foreclosure: Short Sale Approved!
- 02/09/08 05:04 PM
I just want to thank Select Portfolio Services for finally getting with the program and streamlining the short sale process. I have been working with them since October on getting a short sale approved. The first offer we got and they just did not have their act together. I submitted the offer 4 times and after about 1 1/2 months the buyer gave up. About a month later we got another offer and although I did have to submit the offer twice - we were able to get it approved within 21 days. There are still some kinks I think they need … (5 comments)
foreclosure: Ugly Home Needs New Owner! Investor Dream Home!!
- 11/29/07 06:57 PM
I know as an agent I am supposed to show all the positive aspects of a home ... but in this case- I am also realistic and honest. I have a new listing - it is an investors dream. The property is in East Lancaster- 4 bedrooms, 2 baths and 2064 sq. feet and on almost 1 acre! Although this home is a complete mess, with a whole lot of cleaning and repairs this home could make a great first time home or rental property. There is a large detached garage that could make a great workshop.This is an REO an the … (8 comments)
foreclosure: A Few of the Banks do "Get it"
- 11/16/07 04:32 AM
This is a follow up to my How do we get the banks to get with the Short Sale Program?? post a few months ago. Today I called one the the servicing companies I have been working with to follow up on a short sale package I submitted several weeks ago. After staying on hold for several minutes, and getting switched to several different people they told me they could not find the package I submitted ... errhhhh "not again I though" - but then I heard s cheery "But wait" from the voice on the other line. "We have recently streamlined our processes" … (6 comments)
foreclosure: Short Sale Listings Need Photos!!!
- 11/11/07 04:26 PM
I know we have all talked about lazy agents not putting photo's in the MLS but come on agents - why bother taking a short sale listing if you are not going to at least put a photo in the MLS?? I was running comps in the MLS for a BPO and it's amazing how many agents who are taking the time to list a short sale home have no photo and the descriptions goes something like this: "This is a Short Pay Listing,Price is not Guaranteed 4bed 3 bath home in great neighdorhood near schools, shopping centers and also close to … (8 comments)
foreclosure: Certified Pre-Foreclosure & Short Sale Specialist
- 11/08/07 04:12 AM
I just completed her training as a Certified Pre-Foreclosure and Short Sale Specialist. I am one of only 150 such Certified Specialists in the State of California. There are several alternatives to foreclosure, such as a payment modification plan, a repayment plan on late amounts, or a short sale, which causes less damage to a homeowner's credit scores. I am trained to work with lenders' loss mitigation departments, and complete the specialized paper work needed for a successful short sale. Please give me a call if you have any questions (661) 618-9444 or e-mail me @ DonnasDreamHomes@earthlink.net
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foreclosure: Interesting Anti-Investor Legislation being passed
- 10/17/07 05:37 PM
A friend of mine sent me an e-mail today with a few examples of recently passed legislation from other states that has been passed. I thought that California was one of the toughest states for investors - but here are a few examples of anti investor legislation which has recently been passed. These are just a few example as to why it is important that you need an experienced agent if you are doing real estate investing. You must be careful and know the laws in your state or you could unknowingly break laws and get in hot water! MARYLAND Pre-Foreclosures * Restricts fees and … (9 comments)
foreclosure: The never ending short sale
- 10/15/07 12:00 PM
Well - I guess the title of my blog is really not correct it will end and hopefully not to the auction. This has been the most frustrating short sale I think I have ever worked on. It started out better then most- I had a great contact that kept in touch at least twice a month UNTIL I got the first offer and then it seems like all heck broke loose! To summarize: I got a short sale listing, within 2 months I got an offer, when I tried to submit the offer they told me to wait and not submit it because … (7 comments)
Do not look at these numbers as doom and gloom to the real estate market - look at it as an opportunty to find some GREAT deals in real estate. With more homes on the market, buyers are getting great deals on homes - many time the seller will pay the buyers closing costs. There are even a few loans available that will allow the … (2 comments)
foreclosure: Pay Off Request - 14 days for a home going to auction in about 1 month!
- 09/27/07 07:39 AM
I am so frustrated because I have been working on a short sale for months. When I first got the listing the bank was great - they were calling me for updates every couple of weeks. It took about 5 weeks but I got an offer on the property. Upon receiving the offer I did a complete package including the financials, HUD, Hardship Letter, BPO and all the additional backup I had to prove the hardship. I repeatedly called for weeks and no reply. When I finally was able to speak to the rep. they told me they never received the offer … (9 comments)
foreclosure: HELP!!! Short Sale Tax Question - Regarding Social Security
- 09/21/07 11:49 AM
I know that most of us are not accountants and we are not able to give tax/legal advise - but does anyone know if a client is on social security and is in foreclosure will the 1099 get them kicked off their SSI benefits? I know this is a general question but I guess I want to know if anyone has heard of this happening. My client is looking for a tax accountant that may be able to give her advise over the phone because she just had a knee replacement and is unable to get out to see anyone. Her tax preparer does not know … (8 comments)
foreclosure: Paying Up Front to do a Short Sale
- 09/18/07 05:35 PM
Las week I went to a class offered by our local title company regarding short sales. The class was only 1 hour long and although I know there is probably not much anyone can teach in one hour regarding short sales I decided to take the time out of my busy schedule to attend. During the "class" the "instructor" did have a few good points for beginners - I was actually surprised of all the good points she was able to squeeze into the first half hour and I was impressed she was able to keep the class under control and not … (6 comments)
foreclosure: Has Your Short Sale been Accepted??!! Please Let Me Know!
- 08/24/07 06:55 PM
With all the changes in the industry lately I wanted to see if I can get a somewhat accurate account of what short sales have been accepted lately and from which banks. The information I would like to know is : 1) Which Bank accepted the short sale 2) How much of a discount did they take 3) How long had did the home owner have the note before they defaulted 4) What was the reason for the hardship 5) How long did the process take (one you had the offer to the date the bank accepted) I have heard "rumors" of people saying they have had short … (25 comments)
Rosamond 68 18 55 Mojave 21 4 16 California City 103 27 50
If you have any questions regarding foreclosures in the Antelope Valley or Surrounding Areas feel free to contact me : email … (0 comments)
foreclosure: Predatory Practice Help Needed!!!
- 07/28/07 11:49 AM
Hi there AR Community! I had a panic phone call today from a very nice gentleman who has two investment properties that he purchased two years ago that he is about to miss a payment on. He called me asking if I could help him with a short sale. When we met at my office I asked him the usual battery of questions I ask to screen to see if the short sale would even be a good option for him. After a few moments I told him that I would first like to try to work out a loan modification to see if we … (6 comments)
foreclosure: State By State Foreclosure Law
- 07/26/07 09:44 PM
I came across this website this evening and thought it might be useful to some of the agents new to working the foreclosure market. It is very important to know the laws in your state before you take on the sale of a property it can save you and your clients a lot of headaches. http://www.foreclosureuniversity.com/studycenter/foreclosurelaws/ This information may also be useful for any of your investors that you may have that may want to purchase properties in other states.
… (7 comments)
foreclosure: Lancaster California in Top Ten "Fastest Growing U.S. Cities"
- 07/26/07 07:36 PM
According to CNN Money Lancaster California is ranked #10 as one of "Fastest Growing U.S. Cities" (http://money.cnn.com/2007/06/27/real_estate/258_fastest_growing_cities/index.htm). Palmdale California was #25. This is great news for all of the Antelope Valley residences that are concerned about the rising amount of foreclosures. The current market conditions should be looked at as a great opportunity for those who would like to buy second home and for those first time buyers with good credit. There are some amazing deals out there. Tonight I looked at a property in Antelope Acres that was almost 5,000 sq. feet with about 10 bedroom rooms on 1.5 acres with an in-ground pool for under $265,000! … (1 comments)
foreclosure: How do we get the banks to get with the Short Sale Program??
- 05/01/07 11:51 AM
Today is just one of those days that I wished I had just slept in and taken the day off work - so I am going to take a break and write for a moment so that the I do not bite off the head of the next person that walks through the door! With that said - I am taking a moment to breathe deeply and count to ten. :-) I am not new to the business as I have been a full time Realtor in the Antelope Valley for over 6 years - but it has just been the past few months that I … (175 comments)
foreclosure: Save money on your taxes with a little fun & humor!
- 04/28/07 08:19 PM
Just wanted to share some fun and laughter. There are many blogs about using kids in advertising - although I have not used this photo - I have used my daughter in the past in a video of a ranch listing I had while she was riding a horse. One of the great things about having your business is that can hire your kids and pay then as an employee to save money on your taxes! If you are unsure how to do this you must get a great CPA and tell you the many benefits of having a corporation. We are going … (10 comments)
foreclosure: Pre-Foreclosure Needing New Owner!- 1653 Baring Street Lancaster
- 04/28/07 10:24 AM
2003 Pre-Foreclosure Home in Lancaster! Nice 4 bedrooms /2 Baths /1621 sq.feet/Open Floor Plan/RV Acess/Custom Wood Shutters/Pool Size lot with patio/Indoor laundy/Cul-de-Sac street - Lender is being Co-op and only $299,900 call me today to view this home. If this is not what you are looking for, I have other resale and foreclosure properties available. www.DonnasDreamHomes.com … (0 comments)
foreclosure: Quartz Hill, California Short Pay- Bring me an offer
- 04/24/07 06:57 PM
Pre-Foreclosure! Bring your animals to this Nice Single Story 3 Bedroom 2 Bath home in Quartz Hill, 1638 sq. ft on .39 acres. Family Room with Fireplace, Nice Kitchen with Oak Cabinets,Formal Dining Area. RV Access with RV dump on side of the house, property is fenced and cross fenced. Lots of potential - seller broke hip and is unable to maintain property. Needs some TLC, but the Bank is working with us so please bring us an offer! price Drop to :$315,000 <!-- <hr id="picHR"> --> … (1 comments)
Antelope Valley Real Estate,Palmdale, Lancaster Real Estate Investing, Short Sales & Foreclosures, From First time home buyers to Seasoned Real Estate Investors
I just want to thank Select Portfolio Services for finally getting with the program and streamlining the short sale process. I have been working with them since October on getting a short sale approved. The first offer we got and they just did not have their act together. I submitted the offer 4 times and after about 1 1/2 months the buyer gave up.
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