Short sales are like that.

It’s a good idea. Really. Much like avoiding long lines in grocery store (foreclosure). So you do the right thing. You hire an agent with sass and skill who (hopefully) properly preps you for the pitfalls and frustration you’re about to endure:

1. It will take time.
2. You will need to provide bank statements, pay stubs, and promises that you’re not related to Bill Gates or otherwise loaded with off-shore accounts.
3. You will have to let people inside your house; they will see your bedspread, book shelves, and litter box. (you will have to keep it clean).
4. The bank will play hard ball (this is where the sassy agent comes in).
5. You may need therapy (this is where the vodka comes in).

But then, if the blessed approval comes in (and a small celebration ensues) escrow is opened and all that awaits is the nail-biting inspection and appraisal period. You hope there is no dry rot damage from the weekend your son made a pool out of the hallway bathroom, and that the appraiser totally misses the mansion that sold next door two weeks ago. Assuming too, that the buyer turns out qualified and doesn’t change her mind because the cute house across the street that just went up for sale has such a neat-o tree in the front. Additionally, you’ve managed to fax and email and scan and be notarized about everything under the sun that always, no matter what, was due two days ago. Now you might, if you are very, very lucky, close your deal.

Seriously though.

While a short sale can be like a bit like a 10 Item or Less nightmare, it is leaps and bounds better than foreclosure. It is the responsible thing to do, that will, eventually (and I have to believed this) help repair our damaged housing market, thus our economy. Plus, you get to maintain your dignity and quite likely buy another house sooner. If it helps, I will bring plenty of banana and vodka. Promise.

4640 Longview Dr North Highlands, CA 95660-5614

Foreclosure Sales Continue to Plummet

For the second month in a row we’ve seen a dramatic drop in the number of properties sold at foreclosure, or “trustee sale”, auctions. Foreclosure sales in California are down 16.7 percent from February to March 2012 and down 53.1 percent from March a year ago. A total of 86,487 sales were scheduled to occur in California, but of those 80.0 percent postponed, and 10.6 percent were cancelled, leaving just 8,392 that were actually sold. Third parties, typically investors, purchased a record 38.6% of the properties that did sell in California.

Foreclosure starts rose in most states, with the largest increases occurring in Washington, California and Nevada. This, at least temporarily, reverses a downward trend, but even with the increase the volume of new foreclosures remains significantly down year-over-year in all the states we cover.

The increase in foreclosure starts is especially interesting in Nevada. Bank foreclosures came to an almost complete halt there after the passage of Assembly Bill 284, which made significant changes to Nevada’s foreclosure laws. The increase this month is directly attributable to new foreclosure starts by Fannie Mae, which is one of very few lenders to have filed any new foreclosures in Nevada since September 2011. Even with the increase by Fannie Mae it is still homeowner associations that are initiating the vast majority of foreclosures in Nevada.

Tambo Says:

The reason these auctions were postponed is because SMART people understand that the responsible thing to do is a SHORT SALE! Let’s review: First, a short sale allows you to buy a house again sooner than a foreclosure, second, the lenders will never come after you, third, it helps us BRING BACK VALUE in our down economy. A house that goes for short sale generally sells 20-30% higher than it does at auction. That means your neighbors’ house value just took a big hit…weren’t they nice neighbors???

Ultimately, if you can’t keep up with your house payment, or if you see that your home’s value with NEVER catch up with the price tag, it might be time to consider a short sale. See the link on this site to learn more. If you need help finding an expert ANYWHERE in the country, just give me a hollar.

Being that I couldn’t bake myself out of a box (or better said, bake without a box) I knew I couldn’t make them myself. Miraculously, people started coming forward, volunteering to donate their time and talent to the cause. First my wonderful cousin, Tonja Brent-Figenshu stepped up and offered to make 200, then my friend Michelle Elder and her daughter Taylor, another 200! I was on to something here! Next, my facebook friend (who I now know face to face) Craig, said he’s make at least 100+….now I was in Cup Cake Heaven!

Next, my dear friend, neighbor and author, Andrea Roth said she’d make some, and another facebook friend and fellow wine-lover Melissa Haines did some too. And I can’t forget my hubby Greg who, even though not feeling well, made the beautiful batch for the guests at the head table. Check these people out! They are amazing and it really goes to show you that charity starts at home. I am so grateful to know there are people who are more than willing to do what they can to help…especially when it involves helping the kids of our nation stay out of harm’s way.

Since we had so many cupcakes left over, I am happy to report that we sent a large batch over to WyndSpring Family Resource Center so that some of our local foster kids can enjoy them this week.

I’ll include some photos here so you can see how lovely some of our big batches were. Help me thank these amazing people!!!