Real Estate News for Monday, October 31st, 2005

What to consider when buying a home elsewhere. Aging Baby Boomers are buying second homes at a record pace. Last year alone, 377,000 single-family second homes were sold, according to the National Association of Realtors. Buying a second home for retirement, vacation or rental may be a great idea. But if you're buying outside of the area you're accustomed to, plan on ramping up your due diligence investigations. Click here to read more.

New "Price Bloat" Index Pinpoints Overvalued and Undervalued Home Real Estate Markets. Where are the most bloated prices -- and the most undervalued markets -- today? It probably comes as no surprise that among the most overvalued can be found in California, according to PMI's model. These include Los Angeles (33.7 percent over), San Jose (26.5 percent) and San Diego (22.3 percent). Las Vegas is 25.5 percent overvalued, and Phoenix-Scottsdale (22 percent.) On the East Coast, the most overvalued markets are northern New Jersey (25.6 percent), New York's Long Island (20.4 percent), Providence, R.I. (19.1 percent), Miami (20.5 percent), Tampa-St. Petersburg (23.2 percent), Orlando (19.6 percent), and Washington D.C. (18.2 percent.) Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Sunday, October 30th, 2005

"Suing city for sewer backup likely not worth the fuss." New Bob Bruss question and answers! Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Saturday, October 29th, 2005

Hi everyone! Sorry for the late post today, I had so many things to do and not enough time to do them! So let's get started...

Reality Check On the Bubble. The housing streak rests on solid fundamentals: plentiful jobs, new immigrants and rising incomes among the well-to-do and older boomers. It ain't over 'til it's over. Home buyers keep hitting real estate out of the park. The prices of existing homes rose in August at the fastest pace in a quarter century. New construction, sales of newly built homes and applications for new mortgage loans are running, routinely, at stratospheric levels. The Gulf Coast's horrific hurricane losses will scramble the numbers for a few months, but the national passion for real estate hasn't cooled. Click here for more.

Does the real-estate 'bubble' concept hold air? It's not clear who will end up being right about housing prices, but the industry has already landed one victory by muddying the linguistic waters. Click here for more.

Revealed! Secrets of top real estate producers. Hard work, organization among the keys. Spends most time with sellers. Top producing residential Realtors rely on a mix of hard work, dedication to client satisfaction, and consistent marketing efforts to stay at the top, according to a survey released Friday by the California Association of Realtors. Click here to read what the survey says.

Solano County remains the most affordable of the nine county Bay Area when it comes to home prices, according to figures released recently by a real estate information service. The median price for a home sold in Solano County in September was $481,000 according to DataQuick Information Systems. That marks an increase of 21.1 percent over the median price during the same month last year, when the average home in Solano sold for $394,000. Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Friday, October 28th, 2005

Foreclosure activity in California showed a year-over-year increase during the last quarter for the first time in more than three years, the result of lower appreciation rates and riskier loans, a real estate information service reported. Lending institutions sent default notices to 12,568 California homeowners during the July-to-September period, up 0.8 percent from 12,465 for the second quarter, and up 3.5 percent from 12,145 for last year's third quarter, according to DataQuick Information Systems. The last time default notices increased year-over-year was during first-quarter 2002 when the 30,225 count was up 5.2 percent from 28,724 a year earlier. Defaults peaked in 1996's first quarter at 59,897. Last year's third quarter was the low. DataQuick's default statistics go back to 1992. Click here to read more.

Foreclosures in the Bay Area dipped to their lowest level in 14 years during the third quarter. Lenders sent a total of 2,006 default notices to homeowners in the nine-county region during the three months that ended Sept. 30 -- down 13 percent from the year-ago period and 6 percent from the second quarter, the real estate information firm DataQuick reported Thursday. Brisk price increases across the Bay Area have helped keep foreclosures at rock-bottom levels, analysts said. As prices rise, even financially strapped borrowers can usually sell their homes at a profit. Click here to read more.

Long-term mortgage interest rates were scattered Thursday, and the benchmark 10-year Treasury bond yield dropped to 4.55 percent. The 30-year fixed-rate average rose to 5.73 percent, while the 15-year fixed-rate dipped to 5.28 percent. The 1-year adjustable was unchanged at 4.2 percent. The 30-year Treasury bond yield slippedd to 4.77 percent. Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Thursday, October 27th, 2005

Mortgage rates continued higher this week, marking the seventh consecutive weekly gain since mid-September, according to Freddie Mac's weekly survey released today. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.15 percent, with an average 0.5 point, for the week ended today, up from last week's average of 6.1 percent. The average for the 15-year fixed-rate mortgage is 5.69 percent, with an average 0.5 point, up from last week when it averaged 5.65 percent. Click here to read more.

RealEstateShows.com, a leading provider of internet presentations for REALTORS®, will be demonstrating its new iPod Shows on Apple Computer’s recently released iPod at the National Association of REALTORS® Annual Convention in San Francisco. San Francisco, CA (PRWEB) October 27, 2005 -- RealEstateShows.com, a leading provider of internet presentations for REALTORS®, will be demonstrating its new iPod Shows on Apple Computer’s recently released iPod with video at the National Association of REALTORS® Annual Convention in San Francisco. This new feature will give REALTORS® the ability to carry their presentations with them anywhere and provide for easy in-home presentation on their client’s television screens. Click here to read more.

Real estate investing isn't for everyone. Can you make a living at it? Sure you can. But you can also lose everything. And in your case, that might mean your own home. Click here to read some questions and answers.


~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Wednesday, October 26th, 2005

Home prices will level off but the real estate market will not cool anytime soon, according to the state's Department of Real Estate on Tuesday. Not enough homes were built in California in the last 10 to 12 years to slow demand, said Jeff Davi, commissioner of the Department. Home prices will probably continue to increase even in the first quarter of 2006, he said. Click here to read more.

Median price of a home in California is at $543,980 in September, which is up 17.3 percent from a year ago. Sales increase by 3.9 percent. Click here to see the median prices of your county/city! Closed escrow sales of existing, single-family detached homes in California totaled 650,780 in September at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR(R) associations statewide. Statewide home resale activity increased 3.9 percent from the 626,210 sales pace recorded in September 2004. The statewide sales figure represents what the total number of homes sold during 2005 would be if sales maintained the September pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. The median price of an existing, single-family detached home in California during September 2005 was $543,980, a 17.3 percent increase over the revised $463,630 median for September 2004, C.A.R. reported. The September 2005 median price decreased 4.4 percent compared with August's revised $568,730 median price. Click here for more details.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Homes Currently Available in Sun Lakes Senior Community

Here are 49 Available Homes in Sun Lakes Senior Community, Banning, CA 92220.
I had to post these links the old-fashioned way, so let me know if any of the links are broken. Thanks!
The lowest priced listings are at the top of the list, and the higher priced listings are at the bottom.

- Listing # Q500587
- Listing # Q500666
- Listing # I527179
- Listing # I525759
- Listing # Q500548
- Listing # I531069
- Listing # Q500625
- Listing # Q500522
- Listing # Q500639
- Listing # Q500466
- Listing # Q500484
- Listing # Q500605
- Listing # I521644
- Listing # Q500438
- Listing # I520083
- Listing # Q500444
- Listing # I528933
- Listing # I531047
- Listing # Q500580
- Listing # Q500491
- Listing # Q500622
- Listing # Y501192
- Listing # Q500485
- Listing # Q500513
- Listing # I528923
- Listing # Q400651
- Listing # I521076
- Listing # Q500592
- Listing # Q500637
- Listing # Q500541
- Listing # Q500582
- Listing # Q500634
- Listing # Q500604
- Listing # Q500344
- Listing # Q500576
- Listing # Y501597
- Listing # Q500629
- Listing # Q500575
- Listing # I523022
- Listing # Q500357
- Listing # I525136
- Listing # I521740
- Listing # I528365
- Listing # Q500635
- Listing # Q500550
- Listing # Q500291
- Listing # Q500621
- Listing # I522839
- Listing # I531274

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News For Tuesday, October 25th, 2005

Good morning everyone! Today I'm just going to post some really quick news, I have to do some family business in LA. If you need to get in touch with me, call my cell phone! Okay, down to the news for today.

National real estate foreclosures decreased 9.2 percent in September from the previous month, continuing a two-month decline, according to a report released today by RealtyTrac, an online marketplace for foreclosures. A total of 68,646 properties nationwide entered some stage of foreclosure in September, the report shows. "Foreclosures in September dropped for the second month in a row, at least in part due to issues related to Hurricanes Katrina and Rita," said RealtyTrac CEO James J. Saccacio. "Trends in the real estate market in general – and foreclosure properties in particular – will be interesting to watch over the next few months as new economic forces such as increasing interest rates and the recently-passed bankruptcy laws come into play." Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News For Monday, October 24th, 2005

Time is serious in real estate deals. Buyers and sellers face consequences if they don't perform on time. When you sign a contract to buy or sell a home, you agree on the price, the closing date, and a myriad of other details. The contract may also specify that time is of the essence. If so, this means that you agree to perform on time. For buyers, this means you'll remove contract contingencies on time, and do whatever is necessary to ensure a timely closing. For sellers, it means that you'll promptly provide whatever documents and reports the contract requires, you'll close on time and deliver possession of the property to the buyer on the date agreed to in the contract. For more details, click here.

Some 25,000 Realtors will meet up Oct. 28-31, for the biggest real estate event of the year, the National Association of Realtors' annual convention and tradeshow. Geared primarily towards Realtors, Inman News created a five-part offbeat guide to the not-to-miss real estate event. Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News For Sunday, October 23rd, 2005

For those of you who haven't heard of Robert Bruss, he does a great real estate question and answer section for Inman News. The Sunday edition of the Los Angeles Times usually features a few of his answers. To learn more about him, visit www.bobbruss.com.

Here are a few of Robert Bruss' questions, for the answers, click here!

1.) Question: I want to sell my apartment building, but I don't know how to write an attractive ad or what publications I should use. Any suggestions?

2.) Question: Almost a year ago, I co-invested in a four-unit apartment building with a partner I met through the local real estate investors club. We were both single guys, eager to get started investing in real estate. I found the property, arranged the mortgage and hired the fix-up contractors. My co-owner provided the $26,000 cash down payment. As a busy dentist, he doesn't have time or desire to get involved in the fix-up work. We co-signed a $20,000 home-improvement loan to upgrade the property. It turned out beautifully and is now fully rented at top rents. I want to sell and he wants to keep the property for five years while it appreciates in market value. How can I get my equity of about $60,000 out?

3.) Question: I would like to invest in real estate but don't have much cash to get started. I am a homeowner with about $100,000 in home equity. My wife won't agree to refinance to get a "cash-out" mortgage to begin investing. Any ideas?

4.) Question: We want to refinance our home loan. But the mortgage broker we met at church wants a $500 application fee to start the paperwork. Should we pay such a high fee?

5.) Question: I recently inspected a clear-cut fixer-upper house that will require at least $10,000 for repairs. I am a building materials salesman and know a fixer house when I see it. After the house is fixed up, I estimate it will be worth at least $40,000 more than its market value today. If you were in my situation, with limited financial resources, would you buy it if the seller will carry back the mortgage for just 12 months?

6.) Question: When I moved, I hired a local Realtor to supervise my rental house. She charged me 10% of the gross monthly rent. Several months after my tenant vacated without notice and left the house a mess, she finally phoned to say, "We have a problem." At that point, I reluctantly sent her a $2,000 check to pay for fix-up work. She re-rented the house, but the next tenant was a deadbeat. It turns out my so-called professional property manager never even ran a credit report on the new tenant. When I fired her, she said I breached her property management contract. What should I do?

7.) Question: My husband and I bought our home five years ago. After moving in, we noticed the floors sloped significantly. We discovered the washing machine drain pipe was not connected, and it drained under the house into the crawl space. I feel sure the sellers knew about these problems. Our neighbor just told us our house had been moved onto the foundation. If we had known about these problems, we would not have purchased. Do we have any recourse?

Answers: Click here for Robert Bruss' answers to these intriguing questions.

Leaky ducts have been such a prevalent energy waster that on Oct. 1, a California building standard was imposed requiring most inland homeowners to have systems checked before the installation or replacement of a central air conditioner or heater. Ducts found to leak 15% or more in existing homes or 6% or more in new construction must be sealed. For consumers, it's spend now, save later. The California Energy Commission estimates that testing and sealing should cost about $660, depending on the condition of the ductwork. With the average home duct system leaking about 30%, according to Bill Pennington, manager of the commission's buildings and appliances office, cutting that in half would save about $16 a month on a $200 heating bill and $28 a month on a $200 cooling bill. The rise in heating costs this winter will shorten the time span to recoup the initial expense. Exempt from the new law are homes in specified coastal zones where people use less air conditioning and heating and energy savings would be minimal. To see if your city falls in an exempt zone, visit http://www.energy.ca.gov/maps/climate_zone_map.html . Cities in climate zones 2 and 9-16 are exempt. Also exempt are houses with less than 40 feet of ductwork; ducts constructed, insulated or sealed with asbestos; and a few extremely energy-efficient heating and cooling systems.
To read the entire article, click here.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Open House - Saturday, October 22nd, 2005

Hi everyone! Just wanted to let everyone know that there is an Open House today!

Located at: 1949 Tudor Dr. San Jacinto, CA 92583 from 11:00am to 3:00pm
Price has JUST BEEN REDUCED to only $317,900! This beautiful 3-bed, 2-bath home is clean and gorgeous inside and out!
For additional pictures & information about the home, click here.

Need directions? Click here for a Google map.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Friday, October 21st, 2005

More baby-boomers are putting money into second homes. Despite talk of real estate slowdown, buyers still snap up vacation homes. Others are still seeking a second, third or even a fourth home for investment purposes because they are disenchanted with the stock market. And despite talk of an impending break in the housing market bubble, those who own or want to own a second home are steadfast in their decision. In 2004, nearly 23 percent of all homes purchased were for investment purposes, while 13 percent were purchased for vacation use. And between 2003 and 2004, there was a 16.3 percent increase in second-home purchases. “I don't want to sound materialistic, but it's nice to have something tangible after working so hard for years and years,” said Dorio, a mortgage broker from Orange County. “I also did it for the investment. Meaning, it's something the kids will be able to use in the future.” To read more click here.

With the popularity of exotic mortgages, it's never been easier for homebuyers to afford their dream house even if it's out of their preferred price range. But the increasing use of interest-only and option adjustable rate mortgages has put federal regulators on high alert. This fall, the Office of the Comptroller of the Currency, along with other financial regulators, will issue guidelines for mortgage lenders that could make lenders think twice before readily offering exotic mortgages to potential buyers. According to the National Association of Realtors (NAR), prices for existing homes nationally have climbed 13.6 percent in the second quarter from a year ago. Growth in the West outpaced the rest of the country with prices 19.5 percent higher. Click here to read more.

The rapid rise in house prices — which has made Americans feel wealthy and inclined to spend over the past several years — won’t continue indefinitely, the president’s top economist said Thursday. Still, a mild slowing in the buoyant housing market shouldn’t pose a danger to the country’s overall economic health, Ben Bernanke, chairman of the Council of Economic Advisers, told Congress’ Joint Economic Committee. “House prices are unlikely to continue rising at their current rates,” he said. “However, as reflected in many private-sector forecasts ... a moderate cooling in the housing market, should one occur, would not be inconsistent with the economy continuing to grow at or near its potential next year.” Many private analysts would consider such growth to be around 3.25 percent. Click here to read more.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Thursday, October 20th, 2005

According to the LA Times, Los Angeles County's median price rose to $494,000 in September, a 21.4% gain over the year-ago price, on a 4.6% gain in sales volume. Orange County posted a median price of $610,000, a 14.4% year-over-year gain on a 13.6% gain in sales. The Inland Empire continued to show strong price and sales gains. San Bernardino County's median rose to $352,000 on a 7.4% gain in sales, while Riverside County's median hit $391,000, up 15.7% on a 11.6% jump in sales. San Diego County's median price was $498,000, versus $480,000 a year ago, which is a 4.7% drop in sales volume. For more details, click here.

As mentioned earlier, San Bernardino County's median-home price reached a record of $352,000 last month, the largest annual jump in the still-strong Southern California real estate market. Inland home sales last month also set a record for September, undeterred by rising interest rates. The Southern California housing market remains hot, with the Inland region showing greater-than-average strength because of its affordability, job growth and new-home construction, said Robert Kleinhenz, deputy chief economist with the California Association of Realtors. Home builders and real estate agents say they are surprised by the persistence of strong sales and rising prices. "We have not seen any slowdown (of sales) in any price point, whether it is first-time buyers or move-up buyers," said Scott Laurie, president of the Inland division of KB Home. "Our Riverside projects are even hotter than they were last year." Bob Yoder, president of Shea Homes Inland Empire Division, said his company is closely monitoring the market for any signs of weakness, but hasn't seen any. He said Shea, like other builders, is not raising its prices as aggressively from one phase to the next as it did a year ago. He said the market cools as the holidays approach, "but there are still a lot of shoppers." Click here to read the entire article.

That's it for today, I hope everyone is having a great week!

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Wednesday, October 19th, 2005

A tax reform proposal agreed upon Tuesday by President Bush's advisory panel would eliminate the federal deduction for state and local taxes and sharply limit the tax break for home mortgage interest. That's leading some Democrats in California and New York to assail it as an attack on the blue states -- the ones that voted Democratic in the 2004 presidential election -- which tend to have higher taxes and housing costs. Click here to read more.

Home-building stocks have been less than stellar for months, as soft consumer confidence and rising mortgage rates have made investors wonder if the hot real estate market soon could go bust. The concern: Rising interest rates will finally crimp demand for real estate and put a clamp on interest-only and other so-called voodoo loans that have been fuel for the raging real estate market. Last week, the average rate on a 30-year mortgage rose a fifth-consecutive week, hitting 6% for the first time since March. While it's unclear if or how much that is going to hurt actual home prices, the effect on home builders' stocks is undeniable. The group, which had been one of the best performers on Wall Street earlier this year, is quickly beginning to look like one of the worst. To read more click here.
Here are a few home-building stocks:


~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Tuesday, October 18th, 2005

According to the Marin Independent Journal, the real estate boom is slowing. Since early September, only 32 to 37 percent of Marin home listings have been in escrow each week, according to the Multiple Listing Service, indicating what agents and industry analysts call a neutral market. When more than 40 percent of homes are under contract, it is considered a sellers' market. Below 25 percent is a buyers' market.
"This is the first time in eight years there are fewer than 35 percent in contract. It's a neutral market," says Patti Cohn, a real estate broker with Frank Howard Allen Realtors in Novato. Click here for more details.

Nearby, the Bay Area real estate market seems to have settled into a steady state, with few indicators pointing to any upcoming change. Supply and demand seem stable. Keep an eye on rising mortgage interest rates which could slow things down somewhat before the end of the year. For more details, click here.

According to a short article in the Desert Sun, many new investors got into the market after watching their stock portfolios stall as their home equity soared. These days, they're turning to friends, seminars and investment clubs for advice on buying property for long-term rental income or "flipping" homes for profit through quick sales. For more information on that, click here.

However, according to the San Diego Union-Tribune, industry experts don't expect prices in San Diego county to sag. Not everyone agrees that prices are going to drop steeply, or even that the housing boom is ending. Citing a shortage of dwellings, industry representatives continue to dismiss the notion of a bursting real estate price bubble. Bob Cummings, president of K. Hovnanian Homes San Diego, says the slowdown is seasonal and in keeping with historical trends before the recent spike in prices. "I fully expect things to pick up the first part of the year," he said. "People are reading too much into the San Diego slowdown." Although the pace of sales has slowed, there are no clear indications that overall prices are going to decline, real estate analysts say.

Newly released data by locally-based DataQuick supports that view. Click here to read the entire article.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate News for Monday

Just wanted to send a shout-out to the bloggers Fran Vernon and Rowena Emmett for being featured in the CAR Real Estate Magazine. Their real estate blog was mentioned in an article about real estate agents who have embraced the web. I've taken a look at their blog as well, it has daily updated informative stuff, but the webdesign is not so hot. Either way, I'm proud of the other real estate bloggers out there! Big pat on the back!

Let's get down to today's real estate information.


Here is NAR's Pending Home Sales Index, which John Burns, founder of Real Estate Consulting in Irvine, California refers to in the following article. He grades October's real estate market, which I will summarize quickly for you.
Economic growth, leading indicators, and consumer behavior get an average grade of C. Housing supply receives a B-, new home market receives a B, and mortgage rates gets a B+. The existing-home market get a stellar grade of A. Click here to get all the details.

According to Inman News, Southern California real estate sale prices have gone up since last year. SoCal home sales were up 6 percent from September 2004 to September 2005 and median sales prices were up 16.1 percent during that time period. 31,740 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 7.4 percent from 34,292 in August, and up 6 percent from 29,942 for September last year. A decline from August to September is normal for the season. Click here to read more.

Dian Hymer offers strong advice for pricing houses during a changing market. "Don't waste your time testing the market at an unrealistic price. This market is for serious sellers. There are plenty of serious buyers for listings that are priced for sale at current market value." For more details click here.

And that's all for now. Feel free to send me any comments or questions!

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Managing Multiple Credit Cards

I've found so many interesting articles today, that I just had to keep on sharing.

Here's one from Jack Guttentag of Inman News titled "Golden Rules for Managing Multiple Credit Cards."

I'm just going to mention some of the main ideas of the article. That way you don't have to read the whole thing if you're feeling a bit rushed.
1. deliquencies in payments stay on your credit report of seven years
2. keep the ratio of card balance to maximum balance low
3. keep older cards rather than newer ones
4. try to have no more than 4-5 active cards

Keep on reading below if you want to know more!

Question: Two years ago I had terrible credit, and you steered me to a credit card company that would give me a card. Now I have three cards, and my credit has improved, but not enough. How do I manage my cards to earn the best possible credit score?

Answer: Managing credit cards is more complicated than managing a mortgage or auto loan because you have multiple debts rather than just one. The number of cards can vary, balances can be increased or paid down, balances can be shifted between cards, new cards can be opened, and existing cards can be closed.

Any such change may affect your credit score. Some guidelines to follow, in order of importance:

Payment history: Payments made on time raise the credit score, while delinquent payments reduce it. Most cardholders understand this, but many also believe that the reduction in credit score caused by a delinquency is reversed when the card becomes current. This is not the case. Eliminating the delinquency merely prevents a further hit to the score. Delinquencies stay on your record for seven years, although their force will weaken over time.

Ratio of card balance to maximum balance: This is the second most important component of your credit score, and if your credit history is short, it can be the most important. The outstanding debt on each of your cards is compared with the maximum debt that can be charged on that card. For example, if the balance on a card is $2,000 and the maximum balance is $5,000, the utilization rate is 40%. The lower the utilization rate, the higher your credit score. High ratios are taken to mean that the borrower is living closer to the edge.

Some experts advise that it is better to have about the same utilization ratio across all your cards, rather than have some high and some low.

I see no reason why the distribution of balances across different cards should matter. A cardholder can reduce the utilization ratio by reducing the balance, and also by increasing the maximum balance. If a borrower has had a good payment record, the maximum can often be increased simply by asking.

Age of cards: Think old over new. The card in use for 15 years is evidence of financial stability, whereas the card taken out last week could mean the borrower is in trouble.

Number of cards: It is better to have no more than four or five active cards, but if you have 12, don't worry about it. If you reduce the number of cards, retain the older cards and cancel the newer ones.

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Questions or comments for Jack Guttentag can be left at http://www.mtgprofessor.com

And if you have any questions for me, I'm always around, so drop me a line!
~Tina.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Real Estate Events

According to the Los Angeles Times Real Estate section, here are some upcoming events that might interest you!

Tuesday, October 18th, 2005
First-Time Buyers: A free educational workshop for wannabe buyers will be sponsored by IndyMac Bank, 17050 Ventura Blvd., Encino at 6:00pm. For more information, call (818)817-5320.

Wednesday, October 19th, 2005
Insurance, Credit and Cash: Learn about these essentials for investment buying at a 6:30pm dinner meeting sponsored by Investing-in-Real Estate Clubs at the Acapulco Restaurant, 722 N. Pacific Ave., Glendale. Cost, including dinner, is $25. (323)420-4207.

Equity Products: A free educational workshop for consumers will be sponsored by IndyMac Bank at 5:00pm, 2111 Bonita Ave., LaVerne. (909)593-4944.

Reverse Mortgages: Learn how to use the equity in your home during a free workshop sponsored by IndyMac Bank at 10:00am, 144 N. 2nd Ave., Covina. (626)331-0651.

Home Buying: Agonizing over purchasing that first house? Attend a free IndyMac Bank workshop at 4:30pm, 1111 N. Brand Blvd., Glendale. (818)502-8400.

Thursday, October 20th, 2005
Reverse Loans: Desperate for cash? Investigate your home equity. Learn how at a free workshop sponsored by IndyMac Bank at 10:30am, Pasadena Seniors' Center, 85 E. Holly St., Pasadena (626)535-4870.

Seems like alot of the events are offered by IndyMac Bank. The entire list of events can be found on page K14 of the Sunday, October 16th, 2005 Los Angeles Times. Or write to Events Calendar, Real Estate Section, Los Angeles Times, 202 W. 1st St., Los Angeles, CA 90012.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com

Tech Gadgets

According to the October 2005 "Real Estate Technology Magazine," a supplement to the "California Real Estate Magazine - Official Magazine of the California Association of Realtors," there are several fun tech gadgets that will be useful for real estate agents and tech-savvy buyers and sellers. Among those mentioned were the:
Blackberry 7520
Treo 650
Motorola RAZR V3
PalmOne LifeDrive Mobile Manager
Dell Latitude X1
HP d4100y series
Xerox Phaser 8500 Color Laser Printer
Canon EOS 20D Digitial
Click here for all the details.

~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com