Category: REAL ESTATE

Existing, single-family home sales totaled 406,920 in July, down 0.9 percent from June and down 3.4 percent from July 2017. July’s statewide median home price was $591,460, down 1.9 percent from June and up 7.6 percent from July 2017.  “While home sales continued to decline in recent months, the softening of the market is more… Continue reading CALIFORNIA’S HOUSING MARKET DOWN FOR THIRD STRAIGHT MONTH

A sting operation conducted by the Contractors State License Board on July 25-26, 2018,  resulted in 15 individuals being cited for alleged illegal contracting.  CSLB’s Statewide Investigative Fraud Team (SWIFT) compiled a list of suspected unlicensed contractors and invited them to place bids on home improvement projects for asingle-family home near the Corona Municipal Airport.… Continue reading UNLICENSED CONTRACTORS ARRESTED

Get the full name and contact information of the person or company you employ. Check the property manager’s Bureau of Real Estate license, which must be valid and active to collect rent and manage your property. (Note: Resident property managers don’t need a real estate license.) Ask the property manager for professional affiliations or certifications… Continue reading KEY POINTS TO CONSIDER IN HIRING A PROPERTY MANAGER

Protect yourself from loan modification or foreclosure rescue scams. Beware of loan modification and foreclosure rescue scams run by con artists who demand the payment of upfront fees. Loan modifications are situations in which you and your lender agree to modify one or more of the terms of your home loan. The terms could be… Continue reading BEWARE OF FRAUDULENT LOAN MODIFICATION SCHEMES

​• Ask for a Mortgage Loan Disclosure Statement and/or a loan estimate. These documents will tell you the cost and proposed terms of the loan.• If using the services of a mortgage broker, contact the California Department of Business Oversight at www.dbo.ca.gov or (866) 275-2677, and/or the Department of Real Estate at www.dre.ca.gov or (877)… Continue reading TIPS FOR BORROWERS WHEN APPLYING FOR A HOME LOAN

Here are examples of red flags during a real estate transaction. Be wary if you: • Are asked to pay cash. • Are asked to pay for something “on the side,” “outside of escrow,” or “after closing.” • Are asked to pay a real estate agent directly or are asked to pay upfront fees. • Are dealing with unlicensed… Continue reading RED FLAGS IN REAL ESTATE FRAUD