Can The Property Qualify for A FHA Loan?

           FHA loan on this property? Does it PASS this test?

  1. Look for water damage on the ceilings, sagging . . . appraiser will condition for repairs
  2. Is there a breaker or fuse box?   . . . Needs to be “breakers” will need to convert if its fuses, health and safety issue, is it wired 210 volts?
  3. No peeling paint on the outside or inside on homes built before 1978 . . . lead paint was used then and if there is peeling paint, the appraiser will ask for it to be scraped off re-painted and sealed .  Occasionally, peeling paint on the inside of the home will have  an underwriter asking for the peeling paint to be removed by a lead  paint  removal contractor
  4. Electrical outlets have to be working with electrical plates on, no exposed wiring; appliances will be checked to see if they work, water has to be turned on.
  5. How does the bathroom look? obvious dry rot and water damage ? Functional?  if not  it will be “conditioned”
  6. Gutters not functional? Roof showing obvious damage and dry rot on overhangs. . It could be conditioned to replace or fix. . or further recommendations on inspections
  7. Obvious termite infestations? , it will be noted on appraisal and need to be “fixed”before  transaction closes, can’t just be a “credit”
  8. Is the water heater vented and strapped? Is it showing obvious leaking? it’s a health and safety issue.  Check all faucets  for  pressure and that they are working properly. 
  9. Attic and crawl space will  have a cursory look for possible  roof damage.
  10. Unsecured foundation evidence or “slippage” Continue reading Can The Property Qualify for A FHA Loan?

This week’s Show! August 16th–Pete’s ON! Interest Rates,appraisal issues, Underwriting Headaches!

Mr. Pete will be on the show to give us a big annoucement of his new affiliation with Princeton Capital. I’ll let him explain the benefits to YOU the listener/consumer of his alliance with Princeton Capital. I know Pete will be his usual industrious, customer service oriented self! But we will also discuss the LATEST rates for your open house visitations plus all issues on Appraisals and Underwriting and the future of mortgages in the Greatest state of California!

  I’m also going to dicuss “Foreclosure Radar” which is a great tool we Realtor use to assist the Home Buyer and Seller in getting the best dollar value in this very competitive complex real estate market. All this and YOUR CALLS!! Don’t forget to Call-in at 707-636-1350! Always appreciated! 9 to 10am, Sunday, KSRO, 1350AM or at

Foreclosure Radar–What’s happening in Your Neighborhood?

Listeners, I have added a very unique tool called, “ForeClosure Radar” 

Home Buyers and Sellers

Recent trends in the foreclosure market present opportunities for those value home shoppers, whether as a personal residence or as an investment.  For sellers, knowing foreclosure activity in your area can help you set the most effective timing and pricing strategies to sell your home quickly. Whether buying or selling, consulting a Realtor® that has access to can also improve your chances of meeting your personal housing goals as they will have complete visibility to the housing market in your area.

Identify the best purchase opportunities

  • SEARCH FOR FORECLOSURE OPPORTUNITIES in your area, with easy to read map and list views.
  • NEGOTIATE THE BEST PURCHASE PRICE on a home by showing the seller the competition they face from upcoming foreclosures.
  • SEE THE CHANGING FORECLOSURE LANDSCAPE from an insider’s perspective.
  • GET EXPERT GUIDANCE working with a Realtor® that has access to By having the latest foreclosure market analysis, your Realtor® is armed with the tools and information to best advise you on real estate opportunities, whether non-foreclosure or foreclosure related. Continue reading Foreclosure Radar–What’s happening in Your Neighborhood?

Looking forward to sharing my insights.

I’m thrilled to be able to add my thoughts and insights to Mike’s Blog.  I will be posting my personal insight into this market with a unique perspectuive as a home-owner struggling along with the masses.  I’ll also throw in occasional tidbits of information  and resources gathered from my community involvement with the City of Santa Rosa, as well as fun facts about this great area we live in.  If you’d like to be added to my weekly newsletter email me at  you may also wish to visit my website I’ll also will be appearing on the Real Estate Hour on August 30th! Tune me in!

Allison’s Tips for YOU, The Buyer of Sonoma County Real Estate


Thanks for reading my post and visiting Mike’s Radio Show blog. As a Buyer’s Agent did you know that I am able to show you any home, lot, multi-family property that is available regardless of who the listing broker is? I am more than happy to accompany you to any open house, new construction or available listing of your choice at a time of your choice and must do so to be your personal representative throughout the transaction.

I will save you endless hours of frustration by acting as a clearing house for all the available properties in your market area and price range.

I will provide you with all the latest and possible financial alternatives, information about the escrow process, title insurance, down payment and closing costs.

In addition, I will introduce you to new neighborhoods if you choose, providing information on schools, shopping centers, recreational facilities and houses of worship. My hours spent with my local neighborhood group plus my intimate knowledge of City Services will give you a unique perspective on Santa Rosa and Sonoma County!

Working closely with me,  I will pre-screen homes that you see advertised and save you hours of work.Points to remember: As a buyer you can work with me as yourOwn personal Buyer’s Agent. I will make the process of buying a home as comfortable as possible. I am a professional Realtor who has worked exclusively in Sonoma County. I am available to:

  • Fit your busy schedule
  • I assist you From the first interview through the “showing process”
  •  contract negotiation
  •  escrow documents
  • obtaining financing and closure
  • I will facilitate your transaction with the utmost professionalism. Call Me today. Let’s set up an interview and see if I can help you obtain the next home of your dreams…

Allison Norman, CDPE *Realtor®

Keller Williams Realty  707-799-3617

*Certified Distressed Property Expert

Our “Interest Rate Guy” Pete Phillippe is ON THE MOVE! New Company-Same old Pete!

Here’s news on Pete’s new business affiliation. He’s much sought after as a manager as he knows many, if not all, the Realtors in Sonoma County and has a great positive, upbeat atitude.

I have left Prospect to join Princeton Capital Group.  . . .  a mortgage banker  which allows me  to underwrite,process ,fund and draw documents .  Princeton is a part of PNN which is the 8th largest mortgage lender in the United States .  There are about 20 offices of Princeton around the Bay Area with about 200 people.  I will be concentrating on maintaining and expanding the retail loan services with Realtors.  We have great loan programs  and are a far simplier and more “purchase responsive” organization. This will allow me to provide far more services to the consumer and our Radio Show listeners and  clients .  I wanted to share this exciting news with you and the listeners of the “Real Estate Hour”.  I’ll be on the show this weekend to discuss my move in more detail. Those with questions can call me at:  707-481-2737, my office is 707-535-8817 and my computer fax is 1-888-305-2473

 Pete Phillippe

New Writer Added to The Real Estate Hour Blog–Allison Norman-Distressed Property Specialist

Picture 005compThe Real Estate Hour is proud to announce the addition of Allison Norman as one of our local area writers/reporters. She brings a wealth of information on the Buyer, Investor, and Distressed property purchaser and seller to the Blog. She sends a very interesting weekly e-zine with her insights into this very perplexing and dynamic real estate market plus some fun-filled facts. A bit of a “tool-girl” she loves to work on her house and is constantly scouring for the best deal in “home improvement!”

  Her recent designation as a Certified Distressed Property Expert adds depth to her understanding of the needs of the Sellers and Buyers of distressed property either in the Short-Sale field or the REO/Post-Foreclosure properties. She is expert on dealing with REO (real estate owned) bank owned property and Asset Managers. We look forward to her weekly posts and insights!

Our Favorite Financial/Interest Rates Guy-Lou Barnes-Some quotes

From the August 7, 2009 column. You can always read Lou’s column on Fridays at or just listen in on the Show on Sunday mornings as I usually read snippets of some of his sage advice. Here’s a few:

“NAR’s (National Asssoc.ofRealtors)pending home sales surged 3.6% in June, but were not confirmed by other data. Purchase-loan applications are stil falt. Distres is still growign in the pipeline: new Fannie/Freddie (Fannie Mae/Freddie Mac) data have 90-day+ delinquencies up from 1.12% last May to 3.27% one year later. Since last May, 420,000 foreclosure starts; at 3.27% currently 90+…that’s another one MILLION loans going into the tank, Fannie/Freddie alone.”

“I share the world’s hopes for recovery of US demand. However, the only ideas of our that have orked are the $8,000 first-time-home credit, cash for SUVs and F-150’s You Bough By Mistake, and Fed life support by imaginary money. I would feel better if the authorities here understood that the panic-stop to the credit binge still has us going through the windshield. we can’t get this wrong; We are the World’s Airbag! (My emphsis)

Latest Sales Numbers for July Median down ONLY 10%!

The big news is we hit 500 Sales for the first time since October! Yeah! But we ARE in PRIME TIME so we’d better beat that wild and crazy October sales number.

  • The other BIG news is the median, usually dropping some 25%+ per month is down ONLY 10% over last years median!
  • Sales are up a modest 6.5% mainly due to the LACK of inventory. Last year at this time we had 2600 listings but are limping along in ’09 at just 1574 total homes on the market in Sonoma County!
  • Here’s some other categories and numbers:
  • REO’s or Real Estate Owned-those ‘post’ foreclosure–sales are down 32% over last year!
  • We only have 131 “Active” REO’s! REO’s make up ONLY 8% of the active market but 29% of ALLSALES! Wow!
  • Short-Sales: those with loan amounts HIGHER than the list price-sales have fallen 14% over last month at 86 but are up a whopping 42% over last year! However, the average time on the market is still a huge 176 Days! Of our 1058 in escrow or Continue to Show homes, 645 are Short-Sales! We ONLY have 67 pending which is a firmer transaction!
  • Oddly, the number of VACANT omes is now at 535 of All Active listings and 303 of ALL the 500 Sales or 60%! The foreclosure sales toal 46% (REO’s and Short-Sales”) but 14% more ARE Vacant! Interesting?!!

Listen to Mike and Allison on "The Real Estate Hour", Sundays, 9 to 10am PST, KSRO, 1350AM or 103.5 FM and