About Orange County, CA

A Time to Give Thanks and a Time to Give Back

Fullerton California:

Food Drive,

Saturday 21, 2009 from 9:30 a.m. to 4:00 p.m.

The REALTORS of RE/MAX of North Orange County, led by Cantree Chairperson, Tina Maraj will be conducting their 20^thAnnual Holiday CanTree Food Drive This Staurday November 21^st at Ralphs Grocery Store 1121 N Harbor Blvd. Fullerton. Please consider doing your Thanksgiving shopping between the hours of 9:30 a.m. and 4:00 p.m. and make your donation when you are leaving the store.

Holiday Cantree is a nationwide project sponsored by the Salvation Army and conducted by REALTORS across the nation. Through the years we have collected literally TONS of FOOD for our local Fullerton Interfaith Emergency Services, says Maraj The mission of this organization is to assists through a faith-based community effort of prevention and support services, to build self-sufficiency and end hunger and homelessness for families and individuals in need.

You may drop off donations at RE/MAX North Orange County located at 1441 Brea Blvd. Fullerton. 92835 (Across from Lyon Field) or contact Tina Maraj for pickup at 714 403-7901

Thank You in Advance, and Best Wishes for a Wonderful Holiday Season

www.TinaMaraj.com

Wachovia Walks on Water?!

Well, you might think so after seeing what they do with their Orange County short sales.

Today, I spoke with a client about selling their home as a short sale. During our discussion, I learned that Wachovia is their lender. This is actually great news for a short sale seller in Orange County.

WHY?

This is great news because Wachovia has a great new program for its Orange County short sales.

• Local Wachovia representatives will meet with the seller and their agent to gather information.
• Wachovia will quickly order an appraisal or broker price opinion (BPO).
• Wachovia will have a response to a short sale request in 7 to 10 days.
• Wachovia will provide a "net" proceeds amount without need for an offer.

Why is this is a big deal? There are several reasons.

• Most lenders won't consider a short sale package until a purchase offer is received.
• It can take four months or more for some lenders to respond to an offer which can result in frustrated buyers, sellers and agents.
• This gives sellers closure quickly.

For more information on short sales, see:

Short Sales and Foreclosures in Orange County, CA

Bankruptcy - How Does it Effect Short Sales and Loan Modifications?

Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!

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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.

For more information, please visit Newport Beach real estate. For more information on Newport Beach homes or the value of a particular home please visit Newport Beach home values

Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.

Copyright © 2009 by Christine Donovan. All rights reserved. Wachovia Walks on Water?

I receive calls all the time from homeowners that try to handle their loan modifications themselves, and are denied by their bank. I hear the frustration in their voice as their bank would not tell them why they were denied, or put them into a trial loan modification and then denied them after the trial modification period was over.

I must first say that if you as a homeowner feel like you have the time, energy and know how, then why not try. The worse thing that can happen is that you are denied. Then maybe try again, or if you feel too beat up, then hire a professional.

The purpose of me writing this is not because I am pushing a professional to handle the modification, but to hopefully shed some light on why homeowners are being denied when they try this on their own. Again, I am not saying everyone gets denied, but the majority of homeowners do. The tough decision to make up front is, as a homeowner, how will I know if I am going to be successful or not. I think that is the million dollar question, and unfortunately you are just not going to know and the main reason is because you don't have the knowledge or experience.

Saying that, I do understand why someone wants to try and handle the process themselves. I think the main factor is the money they have to spend out of pocket for a professional to handle the negotiations is too costly. Especially when paying the mortgage is already challenging or they are behind in payments. For one, a professional that handles loan work outs is for the most part less expensive then the costs to refinance a home mortgage, but most roll refinance costs into the loan and do not pay out of pocket.

I also think that homeowners that are about to lose their homes or are behind in payments are playing with fire, if they think they can handle their bank in these situations. These situations are usually a ticking bomb and time is of the essence especially if you do not understand the foreclosure laws of your state. You may be doing more harm then good.

I do find that homeowners just don't understand the terms of their trial loan modification, the one they just negotiated themselves and just signed. There is a tiny clause in paperwork that basically says that the trial modification is only temporary while the bank evaluates your qualifications. So, the homeowner at the time of signing the trial modification papers does not realize the bank has not even evaluated their financial situation. They have as of yet promised nothing but a trial period.

I think the trial modification in essence makes the homeowner feel a sense of security in that the permanent modification is around the corner. This situation is different when an experienced Attorney handles the modification from beginning to end. In short, it is because these Attorneys have the experience and knows for the most part what will and won't be accepted by the banks. They also know how to handle the paperwork and the process.

In summary, most homeowners are denied because they do not know how to complete the paperwork, or how to handle the process, and even understand many of the terms and what they mean. This is especially true when it comes to trial loan modification paperwork, what a late payments means, how your credit is impacted, and foreclosure laws, just to name a few.

If you do feel helpless and taken advantage of by your bank and need a professional Attorney, we can be contacted at www.CallALMS.com

China Cove is a highly sought after community in Corona del Mar which is located below Ocean Boulevard. There is no public parking in this exclusive area of China Cove.

China Cove is located at the entrance to Newport Harbor, and features approximately 37 homes that are located with picturesque views of Newport Harbor and Catalina Island. Enjoy the colorful sunsets over Catalina Island. China Cove residents enjoy yachting activity in Newport Harbor, as well as the beach. China Cove is an exclusive area, that is below Ocean Boulevard, near The Village in Corona del Mar.

Yesterday on Broker Preview I previewed beautiful homes. These homes are built either on the water, or to maximize their views.

Below is a view looking across the Harbor the the Newport Beach Peninsula Point and the homes located right on the water there.

2615 Way Lane- Corona del Mar, CA – Priced at $2,440,000

2623 Cove Street - Corona del Mar, CA – Priced at $4,995,000

2717 Shell Street- Corona del Mar, CA – Priced at $6,700,000

This home is located right at the water's edge, and is absolutely beautiful.

2727 Shell Street - Corona del Mar, CA – Priced at $10,500,000

There currently is one pending:

2733 Shell Street – Corona del Mar, CA – Priced at $1,995,000

The most recent sale in China Cove in Corona del Mar was at:

2615 Way Lane, Corona del Mar, CA – Sold for $2,200,000 in February 2008.

If I can answer any questions about Corona del Mar Real Estate, China Cove, Homes for Sale in Corona del Mar, or Newport Beach Real Estate, please contact me.

Phone or Text: 949.280.0681
Email: Spaxson@roadrunner.com

Originally posted at Newport Beach Real Estate Cafe

Disclaimer: Information contained herein are the views and opinions of Sharon Paxson. This information may be based on information from multiple sources, and may be subject to change without notice. This information is not guaranteed, have warranties either express or implied, may be time sensitive, and may or may not be deemed reliable at the time of researching this article. Information regarding property for sale and market reports is obtained from the SoCalMLS.

Competition for bank owned and short sale properties here in the South Orange County area has been fierce and both my buyers and myself have been extremely frustrated trying to get offers accepted with the volume of offers being submitted. I have several buyers that have been racing against the clock to take advantage of the First Time Homebuyer Credit of up to $8,000 which was ending on November 30th. Good news is that the credit has been extended until the end of April 2010. If anyone needs info on this credit feel free to contact me - I'd be happy to forward the information to you. Interest rates are low and prices are down...it's a great time to buy!