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Quality Service You Can Trust. Nobody in the world sells more real estate than Re/Max Serving: ORANGE COUNTY AND RIVERSIDE COUNTY, CALIFORNIA OVER 12 YEARS EXPERIENCE HANDLING ALL ASPECTS OF REO PROPERTY MANAGEMENT AND SALES INCLUDING: �� Occupancy veri���cation in less than 12 hours �� Cash for keys negotiations �� Property preservation, maintenance, and repairs �� 24 Hr. BPO Turn around �� Full marketing campaigns �� Sales negotiations and closing �� Over $300,000 available funds to cover repair and utility costs �� Have enhanced education and ability to also handle ���uid short sale transactions �� Over 500 successful REO Transactions closed �� Over 70 successful short sale transactions closed since 2010 DAVE LARSEN Re/Max Partners 951.735.4140 direct 951.278.8755 of���ce 951.346.3188 fax LarsenGroup@aol.com 78 $275,000 last year, up 10.0 percent from 2011. Cash buyers paid a median $205,000 last year, up 17.1 percent year-over-year. Buyers who financed with a mortgage paid a median $305,000, up 10.5 percent. Meanwhile, 2012 also saw more all-cash deals occurring above the $500,000 threshold, while fewer occurred below $100,000. Cash-only purchases of half a million dollars or more rose 35.0 percent year-over-year compared with an 11.2 percent decline in cash purchases below $100,000. ���It���s likely that in the sub-$100,000 market, cash-paying investors simply couldn���t find enough homes for sale in that price range,��� DataQuick said. ���Inventory in affordable neighborhoods has generally been low because foreclosures have slowed, meaning less supply, and many people in these areas still owe more than their homes are worth, hence they can���t sell.��� Investors and vacation-home buyers bought roughly 55 percent of all homes purchased with cash last year. Multi-home buyers (those purchasing two or more properties) accounted for about 28 percent of last year���s cash sales, up from around 24 percent in 2011. Among the ZIP codes with at least 100 sales last year, the two with the highest cash purchase rate were in Orange County���s Laguna Woods 92637, with 74.0 percent of the homes going to cash buyers, and Riverside County���s Indian Wells 92210, with 71.6 percent. KNOW THIS Foreclosure default notices declined dramatically in California because of substantial government intervention. Default notices dropped to 10,000 in the state by the end of December 2012 from the state high in April 2009 of nearly 60,000, according to ForeclosureRadar.com. Carrington Offers 25Day Loan Closings, Three-Day Turn Times for FHA, Conventional Loans Carrington Mortgage Services is offering 25-day loan closings to borrowers seeking to purchase or refinance properties. According to Ellie Mae���s latest Origination Insight Report, the average time to close a purchase loan was 46 days in 2012, while the average time to close a refinance loan was 49 days. Carrington���s new program���available through its retail operations���reduces closing times by nearly 50 percent compared with the reported averages and provides borrowers ���a shorter, more predictable timeline during what can often be a stressful waiting period,��� the company said in a release. In addition, Carrington committed to applying a closing cost credit of $500 for any qualifying loan that takes more than 25 calendar days from the time a file is submitted to underwriting to the time the loan is funded. Certain products, including brokered loans, jumbo loans, and FHA 203K loans, are excluded. As a promotional offer last month, Carrington���s wholesale lending division announced two new programs designed to assist brokers and borrowers quickly and easily in closing in the tight housing market. Carrington offered three-day turn times on conventional purchase loans and loans insured by the Federal Housing Administration (FHA). The company also streamlined its 203K loan program, which is available through its retail and wholesale businesses. The program allows borrowers to take out up to $35,000 for property repairs and can be a solution for those seeking to buy distressed properties that require extra work. As part of its ���Three-Day Turn Time Promise��� program, which only ran through the month of February, the company provided a decision on any eligible FHA or conventional purchase loan within three days of the time it was submitted to underwriting. If the three-day promise wasn���t met, Carrington waived its underwriting fee of $995. In addition, Carrington announced that it stands ready to close FHA streamline refinance loans with no additional interest cost to the borrower regardless of when the loan is funded.

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