July 2012 Blog Posts (26)

Big Differences Between FHA and Conventional Mortgages

Differences Between FHA and Conventional Mortgages

Across the land the vast majority of home buyers use either a FHA or a conventional mortgage to purchase a property.…

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Added by Michael Collins, CDPE, SFR, BPOR on July 31, 2012 at 5:08pm — No Comments

Need Contact Information : Wells Fargo Short Sale

Looking for contact information and documentation list for Wells Fargo 1st position short sales. Is wells utilizing the "Equator" platform?

Thanksa

James

Added by James bangar on July 30, 2012 at 2:32pm — 4 Comments

Understanding Requirements of Appraisal for FHA Loans

Understanding Specific Requirements of Appraisal for FHA Loans in Wisconsin

The all-time low mortgage rates combined with…

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Added by Michael Collins, CDPE, SFR, BPOR on July 30, 2012 at 1:50pm — No Comments

A Turn Around for the Housing Market?

May 2012 Could Signal a Turn Around for Housing Market



There is some hope for the real estate market. According to a report published by the Commerce Department the number of homes purchased in May of 2012 was the highest number in over two years. The number of purchases increased from…

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Added by Michael Collins, CDPE, SFR, BPOR on July 26, 2012 at 11:12am — 2 Comments

Michael Collins receives BPOR Certification

FOR IMMEDIATE RELEASE:

NAR Broker Price Opinion Resource BPOR

Michael Collins Earns NAR Broker Price Opinion Resource Certification

Sellers and Lenders Benefit from REALTOR® Expertise in Broker Price Opinions

Madison, WI — Michael Collins with Rock Realty has earned the nationally recognized Broker Price Opinion Resource certification. The National…

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Added by Michael Collins, CDPE, SFR, BPOR on July 26, 2012 at 10:17am — No Comments

New Jersey Short Sale Specialist

New Jersey Short Sale Specialist

New Jersey has been facing one of the most challenging economies in its history. The housing market has been decreasing at such a rapid pace that one out of three homeowners owe more on their mortgage then their home is worth. Some parts of the country one out of every five homeowners are behind on their mortgage payments.  You might be in a similar position that you need to sell but owe more on your home then its worth.  You might have a ARM…

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Added by Carl SanFilippo on July 23, 2012 at 10:42pm — No Comments

Listing Agent Challenge

I'm someone who wanted to buy a property. We waited a week each time we asked the listing agent if we could see the property, but she never called us. We found an agent to show us the house and immediately entered our bid with complete pre-approval at market value. We learned that someone who was also represented by the listing agent had bid a lowball cash offer and had been declined by the Bank of America. She said she would submit our bid, but the next day, submitted the initial investors…

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Added by Gennifer Lyon on July 23, 2012 at 7:31pm — 14 Comments

Wisconsin June 2012 Housing Statistics

Counties of WI The Wisconsin housing statistics are now in for June of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:…

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Added by Michael Collins, CDPE, SFR, BPOR on July 23, 2012 at 11:17am — No Comments

B of A Short Sale Relocation Assistance Program

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Added by Ed Clements - SFR on July 20, 2012 at 6:03pm — No Comments

Be Careful What You Post On Face book When Trying To Short Sell Your Phoenix Home

Phoenix AZ – Let's say a friend owes you a thousand dollars. They come to you with a sob story about how they are broke and cannot afford to repay you.



"I am so broke that we are about to lose our car. And the electricity was turned off last month when we missed the payment. I can't even afford diapers for our son", they tell you.



<a href="…

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Added by Enoch Simmons on July 20, 2012 at 11:27am — No Comments

Real Estate Terms for First Time Home Buyers

First Time Home Buyer The real estate industry is just like any other major industry segment. The people that work within the industry use specific phrases and words that are not too common in other types of work. Understanding…

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Added by Michael Collins, CDPE, SFR, BPOR on July 18, 2012 at 9:25am — No Comments

B of A cancelled short sale

I would like to share this story and get the groups recommendations and opinions.

I am or was the buyer in a SS until Friday. The story started a couple of months ago when I found a house I liked. I talked to a real estate agent that my daughter purchased a house from about 3 years ago and decided to go with him since he lives and is knowledgeable in the Simi valley/Moorpark areas. He found out that it already is in a SS transaction but recommended we submit a back up offer, and so we…

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Added by danny on July 16, 2012 at 12:01am — 2 Comments

Short Sale or Stay Home

Do you qualify for a Loan Modification or Principle Reduction?

If yes, you should do it.

 

If you do not qualify for a Loan Modification or Principle Reduction, see questions below.



1) Are you comfortable with your current mortgage payment?

2) Are you confident your income will remain constant?

3) Do you see yourself living in the home for the next 7 to 10 years without having the need to move for     

    employment or to move up or…

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Added by Ed Clements - SFR on July 14, 2012 at 5:00pm — No Comments

A Great Result on a Very Hard Redwood City Chase Short Sale

I have been working on a Redwood City short sale with Chase since last September. Now if this were 2009 this would be more like dog bites man rather than man bites dog. But is is 2012 and most short sales do not take so long. However, this one has a 3rd loan for a lot of money and it slowed the process down.

Selling the property at market value was not that hard, despite being on a fairly busy street. We got an offer for $510,000 and a BPO for…

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Added by Marcy Moyer on July 13, 2012 at 8:53pm — No Comments

BEAT THIS SHORT SALE DEAL "KILLER" I DARE YOU

Ill make it short and sweet.  Got a great deal approved 2 fam and a store approved.  The home owner shoots his tenant in front of the buyer and scares the buyer off the deal....... Guess I will get this short sale even lower now?!?

Added by chris magliocca on July 13, 2012 at 2:00pm — 5 Comments

What qualifies for a Short Sale Proof of Funds?

Anyone with experience in short sales and REO's know the bank requires proof in writing that the buyer has the necessary funds for the purchase of the property. If the buyer is paying cash I have always advised them to obtain a letter from their bank stating they have…

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Added by Michael Collins, CDPE, SFR, BPOR on July 12, 2012 at 1:30pm — 6 Comments

B of A Increases Relocation Assistance to Its Customers

 

 

 

Bank of America Increases Relocation Assistance Payments to Customers Completing Preapproved Price Short Sales…

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Added by Michele Ashbarry on July 11, 2012 at 6:35pm — No Comments

Janesville, WI Short Sale Home Seller Testimonial

Rock Realty Client Testimonials



"Mike Collins helped us sell our home, he was a very nice guy and always there when we had any questions or concerns! Mike went above and beyond and even helped paint the house when there was a time crunch for the inspection. We appreciated all that Mike did!"

Katy K.(Janesville, WI)

Rock Realty Client…



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Added by Michael Collins, CDPE, SFR, BPOR on July 10, 2012 at 3:20pm — No Comments

Hiring Property Management Professionals Significantly Benefits Property Owner

The powerful thing for real estate investors to do today is to make their leasing properties stand out more than their opponent properties. A buyer's market out there for houses likewise a renter's market out there for rental properties too. If you own local rentals, then property management services provides you the most likely one by making your…

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Added by Andrew Willson on July 9, 2012 at 9:30am — No Comments

A Happy Rock Realty Home Seller

Rock Realty Client Testimonials

"My first listing contract (with another agency) expired without a single showing. I contacted Mike Collins hoping to get some straight advice about whether he thought the property would ever sell versus letting the lender foreclose on the property and save my mortgage payments for legal counsel. He was upfront from day one. He told me that it would take a while and that I'd probably have to hold it through the winter…

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Added by Michael Collins, CDPE, SFR, BPOR on July 3, 2012 at 3:44pm — No Comments

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