Portable, Foldable Speakers Are Perfect For Your Office, Your Hotel, And The Beach

Fold-up speakers for your MP3 players? You better believe it. OrigAudio's eco-friendly Fold-N-Play speakers let you take your favorite playlists on the road to your office, hotel rooms and the beach.

 

Made from recycled materials, the Fold-N-Play speakers and arrives in a similarly-recycled box. It's two, flat pieces of cardboard with embedded speakers and an attached cable. There's no batteries.

 

All you need is a headphone jack.

 

Follow the enclosed instructions to convert the speakers into 3-inch cubes of sound. Then, when you're done, fold them back up and slip them into your laptop sleeve. The 1-watt sound won't rival a home stereo system, but will outperform most internal laptop speaker sets.

 

The OrigAudio Fold-N-Play made Time Magazine's list of 50 Best Inventions of 2009. It sells for $20 per set, or $80 for all 6 available styles.

 

Visit the OrigAudio website at http://origaudio.com.

 

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Lawmakers Deliberate HAMP Revisions

I know millions of you out there are having a financial crisis in one form or another.  The promise of help is on its way, but don't wait for help start acting now. If you have not spoken to your lender do so and see what they can do for you. For other options contact The Real Estate Geeks 714-272-5369

The House Financial Services’ housing subcommittee held a formal hearing this week on the administration’s new initiatives to provide help to underwater and unemployed homeowners through the Home Affordable Modification Program (HAMP).

Most of the industry participants testifying on Capitol Hill applauded the Treasury’s efforts to tackle these foreclosure triggers, but there are some who are questioning the logistics and the true effectiveness of the new program enhancements.
These enhancements, announced by the Treasury just three weeks ago, include principal write-downs on underwater mortgages, an FHA negative equity refinancing program, and temporary assistance for homeowners who’ve lost their jobs.

Andrew Jakabovics, associate director for housing and economics at the Center for American Progress Action Fund, said, “HAMP has been criticized by its overseers for essentially trying to address last year’s bad mortgages – subprime and other exotic loans whose terms were largely unsustainable from the start. In moving to offer underwater but otherwise creditworthy borrowers an FHA refinancing and in bringing principal write-downs into the HAMP modification process, the administration is attempting to tailor its response to address the current problem of prime loans going bad.”

Dean Baker, co-director of the Center for Economic and Policy Research, stressed to lawmakers that wider use of principal write-downs would be a strong tool in deterring the growing problem of strategic defaults.
“Being underwater means that homeowners have relatively little at stake in keeping their homes,” he said. “The fact that such a huge number of mortgages are underwater guarantees that there will be millions of homeowners facing default and foreclosure.”

But Baker noted that the housing bubble is still deflating and prices are expected to fall further still. He says when you crunch the numbers, many homeowners “will be better off giving up their home,” but rather than displace and uproot these families, Baker put forth a proposal to lawmakers that he says would be “a much more efficient approach.”

Baker urged Congress to enact legislation that would “temporarily change the rules on foreclosure” to allow homeowners to stay in their homes, paying the market rent for a substantial period of time following foreclosure. By incentivizing lenders to negotiate, he says this ‘Right to Rent’ law would “immediately benefit all homeowners facing foreclosure, could be implemented at no cost to taxpayers, and would require no new bureaucracy.”

The Congressional Oversight Panel said in a report issued earlier this week, “The long delay in dealing effectively with foreclosures underscores the need for Treasury to get its new initiatives up and running quickly, but it also underscores the need for Treasury to get these programs right. Even if Treasury’s recently announced programs succeed, their impact will not be felt until early 2011.”

Phyllis Caldwell, head of the Treasury’s Homeownership Preservation Office, told the subcommittee that implementation details for the principal write-down option is expected by early fall, with the unemployment forbearance component likely within the next two months.

Rep. Maxine Waters (D-California), chair of the housing subcommittee, expressed concern over the voluntary nature of the principal write-down piece of the program and bank executives’ testimonyfrom earlier in the week that a large-scale principal forgiveness push is unfair to a majority of mortgage-paying homeowners.

“Increasingly, I am unconvinced that these voluntary programs are going to provide the assistance that homeowners desperately need,” Waters said at the hearing. “When these financial institutions find themselves underwater on their own real estate investments, they themselves often stop making payments,” she said, citing Morgan Stanley’s strategic default earlier this year on five underwater office buildings in San Francisco.

In his testimony, FHA Commissioner David Stevens pointed out that the “housing initiatives must balance the need to help responsible homeowners struggling to stay in their homes, with the recognition that we cannot and should not help everyone.”

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This information was found on DS News by Carrie Bay

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It's A Good Time To Look At Adjustable Rate Mortgages

Each week, government-led Freddie Mac publishes a weekly mortgage rate survey based on data from 125 banks across the country.  According to this week's results, the relative rate of a 5-year ARM in California is extremely low versus its 30-year fixed-rate cousin.

Consider this comparison:

• In April 2009, the two products ran neck-and-neck with respect to rates
• In April 2010, the two products are split by 0.99 percent

On a $200,000 home loan, that's a difference of $117 per month to a mortgage payment.

Adjustable-rate mortgages aren't suitable for everyone, but they can be a terrific fit given your individual circumstance.  For example, any one of the following scenarios could warrant a 5-year ARM:

1. Buying a home with an intent to sell within 5 years
2. Currently financed with a 30-year fixed mortgage with plans to sell within 5 years
3. Interested in low payments and comfortable with longer-term interest rate and payment uncertainty

Additionally, homeowners with existing ARMs may want to refinance into a brand-new ARM, if only to extend the initial change date on the current note.

Before opting an ARM or a fixed, speak with your loan officer about how adjustable-rate mortgages work, and what longer-term risks may exist.  The savings may be tempting, but there's more to consider than just the payment.

Don't forget to subscribe to our site at http://www.TheRealEstateGeeksTv.Com For more up to date information about the Real Estate Market, Loans, Benefits of buying, selling, and/or investing & more. Once your on our site just put your email address in at the top right hand side of our page and click subscribe.

 

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How To Keep Your Kitchen Knives Sharp http://ping.fm/FLOaL

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Why You Shouldn't Schedule Your Closing For May 28, 2010

The federal home buyer tax credit expires April 30 and the deadline is sparking a home sale surge. It figures to burden real estate, mortgage and title offices nationwide over the next 60 days so plan your closing date accordingly.

Especially because the last Friday in May is the Friday before Memorial Day.

Now, if the connection between the tax credit and Memorial Day is not immediately clear, think of your own office on a 3-day weekend's Friday. Some of your colleagues take a half-day at work, others take the entire day off.

Office-wide, productivity drops.

The same is true in the real estate space. Offices are short-handed ahead of a holiday so, if you're under contract for a home and plan to close in May, consider a closing date other than Friday May 28, 2010. 

And meanwhile, with 6 weeks until Memorial Day, here's some steps you can take today prepare for other people's time off later. 

 

 

1. Notify your lender of your planned vacation time between now and your scheduled closing
2. Purchase a homeowners insurance policy and prepay the first year. Send proof of payment to your lender.
3. Have Power of Attorney forms lender-approved and signed by all parties in advance, if applicable
4. Deposit gift monies and/or retirement fund withdrawals into an acceptable bank account, if applicable
5. Schedule your final walk-through as far in advance as is realistic so there's time to make "fixes", if needed
6. Have your closing funds ready at least 1 day in advance

The tax credit's expiration is around the corner and as it gets closer, real estate-related businesses are taking on more work. Basic title and mortgage tasks are taking longer to complete and that should persist for a while.

Get ahead of the curve and beat your contract dates handily. Use the checklist above and be responsive to your lender's requests.

 

And, if at all possible, avoid closing on the Friday before Memorial Day and even the Tuesday after -- it's when office staffs are at their smallest.

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The Best Home For Sale In Alamitos Heights of Long Beach

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California Legislature approves tax break for people in foreclosures, short sales

This was in yesterdays Los Angeles Times... So if any of you who are having a financial hardship, THIS IS BIG NEWS for YOU If you have any questions about this piece of Legislation or the Federal Debt Forgiveness Act please Contact Your Tax Consultant & The Real Estate Geeks: Chip Esajian @ 714-272-5369 or Melissa Bayles @ 714-720-2555 The measure, which is expected to be signed by Gov. Arnold Schwarzenegger, would waive state taxes on mortgage debt that has been forgiven in a foreclosure or short sale. By Patrick McGreevy of The Los Angeles Times Reporting from Sacramento Thousands of Californians whose homes were foreclosed on or sold at a loss would get tax relief under a measure approved Thursday by the state Legislature. The bill would waive state taxes on mortgage debt that has been forgiven in a foreclosure or short sale. It is expected to affect about 34,000 taxpayers. Gov. Arnold Schwarzenegger said he would sign the measure, which would also provide about $60 million in tax credits to green-energy companies, when it reached his desk. Californians can already claim the tax breaks on federal returns. Lawmakers passed the measure in time for people to take advantage of it by the April 15 deadline for filing tax returns. "The mortgage-debt tax relief provision in this bill will provide financial shelter for tens of thousands of Californians who have lost their hopes and dreams in the housing market crash, and it's about time we gave these folks a helping hand," said state Sen. Ron Calderon (D-Montebello). The short-sale provision would mean about $34 million less in tax revenue for the state over three years, according to the Franchise Tax Board. The "green" credits are a response to the federal American Recovery and Reinvestment Act, which provides grants to firms for power plants that produce renewable energy. The federal government does not tax the grant money. Under the bill approved Thursday, California would provide similar relief. Other parts of the measure, SB 401 by Sen. Lois Wolk (D-Davis), were called tax increases by Republicans. Even though they supported the tax-relief element, several GOP members of the Senate and Assembly voted against the bill, which was opposed by the Howard Jarvis Taxpayers Assn. The Republicans objected to a provision that would reduce deductions for charitable gifts, and to changes that would allow the state to tax more income earned by minor dependents. The changes would also make it harder to qualify a home as a principal residence for purposes of escaping capital gains taxes when the property is sold, and some penalties and interest charges to corporations would be increased, according to Therese M. Twomey, a principal consultant for the Senate Republican Policy Office. These changes would bring in more than $10 million in new revenue over five years, Twomey said. "It's an issue of fairness," said Sen. George Runner (R-Lancaster). "You are giving money to one group of people and taking it away from another group of people." With the plunge in the real estate market, many Californians have found themselves owing much more on their mortgages than their homes are worth. Some have been foreclosed upon or asked their lender to approve a short sale, in which a home is sold for less than the debt, some of which is waived. The amount waived has been considered taxable income under California law. The measure passed Thursday would eliminate that tax when a bank agrees to accept less than what is owed on a home. The governor vetoed a similar bill last month because it included a provision, since removed, that would have increased penalties against businesses and wealthy individuals who abuse tax credits. Business groups including the California Chamber of Commerce and Western States Petroleum Assn. complained that the provision would have made businesses reluctant to claim the tax breaks for fear of making a costly error. The businesses also said California's tax penalties were already tougher than those in other states. Wolk said the penalties would not have applied to honest mistakes. The new measure would lift a great burden from the shoulders of Valarie Wood and her husband, who were facing a $10,000 state tax bill on debt that was forgiven in a short sale of their property in Ventura. The 10-acre property, which included an avocado grove, had plummeted in value far below what they owed. Health problems and a "mortgage gone awry" forced the couple to renegotiate their loan with their bank, which agreed to waive about $300,000 of debt on the house and property, Wood said. "We've lost our dream home. We are in our 60s, and it was going to be our retirement," she said, her voice choking with emotion. "This bill is crucial for people like us. We are extremely relieved." Schwarzenegger said during a news conference Thursday that he wants to give homeowners and businesses "the relief they need." "We want to be helpful in every way we can, so we will sign it," he said.

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Don't Leave Tax Credits On The Table (And How To Get Them Back If You Already Filed)

Taxes are due April 15 and if you're among the millions of Americans who wait until the last week to file, here's a video interview that could help you reduce your federal tax liability. 

Originally broadcast by NBC's The Today Show, the 4-minute piece reviews various tax credits and deductions, plus some recent tax law changes.  A few of the topics covered include:

• Tax filers receiving larger "personal exemptions" in 2009 versus 2008
• Unemployment income recipients being required pay taxes beyond the first $2,400 received
• The "first time" home buyer credit being extended to non-first time home buyers for up to $6,500

The interview also talks about how taking a parent, child or other family member into your home may change your tax filing status and reduce your tax liability.

Even if you've filed your taxes already, watch the video above. You may find that you missed a potential deduction. If that's the case, consider filing an amended return with the IRS to recapture the credits you left on the table.  Most times, the benefits of re-filing will outweigh the costs of doing it.

Be sure to talk with your tax professional for personal tax advice.

Also don't forget to ask about how buying a home or an investment property can save you money too

 

For more information on getting the right home, at the right price, at the right time... Contact The Real Estate Geeks Chip 714-272-5369 or Melissa 714-720-2555

 

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The March Fed Minutes Explains Why Home Sales Weren't Worse This Winter

Mortgage markets improved yesterday after the Federal Reserve released its March 16, 2010 meeting minutes. It's good news for home buyers and rate shoppers -- rates could have just as easily gone the other way.

The Fed Minutes is a detailed recap of the debate and discussion that shapes the nation's monetary policy. The notes are dense; it takes 3 weeks to compile them for publication.

As compared to the more well-known, post-meeting press release, the Fed Minutes are extremely lengthy. For example:

• March 16 press release : 451 words
• March 16 meeting minutes : 6,152 words

If the press release is the executive summary, the Fed Minutes are the novel.

The extra words matter.The minutes recount what the Fed did, how the Fed did it, and what the Fed plans to do next. And, in the minutes, Wall Street looks for clues. 

This is why the report is important to every rate shopper in the country.

When the Federal Reserve publishes the minutes from its meetings, it leave clues about the groups next policy-making steps.  For example, in March's Fed Minutes, it's clear that the Fed's concern about inflation is hugely diminished and that's a major plus for the mortgage bond market.

Inflation causes mortgage rates to rise. The absence of inflation, therefore, helps them to fall.  This improves home affordability, among other things.

Similarly, the Fed Minutes note that real estate sales may have been worse throughout the winter months if not for low mortgage rates and the sense among Americans that home prices were troughing. We may infer, therefore, that rising rates may suppress home sales later this year.

Markets are always looking for clues from inside the Fed and the last meeting's minute signal that the economy is on its way up.  If you're looking for a bargain in the housing market, your window to act may be closing.

For More Information about your area contact The Real Estate Geeks Chip @ 714-272-5369 or Melissa @ 714-720-2555

 

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Pending Home Sales Soar In February, As Expected. Buyers Are Everywhere.

As expected, the Pending Home Sales shot higher in February, boosted by the federal home buyer tax credit's April 30 deadline.

Versus the month prior, February's index rose 8 percent but remains well off the highs set last October.

For today's home buyers and seller, the Pending Home Sales Index is an important measurement. This is because a "pending home" is a property that is under contract to sell, but not yet closed.

According to the National Association of Realtors®, 80% of homes under contract close within 60 days, historically. Therefore, a higher Pending Sales figure in February projects that April's Existing Home Sales will be higher, too.

If you're a home buyer today, no doubt you've noticed the extra market activity.

On right-priced homes, multiple offer situations are more common; sales prices are settling closer to listing price; Days on market is falling. These are the signs of a buyer-heavy market.  It drives home supplies down and home prices up.

It's a good time to be a seller, in other words.  Especially as buyer activity looks poised to peak.

When the home buyer credit faced its last expiration in November 2009, we saw a pattern of buyers rushing to beat the deadline.  There's no reason to expect that won't happen again. And as it does, Pending Home Sales should continue to climb. Average home sale prices should rise.

Home buyers may find it smart to go under contract sooner rather than later. Pending Home Sales is a warning shot.  Higher home sales figures are ahead.

What's your home worth? To find out contact The Real Estate Geeks for a FREE no obligation consultation: Chip Esajian 714-272-5369 or Melissa Bayles 714-720-2555

 

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Worried About Natural Disasters? Here's How To Protect Your Household.

Baja California was hit by a 7.2 magnitude earthquake Sunday, a tremor felt as far away as Yuma, Arizona. Rhode Island dealing with massive flooding. Winter storms are pounding the Rockies. It all reminds us that natural disaster can strike anywhere, at anytime. 

You can't stop Mother Nature, so your best defense is to be prepared.

A terrific resource for families around the country is the Department of Homeland Security's Ready.gov, a website aimed at family, business and community disaster readiness. This includes defense against physical attacks, and as well as hurricanes, tornadoes, earthquakes and floods.

The Ready.gov website contains tips, notes and checklists, including the 3-minute "It Takes Just Three Steps To Get Ready For An Emergency" video featured above. 

If you've never watched it, do it now.  Then, test your home's disaster readiness with this 10-question quiz.  There's no "passing grade" on the test but, via your own answers, you'll see where your home has room for readiness improvement.

Disasters are unpredictable and most of us will face them at least once in our lives. Be prepared in advance, therefore.  Protecting your household is simpler than you think.

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Case-Shiller Shows Home Price Improvement In A Majority Of Cities Nationwide

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Standard & Poors released its Case-Shiller Index Wednesday. The report shows that, on a seasonally-adjusted basis, between December and January, home prices rose in more than half of the index's tracked markets.

The strength of this month's Case-Shiller report, however, should be put in context.

For one, the report is on a 2-month delay; it's showing data from January, before the start of the Spring Buying Season and before the rush to beat the tax credit. Anecdotally, buyer interest has been strong since, leading to the types of multiple offer situations that drive home prices northward.

In other words, home values may be even higher than what's reflected in the January Case-Shiller data above.

Furthermore, the Case-Shiller Index measures home values in just 20 cities nationwide and they're not even the 20 biggest cities. Houston, Philadelphia, San Antonio and San Jose are specifically excluded from the report and each ranks among the country's 10 most populous areas.

Despite its flaws, though, the Case-Shiller Index remains important. Much like the government's Home Price Index, the private-sector report helps to finger broad housing trends and housing is still considered a keystone in the U.S. economic recovery.

Even if it's two months slow.

For more information about your homes value give us a call for a FREE consultation: The Real Estate Geeks 714-272-5369

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As of April 1st 2020 The Federal Home Buyer Tax Credit Enters Its Home Stretch — 30 Days Left

There's just 30 days remaining to use the federal home buyer tax credit. The credit ranges up to $8,000 for first-time homebuyers, and up to $6,500 for existing homeworkers who have lived in their main home for 5 of the last 8 years.

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