short sales: A Failure Called Achievement - 01/26/13 01:48 PM
I ran into this featured blog post by Tracy Lee Parker Be PROUD to short sale your home!  and I can't disagree more.
I also can't agree to some comments, where all the blame goes to lenders, as if we were signing Notes and Mortgages under the big influence of heck knows what. I do not like the reference to Lenders because it makes us idiots. The bank was not creating the fake value, it only provided money... or easy money.
But for the same token Las Vegas casino carries a promise of a big win. Or Powerball... So, if i … (71 comments)

short sales: Can I Settle With Underwear? - 08/09/12 03:29 PM
- I have given them my home back. The lady on the phone is screaming. She said she gave the house back to lender in foreclosure, and now they are going after her for deficiency. This is the same lady that told me to get lost when I suggested we could do the short sale. She spoke to her accountant, and then decided going with foreclosure. She stayed in the house for a bit over 2 years, and got used to it, but finally Flagler County started processing foreclosures. Now she got a letter demanding money. And she is pissed off. … (65 comments)

short sales: Our Longest Mile... - 07/08/12 05:18 AM
We took the listing for this Short Sale October 22, 2009. We closed July 6, 2012. It was a non-stop fight for 2 years, 8 months and 15 days. So, as of July 6, 2012 this 2 bedroom/2 baths condo unit in MG on the Halifax (former Marina Grande on the Halifax) is sold to the investor. Our previous record was a gorgeous 3 bdr/3 baths condo in Cinnamon Beach, Palm Coast. (see The War & Peace of Short Sale and Terri, I Miss You, Too). I do not want any more records. What started as a simple short sale with … (48 comments)

short sales: Ready, Aim, Fire! - 07/14/11 07:56 PM
Elizabeth Weintraub posted Many Short Sale Banks Are Issuing Counter Offers on Sacramento Short Sales It is another excellent post about pricing short sales. And it resonated with me, because we have these conversations pretty often.
It happens when the agent shoots us a lowball offer. Sometimes I want to counter the way Broker Bryant and TLW countered. They would hang the offer on a tree, and then TLW would take aim and shoot it with a rifle. Makes it a strong counter, I assume... 

We deal with short sales on both sides. We try to do what the Lender … (20 comments)

short sales: Restless Feet Short Sale Syndrome - 07/09/11 05:12 AM
Elizabeth Weintrub wrote Why Do Short Sale Buyers Bail at the 11th Hour? It is about the phenomenon that we all know so well. It is when after waiting and waiting and waiting for a short sale train to come, the Buyers walk away when the train is pulling to the station.
It is happening so often that we try to ready ourselves that we are not going to sell to the first buyer, so that when I call the other agent to tell her that we finally got the call from the bank and the approval is on the way, … (33 comments)

short sales: Reverse Logic or The Art Of Shifting The Blame - 05/25/11 05:26 PM
Bryan Robertson posted Why are banks not held accountable for delaying short sales? It is featured, tons of «I agree» comments, everything in classic AR style. Of course how the idea so darn wrong could be featured is beyond me, but I digress...
OK, we are tired that it takes banks more time that we would like to in order to forgive often hundreds of thousands of dollars. And we want to hold the banks accountable. Just listen to what we are saying... Don't you hear what I hear? (it is buzzing in my ears that this is BS)
So, let's imagine … (63 comments)

short sales: Pride And The Hole From The Bagel - 03/03/11 04:24 PM
Doing short sales of condo units has its own nuances. Our short sale was not supposed to be a out of the ordinary. But it came with a twist…
We work with a buyer, so the ball is not in our court. Checking properties going for foreclosure auction, we notice that this unit is going into foreclosure. And it is not the Lender; it is the association that forecloses on the unit. Not being paid in years, they just got frustrated and decided to take action.
We are calling the listing agent. Of course the agent has no clue about foreclosure. We … (12 comments)

short sales: Is it a short sale? Would the seller consider owner financing? - 10/02/10 02:07 PM
The call was from a local agent, who said that she was specializing in short sales. I got a bit confused… I am not really an expert in Short Sales, like some others, and maybe I am missing something? Or maybe she did not understand what I said, and what was stated in MLS?
- This is a short sale…
- Yeah, I understand, so will the Seller consider some form of owner financing?
Now I do not even know what to say. Until the call, I thought that it was obvious that in short sale the Seller was in … (30 comments)

short sales: The Man Who Really Knows Short Sales... - 08/24/10 07:16 PM
The Orlando RainCamp is over, and after an hour drive I am back at my computer. The hermit returns to the shell.
There are a lot of mixed feelings about the whole experience, but I need some time to settle and figure it for myself.
I will sure write about it. This quick blog is just one observation from RainCamp.
There were several people who I know “AR well”, and it was interesting to meet the people “from the computer”. One of those was Richard Zaretsky, a prominent Real Estate attorney from West Palm Beach. He is a member on AR … (38 comments)

short sales: Who Am I to Dictate to the Buyers? - 08/23/10 03:34 PM
I just read a blog posted by LaNita Cates Do you let your buyer write two offers?
It is not a unique situation when the Buyers walk away from the short sale. They were walking away before, they are walking away now, they will be walking away tomorrow. In this case the Buyer made an offer for two properties, and bought another one. It is not the "walking" Buyer that surprises me. It is the notion that we control them.
“Do you let your buyer write two offers?” I would not even put it this way ..." They are the bosses, not … (11 comments)

short sales: Short Sale Fiasco...Why? - 07/25/10 04:59 PM
For the last 6-7 months we are watching the foreclosures. It is a bit tricky, because you have to go through several sources to figure out the real picture. The properties scheduled for Foreclosure Auction, but taken off the auction still stay on one the sites we use, so it is a balancing act to really know what happens.
More and more I see situations that the houses or condos that end at a foreclosure auction are active listings. Short sale listings. When I look at the listing on MLS, I often see that the price has not been reduced in … (27 comments)

short sales: Short Sales. Should The Buyer Bring EMD? - 06/15/10 06:39 PM
Diana Lisinski posted Why should a buyer have to give his/her EMD upfront for a short sale? For some reason she made her blog Members Only, so if you are not a Member, you would not be able to use the link.
“Who in their right mind would agree to that?” she asked.
If they are in their right mind, who wouldn't?
I am working with attorneys, and if I bring the contract with “no strings attached”, they would tell me that this is not good.
They would not recommend the client to accept a contract with no deposit going at … (84 comments)

short sales: Which Shoes To Wear? - 06/15/10 02:11 PM
Shoes are never out of fashion.
I posted How Footwear Affects Vision. As you can see, it was about shoes (I am becoming an expert in shoes). There were a lot of comments, and they made me think that if I were writing it now, I would have done it differently. I would have added that in short sales there are 3 pairs of shoes, not just Buyer's and Seller's. There is also one critically important pair…the Agent's. The pair worn by a professional…
Yes, we need the ability to step in both Buyer's and Seller's shoes…see the transaction with their … (4 comments)

short sales: Short Sale Gurus. Where Are You? - 06/05/10 04:40 PM
It is not the first time I notice it on AR, when you ask direct questions and the comment thread is anything but answers. I remember once Richard Zaretsky was asking whether anyone on AR had the specific experience with a particular Lender and he added that he was not asking for the opinions, but only for the direct answer. I do not mind opinions, but if I can get someone to answer, I would be thrilled.
AR does better with rants and opinions, and maybe it its strength. I guess for straight and exact answers we better go to experts. … (11 comments)

short sales: Affidavit of Arms Length Transaction – What Is It? - 06/04/10 10:31 AM
I am getting close to closing on a short sale where I have never seen the buyer, and I have never seen the Seller. The lender sent us the Affidavit of Arm’s Length transaction. I signed for me and sent to both the Seller and the Buyer.
The buyer called me next morning. What the heck was that? I told him about relationship between the Buyer and Seller, and me as the agent. He was OK with that. He did  not have a slightest idea who the Seller was anyway.
But he is an investor. He would sell it when he … (22 comments)

short sales: For Another $100,000 I Will Clean It Myself... - 04/26/10 10:28 AM
A walk through a few days ago before closing. The Sellers are in terrible distress. They are losing money, they are losing hope. Husband is working practically around the clock, his wife is also working. Moving is a disaster, the sofa is so long, that they could not fit it in their rental small condo, and they are running with it trying to figure what to do. We are trying to help, as she is near a nervous breakdown. We gave them the keys from our storage, help with furniture and other stuff... But it is tense... They finished cleaning in the … (74 comments)

short sales: More Saint Than Jesus - 03/18/10 07:02 PM
I read the post by Jonathan Osman Are You Involved in Short Sale Fraud? Here are the Warning Signs!
It was featured, there are a lot of comments (181 at time of this writing). Jonathan is presenting a short sale flip scenario.
In life there is always more than one scenario. And very often in our blogs we give one, and the comments bring others, and that's the beauty of the discussion, that we learn something. This blog and the comments, however, made me very upset.
Jonathan labeled it as fraud and managed not to notice other points of view, and … (25 comments)

short sales: Short Sale Short Story. Shorter Than The Short Sale - 02/13/10 10:16 AM
This is a short sale. A direct oceanfront unit in Oceanside Inn, a very nice (by Daytona standards) condo-hotel resort in Daytona Beach Shores.
The sellers are retired. They bought the unit for cash. Then they decided to get money out of it, and this way weather the real estate downturn, and we helped them with that.
Then, there are mounting problems, financial, medical... need to let it go. I hate it as prices are so low, and I know that should they be able to hold for a little longer, they would be able to sell it for so much more, … (8 comments)

short sales: Short Sale. A Few Questions And Answers - 05/30/09 02:37 PM
Peter and Lucy called me after seeing prices for 2 bdr/2 bath condos in direct oceanfront buildings in the Oceans Complex starting from $140,000.
Q. Can this true?
A. Yes and No.
Yes, there are listings starting from $140,000. We showed Peter and Lucy several units, and they signed an offer of $135,700 for a unit with $150,000 asking price. Is it a low price? Yes, but a just recently a similar unit was sold for $131,000.
The Listing office acted very fast. And then comes the shock for Peter and Lucy. The Lender countered at $175,000. They go on my IDX and … (14 comments)

short sales: I Had Two Closings Scheduled for Today... But Did Not Close - 05/15/09 06:13 PM
I had two closing sgheduled for Friday. Both did not happen, and I am not even angry. No reasonable person can be angry with the same stuff again and again and again. I am not even really surprised.
You learn to take things in stride. What was supposed to be normal before, and what you would not priase, is now a pleasant surprised. Scheduled for Friday and closed Friday? Wow. What happened?
My too small closings are REOs. 2 studio units in The Plaza Resort & Spa, daytona Beach premier condo-hotel. And I am far from the magical REO world. My interest is with … (18 comments)

 
Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) Ambassador large

Jon Zolsky, Daytona Beach, FL

Buy Daytona condos for heavenly good prices

Daytona Beach, FL

More about me…

Daytona Condo Realty, 386-405-4408

Address: 119 S Palmetto Ave., Suite 231, Daytona Beach, FL, 32114

Office: (386) 255-5355

Mobile: (386) 405-4408

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog