Tag Archive for California short sales

Moorpark Short Sale Specialist, 58% of Ventura County Homeowners See a Drop in Home Values Coming

58% of Homeowners See a Drop in Home Values Coming  Thursday August 17th, 2017  For Buyers, Housing Market Updates, Move-Up Buyers   According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” 
08/17/2017
¡Oigan, propietarios de casa ‘millennials’! Puede ser tiempo para vender  10 10UTC agosto 10UTC 2017  For Sellers, Millennials, Move-Up Buyers   Contrario a lo que muchos creen, los ‘Millennials’ no son la generación de ‘inquilinos’. Los ‘Millennials’ compraron el mayor porcentaje (34 %) de las 
08/16/2017
#TimeToSell #ChrisBJohnsonRealtor Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. Contrary to what many believe, Millennial
08/16/2017
Las viviendas se están vendiendo rápidamente en todo el país  15 15UTC agosto 15UTC 2017  For Sellers, Housing Market Updates, Move-Up Buyers   La Asociación nacional de Realtors (NAR por sus siglas en inglés) recientemente publicó su último Informe de ventas de las casas ya existentes, el cual 
08/15/2017
#TimeToSell #ChrisBJohnsonRealtor Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. Homes Are Selling Quickly Nationwide The 
08/15/2017
  Algunos aspectos destacados: ¿Pensando en mudarse a otro lado del país? ¿Qué tan lejos lo puede llevar su dinero? La mayoría de los estados en el medio oeste y el sur ofrecen un costo de vida más bajo en comparación con los estados del noreste y el oeste. El ‘mayor valor por su dinero’ viene d
08/11/2017
Weekly Mortgage Rate Update Low inflation and rising tensions with North Korea were good for mortgage rates this week, while strong labor market data was negative. The net effect was that mortgage rates ended the week a little lower, near the best levels of the year.THIS WEEK’S RATE TREND IS DOW
08/11/2017
#TimeToSell #ChrisBJohnsonRealtor Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. I am NOT interested in Selling 100 or 200
08/10/2017
El inventario de la vivienda alcanza un mínimo de 30 años  09 09UTC agosto 09UTC 2017  For Sellers, Housing Market Updates   La primavera es tradicionalmente la temporada más ocupada de bienes raíces. Los compradores, experimentando agobio todo el invierno, emergen como flores a través de la nie
08/09/2017
#TimeToSell #ChrisBJohnsonRealtor Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. Spring is traditionally the busiest seaso
08/09/2017
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Below you will find some listings that you may be interested in. If you like anything you see, don’t hesitate to email or call with your questions.

 

Chris B Johnson, REALTOR® CDPE, SFR, BPOR, CHS, PSC, CSSN, CDAT

Allison James Estates & Homes Elite

CA BRE 01501699

Office phone: 805.208.0823

Email:      ChrisBJohnsonRealtor@gmail.com

ChrisBJohnson@sellventuracountyhomes.com

Website:  http://www.ChrisBJohnsonRealtor.com

www.sellventuracountyhomes.com

http://ChrisBJohnson.housingtrendsenewsletter.com

http://www.linkedin.com/in/chrisbjohnson

http://www.VCNeighborhoodValues.com

 

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SEARCH All Properties for sale in 91359, 91376, 91319, 91358, 91362, 91361, 91360, 91320, 91301 - No Minimum Price to No Maximum Price, 0+ Beds, 0+ Baths
PRICE CHANGE
2 beds/1 baths
920 Sq. Ft.
$405,000
ID #216014423 – Listing courtesy of Agents of LA Inc.
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3 beds/2 baths
1158 Sq. Ft.
$485,888
ID #216015966 – Listing courtesy of Strategic Realty Inc.
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PRICE CHANGE
3 beds/2 baths
1791 Sq. Ft.
$639,000
ID #216015165 – Listing courtesy of Allan Argano, Broker
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PRICE CHANGE
4 beds/3 baths
1910 Sq. Ft.
$649,000
ID #216013735 – Listing courtesy of Ventana Properties
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4 beds/3 baths
2504 Sq. Ft.
$829,888
ID #216015956 – Listing courtesy of Strategic Realty Inc.
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5 beds/5 baths
3122 Sq. Ft.
$1,200,000
ID #216015954 – Listing courtesy of Keller Williams Westlake Village
View Details

4 beds/5 baths
4054 Sq. Ft.
$1,440,377
ID #216015964 – Listing courtesy of The New Home Company
View Details

There are more listings matching this search View All New Listings

This message was sent on behalf of Chris B. Johnson at Allison James Estates & Homes Elite. Some of the information in this email is copyrighted by the local Multiple Listing Service.

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http://www.ChrisBJohnsonRealtor.com

 

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Moorpark Short Sale Specialist Moorpark Short Sale Help #ChrisBJohnsonRealtor


Below you will find some listings that you may be interested in. If you like anything you see, don’t hesitate to email or call with your questions.

 

Chris B Johnson, REALTOR® CDPE, SFR, BPOR, CHS, PSC, CSSN, CDAT

Allison James Estates & Homes Elite

CA BRE 01501699

Office phone: 805.208.0823

Email:      ChrisBJohnsonRealtor@gmail.com

ChrisBJohnson@sellventuracountyhomes.com

Website:  http://www.ChrisBJohnsonRealtor.com

www.sellventuracountyhomes.com

http://ChrisBJohnson.housingtrendsenewsletter.com

http://www.linkedin.com/in/chrisbjohnson

http://www.VCNeighborhoodValues.com

 

Send an Email

SEARCH All Properties for sale in 91359, 91376, 91319, 91358, 91362, 91361, 91360, 91320, 91301 - No Minimum Price to No Maximum Price, 0+ Beds, 0+ Baths

SHORT SALE
3 beds/3 baths
1948 Sq. Ft.
$705,000
ID #216015864 – Listing courtesy of Albert Maxwell Goldberg
View Details

PRICE CHANGE
4 beds/3 baths
2250 Sq. Ft.
$728,900
ID #216015328 – Listing courtesy of Berkshire Hathaway HomeServices California Realty
View Details

PRICE CHANGE
3 beds/3 baths
1958 Sq. Ft.
$735,000
ID #216013743 – Listing courtesy of RE/MAX Infinity
View Details

PRICE CHANGE
4 beds/3 baths
2388 Sq. Ft.
$769,000
ID #SR16181660 – Listing courtesy of Broker Intrust Real Estate-Hos
View Details

PRICE CHANGE
3 beds/3 baths
2430 Sq. Ft.
$839,000
ID #216012494 – Listing courtesy of RE/MAX Olson & Associates Inc.
View Details

3 beds/3 baths
2263 Sq. Ft.
$910,000
ID #216015177 – Listing courtesy of Keller Williams Westlake Village
View Details

PRICE CHANGE
4 beds/3 baths
2923 Sq. Ft.
$928,000
ID #216014201 – Listing courtesy of Berkshire Hathaway HomeServices California Realty
View Details

PRICE CHANGE
4 beds/3 baths
2923 Sq. Ft.
$979,900
ID #216013640 – Listing courtesy of Berkshire Hathaway HomeServices California Realty
View Details

5 beds/5 baths
4935 Sq. Ft.
$1,749,000
ID #216015812 – Listing courtesy of Ewing & Assoc. Sotheby’s
View Details

4 beds/4 baths
4402 Sq. Ft.
$1,849,500
ID #SR16748586 – Listing courtesy of Berkshire Hathaway HomeServic
View Details

5 beds/5 baths
6450 Sq. Ft.
$2,100,000
ID #216015078 – Listing courtesy of SG Associates
View Details

6 beds/8 baths
6936 Sq. Ft.
$2,675,000
ID #216015890 – Listing courtesy of Engel & Voelkers, Westlake Village
View Details

There are more listings matching this search View All New Listings

This message was sent on behalf of Chris B. Johnson at Allison James Estates & Homes Elite. Some of the information in this email is copyrighted by the local Multiple Listing Service.

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Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?  

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Moorpark Short Sale Specialist Moorpark Short Sale Help

My Market Insider – Update for June 2016

HyperLocal Updates   Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?  

Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A Home

Dear VenturaCountyShortSaleSpecialist,Local real estate conditions are changing and your Market Insider provides valuable, up-to-date information about the communities important to you. View critical information about what is happening now, so you can be a “Market Insider”!
Market Area: 93021
Listing Price $788,480
Listing Price Trend -0.01%
Sold Price $572,060
Sold Price Trend -1.28%
Just a fraction of what’s happening…
click now to view more local market conditions!
View Market Insider
Buying or selling a home involves many factors. Stay on top of current community trends by viewing these listing and sale prices, demographics, school performance, area comparisons, and more. Of course, you can always call or email for help understanding what this information really means for you.
Featured “Insider Tip”
Article PictureNew App Shows Healthy Home Basics
The U.S. Department of Housing and Urban Development recently unveiled a new mobile app to help educate the public about hidden home hazards that can impact the health of their families. The …
Learn more about successfully selling or buying a home and check out a whole library of tips and articles to help you!
As always, thank you for your time and feel free to get in touch if you have any questions.

Yours truly,

Chris B. Johnson

Chris B Johnson, REALTOR® CDPE, SFR, BPOR, CHS, PSC, CSSN, CDAT

Allison James Estates & Homes Elite

CA BRE 01501699

Office phone: 805.208.0823

Email:      ChrisBJohnsonRealtor@gmail.com

ChrisBJohnson@sellventuracountyhomes.com

Website:  http://www.ChrisBJohnsonRealtor.com

www.sellventuracountyhomes.com

http://ChrisBJohnson.housingtrendsenewsletter.com

http://www.linkedin.com/in/chrisbjohnson

http://www.VCNeighborhoodValues.com


This message was sent on behalf of Chris B. Johnson at Allison James Estates & Homes Elite
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Time To Buy OR Time To Sell Your Thousand Oaks Home?? - CDPE

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A Possible Housing Meltdown? These Experts Respectfully Disagree | Simplifying The Market

A Possible Housing Meltdown? These Experts Respectfully Disagree

We want to let you know that “rumors of a new market meltdown” are not based on any reputable data. As proof, we offer you the comments of the following experts who have a totally different view on the current housing market.

Lawrence Yun, Chief Economist at NAR:

“In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”

Jonathan Smoke, Chief Economist at realtor.com:

“We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”

Andrea Riquier, MarketWatch housing reporter:

“I’m calling the end of the housing “recovery.” On to ‘expansion.’”

Freddie Mac:

“Despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”

Steven Russolillo, Wall Street Journal housing reporter:

“A recent gauge of home builder sentiment held firmly in positive territory, according to the National Association of Home Builders. Perhaps more important, expectations for sales in the next six months jumped to the highest level of the year.”

Fannie Mae:

“Our latest housing tracker shows that the first quarter of 2016 was the second fastest first quarter pace of home sales in the past decade… Home sales typically rise in the spring and summer months, and we anticipate an acceleration in home sales that will surpass 2007′s pace by late summer.”

 

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Moorpark Mortgage Rate Update & Home Value #ChrisBJohnsonRealtor

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Real Estate Agent with Allison James Elite CA. BRE 01501699

Chris B Johnson, REALTOR®SFR®CDPE®, CHS®           What Is My Home Worth?

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Weekly Mortgage Rate Update

 

A wide range of major U.S. economic data was released over the past week covering the labor market, manufacturing, services, and housing. Overall, the data suggested that U.S. economic growth and inflation were a little stronger than expected. As a result, mortgage rates ended the week higher.  

THIS WEEK’S RATE TREND IS UP

Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?  

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Moorpark Short Sales Short Sales Are EXEMPT From Deficiency Judgements

Chris B Johnson, REALTOR®, SFR®, CDPE®, CHS®  

Neighborhood Market Report  Mortgage Pre Approval  Time To Buy A Home

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Oxnard REO Coming To Market                                        What Is My Home Worth?

A California homeowner whose home was underwater asked her bank to approve a short sale of their home and the bank agreed… but under one condition.  The borrower would have to agree to waive her anti-deficiency protection, which means that she would be responsible to pay the difference between the sales price of the home and what was owed.

The homeowner agreed… the home was sold for less than the amount owed on the mortgage… and the bank moved to recover the amount of the deficiency.  And were that all there was to the story, it would seem like just another day of the foreclosure crisis and I’d hardly have noticed it, let alone have written about it.

This time, however, the homeowner turned to the courts, filing a complaint that asked the court to rule that the bank could not obtain a deficiency judgment against her based on California Code of Civil Procedure §580b.  That statute, while it would protect a borrower from a deficiency judgment in the case of a foreclosure, was less clear as to whether the protection would extend to short sales.

SHORT

The homeowner’s lawsuit was subsequently dismissed by the trial court, but the appellate court reversed the lower court’s decision, ruling that §580b did in fact prohibit deficiency judgments after ANY kind of sale… assuming it was a purchase money obligation.  [Coker v. JP Morgan Chase Bank, N.A., 2015 Westlaw —–  (Cal.).]

The bank, of course, also argued that the homeowner had agreed to waive any such protection against deficiency judgments, but the high court responded by stating that contractual waivers of §580b are simply unenforceable.

Frankly, I can’t imagine that ruling happening several years ago, so all I can say about it now is… WOW.  It really does show that things do change, perhaps not as quickly as we’d like them to, but in time.

Next, the bank took the case to the California Supreme Court, arguing that since the facts of the case applied to the pre-2012 version of §580b, the anti-deficiency protections should only apply in cases where a foreclosure sale had taken place.  However, just a few days ago, the California Supreme Court unanimously ruled against the bank’s arguments… and ruled in favor of the homeowner. 

The court apparently based its ruling on earlier decisions, determining that in order to protect homeowners from deficiency liability on purchase money obligations, regardless of whether a foreclosure sale had been held, or not… they had all broadly interpreted California Code of Civil Procedure §580b.

So, that’s that.  Assuming we’re talking about a purchase money mortgage, as opposed to a Home Equity Line of Credit used for other purposes, for example, California homeowners don’t have to worry about a lender coming after them to collect amounts not recouped from the sale of their homes… whether the sale occurred as a result of a foreclosure or short sale.

It seems to me that this is an important victory for California’s homeowners, especially since the foreclosure crisis is nowhere near over in this state… but not all legal experts agree. 

This week, Professor Dan Schechter of Loyola Law School, who was involved in the drafting of proposed amendments to clarify earlier versions of the statute, writing for his Commercial Finance Newsletter, published each week on Westlaw, had the following to say about the net effect of the decision…

“Given the enactment of §580e and the ‘reformatting’ of §580b, I do not think that this opinion will have a major impact in future litigation over the application of §580b, since new §580b and §580e now occupy the field.”

What does any of that mean exactly? 

I have no earthly idea, except to say that to me it means that you should consult an experienced attorney before deciding to take legal action based on this decision, because just like all legal rulings and statutes, it’s not black and white in all respects, or as simple as it appears on the surface.

Banks will be banks…

According to Professor Schechter’s analysis of the decision, the bank also questioned whether such a broad interpretation of §580b would serve to encourage borrowers to strategically default… or even cause borrowers to pay more than the market value for homes, because of knowing they have no risk of deficiency liability in all cases involving purchase money. 

The court declined to weigh in on either of those issues, thank the Lord, only offering that earlier cases in California have “implicitly rejected” both ideas.  Clearly, the intent of the state legislature was to protect California homeowners from deficiency liability related to purchase money loans, and now it’s a matter of law that such protection is in place regardless of whether a foreclosure or short sale was involved. 

The other two points about the potential for such broad protection to encourage strategic defaults… or the equally remote risk of borrowers over-paying for properties, didn’t deserve a response, so I applaud the court for its decision not to respond.

For one thing, both claims represent little more than the same sort of scare tactics we’ve seen in countless other arguments made by lenders since the meltdown began in 2008.  And for another, because there are far too many unknowns that could either limit or increase the potential for such outcomes, neither claim can be asserted with any certainty in the hypothetical.

Professor Schechter, although he sees it a bit differently, arrives at basically the same place, writing in his article dated February 1, 2016…

“I believe that both of those arguments have merit but that the Legislature will never change the rule protecting homeowners from liability, for obvious political reasons.”

Again, that does sound like legislative attitudes have changed in this state, which gives me reason to hope that such changes are still coming, but the bottom-line is that this decision makes clear that California homeowners are to be protected against deficiency liability on purchase money loans… period.

And that simply cannot be anything but a positive thing for homeowners, so I think it’s safe to say that this one goes in the “win” column for consumers, which means the bankers can go home and lick their wounds for a change.

Did that come off as being petty?  Perhaps it was, but after watching the courts butcher borrowers for any number of reasons over the last six years, I can’t help but be happy about the proverbial pendulum swinging towards the homeowner’s side, even if just a little bit.

Mandelman out.

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