Newport Beach Homes for Sale

Etta new hang out watching the rain in Newport Beach

2012-02-13T11:44:00.000-08:00

Re: The Empire State Building: We Climbed It!

2012-02-12T19:24:00.000-08:00

Noooooooo!

Ashley Abercrombie

714.393.0484

Los Angeles

ashleymabercrombie@mac.com

ashley-abercrombie.com

On Feb 12, 2012, at 5:13 PM, Thomas M Abercrombie wrote:

Here's your next goal

The Empire State Building: We Climbed It!
SHAPE MAGAZINE | FEBRUARY 10, 2012
http://pulse.me/s/5RpWP

By: Danielle McNally I've run a marathon, so when I was invited to participant in New York Road Runners' Empire State Building Run-Up (a race to the... Read more

--
Want to read news on the go? Get Pulse, an awesome news reader for iPad, iPhone and Android. Its Free!

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

The Empire State Building: We Climbed It!

2012-02-12T17:13:00.000-08:00

Here's your next goal

The Empire State Building: We Climbed It!
SHAPE MAGAZINE | FEBRUARY 10, 2012
http://pulse.me/s/5RpWP

By: Danielle McNally I've run a marathon, so when I was invited to participant in New York Road Runners' Empire State Building Run-Up (a race to the... Read more

--
Want to read news on the go? Get Pulse, an awesome news reader for iPad, iPhone and Android. Its Free!

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

Buying Short Sale Properties with VA Loans

2012-02-11T10:23:00.000-08:00

VA loans can be used to purchase short sale properties as long as VA guidelines are met. Short sales are the result of a delinquent loan, and the borrower and mortgage servicer have agreed to sell the home at a discount to avoid foreclosure proceedings. Using your VA home loan entitlement for the purchase of short sale real estate can have its advantages and disadvantages.

PROS TO USING A VA LOAN FOR SHORT SALE PURCHASE:

Most short sale homes are offered for pennies on the dollar
Buyer can buy the discounted home with little or no money down

CONS TO USING A VA LOAN FOR SHORT SALE PURCHASE:

Offers can take a long time to process
Properties are sold “AS IS” and often need repair before closing

After making an offer on a short sale, the potential buyer may often wait 60 days or longer before the seller replies with an acceptance or counter offer. During this time, interest rates can go up or down. VA borrowers planning to purchase short sale real estate should prepare for the wait.

The VA will not guarantee a property unless it is in safe livable condition and its sale price justifies the insured value. Sometimes a short sale home will need repairs before it passes the VA appraisal/inspection. Because most sellers of short sale real estate offer the home “AS IS”, the buyer could end up paying for repairs to the home before he or she actually owns the property. This can incur some risk should the sale fall through.

Buying a short sale home with a VA loan can save the buyer money if he or she is willing to work a little harder and wait a little longer. The advantages of VA loans include:

· As little as zero cash down

· No monthly mortgage insurance premiums

· No penalty for early or pre-payment

· Competitive interest rates

· Up to 6% of closing costs and concessions may be paid by seller

· No additional credit underwriting required by VA for a Streamline refinance

More info about purchasing short sale real estate with a VA-backed loan can be obtained by contacting a qualified VA mortgage professional.

http://www.military.com/money/partner/home-ownership/buying-short-sale-properties-with-va-loans.html?ESRC=dod.nl

Good to live in Newport Beach Calif

2012-02-11T10:17:00.000-08:00

Etta and rose

2012-02-11T10:06:00.000-08:00

Irvine

2012-02-09T14:55:00.000-08:00

Mortgage Plan Gives Homeowners Bulk of the Benefits

2012-02-09T09:33:00.000-08:00

By NELSON D. SCHWARTZ and SHAILA DEWAN

After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly two million current and former American homeowners harmed by the bursting of the housing bubble, state and federal officials said in Washington on Thursday.

Enlarge This Image

Left, Mario Anzuoni/Reuters; Fred R. Conrad/The New York Times

The attorney general of California, Kamala Harris, left, and New York's attorney general, Eric Schneiderman.

"Money in lieu of criminal charges for bank fraud is never a good idea. Two thousand dollars is a crumb considering the pain and suffering that was caused by the banks."

It is part of a broad national settlement aimed at halting the housing market’s downward slide and holding the banks accountable for foreclosure abuses.

Under the plan, federal officials said, about $5 billion would be cash payments to states and federal authorities, $17 billion would be earmarked for homeowner relief, roughly $3 billion would go for refinancing and a final $1 billion would be paid to the Federal Housing Administration.

If nine other major mortgage servicers join the pact, a possibility that is now under discussion with the government, the total package could rise to $30 billion.

Because of a complicated formula being used to distribute the money, federal officials say the ultimate benefits provided to homeowners could equal a larger sum — $45 billion in the event all 14 major servicers participate. The aid is to be distributed over three years, but there are incentives for banks to provide the money in the next 12 months.

More than just an attempt to aid consumers and stabilize the housing market, administration officials cast the settlement as an effort to finally hold banks accountable for their misdeeds, more than three years after the mortgage meltdown brought on a full-scale financial crisis.

The deal announced Thursday is about “righting the wrongs that led to the housing market collapse,” said Eric H. Holder Jr., the attorney general. “With this settlement, we recover precious taxpayer resources, fix a broken system and lay a groundwork for a better future.”

Financial shares were mixed after the announcement, but most analysts said they considered the settlement to be good news because it removed one cloud hanging over the industry. They also said the five mortgage servicers in the agreement — Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — had already set aside most of the money.

Bank of America, which will pay the most as the nation’s biggest mortgage servicer, actually rose half a percent to $8.18 a share in late morning trading.

“I wouldn’t say it’s a panacea for the housing industry but it is good for the banks to get this behind them,” said Jason Goldberg, an analyst with Barclays.

Despite the billions earmarked in the accord, the aid will help a relatively small portion of the millions of borrowers who are delinquent and facing foreclosure. The success could depend in part on how effectively the program is carried out because earlier efforts by Washington aimed at troubled borrowers helped far fewer than had been expected.

Still, the agreement is the broadest effort yet to help borrowers owing more than their houses are worth, with roughly one million expected to have their mortgage debt reduced by lenders or able to refinance their homes at lower rates. Another 750,000 people who lost their homes to foreclosure from January 2008 to the end of 2011 will receive checks for about $2,000.

The deal grew out of an investigation into mortgage servicing by all 50 state attorneys general that was introduced in the fall of 2010 amid an uproar over revelations that banks evicted people with false or incomplete documentation.

In the 14 months since then, the scope of the accord has widened from an examination of foreclosure abuses to a broad effort to lift the housing market out of its biggest slump since the Great Depression. Four million Americans have been foreclosed upon since the beginning of 2007, and the huge overhang of abandoned homes has swamped many regions, like California, Florida and Arizona.

In New York State, more than 46,000 borrowers will receive some form of benefit from the settlement, including an estimated 21,000 who are expected to owe less because their principal will be reduced, according to estimates by the Department of Housing and Urban Development.

Other multimillion-dollar settlements were announced on Thursday in connection with the years-long mortgage and foreclosure crisis:

¶ A mortgage servicing subsidiary of Bank of America agreed to settle Federal Trade Commission charges that it illegally assessed more than $36 million worth of fees against struggling homeowners, in violation of an earlier settlement with the F.T.C.

¶ Bank of America, Citigroup, JPMorgan Chase and Wells Fargo also agreed to pay a penalty of $394 million as part of a settlement over foreclosure abuses, the Office of the Comptroller of the Currency said.

Goldenrod 6 owner: Tension is escalating

2012-02-09T05:59:00.000-08:00

Michael Resk says he may move to Texas, but still try to find a local home for others to continue enjoying his six Corona del Mar hens.

Flaty is one of the Goldenrod 6.

By Lauren Williams

The Goldenrod 6 may become the Longhorn 6 if the owner of the Corona del Mar chicken flock moves out of state.
Michael Resk said escalating tension with his neighbor has made him contemplate moving "the Ladies" he's kept for 18 months at his home on Goldenrod Avenue.
He is looking at moving to Texas or another local home because he fears for the safety of his hens after he found rock salt, which is potentially toxic to the birds, spread about his yard. He also said a pipe was removed from the ground at his home.
Resk has talked to Roger's Gardens, a private nursery in Corona del Mar, about taking the chickens so they can safely remain in the community and be enjoyed by residents.
"As much as I love Corona del Mar and Newport Beach, it's at the level of continual … I'm hesitant to use the word harassment, but it's all I can come up with now," Resk said. "I can't live in … continual fear for the safety of the chickens. No one wants to feel like they have to go home and lock their doors to feel like they can have a conversation."
Two similarly named Facebook pages have been created about the chickens: The Goldenrod 6, which is in support of the animals, and The Goldenrod Six. The latter, possibly made by Resk's distraught neighbor, has videos and pictures demonstrating a disliking of the birds and Resk, and includes a link to the Wikipedia page describing the word "nuisance."
Keith Head, who lives across the street from Resk, said he has enjoyed the fresh eggs and that his 16-month-old daughter likes watching the fowl.
"They're just amazing," Head said. "He brought home these little tiny [chicks] … and they all grew up different-looking. It's just kind of cool to see that in a suburban neighborhood."
Dogs in the neighborhood are noisier then Resk's chickens, he said.
"We're really going to miss him if he moves," Head said. "[We] don't want the neighborhood to go to the birds."
Lorenza Robbins said that she believes the neighbor has a camera trained on Resk's backyard and has taken video of her 5-year-old autistic daughter, Summer, with the chickens.
"[Resk is] a wonderful neighbor," Robbins said. "But she posted pictures of our kids on YouTube and that's not right."
Robbins said the birds have helped Summer communicate more verbally because she has bonded with the flock. Robbins has even brought a friend with a disabled child to visit the hens because of the miracles she has seen with Summer.
Robbins said she and her husband, Brent, have thought about adopting the hens — Blackie, Red, Flaty, Tiny, Blondie and Whitey — and moving into Resk's home so that Summer can be with the birds.
But because of the tension with the neighbor, the Robbinses say they may move with the chickens to Dana Point or Laguna Beach.
Attempts to reach the neighbor, whom Resk identified as Maggie McFarland, were unsuccessful.
The Goldenrod 6 first made headlines when Resk was given two weeks to get rid of the birds after a neighbor complained.
Since then, the Newport Beach City Council has considered revising a 42-year-old ordinance that prohibits owning livestock in the city, with a few exceptions near the Back Bay area.
The council is expected in a study session Tuesday to discuss changes to the ordinance.

lauren.williams@latimes.com

Foreclosure deals harder to find

2012-02-08T13:14:00.001-08:00

Foreclosure deals harder to find

http://lansner.ocregister.com/2012/02/08/foreclosure-deals-harders-to-find/157419/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

A sobering last call for alcoholic

2012-02-07T07:17:00.000-08:00

After 520 local arrests and a documentary about his battle with the bottle, Mark David Allen, 50, 'lived and died so that others could live and learn.'

Mark David Allen is the subject of a documentary, titled "Drunk in Public," by Newport Beach Police Custody Officer David J. Sperling. The film chronicled Allen's many arrests and long struggle with alcoholism. Allen was found dead Wednesday. He was 50. (February 2, 2012)

I saw this soul almost every morning down by the pier for years, he was lost, but hopefully he is now found.

By Joseph Serna

The numbers are mind-boggling.

About 520 arrests in Newport Beach. At least 277 cases filed against him by prosecutors in Orange County. Plus an unknown amount in Hawaii, Los Angeles or any of the other places he landed after a stint in jail or rehab.

But the number that's most important to those who knew Mark David Allen, or felt they knew him, is somewhere in the thousands.

That's how many lives Allen touched through his documented story of a decades-long battle with alcoholism.
He died Wednesday at 50 years old. He was found lying face down in the street near 43rd Street and Seashore Drive about 5 a.m. His cause of death was inconclusive following an autopsy, so the county coroner will perform a toxicology screening. Results are expected in six to eight weeks.

His death was expected but surprising at the same time, said Newport Beach Police Custody Officer David J. Sperling. For more than 10 years, Sperling has recorded Allen's frequent — sometimes twice-daily — visits into the city jail. He recorded Allen's 500th arrest last summer.

Sperling got Allen's permission to film him and create a movie out of it years ago, and has kept in touch with Allen ever since. "Drunk in Public" has won awards at film festivals across the country.
Allen's death spread like wildfire across the recovery community, particularly those who were moved by his struggles shown in "Drunk in Public."

"I was in my office when I heard," said Kelly Borski, a chemical dependency counselor in Houston. "I had to take a couple of minutes. I could believe it because it was expected, but I couldn't believe it. He's gone. He's lost to alcoholism."

In Sperling's film, Allen's addiction to alcohol changes him from a tan, handsome Southern California surfer with sun-bleached hair in his 20s to a swollen, unshaven homeless man who speaks nonsensically between singing classic rock and reggae songs.
Alcohol poisoned his memory, and sometimes he couldn't remember Sperling's name even though the part-time filmmaker would occasionally find him, bring him food and take time to catch up.
Allen was arrested for various violations, from the obvious — drunk in public — to trespassing when he violated local businesses' restraining orders.
He had stretches of sobriety in recent years, including when he was sentenced to six months in jail in March 2010.

But no matter how often Sperling, Allen's family and others tried to help him, it never worked. Allen's life was addiction personified.

"It impacts a lot of people. Obviously a lot of my clients got angry and go, 'Why doesn't he stop?'" Borski said. "What people can get out of it is it doesn't have to be them. Every time I show that film, I say to my clients, 'You're here right now. You don't have to do this if you don't want to. But you want to quit and you're here right now.'"

For a few months last year when Allen was sober, Sperling said, he seemed to have regained his memory and was cognizant. He said all the right things to make people believe he wanted to stay sober.
But Allen soon fell back into his old ways.

"I think everyone has a purpose and it may not be a glossy, Disneyfied version of someone that has a problem and everything gets better and is OK," Sperling said. "You can still put merit and purpose out of things that really, from a standard point of view, are a failure."

There are hundreds of comments on the documentary's Facebook wall mourning Allen's death and discussing the movie's effect on them or others.

One commenter wrote: "I am greatfull [sic] for this film and will use it as a substance abuse counselor as a tool to reach clients and as a recoverying [sic] alcoholic I will use it to remind myself what is at stake because this could be me."
Another person wrote: "RIP brother Mark. You lived and died so that others could live and learn. I see you getting out in Heaven's line-up and finally getting a chance to ride God's perfect waves."
Sperling said Allen's life is a cautionary tale.

"Mark brought it all to life, the whole concept of: 'If you do this, this is what's going to happen,'" he said. "With Mark you got to see the despair acted out. He's living the rock bottom and showing people it's not all it's cracked up to be."

Sperling said he is working on updating "Drunk in Public" one last time, wrapping up about a year's worth of interactions that he'll put into a conclusive version of the film.

"That's the thing," Borski said. "He might have died, but that documentary is going to be shown to people, and so he's still going to live."

: Are your experts well trained?

2012-02-05T21:00:00.001-08:00

Home closings: Are your experts well trained?

http://lansner.ocregister.com/2012/02/05/home-closings-are-your-experts-well-trained/158139/

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

Silicon Valley story - Want Facebook shares? You may already own some

2012-02-02T15:50:00.001-08:00

Check out this article:

Want Facebook shares? You may already own some

http://www.bizjournals.com/sanjose/blog/2012/02/want-facebook-shares-you-may-already.html?ana=handmark

------Sent from Silicon Valley

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Figuring taxes from flipped property

2012-02-02T10:02:00.000-08:00

Dear Tax Talk,

Can I offset capital gains from the sale of short-term investment real estate with capital losses from stocks? I have fixed up and flipped the property in less than one year.
-- Todd

Dear Todd,
It seems everyone is buying, renovating and flipping these days. Generally, the tax treatment of the sale is considered capital gain income. If the sale is considered capital gain income, you can offset capital gains with capital losses from any source, including stock market losses. The market losses can be either short- or long-term losses; there is no distinction. For example, if you have a $10,000 short-term gain from the flip and $2,000 in short-term and $3,000 in long-term stock losses, you'll end up paying tax on an overall $5,000 short-term gain.
If the flipping becomes a business, then the income from the sale of the properties would be ordinary income. This means you couldn't offset the income with the stock market losses beyond the standard $3,000 annual limitation on capital losses. Just what exactly constitutes a business of buying and flipping houses is unclear or what we refer to as a "gray area." One to two flips a year is probably not enough to be a business, but eight to 10 a year probably would be a business. If you rented for a period of time after renovating, then your gains would be capital by virtue of becoming property used in a trade or business. How much rental time is also unclear, but 12 months or more I would say to be sure it becomes a capital gain.
If your activity becomes a business, you'll also have to deal with self-employment taxes.

Ask the adviser

To ask a question on Tax Talk, go to the "Ask the Experts" page and select "Taxes" as the topic. Read more Tax Talk columns.

To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Taxpayers should seek professional advice based on their particular circumstances.

Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy.

http://finance.yahoo.com/news/figuring-taxes-flipped-property-080025391.html

Obama proposes refinancing plan for underwater homeowners

2012-02-02T06:39:00.000-08:00

The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

President Obama speaks at the James Lee Community Center in Falls Church, Va. He outlined steps to support a housing market recovery, including helping homeowners to refinance and a homeowner bill of rights. (Saul Loeb, AFP/Getty Images / February 2, 2012)

Reporting from Washington—

Distancing himself from Republicans on housing issues, President Obama pitched a $5-billion to $10-billion plan to help a key segment of struggling homeowners — those still making monthly payments, but on underwater mortgages.

Obama proposed Wednesday to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

He argued that those homeowners — and the country — couldn't afford to let the housing market bottom out, as many Republicans, including presidential candidate Mitt Romney, have advocated.

"This plan … will not help the neighbors down the street who bought a house they couldn't afford, and then walked away and left a foreclosed home behind," Obama said. "It's not designed for those who've acted irresponsibly, but it can help those who've acted responsibly."

His administration took steps last fall to help as many as 11 million underwater homeowners whose loans were backed or owned by Fannie Mae, Freddie Mac or the Federal Housing Administration. Now Obama wants to expand that program to the remaining underwater homeowners, whose loans are owned by banks or investors.

But the refinancing plan is strongly opposed by many congressional Republicans and faces an uphill climb in an election year. They contended that the administration's previous housing plans have been unsuccessful and that the market needs to settle on its own.

"How many times have we done this?" House Speaker John A. Boehner (R-Ohio) said. "I don't know why anyone would think this next program would work."

Obama also proposed to pay for the refinancing plan with a new fee he wants Congress to levy on large banks. The financial industry strongly opposes that fee, which Obama has been unable to push into law since first proposing it in 2010.

Such a fee could delay the housing recovery because it would "directly reduce lending capacity and banks' ability to lend" by up to $100 billion, said Frank Keating, president of the American Bankers Assn.

Obama's proposal appeared designed to draw a sharp distinction between him and Republicans on help for struggling homeowners.

In October, Romney told the Las Vegas Review-Journal that the housing market needed to "hit the bottom" before it could recover, and he has since talked about the need for foreclosures to run their course.

Obama alluded to those comments Wednesday, noting that more than half of all homeowners in Las Vegas were underwater.

"It is wrong for anybody to suggest that the only option for struggling, responsible homeowners is to sit and wait for the housing market to hit bottom," Obama told a crowd at a Falls Church, Va., community center. "I refuse to accept that, and so do the American people."

The administration released 10 pages of details on the refinancing proposal as well as other steps to help the housing market, such as streamlined refinancing requirements and a homeowner bill of rights with simple disclosure forms and protection from inappropriate foreclosures.

To be eligible, homeowners would have to be current on their mortgage payments for the last six months and have missed no more than one payment in the previous six months. Homeowners also would need a credit score of at least 580.

Also, homeowners would have to be no more than 40% underwater on the loan, owing, say, $140,000 on a home now worth only $100,000. Obama also proposed that Congress set new guidelines for loans that are more deeply underwater.

To speed approvals, lenders would need only to confirm that the homeowner has a job. Borrowers would not need to submit tax returns or get a new appraisal of the property. Unemployed homeowners also would be eligible for the refinancing plan, but would be required to provide more detailed financial information.

The program would be open only to mortgages below the FHA's conforming loan limits, which are $271,050 in low-cost areas and $729,750 in Southern California and other high-priced markets. By refinancing, borrowers would save an average of $3,000 a year. The cost of the program would be to cover the increased risks for the FHA, which would back the refinanced loans.

Some Republicans said it was irresponsible to add new risk to the FHA, whose finances are already in trouble and could require a federal bailout.

But Barry Zigas, director of housing policy for the Consumer Federation of America, said the refinancing proposal was "a sensible and modest federal 'helping hand' that is long overdue."

Housing and Urban Development Secretary Shaun Donovan said the White House was open to finding a different method, other than the bank fee, to pay for the refinancing plan. But he said administration officials believed banks should help pay for the plan because they helped cause the housing crisis.

Bert Ely, an independent banking analyst, said the plan could not pass Congress and appeared to be a political move by Obama to put heat on Republicans, particularly Romney.

"Is this really to help the housing market? Or is this really to give the president something to talk about on the campaign trail?" Ely said.

He said the plan probably would not do much to reduce foreclosures because it targeted homeowners who have been making their payments. And he questioned why the administration would want to reduce the amount of paperwork required for refinancing.

"It's ironic that the whole reason we got into this mess was, in part, because of sloppy underwriting and misrepresentations about the ability to pay, and they turn right around and put a proposal on the table which is essentially the same thing," Ely said.

http://www.latimes.com/business/la-fi-obama-refi-plan-20120202,0,6263819.story

Re: Scene #2

2012-01-27T11:31:00.000-08:00

Haha

Very nice!

Ashley Abercrombie

714.393.0484

AshleyMabercrombie@Mac.com

Ashley-abercrombie.com

On Jan 25, 2012, at 3:27 PM, Thomas M Abercrombie <ewastedisposal@gmail.com> wrote:

My Super 8™ Film

Scene #2

Download Super 8™

<Scene #2.mov>

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

cheaper O.C. homes soars 30%

2012-01-26T12:50:00.001-08:00

Demand for cheaper O.C. homes soars 30%

http://lansner.ocregister.com/2012/01/26/demand-for-cheaper-o-c-homes-soars-30/157708/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Must do’s if you wanna sell your house

2012-01-22T09:15:00.001-08:00

Got your Orange County home on the market? Here are some basic Must Do’s when buyers are coming to call.

Always leave your house as neat as a pin, ready for the perfect buyer, EXPECTING that they will come while you are gone. Take a look around before you leave to make sure everything is set. Even take three minutes to make fresh vacuum tracks in the living room carpet to show you really put some effort into making the house shine. Leave on strategic lights. Set the thermostat to a comfortable temperature. Leave the whole house stereo system on classical music.

This sets your intent with the Universe that you truly want to attract the perfect buyer for your home, if you’re into that kind of thing. Even if you aren’t into Universal Energy or the Force – at least check the house every time you leave so you don’t have to worry about whether or not the kids left their dirty underwear on the bathroom floor.

Always LEAVE your house if you are home when a buyer is expected. As in physically go away from the house. Even if you work from home and you’re on a super important international conference call. Don’t even think about walking behind the buyers with your Bluetooth headset on, barking instructions and strategies to your associates in China or London. And are all the kids home doing homework? They’ve got to go, too. EVERYONE leaves when buyers come to look. Don’t be your own anti-sales strategy. It is terribly uncomfortable for buyers to try on your home while you’re still in it. Quite a buzz kill.

The one exception to the above fundamental law of home selling is the napping baby/toddler/grandparent. At least tuck all ya’ll away in the nap room. And put several photos of the room on the door with a note that says “Sleeping Baby” and a picture of the little tyke fast asleep in his crib. Everybody loves baby pictures. The more emotion you conjure up for the buyer, the better chance the perfect buyer will fall in love with your house and make a great offer.

Keeping your fingers crossed never hurts either.

http://lansner.ocregister.com/

OC. activist support surfer arrested

2012-01-21T10:18:00.001-08:00

Slater, O.C. activist support surfer arrested

http://beach.orangecounty.com/2012/01/20/slater-offers-support-for-surfer-arrested-in-chicago/54051/

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

Irvine and Newport Beach apartment rents up $155 a month

2012-01-21T08:34:00.000-08:00

A survey of large Orange County apartment complexes showed that Irvine and Santa Ana had the biggest rent hikes during the fall quarter of 2011, apartment tracker RealFacts reported.

Irvine renters saw their monthly rent check jump an average of $155 a month from the same quarter a year ago. That’s an 8.9 percent increase.

*Apartment buildings with 90 or more units*
City	Avg. Rent	$ ch	% Ch
Irvine	$1,897	$155	8.9%
Santa Ana	$1,415	$129	10.0%
Newport Beach	$2,012	$103	5.4%
Placentia	$1,459	$100	7.4%
Lake Forest	$1,507	$97	6.9%
Orange	$1,569	$91	6.2%
Tustin	$1,529	$86	6.0%
Anaheim	$1,306	$83	6.8%
Costa Mesa	$1,580	$78	5.2%
Laguna Niguel	$1,562	$77	5.2%
Rancho Santa Margarita	$1,441	$74	5.4%
Aliso Viejo	$1,630	$65	4.2%
Stanton	$1,212	$64	5.6%
Fullerton	$1,324	$58	4.6%
Fountain Valley	$1,375	$54	4.1%
Huntington Beach	$1,448	$41	2.9%
La Habra	$1,278	$38	3.1%
Buena Park	$1,263	$30	2.4%
Garden Grove	$1,310	$28	2.2%
Westminster	$1,307	$25	2.0%
Brea	$1,380	$6	0.4%
Mission Viejo	$1,448	($4)	-0.3%
Cypress	$1,342	($31)	-2.3%

In Santa Ana, the average big-complex apartment dweller saw rent increase by $129 a month, up 10.1 percent.

Of the 23 cities in the RealFacts survey, all but two had annual rent hikes. Rent was down $31 a month on average in Cypress, a 2.3 percent decline. In Mission Viejo, average apartment rents dropped 0.3 percent or $4 a month.

Countywide, average apartment rents were up by $83 a month from the fall quarter of 2010 to $1,561, a 5.8 percent increase. It was the biggest gain in 4 ½ years, mainly because rents dipped in the fall 2010 quarter – the only quarter out of the past eight not to see an increase.

Among cities, the RealFacts report shows that as of last fall:

Two other cities saw apartment rents up by $100 or more a month: Newport Beach, where average rents increased by $103 a month, or 5.4 percent; and Placentia, where average rents increased by $100 a month, or 7.4 percent.
The smallest increases in average rent were in Brea (up $6 a month), Westminster (up $25), Garden Grove (up $28) and Buena Park (up $30).
Newport Beach continues to be the city with the highest apartment rents, averaging $2,012 a month in the fall. It was followed by Irvine ($1,897), Aliso Viejo ($1,630) and Costa Mesa ($1,580).
Stanton continued to have the county’s lowest rent among cities in the survey. Large apartment complexes in that city charged an average of $1,212 a month, up $64 a month or 5.6 percent from the previous fall.
The next lowest average rents were in Buena Park ($1,263), La Habra ($1,278) and Anaheim ($1,306).

A little context …
RENTAL TRENDS Irvine apartment rents up $155 a month Apartments see biggest rent hike in 4.5 years SoCal rents: Smallest hike in a year Landlords' rent breaks are rarer, smaller SoCal rents rise for 14th straight month Landlord: O.C. rents rising 5.8%	MARKET TRENDS Analyst: Small uptick in Calif homebuying 1 in 4 O.C. homes sell for under $300,000 Investors tie SoCal homebuying record Homebuying slips in 46 ZIPs! Yours? O.C. home prices, sales dip in December Home prices, sales up in 11 ZIPs! Yours?

http://lansner.ocregister.com/

Orange County Register OC foreclosures take year to complete

2012-01-20T12:24:00.001-08:00

O.C. foreclosures take year to complete

http://lansner.ocregister.com/2012/01/18/foreclosures-take-almost-a-year/157358/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Orchid

2012-01-20T09:06:00.000-08:00

Fallen marine family receives his Navy Cross

2012-01-17T19:18:00.001-08:00

Fallen Marine's family receives his Navy Cross

http://www.ocregister.com/news/marine-336053-hogan-donald.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

How to Reuse or Recycle Your Old Tech

2012-01-17T08:07:00.001-08:00

How to Reuse or Recycle Your Old Tech
PCMAG.COM | JANUARY 17, 2012
http://pulse.me/s/553TK

We buy a lot of electronics in this country, and that means we throw a lot of electronics away, as well. In 2010 alone, the U.S. recycling industry sp... Read more

--
Want to read news on the go? Get Pulse, an awesome news reader for iPad, iPhone and Android. Its Free!

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

New listings that match your search (01-16-2012)

2012-01-16T14:10:00.001-08:00

If you are having trouble viewing this email, please click here.

Nice buy,

Thomas Abercrombie
DRE LIC# 00526572
Thomas M. Abercrombie
949-466-8857
949-466-8897
tom@tomabercrombie.com
http://www.theochomesearch.com

1798 New Hampshire Dr
Costa Mesa, 92626-2032

Year Built	:	1970
Bedroom(s)	:	4
Living Area	:	2190
Lot Area	:	5544
Property Type	:	(RES) Single Family
Building Type	:	Detached/No Common Walls
MLS®	:	P804804

Asking Price $510,000

Property description: 4 BEDROOMS / 3 BATHROOMS HOME, TWO LEVELS, CORNER LOT, IN GROUND FENCED POOL/SPA. 1 BEDROOM / 1 BATHROOM DOWNSTAIRS AND 3 BEDROOMS AND 2 BATHROOMS UPSTAIRS. NEEDS COSMETIC REPAIRS AND THE POOL/SPA WILL NEED TO BE REPAIR TOO. THIS IS A HOME WITH GREAT POTENTIAL ON A VERY NICE AND QUIET NEIGHBORHOOD.

Source :Nuestra Casa Realty

Disabled Veterans' real estate Exemption

2012-01-16T13:25:00.000-08:00

The Disabled Veterans' Exemption is available for qualified veterans toreduce their property tax liability. In order for property to qualify for theDisabled Veterans' Exemption, it must be used as the principal place ofresidence of the veteran or the unmarried surviving spouse of a qualifieddisabled veteran. One exception to this requirement occurs when the veteran isconfined to a hospital or other care facility and the property would be thatveteran's principal place of residence were it not for such confinement,provided that the residence is not rented or leased. The property may be ownedby the veteran, the veteran's spouse, or the veteran and spouse jointly.

This exemption provides for a more advantageous exemption than the Veterans' Exemptionor the Homeowners'Exemption. Thus, if a veteran qualifies, a veteran who is a homeownershould choose the Disabled Veterans' Exemption in lieu of the Veterans'Exemption or the Homeowners' Exemption.

No other property tax exemption may be granted to a residence which hasbeen granted a Disabled Veterans' Exemption. However, if two or more qualifiedveterans own a property in which they reside, each is entitled to the DisabledVeterans' Exemption to the extent of his or her interest.

A qualifying disabled veteran, or the unmarried surviving spouse of theveteran, may claim either of the following benefits on his or her principalplace of residence:

· An exemption from propertytaxation on that part of the full value of the residence that does not exceed$100,000, as adjusted for the relevant assessment year (basic exemption); or

· An exemption from propertytaxation on that part of the full value of the residence that does not exceed$150,000, as adjusted for the relevant assessment year, when the householdincome of the veteran does not exceed $40,000, as adjusted for the relevantassessment year (low-income exemption).

The dollar amounts of the exemption and the income threshold for thelow-income exemption are increased annually due to inflation.

· Section205.5 subdivisions (g) and (h)

· Letter ToAssessors 2010/022, DisabledVeterans' Exemption Increases for 2011

Definition of a Principal Place of Residence

For a property to be considered a principal place of residence forpurposes of the Disabled Veterans' Exemption there is no statutory requirementthat a veteran must reside in their primary residence for a particular amountof time to qualify for the exemption. In order to qualify for the DisabledVeterans' Exemption, the dwelling must be established as the owner's principalplace of residence as of 12:01 a.m. on the lien date (January 1). If new to theproperty and not yet living at the property through a lien date, the exemptionmay be claimed by a qualified individual upon a change of ownership orcompletion of new construction on or after January 1.

One of the foremost factors in granting the Disabled Veterans' Exemptionis determining what constitutes a dwelling as a principal place of residence.For property tax purposes, the relative definition of a principal place ofresidence is the same as, or closely parallels to, the legal doctrine ofdomicile. Under this doctrine, a person's domicile depends on two factors: physical presenceand intention.The combination of both factors should be used to make the final determinationof a claimant's primary residence.

Physical presence is the place where:

· A person is physicallypresent and makes his or her home.

· A person customarily returnsafter work and between trips or absences due to work, pleasure, or otherwise,even if the absence is extended.

· Clothes and personalbelongings are kept.

· Housekeeping (preparingmeals, sleeping, bathing, entertaining) is set up.

· The person files income taxreturns as a resident.

· A driver's licensed isissued.

· The person has listed forvoter registration.

For the physical presence factor, the individual facts as they relate toeach other as a whole should be reviewed in each claim, as not all elementslisted are necessary to satisfy this requirement.

Intention factor is the intent of the claimant to remain at theresidence and not the intent to stay there only for a temporary purpose andreturn to a legal domicile elsewhere. Of the two factors, intention isessential and required.

Definition of a Disabled Veteran

The Disabled Veterans' Exemption is available to a veteran, as describedabove, who is disabled according to any one of the following criteria:

· Is blind in both eyes. Beingblind in both eyes means having a visual acuity of 5/200 or less, or concentriccontraction of the visual field to 5 degrees or less.

· Has lost the use of two ormore limbs. Losing the use of a limb means that the limb has been amputated orits use has been lost by reason of ankylosis, progressive muscular dystrophies,or paralysis

· Was totally disabled as aresult of injury or disease incurred in military service. Being totallydisabled means that the United States Department of Veterans Affairs (USDVA) orthe veteran's military branch has rated the disability at 100 percent or hasrated the disability compensation at 100 percent by reason of being unable tosecure or follow a substantially gainful occupation. If a veteran has receiveda disability rating of 100 percent from the USDVA, the county assessor shouldconsider the veteran qualified for the exemption without requiring furtherdocumentation.

Surviving Spouse

The principal place of residence of an unmarried surviving spouse of adeceased veteran may qualify for the Disabled Veterans' Exemption. The benefitsare extended to the unmarried surviving spouse of a veteran who:

· Qualified for the exemptionduring his or her lifetime;

· Would have qualified if he orshe had been alive on January 1, 1977; or

· Died from a service-connectedinjury or disease.

While the first two instances above require that the veteran had toqualify for the exemption (be rated as 100 percent totally disabled), thelatter instance only requires that the veteran died of an injury or diseasewhich was service-connected. Thus, in this instance, the unmarried survivingspouse may be eligible for exemption even though the veteran was not eligibleduring his or her lifetime.

If the unmarried surviving spouse receives documentation from the USDVAshowing that the veteran died of a service-connected injury or disease, thecounty assessor should consider the unmarried surviving spouse qualified forthe exemption without requiring further documentation.

Filing Requirements

Form BOE-261-G, Claimfor Disabled Veterans' Property Tax Exemption, must beused when claiming this exemption on a property for the very first time forboth the basic and the low-income Disabled Veterans' Exemption. The claim formis available by contacting your county assessorwho may offer a downloadable form from their website.

In order to receive 100 percent of the basic exemption in the first yearclaimed, the claim form must be filed between the date the property or veteranqualifies and on or before the following January 1, or 30 days after the dateof qualification, whichever is later. A one-time filing is only required forthe $100,000 basic exemption; however, annual filing is required for the$150,000 low-income exemption to ensure the veteran continues to meet thehousehold income limit restriction (claim form must be filed between January 1and February 15).

The veteran must file the form with the county assessor of the county inwhich the property is located. All information requested on the form must beprovided, including the following information:

· Name of the person claimingthe exemption

· Address of the property

· Statement that the veteranowned and occupied the property as his or her principal place of residence onthe lien date, or that he or she intends to own and occupy the property as aprincipal place of residence on the next succeeding lien date

· Proof of disability

The following links may provide additional information or assistanceregarding the Disabled Veterans' Exemption:

· California Department ofVeterans' Affairs

· FrequentlyAsked Questions

· Legal Opinions

· Listing ofCounty Assessors

· Sourcesof Income for Low-Income Exemption

· Taxpayers' Rights Advocate

OC homeowner beats schemers by herself

2012-01-15T18:58:00.001-08:00

O.C. homeowner beats schemers by herself

http://www.ocregister.com/articles/company-335519-money-holmberg.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

A Digital Guide to Buying a Home

2012-01-15T11:35:00.001-08:00

A Digital Guide to Buying a Home
PCMAG.COM | JANUARY 15, 2012
http://pulse.me/s/519Ps

People used to open the Sunday paper, look over the real estate listings, linger over the properties with descriptive phrases like "guest house" and "... Read more

--
Want to read news on the go? Get Pulse, an awesome news reader for iPad, iPhone and Android. Its Free!

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

8 surprising trends for real estate in '12

2012-01-15T09:07:00.001-08:00

8 surprising trends for real estate in '12

http://www.ocregister.com/articles/year-335370-president-apartment.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

5 VA Loan Myths Dispelled

2012-01-14T09:30:00.000-08:00

Dismiss VA home loan myths about the federally-backed, zero down loan program.

Myth #1 – VA purchase loans are not for short-sale or foreclosed real estate

Myth #2 – Surviving spouses don’t qualify for VA mortgages

Myth #3 – Military members deployed overseas can’t get a VA-guaranteed loan.

Myth #4 – All realtors are good VA home loan advisors

Myth #5 – VA loans take forever to close

Fact #1: VA home loans can be used to purchase foreclosed and short-sale with as little as no money down. VA-eligible borrowers may have an advantage over those who need up to 20% cash down to qualify for conventional loans. A VA appraiser is trained to certify value and safety and can spot red flags of distressed properties.

Fact #2: Veterans, active duty and certain surviving spouses are eligible for VA home loan benefits. Qualified surviving spouses may borrow up to $417,000 (more in high-cost counties) with no money down. And, surviving spouses are exempt from paying the VA funding fee.

Fact #3: Military members deployed overseas can sign a document called power of attorney or (POA) designating a spouse or someone else to act as on their behalf for a VA loan transaction. The POA grants permission for the attorney in fact to sign on behalf of the VA-eligible borrower. The service member must give intent to obtain a VA loan through an email, letter or other correspondence. Only a spouse can satisfy the occupancy rule (move in within 60 days of closing) in a deployed serviceperson’s stead. Otherwise, the borrower serving away from home will be granted an extension of up to 12 months to occupy the home.
Fact #4: A VA certification for real estate agents does not exist. Therefore, a real estate agent should not be used as a reliable source for VA loan information. Real estate agents who are not well-informed about VA loans can even unintentionally dissuade VA-eligible borrowers from choosing the program which may be best for them. A VA specialty lender, one whose majority product is VA-backed loans, can provide reliable VA loan facts.

Fact #5: If a lender is specialized in VA home loans, then closing can often happen within 30 days. The VA-approved lender is given flexibility to decide on its own whether a borrower is a satisfactory credit risk. Even a borrower with extenuating circumstances may close quickly.
To dismiss the myths of VA-backed mortgages and create your own VA Home Loan Story, contact a lending professional.

When in Dana Point, eat good Mexican food

2012-01-13T11:46:00.001-08:00

La Brea Bakery, Newport beach

2012-01-13T10:30:00.001-08:00

Countu building making employees sick?

2012-01-13T09:51:00.001-08:00

Is a county building making employees sick?

http://taxdollars.ocregister.com/2012/01/13/is-a-county-building-making-employees-sick/146330/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Apple , fashion island

2012-01-13T09:12:00.001-08:00

Dore: The Little Studio That Could (Produce Hits)

2012-01-11T18:45:00.001-08:00

I found the following story on the NPR iPad App:
http://www.npr.org/2012/01/09/140598430/dore-the-little-studio-that-could-produce-hits?sc=ipad&f=124289519

Dore: The Little Studio That Could (Produce Hits)
by Ed Ward

NPR - January 9, 2012

Someday, some genius is going to do a Mad Men-type show about the little record labels of the late 1950s. Yes, I'll happily serve as a consultant.

My first suggestion is that the L.A. part be set in what was known as Record Row, a bunch of cheap studios, record-company offices, promotion companies and music publishers essentially bounded by Selma, Sunset, Argyle and Vine in Hollywood. It was here, in 1955, that Era Records opened an office on North Vine. Era was run by Lew Bedell, who'd had a comedy act for some years, and Herb Newman, a younger guy who'd had some experience in the record business. Bedell put up $7,500 of his own money on the suggestion of his Uncle Max, who knew people and thought this would be a good idea.

In fact, it was: Era had a number of hits by people like Gogi Grant and Art & Dotty Todd, artists who performed in local nightclubs, and their promotion folks were canny and effective, which meant that even the non-hits made money. Bedell did well enough to marry his fiancée, Dede Barrymore, from the famous acting family, but it was becoming evident that he and his partner didn't see eye to eye on the rock 'n' roll stuff that seemed to be selling. So in 1958, Bedell started a subsidiary label named after his new son, Doré, and bought a couple of unreleased recordings from a New York producer.

"After School Rock" was one of those records people who didn't understand rock 'n' roll thought was rock 'n' roll, and it tanked. Still, the doors at Doré were always open, and one day a couple of teenagers who called themselves The Teddy Bears walked in with something they'd recorded at Gold Star Studios. Bedell listened to the tape, a song called "Don't You Worry My Little Pet," and liked it enough to put up a few bucks for the group to record a B-side. Philip Spector, the group's songwriter, adapted the words on his father's tombstone for the trio's singer, Annette Kleinbard, and they recorded "To Know Him Is to Love Him."

The more Bedell listened, the more he liked it. Herb Newman was scandalized: It was a demo! You couldn't release a demo. But Bedell released it, and every day after school, Spector would drop in to ask, "How are we doing today, Mr. Bedell?" Bedell would invariably reply, "No word."

Then, one day, there was word, from Fargo, N.D., that the distributor there had sold 18,000 copies and needed more. His territory also included Omaha, and from there it spread and spread, topping the charts in September 1958 and becoming Doré's first — and only — million-seller. Soon thereafter, the Welk Music Group approached Era/Doré and offered $180,000 for the copyrights on five of its songs, including The Teddy Bears', and Newman used his part to buy his share of Era from Bedell and move into swankier offices. Bedell knew better: His next hit could walk in off the streets at any minute, and it did.

Jan Berry had already had a hit with local DJ Arnie "Woo Woo" Ginsberg, but he and his friend Dean Torrance had rewritten a flop record by someone called The Laurels and had their friends Herb Alpert and Lou Adler take "Baby Talk" around town for them. Dot Records made them an offer, but they wanted a second opinion, and Bedell's opinion was that he wanted it. It scraped into the national Top 10 in 1959, and Bedell bought himself a Jaguar XKE with "LEW B" licence plates. He also spent a lot of time playing golf with his buddy Dean Martin at the Riviera Country Club.

Doré wasn't much into what's now called artist development: Most of the artists who recorded there went elsewhere for their next records. Not John and Judy; a brother-and-sister act, they were being pushed by their mother, and their first record for the label, "Hideout," got them two more, which didn't do as well. They kept going, and eventually John wound up as part of the Walker Brothers.

Occasionally, there was an actual hot record on Doré. Tony Casanova was a Puerto Rican kid whose best friend in high school was Ritchie Valens; the two worked together on the track "Showdown."

Another talent who slipped through Doré's fingers was Little Ray. Ramon Jiminez was only 14 but already a veteran when he recorded "There Is Something on Your Mind," a classic that's still big in East L.A.

The Beatles, though, took Bedell by surprise, just like everyone else. One thing he noticed immediately was that, while his pop acts suddenly weren't selling, the black groups kept going just fine, because the black stations weren't playing the British groups. In 1964, he made the wise business decision to focus on soul. But that's a story for another time. [Copyright 2012 National Public Radio]

To learn more about the NPR iPad app, go to http://ipad.npr.org/recommendnprforipad

Thomas M Abercrombie

Sent from my iPad

globalFEST 2012: A World Of Amazing Discoveries

2012-01-11T18:41:00.000-08:00

I found the following story on the NPR iPad App:
http://www.npr.org/2012/01/10/144917135/globalfest-2012-a-world-of-amazing-discoveries?sc=ipad&f=124289519

globalFEST 2012: A World Of Amazing Discoveries

NPR - January 10, 2012

Twelve bands, 17 different countries, three stages, one frenzied night: That's the promise of globalFEST, a yearly showcase for international musicians who come from around the world to New York's Webster Hall. There, they introduce themselves to American club bookers, festival programmers, band managers and, of course, music fans. If you pace yourself well, there's just enough time during the evening's six hours to get a good taste of bloeach band — and this year's amazing array of talent was fresh and surprising, from the funked-out psychedelic grooves of Ethiopia (by way of Boston's Debo Band) to the Silk Road's joyously rollicking cross-cultural collaboration, to the atmospheric and haunting sounds of Wang Li, a solo Chinese jaw harp player.

For this week's edition of All Songs Considered, NPR Music's Anastasia Tsioulcas, NPR contributor and Afropop.org senior editor Banning Eyre, and Rob Weisberg of WNYC (who also hosts WFMU's Transpacific Sound Paradise) join Bob Boilen to revisit some of the highlights and favorite discoveries from this year's globalFEST. [Copyright 2012 National Public Radio]

To learn more about the NPR iPad app, go to http://ipad.npr.org/recommendnprforipad

Thomas M Abercrombie

Sent from my iPad

Walk softly, this is hallowed ground, Hoorah young man.

2012-01-11T17:50:00.003-08:00

Thomas M Abercrombie
Sent from my iPad

Walk softly, this is hallowed ground, Hoorah young man.

2012-01-11T17:50:00.001-08:00

Boston -old man found in green waste

2012-01-11T12:53:00.001-08:00

Body of 44-year-old man found in green waste

http://www.ocregister.com/news/reinhart-335127-body-waste.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Owl hatchlings beginning to emerge

2012-01-10T08:17:00.001-08:00

Owl hatchlings beginning to emerge

http://www.ocregister.com/news/owl-334858-eggs-webcams.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Buyers chose distressed homes by 3-to-2

2012-01-10T08:04:00.000-08:00

every two weeks a report on the supply of local homes for sale and the share of that inventory that’s distressed properties — foreclosures and short sales. His latest report — as of January 5 — says …

3,137 distressed Orange County properties were listed for sale — 39% of the 8,114 listed overall.
1,360 new escrows were opened to buy distressed Orange County properties in the past 30 days. That is 61% of the 2,220 new pending sales countywide or 3-to-2 preference!
Thomas calculated “market time” — cross of supply and new escrows showing how long, theorhetically, it would take to sell inventory. Using that “market time” math, there’s 2.31 months worth of distressed properties on the market vs. 5.79 months worth of non-distressed homes. So, distressed homes currently sell 2.5 times faster than non-distressed homes.
20% of the distressed listings were foreclosures being sold by banks.
80% of the distressed listings were short sales.
48% of the distressed listings were attached homes.
52% of the distressed listings were detached homes.
93 of the listed distressed homes were price above $1 million — 3% of all distressed listings.
2,465 of the listed distressed homes were priced $500,000 or less — 79% of all distressed listings.
Chart summarizes trends in Thomas’ report, distressed counts and share of all listings (plus, pending sales and market time — demand divided by inventory.)

Banks are not intentionally holding foreclosed properties off of the market here in Orange County. Foreclosures are a hot commodity in the OC. Currently, there are only 620 foreclosures on the market in the entire county and the expected market time is 1.76 months, the slowest time of the year. Ask any buyer who has attempted to pursue a foreclosure and you will find that it extremely difficult to land one. Landing a foreclosure is as easy as finding a Cabbage Patch doll during Christmas in the 1980’s: almost impossible. So, there is simply no reason for a lender to intentionally hold these homes off of the market.

Highlights …

All O.C.	Distressed	All	Pct. Distress
Total	3,137	8,114	38.7%
By type of distress	Pendings	Listed	Time (months)
O.C. foreclosures	352	620	1.76
O.C. short sales	1,008	2,517	2.50
By home type	Distressed	All	Pct. Distress
Attached homes	1,493	3,235	46.2%
Detached	1,619	4,847	33.4%
By price slice	Distressed	All	Pct. Distress
O.C. $0-$250k	897	1,591	56.4%
O.C. $250-$500k	1,568	2,983	52.6%
O.C. $500k-$750k	449	1,564	28.7%
O.C. $750k-$1m	119	682	17.4%
O.C. $1m-$1.5m	50	474	10.5%
O.C. $1.5m-$2m	24	272	8.8%
O.C. $2m-4m	13	369	3.5%
O.C. $4m+	6	229	2.6%
By city/High share	Distressed	All	Pct. Distress
Portola Hills	14	16	87.5%
Rancho Santa Marg.	91	137	66.4%
Ladera Ranch	84	127	66.1%
By city/Low share	Distressed	All	Pct. Distress
Corona Del Mar	113	5	4.4%
Seal Beach	235	11	4.7%
Laguna Woods	321	26	8.1%

Posted in: http://lansner.ocregister.com/Distressed properties

Forecast: 5 years to next housing peak

2012-01-09T10:23:00.001-08:00

Forecast: 5 years to next housing peak

http://lansner.ocregister.com/2012/01/09/analyst-eyes-5-years-to-next-housing-peak/156851/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Red flag warning for O.C. housing market

2012-01-08T16:47:00.001-08:00

Red flag warning for O.C. housing market

http://lansner.ocregister.com/2012/01/08/red-flag-warning-for-o-c-housing-mar...

------Sent from Orange County Register Mobile

Thomas M Abercrombie
Sent from my iPad

Red flag warning for O.C. housing market

2012-01-08T16:45:00.000-08:00

Red flag warning for O.C. housing market

http://lansner.ocregister.com/2012/01/08/red-flag-warning-for-o-c-housing-market/156848/

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

Economist forecasts 5% home-price drop

2012-01-08T10:14:00.001-08:00

Economist forecasts 5% home-price drop

http://lansner.ocregister.com/2012/01/07/economist-eyes-5-home-price-drop/156837/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Gift My PC

2012-01-05T16:54:00.001-08:00

http://www.giftmypc.org/

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Agent eyes no bottom soon for O.C. condos

2012-01-05T16:12:00.000-08:00

Real estate agent Veronica Hicks of CondosEtc. follows that sometimes ignored slice of housing: the local condo market.

She’s our 17th guest for “Eyeball 2012!”

This series of interviews is our holiday gift to you, Lansner on Real Estate’s sixth annual collection of outlooks on local real estate conditions! Yes, two weeks of opinions on 2012; a new vision every morning into the first week of January.
Welcome, Veronica …

Us: How will 2011 be viewed when we all have a clear head? The bottom? More of the same? Year you’d rather forget?

Veronica: Relative to condos, 2011 was more of the same compared to 2010. The amount of distressed sales as a percentage of the overall sales was 53% which was higher than last year. More than ¾ of the properties currently under contract or in escrow are distressed properties. That tells me that the buyers are still only buying “deals”. For sellers that aren’t realistic on their prices, they are likely to sit.
I don’t think for the condo market we will see bottom for a couple years – maybe even as late as 2013. There are still a lot of inventory out there that will reset in the next couple years with the old 5 and 7 year arms and next year is the last year of the Mortgage Debt Relief act which may affect sales values. There could be another wave of short sales coming and we still haven’t seen the release of the foreclosures.
Every deal, even leases, are a challenge to close. Buyers and sellers are both not happy, lenders are very meticulous in their underwriting – there are so many choices and getting anyone to compromise is very difficult. Nothing is remotely close to easy.

Us: What’s the outlook for 2012?

Veronica: I expect more of the same trends. I expect to see more declines in prices because of a continued short sale trend. 2012 is the last year of the “tax-free short sale” with the expiration of the mortgage debt relief act. So many people who bought both new and resale units built in the early 2000’s have adjustable mortgages. In 2011, the condo market was at 2003 pricing levels and that could drop further next year if we see a surge in distressed properties. If there are more short sales and the banks release more foreclosure inventory, 2012 and 2013 will probably offer the best deals out there and sellers who want to sell that are not in a distressed situation will have to either lease out their properties or bite the bullet on pricing.

Us: How will the political discourse impact the industry in the coming election year?
Veronica:
The partisan bickering and political games played a role in real estate in 2011. The market earlier in the year seemed to actually be getting much better and there seemed to be more confidence in the market. Buyers were actually engaging and I saw a small uptick in prices and lower times on market. Then came the credit downgrades, the threats of shut down, all affecting buyer confidence. I expect that to get worse as we enter the election year. A lot of players will sit on the sidelines to see what happens. I expect that to drive up leasing activity.

killer whales hunt, play off O.C.

2012-01-04T17:15:00.000-08:00

Rarely seen killer whales hunt, play off O.C.

http://sciencedude.ocregister.com/2012/01/04/rarely-seen-killer-whales-hunt-play-off-o-c/166283/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

@latimes, 1/3/12 7:00 PM

2012-01-03T20:51:00.001-08:00

Los Angeles Times (@latimes)
1/3/12 7:00 PM
Supreme Court takes up property rights dispute in EPA case lat.ms/uSWyeL

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

Newport Beach, California Photos - The Real OC

2012-01-03T20:43:00.001-08:00

http://www.beachcalifornia.com/newport.html

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

For Sale: 307 E 19Th St Costa Mesa, CA 92627 - $739,000

2012-01-02T18:48:00.001-08:00

Costa Mesa home for sale!

http://socal.kurio.mobi/property.kurio/details/P802987-1240-cache-U11311-_307_East_19th_Street

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

For Sale: 300 Catalina Dr Newport Beach, CA 92663 - $740,000

2012-01-02T18:44:00.001-08:00

http://socal.kurio.mobi/property.kurio/details/CNT~F1861985-1240-cache-U11311-_300__CATALINA_Drive

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Associations board's meeting time

2012-01-02T12:30:00.001-08:00

Homeowners want to change association board's meeting time

Question: Our monthly homeowner association board meetings are Wednesdays at 4 p.m., when most owners are at work. This ensures a low turnout. Of 200 owners, maybe two can attend. How can owners get the board to change the meeting time?

The full story can be viewed at: http://www.latimes.com/la-fi-associations-20120101,0,5012662.story?track=latiphoneapp

Get the Los Angeles Times iPhone app from iTunes: http://www.itunes.com/apps/latimes

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

Happy 24th!

2011-12-31T08:48:00.001-08:00

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

Begin forwarded message:

From: Thomas M Abercrombie <ewastedisposal@gmail.com>
Date: December 31, 2011 8:21:56 AM PST
To: Thomas Abercrombie <ewastedisposal@gmail.com>
Subject: a picture for you

You have been sent 1 picture.

IMG_4477.JPG

These pictures were sent with Picasa, from Google.
Try it out here: http://picasa.google.com/

Newport Beach home sales fall 17%

2011-12-28T08:21:00.001-08:00

Newport Beach home sales fall 17%

http://newporthomes.ocregister.com/2011/12/27/newport-beach-home-sales-fall-17/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

FHA Ant-flip Waiver Extended

2011-12-27T10:03:00.000-08:00

Saturdaynight, while you were pleasantly dreaming of presents, the cookies for Santahad a different experience.

FHA lenders had reason for cheer and mirth at the end of last week. "In aneffort to continue stabilizing home values and improve conditions incommunities experiencing high foreclosure activity, Acting FHA CommissionerCarol Galante will extend FHA'stemporary waiver of the anti-flipping regulations." With certainexceptions, FHA regulations prohibit insuring a mortgage on a home owned by theseller for less than 90 days, but this rule is waived through December 31, 2012, unless otherwiseextended or withdrawn by FHA. "All other terms of the existingWaiver will remain the same. The Waiver contains strict conditions andguidelines to prevent the predatory practice of property flipping, in whichproperties are quickly resold at inflated prices to unsuspectingborrowers. The Waiver continues to be limited to sales meeting thefollowing conditions: All transactions must be arms-length, with no identity ofinterest between the buyer and seller or other parties participating in thesales transaction. In cases in which the sales price of the property is 20percent or more above the seller's acquisition cost, the Waiver will only applyif the lender meets specific conditions and documents the justification for theincrease in value. The Waiver is limited to forward mortgages, and does notapply to the Home Equity Conversion Mortgage (HECM) for purchase program. ForFHA technical support, please contact the FHA Resource Center."

Various lenders and investors have fairly specific overlays or restrictions.For example, wholesaler Mountain WestFinancial states, "It is important to recognize the property as a flipprior to issuing the initial GFE due to the additional appraisal cost andinspections which must be disclosed up-front. If there is a possibility thatthe transaction involves a property being flipped, MWF recommends that the feesfor the two full appraisals, the two 1004D's, and a home inspection bedisclosed up-front on the initial GFE to the borrower. Realizing the propertyis a flip at a later date is not a valid changed circumstance, making itnon-allowable to redisclose with the additional fees. All cases in which thesales price of the property is 20 percent or more over and above the seller'sacquisition cost will require (2) full appraisals. The appraisals must beordered through MWF's Appraisal Department via the company's approved FHAappraiser roster."

As we found out last week, g-fees fornew agency loans will be going up to pay for the two-month payroll tax cut.Under the "unintended consequences" banneranalysts were quick to point out that, given the increase is scheduled for tenyears, Fannie Mae and Freddie Mac are not going away any time soon unless thegovernment comes up with the money elsewhere. F&F will not absorb thisincrease, nor will lenders; it will, of course, be passed on to borrowers. (Thebill also will raise the annualinsurance premium borrowers pay on FHA loans by one-tenth of a percent.)The increased g-fee, which makes it difficult for Congress to work on effortsto shut down Fannie and Freddie, based on current rates and a $200,000 loan, willcost the agency borrower about $11 per month. "These institutions, whichhave been so costly to Americans and are so necessary to the housing recovery, shouldnot be the piggy bank for future arbitrary tax policy," Dave Stevens (MBA)said. Due to their government ownership, investors still view their (andFHA/VA) MBS's as safer investments than those offered by private firms. The lawallows FHFA to phase in the fee over two years.

Who wouldn't want to spend three days in Arizona in February, lounging aroundthe pool, spending a little time on the golf course sipping a few tall coolones? What if you could combine that with a NMLS conference? Here's your big chance.
Last weekthe commentary repeated a note from a reader asking, "How many non-depository mortgage bankers are still giving partiallender credits to borrowers?" and he suggested that, "I think youwill find that depository lenders do not allow this practice as it is aviolation of Fair Lending and Desperate Impact. Loan Originators are notallowed to provide anything to one borrower that is not equally available toanother, yet loan originators continually increase interest rates and givelender credits as a means to compete." A reader responded, "Perhaps the tide is beginning to changeback to the favor of non-depository lending. Depository lenders have oneset of rules and one price sheet, and it is not possible to change the creditto the borrower for all are treated equal because there is only one priceoption. The same holds true with compensation and hence I am sure this is wherethe real issue is with our fellow bankers." Another wrote, "In the non-depositorymodel, in the open market, all wholesalers have different pricing andadjustments for each given loan. The only reasonable way to ensure theborrower has the best opportunity at the best price and terms on a given day isto be able to have the ability to adjust borrower credit accordingly. If Ican get my client .25-.375 more going to lender B, C, or D, that's where I amheaded."
Followersof the Treasury Department's HAMP program will need to update their shortcutsto the latest version of the HAMPHandbook, Version 3.4. Treasury issued the latest HAMP Handbook, theconsolidated guidance related to HAMP for non-GSE mortgage loans, on 12/15. Version3.4 of the Handbook includes all of the prior Supplemental Directives,including those with effective dates after the publication of Version 3.3. Inaddition to these updates, Treasury announced that Version 3.4 includes certainclarifications addressing: (1) ARM loan eligibility (to qualify for HAMP, theborrower's monthly mortgage payment ratio prior to the modification must begreater than 31%); (2) Timing of response to initial packages (the servicermust acknowledge receipt of the Initial Package within 10 business days, forexample); and (3) "Escalated Cases" and pending litigation. It is best to readit.
Forlenders and investors, the news continues.PHH employees may have had a somewhat worrisome weekend. S&P downgradedPHH's ratings, and its new debt yielded 9.5%. Industry vet Joe Garrett noted,"It wouldn't surprise us if you see PHH get out of the correspondentbusiness, or maybe just scale it back." Its stock has certainly taken atumble.

United Guarantee reminded the industrythat, "MI tax deductibility is scheduled to lapse at midnight, December 31.If you have mortgage loans in process that would qualify for MI tax deductibility,now's the time expedite them to retain this benefit for your borrowers whoqualify! MI tax deductibility will also lapse for FHA and VA loans, which wereextended under the same law as private MI."
Home Savings of America reminds its brokers that, "TheDodd-Frank LO compensation requirements prohibit an originator/broker fromreceiving dual compensation, i.e. compensation from both the lender and theborrower. Under Lender Paid Broker Compensation, fees paid in advance by thebroker, e.g., credit report, appraisal fee, VOE fee, HOA certification, cannotbe paid for by the borrower to the originator/broker at closing. If theborrower is to pay Third party fees, they must be paid by the borrower directlyto the vendor at closing through the closing agent. Under Borrower Paid BrokerCompensation, fees paid in advance by the broker, e.g. credit report, appraisalfee, VOE fee, HOA cert, can be paid by the borrower to the originator/broker atclosing."
Interbank Mortgage Company now allows reduced appraisals forowner occupied condos. Interbank is also changing its Lender Paid Comp settings,and starting 1/1 will allow these options: a floor, a ceiling, a percentage,and a percentage plus flat fee option. A processing fee will not be allowed. "Thismeans, regardless of the lock date, or the date the application is signed bythe borrower, the comp plan is effective when Interbank receives the loan."
Texas-basedSupreme Lending is expanding itsreach, with the recent announcement that the company added five branches inAlabama doing "nearly $500 million in mortgages per year." (Editor's note: Seehow it is easier to talk about volume than it is profit margins?)
Last weekwe had a slew of housing news, capped off by learning that New Home Sales forNovember were up 1.6%, with a median sales price of $214,100 and an averagesales price was $242,900. But look at these regional differences: sales in theNortheast fell 26%, the West was -17%, but the Midwest improved by 7.5% and theSouth by 13%. But there was no holiday cheer for bonds, as 10-yr T-notes movedup to close at 2.03%. But remember it was an early close for the bond market,and trading desks were half-staffed to begin with.
Foreconomic news on this holiday-shortened, lightly-staffed, last week of theyear, we don't have much. Today is a Case-Shiller number and ConsumerConfidence, Thursday is Jobless Claims and Pending Home Sales, and then onFriday is the Chicago PMI numbers. And so far things seem pretty quiet outthere, rate-wise, with prices little changed from Friday's close.

A Missouri farmer in his pickup, drove to a neighbor's, and knocked at thedoor. A boy, about 9, opened the door.
"Is your Dad home?"
"No sir, he isn't; he went to town."
"Well, is your Mother here?"
"No sir, she went to town with Dad."
"How about your brother, Howard? Is he here?"
"No sir, He went with Mom and Dad."
The rancher stood there for a few minutes, shifting from one foot to the other,and mumbling to himself.
"Is there anything I can do for you? I know where all the tools are, ifyou want to borrow one, or I can give dad a message."
"Well," said the rancher uncomfortably, "I really wanted to talkto your Dad. It's about your brother Howard getting my daughter, Suzie,pregnant."'
The boy thought for a moment. "You would have to talk to Dad about that. Iknow he charges $500 for the bull and $50 for the hog, but I don't know howmuch he charges for Howard."

If you're interested, visit my twice-a-month blog at the STRATMOR Group website located at www.stratmorgroup.com. The current blog discusses the timeframes for borrowers returning to A-paper status after a short sale orforeclosure. If you have both the time and inclination, make a comment onwhat I have written, or on other comments so that folks can learn what's goingon out there from the other readers.

http://www.mortgagenewsdaily.com/channels/pipelinepress/12272011-fha-waiver-mi-tax-deductible.aspx

Developer eyes shift to 'rentership society'

2011-12-27T08:00:00.001-08:00

Developer eyes shift to 'rentership society'

http://lansner.ocregister.com/2011/12/27/apartment-developer-eyes-shift-to-rentership-society/156326/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Orange County Register Mobilleader eyes slow housing recovery

2011-12-26T08:37:00.001-08:00

Realtors leader eyes slow housing recovery

http://lansner.ocregister.com/2011/12/25/o-c-realtor-leader-eyes-slow-housing-recovery/155693/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Newport Beach Pier Marker, unique

2011-12-26T08:33:00.001-08:00

Helping kids buy homes

2011-12-25T09:30:00.000-08:00

With the economy in turmoil and mortgage money tight, it's not easy to buy a home these days, especially for young adults. Many are getting helping hands from their parents.

The Barton family

• More parents helping kids buy homes

Name: Mitchell Barton

Hometown: Tigard, Oregon

Mitchell Barton's parents, Curtis and Bridget, helped guide him through the minefield of first-time homebuying with good advice on how to shop for a house and by connecting him with a family friend who was an agent for Better Homes & Gardens Real Estate.

"Most important, we provided the bulk of his down payment as a gift," said Curtis, who works as a water quality inspector. "Because of our help, he qualified for the best interest rate, and his principal was substantially lower, both of which in turn made his monthly payments affordable."

Mitch has a good job for a 27-year-old; he's an engineer at FLIR Systems, a maker of night vision and infrared equipment. Still, he simply hasn't had enough time to build up his savings. Without the $25,000 his parents came up with, he probably couldn't have afforded the modest three-bedroom house he bought in suburban Portland.

His parents -- who had gotten help from their parents 30 years ago to purchase their first home -- were glad to help. "I don't see this as anything unusual," said Bridget. "It's something that families should do if they can."

Mitch said that he has always been close to his parents but, "this is a milestone in our relationship." He added that he feels a firmer sense of responsibility and maturity and his parents are very confident that he will handle himself well.

"We know our son will continue to work and pay his bills on time, so it made sense to help him get started on building equity and building his life," said Curtis.

http://money.cnn.com/galleries/2011/real_estate/1112/gallery.parents-buy-children-homes/

The train to nowhere' legend, unmasked

2011-12-24T08:20:00.001-08:00

Why does everyone want to beat on Fresno?

'Train to nowhere' legend, unmasked

http://taxdollars.ocregister.com/2011/12/23/train-to-nowhere-legend-too-good-not-to-print/144896/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

tax cut may hurt housing market

2011-12-23T20:45:00.001-08:00

Payroll tax cut may hurt housing market

The new mortgage fee to fund the temporary extension of the payroll tax cut could damp the still-sluggish real estate market and complicate efforts to overhaul the nation's wounded housing finance system.

The full story can be viewed at: http://www.latimes.com/la-fi-1224-housing-fees-20111224,0,7252299.story?track=latiphoneapp

Get the Los Angeles Times iPhone app from iTunes: http://www.itunes.com/apps/latimes

Thomas M Abercrombie

California DVBE

DGS 46015

DRE 00526572

Decline in U.S. Home Values to Be Smallest in Four Years, Zillow Reports- Bloomberg

2011-12-22T13:48:00.001-08:00

http://mobile.bloomberg.com/news/2011-12-22/decline-in-u-s-home-values-to-be-smallest-in-four-years-zillow-reports?category=%2Fnews%2Feconomy%2F

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Broker eyes rising foreclosures in ’12

2011-12-22T10:20:00.000-08:00

One brokers opinion that I agree with

Welcome, Al …

Us: How will 2011 be viewed when we all have a clear head? The bottom? More of the same? Year you’d rather forget?

Al: This year spring/summer sales were down over last year due to incentive programs from the State and Federal first time homebuyers tax credits.

Again in November, with FHA/Conventional Jumbo conforming loan limits reduced from $729,00 to $625,000, that had a negative impact on the move-up Buyer which in turn had a trickle down effect. Of course, consumer confidence in the Real Estate Market didn’t help us either.
The Median price of a home in Orange County was $426,389 (9/11) down from $445,000 last year, and down from $630,000 in the 2006 peak. I believe we have virtually hit the bottom to a more stable, flat market.

Sales were sluggish despite the lowest interest rates in 6 decades. However, the Sellers finally accepted the fact that they have to price their homes to sell competitively with the short sales and bank owned properties. This year, home Sellers did not look back to the price of years past, but rather only put their home up for sale if they needed to sell and priced the property to compete with the distressed properties.
Looking back, there was less overpriced inventory than I have seen in many years, and certainly within the past 5 years. To sell in 2011 the Seller either had to sell, priced to sell or are keeping their homes waiting to see when the market will rebound.

Us: What’s the outlook for 2012?

Al: 2012 could be a good year for a few reasons. First, the FHA low limits increased back to $729,000 which will allow borrowers to get better rates on a higher loan balance, which is particularly important in our Southern California market place. Second, because it is an election year, we all know there will be pressure on the Feds to keep the interest rates low.

On the flip side, Bank foreclosures were down by 15% this year, mostly due to the banks embracing and encouraging the short sale process. However, the large institutions are announcing that they will be releasing many more foreclosures this year. While that may be good for the first time Buyer or Investor, this will put more downward pressure on prices for the Equity Sellers to compete with the distressed properties.
As more people sell their distressed properties, the rental market will continue to experience less vacancy, increased rents are encouraging more Investors to enter the market. Multifamily purchases will be brisk.

Us: How will the political discourse impact the industry in the coming election year?

Al: The best prices in the world and the lowest interest rates in decades mean nothing if the potential Buyers can not get the loans to purchase the property. Changes in the lending industry, stricter guidelines, lowering loan limits, restricting investors to 10 or less properties and the tax implications of their investments will dictate the market.

Of course, unemployment will also play a major factor in the pool of Buyers available to purchase. Fortunately, Orange County ranks 6th nationally in total population, 4th nationally in the median household income and has one of the lowest unemployment rates in the county.
We are lucky to live and work in Orange County. Our local market is in much better shape than our neighboring counties.

[ Previously: Eyeball '11 | '10 | '09 | '08 | '07 ]

http://lansner.ocregister.com/

OC home values tumble $14.7 billion

2011-12-19T21:01:00.000-08:00

O.C. home values tumble $14.7 billion

http://lansner.ocregister.com/2011/12/19/o-c-home-values-tumble-14-7-billion/155863/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Bernanke Joins Bargain Hunters Who Refinance

2011-12-19T15:14:00.001-08:00

Ben Bernanke lives in a three-bedroom, 2,100-square-foot, attached town house near the Capitol. It has an appraised value of roughly $850,000, not far from the $839,000 he paid for it in 2004. A public record search shows he owes $672,000 on the home, after refinancing his mortgage twice.

One refinancing was in late 2009. The other was in late September, shortly after the Fed announced a new program, known as "Operation Twist," which aimed to drive down long-term interest rates.

After a decade in Washington, Mr. Bernanke doesn't seem to have been swept up by the nation's capital.

He doesn't read books about the financial crisis. When asked in September if he had seen a recent HBO movie about it, he said he hadn't: "I saw the original."

Category: MBS, FED, INDUSTRY

» Read More Here

Appraises, O.C. home prices dip 4.1%

2011-12-19T12:18:00.001-08:00

Appraisers say O.C. home prices dip 4.1%

http://lansner.ocregister.com/2011/12/19/appraisers-say-o-c-home-prices-dip-4-1/155853/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Got LIBOR loan? Maybe it’s time for a fixed loan

2011-12-18T07:34:00.000-08:00

Q. Why is the six-month LIBOR rate increasing so rapidly after having sat at around 0.45 percent for so long? It has climbed quickly in the last few months to 0.63 percent. I have a loan tied to this rate and worry that it will continue to climb.
Also, why are banks making it so hard to refinance an existing loan? I am self-employed.

A. The six-month LIBOR (London Interbank Offered Rate) index has risen to 0.76 percent just since you wrote. I will give you “reasons,” although they are suppositions because no one knows.
As a general rule, rates go up the more uncertainty there is. With the perfectly awful situation in Europe as it struggles with the sovereign debt issues, I’m astonished it isn’t higher. The yield on Greek bonds is now over 30 percent, not 0.30 percent – a full 30 percent, 100 times higher.
While the move from 0.45 percent to 0.788 percent seems like a big jump, you are still talking about rates less than 1 percent. On a $100,000 loan, that’s only $300 or $25 per month.
I think you are safe for the next year, but you should take advantage of low fixed rates. It is time for you to get off any kind of variable loan and onto a fixed one. It may well be that you are having trouble with that, if I get the full meaning of your comment.

Actual loan quality today is very high, so lenders ought to be a little more understanding. But, bluntly, Fannie Mae and Freddie Mac and other investors have created an aura of fear that permeates the industry today. Retail lenders are afraid of making a mistake and having to buy a loan back because of some minor oversight that has nothing to do with the actual loan. If your loan “looks risky,” perhaps because it is complicated, it is just easier for them to deny your loan and move on.
A sharper loan agent could figure out how to get it done. I would not give up, but I would be careful in selecting a better person to help you.

Q. I live in a small condo community in Costa Mesa that has 51 units. It is a lovely community with lots of tall trees and creeks throughout and minimal deferred maintenance.
There is a handful of short sales and REOs available. Financing seems to be the problem with closing a sale.

The reason I’ve been told is the high HOA delinquency rate, which is 15 percent or more. Most banks decline financing once the discover this fact.
That said, I have been told that direct lender financing is the way to go. How do i find a “direct” lender?

A. The problem is that there are certin expenses incurred by the homeowners association and if 15 percent of the unit owners aren’t making payments, something has to give. Either cut expenses or increase the dues or have an assessment to cover the shortfall. None of these is good. A lender does not want to get involved in this because they see it as buying a problem.

If I were a seller or buyer in this kind of situation, I would go to the association’s president and offer to make up the back payment for the person who is least in arrears. That gets the delinquency rate down to 14 percent and that solves the short-term problem. It does NOT solve the long-term problem and, as an owner, you should be pro-active in pressuring the board to act before it gets more serious.

That’s it. If you want Johnson to answer a question, email it to Maurine Pool at mpool@ocregister.com

Wild western style near Joshua Tree

2011-12-18T07:31:00.001-08:00

Most may not have never heard of Pipes Canyon, a butte-studded piece of high desert north of Joshua Tree National Park. But for Paul Goff and Tony Angelotti, Santa Monica residents who built a second home here, Pipes Canyon is more than an escape from the city. It's a second life, a place where they sit down with friends for holiday dinners under the desert stars.

Pipes Canyon house

( Gina Ferazzi / Los Angeles Times )

By David A. Keeps
Friends gather by the flowing garden fireplace and outdoor dining table of the pueblo-style residence, whose generous patio spaces easily accommodate two-dozen. The guest house is on the right.

For Sale: 447 Irvine Ave Newport Beach, CA 92663 - $927,000

2011-12-17T15:41:00.001-08:00

http://socal.kurio.mobi/property.kurio/details/U11002544-1240-cache-U11311-_447__Irvine__Avenue

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

Home prices could take 4 years to stabilize

2011-12-16T06:16:00.000-08:00

Tired of Orange County’s home price roller coaster ride?
Well, there may not be an opportunity to get off for four more years. One local real estate agent says home prices may not stabilize until late 2015 to 2016.
Another agent says home shoppers are so tired of waiting to buy a home that sales will see a surge right after the new year. A third predicted that 2012 will be “a Muddle Through market.”
These were among the observations local agents shared with us this week in response to the latest housing figures showing that the Orange County home prices fell last month to a 31-month low.
We asked agents three questions:

What happened to home sales and prices in O.C. in November?
How would you characterize the housing market for the year just gone by?
What are the prospects for the housing market in 2012?

Here are some of their responses:
Tom Moon, Pacific Moon Real Estate, Huntington Beach
“It appears housing sales are on an upswing, while prices will still be on the downswing for several more years. Our goal would be for prices to stabilize, maybe in late 2015 to 2016.
“There is pent-up demand to purchase, and prices are getting more affordable. If we could employ more folks, then we would even have more sales, since there are more low down-payment FHA purchasers than I have seen in my 30 years in the business.”
Phil Schaefer, Seven Gables Real Estate, Santa Ana
“Whenever we compare a particular month or ZIP code, it basically gets down to the mix of homes selling in that window vs. the mix in the same window at some earlier time, which can be very skewed.
“Many distressed properties are working their way through the long process with the banks. What was the mix of distressed homes included in these numbers? I saw some homes that had been in escrow for many months finally close in November.
“(But the price drop was) not really a surprise since the government let the high cost loan limits expire in September. The change from $729,750 to $625,500 easily accounts for the drop in average price. It is very difficult to obtain financing today let alone in a higher price especially if you are self employed. Even though they have restored these limits now, banks were not making those loans in that time period these closings reflect.”
Vincent Bindi, eVantage Real Estate, Mission Viejo
“The rate of sales has actually held more or less steady throughout most of this year in Orange County, with approximately 2,000 property closes per month. November falls in line with these averages.
“The biggest change is that the number of homes in inventory has dropped from about 11,150 in June, down to 8,700 today. Home prices had been holding steady through most of 2010, but started a slow decline in November of last year, through this November.
“The year 2011 was a mixed bag. On the one hand, the rate of sales increased by around 20% from the same time last year, but the average price of single-family homes and condos dropped by 8% and 11.2% respectively.
“I expect the year of 2012 will be what’s termed as a Muddle Through market. I expect to see home prices holding steady throughout 2012, or possibly a bit smaller decline, and then prices holding steady. The rate of sales has been improving, and days on the market have been declining.”
Dick Lobin, Century 21 Olympic Team, Westminster
“Sales are just bouncing along the bottom. A minor rise or fall is rather insignificant. A rise in activity may indicate some bargain hunting if suitable inventory happened to come on the market that month.
“2011 will end as it started. Rather unexciting and lackadaisical, leaving most agents who aspire to be top producers in sales to continue to be involved heavily in short sales, most often to their chagrin.
“The consensus is that 2012 will be a repeat, or three peat, or however you want to term it. Just more of the same. I believe and most believe nothing significant will happen until after the November 2012 election. 2013 is hoped to be the turnaround year.”
Mac Mackenzie, Coldwell Banker, Irvine
“Buyers and sellers have come to grips with the ‘new normal.’ … Buyers understand that they can afford much more home with interest rates under 4%. That, combined with increasing rental prices, has made several of our “fence-sitting” buyers move forward and purchase a home.
“Only serious (equity) sellers remain on the market at this point. Sellers have finally given up waiting for the ‘good market’ to return, and realize that if they have somewhere to go (due to job transfer, retirement, needing more space for a growing family, etc.), they need to get their money out of their current home and start their futures.”
Tom Pelton, manager for Prudential California Realty in Fullerton and Brea
“The market this year has been predominately investors and first-time homebuyers. I think you will see a strong ending to 2011 as investors look to finish up 2011 business.
“Reality Check is another way to describe 2011. There is still a huge gap between what sellers want and what buyers are willing to pay.
“I’m anticipating a surge in sales right after the new year due to pent-up demand.”

http://lansner.ocregister.com/2011/12/16/home-prices-could-take-4-years-to-stabilize/155457/
.

Refi's Continue to be Strong - Who is Refinancing? Google Suspends Lead Generation

2011-12-14T20:13:00.000-08:00

A pig anda chicken are walking down a road. The chicken looks at the pig and says"Hey, why don't we open a restaurant?" The pig looks back at thechicken and says "Good idea, what do you want to call it?" Thechicken thinks about it and says "Why don't we call it 'Ham andEggs'?" "I don't think so" says the pig, "I'd be committed, but you'd only be involved."

LO's committed to refinances continueto be encouraged by the mortgage application numbers. The latest numbers (thismorning, for last week) from the MBAshow that applications for refinancing on home mortgages were up over 9% lastweek versus a drop of about 8% for purchases. Overall, apps were up 4.1%.The refinance share of total mortgage activity rose to 79.7 percent ofapplications from 76.0 percent the week before. How long have we heard, "Well,those refi's are going to go away at some point!"? That is true, but not quiteyet.

Who isrefinancing, and how are they doing it? Math and statistics majors have beenslicing and dicing the numbers for us. Prepaymentshave been concentrated in the largest, best-credit loans, with TPO (broker biz/providing a substantial boost. "The money doesn't get any hotter than15-years (outstanding credit) and 5/1 hybrids (serial refinancers)" said oneanalyst. LO's know that they have already rifled through the easiest loans intheir rolodexes. What's also interesting is that the primary-secondary mortgagerate spread (rate sheet versus MBS + servicing value) has been holding around80 bps (based on the Freddie survey rate), indicating that originators aremaintaining healthy margins. But correspondent lending capacity continues to bea big problem - and there's no way that this phenomenon translates into a morecompetitive origination environment or faster prepayments.

Sterne, Agee & Leach, Inc. produced an extensive research piece(not for redistribution by me, so if you're interested in learning more about SterneAgee and the analysis contact Kevin Cavin at kcavin@sterneagee.com) which analyzedvarious prepayment speeds. It is, of course, not as simple as it was 20 yearsago, when, if current rates were .5% lower than the borrower's rate, it madesense to refi. "Information is king." Prepayment speeds are not onlybased on rate, but also loan size, current LTV, owner occupancy, TPO versusretail, servicer ((Provident, Fifth Third, and Citi are very efficient), state,loan type (rural housing, for example), and so on.
In Georgia(where in Gainesville, the Chicken Capital of the World, it is illegal to eatchicken with a fork), the deal between Flagstarand PNC Bank closed, with "Flag" selling its 27-branch retail bankfranchise to PNC. The deal was announced earlier this year, and follows Flagstar'sDecember decision sell off of its Indiana branches. (The total number of bankfranchises sold stands at 49.)

And over in Washington, remember WAMU? They're baaaack... or are they? Checkout http://m.apnews.com/ap/db_8560/contentdetail.htm?contentguid=CAIJZ7CK.

OccasionallyI am asked about credit scores for FHA loans (remember that many underwritingcriteria are determined by the investor/aggregator). Here is a site for thosewannabe government underwriters out there: http://www.homebuyinginstitute.com/news/fha-credit-scores-199.

In somenews for internet-based lenders, Google hassuspended its rate search and lead generation tool in all but four states andthe District of Columbia. I am always the last to hear, but although itmade news yesterday the "scaling back" of Google Comparison Ads took place on11/21. Mortgage rate searches from Google are still available in Alabama,Alaska, California, Pennsylvania and Washington D.C. Supposedly Google is preparinga reboot of the service (by hitting control, alt, delete). "It wasexplained to me as being a temporary transition to allow them to better focusin on a smaller market and then once they've proven out the enhancements thatthey want to make, they want to thoughtfully broaden it back to the stage whereit is national again," Bruce Backer, the president of LoanSifter, explained.
In vendor news,DocuTech (mortgage compliance servicesfor mortgage documents) has acquired the assets of Lender Support Systems (LSSI)Docs3D mortgage document software from parent company, Emphasys Software. "Theacquisition of LSSI's Docs3D software and customer base enables DocuTech tocontinue growing its existing presence among regional banks and credit unions.Current LSSI customers will see no disruption of services and can look forwardto benefitting from the expanded compliance services offered by DocuTech,including dedicated legal staff tracking all regulatory changes and monthlyupdates to ensure all systems are up-to-date."

MIAC sent out news yesterday to theindustry focused on FHFA's proposals to modify the structure of mortgageservicing fees. FHFA is requestingpublic input on the two proposals and the comment period expires on December 25."MIAC is strongly recommending that you contact FHFA to voice your opinion onthis matter. Written materials may be submitted to FHFA at

Servicing_Comp_Public_Comments@fhfa.gov."MIAC believes that the changes are bad news for small servicers. "In the existingservicing compensation model, servicers retain an economic interest in theperformance of the loans they are servicing. Since non-performing loans are more costly to service than currentloans, the servicer is incentivized to reduce the level of delinquencies inorder to maximize profits. Any proposal that compensates a servicer withadditional fees for non-performing loans simply doesn't make sense, since itencourages servicers to allow performance to deteriorate. Furthermore, a flat fee-for-service model would represent a net decrease inoverall servicer compensation and would ultimately cause mortgage servicing tobecome nothing more than a business requiring massive economies ofscale. The obvious result is that the industry would undergo furtherconsolidation, forcing smaller and medium-sized servicers to exit the businesscompletely. The adoption of the FHFA proposal will have a major impact on themortgage industry and will dramatically change the economics of servicingresidential mortgage loans. While this may be beneficial formega-servicers to help them comply with capital requirements under Basel III,it will have a negative effect for all other small and medium-size servicers,and would effectively reduce the role of all servicers to that of a subservicerfor Fannie Mae and Freddie Mac." The original paper can be found at:
http://www.fhfa.gov/webfiles/22663/ServicingCompDiscussionPaperFinal092711.pdf.
Forinvestor news, SunTrust announced thate-mail will soon replace webdocs and faxing. Also, starting a few days ago, SunTrusteliminated Agency Affordable Lending Loan Programs MyCommunity and "Teacher,Healthcare Worker and Safety 1st Loan".

ING sent word out to its broker clients that, "Openenrollment to revise your company's 1st Quarter Lender-Paid Compensation planruns through December 23rd. If your plan will not be changing, you DO NOT needto do anything. Your current comp plan will remain in place if yourcompany does not elect to make any changes. If your company chooses a new planit will take effect on loans submitted January 1^st and after. Youmust confirm with your company's authorized officer or owner which plan hasbeen selected before submitting a loan as Lender-Paid. Any applicationsAdvance-Locked prior to January 1st, and submitted on or after January 1st,will be subject to your new 1st Quarter Lender-Paid Compensation plan."
Thingscontinue to be fine on the interest rate area. Reuters noted, "A strong 10-yearnote auction and uneventful FOMC statement rallied the bond market following alower start as supply and uncertainty kept investors cautious. 10-year notesrecovered from an intraday low of -14/32nds this morning to be marked 14/32ndshigher to 100-11 (1.962%)." This accounted for several investor rate sheet priceimprovements, and MBS prices closed higher/better by over .250. As expected theFOMC notes said little new: "Strains in global financial markets continueto pose significant downside risks to the economic outlook." The FOMC saidit would keep its target range for Fed Funds holding at 0 to 1/4 percent throughat least mid-2013,

while principalpaydowns from agency debt and MBS securities would continue to be reinvested inMBS.

Forthrills and chills today we have a $13 billion 30-year bond auction that goesoff at 13:00. We also saw Import Prices for November, called at +0.9% from arevised -0.5%, were +.7%. But few seem overly concerned with inflation at thispoint in the economic cycle. The focus continues on Europe, and some debtauctions over there. So far this morningwe're unchanged in bonds from Tuesday afternoon with the 10-yr at 1.96%.

Boudreaux,a furniture dealer from downtown New Iberia decided to expand the line offurniture in his store, so he decided to go to Europe to see what he couldfind.
He arrived in Paris in early morning, but had an afternoon appointment with thefurniture maker, so he decided to visit a small bistro during his wait.
As he sat enjoying his wine, he noticed that the small place was quite crowded,and that the other chair at his table was the only vacant seat in the house.Before long, a very beautiful young Parisian girl came to his table, asked himsomething in German (which Boudreaux couldn't understand), so he motioned tothe vacant chair and invited her to sit down.

He tried to speak to her in English, but she did not speak his language. Aftera couple of minutes of trying to communicate with her, he took a napkin anddrew a picture of a wine glass and showed it to her. She nodded, so he ordereda glass of wine for her.

After sitting together at the table for a while, he took another napkin, anddrew a picture of a plate with food on it, and she nodded. They left thebistro and found a quiet cafe near-by that featured a small group playingromantic music. They ordered lunch.... after which he took another napkin anddrew a picture of a couple dancing.
She nodded, and they got up to dance. Boudreaux never had so much fun!

Back at their table, the young lady took a napkin and drew a picture of afour-poster bed, which reminded Boudreaux of his appointment, so he abruptlyleft.
To this day Boudreaux still has no idea how she figured out he was in thefurniture business.

If you're interested, visit my twice-a-month blog at the STRATMOR Group website located at www.stratmorgroup.com. The current blog discusses the timeframes for borrowers returning to A-paper status after a short sale orforeclosure. If you have both the time and inclination, make a comment onwhat I have written, or on other comments so that folks can learn what's goingon out there from the other readers.

http://www.mortgagenewsdaily.com/channels/pipelinepress/12142011-sterne-agee-refinancing.aspx

Average down payment on CA home 13%

2011-12-14T17:35:00.000-08:00

Down payment on a Calif. home averages 13.25%

http://lansner.ocregister.com/2011/12/14/down-payment-on-a-calif-home-averages-13-25/155466/

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

For Sale: 10264 Swallow Ave Fountain Valley, CA 92708 - $569,999

2011-12-14T11:08:00.001-08:00

http://socal.kurio.mobi/property.kurio/details/S678276-1240-cache-U11311-_10264__Swallow_Avenue

Thomas M Abercrombie
California DVBE
DGS 46015
DRE 00526572

57% of O.C. escrows are distressed homes

2011-12-13T07:49:00.000-08:00

Steve Thomas of ReportsOnHousing.com publishes every two weeks a report on the supply of local homes for sale and the share of that inventory that’s distressed properties — foreclosures and short sales. His latest report — as of December 8 — says …

3,357 distressed Orange County properties were listed for sale — 38% of the 8,905 listed overall.
1,484 new escrows were opened to buy distressed Orange County properties in the past 30 days. That is 57% of the 2,589 new pending sales countywide.
Thomas calculated “market time” — cross of supply and new escrows showing how long, theorhetically, it would take to sell inventory. Using that “market time” math, there’s 2.26 months worth of distressed properties on the market vs. 5.02 months worth of non-distrssed homes. So, distressed homes currently sell 2.2 times faster than non-distressed homes.
19% of the distressed listings were foreclosures being sold by banks.
81% of the distressed listings were short sales.
47% of the distressed listings were attached homes.
53% of the distressed listings were detached homes.
93 of the listed distressed homes were price above $1 million — 3% of all distressed listings.
2,623 of the listed distressed homes were priced $500,000 or less — 78% of all distressed listings.
Chart summarizes trends in Thomas’ report, distressed counts and share of all listings (plus, pending sales and market time — demand divided by inventory.)

http://lansner.ocregister.com/

Thomas writes:

“Logically, as the current downturn continues to roll on, it has been everybody’s assumption that not only would the short sale process improve, but so would the number of successfully closed short sales. Sometimes markets defy logic. In 2011, through November, there have been 5,900 closed short sales, down 7% from 2010. The overall market is down, but by only 4%. The equity seller market, that’s homeowners with actual equity in their homes (yes, we came up with a term for good ol’ fashioned sellers), is down 6% for the year. However, the counterpart in the distressed marketplace, foreclosures, is up 12% year over year. That’s correct; the number of closed foreclosures has increased substantially year over year. I am still scratching my head trying to figure this out.”

Highlights …

All O.C.	Distressed	All	Pct. Distress
Total	3,357	8,905	37.7%
By type of distress	Pendings	Listed	Time (months)
O.C. foreclosures	408	625	1.53
O.C. short sales	1,076	2,732	2.54
By home type	Distressed	All	Pct. Distress
Attached homes	1,582	3,468	45.6%
Detached	1,753	5,408	32.4%
By price slice	Distressed	All	Pct. Distress
O.C. $0-$250k	946	1,681	56.3%
O.C. $250-$500k	1,677	3,226	52.0%
O.C. $500k-$750k	496	1,753	28.3%
O.C. $750k-$1m	137	775	17.7%
O.C. $1m-$1.5m	48	525	9.1%
O.C. $1.5m-$2m	23	334	6.9%
O.C. $2m-4m	14	420	3.3%
O.C. $4m+	8	259	3.1%
By city/High share	Distressed	All	Pct. Distress
Portola Hills	11	15	73.3%
Rancho Santa Margarita	97	141	68.8%
Ladera Ranch	87	134	64.9%
By city/Low share	Distressed	All	Pct. Distress
Seal Beach	247	11	4.5%
Corona Del Mar	121	6	5.0%
Laguna Woods	365	32	8.8%

Re: 58 years later , clothes still fit from Ireland

2011-12-12T16:33:00.001-08:00

You look grrrrreat!

Ashley Abercrombie
714.393.0484
AshleyMabercrombie@Mac.com
Ashley-abercrombie.com

On Dec 12, 2011, at 6:58 PM, Thomas M Abercrombie <ewastedisposal@gmail.com> wrote:

>
>
> <photo.JPG>
>
>
>
>
> Thomas M Abercrombie
> eWaste Disposal, Inc
> (949) 466 8857
> California DVBE DGS 46015
> DRE 00526572
>
>

58 years later , clothes still fit from Ireland

2011-12-12T15:58:00.001-08:00

Look north for O.C.'s hottest housing

2011-12-12T12:21:00.001-08:00

Look north for O.C.'s hottest housing

http://lansner.ocregister.com/2011/12/11/north-o-c-has-fastest-homebuying-growth/155368/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

If your landlord is facing foreclosure, stay put

2011-12-12T09:31:00.000-08:00

Outside of a doctor's office, few notices are more terrifying than an eviction.

Since the housing bust, more than 8 million properties in this country have gone into foreclosure. An estimated 40% of the people living in those homes were, and are, tenants, according to RealtyTrac, a foreclosure marketplace, and the nonprofit National Low Income Housing Coalition.

Being uprooted is frightening for anyone. But renters endure added stressors: They often are the last to know that a foreclosure is in the works, having paid their rent faithfully each month; and they typically are the most misinformed about their own rights, through no fault of their own.

While a 2009 federal law requires that tenants be allowed to stay for the duration of their lease or, without a lease, for at least 90 days, no federal agency oversees the law's implementation, says Linda Couch, senior vice president for policy and research with the housing coalition.

A slap on the wrist for mortgage lenders?

Date:7/13/2011Duration: 006:0019Video By: The Dylan Ratigan Show

July 13: Fusion IQ’s Barry Ritholtz shares his thoughts on a report that five of the biggest mortgage lenders will pay a $30 billion settlement and pledge to do better going forward when it comes to foreclosure and mortgage-servicing homeowners.

: gal_hippo_baby

2011-12-09T11:09:00.001-08:00

Have a memorable Friday!

Sent from Carbonite Inc. (www.carbonite.com).

Thomas M Abercrombie

eWaste Disposal, Inc

(949) 466 8857

California DVBE DGS 46015

DRE 00526572

Orange County Register Mobile story - Pearl Harbor casualties included O.C. men

2011-12-06T18:30:00.000-08:00

Pearl Harbor casualties included O.C. men

http://www.ocregister.com/travel/killed-330215-harbor-action.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

Vietnam in HD - Operation Lam Son | Military.com

2011-12-06T16:43:00.000-08:00

Vietnam in HD - Operation Lam Son | Military.com

Miss December

2011-12-05T08:12:00.001-08:00

Name this place in Newport Beach Ca

2011-12-04T12:19:00.000-08:00

Facebook and, iPads to change homebuying

2011-12-03T13:46:00.001-08:00

Facebook, iPads to change homebuying

http://lansner.ocregister.com/2011/12/03/facebook-ipads-to-change-homebuying/154975/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

Wind damage: Does insurance cover it?

2011-12-02T11:21:00.001-08:00

Wind damage in Trabuco Canyon? Likely not covered!

Wilds are howling. Trees are falling. Debris soars through the sky. And property owners have damage.
See details from The Register’s Pat Brennan in Winds rise in O.C., rage in L.A.!
So, will your insurance cover it?

Here’s some quick and broad answers from the
Insurance Information Network of California, who reminds you to check with your insurer or insurance agent to see the exact coverage you have. Also, remember your coverage can be limited by deductibles and other nuances located inside the policy language.

Q. Tree fell on my home. Am I covered?
A. If a tree falls and damages an insured home, both the damage to the property and the cost of tree removal are typically covered within the limits of the homeowner’s insurance policy. Tree removal is generally covered up to $500.

Q. A tree’s down in my yard. Will insurance pay?
A. Probably not. Should a tree fall — but not damage the home, tree removal is typically not covered by insurance.

Q. Will insurance pay for a new tree?
A. Damage to trees and shrubs is typically covered due to losses from vandalism, theft and fire. Yet insurance generally will not replace greenery damaged by a storm.

Q. Tree hit my car. Now what?
A. Damage from falling debris is covered by your auto’s “comprehensive” coverage — if you have it. That’s the coverage for any loss that’s not crash-related such as fire — including when a car’s in a home’s garage; flooding; theft — and falling trees.

Q. Tiles blew off my roof. Will insurance help?
A. Roof damage would be covered. Physical damage to the home and/or possessions related to roof damage would be covered, too.

Q. Wind toppled my fence. I’m afraid to ask …
A. Fence would only be covered if it was attached to the main structure, or if the homeowner had additional coverage for it. Fences are a gray area, because some are structures — brick, cement — that are part of the main structure. In cases where the fence is a wood fence, the coverage would be much more limited.

http://lansner.ocregister.com/

Beautiful Costa Mesa Landscape

2011-11-30T10:16:00.001-08:00

Real estate prices in steepest fall in 2 years

2011-11-29T14:59:00.001-08:00

Ouch

L.A./O.C. home prices in steepest fall in 2 years

http://www.ocregister.com/articles/home-329105-prices-counties.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

For a OC man, it was day of the dolphin

2011-11-28T17:54:00.001-08:00

For O.C. man, it was day of the dolphin

http://sciencedude.ocregister.com/2011/11/28/for-o-c-man-it-was-day-of-the-dolphin/164243/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

Green Realtor drives 'Veggie Mobile'

2011-11-28T13:10:00.001-08:00

MORE PHOTOS »

Terry and Eileen Oldroyd converted their 1985 Mercedes 300D to run on diesel fuel or vegetable oil. Eileen uses the car to show houses to her real estate clients.

By JEFF COLLINS / THE ORANGE COUNTY REGISTER

Realtor Eileen Oldroyd kept up a steady banter as she shuttled her client from home to home in her metallic gray Mercedes.
There's a Ralph's grocery and a Chase branch on the left, she pointed out. There's Starbucks and Wahoo's and In-N-Out Burger nearby.

"Down here on the right is the entrance to the lake," she said as they approached their first stop, a complex near Lake Mission Viejo. "I chose this one because it has an attached garage."
The car chugged on, the passenger compartment filling with the faint odor of grease.
By all appearances, Oldroyd's car is a typical Realtor ride: Leather seats, air conditioning, AM-FM, sun roof. But there also are two fuel gauges – one for the diesel tank, the other for used vegetable oil salvaged from restaurants.
Oldroyd calls her Benz the "Veggie Mobile."
For the past five years, Eileen and Terry Oldroyd have run a brokerage out of their Mission Viejo home, often shuttling clients around Orange County, but also showing homes in far-flung Inland Empire locales like Temecula or Murrieta.
"The majority of our business is real estate. It is driving our clients around, showing properties and getting to know particular areas," said Oldroyd, 44, who easily puts 15,000 miles a year on her car.
Along the way, Eileen Oldroyd picked up a "green" Realtor certification and joined the Orange County Association of Realtors' green committee.
It occurred to her that she wouldn't be living up to her "Green Eileen" image if she continued to drive her SUV, getting just 15 to 17 miles per gallon.
And it was hard to make a living spending $30 a day on gasoline.
Thus the Oldroyds launched their search for a more environmentally friendly – and more economical – way to do their work.
After months of research, they came up with their plan to buy a car that runs on recycled vegetable oil. That, in turn, led to a whole series of experiences most real estate agents would never dream of.
There was the transaction involving gold bars, hiring a mechanic named Smokey and assembling a mini-oil refinery in their garage.

Living in their cars

Real estate agents practically live in their cars.
They're constantly on the road checking out neighborhoods and homes, winnowing properties for their clients to look at.
Then comes days of shuttling sometimes fickle clients from house to house trying to find a match that will result in a pay day for the agent.
"You preview (properties) in your car, and then you take your clients, and then, if they want to see (a home) again, you go back – again and again," said Jan Shomaker of SPS Realty, the OCAR green committee chair. "It's customer service. It's client service. You want to make it easy for them."
Shomaker estimates that she puts 30,000 to 37,000 miles a year on her Prius – so many that she's now on her second hybrid.
The median vehicle business expense for a U.S. Realtor is $1,680 a year, according to 2010 figures from the National Association of Realtors. Based on the IRS mileage allowance, that translates into an average of nearly 3,300 miles a year per agent.
Multiply that by 1.1 million Realtors nationwide, and it adds up to 3.6 billion miles – or $1.85 billion -- a year.

Paying in gold

Image is another factor. Agents tend to drive shiny, new SUVs, Benzes and BMWs, Eileen Oldroyd said.
"It wasn't suitable for a green agent," she said. "I needed to stand out more, and I wanted to live what I preached."
It helped that she has a husband like Terry, an English native with a technical gift.
Terry Oldroyd soon learned that the ideal car for their purpose was a Mercedes Benz built in the 1970s or '80s – cars with long-lasting diesel motors known as the "million-mile engine." And because it's a Mercedes, it's suitable for the upscale image real estate agents try to project.
It took awhile, but the Oldroyds eventually found a Huntington Beach engineer selling a pristine 1985 Mercedes 300D Turbo four door for $10,000. The engineer kept the car in his garage and even used a tooth brush to clean intricate spaces.
The Oldroyds happened to have invested in gold recently, so they offered to give the owner nine one-ounce gold bars plus cash for the car.
"Why would I take gold?" the engineer asked.
"Why would you take money?" Terry Oldroyd replied. The seller agreed – and since realized a 56 percent gain as gold prices soared.
Next, they found a Hawthorne mechanic named Smokey – a former bus mechanic versed in diesel engines – to add the tank, pumps and lines needed to run the car on both diesel and vegetable oil. Both fuels work since inventor Rudolf Diesel intended his engine to run on peanut oil.
Extra lines were added to heat the normally viscous vegetable oil with water from the radiator. A 15-gallon tank was installed in sedan's trunk.
Smokey charged the Oldroyds $700.

Liquid gold

Then came the task of finding used vegetable oil – greasy, old smudgy stuff that you can theoretically buy from restaurants – or get for free.
But it's dirty, and sometimes it's polluted with dead rats, Terry Oldroyd said.
So the Oldroyds linked into a network of "biodiesel" vehicle owners who frequently offer excess oil for sale on craigslist.
"I'm willing to pay 50 cents a gallon to have it in a container," Terry Oldroyd said.
But it's still not suitable to use as fuel for a Mercedes. It often has bits of food and other contaminants in it.
So Terry Oldroyd devised a system of refining the oil, allowing it to settle in 55-gallon drums at the side of his house. To speed up the process, he invented his own refinery in the garage, heating oil in one 55-gallon drum, then running it through a centrifuge in a second.
The final product is run through a pair of filters before he fills the tank in the back of the car.
Lifting the cover off the second drum, Terry Oldroyd says: "See how clean that is? That's liquid gold."
The final product costs the Oldroyds about a dollar a gallon. The car gets about 30 miles per gallon.
"It is awesome," observed Shomaker, the green committee chair. "Her husband is like an English MacGyver, and he's always creating these interesting things. He's quite spectacular."
Clients like the idea of the Veggie Mobile, although they joke that they crave fried foods after a session of house hunting, Eileen Oldroyd said.
When the car suddenly filled with the smell of oil during a trip down the 5 freeway, Eileen Oldroyd worried that her car had sprung a leak.
"I was just whiffing up the smells from an In-N-Out Burger," she realized.
"It's kind of quirky and nice, and people like it," Terry Oldroyd said. "It kind of brings to people's attention what we're paying for gasoline, ... (and) they getting kind of tired of it."

OC home sales chill hits the beach

2011-11-27T20:22:00.001-08:00

O.C. home sales chill hits the beach

http://lansner.ocregister.com/2011/11/27/o-c-home-sales-chill-hits-the-beach/153333/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

'American Dream' include renting?

2011-11-27T10:27:00.001-08:00

Does the 'American Dream' include renting?

http://lansner.ocregister.com/2011/11/26/does-the-american-dream-include-renting/153233/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

Photographer Lindsay McCrum documents 'Chicks With Guns'

2011-11-27T08:31:00.001-08:00

The title "Chicks with Guns" evokes visions of Annie Oakley, Calamity Jane or a really bad B-movie. Photographer Lindsay McCrum's book (Vendome, $45), an examination of the relationship between women and their firearms, dispels some stereotypes and reveals a surprising slice of present-day Americana.
Her portraits of female hunters, cops, Olympic biathletes and collectors are gorgeous, unsettling, entertaining and strangely elegant. Perusing the images without reading the personal essays is akin to watching a Merchant-Ivory film without the sound.

The women hail from different social levels, cultures and regions. They range from a tween-aged Rachel from Montana whose favorite gun is the .250 Savage "because that's the gun I used when I killed my first elk,'' to the grandmotherly Ellie, a sweet-looking former Merced, Calif., mayor surrounded by her doll collection and a Taurus Titanium .38 by her side
Here you learn of the depth of passion and respect for their guns, many passed down through generations. Described like fine wine or works of art, the stories express sentimental family traditions and relationships and note the enormous responsibility that comes with gun ownership.
Jenevieve, a beautiful blond bride from San Antonio, posed in her wedding gown holding an antique single-shot percussion dueling pistol. Being shown with her gun and dress were important because of their significance in her relationship with her father, who gave her the family heirloom as a wedding gift, and her husband, whom she met while skeet-shooting on a blind date.
"It was a collaborative effort, as the pictures had to make sense from the background, outfits and the gun," said McCrum, a Yale graduate who had a successful career as a painter before turning to photography. "It was an enormous privilege letting me take their portraits."
The book leaves politics in the background. "The only thing I shoot is a camera," said McCrum. "It's biography, not advocacy."
The photographer, who splits her time between New York and San Francisco, said the project was influenced by a mix of Margaret Mead, Diego Velázquez and German documentarian August Sander.
Themes of self-image and identity are evident in her work. It was while working on projects about boys and their toy guns, "Superheroes and Commandos," and girls in evening gowns, "Dress-Up," that she came across a magazine article about the big business of hunting and guns. Subsequently, she learned there are around 20 million female gun owners in the country. Her original intent was to shoot a dozen or so images for an exhibition to find out more about these women.
"Their excitement and enthusiasm propelled this project forward," said McCrum of her nearly four-year journey across 15 states. Of the more than 280 photos she snapped, 80 are included in the book.
Overheard at one shoot: "I think I own more guns than shoes."
-- Liesl Bradner
Photos, from top: Alison, Marlee, Lee and Margaret with Boss 20-gauge side-by-sides; Jenevieve of San Antonio with an antique single-shot percussion dueling pistol; Rachel of Livingston, Mont., with a Ruger 10/22 carbine. From the book "Chicks With Guns" by Lindsay McCrum. Photographer Lindsay McCrum. Credit: The Vendome Press.

prop 13 and who gets property taxes

2011-11-26T17:49:00.001-08:00

Prop. 13 and who gets property taxes

http://taxdollars.ocregister.com/2011/11/26/prop-13s-effects-on-property-tax-distribution/140523/

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

Thanksgiving in VietNam 1970

2011-11-26T16:02:00.001-08:00

http://youtu.be/LxMkfnAhK_A

For Sale: 1073 Dover Dr Newport Beach, CA 92660 - $450,000

2011-11-25T16:02:00.001-08:00

http://socal.kurio.mobi/property.kurio/details/U11003701-1240-cache-U11311-_1073__Dover_Drive

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

Orange County Register Mobile story - What real estate can be thankful for

2011-11-24T20:54:00.000-08:00

What real estate can be thankful for

http://lansner.ocregister.com/2011/11/24/what-real-estate-can-be-thankful-for/151653/

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

OC oldest soldier home

2011-11-23T15:45:00.000-08:00

O.C.'s oldest soldier comes home safe

http://www.ocregister.com/articles/gilbert-328505-most-home.html

------Sent from Orange County Register Mobile

Thomas M Abercrombie

Sent from my iPad

Massive RE fraud in OC

2011-11-23T07:46:00.001-08:00

O.C. pair indicted in 'massive' home-repo fraud

http://lansner.ocregister.com/2011/11/22/o-c-residents-named-as-robo-signers/152583/

------Sent from Orange County Register Mobile

Thomas M Abercrombie
eWaste Disposal, Inc
(949) 466 8857
California DVBE DGS 46015
DRE 00526572

Homeowners, beware of firms charging a fee for mortgage help

2011-11-23T07:08:00.001-08:00

Plenty of companies are eager to exploit the uncertain economy and housing market by trying to separate property owners from their money. But services seeking high fees for foreclosure assistance seldom prove beneficial, housing experts say.

By David Lazarus

November 15, 2011

Joyce Thompson and her husband, Paul English, were understandably shocked to receive an official-looking letter with the words "foreclosure sale pending" on the envelope.

The letter included the address of their Long Beach condo and an auction date.

"At this point," it warned, "your home will be sold and you will be evicted from your property."

But all was not lost. The letter turned out to be from a company called Expert Legal Helpers, which declared that "we will have authorization to postpone the sale of your property once we are contacted."

So Thompson, 56, gave them a call. "It sounded like a boiler room — lots of people talking in the background," she said.

A boiler room, for those not in the know (or who haven't seen the movie of the same name), is a call center where salespeople typically pitch a questionable product, usually with high-pressure tactics.

Thompson listened to the salesman's pitch for a few minutes and then hung up. She suspected it was a scam.

"We've only owned the condo for about two months," Thompson said. "It would take a lot of effort at this point for us to be delinquent on our mortgage payments. We'd practically have to beg them to put us in foreclosure."

Needless to say, Thompson and English haven't missed any payments. According to their lender, JPMorgan Chase, there's no problem with their account.

The bogus foreclosure letter Thompson and English received serves as a reminder to all homeowners that there are plenty of companies out there that will try to exploit the uncertain economy and housing market to separate you from your money.

There's been more and more of this sort of thing as homeowners struggle to keep a roof over their heads. Foreclosure filings rose in the third quarter, with 1 in every 213 properties nationwide facing a default notice, auction or bank repossession, according to market researcher RealtyTrac.

"If you ever get something about your property that's not from your lender, contact your lender," said Gary Kishner, a Chase spokesman. "Always make sure before you do anything."

Thompson and English live in Tustin. They bought the condo in a short sale for their daughter, who's attending Cal State Long Beach.

The website for Expert Legal Helpers says the company "will negotiate with your lender to reduce your mortgage payments, reduce principal loan balance and stop your foreclosure!"

"Where other companies are using inexperienced representatives, we have highly qualified attorneys, agents and appraisers," it says. "We have a well-connected network to help you achieve the best possible result for your particular situation."

The first red flag, though, is that when you call the number provided for Expert Legal Helpers, you end up speaking with a company called Expert Home Relief.

"It's the same company," explained Maria Burks, who identified herself as the processing manager for Expert Home Relief and Expert Legal Helpers. "Mainly we are Expert Home Relief."

Expert Home Relief doesn't have its own website. Burks is listed as the registrant for the Expert Legal Helpers site.

But a record check for the Santa Ana address of Expert Legal Helpers turns up yet another name, Affordable Home Relief Center. "That's also our company," Burks acknowledged.

http://www.latimes.com/business/la-fi-lazarus-20111115,0,1097808.column