March 2011 - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

5 Common Mistakes the Central Coast FSBO Seller Can Avoid

03/31/2011
Seller Info

If you want to sell your home FSBO and are interested in receiving a comparative market analysis of your home, I can provide this to you. If you are offering a broker co-op, I would also appreciate the opportunity to preview your home. I will gladly provide a comparative market analysis without you having to endure a listing presentation - just let me know up front that you are a FSBO seller.

Short Sale vs. Foreclosure When You Have a HELOC in California

03/29/2011
Short Sale Info

Just walking away may seem like the easiest way out, but it may in fact make things more complicated for you. If you have a HELOC, I do believe a short sale is usually worth the hassle. At the very least, a short sale gives you the opportunity to negotiate with your lender up front - and, foreclosure is always there as an option, but a short sale isn't.

Will the Bank Pay My HOA Dues As a Part of My Short Sale?

03/26/2011
Short Sale Info

Even without a lien, a large amount of unpaid dues can become an issue. And, if the bank won't pay and you as the seller can't pay - it could make your short sale difficult to close. A better solution is to start on your short sale early while not much is owed on HOA dues, keep those dues current, or, at the very least out of collections.

The IRS Filed A Lien on My Home, Can I Still Do A Short Sale?

03/23/2011
Short Sale Info

Has the IRS field a lien on your home for back taxes? Are you wondering whether you still can do a short sale with the IRS lien filed on your property? The answer of course depends on your individual situation. But, generally the IRS will remove its lien on your property where it can be shown that the lien has no value. If your property is worth less than the liens that are superior to the IRS lien, then the IRS lien probably has no value.

How Does the Bank Determine the Value of My Home in a Short Sale?

03/20/2011
Short Sale Info

In a short sale, the bank will typically order either a Broker Price Opinion (BPO) or an appraisal to determine the value of the home. Most banks use BPOs. The use of BPOs is the source of much controversy among short sale listing agents, short sale sellers and appraisers. Appraisers often object to BPOs and believe that only an appraiser can give an accurate depiction of value.

Is “Lease to Own” A Scam?

03/19/2011
Buyer Info

Well I told her that it sounded like a scam. Not a major league scam on the part of the people getting $160 for the “database” but there probably was a major league scam somewhere behind it. I explained that quit claim deeds and foreclosures aren’t typically a part of a lease option deal.

How Time Can Run Out On Your Santa Maria Short Sale

03/13/2011
Short Sale Info

One of the worst things that distressed Central Coast homeowners do is waiting until the clock is ticking before contacting a short sale agent. When does the clock start ticking? I tell people it starts ticking when you stop paying. Ideally, if you know a financial hardship is imminent, you should begin exploring your options, including a short sale, before any payments are even missed. In its recent Open Letter on Short Sales, the California Association Realtors reports that according to surveyed California Realtors® only about three out of five short sales close.

What Should I Look for in a Santa Maria CA Lender?

03/13/2011
Buyer Info

I typically recommend local lenders because I find that they are more accountable. Even if a buyer is using a national bank, I find it is better to have a local representative on the file. Nothing is more frustrating than working with some 1-800 number lender who becomes conveniently absent when a deal starts heating up, or timelines get tight on a transaction.