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short sales: World's fastest short sale! Less than 1 day, and it was approved! - 05/24/11 01:54 PM
Submitted the contract and approved in less than 24 hours!  
Most everyone who has considered buying a short sale thinks that there is nothing "short" about a short sale.  This is not always the case!Time frames for a short sale offer to be approved typically are measured in months not days.  This was my fastest approval for my career.  The offer was executed on Saturday, and submitted in over the weekend.  By 5 pm on Monday, we had a written approval from Wells Fargo for the short sale to close within 30 days. Wells Fargo home mortgage company has never worked … (2 comments)

short sales: Short Sales on the Decline in Manatee County, FL - 03/28/11 01:52 PM
Short Sale inventory has been decreasing at the same time that sales are picking up.  Short sale homes and condos for sale in Bradenton have taken a noticable drop this past month, with 858 total short sales listings in all of Manatee county.  244 short sale homes and condos went pending last month as well.  That is the highest amount of pending short sales ever for Manatee County.  

Combine the decrease of short sale listings with the spike in pending sales, is a strong indicator that the market might have hit it's low.  Prices for homes in bradenton/sarasota have … (1 comments)

short sales: fannie and freddie raid the david stern's law office in Florida! - 11/09/10 10:09 PM
Freddie mac and Fannie Mae seized thousands of foreclosure files from the David Sterns office in Brward County this week.
 
David Sterns law practice on the east coast of Florida has been one of the biggest firms processing thousands of Florida Foreclosure cases over the past few years.  Freddie and Fannie had enough about the obvious shortcuts taken by the firm, and seized thousands of files from their office this week to review them for possible errors.
  Nice to see that Fannie Mae and Fredddie Mac are stepping in to straighten out this mess!  Perhaps spreading out the case load … (4 comments)

short sales: Wells Fargo announces- "no extensions on short sale approvals" - 10/05/10 05:02 PM
Well I sure hope that Wells Fargo gets faster about giving short sale approvals and gives adequate time to close them!   
With no ability to get extensions buyers who need financing on their short sale purchases need to be extra diligent to getting their loan commitments on time to meet the approval time frames provided from the lender. 

Wells fargo will need to be realistic to Junior lien holders having to also agree to the short sale approval.   In the past two out of three short sales with Wells Fargo that I have closed here in Bradenton, FL, A … (8 comments)

short sales: Is selling your home as a short sale worth the work? - 12/22/09 11:55 PM
So you have to sell your home, but you owe more than it is worth. Here are your options if you have to sell.IF you would rather stay in your home, but are having trouble afford the payments a loan modification should be your first step.  
But,
Tried to modify and the payments are still to high.  ( I can help with this too.)  Need to relocate for work or change in family reasons. Can't afford to stay in a home that has too high of a mortgage payment. Your property is "UNDERWATER", and you are prepared to walk away … (9 comments)

short sales: A short sale approved- with NO FINANCIAL INFO GIVEN - 10/27/09 04:20 PM
We have all had our share of tough short sales.  This one came to me a few months ago, and I did not give it much hope of it being accepted by the two lenders.  The Seller would not provide ANY financial info that is always requested by the lenders. 
 The normal "short sale package"
2 years tax returns-  NO 2 months most recent bank statements--NO 2 months' pay stubs--NO Monthly Income vs Expenses--NO Hardship letter-- YES Executed Contract-- YES The reasoning for not providing these documents was to protect the assets and keep this sensitive financial info private.
A few … (2 comments)

short sales: 7 things I learned doing short sales for past 3 years - 09/09/09 07:50 AM
I have now have closed a lot of short sales in the past three years. My words of wisdom for buyers, and sellers who are considering a short sale.  Short sales can be a great deal typically selling for 10-20% below current market value. BUT, they have a tendency to frustrate buyers, and sellers in the process.
Patience, involvement and realistic goals are helpful to get a short sale closed. Either everyone wins, or everyone loses. The buyer gets a great home, for a fair price. The seller gets rid of a home that is under water, and can potentially wipe … (18 comments)

short sales: First Time home buyers are scrambling to find homes - 09/04/09 10:30 AM
A sign of a recovery, or just a blip from the 8,000 dollar tax credit?? Here are the changes that I am seeing in my local market. comparing today to a year ago.  I am curious to see if anyone else is experiencing the same effects?  It feels like the tax credit is working like the "CASH FOR CLUNKERS" deal. When the government announced that the program was ending in a few days people were clammoring to get a car.  A friend that sells new cars, had not been as busy, ever, than the weekend prior to the end of the … (0 comments)

short sales: My common sense solution to fix the housing market, and help the economy - 08/10/09 11:31 AM
In the past three years I have been forced to become an expert doing short sales.  Right now over half my business is dealing with short sales.  One common frustration comes up time and time again.
Here is a typical scenario. A family owns a home that was bought at the peak of the market, or refinanced at the peak.  For example they may owe 400,000 on a home that is only worth 250,000.  The owner is employed, but with the economic slow down they are making less money then they did when they took out the mortgage.  They have attempted to … (4 comments)

short sales: short sales getting easier - 03/05/09 11:05 PM
Bailout, or Stimulus aside, I am noticing a general improveemtn in the success ratios on short sales in the past 60 days.
I was able to close a Short Sale in Bradenton, FL in less than 100 days.  This was remarkable not for the length of time to close, but because this seller was CURRENT on the mortage, currently employed, and had considerable savings and assets.
I have now closed three transactions where the sellers were current with their mortgage payments, and employed.  I am finding that the hardship requirements have become much more flexible in the past few months.
Anyone … (8 comments)

short sales: This is the Time.. "to be greedy is when others are fearful" - 02/12/09 05:30 PM
I am inviting you to my "Waterlefe Tour of Homes" for this coming Sunday February 15, 2009 from 1-4pm.  If you have been considering buying a larger home, downsizing, or perhaps buying a home for investment, there has never been a better time to be a buyer for this great community.       Waterlefe is a jewel that offers the rare combination of BOATING and GOLF at one address. 
Our neighborhood is not too big, or too small.  There is a great variety of residences from the 200's to the multi-million. Convenient location close to shopping, airports, and a reasonable drive to some … (0 comments)