LYNNE HUXTABLE and JEFFREY A. AGNEW, Plaintiffs, v. TIMOTHY F. GEITHNER, et al., Defendants.

Case No. 09cv1846 BTM(NLS)

UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF CALIFORNIA

December 23, 2009, Decided

December 23, 2009, Filed

OPINION

ORDER DENYING MOTION TO DISMISS

On  [*2] September 21, 2009, Defendants National City Bank and PNC Financial Services Group, Inc. (“Moving Defendants”) filed a motion to dismiss the Complaint for failure to state a claim. For the following reasons, the motion is DENIED.

I. BACKGROUND

Plaintiffs’ Complaint arises out of non-judicial foreclosure proceedings related to their home in Ramona, California. The following are factual allegations in the Complaint and are not the Court’s findings.

Plaintiffs defaulted on their home mortgage in November 2007. (Compl. P 26.) In February 2008, a notice of default was recorded and served. (Compl. P 27.) And in December 2008, a notice of sale was recorded and served, setting a date for the public auction of Plaintiffs’ home. (Compl. P 29.) Pursuant to a joint motion, the Court has enjoined the sale of Plaintiffs’ home during the pendency of this action. (September 29, 2009 Order, Doc. 25.)

Plaintiffs allege that they are eligible for a loan modification under the Home Affordable Modification Program (“HAMP”). (Compl. P 95.) HAMP is a federally funded program that allows mortgagors to refinance their mortgages and reduce their monthly payments. (Compl. P 66.) Despite their eligibility for HAMP,  [*3] the loan servicer, Defendant National City Mortgage Company, twice denied their application for a loan modification. (Compl. PP 90, 93.) Plaintiffs did not receive a reason for the denial or an opportunity to appeal. (Compl. P 100.)

Plaintiffs’ Complaint contains two counts. Both are for violation of due process under the Fifth Amendment for failing to create rules implementing HAMP that comport with due process. (Compl. PP 114-27.)

Defendants National City Bank and PNC Financial Services Group, Inc. have moved to dismiss the Complaint on the grounds that Plaintiffs have failed to plead that they are state actors.

4closureFraud
http://4closurefraud.wordpress.com/

A woman searches for her husband, who she says left her with mounting bills after winning the lottery
– See what happens to her next…

Should she just give up and let it go?

This note is to all those buyers looking at short sales or foreclosed homes.  You must have patience and time, lots of both.  The savings on a property can be enormous.  The time involved may be also be huge.

I am presently in a deal for my buyer to purchase a distressed property.  The deal may take months to close.  This is an all cash deal.  One would think the banks would be all over this offer.  Nope.  There are steps and procedures and now a third professional is involved, the negotiator.  No steps to be bypassed,  no calendar date that can’t be ignored, they’re there for the duration and so is everyone else.  Time is of the essence is lender lingo for , “What’s the rush.”

November 2009 remains to be a buyers market.  In my opinion, it will remain so till at least next spring (2010).  when buying a distressed property, plan on a closing in 3-12 months from making the offer and having it signed around.  To make for a more timely closing, make a full price offer, providing the property supports the price and condition.  Asks questions, and lots of them.  Ask about the listing agent, the lender(s).  Your real estate agent will guide you in the process for buying  property.

Bon Chance!

Modern day version of Matthew 7:24-27

Investing in Foreclosed Property – Where to Start: “in May 2009, the three States that contribute the most foreclosure were filed in Nevada, California and Florida. These three countries alone accounted for more than half the 321,000 foreclosure filings for the entire nation during the month of May In Nevada, 1 in every 64 homes suffered foreclosure, making it the state with the highest foreclosure rates in the country. Clark and Lyon counties are the largest taxpayers in Nevada, including cities like Las Vegas, Henderson, Mesquite, Fernley, Yerington, Dayton and Silver Springs. California follows a hierarchy with a rate of 1 in every 144 homes facing foreclosure. Counties contributed greatly to this figure includes San Bernardino, Kern, Orange, Merced and Madera. In these counties are cities like San Bernardino, Ontario, Bakersfield, Ridgecrest, Santa Ana, Anaheim, Madera and Merced.”

For the average home buyer, you find foreclosed homes for sale just like you find any other home for sale.

In my opinion, the best way to find foreclosure property, or any home for sale, is to work with a Realtor who specializes in the area you are looking. I know you expect me to say this because, after all, I am a Realtor. However, my being a Realtor does not change the fact that you will normally experience much greater success locating, viewing, “discovering,” negotiating, and closing on a home using a Realtor than you would trying to do this on your own or with the help of your co-worker, brother-in-law or resident know-it-all. I say normally because, as with every profession, there are always a few rotten apples. You need to work with a Realtor who is both personal and professional, and someone you feel comfortable with. Ask for referrals and interview a few agents – remember you are the boss – the agent works for you!

Poway: Sold for $475,000 in 2004 - Sold for $320,000 in 2009 as REO

There are many “Foreclosure Finder” websites that charge a monthly fee in exchange for foreclosure information. In my experience, these websites are a waste of money for the average home buyer. If you are an investor and are looking for a very in-depth foreclosure finder service the only service I would recommend is ForeclosureRadar.com.

Most buyers are much better off working with a knowledgeable Realtor. You get accurate information, the ability to see the home, and someone who will negotiate the transaction, plus it doesn’t cost you a penny…remember, the buyer’s agent is paid by the seller! Foreclosure properties, otherwise known as Bank Owned or REO (Real Estate Owned…real estate owned by the bank) make up anywhere from 20-50% of the homes sold in San Diego over the past 12 months. I expect this to continue at least through 2010. REOs are competitively priced and often receive multiple offers.

I will be talking much more about foreclosure properties in future posts, so stay tuned!

With the first time home buyer tax credit deadline is quickly approaching. There are many buyers out there looking for homes and there is a lot of interest in HUD homes. I get  many question on what is a HUD home, how do I purchase a HUD home, does HUD finance the home? So I’m going to cover a few questions that may help you when you decide to venture into the realm of the HUD homes.

1. What is a HUD home?

A HUD home is a home that has been foreclosed that FHA (Federal Housing Administration) has provided and insured the FHA loan.

2. What does a HUD home cost?

HUD homes are appraised at the fair market value for the area that they are located. If the HUD home is in need of repairs, then the price is adjusted down to reflect what the new owner may have to put into the home.

3. Does HUD make any repairs?

HUD homes are sold in as-is condition and the new owner is responsible for making the repairs and improvements.

4. Does HUD finance the home?

HUD does not finance homes. You will need to have a lender do the financing. Make sure the lender you use is familiar with the process of doing HUD financing.

5. How do I find a HUD home?

HUD homes can be found on the HUD website. Just click on your state and then the city that interests you and search away. A little hint that will help HUD posts their new inventory on Fridays.

Once you find a home you would like to see, you will need to contact a HUD approved real estate broker to show you the home.  HUD employees do not work with home buyers, you must use a real estate broker.

6. How do I purchase a HUD home.

HUD homes are sold on a bid system. The initial bid period is  restricted to buyers who will occupy the home, this period is usually the first 10 days that the home is listed on the site. If you owner occupant bid is accepted then the bidding is opened up to investors. HUD generally accepts the highest bids or a bid that nets them the highest net amount. A word of caution, if you are bidding over the listing/asking price the amount you over bid will have to be brought to closing as additional amount. For example if the home is listed at $90,000 and you bid $98,000 and your bid is accepted, you will have to bring to closing the additional $8,000 plus your closing costs.

So you found the home you would like to bid on, you will need a real estate broker to submit the offer for you. Make sure that the broker/real estate off is approved by HUD.  The bids are done online and once that offer has been accepted, then the paperwork and you earnest money must be turned into the HUD office within 48 hours after acceptance. Once the contract is accepted then you have 45 days to close on the property. If you do not close within the 45 days you can lose your earnest money.

7. How much earnest money is required?

Homes price $50,000 and below earnest money is $500.00, homes priced $50,001 earnest money is $1,000.00.

8. Can I get a home inspection on the HUD home?

Absolutely, you should do a professional home inspection on every home you purchase.

9. Can I purchase a HUD home as an investment?

Sure, bidding is opened up to investors after the initial bid period and when no bids have been accepted.

10. Does HUD offer any special programs?

They do, right now they are running a $100.00 down program. This program is for owner occupants who submit a full price offer and use FHA financing.

There is also a program “Teacher Next Door and First Responder Next Door” this program is open to teachers, police, and fireman. There are also programs for non-profit agencies.

I hope I’ve covered the general information regarding HUD homes and that you find this post helpful to you.

Until next time!

Ruth Cullis

NEW BANK-OWNED LISTING NOTIFICATION!

Dear prospective Buyer,

My name is Ed Harrigan of Bank of America Home Loans in Conway, NH.  I have partnered with Bill Barbin of Badger Realty in North Conway, NH to assist him and his clients with bank-owned real estate transactions.  Bill is an REO expert and works closely with numerous mortgage lenders to market their foreclosed inventory, including Bank of America Home Loans.  In today’s market there are many buyers in search of a deal.  Timing is critical when a property is priced to sell, which means you need to be up-to-date on current listings before they are gone.  As a value added service to Bill Barbin’s clients, I provide regular notifications on newly “listed” foreclosure properties.  If you see a foreclosed home or any other property that interests you, be sure to call Bill Barbin for full details.  His contact information is below.  When it’s time to make an offer on the right property, Bill will work closely with you to ensure a smooth transaction.

Sneak Previews

29 CHAMPNEY ROAD
NORTH CONWAY,NH 03860  3 bedroom 1 bath Bank Owned Ranch in the heart of North Conway on a quiet dead end road. 1 car attached garage. Deck. Fair Condition

Price: TBD – not yet listed for sale

Click hereto view listing:  (Here I will put a hyperlink to NNREN so that your client can simply click on the link to view the property)

6 KRISTIN LANE

BARTLETT NH 03812  4 bedroom 2 bath foreclosed home with 2 car attached garage. Corner Lot. Views. Poor Condition

Price: TBD – not yet listed for sale

89 RYDER ROAD

CAMPTON NH 03223  3 bedroom 1 bath Bank Owned Chalet on approx. 3+ acres with a large unfinished garage and a large unfinished stable/barn. Very Private Location near Plymouth. Poor Condition

Price: TBD – not yet listed for sale

If you have an interest in any of these properties contact Bill Barbin at 603-986-0385 for information on how to be ready when the price is set and the property hits the market.

CURRENT LISTINGS

71 DRAKE ROAD

EFFINGHAM NH 03882  8 Room 4 bedroom 2 full bath foreclosure Antique Cape with small attached barn/workshop and carport. Beautiful 1+/- acre lot. Good Condition

Price: $164,900   Days on Market: 6

7 MAIN STREET

FRYEBURG MAINE 04037  5 room 3 bedroom 1 bath Bank Owned Cape on just under 1 acre on Rt. 302 in Fryeburg ME. Fair to Good Conditon

Price: $109,900   Days on Market: 6

69 CHASE AVENUE

CONWAY NH 03818  6 room 3 bedroom 1 bath home on just under 1 acre. First Time Buyer approved. Deck w Hot Tub, New Foundation Footing. Very Good Condition

Price: $129,900   Days on Market:118

73 HILL ROAD

CONWAY NH 03813  7 room 3 Bedroom 2 Bath Foreclosed Property New Construction Colonial on over an acre. Within 200+/- yards of Conway Lake. Good Condition

Price: $255,000   Days on Market: 114

92 FOX ROAD

MADISON NH 03849  8 Room 4 Bedroom 3 Bath Bank Owned Home on over 4.5acres near King Pine Ski area. Minutes to North Conway. Built in 2004. Fair to Good Condition

Price: $239,900   Days on Market: 23

For information on any of the above listings call:

Bill Barbin

Badger Realty

Office: (603) 356-5757

Cell: (603) 986-0385 *BEST*

Email: Bill@BadgerRealty.com

Visit Bill on the Web:

www.BillBarbin.com

ARE YOU LOOKING TO FINANCE YOUR TRANSACTION?

If you are looking to finance your transaction it is important that you obtain a pre-approval from a mortgage professional that understands this market and can provide you with fast, professional service.  Many banks won’t even review your offer without a pre-approval. As a local mortgage professional I am familiar with the demographics of this market.  In addition, I understand the intricacies of purchasing a bank owned property. I am available nights and weekends to provide you with a free pre-approval letter and credit analysis.

IMPORTANT NOTE:

If you are seeking to make an offer and need financing on a Bank of America owned listing, a Bank of America Home Loans pre-approval is required to submit your offer.  However, you are NOT obligated to use Bank of America Home Loans.  You are free to choose whichever lender you wish to provide financing.

Sincerely,

Hi glad you’re here.

to the blog world but I intend to stay awhile.

As titled this is primarily about foreclosures.

What happened.

Why so many.

Who did it.

How this affected the market and how you benefit and help others do the same.

http://www.capitalizeonforclosures.com/

I’m really not sure how much content I can get into a blog but I’m sure I can get enough into it to help you understand why and how.

Why it happened? I’m gonna break it down to you in the easiest terms I can.

OK here it goes.

A bank is usually a for profit company which trades company stocks in the stock market. You have all heard of that. So what does that mean?
Well there is a board of directors at the bank who’s primary goal (job) is to make sure the value of the bank goes up so that stock values go up, so that stock holders and investors invest more money. Usually the bank itself owns the controlling share of the stock. (most of the stock)

If the profit of the company (bank in this case) goes up so does the value of the stocks being sold. If the profit of the company plateaus (does not go up or down) or the value of the bank goes down so goes their stock and a lot of very well paid very well to do administrators jobs are on the line. They don’t want that for themselves. They want that for you.

So that being said lets move on. You open an account at a bank.
You assume you’re the customer and by definition you are.
However don’t get to comfortable yet. You will be treated like a customer. They will help you with your needs, to some degree. But the fact is you simply provide them with collateral (your cash, your home, your car, boat and anything else you finance).

So your bank loaned you $75000 to buy a house. Believe me that did cost the bank $75000 in real money! You now have a mortgage for $75000. The bank then can say this mortgage is $75000 by the time it is paid off at 12% interest over 30 years the bank will make $300,000 and some change give or take a few grand. So the bank value increased from $75,000 to $300,000. On paper this is a  400% increase in value.
Now that’s not bad anyway you slice it.
Here’s the catch, the payments have not been made yet so in reality that $300,00 is in your pocket not the banks.
So how does that work?

Easy    $75000 x interest = $300,000         bank up 400%
$75000 x interest = $300,000         You down 400%

Bank stock up your stock down.

So the bank is still initially out $75000 but their value went up 400% and so did their stock. They sell the stock at their new value and cash in.
And you haven’t even made your first mortgage payment and they’re already paid  Bustin’ your chops about where’s your mortgage payment.

So that’s all cool fine and all that. You’ve got your house they got their stock value and all is well with the world.

So what went wrong? Oh the economy that’s right. Trust me the bank instigated a good portion of that but I’ll get to that another time.

Here’s what went wrong. Your financial institution couldn’t afford for their stocks to stabilize or go down or their stock holders would sell their stock and buy somebody ellse’s stock and the bank just can’t have that.

So they got a little creative. By increasing the value of properties owned, they could raise their value by the same amount.

And a real estate value inflation started in proportions that know one had ever experienced.

Then your Financial institution, the people most of you tried to trust with important financial matters and to help with financial matters decided it was your job to decide where to invest your money. Where you should draw the limits, which financial decisions were best and pretty much took an, if you don’t know better neither do I approach to your finances.

Hmm Kinda like telling an electrician that you lost power to your TV and she just stands there (getting paid by the hour) and waits for you to tell her the right thing to do to restore power. And then after many hours of waiting, charges  you $5000 and then sends so much power to your Tv it blows up all your power and then charges you another $50,000 to stand there and do it all again.

And this my friend is where all these foreclosures started to come from.
I intend to go into this in further detail at a future date.

Is there anyway for us and ours to benefit from this? Well yes.
At this point banks have so many properties from foreclosures that they are starting to look more and more like a realters office and less and less like a bank. Not only that, if they don’t have a mortgage holder (homeowner) paying the mortgage then their $300,000 profit from their $75000 loan is gone and so is their  $75000.

What does this mean? Well first it means people are loosing their homes and being thrown into the streets at a record pace.

Next it means                        $300,000 minus $300,000 = 0
$75000 minus $75000 = 0

Where there use to be $75000 now there is nothing. Stock value just dropped $75000.

I am going to get into this at again sometime.

So where do you and yours profit?

Well I’m gonna tell ya’.
Go get these houses. Believe you me, the bank will thank you later.

Move out of your apartment and get a house!
Help your friends and kids do the same!

I bought a real estate course about 15 years ago written by a man named Carlton Sheets. I gave that collection of cassettes to my sons mother 2 years ago. Ya that’s right. I kept, valued, and used those tapes and that book for over 12 years. It went for about $400 back then.
I intend to get into this at another time also.

The single most valuable thing that Sheets taught me was If you have a renter that has come on hard times and cannot afford to move out RENT A TRUCK !!!!!!!
You cannot believe the relief of the people that I have done this for over the years for this one thing.

I have compiled an online course (you can upgrade to dvd course) that is absolutely tops in getting you the information you need.

goto

This course cost me well over a thousand dollars to produce by the time I got it online. But that’s not important. Your important.
This stuff will help you! I guarantee it.

http://www.capitalizeonforclosures.com/

Is there money in this! The answer is oh yes. More money now than ever before.
So go to my website spend your dollar. If you cannot get $97 worth of quality information out of it in one week let me know.

• A d v e r t i s e m e n t
• 

A new law passed by the Arizona Legislature that makes homeowners liable for tens of thousands of dollars on homes lost to foreclosure is now the focus of an intense repeal battle.

An amendment to the state’s foreclosure laws, passed in the recent legislative session, was designed to protect small community banks from people buying speculative new homes they can’t sell for a profit.

But the impact of the change is much larger. It makes some homeowners in foreclosure liable for the difference between their mortgage and what their lender can recoup from reselling the house. In the current housing market, the difference is generally more than $100,000 on the typical Valley foreclosure.

Read entire article

URL to article: http://www.infowars.com/arizona-law-holds-the-foreclosed-responsible-for-debt/

Beware of pools behind foreclosed homes

July 8: Pools behind foreclosed homes can be dangerous for curious children. NBC’s Kerry Sanders looks at how the foreclosure crisis can be more than just a financial nightmare.

Sick of living in the same boring home and want to spice up where you live? You can now own this Miami FL condo is ideal for what you are looking for. With spacious great two bedrooms and one bathroom and now can be yours for a small price of $79,000, condo with carpet floors and private parking for one established in 1972. Located in the most known city in the USA, Miami, Florida, which represents the very best in fashion, urban life and energy, a dynamic center for international business, art and avant-garde design, good restaurants and spectacular weather, the best place to relax and have fun with friends. A city of energy that it’s diverse population that represents America. We have multi cultural that brings up all the best food there is to eat, clothing trends, and music and much more. Latest survey shows that Miami is one of the top 5 places visited by tourist all over the world. Florida condos foreclosures.

Miami Florida has been associated with wealth and prestige… Blessed with year-round mild climates and unrivaled ocean access, America’s southernmost resort city is also a sought-after international recreation destination. Ranked the nation’s #1 Healthiest City by Natural Health Magazine in 2002, I bet is hard now in times to find a place where you can sit down and read a book or just listen to music where you would travel to a place where know one has to talk about money or the harsh times. Because that is what Miami is all about you can go to many places and dance, sing, shop, eat, etc… where you can disconnect from your every day life. The beaches are amazing from 16 different beaches in Miami: Bal Harbor Beach, Bill Baggs State Recreation Area, Crandon Park Beach, Haulover Beach Park/Nude Beach, Hobie Beach/Windsurfer Beach, Homestead Bay front Park, Miami Beach — Mid Beach, Miami Beach — North Beach, Miami Beach — South Beach, North Shore Open Space, Oleta State Recreation Area, South Pointe Park, Sunny Isles Beach, Surfside Beach, Virginia Key Beach — north, Virginia Key Beach — South. Florida condos foreclosures.

Miami Florida has been associated with wealth and prestige… Blessed with year-round mild climates and unrivaled ocean access, America’s southernmost resort city is also a sought-after international recreation destination. Ranked the nation’s #1 Healthiest City by Natural Health Magazine in 2002, Did You Know? Miami Beach’s Art Deco District contains the world’s largest collection of Art Deco Architecture (800+ buildings) Travel Channel ranked South Beach as one of Top 10 Best Beaches in the World. Luxury Miami condo sales continue to grow because over thirty percent of our buyers are coming from overseas and the retiring baby boomer generation is still buying second homes here.

There is plenty to do in Miami, from nightlife heading for clubs and having a blast or going to elegant restaurants with the family or a love one. To the Miami Metro zoo, seaquarium, beaches, Everglades, Miami Museum of science, parrot Jungle Island, monkey jungle, coral castle and No visit to Miami is complete without a stop at the historical 50-acre Vizcaya estate. This European-style mansion offers a glimpse at life in turn-of-the-century South Florida. It\’s also an extremely popular venue for galas, weddings and other entertainment events. There is plenty to do and love in Miami, Florida. That is why is a hit in selling and owning homes in Miami, every one wants to live the life.

For more information please call USA Lending and Realty “UR-COUSIN” Emile at-(305)-754-1000

For similar properties like this click the following:

IstithmarUSA|USALendingandrealty |Propiedadparalaventa|Miamibusiness|UsaLendingInc |AviationBusinessforsale.com|UR-COUSINTravel.com

Want to find the next great deal?…thinking about buying a foreclosure or short sale property?  Before making an offer you need to know what the situation is…is the seller behind on payments?  How many mortgages are on the property?  Has the bank already ordered and Appraisal/BPO?  and the list of questions could go on.

Find out if the property is a short sale or a foreclosure, there is a difference.  A short sale is where the lender is agreeing to accept less than the full amount owed to them by the home seller.  A foreclosure is actually where the bank has foreclosed on the property and is now the owner of the property.  Did you know that banks don’t actually want to foreclose on property?…they are actually federally mandated to keep reserve funds in the amount of 2 to 8 times the amount of the value of the property (so if the property was worth $200,000 then they would have to keep $400,000 to 1.6million in reserves until that property is sold), no wonder it’s so hard for some of these lenders to loan money. 

If you want to purchase a short sale you’re going to have to :

• Make sure you are ready to wait…banks can take a long time to respond to your requests to approve a short sale
• Make sure you have your financing ready to go…banks would prefer to work with cash buyers that can close quickly
• Keep as many contingencies out of the offer as possible, lenders don’t want to wait for you to get inspections and then wait even longer to get financing.  Once, they approve your offer you generally will only have 30 days before you have to close on the home.

Make sure you have a competent real estate agent on your side.  Ask them if they have their CDPE designation?  The CDPE is a certified distressed property expert.  Not many agents have the designation and can kill a deal if they don’t know what they are doing.    If you’re going to be making offers on short sale properties make sure you are ready for the bank to ask you to take the property as is, the banks are already losing money on the home and aren’t always willing to give seller concessions, it’s all a number game.  Qualified agents should be able to talk to you about how banks work.  If you have some questions on what lenders are willing to accept and what type of terms please feel free to contact me at tjvitense@kw.comI have obtained the CDPE designation as well as completed a number of other courses on how to handle lenders and buy short sale properties.  I’ve established contacts at over 80 different banks and understand the process.  CLICK HEREfor a link to my blog.  For access to my website please CLICK HERE and you can search property all over Dane County and the surrounding areas and even build your own search for property.

Neighborhood Stabilization Plan funds are available for down payment assistance or for purchase or rehab on foreclosed/vacant homes.

The following parameters are for Down Payment Assistance:

• $12,500 NSP incentive based Down Payment assistance
• $15,000 NSP needs based Down Payment assistance based on 28% front end ratio
• 0.0% Deferred loans
• If loan is for less than $15,000, then 5 year affordability period
• If loan is for $15,000-$40,000, then 10 year affordability period
• If loan is for over $40,000, then 15 year affordability period
• Loans will be a forgivable deferred loan
• If the home is sold, refinanced, or becomes non-homestead during the affordability period the loan will be repaid at a prorated amount
• Home must be foreclosed, vacant home in a targeted neighborhood

The following parameters are for Purchase Rehab:

• $30,000 maximum
• Used to make necessary improvements to property
• 0.0% Deferred loans
• If loan is for less than $15,000, then 5 year resale affordability period
• If loan is for $15,000-$40,000, then 10 year resale affordability period
• If loan is for over $40,000, then 15 year resale affordability period
• Loans will be a forgivable deferred loan
• If the home is sold, refinanced, or becomes non-homestead during the affordability period the loan will be repaid at a prorated amount
• Home must be foreclosed, vacant home in a targeted neighborhood

For more information on this or other home buying information Click Here to visit my website.

I know what you’re thinking…and no not all distressed properties will look even close to this bad.  Are there some properties that you might be better of just bulldozing over?…probably, but that doesn’t mean that you wont be able to find a great deal on a home that has little to no work at all needed before you actually move in.  CLICK HERE for a list of all the distressed properties in Dane County as of this posting.  If you’d like and updated list just email me at tjvitense@kw.com and tell me what areas and prices ranges you’d like the list to be in and I will email that out to you right away.

Foreclosures and short sales are at an all time high, interest rates are extremely low and with the potential for and $8000 tax credit on your taxes if you buy a house this year why wouldn’t you consider buying a home right now?….Maybe you think that prices will fall even more?  While I can see someones concern with this possibility, if we lived in one of the markets that prices inflated by 200% or more in some cases I could see your concern.  But, Dane county never saw these huge spikes in price like Las Vegas, Phoenix, Florida, and California did.  We have seen prices steadily climb on homes over the years, and just recently they have in some areas slipped and lost value, but only a small percentage.  There hasn’t been a better time to buy than there is right now today! 

You like discounts and sales right?…well most of these distressed properties can be bought for discounted prices, they are on SALE, if you are in the market for a home you should considered taking a look at some of the distressed properties in your area. 

When talking about distressed properties in this post, I don’t mean run down homes, I mean homes that are either in trouble financially and are going to be foreclosed upon or homes that the bank has already foreclosed on and are now bank owned properties. 

Real Estate is having one of the biggest sales of a lifetime, don’t miss out on this opportunity.  However, I don’t mean to tell you and go out and foolishly buy something, not everything out there is a great deal.  Do your homework, and make sure you are working with a competent real estate professional and go find your next home, or investment property while this sale lasts!

CLICK HERE to visit my website.