ANDEE'S CORNER

Archive for February, 2009

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Putting Yourself Out There - Social Networking

Saturday, February 28th, 2009

Having been around for quite a while (no I am not telling you my exact age), I am very familar with networking for  business growth.  And having a bachelor degree in computer information systems, I am not intimidated by computers… BUT  this whole social networking thing has really been challenging for me to get my arms, mind and thoughts around.  Now maybe its because of my age or maybe its because I haven’t stayed 100% up-to-date on technology, or maybe I like my privacy - I don’t know.  Whatever it is, it has/is definitely been a tough transition for me to make. 

BLOGGING

I finally think I have the blogging thing down.  Although it took me 5 or 6 different starts.  Now, I am actually enjoying the blogging. I do struggle with how to make it meaningful and interesting to other people.  I am hopeful it will get better over time …..

TWITTER

I am also twittering, just started that and I’m pretty sure I don’t have a clue what I am doing.  Twittering is pretty fun too.  It seems more difficult than blogging because you only have a few characters to say something thats pertenient to someone reading the twitter.  So, I’m working on making it better every day and to post items of value and interest…  You can check mine out at www.twitter.com/andeeallen.  I would love your feedback!

POD CASTING

I have done exactly 1 pod cast which I never posted because it was too embarassing.  Everyday I tell myself that I am going to pratice and everyday I  find something else to do.  Part of the problem for me is finding the time when I won’t be interupted or at least I use that for an excuse.  Mainly, it scares the crap out of me….  But I will overcome and start doing it…. Just you wait and see.   And if I can do it, you can do it!

I still have a bunch of other  social networking skills to work on - facebook (haven’t done that one yet), myspace (not yet), youtube (YIKES!!), and who knows what the other hundred gillion social networking sites I should be on.    For someone in my generation, this whole social networking phenomenom is scary, intimidating and yet fun.   I also find it challenging to figure out how social networking applies or will apply to selling homes on the Central Coast and SLO County.  So far, it is way out of my thinking range but I can feel it slowly coming into focus.  Until then I am just following directions…

I admire the kids that have grown up with the new technology and have no fear about putting themselves out there  because that is after all what social networking is about.  Putting yourself out there for everyone to see, even complete strangers!

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The Power of Community - Atascadero

Friday, February 27th, 2009

Ok, I’m totally impressed!  I did not realize how talented the people in my small town of Atascadero really are and the amazing things they could accomplish. 

Last night, I was lucky to be able to attend a fund raising dinner for the Atascadero Fine Arts Academy Advanced Strings Students (boy that is a mouthfull).  They are raising money so they can compete with schools across the United State at Disneyland’s Music in the Park.  Attending the dinner was one of the most delightful evenings I have had in a long, long time.  Mouth-watering local wines, tasty delicious Italian food (the best tiramisu ever!),                            delightful strings accompaniment, silent auction (I won the pizza and movie basket), and fun, easy conversation all combined into a very memoriable event.   The Carlton Hotel (only 5 star in the area) hosted the whole event.

But outside of the great food, wine, music and fun - what impressed me most about the whole thing was that only a few parents (unfortunately I wasn’t one of them) put this all together in just a couple of months.  Thanks to their planning and skills, it ran as smooth as clock work - even the HUGE silent auction.  One of the parents (owner of Bueno Tavola in SLO) cooked the complete meal, one parent donated wine for all the tables, and a few others solicited donations and hosted the silent auction.  And let’s not forget the dedicated music teacher - Jean Collins - who is completely and totally committed to these kids!  Me, I just showed up to eat and be entertained - shame on me! 

Atascadero Carlton Hotel

Atascadero Carlton Hotel

Atascadero Fine Arts Academy and the City of Atascadero are truly supreme examples of what make a great community!  I am so impressed and proud to send my kids to school there and live in this town!    What a great place!  AND  what an opportunity for our children!

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Credit Scores - So What?

Friday, February 27th, 2009

Credit scores have a huge impact on the cost of money that is available to you for not only home buying but for just about everything you may want to borrow money for.  The higher your score, the more money and the better interest rate you will get.   For a home mortgage, the median score provided by the three big credit repositories (Esperian, Trans Union, and Equifax) is typically used.

Items that have a critically negative impact on your credit scores are bankruptcy, foreclosure, high credit card debt, slow or late payment history, tax liens, judgements, and a large number of inquires.  Lenders each have their own requirements in regards to these items.  But in general here are what the various numbers mean to you in your quest to get a home loan:

  • Over 700 - qualifies for most programs including state income, no doc, high loan to value cash out, non-owner occupied, and second homes. 
  • 660-699 - often qualifies for many of the programs above but usually with LTV (loan to value) restrictions.
  • 620-659 - Normally require full income documentation.
  • 585-619 - May need to be underwritten as a sub-prime loans with tighter standards.
  • Under 584 - Sub-prime loan - much more difficult to get or qualify.

Generally as scores go down, so do the loan-to-value limits and the interest rates go up.  What this means to you is that you will have to have more money for a down payment and your monthly payments will be higher.

Posted in Financing, First Time Home Buyers | No Comments »

Show me the money ???

Friday, February 27th, 2009

If you are like most people who have been listening/watching the news day in and day out, you are probably under the impression that all the home loans have dried up or that you have to have 30% down and perfect credit to get a loan.  Well, guess what - sometimes you shouldn’t believe everything that you hear.

Now don’t get me wrong, money is definetly tighter than it has been BUT (notice that is a big but) there is still money out there and it isn’t as hard to get it as the media sometimes makes it sound.   There are still loans available that require very little down, stated income loans, FHA, VA, conventional, adjustable, and jumbo loans.   All with different criteria.   But all that means is that you do need to be prepared. 

So if you are thinking about buying or upgrading your Central Coast home, I recommend that talk to a lender now.  The lender can help you get all your ducks in a row before you actually borrow money so that you:

  1. Clean up any potential credit issues
  2. Get the best interest rate possible for your circumstance
  3. Know what documentation you will need to provide
  4. Know how much money you will need for a down payment
  5. Know how much money you can qualify for.

Your lender can be your best friend when buying a home so the earlier you get them engaged, the better the chance you have of getting a great loan at a great rate. 

In any business there are very good people and some not so good people.  If you want a couple of recommendations for lenders in the Morro Bay, Cayucos, Atascadero, or Los Osos area, shoot me an email.

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Buy of the Week - Cayucos Homes

Thursday, February 26th, 2009

Buy of the week is a property that offers a great value for the potential buyer.  Criteria to select this buy of the week changes and is explained with each property.

This week, I have once again chosen a Cayucos home for sale. 

park-outsideThis home boasts a Cayucos in town location with panoramic ocean views park-view1- two bedrooms one bath upstairs and one bedroom one bath downstairs with separate entrance. You can easily walk to restaurants and shopping.  There are fruit trees so you can enjoy your own home-grown fruit.  The adjacent lot is also for sale under a separate listing.  Buy them both, live in one while building your new home on the vacant lot.

park-living

What about those views from the living room ….

Call or email me if you want to see it or want more information.. 

 

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Real Estate Cyber Convention

Wednesday, February 25th, 2009

Check this out!!  Real Estate Cyberspace Society.

 Now why didn’t I think of that?

 http://www.recyber.com

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Buy of the Day - SOLD - Santa Margarita

Tuesday, February 24th, 2009

Buy of the Day is for those outstanding propertiest that are not going to be on the market long due to price, location, and/or ammenities.    This section is only updated when a truly spectacular deal comes up.

3.3 Acres in Santa Maragita for $25,000.  Santa Margarita acreI don’t know where else on the Central Coast, San Luis Obispo County or Santa Barbara County that you can find a piece of land for under $100,000 much less for $25,000.  Ok, there are some properties that can’t be built on or there are no water rights if you want long term speculation.  This property is fairly steep but has a couple of nice flat areas for building that dream home or investment home.  Also a great starter property for a first time buyer.

To check it out, call me - 805-268-1292.

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California Budget for Home Owners

Monday, February 23rd, 2009

Believe it or not but Sacramento finally delivered the 2009 - 2010 California budget to Governor Schwarzenegger.   It’s pretty detailed and I am in no way, shape or form able to decifer all the details of it so I will just focus on the parts that will affect you as a homeowner or a potential homeowner…

The budget includes a tax credit (equal to the lesser of 5 percent of the purchase price, or $10,000) for the purchase of a single-family residence that has never been occupied, as a principal residence, between March 1, 2009, and March 1, 2010.  Guess they are trying to get rid of the all the new home inventory… So what do you suppose that means will happen to the existing home inventory?  For the life of me, considering the current state of real estate in California, why don’t they offer it on all home purchases?   Guess you had to be there to hear the debates to truly understand.  But hey, $10,000 is nothing to sneeze at (of course you better be prepared to get an IOU if this tax credit means you have money coming back at the end of the year).   Might be a good time to check out the new homes in Atascadero, Morro Bay and Templeton.  There are probably some screaming deals from the developers that would put you in a brand new dream home before the end of the year…

The California legislature is also imposing a 90-day additional delay in foreclosure sales in an attempt to force lenders to implement a proactive system to help homeowners with homes in default.  Sometimes, I wonder why I am paying my mortgage payments.   I could be living mortgage payment free right now… (ok, I know why I’m paying - I am being facetious). 

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Improved First Time Home Buyer $8,000 Tax Credit.

Friday, February 20th, 2009

Wouldn’t you know it - as soon as I post something, the government changes it.  I’m talking about the First Time Home Buyer’s Tax Credit.  And just when you were starting to think I knew what I was talking about…  Thank goodness it is the new and improved tax credit!  So here’s the new deal (or the amended American Recovery and Reinvestment Act of 2009 as it is formally known):

DISCLAIMER:  Please consult your tax advisor / accountant to determine whether you are eligible for this tax credit before making any decisions or changes to your tax status.   

 Tax credit has been increased from $7,500 to $8,000.


Homes have to be purchased before December 31, 2009


If you occupy and hold the home for 36 months, you do not hava to repay the credit (this time it is a true loan!) 
  1.  The Tax Credit is for home buyers who have NOT owned a principle residence during the three-year period prior to the purchase.  
  2. The maximum credit is $8,000 or 10% of the home purchase, whichever is less.
  3. The credit is available for homes purchased between  January 1, 2009 and before December 31, 2009. 
  4. To qualify for the full tax credit, married couples’ modified adjusted gross income should be under $150,000 and single filers’  should be less than $75,000. Partial tax credits may be available for married couples with incomes of over $150,000 but under $170,000 and single filers with incomes over $75,000 but under $95,000.  If married couples who qualify for the first-time tax credit file separately, they would both claim 5% of the home purchase or $4,000 each (whichever is less) on their tax returns.
  5. Home buyers who qualify for this program, but who do not intend to purchase a home till the end of 2009, may elect to alter their tax withholdings (up to the amount of the of the tax credit) in order to save up money for a down payment.  However, if the purchase of the home does not occur, the taxes must be repaid to the IRS.
  6. There is no recapture or repayment clause IF the home is owned for at least 36 months. 
  7. The law allows taxpayers to elect to treat qualified 2009 purchases as a 2008 purchase so that they can receive the tax credit on their 2008 tax returns.
  8. The full amount of the eligible tax credit is refunded to the buyer, regardless of whether the buyer has paid an equivalent amount in taxes.

 

Buying real estate in San Luis Obispo County just got better!! 

 

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Buy of the Week- SOLD - Cayucos - Just got BETTER

Friday, February 20th, 2009

Cayucos HomePRICE REDUCTION - now only $459,000…

Every week, I highlight what I think is the best buy in San Luis Obispo Area - focused primarily on Morro Bay, Cayucos, or Los Osos.    This Cayucos, California home for sale fits the bill this week.  Check out the view.

Cayucos is my absolute most favorite town on the Central Coast in San Luis Obispo County.  The sandy beaches with very few people but lots of wildlife, tide pools with starfish (I even saw a baby octopus once), crabs and sea anomies and a very quaint down town area with lots of restaurants and antique stores.  It’s very quite and the locals are very friendly.  It also boasts some expensive beach front and ocean view properties.  That’s why this week’s Buy of the Week is such a great deal.  It is a 3 bedroom, 2 bath home with unblockable ocean views.  I chose it because:

  1. It is priced right at $495,000
  2. It is immaculate
  3. It has beautiful ocean views
  4. It is totally darling and would make a great first home or second home or vacation rental. 

This Cayucos home has an unblockable close up view of the blue Pacific water. You can watch the surfers ride the waves and enjoy the most breathtaking sunsets. This is not a drive-by. The interior, backyard and views are worth seeing. Its been enchantingly remodeled and every inch of space has been well utilized to make this small home very livable and a great vacation get away. The floor plan is open and bright. Views from all bedrooms. Licensed vacation rental. It makes a great vacation beach home, first time home, starter family home, or a home for anyone wanting to downsize.  This is one of those - location, location, location and Cayucos is the perfect location.

Email me at andeen@charter.net or call me for more info or to go see it!  You will fall in love with this house and you can’t beat the price.

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