The rankings are in from the top 20
2007-08-14 21:27:59
Stockton, CA is the the #1 city with the highest number of foreclosures with Sacramento coming in 4th in the US! There are alot of people in trouble and from the look of the numbers it is not getting any better. Stockton, CA is ranked 1st and has 8,619 active foreclosures, which is 1-27 households are affected, and that is a 256% increase in foreclosures. Sacramento, CA is ranked 5th with 1-36 households are affected, and that is a 241% increase in foreclosures.NV, CO, GA, MI, FL, AZ, OH, TX and NJ ( 37 of the 50 states show increases in foreclosures for the first quarter of 2007). For every 264 households, there is a foreclosure nationwide, over 430,000 foreclosures filed which includes defaults notices, auctions sales notices and bank repos. Numbers are up 27% from previous quarter and 35% from 2006 1st quarter. Here are the metropolitan areas with the top 20 rates of foreclosure from January to June 2007.1. Stockton
What does Barbie, Big Bird, Polly Pockets, Mattel and Fisher-Price have in common?
2007-08-14 16:13:28
Lead Paint is back in the news...... but this time it is not real estate! Its the safety of our children that is at risk! Some facts on lead paint from the real estate side:If your home was built before 1978, your child could be at risk for lead poisoning from the lead paint. However, research found that homes built prior to 1960 have the most lead paint. About 24 million housing units still have deteriorated lead paint, and elevated levels of lead-contaminated house dust. Lead can harm your child's brain, causing lifelong learning and behavior problemsAlmost one million children under age six (6) in the US suffer from lead poisoningChildren under age six are most at risk. When a pregnant woman is exposed to lead, it can harm her unborn baby.And now we are finding out that one of the leading toy companies has a massive recall of toys "made in china" for having dangerous amount of lead in the toys.Lead dust is invisible and is released from paint when it is pee
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, Fisher
Facts - NBA or NFL?
2007-08-14 13:37:27
by NBA
OR NFL? A little from the facts books and on the "something to think about"!(Author of facts unknown) OR 36 have been accused of spousal abuse7 have been arrested for fraud 19have been accused of writing bad checks 117have directly or indirectly bankrupted at least 2 businesses 3 have done time for assault71,repeat71 cannotget a credit card due to bad credit14 have been arrested on drug-related charges8 have been arrested for shoplifting21currently are defendants in lawsuits, and84 have been arrested for drunk drivinginthe last year Canyou guess which organization this is?Giveup yet? . . . Scroll d
the ULGY yellow sign
2007-08-20 03:00:05
Thinking out of the box! Can you make the ulgy yellow sign tasteful? The loud color of yellow, with typed words, with a nice stand, is it still an ulgy sign? I have been planning on checking out the success rate of the ulgy yellow sign -- get some opinions of the pros and cons of using them. I see them all over and I have no idea if they work for whoever put them up. I have been wondering if the loud color get the attention intended or is it just tasteless piece of work? What do you think? Can the ulgy yellow sign turn into something that will draw buyers or sellers? They are not your average road signs, such as: Safety signs for keep our highways safe for drivers. And they are not really ulgy at this point - I think we are all used to them and expect to see them as we are driving. They are supposed to be there for us to read and follow right? or just your regular, did you see that yellow s
Open Bar anyone?
2007-08-20 02:07:50
In one of my other posts I told you about 37signals project management that I ran up on. Well, I signed up and I am really enjoying these tools. What's new? Have you heard of Open Bar or OpenID?In short, OpenID is a way for individuals to create identity online and use it anywhere OpenID is supported.OpenID is the username you set up to access all the programs. Open bar means you can see all your programs on the tool bar and What is it? Its a single sign-on tool and more. It allows you to sign onto more than one program instantly. You can add whatever programs you want to logon to at the same time and they will provide you with what they call OpenID (which you make up) and it is secured. This will give you the capability to quckly swift betwen your accounts. According to the numbers, over 120 million people already have an OpenID password and are using the system.The OpenID works well with these products - that I recommend.Backpack-&nb
Don't give up...... just put on your seatbelt & hold on!
2007-08-16 15:58:16
History has a way of repeating itself! Life and events goes around in a circle... some good and some not so good! But in the long run, it all pans out and we learn to work with where the chips fall. When the table turns --- we will all be back on track again . &nbs
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You have to get on the mark, get set and then go.... Only fools rush in!
2007-08-20 19:42:29
Did you know...When banks compete -- you win? Not all the time..... When banks set you up -- you fail, ...unless the set-up just happens to fail. Not to get caught up in the masses whether the market is at a high, low, or upside down - education your self on the process, the terms, the deals that are not really a deal, be able to recognize a lemon loan. Remember lemons with sugar is just not lemonaide - no matter what you are told. Don't be an over anxious client...... be a smart one!Do you know... Who set ...who up? Do you care? Will it change anything to know? Whoever is to blame... it is for sure that it was either allowed to get out of hand on purpose or just plain lazy or bad business? The fact is mortgage lenders and banks set themselves and the consumers up. But also the consumers that did not read, did not listen, did not understand nor insist on understanding what they were signing and buying into -- s
every 1.4 seconds...........
2007-08-27 22:48:55
blog tipbit... Every second, 17 blog postings appear on the Web. The most popular blogging languages are:Japanese - 37%English - 36%Chinese - 8%These figures are according to Technorati, a blog that tracks blogs. Starting a blog is a snap. Since you are reading this, Welcome to blogging! Welcome to AR.Blog: A blog is often a mixture of what is happening in a person's life and what is happening on the Web, a kind of hybrid diary/guide site, although there are as many unique types of blogs as there are people.
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Last seen in the break room... if found , please contact the PBGC
2007-08-27 22:16:02
The Fed's are looking for 32,000 pensioners! Go to pbgc and see if your name is on the list. The federal organization guaranteeing pension benefits owes these missing people a grand total of $133 million. If found, the beneficiaries would receive anywhere from $1 to $611,028 from the Pension Benefit Guaranty Corporation; the average benefit is just under $5,000. The lost pensioner typically started working at companies when they were young, stayed on long enough to be vested, but didn't keep their address current. Othere pension holders became part of the corporation's database when they could not be located after their former employer went bankrupt, merged, or moth-balled its pension program. To see if Uncle Sam owes you a bundle, go to: (PBGC) pbgc.gov/search.If found please contact
the Pension Benefit Guaranty Corp.
Mr & Mrs Buyers - Where is your heart?
2007-08-27 21:37:40
You know the saying.... Home is where the Heart is? Hopefully, this will answer the questions: Why buy a home - with so many losing their home right now Why not continue to rent as I am doing isn't it easier to dowhy, why even try to get a loan in this mortgage stall that is going on?Well, I can't tell you how or what efforts to take to spend your money... but I'd like to jot this reminder down for your reading: Hopefully they inspire you to keep on trying to buy and finding your dream home. It is a buyer's market, all you will need to do is make sure you have done your homework and have your credit scores up, can document your income, credit history is up to par, and you are gainfully and stable in your employment.You can go out and purchase the the lovely home that have been dreaming about. Home is....Where the heart is Where you cultivate Where you nurture Where you give comfort Where you receive comfort Where you set
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Short sale & the tax effects to consider
2007-08-24 23:48:55
First and foremost: The seller should seek advice from his/her tax preparer. Each homeowner's tax circumstances are unique and need to be evaluated to determine the net tax effect. According to a local CPA:Generally speaking, if the loan was PURCHASE MONEY for a primary residence or a vacation home, the shortage on the payoff will not be taxed as income. Likewise, if a refinance loan was for HOME IMPROVEMENT on a primary residence or a vacation home, the shortage on the payoff will not be taxed as income.If, however, the refinance was for furniture, debt consolidation, school, or any purpose other than purchase or home improvement, the shortage on the payoff is likely to be taxed as income. Additionally, shortages on INCOME PROPERTY are likely to be taxed as income.In all cases, the IRS considers whether or not the sellers are otherwise insolvent. If the sellers are in bankruptcy, the shortage will probably not be taxed as income.LAST B
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Vacation: Smiles and Laughter and work!
2007-08-24 16:51:09
Well AR its my vacation time.... I am so blessed to be able to go on vacation this year. The sales are not what I had hoped or set goals for but I have an opportunity to take a vacation and I have surrender to the temptation --- well in a way I have. I have decided that as long as it can be a working vacation... I can do it. I know! I know! You gotta be creative to pull it off.Well, first let me say that I am not going to the Bahamas, Jamacia, Mexico, Hawaii, Florida and no cruise is on the schedule of places to go. I'll just say its because of weather so that you won't think that I am whinning... But let me just say that if I had reached my "mid-year" goals I could possibly have gone elsewhere. This market meltdown has caused some change of plans at least in my household it has. And should it start to pick up I don't plan on being somewhere laying in the sun and not having my laptop on and doing something t
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, Smiles
The blue ribbon of thrift!
2007-08-24 14:36:43
By now we all know what going on with the lenders and housing -- if you don't know it all you know some of what is going on. I continue to educate myself on what is going on and I am increasing my awareness of downside, the mass impact and the options. It occured to me that we have not heard from the credit union and they do a large amount of lending to their members and there are a large number of members all over at several credit unions.QUESTION: Who haven't we heard from during all this chaos? ANSWER: The member-based credit unions!Just a recap... the leading stories that we hear on the television, internet, radio, and all over unless you are under a rock and even then....lead storiesSoftness in the housing industryDeclining home prices in some areas The problems facing the subprime mortgage industry today. Foreclosures The stress of the poor loan optionsThe credit unions' mission is "to encourage ha
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Inflated reports... Don't be fooled. Educate yourself.
2007-08-24 10:11:52
I was talking to a house inspector and he was telling me something that I wanted to share. Not that you don't already know it but it is worth reminding agents.Be careful of inspection report and know what they mean. Don't just take the word and not review and research before you let your seller get cheaped. Get a second opinion as often as you can. If not in person, do some calling around and take notes. Once you've lived through a bad experience, I think you become smarter to the tricks of the trade. Just like any other trade, there are tricks.Increase your base knowledge to make yourself more valuable to your client.Remember buyers are looking for a deal -- but even more in this market and time. They want the lowest price, but on top of that.. they want the highest credit back for closing costs and repairs. Even and especially in this "short sale era". They tend to overlook the disclosure that the property
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, fooled
, Educate
Who's disclosing what??? and Do you know?
2007-08-24 09:33:20
I just had a tenant talk too much about the property I am selling and she is renting! Since the saying "you never know who you are talking to" is true, it has been proven yet another time in this situation. One of my listings - which is a short sale - is a pretty nice property and it is certainly worth the price that it is priced at to sale. The inside is great but it is hard to see yourself in it because of the way the tenant "WILL NOT CLEAN UP" for either a showing or an open house. I have complained to both the tenant and the owner but nothing has improved on that end. But that's another subject....So anyway I have to do what I have to do to sale this property, so I over look the mess and hope that the potential buyers can do the same. However, her mouth is running a mile a minute and I didn't know it... until I received an offer than it is with someone I have never seen. They just happen to know the neighbors nex
5 Reasons for Selling vs Letting the property go
2007-08-31 02:59:09
This is an effort to break down the reasons for selling as opposed to letting the property
go. There are a few reasons for selling, but I will just name 5.1. Damages credit: The Trustee's Deep upon sale is the final document, which is recorded after the property has gone to a trustee's sale. The Trustee Deed sale is one of the most damaging documents an individual can have on their credit rating, and possible even more damaging than a Bankruptcy filing.2. Deficiency judgement: If there is a non-purchase money deed of trust,t he homeowner is in jeopardy of being personally sued by the note holder for any deficiency amount, if the note holder is wiped out by a senior lien holder. The goal is to get the non-purchase money note holder to accept monies on a short pay, rather than receive nothing. Accepting monies of any kind, and issuing a re-conveyance on the deed of trust as total consideration of the debt, makes it m
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, Letting
1401 Lindstrom Avenue, Modesto, CA 95351
2007-08-30 12:46:45
$260,000 with $7,500 cc & carpet credit. Great for 1st buyers. This is a nice charming 3/2 with vaulted ceilings, with open floor plan, large kitchen, breakfast area, formal dining area & living room with fireplace.(1340 sq ft./lot is 5663 sq ft). Located in Tempo Park area with schools & bus stop within 3 blocks. This is a short sale upon lender's approval. Only serious & pre-approved buyers. Seller is motivated. All offers considered. Buy NOW!Call listing agents: Rosemary or D'Adrea - 866-750-8282Want a showing, please give agents a call first - Owner is in home.Short sale: Price, expense, commissions, conditions and terms are subject to lender's approval. Commission will be split 50/50 upon lender approval. Pre-Approval letter must accompany all offers to be considered.MLS: 70090397.Open House Schedule: 9/1 & 9/2; 9/8 & 9/9; 9/15 & 9/16 (from 1-3pm each weekend)
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Temporary buydown programs......
2007-08-29 14:22:24
The biggest challenge in today's mortgage environment is probably how to qualify borrowers on today's higher rates. According to my Indymac rep: "One answer is Indymac's aggressive TEMPORARY BUYDOWN PROGRAM!! We still allow up to 6% seller credit which can be used to do a Temporary
Buydown as low as 3% lower than the note rate! The really good news is that the borrower only needs to qualify at the initial interest rate and given that some of our programs allow up to a 55% DTI, even for Interest Only, Temporary Buydowns will allow you to qualify more homebuyers."Said it was ok to share. If you don't know about this, please check with Indymac.They offer:3-2-1 buydowns2-1 buydowns1-0 buydownsLet's say you're doing a 30 Yr Fixed with a rate of 6.875%. A 3-2-1 buydown would drop the rate the first year to 3.875%, 4.875% the second year, 5.875% the third year, and 6.875% the rest of the 30 years. A 2-1 buydown
2405 Shadow Oak Lane, Modesto, CA 95355
2007-09-21 12:20:38
JUST REDUCED! Now $265,000 w/$10,000 credit to buyer! A lovely family home (1684 sq ft / Lot: 6098)in an established neighborhood. Sylvan school district. Great floor plan, 3b/2ba, with formal & family living spaces. Great kitchen,cozy fireplace in family room with deck in backyard. Short Sale comes with $5K cc credit & $5K for minor repairs. Pre-approved buyers only. **Short Sale: Price, expenses, terms, conditions & commission to be approved by lender. Commissions to be paid 50/50 split. Occupied/No Lockbox. Please DO NOT DISTRUB OWNERS. Contact: Call listing agents to show and with questions. Rosemary or D'Adrea 866-750-8282. All offers to be faxed to 209-879-4601.MLS: 70047315
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Buyers: "Motivated Seller"..... OK this is going to be a deal... right?
2007-09-20 01:37:25
Motivated Seller
s: What are they, where can you find them and why are they motivated??A motivated seller is usually a person who is looking to sell their home quickly, and usually is less concerned with the sale price. But please be forewarned that seeing the "Motivated Seller" does not necessarily mean that a seller is desperate enough to agree to a quick and costly sale.A motivated seller is someone who has a very strong need or desire to sell his or her property and nothing else but selling will work for this individual. A motivated seller could be an advantage to a buyer, but it would be a better advantage to the buyer to ask questions about why a seller is motivated. If you do not know what the motivation, how can you help the seller?Some of the reasons seller can be motivated:Job lostFamily crises, such as health issuesFinancialNeed to moveStrictly emotionalDivorceProperty is falling apart and want to get out from under it Property is overpricedSeller is pur
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2871 1st Street, Unit 901 - Livermore, Ca 94550
2007-09-18 23:22:35
What a motivation to move to LIVERMORE, CA ! Great price $525,000! This gorgeous Palasage Community Townhome (Built: 2004)with (1744 sq ft) is a corner end unit and is sunny in like-new condition with a spacious kitchen , granite countertops, oak cabinets, black appliances, island & family room combo, baths are upgraded with granite countertops and nice decor touches, unit has designer warm colors throughout, carpet and wood flooring, oak cabinetry, custom closets, master has walk-in custom closet, other bedrooms has custom closets, double pane windows
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Short Sale: Tips of the Day!
2007-09-18 05:04:41
Short
sale tips - not guaranteed but it did work for me with my latest short sale negotiation.First don't give up (that was free advice)!Second, don't stop at one offer! Submit one offer and then submit backup offers. This way if the lender does not like the first offer, the lender can review the next offer or offers that you submit. Write a full report on the property. From damages to damages, get estimates, send photos, and do a write up comparison. Send estimates from professionals.Talk to the BPO (if you can) and let them know about the damages and ask them to take notes and pictures to provide to the lender. Who knows maybe the BPO agent will listen to you and not give an over priced BPO to the lender.You could even get your appraisal report and send that to the lenderFax and overnight the short sale request packageSay your prayers -- I did that and I believe that when you ask God for help -- he will! As it is said, It's alread
Stockton, CA Market Stats
2007-09-18 04:45:38
Stockton, CA Stats
- This is a breakdown of Residential properties SOLD, ACTIVE, PENDING and EXPIRED for the last 30 days from 8/17/07 to 9/17/07. SOLD 8/17 to 9/17Count134Total Price$43,666,767Average Price$325,871 ACTIVE 8/17 to 9/17Count:722Total Price$241,646,440Average Price$334,690 PENDING 8/17 to 9/17Count:154Total Price$46,659,266Average Price$302,982 EXPIRED 8/17 to 9/17Count:265Total Price$90,713,683Average Price$342,316 Stockton, CA Real Estate Market
Snapshot updated Monday,
What's the time of year got to do with it..... a second hand emotion?
2007-09-18 04:34:38
Some sellers wonder and ask if there is one time of year that is better than another for selling? My answer is well lets see.....I have always felt it is more about what you have to sell, what is the price, where is it located, and is it appealing rather than the time of year you list. From this the question arises the question... Is real estate seasonal?Disclaimer: Sellers DO NOT RELY on the planets for a good time to sell..... consult your real estate agent!!! (I just liked this picture!)Right priceRight HomeRight LocationAppealing to the buyer Ready, Willing and Able buyer and you on target!Below are some informational facts about what was going on in 2007 with the seasons. But yet there were some sales completed! We are winners! We can have successful sales even with the "soft market".Spring (Vernal Equinoxes late March to early June)- usually the highest volume of homes sales takes place. However....for 2007:The headlines: Fo
Buyers: Check out - My Featured Listings - Livermore, Manteca, Modesto - California
2007-09-16 22:00:28
$525,000 Townhome for Sale in Livermore - 2871 1st Street Great price $525,000! This gorgeous Palasage Community Townhome (Built: 2004) with (1744 sq ft) is an corner end unit and is sunny in like-new condition with a spacious kitchen , granite countertops, oak cabinets, black appliances, island & family room combo, baths are upgraded with granite countertops and nice decor touches, unit has designer warm colors throughout, carpet and wood flooring, oak cabinetry, custom closets, master has walk-in custom closet, other bedrooms has custom closets, double pane windows with window coverings, inside laundry room, custom pantry, 2-car garage with extra storage, common fenced pool & playground, walk to downtown, movie theatres, restaurants, shopping & ACE train with bus stop just yards away and easy 580 and 680 freeway access. Motivated Sellers! * Short Sale: Price, expense, terms, conditions and commissions are subj
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, California
.. the clock stops... after the trustee sale
2007-09-16 00:27:34
A Trustees Deed upon sale is prepared after the sale is completed. This deed transfers title to the successful bidder or beneficiary. The Deed must be signed by the Trustee, acknowledged by a notary public and recorded. After the Deed has been recorded it is forwarded to the party who purchased the property at the Trustees Sale auction.There is no right of redemption after a Trustee's Sale, in California, and the successful bidder is entitled to immediate possession. The one exception is the right of federal government to redeem, with full payoff to the successful bidder, if a federal tax lien has been recorded against the property and is subsequent to the deed of trust being foreclosed. IRS redemption rights elapse four months after the Trustees Sale.Good information to know, but not a pretty picture if your property gets to this point!
A miracle.... a postponement
2007-09-16 00:21:11
There are many reasons why a Trustee's Sale may be postponed. As an example: a bankruptcy or other legal proceedings may present County Records Research from conducting the sale on the scheduled date. If there is a bankruptcy of litigation, it may be necessary for the beneficary to emply the services of an attorney. County Records Research can assist you if you find it necessary to contact an attorney.The beneficiary is entitled to three separate postponements for their own reason. The beneficiary and the proeprty owner can agree on as many postponements as they wish. If ther eis a bankruptcy or legal proceeding, the sale can be postponed as many times as necessary to obtain a court order to allow the sale to take place. If a sale is postponed for any reason, an announcement must be made at the sale location as to the reason for the postponement as well as the next sale date.If the postponed sale date is for a period of time that exceeds five bus
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The Trustees Sale
2007-09-16 00:02:18
The date of the Trustee's Sale is established at the time of the Notice of Trustees Sale is prepared. The Trustee's Sale is a public auction sale and is open to all qualified bidders. Bids are made orally and everyone who wants to bid must first qualify with the auctioneer by sowing the amount and type of money intended to be used in the event of a successful bid. The Notice of Trustee's Sale designates the type of funds required, usually cash, cashier's check or bank check. The acceptance of the bid is not final until the total amount is paid to the auctioneer by the highest bidder. The beneficiary does not need any money to make the opening bid. However, if the lender plans to bid over the opening bid he must have enough money to pay the difference between the amount of his balance due in his final bid. The sale is complete with the highest bidder is received an the auctioneer accept it, declaring the property sold.Californian
To Cure a Default
2007-09-15 23:55:35
Many foreclosure proceeding are reinstated during the 3 month default period. Some are either sold and this is called a short sale if the property is upside down and lender agrees to take less that what is owed on the property. But you can cure a default with selling it.The borrower or anyone with a subsequent interest in the property may pay the beneficiary or his authorized agent the amount necessary to cure the default. This amount will include delinquent payments, and advances and the fees and costs associated with filing the notice of default and other necessary documents. Always call County Records Research prior to accepting any money to verify the total costs to cure the default. Acceptance of any partial reinstatement may avoid the foreclosure proceedings. When the default is cured, a Notice of REscission will be prepared so that it can be signed by the beneficiary. When the Notice of Rescission is recorded it cancels the N
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Will they post on my door?
2007-09-15 23:47:05
Publication Period and Trustee's Sale - information you should know and understand. During this time a notice may be posted on your door! I was asked the other day, do they post papers on my door? The answer is - YES!A: County Records Research will prepare, record and arrange to post the Notice of Trustees Sale.B: The Notice of Trustee's Sale must be published once a week for 3 consecutive weeks in a newspaper of general circulation near the property location.C: The borrower or junior lien-holder may reinstate the loan at any time up to five business days before the sale date.D: If the loan has not been reinstated prior to five (5) business days before the sale, the beneficiary may demand that the entire unpaid obligation be paid in full during that five-day period.E: The trustees sale is conducted.F: A Trustee's Deed is prepared for the lender or outside bidder. (someone else owns your home at this point)Please note, there is a per
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