Mike’s Real Estate Show

We stay at Bonanza King Resort up on Coffee Creek in Trinity Count every year. They have these great cabins along Coffee Creek. We stay in the cabin named “Fawn” which has this screened in “Sleeping porch” and these itty-bitty, metal cots meant for kids but my wife and I sleep out side as the creek is nearby. If you have not been serenaded to sleep by a free flowing creek you ain’t been sleeping right! Check out their website and tell them I sent you!! www.bonanzakingresort.com/

I’ve attached a “Seller’s Equity Net Sheet” for your use. It’s pretty self-explanatory. If you need to know what your home is worth you can email me for a quick “over the net” home evaluation. You also may wish to use Zillow.com and get a ballpark “zestimate”. All real estate is local and your local issues, market conditions are something to also consider. Once you’ve got a number then start subtracting your loans, fees, etc on the “net sheet” if you’re confused give me an email or call at: 800-959-7244. No obligation. I’m a resource–NOT–a foreclosure work out artist!

If you are considering a “Short-Sale” or asking the lender to take far less than the properties value and/or the loan amount, you’ll need to demonstrate to them your financial plight. Read the rest of this entry »

Below find a link to the “Online Monitory” for a typical home at this new Solar Home community in NW Santa Rosa. It demonstrates the power out put of the solar electrical panels mounted on the roofs of this unique home community. Very Interestings!!

http://www.thenorthvillage.com/solar.php

Rates as of 7/27/07       

 The market has been quite volatile this last week, and really even before.  We’ve see the bond market responding to what is happening in the stock market (when stocks go up, the bond market suffers, causing rates to increase; when the stock market suffers, the bond market usually reaps from the stock markets loss, which is good for rates).  The last few days have seen a bit of improvement in the bond market, though I am very cautious as the stock market could rebound… I will be watching to see what continues to happen in the next few days.

Just a reminder… I can provide financing options beyond what is quoted on this rate update!  This is just a taste, a sampling, a bite or nibble of the smorgasbord of loan options I can provide you and your clients including:

~  Lot Loans                           ~  Construction loans

~  Stated Income                    ~  No Doc ~ No Ratio

~ Option ARMS                     ~ Flexible Hybrid ARMS

Give me a call for more information about different loan products and requirements!        

Conforming                 fully amortized                        interest only

30 year fixed               6.50%                                    6.75%

3/1 ARM                     6.25%                                    6.375%

5/1 ARM                     6.375%                                   6.50%

7/1 ARM                     6.50%                                    6.625%

10/1 ARM                    6.625%                                   6.75%

                                    fully amortized                        interest only

JUMBO – up to $1million

30 year fixed               6.875%                                    7.00%

3/1 ARM                     7.00%                                     7.00% 
5/1 ARM                     7.00%                                     7.00% 

7/1 ARM                     7.125%                                    7.125%

10/1 ARM                    7. 25%                                    7.25%

100% financing:          Mortgage Insurance may also be an option – here are some possibilities without MI.

30 year fixed – 80/20  - Conforming loan amount on the first           6.875% 1st / 10.375% 2nd – assumes 680 credit score and full document loan for 2nd pricing – better score, better pricing on the 2nd

30 year fixed – 75/25 – Conforming loan amount on the first           6.625% 1st / 10.375% 2nd – assumes 680 credit score and full document loan for 2nd pricing – better score, better pricing on the 2nd

Call for information on Blended rate 100% options with No MI.  I will evaluate and consult with client whether mortgage insurance is a better option.

Other loan options… I can provide additional loan options, including Alt-A loan products, Option ARMS, the Flexible Hybrid ARMS, Commercial loans, Home Ownership Accelerator Program, Construction Loans, Loans for Investment Property, Community Lending Program for those who might not qualify for traditional loans and much, much more!

Here’s the fine print:

Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rates quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Rates quoted for fully documented loans.  Rates are as of 7/27/07 and are subject to change.  Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers the may offer better rates/terms as well as options for non-qualifying borrowers. 

Alicia Hodenfield

Investors Trust Mortgage

(707) 284-2718 direct line

alicia@investorstrust.com

www.aliciahodenfield.com

 Listeners,

  On the show we have real estate and loan professionals present their products and the benefits THEY percieve for the consumer. For those seeking more “nuetral” resources I’ve included the information below for your decision making. The first is the tried and true AARP and a specific link to their “Reverse Mortgage” information. Also, I’ve included information taken directly from the San Francisco based Consumer Credit Counseling Services. You can call them at the ”800″ number below.  

  This is the AARP web page for Reverse Mortages:  www.aarp.org/revmort

 Here’s more information on the CCCS of San Francisco

“Today, with more financial obligations and many financial options, money management may seem difficult and confusing at times. We, at Consumer Credit Counseling Service, can help you balance life’s financial demands. We’ve been providing money management information and assistance since 1969.

If you are experiencing money troubles, call us at 800.777.7526 or email us. Whatever your circumstances, we’ll provide you with the objective advice you need to take control of your finances and relieve the stress caused by bill problems.
Whether you need immediate help to pay off debt and avoid bankruptcy or guidance in designing a spending & savings plan or buying a first home, we offer a variety of programs and services that put you in control of your financial future.
Although we are based in San Francisco, we serve consumers nationwide by phone or internet. To meet the growing need for our services, our organization is expanding rapidly.

Consumer Credit Counseling Service of San Francisco (CCCS) is a non-profit service and a member of the National Foundation for Credit Counseling (NFCC). We are accredited by the Council on Accreditation of Services for Families and Children, Inc. and are certified by HUD to provide comprehensive housing counseling services.
With over 125 employees, our staff includes BAs, MAs, JDs, MSWs, certified financial planners and certified credit report reviewers.”

Here is their contact information and local address here in Santa Rosa.

P: 800-777-7526 T: 800-777-7526 F: 415-788-0739

85 Brookwood Ave., Ste. 14 Santa Rosa, California 95404-

Strong-arm Your ARM:
How to Prepare for Rising Interest Rates

If you are a homeowner with an adjustable-rate mortgage, you may be worried about your finances every time interest rates rise. To prepare for the hike, know how ARMs work (many people aren’t completely aware of the details) and what you can do to plan for future payment increases.

ARM Basics
The most common reason homebuyers choose adjustable-rate mortgages (ARMs) over fixed-rate mortgages is because of the comparatively low initial interest rate and the affordable monthly payment. However, the name says it all – the interest rate is adjustable – and when the period of fixed interest ends, your payment will change with whatever index the loan is based on. Read the rest of this entry »

Events (Free, unless cost noted)

Through July 30 — Sonoma County Fair “Bee Cool” Celebrate the bounty of Sonoma County. In 2007, we pay tribute to hometown hero Snoopy! Headliner entertainment, flower shows, carnival rides, rodeo, exhibits, food, contests for kids. It is a celebration of everything Sonoma. Sonoma County Fairgrounds, Santa Rosa $7 adults. Kids 12 and under are free every day Time: 10 a.m. - 10 p.m. Read the rest of this entry »

      
 Tip of the Week:   7 tips for avoiding home-improvement related injuries!

1. Wear protective eye gear

2. Keep the work site organized to prevent tripping and falls

3. Ask for training on tools when you rent or buy them

4. Make sure ladders are anchored securely and replace any that appear damaged

5. Equip nail guns with sequential-trip triggers

6. Keep combustible, solvent-soaked rags away from heat sources

7. Quit before you’re exhausted

These all seem like pretty reasonable ideas.  But how many of us have started a project with out making sure we have what we need, where we need it and with the proper safety gear in place?  I know I am guilty.  In my previous profession, I was an estimator for heating and air conditioning equipment and I will attest, not only do you want to be sure your ladder is secured properly, you want to be sure it is the right height!  Don’t over climb your ladder!  When it says, do not go beyond this step, heed the warning!  You run the risk of tipping it over and serious injury – especially if you are holding a power tool of any sort!