I was on the phone with one of Bank of America’s short sale negotiators last week and she informed me of some “big” changes coming to the short sale process.  Bank of America claims to want to shorten the process to 20 days.  I am all for it.  We certainly can get it done on our end.  The problem lies on the bank side.  And here is why it will never happen.  Both Wells Fargo and Bank of America have increased their paperwork requirements, become more nit picky about what is being submitted and they have high turnover among their short sale representatives.  The reality is that until the bank empowers their agents with decision making authority, streamline the process and get qualified people in place,  nothing is going to change.  If I were you I would continue to expect it to take 4 to 8 months to close a short sale.  They just can’t seem to do it any faster.  Good luck Bank of America.  You have a lot of work to do to meet that lofty goal.

Alis Viejo Panoramic View Home Priced Right

Attention everbody! I just listed this beautiful new home at 46 Vista Del Valle.  It is priced right and has a spectacular panoramic city lights view.  Nice dramatic floorplan with cathedral ceilings.  Seller is motivated. Being offered for $545,000. Hurry!

Testing our Orange County Real estate blog connection to facebook.

Everything we publish on Orange County Real Estate will be networked on Facebook.  That means more exposure for our listings.

This service will allow us to shorten URL’s and also track user clicks.  Very cool for tracking our Orange County Real Estate traffic.

This is a better test post for Orange County Real Estate.  It includes hashtags.

This is a test of our Orange County Real Estate broadcast system to twitter.  We are publishing our Orange County listing on twitter.

We have begun the important job of syndicating our unique content to the web.  Real Estate articles posted on this site will be re-broadcast through out the web.

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I received yet another call today from a past client.  He was delighted with the service we provided.  Only 6 months after completing his short sale, his credit scores are back over 700.  Why?  Well I am not the credit bureau, but my guess is that is has a lot to do with the debt ratios.  After unloading all that bad debt, guess what? They now have an excellent credit profile.  Just goes to show you that home owners are more valuable to our economy without being saddled with hundreds of thousands of dollars in bad debt.  Its really just common sense.  I have heard this testimonial now from so many past clients.   If I were you, I would definitely correct my bad situation pronto.

The  Mortgage Forgiveness debt relief act and debt cancellation tax break is due to expire at the end of 2012.  You need to have completed your short sale to qualify.  That means starting now!  Don’t wait till its too late.

Whats HOT!

Super low interest rates = 4.5% on 30 year fixed

Low prices on Homes and Investment property

First time home buyer programs offering 2% down payment grant plus interest rate near 3/4% below market

Short sale time is running out!  If you do not complete your short sale prior to the end of 2012 you may be taxes on the debt forgiveness.  IT is substantial so call now to inquire about your specific situation!

Because you care… Refer your friend in the months of August through October and they will receive $1,000 cash towards closing costs.

Dear Clients and Friends,

That time of the year has come again when its time to take another look at what is going on.

Currently, we have an unbelievable buying opportunity.

Interest rates are back down to their all time lows. This makes home affordability almost the same as rent.   Its also going to lead to another refi boom. (take advantage because once inflation kicks in we are expecting rates to go much higher)

And more importantly, it means you can buy an investment property or move up to the home you always wanted and save big time!

This is like the perfect storm of buying opportunities.  Low prices and Low interest rates!  Its just a matter of finding those cherries as they become available.  And they are available.  When consumer confidence comes back and the market recovers, look out.

Regarding short sales – The time to act is now!

The mortgage home debt forgives act is due to expire at the end of 2012.  It can take a full year to approve a short sale.  Therefore, if you are upside down on your home, this year is the year to correct that.  After this year you run the risk of paying big taxes bills on the dollar amount that you have lost.

Don’t do it!  We have strategies that can help you stay in your home but eliminate the negative equity situation.   We have already completed over 130 successful short sales and can help you and your friends get out of overwhelming debt.

Wishing you all the best the rest of this year.  Please call with any questions that you have concerning these topics.       949-481-7358