Chino Hills, CA

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This is the typical sellers lament today. But how do we fix this? Our goal as Real Estate Professionals is to help the average seller reach their ultimate goal. This usually begins with successfully selling the sellers current home. The housing slump is ever-present, so here is what we can do to work together:

1. Price it Right- As your preferred Real Estate Consultant, I am always watching the market for indicators as to what TOP DOLLAR is for your home today. But remember, the TOP DOLLAR of today may vary quite drastically form the top dollar of tomorrow. If your home is not receiving showings, it is priced too high. If it is showing and not receiving offers then there is something about the home that must be addressed. A price that is too high puts off buyers and thus the home will sit on the market longer. Sooner or later, buyers start to sense the urgency for your sale and begin to place offers accordingly.

2. De-clutter Your Home-Presentation is as important as price. This is also a key factor in the current market. Make sure your home is clean, clutter-free and de-personalized. Sure the pictures of your kids are cute, but you're not selling them with the home are you? A buyer must be able to visualize their belongings and themselves in this home. Make all necessary repairs ahead of time also.

3. Offer Concessions-An alternative to lowering your price may be to offer an interest-rate buydown on the buyer's mortgage. This strategy may enable a buyer to afford your home. You can also offer to cover "points" due at closing for the buyers.

Be flexible, don't take offers personally and most importantly let's work together to get it SOLD!

Feel free to contact Keisha Hosea, Real Estate Consultant with questions at (909) 261-6377.

Maintaining low interest rates for an extended period means speculation AND risk-taking. The option adjustable rate mortgage and interest only mortgages were fairly new creations offered to sub-prime borrowers in high volumes. Additionally, we are just now beginning to see how these mortgages perform in periods of economic stress. The low introductory rates made homeownership more affordable thus adjustable rate mortgages increased. The premise was to refinance BEFORE the interest rates reset within two to five years. The PROBLEM? the market softened (whoops) and it has become difficult to refinance. The RESULT? Foreclosures.

Although your home falling into foreclosure will leave a negative mark on your credit report there are steps that you can take to get your credit back on track:

1. Rebuild Good Credit- Six months after the foreclosure appears on your credit report, begin rebuilding your credit by opening new lines of credit such as major credit card and a charge ctard. Remember to pay the bills on time.

2. Take Your Time- Do not apply for a new mortgage for two years so that you will have significant time for your rebuilt credit history to show.

3. Comparison Shop for A Mortgage

These are just a few ways to pick up the pieces and rebuild your credit after foreclosure.