Found a Great Deal on a Foreclosure! Still do an Inspection!

Housemaster, a home inspection franchisor, reports there are abundant opportunities for qualified homebuyers in the current real estate market - triggered by a 28% rise in foreclosure activity from last year. While President Obama's $75 billion loan modification and refinancing Homeowner Affordability and Stability Plan will help as many as 4 million struggling homeowners, it won't save everyone from foreclosure resulting in prime deals for qualified homebuyers.
There are many great deals to be had in the current environment, it is important to note that proper preparation is key to successfully navigating the foreclosure market. Working through the intricate foreclosure market will be less difficult for consumers that properly prepare for the process.
While lower asking prices draw potential buyers to these homes, each property has its own challenges that can come from abuse, neglect or deferred maintenance on the part of the previous owner. Consumers must do their homework to help them know whether a property is truly a ‘good deal.'"
A home inspection by a qualified home inspector can provide buyers with a comprehensive education on the home they are considering. Education is the key when buying a foreclosed property as it helps the buyer understand their options allowing them to get the best house for reduced costs and helps to avoid making potentially devastating financial mistakes.
According to a recent study conducted by HouseMaster, there are five main physical conditions that are typically found in a foreclosed property. They are: Moisture-related problems; defective gaskets, valves and hoses that are leaking or have the potential to cause destruction; vandalism, especially if the property has been vacant; insect and rodent infestations and blocked or damaged waste and sewer lines.
While now is a great time to buy for first time home owners however, property inspections are very critical in making the right investment and avoiding costly headaches down the road."
For more information, visit www.housemaster.com.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors

When Life Gives You Lemons...

Believe it or not there are a lot more uses for lemons other than in the kitchen or lemonade, the gift for its' many uses is in the natural acid found in the fruit. Here are a few...
•1) Antiseptic/Deodorizer: Lemon juice is a great choice for deodorizing counter, cutting boards, etc. The acid in lemon juice kills mold, bacteria and germs. (Be careful of granite or high end counters, as the juice could dull these surfaces).
•2) Microwave Cleaner: Put a couple of slices in a cup of water and boil. Use a damp cloth to wipe down; the lemon soaked steam will help you cut through the grease.
•3) Metal Cleaner: An acid like lemon juice works wonders for cleaning metals such as chrome, copper and brass. Mix lemon juice with salt for a bit of an abrasive.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Looking for Something New and Different to Spice up Your Live Space?

Looking for something new and different to spice up your live space? Perhaps by adding a multiuse "conversation piece", there will initiate a lively discussion at your next cocktail party. Here is a possible solution, California based Motorart is transforming furniture and using the most usual supplies...junk aircraft. The company buys up everything from World War II plane parts, fighter jets and even modern jet parts. They then transform them into furniture. Anything from desks, tables, couches, chairs, etc. It is referred to as "Industrial Chic". Furniture this year is flaunting their rivets, welds and mechanical origins. So I guess the old saying still rings true. One man junk is another mans treasure (or maybe in this case his coffee table).
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Could Proper Tire Pressure Save you Gas?

A resolution was adopted this week, by the Air Resources Board, requiring all auto repair shops to check the tire pressure every time drivers bring their vehicle in for repair or smog tests. According to board members, mandating properly inflated tires will reduce fuel consumption saving 75 million gallons of gasoline each year state wide. In additional, this will reduce green house emissions, hopefully making the air we breath just a bit cleaner.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Is there a Rainy Day in your Personal Employment Future?

Is there a rainy day in your personal job forecast? That wouldn't be surprising - not with unemployment rates in double digits in several states, 8.2 percent nationwide and widely expected to hit 10 percent or higher by next year.
So with all this uncertainty, who can think of buying a home???
Washington based The Rainy Day Foundation is now offering job-loss protection coverage and homebuyer financial counseling through approximately 100 builders and lenders across the country, plus two large real estate brokerages, according to CEO Rick Del Sontro
Here's how the Rainy Day plan works: Consumers purchasing homes through a participating builder, lender or realty agency can qualify for up to six months of mortgage payments - capped at $1,800 per month in some versions and $2,500 in others - if they lose their job during the two years following their closing. There is no direct cost to the buyer. The insurance coverage is underwritten by Virginia Surety.
Sound good? Want to know more?
For more info to go therainydayfoundation.org.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Going Green--By Order of the Law!

In San Juan Capistrano, four homes are currently being built with solar panels in order to be powered by the sun. These for homes are only a few of the first 1 million to be built by the year 2018, as part of the Million Solar Roofs law.

Some highlights of this law include:

Mandating that solar panels become a standard option for all new homebuyers, enabling new home buyers to choose to add solar panels to their new home while it is being constructed. The bill also directs the California Energy Commission to determine if and when solar power should be mandated on new construction as a standard, non-optional feature.

What do you think about the government stepping in to make solar panels a “standard option for all new homebuyers?”

Thank you for making me Your Orange County Real Estate Connection.

Best regards.

Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

This Month's Green Tips

*Test for air leaks near windows, doors, electrical boxes, plumbing fixtures, electrical outlets, ceiling fixtures, attic hatches and other locations where there is a possible air path to the outside. Be sure to caulk, seal or weather strip where needed.

*Manager the power on all computers and ensure that they are turned off every night. Note: Laptops use 90% energy than most desktop computers.

And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Energy Bills. How Can You Save Money?

With the hot summer month's right around the corner, many of us will be cranking up the air conditioning to fight the heat; however doing so can be very expensive. Here are a few tips to help slash your bill and help you save some money.
Keep A/C Filters and Coils Clean - Dirty air filters can reduce airflow, clean the condenser coil every two years and change filters monthly.
Use your ceiling fans instead of A/C.
Upgrade your windows. Replacing your single-pane windows with double pan windows can potentially save you 47% on your bill.
Unplug the old fridge in the garage. Refrigerators built in 1993 uses twice as much energy as newer models.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Why Water Conservation?

Water is an essential part of life. There are many uses. Growing food, keeping clean, hydrates our bodies etc. Water is constantly being cleaned and recycled through the earth's water cycle. However we use the planet's fresh water supply faster than it can be replenished. This being said it is important to conserve, for the earth, for your family and for the environment. A few water saving tips...
1) Take shorter showers.
2) Turn off the water when brushing you teeth.
3) Water your plants every 2-3 days.
4) Fix leaky faucets and/or toilets.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Get a CLUE!

The CLUE Personal Property report provides a seven year history of losses associated with an individual and his/her personal property. The following data will be identified for each loss: date of loss, loss type, and amount paid along with general information such as policy number, claim number and insurance company name.
Providing information to a potential buyer makes the home you are selling more attractive, and is to your advantage. More and more homebuyers are requiring home sellers to provide a CLUE report as a contingency to a purchase offer. By ordering the report at the time of listing, the smart seller and his/her agent are ready for the first potential buyer to walk in the door. At the same time, a potential buyer will achieve a greater comfort level when making an offer on a property for which the loss history is known.
Until CLUE reports are a standard disclosure in any home sale, here's how you can avoid a bad situation:
When Working With Sellers:
Ask sellers to order their home's CLUE report before listing the property. This will make them aware of potential problems in selling the home and will give them a chance to correct any wrong information in the report.
A clean CLUE report can be used as a selling point. Make sure potential buyers know that it's available for them to view.
Under the Fair and Accurate Credit Transactions Act of 2003, property owners can order one free report every year.
When Working With Buyers:
Make the purchase contingent on viewing a CLUE report, or on the buyer obtaining affordable insurance. Check with your state REALTOR® association or real estate commission to see if it offers a rider or an addendum that you can include with the contract.
Ask the buyer to apply for insurance immediately after a signed contract.
Buyers also should request a copy of their personal Insurance Scores, which also are often used by insurance companies to determine consumers' overall insurance risks and premiums. Learning what factors are used in calculating rates can help consumers reduce their insurance premiums over time.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Earth Day Resolutions. What can you do to help?

Earth Day is Wednesday April 22. This is the one day of the year that perhaps we can all be conscientious of the earth and the environment around us. Here are a few more easy tips you can do to help contribute to a better Earth.
•1) E-mail companies that send you junk mail and ask to stop.
•2) Cut old towels into washcloths or rags.
•3) Buy produce from local growers
•4) Switch to non-toxic cleaning formulas
•5) Recycle whenever possible
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

First Time Home Buyers? Could You be at the Advantage?

First time home owners may qualify for a tax credit if they a can answer yes to the following three questions.
1). Are you married and is your modified adjusted gross income less than $150,000?
2). Have you and your spouse had NO home ownership in the past three years?
3). Do you plan to stay in the new home for at least three years?
Even if you have owned a home in the past however, in the most recent three years you may qualify! In this economy it is important to know all opportunities that are out there and help our buyers take advantage whenever possible. It is our responsibility to help buyers understand how it works, what it means to them, and why they've got to "get off the fence" and take advantage of it now.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Earth Day Resolutions. What can you do to help?

Earth Day is Wednesday April 22. This is the one day of the year that perhaps we can all be conscientious of the earth and the environment around us. Here are a few easy tips you can do to help contribute to a better Earth.
•1) Keep you showers down to seven minutes.
•2) Create a garden that can be fertilized with your kitchen compost.
•3) Only run the dishwasher when full.
•4) Ride you bike, carpool or take mass transit
•5) Return your coat hangers to the dry cleaners.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Five Latest Signs of Market Recovery. Are we bouncing back?

With recent US government efforts to jumpstart the economy, real estate professionals should be prepared to get back into a market that will include a huge inventory, reduced prices and record-low interest rates.
Below are the five latest signs of recovery.
1. Recently, the Wall Street enjoyed the biggest four-week rise with DOW in more than 70 years. (Fortune Magazine, April 2009).
2. Mortgage applications increased by a record amount last week, spurred by the Federal Reserve's announcement that it would purchase mortgage-backed securities, and would be open to making further cuts in prime interest rates.
3. There has already been some positive news in the housing market. Home sales in some of the country's most affected regions have been recovering. According to DQNews.com, Southern California home sales stayed above year-ago levels for the eighth consecutive month in February as the median price ceased its month-to-month decline for the first time in ten months.
4. The recent personal income report was also stronger than expected. Personal income in January rose 0.4 percent, following a 0.2 percent decline in December.
5. The US Banks are also showing signs of recovery. Wells Fargo, U.S. Bancorp and TCF are enjoying rising share prices, suggesting better days ahead.
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

South Coast Plaza Celebrates 20 years of Gardens

When those of us who live in the OC think of South Coast Plaza, we generally do not think of beautiful gardens. We may think more of upscale shopping and a great Carousel in the middle of the mall where we can treat the kids to a ride. However, South Coast Plaza will be hosting a four day event, April 23-26th featuring garden designs, celebrating trends from the present, past and future. Parking and admission are free. For more information go to springgardenshow.com
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900

Newport Beach Film Festival. Are you ready for a break?

Newport Beach is hosting is' 10th annual Film Festival this month, featuring films from Sweden, France and Italy, and Australia. While Orange County is not entirely without cultural experiences, this festival encourages you to experience foreign films on the local screen. If you don't mind subtitles come on out and experience a movie or two like no other. Some of the films featured are
1) April 27th: from Autralia "Beautiful" .
2) April 28th: from France "Seraphine"
3) April 28th: from Sweden "Arn"
4) April 29th: from Italy "II Divo"
For more info go to: newportbeachfilmfest.com
And thank you for making me Your Orange County Real Estate Connection.
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors
(949) 753-7900