Placer County Properties Homes For Sale

New California State Law Requires Carbon Monoxide Alarms In All Homes by July 1, 2011

Leilani_Souza — Mon, 04 Jul 2011 21:20:33 +0000

Per the Carbon Monoxide Poisoning Prevention Act of 2010 (Chapter 19, page 14 of Senate Bill No. 183), which was approved by the Governor on May 7, 2010:

All single-family homes that have a gas heater or appliance, fireplace or an attached garage must have a carbon monoxide (CO) alarm installed outside of sleeping areas and on every level of the home, including the basement.
Carbon monoxide alarms must be either battery-powered or plug-in with battery backup. Combination smoke and carbon monoxide alarms are also allowed.
New homes are required to meet the law by January 1, 2011. Existing single-family homes must comply by July 1, 2011. Any property owner found not in compliance shall receive a 30-day notice to correct before being assessed a maximum fine of $200 per offense.
Any home sold on or after July 1, 2011 shall include a disclosure (on the Real Estate Transfer Disclosure Statement) regarding carbon monoxide alarms and a statement specifying that installation of a listed device, appliance or amenity is not a precondition to sale or transfer.
An owner or owner’s agent of a home rented or leased to a tenant shall maintain the carbon monoxide alarms in the unit and may enter any dwelling unit for the purpose of installing, testing, repairing and maintaining carbon monoxide alarms.
A tenant shall be responsible for notifying the owner or owner’s agent if the carbon monoxide alarm becomes inoperable. The owner or owner’s agent shall correct any reported inoperabilities in the carbon monoxide alarm, but shall not be in violation when he or she has not received notice from the tenant about its inoperability.

~Click on the logos below to purchase carbon monoxide alarms online~

~Click on the image below for the updated Homeowner’s Combined Information Guides (PDF)~

Souza Realty in Placer County

Souza Realty specializes in Placer County, California real estate: foreclosures, trustee sales and Placer County lots & land. Bob and Leilani Souza are a husband & wife Placer County real estate team actively investing in real estate since 2001, flipping properties as well as holding them for rentals. The Souzas are also experienced in custom home development and are familiar with the entire home building process, from lot selection, floorplan design and permits to where to shop for the best deals on materials and supplies.

If you could benefit from our knowledge when it comes to investing in Roseville, Rocklin, Lincoln, Loomis and Granite Bay real estate or you’d like our guidance when it comes to buying a lot and building a home in Placer County, please contact us for a FREE consultation.

Bob Souza
Leilani Souza, CRS, e-PRO, TRC
Souza Realty (DRE #01262541)
925-513-3400 Bob
916-408-5500 Leilani
bob@souzarealty.com
leilani@souzarealty.com

Serving Southwest Placer County:
Roseville, Rocklin, Lincoln, Loomis, Granite Bay

How Can I Find FHA-Approved Condos In Roseville, Rocklin and Lincoln, CA? What Are The Requirements For FHA Approval?

Leilani_Souza — Mon, 04 Jul 2011 21:05:41 +0000

HUD (U.S. Department of Housing and Urban Development) offers an online search on their website to find FHA-approved condos. If you’re a REALTOR, this is an essential tool to assist in your FHA buyers‘ home search as well as any condo listings you may have.

SEARCH FOR FHA-APPROVED CONDOS

If the condominium you’re interested in purchasing cannot be found by doing this search, don’t despair just yet…your lender may apply for FHA approval by following the instructions on this PDF document entitled: Condominium Approval Process for Single Family Housing.

Some important requirements for FHA-approved condominium complexes include:

The condo complex must be covered by hazard and liability insurance (and if applicable, flood and fidelity insurance).
No more than 10% of the units may be owned by a single investor, including the developer who is holding units as rentals.
No more than 15% of the units may be 30+ days delinquent in HOA dues.
At least 50% of the units must be owner-occupied.

These are just a few of the most common reasons condos don’t qualify for FHA financing, but please read the PDF document Condominium Approval Process for Single Family Housing for a complete list of requirements.

Here are the results of my online search for FHA-Approved condos in Roseville, Rocklin and Lincoln, CA as of June 14, 2011:

LINCOLN

Paloma at Foskett Ranch (EXPIRED)
Sierra View at Lincoln Crossing (EXPIRED)

ROCKLIN

Club Pacific Condominiums
Montessa at Whitney Ranch
Hearthstone (REJECTED)
Vicara at Whitney Ranch (REJECTED)
Park Place Condominiums (WITHDRAWN)

ROSEVILLE

Campania
The Phoenician
Strada (EXPIRED)
Villemont (EXPIRED)

This information is updated daily, so be sure to check the status of a condominium before you write that offer with an FHA loan…or better yet, work with a REALTOR and/or lender who will do that for you!

Souza Realty in Placer County

Bob Souza
Leilani Souza, CRS, e-PRO, TRC
Souza Realty (DRE #01262541)
925-513-3400 Bob
916-408-5500 Leilani
bob@souzarealty.com
leilani@souzarealty.com

Serving Southwest Placer County: Roseville, Rocklin, Lincoln, Loomis, Granite Bay

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What Is The Difference Between Preforeclosure, Auction and Bank Owned Properties?

Leilani_Souza — Mon, 04 Jul 2011 16:25:29 +0000

When people visit our website SouzaRealty.com for a free foreclosure search, they have the option to search for foreclosures in three different categories within the foreclosure timeline:

Preforeclosure properties are those that have been issued a Notice of Default by the lender (“Beneficiary“). This is the first step the Beneficiary takes in the foreclosure process. After 3 months of missed mortgage payments, a Notice of Default may be filed with the County Recorder and mailed to the Borrower. Many properties in Preforeclosure are also listed as short sales and can be “active short” (available) or “active short contingent” (an offer has already been submitted to the bank).

Auction properties are those that have been issued a Notice of Trustee’s Sale with an auction date. The Notice of Trustee’s Sale is filed with the County Recorder, mailed to the Borrower as well as the Occupant, and also posted on the front door of the property. The auction date may be postponed due to Bankruptcy, Beneficiary’s Request, Mutual Agreement or even for No Reason. If it is not postponed, an Auction property will be sold to the highest bidder during the Trustee’s Sale. If no one bids, the property becomes Bank Owned.

Bank Owned properties are those that have reached the end of the foreclosure process and did not sell to a 3rd party at the Trustee’s Sale but have “sold” back to the bank. These properties are also known as REOs (REO = Real Estate Owned). They remain in “shadow inventory” until they are ready to be listed for sale by an REO listing agent. It could take anywhere from a couple of weeks to a couple of years (or more) for a Bank Owned property to be listed for sale on the MLS.

Souza Realty in Placer County

Bob Souza
Leilani Souza, CRS, e-PRO, TRC
Souza Realty (DRE #01262541)
925-513-3400 Bob
916-408-5500 Leilani
bob@souzarealty.com
leilani@souzarealty.com

Serving Southwest Placer County:
Roseville, Rocklin, Lincoln, Loomis, Granite Bay