There is a new buzzword being used in today's real estate market, that term is Short Pay Refinance.
Most of you have not heard about this. It is a new approach were a new lender negotiates on your behalf with your current lender to pay less than the full amount for the pay off of the existi...
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Carmen Isais - Realtor
Keller Williams, Davis
My work philosophy is simple. I approach each transaction with dedication, integrity and a sense of humor. The latter always comes in handy.
Those who have ultimately decided to work with me, know me to be a good listener, a sage advisor...
There is a new buzzword being used in today’s real estate market, that term is Short Pay Refinance.
Most of you have not heard about this. It is a new approach were a new lender negotiates on your behalf with your current lender to pay less than the full amount for the pay off of the existing loan. This is not a loan re-modification. This is a new loan with new terms and lower balance.
This is an amazing concept, basically you get to buy your home again at the current market value.
For more information call Carmen Isais at Keller William’s Realty in Davis : 530.601.1003 or email: carmen@focusondavis.com
If you are selling your Davis home, you should be concerned with your listing agent’s practice on presenting offers. Fellow Realtor, Renee Porsia wrote this very informative piece on Listing Realtor practices and questioned whether your Realtor was showing you every offer that came across his or her desk. Ms. Porsia works in Pennsylvania, where perhaps the laws are different than here in California. She writes the piece and approaches the topic as a matter of good practice.
California Real Estatelaw is different, however. Here, Realtors have a fiduciary responsibility to their clients and this includes bringing them any and all offers a home. Despite this fact, I have personally seen Realtors sit a on offers for various reasons… namely they themselves are hoping for a better offer, or they are certain their client won’t accept the offer and don’t want to risk discouraging them by bringing less than stellar offers to the table.
As a matter of law and simple ethics, I always present all offers to my clients and let them make up their own mind. Being the bearer of bad news isn’t always easy, but sometimes, even a low offer is welcome of necessary, and followed through with.
To read more about how missing knowledge of offers can effect you as a buyer read Renee Porsi’s article directly. If you are selling a home in Davis, Winters, Woodland or Sacramento and you have any questions about seller’s rights and the fiduciary responsibility owed them under California law, please do not hesitate in contacting me at 530.601.1003 or via email at carmen@focusondavis.com.
Green remodeling can save you money on utilities, increase the resale value, and provide a healthy, environmentally conscious home. The following quotes are from an article in the September 2008 issue of California Real Estate. Mike Hall, president and CEO of Berkeley-based solar company Borrego Solar was quoted as saying,
“For every 1,000 watts of power in a home that’s coming from PV (photovoltaic panels), it can add $20,000 to the resale value of your home.”
Chris Bartle of Green Key Real Estate was quoted,
“If you’re comparing [green building] to a super-cheap Home Depot remodel, then yeah, it’s more expensive,” he explains. But if you’re comparing it to a high-end remodel with granite counter tops and things like that, then a lot of times it’s actually cheaper.”
The opening of “Green” building supply companies is evidence of the increasing popularity of Green remodeling. Davis has it’s own eco-friendly home improvement store called Casa Verde. There are also recycling options for building materials. Sacramento’s Habitat for Humanity has a building supply store called the ReStore offering surplus building supplies donated to the store and sold at discount prices. Another web-site resource is www.thereusepeople.org. They are a non-profit organization that provides environmentally responsible demolition services and sells reusable building materials.
If you would like more information on green building and learn about the “GreenPointed Rated” system, check out www.builditgreen.org
If you are actively looking to buy a home in the city of Davis, we’ve probably met. I’m out there, holding Open Homes almost every weekend and I get to meet a lot of great people, including First Time Home Buyers.
Many of the first time homebuyers I speak with are still unaware of how important your credit score plays in the loan and home buying process. Some comments I hear are that credit is not important if you bring home a big paycheck, credit is less important than earning potential, or that certainly their credit is good because they have so much of it. All of these statements, are flat out wrong.
The best thing I can do as a Realtor (read: I am not a credit and loan specialist), is set the record straight where I can, and send them to trusted Mortage and Loan experts.
I also like to share good resources when I find them…
The Ad Council in cooperation with the Civil Rights Education Fund and others have put together a no-nonsense website explaining how credit works, how to damage it, and how to fix your credit too. It has a clever little name too, Credit Fairy.org. Take a look and send me feedback. But, if you have a specific question, feel free to ASK ME, Carmen Isais. I have answers or know how to get them.
Three bedroom, two bath home situated in desirable, South Cape, in Davis. Smart floor plan includes a downstairs master bedroom and open layout. Fireplace, access to association pool and easy to maintain landscaping. Close to schools, shopping and bus lines.
Enjoyed your summer vacation? Thinking of investing in your local hotspot, but wondering if it is a wise choice? There are ways to comfortably afford the vacation home of your dreams while making smart financial choices. A vacation home can be a very wise investment when the proper financing methods are utilized.
Here are a few tips and strategies:
If you have multiple location choices, make sure you are working with a Real Estate Professional who is a specialist in the location you want to purchase in. Also, make sure you are working with a Certified Mortgage Advisor who has experience with Investment and vaction homes:
From an investment perspective:
Which area is likely to appreciate more in value over the next several years?
Which area is more likely to enable you to rent out the home when you are not using it (if you desire to do so)?
From a lifestyle perspective:
Which area provides more amenities and lifestyle benefits?
Which area is a better value in terms of living space and upgrades?
If you plan on renting out the home when you are not utilizing it for personal use, make sure you are working with a professional to help you evaluate the cash flow implications. Additionally, by working as a team with your CPA, Mortgage Advisor and Real Estate professional they can help you determine the tax consequences of your decisions.
Know your credit score! You may be able to get a better mortgage rate and more favorable loan terms by restructuring some of your balances on credit cards, car loans, etc. a Mortgage Advisor can help you correct errors on your credit report and determine which balances to restructure or pay off in order to improve your credit score.
Know how much you can spend and determine how much you can afford. Your Mortgage Advisor can help you:
Finance your vacation home based on your monthly payment comfort level
Determine how much cash to use as your down payment and where to get these funds
Understand your before and after-tax monthly payments
Restructure some other debt you may have to free up more monthly cash flow that enables you to improve your vacation home buying budget financing
Determine whether to rent or buy a vacation home based on timeframe, budget and local market conditions. A Mortgage Advisor can help you run the numbers to determine if it is better for you to rent or buy a vacation home based on your individual circumstances.
Don’t get caught in the “pre-approval” / “pre-qualification” trap. It is always better to get a full approval / loan commitment from a Mortgage Advisor before you even start looking for a vacation home. Many mortgage brokers and lenders will give you a “pre-approval” or “pre-qualification”, but these are often meaningless. What you really need is a bona fide commitment from a mortgage lender that you are in fact approved for financing.
Don’t be scared by “Housing Bubble” misinformation. For the last four years, the national media has been scaring potential home buyers with continuous chatter about a so-called “housing bubble”. For the last four years, the national media has been wrong. It is always wise to base your decision to buy or not to buy on fact, not emotional hype.
Please feel free to give me a call and I would be happy to help you evaluate your options to purchase your new vacation. home.
There is a new buzzword being used in today’s real estate market, that term is Short Pay Refinance. 
If you are selling your Davis home, you should be concerned with your ![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=b2a845e9-606c-4992-9c72-b40556d68708)
Green remodeling can save you money on utilities, increase the resale value, and provide a healthy, environmentally conscious home. The following quotes are from an article in the September 2008 issue of California Real Estate. Mike Hall, president and CEO of Berkeley-based solar company Borrego Solar was quoted as saying,
If you are actively looking to buy a home in the city of Davis, we’ve probably met. I’m out there, holding 
Enjoyed your summer vacation? Thinking of investing in your local hotspot, but wondering if it is a wise choice? There are ways to comfortably afford the vacation home of your dreams while making smart financial choices. A vacation home can be a very wise investment when the proper financing methods are utilized.