la quinta short sale expert: Are there still Short Sales in the Palm Springs, CA area?
- 07/20/14 11:44 AM
I've closed dozens and dozens of short sales here in the Palm Springs Valley. From the Western city of Palm Springs, through Indian Wells, Rancho Mirage, Palm Desert to the Easterly cities of Indio, Coachella and Thermal. The peak year was probably 2012. In 2013, the numbers of distressed Sellers I helped dropped dramatically..great! My equity Sales were booming, so it made sense that the Short Sale numbers were decreasing. So far, in 2014, it's felt pretty stable..the market in general. But, the past 2 months have seen a large increase in the volumne of calls from underwater homeowners again! … (0 comments)
la quinta short sale expert: Who do you call if you need to Short Sale?
- 06/19/14 11:14 AM
What's the first thing you, as a potential Short Sale property seller, need to do? The first thing most of my clients respond is "Call my Lender." Hmmm..not so fast. If you're not delinquent, they may just continue to do their job and try to get you to pay them more money! The Lenders' first response to being informed of your Short Sale options is to say they'll send you their Short Sale package. You can get those easily online. I think your time would be much better spent looking for an experienced Short Sale Agent in your area, who has … (2 comments)
la quinta short sale expert: Showed the whole Valley even when I KNEW which city they'd like..
- 05/26/13 06:39 AM
I wish I was one of the Realtors in my office that has a "farm". They live there, list there, sell there, get new listings there, sell there. Boom! I'm not one of those few, lucky agents. I sell in the whole Palm Springs valley..Palm Springs (west side) to La Quinta, Indio, and Thermal (East side). A lot of territory. I LOVE that I get to go all over the Valley! It's hot, hard and tiring, but I also get the chance to get out of my own area..even development. I like figuring out the streets, the developments, the shopping areas, … (0 comments)
la quinta short sale expert: Darn..I missed the bottom! Or did I??
- 04/28/13 05:10 AM
Here in Palm Springs, CA., as with most areas of the country, we are recovering beautifully from the crash and burn of the housing market. It now appears, in hindsight, that 4th Quarter of 2012 was the absolute bottom if you base your data on price/sf. My clients are feeling like they "missed the bottom." Well, you did. But, that's ok. Many buyers did not have their finances in order, their jobs in line, perhaps enough time to recover from a Short Sale or Foreclosure to jump in the past couple of years. However..I like to point out 6 things that will … (0 comments)
la quinta short sale expert: Short sale list agent… In cahoots?
- 04/24/13 01:06 AM
I have been listing, negotiating, and closing short sales here in the Palm Springs Valley area for just over four years now. I have run into many very, very poorly skilled short sale listing agents. No surprise here! When the short sale market hit its peak in 2012, there was a sudden explosion of "short sale experts"! Even though the number of short sales in 2013 has declined dramatically in my Valley, and I am happy to say that I do a much smaller number of them now, it seems the short sale scammers continue to plague the market. I am dealing … (3 comments)
la quinta short sale expert: HAFA short sale approved after note was transferred!
- 04/11/13 10:57 PM
Those of us who do short sales, know that it has become extremely common for the notes to be transferred at the last minute. You can be working away with the lender on a short sale, even have approval as I did on this one, and boom… You receive the transfer email. What does this mean? It means that the note was sold off to another servicer during your transaction. Needless to point out this creates one more hoop to jump through as a short sale realtor.
For this particular short sale in the highly desirable area of North La Quinta California, … (2 comments)
la quinta short sale expert: Just listed in La Quinta; and into escrow!
- 03/28/13 10:17 PM
It took a whopping 10 days to get this newly listed home in La Quinta into escrow. Located in the La Quinta Cove, on an oversized corner lot, this home is a diamond in the rough. I suspected the offer would be from an investor, not because it was priced low, but because it needs some work.
The offer that came in is very appealing to the sellers because it's a very short close, and the buyers are taking it as is. The home was left to the sellers upon their mother's death, and although a lovely property, they are eager to move … (0 comments)
la quinta short sale expert: Land sales in the Palm Springs Valley; moving on up!
- 03/12/13 11:54 PM
It's said that vacant, raw land is the last property to turn around when the real estate market in general, starts to come back. Certainly true here in the Palm Springs Valley in California. But that may be changing. Builders are buying up properties that were left undeveloped from our historic market crash. Stalled, abandoned, and foreclosed upon developments are beginning to be built out.
Land prices have begun to increase. Prices for finished residential lots has jumped 24 to 41% year over year in all of the cities across the Valley. That's still not a lot compared to what land was … (3 comments)
Let's see… In the past couple of weeks I have shown buyers my beautiful Palm Springs Valley from all over. Seattle Washington, Calgary, Ottawa, and Vancouver, Canada, Laguna Beach, Manhattan Beach, Alaska, Northern California, and today a couple from Malibu, California. This just over the past couple of weeks! And they are buying!
The prices of homes in the Palm Springs Valley have definitely stabilized. We are basically a seasonal resort destination, with extreme winter warm weather. Anybody living … (5 comments)
la quinta short sale expert: Why would Agents do this????
- 01/13/13 10:51 PM
Got a call yesterday...guy from Minnesota looking to retire in my beautiful Palm Springs Valley. He is looking for a really well built custom home..none of that shoddily built stuff you know. Been a realtor for 30 years in Minnesota by the way... Well..after a few more exchanges, seems he's not looking for a house, but rather a lot to build the home on. Ok. Well..a few minutes more. Actually, he needs me to find him a quality builder to build the custom home on the lot. Well..actually, if I could just set up the meetings for him with the Builder … (6 comments)
la quinta short sale expert: International Dog Show in Indio..this weekend!
- 01/03/13 11:44 PM
Polo Fields are HUGE..one of the reasons there are so many other activities held on them. Soccer games, weddings, LaCross and this weekend only, the International Dog Show! This is a yearly event held at the Empire Polo Fields in Indio, Calif. They are expecting approx. 10,000 people to attend this year! Unbelievable. I have to say it's very organized and there is a ton of parking. If you are planning on attending, be sure to use the entry off of Monroe Avenue in Indio. It's all set up for easy access into the club and there is a ton of … (3 comments)
la quinta short sale expert: Bank of America COOP short sales; E-sigs now accepted!
- 11/19/12 04:45 AM
Almost all of the documents needed for a Short Sale with B of A COOP (co-operative) Short Sales can be signed with e-signatures. Whew! What a step into the current time B of A! Here's the scoop from my Agent update e-mail from B of A. … (0 comments)
la quinta short sale expert: La Quinta has some interesting things to do coming up!
- 11/14/12 11:27 PM
The City of La Quinta offers up a plethora of fun, different and interesting things to do in the next week or so.. Art Under The Umbrellas. Located On the Main Street in Old Town La Quinta, this annual exhibit of fantastic art, jewelry, and other original creations is always a big hit. Next show is November 24. FREE! 8 a.m. to 4 pm. La Quinta Brews & Brews: Presenting three of the hottest Southern California Blues bands, over 30 craft beers, great food, wine and lawn games at the La Quinta Civic Center Campus. Only $20..great fun on November 17. … (2 comments)
la quinta short sale expert: La Quinta short sale expert CLOSES another one!
- 10/25/12 11:52 PM
The numbers of Short Sales in La Quinta, California and the Palm Springs Valley in general are dwindling. I'm continuing to close my remaining 2012 short sales before the Debt. Forgiveness Act expires on 12/31. This cute as a bug home in the La Quinta Cove closed yesterday after approx. 120 days including the 45 days for the loan. Chase held the note, primary residence, Sellers were relocated for a job. Chase was very decent to deal with and this one was relatively smooth. Buyers came up to CHases' counter and moved to close. No cost to Sellers. No cost to … (1 comments)
la quinta short sale expert: Palm Springs Valley housing inventory continues to decline..
- 10/25/12 12:12 AM
The Palm Springs Valley is a resort destination. Our winter temperatures cannot be beat- day time temps are normally near 80 degrees and the evenings cool to about 40 throughout the winter months. It really is special here. Buyers continue to invest in our local market. Investors swept through during the trough, particularly in the entry level market when it was $150,000 and below. Those days appear to be gone. When a home hits the market priced that low, it doesn't last and generates multiples. The entry level price has risen, though still below $200,000 making it very affordable. Yesterday's local … (1 comments)
When the pattern became clear in the August data, it was easy to assume the Florida Phenomenon had simply moved west. There certainly were similarities. California, with its high housing prices, has virtually the same number of underwater homeowners as Florida, about 2 million. It also has as large number of investors, though mostly domestic, not foreign. Residential real estate investing as we know it today has … (0 comments)
la quinta short sale expert: Short Sale Referral Fees..Not so much.
- 09/18/12 10:32 AM
I have received many calls over the years, from Agents that don't want to handle their clients' Short Sale Listings. They call me because I've been doing them for over 4 years, am certified and darned good at getting them CLOSED here in the Palm Springs Valley of California. I'm flattered. Here's my own personal rule for referral fees for Short Sale Listings.. I do not pay referral fees unless the value of the property is at least $500,000. That's it in a nutshell. If it is, then I will do the standard 25% referral fee. For less priced properties, if it's a relatively … (2 comments)
la quinta short sale expert: Short Sales and the Mortgage Debt Relief Settlement..
- 09/12/12 10:40 PM
We all know that 5 of the largest Lenders were spanked slightly with a 20 billion dollar settlement about 5 months ago by the Federal government. I am not sure how the settlement system works exactly, but I understand that Short Sale approvals count as "X" toward their settlement amount and principle reductions count as a larger "X". My own Short Sales have been moving along at about the same speed for approvals as in 2011, so I have not seen the speeding up of the Short Sale process that I had thought would happen. Joseph Smith is the Mortgage Debt Oversight manager and he … (0 comments)
la quinta short sale expert: La Quinta short sale; APPROVED!
- 09/10/12 12:34 PM
Another Short Sale approval scored by your La Quinta and Palm Springs Valley short sale specialist. Certified and experienced, I list my Short Sales to get them APPROVED! Otherwise..what's the point??? 52255 Avenida Obregon, La Quinta CA. Listed to approval in approx. 90 days. Primary Residence, one note with Chase. Job relocation is the hardship here. Note Value of approx. $185,000 Approved Sales Price of $135,000 I list my Short Sales with one goal in mind..to close them! They can be frustrating, but if my clients understand the process thoroughly, are comfortable with my guidance, and get me docs as soon … (0 comments)
la quinta short sale expert: GMAC calling.."Do you want to list this home as a Short Sale?"
- 09/06/12 01:16 PM
Another interesting and really, pretty unbelievable short sale story. I always looked forward to my GMAC short sales because they generally responded to my offers relatively quickly. Then 3 months ago, I took a Short Sale Listing with one PML with GMAC. Yippee..I'm psyched! Listed it at Fair Market Value. Sellers are only 60 days late, primary residence, job relocation from California to Arizona. I reduced it carefully over the next 30 days. At about 10% below FMV, I got a cash offer. Sweet! Submitted to GMAC..uh-oh..I soon found that things had changed with GMAC. They had hired a 3rd party … (3 comments)
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