According to Lender Processing Services (LPS), there were 6,298,000 mortgagesgoing unpaid  in the United States as of the end of October. Although that sounds like an incredibly HIGH number of delinquent mortgages, that total is actually less than the previous months. At the beginning of this year, there were 6,870,000 delinquent mortgages.  Compare that to the beginning of 2010 that showed 8,118,000 and you can clearly see how there’s been a major decline in the total numbers of past due mortgages. CLICK HERE for more on this story. Does all this mean that we’re nearing the end of the housing problems?  I wouldn’t go so far as to say that, but I feel it’s definitely showing that we’re heading in the right direction.  And although it may confirm that we’re heading the right direction, i... 11/25/2011

I was a guest speaker with Old Republic Title Company at the NAREB meeting and training session at the PMZ University on Deer Park Drive, in Stockton. It was very interesting to find out about the OR Touch Mobile app.  If you pull up in front of a property and open the app it will pull a property profile up on your phone, wow, isn't that interesting? You can learn all kinds of things about it right there in front of the property as it is a GPS based application.  They way they described it you may be showring a listing and the one across the street didn't show up on your search. Just walk over to the home and open the application, and you get all the info for your property profile. you can enter the data or just use the "use my location" feature to minimize the data input. It is truly a... 10/14/2011

Do you need a Central Valley Short Sale Specialist?　 If you have any questions or would like to discuss any real estate related issue please contact Pat Holkesvig　at (209) 471-6516 or complete our Contact Form. Pat Holkesvig & Your Home Team specialize in Stockton short sales, Lodi short sales, Lathrop short sales, Manteca short sales, Elk Grove short sales, Mountain House short sales, Tracy short sales, Ripon short sales and Tracy short sales. Request a cost-free FREE MARKET EVALUATION for your home at the Valley's BEST homepage Homes-In-HYPERLINK "http://www.homes-in-stockton.com/Find_Your_Home_Value.php"StocktonHYPERLINK "http://www.homes-in-stockton.com/Find_Your_Home_Value.php".HYPERLINK "http://www.homes-in-stockton.com/Find_Your_Home_Value.php"com. Click hereto search all Centra... 09/21/2011

Did you know that HUD Pemco is having a bus tour in the Central Valley area on October 8th?  All buyers are welcome to join in and it is all FREE.  Take advantage of the opportunity to view homes that are not on the market yet.  You will also learn the HUD Home purchasing process.  All are welcome: Owner Occupied, Investors, non-profits, teachers, public services, etc. Meeting place:  Le Bristo  3121 W. Benjamin Holt, Stockton CA Get on Board!  PEMCO Buyer Educational Bus Tour    Seats are limited and will be on first come, first served basis.  Come join us as we tour our HUD homes and learn about the home buying process.  ·         HUD sales process ·         Credit and budgeting ·         First time home buying ·         Home inspections ·         Appraisals ·         …..and more!   T... 09/18/2011

PRICE REDUCED! WELCOME HOME! Charming 1930's HUD home located seconds from Victory park and EZ freeway access. Features in ground pool with diving board in back yard and a partial basement. #3bdr/3Ba per HUD. LBP. BLB Resources make no warranty as to the existence of mold in this property, and is not liable for the potentially harmful effects thereof. California State law requires carbon monoxide detectors, seller is exempt from this requirement as a Federal Entity. FHA Case # 043-757196As-Is Value: $72,900FHA Financing: IN (Insured)203K Eligible: YesRepair Escrow: $2,035 Interested?  Call 209-910-3706 There are no negotiations between buyer and seller when you buy a HUD Home. This can be a real advantage. There’s no haggling about price–everything is spelled out in black and white. Wha... 09/11/2011

This is a HUD Home and Sold As-Is! Fixer upper. This is a 2 story 4 bedroom, 2.5 bath home with 2117 sf. built in 1989. Disclosures: Subject may have unpermitted addition, State law requires Carbon Monoxide detectors be installed for properties having combusitble fuel heaters/furnaces, fireplaces, hot water heaters, clothes dryers, cooking appliances or an attached garage, but seller (HUD) is exempt from this requirement as a Federal Entity, Recommend replacing broken windows and sliding door, plumbing and HVAC inspections.   There are no negotiations between buyer and seller when you buy a HUD Home. This can be a real advantage. There’s no haggling about price–everything is spelled out in black and white. What’s more, your offer is responded to promptly, and if it’s accepted, closing o... 09/11/2011

Do you need a Central Valley Short Sale Specialist?  If you have any questions or would like to discuss any real estate related issue please contact Pat Holkesvig at (209) 471-6516 or complete our Contact Form. Pat Holkesvig & Your Home Team specialize in Stockton short sales, Lodi short sales, Lathrop short sales, Manteca short sales, Elk Grove short sales, Mountain House short sales, Tracy short sales, Ripon short sales and Tracy short sales. Request a cost-free FREE MARKET EVALUATION for your home at the Valley's BEST homepage Homes-In-Stockton.com. Click hereto search all Central Valley homes for sale just like a realtor or click the following links to view homes available in your neighborhood or community. STOCKTON NEIGHBORHOOD SEARCHES: Brookside Brookside Golf Lincoln Village Li... 09/01/2011

Some buyers are determined to bid lower than the list price. I believe it is called bargain shopping - but is it reality?  No matter if it is a short sale, REO or traditional listing.  They love the house but want to pay less for it.  The fear is that the market is going to go down lower and lower and they do not want to pay too much for the house.  They have this idea that the sellers are more than anxious to get the property sold and will accept any offer you shove at them. Especially when it comes to short sales.  This is not necessarily true of any players in a short sale.  As a practice I explain all the different types of listings that are on the MLS and that may match the potential buyers qualifications.  I explain Short Sales, REOs, Traditional, HUD homes and New Homes.  Usually... 08/21/2011

Following up on the PMI /PMAC post I did earier this week: Stockton Home Owners |Short Sales | PMI can be a deal killer! Experiencing a PMI denying a short sale request because it was not in the best interest of the PMI to approve it - made me do further research on PMI companies.  Some homeowners received the Dear John letter.... To Our Valued Customers:  We are writing to inform you of the very recent regulatory decisions that have impacted our ability to write new commitments. Specifically, PMI Mortgage Insurance Co. (“PMI”) and PMI Mortgage Assurance Co. (“PMAC”) have been informed that they must cease writing new commitments for insurance effective as of the close of business on August 19, 2011. PMI and PMAC may issue mortgage insurance policies under pending commitments through th... 08/21/2011

It can give the listing agent a false sense of "I will get an offer soon".  When you list a property and do all  your usual marketing: send out notifications, MLS, etc.  Now the flood gates open.  It feels good to have inquiries about the listing, agents calling or emailing and sometimes even contacts from your website.  The best part is when someone actually want to see the inside of the property. It is very important to make your homeowner aware of this flood of interest and they should buy in to the invasion.  Actually they should not consider it an invasion if they really want the property to sell.  It is very important to get clear instructions from the homeowner on when they are available to have interested and potential buyers.  Having clear instructions is really important. Exam... 08/20/2011

This is a Short Sale, sitting on the corner - just waiting for new owners!  Attention: First time home buyers, Investors, Family or singles - There is nothing like a cul-de-sac home that is located on the corner.  Nice area - easy access to freeway, shopping, schools in a nice community.  This is a Chase short sale and is just waiting to happen.   STOCKTON: Price REDUCED - Corner Lot Overview Maps Photos Neighborhood Market Stats $95,000 Single Family Home Main Features 3 Bedrooms2 Bathrooms1 UnitInterior: 1385 sqftLot: 8,712 sqft Location 1910 Whitney St.Stockton, CA 95210USA To get updates on open home dates and other property events, please click the "Like" button below: The Mother & Daughter Realty Team Embarcadero Investments - the Real Estate Company(866) 543-0461 Call nowbrooksrm... 08/16/2011

Investors, First time home buyers, family or singles - this is a great centrally located property that is just waiting for you and your family! Located in Weston Ranch in the Manteca Unified School District.  This is a short sale waiting to happen.  Please Note: Cash offers are most welcome! STOCKTON Condo for sale - Sunpointe condo - Move-in Ready - Short Sale Nice Overview Maps Photos Description Neighborhood Market Stats $25,000 Single Family Home Main Features 1 Bedroom1 Bathroom1 UnitInterior: 612 sqft Location 3591 Quail Lakers Dr.#203Stockton, CA 95207USA To get updates on open home dates and other property events, please click the "Like" button below: The Mother & Daughter Realty Team Embarcadero Investments - the Real Estate Company(866) 543-0461 Call nowbrooksrm2042@aol.comhtt... 08/16/2011

Students, Investors, First time home buyers, singles - this is a great condo for you! Located in the great Quail Lakes Condo - Sunpoint Complex.  Well maintain condo complex with swimming pool and other amenties.  Do not miss out on this "almost for nothing" condo. This is a short sale waiting to happen.  One loan (Chase) and they are ready to deal!  Cash offers are most welcome!     STOCKTON Condo for sale - Sunpointe condo - Move-in Ready - Short Sale Nice Overview Maps Photos Description Neighborhood Market Stats $25,000 Single Family Home Main Features 1 Bedroom1 Bathroom1 UnitInterior: 612 sqft Location 3591 Quail Lakers Dr.#203Stockton, CA 95207USA To get updates on open home dates and other property events, please click the "Like" button below: The Mother & Daughter Realty Team E... 08/16/2011

Do you need a Central Valley Short Sale Specialist?  If you have any questions or would like to discuss any real estate related issue please contact Pat Holkesvig at (209) 471-6516 or complete our Contact Form. Pat Holkesvig & Your Home Team specialize in Stockton short sales, Lodi short sales, Lathrop short sales, Manteca short sales, Elk Grove short sales, Mountain House short sales, Tracy short sales, Ripon short sales and Tracy short sales. Request a cost-free FREE MARKET EVALUATION for your home at the Valley's BEST homepage Homes-In-Stockton.com. Click hereto search all Central Valley homes for sale just like a realtor or click the following links to view homes available in your neighborhood or community. STOCKTON NEIGHBORHOOD SEARCHES: Brookside Brookside Golf Lincoln Village Li... 08/15/2011

When times are hard almost anything can be considered a HARDSHIP and it is almost the same with short sales.  No matter what type of short sale you may qualify for - a hardship is a hardship.  Some of the definitions or different kinds of hardships that can be happening to our homeowners: Dealth in the family Divorce Marrial problems illness in the family heavy in medical debt child ready for college and there is no money to send them relocation (forced or otherwise) loss of job decrease in income major repairs needed on your home and you can't afford them over step your limits on your credit cards and other debts mortgage payments are just too high for the income you have coming Adjustments are scheduled in a few months or next year These and other reasons are constituted as hardships.... 08/07/2011

Stockton CA – Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the listing agent is at short sales. The listing agent is the agent with the property for sale. They will usually be in charge of processing the short sale with the lender. Get my Free, Step By Step Loan Modification Guide by clicking here. If the listing agent is a genuine short sale expert and knows what they are doing, then you have a very good chance of the short sale being approved and buying the home. I’ll show you how to separate the experts from the pretenders in this post. If the agent is not a genuine short sale expert, then you are probably wasting your time. You should go find another home to buy. First, ask them how many short sales they have successfully sol... 07/25/2011

Stockton CA – The Stop Foreclosure Institute gets asked this question quite a bit. The answer depends on the type of loan you are looking to use to purchase your next home. Here are the details on your options to buy another home after a short sale. Get my Free, Step By Step Loan Modification Guide by clicking here. Owner Financing. You can buy a home with owner financing anytime after a short sale. FHA Financing. (FHA is very popular because it only requires you to put down 3.5% and pay your closing costs. You can usually convince the seller to pay your closing costs, thereby reducing your down payment to 3.5% of the purchase price.) FHA’s current guidelines state that you can get an FHA loan immediately after a short sale, provided that you never missed a payment. If you were in defau... 07/25/2011

Stockton CA – Another agent recently e-mailed the Stop Foreclosure Insitute. They were having a hard time with a short sale on a Fannie Mae Loan. Get my Free, Step By Step Loan Modification Guide by clicking here. Here is an excerpt from the agent's e-mail. "I spoke with Josh @ Fannie Mae. He said that once there is a foreclosure sale, per an agreement with lender, Fannie Mae would pay the lender the full balance of the note. I started to comment that what incentive is there for the lender to process a short sale. He said I know where you’re going with that and we couldn't comment. It appears that the title would be transferred to Fannie Mae and the lender would be reimbursed for the FULL balance of the note. This is crazy! When Fannie Mae is the investor, it seems a JOKE to bother with... 07/25/2011

Stockton CA – If your loan has Private Mortgage Insurance, also known as PMI, then there is a high likelihood that they will request that you sign a promissory note. Today’s blog post talks about how to convince the lender to waive it. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. PMI companies are notorious for asking for promissory notes. The reason they ask for them so much is because there is no risk in doing so. If the home is foreclosed upon, then they will have to pay a claim for the loss. If the home is sold as a short sale, then they will have to pay a claim for the loss. Either way, they have the same result. But, if they get a promissory note, then they get some money to help cover the claim. Either way, there is no risk to th... 07/25/2011

Stockton CA – We received a lot of feedback from yesterday’s post. One agent said, “You obviously don’t know what you are talking about. Bank X won’t give us a response on the file and we have been waiting 5 months for an answer. How dare you suggest that I am incompetent because they haven’t replied?” (The bank was a large national bank whose name I changed for this post.) Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. First off, we are not saying that all agents are incompetent. However, we do see some agents with no experience with short sales attempting to sell them. Here is the issue. Banks do have responsibilities. In 80% of cases, the bank we negotiate with does not own the loan. That means they don’t take any of the loss from sho... 07/25/2011