sacramento: A bad escrow officer can cause LOTS of headaches in your transaction...
- 10/01/09 09:26 AM
ARRGGHH! If you follow me on Facebook, you will know that I have been experiencing great frustration this week surrounding delays to the close of escrow. What was the problem, you ask? A completely incompetent (or lazy, apathetic...all of the above) Escrow Officer.This Escrow Officer, who shall remain nameless along with her company, caused major frustration and unnecessary delays to the closing of the transaction. Just for the record, the escrow holder is a neutral 3rd party that handles the money in the transaction.Loan documents were delivered by the buyer's lender the afternoon of Thursday, September 17th. The loan officer excitedly … (0 comments)
sacramento: The Secrets to my Short Sale Success...
- 09/28/09 03:56 PM
If you follow me on Twitter, you will already know that I had a chat over lunch today with the Director of Training for Lyon Real Estate, Michael Gray. He told me some pleasantly surprising news...I have the highest success rate at closing short sales of any agent at Lyon Real Estate! Yep, little old Erin Attardi. WOW! Not sure just how many agents are now at Lyon, but I think it is hovering around a thousand or so. We have 120 agents in my office in Sierra Oaks alone, and there are 18 offices!So what are the secrets to my … (4 comments)
sacramento: Where in the World is Erin Attardi?...Back home in Sacramento now...LOL
- 09/22/09 04:10 PM
Yes I am ok...I got a few emails from my regular blog readers asking if I was ok, and why I had not written anything new lately (including my 4th installment of Erin's Sacramento Short Sale Experiment, which I will write a bit later this week). My answer? It's the end of the summer, and I have been playing! Even Realtors deserve a day or two off now and then, right? If you follow me on Facebook or Twitter, you will already know I took two little excursions in the last week, and both coincidentally were to celebrate my parents' birthdays. … (0 comments)
sacramento: Sacramento Home Buyers - Check for Registered Sex Offenders using the Online Megan's Law Database...
- 09/22/09 04:07 PM
Did you know that there is a paragraph in the California Residential Purchase Agreement (in paragraph 5C) that informs prospective home buyers that information is available to them pertaining to the proximity of registered sex offenders to the property they seek to purchase. The paragraph reads:"Pursuant to Section 290.45 of the Penal Code, information about specified registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at http://www.meganslaw.ca.gov. Depending on an offender's criminal history, this information will include either the address at which the offender resides or the community of residence … (2 comments)
sacramento: New Listing in Westlake - 4951 Trouville Lane, Sacramento / Natomas 95835
- 09/22/09 04:05 PM
Get ready to fall in love! Beautifully appointed 3-4 bed, 2.5 bath home in Westborough Village. Enviable open floorplan, gourmet kitchen with island, LOTS of cabinets for great storage. Master bedroom is light and bright with many windows. Great patio yard is low maintenance! Down the street from community park. Don't wait! Offered at $195,000 subject to lender approval of short sale. For more photos and information, visit http://www.4951TrouvilleLane.com.
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sacramento: Loan Modification Companies - DO NOT FALL VICTIM TO A SCAM!
- 09/10/09 01:13 PM
I got a call from a very nice lady this afternoon who lives a few doors down from one of my short sale listings. She wanted to know if the house was pending sale or was sold, and for how much, so she could get an idea of what her house is worth. Since the sale was not yet complete, I could not provide her with all of those details. I asked her if she herself was thinking about selling, and she explained that she had just lost her job and was unable to afford her mortgage payment...but mentioned she had … (1 comments)
sacramento: Sacramento Short Sale Extension drama ends happily - with a closed escrow!!
- 09/09/09 11:39 AM
I am happily eating a celebratory frozen yogurt right this second...I just received confirmation from Placer Title that one of my short sale listings has closed! If you have been reading my blog over the last couple weeks, you will know that I have been feverishly working to get an extension on a Natomas short sale that was supposed to close by August 31st, but the buyer could not perform and get her lending in time. There was a Trustee Sale set for September 8th (yesterday), and I had been repeatedly told by the short sale lender (Aurora Loan Servicing) that … (3 comments)
sacramento: Happy short sale buyers FINALLY close escrow after quite a roller coaster ride!
- 09/08/09 05:12 PM
If you follow me on Facebook or Twitter, you will already know that one of my buyer clients closed escrow last Thursday on a short sale.Just one of many transactions in the life of Erin Attardi, right? I wish. This was a unique and crazy transaction...even by short sale standards!My clients randomly found this house back in March when happened to drive by it the first weekend it was on the market. It was being held open, so they went in, checked it out, and absolutely fell in love with it. I received an excited phone call that afternoon, and a … (4 comments)
sacramento: So Close, Yet So Far Away...the short sale approval extension drama continues...
- 09/04/09 12:29 AM
I did the happy dance in my office briefly today! This morning, after multiple phone calls, hair pulling, sleepless nights (yes, I have literally been having nightmares about this short sale transaction), I received a written short sale approval extension for my transaction that was supposed to close on 8/31! WHEW!So of course, I excitedly emailed it to the buyer's loan officer, buyer's agent, the seller, the escrow officer at Placer Title...this short sale extension is valid through 9/18/09! YAY! Mission accomplished, right?WRONG. A few hours later, I received a call from the buyer's loan officer that there is one sentence … (1 comments)
sacramento: In Search of the Elusive Sacramento Short Sale Approval Extension...
- 09/04/09 12:27 AM
If you read my post last week regarding the fact that short sale approval extensions are just not guaranteed, keep reading...and if you did not read that post, keep reading anyway.Approval for this particular short sale expired yesterday on 8/31/09. The buyer has not been able to perform and close her loan. In fact, as of yesterday (and thus far today), the buyer's loan documents have still not been received by Placer Title. UGH.A Trustee Sale (foreclosure...the end of the line...auction on the Sacramento County Courthouse steps) had been scheduled for 9/8/09 - next Tuesday, right after the Labor Day holiday.Well … (0 comments)
sacramento: Sacramento County Property Tax Re-Assessment SCAMS...BEWARE!
- 09/04/09 12:25 AM
I received a call last week from a client who wanted to inquire regarding the legitimacy of a company promising to drastically lower his property taxes for a $495 fee. I have posted about this before - so folks please be very aware that there are many "Property Tax Reassessment Service" scams. If it sounds too good to be true, it probably is!If you receive something in the mail that looks official regarding a fee-based service that promises to lower your Sacramento County property tax assessment - please be aware that this is NOT legit! Do not provide any credit card … (0 comments)
sacramento: Sacramento Short Sale Buyers - PLEASE be prepared to close your home loan in LESS than 30 days!!
- 08/26/09 02:18 PM
DO NOT ASSUME THAT AN EXTENSION WILL BE GRANTED BY THE SHORT SALE LENDERS IF YOU CAN NOT CLOSE BEFORE THE SHORT SALE APPROVAL EXPIRES.UGH. I have blogged in the past about what buyers should expect in their Sacramento Short Sale experience. Please buyers - if you are ever-so-patiently waiting for an answer on a short sale, please do yourself and everyone else a favor by having your lending ready to go. I have also written blog posts about how to select a good lender.There are many new regulations that have recently taken affect that will lengthen the time it takes … (1 comments)
sacramento: Erin Attardi's Sacramento Short Sale Experiment...Part 3!
- 08/13/09 09:06 AM
Time for my third installment of Erin's Sacramento Short Sale Experiment! I am sure ya'll are just on the edge of your seats to find out just what has transpired in the world of short sales in our Sacramento metro area? For those of you not following along at home, or perhaps if you are reading this for the first time, my short sale experiment is tracking a few different Sacramento zip codes to see what how the short sale activity increases or decreases over time as compared with traditional resale listings (where there is a seller with equity in a … (0 comments)
sacramento: New Listing - 3174 17th Street, Sacramento / Land Park 95818
- 08/12/09 04:06 PM
Charming Brick 2 bedroom, 1 bath, 1,203sf Cottage in Land Park! Contractor's own home features many modern amenities of today while retaining all the charm of yesterday. Renovated kitchen offers granite counters and backsplash, gas stove, dishwasher, and built-in eating bar. Spacious bedrooms with lots of closet space. Updated bathroom with tile counters and tub surround. Beautiful wood flooring throughout. Dual pane windows. The back yard is an outdoor oasis with a built-in swimming pool, surrounded by hardscape and planter beds featuring lush landscaping. Detached 2-car garage. Close to local eateries, transportation, William Land Park, & just minutes to Downtown. Offered … (1 comments)
sacramento: Back home in Sacramento - even Realtors need time off!
- 08/11/09 03:18 PM
Realtors joke around that one way to get busy is to go on vacation!...well I was already busy, and of course still had my cell phone and laptop within reach just in case of a transaction emergency. Luckily I did not have to fight any fires until today when one of my short sales experienced a crazy hiccup - but that is an entirely different blog post for another time! Well if you follow me on Facebook or Twitter, you will know that I just returned this evening from a week away. I went on a fly fishing trip to … (0 comments)
sacramento: Got Mortgage Insurance? How it may affect your short sale...
- 08/05/09 03:28 PM
With the bulk load of short sales that I am negotiating, there is an interesting phenomena I am running into more and more these days.Lenders are placing their own mortgage insurance policies on loans. This is not your typical private mortgage insurance (PMI) that a borrower pays on a loan in instances they put less than 20% down. Instead, the lender places it on the loan after it is originated at their own expense and without the borrower's knowledge. As a short sale listing agent, often times I will not even discover this information until I get to an advanced stage … (0 comments)
sacramento: How Sacramento Home Buyers Should Select a Lender...
- 07/30/09 11:55 AM
Most of my buyer clients ask me for a referral to a loan officer as they start their loan pre-approval process. Before I divulge who I recommend, I would like to describe what buyers should look for in their ideal lender. Over the last 90 or so days, there have been several new laws and regulations that affect how the lending process functions. There are several critical pieces that buyers should look for in a lender that will make things run more smoothly in your purchase transaction. Ideally you will choose a direct lender (not a broker). One that lends its … (0 comments)
sacramento: Countrywide (aka, Bank of America) offers a new Foreclosure Relief Settlement Program
- 07/24/09 06:13 AM
Per an article in the online edition of the Sacramento Business Journal, Bank of America has allocated up to $150 million nationwide to assist certain borrowers who experienced a foreclosure, short sale or deed in lieu of foreclosure on mortgages originated by Countrywide. Borrowers will be notified by letter if they are eligible for a settlement payment (settlement amounts will vary). There are several qualifications for this program. you can view an FAQ here. Inquiries concerning the foreclosure-relief program should be directed to Rust Consulting at (866) 411-6987. … (1 comments)
sacramento: Negotiating Repairs on Sacramento Short Sale listings....
- 07/23/09 07:46 AM
If you follow me on Twitter, you probably already saw that earlier this week I received written confirmation that a short sale lender agreed to absorb $9,110 in repairs on one of my listings.Generally speaking, Sacramento short sales are sold "as-is" in their current condition...however some short sale lenders will agree to pay for 'catastrophic' repairs. In this instance there were nearly $6k in termite repairs, and $3k in "health and safety" repairs that were required by the buyer's lender to obtain an FHA loan.From the begining, I had shared with the short sale negotiator that I felt this particular home … (0 comments)
Last week the Sacramento Association of Realtors "Young Professionals Council" did yet another fundraiser. We attended a Sacramento Rivercats game, and had a really fun tailgate party that was sponsored by Wells Fargo Home Mortgage! Between ticket sales, the sponsorship, and donations, we raised $1,004.50 for Sacramento's Moral Values Program (aka, MVP). Up next, we are planning our 2nd Annual Bowling Tournament to benefit the California Association of Realtors "Housing Affordability Fund"...coming in September!
ARRGGHH! If you follow me on Facebook, you will know that I have been experiencing great frustration this week surrounding delays to the close of escrow. What was the problem, you ask? A completely incompetent (or lazy, apathetic...all of the above) Escrow Officer.This Escrow Officer, who shall remain nameless along with her company, caused major frustration and unnecessary delays to the closing of the transaction. Just for the record, the escrow holder is a neutral 3rd party that handles the money in the transaction.Loan documents were delivered by the buyer's lender the afternoon of Thursday, September 17th. The loan officer excitedly … (0 comments)
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