folsom ca short sale: Welcome to 2010 - "Year of the Short Sale"
- 03/25/10 04:00 AM
Welcome to 2010 - "The Year of the Short Sale" For nearly four years, various elements of a perfect storm have been brewing and gaining strength as they have swept across the real estate landscape, leaving the hopes and dreams of home owners in their wake. Entering the New Year, these forces will continue to swirl and intertwine, while the market players continue to react. Look to 2010 to be "The Year of the Short Sale." Since the market's retreat began in 2005/2006, lenders were in denial as to the depth and severity of the housing crisis. Foreclosure was used as a threat and … (0 comments)
folsom ca short sale: Welcome to 2010 - "Year of the Short Sale"
- 03/25/10 03:52 AM
Welcome to 2010 - "The Year of the Short Sale" For nearly four years, various elements of a perfect storm have been brewing and gaining strength as they have swept across the real estate landscape, leaving the hopes and dreams of home owners in their wake. Entering the New Year, these forces will continue to swirl and intertwine, while the market players continue to react. Look to 2010 to be "The Year of the Short Sale." Since the market's retreat began in 2005/2006, lenders were in denial as to the depth and severity of the housing crisis. Foreclosure was used as a threat and … (0 comments)
folsom ca short sale: Considering a short sale with Indymac Bank? Have a look!
- 02/08/10 11:30 AM
This was written by RoburtHerzong. I have posted this for anyone who has an Indymac loan and can't make their payments. Is The FDIC Killing Short Sales? As some of you already know, I blogged recently about being interviewed recently by our local NBC news affiliate. To read the blog, click here. Basically, IndyMac Bank (now OneWest Bank), is holding one of my clients hostage, demanding a $75k promissory note, or they will proceed to foreclosure. For the life of me, I couldn't figure out why they were doing this. The BPO came in at the contract price of $275k, with … (1 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #1
- 01/19/10 02:25 AM
Happy New Year! Welcome to 2010 - "The Year of the Short Sale" For nearly four years, various elements of a perfect storm have been brewing and gaining strength as they have swept across the real estate landscape, leaving the hopes and dreams of home owners in their wake. Entering the New Year, these forces will continue to swirl and intertwine, while the market players continue to react. Look to 2010 to be "The Year of the Short Sale." Since the market's retreat began in 2006, lenders were in denial as to the depth and severity of the housing crisis. Foreclosure was used as … (0 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #2
- 01/18/10 05:25 PM
This is the 2nd of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. Why is the number of Short Sales rising? Due to the recent economic crisis, including rising unemployment, and drops in home prices in communities across the nation, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its … (0 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #3
- 01/18/10 05:14 PM
This is the 3rd of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. Why is it difficult to sell a short sale listing? Since the peak of the housing market in 2006, the number of attempted short sales has grown exponentially. The challenges with successfully selling a short sale listing (they are numerous) has ranged from lenders not understanding the depths of the housing collapse and not properly valuing homes, lenders not … (0 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #4
- 01/18/10 05:07 PM
This is the 4th of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. What is being done to make handling Short Sales more efficient? On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA provides incentives in connection with a short sale used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP … (0 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #5
- 01/18/10 04:57 PM
This is the 5th of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. I have a home to sell and I cannot afford my payments. Losing your home to bank foreclosure, resulting from your inability to make your monthly mortgage payment(s) is one of life's most challenging experiences. Foreclosure is also an event that will impact your credit score for years to come. Foreclosures often result from the unexpected: a major … (0 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #6
- 01/18/10 04:44 PM
This is the 6th of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. Selling my home via a Short Sale sounds too good to be true, what's the catch? When it comes right down to it, choosing a short sale, over a foreclosure, is not a difficult decision. A foreclosure on your credit report is the "scarlet letter" in real estate finance and will leave your FICO score in shambles and … (0 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #7
- 01/18/10 04:27 PM
This is the 7th of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. Should home buyers attempt to purchase short sale listings? I am actively working with a handful of home buyers who, for one reason or another, have ended up focused on short sales. The joke about short sales is: They are never short in duration and they rarely sell. Hence the name "short sale..." Truth be told, the name … (1 comments)
folsom ca short sale: Welcome to 2010 - "The Year of the Short Sale" - Part #8
- 01/18/10 04:01 PM
This is the 8th of 8 postings in a series about "short sales." If you are a home seller or buyer that is thinking of pursuing a short sale, please read the following, then give me a call if I can be of further assistance. Summary of: Welcome to 2010 - "The Year of the Short Sale:" Home sellers: If you are upside down on your home and cannot afford your mortgage payment(s), your choices are limited. Two of the most common choices are a foreclosure or a short sale. A foreclosure will destroy your credit, will likely prevent you from buying a … (0 comments)
At the end of July in 2009, there were 285 homes for sale in Folsom, CA. The breakdown: 171 "Non-Distressed" listings, 97 "Short Sale" listings and 17 "Bank Owned" listings. In the same month, there were 48 Non-Distressed sales, 5 Short Sales and 20 Bank Owned sales that closed escrow. What does this tell us? 28% of the Non-Distressed inventory sold, 5% of the Short Sale inventory sold and 117% of the Bank Owned inventory sold. Bottom line: If you get foreclosed on, the bank will unload your home quick and cheap. If you want to avoid foreclosure with a short … (2 comments)
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Aaron Cullen
Folsom, El Dorado Hills & Sacramento Real Estate &
Welcome to 2010 - "The Year of the Short Sale" For nearly four years, various elements of a perfect storm have been brewing and gaining strength as they have swept across the real estate landscape, leaving the hopes and dreams of home owners in their wake. Entering the New Year, these forces will continue to swirl and intertwine, while the market players continue to react. Look to 2010 to be "The Year of the Short Sale."
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