Many buyers with FHA government backed loans do not know that the FHA requires two appraisals on a flipped property to ensure buyers are not getting ripped off. The buyer must absorb this cost and this can mean around $400 extra if you are wanting to purchase a flipped property.

If you are an investor, you should be aware 1) that the FHA requires a home inspection within the 90-day period and 2) that due to the 90-day period, you are going to eliminate a lot of potential FHA buyers.

- Original Youtube vid – Buying or Selling a Sacramento Flipped Property 01/05/2011
Home Buyers
- Home Sellers

1D outlines the close of escrow you are agreeing to. Thirty days is the average turnaround of escrow, however many lenders can get your loan funded much sooner, particularly if there are no credit or serious issues. This is good to understand as price is not the only competitive force in real estate.

Shorter escrow can mean the difference between you being successful in a bid vs. another buyer. Even ten days shorter escrow can make a huge difference, especially on foreclosed properties where banks are gunning for a quick turnaround.

Buyers should consult with their agent and lender on the best escrow timeframe to indicate on the Residential Purchase agreement. It is crucial to be as realistic as possible because if you do not close when you say you are going to in term 1D, you could stand to lose your deposit.

- Original Youtube vid – Why Time of Escrow Counts When Buying a Sacto Home 01/03/2011
- Home Buyers

1)  HAVE A GOOD AGENT – You need someone who will be effective and get the job done.  One of the best ways to tell if an agent is for you is to consider – Is the agent interviewing you?

There are a variety of factors an agent should be considering when taking on a short sale. If they are not asking you a lot of questions during your initial meeting, perhaps they do not know a lot about short sales.

2)  FLEXIBILITY – The top priority is selling your home and agents will need to showcase your home as much as possible to do this. You may still be living in the home you are selling, but you need to be aware of how important flexibility is. This includes evening and weekend showings, the reality of when most potential buyers will be seeking to view properties.

3)  BE PREPARED – Your agent should provide you a list of items that need to be ready to go once an offer is made on the home. Certain paperwork, receipts, and the like need to be readily available once an offer is made for a smooth step to the next short sale phase.

4)  TRUST YOUR AGENT – If you have hired a good agent in the first place, this step should be easy. If the agent makes suggestions on price or accepting an offer, you need to trust their experience, otherwise the process will be slowed right down. There are steps your agent has to take with the bank following an offer and timeliness is best practice.

- Original Youtube vid – Sacramento Short Sale Sellers 12/21/2011
- Home Sellers

FHA Loans, which are very popular at the moment due to the small amount of money one needs to put down, Down Payment Assistance Loans, 203K Renovation Loans, and the like are not accepted in all housing transactions.

Before you organize with your agent to see homes, ensure you are preapproved for what loan you have applied for and then seek to consider properties that fit your loan. Your qualified agent can assist you with this or visit ____

- Original Youtube vid – Sacramento Home Buyer Tip #417 12/14/2011
- Home Buyers

I advised a client 7 months ago to consider short selling. That client contacted me this week ready to short sale explaining she had just received notice that a foreclosure was in process on her home. The problem is once an auction date has been set, a short sale success rate is very minimal. There is just not much a realtor can do for you.

The bottom line is if you are in a situation where your house is underwater, it is better to do a short sale early on in the game. This avoids dealing with the humiliation of a foreclosure, damaging credit score repercussions, and contributing to the general decline of our housing market.

- Original Youtube vid – Sacramento Short Sale Waiters 12/13/2011
- Home Sellers