Search This Blog

Monday, May 5, 2014

By waiting It Out, Your Short Sale May No Longer Be Short! Ventura County Short Sales

Two years of relatively consecutive home price increases and a general decline in the number of distressed loans have contributed to a decreasing number of underwater borrowers. Looking at current combined loan-to-value, we see that while four years ago 34% of borrowers were in negative equity positions, today that number has dropped to just about 10% of active mortgage loans.

While negative equity levels have declined for both judicial vs. non-judicial foreclosure states from the peak of the crisis, non-judicial states are now at just under 8%, as compared to 13.4% in their judicial counterparts. Overall, nearly half of all borrowers today are both in positive equity positions and of strong credit quality – credit scores of 700 or above.

As was reported in Black Knight’s most recent First Look release, other key results include:

•           Negative equity levels in the country keep falling – they've declined over 60% since their peak – and as of March, just 1 in 10 American borrowers are underwater on their mortgages. That's down from about 1 out of every 3 back in 2010.

•           Home affordability is better today than it was even before the bubble. At the national level, 22% of income goes to paying the mortgage.

•           Loans in the foreclosure process have now been past due for an average of 966 days, and a full 55% of those loans haven't had a payment made in over 2 years. Both of these numbers represent all time highs

•           Jumbo mortgages are more popular these days. As 2013 drew to a close, jumbos accounted for roughly 9% of all mortgages, with an average credit score of 765 compared to 750 for non-jumbo loans.

Many Moorpark Homes Appreciated by over 20% Last Year.  If you thinking of selling, yours may have now have enough equity to sell without being “Short”.

Pricing your home correctly the FIRST TIME is more important than ever!
If you want an accurate idea of what your home is worth Click Here

You may now have enough EQUITY in your home to sell WITHOUT
having to be “short”. If you are thinking about a short sale I can help
you get an accurate value for your home and get back on your feet. 

If you would like periodic updates on what is going on in
Click on the Links!

Thanks for reading this, 

Phone: 805-208-0823. 

Certified HAFA Specialist,                                                 Certified Short Sale Negotiator.  

Finding The Right Solution                                               How To Do A Short Sale

How To Write A Hardship Letter                            Loan Modification Kit

Short Sale VS Foreclosure                                    Loan Mod-Active Status Review
Is It Too Late For A Short Sale?                             The Truth About Loan Modification Approvals
Thousand Oaks Market Update                            Simi Valley Short Sale Trends  
Moorpark Market Update                                        Moorpark Market Trends
Are We Still UnderWater?                                      Which Way Is This Market Headed?
Simi Valley-Price To Sell??                                   Thousand Oaks Deficiency Judgment
Moorpark Short Sale-HyperLocal                          Thousand Oaks Short Sale-HyperLocal
Simi Valley Short Sale-HyperLocal                      Buy VS Rent    &    Buying Beats Renting

No comments:

Post a Comment