cardiff property: 7 THINGS ALL BORROWERS SHOULD KNOW ABOUT FHA LOANS - 07/05/10 02:14 AM
 

 
FHA Pros, LLC, a national FHA condo approval service, has developed a list of facts speaking to the top misconceptions associated with FHA loans in order to help home buyers better navigate an already confusing market. FHA loans are mortgages issued by qualified lenders and insured by the Federal Housing Administration (FHA).
1. FHA loans are not only for lower-income borrowers. FHA loans are available to everyone. There is no maximum income restriction associated with FHA loans, but borrowers do need to substantiate income and assets by submitting proper documentation.
2. FHA loans are not only for first-time … (1 comments)

cardiff property: Happy Independence Day America - 07/04/10 11:47 AM
I wanted to wish everyone a Happy 4th of July!  There’s nothing like to celebrating the day of our Independence with family and friends. Here’s some facts about the 4th from the US Census Bureau -
1. Thirty places nationwide have "liberty" in their name.
2. Eleven places have "independence" in their name.
3. Five places adopted the name "freedom."
4. There is one place named "patriot" — Patriot, Indiana.
5. There are five places called America.
6. There's a 1-in-6 chance the beef on your backyard grill came from Texas. The Lone Star State is the leader in the production … (1 comments)

cardiff property: Any Good News Regarding Short Sales? - 06/17/10 08:58 AM


Just a year ago, when pre-foreclosure and foreclosure properties were entering the market in unimaginable numbers, many real estate agents were estimating six to 10 months at best to complete a short sale. Now, some are beginning to see closings in as few as 10 weeks. That’s good news for sellers, the housing market and the U.S. economy.
The improvement is a product of a few key developments creating momentum in the lending industry. First, banks are starting to adjust to the market and becoming more proactive in creating systems and solutions for homeowners in distress. Second, and arguably … (0 comments)

cardiff property: Buyers Should Get In Hot Market - 05/20/10 02:05 AM
 For quite a few months now I have been sharing with anyone that would listen that the residential real estate market in North San Diego County has changed. It is vibrant, positive and on the move. Things are Selling and Buyers are out looking hard. NSDCAR HomeDex shows year-over median single-family detached homes in North San Diego County increased 21.67% from April 2009 and North County attached homes increased 22.46% from a year ago; making nine straight months of rising year-over prices.
  If you have been looking at any type of property in Carlsbad, Encinitas, Cardiff, Solana Beach or Del … (0 comments)

cardiff property: North County San Diego Homes Rise In April - 05/18/10 02:20 AM
NCSDAR reports reports show that April was an outstanding month for real estate sales and closings. The market, driven by lots of factors, not just the tax credits seems to be finding solid footing at last. The average sales price per transaction is almost two and a quarter times higher than it was last year. Listings sold volume is up, sales are up and far fewer sales are falling out of escrow due to buyers failing to qualify. Many have been affected in this area of buyers not qualifying like everyone else. This problem is also quieting down as the lenders … (0 comments)

cardiff property: So You Want To Buy A Foreclosure - 05/10/10 02:32 AM
 You want to buy a foreclosure? Remember, there are both great opportunities and great pressures and pitfalls in this market.
First, you have to decide at what stage of foreclosure you want to buy. There are three options: 1. pre-foreclosure; 2. sheriff's auction; 3. 
"The safest and best way to buy is when it's a bank-owned property," said Rick Sharga, a spokesman for RealtyTrac, the online marketer of foreclosure properties.
Pre-foreclosure: These homes are in the foreclosure process, but they have yet to be sent to auction. Owners are typically trying to unload them because they are "underwater," owing more on … (0 comments)

cardiff property: Military Veterans Earn one-Year Federal Tax Credit Extension - 04/27/10 03:08 PM
Military personnel, members of the Foreign Service, and employees of the intelligence community have an extra year, through June 2011, to buy a principal residence in the U.S. and claim the federal tax credit. The deadline for entering a binding contract is April 30, 2011; the deadline to close a purchase is June 30, 2011. The extension applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. All other … (1 comments)

cardiff property: Great Customer Service Will Make You Number 1 - 04/26/10 08:15 AM
 
Home sales are creeping up, short sales and loan modifications are being streamlined and consumers are recognizing the value of Realtor guidance. It’s all having a positive effect on many agents whose businesses saw a marked slowdown in the past few years. The ingredients for a successful rebound are brewing, which is good news for the industry.
The Big Picture According to the NAR 2009 Profile of Home Buyers and Sellers, nearly 80% of buyers consult a Realtor during their home search, and just 11% of sellers opt not to list their home with an agent. That puts FSBOs at … (2 comments)

cardiff property: New-home sales rise fastest in 47 years - 04/25/10 01:54 AM
 
 
According to the Census Bureau, new home sales improved in March at the fastest single-month rate in 47 years. New-home sales rose 26.9% to a seasonally adjusted annual rate of 411,000 last month, compared to an upwardly revised annual rate of 324,000 in February.
The March sales were the strongest since last July, and the percentage gain was the biggest on a month-over-month basis since a 31% gain in March 1963.
New-home sales spiked in every region of the United States. The South saw the biggest jump in new home sales, up 43.5%, while the Northeast region saw sales … (0 comments)

cardiff property: How foreclosure impacts your credit score - 04/24/10 02:47 AM
One thing I am asked often by clients and other agents is the impact of Foreclosures, short sales and died of lieu on credit scores. If you're delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much?
Until recently, those answers were hard to come by. Credit bureaus were uncommunicative about expressing, in points, just how much impact different foreclosure types of mortgage delinquencies have on scores.
Recently, Fair Isaac, which developed FICO scores, pulled back the curtain a bit, revealing some estimates of point-score declines following mortgage delinquency problems.
 
Here are … (3 comments)

cardiff property: March NCSDAR Single Family Attached Homes Report Shows North County Leading The Way - 04/21/10 01:01 AM
•The North San Diego County median-priced single-family attached (SFA) home increased 2.08 percent from $240,000 in February 2010 to $245,000 in March 2010, a second straight month price increase. The Non-North San Diego County SFA home median price rose 6.93 percent to $220,000 in March 2010 from $205,750 in February 2010.1
 
•North San Diego County SFA median prices increased 31.72 percent year-over from $186,000 in March 2009, for eight months of year-over price increases (the last two months exceeded 30 percent) following 24 months of year-over declines.
 
•The county-wide SFA home median price increased 4.65 percent from $215,000 in … (1 comments)

cardiff property: Common Mistakes made By Buyers - 04/20/10 01:01 AM
Buying a home is the biggest purchase most people will ever make, yet many go into it blind. Here are some common -- and costly -- mistakes homebuyers make.

1. Not knowing your credit score
 
If you're even toying with the idea of buying a home, you must find out exactly what your FICO score is. If you find it is less than ideal, wage a systematic campaign to raise it. Too many borrowers ignore this step and get surprised when they get interest rate quotes. For a buyer with a credit score between 680 and 700, the fee … (5 comments)

cardiff property: North County San Diego Single-Family Detached Homes Sales Show Price Gains, Less Days On Market - 04/19/10 01:16 AM
According to NCSDAR, our market is showing more signs of a recovery. The median days-on-market declined for North San Diego County SFD homes sold to 36 days in March 2010 from 40 days in February 2010. The average number of days-on-market fell from 74 in February 2010 to 68 in March 2010.2
 
The SFD median price-per-square foot rose to $228 in March 2010 from $222 in February 2010, up 23.69 percent year-over from March 2009 – the year-over median price-per-square foot has increased for five straight months (after over two years of price declines). The March 2010 median-per-square foot was … (0 comments)

cardiff property: Remodeling projects that should pay off - 04/18/10 10:54 AM
Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.
 
Rule No. 1: Repairs get the biggest returns
The smartest money now goes into "undeferring" needed maintenance. That's because while buyers … (3 comments)

cardiff property: The three-figure kitchen makeover - 04/16/10 01:02 AM
Living with an undersize, outdated kitchen? If so, a sledgehammer may feel like the only solution. But these days you're probably not up for spending the $50,000 or more -- maybe much more -- it would cost to demolish the space and build a new state-of-the-art room from scratch.
Fortunately you can make your existing kitchen work better with products that aim to solve nagging problems like dim lighting, cramped space, and overflowing cabinets. Even better, most of these clever solutions cost no more than a few hundred dollars.
Not enough workspace-
If your kitchen is skimpy on counter-tops, create extra … (1 comments)

cardiff property: Got a few grand and a few days? Get a perfect home - 04/15/10 01:53 AM

  Ever have a listing that has deteriorated into a mess but your potential clients explain they don't have the time or means to do a comprehensive redecorating job? 
You might want to read a new book by Jill Vegas called "Speed Decorating," which focuses on redecorating at a minimum cost and warp speed. Ideally, she makes the most of what you have, showing how to arrange it, what colors to paint, where to hang artwork -- and what flourishes to add.
"It's about having a home you love right away," she said. "Speed decorating is not about calling in contractors; … (0 comments)

cardiff property: Staying On Top Of A Difficult market - 04/14/10 01:07 AM
  Is the drama is nearly over? After a decade of extremes -- the ebullient highs of the real estate boom, then the devastating lows of the bust -- it appears calmer forces are beginning to prevail in the housing market.
The big fall-off in home values, which has taken the median price of a house down almost 30% since 2006, looks to be in its final stages in most places: Three-quarters of the nation's 384 metropolitan areas will see prices down less than 5% a year from now, according to projections from Fiserv and Moody's Economy.com; 10% seem poised for modest … (2 comments)

cardiff property: Tax man May be Coming For Those Who Foreclosed - 04/12/10 02:03 AM
I read a really interesting article this weekend. These are the things that make me cautious about what I say to clients when discussing a short sale or foreclosure because it seems to change all the time. 
 
According to the article, if you lost your home to foreclosure this year or  your lender forgave some of your mortgage debt because you sold it for less than it was worth, you could be facing a big tax hit.
It is IRS policy to tax forgiven debt you are personally responsible for as if it is income. Say, for example, your credit … (1 comments)

cardiff property: Federal Housing Administration To Accept DocuSign Real Estate Contracts - 04/11/10 01:43 AM
As of April 8, 2010, e-signed third-party documents, including real estate contracts, are now being accepted by the Federal Housing Administration (FHA) with the issuance of the April 8, 2010 mortgagee letter.
 
This mortgagee letter is the first in what is expected to be a series of responses to this initiative. With this policy statement from the nation's largest mortgage insurer, real estate professionals can use DocuSign to get real estate contracts, addenda and other documents signed electronically, and their buyers can apply for FHA insurance with confidence. The FHA mortgagee letter can be found on HUD.GOV website.
 
Whether … (4 comments)

cardiff property: Fannie Mae Survey Finds Americans Prefer Homeownership - 04/09/10 01:17 AM
 
 

 
 
A new national survey gauging attitudes toward housing finds that two-thirds of Americans (65 percent) still prefer owning a home, despite the challenging economic environment and the housing downturn. The Fannie Mae National Housing Survey, conducted between December 2009 and January 2010, polled homeowners and renters to assess their confidence in homeownership as an investment, the current state of their household finances, views on the U.S. housing finance system, and overall confidence in the economy. 
 
The survey revealed that homeowners and renters alike are taking a more cautious approach to homeownership. Nearly a quarter of … (0 comments)

 
Rob Denny, "Dream Home Specialist" (HomeSmart Realty West)

Rob Denny

"Dream Home Specialist"

Carlsbad, CA

More about me…

HomeSmart Realty West

Address: 900 S. Coast Hwy 101, Encinitas, Ca, 92024

Office: (858) 504-0449

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