To get more Escondido real estate information, contact Gary Harmon, your Escondido real estate agent.

If you live in the Escondido real estate area, you should be prepared for at least two major kinds of natural disasters.  In a previous post, I shared with you the “7 Steps to Earthquake Safety.”    The other major potential disaster in the Escondido real estate area is fire.  Not just wildfires, but more often just Escondido house fires.  If fact, in San Diego North County house fires are by far the number one disaster. 

With any kind of disaster you need to be prepared as well as possible.  You should be prepared to evacuate your Escondido home or to stay in the Escondido property if necessary.  To deal with a disaster you need to have a diaster plan and you should have a disaster supply kit.  You can buy these from the San Diego branch of the American Red Cross or make your own.  You should store your supplies in waterproof, sturdy, and easy to carry containers.  Duffle bags and backpacks work well.   You have to be ready to just “grab and go” if necessary. 

When making your own disaster supply kit for your Escondido home you should include enough items to last you and your family for at least three days.   The following is a list of things to include:

• A basic first aid kit
• An extra set of car and Escondido house keys
• A list of prescriptions (you also might want to grab your prescriptions at the last minute)
• Battery powered radio and flashlight ( store the batteries separately)
• Lighter and matches (don’t take or light candles)
• Basic tools and a few kitchen dishes and utensils
• Change of clothes and shoes
• Sleeping bags or blankets
• Water to last at least 3 days (one gallon per person per day)
• Food that won’t spoil or that needs very little cooking
• A manual can opener

Most of these items for your Escondido home disaster supply kit are very inexpensive.  Don’t make your kits too heavy to carry.  Don’t make your Escondido property disaster kit too complicated.  If you do you will never get one made.  Remember, any kit is better than no kit.  Be prepared.  Also, be sure to refresh food and water in the kits as needed. 

For Escondido real estate information, contact Gary Harmon, your Escondido real estate agent.

The median price of available Escondido Homes for Sale this Feb 15, 2010 is $399,900.   The 598 Escondido houses  have a market time of 146 days.  The Escondido real estate market has been consistently cool for several weeks.   Escondido home inventory and days on the market have been rising. It is still a buyer’s market and Escondido real estate prices have continued to fall somewhat. 

Statistical information in this monthly report is supplied by Pickford Escrow and was developed by Altos Research.

The median prices in Escondido homes in the above table does not always give the whole picture.   It sometimes helps to look at Escondido home median prices broken down by quarters.  The following for Escondido homes for sale is an average of all four zip codes.  The median Escondido properties price for the most expensive 25% of Escondido homes is $765,000.  The median price for the upper middle 25% is $485,000.  The lower middle median price for Escondido properties is $320,000 and the bottom 25% of Escondido homes for sale median price is $218,000.  For more information about Escondido homes for sale, contact Gary Harmon your Escondido real estate agent and top Escondido Realtor.

You have always heard, “The early bird gets the worm.”  That is very true when trying to get a good deal on Escondido real estate.  You should not wait too long before you make contact with the Escondido home owner that is in default.  Remember it is 120 days from the notice of default until the bank usually takes back the Escondido house.  Once you have gotten together a down payment, have been prequalified with a good lender like HomeServices Lending, you need to make contact with the home owner for any Escondido property that you have interest in.

Be nimble when contacting the Escondido home owner.

You basically have the following three ways to contact the Escondido property owner.

1. Send the Escondido property owner a note or letter.  An email would work, but you probably do not have that address.
2. Call the Escondido home owner if you have a telephone number.
3. Drive to the Escondido property and knock on the door.  I do not recommend the 3rd option; there may be risk involved.

You may find that you end up using some combination of the above three methods to get intouch with the owner.  Contacting these Escondido home owners who are in default can be the most intimidating step in trying to buy a pre-foreclosure Escondido property.  When the house is already bank owned (REO) you would be contacting a lender directly.  Inexperienced Escondido foreclosure buyers should contact their Escondido Realtor who has some expertise in Escondido foreclosures.

If you are able to make contact with the Escondido owner, remember that they have no obligation to talk to you or work with you.  Let them know that you will give them an option that will be beneficial to them as well as to you as the Escondido home buyer.  You want to make it win-win.  Help the Escondido home owner walk away from the bad situation that they are in without an Escondido foreclosure on their credit.  Even better if they can walk away with a minimum amount of cash.

Be professional will dealing with a pre-foreclosure owner of an Escondido home.

After you have made initial contact, try to set up a meeting so you can see the Escondido real estate and discuss the situations and many options.  Be sure to find out how many loans are against the Escondido home.  If the home is “underwater” where there is more debt than value to the home, you should probably just walk away.  It would be very difficult for you to negoiate a short sale on their Escondido property. 

When you contact the Escondido owner they may not want to talk to you immediately.  In that case leave them your name, phone #, email address, etc. and tell them to call you if they change their mind.

Last Tip when contacting an Escondido pre-foreclosure owner.

Expect some rejection from the pre-foreclosure owner.  They are in a very bad and sometimes embarrasing situation.  Try to be sensitive that they are going through hard times.  They may feel that you are just there to try to take advantage of them.  In any case, be prepared, be respectful, and just move on if they are not interested.  Gary Harmon, your Escondido Realtor, has delt with many short sale and foreclosure situation.  Let his 21 years of experience help you save money and hassle on your next Escondido home purchase.  If you are considering buying a Escondido house that is a short sale, I have put together a series of short sale videos.

An Escondido home becomes a pre-foreclosure when it has a notice of default filed against the Escondido real estate.  There is usually a sale at auction 120 days after the pre-foreclosure is filed.  During this 120 day period the Escondido home owner still has a chance to stop the entire process by paying off what is owed on his Escondido home or selling his Escondido property.  You may contact the owner during this period, but they may not be ready to talk at this time.  To find pre-foreclosures of Escondido homes, use “Free Foreclosure Search.”

How do I buy an auction Escondido home?

After the Escondido property owner fails to make several mortgage payments the bank may file a notice of default on the Escondido house.  After 120 days the property will usually be scheduled for auction.  During the 120 days the Escondido homeowner has a grace period to bring payments up to date and to stop the foreclosure proceedings against his Escondido home.  If the Escondido homeowner fails to do so, his Escondido property will probably be sold at auction.  You can find Escondido properties scheduled for auction along with the dates of the auction at “Free Foreclosure search.”  For more information on how to actually buy this Escondido auction homes, contact Gary Harmon your Escondido Realtor.

How do I buy Escondido foreclosure homes?

Escondido foreclosure homes are homes the bank has taken back through the foreclosure process.  Most banks will list these properties with an Escondido Realtor.  You can find these Escondido homes by using “Free Foreclosure Search,” “Quick Homes Search” or use “Listingbook.”  Gary Harmon, your Escondido Realtor can help you find these homes and get the best deal available.

How do I contact the owners in default?

The only time you can contact the owners in default is during the pre-foreclosue period on their Escondido real estate.  This is usually about a 120 day window.  See Gary Harmon’s next post on “How do I contact the owners in default?” for great tips.

• Make sure your escrow has been properly  opened on you Escondido property.
• Check that the escrow office has received your good faith deposit on your Escondido home.
• Help you schedule a physical inspection on the Escondido real estate you are purchasing.
• Help you review the Escondido home physical inspection and help you make up a repair request list.
• If requested in the contract, make sure the pest control inspection is done on the Escondido house.
• Review all documents with you and make sure that they have the proper signatures and initials.
• Make sure the Escondido home seller provides you all disclosures necessary in a timely manner. 
  Review all disclosures with you before you sign.
• Visit with your Escondido home mortgage lender to insure the loan is progressing.
• Make sure you remove all contingencies in the timeframes of the contract.
• Help solve any problems that may arrise during the escrow period on the Escondido houseby providing you with options as necessary.
• Conduct a final walkthrough with you within the last five days of the escrow period to make sure all items requested, if any, under the physical inspection have been completed.
• Make arrangements to get you the key upon closing.
• Answer any questions or provide any other information that you may need.

If you have any other questions not answered the the last 3 post about the Escondido real estate purchase process, call Gary Harmon, your top Escondido Realtor.

• Do provide your confidential financial and personal info to your trusted mortgage lender.  Gary Harmon, your Escondid0 Realtor, has been in the Escondido real estate business locally and can help you choose a trusted lender.
• Do always be totally honest when completing the Escondido home loan application.
• Do request and keep copies of everything you provide to the lenders and everything you are ask to sign.  If you feel uncomfortable, call Gary Harmon, your Escondido Realtor for advice.
• Do review the Good Faith Estimate of Closing Cost carefully.
• Do ask about any parties being paid if you are unfamiliar with their names.
• Do ask about any fees that you may not understand.
• Do lock in your interest rate as soon as you get a rate you like.
• Do read everything presented to you before you sign.  Don’t let anyone rush you.

Follow the do’s and don’ts of these last post for a better Escondido home loan experience.   For more information, call Gary Harmon, your Escondido Realtor.

HomeServices Lending

When you are in the market to buy Escondido real estate, the first thing you should do is to get pre-qualified with a lender.  I recommend HomeServices Lending and Charla Rueda at Bank of America.  During the process of buying your Escondido home and getting a loan here are some  “Don’ts” that can help avoid mortgage fraud.

When getting your Escondido home mortgage:

• Don’t provide false information about your job, income, credit or bank accounts.
• Don’t lend your credit info or social security # to anyone so they can take out a loan in your name.
• Don’t close on any loan on an Escondido house that has any false of misleading information.
• Don’t use appraisals that have incorrect or inflated values on the Escondido home.
• Don’t use down payment or earnest money that did not come from you.
• Don’t pay your good faith deposit to anyone except Gary Harmon, your Escondido Realtor or directly to the escrow company you are using for the Escondido home purchase.
• Don’t let anyone sign anything for you during the Escondido real estate purchase.
• Don’t expect to get “paid” for purchasing a home.  You will need to bring a certified check to escrow prior to closing on your Escondido property.
• Don’t pay anyone any additional fees or cost for the loan after it closes.  When in doubt, check with Gary Harmon, your Escondido Realtor.

The Do’s of mortgage fraud prevention tips will be listed in a p0st to follow.  For Escondido real estate information that you can trust, contact Gary Harmon, your top Escondido Realtor.