Real Estate News
Chile Earthquake 8.8 Tsunami May Hit Southern California Coastline at 12:20 PM Today
February 27, 2010 by Jay Valento · Leave a Comment
“This just in from NOAA (National Oceanic and Atmospheric Administration): a tsunami warning is in effect for the state of Hawaii and Southern and Central California — along with all countries with a Pacific Ocean-facing coastline. The tsunami was generated by a devastating 8.8 earthquake in Central Chile (which has left at least 100 dead) and it could cause damage along coastlines of all west coast countries and all islands in the state of Hawaii. Urgent action should be taken to protect lives and property.”
- This is a widespread warning and watch from Hawaii to the California coastline. It always good to be prepared. A Tsunami is a series of waves generated by earthquakes, underground volcanic activity. It may start as a small wave and increase in size and become faster as it moves a shore.
- Hawaii is taking this warning very seriously (see video below):
I just text messaged and emailed our clients that live along the coastline from Long Beach to San Clemente. Although Long Beach has a breakwater out about 2 miles from shore, that’s why we don’t have high surf here in Long Beach, CA.
God Bless You,
Jay & Stella
The Red Wagon Team
www.RedWagonTeam.com
How To Search Online for a Home for Sale
January 3, 2010 by Jay Valento · Leave a Comment
Long Beach Realtor Makes the Top 50 Real Estate People to Follow On Twitter
December 31, 2009 by Jay Valento · 2 Comments
Happy Long Beach Realtor® named to Top 50 List for Twitter
Each month Roost.com, a leading residential real estate search engine. comes out with their Top 50 Real Estate People to follow on Twitter.com. Jay Valento, Co-Founder of The Red Wagon Team that covers Long Beach real estate, as hometourjay …I made the list for December 2009….”that’s so cool.”
http://blog.roost.com/2009/12/31/roost’s-50-people-follow-twitter-december/
- Follow Jay on Twitter.com/hometourjay
What will I say in 2010 on Twitter?
What will happen in 2010?….inquiring minds want to know
Merry Christmas Long Beach
December 25, 2009 by Jay Valento · Leave a Comment
May God Bless You and Your Family this day….
Jay Valento & Stella Frize,
The Red Wagon Team at Main Street Realtors
How the Housing Affordability Fund’s Mortgage Protection Program in California Works
August 6, 2009 by stellafrize · 1 Comment
The California Association of Realtors® has a new program called “Housing Affordability Fund’s Mortgage Protection Program”. It enables first time home buyers who lose their jobs due to layoff or job loss are entitled to receive $1500 towards their mortgage payment. If there is a co-borrower, they too are eligible to receive up to $750 toward the mortgage payment. Those payments can come in handy, wouldn’t you agree?
Is there a cost for you to be apart of this program? No.
Here’s how it works….
When you purchase a home, you have to give your California Realtor® permission in writing to enroll you into the program at the close of escrow. A few documents are mailed in for your file. Once you are approved for free, you are in the program. If you experience a layoff after a being in the program for six months, then you would be eligible to receive the mortgage payments. The program is good for up to 6 months and you must also be a W2 employee…not self-employed. You must purchase a home between April 2, 2009 to close escrow by December 31, 2009. The program is excellent and I think it will help first time buyers with the jitters of buying their home. Learn more about this free California program by downloading the “Housing Affordability Fund’s Mortgage Protection Program” flyer in Adobe PDF.
- What do you think about this program?
Author: Stella Frize, California Realtor, 18 years of experience. 714-336-7554 stella@redwagonteam.com
9:39 PM 2nd Blackout Hits Belmont Shore
June 24, 2009 by Jay Valento · Leave a Comment
Belmont Shore residents on Roswell noticed all of thier lights going out for a few minutes. This caused local residents to reset their computers, modems, vonage boxes and so on. Where were you? Belmont Shore.
There was no earthquake, tidal wave or rain downpour to cause the problem. Local media have not announced it.
Long Beach Houses Sales Report
April 15, 2009 by Jay Valento · 2 Comments
Long Beach Home Sales Report – March 2009
In March 2009,
- 182 homes were purchased by families to individuals in Long Beach.
- Average price city wide for a single family home was $338,410.
- Highest priced home in March that sold was $1,225,000 that was located in the Belmont Park neighborhood just north of Belmont Shore.
- An average of 74 days on market before the seller accepted an offer
$8000 Tax Credit for Home Buyers Adjusted in Stimulus Package
February 12, 2009 by Jay Valento · Leave a Comment
While the $15,000 tax credit was appealing to home buyers, it also increased the overall stimulus package that the Congress is working on…so what did they do?
According to an article in the Associated Press:
“Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said. The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles.”
It has been adjusted to $8,000 for first time buyers who qualify.
Regardless of the actual tax credit, homes are more affordable for first time buyers of Long Beach homes and condos as well as move up or relocating home buyers…and we have found some great buys for investors too during this time.
What is a “Short Sale” or Pre-Foreclosure?
February 7, 2009 by Jay Valento · 1 Comment
A “Short Sale” means that the owner owes more than the home is listed for and is trying to sell it short of what they owe. The lender who holds the mortgage would have to approve the lower amount in order for the sale to go through. In addition to that, the seller would have to provide the lender documents proving that they have suffered a financial hardship.
The process can take up to 3 months or as long as 6 months from the time an offer is submitted to a decision is made on a property by the bank…occasionally it is less time. It just depends on the bank. Some banks are offering the seller the option to have their loan modified instead of selling it short. The risk for the buyer who makes in an offer is that if escrow was opened on the purchase and the buyer has incurred costs like an appraisal or home inspection and the seller chooses to modify their loan with the bank, then the seller may want to cancel. That may raise legal issues.
To summarize:
- Short sales can take up to 3 months or as long as six months to close escrow, so you need a lot of patience.
- Some banks are willing to grant the seller a short sale and some are not
- The seller may decide to accept the loan modification from their bank
Focus on Southern California foreclosures and properties that are not short sales or “pre-foreclosures”.
$15,000 Home Buyer Tax Credit Could Help the Southern California Real Estate Industry
February 6, 2009 by Jay Valento · 1 Comment
More Tax Credits for Home Buyers?
US Senator, Johnny Isakson, with a many years of experience in real estate developed an amendment that passed in the US Senate today and may be included in the economic stimulus package. The amendment proposes a $15,000 or 10% of the purchase price as a tax credit to individuals who purchase a home in the next year. The tax credit would not have to be repaid. The amendment goes back to the house of representatives now for further debate.
Back in the 1970’s, America faced a similar housing problem and the Congress passed a $2,000 tax credit. The Senator believes that this amendment would help the housing market recover quicker. Contact your government representatives and urge them to include this in the future stimulus package. Read more about the amendment….
Since you are considering purchasing a home or condo, take a few minutes to learn about simple home buying tips and then check out our interactive Southern California property search on a Google map.
Red Wagon Team Community Tool Bar for Long Beach Real Estate
December 15, 2008 by Jay Valento · 1 Comment
How to Get a Free Long Beach and Southern California Real Estate Toolbar
Get connected to the best real estate in Southern California. Explore more cities than other website in our area.
Cool Real Estate Toolbar Goes Beyond Long Beach California
Let’s say that you want to purchase a home in Newport Beach instead of Long Beach, your property toolbar gives you quick access to real estate listings in over 320 cities in Southern California. The toolbar comes with a Google™ quick search and direct links to our most popular Southern California and Long Beach real estate website.
Many agents on the internet claim to be number one in their market places just like they do when they knock on your door. It is a little crazy. The reality is that you, the online consumer, are number one in our lives. We value your opinion and enjoy giving back.
Take a few seconds and download our FREE toolbar today that will appear on your Internet Browser….
| toolbar powered by Conduit |
New Free Red Wagon Team Toolbar Features:
- Google™ Search
- Property Search for Long Beach, Orange County, Riverside County
- Bank Foreclosures link to the best buys
- Buyer Tips and strategies to get a great buy
- Mortgage Tips
- Read the Inside Scoop on real estate
It’s Free and takes only seconds to download:
Southern California Fire Smoke Cloud Reaches Long Beach CA
November 15, 2008 by Jay Valento · Leave a Comment
Fires from Los Angeles County to Corona to Orange County and Felt Beyond
Fires are burning in Southern California. A few days ago our first fire started in Montecito in Santa Barbara about a two hour drive from Long Beach.
Then, last night a fire started in Sylmar which is about 60 minutes from Long Beach. I woke up this morning and watched the news on the Sylmar fire. There is a manufactured home park in Sylmar that lost over 500 homes today. This is an upscaled park in the area.
Fire Reported in Riverside County
At 9:45 am there was a report of a fire in Corona near the 91 Freeway and the Green River exit. I called one of our clients that just purchased a home in Corona in August to make sure they were okay. They are. Thank God.
- The west bound side of the 91 Freeway in Corona is closed at Green River.
Orange County Fires
The Corona fires moved west and south into the Orange County cities of Yorba Linda and Anaheim Hills by the way of the Santa Ana River. The homes in Yorba Linda range in price for $600,000 and up. The same is true with Anaheim Hills. The Corona fire is now being called the Yorba Linda fire.
Personal Experience
I visited my parents home in Downey and could smell the fire smoke. When I left there and headed back to Long Beach, the cloud of smoke had traveled from Corona to the beach. The air is thick with ash and smoke. The ashes are falling here in Long Beach. The smell of the smoke effects me physcially so I have stayed in doors since I arrived back in Long Beach.
How the Fire Jump Scotches
“Fire embers” are carried by the wind and ignite fires when they land on brush or homes. It was just reported that some of the embers have traveled as much as 3 miles from Corona to Yorba Linda…and landed on some multiple million dollar homes in Yorbra Linda. The direction of the fires are unpredictable.
What to do if the fire effects you
Pack a “to-go” box or carrying bag ahead of time. Fill it with insurance papers, bank statements, important documents along with your identification, credit cards and cash. Perhaps a phone book of friends as well. Radio stations like KFWB News 98 AM and KNX 1070 AM are great stations for updates on these fires, traffic and news reports. All of the local television stations are covering the fire as well like KTLA 5, KNBC 4, KABC 7 and CBS 2.
What do homes look like on Hidden Hills Road in Yorba Linda where the fires are taking place? We created a quick link just for you…Yorba Linda real estate.
