FORECLOSURE ALERT: As our foreclosure students know, there is a pathetic Civil Code Section 1695 that affects foreclosure sales in California. If a real estate agent has an investor client interested in a one - four owner-occupied property that has a Notice of Default filed, there are many problems. First, the owner must be given a written five-business day right to cancel and be told in 12-point type that no documents can be signed during that period. The written contract for sale must be very complete in 10-point type and be in the language in which the sale was negotiated. Even if you follow all the rules the sale can be rescinded up to two years from date of recording if unconscionable advantage had been taken of the seller. Finally, the agent must show written proof to the seller of a valid real estate license plus the agent must make a written statement that he or she has a bond equal to twice the value of the property.

Setting the right price is an important first step in the process of selling a home. Is it necessary to spend $200 to $400 for a professional appraisal of your property before placing your home on the market?

A professional appraiser's opinion of a property's market value is based on the recent sales of similar homes in the neighborhood, and on the square footage and condition of the property. Different appraisers might come up with different figures. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property.

An alternative to a professional appraisal is to ask a professional real estate agent for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours. Real estate agents may provide this service with no charge or obligation. If you are still unsure of the value of your home, you may wish to pay for an appraisal.

The market is not hot. But buyers are waiting for the cold market. Let me say that the cold market is not here or coming. Now is the time to buy. Sellers are opposite from the buyers. They want more and the buyers want less. The gap is large and so the market is flat. The best thing I can offer is that there are peolpe who watch things happen and some wait for things to happen. I will only work with people who make things happen. If your buying get to it. I will show you how to make things happen. And is your a seller. We can make things happen. I have been here before. Let our 30 years of experience work for you. http://www.paulandgloriaconti.com

The trade deficit for November declined by 1% to $58.2 billion, the lowest level since July 2005, the Commerce Department said January 10. Despite the improvement, the total 2006 trade deficit is on pace to reach $765.4 billion (December's trade numbers must still be tallied), compared to $716.7 billion in 2005.

Led by robust holiday shopping, retail sales increased 0.9% in December, the strongest showing since a 1.4% increase in July. For 2006, retail sales rose by 6%, a solid showing, but down from a 6.9% increase in 2005.

Despite improving retail sales, U.S. wholesale inventories leapt by 1.3% in November, triple the 0.4% rate of increase predicted by analysts. A broad-based accumulation of stockpiles ranging from cars to farm products to petroleum helped fuel the increase.

Following a dip in interest rates for the first time in five weeks, U.S. mortgage applications soared 16.6% in the first week of the new year (through January 5), the Mortgage Bankers Association (MBA) reported January 10. The MBA's survey covers approximately 50% of all U.S. residential loans.

The number of newly laid-off workers filing unemployment claims fell by 26,000 to 299,000 for the week ending January 5, the Labor Department said January 10. It marked the first time jobless claims had fallen below 300,000 since the week of July 22.

This week look for updates on the Producer Price Index on January 17 and the Consumer Price Index on January 18.

Here’s what’s new in the world of real estate: The real estate market activity during this month seems to be about the same. We were at a meeting with the economic advisor with the California Association of Realtors last week. According to her the market will be the same next year. Still lower interest rates and the prices are leveling off. The prices will not come down as everyone thinks. It will be business as usual. The market in Santa Clara County is off by 19% not bad compared with the Sacramento being off a whopping 48%. Potential buyers shouldn’t wait. With a strong buyers market, combined with nearly all-time low mortgage rates, now’s the time to get a great deal on your dream home. And there’s never been a better time to “cash-out” on your home if you’re thinking of moving. The market is not hot or cold its just taking a little longer to sell! If your or anyone your know has plans to sell give us a call and we can tell you the best way to get the most money for your home.
How To Make Yourself And
Your Family “Lightning Safe”

It can happen in any season. And its effects are potentially deadly. In 1998 alone, 44 reported lightning fatalities and more than 6,000 lightning injuries occurred in the United States.

Most people only associate lightning with summer thunderstorms, but lightning can occur any time of the year, including winter. More than 40 percent of deaths caused by lightning are in open areas; 18 percent occur under trees and 14 percent on boats.

The Insurance Information Institute says more than 21 percent of all homeowners’ insurance losses result from lightning and resulting fire. Here are a number of things you can do to protect yourself and your property from the devastating effects of lightning.

If you are outside:

1. Seek cover in a car, protected building, or find the lowest elevation spot in your surrounding area. Lightning usually strikes the highest point of the local area. If there is no shelter, stay away from tall objects. You’re safer crouching down in an open field than you are under a tree.

2. If you are in the water, get out immediately! If you are boating, get to shore. If that’s impossible, go inside the cabin or lie on the bottom of the boat, and don’t touch metal objects.

3. If you’re golfing or fishing, drop any metal clubs and rods. Do not stand in a small, isolated shed or other structure in an open area. Move away from a motorcycle, scooter, golf cart, or bicycle. Stay clear of wire fences, clotheslines, metal rails, or pipes.

4. If you feel your hair standing on end or your skin tingling, lightning may be about to hit you. Drop to your knees and make yourself into the smallest target possible.

5. Don’t assume you are safe if a thunderstorm appears to be far away. Lightning can bolt out of the edge of a storm and strike victims even if it isn’t raining yet. In fact, lightning has been known to strike from as far as 20 miles away!

If you are inside:

1. Do not use the telephone during a storm. Also, shut off electrical appliances such as TVs and stereos. Electric current cannot only surge through electrical outlets, but through cable TV and stereo wires.

2. Shut down your computer, but don’t stop there. Most lightning strike damage to computers doesn’t come through the electrical wires, but through the phone lines. And most surge equipment is helpless against it. If your computer has a modem, unplug the phone connection from your computer.

3. Stay away from open doors and windows. Also, stay away from stoves, metal pipes, and sinks. And since water conducts electricity, never take a bath or shower during a storm.


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Bumper Stickers Seen On Cars…
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