Countdown to TRID - More Changes for the Lending Industry and Real Estate Business

Some important changes affecting the real estate industry, consumers, and the mortgage industry in particular will go into effect for loan applications dated August 1, 2015 and beyond.  It is called TRID and stands for TILA RESPA INTEGRATED DISCLOSURES. This major regulatory change will mandate industry-wide changes to disclosures and closing documents.  

The forms impacted by TRID include combining the GFE and TIL into one disclosure called the Loan Estimate (“LE”), and combining the final TIL and HUD into one disclosure called the Closing Disclosure (“CD”). However #TRID is more than simply new forms.  Check out the video seen at Sacramento based Scott Papapietro, www.bigvalleymortgage.com.

https://apmortgage.webex.com/apmortgage/ldr.php?RCID=793481a7c71b770423746c1172b6d082

Open House tomorrow 3/7 from 1PM - 5PM - New Blossom Valley Listing

#open#house#real#estate#Blossom#Valley#San#Jose

We will hold this beauty open coming Saturday, March 7, 1 - 5PM.

Come and visit us in this warm and inviting ranch on 367 Avenida Manzanos in the family friendly Blossom Valley Neighborhood w/ easy access to freeways.

Among other great features, there is custom woodwork throughout the house, a fireplace, a spacious backyard with grass to play on for the kiddos and a sparkling pool to relax after a hard day's work.

Listed for under $ 619,000. It won't last so don't miss our open house.

Active military, Veterans, I am a certified Military Relocation Specialist and trained to assist active military and veterans. Let's find your next home! From every transaction I donate to Dreampower Horsemanship to help veterans suffering from p.t.s.d. to get free therapy.

And you all know, where there is Special Agent Silvia holding open, there is always homemade cake!

Questions? Do call me at 408.706.0671. I would love to assist you purchasing your new home.

 

This Month In Real Estate: March 2015 - SCC South County Edition

South County, you had exactly the same number of homes sold like same time last year which means you did better than Santa Clara County as a whole which was down 12% year over year. Home prices are up year over year and month over month. The low interest rates continue to be attractive for anybody looking to buy. Do you? If yes, you know what to do. Together we will make it happen!

Oh, btw. don't forget to spring forward next weekend!

Your's truly, always working hard right in your neighborhood. 

Happy Valentine!

#valentine

Get to Know the Unzillowables in Your Home

Inaccurate Zillow 'Zestimates' are known as a source of conflict between buyers, sellers, and their agents. The buyer complains that the list price is too high if the Zestimate is lower and the seller is not happy either if his agent suggests a list price lower than the Zillow estimate.

According to Zillow CEO Spencer Rascoff, "Zestimates are a good starting point" but have a "median error rate" of about 8%. There is a reason why Rascoff is rather cautiously defining what a zestimate should be, nothing more than one factor in pricing a home.

As a real estate consultant, I am committed to come up with the most accurate estimate not only if clients want to list their home with me but also if the neighbor asks for a free price estimate.

It indeed is a team effort between the homeowner and the agent to come up with a home value that is right on the market and competitive.

While the basis for Zestimates are simply past sales in the extended neighborhood, my price estimates include a comparative market analysis known as a CMA, and more important, the factors x, y, z or as I call them, "the Unzillowables."

How does the school district look like? Does the home have a pool? Is the home very well cared after or is it in a fixer upper condition? Is the neighborhood child friendly? Even the timeline of the owner when he or she wants to be out of the house is a factor. Military families have less time than civilians to sell their homes once they get their PCS, the military relocation order. They tend to list slightly below market value to attract as many offers as possible in short time to be able to close escrow within short time.

No matter what the individual challenge is for the seller, it is always the agent's personal walk-through and the owners honest feedback that will be key factor to work together until both parties agree on a number to be the most accurate estimate and future list price. The appraisal plays a crucial role as well in this process.

No computer result can replace a great homeowner-listing agent relation based on trust, expertise, and honesty.

More about this topic from Kenneth R. Hearney.

#Zillow#Home#Real#Estate

A Low Cost and Beautifully Designed Living Room Table

#Table#Doityourself

This Month in Real Estate - January 2015 - South County Edition

#Real Estate#South#County

Compared to Santa Clara County as a whole which shows the number of sales down compared to last year January, the South County is slightly up. However last months sales numbers are down. Low interest rates are attractive for buyers and sales numbers would be better with more inventory.