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SF East Bay Real Estate Update for Alamo and Danville

 

 

 

 

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Escape Your Unmanageable Mortgage: Getting free doesn’t have to mean running away.

Perhaps you have heard about it.

 

On the news, a reporter tells a story about how the housing crisis has caused some homeowners to simply walk away from their homes. It sounds crazy, but many people are being led to believe that walking away from their home is a good (or even the best!) option.

 

It is called Strategic Default. For distressed homeowners who believe that they have no good choices left, the idea of walking away free of consequence may sound like a relief. The reality, however, is that choosing strategic default has serious repercussions on your credit.

 

THERE ARE BETTER OPTIONS AVAILABLE!

 

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to escape from unmanageable mortgages without running away.  

 

Facing your problems head-on is always the best solution. Let me help.

 

Greg McDaniel

925-838-4300

team@mcdanielcallahan.com

 

Foreclosure Activity Declines Hurting Investors
 

April 2012 Foreclosure Starts declined across our coverage area wiping out the small gains in new foreclosure filings last month. In California, Notice of Default filings are down 69.8 percent from the peak in March 2009, and 15.8 percent from April 2011. Notice of Trustee Sale Filings, the start of Arizona's foreclosure process, are down 59.4 percent from the peak in March 2009, and down 8.0 percent year-over-year.

Foreclosure Sales also declined, however, foreclosure investors purchased a record percentage of the limited inventory that was actually sold. Nevada investors purchased more than 50 percent of foreclosure sales for the first time at 50.7 percent. Arizona followed with 44.6 percent and California at 41.3 percent. The low number of sales, combined with record percent purchased on the courthouse steps left very little to become Bank Owned (REO). This further depletes the inventory of Bank Owned homes as REO sales continue to outpace the addition of new inventory.

Despite investors purchasing a higher percentage of foreclosure sales, margins have rapidly declined in recent months. In both Arizona and Nevada winning bids on the courthouse steps on average equal the current estimated value of those properties. In California the discount between market value and winning bid have on average declined to 12.3 percent. This leaves investors who intend to resell their purchases with record low profits after eviction, repairs, and closing costs.

 

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Featured picture for the property 40574743
Foreclosure
912 APPIAN KNOLL CT
EL SOBRANTE, CA 94803
$162,500
2 beds/3 baths
Listing courtesy of VICTOR CAMPBELL
WINDERMERE ROWLAND REALTY EASTBAY
Featured picture for the property 40574616
Foreclosure
136 BEDFORD
HERCULES, CA 94547
$264,600
2 beds/2 baths
Listing courtesy of MAUREEN CONNOR
EQUITY CAPITAL REAL ESTATE EASTBAY
Featured picture for the property 40574617
Foreclosure
169 IRIS RD
HERCULES, CA 94547
$342,300
4 beds/3 baths
Listing courtesy of Glenn Allen
RE/MAX C.C. Connection EASTBAY
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Featured picture for the property 40537178
Short Sale
1909 WANLASS AVE
SAN PABLO, CA 94806
$120,000
3 beds/1 baths
Listing courtesy of ROLANDA WILSON
SOUND INVESTMENTS EASTBAY
Featured picture for the property 40538626
Short Sale
PINOLE, CA 94564
$210,000
3 beds/3 baths
Listing courtesy of Jose Gonzalez
Matrixone Realty EASTBAY
Featured picture for the property 40545639
767 SUNNYVIEW DR
PINOLE, CA 94564
$239,000
4 beds/2 baths
Listing courtesy of OLANDO GRAVES
BHG MASON MCDUFFIE REAL ESTATE EASTBAY

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EASTBAY
Bay East © 2012. CCAR © 2012. EBRDI © 2012. Information deemed reliable but not guaranteed. This information is being provided by the Bay East MLS or the CCAR MLS or the EBRDI MLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: May 19, 2012 7:26:am.