With the LOW inventory of homes for sale in Elk Grove, I’m even more excited for this new short sale!  5887 Bishops Cap Ct. is in a fantastic location on a quite court.  It has room for everyone with 5 bedrooms, 3 baths, and 2,658 square feet.  The 3 car garage and lots of interior upgrades are icing on the cake.  All this for $240,000!

This Elk Grove short sale is with Bank of America and Patelco.  Because they are the largest bank, Bank of America sets short sale standards for other banks.  They are constantly evolving their short sale process and are now promising quicker response times on offers and counter offers.  If you are thinking about selling your Elk Grove home as a short sale, it’s important to use an experienced Elk Grove short sale agent.  Agents with little short sale experience are unfamiliar with new changes and standards in short sales.

See if you qualify to sell your Elk Grove home as a short sale.

Short Sale Elk Grove – 8557 Bishops Cap Ct

Posted by Elk Grove Short Sale Agent – Allan Sanchez

We may have just seen the bottom of the real estate market with my most recent Rocklin sale.  5756 Terrace Drive was a bank owned home that just closed for $165,000.  With 3 bedrooms, 2 baths, and 1,577 square feet, this home is priced just under $105 per square foot! Even considering this home was a bit of a fixer, it’s a great deal.  The average price per square foot in March 2012 was $141!

While this Rocklin home was in escrow, the inventory of homes on the market shrank and prices started to creep up.  When it closed, I comped the neighborhood.  It’s easily worth $180,000 today not doing anything at all.  Spruce it up with $10,000 in cosmetic repairs and it’s probably worth $195,000 right now.  It just closed last week!

There isn’t a bell that chimes when the market hits bottom.  In retrospect, can see the market’s ups and downs.  It is very likely that February/March 2012 will be the bottom the real estate market and we are now on the up swing.  However, the huge question market is the banks.  Are they going to continue monitoring the flow of foreclosures they release into the market, controlling the inventory of homes and keeping prices higher?  Or, will they release more foreclosures this year, flooding the market with homes, and reduce buyer competition? Will more notices of default be filed by the banks which encourages more Rocklin short sales?  No one knows for sure and there is a lot of speculation.

We may have seen the bottom of the real estate market or we may see further price declines if the bank releases their shadow inventory of homes!  The next six months will be very interesting.

Rocklin Real Estate Agent – Did We Just See the Bottom?

Posted by Rocklin Real Estate Agent – Allan Sanchez

Folsom is one of my favorite favorite areas to help people buy and sell homes! With Folsom’s beautiful scenery, top-notch schools, lovely homes, and great shopping, it’s a must see for many home buyers.

Here are the most recent real estate conditions from Folsom real estate agent, Allan Sanchez:

• Current Homes for Sale- 84 Homes for sale
• Homes SOLD in March - 69 Homes
• Average Sales Price – $333,000
• Average Price p/sqft. – $154
• Inventory – 1.2 Months

Here are my most recent Folsom sales:

• 348 Caples Drive
• 1212 Newmark Way
• 1572 Thurman Way
• 242 Briggs Ranch Dr. – Newly Listed!

Short sales continue to be a major player in the Folsom real estate market. In March, 36% of all homes sold were short sales.  Short sales are very different from traditional sales.  If you are thinking about selling your home, it’s best to work with a Folsom real estate agent with extensive short sale experience for the best chance at an approval.

Find out the value of your Folsom home!

Folsom Real Estate Agent – Allan Sanchez

Posted by Folsom Real Estate Agent – Allan Sanchez

Part of being a Roseville short sale expert is adapting to the ever changing short sale process. I’ve sold over 100 Bank of America short sales and REOs and know how to negotiate with them, submit a complete short sale package, and get approvals for my short sale listings.  However, most Roseville real estate agents have no idea what to do with a Bank of America short sale. Bank of America is going nuts trying to help these agents along.  Often everyone gets frustrated and quits.  That’s why Bank of America is changing their short sale process in the hopes of simplifying short sales.

I wonder how many Roseville real estate agents will do their homework and learn Bank of America’s new short sale process? Changes include new paperwork and forms, new tasks for the short sale agent, and stricter time lines.  The good news is that Bank of America will give a response to offers and counteroffers within 3 business days.  That’s great news for buyers and sellers.  However, Bank of America can only give approvals once they have everything they need from the short sale agent.  Make sure you’re working with an experienced Roseville short sale agent for the best chance at short sale success.

See if you qualify to sell your Roseville home as a short sale.

Bank of America Short Sale Roseville – New Changes

Posted by Roseville Real Estate Agent – Allan Sanchez

Check out my newest house for sale in Folsom! 242 Briggs Ranch Drive is an attractive one-story with a 3 car garage and RV access.  It has 4 bedrooms, 2 baths, and almost 2,100 square feet.  The yard is larger than average at .31 acres.  With the inventory of homes for sale in Folsom at a low, this home is going to be very popular at $375,000!  Plus, it’s a traditional sale…no waiting for a short sale approval!

Call your Folsom real estate agent for a tour of this Briggs Ranch home!

Folsom home inventory is the lowest it’s been since 2005. This is creating a mini seller’s market with multiple offers, competitive buyers, and full price+ offers.  With banks expected to release their shadow inventory of bank-owned homes later this year, there is a small window of opportunity to sell your Folsom home at the best time for sellers in a long time.  Find out the value of your Folsom home.

242 Briggs Ranch Dr. – Folsom Home for Sale

Posted by Folsom Real Estate Agent – Allan Sanchez

Rocklin home prices are the highest they’ve been in two years! New stats show what I’ve been talking about for the last couple months.  Rocklin home prices are up to $136 per square foot  That’s over 12% more since just last month!

The reason Rocklin home prices are up is because we are in the midst of a mini seller’s market. Inventory is the lowest it’s been in many months.  The low inventory creates competition, multiple offers, and higher prices for sellers.

Does this mean that Rocklin has recovered and home prices will stay up? Probably not.  Last year the banks held back most of their foreclosure inventory and didn’t initiate foreclosures on thousands of homeowners behind on their mortgage.  Experts say this year, the banks will release a lot more inventory.  There is soon to be more bank owned homes on the market as well as short sales from sellers who want to avoid a foreclosure.

These higher Rocklin home prices are probably short lived. If you’re thinking about selling your Rocklin home, do it now before higher inventory drives values down.

Find out the value of your Rocklin Home.

Are Rocklin Home Prices on Their Way Up?\

Posted by Rocklin Real Estate Agent – Allan Sanchez

Take a look at my newest Elk Grove short sale. As an Elk Grove short sale agent, I’ve worked with many banks with all kinds of situations.  This is my first CalVet short sale.  Some people believe that it’s not possible to short sale a home with a CalVet loan.  Recently CalVet has been more open to short sales as they understand that all real estate has taken a big hit and CalVet loan homes are no exception.

CalVet short sales in Elk Grove are uncharted territory. I’m excited to jump in head first to see how CalVet short sales differ from traditional short sales.  Check back as I update you on my progress!

See if you qualify to sell your CalVet home as a short sale.

Read more about CalVet loans and short sales.

CalVet Short Sale in Elk Grove – Are They Possible?

Posted by Elk Grove Short Sale Agent – Allan Sanchez

Take a look at this well maintained, one story home, in the gated Lakeside neighborhood of Laguna. 9488 Windrift Lane has newer carpet, tile floors in high-traffic areas, and custom paint.  The living room has a fireplace and the kitchen has newer appliances.  In the backyard you’ll find a relaxing patio and mature landscaping.

Check out the Details:

• $160,000
• 3 Bedrooms & 2 Baths
• 1,397 Square Feet
• 2 Car Garage
• Built in 1995
• Stucco Exterior
• New Carpet in 2011
• Tile in the Common Areas
• Bathroom has a Marble Countertop
• Cute Backyard with Patio.
• Wonderful Location in Gated Neighborhood

With the low-inventory of homes for sale in Elk Grove, this one is sure to sell fast. Email or call me, Elk Grove real estate agent-Allan Sanchez, to view this home.

Read more about buying a home in Elk Grove.

9488 Windrift Lane, Elk Grove CA 95758

Posted by Elk Grove Real Estate Agent – Allan Sanchez

It’s been the real estate buzz for a few months now. Where’s all the Rocklin home inventory and where did all the foreclosures go?  It’s turned into a mini seller’s market lately as inventory has significantly dropped…down 33% from last year.  Buyer’s are in a frenzy.  Multiple offers on all of my listings and sellers are getting at or over list price.

Foreclosures in Rocklin and the rest of California have been stalled while banks held back foreclosures during their robo-signing settlement. Now, that California has settled, foreclosure starts are up 28% in January as reported by Lender Processing Services.  Inventory will again rise as these foreclosures turn into bank owned listings and more Rocklin seller’s start the short sale process.

What does this mean for Rocklin home buyers are sellers? If you’re trying to buy a house in Rocklin but not having much luck, hold tight!  More inventory is coming and there will be less competition.  Make sure you are working with an experienced Rocklin real estate agent who knows how to make your offer look attractive and get accepted.

If you are thinking about selling your Rocklin home, now’s the time. Take advantage of this small window of opportunity with less competition to sell your home before foreclosure competition decreases values and the number of buyers interested.

If you are behind on your mortgage payments, you may be part of this new foreclosure wave. Consider a Rocklin short sale. A short sale will stall the foreclosure and give you more time to stay in your home.  You may get move-out assistance and a short sale is less damaging to your credit.  You’ll be able to buy a new house much faster after a short sale than a foreclosure.  See if you qualify for a Rocklin short sale.

Read more about the new wave of foreclosures.

New Rocklin Foreclosure Wave?

Many people think that you can’t short sale a home with a FHA mortgage. In fact, you can!  Take a look at this FHA short sale I just sold in Elk Grove.  4809 Noriker Drive had a FHA loan with Bank of America.  This is a lovely 4 bedroom, 2 bath home that closed for $185,000.

FHA short sales are different than typical short sales. Elk Grove short sale agents can get a FHA pre-approval with a pre-approved list price BEFORE listing the house on the market.  Once, FHA gives their pre-approval it’s pretty easy to find a buyer.  The agent will submit it to the bank and it takes about 30 days to get the short sale approval.  This eliminates the long wait times by buyers and lessons the chance they will get discouraged and move on to another property.

Elk Grove short sale sellers can also get move-out assistance with FHA short sales. In this case, the buyer got $1000 for participating in the short sale…not bad!

Elk Grove short sales, especially FHA short sales, are very different from traditional sales. Only Elk Grove real estate agents with short sale experience understand how to negotiate with the bank, submit a complete short sale package, and secure a short sale approval. Unfortunately, some agents attempt short sales without realizing it’s a specialty.  They end up going nowhere and wasting the seller’s valuable time, often costing them the opportunity to short sale.

See if you qualify to sell your Elk Grove home as a short sale.

FHA Short Sale Elk Grove – SOLD by Short Sale Specialist Allan Sanchez

Posted by Elk Grove Real Estate Agent – Allan Sanchez