Topics of Interest

Short Sale Team Leader

Troy Huerta

Call Michael!

Testimonials

We are so happy with Michael's company. We had purchased a home in Hemet at the height of the market for my mother and myself to live in. But my commute to Anaheim was killing me and if my mother needed anything from me, I would be unable to help her.

Michael and his team we able to short sale our property and now I am planning to buy a home for my mother and I in the next couple of years.

I would really recommend there services to anyone.
Maria Esperanza
Short Seller

Type of Sales that dominate the Temecula Redhawk Area – March 2010

What type of sales dominate the Temecula Redhawk market?

See below

If you need a Real Estate Team that understands the market, give us a call.

Real Estate Insight Team
Keller Williams
Short Sale Experts
951-572-2789
760-689-BANK (2265)

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

Sales Report for Southern Temecula – Redhawk Area Dec 09 to present

3 Bedrooms
AREA BEDS BATHS SQ FT LOT SIZE LISTED SOLD DIFFERENCE DAYS OF MARKET SALES TYPE PROPERTY TYPE
Temecula – South (213) 3 2 1001 6534 $        139,000 $        155,000 $16,000 174 Short Sale Single Family Residence
Temecula – South (213) 3 2 1138 7840 $        169,900 $        176,000 $6,100 49 Bank Owned Single Family Residence
Temecula – South (213) 3 2 1138 7840 $        175,000 $        179,000 $4,000 7 Short Sale Single Family Residence
Temecula – South (213) 3 2 1205 6098 $        165,000 $        180,000 $15,000 237 Short Sale Single Family Residence
Temecula – South (213) 3 2 1234 5662 $        158,400 $        165,000 $6,600 25 Bank Owned Single Family Residence
Temecula – South (213) 3 2 1237 6534 $        210,000 $        215,000 $5,000 27 Single Family Residence
Temecula – South (213) 3 3 1294 6534 $        179,900 $        170,000 ($9,900) 176 Short Sale Single Family Residence
Temecula – South (213) 3 3 1294 5227 $        200,000 $        175,000 ($25,000) 275 Short Sale Single Family Residence
Temecula – South (213) 3 2 1309 6969 $        214,999 $        212,000 ($2,999) 2 Single Family Residence
Temecula – South (213) 3 2 1315 5227 $        180,000 $        185,000 $5,000 9 Bank Owned Single Family Residence
Temecula – South (213) 3 2 1345 6969 $        174,900 $        185,000 $10,100 6 Bank Owned Single Family Residence
Temecula – South (213) 3 3 1345 6969 $        200,000 $        215,000 $15,000 23 Single Family Residence
Temecula – South (213) 3 2 1408 1369 $        159,900 $        160,000 $100 35 Bank Owned Condominium
Temecula – South (213) 3 2 1408 $        140,000 $        140,000 $0 123 Short Sale Condominium
Temecula – South (213) 3 3 1412 5227 $        199,000 $        210,000 $11,000 32 Single Family Residence
Temecula – South (213) 3 2 1442 6969 $        197,500 $        197,500 $0 4 Bank Owned Single Family Residence
Temecula – South (213) 3 3 1559 6969 $        225,000 $        220,000 ($5,000) 26 Standard Single Family Residence
Temecula – South (213) 3 3 1759 6969 $        230,000 $        230,000 $0 54 Short Sale Single Family Residence
Temecula – South (213) 3 3 1783 10018 $        199,900 $        200,000 $100 134 Short Sale Single Family Residence
Temecula – South (213) 3 3 1916 9583 $        270,000 $        255,000 ($15,000) 7 Bank Owned Single Family Residence
Temecula – South (213) 3 3 1948 6969 $        235,000 $        248,000 $13,000 6 Bank Owned Single Family Residence
Temecula – South (213) 3 3 2009 4508 $        239,500 $        235,000 ($4,500) 48 Bank Owned Single Family Residence
Temecula – South (213) 3 3 2023 7405 $        179,000 $        199,000 $20,000 346 Short Sale Single Family Residence
Temecula – South (213) 3 2 2076 6534 $        245,000 $        266,000 $21,000 9 Bank Owned Single Family Residence
Temecula – South (213) 3 3 2180 3484 $        215,000 $        235,000 $20,000 64 Bank Owned Single Family Residence
Temecula – South (213) 3 3 2262 7405 $        259,900 $        260,000 $100 39 Single Family Residence
Temecula – South (213) 3 3 2316 3484 $        218,000 $        223,000 $5,000 5 Bank Owned Single Family Residence
Temecula – South (213) 3 3 2342 5227 $        300,000 $        300,000 $0 6 Single Family Residence
Temecula – South (213) 3 3 2383 7840 $        310,000 $        315,000 $5,000 31 Single Family Residence
Temecula – South (213) 3 3 2694 7840 $        235,000 $        250,000 $15,000 121 Short Sale Single Family Residence
Temecula – South (213) 3 3 2774 8276 $        299,900 $        300,000 $100 191 Short Sale Single Family Residence
Temecula – South (213) 3 4 3650 7840 $        357,000 $        350,000 ($7,000) 50 Bank Owned Single Family Residence
4 Bedrooms
AREA BEDS BATHS SQ FT LOT SIZE LISTED SOLD DIFFERENCE DAYS OF MARKET SALES TYPE PROPERTY TYPE
Temecula – South (213) 4 2 1364 6534 $        169,000 $        190,000 $21,000 63 Single Family Residence
Temecula – South (213) 4 2 1520 10890 $        225,000 $        230,000 $5,000 7 Single Family Residence
Temecula – South (213) 4 2 1698 5227 $        204,900 $        201,000 ($3,900) 27 Bank Owned Single Family Residence
Temecula – South (213) 4 3 1748 6969 $        204,900 $        200,000 ($4,900) 89 Bank Owned Single Family Residence
Temecula – South (213) 4 3 1867 4791 $        229,000 $        245,000 $16,000 7 Bank Owned Single Family Residence
Temecula – South (213) 4 3 1948 6969 $        208,000 $        205,000 ($3,000) 1 Bank Owned Single Family Residence
Temecula – South (213) 4 2 2076 8276 $        240,000 $        241,000 $1,000 28 Short Sale Single Family Residence
Temecula – South (213) 4 4 2118 6969 $        292,000 $        292,000 $0 23 Bank Owned Single Family Residence
Temecula – South (213) 4 3 2212 6969 $        229,900 $        220,000 ($9,900) 60 Short Sale Single Family Residence
Temecula – South (213) 4 3 2232 7840 $        285,000 $        300,000 $15,000 24 Single Family Residence
Temecula – South (213) 4 3 2380 14374 $        260,000 $        255,000 ($5,000) 62 Notice of Default Single Family Residence
Temecula – South (213) 4 3 2383 8712 $        349,000 $        325,000 ($24,000) 138 Short Sale Single Family Residence
Temecula – South (213) 4 3 2494 10890 $        329,000 $        329,000 $0 195 Short Sale Single Family Residence
Temecula – South (213) 4 3 2574 5662 $        249,000 $        255,000 $6,000 7 Short Sale Single Family Residence
Temecula – South (213) 4 3 2581 5662 $        329,900 $        330,000 $100 64 Single Family Residence
Temecula – South (213) 4 3 2648 6534 $        289,000 $        300,000 $11,000 11 Single Family Residence
Temecula – South (213) 4 3 2665 8712 $        289,900 $        290,000 $100 13 Bank Owned Single Family Residence
Temecula – South (213) 4 3 2665 4791 $        309,900 $        309,900 $0 65 Short Sale Single Family Residence
Temecula – South (213) 4 3 2665 4791 $        320,999 $        320,999 $0 101 Single Family Residence
Temecula – South (213) 4 3 2693 7840 $        348,900 $        350,000 $1,100 4 Single Family Residence
Temecula – South (213) 4 3 2814 6098 $        303,000 $        303,000 $0 44 Bank Owned Single Family Residence
Temecula – South (213) 4 3 2916 8276 $        380,000 $        365,000 ($15,000) 44 Single Family Residence
Temecula – South (213) 4 4 2976 6534 $        339,950 $        340,000 $50 22 Single Family Residence
Temecula – South (213) 4 3 3113 15246 $        300,000 $        304,000 $4,000 198 Short Sale Single Family Residence
Temecula – South (213) 4 4 3263 6969 $        329,000 $        325,000 ($4,000) 43 Bank Owned Single Family Residence
Temecula – South (213) 4 3 3404 8276 $        345,000 $        360,000 $15,000 41 Short Sale Single Family Residence
Temecula – South (213) 4 3 3614 6534 $        356,400 $        375,000 $18,600 58 Bank Owned Single Family Residence
5 Bedrooms
AREA BEDS BATHS SQ FT LOT SIZE LISTED SOLD DIFFERENCE DAYS OF MARKET SALES TYPE PROPERTY TYPE
Temecula – South (213) 5 3 2574 5663 $        259,900 $        250,000 ($9,900) 133 Short Sale Single Family Residence
Temecula – South (213) 5 3 2648 8712 $        350,000 $        270,000 ($80,000) 1 Short Sale Single Family Residence
Temecula – South (213) 5 3 2726 10890 $        315,000 $        315,000 $0 80 Short Sale Single Family Residence
Temecula – South (213) 5 3 3086 6969 $        365,000 $        371,000 $6,000 6 Single Family Residence
Temecula – South (213) 5 3 3106 12632 $        310,000 $        350,000 $40,000 7 Bank Owned Single Family Residence
Temecula – South (213) 5 5 3248 10019 $        325,000 $        350,000 $25,000 141 Short Sale Single Family Residence
Temecula – South (213) 5 4 3273 8712 $        318,000 $        312,000 ($6,000) 65 Bank Owned Single Family Residence
Temecula – South (213) 5 3 3342 7405 $        389,900 $        389,000 ($900) 17 Single Family Residence
Temecula – South (213) 5 4 3433 6534 $        412,000 $        405,000 ($7,000) 21 Standard Single Family Residence
Temecula – South (213) 5 4 3522 6098 $        419,000 $        418,750 ($250) 82 Single Family Residence
Temecula – South (213) 5 4 3522 6534 $        470,000 $        447,500 ($22,500) 7 Single Family Residence
Temecula – South (213) 5 3 3708 9147 $        399,000 $        415,000 $16,000 44 Short Sale Single Family Residence
Temecula – South (213) 5 5 3755 7405 $        388,000 $        388,000 $0 3 Bank Owned Single Family Residence
Temecula – South (213) 5 5 3755 6534 $        375,000 $        390,000 $15,000 6 Standard Single Family Residence
Temecula – South (213) 5 4 4078 6969 $        425,000 $        425,000 $0 86 Short Sale Single Family Residence
Temecula – South (213) 5 4 4115 5227 $        325,000 $        338,000 $13,000 145 Short Sale Single Family Residence
Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

Learn About Tax Credit for Homeowners

Visit houselogic.com for more articles like this.

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

BREAKING NEWS REGARDING FHA

FHA puts rumors to sleep about the increase in down payment requirements

According to the guys at the TBWS Daily, the National Association of Mortgage Brokers conferance put to sleep the rumor that FHA down payment requirements were going to climb from 3.5% to 5%.

We will update you as soon as the official statement is released.

If you or someone you know is in danger of losing your home to foreclosure, call us!

760-689-BANK (2265) state your name and your situation and our team of specialist will call you for a free consulation.

http://shortsalemc.com/

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

NEW SHORT SALE APPROVAL - CHASE

Approved Short Sale for February 2010

We just got an approval for a short sale in Bellflower – FHA Buyer ready to close in 7 days!

Great job team!

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

US banks turn to short sale strategy

by Michael-Edward Cruz – California Real Estate Broker 951-572-2789

I found a promising article detailing how some lenders are beginning to shift their focus from foreclosure to short sales. Unfortunately I could not link to it on my blog due to copyright laws.

Some Lenders are now considering short sales as a real solution. AFTER the mass foreclosures in 2007 – 2008, AFTER the disaster in modifications in 2009, they might finally be listening to us.

I can’t really complain though.  Before I worked for this team lead by Troy Huerta, 2 out 3 of my deals foreclosed!  I was a typical agent throwing darts in the dark and having the closing figures to show for it.  My success rate was less than 33%.  Since teaming up with Troy, my success rate is an admirable 100%, so far.  This year alone our team has already closed 20 transactions!!!

A big part of my difficulty stemmed from my lack of planning to deal with lenders rather than the lenders not actually listening.  Lenders will always find ways to make more and more money no matter what.  Otherwise, how will their CEO’s be able to remodel their offices for less than $2 million?  When dealing with our pre-foreclosure transactions, we focus our job on showing them that a short sale is better than a foreclosure.  Most of the time a short sale is better, unfortunately it is not always easy to get the lender to understand. That is why I have teamed up with Troy Huerta from the Real Estate Insight Team at Keller Williams.

Troy Huerta has been featured by Smart Money magazine (a Wall Street Journal

publication) as a Power Broker. The impressive part of Mr. Huerta’s success is his fundamental understanding of the short sale process and his ability to turn nearly every transaction into a win-win-win situation for lenders, sellers, agents (and buyers).  Armed with a strong lending background, Troy foresaw the market turn and did everything he could (including purchasing a local and well-established real estate office) to position himself one step ahead of the rest.  The first year (June 2007 – June 2008) he had successfully closed 50+ short sales at a time when offices were folding like houses of cards and agents were being driven from their once thriving (and easy paced) careers.  His understanding of how lenders work has made him the “go to guy” on short sale transactions. He has held DRE credit courses on short sales and currently designates certificate courses for agents looking to break into this market. His success has been truly amazing. He has a great team that I am lucky to be a part of.

After my first experience as an REO agent, I knew that this was not the answer for me in this market.  The whole experience was not worth the money I made when the sale was finalized. I went into this business to help people realize their dreams of homeownership, not contribute to the nightmare of foreclosure.

I am happy with my choice to be persistent and find a way to become successful with the short sales. Most agents ran from this (sooner or later). Most of the agents I have talked to have said “It’s too much work”, ” I hate dealing with lenders” and my favorite, “they take forever to close”. I agree that they should not work on short sales.  You have to love it and “get it” like we do.  A comprehensive list of negotiators you’ve closed with in the past doesn’t hurt either.

While our primary focus is on listings and homeowner assistance, we offer professional negotiation services to agents who can’t or don’t want to handle the negotiation portion of their transactions.  Our system of short sale closings enable us to continue our success as things get “easier”.

WITH LENDERS WORKING WITH US + OUR SUCCESS WHEN THEY WERE NOT = THE ABILITY TO HELP AS MANY PEOPLE AS POSSIBLE IN 2010

Are you late on your mortgage?  Do you have an NOD and are in danger of foreclosure?  Do you know someone who is struggling to make ends meet?  Is the loan modification game getting you tired and at greater risk of foreclosure?  CALL THE NUMBERS BELOW, LEAVE A MESSAGE WITH YOUR SITUATION AND A SPECIALIST WILL CALL YOU TO DISCUSS YOUR OPTIONS

North San Diego County – 760-420-5498 – http://lenderhelpinc.com

South Orange County – 949-630-9743 – http://shortsalemc.com

South Riverside County – 951-BANK-GIRL – http://livinginharveston.com

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

Fed up homeowner fights back!

from pablos77 at msn.com forum
They posted the following
” I started to get a mod from Citi in March of 09. The first two slimes told me that if I was current on the payments they wouldn’t work with me. I couldn’t believe they would tell me that so after the first one I recorded all my calls. The second time I talked to the 2nd slime that I had originally talked to she said she would NEVER  have told me not to stop my payments and the best way to avoid foreclosure was to get caught up on my payments - two months late due to their advice. Same voice- same slimeball- lying through her slimy teeth.  The next episode after trying for two months to get someone to follow through on the fact that they said they were going to modify the loan in two weeks ( two months ago starting in March) was the Obama HAM trial payment plan that we were “qualified” for due to lack of employment, interest only loan, and the house being upside down to the tune of about $150,000. All we had to due was make the three “trial” payments of the new amount and at the end of three months they would change the payment to the same amount. Three months later after making the payments on time with cashiers checks– I saved all the copies, the mail receipts, the signature pages from the slimy reps that got the checks- all well before the due dates. After the three months payments were all sent in the slime ball Citi mortgage told me that they couldn’t change the loan to the “trail” payment amount cause the “investor” wasn’t participating in the Obama HAM program. When I asked them why they didn’t know that prior to “qualifying” me for the loan and taking my money they hemmed and hawed and said they didn’t know. What they didn’t know that I  knew was that THEY ARE THE INVESTOR. Pretty funny huh? After hiring a lawyer and threatening them with a lawsuit for illegal fair trade violations, fraud, and a few other items and letting them hear some of the tapes ( I have about 20 hours of lies, diversions, and flimflam crap), they modified the loan to be $160 less per month after I agreed to not sue them and to never use the evidence against them on a special form I think they made just for me. They added fees, interest, and other misc. who knows what onto our loan to the tune of $35,000.00. So bottom line- to save a total of $4000.00 over 5 years it is gonna cost us $31,000.00 added to our principal. LOL. Can you believe this ? The real problem of course is that the same bank- Citi- that originally appraised the house and gave us the mortgage now won’t refinance it because we were late with the payments (that they said to be late with and ruined our 700 credit scores) , and the house is upside down so they wouldn’t do it even if our credit scores were in the good range. Screw them. We are gonna live in the house as long as possible without paying for it. I’ve already found several sellers with really nice houses that are willing to carry us at 5.5 – 6.0 % for at least 8 years ( time to get our credit scores straightened out- like that really makes a difference)  and get this all behind us with a payment that is a third of our old one and granted the house isn’t quite the same, but I’m sleeping at night and we have a nice new place to live that is very affordable. So I hope somebody else recorded all their calls with the bank and if so, I still have mine and would be happy to pass them on to anyone that might be interested in exposing the rat **** for the slime that they are and the scam they have pulled on the American taxpayers.”
_____________________________________________________________________
Pretty frustrating experiences, instead of letting the home go into foreclosure they should have gone the short sale route though. Still this is pretty much the feeling out there in many households looking avoid being victims of these very powerful institutions.

If you or someone you know are having difficulty paying for you home call us

Troy Huerta (Short Sale Team Leader for California)
Michael-Edward (Short Sale Specialist)

951-572-2789 South Riverside County – Temecula Redhawk – Home Office
949-630-9743 South Orange County Office
760-420-5498 North San Diego County – Troy Huerta – Team Leader

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

Mortgage Modification Hell

I have personally helped many people modify their home loan. But with so many predators out there the State of California made it illegal to charge for these services. Still when people try and do this on there own it takes a toll on them.

Their is no way to guarantee anyone that a modification will work. We simply showed people our results. Ironically many people we helped eventually realized that modifications didn’t really help them in the long run.  Many people later decided to short sale. I have two like this right now. Another thing they don’t tell you is that you will miss out on many incentives and tax breaks to short sale now.

As well you can in some cases get a home loan a day after you short sale your property.  So to me modifications suck !!! still here is an interesting article I found on what is accurately headlined as

MORTGAGE MODIFICATION HELL

If you or someone you know are having difficulty paying for you home call us

Troy Huerta (Short Sale Team Leader for California)

Michael-Edward (Short Sale Specialist)

951-572-2789 South Riverside County – Temecula Redhawk – Home Office
949-630-9743 South Orange County Office
760-420-5498 North San Diego County – Troy Huerta – Team Leader

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

Banks have declared war -- on you

I personally do not use credit cards any longer. I would rather deal with the mob when borrowing money. At least they kiss you before they _ _ _ _ you.

Here is an interesting article I found that illustrates the banks creative way to boost profits, even with Government intervention.

Like I keep telling people, all this would stop if we as consumers would just stop using their services. Remember they are not forcing you to use them.  I will say that next time they come looking for a bail out say HELL NO! They can afford it!

CREDIT CARDS AND THE LOVELY BONUSES FOR THE CONSUMER

If you or someone you know are having difficulty paying for you home call us

Troy Huerta (Short Sale Team Leader for California)

Michael-Edward (Short Sale Specialist)

951-572-2789 South Riverside County – Temecula Redhawk – Home Office
949-630-9743 South Orange County Office
760-420-5498 North San Diego County – Troy Huerta – Team Leader

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter

BANK OF AMERICA FORECLOSES ON THE WRONG HOUSE!! AGAIN!!

With Banks coming out on top with the bail out money, making BILLIONS on ridiculous overdraft fees that hurt those weakest to fight back and being able to make a double profit on foreclosure by buying other banks bad debt cheaper then getting government money……

You would think that they would at least stick to foreclosing on homes they owned.

The story below shows the power and arrogance that is Bank of America.

BANK OF AMERICA – THE NEW EVIL EMPIRE

If you or someone you know is in danger of losing your home to foreclosure, don’t deal with them on your own. Get expert help, call us today.

Michael-Edward Cruz
Short Sale Specialist
951-572-2789

Troy Huerta
Team Leader
760-420-5498

Share and Enjoy:
  • Print
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • Blogplay
  • Diigo
  • LinkedIn
  • Live
  • Ping.fm
  • Posterous
  • RSS
  • Yahoo! Bookmarks
  • Yahoo! Buzz
  • Reddit
  • Twitter