Susan Manning

I was gathering a list of properties to show to my new client yesterday and stumbled upon an Ocwen REO. The listing broker is listed as Realty Outsourcing Solutions Inc and the office number for the listing office is a 1 800 number.

I called to inquire if there were any offers in on the property and to find out more about the repairs mentioned in the listing remarks.

I called the number and got someone from India. I could barely understand him. And the it was extremely frustrating and slow with the whole decorum and polite small talk these telemarketers always use. In the end, I could not understand half the things he said and he could not understand my questions.

After further review I see that in order to submit the offer you have to go directly to the Ocwen site and upload the offer there or send it to a 407 fax number which I believe is in Florida.

After reviewing our tour for the day I decided to show other properties that better suited my client and we wrote three offers with one accepted today. I'm grateful I didn't have to end up going through that whole process. I'll keep an eye on that property to see if and when that home closes. In my opinion Ocwen is just shooting themselves in the foot doing business this way.

According to a recent report from CAR the following information was released this week: The minimum household income needed to purchase an entry-level home at $248,030 in California in the fourth quarter of 2008 was $48,900, based on an adjustable interest rate of 6.02 percent and assuming a 10 percent down payment. First-time buyers typically purchase a home equal to 85 percent of the prevailing median price. The monthly payment, including taxes and insurance, was $1,630 for the fourth quarter of 2008. At $48,900, the minimum qualifying income was 42 percent lower than a year earlier when households needed $83,700 to qualify for a loan on an entry-level hold. Recent decreases in home prices and mortgage rates have brought affordability into better alignment with income levels of the typical California households, where the median household income is $59,160.

Basically what this means is that people are being able to afford to buy homes in California. This is the silver lining of this financial crisis we are getting through. I believe people will look back at this time in our history and say " oh wow! you lived during a time when you really were able to make an incredible investment and increase your net worth unbelieveably!!"

Long gone are the days of stating your income. At these prices though, who needs to?

The time to Buy IS NOW!!

Call me today if you are interested in seeing some of the great opportunities in my lovely community of Temecula Valley. I have properties available in every price range!! Thanks for looking! SM

44762 Corte Gutierrez, Temecula 1559 sq ft, 6969 lot $200,000-$215,000 range.**Brand new listing not in MLS yet. Fair Market Transaction!!

30125 Pechanga Dr, Temecula, 949 sq ft, corner lot 7000 sq, $149,000 Short Sale - one lender!

2447 Corte Rojelio, Murrieta, CA 3017 sq ft, cul de sac 8276 lot, $249,000 Short Sale - one lender!

35647 Larkspur Drive, Wildomar, CA 1670 sq ft, 7840 lot, $185,000 Short Sale - one lender! Previously approved!!

2547 Stirrup Rd, Borrego Springs, CA 949 sq ft, large 15,246 lot - Bank Owned, quick response!! $54900 Wow!! Great Price!!

38151 Indian Rd, Anza, CA Bank Owned,pre-listed, not on market yet!

Please join me on February 11 at the Old Town Temecula Theater where I will be performing The Vagina Monologues as a benefit for SAFE, Safe Alternatives For Everyone. This local charity's donations are down more than 50% this year so we really need everyone to come out and show your support, financial or otherwise. All proceeds will go directly to SAFE. Thank you for coming to this truly inspiring and charitable event that helps local women and children when they are being abused at home.

I've been working with a great couple from Oceanside who are first time home buyers and are also engaged to be married next year. We've been looking for a home for them since July. Yes, July.

A lot of people think that since its a buyer's market that it should be EASY to get a smokin' deal on a house. Guess what so does everyone else!! So we've seen just about every property there is to see in South Temecula that was under $220K. We've seen major fixers, we walked in open side garage doors (per the instructions in the MLS mind you), we've seen a body laying on the floor of one of the properties. We had an offer in on a short sale for two months only to be outbid at the last minute by a cash offer a few thousand more than our offer.

Just recently we were one of two offers being considered on a bank owned property that was perfect and we thought "the one." We found out that the bank chose the other offer probably because the other net offer was for more even though Scott and Kari were asking for less back for closing. Go figure.

Well this week we had not one, but two offers accepted. Mind you, we had to wait ten days to get a response back from the sellers on BOTH of these offers. Nothing like getting jerked around a bit more. So this Sunday the family came out to preview both homes and ta-da! We have a winner. The single story with new carpet, new paint on a cul de sac is the winner!!

I'm very excited and we are just beginning the whole process which is going to be a learning curve for them. Representing first time home buyers is a lot of fun for me and I seem to learn something every time from my clients. Thank you for the opportunity Kari and Scott!!

This going to be a VERY fun night and all proceeds will go to scholarships for local high school seniors. The movie is about Realtors and includes scenes such as "Farming", "BK Homes", and "Insider Trading". There are faces and names that most everyone in the industry will recognize and a few surprises too! Even if you don't work in real estate you'll still get a kick out of the movie which pokes fun at all the daily hazards and frustrations we all go through on a regular basis. Surely worth the price which goes to a good cause! Hope to see you there!! SM