The Fed Rate Cuts

With all the hype about the Fed's recent rate cuts, what many consumers don't know is that this alone does not effect mortgage rates. The reason being is that the Fed rate is the rate at which banks borrow money, not the rate at which they loan money. And what the market needs right now is not another rate cut but a loosening of the mortgage restrictions so that more buyers can qualify to purchase a home. But not to worry, we have seen these same cycles in real estate repeat for over fifty years. Every time the market goes through a correction, banks panic and begin tightening up their lending criteria. But trust me, banks need to lend money to make money. It’s a gradual process, but eventually the banks will loosen up their purse strings again. We'd like to see folks with decent credit and a good job who may not have a sizable down payment, be able to get back in the game, and they will very soon. The recent legislation to expand the conforming loan limit amounts will certainly help entry level buyers in the more expensive areas like Orange County.

Once first time buyers can buy, move-up sellers can sell and the higher end market will loosen up as well. Stay the course, build your equity; and remember real estate is a long term investment!

Kristen Supports Ben Comen's Foundation, Living Without Limits

At just 18 years old, Ben Comen's life is an inspiration to us all. A driven cross country runner, Ben has refused to be stopped by his cerebral palsy and his determination is one we should all aspire to. Though Ben's condition affects his balance, and though he typically finishes last in his races, Ben has never been one to stand on the sidelines or give up on the course he's chosen. Through all his efforts, he has been surrounded by teammates, family and friends alike who have cheered him on and supported him in every ambition.
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Ben's way of "giving back" was to, along with his family, establish the Ben Comen, Living Without Limits Fund of the Foothills Community Foundation. This Fund seeks to provide information, resources and support to challenged athletes, and to recognize their accomplishments along with the accomplishments of those who support them.

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At an annual real estate conference Kristen attended last month in Palm Desert, she got an intimate look at the truly irrepressible human spirit behind Living Without Limits. Ben's short documentary about his cross country experiences was shown the second day of the conference, followed by a surprise personal appearance by Ben himself. Within less than an hour, Kristen shared in raising over $12,000 for Living Without Limits and joined 300 other inspired agents in a 5:45am run the following morning with Ben leading the way!!

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"I returned home with a fresh perspective on life, excited about the future and the opportunities I have each and every day so many of us take for granted. I know for me, it's not merely about successfully selling Orange County homes, but having the chance to make a positive impact in my community each and every day by serving others! I learned alot from meeting Ben Comen and am proud I donated to his foundation, Living Without Limits. The best part of the whole experience for me was running with him and cheering him on to the finish!"

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For information on Ben's charity, visit his website at:http://www.livingwithoutlimits.org/lwl.htm

VIEW BEN COMEN'S DOCUMENTARY HERE

See 110 Almador on TV!!

As your favorite Las Palmas Realtor®, I will proudly market your home where the competition isn't-on TV! Be sure to catch your neighbor's very own commercial running from July 30th-August 6th on TBS and USA networks from 6am -4pm!!

I love what I do and I can sell your home too!!! Call me today for a free evaluation of your home and take advantage of my very progressive and customized marketing system to bring your home maximum exposure for maximum results.

View TV commercial now!

2007 Fourth of July Event in Irvine

Good Vibrations-A Fourth of July Celebration

Grammy-nominated surf band Papa Doo Run Run joins the Pacific Symphony with Beach Boys favorite tunes followed by an awesome patiotic fireworks finale!

Date: Wednesday, July 4, 2007 Beginning at 8:00 p.m.

LOCATION: The Verizon Wireless Amphitheater 8808 Irvine Center Drive Irvine, CA 92618

Tickets start at $21.00.

Reserve your seat on line. and enjoy the festivities!

List With Me and Be On TV!!

How exciting to have your very own commercial showcasing your home to thousands of viewers on the most watched TV networks in Irvine!!!

According to the A.C. Nielsen Company the average American watches 3 hours and 46 minutes of TV every day (that's over 52 days of nonstop TV watching each year). By age 65 the average American will have spent nearly 9 years glued to the tube; astonishing numbers!! -And television has proven to be our number one resource for news and media marketing products and awareness.

List with me and we will triple your property exposure (maximizing your financial return possibilities) by featuring your home on prime time television as part of my extremely successful marketing system, carefully individualized to make your property prevail and glow amongst the mass competition in the Orange County market today.

As your community Realtor, I'm committed to taking my services to the next level. Call me direct now for a no obligation market evaluation of your home.

You deserve the best in professional real estate representation and you will find that progressive edge with me.

7 Costly Mistakes Sellers Make

There are many inappropriate steps sellers can take when it comes time to put their house on the market. These are the 7 most common mistakes and how to avoid them.

1: Putting the home on the market before it's properly staged. Usually this happens because the seller gets impatient or is a procrastinator and has pushed him or herself up against a moving deadline failing to get any of the pre-sale work done. So then, it comes on the market with the horrible carpet (that gets replaced during the marketing of the home); or the painting is taking place after it is listing and being shown. Remember you only get one chance to make a first impression, so get the work done before marketing the property.

2: Over remodeling the home for the neighborhood. This happens with additions, bump outs, and upgrades that make the home stand out amongst the other homes in the community- so much so that it's an oddity as opposed to a sleek addition to the community. The buyer will most likely only pay so much extra for upgrades, the rest will come out of the seller's pocket.

3: Pricing the home based on what the seller wants to see him or herself net. This pricing strategy always ends in nonsuccess. Remember, though the seller can control the "asking" price, they cannot control the "sales" price. It's the black and white, matter of fact reality of the market place that determines this.

4: Hiring an agent based on personal reasons. It might seem nice to hand over your largest asset to your nephew who is a state licensee, but be sure you understand the consequences and risks involved if your deal starts going south.

5: Getting emotionally tied into the sale of the home. This is one of the biggest challenges sellers face when putting their house on the market. Once you decide to sell your home, it's no longer a house, but a commodity. It should be prepared as a commodity, marketed as a commodity, and priced as a commodity. It makes no difference what you "want," only what the market can bear on pricing. Buyers and agents are going to come in to kick the tires and so you cannot get over emotional about how they may or may not appreciate the nuances of your home of six years.

6: Trying to cover up problems or avoid disclosing them. Most states have a property disclosure form; hire an agent like myself who will help you use it wisely-but remember that just because you disclaim does not mean you cannot be later sued for the leaky basement, or dilapidated heating/air system the buyers discover 30 days after taking possession. Remember, it's surprises that drive buyers to sue, and less so problems that were already adequately disclosed.

7: Putting the cart before the horse, so to speak. This would involve the mortgage financing and reading the fine print to ensure no pre-payment penalties, not listening to the particulars of your local market and so on. If your area market is dictating lower home prices, then lower it early and not later, It WILL cost you if you don't. If the local market dictates selling your home first and then buying, do it in that order or vice versa.

Avoiding these mistakes is not that difficult when you have experienced and professional representation. As your Las Palmas REALTOR®, I am here to help you step over the pitfalls.

Ask The Expert

Simply click on "comments" below to post your real estate related question and check back shortly for the answer directly from your Las Palmas Realtor®, Kristen Jason.

Feel free to bookmark this link and check back for more real estate Q & A as the activity on this blog continues to grow.

Thank you!