Nevada Real Estate >> Las Vegas Real Estate Specialist: Short sales and San Diego mortgage rates

Short sales and San Diego mortgage rates

I have many clients looking for homes who ask about short sales.

Short sales are properties that are sold for less than what is owed.  A property owner's short sale agent asks the bank to accept a lower offer and allow their home seller to walk away.

Can you buy a property for less than it is worth if it is a short sale?

cash

 

It depends if you hire a "short sale specialist" to handle negotiations for you. 

Real estate agents have "specialties". 

*  Relocation                 * Luxury home

*  Short sale                 * Residential (most common)

*  Commercial               * REO (Bank owned foreclosures)

* Estate/Trustee            * Agricultural/Farm

 

Short Sale Nuances

* Short sales require negotiations and paperwork that are not normally involved in regular residential purchase transactions. 

* Qualified & experienced short sale specialists increase your chances of buying the property under market value. 

* Experience is required to know which forms to file and more importantly when to file them.

* Short sale specialists get "priority" because they forge relationships with a banks short sale staff

* Laws and methods must be followed, timing of filing necessary documents is critical

 

If you are interested in listing or buying short sale property in Northern and coastal San Diego, contact Melissa Zavala.

 Escondido Short Sale SpecialistHaving worked for several years as an active Broker/Owner in San Diego County, Melissa has become a master at closing pre-foreclosure transactions. This is beneficial to owners of distressed properties, and other Realtors® as well.

Hundreds of real estate agents located in San Diego County and throughout California have hired her team to negotiate their short sales. These agents understand the value of outsourcing administrative tasks, and have tripled their income as a result.

If you are working short sales or would like to learn more about short sale negotiations, visit her website or give her a call today!

 

Mortgage Interest Rates for Fixed Rate Mortgages*

Rates as of Friday, 4th December, 2009:

   Conforming              Term       Rate           APR       Payment          Conf.        APR        Payment

                                                                             per $1,000       Jumbo       APR       per $1,000
  Term Conforming APR Payment per
$1,000		 Jumbo APR Payment per
$1,000
30-Yr. fixed 360 4.625% 4.796% $5.14 4.75% 4.767% $5.22
15-Yr. fixed 180 4.125% 4.419% $7.46 4.25% 4.280% $7.52
7-Yr. fixed ARM 360 3.75% 3.912% $4.63 % 0.000% $0.00
5-Yr. fixed ARM 360 3.5% 3.660% $4.49 3.500% 3.516% $4.49
10 Yr. fixed ARM 360 4.375% 4.543% $4.99 % 0.000% $0.00
5-Yr. Interest Only 360 3.625% 3.786% $3.02 % 0.000% $0.00
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Certain credit requirements and other conditions apply. This is not a guarantee to lend. Rates based on a 12 day lock period and a minimum loan amount of 165,000. Credit determination must be made prior to approving rate. Equal opportunity lender. CA DRE Lic.#01366552 FPF CA DRE Lic#00654852 Nevin's NC Lic#I139451 First Priority Financial NC Lic# B-146523-101 OR ML3337 WA 510-MB-30588-51099

 

 

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  The opinions expressed in this blog are not necessarily those of First Priority Financial.

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3 comments • Nevin Williams, San Diego's best mortgage pro! • December 04 2009 01:18PM

Comments

Love the shout out for Melissa!  What a great team you two make!

Posted by Renee Burrows - Las Vegas Real Estate - (702-580-1783) www.ShackDiva.com (BrokerThe Force Realty-REALTOR-Estate-Probate-REO-Short Sale) over 2 years ago

Renee - Why thank you!  Appreciate you stopping by  : )

Posted by Nevin Williams, San Diego's best mortgage pro! (First Priority Financial, San Diego jumbo & conventional ) over 2 years ago

Without a good agent, a short sale contract can get very, very lost. 

Posted by Stanton Homes - Penny Hull Raleigh New Homes | NC Custom Homes (Stanton Homes - Building Exceptional Custom Homes) over 2 years ago

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