Category

Sellers

Numbers in Sonoma County

By | Buyers, Foreclosure, Sellers, Short Sale | No Comments

With all the focus in the news about Short Sales, foreclosures, bankruptcy, it might feel that these are the only properties out there.

Just sharing with you the local sales numbers in Sonoma County as of 5 minutes ago, all the properties that sold since January 1, 2010:

Total sold properties: 3131. Of these, 1538 were either foreclosure of shortsale. Bottom line, this year so far 50% of all the sales were distressed sales. This is not saying anything about the future but just the plain numbers as of the moment I am writing this.

With the current interest rates at a historic low, the numbers mean that it is a great time to sell property and a great time to buy property.

On a side note: despite what you might think: foreclosures are not always the best deal in town.

Have a great day, enjoy this sunny afternoon!

No Penalties!

By | Buyers, Disclosures, Sellers, Sonoma County info | No Comments

PMRD Logo

Great news from the Sonoma County Permit & Resource Management department!

For a limited time, permits to legalize non-permitted construction will not be subject to civil penalties and investigative fees.

Projects eligible to participate are:

Residential buildings and accessory structures  •  Construction completed prior to July 13, 2010 • ‘Self-Disclosed” construction

Eligible permit applications must be received between August 1, 2010 and February 1, 2011.

Now is the time to safe money, permitted construction always results in higher value!

Mirjam

Government Programs to avoid foreclosure.

By | Making Home Affordable, Sellers, Short Sale, Sonoma County info | No Comments

Today, nearly one out of 6  homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it’s important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.  

To find out whether you are eligible, check out the following link:http://hosted.cdpe.com/14365/Resources.aspx

Mirjam

This Old House!

By | Disclosures, Sellers | No Comments

Today I am not going to talk about HAFA or distressed properties, no something else caught my eye in the CAR newsletter I received this week.

There is something special about owning an older home. Personally, I love older homes in older neighborhoods. For that reason, I love the MacDonald area. But older homes are built in a time when building rules and products where different and there are new laws to comply with when remodeling or perhaps selling a house.

Starting today, renovations that disturb lead-based paint in older residential dwellings and child-occupied facilities must generally comply with the Lead-Based Paint Renovation Rule of the Environmental Protection Agency (EPA).

Under the newly implemented rule, renovators of target housing built before 1978 must now be trained and EPA-certified to perform safe work practices to prevent lead contamination.  Additionally, renovators must deliver EPA’s lead renovation pamphlet to an occupant within 60 days before a project begins (and, if mailed, at least seven days before a project begins).  Renovators must also obtain the occupant’s signed acknowledgment of receipt or substitute documentation as specified.

The EPA issued this rule in 2008, but delayed implementation until now.  The rule generally applies to building contractors, handymen, residential landlords, property managers, and anyone else who is paid to perform renovations or to direct workers to perform renovations as specified.  The lead renovation rule does not apply to homeowners renovating the homes they live in.  However, sellers of target housing must, among other things, disclose to their buyers any known lead-based paint and lead-based paint hazards (C.A.R. Form FLD).

Should you decide to sell your older home and are going to repaint the house, you need to keep the above in mind.

Have a beautiful day!

Mirjam

It’s all about HAFA:

By | Making Home Affordable, Sellers, Short Sale | No Comments

HAFA, HARP, HAMP all acronyms for government programs for distressed home owners. These programs have seen some major changes and there are still a lot of details to be figured out.

Bottom line: a loan modification is doable but is still a lot of work and persistence but the HAMP program gives great guidelines on the likely hood of a decent loan modification in a specific situation. As to HAFA, the short sale alternative for foreclosure: it is not applicable for everyone, some distressed homeowners will not fall in the HAFA guidelines they will have to do a non-HAFA short sale which is not a bad alternative, just more work for your realtor.  And HARP, that is a special refinancing program that might work for some.

As to all these programs: it is good to discuss your options with your Realtor -preferably one who has a CDPE certification- and your lender -or the one your Realtor works with. Reason, a better understanding of your specific situation sets realistic expectations and you will be able to make an educated solution.

And yes, yours truly is CDPE certified and happy to help.

Don’t forget to enjoy this beautiful Sunday.

 mirjamnew.jpg  Mirjam