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foreclosure: Short Sale Listings...Do you hold Open Houses... - 07/08/11 04:57 PM
What's your experience with offering Open House in this market when your the listing agent of a Short Sale?  
If you believe they are effective and bring offers how do you track that? What other forms of advertising do you offer the seller other than Open House showings? How often do you hold Open House showings What's your best marketig vehicle for short sale listings? Thanks for responding!
… (1 comments)

foreclosure: Stop Spamming My Fax With Bogus Offers! - 11/01/10 01:39 PM
I rarely voice frustration on a public forum regarding fellow real estate agents, but I'm compelled to share my perception today of the "Real Estate Agent" that does not value their services.  It makes it extremely difficult for those of us who do value our time and services and don't make a habit out of "working for Free".
Over the past several years our business has been focused on listing and processing short sales, we very rarely work with buyers. But, when we do assist a buyer in this market we are sure to have the buyer pre-qualified with a major lender … (2 comments)

foreclosure: California Senate Bill (SB) 1275 Passed This Week More Protection for Homeowners - 06/04/10 07:21 PM
This new bill will protect home owners facing foreclosure on their Single Family residence by:
Making it mandatory for mortgage servicers, mortgage companies and banks to file a “declaration of compliance” stating that they have followed the CA state foreclosure laws. These same servicers must serve the homeowner with an application to complete a loan modification. Also, if the home is sold at auction due to an error on the servicer, the homeowner has recourse and can file a suit against the servicer. What’s interesting is that there has never been a law to protect homeowners in CA…Imagine that!
Off to … (2 comments)

foreclosure: According to The Journal (WSJ)...U.S. Housing Inventories Are Up...With More To Come - 05/17/10 02:51 PM
 

Sometimes it seems that Kim and I bring nothing but bad news for the housing industry...
However, we are eternal, not naive, optimists.
When markets are down...then opportunity is up.  When markets are up...then opportunity is up...now that's optimistic.
We live in an interesting time in a fantastic industry that has many variables.
It's what you do with those variables that determines your success or failure.
Now for more optimistic news...
Wall Street Journal released a report on home inventories in the Top 27 DMA's in the country...Chicago leading the way at 68,000+ homes on the market as of April 30, 2010
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foreclosure: Kris & Kim Darney Answer Questions About Short Sale Myths - 04/09/10 01:43 AM
Kris and Kim Darney answer most frequently asked questions from homeowners that are considering a Short Sale. As of 2009 more than 11.3 million residential properties fell into negative equity. That equals 24% of all homes in America with a mortgage. Consider walking outside of your front door, and realizing that 1 in 7 of your neighbors are in jeopardy of foreclosure. Questions regarding tax ramifications are high on the list. We’re not CPA’s, but do understand the mortgage debt relief act that President Bush put in place in 2007 that works with the IRS to eliminate any Capital Gains taxes … (2 comments)

foreclosure: HAFA Short Sales…Kris & Kim Darney Talk About the Benefits to Home Owners - 04/09/10 01:39 AM
Kris and Kim Darney highlight HAFA....Home Affordable Foreclosure Alternative rolled out April 5th by our Treasury Department as an extension of HAMP....Home Affordable Modification Program.  Some of the highlights of HAFA include an incentive of up to $3000 for relocation costs that is paid to the home seller at close of escrow with a successful short sale.  Non recourse settlements are also a huge benefit to the homeowner under the new program.  If you are looking for alternatives to foreclosure, a short sale may be the answer.  We will schedule a discreet confidential meeting with you to answer all of your … (0 comments)

foreclosure: HAFA...Feds Help Home Owners Kris & Kim Darney Discuss - 04/04/10 01:45 PM

Real estate specialist Kris Darney on Thursday walks through a Rancho Cucamonga home whose owners are hoping it will be purchased in a short sale instead of being lost to foreclosure. (Mediha Fejzagic DiMartino/Staff Photographer)
Read more:http://www.dailybulletin.com/news/ci_14814460#ixzz0k9pQ41gK
Feds aim to ease pain
New U.S. program to start MondaySandra Emerson, Staff WriterCreated: 04/03/2010 07:08:53 AM PDT
Short sales have become more appealing to homeowners who are underwater on their mortgage and are looking to get out without going into foreclosure. But the time it takes to process these type of sales has been thought of as long rather than short.A new … (0 comments)

foreclosure: Some Light Reading…Life In The World Of A Short Sale Real Estate Agent - 06/03/09 12:41 PM
Today was one of those days…
Up’s and down’s from the moment the phone calls started at 6:00AM.
In the world of Short Sales, there are  so many moving parts.  Usually a seller has 2 loans to deal with and most of the time they’re not the same lender. Needless to say that’s a circus in itself!  Even when the lender holds both liens on a property we find that the departments don’t share information…
Then there’s the buyers agent…oh boy, could I say a lot on this topic.  But to keep it “light” let’s just say that some buyers agents … (0 comments)

foreclosure: Times Are Tough...But - 05/06/09 07:48 PM
This is a great motivational video…a short 6 minutes…but praiseworthy.
As agents we’re faced with “Peaks and Valleys.” It’s how you address the steep climbs when your in the valley’s that tests our reserve. Challenge yourself to go the extra mile.
Be a leader. By sweatin’ the “climb” you’ll make a huge impact in another persons life.
As leaders in our industry…we can move mountains. Keep the faith and push yourself everyday to be better than you were the day before.
This video was shared by Michael Ojeda and is a clip from “Facing The Giants”.
Go Get Em’
Best,
Kris
… (2 comments)

foreclosure: California Defaults Reach Record High - 04/23/09 03:25 PM
According to MDA Datequick statistics (Monitors Real Estate Activity),  135,431 NOD's sent to California homeowners in 1st quarter of 2009...up 80 percent from 4th quarter 2008.
What changed?
Banks sat on their hands while the government restricted foreclosures with moritoriums. The moritoriums expired and the flood gates opened.
What's going to happen?
The next wave of "toxic loans" are due to correct and hit the market. These loans have projected to have the greatest potential of default. The well known banks that originated these loans are none other than Countrywide, Indymac,  Wells Fargo, WAMU (now Chase), World Savings (now Wachovia Owned … (2 comments)

foreclosure: California Foreclosure "Shadow Inventory" between 80,000 & 100,000 Homes. Can It Get Any Worse? - 04/09/09 01:26 PM
Shadow inventory is the number of foreclosed homes not currently on the market.
What this means is that when this foreclosed inventory is unleashed, prices will be pushed down much further than projections estimated. Current estimates are a continued drop of 10 to 30% through December 2010.
RealtyTrac compared these figures to it's current inventory which only reflect 30% of foreclosures were listed.*
Also, there are many foreclosure moratoriums that are simply hedging the inevitable foreclosure. (CA SB1137 is one) These homes have not been reported, but they could be double the current projections.
What does this mean?
Continued steep drops … (3 comments)

foreclosure: California Homes in foreclosure Overvalued by More than $200,000.00 - 03/18/09 09:55 AM
In a recent release by Foreclosure Radar, the average California home in the deafault process had a mortgage value exceeding $200,000 of Current Market Value (CMV) for the month of February 2009.  A 189% increase in negative equity year over year.
Also released in this same report, there were 17,131 foreclosures in February '09.  An 11.9% increase over the previous month.
For more Information contact:
Kris & Kim Darney Platinum Real Estate 714-615-7605 … (0 comments)

foreclosure: Recent Report: On Average California Properties Over Valued by $200,000.00 - 03/13/09 01:43 PM
In a recent release by Foreclosure Radar, the average California home in the deafault process had a mortgage value exceeding $200,000 of Current Market Value (CMV) for the month of February 2009.  A 189% increase in negative equity year over year.
Also released in this same report, there were 17,131 foreclosures in February '09.  An 11.9% increase over the previous month.
For more Information contact:
Kris & Kim Darney Platinum Real Estate 714-615-7605 … (0 comments)

foreclosure: Mr. Obama Tried to Help...Just Too Much to Overcome - 03/06/09 03:51 PM
Mr. Obama has been given the daunting task of reviving the nations economy.  the main concerns on most Americans minds is that of the precipitous position of their mortgage and home values.In an effort to pacify his constituents, Mr. Obama rolled out the Home Affordable Modification Program March 4.The structure is sound...unfortunately the reality is unrealistic for many Americans.Why is it unrealistic?1. Your current homes value (Current Market Value / CMV) cannot exceed 105% of your primary (1st) mortgage.ex: A. Your homes value is $400,000.B. Your Mortgage amount cannot be higher than $420,000 or you will not qualify2. No reduction in … (0 comments)

foreclosure: Home Values Plummet $2 Trillion in 2008 - 02/24/09 07:57 PM
Short Sales for 2008 hit an all-time high in Arizona, Nevada, California and Florida.
With a rising number of adjustable-rate mortgages on the verge of resetting, continued economic instability and plummeting housing values, the Federal Reserve predicts that new foreclosures will reach about 2.25 million the next twelve months.
In 2008, distressed property sales (Foreclosures and Short Sales) comprised 40% of U.S. home sales. A Short Sale occurs when a lender agrees to accept less than is owed on a home loan.
With these staggering predictions, call me crazy…but you  would think that the words “Short Sale” would … (0 comments)

foreclosure: Short Sales Are the Right Answer for Your Negative Equity Homes or Investment Properties - 01/23/09 02:01 PM
If you find yourself in a situation of negative equity in your home or investment property…and you have an increasing monthly mortgage payment, you need to Short Sell the property.
This is easy for me to say, however, it’s about quality of life.  You and your family are struggling to make that overwhelming payment monthly only to be burdened financially.
In fact, in most areas of the US you can lease a like property to your current home for much less per month.  Save the difference and in 2 to 5 years you can purchase again on a “1st time buyer … (0 comments)

foreclosure: Multi Family Investment Blues? Our short sale system works. - 01/22/09 05:40 PM
If you purchased investment properties over the last 4 year's and you used any of the creative loans being offered at the time, there's a good chance your in a negative cash flow.
If so, cut loose this anchor and "short sell" it...today.
We specialize in negotiating sales of distress properties.  If your burdened or overwhelmed by an over encumbered asset, then we will sell it for you, negotiating with the banks and getting off your books.
And...most important, you don't pay a commission or fee with our program.
We get paid by the bank!
 
Our list of successfully negotiated … (0 comments)

foreclosure: It's not about being the most Popular when it comes to choosing a Real Estate Agent for your Short Sale! - 08/29/08 07:52 PM
Choosing A Real Estate Agent, Once You Decide To Short Sale Your Home… August 29th, 2008<!-- by Admin --> · No Comments If you have made the decision to do a short sale, there is another tough decision to make. Representation. Who are you going to use to represent you in the sale of the home, negotiate, and do whatever it takes to close the sale (within legal parameters, of course).
In days past, sellers chose real estate agents using what I call “voted most popular”. You know, if you see their face every where they have to be really good … (0 comments)

foreclosure: California Homeowners in trouble...read this! - 08/11/08 01:53 PM
As a result of the subprime loan market collapse, numerous bills were introduced this year in the California Legislature, including the recently enacted SB 1137.  Within this highly charged political environment, the California Land Title Association (CLTA), along with trustees, escrow companies, and lender groups originally opposed this legislation, which subsequently underwent a series of significant amendments before being signed by the Governor earlier this week.
SB 1137 became effective July 8th as an urgency measure.  However, requirements pertaining to the notice of default and the posting and mailing of an entirely new notice will not become operative until 60 days … (0 comments)

foreclosure: Series of Short Sale Myths….Fact or Fiction? #4 - 08/10/08 10:47 PM
With so many different things happening in the word of Short Sales, a question that comes up daily......
 
Q:How do you get paid? (the real estate agent) A: The bank (your lender) will pay commissions along with all the other usual closing costs.
That’s important for you to know. When your in financial duress the last thing you want to hear is that to avoid foreclosure it’s going to cost you money! We also want to point out a very common question that every seller asks us at the time an offer has been made on the property….
Many offers … (0 comments)