Archive for the 'Homeowners' Category
SELLERS HAVE A CHOICE WHEN IT COMES TO ALL CASH BUYERS
Posted by Ana Gramling | Leave A Comment »
![MCj04326590000[1]](http://pictureperfectsandiego.com/files/2009/12/MCj0432659000012.png)
In this real estate environment where it is thought that the all cash buyers are “KING”…know that sellers DO have a choice. I have had the opportunity to work with sellers who consciously made the decision NOT to choose an all cash buyer based on the fact that they were once given an opportunity to buy a home, when they truly thought it would be impossible, and wholeheartedly knew the responsibility to “pay it forward”.
I’d like to share an incident which stemmed from a phone call from a potential buyer…let’s call him “Mark” (who was not represented by a Realtor®), who, through his own dedicated search of the internet; saw one of my new listings. 
I will say it was a listing that I knew was going to generate a LOT of interest and was a sure bet for an all-cash buying opportunity. Mark expressed his disappointment in previously having made over a dozen offers to purchase homes that had been mostly awarded to all cash buyers. Some properties he made offers on got into a “bidding war” between all cash buyers; and, he knew he would not have a snowball’s chance (do you like the holiday pun?) in being awarded the purchase. Mark continued to express his concern that most all cash buyers are investors and, truth be told, they would hurt the owner vs. tenant occupancy ratios of most communities, and they would make it more difficult for the future conventional buyer to obtain a loan due to lender requirements.
I know Mark’s situation will resonate with many conventional buyers, not to mention their Realtors®. In reality, all that the conventional buyer desires is to be afforded the opportunity to enjoy homeownership and “owner occupy” the home they purchase. Today’s conventional buyer already faces the tremendous obstacle of limited inventory, stricter lender requirements, inferior product due to deferred maintenance in short sale/foreclosure properties and a tough economy. Don’t get me wrong, I appreciate the all cash buyer! My point is simple; there is room in our real estate market for the variety in our pool of buyers.
So, is there an answer to Mark’s dilemma??? Probably not!!! What I know is th
at I have another seller who likewise is paying it forward. They too awarded a sale to a conventional buyer who is actually a first time homebuyer who is expecting their first child. I can’t think of a better holiday present than to have the opportunity to buy a home to raise their family in and start many new treasured memories and traditions. I know this may sound too good to be true! Don’t believe me? Call me at (858) 688-3363 or EMAIL ME and I’ll be happy to tell you all the facts in greater detail!!!
By the way, Mark has elected to take a break from the stress of trying to buy a home in this marketplace and is currently renting.
Related Posts: Agent Services, Buyers, Find A Home, Foreclosures, Homeowners, homes for sale, San Diego, Sellers, Short Sales
FHA Purchase: After 90 Days But Before 180 Days
Posted by Kevin Kueneke | Leave A Comment »
We have discussed FHA’s 90-day “anti-flip” policy a lot these days. Basically, a buyer will be unable to obtain FHA insured financing if the subject property has been owned by the seller for less than 90 days, with some exceptions.
But did you know that FHA is still concerned from day 91 to day 180? If the new purchase price is 100% or more than the price paid by the seller and the seller purchased the property within the past 91 to 180 days, the lender will be required to obtain a second appraisal by another appraiser.
Even though this rule has been in effect since June of 2006, it has only recently been an issue due to all of the properties purchased on the court house steps.
Even if the seller can provide documentation showing the costs and extent of rehabilitation that went into the property resulting in the increased value, a second appraisal will still be required. Also, the cost of the second appraisal may not be charged to the home buyer.
Bottom line: check the transaction/price history. A second appraisal could add additional time to your escrow, unless you plan accordingly.
Should you have questions regarding this article or any other mortgage related topic, please call me at (760) 500-1919 or email me: [email protected]
Related Posts: Buyers, CW Mortgage, Home Loans, Homeowners, Mortgage News
Treasury sets Guidance to Simplify “Short Sales”
Posted by Brian Olenik | Currently 1 Comment »
Here is an important article that I wanted to share with everyone. If you would like more information, please don’t hesitate to contact me. My contact and article source information below.
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NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed “short sales” of homes and other loan modification alternatives to stem a rising tide of foreclosures.
The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury’s website.
Guidelines address barriers that have often sidelined short sales by setting limits on the time it takes a bank to approve an offer, freeing borrowers from debt and capping claims of subordinate lenders.
The incentives, first announced in May, expand on the government’s Home Affordable Modification Program, known as HAMP, that has seen limited success in lowering payments for distressed homeowners. The Treasury earlier on Monday stepped up pressure on mortgage companies to make permanent the 650,000 trial modifications they have started.
Related Posts: Escrow, Financial news, Home Loans, Homeowners, Real Estate News, San Diego, Short Sales
The Cole Group Has Two New Listings
Posted by Jeff Cole | Leave A Comment »
Views! Privacy and like new construction with cul-de-sac location in picturesque San Elijo Hills. This home has a bedroom, bathroom and office on the main floor along with the formal dining room and family room with cozy fireplace off the kitchen that has soaring 20 foot ceilings. This kitchen also has a breakfast nook, double ovens, large island and recessed lighting. Upstairs the master bedroom with bath includes spa tub, dual sinks and walk in closet. Some other features include a security system, dual zone central air conditioning, upstairs laundry room, elegant archways, French patio doors, courtyard and new drought resistant landscaping.
Enjoy the wonderful amenities in the community town center with shopping and dining, brand new schools, and a park with ball fields and play structures. For more information on this property visit our website at www.JeffColeGroup.com or to view the virtual tour: http://www.previewfirst.com/vt/25168
Shadowridge-One of the largest lots in the neighborhood, located at the end of a cul-de-sac. Tons of light! First floor has it all-laundry room, half bath, large great room with formal dining area and living room, open kitchen with breakfast nook, and a cozy fireplace in the family room that has sliding glass doors out to the private backyard. Kitchen has newer cabinets and granite counter tops. Master bedroom has vaulted ceilings. Master bath has dual sink vanity and separate soaking tub. Easy access to freeway and shopping.
In today’s complex real estate market, you need a leader like Jeff Cole. As #1 Agent in sales volume for Exclusive Properties in San Diego County with more than $40 million in sales over the past two years, he know how to navigate these uncertain times. Visit us at www.JeffColeGroup.com
Related Posts: Buyers, Find A Home, Homeowners, homes for sale
Homeowners Insurance Just Got Easier By Premier Insurance Services
Posted by Jason Dobson | Leave A Comment »
Buying a home can take a lot of time and energy – obtaining homeowners insurance should not. Now when you purchase a home with Exclusive Properties, you can get homeowners insurance through Premier Insurance Services, Inc. It’s easy and simple, convenient, and affordable. We will help ensure you have the insurance that’s required by lenders to close on your loan. 
Simple, convenient, affordable insurance – Save up to 25%.
Premier Insurance Services Inc. recognizes multiple policy discounts. Depending on your home, situation and property type, you may be eligible for a variety of discounts. Discounts up to 25% will be applied to homeowners and automobile policy premiums when you package both policies with Premier Insurance Services, Inc.
Ask to speak to an auto specialist and save.
In just one call, a licensed insurance representative from Premier Insurance Services will discuss your needs and let you know the coverage options available. It’s insurance made quick and easy – just another way Exclusive Properties, through a special relationship, offers to help customers like you.
Get a free quote today.
You enjoy added convenience by obtaining homeowners insurance through Premier Insurance Services. For a free homeowners quote, call us at 888.507-8683, Monday through Friday, or e-mail us at [email protected]. When you contact us, please provide our friendly agent with your escrow number, or just your name!
You can also go online 24/7 and get a free quote easily and in minutes. Your information will be rated through over 30 different companies offering great rates and quality service. Visit www.jblpremier.com anytime. Representatives are available until 9pm!
Related Posts: Homeowners, Insurance Services
