Karen Parsons-Fiddler Broker/Realtor

I know that this market is unusual, confusing and frustrating. The good news, many "agents" who were really just order-takers have had to leave the industry. This should leave a group of experience, committed agents left to help you. This is a positive step for our market...more experience means better service and smoother escrows. But, if you haven't found the perfect agent yet, and are wondering what they can do for you, I'm hoping to give you an understanding of what to expect from your agent.

Obviously an agent will work with you to put together a list of possible homes to go see. Great Western Realty Group specializes in using the latest technology for Internet searches. Many buyers do a lot of the "leg work" on the Internet before they begin the physical search. Once you contact us with your specific criteria, your agent will create a personalized website for you to begin using at your leisure. This site will be linked to the Southern California MLS and you will receive all new and current listings directly on this site.

You will have the capability to sort home into favorites and possibilities. You can also make notes directly on the listings, email them to your agent for further questions and map them if you would like to drive by them yourself. We like to use this tool to develop a working list of homes you might like to see in person. It allows your agent to know in advance what interests you, we can offer suggestions and do back ground research prior to meeting with you. This system allows you to go at your own pace, with no pressure, often we will work with clients for over a year while they watch the market. Especially in this market, the ability to keep an eye on prices and inventory will lead to an educated purchase.

Once we have identified interesting homes, we will go see them. At this point you might write an offer on one, or more of the homes you see. The Southern California Market has seen drastic drops in price, but there has also been a flurry of offers, no reason not to explore all homes you have interest in. Remember that listing prices are simply the sellers' wish price, not the one they might actually take. The next step would be counter offers or acceptance of our offer. For the purposes of this article, let's assume you found a home at a good price and are ready to open escrow.

Escrow is the term for the closing process in California, other states use attorneys. An escrow officer and number will be assigned to you. The escrow officer acts as an impartial third party whose job it is to make sure that the terms we have all agreed to are carried out. They work with buyer and seller agents to get the full contract and deposit. They will order a title report and title insurance to make sure the seller has the legal right to sell the property. They will also check for liens on the property and make sure they are released. They talk to the current and future lenders, order payoffs and gather information necessary for the new loan documents. They also order Home Owner Association documents to verify that the association is not being sued nor incurring unforeseen expenses which might cause your dues to increase. All monies also go through escrow.

While escrow is handling all this, your agent will work with you to do all home inspections necessary for you to find out the quality of the home you are buying. This should always include a home inspection by a licensed home inspector. You might also need a mold inspection, if there is evidence of moisture problems. If the home is on a hill and/or if you notice cracking in the walls or concrete, you might be advised to get a geological survey. Other inspections could include termite, electrical or plumbing. The home inspection time is also an opportunity to get estimates for improvements or repairs.

The other important activity during this time is finding a loan. You have probably already begun this process by pre-qualifying with a loan officer, but now is the time to get final loan approval. Once you find loan program that fits your budget, your lender will order an appraisal. The lender will want to make sure that the home is worth what you are willing to pay for it. This is especially critical in our market. The last thing we want to do is over pay.

When all these items are done, and meet your approval, we will remove the contingencies and we "coast to the close." Your Great Western Realty agent will be available for you at all times during this process. I know you've heard stories about agents that disappear as soon as you sign an offer, but the great agents will always be there to help you through any hiccups that come along. We want you to find the home buying experience an easy, stress free one. And once you close escrow and have moved into your new home, we want that stress free feeling to continue.....so every buyer who buys a home through a Great Western Realty Group Agent will have a complimentary home warranty on the home.

A home warranty will cover you for all your major systems in the house for one year....and you can renew it if you like. Electrical, Air Conditioning, Furnace, Plumbing, Pool/Spa Systems and many other major items. This is just one more way your agent makes sure you are a satisfied home owner.

Please visit the search page of our site to get started, search for active listings.....and if you like, register your criteria for your free website.

http://www.great-western-realty.com/HomeSearch.htm

We look forward to working with you!

Karen

www.great-western-realty.com

Beautiful Mission Viejo has been one of the most desirable family oriented cities since it was first built in the mid 1960s. As one of the very first master planned communities, Mission Viejo set the example for the surrounding cities with every park, school and shopping center designed well before they came into reality.

There are many reasons why families in particular love living in Mission Viejo. The first, and most important, is that it's a very safe city. In fact in 2007 it was named the safest city in the United States. Parents can feel comfortable allowing their children to play out front or walk to the park. During the summer months, you will find children running unsupervised in the parks and the lake, this has become obsolete in most cities of America.

Another big draw is the school districts and the extras they are able to offer the students. There are two school districts that service Mission Viejo, The Saddleback School District and Capistrano Valley School District. Both have excellent schools and many that have been awarded the title of California Distinguished School. Mission Viejo High School is well known for it's athletic programs, especially the football team, the Diablos. Many college and professional players received their start in Mission Viejo. Has anyone heard of Mark Sanchez?

Capistrano Valley School District also offers wonderful opportunities for students. One such opportunity is the ability to participate in their music program. All elementary schools in the district offer bands and orchestras as early as 4th grade. By the time the students are in middle school there are even more classes available. In fact, Newhart Middle School employs two full time music teacher and have 6 different music classes. There is also a Jazz Band that meets as an extra curricular class after school.

Any discussion of Mission Viejo must include extra curricular sports. Most families participate in at least one after school sports club. There are basketball leagues, Pop Warner Football and of course, AYSO soccer. In addition the world reknown Mission Viejo Nadadores Swim Team has produced Olympic Gold Medalists and any child interested in competitive swimming would find the facilities exceptional. The swim center also offers many swimming instruction classes and beginning swim teams through the Swim America clubs.

Finally, perhaps the most beautiful feature of Mission Viejo is the Lake. Lake Mission Viejo is a private lake open only to residents and their guests. There are two beach areas, one that is open all year. There are free concerts and movies in the summer, white sand beaches with lifeguards, and boats to rent. The association stocks the lake throughout the year with trout and bass and hosts fishing contests. There are also quite areas where you can fish year round.

During the summer and school holidays, the Mission Viejo Lake Association offers day programs including Junior Life Guards, sports programs and basic "hanging at the lake." They also organize special day trips to Disneyland, Knott's Berry Farm, and other Southern California places of fun. The lake also offers enrichment classes year round, such as Mommy and Me, Adult Yoga, Intro to Basketball for Elementary Students...etc. And the best part? The Mission Viejo Lake Association dues are only $222/year, not a month, a YEAR.

We hope this has given you some understanding of the quality of life you and your family can find in Mission Viejo. Please contact a Great Western Realty agent to help you begin your home search in this special family city. www.great-western-realty.com

We all know the answer to these questions is "YES." At least to some degree. Which is understandable! It also follows that many agents are seeing their leads slow down because the news is constantly telling the public how "desparate" agents are. Wow...a sales industry who's DESPARATE, that's going to get us lots of contact. :)

Well, all of the above might be true, but it leaves many potential....future...clients out in the dark. We at Great Western Realty Group are looking to the future, as well as the present. We are not just servicing the active, immediate buyer or seller. Our philosophy is that if we provide the future buyer or seller reliable information now, without pressure, they will come to us when they are ready to move. This takes an investment, and yes, some of those potential clients will use someone else. But perhaps they will remember us when they talk to friends, referrals are critical to real estate.

How are we providing this service? First our website!

Our website is full of the latest real estae information. We have a state-of-the-art search feature and many pages of information on such subjects as Down Payment Assistance, Loan Programs and low-down FHA loans, School information, Home Inspection tips. There is an easy submission form as well if you don't see the answer to your question.

Then, if you would like a powerful tool for watching the market directly from the MLS, we will set up a custom website for you linked to the MLS. You can give us your specific criteria and see new listings in real time as they hit the MLS. From this site, you can email us directly to ask questions, sort listings into favorites and possibilities, make your own notes and even reject homes that are wrong.

If you are a seller.....let's put a search on this site that best reflects your home. This can be the exact tract, or similiar homes in your city. This allows you to watch the home prices and gives you valuable information about how the market is trending. Once we do list your home, you can continue to use this tool to keep abreast of new listings that are competing with your home.

Another way to service our future clients, we have agents available who can do some previewing with you. "Window Shopping" if you will. Why not go see some homes that are in your price range. See what is available now! You might be surprised as to what you can get! You might also find that the neighborhoods look different in person than they do on the internet, and then we can change your criteria.

Doing the right things all the time, providing excellent service without pressure....this is why our Great Western Realty Group members are continuing to thrive, even in this market. And by helping buyers and sellers prepare for the future, we are making sure we have educated clients for the upcoming markets.

Please contact us at www.great-western-realty.com for more information about our free websites!

Karen

Up until the Housing and Economic Recovery Act of 2008 was passed, there existed a little known program called Nehemiah Down Payment Assistance. Nehemiah is a charity organization which gives the down payment for FHA loans to the borrowers. This is not a loan, but a gift. The money was donated to the Nehemiah Foundation by the seller, in escrow and then the Nehemiah Group gifted it to the buyer. This worked in a similair way to seller paid closing costs in that it was often "financed" by raising the offer price to compensate. This allowed true 100% financing. Because it was a gift, this met the qualifications for the FHA down payment requirement which was just raised to 3.5%.

The Housing and Economic Recovery Act eliminated this and other Down Payment Assistance (DPA) programs. Today Representative Al Green introduced a new bill H.R. 600 which is a 2009 version of H.R. 6694 which reinstates the down payment assistance by Nehemiah and other DPA groups. They are proposing some reforms, such as a minimum FICO score, but this would dramatically help our markets.

What is often misunderstood in discussing low/no money down loans, is that FHA loan are for people who qualify, they are NOT sub-prime loans. They have to have a job, bank account statements, tax returns....all the old documentation we used to require. They also have PMI (Private Mortgage Insurance). Now with the loan limits much higher in some markets, this has the potential to bring in a whole new group of qualified buyers to the table.

Here is the link to the site DPA Ground Swell 2 http://capwiz.com/nehemia/issues/alert/?alertid=11709431 I urge all professionals and consumers to support this worthwhile Bill. H.R. 600. If we can get even another 10% into the buyer pool, we can really make some headway toward the recovery of our housing market.

Thank you!!!

www.Great-Western-Realty.com

It's rare that a purcahse offer is accepted without allowing for a home inspection contingency. Just because they are advertising "As-is" does NOT mean that you are not entitled to investigate the condition of the home. If the home is a bank-owned, this investigation is especially important because they do not give you disclosures, they do not have any first hand knowledge of problems and you will have to discover them completely on your own.

This brings us to the next problem. There are many people out there who advertise as home inspectors. And it's sad to say that you may not get the best direction from your agent. Many agents, especially in this market, are afraid to offer a truly GREAT inspector for fear that you might find something out that will scare you out of the home. I understand, but at the same time we agents should be motivated to serve our buyers and their interests. I think we earn loyalty from a buyer who receives a great inspection from an agent and does decide to leave an escrow.

Beware of "visual inspections." Frankly, we can all do that! "Hum, that looks like water once leaked through the ceiling." Is that really the level of inspection you need when purchasing the biggest investment you have, and your HOME? I have an inspector I have used for years and trust completely. He is also one of the few certified mold experts in Southern California. While a routine inspection will not include mold, because of this training, he will alert you to possible mold situations and can recommend further mold investigations if he feels the situation warrants it.

A thorough inspection should include the following:

1) Turn on all appliances and check temperatures.

2) Check the furnace, air conditioning systems and check temperatures.

3) Check the water heater for pressure.

4) Run sprinklers, outside lighting.

5) Turn on all lights and fixtures.

6) Inspect all plumbing and search for evidence of water damage.

7) Check smoke detectors and notice safety issue.

8) Notice cracks in patios, walls, floor and ceilings and make recommendations if further inspection should be done.

9) Climb onto the roof, crawl through the attic, and check storage areas in garage.

In short...this is just the beginning of a good inspection. Then you should get a complete report of what was done and the results so you can make an intelligent decision. And remember, just because a listing claims to be "As-is" doesn't mean you can't negotiate for repairs. Many banks will make concessions for large issues, such as mold or geological problems. Once the bank is made aware of a problem like this, they will have to disclose it to future buyers, so they do have incentive to work with you. FHA will not finance a home with a mold problem, so that again is leverage to use with the bank.

A great buyer's agent knows that the worst phone call to get is the one after the close of escrow with an unhappy buyer due to a foreseeable problem. The best way to avoid that call is to provide the best possible professionals to advise the buyer in advance. A thorough home inspection is just one of those steps and perhaps the most important.

www.Great-Western-Realty.com