Ca. Realtors Launch Spanish- Language Real Estate Site

California REALTORS® launch Spanish-language real estate search site

Contact Tami Winbury Keller Williams Realty for all your Real Estate needs. 805-798-3412 www.TamiWinbury.com Spanish Translator.

Consumer site Sucasa.net developed as sister site to California Living Network

The California Association of REALTORS® has launched a consumer-facing website for Spanish speakers looking for California real estate, the association has announced.

The site is Sucasa.net (the Spanish phrase "su casa" translates to "your house") and it is a sister site to the English-language California Living Network. Both are powered by Realtor.com and contain the same multiple listing service data.

"With Spanish ranking as the second most widely spoken language in the U.S. and Spanish speakers making up (a significant percentage) of California's population, we recognize the market potential for this homebuyer population," said LeFrancis Arnold, CAR's president, in a statement.

As of 2010, 28.9 percent of California's population spoke Spanish or Spanish Creole, according to the U.S. Census Bureau. Of the state's 37.3 million inhabitants, 37.6 percent identified as Hispanic or Latino and of those in that group 5 and up, 76 percent spoke Spanish.

On Sucasa.net, users can search for for-sale homes or rentals by city and state or ZIP code and filter their search by price range, number of bedrooms and bathrooms, property type, property features, home size, lot size, and how long ago the property was built. Results appear in list view, map view or grid view.

The site took about six months to develop, according to CAR. The association used a combination of professional translators and a variety of focus groups to translate the site's navigational elements and other standardized text.

Because of their sheer number and need for ongoing maintenance, property descriptions and listings details on the site are machine-translated, CAR told Inman News

Contact Tami Winbury Keller Williams Realty for all your Real Estate needs. 805-798-3412 www.TamiWinbury.com Spanish Translator.

Sitio de búsqueda de las propiedades inmobiliarias de la Español-lengua del lanzamiento de California REALTORS®

Entre en contacto con los bienes raices de Tami Winbury Keller Williams para todas sus necesidades de las propiedades inmobiliarias. 805-798-3412 www.TamiWinbury.com

Traductor español. Sitio Sucasa.net del consumidor desarrollado como sitio de la hermana a la red viva de California La asociación de California de REALTORS® ha puesto en marcha un Web site del consumidor-revestimiento para los altavoces españoles que buscaban las propiedades inmobiliarias de California, la asociación ha anunciado. El sitio es Sucasa.net (el " español de la frase; casa" del su; traduce al " su house") y es un sitio de la hermana a la red viva de lengua inglesa de California. Ambos son accionados por Realtor.com y contienen los mismos datos de servicio del listado múltiple. " Con la graduación española como la segunda lengua extensamente hablada en los E.E.U.U. y los altavoces españoles que componen (un porcentaje significativo) de California' población de s, reconocemos el potencial de mercado para esta población del homebuyer, " LeFrancis dicho Arnold, CAR' presidente de s, en una declaración. En fecha 2010, el 28.9 por ciento de California' la población de s habló criollo español o español, según la Oficina de Censos de los E.E.U.U. Del state' s 37.3 millones de habitantes, el 37.6 por ciento identificado como hispanico o Latino y de ésos en ese grupo 5 y para arriba, el 76 por ciento habló español. En Sucasa.net, los usuarios pueden buscar para los hogares o los alquileres de la para-venta por la ciudad e indicar o el código postal y filtrar su búsqueda por el rango de precios, el número de dormitorios y los cuartos de baño, tipo de característica, las características de la característica, el tamaño casero, tamaño de porción, y cuánto tiempo hace la característica fue construido. Los resultados aparecen en la opinión de la lista, la opinión del mapa o la opinión de la rejilla. El sitio tardó cerca de seis meses para convertirse, según el COCHE. La asociación utilizó una combinación de traductores profesionales y de una variedad de grupos principales para traducir el site' los elementos navegacionales y otro de s estandardizaron el texto. Debido a su número y necesidad escarpados del mantenimiento en curso, las descripciones de la característica y los detalles de los listados en el sitio son traducidos por computador, las noticias dichas COCHE de Inman Entre en contacto con los bienes raices de

Tami Winbury Keller Williams para todas sus necesidades de las propiedades inmobiliarias. 805-798-3412 traductor del español de www.TamiWinbury.com.

How to Buy After a Foreclosure

How to Buy After A Foreclosure

Contact Tami Winbury Keller Williams Realty for all your Real Estate needs. SFR designated.

805-798-3412 DRE#01878369

Homeowners facing foreclosure seem to be desperate to buy again.

Frequently, I receive inquiries from someone who hasn't yet lost their home to foreclosure but anticipates they soon will, and wants to be able to get back into the market.

In the same breath, many of these folks say they're ready to pay top dollar for their next home, and pay an additional premium if they are forced to rely on lease-to-own, seller financing, or a hard-money mortgage.

Others claim they don't want to miss out on the opportunity to build equity in a home instead of paying rent, or cite the tax advantages of homeownership as the piece they particularly want to retain.

My advice is almost always this: Slow down! Most legitimate loan programs now impose a three-year-plus waiting period after a borrower loses a home to foreclosure, even if they would otherwise qualify for a mortgage based on their credit score, income and assets.

Here are four suggestions for how you can wisely use that waiting period to recover from a foreclosure -- these steps also do double duty in terms of setting you up for success and sustainability the next time you buy a home.

1. Feel the pain.

Many folks are still in the early stages of grief at the loss of their home: anger and denial. They are angry at the bank, and in denial about the loss of their home and its advantages, from status to tax write-offs.

What I know is that getting through this grief is an essential first step to truly moving forward. Inherent in grief is an acknowledgement that something is dead and over. The acceptance of that finality is what allows you to move forward and learn the lessons that such experiences can teach.

As long as you're stuck in the emotional protestations of how unfair it was that you lost your home, or spinning in a place of outrage about the Wall Street bailouts, you're probably not making emotional progress to the point where you can begin to learn from your experience.

2. Metabolize the loss.

Henry Cloud, bestselling author of "Necessary Endings: The Employees, Businesses, and Relationships That All of Us Have to Give Up in Order to Move Forward" (Harper Business, 2011), recommends that we treat our painful past experiences as our bodies do food, metabolizing them by taking away the lessons we can distill from them that will fuel our future decisions, and leaving behind the pain and other toxic wastes from the experience.

Individuals and couples should take time out to acknowledge what has happened, and distill and discuss mistakes that were made and insights you've gained so that you can avoid repeating them in the future. It's a meaningful method for progressing past grief and repositioning yourself to make smarter decisions about your money and your mortgage for the rest of your life.

3. Avoid rebound home purchases.

There's a whole lot of what I call tuition -- the price we pay to learn life lessons -- involved in the loss a home to foreclosure. If rush in too quickly to the next home purchase, chances are good we'll miss the lesson and get nothing for the tuition. This is evident in the gymnastics many foreclosed homeowners are considering going through in order to buy a home at all costs. These may mirror their willingness a few years ago to take on an unsustainable mortgage, which is what got some portion of them into foreclosure in the first place.

Trying to replace our losses on the rebound, be it after a breakup or after a foreclosure, is how people end up repeating their mistakes. Making new, unsustainable mortgage commitments and chronically overspending or over borrowing is no different from your friend who keeps repeating the same old dysfunctional relationship patterns, year after year.

4. Heal your finances.

My advice to foreclosed homeowners is to devote some real time to working on their finances, without worrying about buying another home. Get your debt paid down or off. Change your spending habits and your overall relationship with money. Get your taxes current and paid. Save some money. Create the habit of paying every bill on time every time. Eliminate unnecessary monthly expenses. Work the programs in "365 Days to Organized Finances or Financial Recovery," or some similar book, or both. Focus for awhile on your career development.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions."

You Don't Have to Lead to Foreclosure

You Don't Have to Lead to Foreclosure

Contact Tami Winbury Keller Williams Realty for all your Real Estate needs 805-798-3412 www.ShortsSale.org

There are government reports out informing that most homeowners who lose their home to foreclosurenever call the bank to determine whether they can work something out with them, despite the ubiquitous government, bank and media education campaigns encouraging them to do just that.

While a number are strategic defaulters who plan to walk away from the home in any event because of its deep negative equity, the vast majority are folks who have lost a job, seen their business income decline during the recession and/or had their payment adjust steeply upward sometime over the past couple of years, and have simply fallen behind on the payments.

Simply ignoring the bank's calls and letters does not just get a distressed homeowner out of a hard conversation or two; the ultimate results of this plan of inaction include losing the property to foreclosure and bank repossession, including eviction and having to find another place to live.

Could those things happen anyway, even if you do reach out to the bank? Absolutely. But there are still millions of homeowners every year who are able to save their homes, under a bank or governmentloan modification or refinance program, or even amicably agree to a less traumatic surrender of the property than foreclosure, by short-selling the property or negotiating a deed-in-lieu of foreclosure.

It only makes sense to try.

But not everyone does. Here are a few of the emotions and psychological underpinnings I suspect motivate a homeowner in mortgage distress to completely avoid the situation and fail to seek help with keeping their homes. And just in case you recognize yourself in any of these, I've also included some steps for deactivating these issues and rethinking your (non-)approach.

1. Fear and panic. The thought of not being able to make your mortgage payment -- and then actually missing it -- induces a constant, chronic state of fear and overwhelming dread. If you have a contingency plan in place -- a check you know is coming, or a new job where you'll get your first check in a week or two -- those emotions are manageable. But if you have no backup plan, or it falls apart, fear quickly comes to panic -- and panic is paralyzing.

If you're about to miss a mortgage payment or have just missed one, and are feeling that paralyzing panic of not knowing what to do next, decide to do just one thing today -- right now -- to break the hold of that panic. First things first: Search the Web to get educated about the foreclosure process in your state.

On average, it takes 22 months of missed payments before banks foreclose on a home, on today's market. That's not to say you should plan on missing that many, because many states allow foreclosure after six months, and even a single missed month can be difficult to ever recover from.

But it should also help you understand that you'll probably not be evicted tomorrow, and you probably do have some time to try to work something out, whether with the bank or with your own financial situation.

Any little item you do will help put the kibosh on your panic. So, go to your mortgage company's website and figure out who it is you are supposed to call. Calendar your time to call the bank, or call them right now. Just do something, no matter how little, but do it now.

2. Guilt and shame. The longer you've been a responsible homeowner, the more susceptible you are to feeling guilt and shame at the prospect of needing to reach out and ask someone for help.

If feelings of guilt for making a bad mortgage choice five years ago or shame at having lost your ability to support your family and make the mortgage payments are holding you back from making the call, get over it. Guilt and shame are the lowest-energy, least productive of all the human emotions.

And the fact is, you certainly are not alone in having chosen an unsustainable mortgage or having lost your job. The guilt and shame you feel now, if this describes you, are nothing compared to what you will feel if you lose your home without having given the effort to save it your best college try.

3. Intimidation. Perhaps things would be different if this was unfolding back in the days of the friendly neighborhood banker. These days, homeowners read headline after headline about the banks having foreclosed on the wrong people, flat out refused to help hundreds of thousands of homeowners who were targeted by the government housing programs, and running loan modification applicants through an insane rigmarole of lost documents and required resubmissions and last-minute notices that the home is on the auction block.

I have personally known people so intimidated and overwhelmed at the thought of even taking on this David vs. Goliath-style battle that they just pack their bags and move out as soon as they know they're going to miss a payment.

If this describes you, consider getting some help in dealing with the banks. There is a lot of free help around.

Visit NACA.com and learn about their extremely successful, nearly free HomeSave program.

If you live in one of the "Hardest Hit" states or D.C., contact your state's housing finance agency, which can directly assist you with designated "Hardest Hit" funds, and has particularly unique and powerful options for those receiving unemployment insurance or who are back at work but struggling to get caught up on their mortgage payments.

Additionally, many HUD-approved credit counseling services will negotiate with your lender on your behalf in a delinquent mortgage situation, for very low or no cost.

Contact Tami Winbury Keller Williams Realty for all your Real Estate needs 805-798-3412 www.ShortsSale.org DRE# 01878369

Tara-Nicholle Nelson

First Time Homebuyers Important Info.

For all your Real Estate needs contact Tami Winbury Keller Williams Realty 805-798-3412 www.TamiWinbury.com DRE#01878369

First Time Homebuyers Important Info. Buying a home will probably be the most important purchase of your life, and the process can be intimidating. We are here to make it easy for you. This page outlines some of the basics you may want to know before getting started.

Renting vs. Buying

Renting:
Advantages	Disadvantages
Usually costs less than buying	No tax benefit
You can usually relocate more easily	No investment in or from property
Little responsibility for maintenance	No equity is accumulated
No responsibility for repairs	Rent amount may increase frequently

Buying:
Advantages	Disadvantage
Tax benefits	Responsible for property taxes
Greater stability	Responsible for maintenance and repairs
One of the best investments in today’s economy	Monthly housing may cost more
Your equity builds	Cash is tied up
First home often leads to a better home	Can’t always sell a home quickly
Pride of ownership and fulfills the American dream	Less mobility

Costs of Home Buying

How Much Money Do You Need? Enough to cover:

1. Down payment
2. Closing costs
3. Other housing related costs: mortgage payments, maintenance, repairs, private mortgage insurance

When it comes to down payment and closing costs, you may have several options – including little or no money down loan programs. Furthermore, some loan programs do not require private mortgage insurance. Consult your Loan Officer for details.

Tips for the First-Time Homebuyer

Educate Yourself
Become familiar with the home buying process. You can do this fairly inexpensively by picking up easily understandable books such as Home Buying For Dummies. Also look for local free first-time homebuyer seminars in your area.

Save for the Down Payment and Closing CostsKeep in mind that while minimum down payments start around 3% to 5%, the greater your down payment, the more favorable your terms. If you can purchase a home with at least 20% down, you won't need to buy private mortgage insurance (PMI). Also remember that closing costs typically range from 3% to 6% of the purchase price.

Determine How Much You Can Afford
Consider your other expenses, and make sure you are saving enough toward retirement and other goals when deciding how much to spend each month on mortgage payments.

Consider Other Home Ownership ExpensesWhen considering how much you can afford to pay each month, in addition to mortgage payments, factor in costs such as homeowner's insurance, property taxes, private mortgage insurance (if required), utilities, repairs, and maintenance.

Get Pre Approved for a Loan

You’ve made some estimates, but pre-approval will give you a more accurate picture of how much credit a lender is willing to extend to you. Knowing how much you can afford will help you and your Realtor spend your time more valuably, shopping for homes that are truly in your price range. Additionally, when it’s time to make an offer, pre-approval sends a message to the seller that you are serious and prepared to buy.

Location, Location, Location Determine what neighborhood features and characteristics are most important to you and then research areas that meet your criteria. Search for homes at www.GREATPRICEDHOUSES.COM
Consider factors such as safety, schools, convenience, community, and resale value.

Hire Real Estate Agent. Get referrals from friends, relatives, and co-workers, and then interview several agents before you choose one. Tami Winbury Keller Williams Realty is a Realtor® who specializes in the neighborhoods. Rely on her team for guidance but not to make decisions for you. Tami will guide you and let you know how much a home is worth, facilitate the sale process, and bring your offer to the seller's agent.

Inspection
Hire a professional Home Inspector. Get referrals from friends, relatives, and co-workers. Consult the Better Business Bureau as well.

A land survey may not uncover a disputed property line. And title insurance doesn't cover boundary line conflicts. A complete survey could save you lots of time, money, and frustration later on.

Closing PreparationGet a closing costs estimate from your Loan Officer. Make sure you’ll have enough money for closing costs and down payment.

Choosing the Right Loan Program

With the wide variety of financing options available today, how do you know which loan program is the right one for you? Your professional Loan Officer and Tax Advisor can guide you in selecting a loan that will help you achieve your financial goals. However, answering a few basic questions may provide you with some insight into which loan programs are suited towards your needs.

How Long Do You Intend to Occupy or Own The Property?

Length of Stay In Property	Loan Programs to Consider
1-3 Years	1 or 3-Year Adjustable Rate Mortgage
4-6 Years	5 or 7-Year ARM; 5 or 7-Year Balloon
7 Years	10 Year ARM; 15, 20, or 30-Year Fixed Rate Mortgage

Would You Prefer a Lower Payment or More Rapid Accumulation of Equity?

Financial Goal	Loan Programs to Consider
Equity Buildup	15 or 20-Year Fixed
Minimize Payment	1, 3, 5 or 7-Year ARM; 30-Year Fixed

What Do You Feel Interest Rates Will Do in the Future?

I Believe Interest Rates Will:	Loan Programs to Consider
Rise	30, 20, or 15-Year Fixed; 7 or 10-Year ARM; 7-Year Balloon
Fall	1-Year ARM
Stay the Same	1, 3, 5 or 7-Year ARM

How Well Do You Tolerate Risk?

Risk Tolerance	Loan Programs to Consider
Uncomfortable With Vulnerability to Interest Rate Fluctuations	15 or 30-Year Fixed; 10-Year ARM
Comfortable with Market Changes	1, 3, 5 or 7-Year ARM; 5 or 7-Year Balloon

For all your Real Estate needs contact Tami Winbury Keller Williams Realty 805-798-3412 www.TamiWinbury.com DRE#01878369

Article provided by Robert Clark

Apply Now!

Robert Clark

Senior Loan Officer

NMLS #440892

Direct: 805-322-3418

Mobile: 805-302-9444

Fax: 877-630-0933

Email Me!

1000 Town Center Drive #300

Oxnard, CA 93036

I am licensed to originate mortgage loans in the following state(s): CA

Pre-Qualify

Lowballing Your Offer is Risky Business

Lowballing Your Offer is Risky Business

Call Tami Winbury Keller Williams Realty 805-798-3412 for all your Real Estatae Needs

Let's say you are a buyer and you have found a house that meets your needs and its listing price is in your financial comfort zone. You have reviewed recent comparable sales for like properties. You have established what you think the value of the home is. You are armed with a pre-approval if you are going to seek financing or have copies of statements verifying liquid funds if you are paying cash. You are ready to make an offer and open good-faith negotiations for the house.

Okay, so stop for a moment and think of yourself as a pitcher...a baseball pitcher. Think of the seller as the batter at the plate. The catcher's mitt is like the comps - the target you are aiming for. Are you with me?

Pitchers have more than one pitch. Each pitch is used for a different strategy. Offers are the same. You can make a full-price offer with super strong terms - a fast ball pitch down the middle of the plate. If a house is priced at market value and there is strong competition from other buyers, your fast ball is the best option. And you may have to go over the ask...that is put a little extra on that pitch!

You can make an offer somewhere at the bottom of the zone of established value. That is like throwing a slider or a breaking ball low and inside...if it is interesting enough (strong terms like a high percentage down, no mortgage contingency, waiving of inspections), the seller will take a look at that pitch and may swing (a decent counter offer comes back to you) or a check swing (no or low counter offer).

Or, you can combo up some strong terms with a sensible value price...that's like throwing a knuckleball in the strike zone and let the seller make contact. Get the ball in play and see if you can reach agreeable terms and price for both sides.

Lately, I am seeing too much of the dangerous pitch choice...the wild pitch. Lowball offers are like wild pitches. Wild pitches are so far out of the zone, the catcher doesn't see it coming, can't catch it and the batter is puzzled and trying not to get injured. Same thing with lowball offers. They insult the seller, confuse the agents about your motivation and there is no basis in anything concrete to support the offer. Pitchers who pitch wild pitches get pulled. The seller reacts the same way by making no counter offer and saying "NEXT!" and some other choice words I cannot type here. Your wild pitch of an offer has set a tone for the negotiation and vicariously painted a picture of yourself as being opportunistic, or unrealistic or not serious. If the seller is able to remain calm and let you make an improvement, you are lucky. But the damage has been done. You have left the door wide open for another buyer to come in and give the seller incentive to listen more closely to them as direct response to your lowball offer.

So, when you are ready to make an offer think of yourself as a pitcher with a choice of pitches. AVOID WILD PITCHES. Study your target. Get that offer over the plate and give the batter something to look at and consider swinging at! If you can put the ball in play, you are on your way to buying a house.

Call Tami Winbury Keller Williams Realty for all your California Real Estate needs 805-798-3412 DRE#01878369

Written by Daniel Gale in Long Island danielgale.com

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Financing after Bankruptcy, Foreclosure,  Short Sale?

How long must I wait before obtaining financing after bankruptcy, foreclosure or short sale? Call Tami Winbury Keller Williams Realty for all your Real Estate Needs 805-798-3412 www.ShortsSale.org A common question home buyers have today is: How long must I wait before obtaining financing after bankruptcy, foreclosure or short sale? Below is an overview by loan type of this important information. • Learn about home loans • Use loan calculators • Apply for a home loan Robert Clark Senior Loan Officer Prospect Mortgage NMLS# 440892 1000 Town Center Drive #300 Oxnard, CA 93036 Office: (805) 322-3418 Cell: (805) 302-9444 Fax: (877) 630-0933robert.clark@prospectmtg.com Call Tami Winbury Keller Williams Realty for all your Real Estate Needs 805-798-3412 www.ShortsSale.org

3 Keys to Qualify for Mortgage Using Cash Income

3 keys to qualify for mortgage using cash income

Tami Winbury Keller Williams Realty will help you find a great lender! 805-798-3412 www.ShortsSale.org Serving Ojai and Ventura County Real Estate


Q: For the past year I have been holding two part-time jobs: one job pays me in cash only and the other pays me with a traditional paycheck. The job that pays me in cash allows me to save about $3,000 per month, which I put into a savings account, so I have quite a bit of cash saved up. I am planning to buy a house within the next year. I would like to use this savings toward my down payment. Will this be questioned or cause me problems?
A: First, you should be very proud of yourself for having the discipline and drive to both work two jobs and to save up such a significant amount every month. But you're smart to ask in advance about how your cash income will be construed by lenders. In terms of your down payment, all funds that have been in your accounts for two months or longer at the time your loan is being underwritten are presumed to be yours by a lender.
Your bigger challenge will arise in the event that you want or need the lender to consider that $3,000 per month in cash income as part of the income that qualifies you for the mortgage. If so, there are several things you'll need to put in place.
First, if this is a part-time job, you'll probably need to be able to document that you've been there at least two years for the lender to allow you to use it to qualify.
Second, be prepared to produce a letter from your employer, known in the industry as a continuity letter, essentially verifying your employment and indicating that your employment is "expected to continue."

And third, as with any sort of income, you will be required to produce two years' worth of federal income tax returns; the bank will average your taxable income from the last two years and use that as the baseline income upon which you'll be qualified. (If you haven't been paying taxes on your cash income, but you will want or need to use it to qualify for a home loan, now's the time to meet with your tax preparer and your mortgage broker and evaluate whether it makes sense to file an amended tax return and pay the appropriate taxes on your income.)

Depending on the specific facts of your situation, your lender might require you to jump through additional hoops in terms of documenting that income; on the other hand, you might not need the income to count for mortgage purposes if you can qualify for a large enough home loan on the basis of your traditionally paid income.


Long story short: Loop your mortgage broker or other lending professional in on your situation, stat, so you can begin the process of positioning and documenting this income to make the most of it in your mortgage application and qualification process.

Tara-Nicholle Nelson is author of "The Savvy Woman's Homebuying Handbook" and "Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions


Tami Winbury Keller Williams Realty 805-798-3412 DRE#01878369 (repost

FHA Mortgages Make Homes Affordable For First Time Homebuyers

Call Tami Winbury Keller Williams Realty 805-798-3412 DRE#01878369 to assist First time Home Buyers in Ojai and Ventura real estate.

Have you been renting your home or apartment? Are you looking to start building equity in a home of your own? Home affordability has increased significantly over the past several years, and mortgage rates are pretty close to historical lows. Even if you don’t have a lot of money for a down payment, but you have a good credit history, you may be able to qualify for an FHA mortgage.
There are a lot of benefits to getting a mortgage insured by the FHA. Probably the most attractive feature to many people is that the FHA only requires a minimum down payment of 3.5% of the purchase price of the home. Most other sources of financing will require a down payment of 20% or more. Another benefit of an FHA mortgage is that the credit score requirements are somewhat more lenient than they are from traditional lenders.
As private capital dried up as a result of the housing crisis, the number of loans originated through the FHA increased significantly. As this occurred, the number of FHA loans that went into default increased as well. This has caused the FHA’s capital reserves to fall below the minimum levels mandated by Congress. As a result, there are some lawmakers who would like to raise FHA minimum down payments to 5 percent or more. While this move does not appear to be imminent, it is worth being aware of.
Another potential change to the FHA lending program that borrowers should be aware of is that the maximum FHA loan limit is going to fall from $729,750 to $625,500 at the end of September (unless conforming limits are extended, which is possible). In some high cost markets (such as parts of New York City, Miami, Boston, California, Boulder, and Washington D.C., among others) , FHA loan limits were temporarily increased in 2008. Now these higher loan limits are set to expire. If you live in one of these markets, and were thinking about using the FHA for financing, you probably want to make a purchase or refinance prior to October 1.

Today’s rate on a 30 year fixed FHA mortgage is 4.250 percent with an APR of 5.563 percent*. To find out if you qualify for an FHA mortgage today, call one of our licensed mortgage professionals at 877-868-2503 at to begin our free pre-approval process.
Mortgage rates are always changing.

Tami Winbury Keller Williams Realty
repost

Realtors Expect 1% Rise in Calif. Home Sales

Home sales in California, the most populous U.S. state, are likely to rise 1 percent in 2012 after being “essentially flat” this year, the California Association of Realtors forecast today. For information on your local market in Ojai and Ventura County real estate contact Tami Winbury Keller Williams Realty 805-798-3412 DRE#01878369

Sales of existing homes are expected to rise to 496,200 units from a projected 491,100 in 2011 and 491,500 last year, the Los Angeles-based group said in a statement. Median prices probably will rise 1.7 percent to $296,000 from $291,000 this year, according to the Realtors.
“The fundamentals of the housing market -- such as low mortgage rates, high housing affordability and favorable home prices -- are expected to continue,” Beth L. Peerce, president of the California association, said in the statement. “But at this point, a strong housing recovery will depend on consumer confidence, job creation and the availability and cost of home loans.”
California home sales, which account for about a 10th of the U.S. total, have fallen from 625,000 in 2005, while median prices are down from a peak of $560,300 in 2007, according to the group. The state ranks second nationally, after Nevada, in the pace of foreclosure filings. One of every 226 homes received a notice of default or was subject to a foreclosure sale in August, RealtyTrac Inc. reported Sept. 15.
It will take as long as five years for the state’s inventory of foreclosed properties to be absorbed, Leslie Appleton-Young, chief economist for the California Association of Realtors, said in a conference call today.

‘Closer to Five’

“It depends on the area,” Appleton-Young said. It will be“closer to five in the inland areas, where I don’t think we’ve seen a lot of the supply that’s going to come through come through,” she said.
California’s unemployment rate was 12.1 percent in August, also second to Nevada and above a U.S. rate of 9.1 percent, the state Employment Development Department reported Sept. 16.
The California Realtors’ forecast for this year was lowered from 505,000 sales projected in June and 502,000 in October.
For a free list of bank owned homes contact Tami Winbury 805-798-3412 DRE# 01878369 www.ShortsSale.org
Reporter on this story: John Gittelsohn

Google+

Google+ has been open to the public for about 11 weeks now… Of course, in that short time, there have been many a blog post on it with the topics ranging from how it may or may not be the death of Facebook or Twitter to the rants and raves regarding the likeliness of its survival. One thing is for sure – no one can predict what will happen with this new networking platform and honestly, there is no lost sleep over here. I satisfy my passion for social networking and connecting over on the aforementioned sites… Well, except for one thing – my beloved Hangout (aka: cloud video conferencing). Contact Tami Winbury Keller Williams Realty 805-798-3412 DRE# 01878369 for the best real estate Online resources and marketing. It was “love at first experience”… that moment I attended my first Hangout. Sure, you can video chat inside Facebook or Skype, but the technology on those two platforms can’t touch the Hangout. The G-geeks behind the tech truly leverage the power of Google’s infrastructure - not like the peer-to-peer (P2P) tech embraced by the others above. Not to mention, one of my favorite Google+ Hangout features, the automatic switch of focus to the person talking; promoting that person to the main screen, while the other chatters are featured in small tiles underneath the big screen. Yes, I’ve heard the loud whisper of complaints about the browser integration Hangouts currently require you to download a plug-in… but no worries, Google is already working on a solution for this. Alright, that’s enough geek-speak… for now, all you need to know is that their current solution dramatically reduces the latency experienced in multi-user video chat – a definite PLUS in my book. (pun intended) Oh, and it is FREE. People often ask me what happens in all of the Hangouts I participate in and host… and my answer is simply – CONNECT. Your sphere is likely growing “geographically” like mine is, right? If I only stop and catalogue the Inman events attended over the last 18 months… all of them have inspired and solidified many connections with people from all over the globe! So, how can anyone truly keep in touch with these new connections IRL – especially when there are hundreds or thousands of miles between them? Well, my solution has been IVL (In Virtual Life) using Hangouts. For the record, the “Hangout” was created to be serendipitous and “public” in nature. If you can SEE people hanging out that means you are welcome to join in… period. Article continues below HOWEVER, most of my interactions are in focused, invitation-specific Hangouts. I just create a circle of friends on Google + and “schedule” Hangouts with them using Google Calendar. For example, my #powerwomen group meets twice a month to share business development ideas, inspire progress/growth, and provide a valuable support network. Other fave Hangouts have been about harnessing the power of apps like Evernote, brainstorming ways to integrate an iPad into Real Estate client interactions, and even watching a few YouTube training videos and then discussing them – right inside Hangout. Still not convinced? Here are some more examples of how I use it: My BFF shoots me a text that she needs to chat… and my immediate reply is text or Hangout? A coaching client on the East Coast has a question about her biz strategy – the two of us pop on Hangout and hash it out. I also actually offered the newest #swaggagurlz team member her job via Hangout!! This communication platform has replaced nearly 80% of the “phone/conference calls” on my calendar. If the other person is not on Google+, I send them an invite, walk them through the set up, and voilà- we are off and Hanging Out! Every single connection has gone on to implement the Hangout in their lives. The bottom line is that a Hangout is more focused and productive than a call. Simply put, you HAVE to pay attention – they can SEE you. Need I say more? Okay, how about they are usually more FUN and engaging too? If you haven’t put your toe in the G+ water yet – do yourself a favor and try it, if only to adventure in “Hangout Land”. I am happy to share a Google Plus invite if you need one… and believe me, once you are there, Google’s “How To Host a Hangout” instructions will be all you need to get going! If you are using Hangouts in a creative way or have a unique idea, please share that in the comments below. Also, Google announced another round of exciting upgrades coming to Hangouts, including: screensharing, sketchpad, and Google docs integrations… Let’s imagine the possibilities together! Happy Hanging Out Reposted by Tami Winbury Keller Williams Realty 805-798-3412

How Fannie Mae and Freddie Mac Save You Money

Call Tami Winbury Keller Williams Realty 805-798-3412

Homeowners who use Fannie Mae and Freddie Mac mortgages save thousands of dollars in interest payments each year.

Loans owned or guaranteed by Fannie Mae and Freddie Mac save homeowners thousands in interest payments. Image: Image Source/Getty Images

If all you read is the headlines, you might think mortgage market giants Fannie Mae and Freddie Mac have cost the taxpayers billions. However, a deeper look into these two government-sponsored enterprises (GSEs) reveals a decades-long history of making mortgages more affordable, benefiting not just individual homeowners, but whole communities.
Fannie Mae and Freddie Mac are federally chartered organizations designed to bring global capital to local communities by purchasing and guaranteeing loans made by mortgage lenders.

As a homeowner, there are several ways you benefit from Fannie Mae and Freddie Mac. If your loan is owned or guaranteed by one of them, you pay a lower interest rate. And, when the time comes to sell your home, the pool of buyers capable of getting a mortgage is much wider thanks to Fannie Mae and Freddie Mac. To see how a loan guaranteed by one of the GSEs helps you save money, download our free PDF worksheet.

Homeowners who qualify for a Fannie Mae or Freddie Mac mortgage, called a conventional loan, typically get interest rates that are ¼% to ½% lower than non-Fannie Mae, non-Freddie Mac loans. At times when other mortgage funding dries up, the rate difference between GSE and non-GSE loans has jumped to between 1% and 2%.

On average, homeowners who have GSE loans save $17,000 over the life of a 30-year loan. Since 30 million Americans have a GSE-backed loan, that adds up to more than $500 billion in savings for U.S. homeowners.

GSEs stabilize the market

Despite the financial advantage the GSEs create, not everyone supports their mission. Some critics worry that Fannie Mae and Freddie Mac are taking on too much financial risk by guaranteeing mortgages in the current economic climate. Others believe the GSEs should be purely private entities, functioning without an implied or explicit government guarantee at all.

Falling home prices and rising unemployment have challenged the GSEs. When the subprime mortgage crisis hit and expanded into the prime market, there was a sharp decline in home prices and a sharp increase in mortgage delinquencies and foreclosures. The crisis put extreme financial pressure on both Fannie Mae and Freddie Mac.

By mid-2010, the two companies had required $145 billion of taxpayer support. However, without those funds, the GSEs would have gone under, putting an end to the steady flow of funds into the U.S. mortgage market.

“Absent the engagement of the government through the GSEs and FHA, what was a bad situation would have been catastrophic for the housing market, and potentially catastrophic for the broader economy,” says Nicolas P. Retsinas, director of Harvard University’s Joint Center for Housing Studies and Freddie Mac board member.

Today, the GSEs remain one of the few reliable sources of home mortgage funding, along with mortgages insured by the Federal Housing Administration. In 2010, 80% of U.S. home loans were bought, or guaranteed, by Freddie Mac and Fannie Mae.

Loan limits

Congress sets a maximum Fannie Mae and Freddie Mac maximum loan limit. Homeowners who need to sell find that there are more borrowers for homes priced at or below the GSE maximum loan amount, which is $417,000, or up to as much as $729,750 for some high-cost areas.

It can be hard for buyers to find lenders willing to lend more than the GSE loan limits because lenders have to hold such loans in their bank portfolio in the current financial situation. Until the recent financial crisis, lenders were able to sell mortgages above the GSE limits to companies that turned them into private mortgage-backed securities.

Until the summer of 2008, the nationwide loan limit was $417,000, far too low to be of use to many homeowners and prospective homebuyers in California and other high cost areas, says U.S. Representative Brad Sherman (D-Calif.), who has proposed legislation raising the loan limits permanently to $729,750.

“Buyers in high cost areas, such as Southern California, are at an extreme disadvantage simply because of where they choose to work and live,” he says. “For the overall economy to recover, every part of the housing market needs to improve, including high cost areas.”

Higher loan limits can also help homesellers. If the limits correspond to market values, buyers can use less-expensive GSE loans, so the number of buyers who can afford your home increases. With more potential buyers, competition for individual properties increases. With more competition, the value of the property can increase.

In the final analysis, the benefits of the GSEs outweigh the cost. Their long track record of making mortgages available in all markets benefits homeowners, communities, and the nation as a whole.
Jeannette Bernay

Tami Winbury Keller Williams Realty 805-798-3412 DRE#01878369 http://www.ShortsSale.org

Should You Ask Seller to Carry-back Mortgages

How to Seller Carry-back Mortgages

Selling a seller carry-back can help to generate immediate cash. Call Tami Winbury Keller Williams Realty 805-798-3412 www.shortssale.org

Sometimes sellers agree to make a loan to help a home buyer buy a home. Sellers who agree to finance all or part of the purchase price receive documents that evidence the terms and conditions of the loan. The seller carry-back instruments are typically recorded in the public records. Seller carry-backs can be in the form of a mortgage, trust deed, land contract or even a lease purchase. Most carry-backs are secured by a promissory note.

Reasons Sellers Carry-Back Mortgages

When interest rates are high or credit guidelines are tightened, buyers ask sellers to act in place of the bank and carry the financing for them. If the home is free and clear without any existing loans, the seller might carry all the financing or the buyer might get a conventional fixed-rate loan for part of the purchase price and ask the seller to finance the balance.
If there is an existing loan secured to the home, sellers might let buyers take over the existing loan payments, although the loan will remain in the seller's name. The difference between the sales price, minus the down payment and the existing loan is the equity the seller would carry as a loan.
Sellers agree to carry part or all of the financing for a variety of reasons, some of which are:

• It's a soft or down real estate market. Owner-carried financing will attract a greater pool of buyers.
• The buyers cannot qualify for a conventional loan.
• The seller is facing capital gains on the sale of the property and can defer that portion which is financed.
• The financing gives the seller a better rate of return than a money market account.
• Sellers sometimes want a monthly income.
• The property is non conforming and no lender will loan on it.
• Often sellers can receive a higher sales price in exchange for offering owner financing.

Drawbacks of Seller Carry-Back Mortgages

• The buyer might default on the payments, causing the seller to initiate foreclosure proceedings.
• After foreclosure, making up back payments to the existing lender, if there is an existing loan, paying closings costs and real estate commissions, the seller might not be left with any equity.
• Sellers who carry back mortgages have tied up cash by securing it to the property.

 Converting the Seller Carry-Back Into Cash
There is a large pool of private investors in the marketplace who regularly buy seller carry-back instruments. However, they do not pay face value. Investors look at the yield they will receive over the term of the investment, and this yield can be increased if the investor pays less than the outstanding balance due.
The discounts vary across the board, but sellers can expect to lose 10 to 30 percent of the unpaid balance, depending on the following:

• Seasoning. This means how long the seller has been receiving payments on the carry-back financing. A seller who has received timely payments over a 12-month period will receive more cash than a seller holding a brand new mortgage.
• Interest rate. The higher the interest rate, the lower the discount. A lower interest rate will attract investors who want a higher discount.
• Mortgage term. Long-term mortgages such as a 30-year mortgage are not as attractive to an investor as a short-term mortgage; therefore, long-term mortgages are typically sold at higher discounts than short-term.
• Prepayment penalties and late charges. Carry-back mortgages that contain a prepayment penalty and a late charge are also more attractive to investors, which affects the discount rate applied.
• Loan-to-Value Ratio. Lower loan-to-value ratios receive more favorable discounts. Higher ratios are considered greater risk and the discounts are steeper.

Investors also consider the type of security, its appraised value, location, amenities, condition and the credit-worthiness, if known, of the buyers.
 Selling Fees For a Carry-back Mortgage
The investor may ask the seller of a carry-back mortgage to pick up all costs associated with the sale of the note and mortgage. You might be asked to pay such fees as:

• Title Policy.
• Escrow Fee.
• Document Preparation.
• Appraisal.
• Beneficiary Statement.
• Courier / Wire Transfers.
• Recording.
• Commission, if any.

 Finding Investors to Buy Carry-Back Mortgages
There are private investors and commercial investors. Some are represented by mortgage brokers, some are not:

• Subscribe to investment newsletters.
• Search the Internet.
• Look in your local newspaper's classified ads.
• Call Tami Winbury Keller Williams Realty 805-798-3412 DRE#01878369 who deal in investment properties.
• Let your fingers do the walking in the Yellow Pages.
• Ask friends and family members.

_{Elizabeth Weintraub,} About.com Guide

Moving with Children

Moving with Children

Moving can be especially unnerving for children. Younger kids often become confused when their daily routine is disrupted, while adolescents fear the loss of friends and dread making new ones. But there are steps you can take to help alleviate their fears, and get them involved in the move.
Your Family Friendly Service Realtor call Tami Winbury Keller Williams Realty 805-798-3412 Helping you and Your Family!

Communication Is Key. First, it's important for parents to explain the moving process by providing children with as much information as possible and allowing them to participate in decision-making discussions. This will help relieve anxiety.

Talk about the positive aspects of their new home, school and neighborhood. Try to communicate the idea that the new home can be even better than the old one. Encourage questions and invite children to talk about their worries.

Manage Your Stress. Children are attuned to parental stress-levels, so try to manage your stress as much as possible. Having a plan, creating a moving checklist, staying organized and packing wisely are all ways to minimize your moving-day stress.

Rehearse Ahead of Time. For younger children, the move should be an exciting adventure. Act out moving day ahead of time by letting your children pack their things, and tell moving stories to build anticipation.

If possible, take children with you to look at potential, neighborhoods, homes and schools. This can ease the transition. If your children are really young, consider hiring a baby-sitter while you pack. Otherwise, let your kids participate in the move, so they can understand what's going on. Even so, don't be dismayed if your child exhibits regressive behavior. It's normal.

Make It Fun. For older children, a move that involves leaving friends and favorite hangouts can be extremely difficult. Help them say good-bye to friends by hosting a good-bye party. Emphasize how easy it is to keep in touch through e-mail, IMs and phone. If at all possible, time the move to coincide with the start of a new school year or term.

Get Back to the Status Quo. Once you are settled in your new home, resume familiar routines as soon as possible. Be sure family traditions – like pizza night – aren't forgotten in your new home.

It's Okay to Cry. Don't take it personally if your children blame you for the difficulty of a move. No matter the preparation, allow children some time to grieve.
Your Family Friendly Service Realtor call Tami Winbury Keller Williams Realty 805-798-3412 www.ShortsSale.org
Inman

HUD GRANTS $10M TO HELP FAMILIES DEAL WITH MORTGAGE MODIFICATION

HUD ANNOUNCES MORE THAN $10 MILLION IN COUNSELING GRANTS TO HELP FAMILIES DEAL WITH MORTGAGE MODIFICATION AND MORTGAGE SCAMS Funding 139 local housing counseling agencies & 23 intermediary agencies nationwide: Call Tami Winbury at Keller Williams Realty today for answers about Short Sales, Foreclosures and Traditional Real Estate Today! DRE#01878369 www.shortssale.org In an effort to help families keep their homes and avoid mortgage scams, HUD today (09/02/11/) announced more than $10 million in housing counseling grants. This is unspent funding from the 2010 appropriation that was re-competed and awarded to HUD-approved counseling agencies. "The funding announced today is specifically earmarked to provide counseling assistance relating to mortgage modification, avoiding potential mortgage scams, and assisting victims of scams," said HUD Secretary Shaun Donovan. "It is crucial that we support these agencies in helping struggling families do whatever is possible to avoid foreclosure without being victimized by so called mortgage 'rescue' companies." HUD is awarding $3 million to 139 local housing counseling agencies nationwide, and more than $7 million to 23 housing counseling intermediary agencies. These funds are designed to serve residents in the nation’s top 100 metropolitan areas that are experiencing the worse foreclosure problems. The funding is predominately for foreclosure prevention counseling, assistance with application to Federal and other mortgage modification and loss mitigation programs, and related outreach. It will also support outreach and counseling efforts designed to identify and assist victims of mortgage modification scams, and report those cases to the applicable authorities. HUD awards grants under the housing counseling program through a competitive process. Organizations that apply for grants must be HUD-approved and are subject to performance reviews to maintain their HUD-approved status. For a list of all grants, organized by state, visit HUD's website at: http://portal.hud.gov/hudportal/documents/huddoc?id=CnslngGrantsState110829.xlsx For summary of each grant, organized by state, visit HUD's website at: http://portal.hud.gov/hudportal/documents/huddoc?id=CnslngGrantsSum110824.pdf To find out more about HUD’s Housing Counseling Program, please visit: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hcc/hcc_home For information on all of HUD’s Grant Opportunities please visit: http://portal.hud.gov/portal/page/portal/HUD/program_offices/administration/grants/fundsavail Call Tami Winbury Keller Williams Realty today! Watch this video to discover what a HUD home is: http://www.youtube.com/watch?v=TzeKMRONlrs

5 reasons Real Estate hasn't recovered

5 reasons Real Estate hasn't recovered What's happening with jobs, shadow inventory? The housing bubble of 2006 burst in large part due to lax lending practices that led up to the housing recession. The collateral damage from these practices hammered personal fortunes through foreclosures and investment losses. The devaluation of mortgage-backed securities tied to nonperforming mortgages kick-started the falling dominoes in this global financial crisis. Now the mortgage lending industry is making up for their slipshod business practices by tightening credit standards to an extreme level. This has partly to do with regulations recently put in place that make one wonder if anyone consulted real estate professionals and economists before they were enacted. It's commonly agreed that the easy-money lending practices that were in vogue before the downturn in 2006-07 should be left behind. Then, buyers didn't need to qualify to get a stated-income mortgage. Unrealistic teaser-rate mortgages were popular, and 100 percent and 110 percent financing was available. http://www.youtube.com/watch?v=Ivp4YqGCI-s Buyers had little at risk except their good credit, which for many went up in smoke when home prices stopped rising and they were left upside down in their house because the price they could sell for had dropped lower than the balance owed on their mortgage. Not only were they precluded from borrowing more, but many who lost jobs fell behind on their mortgage payments and lost their homes in foreclosure. It's a good practice for lenders to actually qualify buyers before giving them a mortgage. Buyers should make a cash down payment. However, many lenders want down payments equal to 20 percent or 25 percent of the purchase price. Proposed risk-retention rules that would require lenders have more "skin in the game" when offering loans with less than a 20 percent down payment has met opposition from real estate industry and consumer groups. Regulations should be implemented that protect lenders, buyers and investors while fueling a sustainable recovery in the housing market. Lenders also need to streamline their underwriting procedures. Underwriting criteria have tightened in the last six months. Buyers are told their loan has been formally approved; based on that, they remove their financing contingency. Then, it's not uncommon for the lender to ask the buyers for more documentation. This leads to delays in closings. Some deals fall apart and put the buyers' deposit at risk. HOUSE HUNTING TIP: Slow job growth is holding the housing market back in many areas. On the national level, only 25 percent of the jobs lost in the great recession have been replaced. The recovery has been plagued with joblessness and underemployment. The national unemployment rate currently hovers around 9 percent. Because the home-sale market is a localized business, the housing recovery will be uneven. Some areas, such as Texas; Washington, D.C.; and the Silicon Valley in the San Francisco Bay Area, have strong local economies and are generating sufficient jobs to actually produce a pickup in local housing markets. To illustrate how important the local factor is, Silicon Valley has strong job growth even though the unemployment rate in California is about 11 percent. The additional major factor that's keeping housing down is the backlog of foreclosures. Lenders are in some cases holding houses they've foreclosed on off of the market. This is sometimes referred to as the "shadow inventory." Lenders have tried to keep from flooding an already challenged real estate market with more inventory, which could cause prices to decline further. THE CLOSING: However, for a sustainable recovery, these properties need to be sold. Call Tami Winbury Keller Williams Realty 805-798-3412 today! Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist

Monday, August 29th, 2011 REO, preforeclosure properties selling at a larger discount

REO, preforeclosure properties selling at a larger discount RealtyTrac: Share of distressed real estate sales dips in Q2 The share of bank-owned homes and homes in some stage of foreclosure dropped 5 percent from the first quarter to the second quarter, falling from 36 percent to 31 percent, but was up from 24 percent in second-quarter 2010, according to a report released today by foreclosure data provider RealtyTrac. For a Free List of Bank Owned Home contact Tami Winbury Keller Williams Realty 805-798-3412 http://www.shortssale.org And distressed properties are selling at a larger discount these days, RealtyTrac reported: The average sales price of a bank-owned (also known as real estate owned or REO) home was $145,211 in the second quarter, which was about 40 percent below the average sales price of a nonforeclosure home. That compares with a 36 percent discount in first-quarter 2011 and a 34 percent discount in second-quarter 2010. The average sales price of a preforeclosure home (preforeclosures, which are homes in default or scheduled for sale at public auction, are often sold in a short-sale process) was $192,129 in the second quarter, which is 21 percent below the average sales price of a nonforeclosure home. That compares with a 17 percent discount in first-quarter 2011 and a 14 percent discount in second-quarter 2010. There were 162,680 sales of bank-owned homes to third parties in the second quarter, RealtyTrac also reported, roughly flat compared with the 162,900 reported in the first quarter and down 10 percent from second-quarter 2010. REO sales accounted for 19 percent of home sales in the second quarter, compared with 23 percent in the first quarter and 15 percent in second-quarter 2010. There were 102,407 sales of preforeclosure homes to third parties in the second quarter of this year, up 19 percent from the first quarter but down 12 percent compared to second-quarter 2010. These sales accounted for 12 percent of sales in the second quarter of this year, flat with the first quarter and up 10 percent compared to second-quarter 2010. "The jump in preforeclosure sales volume, coupled with bigger discounts on preforeclosures and a shorter average time to sell preforeclosures, all point to a housing market that is starting to focus on more efficiently clearing distressed inventory through more streamlined short sales -- at least in some areas," said James Saccacio, RealtyTrac CEO, in a statement. "This gives distressed homeowners who do not qualify for loan modification or refinancing -- or who are not interested in those options and want to sell -- a better chance of completing a short sale to avoid foreclosure." Expedited short sales, he added, "also give lenders the opportunity to more pre-emptively purge nonperforming loans from their portfolios," and avoid a lengthy foreclosure and REO process. Among those metro areas with at least 100 foreclosure-related sales in the second quarter, Louisville, Ky., had the largest average foreclosure discount -- 54 percent below the average sales price of nonforeclosure homes. Florida's Sebastian-Vero Beach metro area was second on the list with an average foreclosure discount of 53 percent, followed by Milwaukee (51 percent), Pittsburgh (51 percent), and Kalamazoo, Mich. (50 percent), RealtyTrac reported. Top 10 States with Largest Volume of Foreclosure Sales in Q2 2011 California 69,897 Florida 34,558 Arizona 25,756 Nevada 15,685 Michigan 11,668 Texas 11,517 Georgia 10,485 Illinois 9,355 Colorado 8,044 Ohio 6,868 Top 10 States with Largest Share of Foreclosure Sales in Q2 2011 (as a percentage of total sales) Nevada 65.43% Arizona 56.64% California 51.31% Michigan 40.61% Georgia 38.42% Colorado 35.90% Florida 35.06% Illinois 34.01% Oregon 33.41% Idaho 29.59% Utah 26.85% Top 10 States with Highest Average REO Discount New Jersey 53.53% New York 52.99% Kentucky 51.58% Illinois 49.89% California 49.64% Ohio 49.04% Maryland 48.48% Wisconsin 46.69% Michigan 45.95% Virginia 45.38% Top 10 States with Highest Average Preforeclosure Discount Missouri 43.19% Tennessee 39.24% Mississippi 39.22% Indiana 36.93% Maryland 36.11% California 35.95% Texas 35.03% Delaware 33.84% Georgia 33.03% Kentucky 32.76% 9 States with Rise in Share of Foreclosure Sales (Q2 2010-Q2 2011) Wyoming 96.63% Nevada 30.71% Montana 25.59% Delaware 24.93% Washington 22.61% Iowa 21.13% Arizona 16.07% Colorado 5.23% Hawaii 4.21% Top 10 States with Largest Decline in Share of Foreclosure Sales (Q2 2010-Q2 2011) New Hampshire -50.38% Indiana -48.76% Maine -47.40% New Jersey -46.42% New York -42.65% Nebraska -42.33% Mississippi -41.76% Utah -34.79% North Carolina -32.11% Kentucky -30.82% For a Free List of Bank Owned Homes, PreForeclosures, Short Sales, REO's contact Tami Winbury Keller Williams Realty 805-798-3412 http://www.shortssale.org