Fran's Crescent City Real Estate Blog

Thank You Active Rainers for a Wonderful and Successful Year! Happy Thanksgiving!

Tue, 24 Nov 2009 00:07:24 -0600

I needed to decompress today. For some reason putting up my Christmas Tree sounded relaxing...I don't know why. It was a relaxing, enjoyable and wonderfully decompressing experience that melted away the stress that real estate tends to create in my life.

As I put individual ornaments on the tree I strolled down memory lane remembering the significance of many of the ornaments. Many of them my children had made over the years, others were gifts from special friends, many were given by my husbands students and there were those my husband and I purchased that we felt had meaning for our family.

I was a little sad at first that my kids are grown changing Christmas quite a bit, but it's exciting the way my children love each other, stay in touch and so look forward to coming home to be together over the holidays. Also, my grandchild is bringing back the excitement that young children bring to the holidays and in 2010 I will be blessed with another Gatti grandchild.

I counted so many blessings today while putting up my tree. Several of the ornaments reminded me of the very lean years when we were lucky to have one gift for each child under the tree. It's good to look back at where we've been. It gives me an appreciation for what I have, and where I am now. It also reminds me that it's the relationships with friends and family that makes the holidays fun and special.

I don't usually put my tree up until the day after Thanksgiving, but felt motivated to put it up early and start celebrating. I have so much to be thankful for. Active Rain has been a big part of my success this year and I would like to say thank you to each and every Active Rainer. May God bless you with every good and perfect gift this holiday season.

Happy Thanksgiving from the Gatti Family

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Credit Report Monitoring Sites Make Claims Of Free Reports- Read The Fine Print.

Mon, 23 Nov 2009 22:53:49 -0600

Credit report monitoring seems like such a good idea, but take a look at the following post. I'm going to take Katerina's suggestion rather than sign-up for a monitoring service. I've become quite cynical and leary about signing-up for anything anymore. Once the monthly fee begins, just try getting it to stop.

Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):

Credit Report Monitoring Sites Make Claims Of Free Reports- Read The Fine Print.

I am sure you know about those two guys you see singing that song about how they should have used Free Credit Report .com.
What you may not know is that there are over 10,000 complaints against Free Credit Report.com to the Better Business Bureau.

Free Credit Report.com is run by ConsumerInfo.com and is owned by Experian who is one of the big credit bureaus.

Well, it is not as free like the commercial leads one to believe.

In fact, when you go to their website- there is a big yellow box that tells you to, "click here".
But then in the side on the left is the tiny print that this free credit report is free but you are agreeing to enroll in their credit monitoring service which costs $179 per year. You have to cancel the enrollment within seven days in order not to be charged.
But many of the complaints come from consumers who say that they were still billed even after canceling their enrollment.
Of course a lot of the people who filed complaints said they did not see the tiny print with the billing disclosure.

Always, check all the fine print before you agree to anything for free. It just may not be so free after all.

Most people don't need the credit monitoring services according to Consumer Reports ®.

You can order a free report once a year from the three major credit bureaus: Experian, Equifax and TransUnion.
You can also go to AnnualCreditReport.com to order your once a year free credit report from all three bureaus.

The best way to monitor your credit is to order one free credit report from one of the credit bureaus every four months. That way in a year's time you have received 3 free credit reports, one from each bureau and can easily monitor your credit this way at no cost.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Bad Customer Service...We're not going to take it anymore!

Fri, 20 Nov 2009 23:11:43 -0600

Direct TV is a prime example of bad customer service and what is wrong with so many companies and their customer service policies. They want your money and lock you into a contract, then don't perform and won't let you out without paying an early cancellation fee. Could you see me doing that as an agent? Lure in the unsuspecting client, get them under contract, then go on vacation and still get paid?

How about giving good customer service so your customer doesn't want to back out of their contract? Not that's a novel idea - I am sitting on my couch staring at the Direct TV logo bounce around my screen because that is all my TV will get right now. We had a wind storm last night and the TV stopped working. We have had Direct TV for 2 months and so far I am not impressed, but less so now that I called customer service and was told we would have a technician here in one week. What? It's Thanksgiving week next week, I have a house full of company coming all of whom are football fans and no TV?

All right then, I'm cancelling and going back to Charter. Say what you want about Charter, but if I ever had a problem in the 15 years I had them, they came right out to fix it. Direct TV said if I cancel my service it will cost $400 in early cancellation fees. I said that is crazy because I do not have the service I am paying for. The supervisor said she understands how I feel at least five times. I told her not to say that again and that I doubted very much she understood how I felt because if she did, she wouldn't keep saying that.

How I feel is this, I'm pis--d off. if I gave that kind of customer service I would never keep a client and never be paid. I have to perform every minute of evey day, work hard, be nice to people who may or may not deserve it and make all the problems better or not get paid and Direct TV, B of A, AT&T and so many others can give rotten customer service, not provide the product the customer is paying for, in my case TV, and not only still get paid, but receive a huge fee if the customer cancels out of shear frustration. What is wrong with this picture?

I am so frustrated with this kind of rotten customer service. The IRS says I owe them money, which they never sent a computation page showing why. My accountant says I don't owe it, everyone I have talked to at the IRS says they do not know why I owe it, it doesn't make sense to any of the people I've talked to on the phone, however I received a notice saying if I don't pay the $1400 in 30 days, they are going to put a levy on my home. What is wrong with this picture?

Wake up and smell the money folks. If you want to get paid, then perform. Stop thinking consumer's owe you because you have them locked into a contract. WE AREN'T UNREASONABLE, WE ONLY WANT WHAT WE ARE PAYING FOR! If you want to keep us as clients or customers, then give us the service we deserve (and are paying for BTW) so that we want to stay with you. I'm calling Charter tomorrow and getting my service again.

I'm beginning to think like so many people I have talked to over the last few months who are sick and tired of being a number in a grid and have decided to let their credit go and stop paying. There is something freeing about letting go of the "save my credit or die" mentality...and then I woke up.

We're not going to take it anymore...

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Housing Market Predictions: We've Heard Them All, Except the One That Matters ... Yours!

Thu, 19 Nov 2009 13:29:01 -0600

This is an excellent post on how the varying degree of market predictions mean to you, the consumer. Enjoy and please leave a comment.

Fran

Via Paul Slaybaugh, Scottsdale AZ Real Estate (Realty Executives):

Housing will not fully recover until 2012. That is when the glut of backlogged foreclosures is expected to be phased out of the market.

Housing will recover by the end of the year. Now that inventory has contracted to average levels for what constitutes “normal” regional markets in major metropolitan areas where prices have declined as much as 50% in the past three years, and month to month sales have steadily increased over the past six months, demand has realigned with supply to arrest the freefall in values.

The housing recovery began in early 2009. Median price increases in some markets indicate that even while many pundits were openly wondering when the bottom of the market would appear, it was actually several months in the rearview mirror.

Many factors and variables, and just as many divergent opinions to boot. So many, in fact, that you almost have to choose amongst the purported experts to determine whether you fall in the half empty or half full category. Job rates, interest rates, unemployment rates … psychiatric rates, for spending too much time poring over the data and extrapolations will render one in need of a head exam.

Overanalysis 101.

You don’t need flow charts to tell you where things stand at the moment. You won’t need a market report to tell you when things are better.

You’ll know the market has recovered when you no longer dread the trip to the mailbox or evening phone calls.

You’ll know the market has recovered when you can confidently re-enable automatic bill pay from your checking account instead of prioritizing which ones get paid this month by how far past due each is.

You’ll know that the market has recovered when you don’t have to decide whether you or a loved one is really ill enough to warrant the cost of a trip to the doctor.

You’ll know the market has recovered when you no longer have to explain to the kids why you can’t go to the zoo or stop for ice cream today.

You’ll know the market has recovered when sleep comes as readily as worry formerly did.

You can stop looking to someone else to tell you when the market is fully healed as the housing implosion is the root of these greater ails. It’s far easier to take stock of your own life, and those of your friends and family, to see where along its arc the pendulum is currently settled. As the finance/housing sector dragged our economy into the muck, it will again lead us back to dry ground. No need to watch the stars for celestial clues. Just do what no pundit can and watch your own life for improvement. You’ll know housing has recovered when both of your own feet are planted squarely on terra firma.

Most importantly, beware the forecasts that don’t jive with your own internal index. Those who would adamantly assert the rosiest or bleakest prognosis are likely more interested in influencing your behavior than in your well being.

“Buy now before prices shoot back up!”

“Sell now before prices erode further!”

When you stop listening to yourself, you risk placing all of your trust in the megaphones of those who have a vested interest in your fear.

Is the housing market improving? Is now the time to buy? The time to sell? For months, I have been asked to provide the answers to these questions. I have dutifully provided my vague predictions with the obligatory caveat that no one truly knows how a free market will behave from one day to the next. I realize, though, that in supplying answers to those who actually give the market context, that we have all been looking at this thing from the wrong perspective. It makes zero difference where I think the market stands at present, and where it is headed. The very consumers who ask me these questions are the ones who will ultimately provide the truth or fallacy to my various hypotheses. So I turn the tables and ask the consumer, the actual authority, the very same question.

“What is the state of the Real Estate market?”

Feel free to comment here or send me an email with your thoughts. Looking for opinions from consumers and laypersons, not agents or financial wizards (all comments welcome, though). I will post the results in a follow-up piece.

Mr. Homeowner & Mrs. Homebuyer, the floor is now yours.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Smith River, Ocean View Real Estate at an Affordable Price!

Tue, 17 Nov 2009 00:42:14 -0600

Coastal View Drive parcels 4 sale with Ocean & River Views

Lot A and B Coastal View Drive, off Oceanview Drive, Smith River, CA 95567 View Map

Ocean AND River Views - Have your very own view of the California coastline, the Pacific Ocean and the Mouth of the Smith River right from your home. These two, 2-acre parcels are priced to sell and come with spectacular views that are in short supply in California, especially at this price. Building sites are cleared, underground utilities to lot line, public water with septic approved. Give Fran Gatti, 707-218-8162, or Rose Peasley, 707-954-5024, a call for more information regarding these parcels. Thank you.

Details

Asking Price:

$199,000

MLS:

62257

Lot Size:

2 acres

Subdivision:

Coastal View Drive

Contact Info

Fran Gatti
Realtor

Main 707-464-5400
Cell 707-218-8162
Dir 707-218-8162
Email | Website

All information is deemed reliable but is not guaranteed.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Crescent City Fed Ex Driver Gives Awesome Service

Mon, 16 Nov 2009 23:30:31 -0600

My Crescent City Fed Ex driver is the best there is and just one more reason I love living in a small town.

First off, I don't know his name, but I will find out and put it in this post. He is awesome. My husband and I had a delivery that needed a signature and it was impossible for either of us to be home from work, so he delivered the package to my husbands school (he's a teacher) during my husbands lunch break. How convenient is that?

Today, I was at work and noticed the Fed Ex truck in our parking lot. I had a fax cartridge ready to be sent back to the manufacturer and took it outside to hand to the driver and he said, "I saw your car in the parking lot and thought I would deliver this package to you at work, so I didn't miss you at home."

I defy anyone out there to tell me they get as good of service from their driver. Go ahead and try.

Yep, that's what I thought. Only in a small town folks.

For affordable real estate, check out my website at www.frangatti.com. Thank you.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Crescent City - 3/2 MH in Park with Detached Shop & $3000 Carpet Allowance

Mon, 16 Nov 2009 00:15:43 -0600

Check out the Virtual Tour. Click on Additional Photos for lots of pictures of the shop and home.

Fran Gatti | RE/MAX Coastal Redwoods | frangatti@remax.net | 707-218-8162

1661 Northcrest Drive #14, Crescent City, CA

3/2 Manufactured Home in Park with Large Shop, $3000 carpet allowance

3BR/2BA Manufactured

offered at $65,000

Year Built	1988
Sq Footage	1,560
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Uncovered spaces
Lot Size	Unspecified
HOA/Maint	$315 per month

DESCRIPTION

Motivated seller offering $3000 carpet allowance, sale includes large, newer refrigerator, dishwasher, oven/range. Indoor laundry with storage and pantry area, split bedrooms with 2 full bathrooms and large shop with storage galore. Brand new roof only months old, two sources of heat: wood stove and monitor heater. Thermo pane windows. Shop tools negotiable. Shop includes: 400 amp service; 215 volt connections plus air connection on all 3 walls and thru out shop. 14 inch power planer plus power hack saw; 2 air compressors - one is an industrial shop model and the other is a portable job-site model, industrial HVLP paint system plus guns. You have to see to appreciate. Call Fran today, 707-218-8162, for a showing and ask me about financing.

see additional photos below

PROPERTY FEATURES

- Fireplace	- High/Vaulted ceiling	- Walk-in closet
- Living room	- Dining room	- Dishwasher
- Refrigerator	- Stove/Oven	- Microwave
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard

OTHER SPECIAL FEATURES

- Large detached shop

- Virtual Tour Link: http://www.realestateshows.com/451401

ADDITIONAL PHOTOS

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

Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

frangatti@remax.net

707-218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 15, 2009, 8:58pm PST

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

First Time Home Buyer and Move-Up Buyer Tax Credits

Sun, 15 Nov 2009 21:03:36 -0600

Here is Information on the First Time Home Buyer and Move-Up Buyer Tax Credits -

$8,000 First-time Home Buyer Tax Credit at a Glance

The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
The tax credit applies only to homes priced at $800,000 or less.
The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $6,500.
The tax credit applies only to homes priced at $800,000 or less.
The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Life Inside the Pressure Cooker of Real Estate

Fri, 13 Nov 2009 23:51:35 -0600

What a week in the pressure cooker of real estate!

I was waiting for a lunch date today when a client called. My last phone conversation with this client ended on what he thought was a negative note and he called to say that he appreciated the hard work I was doing to sell his listing and that he valued my efforts. That's all it took for the tears to flow. A week of frustration came out right there in the restaurant. My lunch date showed up, saw my face and thought someone had died.

My frustrations include several escrows disrupted by appraisal issues. One escrow, only 2 days from closing, had a desk review of the appraisal that came in 15% below the purchase price!!!! The mortgage broker, dumbfounded, talked with the underwriter who admitted the desk review was done by someone who used "public records," had no access to our MLS or comps and was not a licensed appraiser.

The underwriter, not wanting to disrespect the company that does their desk reviews, refused to deal with this problem. We are working it out, but not without A LOT of frustration and nail biting.

In another instance, I had a client let me know she decided to list with another office because "a friend who knows a lot about selling houses told her that it was a good idea to use the other office." Ouch! I did let her know I have sold more listings so far this year than any other agent, but I know how convincing friends can be, so gave up on trying to win her back. You win some, you lose some.

I could go on with one hurdle and disappointment after another, but what's the point. Every real estate professional is running up against trying situations that call for diligence, perseverance, ingenuity and prayer, so I wouldn't be telling you about anything you probably haven't experienced yourself.

Along with the frustration, there has been a lot of joy. I had the honor of handing the keys to a first time home buyer last week. A lovely lady who purchased her first home and was beyond happy and thrilled with her purchase. I had the pleasure of giving keys to another first time home buyer this week who had a huge smile and thanked me profusely and I closed today on a home for a couple relocating from out of the area. All were happy with their home purchases and thanked me for my hard work.

My job is the greatest. I love it most of the time. Even when it's frustrating, difficult and I'm dealing with people who make no sense (desk reviews [with no comps] of appraisals done by licensed appraisers), I focus on the fact I am learning how to be a better professional with each hurdle I maneuver.

Have a wonderful weekend and find time to decompress.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Gasquet, CA Manufactured Home for sale with River Access!

Wed, 11 Nov 2009 23:58:25 -0600

VIRTUAL TOUR

Fran Gatti | RE/MAX Coastal Redwoods | frangatti@remax.net | 707-218-8162

145 Azalea Court, Gasquet, CA

River Access, 4/2 manufactured home on 1.3 acre, seller to pay up to $8500 in buyers closing costs!

4BR/2BA Manufactured

offered at $279,000

Year Built	1995
Sq Footage	2,544
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	1.03 acres
HOA/Maint	$0 per month

DESCRIPTION

Seller to pay up to $8500 in buyers closing costs. Private, secluded retreat w/view of French Hill and access to the Smith River! All the living areas are spacious w/ 21x18 living room, 12x13 formal dining &18x19 family room making this home perfect for entertaining. Wraparound deck has lovely view and includes hot tub. Master suite is large (15x19) & opensonto deck, master bath has walk-in shower, large soaker tub, dual sinks, storage and more. A lovely home, in a peaceful neighborhood in beautiful Gasquet.

see additional photos below

PROPERTY FEATURES

- Central heat	- High/Vaulted ceiling	- Walk-in closet
- Tile floor	- Family room	- Living room
- Dining room	- Dishwasher	- Refrigerator
- Stove/Oven	- Microwave	- Washer
- Dryer	- Laundry area - inside	- Balcony, Deck, or Patio
- Yard

OTHER SPECIAL FEATURES

- River Access and Mountain View

- 1.03 acre

ADDITIONAL PHOTOS

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

Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

frangatti@remax.net

707-218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 11, 2009, 8:34pm PST

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

The New and Improved Home Buyer Tax Credit

Sat, 07 Nov 2009 00:38:38 -0600

The first time home buyer tax credit is here to stay for awhile longer and it's been improved. Read on...

Via Claudette Millette - Metrowest Mass Exclusive Buyer Broker (The Buyers' Counsel):

The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature.

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home.  To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.

The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.

The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.

Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."

But, is this really true? When April 2010 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy?

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Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

First Time Home Buyer's Tax Credit Extended?

Thu, 29 Oct 2009 17:10:47 -0500

It looks as though the $8000 First Time Home Buyer Federal Tax Credit will be extended.

Lawmakers, looking for ways to generate home sales, are talking about extending the First Time Home Buyer Tax CreditAND increasing the income requirements so more Americans can qualify for this incentive.

Experts agree that the extension is all but certain as lawmakers look for the vehicle to bring this before the senate. Per The Wall Street Journal last night, Senate Majority Leader Harry Reid is trying to attach the legislation to a bill that will extend unemployment benefits.

More about the revamped extension:

The new version of the tax credit will have a contract deadline of April 30, 2010 (must have a fully executed contract), with the sale to be finalized on of before June 30, 2010.
Homebuyers who have lived in their home 5 or more consecutive years out of the last 8 years will be eligible for a $6500 tax credit if they "move-up" to a new home." This targets homeowners and not investors.
The income ceiling level will be raised from $75,000 for a single-person and $150,000 for a couple to $125,000 and $250,000 respectively, although neither can purchase a home for more than $800,000 and get the tax credit.
The current tax credit has cost the Federal Government more than 10 billion in lost revenue. The new version will certainly have a greater impact.

What is your opinion of the First Time Home Buyer Tax Credit?

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Crescent City Marlin Fishing - A Mike Nolan Fishing Adventure

Wed, 28 Oct 2009 14:17:31 -0500

Crescent City Tuna Fishing - A Mike Nolan Fishing Adventure

There is a story that goes along with this fishing trip. Here it is as told by John E Evans first and then Mike Nolan:

Well it all started when Mike asked if he could invite a fishing buddy to go with us on a Tuna Fishing trip. Mike said," his name is Doug Oxford, and he's a former fishing guide turned Sheriffs Deputy". I said OK, he's welcome to join us.

Our first trip with Doug was very good and so when we planned another trip Mike couldn't go, but Doug was available and another friend John Conderaque (not sure of spelling). John owned the Smith River Motel, and I met him through Mike. It was around early Sept of 1997, and we headed out very early around 5 am one morning.

As we left the Harbor I noticed what seemed a carpet of small, round Jelly Fish all around us and as deep as I could see. John promptly took out his brand new camera and proceeded to snap shots above and then holding the camera under the water taking shot after shot. I finally asked him to save some film for the fish, at which time we continued on with our mission to catch Tuna. By now we were out about 15 miles and hadn't caught a thing. Conditions were very good and water temp was right, but no Tuna. We had been trolling for some time when I heard radio chatter about Tuna at 9 miles from C.C. I could see a couple of boats inside us, so we picked up the Lures and headed toward them. After we started trolling again, it wasn't long before we had jig strikes and caught a couple of Tuna, so we put the lines back in, and started trolling again. This time when we hooked up, a big seal grabbed the fish. I made a quick move to get away from the seal and started trolling again. We trolled some distance, but had no strikes. I turned back towards the area we had hooked the Tuna, hoping that the seal would be elsewhere by now. I retraced the the path shown on my Chart Plotter back to the area of the catches we'd had, noticing another vessel was also fishing the same area.

Doug said he thought the other fisherman was a retired DFG warden, and we waved and continued on. Now the entire time we trolled I operated the Helm, so i relied on Doug and John to spot any activity behind, and i would do the same ahead. Suddenly, I saw Doug's eyes go wide open and wondered out loud what's that! About that time one of the reels started to scream from a jig strike, and as I looked back to see, a Marlin jumped behind the boat with my lure, (a Mexican Flag pattern) and proceeded to take the line off the reel. I turned the boat around in order to chase the fish so that Doug could tighten the drag and get back some line on the reel, which by this time was almost empty. I put the engine in neutral and watched as Doug proceeded to pull on the Marlin. The fish put on a great show for us and attracted the other boater we had passed.

I was waiting for Doug to hand off the fish so we could all have a turn, since it was my boat and fishing equipment. I didn't think it was to much to ask, but Doug would not hand off. John was taking picture after picture with his brand new Camera of an amazing event. As the Marlin, a Striped Marlin, came to the boat, I put on my gloves and was able to grab it's bill and hold on. It was worn out by that time and put up little resistance. Now, while this was going on John was making a visual recording with his "brand new Minolta." I suggested that rather than kill such a fish, that we release it to live on. Having no voiced objections and the fact that we would have pictorial proof of our wondrous catch, I ordered the engine put in gear and proceeded to revive the Marlin by holding it in a swimming position. It wasn't long before i felt the fish starting to revive, and as I released it, the fish put on a visual glow turning different colors as it left our view. I felt extremely pleased that it was still alive and we were anxious to get back to the dock and brag about our Marlin. I asked John to get the film developed asap, so we could prove the catch.

I heard awhile later that Doug Oxford went to the Triplicate (our local newspaper) and told them how he caught a Marlin and omitted to mention me or my boat and fishing equipment. In the issue of Sept. 6 1997, an article appeared with Doug's version of how he caught a Marlin off C.C. To top it off, John seemed to have had a malfunction with his "Brand New Camera", and only the Jelly fish pics developed. I imagine that the camera ran out of film, but John has never said and I know how bad he felt, so it was best not to ask him. So Fran, by this time you probably wished you'd never asked about the Marlin, but I can tell you it was a thrill for me regardless of the lack of proof. Oh, and by the way, Doug was never invited again.

Here's what Mike had to say about that day:

Howdy Fran,

This pic was taken on a commercial boat, with my son Matt on left, and Ronnie Caron on right. It was the day I changed to drag boat with skipper Joe Caron to sport fish on drag boat instead of Johns boat when marlin was landed.

They never had a albacore on board the 80 year old boat and no gaff, just a hand pick to bend over the rail and pick up tuna. I brought a dozen feather lures and five rods and we lost most of the lures and most of the line as we fought tuna all evening and next morning as we trolled from Brookings to CC the next am. Barbecued shrimp that night, they had caught in their net the day we departed at 5pm from Brookings. All night was the sound of jumping fish attracted to the lights and fish underneath the boat at false dawn when we awoke.

We landed close to 100 albacore by the time we docked in Crescent City at noon the next day. The best pic and most fish I have ever helped catch in less than 24 hours.

That's my side of the marlin story.

Kind Regards,

Mike Nolan

Follow all of Mike Nolan's fishing adventures on my blog.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

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My Blog: Fran's Blog
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Be a Productive Listing Agent

Sun, 25 Oct 2009 03:28:51 -0500

Be a Productive Listing Agent. How?

I have written plenty of posts on how to be a good listing agent, from giving good customer service, to answering your phone when agents call (or anyone for that matter), to good signage, writing a monthly market report and more.

I also wrote a popular post on realtor.com enhancements, are they worth the money? I would say less than 5% of the 309 comments I received on that post said realtor.com enhancements were worth the money.

Why bring that up? I have sold 10% of the residential listings (per ccmls) that have sold in my market so far for 2009. Only one other agent can say that (we're tied at the moment but I intend to pass that agent up this week) and I DO NOT USE realtor.com as part of my marketing efforts.

First of all I will tell you why I do not use realtor.com, then I will tell you what hands-down has been the single biggest force in driving consumers to my website.

My renewal with realtor.com expired in mid July, so I have 6 months of stats for 2009 on what drove consumers to my website (these stats cover 1/1/09 - 7/16/09).

Active Rain 39.26%
Google 24.69%
Yahoo
FranGattiHomes
Trulia
live.com
PelicanBayStatePrison.net
realtor.com 1.23%
aol
Zillow

I bolded the free sites in the list. Do you see realtor.com on the above list at number 8 although it IS THE ONLY ONE ON THE LIST THAT I PAY FOR (PelicanBayStatePrison.net was my website that I canned because the ROI wasn't worth it [and it came in ahead of realtor.com].) In fact, realtor.com cost more per year than my website! So, I didn't renew and I vowed to put the money I was saving toward assistance with SEO and bettering my website.

However, please focus on the #1 factor that drives consumer's to my website, Active Rain. Several of my listings came from clients who were researching agents on the internet and they came across my blog, read what I had to say, including my monthly market reports, that establish me as THE EXPERT in my market, and hired me to sell their home.

Is it just enough to get a listing though, to be a great listing agent? No. You need to sell homes. A homeowner should ask an agent, "How many homes have you sold this year," and, "What % of the sold homes this year were yours?" Why would a seller want to list with someone who isn't selling homes? That's a question I have asked myself frequently.

Believe it or not, not all RE agents take their job seriously, hard to believe, but there it is.

5 of the 11 homes, or 45%, that have sold so far in 2009 with a sale price of over $400,000 were my listings (I already mentioned 10% of all residential listings sold were mine). I can directly attribute 4 of those sales to my virtual tours on realestateshows (which charges a nominal yearly fee). Most agents in my market don't do a virtual tour and for the sake of me I can't figure out why. Too much time, too much effort, what?

Probably 50% of my listings come from my efforts on Active Rain either directly, from someone who called after reading a post, or indirectly, from a neighbor who called me after I quickly sold their neighbors listing.

To recap -

Active Rain is productive IF DONE RIGHT - I'm not going to go into a long dissertation on what that means. Read ActiveBrads blog if you want to know how to properly use your AR blog. This I can tell you, if you don't plan on blogging to the best of your ability, don't do it. Blogging can really work against you if not taken seriously.
Utilize free websites for posting your listings.
Good signage has been HUGE in my success this year - I wear my name tag everywhere and when people read my name I hear, "Wow, I see your signs everywhere around our county." Name recognition is huge. This can work against you if you're flipping people off or cussing them out when you're driving, not that I've done that.
Do a virtual tour on all your listings- realestateshows (I'm not getting paid for this BTW) is very affordable and takes very little time to post a V.T. Don't be lazy...just do it.
You can fork over the $$ to realtor.com if you want to, but I'd check stats to see if it's cost effective- In this economy, who can afford to do something as costly as realtor.com if it isn't producing a return on your investment?
Have a website - I use Top Producer (they aren't paying me either), but apparently my website is pretty awesome in their eyes, because they give my web address to agents who ask for an example of one of their sites. I get calls every now and again from agents asking how I like the site. I LOVE my Top Producer website. It's VERY affordable and they have awesome tech support. Check it out and see what you think. You can call me if you like--Fran's cell, 707-218-8162--if you would like to ask me any questions, that's what Ambassador's are for.
Write a monthly market report - You're just plain crazy if you are not doing this. You are supposed to be an expert in your market. You establish your expertise when you KNOW your market stats and there is no better way to know your stats than to do a market report. You will dazzle your prospective listing clients with this information. Just do it. Stop being lazy.

Do all these things and if you don't get more and sell more listings, call me. I am not adverse to helping an agent in need, just don't be from my market! Just kidding...sort of.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
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Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
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Crescent City Makes America's Prettiest Towns List at ForbesTraveler.com

Sun, 25 Oct 2009 00:49:46 -0500

Crescent City makes America's Prettiest Towns list at Forbes Traveler.com

There are so many reasons that Crescent City would make the Prettiest Towns in America list. To name a few:

Pristine parks: Tolowa Dunes State Park, Beachfront Park, Lake Earl Wildlife Refuge, Jedediah Smith State Park
Miles of rivers for rafting, fishing and more: Gasquet, home of the forks of the Smith River, the Klamath River
Beautiful and quiet places to swim: Second Bridge a swimmer's delight
Miles of beaches: South Beach, Enderts Beach
Fresh seafood: Fresh Crab, Fresh Tuna, Tuna fishing w/Mike Nolan, Fishing the Pacific North Coast w/Mike Nolan
World Class Fishing: Crescent City Harbor, Fishing the Rogue River

Not to mention Pt. Saint George Reef Lighthouse, Battery Point Lighthouse, Batter Point Pier, Redwoods State and National Parks, Point St. George Recreation Area, surfing...need I say more?

Here is a link to a cottage by the beach that I just listed. Let me know if you want more information.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
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Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
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Crescent City Home Sellers Update of the Market

Fri, 23 Oct 2009 11:19:55 -0500

This is an update for Crescent City/Del Norte County Home Sellers -

The time is quickly approaching for my monthly market report, which is for the general public; however times are tough for Crescent City home sellers right now and I thought I would do an update just for my those of you with active Crescent City/Del Norte County listings.

32 listings have sold since 9/1/09 (I included land sales because many of you have land listed and are concerned with what is going on with that segment of the market).

The median priced Crescent City/Del Norte County residential listing to sell in that time period is $150,000. 19% of those sales were REO's (foreclosed homes), which is down from previous months. The sellers that sold their home in that time period had their home priced to sell. The price was at the lower end of the price range for their size and condition of home. Several upper end homes sold because they were priced to sell. In some cases, the owner financed the home offering good terms and/or kicked in the buyers loan fees and other concessions. That is very common in the current market.

The vacant land sales show an acre dropping from the high of $125,000 for an unimproved acre several years ago to $80,000 and well below. The acre that sold for $80,000 had well and septic in and electricity on the parcel.

Crescent City/Del Norte County buyers are sophisticated! They generally know as much about what's out there as their agent and they know a competitive price because they have researched it on the internet. Buyers are all looking for a bargain. That can make it tough on a seller.

Several of my clients have been following my market reports and know very well what's going on with this market and have priced their home to sell. As we enter what is generally regarded as our slow time of year in the Crescent City/Del Norte County real estate market, I would expect, even with a slow down, those listings that are priced to sell, will.

Please let me know if you have questions, concerns, or would like to discuss this information in more detail. I am happy to speak with you at your convenience.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
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Crescent City Cottage by the Ocean for Sale...$229,000

Thu, 22 Oct 2009 22:28:41 -0500

VIRTUAL TOUR

Fran Gatti | RE/MAX Coastal Redwoods | frangatti@remax.net | 707-218-8162

135 Third Street, Crescent City, CA

Cottage by the ocean for $229,000.

3BR/1BA Single Family House

offered at $229,000

Year Built	1953
Sq Footage	1,280
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	1
Parking	2 Uncovered spaces
Lot Size	7,260 sqft
HOA/Maint	$0 per month

DESCRIPTION

Completely remodeled home by the beach. This 3 bedroom, 1 bath home has brand new everything including: new electrical and panel, plumbing, oak hardwood floors, Wilson Art high definition laminate counters, oak doors, trim and cabinets throughout, new stainless appliances, stylish fixtures, porcelain tile floor in bathroom, hearth in living room for pellet or wood stove and a one block stroll to the beach! Call Fran for a showing today at 707-218-8162. Please be sure to check out the additional pictures and don't hesitate to call if you have questions about this lovely cottage by the ocean.

see additional photos below

PROPERTY FEATURES

- Hardwood floor	- Tile floor	- Living room
- Dining room	- Dishwasher	- Stove/Oven
- Microwave	- Stainless steel appliances	- Laundry area - inside
- Yard

OTHER SPECIAL FEATURES

- 1 Block from Ocean and Beaches

- Completely Remodeled

ADDITIONAL PHOTOS

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

Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

frangatti@remax.net

707-218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 22, 2009, 6:47pm PDT

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
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Bus: 707-464-5400, Cell: 707-218-8162
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My Blog: Fran's Blog
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INTERESTED IN BUYING A HOME? Fact is, you may not be able to play today if you didn't pay yesterday!

Sun, 18 Oct 2009 01:20:07 -0500

Here is a well written post on credit repair by Lenn Harley. I especially like her comment, "Working with a competent loan officer who will tell folks what they really need to do to be able to qualify for a mortgage loan is the best way."

My clients have had good results doing just that, saving them the expensive fees that some credit repair agency's charge for their services.

Fran

Via Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate:

INTERESTED IN BUYING A HOME? Fact is, you may not be able to play today if you didn't pay yesterday!

A GOOD CREDIT RATING IS A CONSUMER'S MOST VALUABLE ASSET. The Tax Credit and low interest rates have inspired many folks to consider buying buying a home who never seriously considered that alternative to renting. After all, it's the thing to do these days. Or is it??

Fact is, you can't play if you didn't pay. . . OR, until you pay.

Inspired by a timely post by Ellen & Coc Stephens about credit repair, I suspect that many ActiveRain agents and loan officers have had contacts from consumers who want to buy, but are just simply not credit worthy. Hardly a day goes by that I do not receive a phone call from a consumer who has paid $Thousands of Dollars to a "credit repair" company only to find that their credit has not improved.

Working with a competent loan officer who will tell folks what they really need to do to be able to qualify for a mortgage loan is the best way.  Or, if they really need the structure of a service to manage their money, consider. . . .

CONSUMER CREDIT COUNSELING. If it's really out of the consumer's hands, CCC is the only way to go. They are non-profit and a mortgage loan can be obtained with CCC as a credit reference.

Folks just have to understand that bad credit didn't happen to them, they made it happen. They have to clean it up.

Many folks have filed a Chapter 7 bankruptcy in past years to liquidate their bad debt. Sadly, their credit report shows late payments in the past 6 months. WHAT?????

AFTER BANKRUPTCY. Yes, you can obtain a mortgage loan after bankruptcy.  2-4 years following discharge, a consumer can obtain a mortgage loan IF, THEY HAVE. . .

Established new credit

Made payments on time

Have no late payments

Qualify for the payment

Write a good explanation for the cause of the bankruptcy

More depending on your individual cause of the bankruptcy.

No, it isn't automatic. If you have damaged your credit in the past, you will have to earn the ability to obtain a mortgage loan. Folks who filed bankruptcy because of medical expenses will find it easier than folks with discharged consumer credit debt.

If you sold your home through a short sale in the past year, it is unlikely that you'll be able to get a mortgage loan today. I have received several calls with this scenario, often within months of a Short Sale. Not likely to happen.

WHAT TO DO.

Stay out of the mall.

Make credit card and other payments when they come in the mail, not a day before the due date.

Don't shop for automobiles while considering buying a home.

Don't co-sign for anything for anyone.

Develop a plan for saving that extra money rather than spending it.

Stay out of the mall.

GOOD LUCK!! There can be a wonderful home owning experience in your future.

ONLY YOU CAN MAKE IT HAPPEN.



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

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988. Helping home buyers in Maryland and Northern Virginia. .

To Search for Homes for Sale in Maryland and Northern Virginia, visit our HOMESDATABASE site for buyers who would like to tour the real estate listings on line with photos, prices, descriptions and features.

WE CAN HELP! Ask about the Homefinders.com FREE One Year Home Warranty for all Leesburg home buyers

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
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Don't Tell Me It Can't Be Done

Thu, 15 Oct 2009 23:47:17 -0500

Here are some great quotes from men who have had an undeniable influence on our country. It's interesting how timely Thomas Jefferson's quotes are for our country's current financial crisis.

Fran

Via Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate (Keller Williams-Ann Arbor):

Don't tell me it can't be done.....

Time for a little history lesson.

John Kennedy once said to an assembled group of scholars in the White House, "I think this is the most extraordinary collection of talent, of human knowledge, that has ever been gathered at the White House - with the possible exception of when Thomas Jefferson dined alone.

When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe.
Thomas Jefferson

The democracy will cease to exist when you take away from those who are willing to work, and give to those who would not.
Thomas Jefferson

It is incumbent on every generation to pay its own debts as it goes. A principle which, if acted on, would save one-half the wars of the world.
Thomas Jefferson

I predict future happiness for Americans, if they can prevent the government from wasting the labors of the people, under the pretense of taking care of them.
Thomas Jefferson

My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson

No free man shall ever be debarred the use of arms.
Thomas Jefferson

The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.
Thomas Jefferson

The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.
Thomas Jefferson

In light of the present financial crisis, it's interesting to read what Thomas Jefferson said in 1802:

Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks-- and corporations that will grow up around the banks--will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered.

Doesn't this sound eerily familar to what is happening in America today?

Thomas Jefferson was the 3rd President of the United States. He and John Adams were most responsible for the writing of our Declaration of Independence. They were very good friends when they were working together on the Declaration of Independence but later became mortal enemies when one became a Republican and one a Federalist.

All tyranny needs to gain a foothold is for people of good conscience to remain silent. Thomas Jefferson

I will not be guilty of being silent. Will you?

Don't tell me it can't be done...we can return to our Liberty and Self Government.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
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Bus: 707-464-5400, Cell: 707-218-8162
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Oregon National Guard honors fallen hero Capt. Bruno de Solenni at Portland Marathon

Wed, 14 Oct 2009 16:02:22 -0500

Oregon National Guard Maj. Dominic Oto and Master Sgt. Jerry Glesmann honor one of their fallen, Crescent City resident Capt. Bruno de Solenni at the Portland Marathon.

Click this link for the entire story.

Read Bruno's letter to home, written a few weeks before his death, for a combat soldier's opinion of the war in Afghanistan.

At Portland Marathon, Oregon Guardsmen are brothers on a mission

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

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Crescent City Tuna Fishing with Mike Nolan

Tue, 13 Oct 2009 16:28:27 -0500

Here is another of Mike's Crescent City fishing excursions for Tuna off the Del Norte County coast.

This was THE MOST DELICIOUS tuna ever. My family likes our tuna marinated in Soy Vay marinade, wrapped in bacon around 2 inch sized tuna pieces, then barbecued, but it's delicous baked as well and excellent to eat cold the next day.

My daughter hides the leftovers, if there are any, in the refrigerator for the next day. My kids will make sure they are home for dinner when fresh tuna is being served.

Thank you Mike for ALL the fresh fish throughout the year. You're great!

Mike has lots of friends who like to take him fishing. He has quite the reputation as an excellent fishermen both on the ocean and on our local rivers, the Chetco, Klamath, and Smith River.

Cheers!

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
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Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
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My Blog: Fran's Blog
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Crescent City Municipal Swimming Pool - Wow

Mon, 12 Oct 2009 23:49:15 -0500

The Crescent City/Fred Endert Municipal Swimming Pool just underwent a complete makeover and is it something to see. Take a look:

The swimming pool has a salt water system that uses significantly less chlorine than old technology swimming pools. This type of pool is easier on the eyes and skin.

This mural was painted by The Harbor Gallery. It is truly stunning and adds just the right mood to the pool area.

The newly added water slide is available during most family and recreation swims. The Crescent City swimming pool and slide have handicap accessibility.

Some of the other features of the Crescent City indoor swimming pool:

The water slide
Open recreation swim
Family recreation swim
Aerobics
Water walking/Aqua jogging
Spa and sauna that are open during adult program (available for use by those 16 and older)
Swimming lessons
Rentals
Crescent City Swim Club

There is lovely artwork by local artists throughout the facility.

The pool has newly remodeled shower/locker rooms and sells snack foods and drinks.

The facility is available to rent for birthday parties and other group events.

The Crescent City Swim Club practices at the Crescent City Fred Endert Municipal pool. For more information on the swim club, check out their website.

The pool is located at 1000 Play Street, near the Crescent City Cultural Center, phone number: 707-464-9503.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

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Fishing Fertile Waters off the Pacific Northcoast in Pictures

Mon, 12 Oct 2009 22:52:09 -0500

Mike Nolan, a fellow real estate agent in my office, loves to fish the off the Del Norte county and Curry county coastline. Mike is a prolific fisherman and is recognized by many for his skill and knowledge regarding the sport. I get to eat what he catches and am most grateful for his abilities. Here is Mike with a ling cod.

This is Mike's son Jesse with a steelhead caught in the Smith River.

Mike says these razor clams make the best eating meal in the Pacific Ocean.

John Evans with Pacific Halibut taken off Point St. George.

Sunset over the Pacific off the Brookings, Oregon coast.

Follow Mike's fishing adventures on my blog.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

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Refinance options for underwater homeowners

Mon, 12 Oct 2009 00:18:32 -0500

Simon Smart explains in an easy to understand manner the Making Homes Affordable plans instituted by the President. It's great information that may help you, a friend or family member. Here is a link to find out if you have a Fannie Mae loan. Thanks for stopping by.

Via Simon Smart (Sunstreet Mortgage, Arizona):

Refinance Options for Underwater Homeowners

We all know people who are having trouble keeping up with their payments but could not refinance because they are underwater (or close to it) on their loan. Many were not willing to refinance because it would push them above the magic 80% Loan-to-Value ratio, which would necessitate getting mortgage insurance (MI) - which either they could not get (usually due to a credit score or a Debt-to-Income issue) or which would increase their monthly payments to the point that is negates any drop in payment from a lower interest rate.

Well, over the last few months, a couple of programs have been launched or expanded which would help people in these situations - but don't seem to have made much impact in the media, either here in Arizona, or nationally. A large number of people I speak with, even realtors, are not aware of these changes, so I wanted to touch on the basic requirements to qualify.

There are two programs - for Fannie Mae loans, DU Refi Plus (catchy title!), and for Freddie Mac loans, The President's Making Homes Affordable Program (who thinks of these?). If you have a conventional loan (not FHA, VA or USDA) then you most likely have a loan owned by Fannie or Freddie. (Note - it will be serviced by Bank of America, Citi, Flagstar, etc)

The programs have a few differences, and investors may have some extra requirements, but the main points are:

You can refinance up to 125% of the home value. This is huge for many homeowners. For example, if you owe $310,000 and home prices have fallen to the point that your home is worth $250,000, you are at 124% Loan-to-Value and can potentially refinance. The previous limits on these programs were 105%, so this is a big improvement, and will bring a large number of homeowners to a place where they at least have an option. However - there is a catch. As most lenders will consider a higher LTV to come with a higher risk, the interest rate also gets higher. So if you are at 120% LTV with a 6% interest rate, this may not be worthwhile. If your rate is higher, maybe it is. You really need to have a good loan officer run some scenarios for you to determine if this is in your long term interest and something worthwhile for your unique situation.

There should currently be no mortgage insurance. If there is mortgage insurance on the property (i.e. at the last refinance or when they bought it, the owner put down less that 20%) then, for now at least, they need to go to their current loan servicer who is the only lender which can refinance them. And quite honestly, results may vary. If there is no mortgage insurance - here is the great news - there is no requirement for mortgage insurance on the new loan, even up to the maximum LTV.

The borrower can have no payments more than 30 days late in the last 12 months. When a loan modification 'expert' tells you not to make your payments, run for the hills.

The refinance must result in either (a) a lower interest rate (b) convert an ARM, interest only or balloon mortgage into a fixed rate loan, or (c) reduce the term of the mortgage.

There are more criteria, of course, but I won't go into them now. My objective is to spread the word that these programs are out there and there are homeowners who need them who may not be aware. If you are a real estate professional, please spread the word and lets try to prevent a few more foreclosed properties hitting the market.

I'm Simon Smart with Sunstreet Mortgage in Tucson, Arizona. If you or someone you know may need to refinance, and is upside down on their loan, have them give me a call. I will do my best to find a way to lower their payment or get them into a program which better suits where they are at. Right now we all need to help each other.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®

Selling Your Crescent City Home - Part 3 - You're in Escrow

Sat, 10 Oct 2009 18:41:00 -0500

Selling your Crescent City Home - Part 3 - You're in Escrow

Congratulations! You've made it. Your Crescent City home is in escrow. Don't make moving plans just yet. You have SEVERAL HURDLES to overcome.

First, if your agent didn't get a preapproval letter from the buyer when negotiating the offer, you will definitely want to see one now. Why let one more minute go by without knowing your buyer is truly qualified to purchase your home. If that's a go then start praying your home appraises for the purchase price.

The lending industry is in CYA mode big time. Underwriter's, account executives, mortgage brokers and yes, appraisers, have all been made out to be the bad guys in the subprime fiasco to varying degrees depending on who you talk to. This has caused the lending industry to become VERY conservative, overly so. Lending went from, "Just state your income, no verifciation is needed," to the buyer needing to have a rectal exam to qualify.

All that to say that appraisals sometimes come in under the purchase price, even when your agent did their job diligently in pricing your home. Thanks to HVCC there are appraiser's who are now doing appraisals outside of their preferred niche or area of expertise. You don't have to look far to find blog fodder about this topic.

I prepare my clients when we are listing their Crescent City home, especially if they are listing above my recommended price range, that the appraisal may be an issue. If you price your home high and are blessed to get a full price offer, but the appraised value comes in lower than the purchase price, you generally have a problem. If the buyer is financing the home, the bank will not loan above the appraised value. Even if a buyer has cash to bring to the transaction, my experience has been that a buyer is not willing to pay more than the appraised value and who can blame them? Would you pay more for a home than it is worth with prices projected to continue to decline?

If this happens to you then you can, A) Renegotiate, B) Cancel the escrow, C) Hope the buyer doesn't care and will bring the additional cash to close the deal (do not hold your breath on option C). In my humble opinion, renegotiating is the best option as all experts point to increased foreclosures in 2010 which will further decline list prices. If you were breaking even at the originally negotiated purchase price talk to your agent about ways to negotiate other aspects of the offer, i.e. inspections costs, commissions, title/escrow fees, etc. to keep your escrow moving forward.

So your home came in at the appraised value. That's great. What else can go wrong? Don't even ask.

The pest inspection came back with $3000 in section 1 repairs. Holy cow, now you're done for. The buyer has 17 days from the date the contract is fully executed to back out and retain their deposit if they find out anything adverse about your home (the due diligence period). $3000 in pest work would qualify for adverse. This is one example but there are dozens of pitfalls and hurdles to overcome in an escrow even if the home is in perfect condition. Use a full-time agent with a proven track record that sells a lot of volume. If the agent sells a lot of volume, the agents escrows MAKE IT TO CLOSING! No small feet in the current Crescent City real estate market.

If you would like to talk to an experienced, full-time agent regarding selling your Crescent City home, give me a call and I would be happy to do a free market analysis for you using up-to-the-minute market data. Please subscribe to my monthly market report for an indepth look at the Crescent City/Del Norte County real estate market and how it affects you.

Be sure to check out:

Selling your Crescent City Home - Part 1 - Proper Pricing
Selling your Crescent City Home - Part 2 - Negotiating an Offer

Thank you for stopping by. Your comments on this post are welcomed and appreciated.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: Fran GattiHomes.com
My Blog: Fran's Blog
RCDPro®