Giant Home for the Klock Family!

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One of our recent bank-owned homes in Lake Elsinore was located directly across the street from the house the Klock family was renting. Their rental house was a very small, cramped two-bedroom and it wasn't an ideal situation at all.

When they discovered the large 4 bedroom home with double the square footage was up for sale, they called us to see if it were possible for them to buy it. They didn't think it was realistic that they could qualify for a loan, but they at least wanted to try.

Long story short: we worked hard to get them qualified for an FHA loan with only 3% down payment and was able to get them qualified using their parents as "non-occupant co-buyers."

They were surprised we were able to make it work and very grateful. Tara's my new best friend and never missed an opportunity to show me her seven Special Olympic Gold Medals.

Congratulations to the Klock family! It's very gratifying for us to have been a part of making it happen for you all.

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DREAM HOME FOR FIRST TIME BUYERS CHARMAINE AND SAMY!

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First time home buyers throughout the Temecula Valley are pinching themselves over the incredible affordability of homes in the area.

Charmaine Tauanuu and Samy Tadrousse are no exception. For the last few years they thought they were locked out of the housing market for good; forever destined to rent as long as they lived in Southern California.

We had the pleasure of helping Charmaine and Samy make their very first home purchase their absolute dream home.

In the beautiful Tuscany Hills area of Lake Elsinore, Charmaine and Samy purchased a like new home on a cul-de-sac with a pool and the most incredible views of the mountains and Canyon Lake.

Congratulations Charmaine and Samy! We really enjoyed getting to know you and working with you.

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Horrible Mortgage Vanishes ... Great Mortgage Takes It's Place

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The mortgage and real estate industry is much more difficult than it was a couple years ago. Most of the people I've known for years in the business are now gone.

All of the 'EASY' loan programs are now gone; underwriting guidelines are much more strict; stated income loans are extremely difficult to qualify for.

But one of the gratifying aspects of the industry that remains is when we're able to fix the past abuses of dirt-bag lenders and real estate agents and save innocent homeowners.

Patrick Paster's Mom, Barbara was in a horrible subprime loan with a balloon payment coming due on January 1, 2009. Barbara is disabled and was really taken advantage of by the loan officer for a bank that will remain nameless.

With some difficulty, we were able to get Barbara out of the crummy loan and into an FHA 30-year fixed rate loan with a much lower interest rate.

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One of the Best Gifts Ever ... San Diego Charger "Powder Blue" Jersey!

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We just closed escrow for my clients Bill Gibbs and his fiancee Diana Babb. Bill is the Senior Field Manager for Qualcomm Stadium. The field you see on television the Chargers are playing on is his handiwork.

We had to practically go 'bare-knuckle-brawling' to get an incompetent escrow company to get his loan funded and recorded by Friday so he could move-in over the weekend.

To show his gratitude, Bill gave me this awesome San Diego Charger 'Powder-Blue' jersey. It truly is just what I've always wanted but have been to cheap to buy myself!

And Diana gave Melanie a beautiful scarf she made herself!

The house they bought is incredible. Three-story with it's own wine cellar. Very cool, very unique European Architecture style property.

Bill and Diana are the nicest people and I loved working with them.

Welcome to Temecula! You're gonna love it here!

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I Hereby Declare Today ... CHARLIE KIMBLE DAY!

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My clients Charlie & Maria Kimble are THE BEST!

With all humility, we did a pretty awesome job on Charlie and Maria's recent home purchase. Worked through a few challenges and got him a great deal on a beautiful bank-owned property in Murrieta.

How great? $67 per square foot! To put that in perspective, if you owned the lot free and clear, it would cost about $130-140 per square foot to build the same house. That's about 50 cents on the dollar or 50% below replacement cost.

The lesson to be learned: We are living in a historic period. Unfortunately, there are both winners and losers in the current economy. But make no mistake about it, there may never be a better time in history to purchase real estate than right now.

Anywho, back to Charlie and Maria. Charlie works for Pala Casino and he was so happy with the the job we did, he hooked us up with Pala's Human Resource Department and now we're providing the same kind of great service to Pala's many employees.

So far, they include: Patrick Pastor, Lucy Grant, Charmaine and Sammy Tauanuu and several more folks we're just now starting to work with.

My flash didn't work when we snapped the photo, but left to right:
Melanie Davis (our Transaction Coordinator), Charlie Kimble, me and Jon Sheehan.

MANY MANY THANKS TO CHARLIE AND MARIA!


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Tom & Robbie Long, Congratulations!

Just delivered the keys this morning to Robbie Long and her son Alexander. She and her husband Tom closed escrow yesterday on a terrific 3 bedroom 2 bath property in Temecula.

Congratulations Tom, Robbie & Alexander and welcome to Temecula!

Financial Bail-Out

I've received several calls over the last two weeks about the economic crisis and what I think about it.

Where do I start? First, I'm so disgusted with it all, I don't want to think about it at all. The picture above represents my opinion of the vast majority of our politicians in Washington (and Sacramento, too, for that matter).

As a tax payer, I'm against it. But since my crystal ball broke long ago, I don't know what will happen if it were not passed. Some say another Great Depression. Others say America will find a way to muddle through and be o.k.

I personally believe it can be done without the massive $700 Billion bail-out. Simply increase the FDIC deposit insurance to protect bank depositors but let fail the banks that are meant to fail.

For spurring the economy, that's an easy one. Simply cut the capital gains taxes to zero and entreprenurial money (the smartest money) will naturally find it's way to the most productive and profitable investment and business-building activities available.

And that will create economic growth without the politicians and beaurocrats pulling the strings (which only creates more corruption and waste).

But the politicians are NOT going to do that because it would take power and $$$$$ away from them and put it in the hands of the American people. Of course they're not going to do THAT!

After all, has government (at any level) ever proven it can run anything better than private enterprise (think Amtrak)?

In the end, any version of bail-out that passes will only delay the inevitable: the government will continue to print money, pile-up debt for future generations that can never be repaid and eventually our currency will be destroyed.

How's that for a rosy scenario?! So now that we all feel better about things, back to work:)

New Charger Cap from Bill Gibbs!

I'm just noticing that almost all my recent posts have something to do with football.

Maybe that says something about where my head is. Hmmm, perhaps it's also something I should be concerned about:)

Anywho, I'm with my clients Bill Gibbs & Diana Babb (soon to be "Mrs." ). Bill just gave Diana the engagement ring Saturday.

But he also gave me a very nice gift, too: The very cool San Diego Charger Cap I'm wearing in the picture.

Bill is the Senior Field Manager for Qualcomm Stadium. So if you watched the Chargers dismantle the Jets on Monday night football last night, the perfectly painted and manicured field they were playing on is the handiwork of none other than Mr. Bill Gibbs (ok, and the guys who work for him, too).

Bill and Diana are moving to Temecula. We just made an offer on a beautiful property off of Butterfield Stage so we're keeping our fingers crossed while waiting for an answer.

Offer Accepted! Nice Compliment from Robbie Long!

Got an offer accepted last Wednesday on a nice property on Corte Salinas in Temecula for the Long family.

Tom & his wife Roberta "Robbie" Long are professors at Cal State San Bernardino. They decided that our beautiful slice of Southern California called "Temecula" was THE place they wanted to settle down in and raise their growing family.

Robbie sent me a nice email ...

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From: Roberta Maxwell-Long
Sent: Wednesday, September 17, 2008 3:16 PM
To: Ken Hall

Subject: Thank You!

Hi Ken,

Thanks so much! You are the real estate Guru!

I would have never imagined they would go so low. Tom will fax you bank statements along with signed documents. Also he will get check to you asap. Need anything else just give us a call.

-Robbie

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Austin & Logan Play Football for the Chargers!

My two youngest sons play flag football for the Boys & Girls Club. Their team name is the "Chargers" which is a very big deal for them since they're big San Diego Charger fans.

Here's Austin & Logan before the big game and Austin (Quarterback!) jumping up in celebration after throwing a touchdown pass. Chargers win 38-6!

Good Bye & Good Luck, Eric Parker

My client and friend Eric Parker of the San Diego Chargers was released by the team yesterday after 6 years of being the Chargers' most productive wide receiver.

Even though Parker missed the entire 2007 season, his 170 receptions since 2003 rank third on the team behind Antonio Gates and LaDainian Tomlinson. Teammates consistently ranked him as the team's hardest worker.

But his high salary, a toe injury that kept him out all of last season and might hamper him further, and the Chargers' abundance of receivers conspired to bring his six-year career in San Diego to a close yesterday.

Back in 2004, I helped Eric and his wife, Nadia, fix their credit and got them into a property in San Diego.

Eric is a real nice, down-to-earth person. He was very grateful for what I was able to do for him and referred a lot of clients to me over the years since.

I'm sure he'll land with another NFL team and continue his career for a few more years.

Are you a football fan? ... Then you'll appreciate this

Having lunch at Soup Plantation last Friday when one of the greatest running backs to ever play the game sits down two tables away from us.

I said, "That's Terrell Davis."

My mother-in-law, Stephanie, says, "Who's Terrell Davis?"

Jen and the boys knew because we're ... shall we say ... a bit fanatical about our football in the Hall household.

I went on to explain to Steph that Terrell Davis:

* Is one of only 4 running backs to rush for over 2,000 yards in a season

* 2 Superbowl Rings with the Denver Broncos

* NFL league MVP

* Superbowl MVP

Unfortunately, he had to retire after 8 years because of a knee injury (same one I just had surgery for).

Me, Dillon, Austin and Logan walked over and asked for his autograph. Very nice guy and we chatted for several minutes. He makes his home in Murrieta.

I just received an email from my client, Jim Wentworth and I'm copy/pasting below along with a photo of Jim and I.

We just closed on Jim's purchase June 3, 2008. What he had to say was ... well, downright touching. I am very humbled by and appreciative of Jim's comments. It's a pleasure to have clients like Jim.

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To: Ken Hall
Coldwell Banker
Platinum Properties

From; Jim Wentworth June 14, 2008
29161 Promenade Road
Menifee, Ca. 92584

I want to take this opportunity to write a “thank you” for a “Job well done”. I had given up hope on finding a home period, and then to meet you and to find a home in the Murrieta/Menifee area was a blessing. I want to summaries the experience the best I can so you know how much I appreciate having you as my realtor and friend.

As you know I have owned homes before, but due to a divorce and a few bad stock investments I figured I would rent for many years or forever due to my age. Then the market took a turn for the worst for most investors. A friend told me about the housing market in the Riverside county and how you could buy a home for under three hundred thousand. I did not believe it, so I went on line and hooked up with some realtors. I was so excited to think that I may have a chance to purchase a home again.

As you know I was well qualified to purchase a home. Ten years on the job, a 750 credit score, ten to twenty percent down, no property to sell, never a bankruptcy, and so on. I was ready to buy the home that I thought I would never own again.

I worked with realtors for over three months making multiply offers on homes that I thought would be my dream home. After multiply offers, two short sale escrows and no response from all of my effort I became very depressed that my expectations of owning a home again was slipping away. The realtors keep saying that I had to keep making offers, but I told them that “if we keep doing what we have been doing, that we will get the same result”.

Then I decided to go out on my own, and that Saturday afternoon I meet you at the house on Promenade. Right off the bat I knew I finally meet the right realtor. You explained to me what a great relationship you had with asset managers of banked owned properties and that you could make this deal happen. Well, with my past experience I was a little skeptical, but within a week we were in escrow and I was actually buying a home again. The very first home I made an offer on with you Ken, the offer was accepted and every thing else is history. I found out what all of the other realtors were missing once I meet you, and that was your aggressiveness, your contacts, and professionalism.

Ken, sorry for the long letter, but I want to thank you for the opportunity to own a home again, not to mention a five bedroom, three full baths, on a golf course, and in like new condition. You walked me through the process with professionalism, you keep your word on every aspect of the sale, you and your office were there when I needed them, and I could not be happier with the experience.

Thanks Ken,

Jim Wentworth
Retail Customer Manager

Kraft Foods USA

Temecula Valley Economic Forecast

The Temecula Valley Chamber of Commerce hosted an economic forecast last Thursday at Pechanga. The presentation was given by John Husing, PHD (http://www.johnhusing.com/).

I was really, really looking forward to attending this event, but unfortunately, my knee surgery was scheduled for that same morning. My partner, Jon Sheehan and our assistant, Melanie Davis, did attend. The photo is Jon and Melanie with Professor Husing in the middle.

If you would like a copy of our notes and hand-outs, email me at Ken.Hall@socalfunding.com and I'll email you a PDF.

In a nutshell, Dr. Husing said the next 18 months are going to bad for the Temecula Valley area. Continued home foreclosures and a net loss of jobs for the first time in over 40 years.

The good news: when the foreclosures are gone and the real estate market begins coming back, the Temecula Valley will boom like never before. The upside potential for the Temecula Valley is far greater than San Diego and Orange Counties.

Austin's Black Belt Prep Test

My middle son, Austin, tested for his "Black Belt Prep" promotion last Friday ... and passed! All three of my boys have been training for about three years at Sunridge Karate http://www.sunridgekarate.com/.

Sunridge is an awesome Christian-based martial arts school in Temecula. Their curriculum is first and foremost Christ-based. Martial arts, second. That doesn't mean they're not a legitimate martial arts school, though. Just the opposite, in my opinion.

The training is rigorous and they're not "selling" black belts in 12 months like so many of today's martial arts schools are doing. At Sunridge, you can't test for a black belt until you turn 16. That's the way it used to be with most martial arts schools and certainly the way it should be.

If you're looking for a great way to build your kid's character and confidence, I can't think of a better way than Sunridge Karate.

Knee Surgery!

Here I am, before and after knee surgery pics.

On Thursday, June 26th I had ACL Reconstruction and Meniscus surgery on my left knee. Trust me when I say it is NOT pleasant at all.

In the pre-surgery pic (where I'm wearing the stylish hair net), they had just given me my "happy shot" so I'm feelin' no pain. In the after-surgery pic, it's the same afternoon after coming home. I was still really loopy and don't remember anything from the rest of the day.

The good thing is, they don't "zipper-cut" the knee like they used to. It's all done arthroscopically with 3 small incisions and 1 bigger incision. For the ACL, Dr. Reiman removed 2 of my 5 hamstring tendons and used them to rebuild my new ACL. For the Meniscus, he just cuts-out the loose, torn part.

I have to wear the big brace for 2 solid months! The first month I have to keep it locked, straight-out. The second month I can unlock it so I can bend my knee. Can't do any kind of activity that requires twising or pivoting for 6 months because it takes that long for the new ACL graph to regenerate. So no, not really looking forward to the next few weeks!

But, hey, what's done is done, right? Only thing to do is grin and bear it.

My nephew, Ed Baldwin

This is me, Jen and boys along with my nephew, Ed Baldwin. Ed is the worship director for his church in Montgomery, Alabama, and was out here for a convention in Lake Forest. If you're thinking Ed looks a bit old to be my nephew, you're right. I was only five years old when he was born! His Mom (and my oldest sister) is 16 years older than me (yep, I was a mistake:)

Hey, I'm back!

O.K., my posting frequency has been very, very poor, I admit. Everyone keeps saying, "Hey, I clicked on your blog but you haven't posted anything in months."

Well, it's certainly not because I haven't had anything interesting to say, that's for sure. Lot's and lot's going on in my life and the real estate and mortgage industry. Just not enough hours in the day.

So, I'm turning over a new leaf and vow to post at least weekly from now on.

First of all, the photo is of my youngest son, Logan and I on Logan's kindergarten graduation from Rancho Community Christian School. You can tell he's a sweet boy, huh?! Just like Daddy:)

That black thingamajig you see on my left knee represents a painful story. I finally decided to get serious and lose weight and get in shape. Less than one month into my fitness routine I tore my ACL and Meniscus in my left knee. Surgery next Thursday.

Lesson: When you're 44 and not physically fit, don't try to do things the way you did when you were 24!