http://www.mikesrealestateshow.com Mike Kelly has been a Realtor in Sonoma County, California for 28 years. He is a Certified Residential Specialist and has his own real estate related radio show on 1350AM, KSRO Newstalk. This podcast is the audio from the show Sat, 17 May 2008 04:38:23 +0000 http://backend.userland.com/rss092 en   The other day I had a savvy Realtor bring up a valid and timely point about a septic system being a "greener" alternative to hooking up to sewer. However, a non-functioning system will also be "green" especially in the heat of summer! If you see a green streak running ... http://www.mikesrealestateshow.com/2008/05/16/our-septic-systems-the-greener-alternative-to-hooking-up-to-city-sewer/ Take my offer—please! Offers at 10% below the asking price in this market is the NORM (unless it's a hyped REO listing--see other posts for this)if not much more! If you’re in a declining market area (like California!) you're going to get the appraisal price reduced by 5-10% at least! ... http://www.mikesrealestateshow.com/2008/05/16/558/ A listener asked me if the rumors of “Multiple Offers” was nothing but Realtor Hype? If Realtors could "hype" up business through manipulation of our MLS pricing structure, you’d think we'd all done this before  the 30-50% pay-cut we've all taken over the past 3-4 years plus the lost equity of ... http://www.mikesrealestateshow.com/2008/05/16/sellers-market-in-the-real-estate-owned-market-reos-bank-owned-post-foreclosure/ 30yr fixed to $662,250 . . . .  5.75% at 1 pt    30 yr fixed to $2,000,000 . . . . . 7.0% at 1 pt   7/1 , fixed rate for 7 years  5.375% at  1 pt to $662,250     FHA loans  6.0% at 1 pt  . . . .  up ... http://www.mikesrealestateshow.com/2008/05/16/tremendous-news-662500-jumbo-loans-5875-at-1-point-big-news-just-in-time-for-this-buyers-market/ News Release    May 16, 2008      Fannie Mae Announces Single National Down Payment Policy; Eliminates for 5% off the top rule for appraisers!! Replaces Policy Regarding Markets Where Home Prices are Declining WASHINGTON, DC -- Fannie Mae (FNM/NYSE) today announced a new, national policy on down payment requirements for conventional, conforming mortgages the company ... http://www.mikesrealestateshow.com/2008/05/16/556/   Currently, seniors age 65 and above own more than $2 trillion in home equity. Yet less than 1% of this total has been engaged by a reverse mortgage. That’s untapped money that seniors on limited budgets could use to meet daily expenses, pay off bills, travel, remodel, fund a ... http://www.mikesrealestateshow.com/2008/05/14/reverse-mortgages-grow-in-popularity-call-pete-to-find-out-why/ Press Release For Immediate Release: May 8, 2008 House Passes American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) Washington, DC - The U.S. House of Representatives today passed the most comprehensive response yet to the American mortgage crisis. The American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) responds ... http://www.mikesrealestateshow.com/2008/05/10/press-release-house-passes-american-housing-rescue-and-foreclosure-prevention-act-read-synopsis-here/ Up to $417,000  30 yr fixed  5.75% At 1 pt cost    7/1 program  5.5% at1 pt              FHA up to $362,790    6% at 1 pt    $417,000 to $662,500  30 yr fixed  6.25% at 1 pt $662,500 to $1,000,000   30 yr fixed 6.875 % at 1 pt Pete Phillippe your lending advisor, at 707-535-1263 and ... http://www.mikesrealestateshow.com/2008/05/05/petes-monday-interest-rate-update-courtesy-of-the-nice-folks-at-indy-mac-bank/ The Commerce Department got the month off to a good start when it reported on May 1 that consumer spending in March was up 0.4%, double the increase that economists had predicted. Consumer spending, which accounts for 70% of U.S. economic activity, is vital to the nation’s long-term economic health. Further ... http://www.mikesrealestateshow.com/2008/05/05/petes-consumer-information-courtesy-of-the-nice-folks-at-indy-mac-bank/ I would call Andy Sirkin's office in San Francisco and schedule an immedate appointment. He's an expert in Tenants in Common (TIC's) and you need help as all of this should have been addressed in the formation stages of the TIC. Here is his information off of his web site. •   ... http://www.mikesrealestateshow.com/2008/04/30/questions-regarding-tics-or-tenants-in-commonheres-the-guy-to-call/