Archive for July, 2010

Potential short sales to bankruptcy?

People think that a bankruptcy will cleanse them of their debts. That is a myth. Here is why. Yes, it’s true, that a Chapter 7 Bankruptcy will release a debtor of all debts. The problem is that most of the bankruptcy laws were changed in 2005. This law makes it much harder to file a Chapter 7 bankruptcy.

Now the judges have to steer debtors towards a Chapter 13. What does a Chapter 13 bankruptcy mean? It means that a debtor will have to repay part (if not all) of their debts. In addition, the debtor has their finances managed by the bankruptcy trustee. And, the debtor has to pay that trustee!

If a person just stops paying their debts, then they can actually pay less money than they would with a Chapter 13 bankruptcy. Let’s face it. The people who handle bad debt are so disorganized. Yes, it’s very similar to how a “servicer” handles a third party loan. Most big companies don’t have the stomach to do the hard work of collecting money. That is why they farm that hard work out to a collection agency. What does the collection agency do? They just call the person over and over again. Read the rest of this entry »

Tags: bank owned, foreclosure, reo, short sale

Tax Credit Deadline Extension in Jeopardy

Up to 180,000 home buyers will lose their tax credit through no fault of their own if Congress fails to pass an extension to the home buyer tax credit by June 30 when the closing deadline expires. Included in that number are thousands of home buyers in every state of the union, from 390 in Wyoming to 17,700 in California. These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a workflow jam with lenders or other delays such as lapses in the National Flood Insurance Program, Rural Housing Service, and new home construction, and might not be able to complete the purchase of their homes by the current deadline. It would be a tragedy for them not to be able to complete the purchase in time to claim the credit due to the inept lending market.

Tags: IRS, tax credit, taxes

Does Ladera Ranch have a Tuesday taco night?

Of course Ladera Ranch has a Tuesday taco night. It is believe it or not, on Tuesday night at the Ranch Sports Grill in Ladera Ranch. This is an upscale sports bar with lots of fun. Click to view map for the Ranch Sports Grill.

Tags: ladera ranch, ladera ranch homes, tacos, tuesday, tuesday taco night

Is it time to buy in Ladera?

The big question is whether it’s time to buy in Ladera Ranch right now? The answer depends on who you talk to? If you are a seller, you’d better price your home accordingly or you will be over looked. The current price per sold SqFt of homes for June was $249. That is the average and also my benchmark. In today’s economy, why would you pay much more than this. Truth be known, many many people are hanging on by a thread in Ladera Ranch. I know this because I live in Ladera and I talk to the homeowners while at the parks with my son. Many people have used their home as an ATM machine and just cannot afford their payments anymore while others have the dreadful option arm loan getting to reset to a higher number. One homeowner actually told me her mortgage payments went up $500 per month because her FHA lender made a mistake on her loan??? In either case they are deals to be had but you’d better hurry because the sharks are out and demand for those deals are high. If you truly don’t care about overpaying for a home, then there is tons of inventory for you to see. I can easily help you find the best deal or the over price home as well. Just contact me.

Tags: current market, ladera ranch homes, past sales

Find your super hot deal in Ladera Ranch here

View all the bank owned and foreclosure homes here.

Tags: bank owned, hot deal, reo

Wondering what the past sales have been in Ladera Ranch?

Click here to find out.

Tags: comps, ladera ranch, ladera ranch homes, past sales

4th of July in Ladera

The 4th of July was a blast in Ladera this year. Usually, I take my family down to San Clemente and perch myself at the “Fishermans” for 4 hours just so I can see fireworks on the pier and also at Dana Point Harbor at the same time. It’s always a good time but way too long of a day and not enough to do for my 7 year old. This year we decided to stay in Ladera Ranch as we live here. What a great choice it was. We enjoyed the wonderful party at our neighborhood pool (kids galore) then enjoyed some fireworks in the neighborhood before the “official” fireworks began at 9pm. Organizers  laid out the red carpet this year with parades, activities, live music, great food and drinks from many different vendors and of course the awesome fireworks celebration. This 4th of July took on a special meaning than the others as this 4th was the very first Decade that Ladera Ranch has been around. That’s right, Ladera Ranch is officially 10 years young. Hope you enjoyed the celebrations!

Tags: 4th of july celebrations, decade, fireworks, ladera ranch, ladera ranch first decade