GOOD NEWS…THE ANSWER IS YES!

  This is such an important question to ask yourself if you are going through a Short Sale.
So many people feel that they will never recover from this type of hardship.  Not to worry, there is hope!

FHA Guideline:

• If the borrower/homeowner has a short sale and they are current on their payments prior to the short sale then they are still eligible for FHA financing subject to underwriter discretion.
• If they are in default at the time of the short sale, then they must wait 3 years, exceptions can be made for extenuating circumstances.  These only apply to FHA and VA loans, when it comes to the rules for an exception.  Extenuationg circumstances are nonrecurring events that are beyond the borrowers control that resutl in a sudden, significant, and prolonged reduction in inclome or a catastrophic increase in financial obligations.
• After 3 yrs: Max LTV 96.5%

Conventional:

•  If the borrower / homeowner had a short sale they must wait a minimum of 2 years to repurchase
• After 2 years: max LTV 80%
• After 4 years: max LTV 90%
• After 7 years: max LTV is based on product

VA

• If the borrower / homeowner had a short sale they must wait a minimum of 2 years to repurchase
• After 3 years: max LTV 100% upon VA eligibility

If you or any one you know is in need of more information regarding Short Sales, please contact us right away.  We are certified SFR, Short Sale Foreclosure Resource and have had 100% success helping our clients navigate through the short sale process.  We can help you too.

Pam Parton & Joanna Woolley
760-580-1615 or 760-580-1630

Why Real Estate is still AMERICA’S BEST INVESTMENT

The latest headlines tell us the economy fluctuates from recovery to ruin on a weekly basis. In reality, real estate is cyclical, and the market is on its way to recovery in most areas. Although you may feel nervous about home ownership, property is still your best long – term investment.

In more than two thirds of the country, housing affordability has dipped to pre-housing bubble levels, creating opportunities for those looking for a bargain. Home prices are expected to rise in 2013 due to fewer distressed sales and the impending housing shortage.

Mortgage rates have decreased over the last fifty years to record lows. Due to the economic downturn,borrowers with stellar credit and a solid employment history are best able to secure financing right now. However, as conditions improve, the market will expand for borrowers who may not fit the mold of traditonal lending standards, such as the self employed.

A major advantage of homeownership is building equity. The average seller who purchased a home in 2002 gained 24% in equity, while those who purchased their homes 11 to 15 years ago had a median gain of 40%.

So in spite of all the negative news the press is brain washing us with IT IS STILL A GREAT TIME TO BUY A HOME!

For more information on great HOME  DEALS available in North County San Diego give us a call as  we would love to share this information with you.

PAM PARTON:  760-580-1630                             JOANNA WOOLLEY: 760-580-1615

Content courtesy of

Brian Buffini, Wall Street Jouranl and National Association of Realtors.

Great News For Home Owners Who Need To Sell Short

SB 458 Short Sale Law Effective Immediately in California

No Fee to Approve Short Sales and Short Sale Law Now Applies to Junior Loans

Governor Brown has signed Senate Bill 458 (Corbett) expanding anti-deficiency protection to all 1-4 residential mortgages or deeds of trust where the beneficiary consents to a short sale, whether a first deed of trust or a junior deed of trust. As an urgency bill, it became effective on July 15 when it was chaptered into law. The new law also limits the short sale anti-deficiency protections by excluding sales where the trustor is a limited partnership or LLC. Existing short sale law enacted in 2010 already excluded corporations.

The new law expands on short sale anti-deficiency legislation passed last year. Senate Bill 931 (Ducheny) was enacted last year in response to concerns that borrowers could have greater liability after a short sale than after a foreclosure. SB 931 prohibited a lender from obtaining a deficiency judgment as to a first mortgage or deed of trust following a short sale. Since SB 931 only applied to first mortgages, homeowners with more than one mortgage could still be liable to a junior noteholder after the short sale. The new law addresses that issue.

For more details, you can visit the California State Senate website at http://senate.ca.gov

 The people of the State of California do enact as follows:

SECTION 1. Section 580e of the Code of Civil Procedure is amended to read:

580e. (a) (1) No deficiency shall be owed or collected, and no deficiency judgment shall be requested or rendered for any deficiency upon a note secured solely by a deed of trust or mortgage for a dwelling of not more than four units, in any case in which the trustor or mortgagor sells the dwelling for a sale price less than the remaining amount of the indebtedness outstanding at the time of sale, in accordance with the written consent of the holder of the deed of trust or mortgage, provided that both of the following have occurred:

(A) Title has been voluntarily transferred to a buyer by grant deed or by other document of conveyance that has been recorded in the county where all or part of the real property is located.

(B) The proceeds of the sale have been tendered to the mortgagee, beneficiary, or the agent of the mortgagee or beneficiary, in accordance with the parties’ agreement.

(2) In circumstances not described in paragraph (1), when a note is not secured solely by a deed of trust or mortgage for a dwelling of not more than four units, no judgment shall be rendered for any deficiency upon a note secured by a deed of trust or mortgage for a dwelling of not more than four units, if the trustor or mortgagor sells the dwelling for a sale price less than the remaining amount of the indebtedness outstanding at the time of sale, in accordance with the written consent of the holder of the deed of trust or mortgage. Following the sale, in accordance with the holder’s written consent, the voluntary transfer of title to a buyer by grant deed or by other document of conveyance recorded in the county where all or part of the real property is located, and the tender to the mortgagee, beneficiary, or the agent of the mortgagee or beneficiary of the sale proceeds, as agreed, the rights, remedies, and obligations of any holder, beneficiary, mortgagee, trustor, mortgagor, obligor, obligee, or guarantor of the note, deed of trust, or mortgage, and with respect to any other property that secures the note, shall be treated and determined as if the dwelling had been sold through foreclosure under a power of sale contained in the deed of trust or mortgage for a price equal to the sale proceeds received by the holder, in the manner contemplated by Section 580d.

(b) A holder of a note shall not require the trustor, mortgagor, or maker of the note to pay any additional compensation, aside from the proceeds of the sale, in exchange for the written consent to the sale.

(c) If the trustor or mortgagor commits either fraud with respect to the sale of, or waste with respect to, the real property that secures the deed of trust or mortgage, this section shall not limit the ability of the holder of the deed of trust or mortgage to seek damages and use existing rights and remedies against the trustor or mortgagor or any third party for fraud or waste.

(d) (1) This section shall not apply if the trustor or mortgagor is a corporation, limited liability company, limited partnership, or political subdivision of the state.

(2) This section shall not apply to any deed of trust, mortgage, or other lien given to secure the payment of bonds or other evidence of indebtedness authorized, or permitted to be issued, by the Commissioner of Corporations, or that is made by a public utility subject to the Public Utilities Act (Part 1 (commencing with Section 201) of Division 1 of the Public Utilities Code).

(e) Any purported waiver of subdivision (a) or (b) shall be void and against public policy.

SEC. 2. This act is an urgency statute necessary for the immediate preservation of the public peace, health, or safety within the meaning of Article IV of the Constitution and shall go into immediate effect. The facts constituting the necessity are:

In order to mitigate the impact of the ongoing foreclosure crisis and to encourage the approval of short sales as an alternative to foreclosure, it is necessary that this act take effect immediately.

If you, or someone you know has been considering the short sale of a property they own, contact us right away to discuss the options that are available. 

We are your certified, Short Sale Foreclosure Resource, we are here to help!

Pam Parton & Joanna Woolley
760-580-1615 or 760-580-1630

Article courtesy of Brian Olenik, Corenthian Title

Gorgeous Custom Valley Center Home

28453 ALMONA WAY, VALLEY CENTER, CA 92082

This gorgeous estate offers the highest quality of upgrades you could wish for.The breath taking kitchen will bring out the chef in most everyone!With stunning custom cabinetry, granite and solid butcher block counters opening to inviting family rm & wet bar.Walnut and Versialles Travertine flooring throughout.Spacious Master Retreat with private balcony for a special romantic evening. This unique property is one not to be missed, it has everything you could ever wish for in a home – truly a work of art.

Dream Chefs Kitchen

Pool and Spa Ready for Lounging

Built in the 50’s, this two story home is conveniently located near schools, shops, the beach, and the 75 and 5 freeways. A spacious home with an bright and airy floor plan feel, this home boasts 3 bedrooms and 2 full baths, with hardwood floors. Sliding doors on the first floor lead to the fully-fenced backyard with an inground heated pool and spa with deep blue tile details.

937 Imperial Beach Blvd, CA 91932

Feel Free to Call Pam or Joanna at any time for more information on this great investment property.

Pam Parton   760-580-1615          Joanna Woolley 760-580-1630

WHY THIS RANCHO BERNARDO HOME, CA LOCATED AT 11690 VIA FIRUL  SHOULD BE ON YOUR LIST!

From the moment you walk through the pretty wrought iron gated secluded entry you feel a sense of peace surround you. This gorgeous newly listed Rancho Bernardo Home has everything a home buyer could need and even more.

11690 Via Firul is filled with light throughout the ground level, the new dual sliding glass doors create a sense of open spacious living and showcase the delightful backyard retreat where you can slip away the summer evenings in your own private paradise. 

Guests or extended family can enjoy their own space on the ground level with a self contained bedroom and bathroom. 3 Spacious Bedrooms on 2nd level.

Beautifully maintained in every aspect, every home buyer should take a moment to view this home they will adore. Close to highly rated award winning schools.

Enjoy the Fabulous Bernardo Community Heights with pool, spa tennis courts, game room and exercise facility.

2309 SQ ft      4 Bedrooms   3 Bathrooms  Quiet Cul de Sac location. Priced at $665,000

For more information on this Beautiful Home please call Pam or Joanna.

PAM PARTON 760-580-1615         JOANNA 760-580-1630

Valley Center Home Owners here are some tips to help you sell your home!

Here are a few tips for you home sellers out there:
 1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of any trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments.

Content courtesy of Realtor. com

IF YOU ARE THINKING OF SELLING YOUR HOME CALL PAM AND JOANNA TO FIND OUT WHAT WE WILL DO TO SELL YOUR HOME.

Pam Parton:  760-580-1615            Joanna Woolley: 760-580-1630

VALLEY CENTER HOME SELLERS CHECK OUT THIS LIST ON WHY YOU SHOULD LIST YOUR HOME DURING THE HOLIDAYS:

For all of you Valley Center Homeowners out there who are considering putting your home on the market, read on for 11 Great reasons to list your home during the holidays, or why you should keep your home on the market if it is already listed.

• Home buyers who look for a home during the Holidays are more serious home buyers!
• Serious buyers have fewer homes to choose from during the holidays and less competition means more money for you!
• Since the supply of listings will dramatically increase in January, there will be less demand for your particular home. Less demand means less money for you.
• Homes show better when decorated for the holidays!
• Home buyers are more emotional during the Holidays, so they are more likely to pay YOUR price!
• Home buyers have more time to look for a home during the holidays than they do during a working week!
• Some home buyers must buy before the end of the year for tax reasons!
• January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, your home must be on the market now to capture the market.
• Your home can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
• By selling your home now, you may have an opportunity to be a non-contingent home buyer during the Spring, when many more homes are on the market for less money! This will allow you to sell at a higher price and buy at a lower price.
• You can sell your home now for more money and we will provide for a delayed closing or extended occupancy until early next year.

CALL PAM OR JOANNA TODAY FOR A COMPARATIVE MARKET ANALYSIS ON YOUR HOME AND A SPECIALIZED MARKETING PLAN ON WHAT WE WILL DO TO SELL YOUR HOME!

PAM PARTON: 760-580-1615                   JOANNA WOOLLEY: 760-580-1630

 IN THIS UNCERTAIN ECONOMIC CLIMATE

 most of us know someone who has experienced some kind of difficulty with their home loan.    

     With the recent rise in home foreclosures, foreclosure-related scams have increased significantly. So-called “foreclosure rescue companies” claim they will help save your home, but in reality are out to make a profit – at your expense. So read on for some tips on how to avoid these, and what you should be watching out for if you are a homeowner, or pass these on to another homeowner you know who might benefit from this advice.

WATCH OUT FOR:

• Requests for money up front before providing any service.
• Instructions telling you not to contact your lender, lawyer, housing counselor, family, friends or others.
• Requests for mortgage payments to be made directly to a company or bank account set up by that person, rather than your lender.
• Requirements for payments only in the form of cash, cashiers check or wire transfer.
• Some entity advises you to transfer your property deed or title to his or her company.
• Someone offers to fill out paperwork for you and encourages you to lease your home and buy it back over time.
• Anyone who tells you to do something immediately and without delay. This includes pressuring you into signing paperwork that you have not had the time to read thoroughly or do not fully understand.
• Offers to buy your home for a fixed price that is not set by the housing market at the time of sale.
• Requests for signatures on documents where lines have been left blank.
• Requests for signatures on a grant deed or deed of trust.

If you or some other homeowner has been the victim of a foreclosure-related scam or approached by someone you think might be scam artist, you may report the incident.

Call Pam or Joanna for further information on who you might contact or to get further advice on any foreclosure related scams. We are here to assist you in any way we can with the sale of your home. Our goal is to help you avoid any unnecessary stress and accomplish the sale of your home in a timely and efficient manner.

Pam Parton: 760-580-1615   Joanna Woolley: 760-580-1630  WelcomeHomeSanDiegoCounty.com

San Diego Countys Best Kept Secret, Valley Center

If you are thinking about selling your home and making a move to a different area.  You yearn for more open space, less people and some peace in your life – Valley Center might just be the place for you to buy a home. There are some so many wonderful homes for sale, and the prices are some of the best you will find in San Diego County. Fresh mountain air and stunning views which will knock your socks off are some of the perks of living in this glorious community. Only 35 miles to downtown San Diego make it very accessible to all amenities.

Another reason to move to Valley Center would be the school system offered. Three of the Valley Center schools have been recognised as California Distinguished Schools. VCPUSD students consistently score higher in the State tests than students of San Diego County and the State as a whole. Three of the schools have an API score of over 800. The schools are smaller than average size compared to others in San Diego County and offer a caring and supportive environment for the students.

Valley Center High School is a California Distinguished School, in its 10 year history, has proven its dedication to excellence in the classroom, on the athletic field, and in the performing arts. Its staff offer a professional learning community that is committed to all students achieving at high levels. Offering 10 Advanced placement courses for college credit along with the Maxine theatre, a state of the art performing arts facility located on the High School Campus featuring 577 seats, Steinway Grand Piano and a full theatrical fly.

Valley Center Middle School is dedicated to providing a rich educational environment that offers opportunites for all students to learn. Along with the focus on academic success, VCMS provides many opportunities for student enrichment that include: drama, chorus, computer technology, video production, craft and sewing projects, strings, agriculture, and a wide variety of after school sports.

Valley Center Elementary Schools create a safe, respectful and responsible environment  where students are inspired to achieve their individual potential and are recognized for their efforts.

Valley Center Primary School a distinguished California School, is an early childhood education where children learn and flourish in a caring and supportive environment. A deeply committed staff work collegially to provide a developmentally repsonsive curriculum for all children during their first years of school.

Valley Center Sunset

You will be pleased you have found San Diego Countys Best Kept Secret, Valley Center.

Content courtesy of VCPUSD.

TO VIEW HOMES FOR SALE IN VALLEY CENTER CALL PAM OR JOANNA:

PAM PARTON 760-580-1615                   JOANNA WOOLLEY 760-580-1630