menlo park short sale agent: Menlo Park Distressed Sales 2011 Jan-June - 07/06/11 04:06 PM

  It's time again. Curious about how many distressed properties there really are in Menlo Park?  Despite what you may be reading these are the homes for sale or sold on MLS as Short Sales or Bank Owned.
Sold: 
Short Sales: Single Family Homes  8
Short Sales: Townhome or condo:  1
Bank Owned: Single Family Homes  6
Bank Owned Townhomes or Condos  0
 
Active:
Short Sales:  Single Family Homes  3
Short Sales Townhomes or condos   1
Bank Owned Single Family Homes   3
Bank Owned Townhome or Condo    0
 
Pending Sales:
Short Sales: Single family homes … (0 comments)

menlo park short sale agent: Menlo Park Short Sales: Get Those HOA Dues Paid - 07/05/11 07:49 AM

Right now it is estimated that nationally 1 in 4 homeowners owes more on their mortgage than their home is worth. You may be be one of those homeowners.  While not everyone who owes more money than their home is worth is going to sell that home, if they do, it will have to go through the short sale process. If you decide that a short sale is the best option for your circumstances be sure and check with a lawyer and/or accountant to get the best legal and tax advice.  You may find yourself unable to make the payments … (0 comments)

menlo park short sale agent: What is The Difference Between a Bank of America HAFA and Co-operative Short Sale? - 05/29/11 12:31 PM
Bank of America has made great strides recently in processing short sales.  For many agents they have gone from being the least favorite to the most favorite bank to work with.  They have managed to do this in part by switching to an online documentation system for short sales, called Equator, but I also think it is a corporate decision to work out an orderly way to deal with defaulting homeowners.
B of A has recently instituted a new program called the Co-operative Short sale Program.  The gist of this program is to approve a short sale before the home is … (4 comments)

menlo park short sale agent: Menlo Park Wells Fargo Short Sale Default vs Eminent Default - 05/13/11 10:16 AM
I frequently hear the question "Can I short sell my house if I have not stopped making payments."  The answer to this depends on your lender, the investor on the loan, and the phases of the moon.  However, at least right now, if you have a loan with Wells Fargo then at this moment in time they will look at approving a short sale if you have not stopped making your payments.  Wells Fargo has two different review processes, one for currently defaulted and one for eminent defaults.  So if you are currently making your payments, but you have circumstances which … (0 comments)

menlo park short sale agent: Menlo Park Ca Distressed Property Watch - 05/03/11 12:56 PM

Distressed Property Watch Menlo Park Ca.
 
The first quarter of 2011 has net seen a lot of activity of distressed properties in Menlo Park.  Here’s the update:
 
1.     Sold foreclosures: 4 single family home  0 condos  All are in the Belle Haven neighborhood
2.     Active and pending foreclosures: 5 All single family homes:  3 Belle Haven, 2 West of 101
 
1.     Sold short sales:  1 condo 4 Single family homes: Condo west of 101  homes, est of 101
2.     Active and pending short sales:  21   20 single family homes and 1 condo 14 are east of 101 and 7 are west
 
Total Homes sold in first quarter:  86 … (0 comments)

menlo park short sale agent: Menlo Park Short Sale Approval Today!!!!! - 04/29/11 04:30 PM
Well, it has taken a lot of months, and 4 buyers, but I finally got approval today from Chase for a short sale in the Belle Haven neighborhood of Menlo Park.  So far everyone is delighted, and hopefully we will make it through the loan and property contingencies. 
Short sales are sold "As-Is", period. Banks do not allow any credits, repairs, or other consessions for things that are wrong.  That is why I try to get inspections on all my short sale listings before they go on the market. That way there are fewer surprises at the end.
Nothing is a … (2 comments)

menlo park short sale agent: Bank Of America Loan for Menlo Park Short Sale Buyer: Is it Really Approved - 04/07/11 03:01 AM
I just had the strangest conversation with a B of A Lender for a Menlo Park Short Sale one of my buyer's is purchasing.  First I must say this is not the broker I normally deal with at Bank of America, but someone who came highly recommended to my buyer.  Two weeks ago this broker told me the buyer was approved and we just needed the appraisal.  Yesterday he tells me the appraisal came in fine.  So I ask the logical question, "Can my client remove his financing contingency or are there still conditions that concern you. The answer I get … (0 comments)

menlo park short sale agent: Belle Haven in East Menlo Park Ca is THE place to invest Right Now - 03/21/11 09:56 AM
I have to admit that in a toss up for best picture between The Social Network and The King's Speech I was neutral.  I think they were both fantastic, with great scripts and acting for both. However, when it comes to investing in real estate, "The Social; Network" wins hands down.
You are probably thinking I am a little nuts right now, but there is a method to my madness.  Facebook has purchased the east Menlo Park Sun campus.  There are going to be many many young Facebook employess looking for a place to live close by. Facebook encourages their workers … (0 comments)

menlo park short sale agent: What if I Want to Buy A Menlo Park House That Should Be a Short Sale But Isn't - 03/07/11 04:21 AM
While much of the Bay Area has seen a large increase in the number of homes being sold as short sales there have not been very many Menlo Park homes or Palo Alto homes that are being sold this way.  However, as long the housing market has not appreciated back to the peak levels, and there are still people who need to sell homes that are worth less than the mortgages on them, short sales will be here, and possibly in increasing numbers.  So what happens when you find a home you really want to buy but it is priced higher … (0 comments)

menlo park short sale agent: Why Hasn't My Offer For menlo Park Short Sale Been Submitted Yet? - 01/28/11 02:28 AM
Question: We wrote our offer over a week ago. Why hasn't the listing agent presented it yet? The offer has expired. Should we withdraw? Are they playing games and using this to get a better offer?
Answer: Good question. In our area if a seller or agent believes there are going to be multiple offers or wants to have multiple offers they will often set a date for offers and either not present any offers until that date, or keep presenting offers as they come in until that time.  In this case the short sale was listed right at market value, not … (1 comments)

menlo park short sale agent: What is a BPO? - 01/23/11 04:02 AM
Question: My lender said that the offer of $360,000 on my house was too low because the realor hired by the bank to perform a BPO said it was worth $380,000. What is a BPO?
Answer: A BPO stands for Broker's Price Opinion. When a lender wants to know the market value of a home for that moment in time they will often hire a realtor ( or a company who hires realtors) to give them their opinion of what the current market will bear for the property in question. This is not a full appraisal but there are certain parameters that must be … (3 comments)

menlo park short sale agent: How Does A Short Sale Work? - 01/17/11 03:03 AM
Question: I am interested in a house that is a short sale. How does that work?
Answer: That is a huge question! Here is the very simplified version of the answer:
•1.       The seller owes more money to the bank than home is worth but still needs to sell it.
•2.       The seller needs to get permission from the bank to sell the house for market value and have the bank agree to take less than what they owed.
•3.       If there is more than one loan or other liens against the house they all have to agree to accept a … (5 comments)

menlo park short sale agent: Relocation Expenses From a Menlo Park Short Sale - 12/30/10 04:47 AM
Relocation Expenses From a Menlo Park Short Sale
 
The owners of a home in Menlo Park just got a short sale approval from Aurora.  They asked me the following:  "The approval letter did not say anything about $3000 towards relocation expenses. On their web site they said we could get that money for our relocation. Do you know how we can get it?"
Here is the answer. If this were a HAFA short sale which is a short sale where the government makes the rules, the bank agrees to do certain things when they approve the short sale, including giving … (0 comments)

menlo park short sale agent: The Whole Neighborhood Does Not Have to Know About Your Palo Alto Short Sale - 12/23/10 03:30 AM
If you want to sell your home but it is worth less than your mortgage then you are not alone. A large percentage of homeowners are in this situation.  Fortunately, in the last year many banks have made the process of doing of short salesmore efficient and are approving short sales in record numbers.  However, many homeowners want to keep their privacy while this is happening. If you are a Palo Alto homeowner, or a homeowner in the surrounding areas like Menlo Park, Los Altos, Portola Valley, Woodside, Redwood City, or Mountain View, and do not want your neighborhood to know … (3 comments)

menlo park short sale agent: Menlo Park Short Sale and A Seller's 401 K - 12/15/10 07:20 AM
I have a Menlo Park short sale listing that is in escrow. Chase was the original lender and is now the servicer of the loan.  What that means is that after Chase made the loan they sold it to another investor. It could have been sold to Fannie or Freddie, Wall Street, another bank, or an individual. The important thing to remember is that this investor is The Decider.  The wonderful negotiator at Chase does not get to make the final decision, the investor does.  Now if you have a loan with Chase and have gone onto their web site to … (2 comments)

 
Marcy Moyer, Probate, Trust, and Investment Specialist (eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales) Rainmaker large

Marcy Moyer

Probate, Trust, and Investment Specialist

Mountain View, CA

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eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales

Address: 455 West Evelyn Avenue, Ste 1101, Mountain View, Ca, 94041

Office: (650) 619-9285

Mobile: (650) 619-9285

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Up to date information on real estate in the Silicon Valley and greater San Jose/San Francisco area. Contact Me Interested in selling your home? Contact me to get a professional estimate. Marcy Moyer Call: (650) 619-9285 My Palo Alto real estate listings Visit Short Sale Superstars


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