August 2010

Currently there are 321 Condos currently Active for Sale in Irvine, and 105 of these listing are Short Sales, representing about 1/3 of the available inventory.  These Short Sale listings range in price from $130,000 for a 1 bedroom, 1 bath on up to $1,499,000 for a 3 bedroom, 4 bath, 2,677 square foot high [...]

The realtor who is working for my former landlord’s lender came by yesterday and offered us money if we’d move out within 30 days. Should we take it? If the lender offered me 30 days and $500, I’d probably just call off the negotiations as not serious. And I’d hope that you’d do the same. [...]

More than 1 million U.S. households could lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans. Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to [...]

A waterfront Newport Beach house once on the market for $23.9 million was repossessed by the bank last week after failing to sell at a foreclosure auction for $7,790,000. The 5,000-square foot, Cape Cod-style house at 2706 Bayshore Drive has 4 bedrooms and 6 baths and sits on a 7,026-square foot double lot, according to a former listing. The [...]

You’ve never set foot in the house. How risky would it be to buy it? You have a full-time job. How much time would it take to invest in a foreclosed property?  These homes are auctioned off in front of various government buildings in Orange County virtually every day. The auctions attract investors who seem to know what they’re doing, bidding [...]

20 TOPIARY Amount owed: $1,123,552.51 Auction date & time: Sept. 10 at 3 p.m. Location: At the north front entrance to the county courthouse, 700 Civic Center Drive West, Santa Ana. Trustee sale #: 10-0045383 4 DELANTERA Amount owed: $481,912.25 Auction date & time: Sept. 2 at 10 a.m. Location: In front of the flagpoles [...]

  Foreclosures and short sales and real-estate-owned (REOs) are all distressed sales but different from each other. However, they are also similar because without knowledge about handling foreclosures, short sales and REOs, you could find yourself in dangerous territory. For example, while most short sales are foreclosures, not all foreclosures are short sales. To further [...]

Today I came across a recent study on foreclosure sales and house prices by an MIT economist and two Harvard researchers. MIT just issued a press release so the study is now making headlines. The researchers looked at 1.8 Million transactions over the last 20 years and came to the conclusion that homes sold after [...]

On average, a foreclosure reduces the value of a house by 27%, says a new paper from an economist at the Massachusetts Institute of Technology and researchers at Harvard University. In the study, which is due for publication in the American Economic Review, MIT economist Parag Pathak and Harvard researchers John Y. Campbell and Stefano [...]

The answer is YES. Don’t think it’s OK to foreclose. It’s not OK to think you’ll just let the house go; just mail in the keys and then file bankruptcy and you’ll be protected. WHAT R U THINKING??? Everyone needs to be accountable and responsible. Trust me; I’ve seen it all. If you have to [...]