Randy Fox

I would be more than happy to look into this for you if you can provide me with the address; the address is not showing in your post. Take care, Randy

Rosalinda, water shares are transferred from seller to buyer when water shares are attached to the property. This allows the new buyer to have rights to the water; not transferring the shares while in escrow will cost thousands of dollars after the fact. The tranfer of water shares should be a one-time fee, transferred when the sale is in escrow; you should not have to pay $600 per month for the water shares. Paying for the transfer of water shares can be negotiated between seller and buyer. I am very familiar with water shares as some properties in Yucaipa and Calimesa have water shares; checking to see if a property has water shares should be standard operating procedure for Realtors when listing or buying any property.

I just came across this question; I apologize for being a bit late on answering, but in case you're still searching for answers: Contact BofA directly and apply for a loan modification ASAP if you haven't already done so. Loan mods can not only reduce your payments by reducing interest; they can also possibly reduce your principle, as well as move your missed payments to the back of the loan (this is called forebearance). Loan mods are typically for those who are upside down on their loan and owe more on their home than what it's worth; should you not find yourself in that situation you may need to find other alternatives. Above all else, NEVER pay anyone to do the loan mod for you; you can do it yourself by contacting the bank directly. You can probably even go onto the BofA website and download a loan modification package directly from the site. There are may scams out there attempting to take advantage of unsuspecting home owners so BEWARE! Feel free to contact me should you have any additional questions or concerns. Take care and good luck! Randy

Heather, each circumstance and situation is different; I would advise you to contact a mortgage lender/broker and explain your situation. Per a document found on the HUD/FHA website: "Borrowers in default on their mortgage at the time of the short sale (or pre-foreclosure sale) are not eligible for a new FHA-insured mortgage for three years from the date of the pre-foreclosure sale. Lenders may make exceptions to this rule under certain circumstances." Make note of that last sentence: "LENDERS MAY MAKE EXCEPTIONS TO THIS RULE UNDER CERTAIN CIRCUMSTANCES". Feel free to contact me should you have any additional questions or need any help; I have a wonderful lender who can give you the straight-up on your situation. Take care and good luck! Randy

Dwoynne, nothing is showing as being active in the MLS regarding the property at 34527 Morris St. in Beaumont. Feel free to contact me if there's anything I can help you with. Take care, Randy

Hi Isabel, I am very familiar with the Running Springs area and would be more than happy to answer any questions you have. Feel free to contact me; I will also send you an email to the email address you provided. Take care, Randy

Marissa,this is a short sale; in the history of the listing in the MLS it shows the status was changed from Active to Hold on 12/19/12. Per the Agent Remarks section in the MLS multiple offers were received. Many short sale listing agents keep their listings active even after the seller has accepted an offer and the listing agent has submitted the accepted offer to the seller's lender to initiate the approval process. They do this as a ploy in order to keep actively marketing the property to prospective buyers with the hope of being able to secure more buyers to find other properties for them. I, for one, do not subscribe to this tactic; I always change the status of my listings to either Back Up or Pending once an offer has been accepted by my sellers - whether it's a standard, short sale or bank owned listing. In the case of the property you submitted a back up offer on, the listing agent changed the status of the listing to Hold due to receiving numerous offers on the property (due to a lack of inventory and an over-supply of buyers in the Yucaipa area) and she does not want any more showings or offers at this time. Also, per the listing the sellers are preferring to have an investor purchase the property in order to rent back the property to the sellers. Keep in mind that writing a back up offer does not hold you to anything and you can keep looking for and writing offers on other properties. Another thing to keep in mind when writing offers on short sales is to offer fair market value; banks typically sell their short sales at prices based on fair market value (which is based on comps {comparables properties} that have sold in the subject's neighborhood within the past 3-6 months). Listing agents can list short sales for whatever list price they want; it's the bank that dictates the sales price. Typically short sales are under-listed; rule of thumb to go by is that if it looks too good to be true, it's probably a short sale. Make sure your agent comps out the property and base your offer on fair market value. Especially in this market; offers lower than fair market value will not fly and you will only find yourself disappointed and frustrated in the fact that your offer was not accepted. There are many nuances involved in the stratagy of writing offers. Should you have any other questions or concerns feel free to contact me. Thank you Marissa, take care and good luck! Randy