Rick Smith
Associate Broker, COO
Office: (408) 615-1000 | Mobile: (408) 482-0539 | Fax: (408) 615-5795
Hello Neighbor,
Welcome to my website. I've gathered a wealth of information here to help you with all of your real estate needs – from all the latest property listings to great information for home sellers.
What happens to my
HELOC after a
Foreclosure?
Click here for details.
Foreclosure
With foreclosures increasing in number everyday, I want to take you through some issues that are very important to know if you are facing financial problems that make meeting your mortgage payments impossible. But first, there is one thing you must remember: It Is not your fault - everyone faces ups and downs and you are among many who are in this situation through no fault of their own. Yes, the prospect of losing your home can be frightening, but what is important is to make the best of the situation and be ready to put the past behind you and begin again, using the lessons you have learned to make sure that it does not happen in the future.
Visit my website ricksmithrealtor.com for more information. You can also contact me on (408) 615-1000 (Office) or (408) 482-0539 (Mobile).
Things You Need To
Know About Foreclosure
- Beware Of Foreclosure and Short Sales Scams
- Does Buying Another House When Faced With Foreclosure Make Sense?
- The Truth About Credit Repair Schemes
- Loan Modification Is Not A Miracle Solution
- Understanding The "Homeowner Affordability And Stability" Plan
There is An Option
To Foreclosure
Foreclosure is not the only option open to you. When a person reaches a stage where the amount owed is greater than the value of the home, a short sale may be the best way out.
Testimonials
"After interviewing three agents we elected to list our Los Altos home with Rick Smith...this decision was made due to Rick's experience in multiple offer situations, his knowledge of relocation issues, negotiating skills and continuing education...negotiations and close of escrow all went smoothly...we recommend Rick for a thorough, competent listing agent."
- Carig Johnson, Marlene Williamson, Los Altos
"It has been my pleasure to work with Rick Smith on my recent real estate transactions... Over the years that I have been involved in buying and selling numerous properties, I have learned the value of selecting a Realtor carefully... I was immediately reassured by Rick's knowledge of the market and his sales and marketing experience...It was Rick's skill and his willingness to expend extra effort that caused me to recommend him to friends who were having a difficult time selling their home. Thanks to Rick, their home was also sold successfully. Rick Smith is an agent you can depend on."
- Pamela Whitmore, Saratoga
"Rick, I appreciated your work on my four plex on Hamilton Ave. I have owned many buildings over the years and worked with many realtors, however you stand out in a good way. Don't hesitate to use me as a reference for anyone else you may do business with. You did a fine job for me and I don't mind saying so."
- Walter Howard, Capitola
More Testimonials...
Tax Implications
of Foreclosure
& Short Sales
Homeowners who lose their homes to foreclosure or successfully execute Short Sales often think that when the property is finally gone and out of their names, the nightmare is finally over. Often that is the case, but there are possible Tax Ramifications involved anytime a property changes hands.
The IRS and FTB (California Franchise Tax Board) can be owed taxes as a result of foreclosure or short sale. Here are links that help explain what happens after the sale, why a tax may be due and ways that the tax may be forgiven or cancelled.
Always consult a Tax Professional about taxes and matters involving the IRS or FTB.
1. The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
2. Reduction of Tax Attributes Due to Discharge of Indebtedness (IRS Form 982, Insolvency)
3. California State Income tax on foreclosures?
Virtual Tour of |
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$639,950 2266 Stratford SAN JOSE, CA |
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$449,950 5675 Tonopah Dr. SAN JOSE, CA |
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$529,000 691 Cree Dr. SAN JOSE, CA |
About Rick Smith
Rick Smith has been a driving force in the Real Estate industry for over twenty years, and has an additional eight years experience in Marketing and Advertising.
From 1977 to 1980 Rick was a Partner in Zander & Smith, a Marketing, Advertising & Sales Company. He went on to establish R.C. Smith Co. in 1980, a Sales & Marketing Company in California, Nevada, Washington and Texas, and managed it through 1985.
In 1986 Rick joined ARC Realtors, and in 1988 he moved to Grubb & Ellis, where he served as Chairman of their Senior Marketing Consultants Board. At Grubb & Ellis, Rick won numerous sales awards, including the "Listing Agent of the Year" at his Saratoga office.
In 1993 Rick moved on to Prudential California Realty, serving as the Sales Manager at the Saratoga office, and from 1993 through 1996, his sales performance put him in the top 3% of all Prudential Agents Nationwide, and in the top 1% Nationally in 1997. Rick garnered other sales awards while at Prudential including, once again, the "Listing Agent of the Year" in 1996.
1998 brought about a change for Rick Smith when he and Myron Von Raesfeld co-established ClickHome, Inc., where he currently serves as the Chief Operating Officer and serves his clients as an outstanding Realtor.
With his wealth of knowledge and integrity, he is the perfect Realtor to have by your side - whether buying or selling; his experience is vital and makes for a pleasant and smooth transaction.
Rick has lived in the Bay Area all of his life and can help you with the ins and outs of one of the most interesting Real Estate Markets in the Nation.
Rick and his wife (Sandy) currently reside in Los Gatos. They have two daughters, both college graduates. When not working with his clients Rick enjoys hiking, skiing and spending time with his family.
- Member, National Association of Realtors
- Member, California Association of Realtors
- Member, Santa Clara Valley Exchange Association
- Certified Probate Specialist
- Specializing in Residential Purchases, Sales & Tax Deferred Exchanges
- Specialist in Short Sales
Short Sale
In the simplest terms a short sale is the sale of a property that is worth less than what the home owner owes. Under these conditions a lender may agree to a sale that will realize less than the amount owed to them. In other words, if you owe $500,000, the lenders may agree to a sale for $400,000 and when that happens, your debts are cleared. Of course, there are many legal and financial issues involved and you need to be sure of what you are getting into before you opt for the short sale route.
Expert Short Sale Advice
One of the most frightening statistics today is that 90% of all home owners who try for a short sale end up losing their homes to foreclosure. The simple truth is that short selling is far more complex than it sounds and most agents are just not experienced enough and lack the skills to be able to make a success of it. Realtors who are trying to help home owners faced with foreclosure often do more harm than good because they do not even know how to negotiate with the lenders, whose interests are different from that of the home owner.
Why I Can Help
My track record speaks for itself. I have negotiated with banks and have gotten the best short sales deal for my clients. Ask any agent to show you the approval letters he has obtained from banks for short sales - few, if any, will be able to. I can show you many.
My team and I are ready to work with you on any kind of property transaction, including getting you the best short sales deals you will find. Contact me and lets work together to close the kind of property transaction that is in your best interests:
Office: (408) 615-1000
Mobile: (408) 482-0539
Fax: (408) 615-5795
rick@clickhomerealty.com
www.ricksmithrealtor.com
Testimonials
Seller Information
The process of selling your home can be stressful and challenging. Educating yourself and working with a great agent are the best ways to ensure that your home selling process will be as smooth as possible.
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More online information on the home selling process.
Preview Properties Already on the Market
As you prepare your home for sale, it is important to understand what homes are currently on the market and how comparable properties are priced.
Seminars on Foreclosure, Short Sale and Real Estate
| First Time Buyer Seminar at Synopsys | Short Sale Class at Net IQ |
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| Short Sale Class at Synopsys | Real Estate Seminar at Aradigm |
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| Short Sales & Foreclosures at Vishay Siliconix | |
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