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Melissa Zavala
Logistics Management in Real Estate
Real Estate | Greater San Diego Area, US

Summary

Through Broadpoint Properties and Short Sale Expeditor, Melissa works with real estate agents throughout the nation providing coaching, mentoring, training, and administrative services. Her clients range from individual agents to large brokerage houses. No matter the client's personal and professional goals, all are looking for a way to increase their business and their market share, and have found this success through outsourcing.

Prior to developing the Short Sale Expeditor program and opening her own brokerage, Melissa was a broker associate for a national franchise and demonstrated excellence by working "outside of the box": closing hundreds of short sale transactions and developing what is now known as the Short Sale Expeditor program.

Melissa did not always dream of a career in real estate. In fact, she began as a high school teacher, and then as a college professor. Later, she transitioned into the field of educational publishing. Most recently, she has been able to use her teaching and organizational skills while travelling the world over—dispelling myths about the distressed property market, engaging and motivating real estate agents, and sharing her passions as a short sale aficionado.

You can read her articles on Agent Genius and Bigger Pockets.
Specialties: Short Sales, Short Sale Negotiation, Distressed Properties, Marketing, Training, Coaching

Experience

  • Aug 2008 - Present
    Broker/Owner / Broadpoint Properties
    Coach and counsel agents, prepare marketing programs and materials, audit escrow files, oversee general office administration.
  • Jul 2008 - Present
    Founder / Short Sale Expeditor
    Mentor and train agents throughout the United States, conduct short sale webinars and workshops, oversee administration and processing of short sale transactions.
  • Jun 2001 - Present
    Broker Associate / ERA Property Movers
  • 2000 - Present
    Educational Consultant / Harcourt
  • Jun 1995 - Present
    Senior Editor / McDougal Littell

Education

  • 1988 - 1990
    Northeastern University
    MA in English
  • 1984 - 1988
    University of California, San Diego
    BA in General Literature

Additional Information

Websites:
Broadpoint Properties, Short Sale Expeditor
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Posts

May 23, 09:00 AM
Close Short Sales – Sell at Fair Market Value

Are you having trouble getting your short sales closed? Do you think that they take forever to process? Do your buyers walk when you have finally obtained your approval letter?

This is article number six in a series of 10 articles about the Top Ten Tips for Getting Your Short Sales Closed.

Tip 1: Get Educated About the Short Sale Process.

Tip 2: Set Expectations Accordingly.

Tip 3: Prepare Your Short Sale Package With Care.

Tip 4: Get Non-Institutional Liens Released Early.

Tip 5: Follow Up Quickly to Avoid Delays

And here is Tip #6: Sell the Property at Fair Market Value

I cannot begin to count the number of calls that I receive each week from an agent representing an investor looking for the deal of a lifetime. Or, I get calls directly from so-called investors looking to pick up pre-foreclosures for 60 cents on the dollar. They want me to do the short sale negotiating and they think that the banks would be crazy if they didn’t take their cash (40% below market value) over the current offer on the table from a first-time homebuyer obtaining a loan and paying fair market value.

Remember this if you remember nothing else: To the short sale lender, no matter whether the buyer pays cash or obtains a loan, the bank still receives cash at the end of the day. So, all things being equal, would you rather have 60 cents or one dollar?

Do your best to sell the short sale property at fair market value. You see, the investor (note holder) wants to recoup as much of their original investment as possible, and so-called ‘lowball’ offers are often rejected.

Here are a few ideas for how to accomplish a quick and efficient short sale:

Always submit your highest and best offer to the short sale lender, keeping in mind that the highest may not be the best (especially if the highest offer comes from someone asking for termite repairs, septic work, a home warranty, and 3% in closing cost concessions).

Remember that each time you submit an offer, all of the supplemental information needs to be complete and the supporting documents need to relate to the new buyer (settlement statement, pre-qualification, Bank of America addenda, etc.)

Keep in mind that the valuation needs to be current. Certain investors require a new BPO every 90-120 days. If you have had a short sale approval in the past for the subject property and are seeking one for the same property but with a different buyer, the terms may be different—especially if the BPO is over 90 days old.

There are lots of details that help to make the short sale a more efficient transaction. The tips provided here are just a few ways to see more closings this year and beyond!

May 21, 09:00 AM
Bank of America Now Offers Up to $30,000 in Relocation Assistance

That’s right folks. Bank of America is now among the ranks of lenders offering additional relocation assistance money to certain short sale sellers. In addition to programs such as HAFA or other short sale incentive programs offered by other lending institutions, Bank of America announced last week that they are now offering certain short sale sellers up to $30,000 in short sale incentive money. Many of those that are eligible will receive a letter in the mail advising them about the program and yes, the letter does state that a 1099 will be issued to each short sale seller who receives relocation assistance.

Here are the FAQs (courtesy of our folks at Bank of America):

Q: How can I find out if my client qualifies for this limited time offer?
A: Call a Bank of America short sale specialist at 1.866.880.1232

Q: Do I have to do anything special when initiating or completing the short sale?
A: No. But act quickly by initiating the short sale into the Equator system.  This is a limited-time offer that your clients won’t want to miss out on.

Q: If a short sale is initiated with an offer, will it qualify for this relocation assistance?
A: No. This relocation assistance is only available on preapproved price short sale programs.  Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds.

Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, funds received at closing will be documented on the HUD-1, and a 1099-MISC will be issued.

Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses.

Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives?
A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive.  For example, if the homeowner is eligible for a $5,000 homeowner incentive, $3,000 will be from the HAFA incentive, and $2,000 will be from the homeowner incentive.

Q: Is the enhanced relocation assistance available for other programs?
A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer. However, as we gauge the success we may extend this incentive to other programs.

 

May 18, 09:00 AM
Latest Distressed Property and Short Sale News and Tips

Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:

More Bills that Could Aid ‘Upside Down’ Borrowers  Just like the word ‘chad’ took on meaning a few years back, this article and Obama’s proposed refinancing initiatives have provided a new word, ‘re-HARPing.’ Read this article to learn more about all of the proposed bills currently out and about.

California and Principal Reductions  This Keep Your Home California Program is as foggy as North San Diego County in June. (If you have never been to San Diego in June, know that there are days of fog and often the sun never shines.) But, apparently, there may be some upcoming opportunities for the fog to lift and for sellers to receive small principal reductions. Read the article to learn more.

Listing a Tenant-Occupied Short Sales  Wanna know how to make a tenant really, really angry? Try collecting rent and not making the mortgage payment on the property for which the rent was collected. If you have a short sale seller for a tenant-occupied property, then this is a great article for you. There are tons of tips here for dealing with tenants and effectively closing a short sale on a rental unit.

There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard, which is why we’ve provided you with a weekly recap right here.

May 16, 09:00 AM
Close Short Sales Fast – Follow Up Quickly

Are you having trouble getting your short sales closed? Do you think that they take forever to process? Do your buyers walk when you have finally obtained your approval letter?

This is article number five in a series of 10 articles about the Top Ten Tips for Getting Your Short Sales Closed.

Tip 1: Get Educated About the Short Sale Process.

Tip 2: Set Expectations Accordingly.

Tip 3: Prepare Your Short Sale Package With Care.

Tip #4: Get Non-Institutional Liens Released Early.

And here is Tip #5: Follow Up Quickly to Avoid Delays

It never fails. You are laying in bed at 5:00 a.m. and your cell phone rings. You hear it even though the phone is plugged in and charging down the hall. Who is it? Well, it’s a short sale lender and s/he needs an item in order to complete or update the short sale package. Or perhaps the lender has a question or needs a change to the estimated settlement statement.

In order to avoid delays in the processing of your short sale, assigned tasks (either in the Equator system or received via telephone or email) must be completed quickly and efficiently. Some delays can slow or even halt the processing of your short sale transaction.

  • Check your phone and email messages regularly (including your spam or junk box) in order to assure that you have all your messages.
  • Log into Equator daily (if you are working in that system) in order to verify that you have no open tasks.
  • Make sure to learn about deadlines and be sure that all requested responses are addressed prior to their deadlines.
  • Encourage the homeowner to read and review all mail regularly. Many items pertaining to programs such as HAFA, will be sent to the homeowner directly and may not be available directly to the agent processing the short sale.

Completing tasks or activities immediately upon request will help you to help your seller avoid foreclosure and will also help your short sale to move along efficiently.

It does not take Albert Einstein or Isaac Newton to process a short sale. There are very simple steps, that when completed methodically and efficiently can lead to a successful short sale closing. Responding immediately to all requests is just one of those things that can result in an effective short sale closing.

May 14, 09:00 AM
How to Dispute Values on Bank of America Short Sales

If you have completed more than a handful of short sales, then you have no doubt faced the music with respect to property value.  During the course of the short sale, the short sale lender sends out another Broker to complete a Broker Price Opinion (BPO) for the short sale listing. The bank then, in most cases, bases their price on the value stipulated in the BPO. However, often times, there is a slight discrepancy between the value stipulated in the BPO (what the bank wants) and the offer amount (what the buyer wants to pay). In many cases, what comes next is a valuation dispute. And, at some lending institutions, this is much easier to complete than at others.

Bank of America has recently revised their process for valuation disputes during the short sale transaction.

Here is an outline of the new process (courtesy of our friends at Bank of America):

  • Tell your short sale specialist that you would like a reconsideration of the value.
  • Receive an investor-specific, easy-to-complete form from your short sale specialist that specifies all requirements for a successful value dispute.
  • Fill out the form and attach specified evidence.
  • Stay in touch with your short sale specialist for results.
  • Expect a value dispute review within 10-12 business days once all required information has been received.

Here is the evidence you will need in order to support your valuation dispute:

Provide comparables that are recent, proximate (nearby) and similar to the property in question.

  • “Recent” means sold within 90 days of the actual value document date.
  • “Proximate” varies by location. In a rural area, for example, a home five miles away could be considered proximate.
  • You will be able to provide additional notes to highlight characteristics of the comps.

When the dispute centers on property condition or hazards:

  • Provide an itemized estimate from a licensed contractor on the contractor’s letterhead.
  • Provide photos to illustrate the repair, condition issue or hazard you want to highlight.

If your valuation dispute relates to condition and significant repairs are required (which in turn, lower the subject property’s value), it’s best to have multiple bids in order to support you position. But, don’t expect the bank to pay for all new carpet when there is a small stain in the living room.

 

 

May 11, 09:00 AM
Weekly Short Sale Roundup a la Lady Gaga

Here’s a recap of some of the interesting stuff that went on this past week in the distressed property arena:

HAMP Modifications Down 33% from Last Year  This article provides information on the decline in HAMP loan modifications. What does it mean? Are we winding down in the distressed property arena or are the banks just not that efficient? Read more to find out.

Are We Really at the Bottom?  We’ve seen some big changes in the market lately? Is the bottom behind us and will this bottom actually stick? Read more in this dsnews.com article.

How to Command the Short Sale Lender’s Attention  While it is feasible for Lady Gaga to wear a meat dress to her job to command attention, a short sale takes much more specific finesse in order to get a deal done. Here are some ways to do just that.

There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard, which is why we’ve provided you with a weekly recap right here.

 

(photo credit)

May 09, 09:00 AM
Negotiation Tip: Get Other Liens Released Early

Are you having trouble getting your short sales closed? Do you think that they take forever to process? Do your buyers cancel when you have finally obtained your approval letter?

This is article number four in a series of 10 articles about the Top Ten Tips for Getting Your Short Sales Closed.

Tip 1: Get Educated About the Short Sale Process.

Tip 2: Set Expectations Accordingly.

Tip 3: Prepare Your Short Sale Package With Care.

And, here is Tip #4: Get Non-Institutional Liens Released Early.

There are several kinds of liens that can be associated with the property or the borrower. And, in most cases, all of the liens associated with the property or the borrower need to be released prior to closing.

In order to learn about the liens associated with the property and/or the borrowers, the best course of action is to order a preliminary title report when you take the short sale listing. The preliminary title report will list many of those liens that will need to be cleared prior to closing. Another recommendation would be to have the local title company run a Statement of Information on the short sale seller. Often liens are associated with the seller, but not attached to a specific property.

In a short sale, most short sale lenders in the first position will provide some sort of compensation of other mortgage lenders on title (such as a home equity line or 2nd mortgage). However, it is not common for short sale lenders to pay for any of the following: HOA Liens, child support, abstracts of judgment, federal and state tax liens or mechanic’s liens.

If you want your short sale transaction to move along swimmingly, work with your short sale seller to assure that any non-institutional liens on the property are released prior to closing.

 

(photo credit)

 

May 07, 09:00 AM
Short Sales and Closing Cost Credits

I think that there is no question that in many parts of the United States (San Diego County included) it’s a seller’s market again. Just a few weeks ago an agent in my office received 24 offers on his short sale listing, and another property got 10 offers the very same weekend.

When reviewing short sale offers with clients, it is important to look at the type of loan that the buyer will obtain: VA, FHA, or conventional financing. And, will the buyer require a closing cost concession from the seller?

One of the unknown factors often associated with a short sale is whether the bank will approve the closing cost concession. For example, you may have an offer from a buyer that needs a 3% closing cost credit. However, it is entirely within the realm of probability for some short sale lenders to have guidelines that would prohibit them from approving that 3% closing cost credit.

Then what do you do? A short sale seller is not going to net any money at closing and will not pay that closing cost credit out of his/her own pocket. But, there are two easy and obvious solutions:

  1. Suggest that the seller select an offer that does not ask for a closing cost credit.
  2. Write a counter offer whereby you specify that approval of the short sale closing costs by the short sale lender is not a contingency of sale.

Need more information on how to write a short sale counter offer? Why not download our free ebook at http://www.shortsaleexpeditor.com/ebook/  You’ll be glad you did!

 

(photo credit)

 

Short Sale Expeditor
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Posts

May 23, 09:00 AM
Bank of America Now Offers Up to $30,000 in Relocation Assistance

That’s right folks. Bank of America is now among the ranks of lenders offering additional relocation assistance money to certain short sale sellers. In addition to programs such as HAFA or other short sale incentive programs offered by different lending institutions, Bank of America announced last week that they are now offering certain short sale sellers up to $30,000 in short sale incentive money. Many of those that are eligible will receive a letter in the mail advising them about the program and yes, the letter does state that a 1099 will be issued to each short sale seller who receives relocation assistance.

Here are the FAQs (courtesy of our folks at Bank of America):

Q: How can I find out more about this limited time offer?
A: Call a Bank of America short sale specialist at 1.866.880.1232

Q: If a short sale is initiated with an offer, will it qualify for this relocation assistance?
A: No. This relocation assistance is only available on preapproved price short sale programs.  Short sales initiated at the time an offer is received do not qualify for the enhanced relocation assistance funds.

Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, the homeowner may use funds to pay off existing liens or to help with relocation expenses.

Q: Is the relocation assistance added to any other incentives, such as the HAFA or Bank of America proprietary program incentives?
A: The homeowner incentive will be inclusive of the $3,000 HAFA incentive.  For example, if the homeowner is eligible for a $5,000 homeowner incentive, $3,000 will be from the HAFA incentive, and $2,000 will be from the homeowner incentive.

Q: Is the enhanced relocation assistance available for other programs?
A: Currently, the enhanced relocation assistance is only available to short sale programs initiated without an offer. However, as we gauge the success we may extend this incentive to other programs.

 

 

May 21, 09:00 AM
Poway Condo for Sale – Great Price

Home prices in Poway are pretty great right now, and this Poway condo for sale is no exception. This 2 bedroom, 2 bath condo is located at 12719 Robison Blvd #15. It has 737 square feet of living space and would be a perfect opportunity for many buyers looking for a first-time place or even an investment. This condo is located in a residential neighborhood—just a hop, skip and a jump from shopping, schools, transportation, and hospitals. So, if you would like to live in the wonderful community of Poway, why not check out this Poway condo for sale?

Have a look at the information below to learn more about this Poway condo for sale.

12719 Robison Blvd 15, Poway, CA 92064 (MLS # 120024630)

(all data current as of 5/24/2012)
Price $165,000
Beds 2
Baths 2 full
Home size 737 sq ft
Lot Size n/a
Days on Market 14
Location, Location in beautiful Poway, Award Winning Unified School District conveniently located to shopping and transportation. You'll love this charming condominium which has so much to offer, great for first time buyer or investor. DON'T WAIT! Buyer to verify all prior to close of escrow.

Property Type(s): Residential / All Other Attached, Residential / All

Last Updated 5/13/2012 Tract The Palisades
Year Built 1977 Community Poway
Garage Spaces 2.0 County San Diego
Total Parking 2 Walk Score ® 83

Schools

School District Poway Unified

Additional Details

CDR/Mello Roos 0.0 Units in Complex 44
Units in Building 8 Home Owner Fees 250.0
Complex/Park The Palisades Total CDR/Mello-Roos 0
Unit #/Space# 15 Family Room Dimensions n/a
Bedroom 2 Dimensions 9X8 Master Bedroom Dimensions 16X9
Living Room Dimensions 15X11 Kitchen Dimensions 9X9
Dining Room Dimensions 9X9 Parking Garage Spaces 0
Parking Non-Garaged Spaces 2 Parking Spaces Total 2
Stories in Building 2 Total Other Fees 0

Features

Construction Built on Site
Cooling Wall/Window
Elevator No
Entry: 3+Stair/Steps to Entry Yes
Equipment Available Dishwasher, Disposal, Microwave, Range/Oven, Refrigerator
Exterior Stucco
Heat Equipment Wall/Gravity
Heat Source Other/Remarks
Home Owner Fee Reflects Month
Home Owners Fee Includes Common Area Maintenance
Home Owners Payment Frequency Monthly
List Status Active
Market Area North County Inland
Ownership Condominium
Parking Non-Garage Description Assigned
Pets Yes
Pool Community/Common
Prop Type Residential
Property Restrictions Known None Known
Residential Styles All Other Attached
Roof Composition
Searchable Rooms Dining Area, Dining Room
Sewer/Septic Sewer Connected
Stories 1 Story
Subject to Court/Lender Approv No
Topography Level
Water Available

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Broadpoint Properties, Inc

(view all details for MLS #120024630)

Don’t like this one? We have more. Check out what is currently for sale in the same neighborhood.

Showing properties 1 - 9 of 9. See more city of Poway real estate.
(all data current as of 5/24/2012)

  1. 3 beds, 2 full, 1 part baths
    Home size: 1,432 sq ft
    Year built: 1985
    Parking spots: 2
    Days on market: 5
    Walk Score®: 77
  2. 3 beds, 2 full, 1 part baths
    Home size: 1,368 sq ft
    Year built: 1987
    Parking spots: 2
    Days on market: 24
    Walk Score®: 51
  3. 3 beds, 2 full, 1 part baths
    Home size: 1,380 sq ft
    Year built: 1974
    Parking spots: 4
    Days on market: 52
    Walk Score®: 68
  4. 4 beds, 2 full, 1 part baths
    Home size: 1,644 sq ft
    Lot size: 2,097 sqft
    Year built: 1974
    Parking spots: 4
    Days on market: 57
    Walk Score®: 71
  5. 3 beds, 2 full, 1 part baths
    Home size: 1,368 sq ft
    Year built: 1985
    Parking spots: 2
    Days on market: 70
    Walk Score®: 77
  6. 3 beds, 2 full, 1 part baths
    Home size: 1,279 sq ft
    Year built: 1985
    Parking spots: 2
    Days on market: 92
    Walk Score®: 80
  7. 3 beds, 2 full, 1 part baths
    Home size: 1,395 sq ft
    Year built: 1995
    Parking spots: 2
    Days on market: 143
    Walk Score®: 83
  8. 3 beds, 2 full, 1 part baths
    Home size: 1,432 sq ft
    Year built: 1986
    Parking spots: 2
    Days on market: 273
    Walk Score®: 77
  9. 4 beds, 2 full, 1 part baths
    Home size: 1,319 sq ft
    Lot size: 1,232 sqft
    Year built: 1978
    Parking spots: 2
    Days on market: 346
    Walk Score®: 43

Listing information deemed reliable but not guaranteed. Read full disclaimer.

May 18, 09:00 AM
Discover Leucadia, California

The community of Leucadia is located in the city of Encinitas and is about 30 miles north of the city of San Diego. Leucadia was founded in the late 1800s and is currently known for its many beaches, its year round temperate climate, and its proximity to the Pacific Ocean.

Homes in Leucadia range from small apartments and beachfront cottages to large properties (both old and new)—many with 180-degree ocean views to Santa Catalina Island, Mexico and beyond. The architecture of Leucadia is diverse—with many custom properties and also handfuls of streets that may include homes developed by a single builder.

Check out the video below to see more of Leucadia in Encinitas:

 

 

Like what you see? Check out the latest homes for sale in and around Leucadia, Encinitas. If you are looking for a home in the Leucadia area, bookmark this page or save to your favorites so that you can always check in on the latest homes for sale in Encinitas.

Showing properties 1 - 10 of 38. See more Leucadia community real estate.
(all data current as of 5/24/2012)

  1. 2 beds, 2 full, 1 part baths
    Home size: 1,254 sq ft
    Lot size: 18,400 sqft
    Year built: 1975
    Parking spots: 4
    Days on market: 3
    Walk Score®: 54
  2. 3 beds, 2 full baths
    Home size: 2,555 sq ft
    Lot size: 9,000 sqft
    Year built: 1990
    Days on market: 4
    Walk Score®: 58
  3. 5 beds, 5 full, 1 part baths
    Home size: 4,226 sq ft
    Year built: 2012
    Days on market: 11
    Walk Score®: 51
  4. 4 beds, 4 full, 1 part baths
    Home size: 4,402 sq ft
    Year built: 2012
    Days on market: 11
    Walk Score®: 51
  5. 3 beds, 2 full baths
    Home size: 1,485 sq ft
    Year built: 1989
    Days on market: 13
    Walk Score®: 49
  6. 3 beds, 3 full baths
    Home size: 3,501 sq ft
    Lot size: 10,454 sqft
    Year built: 1999
    Parking spots: 4
    Days on market: 20
    Walk Score®: 52
  7. 3 beds, 3 full baths
    Home size: 2,400 sq ft
    Year built: 1965
    Days on market: 25
    Walk Score®: 22
  8. 4 beds, 2 full, 1 part baths
    Home size: 2,862 sq ft
    Lot size: 18,000 sqft
    Year built: 1984
    Parking spots: 4
    Days on market: 25
    Walk Score®: 40
  9. 2 beds, 1 full bath
    Home size: 1,704 sq ft
    Lot size: 7,500 sqft
    Year built: 1955
    Days on market: 30
    Walk Score®: 60
  10. 4 beds, 3 full, 1 part baths
    Home size: 3,995 sq ft
    Lot size: 21,780 sqft
    Year built: 2003
    Parking spots: 3
    Days on market: 32
    Walk Score®: 25

Listing information deemed reliable but not guaranteed. Read full disclaimer.

May 16, 09:00 AM
When Your Short Sale Buyer Cancels

Dear Broadpoint:

I’m in the middle of a short sale. Bank of America is my lender, and the buyer backed out. Someone told me that there is a law that if you submit a new offer, Bank of America has to review it right away. Is that a law? And, if so, what’s the civil code? –Short Sale Seller in Temecula

 

Dear Short Sale Seller in Temecula:

There is no law that states that Bank of America has to review offers for your short sale right away. However, Bank of America has recently revised their corporate loss mitigation policy a little bit. Now, if you are in the midst of a short sale and the buyer cancels, a new buyer can replace the old one—just as long as the new offer is submitted to the lender within 5 days.

It’s also true that Fannie Mae and Freddie Mac (effective June 1, 2012) will be required to respond to short sales within 30 days. While it may appear as if this means quicker processing times, it may simply mean quicker rejections—if the short sale package does not meet the correct guidelines.

Best wishes on your short sale. Short sales can be challenging and try your patience, but it sounds like yours will be over soon. –Broadpoint

 

*This is a real question from a real short sale seller. Names have been removed.

May 14, 09:00 AM
San Marcos Home for Sale – Great Price

Home prices in San Marcos are pretty great right now, and this San Marcos home for sale is no exception. This 3 bedroom, 2 bath home is located at 1207 Corte Dulce. It has 1217 square feet of living space and would be a perfect opportunity for many buyers looking for a first-time home or an investment. This home is located in a residential neighborhood—just a hop, skip and a jump from shopping, schools, transportation, hospitals. So, if you would like to live in the wonderful community of San Marcos, why not check out this San Marcos home for sale?

Have a look at the information below to learn more about this San Marcos home for sale.

1207 Corte Dulce, San Marcos, CA 92069 (MLS # 120023442)

(all data current as of 5/24/2012)
Price $225,000
Beds 3
Baths 2 full
Home size 1,217 sq ft
Lot Size n/a
Days on Market 22

Property Type(s): Residential / Detached, Residential / All

Last Updated 5/7/2012 Tract Unknown
Year Built 1991 Community San Marcos
Garage Spaces n/a County San Diego
Total Parking n/a Walk Score ® 69

Additional Details

CDR/Mello Roos 111.0 Home Owner Fees 0.0
Total CDR/Mello-Roos 1332 Bedroom 3 Dimensions 10x10
Family Room Dimensions 0 Bedroom 2 Dimensions 10x10
Master Bedroom Dimensions 16x13 Living Room Dimensions 16x13
Kitchen Dimensions 14x10 Dining Room Dimensions 13x11
Fireplaces(s) 1 Parking Garage Spaces 2
Total Other Fees 0

Features

CDR/Mello Roos Fee Reflects Month
CDR/Mello-Roos Payment Freq. Annually
Construction Built on Site
Cooling Central Forced Air, Wall/Window
Equipment Available Dishwasher, Disposal, Garage Door Opener, Microwave, Range/Oven
Exterior Stucco
Fencing Partial
Fireplace Location FP in Living Room
Heat Equipment Fireplace
Heat Source Wood
Laundry Location Garage
List Status Contingent
Mandatory Remarks Offer accepted pending lender approval of Short Sa
Market Area North County
Ownership Fee Simple
Parking Garage Description Attached
Patio Covered
Pets Yes
Prop Type Residential
Property Restrictions Known None Known
Residential Styles Detached
Residential Unit Location Detached
Roof Tile/Clay
Sales Restrictions Need Short Sale ? No Lender Knowledge
Searchable Rooms Bedroom(s) Entry Level, Dining Room, MBR Entry Level
Sewer/Septic Sewer Connected
Stories 1 Story
Subject to Court/Lender Approv Yes
Topography Level
Water Meter on Property

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Broadpoint Properties, Inc

(view all details for MLS #120023442)

Don’t like this one? We have more. Check out what is currently for sale in the same neighborhood.

Showing properties 1 - 10 of 89. See more city of San Marcos real estate.
(all data current as of 5/24/2012)

  1. 4 beds, 2 full baths
    Home size: 1,878 sq ft
    Lot size: 6,000 sqft
    Year built: 1960
    Parking spots: 8
    Days on market: 2
    Walk Score®: 68
  2. 3 beds, 2 full, 1 part baths
    Home size: 1,422 sq ft
    Year built: 1997
    Days on market: 2
    Walk Score®: 42
  3. 3 beds, 2 full baths
    Home size: 1,342 sq ft
    Lot size: 6,002 sqft
    Year built: 1977
    Days on market: 5
    Walk Score®: 46
  4. 4 beds, 2 full baths
    Home size: 1,567 sq ft
    Lot size: 13,000 sqft
    Year built: 1979
    Days on market: 10
    Walk Score®: 68
  5. 3 beds, 2 full baths
    Home size: 1,608 sq ft
    Year built: 1957
    Days on market: 10
    Walk Score®: 62
  6. 4 beds, 2 full baths
    Home size: 1,777 sq ft
    Lot size: 10,002 sqft
    Year built: 1973
    Days on market: 14
    Walk Score®: 51
  7. 3 beds, 2 full, 1 part baths
    Home size: 1,406 sq ft
    Lot size: 10,700 sqft
    Year built: 1975
    Parking spots: 9
    Days on market: 15
    Walk Score®: 42
  8. 4 beds, 2 full, 1 part baths
    Home size: 2,105 sq ft
    Year built: 2002
    Days on market: 17
    Walk Score®: 18
  9. 3 beds, 2 full, 1 part baths
    Home size: 1,510 sq ft
    Lot size: 4,094 sqft
    Year built: 1997
    Days on market: 17
    Walk Score®: 57
  10. 4 beds, 3 full baths
    Home size: 2,152 sq ft
    Year built: 2005
    Days on market: 18
    Walk Score®: 49

Listing information deemed reliable but not guaranteed. Read full disclaimer.

May 11, 09:00 AM
Discover Summercreek Escondido

The community of Summercreek is located in Southwest Escondido about 30 miles northeast of the City of San Diego. Summercreek is conveniently situated near shopping, public transportation and schools, and is just up the road from scenic Lake Hodges.

The community of Summercreek is comprised of single-family homes, both one and two story with large lots—many with swimming pools and custom one-of-a-kind landscaping.  In fact, many Summer Creek residents note the mingled scents of eucalyptus, flowering shrubs and orange blossoms drift across the hillsides.

Check out the video below to see more of Summercreek in Escondido.
 

Like what you see? Check out the latest homes for sale in and around Summercreek, Escondido. If you are looking for a home in the Summercreek area, bookmark this page or save to your favorites so that you can always check in on the latest homes for sale in Escondido.

Showing properties 1 - 10 of 57. See more Southwest Escondido community real estate.
(all data current as of 5/24/2012)

  1. 4 beds, 3 full baths
    Home size: 3,088 sq ft
    Lot size: 1.50 ac
    Year built: 1987
    Days on market: 4
    Walk Score®: 17
  2. 4 beds, 2 full baths
    Home size: 1,618 sq ft
    Lot size: 14,000 sqft
    Year built: 1959
    Parking spots: 4
    Days on market: 7
    Walk Score®: 69
  3. 4 beds, 3 full, 1 part baths
    Home size: 3,558 sq ft
    Lot size: 40,032 sqft
    Year built: 2012
    Days on market: 10
    Walk Score®: 31
  4. 3 beds, 2 full baths
    Home size: 1,600 sq ft
    Lot size: 10,000 sqft
    Year built: 1987
    Days on market: 12
    Walk Score®: 51
  5. 4 beds, 3 full, 1 part baths
    Home size: 2,817 sq ft
    Lot size: 14,959 sqft
    Year built: 1991
    Parking spots: 3
    Days on market: 13
    Walk Score®: 31
  6. 3 beds, 2 full, 1 part baths
    Home size: 3,000 sq ft
    Year built: 1950
    Days on market: 14
    Walk Score®: 20
  7. 4 beds, 3 full baths
    Home size: 2,614 sq ft
    Lot size: 13,252 sqft
    Year built: 1990
    Parking spots: 6
    Days on market: 16
    Walk Score®: 26
  8. 3 beds, 2 full, 1 part baths
    Home size: 1,695 sq ft
    Year built: 1989
    Days on market: 16
    Walk Score®: 62
  9. 4 beds, 2 full, 1 part baths
    Home size: 2,587 sq ft
    Year built: 1999
    Days on market: 17
    Walk Score®: 45
  10. 5 beds, 3 full baths
    Home size: 3,056 sq ft
    Year built: 1980
    Days on market: 20
    Walk Score®: 34

Listing information deemed reliable but not guaranteed. Read full disclaimer.

May 09, 09:00 AM
Missing Out on Short Sale Incentive

Dear Broadpoint:

We need help.

Rather than let our house go to foreclosure, we got a Realtor® and put the house on the market as a short sale.  We advised our Realtor® that we were interested in applying for the $3000 relocation expenses. She indicated that she would apply for that. We neither filled out nor signed an application for this. After two months, there was an offer on the short sale and today, at closing, we asked about the relocation expenses and were told that the bank said we didn’t qualify. We were never notified and this was the first we heard and our Realtor® couldn’t tell us why we didn’t qualify.  We refused to sign any more paperwork until we got an answer.  Is this possible and do you know why we wouldn’t qualify?  –Short 3k in Santa Fe*

 

Dear Short 3k in Santa Fe:

Since we are not privy to the details of your transaction, it would be tough for us to know if the agent doing the negotiating made a boo boo, or whether you actually did not qualify–since not all loans qualify for the HAFA program and its relocation assistance.

What I can tell you is this: the HAFA program requires that the borrowers complete a number of forms early in the short sale negotiation process. And, the short sale approval letter and estimated settlement statement would show an allocation of 3k to the seller/borrower at closing. Generally, those processing the short sale know early on whether the seller will qualify for the HAFA program (or any of the available short sale incentive programs).

Not all banks participate in the HAFA program and not all loans qualify for the program (even at participating institutions). If you want to know why you did not qualify or whether you should have qualified, call your mortgage lender. The short sale negotiator at the lending institution may even have his/her phone number on the short sale approval letter. Good luck! –Broadpoint

*This is a real question received via email from a legitimate short sale seller. Names have been changed.

 

(photo credit)

 

Broadpoint Properties

Melissa is a public speaker, Realtor®, Broker, short sale aficionado, and technology maven. She is fluent in English and Spanish and spends too much time in front of the computer or curled up with a book. When she isn't writing her real estate column or providing distressed property education, she loves Scrabble®, hot yoga, downhill skiing, dog training, and peanut butter cookies. 

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