Is your home priced too high for the current market? Many times, sellers insist on testing the market to make sure they are not leaving money on the table. Some times, the listing agent is selected based on recommending the highest list price. Other times, sellers simply have an inflated opinion of the value of…
Yearly Archives: 2007
Cancellation of Debt from Foreclosure or Short Sale
An additional consequence of losing your house to either foreclosure or a short sale, is the potential tax liability. (As if you aren’t hurt enough!) The IRS has added a section to their website that helps explain it. You need to consult a tax professional to be sure, but this site gives you some information to start…
Price Reductions
On the days that I’m not out showing or previewing homes, I check the MLS “Hot Sheet” list several times a day to see what just came on the market, what has recently been reduced, and what has changed status to indicate that it is under contract. I’m often amazed at the number of price…
Lake Forest Real Estate Market December 2007
The Lake Forest market, as well as surrounding cities in the South Orange County area, seem to be picking up the pace a little now. The inventory has shrunk some, as many sellers have taken their homes off the market for the holidays, and the prices are now noticeably lower than last summer. I have…
Foreclosure Fraud! (Watch Out)
Freddie Mac just released this video about foreclosure fraud schemes. It’s only a few minutes long, but gets the point across quickly. If you know someone who is behind on their mortgage, there are many ways they can minimize the damage, but signing off on the deed is not one of them! View this You-Tube…
Lease Option (Lease to Own)
I’ve had a couple of buyers ask me recently about using a lease option, or “lease-to-own” agreement to buy a house. Since I have had some experience with this, decided to post about it. If you wanted to consider lease-to-own, also known as lease-option, of a property, the most likely candidates are vacant homes that…
What's Your House Worth?
Here’s a new one that I just tried out. You enter the purchase date and price, and it will calculate the current value using historic averages and the Case-Shiller studies and reports. Try it yourself! Let me know what you thought by leaving a comment here.
Lake Forest Real Estate Market November 7, 2007
Lake Forest sellers are having a tough time adjusting to the realities of today’s market. There are currently 421 active properties in the MLS, and 95 of those (22%) are either foreclosed or short sales. The short sales, in many cases are not really available because it is unknown in if the mortgage holder will agree…
Foreclosure Process In California
In California, it takes several months from the first late mortgage payment until the foreclosure may be completed. The absolute minimum time required from the date of recording of the Notice of Default to actual sale is 112 days, but due to common delays, it is extremely rare for it to be completed in less than…
It's ALL about the PRICE!
Why isn’t my home selling? It’s fixed up, easy to show, listed in the MLS with photos and a virtual tour, and offers a generous commission to the buyer’s agent. It has been on the market 90 days and there are no offers! Well, I haven’t seen your house, but when all else fails, you…