You have an offer that is CASH AS IS for REO Property in Tracy, CA.....

Buyer chooses to do inspections.   Inspections are completed.......

Handyman says $8000 in repairs necessary, this includes CLEANING the gutters.....

Your buyer wants $6000 credit for repairs..... Ms Realtor, would you please submit my buyers Request for Repairs to your seller, yes I KNOW it is a bank, yes I KNOW it stated AS IS, however I want you to ask the Asset Manager anyway.

Surprise, surprise -- Asset Manager says "YES, to $6,000 credit, reduction from purchase price."  

WHY?   Net is still more than bank appraisal, a cash buyer is still better than starting all over again.   

Hmmm..... point proven There is No Harm in Asking

The City of Mountain House has been living in the dark.  Why - to save money.

I just had some buyers move into thier dream house on Central Parkway.  Thye moved in and discovered that the Community of Mountain House, CA was saving money by not having the street lights on.

The Board decide to turn these lights back on - whoo hoo.  DeAnza and Main Street will have every other light on.

All Street lights have also been changed to Blinking instead of the traditional Red, Yellow and Green.

Mountain House's issues stem from a budget based on previous home values, not today's home prices.  The home my buyers purchased previously sold for $685,000 they purchased their home for almost half of that price. WOW

Mountain House has such great potential, not only are home owners facing short sales, foreclosures and budget cuts, so is the community.

This question - Is it Immoral or lacking in integrity to STOP paying your mortgage?

This question has been asked over and over again. I'm not here to give an answer.  I do know that in my communities of Tracy and Mountain House, CA the real estate market has taken a 50% dive in the past 3 years. 

Numerous home owners have asked this question.....

Here are a couple of things to consider....

1) The homeowner didn't borrow money from grandma, friends and then say "Sorry not paying you and you can't have anything of mine."

2) This was a bilateral contract -- the BANK agreed to loan the HOMEOWNER money, using the HOME as collateral.  What does that mean?  It means - as long as the homeowner pays the bank they get to keep their house.  If the homeowner STOPS paying the mortgage the bank get the house.  (aka Foreclosure)

We can modify that agreement via a Loan Mod or a SHORT SALE. Either of these options modify the agreement, as the homeowner is trying to renegotiate the original agreement.

I'm not going to pass judgement, I do know that there are tons of homeowners in Tracy and Mountain House   contemplating a Short Sale, Loan Mod, or Foreclosure, that desperately need some advise, compassion and direction.  The "fear factor" for them is at an all time high.  

I'd love to hear your thoughts on this -- weigh in. ---

Sadly enough the FBI is pressing charges against a mother and daughter team in my local area.  They were living in Manteca, which is 5 miles away.  They had a buyer in who bought MY TRACY Listing.

I can't tell you how many time I've heard -- "OH WOW, I knew them, I did business with THEM."

Their offence - putting people into loans they could not afford, promising a loan modification after the first payment was made... then they would disappear.

It is such a black eye on our industry.

It also begs the question - should you do loan and sell real estate.

I know my personal opinion is NOPE, too much potential for a conflict of interest. 

I'd love to hear your opinion on this.

Today Short Sale are getting approved, and some banks want the seller to help pay to close the deal. 

If your loan is with Bank of America/Countrywide, or if you have a second and YOU ARE THE SELLER _ you need to expect to PAY something to contribute to the sale of your home.

3 of my recent Short Sale approvals in Tracy CA, and one in Mountain House expected contributions from the seller.

Think of it this way Mr & Ms. Seller - if your bank said to you - "Give us $10,000 and we'll  put $100,000 in your account would you do it? Of course you would.  This is a similar situation.  The Bank (loan holder) is offering to eliminate your debt in exchange for you paying something.  Sounds like a deal to me.

Yes you can still go into foreclosure, and I always recommend seeking the advise of a good attorney before deciding to proceed with a short sale or going forward with a foreclosure.

Mr /MS Seller if you're not paying your mortgage, save some of that money so you can contribute towards the sale of your property if you are asked. 

 What is THIS? That's was the holler I heard from my buyer as they walked in to the garage.

We call came running.

This is a GIANT panda, that has a 2 ft high stand, I'm guessing this non-too-friendly looking panda in his stand is well over 5 feet tall.

The real questions is -- WHAT WAS THIS PANDA USED FOR????  WHY IS IT IN THE GARAGE?

Will the previous owners leave it for my buyers if they get thier offer accepted on this Short Sale?  Maybe we can negotiate it into the offer?

So what is the strangest thing you've seen????? Can you top the Giant Panda?

DO not tell me we have approval on YOUR Short Sale - when there are conditions that require my buyer to come up with cash......

My Buyer have been waiting since May to hear AN answer from the bank ON their short sale offer.

I get "THE CALL" today, the message and email say "Great news the first and second have approved the short sale.  Give me a call when you get the chance"

Imagine my surprise - and BOY am I glad I DID NOT call my buyers FIRST.  When I finally got a hold of the other agent this is what I heard. "Susan I am so excited we have approval on the first and the second.  Oh and BY THE WAY - the 2nd needs $10,000 MORE dollars, so your buyers need to bring $10,000 CASH to closing." 

This is an FHA offer, if they had $10,000 more we would have been a conventional buyer.

As far as I'm concernced "WE"  DO NOT have approval.  You should not expect my buyers to contribute $10,000  CASH so your clients can avoid foreclosure.  YOUR Client is still living in this house, and has not made a house payment for the last 8 months, what happened to the money they were paying, $3800 a month x 8 = $30,400? 

I've got an obligation to my client to let them know --- however -- the other agent A) needs to try to negotiate with the bank b) tell her seller that if they want to sell they either need to come up with the cash OR take a note or C) at the very least offer to split/share this cost. The agent didn't even OFFER to talk to her CLIENTS about paying SOME of the money wanted.

(Please don't tell me if my clients want the house they should pay, they are willing to increase their offer and finance this amount, if it comes to that.  Listing agent said that was impossible as First would take the increase and not pass it on to the second -- she hasn't talked to either bank yet.)

Your thoughts?  What am I missing in this picture?

Susan Goulding & Associates
Tracy and Mountain House CA

We believe that helping people short sale thier homes is the kindest thing we can do in today's market.

Amazingly enough I hate mornings. I'd be so happy if my day's stated at 10:00 a.m.and ended at 2:00 a.m.; however that is not my world.

Imagine my surprise when I was "forced" -- yes some friends actually 'shamed' me into going with them to the "Tracy Farmer's Market."  The shocker is we were downtown by 9:00 a.m.

What I found was a delightful mix of fruits, vegetables, flowers, breads, even jewelry.  I'm not sure how you grow jewelry on a farm but....

If you're out and about this Saturday stop by the Tracy Farmer's Market, it's on 10th Street between D and Central. You'll be delightfully surprised.

When you see me being dragged around half asleep - just say "HI!" I'm here because of you.

Tracy CA Local Expert -- next week photos.

Simple Truths  - A Peacock in the land of Penguins

I was asked today what makes you different, why would a buyer or seller choose you... otherwise known as "my unique value proposition".  

It made me stop and think.  Am I a Penguin in a black and white world, where everything is done the same way for no reason other than "we've always done it that way"?  Or am I a Peacock, that is open to new ideas, that shares freely and hopes others will share with me.  Simple Truth's   A Peacock in the Land of Penguins illustrates this a quick 4 minute video..

What it made me realize is that the land of Opportunity is much more than a place it is a State of Mind.

Status quo is part of what makes me different - I don't accept the Status Quo, and I am always looking for input from others on how to make their world better.

Susan Goulding