October in Surf City

No Shame in the Fall Game
Huntington Beach's delightfully non-touristy secret

For locals and those in the know, here's the secret tourists and the global fans of Huntington Beach don't fully grasp: Huntington Beach is a year-round-town.  Home owners in Surf City know they have something to look forward to within their city borders and surrounding communities all year long. Sellers, this is a great time to drive this point home. Buyers, take note, you won't have the crowds of summer, but you will still have lots of fun things to choose from throughout the year.  And I'm not just talking about the world class, world renown, internationally recognized Old World Village Oktoberfest, either.

Let's talk Old World

Arguably the biggest draw to Huntington Beach outside of summer is the Oktoberfest at Old World, featuring something for every member of the family (at least, before 9 pm). History records Oktoberfest's origins as being no more than a 16 day festival beginning in late September and ending in early October, with legend suggesting the extension of the festival to mid October in order to celebrate the wedding of the Crown Prince Ludwig of Bavaria to Princess Therese of Saxony-Hildburghausen, who later became the king and queen of Bavaria. No such excuse is necessary for Huntington Beach: if it is an October date on the calendar, it is Oktoberfest. Weiner dog races (really, a must-see), and a ridiculous cacophony of authentic German food, music and of course, beer, make for one of the largest celebrations of its kind on the west coast.

Feeling a little paranoid this October?

Golden West College is putting on an amazing stage adaptation by Michael Gene Sullivan of George Orwell's 1984, directed by Tom Amen. Consider it a Halloween scare for tweens-to-grown-ups, the dystopian nightmare come to life on stage is highly literary way to spook your way toward Halloween if you are a member of that aforementioned age range.  For those of the younger set, the Huntington Beach Central Park Library Theater presents Huntington Beach Magic Show with Johnny Ace Palmer which will astound and amaze, followed by a Halloween costume parade all around the Huntington Beach Central Park Library afterword, so save the date of Wednesday, October 23rd, shows at 4 and 7pm.

Tacos taste just as good in October...

Up the road in Surfside, Taco Surf (home of the Surfside Margarita, which like their world renown tacos taste just as good in the fall as they do in the summer) presents local favorites Mid Life Crisis (or "MLC" by their impossibly hip fans) performing 60's and 70's hits with ridiculously tight harmonies. A perfect way to end the month for those who feel music and food of a non-Germanic nature is a better way to enjoy October, MLC will be joining the patrons of Taco Surf from 5:30 - 9:30 on October 26th.

Buy the Beach in Huntington Beach, the year round town!

Ann Stefanucci

562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com

Fall Fun in Huntington Beach

Just Because it's Fall
Doesn't mean you have to stop having fun!

An eventful summer comes to a close.  The mortgage interest rate hike a third of the way into summer set a new plateau which reduced the buying power of potential home buyers, but didn't slow down the market until after Labor Day when overall buyer interest slowed significantly but not unexpectedly.  The height of the tourist season has come and gone in Huntington Beach. The Susan G. Komen Race For the Cure, for which I am still training to join the San Diego race in early November, is running the Orange County race this weekend in nearby Fashion Island, Newport Beach to kick off the fall.  But that doesn't mean the family fun has to come to an end!

Adventure Playground is ready to receive your young adventurers

The summer fun continues well into the school year at the amazing Adventure Playground http://www.ci.huntington-beach.ca.us/residents/parks_facilities/parks/huntington_central_park/adventure_playground.cfm, where kids can build, explore, create and generally get dirty in a relatively regulated environment.  Although it won't detract from the experience, expect a decent sized crowd especially on weekends, as Huntington Beach's Adventure Playground remains open while the Irvine counterpart is closed for remodeling.  The hours and hours of fun and exercise for your 7-12 year olds will be worth the heavy laundry you may have to do as a result of your visit.  Adventure Playground is located in the Huntington Beach Central Park near the Central Park Library at 7111 Talbert Avenue between Beach and Goldenwest and is open from 10 - 4.  Kids are $3 and adults are free.

The islands are calling you this Saturday

Right in the same vicinity,at the Huntington Beach Central Park Amphitheater, an island-flavored event is taking place which is certain to make you feel like summer hasn't really gone (as if the temperature doesn't do that already).  The 6th Annual Pacific Islander Festival http://www.huntingtonbeachevents.com/annual/pacific-islander-festival.html is this weekend, and promises a fantastic celebration of the music, dance, crafts and savory foods of the Pacific Islands.  The event begins at 9 am on Saturday and 10 am on Sunday and is sure to attract crowds longing to extend their summer vibe.

Huntington Beach may be known for it's historic and iconic summers, but Surf City homeowners have long found ways to hang on to summers well into the fall.  Enjoy your not-so-fall, still-kind-of-summer weekend in Huntington Beach!

Ann Stefanucci

562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com

Being Prepared Is Not Just For Boy Scouts

Common Sense Preparation
Some things every homeowner should have ready

I watched the summer unfold, resisting the urge to use my blog to remind beach goers and visitors to my beloved Huntington Beach (and it's many events) to come prepared for long days, lots of traffic and parking congestion, and ultimately not to forget to apply sun screen for their little ones.  This was no easy accomplishment, as I watched routinely many families walk longer and farther from the beach than they anticipated, stroller in hand, with no hint of sun screen application or additional water.  With the typical August into September heat-and-humidity wave in full effect, I have shown remarkable restraint, though if I were to be completely transparent I've simply been busy with my own corner of the most promising summer in residential real estate to come along in six years.


If you own a home, or want to, be prepared for emergencies


Another thing I noticed apart from the real estate market improving this summer; the apocalyptic summer blockbuster movie.  I feel at least somewhat vindicated that my underlying sense of preparedness is somewhat echoed in the subject matter of Hollywood's summer movie fare.  I may not know how to stave off hordes of marauding zombies (they've gotten into my television, too, I've noticed over the last four years), genetically altered super-mercenaries, planet-conquering aliens, or the like, but I can make some good suggestions for coping with more "real-life" potential disasters; suggestions which everyone who has or wants to own a home should take note.


Essentials everyone should have whether you rent or own your home


I read a fantastic article published by Smart and Final some months back, which indicates what no home, apartment, or dwelling of any description should be without, set aside for the real world crisis Hollywood's metaphorical monsters only represent on screen:

• A week's supply of water, given one gallon per person per day.  
• A complete first aid kit including a first aid book and an extra supply of any essential medication
• Non-perishable food (Military "Meals Ready to Eat" MRE's come to mind), with can opener and preferably plastic utensils and disposable plates
• Extra set of baby food and supplies including formula, bottle, appropriate soap, wipes and diapers
• Camping supplies such as tent, blankets, sleeping bags, portable stove/grill, cutting knives, tools, radio, batteries and flashlights can double as disaster preparedness items
• Food, water and restraints/leash/carrier for pets 
• Fire Extinguisher types A, B, C or combination thereof
• Extra clothes for all, including sturdy shoes and heavy gloves
• Toilet paper, not to be understated, along with all relevant hygiene supplies
• Duct tape

Your home is supposed to be a safe place for you and your family (as well as the primary asset in the 'bank of you'), but it can't protect you from everything.  Otherwise, you wouldn't be required by lenders to purchase homeowner's insurance!  Being prepared is not just a boy scout trait; in a world of life-claiming tornadoes, hurricanes, earthquakes, fires, landslides and man made catastrophe, preparedness is a responsibility.

Ann Stefanucci

562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com

Mortgage Application Absolutes

Applying for a Mortgage is Serious Business


The rules are important and not to be taken lightly when applying for a mortgage

Yes, there are already all kinds of equally crucial rules to follow concerning home buying which have to do with the home itself, neighborhood and the impact on your current life such as proximity to work.   But mortgage lending, especially in an environment where interest rates are "ratcheting" slowly upward (three steps up, two steps down, two steps up, one step down, etc), has a very important set of rules which must be followed to make sure you are really able to step into the home which you are likely to be pursuing with competition at your heels.  The rules are the same for refinance mortgage loans; even without the time urgency of a low inventory market like the one we will still have until at least summer 2014, the urgency is there for rate locks and the threat of still-overcompensating skepticism from mortgage underwriting.  I can tell you from first hand experience the anguish of all parties when a problem which could have been avoided ends up derailing a transaction.  Here are the fundamentals one should remember when applying for a mortgage loan, heed them well.

Employment

Have you ever felt like up and quitting your job because you are so fed up for whatever justifiable, rational, perfectly understandable reason?  Great.  Do it after you close your loan; until then, do what you have to in order to make it to the closing, however intolerable your working conditions.  Similarly, nothing can be more flattering and exciting than having a more favorable job opportunity fall on your lap.  Wait to jump ship until after your loan closes, even if the income or other aspects of the job change will make you look more favorable for underwriting.  Just avoid rocking the employment/income boat if at all possible from the time of taking an application to the time your loan funds.

Credit Activity

Don't buy anything new, or originate any new "trade lines" as they are called on your credit report.  I mean any line of credit including debt secured by furniture (especially for a home you do not yet have); a car, truck, van, plane, boat, tractor, jet ski or recreational vehicle of any kind.  If this rule is followed correctly, the following rule should be followed by extension: no credit inquiries of any kind either.  A minor exception: regarding (what is currently thought to be) a 30 day window for multiple mortgage inquiries, considered by the credit bureaus (Experian, Equifax and Trans Union) as one inquiry. This takes time to "reset" and bear in mind any inquiries outside the 30 day time frame will at least require a letter of explanation and an unnecessary opportunity for an underwriter to find fault.  A final and seemingly obvious but often forgotten piece of credit wisdom; during your loan application process, don't "co-sign" for any financing for anyone.

Income Trail

Yes, it's a shame I have to mention these, but there are often all-too-overlooked rules regarding your income and savings which must be adhered to in the mortgage loan process as well.  Some of you may be surprised how often these rules in particular are ignored, and how quickly a transaction falls out because of not following income trail rules.  Do not make any large deposits into your bank accounts (at least not the ones you are using to qualify you for the loan).  Similarly, don't change the bank account or accounts you are using to qualify for the loan.  Lastly, don't spend the money you have saved for the down payment.  When the mortgage lender goes to verify your funds to close the loan and nothing is there, you can be certain things will go wrong.

Following these rules won't guarantee your loan closing, but not following them will most certainly guarantee your loan will not close.  Contact me if you have any specific questions and want to make sure you are prepared to keep and maintain your credit and income profile through the entire loan process.

Ann Stefanucci562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com

How To Tell You're In A Bad Relationship (With Your Client)

Indicators You're Relationship Has Gone Sour
(at least with your clients)

Even in my frenzied pace during a rapid fire real estate summer like the one we're having now, I manage to stumble on an article with crucial wisdom applicable to real estate practice.  Sometimes, as is the case for the source material I was inspired to use for this blog as well as the one forthcoming, I discover an article that is of equal importance to both real estate professionals and would-be clients.  While the points discussed were written as a caution to professionals as to how they treat their clients and the business implications thereof, they can easily be criteria for the would-be client as a barometer for their relationship with any service provider.  For real estate clients, buyers or sellers, most of these points I am about to discuss can help you determine whether or not to even engage in a long term relationship with the real estate agent with whom you've begun your interaction.

A word of caution for a real estate professional and their potential clients

Joseph and JoAnn Callaway, co-authors of the amazing book Clients First: The Two-Word Miracle, outline ten bad habits professionals can slip into if they are not careful.  As I mentioned, I not only find these very relevant warnings for real estate people (for which I will paraphrase specifically), but for their potential clients who will be considering the future of their professional relationship.  I will begin with the first and arguably most common bad habit found among real estate practitioners.

It's NOT about you, Mr./Mrs./Ms Real Estate Agent

The Calloways very accurately observe the necessity to have a strong ego, or 'sense of self' in business, to protect you from being taken advantage of by competitors, vendors and even clients.  One doesn't need to notice how fond real estate people are of their name and their picture to recognize how applicable the Calloway observation is for my profession.  But a big ego can weigh you down into a dangerous pitfall if you're not careful.  If you start to believe professional victories and the 'glory' which goes with them are the reason you are in the business and the end goal of your profession, you may be setting a trap for yourself.  Before you know it, and whether you can connect the behavior initially or not, you will run the risk of putting the interest of your clients behind your own and giving into further moral and ethical ambiguities.  A minefield of potentially serious and reputation-harming (not enhancing) disaster awaits.

Check yourself; specifically what you talk about with your clients

Building rapport does not mean finding common interests and subsequently working those interests back into a conversation about yourself.  This kind of arrogance is client-repellent and an indicator that you are engaging in a very bad habit.  Would-be clients who are my readers, you know instinctively when the person you are speaking with has this habit and whether you recognize it or not, a 'red flag' has been raised in your mind.  More on these habits to come in my next blog!

Ann Stefanucci
562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com

Realtor Code of Ethics Turns 100

Not A Coincidence Real Estate Ethics is Turning 100

With a shaky economic recovery in effect, all eyes are on real estate professionals

As many Americans attempt to re-enter or enter the real estate market for the first time, after having been financially shaken for an extended period, fear and trepidation are understandable.  However, now is also a time when an experienced real estate professional's expertise is urgently needed in spite of these fears.  I've met enough would-be buyers and sellers in my recent travels to convince me it is time to drive a particular point home.  Realtors have a code of ethics which is no less than 100 years old this year; let this fact stand as an assurance that generally speaking, if you are enlisting the aid of a (preferably experienced) real estate professional, you are in good hands. 

http://www.realtor.org/videos/video-origins-of-the-code-of-ethics

Real Estate is an American tradition, not just a profession

When Thomas Jefferson wrote the Declaration of Independence, and the Founding Fathers decided to "dissolve the political bands"  and become the United States of America, it's a safe bet they did not intend to rent the land the former British colonies were sitting on.  Land ownership, like home ownership, held the real life embodiment of the English Magna Carta-era sentiment "every Englishman's home is his castle" and all the promise of personal financial stability which goes with it.  Specialists in the creation and transfer of ownership of privately held real property (a rather new phenomenon in the 1700's) become welcome fixtures of the new free society emerging out of the former colonies.  The code of ethics for Realtors, established 100 years ago, sought to secure the honor of this tradition in the light of the industrial age.

How you can tell if your Realtor follows the code of ethics

There are at least a few more blogs worth of space which I will dedicate to the very worthy topic of Realtor-client relations, but for the purposes of this blog, I'll narrow some basic expectations outlined in the code of ethics turning 100 this year.   Three points stand out which provide even the most skeptical potential client some assurances.  Protect and promote your client's interest, but be honest with all parties.  Be careful at all times to present a true picture in their advertising and representations to the public.  Assure, whenever possible, that transactional details are in writing.  All of these tenants are not only good indicators of an ethical real estate professional, but their absence is usually quickly noticeable.

So put your fears aside in favor of careful observation and healthy expectation; buyers and sellers alike.  The time for Realtors to live up to their centenarian ethical code is now, while we are all called upon to restore what homeowners have lost and rebuild the economy itself one home at a time.

Ann Stefanucci
562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com

Did I Mention This Would Happen?

Mortgage Interest Rates Go UP
A little less home for your buck, but don't give up, get in the game!

The window may be closing to get the best home for your buck, but mercifully enough (for all those I've been urging for months to get off the fence), the window appears to be closing slowly.  In fact, we may have simply reached another mortgage interest rate plateau, but the ratcheting incline in rates is simply inevitable.  A 3.5% 30 year fixed mortgage rate will likely not be seen again in any one's lifetime.  But there's no crying in real estate, just like in baseball.  Today's 4.5% 30 year fixed mortgage rate still seems like fiction prior to 2008, and is nothing to shake a stick at.  In less than two years, rates will be much higher, and so will inventory levels, so home prices will likely not increase rapidly as we saw in 2000 to 2006 (a historically normal rate of appreciation is a welcome sight).  So $500,000 today will be $510,000 in two years, but rates at one to two percent higher will make the $510,000 home that much further out of reach. There is no question about it, the window is narrowing for getting the most home for your buck.  Adjust, re-calibrate, then take action and don't waste another moment thinking about missed opportunity even if it was due to your own hesitation or lapse of judgment.  Get in the game as it is now; the window of opportunity is closing but it isn't shut just yet in terms of getting the best home for your money.

Real estate agents, even for some of my readers of this blog, have the unfortunate and at least somewhat undeserved reputation of  "exaggerating" market conditions.  It was no exaggeration when the Federal Reserve announced it would scale back on buying bonds later this year; it was a trigger for the spike in mortgage interest rates.  The last month, and in particular the last three business days, have more than proven my point about urgency and lost opportunity.  I won't over use the "I told you so" motif, but unlike many users of that cliched expression, I definitely DO NOT hate to say it.  In fact, we have a gift and a reprieve; buyers and sellers still have a chance to act before the game completely changes.  Real estate agents like myself who have successfully adjusted to all kinds of market changes over many, many years are ready for the game change (which essentially means simply different players), and those real estate professionals like myself will all adjust accordingly.  But a number of you reading these words will simply not be able to be a player after the next significant mortgage rate jump; not for a long while, anyway, and I'd just as soon help you seize the day rather than wait for a second (or third or fourth) best opportunity possibly several years away.  I am not speaking scare tactics, I am not preaching fear, I am speaking from current observation and many years experience.

Buyers, I want you to get the most out of the way things are while there is still time, wherever you happen to be on the buying spectrum.  Sellers, I want you get the most out of the somewhat shallower pool of qualified buyers.  The proverbial iron may have cooled a bit, but it is still hot enough to forge a real estate victory.

Ann Stefanucci
DRE #00635764
First Team Real Estate
562-244-8021

714-822-9453
annstefanucci@gmail.com

www.annopoly.com