reo: Realtors: How has your life changed because of this Market? - 10/29/09 12:18 AM
How has your job changed in the past couple of years? My business card says Realtor Broker, but my job entails so much more nowadays: I am a social worker, general contractor, psychologist, loss mitigator, asset preservation specialist, credit counselor, short sale specialist, reo specialist, foreclosure counselor. My days are spent solving problems. That’s really what should be written on my card:
Mirela Monte, Problem Solver
Do I sell Real Estate anymore? Yeah, and lots of it, but the quality of my life has deteriorated immensely. I work 80 hour weeks, not for the money, but because … (77 comments)
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reo: SHORT SALES... Looking at the Bright Side... - 10/23/09 11:07 PM
I've been doing a lot of Short Sales for the past couple of years. I've done short sales on and off through the years, before the term "short sale" had even been coined. We used to call it "upside down mortgage". It was an infrequent occurrence. I was good at it because I really wanted to help my clients move out of their financial quagmire, so I was very persistent with the bank. There was no "Loss Mitigation" at that time, or at least I wasn't aware of any such term.
My, how things have changed in the past few … (11 comments)
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reo: Confessions of an REO Agent... - 07/01/09 09:10 AM
Property values are all over the place. Appraisers are tip-toeing around, not sure what to do about values in today's market. Most of the time, they just appraise the property at the sales price, thus not rocking the boat. Oceanfront condos that were selling for $330K, are now selling for $110K. Yes, that's right: they are selling for a 66% discount off the 2005 price!!! Sure they are bank owned, but then again, what isn't these days? Most of my business is now foreclosure based (about 75% of it). Bank Owned properties are relatively easy to deal with. There is … (14 comments)
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reo: Myrtle Beach Homes - Market Report for Sales Activity in the last 90 Days - May 2009 - 05/29/09 05:41 PM
We currently have a total of 6,400 homes listed for sale in the Myrtle Beach Area. Of these, a total of 802 homes (12.53% of the inventory) are no longer available: 525 of them are pending financing (8.20%), 110 (1.72%) of them are waiting to close on cash terms, 100 (1.56%) have contingent contracts pending, and 67 (1.05%) are showing on hold (some kind of Real Estate "Purgatory"). A total of 534 homes (8.34% of the inventory) are distress sale listings (Bank Owned, REO's, Foreclosures and Short Sales). Incidentally, of those, 110 homes currently waiting to close are … (1 comments)
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reo: Waterway Homes Sold in the Myrtle Beach Area in The Past 12 Months - May 2008 - May 2009: - 05/18/09 09:55 PM
*Note: Of the 15 Waterway Homes sold, 8 of them were Foreclosure related (two were short sales and 6 were REO's). Seven of the 15 homes were regular transactions.
**Note: There are currently 79 Waterway Homes available for sale, priced between $199,900 to $4,990,000. Of these 79 available homes, 8 are foreclosure related.
Mirela Monte, Your Myrtle Beach Real Estate Connection Join The Optimist Group!
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reo: Ten Big Ideas for a Tenuous Market: - 10/10/08 01:26 AM
This is such a great market to use your imagination and your honed skills on! The weak Agents become the casualties; the smart ones will advance by leaps and bounds... You just have to open your eyes and see the possibilities... Here are some BIG IDEAS:
Fractional ownership on vacation property. For a quick tutorial on the whole concept of Fractional ownership, please check out: http://www.ourbeachhome.com/. I will write more on the subject in the future, since I have been immersed in research on it for several months now. It certainly is a great vehicle for Vacation destinations, and other second … (18 comments)
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reo: Time is Money? Really? TELL THAT TO THE BANK!!! - 09/14/08 02:48 AM
One of the best lessons I've learnt in Real Estate came from a client. I was advising her to wait for a better offer, one that I knew I could get her. She said no, time is money and for every day the property stays on the market, money is lost. ...Say no more; I got it! Obviously the banks haven't had any such tutor. They have absolutely no understanding about the relationship between time and money. I thought it was only happening with short sales, where the 2-6 months closings seem to be the norm. Two days ago … (27 comments)
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