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foreclosure: Dallas Foreclosures: The Good, The Bad and The Ugly! - 07/19/09 09:52 PM
The Good:
In this past Friday's Dallas Morning News, Real Estate Editor, Steve Brown reported that for the first time in five months, that foreclosures in the DFW area have dropped below 5,000. For the North Texas area including Dallas, Tarrant, Collin and Denton counties, the August 4 foreclosure auction will include 4,796 properties according to the statistics provided to the Dallas Morning News by Foreclosure Listing Service.
The Bad:
Also according to the Dallas Morning News, while month to month, we have seen a drop in the number of properties posted for foreclosure, the 4,796 number still represents an … (6 comments)
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foreclosure: The Texas Senate says: "Slow Down the Foreclosure Process!" - 04/25/09 09:00 PM
The Texas Senate, this week, passed a bill which would change the Foreclosure process for Texas homeowners. The Bill, which was passed, will require that:
Homeowners be given 45 days notice in advance of a foreclosure sale of their home, an increase from the current 20 day requirement; Lenders must contact the borrower by telephone or in person; Homeowners facing foreclosure be informed of their rights and options, as well as be warned about foreclosure rescue scams; Homeowners foreclosed on must be given 30 days to vacate a property; Renters in a foreclosed property must be given 60 days to vacate. … (8 comments)
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foreclosure: Real Estate Fraud… What were you thinking? - 06/28/08 11:54 PM
In my business dealings as a short sale specialist I hear a lot of interesting stories. I am AMAZED at how many calls each week I get from people who have been victims of real estate and/or mortgage fraud. They really are victims... because these people's lives have been totally turned upside down. The stories are all similar, and most leave me wanting to ask, "What were you thinking when you signed those papers?"
I have had Short Sale clients who bought homes as investments sight unseen. I have had clients who bought homes after being approached by "a friend of a … (12 comments)
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foreclosure: Dallas area Foreclosure Outlook Dreary - 12/14/07 07:32 PM
Several stories in various media outlets today have reported frightening foreclosure statistics for the Dallas / Fort Worth area. Hopefully anyone who may be impacted and who qualifies for a Short Sale is exploring that option. Some of the regional numbers reported indicated an expected 30% year-over-year increase in the forecast for January.
According to some of the stories, Denton and Tarrant Counties are expected to see increases while for Dallas and Collin Counties the rates are expected to be even or even slightly lower. In addition to Dallas County, I have also worked listings in both Denton and Tarrant counties this year and based on what I experienced personally, these numbers are … (3 comments)
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foreclosure: 3 Short Sale Questions - 12/11/07 04:36 PM
As a response to one of my other Blog postings, Angela Martinez asked me the following questions:
"Over the past year or so "Short Sales" have become more & more common in my area (Contra Costa County, California.) I have participated in several. Some successsful, some not so successful.
1. What training would you recomend?
2. What is your best advise when working with the Lender's?
3. Have you found a rule of thumb as to what Lender's will except or not. (i.e. How short will they go.)"
I thought since we are a community and we might all have different insights/opinions that Angela … (4 comments)
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foreclosure: Be Smart: Make the Right choice, not the Easy one. - 12/09/07 02:27 PM
I like Gail Tassey's Blog here on AR. She had a posting on Friday titled "Go ahead Tiger Sell it yourself". It was a relatively short posting but really got me thinking. Real Estate seems to be one of the few business situations where many people base their choice regarding representation on non-business criteria.
I had a prospective Short Sale listing client interview me last week. She is in a bad situation and needs significant assistance and based on what she shared with me, she needs it FAST! She is almost out of time and I am confident I could help her (and told … (6 comments)
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foreclosure: Mortgage Bailout Plan - Basic Facts & Perspective - 12/08/07 03:51 PM
Since Thursday's announcement of the government's mortgage bailout plan I have received numerous phone calls from distressed home owners asking if this plan will allow them to keep their homes and avoid foreclosure. The short answer to that question is "maybe", but for the majority of homeowners considering a Short Sale the answer is "probably not".
There have been many news accounts of the plan that was presented yesterday. You would be hard pressed not to be able to find an accurate reporting of the announcement in your local newspaper today or on any of the major internet news websites, but … (2 comments)
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foreclosure: Take 2 Aspirin and call a Short Sale Specialist! - 11/17/07 01:01 PM
I recently saw another agent who specializes in Short Sales suggest that not every agent who works Short Sale transactions has the ability to conduct them properly. I believe that this is only the case if they do not prepare themselves properly. Unfortunately many do not and try to navigate the Short Sale terrain without the right knowledge or a good map!
Short Sales are definitely a niche market and definitely require some sort of training, experience, guidance or mentoring to understand and work properly (assuming you have your client's best interest at heart). Any agent can get the training or guidance … (15 comments)
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foreclosure: Short sales & foreclosures: As Nevada goes, so goes the nation? - 11/16/07 04:48 PM
I've already confessed that I'm a news junkie (Is there a 12-step program for that?) and that I listen to a lot of National Public Radio, so I won't get into that again. What I will mention is that I love that our local public radio station (KERA 90.1 FM) broadcasts the audio portion of The NewsHour with Jim Lehrer and I can listen to it on my way home from the office every evening and that between this show and The Diane Rehm Show in the morning I come up with great topics to write about.
Las Vegas has been in … (6 comments)
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foreclosure: Corporate Profits, Short Sales & the Changing Market. - 11/13/07 03:42 PM
I was listening to the radio again this morning and heard a story about how Home Depot's quarterly profits were down 27% from the same period a year ago. While I know that many retailers are experiencing slower sales, (and I have heard that many expect this to be the worst December Holiday selling season in many years) what bothered me most about this story was the commentator's remarks about this being attributable to the slower real estate market and people not wanting to fix-up or repair their homes since prices are eroding and they aren't selling... talk about sending the … (3 comments)
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foreclosure: Home Values in a Changing Market - 11/12/07 12:38 PM
As a Realtor® one of the most common questions I get asked is "What is my house worth?" In my opinion, there are two reasonable answers to that question. One answer is that based on current knowledge or a market analysis, in your opinion their home is worth an approximate amount. The second answer (which is perhaps more accurate, if somewhat less precise) is that their house is worth what a buyer is willing to pay for it at that moment in time.
I love to be a part of any conversation at a social gathering when the topic of home prices … (5 comments)
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foreclosure: The Ripple Effect of Foreclosure - 11/09/07 10:42 PM
I have been listening to the radio a lot lately. I am definitely what some people would call a "news junkie", so it should not surprise anyone that I listen to a lot of National Public Radio. What prompted me to write this Blog posting is that the topic on one of the programs I listened to this week was the state of the mortgage industry and the ripple effect of foreclosures on the economy. One of the big economic impacts of foreclosures is their effect on non-foreclosure home prices in neighborhoods. As a real estate agent, I recently sold a client's … (10 comments)
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Steve Shatsky - Dallas Real Estate & Short Sale Specialist (214)213-0340
Dallas,
TX
More about me…
Prudential Texas Properties
Address: 3838 Oak Lawn Avenue, Suite 250, Dallas, TX, 75219
Office Phone: (214) 213-0340
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