Avoid Unwanted Visitors ~ Don’t Forget To Change the Locks!
Buying a new home is so exciting! You just can’t wait to get in and paint and maybe replace the carpet. You have had discussion after discussion on where the couch will go, who …
We all love to save money! Some of these you may have already incorporated, but I bet you did not know some of these helpful hints!
Via Karen Rittenhouse (Triad Residential Solutions):
30 Ways to Save Money on Utilities
1. Check it out! In many area…
Good News! House Has Passed Federal Tax Credit Extension!
Well, it is official. For those of you who were fortunate enough to get under contract prior to April 30th 2010, you will be pleased to know the House has passed the Federal Tax Credit extension…
Homes For Sale Santee CA ~ Prospect Hills
Located just south of Mission Gorge in Santee, CA there is a beautiful development of homes nestled among the hills known as Prospect Hills. 
These beautiful homes range in size from 1700 square feet to 2700 square feet. Each home is beautifully set on a large lot with views to die for. Built in 1999, these highly desirable homes in west Santee come with 4 to 6 bedrooms and 2 to 4 bathrooms. Each with 3 car garages there is plenty of room for the quads, dune buggies and boats!
Enjoy the Santee evening lights from both the front and backyards of all of these homes. Set perfectly on the hill so that each home can take advantage of the breathtaking views.
Mature landscaping and pride of ownership is present throughout the neighborhood. 
Chet F. Harritt Elementary and West Hills High School. both provide quality education Santee is known for.
Just a short walk away from Big Rock Park and Mission Trails, there is plenty of activities to support your active lifestyle. Don’t forget to visit Santee Lakes for fishing, camping, paddle boats or just a lazy Saturday afternoon.
Minutes from 52 and 125 your commute to any part of San Diego from Santee is easily accessible.
With plenty of shopping from Kohls, Lowes, Home Depot, Target….you won’t need for anything! Santee Trolley Square provides access to the Trolley, bus depot and year ’round entertainment! From the Summer Concert Series to the Santee Street Faire, Santee is a wonderful, family community.
Are you looking for Homes For Sale in Santee? Prospect Hills is just one of the many wonderful neighborhoods located here. This is my hometown, let me show you around.
Making the Home of Your Dreams A Reality. As your Agent of Possibibility it is my intent to make your home buying or selling process a smooth one!
Please feel free to Subscribe to All Possibilities Throughout San Diego or contact me at 619-838-4408.
Your Credit Report-The Basics
Every time you apply for credit, you’re giving lenders permission to see your credit report. Don’t you think it is important for you to see what they are seeing? Be proactive and check your credit report on a regular 
basis. By reviewing your credit report and understanding what is on it, you will be prepared for negotiations with lenders and will be able to detect the early warning signs of fraud or identity theft.
How to obtain your credit report
You should review your credit report from the three major U.S. credit reporting agencies (Equifax, Experian, and TransUnion):
Free credit reports
You are entitled to one free credit report from each of the three major credit agencies once a year. In order to obtain a free credit report you must order it through Annual Credit Report.com
In addition, you’re entitled to a free credit report:
Did you find an error?
In review of your credit report annually for accuracy, if you find an error you will want to request dispute form from the credit reporting agency. You may find the error is only reporting on one of the bureaus and not all three. Be sure and obtain the correct paperwork from the bureau reporting the error. If the error is reporting to all three, make sure you follow the specific instructions for each one. The agency will then investigate and must respond to you within 30 days. Only the credit agencies can correct the data on your report.
How mistakes are made
Often times when a credit report contains errors, it may be because the report is incomplete, or contains information about someone else. This typically happens because:
Some incorrect data, however, may be an indication that you have been the victim of fraud or identity theft (for example, someone has applied for credit in your name or used your credit without your permission). By reviewing your credit report annually you should be able to catch these mistakes and take action to correct the error or take the required steps to report the fraudulent activity.
A good credit history can open a world of financial opportunity. The following are just a few things a good credit report can influence, and why you should know where you stand.
In addition, your credit history can influence:
Maintain Your Good Credit
By following the tips below, you can be sure to keep your credit score where it needs to be:
Understand the length of your credit history
If you are new to having credit, don’t rush out and open a lot of new accounts. New accounts will lower your average account age. This will have a large effect on your credit score if you do not have a lot of other credit. Additionally, a rapid account buildup will look like a larger credit risk to a creditor if you are a new credit user.
Getting new credit 
Manage the types of credit you have
Remember the 20/10 Rule: Never let your credit card debt get to be more than 20% of your total yearly income after taxes. And each month, don’t have more than 10% of your monthly take-home pay in credit card payments.
Once you have established your credit history, the most important thing is to keep control of it so you can achieve your financial goals without getting too far into debt.
Making the Home of Your Dreams A Reality. As your Agent of Possibibility it is my intent to make your home buying or selling process a smooth one!
Please feel free to subscribe to my blog or contact me at 619-838-4408.
One of the first things you will be doing in your new home search is getting pre-approved for a mortgage loan. While going through this process, you will come across financing terms that you may not be familiar with. Your understanding of these financing terms will help you make an educated decision on what the best loan for you will be. In addition, while speaking with your loan officer, it is important you understand
the process. Understanding some of the financing terms will help make sense of all that is going on.
• Adjustable Rate Mortgage (ARM)~ This type of loan has an interest rate that will adjust after a pre-determined period of time. The time periods can range from 6 months to 10 years.
• Amortization ~ the way a loan is paid off, with regular payments over a specific period of time. Payments must be sufficient to cover both principal and interest.
• Annual Percentage Rate (APR)~ the actual interest you are paying which factors in fees, points and other costs paid for obtaining the loan
• Appraisal/Appraised Value ~ A report completed by a qualified professional that makes a complete market analysis of a properties surrounding area to determine a reasonable value for a home. Based on comparable properties that have recently sold.
• AUS/DU/LP~ Automated Underwriting System/Desktop Underwriter (FNMA)/Loan Prospector(FHLMC) Using completed loan application information, an automated underwriting systems retrieves relevant data, such as a borrower’s credit history, income information, asset information and arrives at a logic-based loan decision.
• Buy Down ~ Money paid to “buy down” an interest rate. Interest rates may be permanently bought down by paying points or temporarily bought down 1 year, 2 years or 3 years. Example: interest may start at 3% for the first year, 4% for the second year 5% for the remaining life of the loan.
• Caps ~ Both payment and interest rate safeguards set in place for an ARM loan that will not allow a payment or interest rate to increase over a certain amount in a given time period.
• Certificate of Eligibility~ Document given to qualified Veterans that show their eligibility to use the benefit of a VA Home Loan.
• Closing ~ The date written into your offer as when the escrow will be completed. Money will be transferred to the seller. Close of Escrow date.
• Closing Costs ~ Expenses over and above the purchase price of the property for lenders fees, appraisals, property taxes, escrow and title fees.
• Conventional Loan ~A mortgage loan that is not insured or guaranteed by a government entity. A loan that will meet guidelines set forth by FNMA (Fannie Mae) and FHLMC (Freddie Mac) (also known as a conforming loan)
• Credit Report ~A detailed report of all loans, credit cards, car payments and the payment history for each. Will include all current and closed accounts. Will also include any liens or judgements in public record.
• Credit Score~also known as FICO score. Based on the information in your credit report, it is a statistical summary of the payment history. It is a mathematical summary calculation that gives numerical values to information in the credit report. YOUR CREDIT SCORE IS AN IMPORTANT FACTOR IN OBTAINING A MORTGAGE LOAN
• Debt to Income Ratio (DTI)~ This figure is calculated by taking any long term monthly debt and dividing it into your gross monthly income to determine affordability.
• Deed of Trust ~ Document executed by the borrower evidencing the debt owed to a lender. This document is recorded with the County Recorder’s Office and will be public record of the debt.
• Discount Points ~ Prepaid interest based on 1% of the loan amount for each point. Paying discount points will help lower the interest rate being negotiated.
• Earnest Money Deposit~ Money given by a buyer to a seller to bind the contract. This money is held by the Escrow Company and will be applied to down payment at the close of escrow.
• Escrow~ A third party intermediary who will hold and disburse funds in the transaction. The Escrow Company will assist in getting paperwork signed and arrange the recording of documents.
• FHA Loan ~ A mortgage loan insured by the Federal Housing Administration. FHA loans have their own underwriting guidelines that must be met, but may also be underwritten by an automated underwriting system.
• Fixed Rate Mortgage ~ A mortgage loan where the interest rate will remain consistent throughout the life of the loan.
• Impound Account ~ An account set up for the buyer by the lender to collect monthly payments that will cover property taxes and insurance. The lender will pay these installments when they come due.
• Jumbo Loan~ A mortgage loan that is higher than the conforming loan limits that are set by Fannie Mae and Freddie Mac
• Loan Origination Fee ~a percentage of the loan amount charged by the lender to originate the mortgage loan.
• Loan to Value (LTV) ~ Based on the appraised value of the home, the amount of money borrowed. Example: A loan with 20% down payment would equal an 80% Loan to Value ratio.
• Lock or Rate Lock ~ An opportunity to lock in a certain interest rate for a period of time. Usually between 12 and 45 days.
• Mortgage Insurance, PMI or MIP~ insurance to protect the lender in the event of default required on any loan with less than 20% down. Please see a more detailed explanation in my post on What is PMI
• Note~ A written promise to pay back money borrowed from the lender. This will include the terms of the loan, interest rate, payment dates, lender and borrower.
• PITI~ abbreviation for describing a total monthly mortgage payment that includes Principal, Interest, Taxes and Insurance.
• Prepayment Penalty~ A penalty charged by the lender for paying off or paying down a loan prior to a specified date. Not as common today as in the past. It is important to ask if your loan has a prepayment penalty.
• RESPA (Real Estate Settlement Procedures Act)~ The requirement for lenders to provide detailed information to the borrower in advance of what closing costs are to consist of.
• Title Insurance~ An insurance policy issued by a Title Company that may cover the lender and the buyer in the event of unfound claims against the property.
• Truth In Lending (Reg Z) ~ Federal law requiring the lender disclose the annual percentage rate (APR) to the buyer.
• Underwriting~ A decision made to lend or not to lend money based on information provided by the borrower regarding income, employment, assets and liability. The property will also be considered in the underwriting decision. Condition and loan to value will be evaluated.
• VA Loan~ A loan guaranteed by the Veterans Administration available to qualified veterans. May require no money down.
This is a short list of financing terms that will at least help you more fully understand the basics of the loan process and some of the forms that will accompany your process. Be sure to ask questions on anything you do not understand, continue to ask until you do. We are so used to talking to people in our industry on a daily basis that often times the terms and phrases that are used are just assumed to be known to the lay person. You should feel comfortable throughout the process you know what is going on.
For information on choosing a lender, please see my post on the Importance of a Good Lender. Happy House Hunting!
Making the Home of Your Dreams A Reality. As your Agent of Possibibility it is my intent to make your home buying or selling process a smooth one!
Please feel free to subscribe to my blog or contact me at 619-838-4408.
If you have purchased a home recently within San Diego County, you may have received a form from the Assessors Office for a Homeowner’s Property Tax Exemption. If you have not already done so, make sure 
you complete the form and send it back to the Assessor’s Office! I have also provided it for you here if you need it.
This Property Tax Exemption is for homeowners who occupy their property as their primary residence. At the time you purchased your home, the purchase price is considered to be the “assessed value” of the property. The Tax Collector uses this value to calculate what your taxes will be. When you file for the Homeowner’s Property Tax Exemption, the assessed value will be reduced by $7000 which will save you about $70 a year on your property taxes!
There is no fee to complete the paperwork, and once you have filed for the Property Tax Exemption, it will remain on the property as long as you own it and keep it as your primary residence.
This Property Tax Exemption is not available if the property is an investment property or if you claim a Disabled Veteran’s Exemption.
If you currently own a home and are not sure if you have filed for the Property Tax Exemption, take a look at your most recent property tax bill and it will tell you if it has been filed. If you have not filed, be sure to do so! $70 is $70! That would pay for 2 tanks of gas in my car! Every little bit helps these days!
If you have any questions or need assistance in completing the Property Tax Exemption form, I am available! I would love to hear from you!
Making the Home of Your Dreams A Reality. As your Agent of Possibibility it is my intent to make your home buying or selling process a smooth one!
Please feel free to subscribe to my blog or contact me at 619-838-4408.
Stephanie Reynolds 
Colleen Mitchell 