Real Estate News for Tuesday, May 29th, 2007

Real Estate Power Couple Ellen Degeneres and Portia Di Rossi Have Listed Another Beautiful Home. They are at it again, our favorite real estate power couple Ellen Degeneres and Portia Di Rossi have listed another beautiful home. This home on Zorada Drive is a bit more modest than their Montecito mansion, it's just 2,755 square feet with three bedrooms, built in 1956. The home is constructed in a U-shape around the pool. For an older home it has a very modern look with concrete floors and large glass walls. It is listed at $2.3 million. Click here to read more.


State targets Murrieta real estate broker. A complaint was filed Wednesday against Stonewood Consulting Inc., a real estate sales and property-management firm in Murrieta, and its licensed broker, Hendrix Moreno Montecastro. Montecastro and Stonewood Consulting are accused of engaging in a scheme by which they used inflated appraisals to obtain mortgages larger than the selling prices of the properties their clients purchased. Stonewood took the difference between the actual sale price and the mortgage amount as compensation in addition to regular sales commissions, the complaint said. The department said an audit of 10 properties conducted as part of its investigation showed the accused collected $969,158 in extra compensation as a result of inflated appraisals. 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

Beaumont, California Fact Sheet for January 2007

City of Beaumont, California
Fact Sheet for January 2007

Population on January 1, 2007 = 28,250

21.2% growth rate in 2006, #1 growth rate in Riverside County, #1 growth rate in California.

City Population projection for 2015 (WRCOG numbers) = 45,029

Population of Riverside County 2000 = 1,545,387

Single Family Residential Permits Issued in 2006 = 3704

Residential Projects under construction = 12

New Commercial Permits Issued in 2006 = 109

Commercial Valuation 2006 = $16,697,304.00

Two proposed new annexations in process for mixed-use projects.

2000 Census Data:
Median age = 30 years
Average Family Size = 2.89
Average Household Size = 3.39
Median Family Income = $37,403
Median Household Income = $29,721

New Park design standards in process.

Community Facilities Districts (CFD) to develop new infrastructure.

Water and Wastewater infrastructure under construction will upgrade the existing wastewater treatment plant and recharge basins to 17M gallon capacity. Due for completion in 2009.

K-12 education provided by the Beaumont Unified School District.

Contains two SCPGA Championship Golf Courses.

Home to the Beaumont Cherry Festival.

Regional Commercial Shopping Center in Planning Stages.

Beaumont's current Multi-purpose Trails: 10.5 Miles Constructed, 50 Proposed Miles in the Future.



~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, May 9th, 2007

What is a FICO Score? Very simply put, a FICO score is a credit score that lenders use to determine whether or not you will pay your debts. The FICO score method was developed during the late 1950s by Fair Isaac Corporation, and it attempts to condense your credit history into a single number. Each of the three major credit bureaus will assign you a FICO score number based on your credit history, such as:
~Late payments
~The amount of time credit has been established
~The amount of credit used versus the amount of credit available
~The length of time at your present residence
~Employment history
~Negative credit information such as bankruptcies, charge-offs, collections, etc.

Your lender will use your FICO score to determine how much money you can borrow and what interest rate you will pay.

Although it is difficult to increase your credit score in the short run, over a period of time you can get a higher FICO score if you:
~Pay your bills on time. Late payments and collections have a big impact on your score.
~Do not apply for credit frequently. Having a large number of inquiries on your credit report can worsen your score.
~Reduce your credit card balances.

Many lenders will review your credit history with you and assist you in correcting errors and planning "repairs." To view your information, contact the three major credit bureaus directly at:

Equifax www.econsumer.equifax.com 1-800-685-1111
TransUnion www.transunion.com 1-800-916-8800
Experian www.experian.com 1-888-397-3742

~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, May 8th, 2007

Where Borrowers Can Find Help. There are many sources of counseling and information for borrowers in default. Among them are:

• Americans for Fairness in Lending, http://www.affil.org

• Freddie Mac's online guide to avoiding foreclosure, http://www.freddiemac.com ; under "Buying and Owning a Home" click on "Owning and Keeping a Home," then "Avoiding Foreclosure."

• Freddie Mac's Don't Borrow Trouble Hotline refers callers to appropriate local agencies for education, counseling and legal advice, (800) 477-5977.

• L.A. County Department of Consumer Affairs Real Estate Fraud and Homeowner Assistance Program, (800) 973-3370, lacountydca.info

• Los Angeles Neighborhood Housing Services, (213) 381-2862, http://www.lanhs.org

• National Assn. of Consumer Advocates, (202) 452-1989, http://www.naca.net

• NeighborWorks America, http://www.nw.org ; click on the icon for "NeighborWorks Center for Foreclosure Solutions," (202) 220-2300

• U.S. Department of Housing and Urban Development has certified counselors, (800) 569-4287, http://www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm.
Choose "Search Online." Select "California."

For legal help:

• American Bar Assn., http://www.abanet.org. Select "Legal Help."

• Legal Services Corp. hotline can help you find a legal services office in your area, (202) 295-1500, http://www.lsc.gov.

• Los Angeles County Bar Assn. Attorney referrals, (213) 243-1525

• National Assn. of Consumer Bankruptcy Attorneys, (202) 331-8005, http://www.nacba.org/attorneyfinder.

If you believe you are victim of mortgage fraud:

• If Freddie Mac owns the loan, (800) 437-2838

• For other lenders, contact the L.A. County Department of Consumer Affairs, (800) 593-8222, dca.lacounty.gov.

• To file a complaint with the Office of the Attorney General, (800) 952-5225, ag.ca.gov/consumers/general.php


~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, May 1st, 2007

Hey everyone! I have good news and bad news for you.

The bad news is that the United States Postal Service has decided to raise its postage rates on May 14th, 2007. A First-Class letter will increase from $0.39 to $0.41. Postcard rates will increase from $0.24 to $0.26. The last increase was on January 8th, 2006.

The good news is that I will be giving away sheets of $0.02 stamps! Just contact me and I will mail some to you!

Now for today's real estate news!

San Diego real estate market drags down UCLA Anderson Forecast. Weakness in the residential real estate market will continue to be a drag on San Diego's economy through 2008, according to a report released today by UCLA's Anderson School of Management. There are signs that the local real estate market is beginning to stabilize, but the economic "wild card" remains the historic high level of mortgage defaults, according to the UCLA Anderson Forecast. The Forecast said the combination of slower population growth and rising foreclosure rates suggests that the San Diego area's residential housing market will be weak for at least another year. "However, the absence of any serious economic weakness in the next two years suggests that a protracted bear market for housing is unlikely," according to the UCLA Anderson Forecast. "Thus, our forecast for the San Diego housing market is less building, weak sales volumes and flat to slightly falling home prices through 2007, with some improvements starting in mid-2008," the report states. Employment and income growth in the San Diego region will remain positive but sluggish through 2008 amid a slowdown in the leisure and hospitality industry and construction and mortgage finance sectors. The UCLA economists who produce the quarterly report will discuss the economic outlook for the nation, California and San Diego during a morning conference at the Manchester Grand Hyatt today. Click here to read more.

Agricultural land values increase. Farm and ranch land appraisers point to a moderating "Goldilocks economy"--not too hot and not too cold--for slower, more solid appreciation in California agricultural land values. Based on property sales in 2006 and the outlook for 2007, experts say most agricultural property values have inched upward, seesawing with economic shifts. Generally the past couple of years have offered fairly positive news for agricultural commodities and that has translated into steadily increasing land values, said Mark Clarke, Rabo Agrifinance lending affiliate. But that has not necessarily translated into ever-increasing income. Click here to read more.

Realtors' Chief Economist to Leave. David Lereah, chief economist of the National Association of Realtors, is leaving NAR to join Move Inc. as chairman and partner of a new business entity next month, NAR said Monday. Lereah has directed NAR's research division, regulatory and industry relations division and other activities. He will leave the association in mid-May, NAR said. As chief economist and senior vice president, Lereah is the NAR's spokesman on the U.S. economy and the housing and real estate markets. California-based Move Inc. provides homebuyers and renters with information about real estate and communities before, during and after moves, according to its Web site. Move Inc. operates NAR's Web site, Realtor.com. Neither NAR nor Move offered details about the new entity, but Move said more information would be forthcoming in the third quarter. The entity is "expected to be transformational for both consumers and real estate professionals," according to a Move news release. 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