Serena Russell ~ Bay Area Real Estate Specialist

Buying a home is one of he biggest investments you’ll every make.  You will want to protect your investment during the purchase transaction with title insurance.

If you won the land that the house is on, you have a strong right to the property.  But if others have rights to it through liens, unpaid taxes, or mining rights, they are also part owners of the property.  Even if you know nothing about these risks, as the homeowner you are still vulnerable to such claims on your property.

Title insurance which protects against claims on your real estate by others, requires that certain risks be eliminated before the policy takes effect.  It then covers hidden risks thereafter.  If you have to go to court in regard to your property, the title insurance company will pay for your legal counsel.  If you lose your rights, you should be protected up to the amount of the policy.

Make sure you discuss a title insurance policy with your title company.

When you are ready to buy a home, call me.  As your real estate professional, I’ll be happy to help you through the process.

Your  Guide to Keeping House Cleaning Under Control

From the kitchen to the bedroom here is a how to for keeping your home neat and tidy.

Linda, the Queen of Clean, shares her secrets for a shipshape home.

FLOORS

The key with floors is to focus on high-traffic areas. If you keep those clean, your floors will stay fresh looking forever — well, almost.

Each week, attend to the most heavily traveled areas of your home. These include the hallways and entryways where your family walks all the time, and of course, the kitchen floor.

For wood floors: Vacuum with an appropriate vacuum or dust with a good microfiber dust mop to pick up dirt before you wash it. Then put hot water and up to six tea bags in a bucket. Make it strong. And wash the floor with that. The tannic acid in tea is really, really good for wood floors. It doesn’t stain; it’s inexpensive, natural and it’s safe for pets and kids. When you wring out your mop, wring it until it’s just damp; you don’t want to put a lot of water onto your floor.

For vinyl: Again, vacuum with an appropriate vacuum or dust with a good microfiber dust mop. Then put a gallon of plain water, or water with just a tablespoon of Borax, into a bucket. And wash your floor with that same microfiber mop.

For tile: As with all hard flooring, vacuum with an appropriate vacuum or dust with a good microfiber dust mop first.  Caution, that ceramic tile owner’s stay away from vinegar-based cleaning products, it’s an acid and can etch your grout, she notes. Instead, you can use an all-purpose cleaner or a tablespoon of Borax in water, and remember to wring out your mop well as you’re working.

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Getting a Mortgage When Self-Employed

By Kirk Haverkamp, Published: November 09, 2009

Getting or refinancing a mortgage when you’re self-employed can be a real challenge these days. With the virtual disappearance of stated income loans, it’s become much more difficult for anyone who doesn’t get a regular paycheck to qualify for a home loan. But it still can be done.
Stated income/stated asset loans, also known as Alt-A mortgages, used to be one of the most common ways for the self-employed to obtain a mortgage. You simply told the bank what your income was and the bank took your word for it. When housing values were rising, it really wasn’t that big of a risk for the lender.

But Alt-A mortgages got a bad reputation as “liar loans” during the housing bubble, when they were abused to exaggerate incomes for borrowers who otherwise would never qualify for a loan. When the housing market and economy went sour, stated income/asset loans accounted for some of the highest rates of defaults and foreclosures, and most banks simply stopped offering them. Read the rest of this entry »