From the SF Chronicle: -- Pre-approval. Some banks are proactively deciding what amount they will accept for a short sale house. Sometimes they reveal the amount; sometimes they don't, but either way it expedites the process. Homes with this arrangement are listed as...
We've followed the same four REO listing agents since 2007, looking for clues about the flow of REO inventories. Here is a comparison of late-August numbers: August 21, 2007 - 382 Actives/111 Pendings = 3.44 August 21, 2008 - 121 Actives/147 Pendings = 0.82 August...
Remember this RSF house that listed in December as a short sale for $799,000? Even though it's Hacienda Santa Fe (non-Covenant), the price sounded reasonable, and they did have offers. It was marked pending the first week of January. But in March it came back on the...
These owners bought this Bressi Ranch home new for $1,109,000 in July 2005, financed 90%, and refinanced three times since. I'm fairly certain that this is the seller that called in mid-2007 asking about an offer-to-purchase that was presented to her by a certain...
FreedomCM heard that Bank of America has stopped doing short sales in Nevada - is that a good idea? The whole idea is a slippery slope - once lenders allow a few homeowners to sell short, doesn't it create the classic moral hazard? Today there are MORE PENDINGS THAN...
Some readers had concerns about the La Costa lowball short sale mentioned on Friday. https://www.bubbleinfo.com/2009/07/buyer-representation/ My intention was to point out the future of the real estate business - it's going to get tougher on agents who can't keep up...
It was mentioned that bubbleinfo never makes it to Escondido - why? It's the wild, wild west! But if it's good enough for the Governator (who was there Friday) then let's give Esco a moment. We can call Escondido's real estate market...um...."diverse". In...
The lenders have received numerous requests for loan modifications. But many borrowers don't qualify, for various reasons: 1. Too far underwater. 2. Lousy financial package (make too much $$, make too little $$, incomplete pkg., etc.). 3. Not primary residence. 4. Not...
DR left this comment this morning: "We recently wanted to put an offer in on a "short sale" home we had been hoping would go up for sale. We had been watching for this home for two years. (The home has not been approved for short sale yet.) The real estate agent...
What happens to those on the edge of foreclosure? If you are Jan Terry, owner of this house at 2872 Vista Acedera in La Costa Valley and Jenae's co-conspirator, you pull out all the stops. First it was to try their lease-option program, hoping to find a renter willing...
