Ar_home_b_search
 



short sales: Can a bank tell a home owner they have to hire an agent to sell their home? - 12/17/11 03:49 PM

I got a call a couple days ago from a seller that wants me to list their home, but really they don’t! You see they are in a short sale situation, not by much, but enough. They wanted to limit the damage to their taxes by selling the home themselves, saving the commission and getting a smaller 1099 at the end of the year.

What was the problem? The bank told them that they weren’t going to allow them to do a short sale unless they used a real estate agent. They were very upset by that and they … (24 comments)

short sales: Todd, what is it like in a day of a short sale agent? - 11/26/11 04:44 PM

Well after many questions from clients on what it is like to be a short sale agent in this current market of banks being… well, being banks! So, I figured what a better way than to show a picture of a typical short sale agent after a 2 hour phone call with the short sale department at any bank.
… (18 comments)

short sales: Are you a vulture or a savvy investor? - 08/19/11 04:38 PM

You have all seen them, the day the notice of default list comes out, and there is someone on the home owner’s door step with a cash offer. Most of the time the owners don’t fall for these peoples lies, but from time to time the owners waste months and months to find out the banks aren’t going to accept or even entertain these offers. (This then leaves the owners with days to find an agent and a new buyer to avoid foreclosure)
But, then there are the times the banks do accept these offers for whatever reason. So, at … (8 comments)

short sales: Another home left abandoned in Beaverton, Oregon - 07/26/11 02:11 AM

Another home left abandoned in Beaverton, Oregon. Unlike a lot of the short sales and foreclosures that litter our market as shadow inventory, this one served its purpose. Hopefully another couple can move in next year and raise a family together until they are ready to move on as well.
… (9 comments)

short sales: Are foreclosed homes easier to buy the short sales in Beaverton, Oregon? - 02/15/11 12:45 PM

When I get the call and I do on a daily basis with the question in Beaverton, Oregon, “Are foreclosed homes easier to buy than short sales?” I have to say, it really depends on who holds the foreclosure as each bank is different, just as it is with each seller.
You see, I’ve had REO properties that have sold in 7 days for cash before because the bank was willing to work with the buyer, utilities were turned on right away for the inspection, the listing agent did what they needed to do right away, everything went smoothly.

… (4 comments)

short sales: Can you be blackmailed by a client? If I live through this I will be amazed! - 01/25/11 01:06 AM
Today with after two failed short sales thanks the buyers walking days before approvals, we got a third buyer and just hours before the foreclosure my team got the foreclosure postponed. But, when I call the seller, she said “What’s in it for us? We have already gotten you the bank statements and the paystubs twice!”

That is when she made me a deal that I have to say I have regretfully accepted or at least I will regret soon! You see my client is a personal trainer and I’m not exactly fighting weight anymore! She said “Fine, I’ll get … (20 comments)

short sales: I want to buy the house I’m renting, Is this possible? - 12/30/10 08:00 AM

I got this email the other day and I said “Possibly” as it really isn’t a yes or no question without finding out some other facts about the property first. The first is, “Have you been pre-approved for a loan by a mortgage broker?” This is a very important step because if you can’t get pre-approved, then there is no reason to even ask the other questions or even approach the owner of the property.

OK, you now have a pre-approval, the next question we need to find out is the seller even willing to sell? Some people consider … (17 comments)

short sales: Talking to short sale negotiators at the banks was taking away all my prospecting time! - 11/06/10 05:59 PM


Recently I changed companies to Knipe Realty NW and it so far has been a great fit for me and my team is slowing being built out. But, after two days of dealing with some less than intelligent phone systems and negotiators at some major banks, I realized that for two days straight I hadn’t been able to show one home or made one listing appointment. That is when I realized I needed to make a change in my team and add a short sale negotiator.
Now, this new team member already works with a pretty great guy up … (10 comments)

short sales: What happens If Buyer A goes 50 mph from Beaverton and Bank B goes 1,000 mph from Washington DC? - 09/28/10 02:09 PM

What happens when a buyer going 50 mph toward a short sale in Beaverton, OR, while a Bank backed by the politicians in Washington DC is going 1,000 mph toward the house, what happens when the market comes crashing down around us?
Every day we hear of the talk in Washington DC and how their policies are supposed to help the housing market. Last week we even heard that the recession ended in June 2009! To me, that was right up there with the dumbest statements ever to come out of Washington.

So, how are we supposed to fix … (17 comments)

short sales: Silent Saturdays: Beaverton home buyers welcome, no experience necessary. - 07/31/10 12:13 PM

As many of you know that I enjoy working with Beaverton area short sales and foreclosures and as you also know, they can sometimes be difficult. Not only do you have to deal with the banks, sometimes you have to deal with my favorite type of client, the first time home buyer. The first time home buyer has such energy about finding the home of their dreams. There is nothing like buying your first home, you will never have that feeling again no matter how many more homes you have in your lifetime.

So, to all you first time … (13 comments)

short sales: Can a bank go after a seller for fraud if the intent wasn’t to defraud the bank? - 07/06/10 09:29 AM

I had a client that was in the middle of a short sale when the bank started investigating them hard for mortgage fraud. Now when they filled out the loan documents, and signed at closing, all the information was true and they didn’t see any changes on the horizon.
Fast forward to today when they have lawyers contacting them daily and are threatening them with jail time for mortgage fraud if they don’t bring their account current and continue with this short sale. Now, what is happening with this couple is probably happening with thousands of others across our country … (80 comments)

short sales: Todd, please come list my home. I would love to, but you don’t own it! - 06/29/10 04:40 PM

I do lots of preparation when I list a home, but when someone calls me saying they are in trouble and behind on their payments, I always ask what is the date of the foreclosure. Usually I get the answer of they haven’t given us a date yet or not for another 4 or 5 months, we just got the first notice.
Well, yesterday I got a call that gave me the first answer, they haven’t given us a date yet and we haven’t received a foreclosure letter in a month or two. Great, this is one I can save… … (16 comments)

short sales: Tigard and Beaverton Short sales and short sale success mean having to make sacrifices… How far you willing to stretch to have success? - 04/28/10 12:21 PM

Beaverton and Tigard, Oregon short sales are tough on buyers, sellers and the agents, they are not easy to navigate, but when you complete the transaction, everyone is happy! But, what does it take to be successful at short sales? Personally, I think it takes time, patience, and a lot of cooperation from all parties involved. But, again, my question is, “Are you willing to make that leap to make the sale?”

Here on the west coast, sometimes we are at a disadvantage because we are dealing with an east coast bank that may close at 5pm their time, … (5 comments)

short sales: Short sale negotiator or fraud facilitator? (Do you know you may have just committed mortgage fraud?) - 04/27/10 10:31 AM

Back in February I wrote and post called, “Is it lazy or is it good business sense? Now, who should pay for it?” about using a short sale negotiator to help with a short sale negotiation, but in that post it talked about how the seller and their agent wanted the buyer to have to pay for the negotiators service.
But, many negotiators are hired long before an offer has even come in. These negotiators tell agents they do all the work and you get the commission check. Many agents have been jumping on this band wagon for awhile now. … (6 comments)

short sales: Buyers and sellers know a lot more than they used to, so lying will only get you in trouble! - 04/06/10 09:02 PM
In the information age, buyers and sellers have information at their finger tips. No matter where they go on the internet they are finding more and more information and because of this they are a lot more aware of the buying and selling process.  So, if buyers and sellers are asking questions, then you better not make up an answer or you will be called on it.
Recently I was working with a buyer that was very informed and when we put an offer in on a situation, my buyer didn’t like the answers I was giving that I said I … (31 comments)

short sales: Mr. President, stop throwing money at the housing industry, that isn’t the problem - 03/08/10 12:42 PM

By Todd Clark (Broker/Sales Coach) 503-524-9494

This morning I read a report that the President says the problem with the housing industry is short sales and he wants to fix it. I thought GREAT, ABOUT TIME! But then I read the article and quickly I realized that our President has no clue about what is going on with the housing industry. As with most politicians he thinks if we throw money at a problem, he thinks it will go away.
You see, the President says the problem with short sales is that the sellers don’t want to move out … (133 comments)

short sales: I’m working to get my short sales sold, are you? - 03/04/10 08:37 PM

By Todd Clark (Broker/Sales Coach) 503-524-9494

Many agents I’ve talked to lately only take short sales to get buyers leads and I think this is a very wrong way to approach short sales. When you go in with an attitude that it won’t close, guess what, it won’t. I’m so sure that my short sales are going to close that even my vendors on my short sales are willing to wait on payments on certain fixes.


I know my sellers can’t pay and I know my homes need to sell if I want to make money, so … (8 comments)

short sales: Thank you Warren, but don’t we have to fix our economy first? - 03/01/10 03:43 PM
By Todd Clark (Broker/Sales Coach) 503-524-9494


Warren Buffet says the housing market will start to recover by 2011. That is when he predicts demand will catch up with supply, but I have a question. Warren, don’t we have to fix the economy first? Over the past year we have watched the deficit explode to a record high, unemployment has skyrocketed to over 10% in most areas, and then lending has all but become impossible to obtain.

So, how is the housing market going to improve if more and more foreclosures are coming on to the market, unemployment … (14 comments)

short sales: When the banks take forever on offers who really loses? This time it will be the bank! - 12/14/09 04:02 PM

By Todd Clark (Broker/Sales Coach) 503-524-9494

I've had this home listed for over a year now, we have had 8 really good offers and one that was even cash and wanted to close in 5 days, but the bank decided they wanted to think about it. Everyone of those buyers walked, but not this last one, he stuck it out for over 4 months. But, the bank once again took their sweet time.

This home had a renter that really made it difficult to show and I would say we lost at least 100 showings because of the … (15 comments)

short sales: How I saved another agent the heartache of telling them they just were outbid on their dream home. - 10/20/09 12:57 PM

How did I save another agent the heartache of having to tell their clients they were outbid on their dream home? Well, to be honest, it was a simple question that this agent forgot to ask, but a very important one.

I was sitting down in this real estate office, about to start a class on Activerain and social media, when an agent just outside the room starting making a phone call, that from where I was standing, I could hear.

You see, she had a client that had found their dream home in a bank owned … (15 comments)

 
Helping Families Home is a blog set up to help families find that perfect home for them. I have a family and I understand how hard it can be to find a home that everyone is happy with. Let me help you find that home and help your family home.


Find out why I'm a happy grasshopper




Listings

Links

Archives

RSS 2.0 Feed for this blog