Governor Arnold Schwarzenegger signed SB 931 into law this past week, prohibiting lenders from pursuing deficiency judgements after short sales on all 1st liens in California, including “recourse” loans where the borrower has refinanced.
In California, once a seller has refinanced their mortgage, whether it is a cash out refinance or simply a refinance to a better interest rate, the loan becomes a recourse loan, meaning the bank can pursue the seller after the short sale for the deficiency, unless stated in writing that the debt is settled on the short sale approval.
Now, with the passage into law of SB 931, lenders are prohibited from pursuing sellers on all first mortgages in CA after a short sale.
Showing posts with label El Cajon Real Estate. Show all posts
Showing posts with label El Cajon Real Estate. Show all posts
Monday, October 18, 2010
Monday, August 30, 2010
Recent clients share their experience working with Susan Botticelli
08.29.10
Dear Susan,
Dianne and I would like to thank you so much for the outstanding results you provided to us on the recent sale of our home in Rancho San Diego. Most people who own real estate soon come to realize that our homes are much more than a financial investment. Homes are full of fond memories. Memories of children growing up, unforgettable times with family and friends, and holiday memories that will always remain close to our hearts are really what our homes become for us. Susan, your personal touch as our real estate agent preserved for Dianne and I everything our home was for us for fifteen years.
You provided three key factors to our successful closing: First, your marketing plan during the initial phase of the transaction was in complete alignment with current real estate conditions. You adjusted and tailored the details as the market changed, always keeping us well informed.
Second, your advice throughout the process was timely, technically accurate, and always presented clearly and completely. As you know, this transaction had a great deal of complexity involving three lending institutions, legal, tax, building code, and repair issues, as well as a variety of other circumstances unique even in today’s real estate market.
Third, and most critically, your ability to coordinate each and every detail of this complex transaction during the final phase leading up to the successful closing of the sale was tremendous. Your real estate and business acumen, and most importantly, your “personal touch”, provided us with the best service possible, and helped avoid a potential short sale and the resulting consequences.
Susan, I would strongly advise anyone who is interested in buying or selling a home in Rancho San Diego and the greater San Diego area to call you as soon as they possibly can! You and your team came through for Dianne and I, and I’m confident will come through for many other homeowners and future homeowners as well.
Warm regards,
George Fadok
Dear Susan,
Dianne and I would like to thank you so much for the outstanding results you provided to us on the recent sale of our home in Rancho San Diego. Most people who own real estate soon come to realize that our homes are much more than a financial investment. Homes are full of fond memories. Memories of children growing up, unforgettable times with family and friends, and holiday memories that will always remain close to our hearts are really what our homes become for us. Susan, your personal touch as our real estate agent preserved for Dianne and I everything our home was for us for fifteen years.
You provided three key factors to our successful closing: First, your marketing plan during the initial phase of the transaction was in complete alignment with current real estate conditions. You adjusted and tailored the details as the market changed, always keeping us well informed.
Second, your advice throughout the process was timely, technically accurate, and always presented clearly and completely. As you know, this transaction had a great deal of complexity involving three lending institutions, legal, tax, building code, and repair issues, as well as a variety of other circumstances unique even in today’s real estate market.
Third, and most critically, your ability to coordinate each and every detail of this complex transaction during the final phase leading up to the successful closing of the sale was tremendous. Your real estate and business acumen, and most importantly, your “personal touch”, provided us with the best service possible, and helped avoid a potential short sale and the resulting consequences.
Susan, I would strongly advise anyone who is interested in buying or selling a home in Rancho San Diego and the greater San Diego area to call you as soon as they possibly can! You and your team came through for Dianne and I, and I’m confident will come through for many other homeowners and future homeowners as well.
Warm regards,
George Fadok
Tuesday, July 27, 2010
Home and Design Videos
From green building to home staging, these home and design videos feature the latest industry trends and tips.
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Monday, July 12, 2010
July 2010 - San Diego Real Estate Market Update - July 2010
Avg time it takes for a homeowner in default to lose their home has gone from 251 days in Jan 2008 to 438 days in April 2010 – a 75% increase.
40% of all mortgages issued in 2010 are FHA (gov insured) – up from 20% in 2009, and 2% in 2005 & 2006
Because FHA loans only require a 3.5% down payment (“a subprime loan in sheep’s clothing”), 25% of 2007 & 2008 FHA loans have defaulted.
David Stevens, current FHA Commissioner, “This is a real estate market purely on life support, sustained by the federal government. Having FHA do this much volume is a sign of a very sick system.”
New Home Building Permits fell 10.9% in April & 5.9% in May, to its lowest level in over 50 years. Historically, new home building permits are the best leading indicator for the overall US economy.
New Home Sales dropped by 33% from April to May to their lowest point since WWII
As of mid June, mortgage purchase applications are down 42% since the April 30 end of tax credits (a 13 yr low).
The Pending Home Sales Index, a forward looking indicator, dropped 30% in May compared to April, the worst decline in 9 years.
40% of all mortgages issued in 2010 are FHA (gov insured) – up from 20% in 2009, and 2% in 2005 & 2006
Because FHA loans only require a 3.5% down payment (“a subprime loan in sheep’s clothing”), 25% of 2007 & 2008 FHA loans have defaulted.
David Stevens, current FHA Commissioner, “This is a real estate market purely on life support, sustained by the federal government. Having FHA do this much volume is a sign of a very sick system.”
New Home Building Permits fell 10.9% in April & 5.9% in May, to its lowest level in over 50 years. Historically, new home building permits are the best leading indicator for the overall US economy.
New Home Sales dropped by 33% from April to May to their lowest point since WWII
As of mid June, mortgage purchase applications are down 42% since the April 30 end of tax credits (a 13 yr low).
The Pending Home Sales Index, a forward looking indicator, dropped 30% in May compared to April, the worst decline in 9 years.
Friday, June 18, 2010
Federal Help For Homeonwers is Not Helping!
The following article explains in common sense ways the exact problem I am seeing with my clients as a real estate practioner. The modifications are not coming through, except for those few homeowners who have pristine credit and are just plain lucky because they have persisted through the complications and huge committment it takes to successfuly modify a mortgage!
Denied for Federal Mortgage Aid, Homeowners Seek Alternatives
By Stella M. Hopkins
RISMEDIA, June 18, 2010--(MCT)--Allison Rinehart's best hope for saving her home isn't the massive federal effort to stem foreclosures.
She's been denied, possibly in error, for that plan so she's banking on an alternative mortgage modification to keep her Charlotte townhouse.
"This is the only thing my daughter and I have," said Rinehart, who is 45. "I am a single parent, no child support, working as many jobs as I can take on."
The taxpayer-funded Home Affordable Modification Program, or HAMP, is the centerpiece of the nation's foreclosure prevention effort. But it doesn't work for many people.
For example, Bank of America estimated in April that more than half its 1.44 million delinquent mortgage customers weren't eligible for HAMP. Wells Fargo says about 80 percent of its roughly 500,000 modifications are non-HAMP. Combined, the two banks serve nearly 40 percent of U.S. mortgages.
HAMP also has seen a surge in homeowners failing the three-month trial period, and a decline in new trial enrollments. Critics blame servicers for the declines, saying they're doing a poor job and unfairly bouncing people from the program. Servicers acknowledge there were problems, especially early on. They also say homeowners aren't complying with payment agreements or document requirements.
Whatever the reason, the problem isn't going away. The number of struggling homeowners nationwide is expected to remain high because job growth remains sluggish and millions of people are out of work. That means alternative modifications are likely to become even more important tools for preventing foreclosure.
"The goal is just to get to affordability ... whether that happens through a modification through HAMP or outside of HAMP," said Tom Goyda, a Wells Fargo spokesman.
There are many reasons property owners can't qualify for the federal program.
For example, they might have refinanced or bought after HAMP's Jan. 1, 2009, cutoff. They might not meet income or debt requirements. HAMP modifications, subsidized by taxpayer dollars, also aren't available for investment property, vacation homes and high-end homes.
In April, Bank of America finalized more than 23,000 HAMP modifications and had more than 210,000 in the pipeline. The Charlotte bank also has been averaging about 13,000 alternative modifications a month this year, said spokesman Dan Frahm. Most are for customers with mortgages issued after the cutoff or above the HAMP limit or on properties that aren't their principal residence.
"HAMP is at the center of our modification efforts at Bank of America," Frahm said. "It's also important to recognize that no one solution or program can address the ... issues facing homeowners, who are experiencing hardship as a result of prolonged recessionary impacts."
President Barack Obama announced the HAMP program in February 2009, well into the financial crisis. Prior to that, lenders and mortgage servicers were already doing modifications so it's natural there are more of those. Many HAMP applicants also are still working through the slow, cumbersome process.
Servicers participating in HAMP must first consider homeowners for loan aid under that program. If that doesn't work for customers, servicers can consider them for their own programs.
Goyda said Wells is doing alternative modifications for about 60 percent of customers who reach HAMP's trial phase but don't ultimately qualify. About 10 percent find other solutions, and the balance are probably headed for foreclosure.
Of HAMP, he said: "It's only one part of our overall efforts to help customers find affordability."
Consumer advocates, while sharply critical of mortgage servicers for poor modification service, generally endorse HAMP's intent and its standardized approach.
"It's a useful template," said Julia Gordon, senior policy counsel with the Center for Responsible Lending in Washington. "It's by no means some kind of gold standard."
For example, a recent HAMP change eliminates unemployment benefits as a qualifying source of income for modifications.
"That's just crazy," she said.
Gordon cautiously welcomes alternative plans because they can potentially help more people. She's concerned homeowners won't have a consistent way to know what's available and how to qualify. She and others have seen instances where payments are actually higher under non-HAMP plans — not a workable solution for a struggling borrower.
She also frets about the lack of federal oversight for in-house plans. The U.S. Treasury oversees HAMP, but has been criticized for not penalizing servicers for mistakes.
Gordon urges people to review any modification offer carefully. What's the new payment? Has the principal been reduced if the loan balance exceeds the value of the house? How long does the modification last?
"It is conceivable you could have a proprietary product that's better," she said.
Under HAMP, the government pays servicers and homeowners for successful modifications. For homeowners who make all their payments on time, that can amount to $5,000 paid toward their loans.
Those incentives aren't available under alternative plans.
Al Ripley, with the nonprofit N.C. Justice Center, has been critical of HAMP's cumbersome nature. He's also concerned about the lack of consistency and transparency in alternative plans. He says all servicers should be required to disclose their guidelines and processes for all modifications.
"It would be very helpful for homeowners to have more predictability when applying for a modification," Ripley said.
Allison Rinehart's budget was tight in late 2004 when she paid about $136,000 for her Charlotte townhome.
She put $4,000 down on the home and took a 30-year mortgage at nearly 9 percent. Her monthly payments were $1,111. Rinehart and her daughter, Sydnea, now 15, got by on the roughly $30,000 a year Rinehart made as a longtime, self-employed hairdresser and middle-school coach.
Last spring, she noticed business dropping off more sharply as her clientele struggled in the downturn. In July, she asked for a modification from Select Portfolio Servicing, the Utah firm handling her mortgage. She received an unusually speedy offer of a trial plan, which is supposed to last three months.
Rinehart was told to make the first payment on Sept. 1 at her original amount. Subsequent trial payments were cut to $685. She made those payments through March, when she received a letter saying she was denied a HAMP modification. Soon after, she contacted McClatchy Newspapers.
"This has caused me sleepless nights, depression and anxiety," said Rinehart, who also works in her church's office and has been a nanny. "My 15-year-old doesn't know whether or not she will have her home the next day or not because of this."
SPS offered another trial, with monthly payments at an even lower $456. Rinehart started the payments in April but worried it was a delaying tactic and she'd be denied again. Meanwhile, she received notices from SPS saying that to keep her house she had to repay the thousands of dollars that hadn't been paid during the trials.
"It really scared me," she said. And angered her. If she had the money, she wouldn't have asked for help.
"It was a slap in the face."
In May, McClatchy Newspapers began contacting SPS, asking about Rinehart's case. After several weeks of messages and e-mails, the company said it would send Rinehart a response.
In that letter, SPS said Rinehart didn't qualify for HAMP because she failed to send documents by a certain date. Rinehart said that's not true, that she has copies and certified mail receipts proving she sent everything requested, on time.
The May 27 letter, which Rinehart provided the newspaper, confirmed Rinehart made the first two trial payments. The letter said once she made the third payment, due last week, "SPS will complete the modification process and you will receive the final modification agreement which requires your signature.
"Once this is received, SPS will permanently modify the terms of your note and bring your account current."
Her June payment cleared her bank shortly after the 1st of the month. On June 10, she arrived home to find the promised paperwork. She believes that happened only because she went public.
Last week, she was reviewing the papers and reflecting on what sustained her.
"I relied on my faith."
(c) 2010, The Charlotte Observer (Charlotte, N.C.).
Distributed by McClatchy-Tribune Information Services.
Denied for Federal Mortgage Aid, Homeowners Seek Alternatives
By Stella M. Hopkins
RISMEDIA, June 18, 2010--(MCT)--Allison Rinehart's best hope for saving her home isn't the massive federal effort to stem foreclosures.
She's been denied, possibly in error, for that plan so she's banking on an alternative mortgage modification to keep her Charlotte townhouse.
"This is the only thing my daughter and I have," said Rinehart, who is 45. "I am a single parent, no child support, working as many jobs as I can take on."
The taxpayer-funded Home Affordable Modification Program, or HAMP, is the centerpiece of the nation's foreclosure prevention effort. But it doesn't work for many people.
For example, Bank of America estimated in April that more than half its 1.44 million delinquent mortgage customers weren't eligible for HAMP. Wells Fargo says about 80 percent of its roughly 500,000 modifications are non-HAMP. Combined, the two banks serve nearly 40 percent of U.S. mortgages.
HAMP also has seen a surge in homeowners failing the three-month trial period, and a decline in new trial enrollments. Critics blame servicers for the declines, saying they're doing a poor job and unfairly bouncing people from the program. Servicers acknowledge there were problems, especially early on. They also say homeowners aren't complying with payment agreements or document requirements.
Whatever the reason, the problem isn't going away. The number of struggling homeowners nationwide is expected to remain high because job growth remains sluggish and millions of people are out of work. That means alternative modifications are likely to become even more important tools for preventing foreclosure.
"The goal is just to get to affordability ... whether that happens through a modification through HAMP or outside of HAMP," said Tom Goyda, a Wells Fargo spokesman.
There are many reasons property owners can't qualify for the federal program.
For example, they might have refinanced or bought after HAMP's Jan. 1, 2009, cutoff. They might not meet income or debt requirements. HAMP modifications, subsidized by taxpayer dollars, also aren't available for investment property, vacation homes and high-end homes.
In April, Bank of America finalized more than 23,000 HAMP modifications and had more than 210,000 in the pipeline. The Charlotte bank also has been averaging about 13,000 alternative modifications a month this year, said spokesman Dan Frahm. Most are for customers with mortgages issued after the cutoff or above the HAMP limit or on properties that aren't their principal residence.
"HAMP is at the center of our modification efforts at Bank of America," Frahm said. "It's also important to recognize that no one solution or program can address the ... issues facing homeowners, who are experiencing hardship as a result of prolonged recessionary impacts."
President Barack Obama announced the HAMP program in February 2009, well into the financial crisis. Prior to that, lenders and mortgage servicers were already doing modifications so it's natural there are more of those. Many HAMP applicants also are still working through the slow, cumbersome process.
Servicers participating in HAMP must first consider homeowners for loan aid under that program. If that doesn't work for customers, servicers can consider them for their own programs.
Goyda said Wells is doing alternative modifications for about 60 percent of customers who reach HAMP's trial phase but don't ultimately qualify. About 10 percent find other solutions, and the balance are probably headed for foreclosure.
Of HAMP, he said: "It's only one part of our overall efforts to help customers find affordability."
Consumer advocates, while sharply critical of mortgage servicers for poor modification service, generally endorse HAMP's intent and its standardized approach.
"It's a useful template," said Julia Gordon, senior policy counsel with the Center for Responsible Lending in Washington. "It's by no means some kind of gold standard."
For example, a recent HAMP change eliminates unemployment benefits as a qualifying source of income for modifications.
"That's just crazy," she said.
Gordon cautiously welcomes alternative plans because they can potentially help more people. She's concerned homeowners won't have a consistent way to know what's available and how to qualify. She and others have seen instances where payments are actually higher under non-HAMP plans — not a workable solution for a struggling borrower.
She also frets about the lack of federal oversight for in-house plans. The U.S. Treasury oversees HAMP, but has been criticized for not penalizing servicers for mistakes.
Gordon urges people to review any modification offer carefully. What's the new payment? Has the principal been reduced if the loan balance exceeds the value of the house? How long does the modification last?
"It is conceivable you could have a proprietary product that's better," she said.
Under HAMP, the government pays servicers and homeowners for successful modifications. For homeowners who make all their payments on time, that can amount to $5,000 paid toward their loans.
Those incentives aren't available under alternative plans.
Al Ripley, with the nonprofit N.C. Justice Center, has been critical of HAMP's cumbersome nature. He's also concerned about the lack of consistency and transparency in alternative plans. He says all servicers should be required to disclose their guidelines and processes for all modifications.
"It would be very helpful for homeowners to have more predictability when applying for a modification," Ripley said.
Allison Rinehart's budget was tight in late 2004 when she paid about $136,000 for her Charlotte townhome.
She put $4,000 down on the home and took a 30-year mortgage at nearly 9 percent. Her monthly payments were $1,111. Rinehart and her daughter, Sydnea, now 15, got by on the roughly $30,000 a year Rinehart made as a longtime, self-employed hairdresser and middle-school coach.
Last spring, she noticed business dropping off more sharply as her clientele struggled in the downturn. In July, she asked for a modification from Select Portfolio Servicing, the Utah firm handling her mortgage. She received an unusually speedy offer of a trial plan, which is supposed to last three months.
Rinehart was told to make the first payment on Sept. 1 at her original amount. Subsequent trial payments were cut to $685. She made those payments through March, when she received a letter saying she was denied a HAMP modification. Soon after, she contacted McClatchy Newspapers.
"This has caused me sleepless nights, depression and anxiety," said Rinehart, who also works in her church's office and has been a nanny. "My 15-year-old doesn't know whether or not she will have her home the next day or not because of this."
SPS offered another trial, with monthly payments at an even lower $456. Rinehart started the payments in April but worried it was a delaying tactic and she'd be denied again. Meanwhile, she received notices from SPS saying that to keep her house she had to repay the thousands of dollars that hadn't been paid during the trials.
"It really scared me," she said. And angered her. If she had the money, she wouldn't have asked for help.
"It was a slap in the face."
In May, McClatchy Newspapers began contacting SPS, asking about Rinehart's case. After several weeks of messages and e-mails, the company said it would send Rinehart a response.
In that letter, SPS said Rinehart didn't qualify for HAMP because she failed to send documents by a certain date. Rinehart said that's not true, that she has copies and certified mail receipts proving she sent everything requested, on time.
The May 27 letter, which Rinehart provided the newspaper, confirmed Rinehart made the first two trial payments. The letter said once she made the third payment, due last week, "SPS will complete the modification process and you will receive the final modification agreement which requires your signature.
"Once this is received, SPS will permanently modify the terms of your note and bring your account current."
Her June payment cleared her bank shortly after the 1st of the month. On June 10, she arrived home to find the promised paperwork. She believes that happened only because she went public.
Last week, she was reviewing the papers and reflecting on what sustained her.
"I relied on my faith."
(c) 2010, The Charlotte Observer (Charlotte, N.C.).
Distributed by McClatchy-Tribune Information Services.
Buyers Drive Hard Bargains in a Tough Market
Unrealistic buyers are ruining the deal for sellers who are unwilling to make extreme concessions, some real estate practitioners complain.
''We see buyers who must have learned their moves from the World Wrestling Federation,'' says Glenn Kelman, CEO of the online brokerage Redfin. ''They think the final smack-down occurs at the inspection, where the seller will be reluctant to refuse any demand because the alternative is putting the house back on the market as damaged goods.''
But buyers say they're simply being smart.
''We had the position, 'If the seller is willing to come down enough, we will buy this home.' If they weren't willing, we would have just moved on. In this market, you have a lot of options,'' says Chris Dunn, a consultant in Chicago, who sought a 10 percent reduction on a property priced at more than $500,000.
Source: The New York Times, David Streitfeld (06/17/2010)
''We see buyers who must have learned their moves from the World Wrestling Federation,'' says Glenn Kelman, CEO of the online brokerage Redfin. ''They think the final smack-down occurs at the inspection, where the seller will be reluctant to refuse any demand because the alternative is putting the house back on the market as damaged goods.''
But buyers say they're simply being smart.
''We had the position, 'If the seller is willing to come down enough, we will buy this home.' If they weren't willing, we would have just moved on. In this market, you have a lot of options,'' says Chris Dunn, a consultant in Chicago, who sought a 10 percent reduction on a property priced at more than $500,000.
Source: The New York Times, David Streitfeld (06/17/2010)
Thursday, May 20, 2010
1707 Augusta Court, El Cajon, CA 92019
3 Bedroom, 3 Bath, 1439 Square Feet
A lovely home inside and out featuring new windows and doors, fresh paint, new spa, new appliances with stunning new granite counter-tops, new air-conditioning and all copper plumbing. Floral display at the back and front entry is stunning.
$389,000 - $410,000
Tuesday, May 11, 2010
Home Staging Video and Tips By Susan Botticelli
One of the services I love to provide for my clients when they list a home with me is staging and home preparation. It's amazing what a little pre-market preparation will do to help a home look it's best when buyer's come through the door. My clients rave about the finished product and benefit greatly from selling their homes in a shorter time period while reaping a higher profit!
A few years ago I thought it might be fun to video the transformation of one of my listings to show a home in the before and after staging states. Click on the link provided here http://motionmediacommunications.com/botticelli/staging.wmv to view Susan Botticelli's video on home staging and tips on how to enhance your property for sale.
According to Brandon Cornett, editor of the Home Buying Institute, there are 6 key benefits that come with staging a home.
1. Staging forces you to think like a buyer.
When you are staging your home for sale you will be looking at your home through the buyer's eyes. Think of how a buyer walks through a professionally staged model home in a new subdivision. Work from room to room and ask yourself if this room has that "wow factor"!
2. Staging forces you to organize and de-clutter.
Cleaning shelves, closets and cabinets is a big part of the home staging process. It also helps with your moving process because you can pack items away in boxes as you de-clutter.
3. Staging increases the likelihood of a sale.
When you are selling your home you need to do everything you can to increase your chances of selling your home. A professionally staged home gives a seller an extra edge in the marketplace.
4. Staging reduces your home's time on the market.
When you put the extra effort into staging effectively, you are preparing your home for a quicker sale. A quicker sale will net you a higher profit.
5. Staging helps justify your asking price.
A professionally staged home for sale in a seller's market decreases the chances a buyer will haggle with you over price. In a market which leans toward the buyer, you need everything in your favor to justify the asking price. A properly staged home will position your home more favorably in the buyer's mind.
6. Staging can be fun!
While staging may sound like all work and no play, be sure to use your creativity throughout the process to make it more enjoyable.
So next time the thought of selling your home runs through your mind, think first about how important proper staging and presentation of your home is. Then call Susan Botticelli at 619-441-8473 to enlist her professional expertise in staging your home and selling your home for top dollar!
Saturday, April 24, 2010
Susan Botticelli, Broker Opens New Real Estate Business!
With over 15 years of selling residential real estate and land throughout San Diego County, and more than 400 transactions completed, I can legitimately state that I have a wealth of real estate experiences to draw from when representing my clients! As of April 1, 2010 this wealth of experience and the desire to expand entrepreneurial opportunities has lead to the creation of my own real estate brokerage, San Diego Properties Group.
I have been a top producing agent throughout my career. With Coldwell Banker Real Estate I garnered the Distinguished Achievement Award for being the top real estate sales agent as a rookie. After 5 years with Coldwell Banker I moved to One Source Realty to work with a locally owned and operated firm. Monthly sales meetings with One Source Realty honored me as the top listing agent and top sales agent over 5 years of business. Then Keller Williams Realty lured me away to join the La Mesa office and begin the process of opening a Keller Williams office in Mission Valley, San Diego. It was at that time I obtained my broker's license to prepare to become the broker of that office.
I quickly realized it would be an impossible task for me to continue to serve the needs of my loyal clientele and be an effective broker of this new office, and be a great mom and single parent to my daughter Stefani and my son Andrew. I decided to keep my focus on selling real estate rather than managing a multitude of agents. I loved working with Keller Williams from the standpoint of that company's ethics and multilevel training programs. As with working with any company though, a successful business relationship is formed by staying within the companies corporate box and there are restraints on how you run your business.
My own brokerage, San Diego Properties Group, is a real estate services company providing expert guidance in the sale and purchase of single family homes, condos, investment properties and land. With California real estate values at a low point over the last 3 years, investors are acting on the opportunities to place their dollars in tangible assets like real estate. First time buyers have turned out in great numbers to take advantage of the available $8,000 tax credit for purchasing a home. Families who have outgrown smaller homes are now buying larger, newly built homes at lower market prices with their own tax advantage of $10,000 in tax credits.
Another focus of San Diego Properties Group is helping clients work through financial problems of the current economic downturn. New government programs are beginning this month to assist homeowners with modifications of their mortgages through the Home Affordable Modification Program (HAMP). This program is designed to assist homeowners with retaining their homes through a modification of their existing loan terms. For those who are unable to retain their home another program called Home Affordable Foreclosure Alternatives (HAFA) has been created to provide incentives for short sales and deed-in-lieu of foreclosures. Both government programs are focused on making the quagmire of steps required for successful loan modifications or short sales simpler. San Diego Properties Group has the experience of short sales helping homeowners get relief from burdensome property debt.
San Diego Properties Group not only handles transactions throughout San Diego County, but is also networked with other brokers and real estate companies across America in order to provide relocation assistance. My clients who need to sell their homes in San Diego County, in order to make a job-related move to other states, find that I can provide the services they need to make this transition as smooth as possible. With the network of agents in other cities and states I have created, I can research which real estate companies, but specifically which agents or brokers, have the expertise to best help them find the perfect replacement home.
Having lived in the community of Rancho San Diego in the East County for 15 years I have focused on making my community a better place to live and given back to the community in many ways. As a board member with the Cottonwood Homeowner's Association I saw the problem of this group dwindling away which resulted in it's dissolution. I have worked to bring back a sense of community by holding neighborhood meetings to discuss ways to monitor crime, improve the maintenance and use of parks and open spaces, as well as hosted parties in the parks and annual neighborhood garage sales.
My website http://www.ranchosandiegolifestyle.com/ has become a great source of information on community developments as well as a place where neighbors can network with each other. The monthly email newsletter is read by over 1,000 residents each month. The website provides neighborly referrals for business owners, updates on new companies and business in the community, real estate articles with data on changing values and trends, a job search site and lots of articles for homeowners.
As a board member for the East County YMCA I have worked for many years raising funds and helping to guide decisions on building and operating the new McGrath Family YMCA just open in April 2010. This state-of-the-art facility offers a much needed community site for families and individuals of all ages to gather for exercise, sports leagues, youth programs, senior social activities and other community based programs. This year I will co-chair the 16th annual fund raising event The Branding where over 600 area residents and companies will turn out for an evening under the stars and the shadows of this new facility to raise funds for this new facility
East County YMCA supporters have raised $8 milllion so far to fund this building project which is debt free! The facility includes the Tuttle Indoor Soccer Field, the Scott Mc Donald Baseball Field, the Dallas Pugh Gymnasium and the Hendrix Youth Center. An additional $3 million is being raised to build three pools at this site. Supervisor Dianne Jacob has committed to building a signature East County pool complex here which will include a kiddie splash pad, a 25 meter indoor pool and a competition pool. A total of $500,000 has been donated so far to build this pool complex. Contact Susan Botticelli at 619-441-8473 to discuss donation and naming opportunities and how you can participate in making this dream become a reality!
For more information on our changing real estate market, or to talk with Susan about selling or buying real estate, contact her at 619-441-8473 or email at sbotticelli@att.net today!
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