3 Bed 2 Bath 1380sf Private Back Patio $179,900

This is a Standard Sale!!! 12 hour turnaround to all offers. This 3 bed, 2 bath, 1380sqft home is located within walking distance to grocery stores, elementary school, Old Town La Quinta, Community pool and tennis. Home features beautiful tile in bathrooms and dark laminate flooring in common areas,re-textured walls and venetian plaster in living room, granite counter tops, under mount sinks, mosaic back splash, fresh interior & exterior paint, ceiling fans, french door in master, double pane windows, carpeted bedrooms, front & back yard landscaping, stainless steel appliances, epoxy flooring in garage, and swamp cooler!!! Take advantage of low utility bill's in Imperial Irrigation District... and best of all, NO HOA DUES!!!

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Foreclosure Sales Continue to Plummet in March

For the second month in a row we've seen a dramatic drop in the number of properties sold at foreclosure, or "trustee sale", auctions. Foreclosure sales in California are down 16.7 percent from February to March 2012 and down 53.1 percent from March a year ago. A total of 86,487 sales were scheduled to occur in California, but of those 80.0 percent postponed, and 10.6 percent were cancelled, leaving just 8,392 that were actually sold. Third parties, typically investors, purchased a record 38.6% of the properties that did sell in California.

Foreclosure starts rose in most states, with the largest increases occurring in Washington, California and Nevada. This, at least temporarily, reverses a downward trend, but even with the increase the volume of new foreclosures remains significantly down year-over-year in all the states we cover.

The increase in foreclosure starts is especially interesting in Nevada. Bank foreclosures came to an almost complete halt there after the passage of Assembly Bill 284, which made significant changes to Nevada's foreclosure laws. The increase this month is directly attributable to new foreclosure starts by Fannie Mae, which is one of very few lenders to have filed any new foreclosures in Nevada since September 2011. Even with the increase by Fannie Mae it is still homeowner associations that are initiating the vast majority of foreclosures in Nevada.

* This information was taken from Foreclosure Radar's March 2012 Foreclosure Report. You can find more details at www.foreclosureradar.com. 
 

Locking in peace of mind

Mortgage rates are near historic lows, but they are rising, leading some borrowers to consider locking in their rate.  When borrowers lock in their interest rate, it freezes the terms of the loan while it is being processed, potentially saving borrowers thousands of dollars over the life of the mortgage.

Making sense of the story:

• Locking in a rate may be especially important for those who are refinancing, where even a quarter of a percentage point could skew a borrower’s calculations and make a refinancing less financially desirable.

• Rate locks can provide buyers with some peace of mind, not to mention one less thing to think about in an otherwise onerous application process.

• Lenders typically will give loan rate guarantee agreements when a borrower has a purchase agreement, but a few will provide them to those who are preapproved for a mortgage.

• The cost of reserving an interest rate depends both on the duration of the lock and the amount of the loan.  The longer the lock, the more costly it is.  Most locks are for 30, 45, or 60 days, but some lenders will go as long as six months.

• Most lenders offer some version of a free lock, though it may be only for 30 days. Others charge points – or fractions thereof – based on the loan size, which could amount to several hundred dollars.  One point is equal to 1 percent of the loan amount.  Sometimes these charges are refundable at closing.

• Borrowers may want to skip a rate lock, or delay taking one, if they are unsure when their home purchase will close.

• Knowing how long to lock in a rate requires a clear picture of the mortgage process, and a good estimate from the lender on how long it will take to approve the loan and complete all the paperwork and other requirements. For some lenders handling refinancing, this can be 15 or 20 days; others take longer.

La Quinta Cove home w/ Pebble Tec Pool. 3 bed 2 bath 1390sf. Listed at $194,900.

This is a Standard Sale!!! 12 hour turnaround to all offers. This 3 bed, 2 full bath, 1390sqft home is located within walking distance to grocery stores, elementary school, Old Town La Quinta, community pool and tennis. Home features beautiful tile and dark laminate flooring, granite counter tops, mosaic backsplash, fresh interior & exterior paint, ceiling fans, double pane windows,carpeted bedrooms, front & back yard landscaping (with smart timer installed by CVWD), stainless steel appliances, epoxy flooring in garage, Spanish pavers on back patio, pebble tec private pool with waterfall feature and more!!! Take advantage of low utility bill's in Imperial Irrigation District... and best of all, NO HOA DUES!!! Seller financing available.

CLICK HERE for additional photos.

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New jobs & Refinancing... What comes first?

Homeowners considering finding a new job and refinancing a house may be wondering which task to take on first.  According to mortgage experts, homeowners should complete their refinancing before making any major career changes, especially if they are planning to start their own business or become an independent contractor, in which case, income may fluctuate.

Making sense of the story:

• During the refinancing process, homeowners may find that actively looking to leave their current job may impact how the bank views giving them a mortgage.  The search will raise a question mark about their future employment and their ability to pay the mortgage.

• In addition to checking employment at the start of the application process, many lenders will verify such information as late as the last 72 hours before mortgage closing.  If they learn a borrower is starting a new job in the very near future, the mortgage can be delayed or even derailed.  And borrowers who withhold such information could be committing income fraud.  Other lenders, however, say they make loans based on a moment-in-time snapshot of a borrower’s finances.

• An advantage to refinancing first is that the borrowers are freeing up additional cash flow by reducing their monthly payment.

• All that said, however, there are advantages to refinancing later, especially for those who might have to relocate when they change jobs.

• A person may get a new job with more income, which may help him or her qualify for a larger mortgage, or even better terms.
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3 bed, 2 full bath, 1258sqft home 1 block from Montezuma $159,900

VIEWS VIEWS VIEWS!!! 1 block from Montezuma and Bear Creek hiking trail. This is a Standard Sale!!! 12 hour turnaround to all offers. This 3 bed, 2 full bath, 1258sqft home sits on an over sized lot 6096sqft and is located within walking distance to grocery stores, elementary school, Old Town La Quinta, community pool and tennis. Home has been completely remodeled and features beautiful new flooring, stone counter tops, new interior & exterior paint, new ceiling fans, double pane windows, new carpet, new front & back yard desert landscaping (with smart timer installed by CVWD), new door hardware, new stainless steel appliances and more!!! Enjoy completely enclosed back yard with private patio. Take advantage of low utility bill's in Imperial Irrigation District... and best of all, NO HOA DUES!!!

 CLICK HERE for additional pics.

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