short sale: Five Key Things that Happened in Real Estate in 2012...
- 01/15/13 02:30 PM
Five Key Things that Happened in Real Estate in 2012... ...and how they may effect you. 1. Mortgage rates were (and still are) at an all time low. Rates dropped to 3.31% which makes purchasing and refinancing decisions much easier. In the 1980s, rates were between 13-18% 2. Banks received $25 billion in mortgage settlement money. Although some banks chose to use the funds to bolster their bottom line, most used the money to help homeowners with settlements. A majority of the money was used to aid short sales and some was used for loan modifications. If you are exploring a … (4 comments)
short sale: What Is A Short Sale?
- 06/22/12 02:31 PM
What Is A Short Sale? Here's a good article from our CENTURY 21 Award blog. While short sales are still prevalent, many people are still unsure of the definition. A property is sold as a short sale when the balance of the loan exceeds the selling value of the property (the property is under water or upside down). Each short sale is different, but generally speaking they will follow this path: The sellers enlist the help of a real estate agent. The agent will come up with an asking price by creating a .CMA Once an offer is received, it is … (0 comments)
short sale: Banks Are So Smart
- 04/28/11 08:19 AM
My associate just closed a short sale that he's had listed for 14 months. I applaud his hard work and tenacity to struggle through months of problems. When he got loan one approved, loan two wouldn't agree to the settlement. When loan two finally agreed, the approval on loan one expired. He finally got both loans approved and the buyer walked. Eventually, everyone agreed but at what cost? Now, here's the part that really gets my blood boiling. No mortgage payments had been made during the 14 months so approximately $2500 per month times 14 months = $35,000. On top of … (4 comments)
3 bedroom, 3 full bath Condo Approx. 1489 sq. ft. Colonnade model - largest in the Terracina tract Quiet interior location; End unit with only one adjoining neighbor Soaring ceiling in living room Upgraded kitchen with granite counters and stainless steel appliances Upgraded baths with granite counters and dual sinks in master Gorgeous marble and hardwood floors Downstairs bedroom and full bath Crown moldings and designer paint throughout Cozy patio with canopy perfect for cool evening entertaining Upstairs laundry … (0 comments)
short sale: When Pending Isn't Really Pending
- 12/16/10 06:58 AM
You've searched the local MLS, driven all over town, shown your client several Active listings and they finally fall in love with the home that they must have, so you head back to your office to write an offer to purchase. As you check the MLS just to get the agent's email address, you find that the "perfect home" is now showing up as PENDING in the MLS...an offer has already been accepted by the seller and your client's hearts sink. (cue music: "Tears of A Clown") This happened several times this past year to my clients but I managed to … (24 comments)
short sale: Real Estate Definitions - Deed In Lieu
- 07/01/10 04:59 PM
PLEASE NOTE: The following post is not to be construed as legal, financial or real estate advice. Check with your local professionals as conditions and terms may vary by locality. Deed-in-lieu is a term that we are starting to see and hear a lot more in the media these days. A deed-in-lieu, actually called a deed-in-lieu-of-foreclosure is a process where a home owner "returns" the title of the home back to the lien holder in exchange for forgiveness of the mortgage. It is becoming increasingly popular with lenders and investors because it shortens the time and lowers the expense of taking … (4 comments)
This property is listed by Shelly Jackier / CENTURY 21 Superstars. … (5 comments)
short sale: Real Estate Definitions - Part 2 - Define Short Sale
- 11/02/09 10:18 AM
Short Sale - A short sale occurs when real estate is sold for an amount less than what is owed on the property's loan. The financial entity holding the loan accepts less so it is referred to as "short" of the amount due. A short sale requires agreement of both the seller (the person who originally purchased the real estate) and the financial instution holding the note of the short amount. While these types of sales are currently VERY popular, they are usually anything but short in terms the time required to reach agreement of all parties. Since there is no … (1 comments)
short sale: Orange County, CA Foreclosures Sales Drop Off
- 06/17/09 09:25 AM
Here's a quick snapshot of foreclosure sales over the past 60 days in Orange County California. Retail sales of foreclosure (REO) properties according to the Multiple Listing Service are down 11% from 30 days ago. These are sales to home owners and not "courthouse steps" sales. April 15-May 15, 2009: 839 REO retail sales 35 DOM (days on market) $145,221 Average Price May 15-June 15, 2009: 746 REO retail sales 37 DOM $335,307 Average Price For comparison, these are statistics for non-REO (equity and short sale) properties. April 15-May 15, 2009: 1769 retail sales 84 DOM $587,656 Avg Price May 15-June … (0 comments)
short sale: Mission Viejo Market Statistics for January 2009
- 01/07/09 08:15 AM
Mission Viejo Market Statistics for January 2009 by John Alesi, Mission Viejo REALTOR® Mission Viejo CA Real Estate These are the latest stats derived from the SoCalMLS service for the City of Mission Viejo, CA. These numbers only include listings on the MLS and don't include private sales or other transfers. HOUSES/SFR: Average Price: $667,810 Price per Sq. Ft: $304 Days On Market: 100 Inventory: 6.5 months supply CONDOS: Average Price: $304,400 Price per Sq. Ft: $273 Days On Market: 102 Inventory: 1.8 months supply Included in the listings shown above, 9 SFRs and 20 Condos are REO/Foreclosures. 117 (37.6%) … (0 comments)
What is a short sale? A short sale is a transaction where the seller is attempting to sell their home for less than what they owe on it.Why would a bank forgive tens of thousands of dollars on a loan? Because often the costs of unloading the asset short are less than the costs of foreclosing on it.Can anybody sell a home short? No. In fact, many homes advertised as short sales ultimately are not approved as short sales. The seller usually must … (3 comments)
Author Bio: After many years of working in the sales business, I have chosen to dedicate my career to the real estate industry. In more casual terms, I have decided to build my business around helping people fulfill their dreams of home ownership with a very personal touch. Unlike many in this industry who "got their license to play around in real estate", I am committed to giving 100% to each and every customer. Buying or selling your home is a complicated process that requires the knowledge, skills and effort that a part time agent cannot provide. Whether you are buying your first home, moving up because of a growing family, relocating due to a job transfer, seeking that dream estate on the golf course or downsizing in the golden years, I believe it is my obligation to treat everyone with honor and respect and with the highest degree of service and professionalism. Feel free to call me to discuss your real estate needs. I promise that I will take good care of you.
Five Key Things that Happened in Real Estate in 2012...
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