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Active Rain Family Does it Again--This Time With Short Sales!

Active Rain Family Does it Again--This Time It's Short Sales!

I had the honor of participating in the first of a five-part series on Short Sales with Bryant Tutus & Wendy Rulnick and the class was absolutely wonderful! As you all know, I've been very fortunate to live in an area that did not have the 'bubble' to burst but, the national economy has slowly but, surely 'trickled down' to Charlotte! We had never even heard of short sales in 2007 and now, we are seeing them--and we need HELP!

Bryant (aka BB--TLW's 'other-half'!) and Wendy, fellow Active Rain members, have offered a five-part "Short Sale Basics" course via webinar at a very affordable price. They have both been participating in short sales for many years and together, share a wealth of knowledge that they're freely sharing with us! Okay, it's not really 'free!'

After some guidance with my first few short sales from TLW, I realized that anything and everything that I could get my hands on that related to short sales was of utmost importance for my very-near-future--and my clients. With the wave of short sales hitting our area now, it has become increasingly stressful to watch agents who don't have a CLUE, list short sales and then have them turn into nightmares--not only for the sellers but, the buyers who are patiently waiting lender approval--that never seems to come to fruition.

I would just like to thank Broker Bryant & Wendy for so generously sharing their knowledge and helping those of us who do want to become perficient in this process, succeed--and, of course, TLW for getting me started until class was in 'session!' You guys are awesome!

Short Sales

A few of the short sale terms that we touched upon during the first session.

Image above created by the Wordle.net web application are licensed under a Creative Commons Attribution 3.0 United States License.

Debe in Charlotte

Posted by Debe Maxwell, Realtor® - Charlotte NC MLS - Charlotte NC Neighborhoods on 06/29/2009 08:26 PM

Comments (27)

Short Sales in the ActiveRain Channel

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27 Comments on Active Rain Family Does it Again--This Time With Short Sales!

JUN

Debe,

You were not doing short sales? That's a surprise. Really, real estate is local in nature. And sometimes it is so weird. Lately, every prospect walking into my office is from Kentucky. Why Kentucky? Have no clue. Actually we never had prospects from Kentucky before. We had a lot from Ohio, New York, Georgia, but never Kentucky. ANd I guess they are not accustomed to short sales either.

Go figure.

Hi Jon! Yes, I am! They're in ALL price ranges and it is so surprising that they've made their way to the Queen City (Charlotte NC)! Sad but, true.

We have a TON of Long Islanders here--we get transferees from Ohio, MD, CT, FL, GA, SC (all over, for that matter) but, for the most part, if we had to pin one area of the country that most of them come from, it's NY. Some of them have come from NY, moved to FL and then come to NC (we call them half-backs!)

Debe, our bubble (what little there was) has deflated too. But not as bad as so many others! I have just gotten into the REO sales and it seems to be picking up. I am so sorry for the homeowners but I have to take advantage of all this. I try to help on both sides.

Deb

Short sales here are big, no huge! But that are a challenge as most of them are "subject to bank approval" a.k.a. we'll get back to you sometime this year! I probably need to take another class. I've had a couple freebies, but I guess you get what you pay for.

I remember seeing this class. With your endorcement, perhaps I can take if it comes up again.

Hey, do you cook up a mean breakfast, or do we hit some local hot spot for breakfast?

Hi Deb! The best part is that we're learning options to help them save their credit to some extent--anything is better than a bankruptcy or foreclosure, right?! So many of them are such sad stories but, I feel like I'm doing something to truly help them--I'd say the satisfaction far outweighs the frustrations from my point of view.

Hi Thom! You know, the freebies are a great way to get introduced to the process but, even as dirt cheap as Bryant & Wendy's classes are, they're chock full of information that I so desperately needed! I think that I've already gotten my money's worth in the first session!! I do know that you can pay for the classes and they will send you the link to the webinar if you're unable to attend. So, they've got the first one recorded already! That way, you haven't missed a thing! Check out either of their posts for more info if you're interested--I HIGHLY recommend it!

What do you mean breakfast? Did I miss something??!!

JUN

I will check this out when I get back from vacation. Hope that I can catch up. Have a great week Debe

Hi Paddy: I'm just so excited about this course--we've had the freebies and my partner completed her CDPE course and has been sharing some great information from that but, this is clear and concise--presented 'chat' style--just PERFECT for me!

Enjoy your vacation!

I haven't done a short sale...not much in my area...perhaps a few. but, looks like I should look into this as well. Don't want to be left out in the cold.

I'm heading to Palm Springs today for a class on Short-Sales. We are seeing more and more and more of them.

AR strikes again!

While I, like you, live in an area where the "bubble didn't burst", we are seeing some short sales now. And when many of those ARM's adjust, I'm certain we'll see more.

There's just so much to learn from the members here.

Great post Debe.

Rebecca: Join in on the FUN! We're seeing more of them and it seems that they're becoming more commonplace every day. I thought I'd better get in while the gettin' was good!

Hi Kat! Congratulations! Enjoy the class and Palm Springs too! (I'm jealous!)

Craig: Those ARMs are going to kill us! I thought I'd best be more than prepared--2010, here we come...

;-)

Debe, I really meant to sign up for the webinar but couldn't get it on my schedule. It sounds like it was well worth the time!

Debe - Short sales have consumed our market over the past year and a half. They are starting to slow, and more buyers are waiting to purchase lender owned homes. It seems to be a much easier process, and buyers are getting tired of waiting over 6 months with no response to their purchase offer.

JUL

Hi Debe, Oh my!!! I guess I have been so busy that I missed this great write up!!! Thank you so much for sharing your experience with out class. Wendy and I had a great time. We are excited about the next one coming up on the July 11th.

This is my favorite post on AR...... EVER!!!

OK....I think I have to reblog this one.

I feel so bad I missed this post. I have been extremely busy. TLW just got on me for deleting my Google Alerts without reading them.

Debe - Thank you- we are so glad you soaked up all our info, we'll be sure to talk even faster next session on July 11 - to give you even more stuff! Do I have permission to post the link in your comments?

Awe...

This is sweet. I'm so pleased you enjoyed the webinar. Seeing something like this being posted makes all the hard work worth it. Not that I had to do any of the work. Listening to Wendy and BB brainstorm is just exhausting :)

TLW...ROAR!

Connie: It most certainly WAS! Hey, I don't think it's too late! Give Wendy or Bryant a call or shoot them an email and see if you can get the back-assignments! LOL

Troy: Perhaps you need this class too--they're going to tell us how to handle these so that it doesn't take 9 months!

BB: You mean it?! Wow, now, THAT's an HONOR! To think that just a year ago, I was reading your information on short sales and vying that we would NEVER experience those here in Charlotte--now we're floundering with them and you're really helping me with your wealth of knowledge--more than you'll ever know!

Re-Blog Away!

Wendy: Well, it was definitely deserved--you guys did a fabulous job and I can't thank you enough! I know I soaked up alot of terminology and I really needed that! Thanks again...

TLW: Hey crazy woman--got those LEGS up?! Perhaps Bryant could rig you some sort of suspension table for your laptop so you could use it lying on your head?

Seriously, I thoroughly enjoyed the webinar and just want you to know that you guys are ALL appreciated.

Debe in Charlotte

Debe - Here is the sign up link- if any courses are missed, we will send students an mp3! The next sessoin is July 11, 11:00 Eastern, thank you for allowing me and Bryant to post the link

Sign up for "SHORT SALE BASICS FOR REALTORS" Webinar

Thanks Wendy! I'm sure that many more people could benefit from this great service that you and Bryant are providing.

Debe in Charlotte

JUL

Debe - I am not surprised that BB and Wendy's webinar on short sales is a hit. As you know we have a ton of them here in california, and mnay more expected. I have not listed them but have worked on the buyer side a number of times...not very successfully I might add. REOs have been easier to deal with and much more likely to close. Gonna try to get in on this if I can find the time.

Jeff

JUL

Hi Jeff: You were probably working with agents on the list side that had no idea what they were doing!! LOL I think you would benefit greatly from this series and hopefully YOU, can start listing short sales and having successful sales with them! They will send you the MP3 of each session so you don't HAVE to be present to win!

Have a great Independence Day!

Debe in Charlotte

JUL

Debe - I should take the course, but not having any short sales to deal with at the moment, it's on the back burner. However, just like in your situation, I'm sure it will come to the forefront in my area as well at a certain point, probably when more ARMs reset in 2010. I worry about the liability aspect of short sales, but of course, knowledge is the solution.

AUG

Hi Gail! The short sale class was THE best I've taken! I only wish I had taken theirs BEFORE the others! Short sales in Charlotte NC are rising but, not nearly to the levels that Wendy & BB have experienced over the past two years. I just want to be the short sale expert in the Charlotte area to better assist these clients as I don't want to see anyone foreclosed upon. Have a great week...

Debe in Charlotte

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