Toni Patillo – Santa Monica and Palisades Real Estate Agent

Blog

Good News for Bargain hunters!

Foreclosures continue to drive down home prices in hard-hit states like Michigan, but according to the auction company Hudson & Marshall of Texas, this is good news for buyers and investors looking for bargains on homes.

On Tuesday, Hudson & Marshall announced that it will auction more than 200 foreclosed homes in cities throughout Michigan from March 16 through March 20. The homes are valued from as little as $3,000 to more than $200,000, and all come with an insurable title and no back taxes or liens.

“In...

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AMERICAN RED CROSS




With the recent disasters in Haiti and Chile, the American Red Cross continues to lead the pack in disaster relief. I highly recommend taking time and donating to this great organization. Your gift to the...

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Short Sales See Big Jump in Activity

Despite having a bad wrap for often being slow and problematic (well at least for those who don’t use LA City Short Sales), short sales are quickly becoming a preferred method to dispose of distressed properties and avoid foreclosure.

According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions, short sales accounted for a substantial 15.9 percent of home purchase transactions in January. This was well above the share of other distressed property activity – with damaged REO accounting for 13.4 percent...

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2010 Winter Olympics Opening

The 2010 Winter Olympics opened this weekend in Vancouver, BC. with a beautiful ceremony that celebrated Canada‘s diverse and easy going nature. There was even a bit of improvisation when there was a technical malfunction with the 4th leg of the cauldron. While awkward for a bit the 4 athletes handled the moment swimmingly as if it was all part of the plan.
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DSNews: House Committee to Investigate Obama’s Modification Program

The House Committee on Oversight and Government Reform has launched an official investigation into the federal government’s foreclosure prevention program.

According to a statement from the head of the committee, the probe was triggered by complaints that servicers have been slow and inconsistent in modifying loans under the Making Home Affordable (MHA) program, and are not communicating clearly with eligible homeowners.

Chairman Ed Towns (D-New York) says he’s a strong proponent of efforts to ease the burden on struggling homeowners but has received “concerning information” that the...

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Synopsis: LA City Short Sales


Our Mission

LA City Short Sales, a division of Toni Patillo & Associates, is dedicated to assisting distressed homeowners nationwide by identifying and implementing the best available loss mitigation option to prevent foreclosure.

Following a thorough analysis of each situation by our specialist, we work with homeowners and their lenders to come up with the appropriate loss mitigation solution, whether it is reinstating the mortgage, a forbearance agreement, a loan modification, a repayment plan, a deed in lieu of foreclosure, or a short sale agreement. LA...

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DSNews: Real Estate Market Trasitions Into ‘New Normal’


As the real estate market begins to recover, new research from the Urban Land Institute (ULI), a nonprofit education and research institute, says the “old normal” will not be returning.

According to Housing in America: The Next Decade, a new research paper authored by John K. McIlwain, senior resident fellow of ULI, emerging trends in demographics and consumer behavior will become major drivers of new housing opportunities, resulting in a residential market vastly different from the one that existed prior to the recession.
“The...

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Pending Sales Leveling

Following a market swing driven by response to the homebuyer tax credit, pending home sales in December have leveled off, according to a report Tuesday by the National Association of Realtors (NAR).

In November, the Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed during the month, fell to 95.6, a 16.4 percent decrease from surging activity in preceding months due to the anticipated expiration of the homebuyer tax credit. Following the extension and expansion of the credit, though, the Read more