…FINALLY WE ARE TURNING THE CORNER…existing homes prices are increasing in the area of 15% to 20% annually in San Joaquin and Stanislaus counties. Selected communities enjoy more value than others! The point being…now is the time to buy!! Prices are going up and interest rates remain low!! Go get prequalified by a lender and then get busy!! Good luck!!!
THINK AGAIN! Every lender that I have dealt with has their own way of determining value…BPO, appraisal, etc. Evaluate the hardship of the homeowner to see if they meet “Modification” guidelines, that seem to be all over the board. Then gather all the bank accounts, payroll subs, tax returns (and P&L for self employed)…and keep them current within 30 days. Then everyone has to wait on the lender to review and respond…and that may take a week to a month before moving to the next step and maybe get the home sold and closed within 60 days! I’d like to hear from others that have completed a Short Sale process and what type of conditions surrounded the closing!
As of the end of October 2011 there are approximately 2.2 million homes in the process of being foreclosed on throughout the United States. California is still one of the hardest hit states and will certainly have its fair share of these foreclosures. The foreclosure process takes 3 months and 21 days from the Notice of Default (NOD) filing and then the property is sold at the courthouse steps.
I have a city in my market area that is requiring that a new business locating in their city to pay Sales Tax revenue to that city for all sales, including resale transactions to businesses located in another city or county. In fact, the city is setting a minimum of $50,000 per year that the new business must pay to the city in order to do business in this city. What do you think about this? Need your comments! Tweet @BernieHeyne
REALTY WORLD – Hometown Associates is here to help guide you through the process. Now is the time to seriously consider buying a home with low price and very low interest rates. You can Tweet me at @BernieHeyne.