Sherry Kotvis, MS-Home Resolution Expert

Like most full-time active Realtors, I constantly watch the market and the numbers so I can consistently gauge my business forecast for the upcoming year.

All indicators show that the market is coming back nationally.

*Pending Sales are up and highest ever in 19 months
*October 2011 Pending’s were up 10.4%
*November 2011 Pending’s up 7.3%
*Pending Sales are highest since Home Buyer Credit

The consistent feedback I hear from Realtors throughout the country is that the Market is once again Red Hot!
There are more buyers looking for homes than ever before and 2012 is shaping up to be a banner year.

In our particular local market, properties that go on the market and quickly go into pending or back up status.

This is great news for sellers! If you are a seller that has been on the fence, now is a great time to list your home with a local professional. If you reside in the Riverside or San Bernardino Counties and would like a complimentary market analysis please contact me for a consultation. I will explain our local market conditions and assist you in getting your home ready to sell. I can be reached at 951-315-3201 or you can email me. team@sherrykhomes.com

Menifee, CA I recently met a client that inquired about a short sale. My process of pre qualifying a candidate for a short sale is to be certain the borrower has gone through the necessary steps to save their home.

I was really surprised to hear there are still company's out there that continue to charge upfront fees in hopes of providing a solution.

My message to the public is PLEASE...do not pay one thin dime to any company out there trying to collect fees for getting you a loan modification or short sale. There are government regulations that restrict this practice.

One great source I have found that provides help is Neighborhood Assistance Corporation of America (NACA) This is a non profit advocacy providing HUD Certified Counseling to families in need. For more information on NACA please visit their website at NACA.com. They travel around the country on their 'Save The Dream Tour' and help people lower their monthly mortgage payments.

Harveston Short Sales

Temecula CA – Short Sales are a situation that can often cause emotional turmoil as well as financial. It’s amazing how quick people are to judge others but times may be changing when it comes to today’s financial situations. We’re all feeling tough times. We all have seen local businesses close, people we know losing jobs they’ve had for years, and seen how the cost of living increases while the income we’re making doesn’t seem to be keeping the same pace.

Most of us don’t speak “legal-eze” and personally I’m thankful that most of us also don’t operate like some lenders. It’s hard to understand why a lender will jump at doing a Short Sale on a home as opposed to working with someone who’s done everything in their power to make right the situation they’ve ended up in, being overdue with the lender.

Many lenders somehow find it more logical to do a Short Sale than to work with the original owner and re-finance or negotiate terms that make it more reasonable for the owner to make regular payments again. Placing the overdue amounts at the end of your loan and putting you back on track seems more logical to you and I than taking a Short Sale. But then again, when does our logic seem to match the logic of most lenders?

What we have noticed though is that while we are all together in this financial mess of our economy we also seem to be more sympathetic and understanding about the situations of others. Friends and neighbors aren’t so quick to judge those who suddenly have a “Foreclosure” or “Short Sale” sign on their front lawn. People have become more sympathetic to those in their community who have been hit hard by hard times. There is no longer a scarlet letter worn by those who have hit hard times and find themselves having to give up their home via a Short Sale.

There is no shame in Short Sales. In most cases the home owners have approached their lender in every possible way, using every possible means to keep their home. Most lenders turn down every option other than literally snapping your fingers and coming up with all of the money owed instantly, no matter what the situation may be. These lenders should bear all of the shame for creating situations that don’t allow for a good, honest homeowner to maintain their dream.

A Short Sale is an option that is taken to help keep your dignity, sell your home, and have a fresh start. Many take this choice hoping to do less harm to their credit rating. Many times friends and neighbors will not only understand your situation but will respect that you’ve remained dignified through a terrible crisis in your life. Each of us understands that we are almost all only a paycheck away from being on the streets in today’s economy.

As we work together to make things better, one of the things we notice is that there truly is a lot less judging and finger pointing going on in life and a whole lot more understanding and help. The fingers are pointing to the lenders now instead.

We are here to help you understand and get through making the choices you need to make regarding a Short Sale of your home. We have the knowledge and training behind us to make your transition as smooth as possible. Most of all we will treat you with respect and help you not only make the experience understandable, but bearable. We can give you information that will give you hope and show you that the future may have a better picture ahead and even another home some day with our help. There is no shame in taking the option of a Short Sale and we are here to show you.

Harveston Short Sales

Harveston Community, Temecula CA– The right agent can make the difference between success and failure on your short sale. You risk losing a lot when your agent doesn’t understand short sales. The short sale can be denied and the home foreclosed. Then you have to wait five years to buy another house. Or, the lender may ask you to repay the loss.

Here are the questions I would ask an agent before hiring an agent:

Question #1: How many short sales have you listed and sold in the past 6 months? This is important because you want an agent who is up to date on all the potential issues. They should understand the short sale process from start to finish.

Question #2: In the past, what lenders have you negotiated short sales with? It is helpful when the agent you are interviewing has already done short sales with your lender. You know that they will already be familiar with your lender’s policies and procedures.

At a minimum, you should look for an agent with experience with Bank of America, Wells Fargo, and Chase. These are the most common short sale lenders.

Question #3: What can you tell me about my lender and how they work? A knowledgeable and experienced agent will usually know the specifics about your lender. They will be able to tell you what to expect in the process. They will know upfront if the lender is likely to ask for a promissory note or deficiency.

Question #4: What is your track record for success and failure on short sales you have handled in the past? </strong> Look at the agent’s track record. If they are hard working and diligent, then they will have a strong track record. That is good news for you.

Harveston Community is located in the heart of Temecula and is a masterplanned community. There is something for everyone with about 1587 single family homes, condos, apartments and senior homes. The community is surrounded by a 17 acre public park consisting of walking and jogging trails, a boat dock, paddle boats, a sports park and lake front amphitheatre.

There are currently 14 homes available in this highly sought out community. Prices range from $175K for a 1530 square foot, 2 bedroom 3 bath to $425K for a 2811 single story home with pool.

If you are interested in purchasing a home in Harveston, please give me a call. I can help!