palm springs short sale specialist: What is swirling around in the head of a Short Sale Seller?
- 11/11/11 02:54 PM
If we Short Sale Listing Agents could see inside the brains of our clients, I think we'd see something like a swirling mass of either quesitons marks, or just TV static..you know that snow. Complete white out! And who could blame them? Short Sale Sellers would be advised to take a deep breath, step back, and really asses your situation. Stick to these basic steps... 1. Lay it out..truthfully. How delinquent if at all, are you? 2. Are there ANY liens besides your mortgage notes, against the property? ANY at all? 3. Call your Tax advisor..don't say you will … (5 comments)
palm springs short sale specialist: HAFA short sale APPROVED to close..South Palm Desert, California
- 11/04/11 03:51 PM
HAFA short sale approved to close in South Palm Desert, CA. This one is on it's way to close after approximately 60 days on the market. Conventional loan so we have until mid December to close. Primary Residence for the Seller who will need that HAFA relocation feeof $3,000 to start over in a rental. Bank of America: One Note with an approx. value of $193,000 Accepted Sale Price of $58,500 which is fair market value for these lovely Condos in Indian Creek Villas, South Palm Desert. Hard to believe what you can buy for $60,000! This condo … (2 comments)
palm springs short sale specialist: Short Sale List Agents; Don't let the Buyer's Agent fool you!
- 11/01/11 02:22 AM
Short Sale List Agents; Don't let the Buyer's Agent fool you! Just CLOSED another Short Sale in La Quinta yesterday. This Short Sale was pretty easy and stress free for everyone involved with one exception as there are ALWAYS exceptions! The first Buyer walked just as I had received approval from the Negotiator. I should have listened to my gut on this when I talked to the Buyer's Agent. My interview didn't go well, but I let him talk me into putting his Buyer in first position. How? The Agent and I have done local business. He seemed to hear me … (2 comments)
palm springs short sale specialist: Another Short Sale CLOSED; Indio, California
- 10/30/11 02:04 AM
Another Short Sale Closed; Indio, California This Short Sale was a mad dash to acceptance and then Close. Listed at the end of August, just 2 weeks before the Sale Date, after the Sellers were denied a Loan Modification. Talk about some quick footwork! Got the Sale Date delayed, priced it right, found a Buyer that loved it, and we are officially recorded. Entire process took under 90 days..it IS possible! Interestingly enough, Chase has been one of my most difficult Lenders. They tend to come in high on their BPO's, and that skews the Negotiators' opinion of Value. This time, … (4 comments)
palm springs short sale specialist: Palm Springs Valley; more than just sunshine and golf!
- 10/28/11 03:21 AM
Palm Springs Valley, Calif.; more than just sunshine and golf! But, hey, isn't that enough??? For MANY visitors, seasonal residents and even those of us that live here year round, it sure sounds like enough..but there is so much more. The Palm Springs Valley covers a lot of ground, so when you land in your city of choice, be it Palm Springs proper, Rancho Mirage, Indian Wells, Palm Desert, La Quinta or further Easterly, you owe it to yourself to take a drive. The Eastern Palm Springs Valley, (also referred to as The Coachella Valley) is a different world than the … (3 comments)
palm springs short sale specialist: Is there REALLY a Short Sale Expert????
- 10/25/11 12:28 PM
Is there REALLY a Short Sale Expert??? The word "expert" connotes perfection in my mind. I find it hard to believe that ANY Realtor is a Short Sale expert. Short Sale and Expert are two words that just do not go together. Here are some expressions that I think would sum up good Short Sale Agents so much better...
Experienced Short Sale Agent Short Sale Agent with years of experience Short Sale Agent; References Available Not an Expert Short Sale Agent...just experienced Kind of tongue in cheek, but it just doesn't make sense to me that in a world as … (4 comments)
palm springs short sale specialist: What costs a Premium in the Palm Springs, Calif. area?
- 10/22/11 02:54 PM
What costa a Premium in the Palm Springs Valley in California? I read a blog here on AR from an Agent in Hawaii. She was talking about how important View is for people buying there and it got me thinking..what "things" do Buyers really react to in my area? I live in a resort area. The Palm Springs Valley, which encompasses alot of area and many different cities is known for it's sublime weather first, Golf Courses second, and extreme views is right at the top. We are a desert, but you sure wouldn't know it looking around. Palm Trees sway, … (0 comments)
palm springs short sale specialist: Can I Short Sale my house with the IRS problems I have?
- 09/25/11 03:21 AM
Can I short sale my house with the IRS problems I have? Depends on the problem! If you have not paid taxes in your past and you have an IRS lien attached to your property, it IS a bit of a problem. But, yes, you can still Short Sale your property. Be sure to do the following UP FRONT..that means at the time you approach your Listing Agent to begin the Short Sale Listing...
1. DISCLOSE your tax lien situation. Provide any documentation regarding it to your Short Sale List Agent. 2. Contact the IRS and Disclose what you … (2 comments)
palm springs short sale specialist: The Short Sale Battlefield; Choose Your Weapon Banksters..I'm taking you down!
- 09/24/11 03:58 AM
The Short Sale Battlefield; Choose your Weapon Banksters-I'm taking you down! The way I see it, the Banksters have only ONE weapon..time. I on the other hand have a myriad of weapons at my disposal. Time, real estate experience, Short Sale Experience, a HUGE file of "go to numbers" and the tenacity of a bulldog. Think you can take me down Sirs..have at it! Over the past almost five years of handling Short Sales from List to Close, I have learned several things that I KNOW help me to win the Short Sale battle. Here are a few.. NEVER asume anything. … (3 comments)
palm springs short sale specialist: Bermuda Dunes, Calif. Market Report for July and August
- 09/22/11 03:05 AM
Bermuda Dunes, Callif. Market Report for July and August. Bermuda Dunes is an unincorporated City in the Palm Springs Valley. Most visitors to the Palm have either never heard of it, or are vaguely conscious of this small area. It is on the Northern end of La Quinta and sort of sprawls northwesterly. Bermuda Dunes even has it's own Airport for private planes and small jets. Lots of Horse property, rural areas and open desert land.. Total Single Family Residences CLOSED: 22 Lowest Price: $130,000 REO 3bd/2ba built in 1985 Highest Price: $650,000 REO on 2.5 acres 5 bd/5ba built in … (2 comments)
palm springs short sale specialist: Palm Springs, Calif. Market Report for July and August
- 09/20/11 03:16 AM
Palm Springs Valley encompasses several cities. When a seasonal visitor says they're going to "Palm Springs", they may actually mean La Quinta, Palm Desert, Rancho Mirage, Indian Wells, Cathedral City...or Palm Springs! This report covers all the homes/condos CLOSED in North, South and Central Palm Springs, CA. just for the two months of July and August. We are a Resort area for the most part, so July, August and September are our slowest Sales Months. The Hottest in temperatures; the Lowest in Sales Numbers...and still cookin along.
Total Number of Single Family Residences CLOSED: 131 Lowest Price: $25,500 … (0 comments)
palm springs short sale specialist: Is your sign just a lawn ornament for your Sellers?
- 09/18/11 03:35 AM
When I first started in resales (about 6 years ago), the Listing Appointment sent a chill through my body. Both because I was nervous, but also because I was excited and like waiting for the Umpire to throw in the first ball, I was waiting for that Seller to "get started!" Six years later, I can confidently say to a Seller, "You have a beautiful home, but I am NOT the Agent that can get it sold this season for you." Why, Why, Why would I walk away from a Listing? Because I am not at that home, with that … (4 comments)
palm springs short sale specialist: What the heck's going on with my Short Sale???
- 09/10/11 02:56 AM
If you are a Short Sale Seller, and you have to ask this question of your Listing Agent, then in my opinion, your Listing Agent is NOT doing their job. A Short Sale List Agent has to wear many hats and one of them is keeping their Seller in the loop, updated and informed as to the status or non-status of any movement with regards to their Short Sale. The Buyer's Agent should not have to call the Listing Agent to find this out either, but I do get calls and e-mails from Buyer's Agents even when I've given them their … (0 comments)
palm springs short sale specialist: Should I show my Client that Short Sale or not???
- 09/07/11 02:15 AM
This is a tough one..I ALWAYS pull up the Short Sales, along with the REO's and Equity Sales when I am doing a Search for a client. Whether to show the Short Sales for me, is totally dependent upon the Buyer's needs, wants, time line and qualifications. What?? You mean you steer them away from Short Sales? I don't consider it steering...I call it educating.
NOT all Buyers will be suitable for a Short Sale. Not all Short Sale List Agents can handle Short Sales Not all Short Sales will close at all, and my … (2 comments)
palm springs short sale specialist: Short Sale Ethics..maybe we just misunderstood each other????
- 09/05/11 09:58 AM
This is a strange story, but true and I am still trying to figure out if I could have handled it any differently. I got a last minute, paniced Seller, who needed to list their home as a Short Sale and the Sale Date was less than 10 days away..oh, and there's a nasty Tenant in the home that won't allow Agents to view it. Could I list it? Good Sellers who got me all my documentation because they had just been on the Loan Mod roller coaster. I listed it, "Write offers contingent upon Interior Inspection" in the MLS, priced … (0 comments)
palm springs short sale specialist: Palm Springs California Market Stats
- 08/28/11 10:23 AM
July here in the Coachella Valley, which is the entire Palm Springs area all the way East through the Salton Sea is hot, dry and exactly what you would expect in the summer in the desert! It was actually a little cooler this July, but August so far has been humid AND hot. August usually is, and I figure we've gotten off easy this summer...just look at the Earthquake in Washington and now Hurricane Irene on the East Coast! Anyway, we did have quite a few sales in July..good news! Single Family Residences: 613 total units sold at an average … (0 comments)
palm springs short sale specialist: Short Sales and their affect in the Palm Springs Valley, Calif.
- 08/27/11 03:09 AM
Short Sales can sure complicate things. The local Market, Buyers, Sellers, and certainly Sales Statistics. The things about a Short Sale is that they affect each development in each City or area differently. Then throw in the price point and they REALLY get complicated! In my local area, Palm Springs Valley of California, a Short Sale in a particular Gated community can be pretty predictable as to the Fair Market Value, or price/sf that it will sell for. That's usually because there have been plenty of Short Sales and REO's preceeding the Sale and the Buyers have pretty much set … (0 comments)
palm springs short sale specialist: Starting young Horses and Starting a Short Sale are really VERY similar.
- 08/22/11 07:54 AM
Sounds Nutty, but it's true. I bought, trained and sold polo ponies for over 20 years and still do in a very small way. When I got into Real Estate full time 11 years ago, I didn't have time to continue with the ponies. I have specialized in SHort Sales for over 4 years now and have found that the tricks and traits I used to find, train and sell my young ponies are very similiar to the tricks and traits I employ when listing, working and closing my Short Sales. Here's how... When I found a "green" prospect that I … (0 comments)
palm springs short sale specialist: Your Short Sale List Agent cannot GUARANTEE a close; if they do, RUN!
- 08/20/11 06:12 AM
I have listed, worked and closed many short sales over the past years. Investment Condos, retirement properties that the Sellers lost their dreams on, primary residences where the borrowers were forced out due to job loss, health bills, death, horrible things. Some properties that borrowers pulled a pile of money out of, upgraded their home, then lost it. There are ALL types of Short Sale Sellers. There is one true Mantra of the Short Sale List Agent; there is NO guarantee that I can get this CLOSED. I have only lost 2 short sales in almost 5 years of … (3 comments)
palm springs short sale specialist: Are Short Sales STILL the best buys???
- 08/16/11 09:17 AM
Are Short Sales STILL the best buys??? The short answer...yes! At least here in Palm Springs, California area. The reason is that as a Short Sale List Agent, I do price my Shorts approximately 10% below Fair Market Value. Now, that's much closer to Fair Market than they were several years ago. I think because the Short Sales have set the bottoms and there are multiple buyers so they aren't dropping any more. I'm finding that my Short Sales are still generating multiples, but it's more because of the condition of the homes than the price/sf. Foreclosed properties are so often … (4 comments)
If we Short Sale Listing Agents could see inside the brains of our clients, I think we'd see something like a swirling mass of either quesitons marks, or just TV static..you know that snow. Complete white out! And who could blame them? 
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