So I have recently been turned on to TLC's "Extreme Couponing" show and I am hooked! The season finale is this Wednesday (6/15/11) at 9:30pm. I won't be up but my DVR is already on it. If you haven't seen an episode, check your On Demand feature for TLC.  The show is only 30 minutes long.

I am just beginning to explore the coupon world.  Apparently it is more complicated than you might think.  After watching the show a couple of times, I can't really imagine being able to accomplish the extreme savings that the show depicts.  I believe it can be done but am sure that I won't be able to devote the time that would clearly be necessary.  I have also determined that it just might be a very organized and premeditated type of hoarding, LOL!  Regardless it has given me pause on how silly it is that I don't even look at the grocery store sales circulars ...not even the store I shop at regularly!

A few tips on what I've learned so far (some from a very helpful friend who may just be a bit more obsessed than I):

My Temecula Ralphs store on Highway 79 South will double coupons up to $1.00 ($ .50 becomes $1./ But $1. Is still just $1.)  If you register your rewards card online-you can load some of the coupons directly onto the card without having to print them out.  Manufacturer coupons are available to print out and use anywhere.  You can also create your shopping list directly from clicking on their sale paper.  Awesome time saver!

My Temecula Albertsons
on Rancho California Road offers a $ 5.00 off $25.00 purchase just for signing up HERE  for email updates on sales and coupons. You earn additional coupons for up to 5 friends you can get to sign up.  Be careful not to sign up until you want the coupon though.  They only gave me 1 week to use it so plan accordingly. You can create an online account as well and create a shopping list directly from the sales paper. There is also a large coupon book inside of the Albertsons store that has coupons I did not find online so you may want to grab that up.

My Temecula Newspaper
The Press Enterprise will allow you to subscribe to Sundays only so that you can get the weekly coupons and sales papers delivered to your front door.

I have only accomplished the "completely free" item once and I could only get 2 free because I only had 2 coupons...but it was exciting, even if it was just toothpaste!

Why do you or don't you use coupons?  Do you have any tips on saving money in The Temecula Valley that you would like to share?

Check out this post on this Saturday's City wide clean up and waste disposal day for the residents

Live Temecula!

The 9^th Annual Community Water Conservation Festival is going to take place on Saturday, April 16^th, 2011 at Diamond Valley Lake from 10:00am - 3:00pm.

Diamond Valley Lake is located between Temecula, Murrieta, Menifee and Hemet cities off of Winchester Road (also 79 North) and Domenigoni Parkway (also Newport Road). The event will take place at the Diamond Valley Lake Visitor Center at 2325 Searl Parkway, Hemet, CA 92543.

This is a FREE EVENT that will include activities and fun for the kids like face painting, a fishing simulator, the Aqua Smart puppet program & make and take activities. There will also be water wise demonstrations throughout the day including drip irrigation, new landscaping technology, artificial turf information and rebate programs from SoCal Water Smart.

There is a LANDSCAPE WORKSHOP at 12:30.

There will be FREE DRAWINGS and give-aways.

For more information about the event you can click HERE for the Flier or call (951) 765-2612

The Oak Grove Center For Education  in Murrieta is Hosting the Evening Under the Oaks on April 23, 2011.

Evening Under the Oaks is a casual evening affair offering fine dining that includes a live and silent auction, live entertainment, dinner and dancing.   

Dinner options will include delicious menu items from Simply Sharon's Restaurant, BJ's Restaurant & Brewery, Pala Resort Casino and Spa, Smokey Mountain Catering, Great Harvest Bread Company, Ponte Winery, South Coast Winery, Rustico Restaurant and La Cocina Bar & Grill, Espresso Chauffer, US Foods and Sweet Layers Cakes and Pastries.   

Items for bid in the live and silent auctions will include weekend getaway accommodations to Anaheim, Reno, Las Vegas, San Diego and Newport Beach, dinner packages at Yves' Restaurant Wine Bar, BJ's Restaurant & Brewery, The Club House at Anaheim Golf Course and Callaway Vineyard & Winery, tickets to tapings of the Dr. Phil Show and Jimmy Kimmel Live, Hornblower Cruise tickets, gift cards, zoo tickets and much, much more.     

To reserve you tickets for Evening Under the Oaks or donate an auction item, please contact Cheryl Lievsay at (951) 677-5599 ext. 2238.  

 The Home Affordable Foreclosure Alternatives (HAFA) Program is a government sponsored program that allows borrowers (homeowners) that are in financial trouble to avoid foreclosure either through a short sale or a deed in lieu of foreclosure. The program is designed to be implemented either after the HAMP loan modification has failed or (as recently amended) is in process as an option to sale. There are different guidelines to the program dependant on whether or not your loan is a Fannie Mae/Freddie Mac or a non government sponsored enterprise (GSE). The combination of these holders equates to more than 90% of the home loans out now so it is a program that should continue to grow in success as servicers and real estate professionals embrace and help implement it for their clients. The program not only offers up to $3,000 in relocation funds to the borrowers on a successful closing but also provides financial incentives to the servicers and first lien investors for their cooperation.

Overview of the basic guidelines for eligibility is as follows:

• The property must be your principle residence. Property can be vacant or rented up to 12 months prior to the Short Sale Addendum(SSA), as long as you can prove that it was your primary residence and that you have not purchased a 1-4 unit family property in those 12 months.
• The mortgage loan is a first lien originated on or before January 1, 2009.
• The mortgage is delinquent or default is reasonably foreseeable.
• The current unpaid principle balance is $729,750 or less. (Higher amounts apply to 2-4 unit properties).
• Borrower must be able to sign a Hardship Affidavit (or in some cases write a Hardship Letter explaining the circumstances of financial distress).
• Your lender has agreed to be a part of the HAFA/HAMP program.
• You have to be able to provide clear and marketable title.
• You have to sign an "arms length transaction" affidavit.

  Investors are allowed to implement their own standards in addition to these so it is impossible to detail every possible scenario.

 Overview of the basic incentives of the program is as follows:

• An option to foreclosure becoming a part of your permanent history.
• Uses a standard process, documents and timeframes.
• Servicer must reply to an executed contract within 30 days.
• Provides financial incentives of up to $3,000 for your relocation.
• Requires you to be fully released from future liability for the first mortgage debt and if a subordinate lien holder receives a payment from the first lien holder to enable the transaction, that debt as well. (Forgiven debt could have tax and credit rating impact...you are advised to seek financial and tax advice from a professional.)

So in a nutshell it appears to be a great program that the majority of homeowners facing financial difficulty will at the very least need to be considered for. Please consult with a professional Realtor in your area about your circumstances and the current value of your home for information detailed to your situation. You will be advised to seek legal advice since a short sale is not always in the best interest of every homeowner. If you live in Temecula, Murrieta, Wildomar, Lake Elsinore, Menifee or Winchester that professional Realtor is us! We'd love to talk with you about your situation and see how we can help. April (951) 522-0518 or Gary (951) 522-6308 or email us at teamgreer@tarbell.com

Tarbell Realtors is not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.

If you live in Temecula (and some areas of Murrieta) than you know that Rancho California Water District recently implemented their new Budget Based Tiered Water Rate Structure.  Basically they used County data and GIS to determine how much of your property is landscaped along with default information on how many people are living in the home, if there is a pool, etc.  In some cases their data is wrong (imagine that) and you have the right to request that they review their data along with information supplied by you. 

We recently had to do this and were able to increase the square footage of landscaped area by a couple of thousand feet. 

You can view the information that they are using in the lower left hand portion of your water bill under Water Budget Information.  If you do not agree with what they have on file you can print out the Variance Form from their website, complete and mail to them.  Some of the items to consider are large animals, pool, additional family members, daycare, etc.

The Temecula Balloon and Wine Festival is going to be  June 3rd, 4th & 5th this year.  Buy your tickets early!  There are local locations if you don't want to purchase online and you save $2.00 at Vons with a Vons card.

If you haven't seen the balloon glow it might be worth the trip just for that!  The balloon glow will be Friday and Saturday evenings after sundown, weather permitting. 

Anybody have a great story to share about the Temecula Balloon and Wine Festival?  I would love to hear it!  Or maybe a festival in your area that you love?

P.S.   If you will be visiting from out of the area and are curious about making your home in our valley, please give us a call to set up a complimentary tour of homes in the area.  (951) 522-6308 or (951) 522-0518

The Home Affordable Foreclosure Alternatives (HAFA) program will continue to grow and change as the market conditions change.   It's very important for Real Estate Professionals to stay on top of these changes to help their clients through potential loan modifications and short sales if and when the client deems them a necessary course of action.

In December 2010 a handbook  was issued by the Treasury (version 3.0) for Servicers of Non GSE Mortgages.  This means the program that details the HAFA guidelines specifically for loans that are not owned or guaranteed by Fannie Mae or Freddie Mac (they have their own guidelines).  It also specifically applies to Loan Servicers that have signed a HAFA participation agreement (which includes 90%+ of the loans in effect).

The changes to this handbook are here Supplemental Directive effective February 1, 2011

One of the most interesting changes to me is that they are withdrawing the requirement for the mortgage payments to be more than 31% of the Borrower's monthly income.

What do you find interesting?  How do you think this will effect your dealings with the HAFA program?

My Temecula Blog is Here!

In a standard real estate transaction -closing costs (including the sales commission) are deducted from the Seller's equity in the home.  Pretty straight forward.  Looks a little like this, overly simplified:

$ 350,000  Home Sales Price

$ -150,000 Loan(s) on House

$   -21,000 Closing Costs

$  179,000 Balance to Seller 

However in the Short Sale transaction it becomes confusing to the average Seller.  In fact we're finding that the public in general does not have a clear understanding of what a short sale is, how it works, or let alone where the closing costs including commission comes from.  It leads Sellers in financial distress to believe that they can't afford a professional Realtor to sell their home because they don't think they have a way to pay them.  Wrong! 

The short sale simply IS that- the Seller doesn't have the equity, means, money, savings, etc. to pay anyone fully in the sale of their home.  Empty pockets!

When we sign a listing agreement with you to sell your home and we know we are in a short sale situation- yes we do put in a commission rate but we also include a disclaimer that we understand that payment of the commission is contingent upon your bank coming to agreeable terms with you (Seller).  This agreement includes them accepting less than what is owed on your mortgage(s) because you are upside down in your house including closing costs.  In fact some Sellers just need help to cover the closing costs alone.

Here's the simplified scenario:

$ 350,000  Home Sales Price

$ -375,000 Loan(s) on House (including back payments, penalties, etc.)

$  -21,000  Closing Costs

$ -46,000  Negative Balance (Short Fall)   This is what we will have to negotiate with your bank to absorb in the sale of your home.

Obviously it is a little more complicated than that and everyone's scenario is different.  However the goal is always the same...to sell your home under mutually agreed upon terms by you and your bank.

Today is a good day to remind myself what I am thankful for, specifically about living in Temecula.  I am thankful for:

• Great schools and even better teachers
• Clean air and blue skies
• Breezy afternoons and ample sunshine
• Being an easy drive to the big cities, mountains or beaches
• A large, visible police force
• A lack of graffiti and violent crime
• Beautiful neighborhoods and affordable housing
• An abundance of parks and golf courses

I'm thankful that my kids still say the pledge of allegiance in their school and that I can enter without passing through a metal detector.  I can still talk to my banker without looking through bulletproof glass.  Miles and miles of vineyards turning fall colors right now and crisp sunrises with hot air balloons in the background...

What are you thankful for about where you live?