Tag Archives: John J. O’Dell

Real Estate

DRE Consumer Alert Regarding Wire Fraud in Real Estate Transactions

Real estate transactions in today’s world often involve the wiring or electronic funds transfer (EFT) of money to complete a deal. Previous consumer alerts have referenced or covered wire fraud in timeshare transactions and fraud against seniors.

Wire transfers and EFT’s in real estate purchase transactions have become the targets of criminals who interject themselves into a real estate transaction by posing as a party in the transaction. In these cases, the criminal often takes on the identity of a title or escrow company or real estate agent in the transaction and provides legitimate-looking instructions directing the buyer where to wire or transfer funds. These instructions result in the wiring or transfer of funds to the criminal’s bank account, often overseas, and the immediate loss of thousands, or hundreds of thousands, of dollars to the victim.

These are sophisticated, professional-looking attacks on your real estate transactions, and you need to be on the lookout. Cyber criminals may convincingly take on the identity of legitimate parties to your transaction, using authentic-looking logos and personal details in communications, in order to make you or your clients feel comfortable. It is best to be safe in how you respond, and to assume that your transaction is being targeted.
What can you and your clients do to avoid such criminal activity?

1. Whenever possible, use alternatives to wire transfers or EFT’s, such as cashier’s checks, and get a receipt. For smaller transactions, make the payment in person by check or credit card and get a receipt, as these payment sources provide you with proof of payment.

2. Obtain phone numbers and account numbers of real estate agents and escrow-holders at the beginning of the real estate transaction, and use those numbers throughout the transaction.

3. Even if it looks or sounds legitimate, do not act on a change of wiring or EFT instructions that you receive electronically (via e-mail) or via phone call. If your real estate transaction will utilize wiring or EFT of funds, and you (or your client) receive an instruction change about wiring or EFT of funds, call the real estate agent or escrow officer by phone at the known number you obtained at the start of the transaction and verify new instructions before sending money. Better yet, if there is a wiring or EFT instruction change, instead make payment in person using cashier’s check!

4. Do not send personal information (bank account numbers, credit card numbers, social security numbers, and financial details) by personal e-mail or text. Take steps to use a secure, encrypted site to send personal information, or provide this information in person.

If you (or your clients) are victimized, it is critical that you or your client contact your depository institution and the Federal Bureau of Investigations (FBI) immediately in order to have a chance at halting the criminal transfer. File a report with the FBI by calling a local FBI office or reporting online at FBI Internet Crime Complaint Center.  Their web site is: bec.ic3.gov

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John J. ODell Real Estate Broker
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    Grass Valley, nevada county fair, Nevada County Information, Real Estate

    Nevada County Fairgrounds Country Christmas Faire Results

    Last weekend’s 34th Annual Country Christmas Faire at the Nevada County Fairgroundswelcomed more than 8,000 visitors and 115 vendors, featured 45 gingerbread houses and 75 coloring entries, and hosted a canned food drive.

    The 16 th Annual Gingerbread House Competition featured 45 entries. Of those entries, Best of Show ribbons and gift baskets donated by Tess’ Kitchen Store were awarded to Leeam Eaton, Owen Strolle, Johanna Pease, and Avery Lawson/Joanne Perilman. The People’s Choice/Best of Show Winner was Kathy Kinney, who received a gift basket from Tess’ and a cash prize.

    First place winners in the Gingerbread House Competition include Charlie McCollum, Breck Lumbard, Emelina Lumbard, Christian Augustine, Lilah Black, Evie Black, Hazel Duran, Annabelle Husak, and Deacon McCollum (age 5 & under); Leeam Eaton (age 6-8); Finn Beckin (age 9 – 12); Jessa Jaskier (Kits); Owen Strolle (age 13-17); Kathy Kinney (age 18 -64);

    Johanna Pease (Special Needs); S.S.J. Stalcup and Ramey Cousins (group – children); Avery Lawson/Joanne Perilman, and Margo Murphy (family); and Christie Harris (group – adult). At Sunday’s canned food drive, Interfaith Food Ministry collected more than 578 pounds of food for families in need.

    In addition, the Clear Creek School Errand Elves raised funds for science camp; and Big Horse Works, who provided carriage rides at the Faire, donated more than $300 to those impacted by the Camp Fire.

    The names of all the Gingerbread House Competition winners can be found on the Fairgrounds’ website at NevadaCountyFair.com

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    Contact Us Today for all your real estate needs
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    John J. ODell Real Estate Broker
    RE 00996641

       

      nevada county fair

      Nevada County Fairgrounds Foundation Fundraiser a Sucess

      Members of the Foothill Lions Club, including Chef Arnie Romanello, prepare to serve to a sold-out crowd at the Nevada County Fairground Foundation’s first annual Cioppino Feed.
      Members of the Foothill Lions Club, including Chef Arnie Romanello, prepare to serve to a sold-out crowd at the Nevada County Fairground Foundation’s first annual Cioppino Feed.

      By Wendy Oaks

      Thanks to Foothill Lions Club and the community for its support

      The Nevada County Fairgrounds Foundation’s first annual Cioppino Feed was a huge success, thanks to community support, a sold-out event, and a successful auction.

      Held last weekend at the Fairgrounds, Chef Arnie Romanello created and served his special 100-year-old recipe to a sold-out crowd.  A special thank you goes to the Foothill Lions Club for donating their time and services to the event, as well as to the Cool Hollow 4-H Club for serving the guests. Thank you to SPD, Raley’s, Save Mart, Grocery Outlet, B & C True Value Hardware, A to Z Supply, Sara Lee Bakery, Hills Flat Lumber, Mill Street Clothing, Nevada City Winery, the Hawkeswood Family, and Safeway for their donations.

      “We are so grateful to our community for supporting the Foundation and its events,” said Ed Scofield, President of the Fairgrounds Foundation. “As state funding is eliminated from our community Fairgrounds, it’s more important than ever to do what we can to support our Fairgrounds to ensure that it remains a viable part of our community for generations to come. Continued community support at events like this will ensure that happens.”

      The Nevada County Fairgrounds Foundation was established in 2005 to fulfill its mission of supporting and improving the community’s Fairgrounds.

      For more information about the Fairgrounds Foundation, or to become a Foundation member, contact the Fairgrounds office at 273-6217 or visit the Foundation’s website at http://NevadaCountyFair.com/Foundation.

      By: Wendy Oaks

      Publicist, Nevada County Fairgrounds
      (530) 273-6217
      wsoaks@gmail.com
      Website: www.NevadaCountyFair.com
      Facebook: Nevada County Fairgrounds

      Nevada County Fair                          August 10 – 14, 2011

      Draft Horse Classic                            September 22 – 25, 2011

      Halloween at the Fairgrounds      October 29, 2011

      Country Christmas Faire                  November 25 – 27, 2011

       

      For all your real estate needs call or email:

      John J. O’Dell
      Real Estate Broker
      O’Dell Realty
      (530) 263-1091
      Email John at jodell@nevadacounty.com

      DRE #00669941

      Business

      Beale Air Force Base Lands MC-12W Spy Plane Mission

      The first MC-12 Liberty aircraft lands after its first combat mission in June 2009 at Joint Base Balad, Iraq. U.S. Air Force
      The first MC-12 Liberty aircraft lands after its first combat mission in June 2009 at Joint Base Balad, Iraq. U.S. Air Force

      The MC-12W spy plane mission will be based at Beale Air Force Base, bringing hundreds of new airmen and greater economic impact to the surrounding region.

      “This should be a shot in the arm for the Yuba-Sutter area economically,” said U.S. Rep. Wally Herger, R-Chico, whose office announced the mission’s placement Friday. “We are so excited.”

      With the first plane arriving in May, by July the base will have up to seven of 37 total “Liberty” planes, while the others are deployed elsewhere. The planes fly at low and medium altitudes for reconnaissance and spy missions and are piloted, unlike the Global Hawks also based at Beale.

      Brynda Stranix, president and chief operating officer for the Yuba-Sutter Economic Development Corporation, said she expects civilian staff supporting the mission could number another 150.

      The mission will require 555 enlisted airmen, and Herger said he would expect it will require new civilian support staff as well.

      She added her office will target the contractors, possibly as many as 120, who’ll be servicing the planes in an effort to get them to base their businesses locally.

      “When you’re talking families, it could be up to 2,000 people who will be coming here as a result,” she said. Over time, everything from recreation to retail will see an increase in demand.

      Click Here for the rest of the story from the Appeal Democrat

      For all your real estate needs, write or call:

      John J. O’Dell
      Real Estate Broker
      O’Dell Realty
      (530) 263-091
      Email John at jodell@nevadacounty.com

      DRE# 00669941

      Real Estate

      Chase Bank Accused of Breaking and Entering

      A couple is accusing banking giant Chase of locking them out of their home and removing their personal property before a foreclosure was finalized.

      Banks across the country have faced similar accusations. Lenders have argued they have the right to “secure” vacant properties they’ll soon own, but lawyers say it’s trespassing or breaking and entering when home owners still own the title of the property and the banks don’t yet.

      In this most recent case, the Florida couple says they arrived home one night to find the locks had been changed and a sign posted on the window that said the home was being managed by Chase Home LLC. The couple, who said the house was to be sold in a foreclosure sale in a few weeks, say the bank didn’t give them a warning or notice of eviction.

      The couple has accused the company’s representatives of removing the home’s appliances and the air conditioning unit as well as some of their personal belongings. Chase says the stove, refrigerator, and air conditioning unit were already missing when their representatives entered the house.

      The couple’s mortgage has been in default since 2007, but court cases have prolonged the foreclosure since the couple filed for Chapter 7 bankruptcy in 2009.

      Chase spokeswoman Nancy Norris says that Chase authorized “a vendor” to change the locks on the home after it “determined” the house was vacant.

      “Before the property was secured we confirmed that the home was empty,” Norris told the Miami Daily Business Review. “The utilities were turned off … we took photographs on the day we secured the property and the home was in disarray.”

      Source: “Chase Accused of ‘Breaking and Entering’ Couple’s Home; Banks Claim They Have Duty to ‘Secure’ Collateral,” Miami Daily Business Review (March 24, 2011)

      For all your real estate needs, call or email:

      John J. O’Dell
      Real Estate Broker
      O’Dell Realty
      (530) 263-1091
      Email John at jodell@nevadacounty.com

      Real Estate

      Home Buying Paralysis? Tips for Getting the Best Deal Faster


      The inventory of homes for sale has increased in recent months, causing some buyers to hesitate before making an offer on a home for fear a better home at a more favorable price will become available.

      • Although real estate agents are showing more homes to clients, people still are buying homes, especially first-time buyers.  According to the latest figures from the NATIONAL ASSOCIATION OF REALTORS® (NAR), first-time buyers now account for 50 percent of all home sales.
      • Some agents claim that today’s buyers are having a problem staying committed to the home search.  During the height of the market, home buyers were more apt to make housing hunting a priority and to move on a good deal.  Real estate experts advise today’s home buyers do the same to be successful in their home search.
      • Making a list of “musts” and “wants” for home features will help home buyers narrow down the search.  Identifying key features, such as the number of bedrooms or bathrooms, will help buyers avoid being overwhelmed by the number of homes available.
      • Buyers are best advised to work with a REALTOR® who is familiar with the area.  Media reports that home prices will decline further may be true for some areas, but not necessarily in all areas.  All real estate is local, so finding out what’s happening in a specific neighborhood is most helpful.

      Read the full story

      For all your real estate needs call
      John J. O’Dell
      Real Estate Broker
      (530) 263-1091

      DRE#00669941