Blog |

RSS Feed

Share this Article:

Testimonials

Category: Testimonials | Permalink

Published: Tuesday, December 22, 2009

Words cannot express our appreciation! You've helped us find a wonderful home. You drove us all around town; you've stood by us, advocated for us, and went above and beyond your duty. We could not have gotten through the process without your constant help, support, and encouragement. You are truly our friends. We met by pure chance and we believe it was meant to be. We want to keep you in our lives.

Thank you, Thank you, Thank you!!!

Love, John and Polina

I'd like to thank both of you for the honest straight forward work you both did in selling my mom's home. You made the ordeal so much easier for me to get through! I know you ran into some snags along the way, but you both took care of everything right away. You were both truly a pleasure to be around, and your down to earth personal approach was refreshing in this day and age. You treated us like we were selling a mansion!!!

Bless you both!

Bert

It was great working with you both. I appreciate all of your effort in getting Summerdale closed on time. You were such a pleasure during the entire transaction and I can tell how much you enjoy and care about your clients. I hope to work with you again in the future. Wishing you the best of luck.

Sincerely,

Catherine

Thank you so much for the smooth transaction on Lake Topaz. It was delightful to meet you. I hope we can work together again.

Much success!!! \

Shane

Recently my wife and I utilized your company to purchase our first home. After dealing with numerous Brokers, Bankers, and Realtors, all of which I might add were extremely unhelpful and had no initiative, I ran across Mr. Tony Flores and Ms.Connie Umbarger from Prudential. It was very frustrating for all of us involved but I was amazed by how Mr. Flores and Ms.Umbarger kept their composure and strived to make myself and my wife happy. A brief story of what took place. We were looking for a place closer to my work. I was living in Oceanside and working down in Coronado. We looked and looked all over but could not find the right place. Finally Tony and Connie introduced us to Ranchwood Condo's in Spring Valley. My income limited me to a certain amount so we could not get that 'dream house', instead we found our 'dream condo'. To make a long story short we settled on the place a d got a really great deal on the home, we actually came out with $6000 worth of equity on the place! Our first home turned out to be a true blessing. Tony and Connie could have very easily pushed us to the side for a bigger sale but they stuck it out to the end and took their job personally and professional. Tony and Connie even met the carpet cleaner on a Friday afternoon for me because I couldn't get there in time from work. Words can not express the gratitude that was shown to both of us. I felt it was imperative to write this letter, Many times people complain about others, the good deeds seem to always be pushed to the sidelines. As a former Marine, and disabled Veteran, I truly appreciate your company's professionalism and I will be utilizing your services again when it comes time to sell. Your company has shown me more respect and kindness than a person could ask for. I ask that you recognize these two individuals because they are an example of a truly professionally run business where the customer is first.

Semper Fi

George Rapciewicz

The sale of my condo was as smooth as I could have ever wished for! It sold for more than I expected and couldn't have been a better experience.

Thanks Connie and Tony you are the best!!!

Jean Schafer

I had a property with many issues and a county citation. Connie and Tony were diligent in their efforts and went over and above what was expected to get my property closed.

Many Thanks,

Ron

We were interested in selling our home and asked Connie and Tony to come to our home and talk with us about selling. They actually asked if we could rent it out instead of selling in this market and buy now because prices are so low. We appreciated their honesty and did buy a home at a great price and will definitely call them when we are ready to list.

Thanks a million,

Bill and Sheila

We appreciate your help and all you went through for us to get this house. It was appreciated more than you know. Thank you so much, hope you have a great Christmas.

From,

M and D

Tony and Connie:

Thank you so very much for a pleasant transaction. I appreciate your professionalism and working with �friends'. I hope your clients will be very happy in their new home.

Julie

Connie:

Congratulations on the Short Sale Close!!!! You are truly one of the hardest working and compassionate real estate professionals I have ever met. I knew that Michelle would be in great hands when she listed with you. Your dedication to getting her property sold allowed her to close a chapter in her life and move on to better times. I am sure that she is very happy that the sale is about to close. Thank You Again - I truly appreciate everything that you have accomplished in this transaction.

Sincerely,

Elaine

I was referred to Connie and Tony by one of my girlfriends who bought a house from them. She told me they were wonderful and integral in her purchasing her home and they weren't even her agents. My husband and I met with Connie not knowing what to expect and on our first trip out found the house of our dreams. It was a short sale but the house was perfect and in a great neighborhood. Connie got our offer accepted and the price reduced. Unfortunately it was too good to be true. The home had major foundation issues so we had to keep looking. Surprisingly it was a very difficult market to buy a home in. We ended up looking for about 5 or 6 months before we found the home we ended up purchasing. During this time Connie was available to us 24/7, literally! I couldn't believe it when I found out she was working with several other clients because she devoted so much time and energy on us. We looked at houses several times a week, wrote tens of offers, waited on several short sales and foreclosures and when we wanted to give up she was always there assuring us she would find us a home where we would be happy. Connie and Tony are a great team. They maintain wonderful working relationships in their field, which allows them to really do great work for their clients. Working with Connie and Tony has been a wonderful experience. They are kind, generous, well-intentioned people. Put your trust in them and they will not lead you wrong. We are very happy in our new home and are extremely grateful. Connie and Tony have lifetime clients in us and we already refer all of our friends and family. Thank you Connie and Tony! We really do love you guys.

The Keslings

Dear Potential Client:

I had the sincere pleasure of working with Connie Umbarger this year while selling my townhome in San Diego, Ca. The sale of my townhome was a huge under-taking given the current economy, real estate market, and my personal situation. When I met Connie I was in the midst of a divorce and could no longer afford my home. I had no idea what my options were regarding the condo or where to start! It seemed a foreclosure may be my only option. In addition to the personal struggles I was working 50-60 hours a week and had no time to properly research selling a home. A family friend gave me Connie's information and it was one of the best phone calls I have ever made. Connie met with me immediately at my home and explained my options. Luckily Connie is a short sale expert and explained to me the differences between a short sale and a foreclosure. What's more, it seemed I qualified for a short sale and could avoid foreclosure! Connie spent seven months working extremely hard with my lenders and buyers to ensure the short sale process was a success. Finding buyers was not an issue but the lenders threw out several obstacles throughout the process and Connie tirelessly fought for me and protected me during the sale. Connie constantly kept me in the loop so I never had to worry or wonder what would happen next. She always made me feel like I was her only client. Connie's follow through was impeccable. I am happy to say that we successfully closed escrow in November 2009! I would recommend Connie to anyone looking to buy or sell their home; whether it is a short sale or regular real estate transaction. She has the expertise to handle even the most complex real estate transactions and her dedication to her clients is truly outstanding. When it's time for me to buy again, Connie will be the first person I call.

Sincerely,

Michelle

Jump to Top

Share this Article:

San Diego REO and Foreclosure information |

Category: Newest Real Estate Information | Permalink

Published: Wednesday, December 16, 2009

Looking for the answers for the most common questions when buying an REO home in San Diego

Looking for the answers for the most common questions when buying an REO home or also called a bank owned. Educating yourself while shopping online for a bank foreclosure in the San Diego market will make the process easier.

Can I use FHA or VA financing to purchase a foreclosure in San Diego?

In 2008 the Federal government relaxed its standards on FHA financing to accommodate the REO market place. No longer is a termite report and clearance required. The guidelines for the condition of the home are now relaxed to only require repairs that would fall under the classification of health and safety items. The guidelines do require empty pools to be filled and operational, windows with bars must have quick releases installed; broken windows need to be replaced are just a few items stilled required. This sweeping reform didn't impact VA loans. A termite report and clearance are still needed along with the house being brought up to a higher standard than FHA. The repairs would be required to be completed before closing. The down payment on FHA is only 3.5% (which can be a gift) or VA which is zero down payment.

Can I buy a fixer with little down and have money to do the repairs?

FHA has two excellent programs for fixer properties. The 203K streamline which will allow you to put 3.5% down payment and obtain $30,000 to improve your home after closing. This money can be used for windows, roofs, flooring, new kitchens or baths. This program is designed for the light fixer, anything which is not structural in nature. For the house that needs more work than the $30,000 you can use the 203K program. This loan still only requires a 3.5% down payment. As with any FHA financing if you cannot show enough income to qualify, a non-occupying co-borrower can be used to help qualify.

What if Fannie Mae owns the house?

They have a special program called the Homepath loan. Only a 3% down payment is required. No mortgage insurance is needed, which can save hundreds of dollars a month. Be careful on FannieMae contracts they usually ask you to pay all cost associated with the transfer of the property. This can mean you are paying for an additional title policy and transfer tax.

What protections due I have buying a property from the bank?

You will have a title policy insuring clear title to the property. The standard contract used by realtors in California will give you 17 days to have the property appraised and your loan approved. Within that time frame you may cancel the contract if you didn't receive loan approval or the property doesn't appraise. By state law you will receive a TDS or a Transfer Disclosure Statement. The agents must disclose anything that has a negative impact on the property. The seller, which is the bank, is exempt from this standard disclosure, since they never lived in the house. You are required under the contract to receive a property ID report. This will disclose any positional risks in the area such as fault lines, ancient slide areas or some of the topics discussed. You will have the right to a home inspection, to determine any hidden defects or problems. On a condo the foreclosing of the note usually doesn't wipe out the back HOA dues. Be careful to check the status of any back fees.

Most REO's are purchased as is without out repairs. Bank Owned verses a Short Sale?

With a short sale you may have to wait up to 6 months for the short sale lender to approve the sale. Then you may end up with a higher price than you started with or the bank may not approve the short sale. A contract on an REO gives you a locked in price, closing costs and time frame.

What if the bank sold it to an investor and he is trying to sell it to you?

You must wait 90 days from the time of sale to enter a purchase agreement for FHA financing. Many banks use the same policy for VA loans.

Why buy now?

Interest rates are at historic lows. Many properties are still selling a 50% from the high point of the market, and do not forget the $8,000 federal tax credit which may be expiring.

How should I start looking for a property?

First we recommend selecting a good real estate agent. You should interview your potential agents for years of experience, knowledge of the process when buying a bank owned property, and you should feel comfortable with them as a person. Many buyers select their agent by default rather than design. Your real estate agent can make the difference of a bumpy road along the way or a smooth purchase.

What is the second step in the process?

You will want to be preapproved by a lender and know what your payments and expenses are with a price range you can afford. Many REOs require your preapproval to come from a nationally recognized bank, to have your offer presented. Most banks will do your preapproval for free in the hopes of securing your business. You will need to provide the bank with current pay stubs two years tax information and current asset documentation.

We can sell you any home in San Diego County listed by any broker.

We are native San Diegans and love the area!

WE ALWAYS HAVE TIME FOR YOU, YOUR FAMILY & FRIENDS!

REO Certified

Specializing in Jamul, El Cajon, Rancho San Diego, Spring Valley, Lemon Grove, Lakeside, Alpine, Ramona, La Mesa, Santee, San Carlos, Del Cerro, Mission Valley, Bonita, Chula Vista, San Diego Real Estate, San Diego Foreclosures, San Diego Short Sales, Realty Executives All Area, Connie and Tony

Jump to Top

Share this Article: