Top 5: Tips for Rebuilding Your Credit After Foreclosure

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Tips for Rebuilding Your Credit After Foreclosure

Many people have weathered through some tough times over the past few years. But now, as things begin to look a little brighter, it's time to consider starting over the right way and with a plan.

As a member of the Top 5 in Real Estate Network®, I am well versed in credit and lending issues and can offer some great tips and information on taking the steps to once again qualify for a mortgage.

Here are some tips for getting your credit back on track:

Pay your bills on time: The FICO score, the dominant credit score used by lenders, gives the greatest weight to payment history, so make sure you consistently pay your bills on time.

Review your credit report: You're entitled to a free credit report once every 12 months from each of the three national credit bureaus -- Experian, TransUnion and Equifax. You should get a copy and check it for any inaccuracies. To get your free credit report, go to http://www.annualcreditreport.com.

Check your mortgage: You want to be sure that you don't still owe anything on your old mortgage. Sometimes proceeds from a foreclosure sale aren't enough to cover what's owed on the mortgage, which would leave you owing the difference.

Apply for credit: In particular, apply for different varieties of credit. Credit-scoring models value having different types of credit, so apply for everything from a credit card to a car loan but don't apply for too much credit at one time. Too many inquiries on your credit report will look poor.

Don't fall prey: Watch out for credit repair companies that promise to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job -- after paying a fee for the service. "The truth is, that no one can remove accurate, negative information from your credit report," according to the Federal Trade Commission. "It’s illegal." Only the passage of time can assure that negative, but accurate, information on your credit report will be removed.

Unfortunately, there are no quick credit fixes; however, with a little education and patience, you can begin to walk the road back to homeownership. If you would like more information on this topic, please contact me. Also, please pass this information along to anyone you feel may benefit from it.

Sincerely,

Barbara Corsi
J. Rockcliff Realtors
Office: 925-253-7045
Mobile: 925-788-7589
BCorsi@Rockcliff.com
http://www.BarbaraCorsi.com

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The Corsi Report

The Corsi Report

FEBRUARY 2011 MARKET UPDATE Hi All My Friends, There's something in the air. Have you noticed it? Downtown is busier, restaurants are crowded and retail sales are up. The same is true in the real estate market. Pending home sales improved in December, marking the fifth gain in the past six months. New home sales are up 17.5 % nationwide according to the Department of Housing and Urban Development. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), credits this upswing to affordability, favorable mortgage rates and an improving economy. Yun predicts, "The positive trend is likely to continue in 2011. Current activity suggests a sustainable, healthy volume of a mid-5 million in total home sales for this year." The California Association of Realtors reports that sales in December posted a seven-month sales high. Closed escrow sales of existing single-family homes in California totaled a seasonally adjusted annualized rate of 520,680. The statewide median price increased 10.2 percent to reach $302,900 for the year. Our local market is reflecting this upswing. In my J. Rockcliff/Orinda Office numbers for the month were up over last January! Our average List Price of a home went up 17% from $623,870 to $731,779. Number of listings taken went up 5%. Our average Pending sales price went up 14.4% from $517,192 to $591,496 and our average closed Sales Price went up 5.7% from $528,893 to $558,950. Inflation is a concern that drives some to buy now. By the end of February, more homes will come on the market. The spring season of March, April and May are traditionally very active. Now may be the time to evaluate your options and capitalize on the spring market.   BARBARA'S CURRENT MARKET ACTIVITY Featured Listings: JUST LISTED, 1524 Las Trampas Road, Alamo, CA 94507 -  $850,000 Updated rancher on flat lot provides privacy along mature trees & natural setting yet steps to downtown Alamo & Iron Horse Trail. Premium neighborhood. One of a kind w/ hardwood floors, updated kitchen & baths, vaulted ceilings, walk-in closet & fireplace in master. Hot tub. Open Sunday. PENDING, 452 Tahos Road, Orinda, CA 94563 -  $999,888 On over a acre in desirable area, this charming Mediterranean/Ranch boasts updated chef's kitchen, hardwood floors, dual pane windows. Large flat patio and pool with slide and special view over the valley and beyond to Mt. Diablo. Perfect for indoor/outdoor entertaining. Seperate Kid's wing with their own playroom. Circular driveway. PENDING, 2027 Ellington Terrace, Pleasant Hill, CA 94523 -  $380,000 Beautiful setting. Move in condition. Updated including recessed lighting, dual pane windows, flooring, paint & crown moulding. Dining room, breakfast bar, pantry, & good size kitchen make eating a delight. Vaulted ceiling, recessed lighting & classy fireplace makes relaxing easy. JUST ASK Q: What are the new trends in remodeling? A: Since December, there has been an upswing in remodeling nationwide according to the National Association of the Remodeling Industry (NARI). The cost of a remodel is running about 10 to 15% less than two years ago. In general, NARI reports that the project size is smaller. Instead of expanding your home, consider borrowing space from oversized rooms. Instead of building a wine room, install a wine storage appliance. Instead of creating a separate home theater in the basement, avoid the cost of expensive electronics and make a multipurpose room. I wonder whether the phase of bigger homes, bigger basements and bigger toys is ending or just slowing. Many clients say that they do not use those extra rooms. Let me know what you think.   MY TOWN The National Restaurant Association's What's Hot in 2011 survey of more than 1,500 professional chefs revealed that local sourcing, healthy children's meals, sustainable seafood, and gluten-free cuisine will be among the hottest trends on restaurant menus in 2011. 30% of those surveyed said that pop-up restaurants will be the hottest trend in 2011. Pop-up restaurants have been gaining notoriety in the world of "foodies" and mainstream America is starting to take notice. Rather than taking on the burden of a long term lease, a pop-up restaurant allows established, known chefs to temporarily rent space in a bakery or small restaurant and offer meals only at certain times. Bakeries and delis by day are transformed into high-end restaurants by night. Ludo Levebre, one of the founders of this movement, earned Mobile Travel Guide Five Star awards at two of Los Angeles' most prestigious restaurants before opting for freedom. Chef Levebre's website compares his traveling restaurant, LudoBites, to a band: "Like a club band we have been touring locally…and playing different parts of Los Angeles." Go online to find a pop-up restaurant near you. Search for: "pop up restaurants in (your city here) 2011," and peruse the options. Let me know if you try out one of the hottest food trends of 2011.   FYI Got any home improvement plans lined up for the New Year? The following online programs are free and offer a great way to design your home projects before you start: Autodesk Homestyler is created by the same company that makes AutoCAD architectural software. This robust, easy-to-use application lets you arrange and design your project by simply dragging and dropping elements such as windows and doors, furniture and appliances. Google Sketchup is a sophisticated software application that lets you build 3D models of your home. Online video tutorials will help you get started. Users can upload their creations to a shared database where you can peruse others' works for inspiration. Ikea Planner lets you build a room and furnish it with Ikea products. For minor upgrades such as new flooring and paint colors, try these online resources. With Colorjive you can upload a photo of the room you want and try on new color schemes. Adjust lighting conditions then process your image to obtain the color index numbers for Sherman Williams and Benjamin Moore paints. Daltile's website lets you design your own project, select and arrange coordinating tiles, and tally up the final price of your project. Armstrong Flooring displays stock photos demonstrating a number of flooring options from laminates to hardwood. If you want more resources for remodeling, just give me a call.

Contact Info: Barbara Corsi DRE #01368803 J. Rockcliff Realtors GRI, SRES, Top 5 in Real Estate Follow me @ orindarealestate.blogspot.com Orinda, CA 94563 M: 925.788.7589 bcorsi@rockcliff.com www.BarbaraCorsi.com Forward to a friend: Know someone who might enjoy my eNews? Please click here!

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Top 5: 9 Tips for Hiring a Heating and Cooling Contractor

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9 Tips for Hiring a Heating and Cooling Contractor

When your heating and/or cooling system breaks down, it can be an overwhelming experience to find a contractor if you don't have someone you already trust. You need to find someone quickly but don't want to make the wrong choice.

As a member of the Top 5 in Real Estate Network®, I have access to tips and information that can help you find a contractor you are comfortable with. If you find yourself in this unfortunate situation, be prepared by following these tips from EnergyStar.gov:

Study up - Find out about license and insurance requirements for contractors in your state. And before you call a contractor, know the model of your current system and its maintenance history. Also, make note of any uncomfortable rooms. This will help potential contractors better understand your heating needs.

Ask for referrals - Ask friends, neighbors, and co-workers for contractor referrals. You can also contact local trade organizations for names of members in your area.

Call references - Ask contractors for customer references and call them. Ask about the contractor's installation or service performance, and if the job was completed on time and within budget.

Find special offers - A heating and cooling system is one of the largest purchases you'll make as a homeowner. Keep your costs down by checking around for available rebates on energy-efficient ENERGY STAR-qualified heating and cooling equipment. Begin your search at www.energystar.gov.

Look for ENERGY STAR - ENERGY STAR-qualified products meet strict energy efficiency guidelines set by the U.S. Environmental Protection Agency and offer significant long-term energy savings. Contractors should be able to show you calculations of savings for ENERGY STAR heating and cooling equipment.

Expect a home evaluation - The contractor should spend significant time inspecting your current system and home to assess your needs. A bigger system isn't always better; a contractor should size the heating and cooling system based on the size of your house, level of insulation, and windows. A good contractor will inspect your duct system (if applicable) for air leaks and insulation and measure airflow to make sure it meets manufacturers' specifications.

Get written, itemized estimates - When comparing contractors' proposals (bids), be sure to compare cost, energy efficiency and warranties. A low price may not be the best deal if it's not the most efficient because your energy costs will be higher.

Get it in ink - Sign a written proposal with a contractor before work gets started. It'll protect you by specifying project costs, model numbers, job schedule and warranty information.

Pass it on - Tell friends and family about ENERGY STAR. Almost one-quarter of households knowingly purchased at least one qualified product last year, and 71% of those consumers say they would recommend ENERGY STAR to a friend. Spread the word, and we can all make a big difference.

Following these tips should make your experience a little less stressful. For more tips and information on this topic and others, please contact me, and please forward these helpful tips to others who may be interested.

Sincerely,

Barbara Corsi
J. Rockcliff Realtors
Office: 925-253-7045
Mobile: 925-788-7589
BCorsi@Rockcliff.com
http://www.BarbaraCorsi.com

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Top 5: Freshen Up Your Home This Winter with 3 Simple Projects

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Freshen Up Your Home This Winter with 3 Simple Projects

It's easy to understand why the harshness of winter can slow you down. From the inclement weather to the treacherous roads, winter's mighty bite is fierce. While we cannot predict or control the weather outside, we can make the most of what we do inside, starting with some simple home organization projects.

As a member of the Top 5 in Real Estate Network®, I have access to many great ideas that you can use to spruce up the inside of your home until you can get outside again. Here are a few ideas from divatoolbox.com to update your space without taking the time or spending the money on a major renovation project.

Get organized: A simple task that homeowners can take on in the winter while spending more time indoors is to get organized. While organizing an entire home can be a time-consuming project, picking just one area to focus on will make the job more manageable. Winter is a great time to organize your home so that you are ready to start fresh once spring arrives. Not only will you feel as if you have accomplished something on your to-do list, but your home will seem less chaotic once everything is put in its place.

A little redecorating: Another way to freshen up your home during the long winter months is to update your décor. Simply changing the decorative accents within your home can make a big difference in changing your home's look and feel. Decide how drastic a change you want to make before you begin purchasing items.

Make a plan: If you aren't ready to make the commitment to organize or update your existing space, you can still use the remaining winter months productively by planning ahead for any home improvements you are going to undertake once spring arrives. Take the time now to research any projects you are planning on starting in the spring; plan your budget and even get a head start on picking out and ordering any materials that will be needed. By doing this, you will be ready to hit the ground running once spring arrives.

There are so many ways you can be productive inside your home and stay motivated through the winter season. If you're looking for more great, yet simple, ideas, please e-mail me, and please forward these helpful tips to others who may be interested.

Sincerely,

Barbara Corsi
J. Rockcliff Realtors
Office: 925-253-7045
Mobile: 925-788-7589
BCorsi@Rockcliff.com
http://www.BarbaraCorsi.com

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Economic and Housing Outlooks Brighten, Reports Analysis Group

Hello, Valued Member! Top 5 in Real Estate Network® Members are dedicated to providing you with the most up-to-date, helpful real estate information. This monthly newsletter, "Real Estate Matters," offers articles on a range of topics that will inform you in your real estate pursuits. Having trouble seeing this email? Click to view it as a web page. Add newsletter@rismedia.com to your address book to ensure email delivery. Buying Selling Owning Financing Home Improvement My Website My Listings Barbara Corsi GRI, SRES Realtor J. Rockcliff Realtors My Website Member, Top 5 in Real Estate Phone: 925-253-7045 Cell: 925-788-7589 Fax: 925-402-8022 Email Me This month’s newsletter offers analytical insight into the state of our economy and housing industry as we emerge from recession. The good news is things are looking up. Real Estate Matters also offers some timely tax tips and some helpful insights into protecting your home from Radon and more. Top 5 Members are uniquely qualified to not only help you get educated on these matters, but make them as effortless as possible. Only Top 5 Members can provide you with the kind of exclusive information found here in Real Estate Matters - a monthly look at what's really happening in the housing market. It's a privilege to provide you with this important information. Enjoy this monthly e-newsletter, and as always, your feedback is welcomed - call or email any time! This Month's Top Story Economic and Housing Outlooks Brighten, According to Fannie Mae Analysis Group RISMEDIA, February 8, 2011—Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move through 2011, according to the December 2010 Economic Outlook released recently by Fannie Mae’s (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group. Downside risks still exist, however, including a weaker-than-expected employment report, the ongoing economic turmoil in Europe, and potential inflation problems in China. More Top Stories Congress Extends Tax Cuts RISMEDIA, February 8, 2011—Just prior to its December adjournment, a lame duck session of Congress broke a deadlock over whether or not to extend expiring tax provisions. The legislation passed by a surprisingly large bipartisan margin in both the House and Senate. The $858 billion bill extends Bush era individual income tax rate cuts for all taxpayers for another two years, provides workers a new payroll tax break, and wealthy heirs a lower estate-tax rate. Individual taxpayers were the biggest beneficiaries, and their tax cuts account for about $700 billion of the bill's total cost. Tax Time: 11 Tips to Save Taxpayers Time and Money RISMEDIA, February 8, 2011—Late passage of tax legislation and delayed processing of some tax forms may make taxpayers wonder how this tax season will differ from last season. As the IRS has been prepared to accept e-filed returns since Jan. 14, H&R Block is taking the guesswork out of tax season by offering taxpayers 11 tips to help them navigate tax season 2011: Instant Clutter Busters - Easy Tricks and Tools to Neaten Up Closets, Drawers and Shelves RISMEDIA, February 8, 2011—Organizing is one of those big, dreaded jobs that's easy to keep putting off—but it doesn't have to be daunting if you start small. The March 2011 issue of ShopSmart magazine, from the publisher of Consumer Reports, features a guide to the top smart mini-projects designed to give readers a jump start on organizing their homes. Radon Basics: What Homeowners Need to Know RISMEDIA, February 8, 2011—Every year about this time, I launch into Radon Awareness mode. With National Radon Awareness Month just in focus, consumers, renters, homeowners, and those who hope to be in 2011 need to know a few things about this colorless, odorless health threat to you and your family. Have You Heard About The Top 5 Real Estate Social Networking SystemSM? Sign up to receive my free, weekly e-Articles - brief, compelling, home-related informational articles that you or your family and friends will find helpful in pursuing your real estate goals! Here are some article samples recently sent out to my Real Estate Social Network: Top 5 Strategies for Buying a Luxury Property Five Financial Strategies for After Escrow Closes How to Make Real Connections with Buyers During an Open House How to Secure a Sizable Down Payment Email me for more information. * This monthly newsletter is brought to you by your Top 5 in Real Estate Network® Member Agent and is intended as educational information only. RISMedia's Top 5 Real Estate Network® is a network created by, for, and of "leading real estate professionals" who are dedicated to providing "leading real estate information to consumers." The RISMedia Top 5 in Real Estate Network is backed by the commitment and resources of RISMedia. Top 5 was created to fill a profound void in how high-impact consumer relevant information was presented by leading real estate industry members to increasingly sophisticated, discerning, and demanding consumers, in order to both sustain and elevate the ongoing viability and appeal of the industry's leading professionals. For more information, visit www.top5inrealestate.com RISMedia, publisher of Real Estate magazine, is dedicated to providing real estate professionals with the most up-to-date news, information and business development resources in the industry. To submit questions, comments, suggestion, press releases or story ideas, please e-mail realestatemagazinefeedback@rismedia.com. RISMedia, Inc./Top 5 in Real Estate Network® 69 East Avenue, Norwalk, Connecticut 06851 P (203) 855-1234 F(203) 852-7208 www.top5inrealestate.com © 2010. RISMedia, Inc. All Rights Reserved. This email is intended for: bcorsi3.lizzie17@blogger.com. If you wish to edit your subscription or unsubscribe from Real Estate Matters, please click here.

Top 5:

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Top 5 Strategies for Buying a Luxury Property

While the media devotes a lot of space and time to highlighting the negative aspects of today's real estate market, there are actually many unique opportunities that exist for savvy buyers. For example, this may be your once-in-a-lifetime chance to purchase a luxury property that was formerly out of reach due to the escalated prices of the real estate boom. In today's market, however, such homes might suddenly be within your price range.

Be advised that buying a high-end property requires a different approach, though. As a Member of the Top 5 in Real Estate Network®, I am well versed on the important nuances of luxury home buying. Here are five important tactics to keep in mind when navigating the luxury market:

1. Typical search avenues don't always work. Many high-end properties can't be found through the usual routes -- i.e., national listing portal sites or homes-for-sale publications. Luxury properties often won't have a yard sign either. Make sure you're working with a real estate professional who is well-networked with other real estate professionals because many of the best luxury listings are found by word-of-mouth.
2. Carefully assess the neighborhood. Many of today's high-end properties are the result of over-zealous building in the boom years. We've all seen them -- those "McMansions" that tower over the other homes on the street. Make sure the property you are considering is in sync with other home values in the neighborhood and can maintain its resale value.
3. Check with zoning. When buying a luxury property, your surroundings are usually as important as the home itself. Make sure you're not in danger of another property or commercial building being built too close to yours.
4. Visit more homes in person. While it's usually easy to filter out homes you're not interested in online, when it comes to most luxury properties, photos don't always provide an accurate rendering of the homes. The sheer size and level of detail often involved in such homes can be hard to capture in photos, so make sure to see them live before ruling them out.
5. Assess your finances properly. Enlist the professional help of your real estate agent as well as your accountant and/or financial advisor before committing to a luxury home purchase. You will need foolproof documentation of your financial capabilities to secure a mortgage for a high-end property in today's environment. Also take into consideration the costs involved in owning such a home, from landscaping to heating and cooling. Make sure you have a clear picture of the ongoing financial commitment before jumping in.

I have seen so many clients take advantage of today's favorable buying conditions, no matter what type of home they're interested in. Contact me for more information on what's available in our area, and please forward these helpful tips to others who may be interested.

Sincerely,

Barbara Corsi
J. Rockcliff Realtors
Office: 925-253-7045
Mobile: 925-788-7589
BCorsi@Rockcliff.com
http://www.BarbaraCorsi.com

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