January 2010 Blog Posts (23)

The Credit Collapse-What went wrong, and how it pertains to Short Sales

The term "short sale" has been tossed around the media a lot lately, and many homeowners are confused as to what it means, and whether it can apply to them. As a former lending executive and Licensed Realtor who is a short sale expert, my goal is to educate homeowners so that they may make the right selling decision for whatever their personal financial situation is. Many people make the mistake of believing that short sales are a real estate issue, but this is not true. Short sales are a… Continue

Added by Joseph C. Alfe on January 28, 2010 at 3:30pm — 2 Comments

former counselor

I'm a former foreclosure counselore with a HUD funded non-profit group. I've heard agents say things to their clients like "it's standard practice" or "they always give you 30 days to close once they give you written approval" Not the case. There is nothing standard about short sales. Every loan is different becaue every investor is different, even loans within the same company. The loan could have been sold to an invetor the same day it closed escrow, but payments didn't change. They don't… Continue

Added by Lynell Johnson on January 26, 2010 at 5:53pm — 2 Comments

Has The Market Stabilized? When Will It?

That's a question we hear frequently.

Has the Real Estate Market Stabilized?



Through The Short Sale Specialist Network, we are in communication on a daily basis with some of the top agents around the country. This questions seems to be something we hear all to often. "When is the Real Estate Market Going to Stabilize"?

How do YOU answer this questions? If I had a…

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Added by Mike Linkenauger on January 23, 2010 at 9:30pm — 1 Comment

Short Sale as an oximoron

HI

I have a "short" sale in escrow but can't get anywhere with the first. (2 lenders). I have been bounced around, transfered to different people and the buyer is about to loose patience (which I have conveyed). Any suggestions?
Stephanie

Added by Stephanie Ahlberg on January 21, 2010 at 10:07pm — 5 Comments

Short Sales and Investors

Does anyone use investors to purchase short sale properties? I have an investor that likes to submit offers on properties. How is it working for you? With the new FHA flip rule, I think this is an awesome opportunity for short sales. What language do you use in the Sales Contract?

Added by Amy Pierce on January 21, 2010 at 9:38am — 14 Comments

OCwen Short Sale

I have a short sale transaction with Ocwen Bank, they have been the most difficult to work with. They placed a sale date on the property and are not willing to work with the offers I have submitted, they want $20k over the offers I've sent in; theirs no way i will get a buyer over the valued price of the home. I've spoken to managers, supervisors; they all give me the same speech, "we do not post pone sale dates, and wait for agents to sell the home." I'm out of ideas!

Added by Jackie J. on January 20, 2010 at 12:59pm — 5 Comments

Agents! There is no such thing as an approved Short Sale!

I swear, if I see another listing that reads "Approved Short Sale! Quick Close! Buyers fell through make offer!" or something equally as stupid, I will have a freak out. These types of comments show that either the listing agent has no clue how short sales work, or they are being deliberately misleading. In case you didn't know, a short sale approval is almost always Buyer Specific. This means that the approval was based off of, and is approved only for the buyer… Continue

Added by Joseph C. Alfe on January 16, 2010 at 3:00pm — 15 Comments

Arguing about Short Sales accomplishes nothing

I love it when opposing agents try arguing with me about how to run a short sale. Questioning every request that I make of the buyers, etc. When I ask these "experts" how many short sales they have closed, I get "I have alot of short sale listings." That is not what I asked. HOW MANY HAVE YOU CLOSED? That's when they get quiet.



it's the same with lenders. Even when their requests seem inane, there is no point in questioning or arguing with them. What many do not understand is that… Continue

Added by Joseph C. Alfe on January 13, 2010 at 12:00pm — 5 Comments

Resources!!!

Don't forget to check the 'Resources' Section for all the documents and phone/fax numbers you'll need

Added by Ethan Gregory on January 12, 2010 at 6:28pm — No Comments

NAR Short Sales and Foreclosure Certification

Casandra Beebe Earns NAR Short Sales and Foreclosure Certification

Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales



Minneapolis, MN 01/11/2010 — Casandra Beebe with Easy Street Realty has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional… Continue

Added by Casandra Beebe on January 12, 2010 at 10:44am — 4 Comments

How to properly Execute a Short Sale Offer, and the importance of buyer addendums

What to look for in a short sale offer

www.activerain.com/blogs/short_sale_expert







As one of Illinois largest short sale negotiators, I have the opportunity to work on hundreds of short sales. Over the last 12 months, we have averaged an approval rate of close to 95%. So, are we closing 9 out of ten short sales? Not even close. What’s the problem? Inept agents top the list, and the number one… Continue

Added by Joseph C. Alfe on January 11, 2010 at 9:30pm — 5 Comments

Real Estate Link Exchange

I'm looking for some fellow agents or web developers to participate in a one way Real Estate Link Exchange website program with me. Link up with me using this link, and I'll link up with you FROM A DIFFERENT SITE! That way, for search engine purposes, we will each be linking to a unique site, with no two way links!

If you are interested in moving up on Google and the other top search engines for free,…

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Added by Mike Linkenauger on January 8, 2010 at 8:00pm — 4 Comments

Scripts

Does anyone have any scripts they will share to prospect for short sales?

Added by Laurie Nadeau on January 8, 2010 at 7:36pm — 3 Comments

Short Sale Buyers Disclosure - Opinion?

As many of my fellow agents, I get tired of multiple, repetitive disclosures with contracts that are just not necessary in real estate transactions. I actually had a deal last week where the sellers and their agent demanded that our buyer initial every page (30+) of an inspection report the SELLER had done eight months prior!

Its not every day I come across a good, new USEFUL disclosure in my area of the country! We…

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Added by Mike Linkenauger on January 8, 2010 at 6:42pm — 2 Comments

San Diego, CA home in Normal Heights Short sale Negotiator assigned ! Make your offer now

Click to view this home www.SanDiegoRealtyUpdate.com



OR VIEW IT BELOW!



>…

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Added by Realtor ROY on January 8, 2010 at 6:08pm — No Comments

San Diego County, Lemon Grove, CA Short Sale Listed November 2009 , Short SALE APPROVED DECEMBER 2009

Accepting back up offers!



Watch this virtual tour of this home below or at my website http://www.SanDiegoRealtyUpdate.com…







Continue

Added by Realtor ROY on January 8, 2010 at 6:05pm — No Comments

New Short Sale Happenings

Well, it's been awhile since my last post and it's not because business is down. Au contrere my friends, if you are in real estate and you are NOT doing short sales you are certainly missing out. I have more short sales than I can shake a stick at! Seriously though, to be successful in short sales, it is IMPERATIVE that you:



1. Know what you are doing (and I mean really know what you are doing, none of this "I'll learn as I go along malarkey.")

2. Have a support staff

3.… Continue

Added by Joseph C. Alfe on January 8, 2010 at 12:11pm — 4 Comments

Buying Short Sales Require an Experienced Realtor

The best way to buy a short sale home is to use a Realtor who has short sale training and experience. The short sale process is much more complicated than buying a regular home, so if you have a desire for saving a lot of money on your home purchase, contact a local Realtor who can either help you or refer you to someone who specializes in these home transactions.

Michael Mergell
(317) 645-8717
michaelmergell@remax.net

Added by Michael Mergell on January 7, 2010 at 6:42pm — 1 Comment

Facebook Friends = Short Sale Help!

It's really important to let people know that there is help, and one way I tell people about my services is on www.facebook.com. A facebook friend of mine has been watching the work I have been mentioning on facebook status updates, and talking to me in person about what I do with short sales. So when a friend of hers reached out in desperation in a message on facebook, my friend knew she could… Continue

Added by Dawn Maloney on January 7, 2010 at 5:35pm — No Comments

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Ocwen Contacts Short Sale Package

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