Ric & Pamela Dizon

Live in Buena Park? “Robo-Signing” Agreement Assists Homeowners

Ric & Pamela — Thu, 16 Feb 2012 16:29:27 +0000

Mortgage lenders are in the news again, only this time it’s not Freddie Mac and Fannie Mae in the hot seat. If you purchased a home through GMAC (now Ally Financial), Bank of America, JPMorgan Chase, or Citibank, you may want to take note. Last week’s settlement of $25 billion is proposed to aid homeowners who may have been subject to “robo-signing,” in loan and foreclosure practices. “Robo-signing” refers to the practice of mortgage providers signing or stamping documents without verifying information. If you currently have a loan or experienced a foreclosure with one of these lenders, you may be eligible to receive assistance.

The new agreement, authorized in 49 states (not Oklahoma), strengthens the review process on loan modifications and foreclosures by requiring application reviews prior to beginning the foreclosure process. Excessive fees, insurance costs, and appraisal rates also received limits, and the agreement also provided avenues for principal reduction for struggling homeowners. This agreement does not apply to any FHA, Freddie Mac or Fannie Mae loans or foreclosures.

Homeowners who live in Buena Park with a mortgage on their primary home that represent a 20 percent or more reduction on property value with a loan balance of less than $417,000 are targeted for these funds, although eligibility will be determined individually. Homeowners whose Buena Park home mortgage rates are above 5.25 percent may be able to refinance to lower interest rates, and homeowners experiencing unemployment or considering short sales may receive aid, as well.

Contact your lender directly to see if you are eligible or watch for a notification letter from your lender within the next six months. Incentives were provided to lenders who completed settlements within 12 months, and funds must be dispersed within three years. Click here to see actual details of the agreement.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

Buying & Selling a “Green” Orange County Home

Ric & Pamela — Wed, 15 Feb 2012 04:13:30 +0000

While the decline in new home construction may have some feeling “blue,” those of you who embrace a “green” lifestyle will be excited to hear about the latest projections. “Green” remodeling is a growing trend in the real estate industry! In fact, McGraw-Hill Companies, revealed last week that 17% of residential home building in 2011 was due to eco-friendly homes and upgrades. Rates on the West Coast, North Midwest, and New England have experienced even stronger growth.

This number is anticipated to continue to rise to five times that rate in the next five years with over 30% of “green” Orange County home building being forecasted for 2016. Beyond 2016, builders believe over 90% of their projects will be “green.” Home buyers are seeking earth-friendly features in homes for sale, so home sellers and remodelers should take note of these statistics. Renovation work has also increased in recent years, most likely due to the shifting economy, and builders report that home remodels make up over 60% of their business, according to the recent McGraw-Hill study done in conjunction with National Association of Home Builders and Waste Management.

Orange County Homes for Sale Under $300K | Orange County Homes for Sale $300K-$500K

Orange County Homes for Sale 500K-$700K | Orange County Homes for Sale $700K-$1M

Orange County Homes for Sale $1M-$1.5M | Orange County Homes for Sale $1.5M-$2M

Orange County Homes for Sale $2M-$2.5M | Orange County Homes for Sale $2.5M-$3M

Orange County Homes for Sale Over $3M

So, home owners and those looking for a new Orange County home with eco-friendly perks, have the “green” light! Almost half of builders (46%) have begun marketing their “green” services and are becoming well-versed in determining the best needs and options for their clients. As builders become more familiar with the processes involved with earth-friendly materials, consumer cost has decreased as well, making it a great time to upgrade your home for sale. Benefits of making these eco-friendly measures can be reduced energy costs, reduced waste, better quality of life, and peace of conscience.

To get more information on the results of the Green Home Builders and Remodelers Study, click here.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

Landscaping – A Key to Selling Your Cerritos Home

Ric & Pamela — Fri, 10 Feb 2012 21:44:30 +0000

When you meet someone for the first time – what do you notice? If you’re like many of us, that initial impression is largely determined by outside appearance. Believe it or not, that concept rings true with your home, too! That’s right, your home can foreshadow clues regarding your personality and sense of style, and its landscaping tells a story as well. Is your landscape sending the message you WANT to convey? If your Cerritos home is for sale, the following tips can help to make sure you are not missing the mark!

Is your Cerritos home sending the correct message?

If not, it may be time to consider hiring a gardener or getting help from family and friends to make some needed changes as soon as possible. The right gardener can transform the most jungle-like backyard into a beautifully manicured area of peace and tranquility, in as little as a day! With all the other tasks associated with selling your home, landscaping is a great project to outsource.

Before hiring a gardener, ask friends or neighbors for referrals. Once you have a few recommendations, ask questions and raise any concerns you may have with the gardeners/landscapers you decide to interview. Some key points to discuss are how often you would like service and what you need included at each visit. Services range from simple mowing to complete care, with reseeding, watering and fertilizing options. Don’t be afraid to ask your new gardener for help with ideas and improvements that could increase your property value and alert your gardener as to the property status, since there may be times when extra special service is needed (such as before an open house). You might even request that any extra cut blooms be left for you to use inside your home. Keep in mind that a specialty garden is not the same as basic maintenance. If you have special circumstances, you may want to consider sharing written along with any verbal instructions with your chosen landscaper. Of course maintenance and seasonal costs, liability insurance and worker’s compensation coverage are all topics you will want to discuss before entering into any agreement.

Once you have begun your service, inspect the initial work and take time to notice the changes occurring in your landscaping. As you offer feedback to your gardener and become a part of the process, you will see your home evolve into a well-kept, beautifully groomed masterpiece. If you live in Cerritos your home will create the best impression possible and deliver the message you want to share with potential home buyers.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

Resources for Avoiding La Palma Home Foreclosure

Ric & Pamela — Fri, 10 Feb 2012 11:56:33 +0000

La Palma Home ownership can be a heavy responsibility at times… especially when times are tough. It can be challenging to find help when times are difficult due to a decrease or loss of income, illness, unexpected disaster or home repairs, or personal crisis such as separation or divorce. Add to that a reduction in home values, and the problem can seem insurmountable. While savings can help to alleviate some of the impact of these life events, it is still helpful to be aware of potential programs and alternatives offered to distressed homeowners, too. In fact in last month’s State of the Union address, President Obama made reference to this struggle in home ownership, saying, “And while Government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit bottom to get some relief.”

If you find yourself in a no-win situation regarding your mortgage, it can be helpful to speak with your lender and ask about modifications that can be made in the short term. You can ask about the short sale process, too, and see if that may be a viable option for you. A short sale is when your lender agrees to accept a lower price than is owed on your property as payment in full. There is a lot of paperwork that accompanies this type of sale and it is helpful to use a real estate agent that has short sale experience with this type of transaction. In fact, some real estate agents and home buyers specialize in just this type of sale and can be a great help to you!

If you want to live in La Palma and remain in your home, rather than sell, programs such as the Home Affordable Refinance Program (HARP), Home Affordable Modification Program (HAMP) , or the Home Affordable Foreclosure Alternative (HAFA) offered by Freddie Mac may all be options. Fannie Mae and your individual lender may have other programs that can assist you as well. Please click here to view a variety of tools on how to avoid foreclosure. Remember that you have options, if you are willing, able, and have the time necessary to explore them. Don’t give up!

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

A Costly Plan for Non-HARP Qualified Homeowners included in State of the Union Address

Ric & Pamela — Fri, 10 Feb 2012 02:50:01 +0000

The State of the Union Address is when the President lets the country know how we are doing, and what his plans are to make things better. One of his big announcements in this year’s 2012 address was a plan to help homeowners struggling to stay afloat, and who don’t qualify for a Home Affordable Refinance (HARP 2.0). As it stands at the moment, the only way that homeowners can qualify for HARP is if their mortgage was scrutinized by Fannie Mae or Freddie Mac prior to June 1, 2009, as well as meeting some other qualifications. Mortgages that aren’t part of the Fannie Mae or Freddie Mac programs are instantly ineligible, as are home loans that are restricted by limits in the Los Angeles / Orange County area. That amount sits at $625,500, which means that even if you conform in every other way, but are even slightly over that limit, HARP will not be available to you.

President Obama’s plan is to rectify that situation for those homeowners who do not currently qualify for HARP, but who are up to date on their mortgage payments. This will allow them to have an FHA insured mortgage, which comes with a higher loan limit ($729,750 in Los Angeles / Orange County). Should it pass, the Obama refi program will only be available to those who have FHA loan amounts.

While FHA mortgages are great, they also tend to be more expensive than conventional loans. That is usually due to a little interference by Congress who is constantly tinkering with the upfront and monthly mortgage insurance fees. Both types of insurance are required on an FHA mortgage regardless of the total loan value.

As of 9:15 this morning, an FHA rate on a loan amount of $729,750 in Los Angeles – Orange County with a 720 or higher credit score is 3.750% for a 30 year fixed rate (apr 4.720). Principal and interest with the financed UFMIP is $3,465.87 and the monthly mortgage insurance premium is an additional $693.62 for a total (PIMI) payment of $4,159.49, not included property taxes and insurance. This payment equals an interest rate in the 5.50% range if you compare it to a conventional mortgage.

The one red flag that seems to be flying over the Obama refi plan is that it will be somewhat costly. The plan is to charge additional fees to banks, which are then almost positive to pass that payment down to their customers in the form of increased fees for everything that they do there.

There is still some way to go before the Obama Refi Plan makes it through Congress, which is never a slam dunk. Should it pass though, it’s reported that homeowners will have their home (primary residence only) subjected to an appraisal, and will also have to prove their income, as well as their employment. They will also more than likely have to show that their mortgage payment have been made on time for the previous 6 months.

It’s probably going to be a fight to get the bill to pass, not only with Congress, but also with the major banks. Rather than wait to see if the Obama Refi Plan passes, you can get pro-active and see if you qualify for an FHA streamlined refi which doesn’t require any sort of appraisal.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

How to Help Buyers Fall in Love with Your Orange County Property?

Ric & Pamela — Thu, 09 Feb 2012 02:24:24 +0000

Valentine’s Day is just around the corner which means that this is a perfect time for you to sell your old Orange County property and look out for the best prices that you can get as there are many couples who look out for better homes during this time. However, not all the sellers are able to make the most of the time period they have and therefore they don’t find the buyers that can buy their properties. If you are interested in selling your home this Valentine’s Day then you have to fall in love with your home and make it look better from every possible angle so that buyers can buy it.

Here are four simple tips that you can follow to make sure that buyers simply fall in love with your property.

Windows are an important part of your home… therefore you must always make sure that your windows are clean and inviting. If you don’t have all the time in the world to get it repaired you can always camouflage it with plants and make it look better. You must always ensure that the windows are open when the buyers are visiting your property because windows let in the natural light which actually makes your property look brighter and better. On the other hand, windows will also let the gentle breeze let in the room which will make a psychological effect on the minds of buyers because they know they are buying the right property.

If your Orange County property also has an attached garden to it…you can let the windows be open so that the fragrance of flowers can make your property smell better. If you don’t have any garden attached to your property you can always play some soft number and set the temperature right.

You can even decorate the floor with some nice carpet…that you can find in the market, such as Target, Costco or Walmart at affordable price. If you have some antique in your home you can always show that to the buyers and they will be happy to see that. You can even treat your buyers with cookies and nice food items that smell really good. This way you can make sure that they think about buying your property because they are having good experience and a feeling of being at home.

Another important thing that you should remember is that you should let the buyers decide what they want to see. Do not obstruct their view or divert their tour. You should make them feel that it is their house which will help you to make your sale and get the buyer for your property. You should also keep all your home objects the way it is to arouse the feeling of being at home. Hence, you can really make the buyers feel that they are at home which will help them to connect with your Orange County property so that they can go ahead and buy and live in Orange County.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

Buy The Perfect Buena Park Home For Your Better Half This Valentines Day

Ric & Pamela — Tue, 07 Feb 2012 01:10:17 +0000

Valentines Day is the perfect time to show your better half how much you care and love them. Show it off by presenting a perfect Buena Park home this Valentines Day. Did the thought of purchasing the home scare you about the huge expenses? Don’t worry, if you live in Buena Park there are down payment assistance programs and low interest rate loans to help you. Here is a brief overview about the down payment assistance programs that best fits the needs of majority of people searching to buy a home.

What are down payment assistance programs?

These are programs which provide financial assistance to make down payment for buyers who qualify for the mortgage plan but fail to purchase a home due to lack of funds to make the down payment.

Who offers down payment assistance programs?

Generally these programs are offered by the local governments whether it could be country, state or the city. However, there are certain non-profit organizations offering the down payment assistance programs too. In certain cases, the seller may himself offer the assistance to the buyers who qualify for mortgage but cannot make the down payment so as to sell the house faster. The buyer should select a down payment assistance program that best fits his or her needs.

Requirements to qualify for down payment assistance program

The buyer has to invest a minimum amount of money in the deal. It should be at .50% to 1% of the sale price of the house. However, the amount varies with the program.
Should pay for the administration costs, if the buyer is availing the down payment assistance program being offered by non-profit organizations. The fee amount varies with the organization and the gift plan.
The sale price of the house should be within the top limit set by the program.
Anyone can qualify for the down payment assistance program if their income does not exceed limits determined by the program.

Buena Park Homes for Sale Under $300K

Buena Park Homes for Sale $300K-$500K

Buena Park Homes for Sale $500K-$700K

Buena Park Homes for Sale $700K-$1M

Buena Park Homes for Sale $1M-$1.5M

Buena Park Homes for Sale $1.5M-$2M

Using the allotted funds

After obtaining the approval for these funds, the buyers can use these funds either for the new or existing house but it should not be used for making Buena Park home improvements or to refinance the property. Though the funds are allotted for the purpose of down payment they can also be used to cover the closing costs. However, the amount left over at the end of the transaction should be returned to the program.

So, what are you waiting for? Start your search for the perfect home that your better half would definitely love a Buena Park home this Valentines Day.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

As Super Bowl Season Ends, The Real Estate Season Begins!

Ric & Pamela — Wed, 18 Jan 2012 19:49:11 +0000

The regular football season is a white knuckle ride for fans of the pigskin, and when the playoffs begin during the Christmas holiday period, the white knuckles get replaced by nails that are nervously bitten down to the core. Many wives complain of becoming football widows during the season, bemoaning the fact that they can’t get their husbands off the couch from the moment that Thanksgiving begins and the Lombardi is hoisted at the end of the Super Bowl. That’s when the gridiron action reaches fever pitch, and also when the real estate market goes into hibernation for the winter.

From Sold Out Super Bowl to For Sale Sign!

There is an old saying that nobody buys or sells a home until the Super Bowl is over, but the truth of the matter is that it may just be more due to the fact that it also unofficially represents the end of the holiday season. There is so much going on during that time, what with preparing for Thanksgiving, then buying presents for Christmas, and perhaps even hosting family and friends coming in from out of town. The last thing on anyone’s mind during that period is listing their home, or thinking about a new place to live.

It’s not usually until the Christmas tree is down, and the last of the brightly colored lights are taken of the house that the bloom finally wears off the rose, and the thought of moving kicks in. The busy buying and selling period doesn’t really start to kick in until the spring months hit, but it doesn’t hurt to get a little pro-active and start thinking about getting the ball rolling. That begins with taking the time to track down a realtor who you believe will best fit your buying and selling needs. By getting all your ducks in a row you can get a jump on those who are still wallowing in turkey gravy, because you can be sure that the real serious home buyers will be out and looking as soon as possible.

A qualified realtor will make sure that you list your home for the best price possible, and they will also get the ball rolling on searching for homes in the neighborhoods that you are interested in moving to. The housing market is starting to recover after a tough couple of years, and you’ll want to make sure that you are getting the true value for your home, and not overpaying for a place whose current owners know that the market is turning.

While the final whistle of the Super Bowl may mark the end of the football season, and act as the beginning of a new real estate year, don’t let the agony of defeat, or than hangover of a championship season cloud your judgment when it comes to making important real estate decisions. Let your real estate agent help with that, unless of course your team lost in the Super Bowl, then you may want to allow a little grieving period.

Search All Homes | New Listings | What’s Is My Home Worth?

Dating App May Help Busy Real Estate Professionals Find Clientele

Ric & Pamela — Tue, 17 Jan 2012 07:30:10 +0000

When you are into a competitive profession, especially if you are a realtor or mortgage professional, finding clientele truly sucks like dating. Soon after, you realize that the process is very much similar to a dating process. Complicated, long, deal breakers, surprises, riddled with offers and unforeseen expenses. Not to mention but finding the right individuals

Find Connections

With realtors and mortgage professionals having a timeless job, how does one find the right persons to connect with? Well, if this is the case, you may want to consider using the Skout.com dating application. Now, I know your saying, REALLY? But, check this out. Skout is a real time as well as located based application. By leveraging the GPS technology, Skout has brought forward a platform in order to allow people to meet and connect based upon proximity instead of filling a series of compatibility surveys. It simply unlocks the social potential present around you.

Location based search

Well, as location is unquestionable the integral rule of real estate and mortgage sector, real estate and mortgage professionals are assured to benefit from this application. Once you download and sign up for the service, the application will show you other skout users nearby and allow you to search the right person. You can browse through the profiles that include a photo, interests, what are they looking for, and of course, their location and find someone close and interesting. Irrespective of the event, venue or conference you are at, the application reinforces the power of finding the right person.

Whether you are looking forward to connecting with new people, broaden your horizons or clientele, the dating application is assured to be beneficial. With Skout, discovery is sure to happen as it cares about “when and where you are”. As the application is completely free of charge, you can find the right individuals to link with, without incurring any extra expenses.

Let us know your thoughts, we sure welcome your comments below.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery

The Bill That Makes You Work Harder To Pay More for Buying a Home

Ric & Pamela — Thu, 05 Jan 2012 20:10:57 +0000

Anyone who has ever purchased a Buena Park home will be quick to point out that some of the joy that comes with closing the deal on their dream home was tempered by high mortgage costs. The bad news is that those fees look as though they are about to get even higher, and for that you can thank Congress and their proposed Tax Bill H.R. 3630. Basically, if the bill passes, which now looks like a certainty, the guaranteed fees paid to Fannie Mae and Freddie Mac will be increased by 10 basis points, and that increase will find its way back into your mortgage costs as a result buying a home.

The bill that makes you work harder to pay more for buying a home

While that would prompt most potential low income home buyer’s to seek out a cheaper FHA mortgage, that path has been somewhat closed down to, thanks to a 10 basis point increase on FHA mortgage insurance. Not only is this going to make paying for a mortgage all the more expensive, chances are it will also add even more time onto the closing process, which has already seen a spike over the past few years. The sad thing is that most potential home buyers probably have no idea that the passing of this bill will impact their purchase, and that is because the bill is actually aimed at payroll tax cuts.

You see a bill names Payroll Tax Cut H.R. 3630, and it’s entirely natural to assume that it will have something to do with unemployment benefits, social security, and job creation. You actually wouldn’t be wrong in that regard, but like most government bills, the money to actually pay for that bill has to come from somewhere, and a good chunk of that will be coming out of the pockets of the people who want nothing more than to purchase a new home.

The possibility of those extra costs are going to impact the low income house buyer more than anyone else, and not just because of the increase in the FHA mortgage insurance. Buying a home on a low income is never easy, and those added costs could end up making any sort of sale prohibitive, which ends up being bad for everyone in the real estate industry, from the buyer, to real estate agents, and all the way up to the lenders. The real estate business was hit hard by the recession, and an increase in new home buying is a sign that the economy is in recovery. If that is stalled by a hike in mortgage fees, then it will go a long way towards killing the progress that has already been made.

Click Here to Discover Five Things You Can Do TODAY to Purchase an Orange County Home in 2012

Congress is due to meet on the week of January 16th to start the discussions over the payroll tax cut once more, and with both sides digging their heels in once more, it looks as though it’s going to be the average, hardworking individuals who live in Buena Park is going to suffer again. If you have been on the fence about buying a home, then it may be time to get off of it, and make it happen before the bill passes and the higher costs go into effect.

Search All Homes | New Listings | What’s Is My Home Worth?

Like This Post? Get More La Palma News In Your Inbox!

Never miss important La Palma, Cypress, Buena Park & Cerritos real estate news or changing market conditions! Subscribe via RSS or email delivery