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Susan Manning

Life is a Cabaret, Old Chum! So Come to the Cabaret!!

Hi Everybody!!! I've been moonlighting again! I am playing one of the KitKat Girls at the KitKat Club in Cabaret!! The show is running for two weekends starting this weekend and the first weekend of August. Hey, you may even want to come see it twice!! Anyway, it is going to be an incredible show that you are NOT going to want to miss!!! The show is directed by Jillian Stone and Choreographer - the infamous Sean Kiralla. Tickets are as low as $10!!!! Here's a link with all the details,prices, times, etc....Click here: Old Town Temecula Community Theater - CABARET We do have matinee performances on Saturdays which works really good for a lot of people's schedules too. I really hope to see you there!! Cabaret Audition

Susan Manning
951-551-7790

Clothes Won't Dry? Try a Dryer Vent Cleaning Service!

http://www.geocities.com/forsterhomeinspection/dvc.html

I just received an email from Forster Home Inspection today regarding their dryer vent cleaning service and thought this was a great service I should pass on. Recently we had our dryer vent cleaned and I can't tell you the huge difference it makes when we are drying our clothes! The clothes are dry in the same time or less that it takes to wash them. This makes washing clothes go by SO much faster, saves money and energy, and may prevent a fire. Not a bad tip for anyone to consider especially if your home is older and you're not sure if this service has been provided.

Just a good tip I thought I'd share!

What do you think of Rainbow and Fallbrook?

I was asked this question today from a sign call today (God love them) and I really had to pause. The area code was an Orange County number and I wondered if it was a trick question. Then I really told her what I thought.

Rainbow and Fallbrook are adorable! They are very quaint, they have lots of culture and events and history. IF you don't mind being two and a half miles away from a main road and like gorgeous views, no overbearing Home Owners Assocation rules, and peace and quiet, then Rainbow is an excellent choice for you.

What about fires? Who is California doesn't have to worry about fires? Of course check with your mortgage professional to see if you are going to need additional fire insurance for your property.

Otherwise, I say, go for it!! Take the plunge. If living in a small cabin on the top of a mountain in a quiet, private area away from the hustle and bustle, then this is a great area super close to several metropolitan areas. Its beautiful up here. I don't think you'll want to leave!

The Temecula Valley Market Stats

Wow, we have really seen a turn around in our number of closed sales! I've been keeping track. Back in 2007 - September, October, November, December, we were eaking along at about 150 closings per month total for all of Temecula, Murrieta and Winchester. In January we saw our closings jump to 204, in February it went to 245, and in March we nearly doubled our fall monthly output to 317 closed sales. (All of this information of course was taken from the MRMLS Matrix and does not include new home sales or those not listed in the Multiple Listing Service.)

It is really exciting to see all of the activity going on in the market! If you are looking to buy or sell, please contact me at 951-551-7790. When you think of real estate, please think of me! Thank you, Susan Manning

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Update! I did want to mention that as of today 4/23/2008 we currently have 2754 listings in that area. This is down from our high of about 3500 this past winter. I just want to put the total sales number in perspective to the number of active listings in the MLS. We are still at about 10% of the total listings selling. This number is higher than the 3-5% we experienced this past winter. Cheers!

What's up with Short Sales?

There are so many aspects of short sales that as a professional I take for granted. A lot of buyers and seller's have questions about them, so I have decided to go over just a few things about short sales that you may or may not know.

A seller must typically have stopped making payments on the loan. Many times a bank will not even talk to a seller unless they have stopped making payments. This is a sticky situation for us as real estate agents. We do not have the legal or tax background of an attorney or an accountant, so we cannot make a judgement or give professional advice whether or not our client should stop making payments. Always consult your tax and/or legal consultant before making a decision if a bank is pressuring a seller about this.

The depth of the discount on the sale must be substantiated with insight into the current market value. A Broker Price Opinion (called a BPO in the industry) is used to help the lender make a decision about whether or not a short sale is a viable option. A BPO is very similar to a Comparative Market Analysis (CMA) in that it uses current active listings and sales usually within a six month period and within a certain radius of the subject property.

The short sale must first be negotiated between the buyer and seller and then it must be approved by the lender. The lender is not obligated to enter into negotiating or agreeing to a short sale. With the current market climate of properties being taken over by the banks, many lenders are finding short sales are a viable way to prevent properties from becoming an REO property ("real estate owned" by the bank).

Depending on whether or not the property is the seller's primary residence, a seller may be obligated to pay a promissary note and/or pay taxes on a 1099 for the difference of the short sale. Because of the number of speculators in the market over the last four years, many seller's in a short sale may face this situation. The Mortgage Debt Forgiveness Act that was signed into law in December 2007 does help seller's who short sale their primary residence and who have not done a cash out refinance for items other than certain provable home improvements. In other words this is for folks who were caught in the wave and for one reason or another are not financially able to keep their homes and need a way out.

Before considering a short sale it is always important to speak with your banks first. There are many debt reduction and loan modification programs available now. Always start with talking to your bank first and then a professional real estate agent. Thank you for thinking of me when you think of real estate! www.eTemeculaRealEstate.com Susan Manning, Rancon Real Estate 951-551-7790