All posts by qgailr

Unexpected IRS Refund

Posted on 19. January 2012 13:04 by qgailr

If you receive an unsolicited email that appears to be from the IRS requesting that you file a "tax refund request," do not fall victim to this identity theft scheme.

Numerous people are receiving unsolicited email informing them that a $9,390.55 IRS tax refund is due to them if they complete a tax refund request form. The email code will be forged to appear as if it originated from a trusted source, usually the IRS or an IRS tax preparer, but viewing the "message header" or "message source" will reveal its origin to be something else, and the link will not lead to a trusted domain, but one controlled by identity theft criminals.

If you file a tax return and a refund is due, you will automatically receive your refund. You will never be contacted by the IRS, and there is no tax refund request form. Never disclose personal information to any unsolicited inquiry, as compelling as the story may be.

If you have questions or concerns about any IRS tax refund you may have due, you should access the official IRS "Where's My Refund" online application at the following destination: http://www.irs.gov/individuals/article/0,,id=96596,00.html.

Tags:

Weekly Fraud Alert: DRE Issues Consumer Advice

Posted on 6. January 2012 14:12 by qgailr

The California Dept. of Real Estate recently issued the following practical advice to prevent consumers from falling victim to a scam:

Never pay an upfront fee for loan modification services. Such fees are illegal.
Watch out for promises of guaranteed success. No one can promise that a loan modification will be successful.
Ask questions, get referrals from people you know and trust, and always remember the following: If it seems too good to be true, it probably is not true.
Contact a HUD-approved counseling agency that can provide loan modification services for free.
If you have been a victim of a loan modification scam, report it to the DRE, the FTC and the Attorney General.

Tags:

Home Remodeling Activity Reaches Record High In October

Posted on 22. December 2011 09:08 by qgailr

The BuildFax residential remodeling index reached a record high in October, extending its 23-month climb another month, as homeowners opt to stay put and remodel rather than buy a new home.

The index, which began in 2004, rose to 147.6, up 40 percent from 105.8 in October 2010. The index stood at 141.4 in September, which was also a high.

Joe Emison, vice president of research and development at BuildFax, said while the number of remodeling projects is rising, the average estimated construction cost of each project is falling.

"We see that as an indication that people are doing more comfort remodels, meaning they're modeling to make their homes more comfortable as opposed to flipping it," he said.

The company found the average project cost of a major remodeling project for 2011 was $39,460, down from an index high of $43,808 in 2004. The average project cost of a minor remodeling project in 2011 was $10,968, down from an index high of $12,623 in 2006.

Tags:

Facebook's Chrisrtmas Party Extravaganza

Posted on 15. December 2011 11:33 by qgailr

Rossetti Realty Group attended Facebook's "Christmas Party" last night. We met at their new Epic cafe and enjoyed mingling with business people in the area and FB employees. We enjoyed Argentinean food cooked by their Gourmet Chef. One of the ways Facebook is bringing the community together is what they call "Facebucks." It is a Visa debit card worth $25.00 to spend in the downtown area of Menlo Park. Each FB employee will be given a card and when we left the party, each one of us received a card...Thanks Facebook!!

Tags:

Fannie, Freddie Suspend Evictions For The Holidays.

Posted on 9. December 2011 13:32 by qgailr

Fannie Mae and Freddie Mac announced they will suspend all evictions involving foreclosed occupied single family and 2-4 unit properties with mortgages owned by the GSEs from Dec. 19, 2011-Jan. 2, 2012.

The suspension will apply only to eviction lockouts related to Freddie Mac- and Fannie Mae-owned REO properties and will not affect other pre- or post-foreclosure processes. During this period, legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be permitted to remain in the home.

Tags:

Consumer Confidence Improves In November.

Posted on 5. December 2011 12:42 by qgailr

The Conference Board Consumer Confidence Index, which had declined in October, improved in November. The Index now stands at 56.0 (1985=100), up from 40.9 in October. The Present Situation Index increased to 38.3 from 27.1. The Expectations Index rose to 67.8 from 50.0.

Consumers' appraisal of present-day conditions improved in November. Those stating business conditions are "good" increased to 13.3 percent from 11.2 percent, while those stating business conditions are "bad" declined to 38.2 percent from 43.7 percent. Consumers' appraisal of the labor market was also more upbeat. Those claiming jobs are "plentiful" increased to 5.8 percent from 3.6 percent, while those saying jobs are "hard to get" decreased to 42.1 percent from 46.9 percent.

Tags:

Senate Votes To Extend Loan Limits

Posted on 27. October 2011 08:39 by qgailr

Late last week, the Senate passed an amendment to an appropriation bill that would reinstate the conforming loan limits to $729,750 through December 2013. The Senate and House now are working out the differences between the Senate and the House bill, which the House passed earlier this year. C.A.R. also is working with the California Congressional Delegation to ensure this provision is included in the final bill.

Tags:

HARP Refinance Program Expanded

Posted on 25. October 2011 09:52 by qgailr

Borrowers who are current on their home loans may be able to refinance for lower interest rates, even if they are seriously upside down. The Federal Housing Finance Agency (FHFA) announced today that it will broaden the scope of the Home Affordable Refinance Program (HARP) by removing the current 125 percent loan-to-value cap for fixed-rate mortgages backed by Fannie Mae and Freddie Mac. Other program enhancements include, among other things, reducing certain fees, eliminating the need for a new property appraisal if the FHFA has a reliable automated valuation model (AVM) estimate, and extending HARP until the end of 2013. New federal guidelines for the HARP changes should be released to mortgage lenders and servicers by November 15.

Tags:

Current Loan Limits Expire This Week!

Posted on 29. September 2011 09:05 by qgailr

Current conforming loan limits are scheduled to expire Friday, Sept. 30. The maximum FHA, Fannie Mae, and Freddie Mac conforming loan limit will decline to $625,500 beginning Oct. 1, 2011, from the current $729,750 limit, though the majority of counties will fall far below the $625,500 maximum. The conforming loan limit determines the maximum size of a mortgage that FHA, Fannie Mae, and Freddie Mac government-sponsored enterprises (GSEs) can buy or guarantee. Non-conforming or jumbo loans typically carry a higher mortgage interest rate than a conforming loan and require a higher down payment, increasing the monthly payment and negatively impacting housing affordability for California home buyers.

Tags:

27 Tips You Should Know To Get Your Menlo Park Home Sold Fast and For Top Dollar

Posted on 8. September 2011 10:51 by qgailr

"...discover how to protect and capitalize on your most important investment.."

Because your home may well be your largest asset, selling it is probably one of the most important decisions you will make in your life. To better understand the home selling process, a guide has been prepared from current industry insider reports. Through these 27 tips you will discover how to protect and capitalize on your most important investment, reduce stress, be in control of your situation, and make the most profit possible.

1. Understand Why You Are Selling Your Home

Your motivation to sell is the determining factor as to how you will approach the process. It affects everything from what you set your asking price at to how much time, money and effort you're willing to invest in order to prepare your home for sale. For example, if your goal is for a quick sale, this would determine one approach. If you want to maximize your profit, the sales process might take longer thus determining a different approach.

2. Keep the Reason(s) You are Selling to Yourself

The reason(s) you are selling your home will affect the way you negotiate its sale. By keeping this to yourself you don't provide ammunition to your prospective buyers. For example, should they learn that you must move quickly, you could be placed at a disadvantage in the negotiation process. When asked, simply say that your housing needs have changed. Remember, the reason( s) you are selling is only for you to know .

3. Before Setting a Price - Do Your Homework

When you set your price, you make buyers aware of the absolute maximum they have to pay for your home. As a seller, you will want to get a selling price as close to the list price as possible. If you start out by pricing too high you run the risk of not being taken seriously by buyers and their agents. If you are pricing too low it can result in selling for much less than you were hoping for.

Setting Your Home's Sale Price

If You Live in a Subdivision - If your home is comprised of similar or identical floor plans, built in the same period, simply look at recent sales in your neighborhood subdivision to give you a good idea of what your home is worth.

If You Live in An Older Neighborhood - As neighborhoods change over time each home may be different in minor or substantial ways and you will probably find that there aren't many homes truly comparable to your own. In this case you may want to consider seeking a Realtor ® to help you with the pricing process.

If You Decide to Sell On Your Own - A good way to establish a value is to look at homes that have sold in your neighborhood within the past 6 months, including those now on the market. This is how prospective buyers will assess the worth of your home. Also a trip to City Hall can provide you with home sale information in its public records, for most communities.

4. Do Some "Home Shopping" Yourself

The best way to learn about your competition and discover what turns buyers off is to check out other open houses. Note floor plans, condition, appearance, size of lot, location and other features. Particularly note, not only the asking prices but what they are actually selling for. Remember, if you're serious about getting your home sold fast, don't price it higher than your neighbor's.

Tags: