Menlo Park Distressed Property Watch 2011 - 12/30/11 09:04 PM
It's the end of the year so time for the round-up of distressed property sales in Menlo Park. So here's what happened:
 
Single family and condo townhomes 2011:
Total sales:  451
Short Sales: 39
REO:           22
Distressed sales as a percentage of total sales: 13.5%
Compare to 2010
Total sales:   431
Short Sales:   28
REO:            29
Distressed sales as a percentage of total sales:  13.2%
 
My conclusion:
The percentage of distressed properties in Menlo Park are  very similar to 2010 at 13.2%, however, there is one big difference. In 2010 … (0 comments)

Palo Alto Distressed Property Watch: 2011 - 12/30/11 12:01 AM
It's the end of the year so time for the round-up of distressed property sales in Palo Alto. So here's what happened:
 
Single family and condo townhomes 2011:
Total sales:  590
Short Sales: 13
REO:           9
Distressed sales as a percentage of total sales: 3.73%
Compare to 2010
Total sales:   563
Short Sales:   8
REO:            6
Distressed sales as a percentage of total sales:  2.5
 
My conclusion:
The percentage of distressed properties in Palo Alto are not enough to make a difference in the market value of … (0 comments)

Why Does Bank of America Keep Rejecting Me - 12/28/11 09:00 PM
I was starting to feel like the last player picked in dodge ball. The rejections were really hurting, especially since there was never any reason given. Just messages saying your supporting documents were rejected. Oh the pain!
I finally got a really nice B of A negotiator on the phone today who gave me a simple explanation, the buyer's proof of funds were downloaded as a web page instead of being a PDF of the originals, and the current policy is only original statements are accepted, no web page screen shots.
I guess I should not be surprised. Just yesterday I … (5 comments)

Be Careful Your Redwood City Loan Modification Attempt Does Not Lead To Foreclosure - 12/27/11 08:56 PM
Sad story. A client told me last February that she was not able to make the payments on her $750,000 home loan. The house is now worth about $400,000 and this person wanted to get a loan modification and get the principle reduced. I can not tell you how many times I hear this story and how few times I have heard that there actually was a principle reduction. Actually I can tell you how many times I have heard of a principle reduction, once.
Ok, so it is bad enough that banks have been unwilling to reduce principle but things … (0 comments)

Why A Palo Alto Short Sale Agent is Working on Christmas Eve - 12/24/11 06:37 PM
One of the best things that has happened to short sales in the last couple of years is the on line platform for processing a short sale. There are several platforms in use, but Equator is one of the more popular ones, and is the one used for Bank of America and Wells Fargo Short Sales. So, instead of your agent having to fax all the documents, usually several times, the short sale documents are uploaded as PDFs onto the Equator web site. In order to keep the process moving forward Equator will assign a task to be fulfilled by the … (2 comments)

San Jose Short Sale Coming Soon: Listed for $90,000! - 12/21/11 03:48 PM
 
A Post Christams Present!
This true one bedroom condo is a real gem.  You get maple cabinets, an inside washer dryer, high ceilings, a large bath, and beautiful architecture, all for only $90,000 (subject to lender short sale approval.) The complex has a pool and secure parking, a locked front door, and is only minutes from downtown San Jose and all of the culture and night life that this lovely city has to offer. Rarely can you find so much at such an affordable place in such a great location.
472 square feet
HOA fees $289.15
Located in desireable Sienna … (4 comments)

What I Learned About Chase Offering 3rd Liens From a Redwood City Short Sale - 12/20/11 05:31 PM
I know a lot of you are going to think I am crazy but I really love short sales. I am sorry that the market is such that there are many people who need to sell their homes short, but that is the current reality. Given that reality there are many things about the short sale process that I enjoy, fewer things that I just tolerate, and even fewer I hate. 
I HATE PRIVATE THIRD LIENS ON SHORT SALES!!!! I can not emphasize this enough. 3rd liens are always tough, but private ones are the worst, because very often there is … (5 comments)

Send In Your Paperwork For Your San Jose Chase Short Sale Before Your Offer - 12/18/11 09:03 PM
There are several different types of short sales that will approve your price and the seller's eligibility before you get an offer. If you do not qualify for one of those programs (like HAFA or Bank of America co-operative short sales) then you can try to do a traditional short sale.
In most traditional short sales after the seller signs an offer, his/her short sale real estate agent will send the offer and all of the seller's financial documents to the lender. This can be a time consuming process, and if the lender is still using faxes to gather information rather … (1 comments)

A Plea For More Silicon Valley Listings in December - 12/17/11 08:42 PM
It happens every year. Agents tell their sellers that they should wait until after the holidays to put their homes on the market. They say no one is looking during December so don't bother. Translation: Agent wants much needed and deserved time off during the holidays, or seller has a lot of family coming and does not want people traipsing through their home with all of the activity going on.
Other side of the equation: Very busy professional gets some down time the last two weeks of the year. Or, out of town relocation buyers are coming to the area to … (0 comments)

2 Big Challenges to Menlo Park Short Sales - 12/14/11 06:56 PM
There are many obstacles and challenges to closing a Mountain View Short Sale, but there are 2 that I find the most challenging to get around.
1. A private 2nd or 3rd lender: These are often more difficult to negotiate than a bank. There are homes where the seller may have taken back a note for a second or third, or where a relative may have invested with a loan thinking that he/he was going to make money or at least not be left holding the bag for a relative,
2. A person on the loan who makes no contribution but … (0 comments)

Don't Go To That New Home Development in Sunnyvale Without an Agent - 12/14/11 05:28 PM
First time home buyers almost always start their home search on the internet. Next is to go out looking at open houses and driving neighborhoods. Eventually they usually pick a real estate agent to help them buy their first home. Along the way, they often stop in to a new home development. That is when the trouble can potentially start.
If a buyer goes into a new home development with out an agent the first time they will generally not be able to use a realtor to help them if they decide to purchase in that development.  There are some exceptions … (0 comments)

Should You Start Your Mountain View Short Sale In December? - 12/10/11 06:43 PM
Yes. You should start your short sale as soon as you decide this is the best option for you. Short sales are not for everyone, but if you have decided this is the way you want to go then do not let the holidays stop you. ther is a lot to do to acomplish your short sale so you should get started as soon as you make that decision. Here are some steps you need to take:
 
1. Find a real estate agent to help you who knows what he or she is doing. If the agent you would trust … (0 comments)

Why Is December Such a Good (or Bad Month) to Shop for a Mountain View Home? - 12/04/11 05:17 PM
It's December already. Is this the year you thought you would buy a home, but didn't? Well it is not too late, and there are some real advantages to buying in December. There are some homes that may be better deals than you think.
1. Empty homes are easier to view and often easier to buy than homes where the owners are still living. You do not have to worry about holiday decorations and company visiting.
2. New home developments are open for business and if there is excess inventory it could be in your favor.
3. Short sales, especially the … (2 comments)

It's a Good Idea To Check Your Redwood City Trustee Sale Postponement - 12/04/11 04:08 PM
Unfortunately many homeowners get behind in their mortgage payments. The good thing is that there are many programs out there to help homeowners including loan modification programs or short sales.  Very often a trustee sale date is set before a short sale or loan modification is completed, but this date is most likely be postponed in order to give the homeowner the opportunity to work thinking out with the bank. The homeowner or their agent needs to ask the bank representative with whom they are working to postpone the trustee sale date. That rep will then make sure it is ok … (0 comments)

Dec 10, 2011 Deadline for this Year's California Property Taxes - 12/04/11 01:46 PM
It's that time of year again. Christmas lights are going up, holiday music is starting to get annoying, menora candles are purchased, and the big one: PROPERTY TAXES ARE DUE.
 
This is a bad one to forget because the penalty is high, 10% of the amount due. So if you owe $2500 and you are late the fine is $250, unlike a $35 fine on a credit card.
If you can not find your tax bill you can get it online. In Santa Clara County go to http://payments.scctax.org/payment/jsp/startup.jsp
In San Mateo County go to: http://sanmateocountytaxcollector.org/securedTaxes.html
 
After you pay them you can … (0 comments)

 
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Marcy Moyer C.D.P.E.

Palo Alto, CA

More about me…

Keller Williams Realty Palo Alto Probate & Trust Specialist

Address: 505 Hamilton Ave Ste 100, Palo Alto, Ca, 94301

Office Phone: (650) 619-9285

Cell Phone: (650) 619-9285

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Up to date information on real estate in the Silicon Valley and greater San Jose/San Francisco area.
Contact Me
Interested in selling your home? Contact me to get a professional estimate.
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Marcy Moyer
Call: (650) 619-9285
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