Posts Tagged ‘California’

2010 Census: More than Just Counting People

By Cindy O'Leary | February 15th, 2010 0 Comments

2010 Census Details:
The objective of the 2010 Census is to count all residents living in the United States on April 1, 2010. Census forms will be mailed in March and are scheduled to arrive in mailboxes between March 15-17th. Residents are asked to answer ten questions (one of the shortest in history) and return the form by April 1, 2010. Responses to the Census questionnaire are required by law.

Besides counting all residents, the 2010 Census population totals also determine which states gain or lose representation in Congress and how more than $400 billion of federal funding is spent each year on infrastructure and services like hospitals, job training centers, schools, senior centers, public works projects, and emergency services. How California will be affected by the 2010 Census will surely be an anticipated result of this survey.

All responses are confidential, by law, and cannot be shared with any other government agency such as the FBI, the IRS, welfare and immigration.

History:
The first census was taken in 1790 to determine the number of seats for each state in the House of Representatives. This census also provided a better understanding of where people lived and helped to establish settlement patterns as the nation grew. In 1902 the Census Bureau was established. Besides gathering population data every 10 years which is constitutionally mandated, the Census Bureau administers more than 200 surveys annually including the Current Population Survey and economic censuses every five years.

For more information on the 2010 Census, log onto www.2010census.gov.

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Are Greener Homes a Passing Fad or Here to Stay?

By Tadas Narauskas | February 12th, 2010 0 Comments

solar home

Whether one takes climate change seriously or not, one truth stands tall for any home buyer – energy efficiency, resource conservation and healthy indoor air is becoming a must.  But with the economy still unraveling and the cloud of uncertainty hanging over our heads, a question looms… Can green homes gain traction in our fragile housing  market?

As you may be aware, Santa Clara County real estate market has been quite unpredictable.  It went from four months of inventory into less than one month of inventory in one year and no one really knows what the future holds.  Even some of the biggest market experts have been embarrassed and increasingly keep their Nostradamus like market predictions to themselves.

At the same time, for the past few years, we may have noticed a quiet revolution taking place in our hearts.  Not only we are craving to live happier, healthier and more empowered lives, we are seeking friends and atmosphere that will support that earning.  Also, with raising energy costs and ever growing health problems, many of us are looking for answers right where we sleep – our homes.

So what has kept more people from seeking out these energy efficient and often healthier homes?  Mainly – the lack of awareness and price.  We’ve been conditioned to think that everything green and organic come with an extra big price tag, and with a good reason!  However, when it comes to homes it’s not always true.

Some new home builders who have built green home developments in San Jose claim that their homes are not more expensive than their non-green certified competition. The reason being is that builders are able to buy renewable energy systems like solar panels at bulk prices and receive incentives from PG&E and the state.  In fact, smart builders can use fewer resources to build homes and save money on materials.  This effectively helps developers pass the savings to the consumer.

Now if an older home has undergone a deep retrofit and was upgraded with energy saving systems like solar panels or solar water heater, it may indeed cost a bit more than regular homes.  One must keep in mind though that here we must look at price vs. cost of ownership analysis.  What do I mean?  Well, imagine your home had a mortgage that is $100 higher than your neighbor’s but you were saving $150 in utility bills, would that be such a terrible predicament to be in?

One may say… but wait, some folks really go all out with their upgrades and “eco-chic” elements that they will never re-coup the costs.  It’s true, but it’s also true with high end upgrades that have nothing to do with energy efficiency or sustainability.

As for the future of our real estate market and green homes, my crystal ball has nothing but beautiful images.  Why?  Because energy conserving homes not only produce less pollution but also because owning one will absolutely, most definitely make perfect financial sense.

Think about it, if you had a choice whether to buy a home that is more energy efficient, healthier for your kids, and conserves resources or a home that was built to minimum standards that had high utility bills, which would you choose?  You see, once we are increasingly presented with this choice in the future, the decision will be as easy as popping a soap bubble.

Personally, I am thrilled to see more and more people considering the impact their homes have on the environment.  In addition, something very profound is taking place during this economic turmoil – we’re shaping to be smarter consumers.  We’re growing in wisdom that we must consider the true cost of owning “stuff”.  This is why greener homes will set new standards of quality and resource management in the very near future.

More on Green Homes:  http://SanJoseGreenHome.com

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The Intero Insider: California Cracks Down on Mortgage Malfeasance

By Gino Blefari | October 21st, 2009 0 Comments

A little over a week ago, Governor Schwarzenegger signed several bills into law that are designed to protect homeowners and to get tough on abusive lending practices.

The new legislation is designed to bolster California’s reverse mortgage laws, giving seniors greater protections when considering such financing options, making it a felony to commit fraud in conjunction with any mortgage application, as well as to promote forthrightness, responsibility and accountability in the real estate market.

“Fraudulent mortgage practices have become more prevalent as a result of the national foreclosure crisis that negatively impacted California’s housing market and economy,” said Governor Schwarzenegger. “This legislation helps crack down on abusive lending practices by giving law enforcement the tools to effectively investigate mortgage fraud crimes and provides Californians with greater consumer protections to promote homeownership in a safe and accountable environment.”

Specifically, the bills signed into law on October 11, 2009 are:

  • AB260, by Assemblyman Ted Lieu, D-Torrance, will enact the Higher-Priced Mortgage Loan Law, which would codify a fiduciary duty for mortgage brokers, authorize California’s mortgage regulators to apply specified federal mortgage lending laws and regulations to their licensees and cap prepayment penalties and yield spread premiums on higher-priced loans
  • SB36, by Sen. Ron Calderon, D-Montebello, which will establish licensing requirements for all individual loan originators who offer or negotiate residential mortgages.
  • SB239, by Sen. Fran Pavley, D-Santa Monica, which makes it a felony to commit fraud in connection with a mortgage application. This bill makes individuals who engage in mortgage fraud guilty of a public offense punishable by imprisonment in the state prison or in a county jail for up to one year. The bill also provides law enforcement with the necessary tools to make it easier to obtain a search warrant to real estate records and documents believed to contain evidence of mortgage fraud.
  • AB329, by Assemblyman Mike Feuer, D-Los Angeles, which establishes the Reverse Mortgage Elder Protection Act of 2009 to provide senior homeowners with greater consumer protections to ensure that they are fully informed about the consequences of entering into a reverse mortgage agreement. Specifically, the bill requires lenders to provide prospective borrowers with a clear and informative written disclosure statement and a written checklist pertaining to the risks and suitability of a reverse mortgage, prior to the borrowers attending loan counseling.
  • SB237, by Sen. Ron Calderon, D-Montebello, which creates a registration program for appraisal management companies and prohibits any person or entity from acting in the capacity of an appraisal management company without first obtaining a certificate for registration from the Office of Real Estate Appraisers.
  • AB957, by Assemblywoman Cathleen Galgiani, D-Livingston, which mandates that buyers of foreclosed homes would have the choice of using a local escrow office to handle the transaction. It also prohibits a seller of residential property from requiring the buyer to use an escrow company or purchase title insurance chosen by the seller and would also prohibit a seller or residential property from, without good cause, disapproving the use of a title or escrow company chosen by the buyer.
  • AB1160, by Assemblyman Paul Fong, D-Cupertino, which requires mortgage loan documents to be translated into the language in which the verbal negotiations were conducted. Mortgage documents would be translated into Spanish, Chinese, Tagalong, Korean and Vietnamese languages.

What all of this means for buyers — and sellers, for that matter — of real property in California is that while there are now more protections than ever, constant vigilance is always in order. No matter what sort of pressure you might feel, take all the time you need to understand what you’re signing. Cross every t, dot every i. You have lots of rights and protections, but they won’t necessarily help you if you aren’t aware of them.

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