It's a great time to buy!!

Interest Rates have dropped which make it a great time to buy!

30 year fixed rates today for a $250,000 loan:

5.250 at 0 points
4.813 at 1 point


This information is from our local Loan Officer or Mortgage Advisor.
I encourage all inquiries to be directed to me.

It's a Great time to buy!

C.A.R. Mortgage Update

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has created consumer information sheets detailing the various mortgage modification programs available through the larger lenders and government entities, and also has created an easy-to-use reference chart about available programs.

· The consumer sheets contain information such as eligibility requirements; who to contact to apply; costs associated with the program; and other vital data. In general, the loan modification programs on the chart and consumer information sheets are intended for primary residences only.

· Mortgage loan modifications typically are handled on a case-by-case basis. Homeowners having difficulty meeting their mortgage obligation or interested in finding out more about a loan modification program should start by contacting their lender. Prior to calling a lender or loan servicer, homeowners should have the following information available: loan number; income information and documentation; most recent mortgage statement; bank statements; and a letter demonstrating financial hardship.

To download the mortgage modification sheets, please visit:
http://www.car.org/legal/mortgage-workout-programs/?view=Standard

reprinted from C.A.R. article

The Kaufman House updated

After the Harrises divorced, the home was supposedly sold on May 13, 2008 for $15 million at auction by Christie's as a part of a high-profile sale of contemporary art.[2]; The house had a presale estimate of $15 million to $25 million.[1] The sale later fell through, as the bidder breached terms of the purchase agreement *.

The restoration was critically lauded. Today, most critics place the Kaufman House amongst the 'five most important houses of the 20th century', with the likes of Fallingwater, Robie House, Gropius House and the Gamble House, all located in the United States.

reprinted from Wikipedia

From an article in the newyorktimes.com, 5/14/08

Considering that a painting went for more than $50 million, the Kaufmann House, in Palm Springs, Calif., a 1946 Modernist landmark in glass, steel and stone designed by the architect Richard Neutra, was a veritable bargain. It was being sold by Brent Harris, an investment manager, and Beth Edwards Harris, an architectural historian, who are divorcing.
The home, which was originally commissioned as a desert retreat by Edgar J. Kaufmann, the Pittsburgh department store magnate for whom Frank Lloyd Wright built Fallingwater in Pennsylvania a decade earlier, met its low $15 million estimate (or with commission, $16.8 million).
After the sale, Marc Porter, Christie’s president in America, said the buyer, whom he declined to name, exercised an option to purchase an orchard adjacent to the property for an additional $2.1 million that includes three cacti that were a present from Frank Lloyd Wright to Mr. Kaufmann on his first visit to the home.
It isn’t the first time a Modernist house has been sold at auction. Over the years both Christie’s and Sotheby’s have offered such architecturally important dwellings as Mies van der Rohe’s Farnsworth House and a 1950 town house on East 52nd Street that Philip Johnson designed as a guest house for Blanchette Rockefeller, the wife of John D. Rockefeller III.

C.A.R. GREEN TIP OF THE WEEK: KILL A WATT AND SAVE A BUCK

Your office probably has machines or plugs that "suck" electricity or use electricity on a constant basis with no benefit to the company, i.e., printers, chargers for portable devices, etc. One way to identify these amperage-sucking "vampires" is to connect these devices to the Kill-a-Watt TM Electricity Usage Monitor (retails for approximately $24).The Kill-a-Watt TM unit's large LCD display counts consumption by the kilowatt-hour, the same as your local utility. You can calculate your electrical expenses by the day, week, month, or year. You'll know if it's time for a new refrigerator in the office break room or if that old air conditioner is cost-efficient. Available from Amazon.com or other online vendors.C.A.R.'s "Green Tips" are a new feature of "C.A.R. Newsline" and are part of the Association's effort to raise member awareness about environmentally sound practices and offer REALTORS® ideas for greening their business practices and better serving their green-minded consumers. For more green real-estate-related tips and discussion, visit C.A.R.'s green blog: http://www.car.org/blogs/index.php

Five Tips for a Green Home

Five Tips for a Green Home

Eco-friendly. Carbon footprint. Global warming. Energy-efficient. These catch phrases have become part of our lexicon as we’ve become more aware of our impact on the environment and our role in protecting it. As a homeowner, there are some simple, inexpensive steps you can take to make your home energy-efficient. Get started on the road to being “green” with these five tips:
Change Your Light Bulbs By replacing just five incandescent light bulbs with compact fluorescent (CFL) bulbs, you can save $100 per year on electric bills while using up to 75 percent less energy and removing greenhouse gases from the environment.
Buy ENERGY STAR® Appliances ENERGY STAR-qualified appliances, such as refrigerators, washers and air conditioners, meet a higher level of energy efficiency set by the Environmental Protection Agency and U.S. Department of Energy than standard models. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be compared to planting 1.7 million new acres of trees. And, switching to these appliances is not only good for the environment, but easy on your pocketbook. Although these appliances may costs more, you can reduce your energy bill by $80 per year.
Seal Up Cracks and air leaks represent cash seeping from your doors and windows. Get rid of air leaks in doors, windows and other areas by caulking gaps and cracks. This will help decrease your heating and air conditioning bill. But make sure you use silicone sealants. Acrylic caulk tends to shrink, while silicone sealants are waterproof and won’t shrink or crack, creating less waste.
Use Less Water Did you know that roughly 60 percent of a home's water consumption takes place in the bathroom, according to the California Urban Water Conservation Council? The largest culprit is the toilet, which accounts for 27 percent of your household supply every year. By installing low-flow toilets, showerheads and faucets, you can save thousands of gallons of water each year. In addition, replace leaky fixtures. That slow-dripping faucet can waste as much as 2,400 gallons of water per year.
Adjust the Thermostat When adjusting your home’s thermostat, the rule of thumb should be: turn up the dial in the summer and down in the winter. Lowering the temperature by just one degree will reduce your electrical costs. And if you use a programmable thermostat, you can program your air-conditioning and heating systems to reduce output while no one is at home or at night while you sleep. Ceiling fans are also helpful in circulating the air to keep the room cool in the summer and warm in the winter.
Going green doesn’t have to be overwhelming or costly. By making just a few small changes within your home, you can help decrease energy consumption and help make the world a “greener” place.

FED CUTS KEY INTEREST RATE IN AN EFFORT TO FURTHER BOOST ECONOMY

The Federal Reserve on Tuesday lowered the federal funds rate 75 basis points to 2.25 percent citing continued concerns about the country's softening labor market, stalled consumer spending, and turmoil on the financial markets over the mortgage credit crisis."Today's policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity," the Fed said. "However, downside risks to growth remain. The Committee will act in a timely manner as needed to promote sustainable economic growth and price stability." according to C.A.R. [California Association of Realtors]