Your home is a place or safety and security, a refuge from the storms of life.  However when and if disaster does strike, you may need a little know-how to get through the process of filing an insurance claim and you will likely be surprised at the amount of time consumed with such a process.  Obviously, you will have as one of your key concerns the costs involved with the restoration of your home in regards to what your homeowner’s insurance may cover.

While this process is one you can research on your own or with the help of an adjuster from your insurance company, you may find that turning to an additional public adjuster for aid in documenting your insurance claim to be very helpful. A public adjuster works independently from your insurance company and can evaluate your home and damage and coverage to determine the best means of reporting your loss.

Here are some steps to follow when hiring a public adjuster:

1. Only interview and hire an adjuster who is licensed and ask about their level of experience.
2. Make sure you speak directly to the adjuster who will be evaluating your loss each time you call regarding your property, to lessen the risks of misunderstandings.
3. Question the adjuster’s experience and credentials and call past client referrals and ask for details. Your adjuster should be willing and able to supply you with this information easily.
4. Double check that the adjuster you are working with is local and will work with any contractors you want to hire, if necessary.  Ask if they will help you in calculating living expenses, if applicable, or just with damage estimation.
5. Educate yourself.  Since public adjusters work on contingency fees ranging from 5% to 15% of the insurance proceeds, it is wise to negotiate these fees and have them defined in a signed contract.

If you want to learn more, click here.

 It’s important to get a good value when you are purchasing a home.  Value is different from a deal.

A DEAL is a really good price for a property, even if it’s located on a major street and has other issue. We could really generalize and say that a DEAL is about getting something for less than it’s market value and can be applied to almost any tangible purchase. There is a DEAL on Turkeys at Thanksgiving, there is a DEAL on the loss leader car that you purchase from the Thousand Oaks Auto Center, there might be a DEAL on an REO or a short sale, and there might not but that is good for another blog topic.

 In my opinion a VALUE in real estate is something that looks at all the components of VALUE for you, like location that suits you. You will probably get more for your money in Simi Valley vs. Thousand Oaks but is that savings the right VALUE for you. Does the condition of the home suits you? Is it a good VALUE to you to have a home that has granite counter tops or one that needs a bit of work that you can personalize with your choices. Lifestyle is a very important consideration for homebuyers. Does the lifestyle of the home, the neighborhood, the access to shops or the rural setting speak to you and suit YOU.

A VALUE is a place to call home for you and yours all at a price that felt fair and equitable. For owner occupant homeowners, I think that finding a value, is the most important thing.

Recently a Simi Valley home buyer posted a questions on Trulia, he asked if a home was worth the asking price. Of course I think if you are asking a question about a homes worth to an open forum and sharing your concerns about the home, odds probably are, that you knew the answer before you asked the question. There is value in asking questions, so, I’m not faulting the idea of gathering a consensus opinion. In fact, I’m grateful because it reminded me to share the Value vs Deal consideration at Trulia and here. If you want to see the more than 200 questions that I have answered on Trulia, follow this link.
http://www.trulia.com/profile/bonniesterling/

While the decline in new home construction may have some feeling “blue,” those of you who embrace a “green” lifestyle will be excited to hear about the latest projections. “Green” remodeling is a growing trend in the real estate industry! In fact, McGraw-Hill Companies, revealed last week that 17% of residential home building in 2011 was due to eco-friendly homes and upgrades. Rates on the West Coast, North Midwest, and New England have experienced even stronger growth.

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

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

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

Spring is in the air and vacation plans may not be far behind!  Whether you are embarking on a weekend getaway or an extended trip, it’s critical that you make arrangements to ensure the safety of your new home.  Implement the following suggestions and enjoy increased peace of mind on your get-away!

• Befriend a  neighbor.  A formal Neighborhood Watch program may not be instituted on your block, but you are bound to have a neighbor willing to watch over your home while you are away.  Request that they notify you or the police if something alarming occurs.
• Do not tell the world about your vacation plans until after they are complete.  Your voice mail, Facebook, Twitter, & other social networking websites provide information to sources that may not be your “friend.”  Do not leave notes on your front door, trashcans or mailbox, either.
•  It’s always best when your home appears to be occupied while you are away. Timers and volunteer police patrols can be utilized, and newspapers and mail can be placed on hold, unless you have a large, locking mailbox. You could also ask a friend to visually check-in on your home.
•  Try using a deadbolt or locking mechanism on your garage door while you are away for long periods of time and secure any pet entrances.
• Remember that a well-maintained and well-lit home with timed lights and motion detectors can be a deterrent, as can loud dogs.  Please take note that if you have a pet, you will also need to  plan for its care while vacationing.

When you return, be sure to begin all suspended services again. You will also want to  thank those who watched over your new home so they will feel so inclined when your next vacation comes up.

A combination of historically low mortgage rates and declines in home pricing are resulting in the most affordable home market in two decades. This is great news for home buyers, provided they are able to qualify for a loan. Stricter guidelines and qualifications may make getting a home loan more challenging, so potential home buyers should work with a mortgage specialist to determine their ability to buy a home.

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

Interest rates have been at record lows and change weekly on 30-year loans with Freddie Mac reporting an average of 3.87% on February 16th. 15-year loans were averaging 3.16%.  Many housing markets were considered affordable in the recent index, however, if you are in market to purchase a home, the following areas represent the best choice in order of affordability according to the NAHB/HOI:

• Youngstown, Ohio
• Boardman, Ohio
• Warren, Ohio
• Lakeland, Florida
• Winter Haven, Florida
• Modesto, California
• Harrisburg, Pennsylvania
• Carlisle, Pennsylvania
• Toledo, Ohio
• Kokomo, Indiana
• Fairbanks, Alaska
• Cumberland, Maryland
• Lima, Ohio
• Rockford, Illinois

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

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

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

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

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

When you meet someone for the first time – what do you notice?   If you’re like many of us, that initial impression is largely determined by outside appearance. Believe it or not, that concept rings true with your home, too! That’s right, your home can foreshadow clues regarding your personality and sense of style, and its landscaping tells a story as well. Is your landscape sending the message you WANT to convey? If your home is for sale, the following tips can help to make sure you are not missing the mark!

Is your home sending the correct messaage?

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

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

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

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

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

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

Just when you think you’ve heard enough about corruption in the banking, mortgage and real estate fields, along comes this article to make you even more mad. From my perspective, here is the latest in adding insult to injury. The bank will foreclose on many homes, put them into a group and sell them to an investor. The group of homes will contain property that would be desirable to an owner occupant.

Owner Occupants are not typically able to purchase homes at the foreclosure action, the Trustee Sale in our state,  because they must have all cash, in hand, to purchase the home, often times, offered at well below market value price. So, this leaves those purchases only available to investors at prices that allow those investors to handle the legal issues and repair issues, remarket the home in a condition that a typical owner occupant can procure financing, and the investor makes money too.

In this proposed bulk sale, there were be an even smaller pool of investors who can afford to purchase a bulk sale, a much smaller number of investors, given that the top selling homes at the aforementioned auctions are actually in the under 300,000 price range because small time investors can’t risk putting too much into one property. So the sale price of the bulk sale will be even lower in comparison to market value of the properties and since the article doesn’t say anything about being able to resale the property, the more restrictions there are, the more the pool of investors shrinks. However, I speculate that the bulk sales would not be planned if there wasn’t already an investment company who came to their top exec pals at Fannie and Freddie. This transaction of bulk selling homes cheaply to investors who are going to own and manage rentals is not some big win/win as it is being purported in the article.

Aside from the owner occupants who are losing these homes and would LOVE a loan modification, some deserving and some not, but that is a topic for another article, there are ready willing and able buyers who want to be owner occupants who will pay considerably more for these properties if sold individually, as we have been doing for many years now, and would likely make better neighbors than a landlord. Reselling these homes to new owner occupants was sometimes, occasionally, the silver lining to watching the prior homeowners loose the homes to foreclosures. It at least allows for the presumed shift of wealth from one household to another but this looks like another way for a corporation to get rich and increase the pool of renters, while diminishing the likelihood of homeownership for some.

Last month, I wrote an offer on a property with 5 offers. Last weekend, another with 3 offers. Last night one with 3 offers. All in the under 400,000 price range. There are buyers who want and can afford homeownership and it makes sense to purchase vs rent in this price segment in our area. We don’t need this prospective inventory converted into rentals. What do you think?

You Can read the original article here

 View Foreclosure Homes in Thousand Oaks, Moorpark and Simi Valley

Showing properties 1 - 3 of 3. See more Moorpark Bankowned.
(all data current as of 5/18/2013)

1. $210,000 : 15165 Marquette Street #B, Moorpark
   
   3 beds, 2 full, 1 part baths

   Home size: 1,353 sq ft

   Lot size: 1,742 sqft
2. $365,000 : 4877 Juarez Avenue, Moorpark
   
   3 beds, 2 full baths

   Home size: 1,116 sq ft

   Lot size: 3,572 sqft
3. $150,000 : 15242 Campus Park Drive #F, Moorpark
   
   2 beds, 1 full, 1 part baths

   Home size: 977 sq ft

   Lot size: 996 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

While the holidays are a favorite time of year for millions, it’s definitely not their favorite time to buy a home. The housing market plunges between the months of November and January as people put turkey dinners, tinsel and trees on the top of their lists and house hunting on the bottom. However, if you really need to sell during the holiday season, it does have a few advantages: shoppers are typically more serious and the competition is calmer. If you are committed to putting your house for sale at this most wonderful time of the year, consider these tips:

1. Decorate your home festively, but don’t go overboard and cover up important features. Also, put treats out for buyers and crank up the heat for a cozy winter escape.
2. Post top-quality photos and videos of your house on the web. Many buyers do their shopping from the warmth of their homes when the weather is bitter.
3. Make sure your curb appeal is striking! Keep fallen leaves raked and snow neatly groomed.
4. Get yourself a reliable real estate agent and seek out serious buyers such as work re-locators.
5. As always, price to sell!!