Michael Ackerman (DRE# 01232037)

As the HVCC comes knock knock knocking on your door there may be something a LISTING AGENT can do to protect the value of their client's property!

You may find an excerpt from this CAR Magazine article of interest.

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>>Qualify the appraiser. Guy Rivera, a senior loan officer with Pacific Riviera Mortgage in Santa Barbara, says REALTORS® should qualify the appraiser when he or she makes an appointment to inspect a home.

A few questions REALTORS ® might want to ask are:

1.) How long have you appraised homes in this area?
2.) How many properties do you typically appraise in this area each month?
3.) How many properties do you typically appraise each day or on a given day?
4.) What are your data sources and how often are those sources updated?

If an unqualified appraiser shows up to inspect a home, the REALTOR ® should not let him into the home, Rivera suggests.

"We sent back a Ventura County appraiser who came up to do an appraisal in Santa Barbara County. We sent him away," he says.

Offer comparable sales data. The HVCC states: "It would be inappropriate for an appraiser to use comparable sales data provided by the real estate broker who is handling the sale of the subject property, unless the appraiser verifies the accuracy of the data provided with another source and makes an independent investigation to determine that the comparable sales provided were the best available." <<<

http://www.car.org/newsstand/crem/current-issue/september2009/appraisalshakeup/

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As LISTING AGENTS - YOU have the power to PUSH BACK! If we're vigilant in our diligence - we may be able to send those 'out of town' (Carpet bagger) appraisers packing back to whence they came! This legislation has created another profit center for the lenders - (Appraisal Management Companys) Let's use our grass roots influence and the power of technology (Information and the Internet to PUSH BACK!!!)

Think Globally - Act Locally. }:-)

Mike Ackerman (Building Trust for Life)
Zephyr Real Estate - 24th Street
415-695-2715
MAckerman@ZephyrSF.com
ABZ@ZephyrSF.com
www.Zephyr-RealEstate.com

CAN YOU HEAR ME NOW??? FHA must now be the new Sub Prime!!!

Last week by a show of hands at our Wednesday sales meeting of nearly 200 agents it was anectdotally confirmed that the majority of our deals at our 7 offices were FHA deals???

How did that happen? FHA was a language, not unlike Sanskrit, long forgotten in the San Francisco real estate market as loan limits were too low for anyone to really use. ($417,000 - the 'old' conforming loan limit.) Now that the the jumbo conforming loan limit is up to $729,750 any number of properties are within range of buyers who have less than 20% down.

2 of the 10 escrows I currently have open are FHA and they for some reason are closing easier and faster than the escrows with 20% or more down. Hmmm... What does this say about lending?

Apparently:

If you have 20% or more - you will be asked for additional documentation as to where the down-payment came from, in addition it seems that 20% or more borrowers are subject to greater scrutiny.

If you have less than 20% down and are willing to pay mortgage insurance you can PURCHASE a qualifying home up to the limits allowed with less documentation and if you have extra $$$$ - YOU can hold onto it for reserves and repairs.

If packaged right under the FHA-203(k or b) guidelines you can even finance repairs and wrap it all into one loan under FHA guidelines.

In short - FHA loans have become our new sub-prime mortgage market as it fuels a bottom up recovery of our housing market.

So my advice to listing agents who are skittish about accepting an offer from FHA buyers - THINK AGAIN!!! The loan process apparently is smoother as only FHA CERTIFIED mortgage brokers or direct lenders may originate these loans. Typically in SF - the FHA CERTIFIED lender is more experienced, has a bigger pool of resources and can get possibly even get the loan with less hiccups than the conventional lender/mortgage broker. Wow - I've since learned to speak Sanskrit - er uh FHA since it's now the de-facto language of properties selling up to about $800k in San Francisco.

If you're a buyer interested in contacting an FHA Certified Mortgage Broker or Direct Lender - let me know and I'll put you in touch with three that have performed well for my clients!

Michael Ackerman, Zephyr Real Estate, 415-695-2715

ABZ@ZephyrSF.com

GOT JUNK? -- Don't know what to do? Call the Bulk Item Pick Up Program (BIC)

To Schedule Collection Service, Call:

Sunset Scavenger Company: (415) 330-1300

- or -

Golden Gate Disposal & Recycling Company: (415) 626-4000

The phone number should also be on your garbage/scavenger/trash bill

-or- You are just a click away:

San Francisco Recycling

If you call, please tell the customer service representative exactly what items are to be collected. Call by noon and arrange a next day pick up! Monday through Friday. Call by noon on Friday to schedule Monday service. Residential paying customers are entitled to two BIC collections per calendar year. Customers with more than ten items can arrange for the collection of additional items, combining with a RecycleMyJunk.com collection. Additional appointments scheduled through RecycleMyJunk.com program. Large appliances such as refrigerators, washing machines and stoves are limited to one of each type per collection.

If you see JUNK left out on the street without a "BIC" sticker, you may wish to call "311" on your phone and speak with a live City representative who can help you report an abandoned mattress, appliance or auto part!

It's important we all take responsibility in keeping the neighborhood clean as it makes for a great city to live in!

Provided as a courtesy by: Michael Ackerman & Oliver Burgelman

Zephyr Real Estate 4040 24th Street, San Francisco, CA 94114

415-695-2715 - http://www.zephyr-realestate.com/ -

Email to: ABZ@ZephyrSF.com

DRE License: 01232037 & 01388135

Phil Ting - San Francisco City Tax Assessor addresses:

Zephyr Real Estate Agent's Meeting

Below you'll find a link to our San Francisco City Assessor's Office. Remember this is the City that knows how! We have many SF City and County employees here to HELP YOU! Never hesitate to call YOUR City Officials and ask for THEIR help. You'll be pleasantly surprised! They even established a special 311 phone number to help guide YOU!

Phil Ting's address was sincere. He is a quite affable City official. We acknowledge and admire his approach on both enforcement and attempt to make a difference in government. His exuberance exemplifies a sense of fairness and compassion towards the tax payer and the City we all love.

Below you'll find a link for an informal review of YOUR property assessment.

http://www.sfgov.org/site/assessor_form.asp?id=99896

Frequently Asked Questions on Property Tax Assessment:

http://www.sfgov.org/site/uploadedfiles/assessor/assessment/FAQsProp8_%20FY_2009_10_English.pdf

Informal Review Information Sheet for Property Tax Reassesment:

http://www.sfgov.org/site/uploadedfiles/assessor/assessment/InformalRequestforProp8ReviewFY2009_2010.pdf

Online Informal Review for Property Tax Reassessment:

http://www.sfgov.org/site/assessor_form.asp?id=99896

Michael Ackerman / Oliver Burgelman

Building Trust for Life - Top Producer 2000 - 2008 (Working hard in 2009 too!)

Zephyr Real Estate - Noe Valley, San Francisco, California

http://www.zephyr-realestate.com/zephyr3_011.htm

We'd be happy to help you!