No Comments!
I've had no comments on any of my postings. It is a little frustrating that no one seems to find my input of any value.
The Real Estate market has been slow. I do have a house in escrow, however the loan end has been giving my client some headaches. They were going for a USDA financing and the government didn't fund it for enough or long enough and the mortgage company had to pull it and change it to FHA.
This of course added expenses to both the buyer and the seller, including a new FHA approved appraisal.
Then, lo and behold, USDA has money again. So we are back to this.
Hopefully we will get it funded before they run out again.
My broker, Terri has a few houses in escrow. I was talking to the agent that I am working with and she stated that she has ten homes in escrow. Her office is in Tulare, a larger and growing community. (I've known agents to exaggerate to make it seem they are doing well.)
I've been driving school buses to supplement my income while the market is slow. I drove my last trip for this school year this past week and will have the summer off.
I enjoy driving, but would rather be working on real estate.
Saturday, May 29, 2010
Wednesday, May 12, 2010
Anyone out there?
Is anyone reading my blog?
There is a certain amount of hope that when I write a blog there is someone benefiting from "my vast knowledge" (he,he).
Of course everyone wants to be heard. I am no exception. Do I have vast knowledge? No, not really, but I do try. I read articles regarding Real Estate and when I see something of interest I will quote it or paraphrase to make it fit. If appropriate I will say where I got the information.
I started my blogs to help people who are new to Real Estate understand what they might need to know, or should know, when they purchase or sell Real Estate.
I didn't want to put anything personal which so many of the bloggers do. That is not a good idea, not my attitude, but law enforcement, lawyers and many other professionals that write regarding bloggers.
One does need to be careful.
Getting to Real Estate.
My acquaintance that usually has some interesting information regarding the market included in his interest rate notification this morning that Hedge Fund Manager, John Paulson, who in 2007 made billions of dollars betting that Real Estate housing market pricing was going to fall is now betting that the market will increase from 3 to 5% this year and as much as 8 to 12% next year.
Even if he is only partially correct and it increases by 2% that would be very good for him and the homeowner and Real Estate investors. (partially gathered from MMG).
So the point is, if you already have a home, hang on to it for awhile longer and of course you will recoup some of your losses and if you are buying now is the time to buy so you can get in on the ground floor.
There is a certain amount of hope that when I write a blog there is someone benefiting from "my vast knowledge" (he,he).
Of course everyone wants to be heard. I am no exception. Do I have vast knowledge? No, not really, but I do try. I read articles regarding Real Estate and when I see something of interest I will quote it or paraphrase to make it fit. If appropriate I will say where I got the information.
I started my blogs to help people who are new to Real Estate understand what they might need to know, or should know, when they purchase or sell Real Estate.
I didn't want to put anything personal which so many of the bloggers do. That is not a good idea, not my attitude, but law enforcement, lawyers and many other professionals that write regarding bloggers.
One does need to be careful.
Getting to Real Estate.
My acquaintance that usually has some interesting information regarding the market included in his interest rate notification this morning that Hedge Fund Manager, John Paulson, who in 2007 made billions of dollars betting that Real Estate housing market pricing was going to fall is now betting that the market will increase from 3 to 5% this year and as much as 8 to 12% next year.
Even if he is only partially correct and it increases by 2% that would be very good for him and the homeowner and Real Estate investors. (partially gathered from MMG).
So the point is, if you already have a home, hang on to it for awhile longer and of course you will recoup some of your losses and if you are buying now is the time to buy so you can get in on the ground floor.
Friday, May 7, 2010
Real Estate Agents
Most Real Estate agents are honest and straight forward in their dealings with their clients...that's you.
People choose their agents by various means.
Some choose a friend. Some choose one from what they heard about them from their friends. Some use the one their family has used for years.
Some take the time to go to the Internet and see if they can find anything good...or bad...about the agents.
Some go and interview the different agents and use a gut feeling as to whom they want to use.
And some look to see who will cost them the least to sell their house.
So how are you supposed to choose your agent?
Any combination of the above works pretty well.
You can also just walk into an office and use who ever has the floor at that time. "has the floor" means that their are enough agents working in the office that time frames are assigned to each agent that they can have whoever calls or walks in asking for an new agent.
You need to feel comfortable with your agent. Don't just take their word that they are doing things for you. You are the boss, they are your employee, via contract, and make sure that they are a REALTOR! (Realtor is now a registered trade mark not just a name!)
A 'Realtor' is an agent that has registered within their area Real Estate area and pays a fee to say that they are a 'Realtor' and lives by the guidelines that they promise to live by.
As a Realtor we owe our clients, that's you, a fiduciary duty. That means we represent you...not ourselves or anyone else. That we are acting on your behalf and make certain that you understand your contracts, disclosures, offers, and anything else that comes up regarding the sale or purchase of the property you are involved in.
So get to know your Realtor. Ask them questions. They should be open and honest and willing to answer your questions.
People choose their agents by various means.
Some choose a friend. Some choose one from what they heard about them from their friends. Some use the one their family has used for years.
Some take the time to go to the Internet and see if they can find anything good...or bad...about the agents.
Some go and interview the different agents and use a gut feeling as to whom they want to use.
And some look to see who will cost them the least to sell their house.
So how are you supposed to choose your agent?
Any combination of the above works pretty well.
You can also just walk into an office and use who ever has the floor at that time. "has the floor" means that their are enough agents working in the office that time frames are assigned to each agent that they can have whoever calls or walks in asking for an new agent.
You need to feel comfortable with your agent. Don't just take their word that they are doing things for you. You are the boss, they are your employee, via contract, and make sure that they are a REALTOR! (Realtor is now a registered trade mark not just a name!)
A 'Realtor' is an agent that has registered within their area Real Estate area and pays a fee to say that they are a 'Realtor' and lives by the guidelines that they promise to live by.
As a Realtor we owe our clients, that's you, a fiduciary duty. That means we represent you...not ourselves or anyone else. That we are acting on your behalf and make certain that you understand your contracts, disclosures, offers, and anything else that comes up regarding the sale or purchase of the property you are involved in.
So get to know your Realtor. Ask them questions. They should be open and honest and willing to answer your questions.
Thursday, May 6, 2010
LOCKING INTEREST RATES
I was home this morning and the news was on what was happening in Greece and the direct affect it was causing on our stock market. I watched the Dow Jones drop almost 1000 pts or 10% of its starting value and then reclaim almost 500 pts.
People are worrying how Greece and especially the riots that are occurring there and about what Greece is planning do, will affect not only them but especially several of the other European countries.
A commentator for Fox News said that our glorious state of California could find itself in the same position as Greece because it too is bankrupt and the state has many groups that get hand outs that could find their monies being cut drastically since all of their monies come from the state coffers.
But I digress!
People are worrying how Greece and especially the riots that are occurring there and about what Greece is planning do, will affect not only them but especially several of the other European countries.
A commentator for Fox News said that our glorious state of California could find itself in the same position as Greece because it too is bankrupt and the state has many groups that get hand outs that could find their monies being cut drastically since all of their monies come from the state coffers.
But I digress!
Locking Loans is a term used in the mortgage business that allows you at some point to lock your interest rate if you feel it is going to climb any. Your mortgage broker is only required to ask you once and then it is up to you to accept his experience and lock or to take your chances and see if the interest rate drops or climbs before you call him back to lock.
My friend in the mortgage business has advised that if it is possible to lock interest rates before tomorrow when the unemployment numbers come out. From his sources he thinks its going to be bad. He locked three of his this morning. He thinks mortgage interest rates are going to skyrocket again. Maybe with a slow burn fuel...but skyrocket none the less.
Wednesday, May 5, 2010
Bond Market and the governement
I just received an interesting email from a friend regarding Greece's financial situation and investor staking their monies and putting it in Mortgage Bonds.
I discussed recently how our world is shrinking due to instant access via computers and other communicating equipment. What happens in Greece...USA...Great Brittain...China...no longer stays there as advertisers of our 'recreation cities' like to advertise. It is known almost instantly around the world and affects everyone.
The people that want a one world government are getting just that. Albeit through the financial markets...because it is a one world financial market and what affects one affects all.
Watch what our government does and so follows the world. Watch what China and any other country does and so follows everyone else and those who want more government smile.
Me - I want the government to stay out of most things. They don't need to be controlling what I eat, what I drink, where I worship, what I think...etc. They needed to stay out of the financial world, let the banks fall that should have fallen; let the strong, safe banks pick up the leftovers and we would have come through it.
All the government does is slow down the fall that is inevitable. Actually if they had stayed out of it in the first place, forcing banks to make loans to people that couldn't afford it in the first place, this would never had happened.
It was the liberals that strongly suggested to the banks to modify their programs so that anyone that wanted to own their own home, because it is 'ever ones' right, to own their own home no matter what their financial abilities and histories may be. They bowed to the then in power government created new financial criteria to meet this demand...made billions...and then crashed.
It was because of this that the government bailed them out.
The government created the situation and now you, your neighbor, and the guy across the country, my children and grandchildren will be paying for their political agendas for the next several generations.
But then...aren't we all still paying of the previous generation political agendas.
I discussed recently how our world is shrinking due to instant access via computers and other communicating equipment. What happens in Greece...USA...Great Brittain...China...no longer stays there as advertisers of our 'recreation cities' like to advertise. It is known almost instantly around the world and affects everyone.
The people that want a one world government are getting just that. Albeit through the financial markets...because it is a one world financial market and what affects one affects all.
Watch what our government does and so follows the world. Watch what China and any other country does and so follows everyone else and those who want more government smile.
Me - I want the government to stay out of most things. They don't need to be controlling what I eat, what I drink, where I worship, what I think...etc. They needed to stay out of the financial world, let the banks fall that should have fallen; let the strong, safe banks pick up the leftovers and we would have come through it.
All the government does is slow down the fall that is inevitable. Actually if they had stayed out of it in the first place, forcing banks to make loans to people that couldn't afford it in the first place, this would never had happened.
It was the liberals that strongly suggested to the banks to modify their programs so that anyone that wanted to own their own home, because it is 'ever ones' right, to own their own home no matter what their financial abilities and histories may be. They bowed to the then in power government created new financial criteria to meet this demand...made billions...and then crashed.
It was because of this that the government bailed them out.
The government created the situation and now you, your neighbor, and the guy across the country, my children and grandchildren will be paying for their political agendas for the next several generations.
But then...aren't we all still paying of the previous generation political agendas.
Tuesday, May 4, 2010
Coalinga is a friendly community
Having been raised in Los Angeles, and raised my children in Sacramento, it is almost always amazing to me at the friendliness of a small community.
Fifteen years ago I moved to Coalinga for a transfer within the State's prison system. I was staying at the Cambridge Inn and went my first morning before work to eat breakfast at Perko's. As I walked in about half a dozen men greeted me with smiles as I passed them on my way to my booth and I thought...this is great.
It still surprises me at the number of smiles and greetings I get when going into a restaurant, or store, or post office and even when you see the police (as long as your not being ticketed or some other problem).
Everyone knows everyone, and even if they don't know you, they still smile and say hello.
Of course, there are some people who might disagree with me, but then they would probably have that problem no matter where they lived.
I remember the story of a person who moves into a new town and he sees a bunch of men sitting around a cracker barrel playing checkers. He walks up to them and tells them he's new in town and was wondering what his neighbors would be like. One of the men looked up at him and asked, 'well, what were your neighbors like in the last town you lived in?' He responded that they were real nice. Then the man responded 'well, i guess you'll find your neighbors real nice here too.' He then went back to playing checkers.
Moral of the story. I you like where you live now and are moving to a new community, you will more than likely like the new community too.
Fifteen years ago I moved to Coalinga for a transfer within the State's prison system. I was staying at the Cambridge Inn and went my first morning before work to eat breakfast at Perko's. As I walked in about half a dozen men greeted me with smiles as I passed them on my way to my booth and I thought...this is great.
It still surprises me at the number of smiles and greetings I get when going into a restaurant, or store, or post office and even when you see the police (as long as your not being ticketed or some other problem).
Everyone knows everyone, and even if they don't know you, they still smile and say hello.
Of course, there are some people who might disagree with me, but then they would probably have that problem no matter where they lived.
I remember the story of a person who moves into a new town and he sees a bunch of men sitting around a cracker barrel playing checkers. He walks up to them and tells them he's new in town and was wondering what his neighbors would be like. One of the men looked up at him and asked, 'well, what were your neighbors like in the last town you lived in?' He responded that they were real nice. Then the man responded 'well, i guess you'll find your neighbors real nice here too.' He then went back to playing checkers.
Moral of the story. I you like where you live now and are moving to a new community, you will more than likely like the new community too.
Monday, May 3, 2010
May is a great month!
May is here!
Weather is finally starting to warm up. It's in the 80s and feels good. Though my preferred temperature range is in the mid 70s.
One of the nice things for Coalinga there is usually a light breeze in the afternoon. Though the breeze can turn into a stiff breeze.
One of the nice things that I have liked about Coalinga is its smallness. People know each other, for the most part are there to help one another and it is a religious community. Among the churches that I can think of off the top of my head are: Catholic, Mormon, Baptist, Episcopalian, Adventist, Jehovah Witnesses, Pentecostal, Assemblies of God...
Is Coalinga perfect? No, not really. But we don't have police helicopters circling over head all night long...we have gang activity, though mostly young kids.
People complain about the gangs and graffiti, the lack of police protection (they are not pro-active but rather re-active); our local hospital which most of us would rather avoid and go 45 miles to a better equipped hospital; of course our local politicians; the schools; the roads and of course the weather.
We are just like any other small/rural community, worse than some but better than a lot more.
This of course is one man's opinion. It is what I hear when at the local restaurants, at the store, or when I am driving a bus for a field trip with some teachers that I happen to know.
Mostly, I like Coalinga. I've always wanted to live in a small town. I don't mind traveling 45 minutes to an hour to go to a nice store, a large movie theater with a nice surround sound system, a large shopping mall, or someplace different to dine at.
Some people come to Coalinga and find it too rural. They want or need shopping malls. They want a larger school district with more money to spend on facilities, sports, music, the arts, and academia.
They feel isolated. And yes...we are isolated. We are 15 miles West of Interstate 5, half way between Los Angeles and Sacramento. We are 70 miles South West of Fresno, and 75 miles West of Visalia. We are surrounded by Pacific Coast Mountain Range on the West, Oil Fields and agriculture.
House wives and others are constantly having to dust. It is never ending. You dust the furniture, put things away, turn around and dust is already settling on the coffee table.
But those of us who stay here. Love it.
Till next time.
Weather is finally starting to warm up. It's in the 80s and feels good. Though my preferred temperature range is in the mid 70s.
One of the nice things for Coalinga there is usually a light breeze in the afternoon. Though the breeze can turn into a stiff breeze.
One of the nice things that I have liked about Coalinga is its smallness. People know each other, for the most part are there to help one another and it is a religious community. Among the churches that I can think of off the top of my head are: Catholic, Mormon, Baptist, Episcopalian, Adventist, Jehovah Witnesses, Pentecostal, Assemblies of God...
Is Coalinga perfect? No, not really. But we don't have police helicopters circling over head all night long...we have gang activity, though mostly young kids.
People complain about the gangs and graffiti, the lack of police protection (they are not pro-active but rather re-active); our local hospital which most of us would rather avoid and go 45 miles to a better equipped hospital; of course our local politicians; the schools; the roads and of course the weather.
We are just like any other small/rural community, worse than some but better than a lot more.
This of course is one man's opinion. It is what I hear when at the local restaurants, at the store, or when I am driving a bus for a field trip with some teachers that I happen to know.
Mostly, I like Coalinga. I've always wanted to live in a small town. I don't mind traveling 45 minutes to an hour to go to a nice store, a large movie theater with a nice surround sound system, a large shopping mall, or someplace different to dine at.
Some people come to Coalinga and find it too rural. They want or need shopping malls. They want a larger school district with more money to spend on facilities, sports, music, the arts, and academia.
They feel isolated. And yes...we are isolated. We are 15 miles West of Interstate 5, half way between Los Angeles and Sacramento. We are 70 miles South West of Fresno, and 75 miles West of Visalia. We are surrounded by Pacific Coast Mountain Range on the West, Oil Fields and agriculture.
House wives and others are constantly having to dust. It is never ending. You dust the furniture, put things away, turn around and dust is already settling on the coffee table.
But those of us who stay here. Love it.
Till next time.
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