So you think only the poor or down trodden get caught with a foreclosure? Think again. Have you seen Whitney Houston lately? She is finally coming out of a hole she has been in for as long as she has been married to Bobby Brown IMHO. Now it seems that she might be facing foreclosure on her New Jersey mansion if she cant catch up on the payments. Of course, her publicist denies the allegations and I hope they are right. Technically, her property is more than likely in pre-foreclosure. This option would make both accounts acceptable.

We have talked about pre-foreclosure before. Whitney Houston has until January 4, 2007 to catch up on her more than $1 million in back mortgage payments in order to keep her New Jersey home, according to Total Bankruptcy. She also has the option of selling it before then as well. If she chooses this option, someone can get a fabulous deal and a celebrity home to boot! This is when most of us come into the picture.

Most pre-foreclosure property owners want to save as much equity as they can and avoid complete foreclosure and a black mark on their credit score. So, if they cant catch up on payments, as I hope Whitney Houston does, then they will try their best to sell the property before they have to turn it over to the bank and loose what equity they might have. As a buyer, you usually hate to offer a lowball number to a seller. But in the case of a pre-foreclosure, you can feel ok about offering a decent amount to get the seller out of their jam and still get yourself a fabulous deal. Be fair and both buyer and seller will come away happy.

So, it will be interesting to see which option Whitney Houston chooses. If she wants a fresh start, then selling the home would be ideal. I cant imagine that it would be difficult to sell. If she wants to keep her home, then she has to come up with quite a bit of money in a short period of time. Thats how to play the foreclosure game.

According to a press release from Realtytrac, Novembers foreclosure rates have increased 4% from October and 68% from November of 2005. The report shows that in the US, 1 out of every 961 household is filing for foreclosure. Although that seems high, keep in mind that the rate of real estate purchases over the last few years has sky rocketed. More people are in a home for the first time than have been in decades due to low interest rates and home prices.

But what does the report say specifically about California? Some stats of interest to us here in sunny Sacramento are:

• Year-to-date foreclosures up 43% from the same 11-month period of 2005 to almost 1.2 million
• More than 19,000 California properties entered some stage of foreclosure during November, the highest number of foreclosures for 3 straight months
• California is the 7^th highest foreclosure state in the nation with 1 new foreclosure filing for every 589 households
• Our neighbors in Riverside/San Bernadino, increased their foreclosures to 4,747 properties entering some form of foreclosure, an increase of more than 57% from October

People are finding that the house they bought last year or the year before is a little more than they can handle. Most people thought the combination of real estate pricing and low interest rates would allow them to get a bigger house than they thought they could afford. Now they are finding out that they cant handle the mortgages for whatever reason and need to get out from underneath. With little to no equity, short sales and pre-foreclosures are becoming more and more available.

So just what does this mean to you as a buyer? It means ��call me quickly!�� The market for pre-foreclosures is hotter than ever and properties entering full foreclosure are increasing daily. Let me get you into a house that fits you and your needs while giving you and the seller a great deal. My goal is to help you in whatever way I can.

Merry Christmas! I hope you are having a glorious holiday. Christmas time should be a time where you sit back, enjoy family and friends, and eat way too much.

Dont be in a hurry to take down the decorations too soon. Enjoy them and relax. You can take them down after New Years. So kick back, relax, and enjoy the holiday season.

We can talk on Tuesday.

Its Christmas time. The holiday season is a great time to house hunt because people are in the mood to sell. One of your best chances to come across a pre-foreclosure would be now. Most people want to enjoy the holidays and knowing that they can get out from under debt can be the best gift you can give them. Pre-Foreclosures are a gem of a find. They are the perfect real estate property to buy for multiple reasons. Lets look at a few of them and see what we can uncover.

Home owners want to get out from under debt and save what little equity they have. Even if they only have a few thousand dollars of equity in their home, they would rather sell and get what they can than to go into foreclosure. So making a deal with the home owner is the best scenario for both of you.

Act quickly. Pre-Foreclosures dont stay on the market long and for good reason. The home owner wants to sell quickly so that they can avoid foreclosure. No one, especially around Christmas time, wants to loose any money. So why not help them out while finding a jewel for yourself at the same time.

If you can, take a close look at the property so that you can determine if you want to go after this particular property. Usually, it is easy to take a look at a pre-foreclosure before it ever reaches full foreclosure standing. There is no sense in trying for a property that you arent going to want in the end.

Pre-foreclosures are a great find for many reasons. The main one is that the owner doesnt want to loose what little equity they do have in their home. If the owner knows that foreclosure is inevitable, avoiding foreclosure the main goal. So let me help you help them. During the holidays, there are plenty of reasons why a pre-foreclosure is a great Christmas gift for both you and the home owner. If you are interested in looking at or learning more about pre-foreclosures, give me a call. I would love to talk to you about the advantages for both you and the seller of a pre-foreclosure.

The two most common questions that seem to be asked in regards to auctions are

Do I need a realtor to bid on an auction, and

How do I go about auctioning my home?

Let’s deal with the first one. No, you do not need a realtor to bid at an auction. However, it is wise to ask a realtor who specializes in real estate auctions what the best deal is on a particular listing. There is nothing worse than to get carried away in the moment of an auction only to find out that the property is not worth what you have paid for it. Be careful with your bidding. Make sure what you are bidding on is what you want. And remember, an auction is “as is”. So take a good look around.

If you are interested in putting your home up for auction, for whatever reason, feel free to contact me. I would love to show you the advantages of an auction. They are quick and painless. And you don’t have to worry about keeping your house in tip top shape for someone to come see it at any time. The best part is that you can watch people bid on your home. This will allow you to see that the one that gets your home really does love it.

An auction should be fun for you no matter which side of the auctioneer you are sitting. If you are interested in either side, I suggest that you go and watch a couple of auctions, both at an auction house and an onsite auction. This will give you a feel for how things work. Hope you enjoy the experience. Feel free to contact me at (916) 729-1333. I am more than willing to talk to you regarding any questions you have.

It is all over the news. The Federal Reserve did not raise interest rates again. How nice of them during the holiday season to not ask for ore of your money. So lets talk about what the Federal Reserves decision to leave interest rates alone means to you.The nitty gritty of it all means that the federal funds rate will stay at 5.25% and the prime lending rate will stay at 8.25%. This means several things for you as a buyer and seller.

For the buyer, you have another few months to get a loan at the current rate before the Federal Reserve has an opportunity to raise your rates. The chances of them lowering the rate any time soon is not a gamble you should take if you are looking at fixing an ARM loan. Go ahead and change for a fixed rate loan if you can.

For the seller, this means that interest rates will allow a buyer to spend just a little more on a home than if the rates went up. Consumers have a small window of opportunity to buy with this rate before the rates could possibly go up again as they have steadily over the last 2 years.

So call me and lets get your house on the market and sold before the Federal Reserve has a chance to raise interest rates again.

Still on the fence about whether you should auction your home or not? Well here are the top 10 reasons why an auction might be the route for you to go with your home.

1. You only have to show your house twice. Think of the time it would save you in cleaning and there will be no unexpected showings.
2. You dont have to worry about going back and forth with the buyer on price. That is what the auctioneer is for.
3. You will have your home sold that day. No more wondering how long it will stay on the market.
4. There will actually be a bidding war. Imagine that in the market of today?
5. The buyer pays all the closing costs. This saves you commissions.
6. A large cash down payment increases your ability to get to closing.
7. There are no contingencies. The house is bought as is.
8. You can set a minimum bid to ensure you get what you want for your investment.
9. You dont have to worry with people coming in and breaking or taking anything as you can pick and choose what is left in the house as opposed to living there and not wanting to put away your favorite decorations.
10. And the best reason to auction your home is knowing that you will be out from under the mortgage sooner than later!

So call me and lets talk about the advantages of auctioning your home and letting the buyer pay for my services. Cant get a better deal than that!

Have you ever been to an auction? If you havent, you are missing out. They are a blast and you can find some really unique pieces. From a buyers prospective, you can get some really good deals if you are lucky and the timing is just right. But from a sellers prospective it can just make life easier. Lets look at an example of a recent situation that could have benefited from an onsite auction format. (more…)

Can I really sell my house if I owe close to or what it is actually worth? I thought I had to have some sort of equity to be able to do something. The answer is a quick YES! You can browse around Realty Doctor to find out lots of ins and outs dealing with short sales. But keep this in mind when you are looking to sell your house, you must be able to justify not being able to keep it.

As previously mentioned, the bank wants to know that you have done everything you can to save your home. But the reality of the situation might dictate having to sell. More times than not, the common sentiment is that this means you have failed at your finances. Let me tell you loud and clear, YOU HAVE NOT! You have simply come to realize that there is more to life than stress and debt.

A short sale means that you done all you can and you are ready to move forward with dignity. Think about a short sale this way. You have gotten in a situation, whether by your own doing or not, which will not allow you to make ends meet, no matter how hard you try. So decide today that you arent going to stress yourself over whether to eat today or make only part of your mortgage.

Call me and lets talk. This could be the fresh start you have been needing. It’s easier than you think to get out from under the huge mound of debt and stress you have found yourself looking out from under when you are dealing with someone who knows how to help.

This home is ready for you. The bank has said get rid of it. At $345,000.00 this home is a steal. Brand new carpet, tile kitchen floors, Bosch dish washer, 5 burner gas stove, new cabinets in both bathrooms, and the ceiling fans are upgraded. 3 bedroom, 2 bath in Roseville, 3 car garage on a culdesac, corner lot. What more could you ask for? Bank says lets go to escrow.