Stop the Ants

Natural deterrents to ants include dry Cream of Wheat, which they cannot digest and is lethal to them, as well as powdered borax mixed with maple syrup (don’t use the latter if you have children or pets). If the aim simply is to deter, but not kill, then sprinkle the substances they don’t like to cross, such as ground black pepper, chalk, or cinnamon, near doors.

Freddie Mac: Mortgage Rates Hit Low For Year

Freddie Mac Says Average Rates For 30-year Mortgages Fall To 4.72 Pct., Just Above Record Low

Rates on 30-year fixed mortgages fell this week to the lowest level of the year and were barely shy of the all-time low.

Mortgage finance company Freddie Mac says the average rate sank to 4.72 percent, down from 4.79 percent last week. It was just above the record of 4.71 set last December.

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Plenty of Reasons to Buy a Home Even After the Tax Credit

Even though the home buyer tax credit expired on April 30 and won't be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but they may not be around forever.      

"The home buyer tax credit was just one of many factors motivating Americans to buy homes," said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. "But buyers can still take advantage of today's low interest rates and competitive prices to get a home they may not have been able to purchase just a few years ago."  

Besides mortgage interest rates that have been hovering at near-record lows, homes in many markets have become more affordable. Prices have moderated from the highs of the housing boom that occurred in most of the country, especially in major markets where they had increased significantly.  

Today's new homes are also built to be much more energy efficient than homes constructed a generation ago, making them more affordable to operate. New homes are designed to support modern lifestyles with open floor plans, flexible spaces, improved safety features, and low-maintenance materials.  

Consumers who are thinking about buying a home should not count on interest rates or prices staying at current levels, however. Mortgage rates are sensitive to market conditions, and even a slight increase can push monthly payments beyond a family's budget. As the country recovers from the recession and people stabilize their financial situations, NAHB economists expect that home prices will begin to increase by 2011.  

NAHB's home buyer brochure "Opportunity Knocks for Home Buyers" describes many of the opportunities in today's market, as well as the long-term financial benefits of homeownership. It provides examples of how interest rates affect monthly mortgage payments and the typical federal tax savings over the first five years of homeownership. The brochure can be downloaded from NAHB's web site at: www.nahb.org/homebuyerbrochure.   

The home buyer tax credit is still available for eligible home buyers who had a signed sales contract by the April 30 deadline and who close by June 30, 2010, as well as for qualified members of the military, foreign service and intelligence communities, who have until April 30, 2011, to sign a contract.

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For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Unemployed homeowners could get a break on their
mortgage payments

In an effort to assist unemployed homeowners in avoiding foreclosure while looking for a job, the Obama administration may be offering some enhancements to its Home Affordable Modification Program (HAMP). The government would set up new guidelines that will force lenders participating in HAMP to offer forbearance.

Forbearance means that the mortgage servicer will defer a borrower’s payments until a later date. The amount deferred could be all or part of one or more payments that are due. Lenders would provide a mortgage forbearance for a period of 3 to 6 months. Homeowners who are unable to find a job during the forbearance time frame may be considered for alternatives to foreclosure, including short sales and deed-in-lieu of foreclosure. However, foreclosure may be inevitable.


At the end of the forbearance period, borrowers who have found jobs, but whose payments are greater than 31 percent of their monthly income, would be considered for a permanent loan modification under HAMP. To receive permanent modification, homeowners must be current on their payments, provide documentation of qualifying income and meet all other HAMP underwriting requirements.

Eligibility criteria for the program are as follows:

• The homeowner must occupy the home
• The loan balance must be below $729,750
• The loan must have originated before January 1, 2009
• Request for assistance must be made during the first 90 days of delinquency
• Borrower must provide documentation that they are receiving unemployment insurance benefits

A date for implementation of this program has yet to be set. If you are unemployed and struggling to make your mortgage payments, it’s suggested that you contact your lender to discuss what assistance options may be available to you.



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For more information, you can visit my Web site or feel free to give me a call.

Tammy Vertrees, Paradise California Realtor

530-413-8383 Direct
530-872-5428 Office

www.TammyVertrees.com

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I specialize in representing sellers and buyers of residential real estate in Paradise, Magalia, Chico, Oroville, Gridley, Biggs, Durham and the surrounding areas.  I provide my clients with a strong level of comfort, powerful negotiation skills and use of the latest technologies.

Visit Tammy Vertrees on the web at www.TammyVertrees.com for real estate information and to view all available Butte County homes for sale.

© Tammy Vertrees 2010. All Rights Reserved.

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

What "Realtor" Means to You
by Carla L. Davis

If you are new to the real estate world, and many are, the process can be quite overwhelming. Application and loans. Meetings and Showings. The terminology alone can be enough to confuse even the most savvy of people.

You may hear people use the names "Realtor" and "real estate agent" interchangeably. But did you know that not all agents are Realtors®? Let's take a moment to find out what a Realtor® can offer you.

Yes, both "agent" and "realtors" are licensed professionals, but the term "Realtor" is a registered trademark which means that your agent is a member of the National Association of Realtors (NAR). Founded in 1908, this association has now grown to over 1 million members.

Each year your Realtor pays membership dues. These dues are well spent, as they go towards advocating for issues that matter to the association, as well as to economic and market research, helping Realtors understand their industry and improve their business, helping the public understand the value of working with a realtor, and of course, supporting Realtors at the state and local level.

Once a Realtor, an agent is able to access a wealth of statistical information about markets and sales, all of which can be used to your advantage during the home buying or selling process. They can look up information regarding your local community, even on issues such as zoning, schools, and utilities.

What else does working with a Realtor afford you? It ensures that your agent follows a code of ethics, the very one set down by the NAR. According to their website, realtor.org, "Realtors are pledged to a strict Code of Ethics and Standards of Practice."

Those principles, in basic terms, are:

• Loyalty to clients;
• Fiduciary (legal) duty to clients;
• Cooperation with competitors;
• Truthfulness in statements and advertising; and non-interference in exclusive relationships that other REALTORS® have with their clients.

These agents also have access to some of the best properties. Through their MLS system on Realtor.com, you and Realtors across the nation have access to listings from near and far, depending on your needs. The NAR notes, "Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your Realtor to find all available properties."

And Realtors love their job. Testimonials taken from NAR's recent "I love being a Realtor" shows just that.

Realtor Julie Jacobson, Potosi, WI, "Being a REALTOR® has help my buyers and sellers to get better service and helps keep me up to date on the latest developments in the market place. As a REALTOR®, my network has grown and this helps expand my business."

Realtor Lisa Hamptom, Lancaster, NH, "I believe when consumers see the REALTOR® logo they know they are going to get great knowledge and service."

And finally, Realtors are known for customer satisfaction. An independent survey reports that 84% of home buyers would use the same Realtor again. That's a good track record in a market with millions of agents.

Published: May 27, 2010