According to federal data, in 2010, nearly 2 million people were turned down for mortgages because they didn't meet certain lender requirements due to problematic or incomplete applications. Due to the stricter guidelines, it's important that buyers are educated about comon triggers for mortgage-loan rejection. 1. Insufficient income: Lenders want to be sure borrowers can afford to make the mortgage payments.  Lenders typically look for at least a two-year track record of income, which could hurt those who have changed jobs recently. 2. Cloudy financial picture: Generally, total debt payments, including the mortgage, cannot exceed 45 to 50 percent of a borrower’s adjusted gross monthly income.  Overtime and bonuses are included only if the borrower has worked for the same employer at l... 10/14/2011

Multiple reports showed national home sales and median price listings in September rose from a year ago with the home inventory down about 20%. Re/Max states that these positive signals were offset by a continued slight downward trend in home sales prices, down 3.3% from a year ago. Home sales nationally went up 7.6% from September 2010. According to Realtor.com, single-family home, condo, townhouse and co-op inventory was down 3.27% from August and down 20.09% from September 2010.  This year-over-year decrease could mean a return to seasonal patterns and higher prices in the coming months, though markets are still fragile and could weaken in bad economic conditions. Realty Trac stated that a decline in foreclosure filings may have hit rock bottom and that foreclosure activity will like... 10/14/2011

Barclays Captial states home prices could fall up to 7% by the end of the 2012 first quarter. They also noted that a bigger home price collapse from current levels is low. In another survey conducted by Fannie Mae found that most of those surveyed believe home prices will continute to fall around 1% over the next year.  CoreLogic & Clear Capital also expect home prices to continue to drop. Clear Capital is predicting for the last quarter of 2011, another drop in home prices and believe it will continue to decline through the first quarter of 2012.  10/14/2011

View Property Website. 3003 Sequit Dr., Malibu, CA 90265 3B 2B 10,000 sq. ft. lot (apx) Ocean & canyon views Complete remodel in progress In the El Nido neighborhood in Malibu Coming to market soon. Be one of the first to see this home.   10/12/2011

It's unforntuate to note that Congress failed to extend the $729,750 loan limits, despite extensive efforts by the California Association of Realtors and the National Association of Realtors in their fight for Freddie Mac, Fannie Mae and FHA conforming loan limits. The limits expired September 30th. What this means is that anything above $625,500 will be non-conforming, therefore a jumbo loan would be required. Jumbo loans generally have a larger mortgage interest rate and a higher down payment is required. Subsequently, the borrowers monthly payments would be higher and will cause greater difficulty with "middle class" seller and buyers.  10/11/2011

31422 Birdella Rd., Malibu, CA 90265 COMING SOON!- Bank-Owned/REO - Not in the MLS - Craftsman-style home - High ceilings in living room - Formal dining area - Kitchen with center island - Family room with wood-burning fireplace - Master suite with large walk-in closet  - Master bath with dual sinks, separate tub & shower - Den/bonus room with bathroom - 3 bedrooms upstairs - On cul-de-sac street - Detached 2-Car Garage - Large Lot - Access to nearby hiking trails - Close to freeway & beaches    ***View Property Website here. ***View Virtual Tour here.     10/10/2011

Federal Reserve Chairman Ben Bernanke spoke before the Joint Economic Committee of Congress last week about what he sees as our true economic outlook. In this statement he avoided sugar-coating worrisome trends and instead made clear that "the recovery is close to faltering." According to Bernanke, it has been three years since the beginning of the financial crisis, and while there have been improvements, such as manufacturing production rising 15 percent, a reduced U.S. trade deficit, and improved functionality in financial markets and banking, it is clear that the recovery is "less robust" than experts had hoped. Bernanke noted, "The housing sector has been a significant driver of recovery from most recessions in the United States since World War II. This time, however, a number of fa... 10/10/2011

This is something I read the other day, which I think we can all take something from: 1. Wake up early. For the next week, get up a half an hour earlier that you normally do--and get going. If you get a few more things done, then get up even earlier the next week. Early in the morning is a great time to get work done because most of your associates have not started emailing, tweeting, IMing, or posting yet. 2. Read the headlines and watch the news. Not only should you know what is going on in the world, you will also be the first to recognize opportunities (if you followed #1) for you and your business--long before the competition has even had their first cup of coffee. 3. Send something to one person who can hire you or buy your product--something you promised to follow-up with, a quic... 10/10/2011

    3000 Sequit Dr., Malibu, CA 90265 4B/3/5B $1,295,000   Custom view home situated on a promontory point overlooking the Pacific Ocean & Solstice Canyon. Vaulted ceilings and large, view picture windows. The kitchen opens to the family room. Formal dining room. 3 separately zoned heating/air systems. Attached mother-in-law suite can be 5th bedroom or office. 3-car garage w/additional storage space (apx. 600 sq. ft.). Conceptual plans for infinity pool available. This is a must see Malibu property. (Approved Short Sale)   10/08/2011

Standard & Poor's Rating Services' estimate of the number of months needed to clear the supply of distressed homes on the market fell in the second quarter for the first time since mid-2009. The current estimate is 47 months, a five-month decline from the first-quarter estimate and the largest quarter-to-quarter drop since mid-2008. While the volume of distressed U.S. non-agency residential mortgages remained extremely high-$405 billion in the second quarter-it has declined every quarter since mid-2010. At the end of the first quarter, the estimated balance of shadow inventory was $433 billion. Also, each of the individual top-20 metropolitan statistical areas that S&P tracks reported lower months-to-clear estimates during the second quarter than the previous quarter. Despite the improv... 10/08/2011

Are you looking to buy or lease a home? Or maybe you just want to see what's out there. There are several open houses taking place this weekend in Malibu and Topanga. For information on the open houses, including details about the homes and vacant properties as well as the schedule, go to the 4 Malibu Real Estate Partners Malibu & Topanga Open House List.  10/08/2011

Malibu Real Estate Partners   Bobby Lehmkuhl & Danielle Dutcher 23805 Stuart Ranch Road, Suite 150 Malibu, CA 90265 310.456.3655 / F 218.2117 www.4Malibu.com FOR SALE - APPROVED Short Sale - Custom Ocean View Home 3000 Sequit Dr., Malibu, CA MLS - 11-526631 4B/3.5B $1, 295,000        Not in the MLS - Ocean Views, Complete Remodel in Progress 3003 Sequit Dr., Malibu, CA Not in the MLS 3B/2B $1,140,000/mth            Just SOLD - Complete Remodel, Ocean & Mountain Views 26258 Fairside Rd., Malibu, CA MLS - 11-519411 4B/3.5B Sales Price - $719,000 - Represented Seller          Just SOLD - Bank-Owned/REO - Mountain Views, Large flat pad in Backyard 26322 Fairside Rd., Malibu, CA MLS - 11-539001 2B/2B Sales Price - $560,000 - Represented Seller          10/07/2011


Declining property values are preventing some homeowners from taking advantage of today’s historically low interest rates and refinancing. Making sense of the story Many homeowners nationwide have either no equity or are in a negative equity position in their homes.  This leaves them with two options for refinancing, paying extra at the closing or what’s known as a cash-in mortgage. Those considering refinancing will need to determine the current valuation, comparing it with the mortgage balance.  If the balance is at least 15 to 20 percent higher than what is owed, a refinance without a second down payment is possible. To obtain a good valuation, some homeowners hire an appraiser, at a cost of $300 to $600, or more on a large or expensive property.  While this may be informative, most... 10/07/2011

The U.S. homeownership rate in 2010 fell to the lowest level in 70 years, dropping to 65.1%, down from 66.2% in 2000, according to data from the Census Bureau. The decline came even as the nation added 15.8 million housing units, increasing the total housing inventory by 13.6%, the Census Bureau said Thursday. Eleven states suffered declines of at least two percentage points in their homeownership rates, led by South Carolina, with a decrease of 2.88 percentage points. The 10 states with the highest housing unit growth rates were in the West and South. After Nevada, Arizona clocked the second-largest gain, as its housing inventory rose by 29.9%, followed by Utah, with a 27.5% gain, and Idaho, with a 26.5% increase. California had the most total housing units in 2010, as it did in 2000, ... 10/06/2011

Towards the end of July, the Neighborhood Preservation Act of 2011 was re-introduced and proposed by California Congressman, Gary Miller.     Originally introduced in May 2009, the Neighborhood Preservation Act hopes to allow banks, as well as government sponsored entities Freddie Mac and Fannie Mae, to lease foreclosed properties to either the previous owner or another individual for up to five years. Once the lease is up, the tenant would be allowed the opportunity to purchase the property.   Some of the proposed benefits of the Neighborhood Preservation Act of 2011 are:  Former property owners are given the opportunity to remain in the home Allowing someone to live in the home would contribute to the property's upkeep, therefore preserving the home's value A lower inventory of forec... 10/06/2011

Pending Home Sales are homes that have a purchase contract in place but have not yet closed.  The National Association of Realtors released their data for August and it showed a year-over-year annual improvement of 13.1%.   When comparing August to July, pending home sales slipped but less than market forecasts.  Economists expected Pending Home Sales to decrease month-over-month by -1.8%.  The actual number was a little better at -1.2%. Hurricane Irene, which battered the Northeast at the end of the month, was likely a factor in the decline.    Three of four regions throughout the United States saw declines in the number of contracts to purchase previously owned homes. The Northeast region experienced the largest loss of 5.8 percent as a result of significant disruption by Hurricane Ir... 10/03/2011

Malibu & Topanga Open Houses Sunday, October 2, 2011 from 2-5p    OPEN HOUSE INFORMATION: Residential Single Family Sunday - October 02, 2011Time: 2 - 5 PM Sotheby's Int'l Rlty-Pac PalRobert Radcliffe DRE:# 01132704310.255.5454MLS Number: 11-555033   20229 INLAND LN MALIBU 90265 4 bedrooms    3.00 bathrooms $1,699,000 ActiveListed On: 09/19/2011 Pristine single-story Spanish hacienda located in the Big Rock area of Malibu. Approximately 2,852 square feet with 3 large bedrooms and 3 baths which have been completely remodeled. Natural rock pool designed by Doug Burgess with a tropically landscaped back yard providing privacy. Formal dining room, living room and family room. The home has classic Spanish arched entryways, completely remodeled kitchen with new cabinetry and granite counters... 10/01/2011

California default notices spiked 55% in August, and the number may keep rising in the coming months as mortgage servicers shake off the robo-signing freeze, according toRealtyTrac Senior Vice President Rick Sharga. In August, servicers filed 28,961 default notices in California, the first stage of the foreclosure process in the state, RealtyTrac showed. Another filing trackerForeclosureRadar found a similar boost in foreclosure starts along the West Coast and said Bank of America led all major banks with a 116% jump in August alone. The industry has not yet returned to normal or necessary foreclosure activity levels, but progress is certainly being made. From January 2010 through September 2010, California NODs averaged 28,000 per month. That dropped to 26,000 per month for the rest of... 09/21/2011

California home sales and median prices should improve only slightly in 2012, as the the tepid economic recovery, uncertainty and tight lending keep the lid on greater momentum for housing. The California Association of Realtors forecasts the state's home sales will grow about 1% next year to 496,200 units, following essentially flat sales of 491,100 this year. CAR said 491,500 homes sold in 2010. Despite the run of unforeseen global events in the first half of this year that slowed the overall economy, 2011 home sales are projected to essentially remain unchanged from last year. Looking ahead, the fundamentals of the housing market — such as low mortgage rates, high housing affordability and favorable home prices — are expected to continue, but at this point, a strong housing recovery ... 09/21/2011

Every American upset with the state of mortgage lending should read the Fox Business News article on strategic default in order to meet the "New Face of Foreclosure." Strategic defaulters are underwater borrowers who intend to remedy their "upside-down situation" by simply walking away from their mortgages. The Fox Business article paints a clear picture of a 67-year-old strategic defaulter who is walking away from a $166,000 loan. So is this man a distressed borrower who lost his job, fell ill or landed on unexpected hard times? No, not really. Those situations tend to garner sympathy, and rightfully so. Instead, this man admits he collects two pensions, Social Security and generates additional income through a small business. The defaulter also has the ability to make his payments, bu... 09/21/2011