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(818)276-6882  Lupe Soto  Short Sale Negotiator (hablo espanol)  "NO commission"  por favor sirvase comunicar con Lupe Soto para explicarle como evitar embargo de su casa, condo o de su segunda inversion o renta hipoteca. Gracias.

http://www.ShortSaleAgentLupe.com

AREAS de servicio en San Fernando Valley, Los Angeles County, Ca

Arleta, Burbank, Canoga Park, Calabasas, Chatsworth, Encino, Glendale, Granada Hills, Hidden Hills, Lake Balboa, Lake View Terrace, Mission Hills, North Hollywood, North Hills, Northridge, Panorama City, Pacoima, Porter Ranch, San Fernando, Reseda, Sherman Oaks, Studio City, Sylmar, Sun Valley, Sunland, Shadow Hills, Toluca Lake, Topanga Canyon, Tujunga, Valley Village, Valley Glen, Van Nuys, Universal City, West Hills, Winnetka, Woodland Hills, Hollywood, Hollywood Hills and nearby areas of San Fernando Valley,

Nearby areas in Los Angeles:  Santa Clarita Valley, Palmdale, Lancaster in North Los Angeles California, USA.

Counties:  Los Angeles, San Bernardino County, Ventura County, Orange County, Riverside County.
TIPO DE PROPIEDADES:
Casas, Condos , Townhouses, Duplex, 2 casas en un lote, Unidades en Venta.

I haven't been listing nearly as many short sales this year. There are not as many upside down homeowners here in the Palm Springs Valley, and that's a good thing!  I have also become very saavy about which short sales have the highest percentage for a successful closing.

New La Quinta short sales coming up next week …

1.  North La Quinta single-family home in the highly desirable community of Bella Vista . One of the largest corner lots which also features a family pool and spa.  Seller is being relocated out-of-state for a job.  The note is with CITI mortgage.

2. PGA West champion for condominium on the Arnold Palmer course.  $307,000.   This condo has consistent rental history and has been well maintained.   Seller has moved out of the country and cannot continue with mortgage payments.   One note with OCWEN.

To view all La Quinta and Palm Springs Valley homes, land, or you equestrian properties … 

Palm Springs and the desert cities in general are seeing declining short sale listings.  Not just the numbers in listings, but also the prices have begun to creep up to closer to FMV.  Why?  I suspect there are several things at work here...

1.  We are a resort town.  By that I mean, there are many buyers wishing to own in our winter wonderland and so very few propeties languish on the market. 

2.  The new inventory which was hardest hit..2003-2006 built..have been sold out.  These developments have mostly turned. 

Short Sales have been purchased, refurbished, moved into or resold and have new homeowners.  Equity sales or standard sales are increasingand our inventory is markedly low..all across the valley.  There are still great values to be had if you compare price/sf to what they were in the peak, but those smashing Short Sale values???  Not so much.

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!

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

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

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

Silicon Valley Home Prices are on the rise. Inventory is low, and there are plenty of buyers out there making multiple offers the norm, not the exception. Investors have been a big factor in the market since the crash, but now it may be time for a change if you are an investor.

For the last few years investors were gobbling up foreclosed homes, short sales, and other bargain priced properties. These were often rehabbed and resold quickly. While there was often competition from other investors, it was manageable for many investors.

The landscape has changed. The inventory is so low, and the interest rates are not only low, but loans are a little easier to get than right after the crash. This along with a very high employment rate, and skyrocketing rents, has sent first time home buyers flocking back into the market.

As a result, the chance to buy a home for a low enough price to rehab and resell while making a 30% profit is not working in the investor's favor. It may happen occasionally, but not often.

However, there is still plenty of money to be made investing in real estate. Maybe it is time to look into a buy and hold strategy. It will not make you money overnight, but in the long run will bring in more money than being able to snare the occasional flip.

So if you have $500,000 to spend, why not look for 2-3 homes you can purchase, get a positive cash flow, and sell in 5 years for a great profit if the market has appreciated, or keep holding until your profits are at an acceptable level. With a buy and hold strategy the investor should be looking more at appreciation potential than getting the best price or not buying. It is still number crunching, but the set of numbers being crunched is different.

If you have any questions about buyer or selling investment properties 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

DRE 01191194

www.lehighvalleyshortsalerealtor.com

Carl SanFilippo

(888) 445-8880

Short sales have been helping homeowners dodging foreclosure since the housing market began taking its fall back in 2007. Short sales are becoming popular because of the minimum impact it has on a homeowner’s credit. A foreclosure makes it almost impossible to be qualified for a loan for seven years, while a short sale can recover in as little as two years. Short sales can be a lengthy procedure, but with a short sale specialist helping you, you won’t have to be concerned about negotiating to constant communication with the lender. The service of a short sale specialist is free to the homeowner and is just another plus to opting for a short sale.

Short sales provide incentives to the qualifying homeowner to help with relocation fees. The Home Affordable Foreclosure Alternative government program will offer $ 3,000 cash back after the short sale. A short sale can also be an advantage to the lender by helping them to avoid a costly foreclosure; the lender understands their loss with a short sale, but also comes to grips with their gain of avoiding foreclosure.

The short sale process can be long and tedious, but upon completion, it will show its true benefits. Depending upon the state, and whether the short sale was a traditional short sale or the HAFA short sale, a homeowner will be relieved of the deficiency after the short sale; meaning you will not be held accountable for paying the difference. With a foreclosure, you will be addressed with fees and many years of “foreclosure” lingering to your credit.

With the housing market still trying bounce back, buyers are still seeking after a good deal and homes being sold as short sales could be the deal they are wanting. Sometimes various buyers can come and go during a seller’s short sale, but that is why it is important to have a competent short sale specialist from the beginning, ensuring that your house is “buyer friendly” and all of the requirements asked by your lender are met.

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

263 closed short sales

104 closed bank owned homes

Total sales during this time period were 626

Total % Short Sales: 42%

Total % REO Sales: 16.6%

Total Percentage  Blossom Valley Distressed Properties: 58.6%

58.6% of all Blossom Valley sales being distressed is enough to still have major 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, many homes will get multiple offers and the values should increase this year. It is interesting to see there are over two and half times as many short sales as bank owned sales which has also happened in other cities. This area is great for investors with a lot more activity than in some areas like East Palo Alto or Belle Haven.

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

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

marcy@marcymoyer.com

www.marcymoyer.com

650-619-9285

D.R.E.  01191194

Blossom Valley is a hot bed of short sales. It is one of the neighborhoods in the Silicon Valley that has not gone back to the values of 2007-2008. So many of the homes for sale right now are being sold as short sales since the owners have negative equity in their homes.

There are currently 196 pending homes listed as short sales.

There are 286 pending sales of all types.

The percentage of total pending sales which are short sales is 68%.

This is pretty impressive, but the big question is how did this happen?

I have a few theories.

Blossom Valley had some remarkable levels of appreciation early in the century, especially between 2005-2007. There are a number of reasons.

1. Easy money

2. Easy access to downtown San Jose which had ambitious plans for redevelopment

3. Good schools. At one point there were sections of Blossom Valley where you could get a home in a school district with a high API for less than any other neighborhood in Silicon Valley.

4. High tech companies close by including IBM right in the neighborhood.

Then the market crashed, credit tightened, San Jose gave up their redevelopment plans, major employment areas kept moving north to Mountain View, Palo Alto, and San Francisco, and Blossom Valley values plummeted in 2008-2009.

We are on the way up again, but many homeowners are still underwater. The inventory is now quite low. There are only 61 homes for sale right now, and 13 are short sales, or 21%.

If you are a seller, your home will sell, and quickly. If you are a buyer, there is a lot of competition, but the values are there.

If you have any questions about buying or selling 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

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 rates.

Short sales can still be time consuming and frustrating, but when there are so few choices for buyers they begin to look better. So if you are thinking of selling your home as a short sale here are some tips to make things smoother.

1. PICK AN EXPERIENCED SHORT SALE AGENT TO LIST YOUR HOME. IF YOU ALREADY HAVE A RELATIONSHIP WITH A REALTOR WHO IS NOT EXPERIENCED WITH SHORT SALES ASK THAT AGENT TO CO LIST WITH AN AGENT WHO KNOWS HOW TO PROCESS AND NEGOTIATE A SHORT SALE.

2. Price your home realistically, not at a rock bottom price. The market is already hot and and appreciating. Banks are not stupid. If the home is worth $600,000 and you list it for $400,000 and get an offer for $500,000 it is unlikely to get approved.

3. Have the buyer put the deposit in escrow upon acceptance by you, not at acceptance by the bank. 

4. If possible get inspections before you put the home on the market. It will make the transaction go much smoother.

5. Talk to your lender before putting the house on the market. find out what they need for the short sale and get it ready to send as soon as you get the accepted offer.

6. Enjoy your short burst of popularity. In this market everyone loves a seller, even a seller of a short sale, so enjoy.

7. Hopefully in 2-4 months you will hear the words from your agent, "Congratulations, you are off the hook."

If you have any questions about buying or selling a short sale 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

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. The San Jose inventory for small affordable condos is quite low. Accepted an offer 30% over asking price, cash, with no appraisal contingency. Asking price was market value at the time of the listing. Last 2 sales in the complex were within 5K of listing price.

6 weeks later get approval from Chase but buyer, who was an investor, dropped out.

I start to worry because none of the other 12 offers were over 10% over list price and I am afraid Chase (or actually Freddie) will want more since first offer was so high.

Submit a back up offer for 10% over list price, cash with no contingencies. 4 weeks later get approval.

Everyone is happy!!!

So fortunately the first offer which was so high did not taint the the process, and since there was no foreclosure date set there was not a danger of losing the condo to a foreclosure. But this is a risk in short sales in the Silicon Valley. The inventory is low. There are many investors and first time buyers in the market competing with each other. Sometimes people make ridiculous offers which they later regret.

How do you know what is the best offer? Is it the highest, is it the owner who wants this home more than anything, is it the person who puts the most money in escrow, has the least contingencies?

This is a complicated question that deserves its own blog. But my best advice to sellers of short sales is start by picking an experienced agent who knows how to analyze offers from a short sale perspective. This is not the same as a traditonal sale perspective. And understand that sometimes things go south, so be prepared for some bumps in the road to finally get to the magic words:

Congratulations: You are off the hook!

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

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:            104

Distressed sales as a percentage of total sales:  29%

My conclusion:

The percentage of distressed properties in Cambrian is higher in 2011 over 2010. Also a 34% distressed property sale percentage is absolutely probably not enough to affect values. What is interesting is the the number of short sales in 2011 went up as the number of REOs went down from 2010 as banks have been more wiiling to approve short sales. This is being seen all over the bay area.

If you have any questions about short sales or bank owned homes 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 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 total sales:  15.1%

My conclusion:

The percentage of distressed properties in Los Gatos is virtually the same  between 2011 and 2010. Also a 15% distressed property sale percentage is absolutely probably not enough to affect values. What is interesting is the the number of short sales in 2011 went up as the number of REOs went down from 2010 as banks have been more wiiling to approve short sales.

If you have any questions about short sales or bank owned homes 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 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 total sales:  50.1%

My conclusion:

The percentage of distressed properties in Milpitas is virtually the same  between 2011 and 2010. Also a 50% distressed property sale percentage is absolutely large enough to affect values. What is interesting is the the number of short sales in 2011 went up as the number of REOs went down from 2010 as banks have been more wiiling to approve short sales.

If you have any questions about short sales or bank owned homes 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 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 over 10 offers. 

If you are a seller you may be trying to acomplish a short sale, and life becomes complicated with all of the details of supplying documents, giving the bank what they want, when they want it, and living by their timelines.

Maybe you are trying to buy an reo and you have to sign documents that make you do everything short of giving up your first born.

So the big question is "Do you want to buy a sell a house right now?" If then answer is yes then you need to listen to the person saying "because I said so." Whether that person is the listing agent for a home you want to buy, the bank who needs to approve your short sale, or the bank who owns the foreclosed property you want.

Follow directions, exactly. If the directions say fill out the disclosure package completely, fill it out. If Bank of America says they want the first 5 numbers of your social if you are trying to buy a short sale then give it.

This is not an environment for everyone, and it will not last forever, nothing does. But if you want to buy right now it is best not to have issues with authority, just do what is asked of you. This is not to say that you should go into this blindly or give up your inspection rights, but it does mean you need to follow directions and do what is asked of you.

If you are selling short, do what the bank wants. You have the right to accept or reject their their conditions but you do not get to tell them what they need to do.

If you are selling in a hot market and it is a sale with equity, don't be a bully. Give clear directions and be grateful for the people who want to buy your home.

If you have any questions about buying or selling a home in Silicon Valley please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194