Amazing Estates In Palm Springs

Palm Springs has long been a draw for Celebrities.  Many of the biggest names in Entertainment and the Arts have called Palm Springs home at one point or another in their careers.  Here you can see two amazing properties that are currently on the market.

The first property is located in Old Las Palmas.  This is the neighborhood just West of downtown Palm Springs. It has big grand estates some built in the 1930's all the  way through to some just built a few years ago.  One thing is for sure all of them have a unique charm that this beautiful neighborhood full of mature palms and stunning Mountain vistas only makes better.

This older, but beautifully restored, estate features 7000+ square feet plus 3 guest homes, water features and 8 bedrooms. Formerly the home of Ann Miller it sits on 3.9 acres it has the quintessential Spanish Villa look. 457 Hermosa Place.

The second property is located in the Mesa neighborhood of South Palm Springs. It is the home of actress Suzanne Sommers. Your neighbors include Barry Manilow and Riff Markowiz - presenter of the Palm Springs Follies Show.  In the  past Gloria Swanson and Joseph Cotton - silent screen stars - had homes in this neighborhood. It was also where Sonny Bono lived until his death. The home (reportedly designed by noted architect Albert Frey)  is uniquely positioned high above the rest of the houses perched on the hillside it has lots of acreage with it and even a funicular for access.  See 385 Alta Vista Rd Palm Springs.

You can search for more Luxury homes in Palm Springs or contact us for more information on any home in the area.

Food and Wine Festival Palm Desert March 26-27, 2011

The second annual Food and Wine Festival Palm Desert is scheduled for the fourth weekend of March this year.  Held in conjunction with Palm Deserts' week long El Paseo Fashion week  - the town is sure to be full of all the best in Wardrobe - Wine and waistline expanding eats!  

There will be Celebrity chefs, Food Network Personalities, cooking demonstrations and premium wine samplings.  Slated to appear are Chefs Jimmy Schmidt, Roy Yamaguchi, Paul Bertolli and Bradley Ogden.   The Culinary Institue Of America is a co-sponsor and this year the the event benefits their Scholarship fund as well as the James Beard Foundation.

Tickets for this fun event  can be obtained by contacting Jeff Hocker at Jeffhocker1@gmail.com

That Sweet Smell Can Only Mean One Thing

We all tend to take things for granted when we see them everyday.  I remember when I lived in Colorado I got very accustomed to some of the most magnificent views on the planet. Breathtaking scenery of the  snow capped Rockies and the Continental Divide was a daily spectacle to me. It was usually a visiting friend or relative that would bring it back home to me how special this really was.

Now that I live in the Coachella Valley it is common place for me to see citrus trees where ever I go. Most people have at least one tree in their yard, condo complexes are full of them sprinkled all over the grounds.  Oranges, grapefruits and lemons are the most common but a few lucky people have tangerine trees. At the east end of the valley there are still some agricultural areas that produce citrus crops.  In fact if you venture out to the Salton Sea (an interesting day trip) you will pass some of them.

So, the visual of citrus trees hardly registers with me anymore. I see it everyday. However, each year in March the overpowering smell of the fragrant blossoms permeates the valley and you just can't escape it.  No real way to share that with you on the blog but just know that it is a wonderful fragrance.  Riding with the windows down in the car is fun as you can even smell it then.

Just one more thing that makes living in Palm Springs amazing. Come see why Everyone wants to bu a home in Palm Springs!

 [Citrus Crop photo courtesy of Suat Eman"]

BNP Paribas Open March 7-20, 2011

World Class Tennis in Indian Wells California.  For nearly two weeks in March the Tennis Gardens in Indian Wells, CA will play host to some of the biggest names in the world of  Tennis.  The BNP Paribas Open  is the largest combined ATP and WTA in the World. With constant media coverage from across the globe this truly is an international event that can't be missed.

In the United States coverage of the event will air on ABC, ESPN and the Tennis Channel.  Players schedules to appear includes Roger Federer, Rafael  Nadal, Caroline Wozniack & Vera Zvonareva  amoung dozens & dozens  of others.  Use the link above to purchase tickets and see schedules, daily tickets start at $45 each.    The Indian Wells Tennis Garden is situated on Washington Street at Miles Avenue. Just south of Fred Waring Drive.

Is the Government Looking to End Secured Mortgages?

According to a new policy paper the Obama Administration submitted to the Treasury Department just last week the answer may be yes.  Looking to privatize this and relieve the government - ie: taxpayer liability for mortgages gone bad.

Government back loans through Fannie Mae and Freddie Mac have long been a staple of the US real estate market and have helped many a homeowner get their first home.  To be sure the two were also closely tied to some of the worst abuses in the mortgage melt down of the last 5 years.

No matter which side of the issue you are on this is a BIG change in business as usual in the government back loan business.  Read the entire document outlining the administrations proposals.

Should You Fight the Bank To Keep Your House Part II

In the first part we covered the basics of how you should decide if you are capable of keeping your home and what the first steps are. Here we cover what happens next:

So you have gathered all your paperwork and are ready to send it in. Typically you have to fax all this stuff in with your account number written on every page.  You usually have to update the things like bank statements and pay stubs as you get new ones.

Don’t be surprised but the first answer is usually – NO! (If the bank says yes please read  section 4)

3) After The Bank Says NO: Don’t let this deter you.  Ask for the specific reasons in writing.  Ask for supervisors to explain what your options are. Ask what the review process is and tell them you want to be reconsidered. Unless they can tell you specifically that you do not qualify based on your income I would not accept no from this level at the bank.  I would keep pushing until they refuse to consider your paperwork anymore. Sometimes they will cite the type of loan you got originally. Ask for this in writing so you can show it anyone else you may seek help from. You should assume that you will have to push and you will have to raise the stakes.  Don’t lose your cool but be persistent in letting them know you want a solution.

If you get that final “no we won’t look at your file or try to help you any more” answer you should then try to get outside help. There is a non-profit organization that will help you with this process. NACA.com.  Go to their website and see how the system works. Basically they negotiate with the banks to try and get you modified loans and reduced payments and interest rates.  Since you will have all the paperwork together you can start  their system right away.  Again, this is not loads of fun but it can be done –I personally know multiple people who have received help, with great success,  from NACA.  You could start with NACA and skip trying to do it yourself but I do not think you should.  As the banks customer you should trying asking for help from them directly first.  Document your efforts – keep a small notebook with dates and times of calls made, faxes sent, answer received.

Lastly, if the Bank won’t help, if NACA says they can’t help you you can try two other routes.  One is called a forensic Audit of your loan.  There are firms out there who do this for about $3,000 – many are attorneys.  They will examine your original loan for inconsistencies and help you go back against the bank to reset the terms based on faulty original paperwork.  This is a very aggressive approach and you must be careful to avoid scam artists.  Check out anyone you are thinking of hiring with the Better business Bureau and the Attorney Generals office in your state. The other option is an attorney.  There are many attorneys now specializing in debt reduction –debt relief and bankruptcy.  These would be a good place to start.  Find one who will help you try to negotiate with the bank and any other creditor you may have to try and keep you in your home.

4) The Bank Said Yes! Hopefully you will get to a yes long before you consider a forensic audit or a attorney.   So if the bank says yes read their terms very carefully.  There are basically two types of yes answers.  One is a temporary reduction of payment and/or interest rate that sets your monthly payment at a rate you can afford.  The total amount of principal that you are not paying is often wrapped to the end of the loan – in other words you are not getting out of paying any amount due you are just putting it off. This is often called forbearance.  A better version of this is a permanent reduction of interest rate (if your problem iis that your rate is too high) The second type, and less common one is the mortgage modification or principal reduction where your note is lowered by a cancellation of some of the debt.  They are reducing the total amount due on the loan.

Staying in your home is well worth the effort you will have to make for most people. Don't be discouraged and don't fall for scam artists who say they will do all the work for you.  No matter which route you take you will have to gather organize and prepare all the paperwork listed above that will be used to make the decision about your mortgage payments.

The programs available to help you and the banks willingness to help change constantly so keep asking questions.  I believe that we are in a 10-15 month window of time where these programs and options are at their peak.  After this window passes I think we will start back towards a market where many of these options for you as a homeowner will be phased out and no longer available.  The time to act is now before they start disappearing.

If you know you cannot afford your home now or in the near future a short sale may be the answer for you.  You can read more about short sales at PSagent.com