San Fernando
 
[by Jason Ian Hector, REALTOR®, Real Estate Broker | 11/10/2015)]
 
The City of San Fernando (zip code 91340) is completely surrounded by the city of Los Angeles district.  San Fernando was named for the nearby Mission San Fernando Rey de Espana and was part of the Mexican land grant.  San Fernando will likely see more short sales to come mainly because of the continuing weakness in the job market and overall effects on the economy. I would anticipate another 8 to 10 years of this type of real estate market. The main problem is that incomes have dropped for many employees and business owners which has put a strain on spending and mortgage payments have remained the same or are sometimes increasing. As homeowners begin to have more difficulties affording the terms of their loans, they will be faced to look at alternatives to foreclosure like loan modification and short sales.

A short sale can be a very emotional situation for homeowners who are sentimentally attached to their home. Just the concept of selling they cannot handle and a short sale will be impossible if the seller doesn’t cooperative with the showings, paperwork, etc. A short sale can help homeowners move on from a bad situation and want to begin to rebuild for the future. Coming to grips with the reality of dealing with an over-encumbered property is very difficult. Also, understanding how your credit is affected by short sale vs. foreclosure will help you understand why short sale is a reasonable alternative. The quicker the loans can be worked out, the sooner the rebuilding process begins. Being able to more on is much easier with the US Treasury Departments HAFA program.
 
[by Jason Ian Hector, REALTOR® and Short Sale Specialist]