(714) 813-1809

Debbie@DebbieFranklyn.com

Community Yard Sale

October 8, 2011 from 7 a.m. to 3 p.m.

Cross streets are Cerritos and Walnut in Anaheim

• There will be another garage sale this year, a little earlier than 2010.

• It will be advertised in the Pennysaver and the Register.

•  Approximately 400 homes will be selling anything and evrything including housewares, clothes, toys, electronics and more!

     We will have LARGE BANNERS and open house directional signs. I suggest you come early for the best pickings. Have a wonderful time!

My client lives in a house that is no longer worth what she paid for it. Like  many Americans, she bought her home when the market was high, her family has grown and she needs a larger house. She is able to make her payments but her house is worth less so if she did sell she would be facing a short sale. Her credit for 3 years would be affected, so she would be unable to buy now.

We have discussed all sorts of methods and choices. Once choice is that she has a relative who has a small mortgage on her home with alot of equity. If that relative sold her home and they moved to a new home together then they would be able to purchase. That would still mean doing a short sale on her current home or choosing to rent it out.

You may have guessed it! Yes, that other person is her elderly mother! We discussed them finding a larger home for all of them. That got me to thinking, what about all of those people in similar circumstances with NO RELATIVES that could help like this?

Households are changing and many families now tend to live together for extended periods. Also, as the population ages, caring for senior family members has become an issue in many households, and nursing homes are not always the answer. If you’re one of the many adults considering having their elderly parents or other family members move in with them, consider the value of in-law apartments.

 For many families, a successful living arrangement depends on being able to provide separate, private living space for the parent or adult child, and in-law apartments do just that. Buying a home already furnished with a separate apartment may not be feasible for you, but that doesn’t mean an in-law apartment is out of reach.

 Whether converting existing space or adding on to your new home, a good bank or mortgage company can help.

 If you are looking to purchase a new home, a bank can help you to finance both the purchase of your home and all your renovations with just one loan.

Wells Fargo Bank Web Site says the advantage of their loan is:

• More Money — the amount of money you are permitted to borrow for the purchase and renovations is based on the increased value of the home after improvements are made.

• Lower Monthly Payments — your renovation costs are spread throughout the entire term of the loan – so your monthly payments may be lower than other financing options.

• Tax Deductibility — the interest on the cost of your improvements, included in your mortgage, may be tax deductible.*

• Speed — start making improvements immediately after closing. No need to wait for that modern kitchen or new roof. And, no need to pass up a house that’s in the ideal location but needs improvement.

• Simplicity — One application, one set of fees and closing costs, one closing to attend and one payment each month.

If you already own a home, the Refinance and Renovate^SM Loan may be the right option for you. This loan can help you to simultaneously refinance your mortgage, possibly obtain a lower monthly mortgage payment and get the money you need to renovate – all in one transaction.

The Refinance & Renovate^SM Loan offers:

• More Money for Improvements — the amount of money you can borrow is based on the increased value of your home after improvements are made

• Lower Monthly Payments — the interest rate on a Refinance and Renovate Loan will typically be lower than the combined interest you would pay on a first mortgage plus a home improvement loan

• Tax Deductibility — Financing your improvements into one mortgage may provide a greater deduction than some home equity loans. Credit card debt and many other bank loans are not deductible at all.*

• Speed — start making improvements immediately after closing

• Simplicity — One application, one set of fees and closing costs, one closing to attend and one payment each month

If you need a referral to a Wells Fargo representative, please let me know. I have a wonderful contact with whom I have done business for many years….

Zoning and Insurance
While in-law apartments are a great choice for many families, there are still some issues you should consider before making a decision. Make sure you check the zoning ordinances in your community. In some areas, adding an in-law apartment to a single family home can change its property category to a duplex, especially if there is a separate entrance. Also, check with your insurance company to see if any extra home insurance may be required.

•             This is a two bedroom, two bath two story condominium. Located on a tree lined street across from the Anaheim Plaza.

•             Close to the 5 and 91 freeways, public transportation, lots of shopping including ethnic grocery stores, restaurants, Walmart, Kaiser Permanente and so much more!

•             Approximately 1022 square feet of living space, this condo has a 2 car attached garage and inside laundry. It has central air conditioning and forced air heat.

• This is a lovely family home consisting of 4  bedrooms 2.5 bathrooms.Approximately 1656 square feet of living space, this home consists of the following:

• Remodeled kitchen, oak cabinetry and remodeled bathrooms with two roman tubs. Recessed lighting throughout most of this home

• Cul de sac location

• Sparkling pool and above ground jacuzzi.

• Fourth large  bedroom is being used as a den and has no closet.

• Located off Cerritos in between Euclid and Nutwood streets, it is close enough to Disneyland, but not too close and yet this cul de sac location on the tree lined street

              gives you a feeling of serenity.

           The family who will be moving into this home soon will be enjoying their relaxing spa and swimming pool and enjoying their friends whom they will be entertaining here.

If you are looking for a home in this area, please contact me! I meet many potential sellers daily and may become aware of a new property for sale any time! Debbie@DebbieFranklyn.com

WASHINGTON (AP) — The Obama administration may turn thousands of government-owned foreclosures into rental properties to help boost falling home prices.

The Federal Housing Finance Agency said Wednesday it is seeking input from investors on how to rent homes owned by government-controlled mortgage companies Fannie Mae and Freddie Mac and the Federal Housing Administration.

The U.S. government rescued Fannie and Freddie in September 2008 and has funded them since the financial crisis. The mortgage giants own or guarantee about half of the nation’s mortgages and nearly all new mortgages.

At the end of last month, the government owned roughly 248,000 foreclosed homes, officials said. About 70,000 of those are listed for sale. But officials expect the number of foreclosures to soar in the coming months.

Many foreclosures have been stalled so attorneys general and federal regulators can investigate whether lenders cut corners and improperly handled thousands of cases. Once a settlement is finalized, foreclosures are expected to pick up again and further depress home prices.

Converting the homes into rentals may reduce “credit losses and help stabilize neighborhoods and home values,” said Edward DeMarco, acting director of the Federal Housing Finance Agency, which oversees Fannie and Freddie.

Homes in foreclosure sell at a 20 percent discount on average, which can hurt prices of surrounding homes.

It also might meet the growing demand for rentals. Since the housing meltdown, nearly 3 million households have become renters. At least 3 million more are expected by 2015, according to census data analyzed by Harvard’s Joint Center for Housing Studies and The Associated Press.

A federal “request for information” released Wednesday included an option for previous homeowners to rent out the homes or for current renters to lease to own. Private investors could also be allowed to manage the rental properties.

Officials are also mulling whether to only implement the program in areas hit hardest by foreclosures and in those with high demand for rental housing, such as Arizona and Florida.

The homes include single-family homes and condominiums. The deadline for responses is Sept. 15.

The Birth of American Independence

I found this on HISTORY.COM) AND WANTED TO SHARE WITH MY READERS!

When the initial battles in the Revolutionary War broke out in April 1775, few colonists desired complete independence from Great Britain, and those who did were considered radical. By the middle of the following year, however, many more colonists had come to favor independence, thanks to growing hostility against Britain and the spread of revolutionary sentiments such as those expressed in Thomas Paine’s bestselling pamphlet “Common Sense,” published in early 1776.

On June 7, when the Continental Congress met at the Pennsylvania State House (later Independence Hall) in Philadelphia, the Virginia delegate Richard Henry Lee introduced a motion calling for the colonies’ independence. Amid heated debate, Congress postponed the vote on Lee’s resolution, but appointed a five-man committee–including Thomas Jefferson of Virginia, John Adams of Massachusetts, Roger Sherman of Connecticut, Benjamin Franklin of Pennsylvania and Robert R. Livingston of New York–to draft a formal statement justifying the break with Great Britain.

On July 2nd, the Continental Congress voted in favor of Lee’s resolution for independence in a near-unanimous vote (the New York delegation abstained, but later voted affirmatively). On that day, John Adams wrote to his wife Abigail that July 2 “will be celebrated, by succeeding Generations, as the great anniversary Festival” and that the celebration should include “Pomp and Parade…Games, Sports, Guns, Bells, Bonfires and Illuminations from one End of this Continent to the other.” On July 4th, the Congress formally adopted the Declaration of Independence, which had been written largely by Jefferson. Though the vote for actual independence took place on July 2nd, from then on the 4th became the day that was celebrated as the birth of American independence.

Did you know that John Adams believed that July 2nd was the correct date on which to celebrate the birth of American independence, and would reportedly turn down invitations to appear at July 4th events in protest. Adams and Thomas Jefferson both died on July 4, 1826–the 50th anniversary of the adoption of the Declaration of Independence.

For all of our other military personnel, where ever they may be. Please Support all of the troops defending our Country. And God Bless our Military who are protecting our Country for our Freedom. Thanks to them, and their sacrifices, we can celebrate the 4th of July.

We must never forget who gets the credit for the freedoms we have, of which we should be eternally grateful. I watched the flag pass by one day. It fluttered in the breeze. A young Marine saluted it, And then he stood at ease. I looked at him in uniform; so young, so tall, so proud. With hair cut square and eyes alert, he’d stand out in any crowd.

I thought how many men like him had fallen through the years. How many died on foreign soil; how many mothers’ tears? How many pilots’ planes shot down? How many died at sea? How many foxholes were soldiers’ graves? No, freedom isn’t free.

I heard the sound of Taps one night, when everything was still. I listened to the bugler play And felt a sudden chill. I wondered just how many times That Taps had meant ‘Amen.’ When a flag had draped a coffin of a brother or a friend.

I thought of all the children, of the mothers and the wives, of fathers, sons and husbands With interrupted lives. I thought about a graveyard At the bottom of the sea. Of unmarked graves in Arlington. No, freedom isn’t free. Enjoy Your Freedom and God Bless Our Troops. When you read this, please stop for a moment and say a prayer for our servicemen. Of all the gifts you could give a U.S. Soldier, prayer is the very best one.

Price it realistically from the start

Due to the Internet, things have changed. Your home will be in the MLS, photos on different sites  and therefore your largest number of showings will occur in the first two to three weeks. Many buyers are plugged in electronically. So the minute something new pops up that meets their criteria, they want to see it.

Therefore we need to price the home competitively.

How you style the price is important. The Jones Family first marketed their home for $155,000. But lowering it to $150,000 meant the listing appeared within the computer search parameters that buyers commonly used in that price range, Jones says.

The result: A few weeks after the price change, they had a winning offer.

Be prepared to lose some money

The truth is that your house is worth what buyers are willing to pay. No more. “This is a matter of SUPPLY and DEMAND. That means many sellers should be prepared to lose some money or hang onto the home until the price rises.

Beware the agent who promises big profits. That person may just be after your business. Study the comparables and sales prices before you list with an agent.

Promotion, promotion, promotion

How do you pick the right agent? Ask the agents you interview: ” How will you reach the home’s target market?

You have to consider who your most likely buyers are for what you’re selling and cater to that group of people. For example,

Targeting 20-somethings who live on their smartphones?  You need to effectively access the networks your buyers are tapping to find their next home. One big trend: QR (or “quick response”) bar codes that allow smartphone users to access property information electronically, he says.

The typical starter home can also appeal to downsizing empty nesters.  To serve their needs, you might also want to have a phone number that instantly reaches someone who can provide details and answer questions, he says.

And don’t neglect the modern version of curb appeal: using lots of photos on real estate listing websites. However you market your house, you need a good number of clear, well-lit, professional-quality pictures that show your house at its best.

Notice of Default filings fell in May 2011 with a 4.0 percent drop resulting in the fewest foreclosure starts since October 2008 when SB 1137 resulted in a temporary halt in the Notice of Default process. More foreclosures were scheduled for sale at the courthouse steps in May with Notice of Trustee Sale filings up 16.6 percent from April, the first month-over-month increase this year. Notice of Trustee sales remain down year-over-year off by 9.0 percent. Cancellations of foreclosure sales dropped 24.3 percent compared to April after jumping 27.0 percent from March. Foreclosure sales on the courthouse steps were up from the prior month, with 3.4 percent more sales Back to Bank and a 4.1 percent increase in foreclosed properties Sold to 3rd Parties. The average Time to Foreclose continued a steady climb, increasing 10.3 percent to a new record of 344 days.

Third parties are reselling inventory more quickly, with the Time to Resell down 7.6 percent month-over-month to 134 days, the fewest number of days since September 2010 — likely due in part to a lack of inventory throughout much of California.