Fraud in Real Estate Investment

I have been hearing whispers and rumors of an investment fraud being formulated here in Southern California and Riverside.

The fraud works like this:

Get investors who dump large sums of their money into purchasing property. The investment company holds title while the investors have their name on the mortgage - are you seeing a slight problem?

If and when things go south - the investors loose their money and the homes and their credit because they do not hold title of these homes. They are the ones to take the fall on the mortgage issue - because it is their name on the mortgage not the title. If payments are not made it is the investors who loose out - not the people actually doing the fraud.

It works because the "company" gets people to "invest" 401K and other monies into purchasing a home(s). The "company" promises to get renters into these homes - there by allowing the "investors" to make a return and to make the mortgage payments - while the "company" holds title.

The problem is - the "Company" gets their own appraiser to appraise these homes for a much higher value than they are worth - and the "sales staff" from the company get to keep the overage as a "commission" and the "investors" pay far more than the homes are worth.

All of the overages are paid back to the "company" and it's "sales staff" as salary, etc.

When the market goes south - which it did,..these people lost these homes because THEY DID NOT HOLD TITLE! These investors just held the mortgage in their name.

Scary thing is title companies did not have to report nor are they required to report this behavior - as decided by a judge- WHAAAAAAAAAT?! Yep, a judge ruled that a title company has no obligation to report fraud or to police - so that these "Investment Companies" continued their scam on unsuspecting investors.

Okay People, You have heard me say this over and over and over again. When you buy Real Estate you need to work with a Realtor! I/we help protect you from things that are BAD!

Remember when you heard, "If it's To Good To Be True - It Probably Is."

I work hard to protect clients from even stepping foot into homes or situations that have any touch of unethical behavior or fraud.

Think about this next time you are considering purchasing property. You ALWAYS need/want someone to look after your interests and to protect you. Saving a few bucks by not paying someone to protect your interests can end up costing you hundreds of thousands of dollars in loss later on.


Funny thing is - one of the staff from one of these companies contacted me quite awhile ago - and even then I knew this was something I wanted nothing to do with. The sad thing is many investors lost everything - by participating in this scam.

There is a list of companies posted on a website - I will not/cannot post it here because of legal reasons but be sure you drop in and check out the list of companies and staff just to be aware and knowledgeable.

-->http://www.coreclient.110mb.com/page3.html

Be wary when you buy property where you just hold the mortgage only and an investment company holds the title - ALWAYS consult a attorney who is practiced in how you can hold title before you blindly do what some one tells you. ALWAYS have a Realtor on your side.

Life is hard enough sometimes,..do not do something stupid and make it so hard it destroys your entire life and all that you have worked so hard to build.

Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

Home Prices Gain for Seventh Straight Month

MIAMI - Home prices edged up in December, the seventh straight monthly gain and another sign the U.S. housing market continues its bumpy recovery.

The trend is important to the nation's economic recovery. For most Americans, their home is their largest asset, so as values climb homeowners feel wealthier and more comfortable spending. And, for homeowners who currently owe more on their mortgages than their properties are worth, rising prices will rebuild equity.

The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday rose 0.3 percent from November to December, to a seasonally adjusted reading of 145.87. The index was off about 3 percent from December last year, nearly matching analysts' estimates.

The index is now up more than 3 percent from its bottom in May, but still 30 percent below its May 2006 peak.

Home sales data for January, out later this week, are also expected to show gains over year-end levels as buyers took advantage of low interest rates and temporary tax credits.

Anna Piretti, an economist at BNP Paribas, said the price increases are "further evidence that conditions in the house market continue to stabilize."

"While conditions remain challenging in Florida, house price conditions appear to be improving in the Western states, with gains recorded in California, Nevada and Arizona," Piretti wrote in a research report.

Only five of 20 cities in the index showed declines from November to December. Los Angeles and Phoenix posted the largest price increases. Prices dipped in key markets like Miami, New York and Chicago.

In Denver, prices rose for the 10th month in a row, while San Francisco saw its eighth monthly gain.

Buying activity in the San Francisco area is heaviest among homes priced $600,000 and below, said Doug Sager, an agent with ZIP Realty. More listings are receiving multiple offers above the asking price, with sellers preferring all-cash buyers to those who need financing.

"People are realizing the bottom is creeping away" in San Francisco, Sager said.

But there are still obstacles that could derail the recovery.

First, consumer confidence took a surprisingly sharp fall in February amid rising job worries, ending three straight months of improvement

Also, roughly 5 percent of homeowners with a mortgage are in foreclosure, the Mortgage Bankers Association reported last week. As those deeply discounted homes hit the market, they will keep pushing down prices.

And, some economists fear that demand and prices will fall after two federal tax credits expire in April.

"Prices have stabilized and are starting to rise, but forces that will bring them back down are growing," wrote Patrick Newport, an economist with IHS Global Insight.

Michelle Meyer, an economist with Barclay's Capital Research, said prices could fall about 5 percent from current levels.

"The most likely outcome is that it will take years to work through the glut of foreclosures, keeping home prices bouncing around the bottom for quite some time," Meyer wrote in a research report.

Nevertheless, prices have risen for three straight months in Charlotte, North Carolina, which did not see a big price bubble during the housing boom. The busiest price range is for homes under $350,000, said Lyn Kessie, president-elect of the Charlotte Regional Realtors Association.

"Homes are selling a little bit faster, if they are priced right," Kessie said. "If we can increase employment, that will help a lot."

The Case-Shiller indexes measure home price increases and decreases relative to prices in January 2000. The base reading is 100; so a reading of 150 would mean that home prices increased 50 percent since the beginning of the index.

Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

The Real 411 on MEDIAN - Bonds- What Does It All Mean?

What's

Your

Market's

Median

Home

Price?

http://www.realtor.org/research/research/nar_research_maps_msa

Median: What Does it Mean?

http://www.realtor.org/research/research/median

Metropolitan Median Prices

http://www.realtor.org/research/research/metroprice

State and Local Market Information

http://www.realtor.org/research/research/metrohomepriceanalysisreports

BANKS, BONDS, & INTEREST RATES
WHAT MAY BE IN STORE FOR EVERYONE

So, what a interesting week, huh? New reports of Banks and stocks are up, then down , then up, then down. Sometimes many people wonder when will it end, if ever and what does it really mean for me and how does it affect Real Estate and does it affect mortgage interest rates?

Well, here is an example for you:

In the huge mess that was the stock market, many folks decided that the stock market was not their best bet for investments. This may or may not be true but many people took what money they had and choose other alternatives for investments.

One of the options many people choose to invest in was bonds. Bonds offered by banks that offered a low return but felt safe and secure.

Here is the deal. Once the banks sold all of those bonds they did earn some quick income but on the flip side for the banks they MUST earn more $ so that they can pay up on the bonds that they sold.

Banks must earn money so that they can pay bonds and operating costs and earn enough left over to again pump back into loans to earn more money.

That being said - think for a moment about how banks earn money. Banks earn money by the interest they charge on their loans, any loan.

This means that in order for the banks to cover the costs of these bonds (when these bonds come due) they must bring in more money from the interest rates they have in place from the loans and lines of credit that they sell.

This brings us full circle - BANKS MUST START CHARGING HIGHER INTEREST RATES. Period.

Here is the tough part. I do not know when, but it is very certain it is bound to happen. The opinion on this is that when they do start to go up they may not creep up but may in-fact shoot up.

This is not a scare tactic. This is just a FYI of what is going to be coming down the pipeline - sooner or later.

That is the bummer of what is bound to happen in our already crazy economy. This will of course make a home purchase out of reach for many people and for others - this will limit what they can afford.

So, now that you know - "So What" you may say. How does this affect you?

1) If you have been on the fence about a home purchase - it is time to get off the fence - NOW.
2) How do you start the process of getting a home and the financing that is involved?
3) Talk to me. Talking to me is Free, Simple, & Easy.

I know lenders who I trust. I know Realtors here in California and have a network or Realtors and Agents across the USA and beyond.

If you have been following my work you will notice that you get advance notice of HOT BUYS posted to Twitter - that are missed by many people.

You get access to search the MLS like a Real Estate Agent and can see the homes for sale in your neighborhood and community that may not have signage. You also get access to see your competition if you are looking to sell your home and get access to view ALL HOMES listed on the MLS. You may be surprised at the amount of homes that many agents will not show to clients. Also if we decide that we are a fit and you are Ready, Willing & Able, you will be given a unique hands on approach to finding the perfect house that fits you and your lifestyle as well as your budget.

One thing that I do - I will tell you how it is. Not every person who comes to me is ready, willing or able to start their Real Estate process. I choose to represent those who meet the absolute criteria of a Ready, Willing & Able Buyer, Seller, Investor.

With a limited and exclusive list of clients this allows me to spend 90% of my working time with my clients instead of 90% of my time trying to find new clients. This also means that I rely on my current subscribers, friends, clients, and business associates for referrals.

If you are ready to step up to a new level of service - Talk To Me. Let's see if we are ready to get moving and take advantage of record low interest rates and some of the lowest prices on homes we have had in decades.

IN CLOSING -
Here is this weeks info on Rates from someone who I know and Trust,
Heather Millspaugh

Curious? Want to know more? Talk To Me!

Ken Webb - Realtor/Agent OCAR, NAR, CAR F1RST TEAM Real Estate
Email: kenwebb@firstteam.com Phone/Text: (949) 243-6649 DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a referral from my friends and clients"

Weekly Mortgage Update

Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

My Integrity - My Ethics. Are You Being Protected?

Fair Housing:

Properties entered into the Southern California MLS databases
are subject to the Fair Housing Act.
It is illegal to include,
infer,
indicate
or advertise
any preference or discrimination
because of race,
color,
religion,
sex
or sexual preference,
handicap,
familial status
or national origin,
or intention to make any such preference,
limitation
or discrimination.
Southern California MLS will not
knowingly accept any information that is in violation of the law.
All properties listed
are
available on an equal opportunity basis.

Their rules now -
my motto before they wrote it
Ken Webb

Urgent Real Estate News for California - From C.A.R

CAR NEWS LINE - FEB 2010

Percentage of reduced listing prices declines 4 percent
The percentage of homeowners who reduced their listing prices declined approximately 4 percent in January compared December, according to a monthly survey conducted by ZipRealty, which examines home listings in 27 major markets.

Slightly more than 40 percent of home listings experienced at least one price reduction in January, compared with 44 percent in December, according to the report. On average, homeowners within all markets studied reduced list prices by $21,925.

The Los Angeles, San Diego, and San Francisco markets were among those with the lowest percentage of price-reduced homes, with Los Angeles and San Diego both coming in at 32.6 percent and San Francisco at 31.9 percent.



Entry-level housing affordability remains at 64 percent
The percentage of households that could afford to purchase an entry-level home in California remained at 64 percent in the fourth quarter of 2009, compared with 61 percent for the same period a year ago, according to a report released Friday by C.A.R. C.A.R.’s First-time Buyer Housing Affordability Index (FTB-HAI) measures the percentage of households that can afford to purchase an entry-level home in California.

The minimum household income needed to purchase an entry-level home at $257,940 in California in the fourth quarter of 2009 was $44,100, based on an adjustable interest rate of 4.5 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 $1,470 for the fourth quarter of 2009.

At $44,100, the minimum qualifying income was 4 percent lower than a year earlier when households needed $45,900 to qualify for a loan on an entry-level home. Home prices remained below peak levels, resulting in an improvement in housing affordability compared with the previous year.




Foreclosures decrease 10 percent in January
Foreclosures decreased 10 percent in January compared with December, according to RealtyTrac®’s monthly foreclosure market report. Foreclosure filings were reported on 315,716 U.S. properties in January, a 10 percent decrease compared with December, but up 15 percent compared with January 2009. The report also found nearly one in every 409 U.S. housing units received a foreclosure filing in January.

Foreclosure activity in California decreased 10.77 percent in January compared with December, with one in every 187 housing units receiving a foreclosure filing, according to the report. Six California cities registered foreclosure rates among the top 10 in the nation: Modesto, one in every 107 housing units; Stockton, one in 107; Riverside-San Bernardino-Ontario, one in 109; Merced, one in 109; Vallejo-Fairfield, one in 112; and Bakersfield, one in 118.




Sales of existing homes increased 13.9 percent nationwide in Q4
Sales of existing homes, including single-family and condos, increased 13.9 percent to 6.03 million units in the fourth quarter, compared with 5.29 million units in the third quarter, according to a report by NAR. Sales also were 27.2 percent higher than the fourth quarter of 2008. Distressed properties accounted for 32 percent of fourth quarter transactions, a decline from 37 percent a year earlier.

The national median home price for existing, single-family homes was $172,900 in the fourth quarter, a 4.1 percent decrease compared with the fourth quarter of 2008. In the West, which includes California, existing-home sales increased 16.2 percent in the fourth quarter to an annual rate of 1.38 million units, 18.2 percent higher than a year ago, according to the report. The median home price of existing, single-family homes in the West was $227,200, a decline of 8.9 percent compared with the fourth quarter of 2008.

Fast Facts
Calif. median home price: December 09: $306,820 (Source: C.A.R.) Calif. highest median home price by C.A.R. region December 09: Santa Barbara So. Coast $847,500(Source: C.A.R.) Calif. lowest median home price by C.A.R. region December 09: High Desert $121,010 (Source: C.A.R.) Calif. First-time Buyer Affordability Index - Fourth Quarter 2009: 64 percent (Source: C.A.R.) Mortgage rates - week ending 2/11/10 30-yr. fixed: 4.97 Fees/points: 0.7% 15-yr. fixed: 4.34% Fees/points: 0.6% 1-yr. adjustable: 4.33% Fees/points: 0.6% (Source: Freddie Mac)

Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

Cash is King! - Issues for Home Buyers in California

Homebuyers finding that cash really is king

Share

Today at 8:45am

LOS ANGELES - Melissa Hughett and her husband set out to buy their first home in the best buyer's market in years, confident they would land a deal within a few months.

The couple put offers on several homes, but lost them all to rivals who weren't offering more money — just a lot more cash.

"Each time somebody came in and put $100,000 down in cash and scooped up the property or they had enough money to pay for the whole property in cash," said Hughett, 30. "It's agonizing."

Would-be homebuyers, armed only with financing, are competing with real estate investors with the means to pay for a home in cash. Often, the all-cash buyers are edging out everyone else, leaving many frustrated at a time when lower prices and tax incentives favor buyers.

The market scuffle is happening primarily over heavily discounted foreclosed homes and other properties typically under $300,000, or even well below $100,000 in some markets. These homes are attractive to investors seeking a good return and first-time buyers looking for an affordable home.

The trend is most pronounced in areas of California, Florida, Arizona, Nevada and elsewhere where home prices have dropped sharply and foreclosures make up a large slice of homes for sales in many metro areas. In Las Vegas and Phoenix, for example, foreclosures accounted for more than half of all home resales in December, according to MDA DataQuick.

Although getting financing for heavily damaged foreclosures can be difficult, there's still a healthy competition. Ultimately, cash is king.

"Even though a first-time buyer may be offering the same price as an investor, or a higher price, the investor has the edge," said Jed Smith, a researcher for the National Association of Realtors. "The investor may actually pay less, but it's cash, right now."

Across the country, some 22 percent of all previously owned homes sold in December were purchased entirely with cash, up from 16 percent a year earlier. That's the highest level since March and April, when all-cash purchases made up 30 percent of sales, according to a survey by the trade association.

That rate jumps even higher in metro areas where foreclosures have driven home prices down sharply.

In Las Vegas, all-cash transactions accounted for nearly 46 percent of all sales in December, up from 33 percent a year earlier, according to MDA DataQuick. In Miami, they were 54 percent of sales, an 8 percent increase. While in Southern California, they accounted for a quarter of sales, an increase of 2 percent.

"I've never seen so many cash transactions in my career as I have in this market," said Stephanie Vitacco, a Coldwell Banker agent in Woodland Hills, Calif., with 20 years in the business.

Making matters worse, the inventory of homes for sale is down in many markets. That's due in part to banks delaying the foreclosure process as troubled homeowners are evaluated for loan modification assistance. It has all made the competition for the most affordable properties even fiercer.

Many of the cash buyers are groups of people who have pooled their money to buy foreclosures and flip them or turn them into rentals. Another large segment consists of homeowners looking for a vacation property. It's possible that some cash buyers will turn around and take out a mortgage later.

Sellers favor all-cash or cash-heavy deals because it speeds up the closing process and makes it more likely the transaction won't fall through. One common concern when a loan is necessary is that the property appraisal could come in too low for the bank to approve the deal. It's a pitfall that's become more common as home values have fallen.

"Even if the offers are comparable, a seller will go with all cash all of the time," said James Joseph, who owns Century 21 and Coldwell Banker real estate offices in Southern California. "They don't have to worry about an appraisal."

Hoping to circumvent competition from investors, Hughett approached family friends about buying their three-bedroom, two-bath house for $340,000. The owners had yet to put the home for sale.

"That's the only way we can get in," said Hughett. This way she and her husband are sure there won't be another buyer "coming in and dropping a large amount of cash."

Homebuyers who can't afford to pay cash are at a disadvantage. But experts say there are some steps homebuyers can take to boost the chances:

• Get a financing prequalification letter from a lender for an amount that's 20 percent higher than the price they're offering the seller.
• Come up with a large down payment in the 20 percent range.
• Look for HUD properties. Only noninvestors are allowed to make offers on HUD properties during the first five days that they hit the market. That gives buyers a head start over investors or those looking for second homes.
• Ask a real estate agent to get a list of recently repossessed properties being prepared for sale. It can take several weeks before these homes hit the market. That's because the bank's agent can't officially advertise the home until it's ready to be sold. But agents can ask for details on these foreclosures and get their clients ready to pounce.
• Write a letter to the seller or bank handling a foreclosure sale and make a case for why they should sell you the property — anything to make you stand out as a potential buyer.

Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649

DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

Urgent Credit Policy Changes for Home Loans

Greetings,



Good morning,

Below summarizes the credit policy changes discussed in this morning branch meeting. Please let me know if you have any questions and thank you!



1) Expansion of Mortgage Insurance Allows 85.0% LTV in California- Effective 2/20/10

High Balance Conforming Loans for Purchase of Primary Residence with Fixed Rate eligible to 85% in California up to maximum to $729,750. NOTE: Maximum Debt-To-Income Ratio remains 41.0% for all LTV’s greater than 80.0%.



2) Expansion of Mortgage Insurance Allows 95.0% LTV in California- Effective 2/22/10

Conventional Conforming to $417,000 loan amounts. The minimum middle credit score must be:

Single Family 720

Condominium 740

NOTE: Maximum Debt-To-Income Ratio remains 41.0% for all LTV’s greater than 80.0%.



3) FHA Property Flipping Changes- Effective 2/01/10

At this time, Wells Fargo is only offering this enhancement for transactions with sales prices that do not exceed 20% of the amount the seller paid for the property . A property is eligible for FHA financing if Seller is owner-of-record 90 days or less if ALL requirements listed below are met. A policy is being considered for possible future implementation for greater then 20% sales prices.

The sales price cannot exceed 20% of the amount the seller paid for the property
The contract of sale for the purchase must be fully executed between 2/10/10 and 2/01/11
The transaction is arm’s length, with no interest between buyer and seller or other parties participating in the transaction.
Limited Liability Companies (LLC’s), Corporations or Trust serving as sellers were established and are operated in accordance with acceptable state and federal laws.
There is no pattern of previous flipping activity for the subject property as evidenced by multiple title transfers within 12 months.
The property was openly and fairly marketed (e.g. MLS, auction, FSBO)
Appraiser must:
Comment on any improvements to property made by sellers supported with photos
Acknowledge the increase in sales price from previous sale and provide specific commentary on support for increase in value
Provide a listing and sales history of subject property
The fully executed purchase contract can NOT be re-dated.
The buyer’s real estate agent can NOT be seller and can NOT be employed by, related to or affiliated with the seller.
10. Review and compare information with LoanSafe internal report.

Thank you,

Heather Millspaugh
Home Mortgage Consultant
heather.s.millspaugh@bankersfundingcompany.com
http://www.homeloans.com/wfhm/heather-millspaugh

Ken Webb - Realtor/Agent
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

SoCal Home Buyer's Fair - in LA - 3/13-3/14/2010 Not To Be Missed!

SoCal Home Buyer's Fair - in LA - 3/13-3/14/2010 Not To Be Missed!


Southern California Home Buyer's Fair March 13 and March 14



With interest rates at historic lows and home prices at affordable levels now is an ideal time to buy a home. Chances are you have many questions, ranging from how to find and qualify for a mortgage loan to what steps are required to get from finding a home to closing escrow and moving in.

The answers to these and many other crucial questions about the home-buying process will be the subject of more than 60 educational seminars presented in English and Spanish by a wide variety of real estate experts at the Southern California Home Buyer’s Fair on Saturday and Sunday, March 13 and 14, at the Los Angeles Convention Center in downtown Los Angeles.

The Southern California Home Buyer’s Fair is co-sponsored by the CALIFORNIA ASSOCIATION OF REALTORS® and the Los Angeles Times. This free, two-day trade show and educational forum was expressly created to give you all of the information you need to successfully navigate the road to homeownership -- whether you’re a first-time buyer, investor, or existing homeowner looking for the most up-to-date information about today’s real estate market.

The Southern California Home Buyer’s Fair also will feature exhibit booths where visitors can obtain information from industry experts about a vast range of programs pertaining to homeownership and the home-buying process.

For more information about the Southern California Home Buyer’s Fair, please visit www.homebuyersfair.com.

Your Newsletter is Powered by:

Ken Webb - Realtor OCAR, NAR, CAR F1RST TEAM Real Estate Email: kenwebb@firstteam.com Phone/Text: (949) 243-6649 DRE Lic # 01844181 SEARCH JUST LIKE AN AGENT http://www.kwrealestate.listingbook.com CURRENT REAL ESTATE NEWS http://kenwebbkwrealestate.blogspot.com UP TO THE MINUTE UPDATES ON TWITTER http://twitter.com/KW_Real_Estate STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES http://kenwebb.housingtrendsenewsletter.com/ "The finest compliment I could ever receive is a referral from my friends and clients" Save the date! LOCATION: The Los Angeles Convention Center in downtown Los Angeles; 1201 S. Figueroa St., Los Angeles, CA 90015. http://www.homebuyersfair.com/ Click here to download the consumer fact sheet. DATE: Saturday, March 13, 2010 10 a.m. - 5 p.m. Sunday, March 14, 2010 11 a.m. - 4 p.m. ADMISSION: Free to the public. I am thinking of doing a trip to LA for this event with those of you who are serious about finding your home in 2010. This event will be a fantastic way for you as either a buyer or a seller (Or both!) to get some insider information in today's housing market. This will be a great way for us to get to know each other and to take some time to speak to other experts in the field and to get additional questions answered that you may have. If you are interested in participating in this event we will need to schedule a time to meet and then head out to LA to the event. This will be a great time to be had by all. This can be a great feild trip for you to spend time with your family and loved ones as you search for answers and new questions in your Real Estate search. Plus I know there are some great places to eat in LA that you are sure to enjoy that are sure to be a fantastic way to cap off a fun afternoon. Call me or text me at my cell. Sincerely, Ken Webb - Realtor/agent OCAR, NAR, CAR F1RST TEAM Real Estate Email: kenwebb@firstteam.com Phone/Text: (949) 243-6649 DRE Lic # 01844181 SEARCH JUST LIKE AN AGENT http://www.kwrealestate.listingbook.com CURRENT REAL ESTATE NEWS http://kenwebbkwrealestate.blogspot.com UP TO THE MINUTE UPDATES ON TWITTER http://twitter.com/KW_Real_Estate STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES http://kenwebb.housingtrendsenewsletter.com/ "The finest compliment I could ever receive is a referral from my friends and clients" p.s. please feel free to forward this on to any friends, family & business associates who may also be considering a change in Real Estate.

4 Reasons to Sell Now

4 Reasons to Sell Now

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.

• Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
• Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
• Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
• Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.

Source: McClatchy Tribune


Ken Webb - Realtor
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

Tuesday Real Estate Updates - From Ken Webb

It's Tuesday!

Are you ready for a new week? I understand life gets busy for many of us and we forget to check in sometimes and stay informed.

3 THINGS TO TALK ABOUT TODAY

1) Asking questions with Heather - Your BEST option in Lending - Ask her anything.

2) Opening your Real Estate Searches.

3) Asking questions.

I had posted a very casusal blog awhile back on a conversation with a friend about how important it is to get a low rate when you are packaging your home purchase products together. I try to remind everyone that a single 1 point increase = about a 10% loss in purchase power. See--> http://kenwebbkwrealestate.blogspot.com/2010/02/new-blog-for-fun-your-monthly-estimated.html
(Copy and paste to browser window)

I want you to be aware of one of the best people I know in the loan industry and who is located right here in Laguna Niguel. I say this over and over again but it is true "You Need To Be Pre-Qualified First Before You Can Make an Offer on A Home" Heather is with Banker's Funding and has been in the Loan Industry for Years - NO she did not get all caught up in those bad loans you hear so much about. She helps me each week by helping to produce this newsleter that gives yout he 411 on what is going on - see it here--> http://www.mortgageupdate.biz/HeatherMillspaughsWeeklyMortgageNewsletter.pdf
(Copy and paste to browser window)

Also you need to be opening your Real Estate search at least once a week to stay current.

Did you know there are price drops on some of your choices while there are increases on others? It takes less than 5 minutes to take a peek at the list.

The people who actually take a look every day for under 5 minutes will have the best advantage. They get the opportunity to act first on a great home that meets their needs and desires.

Many times the best homes listed are only ACTIVE on the MLS for a short time. Take advantage of the home searches I send to you every day. If you need your link resent with your personal information LET ME KNOW! This MLS link provides you the best UP-TO-DATE search tool there is-period. NOTHING is as current or accurate.

I have this updated 4 times every hour from the OCAR, NAR, and CAR website. This assures you more pictures, better tax info on the home(s) and quicker & faster responses to searches that produce real time results. See it here--http://www.kwrealestate.listingbook.com/
(Copy and paste to browser window)

If you are serious about owing a home or selling your current home or you just need some questions answered - ask me. I know the 1st step may seem hard or you may think you can never get a home today.

NOW is the time to act. Think about it for a moment. The "Bottom of the Market" has already arrived for many areas in Orange County. The super low 3.5% rates are now on average about 5.5%. Inventory on the best homes are being snatched up fast. Real Estate in today's market has changed. Things do not always run "Like they used to".

So to recap our game plan:

1) Get ready to get Pre-qualified! This means calling Heather TODAY - and just talk to her. There is no cost and no obligation and she is a great person to get some answers to many of your questions. Heather @ Banker's Funding - Work - 949-547-5848. CALL HER TODAY! CALL CALL, CALL.

2) Get active! Open your Real Estate searches I send every morning. If you need changes made - TALK TO ME! I can help. If you lost your username or password - TALK TO ME! I can help. If you do not take just a couple of minutes each each week to open your account you will not stay ahead of the pack of Buyer's and Seller's that are competing in today's Real Estate Market.

3) Have Questions? TALK TO ME! As simple as this may sound - it is true. I cannot help you unless you let me know you need it.

I work hard to make all of the available information regarding all aspects of Real Estate available to all of you every day, updated in many cases every 15 minutes. Information on cities and communities you want to live in. Information on houses that many agents still do not share.

I give everyone access to every home for sale on the MLS - every single one. Not just my office's homes or my Broker's listings for all of California, but every single home on the market , right now. In some cases for the more serious buyer I can get you into homes that are not even listed for sale (talk about a HUGE advantage!)

Today is the day to get "jumping" and get ready to move. Shake off those cobwebs and lets get MOVING! -

Sincerely,





Ken Webb - Realtor
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic
Ken Webb - Realtor
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com

UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/


"The finest compliment I could ever receive is a
referral from my friends and clients"

Personalized Home Previews in South OC, California

Good morning!


Just an FYI-

I am heading out at 10:45 am to preview some homes here in south OC. I will be at Laguna Niguel, Newport Coast & Newport Beach.

Homes are all SFH with great features - the price ranges from under $800,000 to just under $1.1 million. Most are a 3 bedroom + & set up with room for 2 or more cars.


I am heading out at 10:30 to start in Newport Beach area then will head south and finish in Laguna Niguel.


If you have been looking for a home - and are wondering what you may have missed- I will be going inside these homes and doing a full preview. This can also be a great way to learn about some simple things to look for as you look at homes.


Hit me up 949-243-6649 - by 10:45 am You can either follow in your car or head out out in mine. If you do come- bring a pen and a small pad of paper or notebook or something to write on.


Class Is In Session!

See You Soon!

Ken Webb - Realtor
OCAR, NAR, CAR
F1RST TEAM
Real Estate
Email: kenwebb@firstteam.com
Phone/Text: (949) 243-6649
DRE Lic # 01844181

SEARCH JUST LIKE AN AGENT
http://www.kwrealestate.listingbook.com

CURRENT REAL ESTATE NEWS
http://kenwebbkwrealestate.blogspot.com


UP TO THE MINUTE UPDATES ON TWITTER
http://twitter.com/KW_Real_Estate

STATE WIDE AND LOCAL REAL ESTATE FACTS & FIGURES
http://kenwebb.housingtrendsenewsletter.com/

"The finest compliment I could ever receive is a
referral from my friends and clients"

New Blog - for Fun - Your Monthly Estimated Payments

Taken From a Facebook Notes/Blog

You have to go outside today - it is stunning in Laguna Beach! Stop waiting to buy Property!

Saturday, January 30, 2010 at 3:26pm

drove with the top down in the cold air and blue sky,..listening to some cool Abba,...heated seats on with heater blow'n warm air on my feet,..my gosh what a good feeling,..lots of sensations! cold air on your face - a warm tushy and comfy feet,...it makes u feel so ALIVE,.. that and a few shots of espresso on an empty stomach,..lol - jazzed to go out wit some clients today to check out some Laguna Beach homes- fyi - the price drop on homes - the one u hear of so often is semi inaccurate - not so tru in beach areas ,..2nd,..the interest rates went from (in some cases ) below 4.0% to average of 5.5% - this means you lost more than 10% in purchase power and will end up paying more each month for less. PLEASE do not get into a 6% loan because you waited and waited thinking a house will drop more.

fewer properties on the market = more competition for those items,..more competition = higher prices...Listed price - if it is uber low is a fishing expedition and will get higher offers as people bid on a home.

DO not be fooled by a home with a super low price - listed as a short sale,..subject to lender approval.

Do not be fooled by an uber low price on a home to good to be true,...the adage of too good to be true,...well it is.


Here is a sample of a home that is 450,000 at a 3.75% rate = 2084 x 12 = $25,008

Same home at a 5.75& rate = 2626 x 12 = $31,512 You Just Increased your yearly expenditure by $6,504.

Or - lets say you wanted to match the $2084 a month rate at the current 5.75% you would only be able to buy a home worth around $326,250 +, - You just lost $123,750 in purchase power.


I hope this shows you that - yes a house price is important - but the rate at which you pay the loan back is just as or even more important.

In this case - you went from owning a 3 bedroom single family home to a small 2 bedroom condo or smaller type home for Southern California.


Arrgh - this makes me feel ill when people keep saying they will will drop further,...

What a loss! That loss is close to 28% of your purchase power. OUCH!

February 2010 eNewsletter - Housing Trends eNewsletter

Your February 2010 eNewsletter
From The Desk of Ken Webb

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the FEBRUARY-2010 Newsletter Housing Trends eNewsletter:
http://kenwebb.housingtrendsenewsletter.com?Newsletter_ID=242&Period_ID=182

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

It also includes press releases with charts and videos, key market indicators and real estate sales and price statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:

http://kenwebb.housingtrendsenewsletter.com/dispContent.cfm?loadid=2&loadtype=0

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

Sincerely yours,

Ken Webb
First Team Real Estate & KW, Realtor
17 La Mirage Circle Aliso Viejo CA 92656
949-885-9019 | 949 243-6649
kenwebb@me.com