Buyers

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REO / BANK-OWNED TOUR: LAKE LOS ANGELES, CA – 01/10/2011

by James Malanowski on January 11, 2011 · 0 comments

So I was out previewing homes for a client that is looking for a fixer-upper to buy in the Lake Los Angeles area of the Antelope Valley. I had my video camera with me and though to myself: “Self, you’ve been talking about doing some stuff with video this year and there’s no time like the present!”

So I recorded a video walk-through of some of the REO / Bank-owned houses for sale that I toured and have put them up here for your viewing pleasure. The videos are a bit rough, but the point comes across. I’m going to try to play with this idea some and do some video walk-throughs of other areas here in the Antelope Valley. A day for Palmdale, another for Lancaster, and so on.

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NEARBY HOMES FOR SALE

HOW LOW WILL THE BANK GO ON A SHORT-SALE?

December 13, 2010
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What a short-sale buyer needs to understand is that the bank does not own the home. Just as in a standard sale, you are making an offer to the current owner of the property who needs to sell the home for less than what he owes the bank, usually due to a personal financial hardship. A better term for a short-sale would be a short-pay or short-payoff because the bank is agreeing to be shorted the amount of money that they are owed.

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CA FIRST-TIME BUYER AND NEW-HOME TAX CREDITS STEP IN TO FILL THE VOID

April 21, 2010
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As buyers who have been sitting on the fence or were not able to get an offer accepted in this hot REO market here in the Lancaster / Palmdale area are watching the clock run down on the Federal First-Time Home Buyer tax credit, the State of California has stepped in to fill the gap.

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FANNIEMAE TO CHANGE DEBT-TO-INCOME REQUIREMENTS

October 30, 2009
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Just when you thought it couldn’t get any harder to qualify for a home loan …

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DO REO BUYERS NOW HAVE MORE CONTROL?

October 16, 2009
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The process of buying a bank-owned (REO) property can be stressful on buyers here in the Palmdale / Lancaster area. During a time in which most foreclosure buyers think that they should have all the control – Hey, it’s a Buyer’s Market, right?! – when they actually get into the process of negotiating an offer on the home they’ve decided on they realize that they don’t have as much power as they thought …

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