Home Buyers - Why Use Our Real Estate Services
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Average sold property in Solano County is about $275,000. If you had a $275,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $275,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without professional assistance.
The current housing market is in turmoil. 1 out of 7 mortgage holders are either behind on payments or are in some form of foreclosure. The economy is upside down. The housing market has definitely changed in the past couple years. As of July 2010 there are approximately 3053 Active or Pending Single Family Homes and Condos for sale in Solano County. Of those 3,053 Homes for Sale 2,255 homes/condos are either in foreclosure, Bank Owned, or listed as a short sale. This is almost 75% of the inventory.
Back in 2007 when the market was considered normal (although property values overpriced) 2,699 homes/condos sold in Solano County. Of those sold only 264 were bank owned and 52 were short sales. Back then only 12% of the home sales were distressed property sales.
The market has changed.
So why use us to help you buy a home?
1. Experience
Prior to the home market collapse, we had the distinction of being the #1 agent team for Coldwell Banker Solano Pacific for 2006 thru 2009 and Coldwell Banker’s prestigious Presidents Circle Team designation for 2008 and 2009. We also hold the designation of the #1 team for Solano Association of Realtors for 2007 and 2008.
Due to the market shifting to more REO and Short Sale business, we moved much of our focus and attention to representing buyers and sellers of distressed properties. In the past 2 years, we've represented over 100 bank owned homes and short sales. We've worked with many asset companies, their managers, and their clients. We've represented many buyers and we know the process and can help you with your home purchase
2. Training
In addition to ongoing real estate courseware to stay current with our Department of Real Estate (DRE) licensing, we've completed a number of courses that are specifically created for the default industry (REO Bank Owned Homes/Short Sale).
RDCpro and Advanced Evaluations Designation
REO Best Practices is an online course that provides an in-depth overview of how to manage a real estate owned (REO) property. This interactive online course gives brokers and agents all the information they need to begin a career in the REO industry. In addition, seasoned REO brokers and agents benefit from the comprehensive nature of this course.
Advanced Evaluations is an intensive online course focused on the details of completing accurate, quality evaluation reports, also known as broker price opinions (BPOs). This multi-media course challenges even the most experienced REO brokers and agents with its in-depth case studies, interactive lessons, and comprehensive quizzes.
Certified Distress Property Expert
A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.
The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.
While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs.
Pre-Foreclosure Specialist Certification
The Partner First PSC certification is not your average Short Sale Training Certification. Comprised from 5 of the top minds from all corners of the pre-foreclosure industry as well as countless feedback, objections, and input from the nation’s top banks, lenders, and servicers, they have created and refined a well-planned, easy-to-use, powerful education tool for the pre-foreclosure industry.
Topics Covered - Tax Ramifications for Short Sales, Recourse Loans and Non-recourse Loans, Deficiency Judgments, What is Loss Mitigation?, Loss Mitigation – The Short Sale Package, Loss Mitigation – The Concept, Loss Mitigation – The Department, 8 Fast Facts about Loss Mitigation, Getting to “Yes” – What Does “Yes” Mean?, Lender Servicing Loss Mitigation Phone Contact List, Short Sale Pricing Guide, The Real Estate Commission, Entering Listings into the MLS, Handling Short Sale Offers, Managing the BPO Process, Representing Buyers in Short Sales, Short Sale Listing Agreement Verbiage, Fannie, Freddie, and FHA Short Sale Guidelines.
3. REALTOR®
Do you know the difference between a fixed-rate mortgage and an ARM? How about a conventional loan versus and FHA load? These are just a few of the things you need to understand before applying for a mortgage loan. Because of increased competition in the lending industry, there are more types of home loans today than ten years ago. The key to success when choosing a mortgage is to consider your long-term plans and find a loan that matches those plans. To do this, you must learn the pros and cons of the primary loan types.
4. Get Pre-Approved for a Loan
Pre-approval is a process in which the mortgage lender reviews your financial and credit history to
