Marcy Moyer's Blog (80)

East Palo Alto Ca. Foreclosure/Short Sale Roundup

In East Palo Alto  from Jan 1, 2012 until June 30, 2012 there were:

36 closed short sales

20 closed bank owned homes

Total sales during this time…

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Added by Marcy Moyer on July 21, 2012 at 4:28am — No Comments

Sunnyvale CA Foreclosure/Short Sale Roundup

In Sunnyvale from Jan 1, 2012 until June 30, 2012 there were:

58 closed short sales

32 closed bank owned homes

Total sales during this time period were 447

Total % Short Sales: 12.9%

Total % REO…

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Added by Marcy Moyer on July 16, 2012 at 4:51am — No Comments

Redwood City Ca Foreclosure/Short Sale Roundup

In Redwood City from Jan 1, 2012 until June 30, 2012 there were:

46 closed short sales

22 closed bank owned homes

Total sales during this time period were 363

Total % Short Sales: 12.6%

Total % REO Sales: 6%

Total Percentage  Redwood City Distressed Properties: 18.6%

18.6%…

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Added by Marcy Moyer on July 14, 2012 at 3:23pm — No Comments

A Great Result on a Very Hard Redwood City Chase Short Sale

I have been working on a Redwood City short sale with Chase since last September. Now if this were 2009 this would be more like dog bites man rather than man bites dog. But it is 2012 and most short sales do not take so long. However, this one has a 3rd loan for a lot of money and it slowed the process down.

Selling the property at market value was not that hard, despite being on a fairly busy street. We got an offer for $510,000 and a BPO for $510,000 so it started…

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Added by Marcy Moyer on July 14, 2012 at 10:42am — No Comments

Menlo Park Ca REO/Short Sale Roundup

In Menlo Park from Jan 1, 2012 until June 30, 2012 there were:

9 closed short sales

9 closed bank owned homes

Total sales during this time period were 227

Total % Short Sales: 4%

Total % REO Sales: 4%

Total Percentage  Menlo Park Distressed Properties: 8%

8% of all Menlo…

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Added by Marcy Moyer on July 9, 2012 at 3:14am — No Comments

Santa Clara County Short Sale/REO Roundup

It's time for the short sale/vs REO round-up for the first half of 2012. Today I will do the entire county, and then will break down the numbers by city.

So, in Santa Clara County from Jan 1, 2012 until June 30, 2012 there were:

1783 closed short sales

1099 closed bank owned home

Total sales during this time…

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Added by Marcy Moyer on July 2, 2012 at 4:40pm — No Comments

San Mateo County Short Sale/REO Stats

It's time for the short sale/vs REO round-up for the first half of 2012. Today I will do the entire county, and then will break down the numbers by city.

So, in San Mateo County from Jan 1, 2012 until June 30, 2012 there were:

517 closed short sales

430 closed bank owned home

Total sales during this time period were 2520

Total % Short Sales:…

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Added by Marcy Moyer on July 1, 2012 at 6:31pm — No Comments

Reputation And Choosing a Realtor To List Your Sunnyvale Short Sale

In 2007 the Sunnyvale market was very competitive for buyers, especially for homes in the Cupertino School District. Many homes were getting multiple offers (like today) and nerves were often frayed (like today). I was working with a very nice couple who were looking for a single family home with Cupertino schools. They made several offers before one of their offers was finally accepted. 

One house came on the market in the Birdland neighborhood and the agent said we…

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Added by Marcy Moyer on June 29, 2012 at 1:07pm — No Comments

What To Do If You Can Not Afford To Pay Your Mortgage

Don't be an ostrich!

 

If you have an questions about short sales in The Silicon Valley please feel free to contact me.

Marcy Moyer

Keller Williams Realty

[email protected]

www.marcymoyer.com

650-619-9285

D.R.E.  01191194

Added by Marcy Moyer on June 22, 2012 at 11:30am — No Comments

Does The Amount A House is Underwater Matter in Menlo Park Short Sales

As a Menlo Park Short Sale Agent I get asked this a lot. My answer is a definitive sort of, especially if it is a Chase short sale

Here is how it may make a difference.

Some homeowners owe more on their homes than the home is worth,…

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Added by Marcy Moyer on May 21, 2012 at 8:10pm — No Comments

Sunnyvale Underwater Homeowners, Open Those Letters From Chase

Many homeowners who are having trouble paying their mortgages will stop opening their mail from the lender. It is understandable to feel, what is the point? I can't pay and nothing they say to me will change that. However, if your lender is Chase you may want to open that letter.

Chase is giving relocation assistance to some homeowners who are in default if they agree to short sell their…

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Added by Marcy Moyer on May 18, 2012 at 8:26am — No Comments

I Keep Losing Mountain View Multiple Offers, Should I Change Agents?

It is no secret Mountain View as well as most of the Silicon Valley is experiencing multiple offers on homes for sale. While this is great for sellers, it can be extremely frustrating for buyers, and their agents. After losing 5-10 homes a buyer will unquestionalbly start to doubt their agent. They may feel that their agent is doing something wrong and maybe it is time to find someone else.

Will this work? Maybe, but there are limits to what a…

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Added by Marcy Moyer on May 13, 2012 at 5:00pm — No Comments

Redwood City Short Sales Don't Look So Bad in A Low Inventory Market

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…

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Added by Marcy Moyer on May 9, 2012 at 12:25pm — No Comments

Chase Approves Another San Jose Short Sale

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.…

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Added by Marcy Moyer on May 8, 2012 at 6:46pm — No Comments

Chase Says Keep Trying For a Redwood City Short Sale

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…

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Added by Marcy Moyer on April 22, 2012 at 8:34am — No Comments

Because I Said So or How to Survive Silicon Valley Real Estate

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…

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Added by Marcy Moyer on April 19, 2012 at 8:30pm — No Comments

An Unusual Silicon Valley Wells Fargo Short Sale Just Closed

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…

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Added by Marcy Moyer on April 13, 2012 at 6:42am — No Comments

How Many Short Sales Are on the Market in Santa Clara County?

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…

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Added by Marcy Moyer on March 8, 2012 at 2:00pm — No Comments

What Does it Take to Win in a Silicon Valley Short Sale Multiple Offer Situation

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…

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Added by Marcy Moyer on March 7, 2012 at 9:06am — No Comments

San Jose Short Sale Got Wells Fargo Approval

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…

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Added by Marcy Moyer on March 5, 2012 at 5:03pm — No Comments

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