Category Archives: REAL ESTATE NEWS

How to Lower Your Credit Card Interest Rate


Number one New Years Resolution. Get rid of your debt!

Five step Plan



What is the new rate for new customers? 0.5% FOR NEW CUSTOMER.


4. Compare national averages. 5 credit rates. pro sub prime

Are you a good borrower? 700 plus? 

5. Call your credit card company. Ask for the floor manager or supervisor. (Be Very Nice!) Tell your credit card company that you are a good borrower with a high FICO score of (700 pluse) and that you are paying a very high… 29.9 % rate. Tell them you want a lower rate.

** They may lower it at first 5% (or more). Make a deal with them;  after 90 days get a promise they will lower it by 20%.

 If they won’t thats when you shift your balance to a nother credit card company that will.

*Ask to speak to a floor manager or supervisor.  Make notes.

Debt Free for Life by David Bach. See video below.

How much money should I save for closing costs?

A lot of people ask me the question How much money should I save for Closing Costs? When negotiating an offer on a home, you can ask for a particular amount or percent towards the buyer’s non-recurring closing costs. This may work on a bank owned home best, but depending on the condition of the home and what amount you are offering for the home I like to put in a reasonable amount to help the buyers with their closing costs. For instance: There was a deal for a home for which I wrote the offer at $330,000 with 20% down = $66,000 + 3% closing =$9,900. We wrote in asking for up to 3% toward non-recurring closing costs and after the third offer on this bank owned home in Whittier, CA in relatively bad condition the bank (the seller) agreed to pay the buyers closing costs. This included their title, termite and escrow fees. It came to about $8,500. The buyers still had other closing fees they paid when purchasing a home such as their loan fees and home insurance, home warranty fees, etc. They had more than the amount to cover these closing costs when they made the offer to show strength as buyers. This fact helped them by showing the bank (seller) that they were strong buyers and understood the fact that the home needed repairs and that banks DO NOT MAKE REPAIRS. The buyers were savvy enough to listen and follow my professional experience and direction. It took 3 offers to win the bid but they are now fixing it up and living in the home which recent comparable sales show that they have equity of $120,000. Now, they put in about $70,000 in repairs so minus that from the 120k and they are sitting on some nice equity in a very nice situation. Close of escrow was April of 2010.

Depending on your down payment amount towards a $700,000 mortgage about you would want to have at least 3% which totals $21,000.00. This is only for closing not toward the down payment. A 10% down payment on a $700,000 offer would be $70,000, or 15% totals $105,000.

California Association of Realtors 2011 Market View

Hi Everyone,

Here is the 2011 view from  C.A.R.  It looks like buying a condo may be in your future! Short-Sale Sales are up. C.A.R. says the market is slowling healing…

LOS ANGELES (Oct. 4) – A weaker-than-expected economic recovery will result in a projected decline in California home sales for 2010, although home sales are expected to edge up slightly in 2011, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) “2011 California Housing Market Forecast” released today. 

California home sales for 2010 are forecast to decline 10 percent from the 2009 sales figure of 546,500 homes sold.  Sales in 2011 are projected to increase a lackluster 2 percent to 502,000 units compared with 492,000 units (projected) in 2010.  After two consecutive years of record-setting price declines, the median home price in California will climb 11.5 percent in 2010 to $306,500 and increase another 2 percent in 2011 to $312,500, according to the forecast.

“California’s housing market will see small increases in both home sales and the median price in 2011 as the housing market and general economy struggle to find their sea legs,” said C.A.R. President Steve Goddard.  “The minor improvement in the housing market next year will be driven by the slow pace of recovery in the economy and modest job growth.  Distressed properties will figure prominently in the market next year, but we also expect to see discretionary sellers play a larger role,” he said.

“As the U.S. economy continues its tepid recovery, we’ll see some improvement in California’s economy,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “We expect a net jobs increase of approximately 1.4 million jobs in California for the year to come and an improvement in unemployment figures,” she said.

“The situation in the California housing market continues to be a tale of two housing markets,” said Goddard. The segment of the market under $500,000 has been driven by distressed sales, while higher-priced areas of the state have been constrained by restricted financing options, and increasingly have experienced an increase in the number of distressed properties.  Sales in the low end have been constrained by a lack of inventory, putting upward pressure on prices.  Multiple offers on lower-end homes have been very common, according to Goddard.

“A lean supply of available homes for sale will drive prices up at the low end, but larger inventories and limited, less attractive financing will cause continued softness at the high end,” said Appleton-Young.  “There’s some indication that lenders will accelerate the number of foreclosures coming on market, further adding to the housing supply, but we do not anticipate that lenders will flood the market with distressed properties,” she said.

“The wild cards for 2011 include federal housing policies, actions of underwater homeowners, and the strength of the economic recovery,” said Appleton-Young.  “What is certain is that favorable home prices and historically low interest rates will continue to make owning a home in California attractive for those who are in a position to buy,” she said.

An expanded forecast presentation will be presented Wednesday afternoon during the CALIFORNIA REALTOR® EXPO 2010 (, running from Oct. 5-7 at the Anaheim Convention Center in Anaheim, Calif.  The trade show attracts nearly 7,000 attendees and is the largest state real estate trade show in the nation. 

Don’t miss “2010 Econ Panel:  The Future of Real Estate Finance and Your Market in 2011” during CALIFORNIA REALTOR® EXPO 2010.  C.A.R. Vice President and Chief Economist Leslie Appleton-Young will lead a panel of renowned economists as the experts share their predictions on what the changing economy means for real estate.  Panelists include: Richard Green, professor and director of the USC Lusk Center for Real Estate; John Karevoll, housing analyst at Dataquick Information Systems; and Michael LaCour-Little, professor and director of the California State University, Fullerton Real Estate and Land Use Institute.  The panel is scheduled to be held Thursday, Oct. 7, from 2 p.m. – 3:30 p.m. at the Anaheim Convention Center.


  2005 2006 2007 2008 2009 2010f 2011f
SFH Resales (000s)   625.0    477.5 346.9 439.8 546.5 492.0 502.0
% Change 0.03% -23.6% -27.3% 26.8% 24.3% -10.0% 2.0%
Median Price ($000s) $522.7 $556.4 $560.3 $346.4 $275.0 $306.5 $312.5
% Change 16.0% 6.5% 0.7% -38.2% -20.6% 11.5% 2.0%
30-Yr FRM 5.9% 6.4% 6.3% 6.0% 5.1% 4.7% 5.1%
 1-Yr ARM 4.5% 5.5% 5.6% 5.2% 4.7% 3.9% 4.1%

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( is one of the largest state trade organizations in the United States, with more than 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Video attched with this graph: 

(562) 972 9886

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California Association of Realtors Market Update Video

The easy way…just watch and listen.

 by Renee Baccaro Realtor 562.972.9886

Prudential California Realty

License 1718366

September Numbers are in…for CA

Well, Quick Data has them…and here they are, like em or not.

California September Home Sales

October 21, 2010
An estimated 33,176 new and resale houses and condos were sold statewide last month. That was down 3.1 percent from 34,239 in August, and down 17.5 percent from 40,216 for September 2009. California sales for the month of September have varied from a low of 24,460 in 2007 to a high of 68,114 in 2005, while the average is 44,310.

The median price paid for a home last month was $265,000, up 1.9 percent from $260,000 in August, and up 5.6 percent from $251,000 for September a year ago. The year-over-year increase was the 11th in a row, following 27 months of year-over-year declines. The bottom of the current cycle saw a median of $221,000 in April 2009, while the peak was $484,000 in early 2007.

Of the existing homes sold last month, 35.8 percent were properties that had been foreclosed on during the past year. That was up from a revised 35.7 percent in August and down from 41.7 percent in September a year ago. The all-time high was in February 2009 at 58.5 percent.

Now that the elections are over we can focus on our own lives again…and go back to our daily humdrum activities we creators of habit require. We will have to live  with out the entertaining commercials watching the candidates tormenting each other spending millions of dollars to do so, will we all struggle to pay our cable bill. Oh yes, the  holidays are just around the corner. Corporations like Toys R Us,  Best Buy, and JC Penny’s are hiring for the up coming holidays, so get your teens out there and put a pen in their pocket before you push them out the door!

I am reading the same old negative news from our  economist and politicians to prepare for a tight light 2010 holiday season. We are told to prepare for a tighter 2011 as well. Now, I have always enjoyed being an optimist, but I realize right now that  may be self-sabotaging as far as believing things will miraculously turn around in our California Real Estate Market. I am a Realtor in southern California, hard to see ahead with out shuttering a bit. There are thousands of foreclosures waiting to be listed by Freddie Mac and Fannie Mae. How can that be a good thing?  With Short-Sales and so many vacancies. Well, lets look at the positive aspects; no matter what happens if you buy a home now you will pay a very low price and if you get a loan you can lock in in at alarmingly low-interest rates. How can that be a bad thing? For the buyers its fantastic. For the Sellers, if you plan on selling your home and purchasing another home. In this instance you will benefit from a lower property tax rate by purchasing a lower-priced home. Therefor, there is a benefit for each side.

Call Renee Baccaro Realtor Short Sale Specialist with The Real Estate Geeks!                                                                                     Search for Homes on the SoCalMLS Free.

Links: The entire article: OC City list of sales for Sept.

10% Jump in September Existing Home Sales

Daily Real Estate News  |  October 25, 2010  |  

10% Jump in September Existing-Home Sales
Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of REALTORS®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 10 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.

Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.35 percent in September from 4.43 percent in August; the rate was 5.06 percent in September 2009.

The national median existing-home price for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.

NAR President Vicki Cox Golder said opportunities abound in the current market. “A decade ago, mortgage rates were almost double what they are today, and they’re about one-and-a-half percentage points lower than the peak of the housing boom in 2005,” she said. “In addition, home prices are running about 22 percent less than five years ago when they were bid up by the biggest housing rush on record.”

To illustrate the jump in housing affordability, the median monthly mortgage payment for a recently purchased home is several hundred dollars less than it was five years ago. “In fact, the median monthly mortgage payment in many areas is less than people are paying for rent,” Golder said.

Housing affordability conditions today are 60 percentage points higher than during the housing boom, so it has become a very strong buyers’ market, especially for families with long-term plans. “The savings today’s buyers are receiving are not a one-time benefit. Buyers with fixed-rate mortgages will save money every year they are living in their home – this is truly an example of how home ownership builds wealth over the long term,” Golder added.

Total housing inventory at the end of September fell 1.9 percent to 4.04 million existing homes available for sale, which represents a 10.7-month supply at the current sales pace, down from a 12-month supply in August. Raw unsold inventory is 11.7 percent below the record of 4.58 million in July 2008.

“Vacant homes and homes where mortgages have not been paid for an extended number of months need to be cleared from the market as quickly as possible, with a new set of buyers helping the recovery along a healthy path,” Yun said. “Inventory remains elevated and continues to favor buyers over sellers. A normal seasonal decline in inventory is expected through the upcoming months.”

A parallel NAR practitioner survey shows first-time buyers purchased 32 percent of homes in September, almost unchanged from 31 percent in August. Investors were at an 18 percent market share in September, down from 21 percent in August; the balance of purchases were by repeat buyers. All-cash sales were at 29 percent in September compared with 28 percent in August.

Single-family home sales increased 10 percent to a seasonally adjusted annual rate of 3.97 million in September from a pace of 3.61 million in August, but are 19.5 percent below the 4.93 million level in September 2009. The median existing single-family home price was $172,600 in September, down 1.9 percent from a year ago.

Existing condominium and co-op sales rose 9.8 percent to a seasonally adjusted annual rate of 560,000 in September from 510,000 in August, but are 16.2 percent lower than the 668,000-unit level one year ago. The median existing condo price was $165,400 in September, down 6.2 percent from September 2009.

Existing-home sales by region:

Northeast increased 10.1 percent to an annual pace of 760,000 in September but are 20.8 percent below September 2009. The median price in the Northeast was $239,200, which is 1.4 percent below a year ago.

Midwest jumped 14.5 percent in September to a level of 950,000 but are 26.4 percent below a year ago. The median price in the Midwest was $139,700, down 5.2 percent from September 2009.

South sales rose 10.6 percent to an annual pace of 1.77 million in September but are 14.9 percent lower than September 2009. The median price in the South was $149,500, down 2.6 percent from a year ago.

West increased 5.0 percent to an annual level of 1.05 million in September but are 16.7 percent below a year ago. The median price in the West was $213,600, which is 4.9 percent lower than September 2009.


 5 0 North La Habra Home: $423k  north of Whittier Blvd . Ranch Style, One Level Floor 3 bedroom 2 bath beautiful pool home. Square Feet: 1,874 Assessor and Lot Size: 7,350.
On 4th of July the neighbors set the lawn chairs out and watch La Habra High School firework…a little inside secret!

Call me if you want to see this listing. Renee 562.972.9886