Fannie Mae has launched an interactive video simulation tool to inform struggling homeowners about their options and how to avoid a foreclosure. This is very entrancing as I found myself going through the videos over and over and coming to different conclusions each time. Some might find this cheesy but those that are in this situation will find it incredibly informative and helpful.

The video segment is called WaysHome, and the tool is part of KnowYourOptions.com, a consumer site Fannie Mae set up for homeowners who are underwater or having trouble paying their bills or mortgage payments. If this sounds like

It’s a travesty when people lose their homes because they don’t know or understand their options. Homeowners who are proactive about working with their mortgage company, housing counselors, or using consumer tools like WaysHome have a significantly better chance of finding a solution that allows them to avoid foreclosure.

Again the link for this great video is:
http://www.knowyouroptions.com/ways-home#

If you need any help or would like to talk through your own situation please give us a call.

Sincerely,
Danielle Contreras
408.460.1849

Having learned the internet real estate business since 2001 I know what it takes to reach San Jose homebuyers and sellers much like yourself (thanks for reading thus far). My name is David Contreras and I am the newest team member of the San Jose Team.  

Coming from a diverse experience and background makes my exciting career change at the young age of 35 one of my most well thought out plans ever. Simply put, I was always meant to pursue a career in real estate. My own skills and work history have groomed me into the professional that I am today. From helping to build a real estate internet start-up company to online marketing, SEO, and SEM expertise along with building and establishing long-term business relationships and as always customer service, these are all things that have made my career change simple and seamless.

Why, you ask, does this mean you’re going to be good at your new career? In the many hours of studying required to pass my California State test the main point that is always coming up is the fiduciary responsibility we, as realtors, have to our clients during and after all real estate transactions. This means we are always working for and you and your interests. I also have the best mentor and partner any new real estate professional can have. Our Team has the top J.D. Powers rated real estate company working to help us with Keller Williams Cupertino.

With all this support how could San Jose Team not be able to give our clients answers to any and all questions and concerns that come up while they buy or sell real estate. Just ask and we can help. My Cell 408.375.7429

Not long ago (1777) and in a far away place (CA) a city was born. What does one do when the city they live in turns 233 years old? Well I can tell you what we are doing, we will be going to a nice dinner in the city! Maybe take in the views from the top of The 88, a few drinks and some dancing. Makes for a great excuse to go out on a Monday Night.

Before the economy changed in 2008 not many had heard of a Short Sale, and even fewer had known of anyone who bought or sold with this type of transaction. Short sales became the norm when the subprime mortgages began to reset and home values began to drop, leaving about a quarter of American homeowners “upside down,” or owing more on their homes than the homes are worth.

Today I field questions from my buyers as to why the banks have the right to come back and ask for additional funds in order to purchase a property after we have a signed purchase agreement from both parties.

I have to answer “The seller’s bank absolutely does have the right to change the terms of your transaction, even though you have a contract signed by both buyer and seller, and even if you’re a month, two months or six months into the transaction.

Because the banks are not recouping enough from the sale to pay off the mortgage lenders, all lenders with an interest in the house must give their permission for the transaction to close. And many will not do so unless they can get just a little bit more from the deal.

I will always recommend offering $5,000 to $10,000 below market value because as a buyer you will have to make the simple decision on whether you’d still want the house at the cost of $5,000 to $10,000 more, or not. And if your already $5k to $10K below market value that decision is a lot easier.

A San Jose buyer’s agent like myself is skilled at managing buyers’ understanding and expectations of short sales. So try and make sure you run through all the scenarios with your Realtor and know that the banks will most always ask for additional funds to get the Short Sale deal closed.