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mortgage: The Time Is Now!!! Do Not Delay The Short Sale Process Any Longer!!! Advice from a short sale listing agent in Greenville, SC - 11/15/11 04:08 PM
As a short sale listing agent in Greenville, SC I see and hear all types of scenarios, circumstances, excuses and even "strategies" with respect to how people think about and handle short sales.
My best advice is to not waste any time and don't overthink the process. Also, don't leverage a short sale innappropriately, as a way to play games with the mortgage lender and "buy more time" to stay in the house.
Here's why:
If you qualify for and you've chosen to pursue a short sale, it's safe to assume you're doing it because you care about your financial health, … (2 comments)
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mortgage: The Short Sale List Price Fairy Tale - A Case Study in Greenville, SC - 11/07/11 03:17 PM
I recently took another short sale listing, to help the homeowners avoid foreclosure. I ran the comps, reviewed the first and second mortgage loan payoff amounts and devised an intelligent starting list price. Additionally, my client clearly understood my recommended list price reduction strategy, based on a specific timeline, the surrounding active listings in the immediate area, the number of missed payments on the mortages and even seasonal market trends and short-term forecasts.
So, what happened when it came time to implement the first price reduction? My client disagreed with any such reduction and wanted the home to remain very close … (1 comments)
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mortgage: Gorgeous, Newer 5 Bedroom, 4 bathroom home for sale in Greenville, SC! Tanner Estates Subdivision, on Greenville's East Side, near Simpsonville, SC! - 10/19/11 01:58 PM
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mortgage: Why do Short Sales Typically Fail? Notes from a Short Sale Listing Agent in Greenville, SC - 08/17/10 09:45 AM
As a CDPE I often help clients avoid foreclosure by listing their home for sale and negotiating for a short sale approval from their lender. I've helped clients avoid foreclosure in Greenville, Simpsonville, Greer, Mauldin, Fountain Inn, Travelers Rest, Taylors and Easley, SC.
While Greenville and Simpsonville, SC hasn't suffered with distressed properties to the same degree as places like Florida, CA, AZ, Las Vegas, OH and Detroit, we certainly have had a noticeable increase in these types of distressed property listings.
I've noticed some of the most common reasons that short sales typically fail, or at least why any given … (2 comments)
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mortgage: Be Careful What You're Buying if You're Seeking The $8000 First Time Homebuyer Tax Credit - 10/18/09 07:55 PM
At this point, the bottom line is timing. Pure and simple! With only weeks left to capture the first time homebuyer tax credit, I've got people calling me who are interested in buying a short sale or a fixer upper. Not exactly a good idea, if you really want to close on time and get the $8000 tax credit!
Nobody can control the speed at which the bank will respond to a short sale scenario. Also, a fixer upper property can throw things sideways by the time the appraisal report gets done. You can have a valuation issue, or some other … (1 comments)
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mortgage: HOMEBUYER ALERT! $8000 First Time Homebuyer Tax Credit is Just the Beginning of Savings in Greenville, SC - 08/18/09 09:15 AM
Every week I'm receiving phone calls from excited first time homebuyers in Greenville, SC who want to cash in on the $8000 tax credit incentive. Every time I meet with these excited homebuyers I'm helping them to understand that there are more incentives to be enjoyed, if they recognize the "playing field" they are on and leverage it to their benefit.
Here are some of the things to be considered while shopping for a home in Greenville, SC:
$8000 First Time Homebuyer Tax Credit It's a buyer's market right now in Greenville, SC...leverage this reality to buy a home below fair … (2 comments)
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mortgage: Charming, Elegant, American House on the Hill Bed and Breakfast in Greater Greenville, SC - 07/04/09 11:35 PM
Today I had the pleasure of visiting my friend's bed and breakfast in the Greater Greenville, SC area. Wow! What an amazing home! This place was built in 1836 and originally had over 300 acres that belonged to the family who owned the home. I love the fact that such treasures and such wonderful history are a part of our local culture in the Greenville area. If you have friends, family or business associates visiting Greenville in the future, please consider recommending the American House on the Hill B&B to them. I'm certain it will be a unique and enjoyable experience … (1 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Deficiency Judgment - Greenville, SC Real Estate - 05/12/09 02:08 PM
FORECLOSURE VS. SHORT SALE
Homeowner Consequences
Issue/Topic:Deficiency JudgmentForeclosure:Deficiency Judgement: In 100% of foreclosures (except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment.
Deficiency Judgment Amount: In a foreclosure the home will have to go through an REO process if it does not sell at auction. In most cases this will result in a lower sales price and longer time to sale in a declining market. This will result in a higher possible deficiency judgment.Successful Short Sale:Deficiency Judgment: In some successful short sales it is possible to convince the lender to … (0 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Future Employment - Greenville, SC Real Estate - 05/12/09 01:41 PM
FORECLOSURE VS. SHORT SALE
Homeowner Consequences
Issue/Topic:Future EmploymentForeclosure:Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.Successful Short Sale:A short sale is not reported on a credit report and is therefore not a challenge to employment.
For a FREE Home Search and to view the latest active listings,
Go to: www.upstatehomesearch.com
For a FREE list of foreclosure and “fixer-upper” distress properties,
Go to: www.hotforeclosurereport.com
Join our VIP Homebuyer Club and get up to … (0 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Current Employment - Greenville, SC Real Estate - 05/12/09 01:31 PM
FORECLOSURE VS. SHORT SALE
Homeowner Consequences
Issue/Topic:Current EmploymentForeclosure:Employers have the right to check and are actively checking regularly the credit of employees who are in sensitive positions. A foreclosure in many cases is grounds for immediate reassignment or termination.Successful Short Sale:A short sale is not reported on a credit report and is therefore not a challenge to employment.
For a FREE Home Search and to view the latest active listings,
Go to: www.upstatehomesearch.com
For a FREE list of foreclosure and “fixer-upper” distress properties,
Go to: www.hotforeclosurereport.com
Join our VIP Homebuyer Club and get up … (0 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Security Clearances - Greenville, SC Real Estate - 05/12/09 01:22 PM
FORECLOSURE VS. SHORT SALE
Homeowner Consequences
Issue/Topic:Security ClearancesForeclosure:Foreclosure is the most challenging issue against a security clearance outside of a conviction of a serious misdemeanor or felony. If a client has a foreclosure and is a police officer, in the military, in the CIA, Security, or any other position that requires a security clearance, in almost all cases clearance will be revoked and their position will thus be in jeopardy of being terminated.Successful Short Sale:A short sale on its own does not directly challenge most security clearances.
For a FREE Home Search and to view the latest active … (0 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Credit History - Greenville, SC Real Estate - 05/12/09 01:13 PM
FORECLOSURE VS. SHORT SALE
Homeowner Consequences
Issue/Topic:Credit HistoryForeclosure:Foreclosure will remain as a public record on a person's credit history for 10 years or more.Successful Short Sale:Short sale is not reported on a credit history. There is no specific reporting item for "short sale". The loan is typically reported 'paid in full, settled'.
For a FREE Home Search and to view the latest active listings,
Go to: www.upstatehomesearch.com
For a FREE list of foreclosure and “fixer-upper” distress properties,
Go to: www.hotforeclosurereport.com
Join our VIP Homebuyer Club and get up to $500 CASH BACK AT CLOSING! And … (1 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Credit Score - Greenville, SC Real Estate - 05/12/09 01:04 PM
FORECLOSURE VS. SHORT SALE
Homeowner Consequences
Issue/Topic:Credit ScoreForeclosure:Score may be lowered anywhere from 250 to over 300 points. Typically will affect score for over 3 years.Successful Short Sale:Only late payments on mortgage will show and after sale mortgage will be reported as paid or negotiated. This will lower the score as little as 50 points if all other payments are being made. A short sale's affect can be as brief as 12 to 18 months.
For a FREE Home Search and to view the latest active listings,
Go to: www.upstatehomesearch.com
For a FREE list of foreclosure … (0 comments)
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mortgage: Foreclosure VS. Short Sale - Homeowner Consequences - Future Loan with any Mortgage Company - Greenville, SC Real Estate - 05/12/09 12:52 PM
Foreclosure VS. Short SaleHomeowner Consequences
Issue/Topic:Future Loan with any Mortgage CompanyForeclosure:On any future 1003 application, a prospective borrower will have to answer YES to question C in Section VIII of the standard 1003 that asks "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" this will affect future rates.Successful Short Sale:
There is no similar declaration or question regarding a short sale.
For a FREE Home Search and to view the latest active listings,
Go to: www.upstatehomesearch.com
For a FREE list of foreclosure and “fixer-upper” distress properties, … (0 comments)
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mortgage: Interest Rates are Low, Spring is Here and Homebuyers are Getting Busy! - 03/21/09 10:10 PM
Is it just me, or are the homebuyers starting to come out of hiding? This past week I have enjoyed a substantial increase in homebuyer interest and activity. I've got two homes under contract as of this past week, and also buyers calling me for more information on listings, buyers relocating to the region and a listing referral that came in from an agent out of market. It is a blessing to be a real estate professional right now! I hope this activity and momentum only increases over the next few weeks.
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mortgage: Home for sale in Simpsonville, SC: 12 Colleton Ct, $187,500 - 01/10/09 04:21 PM
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mortgage: Home for sale in Greenville, SC: 120 Coxton Mill Ct, $189,500 - 01/10/09 02:18 PM
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mortgage: Home for sale in Mauldin, SC: 17 Butler Crossing Drive, $190,000 - 01/10/09 02:12 PM
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mortgage: Home for sale in Greer, SC: 513 Rosebud Lane, $198,900 - 01/10/09 02:09 PM
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mortgage: Home for sale in Greenville, SC: 23 Ridgebrook Way, $199,900 - 01/10/09 02:06 PM
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Kirk Westervelt, CDPE-Avoid Foreclosure! Home for Sale-Greenville,Simpsonville,SC
Greenville,
SC
More about me…
Keller Williams - Greenville, SC Realtor -Short Sale Expert!
Cell Phone: (864) 451-2402
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