short sales: 9 Steps Of Every Los Angeles, CA Short Sale - 05/03/12 04:51 PM
If you find yourself unable to avoid foreclosure, and cannot find any other option – loan modification, refinancing, etc. – getting your lender’s approval for a short sale may be the best alternative for you. However, the short sale process is sort of complicated, and changes depending on your specific situation and your lender’s requirements. Here are the basic steps you need to go through in order to get a lender-approved short sale. By following Step 3 (hiring me), I will help and guide you in preparing all the required documents for your lender and will directly follow-up on your … (1 comments)
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short sales: Real Estate News | Bulk Foreclosure Sales Could Cause Bigger Bank Write-Downs - 01/19/12 05:10 PM
While the government, federal regulators and large private investors try to work out a plan for mass sales of foreclosed homes, large banks are already making deals, but they are not many, and still not close to having a solution.
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short sales: Who Profits From Short Sales? Spreading Around Short Sale Profits - 12/23/11 08:38 PM
For home sellers who owe more on a mortgage than what their home is presently worth, it is not as hopeless as it might seem. Negotiating a short sale with the bank can and may be the best answer to their problem.
This means that the seller or their agent sells the underwater property to a potential buyer at, or just a little below its market value, and the bank agrees to take the proceeds from the sale (purchase price minus closing costs) as payment in full on the loan, even if the sales price is less than the existing … (4 comments)
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short sales: Top 5 Reasons Banks Reject Short Sale Offers - 11/17/11 11:54 AM
No one – not the buyer’s agent, the listing agent, nor the seller – actually knows for sure if a short sale offer will be rejected or accepted by the bank until the bank agrees to accept it directly. Just because a property is marketed as a short sale, it does not mean that it will sell as a short sale. It just means that the listing agent and seller expect that it will sell as a short sale and the bank will accept the offer from the potential buyer....continue reading … (1 comments)
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short sales: If You Are Contemplating Bankruptcy You Should Probably Consider A Short Sale - 11/02/11 01:22 PM
Today I wanted to talk to you about bankruptcy. I have met with homeowners in the past, who were struggling with their mortgage payments, and have considered filing for bankruptcy in order to avoid the foreclosure process. Even if this may be the best option for your current financial situation, I suggest that you meet with a bankruptcy lawyer before you do anything, in order for you to know for sure. But I also wanted you to think about this: If the biggest debt or the only large thing that you owe as of the present is your home, completing … (2 comments)
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short sales: 5 Things Buyers Should Know About Short Sales and REOs - 10/14/11 03:45 PM
Isn’t it exciting and tempting when we hear about “hot”, “amazing,” “smokin’” or “crazy” deals? We often hear and read about them in the real estate world. This is the hype that surrounds short-sales and foreclosed, bank-owned homes....continue reading
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short sales: How Your Home Will Be Valued While Completing A Short Sale - 07/22/11 12:31 PM
Today I want to talk about what you should expect when working with your bank on a short sale. One of the most common questions I usually get when speaking with potential clients is always about how much money the bank will want; or if the bank will accept the difference between what their home sells for and what they owe the bank.When I list a short sale property, I don’t look at what is owed to the bank for your property. What I’m concerned about is finding a fair market value for your property. A fair market value for your … (0 comments)
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short sales: Santa Monica Short Sale - 06/29/11 01:38 PM
Santa Monica Short Sale
Do you owe more than your home is currently worth and you need to sell your home? If so a real estate short sale may be the service you need. I’m a Santa Monica short sale agent. I can help you analyze your current situation and help you make an informed decision.
What is Short Sale?
Many of my Santa Monica short sale clients ask me the same questions. A short sale occurs when the bank agrees to discount the amount you owe them in order to proceed with the sale of the property. This is happening … (1 comments)
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short sales: Short Sale Soap Box - Part II - 08/25/10 10:55 AM
I'm still on my Short Sale Soap Box...
Then there's the short sale BPO (Broker Price Opinion) process. The banks are of the belief that an out-of-area real estate agent who is willing to consume hours of their time to drive 60 miles to take photos, develop a market analysis that declares market value and turn their report around in 24 hours for 50 bucks is a better choice than hiring a certified appraiser BECAUSE IT'S CHEAPER THAN ORDERING AN APPRAISAL.
I've made it a point to show up for every BPO on my short sales to provide the BPO agent with … (0 comments)
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short sales: Short Sale Soap Box - Part 1 - 08/24/10 01:19 PM
Ah...the World of Short Sales is fraught with problems. As I write this, I think to myself: THIS IS AN UNDERSTATEMENT! We aren't just running into problems with the banks, we're running into what could be described as OUR WORST NIGHTMARES!
Lenders are defying logic and denying short sales where the seller is demonstratedly distressed and in a severe financial hardship...can you say...Government incentives mean more to the banks than giving homeowners trying to get on with their lives a break?
Then there's the fact that Junior (2nd) lienholders are blocking short sales by requiring a greater contribution than the 1st … (3 comments)
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short sales: Santa Monica Real Estate Agent Teams Up to Help Underwater Home Owners - 03/18/09 12:19 PM
I have been working very hard to line up the very best possible team of trusted advisors and experts to help sellers in today's tough economic climate. Home owners that want to sell their home but owe more money that what the house can sell for need to call me right away!
My team and I can help you sell your home and:
* walk away whole, keeping your existing money. * owe your mortgage lender nothing. * keep your tax situation as-is. * salvage your credit history. * be treated with the utmost respect. Our services are FREE to any home owner. … (0 comments)
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short sales: Avoiding Westside LA Real Estate Foreclosure In Uncertain Times - 02/25/09 05:46 PM
The real estate market here on the Westside of Los Angeles remains ‘transitional', with less than 6 months of supply. In anticipation of the possiblity of continued downturn through ‘09, I have just completed the CSP course and am now a Certified Short Sale Professional. Having represented both buyers and sellers through a short sale (also known as pre-foreclosure) transaction over the past year, I learned first-hand that they require a very specific skill set to manage successfully. When I learned about this Certification, I was keenly aware of the value of this advanced training and education, and I was not … (0 comments)
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short sales: What the Heck Is a Short Sale? - 02/24/09 01:00 PM
I can promise you that it's anything but a short transaction!
Simply put, a short sale (also referred to as a ‘pre-foreclosure'), involves the sale of real estate whereby the proceeds from the sale fall short of the balance owed on a loan secured by the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship that exists on the part of the owner/borrower. This negotiation is all done through communication with a bank's Loss Mitigation department.
The home owner/borrower sells the mortgaged property for less than the … (0 comments)
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