Probate is a scary word in real estate since it is not a majority sale type. Agents and Buyers have little experience with the ins and outs so the typical result is to avoid these types of sales. We’ve had the privilege this year to participate in 4 probate transactions and successful court approved closings so we have a little more confidence in the process and what is expected by the parties involved.
So what is probate? Probate is the legal process that results in a court validating someone’s will or determining that he or she died without one. The court, as part of the probate, will appoint someone to handle the bills of the deceased as well as his or her assets.
I’ve located an article that really drills down and explains some of the finer points here at
Overview of the California Probate Process Please keep in mind that laws are constantly changing. We strongly recommend that you seek legal counsel prior to making any decisions based on information provided by this blog.
If you find yourself or a family member in a situation where a probate sale may be necessary, please give us a call so that we can share our marketing strategies. Keep in mind that these type of sales are generally avoided so an excellent marketing strategy and good communication skills will make a huge difference in bridging the gap of understanding with the public resulting in a faster sale at a higher price.
Our primary areas of experience include Temecula, Murrieta, Menifee, Wildomar, Hemet, Winchester, French Valley and Lake Elsinore. We look forward to your call! April Greer at 951-522-0518 or email@example.com
The FHFA (Federal Housing Finance Agency) recently announced that conforming loan limits will remain at $417,000!
A quiet battle was waged within the industry after the announcement that they were considering reducing the loan limits. This would have made it more difficult for borrowers to obtain loans on properties in some areas. So this is great news. Here is an excerpt from the announcement by CAR( California Association of Realtors):
“C.A.R. applauds the FHFA for keeping with the law and retaining the existing Fannie Mae and Freddie Mac conforming loan limits. The FHFA recognizes that home prices have rebounded in California, especially in the high-cost areas, where lowering the loan limits would have reversed the housing recovery. Retaining the higher loan limits is critical to providing liquidity in today’s housing market and is essential to a full housing recovery.
Earlier this year, the FHFA announced its intention of lowering the loan limits. Since then, C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® (NAR) aggressively fought to prevent a reduction in the loan limits. C.A.R. and NAR both have long advocated for making higher conforming loan limits permanent, and as a result of our combined efforts, Congress made permanent the maximum conforming loan limits at $625,500.”
Need help with your Temecula Valley Real Estate? Contact us at 951-522-0518 or at firstname.lastname@example.org