The answer is “yes” and “no” and “maybe.” According to an excellent chart that is available for download (http://www.scribd.com/doc/85625440/Loan-Waiting-Periods), if you are obtaining an FHA loan for your next purchase, there may be no waiting period for a borrower who participated in a short sale to buy again. However, that borrower would have to have completed the short sale with no late...
When selling your home setting a fair price will often net you more money that asking an artificially high price. Pricing your home correctly will often create a multiple offer situation causing the home buyers to compete against one another. Selling your home with too high of a price tag will scare off potential buyers. Setting an artificially high price may cause your property to languish on the market...
There is no law that says you need a Realtor to sell your property in California. That being said, real estate is a complex transaction involving the sale of what is very likely one of the most valuable assets you own. The legal requirements involved in buying and selling property in California have become increasingly complex in the past several years. An active licensed Realtor is trained in...
CMA is real estate acronym for “Comparative Market Analysis.” A CMA is prepared by a real estate agent providing data comparing your property to similar properties in the area. The first thing an agent will need to do to provide you with a CMA is to visually inspect your property. This inspection won’t be overly detailed – just a visual walk through allowing the agent to make an accurate...
The answer to this question does not have any clear cut and dry answer. There are quite a few variables involved when trying to figure out when someone will be able to purchase a home after a foreclosure or short sale. Much will depend on the circumstances that led you to foreclose; generally it can take anywhere from two to seven years. Of course it also depends on how you have maintained your...
Clients visiting our office often ask for a list of “all available properties.” The first question I ask is to determine whether they will be renting out the property. Only some areas within the Town of Mammoth Lakes are zoned transient rentals (check the town’s website). Many people are not aware most single family homes cannot be rented out on a nightly basis. This narrows the search...
Whether you’re a seller in the middle of a real estate problem or you're searching real estate listings as a potential buyer, it's important to know the difference between a foreclosure and a short sale. Foreclosure is a far worse fate than a short sale if you are the seller, but as a buyer of a distressed property, a short sale is often the more difficult process to wade through. A property that has...