Real Estate


Click the link here to read about how Buyers are moving to bike friendly areas!

This is just great that people are now looking at areas that are more bicycle friendly for work purposes so they can commute!

Enjoy your ride!

This article is courtesy of The Washington Post.com web site

People always ask me, “Is it a good time to sell during the holidays?”

ABSOLUTELY is my immediate response. Being a realtor for 10 years now I can tell you that anyone that is  buying (or selling) during the holidays is serious. They are motivated and it is a win win for all. As far as sellers, your home never looked better. All decorated for the holidays both inside and out. People enjoy this time of year and the mood is a happy one. There is less competition for both buyers and sellers as well.

An experienced Realtor will take advantage of this opportunity and do the best marketing with all the decorations and people driving by looking for houses with lights. Having an open house would be a great idea as well. While the holiday season can be the roughest on you and your family, the sale of your home would be great!

Rain or shine, the buyers and sellers that are focused out  there and are ready to close on a home during the holidays, are worth their weight in gold.

Here is our very own Californa Association of Realtors Chief Economist, Leslie Appleton-Young speaking about the current market conditions. Enjoy…

I had an interesting conversation with a client today – They  asked if it was possible to sell their home and by a short sale. Of course I said yes but…that is not a problem as long as your home is listed and the home is priced right. Better yet the lenders would want you to be in escrow.

The best case scenario to any seller is that they want you to be non contingent and ready to go. With the short sales and REO’s the banks don’t want to wait once they have excepted your offer they want to close ASAP.

I have a listing in Valencia, Bridgeport tract and we just reduced the price by $50K !! Yep that’s right. Do you know anyone that might be interested? If so have them contact me asap.

click here to see video tour and information

 

House in Bridgeport for sale

 

Here is a snippet from an email I received from a loan officer that I know on 11/3/10 right after the information hit the fan. Take it as you may…

Michael,

The fed kept interest rate the same.  However they unveiled a new stimulus package that will allow for 600 billion in government bonds.  They said they would purchase 75 billion a month into the middle of next year.  This will lower costs for consumers in the short term in order to spur the economy.  Mortgage backed securities are under selling pressure because of the announcement at the moment.  That means higher interest rates.

If you know of anyone who needs to refinance please have them contact me immediately.  These rates won’t be around forever and the further the FED goes into bonds and not MBS’s the higher the rates will go.

So you want to get another home after you foreclose. I understand we all want to have a home and why not own it. That’s the american dream. Well here are some ways you can do that. Of course it is not going to be easy and will take some time.

  1. Get a job and stay there. If you have one stay where you are. Lenders are looking for stability.
  2. Save money. oh yes easier said then done, belive you me. They want to see at least 6 months of reserves in case “something happens” they want you to be able to survive.
  3. Get that credit score back up. This is very hard since you might have had your cards taken away or closed on you. Also no one wants to give you a card because you are a risk. This takes time so be patient. You can do this. Baby steps.
  4. Seven years is the norm for lenders to have you back in the mortgage game. Fannie Mae has loosened up a bit and is  now giving people a chance after three years if they have a great story to tell and can show improvement in those three years. Rules change all the time so keep up to date and check frequently.

That’s it. Not rocket science by any means. Just make a plan and do it.

If you need someone to speak to about this I have a few professionals in my black book that are very good that I can recommend you to.

Contact me if you need me…

 

Get back in the game!

 

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