Healthy Fast Food Opens in SLO

Healthy Fast Food, Inc.,continuing its expansion efforts of EVOS© Feel Great Fast Food™, announced today the opening of the newest location of EVOS, USA in Healthy Fast Food’s 12-state territory. California Healthy Partners, LLP., an EVOS USA franchisee, opened its first EVOS location in California. The store is located in San Luis Obispo, at 3973 South Higuera Street (next to Trader Joe’s).

Read the entire press release here

3 Bedroom Home Close to the Beach

Here’s an opportunity….

A three bedroom home with 1800 square feet located a few blocks from the beach for $395,000!

If the owner doesn’t have the home in escrow by December 1st, they are going to lease it instead. If you’re looking for a vacation home or just want to move closer to the ocean, check it out.

Info, photos, and interactive floor plan here – www.1460railroad.com

Summer in November

My wife and I went to the Cal Poly football game today. Wow, what a great day to go to a game! Weather couldn’t be better and we got to see Ramses Barton pass Jerry Rice’s previous college record of consecutive games with a TD catch.

Although…I’m not sure why they needed a ref to keep the boys behind the gate!

New and Revised Contracts and Forms

One of the benefits of using a Realtor is that the Realtor has access to contract forms provided by the California Association of Realtors. In the old days, the forms were printed and updated every few years but Realtors that had purchased a bunch would continue to use the old forms. Today, all the forms are available on the Internet and updated on a regular basis (and new forms added). If a Realtor isn’t Internet-savvy, they may not be using the most current forms!

For example, here are some changes that happened this month:

Buyer’s Inspection Elections –
This form is used by a buyer to identify which specific inspections or reports the buyer wants to order. It is to be kept by the buyer’s agent and does not need to be given to the seller or listing agent. The form may be used more than once in a transaction if buyer decides to order some items at one time and others later.

Septic Inspection, Well Inspection, Property Monument and Allocation of Cost Addendum -
This addendum to a purchase agreement identifies what is going to be ordered and who is going to pay for items related to septic systems, wells and property boundaries.

Contingency for Sale or Purchase of Other Property-
Paragraph A6 has been modified to clarify that seller should only accept back-up offers after a primary contract has been entered into and to distinguish when the seller can ask the primary buyer to remove the contingency for the sale of the primary buyer’s home.

Market Conditions Advisory-
Language was added to paragraph A informing the buyer that a real estate agent cannot predict with specificity the affect of distressed property sales on values of homes in the neighborhood.

Market Snapshot Reports

If you’re looking for real estate information and have missed the Market Snapshot link, I’d highly recommend you take a look at a report. We’ve sent out almost 1600 reports since we got this service back in May. It takes up-to-the-minute info from the MLS which includes active and sold listings.

Check it out! You can run as many reports as you want.

http://www.slocountyhomes.com/market_snapshot.htm

Attention Blackberry Users

Verizon sent out a message yesterday about a major software update for the Blackberry. I updated last night and had problems today with sending email.

After a long phone call with Verizon/Blackberry, my problem was resolved. Turns out, you need to go into Email Settings and click “service books” and have them resent to your Blackberry.

Hope this helps any of you running into similar problems.

All Cash Buyer

We have a Buyer that is looking for a single level, newer home (1995+), light and bright in SLO, Los Osos or Arroyo Grande, up to $700K. The Buyer can give an all-cash, no contingency offer. If you have a home that meets this criteria and thinking about selling, contact me! The Buyer wants to find a home ASAP.

2009 Conforming Loan Limits

The 2009 Confirming Loan Limits for the Central Coast will remain the same as they are now:

San Luis Obispo-Paso Robles (Metropolitan Area):

Limit 1-Unit: $561,200
Limit 2-Unit: $718,450
Limit 3-Unit: $868,400

Santa Barbara- Santa Maria- Goleta (Metropolitan Area):

Limit 1-Unit: $603,750
Limit 2-Unit: $772,900
Limit 3-Unit: $934,250

What’s Going on with the Neverland Ranch?

Here’s an article from TMZ that talks about the change of ownership on Monday of Michael Jackson’s Neverland ranch. They say it will be renamed “Sycamore Valley Ranch” which, according to one of the comments under the article, was the name before Jackson changed it.

Ryan Baker’s Mortgage Blog

As you have probably heard there are plans for another “bailout” for troubled mortgages. The help is for loans made by Fannie Mae and Freddie Mac, and to summarize the details borrowers must be at least 90 days behind to enter a streamlined modification program. Their payments would be adjusted through lower interest rates or longer repayment terms that would total no more than 38% of their monthly household income. A good article (click here), from CNN.com explains the pros and cons to the plan. One thing in the article that sticks out to me is that while the big two companies own or guarantee 58% of all mortgages on single-family homes, these loans represent only 20% of serious delinquencies. This obviously isn’t going to be the cure, but another step forward.

I don’t think I have gone over rates in a while either. As always, they’re changing week to week and right now both the 5 year ARM and 30 year fixed are around 6.25%, with the 15 year just under 6%.

For all those football fans out there, this Saturday is the last regular season home game for Cal Poly. If you’re like me and haven’t had time to catch a game yet, now is your last chance.

If you have any mortgage related questions you can reach me at RBaker@PeregrineLending.com.