List a positive thing that has happened the week of 2/23/09 to keep our spirits high - 02/27/09 01:24 PM
We read, see and hear such negative stories during the week which chips at our morale and is just depressing. That is why I am dedicating another post just to allow all of us the opportunity to read a positive story or two. I will start!!:
I was able to get a bank to take a short sale offer. I am the agent on both sides and everyone both buyer and seller are thrilled! My seller will be forgiven for the full deficiency. I went away for 5 days and took my wife and kids skiing. I had my very competent … (81 comments)

Oakland County FHA raised the loan limit to $297,500 effective NOW! - 02/27/09 12:04 PM
Good news for Oakland Country Realtors and Lenders!!!
 
FHA raised the loan limit to $297,500 effective Today! With a 3.5% down payment, it would let the purchaser buy a house at $308,290 (The buyer can go higher on the purchase price, but it would require more money down). Just an FYI!
 
Mike Sher
 
 
 
 
 
… (1 comments)

Short Sale Tip “Meet the BPO or Appraiser Sent By The Bank”! - 02/27/09 10:54 AM
As you are aware, the bank requires an independent assessment of value for the asset that you are short selling. These agents and appraisers are getting paid very little for what they do and are overworked. Make is easier for them, meet them at the home. Give them some comps that make sense. Remember, your short sale is in their hands. They are going to spend a few minutes in that house, pull up some comps from the MLS and reporting to the bank the value.
As you know, many agents MLS inputting skills are very sloppy!! Often agents may be … (14 comments)

Fannie Mae Will Not Allow Servicers to Cut Realtor Commissions if they are 6%!!! - 02/26/09 03:16 PM
Great News for us Short Sale Realtors fighting the good fight.  Fannie finally gets it!! We Realtors are saving them Billions of Dollars by performing pre-Foreclosure Sales, (Short Sales).  In the past, the servicers were bulling us around, threatening to cut are commission if the buyer asked for concessions or if the seller was not willing to contribute to closing cost or just to cut our commission because they could.  See below and then my commentary to follow!!
No Negotiation of Preforeclosure Sales Commission Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers Effective March 1, 2009, closing of preforeclosure sales … (8 comments)

We have to work together, so let try to be nice. - 02/16/09 05:40 PM
I just got a very curt email from a listing agent.  The email was combative, angry and packed with sarcasm.  The listing agent was working off of misinformation and instead of assuming the best out of me, she assumed the worst. 
This is just one of the many emails, phone calls and text messages from co-op agents that just were not nice.  I know that times are tough; our clients are petty, angry, mad, sad and never glad!!   This economy has brought out the worst in everyone.  We may be their agents but we do not have act like them.  And … (3 comments)

Short Sale Letter From A Happy Seller!! - 02/16/09 04:22 PM
 This is a letter from a Rochester Hills client that hired me to sell their home!!
To whom it may concern:
I would definitely recommend Mike Sher and his team to anyone looking to sell their house, especially in this market, and especially if you need to do a short sale!  I found Mike Sher through his blog while looking for a realtor experienced in short sales.  Mike listed my house in November 2008, and we literally closed 2 months later!  I had my house listed with another agent for months with no offers.  It was amazing how fast he got … (3 comments)

List a positive thing that has happened this week to keep our spirits high - 02/13/09 09:26 AM
List a few positive things that has happened this week to keep our spirits high. 
 We read, see and hear such negative stories during the week which chips at our morale and is just depressing. That is why I am dedicating a post just to allow all of us the opportunity to read a positive story or two. I will start!!
This week I was able to get a bank to accept a short sale. I listed 2 homes that will be short sales, the seller are willing to take Responsibility and sell it then to run from the problem!! I saved my buyer from a … (5 comments)

Short Sale Class in Troy MI March 24th 9am-12pm - 02/13/09 09:16 AM
Only nine more seats left for my Short Sale Class March 24th 9am-12pm (Troy). 
Thriving with Short SalesForeclosure agents presently control a high percentage of the homes-sold market share: short sales are a way for traditional REALTORS® to capture that business. Short sales allow you to have saleable-priced listings that will attract more showings, sign calls, Internet leads and help control inventory. Short sales will keep you busy, and a busy REALTOR® is upbeat, focused and confident.
Topics include prospecting for short sales; converting a phone call to an appointment; listing presentations; hardship, documents and how to protect your commission; introduce … (1 comments)

Royal Oak Is Named "extraordinary suburb" - 02/11/09 08:23 AM
 The secret is out, Royal Oak is a great place to live, visit and enjoy!!  If you know anyone who would like to move here, have them give me a call!!
 Mike
Royal Oak named "extraordinary suburb"The Congress for the New Urbanism recently honored Royal Oak as one of the 10 best communities at controlling urban sprawl, revitalizing and creating workable, eco-friendly Main Streets. The list:
Montgomery County, Maryland (Washington, D.C.) Tempe, Arizona (Phoenix) Suisun City, California (Bay Area) Shaker Heights, Ohio (Cleveland) Royal Oak, Michigan (Detroit) Hammond/Whiting/Gary, Indiana (Chicago) Burlingame/San Mateo, California (Bay Area) Delray Beach, Florida (Palm Beach) Markham, … (0 comments)