I saw this video on my Facebook feed the other day. I thought it was really cute, and it appears as if hundreds of thousands (perhaps millions by now) agreed. You see we could all relate to this little girl. What do you think? I think that the reason this went viral is that at […]
What 2016 Short Sale Sellers Need to Know
With the real estate market getting busy right now, more sellers are entering the market. And, with more homes for sale, we are seeing more short sales. Sadly, short sales are considered as the only way out for some sellers who actually owe more on their mortgages than the worth of their houses. One of […]
Holy Moley… My listing is a short sale
Now that the market is officially swinging upwards again (for how long, who knows?), there’s something very important that you need to know if you are a listing agent. Specifically, you need to know how much the seller owes in liens and mortgages and assess whether the seller is actually “upside down” or not. That […]
6 Major Problems with Short Sale Approval Letters
Since we are getting handfuls of new short sales to process each week, this would indicate that the market is moving. As more sellers enter the market, prices decline, which puts many sellers on the brink where they may not have equity any longer. So, what to do? A short sale, of course. Everyone will […]
Warning: Possible Return of the Foreclosure Market
A new crisis is brewing in the Home Equity Line of Credit (HELOC) market. HELOCs were en vogue from late 2004 to early 2008 when home prices were skyrocketing. Millions of homeowners couldn’t resist the temptation to borrow against their rapidly increasing home equity, and banks and mortgage lenders were all too happy to accommodate. HELOCs were typically […]
Here’s How to Beat the Competition…
Are you familiar with Seth Godin—author of Purple Cow among other noteworthy books? On Godin’s blog awhile back, he discussed real estate agents and brokers. That’s not something that he normally does. Generally, he shares marketing ideas and thoughts about how to make your business and yourself remarkable. But, in this post, he speaks about […]
Why Your Short Sale Transaction May Not Close
Communication is the key to success in just about everything. Effective and continuous communication is also important when dealing with a short sale transaction. Just the other day, I advised a Realtor® friend that the his short sale transaction had submitted to the investor for approval Also, I reminded him that the Trustee’s Sale (foreclosure […]
1 Reason that Real Estate Agents Hate Short Sales
Many people who buy short sales feel confident that they are getting a bargain. The bank approves the deal after months of waiting, and then the buyer gets started with the inspection and the appraisal. Bad news, however, may ensue when the buyer’s loan appraisal comes in at a value below the approved short sale […]
9 Tips for a Successful Short Sale
Are you having trouble getting your short sales closed? Do you think that they take forever to process? Do your buyers walk when you have finally obtained your approval letter? This is article number nine in a series of 10 articles about the Top Ten Tips for Getting Your Short Sales Closed. Tip 1: Get […]
#1 Thing You Need to Know About Short Sales and Bankruptcy
When taking a short sale listing, one of the questions that the listing agent should ask is whether the seller is in an active bankruptcy. Due to the Recession, it has become increasingly more common for homeowners to file (or to have recently filed) bankruptcy. Here’s what you must know about short sales and bankruptcy. […]