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HOW A SHORT SALE REALLY WORKS

by Rob Zwemmer

 

 

After many request here’s how a short sale works in California:

First you find a ‘Short Sale’ property you like and submit a offer to the Seller. The Seller than signs the offer and submit this offer (together with a letter from the Seller explaining Seller’s hardship) to the Bank.  The Bank will take an average of about 4 – 6 weeks to approve the offer, and will then either accept the terms or counter your offer.

 

You don’t have an accepted offer until YOU (The Buyer) counter-sign the Bank’s acceptance or counter-offer. Remember, the validity of your offer expires by default 3 days after initial offer is made and the Bank doesn’t even respond until 4 – 6 weeks after that. So there’s absolutely no risk to you and it gives you additional time to consider whether or not you actually want to go through with the deal.

 

If you have any further questions on this, please call me or send me a note !

 

Rob Zwemmer

 

http://www.desertonline.com

Palm Springs Real Estate News

 

PLEASE RELEASE ME! INSPIRATION FOR TODAY:

by Rob Zwemmer

INSPIRATION FOR TODAY:

"Learn to let go. That is the key to happiness."
~ The Buddha

PLEASE RELEASE ME!

Remember the song "Please release me, let me go"? If you've ever felt that someone or something had a hold on you and wouldn't let go, perhaps you needed an "attitude adjustment."

Why? Unless you are literally chained to a wall, people and things don't have a "hold" on you. It is you who have taken hold of them, and refuse to let go. It's so easy to latch on to the situations, relationships, and baggage of others - believing it possible to have some control over their outcome.

The result is never-ending worry, sleeplessness, feelings of helplessness, and other symptoms of being "out-of-control." Anger is another matter - there seems to be so much of it today. TV shows are full of it. Anger is directed at family, the boss, the spouse, or anyone else in sight. Yet anger results from feeling that things or people are not doing what you think should be done. Anger is felt when you can't control the outcome.

The truth is we are only in control of our own lives and actions - nothing more. Buddha had it right when he said, "Learn to let go." Martin Luther said, "Let go and let God." Regardless of who said it, or how it was said, letting go will open many doors of happiness in your future.

 

More Coffee ?

Palm Springs home prices soften by 5-10 %

by Rob Zwemmer

 

Monday, May 25, 2009

 

 

By Rob Zwemmer

 

www.desertonline.com

 

 

Good Monday Morning and happy memorial day

98°F | 68°F

 

Memorial Day is a United States federal holiday observed on the last Monday of May Formerly known as Decoration Day, it commemorates U.S. men and women who died while in the military service.

 

 

Senate moves toward easing terms of loans

by Rob Zwemmer

Monday, May 04, 2009

 

 

By Rob Zwemmer

 

www.desertonline.com

 

 Good Monday Morning                                                                                        

98°F | 72°F

 

The Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government.  The bill, passed 91-5, also would give banks a break by encouraging reduced fees they must pay for the government to insure deposits. While both steps put taxpayer money on the line, lawmakers say the legislation is needed to prevent the economy from getting worse.

Also on Wednesday, the House agreed to a Senate-passed bill that would hire hundreds more FBI agents and prosecutors to investigate mortgage fraud. The legislation, expected to reach the president's desk soon, also would establish a $5 million, independent commission to investigate the cause of the financial crisis and chart a path forward.

The Senate housing bill would expand an existing $300 billion program called “Hope for Homeowners,” which encourages lenders to write down an individual's mortgage if the homeowner agrees to pay an insurance premium. The program, which is set to expire in 2011, is intended to swap out a homeowner's high-interest rate for a 30-year fixed loan backed by the Federal Housing Administration.

On a different note ; the Canadian dollar has gained strength in the last couple of weeks what will bring new Home buyer business to the valley.

 

Palm Springs Area Mortgage Market update! 1 Canadian dollar = 0.868659 U.S. dollars

Mortgage Rates Today +/- Last Week
30 yr fixed mtg Graph the three month trend 4.98% 4.94%
15 yr fixed mtg Graph the three month trend 4.80% 4.71%
30 yr fixed jumbo mtg Graph the three month trend 6.43% 6.41%
5/1 ARM

 

E-mail me with any questions you might have

 

Have An Awesome Week!

Rob Zwemmer

 


AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertonline.com/Morning-coffee

 

 



 

WHEN THE WIND BLOWS! INSPIRATION FOR TODAY:

by Rob Zwemmer

INSPIRATION FOR TODAY:

"Between stimulus and response, there is a space.
In that space lies our freedom and power to choose our
response. In our response lies our growth and our freedom."
~ Stephen Covey

WHEN THE WIND BLOWS!

From the book "Wellsprings of Wisdom" comes this story:

A sturdy but diffident young man asked a farmer for a job as a farm hand. "What can you do?" inquired the farmer. "I can do whatever needs to be done, and I can sleep when the wind blows," replied the applicant. Although mystified by the phrase "sleep when the wind blows," the farmer did not press the question but hired the young man.

Some nights later a violent storm awoke the farmer. He got up and tried unsuccessfully to arouse the farm hand, then with considerable annoyance went out himself to see if all was well. He found the barn locked, the chicken coop properly closed up, a wagonload of hay covered with a tarpaulin that was securely battened down, and all else in a condition of safety from the elements. Then the farmer realized what his new farm hand meant when he said, "I can sleep when the wind blows."

Think how often the storms of life give us a wakeup call. How many times have those storms caught us with our guard down and our barn unlocked? The hired hand knew that simple precautions practiced on a daily basis could render impotent the howling winds of uncertainty in life.

Stephen Covey, in his "Seven Habits," talks about being proactive - heading off problems before they arise. While the hired hand never read the book, he understood the practice of closing up the chicken coop every evening. So, how are YOU sleeping when the wind blows?

INSPIRATION FOR TODAY: SHARE AND SHARE ALIKE!

by Rob Zwemmer
"A candle loses none of its light by lighting another candle."

~ Unknown

Ever notice how those around you sometimes keep their best ideas to themselves? Perhaps it's you who calls for information from a supplier about a hot new prospecting idea . . . and asks that the information be mailed to your home so others in the office won't see it. Even if the shoe fits, you're not alone and won't be condemned for not sharing.

On the other hand, have you noticed how those who are most successful rarely mind sharing and teaching others their best moves? It's like lighting a candle. Those who are comfortable with their own success rarely feel threatened if they light someone else's candle. They know they will lose none of their own shining light by igniting the candle of opportunity for someone else.

How is candle-lighting best accomplished? First, it takes an understanding of your own strengths. Perhaps you're blessed with a beautiful smile and a never-ending supply of good attitude. If so, the candle you light for others may be words of hope and encouragement. Maybe time management and efficiency in your work ethic are your forte. If so, be a teacher and mentor to those who are not so focused.

The list of possibilities is long, but you probably get the point. Give your strength to others with no thought of reward. Do it every day. The simple candle you carry, when shared, may turn another's life into a multi-colored roman candle of health, happiness . . . and success.

 

 

Property tax appeal.

by Rob Zwemmer

 

 

 

Monday, May 04, 2009

 

 

By Rob Zwemmer

 

www.desertonline.com

 

 

Good Monday Morning                                                                                        

82°F | 58°F

 

Let's talk about this property tax scenario and how it affects the marketplace.

 

We’re seeing a lot more confidence in the marketplace right now as prices stabilize and buyers are taking advantage of some great incentives. However, the property tax issue does come up once in a while, and it’s something our readers need to be aware of.  In some areas, the property’s tax assessment is much higher than it should be because of the adjusting market, which definitely warrants concern.  This is especially true in areas where home values peaked back in 2005 or 2006

 

What should people do if they think their assessment is too high?

 


Basically, there are a few approaches you can take.  The most traditional remedy is to file a property tax appeal.
In some areas, you can lodge an appeal at any time, while other states do impose a deadline.  It helps to have some hard data to back up your claim.  For instance, take a look at the tax records of similar properties and see if they have lower valuations.  A good agent can help you with this.

 

You may also have grounds for an appeal if you can show that the “type” of Real Estate you own -- like a condo or luxury home -- has failed to keep pace with the local market. This is especially evident in new developments where builders have had to sell their homes at a loss, or in areas where there have been short sales or foreclosures.

 

So what’s the best first step?

Readers should check with their Realtor to see when the last time the property taxes showed assessment. This will help you track the changes in the market over time. Consider the location, size, and condition of your property to see if the basis for the assessment is accurate.  Even in some states where the properties are identical, the value can differ dramatically due to the time it was built.

It helps to do your homework, and to work with a realtor who can advise you on the process.  We need to restore every confidence to buyers and sellers on their investments, and the taxable assessment is an important factor.

But whatever you choose to do, if you plan on filing an appeal, don’t wait!  Too many local governments limit refunds to the year’s prior bills and if you are up for a rebate for over payment, it’s better to find out now as a seller and as a prospective buyer. 

Palm Springs Area Mortgage Market update!

 

Mortgage Rates Today +/- Last Week
30 yr fixed mtg Graph the three month trend 4.94% 4.88%
15 yr fixed mtg Graph the three month trend 4.71% 4.60%
30 yr fixed jumbo mtg Graph the three month trend 6.41% 6.34%
5/1 ARM

 

1 Canadian dollar = 0.848248 U.S. dollars

 

E-mail me with any questions you might have

Have An Awesome Week!

Rob Zwemmer

 


AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertonline.com/Morning-coffee

 

 

Displaying blog entries 1-7 of 7

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