Patty McMillen

Say goodbye to the lowest mortgage rates in about 50 years!  For the past 16 months the Federal Reserve has helped keep rates low-around 5% for a 30 year loan but purchasing mortgage backed securities.  But that program is scheduled to end on June 1 and private investors aren’t expected to step in to fill the void at the same low rates.  As a result, the consensus amount economists is that the rates will climb to between 5.3% and 6% by the end of the year.  It will be a gradual rise, if this happens the Fed will get back into the market.  Jumbo mortgages are expected to hold steady at about 6% or so and that is because the government wasn’t propping up the jumbo market, so these loans won’t be affected much by the Fed’s exit.  The upper end housing in the Mendocino County area is still just sitting there…housing over 500,000 are just not moving.

For a while last year it might have seemed as if the long-awaited housing recovery was just about here.  Home prices stopped falling in spring and have stayed fairly stable since, according to the housing index.  Sales rose from their recessionary lows and inventories came down from their highs.  But this pickup turned out to be a short-lived scene.  Sales of existing homes dropped sharply in January from the previous month, and inventories crept back up.  The economists predict that the national median price for homes will dip another 5% before finally bottoming by year-end 2011.    More than 3 million homes are expected to get foreclosure notices this year, as job losses increase.  We can continue to hear these results thru the news and various opinions but I feel that we are starting to make turns for the better.  More sellers are seeing an small increase over the last couple of years and less inventory always helps.  The foreclosures are still hitting the market daily so until these stop we are going to see marginal progress.

The taxpayer must receive a Certificate of Allocation from the State to claim the tax credit on their California personal income tax return.  The Certificate of Allocation will state the maximum amount the taxpayer can claim listed by tax year.  The taxpayer should refer to the 2010 New Home/First Time Buyer Credit publication for instructions on claiming the tax credit.  Special rules apply to married/RDP taxpayers filing separately, in which case each spouse?RDP is entitled to one half of the tax credit, even if their ownership percentages are NOT equal.  For 2 or more taxpayers who are not married/RDP, the tax credit amount will have already been allocated to each taxpayer occupying the residence on their tax credit allocation letter.

The Alquist-Priolo Earthquake Fault Zoning Act prohibits building for human occupancy astride active faults. Sellers of existing residences MUST disclose to a potential buyer that the property is located in a designated fault zone.  Homeowners don’t know what the legal laws are on Earthquake reporting, this is why it’s important to hire a real estate professional.  We keep abreast on all new laws and regulations being required to sell a home.  If you don’t disclose that a home is in a earthquake fault you might be liable to buy this home back from the buyer if something happens.

All water heaters are required by law to be anchored or strapped to resist falling during an earthquake.  A seller must certify to a prospective buyer that the home’s water heater is braced.  You can NOT just strap with plumbers tape.  It must be braced to a stud, otherwise it will just come loose from the sheet rock.  I see homeowners do this all the time and this is a lawsuit waiting to happen.  You can buy the kits at all hardware stores with directions.  Caution Homeowners, do this correctly!

April 15th..mark your calendar!  Join your girlfriends for “Girls Night Out”in downtown Ukiah.  We meet for a drink at Patrona’s then do a little shopping and lots of socializing.  It’s a great break and a nice treat to hang out with friends you haven’t seen in awhile.

Mendocino County invites you to attend the 3rd Annual Spaghetti Dinner to benefit the shelter and county’s homeless pets.

When: Saturday, April l7,   5:30 to 8:30 pm

Where: Barra of Mendocino Winery, Redwood Valley

Cost: In advance $15 adults, $10 seniors & students

Advance tickets can be purchased thru HSIMC @ 9700 Uva Drive, Redwood Valley, Ca  95482

l.  Mortgage insurance premium (MIP) will be increased.

•     First Step will be to raise the up-front MIP to 2.25%

2.  Update the combination of FICO scores and down payment for new borrowers

• New borrowers will now be required to have a minimum FICO score of 580 for FHA’s 3.5% down payment program.  New borrowers with less than a 580 score will be required to put down at least 10%.

3.  Seller concession will be limited from 6% to 3%.

I was so please to learn that Realty World Selzer Realty is an underwriter for the play Godspell which starts May 7th at the Ukiah Players Theatre on Low Gap Road. The Ukiah Players Theatre does an amazing job casting, selecting and producing wonderful play’s in Mendocino County. I cannot wait to watch this play in May and encourage you to do the same!

What is Godspell: Based on the Gospel according to St. Matthew, GODSPELL is one of the most successful musicals in history. It present a whimsical view of Jesus, who is dressed like a clown with a red nose, a red heart painted on his forehead, and a Superman shirt. His followers and disciples re-enact parables and scenes from Jesus’ life with great energy.

The rock musical was an immediate hit when it opened in the spring of 1971 at an off-Broadway theatre. Ticket sales were brisk for three years. Between 1971 and 1973, productions opened in Los Angeles, London, Paris, Washington, D.C., Toronto, San Francisco, Melbourne, Sydney, Hamburg, and Berlin. several songs from the show, including Day by Day, became chart hits. The show — written by then – college student John-Michael Tebelak and Stephen Schwartz of Pippin, and more recently Pocahontas, and Prince of Egypt, fame — went on to win rave reviews and a Grammy Award for Best Score.

Godspell is a two act contemporary show with a small cast, generally 5 men and 5 women, and a small orchestra: Piano, Guitar, Bass, Drums and requires minimal scenery, lighting and sound. The music is easy to learn and sing and costuming is basically from one’s closet. It is ideal for schools, churches, small production facilities, and those on a limited budget. It is well suited for general audiences.

Come enjoy another wonderful Ukiah Players Theatre Porduction.

The history of April Fool’s Day or All Fool’s Day is uncertain, but the current thinking is that it began around 1582 in France with the reform of the calendar under Charles IX. The Gregorian Calendar was introduced, and New Year’s Day was moved from March 25 – April 1 (new year’s week) to January 1.

Communication traveled slowly in those days and some people were only informed of the change several years later. Still others, who were more rebellious refused to acknowledge the change and continued to celebrate on the last day of the former celebration, April 1.

These people were labeled “fools” by the general populace, were subject to ridicule and sent on “fool errands,” sent invitations to nonexistent parties and had other practical jokes played upon them. The butts of these pranks became known as a “poisson d’avril” or “April fish” because a young naive fish is easily caught. In addition, one common practice was to hook a paper fish on the back of someone as a joke.

This harassment evolved over time and a custom of prank-playing continue on the first day of April. This tradition eventually spread elsewhere like to Britain and Scotland in the 18th century and was introduced to the American colonies by the English and the French. Because of this spread to other countries, April Fool’s Day has taken on an international flavor with each country celebrating the holiday in its own way.

In Scotland, for instance, April Fool’s Day is devoted to spoofs involving the buttocks and as such is called Taily Day. The butts of these jokes are known as April ‘Gowk’, another name for cuckoo bird. The origins of the “Kick Me” sign can be traced back to the Scottish observance.

In England, jokes are played only in the morning. Fools are called ‘gobs’ or ‘gobby’ and the victim of a joke is called a ‘noodle.’ It was considered back luck to play a practical joke on someone after noon.

In Rome, the holiday is known as Festival of Hilaria, celebrating the resurrection of the god Attis, is on March 25 and is also referred to as “Roman Laughing Day.”

In Portugal, April Fool’s Day falls on the Sunday and Monday before lent. In this celebration, many people throw flour at their friends.

The Huli Festival is celebrated on March 31 in India. People play jokes on one another and smear colors on one another celebrating the arrival of Spring.

So, no matter where you happen to be in the world on April 1, don’t be surprised if April fools fall playfully upon you.

Article from: http://www.april-fools.us/history-april-fools.htm