Labels: Boise, Boise Real Estate, News, Short Sales

Would you be a good neighbor if we sold you a home for half price?

Okay you can only buy a house from HUD for half of the listing price if you are employed as:

1) A law enforcement officer
2) Teacher (pre-kindergarten through 12th grade)
3) Firefighter
4) Emergency medical technician
5) You are not a current homeowner or have not owned real property in the past year

What is the Catch?
Here's the fine print.

Labels: Boise Real Estate, Buying Tips, Discount housing, HUD, News, teachers

While most of us are probably more worried about identify theft or online fraud, it's important to remember that thousands of home break-ins occur over the holiday season.  Here are some highlights of common sense measures to protect your home and your things.

• First and foremost, lock up! Whether it’s a short trip to the grocery store or a longer haul to finish some holiday shopping, make sure your doors and windows are securely locked.
  
  
• Never leave boxes from expensive gifts laying on the curb for trash pickup. Consider crushing them and placing them in a large, black garbage bag.
  
  
• Remember that nothing is more effective at deterring a burglar than the impression that the home is occupied. Make it look like it is by installing timers on your lights.
  
• “Have a friend or a neighbor collect your mail,” Lisle says. He also recommends temporarily stopping newspaper and mail service if your neighbors can’t help you out.
  
  
• Store valuables like jewelry in a secure place.
  
  
• Keep your garage door closed at all times. Garage doors are a favorite point of entry for burglars.
  
  
• Be sure that your trees and shrubs don’t hide windows and doors. Blocked entrances can make it easier for burglars to get into your home unnoticed by neighbors and passers-by.
  
  
• Leave spare keys only with trusted family members or neighbors you are close to. Do not hide them outside. Burglars are smart enough to look around and know the common places people hide keys.
  
  
• You may also want to consider a home security system. Check online or look in your phone book to find companies specializing in home security.

Most experts agree that your neighbors are your best defense. Get to know them and chances are they will be more likely to watch for suspicious activity around your home while you’re away.

Visit the National Association of Homebuilders' site for the full article.

Labels: Articles, Home Maintenance, Real Estate

Boise Idaho: it's a Sellers’ Market!

Four years ago that meant sky-high prices and bidding wars as people were desperate to buy any house at any price.

Consequently offers way over asking prices and waiting just hours for sellers to respond were the norm. Today's market is different. We are getting multiple offers but from educated buyers not desperate ones. Most properties have back-up offers in place as the short sale listings are a bit more challenging to complete, and REO properties are priced exceedingly well for the most part. The good news for buyers is this sellers’ market has buyers’ market prices so it's a home run for those with cash or financing options.

By realistically pricing our properties we have had almost 100% under contract within a few weeks of listing them. Not every home gets realistic pricing as we work with the banks and loan companies and follow their guidelines for some price structure.

The driving force of our educated buyers is a mix of investors and first time home buyers who have done their homework and know exactly what they can or cannot spend for the right property. As a homeowner we want you to fall in love with your home. As your agent we won't let you overspend for the right one.

Here are Dad’s words of wisdom. "In panic people sell when prices are falling and buy when prices are climbing." Or people tend to buy high, sell low. Our current market is past the panic time. It's too late to panic; you missed it. So now the smart move is getting educated and buying. Start your search now.

Labels: bank owned, Boise, first time homeowners, Investment, reo, Short Sales

Most banks figure they're doing homeowners a favor simply by agreeing to a short sale and forgiving the amount they owe. But in some cases, Chase borrowers are getting that and cash.

Chase, one of the nation's largest lenders, is quietly offering some homeowners a deal many distressed homeowners think is too good to be true (we get calls all the time!).

Chase is giving borrowers $5,000 to $30,000 if they’ll agree to short sale their house. (A Short Sale is selling the home for less than they owe on the mortgage. See more here.)

The program launched last fall, and information on who qualifies and who doesn't is still an insider secret as Chase is mum on the details. Chase is aggressively targeting its problem loans as some homeowners receive a letter before their property is listed on the market. By using our successful transactions in dealing with Chase, we have compiled a list of Chase's target loans. Here are a few of the common ones:

The homeowners have a Chase "portfolio" loan, or a loan owned by Chase but not serviced by Chase.

Or the homeowners have a bad loan (adjustable rate is too high), maybe they tried a loan mod, or did a quickie refi.

Investment property gets the nod as well.

The official name of the program is a mystery as well; some say it's the "Chase Incentive" program, while others call it the "List Assist".

What we believe has happened is that the original loan was bought by Chase (from companies that have dissolved such as WaMu, Countryside, IndyMac), and it was bought out for pennies on the dollar. Now the banking industry is being legally challenged to prove it has the right to foreclose. When asked to present original documents on these bought-out loans they cannot produce them. So a quick and profitable fix is offer cash to distressed homeowners. Chase will make more money if a property goes away fast in a short sale vs. attempting foreclosure and being legally challenged to produce documents they will never find.

Bottom line so far is a win for everyone: homeowners are assisted with CASH, no soft notes, no risk of judgments, less paperwork. Chase cleans up its banking mess. Transactions are fast.

Call us and we will help you to see if this program will work for you.

Footnote: Wells Fargo just launched this and Bank of America is expected to go public this fall with a program as well.

Labels: chase, Incentives, Short Sales

We all have been touched by the recession. Who has not heard of Loan Mods or Short Sales? Most of us even knew of someone who had been foreclosed on. All of this was foreign to the masses until the past three years.

We have been thinking outside the box and have options for past Idaho homeowners to get back into the American dream.

Were you one of the many that were forced to short sale your home? Would you like to buy again in this buyer's market?

We may have a great solution: it's called credit restoration. It differs from credit repair in that it's potentially a 2-6 month fix instead of a five year plan. In a nut shell your credit is reviewed to determine what reporting issues have been incorrectly reported (including your short sale) and at that point resolving the bank errors which jumps your credit score up 50 to 100 points. That bump puts homeownership within reach of most people who had a short sale.
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Why it works: The banks have been in the news for the huge mess they have been creating in the current housing market. They have been scrambling to keep up with the huge amount of delinquent loans and have made a ton of errors. This is good news for you. By doing this much of your information has been incorrectly reported and you have the right to have it corrected. If the banks can’t provide the necessary documentation needed to correct it then potentially it may come off of your credit report. By fixing the errors your credit score goes up and you may be able to buy a new home much faster than you originally thought.

There are a couple of different options available to move forward on this process and we have the resources and the team members to help you with this.

Can we help you? Call our team today and find out.

Labels: Avoiding Foreclosure, credit restoration, loan modification, Short Sales

This week some of you might find this Wall Street Journal article interesting.

Labels: News, Opinion, Real Estate

There isn't much to say about September 11, 2001 that hasn't been said. But we will remember and honor the fallen, especially those first responders who died trying to save others and the brave men and women on United Airlines Flight 93.

CoStar has a great article about New York City moving forward in one of the most difficult but tangible ways: rebuilding at "Ground Zero."

Read it here.

Labels: News

Beginning September 1, thanks to a new law, Idaho homeowners will enjoy further protection when seeking loan modification. With a loan modification you take the mortgage you now have and change the interest rate and payment requirements.According to the Better Business Bureau,

"The new law also allows homeowners to request a meeting with their lenders to discuss foreclosure prevention options."

“Homeowners in foreclosure or in danger of foreclosure should familiarize themselves with the rights this new law affords them,” Attorney General Wasden said. “To help homeowners and lenders understand the law, my office created a webpage dedicated to mortgage loan servicing and foreclosure issues. It is available at www.ag.idaho.gov.”

According to the news release, the law requires lenders to notify homeowners whether they qualify for a loan modification within 45 days of a modification request. Lenders may not proceed with a trustee’s sale during the 45-day period. Homeowners also will receive written notice of the date and time of a future trustee’s sale if a scheduled sale date is postponed.


This is good news. Imagine your frustration if, while trying to avoid foreclosure and all its implications, you request a loan modification and never hear back from your lender. Foreclosure proceedings appear to go on without your knowledge or understanding. What a feeling of helplessness!

Please take a moment to read the entire press release, which includes names of real estate reports that are offered for homeowners in distress, phone numbers for help obtaining a mortgage modification [(888) 995-HOPE.]and more.

For more information about avoiding foreclosure, exploring alternatives or short sales, please visit Boise's Best Short Sale site or request a copy of Nine Alternatives to Foreclosure in Idaho.

Labels: Avoiding Foreclosure, Boise Real Estate, Foreclosure, Fraud, News, Short Sales