Here are 5 more ways you can reduce the risk of having your identity stolen.
- Click with Caution. When shopping online, check out the website before entering your credit card number or other personal information.
- Check your bills and bank statements. Open your credit card bills & banks statements right away. Check them carefully for any unauthorized charges and report them immediately. Call if your bills don’t arrive on time…it may mean that someone stole your mail or changed your contact info to hide fraudulent activity.
- Stop pre-approved credit card offers. Those make a tempting target for identity thieves who may steal your mail. Go to: www.optoutprescreen.com .
- Ask Questions. Ask questions whenever your asked for personal information that seems inappropriate for the transaction. Ask how that info will be used or if it’s shared with others.
- Check your Credit Report. One of the best ways to protect yourself is to monitor or credit history. You can get a free report every year for free from each of the three credit bureaus. One source is: www.annualcreditreport.com .
I hope this information is helpful for you.
You can find more information about cyber security and safeguarding your personal information at the California Office of Information Security: http://www.cio.ca.gov/OIS/
There’s triple trouble for the Golden State’s struggling real estate market: the usual seasonal slowdown, a weak economy and “unrealistic asking prices” by some sellers, according to a report today from the California Association of Realtors.
Statewide, the seasonally adjusted home sales rate dropped 3.5 percent in October from the month before, the group reported. Year over year, though, sales were down 19.6 percent, although the market last fall was bolstered by federal tax credits for many homebuyers. The median price of a resale single-family house was up 2.3 percent from a year earlier to $304,220.
”We’re really seeing two different housing markets — one at the lower-end driven by first-time buyers and investors, which is keeping prices stable, and one with nostalgic sellers who set unrealistic asking prices,” Leslie Appleton-Young, the group’s vice president and chief economist, said in a news release today.
”Sellers need to consider current market conditions when pricing their home in order to facilitate a shorter time on the market,” she said.
“The housing market is experiencing an uneven recovery, and a temporary foreclosure stoppage in some states is likely to have held back a number of completed sales,” Lawrence Yun, the group’s chief economist, said in a statement. “Still, sales activity is clearly off the bottom and is attempting to settle into normal sustainable levels.”
~ Barry Ripp
information provided by Calif Assoc of Realtors with permission: www.car.org
A number of major banks recently have suspended foreclosures in 23 states due to problems with the signing of declarations in connection with judicial foreclosures — foreclosures that proceed through the court system. Bank of America has further expanded its suspension of foreclosures to all 50 states. In California, the vast majority of foreclosures are conducted through non-judicial foreclosure or trustee sales which do not involve a court process.
While California foreclosures are not conducted through the court system, lenders in California must still comply with other legally required procedures for non-judicial foreclosures. C.A.R. is supportive of lenders taking action to ensure homeowners are not improperly foreclosed on and are following state law. We hope they are able to conduct their review expeditiously so as to minimize the impact on California’s housing market.
An update was e-mailed to all C.A.R. members detailing the most recent information available on the foreclosure situation. The update also is posted online at http://www.car.org/tools/smart/foreclosuremoratorium/.
~ Barry www.barryripp.com
reprinted with permission from the Calif. Asso. of REALTORS
A recent survey by Fannie Mae found that 70 percent of Americans think it is a good time to buy a house, with 47 percent of responsdents saying they believe home prices will hold steady over the next year. However, 33 percent said they would be more likely to rent their next home if they were to move.
A majority of Americans (67 percent) continue to believe that housing is a safe investment; however, that number is down 16 percentage points from a similar survey conducted in 2003, according to Fannie Mae. Delinquent borrowers and renters are notably more discouraged than mortgage borrowers and underwater borrowers about a home’s safety as an investment and the appeal of buying versus renting. More than 70 percent of all respondents believe it will be harder for the next generation to buy a home, an increase of three percentage points compared with the beginning of the year.
~ Barry Ripp www.barryripp.com
This information was obtained by the Calif. Association of REALTORS with permission.
The National Association of Realtors report:.
How it works: The organization collects data from all Realtor associations across the country and releases information about the number of sales, median home prices and pending sales. It takes some data, for example, from its MLS listings, which are properties that Realtors have on the market.
The pros: The association has access to tons of data, and the number of home sales and pending sales can show if the housing market is heating up.
The cons: The average price information is on a national, or even county level and it isn’t going to show what your house is worth or how your neighborhood is performing.
The take-away: Most economists say median price — the price at the midpoint of all sales — isn’t helpful in determining home values because its mix of sales can be fairly erratic. For instance, if a bunch of higher-priced homes sell in a given month, the median price will increase but that doesn’t necessarily mean home values have jumped. Also, if mostly low-priced homes sell, then the median price will dip. Still, the number of pending sales and home sales can tell you a lot about the relative health of the housing market.
~Barry Ripp
www.barryripp.com
Sales of homes for less than the amount of their outstanding mortgage debt have tripled since 2008, particularly in California, according to a report released last Tuesday.
Known as “short sales”, the increasingly common transactions for financially troubled homeowners are projected to balloon to 400,000 in 2010. The number of transactions had exploded to more than 160,000 in 2009 from roughly 96,000 the year before. More than a quarter of the transactions occur in California, with another quarter split between Arizona, Texas and Florida
In an economy in which jobs are scarce and a quarter of homeowners owe more on their property than it’s worth, short sales are appealing to investors, banks and owners as a cheaper way out than foreclosure.
And with fluctuating home prices, lenders can be reluctant to approve short sales. The transactions can be a hassle to execute, especially when multiple loans on a home mean a slew of creditors are included in negotiations.
But on the bright side; Short sales could actually end up boosting the job market. Unemployed homeowners who can escape underwater mortgages have an easier time moving around, expanding their job search.
As I finish this posting, there are currently 604 houses for sale in the Fremont tri-city area. Of which 126 are short sales, that’s 20%. Those numbers decrease sharply for the higher priced homes. Of the homes prices over $500,000 only 12% are short sales.
I just thought I would post this beautiful 4 bedroom home in Newark, CA. Its been all remodeled through out and looks great. It’s nearly 2000 square feet.
You’ll love the all new custom kitchen with gas stove, Bosch dishwasher, “Corian” counters and Maple cabinets.
New “Milgard” windows, new carpet, new paint inside & out, new roof & gutters and new garage door & opener too. The large master suite with new bathroom and 2 large closets.
Cherrywood floors highlight the family room & kitchen.
Inside washer/dryer included.
Enjoy the front patio and the large backyard also. I think is could be the perfect home for you and your family.
For a Photo Slide Show, click: http://www.flyinside.com/tour.php?id=42787
Please contact me if you have any questions about this home or others.
~ Barry
I just got the news. Interest rate for a 30 year fixed: 4.5% for loans up to $417,000.
For loans up to $729,000 the rate is: 4.75%
These are great rates, and they won’t last forever. It’s time to upgrade yourself. So contact me today about buying a new home.
If you are preparing to move, you need boxes. If you recently moved, then you need someone to haul those pesky boxes away. Shareabox.com does both, connecting people and boxes. Share a Box was created by two green-minded REALTORS® who believe every box is begging to be used again, again, and again. Visit http://www.shareabox.com/ for more details.
For more green real-estate-related tips and content, visit C.A.R.’s Green Web site (http://green.car.org/).
To comply with the stricter lending guidelines of Fannie Mae and Freddie Mac, and to avoid accusations that the loans sold to Fannie and Freddie are based on inflated appraisals, some real estate professionals have reported lenders lowering home values on appraisals submitted to them. However, effective Sept. 1, Fannie Mae is prohibiting the purchase of loans from lenders who change appraisers’ numbers.
Generally, lenders order a low-cost electronic valuation—based on publicly available statistical data—to review the accuracy of the information submitted by the appraiser. If there is a discrepancy between the electronic valuation and the appraiser’s report, the lender’s underwriters may reduce the appraisal figure.
~ Barry Ripp
From: Calif. Assoc. of Realtors & LA Times
