Matthew Zgonc, Realtor, CFS, CVS

Right now buyers are out there looking for bargains in this market. Many buyers are hesitant and are waiting for the bottom to occur. Speaking from experience most people ending up missing the bottom and either catch it right before or right after it has occurred. In my area of Modesto, I have seen a huge increase in sales in just recent days. Usually this time of year is dead up until March or April, but there is a lot of people out there that are looking for the great deals that are in this market.

The current inventory, according to the Modesto Bee, is "thirteen months", which means that there are a lot of good deals out there.

However be careful for traps. Many bank-owned properties can be acquired for discounted prices, but there can be lots of hidden damages that are in the property.

Overall though, most homes are priced and staged well to sell and would be wonderful assets for people to acquire the American Dream. Getting a loan is a little bit more difficult, but if you have good credit then you are going to be in position to own a home.

There are a few things I would do before you decide to work with a Realtor.

1. Get pre-approved for a loan. Pre-qualified does not cut it with many places, they actually want you to be pre-approved.

2. Shop around. Find a Realtor or Agent that you are comfortable with and will not push you into a home that you are not comfortable with the payments.

3. Look around and find the neighborhood that suits you best.

4. Find a Realtor that will take most of the stress out of the home buying process and will find out the answers to questions. Anyone that claims to know all the answers usually doesn't.

Good luck in your home buying search. Remember right now is an excellent time to buy a home in Modesto or in most parts of the country.

Matthew Zgonc
www.buysellmodesto.com

Being in the foreclosure capital of America, I thought the following tips might come in useful for people in San Joaquin, Stanislaus and Merced Counties.

Here are some tips for avoiding foreclosure:

• If you are unable to make your mortgage payment, don't ignore the problem. The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

• Contact your lender as soon as you realize that you have a problem. Lenders do not want your house, and they have options to help borrowers through difficult times.

• Contact a counseling agency for information and advice.

• Open and respond to all mail from your lender. The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notices of pending legal action. Your failure to open the mail will not be an excuse in court. In addition, the companies will feel you are ignoring them and will be less willing to work with you.

• Know your mortgage rights. Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and time frames. In California, borrowers are considered in default the second day after the second missed mortgage payment is due. A notice of default typically is recorded 40 to 90 days after the first missed payment. The house can be sold at a trustee foreclosure auction on the courthouse steps 150 to 200 days after the first missed payment. Homeowners can stay in the home up to 30 days after the foreclosure auction before being evicted.

• Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development funds free or very low-cost housing counseling nationwide. Counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need it.

• Prioritize your spending. After health care, keeping your house should be your first priority. Review your finances and see where you can cut spending to make your mortgage payment. Look for optional expenses - cable TV, memberships, entertainment - that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

• Use your assets. Assets such as a second car, jewelry or a whole life insurance policy can be sold for cash to help reinstate your loan. Members of the household can get an extra job. Even if these efforts don't increase your available cash or income significantly, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

• Avoid foreclosure prevention companies. You don't need to pay fees for foreclosure prevention help - use that money to pay the mortgage. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three times your mortgage payment) for information and services your lender or a HUD-approved housing counselor will provide free.
  
  Don't lose your house to foreclosure recovery scams. If any firm claims it can stop your foreclosure immediately if you sign a document appointing it to act on your behalf, you may well be signing over the title to your property and becoming a renter in your home. Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional or a HUD-approved housing counselor.
  

The La Loma neighborhood is one of the oldest neigborhoods in Modesto. It is a very tight-knit community, which is home to the largest park in Modesto.

It is home to elementary and junior high schools, which are walking distance from just about every home in this area. The neighborhood has an array of housing ranging from condominiums to two-story homes. Most are one-story ranch-type houses. Students at the high school level would go to Downey High School, which is only about a mile or two away.

Running directly behind this neighborhood is Dry Creek, which ends up in the Stanislaus River. There are lots of shopping areas nearby with a variety of stores to choose from. It is also very conveniently located near HWY 132 and the back route into Ceres.

The greatest part of this area is that it is affordable. Many homes are 2 bed and 2 bath, with a price tag in the low $200,000 range. If you are looking for an established, comfortable neighborhood to buy in, then La Loma is it.

Another wonderful community in Modesto is the Dutch Hollow neighborhood. It is located near Standiford Road and Dale Road, right near HWY99. It is an older well-established community, with very little crime and mostly one-story houses. There are a few parks in this area, but is a family-friendly environment. Many of these houses are between the $300,000 to 500,000 range, with many of these houses being works of art, but there are a lot of houses starting to fit into the $200-$300,000 range.

This community has many schools nearby and is located in the Stanislaus Union Elementary School District, while high school students attend Beyer High School. There are many families located in this area and with the new demand for housing in the Central Valley, this area is being revitalized and seeing new growth.

There are many shopping centers nearby, with Vintage Faire Mall being the biggest and closest. There are lots of fine dining and fast food eating establishments located close by for your convenience. Dutch Hollow is a neighborhood that has it all.

When considering places in Modesto for either buying or renting, check out one of the most prestigious and sought-after areas of Modesto: Dutch Hollow

Many of you know that I come from an area in the country which statistically has more foreclosures than any other part. There are issues with banks and people trashing the homes and people vandalazing the homes for copper, but that is not the issue with this blog. This deals with the victims that are often not talked about, which is the household pet. Many people have just left their dogs or cats in the house or garage, tied up with little or no food or shelter. Sometimes it could be a month or so before a cleanup person or a realtor comes by the house to discern its value and discover the abandoned pet. Many times it is too late and there is tremendous property damage to the house as a result of the neglect.

The question that comes to my mind is how could someone do that to something that they loved and was a part of their family? At the very least take the animal to the humane society or ASPCA so that it can be adopted out to a family that will care for it. I understand that there is a lot of anger toward the bank when a house is foreclosed upon, but to leave a pet behind is just outright wrong. A pet trusts that their owners will care for them and feed them, not to leave them to be a problem for someone else. I just do not understand the reasoning. I do understand that sometimes that they cannot take the pet with them, but there are always other options.

The really sad part is that there are articles in the Associated Press that talk about Stockton and Modesto by name as areas where this is happening more and more frequently.