The Tracy Real Estate Blog

Benifits of using our new IDX system

0 Comments Published by Brian W. Barringer on Thursday, June 28, 2007 at 11:40 AM.

We have been doing lots of upgrades to our website due to the fact that one of our oldest MLS systems, SOAR(http://www.centralvalleymls.net/) is going to be retiring. That's right we have been using the same system since 1997, that's like a lifetime on the Internet :)

Our SOAR system is old and outdated.

Thats why we are swithching to a cutting edge system.

I invite you to "become a VIP Buyer" and try out the new system, listed below are all the benefits of using this free service. You can also see a FAQ regarding the system.

Brian

Use the green button above to Sign up for FREE daily e-mail updates of all homes that fit your criteria.

Registration Benefits:
1) You are only required to give us your email address and first name (more is appreciated but not required).

2) You will get a property organizer which will enable you to save homes you like and hone in on exactly what you are looking for. I will also be able to see this and make helpful suggestions based on your criteria.

3) You will be able to manually change your OWN search criteria. Just click on the link at the bottom of each email update that says "Modify Your Email Update Parameters"

4) Receive all pictures and details available on the MLS for each listing. Now you can get up to 12 pictures with each listing and also get many more details then was previously available.

5) When ever we get a listing or we do a price reduction we send out an email to all potential buyers to "get the word out" before we post it to the MLS. By registering you are on this list.

6) Register with your full name and home address and receive our monthly newsletter "Barringer Buzz"

7) You can automatically un-subscribe at any time. At the bottom of each email is a link to our un-subscribe page were you can easily opt out. I actually just tried it, its very fast, actually its instant you just click on the link and "boom" your out!

8) Private information we receive will remain private, never sold, and for our business only. We are not in the lead generation business. There are a lot of nationally known websites which there only business is to capture your information and sell it to anyone willing to buy it. As a small family business you can trust that we would never consider doing anything like that. To me this is a gimme.

9) Have multiple saved searches emailed to you at the same time.....

IDX FAQ:

What Is the Property Organizer?

The Property Organizer is an area of this website where you can manage all of your saved property searches (also know as daily email update subscriptions) and saved properties. If you click links from a daily email update that you receive you will be logged in automatically to your organizer.

You can save multiple custom searches to find properties that match your requirements and choose whether you would like to get daily email updates of new listings that match your settings. Or, if you would prefer not to get email updates on a saved search, you can choose that option and only view the results of the saved search in the organizer instead.

If you find a listing you are interested in, you can save that listing to your "Saved Properties" list. This allows you to maintain a list of prospective properties that you are interested in and check back to see if there is any updated information, such as price change or new property photos.

What Is the Difference Between a Saved Search and Daily Email Updates?

If you previously signed up to receive daily email updates, those settings will now show up in your "Saved Searches" area. The difference is that you now can choose between receiving email updates OR using your property organizer to find out about new listings that match your search settings. You now have to option to turn off the email updates on a saved search if you prefer, and just use your property organizer to check for new matching properties.

How Do I Save a New Search?

To save a new custom search, go to "Saved Searches" and click the "ADD NEW" button. Fill out the form with your custom settings, and click the "Click Here to Sign-Up" button. If you would like to receive daily email updates of new listings that match these settings, make sure to click the radio button labeled "Yes, send me daily email updates on this search". If you'd prefer not to receive emails from this saved search, click "No, don't send me email updates. I will check this search in my Property Organizer."

Can I Choose Not To Get Email Updates on a Saved Search?

Yes, you can choose whether or not you'd like to receive email updates on any saved search. If you have an existing saved search for which you would like to turn off email updates, you can easily modify the settings. Click the "Saved Searches" button, then click the "MODIFY" link next to the search you want to change. On the modify page choose the option labeled "No don't send me email updates. I will check this search in my Property Organizer."

How Do I Save Properties That I am Interested In?

To save a listing, click the "SAVE" link next to any property listing that you are interested in when you are searching for properties.

How Do I Delete My Account?

If you would like to delete your whole account, go to "Account Settings" and click the "Delete My Account" button. This will delete all of your saved searches, saved properties, and your entire property organizer account. If you would just like to delete a saved search, click the "Saved Searches" button, then click "DELETE" next to the search you want to delete.

Brian Barringer

brian@tracyhomes.com

800.894.7282

Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and http://www.blogger.com/www.tracyrealestate.blogspot.com

Can't make the payments? Here are your options...

0 Comments Published by Brian W. Barringer on Wednesday, June 27, 2007 at 1:09 PM.

Option 1: Loan Forbearance or Modification

A strategy worth pursuing is called a loan forbearance. The loss mitigation department of your mortgage company may make arrangements with you to pay some of the back payments now and the balance within a certain time period. A typical example – You owe $9,000 in back payments, attorney’s fees, etc. Your mortgage company may accept $4,500 now and $750 per month for the next six months. Of course, you would have to resume making your normal monthly payments. A loan modification is a permanent change to your mortgage that may lower your payments and the delinquent payments may be added to the mortgage balance. A loan modification or forbearance is easier to arrange prior to the Mortgage Company filing a foreclosure lawsuit. Some lenders will not consider this after filing, but it’s worth trying.

Option 2: Reinstate Your Mortgage

You have up to and including the morning of the auction to catch up your payments. Perhaps you could borrow from friends or family, credit cards, or a retirement program. You may be able to arrange a second mortgage to catch up the back payments and fees. Check in the Yellow Pages under "Mortgages." There are a number of companies listed that claim they can help in these situations

Option 3: Refinance

You’ve probably received letters from mortgage brokers and lenders saying you are already pre-approved for a new mortgage. The fact is that it is very difficult to arrange new financing when you’re already in default on your existing mortgage. Be very cautious about sending advanced fees of $300 to $600 to lenders or mortgage brokers. Usually it’s a ploy to take advantage of your financial situation.

Arranging new financing will depend on your income, credit report, value of your home, and the amount of your equity. If you’re not sure of the value of your home, give us a call. Usually we can give you a fairly accurate estimate of value within a half-hour. We would be glad to help and of course, there’s no obligation. If you attempt to refinance, you should always have a backup plan available to you. Many times, we have had homeowners call days before the auction saying their financing did not go through, and then it’s too late!

Option 4: Chapter 13 Bankruptcy

A viable alternative if your financial situation has improved, filing bankruptcy prior to the auction will stop the sale. Unfortunately for most people, it only postpones the sale for one or two months. Immediately after filing a Chapter 13 bankruptcy, you will have to file a repayment plan with the courts. This plan has to show that you have sufficient monthly income to pay basic living expenses such as food and utilities and other monthly payments such as credit cards, car payments, etc. In addition, your income must be sufficient to resume making your monthly mortgage payments. All past due amounts are usually spread out between 24 and 60 months; e.g., if you owe $9,000 in missed payments, attorneys fees, etc., and if spread out over 48 months, there would be an additional $187.50 due each month to the court appointed trustee. If you feel as though you have the income to immediately begin repayment of all your debts and the courts agree, this may be a good choice for you to save your home.

Over the years, we’ve spoken with many individuals who filed for bankruptcy protection only to have their cases dismissed. Not only were they out their attorney’s fees (usually $1,000 - $2,000), but now had a bankruptcy and foreclosure on their credit report. Bankruptcy is considered an action of last resort.

Option 5: Short Sale

If you owe more than your home is worth, you can look at negotiating a discounted payoff with your mortgage company. We can negotiate with your mortgage company on your behalf to get approved for a Short Sale. We have done hundreds of these and here’s the best part: The lender nearly always pays all the sales costs including title and escrow fees, commissions and most repairs.

Don’t procrastinate; explore all the options available to you. If saving your house seems unlikely, you should call us as soon as possible! Placing you home on the market a few weeks or a month from now may not give us enough time to find the buyer, arrange financing, and schedule the closing. Because of the time-sensitive nature of your situation, this is not a time to go it alone as a "for sale by owner" or list your home with a friend or friend of a friend.

Option 6: Let Your Home Be Sold On the Courthouse Steps

By far, the worst option available to you! Many people feel, "I have no equity, let the bank take it," but homes that are sold on the courthouse steps typically sell between 50-70 percent of their fair market value. Moreover, if a bank suffers a loss due to the pending foreclosure action against you, they also have an option. They can file a deficiency judgment against you and pursue you for the amount of their loss.

Typically ten days after the foreclosure auction, a certificate of title will be issued by the courts to the new owner. If you have not voluntarily vacated your house at this time, you could be forced to move out within 24 hours.

Technorati Tags:Loan Forbearance, loss mitigation department, mortgage, Refinance, Chapter 13 Bankruptcy, Short Sale, foreclosure

An amazing email......The Hotsprings in the 70s

1 Comments Published by Brian W. Barringer on Sunday, June 24, 2007 at 10:48 AM.

(Foundation of the second hotel.)

What was life like when John and Dixie Adams lived there in the 1970s? Below is an email and a comment sent to me regarding the Byron Hot Springs.

The email is a glimpse into a time when the springs was a hippie commune.

I left out information I thought the author might consider private or personal.

If anyone reading this has any memories of the hot springs, please give me an email. Especally if you were an attende of the "Great 1890’s International Bazaar" a festival at the springs in the sevendies.

When I first read the email it gave me chills.....I am so happy to get this email and that someone choose to let me know that I effected them on a personal level means a lot to me. I want to publish the email because I believe there is some genuine historic information here or at least some in site into what the hotsprings was like in the 1970s as a "hippie commune". After the email is a little history.......

The Email:
Sent: Saturday, June 23, 2007 5:47 PM
To: Brian@TracyHomes.com
Subject:

I know this email may seem a bit offbase and out of the blue, but I recently was skimming your website with pictures of Byron Hot Springs. I used to live there as a child and your pictures took me completely out of my element and returned me to another place and time. I lived there at a time when John and Dixie Adams lived in the Victorian home in the center of it all. (I remember going into the kitchen with Dixie to eat yogurt and cottage cheese while baby Love napped) My days were filled with exploring the Hotel with my brothers; Hide and seek was our favorite, or riding my pony over the spacious land.

I just wanted to let you know that the pictures are almost exactly as I remember it. However, I refer to that period of time as my mother's choice to have us children live on a "Hippie Commune" I wouldn't change it for the world. Most of my childhood memories are somehow enveloped within that community.
XXXX XXXX

The Comment:

I recently learned of the book Byron Hot Springs and it has brought back a multitude of memories for me. I lived in one of the bungalows in the early 70's when John and Dixie Adams lived in the great Victorian home. My days were filled with exploring the Hotel with my brothers. It is one of my greatest memories as a child. The pictures you have posted only bring me closer to those memories. I am so amazed at how these pictures can carry me back into that time of my life. I cannot thank you enough for this.

This is taken directly from http://www.byronhotsprings.com/ History:

The most promising was purchase of the property by Jon and Dixie Adam in 1972. Jon Adams made his reputation as the real estate sales manager for Tahoe North Star Resort at Lake Tahoe, CA. He relocated to the Byron area and is credited with creating the residential home development now known as "Discovery Bay." Development rights to Discovery Bay were sold and Jon used his proceeds to acquire the Byron Hot Springs. Jon and his wife, Dixie, sought to improve the property, renovate the structures, restore the resort, and dredge a large lake. Perhaps its greatest notoriety came during the summer of 1972 as the site of the "Great 1890’s International Bazaar" in 1972. The "Bazaar" was created by the "Harbingers" best know for their creation of the Renaissance Faire first staged on Mt. Tamalpias in 1969

Here is some links to my past Byron Hot Springs posts:

Pictures I took of the Byron Hotsprings Hotel on 4/29/06

More pictures & reading on Byron Hotsprings Hotel....

History of the Hotsprings

Byron Hotsprings AKA Camp Tracy.

The Future of Byron Hotsprings

The Hotsprings needs its own wikipedia page! For those of you who dont use wiki please check it out. It is a wealth of information on just about every subject imaginable. Its a great real-time online encyclopedia that's user driven. That means we have to make it and anyone can be a author. There are whole communities online dedicated to insuring accuracy and making it work. Its been around for at least 10 years now and just about covers every topic.

Brian Barringer

brian@tracyhomes.com

Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and http://www.blogger.com/www.tracyrealestate.blogspot.com

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Short sales, in a nutshell............

1 Comments Published by Brian W. Barringer on Tuesday, June 12, 2007 at 11:52 AM.

Real Estate short sales, in a nutshell..................

This is a very good Q&A I put together about short sales and how they work. The changing mortgage industry and a slowing of appreciation are two factors in today's real estate market contribute to the high rate of foreclosures. But here is the secret, the bank is not in the business of owning and selling real estate. They loose thousands of dollars in the process and would be much happier to settle it before it reaches that point, not because they care about you or your credit but because they will save thousands on there bottom line!!!!!! That's where a short sale comes into play. LENDERS actually prefer you to do a SHORT SALE. Homeowners who cant make there monthly payments have the option to sell there home for less then what its worth. Lenders are increasingly willing to work with borrowers faced with a financial hardship to accept a discounted payoff on a mortgage. By completing a Short Sale, your lender has arrived at a solution that is, for them, much better than a foreclosure.Bottom line, your lender wants to work with you.

Brian

209.613.8945

What is a Short Sale?

Short Sale is the sale of a home when sales proceeds do not fully pay off the existing loan(s) and lender(s) accepts a discounted payoff to fully satisfy the loan.The best part, the existing lender pays virtually all sales costs, including commissions, escrow and title fees and repair costs. You get your home sold, the loan(s) paid off and you avoid foreclosure.

If I do a Short Sale, how much will I have to pay to sell my home?

Nothing, zero, zip. It’s true, in most cases you will pay literally no sales costs if your lender approves the Short Sale. All commissions, title and escrow fees, and even most repair expenses are paid by the lender as part of the Short Sale approval. Remember, the lenders motivation to approve Short Sales and accept the resulting losses is to avoid bigger losses through foreclosure.

How do I get started on a Short Sale?

It’s easy. Email me today and we will get started. Brian@tracyhomes.com If you would prefer to discuss it on the phone, or set an appointment call 800-894-7282. There is no charge to you to or fee to you ever. The bank pays us to sell your home.

Why would a mortgage company agree to accept a Short Sale?

1)Legal Concerns – Mortgage lenders have come under legal pressure to work with borrowers to equitably resolve situations where borrowers are unable to meet their mortgage obligation, particularly when the borrower makes an effort to arrive at a compromise solution.

2)Wall Street is Watching – Mortgage lenders rely heavily on their ability to package and sell bundles of loans on the secondary mortgage market. They need to sell these bundles of loans in order to put the funds back to work by loaning the money again and collect loan fees along the way. When a home is in foreclosure its a pure loss for them.

3)Asset Management Expenses- If a lender acquires a property through foreclosure, the property will be managed until it is repaired and resold. The bank has to pay someone to make repairs, keep utilities on, and so on.....

4)Reserve Requirement- Delinquent and non-performing loans place another burden on mortgage lenders. These funds cannot be put to work generating new loan fees until the bad loans are resolved.

Do lenders approve all Short Sales?

NO. That is why it is critical to work with someone that has extensive experience at getting Short Sales approved.From the presentation of the Short Sale package to the lender to working with the lenders Loss Mitigation Department, we know how to keep the file moving towards approval.

How dose a Short Sale affect my credit?

The big key here is to avoid foreclosure. By nearly any measure, a foreclosure is the most damaging event your credit status can encounter - worse than bankruptcy. By avoiding foreclosure, you will likely be able to resume normal borrowing (car loans, credit cards, consumer goods and such) relatively quickly.

What sort of hardship would my lender consider legitimate?

Each Short Sale is subject to each different lenders requirements. In General , as long as the hardship is real and the mortgage company believes the loan is likely to become delinquent as a result, the Short Sale request will be processed by the Loss Mitigation Department. A big key to getting Loss Mitigation to accept a hardship is to submit a strong hardship letter. This is something I specialize in. The hardship letter sets the tone for the entire file. Below you will find a list of “hardships” that are common and frequently accepted by mortgage lenders.

Types of hardship that apply:

Family illness or injury
Illness or injury in the extended family – particularly if it forces relocation
Job relocation when the property is equity deficient
Job loss or significant income loss
Divorce or split of domestic partners
Adjustment in mortgage payment or unforeseen increase in living expenses

Brian Barringer

brian@tracyhomes.com

Need more info, lets talk.................

800.894.7282

Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and http://www.blogger.com/www.tracyrealestate.blogspot.com

Technorati Tags:mortgage, Divorce, hardship, bankruptcy, credit, short sales, Loss Mitigation Department, sub-prime, loans, FAQ, Q&A, Barringer

City of Tracy will pay your second Mortgage on this home!!!!!!!!!

1 Comments Published by Brian W. Barringer on Thursday, June 07, 2007 at 10:25 AM.

Just reduced by the bank to $245,900.

Today on the MLS a home on 10th Street in Tracy caught my eye. This is a great price for a home that is located on Tracy's most festive street. You will be able to stroll from your home to the wine stroll farmers market, bean festival, or any other downtown activity....... What is interesting to me about this home is its price and also its location.

2 Bedroom
1 bath
757 sq.ft
0.070 ac
Built in 1925

The home is in Tracy's Downtown Housing Rehabilitation Area. Which means lots of good things for a potential buyer. The next owner of this home has a potential of getting $75,000 in downpayment assistance.

There are additional grants any home in this area for deffered payment loans to rehab the home that equal up to $54,000. Thats right the city wants you to fix up downtown for them and help yourself at the same time.

Here is a link to additional pictures and details (this is a link that will expire 30 days after the post, sorry. ) Originally it sold at the peak of the market (12/16/05) for $347,000. Trustees Sale took place on April 17 2007. The new price as of today is $245,900.

Consider this option: $75,000 deferred down payment loan for first time buyers. Which is a loan you do not have to pay on and is only due at the time of sale. The only problem is you have to qualify for the program and buy a home in the designated area. Before when the market was really strong no one could qualify for the DPA program because of high home prices vs. the income limits. Now that prices in Tracy have ajusted there are a few homes that fit both requierment, affordability and location.

Down Payment Assistance Program

Maximum Annual income and houshold size requierments must be met to qualify:
1....$50,640
2....$57,840
3....$65,160
4....$72,360
5....$78,120
6....$83,880
7....$89,760
8....$95,520

So are you ready to be a homeowner???? Seriously, if you think you might qualify give me a call this home is a great deal and it will get sold at this price. Call me at 209.613.8945 and lets get started. I will get you qualified and help you get your first home. The next step in the process of getting this home is qualifing for the program. I have a lender who is an expert with this and can get you started today.

Loan and Grant Program Eligibility Requirements

Applicants must be owner-occupants of home in need of improvements.
Homes must be located within the downtown area (see map above). Programs are available to downtown Tracy residents whose income does not exceed the limits.

The citys mission statement: The City of Tracy Downtown Rehabilitation Loan and
Grant Programs help to create a better place to live by enhancing the quality of
life for low-income families and preserving the existing housing stock in the
City of Tracy.

Other grant programs for the Downtown Housing Rehab:

Exterior Enhancement Program:Offers grants up to $2,000 for home exterior improvements. Eligible improvements include exterior painting, new fencing, roof repairs or replacement, security doors and security screen doors, front yard landscaping, and driveway repair or replacement.

Weatherizing and Home Security Program:Offers grants up to $2,000 for weatherizing and home security improvements for attic and walls, weather stripping for doors and windows, security lighting, doors and screen doors, energy efficient windows, smoke and carbon monoxide detectors, residential security systems, and roof and siding repairs.

Rehabilitation Home Loan Program: This program offers low interest and, in some cases, deferred payment loans up to $50,000 for needed home rehabilitation work.

All grant funds are available on a first-come, first-served basis, after completion of the repair work. All grant eligible improvements must have prior approval from the City of Tracy Community Development Agency. Anyone can start the process contacting Community Development dept. at (209) 831-4638.

Please check out the comunity development page for the city of Tracy here

Call me I would be happy to discuss your options. I am a real estate Buyers Agent and that is my job. I work for you on your behalf and for free because the seller pays me not you!

Feel free to get a hold of me anytime,

Brian W. Barringer
Your Personal Real Estate consultant for Life
Brian@tracyhomes.com
http://www.tracyhomes.com/
800.894.7282

Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and www.tracyrealestate.blogspot.com

Technorati Tags:10th Street, Tracy, $245, 900, Downtown Housing Rehabilitation Area, insentives, goverment, grants, fixer upper, Trustee sale, Rehabilitation Home Loan Program, exerior Enhancement Program, City of Tracy, Brian Barringer, Century 21 M&M, First time buyer program

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A good deal in Lathrop, Ca

0 Comments Published by Brian W. Barringer on Wednesday, June 06, 2007 at 9:45 AM.

Hello Internet, sorry I have not been posting to my blog lately. I But I do have an explanation, I wrote 2 very long blog posts and got them killed by blogger when I tried to publish them. If you have a blog or actually if you ever lost a word document or a report just as you finish it, then you know how I feel. You get something just the way you want i t then, boom, its gone. That's what happened. I had to take a break and remember that it was all my fault anyways. Since I did not save the posts beforehand, now I am always going to copy/paste the html of the post into my clipboard before publishing from now on to avoid any frustrations. I would advise all blogger to do the same

Here is a home that stuck out to me today in the hot sheet. This is an old listing with a new price reduction that has been on the market for over 200 days. This price reflects the sellers need to sell and is much lower then any home in the area. Another good thing is the seller is offering $3,000 in closing costs up front. Details on the listing are below:

3 bedrooms

3 (2 1) bathrooms

1653 sqft
Built in 2005

Good size lot with huge detached garage. Bedrooms are upstairs with plenty of
windows. Kitchen living room combination perfect for family hours & the
kitchen is completely modern & a joy to see.

This home is bank owned.
Started at a price of 435K.

If you are interested in working with a buyers agent I would be happy to help you find your next home. I am a buyers agent and I work in your best interest to find you the home you are looking for. If you are interested in this home I would be happy to set up a showing. If this is not the home for you I would be happy to locate it!

Questions??????????

email or call me anytime!

With warm regards,
Brian
Brian W. Barringer
Your Personal Real Estate consultant for Life
Brian@tracyhomes.com

http://www.TracyHomes.com

Cell - 209.613.8945

: Name: Brian Barringer; Location: Tracy, California, United States

Hello. My name is Brian W. Barringer. I am a real estate agent in the city of Tracy. I work exclusively as a buyer’s agent, helping my clients in finding homes and condos in the Tracy area. Most of the content in this blog will be real estate news of a local interest. Living in Tracy most of my life and growing up around the real estate business gives me a unique prespective on the local real estate market. If you wish to learn more about the ways in which I can assist you as a real estate agent, please visit my real estate site, at www.tracyhomes.com. The best & easiest way to contact me is by email or phone. Brian Barringer brian@tracyhomes.com 800.894.7282

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