If You Are In A Distressed Property, Do You Want to Be Contacted? - 03/27/11 02:54 AM

There are more and more people upside down in their mortgages and not knowing which way to turn. I have found, when these people call me, after having found me through the Internet or a referral, they have gone through a gamut of emotions before finally being ready to talk to someone about alternatives.
So if you are about to miss a payment, or already have missed one or two, does having someone contact you about alternatives help or hinder the process you are going through? I know Realtors who call expireds or FSBOs trying to find short-sale listings, but … (3 comments)

SHORT SALE INFORMATION - 03/24/11 10:28 PM

 
What is a short sale?
A home that is sold for less than what’s owed on the mortgage. This concept can also apply to under-construction homes and the amount owed on a construction loan. Of course, such sales are always subject to bank approval.
Why do banks agree to accept less than they’re owed by loan holders?
Sometimes, banks would prefer to cut their losses and avoid foreclosure, which is a costly and months-long process. Plus, banks are in the business of lending money, not collecting and selling homes.
What kind of homes are good candidates for a short … (3 comments)

BEAUTIFUL PENTHOUSE CONDO IN TACOMA, WASHINGTON - 03/22/11 10:45 PM
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Great First-Time Home Buyer or Military Family Home - Spanaway, WA - 03/22/11 02:49 AM
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Pierce County Washington Sales Statistics - 03/22/11 02:20 AM


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Another Short Sale Closed in Olalla, WA - 03/16/11 07:26 AM
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Another Short Sale Closed in Tacoma, WA - 03/16/11 07:23 AM
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Charming Home in Fircrest, WA - 03/16/11 07:20 AM
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First-Time Home Buyer's Delight in Tacoma, WA - 03/16/11 07:16 AM
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STOP..... DON'T WALK AWAY FROM YOUR MORTGAGE - 03/13/11 02:11 PM

 
A recent study estimates 36% of Americans think walking away is a viable option when they owe more on their home than what it's worth. Clearly, few know the financial consequences of these actions. Even fewer understand the options available to them.
If someone is at the crossroads of deciding whether or not to walk away or "strategically default," they will find nothing strategic about foreclosure, especially when there are solutions to avoid it. Stop, think and research before taking this very drastic step.
 

 
If you or someone you know is facing the possibility of foreclosure … (2 comments)

Are Short Sales For You? - 03/11/11 01:30 AM

I have agents ask me often how I can list and negotiate short sales. I do have "regular" listings, but I love short sales. I feel as if I'm making a difference and helping people in a way that doesn't happen in any other area of real estate for me. The gratitude I receive when the emotional roller coaster is over and the transaction finally closes gives me such a good feeling that stays with me and keeps me coming back for more. I also like to win and so far I've only lost one short sale to foreclosure and … (2 comments)

Signs of Spring - 03/10/11 03:46 PM

Out on Broker's Open today I was noticing signs of spring all over the place. Trees were budding out, some even beginning to bloom; the grass is greener, giving a sense of lightness and gratitude that the winter months are behind. I don't like winter. Never have. Even when I was a skiier, it was just something to help me through the dreary months. One would wonder why I live in the Pacific Northwest, but I have to say there is no more beautiful place on earth than this little slice of heaven.....especially when the sun shines. I have to … (1 comments)

Deed In Lieu or Short Sale - 03/08/11 04:41 PM

 
I'm seeing conflicting information about the benefits of a short sale vs. a deed in lieu. I read somewhere where you cannot buy a Fanny Mae property for 4 years after a deed in lieu as opposed to a short sale being 2 years, and foreclosure 7 years.
Any feedback would be appreciated.
 
 

 

 
Sandy Wagner
Short Sale Specialist - Helping people find a way out of foreclosure
253.225.8322
www.sandywagnerhomes.com
 
 
 
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Pierce County Washington Sales Statistics - 03/07/11 10:43 AM
Here's a comparison of sales for Pierce County.
 

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Short Sales Explained - 03/06/11 02:00 PM

 
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.
But to be technical, here's a more official definition:
A homeowner is 'short' when the amount owed … (0 comments)