In Home Improvement

1. Check your heating system including filters, pilot lights and burners. Have the system serviced by a qualified professional. Cleaning and servicing now can save you money later. Learn steps to boost your furnace’s efficiency and how to replace your furnace filter.

2. Clean and vacuum dust from vents, baseboard heaters and cold-air returns. Dust build-up in ducts is a major cause of indoor pollutants and can increase incidences of cold-weather illnesses. Consider hiring a pro to clean hard-to-reach ductwork.

3. Paint interior rooms while it’s still warm enough to leave windows open. Ditto for shampooing or replacing carpets. Give a fresh start to your interiors just in time for fall and winter parties and family gatherings. Learn painting steps to success — how to choose the right paint, how to solve paint problems and more.

4. Caulk exterior joints around windows and doors. Caulking helps keep your house weather-tight and lowers heating and cooling bills. It can also help keep insects and other “critters” out of your house. When you caulk before painting, it eliminates edges where the paint may start to peel.

5. Protect your home from uninvited critters. As urban limits expand, more and more homeowners have to contend with wildlife in their yards and houses. Installing grates, securing trash containers, even humane traps may help.

6. Start to put away tools and equipment left outdoors during the summer such as play equipment, lawn mowers, barbeques, gardening tools and hoses. It may be time to winterize your pool, too.

7. It’s time to think about the condition of your roof. Be proactive and prevent emergency — and expensive –repairs. Find out about common trouble spots and how to locate a leak from inside.

8. Next to checking your roof, insulating your home is one of the most important tasks to accomplish before the onslaught of winter. Insulation goes beyond simple weatherstripping and caulking (see #4) and may be a job for professionals. The money and energy you’ll save will make the job worth it. Learn more about insulation …

9. You insulate and weatherstrip and think that you have your home all sealed up for winter. But there are some inconspicuous spots through which heat can escape. Learn how to seal these gaps too.

10. Inspect and clean your storm windows to get them ready for installation. Storm windows can help you save energy during the cold months and are significantly less expensive than putting in new double- or triple-glazed windows.

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Patience is Key When Looking For and Purchasing Rental Property

By Paige Tepping

RISMEDIA, October 22, 2010–As today’s economy continues to struggle, homeowners across the country are looking for ways to make ends meet, and many are taking on the role of landlord. While jumping into the rental scene may seem enticing, it is important to make sure you are prepared for the task before you get started.

According to the experts at AllBusiness.com, the following tips will help homeowners looking to buy rental property find success, no matter what the market.

Do your homework and find a reputable agent or broker. Taking the time to find a reputable real estate agent or broker before you begin searching for a rental property is crucial. The agent or broker that you ultimately choose to work with should know the neighborhood(s) where you are interested in buying, in addition to helping you choose properties that fit your needs.

Make sure your finances are organized. Going through your finances and making sure everything is in order is a crucial part of the purchasing process that shouldn’t be overlooked. If there is any chance that you will be taking out a mortgage in order to finance your rental property, it is important to do your research early to make sure there are no discrepancies on your credit report. If you find that your credit report is inaccurate, report it immediately so you can get the problem resolved quickly.

Set a maximum amount you can afford to pay. Before you even begin looking at properties, you should carefully examine your finances and your current situation to establish the maximum amount of money you can afford to spend. By not coming up with a number beforehand, it is easy to get carried away and spend more money than you should have.

Schedule a home inspection. Before you buy a rental property, be sure to call in a professional home inspector who will come and evaluate the home. Home inspectors will be able to tell you if the home is safe to live in, and if there are any problems that need to be addressed. This is a great way to avoid expensive repairs down the road.

Take a close look at the neighborhood. Once you have found the property that will best suit your needs, be sure to take the time and get to know the neighborhood. It is usually a good idea to visit the neighborhood during the day and at night so you can get an accurate feel for what the area is like.

Stay up-to-date. If you are looking to purchase a rental property in an area in which you aren’t familiar, you should do your homework and get to know the local real estate market. The agent or broker you are working with will be able to provide you with current information about the area as well.

Ask around. These days, people are turning any situation into a networking opportunity, so be sure to take advantage of those around you when looking for a rental property. It doesn’t hurt to ask friends, family, business owners and individuals who live in the area whether there is anything available or if they know of anyone who may be leaving the area at some point. Initiating this dialogue will keep you top of mind when something does come along.

Don’t settle. Just like you wouldn’t settle if you were in the process of buying your primary residence, it is important to treat the rental property search the same way. It may take a while to find the perfect rental location, so be patient with the process.

Ask for comparables. Your agent or broker can provide you with information regarding comparable properties in the area. It is important to take notice of the rental income, sales price, square footage and other relevant information to be sure you are getting a good deal.

September 30, 2010 was a big day for anyone in California short selling property. On that day, Governor Schwarzenegger signed into law SB 931, will take effect on January 1, 2011 and will be codified in the California Code of Civil Procedure Section 580e, what we commonly refer to as the “anti-deficiency” statutes. This is an important win for upside-down owners.  For the last few years, the question has been: what is the deficiency liability following a short sale. This statute answers it in part.

The new 580e states in part: “No judgment shall be rendered for any deficiency under a note secured by a first deed of trust or first mortgage for a dwelling of not more than four units, in any case in which the trustor or mortgagor sells the dwelling for less than the remaining amount of the indebtedness due at the time of sale with the written consent of the holder of the first deed of trust or first mortgage. Written consent of the holder of the first deed of trust or first mortgage to that sale shall obligate that holder to accept the sale proceeds as full payment and to fully discharge the remaining amount of the indebtedness on the first deed of trust or first mortgage.”

What this new law appears to mean is this: if you complete your short sale on your residential property, there will be no deficiency obligation on the first mortgage. Unlike the existing Section 580b which only protects borrowers with “purchase money loans” on their primary residence, the new 580e catches all first loans on all residential properties regardless of whether they have been refinanced or not. While there are some ambiguities, the statute states that there will be no deficiency for any note secured by a first deed of trust or first mortgage. By writing the statute with such broad language, it reasonably should cover both residential investment property as well as refinanced first loans. Essentially, what the new 580e does is provide the same anti-deficiency protection that Section 580d currently provides following a Trustee Sale.

While this is good news with respect to first mortgages, the statute has no effect on liability regarding junior loans (seconds, thirds, HELOCs, etc). Sellers will still need to work with and negotiate with their lenders on obtaining a release of liability from the juniors. However, this is a step in the right direction. The majority of time, the first loan is the biggest loan and the biggest worry. California has now provided the assistance and tools needed to deal with the deficiency on the first.

The information presented in this Article is not to be taken as legal advice. Every person’s situation is different. If you are upside-down on your loan(s), and considering a short sale, get competent legal advise in your State immediately so that you can determine your best options.

If you have specific questions about your liability in California or about short sales, foreclosure, or any legal issues, feel free to contact me at kbdunnagan@bpelaw.com or contact Steve at sjbeede@bpelaw.com. We offer a $200 flat fee consultation to evaluate your liabilities and strategize a resolution. This can be done in person or by phone. If interested, please call us at 916-966-2260.

RE/MAX Gold is the #1 Real Estate Company in California.  I would love to speak with you regarding increasing your business and bottom line with the largest Brand in the world.

For a confidential interview, call me directly at: 916-715-9444.

There is a great reason why REMAX leads in transactions.  It is the brand that is built with great employees!  We make sure that when you see the REMAX brand that you will get the very best worldwide.  Now lets talk the Sacramento area…REMAX GOLD is the place to be to make your dreams in Real Estate come true.  With the backing of the brand, great support through tools, education and management you have no option but to succeed.

Let me explain…give me a call!

Real estate has been on a roller coaster headed south for the past three years as we have watched our economy take a nose-dive right into the worst recession since WWII. You’ve watched all the depressing news shows and read all the stock reports, and you think to yourself like I do, “What in the world can I do about all this?” Well the truth of the matter is there has never been a better time in history to buy a house in the United Sates, especially if you are a first time buyer or you are not selling the house you’re in.

Buying a house in Sacramento, Ca. might be the smartest thing that you do for yourself and your family during these down times. It is unfortunate that so many people have had to foreclose and loose their homes, but this could turn out to be an advantage for those in the market to buy. Sacramento is a beautiful city with everything a big city has to offer. It is centrally located just an hour from the mountains and three hours from the beach and because Sacramento is such a large city, you’ll find many houses at phenomenally low prices that are in short sale or foreclosure. Visit your favorite real estate office and have them print out a list and then take a weekend and check some out. You are going to be pleasantly surprised at the incredible savings when buying a house in Sacramento, CA. this year.