Chances are, if you don’t have a Smartphone, you have been pondering the idea of purchasing one.  For those constantly on the go, they’ve replaced laptops and PCs.  As a result, more websites are becoming “mobile friendly.”  In order for you and your clients to have a better mobile experience, consider following some (or all) of the following tips:

• Brevity is key.   Lengthy paragraphs consume bandwidth.  Keep your web content brief. Eliminate Flash – it hogs memory and isn’t compatible with many mobile devices.
• Turn the tables.  Since you probably don’t have every wireless device available, use HowToGoMo.com to evaluate your site’s appearance on mobile devices.  You can check button sizes and your site’s searchability (to name a couple), with a complete suite of functions to ensure a better mobile experience.
• Safety first.   Having an app like “Red Alert” will give you peace of mind when you’re out and about.  With features like automatic 911 dialing and hospital locations, you can rest assured that you’re safe with this app.
• Receipts be gone!  When you’re constantly on the go, tracking expense receipts can become a challenge.  With the “Expensify” app, you can use your smartphone’s camera to digitally track your receipts – and cut out the paper mess.
• How far?  An app called “MileBug” lets you track mileage for one or more cars.  It also lets you move files seamlessly to your PC or laptop.
• “Magic” floorplans.  The “MagicPlan” app allows users to create interactive floorplans with your smartphone.  You can easily make measurements and publish results to your website.
• Track your leads.  With the “Open Home Pro” app, you can sign in clients at Open Houses, then immediately send them a thank you with more information about properties.  If the status changes on a property, you can notify the attendees of the change.

With a little time and effort, these tips can help you better manage your business on the go, letting you focus on the most important thing:  your customers.

Conventional wisdom typically views the winter months as the quietest time in real estate. While it’s true that people tend to hold off on significant life changes around the holidays, savvy agents can use the time for networking, re-certifications, and continuing education. That way, they’re set to go when the market heats up in the first months of the year – with new skills and a list of potential clients.

But, there’s another way agents can take advantage of the time – especially if they have properties on the market: winter open houses. Not only does it mean less competition, but it also means that sellers may find a pool of more serious buyers – such as parties relocating to the area in the 1st quarter.
With most new listings taking place in the spring, agents with sellers on tap for the new year can benefit from “early” listings. It allows a home to stand out early – instead of just being another needle in the haystack. It also increases the likelihood of offers that stick.

Speaking with the Star-Ledger, Prudential’s Marilyn Bailey states it best: “[Winter] is a nice time of year to shop — not as many buyers are out there, so you’re not competing with other offers as much.”

When you’ve decided on the house that is “the” house for you and your family, you make what’s called a “good faith” deposit. This money goes into the agent’s “escrow account” until details of the purchase agreement have been solidified between the buyer and seller.  Once the purchase agreement is complete, the money in the escrow account is transferred to an “escrow agent.”

This stage of the process is called “escrow.”  Escrow is considered “open” as soon as the buyer’s good faith deposit reaches the escrow agent / escrow company (stand-ins may be a title company, an attorney, or any agent authorized by your state to “close” a real estate transaction).  It is at this point that an escrow agent and a unique file number are both assigned to the account.

This escrow agent will be responsible for tracking escrow through to closing. He or she will also be the point of contact for parties involved in the transaction (buyers and sellers) and will have the ability to give ongoing status and answer any questions regarding everything in the escrow process – from title search to insurance.  Once all the documents have been gathered and signed, money “officially” changes hands, and escrow (and the transaction / sale) is deemed “closed.”

Qualifying for a mortgage has become more of a challenge these days, but there are things that you can do to increase your odds of getting the best loan.

• Review your credit report. Make sure everything being reported belongs to you and reflects your true payment record.  Contact individual creditors to request corrections.  Once the creditor has corrected the error(s), check your credit report to ensure your record has been updated accurately.
• Clean up credit. Make timely payments, pay off any collections and pay down credit card balances.  Not only will it increase your credit score, it will show to potential creditors that you’re being responsible with your obligations and keeping debt levels low.
• Be honest. Don’t neglect to document credit issues, sources of income, or assets.  Not only could such omissions delay application and/or approval, they could lead to a denial of credit altogether.
• Gather documentation. Ensure your paystubs, investment and bank statements are accurate, both in amounts, names, and addresses.  If you’re putting a down payment on the property, be prepared to provide documentation on the source of the funds.
• Review Good Faith estimates. Make sure you’re comparing apples to apples and know all the fine print of the loan(s).  Don’t just focus on paying the lowest APR, as there can be negative terms buried in the fine print, such as prepayment penalties and origination fees.

While some of these steps may take several months to complete, they can pay off in the end by allowing you the best loan with the lowest rate possible.

Wishing you a wonderful new year. May 2012 be your best year yet!

Since the so-called “Great Recession” began in 2006, home valuations have fallen by an average of 25%, forcing many “underwater” as incomes and available credit shrank.  Recent positive economic data shows a good foundation being laid for housing in 2012.

Speaking with Housingwire.com recently, Barclays Capital analyst Stephen Kim observes that “in the absence of government homebuyer incentives, prices for non-distressed home sales have stabilized for almost a year.”   This news, coupled with an uptick in jobs and new housing starts in November, this comes as very welcomed news for wary first-time homebuyers, many of whom have been waiting on the sidelines for the “right” time to buy.

While timing the market seldom works, many first-time homebuyers have held off on making what will likely be the largest purchase in their lives.  What are they waiting for?  Palpable signs that housing prices have leveled out and that the economy is finally back on firm footing.  As Kim concludes, “Housing’s recovery depends primarily on when these first-time buyers decide it is safe to buy a house.”

Smartphones have become a part of our lives that professionals simply can’t live without.  They keep you from lugging around a Day Planner and provide you with the freedom to spend more time in the field instead of the office.  As a result, it’s important that you safeguard your Smartphone.  By following these tips, you can minimize your risk of losing important information:

1. By setting up a password to access your device you ensure that an unauthorized user won’t have access to data on your phone should it be misplaced (temporarily or permanently).
2. Before installing new apps on your device, read other user reviews.  New or unreviewed apps can leave you vulnerable to security and privacy holes.
3. Minimize application data transfers.  Many apps will tap into data stored on your phone (e.g. contacts).  Make sure that any application asking for access to data on your phone has a legitimate reason for requiring that data.
4. Minimize use of Bluetooth.  Oftentimes, your Bluetooth password is short, making it easy to figure out.  To ensure that your communications aren’t being compromised when you’re using a Bluetooth device, punch up that password.  Use a wired headset to avoid any unwanted access or transmission of your calls.
5. Conduct regular housekeeping.  Regularly review apps you have installed on your device.  Delete those you don’t use to avoid unnecessary open connections to your data.
6. Don’t answer unknown calls or texts.  Messages from unknown or blocked callers can be attempts to “phish” for personal data.  If you get a call or text from an unknown number, do a web search to find out if any other users have documented scams associated with the number(s).
7. Always close your browser.  Occasionally, mobile sites (even those that are password-protected) can remain open on your device indefinitely.  Especially sensitive are banking and email sites.
8. Don’t trust an “update” link sent via email or text.  Verify directly with the app developer, either through your device’s app store or the app developer’s website for verification.  Hackers will use phishing techniques like this to access to user passwords and other sensitive data.

While Smartphones do present a security risk for all users, following these tips can help you keep your most sensitive data out of the hands of thieves and hackers.

Over the last ten years, the quantity of homes that are occupied by renters has increased nearly 34%.  That’s great news for landlords or for anyone looking for a long-term investment of 10 years or more.  The good news continues… In 2010, average rental rates jumped by more than 12% over levels the previous year.  The trend doesn’t show any sign of fading:  demand continues to rise and vacancies remain at record lows as more renters flood the market searching for rentals.

For owners of multiple properties or empty-nesters looking to downsize, this presents an incredible opportunity.  With mortgage rates at historic lows, this may be one of the best times for prospective real estate investors to enter the market as landlord. 

Experts advise that, when seeking investment properties, it’s best to stick close to home.  That will help make management of the property less costly and stressful.  Due to stringent borrowing standards, investors are also cautioned to avoid properties with more than four units.  Oftentimes, down payment requirements are far higher.  Another common tip is to focus on properties where your income/cost spread will allow a 20% (or more) monthly cushion.  That helps provide a buffer to cover repairs and the cost of property management, as well as giving you a pad for potential vacancy between tenants.

For those with the desire and wherewithal, rental properties can be a boost to a long-term investment portfolio, providing owners with an additional source of income while also being low-risk.

CV Escrow is pleased to announce the opening of our new Palm Desert office.  Our Palm Desert office has re-located to 73993 Highway 111, Suite 201, Palm Desert, California 92260.  In continuing our promise of providing outstanding escrow services to the desert area’s real estate community, our new office location provides us a larger environment to better serve our growing client base. 

CV Escrow – Palm Desert Office Manager and Escrow Officer, Joyce Cooper, has over 40 years of escrow experience and is a tremendous source of information for clients here in the Coachella Valley.  Joining Joyce in our Palm Desert Office are Escrow Officers Irene Ring and Judith Sevilla, and Escrow Assistant Lois King.

From Left: Escrow Officer, Irene Ring, Office Manager and Escrow Officer, Joyce Cooper, Escrow Assistant, Lois King, and Escrow Officer, Judith Sevilla

For more information about how the CV Escrow – Palm Desert Team can help you, please feel free to stop by!  We can be reached at:

We are down to the last five real estate laws and regulations that will go into affect in the near future. These new regulations include information about citations, escrows, exemptions, appraisal issues, and items pertaining to small claims court. With only a few months remaining in 2011, we hope that your year wraps up on a very successful note!

DRE Issuing Citations and Fines: Starting January 1, 2012, the DRE can issue a citation and fine up to $2,500 if, upon investigation, it has cause to believe that a licensee has violated the DRE rules, or a unlicensed person has engaged in licensed activities.  The person cited can request a hearing within 30 days from receipt of the citation.  The citation and fine will be in lieu of DRE disciplinary action for the offense cited, and the citation will not be reported as discipline.  However, failure to comply with the terms of the citation or pay the fine within a reasonable time specified by the DRE shall result in disciplinary action and non-renewal of license.  The DRE may also apply to a superior court for a judgment in the amount of the fine and an order compelling compliance.  All administrative fines collected will be deposited into the Real Estate Recovery Fund, which has, under Senate Bill 706, been renamed the Consumer Recovery Account.  Additionally under this law, if the DRE delays the renewal of a license due to a pending disciplinary action, the license will not expire until the results of the disciplinary action are final or the license is voluntarily surrendered, whichever occurs first.  This law also gives the DRE the authority to make public information confirming the fact of certain investigations or proceedings regarding a licensee, and to apply for a court order to enforce a subpoena if a licensee has refused to obey.  Senate Bill 53.

Reporting Broker-Owned Escrows and Securities Qualification Exemptions: Starting July 1, 2012, a broker who conducts escrow activities for five or more transactions in a calendar year under the broker exemption from the Escrow Law, or whose escrow activities are $1 million or more in a calendar year, must file with the DRE an annual report of the number of escrows and dollar volume.  The report must be filed within 60 days after the end of a calendar year in which the threshold is met.  A failure to submit the report will be penalized at $50 per day for the first 30 days and $100 per day thereafter, up to $10,000.  A broker who fails to pay the penalty may be subject to license suspension or revocation.  All penalties collected will be deposited into the Consumer Recovery Account under the Real Estate Recovery Program.  Effective January 1, 2012, this law also requires a broker who files certain information with the DRE for an exemption from securities qualification to submit a copy of that information to any investor who gives funds to the broker in connection with a transaction involving the sale of a series of notes (or undivided interests in a note) secured by real property under section 10237 of the California Business and Professions Code.  Senate Bill 53.

DRE Suspending Largest Tax Delinquents: Commencing January 1, 2012, both the State Board of Equalization and the Franchise Tax Board must periodically make public a list of the 500 persons with the largest tax delinquencies in excess of $100,000.  The lists must include, among other things, each taxpayer’s occupational or professional license numbers.  The DRE and other state governmental licensing entities (with certain exceptions) must suspend and refuse to issue or renew an occupational or professional license for anyone on either tax delinquency list.  Assembly Bill 1424.

Agents Handling Appraisal Issues: Beginning January 1, 2012, a licensee cannot knowingly or intentionally misrepresent the value of real property.  Furthermore, a licensee who offers or provides an opinion of value of residential real property that is used as the basis for originating a mortgage loan cannot have any direct or indirect interest in the property or transaction as defined under Regulation Z (at 12 C.F.R. section 226.42(d)).  A licensee or other interested party is also prohibited from using coercion, extortion, bribery, intimidation, compensation, or instruction to improperly influence a person preparing an appraisal or valuation for a real estate transaction.  Senate Bill 6.

Increasing Small Claims to $10,000: Commencing January 1, 2012, the small claims court jurisdiction will generally increase from $7,500 to $10,000 for an action brought by a natural person.  For a claim of bodily injury from a car accident, the increase to $10,000 will not occur until 2015.  The dollar limit in small claims court for an action brought by a corporation or other entity will remain at $5,000.  Senate Bill 221.