fnma: Seller Concessions: The lower the better for all: here is HOW!
- 05/19/13 12:36 PM
In this challenging appraisal market, the goal is to keep the seller concession to a minimum so as to prevent the need for a higher appraised value. In order to accomplish this task, a lender credit is the answer!
Not all lenders provide a credit. It is best to shop around and ask which lenders provide a credit.
As an example, a transaction was saved when the seller was offered $195,000 with a $5000 seller concession. The seller wished to net $192, 000. The realtor realized the need to find a lender who would provide a lender credit, thus … (1 comments)
fnma: GOHOMING.COM : a Real Estate Auction Site: What is your experience?
- 02/02/12 02:49 PM
This site is growing in popularity here in the North East. I am curious what everyone thinks of this site and their experiences in closing transactions with the properties listed on the site, Also, what other auction websites are you using? All comments, as always, very much appreciated!
… (3 comments)
fnma: Do you make clients LAUGH?
- 09/08/10 05:58 AM
Once you get people laughing - they're listening - and then you can tell them almost anything." Herbert Gardner
When you meet people, do you smile? Try to make them laugh? Or do you play it ALL business?
I believe showing a personality helps to bond any relationship in life, including professional ones. Not too much, but just enough to show your human side.
What do you do? … (0 comments)
fnma: Before you have a SIGNED lease for an apartment, do you allow other agents in to view your rental listings with their clients?
- 07/16/10 02:23 AM
Let's face it: little commission is made with rental listings. If you need to co-broke, even less is made. You have built up a client base of renters and you are known as the rental agent in your area. So, you have investors who own multis in your area whom you have been doing business with for years and when they have an empty unit coming available, they call to let you know when it will be vacant. As potential renters call, you inform them of this soon to be vacancy. You have one renter who shows great interest in a … (1 comments)
fnma: ARE YOU HONEST?
- 11/07/09 03:00 AM
"Make yourself an honest man, and then you may be sure that there is one less scoundrel in the world." Thomas Carlyle (1795-1881) Scottish Writer
HONESTY IS THE BEST POLICY ! How often have you heard this? If we all lived by this rule, the world would be such a better place to live! There are those of us who play by the rules and those of use who look for a "work-around". Who are YOU?
Have a GREAT day!
Ann M. Sabbagh Vice-President Seacoast Mortgage Corporation "Where financing is smooth sailing!" Residential & Commercial Financing (508) 243-1190 … (4 comments)
The real estate industry has its nightmares, but when the dream closings and the dream clients come along, how quickly we forget about the nightmares! Have a GREAT day!
Ann M. Sabbagh Vice-President Seacoast Mortgage Corporation "Where financing is smooth sailing!" Residential & Commercial Financing (508) 243-1190 (401 475-1441 (fax) email: asabbagh@seacoastmortgage.com website:www.annsabbagh.com
"When you choose me as your mortgage consultant, you also choose a financial planner who cares about your financial strength!" … (1 comments)
Sometimes we get in our own way when a challenge is presented to us. It may be our stubbornness or our pride or our own personal convictions. We need to step out of the box and watch ourselves as if we were in a movie. What would we think of ourselves as we watched?
Real estate, and for that matter, everyday living, presents obstacles we need to overcome in order to achieve RESULTS. Let's eliminate one issue: ourselves. Fight back the temptation to argue back. When others … (4 comments)
So, let's put this into an example: As a listing agent, you have been listing many homes in excellent/good shape. One day, you are asked to list a house that is in BAD repair: bad odors, plumbing that does not work, porch falling off, terrible landscaping, etc... WHAT DO YOU DO?
Turn the lemon into LEMONADE! HOW? Target a contractor who wants to team up with … (4 comments)
We all face challenges during the day, a curve or two in the road, especially in a difficult real estate market such as this! Our challenges should strengthen us and compel us to move forward and through them.
So, the next time you receive a call from someone involved in the transaction, which may cause a delay or possibly a termination of the sale, consider the issue a challenge. One that can be overcome by everyone working together. And … (5 comments)
fnma: Do you BLAME others when things go wrong in a transaction?
- 10/16/09 03:52 AM
"Yes, there are times when something is legitimately not our fault. Blaming others, however, keeps us in a stuck state and is ultimately rough on our own self-esteem." Eric Allenbaugh - Author of "Wake-Up Calls"
So, when was the last time you said: It was the loan officer's fault!" OR "It was the agent's fault!" OR "That darn appraiser ruined the transaction for everyone!" .
When a transaction goes south, we should all realize not every transaction can be a grand slam. There are houses that will not appraise or will have appraisal issues, like repairs required. There may … (3 comments)
Yes, times are difficult in the real estate industry. But a POSITIVE attitude and knowing that every day is a blessing and will be the BEST day of the year will make life happen for you and for others, since a positive attitude is contagious!
Try it!
Ann Sabbagh Vice-President Seacoast Mortgage Corporation LICENSED LENDER AND BROKER Residential AND Commercial loans 508-243-1190
"When you choose me as your mortgage consultant, you also choose a financial planner who cares … (8 comments)
I hear often in this industry: "my mortgage lender did not listen to what I wanted or my realtor is showing me homes I have no interest in"
By listening to our clients needs, we will be able to better meet those needs. Pure and simple!
Let's get listening!
Ann Sabbagh Vice-President Seacoast Mortgage Corporation LICENSED LENDER AND BROKER Residential AND Commercial loans 508-243-1190
"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR future!" … (10 comments)
fnma: The SATISFACTION of the REAL ESTATE INDUSTRY !
- 10/10/09 04:04 AM
"I have always struggled to achieve excellence. One thing that cycling has taught me is that if you can achieve something without a struggle it's not going to be satisfying." Greg LeMond - Cyclist, 3 Times Winner of the Tour de France
Well, we all know real estate can be a struggle during these tough times, BUT at the end of the day we are helping the consumer and isn't that satisfying?
Ann M. Sabbagh Vice-President Seacoast Mortgage Corporation "Where financing is smooth sailing!" Residnetial & Commerical Financing (508) 243-1190 (401 475-1441 (fax) email: asabbagh@seacoastmortgage.com website:www.annsabbagh.com … (1 comments)
Basically the article states due to "online and mobile services: Bank of America is closing 10% of its branches. Well, this trend can not be isolated to just Bank of America. So, what impact can this now have on our economy? More layoffs, more empty buildings. America is clearly being redefined. I do believe we will always have some "brick and mortar" banks in existence, but at what number is the question. As the young generation takes over, fewer and fewer will be required. The … (6 comments)
fnma: PLAY THE GAME OF REAL ESTATE WELL: EVEN WITH SHORT SALES AND FORECLOSURES
- 07/24/09 12:44 AM
Real estate can be like a game of cards. Each deal is a separate hand of cards and a different game. How you play each hand and game will determine the success of that transaction. Play it well and the buyer and seller will be smiling at the closing table!
So, even when you are dealing with short sales and foreclosures, the "hand" can be played well. Here is a perfect proverb to sum it up:
"Life is not holding a good hand; Life is playing a poor hand well." Danish proverb
http://myloanmodificationcenter.com/blog/how-does-a-loan-modification-affect-your-credit/ and: http://savemefromforeclosure.com/blog/2009/04/08/with-a-loan-modification-credit-scores-may-be-affected/ Bottom line: If you are late on mortgage payments your credit WILL be affected. If you are asking for a loan modification with no lates, make SURE you sign documents which state VERY CLEARLY your credit will NOT be impacted. Pure and simple. Have a GREAT day!
Ann Sabbagh Vice-President Seacoast Mortgage Corporation LICENSED LENDER AND BROKER Residential AND Commercial loans 508-243-1190
"When you choose … (2 comments)
fnma: CAREFUL WHAT YOU SAY TO SELLERS AND BUYERS.....
- 07/22/09 12:20 AM
It is so true, we all have to be careful what we say and do throughout life. In the real estate industry, what we say to our sellers and buyers are taken more literally now than ever before. People are in financial crisis. This is the worst financial crisis since the Great Depression. The elderly citizens have lived through it, but the rest of us are experiencing it for the first time and it is NO fun! So, when we speak to sellers, it is best to not over promise and under deliver. To raise expectations for their home selling for … (6 comments)
fnma: SHOULD A SELLER BE PRESENT AT A H0ME INSPECTION???
- 07/16/09 12:33 AM
So, we have a client all lender approved with a signed P&S agreement for $525,000. It's time for the home inspection. The client selects the inspector and arranges a time through their buyer's broker. The day arrives and upon entering the house, there is the listing broker with her seller right behind her.
As the inspection begins, almost every comment by the inspector was followed by a rebuttal from the seller. It all came down to one issue: some water damage that was found on the floor. Our client has asthma issues and had to make sure there were … (8 comments)
fnma: Do you know the BRIGHT side of a BAD day?
- 07/15/09 01:13 AM
Ok, so we all have a "bad day' in the real estate market or any other market, for that matter! The great thing about a bad day is well stated in the following quote: "When your day isn't going well, there is comfort in knowing that a new day is less than 24 hours away." Joyce Prophet So, go out there and cherish the day!
Ann Sabbagh Vice-President Seacoast Mortgage Corporation LICENSED LENDER AND BROKER 508-243-1190
"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR future!" … (4 comments)
"The grand essentials to happiness in this life are : something to do, something to love and something to hope for" by Joseph Addiso
Well, I know ONE thing we are all "doing": REAL ESTATE! This can keep you occupied 24/7! And ONE thing we are" hoping" for: A RECOVERY TO THIS RECESSION! I hope everyone out there has all three "grand essentials" in their lives!
Ann Sabbagh Vice-President Seacoast Mortgage Corporation LICENSED … (4 comments)
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In this challenging appraisal market, the goal is to keep the seller concession to a minimum so as to prevent the need for a higher appraised value. In order to accomplish this task, a lender credit is the answer!
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