Glenn's Blog
September 19th, 2011 by Glenn Ritchie
I have been working with this couple the past weeks and found a little cheap fixer-upper property. I’ve had a lot of experience with old homes as mine was built in 1912. It was one of the original orange grove pickers homes here in the Fullerton, OC, California. So yes, I have had that knowledge of doing it up over the years with lots of hard work, love and expense. This lovely couple insists they want this type of house and at $299k (approved) it’s low for what normally sells in this area. Fullerton average price in this neighborhood is around $425k. I asked them before we make an offer do you have any family to help you in the fixer-upper venture, they said no. Next I suggested obtaining a professional to give you an idea what you are heading into before you go the full gamut. They are aware that because it’s a REO the bank will not do anything except when it comes to some health issues. But still they insist to go ahead and place an offer. I’m fully aware that buying this crummy fixer in a good neighborhood is good thing for the long haul.
I was happy that they took my advice and engaged a well respected contractor to give them an idea of what it would cost to as least bring this nice little house up to living condition. The end result was that the house was full of sub & drywood termites, sub floor has wood rot, roof has three layers, only a 35Amp panel and the foundation is not stable. Apparently over the years with earthquakes etc the house has moved off the foundations.
The bottom line I was pleased we walked away from this quaint house in Fullerton and now ready to move on to something else that is more cost effective for my clients. I really believe it’s worth to pursue the right house so it’s not too much of a burden my clients as it rewards you in the end. But how far does one go to inform my young clients that this needs deep pockets to completely do this home up before you can enjoy even living in it.? There is always a reason why it’s this low price. Check out my blog for other helpful hints for home buying.
Tags: Fixer Home, Fixer Properties, Fullerton Homes
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September 17th, 2011 by Glenn Ritchie
Freddie offers new loan mod option
Freddie Mac is replacing its Debt Coverage Ratio program with a new option, called a Standard Modification. The program is designed to assist borrowers who are ineligible for a Home Affordable Modification Program (HAMP) loan modification or have previously defaulted on a HAMP or other loan mod. For those who are approved, the program reduces a borrower’s mortgage principle and monthly payment by at least 10 percent each, thereby making the payments more affordable.
To qualify, homeowners must be at least 60 days past due on their mortgage. Those who are not at least 60 days past due can qualify by proving they are in imminent danger of default, through demonstrating an eligible hardship and providing verification of income.
Mortgages that are modified will have their interest rates set to 5 percent and the amortization period (time required to pay off the mortgage) extended to 40 years from the time of the modification. Lenders approving such modification will receive cash incentives of up to $1,600 per homeowner approved.
Borrowers approved for the program must undergo a three-month trial period during which they must keep up with their new payment schedule before the loan modification is finalized and made permanent, similar to HAMP. Lenders will have incentives to encourage them to finalize borrower’s status within two months of the end of the trial period.
Lenders may begin trial modifications for approved homeowners under the program as early as Oct. 1, 2011. As of Jan. 1, 2011, all borrowers seeking a loan modification of any type on a Freddie Mac-supported mortgage must be evaluated for eligibility under the program. Contact Glenn or email him at Glenn@GlennRitchie.com for additional info on this and other programs.
Tags: Home Help on Loans, Loan Mod Options, New Loan Options
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September 8th, 2011 by Glenn Ritchie
Yes, 
we have a vineyard in Fullerton. I don’t want to say where it is in fear of thirsty people coming at night picking the grapes to make their own wine. These Fullerton residents have several varieties of red and white. One vari
ety which I believe is the Chardonnay grape is easy to grow and powerful nose if produced correctly. There are three rows of approximately forty vines in all. The vines live on a slightly graded hillside with soil that is rich, some limestone, sandy with good drainage making it ideal for this area. The owners trimmed the vines back just like the pros so as to get the quality and not just quantity. The vines all face east and even have a special motion detector owl to keep watch on those little animals who want to eat them for a midnight snack.
Wine has a rich history dating back thousands of years, with the earliest known production occurring around 8,000 years ago on the territory of modern-day Georgia It first appeared in the Balkins at about 4500 BC and was very common in ancient Greece.
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August 17th, 2011 by Glenn Ritchie
I have to pass on my thoughts on this impressive bottle of Rhone Rose wine from “Chateau De Nages” in the Rhone valley France. It’s not your usual White Zinfandel that is so sweet at 8% alcohol and tastes like candy. This is a blend of the Grenache 70% and Syrah 30% to make a great wine to sip through the summer. Chateau De Nages has several Reserve wines to choose from, some darker and yes more expensive. But for this 2010 Reserve Rose from Total Wine just under $9 a bottle you can enjoy the good value. This classic Rhone Rose has a seductive fushia color announcing an effusively aromatic w
Rose Rhone Wine
ine.The nose is like a basket of ripe berries. At 13.5% alcohol, rich and lush without residual sugar, it will be a perfect fit for those summer nights. Enjoy it with pasta, salads, grilled fish or even cold meat cuts.
For those who prefer White wine because the Red wine is too dry or heavy, give this one a try, you won’t be disappointed.
Tags: Glenn on Wine, Glenn's Summer Wines, Wine to try
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August 17th, 2011 by Glenn Ritchie
Fullerton, California “Down Payment Assistance Program” called CHDAP. The CHDAP is a 3% silent 2nd TD that helps first time home buyers to reduce or eliminate closing costs. “Silent” means there is no monthly payment on the CHDAP loan. This loan will get paid off when the home owner sells or refinances the loan. Here’s an example of how this CHDAP can be used. Buyer wants an FHA loan with a 3% down payment. Buyer has enough funds for the down payment, but not enough to cover all the closing costs. We all know it is tough enough just getting an FHA offer accepted, much less an FHA offer asking for a Seller credit for closing costs. We use a regular FHA 30 year fixed rate loan combine it with a CHDAP silent 2nd TD. Buyer only has to have the 3.5% down payment (savings or gift funds) since there is no reserve requirement with an FHA loan. I have a link for the most current county income limits.
Call or email Glenn for additional information on this great loan…it couldn’t be more simpler.
Tags: Assistance Loan, Cover Closing Costs, Guide to Home Buying, Loan Program for the OC, Real Estate in Fullerton
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August 16th, 2011 by Glenn Ritchie
If the US Government was a family in say Fullerton, they would be making about $58,000 a year, spending $75,000 a year and are approximately $327,000 in credit debt. To solve the problem over time they are proposing BIG spending cuts to reduce their spending to just $72,000 a year. These are actual proportions of the federal budget and debt reduced to a level that anyone can understand. These are the figures that really put ones head into perspective the tough financial shape the US is in. One can’t condem the S&P reason for downgrading the big U.. S of A. Perhaps this applies to most of us that we went overboard years ago and now it’s haunting our financial system of what to implement first.
Tags: US Gov Debt
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August 12th, 2011 by Glenn Ritchie
Dog Night last Thursday evening at the Downtown Fullerton
Best vegie stall
market was another success. Yes, there were lots of dogs in all shapes and sizes with no cats to be seen anywhere. Every year at the Fullerton Downtown market on crn of Harbor & Wilshire Blvd we have dog night. No live band playing music to the crowd this night, but plenty of dogs and their owners showing off their best talents on stage. The proud owners sign up for the various segments of the contest that their love ones will perform. Sort of a sloppy affair really seeing a dog kissing the owners all over to see if they won the kissing phase. Then there’s the look alike there owners…well that wasn’t hard to figure out with some of them. Then there was the fastest eater, another easy one to figure that out… because of the size of the dog. See some of the attached pics I took during the evening. The biggest dog we saw of the night was the great dane, he was huge and the owner told me he weighed 158 lbs. When I think of the cost of keeping and feeding this size dog I felt bad as that could have fed about 25 Somalians because they are starving and don’t have anything. The Museum beer garden was packed as all those patrons
Patrons at the Beer Garden
care about is a nice cold beer on a warm day and agree. We have had a successful run with a Real Estate booth at the market for the past three years helping people meet their dreams. Some of the food vendors including “Jamie’s Farms”and the “Dry Dock” said to me that it was one of their best nights ever for sales. Perhaps we should have the “Dog Day Evening“at the Fullerton market more often!! Cheers for now Glenn
Tags: Dog Day Evening in Fullerton, Fullerton Farmers Market, Real Estate in Fullerton
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July 25th, 2011 by Glenn Ritchie
What a fantastic night this nice summers evening in July listening to ”HELP” (Beatles Tribute Band) a great group to re-live my days of the Beatles. Under the clear sky’s of Fullerton we all stepped to the beat to several Beatles tunes for several hours. They played not only some “Help” numbers but tons of other tunes from “Sgt Pepper’s”, “Rubber Soul”, “Please Please Me” and so on. The four members were really great especially the band member that sounded just like John Lennon. You would swear that he was on the stage he was that good. We packed a picnic dinner sat on our low chairs and rocked away, but not forgetting the “Frati Gelato” afterwards only a few feet away.
Beatles Tribute Band
Growing up in the land down under in the early sixties I remember the first LP I bought was the “Please Please Me” album with Mono tag on the side. In Australia it was the album cover with a shot of the four Beatles leaning over a balcony. This music will never die and I was impressed that even the younger set got into the music as well dancing on the grass nearby. I think every generation knows the group the “Beatles” along with their first names, John, Paul, George and not forgetting Ringo. Check out my web site for further happenings in and around Fullerton.
Tags: Concerts in Fullerton, Concerts in the park
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July 25th, 2011 by Glenn Ritchie
Hello Kauai, If you dreaming of a vacation that lets you wind down, or slow down to a snails pace that you will never forget, well consider Kauai. So what if it rains more on this Island that here in So Cal, it’s only 650 inches a year…just have another Mai Tai or an Ice Tea. The North side of the Island near Hanalei Bay is the most lush than the South. If you like more action, more people and those typical tourists places well consider the Poipu 
area with a lot less rain. But if you up to just lazing around and taking on a few sites, this area is for you. Up at the North side near Hanalei the rain can come down pretty hard but it has rewards. Just sit back on that balcony chair and catch those 1000′ waterfalls pouring down from the the cliffs above. It’s a sight to be seen. The North side of this Island is so lush that you can just drive around and see photo ops at every corner. Hanalai is small with nice places to eat along with pleasant music if you wish. One of the best tours we took was a combo kayak and nature walking tour, not too much of any one thing. We walked through the heavy forest past several wild pig trails and ended up at the most wondering water fall where we all enjoyed a prepared lunch and a swim. The Hawaiian guide informed us of the native plants that the locals would eat and what type of foliage they would use for shelter. Another interesting tour which includes dinner at sunset is the Botanical Gardens tour down south. We visited the beautiful gardens that was the home of a wealthy banker from Chicago who had many guests over the old years su
ch as Richard Nixon, Jacki Kennedy just to name a few. The original owner had an interest in these gardens and maintained them for years until his death. Today the house on the beach and the botanical gardens survive because of trust monies from the estate, guided tours and donations. 
Kauai is a must see as far as I am concerned, it’s beautiful.
Tags: Kauai the Beautiful, Photographers Mecca, Travel to Kauai
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July 12th, 2011 by Glenn Ritchie
Vacations always come to an end. So after checking in our baggage going through security we were ready to come home to Fullerton California. Our flight took us from Kauai through SFO to LAX. We waited for the #2 carousel to spit out our bags, collected them and noticed my approved TSA locks were not on the two bags. This is not the first time these approved TSA locks were missing. When we arrived back from Australia in 2010 one of them was missing. I was under the impression that if an TSA officer or customs agent opens a 
bag for security reasons they should leave a note to that effect. I was tempted to go on EBay to see if one can buy used TSA locks. But I would like to think that they were just a little slack, forgot to replace it and with the note.
Tags: Luggage Locks, Travel today, TSA approved Locks for Baggage
Posted in General, Travel | 2 Comments »
I have been working with this couple the past weeks and found a little cheap fixer-upper property. I’ve had a lot of experience with old homes as mine was built in 1912. It was one of the original orange grove pickers homes here in the Fullerton, OC, California. So yes, I have had that knowledge of doing it up over the years with lots of hard work, love and expense. This lovely couple insists they want this type of house and at $299k (approved) it’s low for what normally sells in this area. Fullerton average price in this neighborhood is around $425k. I asked them before we make an offer do you have any family to help you in the fixer-upper venture, they said no. Next I suggested obtaining a professional to give you an idea what you are heading into before you go the full gamut. They are aware that because it’s a REO the bank will not do anything except when it comes to some health issues. But still they insist to go ahead and place an offer. I’m fully aware that buying this crummy fixer in a good neighborhood is good thing for the long haul.
