California Senate Bill 183 was signed into law which requires the installation of Carbon Monoxide detectors in rental units, and dwellings that are being transferred (sold) after July 1, 2011.

July 1, 2011, Carbon Monoxide detectors will be REQUIRED in houses that are being sold if they have any of the following:
  • Any gas appliances such as a gas stove, gas furnace, gas fireplace, gas water heater.
  • A fireplace
  • An attached garage (even if there are no gas appliances in the house!). Cars emit CO
  • ANY rental dwelling.
  • As of January 1, 2013, ALL houses that meet the criteria listed above will be required to have Carbon Monoxide detectors. Even those that are not being sold will be required to have them just like smoke detectors.

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I was talking to friend today and he was not sure if now was the time to buy.  He was certain prices were going to fall.  Now he may be correct, but we wanted to see if his waiting would really save him money. 

We did a hypothetical exercise; we compared 2 scenarios.

  ·         1st - Buying today at today’s current market price and interest rate

·           2nd - a future date where the speculative market prices had dipped an additional 10% and the interest rates had moved back up to the 6% range. 

Guess what we found out?  In this example his waiting would have cost him! I included the numbers below.                                    

1st  Purchase Price $540,000.00                           2nd Purchase Price $600,000.00    

Down…

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3 Bedroom, 2 Bathroom and Approx. 1,450 sq. ft.

Wonderful Single Level Residence.  Turnkey Interior. Quiet Cul-De-Sac Location. Property Backs to Open Space.  Nearby Hicking Trails. Spacious Back Yard. Numerous Enhancements... Flooring, Fresh Paint, Windows. Fireplace in Living Area. Interior Laundry. Finished Garage. Hilltop Views.

Video Tour: http://www.youtube.com/watch?v=HeFSW28r0gU

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836 Luminara Way, San Marcos, Ca  92078

http://www.youtube.com/lundteam#p/u/1/bv_V80OChEU video tour

Model quality home near $500k for almost 2,500 sq. ft.  Bank's ready to look at offers now that the first party feel out of escrow.  We have a handful of offers the first week on this one.  Please give us a ring to discuss 760.438.0800

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2841 Cottingham Street, Oceanside CA 92054

Just got the list price - $324,900 for almost 2200 sq. ft. Bank Owned!  Turnkey opportunity in Mesa Pines neighborhood of Oceanside. Fresh paint. New Carpet. New Appliances and More. Spacious rear Yard. Elevated lot with Views. Open Floorplan. Fireplace in Living Area. Community Pool.

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Just got this from our BofA lender...

BofA is buying the market on non conforming/jumbos...great news for us as we gear up for the reduction of high balance conforming loan limits in a few months.
 
30 Year fixed Purchase Loans 
Approximately:
4.5% Conforming: (loan amounts under $417,000) $253.34 per $50K (Calculate at $50,000 increments to figure P&I pymts on 30yr.)
4.625% High Balance Conforming (loan amounts between $417,000 and $697,500)  $257.07 per $50K
4.875% Jumbo (loan amounts over $697,500)  $264.60 per $50K
 
 
4.5% FHA/VA $253.34 per $50K
 
15 Year fixed
3.75% Conforming $363.61.98 per $50K
3.875% High Balance Conforming $366.72 per $50K
 
NON-OWNER OCCUPIED
1 Unit   4.625%
3-4 Unit 4.75%
Condo 5.0%

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