Steele V. Propp
  • Male
  • Minneapolis, MN
  • United States
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Steele V. Propp's Friends

  • Karin Cannon
  • Mark Smith  CDPE  SFR
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  • Michele Blinn-Barreiro
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  • Jennie Blackburn, Realtor, CDPE,
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  • Eric Keith Cole
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  • Jennifer Young
  • Sharre DaCosta, CDPE, GRI, SFR
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Steele V. Propp's Discussions

Short Sale Designation battle begins...

Started this discussion. Last reply by Steele V. Propp May 23, 2010. 2 Replies

Big news on the designation front. It seems Harris University is being sued by the Distressed Property Institute for copyright infringement.…Continue

Citi is testing new Deed in Lieu program. What are your thoughts?

Started this discussion. Last reply by Loree Nichols Feb 28, 2010. 8 Replies

Citibank is announcing a new program in which it will offer defaulting sellers six months in the property in exchange for the deed. Read the article and details here: …Continue

Education programs/Certifications for short sales. Who do you like best? Who is a waste of time?

Started this discussion. Last reply by Alysha Munoz Jun 29, 2012. 19 Replies

While the are a ton of ed sites on short sales and designations are being created out of thin air every day (or so it seems), let's share our insights and experiences. Four of the better known out…Continue


Steele V. Propp's Page

Latest Activity

Steele V. Propp and Karin Cannon are now friends
Dec 3, 2012
Steele V. Propp replied to Kelsey Thomson's discussion Is it unethical?
"Think you are still dancing on this one.  I think you know where that $3200 (or a portion) is going.  On the advise of an attorney, of course.  Doesn't make it any more ethical in my humble opinion.  But then again…"
Dec 3, 2012
Steele V. Propp replied to Tony Morales's discussion Wells Fargo dictating commission split
"The reasoning is that they are not "limiting" the listing agent as much as making things equal for the buyer's agent.If you need the .5% that badly you can always collect it from the seller.  Not trying to be mean but it's…"
Sep 15, 2012
Steele V. Propp replied to Lonnie Workman's discussion Form 4506-T in the group Bank of America Short Sales
"As said,the client fills out the form and signs and dates it.  It is part of any lender package including short sales.   Understand that it will probably never be used.  However, should a file be picked for a random audit, they could…"
Jul 3, 2012
Steele V. Propp replied to Lori Young's discussion BOA Declined file in CLOSING states buyer ineligible to purchase in the group Bank of America Short Sales
"A number of the banks are getting burned by trusts that are set up to funnel the property to another buyer for a profit.  This might have something to do with new policies in that regard."
Apr 28, 2012
Steele V. Propp replied to Mike Linkenauger's discussion Our Association requires ALL offers be submitted to lenders
"Have to agree with you 100%.  Another association who doesn't understand that the lender is not a party to the transaction."
Apr 14, 2012
Steele V. Propp replied to Sara Mehrpouyan Los Angeles CDPE's discussion Postpone Foreclosure on Property When Lender Could Be Paid In Full ?
"Lenders are not stupid.  Most will gladly postpone if you can show them a reason why.  In most cases it won't even be a fight."
Mar 24, 2012
Steele V. Propp replied to Steven Pawera's discussion 'New' Mandatory Bank of America 3rd Party Authorization in the group Bank of America Short Sales
"Got the official notice from BOA yesterday."
Mar 21, 2012
Steele V. Propp commented on Kathryn Lovell's blog post Housing Crisis to End in 2012? Standards-It might just be time to buy!
"Just saw another study that this would not be back on track until 2015.   The fact is no one can predict this.  IMHO   Steele"
Jan 27, 2012
Steele V. Propp replied to Cindy Billman, CDPE, SFR's discussion Wells Fargo Info Just Received in the group Wells Fargo Short Sales
"Yes, congrats on the closing.  You stuck with this even though it seemed to take forever.   Steele"
Nov 4, 2011
Steele V. Propp updated their profile
Nov 4, 2011
Steele V. Propp replied to Kenneth J. Ruffo's discussion Straight to Foreclosure in the group Wells Fargo Short Sales
"She needs to open a dialog with the lender immediately and find out just what stage things are at.  Foreclosure these days is a lengthy process so there is probably at least a couple of months (or more) before the house could be taken…"
Jul 23, 2011
Steele V. Propp commented on Chris B Johnson CDPE,SFR,HAFA's blog post Must Read Article!! Exposing Fallacies in the CoreLogic Suspicious Short Sale Report
"Understand where you are coming from but there was an excellent point made in this article.  A short sale transaction is typically worth less than a market sale.  An investor who takes the time, money and effort to bring a property out of…"
Jun 10, 2011
Steele V. Propp commented on Chris B Johnson CDPE,SFR,HAFA's blog post Must Read Article!! Exposing Fallacies in the CoreLogic Suspicious Short Sale Report
"Well written article.  Have thought myself that a presumption of guilt without looking at all angles of such transactions is wrong."
Jun 10, 2011
Steele V. Propp replied to Azmi Alkurd's discussion BoA Short Sale Dual Agency
"I didn't miss the point.  Dual agency in common law does flow through the brokerage and this is what BOA is getting at.  One may not like it but that is the way it is.  And yes, they and others use an in-house transaction to cut…"
May 31, 2011
Steele V. Propp replied to Azmi Alkurd's discussion BoA Short Sale Dual Agency
"Contrary to the comment beforehand, it is not illegal for a seller to say that they will not accept dual ageny.  It is perfectly legal.  What would be illegal (breaking a contract) would be for an agent to say that they won't and does…"
May 31, 2011

Profile Information

Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Twin City metro area of Minnesota. Full seven county metro coverage: Hennepin, Ramsey, Anoka, Carver, Dakota, Scott and Washington as well as portions of Sherburne and Wright counties.

Short Sale Designations and/or Special Training
CDPE (Certified Distressed Property Expert), Equator Certified, HRC (Home Retention Consultant)
Short Sale Transactions Completed
Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
I have had some commericial experience primarily with smaller apartment buildings and mixed commerical/residential properties. I normally close between one and two million in commercial type sales a year.
About Me/Profile of yourself: - Please add your Brokerage Company name also!
Over 25 years in real estate. Specialize in foreclosures, all phases. Last 7 years have worked exclusively with foreclosures, REOs and short sales. Extensive lender contacts and experience. I head up the Distressed Property Division of Home Avenue Real Estate dealing with both residential and commercial properties. We handle all phases of the foreclosure process from initial occupany checks, cash for keys, BPOs, working with eviction attorneys. to marketing, sale and closing of our property inventory. Servicers available for trashouts, lawn maintenance and snow removal as well as repairs as authorized. Full service Short Sale and REO Department.
Put in todays date! This is to help stop spammers!
November 4, 2011
PLEASE READ THIS!!! - This site is primarily for Realtors, REAL buyers or sellers with questions are welcome to ask, anyone here for other purposes may be banned. 1. Because this site is primarily for agents agents, Any soliciting is pointless and is not allowed. Please do not sell or promote products or services in any way, directly or indirectly. Do not link or sneak in links promoting your services on comments, posts, discussions or blogs. You may have links on your profile pages to your websites as long as your are not selling things other than real estate! Again, absolutely no outgoing links to your websites, blogs or listings 2. Do not speak disparagingly about members on this site. This community is meant to be helpful, and we are here to help each other. 3. We reserve the right to delete content and/or ban members that violate these rules. 4. Member Name (Full Name Field) format must be FIRST NAME, then LAST NAME! Please no company names, DESIGNATIONS, or website in the name field! Please read the terms of service under the "home" tab! IF YOU AGREE TO THESE TERMS, PLEASE TYPE "I AGREE" IN THE BOX BELOW!! Thanks for your cooperation, and welcome to the Network!
I agree

Steele V. Propp's Blog

HAMP redefault rates projected as going up

Posted on June 17, 2010 at 8:50am 1 Comment

This just in from DSNews:…

FTC wants to eliminate up front fees on loan mods

Posted on February 8, 2010 at 1:15pm 1 Comment

FTC says no more upfront loan modification fees

The Federal Trade Commission has proposed a new rule that would prohibit third parties, including loan modification specialists and loss mitigation attorneys, from collecting payment for foreclosure prevention services until after they obtain a documented offer from a lender or servicer for a modification or other form of mortgage relief. “Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend…


Comment Wall (23 comments)

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Join Short Sale Specialist Network

At 10:44pm on November 20, 2010, Eric Keith Cole said…
I am affiliated with Central Kentucky's #1 Real Estate Company, Rector Hayden Realtors. Rector Hayden Realtors has resources, available to me, to advertise and sell properties. I am solid on my knowledge and experience with Short Sales, Commissioner Sales, Foreclosures and REO’s.
At 11:31pm on August 03, 2010, Mike Linkenauger gave Steele V. Propp a gift
At 9:08am on May 18, 2010, Cora T. gave Steele V. Propp a gift
thank you for your supportive comment
At 9:45pm on May 7, 2010, Mike Linkenauger said…
Happy Birthday Steele!
At 9:45pm on May 07, 2010, Mike Linkenauger gave Steele V. Propp a gift
At 2:44pm on May 7, 2010, JP Ott said…
Happy birthday!
At 11:28am on April 26, 2010, Jeffrey Mishkin said…
Greetings to you Steve. Thanks for reaching out. Continued success to you and let's work to grow our respective businesses.
At 2:18pm on April 24, 2010, Ann-Margaret Bolton said…
Thank you! Looks like a lot of good information.
At 12:15pm on April 6, 2010, Jennifer Young said…
Hi Steve - Thanks for the welcome...I believe I've seen your posts on LinkedIn as well...always great info.
At 10:03am on March 26, 2010, Darrell Clarke said…
Thank you and I need to continue to update my profile.




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