Real Encinitas Real Estate and Carlsbad Homes » Advisory

Go Fishing This Weekend at Dixon Lake!

Encinitas Real Estate Insider — Wed, 02 Jun 2010 22:13:07 +0000

There are many things people consider in the process of purchasing a home. Of course, a home’s location is an extremely important factor and is never overlooked. A gargantuan mansion in the middle of the desert is worthless to a city dweller looking to enjoy the amenities and work opportunities of a metropolitan area. Likewise, a beautiful down town apartment near plenty of fine restaurants is unappealing to a adventure enthusiast looking for quick access to the wilderness and desert. However, I have come across a few Escondido homes that are appealing to both types of personalities.

The homes in Cape Concord Escondido are especially close to the Dixon Dam and Lake City Park. The park offers plenty of outdoor fun for anyone. In the summer time, boating, fishing, kayaking, and swimming are great activities. There is also awesome road biking and mountain biking for those wanting to elevate their heart rates. The fun doesn’t stop when it snows! People are regularly seen ice skating and cross country skiing the trails of the park. Check it out after work or over the weekend!

Southern California is unique in its contrasting environments. There is a little bit of something for everyone. If you are planning on moving to Southern California or are moving within, Escondido is a great place to live! Entire books can be written on the wonderful activities and people within, and hopefully you will find the Dixon Dam and Lake City Park a fun place to spend an afternoon out your Escondido home!

Here is one of the many videos featuring huge fish caught at Dixon Lake!

www.youtube.com/watch?v=Bufl2FwGezA

Go Fishing This Weekend at Dixon Lake! is a post from: Real Encinitas Real Estate and Carlsbad Homes

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Short Sale vs. Deed In Lieu vs. Foreclosure

Encinitas Real Estate Editor — Sun, 18 Oct 2009 22:29:02 +0000

Several factors have contributed to our current real estate climate. In the past years, many people were able to easily obtain financing. Most people could qualify for a loan based upon a marginal credit FICO score alone. In an appreciating real estate market, homeowners had the ability to continually refinance their homes to take equity to use for living expenses, home improvements, and purchases. Today, the loan qualifications are stringent. People must qualify with good income, low debt to income ratios, higher equity percentages, and high credit scores. Declining home values have failed to support the required equity and ratios needed for many people to refinance their homes. Subsequently, many people who purchased their homes when the market was higher, or took equity from their home to refinance, are now “upside down.” That means they owe more to the bank than their homes would sell for. In a “short sale” the seller attempts to market their home for a current market value offer, and then work with the lender(s) in an effort to have lender agree to a price less than owed. There are several criteria required to qualify for a short sale. The seller must produce evidence of a hardship situation such as loss of job, income, health issues, etc. and a lack of assets. What is the advantage of doing a short sale rather than letting the bank take the house back or giving a “deed in lieu” of foreclosure? Protection of one’s credit is one of the key elements, along with other components. Here’s a snapshot of the Fannie Mae guidelines. If you have a foreclosure, you may not be eligible to purchase a home for up to 5-7 years after the completion of the foreclosure sale. There are other specific requirements, and exceptions for “extenuating circumstances.” The time period after a “deed in lieu of foreclosure” is approximately 4 years, and generally only 2 years for a “short sale.” As a neighborhood homeowner, anytime I see a distress sale, my heart goes out to every single homeowner who is or has experienced a hardship that might ultimately result in a short sale or foreclosure. It is also disappointing to see how those sales may affect our market and comparable neighborhood sales, however, please know that our neighborhood, and our City, has experienced a much lower percentage of decline compared to other areas of San Diego County. As an experienced, successful short sale listing agent, I can help counsel and guide anyone who may be in a position where they have little or no equity and need to sell their home. I know what it takes to put the short sale package together, and aggressively market the home for a FAIR and REASONABLE market value. It is upsetting to me to see other neighborhood homes come on the market as short sales, without the listing agent marketing them in an effort to achieve a fair market value price. Just today, a Summerfield home on Crest Drive came on the MLS for $450,000, a short sale, immediately in “contingent” status with an accepted offer pending lender approval. From what I could see, this home was never put out there on the market first, to obtain the highest bids, and could ultimately result in a very low sale that could adversely affect neighborhood values. Furthermore, the photo is the MLS appears to have taken from the previous listing years ago, and looks nothing like the home at present. No marketing or advertising and no effort to achieve a fair market value, from what I can tell. If you or anyone you know are in a position where more is owed than the home is worth in today’s market, please give me a call. I will provide an honest, empathetic, experienced point of view, and help you or someone you know make an informed decision with what’s right for their current situation. I know what to do, and I’m here to help. With two decades of experience, I’ve weathered all markets, and I’m here to make the best of any situation!

Sincerely, Linda Moore

Short Sale vs. Deed In Lieu vs. Foreclosure is a post from: Real Encinitas Real Estate and Carlsbad Homes

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Flood or Fire Damage! Help is a Call Away!

Encinitas Real Estate Editor — Fri, 25 Sep 2009 20:04:17 +0000

One of the biggest disasters that can affect your possessions and the value of your home in the Encinitas real estate market and Carlsbad real estate market is damage done by floods and fires. Even worse is when those problems lead to further disasters of mold, mildew, and smoke damage as well. Whether you have been a recent victim of flooding or a fire at your house in Encinitas or Carlsbad, or are just planning ahead to make sure you know who to turn to in case the worst happens to your home, choose one of these useful flood and fire cleanup companies.

Central Flood Management
(760) 753-8080

Not only do they specialize in water and fire damage restoration, but they are proficient in sewage damage as well. With 24 hour emergency service, you can bet that Central Flood Management will provide fast, immediate response to any disaster that may strike your home. From start to finish, they don’t stop working until the job is absolutely complete. They feature emergency water removal from broken pipes or any other cause of flooding, complete and total structural drying, remove odor and mildew, and repair leaks in slabs or drywall. When it comes to fire repair, they’re top notch by providing board-ups for doors and windows and thermal flogging. Central Flood Management even goes as far as packing up and moving your furniture if they are in danger of being affected by the fire or flood. From homes to high rises, no job is too big or too messy for Central Flood Management.

Afloat Flood Service
(760) 753-7389

The good people at Afloat Flood Service want to keep you “afloat” in case your house floods out of control. Their 24 hour emergency service helps extract water from your home, completely dry the structure of your home, complete odor and mildew control, and sewage removal in extreme cases of flooding. Even if you’re simply worried that you may have a potential leak in your home that may lead to future flooding, they offer a free leak detection service to gauge how bad the leak may get. Their certified specialists are insurance company approved and they even pay your insurance deductible up to $500. So don’t drown in your problems longer than you have to, and contact the pros at Afloat Flood Service before it gets too out of hand.

Rainbow International Restoration & Cleaning
(760) 945-6077

An independently owned and operated franchise, Rainbow International Restoration & Cleaning offers restoration services from fire, water damage, mold and smoke. They’re 24 hour emergency response promise means that you will have your house back to normal after a disaster immediately. And their expert carpet cleaning service ensures that your house will be restored from ceiling to floor. If you want to trust someone to do the job like their own home is the one that’s damaged, then choose Rainbow International Restoration & Cleaning.

Flood Masters
(760) 670-4499

Backed by a $250 gaurantee, Flood Masters are always on time because they believe in immediate service when your home is the victim of a fire or flood. There won’t be any surprise costs on your bill either as they follow strict insurance industry guidelines in estimating the damage repairs to each individual home they serve. Their detailed cleanup process tests for mold and asbestos that may not be recognized by another company. No space is too small for them to inspect, as even crawl spaces are examined and restored. Flood Masters provides quick response to your emergency day or night, so call now because every minute counts when your home and possessions are threatened by increased damages.

Flood or Fire Damage! Help is a Call Away! is a post from: Real Encinitas Real Estate and Carlsbad Homes

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Protect Your Family and House with an Alarm System

Encinitas Real Estate Editor — Thu, 24 Sep 2009 23:49:10 +0000

It makes no sense owning one of the many beautiful homes in Encinitas or Carlsbad if you aren’t prepared for an emergency. Burglaries threaten your possessions, your family, and the value of your home in the already shaky Encinitas real estate market and Carlsbad real estate market. Protect the safety of your family and your house with one of these suggested security systems. Danger isn’t limited to just burglaries, as these alarm systems guard against fire, carbon monoxide, and even medical emergencies as well. Feel free to take a look and explore some of the finer alarm and burglary prevention companies around town.

Five Alarm Security
(760) 930-9099

Protect what you treasure the most with a professionally installed full security system from Five Alarm Security. They are locally owned and operated in Carlsbad and is an authorized security dealer for Honeywell. Geared towards both residential and commercial needs, Five Alarm Security can take over existing alarms and set you and your family or business up with remote video surveillance and closed circuit TV to monitor your entire location. Install your system today and have access to 7 days a week, 24 hours a day service because Five Alarm Security knows burglars and emergencies don’t take vacations.

Brinks Home Security
(760) 300-3554

Brinks Home Security offers easy to use systems and 24/7 monitoring of your home. They are committed to providing rapid response to ensure the safety and comfort of your house, as you know that they will respond to any emergency as quickly as possible. With a Brinks Home Security system installed in your house, you can save up to 20% on homeowners insurance as well. Call for their specials including $99.00 standard installation, a free second keypad installation, and a free security system analysis at your home. Brinks Home Security wants to put your mind at ease because they’ll watch over your home even when you can’t.

Premium Alarm Systems
(760) 201-0632

Owned and operated by a Veteran, Premium Alarm Systems guarantees peace of mind that your house will be monitored at all times from any danger. They offer all major brands of alarms and can either install wireless or hardwire alarm systems in your house with next day service available. Ask about their free security consultation and 24/7 protection plans when you call. Whether you’re looking for video surveillance, smoke and fire protection, medical emergency alert, or an electronic perimeter security system around your house and property, the locally owned and operated folks at Premium Alarm Systems want to make sure you’re completely satisfied with the system so you can enjoy peace of mind in your home. Discounts available to Veterans and Senior Citizens as well, so make sure to ask about those special savings!

Protect Your Family and House with an Alarm System is a post from: Real Encinitas Real Estate and Carlsbad Homes

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About Home Loan Modification and Things to Beware Of

Linda — Mon, 03 Aug 2009 22:42:20 +0000

About Home Loan Modification and Things to Beware Of:

Many people can no longer afford to pay their present mortgages due to current economic or health conditions and may be unable to refinance. One option that may be available to you is a Loan Modification.

Just what is a Loan Modification? A loan modification is an agreement between you and your lender to modify one or more of the terms of your loan. Examples of such could be a lower interest rate, extension of loan length (like making a 30 year loan into a 40 year loan), a conversion from an adjustable rate to a fixed rate, the deferring of some of your payments, or any other modifications of loan terms.

The ultimate goal of a Loan Modification is to help people keep their homes, and to offer a sustainable long-term solution that works for you financially.

BEWARE OF LOAN MODIFICATION CON ARTISTS & SCAMS, WHO USUALLY DEMAND THE PAYMENT OF UPFRONT FEES. Right now, there are numerous companies and dishonest operators taking advantage of people, (many of whom are unlicensed) that have come into existence as a result of these tough times. Some make people false promises related to their abilities to help get you a loan modification, collect money up front, and ultimately do next to nothing.

THINGS TO DO TO PROTECT YOURSELF FROM BECOMING A FORECLOSURE OR LOAN MOD VICTIM:

A. Do It Yourself ASAP: – You can contact your mortgage servicer or lender. Don’t wait to call until you cannot make or believe you will not be able to make your mortgage payments. Be persistent! – call back many times. Make detailed notes about your attempts to call, when you have left messages, who you speak with, what was said, and what offers are discussed and/or made.

B. Other Free and Safe Options – If you don’t believe you can negotiate a Loan Modification yourself, or if you do not want to, there are free and safe options available.

1) HUD offers Foreclosure Avoidance Counseling and information through various non-profit agencies. Go to www.hud.gov or call 1-800-569-4287.
2) HOPE NOW ALLIANCE: www.hopenow.com is a cooperative effort of loan counselors and lenders and intermediaries from HUD. PH# 1-888-995-HOPE.
3) Work with a legitimate, licensed, qualified company or person.

While it is legal for a real estate broker to charge you in advance of performing the loan modification services before a Notice of Default is recorded, you do not have to pay anything in advance of a successful loan modification, and all broker fees are negotiable. Visit the California Dept of Real Estate website for more information related to collection of advance fees. www.dre.ca.gov

4) Licensed California attorneys may perform loan modification work, but only when such lawyers render those services are rendered in the course and scope of their practice as an attorney. They can also charge fees in advance (typically called a retainer), and even after a Notice of Default has been recorded. But attorneys must have a written fee agreement with you. And as is the same case with real estate licensees, you do not have to pay anything in advance of a successful loan modification. In addition, all fees are negotiable.

About Home Loan Modification and Things to Beware Of is a post from: Real Encinitas Real Estate and Carlsbad Homes

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New Changes Related to Appraisals

Linda — Wed, 20 May 2009 21:50:47 +0000

Home Valuation Code of Conduct (HVCC)

As part of a settlement reached between the New York State Attorney General and Washington Mutual, Fannie Mae and Freddie Mac have agreed to adopt a “Home Valuation Code of Conduct”. The HVCC requires that all institutions delivering loans to Fannie Mae and Freddie Mac comply with the terms of the agreement. The primary emphasis of the Code it to isolate the appraiser from the possibility of influence or coercion by a lender’s “loan production staff” to deliver a valuation that may be inflated.

What does this mean to consumer who needs financing to purchase a home? When the lender orders an appraisal they cannot order it directly from the appraiser anymore they have to order the appraisal through an appraisal management company who will then randomly assign the appraisal request to an appraiser who is on the appraisal management company list of approved appraisers. This my delay loan approvals by two to three days due to the fact that now a third party is now involved in the asset documentation portion of the loan approval and an additional fee may be applied for this service as well. This is for conventional loans only and does not apply to government insured loans such as FHA.

This is an example of the on-going changes the residential lending industry is going through to re-write how consumers can qualify for a home loan and protect their interest in that investment. For more details you can contact me or your local mortgage banker.

Curt Conkling; curt@curtconkling.com and visit my website at CurtConkling.com

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Short Sale Buyer Advisory

Linda — Tue, 19 May 2009 21:33:34 +0000

Short Sale Buyer Advisory

Are you looking for a new home? During your search for your new home you and your agent may view some properties that are offered as a “Short Sale”. These are properties that typically have loan balances in excess of the asking price. I feel it is important for you to understand the challenges in pursuing short sale properties. Short sale properties do not follow a traditional purchase process. Although the contract is similar, the time frame and approval process actually vary significantly from a traditional transaction. Every bank has a different set of rules and priorities, as well as contractual requirements.

With this in mind, it is important to know that pursuing a short sale purchase is a lengthy process that requires patience and perseverance, which you should understand may not be rewarded in the end. It is not uncommon for the process to take months. The seller’s motivation is to accept an offer and submit it to the bank in an effort to sell the home and be relieved from further financial obligation. The bank, in contrast to an ordinary seller, has no emotional attachment to the transaction. In fact, many banks merely weigh the benefits of carrying the property versus taking the loss on their balance sheet today.

Sellers of short sale properties are often, understandably, under stress. As a buyer you should be aware that, even if their lender has approved a short sale under terms and conditions favorable to you, a seller may decide to file bankruptcy or attempt to cancel the sale at any time. This may result in you having paid inspection, appraisal and other fees for which you may not be reimbursed or may have no recourse for reimbursement. You are advised that your agent has no control over the actions of the seller and has no obligation to reimburse you for your expenses.

(The above is a message from Jeff Hayes, Managing Broker,Coldwell Banker Encinitas)

Short Sale Buyer Advisory is a post from: Real Encinitas Real Estate and Carlsbad Homes

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