short sale information: When the phone rang I almost fainted!
- 12/14/11 11:30 PM
Yesterday, my cell phone rang, it was a long distance number. When I answered, I was surprised no I was shocked when the caller said " Peggy, I am calling your from Chase Bank. I wanted to let you know I am the person who has been assigned to your short sale file for 15000 Alaska Rd, Woodbridge, Virginia 22191"
She continued to say, I wish all short sale packages were so complete. I am going to submit your package for approval.
I said..Wow! This is the polar opposite of my experience with Bank of America. Thank you for your call today, … (6 comments)
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short sale information: Local Lake Ridge Virginia Couple Learns The Hard Way The Move Up Market Is Competative!.
- 08/18/11 06:48 AM
It was back in May 2011 that Erick Blackwelder ( my partner) was showing homes to one of clients. They had been looking for just the right home. They found several that they liked.
House #1:
This is a home they bid on, and they lost. The buyers wanted most of their closing costs paid for and another buyer did not. The buyer that won this bid offered at least $10,000 more than list and did not ask for any closing costs.
Lesson #1: put your best foot forward when making an offer on a Foreclosed Home.
… (5 comments)
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short sale information: Custom Home "Just Listed" in Westridge Subdivision in Lake Ridge Virginia
- 04/12/11 12:08 PM
Erick and Company has just listed another home in the custom home section of Westridge Subdivision of Lake Ridge Virginia. Not many people even know these homes are here, let alone get a chance to own one.
Did you know up in the back section of Westridge, there is a section of homes that are on acreage? Better yet,they are all different. There is nothing cookie cutter about these homes or lots. I think you will be pleasantly surprised. Best of all these homes are on pubic utilities. No worries about well water or septic tanks!
To learn more about … (2 comments)
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short sale information: One Of The Challenges With Automatic Mortgage Payments and New Tax Assessments
- 03/16/11 12:22 AM
This week Prince William County Virginia just sent out the new tax assessments last week. For example our tax assessment went from $555,000 up to $615,000 causing a $133.00 a month increase in escrow payment.
This is not a problem if you can afford it, and you add this new amount to your monthly mortgage payment.
But Those Homeowners With Automatic Bill Pays Beware!
Banks do not always notify you the borrower (ours didn't!) Change your automatic payment to reflect the new monthly mortgage payment amount Why? You can incur late fee's or worse this can be problematic if you are not … (0 comments)
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short sale information: The Phone Rings. While The Man Is Talking I Pull The Historical Data. "Oh Boy!"
- 02/15/11 09:41 AM
Over the weekend I received a call from a gentlemen who was calling to ask questions about selling his home. He mentioned the community he lived in so while he was talking, I went to the Realtor MLS Database and pulled the historical data. Below is a snapshot of what has happened to home values in his community.
"When I shared with the homeowner what the homes in the neighborhood had sold for in the last six months and what the fair market rental prices were. He grew very quiet. "
That is when I shared with him, selling by Short Sale is the answer when you cannot … (0 comments)
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short sale information: So The Reports Are Saying 47.4% of Homeowners in Prince William County Virginia are Under Water On Their Mortgages Heading Into 2011.
- 02/10/11 02:02 AM
A news report in USA Todaythe other day showed a (Chart: Under Water Chart ) where home owners across America are under water on their mortgages. Of course we all know that California, Nevada and Flordia make the list. But did you realize that Prince William County Virginia is ranked #26 on that chart!
According to the report 47.4% of Prince William County Virginia homeowners are now underwater on their mortgages.
A news reporter called quoting this figure, like this was big news or something. I choose not to meet him, it was 7pm at night, dark outside. Seriously, we live here...we know … (2 comments)
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short sale information: Can A Relative Buy My House If I List It For Sale By Short Sale?
- 01/08/11 12:26 AM
Just yesterday I was assisting another local homeowner with all the necessary paperwork involved in obtaining short sale approval from their bank. One of the most important forms that must be signed by all parties to the contract is the "Arms Length Transaction" form.
I am re-blogging another Realtors post on this subject. Read Terrylynn Fishers post on this topic. This is very important information that all short sale sellers need to know about.
Via Terrylynn Fisher, Realtor EcoBroker, CRS, CEP Realtor, Etc. (Empire Realty - BuyStageSell.com):
Question: I want to know if I can short sale my home and have … (4 comments)
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short sale information: Success Story About A Short Sale Seller Who Purchased Another Home In Six Months
- 12/19/10 01:26 AM
So many people are under the impression that a homeowner who sells their home by short sale must wait years to purchase again. That statement is not always true. In fact on Friday, I assisted a purchaser settle on a gorgeous five year old townhouse with a two car garage, granite counters in the Belmont Bay Community in Woodbridge Virginia. The townhouse was totally remodeled and in perfect move-in condition.
Why is that unique?
Those purchasers had sold their single family home by short sale in Dumfries, Virginia less than six months ago!
Yes, you read that correctly!
So now you are asking "How?"
Simple...compromise According to … (38 comments)
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short sale information: This Week's Caller Said " I think I need to sell by short sale...my loan modification is a cruel joke!"
- 11/11/10 12:07 AM
I got a call on Monday. The caller said "Peggy, I think I need to sell my home by short sale. Can you help me. " I asked what's going on.The caller explains that he had been working with his mortgage company for over ten months to modify his mortgage. The gentlemen lost his job last year. He is now working again however they are struggling trying to make ends meet.
Long story short, the bank returned a loan modification agreement in August 2010 and the payment was only reduced by a measly $100 a month! Yes you read that correctly, Ten month of faxing, federal expressing, emailing … (10 comments)
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short sale information: Stunning Video About The Level Of Fraud And Why Foreclosures Are Being Halted. Is Anyone Safe?
- 10/01/10 08:38 AM
Boy or boy, if this doesn't make you angry and concerned, I don't know what will. Take a few minutes and let this information SINK IN. It appears that this Congressman ( Alan Grayson of Central Florida) is very calmly delivering a message to the American People major trouble is on the horizon. If all this is true,I can't imagine how foreclosed homeowners feel like tonight.
My question is now what????
Just a few minutes ago, I saw a comment on Facebook from Ekko Title a local Title Company reminding all REALTORS® to make sure home buyers take out Title Insurance when buying a … (9 comments)
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short sale information: Are There A Lot Of Foreclosures and Short Sale Homes In The Lake Ridge Virginia Area?
- 08/03/10 12:03 PM
Today, I thought I would share with you, how our local Lake Ridge Virginia real estate market is holding up. For those of you who read the recent article in the Washington Post this weekend titled " DC Area Housing Market Relatively Insulated from downturn...report finds" it may not come as a surprise to you that our market typically rebounds faster. The report noted that the Prince William County Virginia market was one of the hardest hit when the housing market unraveled and it is one of the markets first to rebound. ( Thank God...could it have gotten any worse???) I think not!
So how many … (1 comments)
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short sale information: What's Happening To Home Values In Westridge Subdivision in Lake Ridge Virginia?
- 07/19/10 01:40 AM
If you live in Westridge, chances are you've seen a lot of For Sale Signs this year. In the first half of 2010, there have been thirty one homes listed for sale so far. Let me break that down for you since Westridge offers both single family homes and townhome living. There were seventeen townhomes listed and fourteen single family homes. So I'm sure your wondering how does all this activity affect my homes value. Just send me a quick email and I will send you back a quick snapshot of your homes value.
However in the meantime, let me break it down for you. Since January 2010 … (0 comments)
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short sale information: Wachovia Bank Offers To A Local Seller $5000 If Settlement Happens Before June 29th, 2010.
- 06/16/10 12:37 AM
Wachovia Bank Has Wonderful Systems In Place To Approve Short Sales.
When it comes to short sales most Realtors across the country will tell you, they are time consuming and frustrating. With a little luck and a lot of determination your short sale might be approved in three to four months.
However mention the words Wachovia Bank and many Realtors ( including me) breathe a sigh of relief.
Helping homeowners who have a Wachovia Mortgage and who need help selling by short sale is a very streamlined process. Currently I am working with Wachovia Bank for a local Woodbridge Virginia homeowner. This has been a dream transaction … (2 comments)
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short sale information: Wachovia Bank Short Sale Department Is Amazing...
- 06/06/10 02:02 AM
Today's post is just to recognize and thank Wachovia Short Sale department for being so proactive!
Listed and Under Contract at Fair Market Value of $349,000
in Southbridge Subdivision in Dumfries Virginia
"The experience in dealing with Wachovia Short Sale department is the polar opposite of Bank of America or SunTrust Bank."
I've been assisting homeowners in Prince William County Virginia, with selling by Short Sale for sometime now. By far, Wachovia Bank has been the best to work with.
What is it that makes the experience so different? On the Realtors end..this is what happened:
As soon as I submitted the short sale request. A representative called … (7 comments)
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short sale information: An Example Of Why Some Short Sales Take So Long....
- 05/17/10 07:12 AM
Back in December I listed a home to that needed to be sold by Short Sale in Winding Creek at Fair Market Value for $275,000. It didn't take long even with the Christmas Holidays, I was able to present the homeowners with two above list price contracts to consider.T
"The offers I presented the sellers were very good. Both were over list price."
Offer #1. FHA- $285,000, three percent closing costs help for buyer and closing Feb 26th, 2010 Offer #2 VA - $280,000, three percent closing costs help for buyer and closing 30 days from Short Sale Approval. The seller choose the contract #1 … (7 comments)
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short sale information: A Very Good Video That Explains The Federal HAFA Short Sale Program- "Understanding HAFA"?
- 04/20/10 11:58 AM
Are you trying to figure out if you can qualify for the Federal Short-Sale Program. You're not alone. Above is a video produced by the National Association Of Realtors that really goes into the details of how the program work, who might qualify and other details. It is about fifteen minutes long, however if you need to sell by short sale. This is a video you should watch.
Do you have about selling by short sale?
Let's talk, and discuss all of your options.
You Can Reach me direct at 703-851-3085 or contact me by email .
Contact Peggy James or Erick … (1 comments)
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short sale information: Prince William County Virginia Real Estate Market Conditions Are At A Brisk Pace Heading Into Spring Market!
- 03/12/10 01:22 AM
… (0 comments)
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short sale information: Should You Consider Listing Your Home For A Lower Price When Selling Your Home By Short Sale?
- 03/10/10 10:58 PM
This has been on my mind for awhile and I want to talk to homeowners who are thinking of selling their homes by short sale. Folks, as your Realtor it is my job to get you the best price the market will allow. That goes for any home I list, not just homeowners who have equity.
Selling your home by short sale is no different that selling your home the traditional way. You must put your best food forward, take care of your home the best you can and hire a Realtor who will market your home, and get you the … (2 comments)
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short sale information: Why Wait For A Short Sale When There Are 37 Approved Short Sales In Prince William County VA Right Now!
- 01/21/10 09:38 AM
That's right! I just scrubbed the MLS Database to see if there were any Approved Short Sales for one of my clients. I was surprised to see there are actually 37 Approved Short Sales waiting for new owners.
What is an Approved Short Sale? An approved short sale is exactly what it sounds like.
The list price and terms have already been approved by the homeowners bank. The Listing Agent has the terms in writing and so does the Title Company.
No One Is Going To Make You Jump Through Hoops!
Typically, there is no negotiating on these types of … (2 comments)
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short sale information: The Caller Asked: We Have A VA Loan On Our House...Can We Sell By Short Sale?
- 01/14/10 04:52 AM
It was back in September that I got a call. The caller said " Peggy, I was reading that you help people who might need to sell by short sale in the Woodbridge VA area.We live in Lake Ridge and my husband is returning from Iraq . He has accepted a job in another state. Can you sell our home?"
" I asked..."Do you have orders?"
She said "No he is not active duty. Is there help for veterans? Are there any programs that we fit into to short sell our home? The only job offer he got is in another state. He … (8 comments)
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Yesterday, my cell phone rang, it was a long distance number. When I answered, I was surprised no I was shocked when the caller said " Peggy, I am calling your from Chase Bank. I wanted to let you know I am the person who has been assigned to your short sale file for 15000 Alaska Rd, Woodbridge, Virginia 22191"
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