wwwfredvacom: Short Sale VS. Foreclosure - Which Is Worse?
- 03/09/08 06:55 AM
Short Sales. Foreclosures. Which is worse on a persons credit rating? Recently I was watching a program on one of the major news networks, and an "expert" was explaining how a Short Sale was just as bad on a persons credit rating as a Foreclosure. Maybe, but maybe not? If a person is Foreclosed on, I would assume that it goes on a credit report as just that; a Foreclosure. But what if it is a Short Sale? Let's say you actually get it to closing; I know - we all know the odds of that happening are pretty low. But say you do … (13 comments)
wwwfredvacom: Multiple Offers And What It Means For The Market
- 03/03/08 10:49 AM
I've noticed a distinct change in the market. When placing listings in the MRIS, I always put "call first" in the showing instructions. Usually the showing agent makes the courtesy call, we make some small talk, and I take the opportunity to discuss some of the properties highlights, and that is pretty much it. But that has all changed. It seems that with most of the calls that I have gotten in the last few weeks start out with the same question. "Is it still available, and do you have any offers in on it?" So, there is a lot of talk about … (13 comments)
wwwfredvacom: Homes For Sale In The Fredericksburg & Northern Virginia Area Priced Under $200,000
- 02/27/08 10:02 AM
Think there are no deals out there? Think again! The Wallace & McGrath Team has a number of homes priced under $200,000 in the Fredericksburg Virginia and surrounding areas. Please visit our website - www.fredva.com for more property information. New properties coming on the market every day.
102 Hill Street Fredericksburg VA $163,900 1732 Dulcinea Place Woodbridge, VA $175,500 259 Manchester Drive Ruther Glen, VA $179,900 805 Forest Avenue Mineral, VA $189,900 1920 Coppersmith Terrace Woodbridge, VA $189,900 4532 Mine Road Fredericksburg, VA $189,900 26522 North Anna Drive Ruther Glen, VA $194,900 3545 Forestdale Avenue Woodbridge, VA … (0 comments)
wwwfredvacom: REO Timelines - Why Are They So Long?
- 02/26/08 10:16 AM
I hear a lot of horror stories about Foreclosures & REO's and the time it takes to get answers to offers and to get a contract Ratified. Days to get an answer. Weeks even. A month to get Ratified. All sorts of things. I do a fair amount of REO's, and I have not, at least on the listing side, ever had this problem. The most I have ever had to wait for an answer to an offer was 48 hours, and that was only because the Asset Manager was out of the office. I have never had it take more than … (5 comments)
wwwfredvacom: The Offers That Come In - And How Different They Can Be
- 02/09/08 10:54 AM
Some days it feels like the market is swinging like Tarzan on a vine as he chases Jane through the jungle. I have noticed some interesting patterns recently, but I can't say that I have an explanation for them. Two weeks ago, it seemed as if every contract I saw was a full list, or more, and some had escalation clauses. Some were foreclosures, some were not. Last week, I see lot of offers again, yet this time I see a rash of low-ball offers. Like $100,000 low on a $350,000 property. Someone has been watching too much TV. Sometimes it feels as if … (9 comments)
wwwfredvacom: ACTIVE RAIN - I Need A Vegas Hotel Recommendation
- 02/09/08 06:06 AM
My son turned 18 last week, and I was having a pretty hard time coming up with an idea for a present. As usual, to the rescue, comes my wife. She reminds me that I can buy him anything, but memories are forever. Vegas, here we come. So I booked the flight (my wife works for a major airline, so this part is easy, and cheap), bought poncho tickets for the Blue Man Group, and we head out Monday morning. Last time I went I stayed at Bally's, and it was fine, but who wants to stay the same place twice? So … (4 comments)
Short Sales. Foreclosures. Which is worse on a persons credit rating?
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