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Ysolette
Ysolette Nicoson
Real Estate Consultant
    Years of Experience: 13

    ABR - Accredited Buyer's Representative
    CRS - Certified Residential Specialist
    GRI - Graduate of Realtor Institute
    CDPE - Certified Distressed Property Expert

Direct: 951-255-3110

Office: 951-255-3110



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Keller Williams
1385 Old Temescal Road
Corona, Ca.
951-255-3110


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Riverside Short Sales

Short Sale Relief!

Wednesday, September 21st, 2011

There is great relief for those in a short sale position due to a recent law that has passed that keeps the lienholder from filing suit against the homeseller for the amount outstanding (deficiency).

Once a lienholder has agreed to accept a payoff for less than the loan amount – the difference is called a deficiency.  The new law protects the homeseller in a short sale situation by not allowing a deficiency judgement to be filed against the homeseller.

More information in regards to the specifics can be found at the link below:

Short Sale Deficiencies Fact Sheet

How can you avoid foreclosure and get money too?

Friday, August 26th, 2011

There are many people facing potential foreclosures in today’s economy.  You may be facing some financial challenges or know someone that is struggling to make payments on their home?

Do you know how to avoid foreclosure AND potentially get some money back in your pocket?  There is currently a program in place that provides some relief to short sale sellers by allowing them to collect $3000 upon closing of a short sale property to help aide them in their transition out of the house.  It is called the HAFA program.  As with any programs, the home seller does have to meet certain requirements.  Please click on the link below to see the video for more information.

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Why sell NOW???

Wednesday, September 22nd, 2010

 

Why not sell now?  It is a great time to buy, but in this market – it can also be a good time to sell!

First of all, inventory is somewhat low.  Currently in the Riverside area, there are only 32,879 single family homes and condos currently for sale.  While the number of homes is higher than Sept. 2009 – at 27,493, it is still lower than the previous three years with Sept. 2008 – at 48,794, Sept. 2007 – at 59,183 and Sept. 2006 – at 47, 561 (statistics provided by www.housingtracker.net).  That means for today’s homeseller, there is not many homes to compete with.  It is more likely that a well cared for property that shows well and is priced well will sell in today’s market.

Secondly, today’s homeseller in a standard sale position is at a better advantage than those homes in a sacrificed position, such as a short sale.  Any buyer out there that is willing and able to move quickly will not consider a short sale due to the timely process in negotiating with the bank.  In addition, a standard sale property is more appealing when the home and landscaping is maintained in comparison with a foreclosure property with a whole yard of “dead grass.”  That being said the current standard sale inventory is lower than the short sale and foreclosure inventory, putting the standard sale homeseller in a better position.

The third point is that it is the best time to buy in years!  Today’s homebuyer is well armed with the best interest rates the housing market has seen in 30 years and with excellent  homebuyer program opportunities.  Riverside County as well as many other areas throughout the nation are offering incentive programs to help people become homeowners.  There are many diverse and enticing programs that can put today’s buyer in a home who may not have afforded one in a market with higher interest rates or a lack of buyer programs.  Take advantage of the market as a seller and put your home in a position to be chosen.

In addition, leveraging equity in homeownership can be done in this market.  Now may be the best time to move up or move down.  A smart homeowner can recognize that they may not gain as much profit on the sale of the current home, but the reward is in taking advantage of today’s low interest rates.  Thus leveraging the equity of the current house by the future equity in the next house.  The affordability factor is greater now than ever to make lifestyle changes that can potentially have excellent long term benefits when the market fully recovers.

Finally, putting a home on the market in the 4th quarter takes advantage of the serious buyers.  It is good to know that while your house is on the market through some of the holidays, the only people coming through at this time of year are the buyers that are serious about making a purchase.  So, although the number of showings you have as a seller may be lower at this time of year, the showings you are having are buyer’s who are serious about homeownership.

Do you have a pending foreclosure in Riverside, Ca?

Friday, August 20th, 2010

The U.S. Treasury Department offers the Home Affordable Foreclosure Alternative (HAFA) to those who are 30 days delinquent or more and who have had a loan in place on January 1, 2009 or PRIOR to that.  The program is intended to aide homeowners from negative credit affected by a foreclosure, by allowing the homeowner to short sale the property in cooperation with their first lien mortgage.

Homeowners need to have applied first for the Homebuyer’s Affordable Mortgage Program (HAMP) – a loan modification program – which is designed to reduce delinquent homeowner’s payments.

The HAFA program does not protect the homeowner from the loss of their property, but it enables them to avoid the foreclosure with assistance of $1500 in relocation costs and $1000 servicing bonus to the lender.  The program has eligibility requirements which include a home loan balance of $729,750 or less and monthly payments that are 31% or more of gross income, and a property that is owned as the principal residence.

I have recently completed an extensive class in short sale and foreclosures.  If you are in need of more information in regards to the short sale process and other programs that may benefit you – please let me know.  I’m here to help any way I can.

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