For months now you have seen information that banks were going to begin shifting their focus when liquidating distressed properties. They would start supporting short sales over foreclosures. There is no longer any doubt this is now the new normal. In a recent news release, the FHFA announced new guidelines to streamline the short sale [...]
Tag Archives: Short Sale
Is a Picture Really Worth a Thousand Words?
There are some things that are almost impossible to explain without a graphic or visual. With complex issues, the value of using visuals cannot be overexaggerated. A study measuring the importance of using visuals by the University of Minnesota concluded: Presentations using visual aids were found to be 43% more persuasive than unaided presentations. There are [...]
6 Tips for Buying a Home in a Short Sale
By preparing for a real estate short sale, you can emerge with a great home at a favorable price. When sellers need to sell their home for less than they owe on their mortgage, they’re shooting for a short sale. Short sale homes can sometimes be bargains, but only if you do your homework, stay [...]
Another Positive Report!
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The Top 5 Reasons Deals Fall Apart
The Top 5 Reasons Deals Fall Apart by Dean Hartman I’ve been told that 29% of all contracts signed never make it to the closing table- that nearly 3 in 10 transactions where a buyer and seller have come to terms (no easy feat in this market) fall apart. In a more normal market, I [...]
Short Sale vs Foreclosure – 10 Common Myths Busted
It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have [...]
Finding a Short Sale Expert
You should know the importance of using an agent trained in the short sale process when selling or buying a home as a short sale. Today, we want to address how to identify those agents who are truly qualified. There are many local instructors who have done excellent work in this field. We appreciate their [...]
Short Sale Success: What is an Acceptable Hardship?
Short Sale Success: What is an Acceptable Hardship? A short sale, in most instances, is a complex transaction. However, there are two very simplistic characteristics that every qualified short sale possesses: 1. The house must be valued at less than the homeowner owes on their mortgage debt obligation. In other words, the home must be [...]
Sue Savage: Realtor-Friend-Short Sale Saviour
We have known Sue as a neighbor, as our Realtor, and now as a friend. Recently, we were faced with an economic decision regarding our home and we opted for “Short Sale” as a solution. Sue Savage was nothing short of brilliant. And, to make clear, we were probably not the ideal client: fearful and [...]
