Ohio Man bulldozes $350K Home to Avoid Foreclosure! - 02/27/10 12:42 AM
I was listening to talk radio and was intrigued by the teaser for the next segment. "Ohio man bulldozes $350K home to avoid foreclosure". Hmmm. I REALLY wanna hear that one. I listened to the entire interview and at the end I was perplexed. First of all, here are the details. Terry Hoskins of Clermont County found himself in a predicament with his Moscow, Ohio home. He was facing foreclosure and was upset that the bank that held the note, River Hills Bank, would not work with him. So, to quote Mr. Hoskins, "When I knew I was going to lose … (8 comments)

C.A.R.'s “2009-2010 SURVEY OF CALIFORNIA HOME SELLERS” - 02/25/10 08:10 PM
The California Association of Realtors released their "2009-2010 SURVEY OF CALIFORNIA HOME SELLERS”.  The report showed that approximately 67% of all California home sellers that were able to sell their house in this market sold their home because they had an inability to meet their mortgage obligations.  In other words, they couldn't afford their house.  Whether it be due to a variable rate mortgage that was resetting higher, a job loss, sickness or just the fact that they overextended themselves, the majority of those homesellers basically HAD to sell. 
The 67% figure includes standard sales as well as short sales.  The … (1 comments)

Interest Rates To Remain Low, But For How Long? - 02/20/10 10:58 PM
The CEO or Freddie Mac, Ed Haldeman, recently gave a speech to the Detroit Economic Club regarding a number of issues including the state of the current Real Estate market.  According to Mr. Haldeman we are in a "transition to a recovery".  He went on to state that the two main factors were the stimulus package and the fact that the Fed was keeping interest rates at record lows.
One statement he made during his speech was particularly interesting to me.  He said that he expected the 30-year mortgage fixed interest rate to remain between 5% and 6% throughout this year.  … (4 comments)

On the brink of a trustee sale... - 02/19/10 12:35 AM
Here's a story from a California Realtor that I think all homeowners facing foreclosure need to read!
Via Pacita Dimacali - e-PRO, SRES, CDPE, MBA East Bay, North CA real estate (Gallagher & Lindsey):
This is hairy.
By the time I received a call about a potential short sale listing, the seller has already received a Notice of trustee sale in 3 weeks.
The seller's daughter had tried for 6 months to get ther loan modified, but it wasn't until Dec 31 2009 that they were denied. January 10, they received a Notice of Trustee Sale scheduled for February 22, 2010l
She had frantically searched for … (4 comments)

Riverside Market Snapshot! 2-18-10 - 02/19/10 12:19 AM
Here is a brief market snapshot for the Riverside and surrounding communities. I’ve included the number of homes currently available on the market in contrast with the number and percentage of homes that have closed escrow in the past 30 day time period.
RIVERSIDE
2239 homes for sale
344 closed in 30 days
15.4%
MORENO VALLEY
1468 homes for sale
259 closed in 30 days
17.6%
CORONA
1688 homes for sale
247 closed in 30 days
14.6%
PERRIS
851 homes for sale
123 closed in 30 days
14.5%
Are you a buyer looking for a home?
CLICK HERE TO … (2 comments)

Help with Guild! - 02/18/10 01:00 AM
I just signed a new Short Sale listing with two loan parties to negotiate with: Guild Mortgage and CalHFA.
Of all the short sales I've done in the past 14 years, I've never run accross Guild nor CalHFA.
Is there anyone out there that has recently dealt with either of the two that might be able to share some info with me to streamline the process and make things easier?  Any help is greatly appreciated!  Thanks!
… (1 comments)

Happy Anniversary to the Stimulus? - 02/17/10 10:13 PM
Today marks the 1 year anniversary of President Barack Obama signing the American Recovery and Reinvestment Act.  For the past 365 days, the purpose of this stimulus package was to take our hard earned tax dollars to stimulate the American economy.  Part of the package went towards items such as a 2.6 million dollar solar panel  system for the Denver Museum of Nature & Science, which by the way, has over 90 million dollars in their bank account. Another $25,000 went to the little town of Sykesville, Maryland.  This well to do community of over 4,400 residents don't know where to … (1 comments)

The Great Short Sale Bailout of 2010 (AKA - HAFA) - Finally! - 02/15/10 10:48 PM
Here's some great info on HAFA from an agent back East.  I couldn't have said it better myself!
Via Rick Schuster (Jaycee Realty, Inc.):

Have you had an opportunity to review the Homeowner Affordable Foreclosure Alternative (HAFA) plan which goes into effect on April 5, 2010?  If not, and if you're involved in real estate, I encourage you to read through the 43 page plan (found by clicking HERE) as it has the potential to greatly streamline the short sale process.
As a short sale facilitator who has processed over 350 short sale requests, consumers and real estate professionals often approach me … (1 comments)

Homebuyer Tax Credit Expring Soon! - 02/01/10 01:45 PM
For those fence-sitting buyers not sure if they want to buy now or not, let me just say...BUY!  The federal government's Homebuyer Tax Credit for 2009 expires soon and there's no guarantee it will be extended.  You need to be under contract BEFORE May 1st and closed BEFORE June 1st.  That may seem like plenty of time but frankly, it's not.
I do have buyers that can find a home, make an offer, get it accepted and open escrow quickly.  But those buyers are the investor types or homeowners that don't mind a property that needs some fixing up prior to … (2 comments)

 
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Ray Wright

Ray Wright - Inland Empire Realtor

Riverside, CA

More about me…

Keller Williams Realty

Address: 7065 Indiana Avenue, Riverside, ca, 92506

Office Phone: (951) 354-1303

Cell Phone: (951) 312-3133

Email Me

Here is where you'll find Real Estate market updates and other information of interest to those buying & selling a home. Visit me on the web at: http://www.RayWrightSellsHomes.com Click on the link below to find help to avoid Foreclosure: http://www.ForeclosurePreventionSeminar.com


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