We were at an open house yesterday...first time the home was open....it had been cleaned, painted, staged...new roof...basement reinforced....windows washed...cookies and candy at the reception table...all dressed up and ready to go.....

  Enter Ms Prospective Buyer with Boy Friend in tow...in every room...after taking the sales sheet that detailed inclusions and exclusions...."Can I write in the__________window treatments (not blinds...staging materials), antique tables and lamps...Closing cost credit....how about a rent to own....Then I will know if I like it. My agent said I should write in everything...and by the way...would the seller pay points ?"

   No one minds a few "beyond the inclusions" inclusions....and then there are the people who go whole hog...Putting yourself Ms Buyer in the Sellers' Position....wouldn't you want to sell to someone who added some of the inclusions and asked about others  ?  A few manners go a long way to making a happy....and closed transaction.

    To publicly reveal the name of the local bank that after agreeing to a short sale and receiving the closing statement…authorizing their employee to accept the offer and has now greedily reneged on the agreement would be to put us at the same unprofessional level at which we consider them to be at this time.  We won’t do that…..we also will not handle any more short sales from this lender.   We speak with many other agents in this market who have questions about short sales….we will not in good ethical conscience…something this lender lacks….encourage them to work with this lender either.

    We know that the lender has hundreds of properties that have taken back because they have no clear or realistic understanding of the market.  We know they have received offers for and above the appraised amount of the property…..and rejected them because “they need more.”  They have admitted over and over…they would not lend more than the appraised value…BUT they somehow expect that would one of their competitors or the fairy godmother/father of lending will magically wave their wand and strike the deficiencies…now deservedly piling higher and deeper on their ledgers.

    We are very fortunate that the buyers have stepped up to fill the void between the appraised price and what  “the bank had to have” and we were able to save the sellers from foreclosure. We won’t be able to save the lender from themselves as they continue to our minds, their less than ethical business practices that may well  find their institution, upside down.

   When we take listings on short sales...we explain the process....we give the seller(s) lists of resources which include attorneys, accountants, credit consultants....we are not and do not pretend to be...any of those things.  Know what you don't know and don't put much credence in the water cooler conversation...never know the source of those "facts."

   It can be in 30 days...it might not be for six months...and sometime...very rarely,...it never happens.. the seller(s) are served with what looks like the scariest bunch of paper they have ever seen...a Notice of Default. Short sale listing agents...we know that you told your sellers that this would happen...maybe it already did by the time the seller contacts you...Sometimes it takes an official legal paper to jar the sellers into the reality...but typically the sellers believe as we all do...what we want to believe, not what reality dictates we believe.

• They are not going to sell their home for the price they imagined
• For Sale by Owner isn't going to save the house and the commission they won't pay with a short sale
• A discount agent that hasn't told them the house would not appraise for the list price
  

     The sellers are already overcome with debt and the thought of incurring legal expenses is more than they can tolerate. Know that there are resources for legal assistance if you require it...and that the NOD while it looks scary, it just a part of the process in a short sale.

    We had a seller who had to leave the state to get gainful employment...Linda was screaming...and the e-mail was piled high with a copy of the NOD she received....we reminded her that it was in the outline we gave her, the conversation we had initially...a NOD is a legal requirement.  Two weeks later we had an offer and the horror of being served legal papers went away and it was replaced by a good night's sleep with a comforting, well financed offer. Don't let a NOD frighten you....get the help you need from a qualified short sale realtor who can refer you to the professional resources you require.

   We are proud to present our newest listing....the cutest country bungalow ever.  The sellers have worked themselves silly....the brand new tear off roof is being put on as we write...AND for the first time...with new roof, fresh paint, reinforced, waranteed foundation...beautiful hardwood floors...country size kitchen with stove and refrigerator...on over an acre...it's yours at an unbelievable price....all 3 bedrooms and one bath...$167,777

  OPEN SUNDAY, November  8th - 2-4 PM

   4065 South Woelfel Road - Calhoun to Observatory, West on Observatory to Woelfel - a squidge North...

                   Bring your Checkbook....!

  I am not sure when I quit smoking...I don't know what day I got licensed...I know our oldest "son" Cat...Cosmo is about 13....some days just don't stick in my head...but today is my two year anniversary...I was let's say...heavier...an insulin dependent..6 shot a day diabetic...had sleep apnea and was rapidly adding more life threatening complications to my health history...

  Enter my lifeguard....life saver....Dr. Manfred Chiang...the Bariatric Institute....I won't go into the details of this very minor surgery except to tell you....I am a zillion....well maybe not quite...pounds thinner...I am NOT diabetic...I do NOT have sleep apnea...I have lost TONS of dress sizes...my shorts and pants are now good will donations....I have more energy than ever...

   If you know anyone who is overweight and struggling...send them this blog...it's a lifesaver....Happy SKINNIER anniversary to ME !

On your mark...get set ....BUY !

   In no particular order….here are the BIG FOUR reasons you need to look at when you list/sell your home.

  - Location –Not much you can do about that you say…it is where it is…true enough ! But who knows that ?  Is there a sign on the lawn ? Are there directional signs to the property ? Is it listed in MLS with easy to understand directions ?  What internet presence has your agent given your listing ?

 - Condition – “Handy man’s special” and “as is” don’t get it anymore…and neither do the people who want to finance them….not sooo much…condition for financing/appraising and showing well in an often over loaded inventory market is optimum.  If there are major structural and/or mechanical  issues…the roof, foundation, furnace…credits to the buyer don’t do the trick…they won’t be able to finance the roof that leaks, the basement walls that lean, the furnace that spouts carbon monoxide…where there is a will, there is a way…ask your realtor how this can get done professionally before listing.

  Old peeling paint…dated…..carpet, light fixtures….not every update has to cost a zillion dollars…clean it for starters….paint it….make it inviting…if you wouldn’t buy it...will someone else in the condition it’s in ?

PROMOTION -  If  you listed your home with a discount or less than full service agent, the money you saved came from the marketing that isn’t done…the open house you didn’t have, the signs, the internet exposure…the availability of the listing agent (or your own if appointments are thru the seller) to show the property at the time the interest is the highest…when the buyer wants to see it.  Your home IS wonderful….but difficulty in getting a showing will mean the buyer(s) just say NEXT !  If you aren’t everywhere on the internet…if you aren’t listed in MLS…if you think listing the property “by owner” is saving money…statistics show that is not the case. All sales efforts are a numbers game…you need to expose your listing to as many people as possible to find the right buyer qualified to buy your home.

PRICE – Oh Surprise ! It will never be about…what you need, what you have to have, what you want, what your neighbor says he sold for, what pays off the mortgage, the HELOC,  it will always be what the market says….Be SURE that the agent who lists your house has showed you comparable homes that have sold RECENTLY…in the last 90 days.  If an agent asks you want you want for a price…you tell them what you “have to have”….you are asking for price reductions and will end up getting less than you would have if you had listed at a price the market has indicated.

The Buyers are out…the Buyers are out….Now is the Time…the BIG 5 are what they always were…Live Happily Ever After…Happy Sales to YOU !

  It was Monday...it was a full moon (or looked like one) and the phone rang....the caller began...

   "We have been referred to you by_________" to list our house and we would like to meet with you right away and get our home on the market....it has lake frontage....all updated and mechanically sound...it passed the inspection and the financing fell through." 

   Ahhh....music to our ears....Knowing the referral source...I asked the caller if she was upside down...no, no ...the realtors (all five of them...yikes !) just didn't understand....the house...the market....how to promote...

    We list the house this week....were five realtors wrong...hmmm.....who wouldn't move the price...who didn't mooove with the market....

   If a house has been on the market more than___________(pick your timetable depending on your neighborhood), and the price hasn't been reduced...the location is wonderful...the condition is great...someone was hanging onto equity hope....the realtor bought the listing....and put the sellers into unnecesary hardship. Sellers in this situation often....borrow money to pay the mortgage from relatives, friends (who soon may not be), credit cards....to learn that it was not the realtor....the condition really was wonderful....the location was fine...the price...was going to be "not so much" .  Not so much to cover the mortgage....the commission, the taxes....

   If you find yourself in this position...Call us...no matter where you are in the country...we can get the help you need to determine what alternatives you have to the stress...the length of time you have kept your home on the market...the bills, taxes, interest that continue.  Be good to yourself....get the help you need and the professionalism you deserve.

Such good advice.....You may want to ask your physician...or check your family tree...enjoy !