short sales: Mortgage Insurance or License to Steal? - 03/29/11 07:53 PM
My clients bought their home early in 2006. They paid a fair price for it at the time and they planned to stay there for many years to come. Unfortunately, the husband was downsized out of his job last year. They kept making payments while he looked for another job.Then the money ran out!Knowing that they needed to do something quickly, they put out an "All Points Bulletin" to their friends and family. An opportunity came in but it meant that they would have to move to Southern California. The job didn't pay very well and the cost of living … (7 comments)
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short sales: Approved Short Sales. Are they really approved? NOT with B of A! - 02/15/11 08:57 PM
Approved Short Sales. Are they really approved?In the past few years we have listed, negotiated and closed almost 50 short sales. We have seen all of the changes in the way that banks handle to sales. We have fought some epic battles with banks of every color. Until recently, the approved short sale has been a sure thing. Bank of America has changed all of that!On February 2, 2011, B of A countered a short sale that we have been negotiating at $183,00 and the seller needs to bring $5000 to the table to close. The buyer walked on the deal, … (1 comments)
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short sales: Short Sales Vancouver WA - Using Your Seller as a Gatekeeper - 01/21/11 09:50 PM
Short Sales Vancouver WA - Using Your Seller as a Gatekeeper
A pet peeve for many short sale listing experts is when we have a home that is pre approved at a certain price with the bank and a buyer submits an offer that is below that approved price. It doesn't really matter how the listing is priced. It could be approved right at market value or $30,000 below, the offer still comes in low.The frustration is that the process of negotiating with the bank starts from the beginning again. What could have been a 2 week approval period … (3 comments)
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short sales: 10 Days Until Short Sale Relief? - 03/26/10 10:48 AM
10 Days Until Short Sale Relief?Although the following Reuters article is old (Dec. 1,2009), I have done a little digging and discovered that it may be going into effect April 5, 2010. Imagine what this could mean to our real estate market. Banks required to either accept of decline in no more than 10 days? Guidlines and limits set for how much of the sale goes to the 2nd lien holder? A moving allowance for the home owners?Treasury sets guidance to simplify short sales - By Al Yoon
NEW YORK (Reuters) - The U.S. Treasury on Monday set long-awaited guidance on … (2 comments)
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short sales: Dear President Obama - An Open Letter To The President Regarding Short Sales - 01/14/10 07:41 PM
Dear President Obama,
I thought that you might be curious to know how the $1 trillion bank bailout money has been working so I decided to write you this brief message.As a real estate agent here in Vancouver Washington, my experience with the bank bailout is primarily related to short sales here in Vancouver Washington. I have been negotiating short sales for distressed clients for several years now and with great success. I was excited to hear the announcement of a bailout plan because I knew that the banks just needed a little relief to allow them to move forward with … (4 comments)
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short sales: Buyers! Are Short Sales Too Good To Be True? Vancouver WA Real Estate - 01/07/10 09:38 PM
Buyers! Are Short Sales Too Good To Be True? Vancouver WA Real EstateAre you a buyer who has been checking out the internet and finding "Smoking Hot" deals on homes? Have you been calling the listing agents only to find that they are really happy to show you other houses but the one you are calling on "probably isn't available at the listed price?" Let me share a little secret about what is happening in our current Vancouver WA real estate market. I am specifically writing about the Vancouver WA real estate market but I am sure that this applies to … (3 comments)
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short sales: First Time Home Buyers - There Ain't No Nothing Left! - 05/18/09 10:40 AM
First Time Home Buyers - There Ain't No Nothing Left!We picked up a new client this weekend who came to us out of sheer frustration. He had been searching for a new home in Vancouver Washington via the internet for the past several months. He had been finding homes here and there that peaked his interest. He said that in the past 2 weeks it seemed like the homes in his price range (up to $190,000) had just dried up. Laughing, he said in a fake hick twang, "There ain't no nothing left!"I assured him that we would find him something … (7 comments)
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short sales: Which Of These Homes Would You Choose? - 05/12/09 05:19 PM
Which Of These Homes Would You Choose?
This has turned into a very interesting experiment. I listed both of these homes at the same time. They are on the same street in Washougal Washington. They are just one door apart. (There is one house that sits between them.) They have similar floor plans and have the same square footage. They both have the same panoramic view of the Columbia River between Washington and Oregon. Originally, they were both listed at the same price. Both have been advertised using the same vehicles.One has received considerably more attention than the other. Can you … (11 comments)
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short sales: Short Sales And The $8000 First Time Home Buyer's Tax Credit? BE CAREFUL! - 05/07/09 10:16 AM
Recently, I have been working with several first time home buyers and I am surprised at how many of them did not know what a short sale is. Short sale properties are an especially dangerous trap for first time home buyers right now for several reasons:
They are usually priced unusually low and catch the eye of many first time home buyers. They do not usually indicate that they are a short sale in the public notes. Short sales can take several months to negotiate possibly causing first time home buyers to miss out on the $8000 tax credit from … (0 comments)
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short sales: Why Would Buyers Not Use An Agent? Lease Option Danger - 05/06/09 11:03 AM
Why Would Buyers Not Use An Agent? Lease Option DangerI am currently working with a family who needs to buy a new home but they are in bad financial condition. They need a lease option or rent to own situation.These clients are very active on the internet and love driving through neighborhoods looking for homes. Last weekend they were driving by some of the listings that I had given them and one of them happened to be having an open house. They popped in and started chatting with the agent. They made a verbal offer for a lease option which … (1 comments)
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short sales: Share Ideas and Business Will Follow! - 04/13/09 08:16 PM
Share Ideas and Business Will Follow!I wrote a post the other day about Using Free Samples to Build Your Real Estate Business. Since writing that post, my mind has been in overdrive regarding the topic. I recently had two deals which were the direct result of sharing information with other realtors.The first started with a phone call from an out of state agent regarding a short sale listing that I had on the MLS. In our conversation I discovered that he had friends who were looking to buy a townhome in my area of Vancouver Washington. He was planning on helping … (8 comments)
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short sales: 9 1/2 Mistakes To Avoid When Buying Your First Home! Caution- Just One Of These Mistakes Could Cost You Thousands Of Dollars! - 04/09/09 09:22 AM
9 1/2 Mistakes To Avoid When Buying Your First Home! Caution- Just One Of These Mistakes Could Cost You Thousands Of Dollars!1. Not knowing how much house you can afford.
So many first time home buyers spend most of their time researching homes, comparing kitchen layouts, and measuring out the back yard. Unfortunately, they spend very little time researching their financing options. One of the first things that buyers should do is consult a qualified mortgage broker. Without knowing how much house you can finance, you waste a lot of time looking at homes that are out of your range and … (2 comments)
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short sales: First Time Home Buyers! Gorgeous Royal Ridge Home - 04/07/09 03:34 PM
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short sales: We Make Buying Your First Home Easy in Vancouver Washington. - 04/03/09 10:33 AM
We Make Buying Your First Home Easy in Vancouver Washington.
As an agent selling real estate here in Vancouver Washington, the biggest obstacle that I have to overcome with first time homebuyers is that they think that the process of buying their first home will be stressful and difficult. I have known that this was the primary obstacle since I first started in the business and I have put most of my effort into making the transaction as simple and pleasant as possible.Our first time homebuyer clients receive a free copy of Your First Home by Gary Keller. This fantastic … (1 comments)
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short sales: First Time Buyers! Don't Miss This Vancouver Wa Home - 03/27/09 05:39 PM
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short sales: Perfect Vancouver Washington Starter Home - Cheaper Than Renting - 03/26/09 02:47 PM
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short sales: Starter Home in Vancouver Washington - 03/25/09 06:05 PM
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short sales: REO's - Everything you ever wanted to know. Part 2 - How to buy a REO home - 03/19/09 10:44 AM
REO's - Everything you ever wanted to know. Part 2 - How to buy a REO home
Purchasing a bank owned home is not unlike the purchase any other home from its owner. Find it, visit it, fall in love with it, have your agent write and submit an offer, and wait a few days until the bank gets around to either accepting your offer or sending a counter offer. Sounds simple, doesn't it?Well it is if you are working with an agent who is experienced in REO transactions. We can give you a list of current REO's in the Vancouver … (0 comments)
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short sales: REO's - Everything you ever wanted to know. Part 1 - What is a REO? - 03/16/09 05:23 PM
About 2 1/2 years ago the buzz word in real estate was "Short Sales." These were homes where, based on the market, the owners were forced to sell their home for less money than they owed on the mortgage. Our real estate here in Vancouver Washington was late to fall in to this market but it came none the less. These homes were being sold for a variety of reasons often times including job loss, divorce, health issues, or other financial hardships. Short sale listings flooded the market seemingly over night and buyers started to jump into the market hoping to … (5 comments)
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short sales: Who Should Be Buying Short Sales? - 01/10/09 11:54 AM
Originally, when I first thought of the idea of writing about who should be in the market to buy a short sale property, I had pictured a list of traits. You know,some comical. Some not. The Top 10 Traits of a Short Sale Buyer? With real estate issues having dominated our financial news for over a year now, everybody would surely get a chuckle from it. Right?
The Vancouver Washington real estate market is fairly average in most things. It hasn't been hit nearly as hard as Los Angeles, Phoenix, or parts of Florida, but there are other cities in the … (3 comments)
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