Wishing you Summer Fun!

Let me begin by hoping everybody is having a safe and fun summer!  Katie and I just got back from Yosemite.  We make a trip every year and the beauty and wonder still amaze me every time!  To aid and encourage you in outdoor activities, I am enclosing a SPECIAL GIFT for you today – REFILLABLE Travel Sunscreen w/SPF 30.   This is ideal for backpacks, handbags, car glove departments, and pockets.  **Pull the cap off to use.  **Unscrew the top to refill.  Stay safe in the sun and enjoy! 

Market News!

The market has really started to make a change over the last 3 months.   June median sales price was up 3% from May 2012 and up 10.4% from June 2011!!  Demand is good, prices are great, and interest rates are around 3.75%, 30 year fixed.  Lock in on these historic rates - it is still a great time to buy for both homeowners and investors.  (Enclosed is the First Centennial Market Report.)

Our inventory is low.  We are running with about a 4.8 month supply of inventory, based on June’s sales rate.  A normal market is thought to be a 6 month supply.  The REO market is about a 1.4 month supply.  Active inventory is down 31% from a year ago.  What is this doing to the market?  MULTIPLE OFFFERS HIGHEST AND BEST OFFERS – great time to sell!  

If you know anybody who may be interested in selling or wondering about their property value – please give them my name and number, your referrals are always appreciated.   I provide a Free Comparative Market Analysis.   For both Equity Sales or for Short Sales – it is a great time to sell!  Call me!

Short Sale News:

Short Sales still represent about 50 % of the market.  NV AB 284 has stalled the foreclosure market in Nevada, representing only 15% of new listings in June.  Short Sales are now a better alternative and banks are putting more resources into making it a faster and a more consumer friendly processes.  Please check out my dedicated Foreclosure Alternative Website at www.KevinBown.com. 

HR 3648:  In 2007, President Bush signed into law the Mortgage Debt Relief Act.  It was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash, suddenly found themselves in danger of losing their home to foreclosure.

The act has helped many distressed homeowners find solutions that help them avoid foreclosure and opened up options to them that were previously unavailable.

However, the Mortgage Debt Relief Act was always intended to be a temporary solution and it is now set to expire at the end of 2012. For distressed homeowners, this means that time is running out for them to take advantage of the program and save themselves tens of thousands of dollars.

If anyone you know may need my expertise, again, please have them visit my website www.KevinBown.com for a copy of my recent report entitled "Time is Running Out: How the Mortgage Debt Relief Act can save you!"  Have them contact me for a free confidential consultation.

FHA Home Loan:  If your home loan is a FHA backed loan, a Short Sale will guarantee a homeowner a full deficiency release.   This is considered a FHA Pre-Foreclosure sale and you begin the process of approval before a sign goes in the yard and the property goes into MLS.  Questions if a property is an FHA backed home loan – call me.  The also give seller incentives up to $1,500.

No Doc Short Sale:  Completed my first one this year.  It is a short sale initiated by the lender.  It was Wells Fargo – they set, price, control the markdowns and one offer was presented, gave approval in 3 weeks.  That is what I call a short sale.  In this case they also gave the seller an incentive of $2,500 to participate.                                                                                                                     

Best to you!  KEVIN 775.813.2387