Temecula, Murrieta, French Valley, Winchester Real Estate

Market Report for French Valley Winchester California September 2011

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Thu, 08 Sep 2011 20:32:09 -0400

This is a September 2011 market report for the French Valley area of Winchester California.

The past 5 months have been slower in volume than last year by almost 10%. Previous months sales were 84 compared with 92 during the same time period in 2010. There seems to be some significant amount of inventory not being released by banks with REO properties.

As for Average Price and Days on Market: The average price in French Valley has remained pretty flat over the last 24 months with the actual figure for last month coming in at $241,000. The Days on Market continues to dance around quite a bit. I believe it’s just a matter of how many short sales actually closed in a given month that causes it to swing up so dramatically.

Finally, here is a look at the different types of sales in French Valley over the last 30 days.

For more information on the different types of sales in our local market see our article:
What you should know about REO vs Standard vs Short Sale

For more about French Valley Click Here for French Valley Articles on our site

AND

Get involved with the community on Facebook. Click a link, search on Facebook or Scan the QR code.

Article originally posted on the AimREG.com blog

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

**Buyers - Contact David for a list of available homes!
**Sellers - Let me provide you with a comparable market analysis that will give you an idea of your home's current value. Even if your home's value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you. Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

What you should know about REO vs Standard vs Short Sale

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Thu, 08 Sep 2011 20:26:18 -0400

The homes for sale in Temecula, Murrieta and French Valley areas of Riverside county can be put into 3-4 main categories.

This image provides an example of the types of sales in French Valley Winchester California for the previous 30 day period.

1) Foreclosure properties. When a bank has taken a property back they refer it as Real Estate Owned or REO. When a borrower has missed several payments, the note provides a mechanism whereby a trustee authorizes the sale of that home at public auction (called a Trustee’s Sale) – the proceeds of which are applied to the outstanding balance of the note. If a minimum “reserve” amount is not met at the auction and it does not sell, ownership of the property is transferred to the lender and it becomes an REO. REO properties represent about 31% of the sales last month. Since ownership is clear and the bank’s decision maker has already been assigned to liquidate the property, these transactions can typically close 30-45 days from the acceptance of an offer.

2) Short Sale properties. When the home owner wants/needs to sell but there is not enough equity in the property to pay off the note(s) and the seller’s closing costs, the seller (through the listing agent) petitions the bank(s) to release the lien(s) on the property and the liability for the note for an amount that is less than the remaining balance on the note. The seller may or may not be in default on the note (if they’ve missed more than 3 payments). Because additional approvals need to be obtained from the seller’s lender, the seller will accept a purchase offer “Subject To” Short Sale approval(s)). Because the seller’s acceptance of an offer typically indicates the beginning of the approval process with the seller’s lender, these transactions can take 3-6 months to close. It’s also possible that the seller’s lender will not approve the Short Sale at all. Short Sale properties represent about 35% of the sales that closed last month.

3) Standard Sales. These can be broken into 2 groups. (Data on New Home sales is not always entered in the Multiple Listing Service database and represents a fairly small percentage of sales. So, it will not be addressed in this discussion.)

Standard, Owner Occupied, home owner sales. The owner has equity and is able to negotiate his own selling price. The owner is likely still living in the property. This was the “norm” up until 5 years ago. These transactions can typically close 30-45 days from the acceptance of an offer. These properties represent about 8% of recent closings.
Corporate owned. An investor has purchased a property (either at a Trustee’s Sale or from a bank as an REO in need of repairs). They typically put in new carpet and paint, make any other necessary repairs and then sell it right away. They, like the traditional standard home owner sale and the REO, are looking to sell for as much as the market will support. The owner has equity and is able to negotiate his own selling price. These transactions can typically close 30-45 days from the acceptance of an offer. These properties represent about 22% of the recent closings.

So What’s the Difference??

I actually got some unexpected results while doing the research for this article.

My assumption was that Short Sales would be “trading” for a little less in the market because of the difficulty associated with them on both the buyer’s side and the seller’s side. I was surprised to find out that they’re keeping pace with the REOs. As expected, Standard Sales (which have either been maintained due to pride of ownership or have had a corporate investment made in paint and carpet) are trending higher than REOs and Short Sales.

This chart represents sales in Temecula and Murrieta California that were 4 bedroom 3 bath and less than 3,000 Square Feet.

Originally posted on the AimREG.com blog

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Temecula Real Estate REO Market Report for April 2010 – Temecula, CA 92591/92592

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Mon, 12 Apr 2010 11:08:32 -0400

This is a Temecula Real Estate Market Report for MARCH 2010 with information about REO SALES in Temecula, California 92591-92592. This report does not include luxury properties priced over $500,000. For other Temecula Valley market reports go to http://aimreg.com/blog and use the Categories drop down menu to select the desired market reports.

The volume of activity for Single Family Residences includes 60 Active listings, 74 properties in escrow and 36 homes that have closed in the last 30 days. Recent activity for Condos includes 3 Active listings, 5 homes in escrow and 4 homes that closed in the last 30 days.

***********

Pricing activity for Single Family Residences in Temecula shows an average list price of $298,391 for Active listings and an average list price of $284,028 for properties in escrow. For SFRs that closed in the last 30 days the average LIST price was $263,833 , the average SALE price was $270,209 and the MEDIAN selling price was $255,000 . Pricing activity for Condos shows an average list price of $102,297 for Active listings and an average list price of $178,742 for those properties in escrow now. For Condos that closed in the last 30 days the average LIST price was $145,450 , while the average SALE price was $149,000 and the MEDIAN selling price was $149,000 .

***********

Price per square foot calculations show that for SFRs the average $/SF of Active listings is $124.86 /SF, for properties in escrow the average is $122.12 /SF and for properties that closed in the last 30 days the average was $127.47 /SF. For Condos the average $/SF of Active listings is $83.16 /SF, for Condos in escrow the average is $122.14 /SF and for condos that closed in the last 30 days the average was $111.15 /SF.

***********

Sellers and buyers are both interested in how long it takes to close an REO transaction in Temecula, CA these days. Most market reports will evaluate the Days On Market (DOM) figure but this number doesn't give a full picture of how long it's really taking to get an escrow closed. The DOM number counts the number of days the property is marketed but ignores how long everyone waited for bank approvals while it's in escrow. The wait has been increasing for both buyers (for approval on new financing) and sellers (for approval on a short sale). The following statistics include the usual DOM figure as well as a "Total Days" value which represents the total number of days since the property was listed.

For SFRs that have closed in the last 30 days, the average number of days the property was marketed was 25 while the average number of days from listing to closing was 62. For Condos that have closed in the last 30 days, the average DOM was 29 while the Total Days average was 77.

***********

This information is provided by Aim Real Estate Group Inc. and is intended for use by those who may want to buy or sell property in Temecula, California 92591/92592. Statistics presented here do not include manufactured homes, For Sale By Owner or New Construction. All information deemed reliable but is not guaranteed.

Contact Temecula Realtors (covering the entire Temecula Valley) for more information. Please call David Northup at (951) 326-0196 to speak with a listing agent, for a list of available properties or to schedule a tour of Temecula homes for sale that interest you!

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Temecula Real Estate Short Sale Market Report for April 2010 – Temecula, CA 92591/92592

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Mon, 12 Apr 2010 10:46:42 -0400

This is a Temecula Real Estate Market Report for APRIL 2010 with information about SHORT SALES in Temecula, California 92591-92592. This report does not include luxury properties priced over $500,000. For other Temecula Valley market reports go to http://aimreg.com/blog and use the Categories drop down menu to select the desired market reports.

The volume of activity for Single Family Residences includes 332 Active listings, 176 properties in escrow and 49 homes that have closed in the last 30 days. Recent activity for Condos includes 35 Active listings, 18 homes in escrow and 8 homes that closed in the last 30 days.

***********

Pricing activity for Single Family Residences in Temecula shows an average list price of $269,829 for Active listings and an average list price of $266,078 for properties in escrow. For SFRs that closed in the last 30 days the average LIST price was $270,851 , the average SALE price was $267,531 and the MEDIAN selling price was $259,000 . Pricing activity for Condos shows an average list price of $148,323 for Active listings and an average list price of $126,665 for those properties in escrow now. For Condos that closed in the last 30 days the average LIST price was $139,800 , while the average SALE price was $131,409 and the MEDIAN selling price was $138,138 .

***********

Price per square foot calculations show that for SFRs the average $/SF of Active listings is $116.94 /SF, for properties in escrow the average is $115.57 /SF and for properties that closed in the last 30 days the average was $118.98 /SF. For Condos the average $/SF of Active listings is $102.76 /SF, for Condos in escrow the average is $99.56 /SF and for condos that closed in the last 30 days the average was $102.48 /SF.

***********

Sellers and buyers are both interested in how long it takes to close a Short Sale transaction in Temecula, CA these days. Most market reports will evaluate the Days On Market (DOM) figure but this number doesn't give a full picture of how long it's really taking to get an escrow closed. The DOM number counts the number of days the property is marketed but ignores how long everyone waited for bank approvals while it's in escrow. The wait has been increasing for both buyers (for approval on new financing) and sellers (for approval on a short sale). The following statistics include the usual DOM figure as well as a "Total Days" value which represents the total number of days since the property was listed.

For SFRs that have closed in the last 30 days, the average number of days the property was marketed was 123 while the average number of days from listing to closing was 218. For Condos that have closed in the last 30 days, the average DOM was 120 while the Total Days average was 169.

***********

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Temecula Real Estate Standard Sale Market Report for April 2010 – Temecula, CA 92591/92592

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Mon, 12 Apr 2010 10:01:29 -0400

This is a Temecula Real Estate Market Report for APRIL 2010 with information about STANDARD SALES in Temecula, California 92591-92592. This report does not include luxury properties priced over $500,000. For other Temecula Valley market reports go to http://aimreg.com/blog and use the Categories drop down menu to select the desired market reports.

The volume of activity for Single Family Residences includes 74 Active listings, 60 properties in escrow and 46 homes that have closed in the last 30 days. Recent activity for Condos includes 7 Active listings, 2 homes in escrow and 4 homes that closed in the last 30 days.

***********

Pricing activity for Single Family Residences in Temecula shows an average list price of $332,645 for Active listings and an average list price of $300,610 for properties in escrow. For SFRs that closed in the last 30 days the average LIST price was $290,047 , the average SALE price was $286,476 and the MEDIAN selling price was $287,950 . Pricing activity for Condos shows an average list price of $191,527 for Active listings and an average list price of $199,450 for those properties in escrow now. For Condos that closed in the last 30 days the average LIST price was $142,400 , while the average SALE price was $138,750 and the MEDIAN selling price was $138,750 .

***********

Price per square foot calculations show that for SFRs the average $/SF of Active listings is $139.65 /SF, for properties in escrow the average is $133.61 /SF and for properties that closed in the last 30 days the average was $130.53 /SF. For Condos the average $/SF of Active listings is $127.09 /SF, for Condos in escrow the average is $68.13 /SF and for condos that closed in the last 30 days the average was $118.46 /SF.

***********

Sellers and buyers are both interested in how long it takes to close a transaction in Temecula, CA these days. Most market reports will evaluate the Days On Market (DOM) figure but this number doesn't give a full picture of how long it's really taking to get an escrow closed. The DOM number counts the number of days the property is marketed but ignores how long everyone waited for bank approvals while it's in escrow. The wait has been increasing for both buyers (for approval on new financing) and sellers (for approval on a short sale). The following statistics include the usual DOM figure as well as a "Total Days" value which represents the total number of days since the property was listed.

For SFRs that have closed in the last 30 days, the average number of days the property was marketed was 29 while the average number of days from listing to closing was 63. For Condos that have closed in the last 30 days, the average DOM was 59 while the Total Days average was 113.

***********

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Loan Modifications Fail to Stem Tide of Foreclosure

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Fri, 02 Apr 2010 11:01:10 -0400

Low participation in HAMP and homeowners who aren't really out of the woods when the Loan Mod is done mean more foreclosures ahead.

Thanks to Dave Rosenmarkle for the following details.

Via Dave Rosenmarkle (Highland Realty):

The government’s Mortgage Metrics Report by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) reveals that half of the loans modified under HAMP at the beginning of 2009 were once again delinquent by the fourth quarter of 2009.

Fully 14% of all mortgage loans were delinquent by the end of 2009 according to this report. There were twice the modifications in the fourth quarter as occurred the same quarter a year before. Most payments were reduced by at least 20%.

New foreclosure filings fell 15% in the fourth quarter as mortgages remained delinquent for a longer period of time before foreclosure notice of default is filed. Servicers expect foreclosure filings to increase again in the coming months as homeowners exhaust their options for modification.

Dave Rosenmarkle

Broker/Owener

Highland Realty

Arlington, VA 22207

703-538-2566

davidrose@mris.com

www.HighlandAgents.com

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Loan Modifications in Murrieta, CA - Are they happening?

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Fri, 02 Apr 2010 10:17:38 -0400

Owners of Murrieta Real Estate in Murrieta, CA who want to Stop Foreclosure may eligible for a loan modification under the Making Home Affordable - Home Affordable Loan Modification Program (or HAMP).

HAMP modification steps are:

First, reduce the interest rate to as low as 2%,
Next, if necessary, extend the loan term to 40 years,
Finally, if necessary, forbear (defer) a portion of the principal until the loan is paid off and waive interest on the deferred amount.

Note: Servicers may elect to forgive principal under HAMP on a stand alone basis or before any modification step in order to achieve the target monthly mortgage payment.

With all the stories out there about the difficulties homeowners have had in trying to get a loan modification you may be wondering if your lender is even doing loan mods.

Are you interested in knowing if your bank is participating in the efforts to do Loan Modifications under the HAMP program?

The chart below shows a percentage of Active Trial Modifications or Permanent Loan Modifications done by each bank with regard to the total number of loans that are eligible under HAMP guidelines.

The results may surprise you.

It's pretty clear that while GMAC is not the biggest servicer, they are doing more loan modifications per loan they service than any other bank. It's also pretty clear that while Wachovia has become a Listing Agent's favorite bank to work with on a Short Sale (see my post on that topic here - Wachovia / Wells Fargo reaching out to Temecula Homeowners), they are far more interested in doing Short Sales (and foreclosures) than HAMP loan modifications.

For more statistics and to view my complete report, you can see it here - Making Home Affordable - The banks get another report card

If you're looking for a good company to help you with your Loan Modification, contact me. I don't do them myself but I can make sure you get teamed up with a reputable company that only gets paid at the end if they're successful in getting you the loan modification.

-Temecula CA Real Estate Pros

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Loan Modifications in Winchester, CA 92596 - Are they happening?

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Fri, 02 Apr 2010 10:09:28 -0400

Owners of Winchester Real Estate in Winchester, CA 92596 who want to Stop Foreclosuremay eligible for a loan modification under the Making Home Affordable - Home Affordable Loan Modification Program (or HAMP).

HAMP modification steps are:

First, reduce the interest rate to as low as 2%,
Next, if necessary, extend the loan term to 40 years,
Finally, if necessary, forbear (defer) a portion of the principal until the loan is paid off and waive interest on the deferred amount.

Note: Servicers may elect to forgive principal under HAMP on a stand alone basis or before any modification step in order to achieve the target monthly mortgage payment.

With all the stories out there about the difficulties homeowners have had in trying to get a loan modification you may be wondering if your lender is even doing loan mods.

Are you interested in knowing if your bank is participating in the efforts to do Loan Modifications under the HAMP program?

The chart below shows a percentage of Active Trial Modifications or Permanent Loan Modifications done by each bank with regard to the total number of loans that are eligible under HAMP guidelines.

The results may surprise you.

For more statistics and to view my complete report, you can see it here - Making Home Affordable - The banks get another report card

-Temecula CA Real Estate Pros

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Making Home Affordable - The banks get another report card

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Wed, 31 Mar 2010 21:23:44 -0400

According to the most recent Servicer Performance Report, there has been a dramatic increase in the number of loans modified under the Home Affordable Loan Modification Program or (HAMP). The HAMP program is part of the Making Home Affordable Program launched by the Obama Administration in February 2009.

So how are the banks doing? What level of participation are different banks demonstrating?

Let's take a look.

First an overview of the entire program. Here are some interesting statistics:

The number of permanent loan modifications is up by 45% since last month
More than 170,000 permanent modifications have been done (guaranteed lower payments for 5 years).
91,800 additional modifications have been approved and are pending borrower's approval/acceptance
Over 1,300,000 borrowers have received Trial Modification Offers
Median Savings for borrowers that received a permanent loan modification = $518/month
Making Home Affordable has a goal of offering 3-4 million homeowners loan modifications by Dec. 2012.
1,300,000 offers to date

Of the permanent modifications that have been done so far:

100% had an interest rate reduction
40.8% had the term extended
27.8% had some sort of principal forbearance

The Hardship reasons for permanent modification were:

57.4% Loss of income
10.8% Excessive Obligations
2.7% Illness

So how do individual banks compare?

One of the biggest questions homeowners have is "What are my chances of getting a loan modification with ------ Bank?". Here's how the different banks compare.

Here are the total numbers by servicer.

Here is a look at the types of Investors behind the loans that have been modified.

And one last chart to show the MSAs with the highest HAMP activity.

The numbers show that my area of Riverside/San Bernardino/Ontario is 5th in the nation with regard to HAMP activity.

If you want to see the entire report you can access it from my site at http://aimreg.com/-hamp.asp on the left sidebar. As of this post, the Feb 2010 report is the most recent.

-Temecula CA Real Estate

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Wachovia / Wells Fargo reaching out to Murrieta Homeowners

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Sat, 27 Mar 2010 19:27:22 -0400

Wachovia has been very aggressive in recent months, training some Murrieta Realtors® to work within the system they've set up to Fast-Track qualifying Short Sales. They've also sent out over sixty-six thousand packages to borrowers who are struggling with their payments, notifying them of their Fast-Track program.

Owners of Murrieta Real Estate who are having a tough time paying their mortgage (or even those who can forecast a hardship in the near future) are advised to seek the help of a Wachovia Fast-Track Trained Realtor® who can help them understand their options.

Benefits to the seller include:

Quick approval of hardship (3-4 days)
Quick approval of sale price and purchase offer (5-7 days)
Offer approval good for 30 days - Extensions are easy
YOU DO NOT HAVE TO BE DELINQUENT
DEFICIENCY IS RELEASED
May be eligible to receive "Cash for Keys" payout
Okay for investor to purchase and rent back (But the investor may not be a family member.)

Qualifying loans may have been originated by one of the following lenders:

Golden West Financial
World Savings
Wachovia

Contact Aim Real Estate Group to speak with a Wachovia Fast-Track Trained Realtor® and see if this might be the right option for you!

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Wachovia / Wells Fargo reaching out to Winchester Homeowners

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Sat, 27 Mar 2010 19:30:21 -0400

Wachovia has been very aggressive in recent months, training some Winchester Realtors® to work within the system they've set up to Fast-Track qualifying Short Sales. They've also sent out over sixty-six thousand packages to borrowers who are struggling with their payments, notifying them of their Fast-Track program.

Owners of Winchester Real Estate who are having a tough time paying their mortgage (or even those who can forecast a hardship in the near future) are advised to seek the help of a Wachovia Fast-Track Trained Realtor® who can help them understand their options.

Benefits to the seller include:

Quick approval of hardship (3-4 days)
Quick approval of sale price and purchase offer (5-7 days)
Offer approval good for 30 days - Extensions are easy
YOU DO NOT HAVE TO BE DELINQUENT
DEFICIENCY IS RELEASED
May be eligible to receive "Cash for Keys" payout
Okay for investor to purchase and rent back (But the investor may not be a family member.)

Qualifying loans may have been originated by one of the following lenders:

Golden West Financial
World Savings
Wachovia

Contact Aim Real Estate Group to speak with a Wachovia Fast-Track Trained Realtor® and see if this might be the right option for you!

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Wachovia / Wells Fargo reaching out to Temecula Homeowners

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Sat, 27 Mar 2010 19:22:24 -0400

Wachovia has been very aggressive in recent months, training some Temecula Realtors® to work within the system they've set up to Fast-Track qualifying Short Sales. They've also sent out over sixty-six thousand packages to borrowers who are struggling with their payments, notifying them of their Fast-Track program.

Owners of Temecula Real Estate who are having a tough time paying their mortgage (or even those who can forecast a hardship in the near future) are advised to seek the help of a Wachovia Fast-Track Trained Realtor® who can help them understand their options.

Benefits to the seller include:

Quick approval of hardship (3-4 days)
Quick approval of sale price and purchase offer (5-7 days)
Offer approval good for 30 days - Extensions are easy
YOU DO NOT HAVE TO BE DELINQUENT
DEFICIENCY IS RELEASED
May be eligible to receive "Cash for Keys" payout
Okay for investor to purchase and rent back (But the investor may not be a family member.)

Qualifying loans may have been originated by one of the following lenders:

Golden West Financial
World Savings
Wachovia

Contact Aim Real Estate Group to speak with a Wachovia Fast-Track Trained Realtor® and see if this might be the right option for you!

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

New Foreclosure Prevention measures are in the works

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Sat, 27 Mar 2010 17:15:53 -0400

Recent reports indicate that President Obama will announce more measures to prevent foreclosures throughout the U.S.

The new plan encourages the Federal Housing Administration to insure lenders against part of the losses they'll sustain after reducing the principal balances on borrower's notes.

Lenders will be asked to bring the note balance down below the homes current value. When there is a 1st and a 2nd the guidelines will permit no more than a 115% LTV after the note balances are reduced.

Also in the plan is a provision for the Treasury to pay a portion of an unemployed homeowner's loans for up to three months while they look for a new job.

We'll keep an eye out for this one and let you know when/if it gets implemented.

-Temecula Realtors®

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Winchester Real Estate buyers may get up to $10,000 in CA Tax Credit

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Sat, 27 Mar 2010 16:41:43 -0400

First time home buyers of Winchester Real Estate will be happy to learn of a new tax credit they may be able to claim in conjunction with the purchase of their new home.

If buyer's were shopping last year they may remember that there was a California tax credit in 2009 as well. One of the major differences between this new program and the one from 2009 is that this program is for the purchase of ANY home and is NOT LIMITED to the purchase of new construction. Even though it was limited to new construction, the program in 2009 was so successful that they ran out of funds 8 months before the program was scheduled to end.

AB 183 (signed by Governor Schwarzenegger last week) allocates $200,000,000 to be split equally between buyers of existing homes and buyers of new or previously unoccupied homes.

This program applies to purchases between May 1, 2010 and July 31, 2011 (but you must be on contract by no later than December 31, 2010 to qualify).

The new First Time Home Buyer California Tax Credit will allow eligible buyers to claim either 5% of the home's purchase price or $10,000 (whichever is less). The tax credit can be taken in 3 equal installments taken over 3 consecutive years and requires that the purchaser live in the home as their principal residence for 2 years. If the 2 year occupancy requirement is not met, any credit taken would have to be repaid to the state.

*** Other Restrictions apply ***

Please contact your Temecula Realtors®(serving all of the Temecula Valley) for more information.

-----------------------------

The Federal Home Buyer Tax Credit program is set to expire April 30, 2010. (As long as a binding contract is in place, the closing can take place on or before June 30, 2010 and still qualify.)

-Winchester Real Estate Pros

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process

Murrieta Real Estate buyers may get up to $10,000 in CA Tax Credit

David Northup (David Northup - Aim RE Group Inc, Temecula Realtors® (AIM)) — Sat, 27 Mar 2010 16:38:23 -0400

First time home buyers of Murrieta Real Estate will be happy to learn of a new tax credit they may be able to claim in conjunction with the purchase of their new home.

AB 183 (signed by Governor Schwarzenegger last week) allocates $200,000,000 to be split equally between buyers of existing homes and buyers of new or previously unoccupied homes.

This program applies to purchases between May 1, 2010 and July 31, 2011 (but you must be on contract by no later than December 31, 2010 to qualify).

*** Other Restrictions apply ***

Please contact your Temecula Realtors®(serving all of the Temecula Valley) for more information.

-----------------------------

The Federal Home Buyer Tax Credit program is set to expire April 30, 2010. (As long as a binding contract is in place, the closing can take place on or before June 30, 2010 and still qualify.)

-Murrieta Real Estate Pros

********* 25% commission rebates through December 2011 - More Savings $$$ **************

David Northup - Broker, Realtor®,Owner
Aim Real Estate Group Inc., Temecula Real Estate

"Providing Direction For Buyers and Sellers"
& Delivering "Raving Fan" Customer Service in the process