San Jose Short Sale Agent

Closes HAFA Short Sale with Bank of America on 1-27-2012

Short Sale time frames will most definitely vary depending on the number of loans and who services the loans. Below is an outline of the time frame for closing a short sale. This property qualified for, and was approved as a HAFA short sale. The property is located in Milpitas, California. San Jose short sale agent helps another homeowner avoid foreclosure with a Bank of America HAFA short sale.

• List Date: 8/19/2011
• List Price: $369,000
• Price Reduced: $358,888 on 9/3/2011
• Sale Date: 9/15/2011
• Number of Offers: 3
• Days on Market: 27
• Price Increase 12/2/2011: $370,800 – mandated by AMS Servicing policy
• Conditional Lender Approval 1^st Lien with Bank of America: 12/22/2011
• Lender Approval 2^nd Lien with Wells Fargo: 1/6/2012
• Final HAFA Approval with Bank of America: 1/23/2012
• Sales Price: $358,888
• Close of Escrow: 1/27/2012
• List to Close: > 5.0 months
• HAFA Incentive to Borrower: $3,000.00
• Bank of America HAFA short sale servicer: AMS-Servicing

Working with AMS Servicing was extremely challenging. Without Bank of America escalation support this file would not be closed today.

A proven strategy for a successful short sale is to require the purchase agreement time line to begin the day following receipt of the the first lien approval. As shown on the short sale time frame above, the file was ready to be closed by the time the final approval letter was issued. The file was closed within 3 days of receiving the final approval.

You can save your home from foreclosure. Get the help you need now. Don't wait until you run out of time. Call your local San Jose short sale agent who is trained, certified, experienced, with a track record of helping homeowners avoid foreclosure.

Call 1-800-972-1822 today!

It's the beginning of the year so time for the round-up of last year's distressed property sales in Milpitas. So here's what happened:

Single family and condo townhomes :

Total sales: 513

Short Sales: 150

REO: 112

Distressed sales as a percentage of total sales: 51.1%

Compare to 2010

Total sales: 535

Short Sales: 131

REO: 140

Distressed sales as a percentage of total sales: 50.1%

My conclusion:

The percentage of distressed properties in Milpitas is virtually the same between 2011 and 2010. Also a 50% distressed property sale percentage is absolutely large enough to affect values. What is interesting is the the number of short sales in 2011 went up as the number of REOs went down from 2010 as banks have been more wiiling to approve short sales.

If you have any questions about short sales or bank owned homes please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

Milpitas CA. Linear Technology Corp's High Voltage Surge Stopper

Linear Technology Corp, a company that designs, manufactures and markets a line of standard high performance integrated circuits for telecommunications, notebook and desktops, automotive electronics, military & space stations, networking products, process control, video/multimedia and factory automation recently introduced the LT4363, an over voltage protection controller that provides overvoltage and overcurrent protection to high- availability electronic systems.

The LT4363 controller builds on Linear's popular first-generation LT4356 device by extending overvoltage protection capabilities beyond 100V without sacrificing overcurrent protection. The LTC4363 reacts quickly to overcurrent and short-circuit faults at the load, limiting the current to a safe value set by a sense resistor.

The LT4363 is available in two options: the LT4363-1 latches off after a fault, whereas
the LT4363-2 will retry after a long cool-down period. Specified over the full commercial and industrial temperature ranges, the LT4363 is offered in 12-pin DFN (4mm x 3mm) and MSOP packages, and a 16-pin SO package with enhanced high-voltage pin spacing. Pricing begins at
$2.48 each for 1,000-piece quantities and the device is now available in production quantities. For more information, visit www.linear.com/product/LT4363

Milpitas CA. Linear Technology Corp's High Voltage Surge Stopper.

GO MILPITAS!

If you are in the process of buying or selling your home, here are some resources:

FREE HOME SEARCH

FREE HOME EVALUATION

FREE FORECLOSURE LIST

December’s Season of Celebrations & Sharing – The Family Giving Tree

Drop off donations at the drop off warehouse located at the Milpitas Town Center.

749 E. Calaveras Blvd. Milpitas, CA 95035

Donate online: Help a child living in poverty experience a magical moment at Christmas!

Milpitas Single Family homes

Active Short Sale Listings: 23

Active Bank Owned Homes: 9

Pending Short Sale Homes: 49

Pending Bank Owned Homes: 11

Sold Short Sale Homes: Last 6 months 23

Sold Bank Owned Homes: 19

Milpitas Condo Townhomes

Active Short Sale Listings: 12

Active Bank Owned Condos: 4

Pending Short Sale Condos/Townhomes: 43

Pending Bank Owned Condos/Townhomes: 4

Sold Short Sale Condos/Townhomes: 19

Sold Bank Owned Condos/Townhomes 26

Unlike San Jose, where short sales far outnumber bank owned transactions, the numbers are much closer for short sales and bank owned homes in Milpitas. There are many more pending short sale listings than bank owned, but short sales take so much longer to close that number is not surprising.

If you have any questions about short sales or foreclosures in Milpitas please feel free to contact me.

Marcy Moyer C.D.P.E.

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194