Buying A Fixer Upper

Buying A Fixer Upper - articles pro2sell

No Short Sale Deficiencies

A seller's first trust deed lender cannot obtain a defiency judgment against the seller after a short sale.  Providing written consent to a short sale shall obligate the first trust deed lender to accept the sales proceeds as full payment and discharge of the remaining amount owed on the loan.  This law applies to first trust deeds secured by one-to-four residential units, but does not limit the lender from seeking damages for fraud or waste by the borrower.  Senate Bill 931 effective January 1, 2011

"Never allow a person to tell you no who doesn't have the power to say yes." -Eleanor Roosevelt

I am hosting an Open House today. 15042 Granite Peak, Fontana, CA 92336. 12-4pm. 3 Bedrooms, 2.5 baths, Large Bonus Room, 2534 Square Feet, Built in 2000. Who do you know that would be interested in a new home? http://ow.ly/i/7tRv

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The iron grip of ARMs on California real estate | first tuesday journal online

The iron grip of ARMs on California real estate first tuesday journal online

The above charts present two real estate market perspectives on adjustable rate mortgage loan (ARM) volume in California. Both charts track ARM loans as a percentage of all mortgages recorded in California (the blue line), called the arms-to-loans (ATL) ratio. The first chart juxtaposes California’s ATL ratio with the fixed rate mortgage (FRM) rate for the Western Census Region (the green line), while the second chart joins the ATL ratio with the combined monthly tri-city average of low-tier home pricing in San Diego, Los Angeles and San Francisco (the red line).
The ATL ratio is a crucial measure of the relationship between ARMs and FRMs, and can be used to determine probable sales volume and price movements for 12 and 24 months forward (respectively). [For a more detailed look at home pricing in California, see the first tuesday Market Chart, California Tiered Home Pricing.]