Want to reduce your mortgage payment? Here’s how.

For some time now I have been totally frustrating paying 6.5% every month on my mortgage payments.  So I finally decided to do something about it this month.  After making my July payments I decided to call my mortgage holders to see if I could get some relief.  I first called Citi Mortgage.  They determined that I had a Freddie Mac loan and yes, they could help me.  They lowered the interest from 6.5 to 4.25% a month, a savings of around $300. a month.  I then called GMAC and found out the same things a Freddic Mac loan but they could lower the interest to 3.99%!  I was over joyed.  Another savings of almost $600. a month.  I then called Bank of America.  Sorry, not a Fannie Mae nor a Freddie Mac loan so they would do NOTHING at all.  I questioned several times, “there must some program they have for people like myself ” but that went nowhere fast.  So, while I am totally frustrated with BofA, and I let them know when they sent me a survey, I am happy two of these were thrilled to work with me.  The down side is they are so overwhelmed even with these streamlined loan modifications, they are taking 60-90 days.  Bummer but worth the wait.  There are websites you can go to to see what kind of loan you have but I found them unreliable.  My suggestion is to call your lender directly to see  if you have a Freddie or Fannie loan and if so, what they can do for you.  This could mean the difference between losing or saving your home.  You do have to be current with your loan and they do check your credit.  You can be upside down on the loan to value so I really encourage you to make the call and see if your lender can help reduce your mortgage payment.  The whole process takes about 30 minutes and you get the loan papers right away!  This is know as the H.A.R.P. Program, Home Affordable Refinance Rpogram.  Good luck, let mw know what your experiences are!

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462 Edwards Street Update

Well after four months the bank has finally accepted the offer on this property!  It is truly amazing to me that it took so long.  We have been working on this for over a year.  In December we had an accepted offer with the bank and then the Buyer backed out.  Instead of just letting us slip in a new Buyer we had to start the process all over again.  Even so, I really don’t think it should have taken Chase over four months to approve this deal as it was basically very similar to the one they had already accepted.  What a waste of everyone’s time and money.  The poor seller is still having to pay all the utilities,  insurance and taxes and such while they have been waiting for this approval.  Well, hopefully this  will all be done by the end of June.  I will keep you posted.

How to Start 2012 off Right!

Well 2011 wrapped up with a BIG BANG!  I had 5 closings in the month of Dec and one of those was a short sale I have been working on since June!  One of my agents had 4 short sales approved in 2 days starting Dec 19!  Guess the banks finally want to get some of these off of their books.  I still need an offer 210 Lenis before it goes to foreclosure.  We had bank approval and then  the buyer walked.   We could make a great deal!  From the things I have read, the predictions are that 2012 will be a great year for real estate.  I have also read that investors will  be a big part of this year’s market.  I have seen some incredible deals, hope next year one of these can be yours!

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Capitol Trade Group Meeting

I attended the Capitol Trade Group monthly meeting today in Sacramento.  I love these guys.  We are a group of Realty World franchise owners who meet once a month to promote our area in real estate and brainstorm.  Today we discussed the rally we attended in Stockton last month sponsored by Realty World Corporate.  They had 4 wonderful speakers which inspired us all.  We especially liked Shannon King who shared all her ideas on the latest techno things available to make our lives easier without spending much money.  We also discussed short sales and foreclosures.  Looks like I have some home work to do.

30321 Positas Rd closes!

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Positas Road, Winters, closed on Wednesday, April 21, 2010, two days ahead of time!  Positas Road is located West of town, just west of where Pleasants Valley Rd meets Highway 128.  It is a small private road with about 10 parcels and awesome views.  I am sure the new owner will love it up there.  The house was 1304 square feet with 3bedrooms and 2 baths and was built in 2001.  It sold for $392,000. with a $3000. credit to the Buyer in lieu of any repairs.     That is a very nice comparable sale for everyone. 

Hope to see you all tomorrow at Youth Day.

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Progress report in Winters

Well, let’s start with the knee.  We have just completed week one.  John still hurts and can’t understand why he has to do his exercises.  Told him if he  doesn’t, he won’t get his mobility back.  Bitch. 

On the real estate front, Dave and I finally sold 309 Edwards Street!  We put this puppy pending last August.   Think this is my longest career escrow!  Sure hope so.  The property was a 3/2 manufactured home.  The key word here is "manufactured".  That kind of home has its own set of lending rules.  We all learned more that we ever want to know about manufactured home on this one.  I am so happy for both the Buyer and the Sellers to finally get this done.  I want to thank them both for hanging in there on this one!  Did I mention the sales price was $114k?  Simply amazing as Huell Houser would say.

Finally, we have a new listing in the office!  Yeah!  It is a nice 4/2 single story in the new subdivision across from St. Anthony’s center.  I can hardly wait to show it.  I really like this floor plan.  List price is $274+-.  Shouldn’t last long.  

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New SOLD comparables

There were two new SOLD comparables in Winters in January.  The first one is 1030 Kennedy which was a 3/2 around 1250 square feet and it sold for $209,900, cash.  The second house that sold was 114 Riverview Ct.    That house was a large home on a large lot built in the mid 70’s .  It had four bedrooms and a nice loft upstairs.  The master was downstairs, always a plus.   It sold for $303,000.

Two new sales in Winters

Well just in time for Christmas we had two new nice sales in Winters.  The first house is at 313 Village Circle and sold for $300. on Friday, December 18.  The second house was a short sale at 717 Main Street and also sold for $300k.  It was the former model home and had some nice upgrades.  I think both buyers will be very with their new homes in the new year!   Happy New Year everyone.

Cheap, cheap, cheap is gone, gone, gone!

Well the listing on Jefferson sold for cash.    I don’t know the sales price but I do know it is pending.   It really  needed a lot of work and cash was the best bet.   The previous owner had removed a lot of the sheet rock, looked like they might have been thinking of doing some rewiring.  The  kitchen was also a do over as they say.  The nice thing was that the other houses on the street had been updated and really look nice.  I am sure all the neighbors will be thrilled when this house is fixed up.    This should help their value.