Linda's Lexington Blog

Short Sales - Dealing with a Second Lien Holder (Bedrock Style)

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 01 May 2012 21:55:17 -0700

Great post. The second lien holder can be, and often does stop the sale. It is very frustrating when this is missed and the first lienholder refuses to offer anything to the second lienholder.

Short sales.......make you want to leave the business!!!!

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 LindaLipscomb.com

Via Melissa Zavala Realtor® North San Diego County Homes (Broadpoint Properties):

Negotiating with second lien holders has long been a hot topic on the Short Sale Expeditor® website. Most recently, two agents asked the following questions about second lien holders and short sales.

Why do second lien holders play games when they are in the inferior position? Why doesn’t the threat of foreclosure scare the second lien holder?

First off, who knows why anyone does anything? But, nevertheless, I will be more than happy to speculate.

In a short sale where both the first lien holder and the second will each have to accept less than the amount owed, the first lien holder will state how much of the proceeds will be allocated to the second lien holder.

For example, let’s say that there is a first lien on Fred Flintstone’s property for $400,000, and a second lien on his property for $100,000. Let’s also say that Fred needs to move to another part of the United States because the quarry is relocating. His Bedrock home is only worth $300,000.

Fred’s property receives an offer for $300,000. His savvy short sale agent contacts his first lien holder and the lien holder says that they will allocate $6000 to the second lien holder.

The short sale agent calls the second lien holder and advises the lien holder that they will receive $6000 in order to release their lien at closing. However, the second says that they want $12,000.

This is the “game” that is referred to in the question above. Depending upon the state in which you reside and the deficiency laws for that state, the second lien holder may not be able to “go after” the borrower for the difference after closing. This could be one reason why the second lien holder plays this “game.”

Another reason may be that the second lien holder may have additional legal recourse in a foreclosure. So, if their “game” causes Fred’s home to be foreclosed, the second lien holder may have additional recourse (again, this depends upon the state in which you live, and you should discuss this with an attorney).

A third reason may have to do with mortgage insurance. If there is a mortgage insurance premium on the second lien, then the second lien holder may have more to gain in foreclosure than in a short sale.

Again, this is all pure speculation. Frankly, I just feel badly for Fred Flintstone that he cannot get his short sale approved. Shouldn’t the Slate Rock and Gravel Company have some sort of corporate relocation program?

(photo credit)

Melissa Zavala
BROKER/REALTOR® ● DRE #01324959

BROADPOINT PROPERTIES, INC.
760.839.3838

Search San Diego County Homes For Sale | Search Riverside County Homes For Sale
Southern California Short Sale Support | Short Sale Expeditor Negotiation Services

If you enjoyed this post, why not connect with me in these other communities?

CASA of Henderson County Tn - Sponsor A Child

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 08 Apr 2012 11:43:52 -0700

CASA (Court Appointed Special Advocates) of Henderson County served approximately 121 children in 2011. These are children who end up in the Court System as an abused or neglected child. The court must decide the fate of the child. Each child is assigned a CASA. This CASA is a volunteer. They are not paid.

This advocate works with the System to ensure the safety of the child. This advocate files a report to the Court with recommendations. Based on information submitted by the child's CASA, the Court must make a decision on what is in the child's best interest. It could be the child is removed from their home with parents and placed with relatives, in Foster care, or even placed up for adoption. The main goal of the CASA volunteer is to find a safe, permanent home for the child.

The week of April 16 thru April 20 is your opportunity to "Sponsor a Child". It costs approximately $120/year to provide services to one child. With the help of the citizens of Henderson County TN, we will find a sponsor for each and every abused or neglected child who is monitored thru the Henderson County Court System.

On Friday, April 20th, the closing of the week's activities, there will be a Radio Thon with Don & Todd on Z99 morning show.

If you are interested in sponsoring a child, please contact the local CASA office at 731-249-5536, call in on the Radio Thon on Friday Morning, April 20th on Z99 in Lexington, or visit the CASA website at HendersonCountyCASA.org

RE/MAX Unlimited is proud to be a corporate sponsor of CASA of Henderson County.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376 Move2LexingtonTn.com

Linda Lipscomb 731-695-1118 LindaLipscomb.com

Should you sell now or wait for your house to regain value?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 08 Apr 2012 11:04:16 -0700

If you sell and buy in the same market, it should be a wash.

Families are tired of putting their lives on hold, waiting for the right market to buy or sell. Who knows how long it will be before your home regains its lost value. But one thing is for certain, the interest rates can't possibly remain as low as they are right now. So buy now!!!!

RE/MAX Unlimited 10850 Highway 412 West Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 LindaLipscomb.com

Via Judy Chapman (Koenig & Strey Real Living):

Should you sell now or wait for your house to regain value?

You own a home and want to sell. But you’re wondering whether you should sell now or wait for your house to regain the value it lost during the Great Real Estate Crash of 2007.

Unless you intend to ‘cash out’ and retire to a rental for good, now is as good a time to sell as another.

On the other hand, if you plan to buy another house, you have nothing to ‘lose’.

If you sell at today’s prices, you will also buy at today’s prices.

If you trade one house for another house, the new house will catch the wave of future appreciation.

If you wait for your house to regain its former value, the house you’ll buy will have gone up just as much.

The only way to ‘beat the market’ is to sell a house in an area where prices held up and buy a house in another area where the market values were hit much harder.

One more thing …

Right now, interest rates are the lowest in decades. Once the economy improves, they’re predicted to rise from 4% to 7% or more. Therefore, any gain in home value will be traded for a more expensive mortgage.

It’s Judy … your Chicago North Shore Realtor®.

* * * * *

JUDY CHAPMAN | Live the life you dream

Residential Sales ∙ Luxury Sales ∙ Short Sales

Koenig & Strey | 1925 Cherry Lane | Northbrook, IL 60062

Judy@ChgoNorthShore.com | Office: 847.749.3811

Up until a year ago, I sold real estate in Orlando FL, explaining why you’ll see many, many posts related to the Orlando real estate market. Now I’m back in ‘Sweet Home Chicago’, selling real estate in the North Shore and West of North Shore Suburbs.

If you’re interested in relocating to Florida, contact me for recommendations of some very fine Realtors^® all over the state. I can also refer you to some of the hardest working Short Sale real estate agents throughout the country.

You Wanted To Lowball The Sellers. Don't Be Upset That You Didn't Get The House.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 21 Mar 2012 21:41:07 -0700

It seems in today's market, most of the offers are low-ball. Some buyers will make offers on

several before getting one accepted. Only after losing their favorite home and their second

choice do they seemed determined not to lose their third choice.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Eric Michael, CDPE -Real Estate & Short Sale Professional 734.564.1519 (Remerica Integrity, Realtors®, Northville, MI):

You Wanted To Low-ball The Sellers. Don't Be Upset That You Didn't Get The House.

You've spent countless hours over many nights searching for properties on the Internet.

Finally, you have your list together. 147 houses. And you want to look at them all. In 2 days. Tomorrow and the next day.

What?

In today's market, 106 of them will be pending, meaning they have other accepted offers. Another 28 will be "short sales," and you already told me you don't want to wait that long.

Leaves us with 13 homes. My lucky number.

I schedule them, but in the morning my voice mail says that 4 of them went under contract over night. Down to 9.

Of the 9, 3 of them you don't even want to get out of the car for.

Down to 6.

We look at the 6 best homes on the market for you.

You like 1. Ready to put an offer in?

We go back to my office and while I'm running comps, you're talking about taking wallpaper down in the foyer and how many dogs will be awesome in the backyard.

I sit down with you, show you the comparables. They all point at you making an offer in the X price range.

Do you do that? Nope. You want to offer Y, which is about 20% BELOW market value. (notice how I used the letter "Y"?)

In goes the low-ball offer, almost immediately comes back an email saying that there are "multiple offers" and a form that asks if we want to keep our offer the same or change anything.

I remind you of the comps. You say "It's a buyers market! Besides, my Cousin's carpet guy got a house for blah, blah, blah."

Offer stays the same. You don't come close to getting it.

Don't blame the sellers. Don't blame the comps. And certainly don't blame me. Maybe next time you'll listen to a professional.

You Wanted To Low-ball The Sellers. Don't Be Upset That You Didn't Get The House.

Eric Michael, Real Estate Professional
Remerica Integrity, Realtors
41000 W. 7 Mile #105
Northville, MI 48167

Cell: 734.564.1519
Fax: 248.912.9996

www.ShortSaleInfoMI.com

www.EricMichaelOnline.com

Lexington Tn - Commercial Real Estate

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 23 Feb 2012 22:18:07 -0800

RE/MAX Unlimited
Linda Lipscomb
Cell: 731-695-1118
Business: 731-249-5376
Office Fax: 731-249-5387
Website or Mobile:
http://www.lindalipscomb.com/CPW149943
E-mail: lindalipscomb@remax.net

Scan this with your Smartphone ...links to a Listing Website.

10777 West Church Street
Lexington, TN 38351
MLS#:	149943
Price:	$415,000

Great Location!!! Four lane through Lexington. Approximately 7700 sq. ft. Loading dock. Building is only 7 years old and has been well-maintained. Whether you are needing to expand your current business or are eager to start a new one, don't make a move until you check out this facility.

The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

Listing information courtesy of: RE/MAX UNLIMITED

Information is provided in part by the IDX program of the Central West Tennessee Association of REALTORS® MLS. All information provided is deemed reliable but is not guaranteed and should be independently verified.

© 2001 - 2012 Reliance Network and RE/MAX of Tennessee. All rights reserved. US Reg. Copyright TX-5-910-991, TX-5-910-992, TX-5-910-993, and TX-5-910-994.
Each RE/MAX Office is Independently Owned and Operated. Equal Housing Opportunity. www.remax.com RE/MAX of Tennessee

RE/MAX received the highest numerical score among full service real estate firms for home sellers and home buyers in the proprietary J.D. Power and Associates 2011 Home Buyer/Seller Study^SM. Study based on 3,861 total evaluations measuring 8 firms and measures opinions of individuals who bought a home between March 2010 and April 2011. Proprietary study results are based on experiences and perceptions of consumers surveyed March-May 2011. Your experiences may vary. Visit jdpower.com

Lexington Homes - 566 Timber Ridge - Lexington, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 23 Feb 2012 22:14:14 -0800

RE/MAX Unlimited
Linda Lipscomb
Cell: 731-695-1118
Business: 731-249-5376
Office Fax: 731-249-5387
Website or Mobile:
http://www.lindalipscomb.com/CPW149856
E-mail: lindalipscomb@remax.net

Scan this with your Smartphone ...links to a Listing Website.

566 Timber Ridge Drive
Lexington, TN 38351
MLS#:	149856
Price:	$237,500
Bedrooms:	4
Full Bathrooms:	3
Half Bathrooms:	1

Can You Use A 4th?? Bedroom for an office or hobby room?? This brick beauty features 3 bedrooms, 2.5 baths on the main level. Upstairs are the 4th bedroom, bath, and recreational room. Split bedroom plan. Open floorplan is also perfect for entertaining. Kitchen features breakfast nook with wall of windows to enjoy your morning coffee and watch the deer grazing in your backyard. Formal dining is off the foyer for those special occasions. Cozy master bedroom features fireplace with thermostat control. Spacious master bath with his/her vanities, whirlpool, and walk-in shower. Arched doorways, trayed ceiling, and oversized foyer entrance give them home a most inviting feeling. The covered porches are fabulous for grilling, family fun, or just relaxing after a long day. Located between Lexington & Jackson, this home couldn't be more convenient. Home has been well cared for and needs nothing. Call 731-695-1118 for more information.

General Features

Subdivision	WESTPOINTE
Area	LEXINGTON
Number of Acres	1.73
Approx. Heated SqFt	3,065

Possession	Possession At Close
Proposed Financing	Conventional FHA Financing VA Financing
To Show	Lkbx/Occ. Call List Offc.
New Construction	No

Year Built	1999
County	HENDERSON

Building Features

Air Units	2
Appliances	Central Vacuum Disposal Dishwasher
Attic Type	Floored Pull Down Stairs
Ceiliings	Blown/Textured Trayed
Heating System	Gas Forced Air Cent.
Cooling System	Cent. A/C-Electric

Internal Features	Bay Windows Cable TV Ceiling Fan(s) Garage Door Opener Separate Shower Smoke Detector Walk-In Closet Washer/Dryer Connection Whirlpool Electric Water Heater
Rooms	Rec Room Formal Dining Room Separate Laundry Room
Window Types	Thermo Pane
Water Heater Units	1
# of Stories	1 1/2
Roof	Architectural

Window Treatments	All Window Treatments
Ranges/Ovens	Microwave Built In Microwave Vent Hood Range/Oven-Electric
Garage Type	Attached Garage
Foundation	Crawl Space
Fireplace	Gas Logs Pre-fab Fireplace Ventless Fan
Floors	Carpet Hardwood Tile/Ceramic

Room Features

Master Bedroom Level	Main
Master Bedroom Size	14x20
Master Bath	Shower Seperate Whirlpool Tub Double Vanity Ceramic Tile Floor
Bedroom 2 Size	12X15
Bedroom 3 Size	12x12
Bedroom 4 Size	12x17
Eat-In Kitchen Size	12x10

Kitchen Size	12x22
Kitchen Features	Breakfast Bar Built In Cabinet Pantry Eat In Kitchen Pantry Separate Breakfast Area
Formal Dining Room Size	12x15
Living Room Size	13x17
Foyer Size	7x12

Laundry Room Size

7x13

Property Features

Decks/Patio/Porches	Covered Back Porch Covered Deck Covered Front Porch Wrap Around Porch
Access	Paved-Public Road
Lot Size	1.73
Lot Type	Corner Lot

External Features	Gutters Mail Box
Sewer	Septic
Water	Public
Car Storage	2
Water View	No

Waterfront	No
Resort	No
On Golf Course	No

The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

Henderson County Tn .....Presents ESPN Dodgeball Tournament

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 16 Feb 2012 22:16:06 -0800

Mark your calendar......February 25, 2012 Lexington High School

Dodgeball Tournament. Youth, regular, and masters division.

Children's games.

This is such a fun event. All proceeds are to benefit CASA of Henderson County.

Please make your plans to attend.

RE/MAX Unlimited will be sponsoring two teams in the tournament. Lexington Hill School Girls Softball Team, known for the tournament at the RE/MAX Renegades (thanks Coach Burke)and also the RE/MAX Untouchables(thanks Coach Goolsby)which is made up of students from SHHS, LHS, and Riverside. Thanks to all our players for your contribution to this worthy cause!!!

If you would like to sponsor a team or need more information, please call the CASA office at 731-249-5536.

Hope to see you at the ball tournament!!!!!

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 LindaLipscomb.com

It's a Price War and a Beauty Contest

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 16 Feb 2012 21:46:30 -0800

Great blog and wow is it the truth. One thing is for sure, you have to win one of these contest.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Tom Branch | Broker, CDPE, SFR, ACRE | Plano TX Ambassador | 214-227-6626 (RE/MAX Dallas Suburbs):

If your home is listed or you are thinking about listing, you need to realize that selling in today's market is a price war and a beauty contest. Even worse is that you often have to win both!

In many areas there are far more homes available than there are buyers looking. Add short sales and foreclosures to the mix and you will quickly see that you are in the midst of a price war. For buyers, that's great news. We're having sale on real estate! For sellers, it means you really have to look at the prices of competing homes and price your home accordingly. I'm not saying that you have to give it away, but if you truly want to sell, you have to be in the ballpark. The good news for sellers is that many are also buyers so the "loss" on the sale can be made up with the purchase of a new home.

Unless you're an investor, a home purchase is still an emotional decision. Homes that create emotion not only sell, they sell for more. If you're selling, you and your agent need to create that emotion. Homes that are in good condition, properly staged, always ready for showings, and properly marketed do sell. Want to know the good news? They sell quicker and for more money!

I alway tell sellers if nobody walks in the front door, the home is either overpriced or poorly marketed. If buyers walk in the front door and will not make an offer, it's because they don't see the value for the price. There are two ways to fix it--put some make-up on the home or lower the price!

My advice is to take the time to get your home ready prior to putting it on the market. It's a price war and a beauty contest out there.

Photo licensed from ShutterStock

Originally posted at http://www.thebranchteam.com/wordpress/2012/02/13/its-a-price-war-and-a-beauty-contest/

Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.

Copyright 2009-2012 - The Branch Team
The Branch Team - Texas Real Estate Broker 547597 | Team Members are Texas Licensed Real Estate Professionals
Tom Branch - National Mortgage Licensing System 341963

Important Notice: The Branch Team with RE/MAX Dallas Suburbs is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental.

107 Elston Lane - Lexington, TN. 38351

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 26 Jan 2012 00:15:41 -0800

RE/MAX Unlimited
Linda Lipscomb
Cell: 731-695-1118
Business: 731-249-5376
Office Fax: 731-249-5387
Website or Mobile:
http://www.lindalipscomb.com/CPW149493
E-mail: lindalipscomb@remax.net

Scan this with your Smartphone ...links to a Listing Website.

107 Elston Lane
Lexington, TN 38351
MLS#:	149493
Price:	$175,000
Bedrooms:	4
Full Bathrooms:	3
Half Bathrooms:	1

Location, Location, Location!!! Between Lexington & Jackson, just off 412. 4 bedroom, 3.5 bath. 24x24 detached shop with unfinished recreational room upstairs. 1.1 acre lot. Home features split bedroom plan with 3 bedrooms on main level. Upstairs are one bedroom and bath. Formal dining room just off foyer. Home is clean and well maintained. It's worth the look. Call 731-695-1118 for more information.

The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

Christmas 2011......Birth of a New Tradition!!!!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Fri, 04 Nov 2011 19:24:55 -0700

As the holidays approach, the giant Asian factories are kicking into high
gear to provide Americans with monstrous piles of cheaply produced goods --
merchandise that has been produced at the expense of American labor. This
year will be different. This year Americans will give the gift of genuine
concern for other Americans. There is no longer an excuse that, at gift
giving time, nothing can be found that is produced by American hands. Yes
there is!

It's time to think outside the box, people. Who says a gift needs to fit in
a shirt box, wrapped in Chinese produced wrapping paper?
Everyone -- yes EVERYONE gets their hair cut. How about gift certificates
from your local American hair salon or barber?

Gym membership? It's appropriate for all ages who are thinking about some
health improvement.

Who wouldn't appreciate getting their car detailed? Small, American owned
detail shops and car washes would love to sell you a gift certificate or a
book of gift certificates.

Are you one of those extravagant givers who think nothing of plonking down
the Benjamines on a Chinese made flat-screen? Perhaps that grateful gift
receiver would like his driveway sealed, or lawn mowed for the summer, or
driveway plowed all winter, or games at the local golf course.

There are a bazillion owner-run restaurants -- all offering gift
certificates. And, if your intended isn't the fancy eatery sort, what about
a half dozen breakfasts at the local breakfast joint. Remember, folks this
isn't about big National chains -- this is about supporting your home town
Americans with their financial lives on the line to keep their doors open.

How many people couldn't use an oil change for their car, truck or
motorcycle, done at a shop run by the American working guy?

Thinking about a heartfelt gift for mom? Mom would LOVE the services of a
local cleaning lady for a day.

My computer could use a tune-up, and I KNOW I can find some local guy who can get it up and running.

OK, you were looking for something more personal. Local crafts people spin
their own wool and knit them into scarves. They make jewelry, and pottery
and beautiful wooden boxes.

Plan your holiday outings at local, owner operated restaurants and leave
your server a nice tip. And, how about going out to see a play or ballet at
your hometown theatre.

Musicians need love too, so find a venue showcasing local bands.

Honestly, people, do you REALLY need to buy another ten thousand Chinese
lights for the house? When you buy a five dollar string of light, about
fifty cents stays in the community. If you have those kinds of bucks to
burn, leave the mailman, trash guy or babysitter a nice BIG tip.

You see, Christmas is no longer about draining American pockets so that
China can build another glittering city. Christmas is now about caring about
US, encouraging American small businesses to keep plugging away to follow
their dreams. And, when we care about other Americans, we care about our
communities, and the benefits come back to us in ways we couldn't imagine.
THIS is the new American Christmas tradition.

Forward this to everyone on your mailing list -- post it to discussion
groups -- throw up a post on Craigslist in the Rants and Raves section in
your city -- send it to the editor of your local paper and radio stations,
and TV news departments. This is a revolution of caring about each other,
and isn't that what Christmas is about?

Advice to Buyers

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 03 Nov 2011 23:30:44 -0700

Buyers.....think about this!! Buying a bargain or buying a home for your family.

RE/MAX Unlimited 10850 Highway 412 West Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Bryan Stephens (Keller Williams Realty):

So you are looking to buy a house. One thing to remember is that if you are looking for a place to live, you are buying a home not a bargain. If all you look for is the best deal you won’t be happy in your deal versus your home.

Now there are some things to think about. First off you can always fix the house but you can’t fix the neighborhood so choose wisely. If you have children or are planning on having children, make sure the school district is up to par. You can check Great Schools www.greatschools.org to get information. You can also check the neighborhood crime statistics at www.crimereports.com and www.meganslaw.ca.gov. These sites can help you make sure your neighborhood is right for you.

Now it’s time to think about the house. What are you looking for? If you are single this part is easy. If you are married then it’s a little harder. I suggest that you make a list. Sit down and brainstorm what you want in a house. Things such as how many bedrooms do you need? Bathrooms? Pool? Granite? Bonus rooms? One or two stories? Etc. Next you need to prioritize the list. I suggest you break it up into 4 categories.

Must haves – These are deal breakers. If it doesn’t have these features, we are not interested.

Would likes – These are not deal breakers but you would really like them. They help you decide which house is better.

Ok if it had – These are features that will help in a tie breaker. They are nice but not needed.

Definitely don’t want – These are also deal breakers. You do not want these features. Some people, for example, do not want a pool.

Now its time to think about your time frame. How much time do you have to buy your home? Typical escrows usually take 45 days or more. They biggest delay is usually with the lender, which is on your side of the deal. If you are in a hurry cash is king. If you, like most of us, don’t have the cash then you know you need to wait the typical timeline. Also if you are in a hurry to move, then do not waste your time with short sales, they take too long. Sure they can be a good deal, but you have to wait, typically 60 days or more. Sometimes its 60 days just to hear from the bank and then the escrow time after. Some short sales require a deposit with no guarantee that the sale will even be approved. Also you may have to start all the inspections before you have bank approval, which means money out of your pocket with not guarantee. So if you’re pressed for time, stick with standard and REO sales.

If you have time to wait and find the perfect home for your family, then go for the short sale. Again you can get a good deal you just have to be patient. More short sales are being approved now then even before. Banks now have more staff to deal with them since they finally figured out that they are better than foreclosures. Also there are government programs that can help speed up the process, such as HAFA short sales. Also many banks have learned to streamline the process and there are even websites to help speed things up.

Once you have done all the above things you are ready to talk to a Realtor. Armed with the information above you can let your Realtor know what you are looking for. It will help them find the right home for you based on your timeline. They are search for features you want and exclude those you don’t want. It is always better to use a Realtor since they have access to the MLS, a property data base that is the most up to date listing service out there. Many websites you access have outdated or missing listing.

Now it’s time to go looking for the right home. Bring your lists to help you decide on the right home. Also before you put in an offer, ask your agent for a cost analysis. Ultimately it is up to you how much to offer, the realtor can help a little but its your money, better to have some info before you spend it. Also do not rely to much on sites like zillow as they are often off on their appraisals since the market changes faster than there program can deal with.

Hopefully this will help you find the right home. If you are looking in the Inland Empire contact me and I will help you find a home.

159 Elston Lane!!! Home, Pool, In-Law Quarters, Shop.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Tue, 01 Nov 2011 23:07:31 -0700

RE/MAX Unlimited
Linda Lipscomb
Cell: 731-695-1118
Business: 731-249-5376
Office Fax: 731-249-5387
Website or Mobile:
http://www.lindalipscomb.com/CPW141244
E-mail: lindalipscomb@remax.net

Scan this with your Smartphone ...links to a Listing Website.

159 Elston Lane
Lexington, TN 38351
MLS#:	141244
Price:	$349,500
Bedrooms:	4
Full Bathrooms:	4
Half Bathrooms:	0

Mother-In-Law House Included!!!! Property includes main home, guest house, and shop. Great location between Lexington & Jackson. Everything one could want from central vacuum, instant hot water system, in-garage storm shelter, security system, and temperature controlled shop with floored attic. Both homes have septic systems. Main home has been upgraded with new granite countertops, fixtures, paint, and has been well-maintained. In-ground pool area is perfect for entertaining. Must see this one!!! It's one fine place!! For more info call 731-695-1118

General Features

Subdivision	NONE
Area	HENDERSON CO.
Number of Acres	2.26
Approx. Heated SqFt	3,261

Possession	Possession At Close
Proposed Financing	Conventional
To Show	Lkbx/Occ. Call List Offc.
New Construction	No

Year Built	1995
County	HENDERSON

Building Features

Air Units	2
Appliances	Security System Smoke/Fire Alarm Dishwasher Refrigerator Ice Maker
Attic Type	Walk In
Ceiliings	Blown/Textured
Heating System	Gas Forced Air Cent.
Cooling System	Cent. A/C-Electric

Internal Features	Cable TV Ceiling Fan(s) Garage Door Opener Separate Shower Walk-In Closet Washer/Dryer Connection Whirlpool
Rooms	Formal Dining Room Separate Laundry Room
Window Types	Vinyl
Water Heater Units	1
# of Stories	1 1/2
Roof	Architectural

Window Treatments	All Window Treatments
Ranges/Ovens	Microwave Vent Hood Oven-Electric Separate Cooktop-Elec.
Garage Type	Attached Garage Detached Garage Separate Garage
Foundation	Crawl Space
Floors	Carpet Tile/Ceramic

Room Features

Master Bedroom Level	Main
Master Bedroom Size	18x14
Master Bath	Shower Seperate Whirlpool Tub
Bedroom 2 Size	17x15
Bedroom 3 Size	17x15
Bedroom 4 Size	12x12
Eat-In Kitchen Size	9x12

Kitchen Size	21x12
Kitchen Features	Built In Cabinet Pantry Eat In Kitchen Pantry Separate Breakfast Area
Formal Dining Room Size	20x15
Living Room Size	20x19
Laundry Room Size	10x10

Property Features

Pool	In-Ground
Decks/Patio/Porches	Covered Front Porch Patio-Open
Access	Paved-Private Road
Lot Size	2.26
Lot Type	Wooded Lot

External Features	Garage Storage Gutters Workshop Mail Box
Sewer	Septic
Water	Well-Ind.
Car Storage	3
Water View	No

Waterfront	No
Resort	No
On Golf Course	No

The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

© 2001 - 2011 Reliance Network and RE/MAX of Tennessee. All rights reserved. US Reg. Copyright TX-5-910-991, TX-5-910-992, TX-5-910-993, and TX-5-910-994.
Each RE/MAX Office is Independently Owned and Operated. Equal Housing Opportunity. www.remax.com RE/MAX of Tennessee

RE/MAX received the highest numerical score among full service real estate firms for home sellers and home buyers in the proprietary J.D. Power and Associates 2011 Home Buyer/Seller Study^SM. Study based on 3,861 total evaluations measuring 8 firms and measures opinions of individuals who bought a home between March 2010 and April 2011. Proprietary study results are based on experiences and perceptions of consumers surveyed March-May 2011. Your experiences may vary. Visit jdpower.com

How Much Will The Seller Take? What do you do when the comps don't support the asking price?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 30 Oct 2011 22:52:56 -0700

As Realtors, most often, we do not know what the seller will take. They may have told their listing agent at time of listing contract, but things change, circumstances change, financial situations change, and so many other personal factors could impact a sellers decision on any given day. Great blog Pam. Enjoyed reading and you made some very good points.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 LindaLipscomb.com

Via Lee & Pamela St. Peter Raleigh Realtors® Raleigh North Carolina Homes for sale (Prudential YSU Realty - (919) 645-2522 ):

How Much Will The Seller Take?

It is a million dollar question isn't it?

As a Realtor® I often hear home buyers ask that question. It's asked when a serious buyer who has spent time pouring over hundreds of homes online, after viewing their top choices have narrowed down their favorite, and now are ready to make an offer on the one... they turn to me and ask "how much do you think the sellers would take for that house???"

I don't know how other agents answer that question. I find it a tough one to answer for a couple of reason. Sure we prepare a CMA to check the comps. We know the safest reply to that question is "they will accept the asking price". We could even respond "let's put it in writing and find out", or even “I’ll give the selling agent a call to see if I can get a better feel for the sellers situation”. But let's look at the situation closer. How should we answer that? Should the buyers offer to purchase price be based on statistics? Or should a buyers need and the house chosen influence that offer?

There are of course a lot of different scenarios. But for discussion sake let's suppose that this particular listing is considerably overpriced compared to the CMA prepared. But since the listing agent took the listing at that price, the seller is convinced their home is without a doubt worth the listed amount.

Let’s also say for this example that we do agree this home does show better than the others we've seen... it’s staged beautifully and in impeccable condition. The seller has made updates throughout, beautiful curb appeal, etc. etc., AND it does fit my buyers needs very nicely. BUT the comps are what they are, and nothing has sold in or around this home in a year even close to the asking price! So based on the comps we adjust for major upgrades as much as we can, and we move forward and make our offer which is... still considerably lower than the asking price.

Over the years it's a situation that has happened more than once, and one that in today's market happens too frequently. But guess what also all to frequently happens? You guessed it. The sellers are insulted and don’t have any interest in playing ball with the buyers, even refusing to consider a counter offer. Buyers are put out with the seller too... with all sorts of 'they should know's..". But I can see the disappointment in the buyer's eyes. Everything they say and 'don't say' is telling me that this is THE house; they’re moving in in their minds.

So just what should we do to keep this moving forward? Is there a way to get a fair price for buyers and meet the sellers objectives? In a soft market when the comps are hard to come by what do you do?

About the author: Pamela is a Realtor in Raleigh NC with The St. Peter HomeSelling Team at Prudential YSU Realty serving the Raleigh NC (Triangle) area.

We are a team of passionate North Carolina Real Estate Brokers dedicated to connecting our clients to success in home buying and home selling in the Triangle. Pamela can be reached via email at Pamela@RaleighHomesOnline.com or by calling (919) 645-2522.

For all your Wake County real estate needs The St. Peter HomeSelling Team serves the following areas; Raleigh, Cary, Apex, Morrisville, Holly Springs, Fuquay Varina, Garner, Wake Forest, Knightdale.

299 Cheyenne Circle - Lexington TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 30 Oct 2011 21:49:57 -0700

235 Blackberry Hills Circle - Lexington, TN.

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 30 Oct 2011 21:26:07 -0700

frameborder

Why do Underwriters feel the need to play GOD?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 20 Oct 2011 23:55:17 -0700

Never have I seen more ridiculous requests from the underwriters!!!

Great post and I think most of our buyers are getting so frustrated with the process.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Ellie McIntire Real Estate in Howard County Maryland (The McIntire Team ):

What is becoming painfully obvious is that some Underwriters seemed to have developed a God Complex. They are more than aware that the fate of a loan lies in their hands and they, in my lowly opinion, are asking for more insignificant information just to make life difficult.

For example: (This is my listing- we are now almost three weeks beyond the original settlement date)

The first requirement that has made the buyers agent head spin is the insistence on having the word PERMANENT added to the buyers medical condition. A mere "this patient will never be able to work again" was not sufficient. The buyer, who us obviously disabled was forced to run around after his Doctor to have a statement provided that his condition was indeed PERMANENT!!!!!

Task # 1 completed.......can we head to settlement?

Slow down Mr Buyer......there are a few more coming at you.

The Underwriter now needs his Divorce decree.......despite being married to his 2nd wife for 18 years......from his 1984 Divorce!

The third and last (hopefully)requirement is PROOF that the children from that 1st marriage no longer obligate him to pay child support.

DOES SHE HAVE ANY MATH SKILLS?
He divorced their Mother in 1984!

The two children in question now have children of their own!

The poor Buyer has had to jump through unnecessary and totally illogical hoops to appease. She wanted their birth certificates as proof. None of these requirements make any sense.

HOPEFULLY we can settle this home in the next few days unless the underwriter is going to require a full blown DNA test!

It's All About the Children!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Mon, 19 Sep 2011 01:02:27 -0700

Abused and neglected children. Unfortunately, you can find them in all our communities.

It seems unbelievable this could happen in our small, little, rural southern town or for that matter in Anytown, USA. But it does, everyday.

For the last two years, I have had the privilege of working with an organization in our community known as CASA (Court Appointed Special Advocates).

The mission of CASA is to recruit, train, and supervise community volunteers to be advocates for abused and neglected children in the court system.

Seems pretty amazing to find volunteers willing to take on such a task. Well, we have them in Henderson County TN as well as many other counties across the United States. Volunteers willing to stick beside this child until they are placed in a permanent, safe home.

CASA of Henderson County invites you to Lexington High School on October 1, 2011, 7PM. Murder Mystery Dinner.

Tickets can be purchased at RE/MAX Unlimited, 10850 Highway 412 West, Lexington, TN as well as many other area businesses.

Henderson County CASA is now serving 81 children in the Henderson County Court System.

Please help support this wonderful program. The children are counting on YOU!!!!

CASA is a non-profit organization. All proceeds from this event go to CASA of Henderson County.

USDA loan monthly mortgage insurance is coming!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Wed, 14 Sep 2011 00:25:49 -0700

It's great to see the 3.5% RD funding fee decrease to 2%. This is a great 100% financing program and is very popular in our area.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Brian Mayer USDA Loans | FHA Loans in Maryland (Envoy Mortgage 100% Financing Rural Development Loans):

USDA loan monthly mortgage insurance

Get ready for some upcoming changes to USDA mortgages. They are for the first time incorporating monthly mortgage insurance and its going to have an effect on how much you can borrow. The bad news is that your payment will increase however its not all bad.

USDA mortgage insurance details:

The USDA monthly mortgage insurancefor new USDA loans after October 1, 2011 will be .3% annually. The up-front mortgage insurance premium is going from 3.5% back to 2%.

What does this mean to you?

It means that although the up front premium is going down 1.5% there is now monthly mortgage insurance and your payment will go up overall. On an average 250k loan amount the increase in payment is around $44 dollars per month (at 4.5% interest.) That might not sound like a huge amount of money however if your debt to income ratio is right on the edge and you were qualified prior to October 1, you should call your USDA mortgage companyand make sure you are still qualified after the change.

Good News for USDA Loans

There is a small yet bright light in all of this seemingly endless tightening of lending restrictions of Government Programs. If you obtain a USDA loan after October 1, 2011 and sell your house before owning it for 7 years you will actually have spent less total money than under the previous guidelines (assuming you paid the minimum monthly payment and put no money down.) USDA is still 100% financing and there is still no down payment requirement so overall the program remains extremely competitive against FHA or even VA in some circumstances.

USDA Loans

VA Loans

Maryland First Time Homebuyers

127 Scott Street - Lexington TN

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 03 Sep 2011 19:34:59 -0700

RE/MAX Unlimited
Linda Lipscomb
Cell: 731-695-1118
Business: 731-249-5376
Office Fax: 731-249-5387
Website or Mobile:
http://www.lindalipscomb.com/CPW147874

Scan this with your Smartphone ...links to a Listing Website.

127 Scott Street
Lexington, TN 38351
MLS#:	147874
Price:	$169,900
Bedrooms:	3
Full Bathrooms:	2
Half Bathrooms:	0

Picture Perfect Setting!!! Corner lot with just enough mature trees to enjoy the outdoors. This brick beauty has a wonderful floorplan. Split bedroom plan. New wood flooring in great room, formal dining, and master bedroom. Fireplace, with gas logs add a cozy feature to the great room. Breakfast nook features a wall of windows allowing for a spectacular view of patio and backyard. Oversized laundry room with pantry. Master bedroom features private bath with double vanity, walk-in shower, whirlpool tub, and a closet with handy built-ins for storage. Call 731-695-1118 to be the first to see this one.

The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

Each RE/MAX Office is Independently Owned and Operated. © 2010-2011 Reliance Network and RE/MAX of Tennessee, Inc. All rights reserved. Equal Housing Opportunity
www.remax.com RE/MAX of Tennessee

I Have Money and STILL Can't Buy a House!

Linda Lipscomb RE/MAX Lexington Henderson County TN — Mon, 29 Aug 2011 17:22:45 -0700

Good points! Buyers do get very frustrated to lose out to an investor or any other buyer. If you are serious about buying, be ready to deal!!!

RE/MAX Unlimited 10850 Highway 412 West Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Tammy Emineth (Personal SEO - Website SEO and Real Estate Marketing):

In this market, if you have money, buying a house should be easy.... one would think anyway. I mean if you're credits good, you have money to put down and your jumping on the listing, why in the world shouldn't you be able to buy a house!?

This has seem to be the case with a couple of my friends lately. First timers, out to get into their first house. Unfortunately even with a little bit of money to lay down, excellent credit and jumping on the ball they both seem to loose out time and time again.

It starts to get frustrating when you think THIS is the market for buyers and put your hat into the ring only to have it chucked out by another bidder. Seems strange but that just tells me that times are not too tough that buyers are not buying.

The case seems to be the lower end homes, short sales, foreclosures and those priced far below market value are easier pickin's not just for first time buyers but also for investors.

There's the competition! Investors. They have the cold hard cash to close the deal in a week and unfortunately lenders and sellers alike appreciate that much more than a drawn out financing contingency. Money talks is an understatement.

So what's a first timer to do? Even if you're not a first timer how do get into the ring with the big dogs that are lapping up all the easy pickin's before you have a chance to sign the Purchase and Sale?

Get a buyers agent that knows your market WELL!!! I don't mean, sold a couple homes here or there, but is well seasoned at buying homes in your price range in this market. As the market can change literally by the month you need an agent that is closing at least 2-3 deals a month. If your agent is closing more that's fine, just make sure you don't get shoved aside in all the confusion. Your home buying process needs to be on the forefront of their mind.

Get your earnest money ready. Not, in the bank, have to pull it from my 401K or sell a stock - I mean READY - cash in hand if you have to. Many escrow companies will prefer a check but cash always works.

Tell the seller who you are and why you deserve this house. Many lenders will want to help first timers get into their own home and when they know you are responsible, pay your bills and plan to stay in the home long term. This may appeal more to them than an investor trying to make a quick buck.

Jump on the listing ASAP! Don't tell your agent you will think about it if you know you won't. Most people know they love a house in the first 5 minutes. It's in that time that you need to make a decision. Granted, making an informed decision is still wise but once you are ready to buy, it's only a matter of finding the right house. You know when you find it - jump on that offer right away and make sure your agent is on the ball too. You wouldn't want to loose a house due to an agent waiting on submitting an offer.

Don't get frustrated. It's east to get emotional when you buy a house but remember to keep yourself focused on the goal, use a great agent and jump on the house you want. Keep at it and you'll soon be closing on your favorite home.

Here are some GREAT agents in their field ready to help first time home buyers find and BUY exactly what they need:

Battle Ground Real Estate Agents

Fairbanks Realtors

Bothell WA Home Buying Agent

Fort Rucker Realtors

Tammy Emineth is an expert in custom content and orginal articles for blogs, website, press releases and more. Contact me anytime and feel free to subscribe to this blog to stay up to date on my latest blogs and informative information. Email me or contact me for Real Estate Website Marketing and SEO Content Writing.

The information contained in this blog is believed to be true and correct and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy for any particular purpose. All information is copy written and the property of Tammy Emineth.

Four great ways to blow your home purchase

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 27 Aug 2011 12:05:55 -0700

Great post!! Keep your credit picture the same from the day you get approved until your home closing day. It's critical!!

Thanks for the list.

RE/MAX Unlimited 10850 Highway 412 West Lexington Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via 678-439-8683:

It happens almost every day. When you work in the regional office of a major lender you hear a lot of stories. When your wife handles a large portion of the files you hear even more. I have certainly had my share of these, too, even when the buyers are instructed, warned and threatened ... it happens.

Do not quit your job. This is the event that inspired today's post because it has happened on two of my wife's files in the last 90 days. The loan officer on this one is a seasoned veteran so they'll probably figure out how to get the guy a job. Once you apply - freeze. When you close you can thaw.

Do not charge anything on any credit. It happens. First time buyers are the worst. They hear the words "your mortgage application is approved" and immediately they start applying for credit cards (often to buy furniture for their new home) or buy a new vehicle.

Do not spend the money you have on hand. This one happens more often than number one but not as often as number two. When you fill out an application and say you have $31,500 in your savings account and $12,000 in your checking those numbers are verified and your closing costs/down payment has to come from that. If you bring a check from some account you never told your loan officer about that will halt the closing until those funds can be verified.

Do not make any large deposits you cannot provide a paper trail on. Usually deposits over $500 have to be sourced meaning you will have to provide a verifiable paper trail of where that money comes from. The purpose of this is to show an interested party is not giving you the funds to make it happen. You can get a gift from a relative or "significant other" provided those funds are traced as well. In that case you need a specific letter you can get the form from your loan officer.

Rest assured there are other ways to blow it but these seem to be the most common and should also be the most obvious. When you know these in advance you can time your changes to make sure they don't interrupt or kill your chances at getting that new home!

Image: Andy Newson / FreeDigitalPhotos.net

AmericaHomeKey Mortgage Southeast Division - my team, my baby. Call me when you're ready to know what I can offer as a marketing and referral partner, when you have a buyer who must have down payment assistance, when you want to know how to attract qualified buyers and real estate investors. Or just call me.

Social Media Edge Radio - seriously true professionals who won't misguide you with some crap they made up to sell more books and seminars. Every Tuesday at Noon eastern.

RETSORadio - part of the RETSO family. Great tech information and updates from people who have the answers, people who speak and product and service users.

Ken Cook - Community Outreach Leader Southeast Region (I make friends, handle social media, SEO/SEM/SMO that's my job :) - We do FHA, USDA, VA and Conventional Home Loans (678) 439-8683 NMLS ID 208452

My employer: AmericaHomeKey, Inc., 2300 Windy Ridge Parkway, 8th Floor North Tower - 840N, Atlanta, GA 30339. NMLS ID 102930. Georgia residential mortgage licensee 23191. Equal housing lender.

Would you go grocery shopping if you didn't have any money?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 27 Aug 2011 11:36:59 -0700

Love this!! What a great way to explain to buyers the need to get their financing in order before they start looking at homes.

RE/MAX Unlimited 10850 Highwy 412 West Lexington, Tn. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma:

Would you go grocery shopping if you didn't have any money?

I would feel so foolish if I went into the grocery store, got a shopping cart, and starting looking through the aisles... gathering up food that I like, for buying consideration if I didn't have any money.

Maybe I had brought a friend along that I was going to ask her if I could borrow some money to buy the groceries AFTER I had picked out what I wanted to buy...but I had not asked her yet if she would lend me any money and nor did I know that IF SHE SAID YES, how much she would lend me.

Let's take this a step further... when I went into the store, I asked for the manager and asked him if he would walk around with me and explain to me the different types of food that he was offering for sale AND I told him that I did not have any money but was sure that my friend would lend me the amount I needed after I had chosen my basket of food.

Surely he would stop answering questions for the customers that he knew could pay for their food and would walk around with me, who has no money... explaining how the store is laid out and what the best buys were this week.

What do you think? Likely scenario?

HA! That's what I thought.. I heard you say, "Inconceivable!"

Yet if you are expecting to home shop, you do not have your own funds to purchase, and you have not gotten at least pre-qualified and even better pre-approved for a loan...

"This is exactly what you are doing on a different level."

Now can you understand why your real estate agent WHO REALLY WANTS TO HELP YOU AND REALLY WANTS YOU TO FIND YOUR PERFECT HOME, also wants you to get pre-approved for your loan BEFORE you go home hunting? AND before he/she spends the time home hunting for you and with you?

I thought so... SO GO TALK TO YOUR LENDER AND GET PRE-APPROVED! So you'll know how much you have at your disposal for a new home.

Images courtesy of Bruce A Stockwell and Michael LeHet

Looking for a home for sale in Idabel, Oklahoma? Let me Google that for you.

Judi Barrett, Broker, Integrity Real Estate Services, Office Address: RR 5 BOX 126, IDABEL, OK 74745 580-212-5946

Our Name Says It All.
Real Estate Services You Can Trust.

If you enjoyed this post, why not connect with me elsewhere?

Real Estate Services

Our name says it all.

Visit our website to view listings in Southeast Oklahoma, including both Choctaw County and McCurtain County Oklahoma

The "Big Six" Home Selling Factors

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sun, 07 Aug 2011 20:15:19 -0700

These six factors are so accurate. Great blog on identifiying, the impact of each, and who controls.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Prince William County

Karen Kruschka's Web Site

Popular Prince William County subdivisions to consider are Eagles Pointe, Wellington, River Falls, Saratoga Hunt, Winding Creek, Lake Ridge, Westridge, Old Bridge Estates, Brittany, Montclair, Ashland, Port Potomac, Potomac Club, Rollingwood Village, Lake Terrapin, Lake Side and Meadowbrook Woods

Prince William County

Karen Kruschka's Web Site

Via Karen Kruschka - Prince William, Fairfax ,Stafford County VA Real Estate Service (RE/MAX Olympic Realty):

Although they can be stated in different ways there are only six factors that affect the sale of a home.

It is important for you, as the seller, to understand who or what has control over them and how they impact on each other.

You control 3 of the 6

The Market controls 2 of the 6

Your REALTOR® controls 1 of the 6

YOU Control
1. Price - You determine list price for your home. However, a list price above the market for homes similar to yours will impact negatively on buyer interest in making an offer. Your REALTOR® will review price history with you to assist you in making a list price determination.

2. Terms - Buyers have requirements just as sellers do. Your willingness to respect them and be willing to negotiate which terms will be acceptable to both parties can have a very positive impact. Price and Terms will usually be negotiated at the same time.

3. Condition - How well you have maintained the home will influence both your price and length of time to sell. The pool of buyers who are willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained.

THE MARKET Controls
4. Timing - Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home.

5. Competition - The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis.

YOUR REALTOR® Controls
6. Promotion - From entry into the Multiple Listing System, to internet marketing and any other programs your agent will have an impact on your home sale.

CONCLUSION
No one of the six factors alone controls the timely sale of your home. Your agent should provide you with

Feedback from prospects who have visited your home

Changes in market conditions

Your willingness or ability to make adjustments in price, terms or condition based on the information provided will be the final determinant as to how quickly your home will sell.

+++++++++++++++++++

My Team has 35 years experience in Woodbridge, Dumfries, Manassas, Bristow, Gainesville, Haymarket Prince William County

”Experience Isn’t Expensive – It’s PRICELESS”

If you plan to buy or sell a Woodbridge or other Prince William County home or property contact Karen and Art by Email or call us at 703-690-6569. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

Prince William County

Karen Kruschka's Web Site

Help! My Credit Score Just Dropped! What Does this Mean? Or.....U.S. Loses its AAA Rating From S &P - What Does THIS Mean?

Linda Lipscomb RE/MAX Lexington Henderson County TN — Sat, 06 Aug 2011 22:47:48 -0700

Know your credit score.

It's so important to your ability to borrow money.

RE/MAX Unlimited 10850 Highway 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Louise Thaxton #6 in Nation for VA Loans 866-960-9115 VA FHA USDA Louisiana Loans (Fairway Independent Mortgage Corp Louisiana NMLS#2289):

More than once as a mortgage banker, I have had clients react with shock and disbelief when we share their credit score with them. "But I always pay my bills on time!" many will exclaim. To which we have to inform them the cold, hard truth - your credit score is determined by more than merely timely payments on your debt.

Your personal credit rating can also be "downgraded" when you max out your credit cards and you are making the minimum payments; when you apply for credit numerous times to various financial institutions; when it appears that you are living on borrowed money and borrowed time and from your financial activity it looks like you are a financial disaster just waiting to happen.

Many people were shocked and in disbelief with the news that the credit rating of the United States was downgraded by S & P. This has never happened before and many thought it would not happen at all. MarketWatch reported that the "powers that be" believed that our government and it's policy making has become "....less stable, less effective, and less predictable...." - hence the downgrade.

What will this mean for the housing market and mortgage interest rates? How will the stock market react? How will this affect potential home buyers and home sellers? In the days and weeks to come, I will be keeping you updated as the financial reports come in.

At this point, no one really knows. As I said, this has never happened before. I believe the question is not "WILL there be a price to pay?" but instead the question is "WHO will pay the price and how HIGH will it be?"

When an individual's credit score plummets, it means higher interest rates, more cash required for purchases, and in some cases, denial of credit altogether. I recently wrote a blog about Raising the Debt Ceiling for the Potential Home Buyer concerning hard choices, disciplines and fiscal responsibility. Now when a nation's credit score plummets......we have yet to realize the consequences.

I'm just wondering about this today and I would love your thoughts...... Do you think the downgrade of the U.S. AAA rating was justified? Or NOT?

Louise G. Thaxton NMLS #69996

lgthaxton@fairwaymc.com

#6 in Nation for VA Loans - VA Home Loan Expert

Fairway Independent Mortgage Corp NMLS #2289

866-960-9115

www.MilitaryMortgages.org

Founder of For Sale By Owner Company Turns to REALTOR® for Help

Linda Lipscomb RE/MAX Lexington Henderson County TN — Thu, 04 Aug 2011 22:50:52 -0700

Thanks for the update! That's interesting to know and a wonderful reminder of how hard it is to sell your own home, especially in this market.

RE/MAX Unlimited 10850 Hwy 412 West Lexington, TN. 731-249-5376

Linda Lipscomb 731-695-1118 http://LindaLipscomb.com

Via Tim and Susan Fennell (The Legends of Real Estate, REALTORS®):

Founder of For Sale By Owner Company Turns to REALTOR® for Help

by TIM on AUGUST 4, 2011

From the files of stranger than fiction, the founder and former CEO of ForSalebyOwner.com, Colby Sambrotto, was unable to sell his OWN HOME so he turned to a REALTOR® to get the job done.

According to The Wall Street Journal, Mr. Sambrotto gave up the FSBO route in favor of hiring a broker. This good decision resulted in attracting multiple offers for his 2000 square foot condominium in New York and a final sales price $150,000 more than the original asking price. The WSJ said that the listing sold for $2,150,000 which included a 6 percent broker fee.

His own marketing efforts, which included his own online classified ads and FSBO sites, failed to get the job done. This is a trend that more and more sellers are discovering after many months (and sometimes years) of unfruitful FSBO attempts, hundreds of advertising dollars spent, unqualified buyers entertained and general inconvenience and frustration.

The facts speak for themselves. The market is just too uncertain and changing too fast for most DIY home sellers or even for most part-time real estate agents. It is imperative that homes are priced correctly from the very start and if a sale doesn’t come quickly, price adjustment may be required just to keep up and/or ahead of market trends.

If people really want to give the FSBO route a try, I say “give it all you’ve got“ but when you decide you need help, for goodness sake, make sure you hire an experience, skilled, professional real estate consultant who will work with you in achieving your goals!

Experienced real estate consultants keep their finger on the pulse of the market daily and are in constant search of better, more effective marketing venues. It only makes sense to hire someone who knows what they’re doing when selling your most valuable asset.

Tagged with: fsbo • selling

Visit Authors Website →

Tim and Susan Fennell
Accredited Consultants in Real Estate (ACRE®)

The Legends of Real Estate, REALTORS®
Jacksonville, Florida

Best Homes In Jacksonville