Did you know that the City of Escondido has a first time homebuyer’s program where eligible homebuyers can get up to ,000 towards the purchase of a home?

Wow! That’s really great, right? Just today, we received an email in our office where a local Escondido resident asked the following question:

“How can I go about getting qualified for the Escondido first time homebuyer’s program?”

Well, this gentleman already knows the answer to the question, but I am going to share it with you here.

In order to get qualified for the Escondido first time homebuyer’s program, you need to sit down with a local mortgage officer who has experience with this program. This means that the individual that you are working with must understand the qualifications for the program as well as the process for obtaining the city loan. The good news is that the mortgage lender takes care of all of the details for the program and works it out so that the loan you obtain with the mortgage lender (called your first mortgage) and the loan from the city (your second mortgage) are all taken care of by one individual.

The best part of this program is that repayment of the loan is deferred until you sell, transfer, refinance or no longer live in the property as your primary residence.

So, if you are interested in buying your first home in Escondido and want to take advantage of this program, please feel free to contact our office. We can “hook you up” with a local mortgage lender and help you get on your way to homeownership in Escondido.

Like Escondido? Want to see what properties have just come on the market? Check out the interactive map below and hover your mouse over the little houses to learn more about individual properties. And, if you see something that piques your interest, feel free to give us a call.

OMG They’re Taking the Toilet Seat!!

MLS listings sometimes list items sellers are not leaving with the home at closing.

This is useful, and essential, particularly if the non-conveying items might be important to the buyers, or when normally they would be items left behind as standard practice (e.g., fixtures).

Better to know up front what things are not going to remain.

The issue of what conveys and what does not can often result in disagreements between the parties if not clarified, in writing, in the contract.

I expect this is true to some extent in other state contracts, but paragraph 8 of the CA Residential Purchase Agreement (RPA) addresses specifically the issue of “items included in or excluded from the purchase price.”

Whether washers, dryers, refrigerators and other appliances stay or not can often result in a dispute, but it’s not uncommon for chandeliers, hardware, wall sconces, hot tubs, and other things to be listed as non-conveying items.

I’ve seen, on rarer occasions, specific plants, for example, noted as being exclusions.

I had to laugh when reading a recent 0,000 listing this morning while searching for a view home for some Carlsbad buyers. The confidential remarks noted, among several other things, that the TOTO washlet toilet seat was, sadly, going with the sellers. Guess it’s good to be put on notice. [In case you’re really interested, the link will let you read more about this invention. What will they think of next?]

While the non-conveying toilet seat struck me as funny, the issue IS an important one – if you want to keep it, better to have it in writing so there is no question from the buyers.

Despite being in the MLS it also pays to have iexclusions in writing in the actuial contract in case there are discepancies.

Anyhow, I thought this might prove to be a humorous way to generate some discussion about the issue of items that convey or not, issues that arise about what conveys and what does not, funny or maybe not-so-funny stories, and your own thoughts.

I wonder what kind of seat the sellers will leave in Toto’s place? Uh, let’s hope they leave one!

First off, I guess everything really depends upon your definition of a backup offer. After reading the guidelines, I’d surmise that Equator and the average agent probably have a very different definition of the term backup offer. For me, a backup offer is any offer that I receive and ‘hold’ after I have a fully accepted and executed contract—just in case the buyer on that fully executed and accepted contract cancels the deal.

For Equator and Bank of America, backup offers refer to offers submitted when the first offer is declined or when you need to substitute a buyer.

Just a few weeks ago, the Bank of America Equator folks changed their policy on ‘back up offers’. Now, instead of a 14 window, you only have an 8-day window in order to submit a revised offer or an offer from a new buyer before your transaction is knocked out of the Equator system.

According to Bank of America, here’s what you need to do if you want to submit a new “backup” offer:

When a backup offer becomes necessary:

• Contact your short sale specialist immediately.
• Let the specialist know if you have a backup offer to submit.  

Within eight calendar days, resubmit the listing data, submit the short sale offer, and upload the offer documents and supporting documents.  Any backup offer will require analysis and investor approval, regardless how similar it may be to the previous offer. 

If no backup offer is available:

• The short sale will be closed in Equator by your short sale specialist.
• You should return to marketing the property.
• You may initiate a new short sale in Equator when you receive a new offer on the property. 

I’m not sure what I think about this update to the procedure. Is 8 days too short? It might not be enough time for agents to hold open houses, drive traffic to listings and find new offers.

If you have any thoughts on the matter (either for or against), please feel free to share them in the comments box below. As always, I’m just trying to make the world a better place—one short sale at a time

Let’s Talk Trash in Carlsbad – It’s Gonna Cost You More to Get Rid of It

Happy Valentine’s Day! February 14^th is the day in Carlsbad for the public hearing to discuss the proposed solid waste rate increases over the next 5 years, proposed by the City of Carlsbad.

The new rates, if approved, will be effective on July 1 of each of the next 5 years, beginning July 1, 2012.

Residents should all have received the flyer describing the proposed changes but you can review it below and download the flyer if you like.

The City’s solid waste hauler, Waste Management, will have a new contract that includes several new or enhances services so additional funding is needed.

The following are the general improvements offered by Waste Management in the new contract resulting in the proposed higher fees:

New “green” trash trucks mean less pollution

Single stream recycling – everything in one bin

Free rolling carts for trash/recycling/yard waste

Curbside bulky item/e-waste collection

New rates will vary with the size of the bins selected, and rates are proposed to change for multi-family and commercial customers.

Carlsbad residents/property owners have the right to complete and sign a written protest of the proposed rate changes for the City Clerk on or before the close of the hearing on Valentine’s Day.

For more information, call (760) 602-4646 or visit the City of Carlsbad website.

Public Hearing

City of Carlsbad, Council Chambers

1200 Carlsbad Village Drive

Carlsbad, CA  92008

Tuesday Feb. 14 beginning at 6 pm

Carlsbad CA Proposed Solid Waste Rates 2012

Let’s Talk Trash in Carlsbad – It’s Gonna Cost You More to Get Rid of It

Happy Valentine’s Day! February 14^th is the day in Carlsbad for the public hearing to discuss the proposed solid waste rate increases over the next 5 years, proposed by the City of Carlsbad.

The new rates, if approved, will be effective on July 1 of each of the next 5 years, beginning July 1, 2012.

Residents should all have received the flyer describing the proposed changes but you can review it below and download the flyer if you like.

The City’s solid waste hauler, Waste Management, will have a new contract that includes several new or enhances services so additional funding is needed.

The following are the general improvements offered by Waste Management in the new contract resulting in the proposed higher fees:

New “green” trash trucks mean less pollution

Single stream recycling – everything in one bin

Free rolling carts for trash/recycling/yard waste

Curbside bulky item/e-waste collection

New rates will vary with the size of the bins selected, and rates are proposed to change for multi-family and commercial customers.

Carlsbad residents/property owners have the right to complete and sign a written protest of the proposed rate changes for the City Clerk on or before the close of the hearing on Valentine’s Day.

For more information, call (760) 602-4646 or visit the City of Carlsbad website.

Public Hearing

City of Carlsbad, Council Chambers

1200 Carlsbad Village Drive

Carlsbad, CA  92008

Tuesday Feb. 14 beginning at 6 pm

Carlsbad CA Proposed Solid Waste Rates 2012

Lorraine and Loretta Kratz – Invitees Who Know the Value of ActiveRain

I’ve invited a number of people to join ActiveRain over the years, often as a result of them taking a class I was teaching, or at talks I have given at REBarCamps and real estate expos. Some have joined, but many have not. Too bad they haven’t realized the value. Or perhaps they went out and joined on their own. I should check.

It’s always been exciting to share the enthusiasm I have for blogging, and in particular for the AR community, and as it was for me years ago, AR remains wonderful training grounds for those just stepping into the blogging world.

As part of the 2012 BIG Jumpstart Blog Challenge, I wanted to briefly share my story about Lorraine and Loretta Kratz.

I taught a blogging class back in the summer of 2007 to an aspiring group of bloggers at a local real estate board in San Diego County. As part of my closing, I offered to send out invitations to join AR for those who were interested. Lorraine and Loretta Kratz, who are in the North County area like me, accepted my AR invitation and have continued to write regularly, amassing almost 400,000 points so far.

This sister team combines traditional real estate, Crescent Moon Realty in Vista, with the auction side of the real estate business, Land N Sea Auctions. Lorraine and Loretta have regularly contributed their expertise on the local real estate market, area happenings, communities, and much more.

Lorraine and Loretta clearly realized the value of blogging to their business over 4 years ago and no doubt continue to reap its benefits today. Stop by to say hi and comment on one of their posts.

It’s always our goal to help you stay ahead of the game. Hey… you already are ahead of the game—brave enough to stare short sales in the face and take short sale listings.

Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:

Fannie Mae Extends Mortgage Relief to the Unemployed Fannie Mae is offering additional forbearance to the unemployed; this might not be a good thing. How will slowing down the foreclosure process help us to get out of this recession? It might just be the same as pulling off the Band-Aid slowly. What say you?

Short Sale Settlement Statements  Try saying that four times fast. Just as difficult as the tongue twister is the preparation of a perfect short sale settlement statement. This article provides some great tips to help you generate a picture perfect HUD-1.

Failed HAMP Trials End in Foreclosure   Sometimes homeowners who are having trouble making ends meet wait way too long before doing something about it. Often they put their eggs in the loan mod basket and then poof… loan mod declined and it is one week before the foreclosure auction date. Kind of stinky, huh?

And…. just for grins: I’m in love with The Oatmeal. This guy is so hilarious and has so much passion. Check out his site if you want an escape from the madness of real estate.

There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard, which is why we’ve provided you with a weekly recap right here.

“Wow, Buying a New Home is a Lot of Give and Take”

There’s something pretty profound in that statement, and no doubt something many buyers have discovered.

Some have not.

One of my clients just said this the other day. Thank goodness it was part of the reality.

As real estate professionals dealing with numerous people looking for a new home, whether their first or not, we know that there are always trade offs.

“There is no such thing as a perfect home.”

How many times have we quoted that to clients, or at least thought it?!

Every buyer starts out with a list, written or in their head, of the things they want in their home. It may be realistic, but so often it’s pie in the sky. In any case, it’s their reality and one has to deal with it.

But over time reality sets in and they find that there is a discrepancy between reality (that nasty budget) and what their dreams are. A choice must be made, like it or not.

Recognizing early on that there ARE tradeoffs, that buying a new home IS a lot of give and take, can save a lot of angst and frustration.

Or it can mean never finding what you want for you price you can afford, because you are not willing to give and take.

Does this mean you should not dream about that ome you would love to have?

No. But there comes a point when reality has to become part of your search, or you are likely doomed to fail.

It’s not really any different than shopping for a car, a computer system, jewelry, or most anything else. More often than not, there IS give and take.

The question is…can YOU recognize this, or are you going to ignore that life is, so often, being able to give and take?

We’re a Diverse Group Here on ActiveRain – A Weltanschauung Commentary

The ActiveRain community is diverse in many ways, not just by job, and becoming more so.

That’s a great thing, since it’s the reality of the real world, and there’s no reason why on-line shouldn’t mirror real world.

In reading through the Weltanschauung, for the second time, thanks to the 2012 BIG Jumpstart Blog Challenge, one of the particular components that struck me was the following:

Weltanschauung

“ActiveRain welcomes the active participation of all real estate professionals, irrespective of their affiliation with industry groups or trade associations.”

When I joined AR back in 2006 there were only about 6000 members, and the preponderance of them were real estate agents. While there was never any suggestion that it was limited to RE licensees, it took time for more people to join the diverse job categories that make up our business. As I recall there might have been 1 or 2 staging professionals, and maybe an inspector or two, among the mortgage officers and a few other non-real-estate-agent people.

What is truly wonderful is the growth and expansion of the ActiveRain membership in terms of the affiliated professions that exist in the RE, and who must collaborate in order for transactions to reach closing.

More importantly, the ActiveRain focus on attracting a diverse membership, apart from the fact that it mirrors reality, means abundant resources, and vast learning experiences from transacting real estate to on-line marketing to technology to daily life, coming from a broad range of professionals in different markets.

AR is a mighty impressive brain trust!

It also means tremendous relationship building, and fabulous opportunities for referrals and business development around the country and in Canada.

Joining this diversity but not aprticipating means missing out on everything that diversity has to offer. Your choise.

Southern California, San Diego, and North San Diego County are just about the most lovely places to visit and hang your hat. In fact, did you know that San Diego has the famous tagline, “America’s Finest City”?

San Diego and San Diego County are perhaps best know for the World Famous San Diego Zoo, Balboa Park, Sea World, and the world class Hotel del Coronado. But, there are so many other wonderful places to visit and things to do in San Diego County.

In the beachfront community of Encinitas in North San Diego County, there is a famous surf spot that is best known by the locals as Swami’s. In Escondido, local residents will tell you that the most tasty chicken soup comes from a small place called Lourdes’ Mexican Food. In Carlsbad, residents will tell you that they enjoy shopping at the outlet mall (but only early in the morning before the parking lot fills up).

Check out this wonderful video of San Diego brought to you by visitsandiego. While many are sitting by fireplaces and have just completed shoveling the snow from their driveways, this video will definitely paint a picture of the wonderful things that San Diego County has to offer—either as your future home or as a vacation destination. Either way, we hope to see you soon.

Want to see all of the latest homes for sale in Encinitas? Use the interactive map below to check out what’s for sale in Encinitas. Or, you can customize your home search to any community that your heart desires. If you see anything that piques your interest, feel free to contact me.