coachella valley real estate: Email Hacked, and other Interesting Frauds? Things You Need to do NOW - 10/16/12 01:16 AM
There seems to be a multitude of real estate scams lately, and just as frightening is Email Hacking. Both can cost you financially and emotionally.
Many real estate scams involve con artists pretending to be lenders or short sales specialists. They often prey on the elderly and those less educated. The important thing here is to carefully check these people out and NEVER give them any “up-front money” in lieu of work they are promising to do for you.
For many years now I have been subscribing to ASK LEO, an Internet Newsletter written by Leo Notenboom.  Here’s an article I read regarding … (29 comments)

coachella valley real estate: Protection for you and your home - 10/08/12 10:51 PM
There’s been a lot of talk lately about guns. Personally, guns frighten me, but there are other ways to protect ourselves when we find ourselves confronted with danger. If you don't have a gun, here's a more humane way to wreck someone's evil plans for you. (I guess I can get rid of the baseball bat.)
Following are a few suggestions I received via email for protecting yourself:
A friend who is a receptionist in a church in a high risk area was concerned about someone coming into the office on Monday to rob them when they were counting … (0 comments)

coachella valley real estate: You Want HOW MUCH for Your Home? - 09/25/12 02:14 AM

Recently I’ve been working with a Cash Buyer who also happens to be a Realtor in another city. I was showing homes in the Palm Springs Desert Area of California in a city called Rancho Mirage.  She and her husband are SERIOUS BUYERS, but they are NOT STUPID and NAÏVE BUYERS. Here’s the problem I’ve recently encountered when looking at many of the homes currently on the market.
Many of the Homes Are Grossly Over-Priced and the Sellers Refuse to Price their Homes REALISTICALLY. They will only sell if they get THEIR PRICE, not the price the market is … (6 comments)

coachella valley real estate: 5th Annual Fraud Awareness Fair - 09/18/12 02:54 AM
Unfortunately, I wasn’t able to publish this in enough time to give you all the details of the fair which was held September 5th in Sacramento, California.
Organizations around the world lose an estimated 5 percent of their annual revenues to fraud, according to a survey of fraud experts conducted by the Association of Certified Fraud Examiners (ACFE). It is against this backdrop that the ACFE urges organizations worldwide to participate in International Fraud Awareness Week, Nov. 11-17, 2012 to help cast a spotlight on this urgent problem.
It’s sad when we need to attend Fraud Awareness Fairs in … (0 comments)

coachella valley real estate: Speeding Up Short Sales - 09/11/12 03:12 AM
With rules that take effect (in June 2012), federal regulators have hopes of greatly streamlining the short-sale process.
Starting June 15, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers a final decision within 60 days. (In a short sale, a lender agrees to accept less than the balance on a mortgage.)
Fannie and Freddie must also respond to initial requests for a short sale within 30 days of receiving the buyer’s submission.
“Short sales are huge right now,” said Peter Spino, the foreclosure services manager … (0 comments)

coachella valley real estate: KINDNESS……IS IT AN OLD FASHIONED IDEA? - 09/04/12 01:35 AM
I recently attended a funeral Celebrating the Life of Dr. James Ward West. He passed away at the age of 98. Perhaps you recognize the name. Dr. West wrote weekly articles in the Desert Sun, a local Palm Springs newspaper, answering questions about alcohol and drug abuse. Betty Ford, a recovering alcoholic, as Dr.West was, once wrote she found a healer, a teacher and a friend in Dr. West.West pioneered substance-abuse programs and was named founding medical director of the Betty Ford Center in Rancho Mirage.
However, the purpose of this article is not to discuss the passing of Dr. West, … (0 comments)

coachella valley real estate: The Origin of Labor Day - 08/27/12 11:08 PM
Labor Day is a holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. Here’s something many of us have forgotten or never knew. The first Labor Day was organized by Peter J McGuire in 1882. McGuire was a carpenter and one of the leaders of the American union movement.
Over 10,000 workers marched from New York's City Hall to Union Square. After the parade they enjoyed a picnic, concert, and speeches at Reservoir Park with their families.  U.S. Congress made this a national holiday in 1894.In many cities across America, Labor … (4 comments)

coachella valley real estate: RENTAL SCAMS ON THE RISE - 08/20/12 09:56 PM

A number of Realtors across the country are reporting a rise in rental scams. Here’s how one of the most popular scams works:
A Realtor lists a home for SALE. Shortly after, a con artist puts this home on various websites and lists it for RENT at a VERY ATTRACTIVE PRICE, which is WELL BELOW MARKET. They suggest the renter immediately wire funds to them so they can hold the property for them. He explains he is currently out of the country, but will be returning shortly. The unsuspecting tenant wires the funds to the so-called landlord con … (2 comments)

coachella valley real estate: Bright Lights: How to illume your home. - 08/14/12 01:43 AM
Living is sunny Palm Springs, California offers lighting most days of the year, but many of our “snowbirds” live elsewhere, and may need some good lighting tips. Following is some lighting information I hope will prove helpful.
 Lighting falls into two groups: indirect (ambient) and direct (accent or task). The former sets a mood, and the latter spotlights centers of interest, or focuses on work surfaces.
Chandeliers are excellent sources of indirect light, and help create the illusion of more space. Track, pendant, and recessed lights can give off more direct light.  
Wall sconces are great choices … (2 comments)

coachella valley real estate: How to pump up your credit score - 08/07/12 01:35 AM

Following is an article I read in The New York Times I thought would be helpful. I can personally attest to the insanity involved in obtaining a loan nowadays. I would suggest you pay attention to the following article. You might not imagine the “horrors” of obtaining a loan or refinancing, but I guarantee you, most of what you read and hear about trying to qualify for a loan is TRUE.
To avoid another real estate bubble, many lenders have tightened their mortgage requirements.  According to a report by the Federal Reserve, a majority of banks are less likely … (4 comments)

coachella valley real estate: Catch Me If You Can; THIRTEEN THINGS YOUR BURGLAR WON'T TELL YOU - 07/30/12 11:04 PM
I recently listened to Frank Abagnale Jr tell his life’s story which has been profiled on TV, in the movies and in many books. Abagnale was the con artist, who was later hired by the FBI to help them learn many of the “tricks of the trade.” If you saw the movie “Catch Me If You Can,” you’ll know who I am referring to. These stories were all based on Abagnale’s life.
The reason I mention this is simply to alert you to the dangers lurking around many corners. Most of us are “everyday people, living everyday lives, but not everybody … (0 comments)

coachella valley real estate: Why Did Banks Fail? - 07/24/12 02:27 AM
Lots of BLAME on Government,
Little BLAME on the Real Culprits!
What happened? Basically, they made a lot of really bad mortgage loans.We can argue about why, whether it was the gov't pushing them to do it, or greed on their part, or whatever. But in the end, they made a lot of loans they shouldn't have, and when the housing bubble popped, they got burned badly.
Below is from Wikipedia
2007–2012 global financial crises
The 2007–2012 global financial crisis, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to be the … (0 comments)

coachella valley real estate: THE WORM HAS TURNED, in the housing market. - 07/17/12 02:23 AM
Please forgive me.  I was actually using a worm as a metaphor to describe what’s been happening in our market to “grab your attention.” Did it work?
As we all know, the real estate market pretty much “peaked” in 2005…then started to spiral downward for the next 6-7 years.  Most markets lost 30%-35% of their value. Some areas were hit even harder.
Well…that’s all beginning to change. Recently I received an email from Sun City Shadow Hills, a large Senior Development in Indio, just east of Palm Desert, telling me they would be RAISING PRICES, as other builders are starting to … (3 comments)

coachella valley real estate: BY GOLLY…I THINK WE’VE JUST TURNED A HUGE CORNER! - 06/25/12 11:10 PM
Here are a few headlines from June 20, 2012:
Americans See Biggest Home Equity Jump in 60 Years: Mortgages:
Americans are digging themselves out of mortgage debt. Home equity in the first quarter rose to the highest level since 2008 as homeowners taking advantage of record-low borrowing costs to refinance their loans brought cash to the table to pay down principal. The 7.3 percent gain was the biggest jump in more than 60 years, according to an analysis by Bloomberg of Federal Reserve data.
Rental Market Still Tightening: Moody's:
Now is the time to buy INVESTMENT PROPERTIES. With vacancies declining and … (1 comments)

coachella valley real estate: Common Types of Scams Involving Fraudulent Deeds; With Some Notes of Caution - 04/23/12 05:32 PM
Part 2 of 2: ByWayneS.Bell(Chief Counsel) andSummerB.Bakotich(Special Investigator) – California Department of Real Estate Part 1 click here
Last week we discussed Fraudulent Deeds recorded against properties. This week we will discuss scams used to falsify deeds. Following is an article received from the California Department of Real Estate.
There are numerous types and scenarios of deed fraud, and they are only limited by the creativity, abilities, and tactics of the fraudsters. Thus, the cases mentioned below are not exhaustive, but illustrations only.
A fraudster may forge a homeowner’s name on a quitclaim deed or another deed to a home. The … (2 comments)

coachella valley real estate: Special Needs for Seniors - 03/27/12 03:20 AM
About a year ago, I was made aware that Veterans who served in Active Duty could be eligible for benefits should they be in need of funds to help with home care during their senior years. Apparently, although funds have been set aside to assist these veterans, little is known about these services.
As a Senior Real Estate Specialist (SRES),I am often asked to assist seniors when it comes time to sell their property. There are times seniors need to move into assisted living, or move to another state to be closer to their children. Memories need to be packed away … (0 comments)

coachella valley real estate: CARBON MONOXIDE POISONING ALERT! - 03/20/12 01:44 AM

I received this notice from Linda Garrett with Property ID, an Independent Company who provides many of our clients with Disclosures regarding property matters.This Bill affects Homeowners in California.
Senate Bill 183 Lowenthal (SB183) created the Carbon Monoxide Poisoning Prevention Act of 2010 (Act). The Act requires carbon monoxide (CO) detectors to be installed in every dwelling unit intended for human occupancy. A CO detector is a device that detects the presence of CO and emits a loud noise to alert occupants that CO is present in order to prevent CO poisoning. Detection of CO in a home environment … (3 comments)

coachella valley real estate: Oh…The Joy of Short Sales - 03/06/12 01:04 AM
This is an article I found valuable from the California Newsline dated February 23, 2012. I feel it’s a well written article that outlines current issues.
Short Sales and Foreclosure Affect All of Us. They Pull Our Property Values DOWN!
To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process.
SenatorsLisaMurkowski(R-Alaska),ScottBrown(R-Massachusetts), andSherrodBrown(D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance … (0 comments)

coachella valley real estate: Foreclosures Continue to Decline - 02/14/12 04:07 AM
DavidBlitzer, the Chairman of the Index Committee wrote an article January 26, 2012 in the Housing Matrix about Foreclosures. He states RealtyTrac reports that foreclosure activity across the US in December, and the full year 2011, dropped sharply.
Foreclosure filings in 2011 totaled 2.7 million, down 34% from 2010 and 33% below 2009 and 19% below 2008. Overall 1.45% of US homes experienced a foreclosure filing, about one in every 69 houses. Comparable percentages for earlier years were 2.23% in 2010, 2.21 in 2009 and 1.84% in 2008. December foreclosure activity hit a 49 month low, down 9% from November and … (7 comments)

coachella valley real estate: Sure You Want To Do That Open House? - 01/31/12 04:53 AM
Here’s an article I think you should pay attention to, and just another reason WHY Open Houses may not be the best way to get that home sold. This article recently appeared in the Orange County RegisterBusiness Pages.
Wednesday, January 18, 2012— Realtors issued a warning to their members to be careful after two armed robbers held up a real estate agent and a prospective homebuyer at gunpoint at a Fullerton open house recently.
No one was injured in the incident, but the bandits made off with a large amount of cash that the house shopper had with him.
Although real … (7 comments)

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Nancy Hankin

Palm Springs, CA

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