It's a great time to buy, especially if you're a first time buyer and can qualify to get financing. if you're serious about buying real estate, hire a Realtor to work for you.

As a buyer your Realtor will guide you through the process and answer all your questions about real estate, the benefits you get by buying real estate and the best solution in financing your property.

There are thousands of real estate professionals to choose from so what criteria should you use to choose just one? That is your decision, isn't it?

How much value would you get by choosing a Realtor who is looking out for you is the key, isn't it, because the more value in benefits you receive from your Realtor won't cost you anymore, will it?

Why should you consider hiring me or another Realtor is easy, simply call me or another Realtor and compare the values and benefits you'll recieve as a client.

Dear Scbaby,
To answer your last question first, is it a good time to buy? It all depends on your personal situation. If you are currently renting, have you seen a rent vs. buy disclosure? This will help you break down the cost and credits of owning. If you're living with family and not paying rent, make a good income, pay a lot in income taxes, and you aren't planning on selling for at 5-7years? Then I would say it makes sense to buy now.

Short sales are the most difficult transactions for many buyers because of the length of time it takes for these transactions. One way around this is that you can look for properties that have already been approved and they have lost the buyer. This can shorten the time frame by 2-4 months. The catch on these is that you need to be ready to go with your financing. These tend to close escrow in 30 days or less.

In southern OC the REO properties tend to go really quickly, with multiple offers, so this may be a difficult market for you to get into. It depends on your financing on these as well.

Don't rule out traditional sellers. Have your agent find you a seller!

Hope this helps,
Mary Morris
Weichert Realtors Gold Coast
949.202.6306

Short Sales are not Short, and they are not for the faint of heart.

The Bank holds all the marbles. It is not uncommon for a Buyer and a Seller to be ready to close, thinking that the deal is done, and the Bank withdraws or delays their required approval.

Make sure you are working with a Real Estate Agent that is experienced in Short Sales. And make certain that the Agent knows the "Point Person" or "Decision Maker" at the Bank's Loss Mitigation Department.

If there are second or third mortgages... well, we won't go there.

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Look at Short Sales, but per David Bibbee's suggestion, consider REOs also.
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Best wishes,
Fred Griffin

Patrick... I show shortsales most of the time and have found them to be a real pain because of waiting on the bank and taking forever. I have had much better luck with REO's (Real Estate Owned) properties. These are mostly bank owned, easier, and quicker to get an answer. But still, you must be patient and make sure you are pre- approved for the loan.

David Bibbee - Realtor
First Choice Real Estate Service
Covina, CA
Email: dabibbee@aol.com

There are some great deals out there with short sales. You have to be patient though they can take anywhere from 3 to 6 months to complete. You also have to be aggressive with your offers. CA deals seem to be getting into multiple offers with short sales.