November sales and price report

November sales and price report

For release:
Tuesday, Dec. 22, 2009

C.A.R. reports November home sales increased 4.7 percent; median home price increased 5.8 percent

Multimedia:
· Click here to view a data table comparing peak prices and current prices in areas throughout
the state

Quick Facts:
· Existing, single-family home sales increased 4.7 percent in November to a seasonally adjusted rate
of 536,720 units on an annualized basis.
· The statewide median price of an existing single-family home increased 2.4 percent in November to
$304,520 compared with October 2009.
· C.A.R.’s Unsold Inventory Index fell to 4.5 months in November, compared with 7.1 months in
November 2008.

LOS ANGELES (Dec. 22) – Home sales increased 4.7 percent in November in California compared with the same period a year ago, while the median price of an existing home rose 5.8 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

http://www.car.org/newsstand/newsreleases/novsalesandprice/

A buyer asked me whether he should buy. He should buy when he is ready to buy!

More Wealthy Default on Their Mansions The sub-prime crisis has turned into the super-prime crisis. Homeowners with mortgages of more than $1 millio

More Wealthy Default on Their Mansions

The sub-prime crisis has turned into the super-prime crisis.

Homeowners with mortgages of more than $1 million are now defaulting at nearly three times last year’s rate, according to a Bloomberg article.

Payments on about 12% of mortgages exceeding $1 million were 90 days or more overdue in September, up from 4.7% a year ago and well over the 7.4% default rate for U.S. mortgages as a whole. There are 114,000 home loans of more than $1 million.

“The rich aren’t as rich as they used to be,” Alex Rodriguez, a Miami real estate agent, was quoted as saying. “People have reached the point where they can’t afford the carrying expenses of a $2 million home.”

Or maybe the people who got $1 million mortgages weren’t rich to begin with and shouldn’t have gotten $1 million loans. Either way, short sales of pricey homes are becoming more common as more mansions go underwater.

“You are just starting to see the tip of the iceberg with luxury short sales,” said Adrian Heyman, owner of Property Advisors, a real estate broker in Scottsdale, Arizona. “A lot of wealthy people are upside down in their mortgages, and they just can’t afford the second or third vacation home anymore.”

The statistics suggest that for all the talk of stock-market rebounds and green shoots since early summer, the rich are still facing a cash crunch. And it shows that the wealthy - or aspirational wealthy — engaged in the same kind of leveraged-up, overbuilt lifestyle as the rest of the country.

Most importantly, it means that hopes that the rich will lead the country out of the real-estate crisis may be ill-founded. The wealthy will start buying real-estate when they stop defaulting.

Why do you think the wealthy are defaulting at such a high rate? Or are they?

http://blogs.wsj.com/wealth/2009/12/18/more-wealthy-default-on-their-mansions/?mod=rss_WSJBlog

The wealthy will only buy a property that they considered it a big discount, a real 'BARGAIN' to them.

REALTOR® Statistics

REALTOR® Statistics

Hours worked by all REALTORS® (nationwide): 40 per week

Gross personal income by hours worked: $51,900 (median for 40-59 hrs.)

Percent of business generated by REALTOR® personal web site (all REALTORS®):

• Zero: 36%
• Over 25%: 12%

Real estate experience of all REALTORS® (median): 10 years

REALTORS® by gender: Male 40%; Female 60%

Formal education of REALTORS®:

• Some college: 34%
• Associate degree: 12%
• Bachelor's degree: 26%
• High school graduate: 8%
• Graduate degree and above: 10%
• Some graduate school: 8%

Sides per agent: For all REALTORS® in 2008, the typical brokerage specialist completed 7 transaction sides or commercial deals

Median tenure at present firm (all REALTORS®): 5 years

REALTOR® affiliation with firms:

• Independent contractor: 82%
• Employee: 6%
• Other: 12%

Source: 2009 National Association of REALTORS® Member Profile

2010 CAR Housing Market Forecast.

CALIFORNIA ASSOCIATION OF REALTORS®

2010 California housing market forecast. The video from C.A.R. featuring C.A.R. Chief Economist Leslie Appleton-Young .http://www.youtube.com/watch?v=JZpt0wptj3I

2010 Economic Forecast

Source: www.youtube.com

CALIFORNIA ASSOCIATION OF REALTORS®
Chief Economist Leslie Appleton-Young presents the 2010 Economic Forecast.

We can not see into the future but we can at least watch and try to understand the indicators.

In Depth: America's Most Expensive Cities Behind the Numbers To determine the U.S. cities where the cost of living is highest, the London office of

America's Most Expensive Cities 2009


Forbes staff


Oct 15th, 2009


Behind the Numbers

Earlier this year, the London office of Mercer, an American human resources consulting company measured the prices of the same basket of goods in 253 of the world's cities to determine where the cost of living is highest. Over 200 products are selected for the basket as representative of executive spending patterns and including everything from rent for a luxury apartment to the cost of a fast-food hamburger. Mercer chose a sampling of U.S. cities to measure, the ten most expensive of which are listed here.

http://realestate.yahoo.com/promo/americas-most-expensive-cities-2009.html

New York tops a recent list, Los Angeles comes in at second place, White Plains, N.Y.#3, San Francisco, Calif #4,
Location has a lot to do with why New York and Los Angeles top the list.

In Depth: America's Most Expensive Cities

Real Estate America's Strange Homes For Sale

From Forbes Magazine:
By: Francesca Levy, 10.13.09, 06:00 PM EDT
These are not cookie-cutter colonials. Instead, in some parts of the country, cliff-side compounds and remodeled lighthouses are being listed.
image

Sneak A Peek: America's Strange Homes For Sale

Brazillian Beachside Box House

Very modern and beautiful house at the beach on an island in Brazil Brazil. It's so in tune with the surrounding beach area.


The architects involved in the project were Marcio Kogan, Suzana Glogowski, and team of Beatriz Meyer, Eduardo Glycerio, Gabriel Kogan, Lair Reis, Maria Cristina Motta, Mariana Simas, Oswaldo Pessano, Renata Furlanetto, ad Samanta Cafardo. The interior design team included Diana Radomysler and Carolina Castroviejo.

Photos by Nelson Kon.

http://www.marciokogan.com.br/

ShelterPop

Strongest U.S. ZIP Codes.

San Diego:


Strongest U.S. ZIP Codes
Cyberhomes
This Home:
11404 Village Ridge Road,
San Diego, Calif. - $396,891
92131: San Diego, CA

Median Sales Price: $571,250
Annual Change: +61.4%
Compared to: San Diego-Carlsbad-San Marcos Area
Median Sales Price: $285,000
Annual Change: -1.4%
Differential: 62.8%

Things finally look like they might be turning around in the San Diego area. Sales numbers and prices advanced in many mid-high tier zip codes, with high-end areas in San Diego and La Jolla leading the way with the largest annual gains.




This Listing:
12843 Prairie Cir, Corona, Calif. - $325,000
92880: Corona, Calif.
Median Sales Price: $340,000
Annual Change: -11.9%
Compared to: Riverside-San Bernardino-Ont., Calif.
Median Sales Price: $157,000
Annual Change: -39.6%
Differential: 27.7

Almost everywhere in Southern California’s Inland Empire prices are still falling hard, but the blow is starting to soften in some mid-high tier areas such as Corona and Palm Springs.

High End Homes.

Googled High End Homes and I found several interesting articles over time...

High-End Home Sales Push Up Median Price

By Dick Turpin
March 15, 1987

For the first time ever, the median price of the storied American home has topped the $100,000 mark.

Strong sales of high-end new homes during January, particularly in the Northeastern states, pushed the median to $100,700, passing the previous record of $94,600, set only last December. About 11,000 of the 53,000 new dwellings sold were in the Northeast, nudging aside the usual leader, California. The two areas currently represent the nation's hottest real estate markets.
....................

The annualized rate of sales of existing single-family homes dropped 32.9% from the December totals, from 653,086 to 437,970. However, resales were still up 13.3% from January of 1986.

California's median resale price dropped 3.1% in January to $126,532, down from December's $130,565.

For the Los Angeles region, the median was $126,407; Orange County, $152,438; San Diego region, $119,603; Riverside and San Bernardino counties, $93,255.

http://articles.latimes.com/1987-03-15/realestate/re-10567_1_median-price

-----------------------------------------------------------
The Boston Globe
HIGH-END HOME SALES ON INCREASE HOUSE, CONDO PRICES UP; SLIGHT SLOWDOWN SEEN
The Boston Globe (Boston, MA) | November 10, 1999| Bruce D. Butterfield, Globe Staff | Copyright 1999 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information) Copyright

It's barely a hole in the ground. But the area's latest condominium development in Brookline - with units ranging from $475,000 to $1 million apiece on Longwood Avenue - is half sold already, with nearly a year to go before anyone can move in.

A few blocks away at 1160 Beacon St., another luxury condo project under construction is two-thirds sold, developers say, despite prices starting at $600,000.
High-end housing, condominums and single-family homes alike, throughout Greater Boston. Average selling prices soared more than 23 percent for both categories in the third quarter..

http://www.encyclopedia.com/doc/1P2-8575537.html

-----------------------------------------------

High-end home sales soar in Bay Area
Feb 16, 2008 ... High-end home sales soar in Bay Area. Articles. What real estate slump? The Bay Area's rich are still snapping up high-end properties for ...

www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/16/...

Psychological Effect Of Buying Foreclosure.

Some Foreclosure Buyers Feel Guilty
Foreclosure guilt is affecting some people who can afford to buy low-cost properties even though friends and family haven’t been so lucky.

As Anya Sanko who bought a foreclosure in Las Vegas says, there's a hard-to-shake worry that "you're capitalizing off of somebody else's misfortune."

Some people dismiss this as unwarranted drama, but Santa Fe psychologist Sylvia Lafair thinks that “there is a guilt of survivorship that is real.”

Lafair has provided counseling for real estate practitioners who say clients express this concern.

Lafair recommends that people ease their pain by doing something kind for those less fortunate. “My recommendation is that when you're moving, take (your) old stuff and say, 'Do I really need this?' and give it to a shelter or the Salvation Army. One way to balance the guilt is to do something to be gracious," she says.

Source: USA Today, Steve Friess (08/27/2009)

http://www.realtor.org/rmodaily.nsf/pages/News2009082804

IMHO: Anyone with a heart and soul would have a feeling for another human being, a family who have suffered or are suffering from the loss of their homes and and part of their livelihood.

As an agent who is very busy and who is showing these REO and Short Sale properties to clients over and over again in this last year; I have an overwhelming and mixed emotion regarding the whole situation.

Everytime I show a home to my client, I usually feel so sad that a family used to live there and called it their home. One can not try to NOT to feel it.

However I am also doing my job for my client by trying to find the best home with the best price and the best location for them. If that home is the one they like then I will help them attain it.

Not to be selfish but I justified my feeling by telling myself and a few of my good clients (who are now my friends) that no mattter how sad I am for the past owners, now I am bringing a new family and a new joy and happiness to the home.

Peace & Love to all.

Short Sale Saga Continues

Escrow on Azalea finally closed today. What a wonderful feeling.

Getting Cedar River Court SS approval this week. Went to clean up the messes today. Too bad this process took so long, the lawn is brown and one of the trees is dead.
The house still looks so nice inside. Now I hope the buyer is still interested after all those months.

I might have to get another client that have been looking for home for 3 months to go and submit an offer on it. The only problem is that they want to live in Murrieta and not SUN CITY. Although Sun City and Menifee is growing nicely. A new Loma Linda Medical Center (Hospital) is being built and the facility is coming along together really quickly.

I got dizzy in the last few days and earlier today from reviewing the 20 offers for Camino Nunez home. I love it though.......... Although I feel sorry for the buyers and the agents when I have to reject their offer. (See early posted Blog yesterday)

The Shoe is on the other foot!

I wrote on the blog several weeks ago about the Short Sale and REO offers that I submitted for my clients in this last several months. I wrote that my buyers were as frustrated as I was since we never heard back from too many of the agents for those listings. (especially the ones in Corona)

Now the shoe is on the other foot.

I have a brand new Short Sale listing that I put on the MLS and 3 days later we received over 15 offers (ONLY 15?)

Although I plan to review all these offers with my seller, we are planning to submit the one and only 'best and highest' to the lender and we will probably send about 3-4 offers as 'back ups'.

I feel so bad because only one of those offers will be accepted by the Lender.
My buyers were disappointed, I was disappointed (and overworked)


However, now that I have the same situation happens to me as listing agent; although as busy as I am, I replied to each and everyone of the agents that I received their offers. I told them that I plan to review the offer with the sellers and let them know of the latest update.

That is the least I can do to provide the feedback to the buyers and their agents.
It takes a little more work, but I am running a business.

Best Regards,
Jieranai

According to Forbes Online, Kansas City metro area tops our list of America's Abandoned Cities. In Kansas City, rental vacancy rates rose from 11.9% to 15% over the past year; homeowner vacancy rates nearly doubled, up from 2.1% to 3.8%. Comparatively, the average homeowner vacancy rate in the country's 75 largest metro areas improved slightly from 3% to 2.7%, while the rental vacancy rate edged up to 10.2% from 10% a year ago.


Second on our list is the San Francisco-Oakland metro, where high prices are pushing Bay Area residents out of the region. Third is Tucson, Ariz., where the aftermath of the housing boom has left a glut of inventory. The pair's predicament illustrates both sides of the vacancy coin.


3. Tucson, Ariz.
Tucson, Ariz.
Homeowner vacancy rank: 53 of 75
Rental vacancy rank: 71 of 75


4. Dayton, Ohio (tie)
Dayton, Ohio
Homeowner vacancy rank: 74 of 75
Rental vacancy rank: 49 of 75

8. Miami, Fla.
Miami-Fort Lauderdale-Miami Beach, Fla.
Homeowner vacancy rank: 70 of 75
Rental vacancy rank: 48 of 75

11. Seattle, Wash. (tie)
Seattle-Bellevue-Everett, Wash.
Homeowner vacancy rank: 45 of 75
Rental vacancy rank: 69 of 75

14. San Jose, Calif.
San Jose-Sunnyvale-Santa Clara, Calif.
Homeowner vacancy rank: 52 of 75
Rental vacancy rank: 57 of 75


Read on for more lifestyle coverage, from the best downtowns for empty-nesters to the Forbes Luxury Housing Index.


http://www.forbes.com/2009/07/23/vacancy-homes-rents-lifestyle-real-estate-vacancy-cities.html?feed=rss_forbeslife_realestate

Bank Shut Down.

Is Your Bank In Danger of Failing?

FIFTY SEVEN. 57 banks have failed already in 2009. That's double the number that failed in all of 2008! No matter what anyone tries to tell you, we still have a scary and serious banking problem on our hands.

The worst may be yet to come. The FDIC maintains a list of "problem banks." That list skyrocketed to 305 banks! Wondering if your bank is on the list? Of course you are. Too bad the FDIC keeps the list a secret!

But, all is not lost. We're going to show you a few simple steps you can take now to ensure the money you have in the bank is safe.
http://www.dolans.com/article/59951/57th-Bank-of-2009-Fails-Take-These-Steps-Now/

The two most prominent banks in the Inland Valley, were shut down
Temecula Valley Banks demise noted locally and nationally
Bookmark
Print

Tim O’Leary and Margaret Singleton
Valley News Staff

Friday, July 24th, 2009.
Issue 30, Volume 9.

Temecula Valley Bank – which charted a meteoric rise into the regional business stratosphere – crashed back to Earth last week when it was shut down by federal regulators and absorbed by a North Carolina-based bank.

The takeover, one of four that triggered nationwide media coverage, marked a final chapter for a homegrown bank that attracted enthusiastic investors, directors and depositors when it opened in fast-growing Temecula.

The bank’s demise also drew widespread scrutiny and reflection among the local banking and business community.

“It’s a sad day for the shareholders, employees and the communities that TVB served,” Gary Votapka, president of Mission Oaks Bank, said in an e-mail statement sent to a reporter Monday afternoon. “It’s not good for banking either, but such are the times…”

After starting out small and building on its local roots, Temecula Valley Bank quickly grew to 11 branches throughout Riverside, San Diego and San Bernardino counties. Local branches operated in Temecula, Murrieta and Fallbrook. Others had been established in recent years as far away as Ontario, El Cajon, Corona and Carlsbad.

Temecula Valley Bank’s fall was not the first to rock the local business scene. Early this year, First Centennial Bank of Redlands, which had a branch in Temecula, was seized and is now a unit of First California Bank, which is based in Westlake Village.

The collapse of the two banks – which both flanked Jefferson Avenue on Temecula’s west side – brought the number of bank closings in California this year to eight, according to the Associated Press.

That AP story – which focused on last week’s closure of Temecula Valley Bank and three others across the country – said the 57 bank failures nationwide this year compare with 25 last year and three in 2007.

For years, Temecula Valley Bank highlighted its community roots and financial backing. In fact, Temecula Valley Bancorp’s 2007 annual report boasted “Strength + Flexibility = Success.”

Many of its board of directors at that time were original founders and investors back in 1996. That annual report listed more than 100 founders and investors, most from the Temecula and Fallbrook areas. The list included the names of many high-profile local business and government leaders.

Stephen H. Wacknitz – who served as the bank’s president, chief executive and chairman of the board – was one of its organizers. He was the focus of newspaper headlines late last year when the bank announced his abrupt retirement.

Frank Basirico replaced Wacknitz as the bank’s chief executive. At that time, he told a reporter that the bank was “retrenching to the communities where we have those roots.” That change in direction resulted in the closure of the bank’s out-of-state Small Business Administration loan offices, a move that triggered the elimination of 36 staff positions.

Much of the bank’s demise was blamed on heavy losses from its portfolio of real estate development loans. In June, bank officials announced a tentative deal to inject up to $210 million in the troubled institution. But that effort fell through about a month later, as the Manhattan Beach-based investor group withdrew that anticipated fund infusion.

Temecula Valley reopened Monday as branches of First-Citizens Bank and Trust Co., according to David Barr of the Federal Deposit Insurance Corp. Temecula Valley Bank depositors automatically became depositors of the new owners and continued to be insured by the FDIC. On Wednesday, branch representatives were answering phones using a combination of the banks’ names.

First-Citizens Bank and Trust Co. – which is based in Raleigh, N.C. -- agreed to purchase essentially all of Temecula Valley Bank’s assets and all deposits, except for about $304 million in brokered deposits. Temecula Valley Bank had $1.5 billion of total assets and approximately$1.3 billion of total deposits as of May 31, Barr said. He estimated that Temecula Valley Bank’s failure will cost the FDIC’s Deposit Insurance Fund $391 million.

FDIC's Deposit Insurance FUND?

Tea Party time...

http://www.myvalleynews.com/story/39461/

Buyers' Market?

Buyers' Market? Depends where it is.

Two months ago, for a span of about 4 weekends. I showed about 25 to 30 homes to my clients in Corona. (Some homes we saw it twice or three times). They have impeccable taste and selected a great location to shop for their dream home. (West Corona below I-91, near Green River Road and the Canyon areas)

They were using Realtor.com to search for homes for sale. They sent me several long list of homes which I looked up on the MLS and promptly found 1/3 of that were already PENDING or SOLD!

I registered them on my Listingbook.com and told them to search there and to avoid the 'P' for Pending.

For several weekends they called me and I would drive over to meet them and showed them around. Many of the homes that were REOs were all sold quickly. Most homes that were left on the market with signs infront of the homes were mostly Short Sale.

When we drove around, we saw many homes with for sale signs but there were no brochures in the boxes, some sign posts did not even have the boxes for the brochure.

Many of the signs are just plain FOR SALE signs. My buyers insisted that I call the agents. Many of the calls I made were to the agents of the homes that either were Pending or already SOLD. THEY DID NOT HAVE ANY SIGNS INDICATED the CURRENT STATUS. WHAT A WASTE of time and my money for those cell phone calls. To have the agents said 'SOLD' or 'PENDING' when I called really irritated us.

Several of those homes with the signs did not have a lock box and if there are lock boxes, there were no codes indicated on the MLS, YOU HAVE TO CALL THE AGENT!. When I called, I got their answering voice mails. I left a message, 1 out of 5 of the agents returned the call, mostly a day after, but the rest - I never heard back from them. Some of the homes indicated on agent's remark on the MLS to call owners of the homes. The same thing happened, NONE of the owners ever call back.

My buyers asked me to write up offers for the homes (that were Short Sale) that they like so I wrote several offers and sent the offers in.

I never heard back from the agents. (Many of those agents were out of towners, many of the agents were local). One agent was very nice and he offered to send the information about all of his listings.

No matter what... In the end, it was quite an effort and much time spent and
it was kind of upsetting to me at the waste of papers that I used to print all of those contracts.

My clients finally decided to get a loan approval from their friend which they did. The friend also happens to have a RE license. The gentleman told them that he has contacts with the bank and he can go through the hoops better thatn I would and they should use him as an agent instead.

Two weeks later my clients called and said he could not get any agents for those Short Sale and REO homes to call him back either lol....

I was laughing out loud to myself and that was quite a stress reliever...

Appraisal

I have had my own bad experiences (3) with Appraisal and I am so glad that it came to light that NAR finally is acting on this sorethumb issues.

One of the property was under $20K the purchase value, fortunately it was a standard sale and the buyer came up with his own $20K to make up for the downpayment and the transaction closed on time.

We are working with another LOW-BALL appraiser on one short sale property. The bank was ready to approve on it until the Lender's appraiser appraised it $3K less than the price on the purchase offer. GEEEEEEEEE!!!

Another property was also a short sale and it was appraised by an out-of-the-area appraiser (San Diego). The property was in Romoland (Sun City). It is in the midst of short-sale and REO properties which were sold around $180K. I had it on the market for $225K, had an offer for $210K.

The appraiser appraised it for the bank for $230K. The bank (Email me for the name) REJECTED the Shortsale approval request and told me to get another offer within 30 days. There is no way that I could get anyone else to submit an offer for even $211K.

30 days later the bank FORECLOSED on the property and sold it to another bank for $230K.

Guess what!! NOW THAT BANK PUT THE REO PROPERTY on the market at $165,000 and it is sold with 13 days for $169K. GO FIGURE why we have so many FORECLOSURE and REOs on the market.

Here are links to several appraisal issue, QUOTED FROM SEVERAL SOURCES:

Voices of Real Estate

All is not quiet on the Midwestern front, Posted by Steve Brown :
Here in the trenches, on the front lines of real estate in Ohio, we continue to face challenges:

First, there is an oversupply of houses, and home values are still in a general decline.

Second, although the average sale price is up, we have unprecedented marketing times and nervous appraisers (or at best very conservative appraisers). With sales nearly 20 percent below the previous year, many appraisers working on behalf of banks are brought in from out of town appraisal companies. They are only familiar with the market through Internet information. As a result, we have appraisals coming in as much as $100,000 below contract sales price – effectively killing the sale.

http://narblog1.realtors.org/mvtype/president/2009/06/all_is_not_quiet_on_the_midwes.html


Appraisal issue coming to a head
NAR calls for suspension of rules governing Fannie, Freddie loans
By Matt Carter, Friday, June 26, 2009.

Inman News
http://www.inman.com/news/2009/06/26/appraisal-issue-coming-a-head

NEXT SHALL WE WANT TO TALK ABOUT THE BANK? oh no, I am getting in trouble now........

Appraiser's

I know that I am not the only one with the appraisal issues.
I have had 2 similar experiences with home appraisal but on the opposite spectrum.

Just the beginning for appraisal 'mess'
Letter to the Editor
By Inman News, Thursday, June 4, 2009.

Inman News
http://www.inman.com/opinion/letter-to-editor/2009/06/4/just-beginning-appraisal-mess

Home » Columnists » Categories
Appraising the new appraisal problem
Letters From the Home Front
By Kris Berg, Wednesday, June 3, 2009.

Inman News

http://www.inman.com/buyers-sellers/columnists/krisberg/appraising-new-appraisal-problem

Latest Economics Report From CAR

The latest report by Robert A. Kleinhenz, Ph.D., Deputy Chief Economist on C.A.R's Economics & Market Trends web site stated that California Median Price Up for Second Month in Row.

Median Price Up for Second Month in Row

The median price of a home in California rose two consecutive months for the first time in nearly two years, beckoning calls for a bottom in home prices. The statewide median price of an existing detached home rose from $253,040 in March to $256,700 in April. The 1.4 percent monthly gain was the second in a row after a 2.2 percent gain in March. Despite month-to-month gains, the median price continued its string of year-to-year decreases, declining 36.5 percent from the April 2008 median of $404,470.

This is a touch of good news but today, the interest rate just gone up and that is not good for the buyers.

Read the whole report here:
http://www.car.org/economics/trendsarchives/markettrendsmay09/

$8000 Tax Credit As Down Payment.

The latest good news :


Tax Credit Can Be Used for Down Payment

U.S. Housing and Urban Development Secretary Shaun Donovan announced Tuesday that
the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

FHA will allow approved lenders and nonprofits, and state and local government agencies to issue short-term bridge loans buyers can use for down payments, Donovan said. Buyers would repay the loans after getting their tax refunds.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

http://www.seattlepi.com/local/406129_FHA12.html

http://www.earthtimes.org/articles/show/hud-secretary-announces-monetization-of,821509.shtml

Temecula Wine Country Estate -

33895 Calle Vista , Temecula 92592
SOLD! $830,000



MAGNIFICENT 6.21 ACRE POOL AND SPA ESTATE! 6 BEDROOM 4.5 BATH CUSTOM HOME
BUILT IN 2003. THIS HOME HAS A VERY PRIVATE SETTING AND BOASTS 6,119 SQUARE FEET. BREATHTAKING VIEWS AND NATURAL LIGHT.

Prestigue Temecula Wine Country in Country Estates Road area.

Blue Chip Neighborhood:

With all the doom and gloom, short sale, REO's all around in my RE areas; it is hard to believe and it is quiet an eye-opener.

According to the latest AOL Real Estate article.
These are areas in the USA with home prices that are still growing
and thriving.


Atlanta Metro Area
Blue Chip Neighborhood:
Atlanta, Ga. (Spring Buford Conn / Peachtree St)
Found Within ZIP Code(s): 30309, 30318
Five-Year Price Growth: 36.50%
Average Price Growth per Year: 7.30%
Median House Value: $710,700


Boston Metro Area
Blue Chip Neighborhood:
Boston, Mass. (Columbus Ave / Massachusetts Ave)
Found Within ZIP Code(s): 02118
Five-Year Price Growth: 91.80%
Average Price Growth per Year: 18.36%
Median House Value: $692,600


Chicago Metro Area
Blue Chip Neighborhood:
Chicago, Ill. (Ravenswood Ave / Melrose St)
Found Within ZIP Code(s): 60657
Five-Year Price Growth: 118.25%
Average Price Growth per Year: 23.65%
Median House Value:$738,200


Cleveland Metro Area
Blue Chip Neighborhood:
Aurora, Ohio (City Center)
Found Within ZIP Code(s): 44202
Five-Year Price Growth: 44.47%
Average Price Growth per Year: 8.89%
Median House Value: $260,100


Dallas Metro Area
Blue Chip Neighborhood:
University Park, Texas (Southern Methodist U / U.S. Route 75)
Found Within ZIP Code(s): 75205
Five-Year Price Growth: 82.57%
Average Price Growth per Year: 16.51%
Median House Value: $547,800


Denver Metro Area
Blue Chip Neighborhood:
Denver, Colo. (Colorado Blvd / 6th Ave)
Found Within ZIP Code(s): 80206, 80209
Five-Year Price Growth: 77.33%
Average Price Growth per Year: 15.46%
Median House Value: $570,000


Detroit Metro Area
Blue Chip Neighborhood:
Birmingham, Mich. (Woodward Ave / Old Woodward Ave)
Found Within ZIP Code(s): 48009
Five-Year Price Growth: 16.77%
Average Price Growth per Year: 3.35%
Median House Value: $779,400


Houston Metro Area
Blue Chip Neighborhood:
Houston, Texas (Del Monte Dr / Kirby Dr)
Found Within ZIP Code(s): 77027, 77019
Five-Year Price Growth: 56.61%
Average Price Growth per Year: 11.32%
Median House Value: $1,727,300


Los Angeles Metro Area
Blue Chip Neighborhood:
Los Angeles, Calif. (Sunset Blvd / Mapleton Dr)
Found Within ZIP Code(s): 90024
Five-Year Price Growth: 95.41%
Average Price Growth per Year: 19.08%
Median House Value: $2,666,800


Miami Metro Area
Blue Chip Neighborhood:
Key Biscayne, Fla. (Crandon Blvd / Harbor Dr)
Found Within ZIP Code(s): 33149
Five-Year Price Growth: 81.47%
Average Price Growth per Year: 16.29%
Median House Value: $1,422,100


Minneapolis Metro Area
Blue Chip Neighborhood:
Eden Prairie, Minn. (Flying Cloud Dr / Pioneer Trl)
Found Within ZIP Code(s): 55347
Five-Year Price Growth: 42.87%
Average Price Growth per Year: 8.57%
Median House Value: $479,200


Minneapolis Metro Area
Blue Chip Neighborhood:
Eden Prairie, Minn. (Flying Cloud Dr / Pioneer Trl)
Found Within ZIP Code(s): 55347
Five-Year Price Growth: 42.87%
Average Price Growth per Year: 8.57%
Median House Value: $479,200


New York City Metro Area
Blue Chip Neighborhood:
New York, N.Y. (71st St / Columbus Ave)
Found Within ZIP Code(s): 10023
Five-Year Price Growth: 132.80%
Average Price Growth per Year: 26.56%
Median House Value: $1,122,200


Philadelphia Metro Area
Blue Chip Neighborhood:
Nether Providence Township, Penn.
Found Within ZIP Code(s): 19063, 19086
Five-Year Price Growth: 97.28%
Average Price Growth per Year: 19.45%
Median House Value: $499,700


Phoenix Metro Area
Blue Chip Neighborhood:
Paradise Valley, Ariz. (Camelback Estates)
Found Within ZIP Code(s): 85253
Five-Year Price Growth: 71.89%
Average Price Growth per Year: 14.37%
Median House Value: $1,532,500


San Diego Metro Area
Blue Chip Neighborhood:
Coronado, Calif. (Silver Strand Blvd / Avenida Lunar)
Found Within ZIP Code(s): 92118
Five-Year Price Growth: 105.10%
Average Price Growth per Year: 21.02%
Median House Value: $1,504,500


San Francisco Metro Area
Blue Chip Neighborhood:
San Francisco, Calif. (3rd St / 20th St)
Found Within ZIP Code(s): 94107
Five-Year Price Growth: 99.92%
Average Price Growth per Year: 19.98%
Median House Value: $953,300


Seattle Metro Area
Blue Chip Neighborhood:
Seattle, Wash. (Aloha St / 17th Ave)
Found Within ZIP Code(s): 98112
Five-Year Price Growth: 75.08%
Average Price Growth per Year: 15.01%
Median House Value: $1,044,900


St. Louis Metro Area
Blue Chip Neighborhood:
Clayton, Mo. (Brentwood Blvd / Forsyth Blvd)
Found Within ZIP Code(s): 63105
Five-Year Price Growth: 37.70%
Average Price Growth per Year: 7.54%
Median House Value: $583,000


Tampa Metro Area
Blue Chip Neighborhood:
East Lake, Fla.
Found Within ZIP Code(s): 34685, 34689
Five-Year Price Growth: 108.24%
Average Price Growth per Year: 21.64%
Median House Value: $546,300


Washington, D.C., Metro Area
Blue Chip Neighborhood:
Washington, D.C. (Rock Creek Pky / Massachusetts Ave)
Found Within ZIP Code(s): 20008
Five-Year Price Growth: 106.76%
Average Price Growth per Year: 21.35%
Median House Value: $1,619,200

http://realestate.aol.com/home-values/blue-chip-neighborhoods

I keep hoping that Riverside County would show up,
alas no, not yet. May be next year..............

C.A.R. Housing Affordability Fund Mortgage Protection Program

ANNOUNCEMENT FROM CALIFORNIA ASSOCIATION OF REALTORS.

On Thursday, April 2, C.A.R. will launch a new program designed to provide peace of mind to first-time buyers who are hesitant to enter the housing market due to concerns about potential job loss, and subsequently being unable to meet their monthly mortgage obligations.

Through the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP), first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage payments. A qualified co-buyer also can participate in the program, for a reduced monthly benefit of $750 per month for up to six months in the event of a job loss. Program benefits also include coverage for accidental disability and a $10,000 death benefit. C.A.R.’s Housing Affordability Fund is dedicating $1 million to the program this year, and estimates that as many as 3,000 families will benefit from the program throughout 2009.

To qualify for the Mortgage Protection Program, applicants must:

. Be a first-time home buyer – someone who has not owned a home in the last three years
. Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009
. Use a California REALTOR® in the transaction
. Purchase the property in California
. Be a W-2 employee (cannot be self-employed or military personnel)

First-time home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®.

The Mortgage Protection Program is a proactive approach by C.A.R. to address consumers’ concerns about the real estate market and their ability to make their mortgage payments should they loose their jobs. I encourage you to take full advantage of this new program by sharing information about the C.A.R.H.A.F. Mortgage Protection Program with your clients. There is no cost to either you or your clients to participate.
http://www.car.org/aboutus/hafmainpage/

The Most Expensive Home For Sale.

Spelling Mansion on Market for $150 Million
By: Diane Tuman, Zillow Content Manager March 27, 2009






Located in the Westwood section of LA at 594 S Mapleton Dr, Los Angeles, CA, the home is said to be the most expensive home for sale in the U.S.

Home Info

Public Facts:
Single family
11 beds
16.0 bath
52,503 sqft
Lot 56,628 sqft
Built in 1990

According to Zillow, the Monthly Payment: would be around $ 646,670.00

http://www.zillow.com/homedetails/594-S-Mapleton-Dr-Los-Angeles-CA-90024/20524417_zpid/

Home Was Once A Shipping Contaner

MSN.com Slideshow

MORE ON MSN

• 5 surprising organs you can live without
• Prom-date disasters
• 11 home makeover ideas that cost nothing
• Grade-school chefs
• Download Internet Explorer 8 for free

http://lifestyle.msn.com/your-life/living-green/staticslideshowdailyg.aspx?cp-documentid=18681851&imageindex=3

A Dairy Confession of The Lady House Seller

Are you smiling when you read the title of this topic on my Real Estate News & Views.

I have been posting someone else news and views for several years. I have a writer's block and I can not think and write at the same time. I can take a car for a long drive in the country by myself, on the freeway and I can really think but I can not think of anything to write when I am sitting down with my laptop to write something on.

I have no idea how any real estate agent can write a long article and write daily on their BLOG as well as posting messages on Facebook, participate on the forums on Active Rain etc.

After a long day dealing and working with tons of paper in this real estate business.
I only have 15 active clients, 5 of which are sellers and 10 are my buyers but my clients
already keeping me very busy.
I am not complaining but I am exhausted at the end of the long day.
Still I was told that Blogging is a must if I am going to survive in this business so,
I have to BLOG. However, I have been on the internet for over 15 years or so.. or more? So why can I not write something of my own on the BLOG?
(I bought my first PC in 1985 and I used to log into the BB# to talk to the SYSOP.. was that the internet? lol )

So there you go... Come back and visit my BLOG again and I will give you a real treat!

Good night sweet dreams ... for now.......................................

Jieranai

A House Is A Home.

Cave House

Kitchen In The Cave House

Cave dwellers can't refinance; put home on eBay
Dig the idea of living in a cave? A Missouri family did, too — until they spelunked themselves into debt building a three-story cave dwelling during the housing downturn.
By The Wall Street Journal

http://realestate.msn.com/article.aspx?cp-documentid=18244526&GT1=35000

December 15, 2008, 2:35 pm
‘Spaceship House’ To Be Auctioned in Tennessee

Click here to see more photos of the Spaceship House.

Courtesy of Crye-Leike Auction
Sushil Cheema reports:

By CHRISTINA DUFF

Caren Alpert for The Wall Street Journal

The Palmazes built a huge underground complex for their winery in Napa. Wine is barreled and aged in the tunnels pictured above.

Napa, Calif.
The land just below Mount George here is covered in Cabernet grapevines and dotted with oak and olive trees. On one side of a steep slope sits an arched door -- a rabbit hole for people.
Open it, and the world falls silent. Dampness hangs in the air. A tunnel leads deep into the earth until suddenly the ceiling opens up, revealing a huge domed room, 55 feet high and 75 feet wide. This is the heart of the Palmaz Vineyards winemaking operation, and more akin to Willy Wonka's chocolate factory than a Napa Valley wine cave.

http://online.wsj.com/article/SB123085057130947469-search.html?KEYWORDS=wine+cave&COLLECTION=wsjie/6month

To Buy Or Not To Buy A Home This Year?

This message was posted by a member on one of my Groups at Yahoo.
It is an article from the Chicago Tribune.

Five reasons to buy a home this year
Affordability returns to housing, and buyers have loads of negotiating power
By Amy Hoak, MarketWatch
Last update: 7:52 p.m. EST Feb. 27, 2009
Comments: 376

This story originally published Feb. 6 has been updated to reflect the passage of the economic stimulus bill.

CHICAGO (MarketWatch) -- People are afraid to buy a home in times like these, with the economy tanking and home prices continuing to fall. But if you're brave enough to stray from the herd, you might be in for the home-buying opportunity of a lifetime.

Ask for price reductions, improvements, closing costs -- whatever -- and the seller, desperately trying to get a contract, is very likely to work with you, said Jay Papasan, one of the authors of the book "Your First Home." When the market starts improving, your negotiating power starts to diminish, he added....

http://www.marketwatch.com/news/story/five-reasons-buying-house-now/story.aspx?guid={01DA1B93-91D1-49E4-A1B1-0ACA9CE66FF4}&siteid=yahoomy

This story originally published Feb. 6 has been updated to reflect the passage of the economic stimulus bill.

Five reasons not to buy a home this year
Homes are more affordable, but don't rush -- prices won't skyrocket soon
By Amy Hoak, MarketWatch
Last update: 7:52 p.m. EST Feb. 27, 2009

Comments: 502

This story originally published Feb. 6 has been updated to reflect the passage of the economic stimulus bill.

CHICAGO (MarketWatch) -- The unemployment rate is creeping up and home prices keep falling: Two great reasons why it might be best to put your home buying plans on hold.

After all, your own job could be the next on the chopping block. Plus, why not wait until home prices have reached their bottom and you can safely buy knowing your new house won't depreciate like a car coasting out of the dealership?

http://www.marketwatch.com/news/story/five-reasons-buying-home-2009/story.aspx?guid=%7B22185FBD%2D7F44%2D4A49%2DA604%2DA29D4225E122%7D&dist=TNMostRead

Tough Time For Home Owners.

Time is getting tough for home owners all over the US. I have gathered some useful links and articles from legitimate and reliable sources for my BLOG posting today.

1) Consumer Alert - Advance Fees and Loan Modification Services
First on this list is the article and useful links on the California Department of Real Estate web site:

MORTGAGE QUICK LINKS
Using the Services of a Mortgage Broker
Predatory Lending Prevention
Who do you call?
Avoiding Foreclosure
Advance Fees/Loan Modification

http://www.dre.ca.gov/mlb_adv_fees.html

2) Housing Market Facts:

National Association Of Realtors web site offer information on
the benefits Of Owning A Home.

There are links to information on :

Housing Market Facts.
Tax Credit Facts.
Home Owners Benefits.
Market Research.
How Realtor Can Help.
Multi Media Download For Mobil Phone.

http://www.housingmarketfacts.com/


3) Mortgage Work Out Program:

California Association of Realtors web site provides help to consumers on
this page for Mortgage Workout Programs for Homeowners.

There is the information about the Homeowner Affordability and Stability Plan,
click here .

For consumer information sheets containing detailed information on specific programs that REALTORS® can share with their clients, please click on the appropriate link below.
. HOPE For Homeowners (H4H) (revised 2/09)
. Countrywide Financial (Bank of America)
. Citigroup, CitiMortgage
. JP Morgan Chase & Co.
. IndyMac Federal Bank, FDIC (revised 2/09)
. Federal Government Loan Modification (revised 2/09) (Participants include: Fannie Mae, Freddie Mac, Federal Home Loan Banks, Hope Now participants, Department of the Treasury, Federal Housing Administration and the Federal Housing Finance Agency, and Wells Fargo.)

http://www.car.org/legal/mortgage-workout-programs/

I hope that this helps.
Jieranai Maier
http://JieranaiMaier.com
http://JieranaiRealEstate.com

Dealers, dreamers see gold in California housing bust

Dealers, dreamers see gold in California housing bust
Mon Feb 23, 2009 1:23pm EST

By Dan Whitcomb
LOS ANGELES (Reuters) - California's tortured real estate market has brought heartbreak and ruin, but some investors, speculators and first-time home buyers are also dreaming big and finding opportunities -- a silver lining in the Golden State's epic housing crash.
For many young couples, plummeting prices and near record-low interest rates make it possible to own a home in California for the first time.

Investors and real estate speculators, meanwhile, can snap up foreclosed properties on the cheap to sell during the next boom in California's boom-and-bust real estate cycle, a boom they believe is inevitable and possibly not far off.

"This is the buying opportunity of our lifetime," said Bruce Norris, who heads an investment group that expects to purchase some 100 homes this year in Southern California's Inland Empire region.

California -- which would be the world's eighth largest economy if it were a country -- saw a near-doubling in home sales in the fourth quarter, a pace surpassed only by Nevada's 133.7 percent growth.

But experts warn it's a dangerous game to play when nobody is really sure how low home prices will go or when they will rebound as the recession lingers, jobs dry up and residents pour out of the state in search of better prospects.

Norris concentrates on the Inland Empire of Southern California, made up mostly of Riverside and San Bernardino counties, one of the fastest-growing areas of the country during the housing boom, driven partly by immigrant families who couldn't afford pricier coastal cities.

It's now one of the hardest-hit. In the past 18 months, the median home price in Riverside and San Bernardino, pummeled by the subprime meltdown and now recording some of the highest foreclosure rates in the state, has plummeted 55 percent.

Norris Investment Group looks for homes built between 1980 and 1990, typically under 2,000 square feet (186 sq meters). Older houses come with too many maintenance "surprises," Norris says, and larger places can be tough to sell or rent in hard times.

Last month the group paid $55,000 for a foreclosed home that was worth $360,000 at the top of the market. Norris expects to spend $30,000 on repairs and rent it for $1,200 a month until the market turns around.

The group also hopes to minimize risk by owning the homes free and clear, thus accruing little debt.

"You cannot have this (low) level of pricing be permanent because it costs too much to build a home here," Norris said. "That's how you know you're making a logical decision when everything is falling around you. When you can buy a finished product someone will want to live in for $55,000, that just has to make somebody pretty wealthy someday."

'DARK MOMENTS'

Experts agree California home prices will ultimately rebound but caution that real estate investing in this economy -- the worst contraction since 1982 -- should not be undertaken by amateurs or the faint of heart.

"You have to have a pretty strong feeling about where this is all going," Stuart Gabriel, director of the Ziman Center for Real Estate at the University of California, Los Angeles, told Reuters. "This cycle is so different from prior cycles that it's very difficult to extrapolate." Continued...

"Most would argue that California is not going into the sea," he said. "On the other hand it's not totally out of the question that this particular period of weakness could extend for a while, and that means multiple years."

California's roller-coaster real estate cycles can be traced to the 1970s, when home prices tripled, ignited in part by foreign investment and the end of the gold standard following decades of explosive population growth.

Home prices plunged in the early 1980s, turned around and doubled within 10 years, slumped in the mid-1990s and then blasted off again at the end of the decade. The subprime meltdown and recession pushed them back off the cliff.

"It's a great time to buy for people who are willing to risk a little more and be optimistic when everybody else is doom and gloom," said Daren Blomquist, marketing and communications manager for RealtyTrac, an online foreclosure data service.

But he warned: "They will probably have to wait it out, possibly for several years."

Chris Twoomey and his wife Jennifer illustrate the risk underlying the perceived opportunities. They moved to California from the Midwest in 2004 to pursue acting careers and had just begun to think the dream of home ownership was out of reach when the crash came and they saw their chance.

The couple pounced in January, right after Jennifer, 39, learned she was pregnant with their first child, making an offer on a small, bank-owned home in suburban Los Angeles.

But the day after the Twoomeys' offer was accepted, Chris was called into the cafeteria at his job in a cosmetics company warehouse and laid off.

"Sometimes in our dark moments we sit around and say to ourselves, 'Look, forget the acting, forget everything, this is the time to bail' (from California). We can be doing this someplace else that's still warm but doesn't cost as much," Chris told Reuters in an interview.

"But we're sticking it out," he said. "It's perverse, but something inside of us does want to stay here. It's sort of a belief that because it is Southern California and because it is the kind of place where everybody wants to be, it will come back eventually."
(Editing by Edwin Chan and Eric Walsh)

http://www.reuters.com/article/newsOne/idUSTRE51M0CT20090223

Do Boomers Hold the Key to Rescuing Our Troubled Economy?

Do Boomers Hold the Key to Rescuing Our Troubled Economy?

By ecolin • Oct 15th, 2008 •

Ladies and gentlemen, they just might. Baby Boomers’ innovation, experience, expertise, and vast network of contacts may be the order of the day when it comes to breathing some life into our faltering national finances. How, you ask? Why, through the wonders of entrepreneurship, of course.

Americans Believe Entrepreneurship is the Answer

A recent poll conducted by the Kauffman Foundation for Entrepreneurship found that 56% of Americans believe that small business, rather than government, will lead us out of financial crisis and into stability. Over 70% of those surveyed believe that the vitality of the economy is dependent on the achievement of entrepreneurs, and 80% believe that the government should devote resources to encouraging entrepreneurship on a national scale. And who better to start a business than the ever-savvy, well-connected Boomers, who already constitute a disproportionately high number of the country’s self-employed workers? They’ve got some time on their hands, a wealth of knowledge, and a career’s worth of networking behind them…and now they’ve got the support of the U.S. Small Business Association, as well.

U.S. SBA Launches Website Dedicated to the 50+ Entrepreneur

This month, the SBA formally demonstrated its support by launching a website dedicated to the 50+ entrepreneur. Here Boomers can find everything they need to get their new venture off the ground: free online training, interactive communication tools, marketing support, advice on how to assess their readiness and get started, and more. It’s all online at http://www.sba.gov/50plusentrepreneur/

Read the whole article on Ideal-Living.com

http://www.ideal-living.com/442/do-boomers-hold-the-key-to-rescuing-our-troubled-economy

10 Cities To Buy?

Forbes magazine web site edition feature article that stated that
cities that experienced severe downturn are

10 Cities Boasting Mini Sales Booms Some cities that were hardest hit by the real downturn are experiencing mini sales booms.

Where U.S. Home Sales Are Rising

Motivated sellers in these 10 cities are fueling deals and hastening recoveries

Here are the cities where experts say it makes the most sense to buy now.

Las Vegas
Sacramento, Calif.
San Diego, Calif.
Los Angeles
Detroit
Phoenix
San Francisco
Washington, D.C.
San Jose
Atlanta

Source: Forbes, Matt Woolsey (01/12/09)

http://www.forbes.com/forbeslife/realestate/2009/01/12/cities-ten-realestate-forbeslife-cx_mw_0112realestate.htm

How to Tidy a House in Record Time

How to Tidy a House in Record Time

The home is a pigsty and potential buyers are arriving within the hour. Here’s what home owners can do to turn chaos into order, says Julie Edelman, author of The Accidental Housewife: Your Guide to a Clean-Enough House.

• Target the bathroom. Wipe down the sink, toilet, mirror and floor with disinfectant wipes. Empty the trash. No toilet bowl cleaner? Drop in denture cleaner, let it fizz for 20 minutes and flush.
  

• Salvage the kitchen. Clear the countertops. Put dirty dishes in the dishwasher. Spray down the counter with a clean-smelling multipurpose spray.
  

• Pick up debris. Concentrate on getting rid of clutter in the living room. Put it in a bag and hide it in a bedroom closet.
  

• Vacuum everywhere.

Source: Chicago Tribune, Emilie Le Beau (12/21/2008)

http://www.realtor.org/RMODaily.nsf/pages/News2008122201?OpenDocumentHow to Tidy a House in Record Time