Cameron Novak's Corona Real Estate Blog

First Time Home Buyer Tax Credit Extended!

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Mon, 16 Nov 2009 00:16:18 -0600

Corona home buyers (and sellers) will be happy to know the first time homebuyer program, which was scheduled to end November 2009, has now been extended until June 2010. Homebuyers who may have been searching frantically for a home to meet the deadline will now have a bit more time to capitalize on the terrific $8,000 credit.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Corona Housing Market - Inventory Eye Opener

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sun, 15 Nov 2009 18:20:05 -0600

Don't look now... inventory has dried up in Corona!!!

If you haven't been paying attention to the housing market in Corona over the past several weeks, you're in for a surprise. Inventory has dried up... and when i say "dried", I mean as in Raisin! There isn't even many short sale listings (which are usually last on a home buyer's list of considerations).

Amazing how many people keep propagating the story that there will be a GLUT of foreclosures released to the market which will fuel even farther value drops.... DON'T BELIEVE IT. I've been hearing that one since last year... somehow it never occurs.

It's a great time to buy, and if home ownership sounds good to you... get off the fence and get into a home of your own! Trying to time the housing market is like trying to time the stock market... futile!

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Business Card Photos???

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sun, 01 Nov 2009 01:00:20 -0600

Have any of you ever thought about the fact that real estate professionals are some of the ONLY people who include their picture on their business cards? I've racked my brain trying to think of other people/professionals who include their photo on their business cards, but to no avail.

Why do you think real estate professionals are practically the only ones with pictures on their cards?

Cameron Novak
Southern California Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Profile Photos on Active Rain

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sat, 26 Sep 2009 18:28:25 -0500

I'm glad AR is now accepting HD photos for the profiles, but wouldn't it be terrific if they gave us a bit more control over the size or shape of the photo. After all, one of Active Rain's strong suits is showing the world how different each of us are. I'd like to have a personal favorite photo uploaded, but it doesn't fit the format allowed by AR.

Just venting.

Sierra Del Oro Home for Rent in Corona, California

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Fri, 14 Aug 2009 02:17:51 -0500

Description

Gorgeous home in Sierra Del Oro, just 2 minutes from Orange County!!! Open, bright floorplan. Granite kitchen countertops with center island and stainless steel appliances. One bedroom and bathroom downstairs. Upgraded tile and wood floors throughout this home. Refrigerator, washer, and dryer is included for the term of your stay. Large private backyard with a terrific view of the Cleveland National Forest. Available September 1st. One or two year leases considered.

Features

Bedrooms:	4
Bathrooms:	3
Parking Spaces:	3
Year Built:	1994
Subdivision:	Sierra Del Oro
Lot Size:	9147
Garage Size:	3
School District:	Corona/Norco Unified
Square Footage:	2700
Agent Name:	Jack Torres
Broker:	The Homefinding Center
MLS #:	k09088075

Location

1420 San Ponte Corona CA 92880

vFlyer Id: 2713903

Sierra Del Oro, California Real Estate Update

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Tue, 04 Aug 2009 00:17:25 -0500

Real Estate in the Sierra Del Oro neighborhood of Corona, California is RED HOT right now!

The terrific prices coupled with some of the lowest interest rates in history have enticed many homebuyers to jump off the fence and into home ownership. I'm sure that Sierra Del Oro's central location to Orange, Riverside, San Bernardino, and Los Angeles Counties doesn't hurt either. There are many more buyers than available homes right now. This means that each time a new listing becomes available, there are multiple buyers bidding to purchase the home. If you're searching homes for sale in Sierra Del Oro, be prepared to act quickly when you see the right home hit the market. The real estate agent you choose should have a good grasp on the homes for sale, as well as homes that may not be for sale yet, but will soon be added to the local multiple listing service.

If you see a home that interests you, and would like an expert opinion on the expected appraisal value, you may contact an agent at The Homefinding Center which is located in the heart of Sierra Del Oro.

If you were not previously aware, Sierra Del Oro is home to Prado View Elementary School... a highly desired "California Distinguished School".

If you need a Sierra Del Oro expert to assist you, feel free to call me anytime,

Cameron Novak
Sierra Del Oro Agent
The Homefinding Center^TM
Corona, California
951-212-7479

Donate to The Foundation for Community and Family Health in Corona, California

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Mon, 03 Aug 2009 14:46:00 -0500

Please help our local kids in need by donating to The Foundation for Community and Family Health today.

They regularly help families in need by providing hygiene products, clothes, and books free of charge. Right now, they are in special need of the following items: Soap, Shampoo, Deodorant, Toothpaste, Laundry Soap, Diapers, Clothes (for children 3-18 years of age), and books.

You may bring or send your donation to them at:

The Foundation for Community and Family Health
815 W. Sixth Street, Suite 110 – Corona, CA 92882
Located in the Historic Civic Center (Sixth/Vicentia)
951-270-0522
A 501 (c)(3) non profit organization.
Tax ID #33-0071575

I'm sure they can use all the help you provide,

Cameron Novak
Corona & Riverside Real Estate Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Corona City Council Meeting

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Mon, 03 Aug 2009 14:18:14 -0500

Corona City Council Meeting, August 5th

Please join us this Wednesday at the City Council Chambers @ 400 South Vicentia, Corona, 7pm for the Corona City Council Meeting.

We'll be discussing city Ordinance No. 3005, Ordinance No. 3006, Ordinance No. 3007, Ordinace No. 3008, and Ordinance No. 3009. We'll also be discussing Corona Community Development Block Grant for job creation by Vantage Vehicle International, Inc., as well as several other pressing items relating to the City of Corona.

Hope to see you there,

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Boxing Night at Omega Products in Corona, California

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Fri, 10 Jul 2009 02:01:39 -0500

Omega Products International - July 17th FIGHT NIGHT!

Once again, Thompson Boxing Promotions will be holding a fight night in Corona at the home of Omega Products International. Come out and support building local support for sporting events such as this in our city.

The event will take place on July 17th with the first bell at 7:45pm. Tickets will be sold for $30, $45, & $75 and can be purchased by calling 951.935.0900.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Corona - Stage 2 Water Alert

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sat, 04 Jul 2009 02:56:16 -0500

Corona - Stage 2 Water Alert

Beginning July 31, 2009, the following conditions will be in effect throughout the city of Corona...

No watering between 10am and 8pm
Vehicles may be washed with a bucket and auto shut off hose valve
Allowing water to run off property is prohibited
You may not use water to wash down hard surfaces (such as driveways or sidewalks)
Restaurants may not serve water to patrons unless specifically requested by patron
Odd numbered addresses may only water on Saturday, Monday, and Wednesday
Even numbered addresses may only water on Sunday, Tuesday, and Thursday
Government agencies DO NOT have to comply with this rule and may water on any day they choose
Sprinklers are only allowed to run up to 20 minutes per station

Enjoy the new rules!

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

July 4th and Public Safety in Corona, California

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Thu, 02 Jul 2009 01:29:13 -0500

Fireworks in Corona and Safety for our citizens

It's almost July 4th and I want to bring the safety of our men, women, and especially children to your attention on this very popular holiday. When you're enjoying the festivities of the day, please respect the safety of others by observing a fireworks show that is sanctioned by the city. Refrain from lighting your own fireworks as they are dangerous, and can cost you $1,000 per fine!!!

Please enjoy the Annual 4th of July Celebration at Santana Park where admission and the fireworks show is FREE. Firework program will start at 8:30pm.

See you there!

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

New Farmer's Market in Corona, California

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Thu, 02 Jul 2009 01:21:41 -0500

Short Sales and seller perceptions

Farmer's Market in Corona, California

Don't look now folks... we have a Farmer's Market in Corona! Just when you thought this city couldn't get any better, they go and surprise us again.

You'll be able to shop for fresh picked produce at The Corona Certified Farmer's Market on Saturdays from 8:30am until 12:30pm at the Main Street Marketplace (corner of Main and Rincon).

I'll be there eating and shopping! Hope to see you there soon.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Corona Short Sale

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sun, 28 Jun 2009 20:42:05 -0500

Brand new Corona Short Sale listing in the community of Dos Lagos. Year built 2007. 1,825 square feet. 3 bedrooms. 2.5 bathrooms. Call for more information.

Price $269,888

Cameron Novak
Corona Short Sale Agent
The Homefinding Center^TM
Corona, California
951-212-7479

I am an experienced Short Sale Agent who regularly assists buyers and sellers in Corona & Riverside, California. I have agent contacts in other surrounding cities which I can refer to you, but I believe in working with ONLY those sellers I can help most effectively. If you own in Riverside or Corona, please give me a call... I can help.

Corona Relay For Life

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Fri, 26 Jun 2009 15:50:36 -0500

Corona Relay For Life - Corona City Events

Corona Relay For Life

This Saturday from 9am through Sunday at 9am, Corona's Santana Regional Park will be host to the 10th Annual Corona Relay For Life which raises money for the American Cancer Society. Previous events had been held at Santiago High School but were moved as it was decided that Santana Regional Park would be a better venue for the event. The event regularly raises over $250,000 and last year had a total of over $300,000!

Please consider participating in the event, or stopping by with a donation.

Cameron Novak, Realtor(R)
Corona & Riverside Short Sale Agent
The Homefinding Center^TM
Corona, California
951-212-7479

Active Rain burning the agents that create it's success???

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sat, 13 Jun 2009 04:46:17 -0500

Anyone else notice that AR is methodically renegging on it's promise to provide city sponsorship to the agent that sponsors the most communities within that city?

That's right... I just received an email that Active Rain is removing my city sponsorship even though I've sponsored 9 communities in my city of Corona SINCE THEY'VE BEGAN OFFERING THE SPONSORSHIPS

I sponsored the communities ONLY because of Active Rain's promise to provide the city sponsorship. Their integrity is in serious jeopardy with these actions, and I don't think the agents that made AR what it is will stand by and allow AR to harm them.

I'll keep everyone posted on this site as well as my other blogs. Hopefully they will come to their senses and contact me to correct this issue promptly.

Cameron Novak
Corona Real Estate Agents
The Homefinding Center^TM
Corona, California
951-212-7479

What is the difference between a "Recourse" and "Non-Recourse" mortgage loan?

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Thu, 09 Apr 2009 03:08:29 -0500

This is one in a series of blog entries dedicated to Short Sales and the Short Sale process from the homeowner's perspective.

Many home owners ask, "What is the difference between a RECOURSE and NON-RECOURSE mortgage loan?". This is not only an excellent question, it is more pertinent now than it ever has been.

A "Recourse Loan" is one in which the lien holders have the legal right to pursue a borrower for any deficiency that may have arose from the sale of the asset (home). This can be extremely detrimental to one who may have a recourse loan, as the lienholder may pursue other assets to satisfy the debt.

A "Non-Recourse Loan" is one in which the lien holders do not have the legal right to pursue a deficiency that may arise from the sale of a collateral asset. In California, this typically pertains to first trust loans.

I am an experienced Real Estate Agent who regularly assists sellers in Corona & Riverside, California. I can also help in other surrounding cities (Mira Loma, Norco, Lake Elsinore, Wildomar, Chino Hills, etc.). If you own in Riverside or Corona, please give me a call. Please note: I am not a tax specialist or attorney and do not claim the above to be absolutely factual. Please verify any information PRIOR to acting on the above blog information.

Cameron Novak
Corona Real Estate Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Do I have to be behind on my mortgage payment to qualify for a Short Sale?

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sat, 04 Apr 2009 12:37:06 -0500

This is one in a series of blog entries dedicated to Short Sales and the Short Sale process from the homeowner's perspective.

Many home owners ask, "Do I have to be behind on my mortgage payment to qualify for a Short Sale?". While many homeowners (and even real estate agents) believe that you DO have to be behind (delinquent) on your mortgage payment to have the bank consider a short sale, the fact is that you CAN get a short sale approval WITHOUT being delinquent.

Many banks will indicate that they will not approve a short sale while the owner is current, but I believe this is an attempt at testing the owner's desire to keep his/her credit intact. In this situation, it is important that an experienced short sale agent represent the homeowner in the negotiation process. Many experienced agents know how to best handle the situation. Additionally, many have a book of regular contacts at various banks, which can assist in speaking with the decision makers at those banks.

I am an experienced Short Sale Agent who regularly assists sellers in Corona & Riverside, California. I can also help in other surrounding cities (Mira Loma, Norco, Lake Elsinore, Wildomar, Chino Hills, etc.) which I can refer to you, but I believe in working with ONLY those sellers I can help most effectively. If you own in Riverside or Corona, please give me a call.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Short Sale Blog Series - Foreclosure vs. Short Sale

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Fri, 03 Apr 2009 23:08:31 -0500

Foreclosure vs. Short Sale

This is one in a series of blog entries dedicated to Short Sales and the Short Sale process from the owner's perspective.

Many home sellers ask, "What is the difference to my credit report depending on if I choose a Foreclosure or a Short Sale?". While there are many factors involved in your credit report and FICO score, the simple answer is that a foreclosure in any form is DEVASTATING to your credit report. In addition to losing up to 3 times as many FICO score points, a seller will not qualify to use FHA financing again for 5 years. Conversely, a seller who opts for a short sale can in some cases show little or no damage to the credit score (depending on how the sale is reported), and will then be able to apply for FHA financing after just 24 months.

The last transaction where I actually heard about the difference in credit score was just last week. The seller had a pre-short sale FICO score of 730. After the short sale had recorded and been reported to the bureaus, the seller had lost only 60 points in credit score and still had a respectable 670.

As a general rule, if a seller who opts for a short sale keeps all other accounts current and continues to use credit as they did prior to the short sale, he/she can expect to be somewhat close in FICO score to pre-short sale score, within 12-15 months.

I am an experienced Short Sale Agent who regularly assists sellers in Corona & Riverside, California. I have contacts in other surrounding cities which I can refer to you, but I believe in working with ONLY those sellers I can help most effectively. If you own in Riverside or Corona, please give me a call.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Another Tax Increase for California Residents

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Wed, 01 Apr 2009 01:17:47 -0500

Don't look now Californians, tomorrow brings yet another tax increase (in addition to those gifted to us by Barack Hussein Obama). Starting April 1st, state sales tax increases 1% statewide and over 1% in a few additional cities.

Los Angeles' sales tax will now be over 10% on taxable purchases!!!

I'll definitely be looking for a way around the sales tax the next time I purchase an automobile. Maybe I'll take up residence in Oregon for the required 90 days (where there is NO sales tax, because the government isn't going crazy spending the taxpayers $$$).

Every time I turn around, I'm getting taxed and taxed again.

ENOUGH!!!

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Sierra Del Oro, 1st Quarter 2009

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sun, 29 Mar 2009 03:14:51 -0500

Sierra Del Oro, Corona, California Update

As you may have noticed in the first 3 months of 2009, buyer activity in Southern California is beginning to increase noticeably. Inventory of available homes in Sierra Del Oro is at an extremely low level, which lends to the increased chance of multiple offers on listed properties (especially those homes which are a good buy).

Good deals are still within reach, but with the increased buyer activity, it is more important to keep up on new listings on a daily basis. I send out daily notices of new listings in my clients' areas of choice upon request... this helps the active buyers find the best deals, and allows us to write an offer PRIOR to competition from other agents.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Are you acting in the best interest of your client?

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Sat, 28 Mar 2009 02:44:55 -0500

I'd just like to say a few words about always acting in your client's best interests. Many agents I've seen over the years are more concerned with their paycheck, than with the best interest of their clients.

Examples of this are steering clients to a certain house because the commission is higher than other listings (while in itself, this isn't necessarily wrong... the problem comes in when the agent begins to tell the client that the home in question is a better buy than the others when in fact he/she is just saying that to generate interest in the home).

Another example would be if a client brings up a home they have great interest in (maybe that they've found online), and the agent knows the home to be in an undesirable neighborhood... but doesn't tell the client this because he/she can already see their commission check from the closed escrow.

I'm here to tell you that if you always consider your clients your top priority, you'll benefit tenfold in the long run. Believe it or not, they can read you like a book. If your intentions are not completely honorable, don't think it's your little secret.

I hope this gives everyone a bit of food for thought.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

Sierra Del Oro, Corona, Neighborhood Update for March

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Fri, 27 Mar 2009 01:52:48 -0500

Sierra Del Oro, Corona is now brimming with buyers. Inventory is down. Many homes are now in escrow at amounts OVER list price. Interest rates are at historic lows. Now is an excellent time for first time, or investment buyers to pick up a jewel in west Corona... just in time for the next price run-up.

Banks are getting much more reliable with Short Sale approvals (as long as the agent handling the Short Sale negotiation is experienced with Short Sales).

If you're thinking of buying a home in Sierra Del Oro, join the other savvy buyers who see the terrific timing and potential in this neighborhood just minutes from Orange County.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479

RESPA Regulations

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Thu, 26 Mar 2009 01:22:25 -0500

RESPA Regulations causing the buyer to suffer?

While I agree with with RESPA that you shouldn't funnel clients to a particular provider (lender, title company, etc.) solely for profit, I also believe that if you're referring a client to a provider which you feel is the best and there is also some benefit to you or the client... that should be o.k. as well. Unfortunately, RESPA doesn't see the light.

For instance... My brokerage has a lender (the best we can find) work in The Homefinding Center on the weekends. This is the busiest time for us and our clients frequently need assistance from a lender. We refer those people to the agent we have on site. We believe this person is the best we can provide the client. And while we're referring to the best provider available, RESPA doesn't allow us to gain anything from the referral (not a referral fee, not a commission split, nothing).

I've recently been considering several other options, which may not allow us to have the best option available for the client, but which will help pay the brokerage costs LEGALLY.

Should I provide service which is less than the best so I can gain monetarily (and legally)??? or should I provide the best service and have our business suffer as a result of a flawed RESPA code?

Is there another profession which doesn't allow referral fees to related professionals? Doctors? No. Attorneys? No. Accountants? No. Why the unrealistic expectations of real estate professionals? Why does government (the most trustworthy of our species) doubt our honor in referring providers to our clientele? Do we all have to suffer for the transgressions of a few? Sounds like the democratic process empoweing me again... not.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479
Email Cameron Now

MetLife Gets 2009 Bonehead Award

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Thu, 26 Mar 2009 00:43:58 -0500

MetLife Home Loans said WHAT?

You have got to be kidding! I have a buyer in escrow using Met Life Home Loans to supply their mortgage loan. MetLife informed the buyer that MetLife, and not the buyer, will choose the appraiser. Two weeks later the appraisal rolls in. The appraisal value was exactly what we needed. Great news right? Wrong! MetLife (the company who ordered the appraisal from one of their own appraisers) didn't like the value and ordered a desk review. After another week, the desk review came back and basically said the appraisal isn't worth the paper it's printed on. Additionally, they demanded a second appraisal. Then another 10 days goes by before we can get the second appraisal back. By this time, we were almost three weeks past our scheduled close of escrow, due solely to the negligence of MetLife Home Loans.

In a nutshell, MetLife Home Loans chose to use their own appraiser and then said it was worthless. I was served a cancellation notice by the seller yesterday due to the delays MetLife caused to the process in demanding a second appraisal because the first

If that doesn't blow you mind, I don't know what will.

I'm still very disappointed that the mortgage representative for MetLife didn't get more involved to speed up the process after his company dropped the ball with the first appraisal. It wouldn't surprise me if my buyer chose to file a lawsuit for damages. The sole reason the transaction went down the tubes is MetLife refusing the appraisal from the appraiser they demanded the buyer use.

OK, Who's next up on the soapbox? It's all yours.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479
Email Cameron Now

Closing Escrow

Cameron Novak - Featured Short Sale Specialist (The Homefinding Center) — Wed, 25 Mar 2009 01:02:09 -0500

I recently saw a real estate movie called "Closing Escrow" and thought I'd share. It's a B movie centered around three couples in their quest to purchase a new home. Each couple is working with a different (and I mean DIFFERENT) real estate agent. It is pure comedy and can be appreciated by agents and buyers alike.

I saw the movie online with my Netflix membership. I don't know if it's a mailout rental, but you can watch it under the "Watch Instantly" tab. After there, search "Closing Escrow" and you're ready to go.

Let me know what you think... I'm interested to hear from you all regarding your perspective on this movie.

Cameron Novak
Corona & Riverside Short Sale Agents
The Homefinding Center^TM
Corona, California
951-212-7479
Email Cameron Now