stanislaus county short sales: Are Stanislaus County short sales and foreclosures a thing of the past? - 10/29/13 10:43 AM
Are Stanislaus County short sales and foreclosures a thing of the past?
Are Stanislaus County short sales and foreclosures a thing of the past?  First let me start off by stating that all markets are different.  What happens here in Stanislaus County has pretty much no bearing on what may or may not be happening in your part of the country.
Here in Stanislaus County we have seen a huge drop in the number of foreclosed homes and short sales.  Check out the numbers below.
 
Modesto Distressed Sales September 2010 - 74% of all Sales September 2013 - 26% of … (4 comments)

stanislaus county short sales: Stanislaus County Short Sale Sellers - Important Information! - 06/20/13 08:54 AM
Stanislaus County Short Sale Sellers - Important Information!
 
Stanislaus County Short Sale Sellers I have important information for you.  If you are behind on your mortgage payments and a loan modification wasn't helpful or was turned down you may be thinking about a short sale. I'm sure you probably still have a million questions about how to go about selling your Stanislaus County home in a Short Sale.  Well go ahead and ask away, that's what I am here for.
But have you considered this?  Do you really know how much your home is worth?  Have you heard what the … (3 comments)

stanislaus county short sales: Stanislaus County Home Sales Stats - May 2013 - 06/03/13 08:50 AM
Stanislaus County Home Sales Stats - May 2013
 
The sales numbers are in for Stanislaus County Home Sales for the month of May 2013.  Distressed properties (Bank owned and Short Sales) once again are less than 50% of the market. This is down significantly from just a couple of years ago when they accounted for nearly 80% of all sales.
 
Here are the May 2012 and May 2013 Sales Stats for single family homes:
 
Totals for May 2013:
416 Total Sales 48 Bank Owned Sales (12% of all sales) 118 Short Sales  (28% of all sales) 40% … (2 comments)

stanislaus county short sales: Another Successful Stanislaus County Short Sale - That was easy! - 04/29/13 09:02 AM
Another Successful Stanislaus County Short Sale - That was easy!
 
Another successful Stanislaus County Short Sale.  This one was one of those short sales that every agent dreams about.  Some short sales can be nightmares and some are dreams.  This one fell into the later category.  The biggest reason for that is because the short sale bank was Wachovia Bank.  
 
Wachovia Bank (now owned by Wells Fargo) has by far the easiest short sale process.  They are the only bank that has a local short sale manager.  They require very few documents in order to approve the short sale.  … (5 comments)

stanislaus county short sales: Trying to buy a home? You might not want to do it this way. Part 2 - 04/24/13 05:58 AM
Trying to buy a home?  You might not want to do it this way. Part 2
I know everyone loves a great deal and no one wants to spend more on something that they have to. Shopping for some people is a favorite leisure activity.  Extreme couponing is almost considered a sport by some people.  But there are times when trying to get a bargain just might not be a great idea.
Lots of home buyers think it's a great strategy to hold back on their offer.  They would never offer their highest and best offer right from the start.  … (4 comments)

stanislaus county short sales: Stanislaus County Home Sales Stats -March 2013 - 04/03/13 07:06 AM
Stanislaus County Home Sales Stats -March 2013
 
The sales numbers are in for Stanislaus County Home Sales for the month of March 2013.  Distressed properties (Bank owned and Short Sales) are still dominating the market.
 
Here are the March 2012 and March 2013 Sales Stats for single family homes:
 
Totals for March 2013:
 
459 Total Sales 62 Bank Owned Sales (14% of all sales) 122 Short Sales  (26% of all sales) 40% of all sales are distressed property sales Median price $167,500
Average Days On Market 27  
Totals for March 2012:
 
558 Total … (2 comments)

stanislaus county short sales: A tale of two Stanislaus County Short Sales - 04/01/13 10:17 AM
A tale of two Stanislaus County Short Sales
Every time I list a Stanislaus County Short Sale the seller will ask me how long I think it will take to sell their home. This is one of the most difficult questions to answer.  Unfortunately there is no "Average time" for a short sale.  Like snowflakes, no two short sales are alike.  
Here is an example of two Stanislaus County Short Sales I am currently working on.
Short Sale A - Listed on November 6,2012.  Accepted offer on November 15,2012
The short sale package was sent to the banks immediately.  The first … (0 comments)

stanislaus county short sales: Is Fannie Mae Scamming Stanislaus County Short Sale Sellers? - 03/22/13 08:16 AM
Is Fannie Mae Scamming Stanislaus County Short Sale Sellers?
 
Is Fannie Mae scamming Stanislaus County short sale sellers?  It sure seems that way.  At the very least Fannie Mae does not want to do short sales.  Why else would they be coming up with such unbelievable and irrational valuations?  I am speaking from experience and also have read several other blogs by short sale agents around the country that have faced the same thing when it comes to a Fannie Mae short sale.
Here's what happened in my instance.  I have a Stanislaus County Short Sale listing with a Wells … (12 comments)

stanislaus county short sales: Stanislaus County Home Sales Stats -February 2013 - 03/05/13 03:52 AM
Stanislaus County Home Sales Stats -February 2013
 
The sales numbers are in for Stanislaus County Home Sales for the month of February 2013.  Distressed properties (Bank owned and Short Sales) are still dominating the market.
 
Here are the February 2012 and February 2013 Sales Stats for single family homes:
 
Totals for February 2013:
365 Total Sales 63 Bank Owned Sales (17% of all sales) 111 Short Sales  (30% of all sales) 47% of all sales are distressed property sales Median price $150,000
 
Totals for February 2012:
507 Total Sales 202 Bank Owned Sales (40% of all … (3 comments)

stanislaus county short sales: Why are you still holding on to your Stanislaus County Home? - 02/27/13 12:08 AM
Why are you still holding on to your Stanislaus County Home?
My question to you today is, Why are you still holding on to your Stanislaus County Home?   If you are like many people in Stanislaus County you are struggling to pay your mortgage every month.   In many cases your struggles are not of your own doing.  Maybe you lost your job, got divorced, got transferred, or one of many other reasons.   On top of the struggles with making the payment your home is now worth considerably less than what you owe on it.  You are "upside down" or "underwater".
(8 comments)

stanislaus county short sales: Stanislaus County Home Sales Stats -January 2013 - 02/05/13 03:38 AM
Stanislaus County Home Sales Stats -January 2013
 
The sales numbers are in for Stanislaus County Home Sales for the month of January 2013.  Distressed properties (Bank owned and Short Sales) are still dominating the market.
 
Here are the January 2012 and January 2013 Sales Stats for single family homes:
 
Totals for January 2013:
 
398 Total Sales 88 Bank Owned Sales (22% of all sales) 122 Short Sales  (31% of all sales) 53% of all sales are distressed property sales Median price $155,000
 
Totals for January 2012:
 
446 Total Sales 175 Bank Owned Sales … (0 comments)

stanislaus county short sales: Stanislaus County is No Longer Foreclosure Capital of The World! - 01/30/13 08:53 AM
Stanislaus County is No Longer Foreclosure Capital of The World!

Since the "Bubble Burst" in late 2007 Stanislaus County along with San Joaquin and Merced Counties has been known as the Foreclosure Capital of the World.   Various publications and experts made that claim through out 2007, 2008 and 2009.   It wasn't unusual to see neighborhoods with several abandoned homes on a single street. 
The vast majority of homes sold in Stanislaus County in those years were bank owned, or REO properties.   Banks were foreclosing on homes seemingly as fast as they could.   Very few homes were sold as Stanislaus County … (10 comments)

stanislaus county short sales: What is really going on in the Stanislaus County Real Estate Market. - 01/28/13 09:25 AM
What is really going on in the Stanislaus County Real Estate Market.
 

While getting my hair cut the other night the lady cutting my hair mentioned that she had heard on the news that there were not a lot of homes available.   Now this lady is pretty knowledgeable about real estate and we usually get around to talking about real estate when I'm getting my hair cut.   I think she also new this fact about the real estate market too. 
I pointed out to her that this is something that I have known about for nearly a year.   I … (7 comments)

stanislaus county short sales: Thinking about a Stanislaus County Short Sale? - May I ask you a question? - 01/24/13 08:52 AM
Thinking about a Stanislaus County Short Sale? - May I ask you a question?
 
What do you think is the best scenario for trying to sell your home as a Stanislaus County Short Sale?
1. There are very few if any homes just like yours listed for sale.  
Or
2. There are lots of homes just like yours listed for sale.

What do you think is the best scenario for trying to sell your home as a Stanislaus County Short Sale?
1. There are lots of ready willing and able buyers just dying to get their offer accepted.
Or
(4 comments)

stanislaus county short sales: Is this the new way to sell your Stanislaus County Short Sale? - 01/23/13 04:39 AM
Is this the new way to sell your Stanislaus County Short Sale?
 
I have seen this a few times in the MLS and now I have experienced it myself.  I wasn't too sure about it when I first saw it, now I may be warming up to it some.  What some Stanislaus County Short Sale sellers are doing is a one day open house for all showings.   The home goes on the market at the beginning of the week but can only be shown at the open house.
 
At first I thought that this might limit the amount … (2 comments)

stanislaus county short sales: Hey Wells Fargo - one of us is wrong - And It's NOT Me! Part 1 - 01/17/13 08:54 AM
Hey Wells Fargo - one of us is wrong - And It's NOT Me!  Part 1
I am currently working on a Wells Fargo short sale.  I have done lot's of Stanislaus County Short Sales over the last few years.  I have been selling real estate here in Stanislaus County for nine years now.  I have lived in Stanislaus County all of my life and that's over half a century.  (Putting it that way really makes me feel old)  I mention all of this because of what is going on with this particular Stanislaus County Short Sale with Wells Fargo.
(5 comments)

stanislaus county short sales: Stanislaus County Short Sales - Mortgage Foregiveness Extended! - 01/02/13 04:26 AM
Stanislaus County Short Sales - Mortgage Foregiveness Extended!
You may have heard by now that our elected officials got together and averted the "fiscal cliff"... for now.  One of the items that I and several of my Stanislaus County Short Sale sellers were very concerned about was the The Mortgage Forgiveness Debt Relief Act and Debt Cancellation.  This was set to expire on 12/31/12.   
Back in the days before this act was passed (pre 2007) if you successfully completed a short sale on your Stanislaus County home the amount of forgiven debt was considered income.  I know it doesn't make … (4 comments)

stanislaus county short sales: Stanislaus County Short Sales - Great way to end the year! - 12/31/12 07:36 AM
Stanislaus County Short Sales - Great way to end the year!
It's always a great feeling to be able to help a Stanislaus County homeowner out of a difficult situation with a Stanislaus County Short Sale.   I know it is a huge relief for them when we finally get the short sale approval from the bank(s) and even more relief when we actually close the sale.  
Of course it's always nice to hear from one of my Stanislaus County Short Sale sellers after the sale.  I got a pleasant surprise today when I received an email from Zillow.com.   One of … (6 comments)

stanislaus county short sales: Stanislaus County Short Sales & Chase Bank - Finally a Happy Ending ! - 12/29/12 06:30 AM
Stanislaus County Short Sales & Chase Bank - Finally a Happy Ending !
 
I have written about this particular short sale a couple of times now.  The latest post about this short sale was "Just another day as as Stanislaus County Short Sale Agent."   We were getting close to the approval and the buyers decided to get a divorce.   Before that it was "Thanks for More Gray Hairs Chase Bank - Part 2."   That was when the servicer on the loan was switched yet again.
To sum things up, on this particular Stanislaus County Short Sale the servicers were … (10 comments)

stanislaus county short sales: Just another day as a Stanislaus County Short Sale Agent - 12/05/12 09:49 AM
Just another day as a Stanislaus County Short Sale Agent
I have been working on a Stanislaus County Short Sale for several months now.  This particular short sale has been fun interesting.  I have written about this one before in my post Stanislaus County Short Sales - Thanks for more gray hairs Chase Bank - Part 2.  The banks have been the cause of all the twists and turns until today.
First a little background.  The home has both a first and a second mortgage.  The first mortgage was originally serviced by Seterus, then it went to LRC and finally … (3 comments)

 
Current information on Central California Real Estate. I specialize in Short Sales in Stanislaus, Merced and San Joaquin counties.


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