MagnumOne Realty - Keep it Real in Sacramento

Going, going...

2009-08-18T17:16:00Z

Well it is almost gone but there is still time to take advantage of the first-time home buyer’s tax credit of $8,000. The federal program is set to expire on November 30 and if you or someone you know wants to take advantage of the available credit see my column, “ First Time Buyers Credit Deadline ” over at Rocklin & Roseville Today....(read more)

Asbestos: Understand the Risk

2009-08-06T21:34:00Z

I am an never will be one to trumpet my environmental contentiousness as I really detest those individual and companies that use “Going Green” to promote their business. I personally believe we should each do what we can and are comfortable with to maintain our environment. In that light I have posted an article about asbestos on my websites Real Estate News page. It is titled, “ Preventing Asbestos Exposure and Green Alternatives for California Home Owners ,” and is a guest...(read more)

Another Busy Week

2009-07-31T19:38:00Z

It has been a busy week here at MagnumOne Realty. We have been working with a nice combination of buyers and sellers and making good progress on some of our short sales. For me having a few new buyers has been a breath of fresh air and we have been enjoying looking at homes in Rocklin, Roseville, Folsom and Fairoaks. On the short sale front, we had two approvals this week and several milestones such as valuations completed, negotiator approvals that have now been sent to management or investors for...(read more)

Dry Spell

2009-07-21T20:24:00Z

Here I am again! As much as I have enjoyed maintaining this blog over the past 4 years I have been guilty of “dropping off the grid.” The real estate business has grown in complexity and to get the same results takes more work, time and energy. June was a very stressful month as we closed several very complicated short sales and I needed a break to recharge. We just returned from a great week at the beach and ready for the second half of the year and hopefully to do a better job with...(read more)

Saturday and still talking short sales

2009-06-27T15:12:00Z

This has been another busy week of dealing with short sales and lender negotiators so I am using Saturday to catch up a bit on my blogging. I just published my weekly column over at Rocklin & Roseville Today, “ Getting Short Sales Done in Sacramento .” Check it out if you want to get a small taste of what it takes to negotiate a successful short sale. We are continuing to be busy at MagnumOne Realty and are dealing with a nice group of buyer and seller clients. The market for homes...(read more)

The Ugly Side of Short Sales

2009-06-18T16:04:00Z

I have recently been writing about the benefits of short sales in my weekly column at Rocklin & Roseville Today which is also carried over at Sacramento Today . The column today was, “Sacramento Short Sales – Good for All.” I really do believe short sales are win-win transactions where more than just the homeowner and lender benefit but there is an ugly side of short sales too. Our team at MagnumOne Realty has been successfully completing short sales for the past three years....(read more)

Staging on a Budget

2009-06-16T18:03:00Z

If you or someone you know is selling or going to sell your home, check out my column, “ Staging Ideas on a Budget ,” over at Rocklin & Roseville Today. I am tired of showing clients dirty, messy and poor showing homes. The ones that show well get sold quickly. I am about ready to unleash a new Countrywide/BofA RANT….it is coming soon!...(read more)

Short Sales as a Financial Tool

2009-06-02T16:41:00Z

With local schools getting out for the summer this and next week we should see an increase in the already busy Sacramento real estate market. Unfortunately much of this will be more short sales as more and more homeowners who owe more on their homes than they are worth realize getting out from under the debt and starting over makes sound financial sense. Homeowners who used 100 percent financing options or refinanced to pull all their equity out a few years ago are beginning to understand that it...(read more)

Getting Help to Achieve the American Dream

2009-05-12T15:52:00Z

The first-time home buyer tax credit of up to $8,000 can be a significant help during the remainder of 2009 for buyers who have not owned a home in the previous three years. Check out my column, “ First time home buyer’s tax credit ,” over at Rocklin & Roseville Today for the details of the program. I believe this is a good program and will help not only to revitalize our Sacramento real estate market but will help buyers get their first home....(read more)

Sacramento Short Sales

2009-05-11T19:44:00Z

We are beginning to see short sale junior lenders flexing their muscle. A year ago you could count on the junior lender to pretty much roll over and take whatever allowance the senior lender allotted to them for their lien release. Now, they are holding out for more money and most are asking for the borrower to sign a letter saying they will remain responsible for any shortfall amount. Trying to help struggling Sacramento homeowners avoid foreclosure by modification of their mortgage or a short sale...(read more)

Worst to best with a flaw

2009-04-28T16:03:00Z

Two years ago when a client told me they wanted me to short sale their home and their lender was Wells Fargo, I would visibly cringe. Dealing with Wells Fargo in those days was a nightmare. They didn’t have sufficient staffing to handle the requests, their process was weak and it took so long that when you got the approval the buyer had moved on so you had to start all over and nobody at Wells cared. Today they are one of the fastest, they make status update calls to you and often you can deal...(read more)

Loan Mods and Good to be Back!

2009-04-23T15:05:00Z

It seems like almost daily I am talking to a homeowner about short sales. When they are asking me to help them short sale their house to avoid foreclosure I always ask them if they tried getting a loan modification to stay in the house. The most common answer is that they called their current lender who politely said they were not interested. Okay, maybe it wasn’t so polite but they at least said call a Realtor and request a short sale. There are other avenues for help besides the current lender....(read more)

Kentuckyanna

2009-04-15T14:40:00Z

It is always fun to get away for a few days and even better when you return and appreciate home. Last week we traveled to Elizabethtown, Kentucky to visit Michael’s son Mark and his family. I enjoyed spending time with them and seeing Kentucky. I heard about the terrible ice storm they had this past winter but until I saw the devastation it caused I didn’t understand the impact. Kentucky is trees; almost every road is cut through a forest of trees or rolling green hills surrounded by...(read more)

More Good News for 1st Time Buyers

2009-04-01T15:56:00Z

Starting tomorrow the California Association of Realtors will start a new program to help first time buyers who are worried about the economy and not being able to make their mortgage payment if they lose their job. The program, C.A.R. Housing Affordability Fund Mortgage Protection Program is designed to give these new homeowners some peace of mind by providing them with up to $1,500 per month for up to six months in the event of a job loss. In addition a co-buyer can participate for a reduced benefit...(read more)

If I had only known

2009-04-01T15:55:00Z

These are words we never want to hear ourselves saying, especially as it relates to selling your home. I recently met a former homeowner who now has a very nasty tax issue as a result of not understanding the consequences of debt forgiven by a lender when they completed a short sale. Unfortunately he was not using an agent who had much experience. The agent told him about the law passed in 2007 which allows the IRS not to count debt forgiven by a mortgage lender as income. She did the right thing...(read more)