Valencia, Stevenson Ranch, Saugus, Canyon Country and Santa Clarita Foreclosure Buyers Must Read

I am faced daily with questions by the buyers and buyers' agents on the short sale process. It is important for me as a listing agent to educate the involved parties on the process and different challenges we may encounter as we move forward. Managing expectation is a must.

If you're a seller in need of a short sale or a buyer wanting to purchase a short sale- make sure you hire an agent who is educated in the short sale process. I find myself coming across a lot of agents who can't answer the standard questions regarding short sales. This indicates to me that: (1) The seller's agent doesn't really know the process of a short sale, (2) Because of the lack of knowledge regarding the short sale process, the process can take a lot longer then the standard 2-3 months, (3) The seller & seller's agent need to understand once the first offer is accepted & the contract is ratified all other offers are backup offers, (4) Buyer's & buyer agents who submit multiple offers on short sales are clogging the system and delaying the process for committed buyers.

Santa Clarita Certified Distressed Property Experts

Here's what buyers must understand if they want to purchase a short sale.

Be Patient. If you need to move in immediately, this is not the one for you. The lender will take their time to review the short sale package and it is similar to a Co-Op board package, it can take anywhere from 90 days to 180 days from offer + short sale package submission to close.

MAYBE Deals but not Steals. If you plan to make an offer, please present your best and highest offer. Lenders are absorbing the loss of this property, therefore the lender will want to minimize as much loss as possible. The BPO (Broker Price Opinion) or appraisal will show the lenders the most recent market comparables, the lender will want a price as close to fair market value as possible.

Best and Highest offer. Short Sale processors at the bank that have a lot of cases to work on and documents to look and work through. Our Offer is only one of a million, so making their work easy is the key to Successful Short Sale Transaction. As a Short Sale listing agent, I will price the property according to the recent comps. This will put the seller in a position where the sale price is not the reason that we do not receive an approval. As a Realtor representing the buyers, I'll submit an offer as close to Fair Market Value to avoid the lender from countering the offer. Buyers agents need to know their clients purchasing power and guide their clients to homes they can afford. The lender will rather say YES then pay the expense associated with foreclosure, lenders like certainty, not maybes.

Cash MAYBE be the king. If you are an all cash offer, which most of our short sales buyers are. That is a plus. However, the lender are looking to absorb as little loss as possible, so just because the offer is all cash with no mortgage contingency, it does not mean that you will be approved compare to other higher offers that needs financing. Price is the most important concern for the lender.

We are Real Estate agents under one of the most successful California Brokerage firms, Keller Williams VIP Properties, with extensive market knowledge. In addition, we have the confidence and success rate in completing short sales transaction.

If you are an owner that is considering a short sale and are already behind your mortgage payment, call us today at (661)290-3837 or email us at gary@garyricco.com for a confidential consultation. You can also email me, if your looking for information on how to purchase a short sale.

Homeowner Consequences For Santa Clarita, Valencia, Stevenson Ranch, Saugus & Canyon Country Homeowners Who Choose FORECLOSURE VS. SHORT SALE

I wanted to take the time to explain some of the consequences homeowners will face should they choose to walk away from their homes and allow the foreclosure. Its important that homeowners understand the options that can be utilized to minimize their loss while dealing with a foreclosure. Jennifer and I can educate homeowners facing foreclosure on the benefits of a Short Sale vs a Foreclosure, should that be an option to resolve your situation.

If you are facing foreclosure your goal should be to resolve your financial situation, minimize your loss, limit the impact on your credit, understand and avoid (if applicable) any TAX ramifications and prepare yourself to purchase a home within your means.

Here are important issues you should consider before just walking away from your home. For many homeowners foreclosure is not the only option however most are to fearful to take the opportunity to explore solutions.

Jennifer and I have earned the Certified Distressed Property Expert Designation (CDPE), homeowners ensure that they are working with a real estate professional that is equipped to handle their specific needs. Call Jennifer and I at 661.290.3837 for a free consultation on loan modifications. We GUARANTEE we can teach you how to submit your own loan modification request. No Fees required.

These issues are worth considering when facing a foreclosure.

Issue Future Fannie Mae Loan - Primary Residence (effective May 21, 2008)

Foreclosure
A homeowner who loses a home to Foreclosure is ineligible for a Fannie Mae backed mortgage for a period of 5 years.

Successful Short Sale
A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage after only 2 years.

Issue
Future Fannie Mae Loan -Non Primary (effective May 21, 2008)

Foreclosure
An Investor who allows a property to go to Foreclosure is ineligible for a Fannie Mae backed investment mortgage for a period of 7 years.

Successful Short Sale
An investor who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed investment mortgage after only 2 years.

Issue
Future Loan with any Mortgage Company
Foreclosure

Future Loan with any Mortgage Company On any future 1003 application, a prospective borrower will have to answer YES to question C in Section VIII of the standard 1003 that asks "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" this will affect future rates.

Successful Short Sale
There is no similar declaration or question regarding a short sale.

Issue
Credit Score

Foreclosure
Score may be lowered anywhere from 250 to over 300 points. Typically will affect score for over 3 years

Successful Short Sale
Only late payments on mortgage will show and after sale mortgage will be reported as paid or negotiated. This will lower the score as little as 50 points if all other payments are being made. A short sale's affect can be as brief as 12 to 18 months.

Issue
Credit History

Foreclosure
Foreclosure will remain as a public record on a person's credit history for 10 years or more.

Successful Short Sale
Short sale is not reported on a credit history.
There is no specific reporting item for ‘short sale'.
The loan is typically reported ‘paid in full, settled', "paid in full for less then full balance", "paid in full negotiated".

Bankruptcy (All except chapter 13) - 4 year time period from either the dismissal or discharge date of the bankruptcy action.
Bankruptcy/Chapter 13 - 2 years from the discharge date or 4 years from the dismissal date.
Deed-in-lieu of Foreclosure - 4-7 years following completion date, minimum 10% down.

Fannie Mae guidelines clearly show the advantage for a homeowner to short sale their home rather than suffer the consequences of a foreclosure. Please visit Fannie Mae's website for these guidelines. https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0816.pdf

Valencia Homeowners Facing Foreclosure, Don't Just Walk Away, You Have Loan Modification & Short Sale Options.

Are you facing a home foreclosure? Has your financial hardship landed you in a position that may cause you to lose your home? Don't just walk away from you home, you have options.

Homeowners who are in the pre-foreclosure process need to speak with Jennifer and I as quickly as possible. For many homeowners foreclosure is not the only option however most are to fearful to take the opportunity to explore solutions. By dealing with an agent who has earned the Certified Distressed Property Expert Designation (CDPE) designation, homeowners ensure that they are working with a real estate professional that is equipped to handle their specific needs.

Jennifer and I will teach you, free of charge, how to request a loan modification from your lender. Please don't pay fee's for something you can do. With the education Jennifer and I can give you, your lenders will want to work with you. You need to understand their are guidelines you must follow in order to prove you financially qualify for the modification. Also loan modifications take time, due to the high number of loan modification requests.

Should you not qualify for a loan modification, a short sale may be the answer. Selling your home by doing what is referred to as a "short sale", by which the lender agrees to accept less then what is owed, may be just what you need to get on the road to recovery.

In order to complete a short sale, you must have a Licensed Realtor list your home for sale to communicate and negotiate with the bank for you. The bank will not communicate directly with homeowners in regards to short sales, why because the lenders are not part of the Real Estate transaction, which requires Licensed Realtors by law. The Lenders are not parties on the Real Estate contract, however they must give the approval to accpect less then whats owed on the mortgage(s).

A Short sales proposal tells the bank that you have a purchaser that has agreed to purchase you home for less then the current outstanding mortgage balance. Lenders lose money by doing this, however if the short sale is priced correctly submitted correctly with a committed buyer the lender will save money because foreclosures cost lenders tens of thousands of dollars.

A short sale offer that is as close to the actual market value as possible will more likely be your best approach to getting the bank to consider this option. If the offer is considerably less then the market value, you will need to convince the lender that the offer on the table is in their best interest, and to move forward with the short sale of your property. Keep in mind that mortgage companies are in the business of lending, not property management.

Currently the short sale process can take anywhere from 30 days (highly unlikely) to 90 business days before a short sale offer is approved. And, to make things worse, each lender has its own guidelines. For example Countrywide's short sale approvals are buyer-specific, so you cannot transfer an approval as to price and terms to a new buyer... if the first buyer is not committed and walks, you have to restart the entire process with a new buyer. IndyMac on the other hand has allowed buyers to be replaced as along as the offer matches the approval, however they have a time frame in which you must replace the buyer, or the new offers must be resubmitted.

Understand the foreclosure process is very costly to the lender, and can be very complicated. Lenders would rather avoid having to complete the expensive foreclosure process, and avoid the costs associated with getting the home back as an REO, otherwise known as a "Real-Estate Owned" property.

If you sell your home as a short sale, your credit report will show wording similar to this: "Account paid in full for less than full balance" rather than showing "foreclosed". While this is still a derogatory comment, it is not as strong as a foreclosure. The disadvantage to a short sale is that in some cases the bank may require the homeowner to sign a promissory note for a portion of the shortage. However, the request for a promissory note is not very likely unless the homeowner has other assets that may be used to cover this shortage, and if the homeowner files bankruptcy after the short sale is complete, this promissory note may be completely wiped out.

Foreclosure is quite possibly the most devastating financial and emotional process a homeowner or family can go through. The reality is that many foreclosures should never happen and homeowners have options only they don't know where to turn.

Please contact Jennifer & Gary Ricco, CDPE's at Keller Williams VIP Properties. 661.290.3837. For a free consultation on the Loan Modification process. During this consultation we will review & evaluate your financial situation. At that point we will know and explain what options are available to you. You will be guided and educated throughout the process. Should you not qualify for a loan modification we will consult you on the benefits of a short sale vs letting the property go to foreclosure.

Santa Clarita Short Sale and Bank Owned Properties For Sale April 8, 2009

Santa Clarita Short Sales&Bank Owned Properties for sale

As your Santa Clarita Certified Distressed Property Expert, CDPE I am here to provide you with the most current short sale (pre foreclosure) and bank owned (REO) property statistics in the Santa Clarita Valley. As of April 8, 2009 here is the current average list and sale prices for the Stevenson Ranch, Valencia, Saugus, Newhall, Canyon Country, and Castaic areas.

ACTIVE BANK OWNED LISTINGS IN STEVENSON RANCH APRIL 8, 2009:
There is 1 active bank owned (REO) single family homes for sale in Stevenson Ranch, 2 in back up 7 pending.
Average list price: $574,900
Average sale price: $526,980 from 2/3/2009 - 04/8/2009 10 homes sold.
The bank owned homes sold $47,920 below the current average list price.

ACTIVE SHORT SALE LISTINGS IN STEVENSON RANCH APRIL 8, 2009:
There are 20 active short sale, pre foreclosure single family homes for sale in Stevenson Ranch, 7 in back up 9 pending.
Average list price: $530,237
Average sale price: $534,000 from 2/3/2009 - 04/8/2009 2 homes sold.
The short sale homes sold for $3,763 above the current average list price.
Short sale homes in Stevenson Ranch are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 04/8/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.

ACTIVE BANK OWNED LISTINGS IN STEVENSON RANCH FEBRUARY 3, 2009:
There were 6 single family homes sale.
Average list price: $549,850
Average sale price: $575,666 From 1/10/2009 - 02/03/2009, 3 homes sold.
The bank owned homes sold $25,816 above the average list price.
There are 8 homes in back up or pending status.

ACTIVE SHORT SALE LISTINGS IN STEVENSON RANCH FEBRUARY 3, 2009:
There were 21 single family homes sale.
Average list price: $537,185
Average sale price: $438,500 From 1/10/2009 - 02/03/2009, 2 homes sold.
The short sale homes sold for $98,685 below the average list price.
There are 14 homes in back up or pending status.
Short sale homes in Stevenson Ranch are listed for and selling for less then the bank owned homes.


ACTIVE BANK OWNED LISTINGS IN VALENCIA APRIL 8, 2009:
There are 13 active bank owned (REO's) single family homes for sale in Valencia, 6 in back up 27 pending.
Average list price: $452,600
Average sale price: $424,940 from 2/3/2009 - 04/8/2009, 31 homes sold.
The bank owned homes sold $27,660 below the current average list price.

ACTIVE SHORT SALE LISTINGS IN VALENCIA APRIL 8, 2009:
There are 86 active short sale, pre foreclosure single family homes for sale Valencia, 30 in back up 24 pending.
Average list price: $452,112
Average sale price $439,625 from 2/3/2009 - 04/8/2009, 16 homes sold.There were 18 single family homes sale.
The short sale homes sold for $12,487 below the current average list price.Short sale homes in Valencia are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 04/8/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.

ACTIVE BANK OWNED LISTINGS IN VALENCIA FEBRUARY 3, 2009:
Average list price: $492,100
Average sale price: $456,491 From 1/10/2009 - 02/03/2009, 6 homes sold.
The bank owned homes sold for $35,609 below the average list price.
There are 30 homes in back up or pending status.

ACTIVE SHORT SALE LISTINGS IN VALENCIA FEBRUARY 3, 2009:
There were 81 single family homes sale.
Average list price: $461,054
Average sale price: $396,666 From 1/10/2009 - 02/03/2009, 3 homes sold.
The short sale homes sold for $64,388 below the average list price.
There are 42 properties in back up or pending status.
Short sale homes in Valencia are listed for and selling for less then bank owned homes.


ACTIVE BANK OWNED LISTINGS IN SAUGUS APRIL 8, 2009:
There are 13 active bank owned (REO's) single family homes for sale in Saugus, 7 in back up 14 pending.
Average list price: $352,476
Average sale price: $386,800 from 2/3/2009 - 04/8/2009, 32 homes sold.
The bank owned homes sold $34,324 Above the current average list price. Bank owned homes in Saugus are listed for less and selling for less then short sale homes during the 2/3/2009 - 04/8/2009 time period.

ACTIVE SHORT SALE LISTINGS IN SAUGUS APRIL 8, 2009:
There are 51 active short sale, pre foreclosure single family homes for sale in Saugus, 31 in back up 26 pending.
Average list price: $420,755
Average sale price: $522,166 from 2/3/2009 - 04/8/2009, 6 homes sold.
The short sale homes sold for $101,411 Above the current average list price.

ACTIVE BANK OWNED LISTINGS IN SAUGUS FEBRUARY 03, 2009:There were 20 single family homes sale.
Average list price: $371,271
Average sale price: $412,818 From 1/03/2009 - 02/03/2009, 10 homes sold.
The bank owned homes sold for $41,547 above the average list price.
There are 26 homes in back up or pending status.
Bank owned homes in Saugus are listed for and selling for less then short sale homes.

ACTIVE SHORT SALE LISTINGS IN SAUGUS FEBRUARY 03, 2009:
There were 63 single family homes sale.
Average list price $453,837
Average sale price: $495,000 From 1/10/2009 - 02/03/2009 1 home sold.
The short sale homes sold for $41,163 above the average list price.
There are 32 homes in back up or pending status.


ACTIVE BANK OWNED LISTINGS IN NEWHALL APRIL 8, 2009:
There are 6 active bank owned (REO's) single family homes for sale in Newhall, 1 in back up 12 pending.
Average list price $350,380
Average sale price $396,569 from 2/3/2009 - 04/8/2009, 8 homes sold.
The bank owned homes sold $46,189 Above the current average list price.

ACTIVE SHORT SALE LISTINGS IN NEWHALL APRIL 8, 2009:
There are 34 active short sale, pre foreclosure single family homes for sale in Newhall, 15 in back up 12 pending.
Average list price: $368,434
Average sale price: $345,500 from 2/3/2009 - 04/8/2009, 2 homes sold.
The short sale homes sold for $22,934 Below the current average list price. Bank owned homes in Newhall are listed for less But short sale homes are selling for less during the 2/3/2009 - 04/8/2009 time period.
ACTIVE BANK OWNED LISTINGS IN NEWHALL FEBRUARY 3, 2009:There were 10 single family homes sale.
Average list price: $326,490
Average sale price: $338,506 From 1/10/2009 - 02/03/2009
The bank owned homes sold for $12,016 above the average list price.
There are 17 homes in back up or pending status.

ACTIVE SHORT SALE LISTINGS IN NEWHALL FEBRUARY 3, 2009:There were 36 single family homes sale.
Average list price: $404,631
Average sale price: $330,000 From 1/10/2009 - 02/03/2009, 1 homes sold.
The short sale homes sold for $74,631 below the average list price.
There are 12 homes in back up or pending status.
Bank owned homes are listed for less but Short sale homes in Newhall are selling for less.


ACTIVE BANK OWNED LISTINGS IN CANYON COUNTRY APRIL 8, 2009:
There are 14 active bank owned (REO's) single family homes for sale in Canyon Country, 9 in back up 35 pending.
Average list price: $298,392
Average sale price: $323,992 from 2/3/2009 - 04/8/2009, 39 homes sold.
The bank owned homes sold $25,600 Above the current average list price.
Bank owned homes in Canyon Country are listed for less and are selling for less then short sale homes during the 2/3/2009 - 04/8/2009 time period.

ACTIVE SHORT SALE LISTINGS IN CANYON COUNTRY APRIL 8, 2009:
There are 97 active short sale, pre foreclosure single family homes for sale in Canyon Country, 17 in back up 44 pending.
Average list price: $383,370
Average sale price: $361,991 from 2/3/2009 - 04/8/2009, 12 homes sold.
The short sale homes sold for $21,379 Below the current average list price.

ACTIVE BANK OWNED LISTINGS IN CANYON COUNTRY FEBRUARY 3, 2009:
There were 32 single family homes sale.
Average List Price: $327,498 Days on Market: 43
From 1/10/2009 - 02/03/2009 there were 26 homes sold, the average sale price was $322,226 days on market 30.
The bank owned homes have sold for $5,272 below the average list price.
There are 58 homes in back up or pending status.
Bank owned homes in Canyon Country are listed for and selling for less the short sale homes.

ACTIVE SHORT SALE LISTINGS IN CANYON COUNTRY FEBRUARY 3, 2009:
There were 117 single family homes sale.
Average List Price: $374,665 Days on Market: 119
From 1/10/2009 - 02/03/2009 there were 5 home sold, the average sale price was $438,000 days on market 195.
The short sale homes have sold for $63,335 above the average list price.
There are 40 homes in back up or pending status.


ACTIVE BANK OWNED LISTINGS IN CASTAIC APRIL 8, 2009:
There are 8 active bank owned (REO's) single family homes for sale in Castaic, 1 in back up 11 pending.
Average list price: $380,088
Average sale price: $408,806 from 2/3/2009 - 04/8/2009, 16 homes sold.
The bank owned homes sold $28,718 Above the current average list price.Bank owned homes in Castaic are listed for less and are selling for less then short sale homes during the 2/3/2009 - 04/8/2009 time period.

ACTIVE SHORT SALE LISTINGS IN CASTAIC APRIL 8, 2009:
There are 33 active short sale, pre foreclosure single family homes for sale in Castaic, 10 in back up 13 pending.
Average list price: $388,611
Average sale price: $414,750 from 2/3/2009 - 04/8/2009, 4 homes sold.
The short sale homes sold for $26,139 Above the current average list price.

ACTIVE BANK OWNED LISTINGS IN CASTAIC FEBRUARY 3, 2009:There were 14 single family homes sale.
Average list price: $496,221
Average sale price: $432,500 From 1/10/2009 - 02/03/2009, 6 homes sold.
Bank owned homes sold for $63,721 below the average list price.
There are 14 properties in back up or pending status.

ACTIVE SHORT SALE LISTINGS IN CASTAIC FEBRUARY 3, 2009:
There were 44 single family homes sale.
Average list price: $392,324
Average sale price: $407,500 From 1/10/2009 - 02/03/2009, 4 homes sold.
The short sale homes sold for $15,176 above the list price.
19 properties are in back up status or pending.
Short sale homes in Castaic are listed for and selling for less then the bank owned homes.


With the constantly changing market we are in my goal is to keep you up to date with the most current statistics in the Santa Clarita Valley. As potential buyers these numbers help you to understand what the price ranges are for bank owned and short sale properties. There is a big misconception when it comes to bank owned properties and short sales. Many are led to believe that there is a fire sale going on, that the banks are giving deep discounts. Banks at this point are in the business to minimize their loss severity.
You as a buyer need an agent who truely understands this market and can help you get your desired home whether it be a bank owned or short sale listing. With so much information and misinformation you need an agent that is not an average agent to guide you through these investment opportunities.
My husband and I are Santa Clarita's Certified Distressed Property Experts, CDPE. By dealing with an agent who has earned the CDPE designation, buyers and sellers ensure that they are working with a real estate professional that is equipped to handle their specific needs.
This real estate market has caused unbearable stress and heartache. As Certified Distressed Property Experts we will give our clients the expertise necessary to save their credit, relieve the uncertainty, and most of all help their families. We feel that education is key in this market with so much misinformation and foreclosure scams out there, we sought out this education to ensure we could properly help families get on the path to recovery.
Many of you have heard these terms on the news lately or see these type of homes in your communities. Would like to know what these terms mean or understand how the short sale process works? Go to: http://www.santaclaritavalleyhomesonline.com/shortsale.htm.

If you or someone you know are in a difficult situation with your property consider us. Homeowners who are in the pre foreclosure process need to speak with an educated agent as quickly as possible. For many homeowners foreclosure is not the only option however most do not get the opportunity to explore solutions.We are Santa Clarita's Certified Distressed Property Experts and would like opportunity to sit down with you and give you a free, no obligation, consultation on this process.

Do you know of anyone who is thinking about moving to the Santa Clarita Valley? Let me show them this beautiful community among others here in the Southern California area.
If you would like to search specifically for Santa Clarita, or any other areas of Southern California go to: http://www.santaclaritacertifieddistressedpropertyexperts.com/

You can tract the Santa Clarita Short Sales and Bank Owned statistics on a monthly basis. In my archives click on the SANTA CLARITA SHORT SALE AND BANK OWNED PROPERTIES FOR SALE button.

*All information deemed reliable but not guaranteed, information directly from SOCAL MLS

First Time Home Buyer Grants For Families Who Would Like To Purchase In The Santa Clarita Or San Fernando Valley

As a member of the Southland Regional Association of Realtors I am always looking for ways to educate potential home buyers on the latest programs. Here is Grant to help first time home buyers that serves our local communities. This grant currently provides a home ownership grant to low and moderate-income individuals and families who purchase a home in the San Fernando and Santa Clarita Valley. The amount of the grant will be $4,000. Here is how the Grant works:

The funds are paid after the close of escrow and there are no repayment requirements.
The Southland Association of Realtors staff will administer the applications.
The grants will be awarded to the most deserving candidates.
Each candidate would receive $2,000 from the SRAR Foundation, and a further $2,000 from the
C.A.R. Housing Affordability Fund.

NOTE: THERE IS A LIMITED NUMBER OF GRANTS. GRANTS WILL BE AWARDED TO
QUALIFIED APPLICANTS BASED ON AVAILABILITY OF FUNDS AND ACCORDING TO
INDIVIDUAL APPLICANT NEED. BUYERS NEED TO BE AWARE THAT THERE IS NO
GUARANTEE THAT AN APPLICATION WILL RESULT IN A GRANT.

Here are the requirements to qualify:

1. You must be a first time home buyer.
2. Your combined family income level must be at $120,000 or less per year.
3. You must attend the Los Angeles Neighborhood Housing Services class.
4. The home must be located in the San Fernando or Santa Clarita Valley.
5. Buyer's REALTOR must be a full Southland Association of Realtors member.
6. Must receive additional assistance programs.
To receive the funds you will need:
1. A photocopy of your ID (BUYER).
2. A copy of your final closing statement. You will receive this from the Escrow Company a few days
after your transaction.
3. Page 8 of the contract showing buyer's agent.
4. Your class certification.
5. Details of loan programs AND assistance programs that you attained. Please include loan addendum
that indicates low or moderate income program funding.
6. First Time Home Buyers verification (Lender/CPA/W2's etc.).
Once you have assembled this information, it must be submitted to:
It may take a month or longer to receive the funds after all the paperwork has been submitted.

My husband Gary and I have taken the time to learn about this current real estate market. We specialize in distressed properties whether your buying or selling, we are Certified Distressed Property Experts, CDPE. By dealing with agents who have earned the CDPE designation, home buyers ensure that they are working with real estate professionals that are equipped to handle their specific needs.

You as a first time home buyer have a window of opportunity to negotiate a price which could be up to 20% below Fair Market Value. Now is a great time to buy with the right long term strategy and obtain a great interest rate which are at an all time low. As a first time home buyer let us help you find the home of your dreams. To learn about the First time Home buyer Tax Credit go to Gary's blog: http://activerain.com/blogsview/1004242/Is-Now-The-right-Time-To-Buy-If-Your-A-First-Time-Homebuyer

You need a team of experienced professionals guiding you through purchase of your dream home. We work both the Santa Clarita and San Fernando Valley's. If you would to learn more about us and the services we provide go to http://www.santaclaritafirsttimehomebuyers.com/ . If you would like to search the MLS and get daily updates on properties available in the Santa Clarita or San Fernando Valley go to: http://santaclaritavalleyhomesforsale.listingbook.com/
Your search can include Santa Clarita Valley short sales (pre foreclosures), bank owned properties (REO's) and regular listings.

Santa Clarita First Time Home Buyers Who Loose Their Jobs Due To Layoffs May Be Eligible To Receive $1500 A Month

Here's another great program that the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) launched. The C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP), for first-time home buyers.Through the Housing Affordability Fund Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months. Program benefits also include coverage for accidental disability and a $10,000 death benefit. C.A.R.'s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program, and estimates that as many as 3,000 families will benefit from the program this year.

To qualify for the Mortgage Protection Program, applicants must:

· Be a first-time home buyer - someone who has not owned a home in three
or more years
· Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009
· Use a California REALTOR® in the transaction
· Purchase the property in California
· Be a W-2 employee (cannot be self-employed)

To apply for the program, home buyers must request an application for the H.A.F. Mortgage Protection Program from Jennifer and Gary Ricco REALTORS® Keller Williams VIP Properties @ 661.290.3837.

My husband Gary and I have taken the time to learn about this current real estate market. We specialize in distressed properties whether your buying or selling, we are Certified Distressed Property Experts, CDPE. By dealing with agents who have earned the CDPE designation, you as a Santa Clarita first time home buyer ensure that you are working with real estate professionals that are equipped to handle your specific needs.
As a Santa Clarita first time home buyer, you have a window of opportunity to negotiate a price which could be up to 20% below Fair Market Value. Now is a great time to buy with the right long term strategy and obtain a great interest rate which are at an all time low. As a first time home buyer let us help you find the home of your dreams. To learn about the First time Home buyer Tax Credit go to Gary's blog: http://activerain.com/blogsview/1004242/Is-Now-The-right-Time-To-Buy-If-Your-A-First-Time-Homebuyer

You need a team of experienced professionals guiding you through the purchase of your dream home. We work the Santa Clarita Valley, the San Fernando Valley, Palmdale, and Ventura County. If you would to learn more about us and the services we provide go to http://www.santaclaritafirsttimehomebuyers.com/ give us a call at 661.290.3837.

If you would like to search the MLS and get daily updates on properties available in the Santa Clarita or San Fernando Valley go to: http://santaclaritavalleyhomesforsale.listingbook.com/ . Your search can include Santa Clarita Valley short sales (pre foreclosures), bank owned properties (REO's) and regular listings.