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
It's the end of the year so time for the round-up of distressed property sales in Mountain View. So here's what happened:
Single family and condo townhomes :
Total sales: 563
Short Sales: 62
REO: 34
Distressed sales as a percentage of total sales: 17%
Compare to 2010
Total sales: 572
Short Sales: 50
REO: 34
Distressed sales as a percentage of total sales:…
ContinueAdded by Marcy Moyer on January 8, 2012 at 5:19pm — No Comments
It's the end of the year so time for the round-up of distressed property sales in Redwood City. So here's what happened:
Single family and condo townhomes 2011:
Total sales: 553
Short Sales: 91
REO: 49
Distressed sales as a percentage of total sales: 25.3
Compare to 2010
Total sales: 600
Short Sales: 93
REO: 78
Distressed sales as a percentage of total sales:…
ContinueAdded by Marcy Moyer on January 1, 2012 at 6:00am — No Comments
It's the end of the year so time for the round-up of distressed property sales in Menlo Park. So here's what happened:
Single family and condo townhomes 2011:
Total sales: 451
Short Sales: 39
REO: 22
Distressed sales as a percentage of total sales: 13.5%
Compare to 2010
Total sales: 431
Short Sales: 28
REO: 29
Distressed sales as a percentage of total sales:…
ContinueAdded by Marcy Moyer on December 31, 2011 at 8:14am — No Comments
I was starting to feel like the last player picked in dodge ball. The rejections were really hurting, especially since there was never any reason given. Just messages saying your supporting documents were rejected. Oh the pain!
I finally got a really nice B of A negotiator on the phone today who gave me a simple explanation, the buyer's proof of funds were downloaded as a web page instead of being a PDF of the originals, and the current policy is only original statements are accepted,…
ContinueAdded by Marcy Moyer on December 28, 2011 at 3:18pm — No Comments
Sad story. A client told me last February that she was not able to make the payments on her $750,000 home loan. The house is now worth about $400,000 and this person wanted to get a loan modification and get the principle reduced. I can not tell you how many times I hear this story and how few times I have heard that there actually was a principle reduction. Actually I can tell you how many times I have heard of a principle reduction, once.
Ok, so it is bad enough that banks have been…
ContinueAdded by Marcy Moyer on December 27, 2011 at 3:10pm — 1 Comment
One of the best things that has happened to short sales in the last couple of years is the on line platform for processing a short sale. There are several platforms in use, but Equator is one of the more popular ones, and is the one used for Bank of America and Wells Fargo Short Sales. So, instead of your agent having to fax all the documents, usually several times, the…
ContinueAdded by Marcy Moyer on December 24, 2011 at 12:52pm — No Comments
I know a lot of you are going to think I am crazy but I really love short sales. I am sorry that the market is such that there are many people who need to sell their homes short, but that is the current reality. Given that reality there are many things about the short sale process that I enjoy, fewer things that I just tolerate, and even fewer I hate.
I HATE PRIVATE THIRD LIENS ON SHORT SALES!!!! I can not…
ContinueAdded by Marcy Moyer on December 20, 2011 at 2:08pm — No Comments
There are several different types of short sales that will approve your price and the seller's eligibility before you get an offer. If you do not qualify for one of those programs (like HAFA or Bank of America co-operative short sales) then you can try to do a traditional short sale.
In most traditional short sales after the seller signs an offer,…
ContinueAdded by Marcy Moyer on December 18, 2011 at 3:22pm — No Comments
It happens every year. Agents tell their sellers that they should wait until after the holidays to put their homes on the market. They say no one is looking during December so don't bother. Translation: Agent wants much needed and deserved time off during the holidays, or seller has a lot of family coming and does not want people traipsing through their home with all of the activity going on.
Other side of the equation: Very busy…
ContinueAdded by Marcy Moyer on December 17, 2011 at 3:00pm — No Comments
If you can not pay your mortgage you might want to do something about it sooner rather than later. Here's why:
1. The Mortgage Debt Relief Act of 2007 is set to expire at the end of 2012
2. This act says that if you sell your primary residence as a short sale or it is foreclosed then no federal tax is owned on the debt foregiveness, the difference between what you owe and what the bank was paid back after the…
ContinueAdded by Marcy Moyer on November 21, 2011 at 6:33pm — No Comments
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