What Is A Home Short Sale| Short Sale FAQ's- What is a Short Sale? A Short Sale is the sale of a home when the net proceeds do not fully pay off the existing mortgage loan(s) and the Lender is willing to accept a discounted payoff. The closing costs that are typically paid by the Seller are paid out of the proceeds from the sale, including but not limited to, commissions, escrow and title fees and any negotiated Buyer’s cost. Your home is sold and you avoid foreclosure. Why would my lender accept less than what is owed on my mortgage? Lenders are in business to lend money, not to own real estate. They do not want the expense of the foreclosure process and/or the holding and maintaining of the property if it does not sell at foreclosure. The foreclosure process is very expensive and time... 07/23/2010

Short Sale Alternatives| What are your options? Before you consider a short sale, you must look at all of your options.I'ts important that you weigh each Short Sale Alternative against each other and an actual Short sale.  Here are some options: Refinance | If you're current with your mortgage payments then this is a pretty good option. But typically speaking, distressed homeowner don’t have any equity in their home and their credit is shot so this not going to be an option for many. Do nothing or walk away | The Implication is clear here and the lenders only option will be to foreclose on your property. Lender Workout | Your lender may be willing to: 1.Add the missed payments to the existing loan balance. 2.Change the interest rate, including making an adjustable rate into a fixed rate... 07/22/2010

What Is A Non Judicial Foreclosure| Non-judicial foreclosures are processed without court intervention, with the requirements for the foreclosure established by state statutes. Most Foreclosures in California are Non-Judicial foreclosures. In a Non-Judicial Foreclosure there must be a power of sale clause in the mortgage/loan document or deed of trust. This is a clause saying that the home owner agrees to allow the lender to sell the home in the event the buyer defaults on the loan. Of course there are a number of steps involved that allow the home owner to “make good” on the loan by catching up payments and even renegotiate the loan so they can stay in their home. If that’s just not an option the homeowner can exercise, eventually the Lender will publish a Notice of Default, a Notice o... 07/21/2010

Hardship For Short sale | What qualifies as a hardship? Here is a Simple “Hardship Test” that will give you an idea if you qualify for a Short Sale. Ask yourself: Have you lost your job since you’ve purchased your property? Have you become disabled or had a bad accident since purchasing the home? Have you been recently divorced Have you experienced a death of a spouce Have you had a business failure Have you experienced a natural disaster Have you experienced sudden illness Are you encountering Large Medical Bills for you or your family since the purchase Have you been relocated to another city or state? Has the interest rate on your loan gotten out of control and beyond your ability to afford the payment?You must be able to prove hardship to the lender. The lender will look at each ind... 07/21/2010

Things To Do In Pasadena California- As they say, some of the best things in life are free! And it cost you absolutely nothing to do a walking photo tour of Pasadena. I start every day (no kidding, every day) with a one hour power walk. Many of those mornings I will do my walk or jog through some of Pasadena's most beautiful neighborhoods. I belong to the 24Hour Fitness on Colorado Blvd and rather than bore myself to death on the treadmills, I do my cardio outside. Every once and awhile I will bring my camera along with me and the photos you see here today are the result of a very recent walk South on S. Los Robles & S.Oakland Ave. Besides the health benefits of my walk, I need to keep track of local inventory and somehow I feel like I keep a better thumb on the market by personally to... 07/06/2010

July is just around the corner, 6 months have passed in Pasadena Real Estate.  Here are single family attached & detached home sold in the first quarter of 2010 reported to I-Tech MLS.   Month Total Sold Average SF Average Price Per SF Days on Market Original Price AVG List PriceAVG Sale PriceAVG SP % LP JAN 50 1,803 $360.03 84 $697,324 $672,235 $657,354 97.79 FEB 47 1,814 $356.07 81 $690,839 $663,837 $652,809 98.34 MAR 62 1,837 $366.20 69 $720,984 $702,773 $689,877 98.17   Month High Price Low Price Median Price JAN $3, 560,000 $175,000 $526,500 FEB $3,250,000 $128,000 $562,000 MAR $2,650,000 $135,000 $607,500 In January 2010, 27 of 50 closed sales were at list price or over. In February 2010, 24 of 47 closed sales were at list price or over. In March 2010, 26 of 62 closed sales were a... 06/29/2010

Clogged drains can ruin your summer. There is no reason to wait to have them unclogged. For a limited time, a professional and licensed technician from Schuelke Plumbing will come out to your home and unclog any drain for the low price of just $68. That is an unheard of price, especially in the Los Angeles area. Usually you get what you pay for, but with Schuelke Plumbing, you can expect much more. Their work and customer service is second to none. Look at some of the benefits of choosing Schuelke Plumbing to Hydro-Jet your drains clean for example: Free follow up inspections as part of the Schuelke Plumbing guarantee Guaranteed for up to 5 years Lateral camera inspections for only $75 We own and operate our own equipment, and train our own staff (unlike the competition that send you a ... 06/29/2010

FHA Property Guidelines| Finding FHA Approved Homes & Condos: Once you are qualified for a FHA (Federal Housing Administration)loan you will now have to find properties that meet FHA Guidelines and Restrictions. Because, not all Homes qualify for FHA! This is one of the big differences between the FHA Loan Vs Conventional Loan. Let's go over some of those FHA Property Guidelines for property condition. Property ConditionFirst Time Home Buyer Los Angeles-Pay special attention to this because many of you are going to be using this loan program! Property condition is of major concern when searching for your new (or new to you) home. Here are some basic ideas to keep in mind when you're looking at the property's condition: FHA Okay * Cosmetic Wear & Tear * Outdated but in generally good con... 06/27/2010

What To Do In Pasadena California | Pasadena City Hall  is full of wonderful “photo ops” and a great place to start your journey before heading off Old Town Pasadena or Paseo Colorado Pasadena for Lunch. This California Mediterranean style City Hall of ours (designed by San Francisco architectural firm of Bakewell and Brown) was originally completed in December 1927 and is in the Register of National Historic Places. It was closed for restoration and retrofit in 2004, reopening in 2007 quickly becoming a “favorite historic building in Pasadena” by locals in the city of Pasadena and tourist alike. The ornamentation, fountains, rose gardens and the general ambiance have inspired many couples to host their wedding photos inside and around Pasadena City Hall. And it’s no wonder considering... 06/25/2010

Pasadena FHA Loan & FHA Jumbo Loan info - VanDyk Mortgage - California FHA Lender. VanDyk Mortgage is your source for FHA Loans in Pasadena. We have been making FHA loans since 1987. VanDyk Mortgage is a Direct Lender. We offer FHA & FHA Jumbo loan programs for Pasadena Homebuyers and Pasadena Homeowners to Purchase and refinance homes. FHA loans up to $417,000 FHA Jumbo Loans - up to $729,750 FHA Jumbo are also called FHA High Balance loans Pasadena FHA Loans are available up to $729,750 with just 3.5% down payment. The FHA 2011 Loan Limit for Pasadena is $729,750. Pasadena FHA Loans that are over $417K up to $729,750 are called FHA Jumbo or FHA High Balance loans. Here are some links to local Pasadena information: Pasadena City Website Pasadena Crime Maps Pasadena Statistics, Demograp... 06/23/2010

  House Vs.Condo:Which one is better? This is a very common question buyers are faced with now (especially first time buyers in Los Angeles with smaller budgets). Often because there seems to be a lot more "bang for the buck" in square footage and property condition when you compare a House Vs. Condo. One of the toughest pills for buyers to swallow is the HOA Dues (Home owner associations dues). These fees over the maintenance of the building/grounds, insurance and most of the time trash and water. On the other hand, if your strongly considering buying a house in Los Angeles, there are also Home owner dues, HOAs but their not called "HOA Dues" Their called "maintenance costs"! And they don't come in a nice neat monthly package. They come in the form of: New roof $20K, Gardner $100 per m... 06/21/2010

Los Angeles Bank Owned Properties-Guidelines for buyers are plentiful right now but they sure can be a challenge to purchase. By following some simple guidlines and having a generous amount of patients, you can snap up one of these better priced properties. But because the banks are required to disclose very little about the properties condition (remember, MR or MRS Bank Never lived in that property, all they know about it is they want it sold!), it is up to you and your agent to do your homework!  Here are some very useful guidlines to bear in mind if you are considering purchasing  LA Reo Properties (Real Estate Owned, same as bank owned).  Property Condition: Many of the Bank Owned homes Los Angeles host aren't left in the best of condition. While cosmetic issues can be resolved rath... 06/17/2010

How Do I Know If I Can Afford My First Home? First time #homebuyer may be wondering, how do I know if I can afford my first #home? Please read the article .. enclosed is a link .. and hopefully you will contact me later .. :-) http://tinyurl.com/27jh5ek,    http://www.johnvostenak.com/       John Vostenak, real estate broker http://www.johnvostenak.com Contact: Agency: Century 21 Ludecke Realty 20 E. Foothill Blvd. #105 , Arcadia, CA 91006 Name: John Vostenak Phone: 1-626-408-2266 Lic.No. 00871958 web: www.johnvostenak.com   06/16/2010

Market Alert - Great rates on Conforming Jumbo Purchase and Conforming Jumbo  Refinance Loans -Opportunity Alert!  Rates for Conforming Jumbo Purchase and Conforming Jumbo Refinance Loans  (aka Conforming High Balance Loans or Fannie Mae High Balance Loans) Continue to remain at all -time lows today.    The volatility in the Euro Money markets over the past few weeks, plus the Korean Crisis, and new doubts about the economic recovery in the US have driven down US Mortgage rates, especially Conforming High Balance Loans.    If your current Interest Rate is too high (5.375% or higher),  please give us a call to get started and lock in your low rate.    These rates will not last, the markets are very volatile.   Call 760-752-4480 and we can give you a quote to see if you would benefit.  We... 06/04/2010

Yesterday we staged the second Affordable Housing condo for a real estate investment group. We destaged the first condo we staged in this development (because it had sold) and moved everything into this unit. Read: Even Small, Inexpensive Homes Benefit From Home Staging - Pasadena Home Staging Info The first unit we staged sold within the first month of staging after having been on the market for almost 3 years! The unit we staged yesterday in this Pasadena condo complex is a mirror image of the first unit. I changed out some of the artwork & accessories, just to freshen the look. Like the last unit, this condo is 1 bedroom, 1 bathroom in 600 sq. ft. These condos were staged very cost effectively and are part of our home staging program for investors, auction real estate and staging for... 05/14/2010

Today, my friend Mary Gray who owns the garden accessory store Pot-ted in Los Feliz, and I went on a tour of some beautiful and historic Pasadena gardens. The tour was part of the Garden Conservancy Open Days program. According to their brochure "The Garden Conservancy is the only national nonprofit organization founded to preserve exceptional American gardens for the education and enjoyment of the public." Six Pasadena homeowners generously opened their private gardens to Garden Conservancy guests this year. I love to look at local gardens. I always walk away with lots of curb appeal ideas for my Pasadena and Arcadia home staging clients. We saw many gorgeous gardens, but Mary and I both liked the last garden we toured, the Bixby garden, the best. It wasn't a formal garden, like some o... 04/25/2010

As a home stager in Pasadena, CA, I'm often asked where I get my inspiration from. For curb appeal, one of my favorite places is Arlington Garden, at the corner of Arlington and Pasadena Avenue in Pasadena. I'm fortunate to live nearby, and I have the pleasure of walking through the Garden several times per week when I'm walking the dogs. Here's what's happening this week (in pictures) in Arlington Garden: Purple iris in a flow of Candytuft California Poppies: With all the rain we've gotten this year, we should have a huge poppy bloom Artichokes make a very striking landscape plant (yes, these are edible) The Garden is maintained by a very intrepid group of local residents, for which I am eternally grateful. There are many lovely garden "living rooms" where one can sit down, relax & enj... 04/21/2010

A few weeks ago, my Pasadena home staging company, Moving Mountains Design, I was hired to provide home staging services for a very small (600 sq. ft.!!) 1 bedroom, 1 bath Pasadena condo. I was hired by a real estate investment company that does condo conversions and also purchases foreclosure properties including new construction condo projects that have gone belly up. Every unit in this project has sold except for this one. The unit is very affordably priced at $225,000, which is cheap by Los Angeles real estate standards. The real estate investment company is hoping that once staged, this unit will sell quickly. To see more photos of this cozy Pasadena home staging project visit my Los Angeles home staging website and read Home Staging in Pasadena For a Small Affordable Housing Condo... 04/18/2010

It's definitely starting to be the time when buying Real Estate Leads in the Pasadena area is the correct thing to do. We have seen a large increase in people moving to the area, which will only increase through the spring and into summer months. We are witnessing a huge increase in the amount of prospective home buyers that have contacted us just in the last few months. These people are contacting us requesting information on relocating to the area, or want more information in a possible home purchase. We do need a Realtor to assist these prospective home buyers. Most of these families and individuals are out-of-state buyers, and do need help! Kindly call us at (800) 900-2807 to learn how we can bring you 10 - 25 potential home buyers every month for the Pasadena, California area. Or ... 04/15/2010

A few weeks ago I was interviewed by a reporter for the Pasadena Star News for an article about home staging. They sent out a photographer when we were staging this Altadena home. Originally the article was supposed to be published on March 13th, but they held it for 2 weeks so it could be published in all of the San Gabriel Valley Newspaper Group's sister publications, I think 7 in all. I think the article gives a very well balanced look at how much home staging costs (in the Los Angeles-Pasadena real estate market) and what to expect from a home staging consultation. The article also mentions the Real Estate Staging Association home staging statistics and recommends checking the Real Estate Staging Association list of local members when looking to hire a home stager. Click here to rea... 03/27/2010