Riverside County Real Estate Information and Blog, Specializing in Southwest Riverside County

FHA Buyers - Write A Stronger Offer By Paying Your Own Closing Costs

Jane Grant - Southwest Real Estate - Riverside County, CA — Wed, 25 Nov 2009 20:27:03 -0600

FHA Buyers(Click to read about FHA Guidlines)

In order to Be Competitive and understand what is going on with Real Estate here in Southwest Riverside County, California, it is absolutely imperative that you understand the current Real Estate market.

You are competing with conventional, and cash buyers, so you need to go one step further with your own offer submittal to get them accepted.

I know you feel you are entitled to getting the seller to pay your closing costs but again, in order to stay competitive if you can pay your own closing costs even if you have get a "Gift", from a family member so that you can present a stronger offer, then do it. Click here for FHA Give Giving Guidelines. After all you may be eligible for the tax credit and better off if you do purchase a home. Read here about the extended tax credit. Then seek the advice of a tax professional for advice about your personal financial benefits of purchasing a home.

Call me, if you have questions about writing a stronger FHA offer that will actually get accepted! Prices are lower than they have been in years!!!

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Jane Grant ~ DRE: 01109492
Southwest Real Estate, Inc.
Telephone: 866 621-0155

Hot Air Balloon Landings - What's wrong with these pictures?

Jane Grant - Southwest Real Estate - Riverside County, CA — Wed, 25 Nov 2009 17:34:04 -0600

Temecula Crown Hill - I love Temecula, so many beautiful areas, the wineries, the Country Like settings just a few miles from the freeway. I've lived in Murrieta, Temecula Wine Country and now Crown Hill again.

One of the delights of living so close to the Wine Country is that we have a hot air balloon sighting almost every day. But....its not everyday that we have one land in front of our house!!!

Take a look at these pictures I took in Crown Hill. Two Hot Air Balloon Landings in the last two weeks!

All the neighbors came out and took pictures....I wasn't the only one!!!

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Jane Grant ~ DRE: 01109492
Southwest Real Estate, Inc.
Telephone: 866 621-0155

Website: www.soreal.biz
Additional Website: www.servingtemecula.com

Blog: www.janegrant.biz
Blog: www.janegrant.wordpress.com
Blog: http://activerain.com/blogs/janegrant

Trulia Profile: http://www.trulia.com/profile/id/331413

Temecula Schools | School Boundry Search Key

Jane Grant - Southwest Real Estate - Riverside County, CA — Tue, 24 Nov 2009 12:05:57 -0600

Want to find out what School your Child will attend in Temecula?

I've written posts before about the popularity of Temecula Schools. They have excellent State and Nationwide rankings and you can read more about Temecula School Rankings, in this post I wrote awhile back.

In today's post I would like to share a new link that I found that allows anyone to determine which Temecula School your child will attend.

All you have to do is to type in the address of the home you are living in, or plan to live in. Here is the link to the Temecula Valley Unified School District School Site Locater. Click on the next link to go to the main page of the Temecula Valley Unified School District.

Go to my website at www.soreal.biz to find the most popular areas in Southwest Riverside County.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Jane Grant ~ DRE: 01109492
Southwest Real Estate, Inc.

Telephone: 866 621-0155

Temecula Custom Homes

Jane Grant - Southwest Real Estate - Riverside County, CA — Tue, 24 Nov 2009 10:52:17 -0600

There are so many great things about the Temecula Wine Country, such as the rolling hills, wineries and the horses that can be seen from the De Portola Road entrance, (on both sides of the Road).

Then there is Crown Hill in Temecula - The last master planned community just before entering the Temecula Wine Country.

But the Temecula Custom Built Homes, that sit on a minimum of 2.5 acre parcels, make living in the Temecula Wine Country a special treat for anyone wanting country living that is still only minutes from the I-15 freeway and 60 minutes from the beach in Oceanside. There are other communities I have written about that have Custom Homes in Southwest Riverside County such as my "Murrieta Custom Homes" post.

If you come for a visit to go wine tasting or for a balloon ride, you won't want to leave!!!

Go to my website at www.soreal.biz to see the most popular areas of Southwest Riverside County.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Jane Grant ~ DRE: 01109492
Southwest Real Estate, Inc.
Telephone: 866 621-0155

Cash Buyer Blues | Competition Is High | Southwest Riverside County Real Estate Update

Jane Grant - Southwest Real Estate - Riverside County, CA — Mon, 23 Nov 2009 23:32:24 -0600

The information in this post is based on Residential Real Estate and home buying in Riverside County, California, and in particular, Southwest Riverside County Real Estate. (November, 2009)

In some areas and in certain real estate markets, "Cash", buyers of real estate, could purchase property for far less than the "listed", amount.

Traditionally, this happens when there are not very many cash buyers compared to buyers placing offers on homes who need financing.

Currently, Riverside County and particularly "Southwest Riverside County", has so many "Cash" buyers that these "Cash", buyers are finding that they are in high competition with each other.

One home in Temecula that I recently submitted an offer on, for one of my clients, received 15 cash offers. There were a total of 47 offers all together on this one particular Temecula pool home.

This current state of affairs is not likely to change anytime soon. Some rumors about a huge inventory of homes being released all at once from the banks, has not materialized and most likely will not happen.

Click on the following link to read my wordpress blog about "Bank Owned Home Inventory".

Following, are some tips for cash buyers to actually get their offer accepted over the other competing cash offers.

(Click on this next link for more information about "Real Estate Investing In Temecula").

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Tips for purchasing residential property with "Cash".

· First and foremost, realize that you are competing with other cash buyers.

· Your offer price should be in line with "Recent Sold Comparables". (Don't think that you can offer $50,000 below the recent sold comparables just because you are offering cash).

· Don't ask the seller/bank to pay for any of the trivial fees, such as, home warranty, HOA transfer fees, or County Transfer Tax fees.

Riverside County is unique, in that there are so many newer homes that one can purchase in the $200,000 to $250,000 price range, unlike San Diego County, Orange County and Los Angeles County. In these surrounding areas, homes in the $250,000 and below price range need a lot of work and much more expense to get them ready to rent out or live in.

Many cash buyers are still seeking to purchase way below "Market Value". I get a lot of calls from buyers who want to purchase investment homes directly from banks or from auctions. There is major competition in this arena as well. One client told me that they get "out bid, at the auctions every time they have tried this.

There are still very good opportunities here in Riverside County, California; however, buyers have to be realistic about their offers, if they are serious about buying.

The good news is that these homes will appreciate and increase in value when the market recovers! History will repeat itself!!!

Go to my website at www.soreal.biz to see the most popular areas of Southwest Riverside County.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Home Sales On The Rise - Highest Increase in 2.5 Years!

Jane Grant - Southwest Real Estate - Riverside County, CA — Mon, 23 Nov 2009 16:48:43 -0600

This is nothing new here in Riverside County as far as bidding wars and Riverside County home sales increasings, but when National averages are up then it's time to pay attention.

All of you home buyers who are waiting for the prices to go down and also those of you who are waiting for the huge inventory of homes to hit the streets and rock prices lower than they are right now may be waiting too long......Read the whole story here:

MSNBC Article About Home Sales

I remember when this happened last time around. I had a good friend who told me she and her boyfriend were planning on waiting until prices went down further. I told her that because sales were rising that prices would be rising also. They went up more quickly than my friend planned and they priced themselves out of the market.

According to a contact I have at Wells Fargo Corporate, there will be no huge inventory of homes released all at once bringing prices down. The simple reason for this is that there is a moratorium on certain negative amortization loans and other types of loans that prohibit banks from foreclosing on borrowers who took out these loans. Some of the moratoriums won't be lifted until 2011.

If you are in a position to buy, then buy as soon as possible before prices go up any further along with the rise in home sales!

Go to my website at www.soreal.biz to see the most popular areas of Southwest Riverside County.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Thank A Veteran Today!

Jane Grant - Southwest Real Estate - Riverside County, CA — Wed, 11 Nov 2009 10:07:26 -0600

Thanks to all Veterans, who serve in our Military, Past Present and Future!

Where would we be without them? It's a tough job and someitme not very rewarding. I thought I would include this link regarding the "History of Veterans Day".

And special thanks to my current and past Veteran clients of 2009!

Michael Logue

Kevin Jones

The Inocencio Family

The Vinluan Family,

"Ollie" and Taryn

I am truly grateful!!!

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

We Can All Be Someone's Angel

Jane Grant - Southwest Real Estate - Riverside County, CA — Sun, 01 Nov 2009 14:41:17 -0600

With Halloween out of the way, Thanksgiving and Christmas are right around the corner. Many people are experiencing difficult times with job loss and foreclosures still on the rise. Sometimes, I think that Real Estate Professionals see more hardship than other professions, especially here in Riverside County, and other areas that have a large amount of foreclosures.

I was inspired by this piece and wanted to pass it on. I will definitely be trying to be on the lookout for someone that needs me to be their angel:

*********

This was written by a Metro Denver Hospice Physician:
I was driving home from a meeting this evening about 5, stuck in traffic on Colorado Blvd., and the car started to choke and splutter and die - I barely managed to coast into a gas station, glad only that I would not be blocking traffic and would have a somewhat warm spot to wait for the tow truck. It wouldn't even turn over.. Before I could make the call, I saw a woman walking out of the quickie mart building, and it looked like she slipped on some ice and fell into a gas pump, so I got out to see if she was okay
When I got there, it looked more like she had been overcome by sobs than that she had fallen; she was a young woman who looked really haggard with dark circles under her eyes. She dropped something as I helped her up, and I picked it up to give it to her.. It was a nickel.

At that moment, everything came into focus for me: the crying woman, the ancient Suburban crammed full of stuff with 3 kids in the back (1 in a car seat) , and the gas pump reading $4.95.

I asked her if she was okay and if she needed help, and she just kept saying 'I don't want my kids to see me crying! ,' so we stood on the other side of the pump from her car. She said she was driving to California and that things were very hard for her right now. So I asked, 'And you were praying?' That made her back aw ay from me a little, but I assured her I was not a crazy person and said, 'He heard you, and He sent me.'

I took out my card and swiped it through the card reader on the pump so she could fill up her car completely, and while it was fueling, walked to the next door McDonald's and bought 2 big bags of food, some gift certificates for more, and a big cup of coffee. She gave the food to the kids in the car, who attacked it like wolves, and we stood by the pump eating fries and talking a little.

She told me her name, and that she lived in Kansas City Her boyfriend left 2 months ago and she had not been able to make ends meet. She knew she wouldn't have money to pay rent Jan. 1, and finally, in desperation, had called her parents, with whom she had not spok en in about 5 years. They lived in California and said she could come live with them and try to get on her feet there.

So she packed up everything she owned in the car. She told the kids they were going to California for Christmas, but not that they were going to live there.
I gave her my gloves, a little hug and said a quick prayer with her for safety on the road. As I was walking over to my car, sh e said, 'So, are you like an angel or something?'

This definitely made me cry. I said, 'Sweetie, at this time of year angels are really busy, so sometimes God uses regular people.'

It was so incredible to be a part of someone else's mira cle. And of course, you guessed it, when I got in my car it started right away and got me home with no problem. I'll put it in the shop tomorrow to check, but I suspect the mechanic won't find anything wrong.

Sometimes the angels fly close enough to you that you can hear the flutter of their wings...

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

"I'm mad as hell and I'm not going to take this anymore!"

Jane Grant - Southwest Real Estate - Riverside County, CA — Tue, 27 Oct 2009 11:30:48 -0500

This is important information that should not be ignored. I am sure we will hear more about this in the future: Thanks Greg: Please post comments directly to Greg Cook:

Via Greg Cook (First Time Home Buyer Network):

In the movie classic Network, Howard Beal, played by Peter Finch in one of the iconic moments in movie history gives us the classic line: "I'm mad as hell and I'm not going to take this anymore!"

I'm wondering when we as Realtors and our clients as consumers are "not going to take this anymore!"

Those of you who believe that the banks/lenders who control the REO properties are going to negotiate fairly and protect your client's interest, can probably stop reading here.

If you think, your job is to protect your client's best interest and negotiate the best possible terms for them, might want to read on.

If you haven't heard about it yet, you will. Chase Bank in a memo to its Asset Managers, announced the Chase Finance Initiative. In an attempt to capture more of the loans that are being done on their REO properties, Chase is encouraging their asset managers to promote Chase financing.

Problem is, they are in violation of RESPA and FTC guidelines and more importantly putting your clients at a serious disadvantage in the negotiation process.

I'm going to quote directly from RESPA Section 9 and FTC Guidelines for Antitrust Laws, so bear with me if it's a little dry. I'm also going to quote directly from the Chase memo that outlines their Chase Finance Initiative.

RESPA Section 9 - "Section 9 prohibits home sellers from requiring home buyers to purchase their settlement services from a particular company either directly or indirectly, as a condition of sale. Buyers may sue a seller who violates this provision for an amount equal to three times for all charges made for the title insurance." "Settlement service means any serive provided in connection with a prospective or actual settlement including but not limited to any one of the following: Origination of a federally related mortgage loan...Rendering of services by a mortgage broker..."

FTC Guide to the Antitrust Laws - "For competitive purposes, a monopolist may use forced buying, or "tie-in" sales to gain sales in other markets where it is not dominant and to make it more difficult for rivals in those markets to obtain sales. This may limit consumer choices for buyers wanting to purchase one ("tying") product by forcing them to also buy a second ("tied") product as well. Typically, the "tied product may be a less desirable one that the buyer might not purchase unless required to do so, or may prefer to get them from a different seller. If the seller offering the tied products has sufficient market power in the "tying" product, these arrangements can violate the antitrust laws."

Refusal to Deal - Sometimes the refusal to deal is with customers or supplier, with the effect of preventing them from dealing with a rival: "I refuse to deal with you if you deal with my competitor".

Chase's plan? "3. Sell the fact that buyers are more likely to receive seller assistance with closing costs by using Chase financing" "8. In multiple offer situations, advise the agent that the seller will generally put more weight" on an offer with Chase financing than any other offer."

As a Realtor, you're really going to like this section from the Chase Finance initiative: "With Chase as our primary client, (asset manager name withheld) must work with Realtors who understand the importance of Chase financing on Chase owned properties and we will begin to limit our relationships to those who can adhere to these guidelines."

I'm sure there are more examples but here are three brief ones, that amplify the disadvantage your clients would have when negotiating with Chase:

1) The lender selected by your client has a more favorable interest rate than Chase, but in order to get their offer accepted, they will have to take the higher rate by using Chase.

2) Your client asks for closing costs to be paid by Chase, but in reviewing your client's financials determines your client has the ability to pay them, and Chase counters accordingly.

3) Your client makes an offer on a Chase home that is priced below the maximum amount for which they qualify. Even though your buyers are making a prudent financial decision, Chase can counter to a higher amount solely because they know your buyer can qualify for the higher price. Think your buyers might accept the higher price if they've already written 20 offers?

This probably isn't something that can be won in a court of law, but perhaps it can be won in "the court of public opinion".

Pass the word, reblog, protest, make t-shirts, just do something. As other banks follow this lead it will be more difficult for us to best represent your client's interest.

As Howard Beal said: "I want you to get up right now! and go to the window, open it, stick your head out and yell I'M MAD AS HELL AND I'M NOT GOING TO TAKE THIS ANYMORE!
Greg Cook

First Time Home Buyer Specialist

First Time Home Buyer Network

951-265-4532

greg@homebuyerhelpnetwork.com

http://firsttimehome.us

HVCC Petition - If you haven't signed this here's your chance!

Jane Grant - Southwest Real Estate - Riverside County, CA — Mon, 26 Oct 2009 16:14:48 -0500

If you missed this, regarding the Home Valuation Code of Conduct, HVCC, here's all the news about it from the beginning. Read this and you will see why Realtors should care about HVCC:

Here's the link to the petition. hvccpetition.com Even if your only concern is costly appraisals or lessening the wait time for appraisals you should sign it, but there is so much more to know about this bill that is on it's way to being phased out. The National Association of Realtors has done a great job for us in getting this bill (HR 3126) ammended and improved so that licensed loan originators can choose their appraisers directly.

Here's why you should care:

According to the NAR, the HVCC increases the costs for appraisals and limits the buyer's choice and ability in obtaining an accurate appraisal. They further state that the HVCC puts home buyers at an increased risk by mandating the use of unregulated Appraisal Management Companies (AMCs) for appraisals. The HVCC will also increase the time that it takes for buyers to get loans. This will lead to higher rates and costs for borrowers. If a home owner finds a better interest rate or needs to change mortgage companies, he or she will be responsible for purchasing a new HVCC compliant appraisal.

The House Financial Services Committee has just passed an amendment to the Consumer Financial Protection Agency Act to phase it out, and allow all loan originators, licensed or registered in accordance with the SAFE Mortgage Licensing Act, to order appraisals directly. H.R. 3126 is the number of this bill. Although this is just a committee vote, and still has a long way to go, it is a "first step" the Consumer Financial Protection Agency Act is expected to be merged with a number of other regulatory reform bills before moving to the House floor for a vote, and any differences must be ironed out within the House and then with any Senate versions before going to the President.

We have HVCC on the ropes so we need your help more than ever!

On Wednesday, October 21st, the National Association of Mortgage Brokers used this petition hvccpetition.comto help convince the House Financial Services Committee to pass an amendment that will finally put an end the mess that HVCC has been making of the real estate and lending industries. More than the 102,000 signatures on the petition, it was the pace at which the petition is growing and the HVCC horror stories signers included with their electronic signatures. Now more than ever we need everyone to rally behind this cause to make absolutely certain it continues to gain the momentum necessary to make it through the House and Senate votes that are forthcoming. Please, please, Please, sign this petition if you haven't done so already and more importantly, send it to everyone you knowin any sector of the real estate and lending industry as well as to all the current, past and future clients in your database. The new petition website makes it abundantly clear how all homeowners are losing equity and being harmed directly by HVCC as well as how it is blocking any chance at the real estate recovery our economy needs so desperately. Everyone you send to hvccpetition.com will be indebted to you for looking out for their best interest. We won the first of three battles which is more than anybody thought could happen and if we get serious and rally together now for one last massive push we should be able to put HVCC behind us forever. Thank you for your time, effort and support.

Click here to see our interview with the president of NAMB thinkbigworksmall.com/mypage/player/tbws/19036/-4592

hvccpetition.com

Frank Garay and Brian Stevens
Co-Hosts of the TBWSDaily.com real estate news program tbwsdaily.com
"Concerned advocates for a better real estate industry"

How HVCC Affects the Appraisal Process

REALTORS® and mortgage brokers are prohibited from selecting appraisers. Lenders are may use "in house" staff appraisers to conduct appraisals. However, the loan production staff is prohibited from:

selecting, retaining, recommending, or influencing the selection of an appraiser; and,
conducting any substantive conversation with an appraiser or appraisal management company regarding the appraisal assignment.

For the consumer, the appraisal process has remained largely intact. However, consumers may find the process takes longer than and may be more costly than it has been in the past.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Redfin - Posting Old Outdated Pictures and Information as Current Day!

Jane Grant - Southwest Real Estate - Riverside County, CA — Sat, 24 Oct 2009 17:41:54 -0500

A client called me and told me about a home he wanted to write an offer on. He found the home on the Redfin website. Problem was, I could not find the listing anywhere except Redfin....Redfin is showing this home as a listing that was posted only two days ago. No listing agent to present the offer to either.

Riverside County Tax Records showed it as being in "pre-foreclosure" status. The "source", of the Redfin data said it was pulled from SANDICOR, which is the MLS for San Diego County. That's funny, I thought unless some out of area agent posted it in their MLS system only. This was a dilemma so I decided to go to the home in person and check it out.

Here's what I found: A deteriorating home nothing like the pictures posted on Redfin:

Here are the current day pictures taken today 10/24/09, next to the Redfin photos that are from at least 10 years ago.

Here's the backyard: Present day and Redfin's posting.

Same Patio but now it has rusted nails and is coming apart.

***

Next, is a picture of the inside all furnished and pristine along with my photo that I had to take through the window because the home is vacant and abandoned.

Here are some more of the current day pictures:

This is the back fence that has been broken into!

Notice the mold and graffitibelow and mold going up the chimney.

Here's the proof, looking out the front door the tree is huge now and was much smaller in the Redfin photos.

I am so tired of false information causing me to have to investigate these kinds of old

and outdated properties with ancient information.

I will continue to post about this and educate my clients not to depend on Redfin, Trulia, Realty Trac, Zillow or their agents for accurate information!

Only the MLS has "Pure MLS" information.

All of these free Internet sites have recorded information such as, quit claim deeds, Trustee's deeds, Mechanics liens, Tax Liens mixed in with listings. To make matters worse they have a trigger response that pulls pictures from our MLS even from closed listings that have long been sold, and makes it look like a current listing.

This should be a violation of providing false facts.

*****

If I, as a Realtor...

posted old pictures like this and did not disclose the present condition of the property....

I would be held responsible by the DRE for providing false information. There have been lawsuits against Realtors for posting false pictures...Why does Redfin get away with it?

***

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Loan Modifications - New California Bill Stops the Abuse of Homeowners In Trouble

Jane Grant - Southwest Real Estate - Riverside County, CA — Thu, 15 Oct 2009 11:04:45 -0500

Schwarzenegger Signed SB 94 on October 12, 2009. This new version of the bill will do much to protect consumers from loan modification companies who are taking advantage of hopeful consumers in trouble.

We should all begin to see a lot less advertisements from dishonest loan modification companies now that they cannot charge their ridiculous upfront fees.

The Department of Real Estate has received massive complaints from consumers being asked to pay upfront fees as much as $4,000 for companies to negotiate a loan modification for their delinquent loans.

Senate Bill 94 goes into effect immediately and does not expire until January 1, 2013

Here are the fine points of the bill:

•· Any firm, be it lender or lawyer, yes, I said lawyer, must tell potential clients that they can get the same services for free from government-approved nonprofit mortgage counselors. I'm sure this will be in the form of a disclosure.

•· No payment can be received until the loan modification company including lawyers has performed all services promised in a contract with the borrower.

•· Borrowers are still obligated to pay the loan modification firm for services provided, even if the firm can't get the loan modified.

•· No more negative amortization loans

•· Limits the amount of pre-payment penalties a lender can charge

Why attorneys don't like the new version of SB94: I just read an interesting article that went on and on about how homeowner's will not be able to secure legal advice now due to the fact that loan modification attorney ask for retainers whenever they assist a consumer with a legal matter. The author went on and on about how this is hurting consumers.

Actually, they are worried about it hurting their practices of collecting retainers in advance of doing anything, which has always bothered me. Let the attorneys collect their fees after they do their work for a change.

Here's one quote from a blog circulating around the internet....author unknown:

(SB 94 prevents loan modification companies, brokers, individuals... and even lawyers... from receiving fees or any other form of compensation until after the contracted services have been rendered. What loan modification company in their right mind would go through 120 days of work negotiating a loan modification with their client's lender only to have the client say, sorry we don't have the money to pay you for your services.)

Look at this petition began by an attorney.

Personally, I think it's about time that lawyers were held accountable for their work. Lawyers are the only professionals who are allowed to collect very large advance fees before they do anything.

*******

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Cash Investors In Riverside County - By And Hold Strategy Will Give You The Biggest Return On Real Estate

Jane Grant - Southwest Real Estate - Riverside County, CA — Thu, 15 Oct 2009 03:45:07 -0500

First time Real Estate Investors are plentiful right now, but they want large and immediate returns that are unrealistic. Yesterday, I got an investor from Trulia who wanted a 15% return, immediately. Not possible, I told her. And I gave her the reasons why she could not get an immediate return like she wanted.

There are no homes that a buyer can flip and make an immediate 15% return, here is Southwest Riverside County. Unless, you buy them at a court auction.

In order to make at least $20,000, you would have to purchase a home at $200,000 and turn right around and sell it for $260,000 minimum. This is taking into consideration all expenses, commission, escrow fees.

It's just not possible to flip properties in our current market, here in Southwest Riverside County. Prices are not going up in a matter of weeks. The buy and hold strategy is the only strategy that makes sense.

Investors who use the "Buy and Hold Strategy", are the only ones buying right now.

"Don't wait to buy Real Estate, Buy Real Estate and wait, I told her.

Investors who can wait it out will benefit a great deal by buying now and waiting to sell when the market improves. Problem is most don't want to wait. There are so many great Real Estate books out that explain this theory: Here's a great book by David Schumacher.

Here's a model I gave one investor for a quick $20,000 gain. He thought it was fair but still wanted me to guarantee him this return on a property before he purchased:

Model for a quick $20,000 return:

Purchase Price $175,000

Includes all fees, escrow, transfer tax, notary – paid for by Investor* - these fees are minimal to you when using cash.

*(Title policy and commissions are paid for in initial purchase by the bank, for bank owned properties).

Costs you will incur to sell property

5% of original price you paid for improvements – $8,750.00

1.5% of sales price to new buyer for Title and Escrow Fees- $ 3,375.00 (Based on Purchase Price of $225,000)

3.5% Commissions- $7,875 (Based on Purchase Price of $225,000)

4% of Closing costs paid for FHA or VA Buyer – (Based on Purchase price of $225,000) $9000.00

Subtotal…….. $204,000

$225,000 (Sales price when you market and sell the home the home)

-$204,000- less all costs

$21,000 - profit to you

New List Price to new FHA buyer $230,000 - Let new buyer offer as little as $225,000 because everyone likes to feel they are getting a deal!

Sales price can be as low as $224,000 for you to make at least $20,000

Quick Calculation: Multiply your original purchase price by 130 percent to get the new approximate listing price required to make at least $20,000.

Since you've read this far,

Here's a great rental tool:

www.rentometer.com

This tool will tell what the most up to date rental rates are going for in the area

you are purchasing in.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Temecula's Wilson Creek Winery - Much Ado About Something

Jane Grant - Southwest Real Estate - Riverside County, CA — Thu, 15 Oct 2009 02:32:56 -0500

Temecula has so many wonderful and picturesque spots along Rancho California Road . The wineries are lovely, the grapevines are plentiful and if you are wanting to know the best ones then stay tuned as I have plenty to tell and write about.

Wilson Creek winery is well known for it's "Almond Champaigne", but if that wasn't enough, it also has many other attributes. Like the Creekside Grill that's celebrating it's 1 year anniversary this month. Plus, there are exciting, upcoming holiday events. Here's a handful but to view all, visit their site.

Thanksgiving @ the Creekside Grille

Make your reservations today!

$50 per person ~ $45 Wine Club Adult
$24.95 per child 6-12; $22.46 Wine Club Child
FREE children under 6

Make your ONLINE reservations today or make reservations by telephone: ...951-699-WINE (9463

Then there is the New Year's Eve Extravaganza:

New Year's Eve Mardi Gras Masquerade

TICKETS ON SALE NOW! They will sell out early which is why I am posting this now in October!!!

CELEBRATE NEW YEARS AT WILSON CREEK WINERY THIS YEAR!

Tickets are $144 Wine Club; $160 General Public, plus tax
MAKE YOUR RESERVATIONS ONLINE TODAY OR CALL THE WINERY AT 951-699-(WINE) 9463

Want More???

They do fabulous weddings and parties too!

Want Even More???

Meet the Chef:

Clay Blake...After graduating from Cincinnati's

Culinary Arts Academy, Executive Chef Clay Blake has

had special instruction as a French Chef and was

trained under the under the classically-trained French chef

Jean-Robert de Cavelle.

And this is only the beginning, of his accomplishments to read

his entire extensive accomplishments read here.

I love living and working in Temecula, there's no other place in Southwest Riverside County that has such lovely and picturesque scenery only minutes from shopping and the freeway!

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Temecula Corn Maze - 2009 - IT's BACK! - Half Off Discount for Military Families

Jane Grant - Southwest Real Estate - Riverside County, CA — Wed, 14 Oct 2009 12:29:04 -0500

The Corn Maze is back!!!

They didn't have it last year but this year, it's BACK!!!

Big Horse Feed has opened their corn maze again and it looks bigger than it has in the past.

In case you don't know what a corn maze is....here's a picture. It's a huge Maze of corn that you can get lost in.

But don't worry, there are school age, (teen), volunteers around the corners to help the little ones if they get lost!

The Maize owned and operated by Big Horse Feed and Corona Ranch and Land Company and is a main attraction here in Temecula.

Click here to get a coupon! (for $1,00 off) Maze only prices are $9.00 this year

Every weekend Active Military get 1/2 off with Military I.D.

A great way for school kids to get community service hours fulfilled, too!

They have a great pumpkin patch and lots of activities for families!!!

$13.00 for Maze and 3 activities.

Contact me for the latest information regarding Temecula Real Estate, Temecula Custom Homes, or Real Estate anywhere in Southwest Riverside County.

Quote of the week

Jane Grant - Southwest Real Estate - Riverside County, CA — Mon, 12 Oct 2009 11:41:33 -0500

"I'm a great believer in luck and I find the harder I work, the more I have of it". - Thomas Jefferson

Hmmmmm.........I guess I need to keep telling my teenagers, how lucky they are whenever they are working!!! Reverse psychology, maybe? I'll try anything!!!

Call me for information about Real Estate in Southwest Riverside County.

Redfin On The IPhone - Uncensored

Jane Grant - Southwest Real Estate - Riverside County, CA — Thu, 08 Oct 2009 22:21:18 -0500

Redfin just came out with the IPhone application showing all kinds of information. The problem is that it is showing all of the recorded documents, (liens, Notices of Default, Quit Claim Deeds), that have recently been recorded at the individual County Recorder's offices across our nation, as "Sales and or Sold properties".

My clients were riding around with me checking sold properties as well as active, just to see if the asking prices were in line with the current asking prices. Checking recent sold comparables is always a useful thing to do, right???

Here's an example of the problem that some internet sites are creating: This property located at 29045 Via Norte is showing as a sold property that sold for $27,272 dollars on August 20, 2009.

By investigating this recording, I was able to find out that this amount showing as sold was actually quit claim deed between two family members. It was not a recorded sale of a property between a buyer and a seller and cannot be used as a comparable as comparable properties that are actual sales are going for much more. Approximately $275,000 more!

*****

Redfin, Zillow, Trulia, and all of the other Real Estate sites that consumers use to search for properties are the same as far as where they get their data. They all get it from the County Recorder's office and label it all together as a property that is either sold or for sale.

Consumers need to be aware that when all of the information is mixed together it cannot be relied upon as "Pure MLS".

The same is true when searching for active listings. They are all mixed together and cannot be separated out from properties that have been sold between a buyer and a seller.

Other recordings that are picked up as for sale or sold properties are:

Notices of Default
Mechanics liens
Tax liens
Refinances
Home Equity Lines of Credit

There is still no Real Estate Search capability as accurate as Multiple Listing Services that are used by professionals who pay for and are registered to use the MLS.

************

Want more proof?

Here it is! While researching today I found this exchange between a consumer and one of the Redfin Czar's.

Here's another:

This is the answer from the Redfin CZar, actually admitting there are issues with the search capabliities: He mentions in his explanation that they get information, "from a third party and that they do not distinguish from actual sales and other types of transactions. (Like I mentioned in the billeted items above).

Again, there is still no Real Estate Search capability as accurate as Multiple Listing Services that are used by professionals who pay for and are registered to use the MLS.

Use Redfin, Trulia, Zillow or a site similar to these if you want to play and experiment with real estate information but call a Realtor who belongs to a "Multiple Listing Service",if you would like complete and accurate Real Estate Information for the area you are serious about making a purchase in!

Please call me for information about Real Estate in Southwest Riverside County.

The Current Market: Foreclosure/Short Sale Reality

Jane Grant - Southwest Real Estate - Riverside County, CA — Thu, 08 Oct 2009 09:12:25 -0500

This is so great, I would like to pass on some humor to my clients who have struggled in this area!!! Thank you, Steve Kappre for posting this great video!!!

Via Steve Kappre, Gloucester County, NJ Loan Officer/Mortgage Planner - 856.419.3561 (Treasury Mortgage):

Thanks goes to Texas Realtor Ashley Myers for making me aware of this great video. Since I'm a lender I only deal with a small portion of what you are about to see. If you are a buyer looking to invest in a short sale property or foreclosure, you'll get a good laugh from this while sadly being educated in how things tend to pan out with some of these transactions.

Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in;

• All areas concerning NJ First-Time Home Buyer Mortgages, grants, down payment assistance, tax credits, and more.

• Reverse Mortgages

• Equity Management strategies for high-end homes and high net worth individuals.

Contact Steve Kappre directly at 856-419-3561 or at www.stevekappre.com

Cutest Breast Cancer Promotion - Ever!

Jane Grant - Southwest Real Estate - Riverside County, CA — Tue, 06 Oct 2009 17:48:06 -0500

Isn't this the cutest picture ever!

This post is in honor of my best friend who died of breast cancer. My friend Kathy Luza, and I were childhood friends, we did everything together, throughout all of the teenage years, learned to drive, graduated high school and later she was the maid of honor at my wedding....

and I miss her very much.

I really do hope that we find a cure for Breast Cancer before this little one grows up!!!

Click here for Temecula's Susan G. Koman - Race For The Cure Registration Information

Please call me for information about Real Estate in Southwest Riverside County.

Trulia Profile: http://www.trulia.com/profile/id/331413

We Spend So Much Time With Our Clients, We Miss Them When The House Hunt Is Over!

Jane Grant - Southwest Real Estate - Riverside County, CA — Fri, 02 Oct 2009 10:24:20 -0500

I'm sure a lot of Real Estate Agents feel like this:

When working with a family to purchase their first home I put myself in their place to determine the best home for them. I try on the home as far as payment, location, schools, traffic and all of the other things involved in the decision of purchasing a home.

As a result, I get attached to them and actually miss them when the search is over!

The family below is very special to me and I want to thank them for being such great clients!

I also want to thank Zio, for the great pictures that he drew for me that now are in my office!

Special thanks to the children for being so patient, well behaved and joyful to be around!

One Terrific Family!!!

Trulia Profile: http://www.trulia.com/profile/id/331413

Menifee Homes

Jane Grant - Southwest Real Estate - Riverside County, CA — Thu, 01 Oct 2009 18:05:29 -0500

GREAT PRICE ON LARGE SOUTHWEST RIVERSIDE COUNTY HOME

This Menifee Home is in a very desirable area of Menifee. Close to the 215 and close to shopping!

$299,000 - Standard Sale - Seller will pay closing costs!!!!!

10,000 sq. ft. POOL

SIZED LOT

5 bedrooms,

4 bathrooms 3 car garage

The home is 3,300

sq. ft.

The City of Menifee is located just north of Murrieta.

The school district has high ratings with the great schools website, as does Murrieta, and you can check out the schools here.

Please call me for information on Menifee Homes and homes in Southwest Riverside County.

Trulia Profile: http://www.trulia.com/profile/id/331413

Murrieta Homes

Jane Grant - Southwest Real Estate - Riverside County, CA — Wed, 23 Sep 2009 21:12:50 -0500

If you are looking for Murrieta Homes or Temecula Homes

You've come to the right place!

I have the latest information and trends to get you the home you have been waiting to purchase. I know this market is tough but I have been in and out of these tough markets several times and I have the experience to get you a home in this market as well.

Contact me for homes in the Murrieta and Temecula Valley. Toll Free: 866-621-0155

The Great Schools website has Temecula and Murrieta Schools ranked at 7 and 8 respectively!

I proudly sell Real Estate and sell Murrieta Homes, Temecula Homes, and Homes in Southwest Riverside County!

Trulia Profile: http://www.trulia.com/profile/id/331413

V A Home Buyers - Why The Banks Don't Like Your Offers On Their Bank Owned Homes

Jane Grant - Southwest Real Estate - Riverside County, CA — Tue, 22 Sep 2009 10:44:05 -0500

Since March of this year, I have had to tell many VA Buyers that there is very little chance for them to get their offer accepted on a Bank Owned property. Riverside, County California has Bank Owned homes that are at affordable prices. We are almost in the last quarter of 2009, and inventory is low, making competition for these affordably priced, bank owned homes, fierce.

I've had that confused look of disbelief when I explain that banks are not in favor of VA offers, and I've learned to brace myself for it so that I can quickly offer offer proof and yes, a solution.

I've had calls from many Military personnel asking why their offers to purchase property are not being accepted. Some have submitted as many as 70 offers on bank owned properties only to get them all rejected. The truth is that the banks don't want to pay the extra fees and wait the extra time that it takes to process a VA Loan.

The good news is that there are ways around this dilemma. Once a property is secured and purchased by our military servers, whom I highly respect, they won't have to pay for their down payment and can get most of their closing costs paid.

Here's the link to find out more about the VA Loan program that is offered to our military personnel.

http://www.military.com/Finance/HomeBuying/

For more specific information regarding how to get your VA offer accepted contact me for a consultation.

Call me for more information regarding Real Estate, in Southwest Riverside County:

Trulia Profile: http://www.trulia.com/profile/id/331413

Home Buyer Tax Credit Extention Update

Jane Grant - Southwest Real Estate - Riverside County, CA — Mon, 21 Sep 2009 18:32:37 -0500

Here's what I got from the Southwest Riverside County Association of Realtors, today and below is a response that I received from Senator Diane Feinstein, when I clicked on the button and did my part to try to get this Tax Credit extended.

Realtors are one of the largest lobyist groups and together we will impact how our legislatures will react to this new version of the Home buyer Tax Credit.

Congress will soon debate if the home buyer tax credit should be extended beyond the currently scheduled expiration date of November 30th.

Conservative estimates of the number of first time homebuyers that took advantage of this program start at 350,000 and go up from there. Needless to say it was a lot of people and the impact on the market was substantial - to the point where the housing market is driving the economy back toward a sustainable recovery.

It is estimated that the tax credit extension will cost the government another $10 Billion if it's extended for a full year. Compared to the $700 billion in TARP funds that went to Wall Street and the $787 billion economic stimulus bill passed earlier this year, $10 Billion seems pretty reasonable - especially when you consider that money went DIRECTLY TO CONSUMERS instead of to banks, insurance companies and other corporate entities.

Further, assuming the credit is extended, according to NAR Chief Economist Lawrence Yun, the resulting economic growth and job creation will automatically lead to a rise in federal tax revenue easily covering the cost of the credit.

This is where YOU, the Grassroots of our Association, are most powerful. If you haven't received or responded to the earlier NAR Call-to-Action, please click the button. It will take less than 2 minutes of your time and if it lands you just one more first-time buyer during the next year, it will be the most profitable 2 minutes you've ever spent. Please click now.

Dear Ms. Grant:

Thank you for contacting me to express your support for expanding the first-time homebuyer tax credit. I appreciate the time you took to write and welcome the opportunity to respond.

In July 2008, the Housing and Economic Recovery Act of 2008 (Public Law 110-289) provided first-time homebuyers with a tax credit, equivalent to an interest-free loan, worth up to $7,500. The tax credit applied to homes purchased between April 9, 2009 and July 1, 2009. As the housing situation worsened in the fall of 2008, additional action was taken to prevent further declines in home values. Congress included in the American Recovery and Reinvestment Act of 2009 (Public Law 111-5), a more robust first-time homebuyer tax credit. Specifically, the tax credit was increased to $8,000 for homes purchased in 2009 and will not have to be repaid.

I understand your belief that the first-time homebuyer tax credit should be increased and expanded further. As you know, on June 10, 2009, Senator Johnny Isakson (R-GA) introduced the "Home Buyer Tax Credit Act of 2009" (S. 1230), which would increase the credit to up to $15,000, remove income eligibility limits, and expand it to include homebuyers purchasing homes other than their first. S. 1230 has been referred to the Senate Finance Committee, of which I am not a member. Please know that I will keep your support for this legislation in mind should it come before the full Senate.

Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at (202) 224-3841. Best regards.

Sincerely yours,

Dianne Feinstein
United States Senator

Further information about my position on issues of concern to California and the Nation are available at my website http://feinstein.senate.gov/public/. You can also receive electronic e-mail updates by subscribing to my e-mail list at http://feinstein.senate.gov/public/index.cfm?FuseAction=ENewsletterSignup.Signup.

Murrieta Homes - Riverside County Homes - Escrow Fall Outs - Need Buyers

Jane Grant - Southwest Real Estate - Riverside County, CA — Sun, 20 Sep 2009 21:17:26 -0500

This home just became available - 9/20/2009 - VA Approved Appraisal Completed - $320,000 - Can qualify for VA with No Closing Costs and No Down Payment!

5 Bedroom - 3 Bath - 3 Car Garage

Brand new Flooring - Travertino and carpet upgraded

Fell out of escrow and needs

buyer now.

Can close in 30 days.

Already has appraisal completed!

Priced at $320,000

Plus $13,000 incentives to close

Call me for more information regarding Real Estate, in Southwest Riverside County:

Trulia Profile: http://www.trulia.com/profile/id/331413