Napa Real Estate MLS Search
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1. Where are the home market value opportunities NOW?
Bank Owned Properties aka REO Real Estate Owned is a Lenders term when the asset, or property is currently owned by them.Foreclosure: Bank has taken possession, same as REOReduced priced homes: Selling home owners because of lower priced foreclosed homes in their neighborhood.
Short Sales: Trying to Sell the home for less than what is owed to the banks. Home owners who have either stopped making their mortgage payments by choice or necessity or foresee problems making payments going forward. Short sales usually take a long time to complete while the lender figures out if the short sale is the only option. The home owners have to show true financial distress/hardship. A submitted offer can sit at the lenders office for quite a while allowing other possibly better offers to be submitted. Short Sale means the home is worth less than the mortgage(s).
2. Home Buying: How and Where to Start
Finance or Cash: When financing, knowing all costs a Buyer will incur, not only at the time the loan is made but ongoing monthly and annual obligations. eg. principal, interest, taxes and home owners insuranceInterest Rates and Loan Costs: We help explore all options and get it in writing. We recommend talking with 3 different lenders to get the best price)Loan Programs: You'd be amazed at the varying kind of loan programs and buyer down payment assistant programs lenders are offering at great rates. Fixed rate loans. Not the "surprise" loans that created this foreclosure market.
Determine Affordability and Comfort Level: Setting a budget, obtain home loan financing pre approval and staying with in your home buying budget.
3. Find Value Navigate and Understand the Foreclosure Purchase Process
We will discover your preferences and needs: We ask a lot of questions during our research.Home Search: We provide Free MLS Home Search lists of the best priced homes with-in your budget and try to match your preferences accordingly.
Inform, Educate and Explain: Explaining the process and staying in constant communication from the first step to closing on your new home.
Have Real Estate Questions or Want to Start Researching Options,
With the local real estate market changing through the years an experienced Realtor® can help home buyers find real value as well as help home sellers get the best price and terms for their home for sale.
Homes For Sale
Searching for the right home on our MLS DataBase provides a home buyer with pictures, maps and amenities online at their fingertips.
Napa County Foreclosures
Foreclosure homes make up a big part of our current real estate market. Finding good value in foreclosures, REO and Bank Owned Homes in Napa County takes patience and an eye for any problems home buyers may need to be aware of.
A "short sale" or "negotiated settlement" or "short pay" occurs when a Lender agrees to accept less than the amount owed as a payoff. If the property is worth less than the amount owed on the loan, then even if the Lender forecloses and takes back the property, they know they are going to take a loss. These are often referred to as Pre Foreclosure Homes.