OK home sellers. Please do your selves a favor, if possible, be present at the time the appraiser is appraising your home. They may not be able to contact us, the agents and lenders, but you can be there to offer your two cents!
Go ahead, tag along! Tell them what they need to know! No one knows the property like you do.
I have a transaction going that the appraiser appraised the property for almost $20,000 less than we were in contract for. WHAT? WHY? Well, one thing noted in the appraisal were the kitchen cabinets, they were missing the doors, or were they? NO, the seller had taken them off and had stored them in the garage. She thought it made the kitchen look larger. This is just one example of why it is important to make sure that the appraiser gets all the information they need to make correct calculations.
Just a little frustrated with the "changes" that are supposed to be helping the consumer not hurting them!
If you would like an idea of what your home may be worth, give Executive Properties a call.
The current U.S. housing market and national financial crisis has caused untold stress and heartache for many American families. Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. The options available to home owners for foreclosure are many. Following is a brief explanation of these solutions:
1.) Reinstatement
A reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale.
2.) Forbearance or Repayment Plan
A forbearance or repayment plan involves the homeowner negotiating with the mortgage company to allow them to repay back payments over a period of time. The homeowner typically makes their current mortgage payment in addition to a portion of the back payments they owe.
3.) Mortgage Modification
A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically result in a lower payment to the homeowner and a more affordable mortgage.
4.) Rent the Property
A homeowner who has a mortgage payment low enough that market rent will allow it to be paid, is able to convert their property to a rental and use the rental income to pay the mortgage.
5.) Deed in Lieu of Foreclosure
Also known as a 'friendly foreclosure', a deed in lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process. Lender approval is required for this option, and the homeowner must also vacate the property.
6.)Bankruptcy
Many have considered and marketed bankruptcy as a 'foreclosure solution,' but this is only true in some states and situations. If the homeowner has non-mortgage debts that cause a shortfall of paying their mortgage payments and a personal bankruptcy will eliminate these debts, this may be a viable solution.
7.) Refinance
If a homeowner has sufficient equity in their property and their credit is still in good standing, they may be able to refinance their mortgage.
If a member of the military is experiencing financial distress due to deployment, and that person can show that their debt was entered into prior to deployment, they may qualify for relief under the Servicemembers Civil Relief Act. The American Bar Association has a network of attorneys that will work with servicemembers in relation to qualifying for this relief.
9.) Sell the Property
Homeowners with sufficient equity can list their property with a qualified agent that understands the foreclosure process in their area.
10.) Short Sale
If a homeowner owes more on their property than it is currently worth, then they can hire a qualified real estate agent to market and sell their property through the negotiation of a short sale with their lender. This typically requires the property to be on the market and the homeowner must have a financial hardship to qualify. Hardship can be simply defined as a material change in the financial stability of the homeowner between the date of the home purchase and the date of the short sale negotiation. Acceptable hardships include but are not limited to: mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation, and more.
For more explantion of your options including drawbacks and benefits of each scenario click here!
Absolutely charming home in Twelve Bridges. Large foyer perfect for a grand piano, cherry cabinets, stainless steel appliances with double oven, pantry closet & granite counter-tops. Downstairs bedroom with private bath, laundry room with sink and cabinets and 1/2 bath. Plantations shutters, central vac, outside speakers and a 4 car garage! Enjoy an extra large media room complete with surround sound. There is also an open area for sitting or office! Upstairs bedrooms with Jack & Jill bathroom.
Details
Asking Price:
$399,900
MLS:
90041700
Sq. Feet:
3863
Lot Size:
.187
Bedrooms:
5
Bathrooms:
4.5
# of Floors:
2
Garage Size:
4
Subdivision:
Twelve Bridges
Year Built:
2005
Property Amenities
- Range/Oven
- Sink Disposal - Microwave - Central Vacuum - Dishwasher - Fireplace - Kitchen Island
- Vaulted Ceilings
- Fenced Yard - Central A/C - Central Heat - Walk-in closet - Tile floor - Family room
The Federal Tax Credit for first time home buyers of up to $8000 is only good until November 30, 2009. You must be CLOSED on the purchase by that date. Please visit Executive Properties website now to search for homes on the market. Be sure to look in the "Documents" tab for the attached flyer from the National Association of Realtors for more information on the tax credit.
UPDATE: The California tax credit of $10,000 for those buying a "new" home has stopped taking applications as of July 3, 2009. They have used all of the $100,000,000 allowed for the program.
Lawmakers tried to get you $15,000 but settled on $8,000. The next stimulus package called the American Recovery and Reinvestment Act of 2009, has been passed by Congress and signed into law.
So what does that mean to you?
Details were still sketchy but here's what to expect:
- The tax credit increases from $7,500 to $8,000. - Anyone who has not owned a home in the last 36 months is eligible. - The new provisions begin January 1, 2009 and will extend through the end of the year. - The tax credit does not have to be paid back if the buyer stays in the home for at least 3 years. - No changes to income eligibility: Buyers must make less than $75,000 for singles and $150,000 for couples. If you make more money than that you may be eligible for a partial credit.
How do you get the money? Here are a couple examples:
Example: At the end of the year your tax liability is $5,000, but you've overpaid by $1,000 through your withholdings. Normally, you would get a $1,000 refund check from the IRS. In this example, you get $9,000. The $8,000 credit plus the $1,000 you overpaid.
Example: Your final tax liability is $6,000, but you've underpaid through your payroll withholdings by $1,000. Normally, you would have to write the IRS a $1,000 check when you file your taxes. This time, the first $1,000 of the tax credit pays the amount you owe, and you get the remaining $7,000 as a refund.
**************************************************************************************** The not so good news: Those who bought a home last year and were eligible for the $7,500 credit. You still fall under the old rules requiring the tax credit to be paid back beginning in year 2010 at the rate of $500 a year.
Please contact me if you have any questions about this bill and how it may affect you.
Buying a home is no easy task. It's rather a complex process. To help insure that your home purchase is a profitable and successful one, I have teamed with with mortgage professionals to sponsor a Free Home Buyer Class to teach you the secrets of a successful home purchase.
Here's what you'll learn:
* Secrets of foreclosures and short sales * How to find the hot deals * How much can I afford to buy * Is my credit good enough * Loan programs available in this market * Who qualifies for zero down payment * Can the seller pay for my closing costs
Please register below for reserver you seat. Space is limited!
Our next class is:
Date: Thursday, April 16, 2009 Time: 6:30pm - 8:30pm (Registration starts at 6:00pm) Place: Watt Ave. in Sacramento
Sometimes this is how our lives pass us by...here today changed tomorrow. Sometimes people leave all too soon, their lives but a vapor. Tell someone you love them now. Remember, it's the kittle dash between the years on the tombstone that makes the statement about you, what you did during your life to help others is what matters most.
At the end of your life you won't say, "Gee, I wish I would have spent more time at the office!" or "I wish I could have closed one more transaction!" It will be, "Did I tell her/him I loved them enough?" "Did I help them out when they needed me?"
Make the most of every second in 2009. Make the world a better place...one person at a time.
Happy New Year! Make it a great one!
Buying a home in California through a California Housing Finance Agency, aka CalHFA, assistance program? Not so fast! The real estate and mortgage industry suffered yet another blow this past Friday.
Due to the nature of the unsettled California budget, or lack of, CalHFA had no other option but to suspend their programs.
The Rest of the Story....
The good news...any loan in their system through Friday, December 19th, will be honored. After that, the program is at a standstill.
Remember FHA allows gift money.....so if you are thinking about buying a home....you know what to ask for this Christmas!
One more bit of useful information....After January 1st the new minimum down payment goes from 3% to 3.5%.
From 1558 until 1829, Roman Catholics in England were not permitted to practice their faith openly. Someone during that era wrote this carol as a catechism song for young Catholics.
It had two levels of meaning: the surface meaning plus a hidden meaning known only to members of their church.
-The partridge in a pear tree was Jesus Christ.
-Two turtle doves were the Old and New Testaments.
-Three French hens stood for faith, hope and love.
-The four calling birds were the four gospels of Matthew, Mark, Luke and John.
-The five golden rings recalled the Torah or Law, the first five books of the Old Testament.
-The six geese a-laying stood for the 6 days of creation.
-The seven swans a -swimming represented the sevenfold gifts of the Holy Spirit--Prophesy, serving, teaching, exhortation, contribution, leadership and mercy.
-The eight maids a-milking were the eight beatitudes.
-The nine ladies dancing were the nine fruits of the Holy Spirit-- love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control.
-The ten lords a-leaping were the ten commandments.
-The eleven pipers piping stood for the eleven faithful disciples.
-The twelve drummers drumming symbolized the twelve points of belief in the Apostles' Creed.
Merry Christmas from Executive Properties to you! Have a happy 2009!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
The Federal Tax Credit for first time home buyers of up to $8000 is only good until November 30, 2009. You must be CLOSED on the purchase by that date. Please visit 
Lawmakers tried to get you $15,000 but settled on $8,000. The next stimulus package called the American Recovery and Reinvestment Act of 2009, has been passed by Congress and signed into law. 
Buying a home in California through a California Housing Finance Agency, aka CalHFA, assistance program? Not so fast! The real estate and mortgage industry suffered yet another blow this past Friday.
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