short sales: Short Sales - There's A Lot You Need to Know!
- 02/04/10 09:10 AM
We've had a number of people calling us regarding listing their homes as a short sale. They've heard the expression "jingle mail" and assume all they have to do is get the house listed at an artificially low price, call an agent and list it, mail a set of keys to the bank and live in the house till it settles which could be a year from now and somehow move into something affordable. Wrong. I can't just pull a number out of my hat, you have to have missed payments because of a financial or documented medical hardship. Your credit … (26 comments)
short sales: Atlanta Short Sales - Not So Short and Not a Sure Thing!
- 09/07/09 03:32 PM
When an Atlanta home seller doesn't have enough money to cover what is owed on their mortgage for whatever reason, they will attempt to have an Atlanta real estate agent list their home at a steeply discounted price and a short sale is born. There is no equity - period. A property that may be worth $250,000 is listed for $150,000 in an effort to lure buyers to make offers. In Georgia you will see "potential" short sales where the bank's first contact with the seller comes when the listing agent tenders four contracts on a property and no one has cleared anything with the loss mitigation … (15 comments)
short sales: Mortgage Fraud 101 – Short Sale Fraud
- 07/09/09 09:40 PM
All too often in real estate we focus on the sensational stories and neglect the most obvious abuses of mortgage fraud. Since fraud is involves stealing something that's not yours there are many ways to take something that you are not entitled to. It starts with deception, and ends with the possession of ill gained goods. Since short sales en-masse are so new, everyone assumes the process is transparent and legal. I am taking the position it isn't, and it is mired in deception and fraud. Real Estate has always been know for change - it is our only constant. Right now … (177 comments)
short sales: Wasting Time at the Expense of Others - A Real Estate Passtime?
- 06/27/09 02:12 PM
I read an interesting article recently that talked about real estate agents that really just do not get it. Many of their actions are self defeating to say the least. They spend a lot of unproductive time needlessly pursuing businesses that is totally counterproductive. They will list overpriced homes that they will never sell. These are so improperly price that no other seasoned agent will show, it will not appraise if they do get an offer. We cannot compensate in price when sellers are upside down. These agents will work short sales for months while the odds are probably 20-to-1 that it will never close … (13 comments)
short sales: Short Sales and Foreclosures Damage Credit
- 01/27/09 01:01 PM
Recently we have been receiving a number of phone calls from would be buyers that feel they can buy a home right away because their agents falsely advised them that no damage was done to their credit. This blog post was precipitated by those direct consumer inquiries. I don't think this should come to a surprise to anyone in the real estate industry. I real a lot of Blogs and real estate ads where agents are making pretty much false claims that 'Short Sales' are not "foreclosures" but they are. "Avoid foreclosure" claims may just be a half-truth. The fact of the … (31 comments)
short sales: Atlanta Home Owners - No Equity, No Money - What Options are There?
- 03/31/08 04:04 AM
We are getting more and more calls in the Atlanta real estate market to assist home sellers that do not have equity. Sometimes the terms the use are "pre-foreclosure" "foreclosure" "Short sales" but the reality is those terms are very specific! There could be many reasons for being in this postition. The Atlanta home owner may have purchased a home with no money down, or be in a loan that is adjusting from a teaser rate to a much higher monthly payment! They may not have fallen behind on the payments, but homeownership has become a major financial burden. They may have purchased the … (2 comments)
short sales: Is a Brokers Price Opinion BPO Unlawful?
- 12/20/07 12:54 AM
I came across this article by chance last week, and I thought I would share it. On December 5, 2007 the West Virginia real estate commission has advised its real estate members that Brokers Price Opinions by anyone other than a licensed appraiser is considered unlawfful. I guess there are many agents that supplement their income by doing loads of BPO's for lenders. As long as the payments are made through the broker, in most states they are considered legal. Since many of the real estate markets across the nation are in turmoil. When markets slow dramatically, change is in the wind. … (12 comments)
short sales: Cumming Georgia Foreclosures | Cumming Georgia Foreclosed Homes and Properties | Bank Owned REO Properties Cumming GA
- 10/17/07 03:09 AM
[Home] [Search Homes ] [Education ] [Buying ] [Selling ] [Newsletter] Searching for Cumming Georgia foreclosures in Forsyth County Georgia? Are you a real estate investor looking to buy foreclosed homes and properties in Cumming Georgia? Your search has ended! As your Cumming Georgia real estate agents, we've made things simple for you. Now it is easy to find great deals on Cumming bank owned properties, foreclosures, short sales, corporate owned, FHA and HUD homes in close in Cumming Georgia! By simply searching the above link you will be abel to view current Cumming Georgia foreclosures with one click! Find Cumming Foreclosure … (6 comments)
Canton Georgia Foreclosed homes and properties for sale! If you would like to find one Canton website that finally allows you to search for Canton Foreclosed homes and properties for sale this is it! http://www.atlantabesthomes.com has continued to serve buyers and sellers in the Canton Georgia area located in Cherokee County Georgia. We have allowed you the Canton home buyer and investors to find great deals by allowing a focused search to find Canton Georgia foreclosed homes, and Canton foreclosed condos and town homes. Feel free to search for Canton bank owned homes, corporate owned properties, pre-foreclosures and other distressed properties. If you need the services of a buyers agent … (6 comments)
short sales: Acworth Foreclosures | Acworth Georgia Foreclosures | Bank Owned Real Estate and Foreclosures in Acworth Georgia
- 10/13/07 02:53 PM
Acworth Georgia foreclosures, bank owned real estate and REO properties. ( REO's are properties that have been foreclosed upon and are currently owned by the bank or lending institution!) Currently there are 56 single family foreclosures in Acworth Georgia for sale. The Acworth foreclosed homes range from a high of $459,000 to a low of $66,000. Some of the Acworth foreclosures are new construction with substantial discounts and upgrades, but careful attention must be paid to the level that the construction has progressed before the foreclosure has placed the home in the hands of the lender. Quality of the construction must … (10 comments)
short sales: Am I Missing Something? Short term Vs. Long Term Capital Gains?
- 04/30/07 05:21 PM
The latest craze for the last year or so is flipping homes. You cannot avoid hearing about it, on TV infomercials reality realty TV shows that are all about Flipping homes, Friends of ours have quite full time jobs to pursue this )don't give up your day job!) There are short sale seminars, foreclosure seminars etc... But what about the tax consequences? Short term VS long term gains? Every thing I see on TV is a Short term hold for a fast flip. They always brag about the amount of money they made, purchase price, expenses, and finally they mention the sales price when … (11 comments)
We've had a number of people calling us regarding listing their homes as a short sale. They've heard the expression "jingle mail" and assume all they have to do is get the house listed at an artificially low price, call an agent and list it, mail a set of keys to the bank and live in the house till it settles which could be a year from now and somehow move into something affordable. Wrong. I can't just pull a number out of my hat, you have to have missed payments because of a financial or documented medical hardship. Your credit … (26 comments)
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