Sacramento CA - In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale. Which means that you are probably upside down on the home. You have three options. Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender. Option #2: Short Sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure. Issue: Can I get a Future Fannie Mae Loan? Foreclosure: The current Fannie Mae Guidelines require you to wait 5-7 years before you can buy another home with a Fannie Mae Loan. Most other banks and lenders have the same or even stricter procedures. Short Sale: If are back on your feet 2 years after the short sale, then Fa... 12/10/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR November 2010   This is a continuation of a three year study of Bank Owned home sales in Folsom, CA.  This report covers REO homes sold in November 2010. There were 15 REO homes sold in November, down from 19 in October.    Lenders continue to release these homes for sale at a very slow pace in order to avoid causing major problems in the housing market. A glut of low priced homes would be catastrophic to an already shaky market. The average days-on-market statistic for the month was 46, down sharply from 78 the previous month. Only one of the homes sold had been on the market over 100 days.  Five, or one third of the REO homes sold, had been on the market for two weeks or less.           The 15 REO homes sold represent 28% of all homes sold in... 12/09/2010

Sacramento CA - We had a short sale recently with a certain loan servicing company. The funny thing was that this loan servicer was hired by the owner of the loan to work on behalf of them. In other words, the loan servicer was to look out for the loan owner's best interest. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Processing and approving a short sale will usually avoid future losses on a mortgage. Boston Consulting Group recently did a study on the difference between a short sale and foreclosure. They found that a short sale dramatically reduces future losses when compared to a foreclosure. Here is a real life example: One lender rejected a 385k short sale offer. The home was foreclosed upon and put up for sale. It sold for $230,0... 11/30/2010

Sacramento CA - I am following up on a question from Arman. His loan was owned by Fannie Mae and the company handling the loan for Fannie Mae was rejecting an excellent short sale offer for no reason. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. When you get in front of a jury and show how this company’s negligence caused Fannie Mae to lose $15,000 (what I project they will lose) and that it hurt him as well, the jury will award damages in a heartbeat. Here are some of the damages a foreclosed homeowner might be able to ask for. Credit Damage. A foreclosure is much more damaging long term to your credit than a short sale. For the next 7 years they will have to answer yes to the standard question that is on most credit applications: "Ha... 11/25/2010

Sacramento CA - I am following up on a question from Arman. His loan was owned by Fannie Mae and the company handling the loan for Fannie Mae was rejecting an excellent short sale offer for no reason. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here is a quick recap of what I recommended Arman do. Step #1: Call up IBM and demand a written letter explaining why they are declining the short sale offer. Step #2: Write down what you project your damages are going to be if the property is foreclosed upon instead of sold as a short sale. Step #3: Call up the company handling the loan for Fannie Mae and tell them if they reject the short sale for no reason and the house is foreclosed, then you will be suing them for those specific damages yo... 11/23/2010

Looking for a HUD owned home in Folsom? Here is our newest HUD home for sale! This home is located in Folsom and just came on the market! Good location 3 bed with 1.5 bath on a nice lot, wood floors, open kitchen, large family room, patio in back yard with shed and hot tub, HUD Owned Sold AS-IS 182 Price Way, Folsom, CA 95630 - $220,0003 bedroom 1 bathroom1089 sqft If you are in the market to buy a HUD Owned home in Folsom... Make sure to give Erin a call at (916) 585-3858 to view this listing or others in the area! Did you know the new list of HUD homes for sale comes out once a week? Sign up for your FREE Sacramento HUD List sent right to your email once a week! If you are in the market to buy a HUD Owned home in Sacramento... Make sure to give Erin a call at (916) 585-3858 to view th... 11/19/2010

Sacramento CA - The Stop Foreclosure Institute recently received a question from James. “My loan was just sold. I was making payments to CitiFinancial and they sold it to Nationstar. Is that good or bad?” James asked. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. Here is the answer. It’s neither good nor bad. In fact, I don’t think your loan was sold. You see, most loans were packaged up and sold to Fannie Mae, Freddie Mac, or Wall Street. James’s loan was more than likely packaged up and sold off. I asked him who his original lender was. He said it was a company called First Magnus. (First Magnus declared bankruptcy in 2007 and was afterwards closed.) The Stop Foreclosure Institute has negotiated short sales on loans that we... 11/17/2010

Sacramento CA - I'm sure you have heard about forensic loan audits. I've heard people say how wonderful they are. "Your lender will approve your short sale right away", claims one. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. An agent told me a story about forensic loan audits. He worked with a woman who was trying to short sales 3 houses. He knew they were short sales and was glad to list them for sale. There was a guy involved who was supposed to be doing all the "negotiating" with the lender. Little did this agent know this guy was trying to flip the houses. This guy had a forensic loan audit done. He claims he paid foreclosure defense lawyers out of his own pocket. He did all this stuff in an attempt to force the lender ... 11/16/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR October 2010   This is a continuation of a three year study of Bank Owned home sale in Folsom, CA.  This report covers REO homes sold in October 2010. There were 19 REO homes sold in October, up from 11 in September.    Lenders continue to release these homes for sale at a very slow pace in order to avoid causing major problems in the housing market. A glut of low priced homes would be catastrophic to an already shaky market. The average days-on-market statistic for the month was 78, up from 73 the previous month.  The trend for the length of time REO homes are on the market is increasing.  Six of the homes sold had been on the market over 100 days.  Only two of the REO homes sold had been on the market for two weeks or less, a much smaller num... 11/15/2010

Sacramento CA - Negotiating short sales is tough. In my opinion, some of the banks are not making good financial decisions. "We won't approve the file without the financials completely filled out," they say. Or, they tell you the numbers won't work when the investor guidelines actually say to approve the short sale. If the agent doesn't know who owns the loan (or their short sale guidelines), then the bank negotiators can lie to them. They don't know any better. Let me give you an example. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. The Stop Foreclosure Institute recently closed a short sale that where the owner of the loan was the Federal National Mortgage Association, also called Fannie Mae. The bank's appraiser said the ... 11/15/2010

Folsom Short Sales: For Sale VS Sold. Folsom Short Sales: Months of Inventory. Inventory need to be about 3.5 months for sellers. Good for buyers. Folsom Short Sales: Days on Market. Thinking about a loan modification? Our Sacramento Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy. Thanks for reading this, John J Hayes. John J Hayes is a Real Estate Agent at RE/MAX Gold. Phone: 530-306-3316. 3hayes@sbcglobal.net. "Hard Work and Dedication" View My homes for sale at www.johnhayesrealestate.com 11/11/2010

Sacramento CA - What do you do when the house won't sell for any more money, but the bank keeps on rejecting the offers? You can give up, but the seller may lose their home to foreclosure. Ouch! Why not escalate the file and get it approved. Here's an example of how it worked for the Stop Foreclosure Institute. Discover how other sellers successfully did a short sale and request a free consultation by clicking here. We had a house on the market for 4 months. We started the price at 200k and slowly brought it down to $169,900. We finally got an offer for $159,000. Since I knew the bank's appraiser's valuation, I knew the offer wouldn't work. The bank's appraiser said the house was worth $195,000. Yes, after we had had the house on the market for 4 months. Because I knew the loan owner's... 11/11/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR September 2010 This is a continuation of a three year study of Bank Owned home sale in Folsom, CA.  This report covers REO homes sold in September 2010. There were 11 REO homes sold in September, down from 12 in August.    Lenders continue to release these homes for sale at a very slow pace in order to avoid causing major problems in the housing market. The average days-on-market statistic for the month was 73, up from 59 the previous month.  Three of the homes sold had been on the market over 100 days.    Only one of the REO homes sold had been on the market for two weeks or less, a smaller number than has been reported in any single month since we started reporting this data.        The 11 homes sold represent 25% of all homes sold in Folsom,... 10/06/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR July 2010 This is a continuation of a three year study of Bank Owned home sales for Folsom, CA.  This report covers REO homes sold in July 2010. There were only 9 REO homes sold in July, the lowest number for some time and a continuation in the trend of reduced number of REO homes sold in Folsom.  That trend paralleled the reduction in the number of REO homes available for sale. The average days-on-market for the month was 54, back within the normal range after a statistical anomaly of 84 days the previous month--due to the sale of one home that had been on the market for 525 days.  There were no homes that sold that had been on the market for over 100 days this month.   In July only two of the bank owned homes sold in two weeks or less, an unu... 09/22/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR August 2010 This is a continuation of a three year study of Bank Owned home sales for Folsom, CA.  This report covers REO homes sold in August 2010. There were 12 REO homes sold in August, up from nine in July.  A small number compared to a year or two ago.  Lenders are releasing these homes for sale at a very slow pace in order to avoid causing major problems in the housing market. The average days-on-market for the month was 59, up slightly from the 54 days reported for the previous month.  Two of the homes sold had been on the market over 100 days and one had been on the market for 259 days.    Despite these few "stale" listings, 42% of the homes that sold this month had been on the market for less than two weeks.  The clean, presentable hom... 09/22/2010

(Slide show has 7 images)We've had a couple hot 100+ degree Greater Sacramento days.  And to quote a line from the Danny De Vito movie, "Throw Mamma From The Train", the evenings have been warm and sultry.  While sitting out on the back lawn last night, watching the moon get fuller, I remembered a tale I heard recently, about Historic Sutter Street, in Old Town Folsom. Earlier this month, I began hearing rumors about Legendary Folsom Tunnels, which were rediscovered and are to be preserved.  The tales surrounding the tunnels which are not simple cave structures, but are actual arched tunnels with rock and brick work, are plentiful - running the gamut from use for running alcohol during prohibition and prostitution.The public may not ever be able to really tour these areas of Historic Ol... 08/26/2010

Folsom, CA REO (BANK OWNED) SALES DATA FOR June 2010 This is a continuation of a three year study of Bank Owned home sales data for Folsom, CA.  This report covers REO homes sold in June 2010. There were 16 REO homes sold in June, one less than sold in May.  The days-on-market increased significantly to 84, up from 45 the previous month.  This increase is due to the fact that one home sold after being on the market for 525 days!  (It was in very rough condition.)  Two others had been on the market well over 100 days.   In June only 19% of the bank owned homes sold in two weeks or less.  This is an unusually small segment of the sold REO homes. The 16 homes sold represent 22% of all homes sold in Folsom, on the low end of the normal range.  There are far fewer Bank Owned homes available ... 08/10/2010

How Do Activerainers Choose Referral Partners - Points, Posts, Personality? And How I Found a Great Folsom Real Estate Agent The idea for this post came from looking at my Activerain rank in the Temecula area, let alone California.  In fact, I am IT and SEO for my husband who is a "recovering attorney" (so am I) as a Marine Corps JAG officer and spent 6 years as a judge for military courts martial (I was military spouse); since 2004, he's been helping people buy and sell real estate (in the high hundreds as of the date of this post) in the Temecula, Murrieta, Oceanside areas as well as the high desert areas of Yucca Valley, Twentynine Palms and Joshua Tree.  QUESTION: At the end of this blog, I'm going to ask you to chime in on how you choose the agent to handle your client referrals.  ... 08/04/2010

John J Hayes RE/MAX Gold REO/Short Sale Specialist Certified Distressed Property Expert 530-306-3316 DRE#01709600 To Search For Homes In Folsom/El Dorado Hills/Sacramento Ca http://www.johnhayesrealestate.com Questions regarding Short Sales...Need to Short Sale Your Home: http://www.sacshortsale.net 08/02/2010

The person who makes a success of living is the one who see his goal steadily and aims for it unswervingly. That is dedication. - Cecil B. DeMille (1881 - 1959) Not many real estate agents are building, growing, and establishing a team for their business right now. Fewer first-time home buyers, a slower buying cycle, and more difficult financing options have made it a difficult road to travel. However, a solid plan can be a game-changer... even in this economy. Bruce LaMaster is a HouseHunt.com exclusive agent in the Sacramento, CA area who has successfully been building and growing his real estate business for some time now. He is adding agents to his team and setting sales goals for everyone. So, how is Bruce doing it? Bruce and his expanding team are using HouseHunt.com to establish ... 07/26/2010