Linda Reynolds

Are you looking for something fun and free (with gas prices the way the are, who isn't?) to do for The Fourth of July? Check out the Pier Plaza Expo. They will have a pancake breakfast, a 5K run and a fitness expo. It runs 6 am till 9:30 pm on July 4th at Pier Plaza. It's located at Main St. and PCH. The admission is free, although some events and activies are extra. You can contact 714-374-1535 for more information. Hopefully the good weather lasts and you can enjoy the day at the beach! Have a wonderful July 4th!!!

You can also contact me at 800-845-8588, via email at reynolds@socal.rr.com or on my website at lindareynolds.com. I'm here for all of your real estate needs!

Linda

I am continually asked by Buyers about finding short sales and foreclosure properties. Everyone wants a "deal" today and feels that these properties are the avenue to that end.

Bank owned foreclosures are HOT and growing hotter by the minute. Right now foreclosures account for around 20% of the total distressed market and only 7% of the entire active listing inventory. Foreclosures are REALLY in demand and right now the lenders are calling the shots with multiple offers and NO emotional attachment to their "assets." Buyers should know that they could easily pay more for a property when dealing with a "bidding war" scenario on foreclosures. Instead of looking at a foreclosure, I find Buyers often are MUCH happier with finding a property that they REALLY want. In a traditional transaction, they know the history of the property with full Seller disclosures. Often they have MUCH more negotiating room with Sellers who don't sit behind a desk just crunching numbers.

As a buyer, it's also important to beware of the growing number of short sales today. Even when a buyer and seller agree upon the terms of a contract, escrow is not technically opened until formal lender approval occurs. The lenders have to determine whether or not they are willing to take less than the full loan amount currently encumbering the property. And, if there is more than one loan, each and every lender must sign off on the deal in order for an escrow to proceed. These approvals can take anywhere from weeks to MONTHS. Also, many of these short sales are priced at levels to attract buyers, discounting well below the true market value. In this case, the odds of "lender approval" on even a full price offer are slim to none. As a consumer, it may be best to do your homework and write and offer closer to the market value, ABOVE the asking price, increasing the odds of lender acceptance.

I'm here to help you with all of your real estate questions, concerns. You can contact me directly at 800-845-8588, via email at reynolds@socal.rr.com or my website at lindareynolds.com.

Linda Reynolds

The new FHA improved guidelines will really open up our market place! The federally insured loan amount is now $729,750 and if a buyer is qualified they can have as little as 3% down! These loans are assumable and can be rewritten if the interest rate drops! Also, the loan can be bought down for ease of qualifying. This buydown can be accomplished by the seller paying the cost. Call me for further details! Linda 1-800-845-8588

Go to LindaReynolds.com for further updated real estate information.

For anyone wanting to be involved in an "Earth Day" event, please see the information below to help keep Huntington Beach GREEN!

Earth Day Planting at Bolsa Chica Volunteers of all ages can lend a hand with planting and watering native plants at the Bolsa Chica Mesa. They will supply the plants and tools-- even lunch! 9 a.m., April 1 9, Bolsa Chica Wetlands, Warner Avenue and Pacific Coast Highway, Huntington Beach. 714-846-1001. www.bolsachicalandtrust.org for more information on the event.