Search results matching tag 'reo'

CNN Says Housing Market may be Stabilizing!

278262 — Sun, 05 Jul 2009 21:20:00 GMT

CNN is searching for a bottom in the housing market

With consumer confidence rising in May to its highest level in eight months, housing starts increasing more than 17 percent in May compared with the previous month, and sales of existing homes climbing 2.9 percent in April nationwide, it appears that the housing market may be stabilizing.

So what does that mean to you?

Although sales of existing, single-family homes rose 35.2 percent in May in California, compared with a year ago, the median price declined 30.4 percent during that same year. Some industry analysts predict that as specialized adjustable-rate mortgages, known as option ARMS and Alt-A mortgages, reset over the next 18 to 24 months, prices could decline further before stabilizing.

"We are seeing strong buying activity, particularly in those boom and bust markets, where prices have declined significantly. Buyers are coming in and fighting over properties -- there is multiple bidding in California and Florida," says Lawrence Yun, chief economist with the NATIONAL ASSOCIATION OF REALTORS(R).

Sales of existing homes are soaring as many investors and first-time buyers purchase distressed properties. Yun estimates that about 50 percent of current sales involve distressed properties, and he expects the trend to continue as foreclosures rise in the months ahead.

Although some economists predict home prices will continue to decline in the coming months, California'ss median home price rose for the third consecutive month in May, posting the largest monthly increase on record for the month of May.

Some buyers are trying to time the bottom of the market and purchase once it appears that prices are consistently and steadily rising. Many housing forecasters advise against this approach as buyers should not view their homes solely as investment opportunities. Historically, the average annual rate of return on a home lived in for five years or more is nearly 12 percent, based on data C.A.R. has collected over the last 40 years.

If you are thinking of selling your home, now is an excellent time with low inventory and the seasonal spike we get this time of year. Even if you are underwater on your home, like so many families, we'd like to help you find a solution. Call for a free consultation. Thanks!

Liane Thomas, REALTOR(R), CDPE
The Thomas Group, Keller Williams Realty
Serving Corona, Norco, Riverside, and Surrounding Communities
www.AllCoronaHomes.com
951 454-3805

Banks Accepting More Short Sales!

278262 — Fri, 05 Jun 2009 15:36:00 GMT

Did you know the Obama administration, through the Making Home Affordable program, is giving lenders and loan providers an incentive of up to $1,000 for each completed short sale? This is in addition to $1,000 to share the cost of paying any second-mortgage lenders to release their claim on the property. These incentives offered by the government, coupled with lenders wanting to reduce bad loans, are likely to increase the number of short sale transactions. "Without a doubt, lenders are more willing to work through short sales," said Andre L. Mitchell, the executive vice president of the Lynx Mortgage Bank. "In this marketplace if the lenders can negotiate in any way to get rid of a bad loan, they're going to do it." Banks may lose less money in short sales than in foreclosures, where banks may carry the house for a considerable period of time before selling it. Analysts believe short sales are often the best option, even for homeowners thinking about a new loan to save the home. "It's gotten to the point where people understand that sometimes you have to start over," says Mitchell. "A loan modification might help you in the short term, but sometimes what people need to do is get out completely."

Personally, we are seeing short sales getting approved faster, and the process is becoming easier than it has been in the past. We have been helping homeowners who are underwater since 2007. If you are a homeowner who is underwater, behind in payments, or facing a foreclosure, we'd love to talk with you. There is no obligation, and no cost to you. Thanks!

Brought to you by:
Liane Thomas, REALTOR(R)
Thomas Realty Group, Inc.
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

Price Reduced on 6475 Avenida Mariposa in Indian Hills

278262 — Thu, 27 Mar 2008 19:06:00 GMT

Indian Hills, Riverside - Announcing a price reduction on 6475 Avenida Mariposa, a 1,750 sq. ft., 2 bath, 4 bdrm 2 story. Now MLS® $350,000 - Priced to Sell!.

Property information

Open House in Sierra del Oro, Corona, on Sunday

278262 — Fri, 22 Feb 2008 06:25:00 GMT

[calendar:2008-02-24 2008-02-24]

Sierra del Oro, Corona - We invite everyone to visit our open house at 3621 Foxplain Road on February 24 from 12:30 PM to 4:00 PM. Priced like a repo, only better! This beautiful home is flawless, clean, and comes with a one year home warranty! Please stop by and say "hi". We'd love to meet you!

Property information

Interest Rate Snapshot January 25, 2008

278262 — Fri, 25 Jan 2008 15:09:00 GMT

Interest Rates are at 4 year lows!

30 Year Fixed 5.42%
15 Year Fixed 4.89%
5/1 Arm 5.00%
30 Year Fixed Jumbo 6.51%
5/1 Jumbo Arm 5.49%

Thank You to Bankrate.com for providing the rates!

Can you believe these great rates?? If you are planning to buy a home in the spring, start looking NOW. There are so many great homes to choose from. Get your pick of the litter now or wait until spring and get what is left over.

Have you heard the news? Bank owned foreclosure homes are HOT! Smart homebuyers know these homes can be priced way under market value. As specialists in this type of sale, we get a list every week. If you want your FREE copy, please call today.

Thank you for visiting, and have a safe and happy weekend!
Liane Thomas, REALTOR(R)
Keller Williams Realty
Serving Southern California Counties of Riverside and San Bernardino
(951) 454-3805
http://www.lianethomas.com/
http://www.allcoronahomes.com/
http://www.freeriversidehomesearch.com/
Liane@LianeThomas.com

Interest Rate Snapshot January 7, 2008

278262 — Mon, 07 Jan 2008 12:56:00 GMT

Interest Rates are Great!

30 Year Fixed 5.57%
15 Year Fixed 5.11%
5/1 Arm 5.36%
30 Year Fixed Jumbo 6.61%
5/1 Jumbo Arm 5.89%

Thank You to Bankrate.com for providing the rates!

Have you heard the news? Bank owned foreclosure homes are HOT! Homebuyers know these homes can be priced way under market value. As specialists in this type of sale, we get a list every week. If you want your FREE copy, please call.

Thank you for visiting, and have a safe and happy week!
Liane Thomas, REALTOR(R)
Keller Williams Realty
Serving Southern California Counties of Riverside and San Bernardino
(951) 454-3805
http://www.lianethomas.com/
http://www.allcoronahomes.com/
http://www.freeriversidehomesearch.com/
Liane@LianeThomas.com

Buy A Bank Repo Home

278262 — Tue, 27 Nov 2007 15:23:00 GMT

Now is an excellent time to consider a bank owned repo home! Banks are desperate to get these homes sold, and they are ready to deal! We are licensed to work with every bank on these special homes, and we serve all of Southern California. We will negotiate a great deal for you, help you with all the necessary legal paperwork, assist you in securing preferred mortgage rates, and guide you through an easy purchase. Best of all, our services are FREE to you as the buyer! For example: today in Corona, there are over 130 bank owned condos and homes priced from $189,000 to $939,000. Riverside has over 150 repo homes priced from $109,000 to $779,900. Want to know about another area? Just ask. We compile a new list weekly and will email or fax it to you. Call today before someone else steals YOUR bargain!
Thanks!
Liane Thomas, REALTOR(R)
(951) 454-3805
http://www.allcoronahomes.com/
http://www.freeriversidehomesearch.com/
Liane@LianeThomas.com