Title Insurance: What It Is and Why You Should Get It

All play and no work make for a very uninformative real estate blog! Today I'm returning to the topic of understanding Escrow and buying or selling a property, and this post will be focusing on title insurance. It's a one time purchase that can be so important and vital to protect your property and investments, and should really never be skipped.

First, a history lesson! In the early 1800s, there was no title insurance, it was up to the buyer to do the research and make sure that the person they were buying the title from was actually the owner, and that there were no liens or other past heirs that might have any claim over the title of the property. If they were incorrect and someone else were to sue them for the property, they bore sole responsibility for proving they were the rightful owner in court, including all the expenses there of. In 1868 there was a case by the name of Watson V. Muirhead, where a seller was given false information by a lawyer and told the buyer that the title was clear. When the buyer was then informed that there was a lien on the property from before he purchased the title, he sued. However, the courts ruled that when given false information from a professional, the seller was not responsible, and thus a precedent was born for title insurance. In 1874 Pennsylvania passed an act that allowed for title insurance to be purchased to protect title ownership.

Okay, enough with the dates! With all of that information thrown at you, I'd like to break it down and really put it into clear language. Before you purchase title insurance, a title professional will throughly search documents that span over a long period of the properties history to make sure that there are no liens on the property, for example, if a former contractor has a claim that they did work that was never fully paid for. They also look for any mistakes or forgeries in the past paperwork, making sure there is a clear line of ownership, and that there are no missing heirs from past owners that may make a claim to the property. However, about 1/3 of title searches miss something, and that is the key reason behind why title insurance is a must have for buying a property. If something in the future comes up, your title insurance protects you from all costs dealing with fighting in court for the title, for the entire time that you OR your heirs own the property.

Now, before you go and purchase your title insurance, there are a few things to keep in mind. Does the state you are purchasing in have regulated pricing for title insurance companies? If so, there are some questions to ask and some information to look for. It is still possible to price match even when the prices may be fixed, because there could be other processing fees involved before the final price is reached. Sometimes that price can be a 20% difference when comparing companies. Do your local research to find a fit thats best for your needs.

You will also need to know how much coverage you will need, most cases being a standard basic coverage. There are other more comprehensive options, but those are mostly for commercial property purchases. Do you know who is purchasing the title insurance? Sometimes, if you're paying for both the buyers and sellers title insurance you can get certain discounts for doing so. You also have the right to select your own title company, so never let someone tell you that you have to go with a particular company.

And as always, your realtor can give you any advice you may need, and if you have uncertainties, they should help make you feel confident in every aspect of your purchase. I hope this helped explain a little bit more and provide clarity to you in the business of buying a home. Happy buying!

~ Kelly Cranmer Valadez

Storm A Coming!

For those of you who know me personally, I'm a big worrier. I like to think about everyone I love at all times, and make sure that they're taken care of and safe. The storm that is heading our way the middle of this week is expected to be pretty severe, with high wind warnings and possible flash flooding and power outages. With that in mind, I wanted to take a moment to remind everyone about a few things to keep around the house, should something happen.

If you're caught at home and you have to wait it out, you'll need to have a few things on hand to make sure that you can last until help comes or the danger subsides. These things include, but are definitely not limited to:

    Candles
    Flashlights
    A variety of battery sizes
    Battery powered radio
    Canned or dried foods (Manual can openers!)
    Bottled water
    Freshly stocked first aid kit
    Blankets
    Baby items
    Cash (in case ATMs are out of order and you need to leave)

And it's also a good idea to make sure your car has a full tank of gas, you never know if you have to evacuate, stopping for gas can be the difference of making it to safety or not.

If you're caught out in the storm, remember that even a few inches of water can sweep your car away in the right conditions, so being more cautious is always best. Having a first aid kit in the car can really help save you if you're trapped in your car. Try also to keep a few coats, some dried fruits and nuts, and a few bottles of water. A flashlight should be kept in the glove compartment at all times anyway, they're a must have tool. A lighter or some matches would also be a life saver to keep in case of emergency too.

Take the time to be over prepared now, rather than under prepared when or if the trouble strikes. It's what I suggest to all of my close loved ones, and I hope you can stay dry and safe this coming stormy season!
~Kelly Cranmer Valadez

Holiday Cheer is Gearing Up

Today I just wanted to reflect on what a great holiday and weekend I had, and how blessed I am to live here in Marin. There were so many things going on, it was impossible to see them all, but I did get to see a lot of the fantastic holiday events that are starting and going on until Christmas or beyond.

St. Francis Sugar Tree

The Hospice by the Bay wrapping charity event was a success, I got to wrap quite a few presents and meet great people, so definitely a wonderful day helping others. I highly recommend volunteering for this organization, they do great work and your support really turns into helping those in need.

The Fairmont Hotel Christmas Tree

Also this weekend, I went into the city to see Union Square and enjoy all the beautiful decorations that are going up for Christmas. The tree is spectacular this year! And the St. Francis Sugar Tree is really a treat to see. It really does look too delicate and gorgeous to eat. After that we went to the Buena Vista Cafe, something I do every year to get in the Christmas Spirit, and had an Irish Coffee. It's my favorite treat to relax with!

Another stop that is really beautiful to see is the Fairmont Hotel's decadent displays over on California street. The main tree is breathtaking, and they've taken out all the stops in the lobby and outside of the hotel. They even have a Christmas list nook where the kids can write to Santa and put it in a mailbox, (that apparently has a very fast delivery time to the North Pole). Right behind it is one of the most elaborate gingerbread houses you'll ever see, you can even go inside it! It's 22 feet tall and 23 feet wide, with thousands of gingerbread bricks and over a ton of royal icing and other candy embellishments. They're famous for this beautiful and astounding edible display, and it took over 3 weeks to finish! The opening party on Saturday was a lot of fun, you can go to their website to see their upcoming events, of which they have quite a few planned throughout the month.




It was a great way to spend the weekend, and it's wonderful that it's so close to Marin. There are so many things for a family to go and do in San Francisco this holiday season, from seeing Santa at the Westfield Mall, or ice skating at the Safeway ice rink. Why not bring the kids and have a blast?

Happy Holidays,
~Kelly Cranmer Valadez

A Helping Hand

Hospice by the Bay was founded in 1975, the first in California and the second in the U.S., and has been helping people with end of life and chronic pain care in a compassionate environment ever since. Their careful and loving nurses, counselors, and volunteers help people of all ages, and their service and expertise in this field have helped so many.

I myself was on one of the boards in the early 2000's, where we organized fundraisers to help them with their ongoing mission to help those in great need. It was an amazingly rich and satisfying experience and I would gladly encourage anyone who is looking to help to donate their time to this wonderful organization.

Town Center at Corte Madera

This holiday season I find myself wanting to be involved again, and so I've signed up for their annual Hospice by the Bay Holiday Gift Wrap. This Friday, at the Town Center in Corte Madera, I'll be set up with them to gift wrap all those holiday goodies you'll be giving to your loved ones. Whether you're done with your shopping, or just taking a break before getting back to the Black Friday deals, stop by and let me do all that pesky wrapping for you. You'd be giving a wonderfully generous donation to a great organization, having a much deserved break, and getting beautifully wrapped presents with no work on your part!

The event is happening from November 28th through December 24th, but I'll be there on the first day from 11:00-1:30. I'll be dishing out presents, smiles, and laughter, so stop by and say hi!

~Kelly Cranmer Valadez

Understanding Escrow: The Basics

Escrow. Many people know the word, perhaps not nearly as many know what it really means. I'd like to help alleviate some of the stress of buying or selling a home or property by helping to clear up the confusion and unease about going into Escrow. This will be the first post of many going over the logistics of Escrow, and I'll be putting it into terms that I'm hoping will be easily understood by everyone, not just a seasoned real estate agent!

The literal definition of Escrow is as follows:

    A contract, deed, bond, or other written agreement deposited with a third person, by whom it is to be delivered to the grantee or promisee on the fulfillment of some condition.

Because buying and selling homes are huge transfers of property, there needs to be a secure third party involved to hold all valuables and information until all the terms of the contract on both sides have been fulfilled. That is what is being done when you "go into Escrow". You are acknowledging that you and the other party have come to a tentative agreement and you would like to formalize that agreement and proceed to the eventual transaction.

You can pick the Escrow company yourself, rely upon your real estate agent, or negotiate with the other party on which company to use. Your agent, as always, will have a lot of great advice on which company to go with. Feel free to ask any and all questions, it's important for you to feel confident and informed during the whole buying and selling process.

Have a question? Leave me a comment, and I'll answer as soon as I can.

~ Kelly

Tired of Cooking? Go Out!

A huge turkey roasting away in the oven, rolls proofing on the counter. Cranberry sauce, mashed potatoes, green bean casserole, candied yams, stuffing... Oh my gosh! Did you forget the dessert? Is someone else bringing dessert?!

Many people this holiday season couldn't imagine anything BUT cooking a huge dinner for the whole family to gather around and enjoy. But for others it can be way too much work. Or perhaps you're not part of a huge family, have other parts of family planning on being out of town, or just plain too busy to put on the huge production at home. Marin county is home to so many amazing restaurants, why not make plans to eat out for this coming Thanksgiving holiday? Just one more thing to be thankful for, no dishes!

Here's a list of restaurants that will be open and serving unique and delicious Thanksgiving meals this season. Don't wait though, reservations fill up quickly, and the big day is right around the corner!

    Boca Steakhouse         Novato                    415-883-0901

    Insalata's                    San Anselmo            415-457-7700

    Left Bank                    Larkspur                 415-927-3331

    Brick & Bottle             Corte Madera          415-924-3366

    Il Fornaio                    Corte Madera         415-927-4477
    El Paseo                      Mill Valley              415-388-0741

    Buckeye Roadhouse     Mill Valley              415-331-2600

Here's to you and yours, and a warm, heartfelt Thanksgiving!

-Kelly

Keeping Your Home Pest Free, Naturally

As a mother of two and a resident of one of the most beautiful counties in America, it's important to me to use environmentally safe products, including pest control products. Now that the weather is getting colder and all those critters are trying to come inside to get out of the wet and the cold, I thought I'd share some Earth and family friendly pest remedies.

Outside

There are many pest deterrent plants that you can plant around your home to prevent unwanted guests from even wanting to be near your property in the first place. Lavender and Rosemary are both highly potent at keeping mosquitos at bay. Plus side, those plants do wonderfully in California, and especially here in Marin County!

Other repellent plants include:

      - Catnip
      - Chamomile
      - Clover
      - Garlic
      - Geraniums
      - Lemon Balm
      - Lemon Thyme
      - Mint (Varieties)

Many herbs you would grow in an herb garden are also useful as repellents; Chives, Dill, Fennel, Oregano, Parsley and many others.

Inside

If you happen to have any uninvited guests already inside your home, there are a few things you can do to get rid of them.

      - Lavender and Lemon essential oils repel mosquitos and other pests. Pour a few drops in oil burners to give your home a lovely smelling repellent.
      - Borax is a natural soap that is safe for children and pets but lethal to ants and other insects. Mix with sugar and leave in a small pile near where you're seeing ants. The workers take the mixture back to the nest and the ants should be completely gone with a week or two. You can also buy a product called Terro which is the same thing, from many drug or hardware stores.
      - Flies? Use any sweet vinegar, Apple Cider or Rice, mix with dawn and water. Put in a cup with plastic wrap over the top held on tight with a rubber band, and poke small holes in the top. The flies will crawl inside and won't be able to climb back out again. Works for house flies or fruit flies.

Here's to a safe and pest free home this winter!
-Kelly Cranmer Valadez

The Morrow Report

Welcome back...  Finding your perfect home can be a challenge and sometimes frustrating.  Many factors go into having all your ducks in a row. I have had the pleasure of working with one of the most professional Mortgage Brokers in Marin County. As I sat with Brian, we started talking about the frustrations and fears that some people have navigating their way through the financing of a new home. So, Brian and I came up with a segment called the "Morrow Report".  This will be a monthly report where you can find great information regarding the Mortgage process,what's happening in the banking world and where you can ask question from Brian himself.
For Real Estate needs, feel free to contact me: Kelly Valadez Vanguard Properties  415.519.0885 kfvaladez@gmail.com

  Please enjoy the first of edition of the "Morrow Report"

Questions:

1.    Why should I buy, instead of rent?   

2.    In addition to the mortgage payment, what other costs do I need to consider?

3.    Should I use a real estate Agent?

Answers:

1. ANS: When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years.   

2. ANS: Well, of course you'll have your monthly utilities. If your utilities have been covered in your rent, this may be new for you. Your real estate broker will be able to help you get information from the seller on how much utilities normally cost. In addition, you might have homeowner association or condo association dues. You'll definitely have property taxes, and you also may have city or county taxes.  Again, your broker will be able to help you anticipate these cost.

3. ANS: Using a real estate agent is a very good idea. All the details involved in home buying, particularly the financial ones, can be mind-boggling. A good real estate professional can guide you through the entire process and make the experience much easier. A real estate agent will be well-acquainted with all the important things you'll want to know about a neighborhood you may be considering

With other Mortgage related questions, call or email Brian.

Brian D. Morrow

Envoy Mortgage

NMLS# 331058

415.310.5586 cell

Brian@brianmorrow.com

Bmorrow@envoymortgage.com

With Brian, you can expect an authentic experience defined by expertise, honesty and integrity.

Whether you’re buying a property for the first time or refinancing a mortgage, you deserve a smooth, respectful and personable transaction

To Stage or Not to Stage?

Great question. Staging your home helps potential buyers envision what their furniture would look like in the home. An empty home can be intimidating. Clearing clutter, taking down personal photos, applying a fresh coat of paint, making minor repairs and keeping a pleasant aroma are all basic techniques to make your home appealing.

Improve the flooring.  Wood, tile and new carpet can be a show stopper.  If the flooring is chipped, torn, or dirty you'll get the opposite reaction from buyers.  They may thing your home hasn't been cared for properly, which could result in a lower offer or no sale at all.

Staging does not have to cost an arm and a leg, simple changes with your own furniture can make a world of difference. If you are interested in a few recommendations for Staggers in Marin County, please feel free to email me. kfvaladez@gmail.com

Some information was courtesy of Re/Max copyright 2009

Water Information

Welcome to my Real Estate Blog.....

Today I have an open house in San Rafael, a lovely town home by the bay in beautiful Spinaker Point. 1570 square feet, two story 2 bed 2.5 bath with large flagstone patio. You can view this property at 7ROCKPORTCOVE.CBRB.COM

All Baseball fans......Did you know that San Rafael has their very own professional Baseball team?  Well we do.  San Rafael Pacifics are due to start the 2014 season soon, its a great way to spend family time or a date night.  Check out their website at www.pacificsbaseball.com.