Palos Verdes Homes and the Palos Verdes Nature Preserve

Living in Palos Verdes

Hiking Trails and Wildlife Preserve

There are so many great reasons to own Palos Verdes real estate and why we who live here are fortunate … the schools are great, the climate terrific, the whale watching and dolphin surfing just a blast to see, but there is also the wide open and protected spaces through which one can hike and just take a few moments to take a breath. 

The Palos Verdes Nature Preserve is just a perfect example of this; from the Upper Filiorum, to the Three Sisters Reserve and everything around and in between, in all the hiking I’ve done around Southern California, there isn’t anywhere more beautiful. 

I hope you will join me in enjoying this special treat!  Go here http://www.palosverdesnaturepreserve.com

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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Foreclosure Auctions

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Foreclosure auctions in Palos Verdes, South Torrance and the Beach Cities

What are the opportunities for Investors, Home Buyers and Homeowners Upside Down in their Mortgages

 

What are the Advantages of a Short Sale to the Upside Down Homeowner? image

  • Less Damaging to Credit_Rating: A Foreclosure will severely damage ones credit_rating for 7 years, but a Short Sale may be  less damaging and its effect does not last as long.
  • Major Banks are Encouraging Short Sales over Foreclosure: Fannie Mae (FNMA) recently changed their underwriting policy so that a past home owner now has to wait 5 years after a Foreclosure before FNMA will underwrite a new loan. If the homeowner conducted a Short Sale the wait time is just 2 Years! Freddie Mac also offers participating Banks a $2,200 incentive to conduct a Short Sale versus Foreclosure.
  • Probable Relief from HELOC 2nd Mortgage: When the 1st Mortgage Bank forecloses, the 2nd TD HELOC loan is not deleted from your debt. The 2nd TD HELOC Mortgage Bank may take legal means to collect their debt after the Foreclosure. With a Short Sale, we negotiate with both lenders to highly reduce or totally eliminate the HELOC loan debt.
  • Dignified Solution: With a Short Sale, we sell your home just like your neighbors have done. It’s a dignified resolution to a tough situation. On the other hand, after a Foreclosure, a Sheriff performs a lock out, the grass turns brown, and a Bank Sales Rep places ‘Bank Foreclosure For Sale’ signs in front of the property for your neighbors to see.
  • “Cash for Cooperation”: Some of the banks we work with are now offering home owners a Cash incentive in order to Cooperate with a short sale, versus allowing the property to be Foreclosed on by the Bank. Which Banks and amount of Cash offered, is on a case by case basis.
  • If the homeowner is facing an auction scheduled, a short sale may be able to (in our experience it always has) stop the auction from taking place thus allowing the homeowner many more weeks or months in the home to regroup and strategize.  We are uniquely positioned to assist these homeowners immediately and our service does not cost them a penny.

HOWEVER the window for conducting a short sale without tax penalty is quickly drawing near!  The benefits created from the 2007 Mortgage Forgiveness Debt Relief Act of 2007 EXPIRE on 12/31/2012.  Homeowners upside down in their mortgages must NOT wait as if one waits too long into the 2012 year, the short sale may not close in time to satisfy the deadline!

 

What are the Advantages of a Short Sale to the Investor or Home Buyer?

When I’m asked by my Buying Clients and Investors how best to take advantage of the “Foreclosure Market”, the preconception is that the Bank Owned homes are the properties wherein the greatest discounts can be achieved.  This is not the case.  There is so much scrutiny and oversight from government agencies and the banks’ investors that the banks selling an REO Property are just as motivated as any other “Mr. and Mrs. Homeowner” to extract the highest price possible. 

In fact, when I’m calling bank REO Asset managers, I’m getting the standard response (from all the banks), “…sorry, we can’t consider any offers until the property’s been on the MLS for at least 5 days…”  The banks KNOW that the best chance to get the highest price is to have maximum exposure through the multiple listing service.

So that leaves the Home Buyer or Investor two choices … either go to the auction and try to buy (you will need cash, you won’t be able to inspect the property and you may not get clear title) OR use the strategy that I’ve developed to negotiate with the Homeowner. 

What we’re doing is creating WIN – WIN situations for all parties and if you would like to know more, DO NOT REPLY to this email, rather send me an email to george.fotion@homeispalosverdes.com.  So whether you are a homeowner upside down in your mortgage, or you’re an investor or buyer or know someone in either category that could really benefit from this, send me an email and we will set an appointment to discuss further.

By the way, the map above shows just the Single Family Residences.  There are a few, just a handful, but a few Multi-Family units (apartments, duplexes, triplexes and quads)

As always, thank you for reading your newsletter!

 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Rancho Palos Verdes CA Bank Owned Homes

Rancho Palos Verdes CA Bank Owned Home

as of 1/25/2012

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4 Bedrooms
2 Bathrooms
1,672 Sqft Living Area (Source: Tax Assessor)
6,930 Sqft Lot Area (Source: Tax Assessor)
MLS Area: Los Verdes
Bank took back on 1/25/2012 $763,000

This property is NOT listed for sale

For more details and availability, respond to this ad

Search for other Palos Verdes homes for sale and gets lots of information on Palos Verdes real estate without having to log in or provide your information.

To search for foreclosures in Palos Verdes go to this link 

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How to search for Palos Verdes Foreclosures and Auctions

How do you find Palos Verdes foreclosures not listed for sale?

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Go to this link to use the site described below

And to update your searches for Palos Verdes foreclosures go here.

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For more information on homes for sale in Palos Verdes, Palos Verdes real estate, palos verdes homes for sale, palos verdes foreclosures, palos verdes real estate market information as well as quality information on homes for sale in Rancho Palos Verdes, Palos Verdes Estates homes for sale, Manhattan Beach real estate, Hermosa Beach real estate, Redondo Beach real estate, Torrance real estate, Palos Verdes real estate trends, and real estate trends throughout the Beach Cities, Palos Verdes Estates and the South Bay, visit www.homeispalosverdes.com 

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Palos Verdes Estates homes with over 1/2 acre of flat useable land

 
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George Fotion
Call Realty Company
310-346-6467
gfotion@emailtreo.com
 
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Information valid for the date of this posting only. Please contact us for the most current information and status of this property.
2809 Paseo Del Mar
Palos Verdes Estates, CA
QR Code Scan with your smartphone & take me with you.
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Lower Lunada Bay Pool & Sport Court Home

$ Click for current price
5 BEDROOMS
4 BATHROOMS (4 full)
4800 Square Feet

Crème de la crème of Palos Verdes Estates, “Lower Lunada Bay” offers the best of all worlds – outstanding location kissed by Pacific Ocean breezes, wonderful, friendly and warm nurturing neighborhoods, close proximity to all schools, panoramic ocean front views just steps away. 2809 Paseo del Mar then takes these elements and elevates them into higher orbit.

This gorgeous, remodeled and spacious home nestled by over 1/2 acre (exceedingly rare lot size with full land utility) and nearly 4,800sqft of living area will envelope your family in easy understated elegance for a life time. The sqft is distributed between 4652sqft of living area + another approx 250sqft workout room.

This home is the ultimate entertainers dream with flowing floor plan and indoor/outdoor feel with easy access to the lit sport court, pool and flat yard expanses. Take a look at the pictures then call me for your private appointment to view this home today. As a bonus, there is even a Panoramic Ocean View from planned mezzanine for this home (plans may be included in sale of property)! Property address also known as 2800 Via Segovia. Sport court may be expanded to residential tennis court size. Owner may consider carrying financing.

To get more information on Palos Verdes Estates real estate and other Palos Verdes Estates homes for sale, visit my website where you can learn how to become a better informed on how to buy or sell and own Palos Verdes homes

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Sell Palos Verdes Estates real estate for more money

Selling a home in Palos Verdes

It’s all about E X P O S U R E !

Of the many venues available to expose and market real estate in Palos Verdes, Realtor.com is one of the best.  It’s no wonder that my investment in marketing my sellers homes pays off with faster sales and higher prices for my sellers all due to creating more buyers competing for the property.

From website images

Of the nearly 6,000 agents in the South Bay area of Southern California, there are only EIGHT maximum agents that can expose your Palos Verdes home for sale on Realtor.com as a FEATURED LISTING.  This added exposure is essential to getting the highest price in the shortest period of time and with the least amount of inconvenience for my sellers. 

When you’re ready to sell your Palos Verdes real estate, how can you possibly afford not having this benefit.

 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Portuguese Bend Homes for Sale in Rancho Palos Verdes CA

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George Fotion
Call Realty Company
310-346-6467
gfotion@emailtreo.com
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Palos Verdes Estates Pending Home Sale Trends

Palos Verdes Estates Home Pending Sales Shows Uptrend

The National Association of Realtors published today their latest study on home sales and there has been a significant improvement.

“Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above where they were a year ago, according to the National Association of REALTORS®.  The latest monthly data shows total existing-home sales rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010. The estimates are based on completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops.”  You can read the entire article by going here.

But while national trends are interesting … what’s happening on the local level.  For example, let’s take a look at Palos Verdes Estates real estate.  Are pending sales (these are the Palos Verdes Estates homes that are entering escrow) increasing or decreasing?  What’s the general trend?  Obviously no matter what asset class we study, nothing goes straight line up or straight line down.  So take a careful look at the highs and lows.

Are there “higher highs” and “higher lows”?  What’s this tell you about what the market’s direction might be in the next few months?

You are welcome to request access to other charts I keep for the Palos Verdes real estate market and general South Bay real estate market by . 

From Palos Verdes Real Estate Market Charts
 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Palos Verdes Foreclosures and Bank Owned Home News

Palos Verdes Foreclosures

Were you aware that time is running out for distressed homeowners who are upside down in their homes?

The Federal Mortgage Forgiveness Debt Relief Act of 2007 provided enormous benefits for distressed owners of Palos Verdes homes and Palos Verdes real estate. 

These benefits EXPIRE on December 31, 2012.  Trust me on this … if you’re in a position where you need to capture the benefits of a short sale, you do NOT want to wait to the last minute.  It could cost you tens of thousands of dollars with added tax liability to the federal government and state government.image

Before this Act was passed, when a home goes to foreclosure or short sale, the loss to the bank (or debt forgiveness) is considered income to the homeowner. The bank will report that income to the Internal Revenue Service on a 1099 form, and a taxpayer in the 28 percent tax bracket could owe as much as $28,000 on a $100,000 loss to the bank.

For a homeowner, it’s like salt in the wound – not only did they lose their home to foreclosure, but they now the IRS is calling?

Lawmakers enacted the Debt Relief Act to shield distressed homeowners from such a financially devastating event.

The Debt Relief Act covers:

TIMEFRAME: Up to $2 million of debt ($1 million if married filing separately) forgiven between Jan. 1, 2007, and Dec. 31, 2012.

PRINCIPAL RESIDENCE: The forgiven debt must be on a qualified principal residence, generally considered to be a home in which you have lived full time two out of the last five years. Check with your tax preparer to determine if your home falls into this category.

Debt forgiven on a second home, income property, credit cards, car loans, etc. do not qualify for the tax forgiveness, according to the legislation.

PURCHASE MONEY: The debt must have been used to “buy, build or substantially improve” your principal residence and be secured by that property. If you refinanced the home and took cash out to remodel the home, it may be covered. Cash out to pay other bills or make purchases would not qualify, however.

Though some property owners may not qualify for the protections of the Debt Relief Act, there are alternatives.

INSOLVENCY: If a consumer’s liabilities exceed their assets, they may fall under the IRS definition of “insolvency,” and some or all of their canceled debt may not be taxable. Your tax preparer can help you determine if you are insolvent and help you complete a Form 982 as part of your tax return.

BANKRUPTCY: Debts discharged through bankruptcy are not taxable income.

DEFICIENCY BALANCE: Tax liability on a discharged debt differs from a deficiency. In California, the owner of a home lost through foreclosure or sold in a short sale often is not liable for the balance owed.

Loan modifications and short sales can take several months or longer. Homeowners facing difficulties should not wait until the last moment to take action. The rush to complete a short sale or loan mod at the end of 2012 will keep many from taking advantage of the federal protections.

If you know someone that needs to understand the benefits of short selling their home OR you want to know about what advantages there are as an investor to buying a short sale, contact me today!

 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com

Selling a home in Palos Verdes Estates CA

How to sell Palos Verdes Estates homes

Sure, marketing is key, but what kind of marketing? What works? Does traditional print media work? It doesn’t in my opinion, but when you can combine print media with the omnipotent internet, the two combine to create some spectacular results.

It’s why I’ve chosen South Bay Diggs as the print media and internet solution for my marketing. If you’re looking for Palos Verdes Estates real estate in the Lunada Bay area of town or if you just want to see how the ad works, go to this link now. Lower

From Lunada Bay Real Homes For Sale 2809 Paseo del Mar
 
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George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com