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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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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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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You can get rid of the interest rates and also prevent late and over-limit fees through the debt management program.

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With the failure of most traditional marketing to produce sufficient number of transactions for the average agent to survive, many agents have been forced to move to traditional companies to have enough business.  And t

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The new program doubles the length of time unemployed homeowners can obtain a forbearance on a Freddie Mac mortgage, up from six months previously. The new program takes effect Feb. 1, 2012.   “These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney,a Freddie Mac senior executive. “We Read full post…

Many financial experts have recently predicted Canada’s housing market would slowdown in 2012, but some economists say stable home prices and limited change is the best case scenario.

According to a CBC News report, CIBC economist Avery Shenfeld believes Canada’s real estate market will be lucky to experience modest gains this year, as homes are overvalued by as much as 15 percent. However, despite overvalued real estate prices, Shenfeld doesn’t foresee a market correction anytime soon.

“What I hope to see is that house prices don’t rise this year,” said Shenfeld, as reported by the source.

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As we leap into a the New Year, it is a time to reflect on the year that we leave behind and envision the exciting year that lies before us.  While we could choose to spend time focused on what we wish we had accomplished, it is far more productive to look backwards only for answers and forward towards solutions.  Embrace the change that brings a year filled with unlimited possibilities!

There is only one thing that makes a dream impossible to achieve: The fear of failure

2012 could be the year you crawl within your shell and choose to live a safe, comfortable…albeit fearful life.  Or

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Q: I’ve been given a lease to sign that says the landlord can increase the security deposit during the term of the lease. I thought the whole point of a lease is to prevent this sort of thing. Is this legal?

A: It’s understandable that you’d be confused after encountering a clause like the one you describe. When we think of leases, we expect that the key terms, such as the rent and the length of the lease, will be set and unalterable . That’s the main advantage of a lease over a month-to-month rental agreement the tenant knows he can stay for the lease term and that he won’t get a rent increase.

But just as a landlord and tenant may decide later to end the lease early, so too can they provide for an early ending right in the lease itself.

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Focusing on the aesthetics, beauty, and significance of automobiles, these collective works illustrate many different art styles and techniques including painting, photography, and sculpture. The exhibit will be open from January 7 until January 28 from 6:00 a.m. to 6:0

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Listen in and learn how to become the top listing agent in your market. A

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A while back, I wrote about whether it was a good time to buy real estate.

While I argued that it certainly wasn’t a bad time, thanks to the reduced home prices and rock-bottom mortgage rates, I didn’t really touch on why one would buy now.

Back during the housing boom, the trend was clear. Buy

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You can’t polish a turd.  That’s what my Dad said to me.  On prom night.  Gee, thanks Dad.

One thing I’ve learned from being in the fix and flip business is that you may not be able to polish a turd but you can put lipstick on a pig.  And in certain cases some extremely expensive mascara and cover-up.

Currently, I have six houses on the books, three of which are in escrow.  The other three are active on the multiple listing service.  The acquisition price for each of these properties ranges from $140,000 to $486,000.  My rehab costs vary too, from $14,000 to $48,000.

The three houses I have in escrow cost me the least to buy, and remodel:

• 37^th – Purchase price $140,000, $23,000 in repairs
• Melinda – Purchase price $184,000, $15,000 in repairs
• Gemini – Purchase price $278,000, $15,000 in repairs

And two of the three active listings I have cost me the most to buy, and fix up:

• Frye – Purchase price $340,000, $37,000 in repairs
• Cosmos – Purchase price $486,000, $48,000 in repairs.

So by now you’re probably thinking that I’ll make more money on the higher end flips right?  I mean that’s what I thought.  Well, three price drops and 44 days later I’m looking at a loss on both of these deals.

And the three lower-priced deals that I have in escrow?  Together they will net me the h

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