REMINDER!
There will be a BLOOD DRIVE in the parking lot of our Campbell Keller Williams Office
(2110 S. Bascom Ave)
Oct. 27th from 9am to 1pm
Women are asked to please increase their iron intake
as many blood samples were thrown out in recent years due to the low levels of iron.
p.s. Cream of Wheat is a great source of iron!
Have A Great Day!!
HOW TO READ AND UNDERSTAND LEGAL DOCUMENTS
IN YOUR PRELIMINARY TITLE REPORT
DATE: Thursday Oct. 15th
TIME: 1st class 1pm-2pm
2nd class 3pm-4pm
LOCATION: SCCAOR - 1651 N. 1st St. San Jose, CA 95112
RSVP to: DConetto@fnf.com
In this class you'll learn:
· How to read & understand them
· Who/What is the trustee
· Reading acceleration clauses & transfers of title
· How can I contact the trustee
· Understanding the position if the HOA & how that affects the successful close of escrow
· The Closing Process: Traditional sale vs Short sale vs REO
· How do you determine lien position
In order to answer these questions we will examine a Deed of Trust, Notice of Default,
Notice of Trustee Sale, Exceptions Page of a preliminary title
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Early registration ended Sept. 15, but there is still time to enroll into the Nov. 1 effective coverage date! Open insurance enrollment ends Oct. 15. Hurry, just a few business days left to enroll into the Nov. 1 effective date! | |
| Visit our website for more details. Call the Benefit Hotline to speak with one of our licensed Benefit Solution Specialists available from 7 a.m. to 7 p.m. (CST). 888-SBUA-INS
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This is a Keller Williams Realty, Inc. communication to its franchisees and their associates. We are not sending emails to anyone who is not part of Keller Williams franchise system. If you feel we have sent this email to you in error, please email us at feedback@kw.com. Keller Williams Realty International 807 Las Cimas Parkway, Suite 200, Austin, Texas 78746 | |
The Federal Reserve Board on Monday approved a final rule for home mortgage loans to better protect consumers and facilitate responsible lending. The rule prohibits unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage practices. The final rule also establishes advertising standards and requires certain mortgage disclosures to be given to consumers earlier in the transaction.
The final rule, which amends Regulation Z (Truth in Lending) and was adopted under the Home Ownership and Equity Protection Act (HOEPA), largely follows a proposal released by the Board in December 2007, with enhancements that address ensuing public comments, consumer testing, and further analysis.
"The proposed final rules are intended to protect consumers from unfair or deceptive acts and practices in mortgage lending, while keeping credit available to qualified borrowers and supporting sustainable homeownership," said Federal Reserve Chairman Ben S. Bernanke. "Importantly, the new rules will apply to all mortgage lenders, not just those supervised and examined by the Federal Reserve. Besides offering broader protection for consumers, a uniform set of rules will level the playing field for lenders and increase competition in the mortgage market, to the ultimate benefit of borrowers," the Chairman said.
The final rule adds four key protections for a newly defined category of "higher-priced mortgage loans" secured by a consumer's principal dwelling. For loans in this category, these protections will:
"These changes have made for better rules that will go far in protecting consumers from unfair practices and restoring confidence in our mortgage system," said Governor Randall S. Kroszner.
In addition to the rules governing higher-priced loans, the rules adopt the following protections for loans secured by a consumer's principal dwelling, regardless of whether the loan is higher-priced:
For all mortgages, the rule also sets additional advertising standards. Advertising rules now require additional information about rates, monthly payments, and other loan features. The final rule bans seven deceptive or misleading advertising practices, including representing that a rate or payment is "fixed" when it can change.
The rule's definition of "higher-priced mortgage loans" will capture virtually all loans in the subprime market, but generally exclude loans in the prime market. To provide an index, the Federal Reserve Board will publish the "average prime offer rate," based on a survey currently published by Freddie Mac. A loan is higher-priced if it is a first-lien mortgage and has an annual percentage rate that is 1.5 percentage points or more above this index, or 3.5 percentage points if it is a subordinate-lien mortgage. This definition overcomes certain technical problems with the original proposal, but the expected market coverage is similar.
One element of the original proposal has been withdrawn. The Federal Reserve Board had proposed for public comment certain requirements pertaining to so-called "yield-spread premiums." During the intervening period, the Board engaged in consumer testing that cast significant doubt on the effectiveness of the proposed rule. As part of its ongoing review of closed-end loan rules under Regulation Z, however, the Board will consider alternative approaches.
In finalizing the rule, the Board carefully considered information obtained from testimony, public hearings, consumer testing, and over 4,500 comment letters submitted during the comment period. "Listening carefully to the commenters, collecting and analyzing data, and undertaking consumer testing, has led to more effective and improved final rules," Governor Kroszner said.
The new rules take effect on October 1, 2009. The single exception is the escrow requirement, which will be phased in during 2010 to allow lenders to establish new systems as needed.
In a related move, the Board is publishing for public comment a proposal to revise the definition of "higher-priced mortgage loan" under Regulation C (Home Mortgage Disclosure), which requires lenders to report price information for such loans, to conform to the definition the Board is adopting under Regulation Z.
The Federal Register notices are attached.
Federal Register notice, Regulation Z: 565 KB PDF | HTML
Federal Register notice, Regulation C: 93 KB PDF | HTML
Statement of Chairman Ben S. Bernanke
Statement of Governor Randall S. Kroszner
Highlights of Final Rule Amending Home Mortgage Provisions of Regulation Z (Truth in Lending)
Consumer Testing of Mortgage Broker Disclosures, Summary of Findings (7.45 MB PDF)
Open Board Meeting Materials
2008 Banking and Consumer Regulatory Policy
On Saturday, October 3rd, Quizno’s in downtown Campbell is having a fundraiser for the “Carol of Lights” event. The owner of Quizno’s will donate 10% of his proceeds for the day to the “Carol of Lights” event in December. (“Carol of Lights” is an afternoon/evening for the KIDS, complete with snow to play in, food, music, and, of course, Santa Claus!)
“Campbell’s annual Oktoberfest is happening in downtown Campbell on October 17th and 18th. There is a need for volunteers to man ticket booths on both Saturday and Sunday, preferably in the afternoons. If you are interested in helping (and having a GREAT time while you help), contact Pam Finch…439-1370”
Thanks!!
Pam
Congratulations Melinda Bettencourt
Ø 897 Cherry Creek Circle, San Jose CA 95126
Ø Listing Price $339,900
Congratulations Shannon Rose & Melissa Haugh
Ø 942 Kiely Blvd, Santa Clara CA 95054
Ø Listing Price $139,950
Congratulations Debra Schwartz
Ø 4243 Erie Court, Santa Clara CA 95054
Ø Listing Price $309,950
Congratulations Shannon Rose
Ø 250 Carnegie Drive, Milpitas CA 95035
Ø Listing Price $310,900
Congratulations Dougg Kwan
Ø 120 Rue Boulgue, San Jose CA 95136
Ø Listing Price $426,000
Congratulations Jeff Hansen
Ø 835 Gaspar Vista, San Jose CA 95126
Ø Listing Price $649,000
On Saturday, October 3rd
Quizno’s in downtown Campbell is having a fundraiser for the “Carol of Lights” event. The owner of Quizno’s will donate 10% of his proceeds for the day to the “Carol of Lights” event in December.
“Carol of Lights” is an afternoon/evening for the KIDS, complete with snow to play in, food, music, and, of course, Santa Claus!
Come on out and help us raise funds!
Thank You!
From: Mona DeVlaminck
Sent: Monday, September 28, 2009 5:28 PM
To: 'generalblog@kwsv.com'
Subject: Kawika Mahikoa - Working offsite this week - Phone or email him.
If you need Kawika this week call him at 510.557.4143
or email Kawika@boxlour.com
He is working offsite this week.
Thanks, Mona
Do you sometimes wish you could gain that little extra “edge” over your competition when it comes to getting your buyers’ offers accepted in this challenging market?
Wednesday, September 30th, at 10:00 a.m.
Pam Finch will be teaching a one hour class that will give you some useful tips to get your buyers’ offers accepted and get them into contract on their new home.
Don’t miss it! You might learn something new that will be just the edge you need!!
Congratulations Mark Devlin
Ø 3008 Taicott Avenue, Marina CA 93933
Ø Listing Price $390,000
Congratulations Mark Easterday
Ø 3149 Morris Drive, Palo Alto CA 94303
Ø Listing Price $1,295,000
Congratulations Dane Carlson
Ø 3114 Vesuvius Lane, San Jose CA 95132
Ø Listing Price $525,000
Congratulations Mark Devlin
Ø 642 Terrace Street, Salinas CA 93905
Ø Listing Price $89,900
Congratulations Dan Gonzales
Ø 1771 Margaret Street, San Jose CA 95116
Ø Listing Price $250,000
Save the Date!
Keller Williams Silicon Valley’s
“Take a Walk on the Red Side” Open House Party
October 15th, from 4pm-7pm.
This is going to be a fabulous event show casing our New Office, our new Team Leader and the Wonderful People who comprise KWSV. Please make sure you save the date and think of the Realtors that you would like to invite. There will be wine tasting from the spectacular wines of Clos LaChance, gourmet appetizers catered by A Tasteful Affair and fabulous music. This event will be invitation only, with a guest list/RSVP guest list. Invitations will be ready by next week to personally hand out. This is Realtor Event, so we are only inviting Realtors and our vendor partners. We will be giving you more details in the next week at the Team Meeting.
Congratulations Quincy Virgilio
Ø 527 Naples Street, San Francisco CA 94112
Ø Listing Price $534,900
Congratulations Mark Easterday
Ø 592 Rockport Drive, Sunnyvale CA 94087
Ø Listing Price $869,000
Congratulations Lisa Paz-Furtado
Ø 678 Galleon Court, San Jose CA 95133
Ø Listing Price $220,000
Thanks and Have a Great Day,
Debra Kested
Agent Services Coordinator
Keller Williams Silicon Valley
(Phone) 408-583-3619
(Fax) 408-583-3620
(Email) asc@kwsv.com
Do you sometimes wish you could gain that little extra “edge” over your competition when it comes to getting your buyers’ offers accepted in this challenging market?
Wednesday, September 30th, at 10:00 a.m.
Pam Finch will be teaching a one hour class that will give you some useful tips to get your buyers’ offers accepted and get them into contract on their new home.
Don’t miss it! You might learn something new that will be just the edge you need!!
BROKER RISK MANAGEMENT
WEEKLY PRACTICE TIP
First Time Homebuyer Tax Credit
The federal tax credit of up to $8000 is scheduled to end on November 30, 2009. Many buyers are buying in reliance on obtaining that tax credit. However, a delay in the closing can result in a buyer losing that credit.
That tax credit may be extended, but there is nothing concrete at this time. We will advise you if there is an extension to this program.
PRACTICE TIP:
1. If you have a buyer who is planning on taking advantage of that tax credit, ask your buyer to sign this two page Advisory and Fact Sheet.
2. If this tax credit program is extended, then this Advisory will no longer be needed until the end of THAT extension; at which time we will issue an updated Advisory.
DO NOT FORWARD TO SELLERS OR BUYERS. This Weekly Practice Tip is for the exclusive use of clients of Broker Risk Management and their agents. It may not be reproduced or distributed without the express written consent of Broker Risk Management. The advice and recommendations contained herein are not necessarily indicative of standards of care in the industry, but rather are intended to suggest good risk management practices.
(Insert Company Name)
FIRST TIME HOME BUYERS ADVISORY
REGARDING TAX CREDIT
The federal government is providing a first time home buyer credit of up to $8,000 for the purchase of a principal residence by qualified purchasers who acquire their home in 2009. However that program is scheduled to end as of December 1, 2009. Although other incentive programs, such as the “cash for clunkers” giveaway, were extended beyond the originally scheduled termination date, there is no indication that the first time home buyer credit will be extended beyond its originally scheduled termination date.
To qualify for the credit, the first time home buyer must close escrow on or before November 30, 2009 and meet other eligibility requirements as specified on the attached Fact Sheet. Unfortunately, many factors can delay the close of escrow including but not limited to the buyer’s ability to secure financing, the seller’s ability to resolve any and all outstanding financial obligations affecting the property as well as the condition of the property. Real estate brokers have no control over any or all of these potential timing problems and thus brokers are not able to guarantee the precise date that escrow will close.
As your broker, we cannot represent, promise or guarantee that any particular buyer will be able to take advantage of any tax credit or incentive program. It is the buyer’s responsibility to determine for themselves in consultation with their legal and tax advisors as to whether or not they will be able to benefit from any tax credit or incentive program in the purchase of any real property.
The undersigned buyer acknowledges receipt of this one page Advisory and the attached one page Fact Sheet.
Buyer: ___________________________________ Date: _________2009
Buyer: ___________________________________ Date: _________2009
2009 First-Time Home Buyer Tax Credit Fact Sheet
Who is Eligible?
• The $8,000 tax credit is available for first-time home buyers only.
• The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase.
• All U.S. citizens who file taxes are eligible to participate in the program.
Payback Provisions
• The tax credit is a true credit. It does not have to be repaid.
• The only repayment requirement is if the home owner sold the home within three years after the purchase.
Income Limits
• Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income (MAGI) is less than $75,000.
• For married couples filing a joint return, the income limit doubles to $150,000.
• Single or head-of-household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first-time home buyer tax credit.
• Married couples who earn between $150,000 and $170,000 are eligible to receive a partial first-time home buyer tax credit.
• The credit is not available for single taxpayers whose MAGI is greater than $95,000 and married couples with a MAGI that exceeds $170,000.
Effective Dates for the Tax Credit
• First-time home buyers would receive an $8,000 tax credit for the purchase of any home on or after January 1, 2009 and before December 1, 2009. To qualify, you must actually close on the sale of the home during this period.
Tax Credit is Refundable
• A refundable credit means that if you pay less than $8,000 in federal income taxes, then the government will write you a check for the difference.
• For example, if you owe $5,000 in federal income taxes, you would pay nothing to the IRS and receive a $3,000 payment from the government.
• If you are due to receive a $1,000 tax refund from the government, your refund would grow to $9,000 ($1,000 plus $8,000 from the home buyer tax credit).
• Buyers can take the tax credit on their 2008 or 2009 income tax return.
Types of Homes that Qualify for the Tax Credit
• All homes, whether single-family, townhomes or condominium apartments will qualify, provided that the home will be used as a principal residence and the buyer has not owned a principal residence in the prior three years. This also includes newly-constructed homes.
For more details on the tax credit, go to www.federalhousingtaxcredit.com
Hello Campbell Market Center,
KW has revamped its technology to work for you. Out with the old technology and in with efficient & resourceful agent-based technology. Join me tomorrow at Gateway Market Center at 1PM and equip yourself with the latest technology.
Whether you’re setting up your agent Website, or are a whiz when it comes to building your own you’ll learn how to enhance your Internet presence and maximize your Keller Williams Agent Website!
During Basic Technology training you will:
- Get training on the basic functions of the KW Agent Website Admin Tool,
- Learn to create a custom KW Agent URL for your immediate online presence,
- Learn to create custom links and pages
- Learn how to add free eAgentC IDX to your Website, and more!
- Learn how to create a custom search string to link users to a preset list of property results,
- Learn how to create a hyperlink using text or graphics,
- Learn how to embed videos from YouTube.com,
- Understand what it takes to climb up in the Google ranks (Search Engine Optimization)
- Get training on purchasing and redirecting custom URL, and more!
This is a class you can't afford to miss!! We will see you at 1:00pm.
Watch our Brand New Technology Tips Videos!
Hello Gateway,
KW has revamped its technology to work for you. Out with the old technology and in with efficient & resourceful agent-based technology. Join me tomorrow at Gateway Market Center at 1PM and equip yourself with the latest technology.
Whether you’re setting up your agent Website, or are a whiz when it comes to building your own you’ll learn how to enhance your Internet presence and maximize your Keller Williams Agent Website!
During Basic Technology training you will:
- Get training on the basic functions of the KW Agent Website Admin Tool,
- Learn to create a custom KW Agent URL for your immediate online presence,
- Learn to create custom links and pages
- Learn how to add free eAgentC IDX to your Website, and more!
- Learn how to create a custom search string to link users to a preset list of property results,
- Learn how to create a hyperlink using text or graphics,
- Learn how to embed videos from YouTube.com,
- Understand what it takes to climb up in the Google ranks (Search Engine Optimization)
- Get training on purchasing and redirecting custom URL, and more!
This is a class you can't afford to miss!! We will see you at 1:00pm.
Watch our Brand New Technology Tips Videos!
Thanks,
Collins
REMINDER:
Free Mastery Coaching Call
for all associates this Thursday!
| Waitley's global best sellers: |
| The Psychology of Winning Seeds of Greatness Being the Best The Joy of Working Empires of the Mind The Winner's Edge |
Listen in and let one of the world's most sought-after keynote speakers and productivity consultants, Denis Waitley, help guide
you towards success in the face of challenge and change on both
a local and global scale.
| | MAPS Mastery Call | | |
| | Time: | 12 - 1 p.m. CDT | |
| | Date: | Thursday, September 24, 2009 | |
| | Dial In Info: | 646-519-5860 Pin: 5210# | |
| | Only 1,500 spots are available on the call so it is recommended that you call in at 11:30 a.m. to reserve your spot. | | |
“His material is so fresh, so relevant, so needed, so beautifully expressed, and so vital to the kind of change we all must undergo to succeed in this whitewater world of today.”
- Stephen Covey, Ph.D, author The Seven Habits of Highly Effective People
Don’t miss this powerful call!
This is an internal communication to Keller Williams Realty International Associates for the purpose of company communications. We are not sending emails to anyone who is not part of Keller Williams Realty International. If you feel we have sent this email to you in error, please email us at feedback@kw.com.
KWRI
807 Las Cimas Pkwy. Suite 200
Austin, Texas 78746
REMINDER:
Free Mastery Coaching Call
for all associates this Thursday!
| Waitley's global best sellers: |
| The Psychology of Winning Seeds of Greatness Being the Best The Joy of Working Empires of the Mind The Winner's Edge |
Listen in and let one of the world's most sought-after keynote speakers and productivity consultants, Denis Waitley, help guide
you towards success in the face of challenge and change on both
a local and global scale.
| | MAPS Mastery Call | | |
| | Time: | 12 - 1 p.m. CDT | |
| | Date: | Thursday, September 24, 2009 | |
| | Dial In Info: | 646-519-5860 Pin: 5210# | |
| | Only 1,500 spots are available on the call so it is recommended that you call in at 11:30 a.m. to reserve your spot. | | |
“His material is so fresh, so relevant, so needed, so beautifully expressed, and so vital to the kind of change we all must undergo to succeed in this whitewater world of today.”
- Stephen Covey, Ph.D, author The Seven Habits of Highly Effective People
Don’t miss this powerful call!
