Broker Bryant's Real Estate Ramblings

Will I have to sign a promissory note if I do a Short Sale?

Bryant Tutas-Tutas Towne Realty, Inc — Thu, 19 Nov 2009 16:36:40 -0600

Possibly. I have found that more times than not the Seller is not only willing to but wants to make a cash contribution or sign a note to get the deal done. It helps them to feel better about their situation. Most people WANT to pay their bills and honor their obligations

Our job as your Short Sale Agent is to give you, the Seller, the facts and let you make the decision.

Here are two responses recently received from Bank of America and how they were presented to my Sellers.

What Bank of America is really saying is "Yes we approved your Short Sale request now let's work out the details". This is the response we want. Right?

CASE #1

In response to your counter offer, BofA will not budge. They rejected your offer of $500. Below are the 2 options they have given.

OPTION 1: total proceeds of sale toward the 2nd $7,500.00 Can be any combination of proceeds of sale AND 'cash contribution.

OPTION 2: $3,000 proceeds of sale PLUS new deficiency note for $5,000.00, payable at $150.00 each , 0% APR.

We already have $2,350 to give to the 2nd so subtract that from the $7,500 figure leaving $5,150 needed for the first option and for the 2nd option it would require $650 cash and a note for $5,000. The notes are soft which means they have zero interest and they are unsecured.

Now we could try to get the buyer up higher. Although I personally feel this may cause an appraisal issue with their mortgage. The note could possibly be negotiated for a longer term, say 5 years. That would make the payment $83.33. They may even go 7 to 10 years.

Please consider your options and let me know. We need to give them a response no later than tomorrow.

CASE #2:

I have just received an email from BofA. They are asking you to contribute either $3,000 cash at closing or they want you to sign a $10,000 soft note. The note would be interest free. I would think they would be willing to go either 5 or 10 years. on the note. 5 years would have a payment of $166.67 per month and 10 years would be 83.33

What are you thoughts? The other items are things I would take care of. Please let me know as soon as possible as time is of the essence.

***I am not an Attorney and cannot give legal advice. You are advised to seek competent legal and tax advice. Any decision you make may have negative repercussions.

Now I don't know what these particular Sellers will decide. They may accept the offers or they may want to negotiate. Once they decide I will act accordingly. I do feel that both of these Short Sales will get closed. Any questions?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

FHA and USDA Buyers are NOT 2nd class citizens! Or are they?

Bryant Tutas-Tutas Towne Realty, Inc — Tue, 17 Nov 2009 15:49:01 -0600

FHA Buyers, at least in my market, are normally placing the minimum amount down, 3.5%, and asking the Seller to pay 6% towards their closing costs. In a market where 87% of the sales are distressed properties, FHA Buyers, in the eyes of the Seller, are second class citizens.

It's not only difficult for FHA Buyers to find a property and get an offer accepted but....they pay more. That's right, the folks who can probably least afford it have to pay more to get a home.

Here are some stats I pulled today that will back up that statement.

During the period 1 October to 17 November 2009 there were 162 single family homes that sold in the Neighborhoods of Poinciana Villages. 30 of these were purchased using FHA financing.

***Check out this little chart:

	Beds	Baths	Sq Ft	List Price	Sold Price	Price/Sq Ft	LP/SP
FHA	3	2	1821	$76,280	$78,880	$43.73	104%
Others	3	2	1847	$70,267	$70,404	$38.63	101%
Difference	NA	NA	(26)	$ 6,013	$ 8,476	$ 5.10	3%

***Data pulled from the Mid_Florida Regional MLS on 11/17/2009 and is deemed to be reliable.

So what do you think about that? FHA Buyers are getting less house and paying 11% more. Even if you take out the 6% in closing costs assistance FHA Buyers are still paying 5% more....for less house.

Should FHA Buyers be treated like second class citizens? I don't think so. Maybe Sellers Lenders should have more incentive to help these folks get a home without having to pay more than others. OR...maybe Buyers need to save more money before getting into the housing market.

What say you?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Florida Foreclosures. Be prepared to pay higher than asking price

Bryant Tutas-Tutas Towne Realty, Inc — Sun, 15 Nov 2009 13:27:10 -0600

How many times have you heard "I want to buy a foreclosure so I can get a deal" and "I was told I could buy foreclosures for 20% less than asking price"?

I hear these things every day. It's frustrating when you try to explain the "market" to potential buyers and they don't listen to you. I'm sure they figure that all we are really doing is trying to sell them. Well they are right. We do want to sell them a house. BUT...we also want to make sure they get the house they want and are able to buy a house.

In my market, Kissimmee Florida, the well priced foreclosures are flying off the shelves. It is imperative that buyers understand the market or they'll end up without a property at all.

So....hopefully this article will help you to understand the market in my area. As you can see, there were only 21 REO (foreclosures) properties that sold in Poinciana Florida between 1 October and 14 November 2009 that fall within these parameters:

Built in 2000 or later.

At least 1500 sq ft living area.

Priced less than $65,000.

Of the 21 sales only FOUR sold for less than the asking price. The average was 110% of asking price. That means a house priced at $60,000, on average, sold for $66,000. This means if you are looking for this style of property offer at least asking price and be prepared to go higher.

Knowing what a property is worth will make it easier to prepare an offer that will be accepted. That's where we come in. Does this help?

Here a list of the properties used for this report with their asking prices and selling prices. Check it out.

Florida Foreclosure Report

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

www.ShortSaleSuperStars.com. 534 Professionals waiting to help you.

Bryant Tutas-Tutas Towne Realty, Inc — Sat, 14 Nov 2009 17:41:12 -0600

Hi folks. What a week we have had!! The revamping of www.ShortSaleSuperStars.com seems to have gone over very well. Thank you for all of your positive comments on the new look.

Would you believe that in the last week we have had 785 absolute unique visitors? And we had 11,569 page views!!!

40 new members this week brings our total to 533. What else can I say? The growth of the network this week has been phenomenal. Thank you!

Due to this rapid growth we asked Jeff Payne to help us moderate the site. He gladly accepted his first order of duty which was to delete duplicate profiles and make sure all members are using First name/last name in your profiles. The first is for obvious reasons the second is to help with the new short sale agent search features.

That reminds me......please add yourself to the short sale agent referral map . We want to be able to find you to give you business. Just hover on the "Find an Agent" tab and you'll see the link to the map.

OK one more thing. Groups. Groups are the backbone of the site. Being able to find accurate info on the lenders we are working with is paramount to our success. If you are working with a short sale lender and can't find a group set up for them then please set one up. Or email me, Wendy or Jeff and we'll set it up for you.

I can't stress enough how important this is. The group should be set up in the name of the short sale lender. It should have current contact information, web address and any forms they require as part of their short sale package. You can place this stuff in the first text box. Ask for help if you need it.

We really want to make sure the short sale lender information is kept current. Please help. OK?

OK I think that's it for now. As always let us know if there is anything we can do to improve the site. Our goal is to make this the best place on the web for folks dealing with short sales to get their information. How are we doing so far?

Until next time....Learn, Know and Grow.

Together we can make a difference.

Wendy and Bryant

Available Short Sale Agent Training:

Wendy Rulnick and Bryant Tutas
www.ShortSaleSuperStars.com

Another Kissimmee Florida Short Sale Approval

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 13 Nov 2009 16:45:43 -0600

It only took 7 months BUT we have another Bank Of America Short Sale Approval.

Location:

Kissimmee Florida.

Details:

Placed on the market with Tutas Towne Realty on March 1, 2009 at $89,000.

Went pending on April 17th at $79,000 all cash Buyer.

Mortgages:

$188,000 owed on the 1st Mortgage with Bank of America.

$25,000 owed on the 2nd with Real Time Solutions.

Challenges:

Keeping the Buyer on board for almost 7 months.

The 2nd started out with Bank of America and was sold to Real Time Solutions about 5 months into the transaction.

The Seller is an investor than owns multiple properties.

Outcome:

Bank of America netted $69,000 (37% of what was owed).

The 2nd received $3,000

Only $500 cash contribution required from the Seller.

NO note

Happy Seller. Happy Buyer, Happy Agents

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Foreclosure Tour Kissimmee Florida

Bryant Tutas-Tutas Towne Realty, Inc — Thu, 12 Nov 2009 16:04:09 -0600

Hi folks, Depending on who you listen to the foreclosure rate in Polk County Poinciana Florida is any where from 15% to 20%. I have no problem believing this since roughly 85% of the sales in this area are either foreclosures or distressed sales.

According to RealtyTrac there are 1,401 properties that are in foreclosure (Lis Pendens filed) on the Polk County side of Poinciana. There are 10,685 homes in this area. So let's call the foreclosure rate a minumum of 14%

VIEW ALL DISTRESSED PROPERTIES FOR SALE IN POINCIANA FLORIDA

Here's a little video I made yesterday that will show you what a 15% foreclosure rate looks like. The video was made going about half way down the road and only shows one side of the street.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Blogging, features and high school. Are they related?

Bryant Tutas-Tutas Towne Realty, Inc — Tue, 10 Nov 2009 17:27:57 -0600

Can you guess which one is me?

OK folks, here's something I don't do that often, a blog post about blogging. I know...I know....booooring.

But every now and then I just feel I need to get it out there.

There have been quite a few posts lately about "Featured posts". And as usual the conversation gets around to the "popular" bloggers. I happen to be one of those "popular" bloggers and have been pretty much since the beginning of AR. In fact I think I may have had the first featured post ever. Since then I have had.....are you ready? 259 featured posts!! There...I said it

Is that fair? I doubt it. In fact there have been times where I didn't even want to post because I knew it was going to be featured and I felt embarrassed about it. Just last week I asked to have a post removed from the dashboard.

Maybe I do get featured too often. BUT I have no control over what gets featured. That's up to whoever has the power to feature posts. I don't solicit features, comments, subscriptions or readers. I just write and post.

I do however have a blogging plan. I always have and I stick to it.

This is what works for me. You have to find your own plan and style.

***In my opinion, there are several things that contribute to having a successful, well read blog on AR. First and foremost is providing good content that folks will want to read. I've found that in order to achieve this, a blog post has to be:

Informative
Easy to read
Eye appealing
Entertaining

You can put out the most informative post possible but if it is lacking in the other areas, it will get passed by. Folks like an easy read and they like to be entertained. The key to writing is to try and find a balance in these areas. You also have to be consistent. People have to know what to expect when they click on your blog. You need an overall theme.

It also helps to post at the same time and on the same days of the week. And don't post too often. I post 3 or 4 times a week. This builds anticipation.

You also have to be consistent in the "personality" of your posts. It has to be real, not fake. People can tell the difference.

Our personal lives, our business and AR are ALL built more successfully by being likable. It's human nature for people to gravitate towards people or things that make them feel good about themselves. This is where the social side of ActiveRain comes in.

Interacting with your peers by commenting is imperative if you want to be noticed. And not just commenting but commenting well. Well thought out comments that add to the post AND comments that make the writer feel good about themselves.

You don't have to agree with what they write. You can certainly have strong opinions and debates BUT debate the topic and respect the person. Good communication skills mean you can disagree with some one without being negative. No one likes negative people. If you have a reputation for being negative you are dead in the water. Negative is:

Whining,
Moaning,
Constantly complaining
Belittling others

If you do these things you will fail in life, business and on AR.

When I read posts, talking about "cliques", the "popular" people and blah blah blah, I truly don't know how to respond. Am I supposed to be ashamed of being popular? Should I try harder to be not liked? Should I change my writing style? Should I defend myself? Or should I just consider the source and ignore it? I just don't know.

And that's all I have to say about that. For now. What say you?

***I am not a blogging expert. I'm just a real estate broker that likes to share what I know. Hopefully it will help.

TLW has just added her thoughts to this discussion: Blogging Bertha. The Original Attention Whore.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Foreclosure Prevention. Another Successful Kissimmee Florida Short Sale.

Bryant Tutas-Tutas Towne Realty, Inc — Mon, 09 Nov 2009 16:10:31 -0600

Avoid foreclosure. Another successful Short Sale Closing with Fifth Third Bank.

Mortgage amount: $185,000.00

Sales price: $87,500.00

Lender agreed to 3% in closing costs and a 6% commission.

Net to Lender: $77,078.00 (42% of amount owed)

Fannie Mae was the Investor and there was Mortgage Insurance (MI).

Challenges:

The Mortgage Insurance company started out wanting $60,000 in any combination of cash and/or promissory note. We negotiated for 2 weeks. The Seller ended up bringing $1,000 to closing. No note.

The first Buyer walked after keeping the property off the market for 60 days. The 2nd Buyer closed 38 days after going under contract.

Total time from placing the property on the market until closing: 205 days.

Seller testimonial:

Dear Bryant

"I want to personally thank you for your exemplary handling of our recent real estate transaction. From day one you were a professional; courteously and patiently guiding me through the entire process. Your response time was unparalleled; you responded to my emails and phone calls within minutes, as if I were your only client!

And I believe that’s what every seller (and buyer) wants – to get the idea, or enjoy the feeling, that Bryant Tutas is their exclusive agent! I tried quite a few real estate agents before I finally came to you, and you jumped into action from day one! My property had been on the market for more than a year; within days of contacting you I had my first real offer, and very soon the house was in contract. We just closed a few days ago, and I am so grateful for all your help. Thank you Bryant, for everything!" MARK

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

www.ShortSaleSuperStars.com was completely revamped last night!

Bryant Tutas-Tutas Towne Realty, Inc — Sun, 08 Nov 2009 18:44:27 -0600

Go check the new layout and look for ShortSaleSuperStars. There is one slight problem though........I didn't ask Wendy and she hasn't seen it!!! This look could be very temporary.

So.....am I going to be in trouble? I guess we'll have to wait and see.

Anyway....here are my thoughts.

The site needed to have a cleaner look.

Wendy and I had talked about getting our "product pitches" off the front page. So I moved the pitches and replaced them with buttons and a "Short Sale Training" tab. We will also be adding a "SuperStar Store" tab that will have tee shirts, mugs and other ShortSaleSuperStar goodies.

The wording on and the position of the tabs were changed. It looks more like a news site (I think).

The profile questions have been changed. The change was made to make it easier to "Find An Agent"

Blog posts now have a new tab "Short Sale News" and the forums are under "Q&A".

The tab for groups was changed to "Lender Info".

We added an "Agent Referral Map"

These changes were designed to make the site more consumer friendly. We want potential Sellers and Buyers to be able to find us and be able to navigate the site with ease.

So what do you think? Wendy.....do you still love me or am I in trouble. I can fix it I promise.

Please pop over and give us your feedback.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

www.ShortSaleSuperStars.com Weekend Update

Bryant Tutas-Tutas Towne Realty, Inc — Sat, 07 Nov 2009 10:33:01 -0600

Good morning fellow and future Short Sale SuperStars,

First Wendy and I would like to welcome all of our 25 new members this week. We also had 611 Unique visitors this week and 5,282 page views. 23% of our traffic is coming from the search engines. What that means is that we have buyers and sellers visiting the site.

In fact, we actually had a couple of sellers join this week. So…..we want them to be able to search for a Short Sale SuperStar. With that in mind we have made a couple of changes this week to make it easier to use the search function. But in order for the search function to work properly we need your help.

Please go to your personal main page*** (My Page) and right under your picture click on manage my page. Then click on profile. If you scroll down you’ll notice we changed the profile questions. Add your first name, last name, State and city.

***What? You don't have a personal main page? If I were doing Short Sales or wanted to learn howe to do Short Sales then I know that I would pop over and join the site. It's FREE!!! www.ShortSaleSuperStars.com

OK now where was I........Now you may already have your name on the site but go ahead and do it again. Also, you can add more than one city. Just separate the cities by commas. For example: Kissimmee,Orlando,Haines City.

Once this information is there people can use the search function under “Members” and pull up Short Sale Agents by State, city or name. Also, we’ll be adding a Google site search to the front page. So making these changes to your profile is very important. OK?

A couple of more items. We created a ShortSaleSuperStars fan page on Facebook. You can become a fan by clicking on the “Fan Box” in the right hand side bar of the main page of the site.

Short Sale Superstars on Facebook

OK….I think that’s it. As always Wendy and I appreciate your feedback. Good or bad we want to know. Pop us an email.

Almost forgot…..thanks to everyone that purchased The Negotiator Interview, Short Sale Agent Training or the Short Sale Listing/Submission Package this week. The little bit of income Wendy and I get from these products helps to pay for the running of the site. And hopefully the products offered have helped you in your business. We will be launching new stuff in the near future.

We hope everyone has a great week. Don’t forget to invite a friend to join the site. We want to have 1,000 members by the end of the year.

Until next week…..Learn, Know and Grow.

Together we CAN make a difference!

Wendy and Bryant

Bank of America Short Sale Approval!!

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 04 Nov 2009 14:23:40 -0600

Hi folks, Miracles do happen. After many months of phone calls, updating documents and keeping the buyer on track we finally received an approval to close on a Bank of America Short Sale.

Only one small issue........they approved the wrong Buyer and the wrong contract!!!

So, we start over.

I love Short Sales. I really do. There can be no other reason that I would deal with this crap day in and day out.

Need help with your Florida Short Sale? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Social Media. How to. What to. When to. Who to.

Bryant Tutas-Tutas Towne Realty, Inc — Mon, 02 Nov 2009 15:34:25 -0600

Social Media. How to. What to. When to. Who to.

Have you ever wondered how many Social media experts there are out there? If you do a Google search for "Social Media Experts" you get 80,000,000 results. Holy crap Batman!!

Now I'm sure this figure is waaaay off so let's say there are a million "Social Media Experts". A million people telling us.......

How to interact with others online.
What to write/post/tweet/update about.
When to write/interact/tweet.
Who to befriend, become a fan of, linkin with.

If Social Media is about interacting with each other then shouldn't we know this stuff already? Aren't we already social? Don't we interact every day?

Why do I need time to "find my voice"?

If I have to follow guidelines and advice on How, What, When and Who then wouldn't that mean I'm not being myself? Shouldn't we have learned this stuff when we were children?

Here's my advice. Be yourself. Good, bad or indifferent. Be yourself. Quit trying to fake it.

I can tell a fake from a mile away. Can you?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

The Buyer CMA. Do you use it?

Bryant Tutas-Tutas Towne Realty, Inc — Sat, 31 Oct 2009 13:28:16 -0500

Hi folks. Lenn Harley wrote a post today titled "Looking at Real Estate Teams and Team Specialists". If you haven't read it please take a moment to do so. In her article Lenn wrote...

"The assumption is that training for property valuation is for listing agents for CMAs and not for buyers agents. IMO, one of the most valuable skills any real estate practitioner can have is that of accurate property valuation."

I have to say I agree with that statement. As most of you know I have been primarily a listing agent for many years. Over the last 18 months or so I have had to revamp my business and now find myself working with more and more Buyers.

I find that one of the advantages I have is that I know how to value property. My market is saturated with foreclosures and Short Sales. Because of this, the listing price means nothing. The listing price is normally quite a bit lower than what the property will eventually sale for.

The purpose of a low listing price is to create a bidding war. I completely understand this strategy and have no problem at all working within the rules of this "game".

My Buyers are counseled to make offers based on the value of the property not the list price. This is very important for Buyers and their agents to understand when working in this kind of a market.

How many of you have had Buyers that insist on offering below listing price on every property they look at? How many of you counsel then to do this? Is the extent of your counsel telling Buyers to offer 90% of list price? Be honest. When was the last time you prepared a full blown CMA (Comparable Market Analysis) for a Buyer?

Do you even know how to prepare a market analysis? From some of the offers I see coming in on my listings my opinion is that..no..you don't. Your Buyers are missing out on properties because they are hung up on the listing price. Your job is to make sure this is not a stumbling block for them. The best way to do that is to make sure you are giving your Buyers a CMA.

This Buyer CMA can be for a specific property or it can be based on the style and type of property they are looking for. Does that make sense?

Here's a CMA I prepared last week for a Buyer. We ended up getting his offer accepted even though there were about a dozen offers on the property. Check it out. Any questions?

CMA 816 Halifax Dr Kissimmee FL 34758

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Short Sale Agents Needed!! We need 500 members before November 1st.

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 30 Oct 2009 16:03:03 -0500

That's right folks....www.ShortSaleSuperStars.com has 466 members as I write this post. Most are Short Sale Agents. Wendy Rulnick and I want to hit 500 members before Sunday. If you haven't joined yet please do. It's FREE!

466 Short Sale pros can't be wrong. There must be something to this www.ShortSaleSuperStars.com site.

Did you know we have agents, attorneys, negotiators, investors and sellers that are members? Every day there are people on there helping each other. The site is AWESOME!!

Did you know we have groups set up for over 30 lenders? These groups give you numbers, forms, secret contacts and helpful hints to get your Short Sale closed. You do NOT have to go it alone.

Did you know all the douments you need to submit a FHA Short Sale are on the site? Just print complete and submit.

Did you know..........OK you really just need to go check it out. OK?

Between Sep 29 and Oct 29 we had.........

Available Short Sale Agent Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Selling Kissimmee Real Estate is like going to the Dentist. Only more painful!!!

Bryant Tutas-Tutas Towne Realty, Inc — Thu, 29 Oct 2009 15:58:12 -0500

It seems like all Buyers want the same thing. Four bedrooms, 2 baths, at least 1700 sq ft living area, no more than 5 years old and less than $100,000. The problem is there are only 22 of them on the market today. 17 of those are Short sales!!! The other 5 are REOs (foreclsoures).

So here's the deal. If I tell you you will not get the property for less than asking price....I'm NOT lying. Properties that are priced right are selling for an average 105% of the asking price. That's just an average. Some are selling for way more than that. In fact, the highest sold for 158% of asking price.

I'm a Real Estate Broker. I make my living by selling property. I WANT to sell you a house. I also WANT you to be able to get a good property at a fair price. If I tell you houses are selling for $42 a sq ft and your accepted deal at $38 a sq ft is a good deal then you need to believe me. I'm not just blowing smoke up your arse.

If you are not comfortable paying more than the asking price then don't. That is certainly an option for you. BUT....you won't be buying a 4 bedroom, 2 bath home, with at least 1700 sq ft, no more than 5 years old in Kissimmee for less than $100,000.

Is that really that difficult to understand? If you don't want to understand it then please just move on. I truly don't need that $1,500 commission.

If you REALLY want to buy a house and want someone that will give it to you straight then give me a call. I can help.

OK....that was fun. Now who can I send this to? www.CentralFloridaShortSales.com

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Kissimme Holiday Villa For Sale. 20 minutes to Disney

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 28 Oct 2009 13:37:18 -0500

Kissimmee Florida Short Sale. Listing price may not be sufficient to cover all encumbrances, closing costs, or other seller charges and sale of property at full listing price may be conditioned upon approval of third parties. Centrally located. Vacation rentals are OK. Very good unit for the price. Close to downtown Kissimmee. 25 minutes to Disney World and the Airport. This is a short sale and does require patience. Please only qualified buyers.

Do you need help selling your Florida Short Sale? Central Florida Short Sales

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Owner Financing Possible on this Kissimmee Florida Investment Property

Bryant Tutas-Tutas Towne Realty, Inc — Tue, 27 Oct 2009 18:03:54 -0500

This is NOT a Short sale or a foreclosure. Just a good property priced to sell. There are 3 bedrooms and 2 baths with 1480 sq ft of living space in this never lived in home. Built in 2007.

Owner will consider financing with 40% down or buy out right. The price is low enough at only $75,000. Would make a great primary residence or rental property. Would easily rent for $750 to $800 per month.

Either way it's ready for occupancy. The AC and heating system was installed this week. Check it out....

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

In order to succeed we must know when to be flexible.

Bryant Tutas-Tutas Towne Realty, Inc — Mon, 26 Oct 2009 17:25:55 -0500

A while back I called one of our fellow ActiveRainers. I did this because I had received an email and could tell this person was struggling a little in their business and needed some words of encouragement. So I called.

Anyway, it seems discouragement was setting in because she was going on listing appointments but was losing them on pricing. Then they would list with another REALTOR® and after several months, and a few price reductions, the property would sell at close to the list price that she had suggested from day one. Have you ever had this happen?

I actually felt a little guilty because I know this person reads my blog constantly and has heard me time after time talk about "NEVER take an overpriced listing".

I know I write about these things a lot. NEVER take an overpriced listing. I NEVER work with Buyers and I NEVER lose a listing.

Well folks, today I want to let the cat out of the bag. I'm a big fat liar!!! There I said it. I HAVE taken an over priced listing. I HAVE worked with buyers and I HAVE lost a listing.

OK..... so now I'm wallowing in the puddle of deceit. Or am I?

One of the attributes of a successful person is the ability to be flexible....being able to read a situation and change directions quickly.

NEVER is a guideline not an impregnable barrier. What that means is, in an ideal World or situation I would NEVER........(fill in the blank).

However, we do not live in an ideal World so we have to learn to be flexible. We have to make judgment calls. Being able to read folks and their motivation is imperative to being a good "salesperson".

We have to make judgment calls on whether or not to work with folks under less than perfect circumstances. If I meet with a potential Seller and they do not agree with my pricing then I MAY take the listing at a higher price. It depends on a few things:

Their motivation. Do they need to sell but have a little leeway with timing?

Is their suggested price within reason? Within 10% or less of where I feel it needs to be is my rule of thumb.

Do they understand what I am telling them about pricing but just feel they want to try a little higher?

Do they trust me and do we get along?

Do I feel they will listen to me in 30 days when I tell them we need to reduce?

Will they sign off on my suggested price and agree that I am taking the listing higher than I have suggested?

If the answer to these questions is yes then I will probably take the listing. My NEVER has turned into a maybe.

My point is, we have to be brutally honest with folks and make sure they understand THEN we have to make a judgment call. Guidelines are set to guide us in our decisions. But our ultimate decisions have to be based on our judgment. This is where our experience and ability to read people comes in.

We will make mistakes along the way but that is all a part of the learning process. So be flexible. There are very few absolutes in real estate or life for that matter. Your success will come when you are able to discern when you need to be flexible.

Be firm when it comes to your ethics and your morals but leave room to change your mind in other areas. Does this make sense? Never? Maybe? What say you?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Selling Florida Foreclosures Virtually.

Bryant Tutas-Tutas Towne Realty, Inc — Sat, 24 Oct 2009 14:07:59 -0500

Tutas Towne Realty specializes in the listing and selling of Short Sales and foreclosures (REOs) in the Central Florida area.

Since most of these properties are sold over the Internet sight unseen we try to capture the essence of the properties by use of numerous pictures and video tours.

Touring foreclosures in Central Florida is always an adventure. You just never know what you will find. Folks facing foreclosure have a tendency of taking out their frustrations on the property. I’ll never understand why.

Anyway…..here’s a little tour I did today on a Poinciana Foreclosure. Enjoy.

Need help buying or selling real estate in Central Florida? We can help.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Short Sales for Foreign Owners. Do they make sense?

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 23 Oct 2009 15:44:01 -0500

Hi folks. I received a very interesting email today. Here it is:

Bryant,

I'm English, live in China, and have NO USA contact except I own an investment home in Davenport. Loan is 220k, worth maybe mid-100's. Do I walk (non-recourse…remember, I’m in China!) or short sell? Appreciate your advice..

Interesting question to say the least. And honestly I’m not sure how to respond. His question brought up a whole bunch of new questions in my head.

What recourse would the lenders have on a foreign investor?

What about FIRPTA?

How would it affect his credit?

Is there any advantage at all for a Foreign owner to go through the Short Sale process.

My market area is about 20 minutes to Disney and this issue is going to be coming up quite frequently.

Richard Zaretsky wrote a post last year about Short Sales and FIRPTA that you may find interesting as well.

Short Sales are not always straight forward transactions. It’s extremely important that we don’t use cookie cutter responses like “A short sale is far better than being foreclosed on”. Is it?

I need answers. Do you have any?

Available Short Sale Agent Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

432+ Short Sale Agents to help you.

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 21 Oct 2009 16:03:31 -0500

Hi folks. We have another great discussion going on over at www.ShortSaleSuperStars.com. This one is about “highest and best” offers and how they relate to Short Sales.

Some Short Sale Agents believe that holding out for “highest and best” on a Short Sale listing is jeopardizing the Seller. They feel we are playing around and may cause the Seller to get foreclosed on because we didn’t get a contract in time.

Then there are those like myself that strive to get the best contract we can for our Sellers. We want to limit our Seller‘s tax and deficiency ramifications in the future.

Most of the Short Sales I deal with are "flips that flopped". Vacant properties that need to be sold. Unless there is a looming auction my goal is to have the property under contract within 30-60 days at a price I can justify to the lender. Highest and best is the offer I am looking for in this period of time.

One of the keys is that I know my market cold. I know what I can get for the property and how long it will take to get it. I'm not guessing and I'm not placing my Seller at risk.

I completely agree that the ultimate goal is to get the property sold. A Short Sale listing should never just sit on the market. They sit because agents are not familiar with the market and do not price the property properly. It has nothing to do with waiting for the highest and best. It has everything to do with lack of knowledge.

The www.ShortSaleSuperStars.com site is to help Short Sale Agents learn, know and grow. The only way we can do that is by having these types of discussions.

There are now 432 Short Sale Agent members of www.ShortSaleSuperStars.com If you haven’t joined yet then please take a moment to do so. It’s FREE and it’s priceless if you are dealing with Short Sales. We have some of the brightest Short Sale Agents in the country sharing and helping each other. We’d love to have you.

The only caveat is that we do not allow whining. www.ShortSaleSuperStars.com is all about finding solutions to get Short Sales closed. The Short Sale Agent members LOVE Short Sales and love helping others. Fair enough?

Wendy and I hope you'll join us. Together we CAN make a difference.

Available Short Sale Agent Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Florida REALTORS(R) needed!!

Bryant Tutas-Tutas Towne Realty, Inc — Tue, 20 Oct 2009 15:41:55 -0500

Are you an experienced REALTOR(R) looking for change?

Are you tired of going to the office?

Are you wanting to step into the exciting new world of WEB.2 technology?

Are you looking for a way to generate leads and substantial income while working from your home office?

Are you looking for a Broker who's available to answer your questions and help you become the best that you can be?

Are you looking for individual coaching and training designed to fit your personal needs?

Are you wanting a compensation plan that makes YOU money?

If you answered YES to any of these questions then Tutas Towne Realty, Inc may be the place for you.

IF INTERESTED CLICK HERE

***Hiring home based REALTORS(R) through out Florida. Monthly fee or split. Experience required.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

A day in the life of a Florida Short Sale Agent

Bryant Tutas-Tutas Towne Realty, Inc — Sat, 17 Oct 2009 14:48:16 -0500

Bryant,

Seller is XXXXX Dromedary Court, Kissimmee 34759. Please send me the listing paperwork and a CMA. I have everything else. We also have new paperwork for you as an agent, the agreement to negotiate as a 3^rd party. I’ve attached everything above. Let me know if you have any questions.

Thanks, Amy VP: Short Sale Division

Bryant,

I spoke with XXXXX today and we discussed the short sale conditions in further detail.

If he agrees to bring funds towards closing and signs an interest free promissory note over 5 years then we should be able to negotiate this deal.

I have received the most recent offer for $103K however would prefer to have a higher non-cash offer provided. Our last appraisal has expired and I will be ordering a new one today and they generally take about a week to return. Once returned I will be in contact to follow up to see if this offer for $103K will be accepted.

Thanks ING DIRECT || Retail Asset Managment

Bryant,

I am in receipt of the short sale offer for this property. Thank you for a lovely short sale package. It appears to be pretty complete. I’ll dig into it more when I have the bpo results. Has the pkg been submitted to BOA? I am ordering the IBPO now. What number do you want me to give them for access?

Thanks and look forward to working with you.

Amy- 3rd Party Loss Mitigation Specialist GMAC ResCap

Bryant,

I would like to express my sincerest gratitude for all the work you have done in selling my house. From the moment I spoke with you, you went to work providing me detailed information and guiding me through the process. Whenever I called you with questions, you patiently answered promptly and kept me informed every step of the way. I was delighted at the level of professionalism you showed by so actively working to sell my house. Your persistent efforts surpassed my expectations when you sold my house within several months. Thank you for making this a positive experience!

Sincerely, Jeff

HEY BRYANT SORRY TO INFORM THAT BUYER IS WITHDRAWING OFFER ON 158 ARGYLE GATE LOOP RD. DUNDEE.

Need help with your Central Florida Short Sale?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Have professional courtesy but don't cross the line.

Bryant Tutas-Tutas Towne Realty, Inc — Fri, 16 Oct 2009 16:43:57 -0500

Hi folks. Let's talk a little bit about professional courtesy. I hear this term quite a bit on AR and in my business. Usually, it goes something like this:

"The listing agent should have told me he had other offers on the property, as a professional courtesy".

"Even though my buyer's offer was a low ball the listing broker should have gotten back to me before the offer expired, as a professional courtesy."

You get my point. Anyway, let me see if I can shed some light on this professional courtesy "thingie". First, I want to say, that anyone who has ever worked a deal with me will tell you that I am very professional in all that I do. I treat my peers with respect. I am always willing to help "newbies" in anyway I can and if I say I'm going to do something, I do it.

But, and it's a big but, sometimes what you are expecting me to do, as a "professional courtesy", is completely against what my customer/client is telling me to do or not do. Last time I checked, I work for my customer/clients NOT my peers.

My job, as a listing broker, is to look out for my Sellers and do everything I can to get their property sold in a reasonable amount of time and for a reasonable price. Sometimes, that may require my Seller and I to "sit on" your Buyer's offer. We may even choose to ignore it completely. We can do that. We may even use your offer to negotiate a better deal with another Buyer. We can do that too.

And you know what? I don't have to tell you I'm doing it. There is nothing unprofessional about that. Your Buyer is NOT my concern. What may seem like my lack of action or response, from your perspective, may very well be a negotiating strategy from my Seller's perspective. Don't jump to conclusions about my professionalism or lack of.

I completely agree that we should all work together and that we do not have to work in a disrespectful manner. We should be professionals in all we do. If you want to be a professional then please remember who you are working for and who is paying you. Your "professional courtesy" could very well jeopardize your customer/client's position. How professional is that? What say you?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Short Sale Approval letters

Bryant Tutas-Tutas Towne Realty, Inc — Wed, 14 Oct 2009 16:10:15 -0500

Hi folks. Ever wondered what your Short Sale Approval will look like? Wonder know more. I have embedded several Short Sale approvals that I recently received for my sellers. These will give you an idea of what to expect when you sell your Central Florida Short Sale.

I have included:

Bank of America Short Sale Approval

Wells Fargo Short sale Approval

GMAC Short Sale Approval

Green Tree Short Sale Approval

HomEq Short Sale Approval

ASC Short Sale Approval

Chase Short Sale Approval

1st Horizon Short Sale Approval

PNC Bank Short Sale Approval

Fifth Third Bank Short sale Approval

I have also included a sample Promissory Note. Folks, if you need help avoiding foreclosure in Central Florida then give me a call. I CAN help. OK?

Short Sale Approvals

Available Short Sale Agent Training:

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES