A perfect example of why HAFA is a miserable failure - 04/28/11 03:36 PM
A perfect example of why HAFA is a miserable failure
I wasn't always against HAFA. When HAFA was announced last April, I attempted to remain optimistic about the program, despite feeble results from anything else produced by government to ease our housing problems.
Over a year later, I can officially say I hate HAFA. If my clients opt into this program I always do my best to get them through it, but the truth is the success rate of HAFA is unbelievably slow and low. Less than 1 in 10 of those I have seen through the program has actually had a desirable ending … (2 comments)

Don't ask cause I wont tell! - 04/26/11 10:53 AM
Don't ask cause I wont tell!
Questions I will not answer about my short sellers, event though they are short sellers...
What is the balance on the mortgage(s)?
If you look at public records you can very easily figure out what the house sold for last. Do a little math and you'll have an idea. However - its not my place to share my clients mortgage balances with you - nor does the balance of the mortgage have any bearing on whether the short sale gets approved. Seek other sources for this information!
What is your clients hardship? Are they current … (4 comments)

SKIP THE REALTOR AND SAVE THE COMMISSION! - 04/20/11 01:52 PM
SKIP THE REALTOR AND SAVE THE COMMISSION!
The other day I got an email from a buyer to see one of my listed properties. As I usually do, I forwarded the request on to a buyer's agent I know who is highly qualified, local to the property, and an all-around good guy. I have never felt 100% comfortable with dual agency and I avoid it as much as I can.
The buyer refused to speak to the agent and emailed me this:
"We already have an agent who sends us housing information on the area. However I saw this house on the internet before she … (4 comments)

HOME FOR SALE: 33 Nauset Ave Killingly CT 06239 - 04/20/11 09:55 AM
Updated Killingly ranch in a quiet neighborhood! … (1 comments)

HOME FOR SALE: 104 Bashan Rd, East Haddam CT 06423 - 04/18/11 11:22 AM
Lakeside Handyman Special … (2 comments)

A CT Bank of America short sale success with FULL DEBT FORGIVENESS! - 04/15/11 09:41 AM
A CT Bank of America short sale success with FULL DEBT FORGIVENESS!
Bank of America has always been very stubborn about retaining their right to pursue a deficiency in their short sale approval letters. To my surprise, my most recent Bank of America short sale approval letter came with new language, completely releasing my client of all future liability for the debt.
Unfortunately, soon after the buyer flaked out and we had to secure another buyer and get a new approval. This time, the approval letter read the same way as the old Bank of America letters, with Bank of America retaining their … (3 comments)

Trying times with PHH Mortgage Services: A CT short sale success story - 04/13/11 04:07 PM
Trying times with PHH Mortgage Services: A CT short sale success story
This was the first time I had the "pleasure" of handling a short sale with PHH. This particular lender is by far one of the most disorganized, confused and slow short sale lenders I have seen in quite some time, and I see many.
Our first buyer was secured after two months on market and then the fun and games began. Despite our promises of preapproval and a full package being submitted two months prior, nothing had been accomplished at PHH. After securing the buyer ANOTHER 2.5 months of paper shuffling followed until a BPO was finally ordered … (2 comments)

I LOVE YOU GMAC! - 04/12/11 09:22 AM
I LOVE YOU GMAC! (Well, today anyway...)
Yes, I know, we've had a love and hate relationship over the years GMAC but I can see you've changed your ways now. Today you've topped the list as my new favorite. That title used to belong to Wells Fargo, but it just seems Wells isnt trying very hard anymore. Its been downhill with Wells for quite some time.
I know we had a hard time last year. We both remember Mr. X - that very nasty negotiator, dont we? You were great as usual...but he really soured our relationship for awhile.
But you've made it right again! … (2 comments)

Hartford County, Connecticut 2011: 1st Quarter Market Report - 04/11/11 08:38 AM
Hartford County, Connecticut  2011: 1st Quarter Market Report
Hartford  County, CT includes Avon, Berlin, Bloomfield, Bristol, Burlington, Canton, East Granby, East Hartford, East Windsor, Enfield, Farmington, Glastonbury, Granby, Hartford, Hartland, Manchester, Marlborough, New Britain, Newington, Plainville, Rocky Hill, Simsbury, South Windsor, Southington, Suffield, West Hartford, Wethersfield, Windsor and Windsor Locks.
In the first quarter of 2011, a total of 1354 homes sold at an average price of $231,574 and an average marketing time of 99 days. With current market inventory at 6654 homes total, less than 7% of homes are currently selling in any given month. This is actually down from last years … (0 comments)

HOME FOR SALE: 14 Courtland Street, Manchester CT 06040 - 04/09/11 10:08 AM
Adorable 3 BR Manchester Cape at a fantastic price! … (3 comments)

8 SIGNS YOUR REALTOR HAS NO CLUE ABOUT SHORT SALES - 04/08/11 09:23 AM
8 SIGNS YOUR REALTOR HAS NO CLUE ABOUT SHORT SALES
When  faced with the possibility of a short sale, it is very important to choose the right real estate agent. When interviewing, there are some signs your Realtor does not have knowledge in this area. Your financial future and a possible foreclosure may rest on this decision so choose carefully.
If you see these warning signs - you may want to reconsider your Realtor choice before it is too late:
 
Despite a market analysis telling you your home is worth about $150k, your Realtors pricing plan is to price it at … (7 comments)

HOME FOR SALE: 3 Homestead Lane, Columbia CT 06237 - 04/06/11 09:05 AM
Huge Columbia 4 bedroom colonial with upgrades galore! … (1 comments)

Middlesex County, Connecticut 2011: 1st Quarter Market Report - 04/05/11 05:40 PM
Middlesex County, Connecticut 2011: 1st Quarter Market Report
Middlesex County, CT includes Chester, Clinton, Cromwell, Deep River, Durham, East Haddam, East Hampton, Essex, Haddam, Killingworth, Middlefield, Middletown, Old Saybrook, Portland, and Westbrook.
In the first quarter of 2011, a total of 256 homes sold at an average price of  $292,961, with an average marketing time of 121 days. With current market inventory at 1806 homes total, less than 5% of homes are currently selling  in any given month. This is actually down from last years overall absorption rate of 9% per month. The market in Middlesex County has actually managed to slow down even more!
… (0 comments)

What is the difference between a short sale and a bank-owned home? - 04/04/11 09:44 AM
What is the difference between a short sale and a bank-owned home?
It seems theres quite a bit of confusion about how short sales and bank owned homes (REO) differ. Many are under the impression they are the same thing, but these two types of property sales are completely different.
A short sale is when the homeowner owes more on the mortgage than the home is currently worth and lacks the funds to make up the difference, but needs or wants to sell anyway. The homeowner may or may not be facing foreclosure. In a short sale, the lender (mortgagee) must agree to the loss between … (2 comments)

HOME FOR SALE: 77 Scenic View Drive Unit # 10, Deep River CT 06417 - 04/01/11 09:40 AM
2 Bedroom condo surrounded by nature! … (2 comments)

 
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Minna Reid, CT REALTOR®, Short Sale Agent

Southington, CT

More about me…

CG Real Estate

Address: 1224 Mill St., Bldg B, East Berlin, CT, 06023

Cell Phone: (860) 416-1255

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