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Mirjam

Jul 31
0

Adverse possession… a home for $16?

By | Buyers, Sellers, Short Sale, Sonoma County info | One Comment

My dear friend Gini sent an interesting link to a video about a man claiming an abandoned home trying to acquire title through adverse possession. An interesting concept. In Netherlands, the adverse possession of property is called ‘Kraken‘ it started in the sixties in big cities as a protest against empty properties while there was a housing shortage. It still happens mainly in the cities. Right now it is still legal to move into a home that has been empty for more than a year. This however is not done with the goal of permanent possession. Usually the city gets involved, they can even decide to donate a property to a non profit organization.

Also California has laws as to adverse possession. It appears that the time for adverse possession is 5 years and there are quite a bit of stipulations before one can claim a property.  I am not an attorney and I would recommend to seek legal council before starting the process of adverse possession like paying taxes etc.  This is needed to eventually claim adverse possession. It is not the wild west anymore although sometimes it might feel like it ;)))

For now, a surer way is to buy a house. Right now owning is cheaper than renting. If you count all the money you need to pay taxes on a property to claim adverse possession while you are still not sure whether an owner might claim the property, you might as well use this money to buy a property. Interest rates are at historic lows and there are still  great mortgage products available allowing you to buy with a minimal down payment. For instance, large parts of Sonoma County qualify for  USDA loans. I am currently working with a first time home buyer buying a small home with a nice yard in Windsor. He will be using a USDA loan, his total housing 21104547.jpgexpense will be around $1,100 a month, and that is before his tax write offs. This program has income limitations, it is great for first time home buyers. Darren Seliga with Seliga financial in Santa Rosa is very familiar with this loan product, you can call him at :707-577-8737.

Mirjam de Rijk

Jul 22
0

Latest Short Sale News for California residents

By | Buyers, Sellers, Short Sale, Sonoma County info | One Comment

LATEST NEWS : A lot of home owners have 2 mortgages against their property, we call that a senior and a junior loan. These second loans may be a home equity line of credit or a regular loan. This second loan was always nasty to deal with, it survives a foreclosure and usually you still owe on it after closing. UNTIL NOW…

Earlier this week Governor Brown signed into law Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder.  Effective immediately for transactions closing escrow from this day forward, both senior and junior lienholders cannot require a borrower to owe or pay for a deficiency in a short sale.  This law also prohibits any deficiency judgment to be requested or rendered for senior or junior liens after a short sale of one-to-four residential units.  Any purported waiver of this rule shall be void and against public policy.
Although a lender cannot require a borrower to pay any additional compensation in exchange for a short sale approval, the new law does not prohibit a borrower from voluntarily offering a monetary contribution to a lender in hopes of obtaining a short sale.  A lender is also permitted under the new law to negotiate for a contribution from someone other than the borrower, such as other lenders, agents, relatives, and the like.

This means that there still is quite a bit to negotiate with lenders involved in a short sale. The good news is: when all is said and done and the deal closes, it’s DONE!

Great news I wanted to share with you, please spread the news to your friends and family. A short sale is a dignified solution for a difficult situation.

Mirjam

Jul 10
0

Short Sales… and how about Tax Liens?

By | Foreclosure, Sellers, Short Sale, Sonoma County info | No Comments

When a person/business does not pay taxes the IRS can put a lien on a house. A contractor can do the same by the way, it’s called a mechanic lien. When a homeowner wants to avoid a foreclosure and do a short sale, there is no money to pay for these put of the proceeds of the sale. The IRS understands this predicament and has a form one can request a release of a lien, this is form 14135. The form is not hard to fill out, it asks for an appraisal report and there needs to be anfvsshortsalesquare.gif offer on the property. There is also a news article on the CA Franchise Tax Board about the same subject: Partial Release of Lien for Short Sales.

So don’t let a tax lien against your property stop you from doing a short sale to avoid foreclosure. Apparently also banks are not unwilling to accommodate the release of the liens. If you need

On a general note: in unincorporated Sonoma County, the sales tax is 9%, this seems high but that’s all perspective, in Netherlands the sales tax is in general 19% and 6% for food, medication and plants/seeds. This is the sanederland-1-euro-170.gifme for all of Netherlands, there is no difference between cities/provinces AND it is part of the price displayed in the store. When we were traveling from Canada to USA years ago, I thought I was cheated on my change when I bought something…

You will smile when you read this but pretty much in all of Europe and also Canada, sales tax is part of the displayed price. Travel tip to keep in mind by the way 😉

When I have visitors coming from Europe who have never been here before, this is something I explain to them so they don’t have to feel ‘cheated’ on their change. And that the exception is gas, the price of gas includes the sales tax.

Have a most wonderful day.

Mirjam

Jul 04
0

House For Sale – Your Privacy and Safety

By | Buyers, Dutch stuff, Privacy and Safety, Sellers, Sonoma County info | No Comments

Some time ago I posted a blog about Google and your Privacy.

Selling a home means that a property becomes a showcase, strangers walk through and see how a person lives. Where I come from (northern part of 449_klein.jpgNetherlands), privacy is important. People don’t open up their homes that easy, homes used to have a room to visit with visitors (voorkamer or parlour). A front door opens into a hallway with a door towards the family room: someone at the front door cannot see inside the house. Funda.nl is a great website to check real estate in Netherlands by the way.

When selling a property, safety and privacy become more and more important. Reason for this blog posting:

Last week my dear friend Diana had a nightmare: the house she is currently renting is being sold. She was worried that some ‘weird’ Realtor would use the lockbox to come in at night. This is a valid concern. If you do not know about the  Lockbox system we use in Sonibox.jpgoma County, a reason to worry. What Diane did not know: the Supra Lockboxes that are used to give Realtors access can be programmed to have timed access. This means that Realtors showing a property only have access to the key in the Lockbox when they are within the times that are programmed in the Lockbox: usually between 9 am and 7 pm.I am not the listing agent for that property and when Diane told me about her nightmare, I realized that the Realtor hired by the owner (she rents the place) had not shared with her this valuable information. Now Diane can sleep again at night: the lockbox on her front door has a timed access, no ‘weird’ real estate agent can come in a odd hours.  Other interesting tidbit: the moment an agent shows one of my listings, within a few minutes I receive an email showing the time and the name of the agent showing the property.

Lesson learned: the next time I do share my extensive marketing plan with a person who wants to sell his/her house, I will put even more emphasis on this small but oh so important feature of the lockbox system we use here in Sonoma County.

Your safety and your privacy is important, especially when selling a property.

Mirjam

Jun 26
0

It’s the Law!!!

By | Around the house, Buyers, Disclosures, Sellers | No Comments

When moving to a new country the first thing to deal with is the difference in the laws. Traffic law is usually the first one: when you rent a car and drive of the airport parking lot. Yours truly has come to find out that usually police officers don’t respond when you tell them you were not aware of the law that you didn’t adhere to. The response: it’s the law… its-the-law.jpg

Funny story: my  husband was pardoned the first time he visited CA: when he drove from SF Airport to Cupertino and a police officer stopped him and found out he came straight from Netherlands he was warned that speed limits in CA are lower than in  Netherlands and he could not drive that fast ;))) he got of with a warning, promising he would drive slower ;))… When we finally moved to CA we both had to get used to the speed limits here…

With that said: There is a new law that affects everyone who lives in a home in California. Per July 2011 every home in California needs to be equipped with a Carbon Monoxide detector. This is next to the smoke detector every house needs to have. carbon-monoxide-detector.jpg

Reason: The Carbon Monoxide Poisoning Prevention Act of 2010 signed into law last year. Locally in Sonoma County, not having one could result in a $200,00 fine. Here is a link to the article in our local new paper the PressDemocrat this week.

There are more and more laws to comply with when you buy and sell Real Estate. They are part of the many disclosures your receive. Both sellers and buyers are always advised to read all the paperwork carefully.

The local hardware store is a great source for these new Carbon Monoxide filters. Home Depot has instructions on their website on how to choose and instal one that is right for your home.

Have a great week,

Mirjam