shelley gross: Loan Modifications and short sales are so frustrating but what choice do you have? - 01/05/11 05:35 AM
I just came back from Australia and New Zeland.  I stupidly believed this was a quite time and the banks would be instituting no new foreclosures during my absence.  I now know there is  nothing to be surprised about during this crazy period in our history.  I was there one night and got my first call about a homeowner house being foreclosed on the minute I come back.  Of course, I ran across the street to the internet cafe and started working on delaying the process until my return.  I figured that was a fluke and my vacation would  be continued without … (0 comments)

shelley gross: Modification , Short Sales, or Foreclosures, Do They End Up the Same - 11/19/10 07:10 AM
Modification , Short Sales, or Foreclosures, do they end up the same?
I know so many homeowners confident that they are in the midst of a modification and therefore don't have to worry about their homes. These poor people are misguided in their thinking. Many of these people have been foreclosed during a trial modification or in the middle of getting one.
A perfect example of this is a family in Long Beach who owned their home for over 17 years and were current on their modification and were foreclosed on anyway. They signed up for and got the modification because … (0 comments)

shelley gross: Robo-Signing and the Foreclosure Moratorium - 11/15/10 04:08 AM
Robo-Signing and the Foreclosure Moratorium
It sounds like good news that foreclosure filings for October were way down.  Unfortunately, you cannot take that statement at face value.  The only reason for the lower numbers was because of the foreclosure moratorium due to the robo-signing scandal.  In case you don’t understand what robo-signing is, it means signing documents without verifying the accuracy of its content. 
The truth be told, very few of the homeowners will get their houses back if they haven’t paid or if they can’t catch up on their mortgage.  But, what if there truly was a mistake and … (3 comments)

shelley gross: IS THE WHOLE WORLD FORECLOSING? - 10/14/10 08:13 AM
IS THE WHOLE WORLD FORECLOSING?
You heard that we are out of a recession from the newspapers. Can that really be possible? If housing prices increased  slightly it has been because there are fewer homes on the market that are realistically priced for today’s economy. My opinion is that another double dip recession is on the way. Researchers have increased the odds of this happening.
If this plays out, the housing market will drop another 20 percent before any recovery takes place. I know you are hearing the recovery will be in the year 2012. I really don’t see that occurring. … (2 comments)

shelley gross: Amongst All the Foreclosures, Did You Hear Our Economy is Improving! - 09/24/10 08:19 AM
Amongst all of the foreclosures, did you hear that our economy is improving? If you really study the numbers, you will realize all the money that was spent giving banks funds to provide loan modifications has certainly succeeded in one thing and that is delaying foreclosures. The numbers of foreclosures have certainly increased as of late. The amount of homes that are in the process of foreclosure has reached approximately 2.5 million people. An equal number of homes are 90 days, or more, late and are in default.
Does this sound like the economy is improving? You think about it. The … (2 comments)

shelley gross: The Appraisal: A True Evaluation of a Home’s Worth? - 09/10/10 02:09 PM
Every house for sale in today's real estate market must be sold twice. First, you must find a buyer ready, willing, and able to purchase the home. Second, you must sell the value of that house to a bank so they will agree to lend money based on the negotiated price. The second sale may be more difficult than the first in the current lending environment.
A mortgage is necessary in the vast majority of real estate transactions in this country. The buyer puts a certain amount of money 'down' and then borrows the remaining balance from a lending institution. The … (4 comments)

shelley gross: Supply Goes Up, Prices Come Down. It’s that Simple - 08/13/10 11:23 AM
Supply goes up, prices come down. It's that simple. The big question in real estate is what will happen with home prices over the next few months. The experts have already weighed-in predicting prices will probably take another dip. Their reasoning? Put simply, the inventory of homes on the market is greater than the demand for housing.
Demand will remain stable at best. No study or report is predicting a dramatic increase in demand over the previous estimates. PMI, Inc. is actually cutting their forecast back. In their most recent issue of The Home and Mortgage Market Review they announced:
"We … (2 comments)

shelley gross: What Will My Los Angeles House Be Worth Next Month - 08/06/10 06:01 AM
What will your Los Angeles house be worth next month? We always want to make sure that we get at least a fair price for anything we are selling. Truth be told, we hope we get top dollar and would not be upset if a buyer was willing to pay a premium above that. The same dynamics come into place when we are selling a home. We want at least a fair price. We usually list our house for a price above that hoping to either find a buyer willing to overpay or, at least, leave ourselves with some room to negotiate.
That … (0 comments)

shelley gross: Inventory of Unsold Homes Increased While Sales of Existing Homes Decreased In June - 07/27/10 07:28 AM
Inventory of Unsold Homes Increased While Sales of Existing Homes Decreased In June
According to the National Association of Realtors, the seasonally adjusted rate for June was 5.4 million units. Though up 9.8% from a year ago, purchases of previously owned homes dropped 5.1% in June. Throughout the country, there was only one exception to this drop in sales and that is in the Northeast where sales rose 7.9% from May. However, sales dropped by 9.3% in the West, which is a significant drop.
Tax credits were expected to clear up the inventory of some of these unsold homes. Unfortunately, what … (0 comments)

shelley gross: A Bill That Would Shield Homeowner’s Credit Ratings - 07/20/10 04:19 AM
Homeowners deserve to be shielded from unfair credit ratings when they have paid their mortgage modifications on time and according to their agreement. HR 5743, the Protecting Homeowner's Credit History Act, would shield homeowner credit ratings from adverse reports after the homeowner has a mortgage modified by a lender.
According to Congresswoman Jackie Speier, who introduced the bill…
"To play by the rules, modify your loan and then have it as a blemish on your credit report is just flabbergasting; it adds insult to injury," said Speier. "The credit system should not punish responsible homeowners who modify their mortgage payments to … (1 comments)

shelley gross: The Financial Overhaul to Prevent Massive Foreclosures - 07/10/10 06:23 AM
The Financial Overhaul to Prevent Massive Foreclosures
Congress has been working on a massive bill to protect the public from the horrific tragedy that happened in the housing market. The bill requires regulatory agencies to pass 350 rules, conduct 47 studies and issue 74 reports to protect the public in the future. Will it work? I doubt it.
I am trying to decide if I should be so pessimistic because most people want cheer leaders. Clinton didn’t get reelected because he spoke honestly to the public about the problems facing America. I am not the only one that thinks it … (0 comments)

 
Shelley Gross (Pacific Inter Capital Solutions)

Shelley Gross

Tarzana, CA

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Pacific Inter Capital Solutions

Address: 18607 Ventura Blvd., Suite 300, Tarzana, CA, 91356

Office: (818) 481-8697

Fax: (866) 419-0119



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