Office & Medical Space Now Available!
Contact: Jacob J. Gabrie, Broker
Telephone: 916.933.6699
Town Center Realty
DRE License 01794994
Jacob@edhtc.com
Saturday, November 21, 2009
El Dorado Hills Town Center, now leasing medical, retail and office
Town Center Realty
DRE License 01794994
Jacob@edhtc.com
Wednesday, November 18, 2009
Pair continue to operate real estate "advance fee fraud" scam in Northern California targeting real estate agents in affluent areas
The Alameda County District Attorney’s Office has just contacted El Dorado County Association of Realtors again regarding the following individuals. Please note that these individuals have contacted REALTORS® in the El Dorado County Association. Contact the El Dorado County District Attorney or the Alameda County DA’s Office if you have been approached by one of these individuals.
The Alameda County District Attorney’s Office continues to receive information that the following individuals may be targeting real estate sales agents for a version of “Advanced Fee Fraud.” Sales agents in your organization are urged to be alert for these individuals attempting to run this scam in your area. Sacramento, El Dorado, and Placer Counties are asked to be especially vigilant.
Summary of the Scam: The above suspects, Roger and Diana Buack will pose as interested home buyers of high-end homes. They will target mostly new developments, and homes listed for more than one million dollars. The suspects will approach Realtors and claim to have several million dollars coming to them from “overseas accounts.” After developing a relationship with the Realtors over the course of several weeks or months, the suspects will tender an offer for the property, but claim that the money is being held up overseas due to various excuses. The suspects will ask the Realtor to loan them money for the down payment, plus money to help them pay customs fees to free up their overseas money. The suspects often gave fake documentation to support their claims. In exchange for a loan by the Realtor, the suspects will promise a 100% return on their investment within 48-72 hours of the loan.
Summary of the Suspects: In 2008, suspect ROGER DUNGAN BUACK was convicted in Alameda County, California, of two felony counts of grant theft and identity theft for running the above scam. He served two years in state prison and is currently on parole. In 2008, suspect DIANA L. BUACK was convicted in Alameda County, California, of two felony counts of grant theft and identity theft for running the above scam. She is currently on active felony probation in Alameda County.
The Alameda County District Attorney’s Office has reason to believe the above suspects are currently attempting to conduct the same scam, or a variant of the scam. If you meet suspects Roger or Diana Buack, and encounter suspicious activity, you are urged to call the Alameda County District Attorney’s Real Estate Fraud Division at (510) 569-9281, attention: Deputy District Attorney David Lim. Reference case # 124838.
The Alameda County District Attorney’s Office continues to receive information that the following individuals may be targeting real estate sales agents for a version of “Advanced Fee Fraud.” Sales agents in your organization are urged to be alert for these individuals attempting to run this scam in your area. Sacramento, El Dorado, and Placer Counties are asked to be especially vigilant.
Summary of the Scam: The above suspects, Roger and Diana Buack will pose as interested home buyers of high-end homes. They will target mostly new developments, and homes listed for more than one million dollars. The suspects will approach Realtors and claim to have several million dollars coming to them from “overseas accounts.” After developing a relationship with the Realtors over the course of several weeks or months, the suspects will tender an offer for the property, but claim that the money is being held up overseas due to various excuses. The suspects will ask the Realtor to loan them money for the down payment, plus money to help them pay customs fees to free up their overseas money. The suspects often gave fake documentation to support their claims. In exchange for a loan by the Realtor, the suspects will promise a 100% return on their investment within 48-72 hours of the loan.
Summary of the Suspects: In 2008, suspect ROGER DUNGAN BUACK was convicted in Alameda County, California, of two felony counts of grant theft and identity theft for running the above scam. He served two years in state prison and is currently on parole. In 2008, suspect DIANA L. BUACK was convicted in Alameda County, California, of two felony counts of grant theft and identity theft for running the above scam. She is currently on active felony probation in Alameda County.
The Alameda County District Attorney’s Office has reason to believe the above suspects are currently attempting to conduct the same scam, or a variant of the scam. If you meet suspects Roger or Diana Buack, and encounter suspicious activity, you are urged to call the Alameda County District Attorney’s Real Estate Fraud Division at (510) 569-9281, attention: Deputy District Attorney David Lim. Reference case # 124838.
Monday, November 16, 2009
Town Center Realty Tip of the Week: E-mail communications excellent for record keeping to avoid the "he said she said" in real estate transactions
Town Center Realty Tip of the Week: E-mails are worth their weight in cyber gold
There is nothing worse than the proverbial, "he said she said" especially in real estate transactions. To avoid this type of controversy e-mails work well.
E-mail communications help document conversations and can be a life saver especially in the more complex real estate transactions where negotiations can take longer and become more time consuming.
E-mails can be especially important to consumers as they help save time and eliminate misunderstandings. Usually a quick e-mail following a telephone conversation can help remedy any confusion and help ensure that the parties are on the same page.
If you are looking for commercial or residential real estate or property management services in California contact Town Center Realty today. TownCenterRealty@yahoo.com
Jacob J. Gabrie is a California Real Estate Broker, CA DRE License No. 01794994 and a certified Commercial Shopping Center Manager (CSM). He is General Manager of the El Dorado Hills Town Center, a lifestyle mix-use center and CEO of Town Center Realty, a full service realty firm. He is a graduate of University of California at Berkeley with a dual degree in Corporate Finance and Real Estate Urban Land Economics and a member of ICSC, IREM, NAR,EDCAR & Delta Kappa Epsilon Fraternity Theta Zeta Chapter
There is nothing worse than the proverbial, "he said she said" especially in real estate transactions. To avoid this type of controversy e-mails work well.
E-mail communications help document conversations and can be a life saver especially in the more complex real estate transactions where negotiations can take longer and become more time consuming.
E-mails can be especially important to consumers as they help save time and eliminate misunderstandings. Usually a quick e-mail following a telephone conversation can help remedy any confusion and help ensure that the parties are on the same page.
If you are looking for commercial or residential real estate or property management services in California contact Town Center Realty today. TownCenterRealty@yahoo.com
Jacob J. Gabrie is a California Real Estate Broker, CA DRE License No. 01794994 and a certified Commercial Shopping Center Manager (CSM). He is General Manager of the El Dorado Hills Town Center, a lifestyle mix-use center and CEO of Town Center Realty, a full service realty firm. He is a graduate of University of California at Berkeley with a dual degree in Corporate Finance and Real Estate Urban Land Economics and a member of ICSC, IREM, NAR,EDCAR & Delta Kappa Epsilon Fraternity Theta Zeta Chapter
Thursday, November 12, 2009
California Association of Realtors mortgage update
C.A.R. Mortgage Update
Q&A: How to rent your home from Fannie Mae
Fannie Mae last week announced a new Deed for Lease™ program. The new program allows borrowers to voluntarily transfer their property back to the lender and then lease back the house at market rate.
The lease period is for up to 12 months, with month-to-month contract extensions after that period. The program is designed for borrowers who do not qualify for or have not been able to obtain other loan-workout solutions, such as loan modifications.
To participate in the program, borrowers must live in the home as their primary residence and must be released from any subordinate liens on the property. Tenants of borrowers in this circumstance also may be eligible for leases under the program. Borrowers or tenants interested in a lease must be able to document that the new market rental rate is no more than 31 percent of their gross income.
Homeowners thinking of participating in the Deed for Lease™ program should visit Fannie Mae’s loan lookup Web site at http://loanlookup.fanniemae.com/loanlookup/ to see whether their loan is owned or guaranteed by Fannie. Mortgages backed by the Federal Housing Administration and other government agencies are not eligible for the Deed for Lease ™ program.
To read the full story, please cut and paste the link below: http://blogs.wsj.com/developments/2009/11/06/qa-how-to-rent-your-home-from-fannie-mae/
Q&A: How to rent your home from Fannie Mae
Fannie Mae last week announced a new Deed for Lease™ program. The new program allows borrowers to voluntarily transfer their property back to the lender and then lease back the house at market rate.
The lease period is for up to 12 months, with month-to-month contract extensions after that period. The program is designed for borrowers who do not qualify for or have not been able to obtain other loan-workout solutions, such as loan modifications.
To participate in the program, borrowers must live in the home as their primary residence and must be released from any subordinate liens on the property. Tenants of borrowers in this circumstance also may be eligible for leases under the program. Borrowers or tenants interested in a lease must be able to document that the new market rental rate is no more than 31 percent of their gross income.
Homeowners thinking of participating in the Deed for Lease™ program should visit Fannie Mae’s loan lookup Web site at http://loanlookup.fanniemae.com/loanlookup/ to see whether their loan is owned or guaranteed by Fannie. Mortgages backed by the Federal Housing Administration and other government agencies are not eligible for the Deed for Lease ™ program.
To read the full story, please cut and paste the link below: http://blogs.wsj.com/developments/2009/11/06/qa-how-to-rent-your-home-from-fannie-mae/
Monday, November 9, 2009
El Dorado Hills Town Center is leasing! Terrific location for those who want to work, stay and play in what is now known as EDH downtown district
Office & Medical Space Now Available!
Contact: Jacob J. Gabrie, Broker
Telephone: 916.933.6699
Town Center Realty
DRE License 01794994
Jacob@edhtc.com
Friday, November 6, 2009
New lending regulations hindrance or help to the industry and consumer?
New regulations commenced October 1, 2009 for lending institutions, will they help strengthen consumer confidence?
After the real estate crash experienced in the 21st century, consumer protections are long over due, however Town Center Realty is hesitant to think that after the fact regulations are going to be a cure or provide for a market rebound.
Some of the new regulatory measures being put in effect are:
Lenders no longer able to fund loans without regard to borrowers’ ability to repay the loan established by assets and income.
Creditors will be required to verify the assets and income they utilize to determine the borrowers' ability to repay the note.
Prepayment penalties banned if the payment can change in the initial four years.
Creditors required to establish escrow accounts for property taxes and homeowner’s insurance for all first-lien mortgage loans.
Not all of these provisions are full proof. In fact they may even have a chilling effect upon home sales across the nation and aid in prolonging the real estate crisis.
Town Center Realty believes the real estate crash could have been prevented and that the real estate industry overall needs improved regulations, however these regulations after the fact may not be the answer.
After the real estate crash experienced in the 21st century, consumer protections are long over due, however Town Center Realty is hesitant to think that after the fact regulations are going to be a cure or provide for a market rebound.
Some of the new regulatory measures being put in effect are:
Lenders no longer able to fund loans without regard to borrowers’ ability to repay the loan established by assets and income.
Creditors will be required to verify the assets and income they utilize to determine the borrowers' ability to repay the note.
Prepayment penalties banned if the payment can change in the initial four years.
Creditors required to establish escrow accounts for property taxes and homeowner’s insurance for all first-lien mortgage loans.
Not all of these provisions are full proof. In fact they may even have a chilling effect upon home sales across the nation and aid in prolonging the real estate crisis.
Town Center Realty believes the real estate crash could have been prevented and that the real estate industry overall needs improved regulations, however these regulations after the fact may not be the answer.
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