Realty World – BLUE | Property Group, Inc.

Elaine King is one of the nicest and helpful people I have the honor of knowing.
Being one of our very own licensed Realtors, Elaine sets a high standard for us all, especially when a homeowner speaks so favorably of her… even when the property Elaine represented ultimately failed to sell.
No fault to Elaine, this short-sale fell through because the lender(s) did not agree on terms.  Elaine’s client were so impressed with her, they were compelled to willingly offer the following letter of praise:
Dear Elaine,
We wanted to take a moment and thank you for all your diligent efforts in our recent attempt to short sale…
Although we were unable to come to an agreement with the lenders, it was not due to a lack of hard work and effort on your part. You certainly went above and beyond any duty to assist us, especially considering the tasks you completed on our behalf since we were out of state.
You are a true professional and we both wish you all the best luck in your future endeavors. Anyone who works with you will find it a true pleasure.
Thanks again,
Cecile E., Brenda C.
We are so happy that our Realtors foster such strong, lasting relationships with our clients.  Keep up the good work!
http://www.elainekingsellshomes.com

Hello, Here is a video you might like to watch: http://www.youtube.com/watch?v=RokNiVbeZIc I can’t wait to see it,  I mean, I can’t wait for it to come out.  I want one!!!!!  Don’t you? That’s it for now! Remember to come back tomorrow for more! Your #1 Realtor® Sharing a great video with you! Virginia R. Hoato [...]

Hello, Here is the new real estate overview as per Trulia: Livermore Summary Average price per square foot for Livermore CA was $231, a decrease of 2.1% compared to the same period last year. The median sales price for homes in Livermore CA for Jan 10 to Mar 10 was $378,100 based on 243 home [...]

Hello, Here is the new real estate overview as per Trulia: Livermore Summary Average price per square foot for Livermore CA was $231, a decrease of 2.1% compared to the same period last year. The median sales price for homes in Livermore CA for Jan 10 to Mar 10 was $378,100 based on 217 home [...]

Hello, Here is the new real estate overview as per Trulia: Livermore Summary Average price per square foot for Livermore CA was $235, a decrease of 2.9% compared to the same period last year. The median sales price for homes in Livermore CA for Dec 09 to Feb 10 was $375,000 based on 347 home [...]

Hello, This one is short and simple!! If you are ready to buy a house but you don’t know who to call. If you are willing to by a house  and you need guidance. And if you are able to buy a house because you have been pre-approved, then you just have one more thing [...]

Hello, It is time to mark your calendars.  Tuesday April the 27th, 2010 @ 5:30 PM Lathrop High will be presenting:  “Evening of the Arts”. There will be art viewing, drama, choir and band.  Student’s art work from Intro and Advance Art and Intro and Advanced Digital Photo will be displayed in the cafeteria and [...]

Hello, If you were waiting for a new incentive that would motivate you to start looking for your first house this should do it: New California Home Buyer Tax Credit! If you didn’t know more than likely, soon,  there will be a tax credit of 5% of the purchase price not to exceed $10,000  for [...]

Hello, I hope you all had a great weekend! Here is a true story: Two weeks ago we went to Costco in Tracy and a very nice lady was giving the flue shots for $10 dollars without insurance and no charge if the person was insured.  My partner didn’t even hesitate and got it done.  [...]

Hello, Here is the new real estate overview as per Trulia: Livermore Summary Average price per square foot for Livermore CA was $235, a decrease of 2.9% compared to the same period last year. The median sales price for homes in Livermore CA for Dec 09 to Feb 10 was $367,100 based on 311 home [...]

Picture Source:  PhotoBucket Hello, Have you ever heard people say things like: Laugh, it will make you feel better! Laughter is the best medicine! Just laugh about it!!!! After a couple of laughs you’ll start to feel better!!! Have you ever stopped to think that may be changing your way of viewing your illness and [...]

“HUD” is an acronym for the U.S. Department of Housing and Development. When someone defaults on a HUD insured mortgage, the lender forecloses on the home. HUD pays the lender the balance and takes possession of the home. HUD then sells the home at market value through approved brokerages, such as Realty World – Blue Property Group.
 HUD foreclosed homes can be a great deal for homebuyers.  HUD tries to sell the house as quickly as possible.  You will need a loan pre-approval from a bank, not a mortgage broker.  We can assist in the pre-approval.
Anyone who can qualify for a mortgage or pay cash can buy a HUD home.  Contact us for a list of available HUD properties.

Definitely getting prequalified for a loan first, but you can get prequalified and start looking for homes at the same time.  A Realtor can help you with the process if you are unsure, even if you have a lender or bank that you want to use.  Knowing how much you can afford to buy will save you lots of time and effort. 
A Realtor will help with the details and the process of the loan and buying process.  Probably more importantly, especially in the beginning, they can help direct you towards loan officers that are good, as opposed to just available.
Once approved, you now have an established price range and can concentrate on identifying neighborhoods, as well as a Realtor who support your interests and shares your vision.

Fortunately, the real estate industry is highly regulated and as a result, numerous laws, regulations and restrictions mean that the margin for issues is higher than other professions.  By and large, though ethics and good morals rule the day, complaints do occur – some unfounded, others valid.  If a complaint does exist, dig deeper and find the root of the problem and how the agent or brokerage handled the outcome.
In California, check the agent’s records under the Department of Real Estate, which can be done online at www.dre.gov.  Also check with the local Realtor’s Associations, the California Association of Realtors and the National Association of Realtors.  I would also recommend contacting the Better Business Bureau. Find out if their company is an accredited member, then check for complaints. 
 
 

The qualification process is the same in that qualification is for the loan, not the house.  Both foreclosures and new homes will likely require a loan pre-approval.  The question should really be “Is it harder to buy a foreclosure or new home?”…the answer, depending on your area, might be yes.  With foreclosures in hot markets, you will be competing with multiple offers, some of which are all cash with no loan contingencies.  In this case, you will likely lose your bid to purchase. 
Although foreclosures can be a great way to get a fantastic deal, it is often easier to purchase a standard sale with a willing seller.
 

If you’re an agent, homeowner or potential buyer that is somehow involved in a short-sale transaction, you already know that delays from the bank can easily take months for a response…any response. 
Good News!  The Treasury Dept has released a new set of rules scheduled to take place in April of 2010.  Banks will have a scheduled time frame with which to respond to short-sale offers with strict deadlines and specific, approved documents for use.  In addition, banks will need to approve the list price before the house is offfered, which should also help to speed up the approval process.
But the program is not perfect…the program is voluntary for lenders who hold secondary loans.  More than half of homeowners have a second loan, with that number likely greater in high-priced California.
Nevertheless, short-selling is usually still a better option than having a foreclosure on a credit report.  On average, with a foreclosure, an individual will not be able to qualify for another loan for 7 years, whereas with a short-sale the time frame is a much more manageable 2 years.

Qualification for the new program is reasonable:

must be principal residence
must be delinquent
loan must have been made before 1/1/09
loan amount must be below $729,750
borrower’s total monthly mortgage payment must be greater than 31% of the before-tax income