My New Blog

Hi All,

Click here Buy a Home Now PDF.pdf for an informative summary of the market. I have been preaching this for a while but this document does a nice job of summing things up. Sellers - INVENTORY IS EXTREMELY LOW. PRICE YOUR PROPERTY RIGHT AND GET READY TO MOVE. Call me for a market value evaluation.

Greg

Z-REO team is performing Home Retention assignments for major lenders. We are contracted (and paid) to contact the distressed owners and facilitate a negotiation between the Lender and Homeowner. The goal of this meeting is to keep the owner in the home. Call me if you or you know anyone who has been victimized by the economy or drop in values and my team can give a no obligation consultation about your/their situation. Again, it is a no obligation consultation unlike some of the loan modification companies out there charging up front fees. Try my team first we will give you or your acquaintances all of the options available. WE ARE HERE TO HELP!

Greg Z 

The moratorium on foreclosures is nearing an end. It is now looking like the moratorium will be lifted somewhere around the beginning of September. The Z-REO Team is doing BPO's (Broker Price Opinions) on pre-foreclosure properties on a daily basis. These properties being valued are the next REO's (real estate owned) or simply bank owned sales. Expect a flood of new bank owned listings to come SOON! Does this mean values are going to plummet? Considering a property in Anaheim priced at $232,000 had over 90 offers in less than a week on the market it looks like the entry level isn't going to go much lower. There are at least 89 Buyers who did not get that home and are in line for the next one. By the way, it sold for over $275,000. This is true for most homes in decent areas in Orange County under $500,000. Call me at (714) 403-0153 for my opinion on the over $500,000. I have something to share.

I will provide additional updates as they become available. It's an exciting time in the market for Buyer's (affordability), Seller's (low inventory) and investors (positive cash flow).

Greg Z

For those of us in California, the moratorium on foreclosures was extended another 90 days as the government does not feel the banks are doing enough to help folks stay in their homes. It now looking like the moratorium will be lifted somewhere around the beginning of September. Where's the inventory going to come from now? The answer is those Seller's who have retained their equity. If that sounds like you, and you want to move up, down or out...now appears to be the time. Once the foreclosures hit the market, the competition (inventory) for Buyers will increase.

I will provide additional updates as they become available.

Greg Z

Hi All,

The property for the 203K rehab loan has closed escrow and the construction is going to begin soon! Check back for updates and photos to see how you can buy a home with the funds provided to fix it up how you want it.

The foreclosure moratorium was supposed to be up around June 1st but it now looks more like July or August. I took an REO class last week taught by a couple of agents with 48 and 250 active bank owned listings. These agents are connected with several Lenders and said there an extremely large number of bank owned homes to be released on the market.

Sellers: This is the best time of the year to sell. School is ending and the summer buying rush is on us. Plus, the inventory is very low. All of my listings have received multiple offers. Should you sell before the banks release their inventory?

Buyers: Stay patient but be prepared to move when you find the right home. Interest rates have crept up in the past couple of weeks. Get pre-qualified and give me a call to give you some pointers on how to get your offer accepted.

Investors: Cash flow investment properties are available in Orange County for the first time in years! Call me for some examples and start building your portfolio now!

Until next time - Greg Z (714) 403-0153

Well it's true...the moratorium lives (see March 30 Blog). Six hours of seminars at REOMAC today with many top REO agents in the country and it is confirmed...there is little activity now and there is going to be a tidal wave of bank owned homes hitting the market soon. What should you do? Buyers...get pre-approved with a Lender and give me your contact information and wish list so when the right deal comes along you will be in position to capitalize on the tremendous opportunity that is about to present itself...Sellers...now is the time...see my March 30 Blog.

Until tomorrow...Greg Z

Hi Everyone  - I am attending the REOMAC Convention from April 4 through April 7 in Palm Desert, CA. Stay tuned to my blog and I will try to provide daily updates with relevant information taken from the numerous seminars, talks, discussions and classes about bank owned and foreclosed homes I will be attending. Doing my best to keep you informed of the current market conditions.

Greg Z

Thinking of Selling your Home? There are basically 2 reasons why properties fail to sell during the listing period in this market.

· PRICE

· YOUR MOTIVATION

Price is determined by what the best, most qualified buyer is willing to pay and you can only find that buyer through creating maximum exposure for your property. Your reasons for moving, your motivation, have a direct impact on how quickly your home sells.

SELLERS - FORGET about what you are hearing in the media. I am extremely active in the current market on a daily basis and the market has significantly changed in the past few weeks. How has it changed?

· Interest rates are at levels we haven’t seen in years

· Inventory is at its lowest point in years

· The government is providing economic stimulus packages to incentivize buyers

· AND…MOST IMPORTANTLY…the government has recently placed a 90-day moratorium on the release of bank owned properties

· This has reduced the inventory and competition in the market.

What does this mean for you? If you have the proper motivation to sell (bigger house, downsizing, getting out of SoCal?) this may be a small window of opportunity to satisfy your needs before the unknown impact of the release of the next wave of bank owned homes effects the market. Let's get your house priced right now and get ready to move!

My listings are receiving heavy open house and Realtor traffic plus multiple offers. THAT IS WHY IT IS IMPORTANT TO ACT NOW! Please call me at (714) 403-0153 to arrange a confidential, no obligation consultation at your earliest convenience. I look forward to working with you.

Greg Z

THANKS to all of you I am currently "working" with!!! You guys (my Buyers, my Sellers, my Team) make my "job" easy and fun. I am really lucky to leave work every night with a smile on my face because of our relationships. THANKS!

203K Update: The deal is rolling along. The contractor estimates have been sent to the 203K consultant for review. The Appraiser is scheduled this week. If you are a first time visitor to this Blog...review the previous posts to get an update on exactly what the 203K is.

One Open House this past weekend have 15 or so parties. The Agents at the Orange Caravan this morning reported similar activity in all price ranges.

Until next time...Greg Z