Google Releases 'Undo Send' Option!

Selling Southern California!

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DAILY REAL ESTATE NEWS | WEDNESDAY, JUNE 24, 2015

For those who have sender regret, Gmail now includes the option to take back sent e-mails. But you have to act quickly. Google announced the release of an “undo send” option, which allows users to recall a message within 30 seconds of it being sent.

Read more: Bounce Back From 5 Technology Blunders

Users of Google's popular mail application will be able to unsend e-mails, for example, when you accidentally forget to attach a file or hit the “reply all” button by mistake.

The unsend feature was originally launched in 2009 but only an experimental basis. Now, the feature has been rolled out as a formal setting in Gmail on the Web, via a gear icon at the top right. Under “settings” in the drop-down menu, you'll need to check the “enable undo send” box to use the feature. You can also select the number of seconds (among options of five, 10, 20, or 30) that you'll have to cancel a message. 

Source: “How to Unsend E-mails in Gmail,” WIRED (June 23, 2015) and “Gmail ‘Undo Send’ Option Officially Rolls Out,” Forbes (June 23, 2015)

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5 Tips to Prepare Your Home for Sale!

Selling Southern California!

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Working to get your home ship-shape for showings will increase its value and shorten your sales time.

Many buyers today want move-in-ready homes and will quickly eliminate an otherwise great home by focusing on a few visible flaws. Unless your home shines, you may endure showing after showing and open house after open house — and end up with a lower sales price. Before the first prospect walks through your door, consider some smart options for casting your home in its best light.

1.  Have a Home Inspection

Be proactive by arranging for a pre-sale home inspection. For $250 to $400, an inspector will warn you about troubles that could make potential buyers balk. Make repairs before putting your home on the market. In some states, you may have to disclose what the inspection turns up.

2.  Get Replacement Estimates

If your home inspection uncovers necessary repairs you can’t fund, get estimates for the work. The figures will help buyers determine if they can afford the home and the repairs. Also hunt down warranties, guarantees, and user manuals for your furnace, washer and dryer, dishwasher, and any other items you expect to remain with the house.

3.  Make Minor Repairs

Not every repair costs a bundle. Fix as many small problems — sticky doors, torn screens, cracked caulking, dripping faucets — as you can. These may seem trivial, but they’ll give buyers the impression your house isn’t well maintained.

4.  Clear the Clutter

Clear your kitchen counters of just about everything. Clean your closets by packing up little-used items like out-of-season clothes and old toys. Install closet organizers to maximize space. Put at least one-third of your furniture in storage, especially large pieces, such as entertainment centers and big televisions. Pack up family photos, knickknacks, and wall hangings to depersonalize your home. Store the items you’ve packed offsite or in boxes neatly arranged in your garage or basement.

5.  Do a Thorough Cleaning

A clean house makes a strong first impression that your home has been well cared for. If you can afford it, consider hiring a cleaning service.

If not, wash windows and leave them open to air out your rooms. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Wash light fixtures and baseboards, mop and wax floors, and give your stove and refrigerator a thorough once-over.

Pay attention to details, too. Wash fingerprints from light switch plates, clean inside the cabinets, and polish doorknobs. Don’t forget to clean your garage, too.

Related:

• 7 Tips for Staging Your Home

• How to Keep Things Cleaner Longer

G.M. Filisko

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An Expert In Your Court
Robert De La Rosa
"CALL NOW 909.271.5640"
"Get Qualified Now By A Loan Professional" 

www.TheCaliforniaPropertyConnection.biz 

Coldwell Banker Town & Country
501 W Redlands Blvd
Redlands CA, 92373

CalBre 01435824

FHA's Lower Premiums Boost Loan Demand!

DAILY REAL ESTATE NEWS | MONDAY, JUNE 15, 2015

Recent actions by the Federal Housing Administration to reduce its mortgage insurance premiums is giving its loan volume a major boost, particularly with a "significant uptick in refinancings," Julian Castro, Department of Housing and Urban Development Secretary, said before the House Financial Services Committee.

Castro said that FHA was on track to also reach its 2 percent statutory capital minimum within two years. FHA is required by law to have at least 2 percent in capital reserves, but was at 0.41 percent as of November last year.

Read more: FHA Lowers Its Mortgage Costs

"With the limited data we have, we believe we are on track," Castro told lawmakers. He said final numbers would be available in November.

In January, the agency decreased its annual premium by 50 basis points, which has helped to propel loan originations and recapture rates. FHA loan demand also seems to not only be benefiting from the recent premium reduction but also from an improving economy and falling delinquency rates, the National Mortgage News reports.

According to FHA's latest data, FHA loan endorsements climbed from 50,411 in February to 83,440 in March. A majority of that increase was driven by a spike in refinancings.

Mortgage volume for purchase loans surged 23 percent to 45,571 loans in March compared to a month earlier, according to FHA’s Production Report.

Some critics have said that FHA's reduction in premiums would delay it from meeting the recapitalization of FHA's insurance fund. But Castro said the reduction has boosted lending and it will meet the required rate. He also argued that FHA reduced its premiums in order to make loans more affordable; it has not reduced its credit standards.

"We still have historically a fairly average high credit score for FHA-insured loans of 677," Castro said.

Source: "FHA Charts Recovery After Premium Cut," National Mortgage News (June 11, 2015)

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Robert De La Rosa
"CALL NOW 909.271.5640"
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Loan Demand Surges on Fear of Rising Rates!

Applications for fixed-rate mortgages climbed to the highest level in nearly a year as borrowers rushed to lock in interest rates before they jump higher. Total mortgage application activity for refinancings and home purchases rose 8.4 percent week-over-week on a seasonally adjusted basis for the week ending June 5, the Mortgage Bankers Association reported Wednesday.

"Mortgage application volume rebounded strongly," says Mike Fratantoni, MBA's Chief Economist.

Broken out, refinance applications rose 7 percent week-over-week while applications for home purchases rose 10 percent. Applications for home purchases are now 15 percent higher than the same week a year ago. Refinance applications still remain nearly 5 percent below last year's levels. MBA reports that the average 30-year fixed-rate mortgage rose to 4.17 percent last week, the highest since last November.

"These increases really help the homebuying market," Matt Weaver with PMAC Lending told CNBC. "It really gets buyers to understand that ... rates are at an all-time low — let's react before they go higher."

Source: “Weekly Mortgage Applications Jump as Rates Surge,” CNBC (June 10, 2015)

An Expert In Your Court
Robert De La Rosa
"CALL NOW 909.271.5640"
"Get Qualified Now By A Loan Professional" 

www.TheCaliforniaPropertyConnection.biz 

Coldwell Banker Town & Country
501 W Redlands Blvd
Redlands CA, 92373

CalBre 01435824

CFPB Grants Grace Period for Mortgage Rules!

DAILY REAL ESTATE NEWS | THURSDAY, JUNE 04, 2015

The Consumer Financial Protection Bureau announced it will allow a grace period to lenders who make a good-faith effort in complying with new mortgage disclosure rules which are to take effect later this summer -- a move that has been largely lauded by the real estate industry. 

Read more: Don't Get Thrown by Doc Overhaul

The CFPB will still implement the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure requirements as scheduled on Aug. 1 but there will now be some leeway on enforcement. The new rules are expected to have a broad impact on real estate closings by streamlining the disclosure process for home buyers during closing by merging the Truth in Lending Act and the Real Estate Settlement Procedures Act into one form. The new form is referred to as TRID.

"The action announced today by the CFPB is a welcome first step toward clarifying the changes coming to real estate closings August 1," says Chris Polychron, the president of the National Association of REALTORS®. "NAR appreciates the 'sensitivity' offered by the CFPB to companies making a good-faith effort to comply with the new TILA-RESPA Integrated Disclosure regulation. NAR will continue to work with the CFPB to minimize any possible market disruptions or uncertainty when the rule takes effect August 1, during the busiest transaction season for real estate."

NAR has been a strong advocate for a grace period for the enforcement of the new disclosure rules. 

"While NAR appreciates the CFPB’s understanding of the difficulties involved in making a change of this magnitude, we hope that continued dialog with U.S. Senate and House leaders will result in a solution that allows the lending industry and CFPB to address any implementation issues and minimize costly closing delays for home buyers and sellers," Polychron says. 

Nearly 300 members of Congress signed a letter to the CFPB last week requesting a grace period for enforcement. Lawmakers argued that the TRID rule does not provide lenders an opportunity to begin using the new disclosure form until Aug. 1 and with no time to test out the system before then, there could be an increase chance for disruptions to closings.

In response, Richard Cordray, CFPB director, issued a letter Wednesday to Congress, stating: "We share your desire for a smooth and successful implementation of the Rule, and we continue to work closely with all stakeholders to support that goal. ... In response to the considerable input we have received from you and your constituents, I have spoken with our fellow regulators to clarify that our oversight of the implementation of the Rule will be sensitive to the progress made by those entities that have squarely focused on making good-faith efforts to come into compliance wit the Rule on time. 

"My statement here of this approach is intended to ease some of the concerns we have heard about this transition to new processes in the coming months and is consistent with the approach we took to implementation of the Title XIV mortgage rules in the early months after the effective dates in January 2014, which has worked out well."

By REALTOR® Magazine Daily News

An Expert In Your Court
Robert De La Rosa
"CALL NOW 909.271.5640"
"Get Qualified Now By A Loan Professional" 

www.TheCaliforniaPropertyConnection.biz 

Coldwell Banker Town & Country
501 W Redlands Blvd
Redlands CA, 92373

CalBre 01435824