Foreclosures & Bank Owned

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... Read more

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Oct 4th	The Consumer Bailout For Home Owners That Nobody Seems to Know About
2008	Categories: Foreclosures & Bank Owned, Short Sales

Here is a great article I just came across that I wanted to pass on to potentially help some home owners that are struggling right now here locally in Santa Barbara as well as nationally. I have copied and pasted below the first section of the article exacty as it appears on the RISMEDIA website. "RISMEDIA, Oct. 1, 2008-As congress considers various bailout proposals for the financial system, there is a little known ‘bailout’ for home owners that has already been enacted into law, according to Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. Section 1403... Read more

Tags: bailout for home owners, consumer bailout

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Aug 21st	Strategies to Buying a Home in Foreclosure Here in Santa Barbara CA.
2008	Categories: Buyer's Resources & Advice, Foreclosures & Bank Owned, Santa Barbara

If you are hoping to purchase a house on the cheap by buying a foreclosed property here in the Santa Barbara area, you are not alone?  It is a natural instinct to want to look into this as an option as the market has slowed and the constant bombardment of negative media news regarding real estate continues. There are some good deals out there here locally, but the process can be complicated and risky and you need to be educated on what you are getting into. Here are a 2 Quick Points you need to know firsthand with regards to foreclosures here in the... Read more

Tags: bank owned goleta, bank owned santa barbara, carpinteria foreclosure, foreclosed property santa barbara, foreclosure in santa barbara ca, foreclosure stages, goleta foreclosure, goleta reo, santa barbara reo, stages of foreclosure

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Feb 13th	Potential Negatives to Buying Santa Barbara Homes in Foreclosure
2008	Categories: Buyer's Resources & Advice, Foreclosures & Bank Owned

Most buyers that get lured to looking only at Santa Barbara homes in foreclosure are often thinking about a cute cottage with a white picket fence, priced well below market price, located in a good neighborhood, needing simply a little work because the unfortunate owner has fallen on hard times.  Although this is a rosy picture for the investor or first-time buyer (not for the owner), the reality is often very different. Condition of Foreclosed Homes I have read article upon article about foreclosures the last several months as well as spent several days looking at homes in foreclosure that are on the market... Read more

Tags: buyers santa barbara, buying santa barbara homes, realtor, santa barbara homes, santa barbara homes in foreclosure

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Feb 5th	Any Great Deals on Homes in Foreclosure in Santa Barbara?
2008	Categories: Buyer's Resources & Advice, Foreclosures & Bank Owned, Santa Barbara

This seems to be a common question I get here lately in Santa Barbara and Montecito, mainly from first-time home buyers and investors.  Like many things in life though, it simply depends. The common myth out there seems to universally be that homes in foreclosure must be the best opportunities to buy a cheaper home or get a "great deal".  Here is the big problem with this line of thought, at least in a town such as Santa Barbara or Montecito. First, when you see statistics in the newspapers or online about foreclosures in the Santa Barbara area, it almost always refers to... Read more

Tags: Carpinteria, experienced full-time realtor, First-time Home Buyers, foreclosure in santa barbara, Goleta, homes in foreclosure in santa barbara, Montecito, realtor, Santa Barbara, santa barbara proper

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