Michelle 's Blog

I'M back

Michelle Way ABR GRI WCR (Pro Realty) — Fri, 13 Nov 2009 19:50:23 -0600

Hi Everyone,

It's been a while and I have missed you all. The market REALLY changed her in MS. So of course there were only a few options in my opinion.

1. Quit

2. Worker twice as hard and make half the money

3. Get a part time job.

Well I did 2 and 3.

Thanks for all of your support!!!!!

Tax relief on short sales

Michelle Way ABR GRI WCR (Pro Realty) — Wed, 11 Feb 2009 18:45:41 -0600

I received a call today from a seller on a short sale that I had done last year. The pay off was 99500 and we closed for 80000 minus commission. They sent her a 1099 in the mail for the difference. I told her that she needed to at the time of listing property speak to a CPA concerning the amount that the bank would be loosing doing the short sale. Of course she didn't........ So when she went to do her taxes. She was under the impression that this was going to help her get back more money...... So she calls when she finds out that this amount is taxable. Do I tell her about the ACT and the 982 form that they can fill out?

My seller is a out of work builder.....

Michelle Way ABR GRI WCR (Pro Realty) — Mon, 09 Feb 2009 17:32:11 -0600

Got a listing that is a big home just needs a little work. The problem is the seller is a home builder with inventor he is trying to sell and will not list property with an agent. So here is where the problem comes into play. He sits around the house waiting on agents to show the house. Then he hounds the people and the agents. I spoke to him very kindly concerning doing this. I asked him not to be there when the house is being shown. Just got a call from a Real Estate agent. She stated he was pushy and all over them while she was showing the home. Even wanted to take them to show the other homes that he has built. The listing is a really good one and I don't want to loose it.

I was contacted by scam artist

Michelle Way ABR GRI WCR (Pro Realty) — Wed, 28 Jan 2009 18:47:55 -0600

This is something everyone needs to read. Tonight I was watching the news and a strange number came across my screen. It was help now modification. The gentlemen on the phone had received my number from a fellow Realtor. He gave me his pitch about how he could lower my interest rate to 5.125 for a thirty year fixed no closing cost no credit check. WOW!!!!! Here is the kicker all you have to do is send us 1500.........( Lightbulb) There is a company called HOPENOW that helps people for free. And what's your name again..... www.hopenowmod.com...... Wow these companies are popping up everywhere. Please let the consumer know if they are calling you at 530 in the afternoon wanting 1500 to do something that any any foreclosure letter it has on there www.hopenow.com will do for free they are scam artist. Most of these people are just looking for people that are behind and need help and they take advantage of them. Look at how close the name and web site is..... SAD There is a special place for people who try to get over on people.

Short Sale Business

Michelle Way ABR GRI WCR (Pro Realty) — Thu, 22 Jan 2009 22:19:41 -0600

In this market I learn early on how to do a successful short. Around the middle of last year I got really burned out on the whole process. What I am coming to understand is this is my niche. The one thing that I do in our market that separates me from the other Realtor. I just need some helpful hints on getting them closed faster. I have never had one fail.... Just take so long to close. Does anyone have any suggestions?

Finally got my short dale approved....

Michelle Way ABR GRI WCR (Pro Realty) — Tue, 28 Oct 2008 17:02:57 -0500

I've been working a short sale with ountrywide since Feb. 2008. I finally received an approval... That sounds great get it closed. No wrong!!! These smart people didn't put my commission on the approval... Okay, So I have contacted them numerous times to get this corrected. Now it has to go through review again... Has anyone every had this happen before? I asked could they give me a time frame because we were wanting to close by the end of the month...

Foreclosed home stripped???

Michelle Way ABR GRI WCR (Pro Realty) — Sat, 04 Oct 2008 19:32:55 -0500

For the past 2 weeks I have been working on a foreclosure. This home was in move in condition. Just needed a good cleaning. Ok, today my buyer calls. She drove past home and the front door was wide open??? So I advised her to close door and lock it. When she looked in home the lights fixtures were missing so she went in home. The kitchen sink was missing, toilet was missing and the list goes on.... I have never had this happen before. What do you do in this situation. We now have a fully executed contract?

Short Sale first offer wrote in Feb. 2008

Michelle Way ABR GRI WCR (Pro Realty) — Tue, 23 Sep 2008 15:38:26 -0500

Sometimes you just have to vent... No one in my home or office will understand this. I have a short sale on a property that is on the market for 80000. The first offer was sent to the bank on Feb 23,2008. Since that time I have made numerous phone calls, been on hold for over an hour at a time, been told it is still under review, they have ordered 4 payoffs and still to this date we do not have a fully executed contract. I've had numerous offers from high ball to to low that I have made sellers net sheets for and had attorney to prepare a prelim HUD1. My frustration comes in when I look at my check after broker, company fee, advertising and the list goes on as well as you know. Was it worth it?

Controlling your 17 year is like Controlling the Country?

Michelle Way ABR GRI WCR (Pro Realty) — Tue, 02 Sep 2008 14:10:45 -0500

In recent news we have all learned about Palin's 17 year old daughter being 5 months pregnant. Now being a mother of a teenager I understand that kids are going to do whatever they want regardless of what we as parents tell them. However, there is a level of control that every parent should have with their kids.... Teen sex is not anything new but were was here mom to discuss protection from not just having a baby but also STD's? If a person can't control her personal home what makes us as AMERICANS think she can control the country.

Agent or Area???

Michelle Way ABR GRI WCR (Pro Realty) — Thu, 10 Jul 2008 14:37:41 -0500

Here recently I have seen a few agents get out of Real Estate and others move to other offices. In the past few weeks I have seen agents move to more high dollar areas. Some of the comments have been because the homes are more expensive they feel that they can make more money. When I pulled the MLS on closed properties these area are hurting the most. There are more FORECLOSURE in the high dollar areas and more homes on the market than the areas they are transferring out of. So is it the person or is it the area. Me personally I would rather consistantly get checks than to wait on the big checks.

Short Sales

Michelle Way ABR GRI WCR (Pro Realty) — Fri, 20 Jun 2008 11:16:27 -0500

The other day I went to a short sale clinic. First of all the speaker was a loan originator?????? Okay well.... Anyway,he gave us some basic information concerning short sales.I am not sure but I think half of the information was not accurate. Do you as a Real Estate agent order the appraisal upon listing the property. I had never heard of that before. Normally with all the ones I have done the banks wants to see comps. and they order the appraisal. Please help me if I am wrong. As another thing was that they can go from start to finish in 10 days. I have one with Countrywide I have been working on since Feb 2008 and we still don't have an answer and they have had the title and BPO for a month.

Agents Please Get Trained

Michelle Way ABR GRI WCR (Pro Realty) — Wed, 18 Jun 2008 14:25:55 -0500

I know that in this market everything shining is GOLD. It's not IN REAL ESTATE TRAINING IS EVERYTHING. When I first got in the business I was offered MUCH HIGHER COMMISSIONS with smaller companies that didn't offer training. The MAJOR problem is.... You can represent your clients without proper training. A home is the single most important transaction a person will make ever why trust it to someone that is not trained. Yes in this business we can learn something everyday. Why learn at someone else expense. I strongly disagree with NEW agent starting with companies just for the HIGHER commission.It is not MY job to train you assisting you is wonderful. I love to help !!!!!!!

Does Realtor Open Houses Work

Michelle Way ABR GRI WCR (Pro Realty) — Sun, 15 Jun 2008 18:41:53 -0500

The other day I went to a Realtor Open House strckly for the lunch and the chance to win 25.00 and foretunate for me I received both. It made me think..... Why do we do these things that are going giving Realtor's free lunch and making the sellers happy. I have had many Realtor Open Houses and I have never sold a single property from one. Has anyone?

When it comes to short sale......

Michelle Way ABR GRI WCR (Pro Realty) — Thu, 29 May 2008 16:42:35 -0500

When it comes to short sales I have had success. Still learning all the outs and ins to the process. When you have a buyer that is approved FHA and needing Ameridream down payment assistance will the banks agree to assist with this? Got a home that is really cute and perfect for this little lady but she needs down payment assistance and I really want to help her.

Bad or Good advice?

Michelle Way ABR GRI WCR (Pro Realty) — Thu, 29 May 2008 15:41:09 -0500

Bad or Good advice you be the judge. New agent that has never had a closing called on a listing that is a short sale... Wow, I joked and told her this may not be what you want your first Real Estate experience doing... Anyway, she brand new we have all been there. Wants to write an offer. She works for SNOB Real Estate and of course the only thing closing in our market now is cheaper homes. So on with the story... She asked her broker about the process when it comes to short sale NEVER HEARD OF IT!!! Okay may be if they had it would be some money foreclosed properties in the HIGH end market but anyway. Her broker told her before you do anything with a foreclosure even write an offer to get a home inspection.... This home has nine offers and I told the agent that. What happens if your people don't get the winning offer. They are going to be upset that they spent that money. Make the offer contingent upon a home inspectiont that way if its not favorable they can always get out of it.... I told her to call the local board since her company was not familiar with the short sale process . Good or Bad advice?

Need help!!!!!

Michelle Way ABR GRI WCR (Pro Realty) — Wed, 21 May 2008 13:34:07 -0500

Got a homeowner that has made late payments and we are looking at the possibility of a short sale. However, they have a second mortgage is with another lender. What do I need to do. I have little to no experience with the whole second mortgage thing.

Need MORTGAGE HELP PLEASE!!!!!!

Michelle Way ABR GRI WCR (Pro Realty) — Tue, 20 May 2008 16:26:40 -0500

Got a buyer that has a 615 middle score. Not great but not bad . The only problem is during Hurricane Katrina the mortgage company let him miss a few payments. Then like everyone else he got a letter in the mail stating that he was past due 4 plus or negative months. They did an agreement to pay back the owed money but the payment was tooooooo high for him to afford. So the home foreclosed. Now its been 2 years and he is trying to seek financing and I need help directing him in the right path. Can someone in the buz HELP

I need help with Short Sales

Michelle Way ABR GRI WCR (Pro Realty) — Mon, 19 May 2008 10:50:19 -0500

Does anyone know anyone in Loss Mitigation in Wells Fargo and Countrywide. Here's the deal I have a few properties that are short sale. Some of them have been going on since Feb 23, 2008. I can't seem to get an answer from the default specialist in the mortgage companies. The only answer I get is the file is still under review. I have potential buyers backing out because I can't give them any information. Please if anyone knows an inside person please let me know.

Finding a Job in a slow market

Michelle Way ABR GRI WCR (Pro Realty) — Tue, 13 May 2008 20:53:25 -0500

Today I was at a local mall and I saw one of our areas TOP PRODUCER'S working for a mattress store. At first I thought the person was shopping but it quickly came apparent that this person was working. I asked that question that has become common in this market. Are you still selling Real Estate? The person replyed YES.I paused for a minute and this person said " It is really slow right now and I have bills and kids". I understand totally the market is better than its ever been with the low interest rates and the lower than appraised value home sales.So why is it so slow?

u1stfinancial?

Michelle Way ABR GRI WCR (Pro Realty) — Mon, 05 May 2008 15:14:00 -0500

Does anyone know about this company? I have been contact several times in the last three weeks by a representative of this company. This concept is very new to me and others around the area that I live in. From what I gather you can have your home loan paid off in half to a third time less than a regular mortgage. Can anyone help me better understand the process?

Which G can you do today?

Michelle Way ABR GRI WCR (Pro Realty) — Thu, 24 Apr 2008 11:35:43 -0500

This seems to be a common question in average house holds today. Which G today. The first G is Gas. The average price for regular here in MS 3.50 per gallon. The other G is Grocery. The other day I went in the grocery store and no one had a lot in their baskets. I make a nice living doing what I do and I had just enough food for us to eat that day. Times are really hard. The G's are taking away from our families. When is someone going to say enough is enough. With companies going out of business everyday WHY IS EXXON/MOBILE reporting RECORD profits. There is a special place in H_LL for these people.

Will the banks pay for ameridream

Michelle Way ABR GRI WCR (Pro Realty) — Wed, 16 Apr 2008 09:58:45 -0500

Doing a short sale and I can't get an answer it is just hold for this person and hold for this person. Does any one know the answer to this question. I have never had a short sale where the bank assisted with the downpayment before. Please someone HELP

She lied to keep the listing?

Michelle Way ABR GRI WCR (Pro Realty) — Thu, 28 Feb 2008 19:07:43 -0600

A home was on the market for 51 days. The seller starting getting behind on payments so they wanted information on this thing called short sale so many people are talking about. I had sold a friend of the family a home this way. He called me wanting basic information. He called the Real Estate Agent that had the home listed. Do you know how to do a short sale. Yes?????? So he gets an offer on the home. They get all the details worked out and the agent schedules it to close in less than two weeks?????? The friend calls me, Why did it take so long to close our deal. He says they are closing in two weeks?????? I was puzzled???? Wow that is awesome it normally takes much longer than that.

Two weeks past the friend calls me your not going to believe this. What?????? The agent had the people get a home inspection, appraiser has been done, title work has been completed. My response that is awesome. The friend, no its not. Me Y????? Because she never submitted anything to the lender???? WOW?????? She didn't know the process, she just knew that the banks would take less. She didn't know that they have to approve the short sale????? The buyers of the home had put their notice in. The seller had moved everything out. Moral to this story if you don't know BLOG!!!!!!!!

Express path financing???

Michelle Way ABR GRI WCR (Pro Realty) — Tue, 26 Feb 2008 15:32:20 -0600

First thing in the morning I am showing a home that is foreclosed. It has a comment about Express path financing. What is this. Does this mean the buyers get an incentive by using the lender that originally financed the home. Could someone in the activerain community take time out to help me.

Battered Real Estate Agents

Michelle Way ABR GRI WCR (Pro Realty) — Wed, 20 Feb 2008 20:33:23 -0600

In a market like today its is wonderful to be appreciated for what we do. I told my Broker the other day. He was a Battered Agent much like a Battered Women. When the market is fast pace. There are a lot of things we tend not to notice. Mostly because we are busy. When the market slows down and you have the same comments. We can HEAR them loud and clear. No one wants to feel like. YOU MADE THEM OR YOU WOULD BE NOTHING WITHOUT ME. So we tend to fall in the Battered Agent t-shirt. We make excuses for the attitudes, We make excuses for the comments and We make excuses for the abuser. Maybe he is having a bad day, Maybe I did something WRONG by bringing only one contract today opposed to three. If you think that making people feel bad about themselves makes you are smart person or superior. YOUR WRONG. When I was in Junior High a very wise girl named Jeana gave me a plaque that stated simply The one that laughs first always laughs last. So just because you are kicking people when they are down. Doesn't mean that they will be down forever..... You can take that to the bank and cash it.