The monthly Santa Cruz Women Homeowners Network meeting was attended with much enthusiasm. New affiliates are joining and we are planning our next community outreach program for the month of February. Program and agenda to be announced soon.
Karen Calcagno with Advantage Family Business Center in Soquel was visiting but is looking to join. She is a counselor and family systems coach utilizing peaceful estate settlement.
Linda Murphy, Mortgage Broker with Network Mortgage stated there are new GFE rules effective January 1, 2010. Will be easier to read and more in alignment with the HUD1. Separate licenses will be required for all lenders in July of 2010. Rates are for a fixed 15 year loan are at 4.25%. Good time to refinance with proper income documentation, good equity and high credit score.
Teresa Ronald, Certified Financial Planner predicted inflation to decrease to 1%, economy appears poised for solid growth in the coming quarters. GDP to rise at a a 3.5% pace in the first year of recovery.
Jeannie Martin, Insurance Broker who handles E&O, business owner, workman’s comp, personal, home, auto and life insurance. Sees a trend as homeowners look to lower their insurance due to the market shift but suggests everyone look at rebuilding costs vs market value as they have not declined. Also notes that rates are higher for vacant homes.
Kathleen Richard, Portola Property Management advised us of the new Red Flag Rule, effective 11/1/09. States that a credit reports cannot be given to a renter even though they order and pay for them. Provides additional credit protection to consumers. New policies and procedures for owners that live our of state but have rentals in Ca are now paying 7% withholding. Rents locally have stabilized after seeing a 10-20% decline in the last year.
Kathleen Bodmer, Attorney does estate planning and business transaction law. She is busy with year end activities, including people exercising their $13,000 annual gift tax exclusion, as well as forming new businesses and closing others in time for the 12/31/09 deadline to save tax filings and additional fees.
Andrea Robinson, Interior and Systems Designer is a professional organizer, trained life coach, empowering people to improve their environment.
Micah Fox, Business Builder and Coach helps individuals, teams and businesses build effective teams, staffing and managers.
Carol VanAusdal, Realtor with Keller Williams Realty announced the extension of $8000 credit for first time homebuyers and addition of $6500 tax credit for move-up buyers if they meet certain criteria. Market is improving. Median price is higher than since August 2008 at $550,000. Inventory at all time low down 35% from one year ago. Many homeowners experiencing troubles paying their mortgages. Some are trying loan modifications and being subjected to fraud. Paying upwards of $6000 for nothing in return. Banks are reaching out to homeowners for free.
