Real Estate Information Archive

How a short sale works ?

       4  REASONS I AM OPTIMISTIC  ABOUT Real Estate IN 2010

Increasing Sales:

The market absorption is underway. Last year we clocked at 27% sales increase here in the Palm Springs area compared to 2008. Prices don’t have to fall further by a large percentage (as they already have from 2004/2005 high ) for sales to be generated. The window of “best opportunity” is closing.   

 Nothing - good or bad – lasts forever.

sellers Are Starting to Get It! :

Seller are realizing more and more each day that proper pricing at time of listing is their best marketing tool. This is still a buyer’s market. Unless you are the lowest priced, best maintained, best located property on the block it’s not a fair fight. buyers have more cash and time than sellers. Plus even if you are lowest and best --- the marketis still not on your side.

buyers Are Starting to Get It! :

Banks/Lenders are not looking at first offer received. They are imposing waiting periods such as 5 or 10 days +/- , from the day the listing first hits the market to seek multiple offers. buyers are getting the message: You may need your best offer up front – and all cash offers beats financing. The Banks / Lenders are more likely to choose one rather counter back and forth with everyone.

Lenders Are Starting to Get It:

The Process of getting a REO / foreclosure / bank owned or Short Sale to closing is improving. Everyone is simply getting better over time at making these transactions work. It’s still slower than anyone would prefer – but if you do something enough you just have to get better at it.

 Monday, November 9, 2009

By Rob Zwemmer

www.DesertRealEstatePrices.com

Good Monday Morning

84°F | 55°F

Are we moving to a  sellers market?

Many of us are asking where is the housing inventory.

Are we moving to a  sellers market? The answer is ?  not yet!

The government introduced a new program for home owners who are behind in their payments. This program is called MHA  “Make Home Affordable”

Before Home owners can apply for a Short Sale! They have to work with their bank to see if they can modify their exciting mortgage.

If they are not able to modify their mortgage (s) than they can apply to do a short sale.This only apply to primary home owners.

This will reduce the inventory for short sales by 20% - 25% on top of that banks and investors are releasing the foreclosures in smaller numbers as before. I am expecting more foreclosures in the Luxury home market this season.

What else do we see ?

·        Existing home sales rose 28 percent from October 2008.

·        The median home price came in at $195,000 . This is the fourth straigt month has gone up.

·        The highest-priced property out of the 780 sales fetched $2.2 million.

With the Canadian dollar holding strong , low interest rates and great tax incentives for first time homebuyers, there has not been a better time to buy.

1 Canadian dollar = 0.940999 U.S. dollars

There are still great deals to be made! Don’t miss the opportunity this time !

http://www.DesertBankOwnedHomes.com

E-mail me with any questions you might have

Have An Awesome Week!

Rob Zwemmer

AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertrealestateprices.com/Morning-coffee

PS:

if you know of someone who would appreciate the level of service I provide, please e-mail me with their name and number, and I'll be happy to follow up and take great care of them.