short sales: Is cash superior to financing? - 04/08/12 04:32 PM



Is a cash offer superior to one with financing?  Recently, I was asked why the seller accepted a cash offer over an offer with a loan contingency.  In your market, is cash preferred over financing?  
 
I think it depends on the type of sale and the seller.  I understand a cash offer is usually preferred by lenders.  I don’t think it depends on the type of market.  Whether it’s a buyer’s, seller’s market, normal market or a mixed market, cash has often been preferred by sellers over a purchase that’s been financed.  
 
In a … (9 comments)

short sales: I am Supposed to Get A Good Deal in Short Sales - 03/04/12 10:30 PM

 
 
"Everyone else is getting a good deal in short sales, why do I have to pay higher price?"  Does this sound familiar? Do you have buyers ask you about prices on short sales listings? Some buyers are expecting a $20,000 to $50,0000 savings, and perhaps more off the list price and receive a shock when their offers are countered by the short sale lenders. Unfortunately, most buyers don't understand how short sales are being priced and the dynamics involved.
 
 
The rationale for the expectations on discounts stem mainly from the fact that buyers know sellers are … (6 comments)

short sales: Mortgage aid offered to those who cashed out equity - 04/07/11 04:31 PM

 
The California Housing Finance Agency announced this week that people who cashed out equity on their home now are eligible for three of the four “Keep Your Home California” programs.
MAKING SENSE OF THE STORY
* Keep Your Home California is a state-run program funded with $2 billion from the U.S. Treasury’s Hardest Hit Fund. It is designed to help low- and moderate-income people who are unemployed or owe more than their home is worth pay their mortgage.
* There are four individual programs that fall under Keep Your Home California. Eligible homeowners can get up to $50,000 in … (4 comments)

short sales: Are More Homeowners Facing Foreclosure in San Luis Obispo County? - 10/30/10 08:14 PM
       Are more homeowners facing foreclosure in San Luis Obispo (SLO) County?       Between September 15, 2010 and to date, data from local tax records shows a decline in the number of notices-of-defaults (NODs) received by homeowners in SLO County.

The lowest number of NODs are received by homeowners in the city of San Luis Obispo.  Homeowners in the North coastal towns between San Simeon and Los Osos, and Five-Cities area registered a noticeable drop of 12.33% and 41.24% respectively. 
        On the contrary, the NODs filed on homeowners in North County, namely Atascadero, Templeton, Paso Robles, Shandon, Santa Margarita and Creston, rose … (3 comments)

 
Sherry Peckhoon Sim, Broker/Owner, Covering the Beautiful Central Coast (Sims & Company)

Sherry Peckhoon Sim

Broker/Owner, Covering the Beautiful Central Coast

Cayucos, CA

More about me…

Sims & Company

Address: 299 Cayucos Drive, Suite B, Cayucos, CA, 93430

Office: (805) 233-4315

Mobile: (805) 234-4315

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