April 30th, 2008
When you are cruzin’ though the MLS you have probably seen the different pending icons. What do these mean…..
PR- Pending Continue to Show with Release Clause ……. Offer accepted, subject to release clause
PS- Pending Continue to Show Seeking Backups…… Offer accepted but backup offers welcome
PN- Pending Do Not Show…….. Offer accepted and expected to close
What do these mean to you?
PN - you are out of luck!!
PR - there is variable in the contract or with the seller that could possibly bring this home out of the contract.
PS - your offer will not be the one accepted. If for some reason the offer that was accepted can not complete or backs out then yours can be the next offer in line.
With the short sales on the market there could be a possibility that even though the status has changed to PR or PS the listing agent will still take your offer for the bank to review. The bank will choose the offer that they decide is best.
If you would like to learn more information or have additional question please feel free to contact me directly.
Posted on April 30th, 2008 in Buyers, General | Comments Off
April 22nd, 2008
Today is earth day and to celebrate may I suggest doing some easy and quick energy saving home improvements.
- Exchange your incandescent light bulbs with the energy star compact florescent light bulbs (CFL) The government is subsidizing the price making them .99
- Weather strip your drafty doors and windows
- Change your old thermostat for a new updated energy star thermostat and program it to turn off at night
- Use cleaning products that are labeled DfE (Designed for the environment) these products help reduce household hazardous waste which are less toxic to our environment
- Instead of using a fiberglass air filter switch to Electrostatic filters. They are 97% efficient at filtering all indoor and outdoor pollutants.
- Place an aerator in your faucet this will save you gallons of water and increase the water pressure. You will not even notice that you are saving water.
- Turn off the light when you leave a room
- Do not leave the water running when you are brushing your teeth or doing dishes
- Turn off unused equipment like your computers, printer, fax machines, and radios
- Lower the thermostat on your water heater to 49 degrees
- Insulate your water pipes to reduce condensation
- Install a low-flow shower head
- Landscape with plants that require less care. This will conserve water and chemical use
- Purchase solar outdoor lights instead of electric
- Seal off your unused chimney with Styrofoam
- Use paints that are labeled VOC (Volatile Organic Compounds)
- If you are thinking about purchasing any new appliances or making any type of improvement on your home purchase ones labeled with the energy star.
Doing just simple tasks around your home will not only help improve our environment but also save money for you. Teach your children the simple things like turning off the light and not keeping their electronics plugged in.
Posted on April 22nd, 2008 in General, Uncategorized | Comments Off
April 16th, 2008
Mediation
Dictionary:
| 1. |
action in mediating between parties, as to effect an agreement or reconciliation. |
Explanation:
Mediation is a non-binding (not lawful) process in which Parties that are in a dispute meet with a neutral mediator. The mediator is selected by the parties. A mediator is a specialist in the field of your dispute, or you can choose a mediator who is a specialist in dispute resolution, or you can choose a mediator who is both an expert in the subject matter of the dispute and an expert dispute resolver. If the Parties cannot agree on a mediator, the Superior Court shall appoint a mediator. The mediator will try to work out a mutually acceptable resolution. The mediator does not impose a settlement on the Parties. The mediator may conduct more than one session and mediation fees shall be paid equally by participating Parties. Matters excluded from arbitration (Para. 12(b)) are also excluded from mediation.
Arbitration
Dictionary:
| 1. |
the hearing and determining of a dispute or the settling of differences between parties by a person or persons chosen or agreed to by them |
Explanation:
Arbitration is a private dispute resolution process in which Parties (by themselves or through their attorneys) submit disputes to a neutral arbitrator who is charged with rendering a fair and impartial decision as to all issues presented. The arbitrator will be a retired Superior Court judge or a licensed California attorney with at least 5 years real estate experience. If the Parties cannot agree on an arbitrator, the Superior Court shall appoint the arbitratorWhen arbitration is selected, the Parties give up their rights to trial by judge or jury and to full and formal court process. Rules of evidence and procedure are less rigid than in trial court.Arbitration fees are typically on an hourly basis. The decision of the arbitrator is final and binding on all Parties to the arbitration agreement The arbitrator can award compensatory damages, punitive damages, and/or order specific performance, injunctive relief and declaratory relief. No trial or other court process is available to re-try the case or to appeal the merits of the arbitrator’s ruling. This means that even when a party claims the arbitrator made a clearly wrong decision, based on a misunderstanding of fact or of law or an unwillingness to follow the law, that decision nevertheless remains final and unappealable. Only in cases of actual fraud in the arbitration process, corruption, bias, lack of due process or jurisdiction, or arbitrator’s computation error, can an award be vacated or modified. The Parties are advised to confer with legal counsel for advice before committing to binding arbitration.
Exclusions from arbitration include: unlawful detainer (The act of retaining possession of property without legal right.), foreclosure-related actions and matters within Small Claims Court jurisdiction.
Posted on April 16th, 2008 in Buyers, General, Sellers | Comments Off