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short sale: Will I have the “American Dream” again?? - 12/12/10 11:58 AM
December 12, 2010
I recently received an email from a person who was very distraught over the necessity of having to go through a short sale. The simple fact of needing the short sale was very upsetting to her, but she was also upset over the fact that she was told that she would not be able to own a home again for at least 5 years!!!
I was shocked when she said that to me.
I asked her who told her such a thing? She informed me that her bank had indicated that to her.
That left me thinking … (5 comments)
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short sale: Short Sales are time consumming and intense BUT uneducated or lazy agents make them tough! - 12/07/10 05:29 AM
At this very moment I have 23 active short sale files.
I just wanted to let that sentence sink in. Give it the attention and thought that it deserves. That is a good number of active short sale files. Not bragging or looking for accolades just want you to realize how many files I work on at once so that you possibly can see why an agent who doesn't want to listen to how the process is OR an agent who just wants to play "pass the buck" is truly an unnecessary nuisance in this market.
A short sale is … (7 comments)
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short sale: My journey thru one of my recent short sales - 12/04/10 10:05 AM
As most of my readers know by now I specialize in short sales. Many agents claim to be an expert but when asked to show their numbers or show professional referrals, they cannot. I handle the short sales for many agents in my office as well as for several local attorneys, and have even stepped in to assist agents in other brokerage firms.
Yes, I now have sufficiently patted myself on the back )!!!!!
Well, my experiences with a recent short sale left me out of wind and even speechless (and anybody who is laughing thinking there is NO way I was … (4 comments)
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short sale: Foreclosure Sales down for Quarter 2 - 09/30/10 01:57 PM
According to an Inman News Report foreclosure sales (properties that are purchased either already bank owned OR have already started the foreclosure process and need lender approval) have dropped 4.9% from Quarter 1 and over 20% from the same quarter last year.
Is that a sign that we are on the mend?????? Not quite yet. The numbers showed a decline due to the total number of sales jumping so much in the 2nd quarter due to the impending expiration of the tax credit. Many more thousands of units sold which put the numbers of foreclosure sales as a smaller percentage.
Massachusetts … (2 comments)
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short sale: Taunton MA Foreclosure Deficiency - 07/26/10 02:47 PM
Many states allow lenders to chase you down for the deficiency balance after they foreclose on your home. Knowing whether they can come after you and if they are more than likely to do so, may change your mind on what to do with your home if your are upside down. For a more in-depth guide on the process in Massachusetts please click on Help ME AVOID FORECLOSURE
The following is a list of states and there laws on deficiency judgements on foreclosures. Please do not use this as a SOLE reference or construe it as legal advice.
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short sale: Short Sale vs Foreclosure - 07/25/10 08:45 PM
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short sale: The Mortgage Bankers Association Interview - 03/12/09 06:54 AM
The real estate market in Massachusetts is not nearly as bad as the National Media likes to report. In fact, Massachusetts ranks the the TOP 10 (#7) of the Best Real Estate Markets in the nation. The foreclosure rate in Massachusetts is not even in the top 15 of the highest in the nation. So, having the correct facts at hand paints a different picture of the real estate market that we are in locally.
That being said we are still having a very real problem with the short sales. The horrendous and painfully slow pace at which they operate is putting … (5 comments)
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short sale: Fannie Mae Pilot Short Sale project - 01/10/09 06:56 AM
As an agent that has successfully closed MANY short sales my curiosity was piqued when I read the article in the Realtor Magazine today about a Short Sale pilot program.
"Fannie Mae has launched pilot projects in Phoenix and Orlando intended to reduce foreclosures by pre-approving short sales, agreeing on a price and the loss it will take prior to a deal even being made."
Have any agents come across this yet? If so, has it really expedited the process? The article goes on to say they are working with Countrywide Loans on this. Considering they are amongst the slowest to approve … (9 comments)
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short sale: Help me and a customer on the tax implications of a short sale vs. foreclosure - 11/07/08 07:08 AM
I do a great many short sales in my area, an unfortunate result of the economic situation. I am aware of the Mortgage Debt Forgiveness Act http://www.irs.gov/individuals/article/0,,id=179414,00.html
I know I am not a lawyer or a tax specialist and never advise clients on the possible ramifications, I advise them to seek advise from the appropriate professionals and also have a disclosure notice signed that indicates that as well.
It has been brought to my attention recently that a few attorneys are indicating that a foreclosure will not result in tax implications.
My reading of the first paragraph of the Act:
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short sale: Don't Become One of These Numbers - 07/30/08 07:18 AM
Below is an article I have copied from today's Banker and Tradesman Alert. Our market as you know is in crisis....but you do NOT have to destroy your credit and your pride with a foreclosure!
Call me to see if your situation qualifies for a Short Sale.
There is absolutely no guarantee that the lender will aprticipate in the short sale process or that they can do it in a time frame that is acceptable to the average buyer, however one thing is a guarantee - if you don't make your payments for whatever the reasons the bank WILL foreclose on … (0 comments)
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short sale: What EXACTLY IS your job as a Buyers Agent??? - 05/04/08 04:22 PM
Several days ago I posted a blog regarding short sales and the fact of advertising it in MLS. In my area we are required to notify prospective buyers and their agents about a home being a short sale. Why???? An agent has the right and the obligation to know and disclose that to a prospective purchaser, but does the general public have that same right???
I want to know what is the Buyers agents opinion of their responsibility. Isn't it their job to research homes prior to setting up the showings to make sure it can meet their buyers expectations or needs? … (3 comments)
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short sale: Our single office is in the top 1% Nationally by RIS Media - 04/30/08 07:03 AM
I just wanted to take a moment and let people know just how strong the office I am affiliated with is! This is also a statement to show how skilled, competent, and aggressive the agents affiliated with this office are!!RIS Media's Power Broker Report named Keller Williams Realty Easton, MA as one the top 500 offices in the USA. With over 50,000 real estate offices, being in the top 1% Nationally shows we are very strong in knowledge , experience, local trends and getting it done for consumers. Consumers do not need to pay extra to get the best!!
Bobbie FilesREALTORwww.BerkleyMass.com
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short sale: A nice custom home that is NOT a short sale!!!! - 04/28/08 06:49 AM
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short sale: The seller is broke - FIRE SALE!!! - 04/27/08 05:12 PM
Why do short sales get "advertised" in MLS? I understand that the buyer needs to be notified of the situation prior to an offer, but putting the remark in MLS is like placing a scarlet letter on the home and the seller. The "subject to 3rd party approval" comment is screaming that the sellers are in financial trouble. Shouldn't that be considered personal information? I absolutely continue to market and solicit for additional offers without approval of ANY offer from my sellers until the bank approves the short sale. All buyers and agents are notified in writing of this upfront.
My concern … (14 comments)
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short sale: Is a bad mortgage or buying "high" the only cause for foreclosures?? - 04/27/08 03:01 PM
March finished out to have over 3,000 homes foreclosed upon. This is more than what was forecasted and one of the highest numbers seen in several decades.
Petitions to foreclose have also seen a more than 150% increase since the same time last year. Scary news!!
The homeowners I have been meeting with lately are all in some sort of financial trouble, very few with equity, but all having trouble paying the bills.
What I am finding out is that most of the homeowners truly would like to keep their homes, but the cost of owning them is outpacing their income. It is … (5 comments)
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short sale: BERKLEY - MARKET REPORT MARCH 2008 - 04/12/08 11:34 AM
Berkley, MATotal Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from March 1, 2008- March 31,2008.Single Family HomesNumber of Homes on Market 48 (UP 2 since last report)Average Days on the Market 147Number of Homes U.A.G 7Average Price of U.A.G. Homes $349,814Number of Homes Sold 3Average Sold Price $286,833 ~$180,000 As of March 8, 2008 ~$344,250 As of February 7, 2008 ~$349,000 As of January 8, 2008 ~$262,442 As of December 9, 2007 ~$243,125 As of November 7, 2007 ~$645,500 As of October 4, 2007 ~$331,000 As of Sept.1, 2007 ~$349,073 AS OF AUG. 4, 2007 ~$356,473 AS OF … (0 comments)
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short sale: Homes Sales and prices dropping at staggering rates - 03/26/08 06:53 AM
This chart recently released from Banker and Tradesman clearly shows the decrease in the number of sales from last year to this year. On average in the state sale prices have dropped 9% since the same time last year, locally we have seen more of a 13% - 15% decrease.The price drop is the steepest monthly decline in 18 years, according to The Warren Group, parent company of Banker & Tradesman. Some analysts predict that market conditions will continue to deteriorate, as foreclosure activity mounts and more homes are sold at discount prices.
It's a simple supply-and-demand situation. We have an … (6 comments)
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short sale: BERKLEY - MARKET REPORT FEBRUARY 2008 - 03/07/08 05:27 PM
Berkley, MATotal Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from February 1, 2008- February 29,2008.Single Family HomesNumber of Homes on Market 46 (UP 4 since last report)Average Days on the Market 143Number of Homes U.A.G 1Average Price of U.A.G. Homes $306,400Number of Homes Sold 1Average Sold Price $180,000 ~$344,250 As of February 7, 2008 ~$349,000 As of January 8, 2008 ~$262,442 As of December 9, 2007 ~ $243,125 As of November 7, 2007 ~ $645,500 As of October 4, 2007 ~ $331,000 As of Sept.1, 2007 ~ $349,073 AS OF AUG. 4, 2007 ~ … (0 comments)
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short sale: 100% Increase in Foreclosures in Bristol County - 02/27/08 12:08 PM
According to Banker and Tradesman there was a 100% increase in the amount of foreclosures in Bristol County in January 2008 in comparison to January 2007. The foreclosures place a tremendous downward pressure on home prices.
SOLUTION......if you know of anyone who is in a situation where they may be facing foreclosure have them contact me. As the area specialist in Short Sale Negotiations I may be able to assist them in preventing the foreclosure on their home. A short sale is a win-win for all parties.
Contact me at bobbiefiles@kw.com or call me on my cell phone at 508-789-0217.
Visit www.berkleymass.com or … (0 comments)
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short sale: The Berkley / Dighton Bridge - 01/21/08 07:06 AM
Again, the condition of this decomposed ,dysfunctional bridge made the newspaper. Talk - Talk - Talk that's what the 2 Towns Board Members keep doing....
When are they going to take some action????
I have read and have been told more times than I can actually count how bad off and dangerous that bridge is, at any given point it could collapse. This has been going on, to my knowledge, for over 13 years. Yes, OVER 13 years!!
In that amount of time new infrastructure could have been completed. A new route created. A new plan agreed to. Dog gone it The Big Dig was … (0 comments)
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Bobbie Files Realtor® Berkley, Greater Taunton Homes for Sale
Taunton,
MA
More about me…
Keller Williams Realty
Address: 574 Washington Street, South Easton, MA, 02375
Office Phone: (508) 238-5000 x 296
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Real estate information about the Taunton, Greater Taunton, Berkley area. Market Reports, homes for sale, and just some fun information from Bobbie Files, REALTOR, Keller Williams Realty.
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