Rick and Joyce Tietz

Attention Home Owners- You can avoid Foreclosure and save your credit! - "At No Cost To You"

If you are a home owner facing foreclosure, we may be able to help you through a process known in the industry as a "Short Sale." A Short Sale is a process where we get your bank committed to helping you to avoid foreclosure by accepting a reduced pay-off on your mortgage loan, and it is something that happens every day.

Banks are changing requirements, procedures and qualifications almost daily. We know how to deal with these changes correctly, making offers more effective, and we have helped many homeowners in the same situation you find yourself in. We are on your side.

If you are facing collection proceedings or Foreclosure:

Let us help you speak to your bank about your current situation and take the pressure off of you.
We can help you with:

• Finding a buyer. Unlike your bank, we have buyers looking for homes right now. We are experienced in these situations and sensitive to satisfying your needs, first!
  
• We can reduce the impact to your credit standing.
  
  • Did you know a foreclosure can impact your credit for up to 7 years but a properly negotiated short sale has a much shorter impact to your credit?
  • We will help you create a proactive plan with your bank that will reduce the impact to your credit and get you out from under this crushing pressure.
    
• We can help negotiate a "structured move plan" with your current bank that will allow you to continue to live in your home longer.
  • We can help you work with your bank to stay in your home anywhere between 45 days to 6 months! This is not big talk: we do this daily for our clients.
    
• We can help you defer collections calls from your bank.
  
  • If you are receiving calls from your bank about back payments and elect to hire us as your agent, you can forward those calls to us.
    

Working alone through a short sale or foreclosure with your bank is not easy. We are here to help you sell your home for you quickly and efficiently.

In a 15 minute telephone call, we can explain to you all the current options available to help you solve your short sale situation.

Banks are motivated, contact us today to learn more. WE HAVE A 100% SUCCESS RATE!

CALL JOYCE NOW AT (925) 628-5105

Antioch Market Information

There were a total of 145 closed residential home sales from January 1^st to January 31^st in 2009 compared to 53 in January 1^st to January 31^st of 2008. The average selling price for that period was $181,361 compared to an average selling price of $346,322 for the same period in 2008, a percentage drop of 48%. The median selling price was $185,000 compared to $350,000 for the same period in 2008, a percentage drop of 47%. The average number of days a house was on the market was 49, compared to 71 days for the same period in 2007, two thirds the time. Currently there are 739 homes on the market, and it's a great time to buy.For more detailed information on current real estate market conditions and knowledgeable service in the Antioch, California real estate market, contact Rick Tietz directly at 925-783-3371 or Joyce Tietz directly at 925-628-5105.

Antioch CA real estate remains abundant and more affordable than ever compared with other parts of the Bay Area. In the month of November 2008, the average sale price in Antioch CA was $218.023 compared to November 2007 average sale price of $347,384. WOW that's a difference of $129,361 drop in average sales price from last year. Prices have dropped 37 percent from the same period last year and over 50 percent from 2 years ago. There has been a significant decrease in average sales price of $23,112 in January of this year compared to last December.

The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they currently cannot afford. Under the program, certain borrowers facing difficulty with their mortgage will be eligible to refinance into FHA-insured mortgages they can afford. The program will be implemented on October 1, 2008.

Homeowners May Already Be Eligible For Assistance

Families should not wait to seek mortgage relief. Right now, homeowners can determine if they are already eligible for mortgage assistance through FHASecure, FHA's existing refinancing program. They can obtain information through either of the following options:

1. Contact a local, HUD-approved housing counseling agency at HUD.gov;
2. Contact the HOPE NOW Alliance at 1-888-995-HOPE

Sustainable, Affordability Homeownership

Hope for Homeowners maintains FHA's long-standing requirement that new loans be based on a family's long-term ability to repay the mortgage. FHA only allows owner-occupants to be eligible for FHA-insured mortgages. Borrowers must also meet the following eligibility criteria:

• Their mortgage must have originated on or before January 1, 2008;
• Their mortgage debt-to-income must be at least 31 percent;
• They cannot afford their current loan;
• They did not intentionally miss mortgage payments; and
• They do not own second homes.

Features of FHA-insured loans under the new program include:

• 30-year, fixed rate mortgage;
• Maximum 90 percent loan-to-value ratio;
• No prepayment penalties;
• $550,440 maximum mortgage amount;
• Extinguishment of any subordinate liens; and
• New home appraisals from FHA-approved appraisers.

HUD, Treasury, FDIC and the Federal Reserve will form the Congressionally-mandated Board of Directors and work together to establish additional program standards.

Voluntary Lender Participation

FHA will continue to offer lenders an alternative to foreclosing on borrowers. Similar to FHASecure's recent expansion, lenders will be encouraged to write-down the outstanding mortgage principal balances to 90 percent of the new value of the property. In many cases, reductions in principle will cost lenders less than the losses associated with foreclosure.

Market Stability and Liquidity

By continuing to slow the rate of foreclosures, this program will support FHA's existing effort to stabilize local housing markets. From September 2007 to June 2008, FHA has guaranteed more than $93 billion of mortgage capital.

Funding

FHA will insure up to $300 billion in new loans. Borrowers will pay an upfront premium of 3 percent of the original mortgage amount and an annual premium of 1.5 percent of the outstanding mortgage amount. Any additional costs incurred by FHA will be reimbursed by Fannie Mae and Freddie Mac.

Program Timeline

The program will last from October 1, 2008 through September 30, 2011. Since September 2007, FHASecure has helped more than 290,000 families obtain safer, more affordable mortgages. FHASecure is on pace to help 500,000 families by the end of the year

View our web site for all of your Real Estate Needs. http://www.tietzhomes.com

Published Tuesday, December 09, 2008 9:37 AM by Rick and Joyce Tietz Filed under: Real Estate, Market Conditions, For Sale, Announcements, Industry, Finances, Buyer Information, Seller Information, Community Information, Antioch CA Real Estate Agent, Oakley CA Real Estate, Oakley CA Homes for Sale, Antioch CA Homes for Sale, Pittsburg CA Real Estate, Brentwood CA Real Estate, Antioch CA Real Estate, Contra Costa CA Homes for Sale, Pleasant Hill Homes for Sale, Discovery Bay Homes for Sale, Brentwood CA Homes for Sale, REMAX Associates Antioch CA, Rick Tietz, Pittsburg CA Homes for Sale, Antioch CA Realtor, Martinez CA Homes for Sale, Joyce Tietz, Antioch CA MLS Listings, Rick and Joyce Tietz

A year or so ago, short sales were the ‘S' words that nobody, buyer's agents, seller's agents and buyers themselves wanted to be involved in. Banks were not very cooperative, they put listing agents through the ringer and were not very negotiable on price. If a buyer hung in there long enough and a whole lot of other variables worked out, we had an occasional success story. It came with the cost of frazzled nerves, frustrated and emotionally spent ‘victims' to the short sale process itself. The success level was low at best.

Well, circumstances have changed and banks have seen the light. Banks actually make out better, financially, if they can negotiate a short sale rather going through the costly expense of a foreclosure. Some banks are even negotiating short sales even if the mortgagee (owner) is not behind on payments (hey, that makes sense, keep the money flowing in). So here we are with more ‘express' short sales with many banks giving an approval in 3-6 weeks after an offer and short sale hardship package is submitted, rather than 3-6 months. An added note: Homes with 1 loan/1 bank or 2 loans/1 bank are much easier to negotiate with than 2 loans/2 banks, however all can be negotiated successfully.

But isn't a REO (already foreclosed property being sold by the bank) still a better and more affordable option? Well, sometimes it is, however short sales are being approved now with very competitive purchase prices and in many cases the homes are in much better condition than an REO. One other major factor guiding buyer's to short sale listings, most REO's in better condition are aggressively priced by the bank to sell within 30 days or less which creates multiple bid situations. Yes, there are that many buyers out there right now!

A successful short sale still has many facets. A dedicated professional realtor has to contact the banks involved, as representative for the property owners (via a 3^rd party authorization form and listing agreement with the seller's), and get their specific criteria of required components to the short sale package (every bank is different, but similar), and understand that specific bank's short sale procedure. That realtor must keep all parties accountable and make sure all required documents are received and sent to the bank in a timely manner.

We are experienced Realtors having completed many successful Short Sale and REO Transactions. Give us a CALL with any questions you may have or VISIT our web site.

The bottom line is short sales are becoming more attractive than in the previous year or so, so keep an open mind and don't be afraid to consider a short sale listing when making your new home purchase.

I'll close with a short story about our latest success story. We listed a home recently with 2 loans/2 banks. The second bank was a small credit union and was very willing to cooperate. We started the listing price a little higher to show the bank that we made an effort to get them the most money we could (we showed history). After about 4 weeks, we were at the price we knew would get attention. We received an offer within a few days, forwarded it to the bank with complete hardship package. Within 2 days I was assigned a negotiator, an appraisal was ordered, there was a small counter offer by the bank and we closed escrow about 4 weeks later.

BUYERS: HAPPY SHOPPING SELLERS: CONTACT A REALTOR-CHECK OUT YOUR OPTIONS

For more information please contact Rick and Joyce Tietz (925)628-5105

or visit our web site at http://www.tietzhomes.com

Written by Rick and Joyce Tietz, Realtors RE/MAX Associates

Welcome to Antioch CA Real Estate and General Information

There were a total of 270 closed residential home sales from October 1^st to October 31^st in 2008 compared to 43 in October 1^st to October 31^st of 2007. The average selling price for that period was $222,903 compared to an average selling price of $348,456 for the same period in 2007, a percentage drop of 36%. The median selling price was $225,300 compared to $360,000 for the same period in 2007, a percentage drop of 37%. The average number of days a house was on the market was 52, compared to 96 days for the same period in 2007, almost half the time. Currently there are 878 homes on the market, and it's a great time to buy.

Antioch CA real estate remains abundant and more affordable than ever compared with other parts of the Bay Area. In the month of September 2008, the average sale price in Antioch CA was $214,246 compared to September 2007 average sale price of $340,190. WOW that's a difference of $125,944 drop in average sales price from last year. Prices have dropped 37 percent from the same period last year and over 50 percent from 2 years ago. There has been a slight increase in average sales price of $8,657 in October of this year compared to last September.

There are still many real estate deals to be had and lots of homes for sale in Antioch, but you need a local market expert to help you. Rick and Joyce Tietz are long time residents and are experienced real estate professionals who have more than 10 years of home buying and selling experience between them, overseeing more than $10,000,000 of real estate transactions. For true local and knowledgeable service in the Antioch CA real estate market, contact Rick and Joyce Tietz at (925) 628-5105.