A short sale is a real estate transaction in which the proceeds from the sale do not cover the balance owed on a loan or loans on the property. Lenders accept a discounted payoff on the loan and allow the sale to close escrow. The bank will agree to discount the loan due to an economic hardship on the part of the mortgagor, and the homeowner will sell the mortgaged property for less than the outstanding balance of the loan and turn over the proceeds to the lender or bank.

The main goal of a short sale is to prevent foreclosure, however the bank’s decision to move forward with a short sale is dependent on whether there will be a smaller financial loss taking the short sale or in the carrying cost associated with foreclosure.

Advantages for the homeowner are avoidance of a foreclosure on their credit history and some partial control of the monetary deficiency. Additionally the process of a short sale is faster and less costly than a foreclosure.Controlling that deficiency and paying off one’s debt via a short sale is a sure fire way to sidestep immense financial hardship and get back on one’s feet. While a short sale does adversely affect a person’s credit history, the impact is far less than that of a foreclosure.

If you or someone you know is thinking of listing your home as a short sale or would like more information about our market in Brentwood, Oakley, Antioch, Discovery Bay or the greater Contra Costa County real esate area. Please contact “Team Elite” of Keller Williams Realty Brentwood. You can reach us at the below contact information

Judy Hazen
“Team Elite”
Keller Williams Realty
925-392-4131
www.teamelitehomes.com
info@teamelitehomes.com

Wow the market has sure taken an upward swing in the past month. Homes that are priced to sell are receiving multiple offers and prices are being driven upwards in the amounts of sometimes $60,000 over asking price.

What is going on? Prices in our area have reached an all time low. We have not seen prices this low since the early 90’s. For all those people who were pushed out of the market due to prices of homes being so high, guess what? They can afford to buy NOW!

Not everyone got caught in the buying frenzie in the last five years. And not everyone has bad credit. There is a whole new cliental out there that waswaiting for the bubble to burst and burst it did. Now they are the ones who are buying up all the forclosed homes. Another reason they can afford to buy right now is the FHA, VA, and Cal HAFA loans have all made adjustments to their programs for the better of the consumer.

Don’t miss the market!! If you are waiting for prices to drop any further, you will see the market pass you by. There is already a bidding war you have to contend with. However there is a lot of inventory on the market as well as more forclosed homes to come.

For more information on how you can get started in buying these homes. Please give me a call or contact me at the following

Sincerely

Judy Hazen

“Team Elite”

info@teamelitehomes.com

www.teamelitehomes.com

925-392-4131

Good Day all you investors out there. Just a note to keep in touch and let you know that home prices are at an all time low in California. Did you know that we have over 400 homes in Brentwood alone that are bank owned?? We even have homes priced as low as $199k!When was the last time you saw this?? I myself own investment properties and have been waiting to buy once again. I believe now is the time. Financing is great right now. Did you know that we can get an investor in a home for as little as %5 down. Or we can get you a loan with 20% down with 5.5 percent financing on a 30 year fixed rate. We can also get back from the bank all the closing cost and more!!!

That’s not all. Did you know that every rental that I put on the market gets rented within two weeks? Recently the last two that I rented out did not even make it on the mls??

Let me give you one more example. In 2000 I pick up a couple of rentals in Brentwood and Oakley. In 2005 we sold them for double and made over $600,000. Talk about a great return on investment. Did you know that as an investor you make your money on the buy and not the sale.

NOW IS THE TIME TO BUY!!!

Please call me or email for a list of the hottest bank owned properties around. Please let me know what price range you would like to stay in and any other request. I can set an appointment with you at anytime in my office and we can review together your plan as an investor.

Thanks for your Time!

Sincerely

Judy Hazen

“Team Elite Homes”

Keller Williams Realty

925-392-4131

www.teamelitehomes.com

info@teamelitehomes.com

What should you look for in a preclosing inspection? To start with, you want to make sure that condition of the house has not changed since you signed the contract several months earlier. Believe it or not a lot can change in the ensuing weeks. (more…)

The california association of realtors has an as-is clause in the contract that states that the property shall be in the same condition “as-is” was on tne day the buyer viewed the property and wrote a contract. It is differant than the as-is clause that says a home seller will make no repairs. (more…)