Melissa Lefton's Blog

Upgraded Home with Poss. RV Access!!!! Must See!!

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Wed, 06 Aug 2008 12:52:21 -0500

Melissa Lefton | Keller Williams Realty | 805-551-9489

2191 Crosscreek Ave., Simi Valley, CA

Upgraded Home with Possible RV Access!!

2BR/1.5BA Single Family House

offered at $344,900

Year Built	1987
Sq Footage	1,106
Bedrooms	2
Bathrooms	1 full, 1 partial
Floors	1
Parking	2 Car garage
Lot Size	5,278 sqft
HOA/Maint	$0 per month

DESCRIPTION

Lovely Single Story Home! 2 Bedrooms + Bonus Room (Possible 3rd Bedroom). Hardwood flooring throughout, Tile in kitchen & Upgraded Master Bath, Vaulted Ceilings, New Dual Pane Windows & More! Nice Yard, Wood Burning Firepit, Small Boat/RV Access Area and Newer Stucco & Paint! No HOA! Great Location in Desirable Neighborhood!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Hardwood floor	Tile floor	Living room
Bonus/Rec room	Dishwasher	Stove/Oven
Microwave	Laundry area - garage	Yard

COMMUNITY FEATURES

Garage parking

OTHER SPECIAL FEATURES

Dual Pane Windows

Master Suite

Possible 3rd Bedroom

No HOA!

ADDITIONAL PHOTOS

Seller contact info:

Melissa Lefton

Keller Williams Realty

805-551-9489

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 6, 2008, 8:35am PDT

Moorpark Home!!!

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Wed, 26 Mar 2008 10:46:24 -0500

Melissa Lefton | Keller Williams Realty | melissalefton@sbcglobal.net | 805-551-9489

1079 Walnut Canyon Rd., Moorpark, CA

Pivate Location, Custom Home, Mountain Views!

4 Bdrm Manufactured

offered at $365,000

Year Built	2001
Sq Footage	1,512
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	11,880 sqft
HOA/Maint	$0 per month

DESCRIPTION

Shortsale!!!! Reduced!! Do not miss out on this 2001 Custom built home nestled in a private location of Moorpark with stunning views!!! This Immaculate 4 bedroom home is as beautiful inside as it is out. Exterior boasts beautiful lush landscaping in front with lighting and new roll-up garage door. Interior upgrades include: New Carpet throughout, Dual pane windows, propane gas, and new A/C!!! Large living area flows into Dining room with chandelier. Kitchen features Maple finished cabinets, and laundry area. Private Master Suite includes walk-in closet and huge soaking tub in master bath. Very Open and Light and Bright! Room in year yard and hillside to plant your own private garden or build your own private patio. Minutes away from shopping and multi-million dollar homes!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Walk-in closet
Living room	Dining room	Dishwasher
Stove/Oven	Microwave	Laundry area - inside

COMMUNITY FEATURES

Garage parking

ADDITIONAL PHOTOS

Seller contact info:

Melissa Lefton

Keller Williams Realty

melissalefton@sbcglobal.net

805-551-9489

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 26, 2008, 6:15am PDT

Loan-Related Closing Costs

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Tue, 06 Nov 2007 18:17:55 -0600

Loan Origination Fee
This covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount.

Points (optional)
An option for the home buyer is to pay points to lower the interest rate at which the loan will be repaid. Each point equals 1 percent of the mortgage amount. For example: on a $150,000 loan, 1 point would equal $1,500.

Appraisal Fee
The fee for having the house appraised may be incorporated into the closing costs or payment may be required by the lender at the time the loan application is submitted.

Credit Report
The lender uses a credit report to determine the creditworthiness of the loan applicant. This fee is often paid when the loan application is submitted.

Interest Payment
Typically the buyer is required to pay interest on the mortgage loan to cover the time between the closing date and when the first mortgage payment period begins. For example: If closing is on May 15. Your first monthly payment begins to accrue interest on June 1 with your first mortgage payment due July 1. At closing an interest payment covering the accrual period between May 15 and May 31 may be required.

Escrow Account
At closing a payment may be required to fund the escrow account if the lender is paying home insurance, property taxes and/or other expenses out of the escrow account.

Why you should get an Inspection?

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Tue, 06 Nov 2007 18:16:41 -0600

Why you should get an Inspection

Whether you are buying or selling a home, you should have a professional home inspection performed.

A home inspection will look at the systems that make up the building such as:

Structural elements, foundation, framing etc
Plumbing systems
Roofing
Electrical systems
Cosmetic condition, paint, siding etc

If you are buying a home, you need to know exactly what you are getting. A home inspection, performed by a professional home inspector, will reveal any hidden problems with the home so that they may be addressed BEFORE the deal is closed. You should require an inspection at the time you make a formal offer. Make sure the contract has an inspection contingency. Then, hire your own inspector and pay close attention to the inspection report. If you aren't comfortable with what he finds, you should kill the deal.

Likewise, if you are selling a home, you want to know about such potential hidden problems before your house goes on the market. Almost all contracts include the condition that the contract is contingent upon completion of a satisfactory inspection. And most buyer's are going to insist that the inspection be a professional home inspection, usually by an inspector they hire. If the buyer's inspector finds a problem, it can cause the buyer to get cold feet and the deal can often fall through. At best, surprise problems uncovered by the buyer's inspector will cause delays in closing, and usually you will have to pay for repairs at the last minute, or take a lower price on your home.

Should you buy points?

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 02 Nov 2007 18:26:44 -0500

How do you "buy" a better rate?

Do you plan on keeping your loan for a while? Then it may make sense to "buy" a lower interest rate by paying one or more "points."

Even if you're unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for a lower rate may make sense. For example, do you have a high-paying job now but you think you might change careers in the next few years? We can help you sort it out. It's part of our finding the right loan for your means and goals.

A point -- which equals one percent (1%) of the total loan amount -- is an up-front fee that lowers your monthly interest rate and total interest due over the life of the loan. So, a one point loan will have a lower interest rate than a no point loan. Basically, when you pay points you trade off paying money later in favor of paying money now. You can pay fractions of points, meaning there are a lot of points packages that can make a loan's terms more favorable if that's what's right for you.

There are a variety of rate and point combinations available. When you look at different loan programs, don't look just at the rate -- compare the whole package. Federal law requires lenders to publish their loans' Annual Percentage Rate, or A.P.R. The A.P.R. is a tool used to compare different terms, offered rates, and points.

Living Trusts

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 02 Nov 2007 17:33:41 -0500

Living Trusts

Created while you are alive, a revocable living trust lets you control the distribution of your estate. Ownership of your property and assets is transferred into the trust. You can serve as trustee or you can appoint another to serve as trustee. If you serve as trustee, you must appoint a successor to serve as trustee upon your death.

Properly drafted and executed, a revocable living trust can avoid probate and delays as the trust owns the assets not the deceased. Consult with your attorney and/or CPA before deciding if a revocable living trust is the right choice for you.

Advantages to a Living Trust Holding Title

A husband and wife can establish a joint revocable living trust.
While the trustor serves as a trustee or a co-trustee, a separate tax return is not required for the trust.
The revocable living trust allows the trustee to buy, sell and finance assets just as before.
In the event of incapacitation, management of the living trust passes to the successor trustee without the necessity of a court-appointed conservator.
The living trust can be cancelled or changed at any time before death or incapacitation.
Probate - including multi-state probate - is avoided when assets are held in a living trust. (Often probate takes 9 to 12 months.)
Privacy. When a decedent dies with a living trust, the provisions of that trust usually do not become public.
Litigation is discouraged by a living trust.
A married couple with a living trust can reduce or eliminate federal estate taxes by setting up an Exemption Trust. While both are alive the assets remain in the revocable living trust. Upon the death of a spouse, the trust is split into two trusts: the survivors trust and an exemption trust. (For tax purposes, the surviving spouse and the exemption trust are two separate taxpayers.)

Disadvantages of a Living Trust

A living trust will cost more to set-up than an estate plan with only a will.
A trust agreement with a new will must be set-up.
Transferring assets into the living trust will require paperwork and incur costs not encountered with a less elaborate estate plan.
Handling an Exemption Trust may require extra effort from the surviving spouse.
Some lenders may require property held in a living trust be removed from the living trust to refinance the property.

Common Terms

Trustor: Creates the revocable living trust and transfers major assets into it. (A husband and wife can have a joint living trust or each can have their own living trust.)

Trustee: Manages the living trust's assets.

Beneficiary: Receives the assets of the living trust.

Initially the trustor, trustee and beneficiary are the same person(s).

Five ways to make the loan process go faster

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 02 Nov 2007 17:30:39 -0500

Five ways to make the loan process go faster

We should say that "working with us" is the first way! When you let us help you find the loan that's right for you, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly.

But here are five "other" ways you can speed up the process of getting a mortgage loan:

1. Have everything ready and in one place. Elsewhere on our website, you'll find a list of things you might need in support of your mortgage application. If you get them all together and keep them in a safe, portable place like a special pouch or folder, you can cut down on time spent rooting around for things we may need. Also, you'll help cut down on your own anxiety and confusion.

2. Be honest and complete when you fill out your application. "Fudging" your employment or residence history or omitting open credit accounts you'd rather not have considered doesn't increase your chances of getting a favorable loan. In 100 percent of cases, it makes it harder, and take longer.

3. Respond promptly to requests for additional information. During processing, we or the lender considering your loan may need additional information. Provide it as soon as you get the request, or return the call as soon as you get the message.

4. Be prepared to explain derogatory items in your credit report. This is really part of number 2 above. If you had an illness or a divorce where you missed or made late payments, or you have other instances of late payments or delinquencies on your credit report, be prepared to explain them. Be honest, and don't be nervous! The loan processor isn't judging you, they're trying to fill in all the blanks in their paperwork.

5. Let the appraiser in! The appraisal is one of the lengthiest parts of the mortgage loan process. Studies have shown that the single biggest factor in appraisal "lag time" is the appraiser's inability to reach the homeowner to make an appointment. If you're refinancing and the appraiser calls to make an appointment, make it as soon as convenient for both of you.

And remember that the appraiser doesn't want to buy your house. He or she will say what the house is worth clean and tidy and in reasonable repair, even if you have some dirty laundry on the laundry room floor or dirty dishes in the sink. Cleaning doesn't get you a higher appraisal! Letting the appraiser in as soon as possible gets you a loan faster, though.

Debt to Income Ratio

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 02 Nov 2007 17:29:25 -0500

Debt to Income Ratio

Your debt to income ratio is simply a way of determining how much money is available for your monthly mortgage payment after all your other recurring debt obligations are met.

Debt limit

There is generally a debt limit associated with each type of loan, such as a 28/36 qualifying ratio for a conventional loan. These qualifying ratios are guidelines. An excellent credit history can help you qualify for a mortgage loan even if your debt load is over and above the limit.

Understanding the qualifying ratio

Typically conventional loans have a qualifying ratio of 28/36. Usually an FHA loan will allow for a higher debt load, reflected in a higher (29/41) qualifying ratio.

The first number in a qualifying ratio is the maximum percentage of your gross monthly income that can be applied to housing (including loan principal and interest, private mortgage insurance, hazard insurance, property taxes and homeowner's association dues).

The second number is the maximum percentage of your gross monthly income that can be applied to housing expenses and recurring debt. Recurring debt includes things like car loans, child support and monthly credit card payments.

For example:

With a 28/36 qualifying ratio:

Gross monthly income of $3,500 x .28 = $980 can be applied to housing
Gross monthly income of $3,500 x .36 = $1,260 can be applied to recurring debt plus housing expenses

With a 29/41 qualifying ratio:

Gross monthly income of $3,500 x .29 = $1,015 can be applied to housing
Gross monthly income of $3,500 x .41 = $1,435 can be applied to recurring debt plus housing expenses

Simply guidelines

Remember these are just guidelines. We'd be happy to pre-qualify you to determine how large a mortgage loan you can afford. We look forward to helping you buy your dream home.

fixed rate versus adjustable rate loans

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 02 Nov 2007 17:28:13 -0500

What are the advantages of fixed rate versus adjustable rate loans?

With a fixed-rate loan, your monthly payment of principal and interest never change for the life of your loan. Your property taxes may go up (we almost said down, too!), and so might your homeowner's insurance premium part of your monthly payment, but generally with a fixed-rate loan your payment will be very stable.

Fixed-rate loans are available in all sorts of shapes and sizes: 30-year, 20-year, 15-year, even 10-year. Some fixed-rate mortgages are called "biweekly" mortgages and shorten the life of your loan. You pay every two weeks, a total of 26 payments a year -- which adds up to an "extra" monthly payment every year.

During the early amortization period of a fixed-rate loan, a large percentage of your monthly payment goes toward interest, and a much smaller part toward principal. That gradually reverses itself as the loan ages.

You might choose a fixed-rate loan if you want to lock in a low rate. If you have an Adjustable Rate Mortgage (ARM) now, refinancing with a fixed-rate loan can give you more monthly payment stability.

Adjustable Rate Mortgages -- ARMs, as we called them above -- come in even more varieties. Generally, ARMs determine what you must pay based on an outside index, perhaps the 6-month Certificate of Deposit (CD) rate, the one-year Treasury Security rate, the Federal Home Loan Bank's 11th District Cost of Funds Index (COFI), or others. They may adjust every six months or once a year.

Most programs have a "cap" that protects you from your monthly payment going up too much at once. There may be a cap on how much your interest rate can go up in one period -- say, no more than two percent per year, even if the underlying index goes up by more than two percent. You may have a "payment cap," that instead of capping the interest rate directly caps the amount your monthly payment can go up in one period. In addition, almost all ARM programs have a "lifetime cap" -- your interest rate can never exceed that cap amount, no matter what.

ARMs often have their lowest, most attractive rates at the beginning of the loan, and can guarantee that rate for anywhere from a month to ten years. You may hear people talking about or read about what are called "3/1 ARMs" or "5/1 ARMs" or the like. That means that the introductory rate is set for three or five years, and then adjusts according to an index every year thereafter for the life of the loan. Loans like this are often best for people who anticipate moving -- and therefore selling the house to be mortgaged -- within three or five years, depending on how long the lower rate will be in effect.

You might choose an ARM to take advantage of a lower introductory rate and count on either moving, refinancing again or simply absorbing the higher rate after the introductory rate goes up. With ARMs, you do risk your rate going up, but you also take advantage when rates go down by pocketing more money each month that would otherwise have gone toward your mortgage payment.

What is PMI

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Thu, 25 Oct 2007 16:44:53 -0500

Private Mortgage Insurance helps you get the loan

Private Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio - the amount of your mortgage loan divided by the value of your home - is greater than 80 percent.

PMI isn't a bad thing - it allows you to make a lower down payment and still qualify for a mortgage loan. In fact without PMI, many of us would not be able to purchase our first home.

How is PMI calculated?

Your PMI premium is fixed based on plan type (loan-to-value ratio, loan type, loan term, etc.) and is not related to your particular credit history or other individual characteristics. PMI typically amounts to about one-half of one percent of your mortgage amount annually, according to the Mortgage Bankers Association, and the premium payment is usually rolled into your monthly mortgage payment. On a $200,000 mortgage, you may be paying $1,000 per year for PMI.

Closing the Sale

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Thu, 25 Oct 2007 16:42:48 -0500

Closing the Sale

Escrow
To finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller's and buyer's agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid.

The documentation the escrow holder may be collecting includes:

Loan documents
Tax statements
Fire and other insurance policies
Title insurance policies
Terms of sale and any seller-assisted financing
Requests for payment for various services to be paid out of escrow funds

Upon completion of all instructions of the escrow, closing can take place. All outstanding payments and fees are collected and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). Title to the property is then transferred to the seller and appropriate title insurance is issued as outlined in the escrow instructions.

At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. As your real estate agent, I'll inform you of the acceptable form.

The Escrow Holder Will:		The Escrow Holder Won't:
Prepare escrow instructions Request title search Comply with lender's requirements as specified in the escrow agreement Receive funds from the buyer Prorate insurance, tax, interest and other payments according to instructions Record deeds and other documents as instructed Request title insurance policy Close escrow when all instructions of seller and buyer have been met Disburse funds and finalize instructions		Give advice - the escrow holder must maintain neutral, third-party status Offer opinions about tax implications

Mortgage Escrow Account

A Mortgage Escrow Account is established to pay on-going expenses while there is a loan on the house. These expenses include property taxes, home insurance, mortgage insurance, and other escrow items. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

Give your mortgage an annual once over

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Thu, 25 Oct 2007 16:40:02 -0500

Give your mortgage an annual once over

If the last time you looked at your mortgage was when you closed on your loan, it's time to take it out for an annual once over.New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities.

Is a fixed rate mortgage the best choice for you?

Many of us opt for the certainty of a 20 year or 30 year fixed rate mortgage when we get our first mortgage.If you anticipate selling your home within the next 10 years, one of our new hybrid loans may be a better financial fit for you.Hybrid loans typically have a lower fixed rate than a traditional 20 or 30 year mortgage.The savings you receive can well be worth switching to a hybrid loan.

Are you paying for Private Mortgage Insurance (PMI)?

There are a lot of new loan programs available that can help you eliminate PMI, even if you have less than 20% equity in your home. The monthly savings adds up quickly. This money can be put to better use to help you achieve other short-term and long-term financial goals.

Are your taxes and insurance up to date?

Even though your mortgage servicer is responsible for paying your taxes and insurance out of your escrow account, it just makes sense to periodically check to see that these payments are being made properly. While you're at it, you'll want to review your homeowner's insurance policy. It's a good idea to review your policy every two to three years to make sure it covers recent home improvements, replacement costs for the contents of your home, and that its reconstruction coverage is keeping pace with inflation.

Do you have a Home Equity Line of Credit (HELOC) for emergencies?

Many homeowners are making the proactive choice to secure a Home Equity Line of Credit (HELOC) for emergencies. A HELOC is a revolving line of credit that only charges interest when you actually draw money from the line of credit. As you repay the balance of the draw, the credit becomes available again. Securing a HELOC in advance can be a great help if you're ever laid off or have an unexpected medical or other emergency.

How's your credit report?

The information in your credit report has a huge impact on whether or not you will again qualify for a mortgage loan. That's why it's important to periodically check your credit report.

Now it's even easy to do so. A recent amendment to the federal Fair Credit Reporting Act (FCRA) mandates that each credit reporting company provide you with a free copy of your credit report, at your request, once a year. To request your free credit report, visit http://www.annualcreditreport.com/. (Free reports are being phased in over a nine-month period, rolling from the west coast to the east beginningDecember 1, 2004. By September 1, 2005, free reports will be accessible to all consumers.)

Are you making the most of your home's equity?

With rising home prices, you may have more equity in your home than you realize. Taking out a home equity loan to payoff credit card debt, car loans and other higher interest debts makes good financial sense.

Is it time to refinance?

The timing might be right to refinance your mortgage loan. New rates may help you significantly lower your monthly payment. Or you might want to "cash out" some of the built-up equity in your home, which you can use to consolidate debt, improve your home, take a vacation - whatever! Perhaps by refinancing you can even pay off your mortgage sooner!

We'll work with you to determine if the timing is right to change your loan program, considering your cash on hand, how likely you are to sell your home in the near future, and what effect refinancing might have on your future plans.

Documenting Assets

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Thu, 25 Oct 2007 16:33:28 -0500

Verifying Your Down Payment,
Closing Costs, Assets, Income and Debts

A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower.

Down Payment & Closing Costs

Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan.

Take extra care to document the sources for any monies to be used for the down payment or closing costs.

Acceptable Down Payment & Closing Costs Sources

Cash in a bank account
Mutual funds / stocks / IRA / 401(K)
Proceeds from the sale of another property
Gift from an immediate relative

Assets

Collect information about your personal assets that add to your net worth and help to prove your credit worthiness.

Common Assets Considered in a Mortgage Loan Application

•· Stocks, bonds, mutual funds, 401(K) and retirement accounts

•· Life insurance

•· Personal property estimate - cars, boats, antiques, jewelry, etc.

•· Other real estate or property

Income and Employment

The lender will want to confirm your current gross income and have evidence of stable employment. Documentation requirements vary depending upon a number of factors - including the source of income (hourly, salary, salary + bonuses, salary + commission, commission, self-employed, etc.).

Debts

Your lender will want to review a list of all your current debts. This along with your credit report will provide the lender with a snapshot of your obligations. The lender will want to confirm that you will not be overextended when the mortgage payment is added to your current debt load.

Disputing Credit Reports

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Thu, 25 Oct 2007 16:28:35 -0500

Your credit report is a record of your credit activities. It lists all of your credit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken against you because of unpaid bills such as a lawsuit or bankruptcy filing. Because businesses use this information to evaluate your applications for credit, insurance and employment, it's important that the information in your report is complete and accurate, especially if you plan to make a big purchase like a home.

The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission (FTC), is designed to promote accuracy and ensure the privacy of the information used in consumer reports. Under the FCRA, both the credit reporting agency (CRA) and the organization that provided the information to the CRA (usually the credit card company) must correct any errors or incomplete information in your report.

If you do encounter a mistake on your credit report, several steps need to be taken to correct the matter:

1. The first thing to do is get a copy of your credit report from each of the three major CRAs: Equifax, http://www.equifax.com/; Experian, http://www.experian.com/; and TransUnion, http://www.tuc.com/.

2 In a written letter, tell the CRA what information you believe to be inaccurate. Include copies (not originals) of documents that support your position. Provide your complete name and address, identify each item in your report you dispute, and request deletion or correction. Be sure to make copies of your dispute letter and enclosures.

3. Send your letter by certified mail, return receipt requested, so you can document what the CRA received.

4. The FCRA mandates that all CRAs reinvestigate the items in question - usually within 30 days - unless they consider your dispute frivolous. They also must forward all relevant data you provide about the dispute to the credit card company. After the credit card company receives notice of a dispute from the CRA, it must investigate, review all relevant information and report the results to the CRA.

5. If the disputed information is found to be inaccurate, the credit card company must notify all nationwide CRAs so they can correct this information in your file. Disputed information that cannot be verified must be deleted from your file.

6. When the reinvestigation is complete, the CRA must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the CRA cannot put the disputed information back in your file unless the credit card company verifies its accuracy and completeness, and the CRA gives you a written notice that includes the name, address, and phone number of the credit card company.

7. In addition to the CRA, you should also write to the credit card company about the error. Again, include copies of documents that support your dispute. If you are correct - meaning the information you disputed is found inaccurate - the credit card company cannot use it again. Further, at your request, the CRA must send notices of corrections to anyone who received your report in the past six months.

Why you should get an Inspection?

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Tue, 16 Oct 2007 13:37:51 -0500

Whether you are buying or selling a home, you should have a professional home inspection performed.

A home inspection will look at the systems that make up the building such as:

Structural elements, foundation, framing etc
Plumbing systems
Roofing
Electrical systems
Cosmetic condition, paint, siding etc

Living Trusts

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Mon, 15 Oct 2007 12:47:51 -0500

Living Trusts

Advantages to a Living Trust Holding Title

A husband and wife can establish a joint revocable living trust.
While the trustor serves as a trustee or a co-trustee, a separate tax return is not required for the trust.
The revocable living trust allows the trustee to buy, sell and finance assets just as before.
In the event of incapacitation, management of the living trust passes to the successor trustee without the necessity of a court-appointed conservator.
The living trust can be cancelled or changed at any time before death or incapacitation.
Probate - including multi-state probate - is avoided when assets are held in a living trust. (Often probate takes 9 to 12 months.)
Privacy. When a decedent dies with a living trust, the provisions of that trust usually do not become public.
Litigation is discouraged by a living trust.
A married couple with a living trust can reduce or eliminate federal estate taxes by setting up an Exemption Trust. While both are alive the assets remain in the revocable living trust. Upon the death of a spouse, the trust is split into two trusts: the survivors trust and an exemption trust. (For tax purposes, the surviving spouse and the exemption trust are two separate taxpayers.)

Disadvantages of a Living Trust

A living trust will cost more to set-up than an estate plan with only a will.
A trust agreement with a new will must be set-up.
Transferring assets into the living trust will require paperwork and incur costs not encountered with a less elaborate estate plan.
Handling an Exemption Trust may require extra effort from the surviving spouse.
Some lenders may require property held in a living trust be removed from the living trust to refinance the property.

Common Terms

Trustor: Creates the revocable living trust and transfers major assets into it. (A husband and wife can have a joint living trust or each can have their own living trust.)

Trustee: Manages the living trust's assets.

Beneficiary: Receives the assets of the living trust.

Initially the trustor, trustee and beneficiary are the same person(s).

Holding Title

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 05 Oct 2007 17:44:16 -0500

Before you reach the closing day, you will want to make a decision as to how you will "hold title" to the property. This decision has legal, tax and estate planning ramifications. Therefore, it may be prudent to consult an attorney or certified public accountant (CPA).

The following information is supplied for informational purposes and should not be relied upon as legal definitions.

Buying Alone

Sole Ownership

A single individual who has not been legally married.
An unmarried individual who was married and is now legally divorced.
A married individual who wishes to acquire title in his or her name alone. At the time of closing, the spouse of the buyer will be required to specifically disclaim or relinquish his or her right, title and interest to the property.

Living Trust
A living trust is created while an individual is alive and gives the individual control of the distribution of his or her estate. The individual transfers ownership of his or her property and assets into the trust.

Buying with Others

Tenancy in Common
Enables each partner in the property to sell, lease or will to his/her heirs that share of the property belonging to him/her.

Who can take title? Any number of individuals.
Ownership Division: Any number of interests, equal or unequal.
Who holds title? A separate legal title to his undivided interest is held by each co-owner.
Possession: Equal right of possession.

Joint Tenancy
Property owned by multiple individuals where if one of the owners dies, the remaining owners acquire the share of the deceased owner automatically.

Who can take title? Any number of individuals.
Ownership Division: Interests cannot be divided.
Who holds title? There is only one title to the whole property.
Possession: Equal right of possession.

Community Property
Property owned equally between a husband and wife. Each must sign all agreements and documents of transfer.

Who can take title? Only a husband and wife.
Ownership Division: Interests are equal.
Who holds title? Similar to title being in a partnership, title is held in "community."
Possession: Equal right of possession.

Additional Ways to Hold Title

Corporation
A corporation is a legal entity, created under state law, consisting of one or more shareholders but regarded under law as having essentially the same as those of an individual. The entity has continuous existence until it is dissolved according to legal procedures. Land owned by a corporation cannot be attached for personal debts or judgments rendered against any of its shareholders.

A Partnership
A partnership is an association of two or more persons who can carry on business for profit. A partnership may hold title to real property in the name of the partnership with partners having an equal or an unequal interest in the property.

A Trust
A trust is an arrangement whereby legal title to property is transferred by the grantor (or trustor) to a person called a trustee, to be held and managed by that person for the benefit of the people specified in the trust agreement, called beneficiaries.

Save money during the holidays and buy that dream house in the New Year

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Wed, 03 Oct 2007 15:48:33 -0500

The holidays can put a dent in your savings especially if you're planning to buy a home. But there are several ways to cut costs so your finances aren't in the red by New Year's Day. Consider the following money saving tips:

In lieu of buying presents for every family member, suggest a gift exchange and draw names out of a hat.
Agree on a spending limit for gifts for friends and family and stick to it.
Make your holiday meals a potluck and assign each guest an item to bring.
To prevent the urge to overspend when shopping, use cash and leave your credit cards at home.
Consider buying a joint gift rather than individual gifts for a family such as a zoo membership or movie tickets.
Instead of holiday wrap, buy monochromatic wrap in holiday colors such as green, red, or gold that can be used all year.
For young children, half the fun of holidays is often opening the gifts. Wrap small, inexpensive items separately - coloring books, crayons and picture books or novels, even stocking stuffers work well. Or recycle hand-me-down toys by wrapping them up and putting them under the tree.
Instead of spending a lot of money on gifts from the mall, give homemade treats like fudge, truffles, cookies or jams and jellies.
To cut down on postage and holiday card costs, send mail only to out-of-town friends and family you're not likely to see throughout the year. Or send e-cards, which are usually free.
To keep your electricity bill down, use a timer to turn outdoor lights on and off at designated hours.
If you know you won't be able to pay your credit card off right away, make sure you use a single low-interest card to make purchases - that way you can easily track them.
When traveling during the holidays, try to fly on the day of the actual holiday (Thanksgiving Day, Christmas Day). It's usually cheaper and there are plenty of seats.
Subscribe to receive e-newsletters from your favorite online merchants. They will often e-mail coupons to use for savings on purchases and shipping costs. Or subscribers may receive private sale information.
Sometimes buying an item online is cheaper than going to the store since many sites don't charge sales tax and offer free shipping. Use the savings to have the gift mailed directly to the recipient instead of standing in line at the post office.
Instead of buying an expensive gift, make a donation to a worthy cause in a friend or family member's name.

Things to avoid before buying a home

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Tue, 02 Oct 2007 19:25:34 -0500

Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible:

Don't make an expensive purchase. It may be tempting to order that new sofa for your soon-to-be living room, but its best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, or vacations until after the closing. Financing that furniture with a store credit card or even one of your own credit cards could jeopardize your credit worthiness during the time it means the most. Using cash to purchase big items can also create a problem because many banks take into consideration your cash reserve when approving your mortgage.
Don't get a new job. Lenders like to see a consistent job history. Generally, changing jobs will not affect your ability to qualify for a mortgage loan - especially if you are going to be making more money. But for some people, getting a new job during the loan approval process could raise some concern and affect your application.
Don't switch banks or move money around. As your lender reviews your loan package, you will likely be asked to provide bank statements for the last two or three months on your checking accounts, savings accounts, money market funds and other liquid assets. To eliminate potential fraud, most loans require a thorough paper trail to document the source of all funds. Changing banks or transferring money to another account - even if its just to consolidate funds - could make it difficult for the lender to document your funds.
Don't give a good faith deposit directly to the seller in a FSBO purchase. As a rule, your good faith deposit belongs to you, not to the seller, until the deal closes. Your FSBO seller may not know that your good faith funds should be applied to your expenses at closing. Get an attorney or other neutral party who can hold the deposit or put it in a trust account until you close on the home. Your purchase contract should dictate to whom the funds go should the transaction fall through.
Don't disregard your lenders requirements. You may have been pre-approved for the loan but your work with the lender is far from over. In order to process your loan, you need to meet certain requirements. Your lender will need copies of your bank statements, W2s and other paperwork. It is up to you to get it to him or her as soon as possible. Failure to submit certain qualifying documents could cause you to lose your loan and the financing you need to buy your home.

Winterizing Your Home

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Mon, 01 Oct 2007 11:56:10 -0500

Whether you are buying or selling a home, you should have a professional home inspection performed.

A home inspection will look at the systems that make up the building such as:

Structural elements, foundation, framing etc
Plumbing systems
Roofing
Electrical systems
Cosmetic condition, paint, siding etc

Likewise, if you are selling a home, you want to know about such potential hidden problems before your house goes on the market. Almost all contracts include the condition that the contract is contingent upon completion of a satisfactory inspection. And most buyers are going to insist that the inspection be a professional home inspection, usually by an inspector they hire. If the buyer's inspector finds a problem, it can cause the buyer to get cold feet and the deal can often fall through. At best, surprise problems uncovered by the buyer's inspector will cause delays in closing, and usually you will have to pay for repairs at the last minute, or take a lower price on your home.

It's better to pay for your own inspection before putting your home on the market. Find out about any hidden problems and correct them in advance. Otherwise, you can count on the buyer's inspector finding them, at the worst possible time. Old Man Winter is settling in for a long chilly season. Before the temperatures dip too far south, follow these simple guidelines to winterize your home and save money on utilities.

Inside Your Home

Have your furnace system serviced to ensure it's working efficiently and not emitting carbon monoxide.
Clean permanent furnace filters and replace paper or disposable filters.
Replace the batteries in smoke and carbon monoxide detectors.
If you have a wood stove or fireplace, have your chimney swept thoroughly. It should be cleaned before the soot build up reaches one-fourth inch thickness inside the chimney flue.
Check your hot water heater for leaks and maintain proper temperature setting (120 degrees recommended by Department of Energy). On older water heaters with less insulation, for every 10 degrees Fahrenheit you lower the temperature, you save 6 percent of your water heating energy.
Check the attic to see if insulation needs to be added or replaced. This is the most significant area of heat loss in many homes, so it is also important to see that it has proper ventilation. Inadequate ventilation could lead to premature deterioration of the insulation materials. You may also need to check insulation in exterior walls, crawl spaces and along foundation walls.
Check all windows and doors for air leaks. Install storm windows and putty, caulk or add weather stripping as needed.
Check basement and cellars for seal cracks or leaks in walls and floor.
Make sure all vents are clean and operating properly.
Clean and vacuum baseboard heaters, heating ducts and vents.
Remove or winterize air conditioning units.

Outside Your Home

Store or cover outdoor furniture, toys and grill.
Purchase rock salt for melting snow and a shovel or snow blower if you don't already have one. Make sure you have the right kind of gas and oil on hand for your snow blower in the case of an unexpected snowstorm.
Caulk joints and minor cracks on exterior walls and siding.
Look for deteriorating finishes. Minor problems can be patched to preserve the wood. Put bigger jobs, such as scraping and refinishing painted or stained areas, on the calendar for next spring or early summer.
Drain and shut off sprinkler systems and other exterior water lines to avoid frozen and broken pipes. Leave all taps slightly open.
Insulate exterior spigots and other pipes that are subject to freezing but can't be drained or shut off.
Rake and compost leaves and garden debris, or put out for yard-waste pickup.
Clean storm drains, gutters and other drain pipes.
Check the foundation for proper drainage. To do this, spray yard with a hose to see if water runs away from the house. A little shoveling to reshape the earth next to the house may make the water run away from the foundation.
Make sure dirt or piles of wood don't come into contact with or touch siding, inviting termites and carpenter ants into the house.
Seal driveway and walkway cracks, if needed, before ground freezes regularly.
Inspect the roof for loose, damaged or missing pieces.
Check attic vent openings for nests or other blockages.

Avoid Holiday Theft

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Fri, 28 Sep 2007 13:27:55 -0500

Although we'd like to believe the holidays bring out peace on earth and good will towards men (as the Christmas carol goes), the weeks between Thanksgiving and New Year's Day tend to be a prime season for criminals. During this busy time of year, you can take some easy precautions to prevent becoming a victim of theft. Consider the following safety tips:

When holiday shopping:

Don't park in unlit areas at night.
Put your shopping bags in your trunk. Don't try to cover items on your seats with a blanket. Better yet, take your packages straight home after a shopping spree and then go back out.
Don't carry large amounts of cash with you, or else, keep it in your front pocket not in your purse or wallet.
Be extra careful when carrying a purse - they are the prime targets of criminals in crowded shopping areas. If you must carry one, make sure it has a strap that can go over the shoulder and be held under the arm, making them more difficult for purse snatchers to grab.
Keep a record of all of your credit card numbers in a safe place at home.
Beware of strangers approaching you. This is the time of year when thieves may try various methods to distract you with the intention of taking your money or belongings.

At home:

When leaving home for an extended time, have a neighbor or family member watch your house and pick up your newspapers and mail.
Leave a light on when you leave your home at night or put your lights (including Christmas lights) on an automatic timer.
Make sure your holiday gifts are not visible through the windows and doors of your home.
Never say you are away from home on the outgoing message on you answering machine or voice mail. Simply say you are unable to get answer the phone at the time.

During the holidays, many people can become careless and vulnerable to theft and other holiday crime. Protecting yourself and your home from potential crime is the easiest way to ensure a safe and happy holiday season.

How Escrow Works

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Thu, 27 Sep 2007 12:39:54 -0500

Closing the Sale

The documentation the escrow holder may be collecting includes:

Loan documents
Tax statements
Fire and other insurance policies
Title insurance policies
Terms of sale and any seller-assisted financing
Requests for payment for various services to be paid out of escrow funds

At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. As your real estate agent, I'll inform you of the acceptable form.

The Escrow Holder Will:		The Escrow Holder Won't:
Prepare escrow instructions Request title search Comply with lender's requirements as specified in the escrow agreement Receive funds from the buyer Prorate insurance, tax, interest and other payments according to instructions Record deeds and other documents as instructed Request title insurance policy Close escrow when all instructions of seller and buyer have been met Disburse funds and finalize instructions		Give advice - the escrow holder must maintain neutral, third-party status Offer opinions about tax implications

Mortgage Escrow Account

1837 Seasons Street, Simi Valley, Ca 93065/ 1% Buyer rebate/1% Listing Fee Full service 805-551-9489

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Wed, 26 Sep 2007 13:44:13 -0500

1837 Seasons St, Simi Valley,1% REBATE
Type: Single Family Home
Location: Simi Valley Homes-1% BUYERS REBATE(805)551-9489
Price: $735,000 1% BUYERS REBATE
MLS #: 70002349

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Description:
Newer home in sought after Big Sky community! Close to brand new Big Sky Park. Light and bright open floor-plan over 2900 sqft with view from upstairs! Many features, including: Large eat-in kitchen with walk-in pantry opens into family room with fireplace. Recessed lighting throughout! One bed + bathroom and optional 5th bedroom/den downstairs. Master suite boasts huge walk-in closet, vanity and upgraded Jacuzzi tub! French doors lead out to pool-sized yard!CONTACT AMERICAN HOMES FOR A SHOWING.. We Sell Homes For 1 % Full Service!! (805) 551-9489. Simi Valley Homes and Real Estate California, Moorpark Homes and Real Estate California, Thousand Oaks Homes and Real Estate California. (805) 551-9489 --------------------------------------------------------------------------------

Resale	Single Family Home	$735,000 1% BUYERS REBATE
Address: 1837 Seasons St	City/ST: Simi Valley, CA	Zip Code: 93065
Bedrooms: 4 Bathrooms: 3	Square Footage: 2907	MLS# 70002349

The following Virtual Tour panoramic photos for this property can be viewed online:
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5053 Shady Trail,Simi Valley, Ca/1% Buyer rebate/1% Listing Fee Full service 805-551-9489

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Wed, 26 Sep 2007 12:59:56 -0500

5053 Shady Trail,Simi Valley,1% REBATE
Type: Single Family Home
Location: Simi Valley Homes 1% BUYERS REBATE (805) 551-9489
Price: $1,150,000 1% BUYERS REBATE
MLS #: 70009996

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Description:
Luxurious Encantada Home on a 14,000 sq ft lot! Looks like a model! Private pool with sheer descents and jacuzzi! Built-in BBQ ready! Formal entry with travertine floors throughout downstairs. Downstairs office, large gourmet kitchen with stainless steel appliances, granite counters, center island leading into family room with media niche. Upstairs laundry room. Large Bonus/Theatre room upstairs with drop down screen. Master retreat features balcony, Jacuzzi tub & dual entry in master shower! Great views and minutes away from Simi Hills and Lost Canyons Golf courses! -------------------------------------------------------------------------------- CONTACT AMERICAN HOMES FOR A SHOWING. (805) 551-9489. We Sell Homes For 1 % Full Service!! (805) 551-9489. Simi Valley Homes Real Estate California, Moorpark Homes Real Estate California, Thousand Oaks Homes Real Estate California. (805) 551-9489

Resale	Single Family Home	$1,150,000 1% BUYERS REBATE
Address: 5053 Shady Trail St	City/ST: Simi Valley, CA	Zip Code: 93063
Bedrooms: 5 Bathrooms: 5	Square Footage: 4123	MLS# 70009996

The following Virtual Tour panoramic photos for this property can be viewed online:
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4838 Seminole Circle,Simi Valley, Ca/1% Buyer rebate/1% Listing Fee Full service 805-551-9489

Melissa Lefton Simi Valley Real Estate Agent (Keller Williams) — Wed, 26 Sep 2007 12:52:01 -0500

4838 Seminole Cir,Simi Valley,1% REBATE
Type: Single Family Home
Location: Simi Valley Homes 1% BUYERS REBATE (805) 551-9489
Price: $649,500 1% BUYERS REBATE
MLS #: 70006972

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Description:
Great family home on cul-de-sac! Large yard with RV Access, Pool and Spa on a 10,000 sqft lot. Interior boast large family kitchen with dining, center island and fireplace, bonus room off garage and so much more!CONTACT AMERICAN HOMES FOR A SHOWING.. We Sell Homes For 1 % Full Service!! (805) 551-9489. Simi Valley Homes and Real Estate California, Moorpark Homes and Real Estate California, Thousand Oaks Homes and Real Estate California. (805) 551-9489 --------------------------------------------------------------------------------

Resale	Single Family Home	$649,500 1% BUYERS REBATE
Address: 4838 Seminole Cir	City/ST: Simi Valley, CA	Zip Code: 93063
Bedrooms: 3 Bathrooms: 2	Square Footage: 1458	MLS# 70006972

The following Virtual Tour panoramic photos for this property can be viewed online:
Virtual Tour

The following Special Links for this property are available online:
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