Keisha's Blog

What Buyers Need To Know About Financing a Home Today

Sat, 04 Oct 2008 19:40:58 -0500

Most buyers today have questions about financing their new home. This is particularly true right now in light of recent developments in the lending industry. There are a few things that you and your Realtor can do to ensure that your new home purchase goes a little more smoothly.

First and foremost, know your credit score. The lending industry is very credit score driven. FICO scores range from 300 to 850. Any FICO score above 720 is considered good. Approximately 50% of consumers have a FICO score of 700 or better. The best way to improve FICO scores is by paying bills on time.

Additionally, getting pre-approved BEFORE beginning the home search. Pre-approval generally means that the lender inquires about the buyers income, verifies income, pulls a credit report to check credit worthiness and then subsequently pre-underwrites the loan to determine the buyers qualifications. This pre-approval is much stronger than pre-qualification.

The days of stated income loans are long gone. Liquid asstes such as savings accounts, stocks, etc. are also factored into loan underwriting. Larger, established financial institutions are a buyers best bet today due to the recent market volatility. Following these few tips could vastly improve buyers chances of getting an offer accepted and alleviating the headache of navigating through several unsuccessful offers.

So its Time To Sell Your Parents Home-Estate Planning Made Easy

Sat, 04 Oct 2008 18:29:35 -0500

It can be a time of great disorder, despair and overwhelming responsibility. But it can be made easier. Oft times individuals are caugt off guard by a parents death and must then sort through years of belongings and sell the family home. The executor has the responsibility and liability for any financial and legal decisions associated with the sale of the home and its contents.

As an executor, seek help to clear out these lifetime accumulations and prepare the house for sale. Here are a few tips

1. Decide what's most important by utilizing the 80/20 rule. If you get hung up on the emotional whirlwind of keeping several items out of "sentimental value" then set them aside and aim your attention towards the 80% that no one cares about.

2. Be thorough. Look through everything very carefully before selling or discarding it so as not to inadvertently give away items of true value; i.e. money, insurance policies, stock certificates, cash, etc.

3. Sell or donate everything that family members decide that they do not want.

Following these tips can help make this experience a little easier. Good luck on your estate planning.

Bank Owned Home For Sale- 5901 Milana Dr., Corona-$319,900

Sat, 04 Oct 2008 09:49:18 -0500

Status:	Active
ML#:	K08141644

Orig. List Price:	$319,900

County:	Riverside
Property Type:	Single Family Residence/D
Bedrooms:	4
Bath(F,T,H,Q):	3,0,0,0
Sqft/Source:	2,579/Assessor's Data
Sqft Lot/Source:	8,712/Assessor's Data
AC: Y	Pool: N
View: N	Horse:

Area:

248-Corona

Thomas Guide:

683B5

Cross Street:

ACHIBALD /SUMMNER

Stories:	One Level		Senior Community:	No
Year Built:	2003		Lease Considered:	N

Description

WELCOME AND THANK YOU FOR CALLING ON THIS GREAT SINGLE LEVEL HOME LOCATED AT 5901 MILANA DR. CORONA, CA. SPACIOUS IN EVERY DETAIL OFFERING 2579 APPROXIMATE SQUARE FEET OF LIVING SPACE AND NESTLED IN A HUGE 8712 SQUARE FOOT LOT. THE HOME OFFERS 4 BEDROOMS AND 3 FULL BATHS. AS YOU ENTER THE FORMAL LIVING AND DINING ROOMS ARE OFF THE SIDE. THE KITHEN IS SUPER SPACIOUS AND OVER LOOKS INTO THE GREAT BIG SEPARATE FAMILY ROOM. THE KITCHEN IS ACCENTED WITH STAINLESS STEEL APPLIANCES AND GRANITE COUNTER TOPS. DARK WOOD MAPLE CABINETRY ADORNS 2 SIDES OF THIS HUGE KITCHEN. ALL BEDROOMS ARE SPACIOUS, THE MASTER SUITE SITS AT THE REAR OF THE HOME OVER LOOKING THE POOL SIZED REAR YARD. UPGRADES THIS HOME OFFERS ARE: CERAMIC TILE IN MOST AREAS, PATTERN CAPPET IN THE BEDROOMS AND HALLWAY, LAMINATE FLOORS IN THE FORMAL AREAS. VERY NICE NEUTRAL COLORS THROUGH OUT THIS HOME.

List Price Excludes:

Interior Features

Fireplace:	Family Room, Gas, Wood
Cooling:	Central
Heating:	Forced Air
Laundry:	Individual Room

Cooking Appliances:	Range, Stove, Oven
Appliances:	Dishwasher, Garbage Disposal, Microwave
Utilities:	Cable TV, Public Water, Sewer Connected & Paid
220 Volt Location:	In Laundry

Interior:	Built-Ins, Ceiling Fan, Smoke Detector, Window Blinds
Rooms:	Dressing Area, Entry, Family Room, Living Room, Master Bedroom, Separate Family Room, Walk-In Closet, Walk-In Pantry
Eating Area:	Breakfast Counter / Bar, Breakfast Nook
Floor:	Ceramic Tile, Wall-To-Wall Carpet, Wood Laminate

Exterior Features

Pool:	None
Spa:
Patio:

Style:	Contemporary
Exterior Construction:	Stucco
Roofing:	Tile

Sprinklers:	In Front
View:	None
Structure:	Turnkey
Outdoors:	Landscaped, Lawn, Yard
Fence:	Blockwall, Wood
Lot/Community:	Curbs, Sidewalks, Lot-Level/Flat
Legal:	Real Estate Owned

Garage and Parking

Garage Att/Det:

Attached

Parking Spaces:

Garage Spaces:

Carport Spaces:

RV Dimensions:

Parking:

Garage Door Opener

# of Remotes:

Land

Lot Number:	23	Zone:		Model Name:
Block Number:

What the Newly Signed Economic Stabilization Act Means For You

Sat, 04 Oct 2008 09:07:58 -0500

On October 3, 2008 the U.S. House of Representatives approved the Emergency Economic Stabilization Act by a 263 to 171 vote. The legislation was then signed into law by President Bush.

Here’s what the legislation does that will better the economy:

1. It requires the Treasury Dept. and any federal agency that owns or controls troubled mortgages to modify those mortgages wherever possible, therefore this will help families keep their homes. This will also extends the exclusion from federal income tax of mortgage debt forgiveness until the end of 2012. This means a stabilization of our current housing market may finally begin to take shape. This means less short sales, less foreclosures and at hopefully maintaining our current equity for the time being.

2. It addresses the credit crisis by allowing financial institutions to immediately sell $250 billion in troubled assets to the U.S. Treasury Department under the newly created Troubled Assets Relief Program (TARP). Another $100 billion would be made available upon the President’s request. Should the President deem it necessary, and with Congressional review, the Treasury Dept. may utilize the remaining $350 billion. This also means that credit continues to be made available not only to big business but small businesses and individuals alike.

3. Protects taxpayers by allowing the Treasury Dept. to take an ownership stake in participating companies. In addition, if after five years TARP has incurred a net loss, the President must propose legislation that would force participating companies to reimburse the government to make up the difference

4. It sets up an insurance program, funded by the financial industry, to guarantee companies troubled assets, including mortgage-backed securities purchased prior to March 14 this year. This could mean potentially less jobs loss.

5. It shields bank deposits by temporarily raising the FDIC insurance cap to $250,000 from $100,000; and temporarily increases the federal insurance level for credit union savings to $250,000, both until the end of 2009. Your money now has even more protection in our banking systems.

6. Creates renewable energy tax breaks for individuals and businesses, including a deduction for the purchase of solar panels; as well as continuing other tax breaks that were set to expire; and extends relief from the Alternative Minimum Tax (AMT) by another year. This means you can go green, help the environment AND get rewarded monetarily through tax cuts for your efforts.

This is a law that was desperately needed both to revitalize and stimulate our economy. The housing market had been crippled for months by this challenge but there is now light at the end of the tunnel. Should you have further questions or comments regarding this please feel free to contact me at (909) 261-6377 or email me at KHosea@KASIHomes.com

1133 4th Street, Norco, CA 92860-FOR SALE $325,000

Fri, 05 Sep 2008 00:21:47 -0500

Status:	Active
ML#:	K08125864


:	$179.46
County:
Property Type:	Single Family Residence/D
Bedrooms:	3
Bath(F,T,H,Q):	2,0,0,0
Sqft/Source:	1,811/Assessor's Data
Sqft Lot/Source:	13,939/Assessor's Data
AC: Y	Pool: N
View: N	Horse: Y

Area:

250-Norco

Thomas Guide:

713F5

Cross Street:

CORONA / TEMESCAL

Stories:	One Level		Senior Community:	No
Year Built:	1952		Lease Considered:	N		:

Description

WELCOME TO THIS LOVELY HORSE PROPERTY IN NORCO LOCATED AT 1133 4TH STREET. ZONED FOR APPROXIMATE 4-5 HORSES ON AN APPROX. 14, 000 SQ.FT. THE HOME OFFERS 1811 SQ. FT OF LIVING ENJOYMENT WITH HUGE LIVING FAMILY ROOM, 3 SPACIOUS BEDROOMS AND 2 FULL BATHS. THE KITCHEN OFFERS NEWER CABINETRY AND GRANITE MARBLE TOPS AND NEWER APPLIANCES. WOOD FLOORS ADORN THE ENTRY AND LIVING ROOMS. AT THE REAR OF THE PROPERTY A LARGE BARN THAT IS MULTI- LEVEL WITH PULL THROUGH ACCESS, OFFERS A GREAT AREA FOR TACK ROOM AND OR LOTS OF STORAGE. THE LARGE LOT IS FLAT AND OFFERS PLENTY OF ROOM TO ONE SIDE FOR STABLES AND OR POOL. THE ROOF IS NEWER AND THE HOME WAS RECENTLY PAINTED. THIS IS A GREAT HOME IN WONDERFUL EQUESTRIAN COMMUNITY, CLOSE TO ALL TRANSPORTATION AND ALL AMENIITES.

List Price Excludes:

Interior Features

Fireplace:	None
Cooling:	Central
Heating:	Forced Air
Laundry:	In Garage

Cooking Appliances:	Range, Stove, Gas
Appliances:	Dishwasher, Garbage Disposal, Microwave
Utilities:	Water District, Sewer Connected & Paid
220 Volt Location:	Workshop

Interior:	Ceiling Fan, French Doors, Smoke Detector, Window Blinds
Rooms:	Great Room, Living Room, Master Bedroom
Eating Area:	Breakfast Nook, Dining Ell
Floor:	Wall-To-Wall Carpet, Wood Laminate

Exterior Features

Pool:	None
Spa:	None
Patio:

Style:	Craftsman
Exterior Construction:	Stucco
Roofing:	Composition, Shingle

Sprinklers:
View:	None
Structure:	Main Floor Bedroom, Main Floor Master Bedroom, Freestanding, No Common Walls, Additions/Alterations, Repairs Cosmetic
Outdoors:	Landscaped, Lawn, Yard, Barn
Fence:	Chain Link
Lot/Community:	Corners Established, Horse Property, Horse Property Unimproved, Lot-Level/Flat
Legal:	Short Pay / Subject To Lender

Garage and Parking

Garage Att/Det:

Attached

Parking Spaces:

Garage Spaces:

Carport Spaces:

RV Dimensions:

Parking:

Garage Door Opener, Driveway

# of Remotes:

Land

Lot Number:	8	Zone:		Model Name:
Block Number:	28	Tract Sub Area Code:	TR 0	Model Code:
Lot Dimensions:		Tract Number:	2	Assessment:	None
Acres:	0.32	Community/Complex:	Units Total Number:
Association Dues:	$0/$0	Association Amenities:

Lease/Fees

School Information

Land Fee/Lease:

Fee

Date of Land Lease Renew:

School District:

Corona-Norco Unified

Land Lease Amount:	Elementary School:	CALL
Land Transfer Fee:	Junior High School:	CALL
Land Lease Purchase:

14312 Caryn, Fontana-$352,000

Thu, 07 Aug 2008 18:55:14 -0500

OPEN HOUSE--SATURDAY, AUGUST 9th 1:00 P.M. - 4:00 P.M.


ML#:	K08052927



County:	San Bernardino
Property Type:	Single Family Residence/A
Bedrooms:	4
Bath(F,T,H,Q):	2,0,1,0
Sqft/Source:	2,648/Assessor's Data
Sqft Lot/Source:	6,000/Assessor's Data
AC: Y	Pool: N
View: Y	Horse:

Cross Street:

S/BASELINE, W/CHERRY

Stories:	Two Level		Senior Community:	No
Year Built:	2001		Lease Considered:	N

Driving Directions:

CHERRY-RT. ON ROAN, RT. ON LIBERTY, LF. ON $, LF. ON SANTA LUCIA, RT. ON HALE, RT. ON CARYN.

Description

SHORT SALE. LET'S GO TO ESCROW TODAY! CLEAN READY TO MOVE INTO. MOVITATED SELLER. ALL FOUR BEDROOMS ARE UPSTAIRS PLUS A VERY LARGE LOFT. THE NEIGHBORHOOD PARK IS ACCROSS THE STREET. JUST MINUTES FROM THE 15 FREEWAY, AND 2 MAJOR MALLS.

604 N. Dudley Street #12, Pomona-$142,900

Thu, 07 Aug 2008 18:34:41 -0500

OPEN HOUSE FRIDAY,AUGUST 8TH FROM 3:00-7:00 P.M.


ML#:	K08093859



County:	Los Angeles
Property Type:	Townhouse/A
Bedrooms:	3
Bath(F,T,H,Q):	3,0,0,0
Sqft/Source:	1,414/Assessor's Data
Sqft Lot/Source:	4,151/Assessor's Data
AC: Y	Pool: Y
View: N	Horse:

Cross Streets:

HOLT & DUDLEY

Stories:	Two Level
Year Built:	1983

Driving Directions:

eAST OF THE 71 FREEWAY, NO. OF HOLT (VALLEY) SO. OF 10 FREEWAY

Description

END UNIT WITH A FRONT AND SIDE YARD. HAS NEW FLOORING, PAINT, AND FEW OTHER MINOR REPAIRS, THIS WILL BE A VERY NICE SPACIOUS UNIT. ATTACHED 2 CAR GARAGE. WALK TO THE MARKET, AND OTHER SHOPPING NEEDS.CLOSE TO SHOPPING. PUBLIC TRANSPORTATION,FREEWAYS,SCHOOLS.
List Price Excludes:

7329 Meade Court, Fontana, CA -$355,000

Wed, 06 Aug 2008 10:59:10 -0500


ML#:	K08111449



County:	San Bernardino
Property Type:	Single Family Residence/D
Bedrooms:	3
Bath(F,T,H,Q):	2,0,1,0
Sqft/Source:	2,407/Assessor's Data
Sqft Lot/Source:	5,003/Assessor's Data

264-Fontana

Cross Street:

Baseline/Heritage

Stories:	Two Level
Year Built:	2000

Description

This is a Bank Owned Home and was built in 2000 with Approx. 2407sqft. located on a Cul-De-Sac in Heritage Village. Features include an Open Family Room, Living Room, Possible Den, Open Loft Area Upstairs, Master Bath with Duel Sinks and a Good Size Backyard with Block walls.
List Price Excludes:

Interior Features

Fireplace:	None
Cooling:	Central
Heating:	Forced Air
Laundry:	Individual Room

Fed Up With Revealing Your Social Security Number To Sell Your Home?

Wed, 06 Aug 2008 09:54:02 -0500

If you have ever sold a home in California then you have probably endured the request for your social security number on certain documents that are then disseminated to the buyers of your home. This has always been an area of concern for many sellers. Countless times, sellers have asked why they were required to disclose such personal information to the buyer.

Thankfully the Housing and Economic Recovery Act of 2008 contains a major revision to this requirement. Effective immediately sellers are no longer required to provide their buyers the Sellers Affidavit on Non Foreign Status as long as the seller furnishes the Seller's Affidavit with their social security number to escrow or a "qualified substitute." A "qualified substitute" is a person chosen to close the transaction. This can include an escrow company, a title company, or the buyer's agent.

What the Historic Housing and Economic Recovery Act of 2008 Means For Consumers

Wed, 06 Aug 2008 09:26:01 -0500

Seems that everyone is wondering how the recent real estate decline will affect their bottom line. With gas prices soaring, a lagging economy and foreclosures looming, it seems only natural that people are asking about their homes.

The federal housing bill called the Housing and Economic Recovery Act of 2008 is geared to help stabilize the economy by providing support to first time homeowners and by providing aid to homeowners facing foreclosure. This bill will allow approximately 400,000 homeowners facing foreclosure to refinance their current mortgages with Federal Housing Administration (FHA) backed loans.

The bill also permanently increases the conforming loan limit to $625,500. This is a permanent increase from the former limit of $417,000. This new loan limit will become effective at the expiration of the economic stimulus limits on December 31, 2008. There is some relief in sight!