Archive for August, 2010

The Road Map to Achieve Your Financial Future

backyard wealth real estate resource center

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LEARN what you MUST know

to make SMART investments.


Upcoming seminars at the Long Beach Real Estate Resource Center:

First Time Home Buyers Seminar
August 26, Thursday
7:00pm to 9:00pm

Multi-Unit Investing Seminar
August 28, Saturday
9:00am to 12:00pm

Creative Investing Seminar
August 28, Saturday

1:00pm to 4:00pm

Reserve your seat today and get a FREE gift!

Investment: $39 each seminar

Backyard Wealth Long Beach



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Government OKs $600 Million in Housing Aid for 5 States

good news headline
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The Obama administration plans to send $600 million to help unemployed homeowners avoid foreclosure in five states.

The Treasury Department said Wednesday that mortgage-assistance proposals submitted by North Carolina, Ohio, Oregon, Rhode Island, and South Carolina received approval. The states estimate their efforts could help up to 50,000 homeowners.

The administration is directing $2.1 billion from its existing $75 billion mortgage assistance program to a total of 10 states. Each state designed its own plan. Treasury approved money in June for Arizona, California, Florida, Michigan, and Nevada.

“These states have designed targeted programs with the potential to make a real difference in the lives of homeowners struggling to make their mortgage payments because of unemployment,” Herbert Allison, an assistant treasury secretary, said in a statement.

More aid to the unemployed is coming. The sweeping financial reform bill passed signed into law by President Barack Obama last month provides an additional $3 billion to help jobless homeowners pay their mortgages.

Of that money, $2 billion is coming from Treasury’s foreclosure-prevention effort. The rest is to be managed by the Department of Housing and Urban Development.

Source: Alan Zibel (HouseLogic.com)


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Low Cost Ways to Spruce Up Your Home Exterior

front door curb appeal
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Make your home more appealing for yourself and potential buyers with these quick and easy tips:


1. Trim bushes so they don’t block windows or architectural details.

2.
Mow your lawn, and turn on the sprinklers for 30 minutes before the showing to make the lawn sparkle.

3.
Put a pot of bright flowers (or a small evergreen in winter) on your porch.

4. Install new doorknobs on your front door.

5.
Repair any cracks in the driveway.

6.
Edge the grass around walkways and trees.

7.
Keep your garden tools and hoses out of sight.

8. Clear toys from the lawn.

9.
Buy a new mailbox.

10.
Upgrade your outside lighting.

11. Buy a new doormat for the outside of your front door.

12.
Clean your windows, inside and outside.

13.
Polish or replace your house numbers.

14.
Place a seasonal wreath on your door.



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Be Sure Not to Overlook These Items on a Final-Walkthrough

home inspection final walkthrough

[tweetmeme] It is an exciting time when everyone is ready to finally close the deal on your new home.

It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook for on your final walk-through.

Make sure that:

* Repairs you’ve requested have been made. Obtain copies of paid bills and warranties.
* There are no major changes to the property since you last viewed it.
* All items that were included in the sale price — draperies, lighting fixtures, etc. — are still there.
* Screens and storm windows are in place or stored.
* All appliances are operating, such as the dishwasher, washer and dryer, oven, etc.
* Intercom, doorbell, and alarm are operational.
* Hot water heater is working.
* No plants or shrubs have been removed from the yard.
* Heating and air conditioning system is working
* Garage door opener and other remotes are available.
* Instruction books and warranties on appliances and fixtures are available.
* All personal items of the sellers and all debris have been removed. Check the basement, attic, and every room, closet, and crawlspace.

Although you’re feeling the emotions and excitement of moving into your new home, be sure to stay diligent before the deal is sealed.  If something doesn’t seem right or you have additional questions, be sure to get them addressed.  You don’t want to be left with a costly issue after you move into your house, especially when it could have been taken care of before the close of escrow.

Investing in a home can be overwhelming.  There are many important factors to consider.  The best way to feel more confident during the home buying process is to gain the necessary knowledge.  Attend a real estate seminar in your local area.

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Hump Wednesday Funnies

open house real estate cartoon


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5 Important Factors that Decide Your Credit Score

credit report sign

Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage.

The following factors affect your score:

1. Your payment history.

Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe.

If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history.

In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have.

New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use.

Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.

If you feel you need some help with your credit score or would like to fix your credit report, it is best to consult with a specialist.  Find out your options before it’s too late.


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