phoenix short sales: Expiration of the 2007 Mortgage Debt Relief Act, and It's Effect On Phoenix Short Sale Homeowners
- 02/02/12 10:42 AM
Expiration of the 2007 Mortgage Debt Relief Act, and It's Effect On Phoenix Short Sale Homeowners The Mortgage Debt Relief Act of 2007 will expire on December 31, 2012. If you currently owe more on your home than it’s worth, you’re facing the possibility of losing your home to foreclosure or you’re thinking about a short sale as a possible solution to your personal Phoenix housing crisis, it’s crucial that you keep reading. There’s still time for the Mortgage Debt Relief Act of 2007 to help you – if you act fast. Read more about how the expiration of the 2007 … (1 comments)
phoenix short sales: Buyers- Please Use A Reputable Mortgage Bank To Purchase My Phoenix Short Sale!
- 09/16/11 09:41 AM
Buyers- Please Use A Reputable Mortgage Bank To Purchase My Phoenix Short Sale! Lately, we have had several Phoenix short sales "blow-up" at the last minute because of the buyer's lender, and in every single case, the lender was one of the "Big Banks" (Chase, Wells Fargo,BofA, etc.). Those deals that have been handled by local mortgage banks have flown through the process, with little or no issues. When it comes to purchasing a home, buyers basically have three lending sources: -Institutional Lenders (Chase,BofA, Wells Fargo, Citi, etc.) -Mortgage Brokers -Mortgage Banks Whatever you do, steer clear of the institutional lenders! … (8 comments)
phoenix short sales: Is Your Agent Advising You To Stay Away From Phoenix Short Sale Listings?
- 09/07/11 06:17 PM
Is Your Agent Advising You To Stay Away From Phoenix Short Sales Listings? (Warning: Apologize for the length of this article, but I hope it's well worth the read)... If so, they are hurting your chances of finding a home in the foreseeable future. Today, I received the most interesting phone call from a buyer on a Phoenix short sale listing in my inventory. She was frantic, asking if I could get her in to see the home ASAP. I asked if she was working with an agent. Her response was, "I was working with an agent, but I fired … (12 comments)
phoenix short sales: Phoenix Phantom Foreclosure Inventory-How Spooky Is It?
- 08/18/11 08:19 PM
Phoenix Phantom Foreclosure Inventory-How Spooky Is It? Ok, I've finally been asked enough questions about the "Phoenix Phantom Foreclosure Inventory" from both Phoenix short sale sellers, and the buyer clients we represent. Several buyers that we represent are now saying that their friends/neighbors/relatives are warning them not to buy, as there is this HUGE pent-up inventory of homes that the banks own, and it's just a matter of days/months before they "release them to the market". I say BS! Do me a favor and Google search the term "phantom foreclosure inventory", and you'll see that everyone from real estate agents to … (5 comments)
phoenix short sales: FTC MARS Ruling No Longer Applies To Phoenix Short Sale Agents!
- 07/15/11 09:00 AM
FTC MARS Ruling No Longer Applies To Phoenix Short Sale Agents! Yes, you heard that correctly. Today, the FTC announced that the recently enacted Mortgage Assistance Relief Services Rule (MARS) will no longer apply to real estate brokers and/or their agents. The only provision that will continue to be enforced is the section that deals with misrepresentation. Obviously, with pressure from the real estate community (as well as NAR), the FTC finally realized that in an effort to stop the loan-modification scammers, they ended up casting a net so wide that it ended up including those of us who are trying to … (5 comments)
phoenix short sales: John Vollmecke at West USA Realty...Are you really this desperate?
- 06/23/11 07:00 PM
John Vollmecke at West USA Realty...Are you really this desperate? Tonight I decided to check in at Zillow to see how my Phoenix short sale listings were doing. Lo-and-behold, one of my listings (3990 E Crest Lane) was claimed by another agent on June 10th. The agent's name is John Vollmecke, and he even went so far as to change the eloquently-written description (which I had written) to the following: $$$ Best Selection Valleywide Save Thousands! Let the Foreclosure Expert negotiate the best deal for you! BestAZForeclosure.com 602.390.0026 Hundreds to Choose From... (Photo shown is not necessarily actual home.) Actually, the … (32 comments)
phoenix short sales: Real Estate Ethics 101-Another Day In The Life Of A Phoenix Short Sale Agent
- 06/08/11 05:00 AM
Real Estate Ethics 101-Another Day In The Life Of A Phoenix Short Sale Agent I have a Phoenix short sale listing on a beautiful home, priced at $399,900. This past weekend, we received 3 offers on the home. Our first choice ended up being an all-cash offer at $379,000. Our 2nd choice was a financed offer at $380,000, and the 3rd came in at $350,000. To give a little background, the home has polybutylene pipes throughout, and this was disclosed in the Realtor Remarks section of the MLS. To cover our butts, before accepting any of the offers, I called all … (8 comments)
phoenix short sales: This Phoenix Short Sale Realtor Uses Google To Get Your House Sold!
- 05/15/11 08:31 PM
This Phoenix Short Sale Realtor Uses Google To Get Your House Sold! Click on this quick video to see how important we feel the internet is in getting your home sold! Looking For A Dedicated Phoenix Realtor? Let me GOOGLE one for you! Subscribe To This Blog Via Email
phoenix short sales: $150 Billion & Counting-What Should We Do With Fannie Mae & Freddie Mac?
- 01/25/11 05:23 AM
$150 Billion & Counting-What Should We Do With Fannie Mae & Freddie Mac? Today, the news agencies are abuzz with the headline that taxpayers have spent approximately $162 Million on legal fees to defend the very criminals at Fannie & Freddie that got us into the mess we're in. Yawn! Right? What's worse is that we (you and I) as taxpayers, have spent approximately $150 Billion thus far bailing them out, and many experts expect that number to double to $300 Billion before all is said and done. Yawn again, right? I know, by now many have already closed this post … (12 comments)
phoenix short sales: Want More Visitors To Your Website? Call Coach Katerina!
- 11/23/10 04:52 PM
Want More Visitors To Your Website? Call Coach Katerina! In January/2008, I paid big bucks to have a "website designer" develop a website that he promised would be "cutting-edge". I explained that I wanted the site to cater to people looking for a Phoenix short sale Realtor who could help them through the difficult decision of dealing with the possibility of losing their home. I wanted it to be informative, and I wanted to be able to make changes to it as the market changed. He promised it would do everything I wanted, and his "SEO expertise" was his strength. Here … (8 comments)
phoenix short sales: My TV Interview Regarding Phoenix Strategic Short Sales
- 11/18/10 06:34 AM
My TV Interview Regarding Phoenix Strategic Short Sales Last night, local NBC affiliate Channel 12 ran a story on strategic short sales, and they asked for my input. I recently wrote a blog on Phoenix strategic short sales, as have several others who specialize in this arena. While this is a "controversial" subject for some, I feel that it beats the heck out of a strategic default. Some banks are not putting as much emphasis on the "verifiable hardship", and are making decisions based on what is best for their bottom line. Like I say in the interview, "If it's good … (9 comments)
phoenix short sales: Arizona Pre Foreclosure Buyers & Agents-Demand A Copy Of The Preliminary HUD-1!
- 10/05/10 06:28 PM
Arizona Pre Foreclosure Buyers & Agents-Demand A Copy Of The Preliminary HUD-1! The great majority of my business in the past year has been that of an Arizona pre foreclosure listing agent. As many of you know, Phoenix homes have taken a beating in the past two years, and short sales have become "the norm" for our market. That being said, today I learned a very valuable lesson when it comes to representing Phoenix short sale buyers. We submitted an offer on August 6, 2010 for a Scottsdale short sale at full price, with no seller contributions ($445,000). Because the home … (11 comments)
phoenix short sales: Investor's Business Daily Article: Homebuying Via 'Short Sale' Takes Time
- 07/22/10 08:15 PM
Investor's Business Daily Article: Homebuying Via 'Short Sale' Takes Time Kathleen Doler with Investor's Business Daily called me two weeks ago, wanting my insight into the current short sale market. I was happy to share what I was seeing, as was fellow AR Member Bryant Tutas (who I hold in high regard when it comes to short sales). I think the article does a good job of explaining some of the challenges we are facing in the "short sale world". I'm always happy to see those in the mainstream-media sharing the experiences of "real-world" short sales with the general public. The … (1 comments)
phoenix short sales: My Television Interview Regarding A Scottsdale Short Sale
- 09/14/09 05:01 PM
My Television Interview Regarding A Scottsdale Short Sale This evening, the local NBC Affiliate aired a story about a short sale that I have been working through with one of my clients. The interview took place after I sent an email to the news station, detailing how my client was being treated on a Scottsdale short sale with IndyMac (now OneWest Bank) and BofA (second position lender). To make a long story short, I spent approximately 10 minutes on camera, talking about what we've dealt with over the past 3 months with OneWest and BofA. i talked about the government bail-outs, … (5 comments)
phoenix short sales: Guess What? IndyMac (now One West Bank) & BofA WOULD RATHER FORECLOSE!
- 09/04/09 07:50 AM
GUESS WHAT? INDYMAC (NOW ONE WEST BANK) & BOFA WOULD RATHER FORECLOSE! For the past several months, we, as agents who have taken on short sale listings, have been able to tell potential clients, "Your lender doesn't want your home back. They would much rather work with you on a short sale". Well folks, I'm here today to tell you that you should pause before making this assertion. Fellow CDPE (and AR Member) Sidney Jimenez has written several blogs lately about the strong-arm tactics that lenders have been taking in recent weeks/months. I would highly recommend you read them here, and … (10 comments)
phoenix short sales: Judge Says "NO" To Loan Modifications!!!
- 08/20/09 12:41 PM
There was an interesting and potentially serious ruling by a Federal Court Judge that could alter the opportunity for lender-servicers to modify mortgages to mitigate foreclosures. The link below discusses the rendering in some detail and is worth reading. In essence, the Judge has ruled that mortgager terms cannot be modified without the consent of the investors in a mortgage backed security giving their approval, that the mortgage is a contract that can't be changed. In addition, he apparently said that the issue was one for the State courts to decide and was not a federal matter. This could be a very large … (0 comments)
Local Agent Provides Free Information Resource to Phoenix Homeowners Facing Financial Hardships
New Web site presents options for homeowners confronted with the possibility of foreclosure.
Phoenix, Arizona – August 17, 2009 – Local real estate agent and community advocate, Bob Hertzog of Summit Home Consultants, today announced the creation of a new information Web site for Phoenix-area homeowners in distress. www.foreclosureuturn.com contains vital facts about the options available to these homeowners, to help them make the educated decisions about their future.
“I developed this site with … (0 comments)
phoenix short sales: A DAY IN THE LIFE OF A PHOENIX SHORT SALE AGENT/BROKER
- 08/07/09 02:10 PM
I ran across an article today on the USA Today website that does a great job of describing what we, as Phoenix Short Sale Agents/Brokers (and our clients) go through on a daily basis. Click Here for a link to the video and article. The video is a classic example of what we are all facing today. When you watch the video, approximately 35 seconds into it, pause it and notice what lender this poor guy is dealing with. Hint: It's logo is on the checkbook laying in his file. It's funny, because I was ticked today after I waited 1 … (2 comments)
phoenix short sales: HOT OFF THE PRESS!! DID PRICES ACTUALLY GO UP ON SHORT SALES IN PHOENIX DURING JULY???
- 08/07/09 05:34 AM
I will be posting a blog the first week of each month, comparing "Traditional Listing" Sales vs. Short Sales in Phoenix. These numbers were just released two days ago by the Cromford Report. For the purpose of this blog, the term "Traditional Listing" refers to your typical "non-distressed" listing. A Short-Sale Listing, is, well, a Short-Sale Listing, whereby the Seller sells the home for less than what is owed on it. Let's dive into the numbers for July/2009 Phoenix Short Sales.... Phoenix Short Sale Listings vs. "Traditional" Listings-JULY/2009 Number of Active Phoenix Short Sale Listings: 2,267 (4% INCREASE over June) … (0 comments)
phoenix short sales: ATTN BUYERS: IS YOUR AGENT TELLING YOU TO STEER CLEAR OF SCOTTSDALE & PHOENIX SHORT SALES?
- 07/08/09 11:15 AM
If they are telling you to stay away from Scottsdale & Phoenix Short Sales, SHAME ON THEM! A recent study conducted by the Cromford Report shows that if you are avoiding short sales and only going after "traditional" listings, you are definitely missing the boat. Lets look at the following statistics for July.... Phoenix Short Sales vs. "Traditional" Listings Number of Active Phoenix Short Sale Listings: 2,187 Number of "Traditional" (i.e. non-distressed) Listings: 2,621 Number of Phoenix Short Sales Closed: 212 Number of "Traditional" Listings Sold: 431 Obviously, Buyers and their agents are staying away from short sales. Twice as many … (2 comments)
Bob Hertzog was most DEFINITELY the right choice to work with on the Short Sale of our home. Bob is very professional, knowledgeable and capable; ... more
5.0/5.0
by user802354
136489
Bob is straight forward and looks out for his clients' best interest. He is very aware of market trends and property availability in Paradise Valley, ... more
5.0/5.0
by Sarah_S_Scott
135302
Bob was "with us" the whole way. From the beginning, when describing the process, to the end, when countering the bank's ridiculous offer, I felt ... more
Expiration of the 2007 Mortgage Debt Relief Act, and It's Effect On Phoenix Short Sale Homeowners
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