Foreclosure Alternatives

Earlier this month, the federal government has launced rules to help facilitate short sales. However, some homeowners who are unable to complete a short sale or those who don't qualify for one may have an alternative to forclosure.

Such an alternative is a "deed in lieu of forclosure," an agreement which allows you to voluntarily turn the deed to your house over to the lender.

This opetion often allows the homeowners to negotiate more favorable exit terms than what a foreclosure would allow. This includes staying in the home for a longer period of time, for several extra months, or even potentially lessening the negative impact on their credit.

The possibility of saving tens of thousands of dollars in legal fees and other foreclosure costs, lenders may be more willing to go for the agreement.

If this is something that may be of benefit to you, we encourage you to contact your lender and discuss your options. In order to get the most favorable outcome, communication with your lender is crucial.

While communicating with your lender, be sure to document everything from certified letters to your phone calls.

When is the Best Time to Sell a Home

Often when GreatWest GMAC Real Estate professionals are asked, when is the best time of year to sell a home, a seller's largest asset. The consumer may be thinking the answer an easy one - spring of course.

However, there are a few thoughts, which support another theory.It is true that many buyers begin looking in spring for a suitable home for their moves - especially when there are school-age children involved. But, one thing to remember, in springtime, EVERY seller thinks that spring is the time to sell. This generally brings MORE sellers to the marketplace, which means MORE COMPETITION.

When there are more sellers on the market, the pricing of your home becomes a critical issue. It is paramount to tighten price to remain competitive within the marketplace. Therefore an advantage can occur during the quieter winter months when less seller competition is in place.

One GreatWest GMAC Real Estate professional reminisced - she actually purchased her own home on Christmas Eve, and counted it as a wonderful holiday present for her family! Real estate buying and selling is very much a year round activity!

Written for GreatWest GMAC
by: Myrl Jeffcoat

Sacramento CEO Retires

Sacramento County CEO Terry Schutten announces his retirement at the end of the year.

"It's a good opportunity for someone else to step in and move ahead for the next several years, [...] It's sad leaving all the people I worked with for 10 years." Schutten reported to Sacramento Bee today.

Terry does state that the budget crisis was a factor in his decision, but also that he had committed to be there for 10 years, which ended on June 6th. As of December 31st, Terry Schutten will be officially retired.

Full Story Here: SacBee