Caroline Chai's (sttsou) Blog

According to Freddie Mac, 30 year moorage rates drop below 5% setting new record for the lowest mark since 1971. This week on 01/17/09, the rate dropped to 4.96% down from previous record of 5.01%. It is the 11th straight weekly drop that is way below 5.69% at the same time last year.

With the rapid price drop and low interest rate, is this the time to purchase a home? Here is a list of 4 types of buyers who shall not consider buying now. 1. Older couple downsizing. It is financially more favorable to do downsizing when the market is going up. 2. Buyers with unstable future ea...

In California, tenant can not use the security deposit in lieu of the last month rent. If landlord did not receive the last month rent after tenant gives a 30-day move out notice, landlord need to contact tenant immediately to collect the rent or serve the "3-Day Notice To Pay Rent Or Quit" notic...

Most agents do not like to work on short sales for the fact that short sales are 2 to 4 times more paper work and less pay. Here's why: 1. In a regular sales, agents deal with only one principle, the seller. In a short sales, agents are dealing with multiple principles including the seller and th...

Often times, I have clients who are getting married or in need of transfer title to a family member. To do so in California, you can do it yourself by performing the following 3 tasks: 1. Sign a quick claim deed 2. Have it notarize and 3. Record it with the county. Or you can have a escrow compa...

If you short sale your property before end of 2009, your will not owe any income tax on the amount that is short for primary residence. Suze Orman explaining the new tax rules for short sale. Please click on the photo below to view it.

May this new year adorn your life with many beautiful things and sweet memories to cherish forever. And care of those whom the heart holds close, along with abundant joys and happiness, for you and your family. Wishing you life's best this New Year.

With love and appreciation at Christmastime and always. Wishing you a beautiful holiday season and a new year of peace and happiness.

There are 4 stages in a short sale transaction: 1. Offer solicitation stage I This stage is controlled by the seller and time frame shall be as short as possible. A good agent shall be able to help you price your house to get offers within a week the house is listed on the market. 2. Lender appro...

If a short sale property is already listed at below market price, how much shall a buyer offer on the property? To answer this, we need to understand seller's and lender's prospective first. 1. Seller's Prospective Since sellers owe more than the house's worth, they will not net any profit once t...