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Short Sale nightmare with B of A. 365 days..YESTERDAY! - 04/26/12 07:28 AM
Yes it's true. 365 days yesterday for this Short Sale with ONE note with B of A. What a complete disaster. I had a glimmer of hope about 4 weeks ago when the social media gal, Liz, called me. She was going to "escalate this file!". Well..several escalations later and I'm still waiting. This is my 4th qualified Buyer. Primary Residence in Lagune Niguel, California. One note and the Investor is B of A also. Note Value: Approx. $1,085,000 Offer price: $865,000 B of A approved $865,000 to close on 3/15/12, but that Buyer (my 3rd) walked also. By the time we (1 comments)
Another Short Sale APPROVED in La Quinta, California - 04/24/12 02:37 PM
This Short Sale was with a smaller mortgage company called Carrington Mortgage. The did a great job of communicating with me and the Negotiators were quick to respond and also to let me know if there was anything they needed.
51835 Avenida Alvarado, La Quinta; Short sale-Listed to acceptance in 67 days! List Price was $148,000, reduced to $135,000 and that is what was negotiated and accepted. No cost to Seller or buyer. Agents Commission was the full 6%. Conventional Loan to close by 5/25. Note Value: Approx. $385,000.
As you can see, the home is in great condition. Slab granite in (2 comments)
Short Sale in La Quinta..just listed! - 04/23/12 07:32 AM
This Short Sale is going to make someone VERY happy! Not the Sellers, but they're ready to move on. The Buyers of this gorgeous home in the Norman Estates in PGA West, however, will be laughing! 81-375 National Dr. PGA West $1,100,000 The Norman Estates at PGA West is a privately gated community of only 58 semi-custom homes. One wide, gently curving street with mature shade trees and homes on large lots well set back from the street, it almost feels like a street in a small town. Owners are neighborly, dogs are walked leisurly and golfers pass by in their (0 comments)
Palm Springs Valley Foreclosure numbers continue to drop.. - 04/19/12 05:02 AM
The Foreclosure home numbers continue to decline. Great, except if you are a buyer that REALLY wants to buy, but REALLY does not believe it. I have many buyers..particularly at the $350,000 and below price point that will NOT believe there will be multiples. Just not going to happen. They are CASH, so write the offer for less..period! Don't both looking at those comps..I know best. So..higher offers purchase the homes and the inventory continues to drop...yeah! Great for our Palm Springs area market! Palm Springs Foreclosures continue to drop in numbers... Our Valley is a resort area. Fantastic winter weather, (0 comments)
Mortgage principle reductions..they're coming.. - 04/11/12 06:57 AM
Great article in the New York Times this mornign concerning the mortgage principle reduction quandry. It is a wonder to me that it hasn't happened already, but Lenders/Investors just are not willing...yet. I have said for the past 3 years and continue to believe that this would be the single most advantageous event to stop the housing market decline. Keep people in their homes. Most homeowners don't want to leave, but they are becoming more and more educated about real estate and how and why the downturn occured. More and more are looking at their homes as part of their portfolios (2 comments)
Is my Buyer a...LEMON? - 04/09/12 05:35 AM
I found myself in a dilema this weekend. I have been working with a first time homebuyer that was referred to me by another client of mine. Her niece. She is a doll. Bright, interested in learning about the market, seems to want to buy her first home (daddy is paying), but...I have NOT been able to convince her or her father that the market in her price point here in Palm Springs, CA. is worth a full price offer. We finally went into Escrow on one home a couple weeks ago..yippee! She paniced and cancelled the escrow because the home (5 comments)
Easter Sunday in La Quinta, Calif. - 04/07/12 07:34 AM
Tomorrow is Easter Sunday and there is plenty to choose between here in La Quinta, California. The weather is gorgeous today, clear and warm..about 80 degrees and is predicted to remain the same, except a couple degrees warmer for Easter Sunday. Perfection! There will be all kinds of churches having family doings. Yesterday at the Coffee shop in Old Town I saw two little girls of about 2 years old. Both had matching Tutus on. Turns out they were their Easter skirts and they were "test driving" them. Gotta love it! Old Town La Quinta is offering Yoga in the Park (0 comments)
Does B of A give their Short Sale Appraisers a special "How to" book???? - 04/06/12 04:47 AM
I am convinced that many of the appraisers that work for B of A are given an instructional manual when they sign up. We know it's not the money they're being paid, so the appraisers must be getting a little somethin special on the side. What could that be? A B of A pat on the back? More Short Sale appraisals from B of A? I think that when B of A markets how they are "helping neighborhoods turn around with their super-duper Short Sale programs", I think they must mean they are trying to increase the price/sf of that neighborhood (8 comments)
Palm Springs housing Investors..are they good for us? - 04/03/12 06:41 AM
I've been showing lots of property to Investors..I'm sure this is not startling for any Realtors right now. My Palm Springs Valley has pockets that are ripe for investors looking to buy low, re-hab and either lease or flip. I believe this is a good thing for La Quinta and my valley. The numbers of foreclosed and abandoned properties will continue to be absorbed, and better yet..be cleaned up! Would I prefer homeowners to purchase these properties? Yes. But, there are not that many of them and even if there were..they cannot act as quickly as the Investors do. What are (1 comments)
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.