Tracy, CA Real Estate News

By Christina ONeal, Realtor - Ripon California
(At Home Real Estate Group)
HSBC short sale approval in 5 weeks!!!! my timing documentation to a happy ending soon to come.... 1/29/10...put short sale on the Tracy Real Estate market up for sale. 2/2/10...received 5 good offers on the house & then the seller chose one to send to bank. 3/2/10...we called the winning buyers agent to say, "get ready for an acceptance".  Then buyers backed out & decided against the home.  All backup buyers had secured another home or were not interested anymore. 3/4/10...received another good offer on the house & sent over to bank. 3/16/10...received a short sale approval 9 days later than it was issued (short sale approval was truly issued on 3/8/10) 3/17/10...Buyer is happy, but we have to close escrow by 4/8/10.  Time to make things happen fast.  Thank you HSBC for a fast short sa...
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By Christina ONeal, Realtor - Ripon California
(At Home Real Estate Group)
First Step:  not making your mortgage payment... Second Step:  Notice of Default is filed... Third Step:  111 days later, Trustee sale at local county courthouse Fourth Step:  Time to move out because someone else owns the home. There are so many variables that as your local realtor, this could be a complete book, which I think is where the confusion comes in.  I tried to boil it down to simple terms, because honestly THE PUBLIC needs to know their options & reading a book & interpreting that book takes too long. Are you in between 1st & 2nd step or 2nd & 3rd step?  Do you live in Tracy, Ripon, Manteca or Mountain House, CA? call me for confidential consultation on all the possible in between OPTIONS with foreclosure & timing.   If you are reading this & you know that foreclosure might ...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
I chose this profession, perhaps it chose me, either way Short Sale make me sad. I'm sad that I can't help every seller that truly has a hardship I'm sad that some sellers lie, and take advantage of the current economy. I'm sad that my buyers wait and wait and then the bank denies the short sale. I'm sad that the banks take for ever to get us an answer. I'm sad that a great offer is denied by the bank. I'm sad that it will cost the bank more to foreclose than do a short sale, yet they choose this route. I'm sad that I can't give definitve answers as to how long the process will take, if their short sale will be approved, etc. I'm sad that the lien holders cut our commission, when short sales are more work that any other kind of sale. I'm sad that I can't help everyone. I'm sad that ther...
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By Christina ONeal, Realtor - Ripon California
(At Home Real Estate Group)
Are you interested in what is coming to the city of Tracy in 2010? Buy a ticket for $15 & come hear it first on March 24th, 9am - 11am Where:  715 Central Ave, Tracy, CA When:  Wednesday, March 24th, 9am - 11am Who:  Brent Ives, Mayor What:  become informed of projects and new developments within City that may affect your business! I am looking forward to what will be said.  I just bought my ticket over the phone at 209-831-6858. Any questions about buying or selling a house in Tracy, call me at 209-321-6122 or email christina@christinaoneal.com    
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By Frank G. Silveria III, Frank Buys Houses - Sales - Property Management
(Frank G. Silveria Real Estate | Keller Williams Realty)
OPEN HOUSE! 4460 Cove Ct Tracy Ca Sunday March 14th, 12pm to 6pm    For More Information and Pictures CLICK HERE Bedrooms: 5Baths: 3Sqft: 3,712Lot Size: .15Style: 2-story  
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
Can you believe it.  First Time Buyers get their DREAM HOUSE inTracy, CAHere was this list of criteria:South of Schulte3 Bedrooms2 BathsGranite CountersHardWood FloorsPoolTracy School DistrictUNDER $170,000 and before 1st time Home Buyer Credit Expires!My buyers got EVERYTHING on their wish list.  EVERYTHING!Video of their new home is on YouTube, see it here.When you're ready to find your perfect home, all you have to is CALL!See story on Short Sale Success -- yes this home was a SHORT SALE!  PR: wait...  I: wait...  L: wait...  LD: wait...  I: wait... wait...  Rank: wait...  Traffic: wait...  Price: wait...  C: wait...        
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
Bank of America Short Sale - SOLD, in Tracy, CA  Why so unique?  The Seller NEVER MISSED A SINGLE PAYMENT. yes, you heard correctly.  The seller paid every payment, and the short sale was approved. One of the reasons was the sellers proactive approach with the bank.  She was not afraid to call and be her own advocate. It is very important if you are considering a short sale that you find a REALTOR who know's how to CLOSE them.  I've been doing short sales for 6 years now, with a 75% success rate, to read the success story on this property click here.  You get to see the house and the first time home buyers who's every wish came true!    PR: wait...  I: wait...  L: wait...  LD: wait...  I: wait... wait...  Rank: wait...  Traffic: wait...  Price: wait...  C: wait...    
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By Frank G. Silveria III, Frank Buys Houses - Sales - Property Management
(Frank G. Silveria Real Estate | Keller Williams Realty)
JUST LISTED!! In Tracy Ca 2742 Dorset Ln, Tracy Ca       For More Information and Pictures CLICK HERE Bedrooms: 4Baths: 3Sqft: 2,782Lot Size: .18Style: 2-story Description: JUST LISTED: Large two-story in Tracy. Almost 2800 sqft, on a .18 acre lot with a 3-car garage. 4br/3ba, great location, easy freeway access, walking distance to Art Freiler School and a hop, skip, & a jump to West High School. Community parks nearby, as well as several shopping centers.
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
You've heard the real estate market in Tracy CA and the Central Valley is improving -- is it really.  Here are the stats as of today.  Why are statistics important to you? If you are a buyer, you need to know if prices are moving up or down, this will help you make a GOOD acceptable offer. If you are a seller, behind on your mortgage, and investor considering investing in the Tracy CA real estate market then these stats are very important.  Numbers don't lie. Active -   114 Short Sale  94 Short Sale Contingent  174 (Short Sale Contingent is when a buyer has made an offer on a short sale property. The Short Sale Seller has accepted the offer, and both parties are waiting for the bank to accept and/or respond to the offer) Pending -  307 Sold in Past 30 days - 103 Average Square Footage  ...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
There are so many exciting changes that have happened for first time home buyers.   First the FHA relaxed the flipping rule. If you were an FHA First Time Home Buyer you could not purchase a property that had been sold within the past 90 days.  Guess what, now you can.  There are some rules, however, this is a great opportunity for first time home buyers. (We'll talk about those rules in the next post.) The First Time Home Buyer TAX CREDIT. You must be in contract by April 30th, 2010 for your primary residence. Your home must close escrow by June 30, 2010. You can read all the rules on the IRS web site by clicking on the First Time Home Buyer link. You, the first time home buyer, have been waiting for the right time to buy your FIRST HOME. The time might be right, interest rates are low...
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By Frank G. Silveria III, Frank Buys Houses - Sales - Property Management
(Frank G. Silveria Real Estate | Keller Williams Realty)
In an effort to expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties, HUD has announced a temporary waiver of the 90-day flipping rule. The waiver takes effect February 1, 2010, and lasts for one year, unless otherwise extended or withdrawn by HUD. The waiver is limited to those sales that meet the following conditions: All transactions must be arms-length, with no identity of interest between the buyer and seller or any other parties participating in the sales transaction, including: Seller must hold title LLCs, Corporations and trusts must be established in accordance with state and federal law No evidence of previous flipping within 12 months Evidence that property was marketed openly, such as via MLS, auction, FSBO The waiver is limited to...
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By Christina ONeal, Realtor - Ripon California
(At Home Real Estate Group)
Thank you LITTON I faxed my short sale authorization for my clients last Thursday!!! & you won't believe what happened next!!! I got a fax 2 business days later from LITTON asking for me to send in 5 pertinent documents to get this short sale going. It is great. Now the wait :) my gut tells me that they are on the ball..... stay tuned for the outcome. call me if you want help short saleing your home at 209-321-6122 in Tracy, CA or nearby...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
WHO is the judge? Short Sale HardshipsWhen it comes to a short sale WHO IS THE JUDGE on what a hardship is or is not? Is it your local Realtor, your neighbor, you, the lender?  Bottom line it is the lender, and each lender is different, I'll go as far as to say each negotiator is different, to determine what is or is not a hardship.I had a prospective Short Sale seller in Tracy, CA ask me if I thought their situation was a hardship that would be approved by the bank to short sale their home.  I couldn't and wouldn't answer their question.Personally, I don't want to be the one to make that decision.I've been working the past 5 years in Tracy and Mountain House, CA helping home owners short sale their homes.  Homeowners are typically 30- 50% upside down in our local real estate market.  I...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
FHA is the NEW Subprime????   You hear the catch phrase that “FHA is the new subprime”.  Perhaps FHA heard it too, because there are some measurable changes coming including:  -lowering seller contributions -raising up-front mortgage insurance premiums -raising monthly mortgage insurance -increasing down payment for riskier borrowers Below are two Wall Street Journal articles worth reading if you work with FHA buyers or are a First Time Home Buyer who is using an FHA loan.   Wall Street Journal Reports: FHA To Lift Mortgage Insurance Fees   Wall Street Journal Reports: FHA Sets Tighter Lending Limits In Tracy and Mountain House CA our real estate market is dominated by First Time Home Buyers using FHA Loans or we have investors paying CASH.  What's it like where you are? If you work wi...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
  Great News for 1st Time Home Buyers & Real Estate Investors - HUD Relaxes the 90 day Flip Rule Real Estate Investors - Great news for you -- you can now buy a foreclosure, fix it up and flip it to a sell it to an FHA Mortgage First Time Home Owner.  Become a local Philanthropist by buying foreclosure homes and then help a first time home buyer use an FHA mortgage to purchase your property. FHA First Time Home Buyers - Great news for you!  1st time home buyers who are using an FHA Mortgage to purchase their first home can NOW buy a fixed up home the day it goes on the market.  1st time home buyers you no longer have to wait 90 Days to use your FHA loans to buy that great home.  A foreclosure someone has fixed up and now it meets the FHA loan criteria. The FHA Loan waiver will apply to ...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
  Susan Goulding | Keller Williams Realty | susan@susangoulding.com | 209-914-5573 2N18 Lakeside, Tracy, CA  SOLD Separate bonus room. Overlooking Crystal Lake in the San Joaquin River Club, private camp grounds, restaraunt and more. 1BR/1BA Single Family House   offered at $155,000 Year Built 1948 Sq Footage 1,300 Bedrooms 1 Bathrooms 1 full, 0 partial Floors 1 Parking 1 Uncovered spaces Lot Size .10 acres HOA/Maint $0 per month DESCRIPTION San Joaquin River Club is located close enough to the city yet far enough to be the serenity you're looking for. Complete with Club House, Chapel, Bar and Restaraunt, Member and Visitor Only Camp Grounds. This is a unique community of single family homes located on government land. Property is leased.   see additional photos below PROPERTY FEATURES...
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By Christina ONeal, Realtor - Ripon California
(At Home Real Estate Group)
Questionairre to see if you might qualify to do a Short Sale in Tracy? If you answer YES to any 2 of these questions, Call, email or text me.... 1)  Are you upside down on your home in Tracy, CA? 2)  Do you keep your mail unopened (even though you know you can't pay some of those bills)? 3)  Did you lose your job or have a change in pay recently? 4)  Did someone in your family pass away or come down with an illness that is making it hard for you to pay your bills? 5)  Do you own a home in Tracy, CA?  6)  Did you get a job transfer to somewhere other than Tracy, CA  & you have to move for your new job? 7)  Are you getting divorced or recently divorced? 8)  Do you have an addition to your family? new baby?  parents now living at home with you?  Meet with me for a private confidential cons...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
Short Sales - There are lots of questions about Short Sales. Does it matter if you live in Tracy, CA or Mountain House, CA? Are the answers always the same? A lot has been said, written and reported on about short sale. Here in the Central Valley of California, short sales are more prevalent than ever. The majority of homes for sale in the City of Tracy are short sales. The cities of Mountain House and Lathrop are dominated by short sales also. One thing is for certain that no matter where you live Real Estate is always changing. Do you know why Real Estate is dominated by Short Sales? Do you know what your options are as a home owner who is behind or about to be behind on their mortgage payments? Do you know how long a short sale can take? Do you know which banks move quickly and which...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
I'm not sure why the Short Sale vs Foreclosures debate fascinates me however, fascinated I am.  Perhaps it's my desire to help home owners in Tracy & Mountain House, CA who ask me "Should I stop paying my Home Mortgage?"The New York Times published an article about Home Owners who are choosing to walk away, why aren't more people making a potential financial decision to stop paying their mortgage?The New York Times article discusses how Morgan Stanley has "opted to no longer pay on mortgages of 3 large office buildings in San Francisco because it no longer makes financial sense, since they are so upside down, however there is no moral or ethical stigma associated with this 'business strategy."However, homeowners have stigmas and moral repulsion if they make the same "business strategy d...
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By Susan Goulding, Northern CA - Tracy & Mountain House Real Estate
(Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management)
I was asked the following question:  If I were in charge of a bank would I approve Short Sales and take the loss or would I leave the non -performing loan on my books, therefore it would not SHOW as a loss at this time....... So WHAT WOULD YOU DO?? I'm not in charge of a bank - however, I do know that this isn't going to go away without cooperation from the banks.  They don't approve a loss on a short sale, they don't modify the loan, they wait and take 40% less in a foreclosures. Most of the loan mods I've seen are only going to prolong the inevitable. Yes we, the American People got ourselves into this mess.... however the banks/lenders were an equal party to the problem. The Federal Government DID not help anything by giving TART money to the banks that temporarily helped the BANKS. ...
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