What Are Gift Funds and How to Handle Them

When buying a home gift funds are funds given to the buyer by any blood related member of the family or a fiancee, domestic partner for the purpose and being used for the purchase of a home.  The donor can not be affiliated to the builder, developer, real estate agent, or any other person involved in the transaction of the purchase of the home.

FHA and Conventional Guidelines differ so it is important to look under the loan you are planning to use. (Your lender can give you that information)

FHA Guidelines   (Items Needed)

1.  Gift Letter

2. Documentation of the donor's ability to gift:

• Provide donor's bank statement showing name of donor, account number, and balance.     (Bank statement must be unaltered no whiteout or erasers) 
• Or, provide a letter from the donor's bank verifying available assets.  Letter to include ALL of the following information:
• Name on account
• Account Number
• Verification of sufficient funds to cover the amount of gift

3.  Document transfer of gift funds from the donor to the borrower.  (Cash withdrawals/transfers are NOT considered allowable funds)

      Deposit into bank account:

• If you deposit into a bank account:  A copy of the cashier's check or cancelled personal check reflecting name of donor, borrower and bank account number shown on the gift letter or evidence of withdrawal from donor's bank account. 
• Copy of the deposit slip for the gift and bank receipt showing deposit and available balance (OR)

      Deposit directly to escrow:

• Copy of cashier's check reflecting name of donor, borrower and bank account number shown on the gift letter.
• Copy of deposit into escrow  (OR)
• Funds wired directly into escrow from donor's account designated on gift letter
• Copy of the wire transfer

Conventional Loan Guidelines:

1.  Gift Letter

2. Document transfer of gift funds from the donor to the borrower (Cash withdrawals/transfers are NOT considered allowable funds)

       Deposit into Bank Account:

• Copy of cashier's check or cancelled personal check reflecting name of donor, borrower, and bank account number shown on the gift letter or evidence of withdrawal from donor's bank account.

• Copy of the deposit slip for the gift and bank receipt showing deposit and available balance  (OR)

      Deposit directly to escrow:   Same as above                  

                             

                                                    Information Provided by Vitek

Greater Sacramento Market Update

SACRAMENTO HOME SALES SPRING FORWARD

February median sold price marks highest since November 2007

March 10, 2015

In February, 2,504 new open escrows represented the highest number posted in the Greater Sacramento region over the past 10 months. This figure, coupled with an already solid January signified a 35% jump over the new pending sales posted for November and December. The number of active and available homes for sale dropped to just 4,030 and left the market area with its lowest inventory since January of 2014. This information was provided by Trendgraphix Inc., a Sacramento based reporting company, and conveyed by Lyon Real Estate.

“Our market is currently in a strong seller’s position,” says Pat Shea, president of Lyon Real Estate. “While 4 to 6 months of inventory typically signifies advantage seller, our entire region currently holds a mere 1.6 months based upon the rapid pace of new open sales and sluggish rate of new property listings.”

All four counties in the region showed tight inventory based upon the current rate of new sales. Sacramento County concluded the month with 2,217 homes available on the market, the lowest since June of 2013, and demonstrated the county’s highest new open escrows - 1,600 – since May of 2013.

Placer County holds 133 luxury listings specifically, $900,000 and above. That number is almost twice that of Sacramento and El Dorado counties. Removing the luxury listings and pending sales where fewer sales occur, Placer County ended February matching the region’s average of a 1.6 month supply of available homes.

“The February median sold price of $320,000 for the Greater Sacramento Region is another big story,” says Shea. “This level has not been reached since November of 2007 and again signifies the overall health and vibrant outlook for the remainder of 2015. Low interest rates continue to support buyers. New properties entering the market however, will remain the most critical key to sustained momentum.”

 About Lyon Real Estate

Lyon Real Estate is ranked the number one brokerage in annual home sales in the greater Sacramento region and has served the area for more than 65 years. In 2014, the company closed 7,553 transactions worth a total of $2.61 billion in sales volume. Lyon Real Estate has 961 agents in 17 offices located throughout the region. The company is a member of the Leading Real Estate Companies of the World® (LRE), the largest network of premier locally-branded firms, as well as LRE’s Luxury Portfolio International program. In addition to its real estate services, Lyon Real Estate offers RELO Direct, a global relocation program. For more information about Lyon Real Estate, click to www.GoLyon.com and follow us on Facebook/Lyon.

About TrendGraphix, Inc.

TrendGraphix, Inc. is a real estate reporting company based in Sacramento that uses local Multiple Listing Service (MLS) data to provide highly-visual market statistical graphs to real estate brokers, agents, and MLS/Realtor associations across the country. TrendGraphix’s programs are currently used by tens of thousands of agents in more than 100 brokerages in 18 states. For more information about TrendGraphix, visit www.trendgraphix.com

19 Great Freebies for Your Birthday (From: You Magazine)

Since it is my birthday today I wanted to share these with everyone.

19 Great Freebies for Your Birthday
By Cameron Huddleston, Kiplinger.com

 

When your birthday rolls around, don't be distressed that you're another year older. Don't worry that you have another line on your face or a few (more) gray hairs. Instead, embrace the day as a golden opportunity to score freebies for yourself.

That's right, dozens of establishments will give you special treats on your special day. Here are 19 that offer you birthday freebies that truly are free—you don't have to purchase anything to get them. Enjoy.

Au Bon Pain. You can get a free birthday lunch by signing up for the eClub. You also get a free travel mug when you join.

Baja Fresh. Get a free birthday burrito by joining Club Baja.

Barnes & Noble. Kids get a free cupcake on their birthday (and 30% off the list price of a kids' book or toy) by signing up for the Barnes & Noble Kids' club.

Baskin-Robbins. You can get a free 2.5-ounce scoop on your birthday (plus $3 off a birthday cake) if you sign up for the Baskin-Robbins Birthday Club atwww.baskinrobbins.com.

Bruster's Real Ice Cream. Sign up for the Sweet Rewards e-club to get a free waffle cone on your birthday (as well as coupons and other offers throughout the year).

California Pizza Kitchen. Children receive a coupon for a free birthday CPKids meal by joining the CPKids Birthday Club (ask about membership at a California Pizza Kitchen location). Club members who celebrate their birthday at a California Pizza Kitchen receive up to 10 free meal certificates to give guests at their party and a free meal for themselves at the party. Even kids who aren't members of the CPKids Birthday Club get a free sundae on their birthday.

Captain D's. Kids 12 years old and younger get a free kids meal on their birthday if they sign up for the Kid's Birthday Club.

Denny's. Get a free Grand Slam breakfast on your birthday.

Friendly's. You'll receive a free "Happy Ending Sundae" on your birthday if you sign up for the BFF Club.

Houlihan's. You'll be treated to a free entree on your birthday by joining the Houlihan'semail list.

IHOP. If you join the Pancake Revolution, you'll get a "Rooty Tooty Fresh 'N Fruity Pancakes" meal on your birthday.

Jamba Juice. Sign up for Jamba Insider Rewards for a free birthday smoothie or juice.

Moe's Southwest Grill. Get a free burrito on your birthday by joining Moe's E-world.

Pinkberry. Get a free frozen yogurt on your birthday by joining the Pinkberry loyalty program.

Red Robin. Sign up for the eClub to get a free burger on your birthday.

Ruby Tuesday. You can get a free burger on your birthday if you join Ruby Tuesday's So Connected program.

Spaghetti Warehouse. Get a free meal on your birthday by joining the eClub.

Starbucks. You can get a free birthday drink or treat (and a coupon for 15% off a purchase at StarbucksStore.com) by joining the My Starbucks Rewards loyalty program.

Zaxby's. Receive a free meal deal (an entree with fries and a drink) and a nibbler for your birthday by joining the Zax Mail Club.

Plenty of other restaurants, such as Applebee's and Red Lobster, offer unspecified birthday freebies for subscribing to their e-mail lists. And several restaurants offer freebies with a purchase. If you don't see your favorite establishment on the list, it doesn't mean that you can't get a freebie there on your birthday. Ask your server or the store clerk about birthday specials. 

Amazing Apps for Your City Adventures

Spring is here so it is fun to get out and about.  

Rediscover Your City With These Amazing Apps

 

If you want to get to know a new place you can certainly try searching Google and Yelp. But, if you'd rather uncover those hidden gems even longtime locals don't know about, be sure to check out these four apps. Best of all—they're free!

Kamino is an "urban hiking" app that features user-generated walking tours to help people get to know their locale. After registering, select a route. The app will then guide you to the starting point of the "hike" and provide the distance and estimated time required. After that you can create your own hikes to share with others. Apple devices only.

Mosey allows users to select locations around a search term or theme such as "I want coffee" or "I want to shop." The app then generates a list and map to follow at your leisure. You can follow along with others or create and share your own "Moseys" within the app. Apple devices or web.

Jauntful formats its city guides especially for printing. This comes in handy if you can't or don't wish to be connected to your phone 24/7. You can also create your own guides and hand a beautifully designed map to friends and visitors. In addition to user-generated guides, Jauntful features guides from partners like "Saveur" Magazine and the Andaz hotel chain. Web only.

Field Trip by Google pulls in geo-tagged content from other sites like Atlas Obscura, Architizer, Thrillist, Cool Hunting, and Eater, across a range of categories like architecture, historic places, or "cool & unique," then notifies you when you're close to a site of interest. Like everything else by Google, there's a ton of good information, but the app won't let you customize your own explorations for sharing with others—yet. For Apple, Android, Google Glass.

Source: Gizmodo

16 Essential Tips to Navigating Airports From: Traveler.com)

With spring break and summer coming up these tips can be priceless.

With airports that seem busier than ever, airline staffing reductions creating longer lines at check-in and airport security wait times that can be entirely unpredictable, these days the old airport "two-hour" rule often leaves just minutes to spare to buy a magazine, grab a snack or hustle your kids into the bathroom. Saving a few extra minutes here and there along the way can add up in your favor; here are 16 tips to get you from your front door to your seat on the plane as quickly and painlessly as possible -- as well as some ideas to keep you moving no matter what is going on with your flight.

Get Ahead of the Game
1) Sign up. The TSA's PreCheck, a trusted traveler program, has spread to more cities across the U.S. and is now available at some 40 airports. Members of the program are pre-screened and can then whiz through security, sometimes without having to take off their shoes or remove laptops from cases. The U.S. Customs Department's Global Entry program (see GlobalEntry.gov) is another shortcut for frequent international travelers, especially as the federal government contracts and customs lines potentially get longer.

2) Gear up. Personally, I have found that buying more stuff is not always the best solution to travel problems, as one of the most serious travel problems for many people is having too much stuff in the first place. But there are a few items that are useful enough away from the airport to justify buying mostly for the airport, including slip-on shoes, clear zip-shut sundries bags and TSA-friendly laptop cases to help speed you through security.

 11 Versatile Travel Essentials You Can't Do Without

Before You Leave Home
3) Check flight status. I feel like this tip is almost so obvious that I should not even include it, but I find that even in my own travels, I often fail to do this one simple but critical thing. Then this summer, I almost got burned. A very early morning flight for my son and me was canceled; luckily, I have a TripIt account, and found out about the cancellation before anyone else in the house was even awake. Had that not been the case, I am certain that in the rush to leave before dawn, I would not have checked flight status, and would have gotten a ride to the airport with all our stuff, waved goodbye, headed into the terminal, stood in line and only then discovered the cancellation. So -- check flight status.

I recommend doing the same before abandoning your ride or your car just before you head to the terminal; flight status updates change by the minute, so a last-second check is always a good idea.

Most airlines will text you flight status updates if you sign up on their Web sites, and sites like FlightStats.com and TripIt.com will do the same by text, on the Web and through smartphone apps.

4) Check in online. Especially if you are not checking bags, this can save you a heap of time. I have found that when checking bags, having the pre-printed boarding pass in your hand doesn't help all that much, and check-in agents often reissue another boarding pass when you check in your bags -- but it sure doesn't hurt.

5) Before you leave for the airport, put your ID, credit card and boarding pass (if applicable) in an easily accessible part of your wallet or bag. There are two reasons for this: one, by going through this exercise, you make sure that you don't leave home without these crucial items. Two, you don't waste your (and other people's) time fumbling around for them at the moment you need them.

6) Pack everything else out of reach. Clutter is the enemy of smooth passage through the airport; pack out of reach and sight anything that you will not need between your front door and your airplane seat.

 What Not to Pack

7) Check the airport parking situation online. Knowing ahead of time where to park, which lots are open and how far they are from the terminal can save you a lot of anxiety on your drive in, as well as keep you safer as you navigate tortuous and almost always poorly marked airport ring roads. Additionally, during peak travel periods, lots fill up quickly, so you will want an alternate parking plan.

Many airports are adding parking lot status updates to their Web sites, while others have automated telephone information. While too many airports are doing the bare minimum in this regard, particularly with a service that is so essential to their business and often so confounding for travelers, consulting the info they do post can still often save you headaches when you arrive at the airport. As a side benefit, parking prices are usually displayed, so you can save money as well. At the very least, check the maps so you know where you are going; these also typically show the location of cell phone waiting lots, which can be useful to folks picking you up.

Off-airport lots are also worth considering, both for the ability to reserve a spot in advance and for price savings in many cases.

8) Check the airport maps, hotel shuttle info and rental car counter details for your destination airport. If navigating your home airport is relentlessly confusing, it will be even worse at an unfamiliar airport at your destination. Flight status updates frequently include the likely arrival gate, so checking the maps at your destination airport can help you get through the baggage pickup, find the rental car counters or shuttle pickup locations, and find rendezvous spots for shuttles to your airport as available. If someone is picking you up, you can also pre-arrange a pickup location so he or she can find you without too much hassle.

At the Airport: Before Check-In
9) Prep your documents. Before you get in line to check in, or at least before you get to the front of the line, dig out and have in hand all the items and documentation you will need to check in. Having this stuff out makes everyone happy -- you, airline agents and the people behind you in line who appreciate your efficiency.

10) Weigh your bags. Many airports are installing scales in front of the check-in areas; if you suspect your checked bag might be overweight, weigh it before you get in line, and do any swapping between your bags before you reach the check-in counter. This also avoids any scrutiny from the check-in agents about your carry-on bag starting to swell (another topic altogether, which I won't go into here).

If you are really serious about baggage weight, you can even weigh bags at home -- buying your own luggage scale is inexpensive and will prevent surprises at the airport.

Between Check-In and Security
11) Stow everything except your ID and boarding pass in your carry-on bag. This way, when you get to the front of the security line, you are not finding stuff in random pockets, messing with your phone, dropping credit cards and keys (or losing them -- I have seen it happen), spilling crumpled cash all over the place and generally ticking off everyone behind you. By the time you get in the security line, you should be as close to ready to go through the actual security machine as possible.

12) Take inventory of what you will need to do when you get to the front of the security line. Do a quick mental review of everything you are wearing that you will need to remove (such as shoes, jewelry, watch, jacket), and what you have inside your carry-on bag that might need to be taken out (liquids, electronics). When you get to the front of the line, blast through your mental inventory and make it happen. Done well, you can go from fully clad for winter weather, with laptops and iPads in your bag, to a T-shirt, pants and socks, and all your sensitive electronics in their own bins, in seconds.

 Airport Security: Your Questions Answered

On the Other Side of Security
13) Check the flight status boards again. Unless you are really early, your actual flight time is getting close, and this is when you will start to see gate changes and more reliable departure time estimates.

14) With that said, though flight status boards are your first stop for directions, go directly to your gate for any breaking information. The official system updates sometimes lag behind reality, so you want to check in at your gate to make sure nothing has changed. Beyond finding out your flight status, by showing up at the gate you will get a sense of how crowded the flight is, figure out what kind of terminal amenities there are and more.

Troubleshooting
15) Program airline 800 numbers into your phone. If you get stuck due to a delayed or canceled flight, you are going to want to be proactive in figuring out your options, as airline folks are typically understaffed and under siege in these situations. If you have the phone numbers of airlines that fly your preferred route programmed into your phone, you will get a lot farther a lot faster than if you don't.

 Airport Delays: Six Ways to Cope

16) Download apps that help. When the previously mentioned flight with my son was canceled, TripIt notified me very early on, and also gave me access to a list of other flights on the route for that day, both on my original airline and on other airlines. When I called my airline armed with this info, I was rebooked in minutes, and we went to the zoo for the morning.

69 Year History of Lyon Real Estate

Why we stand proud:

·         Founded by William Lyon 1946

·         Med Home Price $9,564

·         1^st women sales person in 1950

·         By 1960 grew to 10 office

·         Med Home prices $15,100

·         1970 Med Home Prices  $23,100

·         Lyon introduced lawn signs in 1980

·         Purchased 1^st digital camera for $15,000

·         1 photo per 31/2in floppy disk

·         First time homes had pictures on line

·         1990, home prices $130,700 

·         Lyon added 5 offices

·         2000’s Lyon went global and founded Leading Real Estate Companies of the World

·         Creates Trend Graphic’s home statistics made easy for clients to understand the market. Today Trend graphic’s is used by all the major brokers.

·         Lyon opens 5 more offices and a top notch training facility to provide highly trained business professionals

·         2006 celebrated 60 years in business and recognized as best business and leadership practices by Sac Business Journal

·         Sacramento Magazine and Business Journal has awarded Lyon as the best Real Estate Company for every year since 2005

·         2005 opened 3 more offices and started a program called FRED  (Realtor Education Day) for all realtors.

·         Today Lyon has the most advanced technology in the industry. Still is the leader among Real Estate Company’s in the Tri County area.  Leading seller of high price homes,  and continues to provide  its agents with top quality training including an attorney on staff to keep us updated on all new paperwork, laws, rules and regulations in the industry.

·         Home values today in Elk Grove are average in the low $300,000, interest rates still holding at all time lows,  new builders are building more and more new homes, and the outlook is very bright for Elk Grove and it’s housing market.

Real Estate Outlook

Home loans rates fell for four straight weeks at the beginning of the year and lenders saw a lot of activity especially for people wanting to refinance their homes.  This was a great time for people wanting to stay in their homes and have more cash in their pockets from lower monthly payments.  It also meant that many people could enjoy the benefits of having enough equity in their home to be able to get out from under the MIP payments or cut them in half. 

First time buyers are also benefiting from the lower rates as they have the opportunity of being able to buy more for their money and keep their payments down.  According to the Mortgage Bankers Association (MBA), purchase applications are 3 percent higher than a year ago, with most of the gains coming from Federal Housing Administration (FHA) financing. Government-insured FHA loans provide low down payment and rate options and are typically sought after by first-time buyers.

It is also a good sign from the housing market when you see the new home building going strong and that seems to be the case for most areas.  This also gives people a great selection of choices.  Weather you are someone looking to down size, needing more room for a growing family, finding that perfect first home or just wanting to stay in your current home.  There is something out there for you.

Whether you are are looking for a brand new home, or want an older home that has the upgrades, landscaping, etc. already there and ready to move in get a good realtor on your side to help you work through the process of looking at homes, knowing everything that is available, understanding the in's and out's of the new home builders in the area, to negotiating the best deal for you, and making sure that all the paperwork is handled timely and accurately.  These services are provided at no charge to you as the buyer so make sure you take advantage of them.