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Home Selling in Solano County : Real Estate Advice

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  • Home Buying9
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Activity 17
Wed Apr 13, 2011
Laura Coffey answered:
I had a seller who bought a home in New Jersey due to job relocation. I was able to successfully close his home as a short sale here in California. Choose an experienced agent, it makes a difference. ... more
0 votes 5 answers Share Flag
Wed Feb 9, 2011
John Souerbry answered:
Depends on location. 94534 is generally depressed price-wise (I live near the Gold Hill exit off 680). There are a lot of homes on the market with reasonably sized front and rear yards in the $150k-$250k range.
Lacking "features" (yards...) will affect resale.
... more
0 votes 3 answers Share Flag
Thu May 22, 2014
Kamal Randhawa answered:
Hello Kiml...

while no one has a magic ball to make such predictions, looking at the statistics alone, prices may fall for another 6 months to a year.
0 votes 2 answers Share Flag
Tue Jan 15, 2013
Nicole Monary answered:
I can't give you an exact answer for how ofter Trulia updates the solds on their website. As an agent, I have access to that information on a daily basis. Here are all the properties that have sold in Benicia since September 1st. and their selling price.

20913426 WEST K St Benicia, 825,000
21005458 Orchid Ct Benicia, CA 94510 411,000
21009016 Shirley Dr Benicia, CA 94510 150,000
21013840 W K St Benicia, CA 94510 874,500
21015372 Mountview Ter Benicia, CA 94510 540,000
21016512 Snapdragon Dr Benicia, CA 94510 410,000
21017656 Del Centro Benicia, CA 94510 141,500
21018343 Devonshire Dr Benicia, CA 94510 251,000
21019388 Dartmouth Pl Benicia, CA 94510 349,500
21021006 E 7th St Benicia, CA 94510 170,007
21019967 Devonshire Dr Benicia, CA 94510 250,000
21020526 Charles Ct Benicia, CA 94510 569,000
21022151 Lansing Cir Benicia, CA 94510 580,000
21022753 McAllister Dr Benicia, CA 94510 605,000
21023414 Southampton Rd #11 51,010

If you are interested in knowing more about the trends in the Benicia market as well as getting updates on new listings or solds, please contact me at 707-337-2249. Or my website: soldbynicole.com
... more
0 votes 8 answers Share Flag
Tue Sep 7, 2010
Matthew Goulden answered:
Hi Camryn,

The price you can get for your home is determined by the market and what the buyer is willing to pay, you may not get all your money back. Also when a buyer does come along they will most likely get an appraisal, especially if they need a loan. The market is lower than 2 years ago so you will probably not achieve a price which you had previously turned down. If you need that price then you will have to ride the market until it gets back.

To get it sold you will have to market it so that potential buyers and agents can see it and at a competitive price in your market, the longer its on the market you will historically get less in the end. Selling by yourself is possible but agents do a lot more than just put up a sign and then get paid.
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0 votes 2 answers Share Flag
Mon Feb 4, 2013
stop foreclosure answered:
TELL YOUR BANK YOU HAVE A BUYER FOR YOUR HOME.

IF YOU DONT HAVE A BUYER CONTACT ME 707-319-9222

I M INTERESTED IN BUYING SHORT SALES IN NORTHERN CALIFORNIA.
ESPECAILLY WHEN I CAN A HOMEOWNER TO AVOID THE FORECLOSURE ON THEIR CREDIT.

ME HABLA
SPEAK SPANISH 707-319-9222
WWW.STOPMYFORECLOSUREONLINE.COM
... more
0 votes 6 answers Share Flag
Thu Aug 15, 2013
Kathy Weber answered:
Argemy,

First recommendation would be to consult with your CPA. Find out if it's possible to pursue a "Short Sale". They will be able to tell of you any tax ramification's you may encounter if pursued.

If your CPA feel s that this process is worth pursuing, contact a reputable real estate agent in your area to get started with the process. It can take months to get an approval on the S/S process so it's best to start early.

Best of luck!
... more
0 votes 7 answers Share Flag
Tue Feb 8, 2011
Sweet86baby answered:
Thu Oct 3, 2013
Patrick Thies answered:
If you stop making payments, the bank can start foreclosure proceedings with as little as 3 missed payments. There are requirements for a short sale. The main condition is being in a hardship position. There are other factors as well. Talk to your bank and see if anything can be worked out. ... more
0 votes 12 answers Share Flag
Tue Aug 25, 2009
Kelly A. Mitchell answered:
First I need to do a disclosure. I am not a CPA, I am not a Tax Attorney and I am not a lender. That said, I just sold a home for clients who were pondering the same outcome. Should they do a short sale and try to negotiate the balance owed with the bank or should they just throw in the towel and stay in the house as long as possible.
As I understand it, no matter what you do, foreclosure or short sale, you will still owe the bank money. The difference between the two is on short sale, you have the best chance at getting a better price for the home reducing your overhead or balance owed the bank. You also have a chance to negotiate the balance owed to possibly whittle it down a bit. With a foreclosure there are several not good outcomes;
1) They can and will sue you for the balance owed, plus legal costs and you get a huge FORECLOSURE on your credit report permanently damaging your credit. 2) When the bank sells a house they want to do it quickly and get it over with. They do not necessarily hire the best negotiators to get you the best possible price, they just want it sold. You are still left holding the bag.

I need to close with... you need to get sound legal and financial advice from professionals in those fields. I have given you the outcome of a situation I was directly involved in.
... more
0 votes 4 answers Share Flag
Wed Aug 5, 2009
Margaret Amador answered:
doing a short sale means you must demonstrate hardship, e.g. a current financial statement showing all your income, all your expenses, assets and liabilities. Then the lenders will want you to prove your hardship by getting copies of paystubs, tax returns, bank statements. You also need to write what is called a hardship letter. That is a paragraph or two detailing what led up to to this predicament.e.g. loss of job, illness, resetting of interest rate etc.

In my recent experience second lien holders will release the lien for say 5% to 10% but reserve the right to determine a deficiency after the short sale. That makes the lien an unsecured note after the short sale.

This advice assumes you are talking about your own personal residence, not an investment. You won't have a tax obligation from the forgiven debt on your personal residence which you might have in a foreclosure or investment property. Nevertheless it's always a good idea to run your situation by an attorney specializing in these matters as there are always new ideas floating around.
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0 votes 3 answers Share Flag
Wed Aug 5, 2009
Jim Cheney answered:
As- I'd be happy to help you find a real estate agent in Vallejo. But, if you want to do the research yourself, I'd go to Realtor.com and use their "find an agent" tool. Once you find a few agents, whose profile look attractive, you can do an internet search to see which have web sites. An agent without a web site, or "web presence" is not worth wasting your time with. YOUR HOME NEEDS TO BE ON THE INTERNET. If they have a professional web site invite them over for an interview.

At your interview, ask the following for each agent:
1) Are you a Realtor? (Realtors are members of the Natl. Assn of Realtors, not all agents are Realtors)

2) Do you have your license with you? All realtors need to be able to present their DRE issued license. If they do not you might be dealing with someone who has a loose interpretation of the rules. When they do give it to you, look at it and make sure it has not expired. Write the number down and to www.DRE.CA.gov and check their lic. status to make sure it has not been revoked and suspended.

3) How long have you been a "licensed sales associate (or broker)". Some agents have developed cute little ways of getting out of this question like "Oh, it seems like forever" or "I've been in sales for 20 years", or "I sold my first house 15 years ago" (well, they mean their own house, and another agent sold it , not them).

4) Do you live in the neighborhood? If they don't, are they going to be able to show your home when somebody calls them from the sign in your yard. If they aren't close by, a prospective buyer may leave... house unseen or call another agent who might show them other homes.

5) Do you represent more buyers or more sellers? An agent who likes buyers may only want your listing to attract more buyers whom he will then take out and show other homes. 90% of my business is representing sellers. When a buyer calls me, I want them to buy YOUR home.

6) Do you own your own home? Some agents don't. Why? I don't know. Maybe they aren't successful enough to buy a home. Do you want an agent helping you through the stresses of buying a home when he/she has never bought one himself? I don't want to buy a car from a car dealer who's never owned a car before, or have my web page designed by somebody who does not own a computer.

7) Can you show me (on paper or on the computer) all the homes you've bought or sold for clients during the past 12 months? Has this agent even sold anything this year? How many are Short Sales?

8) Can you show me one of your listings right now? See if there's a sign out front. Is the box out of fliers? Are the flier’s black and white or color. Are his business cards inside where an agent can grab one and call about the listing? Did he tell the owner how to make the home look better or does the house look like crap?

Go back and ask the homeowner if they are happy with this agent.

9) Ask to see examples of his marketing material. If he/she did not bring any, they are unprepared and should be penalized for such. When I go to a listing interview, I'm prepared to show you everything I have. I even bring my computer in case you don't have one so I can show you how I market my homes on the internet.


Good luck As!
... more
0 votes 6 answers Share Flag
Wed Mar 4, 2009
The Medford Team answered:
Mike:

Sorry to hear about your situation - here is a post that may be helpful:

http://www.trulia.com/blog/carl_medford/2009/01/loan_modification_progra

You also have the options of a short sale, however, with two properties, it becomes very complicated and many banks won't cooperate. Read the blog - let me know if you have any questions. ... more
0 votes 1 answer Share Flag
Fri Jun 25, 2010
David answered:
As I understand it, if it not agreed upon in writing that you will not pay the deficient amount, you will be 1099 on that amount of the loss. Which totally sucks!!! Unless Big Brother steps in and does something for the 100's of thousands of people who are in this predicament. The banks dont loose because they right it off, The Govt doesnt looks because of the taxes, guess who looses.....

So write your congressman and tell em to do something and pass a bill to diminish or forgive the deficient balance. For now... the consumer is on the hook, as always...

I have clients, family members, collegues all asking the same questions...

If possible, negotiate the bank to forgive the dfference.. You dont get what you dont ask for but its highly unlikley...

We have come up with some solid solutions.. drop me an email if you need more infor..This board will provide you with a smorgasborg of assistance.

Good Luck..
... more
0 votes 4 answers Share Flag
Fri Jan 24, 2014
Eric Bryant answered:
Just give me a call or email, I have 40 Agents in that market for you to choose from. Just tell me a litlle about the type of Agent you would work best with, and I will introduce you. best of Luck! the Coach 209-758-3113 or thecoach@prucalifornia.com ... more
0 votes 9 answers Share Flag
Mon Jun 9, 2008
Mary Storer-Sanborn answered:
Hello Mark! Your question is best answered by an Attorney who specializes in Probate, like Attorney Jim Storer 203-270-0772 or Anne Ragusa in Newtown, CT, and until the property has been properly probated by the Probate Court, it can slow things down. I would encourage you to call them for specific answers-keep in mind an attorney would also handle the real estate contract in CT and guide you through this process.

All the best!
Mary
... more
0 votes 1 answer Share Flag
Thu Feb 14, 2008
Kurt Thomas answered:
I reccomend speaking to a Realtor. They have the tools and experiance to give you a marketable sales price.
Dont expect them to just give away free information though. It takes time and it costs us money to access the information required to place a "value" of a home. You may just want to get it appraised? ... more
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