(NAPSI)--Today’s housing market, with sometimes sloppy foreclosure procedures and corner-cutting sellers, makes owner’s title insurance more important than ever, and a growing number of home-buyers are warding off potential real estate problems with this proactive type of insurance.

Owner’s title insurance can offer homeowners protection against many legal hazards (incorrect notary acknowledgements, previously undisclosed heirs to the property and even counterfeit land deeds) that can emerge, usually after the completion of a real estate purchase.

Most lenders require home-buyers to purchase lender’s title insurance when they obtain a loan, but this only protects the lender’s investment when problems occur. Owner’s title insurance provides coverage to homebuyers for as long as they or their heirs own the property. For a one-time fee, it gives the insured the best possible chance for avoiding title claim and loss.

After your sales contract has been accepted, a title professional will search the public records to look for any problems with the home’s title. This search typically involves a review of land records and title problems that are fixed before you go to closing. Owner’s title insurance comes into play after settlement when previously undisclosed problems arise.

For more information on owner’s title insurance, talk to a local title company or go to www.homeclosing101.org. You can also visit www.alta.org for more details.

A Short Talk On Titles

Posted: 9/21/2011

With today’s housing market including many foreclosure properties, owner’s title insurance is more important than ever.

(NAPSI)—Most lenders require homebuyers to purchase lender’s title insurance when they obtain a home loan, but lender’s title insurance only protects the lender’s investment in the property. It is an owner’s title insurance policy that provides coverage to the homebuyer.

For a one-time fee, an owner’s policy can cover losses arising from defects in the title existing at the time that the policy is issued, including costs associated with conflicts that emerge when different wills exist or when one heir contests the rights of another heir to sell a home. An owner’s policy, which remains in effect for as long as the owner or their heirs retain an interest in the property, can also cover certain future events, such as building permit or subdivision law violations of previous owners; neighbors building encroaching structures; post-policy forgery or impersonation; and lack of physical access for vehicles and pedestrians to and from the home.

With today’s housing market including many foreclosure properties, owner’s title insurance is more important than ever.

To learn more about owner’s title insurance and how to protect yourself when you purchase property, go to www.homeclosing101.org. You can also visit www.alta.org for more information.

California Bar Suspends Attorney for Illegal Foreclosure Evictions of Tenants Statewide; Tenant Organization Calls for Stiffer Sanctions

Posted: 9/20/2011

Two years after Tenants Together demanded that attorney David Endres stop illegally evicting tenants, the State Bar of California has suspended Endres from practice. Endres has been notorious for pursuing eviction actions on behalf of major banks after foreclosure in violation of federal, state and local law. The Bar suspended Endres from practice for six months and ordered Endres to pay the costs of the proceeding in the amount of $4,000.

Dean Preston, Executive Director of Tenants Together, California’s statewide organization for renters’ rights, welcomed the news of disciplinary action, but called for stronger sanctions: “We are pleased to see the Bar taking action to police unethical eviction lawyers, but this 6-month suspension is not nearly enough. David Endres should be disbarred, if not put in jail. His fraudulent robo-signing eviction mill caused the mass eviction of thousands of tenants and undermined the integrity of the judicial system. He should never be permitted to practice law in this state again.”

Joelle Peebles, a Tenants Together member, was illegally evicted by Endres in 2009. Peebles lived in McKinleyville, CA when her landlord stopped paying the mortgage. The home was foreclosed in June 2009 and she received an eviction notice from Endres. She promptly notified Endres’ office that she was a tenant entitled to at least a 90-day notice before eviction. Nonetheless, Endres filed an illegal eviction action against her, forcing her from her home prematurely. Peebles filed a complaint with the State Bar, one which likely led to the recently announced disciplinary action.

According to Peebles, “Endres’ illegal eviction turned my life upside down for no good reason and caused enormous stress for me and my husband. I’m glad to hear he is finally being disciplined, but it’s too little too late. I’d like to see him lose his law license and be forced to compensate all the tenants whose homes he seized improperly.”

Endres has handled thousands of eviction cases on behalf of major financial institutions including U.S. Bank, HSBC, and Aurora Loan Services. The August 23, 2011 suspension order from the State Bar notes that he filed over 1,000 cases between July 1, 2009 and December 31, 2009 alone. To accomplish these mass filings, Endres had non-attorney staff prepare verified pleadings and sign on his behalf. Endres knowingly submitted false verifications to the court. The Bar concluded that “respondent aided the unauthorized practice of law, in willful violation of Rules of Professional Conduct, Rule 1-300(A)” and “sought to mislead judicial officers, in willful violation of Business and Professions Code section 6068(d).”

Tenants Together has long identified Endres as one of the worst violators of tenants’ rights after foreclosure. In an August 2009 letter to Endres, Tenants Together wrote: “We believe that your conduct, particularly your refusal to promptly dismiss these cases once learning that tenants are at the property, violates your ethical obligations as an attorney in California. Please remember that tenants are innocent victims of these foreclosures. The least you and your bank clients could do is comply with the basic protections they are provided under federal, state and local law.” Endres never responded.

Tenants Together, California's Statewide Organization for Renters' Rights www.tenantstogether.org

Showhomes Home Staging Celebrates a Quarter of a Century Staging Homes Cutting-edge home staging pioneer marks 25th anniversary

Posted: 7/26/2011

Sacramento, CA - When Showhomes Home Staging launched in 1986, few people understood what home staging was, much less the critical role it played in selling a house faster and for a higher price, according to Bob Kohlruss, franchise owner for Showhomes Folsom Lake.

The Nashville-based franchisor changed all that with its dynamic ‘home staging with a twist’ concept that combines live-in Home Managers with impeccable home staging standards.

Now in its 25th year, Showhomes Home Staging is the only national franchise that provides the services of live-in Home Managers and one of the largest and most successful home staging providers in the country.

The success isn’t just impressive; it’s stunning. The small company that started in Edmond, OK, has more than tripled the number of franchisees since 2007 and now has operations in 75 markets and 24 states.

The Great Recession of 2007-2010 didn’t hinder Showhome’s rise to the top, according to Kohlruss. Revenue growth has registered in the double digits for the past six years. The franchisor has also emerged as an industry leader in helping banks stage and sell vacant foreclosed homes for top dollar.

“When we started out, people looked at us in strange ways,” said Kohlruss. “The idea that a home would sell faster or for a higher price when staged was new to the real estate industry. Today, with so many vacant houses in the Sacramento area on the market for sale, demand for what we do is higher than ever.”

2011 is proving to be another breakthrough year. Showhomes Home Staging cracked the Entrepreneur Magazine's popular list of the top 500 franchise companies for the first time and was ranked in the top 50 low-investment franchises in the country and among the top 100 home-based businesses. Street Trends listed Showhomes as a hot trend and one of franchising’s best bets. The Travel Channel called Showhomes a best kept secret in the real estate industry.

“We’re happy to have done so well and equally pleased that we’ve remained on the cutting edge of the home staging industry.” said Matt Kelton, Showhomes COO. “Real estate is a volatile industry and we’ve built our success on helping homeowners sell vacant houses in every type of market condition. We expect the next twenty-five years to be even better.”

For more information about Showhomes Folsom Lake, please contact Bob Kohlruss at 916-204-2378. For information on a Showhomes Home Staging franchise, visit www.showhomesfranchise.com.

About Showhomes

Since its founding in 1986, Showhomes has helped U.S. Realtors and homeowners sell more than 26,000 homes valued at more than $8.5 billion by using live-in Home Managers. The Showhomes business model is based on the fact that well-furnished homes kept in show-to-sell condition sell faster, and for higher prices, than vacant houses. For information and franchise opportunities, please visit www.showhomes.com.

Five Tips to Get Your Real Estate Agent Back On the Job

Posted: 6/28/2011

In the current real estate market, with home sales slumping like an injured athlete, many sellers are pulling out all the stops to get their homes to sell. One of the most common tactics is to change realtors when the one they’re using isn’t getting the job done. However, one expert believes that there is another way.

“Switching realtors every few months is not necessarily a strategy for success,” said Pat Hiban, a billion-dollar selling real estate agent and author of 6 Steps to 7 Figures (www.pathiban.com), a self-help guide for realty agents. “In this market, it’s not uncommon for a home to stay on the market for many months. The problem with switching agents frequently is that you eat up a lot of time with the learning curve with each agency change. Every time you fire an agent, you lose their institutional memory with regard to your house and your situation. Instead, you can try to reinvigorate their efforts by introducing them to some simple sales tips.”

Hiban’s advice includes:

Be Proactive – Successful people are productive every morning. In sales, that means you need to be making prospecting calls, doing open houses, calling contacts, writing notes to people, making new contacts, and getting in people’s faces. If your agent is waiting around for the phone to ring, ask them if they are working every avenue they can, and suggest they beat the bushes.

Plan The Week – Ask them what their agenda is for the week, and make sure they are doing something every day to promote your property. Some realtors tend not to pay attention to properties that aren’t generating a lot of excitement, and instead they focus on the properties that might be easier to move. Keep them focused with an agenda every week, and you’ll increase the chances they’ll be successful for you.

Get Busy – Activity breeds activity. It’s a universal truth that the more you push your flow out to potential buyers, the more inward flow of contacts you’ll generate. One thing really does lead to another, so even when the response is slow, keep them motivated to keep plugging away. You never know when they’ll catch a break, but if they aren’t in the game and getting out in the community, they’ll never have a chance to find one.

Accept All Invitations – Networking can many times win the day, and real estate agents typically receive every invitation available to local networking and community events. When they attend these functions, everyone in the room could be a potential client for them or a potential buyer for you. Ask them if they attend local events, and when you know some are coming up, email them the information.<.

Don’t Panic – Panic and negativity on your part makes your agent feel the same way. Don’t vex them. Help them stay focused and positive. If you keep going, they’ll keep going.“Sometimes, the solution is to make a change in agents,” Hiban added. “But if you find yourself in a cycle of change, with no results, then maybe you can use these tips to get a little more out of the agent you’ve chosen.”

About Pat Hiban

Pat Hiban is one of only a few residential Realtors in the entire world to have the title of Billion Dollar Agent, having sold one billion dollars in homes, one house at a time. Much of Hiban’s specialty is in the foreclosure market with current clients that include Freddie Mac, Wells Fargo and Bank of America.

Mortgage Closing Costs: What You Need to Know

Posted: 6/21/2011

Closing on a home often involves signing on the dotted line on a tall stack of paperwork, much of which is confusing and difficult to understand. It's no wonder that many people are surprised by some of the charges that make up mortgage closing costs. In fact, the average origination and third-party fees on a $200,000 mortgage come to nearly $4,000, according to a Bankrate survey.

With that in mind, the Califronia Society of CPAs (www.calcpa.org) recommends taking these steps to ensure that you understand closing costs and are in a position to minimize them wherever possible.

Do Your Homework

Before you even get to the closing, take the time to shop around for a loan so that you are aware of what's available and who has the lowest rates and fees. While cutting closing fees is a great idea, keeping a lid on your total loan costs can save you thousands of dollars over time, so be sure to compare offers.

Although you're not an actual customer yet, many banks will be willing to offer an estimate of closing costs at this point, so be sure to ask for one to get an initial idea of what your overall loan costs will be. In addition, if you have any questions about what's included, it's great to get your answers in advance so you understand the process once it's under way.

Get Your GFE

Lenders are required to provide borrowers with a good faith estimate (GFE) of potential settlement costs no more than three days after you apply for a loan. You should be aware that the final charges may legally be as much as 10 percent higher than what is shown in a GFE. If you believe the fees in a GFE are too high, don't be afraid to challenge the lender and make it clear that you might still decide to take your business elsewhere if they are unwilling to negotiate.

The GFE will also set forth the loan amount, term and interest rate, and spell out any penalties or special loan features. Be sure to ask the lender to explain any terms or fees that don't make sense to you.

Get the Final Tally

Remember that the GFE is only an estimate. Before the closing date, ask for a list of final settlement costs and compare them to the original GFE. If there are some notable additions or changes, be sure to question the lender about them.

Look for Duplications

Among the things to review in your GFE are any possible duplications of fees you may have already paid. For example, if you've already written a check for an appraisal early on in the process, don't get charged twice for it. Point out the problem to the mortgage lender or broker and have it removed from the total.

Check Government Resources

The U.S. Department of Housing and Urban Development offers numerous resources for home buyers, including information on borrowers' rights and on the laws governing mortgage settlement procedures.

Figure Out What's Tax Deductible

One last point: While most mortgage closing costs generally are not deductible, the points that you pay on your mortgage may be. Your CPA can work with you to determine which fees you can deduct.

Your CPA Can Help

While mortgage closing costs may seem like a confusing subject, there's no need to panic. Instead, turn to your local CPA for knowledgeable advice on all your family's financial concerns.

Copyright 2011 American Institute of Certified Public Accountants.

The Money Management columns are a joint effort of the AICPA and the California Society of CPAs as part of the profession's nationwide 360 Degrees of Financial Literacy program.

To listen to podcasts with more financial tips, go to http://www.calcpa.org/Content/community/financialempowerment.aspx.

When staging a home for sale, use neutral colors in flooring, upholstery and window dressing to enhance brighter accents.

Staging Your House For A Quick Sale

Posted: 6/15/2010

(NAPSI)-"Home staging" is increasingly popular among homeowners seeking to sell their house. Curb appeal, clutter removal and a thorough cleaning are important, but a few extra steps can dramatically improve the appeal of your home to a buyer.

Design and model home expert Janice Jones, who oversees model home design and decorating for Pulte Homes, offers a few tips to help you create an up-to-date new and fresh look that can set your home apart from the competition:

1. Use Color: Adding the right punch of color to accent walls or trim can create depth, enhance kitchen cabinets or bring a boring bathroom to life.

Jones encourages homeowners to find pops of color in accessories, such as throw pillows, coffee-table books and decorative canisters. The key is to experiment and not be afraid to add extras such as exciting wall art or a playful chair or an area rug. Different colors have different effects, Jones says:

• Red is stimulating and encourages self-confidence.
  
  
• Orange promotes happiness and celebration.
  
  
• Yellow is uplifting and light-hearted.
  
  
• Blue is calming in softer tones, promotes clarity in deeper ones.
  
  
• Green is the color of nature; it feels fresh and rejuvenating.
  
  
• Aqua is restful while pink is gentle and sweet-making a great pair.
  
  
• Purple tones bring out a sense of compassion.

2. Less Can Be More: When Jones decorates model homes, she takes care not to clutter spaces and aims to keep rooms inviting, comfortable and memorable. This requires appropriate-sized furnishings that allow for maximum seating without crowding.

"Use fewer accessories and try not to overstimulate," she advised. "This makes living spaces appear much larger."

3. Focus on the Home: Homeowners achieve better results by displaying only their most important collectible treasures in a bookcase, a see-through furniture cabinet or open shelving. The focus should be on the house, not the current homeowner's knickknacks.

4. Know the Latest Trends: Design trends have been moving toward simple clean lines, an organic approach and a more relaxed look overall. Flat-screen TVs, laptop computers and other technology have changed the need for heavy, deep pieces.

5. Even Small Changes Reap Rewards: Jones stresses that even a small decorating project can make a significant difference.

"Interior design gives home sellers a great opportunity to make a good first impression," she said. "Simple staging can be livable as well as sellable."

For more home-staging tips from Pulte Homes, visit http://bit.ly/StagingTips.

Karla Hawe
Mortgage Consultant

Getting the best Interest Rate on Your Home Loan?

A Qualified Mortgage Consultant Can Help Boost Your Credit Scores

Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower’s income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It’s important to have a mortgage professional in your corner that has a keen eye for solutions to improving credit scores in an effort to get the best interest rate possible.

Interest rates associated with various loan programs are broken down into schedules based on credit score ratings. While each lender has its own guidelines, it’s safe to assume that as the consumer’s credit score goes down, interest rates will go up.

If you have already taken out a mortgage loan with a higher interest rate because your credit score was a little under par, you will really appreciate the value in doing a little work to improve your credit score. Refinancing from a loan you received when your credit scores were low to a loan with high credit scores, can save you literally thousands of dollars in financing fees over time.

A qualified mortgage consultant, such as myself, will guide you through the nuances of the process of improving your credit score to refinance and save money. First and foremost, I would want to review the terms of the existing mortgage loan to determine if you have a pre-payment penalty clause written into your contract.  If you were to sell the home or try to refinance before the pre-payment penalty expires, you would most likely have to pay a 3 percent fee back to the lender to compensate for the high risk and cost incurred to provide that financing.

There are five factors that make up the credit score and I can coach you through some basic strategies to improve your credit score. Once your credit scores have improved, it’s time to refinance at a better interest rate.

It is important to work with a mortgage consultant who can give you a roadmap to follow and a strategy for success in building personal wealth. Please feel free to call me for a free credit consultation. You can contact me, Karla Hawe at 916-923-5900 or karlah@bwcmtg.com.

Ed Wacaster, CMPS

The Mortgage Manager

This is definitely the time to be putting some serious thought to buying real estate. With all of the programs available today to help First Time Home Buyers with Down Payment Assistance, not to mention government loan programs as well, today is the right time to try. But be smart about it and find a true professional before you jump into something.

The key to successful home ownership and the happiness that is supposed to come with it, can only come with a transaction done correctly and efficiently. In order for that to happen you need to have the right people in your corner, watching out for your best interests. Can you imagine how much lower the foreclosure rate would be if people had used the right professional when they decided to use that person for a mortgage? What would the media have to talk about? They would have to go hunting for something different to scare the jeebers out us.

I’m going to repeat myself here:. You need to have a relationship with your Real Estate Agent and your Mortgage Professional much like the one you have with your Doctor and Dentist. I’m not putting us on that type of pedestal, but if you don’t have that relationship established, you are open to being ripped off big time by someone who could destroy your future. There are too many good professionals in the real estate industry to open yourself up to such treatment. If you don’t know a good professional yourself, ask someone you know if they would use the person who helped them buy their home, and with their mortgage again. If not, ask someone else.

Be careful of cleverly worded radio ads and direct mail. Most of the time those companies will do a mortgage for you, and you don’t want to use them again. The really good ones do very little advertising and are worth their weight in gold. When I had my radio program last year, I was shown a loan file from a competing show. The host of that show was going to send his kids to college on one loan. Making money is one thing; greed is just that, greed.

So, get in the game, but be careful. I am not the only out here that cares about my clients. I have many good friends that I would refer to if I weren’t in this business, and they’re just that, really good friends, and really good people.

You can contact Ed Wacaster, CMPS at 916-677-0996 or www.EdWacaster.com

New Law Helps Working Families Facing Home Foreclosure

Press Statement by Art Pulaski, Executive Secretary-Treasurer, California Labor Federation

“Millions of working families are at risk of losing their homes due to reckless and predatory mortgage lending. Now, with the economy in recession and the cost of gas and food at record highs, these homeowners are seeing their monthly payments double and triple overnight.

“Today, Governor Schwarzenegger signed SB 1137 in order to provide some desperately needed protection for families who can no longer afford their home loan. This bill, carried by Senator Don Perata, requires lenders to contact borrowers before they start the foreclosure process. This gives families a chance to try and modify bad loans before they lose their homes.

“Over the past few years, more and more California borrowers have been persuaded to take out loans with exorbitant pre-payment penalties. Predatory lenders have steered them into high-cost loans, even when they actually qualified for lower, fixed-rate loans. Far too many families have ended up in loans they don’t understand and can’t afford.

“No one wins with a home foreclosure; a family loses not only their most valuable asset, but the roof over their children's heads as well. The banks lose money from a short sale, and neighbors watch property values plummet. When a family is trapped in a loan they cannot afford, the best outcome is for everyone is a loan modification. That's exactly what this bill promotes.

“This bill provides immediate protection to those who need it most. We commend Senator Perata for championing this bill and the Governor for signing it. But this is just the first step in banning the abusive lending practices that created this crisis. California's working families, and our struggling state economy, simply cannot allow this sort of foreclosure freefall to happen again.”

Assessed Value Drops On 85,000 Sacramento County Residential Properties

Reflecting the fact that much of the residential real estate market has been in a decline since mid-2006, Sacramento County Assessor Ken Stieger announces that the Assessor’s Office has reviewed the market values of residential properties in Sacramento County and will be reducing the assessed values for over 85,000 properties on the 2008-09 property tax roll. These decreases are often referred to as Proposition 8 reductions, reflecting the 1978 ballot proposition that authorized them.

Generally speaking, properties purchased in 2004 and later are affected. Most decreases will range between 10% and 30%.

The majority of the remaining residential properties in the county, some 300,000-plus parcels, will continue to be assessed under Proposition 13 provisions and will not be receiving notices. If a property was purchased prior to 2004, it is unlikely to receive the Prop 8 decrease in assessed value.

In the next few weeks, the Assessor’s Office will send letters to the owners of these properties, notifying them that the assessed value of their property will be reduced for the 2008-09 property tax roll. The letter will advise affected owners of their new Proposition 8 assessed value and will also include their Proposition 13 factored value for comparison. The Prop 8 assessed value will be reflected on the tax bills issued in October of 2008.

Proposition 8 value reductions are temporary. Once a property receives a Prop 8 reduction, its value must be reviewed as of January 1 each year to determine whether the current fair market value remains less than its Proposition 13 base year value plus inflationary adjustments. The Prop 13 value is typically the property’s acquisition value plus inflation factors for intervening years. The lower of these two values is the value used for property tax purposes.

Since the reduction Proposition 8 value represents the property’s current Fair Market Value, it can fluctuate from year to year without limitation, to reflect changes in the real estate market. When the real estate market recovers and the market value exceeds the Proposition 13 factored base year value, the property’s Proposition 13 value will be restored.

The anticipated decrease in assessed value for the 85,000 properties should approximate $6 billion, and will result in a revenue decrease equal to 1% of that amount, or $60 million. The lower amount of property taxes in the County will impact local schools, cities, and special districts

Assessor Stieger also wishes to alert the public that property owners may receive solicitations from private businesses and individuals offering assistance in this process for a fee. While property owners are certainly at liberty to use these private companies, they can apply for this reduction themselves at absolutely no cost simply by writing a letter or otherwise contacting the Assessor’s Office.

Taxpayers may visit the Assessor’s website: www.assessor.saccounty.net for more information or call the Assessor’s Proposition 8 Customer Service Line at (916) 875-0455.