Saratoga ~ Los Gatos ~ Monte Sereno California Real Estate

Almaden Valley ~ 95120

I was out previewing Almaden Homes in Almaden Valley yesterday.
Unlike most days when I preview Almaden Homes, yesterday I took time to really embrace all that Almaden Valley is.

I stopped by the Almaden Golf and Country Club which is the host of many LPGA Tournaments. It was a slightly hazy day in Almaden Valley – the sun was shinning – however it was a bit cold. Nonetheless, the Almaden Golf and Country Club Golf Course is as beautiful as ever – don’t you agree?

No wonder so many Silicon Valley residents love living in Almaden Valley!

I then drove to Almaden Quicksilver County Park which is one of Almaden Valley’s public recreational sites. Even on a hazy day – the view of Almaden Valley is spectacular!

Kathleen Daniels, Broker Realtor and Almaden Valley 95120 home Specialist.

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Almaden Valley ~ 95120*

R the heating costs for your Saratoga Home rising through-the-roof?

How does your ‘R’ measure up?

The R-Value in your Saratoga Home measures how well insulation retains heat inside your home. “R” relates to resistance to heat flow. The higher the R-Value – the more resistant to heat flow. When a Saratoga Home has a high or adequate R-Value - heat is retained in the Saratoga Home. Simply stated, adequate insulation prevents heat from rising through the roof!
Up to an estimated 45% of a home’s energy loss occurs through the attic/roof. Source: The Department of Energy.

It is expected that heating costs may rise up to 15% this winter. The R-Value in your Saratoga Home can save you money. Consider the R-Value being as important as your FICO score. A small investment in insulation can equate to huge savings on your energy bill.

An easy way to determine the R-Value of the attic in your Saratoga Home is to measure the thickness of the existing insulation and multiply the number by three. If the existing insulation is 4 inches thick – the R-Value is 12.

If the recommended R-Value is 32 and your home currently has 12, then adding insulation with an R-Value of 20 would raise the R-Value insulation in your home and that would help cut heating costs.

The most common do-it-yourself home improvement type insulation is batt or blanket which are made of non-combustible fiberglass. Blankets are continuous rolls of insulation and batts are pre-cut strips – which can be stapled or pressed into place. Of course, insulation can also be stuffed, blown or poured. Consult with a local supplier and discuss which insulation option would be most appropriate for your Saratoga Home.

You will discover that once you insulate the attic space in your Saratoga home – you will be so pleased with the energy savings that you will undoubtedly want to add insulation in other areas of your home as well. Consider adding insulation to ceilings with unheated spaces, floors above vented crawl spaces, and floors over unheated garages and porches.

When you adequately insulate your Saratoga home you will automatically insulate your money which would otherwise be spent on the high cost of heating bills.

Clearly R-Value recommendations vary based upon the location of a home. If you want to learn more about the recommended R-Value for your Saratoga Home, then visit the U.S. Department of Energy’s website - Energy Efficiency and Renewable Energy where you will find valuable information and tools like a zip code insulation calculator!

Kathleen Daniels ~ Broker Realtor and Certified REO Specialist

Saratoga Real Estate – San Jose California Homes ~ 95125, 95120, 95124, 95118, 95138, 95136, 95123, 95070, 95008 and surrounding Silicon Valley neighborhoods.

Saratoga Homes

Buying a Saratoga Home?

If you are buying a Saratoga home or refinancing your Saratoga home, then you want to speak and understand the mortgage language. The following are some important Mortgage terms you will want to know.

1. Adjustable Rate Mortgage (ARM): A mortgage in which the interest changes periodically according to corresponding fluctuations in an index.
2. Amortization: A repayment method in which the amount you borrow is repaid gradually tough regular monthly payments of principal and interest.
3. Appraisal: A fee charged by an appraiser to render an opinion of market value as of a specific date.
4. Cash Out: Receiving money back when refinancing your present mortgage.
5. Credit Limit: The maximum amount that you can borrow under a home equity loan.
6. Down Payment: The difference between the purchase price and that portion of the purchase price being financed.
7. Due On Sale: A clause in a mortgage agreement providing that, if the borrower sells, transfers, or encumbers the property, the lender has the right to demand the outstanding balance in full.
8. Fixed Rate: An interest rate which is fixed for the term of the loan. Payments are also fixed at one amount.
9. Interest Rate: The periodic charge, expressed as a percentage, for use of credit.
10. PITI: Principal, interest, taxes and insurance which comprise your monthly mortgage payment.
11. Variable Rate: An interest rate that changes periodically in relation to an index.

In addition to speaking and understanding mortgage language, it is equally important that you are working with a qualified mortgage professional. All lenders are not created equal – just as all Realtors are not created equal.

Many home buyers confuse pre-qualification with loan approval. Unless you have sat down with a lender (ideally face to face) and provided the lender copies of documents required for loan approval (the lender will tell you what they need) you likely have only been pre-qualified. In most cases, pre-qualification is not enough to get an offer accepted. Loan approval letters are required in most cases. Offers on bank-owned homes and short sales require loan approval.

If you are serious about buying a Saratoga home, then you definitely want to obtain loan approval, which means you have in your possession, a loan approval letter from the lender or mortgage broker. In addition to stating loan amount and terms, the loan approval letter will serve you well if it also states your financial strength, high FICO score, job stability, etc. A loan approval letter is your resume qualifying you to buy a home. The stronger your resume and qualifications are, the better your changes of getting the home.

A weak, poorly written, unsupported loan approval letter is a red flag. A highly qualified professional Realtor will see the red flag and point out the “risks” to a seller upon offer presentation. Even though you may be highly qualified for the loan your offer may be rejected based upon a weak, unsupported loan approval letter. If your offers are not being accepted, then ask your agent and your lender why?

Contract your Lender with any questions you may have regarding your loan.

Saratoga Real Estate ~ specializing in 95070 and surrounding Saratoga neighborhoods.

Kathleen Daniels – REO Specialist

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Saratoga Homes*

Preparing Your Saratoga Ca ~ 95070 Home for Winter

Is your Saratoga home prepared for winter?

It’s important to make sure your Saratoga Ca home is ready for winter weather.
As you inspect your Saratoga home, keep these tips in mind

1. Check smoke and carbon monoxide detectors - replace batteries if needed.
2. Inspect roof and chimney - check flashing.
3. Check exterior of home – cracks in stucco, ensure wood is sealed
4. Check windows and doors for drafts - caulk or weather strip if needed.
5. Clean gutters and downspouts – ensure rain flows off roof and away from home
6. Inspect your heating system, replace filters.
7. Survey attics and insulation - lower your heating bill by maintaining proper insulation.

Silicon Valley Real Estate

Kathleen Daniels ~ Broker Realtor and REO Specialist

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Saratoga Ca ~ 95070*

Bank-Owned Homes

What is a Bank-Owned Home?

Once a bank or lender has fully foreclosed on a property (Foreclosure Timeline) it becomes bank-owned. Most bank-owned properties are listed with real estate agents. Once the property is listed – it is commonly referred to as a REO or (“Real Estate Owned”).

Are you thinking about buying a bank owned home?

If so, are you considering a bank-owned home because you want a “good deal?” If you are like most people then your answer is probably yes – I am looking for a good deal! Clearly, good deals are available in the bank-owned market. Buying a bank-owned home may not be as easy as one might think and certainly is not without risk. Buying a bank-owned home will require a lot of research, persistence and patience. Buying a bank-owned home also requires a lot of preparation.

If you are considering taking advantage of the many unique REO buying opportunities available today, then you definitely want to consider the following:

1. Choose a Realtor who knows the REO business. Choosing to work with a certified REO specialist will undoubtedly help you win in the negotiation process. Banks and lenders have their own unique and specific requirements for offer presentation. If you are working with an agent who does not know or understand the REO process, your offer may never been seen by the bank. That is a fact. Many banks will not even look at offers that are incomplete.
2. Sit down with a qualified lender and get pre-approved. Most banks require prospective buyers to get pre-approved with the bank who owns the property. Although buyers are not required to use the bank to close on the transaction the bank wants to know upfront that the buyer making the offer is qualified to close.
3. Most bank-owned homes are sold “as is” and inspections will be at the buyer’s expense. Caveat Emptor ~ Buyer Beware!
4. An offer to purchase a bank-owned home must accompany specified forms and other special documents required by the bank. If you are working with an REO Specialist you won’t need to be concerned about these forms and documents because your agent already knows what the bank requires.
5. Making a low-ball offer on a bank-owned home may cause the bank to ignore the offer. Because most REO properties are priced to sell, and banks are back-logged with property they want to release from their inventory, banks typically do not respond to low-ball offers on REO properties.
6. Keep in mind, the lender is behind the wheel in bank-owned transaction. Lenders have their own rules, processes, and guidelines. The lender is required to answer to anyone, except the bank.
7. Consult with a Realtor and REO Specialist and decide if buying a bank-owned property is right for you. Many people consider buying a bank-owned home because they believe it is a better deal. It may or may not be a better deal and it may or may not be the best opportunity for you. Many buyers have learned that in looking for a bank-owned home they have found a traditional listing that proved to be an equal or better value … a value they realized without the additional risk or added costs of obtaining inspections.

Silicon Valley Real Estate – Kathleen Daniels – Certified REO Specialist

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Bank-Owned Homes*

Active Single Family Home Listings for week ending Nov 29, 2008 compared to December 1, 2007.

Valley MLS, San Jose Ca homes
Willow Glen
95125

There were 245 single family home listings active in the week ending November 29, 2008 compared to 189 single family home listings active in week ending December 1, 2007. Of the 245 single family home active listings there were 37 short sales, 13 bank owned homes and 195 traditional listings.

There were 36 San Jose condos and San Jose Townhomes listed active compared to 33 in 2007. Of the 36 San Jose condos and San Jose Townhomes there were 5 short sales, 7 bank owned reo and 24 traditional listings.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.

Offered by Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

Foreclosure Timeline

Foreclosure Process

Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Listings ~ Willow Glen ~ November 29, 2008*

Active Single Family Home Listings for week ending Nov 29, 2008 compared to December 1, 2007.

Valley MLS, Saratoga Homes
Saratoga California
95070

There were 131 single family home listings active in the week ending November 29, 2008 compared to 77 single family home listings active in week ending December 1, 2007. Of the 131 single family home active listings there were 5 short sales, 0 bank owned homes and 126 traditional listings.

There were 18 Saratoga condos and Saratoga Townhomes listed active compared to 8 in 2007. Of the 18 Saratoga condos and Saratoga Townhomes there were 1 short sale, 1 bank owned reo and 16 traditional listings.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

Foreclosure Search Free

Foreclosure Process

Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Listings ~ Saratoga ~ November 29, 2008*

Active Single Family Home Listings for week ending Nov 22, 2008 compared to Nov 24, 2007.

Valley MLS, San Jose Ca homes
Almaden Valley
95120

There were 97 single family home listings active in the week ending November 22, 2008 compared to 58 single family home listings active in week ending November 24, 2007.

There were 11 San Jose condos and San Jose Townhomes listed active compared to 9 in 2007.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings including short sales and bank owned reo properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

REO Sale

Foreclosure Process

Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Listings ~ Almaden Valley ~ November 22, 2008*

95033 Home Sales in August 2008

Reporting 95033 resale single family residences and condos as well as new Los Gatos California homes sold by zip code 95033 in August 2008.

% Change is from the same month last year at the Median Price. Los Gatos California home sales include all attached and detached Los Gatos Ca homes, both new and resale, including FSBO, family transfer and out of area sales. Price per Square Foot pertains only to single family resale.

The information is gathered from public records at county recorders offices where documents are filed after the close of escrow.

Los Gatos
Zip: 95033
Sales: 5
% Change: -16.7%
Med. $: $409,750
% Change: -52.8%
High $: $1,578,500
$/Sq. Ft. $278
% Change: -49.1%

Receive a free monthly Los Gatos Market Trends Report

Search the Los Gatos Ca MLS

Kathleen Daniels is a Saratoga Real Estate Broker Realtor® serving the needs of home buyers and home sellers in Saratoga California ~ Silicon Valley ~ Santa Clara County California.

Los Gatos California Real Estate

1.800.972.1822 ~ Call today for a free ~ no obligation ~ home value analysis!

Copyright © 2008, All Rights Reserved by Kathleen Daniels * Monte Sereno California Market Trends ~ August 2008*

Active Single Family Home Listings for week ending Nov 22, 2008 compared to Nov 24, 2007.

Valley MLS, Saratoga Homes
Saratoga California
95070

There were 139 single family home listings active in the week ending November 22, 2008 compared to 84 single family home listings active in week ending November 24, 2007.

There were 19 Saratoga condos and Saratoga Townhomes listed active compared to 10 in 2007.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings including short sales and bank owned reo properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

Foreclosure Timeline

Foreclosure Process

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Saratoga Homes ~ November 22, 2008*

Active Single Family Home Listings for week ending Nov 15, 2008 compared to Nov 17, 2007.

Valley MLS, Campbell Homes
Campbell California
95008

There were 184 single family home listings active in the week ending November 15, 2008 compared to 147 single family home listings active in week ending November 17, 2007. Of the 184 single family home active listings there were 26 short sales.

There were 95 Campbell condos and Campbell Townhomes listed active compared to 91 in 2007. Of the 95 Campbell condos and Campbell Townhomes there were 11 short sales.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

REO Sale

Foreclosure Process

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Campbell Homes ~ November 15, 2008*

Active Single Family Home Listings for week ending Nov 15, 2008 compared to Nov 17, 2007.

Valley MLS, San Jose Ca homes
Almaden Valley
95120

There were 97 single family home listings active in the week ending November 15, 2008 compared to 66 single family home listings active in week ending November 17, 2007. Of the 97 single family home active listings there were 10 short sales.

There were 12 San Jose condos and San Jose Townhomes listed active compared to 8 in 2007. Of the 12 San Jose condos and San Jose Townhomes there were 0 short sales.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

Foreclosure Search Free

Foreclosure Timeline

Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Listings ~ Almaden Valley ~ November 15, 2008*

California Foreclosure Law
Civil Code 2924
Foreclosure Process California

Generally speaking, a lender would prefer to receive payments than receive a home due to foreclosure. Lenders will often accommodate home owners who are having difficulty making payments. The best course of action is to call the lender before missing payments. Lenders may restructure the loan or make alternative payment arrangements.

If a homeowner misses payments and does not contact the lender to make alternative arrangements or restructure the loan, the lender may begin the foreclosure process. The lender files a Notice of Default with the County Recorder’s Office. A copy of the notice is mailed to the property owner.

If a default is caused by a balloon payment not being made when due, then the lender can require payment in full on the entire outstanding loan as the only remedy to cure the default. If the default is not cured, the lender may direct the trustee to sell the property at a public sale.

Public Sale: A Notice of Sale must be published in a local newspaper and posted in a public place (typically the courthouse) for three consecutive weeks. Once the notice of sale has been recorded, the property owner has until 5 days prior to the published sale date to bring the loan current.

If the default is cured by the owner the deed of trust is reinstated and regularly monthly payments resume. It may still be possible for the property owner to work out a postponement on the sale with the lender.

If a postponement is not reached, then the property goes “on the block.” When properties are sold “on the block” at a trustee’s sale, buyers must pay the amount of their bid in cash, cashier’s check, or other instrument acceptable to the trustee.

Caveat Emptor - Buyer Beware: There is a high probability that foreclosed properties may carry the burden of overdue taxes, liens and clouds on title. Be sure to investigate possible outstanding liens and encumbrances prior to submitting a bid at a pubic sale. It is possible that title insurance may not be available following a foreclosure sale or exceptions may be included in a title insurance policy of a foreclosed property.

Call today for more information about buying an REO property! 1-800-972-1822.

REO Sale

Foreclosure Search Free

Silicon Valley Real Estate

Whether you are buying a Saratoga home or selling your Saratoga home, it is always good to speak and understand the language. The following are some important Real Estate terms to know.

Appraisal/Appraised Value: an opinion of the market value of a Saratoga home expressed by a professional real estate appraiser.

Closing Cost: expenses incurred by a home buyer and home seller (in addition to the price of the home) when a Saratoga home is sold.

Commission: an amount paid to a Realtor for their services, usually a percentage of the sales price of the Saratoga home.

Deed: a legal document conveying ownership of property.

Down Payment: the portion of the home’s purchase price the home buyer pays in cash.

Earnest Money: the deposit given by a home buyer to a home seller to show that the buyer is serious.

Escrow: the holding of documents and money by a neutral third party until all parties perform under the terms of the agreement between the home buyer and home seller.

Hazard Insurance: an insurance policy that covers losses incurred as the result of property damage such as fire, wind or other hazards.

Homeowner’s Warranty: a policy that covers certain repairs of a newly purchased home for a certain period of time.

Realtor®: a real estate broker or agent who is a member of the local Board of Realtors, and State Association of Realtors. Realtors adhere to a high standard of professionalism and strict code of ethics.

Title: a legal document establishing the right of ownership of property.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings including short sale and REO properties.
Saratoga Ca Homes - register to view sold listings in your area. View Maps, Saratoga Schools and more!

http://www.marketingsplash2.com/Default.aspx?ID=PMHRMIOBJDJACJ&lat=&lon=&s=1&t=

Offered by Kathleen Daniels, Broker Realtor – Intero Real Estate

Saratoga Ca Homes - view Sold Homes Smart Search and search for sold homes in your area. View Maps, Saratoga Schools and more!

California Foreclosure Law
Civil Code 2924

Foreclosure Timeline

• Record Notice of Default – Day 1
• Mail Notice of Default – Within 10 business days of recording Notice of Default
Post, publish or serve Notice of Default, when necessary
• Mail Notice of Default – Within one month of recording Notice of Default
• Set Sale Date – After three months of recording Notice of Default
• Send Notice of Sale to IRS, when necessary – 25 days before sale date
• Publish Notice of Sale - 20 days before sale date
• Post Notice of Sale - 20 days before sale date
• Mail Notice of Sale - 20 days before sale date
• Request for directions to property sent to requesting bidders – within 10 days from 1st
• Record Notice of Sale – 14 days before sale date
• Trustee cannot sell for 7 days after expiration of court order – 7 days before sale date
• Right to reinstate – 5 business days before sale date
• Property sold at Sale – Sale date

Property that fails to be sold at a Trustee Sale goes back to the bank and becomes REO – Bank-Owned. All liens against the property or any unpaid taxes or fees are settled once a property becomes an REO.

Call today for more information about buying an REO property! 1-800-972-1822.

If you are looking for bank owned homes then you definitely want to register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just REO properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

foreclosure search free
REO Sale

Silicon Valley Real Estate

Copyright © 2008, All Rights Reserved by Kathleen Daniels *California Foreclosure Law ~ Foreclosure Timeline*

Fantasy of Lights

Vasona Lake County Park ~ Los Gatos
November 23, 2008 – December 31, 2008
Nightly from 6:00 pm – 10:00 pm

Fantasy of Lights is celebrating its 9th season. Vasona Park is transformed into a fantasy of thousands of colorful twinkling lights and many animated displays. Fantasy of Lights is one of the most popular family traditions in the South Bay Area.

Come join the fun and celebrate this holiday season ~ enjoy the magic and splendor of Fantasy of Lights at Lake Vasona in Los Gatos Ca.

Silicon Valley Real Estate

Saratoga homes for sale
REO Sale

Saratoga Homes

Active Single Family Home Listings for week ending Nov 8, 2008 compared to Nov 10, 2007

Valley MLS, Saratoga Homes
Saratoga California
95070

There were 143 single family home listings active in the week ending November 8, 2008 compared to 91 single family home listings active in week ending November 10, 2007. Of the 143 single family home active listings there were 6 short sales, 0 bank owned homes and 137 traditional listings.

There were 19 Saratoga condos and Saratoga Townhomes listed active compared to 13 in 2007. Of the 19 Saratoga condos and Saratoga Townhomes there were 1 short sales, 14 bank owned reo and 17 traditional listings.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just bank owned reo properties.

Offered by Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert

Foreclosure Free Search
REO Sale

Active Single Family Home Listings for week ending Nov 8, 2008 compared to Nov 10, 2007

Valley MLS, San Jose Ca homes
Santa Teresa
95138
95119
There were 107 single family home listings active in the week ending November 8, 2008 compared to 148 single family home listings active in week ending November 10, 2007.
Of the 107 single family home active listings there were 46 short sales, 17 bank owned homes and 44 traditional listings.

There were 16 San Jose condos and San Jose Townhomes listed active compared to 33 in 2007
Of the 16 San Jose condos and San Jose Townhomes there were 6 short sales, 5 bank owned reo and 5 traditional listings.

Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.

Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Foreclosure search free
REO Sale

Saratoga Home Sales Reported in September 2008
Saratoga 95070

Property Type: Single Family Homes ~ Saratoga Real Estate
There were 23 single family homes reported sold in Saratoga during the month of September 2008.
Current Inventory in the month of September 2008 = 135
The Average Price was $1,957,173
The Median Sales Price was $1,690,000
The Average Days of Market (DOM) was 27
% LP Received = 96.22%
There were 54 new listings reported in Saratoga, California in September 2008.

Property Type: Condos / Townhomes ~ Saratoga Real Estate
There were 4 condos / townhomes reported sold in Saratoga during the month of September 2008.
Current Inventory in the month of September 2008 = 19
The Average Price was $625,000
The Median Sales Price was $632,500
The Average Days on Market (DOM) was 12
% LP Received = 98.55%
There were 7 new listings reported in Saratoga, California in September 2008.

Definitions:
Current Inventory = represents the total number of properties with status 1, 2, and 3.
Status 1 is active; Status 2 is pending with release; and Status 3 is pending without release.
Average Price = the sum of the sales prices divided by the number of sales.
Median Sales Price = is the sales price of the property that falls in the middle of all the sold properties.
Average DOM = the sum of the number of days on market for sold properties divided by the count of sold properties.
New Listings = the number of listings with a list date within the month being reported.
% LP Received = the sum of the sold prices divided by the sum of the list prices multiplied by 100.

Kathleen Daniels is a Saratoga Real Estate Agent serving the needs of home buyers and home sellers in Saratoga and Silicon Valley.

Silicon Valley Real Estate
Almaden Homes

Copyright © 2008, All Rights Reserved by Kathleen Daniels *Saratoga Real Estate Closed Sales in September 2008*

REO Sale and REO Purchase Program

Indymac Bank is providing financial assistance to an owner-occupied home buyer who purchases an Indymac Bank property. Because Prospect Mortgage is Indymac Bank’s National lender for REO purchases the financial assistance is available only if a REO home buyer uses Prospect Mortgage for an FHA or VA loan.

Indymac Bank will provide up to six (6) percent of the sales price to assist with reducing the interest rate and/or paying funds towards closing costs. For example, if a REO home buyer were to buy a $400,000 foreclosure, the REO home buyer would receive up to $24,000 to either lower the interest rate significantly, pay closing costs, or a combination of both.

Contact Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert to set up an appointment to preview properties owned by Indymac Bank. Again, Prospect Mortgage must provide the loan and it must be an owner occupied FHA or VA loan. 1-800-972-1822

Foreclosure Search Free

REO Companies

Silicon Valley Real Estate

Bank Owned Homes