by Frederic Din, REALTOR(r), your Imperial Valley Real Estate and Housing Specialist. Find out more information by texting GOTO IVREO to 95495 Did I get your attention? If you’ve been sitting on the fence about buying a home, thinking that prices are going to go lower, or whether your a first time home buyer or not, now is the time to pay attention and buy a home. You can buy a $150,000 home with only $750 out of pocket! How is it possible? We’ll keep on reading and let me educate you.
There is a grant program (yes, it’s a grant which means you do not have to pay the money back, it is a FREE Money Program for Imperial Valley California home buyers who make less than $84,500/year), which can used to help your closing costs or down payment.
In the headline I used an amount of $750 out of pocket, which is equal to 1/2% of a sales price of $150,000. The typical FHA (Federal Housing Administration) loan has a 3.5% down payment requirement, however with the grant program you can use the 3% toward your down payment and with my assistance as your REALTOR(r) to help negotiate the seller to pay your mortgage and home loan closing costs, so you can buy a home of $150,000 for only $750 out of pocket. This means $4,500 is being used as a grant to pay most of your down payment and the home seller will pay your home loan costs.
Can you scrape together $750 to become a homeowner? I think most serious home buyers could manage to get that sum of money put together rather quickly, especially if they knew they could buy a home now.
Find out more information by texting GOTO IVREO to 95495
There are some requirements and qualifications you have to meet like making under $84,500/year in income, however they are a piece of cake for serious people looking to buy a home.
Instead of going over the requirements and qualifications in detail, I’m going to ask you to contact me if you’re serious about being a homeowner and if you’re serious about buying a home this year, especially since there is FREE Money Available for you, those who are Imperial Valley California Home Buyers.
Simply comment below regarding this home buying grant program.
Feel free to call and ask me about the FREE Money Program and I will give you the information you need to make the right decision about buying a home with very little money out of your pocket. If you happen to get my voice message, please leave your name, phone number and a message asking about the Free Money Program so I know you saw my information.
Remember, when you contact me to give me your name, phone number or email address so I can contact you back, if you leave something out, it makes it very hard for me to reach out to you, I know you understand.
I look forward to hearing from you and helping you buy your Imperial Valley home today.
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
To learn more about buying your first home, check out my How To video calledhttp://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going toForSaleByFred.com, GetRealWithFred.com, ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro homes for sale - Brawley homes for sale - Imperial homes for sale - Calexico homes for sale - Heber homes for sale - Imperial County homes for sale - Imperial Valley homes for sale - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
I was reminded earlier in the week of some of the great benefits HomePath financing offers in certain situations.
In the Imperial County and many other parts of the country HomePath financing may be your only option to purchase a home specifically if it is a condo. We have several condominiums in the Imperial Valley that are not financeable because of low owner occupancy levels and defunct HOA’s.
HomePath is the brand Fannie Mae uses for its REO listings. HomePath financing is the home loan program made available for property owned by Fannie Mae. In some cases it may be your only option if you don’t have cash. I'll review some of the primary benefits of using HomePath financing below.
HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, with flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.
Benefits to You, the Buyer
- Low down payment with flexible terms like a fixed-rate, interest only, or adjustable rate. - Down Payments with as little as 3%, if you can afford 5% you will have fewer fees than the 3% option. - Down Payments can be funded by savings, a gift, a grant, employer, or even a loan from a nonprofit organization. - HomePath does not require the buyer to pay for an appraisal. - No mortgage insurance. - The option to have the seller contribute towards your closing costs with a credit. - This home loan program is available for primary residences, second homes and investment properties. - My favorite reason, many condo projects are approved for HomePath financing while other FHA and conforming loans are not.
You should give HomePath financing strong consideration especially if your looking at certain condos that may have limited financing options.
If your looking for HomePath listings in the Imperial Valley you can set up a search on ImperialValleyREO.com or HomePath’s website. If your considering a HomePath property my team and I have sold hundreds of them. Please feel free to call or email us with any questions.
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
Homes for sale in foreclosureby Frederic Din REALTOR(r)
See Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
What are homes for sale in foreclosure? They are bank owned or REO (real estate owned) properties in which the bank has taken the ownership of the home in the bank or lenders name.
The process in which a home goes into foreclosure is and can be a lengthy one, especially in judicial foreclosure states, however Imperial County or Imperial Valley California is located in a non-judicial foreclosure state, which means you don't have to attend a court hearing for your foreclosure.
California is a self-help state which the note and deed of trust most residential property owners get when they finance the home gives the specific details as to what happens when a default occurs (default missing payments).
Typically banks and lenders will beginning contacting you once your "grace period" or late charge period is over, which varies amongst lenders but say its 10-15 days. After that time frame your lender will start calling you and reminding you about your mortgage payment.
If the time frame is within three weeks, your lender may send you a letter requesting you to contact them and letting them know when your payment will be made. Should you miss a payment in the calendar month, your lender may report the missing payment on your credit history by sending a negative payment notice to the credit agencies, TransUnion, Experian, and Equifax, therefore aside from a late charge added to your payment, you will have a negative late mark on your credit report.
Typically during the time before two or three missed payments, your lender will send you a notice stating they intend to foreclose on the property by sending a Notice of Default, which is usually recorded with the county records office around three missed payments, however the time frame can vary.
Often times homeowners in this late payment stage will try to modify or sell their home through a process known as a short sale, which means they will sell their home for less than the amount they owe on the mortgage and the payoff to the bank or lender will be short (hence the term short sale), it has nothing to do with timing or length of the sale process. A short sale will result in a loss to your bank or lender since they have to agree to accept less than they are owed to clear your debt. The homeowner has to have a hardship in order to qualify for a short sale.
Short sales are often referred to homes for sale in foreclosure since the lender may continue the foreclosure process during the short sale. If the lender accepts any payments or a partial payment the foreclosure process stops and the foreclosure clock is reset, which is why most lenders who are in the foreclosure process will not accept any payments unless its a full mortgage payoff or a short sale.
If the lender does not receive a favorable market value for the sale, they may not approve the short sale and continue with the foreclosure process, which can take an additional two to three months to process.
The final state of a home for sale in foreclosure is the Notice of Trustee Sale, which is the sale by the lender to the general public at an auction typically held at the County Court house in El Centro 939 W Main Street. The auction times vary and are usually either at 2pm or 3pm, depending on the number of homes being auctioned at the time.
The Trustee Sale auction is not your typical auction, the lender sets the opening bid price and many times the amount is more than the home is worth which means nobody ends up bidding on the home and the home goes back to the beneficiary which is fancy speak for becoming bank owned.
If an attendee at the Trustee Sale auction would like to bid on a home for sale, they are required to show proof of funds by a cashiers check for the amount of the bid or more. Typically settlement (the closing of the sale) will take place within a short time after the auction is conducted and all sales are cash sales, no financing is eligible.
Those who bid on these Trustee Sale auction properties need to conduct their research before making bids on the property to ensure they are buying the note in first position or the first mortgage and not a junior or subordinate lien. The reason you want to research to deed history and outstanding liens is if the bidder buys a second or third mortgage they need to pay off the first mortgage to gain control of the home, which can be very costly and counter productive.
Ok Ok so perhaps an auction sale is not for you but I thought to share the process with you.
See Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
Most home buyers choose to buy a home at one of three stages, even through there are more than three stages, however these are the most common home seller stages in todays market.
1) The regular market sale seller - these sellers have equity in their home and are not in distress, they can sell their home without needing to short sale or being in foreclosure. Often times these sellers are not in a hurry and will wait a longer period to sell their home and get the offer they want. These homes can be in a variety of condition however most are owner occupied sales and the owners live in the home and are taking care of it.
2) The short sale seller - these sellers owe more on their mortgage than the home is worth, they are upside down and have no equity. As we discussed earlier, these sellers need their mortgage lender to approve the sale in order to sell and typically other conditions exist in the sale terms. The short sale sellers home condition can vary depending on the situation and if the owner still lives in the home. Most short sale sellers will not make any repairs or pay for any repairs or inspections since they are not making any money on the sale of their home.
3) The bank or lender seller - these sellers are financial institutions or banking entities which have foreclosed on the home and are now in a position to sell the home to recover some of the monies owed. The bank or lender has taken the loss against the home loan and is going to sell the home to get some of the money owed to them back. The condition of bank owned homes can vary depending on the bank and the situation. Most bank sellers will keep the home in average to good condition so it can be financed and sell easily, however other times the bank will not make any repairs and sells the home "as is", which means it may not be financed and in this case the bank will only consider cash offers.
Each seller has one goal and one goal only, to get the most money for the home in the least amount of time with the least amount of costs or repairs made.
Knowing these facts can help you, the Imperial Valley home buyer who is looking at homes for sale in foreclosure.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
Imperial Valleys Cool Pool Homes for Sale by Frederic Din, REALTOR(r)
During the years I’ve been selling real estate in the Imperial Valley, many clients have asked about homes in the Imperial Valley that have pools and as hot as it gets here you would think there would be more homes with pools for sale locally but there simply isn’t. I mean it gets over 100 degrees beginning in late May and runs through late September, more or less, thats HOT for a long time.
How much do pools cost? Depending on the type of pool you build, as well as the size, the pool amenities that go with them, you can expect to pay anywhere from $25,000 on the very low side to upwards of $80,000 or so. The average pool costs around $40,000 to build. Does a homeowner ever recover the cost of building a pool? Yes and no, as it depends on the home, the type of pool and moreover the location of the home with the pool.
Is it cheaper to buy a home with a pool already built-in even though the pool is damaged or needs work? Absolutely, if you want a pool and have some additional resources to invest into your home, then a home with an existing pool is well worth the extra hassle that may come with financing just to have one in place. Replacing pool equipment and repairing the pool will be much less expensive than building one from scratch, so you can potentially save thousands on buying a home with a pool already in place.
What about homes for sale with and without pools, whats the better deal?
The first few months of this year, from January through May 21, 2011, the Imperial Valley has had 62 homes with pools sold with a median size of 1,574sf and a median sales price of $120,500, these are median numbers.
By contrast, during the same time frame, there were 413 home sales without a pool and they had a median size of 1,577sf and a median sales price of $135,000.
Wow, did anyone else catch that? The median sales price of homes without a pool is higher by nearly 12% than homes with pools. Granted the number of homes with pools was only 13% of the total home sales of 475 for the first four 1/2 months of the year valley wide.
So how many pool homes are currently on the market versus non-pools as of this date, does anybody else want to know?
Currently there are a total of 661 homes on the market, some of these are older listings, so to level the playing field, I am only counting homes on the market after June 30, 2010 in all status categories except SOLD, expired or withdrawn/cancelled, so removing the older stagnant sales, there are a total of 606 homes on the market in all categories, including ACTIVE, back-up, contingent and pending.
Out of the 606 homes on the market a total of 63 homes have a pool, which is about 10% of the homes.
Does the home demographic change in this segment of homes on the market with a pool versus the non-pool homes? The median size of these homes is nearly 2100sf with a median listing price of $161,500, which is significantly larger than the last years pool sales.
However the non-pool homes carry a similar trait to last years non-pool home sales, this year the home size is approximately 1600sf with a median listing price of $135,000 which mirrors last years home sales.
What does this tell us about pool homes in the Imperial Valley real estate market?
This year it seems as if the homes with pools are larger and are a bit more expensive, however the homes without pools remain within the same price range as they did last years without a pool.
What does this mean for you and buying a home with pool? There are currently 25 homes on the market with pools in the Valley as of today ranging in price from the high $40,000 for condos with a pool in the community to a home priced at $1,500,000 with a pool out in the country of El Centro on over 10 acres.
Yes the range is wide however the median listing price of these homes with pools is $135,000 with a median living space of 1,700sf. A total of eight homes (8) are bank owned foreclosures while eleven (11) of the homes are listed as short sales. The remaining six (6) homes a not bank owned or short sales.
Does anyone want to go swimming? Dive on in and comment, I would love to hear from you.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
Buying Your First Home Doesn't Have to be Taxing by Frederic Din, REALTOR(r), Imperial Valley Real Estate Agent member of Imperial County Association of REALTORS(r), California Association of REALTORS(r) and National Association of REALTORS(r).
I'm sure you you've heard the stories from your friends and family members, story after story about how hard, challenging, and ultimately rewarding buying your first home can be, however it doesn't have to be taxing. As a matter fact, for most would be homeowners, buying a home is going to be provide a new tax deduction, far exceeding the standard deduction, however this article is not about taxes and does not provide tax advice. Any reference to tax statutes, deductions and exemptions are talked about for your educational and informational purposes only, you need to consult your tax preparer or CPA before making any tax type decisions.
Earlier this week thousands, if not millions of tax paying Americans filed and paid their Federal and State income taxes including yours truly. Most of these people are self-employed and owe federal and/or state income tax. As an independent contractor, my check doesn't get nickeled and dime'd by Fed, State, FICA, SDI and a host of other income type tax acronyms regularly associated with a W2 wage earner employees paycheck.
On the other hand owning a home allows you more tax deductions, including but not limited to points and fees you paid when you buy a home, as well as mortgage interest and property taxes, and a few others but make sure you check with your tax preparer or CPA before taking such deductions.
Many first time home buyers I speak to who pay a certain amount in rent also want to same mortgage payment since renters don't often get much of a tax incentive for being a renter, although there are some perks for renters, they are much smaller and mostly insignificant when compared to being a homeowner.
Over the years I counseled many renters into the financial benefit of being a homeowner and have found the following basics to be true.
1) Home ownership provides a long term and long lasting foundation to wealth building. You see I said long term, not a few years but more than ten years typically to fully see the benefits of owning a home.
2) Home ownership provides a much needed tax haven for most home owners. Yes, there are certain income and tax brackets on both sides of the spectrum that may not see the financial rewards of owning a home versus renting, but for most people it does.
3) Home ownership provides community stability and strengthens neighborhoods, cities, and even counties by providing a stable and sold property tax basis to provide funds for needed infrastructure such as schools, safety, hospitals and a host of other services we take for granted but come from our property tax dollars.
4) Home ownership provides a way to strengthen family and overall is responsible for families coming and staying together.
5) Home ownership provides a means of contributing to the neighborhood through pride of ownership. You know what I mean, those areas of town where all of the lawns are green, well kept, flowers in bloom, the home neatly and nicely painted.
As I've talked about in the past and will continue to encourage and talk about is how would be home buyers can educate and prepare themselves for their biggest purchase ever, a home, by following these three simple steps:
A) Make sure you get credit-approved or pre-approved first before looking at homes. This step will review your income and expenses, such as credit cards and car payments to find out exactly home much of a mortgage payment you can handle on a monthly basis.
B) Make sure you have or save some money to go hand-in-hand with your pre-approval. Money is needed for down payment, closing costs and/or home repairs. You can find mortgages that do not require a down payment and you can negotiate a home purchase where the seller pays part of your closing costs, but you will more than likely need to have something put away to make sure.
C) Once you have some money and are pre-approved, find and identify your home buying zone. This is probably where people search too far and too wide, meaning they begin looking at homes in Calexico to Calipatria, however you should narrow down your choices to school districts, work zone, and shopping districts which are important to you. With gas at $4.19 a gallon, driving long distances can be huge cost, so plan accordingly and you will be much better off in the long run.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
What's Happening with Imperial Valley Real Estate in the El Centro CA MSA in 2011?
On January 26, 2010, I wrote an article entitled Are We Back at Year 2000 Housing Prices? talking about how housing prices and the market changed by 25.7% from 2008 to 2009, so how did they fare in 2010?
Did housing prices suffer a major drop as dramatic as it was from 2008 to 2009 during 2009 to 2010?
On January 31, 2011, I wrote an article entitled You Get the Best of Both Worlds in Today's Housing Marketwhich talked about a slight "increase" in average sales prices from 2009 to 2010, however this increase was really ever so slight.
The average sales price for Imperial County MLS sales in 2009 totaled $129,865, while average sales prices for 2010 totaled $130,426, however both 2009 and 2010 had the same median sales price of $130,000.
The good news is pricing stabilization seems to be upon us and may even lead to some housing price increases as I wrote about in a March 19, 2011 article entitled Time to Buy or Buying Time which discussed three increasing trends which may soon stop the downward housing price spiral in Imperial Valley.
It seems as if housing prices are stalled somewhere between 2001 and 2002 prices on an average basis, but not quite to year 2000 housing prices, which is great news.
Home buyers have many more newer home choices to look into this time around and housing prices in some communities are priced below the same prices these newer homes were being sold brand new and many have the upgrades already built in.
Coupled with low low interest rates still hovering around 5% (some better some slightly higher), low housing sales prices and low interest rates makes home buying more affordable than ever before!
As of the writing of this article, the following cities have the posted number of "available" and active residential real estate listings, however keep in mind this available and active listings can change quickly, therefore its best to make sure you are in touch with your REALTOR(r) so they can keep you updated regarding which homes are coming on and off the market in your given buying area.
El Centro residential real estate - 77 listings priced from $27,900
Brawley residential real estate - 40 listings priced from $38,760
Calexico residential real estate - 60 listings priced from $77,700
Imperial residential real estate - 64 listings priced from $62,200
Heber residential real estate - 17 listings priced from $65,000
Holtville residential real estate - 9 listings priced from $65,000
Calipatria residential real estate - 6 listing priced from $26,900
Westmorland residential real estate - 2 listings priced from $60,000
As you can see, housing prices can be very low, however the average and median sales prices are much higher since the majority of the housing prices are in the $120,000-$200,000 range.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
What is a home inspection and why should I get one if I’m getting an appraisal?
A home inspection is different than an appraisal. If you’re buying a home and obtaining any type of government financing, such as an FHA, VA, or USDA loan, chances are you’ll come across some documents stating the importance of a home inspection. For your protection get a home inspection.
An appraisal determines the market value of the property at a specific point in time and provides an absolute value. While an appraiser is the eyes and ears for the lender, bank, or mortgage, a home inspection is typically ordered by the buyer for the benefit of the buyer. An appraisal will assess the market value of the home, however it is not intended to provide a thorough assessment of the overall condition and safety of the home.
The Federal Housing Administration (FHA) indicates that an appraisal is an estimate of the market value of the home and to ensure the home meets certain FHA minimum property standards, as well as ensuring the home is marketable. A home inspection is conducted by a qualified inspector and they take a more detailed look at the physical structure and systems within a home from the roof to the foundation. The average time for a home inspection is approximately 2 hours, while an appraisal inspection is completed in a short time relevant to the home inspection.
According to the American Society of Home Inspectors (ASHI), a home inspection report will examine and review the condition of the home and the following items:
The heating system
Central air conditioning system (HVAC)
Interior plumbing and electrical systems
Roof, attic, and visible insulation
Walls, ceilings, floors, windows, and doors
Foundation, basement (if applicable), and structural components
The ASHI also reminds homeowners that a home purchase or sale transaction is not the only time to consider scheduling a home inspection. Even if you plan on keeping or remaining in your home for several years, the benefits of a home inspection can be invaluable. Home owners often schedule maintenance inspections every three to five years to identify potential problems before they become costly repairs, also knowns as a preventative maintenance home inspection. A home inspection can also be extremely helpful for homeowners in identifying potential issues as part of a major remodeling or renovation project.
There are several trade organizations for home inspection companies to belong to, one being the ASHI, as well there is the National Association of Home Inspectors (NAHI) and the International Association of Certified Home Inspectors (InterNACHI).
Need a home inspection? Contact me for a recommendation as well as professional real estate representation whether you’re buying or selling your home.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contactFrederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO
El Centro home inspections - El Centro appraisals - El Centro BPO - El Centro property values - El Centro comparable market analysis - El Centro REO - El Centro real estate - El Centro short sale - El Centro bank owned - El Centro foreclosure - El Centro MLS
Brawley home inspections - Brawley appraisals - Brawley BPO - Brawley property values - Brawley comparable market analysis - Brawley REO - Brawley real estate - Brawley short sale - Brawley bank owned - Brawley foreclosure - Brawley MLS
Calexico home inspections - Calexico appraisals - Calexico BPO - Calexico property values - Calexico comparable market analysis - Calexico REO - Calexico real estate - Calexico short sale - Calexico bank owned - Calexico foreclosure - Calexico MLS
Imperial home inspections - Imperial appraisals - Imperial BPO - Imperial property values - Imperial comparable market analysis - Imperial REO - Imperial real estate - Imperial short sale - Imperial bank owned - Imperial foreclosure - Imperial MLS
Heber home inspections - Heber appraisals - Heber BPO - Heber property values - Heber comparable market analysis - Heber REO - Heber real estate - Heber short sale - Heber bank owned - Heber foreclosure - Heber MLS
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
The Imperial Valley REO website has been undergoing some changes recently and it will be expected to have a new interface within two weeks or so according to web marketing specialist Ron Goff of GonBotStudio.
“Over the next few weeks the ImperialValleyREO website, which is the premiere Imperial County real estate website portal will be taking on a new look and dynamic functionality”, said Ron Goff “allowing home buyers and real estate shoppers unparalleled access to all types of Imperial County properties for sale including regular market sales, foreclosure properties such as bank owned, REO, and short sales, as well as probate, investor, and distressed properties.”
Local Imperial County REALTOR(r) and Imperial Valley native Frederic Din provides his buyer clients a systemic high tech, high touch approach to buying real estate whether its their first home or their third.
“Buyers who use the website are increasingly sophisticated and digitally capable allowing the buyers to make offers electronically shifting through 20-30 documents in electronic signature format and signing the documents in the comfort of their home or office while receiving fully executed clean copies for their records delivered securely and electronically to their email inbox”, says Frederic.
Aside from being the first REALTOR(r) in the Imperial Valley to provide video home tours of properties for sale to his local clients, Frederic doesn’t stop there and provides video home tours to out of area buyers who are relocating to the Imperial County CA area and are unable to make weekly or monthly trips to view homes.
“I recently had a client who relocated from Missouri to the Imperial CA area who found me online and asked about a few homes. After we talked and understood his buying needs, I visited three properties for him, shooting a quick two-three minute video so he could see the homes from the inside out. This gave him an opportunity to visit the property without losing valuable time taking care of matters back home. We selected one of the homes he saw and immediately placed on offer on the property. While they were visiting the area a week later they competed their offer items as the offer was accepted. Technology helped this client make an intelligent move to the Imperial Valley and improved the way he signed his contract and disclosure documents using electronic signatures”.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
You Get the Best of Both Worlds in today's housing market in 2011 by Frederic Din, REALTOR(R)
"Hey Fred, I thought you are writing and talking about the real estate market, not some Disney Channel Hannah Montana song".
Okay I admit, I recently watched the final episode of Hannah Montana Forever, the one were where Miley Stewart aka Hannah Montana choses to go to Stanford University with her bff Lilly.
Everyone now knows her secret about being Hannah Montana and she ends up choosing an ordinary type of life as a college student although her life is far from ordinary.
The same goes for today's housing market, which is nothing short of being anything but ordinary. "Why is that", you ask yourself.
Let me sing it to you again, "You get the best of both worlds..."
Best of World number one - Housing prices
First of the "best of both worlds" has to do with housing prices in the Imperial Valley. Real estate prices in this market are as much as 50-75% off from where they were just a few short years ago at the market peak.
In 2006 the "median" resale housing price (not including new homes) was $260,500, while the median resale housing price in 2010 was $130,000.
The "average" resale housing price for these to periods are fairly close to the median amounts, which were $263,038 during 2006 and $130,426 during 2010.
MEDIAN - For example, if there are five sales during the year, they are ranked from the lowest to the highest sale price, the median value is the third sale.
AVERAGE - The price of a home determined by totaling the sales prices of all houses sold in an area and dividing that number by the number of homes.
As you can see, there is a 50% decrease in median and average sales prices over the last four years and the numbers for 2009 were about the same as 2010 with the median resale housing price at $130,000 and the average sales price at $129,865.
Actually we had a slight increase in average sales prices from 2009 to 2010, however the true test of housing price stability lies with longer term results tested against several years.
Best of World number two - Mortgage interest rates
The second of the 'best of both worlds" has to do with mortgage interest rates which makes it the perfect housing storm for would-be home buyers. Interest rates are at their lowest level and at the same time housing prices are low too, so why is all of this important to you?
For the purpose of this article I will go over three reasons.
I admit, one of the most exciting and rewarding parts of my job role as a REALTOR(R) is to see the faces, hopes and dreams of first time buyers when they're given the keys to their first home.
Just a few short years ago housing prices were so high, so disproportionately out of reach many first time home buyers either couldn't afford the American Dream or were lured into buying homes they couldn't really afford by using artificial temporary short term financing which only pushed housing prices higher and higher.
Housing prices have now adjusted and have fallen to levels of true affordability and mortgage interest rates and mortgage products are fixed rate, long term, principal and interest type of loans that require low to moderate down payments, which makes the American Dream of true homeownership more real and more affordable than ever.
The second reason has to do with Trade-up and Trade-down buyers, who may also be sellers.
Trade-up buyers are those whose housing needs have changed, have outgrown their existing home, or have the financial means of selling their home and taking their equity to purchase a larger more expensive home.
Depending "when and how" the trade-up buyer purchased their existing home will dictate their trade-up move and whether or not it's possible. Most trade-up buyers purchased their home before the large upswing in the early part of the last decade and many put larger down payments, typically in excess of 10-20% down.
Coupled with several years of mortgage payments showing principle reduction, these home buyers and sellers have equity in their homes, if they didn't borrow against their home at peak market prices.
The same holds true for trade-down buyers, those who are nearing or entering retirement, empty nesters, or those whose overall general health is burdened by a larger home are opting to trade-down to more manageable homes.
Many of these buyers and sellers are in the same position as the trade-up buyers who purchased before the large pricing increases, had larger down payments and didn't fall prey to the refinance craze of the mid-2000's.
Both the trade-up and trade-down buyers are benefiting from lower housing prices today to locate their dream homes for far less than they would have paid just a few years ago and conventional loan financing for non-first time home buyers seems to be hovering just around 5% on average.
The last reason has to do with Investors. With housing prices so low in many areas, investors who planned wisely and those with access to tools, financing, and some luck are picking up great bargains with two goals in mind.
One, investors are buying low, and renting them out to provide cash flow, while letting the market settle.
Two, investors are buying low, fixing the home up, then selling for a profit to home buyers who are looking for homes to buy.
The two worlds of housing prices and mortgage interest rates are here, together, at the same time, a phenomenon which hasn't been with us since the 1990's and more than likely won't be with us again for years to come.
For example, in the year 2000, housing prices were slightly lower than they are today with a median housing price of $112,000 and an average sales price of $117,635 however mortgage interest rates were between 7.5% and 8%, substantially higher than they are today.
Another factor is we have many newer, nicer homes to choose from than we did in 2000, which only makes the low housing prices and low mortgage rates even better so you can have the best of both worlds.
Are you looking at buying a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to http://GetRealWithFred.com or http://ImperialValleyREO.com
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area.
Thank you for reading
Frederic Din, REALTOR(r) Lic #01274420
"Your Imperial Valley Housing Specialist"
Call me 760-235-4885
or feel free to email me info@ivforeclosures.com at anytime.
EL CENTRO - Thousands of struggling homeowners across the State of California have already called in to take action for the federally funded mortgage assistance program valued at $2 billion.
"The program, called 'Keep Your Home California" is offered to homeowners who need help on a first come first serve basis", said Frederic Din, a REALTOR(R) in Imperial County California, one of the States hardest-hit foreclosure regions and an area with consistently the highest amount of unemployment.
"Imperial Valley has been hit especially hard by the housing downturn and our homeowners are urged to act quickly to make sure they get the emergency mortgage payment assistance available to help them keep their homes", says Frederic. "Take the time, call, and apply now, even if you don't know if you qualify or not."
Homeowners who request help will need to meet eligibility and income requirements. Imperial County has an income limit of $67,550, according to CHFA, the California Housing Financing Agency which is administering the federally funded program. The homeowners mortgage servicer (the ones who collect the payment), must also participate in the program.
There are four programs which will have access to the $2 billion for mortgage assistance.
According to Evan Gerberding, assistant direct of market of CHFA says, "the programs are designed for people who are committed to being homeowners, and the last thing they want to do is to foreclose on their homes."
The first of the four programs is the Unemployment Mortgage Assistance program and offers homeowners up to $18,000 toward their mortgage payments or up to $3,000 per month over six months while they look for work.
The other three programs that are set to become available in February are:
Mortgage Reinstatement Assistance which provides financial assistance to reinstate delinquent mortgage loans to prevent potential foreclosure.
Principal Reduction Program reduces the outstanding principal for homeowners who are underwater by paying up to $50,000 to match, dollar for dollar, funds contributed by participating lenders.
Transition Assistance Program provides up to $5,000 in transition assistance for short sales and deed-in-lieu of foreclosure.
In Imperial County last year (2010), nearly 3,500 properties were affected by foreclosure, according to data reviewed and researched on Foreclosure Radar.
For information regarding Keep Your Home California, feel to contact me at any time.
Imperial Valley Real Estate resources for home buyers, home sellers, property values, foreclosures, bank owned, REO, short sale, investment, and distressed properties
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.
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