Easy Washing Machine Repair

Posted on January 4, 2012 by admin

I had to repair the washing machine this week. Well, I guess I could have called the Maytag repairman, but I tackled it myself.

So, what does this have to do with real estate? This one just happened to be in my own home, but some of us have rental properties and may see a reason to tackle the problem ourselves. I know that it should probably be the responsibility of the tenants, but we may have our own reasons.

The repair turned out to be very easy once I learned the “secret code“. That was how to get the darned thing apart in the first place. This machine was a Kenmore, made by Whirlpool. The machine wouldn’t spin. See youtube for a lot of video tutorials on the subject, including.

It turned out that the lid switch had broken mounting lugs.


I sourced the replacement switch at Amazon at a significant savings over other sources.

You may also be interested in . . .

Posted in Appliance repair, home maintenance | Tagged , , | Leave a comment

Happy New Year

Posted on January 1, 2012 by admin

Happy New Year to One and All!

You may also be interested in . . .

Posted in Holiday | Tagged | Leave a comment

Nevada Notaries Charged With Fraudulent Foreclosure Documents

Posted on December 30, 2011 by admin

Just in case you may have forgotten about the robo-signing scandal that first came to light in Florida, I thought that I might jar your memory. Florida happens to be a judicial foreclosure state while Nevada is non-judicial. In Florida’s case, the fraudulent document signers work ended up in court. But, the foreclosures in Nevada were for the most part settled at public auction on the court house steps. These never had to face a judge.

Now, it has come to light that Nevada is not immune for fraudulent signing. At least three notaries have now been charged with notarizing documents without actually witnessing the signing.

The three notaries had all worked for LPS, (Lender Processing Service) to handle paperwork for the banks. This is the same company at the center of the problem in Florida. Apparently, they had such a workload such that they could never witness every document within the time allotted.

The problems here, were addressed in AB 284. Now the foreclosing entity must certify that their documents are in order. The end result is that foreclosures will now take longer to complete the process.

Read More: http://www.cbsnews.com/8301-505245_162-57337111/3-nevada-notaries-named-in-foreclosure-fraud-case/

You may also be interested in . . .

Posted in Financing, Foreclosure, Fraud, Government, Mortgage Fraud, Nevada, Real estate news | Tagged , , , , , | Leave a comment

Merry Christmas to All

Posted on December 25, 2011 by admin

I wish you a very Merry Christmas.

You may also be interested in . . .

Posted in America, Holiday | Tagged , | Leave a comment

Mortgage Interest Rates at Record Low

Posted on December 23, 2011 by admin

The rate on the 30-year fixed mortgage reached a new record low of 3.91 percent. This marks the third new low this year. The 15-year fixed mortgage rate, remained unchanged at a low of 3.21 percent.

The exceptionally low rates and the depressed prices have created a superb buying opportunity, but the opportunity is lost for many potential buyers because of the difficulty qualifying for new loans.

With so many homes underwater here in Reno and Sparks very few homeowners can qualify for a re-finance. Additionally, Nevada’s real unemployment further reduces the chances to re-finance.

Read more: http://www.businessweek.com/ap/financialnews/D9RPKO100.htm

You may also be interested in . . .

Posted in Economy, Financing, Nevada, Reno, Reno Real Estate, Sparks Real Estate, Unemployment | Tagged , , , , , , , | Leave a comment

NAR says Over Counting was Minor

Posted on December 14, 2011 by admin

The NAR ( National Association of Realtors) Has been fudging the data on the sales of esisting homes for at least the last four years. Just in case you didn’t make the connection, that’s at least since the Obama Immaculation.

The NAR is now revising their numbers downward, and by as much as 20%. Apparently the numbers didn’t match those of Corelogic. And now the NAR doesn’t want to be seen as untrustworthy, so, now they are revising their numbers downward. NAR numbers used to relied on as reliable and now they might be running scared.

The concern is that an over-count might mean that a much larger backlog of unsold homes still looms over the US economy. That could mean that another drop of as much as 20 % could loom over the US housing market.

But the NAR says they are working on a new method to re-evaluate the market.

I’m surely ready tojump in and trust them again. Aren’t you?

Read more: http://www.reuters.com/article/2011/02/22/us-usa-economy-housing-idUSTRE71L10U20110222

You may also be interested in . . .

Posted in America, Economy, Politics, Real estate news, Reno Real Estate | Tagged , , | Leave a comment

Has the Housing Market Hit Bottom?

Posted on December 9, 2011 by admin

Luxury home builder, Toll Brothers entered the Seattle market by buying CamWest development.

So what does this mean for Reno, and why should we care? Motley Fool takes this as a sign that we are now at the bottom of the market, and even though we may not increase quickly, we will probably not see significant decreases in prices in the near future. The larger operators will take this opportunity to buy smaller operators.

However, don’t take this as a sign that everything is suddenly all rosy. Prices have still fallen in the most recent months. Remember, the interest rates are at near historic lows. What would happen if the rates should suddenly climb?

Read more: http://www.dailyfinance.com/2011/11/28/one-sign-that-the-housing-market-has-hit-bottom/

You may also be interested in . . .

Posted in Economy, Financing | Tagged , , | Leave a comment

How Hard is it to get a New Mortgage Loan?

Posted on December 9, 2011 by admin

Is it really hard to get a mortbgage loan? Some folks think so, but is it really the case? According to stan Humphsries, it”s acturally easier today than it was in 2000 or 2006.

In 2000, 54 percent of applications for conventional, owner-occupied, home purchase mortgages on one- to four-family homes resulted in mortgage originations (the balance being denied, withdrawn, or approved but not accepted by the borrower). By 2006, standards were indeed looser and 61 percent of applications for conventional mortgages resulted in originations. So what happened after the bust? Would it surprise you to learn that in 2010 63 percent of conventional mortgage applications resulted in originations? That’s right, for conventional mortgages, the conversion rate between applications and originations was actually higher last year than in either 2000 or 2006.

Now, I”m not sure that it’s easier. More loans may be approved, but from my experience the banks manage to find more hoops for a borrower to jump through, and consequently, fewer low quality borrowers actually try.

Read More: http://www.cnbc.com/id/45402953?__source=RSS*blog*&par=RSS

You may also be interested in . . .

Posted in Economy, Financing | Tagged , , , | Leave a comment

Nevada Ranks # 46 in List of Best Run States

Posted on December 4, 2011 by admin

Here’s another one of the “Best of” and “Worst of” lists that must fill journalists need for “product.” This time it is ranking the best of and the worst of the 50 states according to their arbitrary opinion.
These are the same kinds of lists that the politicians and the activist refer to when they seek to further pick the pockets of the public. Notice that they don’t include the per capita taxes the states collect.

FWIW, Nevada ranks #46 on the list:

46. Nevada
> State debt per capita: $1,690 (6th lowest)
> Pct. without health insurance: 22.6% (2nd highest)
> Pct. below poverty line: 13.0% (24th lowest)
> Unemployment: 13.4% (the highest)

Nevada has dropped five places in our rankings. This drop is due primarily to its credit downgrade this year from AA+ to AA. Surprisingly, the state has one of the lowest debts per capita in the country, at just $1,690 per person. However, it has other financial woes that make it a long-term risk. Nevada properties declined 44.5% in value between 2006 and 2010, the worst decline in the country. In October alone, one in every 180 homes was foreclosed upon, easily the worst rate in the country. The state also has the second lowest percentage of residents covered by health insurance and the highest unemployment rate in the country.

California ranks the worst, # 50, but you probably already knew that.

Read more (To save you time, Nevada is on page #6.).

You may also be interested in . . .

Posted in America, Economy, Government, Nevada, Politics, Unemployment | Tagged , , , , | Leave a comment

New Short Sale Rules From Freddie Mac

Posted on November 22, 2011 by admin

Effective Jan, 1, 2012 everyone involved with Freddie Mac short sales will be required to sign an affidavit and be held liable for any misrepresentations they may have caused. This is purportedly to ensure that the transaction is at arms length.

In August, the government-sponsored enterprise alerted real estate agents to the rise in shady short sale deals. The main concern is flopping. There is a growing trend of real estate agents on the buy-side of the deal failing to disclose other bids on the property, rigging the sale at a lower price.

This was based on the theory that if a buyer flipped the property and made a profit, the deal must have defrauded the bank. If we extend this concept then every business that buys a product or service and re-sells it at a higher price would be committing fraud. We know that any merchant that doesn’t make a profit soon goes out of business.

We must realize that this absurd notion comes from the government where little makes any sense. But take care because they will look for any excuse to make an example of you.

This is from the same Fannie and Freddie that has already cost the taxpayers $169 billion and have paid huge bonuses to their executives for losing money.

How big are the paychecks going to top Fannie and Freddie executives? Big. Really, really big. Since the agencies went into conservatorship, Fannie and Freddie’s top six executives have received $35 million in compensation, including millions in bonuses, even as borrowers struggled to keep their homes and got no meaningful relief.

Read more:

You may also be interested in . . .

Posted in America, Financing, Foreclosure, Fraud, Government, Mortgage Fraud, Real estate news, Short Sale Fraud, Short Sales | Tagged , , , , , | Leave a comment