Garage Sale

Your neighbors are having a Garage Sale

Please visit them at:

3816 Ostrom

Between Studebaker & Los Coyotes / South of Carson


Saturday October 31


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Garage Sales

Garage Sales TODAY!

Two of your neighbors are having a Garage Sale

Please visit them at:

3924 Monogram

Between Palo Verde & Los Coyotes / South of Carson
Enter on Harco turn on Alberan then Monogram

Saturday October 24

And...

3618 Ladoga

Between Studebaker & Los Coyotes / North of Keynote


Saturday October 24

Short Sales

From ClarkHoward.com:

Short sales now a viable option for buyers and sellers

Short sales are gaining traction among lenders because of a new federal incentive. In essence, the government has agreed to absorb a part of the loss that a bank sustains whenever they do a short sale.

"In May, the Treasury Department said it would offer a streamlined framework for short sales and incentive payments of $1,500 to homeowners, $1,000 to loan servicers and $1,000 to second-lien holders," The San Francisco Chronicle reports.

Just 18 months ago, the term "short sale" was not widely known. Today, it's gaining some currency as more and more short sales get done, but it's still a misunderstood concept.

Short sales are when you need to get out of a house and you get the lender to agree to take market value on the sale -- instead of what you actually owe on it. You'll take a hit of about 120 or 130 points on your credit score for doing one.

Are banks doing this as a charity effort? No, it's cheaper for them to do a short sale versus a foreclosure. Some of the biggest lenders now have "war rooms" with specialists to process short sales. Certain lenders even take requests for short sales electronically nowadays.

Our associate producer Joel started looking to buy a home last winter. He immediately began honing in on short sales, much to Clark's dismay. The consumer champ knew that banks were notoriously incompetent when it came to processing short sales.

Naturally, Clark urged Joel to steer clear of them. But being a young man, Joel completely ignored Clark! So much of the market was short sales that it would have been very hard to ignore them in his search.

Joel was right in this case; he bought a short sale for $89,000 with a 15-year loan at 4.375 percent. The property had last sold for $155,000. So his patience was rewarded, but it took the better part of a year. And that's now made Clark himself reconsider the short sale as a viable option for struggling homeowners. It's for real this time!

Watching The Numbers

Watching the number of homes both for sale and in escrow in East Long Beach gives us a barometer on what is happening in our local real estate market. Obviously, a rising number of homes in escrow is a good sign of things. On the other hand, a rising number of homes currently for sale can have a depressing result on prices. We will be constantly watching these numbers and posting them here. As of today the numbers stand at:

Date	Homes On Market	Homes In Escrow
Oct 21	66	90
Oct 4	73	87
Sept 21	70	86
Sept 03	69	97
Aug 13	76	80
July 14	107	93
July 1	69	98
June 13	77	105
June 8	69	106
May 30	66	102
May 18	59	102
May 10	78	88

Please add your comments and questions below...

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Garage Sale

Your neighbors are having a Garage Sale

Please visit them at:

3919 Monogram

Between Palo Verde & Los Coyotes / South of Carson
Enter on Harco turn on Alberan then Monogram

Friday October 16 & Saturday October 17
8am to 3pm


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Open House

Open House
Sunday October 11 * 1-4pm

3932 Knoxville Ave.
Located between Palo Verde & Los Coyotes - (south of Carson)
3 BR / 2BA / 1,350 SQFT
$524,999

Hope To See You There!

Coming Soon!

Super Sharp!

(E/Palo Verde & S/Carson)
3 BR / 2BA
$524,999

Please let us know if you have a friend or relative looking for a home

.

Watching The Numbers

Watching the number of homes both for sale and in escrow in East Long Beach gives us a barometer on what is happening in our local real estate market. Obviously, a rising number of homes in escrow is a good sign of things. On the other hand, a rising number of homes currently for sale can have a depressing result on prices. We will be constantly watching these numbers and posting them here. As of today the numbers stand at:

Date	Homes On Market	Homes In Escrow
Oct 4	73	87
Sept 21	70	86
Sept 03	69	97
Aug 13	76	80
July 14	107	93
July 1	69	98
June 13	77	105
June 8	69	106
May 30	66	102
May 18	59	102
May 10	78	88

Please add your comments and questions below...

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