Crescent City Real Estate News

Crescent City Real Estate Agent Assists Veteran Home Buyers

Fri, 30 Jul 2010 02:40:52 -0400

Crescent City Real Estate Agent Assists Veteran Home Buyers -

If you are a veteran, thank you for your service to our country.

As the mother of a captain in the army and an Iraqi War Veteran I am proud to assist those who have served our country in the United States Military.

I have experience working with VA programs and the special requirements and documents that can go along with these loans.

I can recommend lenders who specialize in VA loans and who have a proven track record of professionalism, efficiency and are knowledgeable and capable of completing the VA transaction from start to finish. Together, we provide you the smoothest home purchase possible.

If you are a veteran home buyer in Del Norte County, please give me a call. I look forward to making your dream of home ownership a reality.

Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009--*both in number and volume--than Fran Gatti. Put Fran to work for you!

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Home Prices Not Expected to Bounce Up...Duh!

Wed, 28 Jul 2010 17:38:27 -0400

Home prices not expected to bounce up...well, duh! -

Why the duh?

Per RealtyTrac:

1 in every 411
housing units received a foreclosure filing in June 2010

Per HousingWire:

The level of foreclosures starts in mortgages owned by Fannie Mae and Freddie Mac, the government sponsored enterprises (GSE), is at its highest point ever in 2010 as the rate of new foreclosures continues to increase.

Per the Associated Press:

Thought the housing crisis was over? Not quite.
Homes are expected to lose still more value in many metro areas over the next year.
Parts of the country already pummeled by the housing crisis will be hit hardest.
Areas that have rebounded or held up well will suffer too.
The number of homes for sale or headed for foreclosure is so high that economists think prices will be even lower by next July.
Prices are expected to drop by 2 to 10% in the coming year depending on the area (I think this is still being optimistic.)

I agree it is good to have a positive outlook but am not in the camp that thinks that my positive outlook will overcome the foreclosure effect on the housing market and economy.

The positive outlook on this situation is this, people are still buying and selling homes. If you are a first time home buyer who has been priced out of the market, congratulations, call an agent and mortgage broker because you may find you can now purchase a home. If you have to sell, work with a good agent who FOLLOWS YOUR MARKET and knows the trends and how to price competitively and your home will sell.

Cal me for you Del Norte County real estate needs.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Walk to Ocean; Ocean View. 5 bedroom, 2380 sq. ft. home in quiet beach neighborhood

Tue, 20 Jul 2010 16:04:45 -0400

VIRTUAL TOUR

Fran Gatti | RE/MAX Coastal Redwoods | frangatti@remax.net | (707) 218-8162

1650 Macken Avenue, Crescent City, CA

Walk to ocean and ocean views. 2380 sq. ft., 5 bedroom home on quiet street near ocean. Completely remodeled first floor, landscaped, large lot, so m

5BR/2BA Single Family House

offered at $487,000

Year Built 1956 Sq Footage 2,380 Bedrooms 5 Bathrooms 2 full, 0 partial Floors 2 Parking 4 Car garage Lot Size .46 acres HOA/Maint $0 per month

DESCRIPTION

Walk to ocean. Spacious 5/2, 2380 square foot home with office on .46 acre in peaceful neighborhood just one home away from ocean. Newly remodeled downstairs includes: freshly refinished hardwood floors; new kitchen cabinets, tile, flooring and appliances; new Mitsubishi heat pump; new paint; new light fixtures; new bathroom tile. Other amenities: fireplace in living room and kitchen, four car attached garage, lawn mower shed, newer roof and ocean view from upstairs and living room. A lovely home, a great location, a must see.
see additional photos below

PROPERTY FEATURES

- Central heat - Fireplace - High/Vaulted ceiling - Hardwood floor - Tile floor - Living room - Office/Den - Dining room - Dishwasher - Refrigerator - Stove/Oven - Attic - Laundry area - inside - Balcony, Deck, or Patio - Yard

OTHER SPECIAL FEATURES

- Ocean views - Walk to ocean - Large parcel - Spacious 2380 square foot floor plan - 5 bedrooms and office - www.crescentcitybeachhomes.com

ADDITIONAL PHOTOS

Photo 1

Photo 2

Photo 3

Photo 4

Photo 5

Photo 6

Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

01723796

frangatti@remax.net

(707) 218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 20, 2010, 11:34am PDT

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Don't Change a Thing Until Your Escrow Closes

Thu, 08 Jul 2010 01:24:29 -0400

Don't change a thing until your escrow closes.

What does that mean exactly?

Don't charge anything on your credit cards
Don't get married
Don't get a divorce
Don't purchase a car
Don't change jobs
Don't start attending school
If you're attending school already, don't take out additional student loans
Don't borrow any money
Don't retire

In short...DON'T CHANGE ANYTHING.

Why not? Underwriters are checking their list and checking it twice. It is becoming common for an underwriter to rerun credit and do additional verification of facts right up to funding. A little change, like deciding to retire or purchasing a car could send your underwriter into paroxysms and bring your escrow to an untimely death. In order to keep your purchase from becoming a dead escrow, keep your situation, not just financial but everything, the same as it was the day you completed your loan app. If you HAVE to change something, call your lender and ask how it will effect the loan BEFORE you actually make the change.

Please take this to heart. The loan process has become a mine field. Lenders and banks, once a permissive lot who gave out money to anyone who could fog a mirror have gone to the other extreme and now want documentation, verification, attestation, authentication, certification, confirmation, information and substantiation and they may want it more than once during the loan process.

To repeat, don't change anything with your life situation during your escrow. Keep your situation the same throughout the escrow process and things should go relatively smooth at least as far as your qualifying for the loan goes.

There are other mountains to scale during the escrow process for instance the appraisal...the grand Pooh-Ba of the escrow process. We'll save appraisal pitfalls for another day.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Crescent City/Del Norte County Real Estate Market Report - June 2010

Wed, 07 Jul 2010 01:51:24 -0400

Crescent City/Del Norte County Market Report for June 2010 - Encouragement for sellers

I'm going to write an encouraging market report for a change. Don't get overly excited, however...

The median price was still low at $145,000 for residential listings sold in Del Norte County for June, however, there were 19 sales, the most in one month so far this year and two sales over $300,000, one for $435,000 and the other for $356,000 (an REO). The home that sold for $435,000 has an ocean view and sold for $115 a square foot, down from the high of a few years ago when ocean view properties were selling in the upper $200's a square foot.

It shouldn't come as a shock that the Del Norte County real estate market has declined 40% since the high in 2006 and continues it descent. Sorry I forgot I was writing an encouraging report.

There are currently 291 active residential listings on the market. At the current rate of 19 sales a month, we have an absorption rate of 15 months, down from the high of 22 months. If you are selling your home, that should be encouraging.

However, you knew a "however" was coming, four of those 19 June sales were REO's and 2 were short sales. These types of sales continue to add to declining home values along with financing that is very difficult to obtain and economic hardships being felt in every sector, including Del Norte County's largest employers, the State of California as well as other government entities. Employees are getting squeezed at every turn right now, expect one, home prices if you're a buyer!

Homes in the under $200,000 range are selling at a brisk pace, 74% of June sales, giving first time home buyers a chance at the American dream and investor's a better return on their money than they can get in most venues. Del Norte County's median price is $229,000.

Give me a call if you are trying to sell your home, are thinking about selling your home or want to purchase a home. I am happy to discuss current trends in the Del Norte County real estate market and how you can meet your real estate goals in the current market, even if you need to sell.

Fran has sold 9.06 of the volume so far in 2010 (next closest agent has sold 6.71), more than any other agent and has sold more listings than any other agent. Fran attributes this to knowing the Del Norte County real estate market and working full time, being accessible to her clients 40+ hours a week. Give her a call to reach your real estate goals, even in this market!

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Strategic Default Vs. Strategic Short Sale And "Verifiable Hardships"

Sat, 26 Jun 2010 12:22:32 -0400

Here is another excellent post by Bob Hertzog shedding light on a new option for underwater homeowners, Strategic Short Sale. Bob's contention is banks are looking the other way regarding the requirement that a homeowner have a verifiable hardship for a short sale transaction and are now basing bank approval on how it will affect the banks bottom line. In other words is the short sale a sound financial decision for the bank versus the time and expense of a foreclosure. It's about time!

In my previous post to this one, Bob discusses how FNMA is viewing short sale vs. foreclosure for homeowner's who have experienced these losses and want to purchase a home again in the future. FNMA will make the home purchaser wait 7 years after foreclosure, but 2 years after experiencing a short sale to purchase a home with a FNMA backed loan. This is definitely food for thought and should be heavily considered if you are facing the decision of foreclosure vs. short sale.

If you live in Del Norte County and are facing this type of decision, I am available at your convenience to explain the short sale process.

Via Robert G Hertzog (Summit Home Consultants):

Strategic Default Vs. Strategic Short Sale And "Verifiable Hardships"

The new "buzz phrase" in our industry is "Strategic Default".

Recently, University of Arizona professor Brent White wrote an article dealing with the issue "Strategic Defaults". In the article, he basically justified the idea of "walking away" from your mortgage, based on the fact that it was a "business decision" on the borrower's part, just as the bank made a "business decision" when they decided to loan the money for the residence.

60 Minutes even decided to run a story on "Strategic Defaults".

As much as it pains me to say this (I'm an ASU Grad), I agree with much of what the UA Professor is saying. Let's face it, when the borrower decided to borrow money, they were asked to not only use the lender's appraiser, but were also asked to pay for the appraisal. The lender, in turn, decided that, based on the opinion of their own hand-picked appraiser, it was a good business decision to provide a loan to the borrower. In addition, we were all privy to the age-old question from the appraiser of "Where do we need to be on the price?"

What I don't agree with is the premise of "walking away" vs. "making an attempt" to work with the lender. In most cases, a borrower's credit would be less affected by conducting a "strategic short sale" vs. a "strategic default". Don't believe me? See my recent blog that details how FNMA looks at a foreclosure vs. a short sale, in terms of waiting periods to get their next loan.

Now, some of you may ask, "What is a Strategic Short Sale"?

I'll do my best to explain...As agents, when it comes to short sales, we are always faced with Rule Number One... Does the Seller have a verifiable hardship?

Six months ago, I wouldn't take a short sale listing unless the Seller had a "verifiable hardship"... Things have changed... We've recently closed several short sales for clients who did not have "verifiable hardships", as defined by most lenders.

So, what does this mean? My opinion is that lenders are now beginning to look at their "bottom line" profit of a short sale vs. a foreclosure. In other words, most lenders have finally realized that their "breaking point" in terms of bank-owned properties has been reached (i.e., they finally understand that it makes more sense to short sell a home than foreclose and take it back and sell it as an REO).

My inclination is that they are now more willing to sell a home at market value, and they are realizing that current market value (as evidenced by their BPO or Appraisal) is much better than what they would expect to get if they decided to take the home back into their inventory (less the $50-$60k they will spend on a foreclosure). More important, they are willing to "look the other way" when it comes to a "verifiable hardship" in order to make more $$.

Many of us subscribe to the rules of "No Hardship, No Short Sale". I'm here to challenge you to "think outside the box". We've had several short sales approved in recent months where there was no "verifiable hardship" present.

While all lenders still require a hardship letter, we're finding that this requirement holds little, if any value. The bottom line is if the lender feels that they can come out ahead (financially) in a short sale vs. foreclosure, they will more-often-than-not go for the short sale (if it makes financial sense, which it almost always does). The beauty of a short sale is that your only competition is the BPO that the lender requires. If your contract price is within 5-8%% of the BPO price, chances are, your deal will go through.

It's been repeated Ad-Nauseum, but I'll say it again here... LENDERS DO NOT CARE ABOUT THE FINANCIAL HEALTH OF YOUR CLIENTS. THEY ONLY CARE ABOUT THEIR OWN BOTTOM LINE. In other words, if it makes more sense for them to short sell a home (which it always does, unless there is PMI, but that's another story) they will approve it.

A group that I happen to subscribe to (they will go un-named) preaches that if your client doesn't have a "verifiable hardship", you shouldn't take their short sale listing. I'm here to debunk this myth. Banks could care less about hardships. They only care about their bottom line. Don't believe me?

We recently closed two short sales for a retired orthopedic surgeon with two rental/investment homes with Chase. He couldn't even write a hardship letter, based on his current financial position (i.e. no hardship). Chase simply made a good investment decision.

If you have a client who you feel doesn't meet this "hardship letter" requirement, and you don't want to take the listing, have them contact me. I'll take it.

Let's quit talking about "strategic defaults", and start talking about "strategic short sales". If the bank agrees to do it, what is the harm? Let's face it, a short sale is a MUCH better alternative for a Seller's credit vs. a strategic foreclosure, and it's almost always a better alternative to the lender.

Now, before some of you jump in and slam this blog with your comments, please realize that what I'm writing about is reality. We are not trying to "scheme the system" (please, get over the whole "victim thing"). The bottom line is that lenders are not stupid. They (most of them, anyway) are finally realizing that approving a short sale is a better alternative than foreclosure. In most cases, they are FINALLY coming to the reality that they own enough homes (through foreclosure) and they need to start making rational business decisions.

In other words, it matters not what/how you feel about "strategic short sales", but how the lenders feel about them (at least in my recent experience), and how you can best advise your clients.

This blog is only intended to share what I'm seeing in my short sale transactions. Your opinions are welcomed.

Bob Hertzog
Designated Broker-Summit Home Consultants 2009:
95% Success Rate Closing Short Sales
www.phxshortsalehelp.com

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Contemplating A Strategic Default? FNMA Says You Must Now Wait 7 YEARS To Buy Again!

Sat, 26 Jun 2010 11:40:18 -0400

Here is must read information for anyone considering a Strategic Foreclosure or Short Sale. This post, via Bob Hertzog, shares new guidelines on how FNMA will treat a future home purchase for homeowner's who have experienced a foreclosure or short sale.

Please consider all your options carefully and consult with a real estate attorney and tax professional before taking any steps in a foreclosure or short sale direction.

If you are considering a short sale in the Del Norte County real estate market, I am available at your convenience to explain how this process works.

Via Robert G Hertzog (Summit Home Consultants):

Contemplating A Strategic Default? FNMA Says You Must Now Wait 7 YEARS To Buy Again!

On Wednesday, FNMA announced a change in the timeframe to purchase after a foreclosure. Beginning July 1st, 2010, homeowners will be forced to wait 7 YEARS before purchasing another home backed by FNMA (previously, there was a 5-year wait).

This new announcement will dovetail into the announcement that they made on April 30th regarding waiting periods for those homeowners that choose to short-sell their homes. Basically, homeowners who choose to work with their lenders will be forced to wait anywhere from 2-7 years, depending on whether there are "extenuating circumstances", and the amount of down payment that a homeowner chooses to put down (i.e. with no "extenuating circumstances", a homeowner who chooses to put down 20% will only have to wait 2 years, while a homeowner who chooses to put the minimum required down will have to wait 7 years). Both of these changes will go into effect on July 1, 2010.

Regardless of where you stand on the issue of "strategic defaults", FNMA is making it very clear that they would much rather see a homeowner work with their lender, rather than simply "walking away" and handing their home back to the bank.

The bottom line is this: By simply "giving up" and handing your home back to the bank, you will not be able to purchase a home through FNMA for 7 YEARS (unless you have "extenuating circumstances" that led to the foreclosure). If you short sell your home, you will be back in the game in as little as 2 YEARS. To make things easier to digest, please see the following FNMA announcements that go into effect on July 1, 2010:

New Foreclosure Waiting Periods

New Short Sale Waiting Periods

What Are Extenuating Circumstances?- Download the Seller Handbook (updated 5/27/10) and go to page 427

Please take a moment to familiarize yourselves with the links provided. They are very informative, and will help you to better understand these substantial changes.

Bob Hertzog
Designated Broker-Summit Home Consultants 2009:
95% Success Rate Closing Short Sales
www.phxshortsalehelp.com

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Crescent City/Del Norte County Real Estate Market Report - May 2010

Wed, 16 Jun 2010 23:23:37 -0400

Crescent City/Del Norte County Real Estate Market Report - May 2010

Number of residential sales improved over April 2010 and May 2009 sales, however the median price has dropped 21% from the May 2009 median of $180,000.

The effect of foreclosures, declining prices, can not be denied. REO (foreclosure) sales comprised 56% of May 2010 sales and 37% of sales so far for 2010.

Upper end sales continue to remain stagnant with only two homes closing in May over $300k and one of those sales was an REO. So far in 2010 homes $300,000 and over were 11% of total residential sales.

What does it mean? It's a buyers market and there aren't a lot of buyers. The buyers that are out there are experiencing a difficult time getting pre-approved (even with the best of credit) and escrows are taking longer than usual to close, upwards of 60 days or more, as well as having to overcome many hurdles along the way, appraisals just to name one.

If you must sell at this point in time, your home needs to be priced competitively for your price range. Buyers who do make it successfully through the mine field of pre-qualification expect nothing less than an all out bargain. If you don't have the stomach for that, you best wait until the market picks up a bit for sellers. That may be awhile though and prices, in my humble opinion, are going to continue to decline so you better take that into consideration.

I work with quite a few asset managers, the folks banks contract with to liquidate their foreclosures, and they all agree that we have not yet seen even half of the foreclosure inventory hit the market. Banks seem to be holding onto a great deal of inventory for whatever reason and when these homes do enter the market, they will have a negative effect on home values in their neighborhoods.

Here is the market at a glance for May, 2010:

May 2010 median price - $142,500, median price for May 2009 - $180,000
May average price - $162,306
Average days on market - 156
2 homes sold over $300,000, one of those was an REO
56% of May's sales were REO's
37% of all 2010 residential sales were REO's
2010 average sale - $169,689
2010 median sale - $161,000
2010 average days on market - 177

If you have questions about pricing your home in this market, please give me a call. I would be happy to give you current market data for competitively pricing your home.

I have sold more homes, both in volume and number of sales so far in 2010 than any other agent in my market. The reason, I work full-time, market my properties extensively on the internet and return prospective buyers phone calls and emails quickly. My goal is to give the best customer service available in Del Norte County. Please give me a call with your Del Norte County real estate questions.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

Crescent City, CA, 3/2 Manufactured home on 1 acre, end of road privacy

Fri, 11 Jun 2010 00:29:52 -0400

Fran Gatti | RE/MAX Coastal Redwoods | frangatti@remax.net | (707) 218-8162

125 Embarcadero, Crescent City, CA

End of road privacy, quiet, rural neighborhood, 3/2 manufactured
home on 1 acre.

3BR/2BA Manufactured

offered at $215,000

Year Built 1990 Sq Footage 1,680 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking Unspecified Lot Size 1 acres HOA/Maint $0 per month

DESCRIPTION

1680 square foot, 3 bedroom, 2 bathroom manufactured home on 1 acre in quiet end of road neighborhood. Large deck in front of home has lots of sunshine. Plenty of room to add a shop, garage, gardens and more. Large circular driveway and two gated entrances for added privacy. Acre is fully fenced to keep the animals in. Kitchen has breakfast bar, large pantry and lots of storage. Master suite is large with walk-in closet, master bath has soaker tub and walk-in shower. Check out the virtual tour for more pics.
see additional photos below

PROPERTY FEATURES

- Central heat - High/Vaulted ceiling - Walk-in closet - Living room - Dining room - Refrigerator - Stove/Oven - Microwave - Laundry area - inside - Balcony, Deck, or Patio

OTHER SPECIAL FEATURES

- 1 acre - Quiet neighborhood, end of road

ADDITIONAL PHOTOS

Photo 1

Photo 2

Photo 3

Photo 4

Photo 5

Photo 6

Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

01723796

frangatti@remax.net

(707) 218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 10, 2010, 7:47pm PDT

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

If You Are Struggling To Pay Your Bills- You Need To Read This Post

Sat, 05 Jun 2010 01:57:45 -0400

All money saving ideas are welcome on this post.

Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):

One of our daughters went to a coupon class about a month ago. She and her sister do not want to be in debt for anything other than a modest home, even their cars are almost paid off. They only have credit cards to use as ID and for online purchases which they then try to pay in full each month.

They did not want to go alone the first time so I told them I would show them how to save money using coupons and the sales, especially the buy one get one free sales each week. Since we go to the store anyways, I thought I might as well take them with me. We can have some girl time together.

If you are struggling paying your bills- you need to pay attention to this post.

If you are in debt and want to get that debt paid down and eliminated- you need to pay attention to this post.

If you make money but love to save and have more money at the end of your paycheck- then you need to pay attention to this post.

This is serious saving!

This is not about saving a dollar here and a dollar there. This is about actually making a difference in your family's budget.

I will share some other case studies later on.

I know families who are using this coupon system to cut their food bill in half and nearly eliminate their budget for household goods, cleaners, personal care products and beauty products.

This system is being used by middle class families to extend their budget. The savings each month from their food budget and personal care budget are being used to pay down their debt. I will write a post about the fastest and easiest way to pay down your debt at another time.

In fact, this is such a savings to most families; studies have shown that a mom or dad that uses these saving strategies is worth $80 per hour! This is nothing to make light of!

As I was showing them I got hooked! Since I go to the store anyways I figured that it was time we started saving some money and use that money we save towards paying for the college bills we are paying and for paying down debt. We spend a lot of money on food, good food, healthy food. But those savings we'll talk about later on. For now, just see how FAT these savings are.

This is nothing to sneeze at!!! I don't care how much money you are making in real estate you can learn some frugal ways to save. Since we live in Florida and we are now approaching hurricane season, stocking up is a 'must do item' on your list. As soon as the storm warning hits- the stores' shelves empty within hours.

In just one month we have enough shampoo and conditioner for a year, enough razors for a year, enough body wash for a year and enough feminine products for a year. In this photo here between Walgreens, CVS and Publix and this is all non food items-

I bought $980 of products for $64.00 - that includes the 6.5% sales tax.

We still have lots of items to donate to the Military care packages, send our kids in college and give to homeless shelters.

If you are so rich that you don't need to save any money- you and your friends can do this for fun and then donate all your items to charity.

The video I posted below is ten minutes long so fair warning about that but it is well worth watching. I go through the items and explain how you can use them, etc. For instance, Nestor and I do not use any deodorants that contain the aluminum because we believe it may cause breast cancer. So we donate the free products that we don't use to our kids who refuse to listen to us about deodorants or we send it off in care packages or drop it off at the homeless shelters.

Copyright © 2010 By Katerina Gasset, All Rights Reserved.*If You Are Struggling To Pay Your Bills- You Need To Read This Post*

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

The Real Estate Oath - Let's raise the bar!

Sat, 05 Jun 2010 01:55:25 -0400

If this isn't an idea whose time has come, what is. I've met many an agent who instinctively has this ethic and they are a pleasure to work with.

Via Jonathan Washburn (ActiveRain Corp):

I freely pledge to pursue my calling as a real estate professional.

Protecting and promoting my clients will be my first consideration.

I will continually learn and strive to better myself in knowledge and expertise.

I will in all ways do my utmost to elevate the standards of my profession.

I pledge to be honest at all times, and to treat appropriately the confidential information confided in me by my clients.

I will never give preference in my professional services based on race, color, national origin, religion, sex, familial status, sexual orientation, or disability.

I will be forthright in disclosing to my clients all ways I earn income in connection with their transaction.

I will not provide a service that is outside of my field of expertise.

I recognize that this profession is equally about relationships and people as it is about real estate and law.

Passion for my vocation, love for the people I meet, and dedication to this oath will define my life's work.

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS

MORTGAGE foeclosure information

Sun, 23 May 2010 11:11:30 -0400

I get asked almost daily, when will we hit bottom, have we hit bottom, will we hit bottom, where is the bottom, when will prices rise, etc. I deal with A LOT of REO listings (foreclosures) and talk to my asset manager's who share their take on things based on being in the trenches. No, we haven't hit bottom in my opinion (which is supported by a lot of data and stats). There are a plethora of foreclosures just sitting in bank inventory waiting, waiting, waiting.

Below are some statistics that give a sobering reality to the foreclosure situation along with some interesting questions posed by the writer.

Via Howard Sumner (Howard Sumner Real Estate):

Here is great graph showing the great effect all the money that has been thrown at housing is having. If you missed the news yesterday delinquencies rose to 14.69%. Their highest level in the fist quarter of 2010. Which means foreclosures should also go to their highest level probably third quarter of 2010 which then translate into a bottom of the real estate market 2nd quarter 2011 maybe 3rd quarter 2011 depending on how fast the lenders bring inventory to market. Right now the estimate is 4.3 million seriously delinquent loans if 50% are foreclosed on and brought to market each of the next two years that is approximately 50% of the home sales in each of those two years. Several question come from this information you may want to ask yourself.

#1 do you think prices will rise or fall with new additional foreclosed homes on the market?

#2 if prices fall will that create a slower resale market or a faster resale market?

#3 if prices fall how will this affect the new home construction business in terms of building units for sale?

#4 if new home construction stays at the levels that it currently is for the next two years what happens to all the businesses that supply construction?

#5 with no tax credits to "create" buyers how will this affect sales and prices?

#6 with unemployment projected at over 9% for all of 2011 how will this affect sales?

Thoughts to ponder before you run out to buy in the depressed areas because they are such a "good' buy

On a positive note only four states have a lower delinquency rate than Montana!!!!!

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Bus: 707-464-5400, Cell: 707-218-8162
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SNEAKY SNEAKY SNEAKY !!!

Sun, 23 May 2010 10:59:27 -0400

Just one more thing to watch out for.

Via Sheldon Neal -- That British Agent -- (Bergen County, NJ - RE/MAX Real Estate Limited):

It's always astounding the ways that some folks will try to beat the system.

This last week I was talking with an Attorney who had just recently had a scam encounter that he had never seen in 30 years in Real Estate.

Apparently 2 sellers arrived for their closing and signed all their documents, and were just about to be handed their $325,000 closing check, when the attorney asked for their drivers licenses for the file.

The husband took his out from his wallet but the wife said she didnt have hers with her.

The hubby said "Cant you just use mine ?"

Getting a weird feeling, the Attorney asked if the wife had any identification at all on her - especially as she had her pocketbook with her !

At this point the 2 seemed to get a little fidgety !

Continuing with his uneasiness, the attorney said "I'm really sorry but I cant finalize this closing without getting copies of your official ID for the file".

With that, the wife said "OK no problem, I might have it in the car..."

... and strangely, they BOTH went off to the car to get the ID.

AND NEVER CAME BACK !!!!!!!

It turns out that the husband was indeed who he said he was, and was an owner of the house. BUT, his 'wife' at the closing, was not actually his 'wife' .... yet !

... She was in fact, HIS GIRLFRIEND !!!!!

Their little scam was that she would sign as the wife, they would take their check and quietly deposit it asap having sold the house.

I say quietly because it was revealed that the REAL wife was separated from the husband, but not yet divorced.

... AND HAD NO IDEA THAT THE HOUSE WAS BEING SOLD !!!!!

They wanted to deposit that Fat Check - and cash it out as soon as it cleared and disappear with over $300k without the real wife knowing anything about it !

... and they would have got away with it too if it wasnt for that meddlin' attorney !!!!!!

So kudos to efficient attorneys, who do their jobs well and dont cut corners, and in the process, sometimes help to avoid some tricky scams like this one !!!!

Happy Weekend All !!!

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
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Brand New Home for $189,000!

Fri, 21 May 2010 01:12:00 -0400

Fran Gatti | RE/MAX Coastal Redwoods | frangatti@remax.net | 707-218-8162

580 Keller Ave, Crescent City, CA

Brand new, 2009, 1628 square foot home for $189,000. Home has open floor plan. What a great value.

3BR/2BA Single Family House

offered at $189,000

Year Built 2009 Sq Footage 1,628 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size .15 acres HOA/Maint $0 per month

DESCRIPTION

New construction. 3 bedroom, 2 full bath, 1628 square foot home on corner lot located close to schools, shopping and services. Home has open floor plan and windows everywhere to let in the natural light. Kitchen has breakfast bar, island, loads of counter and cupboard space and large dining area that opens to backyard. Master is large with walk-in closet, master bath has tub/shower combo. Both guest bedrooms are roomy. Talk to your tax professional about CA tax credit for purchase of new construction!
see additional photos below

PROPERTY FEATURES

- Central heat - Walk-in closet - Living room - Dining room - Dishwasher - Stove/Oven - Microwave - Laundry area - inside - Yard

OTHER SPECIAL FEATURES

- http://www.realestateshows.com/494687

ADDITIONAL PHOTOS

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Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

01723796

frangatti@remax.net

707-218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: May 13, 2010, 9:09pm PDT

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

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Spacious 3, 328 sq ft home with 928 sq ft master suite on 1 acre in quiet neighborhood

Fri, 21 May 2010 01:02:38 -0400

For more pictures and information

Fran Gatti | RE/MAX Coastal Redwoods | 707-218-8162

930 Cessna, Crescent City, CA

Spacious 3.328 sq. ft. home on 1 acre, quiet and private location
in the redwoods.

3BR/3BA Single Family House

offered at $399,000

Year Built 1978 Sq Footage 3,328 Bedrooms 3 Bathrooms 3 full, 0 partial Floors 2 Parking 2 Car garage Lot Size 1 acres HOA/Maint $0 per month

DESCRIPTION

Spacious 3,328 square foot home with 928 sq. ft. master suite on 2nd floor that has wall of closets & large master bath w/Jacuzzi tub & walk-in shower. Kitchen has tile breakfast bar & loads of counter space, large pantry, bonus craft room with built-ins. Great room has large living room area, formal dining with chandelier and informal dining area with fireplace that could also be sitting area. Enormous 670 sq. ft. deck off kitchen has hot tub and beautiful view of the grounds. Three bedrooms, 3 full baths. New roof and more!
see additional photos below

PROPERTY FEATURES

- Fireplace - Walk-in closet - Tile floor - Living room - Bonus/Rec room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Washer - Dryer - Laundry area - garage - Balcony, Deck, or Patio - Yard - Jacuzzi/Whirlpool

OTHER SPECIAL FEATURES

- www.parkwayhomesforsale.com

ADDITIONAL PHOTOS

Photo 1

Photo 2

Photo 3

Photo 4

Photo 5

Photo 6

Contact info:

Fran Gatti

RE/MAX Coastal Redwoods

01723796

707-218-8162

For sale by agent/broker

Equal Opportunity Housing

Posted: May 20, 2010, 8:16pm PDT

Brought to you by Fran Gatti at
No one works harder for you!
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®

*PER CCMLS