Tracy, CA

Thank you Dell ‘Osso Farms for providing such a great experience right here near home >

This shouldn't be news, however we have not had 17 new listings come on the market for Tracy or Mountain House on the same day for over 4 months.

Most interesting is that of the 17 over half are REO/Foreclosure properties, the other half are Short Sale and 3 were put on the market and IMMEDIATELY went to "temporary off market". Interesting time in the Real Estate Industry.

Want to see the homes that came on the market today, then click this link.

It's hard to believe it is only Monday. When you work short sales as much as I do, sometimes Monday feels like Friday. Today was one of those days. I've been working short sales in Tracy, CA for 5 years these are the first 3 in 18 months that we have not gotten accepted YET!

If anyone can help - let me know.

Suntrust - 16 month short sale, we were told auction was postponed, agent in town called today to say it has been assigned to her. I've contacted SunTrust to be told they may be able to rescind the transaction. So we wait a while longer. Bottom line-- please sell to the buyer - not mine-- who has been waiting 8 months. BEST -- let me be the REO agent.

Chase - approval given for $250,000 purchase price, negotiator - poof - GONE. Please resubmit ALL documents. 3 months later approval for $290,000. It won't appraise for $290,000 and what happened to the approval we already had?

Wells Fargo - did you know that "relocation" is NOT considered a hardship? Yes, that is true according to 3rd level manager at Wells Fargo. So my seller has 2 choices.... keep the house and lose the job OR lose the house and KEEP the job. Which do you choose?

That's my week - ok - My MONDAY!

Looking forward to San Francisco Rain Camp.

You have an offer that is CASH AS IS for REO Property in Tracy, CA.....

Buyer chooses to do inspections. Inspections are completed.......

Handyman says $8000 in repairs necessary, this includes CLEANING the gutters.....

Your buyer wants $6000 credit for repairs..... Ms Realtor, would you please submit my buyers Request for Repairs to your seller, yes I KNOW it is a bank, yes I KNOW it stated AS IS, however I want you to ask the Asset Manager anyway.

Surprise, surprise -- Asset Manager says "YES, to $6,000 credit, reduction from purchase price."

WHY? Net is still more than bank appraisal, a cash buyer is still better than starting all over again.

Hmmm..... point proven There is No Harm in Asking

This question - Is it Immoral or lacking in integrity to STOP paying your mortgage?

This question has been asked over and over again. I'm not here to give an answer. I do know that in my communities of Tracy and Mountain House, CA the real estate market has taken a 50% dive in the past 3 years.

Numerous home owners have asked this question.....

Here are a couple of things to consider....

1) The homeowner didn't borrow money from grandma, friends and then say "Sorry not paying you and you can't have anything of mine."

2) This was a bilateral contract -- the BANK agreed to loan the HOMEOWNER money, using the HOME as collateral. What does that mean? It means - as long as the homeowner pays the bank they get to keep their house. If the homeowner STOPS paying the mortgage the bank get the house. (aka Foreclosure)

We can modify that agreement via a Loan Mod or a SHORT SALE. Either of these options modify the agreement, as the homeowner is trying to renegotiate the original agreement.

I'm not going to pass judgement, I do know that there are tons of homeowners in Tracy and Mountain House contemplating a Short Sale, Loan Mod, or Foreclosure, that desperately need some advise, compassion and direction. The "fear factor" for them is at an all time high.

I'd love to hear your thoughts on this -- weigh in. ---