Foreclosures Rising in Valley Center Luxury Homes, Short Sales a Growing Alternative

December 22, 2009
Valley Center Hillside View

Recent news reports show the foreclosure rate on luxury homes is double the U.S. average, late payments now affect 12% of mortgages over $1M, and many owners are turning to short sales as a way to avoid the negative consequences of a foreclosure. Last week we saw lots of pressure from the US government to force non-Fannie [...]

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Valley Center, CA Market Stats for 17 December, 2009, Including Short Sales and Foreclosures

December 17, 2009
Valley Center, CA Market Stats 17 Dec 2009

Homes for sale decrease, and total homes sold double from mid-November to mid-December 2009 for Valley Center, CA. During November and early December in Valley Center, CA 92082…we’re seeing significant changes in the homes for sale inventory, with a HUGE change in the number of sold listings.  This data is from the Sandicor MLS. We have approximately the [...]

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Loan Modifications Not Working, Only 4% Approved, and 25% of Past Mods Now in Foreclosure

December 14, 2009
Money House istock photo

Government reports last Thursday show Loan Modification programs are not working, with only 4% of trial modifications moved into permanent status, and 25% of all borrowers with Loan Modifications in place are already back in foreclosure. If you think a Loan Modification is a fast and easy way to get out from under your problem mortgage [...]

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Banks Start to Allow More Short Sales…Add Staff…Decrease Delays

December 6, 2009
Short Sales will try your patience

Common wisdom says a short sale will take at least six months…and use up every bit of the seller’s and the buyer’s patience…but that may be changing. Yesterday there was a VERY informative Bloomberg article about changes in Short Sale policies by major banks that may signal a sea-change in the way lenders serve borrowers who [...]

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Just How Many Shortsale Homes or Foreclosed Homes are on the Market in Valley Center?

November 30, 2009
Total Active Listings in Valley Center, CA by short sale, REO, or Normal listing type 11-30-09

This afternoon I received a great phone call from a new client…Shelli…and she asked me about short sale, foreclosure, and normal sale statistics for homes actively on the market in Valley Center Someone had been throwing around some numbers…but what do numbers mean if you don’t have any context? I had to explain that in [...]

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Why You Should be Sceptical when your Lender offers you a Loan Modification

November 29, 2009
Homeowners should be sceptical of Loan Modification Claims

Recent news reports show loan modification programs are not working, so how do you decide if a mod is right for you? This article gives homeowners four important questions to answer before starting a loan mod process, and goes further with a checklist for homeowners to help prepare for a loan modification. There’s also advice on alternatives to loan modifications.

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Valley Center, CA Statistics on Foreclosures for November 2009

November 27, 2009
Valley Center monthy forelcosure chart 11-08 to 11-09

Foreclosures are rising in Valley Center, CA.; Homeowners can avoid most if they receive the right information early in the process. We’re at the end of November, so I took a look back at the trends for foreclosure through the 2009 year….and the results are frightening!  Here are two charts that show the average monthly numbers for foreclosures through 2009 [...]

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With all the conflicting information about short sales and foreclosures in Valley Center, CA who can you trust?

November 25, 2009
business deal

Every homeowner facing mortgage problems needs to find a professional they trust to give them accurate advice about ALL their options, including short sales. Just about every day I have someone ask me about the real estate market in Valley Center…and the conversation always includes the question, “What’s going on with all of the foreclosures?” Everyone has different ideas about the process [...]

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Short Sale and Foreclosure Trends in Valley Center for 2010…Homeowners need more Information

November 24, 2009
foreclosure stats for san diego county 1109

2009 Statistics and information for Valley Center, CA homeowners facing mortgage problems or foreclosure.

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Shadow Inventory Data for Valley Center and Escondido

November 22, 2009
Escondido and Valley Center Foreclosure Status October 2009 1024 size

Huge Shadow Inventory: Wild Foreclosure Numbers for Escondido and Valley Center, California Last week I took a look at the foreclosure and pre-foreclosure information in the San Diego County Assessor’s database….the numbers are almost unbelievable! We hear stories about the ”Shadow Inventory” of foreclosures out there…the “Foreclosure Tsunami” waiting to break…unfortunately those stories may just be TRUE! San Diego [...]

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