So. California's Inland Empire Real Estate News, Tips & Updates

1226 Bayport Circle, Pomona - Condo for Sale!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Tue, 06 Oct 2009 08:45:45 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

1226 Bayport Circle, Highland, CA

1226 Bayport Circle - Great Condo for Sale!

2BR/3BA Condo

offered at $109,000

Year Built	1985
Sq Footage	1,243
Bedrooms	2
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	3,284 sqft
HOA/Maint	$0 per month

DESCRIPTION

This 2 bedroom 2 bath condominium is perfect for first time home buyers looking for a starter home or an investor looking for a positive cash flow. Today’s great interest rates combined with this great price, makes this a Win..Win opportunity! Needs a Little TLC; easy commuter access.

see additional photos below

ADDITIONAL PHOTOS

Photo 1

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 6, 2009, 5:25am PDT

14255 Elizabeth Court, Fontana 92337 - Home for Sale

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Tue, 06 Oct 2009 08:03:59 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

14255 Elizabeth Court, Fontana, CA

Check out this Creat Fontana Home!

3BR/2.5BA Single Family House

offered at $151,900

Year Built	1987
Sq Footage	1,349
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	1
Parking	2 Car garage
Lot Size	4,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

Check out this 3 bedroom, 2 ½ bath pool home. Nestled in a quant Southridge cul de sac. With over 1330 sq feet of living space. This home boasts soaring vaulted ceilings, great open floor plan, gallery style kitchen, living room with cozy fireplace, private master suite, covered patio, dog run and fully landscaped yard. From leisurely living to formal entertaining this home makes entertaining a joy and weekends at home a pleasurable retreat.

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 6, 2009, 4:45am PDT

32395 Windemere Dr - Enjoy Leisure Living in Lake Elsinore - $234900

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Tue, 06 Oct 2009 07:18:04 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

32395 Windemere Dr, Highland, CA

Enjoy the Leisure Living in Lake Elsinore!

4BR/3BA Single Family House

offered at $234,900

Year Built	2004
Sq Footage	3,242
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	3 Car garage
Lot Size	8,276 sqft
HOA/Maint	$0 per month

DESCRIPTION

Today’s great interest rates with this great price makes this award winning Canyon Hills home a perfect opportunity to live your dream in Lake Elsinore. Four spacious bedrooms, 3 baths, over 32000 Sf create the perfect environment for your family holiday gatherings around the cozy fireplace in the heart of this inviting home. From leisurely living to extravagant entertaining, you’ll find yourself right “At Home” with all the amenities and potential available here in this elegant 2-story captivating contemporary. This home makes entertaining a joy and weekends at home a pleasurable retreat. Call us to make an appointment for your private tour.

see additional photos below

ADDITIONAL PHOTOS

Front View

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 6, 2009, 4:01am PDT

2338 North Sycamore Ace, Rialto CA - Diamond in the Rogh! $169,900

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Tue, 06 Oct 2009 03:05:08 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

2338 North Sycamore Ave, Railto, CA

Diamond in the Rough!

4BR/3BA Single Family House

offered at $169,900

Year Built	1980
Sq Footage	2,368
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	8,400 sqft
HOA/Maint	$0 per month

DESCRIPTION

We’re back on the market! This diamond in the rough represents a great opportunity to live in Rialto’s premiere country club community. With 4 spacious bedrooms and 3 baths, this 2 story home offers plenty of room for your growing family.

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 6, 2009, 12:00am PDT

6941 Osbun Road, San Bernardino 92404 - Investment Property $89,900

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Mon, 05 Oct 2009 15:47:32 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

6941 Osbun Road, San Bernardino, CA

Investment with a Little TLC!

4BR/2BA Single Family House

offered at $89,900

Year Built	1946
Sq Footage	1,734
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	None
Lot Size	10,638 sqft
HOA/Maint	$0 per month

DESCRIPTION

THIS 4 BEDROOM, 2 BATH FIXER NEEDS A LITTLE TLC. WITH A SPACIOUS FAMILY ROOM, FORMAL LIVING ROOM, SPACIOUS BEDROOMS AND LARGE POOL SIZE LOT(APPROX. 10,700 SQ FT.), THIS HOME OFFERS THE PERFECT 1ST TIME BUYER OPPORTUNITY FOR YOUR GROWING FAMILY. CONVENIENTLY LOCATED CLOSE TO SCHOOLS AND SHOPPING AND IS FREEWAY CLOSE FOR COMMUTER ACCESS. SEE YOU IN ESCROW

see additional photos below

ADDITIONAL PHOTOS

Photo 1

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 5, 2009, 10:51am PDT

8412 Western Trail Pl #C - Beautiful Rancho Cucamonga Starter! - PENDING

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Fri, 05 Jun 2009 09:30:30 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

8412 Western Trail Pl #C, Rancho Cucamonga, CA

Beautiful Rancho Cucamonga Starter!

2BR/2.5BA Single Family House

offered at $133,000

Year Built	1986
Sq Footage	1,110
Bedrooms	2
Bathrooms	2 full, 1 partial
Floors	2
Parking	None
Lot Size	1,110 sqft
HOA/Maint	$139 per month

DESCRIPTION

Beautiful Rancho cucamonga starter with 2 bedrooms each with its own bathroom and a half bath downstairs. Living room and dining room has a laminated wood floor and cozy fireplace with access onto a private patio area. The complex has a myriad of amenities that include a pool, spa, basketball and tennis courts.

see additional photos below

PROPERTY FEATURES

Central A/C	Fireplace	Living room
Dishwasher

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 5, 2009, 5:47am PDT

11020 Appomatox Court, Alta Loma - Great 2 Story Compass Rose Home - $389,900

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Fri, 05 Jun 2009 08:25:25 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

11020 Appomatox Ct, Alta Loma, CA

Just Reduced! Great 2 Story Compass Rose Home in Rancho Cucamonga

3BR/3BA Single Family House

offered at $389,900

Year Built	1990
Sq Footage	2,629
Bedrooms	3
Bathrooms	3 full, 0 partial
Floors	2
Parking	3 Car garage
Lot Size	9,200 sqft
HOA/Maint	$0 per month

DESCRIPTION

ENTRY WITH SOARING VAULTED CEILINGS. THIS OPEN FLOOR PLAN OFFERS A FORMAL LIVING ROOM WITH FIREPLACE AND AN ELEGANT DINING ROOM, LARGE ENTERTAINING FAMILY ROOM WITH SHUTTERS OPENS ONTO A GOURMET KITCHEN WITH GRANITE COOKTOP ISLAND THAT LENDS PERFECTLY TO INFORMAL BUFFET STYLE DINING; THERE IS A QUEEN SIZED BEDROOM DOWNSTAIRS WITH A CONVENIENT BATH, UPSTAIRS YOU'LL FIND 2 OTHER SPACIOUS BEDROOMS AND A MASTER SUITE THAT CREATES AN OASIS OF LUXURY AND COMFORT. SELLER HAS UPGRADED THROUGHOUT; RV PARKING, CUL DE SAC LOCATION ALL WITHIN WALKING DISTANCE TO BANYAN ELEMENTARY, LOS OSOS HIGH AND CHAFFEY JR COLLEGE. SHOWN BY APPOINTMENT ONLY.

see additional photos below

PROPERTY FEATURES

• Central A/C	• Central heat	• Walk-in closet
• Tile floor	• Family room	• Living room
• Dining room	• Dishwasher	• Yard

COMMUNITY FEATURES

• Garage parking

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 24, 2009, 6:33am PDT

6941 Osbun Rd, San Bernardino CA - Great Investment needs a Little TLC!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Fri, 05 Jun 2009 07:55:55 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

6941 Osbun Road, San Bernardino, CA

Investment with a Little TLC!

4BR/2BA Single Family House

offered at $99,900

Year Built	1946
Sq Footage	1,734
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	None
Lot Size	10,638 sqft
HOA/Maint	$0 per month

DESCRIPTION

see additional photos below

ADDITIONAL PHOTOS

Photo 1

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 5, 2009, 4:34am PDT

29600 Water Street, Highland CA - This Could Be The One! $269,000

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 04 Jun 2009 19:42:09 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

29600 Water Street, Highland, CA

Great Home with Mountain View!

4BR/3BA Single Family House

offered at $269,900

Year Built	1997
Sq Footage	1,946
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	3 Car garage
Lot Size	12,450 sqft
HOA/Maint	$0 per month

DESCRIPTION

This Highland Home Boasts a Sparkling Pool and Bubbling Spa Great For Family Weekend Summer Fun; Give Your Family Room to Relax With 4 Spacious Bedrooms, 3 Baths, The Master Bedroom Has Large His And Her Closets; The Family Room Encourages Family Gatherings With It's Cozy Fireplace And The Great Gourmet Kitchen Invites Meal Preparation In An Open Entertaining Environment; Newer Paint And Carpet, With A Little TLC This Could Be A Wonderful Place To Come Home To!

see additional photos below

ADDITIONAL PHOTOS

Photo 1

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 24, 2009, 7:03am PDT

640 W. Manzanita St, Rialto CA 92370 - Great Property, Great Price!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 04 Jun 2009 19:31:39 -0500

Mykel Martin | Tri County Residential Properties | 909-476-9600

640 W Manzanita Street, Rialto, CA

Great Price, Great Property!

3BR/2.5BA Single Family House

offered at $162,500

Year Built	1985
Sq Footage	1,352
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$75 per month

DESCRIPTION

This great price along with today's low interest rates make this 3 bedroom, 2.5 bath home an excellent first time buyer opportunity. Located in a gated community this spacious floorplan offers a soaring vaulted ceilings, new neutral tone carpet, has been freshly painted, new blinds installed on first floor, low maintenance ceramic tile flooring, cozy fireplace in the living room, interior laundry and more. Brand new appliances will be installed prior to close of escrow. Convenient to schools and shopping.

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Mykel Martin

Tri County Residential Properties

909-476-9600

For sale by individual owner

Equal Opportunity Housing

Posted: Jun 4, 2009, 4:23pm PDT

3972 Sauvignon Way, Perris CA - Sharp Four Bedroom Home for Sale!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 04 Jun 2009 17:51:19 -0500

Mykel Martin | Your Tri-County Residential Realty Team | 909-476-9600

3972 Sauvignon Way, Perris, CA

Sharp 4 Bedroom Home for Sale!

4BR/3.5BA Single Family House

offered at $164,900

Year Built	2004
Sq Footage	2,896
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	6,098 sqft
HOA/Maint	$75 per month

DESCRIPTION

Take a look at this sharp 4 bedroom 3.5 bath home built in 2004. Situated on a generous corner lot in a newer community, this contemporary home offers plenty of room for a growing family. Today's low interest rates and this great price make this an excellent opportunity at affordable homeownership. Convenient to schools & shopping with easy access.

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5

Contact info:

Mykel Martin

Your Tri-County Residential Realty Team

909-476-9600

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 24, 2009, 7:10am PDT

Protect Against Long-Term Injury Killing You Financially

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 08 Jan 2009 11:25:26 -0600

Some interesting statistics I found on the Internet:

13% of Americans will die before age 65
28% of Americans will face a long-term disability before age 65 and be unable to work and/or earn an income

Despite these facts, Americans are twice as likely to insure their lives as their long-term health.

Life insurance is important, but is much less likely to be redeemed than a suitable long-term disability insurance policy.

Consider that 1 in 2 personal bankruptcies is the result of costly medical bills from costly long term medical treatments. Then, consider that 75 percent of those bankrupted families actually had health insurance coverage. At some point, health insurance companies stop paying for long-term care, shifting the burden to the injured.

A person with a long-term disability cannot work his usual job and cannot earn his usual income. Many families go broke because of long-term health issues and many lose their homes to foreclosure during times like these. Adequate long-term disability insurance can help prevent the financial distress of both of these scenarios.

Do some homework and find out if your employer offers long-term disability insurance that can help protect against a long-term medical crisis. Consult with a qualified financial planner o ensure that your individual coverage suits your short and long-term financial goals.

What's In Store For 2009?

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 08 Jan 2009 02:06:35 -0600

We're one week into the New Year , but that's not stopping market "experts" from predicting what's in store for 2009.

The predictions on housing and mortgage rates run the gamut:

50% of the Economist predict Home prices will continue to decline
The other 50% predict Home prices have touched bottom
Forbes predicts Mortgage rates will dip
Bloomberg says Mortgage rates will rise

After interpreting and analyzing it all, what becomes crystal clear is that the experts have no better idea about what the future holds than you or I. Their guesses are educated ones, but they are guesses just the same.

So, before you embrace economists' predictions about the demise (or recovery) of the broader economy to make "personal economy" decisions, consider that the all to often quoted experts have a much better track record analyzing the past than predicting the future.

All we know for sure right now is that home prices and interest rates are lower this year than they were the same time last year. By 2010, both could be even lower.

Or maybe they won't!

Coming Soon - Preview!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Mon, 22 Dec 2008 18:40:50 -0600

7469 Holloway Road, Rancho Cucamonga, CA

California Housing Market Update

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Fri, 19 Dec 2008 01:24:18 -0600

Increasing home sales, declining home prices, stricter loan guidelines, and the financial market meltdown all contributed to a turbulent year in our California housing market, according to the recent California Association of Realtors (C.A.R.)Housing Report I read this week. The report noted that approximately one in five home sales in California were the result of foreclosure, short sale, or borrower default.

Sales generally improved over last year in all parts of the state, with significant price declines leading to sharp increases in the Central Valley and Southern California, C.A.R. said. Realtors attributed the increase to the growth in the absorption of distressed properties with mark-downs in prices.

Reports show the market continuing to experience large decreases in the coming months before leveling out in late 2009. The California median price is expected to further decline by 6% from $381,000 for 2008 to $358,000 for 2009. Realtors noted that affordability was high for first-time home buyers increased dramatically (approx 53%) during the third quarter of 2008 resulting from this decline in median home prices.

Increasingly restrictive lending standards and the credit crunch resulted in the inability for many other first-time home buyers to qualify for a mortgage loan. Because of the ongoing turmoil in the financial market, many lending institutions declined loans that were considered risky, especially jumbo loans with amounts that exceeded Fannie Mae and Freddie Mac guidelines.

As conventional loans became more difficult to obtain and the credit crunch contracted further, the percentage of FHA loans increased significantly in California. FHA loans typically require lower down payments and have less rigid credit-qualifying guidelines than conventional loans.

C.A.R. attributes this significant gain partially to the Economic Stimulus Act of 2008, which temporarily raised the conforming loan limit in high-cost areas from $417,000 to $729,750 until December 31, 2008.

Other highlights from the C.A.R. Housing Report included:

Distressed properties sold during 2008 had a median sales price of $330,000, a median price per square foot of $197, and a median size of 1,600 square feet.
More than half of the distressed properties sold were REO (54.8%)
Almost one-third were short sales (31.2%)
The discount between sales price and list price increased from 4.3% in 2007 to a record setting 7.5% in 2008
One in five properties fell out of escrow in 2008. Primary reasons included: buyers could not secure financing (33.3%); buyer changed mind due to fear of economy or loss of job (33.3%); and buyer could not come up with the down payment (10.8%)

We Love the Inland Empire... It's a Great Place to Live!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Sun, 14 Dec 2008 12:13:43 -0600

We’ve Got Lemons, Let’s Make Lemonade

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Mon, 08 Dec 2008 00:38:54 -0600

Just read a blog post What drew you to become a Realtor? As I began to comment on her post, my comment was evolving into a post. So rather than monopolize her page, here's my 2 cents.

I stepped out of Real Estate sales about a year ago to take a growth opportunity to become the Southern California Sales Specialist for HomeSteps a unit of Freddie Mac. (a position parallel to an Asset Manager position). It was a localized pilot program that was recently eliminated and relocated to Dallas.

You would have thought that I'd jumped at the relocation opportunity for such a prestigious, well paying job in this economy. But I was so tired of dealing with people's broken dreams; I gladly chose severance over relocation.

Over the past 15 years of being a realtor here in the Southern California area, I've helped buyers, sellers and investors achieve their real estate goals, helped lenders liquidate their distressed assets - and both have been rewarding on so many different levels. What drew me back was not so different than what drew me in 15 years ago. I'm excited to be back to my passion - helping people buy, sell and keep their homeownership dreams alive!

Living here in the Inland Empire (the REO trenches), I've had a daily reality check of seeing this market from the unique advantage of both perspectives and how this economy is effecting families here in our community...my neighbors, my friends and my past clients.

Like so many of you, I benefitted greatly when this market was good. Now, I want to make a difference and be a benefit to this market. I don't just want to stand by idly doing business as usual spending all of my efforts focusing on using the knowledge and experience that I gained as an advantage in obtaining REOs. I learned much more than that over this last year. In an effort to give back to my community, I'm going to include Loss Mitigation into my business to provide Sellers assistance with either saving their homes or selling them to avoid the devastating consequences of a foreclosure.

As for the REO business that I am blessed enough to acquire, I want to generate awareness to Buyers that foreclosures are an affordable housing option that can become the cornerstone of their future wealth creation. My goal is going to be to turn those REOs into new beginnings for families that want to own a home.

OK, our market has changed over the last few years. Homeownership has long been symbolic of the American Dream and that hasn't changed. There's nothing we can't adapt to. We just need to remember why we became Realtors and find ways to contribute to rebuilding our neighborhoods and communities through education and public awareness.

Pointed In The Right Direction

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Fri, 05 Dec 2008 00:43:41 -0600

Seven of the top sixteen metropolitan areas with the highest rates of foreclosures in the nation are in California, according to the latest data from RealtyTrac. In the Stockton, Riverside/San Bernardino, Sacramento, Bakersfield, Oakland, Fresno and San Diego metropolitan areas, there was an average rate of approximately one foreclosure filing for every sixty households in the last quarter.

California is taking a very aggressive approach. Gov. Arnold Schwarzenegger recently announced that California has inked deals with number of lenders, including Countrywide Financial, Litton, HomeEq and GMAC, to streamline and fast-track loan modifications for distressed subprime borrowers.

California also is using state housing money to offer some bridge loans to help consumers rework their mortgages, and the state has created consumer protections related to foreclosures and lending. In addition, a number of California lawmakers back foreclosure moratoriums.

It is unknown if any actions taken by the California government is going to have any significant impact on home values or homeowners in distressed situations.

Economists and the real estate industry are split on whether government intervention is the right solution. But we all agree that no one really wins when homes are foreclosed upon; loan modifications offer better results for both the lenders and borrowers. There is also a strong argument that government involvement only delays the market from bottoming out and turning around.

Heaven knows there is a lot of energy being expended ranting and pointing fingers. That is getting us no where quick! In my opinion there's no quick fix out there to repair damages done by years of uninformed overspending, personal and corporate greed. However, as Realtors we all have a vested interest in the Housing Market recovery. Our continued success depends on it! Within the Active Rain community collectively resides some of the sharpest minds in the real estate industry. I am interesting in hearing some of your positive input on the steps you feel need to be taken / the practices you think need to be implemented to encourage a positive recovery. Please share your opinions.

BAILING OUT THE HOUSING INDUSTRY

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 27 Nov 2008 02:21:56 -0600

The National Association of Realtors (NAR) and Realogy Corporation, a global provider for real estate and relocation, feel that the incentive of substantially lower mortgage rates would directly stimulate the housing market - both in sales volume and price - and thus accelerate the overall U.S. economic recovery. They have submitted a proposal to Congress for a federal buy down of the interest rates to 4.5% fueled by their belief that there are millions of credit-worthy people ready to jump back into the housing market with just a little motivation.

They are proposing that the buy down could be funded from the $700 Billion federal plan to put liquidity back into the markets. The buy down proposed would apply to the purchase of all homes under $1 Million Dollars. NAR is also asking for a temporary $7500 tax credit for all buyers, not just those purchasing an REO. There is also a request to make the FHA limits of $729,750 permanent.

Anybody out there with an opinion on this?

Passwords 101

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Sun, 23 Nov 2008 20:11:54 -0600

I just gave up on an exhausting search for a lost password for the Flickr.com account I established this time last year. That exercise in futility sent me on a second quest looking for some secure method to store the plethora of passwords I have to remember on a consistent basis.

We've all know the rules for a strong, safe password is that it be different for every destination. The passwords should not be easily deciphered. They should consist of numbers, letters, and in some cases symbols. They should be easily recalled so that they do not have to be written down and discovered.

In today technology driven environment, my Google search provided limitless choices.

NeedMyPassword.com, RoboForm.com, my Blackberry Password Keeper . . .

After hours of researching the pros and cons, I have come to his conclusion.

Storing passwords in a file on your computer or in your cell phone is risky. What happens if that computer or phone is stolen or sent in for repair? All your confidential information is compromised. Not to mention an accidental file corruption would destroy your ability to access your passwords. And heaven forbid, I forget the password to the online site that manages my passwords :-)

Instead of using outside solutions, I've decided on utilizing a tool that will always be with me and is very powerful when used correctly . . . my brain! I'd like to share a plan my 16 year old daughter just shared with me:

Start by creating a system that you can easily remember. Select a 4-6 letter word that you can remember. Let's say that word is login. Now select a number that has meaning. Let's say it is 20. Choose to capitalize one or more letters in the word login. Your might choose to capitalize the 3rd letter and let it become loGin. Now add this to your favorite number. Your unique personal password now becomes loGin20. You can now use this password as your own personal password anywhere a password is needed and it should meet most every requirement you come across.

But how do you address the fact that you need a unique password for every site? Let's say you need to create a password for the ActiveRain.com. One method would be to add 'ar' (for Active Rain) to the beginning or end of your personal password which would cause it to become arloGin20 or loGin20ar.

There are endless variations on this method; the specific system you use is not really important. . . as long as you're consistent. What is important is that you have a FREE system that is easily remembered without relying on outside aids. You will only need to remember your personal password and then simply begin or end it with whatever specific site you are using it with.

Why couldn't I think of that! Gotta go and simplify my life by re-creating a ton of passwords. If you have any other time saving tricks, please don't hesitate to share them.

REO Is The Way To Go!

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 20 Nov 2008 00:40:20 -0600

Because of the massive and wide-spread use of sub-prime mortgages over the past five years, the foreclosure crisis has created an historic level of REO properties hitting the market; A trend that has contributed to declining housing prices and created a whole new level of affordability for buyers. Reports show that residential real estate investment activity in California has grown upwards of 65% in the past year alone with real estate investors the most rapidly growing population of buyers.

We try to make a significant effort to market REO properties to low to moderate income homebuyers that were previously priced out of the market. First Time home buyers that want to get the most value for their first investment should consider REOs as an affordable housing option and turn these losses into new beginnings.

There are real benefits to buying an REO:

Affordability - Typically foreclosures are aggressively priced to sell. Banks are eager to sell them and will price them low to ensure a quick transaction;
More bargaining leverage - Banks usually want to sell REOs within 90 days of listing and are usually willing to negotiate with buyers;
Competitive pricing and today's low interest rates often make an REO purchase more affordable than renting;
Buyers can purchase with 3%, If purchasing with FHA or VA loans, most banks are willing to pay reasonable closing cost;
Qualifying homebuyers can finance both the purchase of an REO and the cost of its rehabilitation through a single mortgage loan;

If you decide that an REO is for you, we'd love to help make your purchase a successful one.

Tips for Selling in This Tough Economy

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Sat, 15 Nov 2008 19:51:40 -0600

Times are certainly tough for sellers right now. And you probably won't sell your house for the amount you would like. The best strategy for now would be to stay put and wait out the crisis. But if you simply have to sell (for a job transfer or financial reasons), there are some things you can do to expedite the process.

The following tips will help you sell your house in these tough economic times we find ourselves in:

I know you've heard it before, but it bears repeating. Pricing competitively is critical when selling a home in this kind of market.
Creating curb appeal in today's tough real estate market is essential in getting your home sold fast. Sellers need every edge they can get in this economy, and presentation goes a long way in this regard. Curb appeal is a buyer's first impression to what's to come inside and with good curb appeal, you set the stage for an inviting place to call home.
The key thing to remember when selling in foreclosure is Time Is of the Essence and hiring a realtor is highly recommended. But don't just sit back be frustrated. Supercharge your Realtor's ordinary real estate marketing efforts by ensuring that they include an aggressive online marketing plan. The key driver of marketing success nowadays is to make sure you get found online.

Did you know that you can sell your house and everything in it through eBay. While this may sound crazy, eBay allows buyers from all over the world the ability to lookup listings, including yours to buy. This effectively opens your market from your small local community into a much wider buyer audience.

Zillow is a lesser known site that is actually cutting staff due to the economy, but it's another great free resource that can help you expand your marketing reach and sell your house quicker. A good Realtor should know of several other online sites to list your house on like Google, Yahoo, Craigslist and Trulia...just to name a few others.

When you're in Foreclosure and have to sell, the faster you sell the better and incorporating these Internet options can often times make it faster.

Speaking of Good Faith . . .

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Sat, 15 Nov 2008 16:21:03 -0600

To help clearly disclose the mortgage process, the federal government is giving their Good Faith Estimate document a makeover. Effective January 1, 2010, the current 2-page form will be replaced by a newly revised standard 3-page version that will include an instructional page.

The biggest plus of this new Good Faith Estimate is that it uses everyday plain English to explain and clearly discloses the key loan terms and closing costs. For instance, in one section titled Loan Summary, the Good Faith Estimate specifically addresses:

What is your interest rate?
Will your interest rate increase?
Is there a prepayment penalty?

The new Good Faith Estimate includes educational elements that identify things like what charges are legally allowed to change at time of settlement and how a mortgage applicant can opt for higher fees in exchange for a lower mortgage rate. In addition, HUD estimates this new regulation will save borrowers nearly $700 at closing.

Even with all of this disclosure, the Good Faith Estimate doesn't address the question of, "Is this the right loan for this borrower?" Unfortunately, the new Good Faith Estimate won't prevent homeowners from choosing a bad loan; it only educates them about the facts of the loan.

That's why it's important to speak with a knowledgeable real estate professional so they can direct you to a trusted mortgage professional to help you meet your real estate mortgage goals. Getting the best terms on a bad loan can be far worse than getting great terms on a loan that fits your needs.

How much impact do you think this will have? Share your opinions.

Century 21 and Coldwell Banker At Risk

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Fri, 14 Nov 2008 23:43:05 -0600

According to Bloomberg's online this morning, 11-14-08

Realogy Corp., owner of the Century 21 and Coldwell Banker brands, is at risk of violating the terms of its bank loans and is trying to reduce debt by almost $600 million and stave off default at the Parsippany, New Jersey-based real-estate broker, according to a regulatory filing dated yesterday.

Realogy reported $209 million in losses over the last three quarters amid the worst housing crisis since the Great Depression.

Realogy is giving its noteholders the option to swap their securities at a discount for as much as $500 million in principal amount of new second lien loans that will mature in 2014, according to a news release dated yesterday- according to Bloomberg.

Investors can exchange their securities for as much as 50 cents of new loans. Owners of Realogy's so-called pay- in-kind toggle notes maturing in 2014 can swap their debt at a rate of 47 cents on the dollar.

Will this real estate giant be the next victim of this slumping economy and if so, what does this mean to us as realtors?

Foreclosure Property Investing Tips

Mykel Martin (Rancho Cucamonga, CA. Real Estate) — Thu, 13 Nov 2008 20:54:32 -0600

With foreclosures continually on the rise nationwide, prices declining, and inventories increasing to historic levels, investors with a discerning eye and knowledge of the foreclosure process can build a profitable portfolio of REOs.

Review this basic advice to buyers who want to become REO foreclosure investors:

Become familiar with your market. The most important tool in your real estate investing toolbox is an intimate knowledge of the area where you plan to invest.
Develop an investment strategy. Do some research to find a successful investment strategy that works in your market, then implement that strategy.
Acquire a foreclosure niche that works for you. Decide what foreclosure buying technique works best with your investment strategy and your strengths as an Investor.
Thoroughly research each deal. Don't incorrectly assume that just because a home is in foreclosure it's a good deal.
Rely on a knowledgeable, trustworthy team. Don't get in over your head trying to tackle all the work involved in a successful foreclosure investment venture flying solo.
Act quickly, but don't be in a hurry. Our current declining real estate market gives you the upper hand as a buyer, but you still need to be positioned to act quickly on acquiring the best deals.