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Which Celebrity Would You Want As Neighbor

December 29, 2010 By Leave a Comment

Here is a poll that shows who the most  desirable and  least desirable celebrity neighbors are-  I personally like to think that all of  our neighbors are like celebrities but I am sure that we all  have our most desired and least desired, Right?

Americans would like to live next door to Sandra Bullock in 2011, according to the fourth-annual Zillow.com Celebrity Neighbor Survey.

Cast members of the reality TV show Jersey Shore were named the least desirable neighbors.

The Obamas and Sarah Palin took spots on the top 10 lists of both the “most desirable” and the “worst neighbor” lists.

Here are Zillow’s most desirable neighbors for 2011:
· Sandra Bullock
· Sarah Palin
· Ellen DeGeneres and Portia DeRossi
· The Obamas
· Connan O’Brien
· Lady Gaga
· Katy Perry and Russell Brand
· Justin Bieber

Here are the least desirable neighbors:
· The Jersey Shore cast
· The Obamas
· Sarah Palin
· Kanye West
· Mel Gibson
· Charlie Sheen
· LeBron James
· Mark Zuckerberg

Source: Zillow

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Idaho Help For Home Owners

August 9, 2010 By Leave a Comment

If you are currently working with an Idaho loan modification plan we hope that everything works out. If your loan modification is not working or perhaps you are upside down in your Idaho home (mortgage) please seek professional help. Josh is a trained Sh0rt Sale negotiator located right here in the Treasure Valley. Please review the HAFA rules and incentives from Making Home Affordable website. For answers and help with your home call Josh 208-353-7131 or josh@homeswithjosh.com

If you are looking for help selling your home and avoiding foreclosure, the federal government has introduced the
Home Affordable Foreclosure Alternatives (HAFA) Program to help you. As your mortgage servicer, we are
offering you the opportunity to participate in this program by utilizing HAFA’s short sale option.
Home Affordable Foreclosure Alternatives Program – Short Sale
A “short sale” is specifically designed to help borrowers who are unable to afford their first mortgage and want to
sell their home to avoid foreclosure, even if the sale price may not pay off the amount owed on their mortgage. A
short sale requires a number of parties (you, the buyer, your real estate broker, and sometimes mortgage
insurance companies and other lenders) to work together to make this option successful. However, it could be a
good solution for your current situation.
How Does a Short Sale Work?
 Pre‐Sale—We will start by approving a list price for your home or give you the acceptable sale proceeds (the
minimum amount that we must receive after sales costs) from the sale of your home. We will also identify the
sales costs (broker commissions and closing costs) that may be deducted from the final sales price. You then
list your property (like any home sale) with a local real estate broker at the approved price.
 Offer—When you get an offer on your home, you will submit the required documentation and we will approve
the sale if it is in line with what we agreed to.
 Closing—Once the sale closes, we will release you from all responsibilities for repaying your mortgage. Plus,
you will receive $3,000 to help pay some of your moving expenses. (The check will be paid to you by the
settlement agent as part of the closing.) In the event there is any money left over from the sale after paying
the entire amount you owe on the mortgage plus the approved sale costs, you will not be eligible to receive
the $3,000.
To Participate in the Short Sale Program
Please note, there is no guarantee that your home will sell under this program, and you are responsible for
determining whether you want to sell your home for the price and terms described in this letter. The following
pages detail your responsibilities, additional information on the short sale process and the Terms and Conditions.
Additionally, this letter constitutes an agreement between us and you (“Agreement”) so please read it carefully
and completely.

Source:Making Home Affordable

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Faster Short Sale Approvals after B of A Insurance Scam

July 24, 2010 By Leave a Comment

Ever feel like your mortgage servicer or company is just toying with you and your HAMP program- It should be black or white, completely transparent and well let’s admit it– Can I get a loan mod and does it even make any sense if my home is totally upside down (bought at 300k now worth 175k)- Here in Idaho job unemployment rate is still above 9% and not looking to drop drastically anytime soon.  If your loan company is jerking you around please don’t hesitate to call or email Josh with your questions. Idaho’s Best Short Sale Specialist! Read below what the big boys in banking are doing it might make you shake your head–

Bank of America gets caught with their hand in the jar and blames Countrywide.

But doesn’t Bank of America own Countrywide?  Yes!

When Bank of America took over Countrywide in 2008 during the worst housing crash since the Great Depression, according to Bloomberg, BofA absorbed Balboa Insurance.  Essentially, Balboa Insurance…now owned and operated by BofA, is insuring their own bad debt.

What does this mean?  Bank of America’s “Countrywide Loans” that have been defaulted against by homeowners are insured, meaning Bank of America is feeling no pain and actually is gaining from this type of bad debt. Meaning that BofA is in no hurry to sell bad debt.  That’s why there is “Shadow Inventory” and Short Sales are taking so long to approve for sale. There’s no hurry when your making money.

Why Bank of America is gaining on a defaulted loan?  It seems that the Federal Trade Commission (FTC) uncovered ”scamming” on behalf of  “Countrywide” last month.  Remember, Bank of America bought/took over, what ever you want to call it, Countrywide at the Federal Governments request.

What was the scamming?

Countrywide had established Balboa Insurance to cover their home loans gone bad.  In an effort to help defray these losses on bad loans, Balboa Insurance and Countrywide would over charge the now defaulted homeowner for any related services to the default…like mowing the lawns, maintenance of the home, painting, etc…yes, Countrywide in it’s need to make money, charged up to 2 times the amount back to the homeowner for these services.  This is in clear violation to FTC guidelines as it pertains to loan servicing.

So what?

Well, Millions and millions of dollars have been scammed from the clients that they hold a fiduciary responsibility. Kinda like Bernie Madoff screwing his own clients out of their money.   Well, it’s now 2 years later, and Bank of America “Countrywide” division has been caught red handed.  However, no one is being held responsible.  Why?

BofA was helping out the Feds by taking over the Countrywide catastrophe and with that comes immunity.  Above the law stuff…”you do us a favor, no one will suffer.”

Know that BofA has been caught, the new CEO, Brian Moynihan stated earlier this month that they have a “desire” to sell Balboa Insurance.  Desire?  What does that mean?

C’mon…let’s be real.  BofA makes tons of money on bad loans.  That’s why it takes so freakin’ long to get a BofA short sale approved!  That’s why there is “shadow Inventory”!

So what happens next?

As soon as CEO Moynihans “desire” is fulfilled and Bolboa is sold…it should open the flood gates to short sales and release of “shadow inventory”.

It’s good news…however, no one person is held responsible. No one goes to jail.

Do the Feds a “solid” and your protected!

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Foreclosures Down And Short Sales Up

July 23, 2010 By Leave a Comment

Here is an insightful video from  CNBC  and what to expect from the housing market in the months ahead. If you have questions or would like assistance with your home please don’t hesitate to call or email, Josh.

Exiting Home Sales Down

Joshua Groesbeck

208-353-7131 or josh@homeswithjosh.com

www.homeswithjosh.com or www.idshortsale.com

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Idaho Short Sale Process

July 22, 2010 By Leave a Comment

Goal:  Avoiding Foreclosure

The following are the steps that you as a homeowner can anticipate in the short sale process.  This is a general outline of how the process occurs, however please note that lien holders can change the order of some of the steps.  Detailed below is the process our team uses to process a short sale.  For a brief overview please see. www.homeswithjosh.com and look under Short Sales

Pre-Listing

1.
Please contact Josh’s office for a brief consultation about short sales.  Josh or one of his team members will collect some basic information about your situation.
2.
A tentative appointment will be scheduled to answer questions and/or list the home for sale in the short sale process.
3.
Josh and his team will prepare a short sale packet which will be sent to you either via FEDEX, regular mail or email.  We provide a thorough packet of information in advance of the appointment so you have the opportunity to evaluate our process and have your questions answered in advance.  If what we send you and what we discuss prior to the appointment makes sense and you feel comfortable and confident to go forward with the short sale process, our appointment will be confirmed. The packet will include:
*
Information about the short sale process.
*
Market data on the value of your home in today’s market.
*
Recommended short sale pricing.
*
Listing contract and related forms.
*
Property detail report from the county assessor’s office.
4.
The appointment.  Josh will either come to your house to receive the documents or they can be returned via fax or email. We can do listing appointments via telephone or email if necessary.
5.
Once we receive a signed listing agreement we will begin the short sale process.
6.
An authorization form will be submitted to your lien holder(s) enabling us to speak to them on your behalf.  Unless previously provided, the lien holder(s) will provide their short sale requirements when the authorization is received.

Marketing

1.
Your home will be listed immediately on the Multiple Listing Service.
2.
We will market your home through various affiliated web sites and all other applicable marketing strategies.
3.
During the marketing period we will receive offers and present them to you as they are received.
*
Offers will be presented to you on an offers spread sheet.
*
You will be able to see the net offers as they come in.  We highlight, in yellow, the current highest net offer.
*
You will sign the purchase offer of your choosing.  We will advise you as to what appears to be the strongest offer.  We will encourage you to consider two important factors; price and the willingness of the buyer to wait for the short sale process to complete rather than back out in the middle of the process.
4.
You will select and sign the offer that is most likely to meet the lien holder(s) criteria for a short pay off of your loan.

Short Sale Processing

1.
After you select an offer it will be signed by you and presented to your lien holder(s).  This is the official beginning of the short sale processing phase.
2.
You can track your short sale offer, as it is processed, online at Short Sale Status.
3.
The offer and all documentation required by the lien holder(s) is submitted by our office to the lien holder(s).
4.
Documents go through a processing period and are assigned to a negotiator.  The lien holder(s) assign a negotiator to your file.  The negotiator will ultimately make the final decision about your case.  The negotiator will review your offer and present the offer to any investors into your loan.
5.
A BPO (Broker’s Price Opinion) or appraisal will be ordered by the negotiator.  This BPO is used to determine the value of your home and whether or not the net proceeds of the offer are sufficient to satisfy the investors and thus provide a short pay off of the loan(s).
6.
The negotiator will evaluate your financial situation to determine whether or not you qualify for a short sale.  The offer will be presented to the investors who are invested into your loan.  They will decide if your short sale is approved or not.
7.
The negotiator will report the response of the investors.  There will be one of three options:  Short Sale Approval, Short Sale Approval with Conditions or Denial.  If any other answer then Short Sale Approval is provided we will negotiate further on your behalf.
8.
After all negotiations are complete you will either accept or reject the terms of the short sale.
9.
Written short sale notification is delivered to the buyer’s agent and Escrow begins.

Escrow

1.
Escrows in short sales generally follow the same process as a regular escrow.  One difference is that the short sale approval has a “good through” date by which time the short sale must be finalized and escrow must be closed.
2. When escrow begins you will need to make plans to be moved out of the house by the close of escrow.

Josh Groesbeck

208-353-7131 or josh@homeswithjosh.com

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Still Time For Home Buyers Tax Credit

March 21, 2010 By Leave a Comment

There is still time to get the home buyers tax credit. Below you will find how to claim your $8,000 First Time Home Buyer Tax Credit also don’t forget about the $6,500 tax credit for exiting owners. This may be a shameless plug but if you can or interested in buying you should really look at the benifits.

  1. (of course) $8,000 to you the home buyer from the IRS. Kind of cool
  2. Outstanding interest rates on home loans.
  3. Add the really low home prices and you have something that has never been around before, most likely the best time to purchase a home.
  4. Buy a home in areas that you never though would be affordable!
  5. Call Josh Groesbeck 208-353-7131 today and he can help you find financing and a home- You now have the ingredients for your home owning dreams and the time is Now so take advantage.

*  The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
* The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
* The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
* The tax credit applies only to homes priced at $800,000 or less.
* The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
* For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
* For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

* To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
* The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
* The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
* The tax credit applies only to homes priced at $800,000 or less.
* The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
* Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
Thank you for reading the real estate blog and please fee free to contact Josh Groesbeck 208-353-7131 direct for all of your real estate needs.

Be sure to visit www.homeswithjosh.com to search the Intermountain Mls and view all homes and land that are on the market. Call or email josh@homeswithjosh.com to set up appointments to see properties located in Boise, Eagle, Meridian,  Nampa, Caldwel, Middleton,Star and Kuna.

Source: CNNMoney.com

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Idaho Home Buyers Out Early This Spring

February 1, 2010 By Leave a Comment

Most often we will see the spring buying take off in March and run through May. This year however if first time home buyers are looking to take advantage of the $8,000 tax credit and up to $6,500 for repeat buyers they must have their home under contract by April 30th 2010. The deal must be closed by June 30th 2010. Sales are really going to escalate in February and March with April being the month of a serious rush. My concern is that there are the repeat buyers out there that are not taking advantage of this golden opportunity or not realizing that the window is going to be open and shut really soon. My suggestion is if you are a move-up buyer then you better get moving because of trying to coordinate dates to close on multiple properties can be complex not mention there is about 4 months to make your move. My suggestion is to be one the Idaho home buyers out early this spring.  Check out www.homeswithjosh.com for more Idaho real estate information as well as to search the Mls.

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