Governor Schwarzenegger is Wrong About Enforcing our State CAP and Trade law

The global warming alarmists got help several years ago when CA Gov. Schwarzenegger turned up to support the very bad state Climate Action Plan (Assembly Bill 32).

 

California's AB32, the state "Global Warming Solutions Action of 2006"  (silly name) was passed with the support of our Governor during a time when the state budget was already out of whack, and now it's even worse with a $27 billion deficit.

 

This law will be destructive and could eventually be the most expensive global warming law in the USA. 

 

Unemployment in our state is now at about 12 percent, and California government spending has increased along with taxes and the government payroll.

 

But that's minor stuff.  If our Governor enforces provisions of our State "Global Warming Solutions Act of 2006", we will be in even more financial trouble.

 

Any enforcement of this current CAP n Trade law in our state would be wrong, would hurt private business and our economy, would cost the state even more jobs, would hurt the private real estate industry, would result in larger government and smaller private enterprise, and would probably have no impact on the environment.

 

Let's tell our Governor leader that he should back off and not enforce this bad legislation and try and new approach.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

 

See Mark Landsbaum opinion article, Feb. 26, 2010 - Arguing global warming with Arnold - click here.

 

Posted via email from Explore OC Homes

Irvine, CA, Home Sales Continue Leading Upward - Local Market Update

Irvine home sales in units were up year over year in 7 of 8 zip code areas  (for one month, 22 business days ending February 5, 2010).

 

92602 (West Irvine) - up 46%

 

92603 (Turtle Rock, Shady Canyon and Quail Hill) - up 6.7%

 

92604 (Woodbridge) - even

 

92606 - (Walnut and El Camino Real) - down 73%

 

92612 (University Park, Ranch San Joaquin) - up 14.3%

 

92614 (Woodbridge) - up 216%  (one of largest area gains in Orange County)

 

92618 (Oak Creek, East Irvine) - up 120%

 

92620 (Northwood) - up 52.9%

 

Orange County zip areas were mostly up too and had 7.7% gain in homes sold units during this time.

 

 

See OC Register article - Home prices up in 73 of Orange County Zip areas - click here.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

Please contact us if you are interested in Irvine and Orange County homes and properties. Thanks.

 

Posted via email from Explore OC Homes

Some People Stop Making House Payments - Is This the Right Thing to Do?

Wondering about whether it's the right thing to do, it's news that so many people have apparently made voluntary decisions to stop making their house payments, not attempting to satisfy their mortgage loan obligations to a bank or lender, while living in their homes rent free.

 

I heard yesterday about a man who did just that here in Orange County, stopped making his condo house payments, and lived there rent free for almost two years.

 

Is this a real ethical and moral dilemma for these folks?  Or are they simply trying to save money?  Is this a situation of survival mode for many Americans?

 

Regardless of reasons for this choice, lenders and their owners and shareholders, and eventually US taxpayers, have been and will be taking it in the shorts.

 

See Los Angeles Times article - Many borrowers in default stay put as lenders delay evictions - click here.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

Posted via email from Explore OC Homes

Fullerton, CA, Union School Board Adopted US Patriotic Display Policies for Classroom Education

Excellent news that the Fullerton, CA, union school district has adopted US patriotic display policies for classrooms.

 

It's sad that some people had complained in recent times and argued that US flags and our US pledge of allegiance shouldn't be in classrooms. 

 

On the other hand, it turns out that part of California Education Code encourages schools boards to adopt policies for US patriotic displays as part of the expected education process.

 

All high school classrooms in the Fullerton Joint Union High School District will now display the American flag and hold a patriotic activity on a daily basis after a unanimous 5-0 vote by its district trustees this week. 

 

These new policies were researched and developed by an eight-member student advisory council.

 

This is excellent news - an important school district here in Orange County recognizes how significant it is for US patriotic displays to be part of a young person's public education experience here in our great country and the State of California.

 

See OC Register article -  School board adopts patriotic policies - click here.

 

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

Posted via email from Explore OC Homes

Orange and LA County Home Sold Prices Level During December 2010 - Real Estate Market Good News

Report by Jeff Collins at the Orange County Register is positive that home sold prices in Orange County and Los Angeles County were level during December 2009 as compared to same time in 2008.

 

Los Angeles and Orange County home prices were even with last year’s levels in December, the first time prices didn’t fall in almost three years (according to the Case-Shiller Home Price Index).  

 

Chairman of the Case-Shiller Index Committee said: “As measured by prices, the housing market is definitely in better shape than it was this time last year, as the pace of deterioration has stabilized for now.”

 

This is good and sign of possible stabilizing local real estate markets.

 

See article - LA and OC Home Sold Prices Level for First Time in 3 years - click here.

 

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

For information about Irvine and Orange County homes and properties, please contact us at ExploreProperties@gmail.com. Thanks.

Posted via email from Explore OC Homes

Home Sold Price Gains During January 2010 - California County and City Comparison

Some of the top 10 California cities with state's largest home sold price gains during January 2010 were in Orange County.

 

How does your county and city compare?

 

see article - California January 2010 median home sold prices by county and city - click here for California Association of Realtors article. 

 

Orange County had sold price gain of 13.5%, and Santa Barbara county had state's largest median sold price gain at 23%.

 

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

For information about Irvine and Orange County homes and properties, please contact us at ExploreProperties@gmail.com. Thanks.

 

Posted via email from Explore OC Homes

California Association of Realtors - its January 2010 State Home Sales Report

The California Association of Realtors reported that January median home sold price increased 15 percent and that state home sales decreased 10.6 percent.

Facts:
· Existing, single-family home sales decreased 3 percent in January to a seasonally adjusted rate of 539,040 units on an annualized basis compared with December 2009.
· The statewide median price of an existing single-family home decreased 6.3 percent in January to $287,440, compared with December 2009.
· C.A.R.’s Unsold Inventory Index fell to 5.8 months in January, compared with 7.3 months in January 2009.

“Many sales that closed escrow in January were on homes with offers accepted during the holiday season--a time when many house hunters are first-time buyers,” said C.A.R. President Steve Goddard. “First-time buyers typically purchase homes priced below an area’s median home price.  Reflecting this, the percentage of homes priced under $500,000 increased to 77 percent of all sales in January, compared with 75 percent in December.

“Despite the year-to-year decline, sales remained above the 500,000 unit threshold for the 17th consecutive month, holding steady at pre-peak levels from early in the last decade,” said Goddard.

The median price of an existing, single-family detached home in California during January 2010 was $287,440, a 15 percent increase from the revised $249,960 median for January 2009, C.A.R. reported. The January 2010 median price decreased 6.3 percent compared with December’s $306,820 median price.

Highlights of the California Assoc. of Realtors resale housing figures for January 2010:

. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in January 2010 was 5.8 months, compared with 7.3 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

. Thirty-year fixed-mortgage interest rates averaged 5.03 percent during January 2010, compared with 5.05 percent in January 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.33 percent in January 2010, compared with 4.92 percent in January 2009.

. The median number of days it took to sell a single-family home was 33.8 days in January 2010, compared with 50 days (revised) for the same period a year ago..

In California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with nearly175,000 members dedicated to the advancement of professionalism in real estate.  

 

Source:  California Association of REALTORS^® -

See article - January sales and price report. California Association of Realtors - click here.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

Posted via email from Explore OC Homes

Artificial Turf Grass Not Always Better for the Environment - UCI Study Shows

Artificial turf grass is great for sports parks, usually looks good and is easy to care for.

 

But the Los Angeles Times reported today that UCI researchers found that artificial turf grass is not always better for the environment than regular old fashioned grass that aborbs carbon dioxide.

 

"... researchers calculated that emissions were similar to or greater than the amount of carbon dioxide removed from the air through photosynthesis -- a finding relevant to policymakers seeking to control the gases that trap heat in the atmosphere and contribute to climate change."

 

So perhaps it would be good for our State of California and local cities to reduce focus on what they perceive to be natural grass as a problem ... and consideration of carbon footprint.

 

It will be interesting to see what the "green" driven City of Irvine council and staff Environmental Control Department, with private consultants, does with this new information.

 

________________

Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See LA Times article - Turf Grass Not Always a Green Thing, Study shows - click here.

Posted via email from Explore OC Homes

Irvine Home Values Continue on Upward Swing - Market Update

Irvine, CA, continues to lead the way in hoped for return to balanced real estate market, with home sales and values continuing mostly upward trend during January 2010.

 

Irvine zip area 92602 (east and north Irvine, Portola Springs)- Median sold price of $597k, with 14 homes sales, which was up 16.7%

 

Irvine zip area 92603 (Turtle Rock, Quail Hill and Shady Canyon) - Median sold at $839k, which was up, and 15 homes sold, which was up.

 

Irvine 92604 (Woodbridge and Westpark) - median sold price at $481k, and 10 homes sold, which was down.

 

Irvine 92606 (West Irvine) - median sold at $569k, which was up, and only five homes sold, which was down.

 

Irvine 92612 (University Park and Ranch San Joaquin, and airport) - median sold at $520k, which was up and 15 homes sold, which was up.

 

Irvine 91614 (Woodbridge) - median sold at $448k, which was down, and 12 homes sold, which was up.

 

Irvine 92618 (Oak Creek, Orangetree and east Irvine) - median sold at $339k, which was down, and ten homes sold, which was up.

 

Irvine zip 92620 (Northwood) - median sold at $551k, which was up, and 14 homes sold, which was way up.

 

The Orange County median sold price as a whole during January was $425k, which was up, and 1867 homes sold, which was also up.

 

For Irvine City data and zip maps check out and click here.

 

________________

Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See DQnews.com article and chart about Orange County homes sales in January 2010 - click here.

 

 

Posted via email from Explore OC Homes

Survey Finds that Shorts Sales in US of Homes are Up - Are you Surprised?

It's not a surprise to us here in Orange County that a US Survey found that short sales of homes have increased and make up 15.9% of sales in January.

 

That's probably because more people are trying to take advantage of US bailout homebuyer tax credit, which expires April 30, 2010, and that inventories of equity sales offered by owner are down ... at least so here in Orange County, CA.

 

________________

Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See article at Inman.com, Feb. 23, 2010 - Short sales new peak in January - click here.

 

 

 

Posted via email from Explore OC Homes

IRS Expects Homebuyers To Crush it Prior to Deadline - April 30, 2010

Don't wait to take advantage of your opportunity for the extended US homebuyer income tax credit and its deadline of April 30, 2010.

 

The Internal Revenue Service has issued guidance on the two tax credit programs that are moving the real estate markets -- the $6,500 credit for repeat buyers, and the $8,000 first-time buyer credit.

The new IRS policy says Taxpayers need to submit to successfully obtain either credit.  Congress has directed IRS to detail documentation standards and install monitoring systems to spot fraud.

Here's what the IRS agency wants to see: 

- A fully executed IRS Form 5405 (see www.irs.gov)  where taxpayers provide basic information supporting their claim of eligibility, including income and home purchase date.

- A copy of the "settlement statement" (HUD-1) that proves the sale and purchase transaction actually took place. 

Nationwide, according to estimates by the National Association of Realtors, 1.5 million repeat purchasers and 900,000 first-timers are expected to apply for income tax credits this year.

For repeat purchasers, IRS wants documentation that, before latest purchase, they had lived in their former property for a consecutive five years out of the past eight years.  This could be property tax records, hazard insurance records or copies of annual mortgage interest statements filed with federal taxes.

Be careful with this and contact your income tax professional or Certified Public Accountant.

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See Ken Harney article, Feb. 18, 2010  - IRS wants proof for homebuyer income tax credits - click here.

Posted via email from Explore OC Homes

Strategies for Kitchen Remodeling - from HouseLogic.com and REALTOR.org

Good Strategies for your Kitchen Remodeling

by HouseLogic.com and REALTOR.org

 

1. Establish your priorities.

 

2. Keep your same footprint.

 

3. Match appliances to your skill level.

 

4. Create a well-designed lighting scheme.

 

5. Focus on durability

 

6. Add storage, not space.

 

7. Communicate effectively and often.

 

National Association of REALTORS. at REALTOR.org has started its free HouseLogic.com site for buyers and sellers with this article.

 

See House Logic article - 7 Smart Strategies for Kitchen Remodeling - click here.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

Posted via email from Explore OC Homes

What Happens when Homeowner Association in California Forecloses on its Lien for Unpaid HOA Assessments?

During the time I served on the board of directors at our homeowners association here at Turtle Rock Glen, Irvine, California, we were never forced to make a decision about possible foreclosure on a home because of unpaid HOA assessments.

 

But other HOA boards are being forced to make such decisions during these challenging economic times.

 

What happens when a HOA board in California forecloses on such a unit for unpaid assessments, and the trustee sale brings no buyers because the prior owner didn't have equity and the property is under water?

 

It's possible that title to the home unit is transferred to the association (HOA) at end of trustee sale after foreclosure. 

 

However, if there was underlying mortgage loan secured by deed of trust, that lender will also probably foreclose.

 

What happens then?  After HOA forecloses and gets title, if the lender then foreclose on its note secured by deed of trust, will that wipe out the association's lien and right to recover unpaid assessments?

 

Probably so.  That HOA lien was probably wiped out for its own HOA foreclosing, and title to property transfers to the association (subject to the delinquent owner's 90-day redemption rights).  After title transfers, the association's lien is likely extinguished, and the HOA would then own the property.  The HOA collection rights would also extinguished according to California law.  

 

Warning:  HOA board members in California should be very careful and always consult with counsel at each step of the decision-making process about delinquent HOA dues and rights and responsibilities of the association. 

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See the Davis Stirling newsletter for information about California homeowner associations and their rights and responsibilities - click here.

 

Posted via email from Explore OC Homes

Boy Scouts of America Teaching Young People Values and Celebrating for 100 Years

Tip of the Cap and Hooray to Boy Scouts of America

 

I enjoyed my time in scouting as a kid, while learning a lot about being prepared and showing respect for others. 

 

Even though I didn't reach Eagle rank during scouting days, I admire friends, leaders and those who made sacrifices to gain Eagle.

 

Boy Scouts of America has been teaching young people about good values and preparing for leadership now for many years and during this year of 2010 celebrating its 100 year anniversary.  That's great.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See article - Boy Scouts prepared to celebrate 100 - click here.

 

 

Posted via email from Explore OC Homes

Cheering form Home Loan Mods under US Program to be Made Permanent

It's good that US Treasury Dept finds progress with home loan mods through the Obama Admin. HAMP program.

 

However, this has a long way to go for success.  US Government should encourage lenders to get the temporary mods and payment relief through this program to be made permanent as soon as possible, for benefit of our economy, job and people involved.

 

This $75 billion dollar program had purpose of helping struggling homeowners modify their mortgages, and has almost a million active borrowers.  But just over 3 percent of the eligible borrowers have permanent loan modifications.

 

We have friends who were caught by downward home price market here in Orange County, lost their equity, still making payments, have applied for the HAMP program, and ask for the govt. to help to move this forward and get loan terms permanently modified.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See Reuters article, Feb. 17, 2010 - UPDATE 2-US Treasury says home loans in modification rise - click here.

 

 

 

 

 

Posted via email from Explore OC Homes

Homebuyers Should Get Going Now Before It's Too Late - US Federal Reserve Talking About Raising Rates

Of primary concern for a homebuyer is mortgage rates and affordability of the loan.  If you are concerned about home loan rates and want to be a homebuyer, now is the time for you to get moving.

 

Bernanke and US Fed are talking again about raising short term rates.

 

How and when will the Federal Reserve start raising short-term interest rates?

 

Another issue for them is how to manage and shrink the $2.2 trillion balance sheet that the Fed amassed when it put big money into the economy, 2008 and 2009.

 

So homebuyers should get going now and not wait for the Federal Reserve to raise interest rates as expected.

 

________________

Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See NY Times article, Feb. 9, 2010 - Fed to Reveal Its Strategy for Raising Interest Rates - clck here.

 

 

 

 

Posted via email from Explore OC Homes

California Governor Schwarzenegger argues for his Proposed State Homebuyer Tax Credit Program

California Governor Arnold argued support for his proposed CA first time homebuyer tax credit program.

 

This is part of his promotion of a $500 million jobs program that among other things would extend and expand the $10,000 CA homebuyer tax credit.

He argued:

• Use another $200 million to extend the program and for the first time expand it to buyers of existing homes.
• The construction of a new home doesn't just benefit homebuilders.  It triggers a chain reaction of framers, roofers, cement pourers, steel workers and other subcontractors who hire employees, as well as the purchase of furnishings and home accessories.
• First time home buyers need help to access the American dream.

We agree that the California housing and new construction industry needs help to recover.  Perhaps this is part of that puzzle.

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See Bakersfield.com article, Feb. 16, 2010 - Governor comes to Bakersfield to Draw Attention to Homebuyer Tax Credit plan - click here.

 

 

 

 

Posted via email from Explore OC Homes