Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
A Complete Guide to Buying Foreclosures and Short Sales Originally Presented October 29 th , 2008 Presented By: PorchLight...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul>
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overv...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overv...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overv...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overv...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul>
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To C...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To C...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To C...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To C...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul>
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type q...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type q...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type q...
A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type q...
Overview of the California Housing Crisis
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul>
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cyc...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tippin...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul>
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of ho...
A Complete Explanation of  Short Sales
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul>
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul>
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of  Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sa...
A Complete Explanation of Foreclosures
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul>
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul...
Tips to Find the Best Deals and Make Strong Offers
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that y...
Wrap up and Take Aways
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 ...
Wrap up and Take Aways <ul><ul><li>We are the Lender  for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo L...
Wrap up and Take Aways <ul><ul><li>We are the Lender  for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo L...
Wrap up and Take Aways <ul><ul><li>We are the Lender  for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo L...
Wrap up and Take Aways <ul><ul><li>We are the Lender  for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo L...
Wrap up and Take Aways <ul><ul><li>We are the Lender  for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo L...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information f...
Schedule a Live Home Buyer Workshop <ul><li>Low Down and No Down Payment Purchase Programs  </li></ul><ul><li>What you nee...
Thank you for Attending Please make suggestions and recommendations for future on-line class topics Presented By: PorchLig...
Upcoming SlideShare
Loading in …5
×

Complete Guide To Short Sales And Foreclosures

1,434 views

Published on

A complete guide to short sales and foreclosures introduces home buyers to these two common types of home sales.

  • Be the first to comment

Complete Guide To Short Sales And Foreclosures

  1. 1. A Complete Guide to Buying Foreclosures and Short Sales Originally Presented October 29 th , 2008 Presented By: PorchLight Real Estate Services Presenter: Scott Schang, Broker / President Contact Information: Phone: 866-667-6724 [email_address]
  2. 2. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul>
  3. 3. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overview of California Housing Crisis </li></ul>
  4. 4. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overview of California Housing Crisis </li></ul><ul><li>A Complete Explanation of Short Sales </li></ul>
  5. 5. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overview of California Housing Crisis </li></ul><ul><li>A Complete Explanation of Short Sales </li></ul><ul><li>A Complete Explanation of Foreclosures </li></ul>
  6. 6. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Topics We Will Cover In This Class </li></ul><ul><li>Overview of California Housing Crisis </li></ul><ul><li>A Complete Explanation of Short Sales </li></ul><ul><li>A Complete Explanation of Foreclosures </li></ul><ul><li>Tips to Finding the Best Deals and How to Make Strong Offers </li></ul>
  7. 7. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul>
  8. 8. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul>
  9. 9. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul><ul><li>Identify and Explain the Mistakes of the Past </li></ul>
  10. 10. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul><ul><li>Identify and Explain the Mistakes of the Past </li></ul><ul><li>Educate you about the current California Real Estate market </li></ul>
  11. 11. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>The Purpose and Goals of this Class </li></ul><ul><li>To Create and Empower Home Owners </li></ul><ul><li>Identify and Explain the Mistakes of the Past </li></ul><ul><li>Educate you about the current California Real Estate market </li></ul><ul><li>Empower you with the ability to make educated decisions in the home buying process </li></ul>
  12. 12. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul>
  13. 13. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions and Answers Box </li></ul></ul>
  14. 14. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions and Answers Box </li></ul></ul><ul><ul><li>I will answer questions live at end of webinar </li></ul></ul>
  15. 15. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions and Answers Box </li></ul></ul><ul><ul><li>I will answer questions live at end of webinar </li></ul></ul><ul><ul><li>The only dumb question the one you don’t ask </li></ul></ul>
  16. 16. A Complete Guide to Buying Foreclosures and Short Sales <ul><li>Questions and Answers </li></ul><ul><ul><li>You may type questions in at any time during the presentation – Questions and Answers Box </li></ul></ul><ul><ul><li>I will answer questions live at end of webinar </li></ul></ul><ul><ul><li>The only dumb question the one you don’t ask </li></ul></ul><ul><ul><li>Let’s Get Started! </li></ul></ul>
  17. 17. Overview of the California Housing Crisis
  18. 18. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul>
  19. 19. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul>
  20. 20. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul>
  21. 21. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul>
  22. 22. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul>
  23. 23. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul>
  24. 24. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul><ul><ul><ul><li>No income or asset documentation </li></ul></ul></ul>
  25. 25. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul><ul><ul><ul><li>No income or asset documentation </li></ul></ul></ul><ul><ul><li>Everybody’s in on it – appraisers, lenders </li></ul></ul>
  26. 26. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul><ul><ul><ul><li>No income or asset documentation </li></ul></ul></ul><ul><ul><li>Everybody’s in on it – appraisers, lenders </li></ul></ul><ul><ul><li>Complete disregard for risk management </li></ul></ul>
  27. 27. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul><ul><ul><ul><li>No income or asset documentation </li></ul></ul></ul><ul><ul><li>Everybody’s in on it – appraisers, lenders </li></ul></ul><ul><ul><li>Complete disregard for risk management </li></ul></ul><ul><ul><li>High risk buyers flood market </li></ul></ul>
  28. 28. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul><ul><ul><ul><li>No income or asset documentation </li></ul></ul></ul><ul><ul><li>Everybody’s in on it – appraisers, lenders </li></ul></ul><ul><ul><li>Complete disregard for risk management </li></ul></ul><ul><ul><li>High risk buyers flood market </li></ul></ul><ul><ul><li>Property values sky rocket </li></ul></ul>
  29. 29. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What makes this cycle different? </li></ul><ul><ul><li>Sellers market artificially created </li></ul></ul><ul><ul><li>Wall Street AND Main Street greed </li></ul></ul><ul><ul><li>Availability of creative financing </li></ul></ul><ul><ul><ul><li>No down payment required stated income </li></ul></ul></ul><ul><ul><ul><li>No income or asset documentation </li></ul></ul></ul><ul><ul><li>Everybody’s in on it – appraisers, lenders </li></ul></ul><ul><ul><li>Complete disregard for risk management </li></ul></ul><ul><ul><li>High risk buyers flood market </li></ul></ul><ul><ul><li>Property values sky rocket </li></ul></ul><ul><ul><li>New home owners strip equity as fast as it appears </li></ul></ul>
  30. 30. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul>
  31. 31. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul>
  32. 32. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul>
  33. 33. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul>
  34. 34. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul><ul><ul><li>Five Alarm fire - Get out FAST </li></ul></ul>
  35. 35. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul><ul><ul><li>Five Alarm fire - Get out FAST </li></ul></ul><ul><li>A Buyer’s Market with No Buyers </li></ul>
  36. 36. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul><ul><ul><li>Five Alarm fire - Get out FAST </li></ul></ul><ul><li>A Buyer’s Market with No Buyers </li></ul><ul><ul><li>Short sales flood the market </li></ul></ul>
  37. 37. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul><ul><ul><li>Five Alarm fire - Get out FAST </li></ul></ul><ul><li>A Buyer’s Market with No Buyers </li></ul><ul><ul><li>Short sales flood the market </li></ul></ul><ul><ul><li>Foreclosures rise rapidly </li></ul></ul>
  38. 38. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul><ul><ul><li>Five Alarm fire - Get out FAST </li></ul></ul><ul><li>A Buyer’s Market with No Buyers </li></ul><ul><ul><li>Short sales flood the market </li></ul></ul><ul><ul><li>Foreclosures rise rapidly </li></ul></ul><ul><ul><li>Financing constricts to old reliable </li></ul></ul>
  39. 39. Overview of the California Housing Crisis <ul><li>The Real Estate Market is Cyclical </li></ul><ul><li>What was the Tipping Point? </li></ul><ul><ul><li>Introductory rates / payments ended </li></ul></ul><ul><ul><li>Payments jump / Equities maxed out </li></ul></ul><ul><ul><li>Mortgage delinquencies rise rapidly </li></ul></ul><ul><ul><li>Five Alarm fire - Get out FAST </li></ul></ul><ul><li>A Buyer’s Market with No Buyers </li></ul><ul><ul><li>Short sales flood the market </li></ul></ul><ul><ul><li>Foreclosures rise rapidly </li></ul></ul><ul><ul><li>Financing constricts to old reliable </li></ul></ul><ul><ul><ul><li>30 year fixed – full documentation only </li></ul></ul></ul>
  40. 40. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul>
  41. 41. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul>
  42. 42. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul>
  43. 43. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul><ul><li>California’s Market – The New Frontier </li></ul>
  44. 44. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul><ul><li>California’s Market – The New Frontier </li></ul><ul><ul><li>All cash buyers </li></ul></ul>
  45. 45. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul><ul><li>California’s Market – The New Frontier </li></ul><ul><ul><li>All cash buyers </li></ul></ul><ul><ul><li>First time home buyers </li></ul></ul>
  46. 46. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul><ul><li>California’s Market – The New Frontier </li></ul><ul><ul><li>All cash buyers </li></ul></ul><ul><ul><li>First time home buyers </li></ul></ul><ul><li>Majority of homes for sale are distressed </li></ul>
  47. 47. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul><ul><li>California’s Market – The New Frontier </li></ul><ul><ul><li>All cash buyers </li></ul></ul><ul><ul><li>First time home buyers </li></ul></ul><ul><li>Majority of homes for sale are distressed </li></ul><ul><ul><li>Short Sales </li></ul></ul>
  48. 48. Overview of the California Housing Crisis <ul><li>With Adversity comes Opportunity </li></ul><ul><li>Over-correction of housing values </li></ul><ul><ul><li>Values drop over 20-50% + State wide </li></ul></ul><ul><li>California’s Market – The New Frontier </li></ul><ul><ul><li>All cash buyers </li></ul></ul><ul><ul><li>First time home buyers </li></ul></ul><ul><li>Majority of homes for sale are distressed </li></ul><ul><ul><li>Short Sales </li></ul></ul><ul><ul><li>Foreclosures </li></ul></ul>
  49. 49. A Complete Explanation of Short Sales
  50. 50. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul>
  51. 51. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul>
  52. 52. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul>
  53. 53. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul>
  54. 54. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul>
  55. 55. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul>
  56. 56. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul><ul><li>What you must know about Short Sales </li></ul>
  57. 57. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul><ul><li>What you must know about Short Sales </li></ul><ul><ul><li>Sales Price - What you see is NOT what you get </li></ul></ul>
  58. 58. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul><ul><li>What you must know about Short Sales </li></ul><ul><ul><li>Sales Price - What you see is NOT what you get </li></ul></ul><ul><ul><li>Once an offer is submitted –process starts </li></ul></ul>
  59. 59. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul><ul><li>What you must know about Short Sales </li></ul><ul><ul><li>Sales Price - What you see is NOT what you get </li></ul></ul><ul><ul><li>Once an offer is submitted –process starts </li></ul></ul><ul><ul><li>Lenders were not prepared for volume </li></ul></ul>
  60. 60. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul><ul><li>What you must know about Short Sales </li></ul><ul><ul><li>Sales Price - What you see is NOT what you get </li></ul></ul><ul><ul><li>Once an offer is submitted –process starts </li></ul></ul><ul><ul><li>Lenders were not prepared for volume </li></ul></ul><ul><ul><li>Approval process takes 3-6 months or more </li></ul></ul>
  61. 61. A Complete Explanation of Short Sales <ul><li>What is a Short Sale? </li></ul><ul><ul><li>Seller is current home owner </li></ul></ul><ul><ul><li>Seller is usually behind on payments </li></ul></ul><ul><ul><li>Seller owes more than home is worth </li></ul></ul><ul><ul><li>Seller attempts to sell home to avoid foreclosure </li></ul></ul><ul><ul><li>The only way to avoid foreclosure is to start sale </li></ul></ul><ul><li>What you must know about Short Sales </li></ul><ul><ul><li>Sales Price - What you see is NOT what you get </li></ul></ul><ul><ul><li>Once an offer is submitted –process starts </li></ul></ul><ul><ul><li>Lenders were not prepared for volume </li></ul></ul><ul><ul><li>Approval process takes 3-6 months or more </li></ul></ul><ul><ul><li>Lender will appraise and approve sales price </li></ul></ul>
  62. 62. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul>
  63. 63. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul>
  64. 64. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul>
  65. 65. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul>
  66. 66. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul><ul><ul><li>Want to close FAST </li></ul></ul>
  67. 67. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul><ul><ul><li>Want to close FAST </li></ul></ul><ul><ul><li>Negotiators are accessible and ready to deal </li></ul></ul>
  68. 68. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul><ul><ul><li>Want to close FAST </li></ul></ul><ul><ul><li>Negotiators are accessible and ready to deal </li></ul></ul><ul><li>What to offer on a Short Sale </li></ul>
  69. 69. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul><ul><ul><li>Want to close FAST </li></ul></ul><ul><ul><li>Negotiators are accessible and ready to deal </li></ul></ul><ul><li>What to offer on a Short Sale </li></ul><ul><ul><li>Have your agent complete a market analysis </li></ul></ul>
  70. 70. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul><ul><ul><li>Want to close FAST </li></ul></ul><ul><ul><li>Negotiators are accessible and ready to deal </li></ul></ul><ul><li>What to offer on a Short Sale </li></ul><ul><ul><li>Have your agent complete a market analysis </li></ul></ul><ul><ul><li>Offer approved short sale price for quick sale </li></ul></ul>
  71. 71. A Complete Explanation of Short Sales <ul><li>New short sale opportunity to watch for </li></ul><ul><li>Approved short sales </li></ul><ul><ul><li>Approval process complete </li></ul></ul><ul><ul><li>Original buyer long gone </li></ul></ul><ul><ul><li>Want to close FAST </li></ul></ul><ul><ul><li>Negotiators are accessible and ready to deal </li></ul></ul><ul><li>What to offer on a Short Sale </li></ul><ul><ul><li>Have your agent complete a market analysis </li></ul></ul><ul><ul><li>Offer approved short sale price for quick sale </li></ul></ul><ul><ul><li>Costs $60,000 to $70,000 to foreclose - liability </li></ul></ul>
  72. 72. A Complete Explanation of Foreclosures
  73. 73. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul>
  74. 74. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul>
  75. 75. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul>
  76. 76. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul>
  77. 77. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul>
  78. 78. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul><ul><ul><ul><li>Banks may be responsible for upkeep </li></ul></ul></ul>
  79. 79. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul><ul><ul><ul><li>Banks may be responsible for upkeep </li></ul></ul></ul><ul><ul><li>Damage to property is very common </li></ul></ul>
  80. 80. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul><ul><ul><ul><li>Banks may be responsible for upkeep </li></ul></ul></ul><ul><ul><li>Damage to property is very common </li></ul></ul><ul><ul><ul><li>Health and safety issues = No Financing </li></ul></ul></ul>
  81. 81. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul><ul><ul><ul><li>Banks may be responsible for upkeep </li></ul></ul></ul><ul><ul><li>Damage to property is very common </li></ul></ul><ul><ul><ul><li>Health and safety issues = No Financing </li></ul></ul></ul><ul><ul><ul><li>Most REO is sold in “as-is” condition </li></ul></ul></ul>
  82. 82. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul><ul><ul><ul><li>Banks may be responsible for upkeep </li></ul></ul></ul><ul><ul><li>Damage to property is very common </li></ul></ul><ul><ul><ul><li>Health and safety issues = No Financing </li></ul></ul></ul><ul><ul><ul><li>Most REO is sold in “as-is” condition </li></ul></ul></ul><ul><ul><ul><ul><li>No warranty or repairs </li></ul></ul></ul></ul>
  83. 83. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Foreclosure = REO (Real Estate Owned) </li></ul></ul><ul><ul><li>Burden of bank owned real estate is great </li></ul></ul><ul><ul><ul><li>Banks make money by lending money </li></ul></ul></ul><ul><ul><ul><li>Banks are responsible for property taxes </li></ul></ul></ul><ul><ul><ul><li>Banks may be responsible for upkeep </li></ul></ul></ul><ul><ul><li>Damage to property is very common </li></ul></ul><ul><ul><ul><li>Health and safety issues = No Financing </li></ul></ul></ul><ul><ul><ul><li>Most REO is sold in “as-is” condition </li></ul></ul></ul><ul><ul><ul><ul><li>No warranty or repairs </li></ul></ul></ul></ul><ul><ul><ul><li>Addendum to Purchase Contract </li></ul></ul></ul>
  84. 84. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul>
  85. 85. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul><ul><ul><li>Multiple offers – 25 to 30 offers in first week </li></ul></ul>
  86. 86. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul><ul><ul><li>Multiple offers – 25 to 30 offers in first week </li></ul></ul><ul><ul><li>Some banks requiring homes on market for 7 days before looking at offers </li></ul></ul>
  87. 87. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul><ul><ul><li>Multiple offers – 25 to 30 offers in first week </li></ul></ul><ul><ul><li>Some banks requiring homes on market for 7 days before looking at offers </li></ul></ul><ul><ul><li>Make your highest and best offer regardless of “listing price” </li></ul></ul>
  88. 88. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul><ul><ul><li>Multiple offers – 25 to 30 offers in first week </li></ul></ul><ul><ul><li>Some banks requiring homes on market for 7 days before looking at offers </li></ul></ul><ul><ul><li>Make your highest and best offer regardless of “listing price” </li></ul></ul><ul><ul><li>Banks ARE paying closing costs </li></ul></ul>
  89. 89. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul><ul><ul><li>Multiple offers – 25 to 30 offers in first week </li></ul></ul><ul><ul><li>Some banks requiring homes on market for 7 days before looking at offers </li></ul></ul><ul><ul><li>Make your highest and best offer regardless of “listing price” </li></ul></ul><ul><ul><li>Banks ARE paying closing costs </li></ul></ul><ul><ul><li>Banks MAY pay for some repairs </li></ul></ul>
  90. 90. A Complete Explanation of Foreclosures <ul><li>What you need to know if you want to buy a bank owned foreclosure </li></ul><ul><ul><li>Banks listing homes very low to stimulate activity </li></ul></ul><ul><ul><li>Multiple offers – 25 to 30 offers in first week </li></ul></ul><ul><ul><li>Some banks requiring homes on market for 7 days before looking at offers </li></ul></ul><ul><ul><li>Make your highest and best offer regardless of “listing price” </li></ul></ul><ul><ul><li>Banks ARE paying closing costs </li></ul></ul><ul><ul><li>Banks MAY pay for some repairs </li></ul></ul><ul><ul><li>Be aware of your “Net” offer </li></ul></ul>
  91. 91. Tips to Find the Best Deals and Make Strong Offers
  92. 92. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul>
  93. 93. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul><ul><ul><li>Work with a Real Estate Agent that is familiar with making offers on short sales and foreclosures </li></ul></ul>
  94. 94. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul><ul><ul><li>Work with a Real Estate Agent that is familiar with making offers on short sales and foreclosures </li></ul></ul><ul><ul><li>Get pre-approved for the maximum you can qualify for – Be prepared for competition </li></ul></ul>
  95. 95. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul><ul><ul><li>Work with a Real Estate Agent that is familiar with making offers on short sales and foreclosures </li></ul></ul><ul><ul><li>Get pre-approved for the maximum you can qualify for – Be prepared for competition </li></ul></ul><ul><ul><li>Actively search the MLS supplied to you by your Agent – not syndicated sites </li></ul></ul>
  96. 96. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul><ul><ul><li>Work with a Real Estate Agent that is familiar with making offers on short sales and foreclosures </li></ul></ul><ul><ul><li>Get pre-approved for the maximum you can qualify for – Be prepared for competition </li></ul></ul><ul><ul><li>Actively search the MLS supplied to you by your Agent – not syndicated sites </li></ul></ul><ul><ul><li>Move quickly on approved short sales and REOs </li></ul></ul>
  97. 97. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul><ul><ul><li>Work with a Real Estate Agent that is familiar with making offers on short sales and foreclosures </li></ul></ul><ul><ul><li>Get pre-approved for the maximum you can qualify for – Be prepared for competition </li></ul></ul><ul><ul><li>Actively search the MLS supplied to you by your Agent – not syndicated sites </li></ul></ul><ul><ul><li>Move quickly on approved short sales and REOs </li></ul></ul><ul><ul><li>Have your agent do a comparative market analysis on homes you make offers on </li></ul></ul>
  98. 98. Tips to Find the Best Deals and Make Strong Offers <ul><ul><li>Work with a buyer’s agent – Fiduciary duties require that your best interests are represented </li></ul></ul><ul><ul><li>Work with a Real Estate Agent that is familiar with making offers on short sales and foreclosures </li></ul></ul><ul><ul><li>Get pre-approved for the maximum you can qualify for – Be prepared for competition </li></ul></ul><ul><ul><li>Actively search the MLS supplied to you by your Agent – not syndicated sites </li></ul></ul><ul><ul><li>Move quickly on approved short sales and REOs </li></ul></ul><ul><ul><li>Have your agent do a comparative market analysis on homes you make offers on </li></ul></ul><ul><ul><li>Make your highest and best offer on REOs </li></ul></ul>
  99. 99. Wrap up and Take Aways
  100. 100. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul>
  101. 101. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul><ul><ul><li>Short Sales are typically not what they seem and can be a great opportunity if you find approved. </li></ul></ul>
  102. 102. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul><ul><ul><li>Short Sales are typically not what they seem and can be a great opportunity if you find approved. </li></ul></ul><ul><ul><li>Be cognizant of damage to distressed properties </li></ul></ul>
  103. 103. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul><ul><ul><li>Short Sales are typically not what they seem and can be a great opportunity if you find approved. </li></ul></ul><ul><ul><li>Be cognizant of damage to distressed properties </li></ul></ul><ul><ul><li>Make your highest and best offer on REOs </li></ul></ul>
  104. 104. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul><ul><ul><li>Short Sales are typically not what they seem and can be a great opportunity if you find approved. </li></ul></ul><ul><ul><li>Be cognizant of damage to distressed properties </li></ul></ul><ul><ul><li>Make your highest and best offer on REOs </li></ul></ul><ul><ul><li>Work with an experienced and qualified buyer’s agent – Someone on your side! </li></ul></ul>
  105. 105. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul><ul><ul><li>Short Sales are typically not what they seem and can be a great opportunity if you find approved. </li></ul></ul><ul><ul><li>Be cognizant of damage to distressed properties </li></ul></ul><ul><ul><li>Make your highest and best offer on REOs </li></ul></ul><ul><ul><li>Work with an experienced and qualified buyer’s agent – Someone on your side! </li></ul></ul><ul><ul><li>Get Pre- Approved for financing </li></ul></ul>
  106. 106. Wrap up and Take Aways <ul><ul><li>Home prices have dropped 20-50%+ and homes are twice as affordable as they were 2 or 3 years ago - Right place and the right time to buy </li></ul></ul><ul><ul><li>Short Sales are typically not what they seem and can be a great opportunity if you find approved. </li></ul></ul><ul><ul><li>Be cognizant of damage to distressed properties </li></ul></ul><ul><ul><li>Make your highest and best offer on REOs </li></ul></ul><ul><ul><li>Work with an experienced and qualified buyer’s agent – Someone on your side! </li></ul></ul><ul><ul><li>Get Pre- Approved for financing </li></ul></ul><ul><ul><li>Know the maximum you can qualify for – Be prepared for competition </li></ul></ul>
  107. 107. Wrap up and Take Aways <ul><ul><li>We are the Lender for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo Loans. </li></ul></ul>
  108. 108. Wrap up and Take Aways <ul><ul><li>We are the Lender for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo Loans. </li></ul></ul><ul><ul><li>We can Refer you to a qualified Real Estate Agent in your area </li></ul></ul>
  109. 109. Wrap up and Take Aways <ul><ul><li>We are the Lender for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo Loans. </li></ul></ul><ul><ul><li>We can Refer you to a qualified Real Estate Agent in your area </li></ul></ul><ul><ul><li>We are more than happy to be your “second opinion” if you are already working with someone </li></ul></ul>
  110. 110. Wrap up and Take Aways <ul><ul><li>We are the Lender for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo Loans. </li></ul></ul><ul><ul><li>We can Refer you to a qualified Real Estate Agent in your area </li></ul></ul><ul><ul><li>We are more than happy to be your “second opinion” if you are already working with someone </li></ul></ul><ul><ul><li>We are committed to educating and empowering homeowners </li></ul></ul>
  111. 111. Wrap up and Take Aways <ul><ul><li>We are the Lender for all CalSTRS, CalPERS, CalHFA, FHA & VA, Conventional and Jumbo Loans. </li></ul></ul><ul><ul><li>We can Refer you to a qualified Real Estate Agent in your area </li></ul></ul><ul><ul><li>We are more than happy to be your “second opinion” if you are already working with someone </li></ul></ul><ul><ul><li>We are committed to educating and empowering homeowners </li></ul></ul><ul><ul><li>Please sign up for our Newsletter </li></ul></ul>
  112. 112. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul>
  113. 113. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul><ul><ul><li>Valuable links to get you started and in this market, fully prepared with a good team </li></ul></ul>
  114. 114. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul><ul><ul><li>Valuable links to get you started and in this market, fully prepared with a good team </li></ul></ul><ul><ul><ul><li>Secure online application for loan approval </li></ul></ul></ul>
  115. 115. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul><ul><ul><li>Valuable links to get you started and in this market, fully prepared with a good team </li></ul></ul><ul><ul><ul><li>Secure online application for loan approval </li></ul></ul></ul><ul><ul><ul><li>Qualified Real Estate Agent referral request </li></ul></ul></ul>
  116. 116. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul><ul><ul><li>Valuable links to get you started and in this market, fully prepared with a good team </li></ul></ul><ul><ul><ul><li>Secure online application for loan approval </li></ul></ul></ul><ul><ul><ul><li>Qualified Real Estate Agent referral request </li></ul></ul></ul><ul><ul><ul><li>Dream home finder </li></ul></ul></ul>
  117. 117. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul><ul><ul><li>Valuable links to get you started and in this market, fully prepared with a good team </li></ul></ul><ul><ul><ul><li>Secure online application for loan approval </li></ul></ul></ul><ul><ul><ul><li>Qualified Real Estate Agent referral request </li></ul></ul></ul><ul><ul><ul><li>Dream home finder </li></ul></ul></ul><ul><ul><li>Links to Education and Web Classes Pages </li></ul></ul>
  118. 118. Wrap up and Take Aways <ul><ul><li>You will receive a “Thank You” email that will include all of our contact information for questions </li></ul></ul><ul><ul><li>Valuable links to get you started and in this market, fully prepared with a good team </li></ul></ul><ul><ul><ul><li>Secure online application for loan approval </li></ul></ul></ul><ul><ul><ul><li>Qualified Real Estate Agent referral request </li></ul></ul></ul><ul><ul><ul><li>Dream home finder </li></ul></ul></ul><ul><ul><li>Links to Education and Web Classes Pages </li></ul></ul><ul><ul><li>Check back often for updates to Education page and YouTube videos </li></ul></ul>
  119. 119. Schedule a Live Home Buyer Workshop <ul><li>Low Down and No Down Payment Purchase Programs </li></ul><ul><li>What you need to know about short sales and foreclosures </li></ul><ul><li>What you need to know about finding and retaining an Agent </li></ul><ul><li>Tips and hints for making offers and getting them accepted </li></ul><ul><li>Ask the Experts Q & A </li></ul><ul><ul><li>Local Real Estate Agents and Lender familiar with teacher programs </li></ul></ul><ul><ul><li>For more info: [email_address] </li></ul></ul>
  120. 120. Thank you for Attending Please make suggestions and recommendations for future on-line class topics Presented By: PorchLight Real Estate Services Presenter: Scott Schang, Broker / President Contact Information: Phone: 866-667-6724 [email_address]

×