I was floored!! Did anybody else here this last night? As I was driving home (satellite radio) there was a TV host advising a caller to sell her house on a short sale.

This was after they "broke down" her finances and determined she spends hundreds in clothing every month, takes long vacations frequently, and has $70,000 in savings!!!

First of all, the lender would never allow a short sale with that much in assets, but why would anyone advise this to a person who has a job and can afford the current home?

I was floored!! Did anybody else here this last night? As I was driving home (satellite radio) there was a TV host advising a caller to sell her house on a short sale.

This was after they "broke down" her finances and determined she spends hundreds in clothing every month, takes long vacations frequently, and has $70,000 in savings!!!

First of all, the lender would never allow a short sale with that much in assets, but why would anyone advise this to a person who has a job and can afford the current home?

 

 

Is this a strange August or what?  Lots of rain so far this month and the grass is green, for now. Great news for the horse and farmers alike.  The drought last year caused the price of hay to go through the roof, if you could find some. But this year I know some property owners who can't give theirs away.

This should help the local economy to keep some prices down. A barrel of oil closed yesterday at $118 and gasoline is at $3.65 in Shelbyville today. 

The time for buying from the local farmers is here! We should all consider going to the local farmers market instead of the grocery giants.  

 

Is this a strange August or what?  Lots of rain so far this month and the grass is green, for now. Great news for the horse and farmers alike.  The drought last year caused the price of hay to go through the roof, if you could find some. But this year I know some property owners who can't give theirs away.

This should help the local economy to keep some prices down. A barrel of oil closed yesterday at $118 and gasoline is at $3.65 in Shelbyville today. 

The time for buying from the local farmers is here! We should all consider going to the local farmers market instead of the grocery giants.  

The investors keep calling, and I keep answering. 

The amount of single family home investors calling on listed (and yet to be listed) foreclosures never seems to stop. Working for the banks can be tedious at times but the number of buyers is higher than owner occupants.  I have both kinds of listings but the number of investors with cash is jaw dropping.

The time to make a fortune in real estate investing is now, for the future. The market will return to great levels and wwhen it happens the persons who invest now will reap the rewards.

Whnat is a short sale?  Wikpedia defines it as "In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale."

Are you considering a short sale? Or has someone suggest a short sale becuase you are repeatedly behind on payments?  There are ways to reduce the pain and reducing your debt.

First, Deteremine if you are a candidate for a short sale.  Are you behind on payments due to financial difficulties?  Only if you CAN NOT keep up with the payments and could be heading or in foreclosure.

Second, you MUST contact your mortgage company to apply for a short sale. You will have to provide detailed information such as current income, debts, bills, etc. You will also provide a "hardship letter" to the lender. This is a letter written by you as to why your financial situation has become difficult to continue making the payments.

Only once you are approved for a short sale will the lender entertain an offer to purchase. Most offers to purchase will be less than what you owe on the property, hence a "short" sale.

 

 Bankruptcy is not always the answer, a short sale will show as a gray mark on your credit but NOT a bid RED "X"

 

You must understand there are tax implications and you should consult a tax advisor or tax attorney during this process.

 

I can help with a short sale in ANY price range in Metro Louisville KY, Shelby, Bullitt, Spencer, and Oldham counties in Kentucky. Also for Southern Indiana (New Albany, Clarksville, Jeffersonville)

Adam Borders, Realtor, E-Agent   adam@adamborders.com

502-296-2979

Do you remember the excitement we had when we got our license?  "Full Steam Ahead" and "I can sell to anyone!"  Now it's "how do i not get sued?"  OR "How can i please this potential client to be there agent for life?" " Do I have time to blog?" Should i use LOL in my blog? Where is that purchase contract?  Whew! And thats just the begining.

How do we get that excited again?

 

How many times do I have to replace yard signs and pointers?  Time after time, I ask the home owner on a corner to place a pointer sign in the yard to advertise for an OPEN HOUSE or FOR SALE. After getting the OK why do they change their mind and destroy my signs? 

I showed up for my open house and both of the signs entering the neighborhood are gone. They have been in place for three days. This just continues to make me believe that the younger generation is not trustworthy.

I even lose steel yard signs in rural areas, I've come to find that people use the steel frames for target practice.

why and what do you do?

WE ARE OPEN !! GRAND OPENING for all agents interested in the Keller Williams culture! If you are curious to see what we do at Keller Williams Realty come by 4-8pm at 1230 South. Hurstbourne lane suite 100. The Liberty Center II building next to Olive Garden. This is not a Vendor event, only if you are interested in a Real Estate Business that pays you back

Thanks to the warmer weather the market is moving. Signs are going up and so are the buyer's interest.  Shelby county Ky has cheaper fuel prices than all other areas near Louisville, $3.19 a gallon. That sounds so ridiculous since it was a dollar chaeper last year. Where or where does the extra money go? Buying in Simpsonville is a benefit for fuel prices if you drive slower. 

Not too many people are slowing down even with the high fuel prices, has anyone else noticed this?

Adam Borders

KW East