Tax Time Again: Ugh! - 03/31/09 09:13 PM
Before I begin to write the blog, I am going to do my traditional disclaimer: I am not an accountant. The purpose of this blog is for FUN and for educational purposes, and anyone facing the situations I describe should consult an accountant.
Okay . . . now that I got that off my chest, here I go.
It is tax time again, but this year I am ready. I am organized. I have all of my documentation in order. I am so confident that anyone who wants to can feel free to challenge me. Why am I finally so organized?
… (6 comments)

2009 Housing Stimulus Laws & the Impact on Short Sales - 03/26/09 11:02 PM

On February 17, 2009, President Obama signed into law a $787 billion economic stimulus package. This gargantuan-size piece of legislation, entitled the American Recovery and Reinvestment Act of 2009 was over 1000 pages long!
Here are some of the major housing stimulus provisions included in the Recovery Act:
1. A first time home buyer refundable tax credit capped at $80002. Increased FHA, Fannie Mae, and Freddie Mac maximum conforming loan limits from $625,000 to $729,7503. A $275 billion Making Home Affordable Program that includes a Home Affordable Refinance  and a Home Affordable Modification component
The Home Affordable Programs are great; … (3 comments)

Good News About Short Sales and Agent Commissions - 03/26/09 11:01 PM
In case you hadn't heard the good news . . . here it is: No More Commission Reductions for Fannie Mae Short Sales!
But, what does this mean? And . . . how could or would it impact the short sale in process right now?
As the largest sources of home financing in the United States, Fannie Mae (FNMA) and Freddie Mac (FRE) are privately owned by shareholders, yet they are congressionally authorized and regulated by HUD. You see, when your client's mortgage statement comes from Countrywide, for example, this does not necessarily mean that Countrywide holds the note on the … (5 comments)

Oh, (*&&%*! We Are Short to Close!!!! - 03/26/09 10:59 PM

As agents, we haven't spent too much time scrutinizing the estimated closing statements. We usually leave that work to our escrow officers. Unfortunately, now these statements have become significantly more important than they used to be.
Why? Well . . . the banks request these as part of the short sale package. The short sale lien holders want to see their bottom line. How much money are they going to net? How many cents on the dollar will they be forgiving?
Preparing the HUD-1 for the seller's first and second lien holders is truly an art form. This is primarily … (7 comments)

 
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Escondido Real Estate - North San Diego County Homes

Melissa Zavala, Broker

Escondido, CA

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Broadpoint Properties

Address: 220 West Second Avenue, Escondido, CA, 92025

Office Phone: (760) 839-3838

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Broadpoint Properties



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1
$199,000
1 br, 1 ba, 623 sqft
Very unique unit in La Jolla - this place has just about everything! MUST see...
1
$300,000
4 br, 3 ba, 2,598 sqft
This custom home has views all the way to the ocean on clear days. Sitting on...
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$280,000
2 br, 3 ba, 1,341 sqft
Minutes to the beach and shopping. Built in 2005, this home is in great condi...
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$320,000
4 br, 3 ba, 2,563 sqft
This home is BEAUTIFUL!! A lot of TLC went into the care/upgrade of this home...
0
$249,900
2 br, 2 ba, 832 sqft
Turn key condo in prestigious complex rarely on the market. Incredible wester...
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$349,000
2 br, 2 ba, 1,154 sqft
Lovely unit with hardwood floors in living, dining and hallway. Balcony off d...
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$100,000
2 br, 2 ba, 1,395 sqft
Desert landscaping with palms and saguaro cactus in front and no neighbors in...
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$169,000
2 br, 2 ba, 1,154 sqft
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$220,000
3 br, 2 ba, 1,598 sqft
Nice private setting. Single story home with plenty of room for RV, boat and ...
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$299,900
Own this Unbelievable, one of a kind quiet slender wonderland amongst the hug...
1
$120,000
2 br, 1 ba, 757 sqft
2 story house, pergo flooring in living room, and tile flooring in kitchen an...
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$677,220
3 br, 2 ba, 1,915 sqft
This home has recently been upgraded. You will not find another home like thi...
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$699,900
4 br, 3 ba, 2,589 sqft
Gorgeous turn key home in highly acclaimed Poway School District. Southern or...
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$268,000
4 br, 2½ ba, 2,006 sqft
Attractive 4 bedroom, 2.5 bath, 2 story home located in desirable Murrieta. H...

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