New Homes For Sale List From 05/29/2012 to today

This weekly market update post encompasses 190 new listings  residential listings in all price ranges, from single family to condos, and land, in these areas of Beverly Hillls, Bel Air, Brentwood, Calabasas, http://www.jhmbusinessservices.com/Venice, Marina Del Rey, Pacific Palisades, West Hollywood, Woodland Hills, Santa Monica, Playa Del Rey and more.

JHM Business Services is a full service brokerage firm specializing in Homes Sales and Asset Management.  Our firm can assist you in selling your current home or your investment property from a raw land to multi-housing projects. We also specialize on property and asset management.

Give us a call at 818-877-2085 and discover how we can save you thousands of dollars in fees and help you sell or lease your home

Click Here for new home for sales inventory: inventory update from 05/14/12 to today

Jeny Milosevic
Broker/Realtor

JHM Business Services

Lic. 01759329

http://www.jhmbusinessservices.com/

When It is The Time To Buy

Dear Friend:

Buying a home for the first time is a major decision that requires planning and preparation. Becoming a homeowner is an exciting process with many complexities that real estate agents are trained to manage.

We are experienced in working with first-time buyers and are well-versed in the creative financing that can make dreams become realities. For those who are low on cash, there may be a mortgage assistance program to help you purchase a home with limited funds. Your real estate agent is familiar with these programs, which have variable guidelines. There are many financing options available in today's marketplace. A little creativity can help you enjoy the freedom and security of owning your own home and building up equity as your property increases in value.

Jeny Milosevic

Realtor/Broker

JHM Business Services

http://www.jhmbusinessservices.com/

Happy Thanksgiving

To all my friends:

During this powerful season of thanks, we wanted to take a moment to say THANK YOU for making JHM Business Services a part of your business! We're thrilled and honored to be a great resource to all our sellers and buyers.

So from us to you: We wish you a very happy and safe holiday, tremendous abundance and a year ahead filled with realized goals.

Happy Holidays!

Warmly, 

JHM Business Services and Jeny Milosevic

Mortgage aid open to more Calif. borrowers

The state-run program, “Keep Your Home California,” which helps homeowners struggling to pay their mortgages now has broader eligibility guidelines.  Borrowers who did “cash-out” refinances and own multiple properties now are eligible for the program, according to California Housnig Finance Agency officials.

Making sense of the story

·         To date, Keep Your Home California has helped approximately 8,000 low- and moderate-income households that are behind on loan payments or close to default.

·         There are four parts to the program: Mortgage help for the unemployed, mortgage aid for homeowners with documented financial hardship, relocation help for those in the midst of a short sale or deed-in-lieu of foreclosure, and reduction of principal.

·         Homeowners who completed “cash-out” mortgage refinancing now are allowed to take part in the four programs outlined above, and borrowers who own more than one property also can apply for the program.  Previously, these two groups of borrowers were excluded from participation.

·         Mortgage aid to unemployed borrowers also has been extended to nine months, instead of six.  Such homeowners can receive up to $3,000 a month.  To qualify, borrowers must be receiving unemployment benefits.

·         Additionally, the program has reinstated up to $20,000 in past-due mortgage payments instead of the previous $15,000 cap.

·         To review qualification guidelines, visit www.KeepYourHomeCalifornia.org or www.ConservaTuCasaCalifornia.org.

What Is a Short Sale?

A short sale is discussed if the home owner is facing financial hardship and is therefore unable to make payments on the home loan. In the event that the bank or mortgage lender agrees to it, a short sale is an alternative solution when foreclosure is looming. “Short sale” literally translates to selling a piece of real estate just short of the remaining balance of the loan. Because the homeowner finds him or herself in a position where paying the loan just isn’t feasible, the lender will then discount the balance of the loan and the home owner will sell the property and forfeit all of the proceeds to the lender. By doing this, the lender concedes that selling the property at a loss is a better option than continuing to pursue the borrower.

There are four conditions of a short sale:

1. The home’s market value is down. This means that the home is worth less than the remaining balance on the home loan. Another way to say this is by saying that the home is "underwater".
2. The mortgage is in default or heading that way. A mortgage default occurs when the borrower stops making payments on the loan. At that point, the lender can seize the property from the borrower.
3. The home owner encounters hardship like divorce, death or serious illness, unemployment, bankruptcy, etcetera. It is important to note that personal lifestyle choices that cause financial strain are not considered.
4. The home owner has no assets. If the homeowner had assets, he or she could use these to make payments on the loan.

How do you know if you qualify for a short sale?
Whether or not a home seller can go through with a short sale ultimately depends on his or her bank or mortgage lender. They have to agree to the short sale process in order for it to come to pass. If the seller’s situation does not line up with the aforementioned four points, he or she may not qualify to sell their home on a short sale.
Any buyer can put an offer in on a home up for short sale so long as they are able to qualify for a loan. It is, however, up to the lender whether or not an offer will be accepted on the property.

Trick or Treat!!

Happy Halloween to All:

Los Angeles and the City of West Hollywood is famous for it's halloween parade. A full night of festivities, live concerts, food, drinks and a lot of fun...

The largest Halloween street party in the world happens in West Hollywood, located in the Los Angeles County Region. Each year, more than 500,000 people take to the streets of Santa Monica Boulevard to enjoy the craziest, most eccentric costume creations ever. The big draws of the evening are the Halloween Costume Contest and crowning of an Honorary "Queen of the Carnaval." Visitors can also expect fantastic live entertainment, food vendors, pumpkin-carving contests and children’s activities throughout the week previous. Admission is free and the event starts at 6 PM and runs until 11 PM.

HARP Refinance Program Expanded

Borrowers who are current on their home loans may be able to refinance for lower interest rates, even if they are seriously upside down.  The Federal Housing Finance Agency (FHFA) announced today that it will broaden the scope of the Home Affordable Refinance Program (HARP) by removing the current 125 percent loan-to-value cap for fixed-rate mortgages backed by Fannie Mae and Freddie Mac.  Other program enhancements include, among other things, reducing certain fees, eliminating the need for a new property appraisal if the FHFA has a reliable automated valuation model (AVM) estimate, and extending HARP until the end of 2013.  New federal guidelines for the HARP changes should be released to mortgage lenders and servicers by November 15.

The basic eligibility requirements for an enhanced HARP loan are as follows:

• Existing mortgage loan must be owned or guaranteed by Fannie Mae or Freddie Mac.  To check whether a borrower has a Fannie Mae or Freddie Mac loan, go to http://www2.realtoractioncenter.com/site/R?i=DMMZUtkne7wjXGC790nxGw.
• Existing mortgage loan must have been sold to Fannie Mae or Freddie Mac before June 1, 2009.
• Existing mortgage loan cannot have been refinanced under HARP previously (except for Fannie Mae loans refinanced between March and May 2009).
• Current loan-to-value (LTV) ratio must be more than 80%.
• Existing mortgage loan must be current, with no late payments in the past six months, and no more than one late payment in the past 12 months.

More information is available from FHFA at http://www2.realtoractioncenter.com/site/R?i=oOg4yGd11qn4_kN5Vn3eGQ.