SHORT SALE VS FORECLOSURE? Should You Choose a Short Sale Over a Foreclosure? A reader asks: My husband and I have been making our mortgage payments every month even though our home is underwater. We owe a lot more than our home is worth. Now, my husband has lost his job. We're thinking about walking away from our home and letting it go to foreclosure, but my parents are telling us that we may qualify for a short sale. Which is better for us? A short sale or a foreclosure?" Answer: Whether you should do a short sale or let the home go to foreclosure depends on several factors. While for some homeowners, it is easier to throw up your hands and let the bank take your home, that might not be the wisest thing to do.   Short Sale Benefits Here are a few benefits for doing a short sale that m... 03/25/2011

  If you owe more than your house is worth and can't afford your payments, you might be able to sell it for less than you owe -- without having to pay the lender the difference.   If you can no longer make your mortgage payments and your home is now worth less than you owe on it, foreclosure may not be your only option. A short sale, in real-estate terms, is a sale of a house in which the sale price is less than what the owner still owes on the mortgage. It is a procedure sometimes agreed to by lenders, who often would rather take a small loss than go through the lengthy and costly foreclosure process, in which the lender allows the sale of a home for less than it is worth and forgives the rest of the note. While there are some significant negative consequences to a short sale, an ever-... 03/25/2011

6 Questions Foreclosure Buyers Should Ask There are questions that buyers in any market should be asking before they make an offer on a property in foreclosure. April 2009 Is now a good time to buy a foreclosure?   This is a very common question from both real estate professionals and prospective buyers. Obviously, because local market conditions vary, the answer is different from market to market. But there are questions that buyers in any market should be asking before they make an offer on a property in foreclosure.   What's the first step buyers need to take?   Require buyers you work with to be preapproved for a loan before you help them shop for a foreclosure. If they're thinking of buying a foreclosure as an investment or second home, they need to understand that financing the ho... 03/25/2011

  If you owe more than your house is worth and can't afford your payments, you might be able to sell it for less than you owe -- without having to pay the lender the difference.   If you can no longer make your mortgage payments and your home is now worth less than you owe on it, foreclosure may not be your only option. A short sale, in real-estate terms, is a sale of a house in which the sale price is less than what the owner still owes on the mortgage. It is a procedure sometimes agreed to by lenders, who often would rather take a small loss than go through the lengthy and costly foreclosure process, in which the lender allows the sale of a home for less than it is worth and forgives the rest of the note. While there are some significant negative consequences to a short sale, an ever-... 03/25/2011

Foreclosure is something that many people think can never happen to them.  The reality is it can happen to anyone.  There are many reasons that may leave us facing foreclosure: Rising Interest Rates Unemployment Personal Tragedy Health Problems Death of a Family Member These are just some of those very real reasons.  In desperate times, the last thing you need is to lose your home and potentially break up your family. At The Watson Group, we are committed to assisting you with keeping your home.  We will act on your behalf and negotiate with your lender for Free!  Whether your goal is to stay in your home or simply get out of it without going through foreclosure... We may be able to help make it a reality. For more information click below. STOP FORECLOSURE!  or contact us at (800) 264-3... 03/25/2011

 Interest in buying a foreclosed home is on the rise, but so are concerns about the risk involved in the process. In a December survey, Trulia found that 49 percent of Americans were at least somewhat likely to consider buying a foreclosure, up from 45 percent in May 2010.  But the number of US adults who believed there are disadvantages to buying foreclosures had also increased, from 78 percent to 81 percent over the same time frame.  Among those folks who had qualms about purchasing a foreclosure, the top concerns were: that buying a foreclosure might involve hidden costs, that the buying process itself is risky, and that the home might continue to lose value, after escrow closes. While there certainly are risks that run with buying a foreclosed home, the most risky way to do it is al... 03/25/2011

The Watson Group Realty has 8 key tips for buyers who are in the market for a new home   1. Be conservative about how much you can afford. Having a clear picture of the cost of ownership will go a long way to alleviate your stress after closing and ensure that you don't feel "house poor." 2. Clarify your motivation. Knowing your true motivation can also help you make a decision when you're torn between one or more properties. 3. Determine if an HOA is important. Make an informed buying decision and know how you want to live after closing.  4. Check your credit rating. Would you qualify for a different program or a better interest rate if your credit score was higher? If so, should you wait and work on raising that score before making a purchase decision? A reputable, successful loan off... 03/25/2011

How long will a former homeowner who sold through a short sale or foreclosure have to wait before they can buy another home? Here are the rules.... Waiting Period Requirements to Buy a Home Again. The waiting periods in order to qualify for a home loan after a foreclosure, deed-in-lieu, short sale and bankruptcy varies both by the government agency purchasing or insuring the loan as well as the dollar amount of the loan. Federal Housing Administration (FHA) 1) Foreclosure is 3 years 2) Deed-in Lieu is 3 years 3) Short Sale is 3 years 4) Bankruptcy is 2 years Veterans Administration (VA) 1) Foreclosure is 2 years 2) Deed-in Lieu is 2 years 3) Short Sale is 2 years 4) Bankruptcy is 2 years Conventional Conforming (FNMA/FHLMC) 1) Foreclosure is 7 years 2) Deed-in-Lieu is 4 years < 80% LTV... 03/25/2011

Hello and Welcome to Ocean Beach~ San Diego California Foreclosure Auction, Bank Owned Foreclosure Homes for Sale & Real Estate.   Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding.  Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone?   We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.  Once you understand the processes, you may find that it's right or not right for your current situation. Understanding the process is the key, and here is how the process goes as a brief overview: Pre-Foreclosure (Also known as Notice of Default).  Pre-Foreclosure is usually when the cur... 01/10/2011

Manic Monday I've been very patient today, but ActiveRain has driven me to call this Manic Monday. It shouldn't take almost three hours just to post ten comments, but all the 500 Internal Server Errors are driving me nuts. Since I obligated myself to do the 31 posts in 31 days of December challenge, I'll do this post real quickly (maybe!) and then I'm giving up on ActiveRain for the evening. Over in Ocean Beach, perhaps our most eclectic and unique beach community, a new type of street sign has cropped up: See what it is? Someone started a movement by hanging a tie on the street sign and from there it seems everyone has joined in. Apparently no one saw the person who started it, and no one has seen anyone else put one on, so I guess people are doing it in the darkness of night. Here's ... 01/03/2011

Don't pass up this opportunity! This is a Fannie Mae HomePath property. Gated community. Ground floor unit with patio, fireplace, updated kitchen with tile counters, laminate flooring, new carpet, paint, newer light fixtures, updated vanities in baths. Not a condo conversion! Central location, close to shopping, schools, park, beach, freeway access. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage and HomePath Renovation Mortgage Financing. For more information, visit http://www.sdmyhome.com/ Mark Kunce Keller Williams Realty SD Metro 619-796-6275 DRE# 01458113 Location: Ocean Beach it's NOT ok to contact this poster with services or other commercial interests 12/09/2010

I am writing this post Saturday night, but being ActiveRain's servers are on the east coast, this post is technically written on Sunday :) I had a rough week with my blog. I experienced my first case of writers block, I took 2 listings this week, I hired a new employee, and overall, I had a VERY busy week. Sometimes, all it takes is a relaxing night at the beach to get back on track, and who wouldn't love watching a sunset like the one I am sitting under :) Have a fun Sunday, GO CHARGERS!! 11/06/2010

Ocean Beach is one of the most laid back beach communities San Diego has to offer.  Here one can find anything from vintage and antique shopping to casual beach bars and fine dining.   Most of the stores, restaurants and bars are locally owned and managed which helps keep that small town feeling alive here.    Ocean Beach is known for its farmers market, San Diego’s largest farmers market, Dog Beach, one of San Diego’s first beaches that allowed dogs,  and its concrete pier which is said to be the longest pier on the west coast. Home styles here range from the smallest of beach cottages to very large upscale homes with breath taking views. 10/22/2010

  This is one of a series titledOut & About with Jim Frimmer, your Realtor in Mission Valley.Read others in this series by click on Out & About. Just a few miles west of your Mission Valley condominium is a beach where you can take your dog and let it run wild. Just hop on Interstate 8 and take it all the way to Ocean Beach: Dog Beach is in the San Diego community of Ocean Beach, and according to legend, verified by a commemorative plaque, Dog Beach was the first leash-free dog beach in the nation. Although you can find people there without dogs — some just watching the dogs, some jogging through — the beach is set aside for dogs 24 hours a day, 7 days a week. Dog Beach also happens to be one of the few areas in San Diego County where you can see sand dunes as most beaches are surround... 08/01/2010

In the many years that I have lived in the San Diego community which is 25+ we have had our challenges. Local city budget issues, Local city growth-plus the challenge of a changing economy, the newest is the challenge of the aggressive homeless person/group that is panhandling down in Ocean Beach. Characterize - by the following: •·         Young •·         Able body •·         Rude •·         Aggressive •·         Travel in groups •·         Brandishing weapons •·         Unfriendly dogs. & the use of fowl language. •·         Demanding money/change.   These young homeless are being willfully destructive and travel in pacts, and maliciously destroying shop owners property and assaulting potential customers.  These transients known as "travelers",   move from city to city.   For them ho... 06/22/2010

Hello and Welcome to Ocean Beach California Free Foreclosure Auction Search, Bank Owned REO, Short Sales, and Homes for Sale. November 10th, 2009 Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding.  Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone?   We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them. Understanding the overall process is the key, and here is how the process goes as an overview: Pre-Foreclosure (Also known as Notice of Default).  Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage.  Under the new California Foreclo... 01/13/2010

                                                                              Hello to all you Ocean Beach San Diego Bank Owned Homes Lookie Loos~!                                                         Guess What?                I read your mind! I know exactly what you were searching for ! Ha Ha! Search Ocean Beach Homes For Sale, Ocean Beach Condos, Ocean  Beach REO's, Ocean Beach Bank Owned Homes  (San Diego REO Properties) 09/14/2009

Ocean Beach, affectionately known locally as OB (no initials), is a neighborhood within the San Diego city limits, only about five miles north of downtown San Diego. It likes to call itself an "unpretentions beach community," being a fairly liberal community in the heart of a fairly conservative city. Shops are still locally owned and managed, although a Starbucks moved in several years ago, causing quite a controversy. Along with the morning marine layer of clouds followed by the afternoon sun, there are jet airplanes roaring overhead after taking off from San Diego International Airport, military helicopters doing an occasional fly-by, dogs playing and barking at Dog Beach where dogs can roam off leash in the sand and surf, waves pounding the rocks and cliffs at Sunset Cliffs, and th... 06/11/2009

Yessir, locally here in San Diego we have our eclectic community of Ocean Beach, and within that community is one of the best places to eat - O'Bistro - located on Voltaire between Cable and Bacon.  It is a casual place, dogs are welcome as they are in most places in Ocean Beach, and the patio during rain storms is one of the coziest places to sit, eat, enjoy a full bar menu and listen to the rain falling. Their menu is simple yet unique - try and Afternoon Delight sandwich, their Seared Ahi Wrap or simply indulge in their magnificent Lobster Bisque. Can you tell I'm a fan - and I totally recommend to anyone wanting a fun, funky yet amazingly cool dining experience! http://obistrocafe.com/ Thanks, Jane 04/11/2009

If you're thinking about an ocean-front property in San Diego, one where you can hear the waves and even enjoy a walk along the ocean, think no further than Sunset Cliffs in Ocean Beach. There are any number of architectural styles available to match the variety of beautiful sunsets. The following slide show takes you on a walk along Sunset Cliffs Boulevard west from Point Loma Avenue to Sunset Cliffs Natural Park at Ladera Street. Although I specialize in properties along the Interstate 8 corridor, which ends at Sunset Cliffs and Ocean Beach, I can find you the right property at the right price anywhere in San Diego County. If you want to enjoy San Diego's magnificent weather in your very own home, give me a call or visit my web site. I'm available 24/7 to help you with your real esta... 02/02/2009