Cash is King – Upside Down Mortgage Solutions

April 29, 2008

Foreclosures Increase 245% In Northern California BUT!!!!

The Real Estate Market in California has hit bottom!  I stand by my numbers listed in my last posting.  If you take a closer look you will see demand increasing while supply is decreasing. (read it here) 

The Bank Owned Properties are still finding offers with nice down payments and they are limiting themselves to only a handful FHA transactions.  The FHA loan is the only loan in California that will allow for zero down payment outside CalHFA which is a much harder loan to process and get through underwriting. (see free report below) This leaves a very large group of people struggling to get their offers accepted and we are still seeing a huge number of open escrows in April.  

We expect this to continue throughout the summer as inventory will remain and those buyers who still need property will be getting their offers accepted later in the year when the great buyers start to go away. (get your offer accepted now see free report below)

If you want my FREE REPORT on “5 Reasons You Should Avoid CalHFA Loans!” please email me at Brent@brentlane.net with “CalHFA FREE REPORT!” as the subject!

I have one additional report that will help home buyers and Realtors get offers accepted in the market.  “The 3 Things Every REO Offer Needs to Get Accepted by the Bank” 

If you would like this FREE REPORT please email me at brent@brentlane.net with “REO OFFER REPORT” as the subject.

The link below will detail the increase in foreclosures and we can hope to see a steady stream of inventory which will lead to an increase in affordable property available for purchase by those who are looking for a good deal.

http://biz.yahoo.com/ap/080429/foreclosure_rates.html

 

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