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Thursday, January 31, 2013

The Long and Short of a Short Sale

The definition of a short sale is when an investor accepts a lower payoff than what is owed on a mortgage.  It is one of the last workout options available to a distressed homeowner before foreclosure.  During a short sale, your lender is the negotiator between the homeowner and the investor, i.e.: Fannie Mae.  Many loans have multiple investors and often times homeowners have multiple loans that must be satisfied.  After several years of short sales being the norm, lenders have become more efficient at processing them.  Systems, resources and processes have been improved to accommodate a shorter overall time frame.

The most important component for a homeowner who is behind on their payments is to pay attention to late notices.  Deciding to short sell long before foreclosure proceedings is key to the successful closure of a short sale and minimizing the impact to one's credit.  In the past, some lenders would forgo foreclosure proceedings if a house had an offer, but now things are changing.  For example, according to Bank of America:

"As of Jan. 15, 2013, there will no longer be a temporary foreclosure hold during the Cooperative Short Sale property marketing phase. BofA may begin or continue the foreclosure process until a submitted offer to purchase the property is approved by all relevant parties. Any existing short sale will not be impacted by the change"
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Bank of America is one of the better banks to deal with when it comes to negotiating a short sale.  They have a process called a Cooperative Short Sale that can be implemented for some homeowners that enables the steps in the transaction to be handled simultaneously, which in turn significantly reduces processing time. 

I've represented clients in this process and in fact was able to negotiate a $16,000.00  incentive for the homeowner in my last short sale transaction.  I'm not saying that I can do that for everyone because each sale, bank, investor and situation is unique, but I do have a proven track record of getting the job done.

Please contact me if you or anyone you know is interested in learning more.

Thursday, January 17, 2013

There may be money available for you under the National Mortgage Settlement

If your loan was owned or serviced by any of the settling banks - BofA, Wells Fargo, Chase, Citi, or Ally - and your home was foreclosed upon between January 1, 2008 and December 31, 2011, you may be eligible to receive a cash payment as part of the settlement. A settlement administrator has been appointed to accept claims and to oversee the distribution of settlement payments.

Claim forms must be submitted by no later than January 18, 2013.

The easiest and fastest way to submit your claim is online.
Go to: https://nationalmortgagesettlementclaim.com/ and follow the instructions.

Information about the settlement administrator is also available at: www.nationalmortgagesettlement.com. The e-mail address for the administrator is administrator@nationalmortgagesettlement.com The administrator can also be called toll-free at 1-866-430-8358.

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In addition, a separate Program had been lauched previously creating a Independent Foreclosure Review for those who may have been foreclosed between 2009-2010. However, the processing has been a nightmare. Last week, a Settlement was reached whereby the settling lenders agreed to pay $8.5 Billion to a fund and the Foreclosure Review was shut down. Within the next few weeks, a process will be set-up to submit claims. Watch your mail box for more. You can learn more at: http://www.federalreserve.gov/newsevents/press/bcreg/20130107a.htm

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None of the above Settlement programs bars a foreclosed party from asserting separate damage claims against their lender, assuming they have the financial capacity to do so. A few Class Action lawsuits have been set up around the country although they, like individual lawsuits, appear to be bogged down in the Courts.

Wednesday, January 16, 2013

December 2012 Home Sales - Shingle Springs/Cameron Park/Rescue

2575 Meadow Ln #8 Cameron Park, CA 95682-8985  $   82,000.00
3110 Cambridge Rd #1C Cameron Park, CA 95682-9196  $   97,000.00
3415 Bristol Ct Cameron Park, CA 95682-7814  $ 170,000.00
3617 Wild Turkey Dr Shingle Springs, CA 95682-8027  $ 175,000.00
3321 Rolls Dr Cameron Park, CA 95682-9244  $ 218,500.00
2716 Sterling Way Cameron Park, CA 95682-9239  $ 225,000.00
3312 Pomo Ct Cameron Park, CA 95682-9245  $ 245,000.00
3226 Bentley Dr Rescue, CA 95672-9428  $ 245,000.00
3741 Los Santos Dr Cameron Park, CA 95682-8645  $ 253,000.00
2942 Cambridge Rd Cameron Park, CA 95682-9176  $ 275,000.00
3055 Royal Dr Cameron Park, CA 95682-9073  $ 280,000.00
3012 Dos Vistas Dr Shingle Springs, CA 95682-8834  $ 284,000.00
5028 Deloris Rd Shingle Springs, CA 95682-8347  $ 296,000.00
4960 Emil Rd Shingle Springs, CA 95682-8397  $ 300,000.00
3160 Boeing Rd Cameron Park, CA 95682-9207  $ 316,500.00
3921 FAIRWAY Dr Cameron Park, CA 95682-8628  $ 325,000.00
3063 Twin Oaks Rd Cameron Park, CA 95682-8517  $ 325,000.00
2133 Carrillo Ct Cameron Park, CA 95682-8965  $ 335,000.00
2909 THRASHER Ct Cameron Park, CA 95682-8122  $ 340,000.00
4728 Castana Dr Cameron Park, CA 95682-4001  $ 345,000.00
3327 TOURMALINE Way Rescue, CA 95672-9492  $ 352,500.00
3024 Moliner Dr Cameron Park, CA 95682-7957  $ 354,000.00
2480 Oakvale Dr Shingle Springs, CA 95682-9412  $ 370,000.00
3062 Pasada Rd Cameron Park, CA 95682-9117  $ 370,000.00
2548 KNOLLWOOD Dr Cameron Park, CA 95682-7719  $ 382,000.00
3549 Lambeth Rescue, CA 95672  $ 382,000.00
3500 Bainbridge Ave Rescue, CA 95672-9699  $ 387,600.00
3601 Sudbury Rd Cameron Park, CA 95682-8209  $ 390,000.00
4461 ROSSLER Rd Placerville, CA 95667-8952  $ 390,000.00
3474 Orinda Cir Cameron Park, CA 95682-8248  $ 390,000.00
3003 Cinsant Dr Cameron Park, CA 95682-7912  $ 420,000.00
3760 Walnut Dr Rescue, CA 95672-9622  $ 425,000.00
3478 Covello Cir Cameron Park, CA 95682-4061  $ 425,000.00
3557 Foxmore Ln Rescue, CA 95672-9367  $ 425,000.00
2340 Deer Valley Rd Rescue, CA 95672-9543  $ 430,000.00
3515 Foxmore Ln Rescue, CA 95672-9367  $ 435,000.00
2213 KIOWA Way Shingle Springs, CA 95682  $ 480,000.00
2820 Sierra Vista Rd Rescue, CA 95672-9353  $ 499,000.00
3635 LOMA Dr Shingle Springs, CA 95682-8794  $ 615,000.00
3041 FALLEN LEAF Rd Cameron Park, CA 95682-9612  $ 625,000.00
5650 Pyracantha Dr Shingle Springs, CA 95682-5138  $ 700,000.00
2970 Strolling Hills Rd Cameron Park, CA 95682-9693  $ 925,000.00

December 2012 Home Sales - Folsom, CA

170 Pierpoint Cir Folsom, CA 95630-1767  $ 140,250.00
600 Moon Cir #624 Folsom, CA 95630-4127  $ 151,000.00
102 Coralie Way Folsom, CA 95630-3303  $ 159,000.00
1505 Rivage Cir #1505 Folsom, CA 95630-5608  $ 174,000.00
200 Moon Cir #228 Folsom, CA 95630-4114  $ 175,000.00
104 Grenoble Way Folsom, CA 95630-3305  $ 178,000.00
304 Esplanade Cir #304 Folsom, CA 95630-7353  $ 190,000.00
413 VESSONA Cir #413 Folsom, CA 95630-8720  $ 205,000.00
301 Ferry Cir #101 Folsom, CA 95630-4002  $ 210,000.00
125 Coralie Way Folsom, CA 95630-3302  $ 220,000.00
301 Blossom Rock Ln #53 Folsom, CA 95630-8744  $ 227,000.00
1015 Vessona Cir #1015 Folsom, CA 95630-8726  $ 232,500.00
1443 Kerslake Cir Folsom, CA 95630  $ 255,000.00
202 Red Oak Ct Folsom, CA 95630-7944  $ 257,000.00
2030 Horseshoe Glen Cir Folsom, CA 95630-6294  $ 268,000.00
124 Mesquite Ct Folsom, CA 95630-4845  $ 269,100.00
112 Grantham Ct Folsom, CA 95630-8601  $ 270,000.00
749 Kilbirnie Ct Folsom, CA 95630-3609  $ 282,000.00
447 Gem Smith Pl Folsom, CA 95630-3163  $ 285,000.00
465 Precious Ln Folsom, CA 95630-3159  $ 285,000.00
1171 Avon Way Folsom, CA 95630-3124  $ 289,000.00
104 Alezane Dr Folsom, CA 95630-2933  $ 290,000.00
639 Flower Dr Folsom, CA 95630-4817  $ 290,000.00
1659 Ballou Cir Folsom, CA 95630-5715  $ 300,100.00
146 Oxburough Dr Folsom, CA 95630-3500  $ 312,500.00
115 Fantages Way Folsom, CA 95630-8146  $ 315,000.00
700 Moore Way Folsom, CA 95630-5437  $ 315,000.00
112 Palabra Ct Folsom, CA 95630-4921  $ 316,000.00
103 Oak Ravine Way Folsom, CA 95630-2013  $ 325,000.00
283 Marsalla Dr Folsom, CA 95630  $ 328,000.00
251 Luna Cir Folsom, CA 95630-7747  $ 329,050.00
287 Silberhorn Dr Folsom, CA 95630-6745  $ 330,000.00
163 Bittercreek Dr Folsom, CA 95630-2317  $ 330,000.00
162 Gilded Rock Cir Folsom, CA 95630-3276  $ 330,000.00
1304 Fong St Folsom, CA 95630-2462  $ 335,000.00
108 Grantham Ct Folsom, CA 95630-8601  $ 335,000.00
523 Heiler Ct Folsom, CA 95630-6220  $ 340,000.00
1450 Strabane Way Folsom, CA 95630-6223  $ 345,000.00
104 Blue Canyon Way Folsom, CA 95630-2037  $ 350,000.00
128 Ballast Way Folsom, CA 95630-8015  $ 350,000.00
456 Porter Rd Folsom, CA 95630-6174  $ 355,000.00
113 Bunker Ct Folsom, CA 95630-4831  $ 355,000.00
1732 Parkway Drive North Dr Folsom, CA 95630  $ 356,929.00
1686 Parkway Dr Folsom, CA 95630  $ 358,944.00
1488 Freswick Dr Folsom, CA 95630-5306  $ 365,000.00
101 Goodell Rd Folsom, CA 95630-5221  $ 369,000.00
1700 Parkway Dr Folsom, CA 95630  $ 374,172.00
197 Keller Cir Folsom, CA 95630-7622  $ 375,000.00
152 Livermore Way Folsom, CA 95630-5210  $ 375,000.00
120 Bachman Way Folsom, CA 95630-8444  $ 380,000.00
1037 Callander Way Folsom, CA 95630-6100  $ 380,000.00
169 Keller Cir Folsom, CA 95630-7620  $ 385,500.00
1260 Humbug Creek Ct Folsom, CA 95630-7642  $ 388,650.00
217 Orange Blossom Cir Folsom, CA 95630-8108  $ 390,000.00
192 Bayline Cir Folsom, CA 95630-8075  $ 402,000.00
107 Arrowsmith Dr Folsom, CA 95630-5294  $ 402,725.00
272 Randall Dr Folsom, CA 95630-4923  $ 407,000.00
1529 THURMAN Way Folsom, CA 95630-7307  $ 410,000.00
426 Chaparral Dr Folsom, CA 95630-6172  $ 415,000.00
1976 Larkhall Cir Folsom, CA 95630-6187  $ 420,000.00
181 Dulverton Cir Folsom, CA 95630-6893  $ 421,000.00
215 Silberhorn Dr Folsom, CA 95630-6712  $ 431,000.00
841 Duncan Way Folsom, CA 95630-8802  $ 452,300.00
361 Canyon Falls Dr Folsom, CA 95630-7129  $ 479,000.00
932 Glennfinnan Way Folsom, CA 95630-6111  $ 482,500.00
1682 Halverson Ct Folsom, CA 95630-7350  $ 484,000.00
105 Clemsford Sqr Folsom, CA 95630-6787  $ 485,000.00
1542 Parkway Dr Folsom, CA 95630-7309  $ 488,000.00
102 Cedar Ridge Ct Folsom, CA 95630-7418  $ 515,000.00
93 Hollyann Ct Folsom, CA 95630-1900  $ 525,000.00
275 American River Canyon Dr Folsom, CA 95630-7143  $ 535,000.00
311 Canyon Falls Dr Folsom, CA 95630-7126  $ 540,000.00
497 Williams St Folsom, CA 95630-9559  $ 582,000.00
1901 Caversham Way Folsom, CA 95630-6251  $ 585,000.00
1712 Dornie Cir Folsom, CA 95630-5320  $ 614,815.00
236 Cascade Falls Dr Folsom, CA 95630-1573  $ 630,000.00
226 American River Canyon Dr Folsom, CA 95630-7410  $ 635,000.00
115 Del Norte Vista Way Folsom, CA 95630  $ 665,000.00
711 Misty Ridge Cir Folsom, CA 95630-6245  $ 720,000.00
745 Grandview Dr Folsom, CA 95630-6243  $ 755,000.00
1784 Summer Cloud Ct Folsom, CA 95630-6249  $ 920,000.00

December 2012 Home Sales - El Dorado Hills, CA

2230 Valley View Pkwy #231 El Dorado Hills, CA 95762-5591  $    164,900.00
3035 Waterman Ct El Dorado Hills, CA 95762-4224  $    250,000.00
3929 Watsonia Glen Dr El Dorado Hills, CA 95762-6542  $    257,500.00
5160 Camanche Way El Dorado Hills, CA 95762-6566  $    260,000.00
3953 Watsonia Glen Dr El Dorado Hills, CA 95762-6546  $    264,400.00
1620 Bonita Ct El Dorado Hills, CA 95762  $    265,000.00
2724 King Edward Dr El Dorado Hills, CA 95762-4110  $    270,000.00
968 King John Way El Dorado Hills, CA 95762-4121  $    280,000.00
1030 Castle Craigs Ct El Dorado Hills, CA 95762-4470  $    281,300.00
3482 Patterson El Dorado Hills, CA 95762  $    292,000.00
3273 Woedee Dr El Dorado Hills, CA 95762-7503  $    330,000.00
304 Kohli Ct El Dorado Hills, CA 95762-9663  $    339,000.00
4130 Monte Verde Dr El Dorado Hills, CA 95762-5557  $    349,000.00
3703 Almaden Ct El Dorado Hills, CA 95762-6567  $    350,000.00
3745 Archetto Dr El Dorado Hills, CA 95762-5441  $    355,000.00
2810 Tam O Shanter Dr El Dorado Hills, CA 95762-4237  $    355,000.00
2261 Cardiff Cir El Dorado Hills, CA 95762  $    370,000.00
4171 Monte Verde Dr El Dorado Hills, CA 95762-5557  $    376,000.00
7054 Cinnamon Teal Way El Dorado Hills, CA 95762-6318  $    380,000.00
3741 Archetto Dr El Dorado Hills, CA 95762-5441  $    382,000.00
504 Summer Ct El Dorado Hills, CA 95762-6332  $    392,000.00
510 Prairie Falcon Ct El Dorado Hills, CA 95762-6303  $    405,000.00
9036 Longford Way El Dorado Hills, CA 95762  $    405,000.00
5013 Taylor Way El Dorado Hills, CA 95762-7531  $    411,000.00
4167 Torrazzo Way El Dorado Hills, CA 95762-5443  $    424,000.00
1081 Gemwood Way El Dorado Hills, CA 95762-9507  $    425,000.00
1919 Foster Way El Dorado Hills, CA 95762-7660  $    430,000.00
2337 Beckett Dr El Dorado Hills, CA 95762-5213  $    446,900.00
3230 Montrose Way El Dorado Hills, CA 95762-9682  $    449,950.00
1125 Turquoise Way El Dorado Hills, CA 95762-4344  $    450,000.00
2125 Edington Pl El Dorado Hills, CA 95762  $    460,000.00
9016 Hearst Pl El Dorado Hills, CA 95762-5483  $    470,000.00
3038 Ridgeview Dr El Dorado Hills, CA 95762-4342  $    480,000.00
4030 Fawn Creek El Dorado Hills, CA 95762  $    492,298.00
1527 Palos Verde Ct El Dorado Hills, CA 95762-4084  $    499,000.00
4142 Kilt Cir El Dorado Hills, CA 95762-5632  $    499,600.00
6489 Goya Way El Dorado Hills, CA 95762  $    500,000.00
3241 Rapallo Pl El Dorado Hills, CA 95762-5464  $    500,000.00
2522 Loch Way El Dorado Hills, CA 95762-5640  $    500,099.00
806 Spinning Wheel Ct El Dorado Hills, CA 95762-6612  $    504,000.00
3502 Keswick Dr El Dorado Hills, CA 95762-7836  $    505,250.00
3448 Brittany Way El Dorado Hills, CA 95762-3950  $    542,000.00
5042 Skellig Rock Way El Dorado Hills, CA 95762-7691  $    550,000.00
1706 Farmington Ct El Dorado Hills, CA 95762  $    570,000.00
2620 Giorno Way El Dorado Hills, CA 95762-4158  $    675,000.00
241 Socrates Pl El Dorado Hills, CA 95762-3957  $    790,000.00
4409 Cordero Dr El Dorado Hills, CA 95762-7603  $    810,000.00
3621 Brittany Way El Dorado Hills, CA 95762-3995  $    823,913.00
2558 Montgomery Pl El Dorado Hills, CA 95762  $    900,888.00
4753 Gresham Dr El Dorado Hills, CA 95762-7700  $ 1,100,000.00
3961 Errante Dr El Dorado Hills, CA 95762-7723  $ 1,178,000.00

Tuesday, January 15, 2013

Robie Point - Auburn State Recreation Area

Today we decided to take a break from the cold windy weather in Tahoe and enjoy our local trails.  We headed out to the Auburn State Recreation area for a relatively short day hike that anyone can enjoy, if even in part.  Along the way we saw runners, mountain bikers, dad's pushing baby strollers and dogs all enjoying a sunny cool day along the river.

We parked on Hwy 49 at the confluence of the North and Middle forks of the American River and headed south along the west side of the river.  We hiked at a pretty good clip along the old railroad road and after about an hour we came to an open trail that headed UPHILL.  We decided to venture up to see what was at the top.  We came to Robie Point and decided to check it out.



As we passed the entrance sign, it was immediately evident by the overgrown vinca that someone had planted non-native vegetation, but we saw next was truly a surprise.  There were hand made rock walls, brick walls and a large foundation.  Whoever had lived there had meticulously built terraced retaining walls, patios and pathways from stones and pavers.   There were stairways leading from what was once a house to the grounds all around, which by the way had spectacular views to the Foresthill Bridge.









Does anyone know the history of this intriguing place?



Owning a Home is Still the Dream

one cool thing still the dream

Thursday, January 10, 2013

OPEN HOUSE - Sunday 1:00 - 4:00

4922 Jubilee Trail Shingle Springs, CA 95682
VIEWS!!!
3738 sq'
4 Bedrooms/4 Baths
5 Acres
5 Minutes to HWY 50
 

Friday, January 4, 2013

Just Listed - 7299 Jenna Way Sacramento

 
$224,900.00
At 2,028 square feet, this is one of the largest homes in the area!  Home boasts 4 Bedrooms, Formal Living Room and Dining Room, Family Room PLUS an Office.   There is tons of closet space as well as 2 sheds in the yard for extra storage.  Nice location on a corner lot.

Thursday, January 3, 2013

Green Kitchen Countertops: 3 Eco-Friendly Choices

Visit houselogic.com for more articles like this.

Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

Wednesday, January 2, 2013

Mortgage Forgiveness Debt Relief extended

Late Tuesday night, Congress reached a settlement in the “fiscal cliff” negotiations. As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year. The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction), or foreclosure. C.A.R. would like to thank the 26,296 California REALTORS® who sent messages to their members of Congress and made 1,862 calls in response to C.A.R.’s Call-for-Action. Also under the agreement, so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. The thresholds have been increased and are indexed for inflation so will rise over time. Under the formula, filers gradually lose the value of their total itemized deductions up to a total of a 20 percent reduction. The reinstitution of these limits has far less impact on the mortgage interest deduction (MID) than a hard dollar deduction cap, percentage deduction cap, or reduction of the amount of MID that can be claimed. Capital gains rates on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 for married couples. C.A.R. will continue to provide updates as they become available. Taken form the California Association of Realtors C.A.R. Newsline 1/3/13

Tuesday, January 1, 2013

I Must Really Love My Job to Work on New Year's Eve!

First of all, I'd like to say "Thank You" to all of the amazing people I had the pleasure to meet and work with throughout 2012.  It was a rewarding year for me and I enjoyed every last minute of helping my clients achieve their dreams of buying a new home and/or selling their old one.

For one set of clients, (and myself) the year didn't come to an end until 4:00 p.m. on New Year's eve when we found out that the sale had finally recorded.  Although the buyer and seller had both signed on Thursday 12/27, we found out late Friday night that it hadn't recorded due to 5 additional conditions from the lender.  Between the weekend being upon us, vacations and the holiday ahead, it left us little time or resources to resolve the remaining issues. 

As most of you are aware, I like to spend any free time in the winter skiing.  This past weekend was no exception, although I saw my plans of enjoying 89 inches of fresh powder going down the drain quickly.  But thanks to mobile technology, (and a little help from all parties involved) I was able to talk, scan, email, text and DocuSign my way through resolving the remaining issues from the chair lift yesterday.  Although this effort did detract from my ability to be present with my best friend and husband during the chair rides, I was able to enjoy some of the best carving of my life on every run down the mountain.  Sierra at Tahoe was eerily empty over the past holiday weekend due to limited pass holders being blacked-out, so we we want to thank the resort for providing a private playground over what is usually the busiest week of the year!

Congratulations and "Thank you" to the sellers of 8527 La Riviera Drive in Sacramento for getting the deal done in 2012 - before the uncertainty of the 2013 capital gains tax law changes go into effect.  And congratulations and "Thank You" also to the new owners for trusting me to serve you!  Although it was a little stressful towards the end, we pulled it off together!



 
HAPPY NEW YEAR TO ALL!!!