Actor-director Clint Eastwood once was the mayor of Carmel. Edward Weston and Ansel Adams, two of the most innovative and influential 20th century American photographers lived here. Each of these men are considered true masters in their own right and faithfully represent the rich artistic history that is at the core of Carmel-by the Sea, the center point of  California’s North Central Coast.

Over the years, the natural beauty of the area has inspired poets, writers, painters, and architects alike. Mi

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Late last week, Congress agreed to reinstate the temporarily inflated FHA loan limits that fell on October 1.

So for the next two years, homeowners in high-cost regions of the country will be able to take out FHA loans for amounts up to $729,750, as opposed to the $625,500 cap that previously applied.

While this may sound like a win for the badly bruised housing market, a recent study suggested otherwise.

Back in July, a pair of George Washington University researchers claimed that higher FHA loan limits would do little to positively affect housing.

In fact, they noted that the FHA loan limit could be slashed in half and still serve 95 percent of its historic target market.

But we all know times have changed, and the FHA’s target market isn’t the underserved, low-income borrowers of times past.

These days, it’s anyone who doesn’t want to come up with a large down payment to purchase a home.

Thanks to their flagship 3.5% down loan program, the FHA’s market share has risen to about 30 percent of loan origination volume, putting pressure on capital reserves and increasing the likelihood of a taxpayer bailout.

All this at a time when we’re supposed to be shrugging off government support and bringing private capital back into the mix.

For the record, those researchers feel the FHA should hold a nine to 15 percent share of the mortgage market and lower the max loan limit to $363,000.

Fannie and Freddie Still Capped at $625,500

Meanwhile, the conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac is staying put at $625,500, likely because any more risk thrown their way would be considered unacceptable.

This is a blow for those in high-cost regions of the United States looking to avoid jumbo loan financing and the higher mortgage rates that come with it.

Why? Well, most

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Is there some such a thing as a pre-approved short sale? - a short sale whereby the seller calls the bank and the bank agrees to a short sale price and terms in no time flat?

In short, the answer is no and maybe. Often times, pre-approved means that the bank now rules the roost. The bank can dictate terms (including commission), and can also request that the terms and conditions for marketing the property (including the number of open houses required). In this instance, the terms have been approved, but the buyer has not yet been approved. Th

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A record number of investors and second-home buyers flooded the Southern California real estate market in December, though not enough to give sales in the region a bump over the same month a year earlier. With the investor dominance, low-cost homes reigned. That helped push the region’s median home price back down to its lowest level in 12 months, according to San Diego real estate firm DataQuick. Sales fell 1.4% from the same month a year earlier, with a total of 19,247 homes bought throughout the six-county region. Sales fell the most in San Bernardino, down 7.2% from the same month a year prior. The region’s median home price — the point at which half of the homes in the region sell for more and half for less — fell 6.9% to $270,000.   Read full post…

Successful realtors® do not happen overnight.  They happen because of their unbridled enthusiasm, unfailing determination and an insatiable desire to succeed.  They are hard working, diligent and consistent in all that they do and will not allow anything to deter their efforts.

Their success isnt difficult to pinpoint, but it can be tough to recreate.   Unless of course, you pay close attention to a few of their shared traits.  Traits that are incorporated into the very fiber of their beings and woven into every conversation they have.

1.  Hone

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