D'Adrea Davie

I recently decided that I am tired...of being sick and tired. If change is going to come, I have to get up and be involved! Voice my opinion to those that are in position to make changes. I, for one, am in favor of the First-Time Homebuyer Tax Credit. I believe that it has done a lot of good for Homebuyers, sellers, my business and the economy.

I came across a website where we all can go and write Congress a letter regarding different topics that pertain to our well-being. I set up a profile and whenever I want to write a letter to congress, I can do it and make sure it is sent to the correct lawmaker, who were voted in their seat to listen to the people. Real Estate Agents are at the forefront of hearing the complaints because we deal with the constituents and we know their struggles and pain. In addition, to dealing with their pain...we have a story or two of our own. This site gives a forum to make those issues known by using your own voice.

Agents can also go to National Association of Realtors website and quickly fill in the blanks to write a letter to Congress regarding this Home Tax Credit. I encourage all Realtors, homebuilders, homebuyers, homesellers, loan officers, etc... to write your Congress and request to extend the First-Time Homebuyer Tax Credit.

This credit has helped over 1 million homeowners thus far...we can not stop here! My letter to Congress to extend the $8,000 First-Time Homebuyer Tax Credit reads:

Dear Congress,

The $8,000 first-time homebuyer tax credit is set to end November 30, 2009. As a Real Estate Agent, I have been able to see first hand the benefit of waht the home credit has done to gain confidence in first-time homebuyer's. I have seen a rise in attendance to Open House, a larger and quicker response to newly listed properties. Combined with lower prices and interest rates that housing market will continue to heal. I do not believe we are at the point that we can rely on the lowered prices and interest rates alone. This part of the stimulus package has definitely started to help get the country back on track.

I believe that now is the time to extend the credit at least another year. Otherwise, we could see the housing market back track and that would not be good for your constituents nor the economy. With the expiration date coming up soon can cause a halt soon before the cut off time. Due to the homeowner having to purchase, receive acceptance, secure financing and successfully close on or before November 30, 2009. Currently, the time frame to close a home after acceptance is 45-60 days, which means a homeowner would have to have found a home and receive acceptance on that offer before mid-October.

Although, we have seen a rise in sales, the market has not fully recovered. I request to extend and expand the credit for an additional period of time, in order to continue the progress that has been made to date. Urgency is upon us to take care of our families in this great country. Act now to extend and expand the First-Time Homebuyer Tax Credit.

Sincerely,

D'Adrea Davie

If you are thinking of Avoiding Foreclosure, Short Sale or Buying a home in Northern California's Central Valley (San Joaquin, Alameda, Contra Costa and Stanislaus Counties - includes Stockton, Manteca, Tracy, Lathrop., Salida, Ripon, Modesto, Lodi, Hayward, Castro Valley, Union City, Fremont, Newark, Livermore, Pleasanton, Dublin and all surrounding cities). Call us at 866-543-0461 or email us.

Real Estate Agent's wear many, many, many…many hats.

As and Short Sale or REO Agent we MUST be efficient at managing several properties at a time and making sure that those properties are being maintained property. Within the last two years, Real Estate Agents and Firms have received a bad rep for not taking care of the properties. Even Agents, who put their best foot forward to convince Asset Managers and Lenders to give more allowance to get repairs done and keep the property in good condition. Unfortunately, agents weren’t always getting the support that was needed to keep property in the recommended condition. It is imperative that agents pay special attention to the properties they are managing so they do not remain or become a Public Nuisance.

The Modesto Municipal Code defines a public nuisance as: A public nuisance consists of doing any act, or permitting or allowing any condition or thing to exist, occur, or accumulate upon any property within the City that is injurious to health, indecent or offensive to the senses, or an obstruction to the free use of property, so as to interfere with the comfortable enjoyment of life or property and endangers the health or safety of others. (Added by Ord. 3106-C.S., § 2, effective 12-3-98)

Vacant, abandoned, and unkept properties:

• Attract transients (squatter) and criminals, including drug dealers and abusers become a danger to children.
  
• Become a dumpers dream. Dumpers will use grounds for dumping furniture, tires, garbage, junk, and debris that can become overgrown with weeds and vegetation; Thus, increasing the risk of fire for the building and adjacent properties
  
• Attract vandals, encourage graffiti, and disrupt economic development (disrupting neighborhood stability and slowing appreciation of property values).
  
• Deny neighboring property owners and residents full use and enjoyment of their property.
  

Failure to maintain the property will constitute a violation of Code and a public nuisance. The maximum fine for a code violation is $2,500 (amount varies depending on violation) per violation for each for each day during which the person maintaining the property continues to allow the property to go uncared for.

Real Estate Agents/Brokers are required to:

• Comply with all laws and codes, including zoning historic preservation, housing, and building codes.
  
• Monitor, maintain, and inform the Asset Manager of any changes in the property and take proper action immediately.
  
• Place a notice on the property containing contact information (must be for both business and non-business hours, 24 hours a day, 7 days a week), so if anything occurs regarding the property, you can be contacted in a timely manner.
  
• Contact the city’s Neighborhood Preservation Unit (City of Modesto) or Preservation Services Department.
  

If you received a violation but need additional time to correct the violation contact the Code Enforcement Officer (if HOA, contact person on the violation), who issued the citation and make arrangements for the extension.

If a buyer is willing to accept the property “As-Is”, the City may be willing to clear the title (depending on the violation), if buyer signs a “Stipulation Agreement” that acknowledges the violations and agrees to the City’s conditions to bring them into compliance. There typically is a charge to get the Stipulation Agreement through the City, this can take at least 10 days to receive.

Report ALL in-process emergencies like a fire, break-in, or vandalism through 9-1-1 immediately. Contact the police department if incident was discovered after it already happened and be sure to communicate violation to the seller and/or Asset Manager.

How well you maintain your properties can utimately determine your faith in being successful in this market. So, put on your PRESERVATION & MANAGEMENT hat on and do your due diligence in maintaing your client's property.

When Barack Obama was sworn into office, I took a personal oath to be a better citizen and serve my country better. You can only image all of the thoughts I thought about (and still do) to best utilize my skills.

About a year ago, I vowed to be more proactive in recycling and help my son be more active also. So, we sorted our recylceable items accordingly. I purchased an additional garbage can and separated the plastics, from the bottles and the cans. At the end of the month, we'd take these items to the local recycle center and in exchange get the money for doing so. Every month my son would have an extra twenty to thirty dollars in his bank account.

What does all this have to do with REOs? Recently we were assigned a property that contained hazardous chemicals and waste. We had to stop ourselves and ask where can we take this hazardous waste? We had about 24 gallons of paint, a battery, and tons of used motor oil. I knew there was a place to discard this, but never paid it much attention because I never had to do it. So, I called the city of Tracy, who referred me over to the Household Hazardous Waste Facility in Stockton. This facility services all of the San Joaquin County and is located at 7850 R.A. Bridgeford St. in Stockton. When I called I was told that there was a charge for businesses at a little over $5.00 per gallon. However, the representative also stated that if you are a residence it is free to dispose of waste up to 15 gallons. When I went to the facility, I was told that I can make as many trips as I could for FREE! I don't know about you, but when I hear that word...I get excited.

Once I arrived at the facility, I saw all kinds of items there: Things like:

• Paints
• Primers
• Pool Chemicals
• Batteries
• Varnishes
• Solvents
• Thermometers
• Anti-Freeze
• Transmission Fluids
• Televisions
• Computers
• Pesticides
• Cleaners
• Strippers

So, when you are about to do a trash out or even if you about to start your spring cleaning, keep your environment in mind. Don't throw, wash down the drain or pour these hazardous chemicals in the ground. Put them to the side and take them to your local Household Hazardous Waste Facility.

Some Helpful Hints:

•Ø Contact the facility and let them know the quantity you have of each item, this will help you know what there limits are and guarantee that you will be able to dispose your items for FREE! You can make as many trips as you need, but don't take too much at one time.

•Ø The facility has a Re-Use Room. This room consists of products that may not have been used or partially used. The Stockton Facility allows San Joaquin residents to take up as many as 10 items per visit for FREE! The products can include: usuable paint, solvents, plant fertilizers, pesticides, cleaners, pool supplies, and more.

•Ø If located outside of San Joaquin County, contact your local household waste facility to find out what their guidelines are for discarding these hazardous materials.

Hazardous Household Waste Facility

7850 R.A. Bridgeford St. Stockton, CA 95206

Contact: 209-468-3066

Open: Thurs-Sat. 9:00AM to 3:00PM.

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WEBSITE: http://www.motheranddaughterrealty.com

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• Want to purchase a REO property? Want to know what properties I have to sell? CLICK
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• For a FREE MARKET EVALUATION of your home CLICK

Check out: Real Estate Terms/Definitions. And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog - for other tips for Sellers and Buyers. I work with my mother as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties. Our consultations are free. Our aggressive marketing plan includes on-line listing advertising. If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call. If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

Although, purchasing a home can be a tedious process, the right Real Estate Agent can make it a relatively smooth one. Researching information on the homeownership process will also benefit you. Throughout this blog series...I have tried to walk the homebuyer through the process from selecting your Real Estate Agent to House Hunting to understanding negotiating your offer and now closing the escrow transaction.

Escrow closing signifies legal transfer of title from the seller to the buyer. Once all the conditions of the escrow have been satisfied your Escrow Officer will inform you or your Real Estate Agent of the date escrow will close and takes care of the technical and financial details.

Closing day is also the day to pay "closing" or settlement costs (accumulation of separate charges paid to different entitles for the professional services associated with the buying and selling of Real Property). Closing costs will vary; however, when buying your home and obtaining a new loan, an estimate of your closing costs will be provided to you due to the Real Estate Settlement Procedures Act after you submit your loan application. The Real Estate Settlement Act provides you with a good faith estimate of what your closing costs will be in the real estate process.

Upon closing, the title or escrow company will disburse monies to the different parties that have fulfilled their responsibilities, according to the escrow instructions, once funds are available.

So...what are you expected to pay for at closing? In California, "who pays" varies from county to county. This question is best answered by a matter of agreement between the buyer & seller. Usually this agreement is based on the customary practice in your county.

Here is a list of possible closing costs (buyer)

• Title Insurance Premiums
• Escrow Fee
• Document Preparation Fee
• Notary Fees
• Termite Inspection (according to contract)
• Recording charges for all documents in buyers name
• Interest on new loan from date of funding to 30 days prior to first payment
• Inspection Fees
• All new loan charges
• Tax proration
• Beneficiary statement fee for assumption of existing loan
• Homeowner's Association Transfer Fee
• Home Warranty
• Any city Transfer tax/Conveyance Tax
• Fire Insurance premium for first year
• Impounds (If applicable)

*Fees may be negotiable

At closing, all parties signing the documents must bring proper identification which may be a valid driver's license, identification card or current passport. The Title Company will schedule a time to meet a notary or attorney (depending on the state you live in) to witness the signatures and verify your identity. Remember, the notary is not a legal counsel and can not give you legal advice.

The signing can take place at the title or escrow company, your home, or even your place of work. It is always better to meet at the escrow or title company to have personnel available to review and explain your title policy and your closing statement. As your Mother and Daughter Realty Team, we make it a point to always be present at the closing to assure your questions and concerns are answered promptly and acurately. Allow 35 to 60 minutes for your signing appointment.

The title or escrow company will inform you the amount due at the time of closing. The amount due needs to be made in cashier's check, issued by a California institution, made payable to the title company or escrow office.

*If you have further questions that your title, escrow officer, Real Estate Agent or Loan Officer can not answer. Or if you need legal or tax advice, contact your attorney or accountant.

The day escrow closes is the day the deed records with the county and you become the owner of your home (it could take 6-10 weeks from that date for the county to mail you the original signed/recorded deed. After the close of escrow, your Real Estate agent will contact you regarding the disbursement of the keys.

As a homeowner, you can legally own a home and not be insured. However, most lenders require for a future homeowner to have insurance coverage. The owner of real property runs the risk of financial loss due to circumstances which are beyond their control. Lenders need to protect their investment in your home in case your house burns down or is badly damaged by a storm, tornado or other disasters. Other perils that can result in property damage are hail, windstorms, smoke damage, explosion, earthquake, riot, glass breakage, and building collapse. The area that you reside in will determine the type of coverage the lender will require you to obtain.

Insurance is a method of showing risks with a group. The basic property insurance is fire insurance. The principle of insurance provides for a large number of people (policyholders) to pay premiums into a fund, which is then used to pay for loss by fire, loss by lightning and loss resulting from the removal of personal property from endangered buildings. An insurer can obtain additional coverage by adding endoresements to the basic policy. Insurance companies have compiled homeowner package policies to include additional perils. Be sure to understand exactly what disasters your insurance covers and what it does not.

Insurance covers liability. It provides protection in case a visitor is injured in your home.If there is theft or damage to your personal property like furniture, clothes, and appliances...your insurance company provides coverage for it. The insured should carry enough insurance on the property so that if a loss occurs, the reimbursement from the insurance company will fully cover the loss.

TIPS ON SAVING MONEY WITH YOUR INSURANCE COMPANY

• Increase your deductible. The higher the deductible, the less expensive the insurance premium. However, in the event of a loss, you are responsible to pay the amount you agreed to. So make sure the amount is an affordable one!
• By purchasing your homeowners insurance with the same company as your auto insurance, you may be able to receive a discount.
• If you are over the age of 55, you may be able to get a discount.
• If you are a loyal customer to your current insurance company, you may have some rewards that could pay off for you!

Do your own research. Shop around and compare different services and prices.