Real Estate Information

properties, we understand the negative impact these homes can have on neighborhoods and communities,” Hagen Mooney said. “That’s why our policies and programs are designed to maintain home values, reduce losses, and stabilize communities.”

Hagen Mooney points out that more than 70 percent of Freddie Mac’s REOs are sold to owner-occupants.

She says while the GSE has always been open to selling to investors, the company’s strategy is to limit the concentration of investor sales in any given area. She adds that Freddie Mac typically doesn’t consider any offers that require significant discount pricing.

Hagen Mooney also highlights the company’s “Good Neighbor” property preservation and maintenance best practices, which are designed to ensure that buyers purchase Freddie Mac homes in move-in condition, and that property values are maintained for neighborhoods.

The GSE’s “Good Neighbor” policies mandate that within three business days of a confirmed vacancy, each home is secured, preserved, and cleaned. The company’s contractors then continue to monitor and look after the home until it’s sold, including maintaining the landscaping.

Freddie Mac’s sales cycle for its REO homes is about 120 days, which the company attributes in part to its “top-performing broker network.

If you are Bank of America and you have 1000s of vacant homes that are literally rotting..becoming neighborhood hazards what do you do?

Tear them down.

If you don’t demo the unsold, unwanted properties the banks are on the hook for the property taxes, the property violations, crime, utilities…etc.

Expect more unsold properties to be demolished and the foreclosure rates continue to climb through 2012 into 2013.

If you’re looking for a fun and active place to go with your family this weekend, come out to the Fontana Boys and Girls Club for the Worldwide Day of Play! This FREE event is taking place on Saturday, September 24 from 12pm-3pm in Fontana, California. Here you can enjoy great activities like relay races, arts & crafts, video game tournaments, game room tournaments, face painting, balloon animals, family picnic games, and much, much, more!

This event is being held in order to get families to spend quality time together while getting exercise and having a ton of fun, so make sure you don’t miss out on this great opportunity to do so with your family in Fontana!

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Termite inspections are a necessary inspection required by many states in the home sale process. If a home has termites, they can create significant damage and even destroy a home if left untreated. No one wants to hear that their current or potential home has termites, but it’s better to address a known problem than to live unknowingly with an infestation.

In fact, if you notice evidence of termites, there’s a good chance the infestation is already quite advanced.

If you have any worries at all about termites in your home, the best course of action is to locate a pest control or termite inspection so that you are aware of the full extent of the problem. Of course, pest inspections are an important part of the overall inspection process, so make sure you hire an expert in the field:

1. Check out online or yellow page listings under Pest Control for a licensed, bonded inspector. Your real estate agent can also be helpful in locating a company for you.
2. Request estimates for the inspection cost and compare rates.
3. Make sure that you get a copy of the inspection report and course of action needed before signing any contract papers.

It is important to know that buying or selling a home usually requires a clear pest control report. The inspector looks for termite infestation as well as other pest infestation, plumbing leaks, obvious roof leaks, dry rot and water damage. Make sure that all areas of the home are accessible for the inspector. Try to stick with companies that do inspection and treatment only – and leave any wood repair to carpenters or contractors.

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This Sunday, September 18th, you will have the opportunity to learn tips on how to help keep you and your family safe in an emergency. Ontario Mills Mall in Ontario, California is hosting a Community Emergency Preparedness Fair for FREE for anyone that wants to attend. Here, you can gather valuable information to help you prepare for various kinds of emergencies and give you some peace of mind.

You will learn how to follow these four simple steps: “Get a Kit. Make a Plan. Stay Informed. Get Involved.” This important event will be held from 11:00 am to 3:00 pm on Sunday, so make sure you take the time to stop by the mall in Ontario! Please visit the event flyer for more information.
 

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Selling a home through a short sale has become a popular alternative to foreclosure. It is a good idea for both buyers and sellers to understand what is involved in this process. Here’s what you should know if you are considering purchasing a short sale property:

The Basics

The bank does not own the property, but it is the party that will take the loss. That means the bank will be the one to approve the offer, not the seller. It also means that the property will be sold as is and the buyer will be responsible for any repair costs. Since the bank is taking less than what is owed, there is not much room for negotiation. You will make an offer on an agreed upon amount; and at the end of the process, the offer may or may not be accepted. The bank may also continue to accept offers from other prospects.

Be Prepared to Wait

If you are in a hurry to close on a property, purchasing a short sale home is probably not for you. The bank may take several months to review and approve or decline the offer. You may want to introduce yourself early on in the process with the bank’s loss mitigation department, so that you can at least stay informed along the way.

There’s No Guarantee

A short sale can present a real bargain – although there is no guarantee that the offer will be accepted. In some states, the seller may also be liable for making up the difference in the sale price and loan amount to the bank, which may affect the price the seller is willing to accept from you. The discount on the selling price may not be worth the wait and aggravation of dealing with the lender. Do your own market analysis to understand the real value of the home and the neighborhood.

It’s best to work with a realtor who is experienced in the short sale market. The realtor can help you through the process, including determining that the short sale is already lender approved. While some short sales do work out, they present high-risk transactions for all parties involved. Do your homework and understand both the benefits as well as the challenges that may be involved.

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Every Friday evening September 16 through October 21, you can spend a night under the stars watching family-friendly movies at The Shoppes Promenade in Chino Hills! The movies always begin at dusk, which is approximately 7:30 p.m. These movies are FREE for everyone, so why not bring your blankets and lounge chairs for a great time out with your family in Chino Hills!

The movies will be shown as follows at 13920 City Center Drive (The Shoppes Promenade):

September 16: Gnomeo & Juliet

September 23: Nanny McPhee Returns

September 30: Rio

October 7: Mars Needs Moms

October 14: Rango

October 21: Soul Surfer

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