I saw this advertisement today in LA times. Free tickets for the Opening of the new Exhibition Hall in LA. The new RESNICK PAVILION. Check this website http://www.lacma.org if you want to know more.
I got my two free tickets.
Marianne
Thursday, September 30, 2010
Crimes in LA area and other information
LA Times has a front story today about the Crime in Your Neighborhood. They refer to their website http://www.latimes.com/crimela
Check it. out. This will tell about crimes but it can also give you a lot of other interesting information.
Marianne
Check it. out. This will tell about crimes but it can also give you a lot of other interesting information.
Marianne
Monday, September 20, 2010
$4000 in grants to first-time homebuyers in San Fernando and Santa Clarita Valley
Southland Regional Association of REALTORS® is currently offering grants to qualified first-time homebuyers who are Public Safety Responders, have a low to moderate income-level, and purchase a home within the San Fernando or Santa Clarita Valley. The amount of each grant will be $4,000 and will only be paid to qualified applicants after the close of escrow. Repayment of grant is not required.
NOTE: The grant application has recently been updated to reflect higher income limits for individual programs that do not already specify their own limits. Also, VA Home Loans are now acceptable as a financing option for homebuyers (income limits still apply).
M
NOTE: The grant application has recently been updated to reflect higher income limits for individual programs that do not already specify their own limits. Also, VA Home Loans are now acceptable as a financing option for homebuyers (income limits still apply).
M
Monday, September 13, 2010
Home Buyers - What are you Waiting for?
Right now there are NOT many buyers in the market ready to buy a property. Why not? Before May there were so many buyers that mostly all listings got multiple offers and the prices went up. I personally wrote up to 7 offers for some clients before their offers got accepted.
Then the tax credit disappeared and so did the buyers.
BUT.........
What are they waiting for?
A new tax credit? As far as I have heard there is no hope for more help in in that direction
Lower interest? The interest rate is incredible low but the rate looks
like that it is on its way up
Lower house prices? Some areas might go down more in price but if the interest
rate at the same time goes up the mortgage might be the same
More houses on the market?The inventory is quite big now. There are many houses for
sale. So don't let that be a hurdle.
Improving Local jobs? The Valley is emerging faster from recession and took a
much softer blow than the hardest-hit communities
nationwide or elsewhere in California.
Stocks up? Stocks went up 50% from their March 2009 low and various
commodities rising dramatically, some analysts believe that
leaves real estate as the only asset class still under
valued.
Multiple offers? Not many properties get multiple offers. Buyers have often
time to think about giving an offer.
Negotiation? Sellers are eager and willing to negotiate. That's true
whether it's tradiotional owners, bank-owned properties or
short-sales.
So my advice is, buyers get out and look for your new home! There are so many reasones to do it now.
If you want my help, you know, I will be there for you.
Marianne
Then the tax credit disappeared and so did the buyers.
BUT.........
What are they waiting for?
A new tax credit? As far as I have heard there is no hope for more help in in that direction
Lower interest? The interest rate is incredible low but the rate looks
like that it is on its way up
Lower house prices? Some areas might go down more in price but if the interest
rate at the same time goes up the mortgage might be the same
More houses on the market?The inventory is quite big now. There are many houses for
sale. So don't let that be a hurdle.
Improving Local jobs? The Valley is emerging faster from recession and took a
much softer blow than the hardest-hit communities
nationwide or elsewhere in California.
Stocks up? Stocks went up 50% from their March 2009 low and various
commodities rising dramatically, some analysts believe that
leaves real estate as the only asset class still under
valued.
Multiple offers? Not many properties get multiple offers. Buyers have often
time to think about giving an offer.
Negotiation? Sellers are eager and willing to negotiate. That's true
whether it's tradiotional owners, bank-owned properties or
short-sales.
So my advice is, buyers get out and look for your new home! There are so many reasones to do it now.
If you want my help, you know, I will be there for you.
Marianne
Saturday, September 11, 2010
GAS LINES, where are they?
If you are curious to know where the big Gas Pipelines are then go to this website:
http://www.npms.phmsa.dot.gov/
and press on "National Pipeline Mapping System". Then you can type in where you want to look.
I hope not you will find your house located on top of one!
Marianne
http://www.npms.phmsa.dot.gov/
and press on "National Pipeline Mapping System". Then you can type in where you want to look.
I hope not you will find your house located on top of one!
Marianne
Thursday, September 9, 2010
Walking Away from a Mortgage
I read an article yesterday in the magazine "kKiplinger's", Oct. 2010 about "Walking Away from a Mortgage" which might be interesting for you to know. It told about a man who decided he would not pay for his mortgage anymore as the value of his houses had gone down dramaticly. He lived in Florida.
Some 1.65 million homeowners received default notices in the first half of 2010, according to Realty Trac, an online marketplace of foreclosed properties. It's impossible to tell how many of those defaults were strategic, but one recent study from credit bureau Experian and Oliver Wyman, a consulting firm, estimates that fewer than one-fourth of homeowner defaults are discretionary.
Meanwhile, about 20% of mortgages, or roughly 15 million homeowners, are underwater -they owe more on their mortgages than their homes are worth - and are candidates for default, strategic or not.
Homeowners who can't keep up with payments can pursue a mortgage modification or, if that doesn't work, a short sale (selling their home for less than they owe on the mortgage with the lender's okay).
But some decides just not to do anything, just not pay their mortgages and live in their house as long as they can.
There are benefits to defaulting. While the bank pursues foreclosure, borrowers pay off other debts and save money as they live in their homes free.
In this case with the man in Florida, it took nearly a year after his last mortgage payment for his property to be auctioned off and then again it will take time before it is necessary for the homeowner to leave the house.
But walking away will make it harder to buy a home in the future. Under new rules, Fannie Mae, which backs loans from lenders, prohibits borrowers from receiving government-financed mortgages for at least seven years if they default when they can afford to pay. (You will have to wait three to five years after an involuntary foreclosure and two to four years after a short sale).
Defaulting also torpedoes your credit score - at least temporarily. You can expect a 100-150 point drop for the foreclosure and extra points subtracted for late payments.
A foreclosure can stay on your credit report for up to seven years. But if a default is your only blemish, then you might revive your credit score in as little as two years.
The man from Florida said that his fico score dropped 180 points.
Depending on where you live, banks can also pursue a deficiency judgment - that is, they can come after you for the difference if your house is sold in foreclosure for less than the loan amount. About one-third of states prohibit or limit banks' suing borrowers who walk away. These are know as non-recourse states. Unfortunately for this man in Florida, Florida isn't one of them so he had to make a settlement with the bank once his foreclosure was finished.
(part of the text is by Thomas M. Anderson) ML
Some 1.65 million homeowners received default notices in the first half of 2010, according to Realty Trac, an online marketplace of foreclosed properties. It's impossible to tell how many of those defaults were strategic, but one recent study from credit bureau Experian and Oliver Wyman, a consulting firm, estimates that fewer than one-fourth of homeowner defaults are discretionary.
Meanwhile, about 20% of mortgages, or roughly 15 million homeowners, are underwater -they owe more on their mortgages than their homes are worth - and are candidates for default, strategic or not.
Homeowners who can't keep up with payments can pursue a mortgage modification or, if that doesn't work, a short sale (selling their home for less than they owe on the mortgage with the lender's okay).
But some decides just not to do anything, just not pay their mortgages and live in their house as long as they can.
There are benefits to defaulting. While the bank pursues foreclosure, borrowers pay off other debts and save money as they live in their homes free.
In this case with the man in Florida, it took nearly a year after his last mortgage payment for his property to be auctioned off and then again it will take time before it is necessary for the homeowner to leave the house.
But walking away will make it harder to buy a home in the future. Under new rules, Fannie Mae, which backs loans from lenders, prohibits borrowers from receiving government-financed mortgages for at least seven years if they default when they can afford to pay. (You will have to wait three to five years after an involuntary foreclosure and two to four years after a short sale).
Defaulting also torpedoes your credit score - at least temporarily. You can expect a 100-150 point drop for the foreclosure and extra points subtracted for late payments.
A foreclosure can stay on your credit report for up to seven years. But if a default is your only blemish, then you might revive your credit score in as little as two years.
The man from Florida said that his fico score dropped 180 points.
Depending on where you live, banks can also pursue a deficiency judgment - that is, they can come after you for the difference if your house is sold in foreclosure for less than the loan amount. About one-third of states prohibit or limit banks' suing borrowers who walk away. These are know as non-recourse states. Unfortunately for this man in Florida, Florida isn't one of them so he had to make a settlement with the bank once his foreclosure was finished.
(part of the text is by Thomas M. Anderson) ML
Sunday, September 5, 2010
FILM: TEMPLE GRANDIN - AUTISM was her challenge
FILM: TEMPLE GRANDIN - Autism was her challenge
Fantastic film. Anyone who has the slightest interst in AUTISM should see it. What a film and what an actress that can play her. Claire Danes should have an Oscar for that role!
Great film based on a true story. You will learn something!
See it!
Marianne
Fantastic film. Anyone who has the slightest interst in AUTISM should see it. What a film and what an actress that can play her. Claire Danes should have an Oscar for that role!
Great film based on a true story. You will learn something!
See it!
Marianne
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