MURRIETA/TEMECULA/MENIFEE CA. REAL ESTATE - CAMERON WILSON

 Virtually everyone in the country has heard the Federal Government has been giving away free money not only to corporations but first time home buyers as well. As with all things an end of time will come and the $8000 dollar tax credit for first time home buyers is scheduled to end on November 30th of 2009. If you have not owned a home for the past three years you can qualify for this credit but time is running out quickly.

 Many home buyers have taken advantage of the credit to purchase a home in Murrieta, Temecula and Menifee California. Some of them amended their 2008 Federal tax returns and received their check already for the full $8000 dollars to spend as they chose with no strings attached. What a deal!!!!! Some actually put it into their savings accounts to build up the nest egg all of us need.

 Procrastinators beware as you must close escrow on your home by November 30th or lose out on the credit. There has been talk the credit may be extended but that is anyone's guess but for now it's a sure thing and there are only 73 days left to close escrow to qualify. With it now taking on average 45 days to close escrow on a home in Murrieta that only leaves 28 shopping days to find a home, get your offer accepted, and get it into escrow to close on time to qualify. This is cutting it close.

 You still have time to make it happen but now is the time to run, not walk, to an experienced Realtor to help you. All Real Estate is local so find a local Realtor who knows the area and the market to find the home that fits your needs and desires. Be sure to listen to the advice you receive from your agent as afterall we are here to help you achieve your dreams and goals of owning your own home.

 In the words of that wise ole sage Snuffy Smith " Times A Wastin" so get started today!!!!!!!

 Real Estate transactions are  complicated with much information being exchanged between the involved parties. Every buyer will be required to get a loan, other than cash purchases, and as we all know much information will be needed. Credit reports will be pulled, bank account balances will be verified and tax returns will be looked at. This is necessary to obtain a loan and you will be safe giving this to your lender.

 The problems can arise with other aspects of the transaction in my opinion. I haven't seen any bad things take place in the transactions I have been involved with but one can never be too careful. Identity theft is a problem in today's world and we all have heard horror stories of people who have fallen victim to it. Real Estate has not had a problem as far as I know and we all should watch out and protect our clients as it's our responsibility.

 Every buyer will be writing a check for their Earnest money deposit and a copy will be sent to the listing agent. Just this week I received three offers on one of my listings and each agent sent the offer along with a copy of the check. Something I always do with my buyer clients checks before sending the offer is to make a copy of the check and then use a black marker to cover the account number and routing number before I send the copy to the listing agent, None of the agents choose or thought to do this so I blacked them out on my copies.

 Another offer came in on a different listing of mine for all cash. The agent sent a copy of the check as well as proof of funds to show the buyer had the money to close the purchase. The proof of funds was two separate bank accounts and each statement showed the account balance along with the account number and the buyers name. The account number is not needed and I do not feel comfortable having that info in my office so I blacked it out.

 Real Estate offices by and large are safe and the agents do a great job of protecting consumers information. My concern comes in when sending offers, and information, is I don't know who has access to other offices. I don't know their cleaning crew and who may have a key to get in or heaven forbid a thief breaks in. Call me paranoid but please call me cautious when it comes to my clients.

 When it comes to Real Estate it seems everyone has an opinion or question. In today's market almost every day on TV, the Internet or in the newspaper you will get the opinion of a so called expert as to what's going on with the market and what the future holds. The experts hold their opinion as the Gospel Truth but in the scheme of things it's only an Opinion.

 With so many different talking heads people throwing their so called expertise into the mix it's no wonder the consumers are confused. Last week on TV I so a reporter in a neighborhood with some foreclosures, REO, make a totally unfounded statement. She stated that one street in particular was going down by 6% every time a property sold. There were no statistics provided to prove the statement but she concluded that the area would go down another 18% real quick as there were three foreclosure properties on the market. Must be new math because in the Murrieta, Temecula and Menifee areas the market is stabilizing.

 This past Saturday I held an open house on one of my Real Estate Owned, REO, listings in Wildomar. There was a total of 22 people come through the home, as it's very clean inside and out, and what I heard from the majority of them was total confusion as to the future of the market. Three folks in particular asked me what I saw in My Crystal Ball, as to when the market would turn around. Each of them are homeowners and they wanted to know when the values would go up again. All real estate markets are skewed in the sellers favor as it's only a good market when the values are rising according to the so called experts of the media.

 Personally I disagree that this is not a Good market. If you are a buyer it is a Good Market. Prices have come down dramatically and interest rates are low. When I bought my first home in 1978, OK I'm getting old, my interest rate was 10% FHA and today it's around 6%. That's still a good rate and now many first time buyers are able to purchase a home and with the $8000 dollar tax credit it may be one of the best times in history to buy a home.

 Since my crystal ball is dusty because of the changes that are taking place with the economy and the real estate market plus the bail outs I only know one thing for sure. If the government keeps printing money we will see interest rates rise due to inflation as the dollar loses value. It happened in the early 1980s and it may do the same in the near future. The result will be the home prices may fall but with higher interest rates the home buyers will be knocked out of the market.

 If you are considering buying a home please consult with local Professionals, Realtor, loan officers and your accountant to see if this is a good time fot you.

 Purchasing a home is a complicated process and it's always best to work with a Professional Realtor who knows the market and the ins and outs of the procedure. Many people think Real estate agents are simply door openers by gaining access to properties that are on the market. Nothing could be further from the truth and why anyone would put what may be their largest single investment into the hands of someone who "tries" to sell real estate as a part time way to make extra money is beyond me.

 Today I received a call from my grown son who lives in another state with his wife. That's always a good thing when the kids call the old guy just to say hey and let me know how things are going with them. Next month we will get to see one another at my daughters wedding and we got some of the details worked out. Then comes the Real Estate question that prompted this article.

 Seems my son has a friend who at the ripe ole age of 21 decided he needed to buy a home of his own. Tim is a very smart young man to realize the benefits of owning a home but by not knowing how to go about it he may not realize that goal at the moment. Seems Tim made an offer on a property that was accepted by the seller and into escrow they go. Good thing!!!!! Lender says his bank can and will make the loan. Another good thing.!!!! Tim is told by his agent not to worry through the whole process as everything will be fine. He expected to get his keys this past Wednesday but oooops no closing. Bad thing!!!!!

 Apparently the lender is having trouble fitting the loan into their guidelines as Tim cannot document all of his income. That happens sometimes but can at times be resolved if everyone works together. My son then asks me what could be done for Tim to get his home. Not knowing the whole situation and not wanting to stick my nose into others transaction I asked my son where Tim's agent was through out this whole process. Well it turns out Tim's agent is actually a auto mechanic at the dealership Tim works at and he promised to refund 50% of his commission at the close of escrow but he obviously does not have the time to keep up with real estate during the week. Bad thing!!!!!

 I did tell my son how I would have handled this transaction but after all I work full time for my clients. Tim may have to start all over in his search for a home and hopefully he will work with a Realtor who actually has the time to work for his client and is not just wanting to make a few "extra" bucks with his hobby. He lost out once on a home he loved by greed in wanting back part of the agents commission and going with someone who does not understand nor respect our Profession.

 If you are looking to buy a home in Southwest Riverside County including Murrieta, Temecula and Menifee please feel free to contact me. You can rest assured I work full time and very diligently for my clients and I will find you your next home. If your car is not running smooth take it to a professional mechanic but if you are looking for a home call a Professional Realtor.