Santa Clara County Short Sales
333 Santana Row #214, Sold for $515K. 1 Bedroom 1.5 Bath loft with catwalk, popout, large back patio, and 2 parking spots, great deal.
This short sale transaction just closed last week. For those of you who who are considering buying a short sale understand that the most important figures in the transaction are the negotiators, [...]
Continue reading about Santana Row Short Sale Closed and Sold
Currently Santa Clara has 194 Notice of Defaults filled on properties. A notice of default gets filed on a property in Santa Clara County when the owner is behind on the mortgage by 2 or 3 months. This is the first stage of the foreclosure process referred to as pre-foreclosure.
In order remove [...]
Continue reading about Rivermark, Santa Clara – NOD (Notice of Defaults)
It’s no surprise that any newer developments in the Santa Clara County as of the past 5 years are going to experience a high number of Short Sales and REO or Bank Owned properties. Rivermark in Santa Clara is no exception.
Rivermark is a master planned community developed in 2002 by Lennar, Centex and Shea Homes [...]
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FREQUENTLY ASKED QUESTIONS
SHORT SALES: THE LONG AND SHORT OF IT
1. What is a short sale?
A short sale* is a sales transaction in which the seller’s lender agrees to accept a payoff of less than the balance due on the loan. In addition to absorbing any loss on the loan, the lender in most [...]
Short sales happen when home values fall and sellers do not receive enough cash from a buyer to pay off their existing mortgages, providing lenders agree to take less than the amount owed to them.
On the surface, it may appear that a short-sale buyer is getting a good deal. Although a slim margin of short [...]
Continue reading about Should I Buy a Short Sale in the Santa Clara Valley?