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April 2009 Dena Land News
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Qualifying for Mortgage Assistance Under The
Homeowner Affordability and Stability Plan
If your total monthly mortgage payments are
greater than 31% of your monthly pre-tax income,
you might qualify for relief. You must prove to your
lender that your payments are greater than 31% of
your income and that you might not be able to keep
up your mortgage payments. In this case, the gov-
ernment is giving the lender incentives to reduce
your interest rate. This could substantially lower
your monthly payment. A loan with a 7.5% interest
rate that costs you about $1,500 per month could get
an interest rate reduction. This means your rate
would be lowered to 4.4%, making your payments
just $1,100 per month.
You probably have to show that you could afford
the reduced monthly payment.
Even if your mortgage payments are not more than
31% of your income, you might qualify for another
kind of mortgage relief. If your mortgage is owned
by Fannie Mae or Freddie Mac (or a government-
backed program), or if your mortgage is insured by
them, you might be able to refinance, even if you
owe more than 80% of what your house appraises
for today. These new rules will make it possible to
refinance up to 105% of your home’s value.
You probably have no idea whether your loan is
owned or insured by a government agency. Your
lender will know that but you probably will not
even have to call the lender to find out. Lenders
will be reviewing all of their loans to find out who
possibly qualifies for mortgage assistance and then
they will be sending out notices.
You will not qualify for assistance on second
homes or investment properties. But, if you have a
duplex or an apartment building with up to four
units, and if you live in one of the units, you can
qualify for assistance.
Owning a home is a keystone of wealth, both financial affluence and emotional security. Suze Orman
April is a month of exciting changes in housing!
You could say April is the month of mira-
cles, at least it is this year. In 2009, Passover
and Easter fall in the month of April, two an-
cient religious holidays with miracles at the
center of the celebration.
But apart of the traditional celebrations,
there are a lot of really wonderful things hap-
pening out there for people. For one thing, in
my business we are seeing many happy buyers,
people who are getting the bargain of their lives on
wonderful properties. And the new stimulus, and
mortgage assistance bills have given many people a
new chance to own a home.
If you are looking for your own April housing
miracle, either to buy or sell, I hope you will give
me a call. I can make it happen! …..Linda
Linda Lane-White
“Singing” Realtor ®
CA Lic #01091347
Notary Public
April 2009
A MONTHLY NEWSLETTER BY LINDA LANE-WHITE—KELLER WILLIAMS REALTY
SERVING MY HOMETOWN OF ALTADENA/PASADENA AND OUTLYING AREAS
DENA LAND NEWSDENA LAND NEWSDENA LAND NEWS
CEEDUB
CONSTRUCTION
RESIDENTIAL & LIGHT COMMERCIAL
With over 30 years of experience, we work with
you to achieve your dream.
Call Today For A Free Estimate
(Licensed/Bonded/Insured)
(626) 786-1229 CHRIS WHITE, OWNER
Ca Lic #883002
www.ceedubconstruction.com
Spring Fun In The Sun Across
1. Icky stuff
5. Use a Singer
8. Heroic tale
9. Mimicked
11. Affectations
12. "__ Las Vegas"
13. Embarrassed
15. Dusk, to Donne
16. Sideboard
21. Lady Macbeth, e.g.
22. "___ Misbehavin'"
24. Popular fragrance
25. Fine-tune
26. Nth degree
27. Glitch
Down
1. Govt. property org.
2. Animal shelter
3. Beast
4. A dance for
two people
5. Port and river
in Georgia
6. "Beowulf," e.g.
7. "___ Only Just
Begun"
10. "Dear old" guy
14. Charge
16. Computer monitor,
for short
17. Ramble
18. Exile isle
19. Utah national park
20. "___ Karenina"
23. Two-year-old
sheep
The headline is a clue to the answer in the diagonal.
Lenders Struggle
To Meet Demands
of Refinancing Low mortgage inter-
est rates are prompting a
surge in refinancing.
More than 85 percent of
all mortgage activity in
one recent week in-
volved refinancing, ac-
cording to the Mortgage
Bankers Association.
Because many lend-
ers have reduced their
staffs in the last couple
of years, they are now
lacking the manpower to
quickly process refinanc-
ing requests.
Mortgage Master, a
lender in the Northeast,
will hire up to 200 peo-
ple in the next year.
They say that, at this
time, 90 percent of their
mortgages are refinanc-
ings.
Emergency
Plumbing Calls The editors of This
Old House magazine say
you should know how to
turn off the water in your
home or condo. If you
do, there is no such thing
as a plumber's triple-
overtime emergency
repair.
If you don't know
how to turn off the water
main, call the plumber
and have him walk you
through it. Then you can
wait a day for a service
call.
You don't want the
plumber to come on Sun-
day night or on the
Fourth of July, and he
doesn't want to come
either.
MONEYWISE
Birthday Wishes This Month
Go Out To:
Carole Karamanos—1st
Lisa Matthews—3rd
Victor Wright—8th
Rebecca Fischer—8th
Dawn McCoo—12th
Rob Ross—12th
Chris Thornton-18th
Dena Land News—Linda Lane-White • Keller Williams Realty (626) 786-1231 • www.lindalanewhite.com
April Happenings in Dena Land Apr 4 9 to 3 E-Waste Event. Brookside Park Lot I www.CityofPasadena.net 626/744-4087
Apr 4 10am Three Dog Bakery’s Easter Egg Begg Hunt. Pasadena Central Park 275 S. Raymond.
Easter begg hunt, bone-et contest. Treats. North end of park, South of Dayton. 626/440-0443 Free
Apr 4-5 10-4. Theodore Payne Native Plant Garden Tour. 45 homes on the tour...one is my neighbor
at 478 Alameda in Altadena. Call 818/768-1802 or email [email protected] $20 for both days.
Apr 5 1:30am to 3:30pm. Great Easter Egg Hunt. Rose Bowl Aquatics Center 360 N. Arroyo Blvd.
www.sgvtnt.com/spring/fundraising.php $5 kids, $10 adults
Apr 8 3:30 to 4:30. Ribbon Cutting Ceremony (see page 6 herein) Chris and Linda’s project is done!
Apr 11 9:30am to 2pm (every 45 min) Egg Hunt at Descanso Gardens 1418 Descanso Dr., La Canada
www.descansogardens.org $5 (includes basket, eggs and treat.
Apr 13 11:30. Cloris Leachman at San Marino Center will share how she prepares for roles. Her ap-
proach to the “Business” of show business. Tickets required limit 2 .Free . Must call 626/300-
0777x541. Call early before sold out.
Apr 17 8:30 sharp. My brother, Clayton Lane (aka Nick Grant) at the Comedy Store Belly Room. $5
Apr 18 10am to 2pm. Earth Day 2009. Sanitation Districts of L.A.County 1955 Workman Mill Road,
Whittier.. Tour reclamation plant, enjoy magician, train ride. 562/908-4288 www.lacsd.org FREE
Apr 18/19 10-4. L.A. Zoo Earth Day Expo. 5333 Zoo Drive, L.A. $10 adults, $5 kids 2-12 323/644-4200
Apr 21 10 to 2:30. Job Fair & Career Training 16200 Temple Ave, City of Industry. 626/962-8811 x2473
Apr 22 Earth Day. Reduce your carbon footprint—Save the Earth. Don’t waste power, water or gas.
Apr 23 6 to 9pm. Free Family Movie Night Altadena Community Center “Pride” 730 E Altadena Dr.
Apr 24 Arbor Day. Plant a tree!
Apr 25 10-4.City of Pasadena Greening the Earth Day & Armory Family Arts Festival. Memorial Park
Raymond between Walnut & Holly. 70 booths on green products, etc. www.cityofpasadena.net FREE
Apr 30 6 to 9pm Walter Hoving Home Hoedown 127 S. El Molino, Pasadena 626/405-0950
Active Adults Corner Trust Linda Lane-White as your Seniors Real Estate Specialist®
Pasadena Senior Center Easter Brunch & Dance
April 12—1 to 3 . 2009 Conference on Aging & Educational Faire for the 50+
April 30—8am to 1:30pm 1st Church of Nazarene
Call (626) 685-6755
Genetics Are A Good Choice (except for NTIs)
Considering the huge cost of developing a new drug, drug companies
have to charge a high price for it as long as they have patent protection.
When their patents expire, they and other drug makers can make generic
versions that sell for far less than the original Active ingredients in the ge-
neric are identical, but fillers, preservatives, color and shape can be differ-
ent.
Generics are so cost-effective that pharmacists substitute a generic for a
brand name unless the doctor has written “do not substitute” on the pre-
scription.
Drugs with a narrow therapeutic index (NTI) are often not substituted
and include some heart drugs, anticonvulsants, COPD drugs and immuno-
suppressants. Check with a doctor about generics.
Altadena Senior Center 560 E Mariposa, Altadena
Apr 25 11-1pm Annual Spring Festival
For more info: (626) 798-0505
INGREDIENTS:
Bottle of Pesto Sauce from Trader Joe’s
Pizza Crust from Trader Joe’s
Kalamata Olives
Crimini Mushrooms
Sliced Goat Cheese
Shredded Parmesian
Some old ceramic tiles
DIRECTIONS:
Put all ingredients on top of the pizza crust as you normally
would. Place the pizza on top of a pizza stone. Place in a
500º oven. Place ceramic tiles on rack above pizza and on
each side of the pizza. Bake for about 10 minutes and en-
joy!
Thanks, Ann. We all appreciate this fast and easy recipe!
Ceramic Tile Pesto Pizza (from Ann Albert-Braun)
When Buying or Refinancing...
Call Peter First Peter Cosfol
& Augusta Financial
Get Pre-Approved Senior Loan Officer Augusta Financial is a service oriented mortgage company that specializes in residen-
tial financing. We have many loan programs to help our clients with all of their mortgage
needs.
Peter offers the best pricing with the lowest fees!
Peter will personally address all of your questions and concerns regarding the loan process!
Augusta Financial makes the loan process seem easy!
Augusta is both Broker and Mortgage Banker!
We offer In-house processing and funding!
It’s a GREAT time Buy or Refinance!
(661) 260-2970 Office · (661) 291-2234 Direct · (818) 281-1466 Cell
Recent Area Sales (Derived from PFAR MLS)
Many people are asking me about condo prices...so, here are a few recent sales that will give you some ideas...
Days on Market
Date Sold
List Price
Sold Price Address
City/ Area
Bed/ Bath
S.F. Condo
113 02/20/09 $ 435,000 $ 420,000 401-4 W Duarte Rd Arcadia 2/3 1659
164 03/30/09 $ 459,000 $ 450,000 618 Fairview Ave #228 Arcadia 2/2 1708
171 03/12/09 $ 279,900 $ 268,000 235 Walnut Ct Azusa 2/3 1375
138 03/30/09 $ 559,000 $ 650,000 150 N Almont Dr #303 Beverly Hills 2/2 1611
0 07/10/08 $ 579,000 $ 549,000 740 W 1st St Claremont 2/2 1605
126 12/19/08 $ 580,000 $ 580,000 602 W 1st St Claremont 2/2 1605
202 03/12/09 $ 319,000 $ 295,000 3130 Montrose Ave #15 La Crescenta/Glen-Mo 2/2 1300
84 03/27/09 $ 569,000 $ 550,000 5037 Rosewood Ave #102 Hancock Park (L.A.) 2/2 1432
10 03/27/09 $ 489,000 $ 492,000 3613 Glendon Ave #204 Palms - Mar Vista (L.A.) 2/3 1447
18 02/25/09 $ 465,000 $ 435,000 221 S Oak Knoll Ave #302 Pasadena (SE) 2/2 1250
12 03/25/09 $ 449,700 $ 465,000 330 Cordova St #386 Pasadena (SW) 2/3 1592
111 02/06/09 $ 535,000 $ 530,000 757 S Orange Grove Blvd #3 Pasadena (SW) 2/2 1582
327 03/25/09 $ 489,000 $ 435,000 1000 E California Blvd #307 Pasadena (SE) 2/2 1372
124 03/27/09 $ 838,000 $ 805,000 95 N Wilson Pasadena (SE) 2/3 1871
566 03/27/09 $ 539,000 $ 520,000 591 S Marengo Ave #8 Pasadena (SW) 2/3 1433
128 03/26/09 $ 595,000 $ 520,000 649 Paseo De La Playa #204 Hollywood Riviera (Redondo) 2/2 1374
61 02/02/09 $ 320,000 $ 316,500 935 Lotus Cir San Dimas 2/2 1195
95 02/26/09 $ 409,000 $ 407,000 647 Orange Grove Ave #309 South Pasadena 2/2 1231
60 02/27/09 $ 239,000 $ 239,900 10142 Samoa Ave #5 Sunland/Tujunga 2/3 1329
69 03/20/09 $ 719,000 $ 709,000 636 W Sierra Madre Blvd #B Sierra Madre 3/3 1626
44 02/20/09 $ 699,000 $ 685,000 801 Meridian Ave #U South Pasadena 3/4 1831
Who do you know right now who’s looking to buy, sell or invest in real estate? Give me a call or send me an E-mail. I’m never too busy for your referrals to friends or family.
Disclaimers: All real estate information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither
listing broker(s) nor this company shall be responsible for typographical errors, misinformation, misprints and shall be held totally harmless. If your property is currently listed with another
real estate broker, this is not a solicitation of that listing.
House Hunters
Scoop Up
The Bargains
D rawn by the real estate opportunity
of a lifetime, thousands of small
investors are stepping back into the mar-
ket, say the experts quoted Fortune.
They're not the only ones drawn by
bargain prices on everything from single
-family homes, to duplexes and apart-
ment houses. In December, there was a 6
percent increase in the sale of existing
homes. (In January, new home construc-
tion figures were rising as well.)
Here's how to get the best deals:
* Work with your real estate agent.
The agent will be familiar with available
properties and circumstances of the sell-
ers. It's important to know how long
properties been on the market, which
properties are entering foreclosure pro-
ceedings, and which homes are in good
condition.
* Your real estate agent will be up-to
-date on current government offers for
home buyers and mortgage interest
rates.
What you can do to help:
* Be prequalified by your lender in
order to close a loan quickly.
* For properties in foreclosure, be
prepared with a cash down payment.
* Consider a "short sale." Your real
estate agent can negotiate on your behalf
with a bank and a homeowner about to
go into foreclosure. It allows you more
time to arrange financing. Since the
lender has fewer costs, you could get a
better price.
W ith the value of most traditional
IRAs lowered because of stock
market problems, this could be a great
time to convert to a Roth IRA.
Each dollar you convert is taxed as
ordinary income, so fewer dollars mean
less tax. If you are under age 50, you
can contribute $5,000 a year to a Roth.
If you are 50 or over, it's $6,000.
Contributions to a Roth can be with-
drawn without penalty at any time.
Distributions, interest and dividends
are tax-free if you are at least 59 1/2
and the account has been established
for longer than five years.
You can contribute after age 70 1/2 as
long as you have earned income. There
are no required minimum distributions
during your lifetime.
Another benefit of the Roth: Tax-free
distributions can be passed to your bene-
ficiaries.
It's easy to open a Roth IRA. It can be
done online at Wachovia bank or Fidelity
Investments and many others.
You can choose from a full range of
investments, including stocks, bonds and
mutual funds.
As always, speak to your tax advisor
for further details and benefits.
Today’s Investment Puzzle:
Is a Roth IRA Right For You?
Housing Affordability is Highest Since 1988
A new index by the National Asso-
ciation of Realtors shows that
many more people can afford to buy a
home today, more people, in fact, than
in more than the previous 20 years. It
recently set the affordability index at
158.8.
That means a household earning the
median family income of $61,058
would have 158.8 percent of the quali-
fying income to purchase the median-
priced existing single-family home
($174,700) with a 20 percent down
payment.
When buying that particular home,
after a 20 percent down payment, the
monthly payment on a 30-year mort-
gage at 5 percent interest would be
about $750 per month.
When buying a home for $100,000
with a 20 percent down payment, the
monthly payment on a 30-year mortgage
at 5 percent interest would be about
$430 a month.
Many homes in various parts of the
country could be purchased for $75,000.
With a 20 percent down payment, the
monthly payment on a 30-year mortgage
would be only $322.
Homes can often be purchased with a
down payment of less than 20 percent,
but the buyer would have to take mort-
gage insurance, which raises the amount
of the monthly payment.
Still, there hasn't been a better time to
buy a home in many years.
Dena Land News—Linda Lane-White • Keller Williams Realty (626) 786-1231 • www.lindalanewhite.com
Pasadena Market Center
445 S. Fair Oaks Avenue
Pasadena, CA 91105
Cell: (626) 786-1231
Home Office: (626) 798-2382
Fax: (626) 296-1979
Home Office: 519 Alameda, Altadena
I n T une Wit h Your Needs
If You Would Like To Receive This
Newsletter on a Regular Basis for
Guaranteed Delivery (Snail or E-Mail)
Call me or send me an E-Mail...LLW
Linda Lane-White “Singing” Realtor® CA Lic #01091347 (since 1990)
Notary Public (since 1987)
Each Office Is Independently Owned and Operated
www.lindalanewhite.com
Search the MLS on my web site!
1st Floor Commercial
(560 sf)
2nd Floor 1 BR/1BA
(560 sf)
2 car garage (400 sf)
Laundry Room (64 sf)
2,997 sf lot
Separate HVAC units
Dual pane laminate glass
Alarm System
Security Gates
Highlights
Mixed Use
Live/Work
Owner/User
Investment
Enterprise
Zone
Tax Credits
Hiring Credits
Zoned FGSP-CL-1B
Use Code: Retail/
Residential
1564-66 N. Fair Oaks Ave., Pasadena, CA City of Pasadena’s Ribbon Cutting Ceremony
Wednesday, April 8, 2009 3:30 to 4:30
(call (626) 786-1231 to RSVP for food)
For Sale (call for pricing) Completely renovated, vacant, free-standing building, great
street frontage, separate electric meters
Call (626) 786-1231 for more information
www.1564NFairOaks.com (Construction by Ceedub Construction)