Elisa Uribe

New Rentals Available in Lincoln Heights!

2010-03-15T19:02:00Z

Fabulous Duplex available now in the Lincoln Heights neighborhood!

-2 plus bedroom units

-Spacious Master

-Laundry room w/ Washer/Dryer included in the unit

-One unit features new hardwood floors, and a bathroom in the master bedroom

-One unit has private, enclosed patio area

-Kitchens are updated!

-Lots of light in each unit

Please view my listings for further information on each of these properties! Don't miss this opportunity to move to the Lincoln Heights neighborhood!

Carmel Listing

Educational and Experiencial - Invite a Berkeley Rep Docent to speak in your Living Room!

2010-03-15T18:47:00Z

What do libraries, classrooms, restaurants, living rooms, and dinner tables have in common? They've all been venues for talks given by Berkeley Rep's docents. While the Theatre continues to offer the talks regularly on Tuesdays and Thursdays at 7pm in the lobby, the volunteer docents - a team of almost two dozen people - have eagerly expanded their reach into the community. Talks for the public are regularly scheduled at the Orinda Library and special talks for groups are routinely offered at the Albany Adult School, Berkeley City College, and Berkeley Rep School of Theatre, and the Universitry of California, Berkeley. Unlike most docent talks in art galleries, in museums, or at the opera, Berkeley Rep's talks are balanced to provide both a core rooted in academia and an experience of shared thought and group interaction. The best part of going to the theatre is the shared experience you can discuss on the ride home. Docents act as a starting point to open up the themes and players in a show to provide you an access point. So, next time you're throwing a dinner party, planning a special event, or looking for an unsual gift, you should consider inviting one of our docents over -- talks are free and can be tailored to your needs.

Dates at the Orinda Library (all talks begin at 7pm):

Concerning Strange Devices from the Distant West: March 17th

Girlfriend: April 21st

The Wake: May 19th

If you're interested in inviting a docent into your workplace, living room or class room please email info@berkeleyrep.org or call them at 510.647.2900 x2951.

Market Developments in Loans/Borrowing

2010-03-15T17:56:00Z

---Borrowers can search and identify the mortgage investor holding their loan with Fannie Mae's Loan Lookup at http://makinghomeaffordable.gov/loan_lookup.html. Freddie Mac also provides a comparable tool on its Web site.

---Wells Fargo inherited a $119.7 billion portfolio of option ARMs when it purchased Wachovia. The bank now is writing down an average of $46,000 per loan, and as much as $100,000 in some cases, and transferring these loans to interest-only loans, deferring balances six to 10 years. According to the Wall Street Journal, the nation's fourth-largest bank is betting that an increase in consumer income will cover the bank's option-arm portfolio.

---Loan Modifications? Fewer than 5 percent of all trial loan modifications on Freddie Mac loans stuck, that is, were converted to permanent modifications, according to a recent article on CNNMoney.com. Under the Obama administration plan, qualifying homeowners would have their loans modified to payments that are no more than 31 percent of pre-tax income. During the trial period, homeowners must supply documentation to verify income and expenses. This appears to be the hitch. Some banks have begun sending servicers door to door to obtain the documentation, or have begun offering $25 gift cards to provide the paperwork.

---Loan Mitigation Scams. Loan mitigation scams are multiplying, snagging REALTORS and victimizing - sometimes for the second time - those who are facing foreclosure. A national campaign called the Loan Modification Scam Alert can help you and your clients detect and avoid these scams. To learn more, visit www.loanscamalert.org.

---CalHFA Is Back: The California Housing Finance Agency (CalHFA) has announced a new mortgage option called Cal30, a fixed-rate, 30-year loan. Cal30 combines the predictability of a fixed-interest rate with the affordability of up to 95 percent financing. For more information on CalHFA and its products, please visit www.calhfa.ca.gov.

(Information found in California Real Estate Magazine)

Home Affordable Refinance Program (HARP) has been extended

2010-03-04T04:22:00Z

The Federal Housing Finance Agency (FHFA) this week announced the extension of the Home Affordable Refinance Program (HARP) to June 30, 2011. HARP is a refinancing program administered by Fannie Mae and Freddie Mac and expands access to refinancing for qualified individuals and families whose homes have lost value. The program was originally set to expire June 10, 2010.

In 2009, Fannie Mae and Freddie Mac purchased or guaranteed more than 4 million refinanced mortgages. Homeowners can visit www.MakingHomeAffordable.gov for additional information on the program.

New Web site launched to prevent loan mod scams

2010-03-04T04:18:00Z

New Web site launched to prevent loan mod scams
The U.S. Dept. of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, launched PreventLoanScams.org, a new Web site to prevent loan modification scams.

The Loan Modification Scam Prevention Network developed the Web site to provide homeowners with a single destination to report alleged scammers. Complaints filed online are added to a national complaint database and forwarded to the appropriate law enforcement agencies for review. The Network estimates that the Web site will assist approximately 50,000 homeowners affected by scams. Additionally, HUD has directed its local fair housing and housing counseling grantees to begin reporting alleged loan modification scams via the Web site.

IRS Clarifies What's Needed to Claim Tax Credit

2010-02-26T19:24:00Z

Please make sure you talk to your tax advisor about the but I just read in the Washington Post, the Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.

While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.

The IRS clarification says: "In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. … The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return.”

For repeat buyers, the IRS is seeking documentation that home buyers have lived in the previous property for a consecutive five of the past eight years. Proof can include property tax records, home owner insurance records, or mortgage interest statements.

Source: Washington Post (02/20/2010)

More information about this topic can be found at http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

Susan G Kome Breast Cancer 3 Day Walk is in October. Help me reach my goal

2010-02-10T19:16:00Z

Well, it's been two years since I walked 60 miles in 3 days and I'm about to do it again. This year, I'm excited to be walking with my friend Carla who lives in Novato. Since the last walk, I've reconnected with friends who have told me they are breast cancer survivors, and many of my friends mom's have recently been diagnosed. We all know why it's so important to find a cure. Now you can do something about it. If you can find it in your heart to donate some of your hard earned cash, I'd really appreciate it! You can make a difference.

I will donate $100 from each closed escrow in 2010 towards finding a cure for breast cancer.

If someone you know seeks an experienced, honest Realtor, I’m never too busy for your referrals.

Fun February East Bay Events

2010-02-04T23:02:00Z

A few weeks ago I found myself at the Berkeley Rep Theatre. Now for those of you who are not aware, the Berkeley Rep has had a number of hits over the years. Coming Home is playing through February 28th and has an amazing cast of characters. Because of the size of the theatre, every seat in the house has an unobstructed view of the stage. Isn't it time you treat yourself to a little local talent? More about this production and other event in the east bay below.

Sustainable Business Association Networking Lunch
The SBA is a membership organization for companies committed to greater environmental and socially responsible business practices. Their members are a diverse community of over 100 sustainable businesses in the Bay Area.
Fri, Feb 5, Noon
Mandarin Garden Restaurant, 2025 Shattuck Ave, Berkeley

Lunar New Year Bazaar
This celebration, held in the heart of Oakland Chinatown, welcomes the new lunar new year: the Year of the Tiger. The event features vendors selling traditional new year decorations, flowers, gifts, candies, and other items of interest. There will also be continuous live cultural entertainment featuring dragon and lion dancing, martial arts, Chinese cultural music, and a Little Prince & Princess Contest.
Sat-Sun, Feb 6-7, 10am-5pm
9th St at Franklin, Oakland

Clean Power, Healthy Communities: A Regional Conference of the Local Clean Energy Alliance
Grassroots community activists throughout the Bay Area are advocating for local solutions to rising greenhouse gas emissions, with a focus on healthier sustainable communities and green jobs development. The purpose of the conference is to report on the status of clean energy programs in the Bay Area, share best practices, bring together clean energy advocates, and explore the potential for more regional collaboration and coordination.
Wed-Thu, Feb 10-11, 12pm
California Endowment, 1111 Broadway, 7th Floor, Oakland

Bay Area Girls Rock!
Bay Area Girls Rock, Whole Foods' February Nickel's for Nonprofit recipient, will showcase a variety of bands.
Fri, Feb 12, 5-7pm
Whole Foods, 230 Bay Pl, Oakland

Valentine's Day High Tea for Kids
Enjoy a special celebration of herbs and flowers at this afternoon tea party for adults and children of all ages. Make fresh teas, herb finger sandwiches, taste lavender cookies and make valentines from pressed botanicals. Registration required.
Sun, Feb 14, 2-3:30pm
UC Botanical Garden, 200 Centennial Dr, Berkeley

Valentines Day Weekend with Mavis Staples
Mavis Staples is the American R&B and gospel singer and civil rights activist who recorded with The Staple Singers. She has appeared alongside everyone from the Reverend Dr. Martin Luther King, Jr to Bill Cosby to Presidents Kennedy, Carter and Clinton to musicians Janis Joplin, Pink Floyd, Santana and Tom Petty & The Heartbreakers and had recording sessions with Prince, Bob Dylan, Los Lobos, Aretha Franklin and so many others. $40
Fri-Sat, Feb 12-13, 8pm and 10pm
Sun, Feb 14, 7pm show

East Bay Green Drinks
A lively monthly gathering for anyone interested in sustainability, including green business, environmental and social causes, architecture and design, organics, renewable energy and more.
Wed, Feb 17, 5:30pm
Location TBA

Adventuring Off-the-Beaten-Path
Greg Michaels' travels around the world have brought him to 60 countries, where he's discovered the magic of making seemingly random locations his destinations. Join him for slides and stories of his global adventures, seeking out, with GPS in hand, some of the most coveted "confluence points", significant coordinate locations, using latitude and longitude.
Mon, Feb 22, 7pm
REI Berkeley, 1338 San Pablo Ave, Berkeley

African Film Festival
Wrestlers in Senegal, avant-garde dancers in Zimbabwe, youth gangs in Nigeria, cine-club owners in Burkina Faso, albinos in Kenya, and even Ghanaians in New York City: this year's selection offers a dizzying spectrum of experiences, tales, and visions. Conversational documentaries mix with a new breed of African narrative cinema, as lively and contemporary as anything Hollywood has to offer.
Through Feb 24
Pacific Film Archive, 2626 Bancroft Way, Berkeley

Reduce Your Footprint in 2010: A Free Community Workshop
Discover resources in Berkeley to help you reduce your personal and collective carbon footprint. At this workshop you will find out how your lifestyle practices and the choices you make impact greenhouse gas emission and receive information for implementing energy efficient and renewable energy options in your home, workplace, congregation, school, and other shared spaces.
Thu, Feb 25, 7pm
Berkeley Fellowship of Unitarian Universalists, 1924 Cedar St at Bonita, Berkeley

Celebrating Black History Month
Speak with NASA representatives in a live webcast, with hands-on demos and other fun activities as we celebrate contributions of African Americans in space and science.
Sat, Feb 27, 10am
Chabot Space & Science Center

Aurora Theatre Presents The First Grade
The First Grade, which originated as one of Aurora's Global Age Project winners last season, follows the humorous (and perilous) journey of a schoolteacher whose attempt to rescue her physical therapist from her own problems contributes to a chaotic whirlwind of boisterous first graders, a depressed daughter, a Ritalin-medicated grandson, and a live-in ex-husband.
Through Feb 28
Aurora Theatre, 2081 Addison St, Berkeley

Coming Home
Ten years after running off to the city to pursue her dreams, Veronika returns in rags. Among her meager belongings, she carries a desperate secret-and determination to plant the seeds of a new life for her son. It's a "sad, sweet, and gently moving" show, says the New York Times, "a beautifully acted production directed by Gordon Edelstein." In Coming Home, Fugard confronts the hard truths of his homeland (South Africa) while celebrating the power of hope.
Through Feb 28
Berkeley Repertory Theatre, 2025 Addison St, Berkeley

Forbes Magazine agrees with Oaklanders...It's a Smart Place to Buy a Property

2010-01-22T19:48:00Z

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.

To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 cities the magazine chose as the best places to buy right now.

Boston-Cambridge-Quincy, Mass.
Charlotte-Gastonia-Concord, N.C.-S.C.
Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
Cincinnati-Middletown, Ohio-Ky.-Ind.
Denver-Aurora-Broomfield, Colo
Minneapolis-St. Paul-Bloomington, Minn.-Wis.
Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
Portland-Vancouver-Beaverton, Ore.-Wash.
San Francisco-Oakland-Fremont, Calif.
Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

Source: Forbes, Francesca Levy (01/21/2010)

FHA is Changing the Rulus - Do you Still Qualify?

2010-01-22T19:42:00Z

The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, the agency announced Tuesday.

The change is among a number of major changes the FHA is making to ensure its long-term financial soundness.

Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a credit score above 580 will be able to continue to put down only 3.5 percent. The changes are intended to shore up the agency's finances.

The FHA also will increase its upfront mortgage insurance premium from 1.75 percent to 2.25 percent. The agency is expected to seek congressional approval to raise annual mortgage insurance premiums, paid by borrowers over the life of the loan, above the current 0.55 percent maximum. The amount it will seek has yet to be announced.

For more information on the FHA changes, inlcuding a summary of all changes, visit REALTOR.org.

Beginning in March, Oakland REO Residential Properites have 30 days to register with the city.

2010-01-17T20:06:00Z

Hundreds of foreclosed homes in Oakland may be vacant for long periods of time leading to blight and crime and dramatically affecting neighbors. A new ordiance http://clerkwebsvr1.oaklandnet.com/attachments/23756.pdf requires homes that have been foreclosed to register with the city within 30 days.

The banks must pay a $500 year registration fee and name a responsible person/agency that is located within 25 miles of the home who can be contacted by the city and neighbors for any problems. The fee will help pay for Building Department staff that may have to inspect, monitor problems and keep track of vacant properties. The city council will be looking at an ordinance for vacant commercial property separately.

Buyer's who qualify for FHA loans will be happy to hear the 90 day rule on flipping properties is changing

2010-01-17T16:22:00Z

As the people in governement take time to read the details and talk to people who are directly affected by issues, some of the rules they have passed are starting to be modfied. This is one of them. Beginning February 1, 2010, your chances of buying a home using FHA financing on a property that has been "flipped" has just increased. See the complete details below and I'd just like to remind you why it's so important to work with a full time Realtor and Lender who is keeping up with Real Estate issues in today's market.

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS
Measure to help bring stability to home values and accelerate sale of vacant properties

WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.

"As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers," said Donovan. "FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization."

With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.

"This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed," Donovan said.

In today's market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.

The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.

"FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties," said FHA Commissioner David H. Stevens. "This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity."

The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of "flipping" where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:

All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
In cases in which the sales price of the property is 20 percent or more above the seller's acquisition cost, the waiver will only apply if the lender meets specific conditions.
The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

Specific conditions and other details of this new temporary policy are in the text of the waiver, available on HUD's website.

Emergency Relief for Haiti from Your Realtor. Make use of your Old Shoes

2010-01-16T17:48:00Z

We are deeply saddened by the tragedy unfolding in Haiti’s capital city of Port-au-Prince and its many surrounding shantytowns which were decimated by a large 7.0 earthquake last week. Elisa Uribe would like to ask your help in conjunction with Soles4Souls to provide appropriate rugged boots and shoes to help survivors locate others trapped in the rubble and begin the rebuilding process.

This country already ranks among the very last in economic opportunity and experiences widespread poverty. In the past few years it has been hit with four large hurricanes, several deadly floods and now a monster earthquake.

What can you do? Along with other vital donations, such as medical supplies, food, potable water tablets and blankets, a pair of solid shoes is absolutely necessary in order to participate effectively in rescue and rebuilding efforts.

We are asking you to find and give the most appropriate footwear to help the victims of this awful disaster, and to do it quickly. For the next two weeks, we will collect donated shoes at our office located at 1451 Leimert Blvd. Oakland and send them off to Souls4Souls. Shoes must be dropped off no later than January 29^th.

To make other types of monetary donations please go to www.redcross.org or another reputable, charitable organizations.

To view more information about Souls4Souls check out: www.soles4souls.org

We thank you in advance for you help,

Sincerely,
Elisa Uribe- Wells and Bennett Realtor

Want to Buy a House on the Courtroom Steps? Not For the Faint of Heart

2010-01-14T23:53:00Z

Today I found myself driving to Downtown Oakland to take the mystery out of what it's like to see a group of investors with cashier's checks in hand hoping to buy a property directly from the bank.

When I arrived at the corner of 13^th St and Fallon, across from Lake Merritt, I saw more than twenty people; some who looked like they knew what they were doing, and others hoping to play the part. It was such an intimate scene to watch all of them huddled together, close enough to listen to the auctioneer and close enough to verbally compete with each other.

At one point I noticed there were two or three people bidding on the same property. With the tap of a shoulder to indicate the money man approve a higher price, the next bidder shouted out his next bid. Since no one is patting themselves on the back for a job well done, it’s hard to tell who really won in the end. Was it really the winning bidder? Or did he just buy a property that others never really wanted.

If you decide to go, just beware there is no way to avoid standing out like a sore thumb if you just plan to watch the pros in action. I got the feeling it was the good ‘ol boys, a club that takes years to be a part of it, unless you’re lucky to have someone take you under their wings. These men mean business and know what they are doing.

Everyone had their paperwork in hand, and I know they were on Foreclosure Radar that morning of the sale just to make sure the properties they were interested in had not been removed from the list of properties for sale that day.

That of course, is only part of the research. There are many reasons why a property can be listed for sale by the bank (trustee) and then postponed or cancelled. Perhaps it had to do with a short sale that went through, or a loan modification in progress. It’s important to do your homework before you bid on a property, win the bid, and then find out the sale will be reversed and your money will be refunded. If this happens, then in the end, you don’t have a property, and you missed out on the opportunity to buy another property you might have been interested in that day.

I think the people that really make money buying properties directly from the bank are the ones that have a team of people and it comes from years of trial and error. Quite an exciting day!

Jean Quan is Running for Mayor of Oakland. Will she be our First Woman Mayor?

2010-01-14T17:24:00Z

Last week I attended an event to support Jean Quan who is Running for Mayor of Oakland. It was held at a supporters home in Oakland off College Ave. If you have never gone to an event like this, I highly recommend it.

What did I get out of it? Well, I had the change to spend a few minutes one-on- one with a candidate who's running for Mayor the grass roots way, knocking on doors, meeting people in small group settings to find out what they want to see in a Mayor, and then answering as many questions as best she can.

Have you asked yourself lately what you like about Oakland and what you want to see happen in your neighborhood? Not a surprise, many of us had the same ideas. We love Oakland because of the poeple, the diversitiy in people and homes, the art influense that surrounds us, the wonderful restaurants, and our positive support of the environment just to name a few.

What were some of the changes we wanted to see? Better roads, a more positive outlook on Oakland through the medial channels, and for our city council to make smart choices on our behalf.

What did I learn that night? I learned Oakland is in negotiations with Target stores and if the deal goes through, we will have a Target in Oakland! I've lived in Oakland for 13 years and saw the build of the Ikea and the Emeryville shopping area expand and always wondered why our city was never able to negotiate with large companies to come to Oakland. I realized that night it's a lot more complex than it seems. Whole foods downtown and the additions of Trader Joe's and Farmer Joe's locations now in Oakland remind me that we might finally be moving forward to more tax dollars staying in Oakland. If we can grow our tax base in Oakland and make smart business choices for the city, then we can all prosper in a city we love.

By attending the meeting and listening to Jean Quan, I learned that Oakland received 60% of the Ikea revenue and if the Target deal goes through, then Emeryville, our neighboring city will also receive tax revenue. We recycle 67% of our garbage in Oakland while the National Average is somewhere between 20%-30%. If I took better notes, I could actually tell you the percentage.:) She can go into the details about General Fund and how 60%-80% goes towards the Oakland Fire Department and the Police Department, how Prop 42 was passed as a gas tax for local cities to have funds to fix the streets and pot holes in neighborhoods, but over the last seven years the state has borrowed the money half the time.

By the end of the event it was a bit overwhelming to think of all the issues that need to be resolved in our city and in the end I've concluded that we really need a Mayor who has in depth knowledge of the issues at hand, and someone who is excited and motivated to make a difference.

Is Jean Quan that person? That's up to you to decide. For more information about Jean Quan, go to http://www.theoakbook.com/MoreDetail.aspx?Aid=1467&CatId=10 or sign up for her newsletter at http://www.jeanquan.org/news.htm#subscribe