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This cute little house was listed, negotiated, and CLOSED in less than 90 days by your Palm Springs Short Sale Specialist!

Primary home and the Sellers were relocated.  One note with Chase, and the negotiator was good; meaning she responded relatively quickly.  The closer dropped the ball a couple times, but nothing awful.  No cost to Seller, all deficiencies forgiven, and they've moved on with their lives.  Buyer got a great little investment home.  All is well.

This lovely little home in the La Quinta Cove will get a facelift, and be available for a tenant within the next two weeks.

List Price:  $130,000   Closed at $135,000

Chase write down?  Approx. $50,000.  Not huge, and now the home can be occupied after it's freshening up. 

I list, work and CLOSE my short sales!  No third party negotiators used or needed.  FREE consultations!

While prices are rising in the Silicon Valley there are still homes that are underwater and you may need to short sale your South San Jose home. If this is the case, don't wait!

Bank of America has instituted some new policies which can have a major influence on your South San Jose short sale.

Co-operative Short Sales: Bank of America has a program where they will let you know ahead of time how much they are willing to accept for you South San Jose home in a short sale. Once you agreed to do the short sale they would put a hold on foreclosure activity and give you some money at close of escrow.

The new policy is that there will be no holds on foreclosure until the offer is fully accepted by Bank of America. What this means is that if you can not make your payments  on your South San Jose home and want to short sell you can not wait. You will not be allowed to stay in your home for months trying to modify your loan and trying to get a new job. Once the notice of default has been recorded you will have 3 months to get your South San Jose home sold as a short sale before the notice of trustee sale is recorded. At that point you have another 3 weeks before foreclosure on your South San Jose home.

As any real estate agent familar with south San Jose short sales knows, they take time for approval. Even a Bank of America co-operative short sale can take time. 4 months is not unheard of to obtain approval on a South San Jose Short Sale, so if you can not make your payments, do something or you could lose your home to foreclosure.

If you have any questions about Short Sales in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

If you are the Personal Representative for a  San Bruno Home in Probate that has a delinquent mortgage, but there is equity in the home, DON'T BE AN OSTRICH!!!!!!

It is now very common for San Bruno homes that are in Probate to have mortgages. Many homeowners were enticed to refinance in the last decade because of easy money or low interest rates, many seniors have reverse mortgages on their  San Bruno Probate homes, and some people did not refinance because of low interest rates, but because they were helping out family members.

When a mortgagee dies the mortgage still needs to be paid. Death does not eliminate the obligation. So what do you do if the mortgage is late, the home is in foreclosure, and the estate has no money to pay the mortgage? It is very common for San Bruno Probate estates to be house rich but cash poor.

The first thing that has to happen in a probate with this situation is that a personal representative needs to be appointed. This sounds like a no brainer, but sometimes there are fights within a family as to who that person is going to be, and while people are fighting the bank could be foreclosing. So stop fighting and get someone appointed. 

Once the Personal Representative is appointed he or she should hire a real estate agent. This agent should have experience in both probate and short sales. Probate experience is a no brainer, but the reason for short sale experience is because that person will know who to talk to to postpone the foreclosure.

You will need to give authorization to your agent to speak with the bank and that takes a few days, so do this right away.

Once the postponement is granted get your San Bruno Probate home on the market and get it sold. Postponements generally are only good for 30 days at a time, and you may not get a second one if the home does not have an offer, so don't delay.

If the home has no equity then you should speak with the bank about a Deed in Lieu of Foreclosure. You may be able to negotiate the bank giving the estate $5,000 to $10,000 if you give them the keys and empty out the San Bruno Probate home. However, prices are appreciating so rapidly right now that you may believe your San Bruno Probate home is underwater when it really isn't.

So, if you have a San Bruno home in Probate and there is no money to pay the mortgage, don't just stand there, do something. Take the necessary steps to get help to make sure the estate's home is not lost to foreclosure. If you hide your head you could lose hundreds of thousand of dollars in equity.

If you have any questions about selling a San Bruno Home in Probate please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Glendale Short Sale Help

Glendale, California – Is your loan with a large Bank/Lender, for instance Chase, Well Fargo, Bank of America or Citibank? In contrast, these Banks/Lenders usually do not make the FINAL decision on your Glendale Short Sale.

Here are the reasons why:

The vast majority of the time, the banks/lenders are working as a just the servicing company. They’re handling the loan for an “Investor” or third party.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The third party owner will most likely be a corporation, a pension fund, a Wall Street firm, or split up amongst sometimes thousands of individuals in what’s called MBS (Mortgaged Backed Securities)

The owner, or Investor, can also be a government backed or sponsored entities…for instance, Fannie Mae & Freddie Mac. These entities are called GSEs (Government Sponsored Entities).  This is essential, in most cases, because you can contact these entities if your servicer refuses your short sale.

What to find out if Fannie Mae or Freddie Mac own your mortgage loan? Click here! We have ways to find out who the Investor is on your mortgage loan if your home is NOT owned by Fannie Mae & Freddie Mac. Click Here, and fill out the short form to the right of the page and one of my team members will give you a call…we have multiple ways of figuring out who the investors are and how to get a hold of them. Usually, they will reassess your short sale…all you have to do is present your case and make sure that they are aware of your concerns and let them know absolutely why they should accept the short sale offer.

I’ve noticed that the Investor will generally do a much better job of assessing the short sale offer…especially, because it’s their money. Once their review is complete, they will usually approve the short sale offer and make sure that the servicing company is well aware of the acceptance. This has been especially helpful when the servicing company has asked for a contribution from the buyer and/or seller, when they want to issue the seller a promissory note or a deficiency judgment.

There has been many times where the negotiator at the servicing company will just reject the short sale for no good reason. There have been other times where the negotiator has asked for irrational demands…like an offer on the home for above fair market value.

You may ask why in the world someone would do this. Well? It could be multiple reasons…for instance; they may get compensated with a bonus for obtaining an offer and successfully closing the short sale for a higher price than what the property is worth.

Do to this, they might turn down a short sale offer that otherwise might have been approved. When this happens and the property forecloses, the Investor usually nets a much lower amount back, once the home is sold as a REO.  It becomes a lose, lose situation for all parties involved including the investor. The servicing company is the only one that usually wins regardless of the property foreclosing or closing through a short sale. Their servicing agreement allows them to collect everything that’s owed to them by the investor on the property; which puts a lot less money into the investor’s pockets.

This might be a surprise to many of you, but this does happen quite often. If you feel like this is happening to you, find out who the investor is and make sure they are aware of what’s happening with the servicing company. I’ve personally been able to get multiple short sales approved by bypassing the servicing company and going directly to the investor when the servicing company does not cooperate.

I can help you short sale your property and never pay the bank another penny. Send me an e-mail at CMe4Homes@JenniferEscobar.com will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (818) 335-7078

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Want more information about a California Free Loan Modification? Our FREE Loan Modification Services will help you get a loan modification approved with your lender.

Click Here for more information regarding my FREE LOAN MODIFICATION SERVICES!

Thanks for reading my blog post, Jennifer Escobar.

The Jennifer Escobar Team @ Qwest Real Estate

Phone: 818-335-7078              Email: CMe4Homes@JenniferEscobar.com

Website: www.TheJenniferEscobarTeam.com

Glendale California Real Estate | Short Sale Specialist | Short Sales | California Free Loan Modification Los Angeles Short Sale Specialist | Los Angeles Short Sale | When to short sale in Los Angeles | Los Angeles Short Sale Taxes | Why Short Sale in Los Angeles | Los Angeles Short Sale Requirements | Los Angeles Short Sale Guidelines | How does short sale work in Los Angeles | Los Angeles Mortgage Short Sale

Jennifer Escobar Specializes in FREE California Loan Modification Help to Southern California distressed homeowner’s who are seeking FREE CA Loan Modification assistance in their pursuit of a Loan Modification in Southern California. Furthermore, Jennifer Escobar also Specializes in Short Sales and has successfully listed, marketed and successfully negotiated hundreds of short sales in Southern California. Jennifer Escobar is a Short Sale Specialist successfully negotiating short sales in Glendale, Burbank, Granada Hills, North Hollywood, Sunland, Tujunga, Sylmar, Van Nuys, Valley Village and Lake Balboa. Glendale Loan Modification Help, Glendale Short Sales, Glendale Short Sale Realtor, Short Sale Realtor. Glendale CA Short Sales. Glendale Realtor. North Hollywood Loan Modification Help, North Hollywood Short Sales, North Hollywood Short Sale Realtor, North Hollywood Realtor. Granada Hills Loan Modification Help, Granada Hills Short Sales, Granada Hills Short Sale Realtor, Granada Hills Realtor. Burbank Loan Modification Help, Burbank Short Sales, Burbank Short Sale Realtor, Burbank Realtor. Van Nuys Loan Modification Help, Van Nuys Short Sales, Van Nuys Short Sale Realtor, Van Nuys Realtor.

I was reading about short sales, as I do every Sunday morning on a great site for short sale information Short Sale Superstars. There was a discussion about a Bank of America Short Sale that had been approved, and then denied after the approval, a few days before closing. The reason:

The seller was a real estate broker and the listing agent works for the seller. The buyer used the listing agent to represent her.

Surprise Surprise, B of A said this is not an Arm's Length Transaction and rescinded the approval.

There are multiple things wrong with transaction so let me see if I can organize the problems coherently.

1. All short sales must be an Arm's Length Transaction and an affidavit needs to be signed by all parties saying they are not related to each other in any way. The listing agent works for the seller so that is not arms length.

2. The seller may be offered a closing incentive by the bank, but is not allowed to receive any money from the buyer. Since the buyer is using the the listing agent who works for the seller and would have received commission for the sale, a portion of which would go to the broker, then the seller is getting money from the buyer.

3. Again, since the listing agent works for the seller and would get commission from the sale, a portion of which would go to the broker, the seller would be receiving money from the sale outside of the closing incentive.

4. The buyer has agreed to a dual agency and is entitled to the information that the listing agent works for the seller and that this can cause potential problems with The Arm's Length Transaction.

I do not know if the seller was trying to pull something over on the bank, or if he was just not familiar with short sales but this was totally avoidable.

Buyers: get your own agent to represent you.

Sellers: If you are a broker, get a different company to represent you. If you are an agent, get another agent to represent you, not your broker, and ask the bank if it is ok to be represented by someone else in your campany first, not after you are about to close.

If you have any questions about buying or selling a short sale in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

As the year comes to a close you may be wondering what the foreclosure and short sale market looks like in San Mateo Clara County. In a word, things are pretty quiet. The numbers of sales are down. Here is what it looks like:

Closed sales from June 1,2012 to Dec 26, 2012:  

Bank owned: 259

Short Sales: 509

Compared to the first 6 months of 2012:

Bank owned: 387

Short sales: 462

Current Active Sales:

Bank Owned:  17

Short Sales: 22

Current Pending Sales:

Bank Owned: 44

Short Sales: 310

As you can see there has been a large drop off in REO sales with a slight increase in short sales.

I expect a decrease in both short sales and foreclosures as San Mateo County home values increase, loan modifications increase, and the Homeoner's Bill of Rights takes effect in 2013. As prices increase fewer homeowners are underwater, and the need for short sales and foreclosures decrease. Also, the tax exemption of the debt forgiveness on short sales and foreclosures expires at the end of 2012. This will be a big incentive for homeowners to try to hold on until they are no longer underwater.

If you have any questions about San Mateo County Short Sales or Foreclosures please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

As the year comes to a close you may be wondering what the foreclosure and short sale market looks like in Santa Clara County. In a word, things are pretty quiet. The numbers of sales are down. Here is what it looks like:

Closed sales from June 1,2012 to Dec 26, 2012:  

Bank owned: 579

Short Sales: 1743

Compared to the first 6 months of 2012:

Bank owned: 978

Short sales: 1603

Current Active Sales:

Bank Owned:  33

Short Sales: 76

Current Pending Sales:

Bank Owned: 54

Short Sales: 1044

As you can see there has been a large drop off in REO sales with a slight increase in short sales.

I expect a decrease in both short sales and foreclosures as Santa Clara home values increase, loan modifications increase, and the Homeoner's Bill of Rights takes effect in 2013. As prices increase fewer homeowners are underwater, and the need for short sales and foreclosures decrease. Also, the tax exemption of the debt forgiveness on short sales and foreclosures expires at the end of 2012. This will be a big incentive for homeowners to try to hold on until they are no longer underwater.

If you have any questions about Santa Clara County Short Sales or Foreclosures please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Are you looking for a deal in a Short Sale or Bank Owned home in Santa Clara County? If so, don't bother. The inventory of distressed properties in the county is so low it is not worth doing a specific search for either a short sale or foreclosure. If one comes up in your general area search, go for it, but don't expect to get a deal, because there are so few of them.

Total number of single family homes for sale in Santa Clara County

1045 (historically low number)

Total number of short sales SFR For Sales in Santa Clara County:

65 or 6.2%

Total Number of SFR Foreclosures For Sale in Santa Clara County

18 or 1.7%

Total Number of Condos/Townhomes For Sale in Santa Clara County

233 (historically low number)

Total Number of Short Sale Condos For Sale In Santa Clara County

23 or 9.8%

Total Number of Bank Owned Condos For Sale in Santa Clara County

11 or 4%

Combined Single Family Homes and Condos/Townhomes for Sale in Santa Clara County

1278

Total Number of Single Family Homes and Condos/Townhomes for Sale That Are Short Sales or Bank Owned in Santa Clara County

117

Total Percentage of Short Sales and Bank Owned Homes and Condos/townhomes

In Santa Clara County

9.2%

As you can see the inventory of Santa Clara County Short Sales and Bank Owned properties that are currently for sale is less than 10%. This is not enough to bring the price of homes down in Santa Clara County, and not enough to allow for these homes to sell for less money than any other home in a similar location and condition. So, if one shows up in your search, be prepared for having to work harder to get through the offer and escrow process, but do not expect to to get a bargain.

If you have any questions about Short Sales or Bank Owned Homes in Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

I am so excited about this news! I know, it doesn't take much for me to get excited, but this is really big news in my opinion.

Up until now if you were involved in a Silicon Valley Bank of America Short Sale they did not take electronic signatures. This would have been ok if the bank could sit with you in your conference room and look at the offers. We all know this does not happen and the paperwork will often be faxed several times before B of A gets to see a document. Since they cannot accept illegible documents it made things harder for the participants.

Also, despite the sometime lengthy process of a short sale, Bank of America will often say they need a document now, and not being able to get electronic signatures is sometimes tough.

Now, for any new short sales, you can send all documents with electronic signatures. This makes me very happy. As a Silicon Valley Short Sale Specialist anything that can make a short sale more efficient is ok with me.

So if you have any questions about short sales in San Mateo or Santa Clara Counties please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Great news for people who need to short sell their Blossom Valley

or Silicon Valley home!

If you have a hardship, loss of job, divorce, change in financial circumstance from medical or family issue, etc, you can now be considered for a short sale even if you have not missed a mortgage payment.

Freddie and Fannie will now have the same requirements and procedures, which was not true in the past.

This is great news, especially for people who have a sudden change in their circumstances and can no longer afford their mortgages, but do not want to have their credit ruined in order to be able to sell their home.

So, if you have a change in your circumstances which will change your financial picture, and you want to sell your home without ruining your credit, you may have a way to do this.

Be sure to work with professionals who know what they are doing. In short sales, there is no substitute for experience.

If you have any questions about short sales in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Yesterday I got a call from a client I will never forget. She said "I was able to modify my loan, I can keep my Blossom Valley house, and you were the only one who believed I could do this, so thank you." This made me so incredibly happy.

So what happened was this client and her then husband were pregnant with their first child and ready to buy a home together. They found their dream home in Blossom Valley with my help, purchased it in 2006 with 10% down. In 2007 they had enough appreciation to take out a 2nd loan which they did. In 2010 they had just had their second baby, the home was $250,000 under water, and they split up. 

My client did not want to leave the house and try to find a home for herself, the two young children, and her 2 large dogs. She was determined to stay put, get her husband off title, and not disrupt her children any more than necessary. Her lawyer said short sell, her ex stopped helping to pay the mortgage, and her efforts to refinance went nowhere.

I encouraged her to keep trying and not move her children or her border collies from their dream home and lot.

After 2 years she got her principal reduced by 100K (thanks to First Horizon selling the loan to Nation Star who then was very co-operative in modifying her loan). Her ex signed a quick claim deed (don't know why, but he did), and she was able to pay off the second with savings, stock money, and cutting expenses.

So now she has her home, her kids are not disrupted, and with home prices appreciating she probably even has a good investment. 

While I always like to help out on Blossom Valley short sales, in this case I am much happier that I did not have to.

If you have any questions about short sales in San Mateo or Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

I finally closed a Redwood City short sale that started in Sept of 2011. Yes, one year for a short sale. What was the problem? Let me count down just the top 10.

10. The sellers asked another agent in my office to sell this home as a short sale but this wonderful agent had never listed a short sale before. She asked me to help her, but by the time she did they were 2 weeks from the trustee sale date and the sellers were sitting on a perfectly good offer they thought was too low.

9. There was a first and second loan with Chase as well as a large 3rd loan which was a carry back from the previous owner. The seller wanted me to negotiate with Chase but have her lawyer negotiate with the 3rd lender.

8. The seller refused to give me any of her financial documents and said she would provide them to Chase herself.

7. The first approval came in Dec of 2011 at purchase price with 5K going to the second and 11K going to the 3rd. The seller said the 3rd lender was going to take that offer, but then the lawyer for the seller said the 3rd lender rejected the offer.

6. The buyer offered to give the 3rd lender another 10K. No response from 3rd lender. Chase said the buyer could not pay off third.

5. The approval from Chase expired, the negotiator at Chase left the country, the house was put back on the market asking for a large contribution to the 3rd. Chase said buyer could not pay off 3rd.

4. New buyer came in and offered 30K to the third on top of the old price (515K)

3. New BPO said house is worth 540-560K so Chase said offer is not high enough. Lawyer for seller and seller told me I should start negotiating with the 3rd. He said he wanted 80K from the buyer and 7K from Chase. I get him down to 50K, Chase said submit again.

2.Buyer, Chase, 3rd lender, seller all agreed to purchase price of 562K with 50K going to 3rd from the buyer and no contribution from Chase. Chase inexplicably changed their policy and will now allow the buyer to contribute to the 3rd payoff. Chase said close by Aug 31.

1. Lots of delays getting the loan funded. Aug 29th still no loan docs. Chase said after 10 trustee sale postponements they were done. Close on Aug 31 or they take the house back. Seller was in Europe but managed to come to back last week of Aug to get her things and sign off. Buyers agent got lender to fund without loan docs and we somehow managed to get buyers signed and closed on Aug 31. 

This was a tough one. Most short sales are not this hard, but the secret here was believing that no does not mean no. Not a lesson I would want to teach to my children, but in the short sale world it is a great one.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com``

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

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 period were 8201

Total % Short Sales: 21.7

Total % REO Sales: 13.4%

Total Percentage Santa Clara County Distressed Properties: 35.1%

This is still a significant number in terms of percentages and at this percentage they are bound to have an effect on the overall market.

If you have any questions about short sales or foreclosures in San Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

Beautifully maintained 3bd/2ba Condo in Indian Palms Country Club; Just Listed.  $138,000.  This home is on an end parcel so common areas surround it, making it very private and quiet.  Plus..the Eastern porch is right on the Fairway!  3bd/2ba, built in 1981, with vaulted ceilings and a remodeled kitchen..even includes a single enclosed garage + a covered carport..what a deal!  The kitchen has stainless appliances, including a anew double sink and gorgeous slab granite.  There is a seperate dining room with a wet bar, a family room with sliders to the fairway porch, a large master bedroom with walk in closet and another porch and 2 additional bedrooms for guests.

Indian Palms CC, is off of Monroe Ave. in West Indio, and about 5 minutes from the Polo fields which is why so many equestrians have seasonal homes here.  A public golf course that is  "pay as you play, plus an onsite restaurant, clubhouse and gym if you choose to pay the very low gym membership, and lots of community pools.  One of the best deals in the desert with HOA's of approx. $250/month depending on where your home is.  This covers landscape, trash, insurance and exterior maintenance.

The borrower has only one note with Wells Fargo and was relocated for work, so should be relatively quick.

I list, negotiate and CLOSE my short sales, so there is no third party to deal with in my transactions. 

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, the definition of being underwater. The home is not going to sell for what it is worth, it will sell at or around market value. The bank generally understands that. The bank as representative for the investor on the loan wants to lose as little money as possible, but knows there is going to be some loss.

The banks have procedures in place to approve short sales. At Chase they have the number of people who have to approve a short sale broken down by the amount of loss, not by the value of the house. 

So if the loss is $250,000 or less, only one lowest level of negotiator needs to approve. If the loss is $250,000 to $350,000 the offer goes to the 1st negotiator and then a negotiator one level up. At $350,000-$450,000 it goes to the first 2 plus one level up in management. And so forth.

So the greater the loss the more people have to approve before it even gets to the investor and/or mortgage insurance company. Each person who needs to approve can ask for more documentation or just ok the file. All of this takes time.

The bottom line, the bigger the loss, the more time you should expect for approval and the more doumentation you may need to provide.

So knowing that, don't try to keep up with the Joneses. Just because your best friend's short sale was approved in 3 weeks, and you are still waiting at 8 weeks, it does not mean you got the B team looking at your file. You just may have more managers that have to approve that are gumming up the process.

If you have any questions about short sales in San Mateo or Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

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 home. The incentives can be anywhere from $2500 to $45,000. Not everyone will get this incentive, and there is no uniform way that these incentives will be offered. In other words, Chase is not saying why one borrower gets an incentive and another does not.

So if you get a letter from Chase, open it up. It may say you have won the lottery. You will need to find an experienced Sunnyvale short sale agent to help you sell your home, or Chase will give you the names of some who can help you. You then list your home as a short sale, accept an offer, have it approved by Chase, and at closing you get your relocation assistance.

It is a pretty good deal if you ask me, an experienced Sunnyvale Short Sale Agent.

If you have any questions about short sales in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

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: 20%

Total % REO Sales: 17%

Total Percentage San Mateo County Distressed Properties: 37%

This is still a significant number in terms of percentages and at this percentage they are bound to have an effect on the overall market.

If you have any questions about short sales or foreclosures in San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

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

0 closed short sales

1 closed bank owned homes

Total sales during this time period were 32

Total % Short Sales: 0%

Total % REO Sales: 3.2%

Total Percentage  Portola Valley Distressed Properties: 3.2%

Obviously Portola Valley is not a hotbed of distressed property activity. The one foreclosure was on a small house on Aliso in Ladera which sold for $1,075,000, a great price for that neighborhood. It is however a fabulous place to look for a home if you want a large lot, an incredible community feel, and plenty of local services as well as recreational activities.

If you have any questions about short sales or foreclosures in San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales

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 Sales: 7.1%

Total Percentage  Sunnyvale Distressed Properties: 20%

20% of all Redwood City sales being distressed is enough to still have some effect on the overall market. However, as inventory is still so low unless these homes are truly physically distressed, which is more common with bank owned homes at this level, it probably will not have a long lived effect. It is interesting to see there are almost twice as many short sales as bank owned sales.

If you have any questions about short sales or foreclosures in San Mateo Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

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% of all Redwood City sales being distressed is enough to still haves some effect on the overall market. However, as inventory is still so low unless these homes are truly physically distressed, which is more common with bank owned homes at this level it probably will not have a long lived effect. It is interesting to see there are twice as many short sales as bank owned sales.

If you have any questions about short sales or foreclosures in San Mateo Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194