Tuesday, May 31, 2016

Selling Your Home? Read On ...

Home selling hints:
·         Price it right … overpriced homes will sit stagnant on the market and you will end up lowering the price over time.
·         Remember to stage-even the closets. Buyers are always looking for more storage so clean out the unneeded “stuff” and make them appear spacious.
·         Maximize the light in the house, both natural and with in-home lighting. Make it light and bright as they say.
·         Show off the kitchen!!!
·         Make sure your agent has an aggressive marketing campaign to maximize your home’s value.
·         Don’t spend big $$$s on expensive upgrades to sell.
·         Always be ready to show the best your home has to offer.
·         First impression is the only one that matters.

For further tips and advice on selling, contact Tim!

Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
Call/Text 858-354-2354
BRE #01224576

Friday, May 20, 2016

The Move - The Family

Excited about selling your home and moving… or dreading the packing and the moving?                             
Your attitude is contagious to your children and family members. If you look at moving as an exciting adventure full of fun, new possibilities, then you’re halfway to getting your children on board for a ride.

Most adults and children don’t like the changes associated with moving, so it’s your job to get them looking forward to it. The younger the child, the less able they are to “see into the future” as you do. They tend to focus on missing friends and family.
Acknowledge and empathize, but balance your/their feelings with what’s to be gained.
·         Communicate patiently and frequently. Let family know, step by step, what is happening and what is likely to happen next. Tell them what the move means to the family – how important it is. 
·         List all the advantages there are for the move. For example, will the family be closer to Grandma, or another favorite person? Will they be closer to the ocean, a park or other favorite place? If you promise they’ll be able to see old friends and family frequently, be sure to keep your promise.
·         Show as many pictures of their new home, neighborhood and city as possible. Allow everyone in the family to participate.
·         Introduce family to the new community online. Draw a map or print one out and show how close things are… where schools are, where favorite Auntie lives, and other points of interest to help them orient themselves in their new surroundings.
·         Be ready for those “What about me?” questions.  Explain… knowing they won’t have to give up favorite hobbies or sports goes a long way toward helping thru the adjustment.
·         Keep your child occupied by letting them plan what to pack and what to take in the car on the way to their new home. Pack a box or two of their special things and make sure it arrives at your new home before you and the kids arrive so they won’t have to wait for their favorite things until everything’s unpacked.
·         Encourage family to take the time to exchange good-byes with friends and loved ones and get addresses, e-mail addresses, and phone numbers to stay in touch.
·         Try to stick to normal routines as much as possible. We are all creatures of habit, don’t break those habits.
·         So, stay calm and make the choice to have an engaging, fun adventure with the move to your new home.  ENJOY!
Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec                                                                           Call/Text 858-354-2354                                                                                                                                           TimBro97@aol.com                                                                                                      www.TimBroHomes.us                                                                                                                                                BRE #0122576

Thursday, May 19, 2016

Home Buying/Selling Notes Part 3 of 3

Understanding Preliminary Reports        
Will the Preliminary Report disclose the complete condition of the title to a property?
No. It is important to note that the preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land, but merely report the current ownership and matters that the title company will exclude from coverage if a title insurance policy should later be issued.
Is a Preliminary Report the same thing as title insurance?
Definitely not. A preliminary report is an offer to insure, it is not a report of a complete history of recorded documents relating to the property. A preliminary report is a statement of terms and conditions of the offer to issue a title policy, not a representation as to the condition of title.

These distinctions are important for the following reasons: first, no contract or liability exists until the title insurance policy is issued; second, the title insurance policy is issued to a particular insured person and others cannot claim the benefit of the policy.

How do I go about clearing unwanted liens and encumbrances?
You will wish to carefully review the preliminary report. Should the title to the property be clouded, you, your escrow company and your agents will work with the seller and the seller’s agents to clear the unwanted liens and encumbrances prior to taking title.

Who can I turn to for further information regarding Preliminary Reports?
Your real estate agent and/or your attorney can help explain the preliminary report to you. Your escrow and title company can also be helpful the sources.

In conclusion, in a business which is directed at risk elimination, the efforts leading to the production of the preliminary report, which is designed to facilitate the issuance of a policy of title insurance, is perhaps the most important function undertaken.

For more information regarding selling or buying property in SoCal, call Tim.

Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
Call/Text Tim 858-354-2354
Email TimBro97@aol.com
BRE #01224576

Tuesday, May 17, 2016

Home Buying/Selling Notes Part 2 of 3

Understanding Preliminary Reports                                                                     

When and how is the Preliminary Report produced?                                                                                                                                                                                           Shortly after escrow is opened, an order will be placed with the title company which will then begin the process involved in producing the report.
This process calls for the assembly and review of certain recorded matters relative to both the property and the parties to the transaction. Examples of recorded matters include a deed of trust recorded against the property or a lien recorded against the buyer or seller for an unpaid court award or unpaid taxes.

These recorded matters are listed numerically as “exceptions” in the preliminary report. They will remain exceptions from the title insurance coverage unless eliminated or released prior to the transfer of title.
What should I look for when reading my Preliminary Report?                                                               

You will be interested, primarily, in the extent of your ownership rights. This means you will want to review the ownership interest in the property you will be buying and the description of the property, as well as any claims, restrictions or interests of other people involving the property.

The report will note in a statement of estate, the degree, quantity, nature and extent of the owner’s interest in the real property. The most common form of interest is “fee simple” or “fee” which is the highest type of interest an owner can have in land.
Liens, restrictions and interests of others which are being excluded from coverage will be listed numerically as “exceptions” in the preliminary report. These may be claims by creditors who have liens or liens for payment of taxes or assessments. There may also be recorded restrictions which have been placed in a prior deed or contained in what are termed CC&Rs—covenants, conditions and restrictions. Finally, interests of third parties are not uncommon and may include easements given by a prior owner which limit your use of the property. When you buy property you may not wish to have these claims or restrictions on your property. Instead, you may want to clear the unwanted items prior to purchase.

In addition to the limitations noted above, a printed list of standard exceptions and exclusions listing items not covered by your title insurance policy may be attached as an exhibit item to your report. Unlike the numbered exclusions, which are specific to the property you are buying, these are standard exceptions and exclusions appearing in title insurance policies. The review of this section is important, as it sets forth matters which will not be covered under your title insurance policy, but which may wish to investigate, such as governmental laws or regulations governing building and zoning.
Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
Call/Text 858-354-2354
Email TimBro97@aol.com
BRE #01224576

Monday, May 16, 2016

Home Buying/Selling Notes Part 1 of 3

Understanding Preliminary Reports

After months of searching, you’ve finally found it, your perfect dream home. But is it perfect? Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that will restrict your use of the property?
The preliminary report will provide you with the opportunity, prior to purchase, to review matters affecting your property which will be excluded from coverage under your title insurance policy unless removed or eliminated before your purchase.

To help you understand this often bewildering subject, we have answered some of the questions most commonly asked about preliminary reports.
What is a Preliminary Report?
A preliminary report is a report prepared prior to issuing a policy of title insurance that shows the ownership of a specific parcel of land, together with the liens and encumbrances thereon which will not be covered under a subsequent title insurance policy.
What role does a Preliminary Report play in the real estate process?                                                       A preliminary report contains the conditions under which the title company will issue a particular type of title insurance policy.
The preliminary report lists, in advance of purchase, title defects, liens and encumbrances which would be excluded from coverage if the requested title insurance policy were to be issued as of the date of the preliminary report. The report may then be reviewed and discussed by the parties to a real estate transaction and their agents.
Thus, a preliminary report provides the opportunity to seek the removal of items referenced in the report which are objectionable to the buyer prior to purchase.
Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
Call/Text 858-354-2354
Email TimBro97@aol.com
BRE #01224576

Tuesday, May 10, 2016

Glorious Victorian Home in Coronado

Glorious Victorian 3 br 2.5 ba home is part of Coronado's history and listed on the historic registry. Home proudly displays the architectural designs of the period - clapboard siding, fabulously colored decorative corbels, large boxed eaves, and a detached "accessory structure" (aka garage). The brightly colored roses and front porch welcome all guests to this marvelous period home. 

Contact Tim Brodowski 858-354-2354

Monday, May 9, 2016

Condo in Hillcrest

This fabulous 2BR/2BA condo in ‪#‎Hillcrest‬ area was recently re-painted. Open living-dining area are perfect for gatherings and entertaining. 

Call Tim 858-354-2354

Friday, May 6, 2016

Mills Act Q & A

Who is eligible to apply for the Mills Act?                                                                                            Owners of Historic Resources in residential zones are eligible to apply. Application forms are available at the Community Development Department. There is a $100 application fee for a Mills Act Agreement.

What happens after I apply?
Applications are reviewed by staff and considered by the Historic Resource Commission at a noticed public hearing. The Commission will make a recommendation to the City Council.
How are Mills Acts approved?                                                                                                                       Each January, the Historic Resource Commission evaluates applications received the previous year to determine historical significance and they are added to the waiting list for City Council approval. Each year, in October, Mills Act applications are considered for approval by City Council at a noticed public hearing. Approved Mills Act Agreements are entered into by the property owner and the City and recorded at the San Diego County Recorder’s office each December.
What are the restrictions associated with a Mills Act Agreement?
·         Preservation of the designated resource is required throughout the term of the agreement.
·         When necessary, restoration and rehabilitation to the property may be required
·         The front façade is considered to be of the utmost importance. Changes to the front façade or any façade facing a public right-of-way (excluding alleys) shall be avoided.
·         Periodic examinations of the property may be required as necessary to determine the owner’s compliance with the agreement.
Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
Call/Text 858-354-2354
Email TimBro97@aol.com
BRE #01224576

Thursday, May 5, 2016

What is the Mills Act?

The Mills Act allows a reduction in property tax on historically designated property. The legislation is not state mandated; each city has the option of implementing the Mills Act and can tailor the program to the needs of the individual community.
Mills Act Agreements are contracts that provide a reduced property tax to a homeowner in exchange for preservation of a Historic Resource. Non-historic additions and new construction are excluded from the Mills Act property tax reduction.
Mills Act Agreements are a ten (10) year contract, renewed annually. This means that on the anniversary date of the agreement, a year is added automatically to the initial term of the agreement, keeping the agreement perpetually ten (10) years from expiration.
Mills Act as Agreements run with the land and will continue to be valid upon a change of property ownership. Homeowners considering applying for a Mills Act agreement should be aware the program is subject to change as deemed necessary by the City Council.
Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilRes Spec
Call/Text 858-354-2354
Email TimBro97@aol.com
BRE #1224576

Tuesday, May 3, 2016

How Long Records Should Be Saved...

Family Papers: Birth, marriage, and death certificates, school transfers, divorce and settlement papers, military discharge, adoption papers, school transcripts, and diplomas, etc...
Holding Period: Indefinitely

Health Records: Copies of forms showing immunizations, hospital stays, operations, medical conditions, medications, allergies and advanced directive.
Holding Period: Indefinitely. Update as necessary.
Tax Records: Records and supporting documents.
Holding Period: Five to seven years. (Check with your accountant).

Property Records: Title insurance policy records, escrow and mortgages, deeds, loan agreements, photos and ID numbers of valuables, etc.
Holding Period: Duration of property ownership, plus several years with proof of loan payments.

Estate Materials: Wills, trusts and burial instructions. Power of Attorney and Advanced Directive.
Holding Period: Indefinitely.

Home Improvement Records: Contracts, receipts, records of costs, etc.
Holding Period: Until home is sold and tax liability settled.

Bank and Savings Account Records: Registers, cancelled checks, receipts, etc.
Holding Period: CD's until maturity, others until tax matters are settled.

Credit Account Records: List of credit cards with contact telephone numbers, records of payment, etc.
Holding Period: Until account balance is $0, or until after tax deductions settled.

Investment Records: Cancelled checks, securities, buy and sell orders, statements and contracts for retirement plans.
Holding Period: Three years past sale for taxes, indefinitely for retirement.

Master Lists of Assets and Liabilities: Record of financial accounts, property owned, insurance coverage, taxes, etc.
Holding Period: Update annually.

Government Documents: Passport, Social Security card, etc.
Holding Period: Indefinitely.

Warranties: Contracts and proof of purchases.
Holding Period: As long as you own the item.

Insurance Records: Policies and household inventory, including photos and appraisals of valuables.
Holding Period: Four years after expiration of policy. Update inventory annually.

Tim Brodowski, MBA, CNE, GRI, BPOR, CIEA, MilResSpec
Call/Text 858-354-2354
Email TimBro97@aol.com
BRE #01224576