To learn how water-intensive your lifestyle is and how to lessen your “water footprint,” visit www.waterfootprint.org 
This is especially timely this year as we are rationing water in the Ukiah Valley. I anticipate that soon the various water agencies will be able to work together to increase the storage capacity for our valley and yet, we can do our part by reducing our “water footprint.”
Enjoy!
For those of us who participated in the Charrette process to envision and plan the future of the downtown area, this is exciting news. See: http://www.hallalminana.com/projects/downtown-ukiah/downtown-ukiah.html The updated draft of the Downtown Zoning Code (form based code) will be reviewed by Planning Commission in a series of public workshops that will be held at the regularly scheduled Planning Commission meetings. At each workshop, specific sections of the draft Downtown Zoning Code (DZC) will be reviewed. The notice for the first workshop which will be held on July 8th is attached. The notice includes the draft schedule that identifies the sections to be reviewed at each workshop. workshop-notice-with-boundary-map-7-8-2009
If you have any questions or comments, please feel free to contact me or you can go to http://www.cityofukiah.com/pageserver/?page=hot_topics
The DRE recently issued a fraud warning alerting consumers about loan modification scams and informing consumers of what they can do to protect themselves. The alert is available in both English and Spanish. Last July, the DRE had fewer than 10 complaints involving loan modification companies; today the department has 750 pending investigations. In addition, since last October, the DRE has filed more than 200 Desist and Refrain Orders. A list of the companies and persons the DRE has filed an action against can be viewed at http://www.dre.ca.gov/cons_drs.asp
It is worth noting that not all firms who collect advance fees for loan modification services do so illegally, the DRE said. In general, only licensed real estate brokers and attorneys operating within the scope of their license may collect advance fees. Real estate brokers must have their advance fee agreement reviewed by the DRE prior to its use to ensure it is compliant with real estate law.
The California Association of Realtors (CAR) also has learned of what appears to be a loan modification assistance program and lead generator, from a company using the legislative bill number 3648, that looks as if it’s a government entity. It even has a seal closely resembling a governmental seal but it is not affiliated with the government.
Be on the alert for schemes seeking funds and making claims that might be misleading or unlawful. If you have any suspicions or questions, feel free to contact me or your personal real estate consultant.
On June 8th, Fannie Mae issued a list of tougher policies that could directly affect thousands of buyers in the coming months, especially those involved in job-related transfers.
Reversing a long-standing policy, Fannie no longer will permit mortgage applicants to count the income of so-called “trailing spouses” in the household income to qualify for a loan.
A” trailing spouse” is one who joins his or her spouse or partner in a job-related move, but who has yet to obtain employment in the new location.
If the main breadwinner’s income isn’t sufficient to handle the mortgage, the loan application will be rejected; only when the trailing spouse has documented income in the new location will it be counted.
Therefore, some transfering couples will either have to qualify on the basis of one income” — forcing couples to “buy less house than they wanted” — or “they may have to rent for an extended period of time until the spouse or couple is re-employed. If a couple must wait to purchase a new home until the spouse can find a new job, it might cause some to reconsider whether they want to make the job shift at all. (It is estimated that about 800,000 households in the United States move in a typical year because of job transfers.)
The good news is that Freddie Mac still counts “trailing spouse” or co-borrower income for loan applications, but under strict guidelines: The amount of the trailing co-borrower income cannot exceed 33 percent of the total qualifying income for the mortgage application. That income cannot be from self-employment and the “trailing spouse” must have been continuously employed in the same occupation for at least two years preceding the relocation. And the co-borrower must provide a statement of intent to find employment in the new location. The loan officer or lender must also analyze the local employment market and verify that there are adequate opportunities and earnings potential for the co-borrower.
(I would like to know how they do that. Anyone know?)
As part of its June 8 tightening of underwriting rules, Fannie Mae also announced that it plans to discount the values of all borrowers’ stock, bond, mutual fund and retirement fund holdings that are claimed toward the applicants’ financial reserves needed to qualify for a mortgage. Fannie previously counted 100 percent of the claimed or documented value of stocks, bonds and mutual funds toward reserves but, now, it will discount them by 30 percent. It seems too bad that they have to do that, but it certainly makes sense in this economic environment.
These changes will make it difficult for folks in the short term, but lenders needed to be more responsible about loaning money and we all benefit when everyone “does the right thing.”
Mystery shoppers hired by the National Community Reinvestment Coalition have found that troubled borrowers who turned to so-called foreclosure prevention specialists paid an average of $2,900 for “poor advice” that “bordered on theft.” The advise provided by these firms is “horrible,” NCRC executive vice president David Berenbaum told the NAREE Conference in Washington. “For every legitimate one, the next three border on theft.” Among other things, these scam artists told borrowers not to pay their mortgages and not to speak with their lenders. (This is this one of the worst things you can do if you are in trouble.) CDC plans to announce these and other findings uncovered by their 200 mystery shoppers later this month, Mr. Berenbaum said. He also told the group that nine out of 10 subprime refinancings “did not expand home ownership,” and that many seniors are being “misguided” into high-cost reverse mortgages.
Be sure to consult with me, or your trusted real estate advisor, before pursuing a loan modification. We can refer you to reputable people who can really help.
As of July 1st, the Mendocino County Lodging Association (MCLA) in partnership with the Mendocino County Promotional Alliance (MCPA) will be pooling their resources under the Visit Mendocino County organization to better promote and market the County.
This is a giant leap forward and much time, dedication, and energy have been devoted to getting to this point. The Visit Mendocino County team will function as the county’s official Tourism Bureau, and is focused on growing visitors in order to increase the economic impact of travel in the County. From visitor guides to the County website to working with members and businesses, the Visit Mendocino County team will direct and implement the entire marketing campaign.
Visit their great website: www.gomendo.com and see all the community information there.
Now you may have a big incentive to “Go Green.” There is a new 2009 law that gives you uncapped and unlimited tax credits for installing qualified solar, wind, or geothermal energy improvements in your home, or other residence. For each 2009 dollar you spend, you earn a 30 percent tax credit and there is no limit on the credit. You have plenty of time too, because the credit does not expire until December 31, 2016! Tax credits are the best because they reduce your taxes dollar for dollar. See your CPA for all the details.
Great news for the long-awaited Skate Park project!
The Ukiah Planning Commission has approved a site development permit for the Skate Parks new location at Low Gap Park between the tennis courts and the Ukiah Player Theater.
The skate park was foremerly scheduled to be constructed on a parcel on Leslie Street, but there were issues with soil remediation.
The Skate Park Committee has raised more than $789,481 with fundraisers and grants. The 20,000 sq. ft. design is ready to go out to bid, and the estimated cost to complete Phase 1 is $998,000. With just $208,519, they can break ground. The intention is to start building this year.
This project is going to be such an asset to our community and I’m very grateful to see it finally getting underway. I think that once it starts to move forward in a tangible way, people will be more likely to help by contributing money to finish it. Kudos to everyone who has held the vision and worked so diligently to make it happen.
Get the most current bank owned foreclosure inventory for Mendocino County at
http://www.BankOwnedWeekly.com/MendocinoCounty
If you, or someone you know is having difficulty with mortgage payments due to a change in interest rate, job loss, illness or any reason;
we have good news for you!
On Tuesday, March 4, 2009, the Obama Administration unveiled specifics of the “Making Home Affordable” program.
Since that time, many lenders have voluntarily adopted these guidelines and others are getting ready to do the same.
The program provides new options for homeowners struggling to pay their home loans. It may allow borrowers to have their loans modified or re-financed.
On Tuesday evening, June 16th, from 5:30 to 8:00 PM, Northern Circle Indian Housing Authority (NCIHA) at 694 Pinoleville Dr., Ukiah,
will hold a workshop to explain the foreclosure process in general, the programs that are currently available and how to access them.
They will provide HUD approved housing counselors as well. Bring friends, neighbors or relatives who may benefit from the information too.
This is a fee service but please call them to reserve seating. 707-468-1336 x19.
