Cassandra Meskin

I have a lot of friends in Yorba Linda! It's very pretty and a great place to live. Laarni is right about the 91 fwy. During rush hour and the side streets when schools start and end can be a bit much. It may be a bit of change from the Long Beach area. Why are you moving and what made you decide Yorba Linda?

East Lake Village is one of my favorites!! It has a great club house on a huge man made lake. The homes that are on the water have little docks and those peddle boats!! Great area to jog, play golf, and tennis!!

Cassandra - Sun Jul 6 2008, 19:10

Hi Mark,
It is possible for the bank to postpone the trustee's sale if they agree to do a short sale...that is when the bank will accept less than what is owed on the loan. However if there is a second loan, and it has default insurance, they, bank number two, would never agree to a short sale, because the insurance would pay them, the full amount of the second loan.
If it is not a Trustee's Sale and is already bank owned, then it is possible. Quite often REO's that are listed with an agent on the mls will get pulled, and all offers on it are put on hold... how long?? Who knows? They will then put it up for auction, with a 5-10% premium to the auctioneers. If it doesn't sell, then they will put it back on the mls. It's quite frustrating to the agents and buyers waiting in limbo.
Always, always, always, use a Realtor. The laws, addendums, and guidelines are changing constantly as the foreclosures increase. Also, a Realtor can provide you with the most recent comps to insure that you are not paying more than what it is worth. Realtors can also negotiate with the bank to pay for some closing costs as well as any other damages the property may have. Just because the banks say “Sold As-Is” doesn’t mean they won’t pay.

Good Luck - Sun Jun 15 2008, 23:19

Hi Steve,

YES, YES, YES, some do!! With so many homes for sale today, it is crucial to have you home in alignment with the market. This means, be sure you are attracting buyers. Have great curb appeal, be priced at "market value", have easy access for showing, and you really should offer top commissions to the agents bringing you buyers. If you take a close look at homes selling and the ones that have been on the market for a long time. You will see that the amount lost of the home sale price is far more than what you would pay for in commissions.

Good luck - Fri Jun 13 2008, 16:25

In general. the banks will take 5 to 10% less than the current list price. Of course there are always exceptions. You can also see the pattern of price reductions during the listing...that is... your buyer's agent can. It's all a waiting game with the bank. They often will have price reductions every two, three or four weeks. Sometimes the listing agent will give you an indication if you are in the ballpark, so always ask. - Fri Jun 13 2008, 16:05

One more thing about the low prices RealtyTrac is showing.... They are only showing one loan that is in default. There may be three or four loans on the property in addtion to any liens on the home. Red Flag!! Homes will never sale for a hundred thousand dollars under maket!! At best 15 to 20% below current market value. Doug is right.. Contact a Realtor!! - Fri Jun 13 2008, 15:39