The National Association of Home Builders (NAHB) and Wells Fargo Housing Opportunity Index (HOI) report that nearly 76% of new and existing homes sold in the last quarter of 2011 could have easily been purchased by buyers earning $64,200 (the national median income). The previous quarter showed nearly 73% of homes in that range, marking a 3% increase.

Interest rates have been at record lows and change weekly on 30-year loans with Freddie Mac reporting an average of 3.87% on February 16th. 15-year loans were averaging 3.16%.

Click on The NAHB/Wells Fargo Housing Opportunity Index: History of Least and Most Affordable Areas spreadsheet located here to download the list of historical data on the most and least affordable areas in your community or browse their website to learn more.

Choosing the right Realtor DOES make a difference in Sonora CA and Twain Harte

Heidi The Home Hunter!

(209) 743-3010

 Mortgage lenders are in the news again, only this time it’s not Freddie Mac and Fannie Mae in the hot seat. If you purchased a home through GMAC (now Ally Financial), Bank of America, JPMorgan Chase, or Citibank, you may want to take note. Last week’s settlement of $25 billion is proposed to aid homeowners who may have been subject to “robo-signing,” in loan and foreclosure practices. “Robo-signing” refers to the practice of mortgage providers signing or stamping documents without verifying information. If you currently have a loan or experienced a foreclosure with one of these lenders, you may be eligible to receive assistance.

The new agreement, authorized in 49 states (not Oklahoma), strengthens the review process on loan modifications and foreclosures by requiring application reviews prior to beginning the foreclosure process. Excessive fees, insurance costs, and appraisal rates also received limits, and the agreement also provided avenues for principal reduction for struggling homeowners. This agreement does not apply to any FHA, Freddie Mac or Fannie Mae loans or foreclosures.

Homeowners with a mortgage on their primary home that represent a 20 percent or more reduction on property value with a loan balance of less than $417,000 are targeted for these funds, although eligibility will be determined individually. Homeowners whose mortgage rates are above 5.25 percent may be able to refinance to lower interest rates, and homeowners experiencing unemployment or considering short sales may receive aid, as well.

Contact your lender directly to see if you are eligible or watch for a notification letter from your lender within the next six months. Incentives were provided to lenders who completed settlements within 12 months, and funds must be dispersed within three years. Click here to see actual details of the agreement.

Home ownership can be a heavy responsibility at times… especially when times are tough. It can be challenging to find help when times are difficult due to a decrease or loss of income, illness, unexpected disaster or home repairs, or personal crisis such as separation or divorce. Add to that a reduction in home values, and the problem can seem insurmountable. While savings can help to alleviate some of the impact of these life events, it is still helpful to be aware of potential programs and alternatives offered to distressed homeowners, too. In fact in last month’s State of the Union address, President Obama made reference to this struggle in home ownership, saying, “And while Government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit bottom to get some relief.”

If you find yourself in a no-win situation regarding your mortgage for your Sonora CA or Twain Harte home, it can be helpful to speak with your lender and ask about modifications that can be made in the short term. You can ask about the short sale process, too, and see if that may be a viable option for you. A short sale is when your lender agrees to accept a lower price than is owed on your property as payment in full. There is a lot of paperwork that accompanies this type of sale and it is helpful to use a real estate agent that has short sale experience with this type of transaction. In fact, some real estate agents and home buyers specialize in just this type of sale and can be a great help to you!

If you want to stay in your home, rather than sell, programs such as the Home Affordable Refinance Program (HARP), Home Affordable Modification Program (HAMP) , or the Home Affordable Foreclosure Alternative (HAFA) offered by Freddie Mac may all be options. Fannie Mae and your individual lender may have other programs that can assist you as well. Please click here to view a variety of tools on how to avoid foreclosure. Remember that you have options, if you are willing, able, and have the time necessary to explore them. Don’t give up!

Choosing the right Realtor DOES make a difference in Sonora CA and Twain Harte

Heidi The Home Hunter!

(209) 743-3010

Century 21 Wildwood now offers professional property management services.  We assist California real estate investors and second-homeowners to maintain and rent their Sonora CA homes, Twain Harte real estate, and other property in the Tuolumne County area.  Also, our staff helps owners to head off unnecessary problems and expenses related to owning multiple properties.

The property managers at Century 21 Wildwood assist owners of Tuolumne County real estate in many ways. We market to maximize profits, balance expenditures with income, screen applicants, and/or maintain homes. Our full-service management provides owners with out-of-sight, out-of-mind investments. In other words, we will pay the mortgage, insurance, taxes and all other expenses, returning the profits to you.

There are many reasons for Tuolumne County homeowners to engage a reputable property management company instead of managing their homes alone.  Knowledgeable staff at Century 21 Wildwood can recommend and implement strategies that have proven to be successful.

For example, look at marketing. Our team is experienced in marketing and advertising properties in Tuolumne County. We keep abreast of the going rates for similar rentals and seasonal rates. In fact, we may suggest a few accents or amenities, possibly a Murphy bed or rollaway bed, new curtains or a BBQ – things that we feel would increase the desirability of your home or real estate. Curb appeal and positive presentation can make all of the difference as to whether one vacation home or seasonal home is chosen over another.

To accomplish maintenance work, we network with a collection of excellent service providers, including housekeepers, plumbers, carpenters, painters, decorators, and so forth.We know that you would like to avoid being involved with negligent renters and other unpleasant experiences, so we take the lead.

As a Sierra Nevada real estate company and property management firm in the Twain Harte and Sonora area, our multifaceted services build strong associations and keep us in tune with important streams of information. Adding a touch of creativity and flexibility, we are best able to achieve customer satisfaction.

Are you trying to cover HOA fees for your family, produce an entire secondary income, or something in between?  Let the property managers at Century 21 Wildwood know exactly what you desire to achieve as an investment property owner and we will tailor our services to fit your goals.

Contact Me for helpful information about our Property Management Services as well as for buying and selling primary homes, second homes, land, horse properties and investment properties in Tuolumne County.

Choosing the right Realtor DOES make a difference in Sonora CA and Twain Harte

Heidi The Home Hunter!

(209) 743-3010

Is your home sending the correct messaage?

If not, it may be time to consider hiring a gardener or getting help from family and friends to make some needed changes as soon as possible. The right gardener can transform the most jungle-like backyard into a beautifully manicured area of peace and tranquility, in as little as a day! With all the other tasks associated with selling your home, landscaping is a great project to outsource.

Before hiring a gardener, ask friends or neighbors for referrals. Once you have a few recommendations, ask questions and raise any concerns you may have with the gardeners/landscapers you decide to interview. Some key points to discuss are how often you would like service and what you need included at each visit. Services range from simple mowing to complete care, with reseeding, watering and fertilizing options. Don’t be afraid to ask your new gardener for help with ideas and improvements that could increase your property value and alert your gardener as to the property status, since there may be times when extra special service is needed (such as before an open house). You might even request that any extra cut blooms be left for you to use inside your home.
Keep in mind that a specialty garden is not the same as basic maintenance. If you have special circumstances, you may want to consider sharing written along with any verbal instructions with your chosen landscaper. Of course maintenance and seasonal costs, liability insurance and worker’s compensation coverage are all topics you will want to discuss before entering into any agreement.

Once you have begun your service, inspect the initial work and take time to notice the changes occurring in your landscaping. As you offer feedback to your gardener and become a part of the process, you will see your home evolve into a well-kept, beautifully groomed masterpiece. Your home will create the best impression possible and deliver the message you want to share with potential home buyers.

This number is anticipated to continue to rise to five times that rate in the next five years with over 30% of “green” home building being forecasted for 2016. Beyond 2016, builders believe over 90% of their projects will be “green.” Home buyers are seeking earth-friendly features in homes for sale, so home sellers and remodelers should take note of these statistics. Renovation work has also increased in recent years, most likely due to the shifting economy, and builders report that home remodels make up over 60% of their business, according to the recent McGraw-Hill study done in conjunction with National Association of Home Builders and Waste Management.

So, home owners and those looking for new homes with eco-friendly perks, have the “green” light! Almost half of builders (46%) have begun marketing their “green” services and are becoming well-versed in determining the best needs and options for their clients. As builders become more familiar with the processes involved with earth-friendly materials, consumer cost has decreased as well, making it a great time to upgrade your home for sale. Benefits of making these eco-friendly measures can be reduced energy costs, reduced waste, better quality of life, and peace of conscience.

To get more information on the results of the Green Home Builders and Remodelers Study, click here.

As a home seller, you may feel challenged in trying to anticipate what you can do to make your home more inviting and attractive to a prospective buyer.  However, the following easy steps can welcome your buyer instantly and help them to feel as though they are “coming home” when they enter your property, so read on.

First, look out your windows.  Are they clean and inviting?  Do you have a pleasant view or can you camouflage it with some temporary plants just outside the window?  Whenever you leave or anticipate a home showing, remember to leave the window coverings open so natural lighting can show off your property.  The more light the better, so evaluate whether additional room lighting should be left on,  as well.  If the weather is nice and the outside noise quiet, consider leaving a window open to create a slight breeze.

Is your home comfortable looking?  Is the temperature moderate and the ambiance set without being overdone?  Soft music, flowing water from a fountain, or fresh flowers can leave a lasting impression about the “feel” of a home.

Your goal is to intrigue the senses throughout your home.  Whether it’s a soft blanket or an antique desk; if you have an unusual and beautiful showpiece, show it off.  Creating a lasting impression through touch or evoking a memory, since these are often reasons later given for why a particular home was chosen.  The sense of smell is very powerful, too, so keep in mind that baking cookies REALLY can help in the sale of your home.  If you do have the smell of baked good lingering in your home, please make sure the cookies are available for potential buyers so disappointment does not cloud their view of your property.

Lastly, leave the house.  That’s right – let the potential buyer have a chance to feel that the house is theirs – if even for 15 minutes.  Your home buyer needs to feel as if they are in their new home.  For this reason, many professional home stagers recommend eliminating personal effects and photos when a home is being shown.  Remember, your main job as a home seller is to prepare your home so potential home buyers feel a sense of ownership and an urgency to make it theirs before they leave.

Choosing the right Realtor DOES make a difference in Sonora CA and Twain Harte

Heidi The Home Hunter!

(209) 743-3010

The Obama administration on Friday announced it would significantly broaden the pool of consumers eligible for mortgage modifications by opening its program to owners of rental properties and homeowners burdened by medical  and credit card bills and second mortgages.
Federal officials also said HAMP would begin evaluating borrowers who may face large medical, credit card or second lien payments but up to now have been ineligible for mortgage modifications because the debt-to-income ratio on their first mortgages was below 31 percent.
Also announced was a tripling of the financial incentives awarded to mortgage investors whose modifications include principal writedowns in cases where the homeowner owes significantly more on the mortgage than the value of the underlying property. The current rate of between 6 cents and 21 cents on the dollar will be increased to between 18 and 63 cents. Officials said they had already briefed mortgage servicers on the new incentive plan.  For more information, click on the following links:

http://community.nasdaq.com/News/2012-01/hamp-expanded-to-rentals-2nd-liens.aspx?storyid=117748

http://www.loansafe.org/mortgage-modification-program-expanded-to-investors-others

The last five weeks have brought mortgage rates to historic lows according to Freddie Mac, with many averaging below 4%. That means more buying and bargaining power for you, the home buyer.  In fact, according to last Thursday’s Primary Mortgage Market survey by Freddie Mac, the average rate for a 15 year mortgage was 3.16% with fees and points averaging .8 and the average rate for a 30 year mortgage was 3.89% with fees and points of .7.

Keeping those stats in mind, it’€™s always wise to do your homework and ask your lender for a list of current rates and determine if those are lowest for that day or week and if the rate is fixed or adjustable, as that answer will affect your payment significantly.  Keep in mind that the APR (annual percentage rate) considers all fees, including points and other charges such as origination, underwriting, or closing costs fees, so it may be advantageous to use in comparisons. In a constantly evolving real estate market, it’s always wise to educate yourself and shop around, listen up, and be ready to make the best deal you can on your home purchase and your lending costs.

Choosing the right Realtor DOES make a difference in Sonora CA and Twain Harte

Heidi The Home Hunter!

(209) 743-3010

21925 Fallview Drive in Sonora CA just sold for $88,000!  Great cabin with a seasonal creek.  

Let me know if I can help you find a cabin or home!

Choosing the right Realtor DOES make a difference in Sonora CA and Twain Harte

Heidi The Home Hunter!

(209) 743-3010