Paradise California Real Estate and Blog

How to Stop Junk Mail Sent to Your Home

2011-11-29T13:29:00.000-08:00

How to Stop Junk Mail Sent to Your Home

A common complaint I hear from home owners is “How do I stop junk mail?” This is especially true for new home owners who find they’re bombarded by catalogs and advertisements intended for the previous owners.

Not only is eliminating junk mail a personal convenience, but it’s also good for the planet. Who hasn’t lugged 60 pounds of junk mail down to the curb on recycling night and thought, “I can’t believe all of this paper and ink is wasted.”?

Well, if you’re looking for a free and easy way to cut down on the unwanted catalogs, coupons, credit card offers, circulars (and more!), then be sure to check out CatalogChoice.org (http://www.catalogchoice.org).

Catalog Choice lets you opt out of direct marketers’ databases, ensuring that you receive less junk (and your privacy is protected). Register for a free account and you can immediately begin cutting down on all of that unwanted mail.

How does it work? Catalog Choice gets your opt-outs processed by the senders. You can track your opt-outs, and if you receive the mail again, Catalog Choice will follow up. They work with over 4000 companies to honor your choices and have processed over 20 million opt-outs by over 1.4 million account holders.

Take control of your home’s mailbox today!

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Call or Text Me: 530-413-8383

5 Tips to Save Money for First-Time Home Buyers in Paradise, CA

2011-11-28T15:09:00.000-08:00

Paradise, California - 5 Tips to Save Money for First-Time Home Buyers

Those who missed taking advantage of the first-time buyer tax credit but who are still planning the purchase of their first home, continue to have a wealth of opportunities in today’s marketplace. A few smart steps can save first-time buyers thousands of dollars. Here is a look at some of the ways how:

1. Don’t buy if you don’t plan to stay

If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner – even in a rising market. When prices are falling, it’s an even worse proposition.

2. Start by shoring up your credit

Since you probably will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

3. Choose carefully between points and rate

When picking a mortgage, you usually have the option of paying additional points- a portion of the interest that you pay at closing- in exchange for a lower interest rate. If you stay in the house for a long time- say three to five years or more- it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.

4. Hire a home inspector

A home inspector can let you know if you’re about to buy a lemon of a house or warn you about potential problems. At best, you can move into the house confident that it’s in good shape; at worst, the inspector’s report can let you back out of the deal if the house has major, unexpected problems. Most typically, the home inspection can allow you to negotiate the home price to account for necessary repairs.

5. Get professional help

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

6. Bonus Tip: Be patient

Buying a home is one of the largest purchases most people will make in their lifetime. The key to avoiding buyer’s remorse is to be completely comfortable before signing on the dotted line.

Property Investments in Paradise CA

2011-10-19T11:21:00.001-07:00

Real Estate for Today’s Paradise California Investment Sellers and Investment Buyers

Are you looking for alternative investment options to the stock market? Many experienced investors are turning to the real estate market to generate current cash flow, short term capital gains, and the generation of long term wealth.

Real estate is an important component in any investor's overall investment portfolio. In fact, real estate is often included within many investors' mutual funds or real estate investment trusts, because of its ability to react in a different fashion to market conditions than traditional investments often do.

Now is one of the best buying opportunities for Paradise real estate investors seeking to purchase physical properties as investments, as the prices have dropped significantly over the past few years.

With reduced prices, investors have the opportunity to buy into this lucrative market at a low point. And, since the golden rule of investing is to buy low and sell high, the Paradise buying opportunity is ripe!

Whether you are a real estate investor looking to flip properties for a profit, or an individual searching for their first piece of real estate, declining property values present an ideal buying situation.

I have the expertise required as a real estate investor’s agent to help you locate your ideal investment property. Whether you are looking for properties to flip, rent or hold for a medium to long-term gain, I can assist you in locating, negotiating and closing on your piece of investment real estate.

For more information, you can visit my Web site or feel free to give me a call.

Sincerely,

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct

www.TammyVertrees.com

Technorati Tags: Real Estate Investor Real Estate Investment Home Investment Real Estate Flipper

Weekly Market Report for Paradise and Magalia California

2011-10-06T12:24:00.001-07:00

Weekly Market Report for Paradise and Magalia California

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

Technorati Tags: Magalia Market Report,Market Update,Paradise Market Report,Weekly Market Report

Top Ten Home Showing Tips

2011-10-03T21:20:00.001-07:00

Top Ten Home Showing Tips

Showing your home is essential in the real estate business. After all, who would purchase a property sight unseen? When a potential buyer stops in, here are ten recommended tips to follow when showing your home:

Tip # 1: Welcome Your Buyers

If you are still living in the home while it's being shown, graciously greet your potential home buyers and invite them to look around. Make sure that you instruct them to take their time and to ask any questions that they may have. It may be a good idea if you leave the home for a short time to allow the buyer to look without feeling restricted by your presence. A potential buyer is less likely to voice any concerns in front of the current homeowner, which is why it's better to leave your buyers with the REALTOR® and announce that you will be returning in 30 minutes. This should allow plenty of time for your potential buyer to speak candidly with the REALTOR®.

Tip # 2: Be Flexible

Many home buyers are on a tight schedule, whether it be work, school or other commitments. Time is tough to come by, so try to be flexible about allowing potential buyers to tour your home. If you are still living on the premises, it's especially important that you be ready for last-minute visits.

Tip # 3: Climate Control

When a buyer comes into your home, they do not want to feel cold in the winter or overly stuffy in the summer. If you know that your REALTOR® is bringing a potential buyer to tour the home, make sure that the temperature is comfortable. Otherwise, your buyer may not spend as much time in the home as necessary in order to form an accurate opinion. The last thing you want is a buyer who's in a hurry to leave.

Tip # 4: Quick Cleaning

If you have enough time before the buyer shows up, run the vacuum over the floors and make sure that any clutter is cleaned up. A clean home appears larger, while a cluttered one gives the appearance of being too small. If you really want to impress your potential buyers, place a plate of freshly baked cookies on the dining room table. When they walk into your home, they will be greeted by the wonderful smell.

Tip # 5: Animal Control

If you have pets, remove them from the home temporarily or place them in a contained space, such as a kennel, exercise pen or carrier. This will allow buyers to tour the home without being distracted by a nervous animal which could result in a nervous buyer.

Tip # 6: Light The Way

Your home should appear open and bright, even if it's a winter day, so open the curtains and turn on the lights throughout the home. Buyers will not likely be drawn to a dark, dimly-lit house.

Tip # 7: Educate Your Buyers

When someone is looking for a home, they are looking for more than the perfect floor plan. If you have recently had the home appraised or inspected, place copies of each report on the dining room table. Purchasing a home is a big step, and buyers will be drawn to a home that has everything out on the table, so to speak.

Tip # 8: Communicate With Your REALTOR®

If you want certain aspects to be pointed out during the home tour, tell your REALTOR® what they are. For instance, good neighbors are a big plus to any home, but it's not something that potential home buyers will see simply by looking at the rooms in your house. If you have wonderful neighbors, ask your REALTOR® to point this out. If you live in a family-oriented neighborhood, let it be known.

Tip # 9: Curb Appeal

An important part of showing your home is making sure that the outside looks just as appealing as the inside. When a potential buyer drives up, you want them to be eager to see what else is in store for them. You can do this by paying close attention to your curb appeal. In addition to having a freshly cut lawn and properly maintained flower beds (if applicable), the outside of your home should be free of any clutter and any shrubs should be groomed.

Tip # 10: Ask For Feedback

Once the potential buyer has completed their tour, invite their feedback by placing comment cards in the home. The information provided could be potentially helpful during your next home showing, and it will make the potential buyer feel as though you value their opinion.

Technorati Tags: Home showing,home buyers,home sellers,showing your home

The Benefits Of Paradise Home Ownership

2011-10-03T20:44:00.001-07:00

The Benefits Of Paradise Home Ownership

The decision to purchase a Paradise home is exciting and a major investment for your future. Because there is only so much of it to go around, real estate is the top choice for many investors and the desire for most families. This article is designed to highlight some of the many benefits of home ownership and how buying a home can often turn the American Dream into a reality.

One of the most profitable markets in real estate is rentals, which means that many families are paying to live in a home that isn't their own. In some cases, renting a home is necessary. For all others, the money that would be spent on rent could instead be used to pay a mortgage. In fact, monthly rent payments often exceed that of a typical mortgage payment. One of the greatest benefits of home ownership is putting money into something that you can call your own and knowing that the monthly payments are going toward your home's equity.

When you own a home, you will enjoy the freedom of decorating and making any changes that you choose without needing the permission of a landlord or property owner. In addition, you may even be able to use your home's equity to finance some needed improvements and/or repairs. In some cases, these changes may even increase the value of your home. An upgraded kitchen or bathroom, hardwood flooring or an additional room are examples of changes that could result in added value.

Another advantage of home ownership is the tax benefits that are available. The interest paid on a home mortgage as well as most property taxes paid are tax deductible. For additional information on deducting mortgage interest and property tax, consult the IRS or a tax professional.

In addition to providing yourself and your family with a feeling of stability and permanence, home ownership can also help strengthen your credit profile through timely mortgage payments and a steady financial history.

Technorati Tags: Home Ownership,Paradise CA,Magalia CA,Paradise Home Buyer,First Time Homebuyer,own a home,home investment

Getting Your Paradise Home Ready to Sell

2011-10-03T16:03:00.001-07:00

Getting Your Paradise Home Ready to Sell

You would never dream of inviting guests to your house without making certain preparations, so don't invite potential buyers without first making the necessary updates by preparing your Paradise home to sell. If you are like most sellers, you want to get as much as possible for your home and you want to do it as quickly as possible.

Letting Go

After you've lived in a house, it becomes much more than four walls and a ceiling. It's a home and it has a lot of good memories. Your first step to preparing your home to sell is to realize that you will take these memories with you wherever you go, but you won't be taking the house. It can be difficult to let go, but the task will be much easier if you start to think of it as a new beginning rather than an ending.

Cleaning House

An important part of getting your home ready to sell is in staging the decor for potential Paradise buyers. When you stage a home, you create an environment that is free of any personal items, such as photos and/or anything that stands out as being customized for you or your family. When a potential buyer walks through your home, they need to envision their belongings and decor without being distracted by yours. While these items may be special to you, they could possibly prevent the buyer from being able to imagine their own style complimenting the home.

In addition to removing any personal items, make sure that you remove any clutter from the home. A clean home seems larger and more inviting, whereas a lot of stuff lying around could give the impression that the home is too small or cramped for storage. Pack up any knickknacks, remove your children's drawings from the refrigerator and clean up your counter space in both the kitchen and bathrooms.

Staging Your Paradise Home

Now that your house is clean, it's time to put the finishing touches on the staging process. A solid, neutral shade in a tablecloth should be selected for the dining room table. Depending on your decor and wall coloring, a solid white, sand or ivory covering will work well. In the center of the table, a vase with fresh cut flowers (or silk, if you have allergies) will add a nice accent. Did you know that the kitchen and bathroom are two of the main selling points to any home? Keep this in mind when preparing your home for potential Paradise buyers.

The living room should have one focal point, whether it be a fireplace or breathtaking view of the outside world. If you have too many features screaming out at potential buyers, they may feel overwhelmed, so focus on one aspect and make it shine. If you have a mantle, line it with three candles that match your decor in color. Place a large candle in the center with one smaller one on each end, which will be reminiscent of a perfectly matched bookend set. A home with a stunning view should have window dressings that accent the positive, instead of hiding it. If your furniture has a design of any kind, mask it with a solid slipcover to compliment the flooring or wall color. Some homeowners also add a fresh coat of paint to their home, which will bring life back into a fading color. Turn on the lights and open the blinds and draperies to create a bright and inviting environment throughout your home.

Where To Store Your Stuff

Now that you know how important it is to remove any clutter and oversized or bulky furniture, you need to know where to put it. If you already have a new home, you can simply move it there. Otherwise, you can put it into storage until you are ready to move. It's important to leave some essentials in your former home for potential buyers to see, such as a dining room table, a sofa and chairs, bed, etc. Any additional furnishings that seem to interrupt the flow of your home, or make it feel cramped, should be removed. You do not want potential buyers to feel as though the house is too small.

Details, Details, Details . . .

As a final strategy to prepare your Paradise home to sell, make sure that you have any carpet stains removed, windows cleaned, fresh linens placed in the bedrooms and bathrooms, etc. You would be surprised how many people pay attention to even the smallest of details, so be sure to fix any small repairs that could be a turnoff for buyers. Last but not least, make sure your home looks just as good on the outside as it does on the inside. This means that your lawn should be cared for, flower beds must be maintained and any outdoor clutter must be removed.

Technorati Tags: Sell your home,selling your home,putting your home on the market

Why Real Estate Assessments Matter

2011-09-22T11:15:00.001-07:00

The real estate assessment letter you filed away unopened is the driving force behind how much you pay in property taxes.

If you're suspicious that your property taxes are too high, you can check for errors by calculating the value of your property tax.

You might not think too hard about your real estate assessment, the dollar value the local government puts on your house and land. You should. The assessment determines how much you shell out on property taxes.

If you have a mortgage, your home lender is probably paying your property taxes out of an escrow account. Odds are you don’t even know how much gets collected. Devote an hour of your time to becoming better informed. Once you understand your real estate assessment, you’ll understand your property tax bill—and, more importantly, whether you’re paying the right amount.

Homeowners and property taxes

Your local government needs every dime it can collect to pay for all of the services you expect as a resident: schools, libraries, hospitals, and so on. A healthy chunk of that revenue is raised from homeowners via property taxes. In normal times real estate values climb steadily, allowing local governments to take in a little more every year to keep up with inflation and perhaps even add a few services. Property tax bills usually come due once or twice a year.

The situation gets stickier when real estate values are in decline. If that occurs, local governments generate less revenue from property taxes, meaning the tax rate needs to go up, the money needs to come from somewhere else, or spending on services needs to go down. According to a 2009 survey conducted by the National Association of Counties, 62% of counties polled say declining property taxes are a major source of revenue shortfalls. Forty-two percent of counties have cut services, and 11% have raised property taxes.

Assess your real estate assessment

No matter if property values are rising, falling, or stagnant, you need to understand how you’re being taxed. Everything starts with your real estate assessment letter, which reveals what your property is judged by the local government to be worth. The letter will differ, depending where you live, but most will have a legal description of your house and separate values for the land and the structure. Add those two numbers together to get your home’s assessed value.

Some local governments will appraise your home every year, others every two or more years. Tax assessors generally use one of two methods to come up with an assessment value for your home. The most common relies on looking at recent sales of comparable homes. Keep in mind that “recent” is a relative term. To come up with a real estate assessment, assessors may be looking at sales that occurred as long as 18 months prior. Alternatively, especially in the absence of recent sales data, assessors will calculate the cost to rebuild your home, and add that to the estimated worth of your land to come up with a dollar amount.

Break out the calculator

How much you pay in property taxes is based on your real estate assessment. Put simply, your home’s assessed value is multiplied by the local tax rate to come up with a figure. However, it can become more complicated if there are multiple taxing authorities where you live—a city and a county, for example—or if there are special one-time assessments. Qualifying for property tax exemptions, perhaps due to age or disability, will also alter the formula. Some local governments offer online calculators on their websites, or call the tax assessor’s office for help.

If you want to run the numbers for yourself, don’t be intimidated by how your tax rate is expressed. Sometimes it’ll take the form of a percentage, say 1.5%, or perhaps a decimal, 0.015. Both equal the same thing. So the owner of a home that’s assessed at $100,000 would owe $1,500 a year in property taxes. Other times it’ll be expressed as an amount per $100 or $1,000 of home value. In the case of a 1.5% tax rate that would mean $1.50 per $100 or $15 per $1,000. Regardless, the math doesn’t change: Multiply $100,000 by 0.015.

Knowledge is power—and savings

Assessors have a lot of ground to cover. Many rely on valuation formulas that assess whole streets or neighborhoods. Most haven’t seen your house in person, so don’t wait for a knock on your door from an assessor hoping to take a look around. That’s why you need to read your real estate assessment letter carefully, look for errors, and challenge your assessment if it seems too high.

If you find a way to reduce your real estate assessment, whether by contesting it or qualifying for an exemption, the savings can add up. The median annual property tax paid in the U.S. in 2008 was $1,897, or 0.96% of the median home value of $197,600. Trimming just 15% off the median value would result in savings of about $285. Of course, if your home value and local tax rate are higher, then you’re looking at even greater savings.

This article provides general information about tax laws and consequences, but is not intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Readers should consult a tax professional for such advice, and are reminded that tax laws may vary by jurisdiction.

Technorati Tags: real estate assessment,property taxes,real estate taxes

5 Inexpensive Home Updates to Complete before Listing Your Home

2011-08-24T19:32:00.001-07:00

5 Inexpensive Home Updates to Complete before Listing Your Home

August 2011—There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

1.) Update your old garage door(s). Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the drive way. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have taken a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore.

2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time consuming and costly headache. First time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing pre-listing you an actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair.

3.) Assess your floors. If you have hardwood flooring, it’s worth the investment to have them refinished considering buyers put an extremely high value on them; you’ll get the most bang for your buck if they are refurbished. Carpets should be shampooed and replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparables.

4.) Paint the trim. If you can’t afford the daunting task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming, and delayed by weather conditions; painting just the trim will give your home a fresher look. Interior trim is equally as important.

5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simple replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by just searching for terms like sale faucets, sale plumbing fixtures etc.

Make Your House FHA-Loan Friendly

2011-08-11T18:53:00.001-07:00

Make Your House FHA-Loan Friendly

Know the basics of FHA loan rules and you stand a better chance of selling your house or condo.

Most buyers will expect a home inspection, including a form outlining what the inspection revealed.

Make your house FHA-friendly, and it will appeal to more homebuyers. Why? Because the Federal Housing Administration is insuring the mortgage loans used by about 30% of today’s homebuyers.

If your house passes the FHA rules, it will appeal to buyers who plan to use an FHA-insured mortgage. If your house doesn’t qualify for an FHA loan, you’re cutting out 30% of potential buyers.

FHA is especially important to first-time homebuyers and those with small down payments because it allows borrowers with good credit to make a down payment as low as 3.5% of the purchase price.

Here’s how to make your home appealing to FHA borrowers:

Know the FHA loan limits in your area

Start by checking to see if your home’s listed price falls within FHA lending limits for your area. FHA mortgage limits vary a lot. In San Francisco, FHA will insure a mortgage of up to $729,750 on a single-family home. In the White Mountains of New Hampshire, the loan limit is $271,050.

Home inspections

Most buyers will ask for a home inspection, whether or not they’re using an FHA loan to buy the home. You must give FHA buyers a form explaining what home inspections can reveal, and how inspections differ from appraisals.

How much do you have to repair?

If the home inspection reveals problems, FHA will not give the okay to buy the home until you repair serious defects like roof leaks, mold, structural damage, and pre-1978 interior or exterior paint that could contain lead.

Dealing with FHA appraisers

Help the lender’s appraiser by providing easy access to attics and crawl spaces, which usually must be photographed.

Your buyer can hire his own appraiser to evaluate your home. But FHA only relies on reports by its approved appraisers. If the two appraisals conflict, the FHA appraisal preempts the buyer’s appraisal.

Help with FHA closing costs

Most FHA buyers need help with closing costs, says mortgage banker Susan Herman of First Equity Mortgage Bankers in Miami. So a prime way to make your house FHA-friendly is to help with those costs.

FHA currently allows sellers to pay up to 6% of the sales price to help cover closing costs, but is considering lowering that limit to 3% in the fall of 2010.

If you’re selling a condo

FHA also has to approve your condo before a buyer uses an FHA loan to purchase your unit. Be sure your condo is FHA-approved for mortgages. The list has been updated, so if your association was approved a year ago, check again to make sure it’s still on the approved list.

FHA generally won’t insure loans in condo associations if more than 15% percent of the unit owners are late on association fees. Ask your property manager or board of directors for your association’s delinquency rate.

Other rules cover insurances, cash reserves and how many units are owner-occupied and the types of condos that can be purchased with an FHA mortgage.

FHA sometimes issues waivers for healthy condominiums that don’t meet the regular rules. If your condo isn’t FHA-approved, it doesn’t necessarily have to meet every single rule to gain approval. Ask your REALTOR® to consult with local lenders about getting an FHA waiver for your condo if it doesn’t meet all the requirements.

FHA also limits its mortgage exposure in homeowners associations. With some limited exceptions, no more than 50% of the units in an association can be FHA-insured.

Technorati Tags: FHA Loan,FHA home buyer,home seller,appraiser,FHA borrowers

Town of Paradise First-Time Homebuyers Program for Paradise, CA

2011-08-06T11:45:00.001-07:00

Town of Paradise First-Time Homebuyers Program for Paradise, CA

Tammy Vertrees, Paradise California Realtor®

The Town of Paradise offers a deferred, low-interest loan to eligible first-time homebuyers based on Federal 2011 Income Limits as down payment assistance to purchase a Paradise, CA home. A first-time homebuyer is someone who has not owned a home in the past three years. The loan is a “bridge” or “gap” loan meaning that the loan amount is based on the difference between what the borrower can afford and the amount of money needed to purchase the Paradise CA home. The loan is secured by a note and a deed of trust and does not require monthly payments. The loan is due when the Paradise CA home is sold; the homeowner stops using it as their principal residence; or the title is transferred out of the name of the original borrower.

The first step of the process is to select a lender from the list of approved Certified Lenders. The lender will pre-qualify you for a loan and determine the amount you can afford on a house. The second step is to select a Paradise CA realtor from the Certified Realtors list to help you select a Paradise home. The Town of Paradise offers free First Time Homebuyer Workshops through the Community Housing and Credit Counseling program.

Please contact me to see if this program will work for you! 530-413-8383

town-paradise-firsttime-homebuyers-program

Technorati Tags: Paradise CA,First Time Home Buyers,Town of Paradise,First Time Buyer Program

Town of Paradise,Paradise California,Homebuyers Program,Tammy Vertrees,California Realtor,Paradise Realtor,Federal Income Limits,homebuyer assistance,homeowner assistance,Lenders,Realtors,Homebuyer,homebuyer Workshops,Technorati

Time to Start Work on Your Paradise Fall Garden

2011-08-03T21:37:00.001-07:00

Time to Start Work on Your Paradise, CA Fall Garden

Mid- to late-summer is the ideal time to start a fall garden, or a “second season” crop of your favorite cool-season vegetables and flowers.

What to grow. Even where winters are cold and the ground freezes hard, many vegetables can still be grown to maturity before first frost. For edibles, try beets, cilantro, lettuce, radish, spinach, kale, peas, salad greens, Swiss chard, broccoli, carrots, cabbage, onions, leeks, parsley and arugula. When choosing varieties, select ones that are fast-maturing to insure a harvest before cold weather hits.

Seeds of annual flowers that thrive in cool weather can also be sown now for fall and spring bloom, including alyssum, candytuft, calendula, stock and sweet peas.

When to start. The key to growing vegetables for fall harvest is timing. Vegetables grown in this season need about 14 extra days to mature compared with spring-seeded crops due to fall’s shorter days, cooling soil, and less intense sunshine. When deciding the date to start your veggies, first determine your average first frost date. Then look at the seed packet for days to maturity. Add 14 days to that number, then use that figure to calculate back to seed-starting date.

Growing on. Sowing seeds or setting out transplants in mid-summer can be more stressful to young plants than seeding during cooler, often wetter spring weather. Keep the soil moist as seeds are germinating.

Protect young seedlings with shade cloth or plant them near taller plants, such as corn or tomatoes to provide shade from the hot afternoon sun. Another option is to start seeds in containers in a spot with bright light and then transplant young seedlings into the garden. This works well for crops like lettuce and spinach, whose seeds don’t germinate as well when soil temperatures are high.

Fall harvest. With a little effort in late summer, you’ll eat well in fall because crops such as kale, lettuce, spinach, and broccoli thrive in the lower temperatures.

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Home Buyers | Home Sellers

For information on Paradise, Magalia, Chico, California and surrounding areas, contact me directly at 530-413-8383.

Real Estate Consultant
Coldwell Banker Ponderosa Real Estate
530-413-8383
www.TammyVertrees.com

gardening, garden, fall garden

Don't Let Termites Eat Away the Sale Of Your Home

2011-07-29T11:30:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Don't Let Termites Eat Away the Sale Of Your Home

You're selling your home and it comes time to get that dreaded termite inspection. It's the Wood Destroying Organism (WDO) inspection that homeowners fear can eat away at the price of a home or ruin the entire deal--but it doesn't have to.

There are a few signs that may indicate there might be an infestation. Some states are more likely to have heavy termite activity such as those in a "hot zone" such as California, Texas, Mississippi, Alabama, Louisiana, Georgia, South Carolina, Florida, and Hawaii. While these areas have the highest level of activity, termites can be found nearly anywhere and the varieties of the insects differ depending on the area and climate.

According to TermiteInstitute.com, "When conditions like cracks in the foundation or plumbing leaks are present; the possibility of a hidden wood-destroying infestation exists. Buyers should pay particular attention to these potentially hazardous conditions outlined in the WDO inspection report."

Many homeowners don't think about the possibility of having termites until they're getting ready to sell their home. Unfortu

nately, a history of termite issues can eat away at the sales price. Being prepared and understanding what to expect from an inspection is not only helpful but could help ensure a better price and smoother home sale.

TermiteInstitute.com has a lot of information that helps clarify the type of termites found in various locations. The site also helps inform and educate people about termite warning signs, treatment, and even the biology and life cycle of these pests. I found the site's top questions and answers about termites to be very interesting. Here's what you should know about termites.

If my neighbor's home is infested; will mine be attacked next? TermiteInstitute.com says not necessarily. However, the risk is, of course, high. Preventive treatment is recommended.

How are homes treated for termites? The methods vary depending on the severity and the professional company that you choose but here's a look at some modern treatments.

Termite bait systems can be set up, however, this requires termites to find the bait stations, eat the poisonous feed, and then transfer it to the colony. It can take up to a year to be fully effective.

The site says that liquid termite treatment is known as the new "undetectable" or "non-repellent" technology. "It works well with subterranean termites, which comprise about

90 percent of the infestations in American households." This method is done by a professional applying the undetectable liquid to the soil and around the home as well as critical points in the structure where termites are likely to invade.

Since termites can't detect the liquid material, they pass through the treated soil causing termite mortality. "However, before termites die, they can have an opportunity to return to the colony and transfer the material to others in the nest," according to TermiteInstitute.com

Will my homeowners' insurance pay for treatment? It's not likely. Although, in some areas of Louisiana some insurance companies have covered termite treatments for those structures that suffered hurricane damage.

While termites are annoying and can certainly eat away at your sale price, if you don't take care of the infestation and damage, they're not harmful to humans. In other words they feed on wood, not people. But they can severely damage a home so it's best to know right away whether you have an infestation and what your options are to resolve the problem. It could save you money and frustration when it comes time to close the sale on your house.

What to Buy, What to Skip at Summer Closeout Sales

2011-07-25T16:48:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

What to Buy, What to Skip at Summer Closeout Sales

By Ely Portillo

July 21, 2011—(MCT)—With summer sales kicking into high gear, it can be tempting to throw caution to the wind and embark on some pre-Christmas splurging.

We’ve rolled past the Father’s Day and Fourth of July deals and into the back-to-school zone. But some experts are cautioning shoppers to hold back on some items and wait for what are typically steeper discounts times later in the year.

“August might be better for deeper discounts” on many items, says Lindsay Sakraida, features director of Dealnews.com. And electronics are typically cheaper near the end of the year. The site tracks about 2,000 retailers daily and alerts members who has the best sales for the day.

But depending on what you’re looking for and how badly you need it right now, Sakraida says this could be a good month for many purchases. Apparel, shoes, some sports equipment and some airfares are usually discounted well in July, she says.

Laptops and high-definition TVs, while often on sale now, are usually more heavily discounted during the holiday shopping season. And examine your back-to-school and Christmas-in-July sales closely, she says—sometimes, those labels are more marketing tactics than serious discounts.

By looking at past sales data, Dealnews.com has assembled a list of what are likely to be some of the best and worst products to buy this July.

Have a blast buying:
• Anything you can get on clearance. Retailers are getting rid of the last of their previous season’s inventories. Sakraida says many items, especially kids’ jeans and other apparel, are probably going to be on sale.

“If you need to buy clothes for your kids, July could be a good month for that,” Sakraida says.

The deals might not last for long, however. Ken Perkins, an analyst with Retail Metrics, said recently that many retailers are finishing their clearance sales and will likely pull back from deep discounting soon.

• Airfare: Some companies have already posted deep discounts, such as a $29 sale from JetBlue recently. Expect to see more such deals popping up, Sakraida says. To take full advantage of them, however, you might have to fly on less-popular days such as Tuesday or Wednesday.

• Sports equipment. Sakraida says July is typically a good month for golf equipment discounts. Look for clubs on sale and local deal packages, she said. Also, last July was noted as an especially good time to find baseball caps on sale at Kohl’s and Lids, so keep your eyes open if you’re searching for your favorite team’s cap.

Think twice before spending big on:
• Laptop computers. Although many models will be advertised as on sale, Sakraida says the biggest discounts typically come later in the year.

“You’re going to still get a better deal around Black Friday or leading up to Christmas,” she said. If you can wait a few more months, you’ll probably save with the electronics sales later in the year.

One exception is computers built around AMD’s A350 processor. Those have been steadily dropping in price, so if you can’t wait, search for deals on those computers.

“If you really need a laptop now, go for that,” Sakraida says.

• HDTVs. Much like laptops, those are likely to be much more heavily discounted closer to the end of the year. Real bargains probably won’t start until November.

One exception, Sakraida says, is the 55-inch model, which usually offers consumers the best value for mega-sets. This July, Dealnews.com has seen the sets bottom out at just over $1,000, so if you find one for that price, you’re probably getting a good deal.

Sales labeled “Black Friday,” “Christmas in July,” or “Back to school.”

The number of such sales increased last year, Sakraida says. But are the discounts really on par with Black Friday or Christmas?

“A lot of times, it is just sort of a name,” says Sakraida. “You should be wary of equating it with the really big, big discounts you see around Black Friday. They don’t necessarily translate.”

So even though the name might be catchy, Sakraida says, don’t expect to see the 50 percent to 75 percent off deals that often accompany frenzied shopping the day after Thanksgiving.

And though many retailers are starting back-to-school sales earlier than ever (according to media reports, Target, Wal-Mart, Staples and Office Depot are all starting their pre-school pushes), Sakraida is still cautioning consumers to wait to stock up on items such as backpacks, notebooks and binders.

“Generally, the items you want to buy for a kid going back to school, you can probably get better deals if you waited till August,” she says.

2011-05-25T10:17:00.001-07:00

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2011-05-11T07:16:00.001-07:00

Chocolate Fest this Saturday: http://ping.fm/NK3hO

2011-05-11T06:18:00.001-07:00

Real Estate News, Help & Blog: http://ping.fm/Umx4F

2011-05-09T15:22:00.001-07:00

Vote in this poll: Are you planning on moving in the next year? http://bit.ly/kzN6Js

2011-05-09T10:59:00.001-07:00

Initiative ~~ Success usually comes to those who are too busy to be looking for it.

2011-04-30T12:13:00.001-07:00

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2011-04-28T19:06:00.001-07:00

4 Signals It Might be Time to Buy (vs. Rent) Your Home: http://ping.fm/IdpxY

2011-04-21T09:41:00.001-07:00

Existing-Home Sales Rise in March: http://ping.fm/xMCIf

2011-04-01T16:13:00.001-07:00

ACS CAN : Celebrate With Action http://ping.fm/EGcax

2011-03-26T14:11:00.001-07:00

Forecast for Paradise, CA: http://ping.fm/2mJG9

2011-03-06T12:58:00.001-08:00

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2011-03-04T20:01:00.001-08:00

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2011-03-04T07:05:00.001-08:00

30-Year Fixed-Rate Mortgage Drops for Third Consecutive Week http://ping.fm/E4hGt

2011-03-03T07:00:00.001-08:00

Weekly meeting and home tour day, fun with friends

2011-03-02T21:52:00.001-08:00

Reading Realtor mag

Plenty of Reasons to Buy a Home Even After the Tax Credit

2010-06-01T19:54:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Plenty of Reasons to Buy a Home Even After the Tax Credit

Even though the home buyer tax credit expired on April 30 and won't be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but they may not be around forever.

"The home buyer tax credit was just one of many factors motivating Americans to buy homes," said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. "But buyers can still take advantage of today's low interest rates and competitive prices to get a home they may not have been able to purchase just a few years ago."

Besides mortgage interest rates that have been hovering at near-record lows, homes in many markets have become more affordable. Prices have moderated from the highs of the housing boom that occurred in most of the country, especially in major markets where they had increased significantly.

Today's new homes are also built to be much more energy efficient than homes constructed a generation ago, making them more affordable to operate. New homes are designed to support modern lifestyles with open floor plans, flexible spaces, improved safety features, and low-maintenance materials.

Consumers who are thinking about buying a home should not count on interest rates or prices staying at current levels, however. Mortgage rates are sensitive to market conditions, and even a slight increase can push monthly payments beyond a family's budget. As the country recovers from the recession and people stabilize their financial situations, NAHB economists expect that home prices will begin to increase by 2011.

NAHB's home buyer brochure "Opportunity Knocks for Home Buyers" describes many of the opportunities in today's market, as well as the long-term financial benefits of homeownership. It provides examples of how interest rates affect monthly mortgage payments and the typical federal tax savings over the first five years of homeownership. The brochure can be downloaded from NAHB's web site at: www.nahb.org/homebuyerbrochure.

The home buyer tax credit is still available for eligible home buyers who had a signed sales contract by the April 30 deadline and who close by June 30, 2010, as well as for qualified members of the military, foreign service and intelligence communities, who have until April 30, 2011, to sign a contract.

_______________________________________________________

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

I specialize in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas. I provide my clients with a strong level of comfort, powerful negotiation skills and use of the latest technologies.

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

How foreclosure impacts your credit score

2010-05-17T21:27:00.001-07:00

How foreclosure impacts your credit score

By Les Christie, staff writer April 22, 2010: 4:44 PM ET

NEW YORK (CNNMoney.com) -- If you're delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much?

Until recently, those answers were hard to come by. Credit bureaus were uncommunicative about expressing, in points, just how much impact different foreclosure types of mortgage delinquencies have on scores.

Recently, Fair Isaac, which developed FICO scores, pulled back the curtain a bit, revealing some estimates of point-score declines following mortgage delinquency problems.

Here are the average hit your credit will take:

30 days late: 40 - 110 points

90 days late: 70 - 135 points

Foreclosure, short sale or deed-in-lieu: 85 - 160

Bankruptcy: 130 - 240

To come to these figures, Fair Isaac created two hypothetical consumers, one who starts out with a fair-to-middling score of 680 and the other with a very good one of 780. (FICO scores range from 300 to 850.)

The hypothetical person with the 780 FICO has 10 credit accounts versus six for the 580, plus a longer credit history, lower utilization of total credit limit and no missed payments on any account. The other consumer has two slightly damaged accounts. Neither have any accounts in collection or adverse public records.

See the chart above to see how each scenario affected each borrower.

Notice that for both borrowers a single one-time black mark results in steep drops, but it is when they fall further behind that things get really harsh, according to Craig Watts, a spokesman for Fair Isaac.

"The lending industry tends to regard an account differently when it has become 90 or more days late," he said, "The likelihood that consumers will resume paying their overdue obligations drops off significantly after the delinquencies have reached 90 days."

One reason credit companies were so closed-mouthed is that they often can't definitively state how much each delinquencies will affect scores because there are too many variables.

Some borrowers will fall much more steeply than others for the same payment problem, according to Maxine Sweet, vice president for public education at Experian, one of the nation's main credit bureaus.

"If you picture someone who has just one mortgage and one other credit account versus a mature credit user like me with 15 accounts, if they miss one payment that would impact their scores a lot more," she said. "For me, one missed payment would just be a blip."

The point loss also depends on the borrower's starting point: People with very high credit scores have more to lose than low-score borrowers; the impact of a single blemish on an 800 score is more than on a 500.

Of course, it just gets worse when you face foreclosure.

Mortgage borrowers can lose their homes three basic ways: a foreclosure; a short sale, where the home is sold for less than than is owed and the bank (generally) forgives the difference; or a deed-in-lieu, in which the borrower gives back the property and the bank again forgives any unpaid balance.

Sweet said credit bureaus generally slash scores equally for those three resolutions to someone losing their home. The important factor, she said, is that "it's reported that you paid less on a settled account."

Some borrowers may think that because they never missed a payment, they can "walk away" from their homes with relatively little impact on scores. Not true. "When a deed-in-lieu or short sale is reported as a partial payment, it's treated as a serious delinquency," Watts said, "just like a foreclosure."

Even if borrowers made payments faithfully for years before short selling or doing a deed-in-lieu, their credit score will still take a hit. The total decline will run about 85 points for the 680 score borrower to as much as 160 for the 780 score.

Mortgage debt, combined with other financial problems, can send borrowers into bankruptcy, the worst thing that can happen to your credit score.

The effects are long-lasting, according to Sweet. In a Chapter 13 bankruptcy, which involves partial repayment over several years, the stain will take seven years to remove. A Chapter 7 bankruptcy, which involves liquidation, takes 10 years to get over.

It's gonna cost you

Absorbing a big credit-score hit can make many transactions more costly. It's not just paying more for credit card debt and auto loans, insurance can cost more as well.

The average savings for someone with a good versus mediocre credit score is about $115 a year for auto insurance and $60 for home, according to Loretta Sorters, of the Insurance Information Institute.

A low credit score can even make it harder to rent a home because landlords often use credit scores to weed out prospective renters.

Despite the problems a poor credit score can cause, Experian's Sweet recommends that people who are in financial dead ends, like totally unaffordable mortgages, it's better to recognize that and cut your losses quickly; don't prolong the problem.

"You need to do what you need to do to get your finances back in order," she said. "Don't worry about your credit score."

Childproofing Your Home

2010-05-05T20:10:00.001-07:00

Childproofing Your Home

When it comes to decorating your home, there's a lot more to consider than simply coordinating your window treatments with your carpet. This is especially true if you have children in the home, which presents a whole new concern for keeping them safe and sound.

Take A Look Around

When you take a quick glance throughout your home, what do you see? Is the home decorated for an adult or a child? If your little one is like most, he/she has a lot of energy and isn't afraid to use it. To prevent a hard spill, many families replace hardwood or tile flooring with plush carpet or rugs for a little extra padding. If your child stumbles and falls, the extra cushioning will come in handy.

Do you have any furniture with glass inserts or sharp corners, or do you see a lot of breakables throughout the home? If so, it's time to remove them. You should get rid of any furniture that could be hazardous to your youngster and this includes glass top tables and anything with protruding edges.

Lots Of Locks

When you have children in the home, it's important that you keep all cleaning products locked away in a cabinet and/or out of reach of your little ones. If possible, consider adding an alarm that will alert you if the cabinet is opened.

Most families have a medicine cabinet, which contains either over-the-counter or prescription medication. This area is a serious concern for children and should be locked and out of their reach. It's also important that all medications feature a childproof lid for added protection.

If there is an area of your home or a specific room that your child is not permitted in, place a child gate in the doorway to prevent them from sneaking in while you're not looking. Children are fast, but this is one way to make sure that they are also safe.

Do Not Touch

Children are curious by nature, but there are some common household items that they simply must refrain from touching. These include a fan, paper shredder, space heater, scissors and other sharp objects that could pose a serious risk for your little one. Make sure that these items, along with anything similar, are kept out of reach. All electrical appliances, including hairdryers, styling products and appliances must be stored away from water and out of your child's reach to prevent injury.

Speaking of which, all electrical outlets should be covered with outlet covers and any small items, including marbles and coins, must be picked up and kept out of your child's reach. Because children love to see what they can fit into their mouths, it's important that they not be left alone near these items.

Safety At Play

When your child is outside, make sure that the environment is a safe one. This means that your yard should be completely fenced with a locked gate to prevent him/her from wandering out into the street. It's always a good idea to keep an eye on your child, but it's even better to make sure that he/she is safe if you happen to glance away for a second.

Don't foreclose! Do a short sale

2010-05-05T14:20:00.001-07:00

Don't foreclose! Do a short sale on your Paradise home

Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks, when the government starts handing out cash to encourage lenders to close these deals.

Banks have ramped up short sale approvals.

These transactions, where lenders allow homeowners to sell their houses for less than they owe, accounted for 17% of all residential real estate sales in February, up from nearly 13% in November, according to a monthly real estate market survey by Campbell/Inside Mortgage Finance.

And Bank of America (BAC, Fortune 500), the country's largest mortgage servicer, has more than doubled the number of short sales it processed in recent months.

Contact me to Short Sale your home! 530-413-8383

May 19 - Willy Wonka, Jr. – playing in Chico CA

2010-05-03T20:12:00.001-07:00

Willy Wonka, Jr.

Wednesday, May 19 7:30p

at California State University - Chico: Laxson Auditorium, Chico, CA

Price: $12 Adult $10 Senior $8 Student/Child

Phone: (530) 898-6333

The young performers of The Playhouse bring to life the timeless story of the world famous candy man and his quest to find an heir in this stage adaptation of Charlie and The Chocolate Factory. In this performance by kids for kids, you'll hear "The Candy Man," "Pure Imagination," "Oompa Loompa," and "I Want it Now." Sure to be a hit with the whole family!
If you enjoy Willy Wonka, Jr. you may also enjoy: Alice in Wonderland, Jr. | Igudesman & Joo: A Little Nightmare Music | Yamato Taiko | The Hobbit | Sleeping Beauty | Peking Acrobats | The Edlos: A Cappella Broadway | A Year With Frog and Toad | The Handsome Little Devils - Squirm Burpee Circus | Comedy Pet Theater | Moscow Circus

Technorati Tags: Performing Arts,Chico Events

Paradise Home Buying Negotiating Tips

2010-04-28T10:59:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Paradise Home Buying Negotiating Tips

When it comes to buying a Paradise home, the ability and willingness to negotiate is a must for both the buyer and seller. In general, sellers ask for more than they are actually willing to accept and buyers offer less than they are willing to pay. The trick is to find the perfect balance so that you, as a buyer, feel good about the purchase price without leaving the seller feeling insulted.

Know Your Paradise Market

Real estate is a business that either favors the buyer or seller, hence the terms buyer's market and seller's market. When negotiating a purchase price, it's important to know which of the two you are in. As the buyer, you will have the best chance at a successful negotiation if you research the price of other comparable homes in the Paradise area before making an offer.

Make It Personal

When you make an offer, the seller will see nothing more than a piece of paper with some numbers on it that represent the price you are willing to pay. If you really want the seller to take your offer to heart, let them know why you want to buy the home. You can do this by preparing a handwritten letter expressing your interest and the reasons you fell in love with their house. If you have a family, tell them about everyone who will be living in the home. Let them get to know you and allow them to picture the happiness that you can bring to their house. Believe it or not, some sellers actually look at the process like finding a good home for a lost puppy. They want quality people to buy their home, so do your best to show them that you are sincere.

Nobody Likes Rejection

Not every offer is accepted, so don't be disheartened if your first offer isn't a winner. In some cases, the seller will make a counteroffer for your consideration. Have you ever heard the old saying, “never take the first offer?” The same is true in real estate and almost every seller thinks it. Your first offer is likely to be less than you are actually willing to pay, which leaves you some bargaining room.

Why Your Offer May Not Be Accepted

There are a number of reasons why a seller may choose to reject an offer, including a feeling that the offer was just too low, the house is newly listed on the market or another offer may be higher than the one you created. In some cases, sellers may also reject an offer that includes owner financing or other requests that are impossible to meet. One example may be an offer that requires the house be available within a certain amount of time. Most contracts require that the seller move out within 30 days, but anything less would require negotiation.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

About the Author: Tammy Vertrees is a full service real estate agent serving the discerning needs of clientele throughout Butte County, California. Ms. Vertrees specializes in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas. Ms. Vertrees provides clients with a strong level of comfort, powerful negotiation skills and use of the latest technologies.

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Real Estate Negotiating Tips,Home negotiating tips Home,buying tips

Should you buy or rent a Paradise CA home? Cost gap narrows

2010-04-27T08:27:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Should you buy or rent a Paradise CA home? Cost gap narrows

Affordable home prices and low interest rates have created an ideal time for many buyers to purchase homes, and now a new week-long look at homeownership confirms it. The national study, conducted for The Associated Press, shows that the difference between monthly rents and mortgage payments is at its lowest level in nearly 20 years.

The analysis of 45 metro areas found the difference between the monthly mortgage payment on a median-priced home and the median rent has declined to $256. In some areas, the difference is as low as $100, according to the study. The last time the price gap was that close was in 1993, when it decreased to $264.

The study, conducted by Marcus & Milichap Real Estate Investment Services, used median prices for the last three months of 2009 and calculated mortgage payments by assuming a 10-percent down payment and a 30-year fixed loan at 5.07 percent. It also assumed borrowers paid for private mortgage insurance and didn’t include repair costs and tax benefits.

Although the difference between monthly rent and monthly mortgage payments is at its lowest level in nearly 20 years, more stringent lending standards have made the home-buying process more challenging. Home buyers can prepare by ensuring their credit reports are up to date and saving for a down payment of at least 20 percent. Borrowers putting down less than 20 percent likely will have to purchase private mortgage insurance.

Owning a home has significant tax benefits, including deductions for property taxes and loan interest. Homeowners also can enjoy building equity and creating a means of forced savings as they pay down the principal on the home.

Although home buyers should not focus solely on future home price appreciation, according to data collected by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) over the last 40 years, homeowners who purchase a median-priced house, live in it for at least five years, and sell it at the then-current median price, have averaged an annual rate of return of more than 11 percent.

Good timing could reap double tax credits

2010-04-26T12:15:00.001-07:00

Good timing could reap double tax credits

Kathleen Pender

Darryl Bush / The Chronicle

Home buyers Steve and Judy Lewicky of San Francisco peruse the dining room during an open house in San Francisco.

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Some home buyers in California could get a federal tax credit worth up to $8,000 plus a new state credit worth up to $10,000 if they time their purchase just right over the next three months. But double-dipping will be tricky and won't come without risks.

One couple who lucked out are Sibel Demirmen and Scott Henry of San Francisco, who are purchasing a home, their first, in San Rafael's Terra Linda neighborhood.

They were planning to close escrow on April 30, and knew they qualified for an $8,000 federal home-buyer tax credit.

To get the federal credit, buyers must - among other things - close before May 1 or enter into a binding contract before May 1 and close before July 1.

Last weekend, they learned that if they could delay their close until after April 30, they could also qualify for the new California home-buyer tax credit, which was signed into law last week. The state credit is worth up to $10,000, spread over three years.

The seller agreed, and on Monday they signed an addendum to their contract postponing the closing until May 4.

"I was elated. I was ecstatic. I was thrilled," says Demirmen, a singer, music teacher and mother of two.

Although the prospect of double-dipping will excite many house hunters, "I don't think a ton of buyers will get both and benefit from both credits," says Renee Rodda, editor of Spidell's California Taxletter.

To get both, buyers must meet two sets of strict criteria. Timing it right will be tricky, especially in foreclosure or short sales, which can involve long lead times and many parties.

People who have already locked in a rate on a mortgage could lose the rate, or have to pay an additional fee to keep it, if they postpone their closing.

Matt Duffy is buying a home with his wife in Santa Rosa in a short sale, in which the purchase price is less than the debt on the home.

The seller accepted their offer in January. Last week, they heard that both lenders agreed to the deal as long as it closes by April 26.

"We said, 'Cool, we can do that.' We have our mortgage and the federal tax credit," he says.

After reading my Sunday column on the state credit, Duffy realized he could get that too if he delayed his close.

"As it turns out, we are not going to be able to do that. The second lender is demanding we close by April 26 or somebody has to pay an additional $20,000," he says.

"I am of course upset we can't move the date. But we don't want to lose the house. We will still get the federal credit, which is the better of the two credits."

The federal credit: The federal credit is 10 percent of the purchase price, up to a maximum credit of $8,000 for first-time home buyers or $6,500 for longtime homeowners who buy a replacement home. Either type of buyer can purchase a new or existing home.

Buyers claim the federal credit when they file their tax return (or amend the prior year's return). This credit is refundable: The full amount will be paid out, even if you have zero federal tax liability or the credit is bigger than your federal tax.

You cannot get the federal credit if your income is too high or the home was purchased after Nov. 6, 2009, and cost more than $800,000.

The state credit: The California credit is the lesser of 5 percent of the purchase price or $10,000. First-time buyers can purchase a new or existing home but repeat buyers can only purchase a new home that has never been occupied.

The California credit is spread over three years, up to $3,333 per year. It is not refundable: If you owe less than $3,333 in one (or more) of those years, you lose the difference that year. Even if you owed $3,333 before you owned a house, you might owe less after because of all the new tax deductions.

The state credit has no income or purchase-price limits. But here's the rub: Some buyers who fall below the income limits for the federal credit might not owe enough California tax to get the full benefit of the state credit.

To get the California credit, you must close escrow between May 1 and either Dec. 31 or whenever the money set aside for the program runs out, whichever comes first. The money is likely to run out long before Dec. 31.

Alternatively, you can reserve a state credit for new construction by entering into a binding contract between May 1 and Dec. 31 and closing before Aug. 1, 2011. People who do this won't get the federal credit because they entered a contract after April 30.

Getting both: Both credits require you to buy the home as your primary residence. Both define a first-time buyer as someone who has not owned a home in the three years prior to purchase.

In short, to get both credits you must be in contract on or before April 30 and close between May 1 and June 30 - and meet all other requirements.

Buyers who are already in contract and want to postpone their closing need to get the seller and lender to agree.

"Sellers might be flexible because it's still a buyer's market, but they may want something in return," says Richard Redmond, a mortgage broker in Larkspur.

"If you have a loan locked in with a close date in April and you want to extend it, you may have to pay a fee or get a higher interest rate," Redmond adds.

Buyers should consult a well-informed tax person and make sure they understand both credits.

For more on the state credit, see links.sfgate.com/ZJLF.

For the federal credit, try links.sfgate.com/ZJLG or links.sfgate.com/ZJLH.

Energizing Foreclosure Mitigation Counseling

2010-04-23T12:05:00.001-07:00

Energizing Foreclosure Mitigation Counseling

CalHFA is pleased to announce that it has just been awarded over $3.4 million through NeighborWorks® America to provide counseling to families and individuals facing the threat of foreclosure. This is in addition to previous CalHFA awards totaling $12.6 million, which have already provided nearly 50,000 counseling sessions for Californians who are struggling with their mortgage payments.

At a time when foreclosures continue to rise and unemployment figures reach near record levels, CalHFA recognizes the critical, ongoing need for this type of funding. The Agency will work with its long-time partner, RCAC, the Rural Community Assistance Corporation, to provide this vital counseling through dozens of nonprofit, HUD-approved counseling agencies.

Acting Executive Director of CalHFA, Steve Spears, is very appreciative of the scope of CalHFA's award. "Our allocation of $3,446,188 is the largest amount awarded to any of the 35 state housing finance agency recipients. We will put these funds to immediate use to assist Californians in need."

For more information, see the NeighborWorks America press release here:
http://www.nw.org/network/newsroom/pressReleases/2010/netNews041610.asp

No More State Tax on Forgiven Debt

2010-04-23T11:44:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

NO MORE STATE TAX ON FORGIVEN DEBT

Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification. Enacted into law yesterday, Senate Bill 401 generally aligns California's tax treatment of mortgage debt relief income with federal law. For debt forgiven on a loan secured by a "qualified principal residence," borrowers will now be exempt from both federal and state income tax consequences. The existing federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.

"Qualified principal residence" indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence. It includes both first and second trust deeds. It also includes a refinance loan to the extent the funds were used to payoff a previous loan that would have qualified.

The tax breaks apply to debts discharged from 2009 through 2012. Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.
Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions. Most notably, taxpayers who are bankrupt are exempt from debt relief income tax. Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.

For more information about mortgage forgiveness tax consequences, go to California Franchise Tax Board's Mortgage Forgiveness Debt Relief Extended webpage and the Internal Revenue Service's Mortgage Forgiveness Debt Relief Act and Debt Cancellation webpage. The full text of Senate Bill 401 is available at www.leginfo.ca.gov.

C.A.R. provides REALTORS® with many legal articles covering a wide range of topics of interest. Some of the new or newly revised legal articles available at http://qa.car.org/ are as follows:

__________________________________________________

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

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Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Mortgage Debt,Short Sale advice,Real Estate Talking Points

Interest in real estate investment triples

2010-04-23T11:42:00.001-07:00

Interest in real estate investment triples

Interest in purchasing real estate as an investment has more than tripled in the past year, according to a survey conducted by Move, Inc. Nearly 17 percent of potential home buyers said they plan to purchase a home in the near future as an investment compared with 5.6 percent in March 2009, according to the survey.

The survey also found more than 10 percent of Americans planning to purchase investment property in the near future said they will pay for the property using 100 percent cash, and 12.8 percent will use cash for more than 50 percent of the purchase price and finance the remainder. Nearly half reported they will buy the property with less than 50 percent cash down and finance the remainder. Nearly half of the potential real estate investors said they plan to own the property for six or more years; 16 percent expect to hold the property between two and five years; while 10.6 percent plan to own the property between six and 24 months.

While interest by potential home buyers in purchasing a foreclosure to live in has declined 31.1 percent in the past five months to 26.5 percent, the survey found interest in purchasing a foreclosure as an investment is on the rise, with interest in purchasing a foreclosure as an investment to fix it up and resell rising 42 percent in March.

Existing Home Sales - Market Update

2010-04-22T12:54:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Paradise Chocolate Fest Goes to Zero Waste! Volunteers Needed

2010-04-21T16:13:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Paradise Chocolate Fest Goes to Zero Waste! Volunteers Needed

This year NRWS has teamed up with the Chocolate Fest to make this years Festival a Zero Waste Event. The goal is to compost and recycle over 93% of the waste. Vendors have been instructed to only use recyclable or compostable material. There will be 5 “Zero Waste Stations” on site with information booths and students from Evergreen 6 to help our
community learn more about the importance of recycling.

Volunteers are needed to help make this event a success. If you would like to
participate please contact Jennifer at 876-3345.

Together we can make a difference.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Chocolate Fest,volunteer,events,festivals

Paradise CA Weekly Real Estate Market Report – includes Magalia CA

2010-04-21T13:11:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

About: Tammy Vertrees is a full service real estate agent serving the discerning needs of clientele throughout Butte County, California

Ms. Vertrees specializes in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas. Ms. Vertrees provides clients with a strong level of comfort, powerful negotiation skills and use of the latest technologies.

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Weekly Market Report,Real Estate Market

Web Exposure – Sell your paradise or magalia CA home

2010-04-21T12:00:00.001-07:00

Web Exposure.

The Internet is the most powerful marketing tool in today's home selling business. Although chances are fairly high that your home will be sold to a buyer who used a local Real Estate agent, most buyers begin their home search long before they decide to work with a Realtor. Give your listing the maximum exposure it deserves.

Call me to get your home this MAXIMUM EXPOSURE! 530-413-8383

CALIFORNIA'S TAX CREDIT MONIES MAY GO FAST

2010-04-19T12:41:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

CALIFORNIA'S TAX CREDIT MONIES MAY GO FAST

The $100 million allocated for California's first-time homebuyer tax credits may be depleted in about 10 to 20 days or sooner, according to C.A.R.'s Economics team. California's Franchise Tax Board (FTB) plans to begin accepting applications on May 1, 2010 for tax credits up to $10,000 for first-time homebuyers and for homes that have

never been previously occupied. However, the total tax credit allocation for all taxpayers is $100 million for first-time homebuyers and $100 million for new homes, both on a first-come, first-served basis.

C.A.R.'s forecast of 10 to 20 days to deplete the $100 million allocation for first-time home buyers is based on estimated May sales figures and other parameters. It does not take into account the possibility that buyers scheduled to close escrow in April may delay closing until May to take advantage of the tax credit. If a shift in closings from April to May occurs, the first-time homebuyer tax credits may be depleted even more quickly than indicated above.

Applications for the California tax credit must be faxed to the FTB after escrow closes. The FTB will update its website when the 2010 application form and other information become available.

REALTORS® are reminded not to give their clients any tax or legal advice, such as the availability of funds under the California tax credit program. Agents should encourage their clients to seek specific advice from an accountant, attorney, or other professional as they deem appropriate.

For more information, please refer to C.A.R.'s Homebuyer Tax Credit Chart 2010.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

feather river hospital receives state recycling award

2010-04-18T20:53:00.001-07:00

Feather River Hospital receives state recycling award

CalRecycle, the states recycling & waste reduction agency has recognized Feather River Hospital for their recycling efforts for the second time with the Waste Reduction Awards Program (WRAP).

Under Director of Environmental Services Robert Crawford, the facilities
have increased their recycling program diverting on average 40,000 pounds
per month from the landfill. The environmental sustainable culture the
hospital has fostered required changes in daily routine and education.
NRWS & the Town of Paradise thanks Robert and the entire hospital
staff for this achievement.

NRWS staff assisted FRH in a tailored program that worked in the
heavily regulated hospital environment. NRWS is here to help you and
will at no charge help make a site specific plan for our customers. On average
commercial businesses recycle less than 17% of material. Increasing recycling beyond cardboard is easy and cost effective. Join our community efforts today for a better and sustainable tomorrow.

Robert Crawford
with three of the hospitals four 6 yard recycling bins, and one of
the multiple carts used to transfer material around the facility

Does Moving Up Make Sense?

2010-04-16T20:03:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Does Moving Up Make Sense?

The following are some questions that will help you decide whether you’re ready for a Paradise home that’s larger or in a more desirable location than your current one.

If you answer yes to most of the questions, it’s a sign that you may be ready to move.

Have you built substantial equity in your current home?

Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.

Has your income or financial situation improved?

If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

Have you outgrown your neighborhood?

The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job, relatives, or live in a better school district.

Are there reasons why you can’t remodel or add on?

Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.

Are you comfortable moving in the current housing market?

If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.

Are interest rates attractive?

A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

Wondering What Your Home Is Worth? -- Let me show you.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

Technorati Tags: Moving Up,Move-Up Buyers,Home Upgrading

May 1 - American Cancer Society Relay For Life in Chico CA

2010-04-16T08:10:00.001-07:00

American Cancer Society Relay For Life

Saturday, May 1 8:00a

at Pleasant Valley High School, Chico, CA

Relay For Life®, the American Cancer Society's signature event, is a fun-filled overnight experience designed to bring together those who have been touched by cancer. At Relay, people from within the community gather to celebrate survivors, remember those lost to cancer, and to fight back against this disease. read more

Phone: (337) 356-3567

Age Suitability: All Ages

Tags: cancer fundraising volunteer teen community

Sign up today to become a part of the Relay For Life® effort in your community, and you too can fight back against cancer.

Technorati Tags: Relay for life Chico Events

Quit making your landlord RICH!

2010-04-15T10:57:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Quit making your landlord RICH!

Yes You Can Own A Home!

Here’s How To Quit Making Your Landlord Rich and Put Your Hard Earned Rent Money Back Into Your Own Pocket

Helping another person pay off their mortgage does not make any sense, yet this is exactly what renters are doing each and every month. Your rent payment only helps your landlord. After only a few short years, most landlords have completely paid off their mortgages thanks to their renters. Now they own real estate free and clear. Is there any wonder why most landlords end up owning more and more apartment rentals!

But you can stop helping your landlord and begin helping yourself. All you need to do is simply find a home with a monthly payment roughly equal to your rent payment. And there are many homes that may just do that for you.

I offer a free, no obligation meeting for my rental clients where we explore this opportunity. I would be honored to meet with you to determine your home needs.

Please feel free to contact me by email or telephone to arrange a time best for you.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

I am a full service real estate agent serving the discerning needs of clientele throughout Butte County, California

I specialize in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas.

Visit me on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Home Buyers,Renters,Home Renters,First-Time Homebuyers

Median list price rises in March

2010-04-14T20:04:00.001-07:00

Median list price rises in March

The median list price of homes increased by 1.07 percent in March to $263,754, and the median price reduction declined 3.02 percent to $20,200, based on homes surveyed by ZipRealty for its monthly review of Multiple Listing Services in 26 major U.S. markets.

San Diego and San Francisco were among the housing markets with the lowest percentage of price-reduced MLS-listed homes. In total dollars, San Francisco, Orange County, San Diego, and Los Angeles were among the markets with the largest median price reduction.

Weekly Paradise California Real Estate Market Report, including Magalia CA

2010-04-13T11:26:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

California expected to cancel tax on forgiven mortgage debts

2010-04-13T10:28:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

California expected to cancel tax on forgiven mortgage debts

By Jim Wasserman
jwasserman@sacbee.com

Published: Tuesday, Apr. 6, 2010 - 12:00 am | Page 6B

Relief appears imminent for thousands of Sacramento homeowners hit with state tax bills for mortgage debts forgiven in 2009.

State lawmakers said Monday they plan to cancel the state tax obligations with a vote Thursday.

Shannon Murphy, spokeswoman for Assembly Speaker John Pérez, D-Los Angeles, said legislation will go before the Assembly Revenue and Tax Committee today and the Appropriations Committee on Wednesday, and will receive a full vote Thursday.

A similar Senate floor vote planned Thursday would send the bill immediately to Gov. Arnold Schwarzenegger, who has repeatedly stated his support. The new bill is similar to one he vetoed March 25. But this time it omits a part he opposed – financial penalties for businesses that routinely seek state tax refunds. Democrats removed the section despite their contention that some firms "fish" for refunds whether or not they're owed.

Monday, Schwarzenegger spokesman Mike Naple said the governor "hopes the Legislature fully addresses the concerns raised in previous versions of this bill."

The new movement means that Californians who got unexpected tax bills of $10,000 or more in recent weeks could soon be off the hook. Most are borrowers who received loan modifications last year or lost their houses in short sales, in which banks accept prices below what they're owed. In both cases, lenders forgave some of the debts owed them, a process that exposes borrowers afterward to taxes.

"We want to get it done before the (April 15) tax deadline," said Alicia Trost, spokeswoman for Sen. President Pro Tem Darrell Steinberg, D-Sacramento. "We don't want to have people jump through hoops."

Many across the state have anxiously waited for the state to resolve the issue before the tax filing deadline – or have filed extensions.

Typically the state and federal governments view forgiven home loan debt as additional income and tax it. But both have backed off amid the housing crash. The federal government has suspended taxes on forgiven mortgage debt from 2007 through 2012. California suspended it for the 2007 and 2008 tax years. But disagreements over the business tax refunds stalled a bill extending it to 2009.

The bill being considered this week, Senate Bill 401, would cancel state tax obligations for forgiven mortgage debt through the 2012 tax year. The Assembly planned Monday to rewrite SB 401 from a bill regarding tax shelters to one that aligns much of California's tax law with that of the IRS. That includes canceling taxes on forgiven mortgage debt and on recipients of federal renewable energy grants.

"We haven't done a tax- conforming bill for four years, so it's important to get that done," Trost said Monday.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

Tammy Vertrees is a full service real estate agent serving the discerning needs of clientele throughout Butte County, California

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Mortgage Debt,Real Estate Tax

Government launches effort to help homeowners in short sales

2010-04-12T16:16:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Government launches effort to help homeowners in short sales

By Alan Zibel

Associated Press

WASHINGTON — The government launched a new effort Monday to speed up the time-consuming, often-frustrating process of selling your home if you owe more than it's worth.

The Obama administration will give $3,000 for moving expenses to homeowners who complete such a sale — known as a short sale — or agree to turn over the deed of the property to the lender. It's designed for homeowners who are in financial trouble but don't qualify for the administration's $75 billion mortgage modification program.

Owners will still lose their homes, but a short sale or deed in lieu of foreclosure doesn't hurt a borrower's credit score for as much time as a foreclosure.

For lenders, a home usually fetches more money in a short sale than a foreclosure. And the bank avoids expensive legal bills, cleanup fees and maintenance costs that follow a foreclosure.

"It's very traumatic and embarrassing and frustrating to go through a foreclosure," said Laurie Maggiano, policy director of the Treasury Department's homeownership preservation office. With a short sale, she said, "your financial issues are your own problem and not neighborhood conversation."

Falling home prices and lost jobs have forced many sellers into this position. For example, in Orange County short sales made up about 26 percent of the market in March, compared with 17 percent a year earlier, according to data complied by Altera Real Estate, a local brokerage.

In the Minneapolis-St. Paul metro area, about 12 percent of all deals since October were short sales, up from about 8 percent a year earlier, according to the Minneapolis Area Association of Realtors.

The expanded incentives will help accelerate short sales, said Mark Zandi, chief economist at Moody's Analytics. He expects 350,000 homeowners nationwide to use the program through the end of 2012, more than double his earlier forecast.

A short sale appears to be the only way out for Brandee Chambers, 36, of Las Vegas. She got into trouble during the housing boom by taking out a risky loan against her home and using the money to buy two investment properties in Phoenix.

She later lost those two properties to foreclosure, and now she is trying to sell the home she lives in for $209,000, but the mortgage balance is $350,000.

Chambers, who owns two hair salons, says she would rather stay in her home, where she lives with her 14-year-old son. But she had no luck getting help with her loan. She said she's resigned to scaling back her lifestyle and renting out an apartment.

"I've had to accept a lot in the last year," she says.

For buyers, though, short sales can be a great opportunity.

Marco Cappelli, 49, a winemaker from Northern California, is planning to buy a short sale this month in the Sierra Nevada foothills. He and his wife are paying $214,000 for a property that had been listed at $270,000. The pair plan to fix it up, install a hot tub and rent it out to vacationers.

Along with the financial incentives, the new government program makes another key change. Mortgage companies will have to set their minimum bid before the house is listed for sale. If the offer is above that, the lender must accept it.

That's a big change from current practice. Lenders generally don't calculate how much money they are willing to accept on a short sale until they have an offer in hand, causing long delays before the sale is approved.

The new program "will give us a degree of efficiency that we have not had in the past," said Matt Vernon, Bank of America's executive in charge of short sales and foreclosed properties.

Under the new process, buyers who submit an offer to purchase a home in a short sale should get a response within two weeks, as opposed to months. If that happens as planned, it would be a big improvement. Real estate agents across the country have complained that lenders are often difficult to reach, sometimes only communicating by e-mail and infrequently at that.

"You're one of 400 properties on a screen," said Dave Bauer, a real estate agent in Danville.

Some real estate agents who specialize in short sales are optimistic. "It could be the first government program that actually helps Las Vegas," said Steve Hawks, a real estate agent there who specializes in short sales. Most borrowers in Las Vegas, he said, owe so much more on their mortgages than their properties are worth they can't qualify for a loan modification.

The Treasury Department outlined the plan in November, but doubled the original $1,500 in relocation money after realizing that many homeowners need more cash to move out. That's because landlords usually want large deposits from people whose credit records have gone sour after missing mortgage payments.

However, there are plenty of restrictions. To qualify, the home needs to be a borrower's primary residence. Homeowners either have to be behind on their mortgages or on the verge of becoming delinquent.

Currently, the program is not available for mortgages owned or guaranteed by mortgage finance companies Fannie Mae and Freddie Mac, though the two government-controlled companies will soon follow suit, said the Treasury's Maggiano.

_________________________________

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

: Tammy Vertrees is a full service real estate agent serving the discerning needs of clientele throughout Butte County, California

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Short Sale,Short sale advice,Sell your home

Common Misconceptions Among Home Buyers

2010-04-12T13:11:00.001-07:00

Common Misconceptions Among Home Buyers

Misconception: If you pay list price, you're paying too much.

If you don't know what the current market value is for homes in the area and whether the market is appreciating or depreciating, you don't know what a fair price is and you're likely to miss out on a great deal by trying to low ball a house that's already priced well.

If the house meets your goals, is within your budget, and is priced competitively, it's a bargain and you should make a strong offer. Get assistance from a professional to help you recognize a good deal and grab it before it's gone.

Misconception: Foreclosures and short sales are the best buys.

Many buyers find out the hard way that foreclosures and short sales are full of headaches, may need extensive repairs, require great patience over an extended period, often don't have the criteria that's most important to you, and may never close.

Short sales abound in Butte County and many people are starting to avoid them because the pain isn't worth the gain. Foreclosures can be less troublesome, but often in poor condition with challenges that may take longer than normal to resolve. Market prices have corrected in many places, including Butte County, and it's possible to find great deals in homes that are priced like short sales, but don't have the headaches.

Misconception: You get a better price if you buy directly from the owner.

Bargain hunters sometimes avoid Realtors, thinking that they will get a better price if they buy directly from a FSBO. Meanwhile, the sellers are also trying to save on the commission, so they're not getting expert advice either and often price their homes above market value.

The end result is often that a buyer pays too much or the FSBO is unable to get the house sold. A savvy Realtor working on the buyer's behalf, armed with market data and great negotiation skills, is much more likely to get a great deal than buyers can by negotiating for themselves.

If you're buying a house, it's a great idea to find a good Realtor and listen to their advice.

Technorati Tags: Find a Realtor Find your home Foreclosures Home Buying mistakes

A Golden Opportunity In California for Homebuyer Tax Credits

2010-04-11T16:26:00.001-07:00

A Golden Opportunity In California to Double Dip on Overlapping Homebuyer Tax Credits

If EVER there was a reason to get off the fence and BUY YOUR HOUSE in California, this is it. We're talking a once in a lifetime, 24 karat golden opportunity to have the government subsidize your home purchase for up to $18000 in tax credits.

But the window of opportunity is EVER so brief if you are going to attempt to double dip and get both the state and the federal tax credits.

Here's how the double dip works: The federal home buyer tax credit for first time buyers states you must be in contract to buy your house by April 30th and close before June 30th to be eligible for the credit.

But a newly enacted California stimulus for home buyers actually OVERLAPS the federal first time home buyer tax credit!

You can also receive $10,000 in tax credits as a first time buyer, from the State of California for transactions that CLOSE after May 1.

If you have followed me so far (and there are 18,000 reasons to pay attention and follow) you have probably figured this out:

By being in a RATIFIED CONTRACT before April 30, you can qualify for the $8000 first time homebuyer tax credit from the Federal government (as long as it closes by June 30)
By CLOSING that RATIFIED CONTRACT after May 1, you can qualify for the $10,000 first time homebuyer tax credit from the State of California.

ADVICE:

Already in contract and set to close at the end of April? A delay of close until May 3 will not endear you to your Realtor or to your seller, but could qualify you for $10,000 in tax goodies (May 1 and 2 are a weekend).

If you are NOT already in a contract, you are going to need to contact a mortgage professional and get thoroughly pre-approved NOW. Make sure closing the loan before June 30th will be possible based on your situation. (60 days is NOT unreasonable for most loans).

Once preapproved, seek out a great Realtor who knows the ropes, will work FAST, and will work as a team with your chosen mortgage professional.

Disclaimers: As a mortgage professional, I am not qualified to give tax advice. Please consult your tax advisor. Be aware there are income limitations on the federal tax return, and there could be other factors that limit your ability to receive the tax credits.

$10,000 California tax credit

$8,000 Federal tax credit

Written by: Janet Guilbault - California Mortgage Banker/Broker

Things Needed After Purchasing a Home

2010-04-10T14:52:00.000-07:00

Things Needed After Purchasing a Home

Now that you've signed all the paperwork and your loan is approved, it's time to move in. But wait! Before you put your feet up, there are a few things that you will need in order to make your new house a home.

Locks

Regardless of whether you purchase a newly constructed home or one that was formerly owned by someone else, it's important that you have the locks changed. Everyone from REALTORS® and contractors to friends and family of the former owner may have a key, which is why getting new locks should be at the top of your list.

Furnishings

You can't hang your hat without a hat rack, so don't forget to add some necessary furnishings. Some homes may include appliances and possibly even some furniture, but most homeowners prefer to decorate their house themselves. After all, someone else's taste in decor may not necessarily be the same as your own. If you purchase from a furniture store, they will handle the delivery for you. Otherwise, you can hire a moving company.

Appliances & Cookware

Even if your new home is equipped with appliances, you may still need to add a few items into the mix. For instance, a coffee maker, toaster, microwave or blender may be items you want for your kitchen. You will also need flatware, tableware and a quality dish drainer to hold your dishes that require the hand wash method.

Tools

When you move into a new home, there will likely be some things to do that require the use of tools. Whether you need to assemble furniture, a desk for your office or just need to tighten some bolts here and there, a good set of tools is a necessity.

Personal Touches

No home is complete without personal touches that represent the new owner's taste, so don't forget to include them on your shopping list. Pictures, paintings, special window dressings, accent pillows, plants, decorative throws, accent rugs and bedding sets will create a custom interior that's all about you. Other things to consider include portable air cleaners, water filters, an answering machine, wastebaskets and a bathroom plunger.

Outdoor Décor

If you like to entertain, equipping your backyard accordingly is a must. Patio furniture, an outdoor grill, landscaping tools and garden supplies are essential to creating an outdoor atmosphere that your family and friends are sure to love. Speaking of the outdoors, don't forget to purchase a lawnmower and trimmer unless you live in a subdivision where lawn care is included in the maintenance fees. If you live in an area that's prone to snowfall, keep this in mind when shopping for maintenance supplies.

The best way to tackle a large list of necessities is to keep a pad of paper nearby and write down each item as you think of it. Think about each area of your new home and do a mental inventory of what is needed. There will always be new items to add to the list, but you will cover the basics with your handy checklist of necessary items for your new home.

For information on Paradise, Magalia, Chico, California and surrounding areas, contact me directly at 530-413-8383 or check out www.TammysRealty.com or my Localism Blog.

Real Estate Consultant
Coldwell Banker Ponderosa Real Estate
530-413-8383
www.TammyVertrees.com

Technorati Tags: Home Decorating,After Close of Escrow

Selling Your Paradise Home In a Market Full of Foreclosures

2010-04-09T11:42:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Selling Your Paradise Home In a Market Full of Foreclosures

Take a look in just about any Paradise neighborhood and you may find the sign of distressed times. Foreclosures are on the rise and that can cause a lot of panic for sellers who aren't in the same financial crisis.

The increase of awareness about Paradise foreclosures is stimulating buyers to keep fishing and pushing for even lower prices for homes.

So the sellers who are not in foreclosure or who are not in distress have to compete with those properties with the same pool of buyers. So there are two things that they can do; the two things are: pricing the property so it is competitively priced … and they have to make sure that the property shows in absolute perfect condition. The more choices the buyer has, the more critical the showing condition.

Get clear about your market-length time. Having an accurate picture of how long you can have your home on the market will help you to price it correctly. Remember, that buyers aren't going to pay a premium price out of sympathy simply because the seller owes more on the mortgage. Price your home based on it’s worth, not on what you owe.

Work with an agent. Now more than ever, an experienced agent can help provide the advice and knowledge sellers need to get their home sold. Agents can also help to aggressively market your home so that it doesn't get lost in a sea of foreclosure homes.

Price your home correctly from the start.

All too often sellers end up taking a humble ride down and diminishing their possible gain. They end up chasing the market down -- whether they realize it or not. Price is critical. When determining price, don't just look at computer screen shots of homes that are selling in your neighborhood, get in the car and take a ride around to view the exterior and interior of properties that your home will be competing against -- that's exactly what buyers will do. Overpricing your home will cause it to sit on the market for an extended period. Eventually your listing will become stale and you may receive many lowball offers from buyers who are simply fishing to see how low you'll go. If a home is slightly underpriced you can generate more attention and improve your chances of getting a qualified offer.

Choose the best methods to promote your home. Nowadays, advertising isn't really important because every buyer has access to almost complete information via the Internet -- everyone can find the properties. Advertising used to be important when buyers didn't have access to the property or a way of finding the property, but now buyers can do their own shopping, searching, and finding. They're going to do that based on their perception of value and how it's priced based on the other properties that they are looking at. However, that doesn't mean you shouldn't have virtual tours and lots of pictures loaded on websites that feature your home -- buyers like to preview before they actually see the home in person.

Make your home the best value - Buyers are going to look at all their options. We have to make it painfully obvious that we're the best value. It doesn't always mean the lowest price. It may mean a nicer house for the same price. It may mean having more goodies for the same price. It may mean having a lower price, but the buyers have the information and prices of what's available and they will choose the one that is the best value -- and we're either going to help sell the other homes or the other homes are going to help sell ours.

Wondering What Your Home Is Worth? -- Let me show you.

Technorati Tags: Sell your home,Selling your home

12th Annual Kids' Fishing Day - Saturday, April 17th, 2010.

2010-04-08T21:47:00.001-07:00

12th Annual Kids' Fishing Day - Saturday, April 17th, 2010.
at the Paradise Lake Parking Area

Come and Enjoy!
For kids' ages 3-15
Dutch Brothers Coffee, Snack Bar, Drinks, Free Raffles, Free Prizes!
Prizes for the biggest Trout!
Driving Directions

Donate to the Save-a-Can / Buy-a-Fish
For Kids' Fishing day and Receive a free

and take your Paradise water with you!

Minimum Donation $15.00 at the Paradise Irrigation District main office. 5325 Black Olive Drive, Paradise CA 95969

Would you like to be part of making this free-for-kids annual event possible?

Look for the Donation Boxes Around Town!
Print and Display the Flyer
Letter to Donors

_________________________________________________

New Playground Area at Paradise Lake

Young visitors to Paradise Lake can now enjoy the updated playground area. The rehabilitation project was presented to the lake committee in 2005 by Jennifer Barber as her senior project while at Paradise High School.

The surrounding cement block wall was built by the Paradise Rotary Club. The rubber bark which provides a safe area for young children was provided by a grant from the State of California Integrated Waste Management Board. The use of the rubber bark at Paradise Lake has stopped 3,325 tires from going to landfill.

Technorati Tags: Kid's Fishing Day,Paradise Lake

2010 Outdoor Living Trends for Paradise California

2010-04-08T11:55:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

2010 Outdoor Living Trends

Spring has sprung and while snow still lingers on lawns, patios and backyards, thoughts are turning to the great outdoors -- around the home.

However, those thoughts of leaving in-house hibernation behind are edged with economic concerns as homeowners take a less lavish look at how to move indoor living outside.

Buzzwords are "low" and "less" as low-maintenance landscaping, low-frill entertaining, even less technology are common in outside home improvement plans homeowners will undertake this year, according to the American Society of Landscape Architects (ASLA).

Homeowners want to create a sense of place for their family, friends, and neighbors to enjoy outside, but an uncertain economy means many will dial back some of the extra features we've seen in past years.

From Jan. 25 to Feb. 12, when the ASLA surveyed 182 residential landscape architects about the popularity of various design elements for 2010 they found homeowners were avoiding more expensive, elaborate items in favor of more essential ones.

Given most outdoor living spaces are an extension of the kitchen, ASLA, not surprisingly, found the most popular kitchen features was an outdoor grill (94.4 percent) and counter space (73.5 percent).

More elaborate outdoor refrigerators (52.8 percent) and sinks (50 percent) were much less popular.

For entertainment purposes, instead of stereo systems (57.2 percent), wireless/Internet connectivity (44.1 percent), outdoor heaters (43.9 percent) and TVs (35.5 percent), there was much greater interest in more utilitarian seating/dining areas (95.6 percent), installed seating like benches and seat walls (90.6 percent) or weatherized outdoor furniture (77.1 percent). However, the fire pit/fireplace (94 percent) remained popular.

This year homeowners are also looking to go 'green' outside to save time and money on upkeep.

Popular landscaping elements include low-maintenance landscapes (94 percent); drip/water-efficient irrigation (85.2 percent); native/adapted drought tolerant plants (85.2 percent); and less sprawling lawn (73.9 percent).

Other popular features include fountains/water features (87.8 percent) and food/vegetable gardens (78.5 percent).

Among the more expensive outdoor architectural features that remain popular were spas (hot tub, Jacuzzi, whirlpool, indoor/outdoor sauna; 79.1 percent); decks (83 percent), porches (76.4 percent) and swimming pools (72.4 percent).

Among the least popular items were sleeping spaces (5.6 percent); geothermal-heated pools (28.2 percent); outdoor cooling systems (36.5 percent); outdoor heaters (43.8 percent); solar-powered lights (49.4 percent); and sports/recreational spaces (tennis courts, bocce ball, etc.; 47 percent).

Wondering What Your Home Is Worth? -- Let me show you.

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Follow me on TWITTER

About the Author: Tammy Vertrees is a full service real estate agent serving the discerning needs of clientele throughout Butte County, California

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

Technorati Tags: Outdoor Living,Outdoor Decor,Living Outdoors

Spring has Sprung on Paradise Housing

2010-04-06T19:31:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Spring Has Sprung On Paradise Housing

The past 7 days have brought a solid ray of sunshine to the housing market. Not only did the January S&P/Case-Shiller Home Price Index rise for the eight straight month but SUPPRISE, SUPPRISE, SUPPRISE, February’s Pending Home Sales beat market expectations 8.2% (a decline of 0.2% was anticipated.

Steven A. Wood chief Economist at Insight Economics, LLC states:

"The S&P/Case-Shiller 20-City Home Price Index ROSE by 0.3% (seasonally adjusted) in January to 146.3, its eighth consecutive increase for the first time since September 2005 - April 2006 at the end of the boom."

“Home prices ROSE in January for the eighth straight month. This trimmed the year-on-year rate of decline to its slowest pace in 2 years. Although home prices are still falling on a year-on-year basis, there are increasing signs that home prices have begun to stabilize, even in some of those areas where the housing boom was quite substantial. In many regions, home prices have actually begun a modest recovery. Even in those areas where housing boomed the most, the rate of home price decline has slowed significantly. However, with unemployment remaining high, with mortgage delinquencies still climbing, and with more mortgage rate resets on Alt-A and Option ARM loans due to take place over the next year, home prices are still at risk for another dip.”

"Pending Home Sales ROSE by 8.2% in February to 97.6, compared with market expectations for a 0.2% decline. Pending home sales are counted when sales contracts are signed and a viewed as a leading indicator of existing home sales. This surge occurred despite the severe snow storms in mid-month and may reflect homebuyers' attempt to purchase before the expiration of the extended homebuyers' tax credit at the end of April. Pending home sales are 17.3% ABOVE their year ago level. The regional composition showed a huge increase in the Midwest, big gains in the South and Northeast, and a moderate decline in the West. However, in every region, pending sales are ABOVE their year ago level."

"Pending homes sales have plunged between October 2009 and January 2010 as the initial first time homebuyers tax credit expired. With the extended tax credit 'now set to expire at the end of April, homebuyers appear to be returning to the market. If that is indeed the case, another sharp run-up in home sales should occur through April before another sharp decline is experienced. A bottom has been reached in existing home sales and a recovery is underway but it is being heavily underpinned by government stimulus."

For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

Top 10 Home Buying Mistakes for Paradise & Magalia CA

2010-04-05T08:31:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Top 10 Home Buying Mistakes

Buying a home is perhaps the most arduous, expensive and, ultimately, valuable acquisition you'll ever complete

Just one mistake could mean disaster -- perhaps the worst mistake you'll ever make.

In order to avoid titanic trip ups during such a trying transaction, Paradise and Magalia buyers should get to know the most common home buying blunders.

To know them is to avoid them.

Going solo: Buying a house is a complex transaction. It should be a team effort. You'll need a REALTOR®, lender, inspector, insurer, perhaps a lawyer, and other team members to help you through each step of the way. Team build before you start the search.

Love at first sight: If you believe in fairy tales you probably shouldn't be buying a home. You won't live happily ever after if you emote your way through the home buying process. Your home should fit your real needs, not your yen for drama. Buy a home that fits your budget and your lifestyle. Be sure the home is in a community and neighborhood you desire. Visit neighborhoods several times before you buy to check out schools, noise and traffic patterns.

'Loanless' shopping: Being pre-qualified gives you a general idea of how much you can afford to borrow. It's better to be pre-approved for a given loan. Sellers will take you more seriously. You'll stay on budget.

Overbuying: Home buyers buying more than they could truly afford, in part, led to the collapse of the housing market. Buy more than you can afford and your dream home will become the same nightmare. Analyze all your monthly costs including debts, food, transportation, entertainment, and savings. Your total monthly debts, including your mortgage, should not exceed 36 percent of your income before taxes. Don't forget to budget closing costs (often two to five percent of the home's purchase price), plus moving, redecorating and maintenance. Look ahead and allow for increases in ongoing expenses such as utilities and taxes.

Misplaced trust: You are engaged in what's likely your most valuable acquisition ever. It's a business transaction. Ask family, friends, co-workers, professionals and others you trust for referrals, but don't take their word for it. Vet your team members.

Accepting oral agreements: Get it in writing. The rate lock, the home inspection, disclosures, the contract. Always. Should a dispute arise, you've got the details documented.

Skipping the fine print: Understand what's really in any document before picking up a pen. Get documents in advance, take time to read them and ask questions. Get copies of your mortgage and closing papers a few days ahead of closing.

Forgetting or betting on resale: Avoid buying a home that costs 50 percent more than neighboring homes. Reconsider buying the most expensive home on the block. Neighbors' lower home values will weaken yours. Buy intending to flip your investment only to have the market fail means when it's time to sell your price may not cover your costs.

Making an unconditional offer: Protect yourself with these contingencies:

1. Mortgage financing: You may be preapproved but is the house? A formal appraisal confirms -- or not -- that there is sufficient value in the home to warrant the loan. If the house appraises lower than the sales price, the loan may be declined.

2. Inspection: Never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.

3. Insurance: Confirm you can get adequate insurance coverage. In some areas, or following certain disasters, it can be difficult to get types of hazard insurance.

Wondering What Your Home Is Worth? -- Let me show you.

Technorati Tags: Home Buying Mistakes First Time Home Buyers Move Up Home Buyers

Finding your Ideal paradise CA Home

2010-04-02T08:16:00.001-07:00

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Finding Your Ideal Magalia or Paradise CA Home

As the old saying goes, real estate is all about location, location, location. But, there is a lot more to it than just plain geography when it comes to finding your perfect home. There are a lot of things to consider during the search because, for most, a home is the most significant purchase they will ever make.

Choose A Good Magalia or Paradise Area

When searching for your perfect home, the obvious place to start is with the selection of a location. If you have children, you may want to choose a home that is close to good schools and is also located in a family-oriented neighborhood. Many people also look for a home that offers a short commute to and from work. If you are shopping within a specific price range, you can also narrow the choices by finding an area that offers the best value for your dollar.

Select A Style

The perfect home for you is one that has all of the elements that you want. Whether it's a garage, basement, extra bedroom or bath, a large kitchen, fireplace or open floor plan, choosing the style of home that you want is an important first step in finding the perfect place to hang your hat. You may also want to consider whether you prefer a single-level or two-story home. Many home buyers also factor in floor plans when searching for a house, including those that offer an open and flowing design.

Get Pre-Qualified

Now that you know what you want and where you want it, it's important to find out how much of a home you can afford. Pre-qualification is not the same as pre-approval. With pre-qualification, your lender will request specific information relating to your income and expenditures and will offer a possible price range for you to keep in mind while shopping. Pre-qualification does not guarantee that you will receive an approval, but it does give you a good indication of how much you can afford based on your current situation.

Talk To A Magalia and Paradise REALTOR®

Nobody knows the real estate business like a REALTOR®, so let them help you in your search for the perfect home. They can answer questions relating to the neighborhood, recent inspections on a particular home and any needed repairs. Because a REALTOR® has access to a number of area homes, they have the ability to show you various choices within your preferred area and price range.

Ask About Amenities

One of the most significant concerns of any home buyer is what a home has to offer. Utilities, such as water, sewer, cable, phone and electricity are just a few of the things to consider. If the home is in a subdivision that requires the payment of association dues, how will these funds be used? What amenities does the home owner's association offer? These are all questions to ask your REALTOR® when shopping for the perfect home.

In conclusion, you should know that the search for your perfect home is a journey. It may be either long or short and with or without some bumps along the way, but the greatest satisfaction will be at the journey's end and your future's beginning.

Technorati Tags: Find your home Home Buyers

Property Investments in Paradise CA

2010-03-26T11:10:00.001-07:00

Real Estate for Today’s Paradise California Investment Sellers and Investment Buyers

For more information, you can visit my Web site or feel free to give me a call.

Sincerely,

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct

www.TammyVertrees.com

Technorati Tags: Real Estate Investor Real Estate Investment Home Investment Real Estate Flipper

Tips for selling your Paradise home in spring

2010-03-22T08:49:00.001-07:00

Selling your Paradise, CA Home in the Spring Time

Hot Paradise Home Decorating Tips

Let's face it. There are two kinds of people in the world-those who have a knack for being creative and those who are seriously lacking in decorating skills. The good news is that it doesn't matter which category you are in because there's always something new to be learned. If you want to know how to add some new life to your home without spending a fortune, here is how to get started.

Spruce Up Your Walls

If you need a quick and affordable way to decorate your otherwise bare walls, consider adding a square of your favorite gift wrap to a standard photo frame and hanging it on the wall. Not only will this look great, but it will also save you a bundle of money when compared to the cost of traditional artwork.

Lighten Up

If you are tired of looking at a plain lampshade, consider adding some pizzazz by purchasing tassel fabric at your local craft store and affixing it to the trim. This will create a designer look and, best of all, won't cost you a fortune.

A Little Paint Can Go Along Way

If you have an old drawer set that's simply gone out of style, add a fresh coat of paint and some new hardware. This will work brilliantly whether you are changing the decor or just need a more updated look.

Have A Seat

If the cushions on your chairs are looking worn or simply need some new life, you can make a big difference with some new fabric. You can change the look of any chair by purchasing fabric and attaching it to the underside of the cushion. This is an easy and affordable way to get the look of a brand new chair at a bargain.

Wow Your Walls

If you're looking for a conversation starter, consider purchasing plain white quilt squares and sending them to your favorite celebrities for an autograph. Be sure to send a SASE (self-addressed stamped envelope) with your request so that they can return the item to you. With each autographed quilt square that you receive, sew it next to a patterned square. Over time, you will have a wall hanging that's sure to be a colorful treat for both you and your guests. Having a quilt signed by dozens of your favorite celebrities is one way to wow your walls in a big way.

Create The Illusion Of A Larger Space

Did you know that mirrors can actually give the illusion of a larger room? Even if your house is small, you can open it up with a few strategically placed mirrors. Horizontal designs are some of the best and they can offer a look that turns a small room into an open and airy spot.

Now that you know what's hot in decorating, it's time to get busy and start sprucing up your space. After all, it's often those finishing touches that make a house into a home.

Technorati Tags: Home Decorating

Relay For Life in Paradise California

2010-03-17T11:00:00.001-07:00

Technorati Tags: Relay for life,Fight Cancer

	Relay For Life of Paradise Sat 10am - Sun 10am, June 5-6, 2010 at Paradise High School

Click to view the latest information for this event

See you all there!

Before the Paradise CA Short Sale Contract

2010-03-12T11:43:00.001-08:00

What To Do Before The Short Sale Contract

Great list for Paradise CA short sales

I have written out some items that will make the Paradise CA short sale process a much easier transaction to get to the closing table, and in a timely manner if you have what the bank is looking for.

Having these updated items is important for the transaction to close and the bank having the necessary information to approve the short sale.

Keep these items updated every month - banks will ask for updated information so it imperative that the seller keep the records up to date.

Important Items you may need to submit with your request for a Short Sale:

Hardship Letter

Provide a letter detailing the events which have made it difficult for you to make your payments. MUST BE Signed AND Dated.

The letter must include the following:

The reason for the Short Sale request.

New addresses and phone numbers for all parties to the Note and Deed of Trust, if applicable.

Employment / Income Verification

Provide a copy of the last 2 paycheck stubs for each party that signed the Note.

If self employed, provide an income statement showing the past 2 months of income.

Financial Affidavit

Financial Evaluation Form (detailing expected monthly expenses vs. Income). Complete and include with your submission.

Must be signed and dated.

Bank Statements

Provide a copy of the last 2 months of Bank Statements.

IRS Tax Returns

Provide a copy of the last 2 years of IRS Tax Returns.

Mortgage Statements( all loans/1^ST & 2^ndloans / HELOCS )

Provide a copy of the last monthly mortgage statement(s) regarding the property.

Copy of the Listing Agreement

Provide a copy of the Listing Agreement, MUST BE SIGNED BY THE BROKER AND OWNER OF THE PROPERTY.

Copy of the Sales Contract

You need to Provide a copy of the Sales Contract. The Contract must be legible and MUST be signed by all parties.

Please be advised that no consideration will be given without an executed sales contract. As per the negotiators of the banks.

Paradise CA Real Estate Talking Points

2010-03-11T20:25:00.001-08:00

Real Estate for Today’s Paradise California Home Sellers and Buyers

Talking Points:

Homeowners wanting to pay off their mortgage earlier than planned can do so by making extra principal payments. One extra full principal and interest payment a year will reduce a 30-year loan to about 17 years, and adding the following month’s principal payment to the current one will cut the loan almost in half. It is important that borrowers tell their lender the extra money is to be credited to principal. Homeowners should keep records of their payments and review it once a year to be certain the lender has followed directions.

Private mortgage insurance (PMI) generally is required for home buyers whose down payment is less than 20 percent. PMI may be added to the mortgage payment each month to protect the lender should the borrower default. By law, PMI generally must be canceled automatically when the loan balance reaches 78 percent of the home’s original value. However, lenders also may agree to cancel this coverage upon a borrower’s request when the balance declines to 80 percent of the current value, if certain conditions are met. Borrowers who have made their payments on time each month for five years should contact their lender or loan servicer to obtain all the details on cancelling the coverage.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct

530-872-5428 Office

www.TammyVertrees.com

Time to Spring Forward ~

2010-03-11T14:13:00.001-08:00

Just a Reminder to Spring Forward this weekend

On Sunday, March 14, 2010 at 2 a.m., Daylight Saving Time begins in the United States.

Every Spring we move our clocks one hour ahead and "lose" an hour during the night and each Fall we move our clocks back one hour and "gain" an extra hour. But Daylight Saving Time (and not Daylight Savings Time with an "s") wasn't just created to confuse our schedules.

The phrase "Spring forward, Fall back" helps people remember how Daylight Saving Time affects their clocks. At 2 a.m. on the second Sunday in March, we set our clocks forward one hour ahead of Standard Time ("Spring forward"). We "Fall back" at 2 a.m. on the first Sunday in November by setting our clock back one hour and thus returning to Standard Time.

Have a great day!

Tammy Vertrees

Paradise CA Short Sales Aren’t Difficult

2010-03-11T11:15:00.001-08:00

Paradise CA Short Sales Aren’t Difficult - 5 Ways To Make Sure You Get Your Short Sale Approved

It seems that everyone knows someone who is facing losing their home to foreclosure. It can also be said that if you know somebody in foreclosure, the chances are someone has told them that a short sale is the strategy to unlock the foreclosure prison.

While short sales can save many homes from a foreclosure auction, it is a very complicated process and one that should not be taken lightly by the person who is not educated about short sales.

If you are a homeowner who is facing foreclosure, a short sale might be for you. However you will need to be open, honest, diligent, cooperative and understand that the 5 tips listed below are crucial to your short sale being successful:

1. While you may be able in some occasions to convince a bank to work with you, the prudent homeowner knows that they are not an expert and should let the expert in the market handle the short sale. Whether an experienced real estate agent, title processor or attorney, make sure the person facilitating your short sale really is knowledgeable in regards to the short sale process.

2. Make sure you stay actively involved and you cooperate fully with the timely submission of forms and other paperwork as may be required by the lender. This includes that you, not your agent or advisor, but YOU write a concise and informative Hardship Letter. Having someone else write your hardship letter may be the reason that your short sale package will be turned down.

3. Make sure you know what is expected of you. The bank is going to want a comprehensive short sale package and that more than likely includes a full financial forensic picture complete with bank accounts, tax returns and more. Your omission to give the bank this information may get your short sale request rejected.

4. The bank made a loan to you and they have the right to collect. You have the responsibility to disclose your assets and to liquidate them to reduce what you owe them. You can’t expect to take less while you are cruising around town in your new BMW. That’s just not right. You must be ready to demonstrate a reason you are unable to pay them back.

5. Make sure you don’t procrastinate until it’s too late before you request a short sale. Most homeowners don’t do anything or simply wait too long to act. No real estate agent or attorney is a magician. They need time to make the short sale work. If you want to save yourself from enduring a foreclosure on your home then you must act in a timely fashion.

Short sales can take as long as 6 months to get accepted. These are just 5 simple strategies you can implement to give your short sale request the best chance for approval. This is not an easy process for lender or homeowner and your ongoing cooperation can mean the difference between a successful short sale or your home being sold at the Courthouse steps.

I can help you short sale your home. Let’s talk 530-413-8383

How to Stop Your Paradise CA Foreclosure

2010-03-09T11:26:00.001-08:00

How to Avoid a Paradise CA Foreclosure

Contact the Lender

Absolutely the first step to avoid a Paradise CA foreclosure is to contact the lender and let them know your situation. In many cases, they can work with you to temporarily modify payment terms until your situation is resolved.

Never, ever ignore late notices, letters or calls from your lender. They would much prefer to work together with you to resolve the situation, but will not hesitate to begin foreclosure proceedings if it appears that you are unwilling to work with them to avoid your Paradise foreclosure.

Redo Your Mortgage

If you're still current on your payments, or not too far behind, refinancing may be a viable

option for you. Refinancing your Paradise home will pay off your current mortgage and in many cases lower your monthly payment at the same time. It can be the most straightforward method to avoid foreclosure.

Sell Your House

This may be the toughest route to stopping foreclosure, particularly if you still need somewhere to live, but it may be the only way to stay out of trouble and prevent a black mark from appearing on your credit record. If you need to sell fast, there are home buyers in our area who will allow you to do that. They can close escrow quickly, or on whatever timetable fits your schedule, and possibly allow you to walk away with cash at closing.

Protecting Your Credit

Ultimately, protecting your credit must be your number one goal. Your credit report will be with you for the rest of your life, and having a foreclosure noted on it will cause problems for many, many years down the road — problems that only time will erase. Take steps now to keep that from happening. It may be difficult in the short-term, but the long-term results far outweigh the alternative.

ABOUT THE TOWN OF PARADISE

2010-03-08T16:07:00.001-08:00

The Town of Paradise, incorporated in 1979, is a beautiful community with a population of nearly 27,000 and another 20,000 people living in the adjacent unincorporated area of Magalia. It is located 97 miles North of Sacramento and 12 miles Northeast of Chico and situated in the Western foothills of the Sierra Nevada Mountains. The community forms a sanctuary for wild game since there is no hunting allowed within the perimeter.

Paradise offers its residents a rare combination of advantages. With its great natural beauty and charm, it offers excellent home sites, a wide choice of recreational pursuits, cultural activities and facilities for shopping and personal services.

Recreational pursuits are plentiful as this beautiful countryside offers activities for the hiker, fisherman, hunter, horseman and golfer. Lake Oroville is within ten minutes of Paradise for water sports, house boating and fishing.

Paradise offers a delightful climate which is superior to that of much of the rest of Northern California. We boast four distinct seasons. Our foothill location and prevailing wind direction eliminate smog conditions completely. Its 18 square miles and has an altitude of 1200 to 2400 feet. This altitude keeps it cooler in the Summer and with less Winter fog than is found on the valley floor below. Our Winters offer an occasional light and beautiful snowfall which enhances Paradise's natural beauty.

Paradise has a progressive and excellent school system. We are in close proximity to California State University Chico and Butte Community College.

Stop by and say "hi" on your next visit!

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