San Diego California real estate blog

Can Twitter Work For Your Real Estate Site?

brokerforyou.com CA Lic#00706331 — Wed, 18 Nov 2009 16:34:50 -0600

Judi works with me and I can say this works!

Via Judi - SEO for Realtors Search Engine Optimization Software (Promotions Unlimited):

On Twitter when one reaches 10,000 followers it's know as achieving whale status. The real benefit, is the increase this provides to your blog/site and or products/services you are tweetting about. Now, followers are great, but to be as productive as possible, these followers MUST be carefully selected.

If you are a real estate agent, you should work on building followers within say 10-25 miles of your office. If you sell a product or service on the Internet, you should select followers from related keywords within their profiles or their tweets.

Plus, keep in mind, you MUST provide useful information on your tweets and sites ... content is king on the Internet!

Lastly, only take advice from people who have have achieved what you are striving for yourself. I see people with Google PR0 or PR1 promoting the 'secret' of how to get high quality back-links or great search engine standings everyday. Seems their 'secrets' have not been working for their own sites.

See how my huge, directed Twitter following has helped my websites traffic:

www.websitetrafficbuilders.com

If you are interested in having 1,000 DIRECTED Twitter followers added to a new account or existing Twitter account, we can set this up for you at an attractive price. Just email me at: seo711@gmail.com for details. Or reach me on Twitter at: @seoredhead

Are Real Estate Agents Ripping-off Their Own Clients?

brokerforyou.com CA Lic#00706331 — Sun, 27 Sep 2009 19:00:02 -0500

With over three decades of real estate experience, I have a perhaps old fashioned perspective on the real estate business. Personally, I’ve never used a transaction coordinator. I’m a hands-on broker who feels that if you want to ensure something gets done right, you should do it yourself. With that said, I can see the benefit of using a TC especially for very busy agents, as well as new agents who may not be fully aware of the required timelines and forms required to ensure a timely close.

To me, it’s always been the broker’s duty and responsibility to not only negotiate the sale, but to ensure the escrow runs in a timely manner. If you delegate part of your responsibilities to a pseudo-employee, it only seems reasonable that you should pay for this service. After all, you cannot delegate away the responsibility for insuring the quality of the work by the TC. *To view the full post, please visit the San Diego California real estate market blog.

Real Estate Marketing With Twitter

brokerforyou.com CA Lic#00706331 — Fri, 25 Sep 2009 13:04:01 -0500

Via Judi - SEO for Realtors Search Engine Optimization Software (Promotions Unlimited):

They say a picture is worth a 1,000 words, so, please look at this carefully:

Ok, here is another 1,000 .... my own Twitter graph:

If you would like to have THOUSANDS more targeted followers reading your real estate blog posts, check out the full story on how you can do this the EZ way!

Please visit my outside search engine optimization software blog and look at the 8-09-09 post.

When a Home Foreclosure Bargain Costs More Than it Should

brokerforyou.com CA Lic#00706331 — Tue, 22 Sep 2009 01:07:37 -0500

When a Home Foreclosure Bargain Costs More Than it Should

By Bob Schwartz, Certified Residential Specialist, California Real Estate Broker

If the news is correct, there are bargains to be found in buying foreclosure homes in California. To be sure, a savvy investor can find a gem among the ruins of the real estate market bust. A good sales price is not the only dollar figure to keep an eye on, though. You must pay attention to your other costs!

It behooves you to always seek professional representation by a real estate agent but that is still no guarantee that you won’t over-pay by hundres, or even thousands of dollars, in unnecessary costs.

The insidious implementation of a new rip-off tactic makes it extremely difficult to discern until after the sale has closed. Even when closed, your own real estate agent may not want to bring this to your attention, because they too will suddenly realize the lack of due diligence on their part, has cost you, the buyer, unnecessary costs and fees.

Currently, these buyer rip-offs are occurring on bank owned foreclosures and short sale properties. Typically, in these transactions, services such as escrow, title, and natural hazard disclosure are selected by the seller or seller’s agent. The vast majority of buyer’s agents do not counter the services because they don’t want to jeopardize acceptance of their offer. In normal situations the fees for these services are very similar from one company to another.

In California, title companies are tightly regulated, as are the escrow companies that they control. But, independent escrow companies do not have their fees regulated. This non-regulation of fees is a key to this rip-off. The term rip-off is used here quite liberally, but if the fees are properly disclosed and the buyer is aware that they are extremely high, and it is their decision whether to move forward with the transaction, in that case, there’s nothing wrong. A buyer likely won’t be happy over-paying escrow fees but if they believe they are getting a steal on the value of the property, then they may proceed just to insure their purchase.

It is not so much the exorbitant fees being charged by independent escrow companies that constitute a rip-off but the charging of the exorbitant fees without timely, proper disclosure that is a problem. Presently, this has been seen mostly in the Orange County and Los Angeles areas.

Exactly what are these exorbitant fees charged to buyers? The main fee is the escrow fee that the buyer is required to pay. I was told by one major lender that the buyer’s escrow fee on a $265,000 bank owned foreclosure was $1400. Typically, the buyer’s portion of the escrow fee on such a sale would be approximately $680. Some other high fees are: E-doc fee of $150, which would normally cost about $75; a notary fee of $250 to notarize the loan documents in the escrow office; in one case a mobile notary was required for a fee of $350 and lastly, a loan tie-in fee of $300, when typically it runs about $100.

Typically on a bank owned property and or short sales the lenders require certain boilerplate, documentation to accompany any offers or they provide this documentation as part of a counteroffer. It’s in this documentation the lender states which companies they require for the various services necessary to close the transaction. To my knowledge, the amount of fees these lender selected companies are going to charge is not a required disclosure.

The buyer’s real estate agent should not put too much credence in the fact that the offer they drew up states that the escrow fees are to be split 50-50. In the boilerplate, lender required documentation; it may state that the escrow is to go through XYZ Escrow Company. Another document will state that the XYZ escrow company is an affiliated or bank owned subsidiary. In this case, though technically the bank and the buyer are both paying an exorbitant escrow fee, the bank is actually paying their half of the fee to themselves. Although I have no documentation, it could also be that the required vendor boilerplate documentation states that the lender’s maximum contribution for the escrow fees will be a specific number and anything above that will be picked up by the buyer.

Even though I do not have exact information as to how these exorbitant fees are being disclosed or if they are being disclosed, I am 100% certain that these exorbitant fees are being charged on many bank owned foreclosures and short sales. The charges far exceed the norm, thus in my opinion, meet the criteria of a “rip-off.”

One major San Diego lender informed me that so far this year they originated new loans on about 30 bank owned or short sale properties. In every transaction, the escrow fees charged were way above the norm.

An easy solution is if California would control the independent escrow fees. Even if motivated to do so, and not coerced by special interest lobbyists to look the other way, it won’t happen immediately. For now, buyers’ agents involved in these types of sales must request up front disclosure of all buyer costs. If the agent doesn’t automatically do it, then the buyer will have to stay on top of the representation and ask for disclosure of costs. Contemplating the purchase of a California bank owned foreclosure or short sale? Caveat Emptor!

Read more of Bob Schwartz’s 'tell it like it is' real estate opinions & subscribe to his free RSS feed at: San Diego real estate market blog.

WHEN IT PAYS TO LET THEM FORECLOSE!

brokerforyou.com CA Lic#00706331 — Mon, 14 Sep 2009 16:11:21 -0500

A recent research report from the University of Chicago’s Booth School of Business and Northwestern University’s Kellogg School of Management reports that of the large number of mortgage defaults across the country, 26% were what they call strategic. This report defines strategic as one in which the mortgage default was a calculated, done by homeowners who have the money to make the payments. The owners decided that the homes negative equity position indicates to them it would be economically wiser to let the property go back to the lender.

According to another nationwide study, 22% of all homeowners had negative equity positions during the first quarter of 2009. This means the homeowners owed more on their mortgage, than the current resale value of their homes. In some parts of Southern California, Nevada and Florida, it’s speculated that more than half of all homeowners now have negative equity.

Currently, we are just beginning of prime adjustable-rate loan activity called mortgage resets. The number of these mortgage resets far exceeds the number of subprime loans. The findings from Northwestern University's study seem to indicate that the U.S. housing market is on the brink of another substantial rise in home foreclosures.

Keep in mind, that these are prime loans made to the middle and upper end of the housing market. The people can afford to make the reset payments on their mortgages. A main reason that these people can afford the new reset payments is because of today's low interest rates hovering at around just 5%. In a post, dated 1-20-09, ‘San Diego Negative Home Equity’ on my San Diego real estate market blog, I speculated about this exact situation. The post was well in advance of this study's findings and all the more prophetic today.

I believe the importance of the mortgage reset will wake up homeowners to the harsh reality, and extent, of their negative equity position. Will they want to keep making mortgage payments? Would you, if the current value of your home was $50,000 less than the balance of your mortgage? What if your home value was $100,00, $200,000 or even $300,000 less than the balance on your mortgage? Would you continue to make payments or let the bank take it over?

I recently sold only in La Jolla. That was purchased new in 2005 for approximately $1.6 million. My buyer, was able to buy this home for just $1.1 million. So, in just about three years, from the time this home was purchased, the original seller’s home value had declined by $500,000, or just over 31%. Now just imagine if this home was originally purchased with a 10% down payment. The original owner would have had $160,000 invested in the property at the start. Plus would have made three years of substantial monthly mortgage payments, plus upgrades and then found out that his original $160,000 equity position had deteriorated into a -500,000 position. Now, should the original purchaser, with the loan balance of $1,440,000 continue to make mortgage payments or let the bank take the property back?

In the Northwestern University study, among those without moral reservations, 63% of those homeowners with a negative equity of $300,000 or more would let the property go into foreclosure. For the other group in the study who had moral issues with letting their home go into foreclosure, if they could make the payments, 38% would let their properties foreclose if their negative equity position reached $300,000.

Another finding in the study showed that the higher number of foreclosures in the zip code, the higher the homeowners’ willingness to walk away from their properties. Plus, 82% of homeowners in the study were likely to have a strategic default when they were aware of others who had defaulted.

The bottom line from this study seems to show that the traditional assumptions that homeowners default on their mortgages because they can't afford their monthly payments, needs to be re-examined. Even with the new Fannie Mae and Freddie Mac 125% refinance mortgages, will these deep in negative equity homeowners really be enticed to refinance their homes, when financially, it looks like a foolish decision?

Read more of Bob's 'tell it like it is' real estate opinions & subscribe to his free RSS feed at: San Diego real estate blog Also visit San Diego real estate & San Diego real estate agents

San Diego - Spring Valley 2Br./2Ba. Move-In Ready Rental

brokerforyou.com CA Lic#00706331 — Sat, 29 Aug 2009 14:36:10 -0500

$1,175 monthly rent on a one year lease

3067 Charwood Court Spring Valley CA 91977

Move-in ready, Very nice, tree shaded 2Br/2Ba w/classy wood & custom tile flooring. Lots of kitchen cabinets, gas stove, space-saver micro, refrigerator & dishwasher. EZ community, near Hwy 94. Community has pool/spa, two tennis courts and an exceptional park-like area w/picnic tables. Pets less than 30 lbs considered. Credit & Emp. Report required. Please call Bob Schwartz, real estate broker. CA Lic#00706331 619-286-5604

San Diego MLS home listings

San Diego Lender Foreclosure Ploy

brokerforyou.com CA Lic#00706331 — Mon, 24 Aug 2009 01:54:16 -0500

In the San Diego housing market the undisputed hottest selling properties are bank-owned, foreclosed homes and condos.

Many San Diego home buyers are exhibiting characteristics of the famous Alan Greenspan term, “irrational exuberance.” Use of the terms, “bank owned,” “bank foreclosure,” “lender reposition,” “foreclosure sale,” etc., are sure to draw a crowd to view the property. If the property shows half-way decently, there will be offers, and sometimes multiple offers.

Adding my observation to the above facts, I note that a number of lenders have hit on a marketing ploy to create a buying frenzy which guarantees an almost instant sale. In the majority of cases the offer(s) exceed what may have been realistically expected if the property was marketed the traditional way.

Here are some actual examples of this technique for San Diego home sales. *To view the full post, please visit the San Diego real estate market blog.

Govt. to Reduce Foreclosures by 75%!

brokerforyou.com CA Lic#00706331 — Sun, 23 Aug 2009 18:19:39 -0500

After the government’s massive stimulus spending plans, the Obama administration is probably disappointed with the continuing and escalating home foreclosures. The Obama administration announced that they have conceived a new program that would convert potential foreclosures into rentals. A spokesman said it’s reasonable for policymakers to consider options for loan forbearance — allowing borrowers to delay, defer or skip payments — that are more effective than those currently available in the private sector. The idea is to turn mortgage defaulters into renters.

Such a plan would let borrowers who have fallen behind on their mortgage payments, avoid eviction by renting their homes. They’d give up all their equity (what equity?) and future claims on the equity, in exchange for getting to stay in the home. How brilliant! I can see the headlines now: Foreclosures Cut 75% – Obama rescues troubled Homeowners – Obama Cures Foreclosure Problem.

Perhaps the real benefit of such a program will be the banks. Banks, now showing these homes as non-paying liability, would be able to show them as a paying asset. Plus, tens of thousands of troubled homeowners would now be assured of voting for Obama’s re-election so they can insure their handout-living continues. Depending on how the plan works, the government would establish a rental Czar and thousands of government jobs in the new government rental management program. A real win-win situation for everyone . . . except for the taxpayers. *To view the full post, please visit the San Diego real estate market blog.

San Diego 2Br./2Ba Condo VALUE

brokerforyou.com CA Lic#00706331 — Sun, 02 Aug 2009 23:29:46 -0500

Bob Schwartz | www.brokerforyou.com 619-286-5604

6888#G Hyde Park Drive, San Diego, CA 92119

Large San Carlos Top Fl 2Br./2Ba. New Carpet/Fresh paint.

2BR/2BA Condo

offered at $149,000 to $179,900

Year Built	1971
Sq Footage	1,252
Bedrooms	2
Bathrooms	2 full
Floors	1
Parking	1 Covered spaces
Lot Size	Unspecified
HOA/Maint	$275 per month

DESCRIPTION

Large upper top floor corner location w/open views! New carpeting and paint! Central air! A short walk to schools, park, shopping & Public transportation. Vacant & ready for your move-in! Value ranged priced from $149,000 to $179,900

MLS#090043292

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Walk-in closet
- Living room	- Dishwasher	- Refrigerator
- Stove/Oven	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Covered parking	- Laundry on-site	- Swimming pool(s)
- Sauna/Spa

ADDITIONAL PHOTOS

2nd. Fl corner location	Good size kitchen
Large living room	View from the balcony
Park-like community	Great San Carlos location

Contact info:

Bob Schwartz

www.brokerforyou.com

619-286-5604

For sale by agent/broker

San Diego real estate broker

Equal Opportunity Housing

search engine optimization software San Diego real estate agent San Diego homes for sale

"FREE" Obama Health Care - Another View

brokerforyou.com CA Lic#00706331 — Tue, 21 Jul 2009 19:56:15 -0500

The Obama health care bill is mostly modeled after the Canada model. This video, shows in part how things are going for health care up north.

For another view on the Obama Cap & Trade bill, visit the San Diego real estate market blog.

Govt. Refinance Loans to 125% LTV

brokerforyou.com CA Lic#00706331 — Tue, 21 Jul 2009 12:01:04 -0500

If bad loans got us into this mess, can we expect more bad loans to get us out? The answer is YES if you are running the Fannie Mae or Freddie Mac government refinance programs. In a recent press release it was announced that the two government owned agencies will now refinance loans up to 125% of the current home's value!

Did we not learn anything from the current, and continuing), housing bust? All facts from the mortgage industry and government point to the fact that mortgage default rates take a huge spike upwards with high loan to value loans.

I would venture to say that many of the mortgage debtors (in trust deed states) may not realize that by refinancing through this program, they will be going from a non-recourse loan to recourse refinancing, in many cases.

My bet is that actions like this will give a false sense of recovery for awhile, only to have us fall further in the future, much like the stimulus money is currently doing.

In his statement FHFA Director Lockhart said, “The higher LTV refinancing will allow more homeowners to strengthen their finances.” Do you really believe this? If the government really wanted people to stay in their houses, they would allow them to go into foreclosure and help them find alternative housing. Moving them into a 125% LTV recourse loan is setting them up for disaster and setting taxpayers up to take on the resulting new losses.

Perhaps the government is not being 100% honest in their touting this 125% refinancing program as a way to help people stay in their houses. In reality, it may actually be a way to help banks keep from writing down assets while they earn enough money to increase their capital base.

Living in California, I'm a little disappointed in the fact that our state tax and spend government did not come up with a comparable plan before the Feds. The fact that California has no budget, is issuing IOU's and has upwards of a 26 billion deficit is no excuse. Just a few months ago California passed a new law giving new home buyers a credit of 5% of the purchase price up to $10,000. California set aside 100 million for this program. Now that the $100 million is almost exhausted, two new bills are pending in Sacramento to to double or triple the original $100 million.

San Diego homes for sales

Networking - Twitter & SEO

brokerforyou.com CA Lic#00706331 — Wed, 15 Jul 2009 22:56:34 -0500

I'm now using this software and it is GREAT! Over 1,400 followers in about 5 weeks!

Via Judi - SEO for Realtors Search Engine Optimization Software (Promotions Unlimited):

Are you using Twitter for your real estate social networking?

Did you know:

Jeremiah Owyang of Forrester Research estimated that Twitter had 4-5 million users.

A February 2009 Compete.com blog entry ranked Twitter as the third most used social network (Facebook being the largest, followed by MySpace), which puts the number of unique monthly visitors at roughly 6 million and the number of monthly visits at 55 million.

In March 2009, a Nielsen.com blog ranked Twitter as the fastest-growing site in the Member Communities category for February 2009.

Twitter had a growth of 1382%, Zimbio had a growth of 240%, followed by Facebook with a growth of 228%.

In a prior post, New Twitter Promotion & Marketing Tool, I noted this great new Twitter automation software. I have personally been using it for myself as well as some of our SEO clients and have produced the video below about the actual results.

I marketing, the mantra is that the real money is in the list. If you develop a list of past clients, people interested in your niche, and potential prospects who may need your product or service, and keep in touch with them ... YOU WILL GENERATE NEW BUSINESS!

The proper use of Twitter lets one build such targeted lists. Keep in mind, the key is TARGETED list. In local service business like real estate one could search keywords such as newlywed, wedding date, retirement, graduation, etc., in both tweets and profiles, to build a good list. Realtors and other local service business could put in their office zip code and then collect followers who reside in a 25- to 100-mile area around the office.

Another big benefit of building a targeted Twitter follower list is SEARCH ENGINE OPTIMIZATION! Yes, with any of a few free and simple applications, one can tie in their blog posts to automatically send off a tweet announcing the new post's title to all your followers. By notifying thousands of followers of your post, a good number of them may go over to read your blog. Search engines will note this increased traffic and before long, your blog/website will be moved up in the search rankings.

Still not using Twitter? Don't expect the same business your Twittering competitor is generating. It's all a numbers game, and to be successful on the Internet, you must be involved and automate where ever possible. For now, the two most productive things you can do are: WATCH THE VIDEO BELOW & DOWNLOAD & RUN THE FREE SOFTWARE! See the direct software hyper-link below the video.

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The Cap and Trade Bill is Bad For The Housing Market & Sellers Wallets

brokerforyou.com CA Lic#00706331 — Sat, 04 Jul 2009 00:13:15 -0500

As part of The Cap and Trade Bill HR 2454, The American Clean Energy and Security Act of 2009, adds another layer of conditions for selling personal real estate (your home) in the United States.

The American Clean Energy and Security Act, a whopping 1,200+ pages defining a cap-and-trade program for greenhouse gas emissions, a federal renewable electricity mandate, and a suite of new mandatory energy efficiency standards, imposes 397 new federal regulations and 1060 mandates on an American public already overwhelmed by extensive federal regulations. Written in there is a requirement for all home sales to be conditioned upon an energy audit and an energy rating assessment labeling program. How much additional selling costs will all sellers now be required to pay to comply with the proposed requirements?

Congressmen Ron Paul, on 6-29-09 said:

“The Cap and Trade Bill HR 2454 was voted on last Friday. Proponents claim this bill will help the environment, but what it really does is put another nail in the economy’s coffin. The idea is to establish a national level of carbon dioxide emissions, and sell pollution permits to industry as the Catholic Church used to sell indulgences to sinners. HR 2454 also gives federal bureaucrats new power to regulate a wide variety of household appliances, such as light bulbs and refrigerators, and further distorts the market by providing more of your tax money to auto companies.”

Just like the TARP bill, this is all happening too fast. Anyone who thinks that Washington can craft a respectable bill in this short period of time is dreaming. The specifics of the bill aren’t being publicly discussed. The Democrats are trying to push this through so fast no one will know what hit them. The media is complicit in this. This is not the time to increase energy costs, either.

Kansas City Power & Light said the bill will force them to buy so many carbon allowances for coal that electricity rates could rise 50 percent by 2012, and another 70 percent by 2020.

Let’s get some positive economic growth first, not minus 6.6%, before we kick in some expensive program/tax.

Over 7,000 climate scientists have spoken out and signed a petition that states “climate change” is NOT caused by man, more than the number of scientists who wrote the UN charter on the topic.

This, along with the “stimulus” and “health care reform” is able to succeed to a degree because the American people are, for the most part, sheep who demand to be led, do not care to be involved in the process, do not care to know what is happening in their government, do not care to act on their own behalf and figure that Obama is more intelligent than they are. In fact he is leading them down the road to higher taxes, higher inflation and higher costs on all natural resources, all because of a false theory that curtailing carbon emissions can make a difference.

Kim Strassel, published in the (June 2009) Wall Street Journal:

“Among the many reasons President Barack Obama and the Democratic majority are so intent on quickly jamming a cap-and-trade system through Congress is because the global warming tide is again shifting. It turns out Al Gore and the United Nations (with an assist from the media), did a little too vociferous a job smearing anyone who disagreed with them as ‘deniers.’ The backlash has brought the scientific debate roaring back to life in Australia, Europe, Japan, and even if less reported, the U.S.”

“In April, the Polish Academy of Sciences published a document challenging man-made global warming. In the Czech Republic, where President Vaclav Klaus remains a leading skeptic, today only 11% of the population believes humans play a role. In France, President Nicolas Sarkozy wants to tap Claude Allegre to lead the country’s new ministry of industry and innovation. Twenty years ago Mr. Allegre was among the first to trill about man-made global warming, but the geochemist has since recanted. New Zealand last year elected a new government, which immediately suspended the country’s weeks-old cap-and-trade program.

“The number of skeptics, far from shrinking, is swelling. Oklahoma Sen. Jim Inhofe now counts more than 700 scientists who disagree with the U.N. — 13 times the number who authored the U.N.’s 2007 climate summary for policymakers. Joanne Simpson, the world’s first woman to receive a Ph.D. in meteorology, expressed relief upon her retirement last year that she was finally free to speak ‘frankly’ of her non-belief. Dr. Kiminori Itoh, a Japanese environmental physical chemist who contributed to a U.N. climate report, dubs man-made warming ‘the worst scientific scandal in history.’ Norway’s Ivar Giaever, Nobel Prize winner for physics, decries it as the ‘new religion.’ A group of 54 noted physicists, led by Princeton’s Will Happer, is demanding the American Physical Society revise its position that the science is settled. (Both Nature and Science magazines have refused to run the physicists’ open letter.)

“The collapse of the ‘consensus’ has been driven by reality.”

Scientists – the ones without a political agenda – have shown that solar activity correlates with temperature changes. In fact, it correlates stronger to changes than CO2 does, and changes in CO2 levels FOLLOW changes in temperature by about 800 years. The only reason that CO2 and temperature would be increasing at the same time NOW is that temperature increased about 800 years ago. By the way, temperatures have been decreasing for a couple of years now.

It appears that the government is more concerned about the appearance of making changes and are thus, creating these massive documents that no one can possibly read and digest. Don’t be naive enough to think we are being saved from disaster; one is being created. France has a better idea called nuclear power.

Read more of Bob's 'tell it like it is' real estate opinions & subscribe to his free RSS feed at:San Diego real estate blog Also visitSan Diego real estate & San Diego real estate agents

California Homebuyers Tax Incentive Funds Depleted … Should We Increases Taxes and Fees to Pay More?

brokerforyou.com CA Lic#00706331 — Fri, 03 Jul 2009 22:40:09 -0500

California legislators put a hundred million dollars on the table for first time homeowners to grab. Were they surprised when takers actually accepted the offer? Apparently this is so. They are now attempting to put more money in the coffers for this give-away.

The program is a tax credit that spreads across three years, in three equal payments, for buyers of new homes. The definition of new home is that it must be a single family residence, detached or attached, and never previously occupied. After purchase, the buyer must occupy the property for a minimum of two years and receives a credit of $10,000, or 5% of the price, whichever is less.

The program, passed in February 2009, put up one hundred million dollars for this incentive. Amazingly, this money was offered during a time when the state of California is, by some measures, bankrupt!

Now, there are two new bills pending in Sacramento that would add an additional $200-$300,000,000 to this program. In my opinion the original bill was unconscionable, considering the state of the California economy. To double or triple the original giveaway is totally incomprehensible.

These actions should definitely earn California an award for the greatest “tax and spend” state in our short history. Why does this bill only apply to new homes? If the state of California really wanted to help out the real estate market, why wouldn’t this bill apply to any home purchase?

It may be cynical, but could it be this just applies to new homes because the California new home builders contribute millions to the reelection campaigns of our state legislators? What would be extremely interesting, would be to look at the public record in one year from now to see how many state legislators who backed this program, received campaign contributions from new home builders.

For California homebuyers, especially first-time buyers, that qualify for the federal $8,000 credit as well as the California $10,000 credit, this is a great deal. But, is it really fair that tax payers are picking up the tab? Would it not make common sense if California wanted to pass such a program, to have it apply to all home purchases in order to reduce the current oversupply of existing homes? This program is doing nothing to lessen the supply of existing homes, vacant homes and bank foreclosures.

If this new buyer’s credit and pending new bills to escalate the funding, are not enough evidence that the California legislators ought to stay out of the real estate industry, perhaps remember what other mischief they’ve done. Mischief with good intentions and negative results is still mischief. These good folks extended the foreclosure process by 30 days in 2008, and then when that didn’t seem generous enough, added another 90 days this year. When you add up all the legal requirements, our legislators are practically offering almost a year of living “mortgage-free.” Are these California real estate laws really fair to the tax payers of California?

Read more of Bob's 'tell it like it is' real estate opinions & subscribe to his free RSS feed at:San Diego real estate blog Also visitSan Diego real estate & San Diego real estate agents

Real Estate Home Mortgage Deduction Soon to Vanish

brokerforyou.com CA Lic#00706331 — Fri, 03 Jul 2009 14:47:21 -0500

The American Dream is often paired with owning one’s own home. For decades Legislator’s have protected that dream with allowing home owners to claim the mortgage interest paid on their homes as a tax deduction. With a possible phase out of this deduction, could the dream fade?

“There are no cows more sacred in the tax code than the deductions for mortgage interest and property taxes. Together, they add up to at least the $ 75 billion annual subsidy for housing and Homeowners. ” The New York Times.

In 2002, 37.2 million taxpayers claimed the deduction, writing off $336.6 billion, or about $9,000 per taxpayer. Representing about 37% or so of itemized deductions, it was slightly more than itemized deductions for deductible state and local taxes, and twice as much in deductions as charitable donations. Clearly, the mortgage deduction is important and worth a huge amount of money.

In 2005 it was estimated that:

* The mortgage interest deduction will cost the Treasury $72.6 billion, according to congressional estimates.

* The $250,000 and $500,000 tax-free exclusions of home sale profits for single sellers and joint filers, respectively, will cost $23 billion .

* Property tax write-offs cost $20 billion, and tax subsidies for local and state housing bond programs account for $1 billion.

When a congressional committee examined the distribution of homeowner benefits for 2004, it found that people earning $200,000 and more a year – just one-half of 1% of all homeowners filing for deductions – pocketed 22% of the $70.2 billion in write-offs in 2004.

In 2007, Rep. John D. Dingell (D-Mich.) unveiled a draft of his “carbon tax” legislative reform package. Part of this draft legislation was a phase out the mortgage interest deduction on large homes. The phase-out schedule for the mortgage interest write-off, beginning with houses of 3,000 square feet, which would lose 15 percent of their deductions, and ending with houses of 4,200 square feet and larger, which would receive no deductions at all.

Dingel said: “In order to address the issues of climate change, we must address the issue of consumption-we do that by making consumption more expensive.”

Naturally, with the real estate market bust, the Dingell package was shelved. Once the housing market recovers, lets’ say two years from now, it’s a very good bet the administration will be looking hard at ways to increase taxes to pay down the huge bailouts. The unusual financial troubles and the move to green, will be the perfect time to push through such legislation. Unlike the Dingel proposal ,which was aimed at larger homes, the future legislation will most probably cover all mortgage interest deductions. To increase its’ chance at passage, it is a good bet it will be a phased in plan with deductions decreasing over a number of years.

To get the reversal of the sacred deduction started, President Obama’s impending budget proposes a cap on the mortgage interest rate deduction. Couples earning $208,850 or more would loose the deduction. Where currently households at the 33% and 35% tax rates are allowed the deduction, Obama would reduce their deduction to only 28% of the value of those payments. This is likely a first step to what seems to be a total elimination of mortgage tax deduction. If (when) this passes, Obama will find it easier to lower the earning cap for the mortgage tax deduction, leading up to an even lesser amount in the future. It seems on the horizon that the mortgage interest rate will be only for low income earners.

Read more of Bob's 'tell it like it is' real estate opinions & subscribe to his free RSS feed at:San Diego real estate blog Also visitSan Diego real estate & San Diego real estate agents

California Sunshine and a Year of FREE Living

brokerforyou.com CA Lic#00706331 — Fri, 12 Jun 2009 14:42:19 -0500

Sunshine and a Year of FREE Living

by Bob Schwartz, San Diego real estate broker, Certified Residential Specialist

The state of California has more than doubled the normal foreclosure time by an additional 90 days for homeowners with troubled mortgages. This is on top of the 30 day extension put in to place in 2008. Is this the state where living is free or are these actions only prolonging the pain?

Sen. Ellen Corbett (D-San Leandro) introduced a bill as an add-on to the California “budget” package to add a 90-day moratorium on California home foreclosures. Gov. Arnold Schwarzenegger signed into the bill on 2/20/09. It applies to owner-occupied homes and first-mortgages made from 2003 to 2007. See my earlier post: ‘New Law Extends California Home Foreclosures (again) ‘published on March 12, 2009.

State regulators can grant loan servicers and lenders exemptions, if they have a mortgage modification program in place that meets certain criteria. These include programs that defer a portion of the principal, lower interest rates for at least five years, or extend loan terms.

In 2008, the state of California extended the foreclosure process by approximately 30 days by adding a requirement that lenders document their efforts to contact the delinquent homeowner.

So, now for 2009, the state of California has more than doubled the normal foreclosure time periods by extending the normal California foreclosure for an additional 90 days. This is after the 30 day extension applied in 2008. Instead of helping these actions are only prolonging the pain. Perhaps the state should stay out of the mortgage business.

The market can’t recover until all these foreclosures get flushed through the system. Delaying the inevitable will not change the end result; it will probably only make it worse. In a declining market, the lenders will recover even less when the property eventually sells.

Personally, I’m not aware of one mortgage lender that starts the foreclosure process as soon as the homeowner is late one month. In the vast majority of cases, the lender does not start the process for four months or more. Do the math: Four months slow motion by the lender, the original 90 day foreclosure process (plus a 21 day advertising period), the 2008 delay of 30 days, and now the 90 day moratorium passed in February 2009. That’s a potential of free living for almost a year!

Who is really paying for this ‘free California living?’ With a lot of these toxic loans being purchased by the federal government, it’s the U.S. taxpayer who is paying.

Other fallout resulting from the state’s legislated moratorium on foreclosures is the many homeowner associations adversely affected by a delay in collecting normal monthly maintenance dues. It’s a sure bet homeowners are not paying their monthly maintenance fees when they aren’t making their mortgage payments. Most San Diego monthly homeowner fees run over $250 per month. Who ultimately pays for the additional $1,000 in delinquent dues? It’s the existing association homeowners. HOAs will either have to increase the dues, or require special assessments from the owners who are left. Once a property has been foreclosed, the lenders are responsible for paying the dues on the property. All outstanding balances prior to the foreclosure date are wiped out! The “moratorium penalty” can be especially devastating for small condo complexes with six to twelve units, like those which dominate the North Park/Normal Heights neighborhoods in San Diego.

The California legislature continues to amaze … but not impress … with stupid ideas put into law.

Read more of my 'tell it like it is' real estate opinions & subscribe to my free RSS feed at: San Diego real estate blog.

San Diego Real Estate Bottom?

brokerforyou.com CA Lic#00706331 — Tue, 21 Apr 2009 11:08:16 -0500

San Diego real estate market… I have the idea that many think our economic downturn will last forever, near capitulation point, so all the doom and gloom today, is to be expected.

Even though I'm more optimistic than some, a mid-2009 recovery seems a bit early to me; late '09 or sometime in '10 seems more likely.

In Orange County Calif., housing economist Mark Schniepp said:Home sales sharply higher (to their highest levels since October of 2005). Prices appear to be stabilizing in some areas; overall, prices during February were not off as sharply as they had been. For the state, off only 2.2 percent from January. We appear to be at bottom in prices or nearly at the bottom; it is a regional issue now.

It is not surprising that 1st time buyers are jumping in. For years they were crowded out by speculators armed with easy money. There is certainly a segment of pent-up demand. All the same, the stock market appears to be bottoming out. It's getting pulled down by uncertainty more than anything; once that uncertainty is removed, it will start to recover. San Diego real estate market blog

Put Your Real Estate WordPress Blog on Auto-pilot & Increase Your SEO Standings

brokerforyou.com CA Lic#00706331 — Fri, 10 Apr 2009 14:13:23 -0500

Via Judi - SEO for Realtors Search Engine Optimization Software (Promotions Unlimited):

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I use a couple different automated plug-ins, but this one is pretty awesome. You see, it actually goes out and grabs relevant content and puts it on your blog. It actually uses Yahoo answers to do this. So, it works really well and allows you to get good content to your site that is very conversational. Not only does it add the Yahoo answers question, but also adds the answers as comments.

So, it looks like your blog is very interactive. This is a really cool plug-in. If you're looking for a great way to automatically add good quality content to your blog this is a great WordPress plug-in. Now, as I always mention with any type of automation tool, that is not all you want to do. You want to make sure that you add fresh unique content on your blog.

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San Diego Mission Valley 2Br/2Ba Rental

brokerforyou.com CA Lic#00706331 — Wed, 08 Apr 2009 15:12:26 -0500

Bob Schwartz | www.brokerforyou.com| 619-286-5604

Rancho Mission Road, San Diego, CA

Mission Valley Rental Luxury For Less

2BR/2BA Condo

$1,425/month

Bedrooms	2
Bathrooms	2 full, 0 partial
Sq Footage	1,037
Parking	1 dedicated
Pet Policy	No pets
Deposit	$1,425

DESCRIPTION

Mission Valley Upgraded 2Br/2Ba Fplc.- Pool-Spa-Tennis

_____________________________________
Large, modern, one level 2Br/2Ba facing green belt. Totally upgraded! New carpeting, Fresh paint! Dual sinks in MBA! Both BA's totally remodeled w/custom tile flooring, sinks, fixtures & mirrored closet doors. Refrigerator - Central A/C - New S/S kitchen sink. .Good sized Master bedroom w/ walk-in closet! Front patio. Community pool/spa/night-lighted tennis/racquet ball! Walk to the 'Q'. Emp./Credit check required.
Bob Schwartz, real estate broker. 619-300-8819. Web: http://www.brokerforyou.com

see additional photos below

RENTAL FEATURES

Air conditioning	Central heat	Fireplace
Walk-in closet	Tile floor	Living room
Dishwasher	Refrigerator	Stove/Oven
Microwave	Balcony, Deck, or Patio	Cable-ready

COMMUNITY FEATURES

Covered parking	Clubhouse	Laundry on-site
Storage space(s)	Swimming pool(s)	Sauna/Spa
Tennis court(s)	Secured entry

LEASE TERMS

Credit and Employment check required! One year lease. No pets.

ADDITIONAL PHOTOS

Resort Style Living	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Bob Schwartz

www.brokerforyou.com

619-286-5604

Bob Schwartz, real estate broker.

Cell: 619-300-8819

Web: http://www.brokerforyou.com

Please be sure to visit San Diego real estate

downtown San Diego real estate

San Diego for sale by owner

Equal Opportunity Housing

Posted: 4-8, 2009,

Not a Foreclosure --- But, Priced Like One! 3Br. View Value!

brokerforyou.com CA Lic#00706331 — Tue, 03 Mar 2009 16:38:00 -0600

No, this is NOT a foreclosure....but, it's priced like one!

Bob Schwartz | www.brokerforyou.com| 619-286-5604

8028 Mission Vista Drive, San Diego, CA

San Carlos 3Br/2.5Ba w/Mountain & Canyon Views

*Seller will consider helping with Buyer's Closing Costs!

3BR/2.5BA Townhouse

Reduced Value Ranged $399,000 - $419,000

Year Built	1983
Sq Footage	1,538
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	Unspecified
Lot Size	3,571 sqft
HOA/Maint	$88 per month

DESCRIPTION

Most desirable and largest 3 Br. floor plan in Belaire! Semi-attached PUD w/Cent. Air! Premium location w/panoramic views! Newer (Apprx. 3Yr old) copper water pipes & newer roof! Fireplace, cathedral ceilings, 2 car attached garage! Two Br’s have been combined to make a very spacious 2nd. Br. (can be easily restored).

If you have a buyer who likes a view, this home will sell itself!! Newer Roof! Home has been totally re-plumbed with copper water pipes. Upgraded gas stove & space saver micro, breakfast nook, central air, tile & hardwood flooring, upgraded bath sinks, mirrored closets rear yard wood decking. This model combines warm traditional New England styling with modern space, beauty, convenience and efficiency. Spacious living room with dramatic vaulted ceiling. Good sized kitchen with Breakfast nook, Quality cabinets - tile counter tops and a water line for icemaker. Formal dining room bay window. A real feeling of spaciousness and style! All windows dual glazed for energy conservation. Attached garage w/opener & direct access into home. Spacious Master Bedroom! Low dues provide front lawn/greenbelt maintenance. Belaire is a world away in feeling...a world of green hillsides, natural canyons, the San Diego River, and a very attractive community. Right next door is the 5,700- acre Mission Trails Regional Park, one of the nation¹s largest urban-area parks, a preserved wonderland of rugged back country, deep gorges, wood-shaded creeks, lake and hiking trails. Truly, a very unique place to live and share in all that San Diego has to offer without a long commute. All measurements are approximate. Sq. Ft. per tax rolls. Seller to select all related services. Really a must see home and community!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Living room	Office/Den
Dining room	Breakfast nook	Dishwasher
Stove/Oven	Microwave	Laundry area - garage
Balcony, Deck, or Patio	Yard

OTHER SPECIAL FEATURES

+++Newer roof & cooper water pipes

ADDITIONAL PHOTOS

*View a video of this great San Carlos home at:

http://www.brokerforyou.com/san-carlos-del-cerro-sdsu-townhome.htm

Seller contact info:

Bob Schwartz

San Diego real estate agent www.brokerforyou.com

619-286-5604

For sale by agent/broker

Sponsors: San Diego attorneys - San Diego dentist

San Diego cosmetic surgery doctors

San Diego clinical trials

San Diego Lasik doctors

Equal Opportunity Housing

Posted: March 3, 2009 Search Engine optimization software

San Diego 3Br./2.5Ba View Home - Sunset/Canyon Views - Upgraded Value!

brokerforyou.com CA Lic#00706331 — Thu, 29 Jan 2009 15:41:45 -0600

To view the floorplan and additional information, please visit: San Carlos Del Cerro SDSU home for sale

San Diego real estate - 2009

brokerforyou.com CA Lic#00706331 — Wed, 28 Jan 2009 14:29:16 -0600

Many local mortgage lenders feel that San Diego & Southern California were the prime locations for the adjustable Option ARM loans. Now, just when many believed the mortgage crisis was winding down, San Diego real estate will be facing another major obsticle.

My first post on this problem was San Diego Real Estate … The Coming Next Wave of Foreclosures, published on 7-17-08. It took a little while, but now the major media outlets have picked up on this problem.

San Diego 3Br./2.5Ba View Home - Sunset/Canyon Views - Just Reduced!

brokerforyou.com CA Lic#00706331 — Tue, 13 Jan 2009 17:39:44 -0600

San Diego Real Estate … Are Interest Rates the Key?

brokerforyou.com CA Lic#00706331 — Tue, 13 Jan 2009 16:23:02 -0600

Will historically low interest rates be the key to turning around or putting a bottom in place for the San Diego housing bust? Mortgage rates are near their lowest levels in nearly 40 years. Plus, the government wants to offer new borrowers a 4.5% mortgage rate as an incentive.

But, if you are unemployed or worried about your job, what the current mortgage rates are, is of little importance. *To read the full post and see a video on this, please visit the San Diego real estate market blog.

Commercial Real Estate Lokks Like The Next Big Problem

brokerforyou.com CA Lic#00706331 — Fri, 09 Jan 2009 12:40:36 -0600

With all the focus on residential real estate, very little attention is being paid to the commercial real estate market. In a report by the National Association of Realtors, it said in part: The fundamentalists in commercial real estate are feeling the stress of a slowing economy and troubled credit markets.*To read the full post, please visit the San Diego California real estate agent blog

Bob Schwartz | www.brokerforyou.com| 619-286-5604

8028 Mission Vista Drive, San Diego, CA

San Carlos 3Br/2.5Ba w/Mountain & Canyon Views

3BR/2.5BA Townhouse

Reduced Value Ranged $399,000 - $419,000

Year Built	1983
Sq Footage	1,538
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	Unspecified
Lot Size	3,571 sqft
HOA/Maint	$88 per month

DESCRIPTION

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Living room	Office/Den
Dining room	Breakfast nook	Dishwasher
Stove/Oven	Microwave	Laundry area - garage
Balcony, Deck, or Patio	Yard

OTHER SPECIAL FEATURES

Newer roof & cooper water pipes

ADDITIONAL PHOTOS

Seller contact info:

Bob Schwartz

San Diego real estate agent www.brokerforyou.com

619-286-5604

For sale by agent/broker

Sponsors: San Diego attorneys - San Diego dentist

San Diego cosmetic surgery doctors

San Diego clinical trials

San Diego Lasik doctors

Equal Opportunity Housing

Posted: Jan 12, 2009 Search Engine optimization software

San Diego California real estate blog

Can Twitter Work For Your Real Estate Site?

Are Real Estate Agents Ripping-off Their Own Clients?

Real Estate Marketing With Twitter

When a Home Foreclosure Bargain Costs More Than it Should

WHEN IT PAYS TO LET THEM FORECLOSE!

San Diego - Spring Valley 2Br./2Ba. Move-In Ready Rental

San Diego Lender Foreclosure Ploy

Govt. to Reduce Foreclosures by 75%!

San Diego 2Br./2Ba Condo VALUE

"FREE" Obama Health Care - Another View

Govt. Refinance Loans to 125% LTV

San Diego homes for sales

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The Cap and Trade Bill is Bad For The Housing Market & Sellers Wallets

California Homebuyers Tax Incentive Funds Depleted … Should We Increases Taxes and Fees to Pay More?

Real Estate Home Mortgage Deduction Soon to Vanish

California Sunshine and a Year of FREE Living

San Diego Real Estate Bottom?

Put Your Real Estate WordPress Blog on Auto-pilot & Increase Your SEO Standings

San Diego Mission Valley 2Br/2Ba Rental

Not a Foreclosure --- But, Priced Like One! 3Br. View Value!

San Diego 3Br./2.5Ba View Home - Sunset/Canyon Views - Upgraded Value!

San Diego real estate - 2009

San Diego 3Br./2.5Ba View Home - Sunset/Canyon Views - Just Reduced!

San Diego Real Estate … Are Interest Rates the Key?

Commercial Real Estate Lokks Like The Next Big Problem