It pains me when I hear conversations about people who settled their upside-down mortgage problem by doing absolutely nothing. All too often, even though realtors like me do everything we can to bang it into distressed homeowner’s heads that they have choices, the banks still take homes away, and why….BECAUSE YOU LET THEM!
Hey, I know it’s rough out there. This whole economy thing has put a lot of good people in places they never thought they’d be, but that doesn’t mean that if you are facing foreclosure, you can just simply ignore the issue. It doesn’t work like that.
Whether there is actually light at the end of the economic tunnel usually depends upon your point of view. I know people who were hurting financially in 2008 and lost practically everything, only to have rebounded to come back stronger than ever and are once again moving in positive directions. On the other hand, people who held their own a few years ago are realizing that they can hardly hold on much longer and are in need of help. Negative situations are usually temporary and not long-term (as in forever), but it doesn’t help your situation to just sit on the sidelines when you indeed have choices.
Here’s the segue way (Did you see what I did just there)…
For example, did you know that if you are a homeowner and you are unemployed, that you may qualify for UP TO SIX MONTHS relief from your mortgage either through a temporary forbearance (Which means a temporary relief of payment) or special reduction in interest rate or mortgage payment for a set period of time? Did you know that in special circumstances, this program may be extended for up to one year on approved cases?
Now do you see why you should read my blog more often? 
Another example that most distressed homeowners forget about is that, rather than just pack up and walk away from your mortgage and have a foreclosure on your record (Which prevents you from qualifying for a conventional loan for UP TO SEVEN YEARS), that you may qualify for a short sale which will prevent a foreclosure and, upon approved credit, can put you back into a home in AS LITTLE AS TWO YEARS! Yeah, that’s right!
So if you’re facing financial hardship as a homeowner, or are facing foreclosure, don’t just ignore that 800lb. gorilla in the room. He doesn’t have the answers to these issues…I do! Contact me for a private, no-obligation consultation to discuss your options and alternatives to letting the bank take your home. I am a Certified Distressed Property Expert, and know how to help save your home from foreclosure.
For more information, go to http://Kaul4Homes.com, or call me direct at 661-209-7447. I’m here to help you get rid of that gorilla!
And I mean that in the nicest way possible!
I know I post a lot of articles about short sales. In those cases, sellers are in a completely different mindset with circumstances that are usually completely different than when a homeowner is selling their home in what we in the Real Estate biz call a “standard sale.”
A “standard sale” refers to a home selling situation where typically the homeowner is not in a distressed situation. Their home value is higher than their loan amount, and they stand to gain financially from the sale. Now that we have that out of the way…
Depending on your reasons for selling your home, as well as the length of time you have lived there, can affect your motivations for moving. For example, if you are moving UP (meaning into a larger or more expensive home), you may be more excited about moving as opposed to moving DOWN (Wherein you are selling your larger home and moving into a smaller one for whatever reason). Either way, when selling your home, the trick is to appeal to as many potential buyers as possible.
First and foremost, the listing price of your home is extremely important. We’ve discussed this in previous articles. How you price your home can make a difference in getting multiple offers vs. having it sit there on the market like a poor, lonely bump on a log.
Secondly, staging your home for showing to potential buyers is nearly as important as how you price it. Remember, you want to appeal to AS MANY buyers as possible. A lot of sellers try to stage their home to say “Welcome to OUR home,” when in reality, you should stage your home to say “Welcome to YOUR home.” Home buyers, upon walking in to your house, are already imagining themselves living there. If your home is too personalized with your own family photos, or other personal mementos, the potential buyer has to mentally overcome those challenges in order to continue to imagine themselves living there.
Also, consider neutral colors when staging your home. Hot pink may be YOUR favorite color, but it may not appeal to the senses of the average home buyer. Yes, THEY can always repaint, but again, they have to overcome the challenges of their own imagination in an effort to believe they want to live in THIS house, and not the one for sale down the street or across town. Remember, even in this economy, home buyers have PLENTY of choices. Custom colors can be a plus, unless they are outdated or extreme. Questions about colors and staging? Contact me!
Staging your home properly for sale can make the difference in how long it stays on the market.
No matter how big your home is, it’s much easier to “accentuate the positive” by making it look even bigger. Too many furniture pieces and/or other clutter around makes even the biggest home look cramped. Consider selling or storing extra pieces of furniture, coffee tables, etc. Clear bookcases of the extras you no longer read, clear kitchen and bathroom countertops of extra items you don’t regularly use (or put them in a spot where you can easily access them, then put away when through). I can’t stress enough ESPECIALLY in bathrooms how important it is to clear countertops of your personal items. Trust me!
We realtors like to overuse the term “Curb appeal”, but it’s true that a first impression is also the last impression. Make sure the front of your house is as appealing as possible. Manicured lawns, clean driveways, and clear paths to the house can make all the difference in whether your potential buyer wants to step inside to see the rest.
This is sometimes awkward to talk about, but how a home smells is very important. The sense of smell triggers memories and emotions almost as much as any of the other senses. Make sure garbage is taken out before showing the home, litterboxes are scooped, yards picked up after puppy does his…ahem…business, etc.
Lastly (and here’s the “get out of your own way” part), if you are home when a buyer stops by with his or her agent (NEVER let someone see your home without an agent!), step outside. The front yard is best, as the buyer has already seen it, and then they can stroll through your home and backyard imagining themselves making an offer and closing the deal…Which is ultimately what you want, right? If the weather does not permit going outside, find a spot out of the way. PLEASE don’t follow the buyers around, telling them every little detail about the house. Again, trust me on that one!
Do you have a home to sell in Santa Clarita? Are you looking to buy? How about both? I’m your realtor! You’re home with Lisa Kaul. Learn more by going to http://kaul4homes.com, or call me direct at 661-209-7447.
Stevenson Ranch, California is considered by some to be the “Gateway to Santa Clarita” as it sits at the edge of the Newhall Pass as you enter the Santa Clarita Valley.
While it is considered in the unincorporated part of Los Angeles County (And technically not part of the City of Santa Clarita), Stevenson Ranch residents can still consider themselves very much “SClaritans.”
With initial construction beginning in 1989, Stevenson Ranch is a planned family community featuring a variety of homes, schools,
parks, and open spaces that make living here a great choice, especially for families with children.
It’s location to schools, shopping, commuter accessways, and close proximity to downtown Santa Clarita (AKA “Awesometown”) is partly what makes it one of the most popular choices for anyone moving to the SCV.
No matter your budget, Stevenson Ranch has something to offer practically anyone who is considering buying a home. Condominiums average (as of this writing) around $229,000, and the median price for single family homes is between $450,000-$550,000. Single family homes range from the typical 3 bedroom/2 bath ranch-style home to the luxurious estates located in the Southern Oaks neighborhood.
Stevenson Ranch is close to many activities in the Santa Clarita Valley. It is literally minutes from Six Flags Magic Mountain, and if you’re into hiking and the outdoors, Ed Davis Park at Towsley Canyon features several trails with breathtaking vie
So if you’re considering a move, you might want to start with Stevenson Ranch. As your experienced Santa Clarita Valley realtor, I can help you explore all of your options and help find the perfect home for you.
Click here to search homes for sale in Stevenson Ranch.
For more information, go to http://kaul4homes.com, or call me direct at 661-209-7447.
It wasn’t so long ago that, in the real estate world, short sales and/foreclosure were few and far between. Before 2008, it was almost unheard of for anyone to lose their home when they could usually sell it with a capital gain to get themselves out of trouble. It’s not to say that there weren’t a share of distressed homeowners out there, but when a foreclosure happened, most everyone simply shook their heads and thought “Wow. How bad were they with their money to let THAT happen.”
Flash forward, and (unfortunately), short sales and foreclosures have become almost commonplace. In the Santa Clarita Valley alone, 63% of the inventory of homes for sale revolve around distressed properties (Either short sales or bank-owned properties). Now we know there’s been quite an economic kerfuffle that’s resulted in quite a few homeowners finding themselves very upside down on their mortgage along with either one or more persons in the household unemployed or having their income cut considerably. We are seeing our way through it, and while there are glimmers of hope on the horizon, the numbers don’t lie. 63%….Sigh.
Here’s where the story takes an interesting turn. In the past few years, a bumper industry has sprung up in “saviors” coming out of the woodwork to help those poor homeowners out of their financial woes. As you may or may not know, when a lender has filed a Notice of Default (N.O.D.) against a homeowner which is the first big step in the foreclosure process, it becomes part of the public record. Well, someone gathers that information up once it’s published and stores it in a database. There’s the FIRST bumper business…Selling lists of homeowners who are about to be thrown out of their homes.
Who buys these lists? Realtors, lenders, scam artists…What?
As a licensed realtor, I do have a legitimate concern regarding a homeowner’s distressed situation. I do market my services and have helped homeowners avoid foreclosure LEGALLY and with the blessings of the Department of Real Estate and the California Association of Realtors. I’m above board, like most of my colleagues, and we’re not out to exploit your situation.
But beware the offer that sounds too good to be true! As we know that old adage, “If it’s too good to be true…You’re gonna get screwed!” Wait, that’s not how that goes. The end result usually is the same, though.
When this whole housing mess started a few years ago, loan modification companies sprang out of nowhere claiming to help you negotiate a better deal with your lender. They usually wanted an upfront fee (Which even back then was illegal, but does a distressed homeowner know the law when they are desperately trying to save their home?), and rarely (less than 10%) got anyone the loan mod deal they wanted.
Now, the State of California has cracked down on many of those scams, but if you have received a solicitation from a company claiming they will help you stay in their home, remember that it is illegal for anyone to ask for money up front. There is a law on the books that loopholes the issue for attorneys who are engaged in the practice of foreclosure prevention (CA 2945), but even still, you don’t have to pay anyone up front if you don’t want to.
The best thing to do is to try and work with your lender first. They have the final say, and no matter what someone tells you, it ultimately is up to the lender as to whether they will deal with you or not.
Another ripoff gem hitting the mailboxes of distressed homeowners is the notion that companies (I’m not going to mention any names…Ahem…Bella, LLC *Cough cough*) can buy your home from you at or above fair market value, then RENT your home back to you at what would be the equivalent of the price of a one bedroom apartment, then offer to sell the home back to you after a 3 year lease agreement. This is what I call…A total SCAM! It involves magic math, and promises that these companies can’t possibly keep without the lender’s approval. RUN…don’t walk…Away from deals like this!
If you are in a financial situation that has put you at risk of losing your home, try contacting your lender directly first to see if there is anything that can be worked out. If you are unemployed and suffering financial hardship, there are new rules from Freddie Mac on the books that say your lender MUST try to work out a forbearance plan or reduction for at least six months.
If you don’t qualify for the Unemployment Forbearance Plan and you’re facing foreclosure, contact a real estate professional. Contact a professional who knows your area and knows how to deal with the banks, and understands the short sale process.
I am a certified short sale professional. I am also one who gives my clients the real deal as far as what their options are and what their expectations should be. I am qualified to answer your questions and steer you away from a bank foreclosure. You can learn more about me by going to http://kaul4homes.com/stop-foreclosure.htm or call me directly at 661-209-7447. No obligation, no arm-twisting, just common sense answers to your questions.
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