Home Improvements That Pay You Back Infographic, compliments of Comet Realty

For excellent representation, contact YOUR favorite 

Comet Realty Realtor®. 

Mike Copeland, 805-441-9021

Therese Cron, 805-878-1684

Kristin Lachemann, 805-801-4653

Keith Silva, 805-801-6498

Erik Slayter, 805-202-6362

Layne Smith, 805-704-5476

Hayley Townley 805-440-9194

Tim Townley, 805-440-8735

Friendly. Professional. Local. 

What Buyers Like Most About Their Realtors Infographic, compliments of Comet Realty

For excellent representation, contact YOUR favorite Comet Realty Realtor®. 

Mike Copeland, 805-441-9021

Therese Cron, 805-878-1684

Kristin Lachemann, 805-801-4653

Keith Silva, 805-801-6498

Erik Slayter, 805-202-6362

Layne Smith, 805-704-5476

Hayley Townley 805-440-9194

Tim Townley, 805-440-8735

Friendly. Professional. Local. 

Common Mortgage Scams and How to Avoid Them

During the recent housing crisis, scams became quite common. Here are some typical hoaxes, and advice on how to avoid being duped. 

1. The Savior Scam
If you’ve ever been on the brink of foreclosure, you’re already well aware of the flood of letters, emails and phone calls you’ll receive offering to help save you from your situation. When homeowners fall behind on mortgage payments, the lender files a Notice of Default, making the mortgage troubles (and property address) public record. This makes the homeowner easy prey for con artists, who typically set up fake companies offering to help pay the mortgage and get the homeowner out of foreclosure. They can’t help, and will likely try and get the owner to sign the house over to them so they can sell it and reap the profits, or ask for upfront fees before they help. 

2. The Renter Rip-off
In this type of scheme, a fraudulent investor, who is not making mortgage payments, rents out a home on the brink of foreclosure and pockets the money until the lender forecloses. 

3. The Ghost Buyer
In this fraudulent scenario, the true identity of the borrower is concealed through the use of a nominee, who allows the buyer to use his or her identity and credit history in order to secure a loan.

4. The Fake Appraisal
This type of scam typically involves several parties, such as a mortgage broker, investor, and title company. All are paid off to help inflate the value of an appraisal on a house. The home might really be worth $450,000, but the house is sold for $500,000 to an unsuspecting buyer. 

5. The Bait and Switch
There are many variations on this age-old scam, but the mortgage version typically goes something like this: a potential buyer is baited with an enticing loan offer. After putting considerable time and effort into preparing for financing, the buyer is presented with a loan of much less favorable terms, particularly a high interest rate. Often, the buyer accepts these new terms since so much has gone into the loan process, and the lender reaps a profit without doing anything outright illegal. 

6. The Lease Back Scheme
This type of scam also starts with promise of rescue. The owner can no longer afford the mortgage payments and a fake company offers to take over the mortgage. Facing foreclosure, the homeowner agrees to sign the deed over in exchange for the ability to continue living in the home as a renter, while the new homeowner is supposedly paying off the delinquent mortgage. The rent payments are promised to go toward buying the property back, with interest.

However, the scammer who took over the home typically pockets the rent, then disappears when the owner is evicted. In other instances, the scammer simply remortgages the home, cashes out the equity and skips town while it goes into foreclosure anyway.

Tips for Avoiding Mortgage Scams: 

1. Beware of anyone who asks you to pay a fee in exchange for counseling or help with a loan modification.

2. Do not sign over the deed to your property to anyone or any company unless you are working with your mortgage company directly to forgive your debt.

3. Never make a mortgage payment to anyone other than your mortgage company without their approval.

4. Never sign a document that you don’t understand.

5. Never leave any part of your application blank.

6. Never give out personal information over the phone when someone first contacts you.

7. If something sounds too good to be true, it probably IS too good to be true.

What should you do if you are the victim of a Scam?
File a complaint with the Federal Trade Commission (FTC). Visit the FTC’s online Complaint Assistant at ftc.gov/complaint, or call 1-877-FTC-HELP for assistance.

Happy New Year from Comet Realty!

Comet Realty pictured from left to right: Layne Smith, Keith Silva, Erik Slayter, Hayley Townley, Tim Townley, Therese Cron, Kristin Lachemann, Mike Copeland, in front of their 1965 Mercury Comet Station named Buckwheat.

Five Home Improvement Projects to Avoid Infographic, compliments of Comet Realty

Call your favorite Comet Realty Realtor® today
for all your real estate needs! 

(HINT: Look to the right for the list of awesome Realtors®)

805.546.9925 or Info@CometRealty.com

What Buyers DO Want Infographic, compliments of Comet Realty

Call your favorite Comet Realty Realtor® today
for all your real estate needs! 

(HINT: Look to the right for the list of awesome Realtors®)

805.546.9925 or Info@CometRealty.com

What Buyers Don't Want Infographic, Compliments of Comet Realty

If you, or someone you know, is considering buying or selling a home this year, 

please contact your favorite Comet Realty agent today for excellent representation. 

805.546.9925

(HINT: look to the right to see our team of Realtors®)

#CometRealty #Real Estate Infographic #SanLuisObispoRealtors

Buyer Optimism Is Way Up Infographic

Call your favorite Comet Realty Realtor today 

for all your real estate needs! 

(HINT: Look to the right for the list!)

805-546-9925, Info@CometRealty.com

What Features Do Buyers Value in a Home?

Call your favorite Comet Realty Realtor today 

for all your real estate needs! 

(HINT: Look to the right for the list!)

805-546-9925, Info@CometRealty.com

19 Steps to Home Ownership

Compliments of Mary Trudeau, Medallion Mortgage
805-610-1565, MTrudeau@medallionmtg.com

Americans are on the Move Infographic, compliments of Comet Realty

If you, or someone you know, is considering buying or selling a home this year, 

please contact your favorite Comet Realty agent today for excellent representation. 

805.546.9925

(HINT: look to the right to see our team of Realtors®)

#CometRealty #SanLuisObispoRealEstate #SanLuisObispoRealtors

Should You Buy a Fixer-Upper?

Infographic compliments of Credit Sesame

Contact your favorite Comet Realty agent to help you find the perfect house, which may or may not be a fixer upper upon review of the above info graphic! 

805.546.9925

Info@CometRealty.com

The Value of Realtor Experience Infographic, compliments of Comet Realty

If you, or someone you know, is considering buying or selling a home this year, 

please contact your favorite Comet Realty agent today for excellent representation. 

805.546.9925

(HINT: look to the right to see our team of Realtors®)

New House, New Yard Infographic

If you, or someone you know, is considering buying or selling a home this year, 

please contact your favorite Comet Realty agent today for excellent representation. 

805.546.9925

(HINT: look to the right to see our team of Realtors®)

TOP TEN REASONS TO BE OPTIMISTIC ABOUT THE HOUSING MARKET

Friendly. Professional. Local.

Be sure to contact your favorite Comet Realty agent to achieve your real estate goals and contribute to an overall economic recovery: 

Mike Copeland, 805-441-9021

Therese Cron, 805-878-1684

Shannon Fitzpatrick, 805-801-5436

Keith Hoffmann, 805-801-6498

Kristin Lachemann, 805-801-4653

Erik Slayter, 805-476-3663

Tim Townley, 805-440-8735

Hayley Townley, 805-440-9194

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Buying vs. Renting Infographic, compliments of Comet Realty

For all your real estate needs, contact your favorite Comet Realty realtor®, 805-546-9925.

Moving Out & Moving In Checklist

This list was provided compliments of:

Kevin Hauber, Senior Loan Consultant

iMortgage in San Luis Obispo

805-597-8844

Kevin.Hauber@imortgage.com

RED ALERT - Urge Your Senator to VOTE NO on SB391!

Senate Pulls Dirty Trick!
Tries to Punish C.A.R. for Opposing Recording Tax by Holding C.A.R.’s Tax Relief Bill Hostage 

Call Your Senator NOW! Urge a NO Vote on Recording Tax 

In a surprise move last week, the Senate Appropriations Committee linked C.A.R SPONSORED bill, SB 30, which provides tax relief to those who are selling a home in a short sale to SB 391, a C.A.R.-opposed bill that creates a recording tax, using a shameful political maneuver to force C.A.R. to support the recording tax. As now linked, SB 30 can only become law if SB 391 becomes law. Once SB 391 is defeated, the link in SB 30 can be removed. PLEASE ACT NOW. THE VOTE COULD BE AS SOON AS NOON TUESDAY!!!

REALTORS® and the public should be OUTRAGED that distressed homeowners are being held hostage by Senate Leadership.

 Action Item 

CALL YOUR SENATOR TODAY

 Ask him or her to stand with REALTORS® and families and
VOTE NO ON SB 391!

CALL 1-800-969-3310Enter 200005264 to be connected

If you wish, you can bypass the first part of the message by entering your PIN, followed by the # sign, at any time. You may also bypass the 2^nd part of the message by hitting the “1” key to be directly connected to your legislator’s office. 

Here are detailed background and talking points on both bills. 

Background/Talking Points

C.A.R. is OPPOSING SB 391 (DeSaulnier) which imposes a recording TAX to generate funds for affordable housing programs. SB 391 creates a $75 per document recording TAX to fund the affordable housing trust.  C.A.R. is opposing this measure because it unfairly adds to the cost of recording real estate documents. C.A.R. is an aggressive advocate for affordable housing, but believes it is bad policy to fund affordable housing at the expense of homeowners who need to record real estate documents. The real issue is that this TAX is imposed only on real estate document recordings.  Affordable housing programs should be funded by the broadest base possible of California's citizens.

C.A.R. opposed the bill’s predecessor, SB 1220, last year until the bill was amended to exempt recordings that were part of a sales transaction.  Afterward, C.A.R. supported the measure, but it was defeated. Don't be misled by allegations that C.A.R. "changed its position" on SB 391.  C.A.R.'s Board of Directors considered SB 391 for the first time in May of this year; prior to that, C.A.R. did not take a position on SB 391.  The sponsors were advised of this process well before the bill was introduced. In May, the Board of Directors voted to oppose SB 391.

C.A.R. is opposing SB 391 because:

• SB 391 unfairly targets property owners who need to record real estate documents to pay for affordable housing programs. Affordable housing is an issue of broad social concern. While there may be a need for affordable housing funds, it is unfair to require only those individuals recording real estate documents to be the sources of that funding.             
• SB 391 is a recording TAX. While it may not apply to sale transactions, it still applies anytime a homeowner needs to record a document (e.g., refinancing, transferring into or out of a trust, liens, quit claim deeds, etc.).
• SB 391 provides no guidelines; it doesn’t prioritize affordable housing needs and requires little oversight. There is nothing in the bill that specifies how funds should be awarded and it provides little oversight as to the best uses of the funds. While it contains an audit requirement, that requirement doesn’t even kick in until the end of the program’s second year, when $1 billion could have already been distributed.  And, it’s “geographic” approach to distributing the funds doesn’t ensure the neediest Californians benefit from the program. 
• While C.A.R. aggressively supports the creation of homeownership opportunities, SB 391 is clearly not the way to achieve that goal. 

Financial Perks of Homeownership Infographic

If you, or someone you know, is considering buying or selling a home this year, 

please contact your favorite Comet Realty agent today for excellent representation. 

805.546.9925

(HINT: look to the right to see our team of Realtors®)

Just Listed: 1845 Laguna Del Campo, Templeton, CA

Stunning single level home located in the Spanish Lakes gated community. The kitchen features beautiful hardwood floors, granite countertops and a Viking range. Spacious master bedroom and bath has two walk in closets. Spectacular backyard has a pool, covered patio area and a built in BBQ area - perfect for entertaining or relaxing. Tremendous attention to detail throughout the home. This move-in ready gem is a must see!

Just Listed at $1,075,000 

by Mike Copeland Realtor® 

805-441-9021, Mike@CometRealty.com

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