Boy I wish I had a nickel for every time someone used this word when trying to buy a bank-owned property or a short sale, or even when getting a loan. You will want to use this word many, many times when working with a bank, and yet it is the word you should never […]
How’s the real estate market? Well that depends – are you thinking about buying, selling, investing, or renting? I’ll answer that question in a minute, but first let me bring you up to date. Crystal and I now work with Coastal Inland Properties, a small boutique real estate firm in Carlsbad. Our old RE/MAX broker […]
You might see “Contingent” or “Cont” as the status on a listing that you saw on a real estate website. What does that mean? A listing usually goes through 3 steps: 1.“Active”. This means the property is for sale and no offers have been accepted by the seller yet. 2.“Pending”. This means the buyer and […]
If you’re thinking about buying a condo, you should be aware that FHA has tightened their requirements for condo approval. That means that a condo association must be well-run before they will make a loan in that community. Some of the new guidelines are: –All units and common elements must be completely built. –No single […]
Investors are back in the market, and they’re paying all-cash, mostly for property under $500,000. The effect is to freeze out first-time home-buyers who need a loan. Banks are still chary about providing loans. About the only loans left for first-time buyers are FHA and VA loans. So, while the first-time buyer is working through […]
San Diego County saw the number of foreclosures drop across the board in December. There were 1938 Notices of Default filed versus 2565 in November, 2008 Notices of Trustee Sale versus 2119 in Novemeber, and 814 properties went back to the bank versus 953 in November. We know that several banks announced that they would […]
“Figures don’t lie, but liars sure can figure.” This quote by Mark Twain has never been more relevant than in our day. With contradictory statistics bombarding us daily, a thinking person has to wonder what’s real and what is a lie. Let’s do a real life example. In November there were 29,597 Notices of Default […]
The banks’ solution to the mortgage crisis these days is to “amend, extend and pretend.” This video talks about “shadow inventory”, “strategic default”, and from the street predictions about 2010 and beyond.
Here’s how to buy a bank owned property (REO) in San Diego County.
Frustrated trying to buy a bank owned property in San Diego? This video teaches you how to succeed.