Understanding the Housing Market

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Real Estate Broker/Owner - Move Up Properties - CA BRE Lic 01193694
Survived the mortgage meltdown and live to teach others how to buy and sell in Southern California's "move up" real estate market.
RECENT BLOG POSTS
California First Time Buyer Tax Credit vs. Federal First Time Buyer Tax Credit.  Just a quick question based on a buyer's view of the upcoming changes in the California State Tax Credit vs. the current Federal Tax Credit.  My buyers opted to cancel their newly created escrow due to their belief t...
04/05/2010
I wanted to follow up on my recent post regarding Promissory Notes required in order to facilitate short sale approvals. I took a short sale listing in February 2009 on a condo with one purchase money loan at a 97% LTV.  The condo was purchased for $325,000 in 2007.  I have a transaction going wi...
03/25/2010
  I need some help with this one.  I have a new client looking to short sale his home.  I've dealt with many, many different banks and have some good contacts with most of them.  However, U.S. Bank is one that I have not dealt with yet and cannot find a local colleague who has either.  My client ...
03/22/2010
  I have been closing several short sales the past few months (finally).  In every single transaction the commission is reduced to 5%.  I've been successful in my negotiations for my clients on every deal (so far) but I am not making any progress on securing the commission to what the seller agre...
03/13/2010
Question:  I checked my refinance loan application (I refinanced to consolidate both mortgages into one when the house price was high), trying to find "The Note" to see whether it's a recourse or non-recourse, but I don't seem able to find any term that I can relate to recourse or non-recourse. ...
03/04/2010
  According to HAFA (Home Affordable Foreclosure Alternatives) program slated to take effect April 5, 2010, lenders MUST first evaluate/advise homeowners on HAMP (Home Affordable Modification Program) loan modification programs prior to any consideration of eligibility of the HAFA short sale opti...
02/27/2010
Here is a true copy of a promissory note I received from Aurora Home Loans in exchange for a short sale approval for my client.  She did not sign it and that negotiation fell through.  We are up for another approval any day and Aurora has sent the file to the MI company again for final approval. ...
02/05/2010
One bad apple won’t spoil the whole tree, will it? Buyers need to take time to read this story to help them understand that Realtors are people too. I received an email about a month and a half ago from a gentleman who we will call “Alan” stating that he has been mistreated by many real estate a...
01/24/2010
Question: Should You Choose a Short Sale Over a Foreclosure?  Sample Question: My husband and I have been making our mortgage payments every month even though our home is underwater. We owe a lot more than our home is worth. Now, my husband has lost his job. We're thinking about walking away fro...
01/24/2010
Hi Diane - I would like to thank ALL the real estate professionals who worked with us to document this fraud by banks regarding the short sale process and off-HUD kickbacks -- together we can help change this industry for the better! Here is the full CNBC Story on Short Sale Fraud: http://bit.ly/...
01/16/2010
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Diane Wheatley

Broker, SoCal Real Estate Expert (909) 815-4499
local_phone(909) 981-5400
smartphone(909) 815-4499
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Survived the mortgage meltdown and live to teach others how to buy and sell in the "move up" market in California.

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