foreclosures: HAFA - Get Paid to Sell Your Home! - 04/09/10 11:08 AM
Well, according to the new HAFA program rolled out earlier this week, homeowners who short sale their home can receive a "moving allowance" check of $3,000!
The new Housing Affordable Foreclosure Avoidance program, named HAFA, is here to hopefully make life for homeowners in distress a little more comfortable.   Personally, my first complaint is the acronym.  Seriously, couldn't they think of a name for the program without having to put the words out of order?  But it's government people, let's be patient with them.  Their amazing foresight had a lot to do with why we are in this mess to begin … (0 comments)

foreclosures: HAFA Vs. Hoffa - Any Chance of Finding a Body? - 04/09/10 10:47 AM
Since cynicism runs deep in my blood, I thought I would ask the ever-present question on every skeptic's mind- is this new foreclosure avoidance program REALLY going to help anybody? 
I ask this because, not only did the last government-authored homeowner-assistance program not help anyone (I exaggerate, it did help ONE person), but there are so many loopholes in the wording of the new HAFA program, that it is easy for anyone to smell what's fertilizing the lawn on the other side. 
Don't get me wrong, I WANT this program to work.  I WANT to see the housing crisis that was brought … (3 comments)

foreclosures: Foreclosure Update, March 16, 2010 - 03/16/10 04:41 AM
Copied from  Check out up-to-date foreclosures EVERYWHERE in the US at
Updated California Foreclosure Report: 
After reaching the lowest level in a year last month, Notice of Defaults, the start of the foreclosure process, increased by 19.7 percent in February. The number of properties scheduled for foreclosure sale remained near record levels, yet foreclosure sales, either Back to Bank or Sold to 3rd Parties, dropped by 11.9 percent total.
"The disconnect between delinquencies, and foreclosure sales continues to widen," says Sean O'Toole, Founder and CEO of "While efforts to slow foreclosures are clearly working, it remains unclear that … (0 comments)

foreclosures: What's so Distressing About Distressed Properties... - 04/13/09 08:44 AM
     Every real estate market, no matter the time or place, is bound to be influenced in some way or another by "distressed" properties.  In a "healthy" market, anywhere from 1-3% of the homes are generally distressed sales. 
     So what qualifies as a distressed sale?  A distressed property will fit into at least one of these four categories:
Property that is in poor condition Property that is or will soon be in the foreclosure process Property owned by someone who is experiencing financial problems Property on which the mortgage and lien amounts exceed the value of the property AND … (0 comments)

foreclosures: California Foreclosure Update- February 2009 - 02/23/09 09:33 AM
Since the foreclosure market tends to drive the current housing market here in San Diego and Chula Vista, accurate information is key to udnerstanding what to expect in the coming months.
Here are some of the key facts that I noticed in a recent report by Foreclosure Radar- a wonderful service to anyone looking into the foreclosure and pre-foreclosure market- (click here for instant Foreclosure Radar access).
- From December '08 to January '09, Wells Fargo, (which recently purchased Wachovia) saw NOD fillings decrease 46% while JP Morgan/Chase/Washington Mututal saw declines at 49% for the same period. 
- Juxtaposed to that, … (0 comments)

foreclosures: 9 Secrets For Getting an Accepted Foreclosure Offer! - 02/18/09 11:30 AM
Okay, so the market here in San diego, specifically Chula Vista and Bonita, is absolutely cranking!  Two-thirds of the inventory are short sale properties, but the stuff that is selling is selling fast, above list price, and with multiple offers.
There is nothing more heartbreaking (or maybe there is, just not in real estate) than finding the perfect home, falling in love with it, only to lose it to another buyer.
So what can you do to maximize your chance of getting the accepted offer?  These really are strategies, some are just common snese, but I call them "secrets" because not … (0 comments)

foreclosures: Chula Vista Foreclosures Expected To Rise Drastically - 01/14/09 05:03 AM
Just when we thougt we were gaining some ground on the fight against freclosures, there appears to be a large surge on the horizon. 
According to, filings on Notices of Default, ebbed temporarily through November 2008 as California State Senate Bill 1137 tried to force banks to work with more homewoners prior to foreclosure.  December saw 42,421 NODs filed, nearly double November 2008 when 21,557 NODs were filed.
But this was to be expected, since NODs filed from December 2007 to January 2008 surged nearly 55%. 
Athough filings for Notices of Trustees Sale remained fairly level, it is expected that these will … (0 comments)

foreclosures: Free Foreclosure Lists for Chula Vista and Bonita - 10/07/08 09:47 AM
Yes, it is a work in progress, but I would love to hear all feedback for this one.
Thanks in advance for the calls and emails.

foreclosures: Chula Vista Distressed Sales Update- October 2, 2008 - 10/02/08 11:39 AM
        Distressed sales account for nearly 85% of the active inventory in Chula Vista!  I consider distressed sales to be either foreclosures or short sale (pre-foreclosure) properties. 
      As of October 2, 2008, short sales accounted for about 63% of the listing inventory in Chula Vista, but only account for 33% of the pending sales and only 17% of closed sales since April 1, 2008.  Keep in mind, the percentage of short sales actually closing is increasing as lenders get more pressure to keep foreclosures off their books.   
       Also since January 1, 2008, there have been approximately 2,250 short sale listings taken … (2 comments)

foreclosures: Great Buy at $325,000- Lots of Work Needed Too! - 09/16/08 01:29 PM

Yes for those wanting to buy a home for well under market value, put some money in and still have $60k in equity (even in today's market!), then this is for you!  Be ready to buy everything except lower kitchen cabinets and the tile counters and the windows.  Needs ALL flooring, cabinets, paint, bathroom fixtures, showers, tubs, toilets, towel holder, and yes, even toilet paper holders.  You put a lot own or even apply for a renovation loan.  Read about renovation loans in my other blogs.  The previous owners were very thorough in the removal of items, and if … (0 comments)

foreclosures: 30-Year Rates Now Under 6%! - 09/15/08 01:38 PM
30-Year Rate Drops under 6%!
As a relief to many home buyers, the average 30-year fixed rate fell from 6.35% to 5.93%.  The 15-year rate fell almost half a percent as well anf the 5- year ARM rose  slightly. 
Ed Kashmareck, economist for Wells Fargo & Company had this to say:
"In the most recent survey period, long-term mortgage rates plunged after the government took over Fannie Mae and Freddie Mac.  Generally speaking, mortgage rates track 10-year Treasury yields quite  losely. However, while 10-year Treasury yields were little changed over the past week, the government's takeover of Fannie Mae and … (0 comments)

foreclosures: Turn That Nightmare Dump into the Home of Your Dreams! - 08/20/08 09:56 AM
     Okay, so the title sounds a little "hip-hip horray!" but seriously, this is a wonderful tool to help buyers get the homes of their dreams that are in a nightmarish condition! 
     The traditional way to get repairs and such done was to either ask for repair credit at close of escrow or put the cash into it your self. 
The problems with traditional funding are these:
1.  Obviously more out-of-pocket expenses lowers your ability to buy if you have limited funds available (and by "your ability" I mean the ability of most buyers in the market).
2.  Sellers don't like messing with … (0 comments)

foreclosures: HUD Foreclosures offer GREAT opportunities for buyers! - 07/24/08 05:33 AM
Here is how the HUD Foreclosures work and why it is turning out to be such a HOT opportunity in San Diego.  A HUD Foreclosure takes place when a borrower on an FHA loan defaults and goes into foreclosure.  FHA will purchase the loan back from the lender and pay them the amount of the loan.  FHA then sells the property using an augmented auction process to the highest bidder.
Here's the great part- the competition is virtualy ZERO!
First.  The San Diego HUD foreclosure homes are not on the MLS for the first 30 days, so hardly anybody knows … (9 comments)

Peter  Carlseen (RE/MAX Praecelsus)

Peter Carlseen

Chula Vista, CA

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RE/MAX Praecelsus

Address: 891 Kuhn Dr #204, Chula Vista, CA, 91914

Office: (619) 216-1505

Mobile: (619) 370-6555

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News, tips and advice for homeowners and buyers in the Chula Vista and Bonita neighborhoods of San Diego County



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