Four Seasons Realty: California: Pacific Beach

Hello and Welcome to Mission Beach~ San Diego California Foreclosure Auction Search, Bank Owned Foreclosure Homes for Sale & Real Estate.

Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding.  Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone?   We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.  Once you understand the processes, you may find that it's right or not right for your current situation.

Understanding the process is the key, and here is how the process goes as a brief overview:

Pre-Foreclosure (Also known as Notice of Default).  Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage.  Their current lender files with the County Recorders office a Notice of Default.  When this is filed, this information becomes a matter of public record.  When this notice is filed the lender usually gives the homeowner 90 days to come current on the amound they are past due.  During this period many homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship.  Both of these approaches often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit.  To learn more about Pre-Foreclosures in Mission Beach and actually search Pre-Foreclosures in Mission Beach for free click the yellow map.   If you may be facing a foreclosure on your current home, please feel free to contact us for a no obligation consultation of your situation.

Foreclosure Sale (Alo known as Notice of Trustee Sale).  The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues.  Although, most of the time this step is  being delayed currently.  Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located.  In this case, most auctions take place in Downtown, San Diego at the courthouse at 220 West Broadway.  Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check.  In many cases the winning bidder of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process.   However, even though its a riskier process, the reward can be great.  To learn more about Foreclosure Sales In Mission Beach and Search upcoming properties scheduled for Foreclosure click the yellow map below.

Bank Owned (REO).  Bank owned foreclosure properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale.  In this case, the current lender has to buy them back if there are no acceptable bids.  This can also be a great area for an investor, because in most all cases, the lender does not want to own these properties.  These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these.  You also don't have to pay cash on the spot for these homes and you will have time to do inspections.  To learn more about Bank Owned Foreclosure listings in Mission Beach click here.

Re-Sale Properties.  Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there.  This is actually not true in many cases.  Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market.  In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work.  Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards, that actually makes it the same deal as a re-sale.   This makes many Re Sales a great option as well.  To learn more about Re Sale Homes for Sale in Mission Beach click here.

Ultimately, the decision should come down to what is right for you and your situation.  We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above.  To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Mission Beach click here.

We also attend the Foreclosure Auctions for San Diego County on a weekly basis and track virtually every Foreclosure property in San Diego County!   If you are interested in buying at the auctions or Bank Owned Foreclosures, give me a call and I can walk you through the process over the phone!

We look forward to hearing from you!

Hello and Welcome to Pacific Beach~ San Diego California Foreclosure Auction Search, Bank Owned Foreclosure Homes for Sale & Real Estate.

Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding.  Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone?   We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.  Once you understand the processes, you may find that it's right or not right for your current situation.

Understanding the process is the key, and here is how the process goes as a brief overview:

Pre-Foreclosure (Also known as Notice of Default).  Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage.  Their current lender files with the County Recorders office a Notice of Default.  When this is filed, this information becomes a matter of public record.  When this notice is filed the lender usually gives the homeowner 90 days to come current on the amound they are past due.  During this period many homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship.  Both of these approaches often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit.  To learn more about Pre-Foreclosures in Pacific Beach and actually search Pre-Foreclosures in Pacific Beach for free click the yellow map.   If you may be facing a foreclosure on your current home, please feel free to contact us for a no obligation consultation of your situation.

Foreclosure Sale (Alo known as Notice of Trustee Sale).  The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues.  Although, most of the time this step is  being delayed currently.  Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located.  In this case, most auctions take place in Downtown, San Diego at the courthouse at 220 West Broadway.  Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check.  In many cases the winning bidder of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process.   However, even though its a riskier process, the reward can be great.  To learn more about Foreclosure Sales In Pacific Beach and Search upcoming properties scheduled for Foreclosure click the yellow map below.

Bank Owned (REO).  Bank owned foreclosure properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale.  In this case, the current lender has to buy them back if there are no acceptable bids.  This can also be a great area for an investor, because in most all cases, the lender does not want to own these properties.  These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these.  You also don't have to pay cash on the spot for these homes and you will have time to do inspections.  To learn more about Bank Owned REO listings in Pacific Beach click here.

Re-Sale Properties.  Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there.  This is actually not true in many cases.  Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market.  In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work.  Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards, that actually makes it the same deal as a re-sale.   This makes many Re Sales a great option as well.  To learn more about Re Sale Homes for Sale in Pacific Beach click here.

Ultimately, the decision should come down to what is right for you and your situation.  We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above.  To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in Pacific Beach click here.

We also attend the Foreclosure Auctions for Pacific Beach on a weekly basis and track virtually every Foreclosure property in San Diego County!   If you are interested in buying at the auctions or Bank Owned Foreclosures, give me a call and I can walk you through the process over the phone!

We look forward to hearing from you!

Short Sale Process Explained - Pacific Beach California - Short Sale my Home

Do you think you are in a potential short sale situation?  Do you know your options?   You do have them...

Overview:   Short sales typically occur when a borrower is in a situation where the home is worth less than what is owed to the lender on the property.   In some cases depending on the borrowers situation, the lender may approve a short sale which allows the property to be sold for less than the amount owed.   In this case the lender approves the short sale and takes less, and the borrower is no longer responsible to pay the loan.   In some cases the lender can ask that the borrower take back a loan to pay the deficiancy amount between what was owed and what the property sold for.   However, in many cases, this can be avoidable and the borrower can walk away and in return the lender can sell the home and get their money out.    

The Process:   The Short sale process unfortunately can take some time, 2 to sometimes 6 months.   The bank will want to review the borrowers situation, see that there has been some form of hardship, the lender will want the property to be listed on the market by a Real Estate agent, and will want to review offers.   Once an offer is received for the property, the bank will then usually order an appraisal.   Once the lender reviews the appraisal, the offer, and the client's paperwork, the lender will then either approve or deny the short sale.    If the short sale is approved, the lender will usually issue a short sale approval letter.   This letter will outline the price the lender will accept and terms.   It usually will always have an expiration date to which a new approval will have to then be rendered or they may cancel the short sale all together.   To learn more about the short sale process click here.

Who may qualify?:  Typically people who are in some form of financial hardship or have had some change in income or assets who no longer can financially afford to pay the loan may qualify for a short sale.   If you may be in a situation like this, you owe it to yourself to give us a call, we may be able to help.

How does this help or hurt my situation?:   While performing a short sale may have an adverse effect on your current credit situation; the short to long term benefits may highly outweigh it going to foreclosure.   Foreclosures effect you for up to 7 years, while in many cases, you can recover from a short sale much quicker!  

What if I have been declined for a loan mod?   Many borrowers have tried to do loan modifications without much success.    If you have been declined for a loan modification, this does not mean you wouldn't get approved for a short sale.  It may be that your income has changed since you bought the home that they declined the loan modification, however this could be a good sign that they would approve a short sale due to the hardship financially.

What are the next steps?:  The first step is to contact us.   We can give you a no obligation consultation regarding your current situation to see if a short sale may be right for you.   We are highly experienced in handling short sales and are we are standing by ready to help!   Don't wait til it's too late!   Call us or click here.

If you are interested in purchasing short sales in Pacific Beach or other cities you can view all active short sale listings on our website by clicking here.

Hello and Welcome to Pacific Beach California~Sell my Home~ List my Home ~Short Sale~ Realtors~ Listings Agents.

Are you looking to potentially Sell or list your home in Pacific Beach California in this market?   Here are some imporant points to think of when looking for the right listing agent or Real Estate company in this market.  Most of the time the reason a home will sell quickly is marketing over price.   Having the right marketing strategy to sell your home quickly and for top price is crucial these days.  There is a good chance the reason you are reading this is because you found us on one of the top pages on one of the major search engines below:  This could be your home that people are finding on the top pages!

It is of the utmost importance these days to find a Realtor with a solid internet strategy.  According to many studies, close to 85% of people start searching for their next home purchase online.   This means it is very important to have a listing agent that has a very strong online marketing strategy and background to sell your home.   Your Listed Home should be Found on one of the top spots of Google, Yahoo, or Bing, and syndicated to many other top sites! Most listing agents have no idea how to aggresively pursue a strong online marketing campaign.  We score on the first page of Google and other search engines  for hundreds of categories and seach terms.  When many potential buyers can easily find your home online, the chances of them coming to see it are much greater!  We also syndicate our listings on many of the top Real Estate sites such as Zillow, Realtor.com, Homes.com, Craigslist, Sandicor, Popular blogs, Facebook, Twitter, Youtube, Four Seasons Realty Website, etc, to get the maximum amount of exposure to sell your home quickly and for top dollar..

It is important to find a Realtor to List your home who personally works with many active buyers.   Working with active buyers is a very important step in this market.  In a good economy, Realtor's can take listings, put them on the MLS, type up a few flyers and sit back and wait for other agents to bring them offers.   Many Realtors are strictly listing agents and don't actively look for buyers on their own.   They just try to price the property so aggresively that it will get a lot of activity, but a solid marketing campaign along with working with active buyers can help get you a much higher return when selling your home.   At Four Seasons Realty we are currently working with several hundred pre-approved buyers which include many in Pacific Beach California and we would love to talk to you further about listing your home and bringing one of our qualified buyers to you.  To learn about our active buyers for Pacific Beach California click here.

Short Sale Listings:  This is another step in which it is very important to work with a specialist who is familiar with the short sale process.   If you are potentially in this situation, you definitely want an agent who understands how to work with the banks directly, knows what paperwork they will require, and how to push through to get a deal done.   Most agents fail at short sale listings because they are not familiar with the process.   We have succesfully closed a very high percentage of short sale properties we have taken on due to our background and knowledge of working with the banks directly and staying on top of them.   If you may potentially be in a short sale situation, we would be happy to speak with you further, please call or visit us here.

For a free consultation and proposal of our marketing strategy for listing and selling your home, please call us at 858-380-2005 and ask for Cody.   I will be happy to show you some of our Google results, discuss our marketing strategy, and run a free Market analysis on listing and selling your home.   Who know's, I may already have a qualified buyer for your home who's ready to write you an offer!   I look forward to hearing from you soon.   To visit me online, please click here.

Hello and welcome to Pacific Beach California Homes for Sale, Foreclosures, Auctions, REO, Short Sale Property.

September 16, 2009

Real Estate Silver lining or still too early to tell? Lets look at the numbers of the recent activity to see...

August 2009 Foreclosure, REO, and Short Sale update.

According to Foreclosure Radar (A service which tracks every single foreclosure daily in the state of California) in the month of August Foreclosure notices in the state of California saw a decline while foreclosure sales rose in the state of California.

Sales at the actual foreclosure auction rose by 3.4 percent overall to 17,289 sales.  According to estimates foreclosure sales sold to third party investors at an average of a 29.7% discount from estimated market value.

Notices of default dropped by an estimated 19.1% from the record level set the in June.  Notices of Trustee sale (Foreclosure Auction) decreased by 15.1% from the prior month.

Although it's too early to tell if this will be a trend its important information to consider and keep an eye on.

Some important bullet points to consider:

• Notice of defaults still remain at close to record highs.  To search Pre-Foreclosure Properties in Pacific Beach California and other San Diego cities click here.

• Nearly 90 percent of the foreclosed loans for the month of May were originated between January of 2005 and December of 2007.

• Lenders took back roughly 14,327 foreclosures in which no third party bid was received.  These properties become REO inventory (Real Estate Owned), and then are usually listed with Real Estate agents or sold at third party auctions.  To search current REO inventory in Pacific Beach California and other San Diego cities click here.

• The percentage of total properties sold at foreclosure auction still remains pretty low compared to the overall amount of homes for sale going through the auction at only 19% with 81% going back to the lender.

• San Diego county for the month of May saw Notice of Defaults at 2,855, Notice of Truste Sales         (Auctions) at 2,623, and Sales at auction of 1305.   To search Pre-foreclosures, Foreclosures, and property which went back to the lenders in Pacific Beach California and other San Diego cities click here.

 So what does this all mean?  There are still many foreclosures coming down the pipe and foreclosure activity is still at close to record levels.  However, sales volumes are now starting to turn around.  San Diego County sales volumes were up substantially last month compared to August of 2008.  Many first time and value buyers are now stepping back into the market.  The many incentives such as the $8,000 tax credit, low interest rates and decade low prices (for many areas) are making this a great time to purchase for many people.  To learn more about properties for sale in Pacific Beach California and other San Diego cities click here.

Click the yellow map below to view Homes for Sale, Pre-Foreclosures, Foreclosures, Auctions, REO, Short Sale, and the entire San Diego County MLS.

At Four Seasons Realty, we track most every Foreclosure in San Diego County and attend the auctions on a weekly basis. We also come across many off market opportunities as well.  To learn more about foreclosures in San Diego, please visit our fully integrated Real Estate Website at www.fourseasrealty.com,  where you can search all active pre-foreclosures, foreclosures, auction, short Sale, and REO listings along with the entire San Diego county MLS.

You can also sign up for our free Property watch service which will automatically keep you updated of any new listings that fit your guidelines or any price changes!

We Look Forward to Hearing From you!