The Race is ON!! California 1st Time Home Buyer Credit! Here’s the Application!

  How long the much anticipated California 1st Time Home buyer credit will last for Sonoma County Buyers? How about 2-3 weeks! So click right HERE for the form!  And if you want more information on not ONLY the First Time Home Buyer credit but ALSO the new HOME credit then CLICK RIGH HERE!

 You’d best move REAL QUICK once you close escrow. Hopefully you are already IN or are about to Close or have JUST closed! The NEW CONSTRUCTION credit will be around for a while due to the lack of building happening in the past 3 years but the California Assoc. of Realtor conducted a survey stating that with the amount of current 1st Time Home Buyers in escrow, the credit will be GONE in weeks! So JUMP ON IT!

Pacific Coast Builders Conference–Debuting of “HybridCore Home” –Alternatives to New Homes in Sonoma County, California

Alternatives to New Homes in Sonoma County,California — Debuting of the “HybridCore Home” CaliforniaPacific Coast Builders Conference (PCBC )HybridecoreImages

PCBC is a community of builders and manufacturers, building scientists and architects, environmental engineers and landscape companies, working together to advance the art and science of community building. Started 50 years ago as the Pacific Coast Builders Conference, PCBC brings together people creating better communities, imagining and building the places where we love to live.

HybridCore Home to Debut at PCBC

PCBC takes pride in advancing the art and science of community building and will continue that tradition in 2010 with the unveiling of an exciting new home building paradigm designed to cut costs while providing the utmost in quality and efficiency. HybridCore Homes has chosen PCBC 2010 as the debut showcase for their new HybridCore Home, which promises to shake up the industry at its very core. Continue reading Pacific Coast Builders Conference–Debuting of “HybridCore Home” –Alternatives to New Homes in Sonoma County, California

$604,900! our newest REO-Nielsen Ranch!Fountaingrove, Santa Rosa, California!

Allison and I have a new REO from Bank of America here in  Santa Rosa, California! Come by and see 3436 Baldwin Drive with a  bargain price of $604,900 for 2800+ square feet, 4 bedrooms, Family room, media room w/fireplace, formal living with soaring ceilings and traditional hearth fireplace! Stunning w 4 bedrooms, entertaining on a majestic scale! The kitchen with a huge Island kitchen will be the focal point for the busy family as it adjoins a family room with tiled decking. Upstairs a “HUGE” master suite with large sitting area, luscious soaking tub and sunset views! Come by today! Take Bicentennial to Lake Park and go right UP the hill to where it “T”‘s into Baldwin. Look for Allison’s Signs!

Note the large Island in the Kitchen, hardwood flooring, two fireplaces, one within the living room with floor to ceiling soaring windows and dramatic staircase, family room adjoins kitchen. Come by today!

State of California 1st Time Home Buyer Credit–$100 Million–Gone by Mid May?

  Here in Sonoma County, California, we just attended a contracts class by the California Assoc. of Realtors Gov Hutchinson where he predicted the $100,000,000 1st Time Buyer credit of $10,000 will be gone, according to their projections, by Mid to late MAY!! The program BEGINS MAY 1st!  How? They extrapolated the amount of transactions in the works, projected half being 1st time home-buyers and the $100 Million will get eaten alive in a heart beat! The 1st Timer will receive, at the close, a paper they need to fill out and fax in to the state. Gov predicted a state employee standing by a fax machine with a time stamp and raking these applications off the fax machine–STAMP,STAMP!!!  GONE!

  So, what’s a 1st Time Home buyer to do? If you are in escrow now get that sucker closed! And make sure the FIRST THING you do is fill out that form and GET IT IN!! Good luck!  And if you want to know HOW to get a home quickly give Allison Norman at call at 707-799-3617 or  Better call quick!

Sonoma County 1st Quarter Sales Data–Mixed bag!

We had a great presentation by Coldwell Banker manager, Rick Laws, he who reports to the Press Democrat on manners of real estate sales data. It chock full of data but as Rick says, “Ones entitled to their own opinion but not their own facts!”  Click on THE WHOLE REPORT to see the detailed results.

Some Highlights: 

Inventory is way down! Sub $500,000 market has a months supply of inventory which has fallen 60% over last year at this time. Yes, all you buyers KNOW that!

However, Sub $500,000 “Solds” NOT moving at all year over year with almost FLAT numbers but for sales properties off -20%! So folks are buying in this price point but the numbers are NOT all that compelling in response to the lack of inventory.

No Inventory sub $500,000? Government Intervention. However, “Under Contracts” is WAY up almost 53%!! So April 30th, the END of the Federal 1st Time $8,000 credit and $6,500 move-up credits are expiring so folks are getting INTO escrow. Let’s just hope they are NOT all Short-Sales!!

Some Questions? REO/Short-Sale market still 50% percent of sales but how many of the “others” are FLIPS? Those properties purchased at the courtsteps when the banks sell their foreclosures?


Allison Joins Mike today in a discussion of the Latest Government Program HAFA and the Lates Sales Data!!

Allison Norman joins Mike Kelly today on the Longest running Sonoma County,NorthBay RealEstate Talk show in the UNIVERSE!! Or thereabouts! We will be discussing the latest government intervention program (click on the the Blue lettering to go to  our complete Short-Sale file!) ; HAFA (Housing Affordable Foreclosure Alternatives) program plus the latest FHA Refinance program–are YOU eligible? For the HAFA program you CAN’T have a Fannie Mae or Freddie Mac Loan. How do you find out? Go to:

Look Up Your Loan

If your mortgage loan is owned by Fannie Mae or Freddie Mac, you may be eligible for a Home Affordable Refinance to take advantage of lower interest rates. Only loans owned or guaranteed by Fannie Mae or Freddie Mac are eligible. Your mortgage company can tell you who owns your loan, or you can contact Fannie Mae and Freddie Mac directly by clicking on the links below and completing the forms for each company. Your mortgage servicer can also provide more information. Find their contact information here.

Fannie Mae

Freddie Mac

We will also be disussing the HAFA program in more detail and Sales Data for March! Sales are picking up but right around last years numbers! Median up a tad–this and Allison’s Buyer’s Insights on the show today!!

Don’t forget to call in at: 636-1350 or 888-636-1350 or listen on the Internet at:  or Email us at:

Interest Rate Updates for Sonoma County!! Pete the Interest Rate guy!

Pete Phillippe  Interest rates as of April 5, 2010! 

Cell 707-481-2737

Here comes the higher rates we have been talking about for a few months ,as the government backs away from buying so many of the mortgage backed securities we lenders are generating . . . so rates have to go up to attract new buyers ! The 5/1 arm is still at 4.0 % which is amazing . Don’t let your clients wait! Economy is improving, means higher stock prices ,inflation and interest rates 

To $417,000 5.25 % 30 yr fixed 1/2 pt or 5/1 arm 4% 1/2 pt ( still low)

Investment property loans , 5.5% 1 pt to $417,000


To $662,250 5.25% 30 yr fixed at 1 pt

FHA loans to $417,000 5% 1 pt , to $662,250 5.25 % at 1 pt

Just 3.5% down!  To $2,000,000 70% ltv 5.75% 1 pt


Sonoma County Homeowners in Distress? HAFA may be your ticket out!

Who is Eligible for HAFA? Homeowners in Sonoma County,California in Distress need to read the qualifications of this “game changer” loan program.


The HAFA (Housing Affordable Foreclosure Alternatives) program will be offering homeowners with NON-Fannie Mae and Freddie Mac loans–a way OUT of their homes if they so desire! Here’s to see if you qualify!

Call Allison and she can determine IF your loan is a Fannie Mae or Freddie Mac Loan!!

Who is Eligible for HAFA?*

Most homeowners facing financial hardship are eligible. As a rule, if a homeowner is eligible for HAMP but cannot pay the mortgage, then he or she is eligible for an assisted short sale through HAFA. However, loans owned or guaranteed by Fannie Mae or Freddie Mac do not qualify. Servicers must consider possible HAMP eligible borrowers for HAFA within 30 calendar days if the borrower has met one or more of the following criteria1:

Sonoma County Buyers! Top 10 Signs-Your Offer was NOT Accepted!


  1.  The Property goes to “Pending” in the MLS while you are waiting to hear back from your Realtor!
  2. Your Realtor sends  you a text message with the first words being, “Sometimes you win..,”
  3. You drive by the vacant house and a moving van is in the driveway unloading furniture!
  4. In an email from your Realtor the subject line says, “How about backup position?”
  5. You call the listing agent and his assistant says, “Oh that had an offer accepted a week ago!”
  6. Your Realtor wants to show you more houses tomorrow.
  7. Your Realtor calls and says, “I didn’t think that area was right for you..,”
  8. Calls to the listing agent are never returned (must be an REO agent!)
  9. You find out 10 of the 20 offers are cash and you’re FHA and want 3% back in credits!
  10. Your Agent calls you back and says congratulations but then realizes you’re the wrong buyer and admits to writing 3 offers from 3 separate buyers on the property!!

Lou Barnes Commentary on the Mortgage Markets! Rates spike–Always on “Good” news!

By Louis S. Barnes                                                                 April 2, 2010

          A pleasant surprise in March hiring has pushed up all long-term rates: 10-year Treasurys to 3.94%, and mortgages to 5.25%.
     Even better news than the jobs: rates could have gone a great deal higher. Other new data this week were as positive as employment:

  • The ISM survey of manufacturing in March jumped past expectations to the best reading since 2004, a 59.6 reading. The level of industrial activity is still below pre-recession, but improvement is clear.

  • Rebounding auto sales are pulling all the way through the supply chain from inventory rebuilding to the shop floor to raw materials. Sales were 10.4 million in 2009, and the pace now is 12 million (however, note the average ’97-’07: 16.8 million).  

  • Hot emerging markets are also pulling exports from our most competitive industries, notably heavy equipment and IT. Continue reading Lou Barnes Commentary on the Mortgage Markets! Rates spike–Always on “Good” news!