Jana Davis

Home Foreclosures and Abondoned Swimming Pools, Public Health Risk

Northridge Real Estate and Homes for sale in Los Angeles County
Brought to you by Jana Davis.
Visit our website www.JMTeam.com

This last year, the number of homes headed towards or in foreclosure has risen dramatically.  Along with this abandoned swimming pools is causing a major public health concern!  Empty houses can hide unmaintained swimming pools, spas, fountains, and bird baths, which can provide stagnant water for mosquitoes to breed in.

This increase in backyard breeding grounds may lead to a rise in West Nile virus transmissions.  As most residences of California know the West Nile virus is spread through the bite of infected mosquitoes and may led to debilitating health conditions.  In 2007, 380 human cases of West Nile were reported in California resulting in 21 deaths.  The virus is even more deadly to our bird population. 

We all need to be proactive in a defense against this disease transmission.  Here are some things we can do to protect ourselves.

To protect yourself avoid outdoor activities between dusk and dawn.  Wear long sleeve shirts and pants during these hours and apply an approved insect repellent that contains DEET, picaridin, or oil of lemon grass or eucalyptus.  Note that the natural repellents need to be reapplied every hour or so to remain effective.  Make sure your screens on your doors and windows are tight fitting.  Protect your pets also, contact your Vet for the best safe products for your dogs and cats.

The best protection is to eliminate the breeding grounds.  Eliminate all sources of standing water around your home and property.  Even 1 inch of standing water can produce mosquitoes.  Properly maintain ornamental ponds, pools and spas.

Be the noisy neighbor!  If you know or suspect that there is a pool or pond in your neighborhood not being maintained, call Vector Control and report it. 

You can contact the Greater Los Angeles County Vector Control District by calling (818) 364-9589 (Sylmar Branch) or (562) 944-9656 (Santa Fe Springs).  You can also visit their website at www.glacvcd.org.

The California Department of Public Health is also a great source for up-to-date information on West Nile virus.  Visit www.westnile.ca.gov.  If you find a dead bird or squirrel call 1-877-WNV-BIRD

Foreclosure Fallout - Homeless Pets

Northridge Real Estate and Homes for Sale in Los Angeles County Brought to you by your Relocation Specialists Jana Davis Visit my website: www.jmteam.com.

On the news last night the newscaster brought to light a secondary fallout of people giving up their homes.  They are giving up their pets as well.  Many people are just leaving them behind or turning them loose in the neighborhood.  I was not surprised to hear that cats and dogs are finding themselves homeless.  We have seen cats waiting patiently for their owners return sitting on the doorsteps of vacant homes.  It breaks my heart.

What caught my attention were the larger animals we don't see often at the animal shelters, horses, donkeys, goats, pigs.  The Riverside County and San Bernardino Animal shelters are full of barnyard type animals and need our help. 

If you would like to help rescue these animals or help with the care and upkeep until they are found homes, please contact:

San Bernardino County Animal Shelter
19777 Shelter Way
Devore, CA 92407
Phone: (909) 887-8055
http://www.sbcounty.gov/acc/shelt_srvs.htm

Riverside City/County Animal Shelter
5950 Wilderness Avenue
Riverside, CA 92504
(951) 358-7387 (PETS)
http://www.rcdas.org/

Los Angeles County Animal Control and Care
http://www.laalmanac.com/environment/ev25.htm

If you have found yourself in a position of losing your home and have pets here are some numbers that might be able to help you.

The Los Angeles Department of Animal Services showcases abandoned pets and furnishes lists of pet-friendly apartments. Go to laanimalservices.com.

Voice for the Animals offers lists of pet-friendly apartments and other services for foreclosed homeowners. Call 310-392-5153, or go to vftafoundation.org.

The Humane Society of the United States offers financial help for shelters and rescue groups to aid foreclosed families care for pets. Go to humanesociety.org/foreclosurepets.

***If you are looking to add a new friend to your family, please check the Animal Shelters first! 

Is Your Home Really on the Market?

Northridge Real Estate and Homes for Sale in Los Angeles County Brought to you by your Relocation Specialist Jana Davis Visit my website: www.jmteam.com.

I am currently working with several buyers.  I have been running into something very frustrating!  The lack of availability to view a home.  Now I don't know about you, but there is no way I would consider buying a home sight-unseen.  But this seems to be what people expect!

More and more homes are appearing on our Multiple Listing Service (MLS) without pictures!  Not even a front only picture!  Many of these homes are vacant, so don't tell me this is a privacy issue.  This is a lazy agent issue!  I have noticed my clients pass over these homes when they give me a list of the homes they want to see. 

A..  Make sure your home has plenty of pictures in the MLS.  The majority of today's buyers start home shopping on the Internet.

Last weekend we pulled up 9 homes that our clients were interested in seeing.  They gave us their list late Friday night, so I started calling agents and/or sellers Saturday morning to make our appointments.  Many of the listings were vacant, but I still needed to call the agents to get the combo for their lock box.  Most of the lock boxes in our area are electronic, so waiting to hear back from a busy agent to get a combo is most frustrating!  I left messages for 4 agents that morning and only 1 called me back.  Two of those properties were appointment owner.  Both the owners were too busy to allow us to show their homes, even with 4 hours notice.  One property was a drive by only, do not disturb tenants.  All offers to be faxed to agent.  HUH?  I can't even see an investor buying a tenant occupied property without viewing the condition of said property. Unless of course it was priced way below market and that was not the case with this property.

A.  Request that the agent put on an electronic lockbox preferably one connected with that areas board.  Silly to use an out of the area key box that will not allow the area agents to get in. 

B.  If your home is by appointment only you need to make sure you are available to show your home.  You cannot afford to turn down even 1 buyer from seeing your home in this market!  (Within reasonable viewing hours.)

Out of the 9 homes on our clients list, we were able to view 4.  In my opinion the other 5 homes are not really on the market.  If we cannot show, we cannot sell.

Feds cut Funds - How will this affect your interest rate?

Northridge Real Estate and Homes for Sale in Los Angeles County
Brought to you by Your Real Estate Team, Jana Davis and Marcia Demerjian
Visit our website: www.jmteam.com

Simplified there are three main types of mortgages: Fixed-Rate Mortgages; Adjustable-Rate Mortgages (ARMs); and Home Equity Loans (HELOs).

Let's look at each type and see how they might “benefit” from a Fed “bailout”.

First, Fixed-Rate Mortgages. Through a complex, sometimes proprietary formula, they are based upon long term Treasury rates.

As the recent Fed Cuts were deemed by the majority of bond markets to be inflationary, long-term Treasuries have fallen in price and risen in yield. This actually raises the costs of new Fixed-Rate Mortgages.

Adjustable-Rate Mortgages — often sold with low so-called, “teaser rates” — and most Home Equity Lines are geared to the free-market London Inter-bank Offered Rate for Euro dollars, or LIBOR.

While LIBOR is not tied to the Fed rate, it is influenced by it. This is because a Euro-dollar is a U.S. Dollar, but merely one held by non-U.S. residents, and this subjects it to largely free market forces, rather than directly to a central bank.

Therefore, a cut in the Fed rate should, over time, bring down the LIBOR.

The Fed cuts should benefit both ARMs and most HELOs.

But, as everybody knows and even our Treasury tells us, “Credit is being re-priced!” This means that consumers with lower credit ratings will have to pay more for their loans — often much more.

It appears that the Feds cutting funds will not bring down mortgage rates but rather stabilize those rates keeping them within affordable means.  But with the changes in the market it is more important then ever to shop around for your loans, just like you are shopping for that new home.  Each one of these loans have numerous programs and you will need to find the one you can most afford.

If you would like more information or names of outstanding lenders, please visit our website.  If you have any questions on a loan program you just might not understand please feel free to ask!

The Price Paid for Overpricing your Home

San Fernando Valley Real Estate and Homes for Sale in Los Angeles County
Brought to you by your Relocation Specialist Jana Davis
Visit our website:  www.jmteam.com

Many times sellers will contract with the agent that tells them their property is worth more then it really is.  If you are interviewing Real Estate Agents and they are coming in with a price lower than you thought, then wa la here comes someone that tells you it is worth a whole lot more, step back a second.  Why are the other agents telling you something different?  Is this one agent just so much better than the others or is this agent just telling you what they think you want to hear to get your listing? 

We have also had clients who want to "test the waters".  We show them the properties that have recently sold, that compare to theirs, and they want to "try" a higher price just to see if they can get it.  After all the house down the street sold for this higher price last year. 

Trust your professional.  They are in and out of homes everyday.  They have their fingers on the pulse of today's market, not last years.  They have your best interest at heart.  In today's market is it more important then ever to price your home correctly!

Here are six reasons you can not afford to overprice your property!

1.   IT TAKES LONGER TO SELL!

      Time is the enemy to sellers.  A buyer's first question when interested in a home is "how long has this property been on the market."  If it has been on for any length of time the next question will be "what's wrong with it?"

2.   YOU WILL HAVE LESS ACTIVITY!

      A home generates the most activity within the real estate community when it first goes on the market.  The number of showings are greatest in the first two weeks, but only if it is priced at real market value!

3.   YOU WILL MISS THE PEAK PERIOD TO SELL!

     Starting too high and dropping the price later misses the period of the greatest excitement from being new to the market.

4.    OVERPRICING NOW RESULTS IN UNDERPRICING LATER!

       Are you chasing the market drop?  A little to little, a little too late?  You have missed the peak period you will now have to drop the price below market value just to compete with the new, well priced listings.

5.    BUYERS WRITE OFFERS ON THE BEST PRICED HOMES!

       If you price your home too high, you will feel the frustration that comes from having the home on the market for extended periods of time without any realistic offers.

6.    YOUR HOME WILL HELP SELL OTHER HOMES!

      If your home is overpriced, it becomes a comparison to comparable homes in your neighborhood - making them look like a better deal!

Overpriced homes end up selling for below market prices, months later.  Mean while you are paying your mortgage, taxes, insurance, utilities, etc.  You are keeping your home in model home condition.  Your personal life is now centered around showings and Open Houses.  You don't dare go on vacation or have company stay with you.  Is all this worth "testing the market?"  PRICE YOUR HOME RIGHT AT THE BEGINNING, get it sold sooner than later! 

Short Sale Confusion

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We have a new animal in the real estate jungle, the Short Sale or Short Pay.  What exactly is this?  Is it something to be feared?  Should you stay away from these? 

The owner of a property has had a hardship that has prevented them from paying their mortgage payments.  The value of the property has dropped below what is needed to sell the property including the closing costs.  The property owner now has two choices, let the lender foreclosure on the property and face the credit disadvantages of having a foreclosure on their credit for 10 years, or contact the lender and arrange for a Short Sale.  With the Short Sale there will also be a credit ding, but it will show that the mortgage was paid as agreed.  In the Short Sale the lender will accept an offer and pay the costs to sell the property. 

** Note to seller: There may be some tax ramifications, so check with your CPA before you decide that you want to sell your home with a short sale. 

The Short Sale buyer needs to view this property the same as a regular sale in the aspects of the price you would like to offer.  If you really want to buy the property you will need to offer market value for the lender and the seller to accept your offer.  The property will be sold "as is" and you can and should take that consideration in your offer.  But don't try to "low ball".  This will not fly.  Make sure your agent runs the comparables for that neighborhood.  If similar size and condition properties are selling for $595,000 don't offer $495,000.  Don't think because someone is having a hardship and is desperate to sell their home that they will take a $100,000 hit.  A more reasonable offer that might fly would be around $575,000.  The lender will send out an appraiser and will know the value.  Don't be disappointed by trying to get that great deal!

You need to be patient.  The lenders are on a different time line than a normal sale.  But this does not mean that you can wait around to get your loan in place while waiting for lender approval.  Many times as soon as that approval is made the lender wants you to close ASAP!  So make sure you have all your ducks in a row!  Do get your inspections done as soon as escrow is opened.  You will know then what you are getting into.  Remember the property is being sold "as is" and that will mean everything is on you including government retro fitting and termite inspection and clearance.  Make sure you have a professional inspection!

Short Sales are not something to be afraid of, just be knowledgeable of what you are doing and most important make sure your real estate agent is knowledgeable too!

For more information on buying or selling a Short Sale property contact us right away.

Facing Foreclosure ~ Distressed Homeowners Do's & Don'ts

Northridge Real Estate and Homes for Sale in Los Angeles County
Brought to you by your Relocation Specialists Jana Davis
Visit my website:  www.jmteam.com

Distressed Homeowner’s do’s and don’ts

- Don't pay upfront fees to "foreclosure rescue" companies that promise to help you keep your property.  Upfront fees are illegal in the California. 

- Don't sign your deed over without consulting a lawyer you trust. Simply signing your deed over doesn't formally release you from your mortgage liability.

- Don't sign any contract to sell your home until you review the document with a lawyer.  (Private sale)

- Don't work with anyone who discourages you from contacting your mortgage company, refuses to put promises in writing, pressures you to sign paperwork you haven't had a chance to read thoroughly or fills out paperwork for you.

- Do Something Now! 

- Do Contact your lender at the first sign of financial trouble. See if the loan can be restructured or refinanced, or work out a repayment plan. Keep in mind that most lenders don't want to foreclose because it costs them money.

- Do Consider selling your home if you have any equity in it.  If your value falls short, check into a Short Sale.  If all other options fail, you also might consider deeding your property back to your mortgage company, also known as deed-in-lieu of foreclosure.

- Do Contact a reputable nonprofit credit and housing counselor if you are not able to work with your lender. For a list of approved housing counselors, call the U.S. Department of Housing and Urban Development at 800-569-4287 or go to http://www.hud.gov. Click on the foreclosure link. 

Change or Lose Your Home - Going Green

Northridge Real Estate and Homes for Sale in Los Angeles County
Brought to you by your Relocation Specialists Jana Davis
Visit our website:  www.jmteam.com

Change or Lose your Home (Planet Earth) – Go Green

Some scientists say that global warming and the destruction of our planet are not being affected by things we are doing, but a natural course.  Others are saying it is.  It doesn’t matter what side you take, Going Green can save you money.  I tend to believe that it can save our planet too!

Oprah did her second show on going Green today.  Instead of trying to scare us into action she had guests on the show to give us ideas on simple things we can do to make a difference, for the planet and for our pocketbook.  After watching her show I thought I might put some ideas out there and perhaps get some new ones from you.  If you would like to see all the ideas go to Oprah.com

Here are just a few of the ideas:

SAVE THE TREES:

What do you say at the Grocery store when they ask you “paper or plastic”, NEITHER – They are giving you a choice of cutting down trees or spoiling our soil and air.  What to do?  Bring your own cloth bags for both your groceries and produce.  You can make your own or buy them.  Oprah is making them available on her website.

Buy only recycled paper products.  Yes, toilet paper, paper towels, tissue, etc. comes in recycled paper.  Use less.  Use 1 less paper napkin a day.  Sounds silly but you would be surprised how many trees you can save by just doing that.  Better yet, don’t use paper napkins at all.  Use less paper towels or how about going back to cleaning cloths (usually made from old t-shirts, diapers, etc),  Buy the washable ones instead?  Hand towels work well for drying your hands too!

Stop your junk snail mail.  This tip came from Matt Damon – there is a company that for 10 cents a day will all but stop your junk mail but will also plant trees, go to www.greendimes.com   For those of us that do advertising mailers we can switch to recycled paper for our postcards, letters, etc.

Don’t take receipts at ATM or Gas Stations unless you plan to keep them for tax reasons.  Most people click yes then just throw them away.  CLICK NO.

Recycle your newspapers and magazines.  This goes without saying.  Here in Los Angeles we have a special blue trash can just for this purpose.  Besides I am thinking this must be where they get the paper to make the recycled paper products.

SAVE YOUR MONEY:

Change your light bulbs – use only CFL light bulbs.  Did you know that most of the energy made in the USA is from burning coal?  Where does the smoke go?  Pollutes our air.  Bet you it is worse than second hand cigarette smoke too!  So cut down on the energy use and it will cut down on the production. 

Residual power.  Did you know if you leave your electronics and appliances plugged in 24/7 that they are drawing residual power?  Did you know that Residual power makes up about 40% of your power bill?  Yes I was shocked too!  What to do?  Unplug any items not being used, toaster, hairdryer, razor, cell phone charger, etc.  Plug them back in only when you need them.  For larger items you can get something called a Smart Strip.  This is a serge protector that you can plug in your entertainment center electronics, computers, etc. and you simply turn off the strip when you leave the house.  You will be sure that way that your electronics are not drawing unnecessary power.

I know you have heard of this one.  Buy only energy saving appliances.  When it is time to buy a new dishwasher, washing machine, air conditioner, furnace, educate yourself as to what the energy saving numbers mean.  Consumer Reports can help you with this.  Then buy the one that is best. 

Set your thermostat at 78 in the summer and 68 in the winter.  Service your equipment 3 times a year!  You would be surprised how much energy is wasted by a dirty filter. 

Wash your clothes in cold water and clean the lint filter in your dryer with each load. 

Some energy companies will come out and check your home giving you a check list of things you can do to save energy.  Saving you money now, an energy efficient home can get you more money in the future when you sell.  An energy efficient home will also be more appealing to a buyer!  That will lead to more money and a faster sale!  After all who doesn’t like saving money!

The guests on Oprah's show , said if you would just do 1 item it can make a huge difference.  I don’t think 1 item will hurt anyone.  I have already implemented a few of these and plan to do more.  After all I like saving money too! 

Do you have any “Green” ideas you can share with us?  Do you have any stories on how your changes have saved you time or money?  Please share with us.  I think we all can make a difference! 

War or Peace?

Northridge Real Estate and Homes for Sale in Los Angeles County
Brought to you by your Relocation Specialists Jana Davis
Visit our website:  www.jmteam.com

Being in the real estate field since 1991, I have seen some pretty interesting markets and huge changes in my neck of the woods.  But something has been happening in the last few years that has me stumped!  And at times wanting to shake my clients and say "What are you thinking!"  I am calling this the Real Estate War!  What in the heck am I talking about? 

Years ago a client would call a few RE Agents and pick someone they felt comfortable to work with.  That client would also listen to the advise their professional would give, i.e. selling price, marketing, etc.  or on the buyers side selling price, neighborhood amenities, etc.  The bargaining process has always been in place no matter what kind of market place we were in and usually ended up with a mutual agreement and a sale.  Today's buyers and sellers seem to think this bargaining process is a win or lose situation instead of a win win!  I have seen buyers walk away from the perfect home, that met all their needs, for as little as a $1000.00 difference (that is about $6 more in payments.)  Instead they have walked away, wasted all the time and energy, just to start the process of finding the perfect house, in the perfect neighborhood all over again!  I have also had sellers refuse to even start the bargaining process because they felt insulted by a low offer, only to have the house sit on the market for months before another offer came in.   When I have pointed out what they are losing, I have been given the impression that I am now the enemy!  I have heard of clients walking away from their agents also because "they were not on their side!"

What CAN we do as Real Estate Professionals to help our clients stop this destructive process?