John And Marena's Blog

Not All Homeowners Insurance Is Created Equal

John And Marena Murray (Keller Williams Realty) — Tue, 22 Apr 2008 19:38:44 -0500

Not All Homeowners Insurance Is Created Equal (ARA) - If a fire destroyed your spacious four-bedroom home, complete with landscaping, home theater and wine cellar, would your insurance carrier expect you to live in a small one-bedroom apartment throughout the yearlong process of planning and building your new home? And what if the insurer limited your new home's design to a modest cracker box, because your policy only covered "insured value" rather than "replacement value"?

Then you would know that all homeowner policies are not created equal.

In the event of a loss, it's important that your lifestyle be protected and restored as completely as possible -- starting with your temporary accommodations. And when your home is rebuilt, the last thing you need is to be told there's a limit to how much you can spend to replace what you had.

How do some homeowners completely restore their houses and lifestyles while others are forced to haggle over additional out-of-pocket costs? The fact is that not all insurance policies are the same. As your life changes, your insurance needs become more complex and your old mass-market insurance policy might not be keeping pace.

In other words, as your lifestyle moves up from a discount store to Rodeo Drive, you begin to consider more than just price. The amount of choice, flexibility and value built into your homeowner's policy becomes more important.

The Replacement Gap

It is often at the critical juncture of a loss that homeowners learn their insurance has not kept pace with their home's replacement value.

"It you have owned your home for 20 years and you have the mass-market policy you first bought with that home, it's very possible your insurance has not kept up," says Mitch Ziemer, product director for Fireman's Fund Insurance Company. "Factors include inflation, value of contents, and even building codes, which may require a different kind of construction. A homeowner wants to be sure those costs are known -- and covered as long as they own their home."

Some policies insure only for actual cash value while others cover replacement costs. What's the difference? When actual cash value is used, the policyholder is entitled to the depreciated value of the damaged property. So the older the item is, the less money you may receive to replace it.

You'll want a policy that pays the complete replacement cost -- including rare and custom work. Under replacement cost coverage, the policyholder is reimbursed the amount it costs to replace the property and its contents with something of a similar type and quality at current prices.

For example, your Italian marble floors would be covered for the cost of the materials and installation -- even if these costs are higher at the time of replacement than they were for the original installation. The policy would also rebuild your downstairs home theater, your wine cellar, and even replace and replant your landscaping.

You should also seek a policy from an insurer like Fireman's Fund that provides the added benefit of a loss of use limit that is much higher than the industry standard. This coverage pays all comparable living expenses (compared to a predefined limit) you incur while your home is being rebuilt. And if you don't want to rebuild in the original location, you have the option to receive a cash settlement, which is also not offered by many other insurers. Plus, when you do rebuild, you can work with the contractor of your choice, not the insurance company's.

An additional benefit to seek in your policy is a loss of use limit that is much higher than the industry standard. This coverage pays living expenses you incur while your home is being rebuilt. And if you don't want to rebuild in the original location, you have the option to receive a cash settlement, which is also not offered by many insurers.

"To get an accurate value to assess risk, you need experts who know the market, your home, and your possessions," Ziemer says. Unlike the mass-market approach, a company like Fireman's Fund provides this kind of on-site expertise as part of the homeowner's policy.

It's this approach that serves the specific lifestyles of individuals and families with valuable assets and possessions. While perhaps a little lower in price, mass-market policies may not facilitate the concept of the individual experience, nor are they likely to provide coverage for your way of life. In many cases, they do not even insure the full replacement value of your home.

Courtesy of ARA content

Watch Your Weight and Your Wallet

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:27:19 -0500

Watch Your Weight and Your WalletDon't Let Disability Sideline Your Financial Health in 2008 (ARA) - Homeowners with subprime mortgages won't be the only ones facing foreclosure in 2008. Each year, 50 percent of all mortgage foreclosures are the result of the financial toll exacted by disability, according to the medical journal Health Affairs.

In fact, loss of income due to disability causes 350,000 personal bankruptcies every year, the journal reports. And three in 10 workers entering the workforce can expect to become seriously disabled during their lifetimes; one in seven will be disabled for five or more years, according to the Social Security Administration.

"Clearly, getting financially fit by preparing for disability should be high on the New Year's resolution list of every working American," says Robert Taylor, president of the nonprofit Council for Disability Awareness (CDA). "Not being able to work because of an illness or accident can be incredibly costly and personally devastating. Planning for disability is an essential, but often overlooked, part of the financial planning process."

Under the best of circumstances, disability can place a financial hardship on families. But many American families are more financially at risk than ever, with 44 percent spending more than they earn, according to the Federal Reserve, and average credit card debt approaching $10,000, as reported by Parade Magazine.

"Disability does not have to equal financial disaster," Taylor says. The CDA offers the following tips for getting financially fit - and preparing for disability - in 2008:

1. Make a list of your essential monthly living expenses. These include costs like rent or mortgage payments, utilities, food and medical insurance that would continue if you lost your income. Eliminate extras that you could live without if you had to, such as entertainment and vacations. This list of essentials will give you an idea of how much money you absolutely must have each month in order to make ends meet.

2. Get familiar with your employer's sick pay and/or long-term disability policies. Can you count on your employer to continue at least some of your income while you are disabled? Many do not. Knowing in advance what, if anything, you can expect from your employer and how long you can expect to receive it, can help you determine how much income you'll have to replace in the event of disability.

3. Identify other sources of income that might help you cover expenses during a disability. Can your spouse work to replace some of your lost income? How long would your savings cover those expenses if you had no income? Would you want to tap into your retirement savings? Could a second mortgage or support from family members and friends be an option?

4. The average length of disability is 30 months. If your income during disability and savings wouldn't carry you for at least that long, you'll need to increase your savings or line up other sources of income.

The road to financial fitness begins with thinking ahead and good planning. You need to plan for disability just as you plan for an unexpected major medical expense or save for retirement. With good planning, the financial impact of disability can be much more manageable.

Taylor's organization, the Council for Disability Awareness, is a nonprofit group focused on helping the American workforce become aware of the growing likelihood of disability and its financial consequences. The Council's Web site, www.disabilitycanhappen.org, offers tools and tips to financially prepare for disability and how to help prevent disability before it happens.

Courtesy of ARAcontent

Mission 2008: Find a Better Job

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:26:06 -0500

Mission 2008: Find a Better Job (ARA) - With every new year, changing jobs often tops the list of personal resolutions. But with so many career paths to choose from, which offer the greatest opportunities? From civil engineers to regulatory affairs associates, tomorrow's hot jobs are within your reach.

According to the U.S. Department of Labor's Bureau of Labor Statistics, professional and related occupations are projected to grow faster and add more jobs than any other major occupational group, with 6 million new jobs by 2014.

Among the up-and-coming occupations, professional and technical industries such as engineering, healthcare and science are expected to produce the majority of jobs in the year to come. For those in engineering, companies in the Southwest region of the United States, particularly the Gulf Coast are gearing up for projects scheduled to commence in early 2008.

Civil engineers and designers with chemical and petrochemical expertise remain highly sought after. These professionals can expect a salary range of $80,000 to $130,000, depending on experience.

The healthcare industry has been experiencing a nationwide shortage of professionals for many years. Aside from the obvious nursing shortage, another area where recruiters can't keep up with the demand is for physical therapists.

Therapists typically have a four-year degree and can make upward of $90,000 per year. Prior clinical experience is often preferred in potential candidates, but because of the demand, companies are accepting graduates right out of college.

But it's not just the jobs that are hot. If you've got the right skill sets, your chances of landing that dream job practically double.

When it comes to the pharmaceutical, biotechnology and medical device markets, those who can pair technical know-how with soft skills like negotiation and effective communication are viewed as an invaluable asset in the workplace.

For example, there has been an increased demand for validation and regulatory affairs professionals, who can make between $60,000 and $125,000. These individuals often serve as the liaison between the manufacturer and regulatory agencies like the Food and Drug Administration.

Not only have these professionals mastered the scientific skills needed for the job, they also encompass the characteristics of a strong, well-rounded leader.

"Technical skills, paired with interpersonal skills make for a powerful combination. Candidates with in-demand skill sets will continue to experience a robust job market and can expect to set their own pay scales," says Steve Armstrong, senior vice president, Technical Services, Kelly Services.

Often, getting your foot in the door with a prospective employer is the hardest part of landing a job. But some find that working with a staffing company helps them connect with the companies where many of these jobs exist.

"Sometimes, networking on your own will only take you so far. Working with a staffing company helped extend my reach and allowed me to leverage my professional knowledge and experience to a whole new audience," says Jim Jones, a contract planner and team leader with a major medical device manufacturer.

Courtesy of ARAcontent

Make “Financial Fitness” Your Goal for 2008

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:24:55 -0500

Make "Financial Fitness" Your Goal for 2008 (ARA) - Most of us spend time thinking about getting our bodies back in shape. But how "fit" are the other parts of your life -- such as your finances -- for the year ahead?

"The key to financial fitness is preparation. Whether preparing for retirement, college for your children, a dream vacation home or even the unexpected, everybody needs to take time each year to reexamine what they're doing and the progress they're making in order to reach those milestones," says Christopher Pinkerton, senior vice president, North American sales and marketing for Foresters, a leading fraternal benefit society that assists people in achieving financial security.

Here are some easy ways to put together a financial fitness plan so you're better prepared monetarily for the days and months to come.

Saving Money
It's a new year and a new opportunity to examine your expenses, spending and savings habits. Start the year right by creating a month-by-month budget, setting a savings goal and projecting your financial needs.

A good rule of thumb is to set aside three to six months of salary for unexpected events such as a job loss, major car repairs or large medical bills. In addition to preparing for the unexpected, identify ‘known expenses' that are coming up such as college costs, a new home, new car or a new addition to the family, and build them into your budget. Give yourself adequate time to save for these expenses a little each month. Before you know it you won't even feel as if you're saving and you'll be a step ahead.

Taxes
They're definitely something you can count on year after year. Review the withholding on your paycheck and adjust it if necessary. Take time to gather and sort out your receipts from the past year to identify tax deductions. While you're at it, set up an organized system to keep track of receipts for next year, so you don't misplace something and miss out on any deductions moving forward. And speaking of deductions, this is also a good time to determine which charitable contributions you made in the previous year, and which ones you plan to make in the coming year.

Retirement
Review the status of your 401(k), IRA and pension plan. If appropriate and consistent with your savings goals, sign up for any automatic increases offered through your employer. Take note of your retirement plan status at this stage of your life -- are you on track for growth, or is it time for an investment change? Even periodic small changes can have a big impact on your ability to build strength through investments.

Also, review your spouse's retirement plan, and agree on a plan for building wealth. Determine a strategy that allows you to increase your contributions during the good times as well as make changes during challenging times. For example, mark your calendar to review your investment performance with a financial advisor each quarter.

Estate Planning
The need for this may seem like a long way off, but it's a good idea to plan for your family's financial security. Do you have a will, trust or health care directive? If so, review the beneficiary designations to make sure the plans reflect your current wishes. Ensure that you have a guardian named for your children, and that you've outlined how your assets will be transferred.

Also at this time, consider whether there will be significant tax consequences for your survivors, who has title to what property and who will oversee your estate plan. If you don't yet have these items in place, an estate planning professional can help you sort things out, saving your family added complications upon your death. Your family will appreciate your forethought and be comforted by knowing that you made plans for them.

Life Insurance
An important step in financial fitness is financial security, and life insurance can be the backbone of financial security.

Remember, life insurance is the piece of the puzzle that makes sure your family can keep the house, send the kids to college or sustain the family's livelihood if there's a loss of one or both income providers. Some life insurance products can also provide savings and investment options for a home, a family bequest or a dream vacation.

"At the start of a new year, many people resolve to re-evaluate their investments or bump up their 401(k) contributions. However, as your life changes so will your life insurance needs. Be sure to check the beneficiaries. And consult with a life insurance representative on a regular basis to help you determine if you have the coverage that fits your needs," says Pinkerton.

Conventional wisdom recommends households should carry anywhere between two to 10 times your annual income in life insurance.

If you don't have a life insurance policy -- or any of the other financial plans mentioned above -- now is the time to get those parts of your life in shape. With the help of qualified professional advisors, you can put a financial fitness plan in place and prepare both you and your loved ones for the future.

For more information on your life insurance needs, visit www.Foresters.com.

Courtesy of ARAcontent

Quick Tips for Filing for Federal Financial Aid

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:21:12 -0500

Quick Tips for Filing for Federal Financial Aid (ARA) - Whether you'll be sending your kids to college in 2008 or heading there yourself, you've no doubt already heard of the FAFSA (The Free Application for Federal Student Aid). After all, it is one of the most critical financial aid forms a student will have to complete.

Much like filling out a bank loan application, the FAFSA determines how much federal aid a student is eligible to receive (in the form of grants or loans) based on U.S. Department of Education guidelines -- including information such as your family's assets and previous year's income.

"Although it is easier to file the financial aid application once parents have completed their taxes, the FAFSA can be filed using the best estimate of your prior year's income. Applicants will have the chance to update the information they initially provided at a later date," says Stephanie Behrends, spokesperson for 2nd Story Software, Inc., developers of TaxACT tax preparation software and online services.

Behrends continues, "Certainly, the state in which a student resides, choice of school and academic standing are components which contribute to the total amount of aid a student will receive in the form of scholarships, grants and loans. However, it is crucial for students to understand the chances of receiving federal aid are directly related to filing the FAFSA on time and the financial strength of their family, which is calculated by using the information supplied on the application."

The FAFSA measures your family's expected contribution toward the cost of your education. For that reason, cash assets and having high adjusted gross income (AGI) will greatly diminish the amount of assistance a student can receive. Nevertheless, a bit of planning prior to preparing the FAFSA can help you save thousands of dollars toward the cost of a college or technical education.

If you are a student (or the parent of a student) seeking to maximize your chances of receiving federal aid, be vigilant by using the resources available to you, which can help you to strategize and meet deadlines.

Behrends suggests, "Early tax preparation offers FAFSA filers a distinct opportunity to coordinate the lion's share of financial information required by applicants. Tax software, like TaxACT Deluxe, which contains a College Student Financial Aid Worksheet, is a valuable resource that can help students and their parents apply for financial aid. Plus, tax software helps them take full advantage of various tax credits, deductions and strategies, which can reduce the income reported to the IRS."

While any decision should be made with your financial advisor or accountant, some worthy strategies FAFSA filers should investigate to reduce cash assets and lower reported income include:

* Prepaying state taxes December 31. Paying a due amount by December 31 will reduce your cash assets and entitle you to an additional deduction on your 2006 tax return.
* Maximizing retirement saving contributions.
* Making charitable donations.
* Contributing to a Health and Dependant Savings Account (flex spending). Flex contributions are deducted from your gross income -- greatly reducing the amount of income you report to the IRS.
* Making purchases before the end of the year. Make a qualified energy efficiency improvement to your primary residence by December 31. You'll reduce the amount of cash you have on hand and, under the Energy Policy Act of 2005, you may get a tidy tax credit worth up to $500.
* Paying off /down loans. Making an extra payment toward the principal amount of your home loan. You'll pay less interest and build a nest egg in the form of home equity.
* Paying off bills. Paying for services upfront reduces cash assets and may entitle you to a discount. For example, many customers receive rebates from their automotive insurance provider by paying for the year in full.
* Sell bad investments by December 31. You can deduct up to a $3,000 capital loss ($1,500 if you are married and file a separate return) to offset capital gains.

Funding is on a first come, first served basis. File your FAFSA the second you are eligible -- the first minute of New Year's Day -- January 1. Not only will you increase your odds of getting federal aid, you may actually receive more financial assistance because the money pool has not been diminished. However, be forewarned, if you attempt to submit before January 1, the application will not be processed.

Courtesy of ARAcontent

Hole of Debt or Financial Mountain? How to Avoid Money Management Pitfalls

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:19:59 -0500

Hole of Debt or Financial Mountain? How to Avoid Money Management Pitfalls (ARA) - You see them on college campuses and at county fairs, people offering free T-shirts when you sign up for a credit card. You get offers in the mail every day - instant approval for the credit card of your choice. But just because you have access to seemingly unlimited credit does not necessarily mean you should take the credit card industry up on the offer.

"Over the years, I've seen many students, colleagues and acquaintances make some very serious mistakes by misusing readily available credit and uninformed borrowing," says Larry Lazofson, professor of business administration at DeVry University, Columbus. Lazofson offers these tips to start young people off on the right financial footing:

* It's Your Responsibility to Know What You Can Afford

Never rely on a lender to determine how much debt you can manage. There are lenders who will readily extend enough credit to place you in a cash-strapped position where a large chunk of your earnings will go directly to paying their interest.

Every borrower needs to carefully review their finances to determine how much debt he or she can safely and comfortably afford. A simple debt-to-income calculator can be found at www.bankrate.com. It is your responsibility, as a borrower, to do the research on how much debt a person at your income level can handle.

"I can't even begin to tell you how many credit card offers I received when I was a student," says Ronna DiBuono, a recent college graduate, now working as a marketing and communications professional in Pittsburgh. "I had friends that took everything they were offered, but I did my homework and knew the consequences. I passed on most of the offers so I wouldn't have financial problems before my career even started."

* Build a Financial Mountain or Dig a Hole of Debt

When you save money and earn interest your investment compounds over time, like a snowball rolling downhill that becomes bigger the further it goes. Too many people borrow money to purchase things that lose value such as designer clothing, electronics and expensive cars. Putting lots of consumer goods on your credit cards can saddle you with debt for years and sap your personal savings.

And what happens to the trendy, chic stuff put on the credit card? It ends up in a box in the closet or in the trash while the debt lives on. It's always a better investment to save and build interest rather than spend and pay interest.

*There is no Easy Escape

Some people, when drilling themselves deeper into debt, believe that filing for bankruptcy will allow them to escape their financial troubles. Federal bankruptcy laws were revised in 2005, making it much harder to erase debt by filing for bankruptcy. If a college student plans on finding a good, professional job after completing his education, he should think twice before attempting to file for bankruptcy. Many employers do background checks and will not hire an employee with a poor history of managing finances.

"College students already make important sacrifices that will pay off both professionally and financially in the future. Students need to understand that taking advantage of easy credit is not worth the risk," says Lazofson. "Young adults bound for college, students and everyone, for that matter, need to carefully consider their consumer purchases, especially if making them on credit, and instead choose to invest in themselves and in the future."

For more information about DeVry University and its finance and business administration offerings, visit www.devry.com.

Courtesy of ARAcontent

Extra Precautions Help Prevent Identity Theft During Tax Season

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:18:52 -0500

Extra Precautions Help Prevent Identity Theft During Tax SeasonTips for Secure Filing Electronically and Through the Mail (ARA) - For most Americans, tax season means frustrating hours spent with piles of paper, but for identity thieves, this time of year provides an open-door opportunity to steal your personal information.

Identity theft is a crime that has gained momentum in recent years, claiming more than 23,000 victims each day. While it's important to protect confidential information year-round, people are especially vulnerable to the crime during tax season.

From W-2 forms to old pay stubs and investment information, Americans send and receive a large quantity of confidential information that is a gold mine for identity thieves.

"Similar to the holiday shopping season, tax time provides a variety of opportunities for identity thieves," says Jay Foley, executive director, Identity Theft Resource Center. "It is essential that consumers are cautious when handling their tax-related information."

In recent years, more people have turned to electronic filing for added convenience. In fact, according to the IRS, the 2007 tax-filing season set a record for the number of electronic filers with more than 75 million tax forms filed online.

While e-filing may offer a simplified approach to an already dreaded filing process, it may also give consumers a false sense of security when it comes to protecting against the crime. Similar to mail filing, consumers must still collect necessary paperwork required to complete tax forms.

"The convenience of e-filing doesn't decrease consumer's vulnerability to identity theft during tax season," says Nancy Heaton, senior global marketing manager at Fellowes, Inc., the leading shredder manufacturer. "In reality, the same amount of paperwork is required for tax back-up. That's why it's essential for consumers to shred any papers containing confidential information that are used to file their taxes."

It's also critical to properly store and destroy sensitive back-up documents used during tax season. Once you have determined what you need to keep and what can be destroyed, make sure you properly dispose of this sensitive information. Shredding is one of the most effective ways to get rid of confidential information you no longer need.

When destroying records, it's best to use a shredder that features cross-cut capabilities, such as the Fellowes PS-77Cs, which ensures private information is reduced to small, unidentifiable pieces, making it nearly impossible for thieves to piece the information back together.

In addition to shredding, below are several tips people should consider this year to ensure tax season is more manageable.

Filing Taxes the Old Fashioned Way: Through the Mail
* Keep tax paperwork and other documents in a safe and accessible place, such as a fireproof box in your home.
* Regularly check the mailbox for W-2 forms and other documents containing sensitive information that arrive by mail. If you don't receive these documents by Feb. 15, contact the IRS for assistance at (800) 829-1040 as missing forms may be an indication that an identity thief went through your mail.
* Send completed tax returns from a locked mailbox or the post office. If mailing from home, do not put the mailbox flag up. This only alerts identity thieves that there may be an outgoing check in the mail.
* Make sure tax forms, backup documents and enclosed checks are not visible from the outside. Try wrapping your forms in an extra sheet of paper to disguise the contents of the envelope.

Filing Taxes Online
* Choose a tax filing service you are familiar with. The IRS doesn't offer software or direct filing, but it provides a list of approved companies at www.irs.gov/efile.
* Make sure personal computers are protected with updated firewall and secure software systems which contain antivirus and anti-spyware programs.
* If you are storing important tax-related documents on your computer, change your passwords frequently between December and April.
* Ensure that every Web site you are using during tax filing is encrypted to protect personal information when transmitted.
* Once you have submitted your tax forms, shred any information you no longer need.

For additional identity theft prevention tips and information on how long to keep financial records, visit www.fellowes.com or check with your tax professional.

Courtesy of ARAcontent

Retiring? Top Six Things to Consider Before You Leave Your Job

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:17:43 -0500

Retiring? Top Six Things to Consider Before You Leave Your Job (ARA) - It's always a good time to take a fresh look at our financial future -- including how we plan for retirement.

For the 76 million baby boomers approaching retirement age, preparing for the golden years may mean making several important decisions while still in the workforce to help ensure that they will have enough money to live in retirement. As retirement looms closer, the overwhelming possibilities can leave many people uncertain about where to start.

To help Americans get started -- and perhaps focus on their retirement plans as part of their New Year's resolution -- Prudential Financial has identified six important financial considerations to think about before retiring.

"Just as the boomer generation has redefined history and culture, they will also change the nature of living in retirement," says Jill Perlin, vice president, Prudential's Retirement and Wealth Planning group. "Boomers and younger workers who understand what to do -- and take action -- before they leave the workforce may have many more choices available to them during their retirement years."

The Top Six

1. Define your retirement -- Your vision will drive your plan. Some may decide to work part-time, launch a completely new career, or perhaps go back to school, volunteer or develop new hobbies. Consider if you need to downsize, relocate or remain in your current residence.

2. Know where you stand financially -- Take inventory of your assets and possible income sources, and understand how your retirement plan will help provide you with income during your retirement years. Save as much as possible while still working.

3. Estimate your expenses in retirement, especially for healthcare -- Healthcare can be a significant expense category during your retirement years, so understanding what your healthcare plan covers in retirement is critical.

4. Manage asset allocation -- Regularly monitor and review your investments to ensure that they support your goals and to determine if you should change how assets are allocated among different investment types; consider professionally managed investments products.

5. Plan for your beneficiaries -- Create a will, choose a guardian if needed, and select who will manage your estate.

6. Explore options to create a retirement income -- Research product strategies that can help generate a guaranteed retirement-income stream, including the new generation of variable annuities that can provide guaranteed streams of income for life while still affording degrees of flexibility and control. It may be advantageous to purchase these products while you are still working.

According to Perlin, it's never too early or too late to start taking these tips into consideration. "People who are nearing retirement need to think about how to help grow, protect, and convert their assets into retirement income -- and that can take some time. Being engaged in this process while still working allows boomers more flexibility to course-correct, if necessary."

For more information about important retirement considerations and choices, review and download a copy of "The Fourth Pillar: Retirement Choices" brochure at Prudential's Web site, www.prudential.com.

Courtesy of ARAcontent

FHA: Old Mortgage Program Finding New Life

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:16:29 -0500

FHA: Old Mortgage Program Finding New Life (ARA) - The sky is falling, the sky is falling! Or so you would think if you listened to all the news coverage about the mortgage market. The news is filled with reports of declining home values, resetting adjustable-rate mortgages and people feeling the pinch of tightened credit.

However, despite the doom and gloom, much of the media haven't reported on the proverbial silver linings in the storm clouds. One of the bright spots is the resurgence in popularity of a loan program that has been around since the 1930s -- the Federal Housing Administration (FHA) loan.

Historically used almost exclusively by consumers to purchase their first home because of its low down payment requirements and competitive rates, FHA loans are making a comeback and quickly gaining prominence among those looking to refinance as well.

"A large number of people are really benefiting from the FHA loan program, and what is most interesting is many of them have just recently been turned down for more traditional conventional loans," says Bob Walters, chief economist for Quicken Loans, one of the nation's largest mortgage lenders. "This program isn't the answer for everyone, but we have found that it can be a very viable option for many people."

According to Walters, FHA loans are being used by consumers for cash-out refinancings, or to consolidate debt up to 95 percent of the home's value -- moves that are extremely difficult and often not financially practical to make with current conventional lending guidelines.

"Through the first half of 2007, homeowners had no problem making their mortgages work for them. However, since that time, tighter lending guidelines have resulted in many loan programs being taken off the table. Fortunately, FHA loans can fill some of the void. When used responsibly, FHA loans can provide much-needed relief. Every day, we help clients purchase homes, pay off medical expenses, eliminate high-interest credit card debt and generally improve their financial position through the FHA program," Walters adds.

Consumers are also finding that in some instances, FHA loans can close very quickly, in less than 14 business days in some cases.

"The bottom line is that FHA loans are an option for many folks, but not for everyone. It is very important that every homeowner consult with a reputable lender who will listen to their needs and goals, and then suggest the best mortgage for them. In some cases it could be an FHA loan, and in others it may be a conventional fixed or adjustable rate mortgage. What is important is that the loan actually works for the consumer and puts them in the best possible financial position," Walters concludes.

For more information about FHA loans, visit www.QuickenLoans.com/FHA.

Courtesy of ARAcontent

Start-Up Advice for Women Business Owners

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:15:00 -0500

Start-Up Advice for Women Business Owners (ARA) - Whether you're starting from scratch, purchasing an existing business or looking to buy a franchise, the starting point is always a significant hardship. In today's business world, women are faced with unique challenges when starting a business, due to ongoing stereotypes that portray women as a higher loan risk.

Karen Lackey, MBA, Business/Technology department program chair at Brown Mackie College - Findlay in Ohio, explains that while challenges do exist, women business owners can achieve success in the modern entrepreneurial world.

"It has been my experience that women face both financial and emotional hardships in opening their own business," says Lackey. "Despite the strides women have made in the workforce, there are still some obstacles for women wanting to open their own business. For instance, obtaining financial backing is still a struggle. Banks are leery about loaning out larger amounts of money to women. In addition, women still have the obstacle of overcoming the typical stereotypes of women not being able to compete in a ‘man's world.' "

According to Lackey, since the early 1980s, women have made solid strides in becoming prosperous entrepreneurs. More than 20 years ago, female business owners were few and far between, especially in male-dominated industries, such as automotive and wood working. Now it is not uncommon to find female entrepreneurs owning businesses ranging from auto body shops to nail salons.

What tips or resources would Lackey offer for first time female business owners as they strive for success? "My suggestion is to do as much research as possible about the industry you're entering and local competition before jumping in," advises Lackey. "Don't be afraid to take risks and always walk with your head held high."

There are also many associations, such as the National Association of Women Business Owners, which can help women at all stages of business to be more connected, more empowered and more successful. Such organizations provide business referral network opportunities, with personal interaction at monthly meetings and events, business education, and online connectivity and visibility.

The glass ceiling of stereotypes and discrimination is best surpassed through research, dedication, risk-taking, confidence, knowledge, and proactive planning, Lackey says. "Remember, the key to a successful business start-up is not narrowed down to a simple formula; it differs for every individual. Assess your situation and finances, do your research, formulate a structured plan of recourse, and don't be afraid to take a chance."

To learn more about Brown Mackie College, visit http://www.brownmackie.edu online.

Courtesy of ARAcontent

Don’t Let Thieves Steal Your Identity

John And Marena Murray (Keller Williams Realty) — Sat, 22 Mar 2008 15:13:33 -0500

Don't Let Thieves Steal Your Identity (ARA) - In the last five years, more than 27 million Americans have had their identity stolen and, experts predict, more than 50 million Americans will fall victim to identity theft in the next five years.

Colorado professor Anita Jantz is one of those unfortunate enough to have had their identity stolen. While searching online for a fixed rate mortgage, Jantz provided her Social Security number to two or three companies she felt could offer her a good rate. Months later, when applying for the mortgage, a loan officer reviewed her credit report and shared shocking news.

"In addition to my current mortgage, two more were recently added. After further investigation, I also discovered three additional mortgages. In total it was almost $1 million of loans," Jantz says.

Jantz spent months filing police reports and making dozens of phone calls then signed up with ID Watchdog, an identity theft monitoring service.

"We need to understand that prevention isn't a feasible concept now," says Justin Yurek, president of ID Watchdog. "If a thief wants your identity, they'll get it. No matter how careful you are they could hack into a database, they could physically steal a laptop, there is no guarantee."

Even when consumers frequently check their credit reports they can become victims because 70 percent of identity theft crimes have nothing to do with credit reports. "A thief could steal your wallet with your driver's license in it and commit a crime, open a P.O. Box, get a cell phone, put utilities in your name. That has nothing to do with credit," says Yurek.

According to the United States Federal Trade Commission, identity theft is the fastest growing crime in the country. It cost businesses and consumers more than $56 billion in 2005 and most people do not discover their information has been stolen until 12 months after a thief first uses it. Worse, fewer than one in 700 identity theft crimes lead to a conviction.

Despite that, taking preventative measures is still worth the time. The FTC recommends taking the following steps to minimize your chances of having your identity stolen.

* Shred financial documents and paperwork with personal information before discarding them.
* Do not carry your Social Security card with you and do not write your Social Security number on checks.
* Do not click on links in unsolicited e-mails. If an e-mail appears to be from your financial institution asking for personal information, go to the organization's official Web site and/or call to ask if the e-mail is from them.
* Computer, credit card and banking passwords should not be obvious. Avoid using your mother's maiden name, any part of your Social Security number or your date of birth as your password.
* Stop the pre-approved credit card offers. Calling (888) 5 OPT OUT removes your name from the marketing mailing lists of all three credit agencies.

Since there is currently no foolproof way to guarantee your identity won't be stolen, stay alert for signs that someone may be using your identity.

* If you fail to receive bills or other mail on time or as expected, call the sender directly. A missing bill could mean an identity thief has taken over your account and changed the mailing address.
* You begin receiving credit cards you did not apply for.
* You have been denied credit or are receiving less favorable credit terms -- a higher interest rate or lower credit limit than you've received in the past.
* You begin receiving calls from debt collection agencies or businesses regarding merchandise you did not purchase.

FTC statistics show that once a consumer becomes a victim of identity theft, the average time spent repairing the problem is between 400 and 600 hours. Companies like ID Watchdog can save time and hassle by offering identity theft monitoring and prevention.

The services scrutinize customer information and guarantee that if thieves slip something past, the company will fix any problems the customer experiences and help them regain and retain their identity.

"ID Watchdog doesn't just look at reports from three credit bureaus, we monitor thousands of databases because only 30 percent of identity theft victims get hit in ways that show up on credit reports," Yurek says. The service also educates consumers about how their personal information -- name, date of birth, Social Security number, phone number and address -- show up in databases all over the world, information most consumers just don't have access to.

Further information on identity theft can be obtained from the FTC online at www.ftc.gov and a free trial of the ID Watchdog service is available at www.idwatchdog.com or by calling (866) 416-0783.

Courtesy ARAcontent

Customer Service

John And Marena Murray (Keller Williams Realty) — Wed, 12 Mar 2008 20:42:23 -0500

Customer Service

One thought that always comes to everyone's mind when the word salesperson is mentioned is "pushy". If you really want to be great in sales, you need to be just the opposite of that. You need to be "pullee." So, what's the difference between pushy and pullee? A pushy person is that interesting extrovert who is always pushing people with statements of fact. Whereas, a pullee person is always asking a lot of questions and is an eloquent listener--not only to the verbal messages, but the non-verbal things that are being communicated.

In order to curb that image of "pushy", I would like to cover with you now, what I call the Seven C's of Effective Customer Service.

All of our research has shown that the people who will stay in business and prosper through the next decade are people that live seven words. If you take these seven C-words and make each one a part of your make-up and a part of your daily business, you'll not only prosper, but you will build that wonderful referral base we are all after.

The first C stands for Concern. I think people want to know that you are more concerned with serving them, more concerned with helping them, more concerned that they are happy, more concerned they want a long term relationship with you than making the sale and getting the check. They want to feel that concern and many people in sales don't get the dollar signs out of their eyes. If a person feels you need the sale and they feel pressure to purchase a home they are not ready to commit to, they will fight you because they want your concern.

The second C is Competence. People demand competence today. They expect you to be an expert. They want you to know your trade and your profession. They want to be able to rely on your professionalism.

The third C is Courtesy. Great people in sales are very polite. They are concerned about their manners, and they are very concerned about their vocabulary. They don't in any way insult a person's values by saying anything that might offend them. Now our society is constantly changing it expectations for business behavior. Sadly, those expectations are often lowered, but I really believe the highest paid people in the real estate business are very polite, very courteous and watch their vocabulary so they don't insult the values of the person they are speaking with.

The fourth C is Commitment. This is one I find lacking in the real estate industry today. People are not willing to really commit and dedicate themselves to become the very best. They aren't willing to commit the time and effort to really achieve their goals. As you read this, I hope you realize that the top professional makes a commitment--it's called being willing to get out of balance for a period of time so that someday they can have complete balance. I believe in balance in our lives today, but I also believe that in building a real estate business you have to be willing to spend some time out of balance. That means if you have a family, you need to sit down with the family and say, "We are going to commit 24 months of putting in more time and effort. And, if I do everything that I have to do as a professional, I can work less time with much more income for the family. This will come about only because we are willing to make this commitment."
And of course, the fifth C is Composure. It's important that we don't allow ourselves to get upset and frustrated with this business. Realize that you are not really in the real estate business--you are in the people business and have chosen a vehicle called real estate. But in the people business you can get messed up if you don't keep your composure.

And of course, the next C is Consistency. Every professional I have ever trained that has gone on to be one of the best is consistent. They know exactly how many contacts they need to make each day. They know exactly the number of calls, exactly the number of people they are going to visit, which will result in so many homes sold and they make that commitment to consistency.

And the seventh C is Creativity. The people I meet that do the best are very creative people. In other words, if they have a challenge, they overcome it by being creative. If something is wrong in their life, they handle it by being creative. If you have a sale that is about to fall out or cancel, get creative. If it doesn't go through, don't get depressed--become more creative. Approach it with the attitude that you will take what you learn from this opportunity and develop your creativity.

By concentrating on our customers' needs and giving them the proper service they deserve while searching for a home, I hope we can become more "pullee" and give them the opportunity to see our concern for them along with the other C's of customer service!

Buying A Home

John And Marena Murray (Keller Williams Realty) — Mon, 28 Jan 2008 22:33:17 -0600

Buying a Home

Whether you've spent years saving and preparing to buy a home, or are unsure if you can afford it, the questions surrounding a house purchase can feel endless.

You can find the answers - and peace of mind - by working with RE/MAX, the industry leader in experience and service.

Here are some tips to help you become your own landlord.

Hire a real estate professional.
An important first step is selecting a professional to help you find your dream home and fine-tune your financial expectations. Working with a buyer's agent is worth consideration because he or she is legally responsible for representing the buyer's interest in a real estate transaction. Before making a decision, however, have a Realtor explain the pros and cons of using a buyer's agent versus a sales or dual agent. Your RE/MAX Associate can guide you through every step of buying a home.
Shop for mortgage rates and terms.
A difference of even half a percentage point can mean a considerable savings over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.
Prequalify for a loan.
Also early on, you'll want to get prequalified for a mortgage loan, which determines how much you can afford. It allows you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and can afford to buy the property.
Outline what you want.
The next step is to create a realistic idea of the property you'd like to buy. What features are most important to you? Make two lists: one of the items you can't live without and one of the features you would enjoy. Refine the lists as you house hunt. It is also helpful to search online to see what is currently available on the market. Your real estate professional can then show you houses that meet your expectations.
Visit properties.
Now you're ready to visit houses. Ask your RE/MAX Associate to arrange showings, and be sure to keep track of the properties you've seen. Each time you venture out to see more properties, revisit your notes to immediately eliminate any that clearly do not meet your standards.
Know the features that help or hurt resale.
In some areas, a swimming pool actually detracts from a home's value and makes it harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may affect the home sale and future value. Your RE/MAX professional can point out features that hurt or help resale value.
Rate the houses you tour.
After touring each home, write down what you liked and didn't like. Develop a rating system that will help narrow the field. For example, pick the house you like best on day one and compare all other houses to it. When you find a better one, use the new favorite as the standard. Avoid trying to track more than four top choices at any given time since this can quickly become overwhelming.
Make an offer.
Once you've pinpointed your dream house, it's time to get serious about the financial and contractual side of the purchase. Let your RE/MAX Associate guide you through this sensitive process. Because you and the seller have different goals, rely on your RE/MAX agent's experience and expertise can bring order and calm to the process - and help both parties reach a favorable outcome.
Arrange for a home inspection.
After your offer is accepted, set up a home inspection. It's common to find problems, including leaky roofs, cracked walls, insect infestations and foundation problems. Your real estate professional can help find a reputable inspector, and will negotiate to get you the most for your money once the inspector's report is final. If you negotiate repairs as part of the purchase, ask for a "walk through" before finalizing the paperwork. Ask your real estate expert about home protection plans, which may save you money in the near future.
Close.
Before your closing date, make sure you've made all necessary deposits and completed the paperwork - including mortgage, title, homeowners insurance and any other paperwork required by local or state governments. Your RE/MAX agent will be there to help you complete that closing checklist and avoid any last-minute snags. You deserve to enjoy every moment of the homebuying process.
Prepare for life in your new home.
Before rolling out the welcome mat, consider some moving basics: arranging for an alarm company, turning on electricity, water and gas, cleaning or replacing the carpet, and notifying your local post office of your new address. The best time for renovations is often before you move in.

Selling A Home

John And Marena Murray (Keller Williams Realty) — Mon, 28 Jan 2008 22:32:12 -0600

Selling a Home

As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you'll help your RE/MAX Sales Associate sell your home faster, at the best possible price.

The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help you get everything in order - from repainting the kitchen to providing a thorough cleaning.

Make the Most of That First Impression
A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted - or at least freshly scrubbed - front door. If it's autumn, rake the leaves. If it's winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better.
Invest a Few Hours for Future Dividends
Here's your chance to clean up in real estate. Tidy the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor touch-ups and redecorating. Updating the hardware on kitchen cabinets, adding new slipcovers to sofas and keeping a vase of fresh flowers in the entryway are some simple touches that can go a long way. If you're worried about time, hire professional cleaners or painters to help get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
Check Faucets and Bulbs
Dripping water rattles the nerves, discolors sinks and suggests faulty or worn-out plumbing. Burned-out bulbs or faulty wiring leave prospects in the dark. Don't let those problems detract from what's right with your home.
Don't Shut Out a Sale
If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect's mind. Don't try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a closing.
Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low-hanging overhead lights. Make your residence as safe as possible for visitors.
Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They're looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.
Consider Your Closets
The better organized a closet, the larger it appears. Now's the time to box up those unwanted clothes and donate them to charity.
Make Your Bathroom Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats and shower curtains.
Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
Open Up in the Daytime
Let the sun shine in! Pull back your curtains and drapes so that prospects can see how bright and cheery your home is.
Lighten Up at Night
Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
Avoid Crowded Scenes
Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.
Watch Your Pets
Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.
Think Volume
Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.
Relax
It's best if you're not there when your home is being shown. However if that's not possible, be friendly - but it's not necessary to force conversation. Prospects want to view your home with minimal distraction.
Don't Apologize
No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let your experienced RE/MAX Associate handle the situation.
Keep a Low Profile
Nobody knows your home as well as you do. But RE/MAX Sales Associates know buyers - what they need and what they want. Your RE/MAX Associate will have an easier time articulating the virtues of your home if you stay in the background.
Don't Turn Your Home into a Second-Hand Store
When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
Defer to Experience - It's the Experience®
When prospect buyers want to talk price, terms or other real estate matters, let them speak to an expert - your RE/MAX Sales Associate.
Help Your Agent
Your RE/MAX Associate will have an easier time selling your home if showings are scheduled through his or her office. You'll appreciate the results!

Slight Economic Growth Forecast For Ventura County

John And Marena Murray (Keller Williams Realty) — Wed, 09 Jan 2008 17:11:06 -0600

Ventura County's economy will come to a near-standstill in 2008.

The real gross county product, a measure of economic growth, grew by 4.5 percent in 2006 and is expected to grow 1.4 percent in 2007. The forecast is 1 percent for 2008.

Real gross county product is the value of goods and services produced annually in the county and adjusted for inflation to give a true sense of how the economy compares year over year.

"Because of (layoffs at) Amgen and Countrywide, we've significantly downgraded our forecast for Ventura County," said Bill Watkins, executive director of the UC Santa Barbara Economic Forecast Project. "It's a huge decrease in growth rates. ... For businesses, it's pretty hard to tell between 1 percent and 0 percent."

Watkins is presenting an economic forecast today for the city of Oxnard, but the report touches on conditions countywide. It is the first economic assessment since news hit about job cuts at Amgen Inc. and Countrywide Financial Corp., the county's two largest private employers.

Close attention is being paid to this year's report, said leaders of the organizations sponsoring the event - the Oxnard Chamber of Commerce and Economic Development Corp. of Oxnard.

"The Chamber of Commerce is always looking at the challenges presented to our community ... for those who live here, those who work here and employers who provide jobs here," said Nancy Lindholm, chamber president and chief executive. "It's all about quality of life and a healthy economy."

Home sales fall 30 percent

Watkins said Countrywide and Amgen cuts will mean decreased demand for goods and services, weak job growth and a decrease in home demand. Median home prices could fall as a result.

Ventura County's home sales have dropped by about 30 percent from 2006 to 2007.

Restructuring at Countrywide and Amgen could cause the median home price for single-family homes in Ventura County to decline in real value adjusted for inflation by 10.7 percent in 2008. That shakes out in actual dollars from a 2007 median home price of just under $670,000 to a median of $624,100 in 2008. The median is the midpoint, where half the sales are more and half are less.

Home sales are expected to rebound next year.

The good news for the county is the economy will start to pick up again fairly quickly by 2009, according to the forecast, which predicts real gross county product growth of 3.7 percent that year.

Still, there's a lot of uncertainty. Ventura County is expected to rebound slower than elsewhere in the state because of the after-effects of the layoffs, Watkins said.

Steve Kinney, president of the Economic Development Corp. of Oxnard, said his general sense was that Oxnard and other west county cities would be hurt less from the Countrywide and Amgen cutbacks than cities in the east county.

"Our economies are not so closely bound up directly in the fortunes of those companies as the east county cities," he said. "That's not to say that we are immune."

Particularly with the housing market, Kinney expects the hits will come first in the east county and then ripple outward through the county.

Oxnard in better shape

In past years, Watkins described Oxnard as the city with "the most dynamic and well-balanced economy in the Tri-Counties," said the chamber's Lindholm. "I'm not getting the feeling we're going to hear any of that good news this year."

Oxnard should ride out the down economy better than some other parts of the county, Watkins said.

The city has grown more rapidly than the rest of the county in recent years, and that's expected to continue. Oxnard's real gross product for this year is expected to be a "healthy" 4 percent gain from 2006, according to Watkins' report. It is forecast to grow 4.3 percent in 2008.

Kinney said Oxnard has been able to encourage new business because it had more land available for development than other cities. New residential development is drawing in new retailers, providing job growth for the city.

"The growth is certainly a trend that is powerful enough to stay in place over the years," Kinney said. "The slope line is definitely upwards, it's just a matter of what angle the line is riding at the moment."

Watkins said Oxnard has Naval Base Ventura County and the Port of Hueneme, which are economic engines of their own, boosting the city's economic strength. It also has a good industrial base to draw on and relatively inexpensive work force. The city's average salary in 2007 is an estimated $39,620, though it ranges from an average of $22,533 in agriculture to $107,227 in mining.

Another meeting slated

Four things could have an effect on Oxnard's economy going forward, Lindholm said. They include the real estate market, Countrywide, Amgen and a traffic initiative before Oxnard voters that would halt development within five miles of congested intersections until the problem is corrected. A study commissioned by the city showed it would halt 10 pending projects with a combined value of $7.2 billion.

Westlake Village

John And Marena Murray (Keller Williams Realty) — Sun, 20 May 2007 14:31:37 -0500

History of Westlake Village

Settled snugly on the western edge of Los Angeles County, the city of Westlake Village is 9 miles inland from the Pacific Ocean and 38 miles west of downtown Los Angeles. Occupying only 5.4 square miles, averaging 900 feet above sea level, the community is framed by the Simi Hills to the north and the Santa Monica Mountains to the south.

About 3,000 years ago, Chumash Indians moved into the region and lived by hunting rabbits and other game, and gathering grains and acorns. On-going excavations, archaeological sites, and polychrome rock paintings in the area provide a glimpse into the social and economic complexity of the ancient Chumash world. In 1770, Captain Gaspar de Portola led a party of Spanish explorers and missionaries, traveling north on the route that became known as the El Camino Real. The party camped near a Chumash village, believed to be the site of present-day Westlake Village. Father Juan Crespi, chaplain and diarist of the expedition wrote: "We are on a plain of considerable extent and much beauty, forested on all parts by live oaks and oak trees, with much pasturage and water." When the Spanish finally did settle the area, they were given huge land grants, the largest of which was Rancho Simi, given to the Pico family. When Mexico won independence from Spain in 1821, California became a territory of Mexico, and a few more land grants were given. When California was admitted to the union in 1850, most of the land that later became Ventura County was divided among only 19 families. The picturesque future Westlake Village site among rising knolls, arroyos, barrancas and ancient oaks was recognized as the central part of two Mexican land grants: Rancho El Conejo and Rancho Las Virgenes. In 1881, the Russell brothers purchased a large portion of the land for cattle ranching. According to Patricia Allen, historian and family descendant, Andrew Russell beat the competition in buying the land by racing across 6,000 acres on a fifteen-minute trip in a buckboard, and sealed the deal with a $20 gold piece. The price per acre was $2.50! The area continued to be known as the Russell Ranch although it was sold in 1925 to William Randolph Hearst and again in 1943 to Fred Albertson. The Russell family leased back part of the land to continue their successful cattle ranch operation while the Albertson Company used the vast acreage as a movie ranch. Many movies and television shows were filmed here, including "Robin Hood," "King Rat," "Laredo," and various episodes of "Tarzan," "Buck Rodgers," "Gunsmoke," and "Bonanza."

In 1963, the American-Hawaiian Steamship Company bought the 12,000-acre ranch for $32 million and, in partnership with Prudential Insurance Company, commissioned the preparation of a master plan for a "city in the country". Prominent architects, engineers, and land planners participated in designing a unique, integrated community that has become a nationally acclaimed model for the planned community concept. "The city in the country" was named Westlake Village and soon became recognized as one of America's most successful suburbs and finest areas to live, work and raise a family.

Today, a population of 8,800 resides within this beautiful, natural environment of award-winning neighborhoods, thriving businesses, and enviable lifestyles. The original master-planned community of Westlake Village is transected diagonally by the Los Angeles and Ventura County line. The Los Angeles County side, consisting of 3,456 acres, was incorporated as the City of Westlake Village in 1981 and became the 82nd municipality in Los Angeles County. The Ventura County side, comprised of the remaining 8,544 acres of the original Russell Ranch, was annexed into the City of Thousand Oaks in two portions in 1968 and 1972. Today, both sides of Westlake Village, with an area population estimated at 30,000, identify as a single community despite the county boundary that separates them. The wisdom of the master planners in preserving, protecting and enhancing the natural environment of the area is evident today in the consistent growth and vitality of Westlake Village. Residents and businesses receive high quality community services operated on a contract basis with private and public agencies and overseen by a 5-member elected City Council and an appointed City Manager. Under the protection of Los Angeles County Sheriff's Department, the city consistently maintains one of the lowest crime rates in the nation. Although the city is almost built-out, residents and officials look forward to the completion of a new resort hotel and health spa in the next few years.

Westlake Village

The City of Westlake Village is a Los Angeles County municipality created in 1981. Located on the eastern side of the Ventura/Los Angeles County line, Westlake Village was formed in 1966 by the American Hawaiian Steamship Company. It includes a total land area of 5.4 square miles and a population of 8,836. Less than nine miles from the Pacific Ocean and 38 miles west of downtown Los Angeles, it is approximately 900 feet above sea level. The community is framed by the Simi Hills to the north and the Santa Monica Mountains to the south.

The City of Westlake Village is located in the heart of the Ventura Freeway (Highway 101) "Technology Corridor". The Corridor stretches along the freeway from Calabasas westward through the Oxnard plain, and is recognized as one of Southern California´s major R&D and technology growth areas. A host of high-tech manufacturing and Research and Development firms, biotechnology companies and healthcare organizations are located here, including the corporate headquarters of Dole Food Company and K-Swiss.

Events and activities include Summer Friday Fun Nights with concerts, shows and entertainment at the Westlake Village Civic Center. There are also play for children and a variety of camping, hiking, bicycling and other sports available.

      Native settlers include Chumash Indians. In 1770, Captain Gaspar de Portola led a party of Spanish explorers and missionaries, traveling north on the route known as the El Camino Real. The party camped near a Chumash village, believed to be the site of present-day Westlake Village. Father Juan Crespi, chaplain and diarist of the expedition, wrote: "We are on a plain of considerable extent and much beauty, forested on all parts by live oaks and oak trees, with much pasturage and water".

      Spanish settlers were given huge land grants that included the largest Rancho Simi, given to the Pico family. Westlake Village was recognized as the central part of two Mexican land grants: Rancho El Conejo and Rancho Las Virgenes. In 1881, the Russell brothers purchased a large portion of the land for cattle ranching. The area was sold in 1925 to William Randolph Hearst and again in 1943 to Fred Albertson. The Russell family leased back part of the land to continue its successful cattle ranch operation while the Albertson Company used the vast acreage as a movie ranch. Many movies and television shows were filmed here, including "Robin Hood," "King Rat," "Laredo," and various episodes of "Tarzan," "Buck Rogers," "Gunsmoke," and "Bonanza."´

      In 1963, the American- Hawaiian Steamship Company bought the 12,000 acre ranch for $32 million in partnership with Prudential Insurance Company and commissioned a master plan for a "city in the country." The original master-planned community of Westlake Village is transected diagonally by the Los Angeles and Ventura County line. The Los Angeles County side, consisting of 3,456 acres, was incorporated as the City of Westlake Village in 1981 and became the 82nd municipality in Los Angeles County. The Ventura County side, comprised of the remaining 8,544 acres of the original Russell ranch, was annexed into the City of Thousand Oaks in two portions in 1968 and 1972.

      With Santa Monica Mountains National Recreation Area adjacent to Westlake Village, a variety of nature trails are available for hiking, mountain biking, picnics, horseback riding and camping. Westlake Village maintain numerous scenic sidewalks, green belts, and protected bike lanes. Visitors can enjoy these outdoor activities plus golfing, tennis, swimming, fishing, boating and sailing.

      Westlake´s 150-acre lake is stocked with bass, blue gill and catfish. Docking privileges, fishing licenses, boating and sailing are available to residents. Nearby commercial harbors offer sports fishing, whale watching and tours to Channel Islands National Park, five islands that begin just 12 miles off the mainland, where the marine sanctuary contains giant kelp forests that shelter more than 1,000 species of ocean life. Hiking and camping is permitted on all the islands and there are many sea caves and deserted coves that attract snorkeling and scuba diving, as well as kayaking and boating. Many excellent state and county beaches and campgrounds are scattered along the coastline just 9 miles across the Santa Monica Mountains. Swimmers, sunbathers, and surfers enjoy nearby Malibu, Point Dume, Zuma, Leo Carrillo, County Line, Sycamore Cove and Point Mugu beaches. Birdwatchers can watch migratory birds heading south for the winter. Herons and egrets in the protected areas.

      11 public golf courses, 10 tennis courts and several swimming pools are open to the public. The Conejo Recreation and Park District manages 33 developed parks, 5 play field parks, and 1 district-wide park in addition to the 1,300 acre Wildwood Park, 12,000 acres of open space and 75 miles of trails. The District offers more than 2,500 organized recreation and leisure programs each year. Westlake Village manages three city parks and a recreation program as well. Organized sports available for youth through area organizations include soccer, football, softball, baseball, basketball, swimming, boating, and track and field.

      Buses into the Los Angeles area are provided by Rapid Transit District. Taxi and bus services are available within the local area. Greyhound Bus Lines pass through Thousand Oaks daily and maintain a flag stop. Metrolink commuter rail lines connect Ventura County with four other counties and are accessible from a station 10 miles north of Thousand Oaks in Moorpark, or from Simi Valley, 15 miles north of Thousand Oaks. Amtrak has a station and ticket office in Oxnard, about 30 miles west of The Conejo. Three commercial airports are located within a 45-mile radius: Los Angeles International; Burbank-Glendale-Pasadena Airport; and Oxnard Airport. Several bus, van and limousine services offer transportation to and from the Los Angeles and Burbank airports.

Courtesy of Beach California.

Marena Murray REALTOR

John And Marena Murray (Keller Williams Realty) — Sun, 20 May 2007 14:20:39 -0500

Marena Murray

When you are buying or selling property in today's real estate market, it's important to have confidence in your real estate professional. Our commitment as your local REALTORS is to provide you with the specialized real estate service you deserve.

When you are an informed buyer or seller, you'll make the best decisions for the most important purchase or sale in your lifetime. That's why our goal is to keep you informed on trends in the marketplace using the latest statistics in your local area. With property values continuing to rise, real estate is a sound investment for now and for the future.

As a local area expert with knowledge of the communities, our objective is to work diligently to assist you in meeting your real estate goals.

If you are considering buying or selling a home or would just like to have additional information about real estate in your area, please don't hesitate to call or e-mail us.

Thank you for visiting our website - please consider it as your online source for local real estate information, and return often for the latest property listing updates.

Ph: (805) 497-8305
Email: MarenaMax@Yahoo.com
Website: www.MarenaMurray.com

Thank you.

- John and Marena Murray

John Murray CMA

John And Marena Murray (Keller Williams Realty) — Sun, 20 May 2007 14:16:18 -0500

John Murray

John Murray of RE/ MAX Gold Coast Realtors has been asked to join a group of local real estate professionals known as Complete Marketing Advantage or "CMA." The group is a real estate networking group, formed in late 2000, which consists of Conejo Valley real estate agents working together to serve their clients' needs. This networking group goes above, beyond and over the top to market their clients' listings, find their buyers homes and do this in ways not available to other agents who are not part of the group. The CMA agent has a variety of areas for their advertising. The Acorn newspapers, the Mann Theatre and Homes & Land magazine are part of their networking sphere. CMA agents' spectrum of experience allows them to share their knowledge and education with each other.

Murray is an experienced broker/associate knowledgeable in the Conejo Valley/Ventura County real estate market. Call John Murray at (805) 497-8305.

Marena Murray REALTOR

John And Marena Murray (Keller Williams Realty) — Sun, 13 May 2007 14:39:22 -0500

Marena Murray

John Murray CMA

John And Marena Murray (Keller Williams Realty) — Sun, 13 May 2007 14:21:01 -0500

John Murray

Murray is an experienced broker/associate knowledgeable in the Conejo Valley/Ventura County real estate market. Call John Murray at (805) 497-8305.

Camarillo Named Fastest Growing City In Ventura County

John And Marena Murray (Keller Williams Realty) — Sat, 12 May 2007 00:09:58 -0500

Camarillo named fastest growing city in county
Village at the Park housing development drives growth
By Daniel Wolowicz camarillo@theacorn.com

For the second year in a row, Camarillo ranks as the fastest growing city in Ventura County, according to a recent report by the California Department of Finance.

The city's population grew an estimated 2.4 percent, from 64,075 last year to 65,601 as of January 2007, state records show.

Camarillo's growth spurt, primarily driven by the new Village at the Park development, may be deceiving, said City Manager Jerry Bankston.

Bankston said that because the state uses new housing units to estimate population growth as opposed to an actual person count, the numbers are typically not as accurate as a federal census- taken once every 10 years. The state's numbers, Bankston said, are usually inflated.

Because Camarillo has less than 70,000 residents even a relatively small increase in housing would make the city one of the fastest growing in the county even though the overall population numbers are far less than other cities.

Oxnard, the second fastest growing city, showed a 1.7 percent jump in population. That number, though, represents a population increase of more than 3,100 new residents, as compared to Camarillo's increase of about 1,500.

Bankston said that if Camarillo's growth was charted over a 10-year period, it would compare similarly to neighboring cities.

Although the city only allows a maximum of 400 new housing building permits per year to help manage urban growth, developers can "bank" their allotted permits and build the new homes at a later date.

The Village at the Park developers are still building homes granted permits nearly five years ago. City officials said the housing development is about 80 to 85 percent complete and that once the final homes are finished, Camarillo's growth spurt will slow.

In the case of the new Village at the Park, Bankston said the state's projected numbers are high because many of the development's new condominiums are typically occupied by single owners as opposed to a two- or three-person family.

John Murray, a broker associate and realtor for RE/MAX in Camarillo, said younger buyers from the San Fernando Valley and Los Angeles are moving to Camarillo because the development's condos offer first-time homeowners a chance to get into Southern California's pricey housing market.

"Village at the Park does provide the entry level home," Murray said. "There's a great demand for the young individuals who are moving there . . . (they) like newer housing."

Murray said Camarillo- much like the rest of Southern California- has seen about a 5 percent slowdown in the overall housing market. The average price for a Village at the Park home is around $825,000, slightly down from last year.

Regardless of the recent growth, the Pleasant Valley School Disrtict is in the midst of school closures caused by declining enrollment numbers.

Ventura County Market Forecast

John And Marena Murray (Keller Williams Realty) — Fri, 23 Mar 2007 16:33:53 -0500

2007 real estate
Housing experts remain optimistic
By Sylvie Belmond belmond@theacorn.com

RESIDENTIAL CONSTRUCTION--New housing starts and exisiting home sales in the area have dipped, but experts don't see the trend continuing for long, especially with interest rates low.

The housing market softened in 2006, but professionals aren't anticipating a long-lasting slump. The market is only normalizing itself, experts say.

"The circumstances bringing the real estate market into balance are happening unusually quickly," said Glen Scalise, president of the Conejo Valley Real Estate Association and broker-owner of Century 21 Rolling Oaks in Thousand Oaks.

In some area cities, oversupply is a key ingredient that has prompted housing sales to level off, yet prices haven't dropped significantly because east Ventura County and the Las Virgenes corridor are still desirable areas for homebuyers.

"The general trend is that sales of existing homes are down by 30 percent or more," said Bill Watkins, executive director for the Economic Forecast Project, a research program of UC Santa Barbara that provides the community with information on economic, demographic and regional business trends.

"What's been surprising is that the transaction drop has not translated into a large price drop," Watkins said. Prices have remained relatively steady because the job market in the area is stable.

"We're not experiencing a large job loss; in fact we are seeing a job gain."

The economy remains strong and interest rates low, said Watkins, who predicts home prices will stay relatively unchanged in 2007.

Others take a more bearish view.

John Murray, a Realtor with RE/MAX Gold Coast who sells homes throughout the area, said the housing market has definitely softened.

"I have seen prices drop from 5 to 10 percent versus earlier this year in a number of areas," Murray said.

Because of the declining market, some homes have become worth less than what the owners paid for them. Short pays, in which lenders forgive all or a portion of a debt to make up for loss of equity due to decreasing house values, are becoming more common, Murray said. "Part of the problem has been the prevalence of interest-only loans," he said.

But there's hope on the horizon. Although market was slow during most of 2006, it appears to be on the rebound, said Judy Lewicki, a realtor with Troop Realty who has been selling homes in the region for about 20 years.

"There was a little reduction in price but it's leveling off. We have seen an actual increase in the last month," Lewicki said.

People are starting to buy again as they realize interest rates aren't going up. Some properties are even receiving multiple offers, like in the past, Lewicki said.

While a price adjustment occurred because costs went too far up and homes became unaffordable for many buyers, there's no reason to believe housing costs will take a dive in 2007, Lewicki said.

Developers are making some concessions to sell homes quickly, but don't appear overly worried about future demand.

"The market goes up and down, but developers are used to this," said Dave Bobardt, planning manager for the city of Moorpark where several large tract housing developments are underway.

Developers build in phases and sell the homes before they are constructed. If sales are sluggish, they slow down the pace of construction, Bobardt said.

Trends in local cities

As planned developments still sprout in Calabasas, Moorpark, Simi Valley and Camarillo, the cities of Thousand Oaks, Agoura Hills and Westlake Village saw only minor infill, or pocket development because the communities are running out of buildable open space.

Calabasas

In Calabasas, the 557 residences in The Oaks by New Millennium Homes and the 48 homes in the Colony by Shea are nearing completion with most units almost sold , said Maureen Tamuri, community development director for the city.

The New Millennium homes cost between $3 million and $8 million depending on the size of the property, said Kim Kuciel, the New Millennium project manager.

"We have not been in a situation where we felt the need to cut our prices." The high-end market hasn't been affected by changes in the real estate market, Kuciel said.

Strong demand still exists for single-family housing, but a pair of senior condominium projects slated to be constructed in the Calabasas area haven't moved forward, Tamuri said.

New construction has fallen off because few parcels in the city remain available for development. Many developers obtained permits when the area was still under the jurisdiction of Los Angeles County, Tamuri said.

"There's still a strong demand for affordable homes-but not enough supply, because the land prices are high and it's very difficult to build affordable homes without significant subsidies," Tamuri said.

Camarillo

Camarillo is growing rapidly due to an expansion of high-paying jobs in technology.

It is the fastest-growing city in Ventura County, bucking the statewide trend of a general slowdown in population growth. Two new large developments will add about 2,000 homes to the central Ventura County community.

The 1,040-home Village at the Park development is among the city's biggest projects.

Although Camarillo allows only 400 new building permits for housing per year to help manage urban growth, developers can "bank" their allotted permits and build the homes later.

But more expensive homes means fewer young families can afford to live in the area, a fact that's not likely to change in the near future, according to real estate experts.

Prices remain high even as the housing supply continues to grow, Jim Chutuk, a senior branch manger with Prudential of California in Camarillo told The Acorn earlier this year.

A typical home that received multiple offers within 48 hours a year ago now takes two to three months to sell. The current 60- to 90-day timeline is closer to what the market average has been since the 1970s, Chutuk said.

Single-family homes in the Village at the Park complex are selling for around $850,000.

About 900 new homes are being built next to Cal State Channel Islands to house the university's faculty and staff.

Moorpark

Moorpark is still seeing significant growth following the approval of several large housing developments in recent years. The Moorpark City Council is slated to review another proposal in 2007 that could add more than 600 homes inside the city, but the overall pace of construction appears to have slowed.

Approximately 150 new homes in Moorpark were completed in 2006.

The Pardee Homes project now under construction in the Moorpark Highlands will include single-family homes and several condos. The developer is building in phases and selling the homes before they are constructed. Single-family homes in the Pardee project start at $650,000.

Simi Valley

Prices also are leveling off in Simi Valley as properties stay on the market longer, said Linda Enderson, a director on the Simi Valley-Moorpark Association of Realtors. Enderson sells real estate with Century 21 Hilltop in Wood Ranch.

"It's more like a normal market," Enderson said; lower priced homes sell more quickly. "A couple of years ago you couldn't find a single-family home under $500,000 but now you can."

Still considered a frontier for new housing, Simi Valley has seen several large developments come on line, most notably the Big Sky project.

The Big Sky homes began as a hot item, but the market's recent change of pace has lessened the demand, Enderson said.

Overall, Simi is still one of the more affordable areas in the region, she said.

Conejo Valley: Agoura, Thousand Oaks, Oak Park, Westlake Village

There aren't many new big tract developments in the Conejo Valley, but the market is still being driven by supply and demand basics, said Russ Watson, housing manager for Thousand Oaks.

"Homes stay on the market a bit longer than they used to, and that causes pressure to reduce the price a little, but there is still a high demand in the Conejo Valley," Watson said.

The inventory of homes in the Conejo Valley is low because the cities mostly have reached maximum size, but several smaller tracts still are being developed in Newbury Park.

In the Conejo Valley there are approximately 275 residential properties currently in escrow, which is a high number for the December real estate cycle, said Glen Scalise, president of the Conejo Valley Real Estate Association.

The real estate market outlook remains fairly strong for the Conejo Valley because the area remains insulated from economic peaks and valleys, Scalise said. Median sales prices in the Conejo have remained steady.

"Our great quality of life, quality schools and plentiful high paying jobs do counterbalance the higher housing costs to a degree," said Marena Murray, a Realtor for RE/MAX Gold Coast.

Thousand Oaks, especially Newbury Park, is still benefiting from high demand for housing because of large local employers such as Amgen and Countrywide Home Loans.