Bill Carmichael

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Monterey County, CA
Housing Inventory Snapshot June 27, 09
Average List Price Median List Price Average Days On Market

Single Family under $1M $454,924 $375,000 98
Single Family over $1M $2,942,115 $2,077,000 133
Condo under $600K $307,105 $325,000 81
Condo over $600K $1,034,975 $785,000 119

MORTGAGE. National Averages (June 27, 09)
30-year fixedRate - 5.48%APR
15-year fixedRate - 5.01%APR
5/1 ARMRate - 4.08%APR -

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Thanks, Bill

AUTOMATE YOUR HOME SEARCH AT www.TrackingHomes.com

June 25, 2009-The California Real Estate Commissioner, Jeff Davi, announced the issuance of a Consumer Alert by the California Department of Real Estate (DRE) warning consumers about loan modification scams and informing consumers of what they can do to protect themselves.

"With so many people struggling to stay in their homes, foreclosure rescue scams have risen dramatically," DRE Commissioner Jeff Davi said. "The Consumer Alert will educate consumers and help homeowners avoid becoming victims to loan modification scams."

With new state and federal programs, as well as new laws and regulations in place, more and more loans are being successfully modified to keep homeowners in their homes. Earlier this week, the California Department of Corporations released the results of its first quarter survey of mortgage servicers, which showed that there have been more modifications during the first three months of 2009 than there were at the same time last year. While it is welcome news that more Californians are remaining in their homes, it is also important for consumers to make sure they understand their options in regards to loan modifications. The Consumer Alert can be a valuable resource, especially since unscrupulous operators are looking to take advantage of vulnerable consumers.

Loan modification scams are worrisome and widespread. Last July, the DRE had fewer than 10 complaints involving loan modification companies; today the department has 750 pending investigations. In addition, since last October the DRE has filed over 200 Desist and Refrain Orders and Accusations involving loan modification scams and the list of offenders continues to grow. A list of the companies and persons the Department has filed an action against can be viewed at http://www.dre.ca.gov/cons_drs.asp.

Enforcement efforts are not enough; consumer education is the key to preventing any further fraud. The Consumer Alert contains important information on how consumers can protect themselves against unscrupulous providers who collect advance fees promising financially stressed borrower's relief, but instead, do little or nothing. The alert also provides information on where to report fraud and what resources may be available to victims of fraud to recover losses suffered at the hands of illegal or incompetent operators.

It is worth noting that not all firms who collect advance fees for loan modification services do so illegally. In general, only licensed real estate brokers and attorneys operating within the scope of their license may collect advance fees. Real estate brokers must have their advance fee agreement reviewed by the DRE prior to its use to ensure it is compliant with the Real Estate Law.

The Commissioner encourages all consumers to log on to DRE's website at http://www.dre.ca.gov/mlb_adv_fees.html to check out any real estate broker wanting an up-front fee in exchange for loan modification help. Be aware, even real estate brokers with compliant advance fee agreements are prohibited from collecting advance fees for loan modification services involving a property against which a Notice of Default has been recorded.

No person is required to pay a third party for a loan modification. A consumer can simply call his or her lender or use the services of a nonprofit housing counselor. Commissioner Davi encourages consumers to visit the DRE's website for information on loan modifications. "Log on, look ‘em up and check ‘em out" to ensure that a company wanting an advance fee is properly licensed and can legally collect an advance fee before they sign on the dotted line.

For more information, visit www.dre.ca.gov.

Here are some very good and simple steps to take before you decide to put your home on the market. A first impression can really make a big difference to a buyer when they are considering several properties. More so than ever, especially in this market, buyers have so many options. If price is constant you have to find a way to make your home better than the others out there.

1. Thoroughly clean house & windows

2. Paint should look fresh inside & out

3. (Less IS More) Get rid of clutter & bulky furniture

4. Make your front door welcoming w/ mats, flowers etc.

5. Make sure your rooms are spotless always

6. Make sure your closets are tidy ready to be seen

7. Eliminate bad smells with diffusers, flowers & candles

8. Steam clean carpets if needed

9. Have your agent assist you with staging your home prior to pictures

10. For security put away any valuables, medications etc

If you have any questions please call or email me....

Thanks,

Bill Carmichael 831-224-7718 newcenturybill@gmail.com

There are so many great realty groups out there. I've been involved with several of the biggest franchises in the real estate industry and can say they proved to be beneficial in several ways. The training offered for new agents was always great for newbies but for the experience I had I seemed to always be looking for more.

A big part of belonging to a franchise always included a franchise fee which I was always trying to justify. "Am I getting the direct sales because of this company to justify the added costs from my commission"?

Then switching to groups with high commission returns without franchise fees maed more sense to me but for a new agent those groups didin't offer a good training option. There are numerous f'for profit' training groups out there that are not associated with a franchise that offer a solid base for new agents. I have seen a couple of them and they each offer tools to help a new agent.

In this real estate climate as well as the new wave of technology that so many people are utilizing we need to adjust to find the right fit for our individual needs.

I have come across a new group who are now in over 15 states and growing quickly. They offer a technology package which includes website, email, virtual tours, transaction management software, enhanced listings at www.Realtor.com, training and much more all for a low fee of $30/month. I currently spend well over $400 per month for similar products.

Not only do they offer training for new agents but also a different way to make an income from referring others to the group. There are existing companies which have grown well over the last few years with a similar concept but offer a profit sharing formula where one can earn a piece of reffered agents deals if the company makes a profit that month. This is great but a little different than this new company.

This new group actually offers a residual income by payiong 5% of every deal your referred agents close so if the national average is $6500 per deal and the average agents closes 5-6 deals a year then from that one agent you would actualize a return of almost $2000 from one referred agent. The amazing thing is if those agents you referred also refer agents then you also get a referral fee of 5% on every one of those referred agents.

I think this is the new wave in real estate that is just now starting to swell.

Bill C (ConnectRealty.com #2114 $4 one-time join fee until July 4th, 2009)

YES!!!! Its out there but mostly in the private money market where there are higher rates and fees.

I have worked several times with a group in California that offers a loan at 65% of completed value with rates starting at 12.5%. The fees can add up where the total APR approaches 18% but if the numbers are good on the project and there are not other resources this can make sense.

These are mostly equity based lenders but they do like to work with borrowers who have a good track record which basically means you need decent credit and a good exit strategy.

If you need any information about this Construction Lender please call or respond to the blog.

Thanks,

Bill C

(ConnectRealty.com #2114)