Now We are connected. This time with authority I asked, "Can I take some pictures......"- both of them said YES! I am totally relieved...

PERSPECTIVES

2008-04-24T18:20:00.000-07:00

thanks to breitbart.com

EXTRA! EXTRA! READ ALL ABOUT IT!!!

New home sales plunge to lowest level in 16 1/2 years

Thursday April 24, 6:16 pm ET
By Martin Crutsinger, AP Economics Writer
thanks to yahho.com/finance

New home sales plunge to lowest level in 16 1/2 years, prices drop by largest amount in 38 years

OR

Two major US bulk retailers (Sam's Club and Costco) are rationing the sale of large bags of rice to consumers amid a growing global food crisis marked by skyrocketing prices and heavy pressure on demand. lifted from Breitbart.com

This is hitting closer and closer to HOME.

WHERE HAVE ALL THE PEOPLE GONE

2008-04-23T08:25:00.000-07:00

Just been to San Fernando Valley where we used to have a real estate office. Got to close it about 6 months ago, included in" falling on hard times" category. I went through this road so many times, can drive through there with my eyes closed except when CALTRANS are doing road repairs. Yes, six months had passed, so many things had changed-- I have to literally look back to make sure that what I am seeing are not phantasm. In one whole block, all the grass are dead, the weeds are starting to grow aimlessly like they are supposed to but not in front of these houses, Christmas lights are still strewn, Trash all over-1,2,3 Houses... I just can't count them all but I had to do double takes on them. It is starting to get bleak. Considering that these were the most affordable homes you can buy during the "hey" days, I cannot imagine what is going on to these families' lives. What is the "PLAN"? Where is the next move? What happened to "Cleanliness is Next to Godliness"... I guess it does not matter anymore.

EARTH- THE ONLY HOME WE'VE KNOWN

2008-04-20T23:58:00.001-07:00

10 Ways to Live Greener Today

Thanks HGTV, Happy Earth Day! Everything starts in our Home.

1. Get a High-Efficiency Showerhead
2. Recycle Water in Your Bathroom
3. Compost
4. Purchase Green Power from Your Utility
5. Improve the Efficiency of Your Existing Hot Water Heater
6. Use High-Efficiency Outdoor Lighting
7. Replace High-Use Indoor Lights with Compact Fluorescents or LED
8. Load Up the Washing Machines
9. Drive Smarter
10. Avoid the Daily Waste of Fast Food and Shopping

WE NEED TO HEAR THIS WHILE READING IT

2008-04-18T08:06:00.000-07:00

H A L L E L U J A H ! ! ! !

Another try

Freddie Mac and Fannie Mae attempt to kick-start a federal program and revive high-priced housing markets by encouraging lower interest rates on jumbo mortgages

EmailPrintSingle Page Text size – + By Kimberly Blanton Globe Staff / April 18, 2008

YOUR KARMA IS WAITING FOR YOU

2008-04-16T22:14:00.000-07:00

Helped someone... used my own account to list the property just so the listing can stay in our office. He needed a break- client is a relative. Said yes, just so we can list it in the office. Fed him the leads-got a buyer-- helped him put the deal together. Closed the deal- he said Thank you though. Called our manager- getting his license back--saying the office charged too much. Been in the office for two years- first and last deal... the office charged too much!This is not the first nor the last scheming person I've dealt with and yes, it's only business- but my throat had been cut so many times. GOOD RIDDANCE-Durga wants to see you soon- your KARMA is just around the corner.

THY NEIGHBOR IS A SLEUTH

2008-04-15T18:55:00.000-07:00

While I was getting out of the commercial real estate seminar that I attended from the beautiful city of Glendale, my blackberry rang "Hi , it's me the neighbor of the house you are selling on ___
when are you going to have the gardener mow the lawn? You see, you are making the neighborhood look bad. I talked to your co-agent and she said the gardener will be here Monday and...blah-blah-blah..blah,blah,blah". I was not able to say a word for.... like an eternity? I know he meant well, he saw that foreclosed home I am selling deteriorated. He was the guy who told me that no one was staying there anymore. He was with me when I changed the key and opened the door to our horror and dismay. The carpet was extremely dirty, The clothes were strewn all over the place. He was more flabbergasted than I was. And the pool.. the pool uughh! Don't get me started in its condition. From then on, Mr. Neighbor,who is retired, put it upon himself to "take care" of "my " property. He now knows the buyers, his new neighbors. They like him. He once saw the door opened and he reported it to us... "nothing was missing" he proudly said. Tomorrow, I will make sure the lawn is mowed. I do not want to upset Mr. Neighbor. We all need ONE like him.

A Smooth Path To Homeownership

2008-04-13T23:44:00.001-07:00

A Smooth Path to Homeownership

2008-04-13T23:14:00.000-07:00

I got this Foreclosure listing in LA/OC Border City. After I was told to follow the steps required by the bank, I got a couple of buyers- the bank chose the best offer. The selling agent worked with me. This is, probably, the first time that I can remember where I did not have any sort of argument with the other agent. I will say that time is sure a changin'. The escrow closed last Friday without a hitch, it took 30 days from start to finish. No kidding!!!The new young couple- got a good buy complete with swimming pool. I am happy for them. I am glad the agent did her best for her client. I pray that they be happy in their NEW HOME.

CASH FOR KEYS

2008-04-10T19:59:00.000-07:00

They just finished dinner. I did not mean to intrude. This is the third time I went to this house that I am assigned to sell to no avail. The third time proved to be the charm. They were very nice, they let me in and I even sat at their red couch without being asked. It's the end of the day, I was getting tired. the B complex is no longer working. I explained to them my purpose for coming- I am sent by the bank to offer you some money so you can move out and I can sell this house... yada,yada, yada. The lady of the house was very quiet, the husband was cool but you can see the worry in his eyes. She spoke, where is your proof that this is bank-owned... handed her the paper. Still skeptical- who is so and so. I can tell she was not happy. I am just doing my job. I advised them to accept the cash instead of eviction... they are renting. They just paid the rent too. Too bad, the previous owner is no longer paying his mortgage. The man read the paper... put it on his table..."OK, let me think about it" he said ,again with a nervous smile. I almost said -there is nothing to think about but I bit my lip... I'll give them some time but the move is INEVITABLE... I am doing my job.

FENG SHUI AND I

2008-04-08T21:07:00.000-07:00

I am from Asia, Southeast Asia in particular where the belief in being lucky is a hodgepodge of everything from fatalism to feng shui. Since I moved here in the US I am more immersed in the latter since this becomes a part of real eatate and I have a lot more clients who want to secure their luck in their homes. Without any bit of exaggeration, I go to appointments where I have to bring a compass, know my client's birthday and make sure if he/she is water,fire,metal ,air or earth sign. This matters.
Now this is my dilemma, I am listing this property which is located on a street T. For those who do not understand, this house is directly located where the vertical and the horizontal on the T meet. And this is NOT Good News. Now in Feng Shui, the remedy is put the "eye"or "bagua" in front of the house to remove the negative energy. And this is my question... should I put up an "eye" or a "bagua" by the the garage ? Hmmmm. I think I would, for luck's sake!

Wealth, Fortune

Peace /Tranquility
Safety /Protection

HOUSES, HOUSES... ALL KINDS OF HOUSES

2008-04-05T20:17:00.000-07:00

Went to the LA County House Auction today. The locale where they held it was great... you can see the sparkling water of the Pacific, the city is getting ready for the Grand Prix, the Queen Mary, the soft wind, the bellowing voices that gave you the directions at the convention center, go straight down the escalator and you'll find a massive room with about 1001 chairs, ready for the auctioneer to do his thing- from the beach to the valley. Our office has 2 properties in this auction, the people coming in were very hopeful- some are investors who are looking for deals of a lifetime, most are first time home buyers with those dreamy eyes- now "my home is within my reach". It started at 9:30, 1Br1Ba-from 149K starting bid, the merciless auctioneer did not stop 150-200-220-320---you're in, you're out, SOLD! Some Dreams dashed... all through the day that was the consistent pattern. Start low, End HIGH... Some have smiles on their faces.. the wining smile. To surmise, All was well-- 1900 homes SOLD!

THE BANK DIVAS... REALITY CHECK

2008-04-04T08:56:00.000-07:00

Compromise, Win-win situation-- I think the mortgage bankers or their reps never heard these words yet... real estate is not a pouting game. You ask for a price, the Buyers think otherwise- do not sulk and put up a tantrum. Think- Inhale-Exhale...Respond in a Civil Way. Remember you created this mess, we are helping to clean this out for you as soon as the alloted time possible. I am not used to cut-throat negotiations. I represent my clients the way they want to, the way it should be. We are not talking nickel and dime amounts.... these are millions of "hard earned" dollars, they think twice, three times before they make decisions-WE SHOULD ALL RESPECT THAT! So now I am telling you again...Think- Inhale- Exhale- Respond. Easy!

House prices 'will crash soon': Bank chiefs warn YOUR home is overvalued by 30 per cent

By SAM FLEMING and BECKY BARROW - More by this author » Lifted from the Daily Mail-UK

THE PAULSON PLAN--LET THE MONEY FLOW

2008-03-29T19:54:00.000-07:00

The Paulson plan would:
_designate the Fed as the primary regulator for market stability, greatly expanding its ability to examine any financial institution deemed to pose a risk to the stability of the system.

_shift the functions of the Office of Thrift Supervision to the Office of the Comptroller of the Currency, although ultimately the plan envisions just one banking regulator.

_merge the Securities and Exchange Commission with the Commodity Futures Trading Commission.

_create a national regulator for insurance companies, which now are largely regulated by the states.

_establish a commission to address the abuses exposed in the current tidal wave of mortgage defaults

BELIEVE...

taken from www.myfreeze.com

What Goes UP....

2008-03-28T18:07:00.000-07:00

I must admit, the real estate market ,especially in California, had a mind-boggling sky-rocketing increase in price. I never realized how wonderful it was until I looked back but at the same time, the inevitability of it coming down is just a natural reality for me and everyone in this business. Right now, no one can complain about the current prices--- a lot of homes are very affordable. There is something available for everyone. What's holding you back? Is it FEAR OR GREED? For some, it is the fear of the homes going down some more after they buy. For others, it is the greed of making more money in the near future if they get these houses at the proverbial "deal of a lifetime". Is that adage in real estate still true, "time is of the essence?". Tell me-- because Newton's law,for me. is as true as ever, prices down, interest up; supplies up, demands down. Come on, this is the chance of a lifetime, the promise of the American Dream.. until Newton haunts us back again...only in reverse, what goes down-WOULD come up.

FOOD FOR THE SOUL AND THE SPIRIT

2008-03-27T09:58:00.000-07:00

This was sent to me by my high school group @ yahoo. I am so touched....

http://www.youtube.com/watch?v=BzqwhzpfMss&feature=related

The Whys of the 11% Drop in Price

2008-03-25T15:26:00.001-07:00

Just another statistic that is surely relevant where the housing market future is heading. I am not surprised, I am not worried, I am not anxious- I, instead, am calm,cool and collected as I have seen the realities of it all. Why am I not surprised with this drop in prices:

1. The loan being offered by lenders are mostly unattainable. The straight talk that we, in the business, are anticipating did not happen. California is, according to these geniuses, a declining value area so everytime you apply for a loan- there is an automatic 5% differential on the price of the house and the loan amount. So if the client needs a 5% down type of loan- can't- you have to have 10% down- 5% for the declining value and 5% for their down payment. In short, if you are buying a 400K house using conventional loan, the minimum you need is about $58,000- broken down as $40,000 down payment, $10,000 closing costs including tax reserves and $8,000 6 months reserves. Does this look like the money that 1st time homebuyers have?

2. You ask me, why not FHA? The loan amount is up to $729,000. The lender needs to find out where the property is so it can determine the maximum loan for the borrower.This sounds like a modern-day red lining to me. Or maybe I am just exaggerating. Before they can apply for a loan. The ratio should be 42/55. For a 400k property with a 3% down @ 7% interest, the monthly payment is $2581.13 principal and interest, 416.67 for taxes, 80 for insurance and 216.67for mortgage insurance. Now do the math on how much a first time home buyer has to make in order to qualify for the loan.

3. So the options thought of are to lower the price of houses through auctions with very little input from real estate agents and some other means so some can afford them, while the homeowners who want to stay in their abode are languishing over the value deterioration of their property. I can't help but shake my head.

4. Homeowners are clamoring for loan modification and within my circles, they had been passed around, promised on and referred to agencies who are asking for money from those who are hurting so they can process their papers . THE IRONY OF IT ALL..

Right now, I will still be a Realtor- mighty proud of it but still looking for directions from those who think they KNOW..

Full Moon Rising

2008-03-20T20:28:00.000-07:00

It's 8:30 at night, Maundy Thursday- just came back from teaching how to do Short Sales, prepare BPOs and list foreclosures and I noticed the bright silvery moon-another amazing creation. If I were in the old country, I would be delving in my spirituality. In a way I am, since I am dealing mostly with homeowners who have broken spirits.My mission is to be able to explain in layman's term the reason why things are happening as they are and help our agents to do the same. The full moon- it shines so bright- I just hope that its lransluscence will transpose itself to our way of understanding what is and what will be.

We Have a Police Escort

2008-03-18T15:24:00.000-07:00

I do BPOs (Broker Priced Opinion) for lenders. A new experience ... for being paid $50.00, a police escorted us to take some pictures. Now that's law enforcement at its best!

I WANT MY BANK BACK

2008-03-14T17:39:00.000-07:00

Twenty three years ago, my husband and I bought our home for a mere $64,000.00. With this loan amount , my husband had a lot of sleepless nights. Our banker took all our information to heart. We never faxed nor e-mailed nor telephoned our information, everything was sent or personally handed off to our banker. He was very helpful. Wearing his coat and tie, he explained succinctly what we were getting into. I was not working at that time but he took into consideration that I finished college and I was taking my master's degree. He explained how much will be our monthly payment, the tax, the insurance, the deposit... everything. When we signed our loan documents, we wore our Sunday's best. It was an exhillirating experience. Yet, when we moved in our home- 2 Br 2 Ba 1,000sq. ft. home-- I felt like my world was complete courtesy of Mr. Banker. I tried to emulate him when I got into the real estate business. But as we have it right now, most banks consider us as their enemies. I can't blame them. They are hurting and so are we. It's reminiscent of "It's a Wonderful Life". And yet in the end, I know in my heart of hearts my bank and my banker will be back... SOON.

2008-03-10T17:38:00.001-07:00

2008-03-10T17:37:00.001-07:00

SPRING HAS SPRUNG

2008-03-10T17:19:00.000-07:00

The drive towards my home was a burst of colors from all the flowers that are currently in bloom. These and the unmelted snow from the caps of San Bernadino Mountains make the word serenity a reality. But there is a feeling of uneasiness about it. You see, I took some of the photos from a house that says "Bank Owned". Everyday I pass by this house, my thoughts are with the previous owners who tended these flowers. They chose color coordinated, fragrant smelling, soothing plants in the front of their home. I wonder if she misses the times that she used to water these plants with her loving hands. The season when she can finally appreciate the labor of love she put into them. Or does he think of the effort that he put in planting and choosing the right trellis for his vines? You see I've never met them but they lived about 4 houses from us. And here I am admiring the flower rainbows in what used to be their home. I hope that like these flowers, they are as resilient, they are still swaying to the music of the wind and last but not least, they are adding colors to each other' and other people's lives. Spring has sprung....indeed

WHAT ABOUT A SHORT REFI?

2008-03-05T19:25:00.000-08:00

We all heard of short sale, right? What about a "short refinance?". Most homeowners don't want to leave their home but what can they do if they can no longer make a payment due to rate adjustment. My solution,with the aid of Ha and Meng and Christine, was to propose a program called " short refinance". Homeowners can refinance their home-- with no cashout, just to lower their payment- based on the current value of the property. The loan to value will be based on how much they bought the house for and what the current value of their property. This sounds like very simplistic solution but it gives homeowners the chance to stay in their own home, avoid foreclosure and the downward spiral of home valuation. Hello, Mr. Bernanke, hello bankers, is this something that can be done? This is the pulse of our nation!

I am a Real Estate Agent, Working Morning,Noon and Nighttime

2008-03-03T18:00:00.000-08:00

The epitomy of the American Dream is to have your own home and for almost 20 years, I think I've been providing this service with nothing but enthusiasm. My real estate knowledge is only surpassed by my understanding and patience for my clients.. This current debacle cannot be considered a valley, I will consider this the abyss. I have not stopped working . My life still revolves around real estate and I believe that this is my profession. I am here to stay.

Getty Ghirardelli

2008-02-22T19:59:00.000-08:00

Getty is a pure bred Chocolate Lab who weighs around 105 lbs. He is a very and gentle dog who just loves to plop around the house. We soooo love him because he is such a gentle giant. He is so good with kids and loves to chase the birds and butterflies in the backyard. Sometimes I think Getty thinks he's human- he is not happy with just kernels of dog food-- it has to have some type of seasoning in it (his favorite is the soup of sinigang (Filipino stew)). He likes to go for a walk and he ignores the other dogs that bark from the homes we passed by. But he likes to bolt whenever I open our front door- I don't worry-he knows how to get home. Winter is not his favorite season, he cannot stand the cold but summer is another story, he spends more time in the pool than we do. Getty is really a great additon to our family...how can we be so lucky!