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short sales: What Are These Lenders Thinking? - 12/06/09 01:05 PM
Short sales and foreclosures in most cases are still taking forever to be resolved.  Lenders are losing many millions upon millions of dollars in the property value of these assets.  Or are these lenders completely incompetent or do they know something that would appear to defy the normal economic laws?
I have seen properties take many months and in some cases a year or more to sell even after a solid buyer is secured.  Buyers get frustrated with the delays and walk away.  Those who are willing to wait it out are not willing to pay as much.  By the time the … (14 comments)

short sales: Lack of Action by Banks is Causing Harm - 11/20/08 12:28 PM
I was speaking to a real estate agent from another state and he was venting about his experience dealing with a short sale.  After 6 months in escrow and next to action from the lender he is told that the loss mitigation guy who was working the file had 3800 files to work.  Let me say that again 3800 files!
I am not a rocket scientist, but logic tells me that if you truly want to move these properties you would bring in some warm bodies to work these files.  There is no shortage of out of work loan officers and … (32 comments)

short sales: Lenders Are Causing Property Values to Drop - 10/08/08 11:15 PM
Lenders are a major cause of property values dropping in many communities.  I am not going to argue about their lending practices and the volume bad loans they issued.  I think that is a given.
The incompetent way lenders have dealt with these bad loans is causing the problem to escalate in communities across the country.  They have made it such a painful, lengthy and expensive process for buyers to purchase these properties that the lenders are forced to accept less money than they otherwise would.  Once they start that cycle in a neighborhood, property values drop, making it impossible for … (61 comments)

short sales: What Takes More Than Three Weeks and is Quite Annoying? - 06/21/08 09:09 PM
Have you ever heard that joke?
Unfortunately this is not a joke.  After three weeks of trying to reach an agent to schedule a showing, I am still waiting. 
A little over three weeks ago, I set up appointments for my buyers to view 6 of 8 properties they wanted to see in a particular neighborhood.  The reason for 6 of 8 was that one the owners had a family gathering and the agent for the other one did not return my calls.
The following week I called again and got no response.  We continued to look in other neighborhoods and … (48 comments)

 
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Randy L. Prothero - Hawaii REALTOR® (808) 384-5645

Mililani, HI

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Century 21 Liberty Homes

Address: 95-221 Kipapa Dr., E3, Mililani, HI, 96789

Cell Phone: (808) 384-5645

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