Mortgage Fraud --- price inflation and appraisal inflation schemes - 04/30/08 02:09 AM
A prospective client/seller (and ex-realtor) decided to sell his duplex himself and posted his ad on craigslist. He called to let me know that he accepted an offer from a woman who brought her contractor to look at the property. The seller said it's one of the craziest offers he's ever seen (but he accepted … (3 comments)
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Is this right? Short sale listing agent sent all offers directly to lender, bypassed seller. - 04/29/08 02:45 AM
I submitted an offer on a short sale listing last week. When I followed up with the agent on the seller response, she told me that she received four offers and that she sent them directly to the lender for approval. No written response (acceptance, counter or rejection) from the seller.
Is this right? Seems … (13 comments)
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Life is a beach! Resort lifestyle. 2 BR/1.5 BA Condo at The Willows. (VFlyer html code used for this post) - 04/28/08 02:08 AM
… (0 comments)
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What is it with Norton 360 that conflicts with so many functionalities? - 04/27/08 03:13 AM
I was posting my newest listing on my website powered by Point2Agent, and couldn't figure out why every time I try to save and exit, it stops responding. I restarted at least a couple of times, and thought perhaps it's my computer (again!).
After several tries, I checked the Help info, and … (3 comments)
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24% of active listings in our local MLS are short sales - 04/25/08 01:37 PM
As of today, in our local MLS. there are 12,041 active listings of which 2636 are REO (bank-owned) or 22%, and 2852 are short sales or 24%.
Siince January 1, 2008, 1151 REOs closed, compared to 102 short sales.
Because of the painfully slow process of getting an acceptance, rejection or counteroffer … (2 comments)
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Fiduciary responsibility is to the seller of the short sale....not to the lender - 04/22/08 08:34 PM
We are having such a lively discussion at our office, and there were very strong opinions expressed.
One of the scenarios: there is an accepted offer on your short sale listing, but the lender hasn't accepted yet. Then more offers come in. You can take one or two in back up position, and you can/may present … (8 comments)
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Craigslist isn't just for ads....visit their forums and get an earful! - 04/22/08 03:32 AM
To get a sense of the ongoing debate between buyers and renters, how the public sees realtors, where people think the market is going....
Check out the discussion forums on real estate. Sometimes, the posts are really quite educational and entertaining. Other times, it can get real ugly. The realtors who get … (3 comments)
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When do/should you deposit the check and open escrow on short sale? - 04/22/08 03:11 AM
There seems to be a disagreement about when to deposit the buyer's initial deposit check.
Some say within three days after the contract is signed and accepted by the seller since that is when the contract is considered ratified. Some MLS rules also will state that within 24 hours of acceptance by … (3 comments)
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Writing more than one short sale offer at a time for same buyer... - 04/18/08 02:07 AM
Often asked questions by agents about short sales
As more and more of us are finding ourselves challenged by listing and writing offers on short sales, my broker says he is asked three questions the most. I'd like to share what he said because I thought he gave very good advice.
"How come I'm … (7 comments)
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Ahhhh-lameda .... a historic and picturesque island on San Francisco Bay - 04/13/08 11:10 PM
Alameda truly is a beautiful island city. It's our slice of paradise on the San Francisco Bay between San Francisoc and Oakland. Close enough to the City hubs, but far enough from the hubbub.
Having lived in so many cities in New York, New Jersey, Florida, Texas and California, I consider … (2 comments)
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So much to do so little time...but if I don't start now, I'll be so much farther in the back of the pack - 04/12/08 05:51 PM
I'm always one to embrace new things and new technology. Although not an "early adaptor", nonetheless I keep my eye on things that intrigue me, and eventually I dip a toe in before I plunge right in. Seeing so many realtors who are successful in desigining their websites and blogs in a … (7 comments)
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25 Free Downloads You Need Now! ----from Computer Shopper - 04/12/08 12:05 PM
Always on the lookout for free software and productivity tools.
So it was fortuitous that as I was waiting at a doctor's office, there was the latest issue of Colmputer Shopper with a headline that features one of my favorite words: "FREE!"
The cover article is titled "25 Free Downloads You Need Now". … (10 comments)
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Short Sale: When do/should you put PENDING on the MLS --- when sellers, or lenders officially accept? - 04/07/08 05:28 PM
There's an active discussion and differing opinions on when a REALTOR should amend the status of the MLS posting of a short sale.
When the Sellers accept the offer ORWhen the Lenders accept?When is the contract officially ratified? When is it binding?
The California Association of REALTORs defers to the local MLS. The … (8 comments)
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Listing received low, but solid offer before property is approved as a short sale... - 04/07/08 01:21 AM
Real estate is an ever evolving industry where there is always something new to think about.
Here's a listing that was offered for sale the usual way for just over a month, with the original price right at market, or so the agent thought. There was no interest until the price was reduced $50K. At … (2 comments)
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Investor starts advertising property for sale before she completes purchase of a short sale - 04/07/08 12:59 AM
Maybe one of you has had someone present you with a proposition.
Here's how someone told me she invests:
Find properties that are short salesWrite offerUpon acceptance by the Lender, and before the escrow closes, she begins advertising the property for sale at a higher price knowing that she has time If/when she … (16 comments)
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Set expectations when writing offer for a short sale --- Give info to Buyer in writing! - 04/05/08 11:15 PM
No matter how many times you try to explain what a short sale is and what is involved, it is always a good idea to set expectations at the very beginning. Then follow up with a written explanation -- be it an outline, an email, a question and answer ---- anything that the … (2 comments)
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Go towards the light ... how to get other realtors to accept high-tech ways to reach our target audiences - 04/05/08 03:10 AM
My company has a brown bag lunch once a month during which we brainstorm (and sometimes bitch) about the current market and what we can do about it.
It is during these sessions that we bring up new ideas to try out, and also to comment on what we think would work. … (18 comments)
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A favorite summer event in sunny island of Alameda - 04/05/08 12:33 AM
Every summer, for three consecutive months of June, July and August, we have a free outdoor concert each month at Crab Cove,
It's a scene that every Chamber of Commerce would die for, and event that residents and their guests thoroughly enjoy.
This venue features live performances by different musical groups ranging from … (0 comments)
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Market Watch in Northern California Region --- a jolt of reality (interest rates still historically some of the lowest) - 04/04/08 11:45 AM
There's a group of women who meet once a month for presentations and discussions. The series is called "Wine Women and Wealth." I was asked to make a presentation--- which I turned into a round table discussion --- and share this info with them.
I prefaced it by talking about interest rates, … (0 comments)
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A new version of an oasis: a hot tub in a Japanese tea house (a 3 bedroom/2 bath home comes with it) - 04/04/08 03:37 AM
Colonial Revival home combines classic and vintage styling with fabulous upgrades and modern amenities.Lots of things to love about this home. Newly refinished wood floors. Open planfor formal rooms. Wood-burning fireplace. HUGE basement and tall attic (yes, you guessed it, more expansion). Landscaped and fenced yard with sprinkler system; Hot tub in … (0 comments)
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Evicting a tenant pre-foreclosure --- couldn't make it happen - 04/04/08 01:12 AM
My friend bought a house in a different city and put up her condo for sale. But she couldn't handle two mortgages after her husband left her shortly after moving into the new house. So she decided to rent out the condo for six months. Unfortunately, the condo rent wasn't enough to … (5 comments)
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Beautiful island between San Francisco and Oakland, on San Francisco Bay --- Discover Alameda! - 04/03/08 04:38 PM
When I attend one of my sister's soirees at her home in San Francisco and I tell her friends where I live, invariably someone will say, "Ala-where, Ala-what?" I have to tell them that I live in an island city located between San Francisco and Oakland, and to me, it's a … (0 comments)
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"Bottom feeders?" How one agent described people who look for short sales and foreclosures. - 04/03/08 01:59 AM
One property that I was showing in an upscale neighborhood of Orinda (CA) has been on the market for over six months. Typically, homes in this area do not stay on the market for a long time. Our MLS has a feature notation where an agent can mark whether this is a short … (6 comments)
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Short sale does affect credit rating --- but by how much? - 04/03/08 01:20 AM
I have searched several sites, blogs, etc. for a concise answer to the question on the effect of a short sale on one's credit score.
It was mind-boggling to find so many different answers. And I am just as befuddled. For sure the credit score has to be negatively impacted since banks … (18 comments)
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