How to Choose a Short Sale Agent
January 10, 2012
There are many nuances to a short sale transaction and every short sale is unique. Therefore the short sale agent you choose can make or break the deal, so choose wisely. When researching for a short sale agent, experience is very important. Research your local market and see who has the other local short sale listings. If you have access to the MLS find out which agents have closed the most short sales. Meet with the perspective agents and make sure you are comfortable with them and don’t be afraid to ask for referrals.  Pat Holkesvig and Homes-In-NorCal.com has successfully negotiated numerous Manteca short sales, Lodi short sales, Tracy short sales, Lathrop short sales and Stockton short sales. When you choose Homes-In-NorCal.com to represent you in a short sale transaction, you can have peace of mind knowing you have chosen an expert short sale team who:
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will protect your interests
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knows the local market
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uses online technology to market your home effectively
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is familiar with the paperwork, negotiations and complexity involved
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is familiar with several lenders and their specific short sale process
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will negotiate with the lender(s)
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will stay on top of things throughout the process
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knows how to expedite your transaction
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uses online tools and resources for transaction efficiency and convenience
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is capable of sorting out any problems on a timely basis
Homes-In-NorCal.com is the San Joaquin Central Valley’s short sale specialist! Call Pat Holkesvig at 209-471-6516 or send an email to info@homes-in-stockton.com
Stockton short sales coming together!
September 8, 2011
We specialize in pre-foreclosure short sales in Stockton in San Joaquin County and are finally finding that the banks willing to cooperate. We have established relationships with banks and mortgage servicers to process short sales. They cooperate with us because we save them money and get the done. Sellers list with us because short sales can provide credit, tax and deficiency repayment benefits.  Here’s how it works:
· We assist the seller in gathering financial information to support their hardship.
· We contact the banks and or mortgage servicers on behalf of our clients.
· We find a buyer and submit the supporting sale documentation to the bank.
· We coordinate with the title company, attorneys, mortgage insurance companies, public trustees, etc. for the approval of the short sale.
Over a Quarter of All 2010 Home Sales Were Foreclosures
February 25, 2011
According to RealtyTrac 26% of all home sales last year were foreclosures. In the Stockton area 72% of sales were bank or government held and 50% were REOs. Short sales accounted for  22% of all Stockton homes sold last year. Leaving 28% that were not bank or government related sales. For more information on the Stockton real estate market, feel free to contact Pat Holkesvig & Your Home Team experts at 209.471.6516 or complete our Contact Us form.
Stockton Renters to Receive Landlord Foreclosure Notice
February 24, 2011
Over a thousand Stockton renters will receive notice this week that their landlord may be facing foreclosure. Almost half of Stockton’s foreclosures are rental properties. All renters should know their rights and not let banks and real estate agents push them into moving out until they have exercised those rights. According to Federal law a minimum 90 days notice is necessary before renters can be forced to move out of a foreclosed rental property. Renters with a lease may continue living in a foreclosed property until the lease expires unless the new owner intends to live in it. In order to check if your rental is possibly in foreclosure call the Tenants Together hotline at 888-495-8020. If you are interested in the Stockton foreclosure market, feel free to contact Pat Holkesvig & Your Home Team experts at 209.471.6516 or complete our Contact Us form.
Government to Decrease Financial Involvement in Freddie and Fannie
February 11, 2011
The Obama administration has announced a ‘winding down’ of financial involvement in Fannie Mae and Freddie Mac at an annual rate of no less than 10% per year. Timothy Geithner predicts it will take three years for the housing market to recover. Then, an additional two to three years for legislators to come to agreement on the government’s role in funding future loans. After an agreement is reached it should  result in new legislation. At this time, the three proposed ideas under consideration are:
1)Â Â Â Â Â private system - where lenders and investors fund new mortgages, with a limited subsidies for the poor and veterans.
2)     private system – where government is involved during market stress to guarantee home loans.
3)Â Â Â taxpayers would insure securities backed by home loans
Stockton Foreclosure Data Shows Potential Optimistic Trend
January 25, 2011
According to CoreLogic the Stockton foreclosure activity last November was higher than the national foreclosure rate. In addition CoreLogic reported that 1.65% of homes were in an REO status which was an .11% increase over the previous year. Despite this, the overall Stockton numbers looked promising. Foreclosure rates in Stockton decreased 5.03% in November 2010, a .51 % decrease from the same period a year earlier. In addition, the mortgage delinquency rate had dropped to 14.43% down 3.05% from last year. This news could represent an optimistic Central Valley housing trend when one specifically focuses on the decrease in the mortgage delinquency rates. For more information about Central Valley housing trends, feel free to call Pat Holkesvig & Your Home Team at 209.471.6516 or complete our Contact Us form.
Impact of Foreclosure Suspensions on Central Valley Foreclosures
November 19, 2010
According to the CVBT the recent foreclosure suspensions had little impact on the actual sales of foreclosed homes in California. However, the CEO of ForeclosureRadar speculates that the suspensions may lead to future scams claiming to overturn foreclosed properties. Overall foreclosure filings dropped slightly just after the announcement, but began picking up the following week. Despite this limited impact, filings were down but notices of sale were up in San Joaquin county.
Foreclosure Review Expected by January
November 17, 2010
According to Reuters, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve are coordinating their reviews of lenders’ foreclosure policies, procedures and loan documentation. They also report that the major lenders also face state investigations and possible settlements would call for Bank of America Corp, JPMorgan Chase & Co, Wells Fargo and others to contribute money to a fund to assist borrowers who lost their homes to foreclosure. The Financial Stability Oversight Council (FSOC), which is due to meet for the second time on November 23, is also currently being set up to probe the housing foreclosure mess and recommend solutions.
California October Foreclosures are Down
November 12, 2010
RealtyTrac, has reported that 66,475 properties foreclosed in California this October. That is down nearly 12% from September and 22% from last October. However even with the drop in overall reported foreclosures, Modesto and Stockton still remain in the top 5 cities nationwide for foreclosures. Although this downward trend has been consistent over the past many months, it is likely to slow down over the winter which is a traditionally slow time for real estate sales.
Oakdale Vandals and Squatters - Examples of Central Valley Problem
November 5, 2010
Over the last year, the city of Oakdale’s police department has received 164 calls related to disturbances at vacant properties. Many of those calls were to report vandals or squatters but other common violations include trespassing, theft and drug dealing. This problem is not unique to Oakdale, it is prevalent throughout the entire central valley real estate market wherever there are areas of concentrated vacant homes. These can be abandoned homes or halted development tracts. In an effort to help keep the local property values the best they can be it is important to be vigilant about reporting all suspicious activity. Otherwise if left alone, neighborhoods can quickly slip into obvious distress which can turn away potential homebuyers and drive down home prices.
