Foreclosures & Bank Owned

Jun 8th	Are you an Ideal Candidate for a Short Sale here in Goleta CA?
2010	Categories: Foreclosures & Bank Owned, Goleta, Short Sales

Tips to Avoiding Foreclosure: Who is the Ideal Candidate for a Short Sale?  The reality for people that are unfortunately facing foreclosure is not something that is taken lightly.  The prospect of not just losing your home, but dealing with all the emotional and financial realities that come with it can be more more than overwhelming. Fortunately, certain people may be in a position to avoid this legal, financial, and emotional turmoil by going the route of a short sale. Do you qualify to obtain relief through a short sale of your home? Here are some of the qualifications a bank is looking... Read more

Tags: avoiding foreclosure, goleta foreclosure, goleta short sale, short sale tips

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May 23rd	Basics of a Short Sale with Regards to Real Estate in Santa Barbara CA.
2010	Categories: Foreclosures & Bank Owned, Short Sales

If you are in a financial position that you are behind on your mortgage payments or are simply considering not making these payments because the value of your home has dropped below the open market value, then you are most likely considering the potential option of a short sale of your home.  If so, then most likely you are also wondering how the whole process exactly works and how it will unfold.  There is no need to feel confused as most of the steps are very basic. Deciding that it is best for you to sell your home and get... Read more

Tags: basics of a short sale, santa barbara short sale

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May 5th	Tips to Avoiding Foreclosure Here in The Santa Barbara, Montecito, Goleta and Carpinteria Areas
2010	Categories: Foreclosures & Bank Owned, Seller's Resources & Advice, Short Sales

As a Santa Barbara real estate agent, one of my main focuses is to keep people first.  As I have grown in this business the last 9 years and the community as a whole, I have become more dedicated to my clients than ever before.  A great example of this is my desire to help clients who have found themselves in a financially distressed situation with the possible loss of a home that they have worked so hard to earn. In order to help, I have tried to learn as much as I can about the foreclosure and short sale process... Read more

Tags: avoiding foreclosure, avoiding short sale, tips to avoid foreclosure

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Apr 23rd	Positive Real Estate News – California Home Defaults Going in the Right Direction
2010	Categories: Foreclosures & Bank Owned, Market Statistics / Updates

A 40.2% drop in the first quarter foreclosures A very much hoped for and somewhat surprising large drop in first quarter defaults suggests that the overall foreclosure crisis is easing here in California as a whole.  New data suggests and supports evidence that the federal government and big lenders are doing their part in stepping up efforts to keep troubled borrowers in their homes. "Mortgage default notices -- the first step toward foreclosure -- plunged 40.2% statewide in the first three months of the year compared with the same period in 2009", according to San Diego research firm MDA DataQuick. One of the... Read more

Tags: california foreclosures

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Feb 7th	New Luxury Bank Owned Opportunity – Montecito Foreclosure with Great Views $3.5 Million
2010	Categories: Foreclosures & Bank Owned, Luxury Real Estate, Montecito

One of the few luxury banked owned homes to come onto the market happened this last week.  The bank will be taking a look at offers early this coming week.  Wonderful ocean, harbor and city views on roughly 1.3+/-acres.  Currently under construction although much of the home is complete.  3 bedrooms, 2.5 baths with a guest home, 3 car garage which is still under construction and in the beginning stage of being converted into a 2 bedroom guest home.  Can be converted back to garage or will need to submit permits to continue work.  This is a true opportunity. View Listing Further... Read more

Tags: montecito foreclosure, montecito luxury foreclosures

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Feb 7th	Pros and Cons of Buying Foreclosures in Santa Barbara, Carpinteria and Goleta CA.
2010	Categories: Carpinteria, Foreclosures & Bank Owned, Goleta, Santa Barbara

As a home buyer in today's market here in Santa Barbara, Goleta and Carpinteria, you may be able to get "deals" on foreclosures, but buying foreclosures can be risky as well.  If you are looking at foreclosures as an option for a home purchase, it is crucial to understand the many potential cons associated with the one obvious "pro" of buying a foreclosure. First, there are a few definitions of properties that are generally thrown around and become universally known as "foreclosures." A "pre-foreclosure" for example is a home which is in danger of falling into foreclosure, but is still owned... Read more

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Oct 15th	The Secret of Santa Barbara CA. Foreclosures – Update October 2009
2009	Categories: Foreclosures & Bank Owned, Santa Barbara

Where is the real estate market today with regards to foreclosures here in Santa Barbara CA?  The answer to this really depends on the specific areas of Santa Barbara you are talking about as well as specific price points.  Santa Barbara is simply too unique of a town to pinpoint a "foreclosure label" at any level, on any certain part of our real estate market.  You really have to look at the individual markets and areas within our community. For example, lately in the national news we have been bombarded by information and statistics about how the high end luxury real... Read more

Tags: santa barbara bank owned, santa barbara foreclosures

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Oct 12th	How to Find All the Goleta and Carpinteria CA. Foreclosures and Short Sales Statistics
2009	Categories: Carpinteria, Foreclosures & Bank Owned, Goleta

Just read below... Here are the latest statistics on short sales and foreclosures in both Goleta and Carpinteria CA. Carpinteria Foreclosures - 2009 year to date In Carpinteria CA., year to date there have been 28 bank owned / foreclosures that have come to market. Roughly 10% of all listings in Carpinteria year to date have been foreclosures. The lowest sale was a 2 beds 1 bath mobile home that sold for $60,000. The highest sale was a 5 beds 3 baths home located at 5427 Cameo Road that sold for $700,000. Currently there are 6 Active foreclosures for sale in Carpinteria CA. Carpinteria Short Sales - 2009... Read more

Tags: carpinteria foreclosures 2009, carpinteria short sales 2009, goleta foreclosures 2009, goleta short sales 2009

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Oct 9th	How is the Hope Ranch CA. Real Estate Market Holding Up with Foreclosures and Short Sales?
2009	Categories: Foreclosures & Bank Owned, Hope Ranch

  With the reality of the overall real estate market in the U.S. here in the last 2 years, it is inevitable that I am asked about short sales and foreclosures.  Most of this though is generated from people interested in the entry level price points up to about $2 million.  Here and there though I am asked by someone about the state of foreclosures and short sales in Hope Ranch and our other luxury areas here in Santa Barbara CA. and Montecito CA.  Being that there is so much doom and gloom across the U.S. with the housing market and... Read more

Tags: hope ranch foreclosures, hope ranch short sales

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Oct 6th	Any Luxury Homes in Foreclosure in Montecito CA?
2009	Categories: Foreclosures & Bank Owned, Montecito

  A few times a month for the last year or so I have been asked by someone about the state of foreclosures in Montecito and our other luxury areas here in Santa Barbara CA.  Being that there is so much doom and gloom across the U.S. with the housing market and lately a lot of this effecting the high end neighborhoods, this is a very normal question. So what is the state of foreclosures in Montecito and our luxury areas? Not too dramatic if you ask me.  I have talked with many title reps, lenders and searched myself on several "foreclosure sites"... Read more

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Feb 20th	President Barack Obama’s Plan to Stem Foreclosures
2009	Categories: Foreclosures & Bank Owned

Yesterday, in Phoenix Arizona, President Obama laid out a bold $75 billion, three-part plan that is a major step in trying to halt the huge number of foreclosures occurring nationwide.  A major part of this plan is to encourage homeowners with homes that are now worth less than their current mortgages to refinance to a lower debt load.  This lower debt load is part of the incentive plan thus provided to banks and lenders in hopes of stemming future foreclosures.  The Homeowner Stability Initiative, which this new plan is being called by the Obama administration, seeks to address possibly the... Read more

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Oct 7th	Bank of America Today Annouces an Aggressive Foreclosure Prevention Effort
2008	Categories: Foreclosures & Bank Owned

Here is a very important article that I just read about some of the processes taking place to deal with all the foreclosures going on.  Bank of America just announced this today. Further Reading: Articles on Foreclosures Articles on Short Sales For information on Santa Barbara Real Estate, Montecito Real Estate and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty. Thank you for reading.  I hope you find Santa Barbara Real Estate Voice informative.  Please feel free to contact me or comment below with any thoughts.  Subscribe to... Read more

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