Americans to Reap the Benefit of $26 Billion

By: Lori Einhorn

Great news for Americans across the nation. Five of the largest US banks have negotiated a $26 billion dollar payment that as many as 2 million Americans may receive. This is the largest settlement of its kind in history against the housing industry. In 2010, all 50 state attorneys began working on this case during revelations of banks evicting people with false documentation.  Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial have all been targeted as being primarily responsible.  

Now nearly 1 in 5 Americans owe more than the worth of their house because their mortgage is underwater. Although this settlement may come as a relief to many homeowners, it will not rule out any criminal prosecution for the banks. Along with this, California’s attorney general, Kamala Harris wants to utilize the False Claim’s Act to receive more money from the banks for improperly packaged mortgages. This is another good sign for victims of the housing crisis.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

2012 housing market predictions by Bloomberg

By: Lori Einhorn

When BusinessWeek set out to determine what housing prices would be in the year 2012, we knew that there was no way to know for sure. But in working with the Brookfield, Wis.-based research firm Fiserv, we weighed historical data against current trends to get a bead on which way the markets might jump at one-year increments. By combining data, we were able to get a pretty good idea of what home prices would be in three years’ time.

Across the board, real-estate prices will continue to drop before rising slightly by the fourth quarter of 2011. Why is that important? Given the wretched state of the real-estate market today, both homeowners and potential buyers might be better able to make an informed decision about when, and whether, they should move. Obviously, we can’t guarantee that our data will hold up — although we think it will — but what becomes clear is that even the worst-hit markets will begin to see improvement by 2012.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

By: Lori Einhorn

Snow Day in Bell Canyon

On Sunday, February 12th, 2012, there will be snow in Bell Canyon. Make sure to save the date for a fun day filled with snow, hot chocolate and games. This event is geared toward the kids of Bell Canyon and promises to be a fun filled day for our lovely families.

Stay tuned for more details.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

A prediction for the 2012 housing market

By: Lori Einhorn

California real estate sales and median price are predicted to improve only slightly in 2012, as the continuation of the tepid economic recovery, uncertainty about the future, and funding challenges for residential mortgages are expected to keep the market moving sideways, with little foreseeable momentum in either direction, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2012 California Housing Market Forecast” released today.

The forecast for California real estate sales next year is for a slight 1 percent increase to 496,200 units, following essentially flat sales of 491,100 homes this year compared to the 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,” said C.A.R. President Beth L. Peerce.  “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 will depend on consumer confidence, job creation, and the availability and cost of home loans.
“Discretionary sellers will play a larger role in next year’s housing market,” said Peerce.  “Those who held off selling in 2011 may list their homes in 2012, thereby improving the mix of homes for sale compared with the last few years.  Additionally, distressed sales will remain an important segment of the overall market as lenders continue to work through the foreclosure process.”

The California median home price will increase 1.7 percent in 2012 to $296,000 in 2012, according to the forecast.  Following a double-digit increase in the median price in 2010, the median home price will decrease a projected 4 percent in 2011 to $291,000.

“2012 will be another transition year for the California housing market, as the continued uncertainty about the U.S. financial system, job growth, and the stability of the overall economy remain in the forefront for all market participants,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “An improvement in job growth, consumer spending, and corresponding gains in housing are essential to a broader recovery in the economy, but would-be buyers will remain cautious as they weigh these myriad uncertainties against the clear opportunities presented by today’s very affordable housing market.

“The most likely scenario is for the modest recovery to continue, and this should push sales up slightly next year by 1 percent and maintain levels that are significantly higher than those recorded during the depths of the housing downturn.

“The wild cards for 2012 are many, including federal, fiscal, monetary, and housing policies; the contentious political climate during an election year; and the strength of the U.S. economic recovery,” said Appleton-Young.

Compliments of the Hartanov Team

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

Thanksgiving Recipes

By: Lori Einhorn

Ingredients:
1 1/2 cups (200g) flour
1/2 teaspoon of salt
1 cup (200 g) sugar
1 teaspoon baking soda
1 cup (240 ml) pumpkin purée*
1/2 cup (120 ml) olive oil
2 eggs, beaten
1/4 cup water
1/2 teaspoon nutmeg
1/2 teaspoon cinnamon
1/2 teaspoon allspice
1/2 cup (120 ml) chopped walnuts
* To make pumpkin purée, cut a pumpkin in half, scoop out the seeds and stringy stuff, lie face down on a foil or Silpat lined baking sheet. Bake at 350°F until soft, about 45 min to an hour. Cool, scoop out the flesh. Freeze whatever you don’t use for future use. Or, if you are working with pumpkin pieces, roast or boil them until tender, then remove and discard the skin.

Method
1. Preheat oven to 350°F (180°C). Sift together the flour, salt, sugar, and baking soda.
2. Mix the pumpkin, oil, eggs, 1/4 cup of water, and spices together, then combine with the dry ingredients, but do not mix too thoroughly. Stir in the nuts.
3. Pour into a well-buttered 9x5x3 inch loaf pan. Bake 50-60 minutes until a thin skewer poked in the very center of the loaf comes out clean. Turn out of the pan and let cool on a rack.
Can easily double the recipe.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

Belly Stuffer

By: Lori Einhorn

A Poem by Karl Fuchs

Thanksgiving brings a terrible chore,
‘Cause I’m forced to eat and eat some more.
If I don’t eat it up right down to dessert,
I fear the cook’s feelings will surely be hurt,
So I do my part, even though I suffer;
To be a good guest, I’m a belly stuffer.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

A Historic Gathering

By: Lori Einhorn

Most stories of Thanksgiving history start with the harvest celebration of the pilgrims and the Native Americans that took place in the autumn of 1621. Although they did have a three-day feast in celebration of a good harvest, and the local natives did participate, this “first thanksgiving” was not a holiday, simply a gathering.

There is little evidence that this feast of thanks led directly to our modern Thanksgiving Day holiday. Thanksgiving can, however, be traced back to 1863 when Pres. Lincoln became the first president to proclaim Thanksgiving Day. The holiday has been a fixture of late November ever since.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

Mortgage rules change again

By: Lori Einhorn

The Federal Reserve proposed some new mortgage rules today that might not seem particularly radical: it wants lenders to be sure that borrowers can actually afford the loan they’re given. Imagine that! While this might sound like common sense to most of us, this basic concept was pushed aside by many banks and mortgage companies during the housing bubble. As a result, loans were given to borrowers who could not repay, and ultimately defaulted. The Fed intends to force lenders to ensure that borrowers can afford loans in a few ways.

Fed wants mortgages only given to those who can afford them. Which, on some level, these rules seem obvious because they amount to a course in basic loan underwriting 101. Take, for example, the Fed’s “General Ability-to-Repay Standard.” Lenders must determine that a borrower can afford a loan by considering and verifying the following eight underwriting factors:

• Income or assets relied upon in making the ability-to-repay determination;
• Current employment status;
• The monthly payment on the mortgage;
• The monthly payment on any simultaneous mortgage;
• The monthly payment for mortgage-related obligations;
• Current debt obligations;
• The monthly debt-to-income ratio, or residual income; and
• Credit history; and
• Underwriting the payment for an adjustable-rate mortgage based on the fully indexed rate.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

By: Lori Einhorn

On October 15-16 the annual Calabasas Pumpkin Festival will take place at DeAnza Park in Calabasas!

$5 Admission
Free parking & shuttles

Parking & Entrance begins at Corner of Lost Hills Rd & Agoura Rd (note: No parking along Las Virgenes – Malibu Canyon Rd)

Admission Price Includes:

• Inflatable Rides & Giant Slide
• Live Bands
• Contests
• Reptile & Nature Shows
• Youth Carnival Games
• Business District & Fun Zone
• Sunday Car Show

For Purchase at Site:

• Delicious food & beer
• Jewelry & other craft items in the Marketplace
• Children’s craft projects, balloons & face painting
• Pumpkins, Pumpkin Treats & Halloween Items
• Reserve the date. Lots of fun for the whole family.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.

In Our Own Backyard

By: Lori Einhorn

Are you aware that there are many families in the Valley right now that do not have enough food to eat tonight? Each one of us can do a something to help out those in our local neighborhoods who are about to lose a house, lost a job, or are unable to make ends meet during this very difficult economic climate. Look in your pantry or go to the market and bring some canned or paper goods to the West Valley Food Pantry.

I was really sad to hear that the West Valley Food Pantry is really low on supplies because the amount of families in need has tripled from what it was a year ago. If each one of us would reach out and help just a little bit, it will make a whole lot of difference to those families in need right now.

Lori Einhorn

Organized, focused, excellent communicator, motivated, persistent: are only a few of the positive words used by clients and other real estate professionals to describe Lori's business style.