Email question of the day: What is EMD?   EMD is a Swedish band but I am making the assumption that my client's question actually referred to the Earnest Money Deposit. The Earnest Money Deposit is the amount the buyer's give to accompany the purchase agreement. In general terms it indicates that the buyer is serious about his or her offer. In the Bakersfield real estate market the emd is generally 1 to 2 percent of the purchase price with a minimum of $1000. It is typically held by the escrow company until closing at which time it shows up as a credit on the buyer's closing statment and is used to pay some of the buyer's expenses. The EMD is often in the form of a personal check although some agents/sellers are now requesting certified funds such as a cashier's check. The EMD can be ma... 05/03/2011

  Is it legal to raise chickens in Bakersfield, CA? Last year our family started our own little chicken operation. We built a coop and acquired some chicks. It has been fun watching the chicks grow into adults and now we have all the eggs we could possibly eat.  So, is it legal? Like many folks in the Bakersfield area, we don't actually live inside the city limits. Our area is governed by the the Kern County municipal code and according to that code it is  permissible to keep up to 12 chickens. In some zoning areas it is permissible to keep even more. The city of Bakersfield is a bit more strict. Here is the section from the Bakersfield Municipal code  6.08.010 Keeping prohibited—Exception. It is unlawful for any person to keep or have under their care, custody or control, either as ow... 05/02/2011

Snap shot of the Bakersfield high end housing market                                  homes listed/contingent/pending  currently      homes sold in the last 6 months 300-399k                              158                                                                                         123 400-499k                              65                                                                                           41 500-599k                              27                                                                                           12 600-699k                              15                                                                                           1 700-799k                              8                                                         ... 04/12/2011

HUD Home in East Bakersfield. Gated Community. This home features 3-bedrooms, 2-baths and 2-car garage. Per HUD, property is 1608 square feet. Open floor plan. Kitchen has breakfast bar, pantry and tile floor. Separate dining room. Spacious living room. Master bath room has double sinks and soaking tub. Large backyard is ready for your personal touch. Conveniently located close to schools, parks and shopping. Easy freeway access. Priced at $67/square foot. Hurry, this will not last long! 03/04/2011

  FHA will be waiving their 90-Day Rule for flipping houses, starting February 1,2011 when it was set to expire. The waiver is planned for 1 year. it means that investors will have the option to buy fix and sell at any time after their purchase, without having to wait 90 days prior to selling to an FHA buyer. According to FHA Rules, there are a few  other  requirements for these transactions: 1. All transactions must be arms-length, meaning that there must not appear to be any impropriety taking place between buyer and seller. This requirement also indicates that any prior flipping activity on the home in the previous 12 months may be a red flag to the lender. 2. In cases where the sale price exceeds the previous purchase price by more than 20%, the lender will be required to take extra... 01/19/2011

7614 Stargaze Dr BAKERSFIELD, CA 3BR/2BA Single Family House $109,900 Year Built 2003 Sq Footage 1,210 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size 6,490 sqft HOA/Maint $0 per month Description3 Bedrooms and 2 bathrooms single family residence with a tile roof and a 2 car garage. Award winning schools.All Purchase Agreements must contain the following statement in the body of the Purchase Agreement: See attached Sellers addendum, which addendum is incorporated herein by this reference.''A $75.00 BUYER PAID DOC FEE PAID AT CLOSING.ALL CONTRACTS/OFFERS ARE SUBJECT TO ONEWEST SENIOR MANAGEMENT APPROVAL AND ANY OFFERS OR COUNTER OFFERS BY ONEWEST ARE NOT BINDING UNLESS THE ENTIRE AGREEMENT IS RATIFIED BY ALL PARTIES.Buyer to verify all info.Subject to cance... 12/23/2010

These may be some helpful tips for home owners facing foreclosure. For professional advice, seek a licensed real estate broker/agent such as Majestic Properties/Keller Williams Luxury Homes. www.mymajesticproperties.com or btipton@kw.com   1. Reinstatement...This is bringing your loan payments up to date with additional late fees and legal fees that the lender has issued. This can be done up to the auction date. It is not recommended to wait until the last second to do this option. You may contact the lender for the reinstatement letter and pay this off in 1 payment. 2. Re-payment or forbearance plan.....This option is chosen when the initial issue causing missed payments was temporary. A lender may set up plan to make up the missed payments over a specific period of time or add the mis... 11/26/2010

This may be helpful to home owners wondering if they qualify for a short sale 1. An acceptable hardship requirement. There must be a hardship involved in order for the seller to qualify for a short sale. Some examples of acceptable hardships include death, divorce, severe illness, loss of employment,military service, damage to property, inheritance, incarceration,  increase in mortgage payment. For a more in depth list of possible hardships visit our website at www.mymajesticproperties.com or contact us at btipton@kw.com or by phone 661-706-9401. 2. Requirement for insolvency. Insolvency is when a home owner is not able to pay their debt after using their liquid cash or assets.   There is no short sale just because the homeowner owes more than the home is worth. There must be a hardship... 11/26/2010

Specializing In Helping You Survive the Housing Crisis       My name is Miguel Garcia and I am a Real Estate agent who specializes in assisting homeowners who are faced with tough decisions in today's housing market.   Are you overwhelmed by your options? Wondering if a short sale is the right decision for you and your family? It's hard to know what questions to ask and what answers to seek, so I'm offering my help. Together, we can navigate through the process.    I've been certified by the Harris Real Estate University and specially trained to negotiate with mortgage companies to sell homes for less than what is owed.   This is called a SHORT SALE and it is a very easy process for the homeowner.    Did you know that when you short sale your home, there is NO COST TO YOU? Your mortgage... 08/19/2010

When it comes to selling a home most sellers want to make sure the amount advertised reflects the price they paid for the home, upgrades, maintenance, location, beauty, real estate fees, and profit.  The seller can ask any price they want for their home, but will the buyer pay it? I have shown many sellers a Comprehensive Marketing Analysis (CMA) and color photos of the exterior and interior which estimates the price of the home to be $200,000, only to have the seller reply "see this proves my house will sell for $299,900 - besides I need to price my property high so I will have room to negotiate." The seller looks at their home t rose colored glasses. That white tile that was popular in the 80's may only measure 3x6 ft in the entryway, but that seller believes it is custom. Oh, the bat... 08/10/2010

This information is to assist any homeowners that may possibly be facing foreclosure.  There are certain basic steps that are taken before a foreclosure can be implemented. Default........This is usually the first step in the foreclosure process. It is when a payment is missed on the property either to the lending party, taxes, or a homeowners association. Legal Notice.......This must take place in order for the foreclosing party to notify the owner of the property that they are entering the foreclosure process. For those of us in California this is called a Notice of Default (NOD). It can be delivered through personal service or published in the newspaper. Auction Date.......This is the date the trustee (the person or company hired and responsible for administering the assests of the b... 06/27/2010

NMLS has posted the pass rates for the MLO SAFE Test for May as listed below: National Component first-time test takes is 71% National Component re-takes is 44% (ouch!) Aggregate State Component is 79% Aggregage State re-takes is 60% Check out the Hughes School for study materials to help you pass your exam!     06/18/2010

Tomorrow night is the Bakersfield Street Fair!  Go Green at the second annual buyers and sellers Home and Garden street fair expo.  We will be there to provide the public with any information on buying and selling a home including loans, insurance, and NMLS education for Loan Officers.  The Hughes Group will also be giving out snow cones so make sure to stop by our booth!  It is downtown from 6:00pm to 9:00pm, hope to see you there! 06/16/2010

Everyone in the local Bakersfield area, Hughes Group will be out at the downtown street faire this Thursday 6/17 giving out snow cones and letting people know about all of the things that we offer.  We will have staff on hand to talk real estate, insurance, and NMLS education.  Hope to see you out there! 06/11/2010

Don't be fooled by a guarantee!  If you need to do any education for your NMLS or are taking a crammer study course for the National or State exam; don't believe any company who "guarantees" you to pass!  NMLS states that all advertising must be truthful and void of any misleading statements or guarantees.  Some approved course providers have a "100% pass guarantee" but it is IMPOSSIBLE to guarantee that anyone will pass their national exam when they go sit down and take it.  What many schools will do is guarantee a refund if you do not pass or let you keep taking classes until you pass. Just a heads up for those who think a guarantee will secure their passing of the national exam.  At the Hughes School we guarantee that if you passed your SAT with a 3200 then you will pass the national... 06/08/2010

New to California Mortgage Brokers and Officers who need to take their state exam, we now have a California state specific study guide to help you prepare for your state exam.  For more information on the exam or study guides check out out website http://www.thehughesschool.com 04/16/2010

Are you worried about the 70% fail rate for the NMLS test?  It is a hard test!  If you feel like you need a refresher for your exam you might want to think about taking our crammer course.  The Crammer is an 8 hour lesson, broken up into 4, 2 hour sessions via live webinar.  This will cover all the material that will be on the NMLS exam as well as refresh you and some basics in mortgage lending.  They are scheduled every week on our website and you can take them at your own pace.  Check it out: http://www.thehughesschool.com/courses-a-schedules?page=shop.product_details&flypage=flypage.tpl&product_id=2&category_id=1 04/07/2010

  News Release FOR IMMEDIATE RELEASE CONTACT: Bart and Tracey Tipton tracey@mymajesticproperties.com (661)333-2301 or (661)706-9401 Keller Williams Realty Continues to Grow in Luxury Homes Market Luxury Homes Division Stakes a Claim in Bakersfield  Bakersfield, California 2/26/10 - Keller Williams Realty Bakersfield has announced that it has added agents to facilitate the Luxury Homes arm of its business. Dedicated to serving the high-end home market, the members-only Luxury Homes division of Keller Williams Realty offers eligible associates extensive training and a luxury home designation. The Keller Williams Realty division is spearheaded by Dee Shultz, a long time leader in the luxury homes market in Austin, Texas.  She says that this program allows more KW associates to capitalize ... 03/24/2010

Address: 3228 Monterey Street, BAKERSFIELD CA 93306 (Kern county) Price: $45,000 As-Is Value: $45,000 Appraisal Date: 01/21/10 Bed/Bath: 2/1 Sqft: 903 Year: 1950 FHA Financing: Uninsured (UI) 203K Eligible: Yes List Date: 02/12/10 Bid Deadline: 02/21/10 at 23:59:59 PST Priority: Owner Occupant Property Condition: Click here to view the Property Condition Report Status: Property Available for Bidding (Owner Occupant Priority) MORE INFORMATION: Only HUD registered Brokers can place a bid. Click here to learn more about HUD homes,     Special Comments To See  This Home Or To Make An Offer  Call Me Now!!! I'm A Hud Register Agent Hablo Español 02/13/2010

 HUD homes might be your best option I'm HUD APPROVED broker Call Me Today!!!!  Address: 2403 Basque Hills Drive, BAKERSFIELD CA 93313 (Kern county) Price: $162,000 As-Is Value: $162,000 Appraisal Date: 01/08/10 Bed/Bath: 3/2 Sqft: 1,857 Year: 2006 FHA Financing: Insured (IN) 203K Eligible: Yes List Date: 01/29/10 Bid Deadline: 02/07/10 at 23:59:59 PST Priority: Owner Occupant Property Condition: Click here to view the Property Condition Report Status: Property Available for Bidding (Owner Occupant Priority)   DEADLINE IS FEB. 07,2010   HURRY!!!! 02/03/2010