First Home - California

Jueves, 2 de mayo de 2024 Fecha del episodio: jueves, 2 de mayo de 2024 Únanse al Departamento de Bienes Raíces (DRE) de California para conocer una historia real sobre estafa y fraude inmobiliarios, así como consejos para la protección del consumidor. En este episodio: Tratos deshonestos, les contamos un caso lleno de engaño y malas acciones premeditadas que ocurrió en el sur de California en un periodo de dos años. Justo cuando los posibles compradores de viviendas pensaron que sus depósitos de arras estaban en buenas manos y asegurarían la compra de una vivienda, comenzaron a darse cuenta de que algo no andaba bien. Nos acompaña una investigadora especial del Departamento de Bienes Raíces quien nos contará la historia de cómo una agente inmobiliaria estafó a más de cien compradores de viviendas confiados, compartirá información sobre las investigaciones del Departamento y consejos con respecto a cómo los consumidores se pueden proteger durante las transacciones inmobiliarias. Se cubrirán los siguientes temas: Nuestra invitada para este episodio: Veronica Kilpatrick, Gerente de distrito/Investigadora especial supervisora II de DRE - San Diego Se recomienda la discreción del oyente: Este episodio del pódcast incluye ejemplos reales y algunos términos específicos de un caso anterior de ejecución de bienes raíces que involucra fraude. Para leer el expediente completo del caso de ejecución, visite: https://tinyurl.com/4h2vepfj

Episode Date: Friday, April 12, 2024 Join us, the California Department of Real Estate, for a true story of real estate fraud and deception, along with consumer protection tips. In this episode, Dishonest Dealings, we take you through a case full of misrepresentation and calculated wrongdoings that took place in Southern California across two years. Just when prospective homebuyers thought their security earnest money deposits were in safe hands and would secure a purchase of a home – they began to realize something was not right . We sit down with a Department of Real Estate special investigator who will tell us the story of how one realtor defrauded more than one hundred unsuspecting homebuyers, share insight into the Department’s investigations, and provide tips on how consumers can protect themselves during real estate transactions. Topics covered include: Our guest for this episode: Veronica Kilpatrick, DRE District Manager/Supervising Special Investigator II - San Diego Listener Discretion Advised: This podcast episode includes real examples and some case-specific language of a past real estate enforcement case involving fraud. To read the full enforcement case file, visit: https://www2.dre.ca.gov/hearingfiles/H41332LA_200203_P.pdf.

In this episode we talk about how escrow works. When you’ve made a final offer on a home and reached an agreement with the seller, you start the escrow process in which a neutral third party manages funds and assets, and ensures all conditions of the sale are met before the property changes hands. Topics covered include: Our Guest:

In this episode we talk about how home appraisals work. In California, real estate appraisers are regulated by the Bureau of Real Estate Appraisers (BREA), and today we’re joined by BREA’s Bureau Chief Angela Jemmott. Topics covered include: • What an appraisal is, why it’s needed, and who pays for it • Whether homeowners can choose the appraiser • What an appraiser does during an appraisal • What an appraiser is looking for to determine a home’s value • What it means if a home is appraised for less than paid for • What a homeowner can do if they disagree with an appraisal • Whether a homeowner can pay for their own appraisal • How to get a real estate appraisers license • The different levels of appraisers and their differences • Common reasons consumers file complaints with BREA Our Guest: • Angela Jemmott, Chief of the Bureau of Real Estate Appraisers

In this episode we talk about what’s likely the most complex and most important part of the homebuying process. Topics covered include: Our Guest:

In this episode we talk about one of the most stressful and exciting parts of the homebuying process, making an offer on a home. Topics covered include: Our Guest: Other Resources Love Letters / Offer Letters https://www.nytimes.com/2021/12/17/realestate/you-love-that-house-but-should-you-write-a-love-letter.htmlhttps://www.ocregister.com/2021/03/11/do-homebuyer-love-letters-violate-fair-housing-laws/https://www.cbsnews.com/losangeles/news/no-more-love-letters-to-home-sellers-calif-realtors-advise/https://www.cnn.com/2021/05/19/homes/love-letters-from-home-buyers/index.htmlhttps://money.com/home-seller-love-letter/https://www.nar.realtor/fair-housing-corner/love-letters-or-liability-letters

There are a lot of professionals who are going to be involved in your home purchase. But, none is going to be more important to you than the one we talk about in Episode #105. This episode covers how to find a real estate agent. Topics covered include: Our Guests: Chika Sunquist, Department of Real Estate’s Assistant Commissioner overseeing Enforcement Mike Shenkman, Licensed Real Estate Agent and lecturer at Department of Urban Studies and Planning at U.C. San Diego Other Resources: Verify a Real Estate Agent’s License: https://www2.dre.ca.gov/PublicASP/pplinfo.asp DRE’s First Home – California Website: https://dre.ca.gov/FirstHomeCalifornia DRE Contact Center: (877) 373-4542 (Monday-Friday, 8:00 a.m. - 5:00 p.m.) California Association of Realtors: https://www.car.org

In Episode #104 we take a deep dive on all the assistance programs available to first-time homebuyers here in California. A representative from the California Housing Finance Agency (CalHFA) joins us. Topics covered include: CalHFA Down Payment Assistance Programs MyHome Assistance ProgramCalifornia Dream for All Shared Appreciation Loan Program Please note: On October 13, 2023, Eric Johnson from CalHFA released a video with the latest on the Dream For All shared appreciation loan program and address some of the misinformation that has been shared and posted about the program’s return. Watch the video at: https://www.youtube.com/watch?v=biT21WUCbII. CalHFA Government Loan Programs CalHFA FHA Loan ProgramCalPLUS FHA Loan ProgramCalHFA VA Loan ProgramCalHFA USDA Program CalHFA Conventional Loan Programs CalHFA Conventional Loan ProgramCalPLUS Conventional Loan Program Other CalHFA Programs Section 184 Indian Home Loan Guarantee ProgramLimited 203(K) OptionFree Housing Counseling Program Our Guest: Eric Johnson, California Housing Finance Agency (CalHFA) Other Resources: DRE Website: https://dre.ca.gov/FirstHomeCalifornia

Episode #103 gives you a close-up look at how down payments work. A National Association of Realtors survey in 2021 found that 29% of first-time homebuyers said the down payment was the most difficult step in the home buying process. Topics covered include: Guest: Mike Shenkman, Real Estate & Mortgage Expert, lecturer in the Urban Studies and Planning Department at University of California, San Diego. Other Resources: DRE Website: https://dre.ca.gov/FirstHomeCalifornia

We take a deep dive into home mortgages. This includes conventional, FHA and VA mortgages, as well as fixed-rate, adjustable-rate, and interest-only. We also discuss the difference between interest rate and annual percentage rate, pre-qualified and pre-approved, what's an amortization school, what's an impound account, how a mortgage buy down works, and what happens if your new home is appraised for less than the price you're paying. Plus, an overview of first-time homebuyer programs. More at: https://dre.ca.gov/FirstHomeCalifornia

There’s nothing more important when buying a home than money. This episode focuses on helping you figure out how much home you can afford, and how to be comfortable with what you’re going to spend for your first home. Our guest is Mike Shenkman, who has more than 20 years of experience in California's real estate industry. He's also a lecturer in the Urban Studies and Planning Department at UC San Diego. More at: https://dre.ca.gov/FirstHomeCalifornia

Whether you're a young professional looking to invest in your future, a couple ready to settle down and start a family, or someone starting a new chapter in your life, buying your first home is a significant milestone. It also can be an overwhelming and complex process. That's why the California Department of Real Estate has created this podcast.. to provide you with knowledge and insights, so that you know what to expect during the homebuying process, and can make informed decisions.