santa barbara house for sale: Navigating Short Sales: What to Do When the Sale Price Leaves You Short.
- 12/06/11 12:22 PM
If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it. 1. Begin gathering documentation before … (0 comments)
santa barbara house for sale: Why Hire a Real Estate Agent or REALTOR?
- 12/06/11 12:19 PM
As spring rolls in, many people start listing their home for sale. The weather warms up and buyers, having recovered from the holidays, begin to house hunt.Many buyers will go it alone. They hit the Internet for their first line of attack in house hunting. They peruse magazines and open houses. But they miss an important key player in their house-hunting mission–the real estate agent. The real estate agent is not a go-between paper shuffler. Your real estate agent is the connection to the inside world of real estate. Yes, the Internet can provide you with lots of information, but it … (0 comments)
santa barbara house for sale: Importance of Capital Improvements in Ownership of Real Estate.
- 12/06/11 12:16 PM
Typically when investors consider purchasing an investment property, they inspect the property as part of their due diligence and also review the proforma income and expense reports provided by the seller. In addition, the investors review the rental income and expenses to make a decision according to their comfort level and ability to raise cash (i.e. obtain financing to close the transaction). In order to supply financing, financial institutions typically require certain debt coverage ratios as well as loan to value ratios. In addition to the income and expense information, they usually look for vacancy rates, management fees and reserves set aside. … (0 comments)
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santa barbara house for sale: How To Buy A Home After A Short Sale
- 12/05/11 10:57 AM
How to buy a home after a short sale……can it really be done?The answer is yes (and it depends). The short answer (pun intended) is that you CAN buy after a short sale. However, if you missed payments prior to the short sale you are out of luck. It seems that the short sale itself isn’t the end of the world (according the current lending standards). Missing payments prior to the short sale is what hurts your credit… We were forced to do a short sale with our home due to a huge salary cut. Our credit rating beforehand was great, … (1 comments)
santa barbara house for sale: A Way Up and Out For Sellers!!!
- 12/05/11 10:57 AM
In this economy, sellers of residential real estate face a variety of challenges. For sellers of distressed homes, these issues have added importance: options may be less visible, competent and reputable professionals who can help are fewer, opportunities begin to dwindle, and an exit plan – a means of solving this problem – becomes scarce. An effective way to fix this situation is to work with experienced investors who have the ability to buy these properties, make needed changes and enjoy a profit. Call this suggestion a Way Up (and a Way Out) for sellers who want to get on with their … (0 comments)
santa barbara house for sale: How to Spend 48 Hours in Santa Barbara!
- 12/05/11 10:56 AM
Fall’s grape harvest is the perfect excuse for a weekend away as industry locals share the new (and old) hot spots to hit. With its mix of sophisticated lifestyle, natural beauty and rustic Spanish Colonial Revival architecture, Santa Barbara, already a big draw for Hollywood, is luring more big-name residents than ever before. In December, George Lucas spent in the $20 million range for a beachfront retreat. A few weeks later, Drew Barrymore paid $5.7 million for a Mediterranean-style mansion in the tony enclave of Montecito (population 8,900), part-time home to Oprah Winfrey, writer-producer David Crane and Julia Louis-Dreyfus. Even so, … (1 comments)
santa barbara house for sale: What is a Reserve Study?
- 12/05/11 10:54 AM
A reserve study analyzes major repair and replacement needs like roofing and painting and provides a funding plan for accumulating money to perform this work when its needed. It is a fundamental planning tool that all homeowner associations (HOA) need. There are several parts to the reserve study: First, all major HOA maintained components are identified. Next, the cost to renovate each item is then determined by contractor bid or construction cost estimate. Then, the remaining useful life in years of each item is established. These items are plugged into a mathematical formula: Cost ÷ Remaining Useful Life = Money Needed … (0 comments)
santa barbara house for sale: A Way Up and Out For Sellers!
- 12/02/11 08:51 AM
In this economy, sellers of residential real estate face a variety of challenges. For sellers of distressed homes, these issues have added importance: options may be less visible, competent and reputable professionals who can help are fewer, opportunities begin to dwindle, and an exit plan – a means of solving this problem – becomes scarce. An effective way to fix this situation is to work with experienced investors who have the ability to buy these properties, make needed changes and enjoy a profit. Call this suggestion a Way Up (and a Way Out) for sellers who want to get on with their … (0 comments)
santa barbara house for sale: 5 keys to buying a home in today’s market
- 12/02/11 08:50 AM
Interest rates dropped to new lows at the end of the first week in October. Thirty-year fixed-rate conforming loans were available in some areas with an interest rate of less than 4 percent. However, during the same week, mortgage applications dropped 4.3 percent, according to the Mortgage Bankers Association. In past markets, low interest rates ignited the home-sale market. Not so today. One reason homebuyers are holding back is that current economic news is anything but comforting. The Conference Board Consumer Confidence Index plummeted to 45.2 in August. It was 100 in 1985, which was not a particularly robust housing market. … (0 comments)
santa barbara house for sale: 4 steps to buy again after foreclosure
- 12/02/11 08:49 AM
Homeowners facing foreclosure seem to be desperate to buy again. Frequently, I receive letters from someone who hasn’t yet lost their home to foreclosure but anticipates they soon will, and wants to be able to get back into the market, quick-like. Many claim their haste is because they don’t want to miss out on today’s bargain housing prices or interest rates. Yet neither seems poised to rise significantly any time soon. In the same breath, many of these folks say they’re ready to pay top dollar for their next home, and pay an additional premium if they are forced to rely … (0 comments)
santa barbara house for sale: Looking to buy a Beach-front property in the Santa Barbara area!?
- 12/02/11 08:48 AM
Are you looking to purchase a Beach-front property in Santa Barbara?Let us help you find everything you need to know about buying or selling a home! As the preeminent Real Estate professional in my community for over 12 years, I am dedicated to providing the finest service available while breaking new ground. Because the Real Estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. We go the extra mile to help you achieve your goals. That’s why I constantly research the market and property … (0 comments)
santa barbara house for sale: Search all of the Luxury Homes, Estates, and Condos in the Santa Barbara, Montecito, Hope Ranch, Goleta, Santa Ynez, Carpinteria and Summerland Areas!
- 12/02/11 08:47 AM
Are you looking to buy a Luxury property in Santa Barbara, Montecito or Hope Ranch?Let us help you find everything you need to know about buying or selling a home! As the preeminent Real Estate professional in my community for over 12 years, I am dedicated to providing the finest service available while breaking new ground. Because the Real Estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. We go the extra mile to help you achieve your goals. That’s why I constantly research the market and property values so your … (0 comments)
santa barbara house for sale: Seven Deadly Credit Score Sins!
- 12/01/11 11:29 AM
John Ulzheimer, president of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, is an expert on credit reporting, credit scoring and identity theft. Formerly with FICO, Equifax and Credit.com, Elzheimer is a rare editorial source — a recognized credit expert who actually comes from the credit industry. He often references in his writings the “Seven FICO Deadlies,” credit score deflating actions, but only recently identified them in one consolidated list. Your credit score, from about 350 (poor) to 800 (excellent) is a numerical rendition of your credit report. The higher your score, the more likely you’ll get approved for credit … (2 comments)
santa barbara house for sale: A Dedicated Professional!
- 12/01/11 11:17 AM
Jon Mahoney recently helped me close a complicated real estate transaction in Santa Barbara. As a Santa Barbara native, I value that Jon is an agent who not only understands our unique city, but also has made all the local connections to get things done quickly and efficiently.As a local business owner, I appreciate that Jon is a dedicated professional with the intellect, desire and determination to make the most complex real estate transaction a complete success.I highly recommend and I truly look forward to working with Jon again in the near future. Andre N. ManouxSanta Barbara, CA. Please visit our … (0 comments)
santa barbara house for sale: Are You Facing Foreclosure??
- 12/01/11 11:13 AM
Are you facing foreclosure? If so, you’re not alone. Millions of homeowners across the country have found themselves unable to keep their homes in today’s down economy. Investors let go of properties in strategic defaults and still other homeowners made tough decisions to walk-away from homes in search of jobs in new cities. RealtyTrac, the leading online marketplace of foreclosure properties, reports that 1 in every 611 housing units received a foreclosure filing in July of this year. While this figure is a dramatic decline from July 2010, James J. Saccacio, chief executive officer of RealtyTrac, makes it clear that this … (0 comments)
santa barbara house for sale: Importance of Capital Improvements in Ownership of Real Estate
- 11/30/11 11:34 AM
Typically when investors consider purchasing an investment property, they inspect the property as part of their due diligence and also review the proforma income and expense reports provided by the seller. In addition, the investors review the rental income and expenses to make a decision according to their comfort level and ability to raise cash (i.e. obtain financing to close the transaction). In order to supply financing, financial institutions typically require certain debt coverage ratios as well as loan to value ratios. In addition to the income and expense information, they usually look for vacancy rates, management fees and reserves set aside. … (0 comments)
santa barbara house for sale: Spanish Mediterranean Home in The American Riviera
- 11/23/11 06:30 AM
Enjoy spectacular ocean, mountain, island and city views from every room in this beautiful and newly re-built riviera property. Located on a quiet street and neighborhood on the American Riviera. <!--more-->Situated atop the Riviera, this newly constructed Spanish Mediterranean 3 bedroom 3 bath home offers dramatic 220 degree views of the Santa Barbara Harbor, Channel Islands, Ocean and Santa Ynez Mountains. The 3500 Square Foot Home is complete with a Great Room, Cathedral Ceilings, Hardwood & Classic Marble Floors, Gourmet Kitchen with Viking Appliances, Fireplace , Extensive view balconies, 2 Master Suites, Air Conditioning, and a private view Garden oasis. Offered … (0 comments)
santa barbara house for sale: Have a Safe Holiday Season
- 11/23/11 06:30 AM
The holidays should be a time that is full of family togetherness and joys of the season. Yet, certain conditions this time of year means you need to be extra diligent in order to keep your family safe and sound. Here are some great tips on keeping safe indoors and out. First, pay heed to weather advisories. Winter weather can be very severe. You may need to cancel or alter plans. Be sure to download the Weather.com app to your smartphone for checking the latest storm advisory alerts while on the go. Next, be sure you prepare your car for winter … (0 comments)
santa barbara house for sale: How Much Down Payment Is Enough to Buy A Home?
- 11/23/11 06:29 AM
Most people agree that buying a home without a down payment is a risky decision and soon it might not be an option. As the crippled housing market is beginning to see signs of improvement, lawmakers and key housing industry agencies are debating exactly how much down payment should be required. Congress and a group of federal regulatory agencies are attempting to create new rules for mortgage lenders in order to avoid a future housing crisis. The loan would be known as “qualified residential mortgages.” The Dodd-Frank law calls for financial reform and the setting of criteria for what would constitute … (0 comments)
If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
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