Escondido code sweep nets pile of real estate signs; agents irked. Local real estate agents are incensed after code-enforcement officers collected more than 100 open-house signs and threw them in the trash behind City Hall. Real estate agents say that without the ability to post clear signs directing potential buyers to open houses, properties will languish unsold in an already tough real estate market. Escondido real estate agents and sellers say they saw proof Sunday of how important their signs were, reporting that attendance at open houses was much lighter than usual. Source.
Realtors react to summer slowdown. A slowing job market (statewide, California added just 900 jobs last month; its recent average has been 17,400 per month over the previous year according to the state Employment Development Department), combined with recent hikes in interest (though the Fed did not raise interest rates for the first time last month since May, 2004), have led to a basin-wide real estate slowdown. But some say there are signs of hope. The Bay Area, while experiencing a similar glut of housing and slow market to follow, is also currently in the midst of Internet 2.0 - a resurgence of web business models largely modeled after "share" sites like YouTube, MySpace, Twitter and Facebook; the ubiquitous access to broadband and Wi-Fi has also brought to fruition the heady dot.com expectations of five years ago. As the tech sector continues to grow, some predict a future splash for the second-home or "instant millionaire" buyer market which could mirror the heyday of 2002-'03. Three things seem certain however: 1) It's not 2003 anymore. 2) The "condo boom" is over, for now; and 3) While there are more than 400 homes, condos and PUD (free-standing homes with lots collectively owned) properties on the market, the most in the past half-decade, according to at least one long-time local Realtor, "the competitively priced, high-end home in a desirable location is still a solid seller." Source.
'Last hoorah' for real estate print ads. Survey: Realtors spend money on print ads because clients expect them to. Real estate companies spent more on newspaper advertising in the early part of 2006 than they did last year, but did so grudgingly, according to a survey that predicts the demise of print real estate ads. The Newspaper Association of America reports that first-quarter revenue for print classified real estate advertising was up 26.3 percent compared to last year. But Realtors say they buy print ads because their customers expect them to, not because they produce results, according to a survey by Florida-based Classified Intelligence LLC and Realty Times. The survey also includes insight from a panel of nine experts -- many who work for online companies -- who say the Internet is poised to take a bigger share of real estate marketing budgets. Of 101 Realtors nationwide, 58 percent said they are spending more on marketing this year than last, but 36 percent said they spent 10 percent or less of their total ad budgets on print ads. Nearly one in five didn't advertise in newspapers at all. But the Internet isn't yet siphoning off all of the newspapers' real estate ad revenue. National Web sites, such as Realtor.com and Move.com, actually received less business from Realtors surveyed than newspapers. Of those surveyed, 69 percent said they didn't advertise at all on real estate Web sites aimed at a national audience. Most respondents -- 51 percent -- are taking advantage of free classified Web sites, with two-thirds of that group using Craigslist and nearly half listing on Google Base. Only a few Realtors -- 33 percent -- spend more than $10,000 on advertising, and it's not print or online that gets most of their dollars. Flyers, yard signs and billboards that get the word out "on the street" remains the leading category for Realtors' ad dollars. When Realtors do shell out for online advertising, the biggest chunk goes for their own Web sites, the survey found. Source.
KB Home Cuts Holdings as Market Cools. Majority owner Empire Cos. acquires the builder's 49% stake in the master-planned Anaverde project in the Antelope Valley. KB Home has started pruning its land portfolio in Southern California, a byproduct of a slumping housing market that is forcing big builders to reevaluate their property holdings. The Westwood-based builder said Tuesday that it had sold its 49% stake in the massive Anaverde master-planned community in the Antelope Valley to the majority owner, Empire Cos. of Ontario. The deal gives privately held Empire 100% ownership of the nearly 2,000-acre housing development in West Palmdale where the first 1,400 homes of a planned 5,200 are under construction by KB and other building companies. Terms of the transaction weren't disclosed. KB, the nation's fifth-largest home builder, in recent years has beefed up its land-development business to capitalize on rising property values amid a six-year housing boom. Land developers typically profit by acquiring property and increasing its value by upgrading it into lots ready for construction. But now with demand for new homes declining, major builders are under pressure from Wall Street to justify their ownership of land that isn't already primed for building and that doesn't have a prospective buyer lined up. Source.
Incomes fail to keep pace with inflation, but new census survey suggests poverty rate declining. Incomes have been creeping up in northern San Diego and southern Riverside counties in recent years, and proportionately fewer area residents are living in poverty than they did in 1999, according to results of a U.S. Census Bureau survey released Tuesday. However, population and economic experts say the modest six-year improvement was largely eclipsed by a soaring regional inflation rate fueled by nationwide increases in gasoline prices and Southern California's real estate market that once had been red hot. They suggest that in reality, the buying power of many residents has declined and that federal poverty statistics fail to paint an accurate picture of the financial pain that the area's low-income families are experiencing. Source.
~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
Wednesday, August 30, 2006
Tuesday, August 29, 2006
Apple Annie's Restaurant & Bakery
In the September/October 2006 issue of "Westways - Southern California's Lifestyle Magazine," there is a great article about Apple Annie's Restaurant & Bakery in Oak Glen.Apple Annie's Restaurant & Bakery
38480 Oak Glen Road, Oak Glen; (909)797-7371
The five-pound "mile-high apple," made with 15 apples, is their signature pie. They also offer French and lattice-crust pies, as well as apple turnovers, fritters, dumplings, crisps, cookies, muffins, pancakes, and bread. 36,000 pies are sold between September through November. 100,000 pies are sold each year. Source.
~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, August 29th, 2006
Glitzy high-end homes are the real stars of 'Listing'. If real estate listings are the new pornography, then ``Million Dollar Listing" should be rated triple-X. Mind you, this new Bravo reality series does stuff a bit of a plot in between its explicit homes-with-views action, just to warm things up. It's cast with a crew of Malibu and Hollywood realtors who sweet-talk one another and kiss-kiss their wealthy clients. But we know that all along they're just dying to show their goods, finalize their sales, make their commissions. Source.
House Real Estate Hearings - Prosecution Rests And Defense Steps Up. It is often overlooked by critics that real estate is a success based business. If a seller does not sell his house or a buyer does not purchase one, their agents receive 0% commission regardless of the time and money invested. Even when a commission is received, it often comes some months after the time or money is expended. Both Lewis and Ms. Vredeycogd-Combs cited recent studies that indicate commissions have been trending down - going from 6.1 percent in 1991 to the current average of 5.1 percent. The median gross income for real estate professionals has decreased 6 percent notwithstanding that agents receive no healthcare or retirement benefits. On a net basis, the average agent salary is lower than that of school teachers who receive benefits and work only nine months a year. This is because of the large increase in the number of agents entering the industry. NAR, he said, reported a 26 percent increase in membership over the past two years and a 40 percent increase over the past five years. There are now 2.6 million licensed agents in the U.S., one for every 115 people. Mr. Lewis probably made the most cogent arguments of any of those testifying at the hearings. If you can, take the time to read his entire prepared statement HERE. Source.
Real estate flipping declines in California. Report cites fewer opportunities for fast money. The "flipping" of homes in California declined to its lowest level in more than three years, according to HomeSmartReports.com, a company that offers information on real estate sales trends and property values. Investors are apparently pulling back, and "chances for a quick turnaround and profit are diminishing," according to a company statement. Source.
Housing Truth from Main Street. An interesting blog by Sheldon Liber who insists that there is no housing bubble and that there is always a need for real estate. It's always nice to have a variety of opinions out there. That is the greatest thing about the internet. Source.
Mexican resort areas boom in soft real estate market. Cooling U.S. market hasn't stopped wealthy investors from setting up shop in Mexico. n the past, foreigners have been wary of investing in Mexico because of legal problems, corruption and red tape. But changes in Mexican laws have made it easier for foreigners to own property through bank trusts. Major U.S. companies have begun offering mortgages and title insurance. Mexico also is drawing more attention from Europe. Last year, Spanish companies were the top investors in the tourist industry, pumping $416 million into resort properties. U.S. investors followed with $321 million, according to the tourism agency. Source.
Yahoo rolls out a more comprehensive property site. Yahoo Inc. is upgrading its real estate site with a range of new features including current U.S. home valuations and aerial neighborhood views, the Internet media leader said on Tuesday. The refreshed Yahoo Real Estate site (http://realestate.yahoo.com) gives users access to data on 3 million real estate listings, mainly from Prudential Real Estate, and comparative data on up to nearly 50 million homes from online property research start-up Zillow.com of Seattle. Source.
Big inventory of unsold homes. Experts say it's return to normal after boom. The inventory of unsold new homes in Southern California soared to its highest level since 1990 by the end of the second quarter, according to a report that will be released Wednesday, and construction activity has dropped dramatically as builders adjust to the slowing market. At the end of June, there were 16,595 new houses and condominiums for sale from Santa Barbara County to San Diego County (excluding Imperial County), up 171 percent from the end of July 2005, according to a report that will be released by the Real Estate Research Council at California State Polytechnic University, Pomona. That's the biggest supply overhang since 20,942 new homes languished on the market at the end of 1990, said Michael Carney, the council's executive director. The record inventory is 32,191 new properties in the middle of 1982. In Los Angeles County, the unsold new home inventory rocketed an annual 375 percent, to 1,975 properties at the end of June. That's the most since 2,054 new homes were on the market at the end of 1995. The most distress, however, is in San Diego County, where a record 6,927 properties were on the market at the end of June. Eighty-four percent are attached units, probably most of them condominiums, Carney said. Southern California now accounts for 3 percent of the unsold new home inventory in the U.S. and 14 percent in the West. Source.
~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
House Real Estate Hearings - Prosecution Rests And Defense Steps Up. It is often overlooked by critics that real estate is a success based business. If a seller does not sell his house or a buyer does not purchase one, their agents receive 0% commission regardless of the time and money invested. Even when a commission is received, it often comes some months after the time or money is expended. Both Lewis and Ms. Vredeycogd-Combs cited recent studies that indicate commissions have been trending down - going from 6.1 percent in 1991 to the current average of 5.1 percent. The median gross income for real estate professionals has decreased 6 percent notwithstanding that agents receive no healthcare or retirement benefits. On a net basis, the average agent salary is lower than that of school teachers who receive benefits and work only nine months a year. This is because of the large increase in the number of agents entering the industry. NAR, he said, reported a 26 percent increase in membership over the past two years and a 40 percent increase over the past five years. There are now 2.6 million licensed agents in the U.S., one for every 115 people. Mr. Lewis probably made the most cogent arguments of any of those testifying at the hearings. If you can, take the time to read his entire prepared statement HERE. Source.
Real estate flipping declines in California. Report cites fewer opportunities for fast money. The "flipping" of homes in California declined to its lowest level in more than three years, according to HomeSmartReports.com, a company that offers information on real estate sales trends and property values. Investors are apparently pulling back, and "chances for a quick turnaround and profit are diminishing," according to a company statement. Source.
Housing Truth from Main Street. An interesting blog by Sheldon Liber who insists that there is no housing bubble and that there is always a need for real estate. It's always nice to have a variety of opinions out there. That is the greatest thing about the internet. Source.
Mexican resort areas boom in soft real estate market. Cooling U.S. market hasn't stopped wealthy investors from setting up shop in Mexico. n the past, foreigners have been wary of investing in Mexico because of legal problems, corruption and red tape. But changes in Mexican laws have made it easier for foreigners to own property through bank trusts. Major U.S. companies have begun offering mortgages and title insurance. Mexico also is drawing more attention from Europe. Last year, Spanish companies were the top investors in the tourist industry, pumping $416 million into resort properties. U.S. investors followed with $321 million, according to the tourism agency. Source.
Yahoo rolls out a more comprehensive property site. Yahoo Inc.
Big inventory of unsold homes. Experts say it's return to normal after boom. The inventory of unsold new homes in Southern California soared to its highest level since 1990 by the end of the second quarter, according to a report that will be released Wednesday, and construction activity has dropped dramatically as builders adjust to the slowing market. At the end of June, there were 16,595 new houses and condominiums for sale from Santa Barbara County to San Diego County (excluding Imperial County), up 171 percent from the end of July 2005, according to a report that will be released by the Real Estate Research Council at California State Polytechnic University, Pomona. That's the biggest supply overhang since 20,942 new homes languished on the market at the end of 1990, said Michael Carney, the council's executive director. The record inventory is 32,191 new properties in the middle of 1982. In Los Angeles County, the unsold new home inventory rocketed an annual 375 percent, to 1,975 properties at the end of June. That's the most since 2,054 new homes were on the market at the end of 1995. The most distress, however, is in San Diego County, where a record 6,927 properties were on the market at the end of June. Eighty-four percent are attached units, probably most of them condominiums, Carney said. Southern California now accounts for 3 percent of the unsold new home inventory in the U.S. and 14 percent in the West. Source.
~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
Tuesday, August 15, 2006
Real Estate News for Tuesday, August 15th, 2006
Own a home, grab the tax breaks. The housing market may swell and ebb. But Uncle Sam keeps giving. The tax code backs up reverence for owning your abode with tax deductions for mortgage interest and property tax that in effect reduce your monthly bill. And some or all of your profit when you sell may face no tax at all. An analysis released in late June by economist Robert Dietz of the National Association of Home Builders calculated that about 35 million households claimed $338 billion in mortgage deductions on 2003 returns, an average of $9,650. About 39 million deducted $119 billion in real-estate tax, an average of $3,000. California led the nation in mortgage deductions with a statewide average of about $14,000 and a whopping $35,000 in the San Jose area. Source.
A cooling market is taking Toll. Developer says new home orders being canceled; Sotheby's closing local offices. Coachella Valley's once hot luxury-home market appears to be losing steam in line with the rest of the cooling local and national housing market, and some big-name companies have taken notice. After less than two years in the valley, Sotheby's International Realty plans to pull up stakes by the end of August and shut down its only two company-owned Coachella Valley offices. National luxury-home builder Toll Brothers Inc. - with its Mountain View Country Club and Muirfield at PGA West communities - is reporting a surge in local buyers having to cancel new-home orders. Local real estate agents said there's a definite slowdown in the high-end market, but they detect some good indicators as well. The downturn in what is typically seen as an almost bullet-proof segment of the real estate market is due to waning home-buyer confidence, an inventory glut of more than 7,000 resale homes in the valley, a normal winding down of the real estate cycle and other factors, area real estate agents and industry officials said. Source.
Most Expensive Rental Markets In America 2006. "With mortgages rising and home prices at such a high level, people who might have considered purchasing a home a few years ago may now be turning to the rental market, particularly in big cities like New York," says Richard Levy, a senior research analyst at the National Multi Housing Council, an industry association based in Washington, D.C. But much to renters' chagrin--and landlords' delight--greater demand has led to higher rents. In fact, NAR expects rents will rise an average of 4.1% this year, compared to a 2.9% increase last year. Source.
Southland Home Sales at 9-Year Low. In July, 22,712 homes closed escrow in the six-county region, according to La Jolla-based research firm DataQuick Information Systems. That was a 27% drop from the year before and was the fewest number of homes to close escrow in a July since 1997. Waning sales coupled with a rising supply of unsold homes is weighing on price appreciation. In July, the median price of a Southern California home rose 4.9% to $492,000 — the slowest rate of growth in more than six years. The price also edged down 0.2% from the record median of $493,000 set in June. Altogether, Southland home prices have risen just 5% since January, according to DataQuick, which assesses all closed residential transactions in the given period. A year ago, home prices had gained 13% during the same timeframe. Nationally, the slowdown is growing as well. The National Assn. of Realtors said today that in addition to California, 27 other states and the District of Columbia reported spring sales declines of existing homes. Sales nationwide were down 7% to a seasonally adjusted rate of 6.69 million in the April-June quarter this year compared to a year ago, the NAR said. Source.
~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
A cooling market is taking Toll. Developer says new home orders being canceled; Sotheby's closing local offices. Coachella Valley's once hot luxury-home market appears to be losing steam in line with the rest of the cooling local and national housing market, and some big-name companies have taken notice. After less than two years in the valley, Sotheby's International Realty plans to pull up stakes by the end of August and shut down its only two company-owned Coachella Valley offices. National luxury-home builder Toll Brothers Inc. - with its Mountain View Country Club and Muirfield at PGA West communities - is reporting a surge in local buyers having to cancel new-home orders. Local real estate agents said there's a definite slowdown in the high-end market, but they detect some good indicators as well. The downturn in what is typically seen as an almost bullet-proof segment of the real estate market is due to waning home-buyer confidence, an inventory glut of more than 7,000 resale homes in the valley, a normal winding down of the real estate cycle and other factors, area real estate agents and industry officials said. Source.
Most Expensive Rental Markets In America 2006. "With mortgages rising and home prices at such a high level, people who might have considered purchasing a home a few years ago may now be turning to the rental market, particularly in big cities like New York," says Richard Levy, a senior research analyst at the National Multi Housing Council, an industry association based in Washington, D.C. But much to renters' chagrin--and landlords' delight--greater demand has led to higher rents. In fact, NAR expects rents will rise an average of 4.1% this year, compared to a 2.9% increase last year. Source.
Southland Home Sales at 9-Year Low. In July, 22,712 homes closed escrow in the six-county region, according to La Jolla-based research firm DataQuick Information Systems. That was a 27% drop from the year before and was the fewest number of homes to close escrow in a July since 1997. Waning sales coupled with a rising supply of unsold homes is weighing on price appreciation. In July, the median price of a Southern California home rose 4.9% to $492,000 — the slowest rate of growth in more than six years. The price also edged down 0.2% from the record median of $493,000 set in June. Altogether, Southland home prices have risen just 5% since January, according to DataQuick, which assesses all closed residential transactions in the given period. A year ago, home prices had gained 13% during the same timeframe. Nationally, the slowdown is growing as well. The National Assn. of Realtors said today that in addition to California, 27 other states and the District of Columbia reported spring sales declines of existing homes. Sales nationwide were down 7% to a seasonally adjusted rate of 6.69 million in the April-June quarter this year compared to a year ago, the NAR said. Source.
~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
Tuesday, August 08, 2006
Real Estate Advice for Tuesday, August 8th, 2006
Help Your Loan Approval - Loan Application Checklist:
□ Executed sales contract on property being purchased.
□ Plot survey.
□ W-2 forms for the previous two years.
□ If you have been a full-time student for the past two years, provide a copy of your school transcripts or diploma.
□ If you are self employed, commissioned or using rental income to qualify, provide complete and signed personal and business tax returns for the past two years.
□ Year-to-date signed profit and loss, if self employed.
□ Copy of rental or lease agreements on all rental properties owned.
□ Three most recent pay stubs from employer with year-to-date for each borrower.
□ Copy of the last three statements on all asset accounts: banks, stocks, etc.
□ Copy of loan payment coupons.
□ Copy of last charge account statements with balances, names, addresses, and account numbers.
□ Copy of divorce or separation agreement in full when declaring income or debt from such agreement.
□ Names, addresses, and account numbers for any mortgage company or landlord for previous two years.
□ Names and phone numbers of both listing and selling agents.
□ Copy of listing and/or contract on any properties currently for sale.
Purchasers applying for a VA loan also should provide the following information:
a. Original certificate of eligibility - from VA.
b. Copy of separation papers - VA form DD214.
c. Statement of service - from commanding officer.
d. Copy of transfer of orders, if applicable.
Finally, bring a checkbook to pay for your credit report and appraisal fees, which are usually collected at application.
~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
□ Executed sales contract on property being purchased.
□ Plot survey.
□ W-2 forms for the previous two years.
□ If you have been a full-time student for the past two years, provide a copy of your school transcripts or diploma.
□ If you are self employed, commissioned or using rental income to qualify, provide complete and signed personal and business tax returns for the past two years.
□ Year-to-date signed profit and loss, if self employed.
□ Copy of rental or lease agreements on all rental properties owned.
□ Three most recent pay stubs from employer with year-to-date for each borrower.
□ Copy of the last three statements on all asset accounts: banks, stocks, etc.
□ Copy of loan payment coupons.
□ Copy of last charge account statements with balances, names, addresses, and account numbers.
□ Copy of divorce or separation agreement in full when declaring income or debt from such agreement.
□ Names, addresses, and account numbers for any mortgage company or landlord for previous two years.
□ Names and phone numbers of both listing and selling agents.
□ Copy of listing and/or contract on any properties currently for sale.
Purchasers applying for a VA loan also should provide the following information:
a. Original certificate of eligibility - from VA.
b. Copy of separation papers - VA form DD214.
c. Statement of service - from commanding officer.
d. Copy of transfer of orders, if applicable.
Finally, bring a checkbook to pay for your credit report and appraisal fees, which are usually collected at application.
~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 Advice for Tuesday, August 8th, 2006
Friendly Advice - Tips for Getting Your Mortgage!
1. Review your credit report. In many states, reports can be requested for little or no cost. Request changes to any report that is in error.
2. If a creditor does not respond to the dredit reporting agency within 30 days, the report must be taken off your credit report.
a. Equifax: 800-685-1111, www.equifax.com
b. Experian: 800-682-7654, www.experian.com
c. Trans Union Corp: 800-916-8800, www.tuc.com
3. If you have been turned down for credit, you may get your report for no charge.
4. Credit scoring - Credit scoring is assigning numerical ratings to consumers on the basis of their credit history.
5. How to increase your credit score - To help you attain the best possible credit score, avoid any behavior that will negatively impact your credit scores before your loan closing.
Here are some expert tips:
a. Say "no" to new credit.
b. Don't order any furniture or appliances for a new home, even if no payment is immediately due, as with the no-payment-until-spring deals.
c. Don't let any stores run a credit check for a new credit card when you are shopping or looking for new furniture or appliances.
d. Don't get new credit cards, even when stores offer a discount in return for applying for a card.
e. Pay all credit card bills on time, even if it means paying utility bills late.
f. Refuse increases in your credit limit if the increase is more than you need or is high in relation to your income.
g. Pay off and close any existing accounts with finance companies since they're viewed negatively in the scoring.
h. Close out unused credit card accounts.
i. Maintain at least one of your oldest cards to show a lengthy credit history.
~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
1. Review your credit report. In many states, reports can be requested for little or no cost. Request changes to any report that is in error.
2. If a creditor does not respond to the dredit reporting agency within 30 days, the report must be taken off your credit report.
a. Equifax: 800-685-1111, www.equifax.com
b. Experian: 800-682-7654, www.experian.com
c. Trans Union Corp: 800-916-8800, www.tuc.com
3. If you have been turned down for credit, you may get your report for no charge.
4. Credit scoring - Credit scoring is assigning numerical ratings to consumers on the basis of their credit history.
5. How to increase your credit score - To help you attain the best possible credit score, avoid any behavior that will negatively impact your credit scores before your loan closing.
Here are some expert tips:
a. Say "no" to new credit.
b. Don't order any furniture or appliances for a new home, even if no payment is immediately due, as with the no-payment-until-spring deals.
c. Don't let any stores run a credit check for a new credit card when you are shopping or looking for new furniture or appliances.
d. Don't get new credit cards, even when stores offer a discount in return for applying for a card.
e. Pay all credit card bills on time, even if it means paying utility bills late.
f. Refuse increases in your credit limit if the increase is more than you need or is high in relation to your income.
g. Pay off and close any existing accounts with finance companies since they're viewed negatively in the scoring.
h. Close out unused credit card accounts.
i. Maintain at least one of your oldest cards to show a lengthy credit history.
~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
Helpful Real Estate Advice for Tuesday, August 8th, 2006
Helful Assistance - Using a REALTOR.
A REALTOR Can Save You Time.
When you begin your search, it's always good to know the amount of your borrowing power. By doing so, you won't waste precious time looking at homes that are over or below your price range. A REALTOR can get you started in the buying process by helping you determine your buying power: your financial reserves and your borrowing capacity. A REALTOR can refer you to lenders that are best qualified to meet your financial needs.
A REALTOR Knows The Area.
Once you know how much you can and want to invest in a new home, the next step is to determine where you want to live. If you're unfamiliar with the geographic areas, the schools and other pertinent information, a REALTOR can help you narrow and focus your search. A REALTOR has access to information about schools, recreation, taxes, utilities, zoning and other specific details that are important in your home buying decisions.
A REALTOR Has Access To The Largest Number of Available Properties.
A REALTOR has the ability to identify and show you the largest number of homes that most closely match your price, size and location criteria.
A REALTOR Has The Experience To Ease You Through The Buying Process.
There are still a lot of details to care of once you find your perfect home. A REALTOR can help you write the Purchase Agreement, arrange for approppriate inspections (if necessary), assist you with any contingencies and help with finance arrangements. When it's time to close, the REALTOR will let you know what to expect.
A REALTOR Knows Local Closing or Settlement Processes.
Closings - or settlements, as it is known in some parts of the country - vary from state to state. Every area has its own unique customs. In same areas, the title or escrow company handles the whole process. In other parts of the country, an attorney does everything. Your REALTOR knows how it is handled in your area and will guide you smoothly through the process.
Buyer's Agents.
One practice that is becoming more common is using a Buyer's Agent. A Buyer's Agent works exclusively for the buyer-not the seller-ensuring that they willl negotiate on your behalf to get you the lowest price on the best home. Since these professionals work exclusively for the buyer, they are compensated regardless of how the buyer finds the home. Homebuyers who use Buyer's Agents believe that compensation is a small price to pay for the value of having a professional dedicated exclusively to looking out for their best interests.
Welcome to your new home!
~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
A REALTOR Can Save You Time.
When you begin your search, it's always good to know the amount of your borrowing power. By doing so, you won't waste precious time looking at homes that are over or below your price range. A REALTOR can get you started in the buying process by helping you determine your buying power: your financial reserves and your borrowing capacity. A REALTOR can refer you to lenders that are best qualified to meet your financial needs.
A REALTOR Knows The Area.
Once you know how much you can and want to invest in a new home, the next step is to determine where you want to live. If you're unfamiliar with the geographic areas, the schools and other pertinent information, a REALTOR can help you narrow and focus your search. A REALTOR has access to information about schools, recreation, taxes, utilities, zoning and other specific details that are important in your home buying decisions.
A REALTOR Has Access To The Largest Number of Available Properties.
A REALTOR has the ability to identify and show you the largest number of homes that most closely match your price, size and location criteria.
A REALTOR Has The Experience To Ease You Through The Buying Process.
There are still a lot of details to care of once you find your perfect home. A REALTOR can help you write the Purchase Agreement, arrange for approppriate inspections (if necessary), assist you with any contingencies and help with finance arrangements. When it's time to close, the REALTOR will let you know what to expect.
A REALTOR Knows Local Closing or Settlement Processes.
Closings - or settlements, as it is known in some parts of the country - vary from state to state. Every area has its own unique customs. In same areas, the title or escrow company handles the whole process. In other parts of the country, an attorney does everything. Your REALTOR knows how it is handled in your area and will guide you smoothly through the process.
Buyer's Agents.
One practice that is becoming more common is using a Buyer's Agent. A Buyer's Agent works exclusively for the buyer-not the seller-ensuring that they willl negotiate on your behalf to get you the lowest price on the best home. Since these professionals work exclusively for the buyer, they are compensated regardless of how the buyer finds the home. Homebuyers who use Buyer's Agents believe that compensation is a small price to pay for the value of having a professional dedicated exclusively to looking out for their best interests.
Welcome to your new home!
~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
Subscribe to:
Posts (Atom)