March 2009 
There are 5 blog entries for March 2009.
Short Sale Problem
Friday, March 27th, 2009 at 3:33am. 383 Views, 1 Comments.
Everything seemed to be going well with the short sale - the first mortgagor had approved of the purchase price and negotiations with the second mortgagor seemed to be moving along. Yet, somewhere in the process, the second mortgagor sold off the debt for pennies (?) on the dollar. The new note holder had to be found and negotiated with, and they wanted more money than was previously being negotiated - a lot more.
Throw into the mix that the second mortgage was a HELOC (Home Equity Line Of Credit). The new owner of that note figures that if they don't get the money they require, they will hold the homeowner personally responsible for the debt.
The buyers of the short sale have been waiting patiently for months. Will the sale go through? Or,…
923 Chestnut, Brea. 3 bed 2 bath house.
Thursday, March 12th, 2009 at 8:46am. 337 Views, 0 Comments.
923 Chestnut, Brea
SOLD
3 bedroom 2 bathroom home in Brea. Remodeled Kitchen with newer appliance. Newer windows. Exterior painted in 2005. Large 9,500+ square foot lot w/storage shed and room for RV or boat. Backyard has lots of room for play! Near golf course, walk to new downtown Brea shopping. 9500+ sq ft lot. Only $480,000
See all of Brea homes for sale.
In Foreclosure Process : Does this mean the home will soon be an REO?
Wednesday, March 11th, 2009 at 7:39am. 288 Views, 0 Comments.
"In Foreclosure Process, Notice of Default, Short Sale/Subj to Lender Approval"
The part that sticks out to me is that is says "In Foreclosure Process"... Does this mean it will soon be foreclosed and be listed as an REO and no longer a short sale? And what does the "Notice of Default" mean???
So let's assume that the homeowner is in default on the loan and a Notice of Default…
What's the difference between 'contingent', 'in escrow', 'accepting backup offers'?
Wednesday, March 11th, 2009 at 7:22am. 1347 Views, 0 Comments.
How come this website has a home listed as In Escrow, while another has it listed as Contingent, and another as Accepting Backup Offers???
Contingent, in escrow, and accepting backup offers, all really mean that the home is in escrow..
When an offer gets accepted, the agent will change the status on the MLS to 'back up'. That lets the other agents know that an offer has been accepted, but they can still show the home to clients. If they wanted to write an offer, it would be as a 'back up' offer in case the escrow with the first offer did not work out.
Once a buyer removes all of their contingencies, the agent will (should) change the status on the MLS to 'pending'..
Most buyers that I know do not write backup offers, and many agents do not show those…
ListingBook
Thursday, March 5th, 2009 at 6:45am. 270 Views, 0 Comments.
Listingbook is a program that will give you access to the same database that we use in the real estate business, and you can access it 24/7 from any computer. It will provide you with up-to-the-minute data on all the properties that are on the market that matter to you.
Your account is free and loaded with powerful and helpful tools you will not find in any other service. It is extremely easy to use.
With Listingbook you can easily:
• Find any home in the Multiple Listing Service- just like I do!
• Make an informed decision and find your dream home quickly.
• Receive automatic notification of price reductions and new listings.
Let me know if this is something that you would be interested in. Contact Me.