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Eureka California Home Sales in February 2012

by Dean Kessler

Real estate sales for Eureka California remained consistent as we tumbled into February 2012. The number of homes sold in February was similar to those sold in January. Yet the number of homes that are presently under contract are 150% more than we had in January. March and April will be very busy as we work hard to bring these offers to closings.

Home buying activity is again led by the First-Time homebuyers, with Move-Up home buyers and Investor buyers remaining very active. I have noticed a trend developing with the type of real estate Investors are pursuing. Many entry level homes readily cherished by First-Time homebuyers are now being aggressively pursued by Investor home buyers. Homes for sale in the lower price point are now receiving multiple offers after being on the market for a short time. Case in point, witnessed a home  receive 8 offers after being on the market for 5 days. Majority of those offers from investors flush with cash. 

My counsel to First-Time home buyers, or any home buyer; to compete in this market, you must have a loan pre-approval letter from your lender of choice, period. Loan pre-qualification letters are not up to the task (if you're not sure of the difference, shoot me an email). With a loan pre-approval letter, a homebuyer is more competetive when faced with a multiple offer scenario.

For home sellers there remains great news. We continue below the two year moving average of homes available for sale. For active home sellers, there is less competition for home buyers. And home buyers are out in force with interst rates below 4%. These home buyers have seen the existing inventory and are anxious for new inventory to choose from.

Foreclosure Prevention Team in Humboldt County

by The Dean Kessler Team

 

(Eureka) Regardless of the reasons that are used to explain the current mortgage crisis in the United States, the reality that we are faced with is that more homeowners are in financial distress due to real estate than at any time in the history of real estate.

 

Eureka’s own Dean Kessler of The Kessler Real Estate Team at RMK Realty Inc., has earned the designation of a Certified Distressed Property Expert (CDPE) and is ready to help families in need of his services. “I will help homeowners find the best solution to whatever financial crisis they are facing,” says Dean Kessler. “I am fully informed of the issues and know the detailed processes and procedures for working with and through the banks. There are many options that homeowners can take to prevent a foreclosure. We help our clients identify the options that are best suited for their situation.”

 

Residential real estate has many specialized areas and many agents take specific courses to deepen their understanding of issues and build upon the foundations they learned when acquiring their real estate license. The Distressed Property certification is one of the most important certifications in today’s market; it gives agents a full understanding of the complexities of short sales, pre-foreclosure, and foreclosures.

 

One thing remains the same for the majority of homeowners: the best solution for an individual wanting to sell a property is to seek the guidance, counsel and services of an educated licensed Realtor.

 

Says Dean Kessler, “Sometimes the best solution can be a ‘Short Sale’ – when a negotiation is entered into with the homeowner’s mortgage company or companies to accept less than the full balance of the loan at closing.” This should be one of the last options before foreclosure.

 

Owners in pre-foreclosure should seek out a Certified Distressed Property Expert as soon as possible. The foreclosure procedure timeline in California is only four (4) months from Notice of Default (NOD) until the foreclosure sale.

 

To find out all the benefits and options for preventing foreclosure, contact Dean Kessler, Broker, CDPE. His market includes Eureka, Fortuna, Arcata and McKinleyville. He can be reached at dean@TheKesslerTeam.com or 441-1765.

 

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 CA Department of Real Estate #01313330