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…
The real estate market in Lake Forest, California, is very much like every other part of the country right now – it’s SLOW! The properties that are listed under $300,000 include 1-bedroom and a few 2-bedroom condos, with the lowest prices offered on the foreclosed listings. The lowest priced 1-bedroom is $204,900 and the lowest…
When sellers say that they want to list their home for substantially more than the comps support, I think a good list of reasons for buyers to overpay would help both the listing agent and the buyers. I realize that some of these are a bit of a stretch, or maybe even sarcastic, but…
Has your property value declined below the property tax assessed value? If you bought in 2005 or 2006, there is a chance that the value may now be lower than what you paid. Thanks to Proposition 13, our property taxes are based on the market value (usually, but not necessarily the sale price) at the…
Protecting the Seller When a Buyer takes Possession Prior to Close of Escrow I usually discourage giving the buyer possession of a property prior to actually closing the sale, but with the current situation in the lending environment, it may become necessary to do this more regularly. In California, we have a form called “Interim Occupancy Agreement” that…