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Marcy Moyer's Blog (122)

Sunnyvale Underwater Homeowners, Open Those Letters From Chase

Many homeowners who are having trouble paying their mortgages will stop opening their mail from the lender. It is understandable to feel, what is the point? I can't pay and nothing they say to me will change that. However, if your lender is Chase you may want to open that letter.

Chase is giving relocation assistance to some homeowners who are in default if they agree to short sell their…

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Added by Marcy Moyer on May 18, 2012 at 2:28pm — No Comments

I Keep Losing Mountain View Multiple Offers, Should I Change Agents?

It is no secret Mountain View as well as most of the Silicon Valley is experiencing multiple offers on homes for sale. While this is great for sellers, it can be extremely frustrating for buyers, and their agents. After losing 5-10 homes a buyer will unquestionalbly start to doubt their agent. They may feel that their agent is doing something wrong and maybe it is time to find someone else.

Will this work? Maybe, but there are limits to what a…

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Added by Marcy Moyer on May 13, 2012 at 11:00pm — 3 Comments

Redwood City Short Sales Don't Look So Bad in A Low Inventory Market

The landscape for short sales is changing. As the inventory of homes for sale stays at historically low levels all over Silicon Valley, short sales are gaining in popularity for buyers. Added to that is the fact that short sales, while not a sure thing, are getting approved at increasingly higher…

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Added by Marcy Moyer on May 9, 2012 at 8:30pm — No Comments

Chase Approves Another San Jose Short Sale

Just got approval on another short sale in San Jose with Chase. They are getting to be one of my favorites!

This was not straight forward. Client lost his job and was not able to make payments. He tried a loan mod but did not qualify due to having too much in retirement account. Client is close to retiring.

Put condo on market and got 13 offers.…

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Added by Marcy Moyer on May 9, 2012 at 12:47am — No Comments

Chase Says Keep Trying For a Redwood City Short Sale

I am helping out on a short sale in Redwood City where Chase is servicing the first and second loan. What this means is that the owner has first and second mortgages that were originally gotten from Chase. These loans were then sold to investors and Chase maintained the servicing. This means that ultimately Chase no longer makes the decision about whether or not to…

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Added by Marcy Moyer on April 22, 2012 at 2:40pm — No Comments

Because I Said So or How to Survive Silicon Valley Real Estate

It is no secret that the market in Silicon Valley is crazy. The inventory has never been lower so the competition for homes is  fierce. For example, Taylor Morrison is opening up a new town home development in Sunnyvale in May and they already have 300 people on the waiting list. Homes in Palo Alto are sometimes getting…

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Added by Marcy Moyer on April 20, 2012 at 2:28am — No Comments

An Unusual Silicon Valley Wells Fargo Short Sale Just Closed

I just closed a Wells Fargo Short Sale that is not typical. It was a nice 3 bedroom townhome in North San Jose, close to Santa Clara. The owners were divorcing and neither could afford to buy the other one out or afford the property alone. This constitutes a hardship in most lender's minds. I have closed other Wells Fargo short sales with similar circumstances. The current owners had been able to…

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Added by Marcy Moyer on April 13, 2012 at 12:51pm — No Comments

How Many Short Sales Are on the Market in Santa Clara County?

Inventory is down in all segments of the market in the Silicon Valley and multiple offers are driving prices up. However, there are still short sales, and in some areas they make up a good percentage of the homes for sale. Here are the numbers:

 

Palo Alto: Single Family Homes and Condos for Sale: 48 Short Sales: 0 Percentage: 0

Mountain View Single Family Homes and Condos For Sale: 39 Short Sales: 2 Percentage Short Sales: 5.1 %

Sunnyvale: Single Family Homes and…

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Added by Marcy Moyer on March 8, 2012 at 7:00pm — No Comments

What Does it Take to Win in a Silicon Valley Short Sale Multiple Offer Situation

The real estate market in the Silicon Valley is very heated up this days, but there are still plenty of short sales being offered. Many of these short sales are in higher price ranges that have previously not seen a lot of short sale activity. What that means is that agents who do not have a lot of experience…

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Added by Marcy Moyer on March 7, 2012 at 2:07pm — No Comments

San Jose Short Sale Got Wells Fargo Approval

I just got approval on a Wells Fargo Short sale in San Jose. It was both a long and short road.

The long road first:

Town home put on the market in October of 2011 at $575,000. After one week we received an offer for which the seller accepted and it was sent to the bank.

Sellers were not behind on payments but are getting divorced and neither one can afford the home alone or…

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Added by Marcy Moyer on March 5, 2012 at 10:05pm — No Comments

Blossom Valley Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in the Blossom Valley Neighborhood of San Jose. So here's what happened:

 

Single family and condo townhomes :

Total sales:  1141

Short Sales: 412

REO:            271

Distressed sales as a percentage of total sales: 59.8%

Compare to 2010

Total sales:   1125

Short Sales:   366

REO:          …

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Added by Marcy Moyer on February 11, 2012 at 7:13pm — No Comments

Almaden Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in the Almaden Neighborhood of San Jose. So here's what happened:

 

Single family and condo townhomes :

Total sales:  355

Short Sales: 39

REO:            20

Distressed sales as a percentage of total sales: 16.6%

Compare to 2010

Total sales:   384

Short Sales:   28

REO:            14

Distressed…

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Added by Marcy Moyer on February 11, 2012 at 6:22pm — No Comments

Cambrian Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in the Cambrian Neighborhood of San Jose. So here's what happened:

 

Single family and condo townhomes :

Total sales:  656

Short Sales: 130

REO:            89

Distressed sales as a percentage of total sales: 33.45

Compare to 2010

Total sales:   750

Short Sales:   114

REO:          …

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Added by Marcy Moyer on February 5, 2012 at 1:02pm — No Comments

Los Gatos Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Gatos. So here's what happened:

 

Single family and condo townhomes :

Total sales:  421

Short Sales: 42

REO:            24

Distressed sales as a percentage of total sales: 15.7%

Compare to 2010

Total sales:   489

Short Sales:   36

REO:            38

Distressed sales as a percentage of…

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Added by Marcy Moyer on February 4, 2012 at 7:24pm — No Comments

Milpitas Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Milpitas. So here's what happened:

 

Single family and condo townhomes :

Total sales:  513

Short Sales: 150

REO:            112

Distressed sales as a percentage of total sales: 51.1%

Compare to 2010

Total sales:   535

Short Sales:   131

REO:            140

Distressed sales as a percentage of…

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Added by Marcy Moyer on February 4, 2012 at 6:56pm — No Comments

Los Altos Hills Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Altos Hills. So here's what happened:

 

Single family and condo townhomes :

Total sales:  97

Short Sales: 4

REO:            6

Distressed sales as a percentage of total sales: 10.3%

Compare to 2010

Total sales:   81

Short Sales:   5

REO:            1

Distressed sales as a percentage of…

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Added by Marcy Moyer on January 31, 2012 at 10:39pm — No Comments

Cupertino Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Cupertino. So here's what happened:

 

Single family and condo townhomes :

Total sales:  453

Short Sales: 21

REO:            11

Distressed sales as a percentage of total sales: 6.8%

Compare to 2010

Total sales:   844

Short Sales:   31

REO:            33

Distressed sales as a percentage of…

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Added by Marcy Moyer on January 29, 2012 at 9:48pm — No Comments

It's the beginning of the year so time for the round-up of last year's distressed property sales in Sunnyvale. So here's what happened:   Single family and condo townhomes : Total sales:  835 Short S…

It's the beginning of the year so time for the round-up of last year's distressed property sales in Sunnyvale. So here's what happened:

 

Single family and condo townhomes :

Total sales:  835

Short Sales: 111

REO:            73

Distressed sales as a percentage of total sales: 22%

Compare to 2010

Total sales:   849

Short Sales:   106

REO:            89

Distressed sales as a percentage of…

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Added by Marcy Moyer on January 10, 2012 at 9:48pm — No Comments

Mountain View Distressed Property Watch 2011

It's the end of the year so time for the round-up of distressed property sales in Mountain View. So here's what happened:

 

Single family and condo townhomes :

Total sales:  563

Short Sales: 62

REO:           34

Distressed sales as a percentage of total sales: 17%

Compare to 2010

Total sales:   572

Short Sales:   50

REO:            34

Distressed sales as a percentage of total sales:…

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Added by Marcy Moyer on January 8, 2012 at 10:23pm — No Comments

San Carlos Distressed Property Watch 2011

It's the end of the year so time for the round-up of distressed property sales in San Carlos. So here's what happened:

 

Single family and condo townhomes :

Total sales:  357

Short Sales: 24

REO:           18

Distressed sales as a percentage of total sales: 11.7%

Compare to 2010

Total sales:   312

Short Sales:   17

REO:            10

Distressed sales as a percentage of total sales:…

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Added by Marcy Moyer on January 4, 2012 at 11:02pm — No Comments

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