tag:blogger.com,1999:blog-52329445351604065722024-03-14T09:49:09.181-07:00U-GOT-SOLD! Magnesia Falls Cove Real Estate in Rancho Mirage An Insiders Guide to Real Estate in Magnesia Falls Cove PLUS Legislation Affecting Real Estate, Local Resturants with Happy Hours, Amazing Places to Visit, & Recipe of the MonthUnknownnoreply@blogger.comBlogger21125tag:blogger.com,1999:blog-5232944535160406572.post-87138820126837700472012-11-13T14:37:00.002-08:002012-11-13T17:44:59.565-08:00Here is news that will make you smile!<h1 style="line-height: 20pt; margin-bottom: 10px !important; margin-top: 0in;">
<span style="color: #2b6db7; font-family: "Arial","sans-serif"; font-size: 13.5pt; font-weight: normal;"><strong>Consumer
Sentiment Hits Five Year High</strong> U.S. consumer sentiment rose to its highest level in more than five years in November as consumers felt more optimistic about employment prospects and the outlook for the overall economy, a survey released on Friday showed. (Data from Leslie Arnold, First Capital A Mortgage Company, Palm Desert CA)<br />
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-91177159792264134722012-11-05T16:08:00.005-08:002012-11-05T16:12:29.071-08:00Election Day Trivia<h2>
When did 18-year-olds first get the right to vote? </h2>
In 1971 during the Vietnam War. Young people had campaigned long and hard for it: “old enough to fight, old enough to vote.”<br />
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In what year were voting machines first used?</h2>
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1892. They were used for one election in New Jersey, but no one trusted them so they were put back into storage and paper ballots were used until the early 1900s</div>
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From a book by Kate Kelly, <span style="color: black;"><em><strong>ELECTION DAY</strong>: <strong>An American Holiday</strong>, <strong>An American History.</strong></em></span><br />
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Tomorrow is election day. As citizens of this great country
there is a responsibility that comes with the freedoms we enjoy. And that is to
cast a ballot on election day. </h2>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-35321123100173772732012-10-23T06:13:00.002-07:002012-10-23T06:14:44.325-07:00Interest Rates 1981-2012<img alt="interestrates[carrie.edits]10.9.12" height="1050" src="http://www.car.org/3550/100772/interestrates_carrie.edits_10.9.121.jpg" style="border: 0px solid currentColor; height: 1050px; margin: 0px; width: 522px;" title="" usemap="#Map" width="522" />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-63935604295793873762012-10-19T10:45:00.001-07:002012-10-19T10:45:11.520-07:0010 Things You Need to Know About the 3.8% Tax - Effective 2013Prepared by the National Association of Realtors <br />
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1) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), <i>you will NOT be subject to this tax. </i><br />
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2) The 3.8% tax will <i>NEVER </i>be collected as a transfer tax on real estate of any type, so you’ll <i>NEVER </i>pay this tax at the time that you <i>purchase </i>a home or other investment property. <br />
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3) You’ll <i>NEVER </i>pay this tax at settlement when you <i>sell </i>your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income. <br />
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4) If you sell your principal residence, you will still receive the <i>full </i>benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain <i>above </i>these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will <i>NOT </i>pay this tax. If your total income is <i>more </i>than these amounts, a formula will protect some portion of your investment. <br />
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5) The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents <i>after </i>expenses). <br />
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6) The tax goes into effect in 2013. If you have investment income in 2013, you won’t <i>pay </i>the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be <i><span style="font-family: Garamond;">paid </span></i><span style="font-family: Garamond;"></span>in the following calendar year when the tax returns are filed. <br />
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7) In any particular year, if you have NO income from capital gains, rents, interest or dividends, you’ll <i>NEVER </i>pay this tax, even if you have millions of dollars of other types of income. <br />
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8) The formula that determines the amount of 3.8% tax due will <i>ALWAYS </i>protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would <i>NEVER </i>be imposed on more than $1000. <br />
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9) It’s true that investment income from rents on an investment property <i>could </i>be subject to the 3.8% tax. BUT: The only rental income that would be included in your gross income and therefore possibly subject to the tax is <i>net </i>rental income: gross rents <i>minus </i>expenses like depreciation, interest, property tax, maintenance and utilities. <br />
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10) The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-51680000600815164182012-09-20T15:10:00.000-07:002012-09-20T15:28:39.367-07:00<div style="text-align: center;">
<span style="font-family: Arial; font-weight: bold; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;">SUNNYLANDS<o:p></o:p></span></div>
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<span style="font-family: Arial; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;"><span style="font-size: x-small;">37977 Bob Hope Drive, Rancho Mirage, CA 92270<br />
(760)328-2829<span style="mso-spacerun: yes;"> </span>or </span><a href="mailto:contact@sunnylands.org"><span style="font-size: x-small;">contact@sunnylands.org</span></a></span><span style="font-family: Arial; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;"><span style="font-size: x-small;"> </span></span></div>
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<span style="font-family: Arial; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;"><span style="font-size: x-small;"><div class="MsoNormal" style="margin-bottom: 0pt; mso-pagination: none; text-align: center;">
<span style="font-family: Arial; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;">Photo by Sybille Algaier</span></div>
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<span style="font-family: Arial; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;">© The Annenberg Foundation Trust at Sunnylands</span></div>
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<span style="font-family: Arial; language: EN; line-height: 120%; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial; mso-oriya-font-family: Sendnya;"><span style="font-size: x-small;"><span style="mso-tab-count: 1;"> </span>Can you name an historic estate where 7 presidents and a queen have visited right in our own backyard? Yes, it is Sunnylands. In the early 1960s, Walter and Leonore Annenberg hired Los Angeles-based architect A. Quincy Jones to create a mid-century modern residence. Opened to the public March 2012, you can now visit Sunnylands gardens and home. Do go. But before you do, give them a call to check the schedule. Sunnylands Center & Gardens is open free to the public Thursdays through Sundays from 9-4 September 1 to May 31 and from 7-2 June 1 to July 31; closed in August. Ever wonder why the fence surrounding Sunnylands is pink? Take a tour and find out. Tours ($35) of the historic estate and residence are scheduled when there are no retreats. <o:p></o:p></span></span></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-23246022074960588382012-09-10T15:35:00.003-07:002012-09-10T15:38:08.536-07:00Housing Market Update<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="border-collapse: collapse; width: 600px;">
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<span class="MsoHyperlink"><b><span style="color: #ed5c28; font-family: Arial; font-size: xx-small;"><span style="font-family: Arial; font-size: 9pt; font-weight: bold;">From Leslie Arnold, First Capital a
Mortgage Company</span></span></b></span><b><span style="color: #323232; font-family: Arial; font-size: xx-small;"><span style="color: #323232; font-family: Arial; font-size: 9pt; font-weight: bold;">
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<b><span style="color: #323232; font-family: Arial; font-size: xx-small;"><span style="color: #323232; font-family: Arial; font-size: 9pt; font-weight: bold;">09/10/2012<o:p></o:p></span></span></b></div>
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<b><span style="color: #2b6db7; font-family: Arial; font-size: medium;"><span style="font-family: Arial; font-size: 13.5pt;">Lower Inventories
Equals Higher Prices: <o:p></o:p></span></span></b></h1>
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<b><span style="color: #444444; font-family: Arial; font-size: xx-small;"><span style="color: #444444; font-family: Arial; font-size: 9pt; font-weight: bold;">Today's
rising prices have less to do with surging demand—though hard-hit markets in
Arizona, California, and Florida have seen significant investor appetite for
distressed homes—than with declines in the number of properties for
sale.<br /><br />Inventories of "existing" homes—that is, ones that haven't just
been built—are at eight-year lows. New-home inventories are lower than at any
time since the <st1:country -region="-region" w:st="on"><st1:place w:st="on">U.S.</st1:place></st1:country> census began tracking them in
1963. In some cities, there are one-third fewer homes listed for sale than a
year ago. <br /><br />Here's why prices are rising: There are more buyers chasing
fewer homes, and—critically—fewer distressed homes, such as foreclosures. Low
inventory is one sign that housing markets may have reached a turning point
because many want to buy at the bottom but few want to sell. There are several
factors behind the low inventory. Banks have slowed their pace of foreclosures.
Investors have snapped up discounted properties that they can convert into
rentals. Home builders, struggling for several years to compete on price with
foreclosed properties, have added little in the way of new
supply.<br /><br />Housing's progress is good news for the economy. Residential
investment has now contributed to <st1:country -region="-region" w:st="on"><st1:place w:st="on">U.S.</st1:place></st1:country> economic output for the past
five quarters, which hasn't happened since 2005. In other words, housing is no
longer a drag, though it is packing far less of a punch than it normally does at
this point in the economic cycle. Rising prices also could help turn around
consumers' fragile psychology, an unpredictable but important factor that can
fuel more sales.<o:p></o:p></span></span></b></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-64077003868846958042012-09-07T14:49:00.000-07:002012-09-07T14:49:42.987-07:00Rancho Mirage Real Estate:Sales & Prices 2007-2012<div class="separator" style="clear: both; text-align: center;">
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<span style="font-family: Arial; font-size: 12pt; font-weight: bold; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial;"> GOOD NEWS! While average sale prices of homes are not as high as they were in 2007, they are better than in 2009 and are slowly moving up. Hurray! </span><span style="language: EN;"><o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu1RVCW05PxkxN_oUfTEHSs5fBozWzdB8NlThRGbBGCwfMd-ZK1KSJ9iSGBsOApRZ48egbNEKRD5xPSLvpJdvk9zG4tE2jhap5518J3PCcn9EpXWuLKN-Z7gF6mNN_JgpncpqNuTpZM-w/s1600/smileyface.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="149" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu1RVCW05PxkxN_oUfTEHSs5fBozWzdB8NlThRGbBGCwfMd-ZK1KSJ9iSGBsOApRZ48egbNEKRD5xPSLvpJdvk9zG4tE2jhap5518J3PCcn9EpXWuLKN-Z7gF6mNN_JgpncpqNuTpZM-w/s200/smileyface.jpg" width="200" /></a></div>
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<span style="font-family: Arial; font-size: 7pt; language: EN; mso-ansi-language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial;"><span style="font-family: Georgia, "Times New Roman", serif;"> Graph is based on data from the Desert Area MLS, August 21, 2012.</span></span><span style="font-family: Arial; font-size: 7pt; language: EN; mso-arabic-font-family: Arial; mso-armenian-font-family: Arial; mso-ascii-font-family: Arial; mso-currency-font-family: Arial; mso-cyrillic-font-family: Arial; mso-default-font-family: Arial; mso-greek-font-family: Arial; mso-hebrew-font-family: Arial; mso-latin-font-family: Arial; mso-latinext-font-family: Arial;"><o:p></o:p></span></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-31545590932888721002012-08-01T20:16:00.001-07:002012-08-01T20:19:37.175-07:00Sales Data for June 2012<u><span style="font-size: small;">Coldwell Banker Palm Desert</span></u><span style="font-size: small;"></span><br />
<span style="font-size: small;">No. Transactions: 81<br />
New Listings: $20,182,643<br />
Listings + Sales: $35,880,309<br />
<u></u><br />
<u>Windermere Palm Desert</u></span><br />
<span style="font-size: small;">No. Transactions: 58<br />
New Listings: $11,059,000<br />
Lisitings + Sales: $19,948,500<br />
<u></u><br />
<u>HK Lane Palm Desert</u></span><br />
<span style="font-size: small;">No. Transactions: 24<br />
New Listings: $1,865,600<br />
Sales + New Listings: $11,540,700</span><br />
<br />
<span style="font-size: xx-small;"> This representation is based in whole or in part on data supplied by various Boards of Realtors or their MLS. Neither the Associations or their Multiple Listing Service's guarantees or is in any way responsible for it's accuracy. Data maintained by the Associations or their MLS may not reflect all Real Estate activity in the market. (Prepared by Rick Schreiber (949-637-7560) at the request of Coldwell Banker Real Estate.)</span><br />
<span style="font-size: xx-small;"></span>Unknownnoreply@blogger.com042550-42598 Rancho Mirage Ln, Rancho Mirage, CA 92270, USA33.739744 -116.4127933.6341035 -116.5707185 33.8453845 -116.2548615tag:blogger.com,1999:blog-5232944535160406572.post-67668625372436967022012-07-31T11:33:00.002-07:002012-07-31T11:34:28.656-07:00<u><span style="font-size: small;">Coldwell Banker Palm Desert</span></u><span style="font-size: small;"></span><br />
<span style="font-size: small;">Number of Transactions: 81<br />
New Listings: $20,182,643<br />
New Listings + Sales: $35,880,309<br />
<br />
<span style="font-size: small;"><u>Windermere Palm Desert</u></span><span style="font-size: small;"></span><br />
<span style="font-size: small;">Number of Transactions: 58<br />
New Listings: $11,059,000<br />
New Listings + Sales: $19, 948,500<br />
<br />
<u>HK Lane Palm Desert</u><br />
Number of Transactions: 24<br />
New Listings: $1,865,600<br />
New Listings + Sales: $11,540,700</span> </span><br />
<br />
<span style="font-size: xx-small;">This representation is based in whole or in part on data supplied by various Boards of Realtors or their MLS. Neither the Associations or their Multiple Listing Service's guarantees or is in any way responsible for it's accuracy. Data maintained by the Associations or their MLS may not reflect all Real Estate activity in the market. (Prepared by Rick Schreiber (949-637-7560) at the request of Coldwell Banker Real Estate.)</span><br />
<span style="font-size: xx-small;"></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-68711357145281991552012-07-24T12:31:00.001-07:002012-07-24T12:36:57.708-07:00Rancho MIrage Home Sales 2008-2012<br />
Below is a graph showing homes sales and average price from 2008 to 2012 in Rancho Mirage, CA. The graph shows that while the average price of homes is dropping, the prices are not dropping as fast as they were. In addition, the number of homes sold has increased. This information can be helpful to you if you are thinking about selling and are considering what price you should list your home.<br />
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEheIn2S6XW3GGIfNRO1qCJNSr54JBiCq_iZYt4EJ09UAw5CObPbWXGlLGRDrARDgcCHa3BU6npCJChkR1wKMCGwNu9MS6sqADQGcdMq2-Aoe8sdjWB57qpDtOK-u4MzRA-rUWcfL7EB07M/s1600/January+June+SoldJuly+23.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="389" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEheIn2S6XW3GGIfNRO1qCJNSr54JBiCq_iZYt4EJ09UAw5CObPbWXGlLGRDrARDgcCHa3BU6npCJChkR1wKMCGwNu9MS6sqADQGcdMq2-Aoe8sdjWB57qpDtOK-u4MzRA-rUWcfL7EB07M/s640/January+June+SoldJuly+23.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span lang="EN">Data Source: Desert Area MLS, July 24, 2012, DRE License #00296699<br />
</span></td></tr>
</tbody></table>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-80856238688366893952012-07-16T21:06:00.002-07:002012-07-16T21:07:04.018-07:00Short Sale Tax Relief Expires December 31, 2012<br />
The tax relief law that allows homeowners to exclude from income certain debts that have been forgiven by their lender is set to expire December 31, 2012. Why is this important now? Because it can take up to 6 months to receive formal short sale approval and close a short sale escrow.<br />
<br />
According to a recent article in the Los Angeles Times, when this provision expires Sellers who participate in short sales WILL have to report the debt relief they receive from the short sale lender as income on their federal tax returns. .As of today, the tax break is not extended, so time is of the essence …<br />
<br />
The following are the main items that escrow looks at/needs when processing a short sale:<br />
<br />
1. Short Sale Addendum to the Purchase Contract<br />
<br />
2. Real Estate Commissions<br />
<br />
a. Escrow will use the Short Sale Approval letter to determine permissible broker commissions (regardless of what the listing<br />
<br />
agreement states)<br />
<br />
b. MLS should provide clear provisions for short sale lender commission changes<br />
<br />
3. Written Short Sale Approval Letter<br />
<br />
a. Escrow will verify that the Sales Price and Proceeds amounts match what is stated on the Short Sale Approval letter<br />
<br />
b. In the case of proceeds to the Lender, escrow will conrm that they receive , at a minimum, the amount stated on the<br />
<br />
Short Sale Approval letter<br />
<br />
c. Escrow must close within the stated time frame or an extension and an updated Short Sale Approval letter will be required<br />
<br />
In order to prevent closing delays, Sellers should be made aware of the fees that Short Sale Lenders may not approve and/or require additional information (see a limited, non-inclusive list below).<br />
<br />
Short Sale Negotiator Fees<br />
<br />
• Home Warranty<br />
<br />
• Retrofit work*<br />
<br />
• Termite Work *<br />
<br />
• Delinquent Property Taxes**<br />
<br />
• HOA fees***<br />
<br />
* Short Sale lender typically approves inspection fee but not the actual retrofit or termite work<br />
<br />
** Re-submission to the short sale lender for a revised short sale approval letter may be needed (and may cause closing delays)<br />
<br />
*** Short Sale lender may approve payment of HOA dues but not always approve delinquencies or certain other HOA fees such as Transfer fee or Document Fee<br />
<br />
Typically when the Short Sale Lender does not approve the Seller’s payment of certain escrow/closing fees, the costs may be paid for by the buyer provided its permitted in the Short Sale Approval letter.<br />
<br />
Sources:<br />
<br />
1. <span style="color: black;">http://articles.latimes.com/2012/jan/29/business/la--lew-20120129</span><br />
<span style="color: black;">
</span><br />
<span style="color: black;"><u>2. </u></span><a href="http://www.irs.gov/individuals/article/0,,id=179414,00.html"><span style="color: black;">http://www.irs.gov/individuals/article/0,,id=179414,00.html</span></a><br />
<br />
Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has<br />
<br />
been gathered from sources believed to be reliable, please note that individual situations can vary, therefore, please consult a professional for specific advice.Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-5232944535160406572.post-36656821334637103562012-07-11T19:14:00.002-07:002012-07-11T19:17:31.379-07:00California Homeowner Bill of Rights Becomes LawAll eyes
in the nation now turn to California as Governor Jerry Brown signed into law
today, Wednesday, July 11, 2012, the Homeowner Bill of Rights to help struggling Californians keep their
homes. This law aims to avoid foreclosure where possible to help stabilize
California's housing market and prevent the other negative effects of
foreclosures on families, communities, and the economy. The new law will
generally prohibit lenders from engaging in dual tracking, require a single
point of contact for borrowers seeking foreclosure prevention alternatives,
provide borrowers with certain safeguards during the foreclosure process, and
provide borrowers with the right to sue lenders for material violations of this
law. <br />
<br />
This law will generally come into effect on January 1, 2013. It only pertains to
first trust deeds secured by owner-occupied properties with one-to-four
residential units, unless otherwise indicated below. "Owner-occupied" means the
property is the principal residence of the borrower and secured by a loan made
for personal, family, or household purposes.<br />
<br />
The full text
of this law, also known as Assembly Bill 278 and Senate Bill 900, is available
at <a href="http://www2.realtoractioncenter.com/site/R?i=woDGwcWW0NyGDBJK6bcq1g" title="http://www2.realtoractioncenter.com/site/R?i=woDGwcWW0NyGDBJK6bcq1g">www.leginfo.ca.gov</a>.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-55625120842429260422012-07-09T15:46:00.002-07:002012-07-09T15:48:47.967-07:00Housing Market UpdateFrom First Captial A Mortgage Company, an affliate of Coldwell Banker<br />
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<td bgcolor="#f4f4f4" style="background: rgb(244, 244, 244); padding: 11.25pt 15pt 7.5pt;" valign="top"><h1 style="line-height: 20pt; margin-bottom: 10px !important; margin-top: 0in;">
<b><span style="color: #2b6db7; font-family: Arial; font-size: medium;"><span style="color: #2b6db7; font-family: Arial; font-size: 13.5pt; font-weight: normal;">Retail
Real Estate Recovery Taking Hold: <o:p></o:p></span></span></b></h1>
<div style="line-height: 15pt;">
<span style="color: #444444; font-family: Arial; font-size: xx-small;"><span style="color: #444444; font-family: Arial; font-size: 9pt;">Now that residential
real estate has bottomed and started to make some gains, commercial real estate
is starting to pick up to. This is very important to your local housing market
as a vibrant retail business always supports local housing
demand.<br /><br />Vacancy rates and rents at <st1:country-region w:st="on"><st1:place w:st="on">U.S.</st1:place></st1:country-region>
neighborhood shopping centers improved for the second quarter in a row, further
evidence the sector is moving toward recovery after years of weakness, real
estate research firm Reis said on Friday.<br /><br />The retail real estate sector
has been among the hardest hit in commercial property. At the mercy of consumer
spending, the sector has reflected the diverse pressures and changes since the
housing crisis began in 2007.<o:p></o:p></span></span></div>
<div style="line-height: 15pt;">
<span style="color: #444444; font-family: Arial; font-size: xx-small;"><span style="color: #444444; font-family: Arial; font-size: 9pt;">The first quarter
marked the first time in nearly seven years that average vacancy rates at strip
malls fell, and that trend continued in the second quarter, Reis said, with the
rate declining to 10.8 percent. While demand for space is weak, the firm said,
new construction is even weaker.<o:p></o:p></span></span></div>
<div style="line-height: 15pt;">
<span style="color: #444444; font-family: Arial; font-size: xx-small;"><span style="color: #444444; font-family: Arial; font-size: 9pt;">At the same time,
asking rents rose 0.2 percent, up from a gain of 0.1 percent in the first three
months of the year.<o:p></o:p></span></span></div>
</td></tr>
<tr>
<td bgcolor="#f4f4f4" style="background: rgb(244, 244, 244); padding: 9pt 15pt 0in;" valign="top"><h1 style="line-height: 20pt; margin-bottom: 10px !important; margin-top: 0in;">
<b><span style="color: #2b6db7; font-family: Arial; font-size: medium;"><span style="color: #2b6db7; font-family: Arial; font-size: 13.5pt; font-weight: normal;">What
Happened to Rates Last Week?<o:p></o:p></span></span></b></h1>
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<span style="color: #444444; font-family: Arial; font-size: xx-small;"><span style="color: #444444; font-family: Arial; font-size: 9pt;"><img border="0" height="192" id="_x0000_i1027" src="http://www.isysholdings.com/mbsratewatch/nl/070812.jpg" width="599" /><o:p></o:p></span></span></div>
</td></tr>
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</table>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-5232944535160406572.post-57057787820214780462012-07-03T19:03:00.002-07:002012-07-05T17:20:15.647-07:00Happy 236th Birthday America<br />
<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFGo9lbqyhEnQh9NcBIZg8EqHH0Pk6NAc5jy7pC0DXwxRFtmTlgnC1yQPAqnoFACkNIfF8H163WTOCTIZo_vGaCRWTVdEUgu8DT6O_aaEkmECAShewnu1Jl1b_kajfBBQvhtV-RIU1Vlg/s1600/Tall+Ships+July+19760004.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="219" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFGo9lbqyhEnQh9NcBIZg8EqHH0Pk6NAc5jy7pC0DXwxRFtmTlgnC1yQPAqnoFACkNIfF8H163WTOCTIZo_vGaCRWTVdEUgu8DT6O_aaEkmECAShewnu1Jl1b_kajfBBQvhtV-RIU1Vlg/s320/Tall+Ships+July+19760004.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><strong><span style="color: red;">Tall Ships Parade, New York City, July 4, 1976</span></strong></td></tr>
</tbody></table>
On July 4, 1976, sixteen tall ships from around the world converged on New York City harbor to participate in America’s 200<sup>th</sup> birthday celebration. We sat in the grandstands and watched the parade of these grand old boats. The national anthem of each country was played as the ship passed the grandstand. It was a very patriotic moment for us. In the evening, red, white and blue fireworks were displayed over our statue of liberty.<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyo5flRpTkHol-xaxG-jCl8EaNrB0GHrsdXCvpTvfTrR2Tx6XCvFZ2IbmeTc-It3GbFFDecz5wCsDV1fcPlFdAyLi1utLsfi4Kzen0fNth6lxzmG4CTgFmhEb-OdUPkP2rxrte5yDlTVQ/s1600/Flag+Flipped+DSC_6192.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyo5flRpTkHol-xaxG-jCl8EaNrB0GHrsdXCvpTvfTrR2Tx6XCvFZ2IbmeTc-It3GbFFDecz5wCsDV1fcPlFdAyLi1utLsfi4Kzen0fNth6lxzmG4CTgFmhEb-OdUPkP2rxrte5yDlTVQ/s320/Flag+Flipped+DSC_6192.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="color: red;"><strong>Flag flying over USS Arizona, Pearl Harbor, Hawaii</strong></span></td></tr>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCFUcxs0pDZ0wcZdrXsIxHBYs7cYhGNOrJ-keIfy9JSoFDusbZMA5ZzdhTrc7c9P2tnP1ttviXtCpXNJbLtCrLfBKCbK2X56HB9FvOjRg812EReEtRUbmZsNAf8ZPsennw5bI25W2w_Qg/s1600/photo.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCFUcxs0pDZ0wcZdrXsIxHBYs7cYhGNOrJ-keIfy9JSoFDusbZMA5ZzdhTrc7c9P2tnP1ttviXtCpXNJbLtCrLfBKCbK2X56HB9FvOjRg812EReEtRUbmZsNAf8ZPsennw5bI25W2w_Qg/s320/photo.JPG" width="240" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="color: red;"><strong>Washington, D.C. July 4, 2012</strong></span></td></tr>
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<span style="background-color: white; color: red;"><b> </b></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-46987262949214010702012-07-03T08:49:00.000-07:002012-07-04T16:05:50.776-07:00July 2, 2012 - Guide to Helping Sellers Sell Their HomeGive Arlene and Alan Howard of Coldwell Banker Residential Properties in Palm Desert a call so we can help you avoid these mistakes while we sell your home. Looking forward to your call. 760-641-9813<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0pFC3HgSQUUJSfq6I3AZxigf4NAiY_kXZViBYSsaF5LpzitXourQDYAuGWjCqohoVODt4QbFPG3RsjKxU-zKtPkRzKkMOK-44s4cx297fU6kZIHssBeNXh66wtAKixmtYrrBZ1K_kVcc/s1600/TopTenlegalmistakesofsellersJuly22012.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0pFC3HgSQUUJSfq6I3AZxigf4NAiY_kXZViBYSsaF5LpzitXourQDYAuGWjCqohoVODt4QbFPG3RsjKxU-zKtPkRzKkMOK-44s4cx297fU6kZIHssBeNXh66wtAKixmtYrrBZ1K_kVcc/s640/TopTenlegalmistakesofsellersJuly22012.jpg" width="416" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><h4>
From California Associaton of Realtors, July 2, 2012</h4>
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</tbody></table>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-19146549983546753972012-07-02T15:18:00.000-07:002012-07-02T15:19:27.004-07:00Looking for a Home to Rent?<h4 class="title">
Rental properties have been added to <a class="ext" href="http://coldwellbanker.com/" target="_blank">coldwellbanker.com</a><span class="ext"></span>.
With similar search functionality as the traditional coldwellbanker.com
search, such as price and keywords, users will be able to locate
specific properties to rent. </h4>
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</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-21502783012914552682012-06-18T18:56:00.003-07:002012-06-18T18:56:18.729-07:00A Foreclosure vs. Short Sale As of today, June 18, 2012, the Desert MLS lists <u>11 Foreclosures </u>and <u>21 Short Sales </u>in Rancho Mirage. How does a foreclosure differ from a short sale? <br />
A foreclosure is "a situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, so the lender, be it a bank or building society, can seize and sell the property as stipulated in the terms of the mortgage contract. (Reference: <a href="http://www.investopedia.com/">www.investopedia.com</a>)<br />
A short sale is when a lender agrees to accept a mortgage payoff amount less than what is owed in order to facilitate a sale of the property by a financially distressed owner. The lender forgives the remaining balance of the loan.(Reference: Bankrate.com)<br />
You may want to consult a real estate attorney to understand the impact of a foreclosure or short sale on your credit rating.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-20829779202425411732012-06-18T14:03:00.002-07:002012-06-18T14:13:56.075-07:00Howard's Photo June 2012<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkyFFGHKdrhVEm_Dkdvf0aOcTplxu4gZb4zi3QSrO8I3fKRk_M7_g5nkch-GtwAkKZ5AXkfkhrJ0ccT3tWW7b5lG1iyqjN3oQYcWBe7an4RZ1UzlaNYk35szrjgn187O_6xrKPA8SzmkA/s1600/DSC_0406.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="132" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgkyFFGHKdrhVEm_Dkdvf0aOcTplxu4gZb4zi3QSrO8I3fKRk_M7_g5nkch-GtwAkKZ5AXkfkhrJ0ccT3tWW7b5lG1iyqjN3oQYcWBe7an4RZ1UzlaNYk35szrjgn187O_6xrKPA8SzmkA/s200/DSC_0406.JPG" width="200" /></a></div>
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Palm Springs Aerial Tramway</div>
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View From the Tram, <span style="font-family: Georgia; font-size: xx-small;">(760) 325-1449</span></div>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-5232944535160406572.post-58853546645460530352012-05-24T17:40:00.001-07:002012-06-18T14:25:13.444-07:00Howard's Photo for May 2012<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTmAQrXNBr6Q3uWlyvwJoJ5RDjCOVsdumuNlUHiu1f2o6waudTmeCRRUu_0i4IQChn5qXdtBOxTtbbCdVHLAtG1ZNaHkYiQXqt18anoliob1ZDoezOJZAKAaZf7W0PNpv5AUZWBQJhnv8/s1600/Coachella+Valley+Preserve.JPG" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTmAQrXNBr6Q3uWlyvwJoJ5RDjCOVsdumuNlUHiu1f2o6waudTmeCRRUu_0i4IQChn5qXdtBOxTtbbCdVHLAtG1ZNaHkYiQXqt18anoliob1ZDoezOJZAKAaZf7W0PNpv5AUZWBQJhnv8/s200/Coachella+Valley+Preserve.JPG" width="150" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: Georgia; font-size: x-small;"><span style="font-family: Georgia; font-size: x-small;"> California Fan Palm (<em>Washingtonia filifera</em>), Coachella Valley Preserve, 29200 Thousand Palms Cyn. Rd., Thousand Palms (760) 343-2733. For additional photos, click on the tab in this blog labelled Coachella Valley Photos.</span></span><br />
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</tbody></table>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5232944535160406572.post-90711547506071958892012-05-21T20:01:00.003-07:002012-06-18T19:02:32.821-07:00<strong>23 Federal Laws That Affect Real Estate</strong><br />
Here is an intersting article from <em>Realtor Magazine </em>that discusses 23 Federal Laws that affect residential real estate. We found the article on the Coldwell Banker website InsideCBnow.com in the Industry News Section. This article is of interest to anyone who owns a home or is thinking about buying or selling a home. <br />
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<span style="font-family: Arial; font-size: x-small;"><span style="font-family: Arial; font-size: 10pt;"><a href="http://realtormag.realtor.org/law-and-ethics/feature/article/2012/02/23-federal-laws-apply-real-estate-sales" title="http://realtormag.realtor.org/law-and-ethics/feature/article/2012/02/23-federal-laws-apply-real-estate-sales"><span style="color: blue;">http://realtormag.realtor.org/law-and-ethics/feature/article/2012/02/23-federal-laws-apply-real-estate-sales</span></a><o:p></o:p></span></span></div>
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<span style="font-size: x-small;">It is 100 degrees F. Today we are holding an open house the gated community of Indian Ridge in Palm Desert. This is the 15th open house we have done since February. It is very slow as it is the summer season here in the Coachella Valley; only four visitors. All the snow birds have flown home. Beautiful 2700 ft. furnished home. E mail us for more information. Arlene and Alan</span></div>Unknownnoreply@blogger.com0