Monique Carrabba's (moniquecarrabba) Blog

My notes:Wells Fargo short sale meeting 9/23/10Wells Fargo services 9 million loan customers (2nd to BofA)22% are portfolio assets including Wachovia loans (or owned by Wells Fargo)Therefore, 78% are serviced for loan investors (where Wells is the servicer)Wachovia assets have already been writte...

In Los Angeles, I have had many people ask me: "So I would like to buy a foreclosure." No one really wants to buy a short sale but usually when someone says they want to buy a foreclosure that's what they mean. Here is a quick cheat sheet for all of you foreclosure buyers. The first thing that us...

So you think the market is down in Los Angeles' Miracle Mile? The stats are in and things are looking up.  In July 2009, the volume (total amount of sales) was $14,836,240 per the CLAWMLS.  For the same period in July 2010 the volume was $15,339,000. Up, not by much but still up. People continue ...

Many times I show homes and I have to laugh. If there is a desk in a bedroom the buyer will assume it's an office. You put a bed in the bedroom and people will assume it's a bedroom. I had the same problem when I sold my own home back in 2006. I tried for months to sell my 2nd bedroom as a bedroo...

Many homes on the market right now are short sales. What that means is the seller is likely in default (they are behind on their mortgage payment) and are asking the bank(s) that hold the loans on the property to take less than what the loan balance is. The listing agent typically prices the home...

  I thought this article was very interesting for all you FHA buyers in Los Angeles. According to a recent article in the LA Times, the credit that a seller can credit to a buyer will be changed from 6% to 3%. http://www.latimes.com/business/la-fi-harney-20100530,0,463085.story  

Many people that have had a foreclosure, face the issue of how long must they wait before purchasing another home. This article from CNN money provides some useful information for all of you that face this dilemma. According to the CNN article, it suggests that under most scenarios where there is...

Many of you working with an agent may be led to believe that you can write an offer on a property and always back out. Be careful. When you write an offer to purchase a property, your cancellation of the contract needs to be in “good faith”. When you purchase a property, the reason for backing ou...

One of Los Angeles’ top employers is the University of California at Los Angeles (UCLA) and University of Southern California (USC). Many people who come to Los Angeles that are relocating are either students or employees of USC or UCLA, and they want to live close to avoid the nightmare commutes...

After a trip to Paris last year, I marveled at how the City has embraced its Velib bike system. Introduced in July 2007, it is a short-term bike rental program. Designed and created by outdoor advertising giant JCDecaux, the program includes 20,600 rental bikes at 1,451 stations throughout the ci...