Orcutt short sale Archives - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

The IRS Filed A Lien on My Home, Can I Still Do A Short Sale?

03/23/2011
Short Sale Info

Has the IRS field a lien on your home for back taxes? Are you wondering whether you still can do a short sale with the IRS lien filed on your property? The answer of course depends on your individual situation. But, generally the IRS will remove its lien on your property where it can be shown that the lien has no value. If your property is worth less than the liens that are superior to the IRS lien, then the IRS lien probably has no value.

What is a BPO and how can it Affect a Short Sale?

10/21/2010
Seller Info, Short Sale Info

A BPO is an acronym that stands for Broker Price Opinion. As a part of approving a short sale, a bank will order either an appraisal or a Broker Price Opinion (or both) to determine the market value of the property.

Santa Maria and Lompoc CA Short Sale Seller Tips

01/07/2010
Lompoc / Vandenberg Village, Santa Maria, Seller Info, Short Sale Info

Everyone in the Santa Maria and Lompoc housing marlet is talking about short sales these days. They love them, they hate them, they love to hate them, they. . . well you get the picture. There are a lot of opinions on them. One thing is for sure, if you are a short sale seller you should work with an experienced agent and obtain legal and tax advice before entering into a short sale arrangement. Short sales have significant financial, legal, tax, and credit consequences.

Are Short Sales Never Ending Bidding Wars for Buyers?

08/15/2009
Short Sale Info

Are short sales never ending bidding wars? Yes, they can be. In general, short sales are some of the most frustrating transactions for sellers and buyers. And, it is almost inevitable in this market that buyers will consider a short sale while looking for a new home. The market is simply loaded with short sales, and sometimes they sit there for months awaiting bank approval. So while buyers wait for the next bank owned listing to pop on th market, they tend to hash and rehash the short sale inventory.

Short Sale Seller Tip – Which Offer Should I Select?

05/12/2009
Short Sale Info

Short sale sellers are routinely receiving multiple bids on their properties given the current limited inventory in many markets on the central coast. Inevitably, the question arises -- how do I choose which offer to present to the bank? Several factors are important and short sale sellers should reflect on them when deciding which offer to present to their lender:

Selling Your Home as a Short Sale in the Santa Maria CA & Orcutt CA Market

07/06/2008
Santa Maria, Short Sale Info

Short sales dominate the Santa Maria and Orcutt CA market. Simply put, short sales are sales where the owner owes more than the house is currently worth. Currently, 50% of the active listings in Santa Maria and Orcutt are short sales. However, 60% of the homes sold in the past 30 days are bank owned homes (REOs), and only 10% of sold homes in the last month were short sales.