Big Short Sale Changes this Friday - 05/29/12 07:03 PM
I’ve got that Rebecca Black “Friday” song going through my head. That’s because, the Friday, June 1, there will be some changes to the processing of short sales.
First off, changes to the HAFA program begin this coming Friday. These changes will now allow non-owner occupied properties to be considered, and there may also be opportunities for certain short sale sellers who are current on their mortgages to now participate in the HAFA program. Lastly, certain lenders may elect to pay up to $8500 to second lien holders.
Second, Fannie Mae, Freddie Mac and others will now be required to respond … (39 comments)

Short Sale News - How do you like them apples? - 05/26/12 11:03 AM
Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:
REO Rental Plan Gets a Thumbs Down in California I gave this plan a thumbs down weeks ago, but it seems that the bipartisan California bill which also wants to put an end to this harebrained scheme has just become a topic of conversation.
Latest Foreclosure Filings This interesting article discusses the way in which decreased foreclosure filing stats in three states (one being California) have masked some of the increased filings in other states. Have all of the California homeowners that were … (4 comments)

Bank of America Now Offers Up to $30,000 in Relocation Assistance - 05/25/12 03:17 PM
That’s right folks. Bank of America is now among the ranks of lenders offering additional relocation assistance money to certain short sale sellers. In addition to programs such as HAFA or other short sale incentive programs offered by other lending institutions, Bank of America announced last week that they are now offering certain short sale sellers up to $30,000 in short sale incentive money. Many of those that are eligible will receive a letter in the mail advising them about the program and yes, the letter does state that a 1099 will be issued to each short sale seller who receives … (5 comments)

Explore Southwest Escondido - 05/24/12 05:47 PM
The community of Southwest Escondido is located about 30 miles northeast of the city of San Diego. Southwest Escondido has many wonderful scenic vistas and includes shopping, golf, and is in close proximity to both schools and transportation.
Homes in Southwest Escondido come in all kinds and range from small apartments and single-family homes to large properties (both old and new)—many with scenic mountain or lakefront views. The architecture of Southwest Escondido is diverse—with many custom properties and also handfuls of streets that may include homes developed by a single builder.
Check out the video below to see more of Southwest Escondido.
 
… (1 comments)

How Quickly Must the Banks Respond to Short Sales? - 05/22/12 02:20 PM
Dear Melissa:
I’m in the middle of a short sale. Bank of America is my lender, and the buyer backed out. Someone told me that there is a law that if you submit a new offer, Bank of America has to review it right away. Is that a law? And, if so, what’s the civil code?
--Short Sale Seller in Temecula
 
Dear Short Sale Seller in Temecula:
Although I am not an attorney and you should always address legal concerns to an attorney, to the best of my knowledge, there is no law that states that Bank of America has … (6 comments)

Poway Condo for Sale - The Palisades - 05/21/12 06:25 AM
Poway Condo for Sale … (2 comments)

Weekly Distressed Property Roundup - Re-HARPing? - 05/20/12 06:49 AM
Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:
More Bills that Could Aid ‘Upside Down’ Borrowers  Just like the word ‘chad’ took on meaning a few years back, this article and Obama’s proposed refinancing initiatives have provided a new word, ‘re-HARPing.’ Read this article to learn more about all of the proposed bills currently out and about.
California and Principal Reductions  This Keep Your Home California Program is as foggy as North San Diego County in June. (If you have never been to San Diego in June, know that there … (11 comments)

Value Disputes and Bank of America Short Sales - 05/17/12 09:33 AM
If you have completed more than a handful of short sales, then you have no doubt faced the music with respect to property value.  During the course of the short sale, the short sale lender sends out another Broker to complete a Broker Price Opinion (BPO) for the short sale listing. The bank then, in most cases, bases their price on the value stipulated in the BPO. However, often times, there is a slight discrepancy between the value stipulated in the BPO (what the bank wants) and the offer amount (what the buyer wants to pay). In many cases, what comes … (4 comments)

What Happened to my Short Sale Incentive Money? - 05/15/12 06:37 AM
Dear Melissa:
We need help.
Rather than let our house go to foreclosure, we got a Realtor® and put the house on the market as a short sale.  We advised our Realtor® that we were interested in applying for the $3000 relocation expenses. She indicated that she would apply for that. We neither filled out nor signed an application for this. After two months, there was an offer on the short sale and today, at closing, we asked about the relocation expenses and were told that the bank said we didn't qualify. We were never notified and this was the first … (7 comments)

Mother's Day Short Sale Roundup - 05/13/12 07:04 AM
Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena: 
HAMP Modifications Down 33% from Last Year  This article provides information on the decline in HAMP loan modifications. What does it mean? Are we winding down in the distressed property arena or are the banks just not that efficient? Read more to find out.
Are We Really at the Bottom?  We’ve seen some big changes in the market lately? Is the bottom behind us and will this bottom actually stick? Read more in this dsnews.com article.
How to Command the Short Sale … (4 comments)

Hidden Meadows Home for Sale - Escondido Mountaintop Jewel - 05/11/12 04:52 PM
Hidden Meadows Mountaintop Home for Sale … (5 comments)

Explore Summercreek Escondido - 05/10/12 06:14 PM
The community of Summercreek is located in Southwest Escondido about 30 miles northeast of the City of San Diego. Summercreek is conveniently situated near shopping, public transportation and schools, and is just up the road from scenic Lake Hodges.
The community of Summercreek is comprised of single-family homes, both one and two story with large lots—many with swimming pools and custom one-of-a-kind landscaping.  In fact, many Summer Creek residents note the mingled scents of eucalyptus, flowering shrubs and orange blossoms drift across the hillsides.  
Check out the video below to see more of Summercreek in Escondido.

 
Like what you … (1 comments)

Short Sales and Closing Cost Credits - 05/09/12 01:58 PM
I think that there is no question that in many parts of the United States (San Diego County included) it’s a seller’s market again. Just a few weeks ago an agent in my office received 24 offers on his short sale listing, and another property got 10 offers the very same weekend.
When reviewing short sale offers with clients, it is important to look at the type of loan that the buyer will obtain: VA, FHA, or conventional financing. And, will the buyer require a closing cost concession from the seller?
One of the unknown factors often associated with a short … (5 comments)

Sold in 18 Days - Eureka Springs Escondido - 05/07/12 08:01 PM
This lovely home received 10 offers and sold on 18 days. We can sell yours, too!
 
Sold in 18 Days! Eureka Springs Escondido … (9 comments)

Lastest Distressed Property and Short Sale News - 05/05/12 06:34 AM
Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:
What an Extension of the Mortgage Debt Relief Act Could Mean This article provides a financial breakdown on the benefits of extending the Mortgage Forgiveness Debt Relief Act of 2007 through the end of 2014. As of the publication of this article, the extension has not yet occurred.
New California Bill Could Be Good for Approved Short Sales  The California Association of Realtors® is backing a bill whereby foreclosure auction dates cannot be set if the bank has approved the short sale. For … (5 comments)

Explore Bernardo Sante Fe Escondido - 05/03/12 06:09 PM
The community of Bernardo Santa Fe is located in Southwest Escondido, about 30 miles north east of the city of San Diego. Bernardo Santa Fe is situated near the North County Fair Mall, highway 15, and scenic Lake Hodges.
Bernardo Santa Fe is a gated community consisting of 113 estate homes completed in 2001. The elevated location of these properties allows for both view and afternoon breezes.
Homes in Bernardo Santa Fe are one and two-story homes, over 2500 square feet of living space, large lots—many with backyards that include pools, barbecue stations, and fire pits. Additionally, most of the homes include state-of-the-art kitchens … (3 comments)

Short Sales - Dealing with a Second Lien Holder (Bedrock Style) - 05/01/12 04:54 PM
Negotiating with second lien holders has long been a hot topic on the Short Sale Expeditor® website. Most recently, two agents asked the following questions about second lien holders and short sales. 
Why do second lien holders play games when they are in the inferior position? Why doesn’t the threat of foreclosure scare the second lien holder? 
First off, who knows why anyone does anything? But, nevertheless, I will be more than happy to speculate.
In a short sale where both the first lien holder and the second will each have to accept less than the amount owed, the first lien … (21 comments)

 
Melissacrophires Ambassador_large

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

Email Me

Broadpoint Properties



Listings
1
$199,000
1 br, 1 ba, 623 sqft
Very unique unit in La Jolla - this place has just about everything! MUST see...
1
$300,000
4 br, 3 ba, 2,598 sqft
This custom home has views all the way to the ocean on clear days. Sitting on...
120061440_101_81
$280,000
2 br, 3 ba, 1,341 sqft
Minutes to the beach and shopping. Built in 2005, this home is in great condi...
1-%20front
$320,000
4 br, 3 ba, 2,563 sqft
This home is BEAUTIFUL!! A lot of TLC went into the care/upgrade of this home...
0
$249,900
2 br, 2 ba, 832 sqft
Turn key condo in prestigious complex rarely on the market. Incredible wester...
1
$349,000
2 br, 2 ba, 1,154 sqft
Lovely unit with hardwood floors in living, dining and hallway. Balcony off d...
Img_3558
$100,000
2 br, 2 ba, 1,395 sqft
Desert landscaping with palms and saguaro cactus in front and no neighbors in...
1
$169,000
2 br, 2 ba, 1,154 sqft
Beautiful Cape Concord location surrounded by luscious greenbelts. Bright and...
2
$220,000
3 br, 2 ba, 1,598 sqft
Nice private setting. Single story home with plenty of room for RV, boat and ...
1
$299,900
Own this Unbelievable, one of a kind quiet slender wonderland amongst the hug...
1
$120,000
2 br, 1 ba, 757 sqft
2 story house, pergo flooring in living room, and tile flooring in kitchen an...
1
$677,220
3 br, 2 ba, 1,915 sqft
This home has recently been upgraded. You will not find another home like thi...
Monticook%202
$699,900
4 br, 3 ba, 2,589 sqft
Gorgeous turn key home in highly acclaimed Poway School District. Southern or...
Pic%201
$268,000
4 br, 2½ ba, 2,006 sqft
Attractive 4 bedroom, 2.5 bath, 2 story home located in desirable Murrieta. H...

Links

Archives

RSS 2.0 Feed for this blog