Mission Canyon – A Gem in Santa Barbara County

Posted on September 30, 2011 by Wendy

Santa Barbara is filled with quaint neighborhoods, view properties and pockets of rich historical background. Mission Canyon is one of those neighborhoods with it’s winding roads, eclectic custom homes boasts both ocean and mountain views!

This neighborhood derives its name from the Mission Santa Barbara. The Mission is the heart of the city Santa Barbara and is the 10th mission of California, founded by Franciscan Friar Fermin de lausen on the feast of Saint Barbara, December 4, 1786. The Mission is a landmark that sets Santa Barbara a part from other coastal cities.

http://santabarbaramission.org/

The canyon itself is one of the most dramatic in the Santa Ynez Mountains. The highest peak is the La Cumbre Peak – 3,985 feet. The canyon is also home to the famous Santa Barbara Botanic Gardens. In 1926 Mrs. Anna Dorinda Bliss of Montecito purchased a 26 acre subdivision of Mission Canyon to preserve the native flora of California rather than have tract housing in its place. The Botanic Garden now has over 60 acres and is deeded to the Natural History Museum.

http://www.sbbg.org

Mission Canyon is located north of the 192, Foothill Road to Mission Road to the south. Tunnel Road in Mission Canyon will lead you to Rattlesnake Canyon a wonderful and challenging hiking trail! The Mission Canyon residents have resisted annexation to this day instead preferring to be a part of Santa Barbara County.  You will find writers, photographers, and artists of national status living in Mission Canyon. The population as of 2010 was 2,381 people.

The neighborhood is conveniently located to downtown Santa Barbara life and has numerous schools and cultural activities. House prices range from $799,000 – 1,200,000

Here is an example of a  home we are featuring for you to watch:

If you have any questions about this wonderful neighborhood, Mission Canyon or about Santa Barbara Real Estate, please contact Wendy Bodnar at www.wendybodnar.com

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From Cyprus to Santa Barbara – The American Riviera

Posted on August 23, 2011 by Wendy

At one time my husband Paul and I were very seriously considering moving to Cyprus -(the island just south of Turkey) -  to live the dream of spending our “golden years” on an island with white sand, clear green/blue water and to be without snow all year round! We traveled to various parts of Greece over our 21 year marriage; Athens, Meteora, Samos, Santorini, Crete, Corfu and Cyprus – which captured our hearts. We even have a Cypriot family that  adopted us!!! http://www.visitcyprus.com/wps/portal

Many of our friends and family knew of our plans to be living on this amazing Greek island by the year 2010 – well it’s 2011 and we are still in Santa Barbara. Here are some reasons why:

Average yearly temperature – 17 degrees C – 64 degrees F - No snow – ever!!! Only on the tops of distant mountains in the winter

Population – 93,000 (Santa Barbara)

300+ days of sun per year

English – main language and it’s on North American soil (closer to our children and grandchildren)….

Wine country, hiking, surfing, sailing…..and the beaches!!!

Santa Barbara is known as the American Riviera for many reasons; the moderate year round temperatures, the amazing landscape of sea, sand, palms, hills and mountains, the year round growing season, golf courses that never close, the easy journey to wine country and an hour and a half to the city lights of Los Angeles. But the biggest draw for many are the amazing beaches that spatter this south facing coastline.

One of the main attraction beaches in Santa Barbara is East and West Beach. There are sooooo many things to see and do. The Santa Barbara Harbor is beautiful featuring sailboats of all sizes, tour boats, fishing boats, the yacht club, numerous restaurants and shops. West Beach is the perfect spot to watch the boats coming in and out of the Harbor, the 4th of July fireworks and both local and international beach volleyball.

West Beach Santa Barbara

Then there is Stearn’s Wharf – the largest wooden pier in North America! It is bordered by East Beach – probably the most popular tourist beach in Santa Barbara. Again, fresh seafood, shops, restaurants and the Tye Warner

http://www.totalsantabarbara.com/beach.shtml

Enjoying East Beach

I sometimes miss the Greek Isles and when I do – I know that I can just go up the road to St. Barbara’s Greek Orthodox Church right here in Santa Barbara and be there! The white washed Church with the brilliant blue dome, the mosaics inside, the Greek Byzantine chanting and incense brings me right there.

http://www.saintbarbara.net/

We will always love our Cypriot family – in fact we are attending a wedding there in June! But Santa Barbara is home, we have found our paradise, we are living our dream right here in North America!

 

 

 

 

 

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Santa Barbara “Sticker Shock” – Still the Best Investment!

Posted on May 21, 2011 by Wendy

When most people consider moving to the Santa Barbara area the biggest obstacle is the housing prices….”Sticker Shock!!!“. It isn’t just the purchase price but rentals as well. When we first moved here we found a furnished one bedroom condo for $2,100/mo – we were sticker shocked!

I have met so many people that have come from the mid west or northern states and even New Yorkers who are absolutely shocked at prices of homes on the American Riviera. Also, many of my fellow Canadians are buying in Phoenix or Palm Springs and do not understand Santa Barbara. We will discover together that Santa Barbara is still YOUR BEST INVESTMENT!!

Coming into the Santa Barbara marketplace at this time is very good for making a buying decision. Especially if you have good credit, a lender pre-approval letter in hand and no house to sell first. This makes you the best type of buyer and the one that will get the best property at the best price. The seller will be happy too as many deals are falling through because of credit problems or having a home to sell before they buy.

The good investment part comes in on many levels – first of all it’s Santa Barbara – perfect weather year round, the ocean, the mountains, the wine tasting and proximity to Los Angeles for those of us who still like a big city feel. The building codes and commitment to architectural guidelines and philosophies of “small town” will always keep Santa Barbara special. This is where Oprah has a home, Jeff Bridges lives and many other celebs come to retreat from their hectic lives – cool!

View from the Courthouse Clock Tower

Now for the better news! According to the latest Santa Barbara Association of Realtors Summary Statistics presented at the May 4th meeting for January 1st- April 30th. Our current prices equate to prices that were seen in 2003! The median price for a home in 2003 was $807,000 and during the same time period in 2011 it is $810,000. Now, this might still be shocking you – but the median prices for 2005-2008 were $1,200,000!!! Interest rates remain low, even for investors and rental rates are high. All of this adds up to a great investment! The vacation rental rates are also very attractive to anyone wanting a home to live in part time. Rates range from as low as $1,000/wk to $10,000/wk depending on where it is located and what type of view the property has. Recently I heard of a home facing the ocean that rented out 80 days last year and made $50,000!

You can purchase a 2 bedroom, 2 bath condo for under $375,000 and the lowest priced single family dwelling right now is $309,000. There are many “good buys” out there. Well, I hope this helps you a little bit. Please visit our website at Village Properties. If you are interested in more information about the market here please let me know – I would be happy to help! Wendy Bodnar DRE#01897970, Village Properties.

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Surfs Up! Surfing Santa Barbara

Posted on April 25, 2011 by Wendy

Three years ago while visiting my daughter and my son-in-law  in Aberdeen, Scotland I noticed a book they had in the guest bedroom called “Fit to Surf”. My son-in-law was getting into the sport at the time. After reading the book I realized that I was totally unfit to surf! About a year and a half ago a school that my husband was running, St. John of Damascus Academy, was featuring a PE unit on surfing. I had just turned 50 and I thought I would give it a try fit or not. There I was at Campus Point near the University of California, Santa Barbara (UCSB), with the grade five and sixes floundering in the water. I had borrowed a board first of all I could hardly lift it or carry it and I had no idea that I was supposed to wax it! Let’s just say I spent much time in the cold water drinking it!

My first surfing lesson

After building a bit of confidence I wanted to surf more and I discovered a wonderful group called Santa Barbara surfer girls.com this group is open to anyone trying this incredible sport. I made friends and met women at my level at beaches that suited me. I found a great winter weight (for the cold water)  wet suit on craigslist. When I went to try on the wetsuit I had no idea how to put it on there was only a neck hole – no zipper. After much wiggling and giggling I got in it – taking it off was twice as hard and twice as funny! This is one of the toughest parts of surfing for me – my book would be: “Are you Fit Enough to get in and out of your Wetsuit?” I then took the plunge and bought my very own board at a surf swap meet hosted by Santa Barbara City College, (SBCC). I ended up with a Wayne Rich 9’6″ blue board.  Now I was starting to feel like a surfer! I still wasn’t really surfing, but I felt like I was beginning to look the part.

With my son-in-law at Hendry's Beach

My favorite surfing spots are: Hendrys’ Beach (the Mesa), Ledbetter (SBCC), Mondos (in Ventura), and Campus Point where it all started. Winter seems to be the best time and you can check the wave heights on various sites. I never surf alone, I have learned surfing etiquette and love the peace of being in the water and the shear excitement of catching that wave.

So, it doesn’t matter how fit or unfit you are, or how old you are or even how cool you are. As my grand-daughter Callia says…”Just try it!”

Yes that's me on top of the wave!

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Top 3 Tips to Sell Your Home! Anywhere/Any Market!

Posted on April 11, 2011 by Wendy

During my 12 years helping people fulfill their Real Estate dreams I have discovered some invaluable tips to get your house sold! It doesn’t matter if you are in a sellers market, a buyers market or in a balanced market. These tips will help you get your home shown more by Real Estate agents and get the offer! These tips are also not limited to a certain neighborhood or city or country for that matter – these are Real Estate truths that will help you anywhere and in any market – Enjoy!

TIP 1: Price  – Getting it right the first time!

This is crucial for your property. When listing your home you want to compare your property to similar properties in your neighborhood that have sold within the last 6 months- not just “for sale” (what people are asking and what they will get can be very different). I have found that many sellers want to get what their neighbor told them they got. First of all, the neighbor may have exaggerated, they may have had more square footage or more upgrades or they sold two years ago! As a seller, being realistic is key as the savvy buyer is looking at everything in the marketplace to compare apples to apples. If you cannot agree on price have your property listed without a price and get a “price set”. This allows Real Estate agents from the entire company to come in first and view your property and give their input into a realistic listing price. Then set your price based on all of the information. If you have not received an offer within the first 2-3 weeks your price is too high – lower it! Remember when you are fresh on the market – everyone is excited – all of the current qualified buyers are looking – it will become stale if you wait too long to reduce. So, set the price right the first time and get it SOLD!

TIP 2: Product – this is the state of your home’s presentation – inside and out!

Whether you use a professional stager or landscaper or not – it is a concerted effort with you and your Realtor to have the house showing its best. The things that you have loved about your home is probably what will sell it to others. The most difficult thing to understand is that when you are selling – your style may not be the buyers style. If you can believe it there was one home that I showed with carpet on the kitchen cabinets!!!! Really – you had to use the dust buster to clean! Keeping things de-cluttered, neutral colors, de-personalized, very clean and pet free are all going to help you get that offer. Having pets is a real joy – but not for the Real Estate business - whenever we review our showings we look into how to show the property – is it available? on lock box? are their pets? When a listing says – “don’t let the cats out, do not open the lower level bathroom door Doberman Fang is inside, or please watch for flying birds.” This makes a Realtor think twice. On one occasion I was showing a group of 6 properties to a young couple. The first property had a sweet old Bassett Hound – cute – until we got to the kitchen where we were met with a smell and a large deposit – YUK! I have had to deal with pets on many occasions and it takes away from the house – so please have them stay with friends until you are in escrow/pending – or fully closed! At the very least have the home pet free for all showings.

TIP 3: Placement in the Market

This is where your chosen Real Estate professional can really shine. If we have learned anything in this business it is that there is a buyer for every property out there! Marketing your properly priced and pet-free, pristine showing property is the last in the must do tips to get your house SOLD! First of all – you have to answer the questions:

Who is our market? Is it a home geared to young families, a retired or professional couple, a single person, a group of students, an investor etc. Knowing who your main target market is helps you determine your marketing strategy of internet sites, print media, TV, other agents in the neighborhood etc.

What is our marketing plan? The internet is playing a larger and larger role each year. We now carry the world in our phone, ipad or lap top. Everything is at our fingertips and fast. So, your marketing plan has to be competitive and on the right sites to reach your target market. MLS (multiple listing service) is the first key with visual pleasing pictures and tours of your property, creative (and true) writing to entice the prospective buyers to your home.  Other sites like trulia zillow are two that most buyers will look at in addition to the MLS. Even sites such as craigslist are getting Real Estate attention. With print media it must be focused for return on investment, TV has a following but the internet is top! Public Open Houses bring out everyone – neighbors, people looking for decorating tips and the odd buyer – but usually not going to buy your home. Realtor Open Houses are very helpful and create a buzz for all agents with qualified buyers looking for your home. Create a plan that will combine specific target and whole world marketing – you never know where that buyer will come from.

There is so much more to help you sell your home – but I hope you enjoyed these top 3 tips!

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Take a Hike!… In Santa Barbara

Posted on March 30, 2011 by Wendy

Hiking has always been a passion of mine – but in Canada I had never really had chance to get out on a regular basis due to our lengthy winter season (still 5 feet of snow there on a recent visit!). When we first relocated to Santa Barbara, about 3 years, ago we immediately joined the Santa Barbara Newcomers group. This group offered all new residents an opportunity to get together in various venues for social and physical activities. I joined the East Beach walking group – which I have been the chairperson of for over a year, the Hendry’s Beach walking group and the Friday morning Happy Hikers group.

The first thing that I learned about our hiking group was that when they suggested the level of difficulty as a 5 out of 10 it really meant 8 or 9!!!! This was according to my lungs, upper thighs and knees. Over the past two years I have had amazing hikes with vistas, water falls, learned about the natural flora and animals that roam our hills. I have met wonderful people that tell stories of finding their home in paradise coming from Michigan, New York, Indiana, and even Paris! We have all made our way to live our lives in this dream we call Santa Barbara. Not only are the beaches stunning – but the hiking is truly another gift of living in this unique spot.

My favorite hikes and why…

Romero Canyon the first time I did this hike I thought my thighs would burn right through my pants – but I discovered later that I was going the “hard way” and now I only go the “regular” way (stay right at the fork). The view at the top is stunning and the regular way keeps the sea at our side and opens up a little more with each curve in the path. Romero can be a loop as well depending on how much time you have.

View from Romero Canyon Hike

Hot and Cold Springs: I have hiked both of these many times and have come to value the use of poles – they do not have to be official hiking poles – I got mine for free at a garage sale! The views are not ocean, but mountain and the “falls” are wonderful in the winter! Great hike – fun and safe.

Inspiration Point: Another wonderful hike with a view that will take your breath away. It takes about 45 minutes to get to the top at a decent pace and well worth it. There have been many fires up in these hills since I have lived here and it is amazing to view the new green growth in amongst the blackened tree trunks.

Santa Cruz Island: This is a very special trip – we went to Ventura to catch our boat to head across to the Channel Islands. The ride was amazing with dancing dolphins and hump back whales leading the way. When we docked at Santa Cruz – the largest of the Channel Islands we were told to stay on the trails and not venture close to the edge of the cliffs – good advice! We went with a group of friends and chose a fairly easy hike as we had people of all ages in our hiking group. We found a spot and enjoyed wine, cheese, bread and sausage – and the view awesome!

From the top of Santa Cruz Island

Nojoqui Falls: First of all many of us have driven by this coming back to Santa Barbara after a day of wine tasting. We just drive right by the small sign on the side of the 101. We also have no idea how to pronounce it…“no-hoe-wee” it was named by the Chumash natives. This is not really a hike more of a nice walk in nature – great for kids to come and see. The falls are gorgeous and we loved the Nojoqui Falls

Wonderful Nojoqui Falls

Well these are just a few of my favorite hikes in the Santa Barbara area. Check out this link for many more: Santa Barbara hikes

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Santa Barbara Architecture – Love at First Sight!

Posted on March 16, 2011 by Wendy

I will never forget the first time we flew into Santa Barbara. We hovered over the crystal blue water, witnessed the sandy beaches, swaying palms and then the rolling hills speckled with red clay roofs clinging to the cliffs. My first impression was…is this the Mediterranean? The Italian coast or Tuscany? No, this is the American Riviera – Santa Barbara, California a dream within a dream and an architecture so vast it will satisfy every buyer in the marketplace. Not only will you see the Spanish revival, the California Bungalow and the Craftsman traditional – you will also find the Victorian, the Santa Fe and the ultra modern! Here is a look at the red tiled roofs of Santa Barbara from the Court House.

Santa Barbara Red Tiles from Court House

As I went on tour today in Santa Barbara I visited 5 different homes in 5 different neighborhoods with 5 different types of architecture! I viewed a sprawling ranch in Bel Air Knolls followed by a large contemporary 2 storey in the same neighborhood with a pool and a view, then in the Mountain View area I fell in love with the Mid Century Modern with the Frank Lloyd-Wright flat roof and sea of windows and the elegant vaulted ceilings and country flavor of Las Canoas Road. The last home, in the Mesa, on the tour reminded me of my time in Long Island NY – it looked like a traditional house in the Hampton’s with the full cedar shake exterior and cool whites and crisp blues on the interior. I am going to love selling homes in this amazing part of the world.

There are some historical landmarks that make Santa Barbara unique. The Santa Barbara Courthouse is a combination of Spanish and Moorish influence and was rebuilt after the earthquake of 1925.

The Santa Barbara Mission, the 10th of the California missions, the Santa Barbara Mission was founded by Franciscan Friar Fermin de Lasuen on the Feast of St. Barbara, December 4, 1786.

The Presidio was opened on April 21st, 1782 – this was the fort erected to protect the town. It was the last of four military outposts protecting the California shores.

The architectural feature in the all of the above landmarks is the stone architecture that showcased the artisans of the day. The sandstone arches, sculptures and winding walls are featured in Churches, banks, schools and in personal homes, along with the traditional white washed stucco and red clay roofs.

The architectural influences in Santa Barbara are vast; from the original adobe style huts by the Chumash Indians, the Spanish influence of early explorers, to the traditional English of Cape Cod, Tudor to the ultra modern “glass house” in Montecito recently featured in the Santa Barbara Magazine. Major events in Santa Barbara history also helped to dictate the architecture. The powerful earthquake of 1812 that measured 7.1 and the tsunami that followed destroyed the Santa Barbara Mission and most of the town. That is when wood construction replaced the traditional adobe clay of the native Indian population. Following the June 29th, 1925 earthquake that took our Courthouse along with most of the town, created an architectural reform and unification. “For the first time in California and perhaps American history preservationists, planners and aestheticizers had gained control of a city and were refashioning it to their purposes” Californian historian, Kevin Starr.

The uniformed style of choice was the Spanish Colonial Style which encompasses; Mediterranean Revival, Mission Revival, and Californian. The features include: white stucco, low pitched clay tiled roofs (Spanish barrel or Roman pan and barrel), porticoes, pediments, colonnades and terracotta accents. You will  not see any sky scrapers in the Santa Barbara skyline – the city planners and zone ordinances have seen to that! George Washington Smith is one of the most notable architects of that time in both Santa Barbara and Montecito. He is responsible for: El Hogar (1916), Casa del Greco (1920) and Cas del Herreo in Montecito.

The California Bungalow and Craftsman styles of homes were built from 1905 – 1930. They feature built ins – of shelving, seating and cabinetry they were known for space efficient floor plans. The Greene brothers, Charles and Henry are often credited for inspiring Americans to build these one and one-half story bungalows. To view styles of California Bungalows – click this link.

Well, love at first sight, definitely describes the architecture of the Santa Barbara city scape. I will be focusing on different neighborhoods throughout Santa Barbara, Goleta and Montecito in upcoming blogs. If there is a topic or anything in particular that you would like to hear more about – please let me know!

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Technology and the Cavewoman: Where is the Balance?

Posted on March 6, 2011 by Wendy

Wow, where do I start? When I spoke professionally at conferences across Canada my number one requested keynote presentation was: “Stress and the Caveman; 7 Ways to Beat Stress Caveman Style!” -click here to see demo video

In this presentation my premise was that we are so wrapped up with all of this new technology that we have forgotten how to communicate on a daily basis with our family, friends and people in general. I professed the evils of the cell phone, the “borg implant” in the ear, talking on your phone in the stall in the bathroom (really?), and witnessing people walking down the street side by side with cell phones attached to their heads as they go – not talking to each other. I also remember very clearly that when we lived in Long Island NY we went to a very cool Indian restaurant with our daughter Sarah at the table across from us was a family with 3 children; they all sat at the table playing games and texting rather than having a sit down meal sharing the events of the day – wow! The other day as my husband Paul and I were walking home from dinner I was on my cell phone talking to our daughter Sarah and he was talking to one of his board members….BUSTED!!!!

Now I am getting back into the Real Estate game where high technology is not an option but an integral part of a successful business. So, how will this cave woman at heart compete in the world of iPads, droid phones, and the infamous Jawbone ear implant (I have most of these things already – just waiting for the new iPad!). I need to think about this now and lay some ground rules to supply the best service to each and every client but also remain true to the human condition. I love talking with people face to face, going to dinner with family and friends without the interruption of the phone.

Here are the ground rules that I will make today to keep current and be available to all my clients without jeopardizing my core beliefs of being a people person:

RULE 1: I refuse to answer my cellphone if I am on the pot – there is just something so wrong about that! I have been in a stall next to a person who did that she said “Hello” so I said “Hello????” then I got to listen to a full one-sided conversation – not going to happen! This also happened to my husband standing side by side as men do when the person looking down started talking he had an ear implant in – awkward!

RULE 2: I will refrain from answering my phone when I am eating dinner - I find this very rude – you are enjoying your meal and wonderful conversation with your favorite couple then one of them gets a call and all conversation stops while we listen to them or they physically have to leave the table. I will only do this if it is  it is an offer/counter offer situation and time is of the essence – I promise!

RULE 3: I will not take business calls while I am hiking, walking the beach or surfing (that would be a challenge) or when I am with you when I am doing a listing presentation or a buyer interview! – I want to enjoy the nature of Santa Barbara – to take it all in! I want to preserve my cave woman time in sunlight and nature – I am walking my territory and reminding myself of the beauty that God has made – me time! I want to be fully present with the real live person and not feel anxious about missing a call.

RULE 4: I will walk neighborhoods, knock on doors and talk to people about Real Estate face to face – (when I have my full Real Estate license) This meets so many of my cave woman needs. Walking outside, learning about the neighborhood and talking with people directly about their Real Estate dreams. Yes, I may get the odd door shut in my face – but the benefit out weighs the detriment. I have done this before – in -30 so I think this will be better!

RULE 5: I will take every Friday afternoon and Sunday morning off and at least one 2 week vacation per year! This is one thing that I have really learned in my Real Estate career. I understand the value of time off for self preservation and to be a better professional to my clients. If I cannot look after myself how can I possibly look after others well. If I am stressed, rushed, feeling sluggish – I will make mistakes, I will be late for appointments, I will even forget appointments! These are very costly decisions and I will lose business over them. I will partner with  a competent reliable Realtor to look after my business and I will do the same with them. That way we can enjoy our time away knowing that our clients are well looked after and that our commissions are safe.

Well, there are my ideas on how to keep the cave woman alive while being a top notched trusted professional as well. I will remain true to the technological advancements that will make my job easier and service the clients with the utmost care and not make a promise I cannot keep. I rather always under promise and over deliver.

I would love to hear your comments on this blog and please share any other ideas you may have on keeping your inner cave person alive and well!

If you would like your very own copy of my DVD – “Stress and the Caveman; 7 Ways to Beat Stress Caveman Style” click here for link

 

 

 

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Short Sales – Misnomer!

Posted on March 3, 2011 by Wendy

I have just completed my course and passed my exam to earn my Short Sale Specialist Designation for California. As many of you know I had a very successful Real Estate Career for over 12 years in Edmonton, Alberta, Canada. Now, I am not a licensed Realtor here yet still jumping through some paperwork hoops, but the more I learn and can share the better! If you are interested in learning more about the completely misnamed Short Sale (should be called Really Long and Frustrating Sale) read on…
As we are all well aware the financial crisis here in the US and many parts of the world has taken its toll on many people who own property, 1 in 400 homes received foreclosure notices in April 2010! There are options to foreclosures that do not leave the scars on your credit rating and future home ownership. If you cannot complete a loan modification with your lender you may qualify for: Home Affordable Foreclosure Alternatives Program (HAFA) providing home owners with the options of a Short Sale or Deed in Lieu of Foreclosure (DIL). This program creates a standard for a proper process and it sets minimum performance timelines for you and the lender to follow. There are standardized documents to be completed and filed and in the end releases you, the borrower, completely from any future liability for debts. It also provides incentives both to you and the lender.

You must first qualify for the program: the home must be your principal residence; your mortgage must be a first lien mortgage before January 1st, 2009; your mortgage is either in delinquent status or default is coming; the current unpaid balance of your mortgage is $729,750 or less; your total mortgage payment exceeds 31% of your gross income. There are also benefits both to you as the borrower(owner) and to the servicer (lender): you avoid foreclosure; you are fully released from future liabilities; the lender cannot charge you for any administrative costs incurred during the process; you receive a financial incentive of $3,000 to help with relocation and the lender can either waive your payments or reduce payments during either the short sale or deed in lieu of foreclosure process. The lender also benefits: short sale and DIL are both less expensive than a foreclosure process; there is a standardize process with documents in place; they can use your previous financial information from the loan modification process; the lender will receive $1,500 to help offset costs of the administration of the process.

The disadvantages are: the amount of debt forgiven by the lender may be treated as income for taxes – under the current laws forgiven debt cannot be taxed until the end of 2012 and the lender will report your final outcome to the credit agencies settled for less than full payment. The process is mirrored if your original loan was insured by a government program only the forms and some benefits differ.

If this becomes an option for you in your current situation make sure that you hire a Realtor that has his/her Short Sale Specialist designation. This will really help with the documents needed and the relationship between you, the lender and the Realtor/Broker. The process is usually lengthy as the lender has a minimum acceptable net proceeds in order for them to accept an offer to purchase. The offeror must be pre-approved with a commitment letter from their lender, provide proof of funds to complete the transaction, a complete offer to purchase contract all signatures, contingencies and other terms outlined including Real Estate commission. The Request for Approval of Short Sales (RASS) form must also accompany the offer. Now where the length of time really kicks in is here due to the process of approval or disapproval of the sale. The lender has 30 days to respond whereas when you are offering on a non-short sale or foreclosure property you find out within a very short time (from immediate to maybe a few days depending on the circumstances) if your offer is accepted or not.

This is just a short synopsis on some of the things that I have learned in the arena of short sales and deeds in lieu of foreclosure. It is just good to know that there are other options out there to help you through these tough times.

If there is a particular topic you would like me to report on please let me know!

 

 

 

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Santa Barbara’s first forum on World Issues

Posted on March 1, 2011 by Wendy

This was an inaugural event hosted by the Santa Barbara Institute on World Affairsheld on Saturday, Feb. 26th. Mr. Ted Tedesco who is the founder of the new institute assembled an amazing group of talented speakers from our very own UCSB. Being in the Santa Barbara Real Estate industry I was very curious to hear what these leaders thought about our global economy over the next 10 years. I found out about this event from a dear friend that belongs to Santa Barbara Newcomers. As the fearless leader of our Monday, Wednesday and Friday East Beach walking group I took the invitation to heart and so did about 20 others in our group! The event was held at the historic Lobero Theater a wonderful backdrop to this take on the future of our global world with coffee and pastries to greet us. The assigned seating was a bit confusing as we couldn’t register together this was a concern expressed by many attendees that will be addressed for the next event. Just before we entered we met a wonderful couple, Pia and Andrew – but who attracted us to them was little daughter Abigail. I thought it was amazing that they brought their baby to this type of event – they are from Australia and have lived in Santa Barbara for 9 years. When Ted Tedesco introduced the event the first person he thanked was the woman we had met, Pia Dorer of Davies PR!
The keynote opening address was given by Mark Juergensmeyer who is the director of Orfalea Center for Global & International Studies/Professor, Global & International Studies; Sociololy and Religious Studies at UCSB. Mark talked about globalization and the three problems that would need to be solved: 1. Sovereignty, 2. Accountability and 3. Identity. So, how would a country maintain its sovereignty in a global economy, who would they be accountable to and how would they maintain their individual identities? We were reminded how much has changed in the last 10 years with the advancement of social networking with Facebook, twitter and cell phones. The changes in exporting just by looking at the labels in our clothes we have to be cognicent of where the labor is located in this global economy. This was the kick off to the speakers to come..Richard Appelbaum Professor of Sociology and Global & International Studies/Co-Principal Investigator, Center for nanotechnology in Society talked about labor, science and technology and particularly the involvement of China as a wave for the future in these areas. With regards to labor China has been called the worlds sweatshop. Most workers in the lower level factories are women working for low wages and many hours. They create the clothing, furniture and technology we enjoy today. Mr. Appelbaum cited one plant Foxxconn Factory that employs over half a million people in one company! Walmart and Apple are just some of the American names that we recognize that utilize the Chinese factories to create their products. China has done an amazing job educating their own in the US and other countries and then having them come back to China to continue their research with large grants, housing supplements and decent salaries. The government helps support all of the emerging export markets to take them to the next level. Richard coined the phrase “indigenous innovation” which would be the next step for the Chinese where they will develop products and services themselves and sell to their own markets in addition to their large export business. In the next 10-15 years this innovation may decrease the need to export to the US at all due to their large population base. The last idea that Mr. Appelbaum left us with is that we are not likely to go to war with a country that we are economically attached to.

Our next speaker was Mr. Michael Curtin addressing: After Hollywood; New Patterns in Global Media. Curtin is a professor of Film and Media Studies at UCSB. The largest producers of film media are Hollywood, Hong Kong, Mumbai, Miami, Lagos and Dubai all port cities around the world. “Bollywood” actually produces the most films of any other media film producer in the world. As far as what is next in the media industry Michael felt that screen media would have to fulfill the idea of being dream factories driving our imaginations.

The event then went on to have Cynthia Stohl a professor of Communications at UCSB look into the paradoxical reflections on Global Connections and organizing the future. Ms. Stohl began her talk with a quote: “Prediction is very difficult, especially about the future!” Neils Bohr. This reminded all of us that we cannot predict the future only share our ideas based on what we experience. The new communication era of social marketing has changed how we communicate globally. Through these venues we can talk to and see people from around the world in an instant – this has to change how organizations work. Ms. Stohl felt that the global network organization must be flexible, have linkages with no boundaries, it must be highly sophisticated with information and technology. This reminded me of our 3 year old grand daughter that said to me on the phone…“Baba, just skype me next time!” Callia Goretzky. Wow how communication has changed! Cynthia then shared some interesting websites to investigate: market2market.com, timebanking.com different ways of doing business.

The last speaker that I was in attendance for was Benjamin Jerry Cohen with the Global Future of Money. The first thing that Mr. Cohen reminded us was that money is psychological and we have to discuss price versus value. There are many forms of currency not just the dollar but air miles are now a form of money. The acceptability of money is also important each country has their own form of currency and you need to use what is acceptable in that country. The European Union has tried to standardize money with the Euro – but who has the power? There will not be a global currency in our life time or the life time of our children or grand children the power of that money will stop it in its tracks. Even though this would be very convenient, it will not happen.

This was a great event that will be available via podcasts on the website www.sbiwa.org and another event will be organized for the fall – I will be in attendance!

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