Check Out Google’s New 411 Service!

It might be time to lug that stack of phone books you just received to the trash can! Check out Google 411 and then decide.

1-800-GOOG-411, Google’s new 411 service is totally FREE, fast and easy to use. Give it a try now and see how simple it is to find and connect with local businesses for free. I love it, it’s awesome with a hand-free Bluetooth system.

 

Tip: Always use categories, never business names.

If you decide to throw your phone books out in favor of GOOG-411, opt-out and never have to lug or store another bulky phone book again? Below are the numbers to call for the major distributors of phone books and yellow pages. Call the numbers and tell them you want to opt-out of delivery – it only takes a few minutes.

AT&T/YellowPages (formerly SBC):

(800) 792.2665

Verizon:

(888) 266.5965

Yellow Book:

(800) 373.3280 or (800) 373.2324

STUNNING Deer Creek Home! 5673 Bonita Ave.

This Large, Yet Cozy, Deer Creek Home Nestled High In The Foothills Boasts Space Galore. This Private Tennis Court Property Has The Look And Feel Of A Five Star Resort. Sparkling Pool and Bubbling spa, Sprawling Green Landscape, Gorgeous Kitchen With Granite Counter Tops, Spacious Bedrooms And Romantic Bathrooms With Marble And Travertine Inlay, custom plantation shutters, ample storage areas, 3-car attached garage w/new roll-up garage doors Are Just A Few Of The Features You’ll Appreciate In This Executive Masterpiece. Come See For Yourself And Enjoy! presents a functional plan designed for casual elegant living: formal dining area, casual living area, and numerous other interior embellishments!

Visit www.5673BonitaAve.com for more information!

Credit Crisis Cripples The Market

Just last week, American Home Mortgage and its wholesale counterpart, American Brokers Conduit, became the latest casualties of the credit crisis. Last year, this company closed over $58 billion in home loans. Despite being, by all accounts, a well-run business, market conditions forced them to file for bankruptcy, leaving nearly $800 million in loans unable to close. Tens of thousands of borrowers have now been left without financing as a result of companies like this going under. Clearly, with over 100 national lenders having now closed shop in the last eight months, this is no longer simply a subprime lending issue. The credit market is experiencing unprecedented turmoil that, according to Mike Perry, CEO of Indymac Bancorp, is “broader and more serious than past disruptions.”

What does this mean for to the real estate market?

• Sellers can no longer be reluctant to accept offers or reduce prices. Tightening credit and diminishing mortgage products will continue to reduce the pool of qualified buyers. This, along with the increase in national inventories, means now is not the time to hold out for the “best” price possible.

• Buyers with credit issues or who have difficulty providing required documentation can no longer sit on the fence. If market conditions change, buyers who qualify for a loan today may not qualify a few weeks from now for the same exact loan. Just this week, many lenders have stopped offering no-Doc loans, and some lenders have even pulled back on all forms of stated loans. As market conditions continue to change, a buyer’s pre-approval status can disappear even more quickly, delaying or spoiling the deal.

• Subprime and Alt-A refi candidates, especially those with ARMs scheduled to reset over the next 12 months, need to act now – even those with a pre-payment penalty. ARMs borrowers struggling with monthly payments now might be shocked to know that monthly payments can double in some cases once an ARM resets.

What does this mean to you?

As educated Real Estate and Mortgage professionals, we feel it’s our responsibility to educate and inform you. Please feel free to utilize our experience and resources to help navigate through these turbulent times. Don’t leave your future in the hands of random mortgage providers. We’re local, accountable, and you can trust us to discuss this or any other strategies to survive in today’s challenging market. Don’t hesitate to call us. We’re happy to speak with you.

Not Your Average Joe

That’s right . . . It’s Trader Joe’s! And they’re finally coming to Rancho Cucamonga.

Trader Joe’s one of Southern Californians most recognized specialty grocers in the marketplace has found a home at Haven Avenue and the 210 freeway in the Haven Village Shopping Center. For Trader Joe fans that’s a big reason to celebrate.Trader Joe’s, a privately owned specialty grocery chain with approximately 280 stores across the country, offers a variety of imported gourmet, organic and vegetarian foods, unusual frozen foods, domestic and imported wine and basics like bread, cereal, eggs, and produce. They also carry non-food items like personal hygiene products, household cleaners, vitamins, pet food, plants and flowers. The Rancho Cucamonga Trader Joe’s, which is planning to open sometime in the 4^th quarter of 2007, will be located in the Haven Village Shopping Center next to the newly remodeled Von’s where the old Sav-on Pharmacy use to be. Kudos to the Rancho Cucamonga Redevelopment Agency for having a Trader Joe’s join the growing roster of sought-after retailers that already call Rancho Cucamonga home.

Don’t Miss Out On What Rancho Cucamonga Has To Offer!

Living in Rancho Cucamonga is blast – but do you really know how much there is to do here? It’s a good bet you’ll find something new for you and your family to enjoy in the Rancho Funbook. Check out more here!

Looking for Fun? Visit the Victoria Gardens Cultural Center!

There are so many things to do at the Victoria Gardens Cultural Center, you won’t know where to start! Visit the Paul A. Biane Library at Victoria Gardens, the Lewis Family Playhouse, and Celebration Hall. Find out more by clicking here.

Protect Yourself. Protect Your Identity.

WHAT HAPPENS AFTER YOUR MORTGAGE ORIGINATOR PULLS YOUR CREDIT REPORT?

1. Your mortgage originator pulls your credit report from the credit bureaus to obtain your credit score and process your loan application.

2. The credit bureaus may place your personal information on a prescreened list (also called a trigger list).

3. Within hours the credit bureaus may sell the list to hundreds of companies. Your mortgage originator does not authorize the sale of your personal information and cannot stop it. Only you have the ability to stop this practice.

4. Within hours you begin to receive phone solicitations for mortgage products from numbers and companies you don’t recognize.

5. Within days you begin to receive mail solicitations for mortgage products.

WHAT TO LOOK OUT FOR

1. The “bait-and-switch” scheme. This scheme is run by companies who get business by luring consumers in with low rates and then switching the loan product.

2. Solicitations (phone and mail) that appear to be from your current mortgage company. Always confirm who you are speaking with.

3. Solicitations asking for pin numbers, passwords, your mother’s maiden name and/or your social security number.

4. If you believe you have been the target of one of these deceitful practices or some other abuse of the system, please report the incident to the Federal Trade Commission at 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.

WHAT YOU CAN DO

1. Opt-Out of prescreened offers.

2. Register with the Do-Not-Call Registry, www.donotcall.gov.

3. Contact the Federal Trade Commission.

4. Contact Congress.

5. Stop other forms of direct marketing by visiting the Direct Mail Association’s Web site at: www.dmaconsumers.org/consumerassistance.html.

Worried? Want To Do More To Protect Your Information?

Voice your concerns by calling your Congressional Representative at 202-224-3121.

FAQs

WHAT IS A PRESCREENED OFFER OF CREDIT OR INSURANCE?

A firm offer of credit or insurance is defined as any offer of credit or insurance to a consumer that will be honored if the consumer is determined, based on the consumer’s credit report, to meet the specific criteria used to select the consumer for the offer, subject to certain confirmation requirements.

WHAT IS OPT-OUT?

Opting-Out refers to the process of removing your name from lists supplied by the Consumer Credit Reporting Companies, Equifax, Experian, Innovis and TransUnion (“Credit Bureaus”), to be used for firm (pre-approved /prescreened) offers of credit or insurance. Your rights as a consumer under the Fair Credit Reporting Act include the right to “Opt-Out” for 5 years or permanently.

HOW TO OPT-OUT

You can opt-out by visiting www.optoutprescreen.com or through the toll-free telephone number, 888-567-8688. When you call or visit the website, you’ll be asked to provide personal information, including your home telephone number, name, Social Security number, and date of birth. The information you provide is confidential and will be used only to process your request to opt out.

DOES EXERCISING MY RIGHT TO OPT-OUT AFFECT MY ABILITY TO APPLY FOR CREDIT OR INSURANCE?

No, removing your name from these lists does not affect your ability to apply for or obtain credit or insurance.

DOES OPTING-OUT IMPROVE MY CREDIT SCORE?

No, since inquiries for firm offers for credit or insurance are not used in calculating credit scores, Opting-Out does not improve your credit score. Similarly, inquiries for firm offers for credit or insurance do not reduce your credit score.

HOW DO I CONTACT THE FTC?

Federal Trade Commission

Consumer Response Center

Room 130600 Pennsylvania Avenue, N.W.

Washington, D.C. 20580

www.ftc.gov/credit/

How Homeowners Are Making The Most Of Outdoor Spaces

Have fond memories of sleeping under the stars as a child? Apparently it’s not just for kids anymore. The Washington Post reports that many homeowners are moving their bedrooms outdoors. The kitchen and living room were the first to move out; now major retailers are introducing all-weather furnishings for outfitting the al fresco bedroom–everything from weatherproof mattresses, mildew-proof pillows and mosquito-netting canopies to all-weather flat-screen TVs, chandeliers, lamps and rugs.

The Great Outdoors

What’s fueling the demand in outdoor living spaces? Experts point to a number of reasons, including the fact that homeowners want to invest more in their property as the cost of land rises. One trend forecaster says it’s all about “celebrating and embracing nature” while another insists it’s simply because we have no more room inside our homes.

According to research by Kiplinger’s, homeowners are expected to spend more than $40 billion this year creating outdoor living retreats, the second-most popular home remodeling project after remodeling kitchens.

Wise Improvements

There are dozens of ways to improve your outdoor living space, but some projects and amenities are more likely to add value to your property than others. Experts say patios paved in high-quality brick or stone, perhaps with a covering to provide shade and protection from rain are a good bet. Outdoor kitchens complete with refrigerator, grill and sink can also add value, but beware the pricey weatherproof television, which many considered a luxury item. What about the outdoor fireplace or firepit? While portable firepits are a relatively inexpensive way to create a cozy outdoor setting, built-in fireplaces can cost a pretty penny, some say up to $35,000.

Swimming pools, as many landscape designers can tell you, can add or detract from the value of your property depending on the type of pool you have. Custom-made pools get the thumbs up from experts while prefabricated pools get a thumbs-down.

If you’re thinking of moving more of your living space outdoors, we can help you determine what remodeling projects and amenities will add value to your home now and bring you top dollar if you decide to sell. Contact us!

Reverse Mortgages

Reverse Mortgage: Does it really make sense?

Traditionally reverse mortgages have been a convenient way for seniors in need of cash to access some of the equity in their home to supplement their lifestyles. I’m coming around to the idea of the concept of reverse mortgages because it’s becoming apparent that they enable seniors to do more than augment their income. Of course I’m probably seeing more merit in them too because I am quickly becoming a senior.

Maintaining one’s independence is a very important priority and a reverse mortgage can make it possible for seniors to extend that independence significantly. Part of maintaining one’s independence has to do with being able to remain in one’s home. The expenses associated with living in a house can often prove overwhelming for seniors who may not have the physical wherewithal to perform maintenance tasks around the house.

This could be one very good way of putting a reverse mortgage to work. For those who are unfamiliar with the concept of a reverse mortgage, it is a financial product that’s exclusively geared toward mortgage free seniors. A reverse mortgage enables seniors to tap into the equity of their home, in some cases by as much as 60% of the total value, without ever having to make a payment. The financial institution advancing the funds will take repayment plus the agreed-upon accrued interest upon the eventual sale of the home or upon the demise of the owner, regardless of how long it takes.

So if you own a home worth $500,000 and you want to take a reverse mortgage, say for 60% of the home’s value, the financial institution advances $300,000 to the senior owning the home and the senior can use these funds in any way he or she wishes without ever having to repay a cent until the home is sold or the senior passes away.

At that time, the financial institution, which has a mortgage secured on the property, is entitled to sell the property and take its principal and interest from the proceeds of the sale, or the senior’s heirs can pay out the principal and interest and keep the home. In either case, any amount above and beyond the mortgage and interest must by law be turned over to the senior’s estate.

Personally, I like the idea of a reverse mortgage. Many seniors don’t because they’re thinking about their children’s inheritance. But then, when you consider that in the United States inheritance taxes are confiscatory, to put it mildly, and probating a will is very expensive; it only makes sense to enjoy the fruits of your labor while you’re still alive. Besides, your grown children should be able to look after themselves without counting on a windfall from your death.

So, does a reverse mortgage make good financial sense? Overall I’d say it does and I think many seniors would benefit greatly by tapping into the equity of their home to help maintain their independence.

Call Toll-Free 1-877-476-9600 to speak with one of our Loan Specialist to find out more about reverse mortgages or to request more information. There is no obligation or cost for their services.

5 – 4 – 3 – 2 – 1

The timer counted down

I can’t believe it’s finally here. Friday, June 29th. After months of hype . . . endless promotional campaigns . . . lots of media exposure; the anticipation; the build up.

At 6 p.m today hundreds came to the Apple Store in Victoria Gardens and local AT&T retail outlets, with 3 things in their pockets and purses (an i Pod, a PDA, and a cell phone) hoping to leave with just one thing . . . the new Apple iPhone.

Everybody had the same goal in mind, to be among the first to lay their hands on Apple’s new I Phone before everyone else.

Does it live up to the hype? You be the judge!

Pros – The iPhone offers an amazing resolution, with a clear, bright screen, and organic-looking buttons and an interface with all kinds of visual cues to let you know what you can and can’t do. For example, when viewing photos, you scroll with a finger flick to the left and right. But what happens when you try to scroll up and down? If nothing happened, you’d think there was something wrong. So instead, Apple has made it so the image moves up a couple of centimeters but “bounces” quickly back down. In other words, it lets you know the phone recognized your action but also shows you the action cannot be done. Also, the “finger pinch” action for zooming in on things will make you smile the first few times you do it.

The iPhone offers a 3.5-inch screen that offers widescreen viewing that looks so good that you can put your laptop in the overhead bin on long flights and watch movies and TV shows on the iPhone.

Cons – AT&T’s EDGE network is as slow as everyone says it is—going to even the simplest Web page takes minutes. But if you are on a Wi-Fi network, things are relatively speedy. You’re not going to throw away your laptop in favor of browsing on the iPhone. But you will use the Net features for quick information hits while you’re in an airport, stuck on a bus, in class, and so forth.

The iPhone’s camera is only a 2-megapixel camera phone with all the limitations of any other camera phone—it has no flash, no zoom and, while the entire screen becomes the viewfinder, it does a poor job of capturing motion or images in low-light conditions.

I was also disappointed to learn that the iPhone will not wirelessly sync with your Mac but syncing is still fairly easy.

The iPhone is not the Perfect Device. But it’s a real cool piece of technology that does a lot of things surprisingly well – And we know the next generation will only get better!