Joyce Barnett ~ Corona ~ Riverside ~ Norco ~ Short Sales

Corona Riverside Fixer Upper Homes and Bank Repo Homes are definetly priced below market value. But do Buyers really realize what they are getting themselves into on these properties?

Me speaking from experience when I purchased my first home it was a fixer upper. And because it was my first home I didnt realize how much everything costs like new carpeting, tile, even paint. Nobody wants a moneypit but that is what some of these homes are. You dont realize that all of this adds up and unless you have an extra, 15K or more sitting in a bank account then these homes are not for you.

Corona Riverside Fixer Upper Homes and Bank Repo Homes that need alot of work really can drain your bank account. And is it worth it? With the lending institutions strict guildliness on 2nd mortgages and refinancing it is getting harder and harder to get a loan for extra money for the costly fix up on these properties.

Corona Riverside Fixer Upper Homes and Bank Repo Homes can qualify for renovation financing which is a good loan for buyers that dont have extra money to fix these homes up. How this works is the fix up allowance is actually worked in the purchase of the home that way the buyer isnt draining and going broke fixing up there Corona Riverside Fixer Upper Home and Bank Repo Home. Contact me to get more information on how to purchase Homes with this Rennovation Financing.

I just want to warn homesellers who have a vacant home up for sale to make sure you check on your home and post a sign in the window of the home that states this home is not for rent or lease. What is happening is that there are preditors out there trying to rent vacant homes out and collect rent on these homes. Usually they are homes that are up for sale. It is a scam and they advertise these homes for rent when they are not the owner and have no business doing so. This could result in a big loss for the people that think they are renting a home from a legitimate landlord and later find out they gave a deposit and rent to a stranger or criminal. And a big loss for the real homeowner if there home soon becomes occupied by a family that was scammed. Joyce Barnett, Remax Partners (951) 707-6150

The banks seem to be approving short sales more now then 3 years ago. The newest thing out now on a short sale is a COOPERATIVE SHORT SALE. This is a short sale where the bank actually preaproves the price before the real estate agent puts the home on the market and the homeowner does not have to give the agent all the long grueling paperwork like an original short sale. And the homeowner gets a cooperative short sale allowance up to $3,000.00 from the bank at close of escrow. The homeowner can live in the home until close of escrow. This is a good deal for homeowners because they then have some money in there pocket for moving expenses. The homeowner does not have to live in the home either it can be vacant. Finally the banks are starting to get smart with these short sales they are realizing that alot of the homeowners need a little help financialy to move out. This type of short sale is much easier and less stressful for everyone involved.