What exactly is a short sale? You hear that term a lot on the news, but what exactly does it mean, and how does it work? There are two reasons why banks are willing to grant a short sale. The first is hardship (unemployment, divorce, medial emergency, death, bankruptcy). The second is when the seller [...]
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Is It Better To Buy a Dallas Short Sale or Wait for the Foreclosure
If you put in an offer to buy a Dallas short sale waiting for an answer from the bank can be long and frustrating. A short sale situation happens when a seller’s lender agrees to accept less than what is owed on the mortgage to allow the sale between the seller and buyer to [...]
Help the Housing Market – Increase Foreclosures!
It’s refreshing to see an article in CNN Money reiterating what many of us in the real estate industry have known for years; that the foreclosure abatementprocess is simply delaying the inevitable. Many of the homes in the foreclosure process will never be recovered, it’s much better to foreclose and get on with the next [...]
Understanding the Short Sale Process As A Buyer
As a buyer in today’s market, you’re bound to see numerous short sales and foreclosure properties. Deciding on buying a short sale vs. foreclosure is a difficult decision. On one hand, a foreclosure is quicker, but on the other hand they may need a lot more work to be livable. A short sale can take [...]
Short Sales Properties: The Second Best Deal
With the current status of the real estate market there are great investment opportunities that can be found across the country. However, where do short sales fall? Are there better investment opportunities out there or are short sales your best bet? According to RealtyTrac, homebuyers are definitely taking advantage of the real estate investment opportunities [...]
Non-Distressed Property Sales Are Shrinking, Say the Numbers
The real estate market has had its share of ups and downs (mostly downs for homeowners) over the last decade, but now the housing market may actually be shrinking. Numbers released yesterday reveal that nearly one-third of all home sales in the United States from April to June of this year were distressed properties, which [...]
Short Sale, Foreclosure and REO
Many consumers confuse a Short Sale Property and a Foreclosed Property. This is something that majority of consumers have difficulty between defining the two and then what is an REO? Well I thought we would look at each and get a little better understanding of the terms. According to Realtor.org here is how they define [...]
Why Now is the Perfect Time to Invest in Foreclosures
As any real estate professional knows, today’s market is a buyer’s market. Low home prices, dirt-cheap interest rates, and an overflowing supply of homes give buyers the upper hand in the market. But with seemingly every incentive to purchase known to man available now, all at the same time, qualified buyers are still wary of [...]
Distressed Homes Muddy the “Real” Data
As has been discussed here and in many other places, the housing statistics that are ubiquitous and continually pounding the life out of everyone must be kept in context. The fact is, unless the data is broken down piece by piece to ensure accuracy and legitimacy, it probably isn’t reliable. Everyone agrees that the real [...]
Real Estate Losses Surpass the Great Depression – And Why the News Isn’t All Bad
It’s official: real estate markets nationwide have lost more over the last few years than they did during the Great Depression. Specifically, from 2006 to the first quarter of 2011, nationwide real estate markets have lost roughly 33% in value, compared to the 31% in value lost from 1929 to 1933. And the worse news: [...]
Been There, Done That: Tips for Short Sale & Foreclosure Buyers
Despite what the name suggests, the process of buying short sale properties is anything but short. In contrast, the process can be long, averaging from three to six months or more. However, buying a home in short sale; when a property is sold for less than the outstanding mortgage(s) can sometimes mean big savings for [...]
HSBC to make some major changes to its Mortgage Divisions
In recent history time has shown HSBC to be in the process of consolidating its mortgage divisions. A recent letter sent out to our customers who have a mortgage that is being serviced by HSBC Mortgage Corporation division, in possibly yet another decline in their company standings, as many of the other HSBC divisions before [...]
Tax Lien before closing…
Tax Lien before closing and everyone is lost.
Chase: Phone Number Changes (Contact Information Changes)
Chase, one of the mega Goliaths in the mortgage servicing industry is about to start a major renovation on their phone systems. In a conversation the other day with a representative in the Executive Office it was divulged to one of our negotiators that there were going to be some major changes in the phone system [...]
Dallas Short Sale – How To Do One
Not all home sellers or all homes will qualify for a Dallas short sale. Although lenders have varying requirements for them to approve a short sale and may demand that a borrower submit a hefty amount of documentation.
Dallas Short Sales and the Effect on Your Credit Score
A Dallas short sale happen when a bank agrees to accept less than the amount owed on the mortgage because there is not enough equity to sell and pay the costs of sale. Not all lenders will agree to a short sale, and that is why a Dallas Realtor can be a tremendous help by contacting the lender’s loss mitigation department to find out.
Quick Answers To Top 3 Foreclosure Questions Around North Atlanta
I have been in Real Estate for some time now and have decided to share the top 3 questions I receive on the topic of North Atlanta Foreclosures and Short Sales. Question #1 Have I worked with foreclosures and short sales and what exactly is the difference? Yes I have and continue to work more [...]
7 Years, Lawyers & 3 Lender Tall Tales
It took 7 years, a foreclosure attorney AND interest from the United States Trustee, the unit of the Justice Department that oversees the nation’s bankruptcy courts, to get an answer for a woman trying to do the right thing.
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$10000 California First Time Home Buyer and New Home Tax Credit Extended
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Unite Against the Sarasota MLS Board
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Short Sale Heaven Coming April 5th 2010
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The Lones Group – Real Estate Social Media Marketing Firm – Sues Agent For Being A Zebra
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California Senate Bill 94 (SB94): Passes; Not even Attorneys can do it!
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Stage Your Front Entrance to Make a Good First Impression
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Case Study: Facebook Ad CTR Jumps by 2000%
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Rob@Jupiter Real Estate: In Florida we have many condos located on oceanfro...
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Larry: It should almost be a necessity to have a swimming...
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New Media 4 Agents: I think we are past the stage of wondering if it w...
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Jim Wagoner: Good information we all should try to live by....
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Mike Pannell: Tony, i tried to sign my Wife up on your property ...
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