Click on the following link for the current issue of my newsletter, Cheryl Cline Properties…..real estate that moves you:

http://www.clientdirect.net/news/?Pub=37470

Sooner or later, the economy will rebound, jobs will return and new households will form.  When that time comes, however, there might not be enough housing to accommodate all the new family formations.

Click on the following link too read the full story from the Los Angeles Times:

http://www.latimes.com/business/realestate/la-fi-lew-20100613,0,7268736.story

Courtesy of the CALIFORNIA ASSOCIATION OF REALTORS®.

Click in the following link for the weekly primary mortgage market survey:

http://www.freddiemac.com/pmms/

Beginning June 1, 2101, lenders are very likely to run a second credit screening just prior to closing.  Lenders will now be checking to see if buyers have additional debt since the original credit was run to approve the loan.  So if you are in escrow, you may want to think twice before buying furniture, appliances, a car, or any other items on credit until after your loan is funded and escrow has closed.  Click on the following link to read the full story from the Los Angeles Times. 

http://www.latimes.com/business/la-fi-harney-20100516,0,594161.story

Click on the following link for the current issue of my newsletter, Cheryl Cline Properties…..real estate that moves you:

http://www.clientdirect.net/news/?Pub=37470

Click in the following link for the weekly primary mortgage market survey:

http://www.freddiemac.com/pmms/

In February at the 2010 Keller Williams Family Reunion in New Orleans, I had the privilege to listen to one of the best keynote addresses I have ever heard.  Author, speaker, and agent for social change, Kevin Carroll spoke eloquently about his red rubber ball.  I was so inspired by Kevin’s address that I would like to share it with you.  Are you are ready to be pumped up and motivated?  What is your red rubber ball?  Please click on the following link to hear the magic of Kevin Carroll part 1.  Parts 2-6 are on the following posts. 

http://kwconnect.kw.com/connect/user/share.jsp?p=3346&sh=9713

The California legislature on Monday passed AB 183, providing $200 million for home buyer tax credits. The Governor is expected to sign the bill into law this week. C.A.R. supported this important legislation since its inception.  Part of a package of four bills passed at the request of the Governor, AB 183 is designed to help stimulate the economy and create jobs.  It allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes.The eligible taxpayer who closes escrow on a qualified principal residence between May 1, 2010 and December, 31, 2010, or who closes escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit.

This credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under AB 183 purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state).

Reprinted with permission of the CALIFORNIA ASSOCIATION OF REALTORS®

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