Coldwell Banker First Premier Agent Winifred Mauras Video

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ALTA Lenders Title Policy

ALTA LENDERS POLICY

The ALTA Lenders Policy is for institutional lenders only (such as banks and savings and loans). It insures lender priority and the fact that it is marketable. It covers both recorded matters as well as unrecorded matters such as:

Encroachments
Unrecorded easements
Access
Loss of priority
Unrecorded liens and encumbrances.
The coverage on this policy is quite broad. A survey or inspection is often required before a policy is issued This policy can be issued on all types of real property.

ALTA Residential Title Policy

ALTA RESIDENTIAL POLICY

The ALTA Residential Policy is an owner’s policy insuring owners of 1-4 family residential lots or condominium units. In addition to the basic coverage provided by the CLTA policy, the ALTA residential policy protects the insured against losses caused by:

Mechanic Liens (labor and material liens) arising out of work done on the property which the insured did not agree to or agree to pay for
Major encroachments – The insured is protected against forced removal of an existing structure (other than a boundary wall or fence) because it extends onto adjoining land or onto an easement
Unrecorded interest arising from off record leases, contracts or option
Zoning Compliance (as long as property in question and zoning are both residential) CC&Rs compliance
Most title companies will insure a seller carry back deed of trust under an ALTA residential policy by endorsement (an addendum to a title policy with a small additional cost). This is the only type of deed of trust that may be insured under this policy.

What Happens when Mortgage Loan is sold to another Lender?

Follow My Blog to find answers to commonly asked Questions pertaining to the Real Estate Industry, Title Insurance, and Escrow services. Remember is it always wise to consult with a licensed professional in your area for the best more current laws and regulations. Sara

10 Tips for Telephone Success

The telephone is an often under-appreciated and much maligned piece of office equipment. Have you stopped to consider how much business you conduct over the telephone? These 10 tips will help you improve your telephone presence and presentations.

1. You are the “Manager of First Impressions” for your business. Whenever you pick up the telephone, put a smile on your face first. It will enhance your vocal quality and you will sound pleasant and relaxed.

2. Listen attentively to the person you are speaking with. Recall why your dog is such a good listener: listen actively and in the moment. Multi-tasking is the enemy of effective listening.

3. Let other people talk! Make sure your caller has completely finished speaking before responding. Remember: sometimes they aren't done talking; they are just coming up for air.

4. Use open-ended questions to get people to speak more freely. You should always talk less than the person you have called. It makes others feel more comfortable, particularly if you are asking them to make a decision. The more they talk, the easier it is for them to “buy into” what you are proposing.

5. To create affinity with your callers, speed up or slow down your speaking voice to better match theirs. They won’t realize why they feel comfortable, they just will.

6. Use your words for best results. Keep in mind you can phrase anything positively, negatively or neutrally. Phrasing your words positively will help you get better results more easily.

7. Voice mail can be your friend. Avoid leaving voice mail messages but if you must, think of it as a 30 second commercial on a highly rated radio program. You have the opportunity to get your message into the “ears” of your most desired audience. Your message should reflect this.

8. Plan your telephone presentations in advance. Think out all the various scenarios you might be faced with and write it out. This is called pre-call planning.

9. Tape yourself for self-improvement. Listen to yourself carefully and decide what areas you want to improve.

10. Make an action plan. Focus on only one area at a time. When you feel comfortable, move to your next area and repeat.

We use the telephone as our primary form of personal communication. People who are good with this medium increase their opportunities for success.

Southern California home prices rise on low supply

— Southern California home prices rose in December as investors made cash offers to compete
for slim pickings, and sales grew in pricier coastal regions, according to reports released
Tuesday.

The median price for new and existing houses and condominiums reached $323,000 in
December, up 19.6 percent from $270,000 during the same period of 2011, DataQuick reported.

The median rose $2,000 from November to December to its highest level since August 2008,
when it hit $330,000.

There were 20,274 homes sold during the month in the region, up 5.3 percent from the same
period last year.

Supplies remained tight. The California Association of Realtors index of unsold inventory in the
Los Angeles metropolitan area stood at 2.8 months in December, down from 4.8 months a year
earlier.

The figure represents how long it would take to sell all existing single-family homes in the
region at the current sales clip. Supply in a normal market is considered to be six to seven
months.

Josh Martin, a retired Marine who was approved for a $260,000 Veterans Administration home
loan, said he was outbid on four homes in the past two months in the San Diego area.

"It's been really tough," said Martin, 25, a prospective first-time home buyer. "Each time it's
people paying cash and flipping homes or (the sellers) get turned off by a VA loan."

Buyers paying cash accounted for 33.8 percent of December sales, up from 29.8 percent a year
earlier and well above the monthly average of 17.3 percent since 2000, DataQuick said.

The San Diego-based research firm said the high percentage of cash purchases reflected
difficulties getting home loans and investor interest in real estate.

Foreclosed properties — a major driver of sales until recently — continued to dry up, further
limiting supplies.

DataQuick said homes that were foreclosed in the previous year accounted for 14.8 percent of
existing home sales in December, down from 32.4 percent a year earlier and 56.7 percent in
February 2009.

The Inland Empire, which had been buoyed by foreclosure sales, was the only part of Southern
California to see sales drop. San Bernadino County, the least expensive county surveyed with a
median sales price of $180,000, saw sales tumble 11.7 percent from last year. Riverside County
witnessed a 9.4 percent sales decline.

The Inland Valleys Association of Realtors, which represents large parts of San Bernadino and
Riverside counties, recorded 51,797 sales listings last year, the lowest since it began keeping
track in 2001, said Paul Herrera, director of government relations and communications. Yet there
were 43,587 homes sold, which is about average, suggesting there is enough demand to support
more sales.

Herrera said listings will increase when homeowners who bought properties in the past two or
three years decide to take profits.

"The demand is there, but the supply has to match it," he said. "It has to come from new
construction ... or hopefully gains in value."

Pricier, coastal regions posted the strongest sales gains. Orange County, the most expensive
county with a median sales price of $470,000, saw sales jump by 19.4 percent from last year. San
Diego County, with a median sales price of $366,000, had the second strongest sales growth, up
13.5 percent.

How to Get Real Estate Leads by Door Knocking

You can generate real estate leads through door knocking!

Going door knocking is often a scary concept for real estate agents. The misconception
is that your presence will be unwelcome. On the contrary, this can be more effective than
direct mailing or calling. There are a few rules to follow that will make even the people
who don't like solicitors enjoy your visits. All you really need to know is how to do it right.

Visit an area where you or your office has a listing or just sold a home.
Don't just find a house and start knocking. Start with homes close to the
listed home, then fan out.

Create an address log containing a list of every house you intend to
visit.Your log should have each address listed one after another. Leave
a little space for notes, such as: "Never answers the door," or, "Growing
family may be ready to buy a another house in June."

Ring the door bell and then take a step or two back. People sometimes
feel a little scared when there is a stranger standing too close to the door.
This is especially true if you are male. Put a soft smile on your face and
enjoy the uniqueness of their porch and yard instead of waiting anxiously
for the home owner to answer.

Ring the door bell and knock on the door, then wait 30 seconds.There may
be an elderly or disabled person inside who can't make it to the door in
less than 30 seconds. If no one answers, knock again and wait another 30
seconds before moving on.

Come bearing gifts. You can buy calendars, refrigerator magnates, pens,
notepads and other convenient goodies for a nominal cost with your name,
phone number and address on them. Something useful with your name on
it is less likely than a business card to be thrown away.

Introduce yourself. Let the homeowner know who you are and what you
do, but don't jump in and ask if she wants to sell her home or knows
anyone who does. Instead, start by explaining that you just listed/sold
a house down the street and want to get to know the area. Give the
homeowner your card and the gift and let her know if she ever needs your
services, or knows anyone who does, feel free to contact you anytime.

Find out a little bit about the homeowner if she seems receptive and keep
track of it in your log. Some people will be glad to tell you what neighbors
might need your services, how happy they are living in the area or if there's
a certain house you might want to avoid.

Continue visiting houses for three months. Then start back at the first
house again. Bring your handy log and return bearing gifts. By then you'll
get an idea who is happy to see you and what leads are going nowhere.
After they've seen you four times in the past year, some will know and trust
you. So when they want to buy or sell a property, or know someone who
does, they're going to call you.