New Hope for those who suffered Short Sale or Foreclosure!

Happy New Year!

I just wanted to pass along my thanks to all of you for your support in 2013. It looks like I will close out the year in the Top 3% of all Realtors in Ventura County. When you combine that with the work I have also done in LA County, I am thrilled with the results. Next year my goal is to end up in the Top 1%.

The National Association of Realtors published a report recently Buyer and Sellers and there were some interesting statistics:

• 42% of buyers found their agent through a referral from a friend or family member.
• 39% of sellers used an agent referred by a friend or family member.
• 25% of sellers used the agent that represented them on the purchase.
• 67% only contacted 1 agent to sell their house.

So, as you can see, you are vitally important to me and I am grateful for those of you who referred me a client last year or used my services again. I can’t do all I do without your support. Thank you!

Potential new crop of buyers? Know anyone with a Short Sale or Foreclosure that is back on their feet for a year or so?

Even though lending guidelines are still very tight these days, we are beginning to see signs that things might be changing. FHA has come out with a new loan program for buyers who have had a Foreclosure, Short Sale or Bankruptcy. The new program is called the "FHA Back to Work Program”. You can find details at the following link, but here are some of the highlights.

http://backtoworkprogram.org/#more_info

• You have to qualify for the basic FHA Guidelines in terms of income and liabilities.
• You have to re-establish credit after the problem occurred. This has to include a 12 month record of new, on-time rental housing payments with no delinquencies and no more than 1 30 day late on any other credit.
• You have to document that your problem occurred because of a financial hardship where your income dropped by 20% or more for at least 6 months.
• You have to complete HUD-approved housing counseling. (The link above is for a qualified counselor, but there are many others).

If you know anyone who might fit this description, please pass on this information and I can get them connected with someone that can give them more detail.

I hope all of you have a Happy and Safe New Year and a blessed 2014!