PROOF IS HERE! THE UPTURN IS COMING!

It's looking good peeps! The economy, especially the housing market is making its way back up the latter. Let's look at some geographical stats:

Northeast: The Pending Home Sales Index shot up 32.6 percent to 78.9 in April and is 0.8 percent above a year ago.
Midwest: The index rose 9.8 percent to 90.4 and is 11.1 percent above April 2008.
South: The index slipped 0.2 percent to 93 in April but is 3.5 percent higher than a year ago.
West: The index rose 1.8 percent to 94.8 but is 2.9 percent below April 2008.

According to our money guru Bernanke,

"We continue to expect economic activity to bottom out, then to turn up later this year. Key elements of this forecast are our assessments that the housing market is beginning to stabilize. Final demand should also be supported by fiscal and monetary stimulus."

In Cali, our economic epicenter, data suggests that housing prices nationally could start to rebound relatively soon. That data includes two consecutive monthly gains in the median price of existing homes. In April, single-family median home price rose 1.4 percent to $256,700 YEAH!!!

As I have mentioned before, KUDOS to all you investors out there, you are key to our UPTURN! Some investment companies like Discovery Enterprises are snapping up foreclosed properties at bargain basement prices. Then financing buyers with small down payments and less than perfect credit. Keep in mind that many of these properties are in need of work, so more jobs are created YIPPEE!!!

Comments, Suggestions, Questions?

CONTACT ME @
www.RealEstatewithRuben.com

SEE YOU AROUND THE NEIGHBORHOOD!

HURRY!!! Get $8000 TO BUY YOUR NEW HOME

YES, it's true first time buyers, as I have stressed before, WHAT ARE YOU WAITING FOR?Now that $8000 tax credit given to you by our Obama administration (The American Recovery and Reinvestment Act of 2009) can now be applied to your closing costs!

FHA approved lenders can now develop bridge loans under the guidance of the U.S. Department of Housing and Urban Development that first time homebuyers can use toward:

CLOSING COSTS

BUY DOWN INTEREST RATE

INCREASE DOWNPAYMENT

Keep in mind that you would still need to come up with the 3.5 percent down needed, however there are many sources out there to help you with that downpayment. Some states have developed their own tax credit bridge loan programs giving buyers the tax credit upfront to cover all or part of their downpayment.

Contact me for more info:

RealEstatewithRuben@gmail.com

SEE YOU AROUND THE NEIGHBORHOOD!!!

Renters, Know Your Rights!

I was awaken from a deep sleep a couple of nights ago from a VERY high strung individual, ok drama queen, BOY ABOUT TOWN, regarding his continuing rental nightmare and I know that many of you are experiencing similar issues, so I decided to give all you renters some tips and facts. First of all, before you decide to rent from anyone, DO SOME RESEARCH about the owner and management company. Ask current tenants, past tenants and neighbors about them and their experiences with them. It will definitely decrease the chances of being victim to unwanted rental problems caused by non-caring, unresponsive landlords (slumlords).

Before You Rent

If the property manager says the deposit will be returned whether you decide to rent the apartment or not, always get that verbal promise in writing.
Request a written lease that clearly states all the terms. Oral leases are subject to misunderstandings and are more difficult to enforce.

If there is no written lease, how your make your rental payment (weekly, monthly, etc.) determines the length of the agreement.

Before signing a rental agreement make sure you understand the terms of the contract. If you don't understand, don't sign the lease!

Before signing a rental agreement do a walk-through while listing any problems that should be fixed before you rent. Verbal promises made by the landlord should ALWAYS be included or attached as a written agreement to the lease and signed by the landlord.

A security deposit is one of the most common requirements of landlords. Include any and all problems or potential problems such as broken fixtures, worn rugs, ripped linoleum, broken tile, etc. in your walk-through list.

Know the difference between a security deposit and an , administrative fee or processing fee; usually only security deposits are refundable.

Your Landlord's Responsibilities

1. The roof must not leak.
2. The walls must be weather-tight and in good repair.
3. The stairs must be safe for normal use and maintained in good repair.
4. Windows and doors must be weather-tight, water-tight, rodent-proof and kept in sound working condition. Outside doors have to have proper locks.
5. Window panes cannot have cracks and holes. Outside windows must have screens.
6. Inside floors, walls, ceilings must be basically rodent-proof and kept in sound condition and good repair and should be safe.
7. The house or apartment must have hot water that is connected to the kitchen and bathroom sinks, tub or shower.
8. All houses or apartments must have a flushing toilet in good working condition.
9. When cooking and heating equipment are provided by the landlord, they must be safely installed and in good working order.
10. There must be adequate garbage disposal facilities or garbage storage containers.
11. Every habitable room must have at least two separate floor or wall electric outlets and, additionally, every kitchen, bedroom, bathroom and hallway must have a ceiling or wall-type fixture, or an outlet controlled by a wall switch near the entrance to the room.
12. All electrical systems must be in good repair and good working order.

Questions? Concerns?
RealEstatewithRuben@gmail.com
SEE YOU AROUND THE NEIGHBORHOOD!

Making Your Money Work for YOU!

Would you stash money away in your linen closet for a rainy day or would you put it in the bank to collect some interest? Obviously, you would want to keep that money where you can make money. Many of you out there are doing the opposite; how much equity are you sitting on? Why not make that money work for YOU! Times are tough, the market if down, but the price is RIGHT! Do what all the savvy investors are doing now, BUY BUY BUY! Your equity is doing nothing for you if it just sits there. I know it's scary, however as I've mentioned before TIME IS RUNNING OUT! There are fantastic deals out there that are manageable as well as gold mines in five years time. Real estate has NEVER let us down in the long term, no crystal ball needed. Yes, we have had a BIG downturn, but we can see the light at the end of the tunnel. Foreclosure properties are moving FAST, our Obama administration is giving you tax breaks and many of us are getting great loan modifications that make us able to keep our homes. We are even seeing price wars! Bids are coming into those great deals out there and when those start to escalate more and more prices, ALL PRICES, will start to ascend and we can all again sing HALLELUJAH!

Not convinced? Need some proof? Want to know where you stand? Contact me for the facts on how YOU too can be a savvy investor!

RealEstatewithRuben@gmail.com

SEE YOU AROUND THE NEIGHBORHOOD!

Beware!!! Foreclosure Fraud is on the rise!

WOW! It's amazing to me how scammers con people, especially when they are down on their luck. First we had those greedy mortgage brokers and lenders granting RIDICULOUS unaffordable loans to people with the promise of "The American Dream." Well millions of those dreams turned to nightmares when that balloon payment came due or that interest rate flew threw the roof. Now I am sad to report scams are on the rise disguised as a negotiator between homeowners and lenders. Heres how it works..

They place ads telling you they can get you a loan modification that will reduce your monthly payment and save you from foreclosure. They lay out a plan and assure you that everything is going to work out. They will do all the negotiating with the lender and you only have to pay 2/3 of your mortgage payment. Of course, the payment is made out to the program or the organization not the lender - RED FLAG! You see where this is going right? No negotiation was ever done, no payment ever went to the lender and BAM you're home is being foreclosed on.

DON"T BE A CASUALTY!

Contact me for a list of programs that are on the up & up!

Some won't cost you a dime!

RealEstatewithRuben@gmail.com

SEE YOU AROUND THE NEIGHBORHOOD!

Have to sell? Want top dollar? CURB APPEAL is your answer.

Remember the old cliche, "Never judge a book by it's cover?" well in today's market forget it!!! There is so much inventory out there, selling your home for top dollar is nearly impossible, or is it? THINK about what attracts, beauty, money and sex, so why not make money by making your home beautiful and sexy. Curb appeal is that answer... Here are ways to spruce up and attract those buyers to your sexy home, it's basic simple grooming:

• Stow away those unnecessary tools that are scattered around the house and yard.


• Clean windows and gutters


• Pressure wash dirty siding and decks


• Edge sidewalks and remove those wild unattractive growths (like moles with whiskers) between concrete blocks


• Mow the lawn and get rid of the weeds (think how you feel and look when you get a fab cut and color)


• Trim tree limbs that are near or touching the roof


• Replace old hardware


• Fresh paint

Need help? Contact me and let's together get those buyers knocking down the door to see what's inside.

RealEstatewithRuben@gmail.com

SEE YOU AROUND THE NEIGHBORHOOD!

WHAT ARE YOU WAITING FOR?

Since my last posting more good news has transpired, yes we are on the

ROAD TO RECOVERY!

Moody's Economy.com cheif economist guru, Mark Zandi, says these increasing home sales and gains in the stock market are promising signs that the worst is over! However he also warns that, "Confidence is a very fickle thing. It can go from abject pessimism that prevades now to a more balanced view now of the world rather quickly." (wow that's like quoting from a speedsheet)Some of the hardest hit markets, Florida's Gulf Coast, Cali's Inland Empire and Las Vegas, just to name a few, experienced an 80% jump in home sales. Experts say foreclosures, low interest rates and that $8000 Obama tax credit are helping first time buyers and investors.

So to all you first time buyers, LET'S GET GOING!!!

To all you homeowners sitting on that equity, MAKE YOUR MONEY WORK FOR YOU, become that investor that makes a mil

And to all you investors that are doing the do KUDOS!!!

See you around the neighborhood!
RealEstatewithRuben@gmail.com

6 Reason why YOU should buy NOW

Yes there is light at the end of the tunnel.

Properties are moving, the foreclosure inventory is decreasing and our new

Obama administration is lending a hand.

Here are six reasons why YOU should buy NOW!

1. Hail to our new Prez - First time buyers are entitled to a maximum $8000 tax credit, interest rates are at a record lows and our Federal Reserve is doing what it can to make those seemingly impossible loans possible.



2. Either by pro-creating or adopting like Madonna and Branjolina and by our VERY generous immigration/naturalization policies increasing our household count by 800,000 a year. WOW!
   



3. It's simple math, borrowers leverage their investment - If you put $10,000 into the stock market and it earns 10 percent, you’ve earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you’ve made $10,000.



4. Instant equity - With all the foreclosure movement driving prices down, when the market zooms back up as it always does, you will rapidly gain more and more equity.



5. Your mortgage costs WILL stay the same - As I suggest to ALL my clients FIXED RATE ONLY, your monthly payment stays the same while everything around us goes up, including rent.



6. It's my house and I live here - Diva Diana said it all it that phrase (oops I dated myself again) Oh well there is nothing more comforting than owning your own home. You can paint what you want, let you pooches run free in the yard and have that piece of mind that security brings.

...yet another reason to BUY NOW!

According to the National Association of Home Builders, buyers could be gearing up for a return to the market.

In a survey for Century 21 Real Estate last month among prospective first-time home buyers who indicated they were likely to purchase a home in the next two years, a majority – 78 percent – said that now is a good time to buy a home. Of those responding to the online poll, 68 percent said that now is a better time to buy than six months ago.

And its not just good news there. The new home market is seeing promising numbers as well. Single-family permits were up 11 percent in February.

"With affordability up dramatically, reports from our builders in the field indicate that foot traffic in new homes is on the rise and consumer interest is increasing with each passing day. These are encouraging signs that the housing market may be finally reaching a bottom," said NAHB Chairman Joe Robson.

So why wait, even if you think you don't qualify now, get a plan going so that you can qualify. Without the facts and a plan you may miss the opportunities that are waiting for you.

Contact me and let's get started today!

realestatewithruben@gmail.com

See you around the neighborhood!

Obama's Housing Plan - Q & A for Borrowers

compliments of :

David Pemberton

Stratis Financial Corp.

562-472-1120

www.loannotebook.com

Feb. 18 (Bloomberg) -- The following is a reformatted version of questions and answers on the Obama administration's housing plan released by the U.S. Treasury in Washington.

Q and A for Borrowers about the Homeowner Affordability and Stability Plan

Borrowers Who Are Current on Their Mortgage Are Asking:

1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?

Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.

2. I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.

3. How do I know if I am eligible?

Complete eligibility details will be announced on March 4th when the program starts. The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.

4. I have both a first and a second mortgage. Do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.

5. Will refinancing lower my payments?

The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable payments that are sustainable for the life of the loan. Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in their payments. Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate. These borrowers, however, could save a great deal over the life of the loan. When you submit a loan application, your lender will give you a "Good Faith Estimate" that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan. Compare this to your current loan terms. If it is not an improvement, a refinancing may not be right for you.

6. What are the interest rate and other terms of this refinance offer?

The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment. All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate. The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans will have no prepayment penalties or balloon notes.

7. Will refinancing reduce the amount that I owe on my loan?

No. The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans. Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe. However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.

8. How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?

To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.

9. When can I apply?

Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.

10. What should I do in the meantime?

You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:
· information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources
· Your most recent income tax return
· Information about any second mortgage on the house
· payments on each of your credit cards if you are carrying balances monthly
· payments on other loans such as student loans and car loans.

Borrowers Who Are at Risk of Foreclosure Are Asking:

1. What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?

The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current. By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.

2. Do I need to be behind on my mortgage payments to be eligible for a modification?

No. Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default. This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.

3. How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?

In general, you may qualify for a mortgage modification if

(a) You occupy your house as your primary residence;

(b) Your monthly mortgage payment is greater than 31% of your monthly gross income;

(c) your loan is not large enough to exceed current FNMA and FHLMC loan limits.

Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.

4. I do not live in the house that secures the mortgage I'd like to modify. Is this mortgage eligible for the Homeowner Affordability and Stability Plan?

No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible. If you used to live in the home but you moved out, the mortgage is not eligible. Only the mortgage on your primary residence is eligible. The mortgage lender will check to see if the dwelling is your primary residence.

5. I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?

Yes. Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.

6. I have two mortgages. Will the Homeowner Affordability and Stability Plan reduce the payments on both?

Only the first mortgage is eligible for a modification.

7. I owe more than my house is worth. Will the Homeowner Affordability and Stability Plan reduce what I owe?

The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford. Lenders are likely to lower payments mainly by reducing loan interest rates. However, the program offers incentives for principal reductions and at your lender's discretion - modifications may include upfront reductions of loan principal.

8. I heard the government was providing a financial incentive to borrowers. Is that true?

Yes. To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan. The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt. Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.

9. How much will a modification cost me?

There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan. If you wish to get assistance from a HUD-approved housing counseling agency or are referred to a counselor as a condition of the modification, you will not be charged a fee. Borrowers should beware of any organization that attempts to charge a fee for housing counseling or modification of a delinquent loan, especially if they require a fee in advance.

10. Is my lender required to modify my loan?

No. Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis. But the government is offering substantial incentives andit is expected that most major lenders will participate.

11. I'm already working with my lender / housing counselor on a loan workout. Can I still be considered for the Homeowner Affordability and Stability Plan?

Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.

12. How do I apply for a modification under the Homeowner Affordability and Stability Plan?

You may not need to do anything at this time. Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria. After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks. If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or a HUD-approved housing counselor. Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program. 13. What should I do in the meantime? You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:
· information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources
· Your most recent income tax return
· Information about any second mortgage on the house
· payments on each of your credit cards if you are carrying balances monthly
· payments on other loans such as student loans and car loans

14. My loan is scheduled for foreclosure soon. What should I do?

Contact your mortgage servicer or credit counselor. Many mortgage lenders have expressed their intention to postpone foreclosure sales on all mortgages that may qualify for the modification in order to allow sufficient time to evaluate the borrower's eligibility. We all support this effort.

Thanks David! Great information everyone, PLEASE take it to heart it just may save you money and/or your home.

Please contact me with any questions 562-331-7396 or ruben@rubengonzalezjr.com

See you around the neighborhood!

A PEEK at our new hometown, GULFPORT, FL