westchester short sales: Westchester and Putnam Pre Foreclosures for Sale
- 12/04/10 11:55 AM
J. Philip real estate excels in providing a strong inventory of pre foreclosures and short sales in Westchester, Putnam and Rockland counties that are great for people looking for a handyman or fixer upper at a good price. We have a short sale opportunity for a handyman or developer in northern Westchester County. This is a colonial era 2400 square foot 4 bedroom, 3 bath farmhouse on 2.6 acres for $449,000. Includes a large barn on a flat wooded lot. Restore or build new. 178 Smith Ridge Rd South Salem, NY 10590.
In Mahopac, Putnam County, we have a fixer upper short sale … (2 comments)
westchester short sales: The Wall Street Journal Agrees with Me on Short Sales
- 03/16/10 12:59 AM
Amy Hoak’s timely article on HAFA and short sales in yesterday’s Journal concludes with timely advice that I wrote myself the very same day. The article focuses on the many pitfalls of short sales, as well as the new HAFA (Home Affordable Foreclosure Alternatives) regulations which are set to go into effect on April 5, 2010. Here is what I wrote yesterday: Yet people still do not ask their prospective agents how many short sales they have closed. You simply cannot be a specialist with no experience; I’m sorry. I don’t care if you have a PhD or a photo shaking the Pope’s hand. What … (6 comments)
Program starts April 5, 2010 Lenders will be "compelled" to accept short sales. We'll see about that. The administration wants to streamline the process. We'll see about that too. Financial incentives are $1,500 to the home seller, $1,000 to the lender, and $1,000 to a subordinate lender. Agents will be used to valuate the properties, but lenders will not be forced to accept offers beneath the agent valuation. That … (8 comments)
westchester short sales: Debunking Short Sale Misinformation
- 11/18/09 11:04 AM
A home buyer found me on google and wanted to pick my brain about a short sale she was purchasing. She already had an accepted offer with her sister representing her as her buyer agent and wanted the opinion of a 3rd party with knowledge of the subject, and she found my blog. Evidently, the listing agent told her that since her relative was representing her in the purchase of the short sale, that she was not entitled to the commission. This is 24 karat nonsense. The agent did the right thing in disclosing the relationship. She has no ownership interest in the … (2 comments)
westchester short sales: Are Short Sales Sold "As Is?"
- 10/04/09 04:54 AM
As happy as I'll be when the day comes that I don't have to do anymore short sales, the fact is that I am in the midst of several. And even though the public by and large understands what short sales are about now more than they did 2 years ago, questions remain, such as how to address physical issues with the property.
Issue: FHA appraisal. The appraisal flagged the rotting wood on the rear deck. The seller has no equity or proceeds to address the matter. If the buyer wants to close on their FHA loan, they'll have to fix this … (11 comments)
westchester short sales: Taxpayer Funded Stupidity in Westchester County
- 06/30/09 12:12 AM
Most of my postings on short sales have a happy ending. This is not one of those postings. In late 2008 my office brought in an offer on a distressed, vacant property I had listed as a short sale in Mount Vernon. We did yeoman's work. I listed it and one of my agents brought a string buyer. The client, a victim of predatory lending, was desperately trying to avoid a foreclosure. The home was listed at $219,000 after several price reductions. We were listening to the market. We had hardship. We had a buyer. The short sale package was sent … (1 comments)
Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 80 agents & closed 1000+ transactions valued at over $500 million. He was 2014 President of the HGMLS and a 2017 Inman Influencer. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900. Warning: *Sarcasm and irony advisory at all times.*
Testimonials
113201
There is no doubt in my mind that the house would still be on the market if it wasn't for Phil's proactive efforts.
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by drmoi
109285
Phil was very responsive to our requests; he was very professional and respectful; he always gave us his honest opinion on the questions we asked. ... more
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by junglegirlnyc
106920
Phil is a very honorable and respectful realtor. He has gone way above and beyond the call of duty for me not only once, but twice. He helped sell ... more
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