Last Push for the 2013 Troop Turkey-a-Thon

Thank you for all the generous donations we've received to feed our local deserving families this holiday season.  Remember, $20 feeds a family of 8.  If you find yourself in a position to help, thank you for joining us in this effort.  Please, as always, take care of yourself and your family first, and only if you are able, consider this if you have "a little extra" this holiday season.

Many Thanks!

Please mail your donations to:
Tanner Turkey
c/o The Bystrom Team at Troop Real Estate
484 Los Angeles Ave.
Moorpark, CA 93021

Please make checks payable to Troop Real Estate
Please see attached flyer.

 

Oh, and if you want to see a pic of Tanner Turkey, I took him and a few of his friends for a ride the other day!  :-)

 

 

Latest Flyer for distribution in my neighborhood...

This flyer has caused a TREMENDOUS number of hits on my website (bbreal.net/sold).

Free, Instant access right on your computer screen that you can print, and access ANY TIME!!!  This tool uses live data updated daily to produce recently sold homes in your neighborhood!!!  (Usually less than 1/2 mile away and sold within the last 6 months...)  No E-mail required, no games, this is a FREE service my team has paid for as a courtesy to my clients.

Please enjoy!  :-)

(note:  the limitations of the search are confined to the Southern California Area ONLY.  Also the back end system has issues with condo/townhome Unit Numbers, so those will need special attention via e-mail.)

Here is a screenshot of the flyer that has been circulating my neighborhood with GREAT success!

Interest Rates and Loan Programs

For your review...  Please see the document below.  I had a chance to speak with one of our seasoned CFC Loan Reps this morning about some of the "ins and outs" of the loan business and how "knowledge is power" (actually, some would say, "APPLIED knowledge is power."  I think it's somewhere in the middle, but anyhow...)

He informed me that he is working with a buyer that is interested in a home in the $450K to $500K price range.  His buyer was looking at a "Homepath" listing at about $450K that needed about $50K in work, and the interesting thing is that a Homepath property does not have Mortgage Insurance (M.I.)...  He went on to clarify that the M.I. is actually "built into the rate".  The other home he was interested in was about $500K and needed NO work at all (it was move in ready.).

So... the payment difference was about $65/mo. more for the nicer, more expensive home that was "move in ready."

The moral of the story...  sometimes it pays to do the math!  (And if you don't like doing the math, give me a call, I have plenty of GREAT loan contacts that will be happy to do the math for you, and help you find out what will work best for you!)

Thanks Eddie at CFC for this great info!

Check out my NEW WEBSITE! www.bbreal.net

I have a GREAT new website for you to be able to check out new listings, contact me directly, I can put you on my "drip" system and you can be updated automatically when new listings that meet your criteria come up.

www.bbreal.net


My team has also come up with a GREAT new tool for you to be able to anonymously find the value of recently sold homes in your neighborhood.

Please go to the following website for more info:

www.bbreal.net/sold
(screenshot below)

 

 

Just enter your property address and voila!  (E-mail address is optional!  Not Required! you can just leave it blank!)

(Note:  you MUST put in the "/sold" to get to this website!  Also, please note, my team created this tool, paid for it, and designed it, so we OWN this tool!  This is why you can use it free of charge and anonymously (Well, only you and the NSA will know  :-)  )   and I encourage you to share this great tool with your friends/relatives.)



Best of luck!

Great Information to "Make it a Great Day!"

Thanks Stephen for this excellent e-mail this morning!


1. Exercise. I’ve said it once, I’ll say it again. Most people that work out daily, work out in the morning. Whether it’s a morning yoga session or a trip to the gym, exercising before work gives you a boost of energy for the day and that deserved sense of accomplishment. Anyone can tackle a pile of paperwork after 200 ab reps! Morning workouts also eliminate the possibility of flaking out on your cardio after a long day at work. Even if you aren’t bright eyed and bushy tailed at the thought of a 5 am jog, try waking up 15 minutes early for a quick bedside set of pushups or stretching. It’ll help wake up your body, and prep you for your day.

2. Map Out Your Day. Maximize your potential by mapping out your schedule for the day, as well as your goals and to dos. The morning is a good time for this as it is often one of the only quiet times a person gets throughout the day. The early hours foster easier reflection that helps when prioritizing your activities. They also allow for uninterrupted problem solving when trying to fit everything into your timetable. While scheduling, don’t forget about your mental health. Plan a 10 minute break after that stressful meeting for a quick walk around the block or a moment of meditation at your desk. Trying to eat healthy? Schedule a small window in the evening to pack a few nutritious snacks to bring to work the next day.

3. Eat a Healthy Breakfast. We all know that rush out the door with a cup of coffee and an empty stomach feeling. You sit down at your desk, and you’re already wondering how early that taco truck sets up camp outside your office. No good. Take that extra time in the morning to fuel your body for the tasks ahead of it. It will help keep you mind on what’s at hand and not your growling stomach. Not only is breakfast good for your physical health, it is also a good time to connect socially. Even five minutes of talking with your kids or spouse while eating a quick bowl of oatmeal can boost your spirits before heading out the door.

4. Visualization. These days we talk about our physical health ad nauseam, but sometimes our mental health gets overlooked. The morning is the perfect time to spend some quiet time inside your mind meditating or visualizing. Take a moment to visualize your day ahead of you, focusing on the successes you will have. Even just a minute of visualization and positive thinking can help improve your mood and outlook on your work load for the day.

5. Make Your Day Top Heavy. We all have that one item on our to do list that we dread. It looms over you all day (or week) until you finally suck it up and do it after much procrastination. Here’s an easy tip to save yourself the stress - do that least desirable task on your list first. Instead of anticipating the unpleasantness of it from first coffee through your lunch break, get it out of the way. The morning is the time when you are (generally) more well rested and your energy level is up. Therefore, you are more well equipped to handle more difficult projects. And look at it this way, your day will get progressively easier, not the other way around. By the time your work day is ending, you’re winding down with easier to dos and heading into your free time more relaxed. Success!

Current Market Conditions in Southern California

With the government shutdown, there has been some good news if you are buying or selling a home.  Interest rates have dipped back down a little bit.  Most experts believe this to be a very temporary dip, and due to the stock market selling off, that raises prices in the bond market, so conversely, the interest rates drop.  Again, according to most experts, this is anticipated to be a very temporary dip in the interest rates.  If you are shopping for a new home, I would recommend locking in your loan before the government shutdown is over.  Usually the stability in government leads to more consumer confidence and a rally in the stock market... which will raise interest rates.

In other news, there are more and more homes for sale in the area.  Homes are staying on the market longer, and the appraisal values are coming in a little light (for the most part.)  If you are thinking about selling your home, it still may be a GREAT time to do so.  Interest rates are still near record lows, and home prices have risen significantly over the past year.

Some more GREAT NEWS to report!!!!  My team has recently created, developed and now has given you FREE ACCESS to prices of recently sold homes in your neighborhood anywhere in Southern California, and best of all, we use data that is "live", and is updated daily.  My team financed the entire project for this web based tool, NO E-Mail Address is required to use our search tool, and results are displayed instantly online, just enter the address of the home you are interested in find out what homes in the area have recently sold for, and the system will display recently sold homes (usually within 1/2 mile, and sold within the last 6 months.)  If you are interested in using our fun new toy, give it a whirl at:

www.moorparkrealty.com/sold/

(note, you MUST include the "/sold/" to get to this tool.  If you just use www.moorparkrealty.com, it directs you to my troop website and you are able to search for homes on my website.)

Again, we did this with the intent of giving you the ability to review the data yourself, free of charge, and without having to provide your e-mail address, phone number, or any other personal data!  You just enter the property address of the home you want to find out what the neighborhood has been selling for, and results are displayed instantly!

Of course, if you'd like to e-mail me directly, I'd be happy to help you with the information as well.

Best of luck!  If you're buying, selling, investing, or flipping, give me a call (or e-mail.)

Brett Bystrom
805-338-6560
brettbystrom@gmail.com

Latest Neighborhood Information 10-4-2013

Please see attached flyer recently distributed in the neighborhood.

Are Housing Prices Sustainable?

Forwarded message from CEO of Troop Real Estate, Brian Troop...

message follows:

In March, Radar Logic’s home price index, which tracks 25 metro areas, showed a 13.1 percent year-over-year gain.

Even with the double-digit gain, the data and analytics firm touched on several points to explain why the trend won’t last, with the main one being the temporary issue of limited supply.

At the peak of the housing boom in July 2007, the number of single-family homes available for sale (excluding condominiums and town homes) stood at 3.4 million compared to 1.9 million in April 2013, according to data from the National Association of Realtors.

Also, data from the Department of Numbers’ Housing Tracker revealed inventory for residential properties fell 15.5 percent year-over-year as of May 27. Month-over-month, the tracker showed inventory is up 3.9 percent, and Radar Logic expects inventory to increase further as supply constraints have less of an impact due to rising prices.

According to the report, three supply constraints that will ease with rising prices: low and negative equity, seller psychology, and building activity.

As several analysts have observed, rising prices are allowing low and negative equity homeowners to list their properties, which adds to the overall supply.

Seller psychology will also shift with price gains. According to the report, some sellers are reluctant to list their home during a time when prices appear to be rising, but when they do put their home up for sale, the new supply of homes could inhibit price increases.

After analyzing data from the Census Bureau, Radar Logic also explained that while building activity slowed starting in 2008, activity is picking up again, with permits in April up 150 percent from the low in January 2011.

Demand is also not expected to last, according to the report, since it is driven by low mortgage rates and institutional investors, a group that is also contributing to the shortage of homes available for sale.

Once these “unorthodox” market forces fade, Radar Logic believes demand will also cease.

The decrease in demand may also occur sooner than expected. While mortgage rates remain low, last week, fixed rates rose to the highest level in a year.

“Fixed mortgage rates followed long-term government bond yields higher following a growing market sentiment that the Federal Reserve may lessen its accommodative policy stance,” explained Frank Nothaft, VP at Freddie Mac, in a release.

As for demand from institutional investors, purchases from this group will diminish once the buy-rent strategy is no longer as profitable due to the increase in home values.

Institutional purchase activity has been especially notable in seven metros areas—Atlanta, Los Angeles, Las Vegas, Miami, New York, Phoenix, and Tampa. In these markets, the impact of their exit will be more strongly felt, according to the report.

Recent evidence actually suggests profitability in the single-family rental market is already disappearing.

Radar Logic found the composite price per square foot paid by institutional investors in the 25 markets tracked increased 14.4 percent from a year ago, while data from Trulia revealed asking rents have risen by just 2.4 percent.

 

My team has a new listing!

Maryann is taking the "sign calls" on this one.  Please check it out.  We will be hosting an Open House on Saturday, June 1, 2013 and Sunday, June 2, 2013.  Both days from 1pm to 4pm.

Here is the flyer

Why choose a good Realtor?

There are many things to consider when buying or selling a home.  First and foremost is your choice in a Real Estate Agent.  Why is this such an important choice?  Your agent is obligated to your best interests, both financially and ethically, but there are complications; First by market conditions ever changing, Second, does your real estate agent have knowledge of what they can and should ask for on your behalf during the transactions.  You need to be able to trust your realtor and have faith in their knowledge of market conditions.  For example, if we are in a "seller's market", you cannot make the same demands, offer the same type of offers as you could if we were in a "buyer's market."  You need to be able to trust your real estate agent's word and put some type of trust into the information they give you.  You cannot expect an offer $20,000 below list price to be accepted in a "seller's market."  Similarly, in a "buyer's market" there is no need to offer $20,000 over list price to make sure you get the property.  As a general rule, Realtors take an oath and abide by a code of ethics.  It would be foolish to think that all agents abides by the code of ethics 100% of the time.  After all, we're all human, we all make mistakes.  But that being said, your agent should know the potential dangers and help steer you clear of those pitfalls.  While it is important that you have a good working relationship with your Real Estate Agent, you also need to know that they will "go to bat" for you if worse comes to worse.

I can tell you that I have saved many deals for the many short comings of other agents, I have saved buyers and sellers countless dollars in the form of knowledge of impending dangers and pitfalls, avoided costly escrow extensions, loan lock extensions, and "penalties" for contractual errors.

The bottom line is that there are TERRIBLE Real Estate Agents out there.  Save yourself some time and money and hire a professional.  There is an old saying that basically says, "If you think hiring a professional is expensive, see if you can afford hiring an amateur."

So how do you know the good agents from the bad ones?  Ask around!  Ask your friends who they have used.  Ask them what they thought of their agent.  If they did not have a good experience, take that into consideration.  If they DID have a good experience, also take that into consideration.

Is number of years in business a "good" barometer for whether you are dealing with a good Real Estate Agent?  Yes, and No!  Yes, number of years in business shows experience, but I will warn you that I know of MANY agents who have been in business more than 10 years who I would NEVER want to do business with.  There are also young agents I would LOVE to do business with.  So again, how do you know?  You can also ask for references, you can also look at the other areas of their life.  If they are "well balanced" that is usually a good sign.  I also like to live by the old adage, "by their fruits ye shall know them."  But I would caution you strongly again; Don't automatically associate someone who goes to church every Sunday with someone who truly has a big heart.  Also, by the same measure, don't automatically associate someone who doesn't ever go to church with someone who has a small heart.  Look at how they live their life.  Look at the charities they reach out to.  Listen to the words they speak.  Do they match up with their actions?  In my book, Actions speak Louder than words.

One more thing to think about... even a broken clock is right twice a day.  There are bad agents out there that may have a "good day", and there are great agents out there that may have a bad day.  Consider yourself lucky if you got a bad agent and everything went smoothly, and be forgiving to the good agents who are dealt a bad hand on your particular transaction.

Jumbo Loan Program with NO M.I. and only 10% Down!

Please see the attached flyer from Maurice and Christina at CFC Mortgage Bankers.  The advantage to this loan scenario is that it is intended for Jumbo Loans (Loans greater than $417,000).  It is actually 2 loans (or a Piggy-Back Combo Loan).  If you are interested in more information, please contact Maurice or Christina directly.  Their contact information is on the attachment, or just e-mail me and I can put you in touch with them.

A GREAT Loan Program from CFC Mortgage Bankers

Cheryl Whitney, a loan officer for CFC Mortgage Bankers gave me this great loan program information.  This is a GREAT loan option for some condo/townhomes that are NOT FHA approved.  (This loan program also works with Single Family and PUD homes.)

I like this loan program because it is a HIGH LTV loan program, up to 95% LTV.  There is NO M.I. (Mortgage Insurance) on these loans (the M.I. is built into the rate.), and the condo approval process is relatively simple, when doing the appraisal, the complex must meet at least 50% owner occupied.  There is, however, income limits.  Please see attachments for more details or call Cheryl directly.

Also, note the second page for comparisons in monthly payments with similar loan products that DO have M.I. versus this loan product that does NOT.  The rate is actually slightly HIGHER on these loans, but your payment is LOWER.  No M.I. is a BIG DEAL!  Please see my other posts on the NEW M.I. schedule as opposed to the OLD M.I. schedule.  It is a HUGE difference!

Current Real Estate Market Conditions in Southern California

The market conditions in Eastern Ventura County are CRAZY!  Many properties are being bid up as high as $20,000 over list price... sometimes even more.  I have many buyers that have put in offers on various homes, all of which were offers OVER LIST PRICE, only to have been turned down by "All Cash Offers", higher offers, or other terms.  If you are in the market to buy a home, be prepared to do the following two things:

1.  Go see the property as soon as it hits the market.
2.  Submit a SOLID offer along with a Pre-Approval from a reliable lender.

If you have not gotten preapproved, please read some of my other posts.  I can recommend any of the loan officers that have written and distributed information posted on this blog.  If you would like to search for properties, please use the tool at the top right hand side of my blog.  This will take you to my website. The listing information is updated CONSTANTLY.  If you would like specific target areas/price range/beds/baths, etc. directly mailed to your e-mail inbox as soon as they hit the market, please send me an e-mail and let me know what you are looking for.  I can set it up to "auto e-mail" you as soon as it comes out on the market.  I can usually set this up within 24 hours of receiving the request.  Just e-mail me your criteria.

The following is a graph of recent homes for sale, sold and pending.  You can see the number of homes for sale is very low, and the number of homes sold is actually higher than the number of homes for sale - try to figure that one out!  Also note the "Pending" number increase dramatically last month.  This trend may continue if more homes are not brought on the market.  (Note:  This graph represents Single Family Homes, in Moorpark and Simi Valley only.)

 

 

What are we to learn from the current market conditions?  We need listings. I will repeat myself...  If you have been thinking of selling you home, now may be a GREAT TIME to do so.  Home prices are on the rise, and interest rates are still at near record level lows.  If you have been thinking of selling your home, please give me a call.  If you are out of my service area, I have connections to one of the largest Home Relocation Services in the nation, chances are I will be able to help you find an EXCELLENT Real Estate Professional to help you with your needs.  I LOVE MY JOB!  I would love to help you buy/sell/build/flip your next home!  Give me a call/e-mail/text anytime!

 



FHA Loan Overview

The FHA Loan is probably the most popular loan program these days with the low down payment, deductibility of M.I. for tax purposes, and the deflated market conditions, many homes in the Southern California area have fallen back under the conforming loan limits.  The following information gives the basic guidelines of the FHA Loan Program.

Thanks again to Eddie Khatchatourian for the following information on the FHA Loan Program.

FHA

Federal Housing Administration

    

FHA Features:

==============

1.      Up to 96.5% financing is available. 100% of the down payment and closing cost can be a gift.

2.      No prior credit history is required. Alternative credit references can be used (I.e. telephone bills, utility bills, canceled rent checks, etc.)

3.      Debt ratios up to 48% of gross income.

4.      Flexible underwriting with some derogatory credit is O.K.

5.      Very little cash reserves required.

6.      Seller can pay all closing costs, or certain required closing costs.

7.      The maximum loan limit for FHA loan is currently $417,000 and up to $729,750 in

         high cost areas.

8.      One-time up front MIP (Mortgage Insurance Premium) is charged to the borrower. The MIP equals 1.75% of the loan amount and is generally included in the loan.

9.      MMI (Monthly Mortgage Insurance) at approximately 1.35% of the loan amount is assessed monthly to the borrower up to eleven years.

10. Fixed and adjustable rate loans are currently available for FHA loans. The rate of the interest on adjustable can change by no more than 1% per year.

 

Why FHA ???

1.     Low down payment 3.5%

2.     Liberal qualifying ratios

3.     100% gift funds allowed from family member

4.     Multiple Co-borrowers allowed

5.     Choice of programs and interest rates

6.     Only minor seller participation required

 

For More Details or Free Pre-qualifying             For Professional Real Estate Service

                        Please Call                                                             Please Call       

  Eddie Khatchatourian                        Brett Bystrom

      Senior Loan Consultant  Since 1990                                Cell: 805- 338-6560

Cell: 805/444-4619  Office 805/ 413-8404                          BBystrom@troop.com     

        CFC Mortgage Bankers                                             DRE # 01759918                               

      License # 01096950   NMLS # 303892                                       Troop Real Estate Inc.   

                                                                                                                                                                                                                                                                                                                                                                    

New MIP (Mortgage Insurance Premium) Schedule to take effect THIS year - 2013

The new schedule is dramatically different. Instead of cancelling the MIP at 78%, you will pay your MIP for either 11 years or the life of the loan.  OUCH!

Additionally, they are increasing the rate of coverage (or amount) you will pay, so this will be a substantial increase if you are looking for a loan with a high "Loan To Value."

 

Thanks to the MAC Team (Maurice and Cristina) at CFC for this great information.  Please see the flyer below for more information.

 

 

Have you ever wondered how long you must wait after a Foreclosure? Bankruptcy? or Short Sale?

Eddie Khatchatourian of CFC has provided the following GREAT information if you have gone down, or have been thinking of going down one of these avenues.

Please see attachment below.  Thanks Eddie!

Simi PD cell phone crack-down

Community: Simi Valley Police Department to hold zero tolerance distracted driving enforcement operation.

Hi Simi Valley Police Department Subscriber,

Simi Valley, CA – As part of April’s Distracted Driving Awareness Month campaign, the Simi Valley Police Department will be actively ticketing those texting or operating hand-held cell phones on April 3, 8, 15, 16, 19, and 26, 2013. Drivers who break the law and place themselves and others in danger will be cited with no warnings. The current minimum ticket cost is $159, with subsequent tickets costing at least $279. Last April, over 57,000 tickets were written statewide for texting and hand-held cell use. There were nearly 450,000 convictions in 2012. Whether it’s a ticket or a crash, as the campaign theme states, “It’s Not Worth It!”

Distracted driving is a serious traffic safety concern that puts everyone on the road at risk. In recent years, hundreds have been killed and thousands seriously injured in California as a result of collisions that involved at least one driver who was distracted. Nationally, an estimated 3,331 died in 2011. As a result, law enforcement across the state, including the Simi Valley Police Department, are increasingly cracking down on cell phone use and texting. This April will see over 225 local agencies plus the California Highway Patrol conducting zero tolerance enforcements.

“We all know that talking on our cell phones while driving is distracting, but that doesn't stop some people from continuing to do it,” said Simi Valley Chief Mitch McCann. “This effort is intended to educate our community about the dangers of cell phone use while driving. We hope that once people see the statistics and realize the danger involved, they will change their driving habits to help protect themselves, their families, and others on the road.”


Drivers who use hand-held devices are four times as likely to get into crashes serious enough to injure themselves. Younger, inexperienced drivers under 20 years old have the highest proportion of distraction-related fatal crashes. In addition, studies show that texting while driving can delay a driver’s reaction time just as severely as having a blood alcohol content of a legally drunk driver.

Studies also show that there is no difference in the risks between hands-free and hand-held cell phone conversations, both of which can result in “inattention blindness” which occurs when the brain isn't seeing what is clearly visible because the driver’s focus is on the phone conversation and not on the road. When over one-third of your brain’s functioning that should be on your driving moves over to cell phone talking, you can become a cell phone “zombie.”

To avoid a distracted driving ticket or crash, the Simi Valley Police Department offers drivers the following tips:

•Turn off your phone and/or put it out of reach while driving

•Include in your outgoing message that you can’t answer while you are driving

•Don’t call or text anyone at a time when you think they may be driving

Contact Information:
Lt Blair Summey
Traffic Bureau
805-583-6990
bsummey@simivalley.org

For full details, view this message on the web.

Tax Time 2013

Here is some great information for you if you have not yet filed your taxes.

If you need an EXCELLENT Tax Guru, I have a GREAT referral for you:
Larry Noble
M-L Business Services
1965 Yosemite Avenue #105
Simi Valley, CA 93063
805-582-9201


Thanks to Darlene King of CTC for this.

 

Flyer for my neighborhood 3-22-2013

March 22, 2013

Dear Neighbor,

I have some buyers that love this neighborhood and would like the opportunity to work out a deal with someone who may be interested in selling their home. Now may be a GREAT time to upgrade your own home as home prices have risen significantly over the last 5 months (USA Today, March 19, 2013, http://usat.ly/16FAJyy). Another consideration is that interest rates are still near their lowest levels!

I have a team of:
  1. Loan Modification Specialists,
  2. Short Sale Specialists,
  3. My team deals directly with bank owned properties if you are interested in upgrading.

I also have great contacts for legal and tax advice if you should need them.

If you are not in the market to buy or sell at this time, please keep my business card as I would like to assist you in the future. Also, if you happen to know anyone that may be thinking of selling their home, I would like to be of assistance to them as well.

If you are interested in the current value of your home, I can usually assist with a "Comparative Market Analysis" (CMA) within 24 hours, to give you an ideal of your property value under current market conditions. Please e-mail me at brettbystrom@gmail.com with the subject line - "CMA Request" and your property address.

Sincerely,
Brett Bystrom
Troop Real Estate, Inc.
DRE CA Lic. #01759918
Direct/Text: 805-338-6560
Fax: 801-843-4745
e-mail: brettbystrom@gmail.com
website: http://bbystrom.troop-moorpark.com

Real Estate Climate 3-19-2013 (NewsClip)

Have you been thinking about selling you home? Please read the following information. Many underwater homeowners are coming up for air The Fed reports that Americans have seen the equity in their homes jump nearly $500 billion in the last quarter of 2012 and $1.7 trillion since spring 2011. WASHINGTON — Home equity is back, and it's growing fast. According to the latest data from the Federal Reserve, Americans' net equity in their houses jumped nearly $500 billion during the last three months of 2012 and $1.7 trillion since spring 2011. What does this mean to you personally? Depending on where your home is, it could mean that finally — after years of struggling with an underwater mortgage, one that exceeds the value of the home — you are seeing the market value of your property rise into positive equity territory, or at least closer to the break-even mark. Zillow Real Estate Research estimates that nearly 2 million U.S. homeowners exited negative equity status during 2012 alone. It could also mean that should you wish to sell your house, you're now in a better position to do so. And if your home is in one of dozens of markets that are experiencing severe shortages of listings for sale combined with strong demand from buyers, this spring could bring you a higher price than at any time in the last seven years. Here's what the Fed found in its "flow of funds" study released March 7: • Thanks to recovering housing values, total home equity is now at its highest level — about $8.2 trillion — since the bust and is gaining rapidly. In 2012, it rose a stunning $1.2 trillion. • Outstanding mortgage debt continued to fall as owners paid down their balances and refinanced into smaller loans, taking advantage of unprecedented low mortgage rates. Foreclosures and principal forgiveness by lenders also have helped whittle away mortgage debt. Americans now owe about $1 trillion less on their homes than they did in 2008. Jed Kolko, chief economist for Trulia, an online real estate research and information company, said growing home equity has three key effects. First, owners feel wealthier and are more likely to spend some of that perceived wealth — even if it's illiquid in the form of real estate equity — on goods and services. Second, higher equity reduces the likelihood of mortgage defaults. People have a deeper financial stake in their properties and are less willing to risk loss through foreclosure. Fewer delinquencies, in turn, "mean less stress on the financial system," thereby reducing the probability of another banking crisis a la 2008-09, Kolko said in an interview. Finally, by encouraging owners to consider selling — either now or later in the cycle when prices could be even higher — growing equity holdings allow the real estate market to work better, with more transactions, more mobility for families, more new construction, more jobs and so on. Doug Duncan, chief economist for mortgage investor Fannie Mae, said the recent jump in equity "puts us back on track toward where we were prior to the crisis" and represents a "transition to normal" conditions in the housing market. Though there are markets where last year's double-digit price gains look bubbly and unsustainable to Duncan — notably in some of the inland cities of California — the increases in values elsewhere tend to be more modest and solid, simply making up for the declines experienced in the latter half of the last decade. One major market does concern him, however: Washington and its Maryland and Virginia suburbs. Though the District of Columbia has seen significant year-to-year gains in prices recently, Duncan said prices could "flatten out" if the federal budget sequestration and cutbacks in government jobs and defense spending continue for an extended period. Despite the impressive increases in equity reported by the Fed, there's a sobering flip side: There are still millions of owners — nearly 14 million, according to Zillow — who have negative equity. They are often the folks who purchased at the wrong time — near the peak of their local markets from late 2005 through 2006 — or used mortgages that required little or no down payment to buy bigger houses than they could afford. In Miami and Phoenix, about 40% of owners have mortgage debt in excess of property value. In Tampa, Fla., it's 41.5%; Chicago, 37%; Seattle, 33.5%; Columbus, Ohio, 29%; San Diego and Washington, about 28%; and Los Angeles, 24%. The good news from the Fed for most of these owners: The odds are good that you are not as deep in negative territory today as you were 12 months ago.

My Background

A little bit about me.

I am a real estate professional with a strong background in mortgage banking.  I have been in the Real Estate and Mortgage industry since 1999.  I am currently working with Troop Real Estate and my office is in Moorpark, CA.  My service area for Homes for Sale is in Simi Valley, Moorpark, Somis, Thousand Oaks, Camarillo, Oxnard and surrounding areas.

I was born in Inglewood, CA. I grew up in North Hollywood, moved to Simi Valley in 1983. I graduated from Simi Valley High School in 1988. I served a 2 year mission for my church and moved to Austin, TX for about 8 years. I fell in love with Texas BBQ. I LOVE Texas brisket and sausage... ribs aren't bad either. When I moved back to Southern California, I really began to miss Texas BBQ. I was married in 2002, and my wife and I have 4 beautiful children. (2 boys and 2 girls.) Anyway, my poor family ate a LOT of bad bbq while I struggled to learn how to smoke a brisket properly. I will be honest, it is a lot of work smoking a brisket for 18 hours, so my wife suggested that I try smoking a Tri-Tip. For those of you that don't know what Tri-tip is, don't worry, it's generally a West Coast "cut" of beef. So, knowing how great brisket was, and not wanting to cut corners, I was very reluctant to try smoking a tri-tip. But interestingly enough, after only a few tries, I found a recipe that I absolutely LOVE for smoking tri-tip. Super smokey, a nice medium rare, super juicy and very tender, and the best part... it only takes about 3 and 1/2 hours to smoke! Try doing that with a brisket! Don't get me wrong, I still LOVE brisket, but many people around here prefer my tri-tip, so you know what they say, "When in Rome..." Maybe one day I will post my tri-tip recipe.

I should also note that ALL information on this website is deemed reliable, but not guaranteed.  No legal or tax advice should be construed from any information on this website.  Many laws, rules, etc. are ever changing, and the date noted on the post should be taken under consideration when reading any information on this website (or any for that matter.)  Thank you, Brett Bystrom

Here is my contact information:

Brett Bystrom
Troop Real Estate, Inc.
DRE CA Lic. # 01759918
Direct/Text:  (805) 338-6560
Fax:  (801) 843-4745
e-mail:  brettbystrom@gmail.com
Website: http://bbystrom.troop-moorpark.com