David Ormonde's Blog

Why a Real Estate and Dinner Blog?  Well, we all live in a house and we all have dinner there and that makes those two things very important to most of us.  In the real world most of us want updated information about our most valuable asset, and then, oh yes, What’s for dinner tonight and how are we going to fit that into our busy day?

About our most valuable asset:

 Is that tax credit for homebuyers helping the economy?

According to the Realty Times the answer is yes.   Tax payers who use the tax credit, legislation signed by President Obama on November 6, 2009, are using the money to put back into the economy.  The vast majority are using the money to repay existing debts, home improvements, savings and investments, and household expenses. 

Since spending is the real fuel for the economy, putting this money to work is the goal behind using the housing market to energize the whole economy in the short term, and then of course getting the housing industry back to health again in the long term.   By late in October of 2009, more than 1.2 million tax payers had claimed almost $8.5 billion in refundable tax credits, using both the new home purchase credit and the resale home purchase credit, according to the Treasury Inspector General for Tax Administration (TIGTA). 

In addition to the $8,000 tax credit for first time homebuyers, a new credit of up to $6,500 is available to qualifying existing homeowners who buy a new primary residence (new or used) by April 30, 2010 and close escrow by June 20, 2010, providing they owned their existing home for five consecutive years over the last eight years (second homes don’t qualify – maximum purchase price is $800,000).  See details Internal Revenue Service (IRS.  

About dinner tonight:

How about Low Calorie Pasta in Cream Sauce and a Pear Torte you can make in minutes.

Pasta

Everyone likes pasta, but what about those calories; and then there’s the sauce!  Let’s try to cut the calories and fats while keeping the bulk and taste.  Cook your pasta as you normally like (be sure to salt the water).  Just before the pasta is done, add vegetables, such as zucchini, cauliflower, etc. cut into shapes similar to the pasta.  Bring to a boil again and cook for only an additional minute, then rinse with water and strain.  Put the pot with pasta back on the stove top with heat to simmer.  Add olive oil, (1) non-fat can milk, onion powder, touch of nutmeg, and then simmer until mixture thickens slightly.  Remove from heat and stir in Parmesan Cheese until you get a thick and rich consistency.  Serve in large bowl-type plates, garnish with lots of salted, chopped fresh tomatoes all over the top.  YUM……….. 

For the torte, slice pears (or whatever fresh fruit you have) and sauté in a large pan with ½ cup sugar, 1 whole lemon juice, ¼ cup water, light salt, and ¼ lb. butter until the juice turns slightly golden and thickens (don’t cook the fruit completely-you only want to glaze it)  Turn off heat and leave.  In a food processor, add 3 lbs. nuts, 1 cup sugar, ½ cup flour, 2 egg whites, and a shot of liqueur.  Processes until you have the mixture in a ball.  Remove the mixture with spatula and add to your favorite cooking pan.  Using water-wet fingers shape the mixture to mimic a pie crust.   Add the fruit by arranging as shown, and then pour the left over juice from the pan over the top.  Cook at 375 degrees for about 35 minutes (convection 350 degrees for 30 minutes).

The real estate and dinner blog

How to prepare a home for sale in the Tracy/Mountain House area of California.

Preparing a home for sale is always tricky and there are lots of lists you can follow, most of which make sense when you stop and think about it.  Making sure the laundry is put away, cleaning the kitchen, packing up the garage, etc.  Those are the obvious things, but what about the obvious and the things specific to your area. 

If you live in Tracy or Mountain House we all complain about the wind, but we get so accustomed to it we never think about how that might affect the sale of our house.  Although you can’t change it and you certainly would not want to lie about it, the fact is you can do things to mitigate the issue by saying things like, ” the wind in this area keeps us cooler in the summer and helps to clear out any air pollution”.   In addition, think about the following when preparing your home for sale in the Tracy/Mountain House area. 

• During the summer months landscaping tends to really dry up and turn brown.  Pay attention to this change and add extra watering cycles or times if allowed. 
• The wind can really stir things up in the spring and summer months.  Take extra care to be sure landscapes are free of debris from the wind.  A prospective buyer does not want to see debris all over the yard, even in the wind. 
• Some parts of the Tracy area have really hard water.  Be sure to point out the fact that you have water treatment or softeners.  Use this as a selling point instead of a negative. 
• Some homes in and around Tracy may experience extra noise from the wind, farming, or freeways.  Use simple decorative water fountains, chimes, and/or music when showing to mitigate the sounds.  You can’t hide the sounds, but you can show that simple tricks will create a quite and serene environment even if the outside is noisy. 
• Above all, be sure to always keep it neat and clean during showing.  Take a tour of your home before showing it to see how each room really looks.  If a room looks dingy or boring, sometimes all it takes is a little splash of color to brighten it up.  Try to think like a buyer and everything will make sense. 

Now is the time of year to get the most delicious wild mustard greens from just about anywhere around the Central Valley.  Look for the yellow flowers just after a heavy rain for the best taste and results. 

Now for dinner           Try picking some fresh mustard greens this time of year just after a rain before the crowns turn to yellow flowers.  The are delicious and better tasting than broccoli.   Here is a recipe for you to use after picking your fresh mustard greens. 

Pick just the crown and surrounding leaves for the best taste. If possible, get the crown before it turns into a yellow flower.

The Real Estate and Dinner Blog

The Tracy area historically has always been slim pickings for foreclosure buyers mostly because of its proximity to the Bay Area, of course until everything about real estate changed in the past few years.  The Tracy/Mountain House areas are literally the closest commute to the thriving East Bay and Tri-Valley areas, where seemingly all persons must commute. 

That being said, even considering the news on the national stage about waves of new foreclosures coming on the market, the Tracy/Mountain House real estate market is a market unto itself.  As the price of gas seems to have become an acceptable nuisance, and the job markets rebounding across the hill, these areas are breaking away from the rest of the Central Valley if you follow the real estate stats.   From a Realtor’s vantage point, it is difficult to find an available listing for a buyer in Mountain House or Tracy, let alone a foreclosure bargain.  Of course one could argue all listings are bargains compared to the prices of yesterday. 

If you feel this information is leading us to continued pressure on home values in the are if the Central Valley, then buying foreclosures may make sense.  If it makes sense to you, here are some things to consider when buying foreclosures.  If you do not want to devote full time to the venture, and you are not a real estate expert, hire a Realtor by finding someone with experience in foreclosures and sign a Buyer Representation Agreement with that Realtor.  That will convey to the Realtor your level of interest and commitment, which should get you the undivided attention of a professional in the field. 

1) Avoid outstanding liens by either doing your homework on pre-auction homes or sticking to post-foreclosure listings.  2)  Understand home values in the big picture knowing that prices in real estate have become as volatile as stock prices.  3) Be prepared for surprises by making sure your decision to buy will not leave you with enough resources to undo any mistakes you may make 4) Know the area by either studying your particular market or by hiring the services of a professional Realtor in your are of interest.  5) Understand your financing needs by getting pre approved for the necessary loan before negotiating a purchase, or making arrangements for a cash purchase ahead of time.  6) Give your strategy a timeline by writing a plan with with a budget for one year, 5 years, and ten years, along with a contingency plan. 

If you can handle these issues you will probably do well no matter where the real estate market takes you and your investment.  Here is what’s cooking for tonight at our house.

Quick Pan Fried Salmon

If you always keep cooked brown rice or pasta in your refrigerator you can microwave it and then build your dish on top of it to make one-plate meals that are appetizing, healthy, and nutritious and  this dish can be made in a matter of minutes.  After preparing your favorite green vegetables, simply prepare your salmon into small pieces on a metal surface for 30 minutes to bring to room temperature (the temperature of the meet determines how well it will cook without becoming tough or dry).  In a good, solid pan add olive oil and sprinkle Johnny’s seasoning.   Simmer at medium heat for a few minutes not to burn, then add your pieces of salmon one by one.  Sear for about 3-4 minutes on each side (maximum time) and remove from heat immediately.  (Don’t worry if the fish is not completely cooked as it will continue to cook slightly after done.)  Arrange the vegetables and salmon over the rice and serve.

Today’s news for Central Valley real estate is really all about the new FHA rules coming down the pike.  Here’s what will be coming:

  •Borrowers will be unable to finance upfront premiums

•Seller concessions will be reduced from 6% to, possibly, 3%

•Borrowers must have a minimum FICO score and their maximum loan-to-value ratio may be impacted by their FICO score

 •Mortgage Insurance Premiums may be raised from their current 1.75% level.

 •Several new rules will be affecting lenders as well

 For more information please visit the NAR website by clicking here

Dinner tonight:

Quick and Easy Seafood Pasta

Bring large pot of salted water to boil-add whatever greens or mixture of greens you can find cheap at the market today, return to boil-Strain-sprinkle with olive oil-Cover and let set. 

Bring to boil 1 pound of fettuccine pasta in large pot of water with handful of salt-cook to taste-rinse with water-return to stove top- add 1 can milk, 1/4 pound butter, teaspoon  onion powder, grind fresh pepper to taste- bring to simmer and then leave to sit with lid (keep it wet, not dry)-In a large skillet bring to soft boil 1can  milk, 1 teaspoon salt, one teaspoon onion powder-Sprinkle in 2 TBS Wondra Flour and 1 cup white wine, add about 3 tablespoons of Catsup, Allow to thicken slightly.  Keep at low boil and add whatever seafood you want.  Cook 3-4 minutes turn off heat.  Go back to pasta and add Parmesan Cheese until slightly thickened, then immediately-place individual servings of pasta onto plates-scoop seafood and sauce onto pasta-Sprinkle vegetables lightly over pasta.  Bon Appetite!

Things you should have in your cabinet and/or refrigerator at all times:

Pantry

Can milk,Best Food Mayonnaise, Costco Gourmet Sauce, Costco Jonny’s Seasoning, Costco Bacon Bits, Costco Pine Nuts, Costco Worchester Sauce, Costco Dried Tomatoes, Costco Bottled Artichoke Hearts, Wondra Flour in a shaker container, Costco Fresh Sea Salt and Pepper Grinders,

Refrigerator

Fresh Parsley, Fresh Basil, Fresh Green Leaf Lettuce, Fresh Roma Tomatoes, Fresh Idaho Potatoes, Fresh Onions, Costco Fresh/Peeled Garlic (keep frozen), ,  Smart & Final large container of grated Parmesan Cheese (keep in refrigerator),

No matter what you may think of the mortgage meltdown, the economic crisis, or the mess in the housing industry, there is no doubt we need to get the sale of houses moving.  In order to spark the economy you need to get houses sold no matter what the circumstances are, so that people will be able to move without going through the horror of a foreclosure. 

Help is on the way.  The U. S. Department of Treasury has initiated the HAFA Program (Home Afford Foreclosure Alternatives Program), which provides instructions for lenders and servicers to find alternatives to foreclosure by streamlining the loan modification and short sale processes. 

The HAFA program will simplify and encourage short sales and deed in lieu of foreclosure, giving frustrated homeowners an alternative to foreclosure.  It will also permit pre-approval of short sales and the terms of sale before listing, release borrowers from future liability for the debt, and provide financial incentives for the borrower, servicer, and investor, and even protect real estate commissions to help ensure the system works. 

For more information go to www.GoTracy.com where you can get more complete information and help for your short sale.

If you are thinking about short selling your home ( I assume you have already looked into the possibility of getting a loan modification) the first thing you want to do is to get an experienced real estate agent.  An agent who has successfully completed and closed at least (5) short sales should be able to get you through the process.  As you may have heard; there is nothing short about a short sale. 

After you have exhausted the possibilities of a refinance, a loan modification, or any other remedy you may have, your real estate agent is going to need to get some basic forms completed and signed by you to submit to your lender in order for him/her to communicate with your lender.  After that is completed and verified, your agent will most likely list your home for sale on the Multiple Listing Service for maximum exposure. 

Once an offer is received (in many cases several or more offers will be received) you will be asked to review the offer, consider the merits of the offer, and then accept the offer subject to your lender approval.  That’s where the fun begins (not for you but for your agent).  Your agent will begin the “negotiation” process working with your lender(s) in order to get their approval of your “short sale” proposition.  Remember, your lender is probably going to lose a lot of money accepting your deal, so don’t expect them to roll over and agree to everything you want. 

If and when your lender(s) agree to accept your “short pay” you will be notified in writing and then be given a certain specified period of time in order for your buyer to get their financing together and close escrow. 

If this all sounds too good and easy to be true, it probably is.  Currently we are seeing about only 50 to 60 percent of the short sales closing.  The others are not making it through the system for one reason or another.  The most common reason for failure is because the buyer is not willing to wait for the approval.  Most buyers cannot wait for an unspecified and uncertain period of time just to find out whether or not their offer is going to be approved. 

For more information about short sales click here.  How to get a $2,500 Visa Card after your short sale.

Selling a luxury home in today’s challenging market is even more difficult than ever because the cost of marketing the luxury home needs to be in check with the shrinking number of actual sales.  Locally, in the Central Valley of California the number of luxury homes compared to all others is very small and very few agents specialize in marketing luxury homes because it is a very specialized market. 

The steps in selling a luxury home include many of the same steps needed to sell any other home, except that your audience may be very different and the level of expectations may vary greatly.  In addition to the usual preparation, the following recommendations can bring a better price and a faster sale:

Pretend your home is a model home.  How does it compare? 

Does the entry to your driveway and entrance look impeccable?

Do you have color brochures (preferably books) available in a "Marketing Center" of the home for buyers to see and take with them?

Do you have a virtual tour and/or a video of the home and grounds for buyers to preview?

Is your home readily available for viewing at all web portals?

Do you have a website for your property (i.e. www.123Paradise.com)

To view marketing ideas for your luxury home go to www.SellThisLuxuryHome.com  or visit www.DavidOrmonde.com

 Also, see related information below:

http://books.google.com/books?hl=en&id=MfdCzE2KhQIC&dq=luxury+homes&printsec=frontcover&source=bll&ots=p6M8cCiy5K&sig=Ip6FF_3WwPnlHyUG1Kf0O184zK0&sa=X&oi=book_result&resnum=11&ct=result#PPP1,M1

http://books.google.com/books?hl=en&id=4zmr6Hl14AQC&dq=luxury+homes&printsec=frontcover&source=bll&ots=qPm4-Iv0L1&sig=r3kvC9T2t6mzBzXOm-tNj6XXvog&sa=X&oi=book_result&resnum=12&ct=result

http://www.luxuryhomemagazine.com/index.cfm