How Did I Ever Live Without DocuSign - Electronic Signatures?

Seriously, how did I just recently discover this priceless tool. You don't have to be in real estate or even be a client to realize the importance of this product. DocuSign is recognized by financial institutions, government agencies, and more.



It not only saves time and money (since it cuts down on driving around, overnighting important documents, etc.), it's as GREEN as it gets. No paper! Everyone signs the document electronically via email and one digital PDF is saved. You can print it or simply keep it on your computer and storage device.

I've said it once... and I'll say it again... how-How-HOW did I ever live without this???

Brought to you by Los Angeles Realtor Gerry Moylan

Should I Buy? Can I Buy?

Do you want to buy a house or condo? Maybe a multi-unit? The answer is simple. It's totally up to you. Yes or no. Once you make that decision, the question is - Can you afford it? If yes, and if it's a fair price... then YES you should buy. Don't wonder what everyone else is doing. When you follow everyone into the real estate market, you end up behind them.

The worst is over. Property values will not drop much lower than where they are at today. So the longer you wait, the more likely you are going to buy during the upswing - which means you will be buying at a higher price than those who are buying now.

Bottom line: You can either afford it and be comfortable buying today. If not, don't buy. Call Gerry Moylan, Realtor, today to evaluate your real options 323-528-9989.

Brought to you by Los Angeles Realtor Gerry Moylan

CA Homebuyer Tax Credit Running Out...

The Franchise Tax Board (FTB) announced today that it has received applications claiming 80 percent of the State’s First-Time Buyer Credit.

“The time to utilize this credit is definitely running out,” said State Controller and FTB Chair John Chiang. “Any taxpayers interested in this program should work with their mortgage professional to apply as soon as possible.”

As of June 15, 2010, FTB has estimated receiving more than 15,000 applications claiming more than $78 million. Because many of these applications are duplicates or invalid, FTB plans to accept at least 28,000 applications to ensure all $100 million is credited.

FTB will announce the cut-off date on its website giving at least 24 hours notice for applicants to fax their documentation. The credit will be allocated on a first-come, first-served basis using the date and time stamp on the fax. But, submission before the cutoff does not guarantee a credit; FTB will stop allocating credits once the $100 million is exhausted.  

The First-Time Buyer Credit is expected to assist roughly 17,500 qualified buyers who purchase a qualified principal residence. A first-time buyer is someone who did not own a principal residence for the preceding three years. The home must be purchased (close escrow) on or after May 1, 2010. The buyer must reside in the home for at least two years immediately following the purchase date. This credit is equal to the lesser of five percent of the purchase price or $10,000.

Brought to you by Los Angeles Realtor Gerry Moylan

Something BP Doesn't Want You To See

Brought to you by Los Angeles Realtor Gerry Moylan

This I Like... That Not So Much

Feeling I need to rant a little here. Okay, so here's what I like right now... The band Phoenix. Actually, I've liked them for a little while now, but they continue to grow on and inside me. They deserve every good thing that comes their way. I noticed they are getting a lot of airplay with "Lisztomania", which is one of my favourites from their latest album "Wolfgang Amadeus".

On the other hand, I just don't get Lady Gaga. Fine, she's great at marketing and being different. So is every other freak I've ever known. Her music is not melodic, and I'm just irritated by her.

On TV, LOVED-loved-loved "LOST". And like a good book it had an ending so onto the next. I will miss it like I still miss "Six Feet Under" and "The Sopranos". But the good thing is we can revisit whenever we feel like it. Still love my reality shows, including "The Deadliest Catch" (can't get enough of it and was very sad at the passing of Captain Phil) and all of "The Real Housewives..."

Very hard to think of the last good movie I saw. "The Road" was amazing and that was months ago. You should rent that movie, if you haven't seen it. Just a work of art! Still LOVE Annette Bening - can't wait until she comes out in something new - that will be a good movie.

Won't catch me dead going to see "Sex In The City". Hi, let's do a TV series, then when it gets tired just rehash the same plot and story lines as we age ungracefully and turn them into movies... one after the other...Yeah, we get it. You like shoes. It's so ... not interesting.

I'm annoyed at gay people wanting to be like straight people. You're not. You are more special - keep it that way. There are legal ways to protect your rights, provide for your family, etc. Don't rely on those you want to be like, because more than half of them are racist, hateful bastards.

Still love technology a lot. It's moving at an incredible pace lately - I feel we are truly witnessing the most intense technology movement in the history of the world. Seems like there's something new every week. Where would we be without Twitter, Facebook, Apps?

Beagles rule.

Greg Norman wine is very good - buy it at your local market. There's a California variety and an Australian. Yes, Greg Norman of golfing fame. Yum!

Meg Whitman needs a new hairdo. For someone who is apparently not very pro-gay she's looking kinda LEZBO.

Love creative people. Have no time for robots who listen to, read, watch, and eat whatever they think is "in", rather than venturing out and discovering things for themselves. Life is too short. Get out there and discover it.

Bye...

Brought to you by Los Angeles Realtor Gerry Moylan

So You Want To Buy A Foreclosure?

Brought to you by Los Angeles Realtor Gerry Moylan

How to buy a foreclosure
Many buyers, especially first-timers, hope to purchase a foreclosed property at a bargain price.  While purchasing a foreclosed home can be a wise choice for some buyers, it is important that buyers understand the differences in buying at different stages of foreclosure and be prepared to take on the challenges typically associated with each.

MAKING SENSE OF THE STORY FOR CONSUMERS

• There are three basic stages of foreclosure in California: Pre-foreclosure, trustee’s sale, and repossession, often called an REO or real estate owned by the bank.
• Pre-foreclosure homes are in the foreclosure process, but have not yet been auctioned.  Owners of pre-foreclosed homes often try to sell the properties because they are “underwater,” meaning they owe more on the mortgage than the home currently is worth.  Many homeowners attempt to sell via short sale, where the lender must agree to accept less than the amount owed on the mortgage.  Buying at this stage of foreclosure often is a complicated and slow process. However, buyers of pre-foreclosed properties often are given the opportunity to inspect the home prior to purchasing, whereas this is not always the case when buying at other stages of foreclosures.
• The second basic stage of foreclosure is the public auction at a trustee’s or foreclosure sale.  Homes in this stage often are well priced, but also come with challenges to buy.  These homes may not be available for inspection and buyers may later discover the property needs numerous repairs.  As a result, many of the homes at auction are purchased by investors and contractors who have experience working with homes needing numerous repairs, or taken back as REO by the foreclosing lenders.
• If a home does not sell to a third party at the trustee’s auction, the bank takes the property--the final stage of the foreclosure process. Although homes in this stage typically do not offer buyers the best prices, buyers generally can perform a thorough inspection of the property prior to closing.

Homes Sales Are Up!

Brought to you by Los Angeles Realtor Gerry Moylan

According to the California Association of Realtors (C.A.R.) March median price increased 20.8 percent; home sales increased 2.5 percent

Multimedia:
.  Click here to view Unsold Inventory by price point.
·  Click here to view a data table comparing current prices with trough prices in areas throughout the
   state.


Quick Facts:
.  Existing, single-family home sales increased 2.5 percent in March to a seasonally adjusted rate of
   516,590 units on an annualized basis compared with March 2009.

.  The statewide median price of an existing single-family home increased 20.8 percent in March to
   $301,790, compared with March 2009.

.  C.A.R.’s Unsold Inventory Index fell to 5 months in March, compared with 5.6 months in March 2009.

LOS ANGELES (April 22) Home sales increased 2.5 percent in March in California compared with the same period a year ago, while the median price of an existing home rose 20.8 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

“The end of the federal tax credit on April 30 will remove some urgency from the market, but is not likely to derail current market trends as favorable prices and low mortgage rates continue to attract buyers and investors,” said C.A.R. President Steve Goddard. “The March year-to-year median price gain of 20.8 percent was the largest in more than five years. With the number of homes for sale in the state expected to remain lean, gains in the statewide median price may well outpace the nation going forward.”

Closed escrow sales of existing, single-family detached homes in California totaled 516,590 in March at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 2.5 percent from the revised 504,200 sales pace recorded in March 2009. Sales in March 2010 decreased 2.5 percent compared with the previous month.

The statewide sales figure represents what the total number of homes sold during 2010 would be if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The median price of an existing, single-family detached home in California during March 2010 was $301,790, a 20.8 percent increase from the revised $249,790 median for March 2009, C.A.R. reported. The March 2010 median price increased 7.8 percent compared with February’s $279,840 median price.

“While the federal tax credit has helped drive sales, near record-high affordability resulting from current prices and low mortgage rates also has impacted the market,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Four years ago, the median price to household income ratio was at a record high of 10 to one. It’s now near a historic low of four to one.”

Highlights of C.A.R.’s resale housing figures for March 2010:

.  C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in March 2010 was 5
  months, compared with 5.6 months (revised) for the same period a year ago. The index indicates
  the number of months needed to deplete the supply of homes on the market at the current sales
  rate.

· Thirty-year fixed-mortgage interest rates averaged 4.97 percent during March 2010, compared with
   5 percent in March 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged
  4.20 percent in March 2010, compared with 4.86 percent in March 2009.

.  The median number of days it took to sell a single-family home was 39.2 days in March 2010,
   compared with 48.5 days (revised) for the same period a year ago.

Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.

In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 230 of the 357 cities and communities reporting showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)

Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for March may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through C.A.R. Online at http://www.car.org/marketdata/historicalprices/2010medianprices/mar2010medianprices/.

.  Statewide, the 10 cities with the highest median home prices in California during March 2010 were:
   Los Altos, $1,476,500; Manhattan Beach, $1,340,000; Palo Alto, $1,264,000; Calabasas,
  $1,260,000; Newport Beach, $1,102,250; Palos Verdes Estates, $1,017,000; Mill Valley, $910,000;
  Rancho Palos Verdes, $878,500; Los Gatos, $869,000; and Cupertino, $865,000.

.  Statewide, the cities with the greatest median home price increases in March 2010 compared with
   the same period a year ago were: Pittsburg, 42.3 percent; Arcadia, 40.2 percent; National City, 37.7
  percent; Auburn, 34.1 percent; Lodi, 33.3 percent; Richmond, 30.4 percent; Placentia, 29.9 percent;
  Newport Beach, 29.7 percent; Novato, 28.8 percent; and Petaluma, 27.7 percent.

Leading the way...^® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS^® ( www.car.org) is one of the largest state trade organizations in the United States, with nearly 150,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.