How to Avoid Home Foreclosure
Any home owners in financial distress should know that there is a good possibility that their mortgage lender may be willing to modify their home loan to make their loan payments more affordable. An effort to reduce your mortgage interest rate and/or payments should be the first line of defense against losing your home in […]
HUGE Demand for San Diego Homes
The competition among San Diego home buyers has become even fiercer in recent weeks. The shortage of homes for sale in San Diego CA is causing major frustration to would-be purchasers of San Diego homes and investment properties. The average time on market for non-short sale properties has effectively dropped to a matter of hours, […]
California Foreclosure Moratorium?
The California Foreclosure Prevention Act went into law on June 15, imposing a partial, temporary, 90-day moratorium on home foreclosures in California. The bill was passed in February, but just took effect this week. The law is intended to encourage lenders to provide mortgage workouts to financially distressed home owners, and was also intended to […]
San Diego Real Estate Investing 101
When it comes to real estate, sometimes it’s easy to become fixated on the details of the current news. It doesn’t help that news reports are often carry exaggerated headlines that are created to sell more papers and more advertisements. We forget that news reports are generally reactive rather than proactive. It’s very easy to […]
Short Sale Fraud In San Diego?
In a recent San Diego Real Estate Blog post we discussed potential tax consequences of short sales. There is an equally serious or even more serious danger that is related to the decision to attempt a short sale at all. There can be actual criminal consequences to pursuing a short sale in the wrong situations. You see, short […]
Buying Short Sale Properties
BUYING A SHORT SALE PROPERTY: In my last post I talked about San Diego foreclosures and the process for buying foreclosure properties. This time I will discuss short sales and the process of buying short sale properties in San Diego. A property that is sold as a “short sale” is one where the seller owes […]
Buying San Diego Foreclosures
It seems almost every day I am asked about the difference between short sales and foreclosures, and to explain them. I thought I would do that here, and also throw in some tips for anyone considering trying to buy a San Diego foreclosure property or short sale. In this post I’ll start with foreclosures. Most […]
Tax Consequences of Short Sales
One of the unfortunate facts about the current San Diego real estate market is that more than half of the homes for sale in most areas are short-sales. In a short sale situation, the home owner is seeking to sell the house, and the sale will net less to the home owner than the owner […]
Distress Over REO’s and Short Sales
San Diego home buyers are sick and tired of the run-around that they are getting from the banks with foreclosure sales and short-sales. The buyer sentiment about these “distress sales”, combined with a low level of inventory of homes for sale in San Diego, has given rise to new hope among prospective home sellers. Bank-owned […]
Rancho Penasquitos Homes Selling
It seems like all we hear in the news is how depressed the real estate market is and how nothing is selling. I sifted through all of the 68 active listings today in the 92129 Rancho Penasquitos zip code and found just a wee bit over half are distressed sales. Distressed sales = REOs/Bank owned […]