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Hotlist of Homes

by Kristi Machado

Humboldt County Homes on the Market Now! 

I just wanted to make sure you see some of the great homes that have recently come on the market. If you would like to get more information on any of these properties please call (707) 601-5704 or email Kristi@thekesslerteam.com.

ID# 231201 – EUREKA, 2BD/1BA - $289,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231201 

ID# 231199 –FORTUNA, 3BD/2.5BA - $260,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231199 

ID# 231211 – ARCATA, 3BD/2BA - $293,600

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231211

ID# 231206 – EUREKA, 2BD/1BA - $235,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231206 

ID# 231196 – EUREKA, 3BD/1BA - $189,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231196 

ID# 231191 – EUREKA, 4BD/1BA - $245,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231191

ID# 231174 – EUREKA, 4BD/1.5BA - $242,500

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231174

ID# 231179 – HUMBOLDT HILL, 3BD/1BA - $224,900

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231179 

ID# 231167 – ARCATA, 3BD/1BA - $265,000

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231167

ID# 231180 – EUREKA, 3BD/1.25BA - $269,900

http://www.youreurekahomesource.idxco.com/idx/4363/details.php?idxID=283&listingID=231180

EUREKA, CA - Dean recently attended a presentation by California Association of Realtors counsel, Mr SANJAY WAGLE. The presentation covered the legal nuances of home mortgages in default, short sales, foreclosures, auctions, and bank owned properties (REO's). It was clear these types of real estate transactions are not your typical home sale. These transactions have the potential for continued financial distress for our clients if not facilitated properly.

Highlights included discussions about;

a) Recourse and non-recourse loans. Some lenders may still have the ability to pursue the borrower for a deficiency judgement even after a short sale, deed-in-lieu, or foreclosure.

b) State and federal tax liabilities for the distressed home owner on debt that is forgiven, either thru a short sale, deed-in-lieu, or foreclosure.

c) Possession rights for displaced homeowners and tenants for a property sold at auction.

d) The federal government's guidelines to lenders for distressed homeowners to participate in the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternative (HAFA) programs.

WAGLE shared with Dean that he consults with many Realtors from around California on a daily basis about far ranging legal issues surrounding real estate transactions. Yet he went onto state that over 90% of his consultations are providing counsel to Realtors in their execution of a short sale transaction.

WAGLE's visit to Eureka was a valuable opportunity for Realtor's and distressed homeowners. Although not as hard hit as many areas of California it is still important for Eureka, Arcata, Fortuna and McKinleyville area homeowners to benefit from Realtor's informed in the unique aspects of distressed home sales. 

I agree, and that is why I vigorously pursue every opportunity to learn the most up to date information around short sales. A distressed homeowners financial future is an important responsibility.

Dean Kessler Attends CDPE Convention

by The Kessler Team

Local Agent Attends Educational Convention on Short Sales and Foreclosure Avoidance

DEAN KESSLER attended national conference of short sale specialists focusing on the most effective ways to help homeowners avoid foreclosure.

EUREKA, CA – MAY 22, 2010 – DEAN KESSLER of THE KESSLER REAL ESTATE TEAM joined nearly 700 real estate agents at CDPE Momentum 2010, the national convention of professionals with the Certified Distressed Property Expert®designation. Attendees benefited from presentations by leaders from Bank of America, Wells Fargo, Prospect Mortgage, Fidelity National Title and RealtyTrac, who provided industry updates and strategies for helping distressed homeowners.

“I have committed myself to making a difference in the lives of as many distressed homeowners as I can,” KESSLER said. “CDPE Momentum has given me new tools, networks and insight to help even more members of my community.”

The convention provided agents with three-days of intensive interaction among industry professionals, sharing best practices for short sales and other foreclosure avoidance solutions. A short sale occurs when the lender accepts the sale price of a home, even if that amount is less than (“short of”) what is owed on the mortgage. The most recent Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions found that short sales represented 17.9 percent of distressed property transactions.

“Short sales can be a positive solution for homeowners facing financial hardship, with a lesser impact on credit scores than foreclosure,” KESSLER said. “However, these transactions can be difficult, and agents need to have training and stay up-to-date on the industry. Events like CDPE Momentum keep me on top of market developments.”

Agents with the CDPE designation have undergone extensive training in foreclosure-avoidance options for homeowners facing financial hardship, particularly short sales. With more than 22,500 members added since its inception in 2008, CDPE is the fastest-growing designation in real estate industry history.

 

About the CDPE Designation

The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. The CDPE designation has been endorsed by RE/MAX International, Keller Williams Realty and other major U.S. brokerages, as well as industry icons such as: Brian Buffini, founder of Buffini & Company; Howard Brinton, founder of STAR POWER®Systems; Allen Chiang, Chairman of the Asian Real Estate Association of America (AREAA); Tino Diaz, Chairman and President of the National Association of Hispanic Real Estate Professionals (NAHREP); Dave Liniger, chairman and co-founder of RE/MAX; and Joe Stumpf, founder and national spokesperson of By Referral Only®.

For more information about the Distressed Property Institute and the CDPE Designation, visit www.cdpe.com.

June Update

by Dean Kessler

This is my first month’s post “government intervention” report. The 1st time homebuyer $8,000 tax credit expired the end of April. It won’t surprise you to learn the number of homes going under contract dropped by 25% compared to the same time last year. So if our government’s tax credits are gone, how are first time homebuyers still buying homes?

              First time homebuyers are still out in force and making home buying decisions. “Why is this, Dean” you ask? The easy answer are loan interest rates remain below 5% and home prices are very affordable. With this combination, homebuyer mortgage payments rival a rent payment.

The stories of loan money not being available for home buying is simply untrue. Sure, lenders are asking for reams of documents from the buyer, scrutinizing every piece of paper and making the loan approval process maddening with requests for the absurd. How does a PG&E bill reflect on a buyer’s loan qualifications? Don’t know, yet I am glad to hear lenders being much more cautions with their lending practices. For too long it was simply too easy to get loans.

  Call me with questions/comments.

 

HAFA goes to Washington

by Dean Kessler

Just received word that both Fannie Mae and Freddie Mac will begin accepting HAFA short sales. What I'm hearing is this program will go into effect on August 1, 2010.This is great news for Eureka area distressed homeowners. It will allow more flexibility in being able to short sell a property before foreclosure. And the seller is entitled to a $3,000 relocation fee from the lender.

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