Why you should get an InspectionWhether you are buying or selling a home, you should have a professional home inspection performed.A home inspection will look at the systems that make up the building such as:Structural elements, foundation, framing etc Plumbing systems Roofing Electrical systems Cosmetic condition, paint, siding etc If you are buying a home, you need to know exactly what you are getting. A home inspection, performed by a professional home inspector, will reveal any hidden problems with the home so that they may be addressed BEFORE the deal is closed. You should require an inspection at the time you make a formal offer. Make sure the contract has an inspection contingency. Then, hire your own inspector and pay close attention to the inspection report. If you aren't comfo... 11/06/2007

Monday's bond market has opened flat with no relevant economic news scheduled for release today. The stock markets are showing losses with the Dow down 60 points and the Nasdaq down 12 points. The bond market is currently unchanged from Friday's close, but we still may see a slight increase from Friday's morning rates.This week is very light in terms o f economic releases for the markets to digest, especially compared to last week. There are two monthly and one quarterly reports on tap, but only the quarterly one can be considered to be highly important. This makes it quite likely that we will see a fairly quiet week in the mortgage markets, assuming that the stock markets do not repeat last week's volatility. The first piece of data scheduled for release comes Wednesday morning with th... 11/06/2007

Are you tired of driving by For Sale Signs and looking at Newpaper ads?  Are you tired of watching other people get their dream home?  Well the time to let American Homes Real Estate help you get into that special home is now!  Just visit www.simivalleyhomeaccess.com and preview the many quality homes we have to offer!  We can help you arrange for financing as well......and invite you to call us at (805) 306-1444 today!  Stop dreaming and be in your very own home as soon as 30 days!  We represent both Buyers and Sellers within the Ventura and Los Angeles counties.  (Sellers.....remember we list homes for only a 1% fee....al for full and complete service! 11/06/2007

Improve your lifestyle and add value to your home!  There are many energy efficient improvments such as Updating/Remodeling your kitchen, with energy saving appliances.  Also consider replacing old windows and sliding glass doors.  Adding double pane windows is a big plus, as they reduce both heating and cooling costs as well as outside noise.  Shop for windows that are Energy Star certified.  Remember, heating and cooling costs can account for as much as half of a home's energy costs.  Again, look for Energy Star certified units when replacing your heating/cooling systems.  And finally, make certain you have sufficient insulation and weather stripping.  Save dollars.....make Smart improvments. 11/06/2007

As always, price is the main consideration and ranks as the number one factor in the process of selling a home.  Sellers need to work wlth an experienced and professional Realtor who will not only assist in setting a realistic value/price, but follow through knowledgeably with each and every step of the transaction, once the home enters escrow.  The appearance of the home itself needs to appeal to the largest number of potential buyers.  Buyers tend to prefer neutral designs and decor.  New paint as well as an attractive lawn goes a long way.  Understanding how your home looks to prosepective buyers is critical.  Remember, the first impression of your home is very important.  Marketing of your home is extremely important, as well.  We at American Homes makes certain your home is exposed... 11/02/2007

How do you "buy" a better rate?Do you plan on keeping your loan for a while? Then it may make sense to "buy" a lower interest rate by paying one or more "points." Even if you're unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for a lower rate may make sense. For example, do you have a high-paying job now but you think you might change careers in the next few years? We can help you sort it out. It's part of our finding the right loan for your means and goals.A point -- which equals one percent (1%) of the total loan amount -- is an up-front fee that lowers your monthly interest rate and total interest due over the life of the loan. So, a one point loan will have a lower interest rate than a no point loan. Basically, when you pay points yo... 11/02/2007

Living TrustsCreated while you are alive, a revocable living trust lets you control the distribution of your estate. Ownership of your property and assets is transferred into the trust. You can serve as trustee or you can appoint another to serve as trustee. If you serve as trustee, you must appoint a successor to serve as trustee upon your death.Properly drafted and executed, a revocable living trust can avoid probate and delays as the trust owns the assets not the deceased.  Consult with your attorney and/or CPA before deciding if a revocable living trust is the right choice for you.Advantages to a Living Trust Holding Title A husband and wife can establish a joint revocable living trust.  While the trustor serves as a trustee or a co-trustee, a separate tax return is not required for... 11/02/2007

Five ways to make the loan process go fasterWe should say that "working with us" is the first way! When you let us help you find the loan that's right for you, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly. But here are five "other" ways you can speed up the process of getting a mortgage loan:1. Have everything ready and in one place. Elsewhere on our website, you'll find a list of things you might need in support of your mortgage application. If you get them all together and keep them in a safe, portable place like a special pouch or folder, you can cut down on time spent rooting around for things we may need. Also, you'll help cut down on your own anxiety and confusion. 2. Be honest and co... 11/02/2007

Debt to Income Ratio Your debt to income ratio is simply a way of determining how much money is available for your monthly mortgage payment after all your other recurring debt obligations are met.  Debt limit There is generally a debt limit associated with each type of loan, such as a 28/36 qualifying ratio for a conventional loan. These qualifying ratios are guidelines. An excellent credit history can help you qualify for a mortgage loan even if your debt load is over and above the limit. Understanding the qualifying ratioTypically conventional loans have a qualifying ratio of 28/36. Usually an FHA loan will allow for a higher debt load, reflected in a higher (29/41) qualifying ratio. The first number in a qualifying ratio is the maximum percentage of your gross monthly income that can... 11/02/2007

What are the advantages of fixed rate versus adjustable rate loans?With a fixed-rate loan, your monthly payment of principal and interest never change for the life of your loan. Your property taxes may go up (we almost said down, too!), and so might your homeowner's insurance premium part of your monthly payment, but generally with a fixed-rate loan your payment will be very stable.Fixed-rate loans are available in all sorts of shapes and sizes: 30-year, 20-year, 15-year, even 10-year. Some fixed-rate mortgages are called "biweekly" mortgages and shorten the life of your loan. You pay every two weeks, a total of 26 payments a year -- which adds up to an "extra" monthly payment every year. During the early amortization period of a fixed-rate loan, a large percentage of your monthly payme... 11/02/2007

Located in beautiful Simi Valley, Calfornia, we are located at 4511 Alamo Street.  Experienced and dedicatd, we serve clients within the Ventura and Los Angeles counties.  We offer home sellers Full Services for only a 1% listing fee.  We invite both Sellers and Buyers to visit us at:  www.simivalleyhomeaccess.com   (Visit us and serach over 100,000 active home listings......for free).  You may also call us at:  (805) 306-1444   Now is a "fantastic" time to purchase your first home....or buy that much needed step-up home.  Experienced, full-time professional Realtors are at your service and are ready to serve you!  Save money, while having all the details handled for you, in a truly professional manner.  We look forward to your call! 11/01/2007

This week is packed with economic releases and major events that will likely lead to a fair amount of volatility in the markets and mortgage pricing. There are seven reports scheduled for release along with another FOMC meeting. There is no relevant data scheduled for release today, but there is data being released every other day of the week.The firs t will be posted tomorrow morning with the release of the Consumer Confidence Index (CCI) for the month of October. This Conference Board index will be posted at 10:00 AM and gives us a measurement of consumer willingness to spend. It is now expected to show a small decline from last month's 99.8 reading, indicating that consumers are a little less likely to make large purchases in the near future. As long as the reading doesn't exceed 99.... 10/31/2007

Private Mortgage Insurance helps you get the loanPrivate Mortgage Insurance, also known as PMI, is a supplemental insurance policy you may be required to obtain in order to get a mortgage loan. PMI is provided by private (non-government) companies and is usually required when your loan-to-value ratio - the amount of your mortgage loan divided by the value of your home - is greater than 80 percent. PMI isn't a bad thing - it allows you to make a lower down payment and still qualify for a mortgage loan. In fact without PMI, many of us would not be able to purchase our first home. How is PMI calculated?Your PMI premium is fixed based on plan type (loan-to-value ratio, loan type, loan term, etc.) and is not related to your particular credit history or other individual characteristics. PMI t... 10/25/2007

Closing the Sale EscrowTo finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller's and buyer's agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid.The documentation the escrow holder may be collecting includes:Loan documents Tax statements Fire and other insurance policies Title insurance policies Terms of sale and any seller-assisted financing Requests for pa... 10/25/2007

Give your mortgage an annual once overIf the last time you looked at your mortgage was when you closed on your loan, it's time to take it out for an annual once over.New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities.Is a fixed rate mortgage the best choice for you?Many of us opt for the certainty of a 20 year or 30 year fixed rate mortgage when we get our first mortgage.If you anticipate selling your home within the next 10 years, one of our new hybrid loans may be a better financial fit for you.Hybrid loans typically have a lower fixed rate than a traditional 20 or 30 year mortgage.The savings you receive can well be worth switching to a hybrid loan.Are you paying for Private Mortgage Insurance (PMI)?... 10/25/2007

Verifying Your Down Payment,Closing Costs, Assets, Income and DebtsA critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower.  Down Payment & Closing CostsDocumenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan.Take extra care to document the sources for any monies to be used for the down payment or closing costs.Acceptable Down Payment & Closing Costs SourcesCash in a bank account Mutual funds / stocks / IRA / 401(K) Proceeds from t... 10/25/2007

Your credit report is a record of your credit activities. It lists all of your credit card accounts and loans, the balances as well as your payment history. It also shows if any action has been taken against you because of unpaid bills such as a lawsuit or bankruptcy filing. Because businesses use this information to evaluate your applications for credit, insurance and employment, it's important that the information in your report is complete and accurate, especially if you plan to make a big purchase like a home. The Fair Credit Reporting Act (FCRA), enforced by the Federal Trade Commission (FTC), is designed to promote accuracy and ensure the privacy of the information used in consumer reports. Under the FCRA, both the credit reporting agency (CRA) and the organization that provided t... 10/25/2007

Monday's bond market has opened down slightly despite further stock weakness. The Dow is currently 52 points while the Nasdaq is showing a slight gain of 2 points. The bond market is currently down 4/32, which will likely keep this morning's mortgage rates at Friday's levels.There is no relevant economic news scheduled for release today. The week does bring us four pieces of data along with a Treasury auction. Only one of the four is considered to be of high importance to the markets and it comes Thursday.The first report is September's Existing Home Sales late Wednesday morning. Its sister report, September's New Home Sales will be posted Thursday morning. These reports give us an indication of housing sector strength and mortgage credit demand. I don't see them having much of an influ... 10/25/2007

Whether you are buying or selling a home, you should have a professional home inspection performed.A home inspection will look at the systems that make up the building such as:Structural elements, foundation, framing etc Plumbing systems Roofing Electrical systems Cosmetic condition, paint, siding etc If you are buying a home, you need to know exactly what you are getting. A home inspection, performed by a professional home inspector, will reveal any hidden problems with the home so that they may be addressed BEFORE the deal is closed. You should require an inspection at the time you make a formal offer. Make sure the contract has an inspection contingency. Then, hire your own inspector and pay close attention to the inspection report. If you aren't comfortable with what he finds, you s... 10/16/2007

Living TrustsCreated while you are alive, a revocable living trust lets you control the distribution of your estate. Ownership of your property and assets is transferred into the trust. You can serve as trustee or you can appoint another to serve as trustee. If you serve as trustee, you must appoint a successor to serve as trustee upon your death.Properly drafted and executed, a revocable living trust can avoid probate and delays as the trust owns the assets not the deceased.  Consult with your attorney and/or CPA before deciding if a revocable living trust is the right choice for you.Advantages to a Living Trust Holding Title A husband and wife can establish a joint revocable living trust.  While the trustor serves as a trustee or a co-trustee, a separate tax return is not required for... 10/15/2007