Have a Question Regarding Temecula Real Estate, Temecula Homes for Sale or
 want a List of Bank Owned Homes. Easily, one click searches show all up to the minute Bank Owned Homes

Do You Speak "Bank Owned"?
Bank owned real estate properties are a great opportunity to buy a bank owned home directly from the lender, usually at a great price.

"Bank owned" means that the bank or lender now owns that property. Each bank works a little differently, but they all have pretty similar goals. They usually want to get the best price possible and close quickly. They almost always sell a home in "as is" condition. This doesn't mean that all bank owned properties are run down dumps!

You need to work with an agent that is familar with how the banks work and what they require so that you can get the best deal possible. 

So you want to buy a Bank Owned Home? Good choice! But as you get started looking for  purchasing that home, be careful. With all the news headlines and media attention on the foreclosure market, there is a lot of bad advice out there. A lot.  Here are some of the biggest misconceptions I hear from buyers:

Myth #1: Banks will accept offers for "Pennies on the dollar."
Fact: If you've been up late at night watching television, I know you've seen those infomercials claiming that banks are "Giving away their properties." They're not. If you're planning on buying a Bank Owned Home, it's important to know that before a bank puts a home on the market, they've had at least two professional real estate agents  give them a detailed analysis of the home and its value and had an appraisal completed. The bank knows the homes condition and what it will sell for. 
Nationwide, the average Bank Owned Home sells for 15% under its current market value. Keep in mind that is not 15% below its list price. 

Myth #2: All Bank Owned Homes are "Trashed."
Fact: While many Bank Owned homes need a little TLC (sometimes a lot of TLC), many are in good condition. Make sure you take the condition of the home in account when you're making an offer. No matter how bad you think the market is, Bank Owned Homes in Good condition sell for higher prices and usually very quickly. Don't be surprised if you get into a bidding war. 

Myth #3: All Bank Owned Homes are a Bargain.
Fact: You have to be careful when your buying a Bank Owned Home. Sure, banks are motivated to get rid of a home as fast as possible, but they also want as much money as they can get for it. You need to make sure that you have :1) An agent who can give you solid comparables and a detailed analysis of each home's value and 2) A realtor who can give you complete, accurate bids on repair work. 

Myth #4: "My friend's uncle bought a Bank Owned Home and sold it the next day for an $80,000 profit."
Fact: No he didn't. Whether it's your friend's uncle or a guy you talk to at the gym who "knew a guy,"  it didn't happen. Can you make money buying and selling Bank Owned Homes? Absolutely! But it requires hard work, wise decision making and strong advice from a professional Realtor. There are a lot of good deals out there, but don't try and do it alone. 
 
Remember Bank Owned Homes  can be a great investment. Just remember as you begin your home search that Bank Owned Homes have their own unique set of problems and you better make sure you have an experienced Real Estate Professional behind you.

Email Natalie or phone her directly at (951) 694-1221 ext. 250

Behind in Your Mortgage Payments? Don't Accept Foreclosure!

Need to sell your home but don't have enough equity"? This is called a "short sale".
A "short sale" is a special transaction that allows you to sell your home even when your mortgage is higher than the value of your home.

I am a professionally trained real estate agent that has been specifically trained on how to negotiate a settlement with your current lenders so that you can sell the property and get out from under this burden. Best of all, my commission will be paid by the bank, so you won't have any out of pocket expenses. A "short sale" will help you:
Avoid foreclosure
Protect Credit Score from "foreclosure" ding

If you are ready to sell your home and free yourself from this debt, call me today  for a free consultation. "Short Sales" require a trained professional for a succesful transaction, so call me today to help you find a solution! 

Temecula Homes For Sale

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In Temecula, the median price of a home climbed nearly 30 percent from $347,000 in 2004 to $450,000 in 2005.  Prices for single family homes for sale start in the high $300,000's. Condo's and townhomes start in the high $200,000's. Hard to find Homes for sale in Temecula from $300,000 to $400,000. This is the hottest home price range of homes for sale in Temecula Ca with the most home buyers looking for a home. 

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"Congratulations to Century 21 Wright on achieving the 2006 Centurion office award.  This is an impressive accomplishment, one that recognizes your hard work and dedication to your customers, your community, and the CENTURY 21 System." Thomas Kunz, President & CEO

Century 21 Wright has achieved the 2006 CENTURION Office Production Award  which is a symbol of excellence earned by only an elite group of CENTURY 21 offices and places them in the Top 1% of all CENTURY 21 offices worldwide. Natalie Tagle is a proud member of the CENTURY 21 Wright Team.  Natalie Tagle is a  full-time Realtor with Century 21 Wright with extensive experience in residential, land, manufactured and income property sales.  Century 21 Wright is a leader in sales for the Inland Empire.