All posts by jd

Real estate broker, civil engineer and general contractor.
Real Estate

Chase Bank Accused of Breaking and Entering

A couple is accusing banking giant Chase of locking them out of their home and removing their personal property before a foreclosure was finalized.

Banks across the country have faced similar accusations. Lenders have argued they have the right to “secure” vacant properties they’ll soon own, but lawyers say it’s trespassing or breaking and entering when home owners still own the title of the property and the banks don’t yet.

In this most recent case, the Florida couple says they arrived home one night to find the locks had been changed and a sign posted on the window that said the home was being managed by Chase Home LLC. The couple, who said the house was to be sold in a foreclosure sale in a few weeks, say the bank didn’t give them a warning or notice of eviction.

The couple has accused the company’s representatives of removing the home’s appliances and the air conditioning unit as well as some of their personal belongings. Chase says the stove, refrigerator, and air conditioning unit were already missing when their representatives entered the house.

The couple’s mortgage has been in default since 2007, but court cases have prolonged the foreclosure since the couple filed for Chapter 7 bankruptcy in 2009.

Chase spokeswoman Nancy Norris says that Chase authorized “a vendor” to change the locks on the home after it “determined” the house was vacant.

“Before the property was secured we confirmed that the home was empty,” Norris told the Miami Daily Business Review. “The utilities were turned off … we took photographs on the day we secured the property and the home was in disarray.”

Source: “Chase Accused of ‘Breaking and Entering’ Couple’s Home; Banks Claim They Have Duty to ‘Secure’ Collateral,” Miami Daily Business Review (March 24, 2011)

For all your real estate needs, call or email:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

Bits & Pieces

Donald Trump Claims He Screwed Gadhafi

httpv://www.youtube.com/watch?v=IIfSb0EFCf4

 

Donald Trump says his business experience trumps many presidential wannabes – in the realm of foreign policy.

In an appearance on Fox News Monday morning, the bombastic money man said he’s already negotiated with world leaders – including Libyan madman Moammar Gadhafi, whom he rented a piece of land for an exorbitant price.

“I think I probably have more experience than anybody — whether I sell them real estate for tremendous amounts of money,” Trump said.

“I mean, I’ve dealt with everybody,” he added. “And by the way, I can tell you something else: I dealt with Gadhafi. I rented him a piece of land. He paid me more for one night than the land was worth for two years – and then I didn’t let him use the land.”
Trump was referring to his allowing Gahafi to pitch a tent on his property when the Libyan leader was in New York for an appearance at the United Nations in 2009.

The leader refuses to stay on high floors in hotels and insists on staying in similar structures when he travels. Gadhafi never ended up staying on Trump’s property amid a public relations flap.

Trump, at the time, claimed he didn’t know to whom he was renting the property until the controversy exploded.

Yet on Monday, Trump made it sound like he knew he was playing the Libyan strongman from the start. (Sounds like he’ll make a great politician)

“I don’t want to use the world ‘screwed’, but I screwed him,” he said. “That’s what we should be doing.”

Trump said Thursday that he would shell out $600 million of his own dough to become President – and dismissed claims that his bid for higher office was just a stunt.

“I have never been so serious as I am now,” he said.

 

Read more: Source  NYDailyNews.com

 

For all your real estate needs, call or email

John J. O’Dell
Real estate broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

Real Estate

Buyers, Sellers Optimistic About Housing

70 percent of buyers and sellers say they believe the housing market and property values will recover in the next year or two, according to a new survey by Prudential Real Estate and Relocation Services Inc.

What’s more, 86 percent of the more than 1,000 buyers and sellers surveyed believe real estate is still a good investment despite the souring market conditions in many areas the past few years.

Those surveyed said they also are ready to buy: Six in 10 respondents say they are more interested in buying real estate and 59 percent say they are optimistic about buying now with recent momentum from the economic recovery. They also believe they can get a better deal now because of lower prices.

But many survey respondents said that buying a home relies on them being able to sell their existing home. About 67 percent respondent said they are concerned about getting a fair price for their existing home.

“This survey clearly demonstrates that Americans continue to be optimistic about the real estate market and believe that home prices will rise,” says James Mallozzi, chief executive officer of Prudential Real Estate and Relocation Services. “A key take away from the survey is although consumers recognize that it is a good time to buy, they are concerned about their ability to sell their homes. This is one of the reasons the market is still struggling to recover.”

Source: “Americans Confident in Recovery of Real Estate Market,” RISMedia (March 14, 2011)

For all your real estate needs, write or email:
John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

DRE# 00669941

 

Real Estate

Home Prices Drop In February


Following three months of sales gains, California home sales posted a weaker-than-expected performance and declined in February, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).  The statewide median price of an existing, single-family detached home sold in California also declined in February.

  • Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 497,660 in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.
  • February’s sales were down 9 percent from January’s revised pace of 547,080 units, and down 4 percent from the 518,390 sales pace recorded in February 2010.  The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the February pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.
  • The median price of an existing, single-family detached home sold in California in February declined 2.8 percent to $271,320, from a revised $279,140 in January, and was down 2.5 percent from the $278,190 median price recorded for February 2010.  The February 2011 median price was the lowest since May 2009, when it was $263,440.
  • “The market pulled back in February, following three months of sales gains, when the ramifications of the robo-signing delays from last fall pushed sales into the period from November of last year to January,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “February’s sales drop indicates the effects of the foreclosure freeze are diminishing, and the market is returning to a more moderate sales pace.”
  • C.A.R. has posted median prices, unsold inventory stats, sales figures, time on market data, and more by county and region.  To view this information, click here

Read the full story

For all your real estate needs, call or write:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

DRE#00669941

Entertainment

Jackie Greene Appearing at The Center for the Arts in Grass Valley

httpv://www.youtube.com/watch?v=1XU7ZF-LXug

Jackie Greene is appearing at the Center for the Arts on Father’s Day June 19th. Seating is limited to 300 persons, so you better make your reservations now!

Where you’re going has always been more important than where you’ve been. By his music, Jackie Greene appears to have been through every major American musical influence: from country, to jazz, to folk to rock. And, marked by the release of his newest album American Myth, it’s clear that Greene knows where he’s going. His roots twist to create a unique sound, combining the introspection of an engaging songwriter with the energy of a chemically harged rock band.

In early 2005, he signed with a major record label, Verve Forecast. Sweet Somewhere Bound was reissued that year, followed by a new release, American Myth, in March 2006. The following year, Greene joined Phil Lesh and Friends, the Grateful Dead bassist’s ensemble dedicated to the interpretation of the Dead’s extensive song book. Other members of the band at the time included John Molo, Larry Campbell and Steve Molitz. Also in 2005 his song “I Will Never Let Go” was used in the soundtrack for the movie Brokeback Mountain. Meanwhile, Greene continued to pursue solo efforts, releasing Giving Up the Ghost in April 2008, and made his second visit to Late Night With Conan O’Brien in June 2008, performing “Like A Ball & Chain”. Another song from the album, “I Don’t Live in a Dream”, was featured on episodes of the NBC television series Life in November 2008 and ABC’s Private Practice in March 2009.

In October through November 2009, Greene played a series of shows with Government Mule, culminating at the end of the tour on Halloween at the Tower Theater in Upper Darby, during which Jackie played and sang through an entire set of Rolling Stones songs with Gov’t Mule.

The journey is now the depth behind his music. “I’ve been writing, recording and performing non-stop. I’ve lived in cars, hotels, basements…slept on floors, couches, strange girl’s beds. I wrote lots of songs in those places. Some I’ll never remember, but that’s all part of it, I guess.” With a stream-of-consciousness vibe, many of Greene’s songs reflect a certain spontaneity, traveling quickly from inspiration to album to fan. “Music that’s too perfect isn’t music anymore.  It’s better to just capture a moment in time.” says Greene of his philosophy.

www.jackiegreene.com

For tickets online click here


For all your real estate needs, call or email:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091/
Email John at jodell@nevadacounty.com

DRE@ 00669941

Business

In Business, You Can’t do Everything Yourself!

Photo courtesy of Blog.Autoshopper.com

By Lisa J. Lehr

What’s wrong with this picture?

The fictitious Modern Widget Company in Grass Valley has a small staff of reasonably capable people who do pretty much everything. One day, Bob notices a leak in the restroom. “I can fix that,” he says, “and I’ll save the company a ton of money.” He goes the hardware store, buys some parts, and fixes the leak…or so he thinks. Next morning, when the staff comes to work, the toilet has crashed into the basement. You see, Bob didn’t know water was leaking under the floor, rotting out the floorboards.

Sally arrives, late and breathless, wearing a hat. Embarrassed, she confesses she’d cut her own hair. With an important presentation coming up, she didn’t have time to go to the beauty parlor. “It’ll grow out eventually,” she says, red-faced.

Jeff and his carpool buddy Jenny call to say they’re going to be late. They were on their way when they heard a strange racket coming from under the hood of Jeff’s pickup truck. “I can deal with that,” says Jeff. “Who needs AAA?” They might not make it in till afternoon.

What do all these people have in common? They tried to fix a problem themselves when they really needed the services of a professional. They ended up with problems far more serious and expensive to fix than their original problems. They suffered embarrassment, wasted time, and inconvenience.

Then one day the staff at Modern Widget Company is ready to launch their new Super Widget.

“I’ll do a website,” says Bob. “I’m a pretty geeky guy.”

“I’ll write a sales letter,” says Sally. “I majored in Creative Writing.”

“I’ll send out some e-mails,” says Jeff. “I like to do e-mail.”

“I’ll make a brochure,” says Jenny. “I’m a pretty good artist.”

So they did. How did their cobbled-together marketing program do, you ask?

It bombed. You see, Bob, Sally, Jeff, and Jenny made the same mistakes twice: they thought they knew what they were doing—but they didn’t.

If you’re offering a product or service, you need a professional marketing program to reach your audience and make them buy. Even the best product or service is only as good as your marketing plan. Run, don’t walk, to find a professional marketing writer—before you waste time and money, before you suffer embarrassment and inconvenience. And definitely before your business crashes into the basement…figuratively speaking.

 

Lisa J. Lehr is a writer and copywriter living in Grass Valley. She can help you promote your business with a full range of online and offline marketing pieces. A member of Empire Toastmasters, she’s available to speak to your business or professional group. Visit her website www.justrightcopy.com for more information, opt in for a message series, and receive a free Marketing Guide.

—
Lisa J. Lehr
I write words that make you money–just ask me how.
www.justrightcopy.com
Visit my website and sign up for my fr~ee marketing tips.
New! No~cost Marketing Guide now available at my website.

Bits & Pieces

Afraid of Radiation in Nevada County? Not Much Reason to Worry

By John J. O’Dell

Dr. Richard Besser explains the affects of radiation on the body (Video courtesy of ABC News)

The possibility of dangerous levels of radiation hitting Nevada County is on the order of zero to none. However, herb shops and vitamin stores are stocking up on adult doses of potassium iodide. This is a very serious drug to take which according to Dr. Time Jorgensen, an associate professor of radiation medicine at Georgetwon University, said that giving an adult dose of potassium iodide to an infant would be toxic. (Along with allergies to iodine, shellfish, thyroid problems and  heart problems)

Further “There is no increased risk of harmful levels of radiation exposure in the United States based on the situation to date at the nuclear power complex in Japan,” said Dr. Jonathan Fielding, Los Angeles’ Director of Public Health. “Residents who ingest potassium iodide out of concern of possible exposure from this situation are doing something which is not only ineffective, but could also cause side effects.”

Dan Sprau, who teaches radiation safety at East Carolina University, said, “Potassium can lead to heart problems.”

Radiation Realty Check from ABC News

From the California Department of Health

Frequently Asked Questions

  • Q. What’s the risk for California from the current nuclear power emergency in Japan?
    A. At present, the Nuclear Regulatory Commission (NRC) indicates Japan’s nuclear emergency presents no danger to California.
  • Q. What is being done to test for radiation that might be coming or is present in the environment?
    A. Both Federal and State monitoring is ongoing and will be supplemented as needed.
  • Q. Does California have a plan in place to respond to a radiological emergency?
    A. CDPH has a plan for response to radiological emergencies, called the Nuclear Emergency Response Plan.
  • Q. Does California stockpile supplies for such an emergency?
    A. California does stockpile emergency supplies, including potassium iodide (KI) tablets. Potassium iodide tablets are not recommended at this time, and can present a danger to people with allergies to iodine, shellfish or who have thyroid problems. Potassium iodide tablets should not be taken unless directed by authorities.
  • Q. Why are potassium iodide tablets used during emergencies involving radiation exposure?
    A. Potassium iodide tablets may be recommended to individuals who are at risk for radiation exposure or have been exposed to excessive radiation to block the body’s absorption of radioactive iodine. Using potassium iodide when inappropriate could have potential serious side effects such as abnormal heart rhythms, nausea, vomiting, electrolyte abnormalities and bleeding.
  • Q. Should I be taking potassium iodide to protect myself?
    A. No. Potassium iodide tablets are not recommended at this time, and can present a danger to people with allergies to iodine, shellfish or who have thyroid problems.
  • Q. Should I purchase potassium iodide as a precaution?
    A. No. Potassium iodide is only appropriate within a very close proximity to a nuclear event. Using potassium iodide when inappropriate could have potential serious side effects such as abnormal heart rhythms, nausea, vomiting, electrolyte abnormalities and bleeding.
  • Q. Are there any protective measures I should currently take?
    A. The best thing anyone can do is to stay informed. CDPH and other state and federal partners are monitoring the situation. If circumstances change, officials will alert the public to appropriate precautionary procedures. But, again, at this time, the NRC reports Japan’s nuclear emergency presents no danger to California.

For all your real estate needs, call or write:

John J. O’Dell
Real Estate Broker
O’Dell Realty

(530) 263-1091
Email John at jodell@nevadacounty.com

Bits & Pieces

Hands on iPad 2 Review

httpv://www.youtube.com/watch?v=Z_d6_gbb90I

I bought an iPad 2 on March 11 the first day they came out and at around 6 pm, one hour after they first went on sale.  Not knowing why I bought it, other then I’m a tech geek and have to have the latest and greatest toy that comes out, is the only excuse that I have. The iPad comes in 16 GB, 32 GB and 64 GB, with or without 3G. I bought the 16 GB iPad 2 without 3G.

So far, I’ve been really impressed with the tablet. For instance, I downloaded the Netflix app and it streams beautifully on a marginal wifi connection. I was able to watch the TV series “Bones” season five with no problems at all.

I was also able to download a Nook app, (I also have a color Nook tablet) and downloaded one of my books that I had started reading – Brian Greene’s “The Hidden Reality” and I also bought the book by Clive Sussler “The Jungle”  As an e-book reader, it’s wonderful, and I think it works better than the Kindle (yes, I have a Kindle also) and the Nook tablets. I downloaded the Kindle app but it does not work as well as the Nook app.

There is also an NPR app with which I can listen to prior programs or listen to KXJZ live.  Other apps that I like are Chess.com, Angry Birds,  Fruit Ninja,  PSExpress,  Yahoo Finance, Huffington Post,  Google Earth and my Spanish-English dictionary which I had on my Iphone . I noticed that some of the videos on CNN would not work since it needs Adobe Flash and the iPad does not support Flash.

Photo courtesy of My Gadget News. Showing benchmark speed iPad 1 compared to iPad 2.  Various other test results indicates that the iPad 2 performs 400 times faster than the iPad 1.

Related news:  Apple iPad 2 sells out – CNN

 

For all your real estate needs call or write:

John J. O’Dell
Real Estate Broker
O’Dell Realty
(530) 263-1091
Email John at jodell@nevadacounty.com

DRE# 00669941

Real Estate

The Frustrations of Short Sales in Dealing With Banks

Photo courtesy of Around Hawaii

The California Association of REALTORS® has put full page ads in numerous papers throughout California regarding the frustration of dealing with banks in trying to do short sales with them. A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency

Having had numerous short sales fall through, I fully understand the frustration of buyers and sellers in trying to work with banks in doing short sales.  I don’t know what their problem is. They seem to be extremely great at finding ways to tack on fees for every dealing you do with them, but complete disregard for completing what should be a smooth sale of real estate property of which they have an interest in.

I have two short sales going right now that have been in the works since November of last year. One of the banks, after five months has finally reviewed all the paper work on one of the short sales,  (a simple offer to purchase property) and assigned a negotiator to deal with the purchase contract.  This by no means says that the bank will accept the offer that was made.  I’ve had banks come back after an offer was made and demand $30,000 more than the property was worth. This resulted in the property not being sold in a short sale, foreclosed and the banks losing thousands of dollars because they refused to go along with the short sale.

Here’s a press release from C.A.R. further explaining the frustrations of short sales:

Banks drag feet on short sales, survey finds
The CALIFORNIA ASSOCIATION OF REALTOR® (C.A.R.) published its findings of a survey this week, which show that tedious lender requirements and poor communication hamper short sales.

  • Fewer than three of five short sales close in California, illustrating the complexity and difficulty of navigating lenders’ and servicers’ short sale procedures, according to C.A.R.’s survey, which gauged REALTORS®’ experience in working with short sale transactions – transactions in which the lender or lenders agree to accept less than the mortgage amount owed by the current homeowner.
  • Although not every homeowner or mortgage is eligible for a short sale, those who are able to finalize a short sale avoid a foreclosure on their credit record and can move on with their lives.
  • Banks are taking much longer to respond to short sale offers than those specified in government guidelines for banks.  Nearly two-thirds of survey respondents said banks took longer than 60 days to respond to short sale offers.  Often, this results in buyers walking away from the transaction.
  • “Increasing the number of successful short sale transactions is one important way we can help California families avoid foreclosure and move our economy closer to recovery,” said C.A.R. President Beth L. Peerce.
  • C.A.R. is asking government agencies, such as the U.S. Dept. of the Treasury, to force banks to complete all short sales following HAFA guidelines and to comply with the program’s time frames.

Read the full story