January 17th, 2008 . by Mike Kelly
It is a ridiculous question. Why don’t you just say, “America does not work!” The American Dream is a belief system, encompassing all that is great about our Country. Don’t make it a commodity to be traded on wall-street or discounted as a “short-sale”. This market will be a crucible for many. But let’s keep in mind the words of Papa Hemingway “The world breaks everyone and afterward many are strong at the broken places.” –‘A Farewell to Arms’
Posted in Wisdom Shared | Please post a response »
January 14th, 2008 . by Mike Kelly
Some facts on the Fed, Fed Funds Rate and Mortgage Rates
-The Federal Reserve was established in 1913. The Fed controls monetary policy for the U.S. The Federal Open Market Committee (FOMC) consists of twelve members.
-The FOMC holds eight regularly scheduled meetings per year. At these
meetings, the Committee reviews economic and financial conditions,
determines the appropriate stance of monetary policy, and assesses the
risks to its long-run goals of price stability and sustainable economic
growth.
-The Federal Reserve doesn’t control mortgage rates. Read the rest of this entry »
Posted in Sonoma County Real Estate Interest Rates, Wisdom Shared | 1 Comment »
January 13th, 2008 . by Mike Kelly
Our listeners who find themselves “upside-down”, “sideways” and just plain “Up-against-it”! Now have a web site to explore what might be the only financial move left: A “Short–Sale” through their lender. Please go to the website below and you’ll be able to gain valueable information as to what a “Short-Sale” actually is and if it is for you. But before you go there we want you to exhaust all possible avenues with your lender. Here are Mike’s Tips for this:
1. Call YOUR LENDER!! 80% of those now in default and loosing their homes DID NOT call their lender! Many feel their position is hopeless. Don’t despair! Try a call. Call your loan originator or Mortgage Broker who got you the loan. Call your Realtor also. See what they reccomend. You might get a local manager to give you someone at the “Top” or near the Top to help you with your loan issues. Read the rest of this entry »
Posted in Short Sales | Please post a response »
January 13th, 2008 . by Mike Kelly
Rates as of 1/11/08 Today’s rates quoted are a small sample of current rates – all quoted without points- call me about rates with point(s), different loan products and requirements! (707) 284-2718
Conforming fully amortized interest only
30 year fixed 5.875% 6.125% Read the rest of this entry »
Posted in Interest Rate Update | Please post a response »
January 11th, 2008 . by JoetheSportsGuy
Now is the big boys turn. The teams that are at home after a bye. And looking at the lines for the games…the bettors don’t expect much. Read the rest of this entry »
Posted in Miscellaneous, Football!!, Pro-FootBall | Please post a response »
January 7th, 2008 . by Mike Kelly
Here’s a question from a Seller of a home who wants to buy another Home but thinks he can’t sell is current home? I asked the following questions and gave my commentary to his situation. Blunt as it might be!
Are the loans you have in place “refinances” or the loans you put on the property when you bought it? California is a “Trust Deed” state so the home is the final recourse IF you have the purchase money loans in place. If you have refinanced then you have what is known as a “recourse” loan which means the bank COULD come after other assets. Read the rest of this entry »
Posted in Miscellaneous, Short Sales | Please post a response »
January 7th, 2008 . by Mike Kelly
We had a listener who had purchased a retirement home in Ashland, Oregon but has second thoughts and has decided to stay here in Sonoma County. Unfortuneatly she refinanced her home down here and does not like having a rental in Ashland and her home with a big mortgage on it down here. She thought she could sell and pay off her loan with no tax consequences–NOPE! Ain’t gonna happen. I referred he to frequent show guest Christine Cromwell of Cromwell Bookkeeping. Christine is an “Enrolled Agent” and knows her stuff. Christine’s number is: 707-544-0606 and she is located at 1516 4th Street right here in Santa Rosa. Read the rest of this entry »
Posted in Tax Issues | Please post a response »
January 7th, 2008 . by Mike Kelly
I had a listener to the show email me asking about the following:
“How / where can I find HGTV type services in Sonoma County? This would be a good topic for one of your KSRO Radio Shows.”
* Designed to Sell—I use Sue Sarmir of Creative Visuals 707-544-4211
* Sell this house-That would be ME!! 707-322-8503
* Curb Appeal—Stager? Amazing Staging, Mona Reader http://www.amazingstaging.com/ (70(707) 829-80377) 829-8037
* Desperate Landscapes—Geared For Growing Landscaping; 707-473-4333
* Bathroom remodels (affordable) Affordable?? Monty Honig—707-579-5166
* Rock Solid (hardscape) Geared for Growing plus Alex Reaney who does this plus electrical work and general contracting 707-578-8966
* Garage remodel - epoxy floor, finish walls, storage cabinets—St. Francis Flooring Dermot Gilmartin –707-539-4790
All of the above referenced companies can be found at the Sonoma County Executive Association. I’ve been a member for years and we are the oldest (1974) organization of its kind in Sonoma County. If you want to see all of the membership click here: Executive Assoc. Mini roster
Posted in Miscellaneous, Wisdom Shared, Tales from the Trenches | Please post a response »
January 5th, 2008 . by Mike Kelly
In the greatest state of California the Seller of a property is not required to complete a Transfer Disclosure Statement on a probate/trust, REO(bank owned property)/Foreclosure, 5+units, Commercial and Land sale. Read the rest of this entry »
Posted in Miscellaneous, Wisdom Shared | Please post a response »
January 4th, 2008 . by Mike Kelly
Posted in Homes For Sale | 1 Comment »
Yes, this stunning Custom Home of 2300sqft+, 4 bedrooms and 3 FULL baths with lovely tile floors, counters is STILL available!! Located on a quiet cul-de-sac with unique custom features: hardwood flooring with inlays, intriguing geometric designs, ceilings with recessed accents, fireplace in master bedroom, Jetted-Tub, Laundry Chute with inside laundry room, “Courtyard” Look yard with privacy and covered decking. Check out this virtual tour and marvel at the homes character and traditional look: 
