New Listings Available in Santa Clarita, Ca.
Currently there are 34 new listings in Santa Clarita that have been on the market 5 days or less. All 34 homes are in MLS as detached single family homes ranging in price from $219,000 - $999,000. The one thing that I find fascinating is that less than 10 are short sales. In our Santa Clarita world of real estate, inventory is very low and short sales are usually the norm. It is a pleasant surprise to see more regular sales hitting the market. Maybe Santa Clarita residents want to take advantage of the new move up buyer tax credit program that is now available. In my opinion there is a great buy in Saugus in the Plum canyon area. There is a foreclosure for only $489K. It's a 5 bedroom + 4 bath over 3500 sq.ft. Spanish style home built in 2005. A definite must see.
For more information regarding one of these listings please contact me @ 661 284-5004 or visit me at www.Laura4homes.com
New Listing 22718 Rio Chico Drive, Valencia, CA. 91354
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Gorgeously remodeled Valencia Racquet Club with two master suites ( one up, one down) and lots of sky lights so this home shows light and bright. Remodeled kitchen with with beautiful cabinets and granite. Enjoy added storage, vaulted ceilings, laminate floors and more. Outside enjoy covered patio with ample grass area or enjoy the amenities of the HOA. Community pool & spa, tennis courts, rec center, basketball courts, and playground. $365,000
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For more information click here.
Wachovia Offers Cash to Home Owners to Do a 'Short Sale'
Homeowners with Wachovia mortgages who are upside down on their property can get 1% of the price of their short sale, with a minimum of $2,500. The incentives only received once the transaction closes.
Wachovia Corp. is offering its borrowers money for selling their houses short, rather than have them go into foreclosure.
A short sale is when borrowers get their lenders' permission to sell their property for less than they owe in loans. Usually with the help of a skilled Realtor to negotiate on their behalf to have all liens released.
According to an analysis by market research firm Campbell Communications. Short sales are expected to make up a larger part of the market in the next two years as to before last summer only making up to 20% in California.
Homeowners are often confused with the concept of a short sale, and the term short sale has a bad reputation of causing disappointment and frustration. Often taking nine months or longer to get approved by lenders, the term short sale, fails it name. As a result, many homeowners allow themselves to fall into foreclosure. Especially if they haven't hired the right Realtor to sell their home.
Lenders typically say a short sale is quicker and less costly for them than a foreclosure which can cost lenders sometimes $40-$50K or more. Wachovia is being unusually aggressive in converting potential foreclosures into short sales.
The offer will be given depending on the situation. Generally it will be an amount that can help with moving expenses. In exchange, the former owner agrees to leave the house by a specified date and that the property will be left in a good and clean condition. Most banks do this now only when the foreclosure has already taken place to get them out and the banks call this usually "Cash for Keys".
Wachovia is promoting the program quietly by inviting real estate agents to seminars run by employees from the bank's short sale unit. This why it is key to always hire a professional Realtor to help you out in these situations.
Another key feature for borrowers is that Wachovia's program leaves them with no lingering mortgage debt.
The cash incentive is only one of several steps Wachovia is taking to promote and streamline short sales. The lender dramatically curtailed the amount of paperwork short sellers must provide to get a sale approved, allowing them to get a short sale closed in as little as 10 days.
Wachovia is planning to shorten that time further by asking real estate agents to alert it to short sale listings so it can order an appraisal before a bid is made. When a bid comes in, Wachovia will know whether it's in the range of negotiation.
This is very good knews for borrowers facing foreclosure. Doing a short sale in most cases is such a better alternative. I hope this is a lead that most lenders will take to help borrowers get out of tough situations easier. For more information regarding foreclosure vs. short sale please click here.
What is a Loan Modification?
Sometimes also known as mortgage modification it involves the reduction of the following:
1. The interest rate on the loan
2. The priniple balance of the loan
3. the term of the loan
4. Any combination of the above three
These typically result in a lower payment to the home owner and a more affordable mortgage.
The Benefit: Reduces the payment a home owner is required to make on a monthly basis and may reduce the principle balance
The Disadvantage: It requires that the home owner is qualified for the new payment and will often require full documentation.
Usually the home owner is disappointed with the end result of the loan modification because it's not the reduction they were hoping for.
57+ ACRES in Cuddy Valley almost all FLAT raise cattle or build a DREAM HOME! Gorgeous serene 57+ acres located in Cuddy Valley in Frazier Park. Minutes from the freeway located near shopping and restaurants this property holds many possibilities. Raise cattle or build your dream home on a picturesque meadow. Seller states property has a 30 GPM well, electricity and can possibly be divided.
For more information on this Cuddy Valley Land click here.
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