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We know the foreclosure activity picked up. We also know that we have brisk activity when writing offers, many times, at a multiple-offer situation. So it wasn't a shock to see this headline that talked about repossessions in the Bay area soaring. Read the storyIn the Bay Area, mortgage companies recorded 18,516 notices of default, up more ...

Doom and gloom news are always sensationalized. So from time to time, it helps to have a reality check. Kudos to First American Title Company who shares with us the Market Watch newsletter by a dynamo of a woman, Carole Rodoni. Carole is a sought-after speaker (and the much-revered ray of hope for the battered northern California market). We ...

I submitted an offer on a short sale listing last week. I thought it was a strong offer --- full price, 10% down payment, 1% initial deposit, AS IS, standard contingency periods. When I followed up with the listing agent to find out what the seller would like to do --- accept, counter offer or reject --- it appears she bypassed the seller. She ...

As of today, in our local MLS. there are 12,041 active listings of which 2636 are REO (bank-owned) or 22%, and 2852 are short sales or 24%. Siince January 1, 2008, 1151 REOs closed, compared to 102 short sales. Because of the painfully slow process of getting an acceptance, rejection or counteroffer to a short sale offer, I am more inclined to ...

I have searched several sites, blogs, etc. for a concise answer to the question on the effect of a short sale on one's credit score. It was mind-boggling to find so many different answers. And I am just as befuddled. For sure the credit score has to be negatively impacted since banks will surely report late payments. To approve short sales, a ...