I received this today from a friend and loved it- thought I’d share it with you!  Have a great night! - VG

Ten Rules to Live By 

Count your blessings.

Today, and every day, deliver more than you are getting paid to do.

Whenever you make a mistake or get knocked down by life, don’t look back at it too long.

Always reward your long hours of labor and toil in the very best way, surrounded by your family.

Build this day on a foundation of pleasant thoughts.

Live this day as if it will be your last.

Laugh at yourself and at life.

Never neglect the little things.

Welcome every morning with a smile.

Search for the seed of good in every adversity.

 I wonder if Bush will REALLY veto this?  - Vicki 

Congress went back for a second helping Thursday afternoon.

After passing, 239 to 188, a bill sponsored by Rep. Maxine Waters (D-CA) that would allot $15 billion in loans and grants to states to buy up and rehabilitate foreclosed properties the whole House took on and passed a second, broader, piece of legislation that would authorize the Federal Housing Administration to insure a wider variety of home mortgages.

The second bill, introduced by Rep. Barney Frank (D-MA), was passed by a vote of 266 to 154. Every Democrat present voted for the bill but only 39 Republicans supported it and most of those were from states ranking high in numbers of foreclosures - Nevada, Michigan, Florida, and Pennsylvania.
The President has made it clear that he is opposed to both Waters’ and Frank’s plans and will probably veto both.

The latest bill would allow lenders to reduce their exposure to foreclosures if they agree to cut the outstanding balance of an existing loan, thus allowing homeowners to refinance into a new loan that would be FHA insured. The reductions taken by lenders are substantial and must be based on new appraisals that should reflect current home pricing levels.

The Bush Administration has opposed the legislation as a tax-funded bailout for lenders and speculators even though Frank included two measures near and dear to the president’s heart - a revamp of the FHA and greater government control over Fannie Mae and Freddie Mac.

The Senate is currently wrestling with its version of the Frank bill but Republicans are shying away from supporting it because of the president’s opposition. The House may be able to override a presidential veto, but it is unlikely that the Senate with its smaller Democratic majority will be able to do so.

Also on Thursday afternoon the Department of Housing and Urban Development announced a new plan to expand its FHA Secure program. FHA Secure in its current form has come under fire for failing to help more than a handful of distressed homeowners. The expanded program would permit FHA to charge premiums based on credit risk. At present all borrowers pay the same premium for insurance coverage.

Source: http://www.mortgagenewsdaily.com/592008_Foreclosure_Assistance.asp

If you are waiting to buy a house until the ”interest rates are good” give me a call NOW!  I want to make sure you align yourself with a GREAT mortgage professional who will help you get the loan that will best fit YOUR NEEDS.  Call me at 310-544-7545, I don’t want you to just be someone’s paycheck, I want you to be their valued client!   

30-Year Mortgages Edge Down Slightly
Freddie Mac Chief Economist Frank Nothaft says the housing slump, along with rising mortgage delinquencies and foreclosures, has taken a toll on homeownership rates and prevented significant movement in mortgage rates during the week ended May 8.

The 30-year fixed rate slipped to 6.05 percent from 6.06 percent a week ago, while the 15-year fixed rate bumped up to 5.60 percent from 5.59 percent. Over the same period, the five-year adjustable mortgage rate fell to 5.67 percent from 5.73 percent; and the one-year ARM held steady at 5.29 percent.

Nothaft cites a report from the U.S. Census Bureau that indicates a decline in the national homeownership rate to 67.8 percent in the 2008 first quarter from 69 percent in the 2006 third quarter.

Source: Northwest Indiana Times (05/09/08), Martin Crutsinger

What a great week I have had in Austin, Texas this week!  I spent time with over 400 agents sharing ideas and best practices to help our Buyers and Sellers in this changing market.  Meeting with leadership throughout the country let me realize what a great market we are in right now.  This is an ideal time for Buyers to take the first step towards home ownership.  I am bringing home 10 copies of Gary Keller’s new book and would love to share them!  Click here to read a review of the book!  See y’all when I get home!

If any of you have ever caught a glimpse of me on the road (or driven with me, Lord help you!) you know I am always on my cell phone.  I’ve heard lots of rumors about the new cell phone laws going into effect as of July 1st, so I did some research to make sure I knew the facts.  Basically: start looking for one of those ear-thingy-bluetooth-things now! (I’ve tried a few and haven’t found one I like yet.  Tony got me a cool speakerphone thing at Costco that seems to work pretty well, but I have to remember to take it inside and charge it every few days!) As of July 1 you won’t be able to use a handheld cell phone- you will need a speaker phone or some kind of hands-free device.  Here are the details, straight from the CHP (don’t worry- it’s a Q and A, not just legal eagle talk!) http://www.chp.ca.gov/pdf/media/cell_phone_faq.pdf  If you have found an ear piece you like, drop me a line- I’d like to find one!

Hi again!  I saw this article on Forbes.com and thought it was something worth passing on.  Of course, this advice varies on house to house.  If your house is already well maintained and you have been thinking about improvements, check out the link and the following article.  The first thing you need to think about: am I planning on living here the rest of my life, or only for a few more years?  The answer to that question really should be the guiding factor in picking and choosing what upgrades and improvements you may make. Before you start, I’d love to come over and let you know how your planned improvements will affect the value of your house.  Talk to you soon! - Vicki

In Depth: 10 Recession-Proof Home Improvements

Read the rest of this entry »

Here is a great update I wanted to share- it’s straight from a Lender I work with, Scott Davis from Platinum Capital.   Have a GREAT Monday!  - Vicki Last Week in Review

	“NO GREAT DISCOVERY WAS EVER MADE WITHOUT A BOLD GUESS.” Isaac Newton But even the great mind of Isaac Newton might not have guessed that Bonds and home loan rates would continue on such a volatile course. But let’s get bold, and discover what caused the latest rock and roll action in the financial markets, and take a look at what the coming week might have in store.Forces were certainly at work to keep the financial markets from being at rest, starting bright and early on Monday morning. The headlines brought a quick shot in the arm for Stocks, as beleaguered Bear Stearns is now expected to see $10 per share in their buyout, rather than the previously expected $2 per share. Great news for the troubled financial sector at large, but Bonds got battered hard, as money flowed out of Bonds and into Stocks - causing home loan rates to rise.But as the week progressed, some dismal news played out, including a plunge in Consumer Confidence and mixed news on the housing market, which pulled the money right back out of Stocks, and into the safe haven of Bonds…helping home loan rates improve again. But like Newton’s famous third law of motion, “every action has an equal and opposite reaction” - Bonds and home loan rates changed course again, on better than expected unemployment claims on Thursday.Then Friday brought the discovery that Core inflation is perhaps not as hot as previously thought. The highly watched year-over-year core inflation rate was reported at just 2%, as measured by the Fed’s favored Personal Consumption Expenditure Index (PCE), and within the bounds of what the Fed would like to see for core inflation. Since inflation is the arch enemy of fixed return Bonds and home loan rates…this news was good indeed, and caused home loan rates to improve once again. Once the dust settled for the week, home loan rates ended up near where they began, before their weekly roller coaster ride.WHILE THE MARKETS REMAIN HIGHLY VOLATILE AND UNCERTAIN, AT LEAST TWO THINGS IN LIFE ARE CERTAIN - DEATH AND TAXES. BUT THIS YEAR, SOME GOOD NEWS FOR A CHANGE AT TAX TIME, WITH THE REBATE CHECKS MANY HAVE IN STORE. WANT TO BE CERTAIN ABOUT WHEN TO EXPECT YOURS…AND HOW MUCH IT MIGHT BE? DON’T MISS THIS WEEK’S MORTGAGE MARKET VIEW!

Forecast for the Week

	The Bond market will gravitate towards news from the job market this week, with employment information due to arrive on Wednesday and Friday. Although Wednesday’s ADP Employment Report has a history of being somewhat unreliable in predicting the “official” Jobs Report number, Bond traders will still try to use it to predict what the Department of Labor’s report will show on Friday. And this week, the estimates are negative - meaning no job creations are expected, net job losses are what is anticipated - so any positive reads could be good news for Stocks, but bad news for Bonds and home loan rates. So…surprise, surprise…more volatility for Bonds and home loan rates is likely in store, between the ADP Report release on Wednesday, and the arrival of the Jobs Report on Friday morning.Remembering that when Bond prices move higher, home loan rates move lower - you can see that the chart below shows some good news. The black line indicates a “floor of support” created by the Bond’s 50-day Moving Average - and you can see that the floor is helping Bonds hold their present levels, and if the floor holds, could potentially help them improve even more.While Bonds and home loan rates could react to early week news of housing and manufacturing, the employment news will definitely be the talk of the week, and any surprises will likely cause a swift reaction.Chart: Fannie Mae 5.5%% Mortgage Bond (Friday Mar 28, 2008)

The Mortgage Market View…

	TAX REBATES MAILING SOON… WHEN WILL YOU GET YOURS?Last month, President Bush signed the Economic Stimulus Package into law - setting aside $168 billion in tax rebates and incentives to help boost the US economy. As we head into spring, those tax rebates are getting ready to hit the mail. So when should you expect yours? That depends on a few factors, including when you file your 2007 tax return, whether you choose direct deposit, and believe it or not…what your social security number is.Timing Is Everything! We all know the deadline for filing your 2007 taxes is quickly approaching. But you may want to be ahead of the curve if you want your tax rebate sooner, rather than later. That’s because tax rebates will start going out on May 2… but only to taxpayers who have their returns “processed” - not just sent - by April 15. The closer it gets to mid-April, the more the IRS gets backed up to process the flood of returns–sometimes taking a couple of weeks to complete. E-filers will get their rebates more quickly, since electronic returns can be processed faster. However, even e-filers should have their returns in by April 10 to be safe.Would You Like Paper? Or Electronic? Tax rebate checks will start going out on May 2. But here’s the deal… taxpayers who chose direct deposit will be first in line. According to the IRS, all direct deposit tax rebates will be wired between May 2 and May 16. Paper checks won’t start going out until May 16, and aren’t expected to be completed until mid-July.What’s Your Number? The IRS needs some way to determine the order of distributions - but they’re not going alphabetically. Instead, tax rebates will be distributed in order of the last two digits of your Social Security number…the lower your number, the sooner you’ll receive your payment. For a detailed breakdown of the order, take a look at the IRS’s Stimulus Payment Schedule.About seven to ten days before your rebate is sent, the IRS will send you a notice informing you how much it will be. If you signed up for direct deposit, however, you’ll probably receive that information in the mail about the same time your rebate is deposited into your account, since direct deposit transactions are processed so quickly. But you don’t have to wait that long to determine approximately how much you’ll receive. To calculate your approximate rebate, visit the new online stimulus calculator on the IRS website.Finally, it’s important to remember that the rebate check will not be counted as taxable income and will not reduce your refund or increase the amount you owe when you file your 2008 return. However, if you owe back taxes, the IRS will apply your rebate to that bill and send you whatever is left over.For more information, visit the Economic Stimulus Package Information page on the IRS website. You can even read detailed answers to Frequently Asked Questions.

The Week’s Economic Indicator Calendar

	Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise. Economic Calendar for the Week of March 31 – April 04 Date ET Economic Report For Estimate Actual Prior Impact Mon. March 31 09:45 Chicago PMI Mar 46.7   44.5 HIGH Tue. April 01 10:00 ISM Index Mar 48.2   48.3 HIGH Wed. April 02 08:15 ADP National Employment Report Mar -23K   -23K HIGH Wed. April 02 10:30 Crude Inventories 3/29 NA   88K Moderate Thu. April 03 10:00 ISM Services Index Mar 49.2   49.3 Moderate Thu. April 03 08:30 Jobless Claims (Initial) 3/29 360K   366K Moderate Fri. April 04 08:30 Non-farm Payrolls Mar -40K   -63K HIGH Fri. April 04 08:30 Unemployment Rate Mar 5.0%   4.8% HIGH Fri. April 04 08:30 Hourly Earnings Mar 0.3%   0.3% HIGH Fri. April 04 08:30 Average Work Week Mar 33.7   33.7 HIGH

The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.

To reach Scott Davis, email him at scott.davis@platinumcapital.com or call him at (310) 303-3488

Just wanted to put the word out about a great house that is new on the market: 1800 S. PCH #35, Redondo Beach.  If you haven’t checked out the cool 1800 PCH Community, you are missing out!  Check out the house at www.1800pch35.com, and get a glimpse of the neighborhood at www.1800pch.com. 

 Let me know if you have any friends, family, or co-workers who are looking for a new house- this may be their new home!!!!!

TAX REBATES: SHOULD YOU SAVE OR SPEND?The government’s Economic Stimulus Plan has been in the news a lot lately, and the $168 Billion package is intended to jumpstart the economy by distributing tax rebates that should be arriving in your mailbox as early as spring. The question is: what should you do with your rebate check? The info below can help you estimate how much you’ll receive, consider your options, and start planning now so you’re prepared.HOW MUCH MONEY WILL YOU RECEIVE?The amount you receive ultimately depends on how much you make. For instance, individuals with adjusted gross incomes up to $75,000 will receive a rebate check of $600. If you’re married filing jointly and earn up to $150,000, you can expect to receive $1,200. Those who earn at least $3,000 but don’t pay taxes will receive about half as much—$300 for individuals or $600 for married couples filing jointly.If you make more than $75,000 as an individual or $150,000 as a married couple, your rebate check starts to shrink. That doesn’t mean you’re out of luck… most high-income taxpayers will still receive a check. But you can plan on receiving $50 LESS for every $1,000 you earn over those limits.Finally, if you have children, you can expect to receive a $300 credit for each child.SO…WHAT SHOULD YOU DO WITH YOUR REBATE?Do Nothing…At Least for Now — Don’t start mentally spending those dollars just yet. At the minimum, you should hold off until you file your 2007 tax return. That’s because the gross income listed on your 2007 return will actually determine how much you’ll receive. And unless you absolutely need to, try not to spend the money at all until you have it in hand. Too often, we make purchases on the credit card or with money from savings with the intention of paying it back…only to have some other expense come up in the meantime. To avoid falling into this trap, make a commitment to yourself to wait for the check to arrive before you spend it.Don’t Overspend — Regardless of how much you receive, make a budget and stick to it. We all know how easy it is to go to the store with a specific amount in mind, only to walk out over budget. In this case, not only could you end up spending your entire rebate check, but may actually come out negative by spending additional money that could be budgeted for your regular bills.Consider NOT Spending At All —The government is issuing these tax rebates with the hope that Americans will help bolster the economy by spending it. However, “spending” isn’t always the best plan. If you have high-interest credit cards or other loans, use the rebate to help pay down the debt…and get out from underneath those payments sooner! If your debt load isn’t very high, consider saving the rebate check in an interest-bearing account, funding or starting a college savings plan, or even putting the money in a retirement account that will earn you more and more money as time goes on.The Economic Stimulus Plan features a number of benefits you may not be aware of. In addition to rebate checks, it includes new conforming loan limits that may allow you to refinance and save money every month, or purchase a home more affordably. If you have any questions about your overall financial picture and how you can make the most of this opportunity, please call today. Remember… a little planning goes a long way!

Courtesy of Scott Davis, Platinum Capital 310-303-3488

Woohoo!!!!  It’s official- FHA loans are back in California!!!  Well, they never really left, we just out-priced ourselves out of their range! The new FHA loan limit (note: LOAN limit, not purchase price limit) is…drumroll please…$729,750!  FHA loans are government backed, and usually have great rates.  Congress has made this a temporary change- til the end of 2008- but the Govenator is pressing Congress to make this a permanant change. 

 This is great news for us in the South Bay- more people will qualify for the FHA loans, therefore allowing more Buyers to get into homes that may have been out of their league previously.  If you have been on the fence about buying a house, it’s time to reevaluate!!!  Give me a call and we can go over the pros and cons!  Talk to you soon! - Vicki

For more info, check out this article: http://www.msnbc.msn.com/id/23489647/

Well, at least it looks like rates will continue to drop! Unfortunately, just because the feds drop the rates doesn’t mean that the banks and lenders drop their loan rates. (That whole other story we will get into later!) Of course the “mortgage crisis” isn’t over.  There are a ton of people who’s adjustable rate loans they got a few years back haven’t adjusted yet.  I’m sure we see more people seeing their situation change over the next few months, and that will translate to more media hype, and a continuation of the Real Estate market not seeing the gains we’ve seen in the past years, if we see any gains at all. The next fed meeting is March 18, so we will see if Bernanke cuts rates again.  Either way, rates are still low (holy moly- does anyone else remember the 80’s???) so it’s still a good time to be investing in Real Estate. 

(By the way, if you, or anyone you know, is in a bind and is thinking foreclosure is the only way out should call me.  At least know what foreclosure entails, what it relieves you of and what it doesn’t.  It’s not just as easy as walking away from the house!)

 Here is the article I am referencing: http://www.msnbc.msn.com/id/23463527/ Read the rest of this entry »

I have!  When I walk, I have a tendancy to go up and down streets, picking and choosing which ones I feel like going down, while sometime Mattie makes the choice for me and pulls me whereever she wants to go!  Anyway, I found this awesome website that lets you map your walk/run/bike route and gives you the mileage.  Not only that, it lets you save your route, make new ones, and even search for other people’s routes! Check out http://www.mapmyfitness.com/  Below is a map of a walk Mattie and I used to take through the Hollywood Riviera as an example of how cool this is!

 

  You can put your weight in, how much effort you exerted, etc and it will even calculate the calories you burned! LOVE IT! Let me know what you think about it!

Holy moly!  The California Lottery (the mega-millions game) is up to $270 million dollars!!!  That is CRAZY!  Your chances of winning are about 1 in 175,711,536…sounds like a long shot (ya think? ;P) but the Las-Vegas-Slots-A-Holic in me is thinking I just may be taking a little drive down to my 7-11 to grab a few tickets.  You need 5 numbers and a mega number…I’ll have to figure out some lucky numbers quickly!  You only have until 7:45 tonight to buy tickets, and the drawing is at 8.  Good luck to you…and if no one wins, the money just goes up for the next draw!  Read the rest of this entry »

The secret is out of the bag…I’m going to admit here, although it won’t be the first time I’ve said it.  And for some of you, it won’t be the first time you’ve heard it: “I love Tommy Lasorda!” 

There, I’ve said it, and yes, Tony knows.   For years we have been part of a group of season ticket holders that gave us access to about 15-20 games a year.  This year, that group dissolved, leaving us to have to actually plan ahead to go to Dodger games.  (Yes, I will admit we were spoiled- we even got the VIP parking lot sometimes!) 

So I was poking around the Dodger site and look what I found: Tommy has a blog!!! http://tommy.mlblogs.com/  I love listening to his stories, and when I read his blog I can practically hear his voice telling the story!

I think Dodger games are the most fun with family and friends (ok, and Dodger Dogs!), so I’m inviting you to check out the schedule http://losangeles.dodgers.mlb.com/schedule/index.jsp?c_id=la and let me know what games look good.  I personally love the fireworks nights- give me a call and let’s go!

I just read in the Daily Breeze that the end may be near for Papadakis Taverna in San Pedro- what?!?!?  Tony and I love that restaurant!  The food is amazing, and the atmosphere is so fun, warm, and inviting.  You feel like you are at a huge family party there!  We have so many fun memories there…Tony and I will be making a point to go there in the next few weeks.  Want to join us?  At Papadakis, more really is merrier! Call me and let’s set a date. (oh ya- if you don’t have it, 310-544-7545)  - Vicki 

link to article in Daily Breeze: http://www.dailybreeze.com/ci_8291894

Another Attempt to Ameliorate the Housing Situation Proposed

 It took a while to saddle up the horses, but now it seems as though everyone is riding to the rescue.

Senate Democrats Thursday announced The Foreclosure Prevention Act of 2008 which is intended to address the national housing crisis, help homeowners avoid foreclosure and assist communities that have already been harmed by foreclosures to recover.

Senate Majority Leader Harry Reid (D-NV) in announcing the package stated that “Since last year Senate Democrats have been moving quickly to ensure more Americans will be able to stay in their homes and we have made some progress. But in the face of an uncertain economy and with so many Americans struggling, we know that more needs to be done to address the housing crisis.” He estimated that the provisions planned for the legislation will help over 1 million people stay in their homes and help families and communities avoid problems in the future.

The proposed legislation will increase available funds for pre-foreclosure counseling by $200 million. This, according to Reid’s website, should assist as many as one-half million additional families to connect with appropriate mortgage representatives and explore available options to keep them in their homes.

A second, potentially far-reaching provision would change the bankruptcy code to remove the prohibition on modifying the mortgages of debtors in bankruptcy. While the existing code allows judges to modify mortgages on vacation homes and family farms, they can not do this with a primary residence. Modifications would be done only for those who meet strict income and expense criteria but these changes, if enacted, might assist more than 600,000 families to keep their homes.

The current cap on Housing Finance Agencies (local entities) bonds would be raised by $10 billion. Proceeds from these mortgage revenue bonds can be used to refinance subprime loans, assist first-time home buyers with mortgages, and provide funding for multifamily rental housing. It is hoped that raising this cap will create new jobs, generate federal, state, and local revenues and stimulate home-related consumer spending.

Communities with the highest foreclosure rates will be able to access Community Development Block Grant funds to purchase homes that have been foreclosed and remain unsold, blighting neighborhoods and lowering property values. Funds will also be available to assist communities in rehabbing these homes if required and then to rent or re-sell them.

The proposed legislation also attempts to avoid similar foreclosure problems in the future by changing loan disclosures and timing on mortgage documents.

The changes would amend the Truth-in-Lending Act and improve the disclosures about loans that are given to homebuyers both when they apply for a purchase money mortgage and when they refinance. Firms would be required to disclose the terms of the mortgage loan within three days of application and at least 7 days before closing. The borrower would also be informed of the maximum payment the loan could ever require (also within the 3 and 7 day requirements) and would increase the damages for violating the Truth-in-Lending disclosure provisions from $2,000 to $5,000 per violation.

Senator Reid did not indicate how long he thought it would be before this legislation, provided it is passed by both Houses and signed by the President, takes effect or from where the funding would come.

link to original article: http://www.mortgagenewsdaily.com/2152008_Foreclosure_Prevention_Act.asp

February’s edition of Chenko’s Tidbits should have arrived at your house by now!  If you haven’t recieved it yet, let me know and I’ll send another one out. 

Don’t forget to give the quiz question AT LEAST a guess- we already have 2 people in the running for the Nordstrom/Home Depot gift certificate!!!!

If you have never recieved one of our newsletters, you are missing out!  (Well, at least in my humble, biased opinion! hahaha!)  Drop me a line Vicki@LiveAtTheBeach.com or call me at 310-544-7545 and we will be sure to get you on the mailing list.

Hope all is well with you.  I’d love to hear what’s new with your family, your job, your vacations: life!  Make it a great day!   - Vicki

Just wanted to take a minute this morning to say “Happy V-Day” to everyone!  I just got back from Atlanta last night (had an awesome time at http://familyreunion.kw.com- ask me about it!) so Tony and I (and Mat & Snick!) will be having a relaxing evening at home tonight.  There are 4 people out there I want to send all my love and hugs and kisses to:

   

My grandkids in Alaska!!!  Miss you guys!  xoxoxox- Nanny

It seems like they just raised the cost of a first class stamp…and now they are doing it again!  If you haven’t already, go stock up on the “Forever Stamps” which cost 41 cents, but will be considered first class postage even after the price increase!  Read the rest of this entry »

The February edition of the 1800 PCH newsletter is coming out via email this Wednesday- be sure to sign up for it by Tuesday night by emailing Jen at Jennifer@LiveAtTheBeach.com or signing up at http://www.1800pch.com. 

 I just read this in the Daily Breeze and think it sounds like a great idea!  There is a link at the bottom of the article if you want to add your name to the petition to bring this great ranch back! - Vicki

Read the rest of this entry »

Hi Everyone!  Since I’m new to the “blogging” stuff, let me know what you would like to see on here!  What do you want to know about?  I’ll be posting Real Estate news that actually has an impact on us, some far out Real Estate news (who isn’t curious about crazy $50 million homes for sale??) and local news, events, and happenings around the South Bay.  What else do you want to see on here?  I love feedback, so “comment” away! (That’s what they call it, right?!?!) 

Welcome to Vicki Goorchenko’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in the South Bay.