Big Bear Real Estate by Erin Lanza, Big Bear Lake, Ca

Tim Lanza, Owner/Broker Of Keller Williams Big Bear Real Estate Is Your Expert In Buying and Selling Short Sales and Bank Owned Real Estate

Short Sales. Foreclosures. Distressed Properties. REO properties. Great Real Estate Deals for Investors. We’ve all heard these things. What do they mean? More importantly what do the mean for you?

In Big Bear, you don’t need to be a “sophisticated real estate investor” to take advantage of the current market conditions and great real estate buys. As an expert in Big Bear real estate and buying and selling distressed properties, I can help you make the most of this market. I understand the true value of real estate in Big Bear.

I can find you the best properties that are the best fit – if it’s a foreclosure, short sale, or traditional transaction. Curious? Read below for your introduction to investing in distressed real estate in Big Bear.

SHORT SALE AND FORECLOSURES

In Big Bear, I am your best source of knowledge and expertise in short sales and foreclosures. As a real estate attorney I have a great deal of experience with distressed property. In addition to negotiating with lenders for buyers purchasing short sales and foreclosed real estate, I have conducted foreclosures, researched properties and attended foreclosure sales personally as an investor, and represented banks in both short sales and foreclosures. Knowing all aspects of the process allows me to help you navigate the sometimes daunting task of investing in the great opportunities of distressed real estate.

SHORT SALES IN BIG BEAR
When a cabin in Big Bear is sold as a short sale, the cabin is sold at a price less than the amount owed to the lender. Short Sales occur when the cabin owner cannot pay the mortgage loan on their property, and the lender decides that selling the property at a loss is better than foreclosing on it. Incomplete investment advice when buying and so many adjustable rate mortgages resetting, has made short sales unfortunately common.

The Short Sale process is straight forward, but often misunderstood. Short sales are a two step process. As in a normal transaction the owner of the Big Bear real estate (cabin, commercial property, raw land, etc.) must first accept the offer from a buyer. Then, in a completely separate step, the lender must accept the offer terms, especially the short fall amount. Accordingly, the offer terms must be attractive enough to the lender to approve, even when the seller has accepted.

Big Bear Short Sale Buyers
Because short sales in Big Bear are such a good deal, often there are multiple offers. I am an expert in constructing offers that get the best deal for my clients, while being attractive enough to get lender approval. Big Bear’s unique real estate market requires a through knowledge of cabin values including revenue potential. By understanding the true value of real estate in Big Bear, I can narrow down your choices to the best properties, and then create the offer that gets accepted.

Establishing Short Sale Buyer Expectations
I make the Big Bear short sale process as quick and easy as possible, and you will know what to expect. I provide a complete consultation process and thoroughly inform you about how short sales in Big Bear go forward, and what to look forward to. This allows my Big Bear real estate clients to know if a short sale in Big Bear is the right way for them to invest – because there are many ways to successfully invest in Big Bear real estate.

Big Bear Short Sale Sellers
My experience with Big Bear short sales equally applies to buyers and sellers. I have negotiated with both banks and buyers, to maximize the sales price and increase likelihood of bank approval of short sales in Big Bear. As an expert in valuations of Big Bear real estate, I put together a pre-sale package that goes to the bank to start the process even before there is an offer. In addition, my real estate law background means I have a through understanding of the laws effecting short sale sellers, including the intricate laws of deficiencies after sales. My knowledge and experience in this area means I can consult and guide you in determining if a short sale is the best thing for you – I interact with my clients to develop a long-term-consultative relationship, not just a one time transactional deal.

Establishing Short Sale Seller Expectations
I make the Big Bear short sale process as quick and easy as possible. I consult with short sale sellers so you know what to expect. I provide a complete consultation process to thoroughly inform you about how short process in Big Bear go forward, and what to look forward to. This allows my Big Bear real estate clients to know if a short sale in Big Bear is the right way for them to sell their Big Bear real estate, and educates you on the whole process.

For complete information about selling or investing in a short sale in Big Bear, e-mail me at ShortSales@BigBearRealEstate.com.

FORECLOSURES IN BIG BEAR
Like short sales, foreclosed real estate is part of the real estate “market of the moment’ in Big Bear. In addition to my role as a real estate broker, I am also an experienced real estate attorney. Because I have represented banks selling foreclosed real estate, conducted the real estate foreclosure process, attended foreclosure sales personally as an investor, and represented buyers of foreclosed real estate, I am in a unique position to know the entire foreclosure process from start to finish. My knowledge will help you get the right Big Bear property at the right price.

What is a Foreclosure?
Many people buy real estate by taking out a loan. These loans use the real estate as collateral for the loan. If the borrower stops making the mortgage payments on their real estate, the lender will “foreclose” on the real estate collateral. Under California law, a foreclosure of real estate requires certain notice time periods and other requirements that must be met. After the requirements are met the lender holds a foreclosure sale.

At the foreclosure sale, sometimes there are no bidders, or the bids are not high enough for what the lender wants for the real estate. The lender can make its own bid, called a credit bid, and if that bid is the highest, the lender will in effect repossess it is the real estate. When this happens, the property becomes Real Estate Owned or REO.

After a lender repossess real estate, its is accounted for on their balance sheet as REO. Under accounting rules, the REO real estate is now a nonperforming asset. For individual and “hard money” lenders this is a problem because they loaned the money to be paid the interest. They did not want REO real estate. For institutional banks (e.g. depository banks such as Wells Fargo or Bank of America) REO real estate is an even bigger problem.

Banks are subject to capital reserve requirements. Simplified, this means that banks must have minimum liquid reserves (cash or cash equivalents) based on a certain percentage of “risk assets” (such as outstanding loans and REO property). Different types of assets require different percentages of reserves. Riskier assets require higher reserve levels. REO properties, as non-performing assets, are one of the highest risk assets and require a higher percentage of reserves. So, for every REO property a bank has, its liquid capital reserve requirements increase – the bank must keep more cash on hand to compensate for the risk of holding foreclosed real estate on its books. Banks are in the business of lending money – not owning real estate. The more REO properties, the less money to loan. Accordingly, banks want REO real estate off its books – creating opportunity for buyers of real estate in Big Bear and everywhere else.

Sometimes REO properties in Big Bear are in poor condition and need repairs and maintenance. Sometimes REO properties are in great condition, or the bank makes repairs so the REO easier to sell. In poor condition, the low sale price can more than compensate for the condition of the property. In good shape, the sale price will be higher, but the buyer can still be getting a great deal on the real estate. The trick is knowing what price to pay for which property.

So, like short sales, foreclosures in Big Bear are an excellent deal, and often there are multiple offers on a single parcel of Big Bear real estate. I help my Big Bear real estate clients take the guess work out of finding the right property at the right price. I put together offers that get the best deal for you. Just like short sales in Big Bear, our unique real estate market requires a through knowledge of cabin values including revenue potential.

By understanding the true value of real estate in Big Bear, I can find you the best properties that are the best fit – if it’s a foreclosure, short sale, or traditional transaction. From there I know how we can write the offer that goes into escrow.

For complete information about purchasing a foreclosed property in Big Bear, e-mail me at Foreclosures@BigBearRealEstate.com.

	Big Bear Real Estate Erin Lanza 866-948-9378
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Big Bear Real Estate Understanding Short Sales and Foreclosures in Big Bear Tim Lanza, Owner/Broker Of Keller Williams Big Bear Real Estate Is Your Expert In Buying and Selling Short Sales and Bank Owned Real Estate Short Sales. Foreclosures. Distressed Properties. REO properties. Great Real Estate Deals for Investors. We’ve all heard these things. What do they mean? More importantly what do the mean for you? In Big Bear, you don’t need to be a “sophisticated real estate investor” to take advantage of the current market conditions and great real estate buys. As an expert in Big Bear real estate and buying and selling distressed properties, I can help you make the most of this market. I understand the true value of real estate in Big Bear. I can find you the best properties that are the best fit – if it’s a foreclosure, short sale, or traditional transaction. Curious? Read below for your introduction to investing in distressed real estate in Big Bear. SHORT SALE AND FORECLOSURES In Big Bear, I am your best source of knowledge and expertise in short sales and foreclosures. As a real estate attorney I have a great deal of experience with distressed property. In addition to negotiating with lenders for buyers purchasing short sales and foreclosed real estate, I have conducted foreclosures, researched properties and attended foreclosure sales personally as an investor, and represented banks in both short sales and foreclosures. Knowing all aspects of the process allows me to help you navigate the sometimes daunting task of investing in the great opportunities of distressed real estate. SHORT SALES IN BIG BEAR When a cabin in Big Bear is sold as a short sale, the cabin is sold at a price less than the amount owed to the lender. Short Sales occur when the cabin owner cannot pay the mortgage loan on their property, and the lender decides that selling the property at a loss is better than foreclosing on it. Incomplete investment advice when buying and so many adjustable rate mortgages resetting, has made short sales unfortunately common. The Short Sale process is straight forward, but often misunderstood. Short sales are a two step process. As in a normal transaction the owner of the Big Bear real estate (cabin, commercial property, raw land, etc.) must first accept the offer from a buyer. Then, in a completely separate step, the lender must accept the offer terms, especially the short fall amount. Accordingly, the offer terms must be attractive enough to the lender to approve, even when the seller has accepted. Big Bear Short Sale Buyers Because short sales in Big Bear are such a good deal, often there are multiple offers. I am an expert in constructing offers that get the best deal for my clients, while being attractive enough to get lender approval. Big Bear’s unique real estate market requires a through knowledge of cabin values including revenue potential. By understanding the true value of real estate in Big Bear, I can narrow down your choices to the best properties, and then create the offer that gets accepted. Establishing Short Sale Buyer Expectations I make the Big Bear short sale process as quick and easy as possible, and you will know what to expect. I provide a complete consultation process and thoroughly inform you about how short sales in Big Bear go forward, and what to look forward to. This allows my Big Bear real estate clients to know if a short sale in Big Bear is the right way for them to invest – because there are many ways to successfully invest in Big Bear real estate. Big Bear Short Sale Sellers My experience with Big Bear short sales equally applies to buyers and sellers. I have negotiated with both banks and buyers, to maximize the sales price and increase likelihood of bank approval of short sales in Big Bear. As an expert in valuations of Big Bear real estate, I put together a pre-sale package that goes to the bank to start the process even before there is an offer. In addition, my real estate law background means I have a through understanding of the laws effecting short sale sellers, including the intricate laws of deficiencies after sales. My knowledge and experience in this area means I can consult and guide you in determining if a short sale is the best thing for you – I interact with my clients to develop a long-term-consultative relationship, not just a one time transactional deal. Establishing Short Sale Seller Expectations I make the Big Bear short sale process as quick and easy as possible. I consult with short sale sellers so you know what to expect. I provide a complete consultation process to thoroughly inform you about how short process in Big Bear go forward, and what to look forward to. This allows my Big Bear real estate clients to know if a short sale in Big Bear is the right way for them to sell their Big Bear real estate, and educates you on the whole process. For complete information about selling or investing in a short sale in Big Bear, e-mail me at ShortSales@BigBearRealEstate.com. FORECLOSURES IN BIG BEAR Like short sales, foreclosed real estate is part of the real estate “market of the moment’ in Big Bear. In addition to my role as a real estate broker, I am also an experienced real estate attorney. Because I have represented banks selling foreclosed real estate, conducted the real estate foreclosure process, attended foreclosure sales personally as an investor, and represented buyers of foreclosed real estate, I am in a unique position to know the entire foreclosure process from start to finish. My knowledge will help you get the right Big Bear property at the right price. What is a Foreclosure? Many people buy real estate by taking out a loan. These loans use the real estate as collateral for the loan. If the borrower stops making the mortgage payments on their real estate, the lender will “foreclose” on the real estate collateral. Under California law, a foreclosure of real estate requires certain notice time periods and other requirements that must be met. After the requirements are met the lender holds a foreclosure sale. At the foreclosure sale, sometimes there are no bidders, or the bids are not high enough for what the lender wants for the real estate. The lender can make its own bid, called a credit bid, and if that bid is the highest, the lender will in effect repossess it is the real estate. When this happens, the property becomes Real Estate Owned or REO. After a lender repossess real estate, its is accounted for on their balance sheet as REO. Under accounting rules, the REO real estate is now a nonperforming asset. For individual and “hard money” lenders this is a problem because they loaned the money to be paid the interest. They did not want REO real estate. For institutional banks (e.g. depository banks such as Wells Fargo or Bank of America) REO real estate is an even bigger problem. Banks are subject to capital reserve requirements. Simplified, this means that banks must have minimum liquid reserves (cash or cash equivalents) based on a certain percentage of “risk assets” (such as outstanding loans and REO property). Different types of assets require different percentages of reserves. Riskier assets require higher reserve levels. REO properties, as non-performing assets, are one of the highest risk assets and require a higher percentage of reserves. So, for every REO property a bank has, its liquid capital reserve requirements increase – the bank must keep more cash on hand to compensate for the risk of holding foreclosed real estate on its books. Banks are in the business of lending money – not owning real estate. The more REO properties, the less money to loan. Accordingly, banks want REO real estate off its books – creating opportunity for buyers of real estate in Big Bear and everywhere else. Sometimes REO properties in Big Bear are in poor condition and need repairs and maintenance. Sometimes REO properties are in great condition, or the bank makes repairs so the REO easier to sell. In poor condition, the low sale price can more than compensate for the condition of the property. In good shape, the sale price will be higher, but the buyer can still be getting a great deal on the real estate. The trick is knowing what price to pay for which property. So, like short sales, foreclosures in Big Bear are an excellent deal, and often there are multiple offers on a single parcel of Big Bear real estate. I help my Big Bear real estate clients take the guess work out of finding the right property at the right price. I put together offers that get the best deal for you. Just like short sales in Big Bear, our unique real estate market requires a through knowledge of cabin values including revenue potential. By understanding the true value of real estate in Big Bear, I can find you the best properties that are the best fit – if it’s a foreclosure, short sale, or traditional transaction. From there I know how we can write the offer that goes into escrow. For complete information about purchasing a foreclosed property in Big Bear, e-mail me at Foreclosures@BigBearRealEstate.com.
Erin Lanza - Big Bear Real Estate - 41693 Big Bear Blvd. - Big Bear Lake, CA 92315 direct: 866-948-9378 - email erin@bigbearrealestate.com

Big Bear Real Estate Understanding Short Sales and Foreclosures in Big Bear

Big Bear Real Estate
Understanding Short Sales and Foreclosures in Big Bear