Foreclosures Decline for Third Month

Foreclosures were filed on 332,292 U.S. properties in October, a decrease of 3 percent from September, but still up nearly 19 percent from October 2008, according to foreclosure sales site RealtyTrac.

October marks the third-straight month of declines in foreclosures, which many see as an encouraging sign that the worst of the foreclosures are behind us. Still, some skeptics predict another wave. “The real issue is we don’t know what inventory banks are holding that they have yet to put on the market,” said Stephen Miller, chair of the economics department at the University of Nevada at Las Vegas, during an interview with Bloomberg News.

Source: RealtyTrac (11/12/2009)

THANK YOU to all our friends, family & clients!

Posted November 1, 2009 in the Ventura County Star

Chipotle Mexican Grill and Stan and Renee Rector with Troop Real Estate team up for a good cause!

 

Owen Noguera (center), general manager of Chipotle Mexican Grill in Simi Valley, is joined by Renee Rector, an agent for Troop Real Estate, Inc. in Simi Valley, and her husband/business partner Stan Rector, to display a portion of the food items they raised for Care & Share in Siim Valley 

When Renee Rector won a free meal recently at the Simi Valley Chipotle Mexican Grill’s regular drawing, she had a vision. With the cooperation of Chipotle’s General Manager Owen Noguera she thought of a great opportunity to provide a much needed boost for the local food bank while providing a free meal for members of the community.

It all started when Rector — an agent teamed with husband and business partner, Stan Rector, in Troop Real Estate’s main Simi Valley office — won a free meal at the restaurant.

“Owen asked me to bring in my friends and family members for a free meal,” Renee said. “Giving it some thought and having participated in Troop’s drives to give back to the community for years, I asked him, ‘How many people can I bring?’ He said, ‘How many people are close to you?’ ”

She tried to be modest, but replied “about 30 or so.” Owen said OK.

The Rectors felt it would be a great idea if they offered their clients a free meal at Chipotle Mexican Grill. But along with the invitation, the couple asked them to bring in canned foods and other nonperishable food items to help the local Care & Share food bank in Simi Valley.

“The most amazing part was how many people showed up. Chipotle Mexican Grill provided somewhere between 60 and 78 free meals. We were touched to help so many people with Owen’s cooperation who, in turn, helped others,” Renee said.

Recently, the Rectors visited Care & Share to make the donation of the canned goods in Chipotle Mexican Grill’s name.

“We raised a considerable amount of food in the three hours we were at Chipotle,” Renee said. “Many of the folks that ultimately benefitted are facing particular hardships in today’s economy.” 

http://www.vcstar.com/news/2009/nov/01/simi-valley-troop-team-chipotle-join-benefit-simi-/

Are distressed sales still a concern?

Daily Real Estate News  |  November 12, 2009  |  

Twenty-nine percent of recent buyers purchased a home in foreclosure or through a short sale, according to the latest REALTORS® Confidence Index. REALTORS® who participated in the survey are also concerned about a growing number of foreclosures and the hurdles buyers face in short sales.

The RCI is a key indicator of housing market strength based on a monthly survey of more than 50,000 REALTORS®; in a typical month there are more than 3,000 usable responses. Practitioners are asked about their expectations for home sales, prices, and market conditions; they also share their insights regarding buyer preferences and financing options and how those factors are influencing real estate markets nationwide.

“REALTORS® are on the front lines with buyers and sellers in today’s market and have valuable insights into real estate trends,” NATIONAL ASSOCIATION OF REALTORS® President Charles McMillan said. “The volume of distressed sales that our members are reporting underscores the importance of the recent tax credit extension. By putting cash in the hands of financially healthy home buyers, the credit will continue to help draw down inventory and stabilize home prices to encourage a strong and sustainable housing recovery.”

Despite the high volume of distressed sales, REALTORS® report that their buyers encounter various challenges associated with these types of sales. Buyers who present a short sale offer can wait months before hearing whether their offer will be accepted. In addition, REALTORS® are also seeing increased competition for foreclosed properties, and multiple bids are sometimes driving sales prices over list prices.

Aside from the demand for short sales and foreclosed homes, today’s buyers are increasingly interested in a home’s energy efficiency and proximity to transportation corridors, reflecting concerns about rising energy costs. Many REALTORS® are seeing a growing preference among buyers for smaller homes, as people look to downsize and cut expenses.

Mortgages insured by the Federal Housing Administration are the primary lending vehicle for many buyers; 24 percent of recent buyers used an FHA loan to finance their purchase. However, more than one in five recent buyers—21 percent—paid all cash.

Source: NAR

Great Place to eat in Simi Valley

We know first hand that a referral of someone you can trust is worth it’s weight in gold.  Below is a list of service providers that we do business with, all in which are our valued friends and clients who strive to provide the best quality care in their field.  Give them a try… you won’t be disappointed.

Great places to eat!
Burger Express & Mexican Grill
805) 579-7353 …Ask for Armondo
3200 E. Los Angeles Ave. Suite #1
That’s right!  Great Burgers, Breakfast, Sandwiches and even better Mexican Food!  Great price, authentic taste.  Our client’s agree…  this is one of Simi Valley’s greatest restaurant’s to grab a restaurant style food FAST!  Don’t forget about their catering too!
CLICK HERE to access their website!

Where you can find more.