Real Estate Information

One of the biggest deals about buying or selling a home is the Packing. If there is anything that would keep most people from moving its the pain packing up all our stuff and then unpacking at the new home or apartment. The Box connection makes the job so much easier for the job of packing. Best of all you can order online and they will deliver all your supplies the next day. Sometimes even the same day. We have recommended this company for years and they have never let us down or clients. Click Here to get to the website. They will deliver anywhere in Orange and San Diego counties.

Back by popular demand Movies in the Park, FREE! Every Friday between July 11 - August 22, 2008, bring the whole family, come by yourself, young and old  will have a good time. The movies begin at dusk at the Champions Sports Complex, 505 N Jefferson, Placentia. All movies are PG rated. Bring your fold up chairs and blankets for a inexpensive night out under the stars.
Best seats in the house fill up early. July 11 Over the Hedge, July 18 Surf’s Up, July 25 Happy Feet, August 1 Bee Movie, August 8 Flushed Away, August 15 Shrek the 3rd, August 22 Water Horse, Legend of the Deep.

1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.

2. Wash your windows and screens to let more light into the interior.

3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.

5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially in dark rooms. Replace any burnt-out bulbs.

6. Make minor repairs that can create a bad impression. Small problems, such as sticky doors, torn screens, cracked caulking, or a dripping faucet, may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.

7. Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.

8. Patch holes in your driveway and reapply sealant, if applicable.

9. Clean your gutters.

10. Polish your front doorknob and door numbers.

In the past year everyone has been talking about short sales and how much money you can save when buying a home. What is a short sale? In the simplest of terms, it is when a home owner has a loan on their home that is more than the current market value of the home.

Is this a perfect opportunity for a home buyer to purchase a new home at a price well below the current market value? The Seller just wants to get rid of the property at any price as he has not equity anyway. The bank doesn’t want the property. Banks are not in the property management business. The bank wants its money so that it can lend to someone else who will pay them back with interest.

If it looks to good to be true, it usually is. Most offers on short pays never get accepted by the bank’s loss mitigation department. It is not uncommon to take 4 to 6 weeks to get just to get an answer back on your offer.  Then there is certainly to be a counter offer regarding the price. Many listing agents of short sale properties list the property very low so that it looks like a “really good deal”. Then when an offer or even multiple offers are presented to the bank usually they will counter even higher than the list price.

Fact is, many sellers do not qualify for a short sale and they are not even aware of it. Before the property is listed for a short sale, a hardship package should be completed and sent to the lender to verify the sellers’ eligibility for short sale. There are strict guidelines that a seller must fall into when selling their property as a short sale. Many homes are listed before the hardship package is even sent to the bank. It can take 4-6weeks to get an approval for a short sale. This process has to be completed with each loan that is on the property.

It must be a true hardship or the bank will not look at it at all. The most common reasons lender will approve a short sale are:

Relocation out of the area
Inability to pay the loan
Death in the family
Loss of job
Court ordered sale of the property, usually due to divorce

The lender will want to see the last 2 years of the sellers’ tax returns. This is to ascertain if they any other assets, in state or out. The bank also wants to verify amounts in checking accounts, savings accounts, and retirement accounts (401k’s included) to see if this truly is are a hardship case. As a seller, the bank feels that you borrowed money from them and they expect you to pay it back. The seller is asking them to “let them off the hook due to them making a poor investment or exercising poor judgment on their ability to repay the loan.” So, before the bank agrees to allow the seller out of the loan for less than they are owed, they are going make sure the seller is truly a hard ship case. If the seller does have other assets, they will not approve the hardship, and the property will go into foreclosure.

Multiple loans on the property increase the difficulty of getting a short sale accepted. With multiple loans there’s a good chance the second will not get any or very little money. And a third is usually just out of luck. So why would you as a lender agree to a short sale at all if you are not going to receive any money? Most won’t. There’s nothing in it for them and the first will more than likely get the property back and get most of their money after they foreclose and the subsequent sale of the property.

This is a highly abbreviated version of what it takes to do a short sale. Look at purchasing an REO (Real Estate Owned) property. The Bank already owns the property and now you will deal with one identity that can make a decision in a reasonable amount of time and you will still get an excellent deal.

Click here and read more information about short sales in Wikipedia

Baby Boomers are putting their mark on yet another one of life's milestones—their retirement years. Increasingly, retirees are looking for part-time work, interesting experiences and learning opportunities. Boomers can network with employers and non-profit organizations offering such prospects at Brea's Retirement Expo 2008 set for 9:00 a.m.-1:00 p.m. on April 19 at Pioneer Hall. For more information click here