Stunning Designer San Diego Townhome in Perfect Condition

With all the foreclosures and short sales on the market, it is wonderful to find a home that is in perfect move-in condition. This is the ideal home a young couple, first-time home buyer or local artists.

Located in Tecolote Canyon surrounded by trees and wildlife. This site is actually an environmentally protected area, it’s very peaceful, quiet and it truly feels like you are out of town, but in reality you are only a few minutes drive from downtown, the beach and all major shopping areas.

The unit itself has been professionally designed, and completely renovated with an open floor living concept. The Kitchen is equipped with only high-end stainless steel appliances, granite counters, glass tile backsplash, and a rock feature wall that is lit from above. All the floors are re-enforced below a natural travertine and exotic hardwood finish. The main floor also includes a two piece bath with a one piece toilet, stainless steel vessel sink and glass tile feature wall behind the framed mirror. The large balcony is off the Dining Room serves as additional outdoor living area.

The second floor Master bedroom has new carpeting, a walk in closet and an Ensuite bath. The spa like Ensuite features natural light via a french door leading to a small balcony over looking the natural hillside of the canyon. The all new fixtures include a floating vanity with frosted glass vessel sink and a one piece toilet. The shower is custom built featuring travertine and pebble finishes, a rain shower head, and a frameless glass door.

The second bedroom also has new carpeting, a large closet with modern sliding glass doors and a custom built desk/shelving unit. Enjoy the southern exposure from the third balcony that opens from this bedroom.

The main bath on the second floor is a zen-like retreat with travertine floors, a one piece toilet and a custom open vanity with a frosted glass vessel sink. The tub is surrounded by travertine and pebble accents and a rain shower head, with a bent hotel style shower rod. All faucets in the house feature an elegant, modern single handle design.

The full size double garage is below the main floor. Click here for a VIRTUAL TOUR.

For more information or to schedule  a showing,
call our 24-Hour Home Hotline at 877-610-1717
…or

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The Do’s and Don’ts of Foreclosure

Facing a foreclosure is a scary thing, but there are things you should do – and shouldn’t do – to avoid making the situation worse. As more and more homeowners face the possibility of foreclosure, so much information is available.  But, not all of it is good…or correct.  If a foreclosure is about to happen to you, be smart by following these tips.

  • DO answer the phone and read your mail. Avoiding your lender won’t make the problem go away. In fact, it will only make the problem worse. Your lender may be able to help you, so be sure to answer the phone and read any mail they may have sent you.
  • DO realistically assess your situation. Are your financial problems temporary? If you are temporarily out of work and will be fine once you find a new job, call your lender. Lenders may be able to offer a forbearance or repayment plan.
  • DO consider your options. If you are not in a position to keep your home, consider selling it before you face a foreclosure. If you have already missed a mortgage payment, call your lender. There may be purchase options, like a short payoff or assumption (see sidebar) that help avoid foreclosure.
  • DO be aware of certain financial responsibilities. Even if your lender sells your property, you may still be responsible for the difference in the sale price and what you owe. It is also important to realize that you may be responsible for certain taxes when a lender forecloses on your property. However, the IRS does provide tax relief in certain situations .
  • DO protect your wealth. Recognize that you may have significant equity in your property that must be preserved.
  • DON’T move out of your home. In order to qualify for assistance, homeowners are often required to be living in their home. Be sure to talk to your lender before you think about moving.
  • DON’T ignore the problem. It may be possible to keep your home, but if you wait to take action, fewer options will be available. You have certain rights and can take certain actions to help you keep your home; however, you only have a limited amount of time to assert those rights or take those actions. Talk to a lawyer or legal aid organization, since your rights vary from state to state. Most states and large cities have legal aid organizations; to find one near you, go to the Legal Services Corporation , a government-sponsored organization that provides high-quality civil legal assistance to low-income Americans.
  • DON’T convince yourself you can afford a home if you can’t. Most lenders will only lend what a borrower can afford, but some less scrupulous lenders will allow borrowers to get in over their heads. In some cases, a home that was affordable becomes unaffordable due to changes in your life circumstances. If your mortgage is truly beyond your means, consider selling your home and purchasing a less expensive home or renting for a period of time before the only option left is foreclosure. Call your mortgage company; they may be able to help you avoid foreclosure by agreeing to an assumption or a short payoff.
  • DON’T fall victim to a scheme. Some people want to profit by your misfortune by offering to contact and conduct all work-outs and negotiations with your lender on your behalf – for a fee. View a helpful video Freddie Mac posted YouTube titled “Foreclosure Scams 101.”

If you need help to save your home from foreclosure, click here to GET HELP NOW!

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Save Your Home When You Understand Your Foreclosure Alternatives

If you are one of the many homeowners facing tough choices in today’s economy, we understand. We know that looking for assistance with your mortgage and deciding where to go for help can be confusing and frustrating. And we’re here to help.

Whether your financial hardship or current situation is temporary or more permanent, options are available. Even if you have decided you want relief from the responsibility and the burden of your mortgage payments, now’s the time to take action before it’s too late. The last thing you want is to have a foreclosure on your credit report.

To help, Fannie Mae has created KnowYourOptions.com — so homeowners can understand their options. That website will also help you learn more about how you can avoid foreclosure and so you can have a more informed discussion with your mortgage company or housing counselor about your options.

Know Your Options To Avoid Foreclosure.

There are many options for homeowners who are struggling with their mortgage payments. Below is just an overview of some options that may be available to you:

Refinance
A new loan — with new terms, interest rates and monthly payments — that completely replaces your current mortgage. Even if your home value has decreased, you may be able to refinance your loan as part of the government’s Home Affordable Refinance Program (HARP). Refinance benefits:

* Make your payment more affordable by lowering your interest rate or adjusting the terms of your loan
* No negative impact to credit score
* Stay in your home and avoid foreclosure

Repayment Plan
An agreement between you and your mortgage company that lets you pay the past due amount on your mortgage payments over a specified time period in order to bring your mortgage up to date. Repayment plan benefits:

* Catch up on your past due payments over an extended period of time
* Less damaging to your credit score than a foreclosure
* Stay in your home and avoid foreclosure

Forbearance
An offer by your mortgage company to temporarily suspend or reduce your monthly mortgage payments for a specified period of time. Forbearance benefits:

* Have time to improve your financial situation and get back on your feet
* Less damaging to your credit score than a foreclosure
* Stay in your home and avoid foreclosure

Modification
An agreement between you and your mortgage company to change the original terms of your mortgage — such as payment amount, length of loan, etc. You may be eligible for the government’s Home Affordable Modification Program (HAMP) created to help struggling homeowners. Modification benefits:

* May reduce your monthly mortgage payments to a more affordable amount
* Less damaging to your credit score than a foreclosure
* Stay in your home and avoid foreclosure

Short Sale
A short sale is the sale of a home for less than the balance remaining on your mortgage. If your mortgage company agrees to a short sale, you can sell your home and pay off your mortgage balance with the proceeds. Short sale benefits:

* Eliminate or reduce your mortgage debt
* Assistance for relocation may be available
* May be able to recover your credit score — and get another mortgage — faster than if you went through foreclosure

Deed-for-Lease™
A new program that allows you to temporarily lease your home. You first transfer the ownership of your home to the mortgage company (called a Deed-in-Lieu of Foreclosure, see below) in exchange for release from your mortgage loan and payments. You can then rent the property back — at an affordable rate — and remain in the home as a tenant. Deed-for-Lease benefits:

* Stay in your home and neighborhood — no need to move or relocate
* May be able to recover your credit score faster than if you went through foreclosure
* Assistance for relocation may be available at the end of your lease
* Avoid foreclosure

Deed-in-Lieu of Foreclosure
With a Deed-in-Lieu of Foreclosure (DIL), transfer the ownership of your property to your mortgage company in exchange for a release from your mortgage loan and payments. DIL benefits:

* Eliminate or reduce your mortgage debt
* May be eligible for relocation assistance
* May be able to recover your credit score — and get another mortgage — faster than if you went through foreclosure

To discuss your options with the Certified Professionals at The HomeFetchers Team, click here: Get Help Now

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24-Hour Recorded Home Helpline: 877-610-1717
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Fannie Mae Pays You To Buy A Foreclosure

Fannie Mae is working hard to entice you to buy a foreclosure…and it’s a nice enticement for everyone.

The government-sponsored enterprise will also give qualified home buyers 3.5% of the final sales price that can be used toward the closing cost, including home warranty. Eligible offers must be submitted on or after Sept. 23 and they must close by Dec. 31, 2010. Fannie said the sale must close within 60 days of the accepted offer.

Terry Edwards, executive vice president of credit portfolio management at Fannie, said more than 87,000 families have purchased a HomePath property in the first half of 2010. HomePath is the in-house manager of the Fannie Mae foreclosures. It hires vendors and agents to rehabilitate the home and ready it for the market again.

“We continue to look for ways to stabilize neighborhoods and offer incentives to qualified buyers who will occupy these properties over the long-term and help support their communities,” Edwards said.

Fannie Mae, Freddie Mac and many lenders have instituted a First Look program to give owner-occupants a head start ahead of investors to buy these previously foreclosed homes. In California, home buyers have a 14-day jump over investors. It is 30 days in Nevada. In one year of the First Look program, Fannie has sold more than 29,000 REOs to owner-occupants.

Real estate agents and brokers will also receive a $1,500 closing bonus for selling one the these foreclosed homes to an owner occupant.

To find a foreclosure home that qualifies for the Fannie Mae incentive,

contact a HomeFetchers agent today at http://HomeFetchers.com

…or call the 24-Hour Home Hotline: 877-610-1717

source: housingwire.com

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What Is Your Home Worth?

Today is the day to discover what your home is really worth …in this market …in your neighborhood. To get this valuable information customized for your home, you can request this comprehensive CMA…just for the asking!

What Is A ‘Competitive Market Analysis’?

A comparison of sales prices of similar properties in a given area for the purpose of determining the fair market value of a property. It is the method real estate professionals use to determine the value of a home for both sellers and buyers. The report will include the following information.

1. What buyers have recently paid for homes similar to yours in your local area

2. What sellers are currently asking for homes similar to yours in your local area

When you get  this information you’ll know what you can expect to receive when selling your home in today’s market.

To receive your free CMA report simply complete the form below. We will then prepare the report and get it back to you within 24 hours.

(*Be sure to complete all the fields for the most accurate analysis.)

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Click here to search for new homes: HOME SEARCH
……………………………………………………………………………….

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Carmel Valley, San Diego Weekly Housing Report

As school is back in session this week, it is natural that we found a bit less activity in home sales.  This week’s focus on Carmel Valley is due to the popularity of this neighborhood, as well as it’s desirability in terms of community, location, schools, and safety. With Labor Day behind us, we home to see a slight uptick in sales again as we approach October.

Be sure to check current MLS homes for sale in Carmel Valley…or anywhere in San Diego on our HOME SEARCH page.

Below is a listing of the 7 homes that went into escrow this week and the 4 homes that sold in Carmel Valley this week.  There were also 11 homes that went off the market, 3 of them being bank owned REO properties. Some of the more active neighborhoods for sales currently are Torrey Del Mar, Rancho Pacifica, Lexington, Pacific Highlands Ranch and Palacio Del Mar.

  • Carmel Valley Homes That Went into Escrow This Week in San Diego:
Address Community MLS Number Bed Bath Sq Ft List Price
3835 Elijah Ct # 538 Carmel Valley 100048359 2 2 1193 $350,000
11370 W. San Raphael Drw San Raphael 100047296 3 3 2372 $689,000
5436 Caminito Exquisito Palacio Del Mar 100042643 4 3 1941 $709,900
7656 Mona Ln Torrey Del Mar 100051420 6 5 3845 $829,000
5311 Harvest Run Dr Lexington 100041906 6 6 4670 $1,198,000
7487 Collins Ranch Ter Collins Ranch 100019453 6 8 6280 $1,879,000
5095 Rancho Quinta Bend Rancho Pacifica 100037833 5 7 7378 $3,895,000
  • Carmel Valley Homes That Sold This Week in San Diego:
Address Community MLS Number Bed Bath Sq Ft Sold Price
12618 Portada Pl Bayshore 100041929 3 3 1568 $665,000
5209 Ruette De Mer Palacio Del Mar 100040815 4 3 2604 $860,000
5449 Sonoma Pl Pacific Highlands Ranch 100045115 5 3 2759 $895,988
4958 Hidden Dune Ct Sonoma 100047518 5 5 4130 $1,170,000

If you are looking to sell your home, click here to see the VALUE OF YOUR HOME in today’s market.


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Come And Get It…Government Awards $1 Billion In New Housing Aid

U.S. Housing and Urban Development Secretary Shaun Donovan awarded an additional $1 billion in funding to all states along with a number of counties and local communities struggling to reverse the effects of the foreclosure crisis. The grants announced today represent a third round of funding through HUD’s Neighborhood Stabilization Program (NSP) and will provide targeted emergency assistance to state and local governments to acquire, redevelop or demolish foreclosed properties.

“These grants will support local efforts to reverse the effects these foreclosed properties have on their surrounding neighborhoods,” said Donovan. “We want to make certain that we target these funds to those places with especially high foreclosure activity so we can help turn the tide in our battle against abandonment and blight. As a direct result of the leadership provided by Senator Chris Dodd and Congressman Barney Frank, who played key roles in winning approval for these funds, we will be able to make investments that will reduce blight, bolster neighboring home values, create jobs and produce affordable housing.”

The funding announced today is provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act. To date, there have been two other rounds of NSP funding: the Housing and Economic Recovery Act of 2008 (HERA) provided $3.92 billion and the American Recovery and Reinvestment Act of 2009 (Recovery Act) appropriated an additional $2 billion. Like those earlier rounds of NSP grants, these targeted funds will be used to purchase foreclosed homes at a discount and to rehabilitate or redevelop them in order to respond to rising foreclosures and falling home values. Today, 95 cents of every dollar from the first round of NSP funding is obligated—and is in use by communities, buying up and renovating homes, and creating jobs.

State and local governments can use their neighborhood stabilization grants to acquire land and property; to demolish or rehabilitate abandoned properties; and/or to offer downpayment and closing cost assistance to low- to moderate-income home buyers (household incomes do not exceed 120% of area median income). In addition, these grantees can create “land banks” to assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing neighborhoods and encouraging re-use or redevelopment of urban property. HUD will issue an NSP3 guidance notice in the next few weeks to assist grantees in designing their programs and applying for funds.

NSP 3 will take full advantage of the historic First Look partnership Secretary Donovan announced with the National Community Stabilization Trust last week. First Look gives NSP grantees an exclusive 12-14 day window to evaluate and bid on properties before others can do so. By giving every NSP grantee the first crack at buying foreclosed and abandoned properties in these targeted neighborhoods, First Look will maximize the impact of NSP dollars in the hardest-hit neighborhoods—making it more likely the properties that communities want to buy are strategically chosen and cutting in half the traditional 75-to-85 day process it takes to re-sell foreclosed properties .

NSP also seeks to prevent future foreclosures by requiring housing counseling for families receiving home buyer assistance. HUD seeks to protect future home buyers by requiring states and local grantees to ensure that new home buyers under NSP receive homeownership counseling and obtain a mortgage loan from a lender who agrees to comply with sound lending practices.

In determining the allocations announced today, HUD, as it did with NSP1, followed key indicators for the distribution formula outlined by Congress. HUD is using the latest data to implement the Congressional formula. The formula weighs several factors to match funding to need in the 20% most distressed neighborhoods as determined based on the number and percentage of home foreclosures, the number and percentage of homes financed by a subprime mortgage related loan, and the number and percentage of homes in delinquency. To estimate the level of need down to the neighborhood level, HUD uses a model that takes into account causes of foreclosures and delinquencies, which include housing price declines from peak levels, and increases in unemployment, and rate of high cost and highly leveraged loans. HUD also considers vacancy problems in neighborhoods with severe foreclosure related problems.

In addition to a third round of NSP funding, the Dodd-Frank Wall Street Reform and Consumer Protection Act creates a $1 billion Emergency Homeowners Loan Program to be administered by HUD. This loan program will provide up to 24 months in mortgage assistance to homeowners who are at risk of foreclosure and have experienced a substantial reduction in income due to involuntary unemployment, underemployment, or a medical condition. HUD will announce additional details, including the targeted areas and other program specifics when the program is officially launched in the coming weeks.

[Source: hud.gov]

Stay tuned to http://HomeFetchers.com for more housing updates…

or call the 24-Hr Home Hotline at: 877-610-1717

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CalHFA Offers New Program To Keep Your Home in California

The U.S. Treasury Department has approved CalHFA’s plan to use nearly $700 million in federal funding to help  California families struggling to pay their mortgages. The “Keep Your Home” programs are focused on assisting low and moderate income families stay in their homes, when possible, and leveraging additional contributions from lenders and mortgage servicers.

Primary objectives for the Keep Your Home Program include:

* Preserving homeownership for low and moderate income homeowners in California by reducing the number of delinquencies and preventing avoidable foreclosures

* Assisting in the stabilization of California communities. Each of the Keep Your Home programs is designed to address one or more aspects of the current housing crisis by doing the following:

* Helping low and moderate income homeowners retain their homes if they either have suffered a financial hardship such as unemployment, have experienced a change in household circumstance such as death, illness or disability, or are subject to a recent or upcoming increase in their monthly mortgage payment and are at risk of default because of this economic hardship when coupled with a severe decline in their home’s value.

* Creating a simple, effective way to get federal funds to assist low and moderate income homeowners who meet one or all of the objective criteria described above. Speed of delivery will be balanced with fulfillment of the specific program’s mission and purpose.

* Creating programs that have an immediate, direct economic and social impact on low and moderate income homeowners and their neighborhoods.

CalHFA is not taking applications or maintaining waiting lists for the Keep Your Home Programs at this time.  The Keep Your Home programs are under development and will not be available until November 1, 2010. If you are currently struggling to make your mortgage payment, are in any stage of mortgage delinquency or are already facing foreclosure, it is important for you to contact your loan servicer or a HUD-certified housing counselor immediately. When the program does roll out, here are some important facts:

*Anyone who did a cash-out refinance is ineligible

*Homeowners who have lost their job and are in imminent danger of foreclosure due to a short term financial problem can obtain a payment subsidy of up to $1,500 or 50% of their monthly mortgage payment, whichever is less–for up to six months.

*Homeowners who have missed one or more payments can receive up to $15,000 or 50% of the past due amount, whichever is less, to reinstate the mortgage and prevent a foreclosure.  The lender, loan servicer, mortgage insurer, and or borrower must match the catch-up money on a dollar-for-dollar basis.

*Homeowners who have severe negative equity can receive up to $50,000 to reduce the principal balance on their mortgage to a market level to prevent an avoidable foreclosure and promote sustainable homeownership.

*Homeowners who can’t afford to keep their home and are willing to participate in the lender’s short sale or deed-in-lieu of foreclosure program can receive a one-time grant of up to $5,000 to transition to a more affordable residence.

To qualify, the home must be occupied as the primary residence, income restrictions must be met, a hardship must be evident, and there must be the ability to make the modified payment arrangement. Expect modifications to the program prior to rollout. A chart of the  income limits with this program is available. Please call the 24-Hour Home Hotline at 877-610-1717 ext 111 to request the chart of income limitations and other restrictions. If you would like to be notified when the program is activated in California, please send an email request to: CALHFA@homefetchers.com or call the 24-Hour Home Hotline with your contact information.

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Monday Market Report: Sept. 6th, 2010

Monday Market Summary: The San Diego Real Estate market is our specialty. So each week we will review the activity of the prior week, and post the results on our HomeFetchers.com website. This report will outline weekly sales, foreclosures, new listings, and home pricing.

The median sales price for a home in San Diego was $328,000, based on 3993 home sales. Compared to the same period a year ago, home sales increased 10%, however the number of home sales decrease 22.6%. The most popular neighborhoods in San Diego are Ranch Bernardo, Pacific Beach and Carmel Valley.

  • Average listing price in San Diego, CA went down 0.04% to $592,854 from prior week
  • Median sales price in San Diego, CA went up 2.50% to $328,000 from prior quarter
  • 5,465 foreclosures in San Diego, CA this week
  • 1,235 new listings in San Diego, CA in the past 7 days
  • 1,561 price reductions in San Diego, CA this week
  • 1,851 sold properties in San Diego, CA in the past 60 days

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Click Here if you are ready to buy or sell a home in San Diego: Get Help Now …or call us at 877-610-1717
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Start Home Shopping: New Home Buyer Tax Credit On The Way

It was bound to happen. A bit more help for the real estate market…before it falls totally on its face. You can expect another home buyers tax credit to come out in another 30-60 days, according to a Wall Street Journal Article discussing the Administrations new plans – including a new Home Buyers Tax Credit version 3.0, if you will.

“The Obama administration plans to set up an emergency loan program for the unemployed and a government mortgage refinancing effort in the next few weeks to help homeowners after home sales dropped in July, Housing and Urban Development Secretary Shaun Donovan said. [Call us if you have questions about the HAUP program for the unemployed homeowners in San Diego: 877-610-1717]

“The July numbers were worse than we expected, worse than the general market expected, and we are concerned,” Donovan said on CNN’s “State of the Union” program yesterday. “That’s why we are taking additional steps to move forward.”

The administration will begin a Federal Housing Authority refinancing effort to help borrowers who are struggling to pay their mortgages, and will start an emergency homeowners’ loan program for unemployed borrowers so they can stay in their homes, Donovan said.

“We’re going to continue to make sure folks have access to home ownership,” he said.

Sales of U.S. new homes unexpectedly dropped in July to the lowest level on record, signaling that even with cheaper prices and reduced borrowing costs the housing market is retreating. Purchases fell 12 percent from June to an annual pace of 276,000, the weakest since the data began in 1963.

Sales of existing houses plunged by a record 27 percent in July as the effects of a government tax credit waned, showing a lack of jobs threatens to undermine the U.S. economic recovery.”

Yes, this news does spark the debate again…should we continue to prop up the housing market or let it finally settle in to its natural bottom. Both sides of the argument have merit. The real question is: would you take advantage of the tax credit this time?

Details of this third version of the home buyer tax credit are yet to be announced.  Some other developments which Obama mentioned in a recent conference, and echoed by Real Estate Insider News include:

1) Radical re-fi. Expect there to be some sort of radical refinance program for upside down borrowers. These will not be a loan mod.

2) More programs like the Bank of America Cooperative Short Sale Program- HPO (also called the High Performance Out Reach Short Sale). Goal: reduce foreclosures..for real.

3) More ‘flexible’ loan standards. (I wonder if we didn’t learn our lesson last time on these flexible loan standards and the mess it created.)

It’s all about to get very interesting in the housing market.

Check back on our VestorLink blog for all the latest updates as they happen
Or…
Call our 24-hour Recorded Home Hotline for the latest news: 877-610-1717.

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Short Sales | HAFA | HAUP | Loan Modifications | Stop Foreclosure | Bank Owned | FSBO | Expired Listings

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