ACastle4u - Real Estate Info for You from Hermia

noreply@blogger.com (Hermia) — Tue, 22 Nov 2011 00:24:00 +0000

Enjoy Your Thanksgiving Holiday

Happy Halloween - We've officially added California Homes Network

noreply@blogger.com (Hermia) — Mon, 24 Oct 2011 19:40:00 +0000

Something to Think About

noreply@blogger.com (Hermia) — Thu, 20 Oct 2011 21:29:00 +0000

Delays in bank processing push likely US foreclosures until 2012, stalling recovery

noreply@blogger.com (Hermia) — Mon, 01 Aug 2011 16:55:00 +0000

Those of you who have been sitting on the fence about purchasing, please do not let this opportunity pass you by, yet once again. this is the time to jump off and use those monies you have been diligently saving towards a downpayment and finally get in the game. following is an article that really does support my thoughts well.:

Report: Delays in bank processing push likely US foreclosures until 2012, stalling recovery

Foreclosure activity slowed in first half of 2011

By ALEX VEIGA ; ASSOCIATED PRESS ; Jul 13, 2011 11:07 PM CDT in Money

The number of homes taken back by lenders in the first half of this year fell 30 percent compared with the same 2010 period, the result of delays in foreclosure processing that threaten to stall a U.S. housing recovery.

FILE - In this Sept. 14, 2010 file photo, a house in Homestead, Fla. sits empty, for sale as a foreclosure home in a neighborhood where half of the houses were empty and up for foreclosure. The number... (Associated Press)

Banks seized 421,212 homes in the first six months of the year, down from 529,633 between January and June last year, foreclosure listing firm RealtyTrac Inc. said Thursday.

The decline reflects lenders taking longer to move against homeowners who have fallen behind on their mortgage payments. The banks are working through foreclosure documentation problems that first surfaced last fall and an ensuing logjam in some state courts. Lenders also have put off on taking action against delinquent borrowers as U.S. home sales have slowed this year.

As the processing delays mount, however, so has the backlog of potential foreclosures _ homes that otherwise would have been repossessed by lenders this year.

RealtyTrac estimates that 1 million foreclosure-related notices that should have been filed by banks this year will be pushed to next year. The filings include notices for defaults, scheduled home auctions and home repossessions _ warnings that can lead to a home eventually being lost to foreclosure.

The delayed filings buys more time for many borrowers behind in payments to remain in their homes, perhaps giving them time to catch up or simply to stall their inevitable eviction. But it also means any eventual foreclosures will happen next year, extending the shadow of distressed properties that hovers over the market.

"The best-case scenario is we don't get back to normal levels of foreclosure activity until 2015, which means the housing market recovery gets delayed by at least a year," said Rick Sharga, a senior vice president at RealtyTrac.

And given delays in the time it's taking lenders to move a home from default to foreclosure and then sell the property, the housing turnaround could conceivably be pushed out to as late as 2016, Sharga said.

"It could be the new reality is we're going to have to accept the fact that home prices in most markets aren't going to budge much for the next several years while this overhang gradually, painfully makes its way into the market and gets purchased," he said.

In all, some 1.2 million U.S. homes received a foreclosure-related notice in the first six months of this year, RealtyTrac said.

That's down 29 percent from the same period last year and down 25 percent versus the second half of 2010.

Put another way, one in every 111 U.S. households received a foreclosure filing between January and June.

In addition to repossessing fewer homes, banks also fired off 36 percent fewer initial notices of default in the first half of this year than in the same period last year. The notices are the first step in the foreclosure process.

Foreclosure activity did pick up slightly between May and June, although lenders repossessed fewer homes than they did in June last year.

At the current pace, banks are on track to take back between 800,000 and 900,000 homes this year, down from a record of 1 million lost to foreclosures last year, Sharga said.

The firm had originally anticipated some 1.2 million homes would be repossessed by lenders this year.

Foreclosures typically sell at a discount to other types of homes, weighing down home values. As a result, housing experts say U.S. home prices are unlikely to recover until the glut of foreclosed homes on the market is cleared out.

Lenders have been careful not to unload all of their foreclosures on the market at once, and have financial incentives to continue doing so. But the prospect of more foreclosures hitting the market for years to come makes it difficult to predict when home values will stabilize. And that keeps many would-be homebuyers on the sidelines.

Between April and June, it took an average of 318 days for a home to go from the first stage of foreclosure to the point where it was sold at auction or taken back by the lender, RealtyTrac said. That's up from 298 days in the first three months of the year and up from 277 days in the second quarter of last year.

The foreclosure process took longest to play out in New York at an average of 966 days, or 2.6 years, during the second quarter. New Jersey was second-slowest at an average of 944 days, RealtyTrac said.

Homes were on a relative foreclosure fast-track in Texas, taking an average of 92 days to go through the process, the fastest turnaround time in the nation.

Despite slowdown in foreclosure activity, several states continue to have outsized foreclosure rates.

Nevada continued to lead the nation, with one in every 21 households receiving a foreclosure notice in the first half of this year.

Rounding out the top 10 states with the highest foreclosure rate in the first half of this year are Arizona, California, Utah, Georgia, Idaho, Michigan, Florida, Colorado and Illinois.

Basic Qualifying Standards & Underwriting Guideline Criteria of the 2 Major Loan Types

noreply@blogger.com (Hermia) — Sun, 26 Jun 2011 21:33:00 +0000

Conventional & JUMBO Loans:

Interest rates shown above can be used for all owner occupied purchase or refinance transactions. Minimum qualifications are a 640 credit score and above for Conventional loans and 720 credit score and above for JUMBO Loans. No prior Bankruptcy's or Foreclosure's within the last 5 years. A 12 month rental or mortgage history with no late payments required. Verified income and assets known as "Full Doc" loan programs only. Property must be owner occupied. For 2nd Homes and Non-Owner Occupied property's certain restrictions and rate adjustments do apply. Loan to Value (L.T.V.) and Debt to Income (D.T.I.) ratio restrictions and rate adjustments do apply. Interest rates shown above do not reflect the total APR or any fees that may be associated, or in connection with obtaining a Home Loan.

FHA & VA Loans:

Interest rates shown above can be used for all owner occupied purchase or refinance transactions. Minimum qualifications are a 640 credit score and above. No prior Bankruptcy's within the last 3 years and no prior Foreclosure's within the last 5 years. A 12 month rental or mortgage history with no late payments required. Verified income and assets known as "Full Doc" loan programs only. Property must be owner occupied. 2nd Homes or Non-Owner Occupied property's are NOT allowed. Loan to Value (L.T.V.) and Debt to Income (D.T.I.) ratio restrictions and rate adjustments do apply. Interest rates shown above do not reflect the total APR or any fees that may be associated, or in connection with obtaining a Home Loan.
Please contact me for referrals to loan reps.

Using Unlicensed Labor Presents Risks

noreply@blogger.com (Hermia) — Wed, 22 Jun 2011 16:27:00 +0000

Around the Home: Give Your Bathroom a Green Mini-Makeover

noreply@blogger.com (Hermia) — Wed, 01 Jun 2011 04:22:00 +0000

Home Maintenance Tip -

Around the Home: Give Your Bathroom a Green Mini-Makeover

By Terri Bennett

Giving your bathroom a green mini-makeover can help reduce your monthly utility bills and save a lot of water, one of our most precious natural resources. Some upgrades won't cost you a penny, others will cost a few bucks, and a few bigger investments will bring a bigger payoff down the road. Do your part and make a few upgrades to your inefficient bathroom because it's the one room where we waste the most at home.

Let's start with the free stuff. Turning off the water when you brush your teeth is an easy way to save 2,000 gallons of water per person, per year. You can also save thousands of gallons of hot water in the shower when you turn off the water while you shampoo, shave, or lather up. Take it one step further and replace an older showerhead with a relatively inexpensive low flow model and save more than three gallons of water every minute someone is in the shower. And it's not just water you'll be saving. You are likely using heated water in the shower, so you'll also be saving energy and money because you'll be heating less water.

The biggest water hog in your bathroom is likely the toilet, especially if it was installed prior to 1994. Older model toilets need as much as seven gallons of water per flush compared to models built after 1994 that are required to use less than two gallons per flush. Replacing an older toilet with a water-conserving model is one upgrade with an immediate water conserving impact.

If a new toilet is not in the budget, there is a no-cost or low cost solution to reducing the amount of water used with each flush. It's called a water displacement device and you can make one for free with a plastic jug, some gravel and a couple minutes. Or you can spend less than $25 and buy a device that drops into the back of your toilet tank. By reducing the amount of water the toilet wastes, the average household can save about 17,000 gallons a year.

Of course, there are other things besides water that go to waste in the bathroom. Often we don't recycle all we can such as shampoo bottles, soap packaging and even those cardboard toilet paper rolls. Having a small recycling container in the bathroom will help you and your family recycle those valuable items instead of letting them waste in a landfill.

The bathroom is one room where we can really make a difference. Do your part and make a few upgrades that will have you on your way to wasting less, immediately.

Reprinted with permission of RisMedia, publisher of Real Estate Magazine

Dedicated to Going Green? Follow These 10 Easy Steps

noreply@blogger.com (Hermia) — Thu, 28 Apr 2011 20:03:00 +0000

RISMEDIA, April 26, 2011—Given the pressing environmental challenges facing the world, one day just doesn’t seem like enough to celebrate the earth and make long-term environmental changes. Why not use this month as inspiration and make a commitment to do environmentally friendly activities throughout the year?

Here are just 10 ideas, along with some online resources, that you could try.

Green your office–Establish a green team with colleagues to address ways to reduce your office’s impact. A recycling program is obvious. Other strategies could entail ridding the kitchen of disposable goods, replacing equipment that hogs energy, improving lighting and HVAC systems, installing a bike rack, and replacing grass around the office with a vegetable garden or native plants. For more information, visit www.greenyour.com/office.

Shop locally–Swear off buying stuff from faraway places, even if it saves some pennies. Just consider the impact that packaging and shipping your goods has on the environment. Instead, shop locally. Walking to shops saves energy and you also help neighborhood businesses thrive.

Make mini moves–Build new habits that will have an ongoing impact. Those could include the basics, such as switching to CFL bulbs, fixing water leaks (www.epa.gov/WaterSense), or cutting the phantom power at home.

Do an energy audit–Invest in an energy audit to figure out exactly how your house wastes energy. Even if you’re on a tight budget, commit yourself to making some of the changes the auditor suggests, and start setting aside money for costlier upgrades. Find an auditor at RESNET, www.resnet.us/trade/find-raters-auditors.

Go car-free–Reorganize your schedule so you can take public transit or walk to work and errands at least a day a week.

Become a locavore–Rely on local providers for your weekly produce by shopping at a farmers’ market or joining a CSA (Community Supported Agriculture) program. And when it’s time for gift giving, consider buying CSA memberships for friends and clients. http://www.localharvest.org/

Share your knowledge–Offer to make a presentation to colleagues at a weekly sales meeting about green changes they can make. Or pass the torch to the next generation by organizing an environmental event at a school or with a Girl Scout troop.

Raise your profile–Whether it’s a community garden, a rails-to-trails group, or a transit improvement committee, get involved in your community. Your participation raises your profile and connects you with new prospective clients, and your efforts have a direct impact on improving your community.

Learn something new–Still fuzzy on the details of programs like LEED or Energy Star? Wondering about new rebates and incentives? Spend two hours each week getting up to speed on industry programs and trends. One resource for such education is the Green REsource Council’s Webinars, one of the many great benefits available to NAR Green Designees. All the Webinars are archived at http://greenresourcecouncil.org/webinars.cfm for deisngees, and they include sessions on Energy Star, EPA’s WaterSense, USGBC’s REGREEN , LEED for Homes, and NAHB’s Green Building Program.

Refer a colleague—Find out how much colleagues have benefitted by earning NAR’s GREEN Designation and urge others to get green education. Discuss the greater knowledge you have to advise clients and how the designation has allowed you to best prepare your business for a changing world in which consumers increasingly value an efficient, sustainable housing stock. Right now, the Green REsource Council is offering a discount on the online Core Course and Residential elective. Registrants can save nearly $100 off the original price of the online courses.

For more information, see http://GreenREsourceCouncil.org/Courses.cfm.

Step-By-Step Guide for First-Time Home Buyers

noreply@blogger.com (Hermia) — Thu, 03 Mar 2011 01:01:00 +0000

Everything's easier when you break it down into steps. Purchasing a home is no different. There are the fun parts: attending open houses, fantasizing about life in your new residence and calling the moving truck.

And then there are the not-so-fun parts: crunching the numbers, filling out applications and deciphering the home inspection report. This timeline will assist you with all of the parts, whether they're fun or not.

STEP 1: Evaluate your life and finances

Before you even look at homes, take a good look at your situation and crunch the numbers to see if this is the right time for you to buy.

Owning a home is like any major commitment. You need to be mentally and financially ready for it. What stage of life are you in? Are you financially stable? Do you move around a lot? Before you even look at homes, take a good look at your situation and crunch the numbers to see if this is the right time for you to buy.

• Calculate a monthly mortgage payment you can afford.

• Create a budget for monthly homeowner expenses.

• Check your credit report and improve your credit score.

STEP 2: Do your homework

Prepare to do more research and evaluation. It may seem tedious now, but this discipline will serve you well as a homeowner.

Prepare to do more research and evaluation. It may seem tedious now, but this discipline will serve you well as a homeowner. Learn about your prospective new neighborhood if you don't live there already, and prepare for the loan process by determining where your down payment and closing costs will come from.

• Research the market where you want to buy.

• Figure out how you will get a down payment and pay closing costs.

• Using your budget, determine how much home you can afford.

• Learn your rights as a homebuyer and borrower.

STEP 3: Shop for a loan

You'll be borrowing tens of thousands of dollars, so shop for the best interest rates and loan terms.

You'll be borrowing tens of thousands of dollars, so shop for the best interest rates and loan terms. Buying a home involves more than the sales price; there are fees for every part of the process. Make sure you understand everything you're paying for.

• Learn the basics about your mortgage options.

• Shop for the best mortgage rate and loan terms.

• Get pre-approved.

• Figure out the impact on your taxes.

STEP 4: Find a house

It's time to go house hunting! Save the gas money and do some research online first.

It's time to go house hunting! Save the gas money and do some research online first. Read about different neighborhoods, and browse listings. Then get a buyer's agent to set up home tours and guide you through the process.

• Choose a neighborhood and type of house.

• See what's available online.

• Shop for a real estate agent.

• Narrow down your choices and see the houses again.

• Calculate the home's market value.

• Make an offer.

STEP 5: Sign the contract

Unless you made a low-ball offer that offended the seller, expect to negotiate. The key is to find terms you both can agree on.

Unless you made a low-ball offer that offended the seller, expect to negotiate. The key is to find terms you both can agree on. Put them in writing, sign the contract and the closing process begins.

• Finalize the purchase and sale contract.

• Shop for the best mortgage rate and loan terms.

• Choose a title company that will research the title and coordinate the closing.

STEP 6: Close the deal

If all goes well, you'll sign the paperwork and the keys are yours!

During the closing period, you'll get an appraisal, title search and exam, home inspection and homeowners insurance. If all goes well, you'll sign the paperwork and the keys are yours!

• Get an appraisal and a home inspection.

• Get homeowner's insurance quotes and pay the premium.

• Consider and plan any improvement projects that require immediate attention after you move in.

• Do a final walk-through of the house.

• Plan your big move.

How to Assess the Real Cost of a Fixer-Upper House

noreply@blogger.com (Hermia) — Thu, 03 Feb 2011 04:18:00 +0000

By: G. M. Filisko
Published: August 24, 2010

When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix.

1. Decide what you can do yourself

TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.

Do you really have the skills to do it? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs.

Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects on the weekends?

2. Price the cost of repairs and remodeling before you make an offer

Get your contractor into the house to do a walk-through, so he can give you a written cost estimate on the tasks he’s going to do.

If you’re doing the work yourself, price the supplies.

Either way, tack on 10% to 20% to cover unforeseen problems that often arise with a fixer-upper house.

3. Check permit costs

Ask local officials if the work you’re going to do requires a permit and how much that permit costs. Doing work without a permit may save money, but it'll cause problems when you resell your home.

Decide if you want to get the permits yourself or have the contractor arrange for them. Getting permits can be time-consuming and frustrating. Inspectors may force you to do additional work, or change the way you want to do a project, before they give you the permit.

Factor the time and aggravation of permits into your plans.

4. Doublecheck pricing on structural work

If your fixer-upper home needs major structural work, hire a structural engineer for $500 to $700 to inspect the home before you put in an offer so you can be confident you’ve uncovered and conservatively budgeted for the full extent of the problems.

Get written estimates for repairs before you commit to buying a home with structural issues.

Don't purchase a home that needs major structural work unless:

You’re getting it at a steep discount
You’re sure you’ve uncovered the extent of the problem
You know the problem can be fixed
You have a binding written estimate for the repairs

5. Check the cost of financing

Be sure you have enough money for a downpayment, closing costs, and repairs without draining your savings.

If you’re planning to fund the repairs with a home equity or home improvement loan:

Get yourself pre-approved for both loans before you make an offer.

Make the deal contingent on getting both the purchase money loan and the renovation money loan, so you’re not forced to close the sale when you have no loan to fix the house.

Consider the Federal Housing Administration’s Section 203(k) program, which lets qualified purchasers wrap up to $35,000 into their mortgages to upgrade their home before they move in.

6. Calculate your fair purchase offer

Take the fair market value of the property (what it would be worth if it were in good condition and remodeled to current tastes) and subtract the upgrade and repair costs.

For example: Your target fixer-upper house has a 1960s kitchen, metallic wallpaper, shag carpet, and high levels of radon in the basement.

Your comparison house, in the same subdivision, sold last month for $200,000. That house had a newer kitchen, no wallpaper, was recently recarpeted, and has a radon mitigation system in its basement.

The cost to remodel the kitchen, remove the wallpaper, carpet the house, and put in a radon mitigation system is $40,000. Your bid for the house should be $160,000.

Ask your real estate agent if it’s a good idea to share your cost estimates with the sellers, to prove your offer is fair.

7. Include inspection contingencies in your offer

Don’t rely on your friends or your contractor to eyeball your fixer-upper house. Hire pros to do common inspections like:

Home inspection. This is key in a fixer-upper assessment. The home inspector will uncover hidden issues in need of replacement or repair. You may know you want to replace those 1970s kitchen cabinets, but the home inspector has a meter that will detect the water leak behind them.

Radon, mold, lead-based paint
Septic and well
Pest

Most home inspection contingencies let you go back to the sellers and ask them to do the repairs, or give you cash at closing to pay for the repairs. The seller can also opt to simply back out of the deal, as can you, if the inspection turns up something you don’t want to deal with.

If that happens, this isn’t the right fixer-upper house for you. Go back to the top of this list and start again.

This Old House remodeling cost estimates

G.M. Filisko is an attorney and award-winning writer whose parents bought and renovated a fixer-upper when she was a teen. A regular contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

77 Surprising Expiration Dates | Real Simple

noreply@blogger.com (Hermia) — Wed, 12 Jan 2011 21:27:00 +0000

Since we are starting the new year off right, thought I would include this for your household goods.
If you would like for me to send you a copy, just email me your address to: hermia@acastle4u.com

Enjoy

77 Surprising Expiration Dates Real Simple

The Size of Home That Buyers Say They Most Want

noreply@blogger.com (Hermia) — Tue, 14 Dec 2010 20:11:00 +0000

By Melissa Dittmann Tracey, REALTOR® Magazine

The “small home” craze continues as buyers say they find less square footage more desirable. Nearly half of Americans say their ideal home size would range from 1,000-1,999 square feet, according to a recent survey by Relocation.com of nearly 1,500 home owners and buyers.

Just five years ago, the National Association of Home Builders reported the average home size to be 2,400 square feet — that’s 400 square feet larger than what buyers say they now want.

So what’s to happen to all the McMansions out there from just a few years ago when big homes were in their heyday?

Naturally, you would assume that the cost of homeownership has gotten buyers thinking smaller. But according to this survey, when asked whether cost was a main deciding factor in choosing a home, most respondents said it wasn’t very important. In fact, only 29 percent of survey respondents said that living costs was the most important reason when considering a move.

So why have buyers gotten so practical with their home buying decisions?

“As home owners rethink how much space they need, I think we’ll continue to see more innovative approaches to living well and sustainably within a smaller footprint,” said Sharon Asher, Relocation.com chairperson and founder, in a public statement about the survey results.

Other notable findings among the survey results:

Sububia reigns: The Relocation.com survey also found that 54 percent of Americans continue to find a home in the suburbs the most desirable. They want to live near the city but prefer the peace and quiet of the suburbs. Urban and rural neighborhoods were only preferred by 24 percent and 22 percent, respectively.

Main priorities in selecting a home: Neighborhood safety was an important factor in choosing a home. Buyers judged neighborhood safety by the upkeep of homes and front lawns in the neighborhood, word of mouth reputation, and local crime reports and statistics. Besides neighborhood safety, respondents also ranked proximity to decent shopping and having a large backyard as important factors in selecting a home.

Most sought-after features: Survey respondents said the most desirable features of a new residence are central air conditioning (87 percent); custom, walk-in closets (50 percent); and “top of the line” dishwasher and/or refrigerator (43 percent).

Least sought-after features: The least desirable home features were custom window coverings, followed by an in-ground pool or spa.

The ABC'S of Moving the Kids to College

noreply@blogger.com (Hermia) — Wed, 18 Aug 2010 15:40:00 +0000

By Jeff StricklerRISMEDIA, August 18, 2010--(MCT)--

Every director of college dorms has a horror story about freshman move-in day: People pulling up with overpacked rental trucks, overpacked trailers and overpacked rental trucks towing overpacked trailers.

But nobody can top Charlie Strey's story: a semi."

It was a little disconcerting to see that pull up outside the dorm," admitted Strey, assistant dean and the director of the Resident Life Office at Gustavus Adolphus College in St. Peter, Minn.

The incident happened at a previous job, not at Gustavus, where, he assured us, parents are much more level-headed. Still, it happened in Minnesota, so we're not completely off the hook in terms of group embarrassment.

In retrospect, Strey realizes that he should have seen the warning signs before the semi showed up.

"The parents called me during the summer and asked if they could send an interior designer to take measurements of the room," he said. "She did a complete makeover of it. The ironic thing was that they never talked to the roommate. He didn't like it, and they ended up taking out most of it."

Two lessons are here: Roommates should communicate with each other long before move-in day. And parents need to get a grip on their overprotective instincts.

Marjorie Savage, the parent program director at the University of Minnesota, has written the book on moving kids into dorms — literally. It's "You're on Your Own (But I'm Here if You Need Me)" (Simon & Schuster, $16).

The over-reactive parent is understandable, she said. Many of them look at this as their last chance to take care of their children before sending them off into the cold, cruel world to fend for themselves.

But learning to fend for themselves is a crucial step toward adulthood, she said."When kids are in high school, parents are encouraged to be involved," Savage said. "When the kids get to college, some parents don't understand what the appropriate level of involvement is."

She's not suggesting that you abandon your children. "You don't have to let go, but take a step back," she said. "Let your kids test the waters a bit for themselves."

At St. Catherine University, Heidi Anderson, director of residence life, coaches parents on how to handle that inevitable first college-life crisis.

"It's not that we don't want the phone calls from parents," she said. "But we want to work together with the parents to develop the students' life skills. When the students face a problem or have a concern, we give tips to the parents on how they can help the students solve the problem on their own."

Many parents also are taken aback by legally imposed distancing. By law, when students turn 18, colleges cannot share a lot of their private information with their parents — including their grades — without the students' permission."

That's a big transition for parents," Anderson said. "For 18 years, the parents have been in control. Suddenly it's their daughter who is in the driver's seat.

"The most common mistake parents make is sending too much stuff. The average dorm room is about 12 by 20 feet, with 75 percent of the space already occupied by the beds, desks and bureaus. There are things you can do to increase the floor space, such as "lofting" the beds if the school allows that. But you're still talking about a room that is smaller than some of the walk-in closets kids see on "MTV Cribs."

"We stress the theory that 'less is more,'" Strey said. "Don't bring everything you need for the whole year. You don't need your winter coat in September. Bring enough for the first two months. By then, most students either will have gone home for a visit, or they can have things shipped to them."

Clothes are something parents tend to overpack, Savage agreed. The typical college wardrobe consists of shorts, jeans and sweatpants combined with T-shirts when it's warm and sweatshirts when it's not, she said. If you want to send two or three nicer outfits for special occasions, that's fine, but limit it to two or three.

Parents also need to remember Isaac Newton's law of gravity: Whatever goes up (into a dorm room) must come down.

On move-in day, most schools have student volunteers standing by to help, but the same is not true at the end of the school year. Those two burly upperclassmen who so graciously lug your futon up to the sixth floor will be nowhere in sight when the time comes to take it back out.

Here are some dorm do's from the experts:

—Find out what the school provides. Some dorm rooms come with small refrigerators, and many have vacuum cleaners available (not that they get a lot of use). Some rooms have wastebaskets, some don't. Find out what the school bans. Most dorms don't allow popcorn poppers, others limit the number of electronic devices.

—Coordinate what each person is bringing. There might not be room for your futon and the roommate's bean bag chair. And you don't want to end up with two microwaves and no mini-fridge.

—Remember that closet space is limited. Most dorms barely have enough storage space for oft-needed items. Skis, golf clubs and the sousaphone are best left at home.—Think of things from your kid's perspective. If you have to choose between an ironing board or an Xbox, go with the latter.

—Keep decorating urges in perspective. Personalizing a dorm room is a great way to make it feel comfortable, but don't overdo. A favorite poster from home is good; a 200-piece Beanie Baby collection, not so much.

(c) 2010Star Tribune (Minneapolis)Distributed by McClatchy-Tribune Information Services.

Renting Can Be a Good Option for Sellers Home owners

noreply@blogger.com (Hermia) — Tue, 29 Jun 2010 22:17:00 +0000

Daily Real Estate News June 29, 2010
Share

Renting Can Be a Good Option for Sellers Home owners who have been trying to sell their properties for a year or more might consider lease or a rent-to-own option.A lease option agreement gives the tenant the option to buy at a predetermined price for a rent that is slightly higher than market. In a lease purchase, a buyer commits to buying the property. In exchange, the seller credits a percentage of each payment toward the purchase price.Either arrangement is likely to attract serious renters who would like to buy the property if they can. In exchange, they’ll take good care of it.Negotiating these agreements can be tricky, and the owner should always get help from a real estate attorney.

Source: The Wall Street Journal, June Fletcher (06/16/2010)

Browse all of today's news
E-mail to a friend

Allergy- and Asthma-Proof Your Home

noreply@blogger.com (Hermia) — Thu, 24 Jun 2010 15:40:00 +0000

If you are one of the millions of people who suffer from allergies, the key to relief is to control allergy triggers -- allergens. There's a lot you can do to make your home more comfortable.

Avoid Dust, Dander, and Pollen

Dust mites (really, their droppings) are the most common trigger of allergy and asthma symptoms. These tiny insects live in the dust particles that naturally collect in our homes. Pet -- and human -- dander ( skin cells) and pollen, of course, also are common culprits that trigger allergy and asthma symptoms. The key is to have as few places as possible for particles to collect on, and to keep these places clean.

•Keep windows closed and use air conditioning. Don't use fans, which stir up dust. Also keep the house dry.
•Replace wall-to-wall carpet, if possible. Carpeting traps dust. Flooring like hardwood, tile, and linoleum is better. Use small rugs that can be cleaned easily. If replacing carpet isn't feasible, vacuum it at least weekly. Use a vacuum with double bags or a HEPA (high-efficiency particulate) filter.
•Cover mattresses, box springs, and pillows with plastic cases or special allergen-proof fabric covers.
•Avoid down pillows or comforters.
•Avoid upholstered furniture, which can trap allergens; try to use only wood, plastic, leather, or vinyl furniture that can be wiped clean.
•Replace dust-collecting blinds and long drapes with window shades or washable curtains.
•Wear a mask and gloves when cleaning and vacuuming.
•If you have pets (of course, it's better for you not to have pets), keep them out of the bedroom, since we spend the majority of our time at home in the bedroom. Bathe your pets regularly as well. And keep them off of upholstered furniture.

Prevent Mold

Although there are thousands of kinds of molds, few are toxic. But household molds can trigger allergy symptoms in allergy sufferers. So avoiding mold can help you avoid asthma, congestion, and other allergy-related symptoms. And the best way to avoid mold is to avoid moisture.

•Keep the house dry.
•Don't leave wet clothes in the washing machine where mold can quickly grow.
•Wash shower curtains and bathroom tiles with mold-killing products.
•Don't have too many indoor plants -- especially in the bedroom; mold can grow in plant soil.
•Fix any leaks or seepage in the house, indoors and out.
•Put plastic over dirt in crawlspaces and keep them well-ventilated.
•Use exhaust fans in the kitchen and bathroom.
•Turn off humidifiers if you see condensation on windows.
•Use dehumidifiers and air conditioners in basements and other areas of the house where mold tends to grow, especially in hot humid climates.
•Clean dehumidifiers and humidifiers every week.
•On concrete floors, remove carpet and use area rugs that can be lifted and washed, or install a vapor barrier over the concrete.

Control Cockroaches

Cockroaches' droppings contain a protein that is a primary asthma trigger. Cockroaches need water to survive and they thrive on what you leave behind, so they'll be less likely to be a problem in a clean, dry house. Fix leaks, keep food in containers, don't leave out dirty dishes, clean the kitchen thoroughly after meals including under appliances, and take out the garbage regularly. Also block any openings through which cockroaches could enter from outside, including windows, wall cracks, and floor gaps.

from Healthwise. WebMD Features. The American Academy of Allergy, Asthma and Immunology.
WebMD Medical Reference

Reviewed by Brunilda Nazario, MD on February 09, 2009
© 2009 WebMD, LLC. All rights reserved.

WebMD Content may not be published, copied, broadcast or redistributed without the prior written authority of WebMD.

Access all of WebMD’s healthy living content at www.webmd.com

SOURCES: WebMD Medical Reference provided in collaboration with The Cleveland Clinic. WebMD Medical Reference

The Mayonnaise Jar - a Life Lesson

noreply@blogger.com (Hermia) — Thu, 08 Apr 2010 20:20:00 +0000

When things in your life seem almost too much to handle,
When 24 hours in a day is not enough;
remember the mayonnaise jar and 2 cups of coffee.

A professor stood before his philosophy class
and had some items in front of him.

When the class began, wordlessly,
he picked up a very large and empty mayonnaise jar
and start to fill it with golf balls.

He then asked the students if the jar was full.
They agreed that it was.

The professor then picked up a box of pebbles and poured
it into the jar. He shook the jar lightly.
The pebbles rolled into the open areas between the golf balls.

He then asked the students again
if the jar was full. They agreed it was.

The professor next picked up a box of sand
and poured it into the jar. Of course, the sand filled up everything else.
He asked once more if the jar was full. The students responded
With an unanimous 'yes.'

The professor then produced two cups of coffee from under the table
and poured the entire contents into the jar, effectively
filling the empty space between the sand.
The students laughed.

'Now,' said the professor, as the laughter subsided,
'I want you to recognize that this jar represents your life.

The golf balls are the important things - God, family,
children, health, friends, and favorite passions
Things that if everything else was lost
and only they remained, your life would still be full.

The pebbles are the things that matter like your job, house, and car.

The sand is everything else --
The small stuff.

'If you put the sand into the jar first,' he continued,
'there is no room for the pebbles or the golf balls.
The same goes for life.

If you spend all your time and energy on the small stuff,
You will never have room for the things that are
important to you.

So...

Pay attention to the things that are critical to your happiness.
Play with your children.
Take time to get medical checkups.
Take your partner out to dinner.

There will always be time
to clean the house and fix the dripping tap.

'Take care of the golf balls first --
The things that really matter.
Set your priorities. The rest is just sand.'

One of the students raised her hand
and inquired what the coffee represented.

The professor smiled.

'I'm glad you asked'.

It just goes to show you that no matter how full your life may seem, there's always room for a couple of cups of coffee with a friend.'

Please share this with other "Golf Balls"

I just did......

Just an Observation, especially for Short Sale Buyers

noreply@blogger.com (Hermia) — Thu, 04 Feb 2010 21:50:00 +0000

Here’s what I have been noticing lately. First time buyers who are asking for the moon but have earthly money and expectations.

Yes there are a lot of other people losing their homes. Yes you may well be able to get those homes at a lower pricing than they had originally paid for the home. Yes, you may be able to finally move into a home of your own with all the responsibilities that do go with that move. And finally yes, you may be able to take advantage of the national IRS tax credit for moving now. You may though need to take 2 steps backward as far as optimum area from where or how you are currently living to be able to get your foothold on that homeownership dream. Just remember we want/need you in a home of your own.

First let me be one of the first to congratulate you on actually FINALLY making that move. Neighborhoods are stabilized by having more homeowners than renters living there. Homeowners actually have to care more about a neighborhood and its well being than a renter and the landlords because they are supposed to be living there longer; say 10-15 years; or at least 5-7. The time goes quickly when you are trying to make this new place a home and not just a house where you live and come to rest your head at the end of a long day’s work.

We will invest a lot of time in you and are banking on your integrity and honesty with us. Kind of have an idea or a feel to what the home of your dream is. We will try to find it for you, if it’s available, now that you are ready. You need to be patient. The right house will hit you. I really do mean literally. It will hit you and you will know that you have found it. Even if you are thinking of it as a move up house/home for you. It will reach out and touch you. Or at least the neighborhood will. You will be haunted in your sleep regarding this house and very disappointed if your offer is not accepted. And super elated when it is. As you should be.

Now give your Realtor® a little slack. We should be previewing and eliminating the homes before you see it so we know what we are taking you to. Sometimes, but rarely, we will ask you to see the house without us. The circumstances would probably be that you needed to see this one immediately and we had a prior appointment with another buyer. Please go to it and let us know immediately if it’s a go or no go. It’s probably a property we think is in very high demand. Not all the houses on the market that seem to meet your preordained requirements actually do. That is our job to really weed them out so you are not wasting your time. When we say this is a house you should jump on, if you trust us, you should jump on it. Reason being if we have the money and credit, we would for ourselves. No joke. Most of us do not have the extra disposable money or credit to carry another investment property, so we will find a buyer for this house we think you should have jumped at. Ask us why we think it is such a great home for you and we will tell you. Be honest with us back though. Our feelings are not hurt if you do not agree with our choices. This is a business. You are our customer. We are not working for ourselves when we are working for you, we are working for you. Let us know what we need to tweak for you.

Now, when we tell you that you need to speak to the banker and have that pre approval letter in hand when we first meet and you will need to make sure we have updated financials on you, please help us and do it or have them ready when we write the offer(s) for you. We, personally are not interested in your personal financial shape, just can you comfortably qualify for this home and get a loan that is comfortable for you unless you are a cash buyer. It does neither of us any good to put you in a place where you may default on it 3, 6 or even a year or two out. No good at all. You will to person blame us. Even though we are the least culpable in this. We can only go by the information you and your banker provide us. Your banker knew, you knew, you knew your future financial prospects or expectations, but we are more than likely to get the harshest brunt of the blame when things go wrong in your new home purchase. If we tell you it will take 4-6 months to get an approval for that short sale home, please believe us and add on 2 more months for just in case something goes wrong or there is another delay on the seller’s part. Please believe, we want to put you in the best place for your money. Unless of course you just insist on being in a neighborhood we see no future in. There may be extenuating circumstances for your choice. Let us know what they are. We can keep this in the back of our mind when we are culling through our lists.

There are some caveats to purchasing that first home. You need to take care of it or be able to hire service providers who can for you. Paint and new carpet or flooring or the yard or lacks there of, if there is space, are inexpensive if you love the house but don’t like these items. The current homeowner did them for their family as you will for yours. The important items are, does the house and its surrounding area suit you? Construction, such as moving a toilet, adding a room, changing a kitchen and its fixtures are or can be expensive. So can be homes with no permits for the additions or changes made by the previous owner. Please do not dismiss the non permitted items. They can bury you financially. If this is your first home, I would not advise you to start there. Stick with cosmetic fixable items only.

Now back to the purchase of this your new home. Let me also just tell you now, that finding that perfect for now house for you is only 1/3 of our job. We also need to meet all the inspector, appraisers, workpeople that need access to your property, do some background research if necessary, make sure you are given in a timely manner your forms and publications, regulations information, and lastly make sure you understand ALL that you are signing. And getting your keys when they said you would.

Here’s how you can help us. Make sure and interview us. If your gut does not feel comfortable working with us; DON’T. All in all it all boils down to a gut feeling not a logical reason as to why we do what we do. You will be asked to sign a buyer agreement and you should. It holds both of us accountable to each other for the duration of our working relationship. Work with one realtor at a time. If a reputable realtor finds out that you are cheating on them or trying to undercut them, we will drop you. That said, if you do not wish to work with us anymore let use know and why. Let us know your work schedule as much in advance as possible so we can schedule showings at your convenience, unless we say we have a hot one for you to see. Sometimes we may have to write an offer sight unseen, we can always get out of an accepted contract if you do not like it once you have seen the interior. There are some things beyond our control.

Most of all though, we just want you to ENJOY YOUR NEW HOME

Herm.

Home Sizes Fall as Builders, Buyers Embrace Economic Reality

noreply@blogger.com (Hermia) — Thu, 28 Jan 2010 18:48:00 +0000

By Steve Kerch

RISMEDIA, January 28, 2010—(MCT)—New-home buyers responded to the tough times in 2009 by opting for smaller houses, driving down the average size of a house built in the United States for the first time in 27 years.

Data recently released by the National Association of Home Builders (NAHB) found the average size of a new home that was completed in 2009 fell to 2,480 square feet from 2,520 square feet in 2008. The last time the average completed-home size fell by a statistically significant amount was 1982.

“You’ve heard the mantra ‘downsize me’ and ’small is the new big?’ Well, last year was definitely a downer,” said Carol Lavender, president of Lavender Design Group, a residential design firm in San Antonio, Texas.

Homeowners surveyed by Better Homes and Gardens magazine said downsizing was becoming a bigger priority: 36% said in November 2009 that they expected their next home to be “somewhat smaller” or “much smaller” than their current home versus 32% who said that in 2008. “Not surprisingly, we see a ‘cents and sensibility’ approach when it comes to buying or improving a home, with practicality and price being the top priorities,” said Eliot Nusbaum, the magazine’s executive editor of home design
.
While the small-house movement in the United States has been gaining steam for a number of years, the recession has accelerated it and home builders have responded.

“The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home,” said Rose Quint, the NAHB’s assistant vice president for survey research. “Couple that with the energy cost concerns of consumers today and I think we will continue this trend. Houses will not shrink drastically, but they will shrink.”

Although actual square footage of homes didn’t fall until 2009, the percent of homes with four or more bedrooms in them has been falling since 2007, NAHB data show. And in 2009, the number of homes with three or more bathrooms fell for the first time since 1992.
Two other trends in home construction are contributing to the declining square footages: The prominence of first-time buyers in the housing market and the increasing number of households with members 55 and older who are buying homes.

First-time buyers, driven into the market in good part by the availability of an $8,000 tax credit, are more likely to compromise on home size in exchange for a lower price. And the 55-plus crowd tends to purchase single-story homes, which generally are smaller because of the land costs that favor the more-efficient two-story plans.

“Barely over half of new homes today are built with two stories or more,” Quint said. Two-story homes peaked at about 55% of the market in 2006. For 2010, home builders say they will focus on lower-priced models and smaller homes. More than 95% of builders surveyed by NAHB in January said that was the way they saw their business evolving this year.

The penchant for smaller homes will necessitate some design changes. Builders, attempting to respond to those consumer demands as well as hold the line on prices, told the NAHB surveyors that they were most likely to include these features as standard in their houses this year:

-Walk-in closets in the master bedroom.
-Laundry rooms.
-Insulated front doors.
-Great rooms.
-Energy-efficient windows.
-Linen closets.
-Programmable thermostats.
-Energy-efficient appliances and lighting.
-Separate shower and tub in master bathrooms.
-Nine-foot ceilings on the first floor.

Among the things that builders said they were least likely to add to houses in 2010:

-Outdoor kitchens.
-Outdoor fireplaces.
-Sunrooms.
-Butler’s pantries.
-Media rooms.
-Desks in kitchens.
-Two-story foyers.
-Eight foot ceilings on the first floor.
-Multiple shower heads in the master bath.
-Smaller kitchens.

“You can see that builders are concentrating heavily on energy-saving features,” Quint said. “But a lot of the luxury items are on the chopping block or on hold as builders try to lower costs.”

(c) 2010, MarketWatch.com Inc.
Distributed by McClatchy-Tribune Information Services.

Happy New Year for 2010

noreply@blogger.com (Hermia) — Mon, 04 Jan 2010 16:52:00 +0000

Here's to everyone starting their New Year off with a Big Bang. Herm.

Home Security and Fire Safety

noreply@blogger.com (Hermia) — Tue, 29 Dec 2009 02:57:00 +0000

For a safe home, we want to keep burglars out by locking up the doors and windows. But in a fire, a door or window with security bars or locks can keep you from getting to safety in time to save your family.
Protect Against Break-ins and Fire

• Replace deadbolt locks that need a key to open from inside. Keys can easily be misplaced when the deadbolt is locked, making it impossible to escape.

• Choose locks that use keys only outside the door or have a turning or “throwing bolt” or latch inside.

• If your home entry doors have two-keyed deadbolt locks, protect your family in the meantime by keeping the key to your deadbolt on a hook near the door, but away from any windows. Make sure all responsible family members know exactly where to find the key and how to use it quickly in an emergency.

Window Security/Burglar Bars
Security bars on doors and windows can provide a strong defense against burglars. However, that same protection can prove deadly in a fire emergency.
A home fire can grow so fast and spread so quickly that people may have three minutes or less to get outside to safety. Bars welded over an escape route not only trap people inside; they also prevent firefighters from being able to get them out. The Home Safety Council urges families to make sure security measures do not slow down a quick escape:

• If you put bars on windows and doors, choose a kind you can open from inside your home. These have a “quick-release mechanism” that lets you open them fast.

• These bars are designed so no one could reach the opener from outside and come in.

• Contact an iron contractor to have quick-release devices installed on security bars in your home.

noreply@blogger.com (Hermia) — Thu, 24 Dec 2009 06:00:00 +0000

Electrical Safety - Safety Saturday Project Starter

noreply@blogger.com (Hermia) — Wed, 16 Dec 2009 07:28:00 +0000

Cooper Wiring Devices is a proud supporter of Home Safety Council's electrical safety education.

Our homes are filled with things that run on electricity. Electricity makes our lives easier, but it can also be dangerous if you’re not careful. Electricity is especially dangerous to curious children and if it comes in contact with water.

A special outlet called a ground fault circuit interrupter, or GFCI, can prevent you and your family from being hurt by electricity. A GFCI outlet will quickly stop the flow of electricity if an electrical appliance comes in contact with water or if a ground fault occurs.

GFCI’s should be installed in outlets near any source of water in your home. If young children live in or visit your home, you may want a “tamper resistant” GFCI. These have a built-in shutter that prevents children from putting things into the outlet and getting an electrical shock.

Set aside one Saturday this month as a “Safety Saturday” and work with your family to look at all of the different ways you use electricity in each room of your home. Use the Home Safety Council’s room-by-room guide to find and fix potential hazards before a shock or other injury occurs.

Laundry Room: In most homes, a lot more than doing laundry takes place in the laundry room. With your washer, dryer and utility sink all likely in close quarters, it’s especially important to have a GFCI in the laundry room. All electrical outlets near water should be protected by GFCIs. If the outlets in your laundry room aren’t already protected, an electrician can install a GFCI for you. Also make sure all appliances in the laundry room are kept dry and away from water at all times.

Kitchen: With so many kitchen gadgets available, many families struggle to find enough outlets for their appliances. Take a look at the outlets in your kitchen and make sure you don’t have too many appliances plugged in at once. Unplug your toaster oven, coffee maker and other small kitchen appliances after using them. If you don’t have GFCI’s in your kitchen, call an electrician and ask to have them installed.

Bathroom: The combination of water and electrical appliances in the bathroom make this an important area of the home for your electrical safety makeover. Make sure the electrical outlets near your tub and sink are protected with GFCI’s or call an electrician to install a GFCI for you. Store hair dryers, curling irons and razors away from water and always unplug appliances after using them.

Nursery: Electricity can especially be dangerous to curious children. Inspect the outlets and appliances in your nursery and take steps to make sure the nursery offers a safe place where your baby can learn and grow. Install special child safety receptacles to keep children from putting things into outlets. Tamper-resistant receptacles have a built-in safety shutter that opens when a plug is plugged in, but will not open for a single object such as a key, hair-pin or paper clip. Tamper-resistant receptacles are safer than small outlet covers that can be taken in and out. Small outlet covers also present a choking danger for young children.

Visit the Safety Guide for a complete list of electrical safety tips.
To learn more about electrical safety, visit MySafeHome. Be sure to tour the laundry room, kitchen, bathroom and nursery for tips you can use to protect your family from electrical problems.

The Next Wave of Bad Loans - Option Arms

noreply@blogger.com (Hermia) — Tue, 01 Sep 2009 17:15:00 +0000

A friend of mine in Huntington Beach confided in me that they are in serious trouble with their mortgage. My friends earn good money - and their combined income is a lot higher than the medium level for Orange County; which is high to start with. I'll call my friends Lisa and Jim. They are usually investing successfully in various other commodities, but this time I think they put their home in the position of being an investment vehicle. This time, I think they are in trouble.

Lisa and Jim are in thier late 50’s and early 60’s professionals looking toward retirement in a few years; who refinanced their modest home for $750,000, at the peak of the market with an Option Adjustable Rate Mortgage (Option ARM). This loan program allowed Lisa and Jim to decide monthly which of four optional mortgage plans they would pay, each month. Since getting the loan, Lisa and Jim always chose the lowest payment - which was actually less than the interest they accrued.The plan Lisa and Jim had been to sell their home when he reached 65 and retired relocating to the Palm Springs area or Arizona. This seemed like a well thought out plan which showed they knew what they were doing at the time.

Well, the $2800 monthly mortgage jumped to $3200 with another jump to over $4600 looming in the not too distant future.The problem is that despite what appears to be a path of recovery for the housing industry there are still more than a half million option ARMs that are scheduled to reset in the next four years!

Since many of the Sub Prime mortgages have already failed more and more of the Option ARMs are failing and since February, the Option ARMS have exceeded the default rate on the Sub Prime mortgages.

The sad news for Lisa and Jim is that the home is now only worth approximately $550,000, or less, and the balance of their mortgage has risen to over $800,000; since they only made the minimum payments their principal balance went up every month.Between 2004 and 2007 over $750 Billion in Option ARMs were made and remain at risk. The real kicker is that despite the perfect payment history of many borrowers they still cannot refinance their way out of this mess, as their homes are worth so much less today than when they borrowed the money. About one third of all Option ARMs are currently in default, according to industry analysts.
In comparison to the Sub Prime Mortgages, the borrower of an Option ARM typically had much higher credit scores, better jobs and more to lose than the masses of Sub Prime borrowers who literally walked away from their homes and neighborhoods, in droves. The Option ARMs tend to have higher balances and when they reset have been known to double the initial monthly payment.

The industry is expecting to see 600,000 or more Option ARMs reset in the next 4 years. The four payment plans that Lisa and Jim and other borrowers were offered included the interest only, less than the interest (where the difference would be added onto the principal - OK, when you are accumulating equity every month - but really bites in a declining market), fully amortized over both a 15 year and a 30 year fixed-rate-mortgage.

Over 75% of all borrowers never paid more than the minimal payment - less than the current interest rate plan. This plan was set to reset at either 5 years or when the new principal balance reached a pre-determined level somewhere between 110% and 125% of the original loan. Then once the ‘cap' is reached, borrowers have to pay down a higher balance at a higher interest rate in a shorter time period.

Like so many other exotic loans, they were great products if used properly. What most homeowners in this situation need to do is once every 6 months make at least the regular payment. In most cases this will help the balance on the loan not double and helps to reset the minimum payment due. Consult with your lender to make sure this is what will happen in your case. Unfortunately industry experts expect 81% of the Option ARMs that originated in 2007 to default with many of them ending in foreclosure.

The problem is that the loans were not only offered to those for whom they were designed but to just about everyone with a decent credit score. People were not taking on these loans because they believed their income would grow over time - they were used by homeowners who believed the equity in their house would increase and that they could refinance out of the teaser rates.
The losses from Option ARMs promises to be staggering. Another industry expert is projecting at least $112 Billion will be lost by the banks as a result of Option ARMs written between 2005 and 2007.The good news, if there is any, is that interest rates remain low - so loans are taking longer to reach their cap and will not rest at the higher interest rate until they do reach the cap.

ACT NOW!!! July is the deadline for Property Tax Re-assessment in Some Counties

noreply@blogger.com (Hermia) — Sat, 06 Jun 2009 15:24:00 +0000

Property and Home Owners, ACT NOW!!! If you get this done before July 1st you could possibly get this year’s property taxes reduced in time for your next property tax billing. Proposition 8 allows for an (annual) reduction in assessed value of your home when your property suffers a “decline-in-value.” A decline-in-value occurs when the market value of your property is less than the assessed value as of January 1, 2009.

The best information you can provide that supports your opinion of the market value of your property is sales of comparable properties. Attached you will find the form for your county. If you provide me with your address, I will send you the comps for your home (free of charge).

Los Angeles:

Property owners guide to decline in value
http://assessor.lacounty.gov/extranet/guides/prop8.aspx

Other la assessor value forms
http://assessor.lacounty.gov/extranet/list/forms.aspx

Decline-in-Value Reassessment Application http://assessor.lacounty.gov/extranet/lac/control/binaryget.aspx?uploadid=193

Orange County:

Orange county assessor’s office
http://www.oc.ca.gov/assessor/

Will A Decline In Market Value Reduce My Property Taxes?
http://www.oc.ca.gov/assessor/pdf/Informal%20Review%205-09.pdf

There will most likely be another one for next year. The 2009 form had to be filed by April 30, 2009

Let me know if this was of help to you; thanks.

Remember me when you hear of someone who is looking to buy or sell or rent

Herm.
949 742 0915
hermia@acastle4u.com

noreply@blogger.com (Hermia) — Sun, 10 May 2009 23:20:00 +0000

Happy Mother's Day