Buyers who qualify for FHA and/or VA mortgages are frequently shut out of purchasing opportunities because there are many condominium developments that have not obtained approval from the FHA or VA.  A recently-approved law in California aims to help rectify that situation. On Wednesday, August 12, Governor Jerry Brown signed into law Assembly Bill 596 […]

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Are Real Estate Agents Vulnerable to Law Suits

Are Real Estate Agents Vulnerable to Law Suits?

That is obviously a rhetorical question. The question might be, “Where are they the most vulnerable”? The one area that yields the most problems is non-disclosure of home defects. Yet, only 83% of the Realtors are protected by the famous Errors and Omissions insurance. Also, there are thousands of agents in California who are not […]

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Confusing NMLS Message

Important Confusing Notice Again

NMLS has sent another ominous looking email to all MLO’s on Wednesday, July 15th. This is a simple note to remind everyone that they need to take 8 hours of CE education before the end of the year. As a Government Agency, they has difficulty expressing anything in non-legalese, and we get calls from hundreds of people […]

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Do You Have A Job For Me?

Years ago a super-star realestater, Donna Marie Baldwin of San Mateo County, told me of a tactic that she used when meeting a new client. She said in that marvelous DMB way, “I would like to apply for the job of your Real Estate Agent. Whenever someone applies for a job, it is customary to […]

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Let’s Talk Movies

Everyone is a movie critic, as I believe I am. Some use thumbs-up, stars, checks, numbers, but I will just say, “Should you watch or not watch a movie”? MCFARLAND; This small farm town just north of Bakersfield made the papers some years ago when a bunch of the students who worked the fields won […]

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Personal Assistants Still Not Independent Contractors

There has been a fair amount of celebrating in the real estate industry over a recent Massachusetts Supreme Court ruling that upheld the independent contractor classification of real estate salespersons.  However, not only is the decision in Monell v. Boston Pads a rather narrow one, based on an unusual circumstance in that state’s law, but […]

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NAR Report Tells Where Dangers Lurk

Last week we discussed the D.A.N.G.E.R. Report that was recently released by the National Association of Realtors® (NAR).  NAR commissioned Stefan Swanepoel and his T3 group to prepare the report on threats facing the real estate industry.  D.A.N.G.E.R. here stands for “definitive analysis of negative game changers emerging in real estate”.  The report’s results are […]

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Understanding Your Loan Approval

Q&A In Lending Does Not Mean Questions and Answers

Two words people should understand are Prequalified and Preapproved. Buyers and Sellers should know the difference. It is important. I will quote the Consumer Financial Protection Bureau site:  “Prequalification is a lender’s estimate of how much you could be eligible to borrow based on information you supply. Prequalification does not mean you will get the […]

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Reverse Mortgage Changes

2015 Reverse Mortgage Changes

HUD has been discussing changes to Reverse Mortgages for a long time. Many changes have already been introduced such as limits on the amount someone can receive in year one, waiting periods, etc. All of the changes are designed to protect consumers from making risky decisions. One procedure has been discussed since 1/13/2004 and promulgated […]

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