SANTA PAULA, CA - Manny Manzano, a high producing real estate broker with nearly 25 years of industry experience and special expertise on what it takes to qualify for a home loan today, has joined the Santa Paula/Fillmore offices of Troop Real Estate, Inc. as an agent, announces Scott Dunbar, manager of the offices.

Manzano launched his real estate brokerage career in 1988 in Santa Paula, followed by 18 years in the mortgage end of the business, including direct lending and brokerage. He operated his own brokerage firm in Oxnard from 2003 to 2011. Along with way, Manzano provided both brokerage and mortgage services.

“I believe it’s a tremendous advantage to have a mortgage background because I know exactly what it takes for buyers to qualify for a home loan in today’s challenging lending market. I feel I can quickly determine a client’s prospects. I chose to join Troop as an agent because of the firm’s name recognition, network of offices, and support,” Manzano said. He added that he expects to focus on the REO market at Troop.

A member of the Ventura County Coastal Association of Realtors®, Manzano grew up in Santa Paula, attending Santa Paula High School. He resides in Fillmore.
About Troop Real Estate, Inc.

Established in 1987, Troop Real Estate, Inc. is reportedly Ventura County’s largest brokerage and has perennially been a leader in the county’s residential market for the number and dollar volume of listings sold. The company, with approximately 650 seasoned sales professionals, provides the full range of residential, property management, REO, commercial, financial, new homes, escrow, estate homes and relocation services.

Troop offices are located in Simi Valley, Simi/Wood Ranch, Simi (Commercial), Thousand Oaks, Westlake Village, Moorpark, Camarillo, Channel Islands, Ventura, Santa Paula, Fillmore, Ojai, San Diego and Santa Clarita.

VENTURA COUNTY, CA – Reporting that the majority of its 12 Ventura County offices experienced an average of a 30 per cent increase in sales during December of 2011 over a year earlier, the top official of the region’s largest residential real estate company declared that this clearly signals growing consumer confidence.

Brian Troop, president of Troop Real Estate, Inc., said that homebuyer confidence has risen dramatically during the last year and particularly during the past three to four months.

“Buyers realize that home values have bottomed and will start to move upward. This is bolstered by ongoing reports of new job creation, approximately 100,000 per month, according to the National Association of Realtors®. People are now more comfortable with their job situation,” Troop said.

SIMI VALLEY, CA – Responding to the increased needs of consumers in an ongoing challenging housing market, Troop Real Estate, Inc., announces the unveiling of a new “go to” website tailored to assist home buyers and sellers with current market news, along with refined traditional online features.

Jeff Jarrard, who heads up website development for Troop Real Estate, Ventura County’s largest real estate firm with offices in Santa Clarita and San Diego, reports that the totally revamped site, accessed via www.troop.com, features the core property information consumers are accustomed to viewing, enhanced by vital market data to help them make important decisions.

“We have re-created our website to be more valuable to consumers because we realize the need for more information in today’s market, including the latest mortgage rate updates and general real estate trend news,” Jarrard said.

He reported that among the new website features are:
• A powerful, state-of-the-art, easy to use Property Search System.
• The ability to find the right agent easily and quickly.
• Instant access to all Troop branch offices.
• A huge library consisting of hundreds of free real estate articles covering a vast range of information, including home buying and selling tips, homeowner and renter advice, borrower’s strategies and much more.
• Easy access to contact information about various Troop services.
• A dynamic home page with daily real estate news, mortgage rates and company announcements.
• A powerful mobile site designed to work on virtually any smart phone allowing users to search for listings, agent information and office locations with the touch of a button.

“The primary purpose of the new website is to reflect Troop Real Estate’s goal of achieving 100 percent client satisfaction. Our new site provides more than just what our business offers, but a “go-to” site designed for the consumer’s benefit. Daily real estate news updates, mortgage information, rate updates and a vast amount of general information are all in one place for our clients,” Jarrard said.

He added that the new site also features a custom “video stream”, a framed video page of current news and trends covering both national and local real estate markets. Videos are updated on a regular basis and cover a diversity of residential real estate information.

Visitors to the new site who had been accessing www.troop.com, Jarrard emphasized, are asked to simply re-register via an easy to use link at the upper right hand corner of the site. Registering is quick, allowing users to take full advantage of all of the site’s features, he said.

About Troop Real Estate, Inc.
Established in 1987, Troop Real Estate, Inc. is reportedly Ventura County’s largest brokerage and has perennially been a leader in the county’s residential market for the number and dollar volume of listings sold. The company, with approximately 650 seasoned sales professionals, provides the full range of residential, property management, REO, commercial, financial, new homes, escrow, estate homes and relocation services.

Troop offices are located in Simi Valley, Simi/Wood Ranch, Simi (Commercial), Thousand Oaks, Westlake Village, Moorpark, Camarillo, Channel Islands, Ventura, Santa Paula, Fillmore, Ojai, San Diego and Santa Clarita.

“Don’t be a victim!” Ventura County Supervisor’s Kathy Long and John C. Zaragoza invite Ventura County residents to a Town Hall Meeting on Real Estate Fraud this Thursday, October 20, 2011, at 7:00PM in the South Oxnard Community Center located at 200 East Bard in the City of Oxnard.

Residents are encouraged to attend the Town Hall Meeting to learn how to prevent, detect, and report Real Estate Fraud.

Victims of Real Estate Fraud crimes should not stay silent, Supervisor Kathy Long urges residents, “If you think you have been a victim of fraud or approached by a scammer, take action and join us this Thursday to hear how you can help prevent this from happening to someone else in our community.”

The Town Hall Meeting will inform residents on the warning signs of fraud, what type of Real Estate scams exist, what type of assistance is available and how to protect yourself and your family from getting scammed.

Supervisor John C. Zaragoza states, “As we experience an increase of Real Estate Fraud scams, being informed in how to stay protected is critical especially if you or someone you know is facing foreclosure or have concerns about a home loan.”

Come hear experts from SurePath Financial Solutions, Cabrillo Economic Development Corporation, Ventura County Real Estate Fraud Advisory Team (REFAT) and the Ventura County District Attorney’s Office.

For questions regarding the Town Hall Meeting please contact Supervisor Long’s office at 805-654-2276, or Supervisor Zaragoza’s office at 805-654-2613.

Realtors® strive to preserve and expand housing opportunities for all Americans, and that’s particularly important for public and private sector workers. To address a nationwide shortage of workforce housing, the National Association of Realtors®, in partnership with the National Housing Conference, will host a forum today in Washington, D.C.

Bring Workers Home is part of a series of three regional forums hosted by NAR and NHC to develop solutions to the country’s workforce housing shortage. The D.C. forum will explore the nature of the workforce housing challenges in the Mid-Atlantic region and highlight some of the area’s successful housing programs and best practice efforts currently underway in D.C., Maryland, Pennsylvania and Virginia.

The forum will immediately follow the NHC and the Center for Housing Policy’s Solutions for Sustainable Communities:2011 Learning Conference on State and Local Housing Policy, and will continue the theme of building strong communities by showcasing effective workforce housing solutions designed to keep up with emerging challenges and to leverage collaboration among a variety of partners.

“Realtors® work hard to build stable communities, and with a lack of affordable housing opportunities, those communities suffer,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “As home costs continue to outpace wages, many individuals and families can no longer afford homes near their workplaces. This leads to things such as longer commutes and traffic congestion, which ultimately lessens the quality of life for all residents. The Bring Workers Home forum gives Realtors® the chance to work with local employers, community organizations and officials to closely examine this crisis and work together to offer solutions.”

Today’s forum will feature remarks from D.C. Council Member Michael Brown about why workforce housing matters and strategies to address the housing needs of the community’s working families. Keynote speaker Dr. Hassan Minor from Howard University will offer an employer’s perspective, discussing the benefits that employer-assisted housing programs provide to employers, their employees and the community. In addition, two afternoon panels will share case studies of successful workforce housing programs and discuss strategies for advancing workforce housing through community partnerships.

“It’s encouraging to see employers recognize the value of workforce housing and how it affects their employees and ultimately their bottom line,” said Phipps. “Communities across the country are also beginning to realize the link between workforce housing and their communities’ economic and social well-being. However, there is still a lot of work to be done and this forum is one step toward addressing workforce housing needs.”

More than 100 attendees are expected at the forum, including Realtor® associations and Realtors®, employers and human resource professionals, urban and regional planners, housing and community development leaders, and local officials, as well as those involved in local housing issues.

The series of Bring Workers Home forums are taking place throughout 2011 in Boston; Washington, D.C.; and Portland, Ore. Visit www.realtor.org/housingforums for more information.

For 80 years, the nonprofit National Housing Conference has been the nation’s premier public policy and housing advocacy organization. To learn more about the National Housing Conference and its research affiliate, the Center for Housing Policy, go to www.nhc.org.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

National Association of Realtors

The National Association of Realtors®’ HouseLogic, a free, comprehensive consumer website about all aspects of homeownership, today launched Operation Home Relief, a new Facebook Causes campaign. The campaign aims to increase awareness, rally support and raise funding for USA Cares, a nonprofit organization that provides counseling and financial foreclosure assistance to post-9/11 active duty U.S. military service personnel, veterans and their families.

HouseLogic will donate $1 to USA Cares every time someone “likes” the Operation Home Relief Cause page on Facebook and will match individual donations made to the cause, up to $20,000.

“Owning a home is part of the American dream, where we make memories, build our futures, and feel comfortable and secure; and any family who loses that dream to foreclosure is one family too many,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “HouseLogic’s Operation Home Relief aims to help sustain homeownership for military families who have already given so much to support our country, and we hope others will join together with us to support this worthy cause.”

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It’s been five years since Hurricane Katrina came roaring into the Gulf Coast, dramatically changing New Orleans and the lives of those who called it home. While there is very little homeowners can do when facing a natural disaster of that magnitude, the anniversary – and the current threat from Hurricane Danielle – is an important reminder that with a little planning and preparation, homeowners can better protect their home and family from a disaster.

The experts at HouseLogic – a free, comprehensive consumer website about all aspects of homeownership – say that with research and a little work homeowners can quickly develop a plan that will help them reduce losses and recover faster following a natural disaster.

“Families build their futures through homeownership, and HouseLogic should be a homeowner’s first stop when it comes to increasing, maintaining, and protecting the value of his or her home,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “Sometimes it’s unpleasant to think about disaster plans and preparing for the unknown but it’s an important thing for homeowners to do to ensure the continued safety of their family and homes.”

According to HouseLogic, homeowners should begin their natural disaster preparations by developing a plan. A good disaster plan includes not only an emergency preparedness kit, with important papers, food and water, and extra blankets and flashlights but also a well-thought out plan for how family members will evacuate and communicate – making sure that everyone in the family is familiar with the plan and knows what to do and where to go in case of an emergency.

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Commercial real estate sectors, hurt by weak job growth, are offering incentives in many areas that are conducive to business expansion, according to the National Association of Realtors®.

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National Association of Realtors

The National Association of Realtors® today commended the Federal Housing Finance Agency for taking steps to restrict government-sponsored enterprises – Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks – from investing in mortgages with private transfer fee covenants.

A private transfer fee, often attached to a property by a developer, is a fee due to the developer each time the property is resold. The term of some covenants can extend for 99 years. NAR is a leader of a coalition that strongly opposes such fees.

“NAR is the leading advocate for private property rights and housing issues and we firmly believe that private transfer fees add an unnecessary burden to the real estate transaction and can delay a closing or even kill the transaction. There is no service performed for such fees and they add nothing to the value of a property,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates, Tucson, Ariz. “FHFA is to be commended for proposing a guidance that would ban this unnecessary fee.”

FHFA, as required by law, has sent a Notice of Proposed Guidance to the Federal Register for publication and seeks public comment on its proposal. The public comment period on the proposed guidance will be open for 60 days after the notice is published.

Twelve states enacted legislation in 2010 that ban private transfer fees. They are Arizona, Delaware, Hawaii, Illinois, Iowa, Maryland, Louisiana, Ohio, Mississippi, Minnesota, North Carolina and Utah. A growing number of other states have indicated they are considering similar actions.

The Federal Housing Administration has also denied its home loan programs to transfer fees.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

National Association of Realtors

Testifying before a House panel today, Jim Helsel, treasurer of the National Association of Realtors® and commercial real estate specialist, told members that a strong commercial real estate sector is vital to millions of U.S. jobs and helps keep the national economy afloat.

“As the leading advocate for private property rights, NAR believes it is critical for Congress to act soon and to get capital flowing to small businesses and to the commercial real estate market,” Helsel, president of Helsel Inc., Realtors®, in Camp Hill, Pa., told the House Committee on Financial Services.

“Lack of available credit remains a significant challenge for our industry right now,” Helsel said. He commended the panel for passage in June of H.R. 5297, “The Small Business Lending Fund Act of 2010,” which ensures community banks have both the incentive and capacity to increase total loans to small businesses. Raising the SBA loan limits and allowing SBA 504 loans to be used to refinance performing property can help ease the liquidity crisis in the commercial sector, he said.

Another credit avenue, credit unions, could increase available credit to small businesses, Helsel said. NAR strongly supports legislation, H.R. 3380 introduced by Reps. Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.), that would raise the credit union member business lending cap from 12.25 percent to 25 percent of total assets. Currently, small regional and community banks account for almost half of the small business loans issued in the U.S.

“That has put a significant dent in the credit available to the small business community and has reduced cash flow and elevated vacancies in commercial real estate,” he said. The Credit Union National Association estimates that if H.R. 3380 becomes law, credit unions could extend up to $10 billion in additional business loans and help create 108,000 jobs. Helsel said NAR is strongly urging the Senate to include such provisions when it considers H.R. 5297.

Helsel also said that NAR supports the Senate’s efforts to include more generous depreciation allowances for commercial properties in the Senate bill. “Accelerated depreciation would incentivize new equity investment to commercial real estate, reducing debt-to-income ratios and strengthening income-producing properties,” he said.

NAR also applauds the goals of H.R. 5816, the “Commercial Real Estate Stabilization Act,” to clear troubled properties off the market, and is ready to work with the committee when it begins to review the proposal, Helsel said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The House today approved a flood insurance reform bill that would reauthorize the National Flood Insurance Program to September 30, 2015, a provision strongly supported by the National Association of Realtors®.

Passage of H.R. 5114, the Flood Insurance Reform Priorities Act, would strengthen the NFIP and bring certainty to many real estate markets that are much in need, NAR said, and commended Rep. Maxine Waters (D-Calif.) for marshalling the bill through House passage.

“This longer-term reauthorization of the NFIP is critical to millions of taxpaying American families who rely on the program for flood insurance, which is required to obtain a mortgage in nearly 20,000 communities across the nation. This would restore flagging confidence in a vital program by ensuring its continuation for several years without further disruption to real estate markets upon which our nation’s economic recovery depends,” said Vicki Cox Golder, NAR president and owner of Vicki L. Cox Real Estate in Tucson, Ariz.

Golder noted that the authority has been allowed to expire twice in the past two years while Congress approved eight short-term extensions, resulting in multiweek delays if not cancellation of thousands of real estate transactions. Such stop-gap measures have caused many hardships and lost sales for property buyers, sellers and their communities, she said.

The bill now heads to the Senate where the prospects of passage are not clear.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

National Association of Realtors

The National Association of Realtors® today commended Congress for timely passage of two bills to extend the home buyer tax credit closing deadline and reauthorize the National Flood Insurance Program. Both bills, strongly supported by NAR, had cleared the House earlier and were passed by the Senate last night. They now head to the president for his signature.

The tax credit closing deadline and the NFIP reauthorization were extended to September 30. NAR worked closely with congressional leaders on both sides of the aisle to enact these important pieces of legislation. Extending the tax credit closing and flood insurance deadlines will help provide additional stability to real estate markets across the nation, NAR said.

“What a great way to begin celebrating our nation’s most patriotic holiday by opening the door to the American dream of homeownership to thousands of home buyers who would have been shut out of the homes of their dreams through no fault of their own,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox Real Estate in Tucson, Ariz.

“We know that up to 180,000 home buyers eligible for the tax credit are rejoicing this morning. And we all thank both houses of Congress for their work to ensure passage of both bills,” Golder said. She singled out Senate Majority Leader Harry Reid (D-Nev.), Senate Minority Leader Mitch McConnell (R-Ky.), Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.), Senator Johnny Isakson (R-Ga.), House Majority Leader Steny Hoyer (D-Md.), Congresswoman Shelley Berkley (D-Nev.) and Congressman Joe Courtney (D-Conn.) for their efforts to extend the tax credit closing deadline.

The passage of H.R. 5623, the Homebuyer Assistance and Improvement Act, applies the homebuyer tax credit closing deadline extension only to homebuyers who have ratified contracts in place as of April 30, 2010, but could not close before June 30. The legislation is designed to create a seamless extension of the new closing deadline for eligible transactions to September 30. There will be no gap between June 30 and the date the president signs the bill into law.

For more information on the extension, visit www.realtor.org/government_affairs.

Senate passage of the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), reauthorizes extension the NFIP until September 30, allowing currently stalled transactions to move forward. The bill is retroactive and covers the lapsed period from June 1, 2010, to the date of enactment of the extension. Any new policy applications or renewals that were signed and submitted during the lapsed period will be effective from the date of application. In the case of waiting periods, the waiting period will start from the date of application.

“We know that thousands of property owners seeking flood insurance policies will now be able to close transactions. NAR appreciates the extraordinary efforts in both houses of Congress to end the lapse in flood insurance,” Golder said. She singled out Senate Majority Leader Reid, Senate Minority Leader McConnell, Senate Banking Committee Chairman Dodd, Senator David Vitter (R-La.), House Financial Services Committee Chairman Barney Frank (D-Mass.) and Congresswoman Maxine Waters (D-Calif.) for their efforts on NFIP reauthorization.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The Ventura County Coastal Association of Realtors®, (VCCAR), today voiced its full support to the Ventura County District Attorney’s office in its efforts to bring to justice the 13 individuals, seven of whom were real estate agents, arrested in connection with filing fraudulent loan applications.

VCCAR President Susan Herrick stated that the local Realtors® association is proud of its relationship with the Real Estate Fraud Advisory Team, (REFAT), of which it is a founding partner, and working with Senior Deputy District Attorney Miles Weiss, head of the Ventura County Real Estate Fraud Prosecution Program, which resulted in the arrests.

“We are pleased that our members participated in this effort in identifying and curtailing this kind of real estate mortgage fraud and hope these efforts continue,” Herrick said.

Steve Goddard, president of the California Association of Realtors®, (C.A.R.), added that the state association, which has 160,000 members, and includes all Ventura County Realtors®, has a long-standing commitment to ethical practices for real estate practitioners.

“C.A.R. was an advocate in support of SB-537, legislation passed in 1995 that created the resources to fund the fraud enforcement activities of law enforcement agencies, including the Ventura County District Attorney’s Fraud Unit,” Goddard said. “The legislation imposed a $4.00 fee on real estate recordings, which counties could opt in to, with the proceeds supporting fraud enforcement efforts at the local level. It’s gratifying to witness the results in Ventura County,” Goddard said.

The Ventura County Coastal Association of Realtors® represents real estate practitioners in the cities of Ventura, Oxnard, Camarillo, Santa Paula, Fillmore and Port Hueneme in West Ventura County.

National Association of Realtors

Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors®. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.

Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.

Lawrence Yun, NAR chief economist, said he expects one more month of elevated home sales. “We are witnessing the ongoing effects of the home buyer tax credit, which we’ll also see in June real estate closings,” he said. “However, approximately 180,000 home buyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales.

“In addition, many potential sales are being delayed by an interruption in the National Flood Insurance Program. Florida and Louisiana, also impacted by the oil spill, have the highest percentage of homes that require flood insurance.”

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National Association of Realtors

The National Association of Realtors® applauded the House for overwhelming passage of FHA reform legislation that would allow the Federal Housing Administration to adjust monthly premiums on mortgage insurance.

This bill, H.R. 5072, FHA Reform Act of 2010, would strengthen the FHA loan insurance program while keeping it available and affordable to responsible home buyers. Allowing FHA to raise the monthly insurance premium would let FHA lower the up-front premium that places a burden on cash-strapped borrowers at closing.

“As the leading advocate for homeownership and housing issues, NAR is very pleased that FHA will be allowed to play its intended countercyclical role to provide qualified borrowers with access to prime credit. FHA is a critical part of our nation’s economic recovery,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz.

En route to passage, the House defeated an amendment that would have increased the FHA down payment from 3.5 percent to 5 percent, which would have disenfranchised more than 300,000 potential homeowners and would not have contributed significantly to FHA cash reserves.

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Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator, rose 6.0 percent to 110.9 based on contracts signed in April, from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6. That follows gains of 7.1 percent in March and 8.3 percent in February.

Pending home sales are at the highest level since last October when the index reached 112.4 and first-time buyers were rushing to beat the initial deadline for the tax credit. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said this second round of surging sales from the tax credit extension looks as strong as the original tax credit. “There were concerns that only a small pool of buyers were left to take advantage of the tax credit extension. But evidently the tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales,” he said. “The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus, provided the economy continues to add jobs.” NAR expects a net of 1 million additional jobs in the second half of this year and about 2 million in 2011.

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National Association of Realtors

More than nine out of 10 home buyers use the Internet as a search tool, and Realtors® at the Midyear Legislative Meetings & Trade Expo here this week are engaged in ways to improve and enhance consumers’ online real estate experience.

“The Internet has helped transform the real estate industry, and Realtors® are committed to the evolution of online tools and resources,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “It’s one more way we bring value to home buyers, sellers and investors.”

Realtor.com President Errol Samuelson joined Realtors® at the “Fixing Failure Points in Online Real Estate” session. Samuelson explained that the use of mobile applications is experiencing explosive growth.

“In three or four years, more people will access the Internet with their mobile devices than with a computer,” Samuelson said. “Counterintuitively, phone response will become even more important as potential clients shift more to mobile devices.” To prove his point, he cited a recent test of real estate agents with an online presence and potential buyers who tried to call an agent after visiting his or her website, which found that 70 percent of consumers who got voicemail hung up without leaving a message.

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National Association of Realtors

A growing number of metropolitan areas are experiencing price gains from a year ago, while most states have seen healthy gains in home sales from the first quarter of 2009, according to the latest survey by the National Association of Realtors®.

In the first quarter, 91 out of 152 metropolitan statistical areas1 showed higher median existing single-family home prices in comparison with the first quarter of 2009, including 29 with double-digit increases; three were unchanged and 58 metros had price declines. In the fourth quarter 67 areas reported gains and 123 were down, while only 30 MSAs in third quarter of 2009 showed annual price increases.

The national median existing single-family price was fairly flat at $166,100, down 0.7 percent from the first quarter 2009 price of $167,300. The median is where half sold for more and half sold for less. Distressed homes, which typically are discounted by 15 percent relative to traditional homes, accounted for 36 percent of first quarter sales.

Lawrence Yun, NAR chief economist, said stabilizing home prices are encouraging. “This flattening in home prices is something we’ve been seeing in all of the home price measures lately, and quite clearly in this metro area price report,” he said. “The tax credit has been very effective in drawing down excess inventory, with about one million additional sales resulting directly from the stimulus.”

Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate2 of 5.14 million in the first quarter, down 14.0 percent from a surge of 5.97 million in the fourth quarter, which was driven by the initial tax credit. However, first quarter sales remain 11.4 percent above the 4.61 million-unit level in the first quarter of 2009. “Year-ago comparisons are more meaningful in this report due to sales swings from the tax credit,” Yun said.

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Pending home sales rose in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten,” he said. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.”

The PHSI in the Northeast rose 9.0 percent to 77.7 in February and is 18.9 percent higher than February 2009. In the Midwest the index jumped 21.8 percent to 97.9 and is 18.7 percent above a year ago. Pending home sales in the South increased 9.2 percent to an index of 107.0, and the index is 17.5 percent higher than February 2009. In the West the index fell 4.8 percent to 98.0 but is 14.6 percent above a year ago.

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Rental Scams Issue Date: February 18, 2010 v1

Summary: Unscrupulous people find homes listed for sale and post those same homes on a community posting board, like CraigsList, for what seems like an incredibly reduced rental price. The posting may have statements that sound credible to a would-be renter (i.e. Last minute job relocation, Death in the family, etc.) and urge them to send their reduced price deposit and first month’s rent to a specified address or wired to a specified account - the lease agreement to be signed later. In exchange, the key to the home will be left where the would-be renters can find it. Would be renters then send the money thinking they have rented a home.

Occupied homes for sale: Homeowners may be faced with a stranger(s) showing up to move into their home.

Vacant homes for sale: Would-be renters may not realize they’ve been scammed until a potential buyer or real estate agent shows up to view the home they’ve “rented”. In some cases, neighbors or contractors may notice that someone is on the property that shouldn’t be there and law enforcement is called to investigate.

Homeowners and would-be renters are urged to contact local police to report the crime.

Homeowners are also encouraged to notify the community posting board (i.e. CraigsList) if there is an unauthorized posting of their home for rent. They will expediently remove any unauthorized or disputed posting.
Would-be renters are encouraged to review CraigsList information on Avoiding Scams & Fraud:
DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on craigslist. NEVER WIRE FUNDS VIA WESTERN UNION, MONEYGRAM or any other wire service - anyone who asks you to do so is a scammer. CRAIGSLIST IS NOT INVOLVED IN ANY TRANSACTION, and does not handle payments, guarantee transactions, provide escrow services, or offer "buyer protection" or "seller certification" NEVER GIVE OUT FINANCIAL INFORMATION (bank account number, social security number, eBay/PayPal info, etc.) AVOID DEALS INVOLVING SHIPPING OR ESCROW SERVICES and know that ONLY A SCAMMER WILL "GUARANTEE" YOUR TRANSACTION.

If you suspect that you, a family member, or friend has fallen victim to real estate fraud and don’t know where to turn, call Ventura County’s 2-1-1 hotline to get the referral you need to the appropriate agency. Cell phone users dial: 800-339-9597.