Archive for the 'Real Estate News' Category
Why You Should Buy That Home Now
Posted by Mira Bozanich | Leave A Comment »
Why You Should Buy That Home Now – Real Estate by AnnaMaria Andriotis
The Obama Administration’s proposals to extricate the government from Mortgage Lending sounds like the death knell for Freddie Mac and Fannie Mae. That is not good news for Homebuyers, either. In the proposals there were changes that will mean more Expensive Mortgages, with Higher fees and, probably, higher interest rates, larger Down Payments, and in the longer term, fewer Lenders to choose from.
The changes aren’t effective immediately, and some, if passed by Congress, won’t go into effect for few years. Even so, they pose a dilemma for today’s would be Homebuyers. Loans are cheaper today than they’re likely to be in the future – but one of the unintended consequences of the proposals could be another drop in the home prices should higher mortgage costs dampen demand. Unfortunately, there’s no single right answer, experts say.“Buyers should not rush in- but there is no reason in most markets to delay waiting for something better to come along – it probably won’t” says Barry Zigas, director of Housing policy at the Consumer Federation of America.
Congress will ultimately decide whether Fannie And Freddie have a future, and whether the other changes could go into effect as soon as this fail. Here are the Big Three:
Smaller Mortgages – In October, the Maximum size of Mortgages in high-cost cities backed by Freddie Mac and Fannie Mae will shrink – from &729,750 to $625,500. The $417,000 amount for moderately priced area will remain the same.
Higher Fees - In November, the Federal Housing Administration could raise Mortgage Insurance Premium Fees 0.25% for Borrowers. The hike comes out to an extra $250 per $100,000 of mortgage per year. Over the life of 30-year $300,000 mortgage, the higher rate means an additional $12,000 more in payments.
Bigger Down Payment - Currently, Borrowers can try to get a mortgage from a Bank with just 5% down, because that mortgage is going to be sold to Fannie Mae or Freddie Mac. According to the proposals, that requirement would Increase to 10%.
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Exclusive Properties Leads the Way in Technology with PicturePerfectSanDiego Blog
Posted by The Lifestyles Team | Leave A Comment »
We’ve said it before, and we’ll say it again: Exclusive Properties is leading the way in real estate technology. Our local blog, PicturePerfectSanDiego, now has over 344 agent contributors. Director of Business Development, Rich Johnson, announces, “We have been acknowledged to be the largest agent participation broker blog site in the country.” We have had over 200 different contributors to the site in the last 12 months, and now we have 108 pages of original content, almost 1100 original posts, that have generated over 600 comment generated interactions with us.
So what is it that makes Exclusive Properties’s blog site so different than all of the other real estate blogs out there? “There are a lot of real estate brokerages who started blogs. What makes our site different is that we are actively using it to create new opportunities for our agents,” said Erica Vautier Liodice, the Director of Marketing. “We have hundreds of agents who are researching communities, writing articles and connecting with San Diego homeowners. Having a blog isn’t enough. You have to find a way to create results.”
PicturePerfectSanDiego has a website Grade-94. This means that of the millions of websites that has been previously been evaluated, our algorithm has calculated that this site scores higher than 94% of them in terms of its marketing effectiveness. The algorithm uses a proprietary blend of over 50 different variables, including search engine data, website structure, approximate traffic, site performance, and others.
The President of Real Estate Tomato, Jim Cronin boasts, “I can’t think of another company leveraging the power of blogging as effectively as Exclusive Properties San Diego.” What a great compliment! If you’d like to become a part our innovative team, or just want to talk tech with a top Marketing Director, feel free to get in touch with Erica Vautier Liodice at [email protected]. She can fill you in on how you can start participating and reaping the benefits that come from working with our local brokerage.
Related Posts: Awards and Recognitions, Careers at Exclusive Properties, Exclusive Properties, Exclusive Properties Agents, Exclusive Properties Offices, Join Exclusive Properties, Marketing, Picture Perfect San Diego, Real Estate News, San Diego, Technology
Adrienne’s Events and Activities February Calendar for San Diego,How About Free Museum Tickets!
Posted by Adrienne Dimeno | Leave A Comment »
February is Museum Month!
San Diego Museum Month, presented by Macy’s, returns in February, 2011.Pick up Free Museum tickets at any Macy’s store in San Diego for the month of Febuary.
Coronado Valentine’s Day 10K at Tidelands Park
Come out to Coronado for the Inaugural Coronado Valentine’s Day 10K. This flat…
Tidelands Park
Coronado, CA
Sun, Feb 13
7:15 AM
Traditions from Spain – paella with seafood, and paella with chicken and…
Savory Deli & Market
San Diego, CA
Sat, Feb 12
7:00 PM
Other dates
Baja California Lobster Culinary Tour Feb 20th
The one day Baja California Lobster Culinary Tour takes you from San Diego to…
City of San Diego
San Diego, CA
$42 to $76
Sun, Feb 20
10:00 AM
Other dates
Olympic Gold Medalist Evan Lysacek and Silver Medalist Sasha Cohen will be…
Valley View Casino Center (formerl…
San Diego, CA
$29 to $139
San Diego Whale Watching Expedition
Take advantage of whale watching season during the annual migration of the…
City of San Diego
San Diego, CA
$15 to $34
Tue, Feb 8
9:45 AM
Other dates
Circus Vargas presents an entirely new show for 2011, under our Big Top Tent!…
Balboa Park, Presidents Lawn
San Diego, CA
Thu, Feb 10
7:30 PM
Other dates
Sat, Feb 19
7:30 PM
The Dinner Detective Murder Mystery Show
It is a four-course sit-down dinner in which each guest is allowed to choose…
Embassy Suites San Diego Bay
San Diego, CA
$59.95
Mon, Feb 14
7:15 PM
Other dates
Get into blockbuster thrills. Go behind-the-scenes on the world-famous Studio…
City of San Diego
San Diego, CA
$93 to $103
Sat, Feb 12
7:30 AM
Other dates
Jane Austen’s Emma – A Musical Romantic Comedy” Feb 8th
Emma, a timeless love story from one of the most widely read writers of all…
$39-$94
See The Wizard Of Oz at San Diego Civic Theatre in San Diego. The musical…
San Diego Civic Theatre
San Diego, CA
$75 to $132
Tue, Feb 15
7:00 PM
Other dates C
San Diego Chinese New Year Fair
Celebrate the Year of the Rabbit at the FREE Chinese New Year Fair in San…
San Diego Chinese Historical Museum
San Diego, CA
Sat, Feb 12 10:00 Am
Tickets $39-$97
7:00 Pm
I Can show you San Diego, It’s not if I can help you it’s when! Always use a professional for professional results!
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Beware of Forged Grant Deed Scam!
Posted by Karen May | Currently 3 Comments »
You never think a scam could ever happen to you. Well I thought the same thing , until last week! My husband and I have been investing in real estate for the last 3 years, and we purchased a property in Vista last month from another investor who had purchased it from the bank (no Realtors were involved). As a Realtor, I am very cautious and did my due diligence. I looked up tax records and previous MLS information about the property. I even had title run a search on ownership and they came back with a grant deed recorded 3 weeks prior transferring title from the bank to this investor. So we submitted an offer and opened escrow. As an entity purchasing the property, we had to supply title with all of our documentation showing ownership of our entity, just as the seller had to do as well, to verify the entities are not fake. Title verifies the documentation and that the entities are currently registered with the state. Only after that verification process, I was told, will title allow escrow to close. So both entities passed title inspection and we closed escrow.
In the meantime, we contacted the tenants who were still living in the property and they agreed to move out early, after they secured a new place to live. Two weeks later the tenants are served notice to vacate the house due to eviction by the bank, Wachovia. We immediately contacted the attorney who filed the eviction notice and explained we were the new owners. We sent them our recorded grant deed and the one showing Wachovia sold the property to our seller. Several days later we receive a call from the tenant that the sheriff is at their door trying to evict them. I immediately rush over there with all documentation in hand, and was confronted by a Wachovia representative that they still own the house and we have been “scammed”. The bank never sold the house and the grant deed that was recorded is a fake. They have been trying to find the criminals who created a fake grant deed and have documentation on 3 other homes they’ve also created fake deeds on, and involve 2 other banks as well. Needless to say I was speechless! What do you say when someone tells you you have just been scammed out of $250,000.
The one saving grace is that we had just opened escrow a few days prior on a second property in Vista with the same seller, since we thought we had such a great first transaction. We were scheduled to close this week. We contacted the Police Dept to file a report. They were able to use this opportunity of another escrow transaction to catch the criminals in the act of a second fraud while signing escrow documents on the second property. The seller and his two cohorts were immediately arrested! We are now working with police, title/escrow and Wachovia to sort out the details. On another happy note, thank goodness for title insurance! Without title insurance, we would owe $250,000 to the lender on a house we don’t own.
We have researched how this happened, what we could have done to prevent this, and have been told by numerous people that there was no way of our foreseeing this fraud. The criminals created a realistic looking grant deed, forged the bank officials signatures and the notary signature and seal, and it all looked real. They recorded it and when the title company researched the ownership, they found the recorded deed verifying the suspects owned the property. We’ve asked and been asked what could be done differently next time to catch this type of fraud and prevent it from happening again. No one can seem to answer that question for us. If you have any ideas, or information that could help, please post a response. We would love to hear from you.
2011 will still be a great year for us! This experience will only make us stronger and more cautious on whom we do business with in the future. I can definitely say that if this same scenario ever presents itself again on a purchase, I will be calling the bank next time to verify they truly did sell the property. What’s that saying…….. “fool me once, shame on you, fool me twice, shame on me.”
Our only words of advice - know who you’re doing business with and purchase title insurance!
Karen May [email protected]
Related Posts: Agent Services, Contracts & Negotiations, Escrow, Exclusive Properties Agents, Industry Updates, Insurance Services, Real Estate News, San Diego
Women’s Council of Realtors Luncheon~ February 10 Inside Scoop
Posted by The Lifestyles Team | Leave A Comment »
Women’s Council of REALTORS® San Diego Chapter Presents:
February 10, 2011 Business Resource Meeting (Buffet Lunch Included)
Date: Thursday, February 10th, 2011
Time: 11:30 a.m. – Networking 12:00 p.m. to 1:30 p.m. Meeting & Lunch
Bring your business cards!
Where: Admiral Baker Golf Course Clubhouse Restaurant
2400 Admiral Baker Rd, San Diego, CA 92120 (619) 487-0090
Cost: $30.00 Members Prepaid; $40.00 Non- Members Prepaid
Deadline for Reservations: Today Monday, February 7th, 2011 www.WCRSD.org
Top Broker’s Panel; The Inside Scoop
Steve Rodgers – Exclusive Properties
Jim Reifess – Prudential California Realty
Isabel Hall – McMillin Realty
Leona Kline – Keller Williams Realty
Bud Clark – Willis Allen
Bob Kevane – Moderator
Remember to reserve your space NOW, deadline is today Feb 7th www.WCRSD.org
Related Posts: Activities & Events, Area Information, Exclusive Properties, Industry Updates, Market Trends, Real Estate News, San Diego
