Sep 03
0

USDA, Clint Eastwood and first time home buyers

By | Buyers, Financial news, Sonoma County info, Windsor | No Comments

When you see the acronym USDA you might think of meat, or farmers. USDA stands for United States Department of Agriculture. This organization is to support and improve the economy and quality of life in rural America. One way is through the USDA home loan program: a great mortgage for first time home buyers with limited income and very little down payment. It is a great alternative for the more expensive FHA loan programs: less down payment, no mortgage insurance.

When I think of rural areas, I think of the old western movies with Clint Eastwood, not necessary Sonoma County. And yet there are a lot of areas in Sonoma County eligible for the loan product. Because it is a low income program, only the ‘cheaper’ properties will qualify. Last year I was able to help a young couple buy their first home on Wall Street in Windsor. They love where they live and their monthly payment is much lower than when they would be renting.

Per October 1, 2012 this program is changing. In Sonoma County: Windsor, Healdsburg and Sonoma will no longer be eligible. The program will also become somewhat more expensive. Currently USDA loans don’t require mortgage insurance, only an upfront guarantee fee of 3.5%, this fee is added to the total loan balance and financed into the loan. Per Oct 1, the upfront fee will lower to 2% but there will be a new annual fee of 0.3% of the balance of the loan. This annual fee will be added to the monthly programs.

It’s still a great alternative for low income buyers in rural areas. It’s always best to talk to your lender about this program, for more information, please feel free to contact Seliga Financial :  707-577-8737

Mirjam

 

 

Aug 25
0

Time to Evacuate!

By | Around the house, Buyers, Disclosures, Sonoma County info | No Comments

Last week we stayed at a vacation house close to Lassen Volcanic National Park, the home was in a beautiful area surrounded by forest. At one of the last days of our vacation there was a thunderstorm at night which sparked a wild fire about 11 miles south of us. The fire spread fast and we had to evacuate the house that evening.

This is called a natural hazard and part of the disclosures when someone buys a home. Sonoma County also has high fire hazard areas. Besides having this covered by the home owners insurance, there is also a lot a home owner can do to defend his/her home against fire. The California Department of Forestry and Fire Protection has a great website with lots of information.

Landscaping is important. One of the first things to do is to create a defensible space around the house, this is the buffer you create between your home and the grass, trees, shrubs or wild land area. This space is needed to slow or stop the spread of wildfire and it protects the home from catching fire. Also realize that firefighters are reluctant to go into a situation that will put themselves in danger and pick the homes that are easiest to protect first, depending on the situation.

While creating that defensible space, it is also important to use fire resistant plants for landscaping. While there are no ‘fire-proof’ plants, plants with high moisture and have low sap or resin content take longer to ignite. Hardwood trees like maple, poplar and cherry trees are less flammable than pine and fir. Check with your local nursery about fire resistant plants that are suited for your area.

And don’t forget to check with your insurance agent yearly to make sure you have enough coverage in case your home burns down. As mentioned before, a great local agent I can highly recommend is Erin Temple with Vantreo Insurance, she makes sure you have the correct insurance, whether or not you live in a high risk area.

Mirjam

Jul 15
0

Showers… with a Dutch perspective…

By | Around the house, Dutch stuff | One Comment

Let’s start with a stereotype: when you live in the Netherlands, the perception is that everything is bigger and better in USA. So when we moved to CA about 15 years ago that was one of my preconceived ideas… yes, I confess. When we walked through the house we wanted to rent there were some surprises… The bathrooms: the vanity sink was about 3 times smaller than the ones we had in our house in Netherlands – LOL. And when I opened the shower door I found a shower head as in the first picture. Now your reaction is probably: yeah and… My first reaction was: how am I going to clean the shower???? And hubby wouldn’t even fit underneath the shower head… BTW: the shower head I was talking about was position lower than the one in the picture

Then we went to the hardware store and found a solution :

 

However, a much better solution is this: a shower head on a rail, you can put it higher for taller people, lower for shorter people or take it of to clean the shower/bath tub …

Mirjam

Jun 22
0

Time is Running Out: How the Mortgage Debt Relief Act can save you!

By | Foreclosure, Short Sale | No Comments

In 2007, the Mortgage Debt Relief Act was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash, suddenly found themselves in danger of losing their home to foreclosure.

The act has helped many distressed homeowners find solutions to avoid foreclosure and opened up options to them that were previously unavailable.

However, the Mortgage Debt Relief Act was always intended to be a temporary solution and it is now set to expire at the end of 2012. For distressed homeowners, this means that time is limited for you to take advantage of this program.

Time is running out. But there is still a chance to change your financial direction and avoid foreclosure.

Contact your local Realtor for more info.

Mirjam

Jun 03
0

Move to a Larger Home in 2012?

By | Economy, RE by the numbers, Sellers, Sonoma County info | No Comments

I have noticed that many homeowners would like to move but somehow don’t feel right now is the right time. This slideshow is a presentation showing that now is a great time to move to a larger home. It shows a comparison what it would mean financial if you would have move to a larger home in 2006 vs 2012. Since home prices have come down so much.  it might not feel moving up is a smart move. The numbers show differently. This is a test and I am looking forward to see whether you can follow the numbers without explanation. It is a Youtube movie. Don’t respond via comments but respond via email plse.

Mirjam