Info On Verizon and the iphone

Apple ipad Event Leaves Verizon iPhone Rumors Adrift

The Apple iPad’s introduction wasn’t coupled with the end of AT&T’s iPhone contract — or word of an upcoming Verizon iPhone. This leaves many industry watchers wondering when Verizon will have its day.

Apple’s Jan. 27 introduction of the iPad — a 1.5-pound tablet with a 9.7-inch display that was the impetus of months of conjecture, rumors and excitement — wasn’t paired, after all, with a major AT&Tannouncement, which had also been expected by the rumor mills.AT&T’s status as the exclusive U.S. provider of the iPhone is expected to end this year, and with the end-date unknown, tech site Hot Hardware, quoting an “inside source,” spread the idea that the iPad’s debut date was likely to coincide with anadios to AT&T’s special status.However, Apple CEO Steve Jobs, and his colleagues, kept yesterday’s spotlight on the iPad.

“We think Apple was wise not to launch a Verizon iPhone because it would have distracted attention away from the new iPad and at AT&T,” Neil Mawston, an analyst with Strategy Analytics, told eWEEK.

“Apple has already signed multiple iPhone carrier agreements in other major countries, such as the U.K. and France, so it feels like just a matter of time before one or more additional operators in the U.S. get their hands on the device,” Mawston continued. “Having said that, AT&T was Apple’s first launch partner and it gave the iPhone its first big break in 2007, so perhaps Apple may stay more loyal to AT&T than some expect.”

Analyst Ken Hyers, with Technology Business Research, believes that when the end of the contract arrives, Apple and AT&T will make the announcement together.

“Verizon has made no secret of its interest in selling the iPhone, even as it has jabbed at the iPhone with its ‘iDon’t’ commercials promoting the Droid,” said Hyers, referring to the Motorola Droid smartphone that runs Android. “Verizon is a potentially very attractive network partner for Apple due to its large base of customers and its robust wireless data network that is currently being enhanced by the build-out of LTE.”

Hyers added that Verizon’s customers, 15 percent of whom currently usesmartphones, represent an untapped market that Apple would love to reach.

“It is just a matter of time before the AT&T-Apple exclusive iPhone arrangement ends,” Hyers continued, saying that while only speculation, this summer is a strong possibility. “That timing would coincide with the anniversary of the original iPhone going on sale in 2007.”

Analyst Roger Kay, with Endpoint Technologies, hypothesized that the slow arrival of a Verizon iPhone could be as simple, or as silly, as a personality conflict.

“If Steve Jobs has a problem with the head of Verizon, that could be enough,” said Kay. “If Jobs tells his troops ‘they just don’t get it,’ that could be enough for them not to ‘deserve’ Apple’s hardware. That could kill a deal for possibly years.”

Kay further clarified, “There’s no structural reason why Apple wouldn’t ultimately want to expand its carrier partnerships, but there may be issues we don’t see, blocking that from coming to fruition.”

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HUD to waive FHA 90 Flip Rule! Whew!

WASHINGTON – In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.

“As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers,” said Donovan. “FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization.”

With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties.

“This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed,” Donovan said.

In today’s market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.

The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.

“FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties,” said FHA Commissioner David H. Stevens. “This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity.”

The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:

• All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
• In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.
• The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

First Time Tax Credit offered by the U.S. Government.

Hi there!
If you bought a home in 2009, Congratulations!  You not only got into a new home at a GREAT price, but you also MAY QUALIFY for the First Time Tax Credit offered by the U.S. Government.

If you closed on or before November 6, 2009:
This credit is being offered via The American Recovery and Reinvestment Act of 2009 in order to stimulate Real Estate sales in the U.S. to help our economy.  Hopefully the tax credit will help your personal economy a bit as well.  You can read up on all of the claim requirement directly in the attached form.  The attached form is for all of you who purchased a home in 2009 PRIOR TO November 7, 2009.  It is the most current available as of today.  The current form can also be found on the IRS web site at www.IRS.gov

If you closed after November 6, 2009:
On November 6, 2009, congress passed The Worker, Homeownership and Business Assistance Act of 2009 which not only expanded the income limitations of the previous act, but also added a provision that allows for a potential tax credit of up to $6,500 for those buying a home that was not their first home.
If you closed on your home on November 7 OR LATER, the new form you will use should be available soon, according to the IRS.

IF YOU QUALIFY for either of the above tax credits, you need to:
·         Verify that you qualify for the tax credit either by reading the attached form, consulting the IRS or talking to your CPA.
·         When filing your 2009 Federal Income Tax Return, you need to include with your return a copy of your FINAL CLOSING STATEMENT.

Check it out!!

Something Positive in Housing

This article also takes into account the estimated 1.7 million properties currently referred to as “The Shadow Inventory”.This equates to about 3.3 month’s of inventory. This coupled with the current inventory of 3.8 million new and existing “visible” inventory represents over  11 month’s of inventory.

Many forecasts for the housing sector paint a picture of continuing price declines, rising foreclosure numbers, and a looming ’shadow inventory’ that could stop recovery dead in its tracks, but Radar Logic says predictions of a second doomsday collapse are “exaggerated.”

The New York-based real estate data and analytics firm argues that housing demand is currently strong, with home sales outperforming historical trends for this time of year.
This leads Radar Logic to believe that low home prices, coupled with government incentives such as the homebuyer tax credit, will keep demand strong well into next year. Even after unemployment peaks, perhaps in the second or third quarter, the company says increased stability in household incomes will provide further support to housing demand.
Regarding that ominous supply of distressed properties lurking in the shadows, Radar Logic says it will enter the housing market at a controlled rate that can be absorbed by existing demand without drastically reducing prices.
Thanks to bailout money and a general improvement in their financial health, banks no longer have an urgent
need to liquidate their assets, Radar Logic says, and as a result, lenders and government entities like Fannie Mae and Freddie Mac are able to curtail sales to stabilize prices and avoid recording losses on properties.
“Bankers and mortgage investors are rational and will not foreclose on and liquidate the pipeline of distressed properties in a manner that would depress the value of the properties they are trying to sell,” said Quinn Eddins, Radar Logic’s director of research.
Eddins noted that the administration sees stability in the housing market as crucial to economic recovery and has committed to help mitigate foreclosures well into next year, which will help to contain the supply of distressed homes.
“If efforts to ease foreclosures can and do succeed, there could be significant recovery in housing values in 2010,” added Michael Feder, president and CEO of Radar Logic. “Inventories are close to the norm of six months’ supply and prices have returned to 2003/2004 levels. Activity is much stronger than normal for this time of year, and there is evidence of qualified buyers waiting on the sidelines.”
All this means that “it may well be time for housing values to go up,” Feder said.
Radar Logic’s October 2009 RPX Monthly Housing Market Report shows a decline in residential prices of only 0.7 percent during the month ending October 15 – the smallest drop for that time period since 2005. Three- and six-month trends in the company’s composite price index were also stronger than they have been in four years.
Prices increased month-over-month in 11 of the 25 metropolitan statistical areas tracked by Radar Logic, mostly in the West Coast and Southeast regions, where seasonal factors are less prominent than in other parts of the country.

Information sources:

http://www.radarlogic.com/

http://www.radarlogic.com/research/RPXMonthlyHousingMarketReportforOctober2009.pdf

Foreclosures Decline for Third Month

Foreclosures were filed on 332,292 U.S. properties in October, a decrease of 3 percent from September, but still up nearly 19 percent from October 2008, according to foreclosure sales site RealtyTrac.

October marks the third-straight month of declines in foreclosures, which many see as an encouraging sign that the worst of the foreclosures are behind us. Still, some skeptics predict another wave. “The real issue is we don’t know what inventory banks are holding that they have yet to put on the market,” said Stephen Miller, chair of the economics department at the University of Nevada at Las Vegas, during an interview with Bloomberg News.

Source: RealtyTrac (11/12/2009)

THANK YOU to all our friends, family & clients!

Posted November 1, 2009 in the Ventura County Star

Chipotle Mexican Grill and Stan and Renee Rector with Troop Real Estate team up for a good cause!

 

Owen Noguera (center), general manager of Chipotle Mexican Grill in Simi Valley, is joined by Renee Rector, an agent for Troop Real Estate, Inc. in Simi Valley, and her husband/business partner Stan Rector, to display a portion of the food items they raised for Care & Share in Siim Valley 

When Renee Rector won a free meal recently at the Simi Valley Chipotle Mexican Grill’s regular drawing, she had a vision. With the cooperation of Chipotle’s General Manager Owen Noguera she thought of a great opportunity to provide a much needed boost for the local food bank while providing a free meal for members of the community.

It all started when Rector — an agent teamed with husband and business partner, Stan Rector, in Troop Real Estate’s main Simi Valley office — won a free meal at the restaurant.

“Owen asked me to bring in my friends and family members for a free meal,” Renee said. “Giving it some thought and having participated in Troop’s drives to give back to the community for years, I asked him, ‘How many people can I bring?’ He said, ‘How many people are close to you?’ ”

She tried to be modest, but replied “about 30 or so.” Owen said OK.

The Rectors felt it would be a great idea if they offered their clients a free meal at Chipotle Mexican Grill. But along with the invitation, the couple asked them to bring in canned foods and other nonperishable food items to help the local Care & Share food bank in Simi Valley.

“The most amazing part was how many people showed up. Chipotle Mexican Grill provided somewhere between 60 and 78 free meals. We were touched to help so many people with Owen’s cooperation who, in turn, helped others,” Renee said.

Recently, the Rectors visited Care & Share to make the donation of the canned goods in Chipotle Mexican Grill’s name.

“We raised a considerable amount of food in the three hours we were at Chipotle,” Renee said. “Many of the folks that ultimately benefitted are facing particular hardships in today’s economy.” 

http://www.vcstar.com/news/2009/nov/01/simi-valley-troop-team-chipotle-join-benefit-simi-/

Are distressed sales still a concern?

Daily Real Estate News  |  November 12, 2009  |  

Twenty-nine percent of recent buyers purchased a home in foreclosure or through a short sale, according to the latest REALTORS® Confidence Index. REALTORS® who participated in the survey are also concerned about a growing number of foreclosures and the hurdles buyers face in short sales.

The RCI is a key indicator of housing market strength based on a monthly survey of more than 50,000 REALTORS®; in a typical month there are more than 3,000 usable responses. Practitioners are asked about their expectations for home sales, prices, and market conditions; they also share their insights regarding buyer preferences and financing options and how those factors are influencing real estate markets nationwide.

“REALTORS® are on the front lines with buyers and sellers in today’s market and have valuable insights into real estate trends,” NATIONAL ASSOCIATION OF REALTORS® President Charles McMillan said. “The volume of distressed sales that our members are reporting underscores the importance of the recent tax credit extension. By putting cash in the hands of financially healthy home buyers, the credit will continue to help draw down inventory and stabilize home prices to encourage a strong and sustainable housing recovery.”

Despite the high volume of distressed sales, REALTORS® report that their buyers encounter various challenges associated with these types of sales. Buyers who present a short sale offer can wait months before hearing whether their offer will be accepted. In addition, REALTORS® are also seeing increased competition for foreclosed properties, and multiple bids are sometimes driving sales prices over list prices.

Aside from the demand for short sales and foreclosed homes, today’s buyers are increasingly interested in a home’s energy efficiency and proximity to transportation corridors, reflecting concerns about rising energy costs. Many REALTORS® are seeing a growing preference among buyers for smaller homes, as people look to downsize and cut expenses.

Mortgages insured by the Federal Housing Administration are the primary lending vehicle for many buyers; 24 percent of recent buyers used an FHA loan to finance their purchase. However, more than one in five recent buyers—21 percent—paid all cash.

Source: NAR

Great Place to eat in Simi Valley

We know first hand that a referral of someone you can trust is worth it’s weight in gold.  Below is a list of service providers that we do business with, all in which are our valued friends and clients who strive to provide the best quality care in their field.  Give them a try… you won’t be disappointed.

Great places to eat!
Burger Express & Mexican Grill
805) 579-7353 …Ask for Armondo
3200 E. Los Angeles Ave. Suite #1
That’s right!  Great Burgers, Breakfast, Sandwiches and even better Mexican Food!  Great price, authentic taste.  Our client’s agree…  this is one of Simi Valley’s greatest restaurant’s to grab a restaurant style food FAST!  Don’t forget about their catering too!
CLICK HERE to access their website!

Where you can find more.