The US Department of Housing and Urban Development , or HUD, is becoming more of a player in the housing market. How does the US government end up with homes to sell, you ask? The answer is: from homes that have been financed with FHA loans. With FHA- backed loans, the government insures the lender against default by the borrower. When a homeowner defaults on an FHA loan, the lender is paid off and the home becomes the property of the government. HUD has the responsibility to sell the home on the open market. You can see the extent of the HUD homes for sale by visiting www.HUDHomeStore.com. [Read more...]
“HUD” Homes For Sale!
January 26, 2011 By 1 Comment
Short Sale-Forclosure Rules for 2011
January 10, 2011 By 1 Comment
The new year brings significant changes in California on how a short sale or a foreclosure affects homeowners! California Senate Bill 931, which went into effect on January 1 2011, restricts the circumstances which lenders can pursue deficiency judgements against the borrower. First deed of trust lenders can no longer pursue deficiency judgements after a short sale of 1-to-4 residential properties. This is a big change! Previously, the mortgage had to be “purchase money” and the home had to be owner-occupied in order to qualify for this exclusion. [Read more...]
Ten Things You Should Know About Your Property Taxes
December 15, 2010 By Leave a Comment
Many people, including some real estate professionals have misconceptions about their property taxes. To help you better understand property tax laws in California, here are ten things that every property owner should know property taxes.
- Real property can only be reassessed if there has been a change in ownership, new construction or a decline in value. [Read more...]
Preparing your Home for Sale
November 28, 2010 By Leave a Comment
“You never get a second chance to make a good first impression”
A potential buyer’s first impression of your home is critical for their decision to consider it further. Key areas to consider when preparing your home for sale include…
Curb Appeal — The outside of your house can be the source of a very good first impression. Keep the lawn mowed. Have your trees and bushes trimmed. Cut back overgrowth. Plant some blooming flowers. Consider having at least the front door, front of your house, and the trim painted. [Read more...]
Using Renovation Financing to Get the Home You Want
November 9, 2010 By Leave a Comment
Many of the homes for sale in today’s market we can realistically call “distressed” homes. With all the bank foreclosures and short sales, people are just not taking care of their homes. While prices may be low, most first-time home buyers are stretching to buy a home and there just isn’t enough left over for taking care of deferred maintenance items, making repairs, or updating the home. This is where a little-known loan program, the FHA 203(k) loan program comes in. [Read more...]
Thinking “Outside the Car”
November 2, 2010 By Leave a Comment
Pedal to Properties puts a new spin on real estate…a new franchise offering in the real estate business provides an innovative and “green” alternative to the traditional real estate office. With offices in the bicycle-friendly communities of Boulder CO, Northampton MA and Sonoma CA, Pedal to Properties provides bike tours of properties for sale to prospective buyers. [Read more...]
The Great Recession
October 27, 2010 By Leave a Comment
According to the Pew Research Center, since the “Great Recession” began more than 30 months ago, more than half of the adults in the US labor force have experienced a work related hardship! This may have taken the form of unemployment, a cut in pay, a reduction in hours or an involuntary move to part-time work. [Read more...]
It Seems that All My Transactions Are Short Sales…
October 20, 2010 By Leave a Comment
Looking back over the last six months two thirds of my real estate sales have been short sales! As of today, in the Metrolist Multiple Listing Service (which services the Sacramento metro area), 50% of all homes on the market are listed as short sales! [Read more...]
Using a Reverse Mortgage to Purchase a Home
October 13, 2010 By Leave a Comment
The decline in home values has caught many senior homeowners off guard. Much of the equity that they had been planning on as part of their retirement financial strategy has evaporated. What can they do? Here is a all-to -common scenario: [Read more...]
Why I Work by Referral
October 6, 2010 By Leave a Comment
Relationships Are More Important Than Transactions
You may have noticed that many real estate agents take a transactional approach to sales—identifying clients, closing the deal, and then moving on to the next one. I choose not to work that way because I believe you deserve more from the professional you decide to work with. That is why I work by referral. [Read more...]
