Free Webinar - Short Sale Lead Generation Techniques - 10/31/11 07:28 PM
If you have nothing planned for this Thursday, November 3, 2011  at 10:00 a.m. PST, then I would love for you to join me for a webinar that focuses on Proven Short Sale Lead Generation Techniques.
Everyone agrees that the short sale is the transaction du jour.  Never before has there been a time when so many individuals throughout the United States were in a position to list and see their homes. So, why not take advantage of this opportunity in order to learn how to list more homes than ever before and, as a result, fuel your real estate career for many years to come?
… (8 comments)

Two Tips for Writing Offers on Short Sales - 10/30/11 10:00 AM
Cue the violin music.
This is the tragic (yet typical) story of a buyer’s agent and her buyer who put an offer in on a short sale that ultimately ended up in foreclosure. The buyer showed an interest in living in a home in a specific neighborhood. There were many properties to choose from, and this buyer liked one particular home because it was the least expensive (please remember this sentence for later in the story).
So, in May, the buyer wrote an offer on this affordable short sale, and the seller accepted the offer. The buyer’s agent had very little … (32 comments)

Does Operator Error Apply to Short Sale Transactions? - 10/28/11 12:06 AM
I recently heard the following statistic: “90% of problems people have with their computers are due to operator (user) error.” And, while I have tried to confirm that statistic online, I have been unable to do so. Nevertheless, I am still thinking about that number: ninety percent. 
What if 90% of the problems that people associate with their short sale transactions are due to user error? And, more specifically, who is the user or operator? Is it the buyer’s agent? The buyer? The listing agent? The seller? The buyer’s lender? All of a sudden, there are so many people involved in … (6 comments)

The Skinny on the New HARP Refinance Program - 10/25/11 10:06 PM
The HARP (Home Affordable Refiance Program) will be modified soon, government officials say. Many more homeowners will be eligible for the program. Here's what you need to know about these modifications:
HARP General Information
The Home Affordable Refinance Program (HARP) is a government mortgage program, first introduced in 2009 as a means to help underwater homeowners.
HARP allows “underwater” homeowners to refinance their homes, but there are many criteria necessary to qualify. HARP is for mortgages secured by Fannie Mae and Freddie Mac only. 
The Treasury Modifies HARP
When HARP was first launched in 2009, the government said that the program would help … (59 comments)

Buying a Downtown Escondido Home for Sale - 10/24/11 12:01 AM
The City of Escondido has so many distinct parts. It is comprised of four ZIP codes, and each area has its own climate and culture. Lomas Serenas, Rancho Verde, Sonata, Eureka Springs and Emerald Heights are just a few of the neighborhoods of Escondido.
One area that attracts a very specific kind of buyer is Downtown Escondido, also known as the Old Escondido Historic District. Valuing the community's unique heritage, the City of Escondido established the district in 1989. It features 900 homes built in the mid-1880s to date. The Old Escondido Historic District is bounded by 4th Avenue on the … (5 comments)

The Short Sale Super Highway May Have Some Lane Closures - 10/22/11 09:56 AM
Communication is the key to success in just about everything. It will come as no surprise to you that effective and continuous communication is also important when dealing with a short sale transaction. Recently, I advised a Realtor® friend that the his short sale transaction had been submitted to the investor for approval Also, I reminded him that the Trustee’s Sale date for the property was still scheduled for the end of the month.
That last sentence (the one about the sale date) led to an interesting conversation about the California foreclosure process and auction (or Trustee) sale dates. Let me … (9 comments)

Top Secret Short Sale Package Preparation Tips - 10/20/11 09:24 AM
If you are a short sale listing agent who uses Equator to process short sales, you know that the Equator system will task you and you will upload your items at the request of the electronic system. With Equator, your main responsibility as a listing agent or short sale processor is to have collected the correct items for the short sale package and to make sure that you have them on hand in order to process your short sale.
On the other hand, if you are required to send your short sale package to a short sale lender via fax or … (12 comments)

Buy a Short Sale in Escondido California - 10/18/11 09:44 AM
Our office recently was able to short sale approval on a property in Escondido (two loans with the two top lenders) and closed the transaction a few days ago.
This was a fairly easy short sale to process. It took approximately 8 weeks to obtain both approval letters, and then the buyer was given 45 days to close the transactions. 
One of the reasons that this short sale went so smoothly is because the buyer’s agent set the appropriate expectations and discussed buying a short sale in great detail with the buyer prior to going out shopping for a home.
First off, … (4 comments)

What Elvis Presley, Michael Jackson and Short Sale Buyers Have in Common - 10/16/11 07:57 PM
Now and again, I come across interesting real estate articles that reflect on the phrase, “Cash is king.” Of late, I’ve seen a few articles that touch on the topic with interesting perspective. The question that these posts seem to address is this: When writing an offer on a short sale, is the cash offer king (read: the best offer on the table)? 
I guess the real answer to that question is that it really depends upon your definition of the word king. Receiving the title of king occurs in a variety of ways. For Elvis and for Michael Jackson, king … (37 comments)

Escondido Short Sale Seller Needs to Price It Right - 10/14/11 12:03 AM
I recently had a chat with a prospective Escondido short sale seller who bought his gorgeous home five years ago and put down a large down payment. His heart is broken. His $200,000 down payment is gone—unless he waits for the market to turn so that he can regain the lost equity in his home. 
Unfortunately, because he needs to move for a new job, he cannot wait for the market to turn. This Escondido short sale seller needs to sell his Escondido home as a short sale in Escondido right now.
This Escondido short sale seller stopped making his mortgage … (6 comments)

Latest HAFA Report Card – Talk About a Face Plant - 10/12/11 12:02 AM
I’ve just spent some time watching ‘fail’ videos on YouTube. Originally, I was planning to insert one here in order to make a strong point about the latest reports on the Treasury modification program (HAMP) and the Treasury short sale program (HAFA). But, the truth is that all of the ‘fail’ videos involve small children or adults getting involved in some pretty harry activities—things that readers of the blog should not try at home.
Sadly, these Treasury programs have continued to demonstrate failing results—far worse than the skateboarder who does a face plant, or the boy who tries to flip off … (5 comments)

San Marcos Short Sale Seller Tries to Avoid Foreclosure - 10/10/11 09:25 AM
Dear Melissa: 
I am so confused and I am not sure how to proceed. I am selling my San Marcos home as a short sale and I have missed about 8 payments. The other day my agent told me that my house is going to be foreclosed on by the bank in 7 days. I’m doing a short sale, so they cannot foreclose, right? --Confused San Marcos Short Sale Seller
 
Dear Confused San Marcos Short Sale Seller in San Marcos:
I’m sorry to say that you have been given some misinformation. Just because you are participating in a short sale … (2 comments)

Free Productivity Tools for California Realtors® - 10/08/11 07:32 PM
Is the inbox on your desk piled high with paperwork? Do you have piles of folders, receipts, catalogs, and magazines on your kitchen counter? On your desk?
It’s so amazing all of the cool tools available to encourage us to go green, to be more productive and attempt to function paperless in the real estate world.
Here are a few of those tools: 
With respect to transaction management, there are several transaction management solutions that can help you to go paperless. Members of the California Association of Realtors® (CAR®) have free access to RELAY—an online platform for managing all of the … (8 comments)

Showstoppers and the Short Sale Transaction - 10/06/11 09:29 AM
A few weeks ago,I was talking with a short sale seller and his agent about what I like to call showstoppers. Now, in the real world, many people think of a showstopper as any aspect of a show with an act or activity so impressive that the show must be delayed until the audience quiets down. But, what I mean when I say showstoppers are terms requested by the buyer or the seller as part of the short sale purchase agreement that (if the bank does not agree) may cause the deal to go south.
When you receive a purchase contract … (7 comments)

Short Sales and Arm’s Length Transaction Agreements - 10/03/11 10:24 PM
Many people are often raiser their eyebrows when they hear that they cannot just buy any old short sale that is on the market. For example, I get a lot of calls from potential short sale sellers who want to know if they can sell their home to a friend and then rent the home back from that friend after the home has sold.
The long and short of it is that banks (or mortgage servicing companies) have rules about what they consider to be permissible short sales, and those transactions need to qualify as arm’s length. What this means is … (17 comments)

 
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Escondido Real Estate - North San Diego County Homes

Melissa Zavala, Broker

Escondido, CA

More about me…

Broadpoint Properties

Address: 220 West Second Avenue, Escondido, CA, 92025

Office Phone: (760) 839-3838

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Broadpoint Properties



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