Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Bank of America is making changes to its short sale procedures and introducing an improved task flow within the short sale technology module from Equator, BofA’s short sale management platform of choice. The goal: to reduce the timeframe for a short sale decision to less than three weeks. Starting Saturday, April 14, real estate professionals working with BofA will be required to submit five documents for short sales initiated with an offer: Purchase Contract including...

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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator 5 Common Short Sale Myths Remove the short sale from your credit after it’s completed! CA Senate Bill 458 (Now CA Civil Code 580e) No-Recourse Short Sale Bill was passed on July 15th, 2011. It specifically requires all lenders, including Junior Liens and HELOC’s, to forgive the remaining balance after a short sale is completed. This is a major victory for upside down homeowners in CA and can allow short sellers to breathe a sigh of relief by not having to worry about...

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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Orange County CA home selling stays hot with fast buyers climbing over each other at market to find a good deal. This buyer excitement creates lots of competition for foreclosures and popular properties priced at under $750k. Orange County has only 14 days of average market time on foreclosure listings. Only 206 foreclosure listings are now on the market – which is a 67 percent drop in past five months since start of this year. Foreclosure listings are selling at full asking...

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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Short Sale Market Watch Short sales and huge inventories of bank-owned real estate properties continue to put downward pressure on home prices, according to data released today by California-based analytics company CoreLogic. Fifty-seven of the 100 largest statistical areas based on population posted year-over-year declines in March. Nationally, CoreLogic’s March Home Price Index report shows prices fell 33.7 percent in March 2012, from their peak in April 2006. Home...

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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator

Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Orange County Escrows May 2012 The following update on local real estate information is based on Multiple Listing Service data as of Friday. BREA Properties available: 61 Condominiums: 6 Houses: 55 Short Sales and REOs: 18 Average condo price: $333,983 Average house price: $611,393 Average time on the market: 90 days for condominiums; 72 days for houses Available properties by price range: Under $399,999: 10 $400,000 – $699,999: 40 $700,000 – $999,999:...

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