Better MLS Service   MAY 2008 VOL. I
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Top Violations and How to Avoid Them...
 
Tips on How to Avoid Violations
 

MRMLS Members would never intentionally commit a violation against the MRMLS Rules and Regulations, but we know it happens. Here are the most common violations: Property Descrption, Commission, No Photo, and Incorrect Information Violations. Read the rest of this article to find out how to avoid these violations.
 
Cash-Out Refinancing Declining
 
Freddie Mac Says Cash-Out Activity is Declining
 

Freddie Mac’s recent quarterly review shows that the dollar volume of equity cashed out during the first quarter of 2008 declined to $29 billion with only 56 percent of Freddie Mac-owned refinanced loans including a 5 percent increase above original mortgage balances, compared with the revised 77 percent in the fourth quarter of 2007, the smallest percent of cash-out refinancing activity since the second quarter of 2004.
 
Reduced Property Tax Assessments for Riverside County Property Owners
 
Reduced Assessments on the way for Riverside County
 

Proposition 8: The law requires the Assessor to annually enroll either a property’s Proposition 13 value (factored for inflation no more than 2% annually), or its current market value as of January 1 (lien date) of each year, whichever is less.  When the current market value replaces the higher Proposition 13 value on the roll, that lower value is commonly referred to as a "Prop 8 Value.”

 





 













 
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