Fed Leaves Key Rate Unchanged

Well in keeping you updated about interest rates it looks as though the feds will keep key rates low. This rate is essentially what banks charge each other to do business. And based on this rate, banks determine what they will charge you the consumer for credit. So what does this mean POPULACE? It means that interest rates should stay relatively low which is a good thing for you. Things change quickly in this volatile market though so take advantage while the iron is hot.

Remember: BE IN THE KNOW!

Carl O
http://www.federalreserve.gov/newsevents/press/monetary/20100428a.htm

Follow Me ON Twitter: www.twitter.com/bksfdrealestate

Zip 93312 Sales Data

In my ever increasing wish to make you Real Estate aficionados (Spanish for expert), here is a snapshot of the 93312 zip code for you POPULACE! Whether you are a buyer or seller in this zip code there are some intriguing numbers. While sales prices have fallen from the same period last year our inventory of homes has declined during this same span. What does this mean for you? As a seller it may be that you need to rethink your price in order for your home to sell. And, as a buyer with fewer homes on the market you don't have much to choose from so you might want to take advantage of a home that suits you as there are probably going to be more than one buyer for each home. Competition all the way around.

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/30626970/93312-Snapshot

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Whats The Return

People are always asking me how much return would they receive if they remodeled their kitchen, bedroom, or bath. I always tell them it depends on what the market is dictating at this particular time. It will vary by location as all areas compare differently. I found this article interesting as it lists items that you might not ordinarily consider doing but have a very nice return on investment. There are other factors involved like do the homes in the neighborhood you live in all have granite counter tops or wood shake roofs versus tile. As a Realtor I can do a sales comparison on someones home to give an approximate value and come pretty close but an appraiser is the real expert who can give you the value of your home based on your homes feature versus others in your area. Always consult an expert POPULACE!

Remember: BE IN THE KNOW!

Carl O
http://online.wsj.com/article/SB10001424052748704896104575139771751124074.html?mod=WSJ_HomeAndGarden_LEFTTopNews

NODs Whats It Mean

To follow up my post on foreclosures this post is related to notice of defaults. This is the first step in the foreclosure process when a homeowner receives a letter from their lender letting them know that they are behind 3 months or more and in danger of foreclosure. This is sometimes called pre foreclosure. There are some interesting statistics and trends that you need to know POPULACE! Kern county falls into the median home price range of below 500K. One thing that stood out to me was the length of time it takes the lending institutions to actually foreclose or at least file the NOD. What this says to me is that should you be in this situation (behind on your mortgage payments) you may still have time to contact you lender and work something out.

Remember: BE IN THE KNOW!

Carl O
http://www.nuwireinvestor.com/articles/california-real-estate-notice-of-defaults-declining-55092.aspx

Interest Rates for April 22

Rates seem to be holding steady. If you have been keeping up with my blog you know I have been saying that the rumors are that rates will increase. When and if this happens we can only guess. But, there are indicators that investors will want to increase their yields on their investments soon which will increase interest rates. So I say take advantage before the trend changes. My hope is that our rates remain low. Rates under 5%! Do you believe this POPULACE! If you are ready to take the leap into home ownership now might not be a bad time.

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/30377902/Todays-Rates-4-22-10

Follow Me On Twitter: www.twitter.com/bksfdrealestate

California Foreclosure News

Thought this was an interesting snapshot from inman News of what's going on with the California foreclosure scene. Some really good trends and percentages to ponder. Are we on the decline? Are we in a lull? Our trends have been somewhat different but if this is an indicator of things to come then maybe there's some light at the end of the tunnel for homeowners and our overall market. What do you say POPULACE!

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/30320601/California-Foreclosure-News

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Home Tip: Let it Drip

Drip systems are the talk today. I like to send you ideas for your home that are worthwhile and relatively inexpensive. Thought this one had both. Our homes water pressure was an interesting fact that I didn't know about, but now I do. Also that water can create fungal disease on your plants. Hmmm, didn't know that one either. Never too old to learn something new. Some of you might think that this is a strange topic because of today's rain but it will end sometime and I want you to be armed and ready when it does.

Remember: BE IN THE KNOW!

Carl O
http://enews.assetmac.com/members/32006/ftp/Pictures/TipofTheMonth359.jpg

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Military Tax Credit

Our men and women in uniform deserve our utmost respect and thanks. We must never forget their sacrifices to this wonderful country of ours. Because of them I can blog, blog, and blog some more! With that in mind I wanted to remind all of our military heroes that the tax credit set to expire at the end of this month is extended to them for an extra year. There are some restrictions but for the most part our military personnel can take advantage of this tax credit for one more year. Please let these dedicated men and women know that this benefit exists for them. Let them hear you POPULACE! I know everyone knows someone who serves, but even if you don't, let people know in case they do. Service Men and Women, THANK YOU!

Remember: BE IN THE KNOW!

Carl O

http://www.scribd.com/doc/30214081/Military-Tax-Credit

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Job Loss Money for Homeowners

Not sure how many of you are aware of this but there are monies for those first time homeowners who have lost their jobs to help them pay their mortgages. There are some restrictions but for those of you who qualify it can mean the difference between staying in your home, having to modify the loan, or potentially lose it. Times are tough everywhere so you should take advantage of every opportunity available to you should this be your scenario. Just want you all to be knowledgeable and prepared. I hope this is not your circumstance but if so take the time to read and investigate or if not at least let others know just in case they are in this situation by sharing this information.

Remeber: BE IN THE KNOW

Carl O
http://www.bakersfieldrealtor.org/index.cfm?fuseaction=news.news_detail&news_id=18
Follow Me On Twitter: www.twitter.com/bksfdrealestate

No More Free Credit Reports?

Whats this? Charging for free credit reports? I guess that would not make them free anymore would it? This was a great article I thought you would all enjoy and pass on as so many people are online these days accessing their reports on sites advertising them for free . There have been some new laws that affect the way advertisers showcase their products namely free credit reports. I thought it was interesting that freecreditreport.com is changing their name slightly due to this new regulation. Be wise BAKERSFIELD REAL ESTATE POPULACE! I hope this article takes you one step closer to becoming the aficionados (Spanish for expert) I hope you become.

Remember: BE IN THE KNOW

Carl O
http://www.scribd.com/doc/30048408/Free-Credit-Reports-1

Follow Me On Twitter: www.twitter.com/bksfdrealestate

CA Tax Credits Expiring!

Boy that was fast! We just got the news on that this month! I guess $200 million doesn't go as far as it used to. Wow I did not see that one coming. This is why it is good to BE IN THE KNOW. It sounds as though the state didn't account for the properties already in escrow. Some monies remain for new homes but I'm sure it will go fast as too. Well for those of you who will receive the credit I say "Congratulations"!

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/30004298/California-Homebuyer-Tax-Credits

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Benefits of Home Ownership

Some food for thought for those thinking about buying a home. While there are many factors that go into deciding whether to jump into the home ownership market, this article may or may not help give you that nudge. You should really think about your preparedness when deciding because as I tell my clients that I work with you are not buying a car stereo or home theater system. You're buying a HOME! Its a BIG DECISION! Most likely the biggest purchase one will ever make in their lifetime. While I do believe that home ownership is the American Dream and should always be pursued, you need to be absolutely sure you are ready. As I said earlier just some food for thought.

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/29952114/Benefits-of-Home-Ownership

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Tax Debt Forgiven

This post is a follow up to an earlier post about the state forgiving tax debt for those who did a short sale in lieu of foreclosure, had a home foreclosed, or those who modified their existing mortgage. The state of California was issuing tax notices to those folks in the aforementioned category because of the difference between the current mortgage balance and the loss. The Governor was preparing to sign a bill forgiving this debt and yesterday it became official law. So what this means to you is that this debt will be forgiven. But, I would still consult a tax professional to make sure that there are no hidden loopholes as the language can be confusing and there are restrictions. Also, if you signed a promissory note to the bank stating that you agreed to pay those monies back you definitely want to consult a professional. Take care.

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/29874005/No-More-State-Tax-on-Forgiven-Debt

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Interest Rates for April 12

Well here are the rates for today. I want to thank Robin Rossi of Summit Financial for the rate sheet. Interesting that rates came down for FHA financing but rose for Conventional. If you have been keeping up with my blogs then you know that the rates have fluctuated slightly both up and down. Now as I said in an earlier blog, the rumor around the feds is that we will see rates climb. If it is supposed to happen then it hasn't happened yet. I am hoping that this is not the case due to the feds wanting to keep the real estate market stimulated. Of course, these rates are at historic lows! When I bought my first house in 1989 the best rate was at 10%. Boy was I happy when I refinanced to 7% a couple of years later. But I digress, great rates with reasonable home prices is a great mixture for buyers. If you haven't thought about jumping in the housing market then I say now is the time. We still have federal tax credits until the end of the month and state tax credits for the remainder of the year. Always the optimist I think it is a great time for Bakersfield Real Estate.

Remember: BE IN THE KNOW!

Carl O
http://www.scribd.com/doc/29819961/Todays-Rates-4-12-10

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Bakersfield Real Estate Stats for February

How are we doing here in Bakersfield? Well here are the sold statistics for February. The March stats are not out yet but you know I will post them when they come out. In my ever desire to make you real estate knowledgeable I wanted to share this with you. I wasn't surprised at the total sales numbers for the $120,000 to $139,999 price range but at the $200,000 to $249,999 that ran second. This to me was a pretty wide gap from number one to number two. What does it mean? It means we had some great deals on homes in this price range with 4 bedrooms. Now this is a monthly statistic for February so each month will be different but by the end of the year you all should have a great feel of what's going on. Anyone's fence fall down? Where did the wind come from? Hope you are all safe and didn't suffer too much damage due to the wind.

Remember: BE IN THE KNOW!

CU Later,

Carl O
http://www.scribd.com/doc/29759154/Bakersfield-Market-Stats-for-February

Follow Me On Twitter: www.twitter.com/bksfdrealestate

Seller Action Plan 5

No I didn't forget about you sellers. If you have been following me on twitter (www.twitter.com/bksfdrealestate)or on my blog (www.bakersfieldre.blogspot.com) you know I am on step 5 of seller tips. I am sorry that it is a little late in coming but I felt that there was some very important information that would be useful to you and I wanted to make sure to post it. After all, I want you to be Real Estate aficionados (Spanish for expert) remember? Those of you who would like to view the first four steps can go to the blogs archive and view them. Step 5 is all about the selling of your home and the mindset you might need to take when an offer is presented and also a few things you should consider and keep in mind along the way. The bottom line is be realistic and open minded. I find that this leads to a much better and smoother transaction.

Remember: BE IN THE KNOW!

CU Later,

Carl O
http://www.scribd.com/doc/29715987/Seller-Plan-and-Prepare-Step-5

Whats Happening With California's Home Prices

Hi All,
Wondering what's going on with home prices in California. Well here is a snapshot of the market. Interesting that the lower end of the pricing scale is the most active and guess where Bakersfield is? You guessed it! Right at the lower end. I thought the graph was interesting in that 72% of our sales came from this price range (under 500K) which is actually up from a year ago. I know there are those that say we are one of the worst markets in the country but from my perspective based on what this report says and how my business is there is much opportunity for new buyers as well as those that have equity and want to trade up. I am always the optimist but also realistic and I know that there are a lot of homeowners who are upside down. But I also know that there are a lot who are not. I believe we will see prices fluctuate up and down a little and for the opportunities to remain. Just one mans opinion. I will let you read the article and judge for yourselves. Remember: BE IN THE KNOW!

CU Later,

Carl O
http://www.scribd.com/doc/29691523/California-Real-Estate-Market-Snapshot-Prices

California Real Estate Market Double Dip?

Hi All,

This article pertains to the overall California Real Estate market but I thought it was good because there are trends happening that I think you should be aware of. And, those trends will affect our market. I always try to be realistic in my approach to what I post and this is no exception. My hope is that it will make you better informed Real Estate aficionados (Spanish for expert) who will be able to make smart decisions when you decide it is time to make them. We hear a lot about a double dip in the market meaning another major depreciation of property values and this article gives a very good idea of what is happening. I will blog specifically on our Bakersfield market soon. You should always know about the good and bad. If you have concerns about where you stand let me know and I"ll try and help. Remember: BE IN THE KNOW!

CU later,

Carl O

http://www.scribd.com/doc/29618183/California-Real-Estate-Market-Snapshot

Short Sale Tax Debt Forgiveness

Hi All,

There has been a lot of buzz about those folks who did a short sale in lieu of foreclosure being hit with additional taxes because of the forgiven mortgage debt. The state governments have been hitting these homeowners for the additional monies when they file their returns. Well this article might clear things up for some of you who may have been reluctant to sell your home as a short sale because of this or those of you who have already sold your home and are being hit with this tax.It appears as though the state will be forgiving this tax debt which I am sure will have some of you breathing easier. Now this article pertains to California so I would check your states web site where you live to see if they are doing the same. And as always you should consult a tax professional to give you the best information and advice on how to approach this. I hope this article is helpful to you. Take care and enjoy the rest of this beautiful day. Supposed to be 80+ degrees tomorrow! Wow! Poolside anyone? Remember: BE IN THE KNOW!

CU Later,

Carl O

California expected to cancel tax on forgiven mortgage debts - Sacramento Business, Housing Market News | Sacramento Bee

Posted using ShareThis

Home Improvement Tip for your Porch

Hi All,

What a beautiful sunny day today here in Bakersfield. Can't seem to figure out the weather but I'll take it! Well I wanted to share a really good article on sprucing up your entry way. Or as some call it Porch! With the tough economic times we are having I really liked this article because you can really add a lot of flair to your entry all for around 100 dollars using some very simple tips. I try to share items with you that are not only relevant but realistic as well so I hope you enjoy this article and the others I have posted and future posts too. Have a great day and I will blog you soon. Post a comment or shoot me an email to let me know what you think. Remember: BE IN THE KNOW!

CU Later,

Carl O

http://www.scribd.com/doc/29513828/Home-Improvement-Tip-Porch

Todays Interest Rates for April 5, 2010

Hi All,

Hope everyone had a perfect Easter Sunday. Our family had a wonderful day. After church we spent the day with family. We usually have a big get together with a lot of family members and friends but this year we kept it to immediate family and it was a great day. I really had the chance to spend time with my brothers and sister, getting caught up on what everyone was up to. Sometimes when you have big parties it is hard because you are so busy entertaining your guests. I'm sure you know what I mean. I do like to the big parties but this year was very special. Anyway, enough jabbering! Here are today's interest rates. They crept up a bit but this is not unusual as rates will fluctuate up and down at times. Rumor has it that we may start to see rates climb on a consistent basis due to the federal government no longer buying loans. Stay tuned. I will give a shout out when I hear more. Thanks for stopping by and I will blog again soon. Remember: BE IN THE KNOW!

CU Later

Carl O

http://www.scribd.com/doc/29468496/Todays-Rates-4-5-10

Understanding Your Credit

Hi All,

I really liked this article about ones credit. It is informative and will give you some things to watch out for. It does not go into identity theft and how it affects your credit but it gives you some insight as to what creditors look for. Watch your credit! If you want to buy a home you can bet that the lenders surely will. I had a great Saturday and plan to do the same tomorrow. After church my family and I will be spending the day at my mom and dad's house with my brothers, sister, nieces and nephews. Doing the Easter Egg hunt thing and a little barbecue to boot. But first and foremost I will remember what the significance of the day really is. Not bunnies and eggs but our lord and saviors wonderful sacrifice for me and you. I hope you won't forget either. Have a great Easter and I will blog you soon.

CU Later,

Carl O

http://www.scribd.com/doc/29381714/Understand-Your-Credit

Seller Action Plan 4

Hi All,

Some additional tips for those thinking of selling their home. Boy am I off on days. I keep thinking today is Saturday! Anyone else having trouble with this? Anyway, I hope your weekend is great and productive. I know mine will be. I have been truly blessed to be this busy as you can tell due to my blogs running later in the evening. Have a great weekend BAKERSFIELD REAL ESTATE POPULACE and as always thanks for stopping by.

CU Later,

Carl O

http://www.scribd.com/doc/29352465/Seller-Plan-and-Prepare-Step-4

Zip Code 93311 Sales Data

Hi All,

As promised here are sales information for zip code 93311. The zip itself is fairly large so the price of your home will vary depending on location, square footage and other factors but this chart will give you a good idea as to what the zip code is doing. As you will see the numbers are very positive. I will be posting additional zip codes in future blogs. Hope you all have a great weekend and a wonderful Easter.

CU Later,

Carl O

http://www.scribd.com/doc/29312705/93311-Sales-Data