Are you struggling with your  mortgage payments, facing foreclosure,  feeling frustrated and overwhelmed?  There have been a lot of ways to avoid foreclosure of your property, however, there are some new programs that Fannie Mae is proposing that may be welcome news to the many people facing foreclosure. The new program would enable home owners to remain in their houses and rent it back. Instead of the property languishing on the market and homeowners trying to find a place to live, they will be able to stay in their homes. This process is known as deed in lieu, of foreclosure. This means that the lender will own the property but  will rent it back to the homeowner.

In the 1970′s, England faced a similar wave of foreclosures. They were able to climb out of the foreclosure pit, and, still have some income from property owners who faced catastrophic situations, by leasing the property back.

There are websites to visit to find out more about this program, one of them is, knowyouroptions.com., which will give you information about Fannie Mae loans and available programs.

While there are many sites that offer help, there are also many scam artists preying on the public.

Here are a few hints that should be a red  flag that you are not dealing with a reputable person who is truly looking out for his clients best interest.   Anyone who requires any type of prepayment, and promises immediate relief.  Anyone who suggests that you redirect your mortgage payments to them, instead of making them to the mortgage company.   Anyone who suggests you sign over the title of your property to them. Any one guaranteeing a loan modification.

Don’t be one of the many who in desperation fall victim to the unscrupulous!

Foreclosures are once again in abundance in Agoura, and rentals are in demand. Homeowners who have lost their homes in a foreclosure are looking for rental properties and inventory is low.

There are 100 homes in the 91301 zip code that are in pre foreclosure, bank owned or slated for auction. However, there are 23 active listings for rentals of single family residences, town homes, condominiums and apartments. Of the 23 active listings 6 are high end properties with rents at $5000-$18000 per month. People who have a foreclosure on their credit record have low FICO scores and many landlords are looking for good credit. Some properties are on the market for months, while landlords try to find the right tenant.

What are some of the ways prospective tenants can be more desirable to landlords. Firstly, having a history of stable employment for many years shows landlords that although the credit record may not be the most desirable, a steady income shows they are able to pay the rent. Another way is to offer 2-3 months rent in advance. The security deposit that  landlords are asking for can only be equal to two months rent by law. Having someone cosign to guarantee the lease is another option.

Many people are facing hardships and while many  move to more affordable areas, there are  those who have few choices.

I would welcome your comments and experiences to share with those who are in the process of trying to reestablish themselves and provide for their families.

Information is deemed reliable but not guaranteed.

Agoura Hills is home to incredible weather, Hollywood celebrities, and fun outdoor activities. You can go mountain biking in Cheseboro Canyon and discover the incredible oak canopy or take a hike in Malibu Creek State Park. The park is best known for the place where Planet of the Apes and M*A*S*H were filmed. The Rock Store, situated on Mulholland Highway in Agoura, is  one of the main attractions. It is a building made entirely out of volcanic rock, which had been a stagecoach in the 1910′s. Ed and Vern Savko have owned it since 1961.

The “Rock Store” is a landmark institution for motorcyclists and bicyclists, who are drawn,  to the windy canyon roads and, of course, the opportunity to test their riding skills.

Among the attractions are the rustic settings, hundreds of bikes to look at and the food and drinks, but mostly a hang out for the who’s who of the motorcycling world. The Rock Store is the most famous motorcycle stop in Southern California, if not the world, and has been featured in many commercials, films, music videos, television productions and magazine photos.

On any given weekend you can stop by and chat with celebrities who frequent the Rock Store. There is always the interest of Jay Leno and ”what is he going to ride up in today?”  Jay enjoys bringing up any one of his latest toys so that everyone can see it.

Arnold  Schwarzenegger often pops in before spinning off into the canyons. Matt LeBlanc, Tommy Lee, Harrison Ford, Peter Fonda can be spotted on the patio hanging out with “friends.”

Take a spin to the Rock Store and see “The Bikes” and you never know which celebrity will pop in.

 Although the real estate market has taken a licking this year, some people still survived the mortgage crunch and  were able to refinance at an all time low interest rate. At this time of  year inventory becomes less and people tend to wait until after the holidays to list their homes or start searching for a property. Home prices in Agoura did not escape the downward trend but the number of transactions shows that people love to live in Agoura and it is still one of the most desirable areas.  During the challenging economy,  Agoura maintained a balanced budget without cuts to programs and services. The shops at Oak Creek opened on Canwood street. The Reyes Adobe overpass construction is in progress.  However, commercial real estate continues to slump and office vacancies remain high.   

We look  forward to the future with hope and optimism.   I extend my Best Wishes to all for a Wonderful Holiday and a Happy, Healthy and Prosperous New Year.

What is green architecture?  Green architecture refers to creating or restructuring buildings and houses so they have minimal impact on the environment. There are a number of approaches to green construction, most of them involving the recycling of existing resources along with the efficient use of environmentally friendly systems to provide water and power.  Building materials used in the construction of these buildings and houses do not pose a threat to the surrounding environment. In many cases, this means using building materials that are composed of organic compounds rather than synthetic. Building materials may be wood or bricks harvested from a building that is scheduled for demolition. Elements of green design are strategic placement of windows, planting of trees that create shade in the summer and allow sunshine and warmth to enter the building or house in the winter.  As more people have become concerned about the wise use of the planet’s resources, the concept of green architecture has gained in both acceptability and interest.

In Agoura Hills the Summit shopping center on the corner of Lost Hills  and Agoura Road is the City’s first LEED  (Leadership in Energy and Environmental  Design)  Silver commercial development since the “Green Buildings” ordinance went into effect 5 years ago.

As for residential homes the government is offering grants to install solar panels for harvesting the sun’s energy and reducing the need for power.

Trying to sell your home on your own means trying to do by yourself what real estate professionals do every day. 

What does “For Sale By Owner” mean?

• Price and position your property in the marketplace
• Professionally market your home online, direct to buyers and exstensively to the network of local real estate professionals
• Manage showings, meet buyers, conduct open houses
• Handle paperwork, disclosures and other legal issues
• Help potential buyers obtain financing

          What sellers who sold their homes did not realize….

• 49% of sellers who sold their own home say they “did not want to pay a commission” or fee.
• 26% sold their home to a friend or relative
• 11% were contacted directly by a buyer
• 4% did not want to deal with an agent

Selling your own home usually does not result in the best price. The median selling price of FSBO was $172,000 compared with $215,000 for agent-assisted home sales.  Sellesr who “did it themselves” realized a 20% lower sales price.

Major Problem Areas for FSBOs

• Many FSBOs are not prepared for the complexities of the real estate transaction. As a result, they often lose potential buyers and valuable marketing time.
• They may also face certain risks with respect to paperwork and legal issues.
• 15% said they understood the paperwork involved
• 15%said they were able to set the right price in the marketplace
• Only 5% could help buyers obtain financing
• 13% said they sold within the length of time they had planned on
• 5% said they had enough time to devote to all aspects of the sale

Understanding the limitations of “For Sale By Owner” is crucial  in today’s marketplace.

Source: 2009 Profile of  Buyers and Sellers, National Association of Realtors (NAR) research

It seems that everything we read and hear is fodder for doom and gloom. The “Mortgage Meltdown”  is coming, home prices will fall even more, obtaining a mortgage will be next to impossible. While this may have some truth to it, there is an upside.

There are many reasons to buy now and first time home buyers have an even greater advantage. They do not have to sell their existing home to buy another one. Mortgage rates are at record lows, there is about a one year inventory of homes, with some more foreclosures still expected.

First Time Buyers can buy a property in Agoura Hills and pay about the same monthly amount as for a rental.  They can save on taxes,  and have a forced savings with a portion of the monthly payment going towards the equity. Over the years, appreciation outpaces inflation.

Agoura Hills, has lots to offer. There are new strip malls opening on Canwood Street and Lost Hills Road. There are specialty shops, restaurants, and gourmet food shops as well as the upscale fast food and familiar markets. There are farmers’ markets in many areas of Agouti Hills. These farmers’ markets offer fruits and vegetables, in season,  picked the same day, organic foods, baked goods and much more. The locavores definitely will find Agoura Hills farmers’ markets have great varieties and are open in different locations during the week as well as on the week ends.

Agoura Hills, a great place to buy today, and tomorrow a great time to own.

Agoura Hills is the gateway to the Santa Monica mountains. A national recreational area, renowned for its best walking, hiking and bicycle trails, where families can pursue many different outdoor activities.  Agoura Hills is a family friendly safe and secure community with many parks that offer team sports such as soccer, football, cricket and many others to young athletes. Schools are part of the The Los Virgines Unified School District, which has a reputation for academic excellence.

Interest rates being at an all time low, makes purching a home,wether a condominium, townhouse,  single family home or equestrian property more affordable. In Agoura Hills, as well as many other parts of California, adjustable rate mortgages are renewing and many homeowners who are having financial difficulties will be considering a short sale as an option. These properties are being sold at approximately 15%  below regular sale prices. Although, most often, these homes are sold in the condition they are in, there are great buys.

Having up to date information about what the real estate market, in Agoura Hills, is offering at this time is paramount, if you are considering buying or selling.

What do you  think the majority of home buyers today are looking for when they are considering a move to, or in Agoura Hills.

Although the economy continues to struggle, house prices have risen due to the low interest rates. In Agoura Hills, as in other parts of L. A., buyers can afford to pay more for a home and still have the same monthly payments as they did a year ago. The high demand for homes below $500,000 has caused homes in this price range to appreciate in the last twelve months. Low rates and low prices makes this an ideal time to buy.

According to the L.A times,  foreclosure rates among homes valued at 1 million  and more is increasing in Agoura Hills, as well as other parts of L.A. The Wells Fargo party house that was selling at 21.5 million last year sold this month for 14.95 million.  The number of  Bank Owned properties in the over  1 million range has tripled in the second quarter of this year. The rumored mortgage meltdown may be on its way.

The total number of sales in Agoura Hills in the month of June totaled 19, which is down 32% compared to the transactions recorded in May 2010. During a time of prosperity or hardship sales volume can occur. It is important to have as much information as possible whether buying or selling in Agoura Hills or elsewhere.

The above information is deemed reliable but is not guaranteed.