Open Houses May 16 & May 17, 2015

I’ll be hosting an Open House on Saturday, May 16 at 1613 Truckee Place in Woodland.  This is great three bedroom two bath home that is just blocks from Gibson Elementary, Douglas Jr High, Crawford Park and the old Gibson House.  It just doesn’t get much better than this.  The home features a very large living space.  I have a coy of the pest report in my file.  The home has been well cared for and just waiting for someone to come and update it and make it theirs.  Come on  by between 11-2 today.  It is listed at $299,900.  On Sunday, May 17, my daughter, Devon will be hosting an Open House at 1032 Adams Lane in Winters.  As Devon says, she is a second generation real estate broker.  That home is great investment property if you are looking to start or expand your real estate portfolio.  It also works well for a family, single person or retirees.   It is a 3/1 with laminate flooring throughout.  It also has a nice size back yard.  It is need of a little TLC but is great buy at $269,900.  Devon will be there from 11:30am to 2:30pm.  come on by and take a look.

OPEN HOUSE 119 Westwood Ct, Winters, CA

My daughter, Devon, who is a licensed real estate broker, will be holding an Open House today, Saturday Jan 17, 2015, at 119 Westwood Ct. from 12-2pm. This house is a great opportunity to live in a cul-de-sac close to downtown, the City Park and the elementary school. The Putah Creek walkway is just a short walk away and a very popular spot for the locals, especially dag walkers. The home has a see through fireplace located between the living room and the dining room. It has been a rental over the past few years and the cooktop, double ovens, dishwasher and the heater have all been replace recently. To get it ready for sale the owner had all of the interior painted and new carpeting installed. The kitchen and bathrooms are original but at the list price, investing in these upgrades would be well worth it. The lot is almost 8000 square feet, a size that is hard to find around. Make it a point to stop by today and take a look. If you can’t come between 12-2 today you can call Devon and make an appointment to see it over the long weekend at 530-304-2245. Hope to see you there.

Great Investment Opportunity in Winters, CA

It isn’t very often that you find one owner for both sides of the halfplexes located on E. Main Street. In Winters we have a fairly unique situation down on Caselli Court and Lauren Court and part of E. Main Street. The properties are built as a duplex with a common firewall in between them. Each half can be sold individually and many of them are. In this particular case I have owners who happen to own both halves and you can buy one side or both if you like. I have been the property manager for these two properties for many years and now the owners have decided to sell. Each side is currently rented. If you would like more information about this opportunity please give me call at 530-681-8939.

New Winters Listings

Several new listings and prices reductions have occurred in the past few days. There is a price reduction on 213 Creekside to $205,000 and Walnut Ln  has been reduced to $309,000. 304 E Baker St is a new listing as of last Friday s is listed at $231,900 and is eligible for Homepath financing. It is filthy dirt and smells of animal urine but will be a nice home with some new paint, a deep clean and new flooring throughout. It is my understanding that 803 Valley Oak has several offers on it but nothing has been accepted yet.  Hope this update is useful to you.

HARP Loan Modification Update

Back in July I wrote about my experience doing a HARP refi on one of my loans. The loan papers were ready for signing the beginning of September and we didn’t have to make a loan payment until the first of November!  I was thrilled as that saved us two months worth of payments.  On November 1 we made our first payment under the loan modification and it was $600. less than what we were previously paying.  I have had to start over on the second loan as it was discovered during the process the first time that the original loan that was paid off was never recorded.  Therefore it looked like I had two loans on the property.  So, it took me a month to get that straightened out.  But, as a result I had to start all over again with the process!  What a pain but hopefully I am almost there.

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Want to reduce your mortgage payment? Here’s how.

For some time now I have been totally frustrating paying 6.5% every month on my mortgage payments.  So I finally decided to do something about it this month.  After making my July payments I decided to call my mortgage holders to see if I could get some relief.  I first called Citi Mortgage.  They determined that I had a Freddie Mac loan and yes, they could help me.  They lowered the interest from 6.5 to 4.25% a month, a savings of around $300. a month.  I then called GMAC and found out the same things a Freddic Mac loan but they could lower the interest to 3.99%!  I was over joyed.  Another savings of almost $600. a month.  I then called Bank of America.  Sorry, not a Fannie Mae nor a Freddie Mac loan so they would do NOTHING at all.  I questioned several times, “there must some program they have for people like myself ” but that went nowhere fast.  So, while I am totally frustrated with BofA, and I let them know when they sent me a survey, I am happy two of these were thrilled to work with me.  The down side is they are so overwhelmed even with these streamlined loan modifications, they are taking 60-90 days.  Bummer but worth the wait.  There are websites you can go to to see what kind of loan you have but I found them unreliable.  My suggestion is to call your lender directly to see  if you have a Freddie or Fannie loan and if so, what they can do for you.  This could mean the difference between losing or saving your home.  You do have to be current with your loan and they do check your credit.  You can be upside down on the loan to value so I really encourage you to make the call and see if your lender can help reduce your mortgage payment.  The whole process takes about 30 minutes and you get the loan papers right away!  This is know as the H.A.R.P. Program, Home Affordable Refinance Rpogram.  Good luck, let mw know what your experiences are!

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What does it mean when you see a Trustee Sale in the Newspaper

When you see a Trustee Sale notice in the newspaper it means that the foreclosure process is almost to the end where the bank may take back the property. However, until that sale date happens, the owner of record is still the legal owner with all the rights of an owner. If you want to try and buy the property you need to contact the current owner and see if you can buy it from them through a short sale. However, the banks are not too keen on doing a short sale at this late date. It also gives you notice that you can show up at the Trustee Sale with cash and see if you can bid on the property. And, cash means, cash, not your check book. Often the bank wants much more than the published balance owing than what was published in the paper. You need to do your homework as there is often a second behind this first and that is information you want to know. Or it could be the second who is foreclosing and then they are liable for the first. Sound confusing? Well, that is why you need to know what you are doing to protect yourself. Hope this information is helpful.

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462 Edwards Street Update

Well after four months the bank has finally accepted the offer on this property!  It is truly amazing to me that it took so long.  We have been working on this for over a year.  In December we had an accepted offer with the bank and then the Buyer backed out.  Instead of just letting us slip in a new Buyer we had to start the process all over again.  Even so, I really don’t think it should have taken Chase over four months to approve this deal as it was basically very similar to the one they had already accepted.  What a waste of everyone’s time and money.  The poor seller is still having to pay all the utilities,  insurance and taxes and such while they have been waiting for this approval.  Well, hopefully this  will all be done by the end of June.  I will keep you posted.

Great New Listing on Orchard Lane, Winters, CA

A nice, new single family home came on the market last week in Winters, CA.  It is a good, old-fashioned, regular sale and vacant so easy to view.  It has four bedrooms and two full baths with a nice little sun porch on the west side of the house.  It is a custom built single story home in an area of mixed homes, some custom and some built but a developer or spec homes.  It is currently listed for $305,000.  Worth taking a look at.