The landscape for short sales is changing. As the inventory of homes for sale stays at historically low levels all over Silicon Valley, short sales are gaining in popularity for buyers. Added to that is the fact that short sales, while not a sure thing, are getting approved at increasingly higher…
ContinueAdded by Marcy Moyer on May 9, 2012 at 12:25pm — No Comments
Just got approval on another short sale in San Jose with Chase. They are getting to be one of my favorites!
This was not straight forward. Client lost his job and was not able to make payments. He tried a loan mod but did not qualify due to having too much in retirement account. Client is close to retiring.
Put condo on market and got 13 offers.…
ContinueAdded by Marcy Moyer on May 8, 2012 at 6:46pm — No Comments
I am helping out on a short sale in Redwood City where Chase is servicing the first and second loan. What this means is that the owner has first and second mortgages that were originally gotten from Chase. These loans were then sold to investors and Chase maintained the servicing. This means that ultimately Chase no longer makes the decision about whether or not to…
ContinueAdded by Marcy Moyer on April 22, 2012 at 8:34am — No Comments
It is no secret that the market in Silicon Valley is crazy. The inventory has never been lower so the competition for homes is fierce. For example, Taylor Morrison is opening up a new town home development in Sunnyvale in May and they already have 300 people on the waiting list. Homes in Palo Alto are sometimes getting…
ContinueAdded by Marcy Moyer on April 19, 2012 at 8:30pm — No Comments
I just closed a Wells Fargo Short Sale that is not typical. It was a nice 3 bedroom townhome in North San Jose, close to Santa Clara. The owners were divorcing and neither could afford to buy the other one out or afford the property alone. This constitutes a hardship in most lender's minds. I have closed other Wells Fargo short sales with similar circumstances. The current owners had been able to…
ContinueAdded by Marcy Moyer on April 13, 2012 at 6:42am — No Comments
Another successful short sale - this one on Stratton Major in Centreville, VA. Our clients bought in 2006 for $642,000 and we sold it days ago for $450,000. We went back and forth quite a bit with the lender, Chase Mortgage, but they agreed to work with us and they granted our sellers a deficiency waiver on the unpaid balance. Below are pages of the approval letter: …
ContinueAdded by Jennifer Young on March 30, 2012 at 7:07am — No Comments
Inventory is down in all segments of the market in the Silicon Valley and multiple offers are driving prices up. However, there are still short sales, and in some areas they make up a good percentage of the homes for sale. Here are the numbers:
Palo Alto: Single Family Homes and Condos for Sale: 48 Short Sales: 0 Percentage: 0
Mountain View Single Family Homes and Condos For Sale: 39 Short Sales: 2 Percentage Short Sales: 5.1 %
Sunnyvale: Single Family Homes and…
ContinueAdded by Marcy Moyer on March 8, 2012 at 2:00pm — No Comments
The real estate market in the Silicon Valley is very heated up this days, but there are still plenty of short sales being offered. Many of these short sales are in higher price ranges that have previously not seen a lot of short sale activity. What that means is that agents who do not have a lot of experience…
ContinueAdded by Marcy Moyer on March 7, 2012 at 9:06am — No Comments
I just got approval on a Wells Fargo Short sale in San Jose. It was both a long and short road.
The long road first:
Town home put on the market in October of 2011 at $575,000. After one week we received an offer for which the seller accepted and it was sent to the bank.
Sellers were not behind on payments but are getting divorced and neither one can afford the home alone or…
ContinueAdded by Marcy Moyer on March 5, 2012 at 5:03pm — No Comments
The National Association of Realtors and the U.S. Department of the Treasury are collaborating to help Realtors better assist distressed homeowners who are struggling to Selling Your Home Through a Short Sale - Avoid Foreclosure.
Realtors who attend upcoming Making Home Affordable "Help for Homeowners" outreach events, sponsored by the Treasury Department, will learn insights to help them…
ContinueAdded by Jason Opland on February 29, 2012 at 8:06am — 3 Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in the Blossom Valley Neighborhood of San Jose. So here's what happened:
Single family and condo townhomes :
Total sales: 1141
Short Sales: 412
REO: 271
Distressed sales as a percentage of total sales: 59.8%
Compare to 2010
Total sales: 1125
Short Sales: 366
REO: …
ContinueAdded by Marcy Moyer on February 11, 2012 at 2:02pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in the Almaden Neighborhood of San Jose. So here's what happened:
Single family and condo townhomes :
Total sales: 355
Short Sales: 39
REO: 20
Distressed sales as a percentage of total sales: 16.6%
Compare to 2010
Total sales: 384
Short Sales: 28
REO: 14
Distressed…
ContinueAdded by Marcy Moyer on February 11, 2012 at 1:18pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in the Cambrian Neighborhood of San Jose. So here's what happened:
Single family and condo townhomes :
Total sales: 656
Short Sales: 130
REO: 89
Distressed sales as a percentage of total sales: 33.45
Compare to 2010
Total sales: 750
Short Sales: 114
REO: …
ContinueAdded by Marcy Moyer on February 5, 2012 at 7:57am — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Gatos. So here's what happened:
Single family and condo townhomes :
Total sales: 421
Short Sales: 42
REO: 24
Distressed sales as a percentage of total sales: 15.7%
Compare to 2010
Total sales: 489
Short Sales: 36
REO: 38
Distressed sales as a percentage of…
ContinueAdded by Marcy Moyer on February 4, 2012 at 2:20pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Milpitas. So here's what happened:
Single family and condo townhomes :
Total sales: 513
Short Sales: 150
REO: 112
Distressed sales as a percentage of total sales: 51.1%
Compare to 2010
Total sales: 535
Short Sales: 131
REO: 140
Distressed sales as a percentage of…
ContinueAdded by Marcy Moyer on February 4, 2012 at 1:53pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Altos Hills. So here's what happened:
Single family and condo townhomes :
Total sales: 97
Short Sales: 4
REO: 6
Distressed sales as a percentage of total sales: 10.3%
Compare to 2010
Total sales: 81
Short Sales: 5
REO: 1
Distressed sales as a percentage of…
ContinueAdded by Marcy Moyer on January 31, 2012 at 5:35pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Altos. So here's what happened:
Single family and condo townhomes :
Total sales: 353
Short Sales: 4
REO: 3
Distressed sales as a percentage of total sales: 2%
Compare to 2010
Total sales: 354
Short Sales: 6
REO: 3
Distressed sales as a percentage of total…
ContinueAdded by Marcy Moyer on January 31, 2012 at 4:54pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Cupertino. So here's what happened:
Single family and condo townhomes :
Total sales: 453
Short Sales: 21
REO: 11
Distressed sales as a percentage of total sales: 6.8%
Compare to 2010
Total sales: 844
Short Sales: 31
REO: 33
Distressed sales as a percentage of…
ContinueAdded by Marcy Moyer on January 29, 2012 at 4:44pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Santa Clara. So here's what happened:
Single family and condo townhomes :
Total sales: 816
Short Sales: 184
REO: 116
Distressed sales as a percentage of total sales: 37%
Compare to 2010
Total sales: 818
Short Sales: 162
REO: 133
Distressed sales as a percentage of…
ContinueAdded by Marcy Moyer on January 22, 2012 at 5:40pm — No Comments
It's the beginning of the year so time for the round-up of last year's distressed property sales in Sunnyvale. So here's what happened:
Single family and condo townhomes :
Total sales: 835
Short Sales: 111
REO: 73
Distressed sales as a percentage of total sales: 22%
Compare to 2010
Total sales: 849
Short Sales: 106
REO: 89
Distressed sales as a percentage of…
ContinueAdded by Marcy Moyer on January 10, 2012 at 4:46pm — No Comments
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