Archive for the ‘California’ Category

Will A Property Manager Rent To Me With Bad Credit?

Monday, February 6th, 2012

Hello, this is Mark Peek with Keller William’s Real Estate; I am your short sale specialist in the Sacramento area. Every year I help people avoid foreclosure by short selling their property and I’d like to help you, also.

Recently I’ve had a great deal of people call me that are late on the mortgage payments and thinking about doing a short sale, however they’re worried that their bad credit, caused by their missed mortgage payments, will keep a landlord from renting to them. Many are concerned that property managers will not even talk to them. In the past there has been an idea that you had to have good credit to be able to rent since most property managers run a credit check on you. However, with the way the real estate market has been lately, lots of people have dings on their credit from foreclosures, short sales, liens, medical reasons, etc. Because of the poor real estate market recently and the fact that so many homeowners have had to either go through foreclosure or a short sale, landlords and rental property managers are aware and are willing to work with individuals to help them obtain an appropriate and affordable place for them to live. There’s no need to worry that doing a short sale on your home is going to negatively affect you finding a place to rent after your house is sold.

If you have any other concerns about renting a property after a short sale, or have questions or want information about anything else pertaining to real estate and short sales, please call me today. I’m here to help you find the right solution to your complicated financial situation and can provide you with the experience and know-how that you deserve when it pertains to short selling your house.

For more information on short sales and how to avoid foreclosure, or you can also and get started today.

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Bank and FHA Loan Foreclosures Shifted Builders’ Focus

Monday, May 9th, 2011

The rise in the number of bank and seemed to have eroded some homebuilders' confidence on single family homes and regular houses. Housing data in California showed that a big number of building plans in areas like San Diego County are focused on rental properties, apartments and condominiums.

Local analysts have claimed that the huge amount of may be part of the reason for homebuilders' change of focus. Reports revealed that around 70% of future construction projects in San Diego County are expected to be comprised of condo and apartment buildings and townhomes. For residents of the county who are looking for new single family dwellings and regular houses, most of them might have to conduct their search at Southwest Riverside County.

In Southwest Riverside, the decline in housing prices was only partly attributed to the surge in the supply of . Vast spaces available for residential development and easier regulatory policies covering real estate projects were also cited as reasons for the downward path of residential prices. In this part of the state, analysts estimate that more than 80% of future construction projects will be accounted for by traditional residential homes.

In San Diego County, the housing market was hammered by tons of bank and FHA loan foreclosures. Coupled with expensive building permits and high demand for rental dwellings, analysts asserted that it is not surprising that builders are moving away from traditional residential building. According to them, builders seemed to have shied away from the idea of building single family houses, particularly when prices of residences in the county plummeted by 37% in February of this year from the peak price of $427,500 recorded in 2005.

Analysts further stated that it is not only builders who got burned when single family started reaching record highs, but also homebuyers; with majority of them believing that investing in single detached houses will not be a sound idea. These factors, analysts have asserted, pushed a lot of would-be buyers towards condos, while others opted to rent apartments instead of buying a home.

Housing experts also noted that even those who still prefer to purchase single family dwellings but have fallen victim to bank and FHA loan foreclosures do not have much option since their purchasing power was taken away from them when they lost their homes. Experts added that these victims of foreclosure have mostly moved into rental dwellings.

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