Archive for the 'Foreclosures' Category
Beware of Distress Sale Dangers
Posted by Rachel LaMar, J.D. | Leave A Comment »
Are you facing a foreclosure or thinking about short selling your home? If so, there are several things about which you NEED to be aware before making any decisions. To learn more please visit http://www.rachellamarrealestate.com/blog/?p=554.
Related Posts: Foreclosures, Short Sales, foreclosure options, rachel lamar
Open House This Weekend! Just Reduced! In Beautiful La Costa Greens-The Jeff Cole Group
Posted by Jeff Cole | Leave A Comment »
Located in beautiful La Costa Greens, this 4br, 4.5 bath 2 story home is situated on a corner lot. Complete with 2 fireplaces, granite counter tops and stainless steel appliances in the kitchen. The laundry room located on the first floor for convienence, there is a loft, 3 car garage and low maintenance backyard with built-in BBQ.
The Presidio is a private residents’ club that features an expansive clubhouse, a fully equipped fitness facility,swimming pool, tennis courts,footpaths and bike trails.
Open House this Friday 3-6pm, Saturday 12-3pm and Sunday 1-4pm
Related Posts: Activities & Events, Carlsbad, Find A Home, Foreclosures, La Costa, homes for sale
New Help For Those Seeking Loan Modifications
Posted by Rachel LaMar, J.D. | Leave A Comment »
Facing foreclosure? Unable to make mortgage payments? Have you tried to get a modification and don’t know how to go about it on your own? There may be free assistance available to you.
Fannie Mae and Freddie Mac recently announced two new options to help delinquent homeowners with loan modification issues. To learn more about these options please visit my newest blog at http://www.RachelLaMarRealEstate.com/blog/?p=453.
Related Posts: Foreclosure Avoidance, Foreclosures, Homeowners, San Diego, foreclosure options, foreclosure prevention, rachel lamar
Quick Tips on Short Sales and YOUR Credit
Posted by Brian Olenik | Leave A Comment »
SHORT SALES & YOUR CREDIT
One of the most frequent questions that homeowners want
to know is what happens to their credit score as the result of
a short-sale. Here are a few points to remember.
.
1) When you negotiate a short-sale, the homeowners may
still owe the difference between the mortgage balance
and the discounted sales price. This amount can still be
collected via a “Deficiency Judgment.” If granted, this
judgement may adversely affect the homeowners and
their credit report (not unlike other judgments).
.
2) The best way to avoid the deficiency judgment is to ask
pursuit of any deficiency judgment.”
.
3) Remember that the difference between the mortgage
balance and the short sale may be declared as income on
their tax return by means of a “1099.”
In dealing with any short sale, the homeowner should always
speak with their accountant and/or attorney to see how this
sale will affect them.
Brian Olenik
858-776-7683
brian.olenik@corinthiantitle.com
Related Posts: Buyers, Contracts & Negotiations, Financial news, Foreclosures, Picture Perfect San Diego, Real Estate News, San Diego, Short Sales, Windermere, WindermereSanDiego.com, foreclosure options
San Diego Housing Market Trends – Get the Facts
Posted by Diane White | Leave A Comment »
San Diego’s housing market has been discussed repeatedly recently and with mixed data, forecasts and opinions.
On January 20th, the headline was “County Leads Region in Home-Price Gain.
Some of the points covered were:
- San Diego County had a 10% increase in December over 2008.
- Coastal counties typically fare better due to living preference and lack of new development.
- 35.8% of resales in December were foreclosures, up from 32.6% in Novemeber.
On January 25th the headline was “Housing Data Show County’s Ups, Downs”. On January 26th it was “Local Home Prices on the Upswing”.
Some of the points covered were:
- Starter-home market at $350,000 has stabilized and appears to be rising while inventory has decreased.
- Higher-priced properties are still eroding. (Note; not in all areas)
- San Diego prices were up for the seventh straight month.
On January 27th the headline was “Housing Prices Buck Trend”.
Click for Index
Some of the highlghts are:
- San Diego was one of only four areas nationally to see an upturn beginning late last year.
- Home prices here were up 56.1 percent from 2000.
- Even if prices dip a bit over the next few months, buyers should be aware that any interest rate hike will wipe out marginal drop in prices.
And finally on January 28th, the header was “San Diego Area Foreclosures Jump; Defaults Slump” . Observations noted include:
- Analysts see this as a stabilizing market:
- Foreclosures pave the way for purchases by financially strong buyers.
- Fewer defaults mean either a decline in distressed owners or more loan modifying.
- Banks are not moving quickly to list properties for sale – possibly hoping prices will rise.
Overall the consensus is the housing market is stabilizing. With interest rates so very low, prices still lower than they were and the tax credit that was extended to April 30th, it is a great opportunity for buyers. And with low inventory and multiple offers, it may be the right time to sell!
Click to read more of my articles.
Related Posts: Area Information, Area Statistics, Buyers, Financial news, Foreclosures, Market Trends, Real Estate News, San Diego, Sellers, tax credit
