By Don Dunning | February 19, 2010
For the second time in the past year, the California Association of Realtors (C.A.R.) has headed off another state attempt to double tax its members, most of whom are independent contractors. The legislation would have required employing real estate brokers to deduct three per cent of each licensee’s commission payment and send this to the […]
Read MoreBy Don Dunning | February 12, 2010
The typical buyer knows little about real estate contracts and less about how banks that own properties (REOs, Real Estate Owned, in Realtor talk) alter those agreements so they are much less friendly to purchasers. If you are considering buying a bank-owned home, make sure to talk to your agent about the “addendum,” really a […]
Read MoreBy Don Dunning | February 7, 2010
Got back yesterday from California Realtors meetings in Indian Wells — lots of sessions about problems in working with banks on short sales and bank-owned homes (REOs). Sellers who are underwater with their mortgage, and choose a short sale, need to make sure that is the best choice for them. Banks are commonly having these […]
Read MoreBy Don Dunning | February 4, 2010
Yesterday was a beautiful, sunny day here in Indian Wells. Directors of the California Association of Realtors (C.A.R.) had a number of important things on the agenda, including the first major revision to the purchase contract in many years. I thought that was going to be the hot topic until I heard about the proposal […]
Read MoreBy Don Dunning | January 28, 2010
Effective February first, FHA will insure properties that have been purchased and resold with 90 days. The prohibition was instituted in 2003 in an attempt to discourage lender fraud related to inflated mortgages accompanied by dishonest appraisals. It has had the unintended consequence of preventing FHA purchasers from buying legitimately marketed homes that have been […]
Read MoreBy Don Dunning | January 26, 2010
Acacia melanoxylon, also known as Australian or Tasmanian Blackwood, is a common tree in the East Bay. Arborists consider it a noxious weed because of its invasive nature. Formerly used to line streets in cities and towns, its use has diminished because it can damage pavement and underground pipes, such as sewer lines. The Blackwood […]
Read MoreBy Don Dunning | January 25, 2010
Freddie Mac (The Federal Home Mortgage Association) and Fannie Mae (The Federal National Mortgage Association) have functioned since 1968 as GSEs (government sponsored enterprises). Until seized by the Federal government in September 2008, the two companies were privately owned and operated by shareholders but were financially backstopped by the Feds. House Financial Services Committee Chairman […]
Read MoreBy Don Dunning | January 21, 2010
Not that many years ago, buyers with less than 20 per cent down, including those with zero cash, had numerous options for getting home loans. The mortgage meltdown has changed all that. Today, for these low down payment loans, the only game in town is a Federal Housing Administration (FHA) loan, with a minimum 3.5 […]
Read MoreBy Don Dunning | January 17, 2010
Compact Fluorescent Lamps (CFLs) use about 75% less energy than incandescent bulbs, which make them an economical and environmentally friendly choice. There are a few things to remember about them: As they contain a small amount of mercury, be careful to dispose of them properly in special recycling centers. Compact fluorescent light bulbs are intended […]
Read MoreBy Don Dunning | January 13, 2010
My wife and I love our granite counters, so I was interested to read that this stone may be losing some of its popularity. Various alternatives, such as “CaesarStone,” “Silestone” and other, engineered-quartz products, as well as soapstone, a non-porous natural stone, are on the upswing. Additional options include concrete and glass, as well as […]
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