short sale katy texas: What is a SHORT SALE? - 09/02/11 04:02 AM
What Is A Short Sale?In legal speak, a short sale is a LOSS MITIGATION SOLUTION.  What this fancy word means is that they bank is cutting it's losses!
The home is a short sale candidate when the value of the mortgage is greater than the value of the property.A SHORT SALE is a home SOLD by the OWNER before foreclosure takes place and the lender agrees to accept less payment than what is actually OWED to them.  How does this help anyone?  
1. This helps the bank because they are able to get back their money...generally, the only way a … (2 comments)

short sale katy texas: What's REALLY slowing down my SHORT SALE? - 06/03/11 10:46 AM
Handling short sales from Sugar Land, Katy, Cypress and Houston, I've found one thing to be CONSTANT.
A short sale is NEVER short.  It's a misnomer if I've ever seen one...sort of like the STREAMLINE name associated with the FHA 203K Loan for buying and rehabbing properties...It just isn't true.
So I've recently read that the short sale taking so long is the fault of the bank, the buyer, the seller, the air we breathe and many other things both true and not.
To really understand WHY they take so long, it's important to understand WHO IS GETTING SHORTED.  That's right, … (1 comments)

short sale katy texas: Banks hurt themselves when they do not expedite Short Sales! - 03/27/11 04:33 PM
  The very mention of a home listing being a SHORT SALE is enough to send many real estate agents running away screaming.  Many agents advise their buyers to NOT buy a short sale listing or sometimes they say they will not even work with someone if they insist on offering on a short sale. 

First, as a listing agent that takes a lot of short sale properties, sometimes the buyer's agent isn't in totally unfounded territory.  MANY agents that take short sale listings are NOT short sale agents!  I saw an agent that had over 20 short sale listings … (1 comments)

short sale katy texas: Do you know how to SHORT SALE in Katy Texas and Cypress Texas? - 03/22/11 03:52 PM
I recieved a call from a potential client recently who was considering their options on a short sale in Katy Texas.  Of course, that is one my specialties, but some of his concerns and questions really got me thinking about the short sale process and what a pain it can be.

So how can you know that the agent you hire is the right one? The short answer is that it's very difficult to know.  The interview process is key and yet most do not really know the questions to ask to get the information needed.  The interview process for a real estate … (1 comments)

short sale katy texas: Short Sales Houston Texas, Katy Texas, Cypress Texas - 08/06/10 03:59 PM
How can I find a short sale agent in Katy and Cypress Texas?  
Short sales are a big part of the real estate world right now. It's the hot buzzword of the day around real estate offices. But, not every agent who tries to conduct a short sale is really able to do so. The law doesn't require a specialization so it's important to make sure your agent you hire KNOWS what they are doing. The consequences of failure on a short sale can impact you and your family for years to come!
The first thing you have to do … (0 comments)

short sale katy texas: Why banks are hurting themselves by NOT expediting Short Sales - 04/08/10 10:06 AM
The very mention of a home listing being a SHORT SALE is enough to send many real estate agents running away screaming.  Many agents advise their buyers to NOT buy a short sale listing or sometimes they say they will not even work with someone if they insist on offering on a short sale. 

First, as a listing agent that takes a lot of short sale properties, sometimes the buyer's agent isn't in totally unfounded territory.  MANY agents that take short sale listings are NOT short sale agents!  I saw an agent that had over 20 short sale listings and … (11 comments)

short sale katy texas: Short Sales in Katy and Cypress - 10/30/09 05:31 AM

How can I find a short sale agent in Katy and Cypress Texas? Short sales are a big part of the real estate world right now. It's the hot buzzword of the day around real estate offices. But, not every agent who tries to conduct a short sale is really able to do so. The law doesn't require a specialization so it's important to make sure your agent you hire KNOWS what they are doing. The consequences of failure on a short sale can impact you and your family for years to come!
The first thing you have to do … (3 comments)

short sale katy texas: Short Sale Katy TEXAS finally closes! - 08/03/09 08:54 AM
Short Sale Finally Closed, 2306 Oxford Brook Court, Katy TX 77493
This one just about killed me to get done.  Wells Fargo did everything they could to keep this thing from closing...
This property listed in December 2008 and got it's first offer in January 2009.  The offer was actually a very good one considering what was owed on the property.  
So January, February, March go by and Wells Fargo is slow on the trigger....other offers come in, which  is good because the first buyers bowed out. 
April, May and June go by and we have the clear to sell it, … (4 comments)

short sale katy texas: Another Short Sale in Katy TX: DONE! - 03/27/09 02:48 AM
Yes!
It's the same feeling I get everytime we close a short sale.  This particular short sale was a really tough one to get done.  The bank was not particularly involved with us (in other words lacking communication) and it made for some huge issues during the ride.
I'd also like to take the time to publicly thank all of the agents that showed this great little short sale and to all the buyers who showed interest in it. 
If one of the BEST parts of the short sale is the relief that home seller gets when we finally get closed, … (0 comments)

short sale katy texas: Do you know how to do short sales? - 03/23/09 06:09 AM
 I recieved a call from a potential client recently who was considering their options on a short sale in Katy Texas.  Of course, that is one my specialties, but some of his concerns and questions really got me thinking about the short sale process and what a pain it can be.

So how can you know that the agent you hire is the right one? The short answer is that it's very difficult to know.  The interview process is key and yet most do not really know the questions to ask to get the information needed.  The interview process for a real estate … (0 comments)

short sale katy texas: Short Sale Katy Texas - 02/01/09 01:20 AM
Short Sales in Katy Texas...
A short sale is when the bank or lender holding the note on a home allows the seller, who has gotten behind on their payments, to sell their house for less than they owe on the note.   Not all banks or lenders will participate in a short sale and certainly not ever real estate agent in capable of conducting a short sale.  It takes a lot of work on the part of your agent to successfully market, sell and close a short sale, but if the agent knows what they are doing,  it can be done, … (2 comments)

short sale katy texas: Why would you hire less than the best? - 01/13/09 09:14 AM
I was just browsing through the MLS, looking for some of the "best" deals that I could find for buyers and investors that we are working with right now when I stumbled on a great deal in a very nice neighborhood. 
This home was listed as "SHORT SALE" meaning that the owners are selling for less than they owe on it.  It's becoming more common in our markets as banks seek to cut losses and not compete in the foreclosure market.  So I start looking and upon researching, I find a couple of interesting things.  1. It is listed with a … (3 comments)

short sale katy texas: Another Short Sale in Katy Texas gets done! - 08/15/08 01:39 PM
Yep, this one was a bear!  Getting all the parties on the same page and working through multiple offers, some from buyers who disappeared right after they submitted an offer, but we finally got it closed and made our sellers very happy!
 
The home that we had listed at 4755 Wind Trace, Katy Texas Sold after two months of wrangling!
The market is getting a lot tougher with foreclosures and preforeclosures but here is the funny part I learned.  Banks that are trying to sell properties that they own are dropping prices and yet they are wanting top price on … (1 comments)

short sale katy texas: Short Sale in Katy Texas, going fast! - 05/29/08 10:35 AM
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short sale katy texas: Facing foreclosure? Just getting behind? - 05/08/08 09:01 AM
I was just moved to write this blog post after reading about so many people suffering from the current housing crunch.  While it hasn't affected the Katy Texas real estate market as much as some areas of the country, it is still more widespread than it was just 2 short years ago.
It can happen to anyone and particularly to those that have had Adjustable Rate Mortgages that have "adjusted" just out of reach.  Sometimes it is embarassing to admit it.  BUT, that is the worst thing you can do.  If you are behind in your mortgage or facing foreclosure, sometimes having … (0 comments)

short sale katy texas: Short Sales In Katy Texas - 03/31/08 09:00 AM
Short Sales in Katy Texas...
A short sale is when the bank or lender holding the note on a home allows the seller, who has gotten behind on their payments, to sell their house for less than they owe on the note.   Not all banks or lenders will participate in a short sale and certainly not ever real estate agent in capable of conducting a short sale.  It takes a lot of work on the part of your agent to successfully market, sell and close a short sale, but if the agent knows what they are doing,  it can be done, thus … (4 comments)