Rancho Del Oro Real Estate 04/01/2011

Apr 1, 2011

In Rancho Del Oro the average active listed home is at $358,000 has 3 bedrooms and 3 bathrooms, and is 1,863 sqft. at about $193.24 per square foot.

The average pending home is listed at $353,000, has 4 bedrooms and 3 bathrooms, and is 1,876 sqft. at about $190.45 per square foot.

The average home sold in last six months sold for $348,000 and has 4 bedrooms and 3 bathrooms, and is 1,850 sqft. at about $192.15 per square foot. The average days on the market are approximately 58 days.

According to statistics on Foreclosure Radar there are 120 homes in pre-foreclosure scheduled to go to foreclosure in the next 90 days in Rancho Del Oro.

Important Fact: According Tara-Nicholle Nelson’s article “Five Tax Tips, Tricks and Traps for Homeowners” the Mortgage Debt Forgiveness Relief Act of 2007 which exempts distressed homeowners from tax consequences of relieved debt is only around through 2012. It may be time to reassess your financial situation and see if a loan modification or short sale may be the right financial decision for you and your family . If you want to read more information regarding this please refer to following link http://www.walletpop.com/2011/02/28/five-tax-tips-tricks-and-traps-just-for-homeowners/ and contact your tax professional.

2011 Foreclosure mess… Worst year yet?

Jan 19, 2011

Due to the dramatic decrease in property values over the last three years millions of Americans have found themselves in an increasingly hopeless situation. The American dream of one’s home being the most lucrative investment seems long gone. Many homeowner‘s find themselves wondering which course of action is the quickest road to financial recovery. As a responsible adult which is the best financial decision for your family?? Should you consider letting your home go risking your credit history of faithfully making all your payments on time, will you qualify for a loan modification, or would it be best to continue making payments even though your home is underwater and hope for the best ? [ read more ]

No Cali. Short Sale Deficiencies

Oct 5, 2010

Ladies and gentleman there is light at the end of the tunnel for underwater and distressed homeowners looking to pursue a short sale! Starting January 1, 2011, a seller‘s first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. [ read more ]

North County Foreclosures “a sleeping giant?”

Oct 4, 2010

FORECLOSURES in North County “a sleeping giant” lenders become more aggressive to foreclose…..

Some would look to the greener side of the fence when you consider the decline of defaulted mortgages in Southwest Riverside and in North San Diego counties over the last 14 months.  But many believe this decline is in response to the loan modification and home retention hype over the last 18 months that allowed more than 1 million homeowners nationwide to get into trial modification programs, in which they made reduced mortgage payments while lenders assessed borrowers’ ability to pay.

The programs, combined with a 30 percent rebound in North County home prices and 10 percent in Southwest Riverside County, helped lower foreclosure rates in the region over the last year and a half by 81% in Southwest County and 83% in North County. [ read more ]

WHAT IS A VA LOAN?

Sep 30, 2010

WHAT IS A VA LOAN?
The VA Loan became known in 1944 through the original Servicemen’s Readjustment Act also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment. [ read more ]