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Loan Modification Programs Falling Short
Joelle Berni, a Century 21 M&M and Associates Realtor in Madera, was not surprised to hear this week that more than 40 percent of homeowners applying to the federal Home Affordable Modification Program drop out. The HAMP program, the flagship of several federal loan modification plans, is designed to lower mortgage interest rates to counter [...]
Read Full Post | Make a Comment ( 2 so far )Homebuyer Tax Credit Extended
In a race against an impending deadline, new homebuyer Jennifer Medeiros was able to close escrow just in time to qualify for an $8,000 tax credit. Medeiros, 23 and a probation officer, just made it by the June 30, 2010 deadline. According to the National Association of Realtors, up to 200,000 homebuyers were not as [...]
Read Full Post | Make a Comment ( 3 so far )Avoiding Foreclosure
Sally Frampton and Brenda Pintabona, real estate agents associated with Century 21 M&M in Northern California, are in the business of helping people. As Realtors, they both love helping people find their dream homes. However, due to this recession, Sally and Brenda find themselves helping people in unexpected ways. Every day they are reaching out [...]
Read Full Post | Make a Comment ( 1 so far )Flipping Real Estate in Northern California
Third in a four-part series Some real estate investors like to play a high-risk game. It’s called flipping. “Flipping is very, very high risk,” said Ernie Ochoa, a Century 21 M&M and Associates Realtor based in Merced. “It’s not for the average guy. You can really lose money.” You also can make money. Flippers typically [...]
Read Full Post | Make a Comment ( None so far )Pros and Cons of New Short Sale Regulations
The recently introduced new regulations for streamlining short sales sounded too good to be true. For some home sellers, they just might be. Under the new federal regulations, with the new and improved short sale process: • Homeowners receive $3,000 for relocation expenses when they complete a short sale or hand over the property deed [...]
Read Full Post | Make a Comment ( 1 so far )Accelerating the Short Sale Process
Can a traditional “short sale” drag on and on before it is completed or closed Ask Chet Dilka, a Realtor based at the Century 21 M&M and Associates office in Stockton, he’s working on a short sale that is up to 654 days and counting. “I just got written approval for that short sale,” he [...]
Read Full Post | Make a Comment ( 2 so far )New Homes Sales Continue in Northern California
Second in a four-part series It’s a chicken or egg paradox: What came first? Strong new home sales or weak new home construction? Robert Martelli, vice president of JKB Homes Inc., said the latest construction slump is the worst the Turlock-based builder has seen in more than 30 years in business. He believes new home [...]
Read Full Post | Make a Comment ( 1 so far )How Foreclosures (REO’s) Affect New Homes Sales & Construction
First in a four-part series. While new home construction has slowed to a trickle, new home real estate sales have been flowing strong for Brian Medeiros. Brian Medeiros, 37, realtor for 12 years with Century 21 M&M and Associates in Livingston, CA., specializes in selling new homes at orphaned subdivisions. “I’ve done 11 of these,” [...]
Read Full Post | Make a Comment ( 7 so far )The Short Seller; A Sellers Option
According to Susan Santucci, Century 21 M&M Real Estate Agent in Oakdale, CA, “For home owners that can no longer afford to keep their mortgage payments current, a Short Sale is an option to consider in order to avoid bankruptcy or foreclosure.” Essentially a Short Sale in real estate means the lender is accepting less [...]
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