mortgage: I have a Bank Owned Condo, in San Jacinto, CA that is Hard to Sell...and Here's why! - 11/26/09 03:39 PM
I suppose, I as a local REALTOR®, am fortunate that the Hemet - San Jacinto Valley in So Cal is not overbuilt with condos, as much of Southern California is. All of our condo inventory, in the local real estate market is older - most dating back to the early 1990's … (2 comments)
mortgage: LAW PROFESSOR PROCLAIMS, "WALK AWAY RENEE" - 11/05/09 02:19 AM
LAW PROFESSOR PROCLAIMS, "WALK AWAY RENEE"
Alright, University of Arizona Law School Professor Brent T White was not actually quoting the 1966 pop hit, Walk Away Renee, by the Left Banke but according to a Wall Street Journal article published on October 30th he is indeed an advocate of the … (91 comments)
mortgage: Blood In - Blood Out...New FHA Rules Before Congress - 10/05/09 10:28 AM
Congress has another band-aid they want to put on the economic crises this country and the world are currently experiencing...at a cost that would be picked up by a segment of the population that can least afford it - first time homebuyers.The goal of a new bill, H.R. 3706, introduced by … (8 comments)
mortgage: "strategic defaults" - whoda thunk? - 09/30/09 02:47 PM
American Values certainly have changed, haven't they? I know they are a lot different than when I grew up as a kid in the 1950's and ‘60's. Then again, a lot has changed since then, hasn't it?Well, needless to say I was pretty blown away when a I read a short … (8 comments)
mortgage: Has Technology Evolved the Real Estate Business in the Last 5 Years? - 09/28/09 10:26 PM
Reflecting on how the real estate business model has changed since I was first licensed five short years ago really is amazing. The way I do business now is so much different from the ‘old school' business model that I was recruited into.Perhaps the biggest difference is the website. Five years … (4 comments)
mortgage: The Hemet - San Jacinto Real Estate Market is Red Hot - Shout Out to Hilary Wilkinson - 09/15/09 10:42 AM
Real Estate in the Southern California bedroom communities of the Hemet - San Jacinto Valley has been red hot all year long. The community in South West Riverside County region of the Inland Empire have been dominated by Short Sale Listings and Bank Owned Sales for the entire year. It is … (2 comments)
mortgage: Now Here are 3 Guys Who Deserve to go to JAIL - 09/14/09 10:24 AM
Over the weekend, the Los Angeles Times published a web article about 3 Los Angeles Mortgage Brokers who did more than help their clients lie on applications to close deals and collect commissions...they forged documents and took refinance proceedings.I found a similar article on line at examiner.com, that opens with, "This … (13 comments)
mortgage: Is the IRS Ready to Catch The Liars in the Liars Loans? - 09/04/09 10:11 PM
A recent Wall Street Journal article reports that the IRS is expanding a program that will mine it's data bases searching for inconsistencies between what a tax payer earns and what the banks report to the IRS as mortgage interest.Just as employers and others report income to the IRS on 1099 and … (4 comments)
mortgage: The Next Wave of Bad Loans - Option Arms - 08/30/09 04:56 PM
A friend of mine from San Diego confided in me that they are in serious trouble with their mortgage. My friend earns good money - and with his wife's income they are way above the medium level for San Diego County - which is high to start with. I'll call my … (116 comments)
mortgage: Who is Freddie and Fannie and What do they Do? - 08/02/08 09:37 PM
There has been a lot of buzz in the air with Congress passing and the President signing the new housing bill into law on July 30th, 2008.
I have not read the bill itself, but have seen numerous analytical articles - both pro and con on the topic. One of the big provisions … (0 comments)
mortgage: Buying an REO Property – The Pluses and the Minuses - 01/21/08 01:36 PM
In today’s Hemet California Real Estate market and the surround area known as South West Riverside County in the region of Southern California known as the Inland Empire we are one of the hardest hit areas in the entire country when it comes to foreclosures and REO’s. Now is an excellent … (3 comments)
mortgage: Are Their Advantages to a Particular Closing Date? - 01/20/08 11:16 AM
When representing a buyer and writing an offer, one of the question I like to pose, “When do you want to close escrow?” At least 90% of the time, no one has a clue as to when or why they should consider the options. First, let me say that as a … (0 comments)
mortgage: Just What is an REO? - 01/11/08 01:13 AM
REO stands for the term “Real Estate Owned”. This is a banking term used to describe real estate that a bank owns, typically because it was taken back from the homeowner through the foreclosure process. In a good real estate market, REO’s are not very common. However, in a market like … (4 comments)
mortgage: Hemet Real Estate Market is REO Driven - 12/24/07 06:57 PM
The Hemet, CA Real Estate market is becoming an REO driven market. An REO property, in Hemet, is one that has already gone through the foreclosure process and has been taken back by the mortgage holder - typically either a bank or an investor. The Hemet REO property is not considered … (3 comments)
mortgage: Buying New Construction in Hemet, CA: Tip #6 - CAUTION: Builders Financing - 12/24/07 12:35 PM
In today's "Buyers Market" there are many great bargains available in both the resale market as well as the new construction. Make sure you weigh all of your options. In Hemet, CA we do have many great opportunities to buy a home for sale either from the builder, the bank (as … (2 comments)
mortgage: Tips for buying a REO / Foreclosure Home - 12/20/07 10:07 AM
The Inland Empire market in southern California has certainly gone through a major transition in 2007, setting the stage in 2008, for what I project will be the best buyers market we have ever experienced.Homeowners who would like to sell for any of a number of ‘normal' circumstances will certainly be … (6 comments)
mortgage: How Many Ways Can a Mortgage Bank Throw a “Hail Mary”? - 12/18/07 10:13 AM
There is no doubt that 2008 will go down as one of the worst years for those in the mortgage industry and those of us whose businesses exist through the mortgage industry.Certainly it has been a year of changes, if nothing else.In this mornings industry news I read that GMAC is … (3 comments)
mortgage: Short Sales: A Revised Strategy: Seller Documents - 12/10/07 12:51 PM
I have covered in previous blog articles numerous aspects of a short sale. I have discussed it from the standing of the homeowner (seller), from the investor and even the ultimate homeowner (buyer). I have discussed in great detail what an agent needs to know in order to successfully process a … (12 comments)
mortgage: Now, Who is Helping Who? ... and a Few more Questions that need Answering... - 12/06/07 09:05 AM
We knew there would eventually be some sort of government intervention into the current housing situation in this country. Just this week the Treasury Secretary, Harry Paulson, proposed a plan that would either freeze or fix the rates on adjustable rate mortgages (ARM).On the surface, this appears to be good for … (6 comments)
mortgage: Mortgage Protesters Try to Save Homes From Foreclosure - 09/12/07 11:15 AM
Mortgage Protesters Try to Save Homes From Foreclosure : RISMEDIA reported on 9/10/07 that busloads of protesters arrived at both the Greenwich, Connecticut corporate Headquarters as well as the California offices of Carrington Capital Mortgage raising the awareness that Carrington is refusing to renegotiate subprime loans payments that are continuing to … (10 comments)
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I suppose, I as a local REALTOR®, am fortunate that the Hemet - San Jacinto Valley in So Cal is not overbuilt with condos, as much of Southern California is. All of our condo inventory, in the local real estate market is older - most dating back to the early 1990's … (2 comments)
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