SHORT SALE AND FORECLOSURE BLOG

RVINE, CA, Jan 26, 2012 (MARKETWIRE via COMTEX) — RealtyTrac(R) ( www.realtytrac.com ), the leading online marketplace for foreclosures, today released its Q3 2011 U.S. Foreclosure Sales Report(TM), which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 20 percent of all U.S. residential sales in the [...]

Tags: 360 REALTY, Agents, bank owned, buyers, City of Los Angeles, foreclosure, homes, investors, los angeles real estate, pre-foreclossure, property, REO, short sale expert, Short Sales

Calling it “inadequate for California,” the state is rejecting the latest settlement proposal between states and major U.S. banks over lending abuses that fueled the foreclosure crisis. California Attorney General Kamala Harris pulled out of nationwide talks with the banks in October, saying the proposed $25 billion deal gave too much immunity to lenders and didn’t provide [...]

Tags: 360 REALTY, Agents, Ally, Bank of America, California Attorney General, Chase, Citibank, City of Los Angeles, deceptive lending, delinquent homeowners, Foreclosure Settlement, JPMorgan, Loan Modifications, mortgages, real estate los angeles, Sale, short sale expert, Wells Fargo

Responding to falling prices and stiff competition from foreclosures, home building activity in 2011 dropped to an all-time low in Inland Southern California, according to a report released Wednesday by the California Building Industry Association. Statewide, 2011 marked the third lowest year on record for overall housing production. A record low in the volume of [...]

Tags: 360 REALTY, Agents, california real estate, City of Los Angeles, home building, home construction, los angeles real estate, mortgage, New Homes, real estate, real estate experts

The LA Redistricting Commission released its proposed City Council District map today and there is already a good amount of outrage going on. The Commission redraws the map every ten years to split the city’s 15 districts evenly among the population and to ensure minority representation. As the LA Times explains, “The draft maps were drawn by commissioners in a [...]

Tags: 360 REALTY, Agents, Beverly Hills, City Lines, Districts, Downtown, Hancock Park, hollywood, Koreatown, LA Redistricting, Larchmont Village, los angeles real estate, Maps, Miracle Mile, real estate experts, real estate los angeles, South Park, Watts, Westchester, Wilshire

The City Council today voted to move forward with the “Clean Hands” Ordinance, a new ordinance modeled on a 25 year old LA County law that prohibits a contractor from pulling permits (e.g., for grading work) when in violation of codes or regulations (e.g., doing grading work without a permit). If passed, the new ordinance would [...]

Tags: 360 REALTY, Agents, Building Permits, City of Los Angeles, los angeles real estate, property

It would quite astonishing to see a dichotomy throughout almost everything in Are generally and the same applies to its real estate. Real estate property Los Angeles tops the national foreclosures list as well as unemployment is just about 10%. But if are wondering by investing in these conditions you will be able to easily [...]

Tags: 360 REALTY, City of Los Angeles, hollywood, Los Angeles Living, los angeles real estate, los angeles real estate agent, real estate, real estate experts

Do educate yourself. This is THE most important thing you can do.  Short sales can be complicated. You need every bit of information you can get when you jump into the short sale process. Don’t wait until it’s too late. If you drag your feet and hide from the fact that you’ve stopped making mortgage payments, it will [...]

Tags: 360 REALTY, Agents, City of Los Angeles, FANNIE MAE, foreclosure, FREDDIE MAC, los angeles real estate, los angeles real estate agent, los angeles short sales, short sale expert, Short Sale Q&A

During the last 3 years, around 650,000 property owners in California have lost their houses to foreclosure. As it stands today, nearly 30 percent of property owners owe more than their property is worth. To avoid repossessions, many of them are choosing to sell their houses for less than the amount they owe, creating a [...]

Tags: 360 REALTY, Agents, Business Finance, City of Los Angeles, HAFA short sale, real estate experts, short sale expert, short sale experts, short sale homes in California, short sale specialist, Short Sales

California lawmakers voted Monday to extend a law passed during the peak of the mortgage crisis that provides added protections for property owners, renters and neighbors of foreclosed properties. The law passed in 2008 says foreclosure proceedings can’t begin until the lender has tried for 30 days to work out alternatives with the delinquent homeowner. [...]

Tags: 360 REALTY, Agents, california, City of Los Angeles, real estate, real estate california, real estate experts, real estate los angeles, SB708

This is not news, but it IS critical for any Seller thinking about listing their home as a Short Sale in California in 2012. Remember the MOST critical thing..the Debt Forgiveness Act expires on 12/31/2012. Will it be extended? Most likely. However..do you want to take that chance? Read on for a recap of our [...]

Tags: 360 REALTY, 580e, Agents, anti deficiency, anti-deficiency law, City of Los Angeles, FANNIE MAE, foreclosure, FREDDIE MAC, homeowner, HOW TO SHORT SALE, Short Sale Q&A, short sale questions, Short Sales, Tax Aspects Of A Short Sale