Dennis Toomey's (dennis2me) Blog

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Real Estate Agent - RE/MAX Action

ARCHIVED BLOG POSTS

2011 

IL – Have you heard the following myths about short sales? Myth #1: You can buy short sales for dirt cheap and then turn around and resell them for a profit. Myth #2: Foreclosures, Short Sales, and Bank Owned Homes can be bought for 30 to 50 cents on the dollar with no money down. Discover how o...
01/31/2011
IL – Many home buyers think that the short sale lender is in charge during a short sale. Nothing could be further from the truth. The short sale lender can only veto short sale offers. They can’t put the property up for sale or decide who to sell it to. Only the home owner can do that. Why is tha...
01/28/2011
IL – A home owner thinking of a short sale recently asked us why they should short sale versus just walking away and letting their lender foreclose on the home. We gave them the normal answer: “It’s much better for your credit.” That was the first thing that popped into our head. But, I knew the...
01/28/2011
    Schaumburg Real Estate Dennis Toomey continuously monitors local real estate statistics to keep his clients informed and ahead of the real estate trends.  Below, at the end of the page you will find Schaumburg real estate statistics for the last 12 months as of February 19, 2010. To find the ...
01/26/2011
This One Has Your Name On It! 16w579 2nd Avenue, Bensenville, IL 60106 View Map Come home to this entertainer's dream! Enjoy a beautifully remodeled kitchen with sparkling granite counters, maple cabinets, and stainless steel appliances. Parquet floors throughout. Dual sinks in the master bathro...
01/26/2011
IL – The Star Tribune, a newspaper in Minneapolis, recently ran a story about loan modifications. Here is an excerpt from the article: “Many people who sought help under a federal program created to keep them from losing their homes are instead getting saddled with huge, unexpected bills. Thousa...
01/26/2011
IL – If you are selling your home, then ask the buyer to write a letter about why they want to purchase the home. If you are a buyer, then write that letter. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. The listing agent will submit that letter ...
01/24/2011
IL – We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?” one seller asked us. “When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when ...
01/24/2011
IL – According to data from the National Bankruptcy Research Center, US bankruptcies have reached a 5 year high. The last record was set in 2005. That record was set because bankruptcy laws were being tightened up and people wanted to file before the laws changed. (The big banks had convinced co...
01/21/2011
IL – We often get asked that question. Some people think that since they are walking away from a large upside down mortgage, then the bank won’t approve it. That usually isn’t true. I wanted to put together a few examples of people the Stop Foreclosure Institute has helped with a short sale. Disc...
01/20/2011
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