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reo: Some Homebuying Tips in Today's Market - 11/17/08 03:11 PM
Regardless of what you might have heard about the home buying market, the statistics in Southern California show that this is a great time to buy. First time buyers, investors, and even all cash buyers have found the current market conditions to make owning a home more affordable and easier than ever before. However, having sold Foreclosure and Short Sale properties much of the year, I have some tips to offer for those looking to purchase a home in the next few months.
Condominiums and Town-homes: While the inventory has increased on many of these desirable alternatives to the Single-Family home, … (0 comments)

reo: THE NUMBERS ARE IN!! SALES INCREASE 16% FOR THE MONTH OF JULY - 09/18/08 01:37 PM
The San Fernando Valley real estate market is reacting favorably to historically low interest rates and affordable pricing as existing single-family home sales have increased 16.2 percent in July from a year ago.
Mary Funk, President of the Southland Regional Association of Realtors states, "The numbers indicate that the market is at the bottom with sales on the upswing.  Demand is increasing because people realize that what they could not afford before they probably can afford now. Come next year, people who are waiting will find that they will be paying more."
In fact the median price of a single-family home … (0 comments)

reo: FORECLOSURES, GREAT DEALS WITH HIGHER RISK PT III - 08/28/08 02:46 PM
Banks always have the buyer's sign seller addendums.  To protect the Bank/Seller, they always have the Buyer's sign addendums in addition to a standard purchase agreement.  Mind you, the addendums are drafted in such a way to protect the interest of the Bank and not the Buyer, so you must thoroughly read the contract and make sure that you understand the terms and conditions. Each time I sell a foreclosed property I spend at least a couple hours reading these addendums so that I can explain the terms to my Buyer clients and answer any questions that they may have.  It … (0 comments)

reo: FORECLOSURES, GREAT DEALS WITH HIGHER RISK PT. II - 08/28/08 02:45 PM
To continue my rant on this hot topic on foreclosures where's part II explaining why buying foreclosures have higher risk:2.       Foreclosures are sold AS-IS.  I tell all my clients that when you buy a foreclosed property you are purchasing it AS-IS, which means the bank who owns the property will not agree to complete repairs or provide any credits in advance.  So the tactic of buying a foreclosure and then asking for a HUGE repair credit won't work.  However, the buyer sill has a right to ask, after all the worst thing that could happen is that they say NO! I … (0 comments)

reo: FORECLOSURES, GREAT DEALS WITH HIGHER RISK - 08/28/08 02:43 PM
To the 1st time homebuyer or novice real estate investor, the word FORECLOSURE or REO means a good deal.  While in most cases this is true, many buyers are surprised to learn that buying Foreclosures are riskier than purchasing a home owned by a traditional home seller who is not in distress.  So you may ask what makes purchasing a foreclosure so risky?  Having recently represented several buyers in the last 60 days, I've learned the pitfalls and risks associated with purchasing these GOOD DEALSHere's what I've learned:1.      A hot foreclosure deal usually gets many buyers to compete for the same … (0 comments)

reo: MULTIPLE OFFERS!!! HAPPENING AGAIN?? - 08/28/08 02:42 PM
Yes it's true!  I'm seeing multiple offer situations on well priced properties.  Multiple offers can be seen on Foreclosure and Short-sale listings the most. The general impression out there is that Real Estate isn't doing so hot right now.  While it may be true that number of sales are their lowest in over a decade.  Single family homes in the $300k-$400k range are attracting multiple offers from qualified buyers who are utilizing special FHA loans which require only 3% down payment and to everyone's surprise there are buyers who are placing offers with ALL CASH and 20-50% down payment.  With inflation … (0 comments)

 

Mark Gonzales

Sherman Oaks, CA

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Rodeo Realty

Office Phone: (818) 986-7300

Cell Phone: (818) 414-1914

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