California Foreclosure activity has risen in the first quarter of 2010. California, thus, maintains its status as the nation’s foreclosure leader for the 16th consecutive quarter. There had been a 17% decline in the number of foreclosures in the third and fourth quarters of 2009, but the numbers began moving up again in the first quarter of 2010.
Are we headed for a new real estate decline? The rise in foreclosures coupled with the end of the first-time homeowners tax credit may see a waning demand for homes. This could lead to another softening of prices.
There is a lot of confusion between HAMPand HAFA. HAMP is the Home Affordable Modification Plan and HAMP is the Home Affordable Foreclosure Alternative program. Under one program (HAMP) you are trying to get a loan modification on your loan/s. Under the other program (HAFA) you are trying to find an alternative to a foreclosure by selling your home using the short sale process or giving your property back to the bank using a Deed in Lieu of foreclosure.
If you qualify under HAFA to sell your home and your lender is identified as subscribing to the HAFA program, you, as the borrower will be fully released from all liability for repayment of the loan.
Because, in any case, there could be significant tax and credit issues, it is always best to check with your attorney and tax advisor as to your personal situation.
I have just finished passing all of the requirements to become a CDPE (Certified Distressed Property Expert).I am very excited about this, as it will allow me to make a real difference in the lives of so many homeowners.
When faced with a financial hardship, many families reach the point where they can no longer afford their mortgage payments and have fallen behind or are just a payment or two away from falling behind in their payments. This is a very scary place to be. While this situation is an economic one, it is even more an emotional one. We see responses from out there from out and out panic to people who feel completely helpless to those who pretend it isn’t happening. People in this situation are under incredible stress as they see their whole world crashing down around them. Most people just don’t know what to do. They’ve seen ads for help (usually requiring some sort of payment), they’ve heard nightmare stories about short sales and many have tried one of the loan modification programs available and have not qualified. This is not a process to undertake without aligning ones self with an expert.
Most agents want very much to help, but wanting to help and having the educational background to do so are a world apart. You need a CDPE, (an agent or broker who has the knowledge, the insider track, has intimate knowledge of the data required by the lenders and knows how to accelerate your file when time issues arise). You wouldn’t think of having a friend who loves numbers do your taxes or a non-surgeon perform heart surgery. You need a professional who understands the process and can walk you through it. You need a CDPE. A one-hour, no-obligation free consultation is yours for the asking.
Not all sellers will qualify. There is a qualification questionnaire that will help us determine, if we can be of help. Call us today. 949-682-5416. Time is not your friend, but we are.
I wanted to have a little fun today, so I created a short video with a homemade jingle. Pretty corny, but I had a lot of fun doing it. Hope it puts a “wee” smile on your face.
5 reasons why electronic lockboxes make sense in today’s market:
1. An electronic lockbox system provides an essential part of the marketing strategy to gain feedback and generate showings into offers.
2. Secure controlled access management of property keys. Agents no longer have to worry about who has access to listing keys. Electronic lockboxes strictly limit access to other agents or approved visitors who have gotten a lockbox key/card from the local Association or Board of Realtors. The keys/cards require a code or PIN be entered by the owner in order to access the lockbox.
3. It’s no longer necessary to drive around town to real estate offices picking up and dropping off keys to properties. That time can be better invested gaining more “face time” with clients–or potential clients. With easy access to the keys, you don’t have to arrange time to pick up the keys, or wait for the listing agent to be available to let you into the property. Fewer showings will occur while waiting for the availability of the keys. Having the keys readily accessible at the property saves time for all involved parties.
4. Showing notifications and automated feedback for each property access. The great thing about electronic lockboxes is that they have the ability to record and hold data and every single access is recorded. Not only that, but some systems allow for notifications to be sent to notify the listing agent of an access to their lockbox. Add in the ability of some systems to automatically send an email asking for feedback, and you have a very powerful system working for you.
5. Detailed access reporting. In today’s market, sellers are becoming more intimately involved with the selling process of their home. In addition to having the ability to record entries, electronic lockbox systems also allow for detailed access reporting to clients. You can now give a client data showing how often their house is being shown.
Thanks to our friends at Ris Media for great information.
Named 2009 "Realtor of the Year", Barbara Amstadter is a name well recognized in the local community. She served as a co-founder of the "Committee of 4000", representing the owners of 4000 leasehold parcels in a legal fight for "leaseholder" rights. She helped negotiate the final monetary settlement, the largest in US history at the time. Continue reading...
Susi brings extensive backgrounds in escrow and new home sales to the 22 year successful partnership of Barbara and Susi. She is, also, a recipient of the 15 year "Legend" award (bestowed on only 3 agents out of 66,000 worldwide at the time). Susi and Barbara have been ranked in the top 1% of realtors internationally year in and year out. Continue Reading...
