Bank Owned condo in the heart of Mission Valley right accross from Fashon Valley Mall. This is truely a one of a kind property that you must see! This property is in the Abbey complex in Mission Valley. Even though it is a condo it feels like it is a large single family home. It appears to have been several untis that were converted into 1 large unit. It has no common walls with any other units in the complex. It sits on a corner lot with a great view. Assessor says property is 2,480 SF condo with 5 bedrooms!

We sent our appraiser out to do a rough calculation of the square feet for this property and it appears to be 3,500+ square feet. Please review some of the information about what this property offers. Here is what I have complied to give you a better idea of how someone may look at this property if they were considering a purchase. Master bedroom 17 x 16 = 272, Bedroom next to garage with window 13 x 12 = 156, Small room off the stairs 15 x 8 = 120, Small bedroom next to small room off the stairs 15 x 10 = 150, Large Bedroom upstairs on top floor 20 x 15 = 300, Main family room off 22 x 22 = 484, Main dining room off entry 12 x 12 = 144, Main kitchen 12 x 12 = 144, Additional living room next to main kitchen on 1st floor 17 x 12 = 204, Additional dining room next to living room on 1st floor 16 x 11 = 176, 2nd family room upstairs in small studio granny flat 22 x 19 = 418, Kitchen in granny flat 9 x 8 = 72, Total of Approximately 2,640 Square Feet In addition to this square footage, there are EASILY another 1,000 + square feet in bathrooms, closets, stairs, and hallways. This count 4 usable bedrooms, 5 full bathrooms, 1 room that you walk through to get to other room that is optional room, 2 family rooms, 1 living room, 2 kitchens, 2 dinning rooms, 2 car garage. This is truly one of the most unique properties I have every seen. In addition this unit features a very large backyard with private spa, views of Mission Valley, Golf Course. It will need to have some upgrades including new carpet, paint, appliances. Appliances appear to be original. We don’t know much about this property but from talking to other neighbors int he complex, it appears that many years ago the previous owner pruchased both units in the building and had the city planning department remap the condo map to make it one large unit. That is why you have a very large unusual unit that features 2 kitchens, 2 seperate entrances, 2 large living areas, 2 different decks and 1 large backyard that. Please feel free to view all of our current bank owned foreclosures by visiting our San Diego foreclosure information section.

New Bank Owned listing we have taken in the Ramona California area. We just listed this home in the Ramona area for $325,000. It has a great lot, it’s close to everything in Ramona right off of the main boulevard that runs through it. Great location in the heart of Ramona. The previous owners from what I have learned went through a divorce and left the property in bad condition. It appears that it was in the middle of having some work done to it to fix it up and it was just stopped in the middle and not completed. It’s a great opportunity to buy a large lot in Ramona. Property is on large level lot with front gate.

Has large 2 car garage connected to house. Also has carport on other side of home that you can park 2 cars under and plenty of space in the front and back yard. You really need to check this out and make sure you take a look at this property if you are looking for a nicehome with large lot in the Ramona area of San Diego County. We are available to show this property at your convenience. We have had a lot of interest in it so please call as ASAP today! To view other bank owned property, please view our Foreclosure Property’s for sale in our foreclosure section.

View San Diego Foreclosures for sale at the following page San Diego Foreclosures.

Bienes Raices en San Diego

Existen tres niveles de propiedades en el Mercado de propiedades con diversos niveles de problemas:

A - Short Sale. El dueño debe más de lo que vale la propiedad y pretende entregar al banco lo que pueda recuperarse de la venta. El diferencial entre lo que debe y en lo que se vende es una pérdida financiera para el banco pero fiscalmente entrega un 1099 – ingreso extraordinario al vendedor para que pague impuestos sobre el perdón de esa deuda, el banco deduce fiscalmente. Comprar este tipo de propiedades resulta incierto y largo, normalmente encontraras propiedades dañadas. El banco se resiste a perder dinero y centraliza el proceso; sus decisiones son tardadas y al final de cuentas puede decidir no venderla… solo perdiste el tiempo.

B - Foreclosure. El banco inicia proceso legal para reposeer una casa y venderla. Hay evicción del dueño y las propiedades están aun mas dañadas que las de arriba mencionadas ya que la gente esta enojada y no tiene mas que perder. Es común encontrar que se llevaron refrigerador, lavadora, secadora, alfombras quemadas o dañadas, etc. El dueño es afectado fuertemente en su historial de crédito, el banco busca perder lo menos y sus procesos son tardados.

C - REO – reposeídos por el Banco. El banco se convierte en el dueño de la propiedad y es quien directamente vende a través de un agente o broker. El banco ya lleno mucha parte de sus requisitos para documentar la perdida y acepta vender a un precio que fue ponderado por ellos. Saben que perderán dinero y quieren rápidamente convertirlo en dinero – lo más que puedan pero lo más rápido –

D - Esta categoría implica tomar ventaja de la presión de casas con problemas, para comprar una casa buena a buen precio sin tanta complicación.

En lo particular veo más oportunidades al buscar comprar tipo REO – Reposeídos por el Banco -o tomar ventaja de las condiciones del mercado para negociar directo con dueños. Es mejor negociar con dueños que con bancos.

Veo que dependiendo de la zona, hay oportunidades donde puedes comprar a precios similares casas ACTIVAS convencionales a las que tienen problemas. Acuérdate que la ley inmobiliaria dice LOCATION< LOCATION< LOCATION. Si buscas comprar en zona deseada, más improbable encontrar una ganga como la que se presenta en un área no deseable. Ejemplo: Del Mar contra Imperial Beach. Fashion Valley contra Logan.

También se promueve mucho la venta en AUCTIONS; hay muchas cosas que no te dicen.
El precio de venta se incrementa un 5% de comisión por comprar – ojo cuando compras tu no pagas comisión pues el vendedor de la casa es quien paga y de ahí sale el 3% que gana tu agente!!!

En Auctions compras AS IS, igual que cuando compras un carro usado, si te sale limón, con limón te quedas.
Las casas promovidas a precio increíble, seguramente es porque están en pésimas condiciones y requerirás invertir mucho dinero para ponerla en condiciones funcionales. Tienes el riesgo muy elevado ya que pretendes una utilidad importante.

Alto riego, alta utilidad y quizá sin control del estado de las cosas.

Bajo riesgo, menor utilidad pero con control de las cosas

Como profesional en esta industria, estoy convencido que depende del interés particular y la zona de confort de la persona, es el traje que sentará mejor al cliente. No hay receta, hay trajes a la medida. Un volado de 500k para algunos será no trascendente, para otros es el proyecto de su vida.

Quienes experimentan un quebranto seguramente no quieren cometer el mismo error y volver a perder dinero. Pero siempre hay primerizos que se echan a la mar sin saber nadar.

Quienes compran Foreclosures son personas que saben lo que hacen, tienen dinero para especular, saben evaluar de un vistazo – ese es su expertise -, tienen gente y ellos saben hacer los trabajos necesarios para reacondicionar las casas, tienen el tiempo para investigar y tomar ventaja de las condiciones del mercado. Competir contra ellos es igual que ir como particular a comprar un carro al remate y competir con un mayorista. Difícil salir bien librado.

Espero haber sido ilustrativo. Si tienes dudas, por favor pregúntame lo que desees.

Saludos

Manuel Muniz
Bienes Raices en San Diego
Realtor & Mortgage Consultant
Cell: 619-370-7473
Fax: 619-489-2669
Email: mmuniz@axiasd.com
Web Page: Bienes Raices en San Diego

Documentation Needed For a Real Estate Short Sale

Realtor:
- Letter of Authorization (signed by seller)
- Letter of facts about the property
- Market analysis
- Photo’s (not the glamour shots)
- Copy of all showings with dates and feedback
- Copy of Listing Contract
- Copy of Purchase Contract (if applicable)
- Review letter of hardship
- Send to Loss Mitigation Department

Seller:
- Two years tax returns with W’2s
- Three months bank statements
- Current monthly budget
- All mortgages with account numbers
- Any pending bankruptcy
- Hardship letter (make them cry)
- Last 30 days pay stubs (if applicable

We handle short sales in San Diego County. Call today to discuss your options and the possible ways to avoid foreclosure.

San Diego Real Estate Update

What is the real estate market like in San Diego compared to the rest of the country? If you want to sell your home this may not be the best time to do so, but if you are looking to purchase a home in San Diego there couldn’t be a better time to take advantage of a market that has been a roaring beast over the last 10 years.

San Diego is experiencing a slow down just like the rest of the country is experiencing but it still remains a much stronger real estate market compared to others. When you compare the other real estate markets to San Diego you will find that San Diego remains much stronger compared to others because employment remains strong in the county. When I look at San Diego I think of these different things that are a big part of the economy.

1. The Military – You can’t think about San Diego and not think about the military, the Navy, Marines both have a very large presence in San Diego County at several different bases.

2. Tourism – San Diego is a huge tourist attraction for people seeking some beach and sunshine!

3. College School System – We have San Diego State, UCSD, USD, Cal State San Marcos among others where thousands of kids escape to San Diego to get away from their parents which brings thousands and thousands of kids to San Diego economy.

4. Bio-tech / Pharmaceutical Business – Many people don’t realize how much research and development is done in San Diego.

These are just some of the different industry’s that bring a tremendous amount of revenue to San Diego’s economy. The reason I bring this up is to show you that San Diego has different industry’s that continue to keep the economy strong. If you really want to own a home in San Diego then take advantage of this market and purchase something. I don’t expect to see home values stay flat for much longer then the remainder of 2008 and many markets in San Diego are still appreciating and slowing going up in value.

You may also want to consider purchasing a foreclosure and we can help you with that. We work with many different banks and have many different foreclosures for sale in San Diego. Please visit our foreclosures for sale section to view the entire inventory of foreclosures for sale in San Diego County.

Carlos Aguilar is a licensed realtor in San Diego. He has been licensed since 1972 and is an expert in Residential real estate in San Diego county. In addition to residential real estate, he is an expert in Commercial Lending for income property.

I have assembled a list of questions that I receive from my clients prior to me helping them with a real estate short sale or help them avoid foreclosure. I hope this helps you understand what I am here for and how I can help you avoid foreclosure. I specialize in real estate short sales. Please contact me with any additional questions.

Answers to common Real Estate Foreclosure Questions

Q. Why should I trust you to help me?

A. I know at a time like this it is hard to trust anyone other than your family. I will earn your trust by doing things to help you. If you will give me the chance, I believe that actions speak louder than words.

Q. I tried to sell my home and I owe more than they are selling for?

A. I know the market is tough for sellers today but there are so many options for you to consider.

Q. I can’t even sell my home for what its worth, how would I ever pay you?

A. Well in most cases if you would consider a Real Estate Short Sale I would be paid by the bank or mortgage company. Remember the last resort would be to just let it go. I also might be able to recommend you to someone in my professional team to further advise you.

Q. If I sold my home where would I get the cash to satisfy all parties?

A. Good question, Most of the time you will be far better off owing a small deficiency rather than the whole amount. At this point am I safe to say you don’t have any money at this point to apply to any deficiency? The banks do not want to foreclose however they will do what they have to too get their money back.

Q. Why should I sell my home just so you can make a commission?

A. The answer is simple, I don’t want to just sell your home to make a commission, I have a better reason and that is I make a living by selling homes and helping people buy them. But a long time ago I realized that I made a lot more money and friends by doing the right thing for each and every client. You see I have helped several people in your situation avoid foreclosure and not always did we sell their home.

Q. What kind of guarantee can you give me that you will be able to sell my home and get me out of
this situation?

A. I could or would never give anyone a guarantee, but what I will do is assure you that I will do every
thing possible to help you find the best alternatives to your situation. I will also work directly with the
banks and others to get them off your back. I have a high success rate in dealing with the banks as well
as get you top dollar for your home.

Q. If I sell the home how will be able to move?

A. If you are referring to money, remember to save the payments you would have paid to the banks while we are in the selling process. That should more than cover moving costs as well as other related costs of moving.

Q. Aren’t you just like everyone else, you just want to stick your hand in my pocket?

A. NO. I actually want to offer my assistance in any way I can. The first thing I want to tell you is
something you may not know. Do you know all the ways you can stop a foreclosure? I do and I want to
share them with you.

Q. I have called the bank and they won’t help me?

A. All they want is paid and paid on time. I have a way with the banks that will help you in the long run. I also have an entire list of Government and non-profit agencies that might be of assistance. I have seen some cases where they will help with some of the past due payments so you don’t lose your home.

Depending on what your real estate needs are, you can view our Real Estate Short page here @ this link Real Estate Short Sale For information on San Diego CA Real Estate contact Carlos for San Diego Real Estate.

Carlos Aguilar
Team Aguilar
San Diego Foreclosure Information

Real Estate Short Sales

We specialize in real estate short sales in San Diego County but also have experienced real estate agents throughout the country that we can refer to you.

Right now we are experiencing market conditions that are making Real Estate Short Sales very popular. Over the last few years you would never hear or talk about a short sale because your home had gone up in value and you would not be faced with a loss due to having to sell your home.

Now that the real estate market has slowed, and homes are not going up in value like they once did, you are hearing people talk about real estate short sales.

In case you didn’t know; what is a Real Estate Short Sale? To keep it simple, a Short Sale is when you sell your home for less than what you owe your mortgage company.

When does a short sale make sense? If you need to sell your home because you can’t make the mortgage payment or you need to move because of uncontrollable circumstances, then you should consider a short sale. Banks are very reluctant to do a Short Sale and do not make this an easy process. If you want to do a short sale, you have to get approval from the bank. It is not something they will allow everyone to do. The process you went through to get approved for your home mortgage, you will need to go through a similar process but this time showing the bank that you have no way of continuing to make your mortgage payment.

Depending on your situation, it may or may not make sense to do a short sale. We can help you understand and determine what all of your options are if you give us a call.

We want to see you make the right decision and we will help you do what makes the most sense for you, not for us. The most frustrating thing that we deal with in this market is the vultures that seem to surface every time someone has a difficult time with their mortgage payment. We want to warn you of these Real Estate Scams, Short Sale Scams and people offering to help you get rid of you home, or offer to have you sign the home over to them in exchange for money. Don’t do it, don’t sign anything. I can’t tell you how many horrible situations we see people get into because someone was looking to take advantage of an unfortunate situation.

After reading this you will ask yourself why we do this, I am sure they want to make money as well.

Yes, we make money but we make a reasonable real estate commission just like any other agent that would help you sell your home. We don’t have you sign your home over and then flip it, or rent it out to someone else and collect rent payments while it goes into foreclosure over the next few months. We have experience that goes far beyond your typical real estate agent. Our President, Carlos Aguilar has years of experience helping people with short sales. He has worked on the other side working in the loss mitigation and REO departments for several large institutions and knows exactly what needs to be done to complete a real estate short sale.

If you are experiencing difficulty making your mortgage payment, please call and speak with us about the possibility of a real estate short sale.

We have been working with banks for years and have helped hundreds of people complete a short sale from start to finish.

Carlos Aguilar
Team Aguilar
Real Estate Short Sale options in San Diego.

What are you waiting for? There is not a better time then right now. Spending as much time out in the market as we do, you can quickly see that it has become a buyers market. Over the last few years the real estate market has been very strong and it has allowed homeowners to capitalize on their gain in value. It was not long ago when all you needed to do was put a for sale sign up in front of your home and you would have it sold in a few weeks if not sooner. This made many real estate agents think that it was easy to make money selling real estate.

With the real estate market in San Diego and most of the country taking a downward turn, it is now time for buyers to start calling the shots!!! Homes for sale may only receive 1 or 2 offers and sellers will be much more likely to accept your offer. With the market being much more attractive for buyers, you need to take advantage. The question you may ask is what do I purchase and where? Well, purchasing real estate can be fairly difficult and knowing what the best market to purchase in may be difficult.

Some of the markets in San Diego that are strong and will continue to remain strong are the Carmel Valley, Del Mar, Downtown areas of San Diego County. Many of the areas that have prices in the lower range which would be considered suitable for 1st time home buyers will also be very attractive and a strong area to purchase in.

What we will do here at Team Aguilar is look at what your needs are and find out what makes the most sense for you. If you are buying your fist home you will have different needs then if you were looking to purchase for investment.

Whatever your needs may be, the key is to get in the real estate game and purchase some real estate. This is the time and may be your best opportunity to do this.

Also, please consider some of the Bank Owned real estate that we have for sale in San Diego. We work with many different banks and have access to Bank Owned real estate for sale in many different markets. Please make sure you consider this option before purchasing anything.

Carlos Aguilar
Team Aguilar
Purchase Bank Owned Real Estate in San Diego

When you are facing a difficult situation and feel that you may not be able to keep making your mortgage payments you need to act quickly because you may have some options. Many people do not fully understand the foreclosure process and do not realize that banks do not want to be in the business of owning real estate. They are more likely to work with you and try to work something out instead of taking your home.

If you want some advice or assistance selling your home or understanding what your options may be, please call us. Here at Team Aguilar we have helped thousands of clients work through a difficult situation.

Some of your options to consider are

- Selling You Home
- Negotiating a Forbearance
- Doing a Short Sale
- Refinance Your Home

Some real estate scams you need to be careful of, don’t sign anything and don’t allow anyone to tell you that they will help you out and take away your problems. The reality is that many people take advantage of people in a tough situation.

Make sure you call or email Team Aguilar if you have any questions.

We will be happy to provide you sound advice and discuss what you options are.

Thank you,

Carlos Aguilar
President
Team Aguilar
Helping people avoid foreclosure by providing them a real estate short sale to sell their home.

As all of you have heard the real estate markets are struggling in many areas of San Diego. This is due primarily to the other hot topic in the news: Sub-Prime Lending. Unfortunately many homeowners in the last few years have fallen victim to the frenzy in the lending market that encouraged homeowners to buy or refi using a loan that starts with a low rate and then, at the end of its initial two year period, begins adjusting. During the first five years of this frenzy rates were low and it didn’t matter when the loan reached that first adjustment. Today we are in a different Interest Rate market and many borrowers are finding that first adjustment is causing their payments to be out of their reach. This in turn is the reason why we are hearing so much about Foreclosures. It is unfortunate for many that are losing their homes, however the reality is that this also creates opportunity for many investors.

As many of you know I have spent years managing and disposing of foreclosed properties for banks and lenders. The number of available foreclosed homes is growing and the prices are dropping. During the last 7 years, many of you would call me and ask about buying a foreclosure and I would tell you that it was very rare to find a foreclosure in this market because there were so many buyers for every home that came on the market. This has changed and we now have growing lists of condos and single family homes.

Remember, as with any investment, the time to buy is when the market is Down and Sell when the market is up. You may remember the early 90’s when we saw a record decline in real estate prices in San Diego. Many of you also took advantage of that market and purchased property that we sold 5 years later at double and even triple what you paid for. While no one can predict the future, we can make decisions based on what we have seen in previous markets. We are heading into another similar market as the 90’s and if you have an interest in investing in this market this is the time to do it!

Real Estate California