foreclosures: Low Balling In A Seller's Market? Really? - 04/16/13 05:05 PM
This last August something changed around town.  Suddenly almost in the blink of an eye, sales started to rise, supply dried up and I don't mean just a little suddenly we are back in, multiple offers situation. Boom, the beginning of the 2012 National run on Real Estate.  I think it is important to always forward national and local market updates and trends to my buyers in a way to keep them educated to the current market so they make intelligent offers in order to expedite a favorable response to their offers, and if the buyer still insist on "Low Balling" usually after signing and printing, faxing 5-8 … (4 comments)

foreclosures: New Tricks By Asset Managers How o Reply! - 03/05/12 04:53 AM
After 27 years of originating home loans, I honestly was hoping certain "tricks" would never raise their ugly head again. Sadly I was wrong!The first time this happened, I discounted it as a slip of the pen. When this has happened to 2 of my current approved clients making offers, it's no slip of the pen at all.
The offer was made after the Realtor made a diligent effort to find a home which was somewhat undervalued and there was a little room to add some closing costs into the price of the home. So they added $4000 on top of … (2 comments)

foreclosures: Real Estate 2017 Back To The Future! - 02/16/12 02:23 AM
 I attended a Short Sales Certification class yesterday. The speaker was from Bank Of America, after a detailed explanation of how to access and speed up Short Sales with Bank of America on the Equator website. June offered up the fact the next wave of distressed properties would be more Short Sales and Loan Modifications and less foreclosures.
 Why this would be, she didn't say. But after Obamas State Of The Union address it seems the new mode will be "Cram Downs" and "loan modifications" for all who qualify! What that means exactly to all who have already given up and walked … (0 comments)

foreclosures: Buyers Market!! I Don't Think So! Buyer Beware Market! - 05/04/10 09:47 AM
DRIVE BY ONLY. SHORT SALE APPROVED AT 175k. No seller paid termite, no seller paid home warranty, sold in as-is condition. Buyer to pay $175k+ plus $3k as a 'seller contribution' to the lender. Property has tenant inside who has not paid rent in 9 mos. New buyer to evict tenant or re-lease to them.
 
After the lastest seige of buyer frenzy. I thought I had seen it all but something new always manages to amaze even me! Sellers are taking full advatage of todays buyers who must really qualify for a loan and have proof of funds just … (0 comments)

foreclosures: Buyers Be Prepared - 05/03/10 07:17 AM
 

 
I deal with 5-8 e-mails per day requesting information on homes for sale. As a BUYER before we go looking for your new DREAM HOME you will need to have in hand a Loan Approval Letter and Proof Of Funds to close the transaction.
 
This was not the case 3 plus years ago. You just had to have pulse!! Before I will set up appointments to view available homes I will need to have these in my hand. It is the state of the market place today. Yes I remember when you could go look at homes … (0 comments)

foreclosures: What do the Banks Really Want? - 11/03/09 08:14 AM

 
 
 
   After countless all cash offers this counter really takes the cake. Mind you the offer was ALL CASH and $20,000 over list price and a 14 day close. Who is the greedy one, the selling agent (trying to get the most for the bank, so he gets more REO listings?) or is it the Bank? Buyer frustration is at an all time high. It has been tough being on the front lines. I am thinking tax payers are not going to have much sympathy for the Banks next year when they cry for more Tarp Money!!
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