Greetings from Jennifer
Ross - Realtor
Valentine's Day I decided to take Valentines to the residents at
the "Memory Care" unit at St. Paul's retirement
home. I found these cool cards that were 3D with dogs and cats
that smiled and jumped off the card when the card was moved at a
certain angle (okay, okay slightly twisted but they were fun!).
As I handed each resident their valentine and bag of M&M's,
their faces absolutely lit up with smiles!
My day ended with a dozen yellow roses and dinner at JRDN on the
beach...a very nice day!
The Winner of This Week's
Charles won a $50 restaurant gift card - congratulations!
The next drawing will be in a few weeks......
Association of Realtors said existing home sales in January rose 4.3
percent to an annualized rate of 4.57 million units. But even more
important was the news of housing inventories, which dropped to 2.31
million units, equivalent to a 6.1-month supply. That is the lowest
inventory ratio since March 2005. By the way, the West led the way in
sales, rising 8.8 percent over the previous month and accounting for
more than a quarter of all sales across the country.
Also, a new
survey found real estate is the investment of choice for 84 percent
of people. That compares to just 10 percent who favored mutual funds,
4 percent who would opt for stocks and just 2 percent who would put
their money in savings. "The most significant outcome of this
survey is the overwhelming confidence in a long-term recovery. People
understand now, more than ever, that building wealth in real estate
takes time," said Gregory Rand, CEO of OwnAmerica, a marketing
services company for the residential real estate industry.
Makes Deal to Keep You in Your Home
The U.S. Federal Government reached a $25 billion agreement with the
nation's five largest mortgage brokers to address home loan servicing
and home foreclosure abuses. Up to $18 billion will benefit hundreds
of thousands of homeowners in California. In a statement, State
Attorney General Kamala Harris said that "California families
will finally see substantial relief after experiencing so much pain
from the mortgage crisis. Hundreds of thousands of homeowners will
directly benefit from this California commitment."
If you have a mortgage with any of the five major banks: Bank of
America Corporation, JPMorgan Chase & Co., Wells Fargo &
Company, Citigroup Inc. and Ally Financial Inc. (formerly GMAC) you
may be eligible for mortgage relief, even if you've already been
of the Settlement:
- The five brokers will reduce loans for
nearly 1 million households and send checks of about $2,000 to
about 750,000 Americans who were improperly foreclosed upon.
- Borrowers who are current on their
mortgage payments but underwater will be able to refinance their
- Lenders under the agreement will pay
billions of dollars in damages to the federal government, state
governments and borrowers.
- Immediate aid to homeowners needing loan
modifications now, including first and second lien principal
reduction. The loan servicers will reduce up to $17 billion in
principal reduction and other forms of loan modification relief
- Immediate aid to borrowers who are
current, but whose mortgages currently exceed their home's
value. Borrowers will be able to refinance at today's low
interest rates. Servicers will have to provide up to $3 billion
in refinancing relief nationwide.
- About $1.5 billion will be distributed
nationwide, in the form of $2,000 checks, to about 750,000
Americans who were unfairly or improperly foreclosed upon.
- Immediate payments to signing states,
which includes California, to help fund consumer protection and
state foreclosure protection efforts.
- First ever nationwide reforms to servicing
standards. These servicing standards require single point of
contact, adequate staffing levels and training, better
communication with borrowers, and proper standards for completing
documents in foreclosure cases, ending improper fees, and ending
dual-track foreclosures for many loans.
- The State Attorney General will have
oversight of national banks for the first time.
The banks will
have three years to fulfill the terms of the deal. To find out more
about the settlement, click here.
of the Week
Angus and Julia Stone:
Big Jet Plane
My daughter Alexandra shared this beautiful video with me, and I
thought I would share it with you as well - enjoy.
In the end it's
not going to matter how many breaths you took, but how many moments
took your breath away.
As always, feel free to give me a call 800-913-7677 with
your real estate needs. I appreciate your referrals.
Over 22 years in
Real Estate sales
Serving all of San Diego
yr fixed: 3.35%