Last week, I was visiting my sister and a very close family friend lives across the street from her. I have known this family since I was born – in fact, our parents and grandparents were close friends!   The grandchildren live in the home now – but they just lost it to foreclosure.  It was heartbreaking.

The sheriff came just a few days before and they had all their dogs (3) and belongings in the driveway, ready for the moving truck.  When I approached them to chat it was then I found out what was happening.  I asked why they didn’t seek me out for help before it got to this point, and their answer was, “We didn’t know you were an agent.”

I never want that to happen again.  Even though they had received plenty of solicitation from other agents who found them on the default list, they didn’t feel comfortable using them and chose to do nothing.   The bad thing is, they probably had some equity and could have sold the home quickly as a traditional sale in this market.  Selling on your own terms is definitely a better choice that having to move abruptly and losing the home to foreclosure.

If you, or someone you know, owe more on your property than what it is worth and don’t know what to do, contact me to learn your options!  You can email or call, heck send a carrier pigeon.   Just don’t sit there and do nothing thinking it will go away, because it won’t.   If we can’t find a way to keep you in the home, great.  If not, then a short sale is a far better option than losing it.

The banks are willing to accept less than what is owed on a property these days, and will even give the borrower/tenants funds to assist them in leaving with dignity and obtaining a fresh start.

To find out more – please visit my short sale information page.

The best way to find a Short Sale Realtor .

It's easy to discover a realtor...There everywhere... Here are my suggestions on what you have a look for in a Licensed California Realtor. Confirm they are Licensed!

 The Realtor has CLOSED at least Twenty short sale transactions. Not just listed. I'm seeing folks lose there houses everyday because they employed an inexperienced agent.

The way I see it... I'm the one that you hire to help you avoid foreclosure. At some particular point you and I are going to sit across from one another and sign the paperwork that enables me to market your home. Therefore it's my responsibility to help you through this. Not pass it off to some company so I can just try to get a few more listings

 The realtor should Market the property on the Multiple Listing Service. They do not work with investors unless the property is in actually poor condition and normal financing can't be obtained.

They've got a lawyer for you to check with if necessary.

Do not work with the guy / girl the bank has recommended to handle your short sale. That agents ultimate aim is to get more listings from that lender. They could server you up on a silver platter. What i mean by that is...sometimes a short sale isn't in your best interest....maybe  Bankruptcy is easier when you still have the house not after its already been sold. Not to say each agent would be that way.... You only need to be cautions.

7 ) The agent is familiar with the area and a member of the local board of Realtors.

Eric Baskett

310-261-8511

http://www.ericbaskett.com/category/short-sales/

Keller Williams Realty

DRE Lic # 01446685

Some of the main cities I service short sales in are Redondo Beach, Torrance, Gardena, Lomita, San Pedro, Lawndale, Palos Verdes, and Manhattan Beach.

How to Find a Short Sale Realtor

How to Find a Short Sale Realtor  How to Find a Short Sale Realtor in Torrance How to Find a Short Sale Realtor in Redondo Beach How to Find a Short Sale Realtor in Manhattan Beach

This La Quinta Short Sale was not a slam dunk.  Two notes with different Lenders, but still CLOSED in approx. 95 days.  I don't just list my Short Sales..I CLOSE them. 

81375 National Dr.  La Quinta, California   PGA West

First note with B of A:  Approx. Value of 1.4 million

Second note with Chase (HELOC):  Approx. value $250,000.

Negotiated Sales Price:  $925,000 with $8500 going to Chase.  Both lienholders released their right to pursue for deficiencies. 

Sounds low, right?  But this is a very Fair Market Value for this lovely home.  Norman Estates in PGA West is a gorgeous neighborhood that was built between 2004-2006.  I was the onsite Sales Manager and sold all 58 homes.  Truly gorgeous homes..but they have dropped tremendously in value.  I remember drive by appraisals when I was sitting in the Sales office.  The Appraisers didn't even come in to get keys to homes..rather they did "drive bys" and submitted their appraisals and that same home that I had just closed at $850,000 was now worth $1,150,000!!!  I was stunned and also forwarned of what was to come.  That was the start of my Short Sale education nearly 5 years ago. 

I don't just list my Short Sales...I CLOSE them!  If you are underwater on your mortgage in the Palm Springs Valley..La Quinta, Palm Desert, Indian Wells, Rancho Mirage or Palm Springs, give me a call for your FREE consultation.

https://www.youtube.com/watch?v=KqMxoNoy_hQ&feature=player_embedded

Are you in pre-foreclosure or can foresee yourself in foreclosure status in the near future? You are not alone my friend. There are government sponsored HUD counselors available for you in your area who can help you explore your options and choose the best one for your particular situation. Do this immediately as waiting may be consequential to your situation.

However, one option that HUD counselors may not discuss with you but is worth exploring if you are in pre-foreclosure is the “Produce The Note” strategy.

A few conventional options to stop foreclosure and stay in the home would be a refinance, modification, and a forbearance plan. The two popular exit strategies to avoid foreclosure would be a deed-in-lieu or the popular option, a short sale. Your HUD counselor should explain all of these options to you and recommend a particular plan depending on your specific financial situation.

One strategy to delay foreclosure which is not known or often discussed is the “Produce The Note” strategy. What this strategy entails is, the homeowner, whose home is in a foreclosure process, asks their banks to produce the original loan documentation when they purchased the home. It’s quite simple but surprisingly, a high number of banks are not able to come up with this information thus homeowners can delay banks from foreclosing on their property. There are no guarantees for this strategy as they may be able to “produce the note” but it is certainly worth giving it a try.

By using this strategy, some homeowners were able to stall their foreclosure process for years but keep in mind that delaying is not necessarily solving the problem. Choosing a short sale for your home will help you recover your financial situation much sooner than waiting and simply enjoying the free rent. A wise decision would be to exit the property on good terms with your current lender so you can have the chance to purchase a new home with your next lender who is able to see how you performed with your previous home mortgage.

Have you heard of the produce the note strategy? I would love to know what you have heard about the idea.

Peter

My reservations about B of A's COOP short sale program may be easing here in Palm Springs Valley of California.  The only drawback I could see was that the appraisals kept coming in over market, and that dragged out the Listing time.  However, there are reductions scheduled for every 21 days so with this Short Sale without an offer, it seemed a perfect fit.

It took about 3 weeks for B of A to do their BPO, and assign a Listing Number to the property.  I had a number in my head that I knew would generate activity, and the number I got last week was actually approx. $3,000 LOWER than my number!  Great..off to a solid start.

I listed the Condo at Palm Lake in Palm Desert at 5:30 a.m., and had a cash offer by 5 pm..and the cash offer is about $2,000 OVER their List Price.  So, in this case, it was the correct number.

I have uploaded everything to Equator and my contact tells me they will review it early next week and let me know if we are golden to open Escrow and proceed to close.

The lower price points seem to be easier for the Investors to assign numbers to.  As you move up in values, their suggesst list prices get a little skewed, but that's to be expected I guess because not as many are SOLD!

Oh..best part?  The Condo is selling for approx. $52,000 and B of A is allowing $5,000 relocation fees to the Seller!  She's thrilled since she has lost a ton of money from what she paid in 2007. 

Choose an experienced Short Sale List Agent.  Certified, and experienced with lots of different Lenders..references provided upon request.  FREE consultations on your many options..760-285-3578.

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.

Call Carl SanFilippo (888) 445-8880 for a FREE AND CONFIDENTIAL phone consultation.

Short Sale Versus Foreclosure – which should I do?

Getting fired from your job usually means the power source of income is cut off, and being of the first things to get sidelined when this occurs are mortgage payments. Paying for a house to live in might come off to be a little costly especially if you can just opt to rent an apartment. While it is easier to just walk away from your monthly mortgage payments and let the bank take your home, you might want to consider the route of a short sale. So, what is the dissimilarity in the advantages of a short sale VS a foreclosure?

Benefits of a Short-sale – doing something about it

A short sale home specialist describes a short-sale as the lesser of the two evils. If you are concerned on how to Short Sale a home, then the first thing you need to be informed of is that it enables you tons of options that foreclosure doesn’t provide you, such as

• Leave when you want to leave – opting a short sale grants you the ability to stay in your home longer, as the bank will give you notice when the short sale deal is approved for close. A short sale waiting period can go on for up to 2 to 3 months.

• A clean slate –generally while your personal credit and bank records are your own responsibility, a short sale does not impact your credit in the same way as a foreclosure. That means you can do a lot of things that you wouldn’t have the ability to do if you had a foreclosure showing up on your credit. Not only mentioning a clean slate, but on top of this and upon a successful completion of your short sale you may qualify for the HAFA Program. A program that could offer up to $ 3,000.00 CASH BACK towards your relocation! A borrower can be worthy of purchasing a property in only two years after a foreclosure.

• Control over the price – in opposition to foreclosures, short-sales give you the ability to control the price of the sale due to the fact that you still altogether own your home as the bank has not seized ownership of it yet. Granted, short-sale prices are still a lot lower at market value than the property value, but you’d much rather be selling at a loss than letting the bank do all the selling for you. Even though the bank must have the final say so in a short sale offer, prices generally are higher than foreclosed homes. This will do your neighbors a favor by helping to preserve community property values.

Benefits of a Foreclosure – the art of walking away

Foreclosure is the easy way out. Basically, foreclosure is simply turning your back on your property until the bank decides to foreclose on it. This is a little known fact, but foreclosure potentially could be the worst thing that you can do. Contemplate it – after the bank forces you to turn over your property, they get to clean it up, put it on sale for a reduced price and whoever gets the property will either: (a) renovate it and try to sell it at a very high premium; (b) sell it as being and the seller can still get a respectable profit out of it or; (c) whomever gets the property can just live in it, still getting the better end of the deal because of the bargain price that he or she bought it for.

Foreclosed properties can sell pretty rapidly as compared to a short sale. While this sounds pretty good on paper, remember that it is the bank that already owns the foreclosed property, they are the ones who profit the most from a fast transaction, so please, take this time to read further into abstaining or preventing foreclosure.

Also, while it may seem really easy to just walk away from your property and let the bank acquire it, you may want to acknowledge the following consequences:

• Waiting period before you can buy – records of foreclosure can affect even the period when you can purchase your next home. Generally speaking, banks select more responsible and trustworthy people without any sort of negative records to approve a home loan application. The current waiting timeframe for anybody to be granted by a bank or an institution to mortgage a home again is 5 years most likely. In addition, do you think a bank will let you purchase a home if records show that you already failed in maintaining a previous mortgage?

• A foreclosure record can leave a lasting impression – records of a previously foreclosed property may appear on your personal credit for up to 7 years. That is a lot of time to consider especially if you want to apply for something that is bank or credit related in the upcoming seven years. While most people will believe that they wouldn’t mind this kind of record because they are not planning on doing anything bank related, consider this: any type of foreclosed property records can severely affect your job applications. Why? Some employers look at your credit background to see if you are responsible in your credit, and a foreclosure blemish may cause them to conclude that you are delinquent if you have a foreclosure on your record.

• It shows up on your credit records – managing your credit rating and record should by far be more critical than anything else you should contemplate before taking the easy way out. It is noted that your credit rating can plunge as low as 160 to 105 points depending on the manner of foreclosure or on your credit history. This is especially important to consider if you have an active business or you are looking into bank loans for business or other concerns. A foreclosure can at times be read as a severe negligence on the part of the person. It is important to note that banks do not consider any type of personal issues that is on your plate during the time of foreclosure: it’s either your payments are made on time or they are not.

• It affects your loan applications – similar to most of the reasons above: why would you think any bank will give you a loan if your records reveal that you had trouble paying for one before? Even if the intention might be very different from that of a home purchase, like a school loan, car loan or business loan, it is still the same thing.

• You get evicted immediately – unlike if you put your home up for a short sale; eviction usually is very quick if your property is being foreclosed on. Generally, a notice period of 30 days is given to the person with a foreclosed property, but any other extensions might not be considered by the lending institution, person with a foreclosed property, but any other extensions might not be considered by the lending institution.

So, which is the better option? A short sale or a foreclosure?

Deciding a short sale over foreclosure may be the best option by far. The mere fact that you have control over the price and the time when you can sell your home is a better alternative than being forced to hand over your house and being ordered to leave the premises as soon as possible.

While it is ultimately up to the person to choose either a short sale or a foreclosure, what is substantial is that options are weighed first and think of how it may affect your ability to buy a home in the future and affect your credit rating. Researching is a job well done. Now, your next step is to contact one of our highly trained Short Sale Specialists, so they can get your short sale on started and successfully completed!

Carl SanFilippo

Nj Short Sale Agent

www.njshortsalesspecialist.com

Reverse Mortgage Short Sale

Short Sale Opposed To Foreclosure

Short Sale Versus Foreclosure – which should I do?

Getting fired from your job usually means the power source of income is cut off, and being of the first things to get sidelined when this occurs are mortgage payments. Paying for a house to live in might come off to be a little costly especially if you can just opt to rent an apartment. While it is easier to just walk away from your monthly mortgage payments and let the bank take your home, you might want to consider the route of a short sale. So, what is the dissimilarity in the advantages of a short sale VS a foreclosure?

Benefits of a Short-sale – doing something about it

A short sale home specialist describes a short-sale as the lesser of the two evils. If you are concerned on how to Short Sale a home, then the first thing you need to be informed of is that it enables you tons of options that foreclosure doesn’t provide you, such as

• Leave when you want to leave – opting a short sale grants you the ability to stay in your home longer, as the bank will give you notice when the short sale deal is approved for close. A short sale waiting period can go on for up to 2 to 3 months.

• A clean slate –generally while your personal credit and bank records are your own responsibility, a short sale does not impact your credit in the same way as a foreclosure. That means you can do a lot of things that you wouldn’t have the ability to do if you had a foreclosure showing up on your credit. Not only mentioning a clean slate, but on top of this and upon a successful completion of your short sale you may qualify for the HAFA Program. A program that could offer up to $ 3,000.00 CASH BACK towards your relocation! A borrower can be worthy of purchasing a property in only two years after a foreclosure.

• Control over the price – in opposition to foreclosures, short-sales give you the ability to control the price of the sale due to the fact that you still altogether own your home as the bank has not seized ownership of it yet. Granted, short-sale prices are still a lot lower at market value than the property value, but you’d much rather be selling at a loss than letting the bank do all the selling for you. Even though the bank must have the final say so in a short sale offer, prices generally are higher than foreclosed homes. This will do your neighbors a favor by helping to preserve community property values.

Benefits of a Foreclosure – the art of walking away

Foreclosure is the easy way out. Basically, foreclosure is simply turning your back on your property until the bank decides to foreclose on it. This is a little known fact, but foreclosure potentially could be the worst thing that you can do. Contemplate it – after the bank forces you to turn over your property, they get to clean it up, put it on sale for a reduced price and whoever gets the property will either: (a) renovate it and try to sell it at a very high premium; (b) sell it as being and the seller can still get a respectable profit out of it or; (c) whomever gets the property can just live in it, still getting the better end of the deal because of the bargain price that he or she bought it for.

Foreclosed properties can sell pretty rapidly as compared to a short sale. While this sounds pretty good on paper, remember that it is the bank that already owns the foreclosed property, they are the ones who profit the most from a fast transaction, so please, take this time to read further into abstaining or preventing foreclosure.

Also, while it may seem really easy to just walk away from your property and let the bank acquire it, you may want to acknowledge the following consequences:

• Waiting period before you can buy – records of foreclosure can affect even the period when you can purchase your next home. Generally speaking, banks select more responsible and trustworthy people without any sort of negative records to approve a home loan application. The current waiting timeframe for anybody to be granted by a bank or an institution to mortgage a home again is 5 years most likely. In addition, do you think a bank will let you purchase a home if records show that you already failed in maintaining a previous mortgage?

• A foreclosure record can leave a lasting impression – records of a previously foreclosed property may appear on your personal credit for up to 7 years. That is a lot of time to consider especially if you want to apply for something that is bank or credit related in the upcoming seven years. While most people will believe that they wouldn’t mind this kind of record because they are not planning on doing anything bank related, consider this: any type of foreclosed property records can severely affect your job applications. Why? Some employers look at your credit background to see if you are responsible in your credit, and a foreclosure blemish may cause them to conclude that you are delinquent if you have a foreclosure on your record.

• It shows up on your credit records – managing your credit rating and record should by far be more critical than anything else you should contemplate before taking the easy way out. It is noted that your credit rating can plunge as low as 160 to 105 points depending on the manner of foreclosure or on your credit history. This is especially important to consider if you have an active business or you are looking into bank loans for business or other concerns. A foreclosure can at times be read as a severe negligence on the part of the person. It is important to note that banks do not consider any type of personal issues that is on your plate during the time of foreclosure: it’s either your payments are made on time or they are not.

• It affects your loan applications – similar to most of the reasons above: why would you think any bank will give you a loan if your records reveal that you had trouble paying for one before? Even if the intention might be very different from that of a home purchase, like a school loan, car loan or business loan, it is still the same thing.

• You get evicted immediately – unlike if you put your home up for a short sale; eviction usually is very quick if your property is being foreclosed on. Generally, a notice period of 30 days is given to the person with a foreclosed property, but any other extensions might not be considered by the lending institution, person with a foreclosed property, but any other extensions might not be considered by the lending institution.

So, which is the better option? A short sale or a foreclosure?

Deciding a short sale over foreclosure may be the best option by far. The mere fact that you have control over the price and the time when you can sell your home is a better alternative than being forced to hand over your house and being ordered to leave the premises as soon as possible.

While it is ultimately up to the person to choose either a short sale or a foreclosure, what is substantial is that options are weighed first and think of how it may affect your ability to buy a home in the future and affect your credit rating. Researching is a job well done. Now, your next step is to contact one of our highly trained Short Sale Specialists, so they can get your short sale on started and successfully completed!

www.njshortsalesspecialist.co,

When the time comes near to close on an existing approval letter, the terms of the new offer must correspond with the offer that was approved already, and the buyer must close by the date in the short sale approval letter or an extension may be mandatory. The short sale approval process may perplex some people but with the help of an experienced agent, the short sale process should be somewhat of a smooth process.
A lot of people become bewildered when they see the phrase “approved short sale”. The short sale process can be challenging so it is easy to not understand the entire lingo that can be involved. Banks usually do not approve a short sale until an offer from a buyer has been received to the bank. The typical way a short sale can be approved is for the buyer to give an offer and get the offer approved.
The way the short sale approval process works is that the agent will list the short sale, the seller will give the agent the documents required that the lender has asked for, the buyer will then submit an offer. The listing agent will send in the short sale package, the accepted offer and a HUD to the lender, while the buyer waits a possible four months. Once the short sale approval letter is received by the agent, the agent will contact the buyer’s agent to present the news. Then the buyer’s agent informs the listing agent that the buyer has bought something else, which results in a cancelation. The buyer then cancels the transactions while the listing agent is not happy with the buyer’s agent, but will then put the home back on the market as an approved short sale.
Reasons that a buyer might cancel an approved short sale may be that the home may need too many repairs, or the appraisal came in to low, or the buyer does not qualify for the loan. When a new buyer is brought into the picture, they will generally have to match the exact terms of the short sale approval letter.

NEW JERSEY SHORT SALE AGENT

Cute as a button, remodeled, 1bd/1ba Condo coming up at Palm Lakes in Palm Desert, CA. This short sale is a COOP short sale with B of A. That means that the List Price has already been approved by the bank and the close will be quicker than with a standard short sale.

Palm Lakes is a gated community of Condos offering a clubhouse, 2 tennis courts, community pool and lots of lush, green common areas..all for $225/month HOA fees. This particular unit is in a great location on the second floor with a balcony that overlooks the lake and community pool and to the Southern mountains. Lots of light!

Seller has remodeled the bathroom with custom tile in the shower and a new cabinet/sink. The kitchen also has been remodeled with new cabinets, a granite kitchen eat bar and includes a gas stove and dishwasher. The condo has an interior laundry area and is all freshly painted. The bedroom has 2 closets, one with extensive built-ins and the other with a deks/office area in it.

The Condo has also had extensive upgraded lighting installed. Just really a nice unit. Great for a seasonal visitor, investment, or a college student that wants to live close to campus.

Should get my List Price today and get it active. It originally sold for $185,000 in 2007 and I expect the List Price to be approx. $65,000..unbelievable, right???

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

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

3 closed short sales

3 closed bank owned homes

Total sales during this time period were 192

Total % Short Sales: 1.5%

Total % REO Sales: 1.5 %

Total Percentage  Los Altos Distressed Properties: 3%

Again, we have a high priced neighborhood and almost no distressed property sales. Values are appreciating and there are more pople trying to buy homes than there are homes available. Additionally, there is very little new contruction before the crash, so there is not a big group of people who bought into a large development and are now underwater.

If you have any questions about short sales or foreclosures in 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

In Los Altos Hills from Jan 1, 2012 until June 30, 2012 there were:

1 closed short sales

0 closed bank owned homes

Total sales during this time period were 45

Total % Short Sales: 2.2%

Total % REO Sales: 0%

Total Percentage  Los Altos Hills Distressed Properties: 2.2%

The low number of distressed property sales in Los Altos Hills is consistant with the other high prices neighborhoods in Silicon Valley. These areas are showing strong sales, good appreciation, and plenty of buyers with enough cash and income to purchase. Compared to the same time period in 2011 there were 2 closed short sales and 5 foreclosures with 52 sales for a total of 13.5% sales being distressed. 2012 is definatley different.

If you have any questions about short sales or foreclosures in 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

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REGrow, LLC and www.ShortSaleSuperstars.com does not necessarily endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. REGrow, LLC takes no responsibility for the content on these pages that are written by the members of this community.

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This short sale was a bit involved, but I received final approval yesterday on the B of A first lien.  I already have the approval for the Chase HELOC, so we are into Escrow and roaring to a close.  Interesting how I waited weeks for that final Investor approval, (after accepting their counter), and once it came through, they gave us..wait-are you ready????  8 days total to CLOSE!  And that counts 2 days over the weekend..eeeekkkk!

I will, of course, try to extend the close and normally, they are good about that.  It's a cash purchase, but even so..who can close on an Equity Sale in 8 working days???  Never say die, dig in, and stay focused..we're off!

Short Sale Specifics:

81-375 National Dr.  La Quinta, CA.  Listed mid-May for $1,200,000.

First Note:  B of A  PML in the amount of approx. $1,400,000

Second Note:  Chase HELOC in the amount of approx. $250,000

Sales Price:  $925,000 with $8,500 being paid to the second.  All deficiencies cancelled. 

This home was not a "steal."  It is a good value for the home, and although seems hard to believe, the neighborhood it is in, Norman Estates, supports this sales price.  These homes were built in 2004-2005, and consequently the 58 home neighborhood has been hit extremely hard by the housing market decline.

Listed to Close in approximately 90 days..another successful Short Sale transaction by your Palm Springs Valley shortsale specialist.  Give me a call for a FREE property consultation!  No obligations, no strings attached, just FREE information that might help you sort out what's best for your particular situation.

CALL LEHIGH VALLEY SHORT SALE SPECIALIST CARL SANFILIPPO (888) 445-8880 FOR A FREE PHONE CONSULTATION!

A good Lehigh Valley short sale agent will maintain consistent contact with you and your lender making sure that everyone is still in the loop about the short sale process on account that they have been known to take some time to complete. Honesty with your agent going a long way, and could potentially help your short sale process speed up and get you back on track and on with your life far sooner than a foreclosure would do.

When you have chosen your short sale Realtor in Lehigh Valley, you should have by now obtained some trust in them. Your short sale agent will be representing you in your short sale, in addition to handling all negotiations on your behalf; so it only makes sense to be fully honest with them about everything and never feel afraid to ask questions.

The more surprises your Realtor comes in contact with, there will be more of a probability of a delay or rejection. Upon meeting your Realtor and discussing important information about your hardship, remember they are there for you, there services are free for you, take advantage of that and let someone help you get through your tough time.

Your agent will first need to be informed on how many liens you may have against the property and the amount of banks are involved. It is also important to let your Realtor know if you have been making your Homeowner association dues. Examples of liens may include mechanic’s liens, IRS tax liens, Child Support judgment, etc.

The more liens that are opposed to the property, the more difficult it is to close a short sale successfully. Your short sale specialist will also need to know the names and numbers of the banks on your mortgage, the amount of your monthly payments and how much you owe on the home.

CALL LEHIGH VALLEY SHORT SALE AGENT CARL SANFILIPPO (888) 445-8880 FOR A FREE PHONE CONSULTATION.

A good Lehigh Valley short sale agent will maintain consistent contact with you and your lender making sure that everyone is still in the loop about the short sale process on account that they have been known to take some time to complete. Honesty with your agent going a long way, and could potentially help your short sale process speed up and get you back on track and on with your life far sooner than a foreclosure would do.

When you have chosen your short sale Realtor in Lehigh Valley, you should have by now obtained some trust in them. Your short sale agent will be representing you in your short sale, in addition to handling all negotiations on your behalf; so it only makes sense to be fully honest with them about everything and never feel afraid to ask questions.

The more surprises your Realtor comes in contact with, there will be more of a probability of a delay or rejection. Upon meeting your Realtor and discussing important information about your hardship, remember they are there for you, there services are free for you, take advantage of that and let someone help you get through your tough time.

Your agent will first need to be informed on how many liens you may have against the property and the amount of banks are involved. It is also important to let your Realtor know if you have been making your Homeowner association dues. Examples of liens may include mechanic’s liens, IRS tax liens, Child Support judgment, etc.

The more liens that are opposed to the property, the more difficult it is to close a short sale successfully. Your short sale specialist will also need to know the names and numbers of the banks on your mortgage, the amount of your monthly payments and how much you owe on the home.

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

3 closed short sales

4 closed bank owned homes

Total sales during this time period were 51

Total % Short Sales: 5.8%

Total % REO Sales: 7.8%

Total Percentage  Woodside Distressed Properties: 13.6%

These numbers do not tell the whole story. 3 of the 4 foreslosures and 2 of the 3 short sales were in the Skyline area which is always a harder sell than closer to town, so given that information again, there are almost no distressed property sales in Woodside. There are currently 47 active listings in Woodside, about the same number as in Palo Alto, but without the incredible competition for homes like in the Palo Alto market. Maybe it is worth giving Woodside a look if you are having trouble finding what you want in Palo Alto.

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