Monterey Peninsula Homes
Not everyone can live here which is great for those of us who can. No where else in the world can you get this mix of climate and geography and get to be in the United States at the same time. We are just this little bitty speck of land and sea. And, all within a half day drive or less of the major job centers of San Francisco, Silicon Valley, Sacramento, and Los Angeles yet without the traffic, smog, congestion, and fast-pace. We are close to it all with that precious sense of being away from it all.
You can have pristine shorelines, piney forests, mountain tops, warm valleys, gently rolling oak-studded hills, sweet little villages, big fancy estates, ranches of thousands of acres to just under a few, cozy cottages, and wonderful homes in safe neighborhoods for raising your family as we get to do here with ours. Truly when the gods were handing out goodies, they chose to bless the Monterey Peninsula with extra helpings. Peace, grace, and beauty are yours every day on the Monterey Peninsula.
I began my real estate career in 1986 at the age of 21 as a mortgage loan processor for GMAC Mortgage and then became a loan officer in 1990 for Wells Fargo. During the refinance boom of 1992, I left Wells to work at a small mortgage brokerage, and worked at several other brokerages over the years. In early 2005, I became a Realtor and then chose to focus exclusively on sales a year later. With my extensive mortgage lending background, and historical perspective on mortgage interest rates and real estate market cycles in California, I successfully kept my buyers out of trouble by insisting they take out 30 year fixed mortgages. It was clear to me that the entire industry was headed for disaster and the only intelligent way to buy was with a long-term fixed rate product. I protected my clients. It was also in early 2005 that I began to study the foreclosure process in anticipation of what I believed would soon be the largest foreclosure situation in history. As a result, I have been able to negotiate very good bank owned property purchases for my buyers.
DIGNIFIED EXIT: Banks are seeing more and more people strategically default on their mortgages, in other words, choose to stop paying on their mortgages due to finances and/or falling home prices. To prevent this, many banks are now utilizing the Realtor network to successfully help people sell for less than they owe through a short sale. This process is getting easier and helps the homeowner avoid the stigma and financial/credit/tax ramifications of a full foreclosure. Many banks are even helping the homeowner with relocation expenses. Most telling, most banks are allowing people to do a short sale no matter how many other assets and property those people may have. Therefore, this new brand of short sale is a dignified exit for the homeowner to take. It is also the quickest route many real estate professionals can see for helping the housing market heal. The US economy cannot become robust again until the housing market recovers. Of particular concern is the immense portfolio of Option Payment Adjustable Mortgages across the country that is expected to go into default during the next few years. Homeowners with this class of mortgage will find their banks practically bending over backwards to stave off foreclosure.
Yes, the last thing you wanted for your property was to lose it to the bank. And if you've already had a public Notice of Default posted against your property, you have now received endless solicitations from people offering to help you. Many of these will be legitimate offers, some will not be. The ones that aren't will be from scammers looking for you to hand over either sensitive personal data for their own use, to give them money up-front to help you out, or to give them the title to your property. Often, scammers will ask for all of this and more.
What can you do? Do not pay up-front for loan modification or other service fees, do not give out sensitive personal information without knowing who you are dealing with, and do not hand over the title of your property.
If you are facing losing your house, you can try to get a loan modification through your lender. If that doesn't work out, then you can do a lender-assisted sale, commonly known as a short sale. I can give you pointers on doing a loan modification as I am a former long-time loan officer. If that doesn't work, I can work with you on selling your home before it becomes bank-owned. That will help your credit and possibly your tax liability. If we begin working together on a short sale, I will have you contact a CPA of your choosing to discuss how a short sale will impact you specifically versus a full foreclosure. It is always on a case-by-case basis.
Banks are getting smarter and seeing that it works out best for everyone if they let their borrowers do a short sale. I would be honored to assist you in that. Jan/Cell (831) 917-2892
This web site features every real estate tool you need when looking for real estate for sale on the Monterey Peninsula. You can browse exclusive homes for sale, search virtually all area listings through my property search, calculate mortgage payments on your next home with my real estate mortgage calculators, access home buying and selling tips, get tremendous area information about greater Monterey County including specific information for Carmel, Carmel Valley, Pebble Beach, Big Sur, Pacific Grove and Monterey. Furthermore, you can find out how much your property may be worth, (a solid assessment requires an in-home consultation).
If you are interested in learning about Monterey County, CA schools, this site also offers thorough school information. Thank you.
Jan Wright Bessey/Cell (831)-917-2892