We are also currently working on our first HAFA short sales, which we expect will move quickly as well thanks to the HAFA government guidelines which require the banks to approve or reject short sale offers in no more than 10 business days.

With short sales becoming the main stream real estate sell, it is a good thing that banks like BofA have grasped this concept and are helping to move the process on as quickly as possible. Wells Fargo and Wachovia are also getting much easier to work with and getting approvals at a faster rate.

If you or someone you know are facing a foreclosure, let Newton3 Real Estate Services help through the process. Save your credit and move out on your terms not the banks.

Visit: ShortSellOption.com for more information regarding a short sale

Newton3 Real Estate Services

This Micorsite is also great for the current and future buyer that wants to learn more about the Pacific Highlands Ranch community. It will also help the buyer to know what to expect for the current market and prices of the homes in the neighborhood.

View The Microsite Here:    

If you have any questions about the community of Pacific Highlands Ranch please call Newton3 Real Estate Services for more information.  (619)987-6987 . If you currently live in PHR and would like a detailed market snapshot of your property please give me a call!

Dave Norberg a business associate and myself met with Daniel Zia and his wife to discuss the sale of Daniel’s wifes grandparents home on Mt. Helix. Because Daniels business is so far from San Diego he wanted to reach out and let an Agent who knows the San Diego Market and the Mt. Helix market help with the sale of the home. Daniel interviewed 4 agents in the area, we were last so I think we have a great shot of helping Daniel and his Wife Sarah List the Summit Dr. Home on Mt. Helix and sell it quickly.

If you would be interested in buying this property on Mt. Helix please give me a call so I can give you the details of the property. (619)987-6987 This is a tradtional equity sale, not an REO, or Short Sale, so it will be priced to sell, and it will sell quickly. Please call me at (619)987-6987 to get information on the home today!

Please remember if  you are looking for property in the Santa Barbara area contact the ZiaGroup!

Surely you have heard people use the names “Realtor” and “real estate agent” interchangeably. But did you know that not all agents are Realtors®? Let me explain what a Realtor® can do for you.

Both “agents” and “realtors” are licensed professionals. The term “Realtor” is a registered trademark that means the agent is a member of the National Association of Realtors (NAR). This NAR was formed in 1908 and has grown to over 1 million members.

Every year Realtors pay membership dues, which are spent well. They go towards advocating for issues that are important to the association such as marketing and economic research, helping the public understand the value of working with a realtor, helping Realtors understand their industry and improve their business and obviously supporting Realtors at the local and state levels.

Once an agent becomes a Realtor, Realtor, he or she is able to access an abundance of statistical information about markets and sales, all of which can be used to your advantage during the home buying or selling process. They can look up information in regards to your local community, and even on issues such as zoning, schools, and utilities.

Another plus to working with a Realtor? It ensures that your agent follows a code of ethics, the ones set down by the NAR itself.

NAR principles, put in easy to understand terms, are: 

• Loyalty to clients 
• Fiduciary (legal) duty to clients 
• Cooperation with competitors 
• Truthfulness in statements and advertising; and non-interference in exclusive relationships that other REALTORS® have with their clients.

Realtors have access to some of the best properties as well. Realtors love their jobs!

For more information please call Alvin Newton (619)987-6987

The positive impact of the federal home buyer tax credit is clear. Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to C.A.R. research conducted last year.
 
The state’s previous home buyer tax credit program was so successful that it ran out of tax credits by the end of June 2009, eight months before it was set to expire and just as housing markets appeared to be turning a corner.  Unlike last year’s legislation, AB 183 adds a tax credit for the purchase of an existing home by a first-time home buyer.
AB 183 will significantly contribute to the effort to stimulate jobs-creation within California’s housing market by helping to incentivize first-time home buyers to purchase homes that have been abandoned, foreclosed upon and returned to the lender, or have been sitting on the market for extended periods of time. It is these homes that will require substantial rehabilitation by the new owners, which will in turn generate a tremendous increase in jobs and accessory purchases connected to home improvement activities.
 
Your Association’s efforts at the state and federal level to help protect private property rights and your right to conduct business are ongoing. This promises to be another busy year in the state legislature and in Washington, D.C. 

               (619)987-6987

  Foreclosure Follows You - Homeowners will always have to disclose that they have had a foreclosure on any mortgage application and many job applications that they submit in the future.  This can have an adverse affect on their future mortgage rates.  This is a credit item that is asked about specifically in credit inquiries.  There is no seven year time limit on this item.

Credit Score Negative Impact - Credit scores will be lowered by 300 plus points (per loan).  Along with bankruptcy, a foreclosure is one of the most devastating credit issues you can have in relation to future credit availability.

Ineligibility For A Government Insured Loan - The homeowner will be ineligible for a government insured loan for 5 – 7 years (only 2 years in a short sale).  A foreclosure is the one credit report item that is almost impossible to have repaired.

Possibility of Deficiency Judgment - Your lender can seek a deficiency judgment against you and collect any amount they do not recuperate at bank sale.

Negative in Employment Credit Checks – Many employers run credit checks on prospective employees.  Foreclosure is one of the top items that will put a potential new hire in jeopardy.

Potentially Damaging in Current Employment – Many current employers run credit checks.  A foreclosure can put a current position in jeopardy.

Negative on Security Clearances – Security clearances and government positions including but not limited to military and law enforcement can be jeopardized by a foreclosure.  Revocation of security clearance can result in job reassignment or loss.

Lower Tax Liability than Foreclosure – The tax liability in a foreclosure may be much higher than in a properly negotiated short sale since canceled debt will be higher in a foreclosure.

You Have Alternatives – As your experts, we will explore every option with you and work toward the best resolution.

Do Everything You Can – There will come a time where your current financial troubles will pass.  You will feel much better knowing that you did everything you could to avoid this devastating financial consequence that so many people face today.

 Please Visit ShortSellOption.com For More Information!

or call 619.987.6987

HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.

HAFA is a complex program, with 43 pages of guidelines and forms, designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure. HAFA:

•• Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home.
•• Uses borrower financial and hardship information already collected in connection with consideration of a loan modification.
•• Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).
•• Prohibits the servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement (up to 6 percent).
•• Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed).
•• Uses standard processes, documents, and timeframes/deadlines.
•• Provides financial incentives: $1,500 for borrower relocation assistance; $1,000 for servicers to cover administrative and processing costs; and up to $1,000 for investors for allowing a total of up to $3,000 in short sale proceeds to be distributed to subordinate lien holders (on a one-for-three matching basis).
•• Requires all servicers participating in HAMP to implement HAFA in accordance with their own written policy, consistent with investor guidelines. The policy may include factors such as the severity of the potential loss, local markets, timing of pending foreclosure actions, and borrower motivation and cooperation.
The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on December 31, 2012.

To find out more about HAFA  and to see if you qualify for a Short Sale please visit Newton3.com!

Fixing mold damage can be one of the most expensive repairs you’ll ever perform on your home, so here’s how to prevent it!

Setting your thermostat at about 78 degrees F provides the optimal temperature for preventing moisture problems. Image: Image: Tetra Images/Getty Image

It’s no wonder homeowners fear a mold diagnosis: Besides the health problems mold causes, the cost of an extensive mold remediation project can reach five figures.

You can’t totally eliminate mold from your home no matter how vigilant you are, because mold spores are always present in indoor air, particularly in more humid areas of the country such as the Southeast and Northwest. What you can control—by spending an hour or two inspecting key areas of your house and investing in a humidity monitor—is the moisture that allows spores to colonize.

Eliminate clutter

1. Pare down your stuff. “Clutter creates microclimates where humidity is higher than the ambient humidity in the room,” says Jason Yost, owner of Solutions Indoor Environmental Consulting in Terre Haute, Ind. “Mold develops because clutter blocks airflow, and your HVAC system can’t process air properly.”

2.  Don’t obstruct air return and supply grilles with furniture or draperies. Surfaces adjacent to grilles cool to temperatures well below your thermostat setting and well below the dew point for the room, meaning condensation is likely.

Control the indoor climate

Mold problems often emerge in summer, when outside air tends to be humid. (If you have a window air conditioning unit, baseboard heating, or other localized devices and suspect you have moisture problems, consult an HVAC or mold inspection professional for guidance.)

3. Keep the thermostat set at a moderate level in summer. Set it too high, and the air conditioner won’t run often enough to dehumidify your air effectively; set it too low, and you create cold surfaces where water vapor can condense.

To maximize energy efficiency, most electric utilities recommend setting the thermostat around 78 degrees F; this setting is also optimal for preventing moisture problems.

4. Never keep windows or doors open while the air conditioner is on. This introduces humid outside air into a sharply cooler environment, which can cause condensation. When you go on vacation, don’t bump the thermostat up to 85 degrees—or, worse, turn the air conditioning off entirely. That tiny utility bill savings would be dwarfed by the cost of a mold remediation if your indoor air weren’t sufficiently dehumidified. (Eighty degrees is recommended; if you have a window unit, leave it on at the lowest setting.)

5. Make sure your air-conditioning unit is properly sized for your house. Some HVAC contractors recommend oversized units for quick cooling, but this might remove less humidity from the air. Consult Energy Star to find out what size unit you really need.

6. Supplement an old air-conditioning unit that isn’t removing as much moisture with a dehumidifier. 

Monitor moisture

To see if you need a dehumidifier, measure humidity—the amount of water vapor in the air compared with the total amount it can hold. Start with an under-$20 monitor from various online retailers, Yost says. More sophisticated and expensive models—ranging from $45 to $300—have remote sensors that simultaneously track several rooms all over the house, which is useful if you have basements, crawl spaces, or other areas that you don’t visit often.

An ideal indoor reading is between 35% and 50% relative humidity; in very humid climates in the height of summer, you may get readings closer to 55%. But if you reach 60% relative humidity, it’s time to look for the source of the moisture. Above 70% relative humidity, certain species of mold can begin growing on surfaces even if water isn’t visible.

7. If you get a high humidity reading, check your air conditioner first.

• Is it set to the proper temperature?
• Is it cycling on and off periodically?
• Does it blow cold air when it reaches the set point?

8. Check that the condensate drain pipe (the narrow white pipe sticking out the side) is dripping regularly. If it isn’t, the pipe is blocked, water may be accumulating inside the unit, or the unit isn’t working correctly. If you suspect a problem, call your HVAC professional.

9. If the air conditioner isn’t the issue, look for signs of standing water or chronically damp soil in your crawl space or basement or near your foundation.

10. If you have a crawl space, make sure you have a plastic vapor barrier covering the dirt floor and that it’s intact. Moisture below the house affects the humidity indoors by infiltrating unsealed penetration points, such as where electrical conduits and plumbing enter the house. Water can even diffuse through plywood and finished flooring—and you won’t necessarily see wet spots when this happens.

Find a qualified pro

If you can’t find the moisture problem on your own, or you aren’t sure how to correct a problem you do find, it’s a good idea to call a home inspector or indoor air quality consultant. Look for credentials from a respected industry organization, such as the American Society of Home Inspectors or the Indoor Air Quality Association. A house call will likely run $250 or more.

Keep in mind the mold field is largely unregulated, so there are few industry norms for pricing.

Mold and insurance

Mold remediation isn’t necessarily covered by homeowners insurance, which typically pays only if the problem results from a sudden emergency already covered on your policy, such as a burst pipe. Insurance usually doesn’t pay if the problem results from deferred maintenance or floodwaters (unless you have flood insurance).

Water emergencies

A note about emergency situations: If you have a flood or a leaking or burst pipe, act immediately to remove the water and run a dehumidifier—don’t wait for an insurance adjuster, inspector, or water extraction/mold remediation company to arrive. But take photos or video of any damage for your insurer.

The main thing to remember is to monitor moisture before problems develop—and if something seems wrong, don’t hesitate to call for professional help.

Karin Beuerlein has covered home improvement and green living topics extensively for HGTV.com, FineLiving.com, and FrontDoor.com. In more than a decade of freelancing, she’s also written for dozens of national and regional publications, including Better Homes & Gardens and the Chicago Tribune. She and her husband started married life by remodeling the house they were living in. They still have both the marriage and the house, no small feat.