michigan: Mike Sher's Oakland, Wayne and Macomb Michigan 1st Quarter 2012 Real Estate Market Report, Max Broock (248) 496-1572 - 04/24/12 11:08 PM
Oakland, Wayne and Macomb 1st Quarter 2012 Real Estate Market Report
by: Mike Sher (248) 496-1572, Max Broock Realtors
 
The first quarter County Market Reports are further proof of what we are seeing every day: Sales are picking up and inventory is getting scarce. Seven of the eight markets tracked showed sales unit gains over last year. Declining home inventories are moving all areas closer to a Seller’s Market, with many of the lower priced areas already crossing the Seller’s Market barrier (under three months of inventory). The vast majority of areas are sitting in a neutral market. When we examine … (0 comments)

michigan: Short Sale Bloomfield MI Realtor Mike Sher's "The Art of Negotiating a Short Sale" - 03/15/12 11:40 PM
Short Sale Bloomfield Realtor Mike Sher's "The Art of Negotiating a Short Sale"
 
 

About Mike Sher - Mike Sher- CDPE Associate Broker (248) 496-1572, mike@mikerealtor.com · He has negotiated over100’s short payoffs for his clients.· He is a Short Sale expert panelist for the Real EstateInvestors of Oakland.· He is Real Estate One's and Max Broock's ShortSale consultant and Short Sale Instructor· He is a published Short Sale resource for the DetroitFree Press, Detroit News and the C & G NewsPapers.· He has a over 90% Short Sale success rate (nationalaverage is 44%)· He has instructed over 800 … (0 comments)

michigan: Birmingham MI Home Sellers listing Tip#1, "Check The Financing" Mike Sher, (248) 496-1572, Max Broock - 07/15/11 06:14 AM
Birmingham MI Home Sellers listing Tip#1, "Check The Financing"  Mike Sher, (248) 496-1572, Max Broock
With such a difficult Real Estate environment, seller's and Real Estate agents get so excited when they get an offer they forget the fundamental of financing.   The Agent also needs to but does NOT call the lender to verify the buyer's employment, reserves and credit.  Plus, the agent needs to verify the credibility of the lender itself and if there are concerns, the seller should request the buyer to get a preapproval from a local bank to assure financing is secure.   Also, the agent forgets to … (0 comments)

michigan: Michigan Short Sale Expert: Solving Your Mortgage Crisis Just Got Easier, Mike Sher, Max Broock (248)644-4700, Certified Distress Property Expert - 02/18/11 02:55 AM
Michigan Short Sale Expert: Solving Your Mortgage Crisis Just Got Easier,  Mike Sher, Max Broock (248)644-4700, Certified Distress Property Expert
5 Steps for a Successful Short Sale
Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process much easier than in the past.
If you are considering Short Sale your home to avoid the financial and emotional fallout of foreclosure, you should be aware of the five steps you should take to increase your chances of a successful transaction. 

First, do you qualify?
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michigan: Troy MI, Fast Track To Short Sale Success May 18th with Mike Sher, Orlans and Bank of America, - 04/24/10 05:43 AM
 
 
Get on the fast track to short sale success!

MCAR and Bank of America are proud to present Fast Track to Short Sale Success, a new program designed to help today’s agents guide clients through the short sale and foreclosure process. Put yourself on the Fast Track on May 18 (register); the event is free for MCAR members.Fast Track to Short Sale Success covers the “What,” “Where” and “Why” of the short sale process from three different perspectives. Learn the roles and responsibilities of the REALTOR®, the negotiator and the foreclosure attorney during the short sale process. Understanding … (2 comments)

michigan: Are you eligibility for HAFA or HAMP, Oakland County MI Short Sale - 04/06/10 09:14 AM
 
Government Programs …Check Your Eligibility Now. There are a number of government programs available to provide you with solutions. See which program below matches your situation best, and then take the survey to see if you are eligible.
 
http://www.shortsaleoaklandcounty.com/Eligibility.aspx
 Mike Sher
Max Broock Realtor, Bloomfield Hills
(248) 644-4700
ShortSaleOaklandCounty.com
 
 
 
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michigan: Royal Oak Short Sale Realtor Tip#30, keep your friends happy but keep your clients happier! Birmingham MI Max Broock Oakland County - 12/29/09 12:25 AM
Just closed on my 21st short sale of the year.  This was a Royal Oak townhome that we sold for 40% of what my client owed.  My client had been out of work for 9 months and could not find any new employment.  She was burning through her savings and was scared.  The borrower could not get a loan modification because she had no income and soon she was going to have to walk from her home.  This was not in her nature for she was a spiritual person who does not like to walk away from her problems.  Her mother found me … (2 comments)

michigan: Birmingham Short Sale Real Estate Tip #29, Know HAFA (Home Affordable Foreclosure Alternative), MI Oakland County. - 12/08/09 07:09 AM
Short sale rules change quickly and quietly.  What does that mean?  It means that the new directive from the Treasury Department did not make my morning newspaper or was splashed all over CNN.  It was sent by email from FNMA, buried in my junk mail.  Like always Important News never makes the NEWS.
So here is the News, which is GOOD NEWS!!  The Treasury Dept has announced that they have added a new program to HAMP (Home Affordability Modification Program).  HAMP is the program that was created so servicers were able to offer loan modifications for people who were facing foreclosures.  Well, it … (5 comments)

michigan: Short Sale Real Estate Agent Tip #28, Have a Website Dedicated to Short Sales, Birmingham, MI - 11/12/09 09:26 AM
One of the most important things about being a short sale Realtor having quality content about short sales that sellers can read on-line.  Often, Short Sale Sellers, do not want to call a Realtor first.  They want to learn as much as they can before deciding which agent to work with.  Make sure you have good on-line content and you clients will be happy to work with you.
Content like:
Short sale website, (mine is http://www.shortsaleoaklandcounty.com/) Write a blog about short sales, like Active Rain. Put information on your linked-in page. Your Face Book is a great place to link articles about short … (0 comments)

michigan: Short Sale Realtor Tip #23, Top 20 questions you should ask the Short Sale/Loss Mitigation Dept, Birmingham Michigan! Mike Sher - 08/28/09 04:55 AM
I have recently expanded my team to an additional processor to call on the banks. She asked me if I could include a list of pertinent questions to ask the Short Sale or Loss Mitigation Departments. So here they are in no specific order of importance.
1. Where do we fax the 3rd party Authorization? What is the best # to call back to ask if they got it?
2. Who is the investor?
3. What does the investor offer 2nd liens?
4. Is their a Mortgage Insurance (MI/PMI) company?
5. What is your short sale process?
6. Do you want … (1 comments)

michigan: Short Sale Realtor Tip #19, Read This Great Article From USA TODAY About Never Giving Up, Beverly Hills MIchigan! Mike Sher - 08/05/09 02:38 AM
 Here is a recent article about short sales in USA Today.  
http://www.facebook.com/ext/share.php?sid=108582182695&h=sVpXU&u=n4t8k&ref=nf
This article really talks about how hard it is to do a short sale and the importance of having professional working with you who know what they are doing.  Make sure that who ever is working on your short sale knows what to do, how to do and will not give up
Mike Sher
 Some facts from the article to be aware of:
11% of sales in June were short sales. (says NAR) In March of 2008 the average short sale acceptance time was 4.5 weeks and while the … (3 comments)

michigan: Short Sale Realtor tip #11, Just because it works in your State does not mean it works in mine, Troy, MI - 05/13/09 01:48 AM
Many short sale specialists out there are ready to sell you books, tapes, videos and coaching time no matter where you live as long as you have a major credit card.  Plus if you google "short sales tips, help or expert", you will find 100,000's of gurus (including Mike Realtor) dishing out short sale gospel like Moses on the Rock.
Well, here is a little tip; each state is different when it comes to short sales, foreclosures, deficiencies, sheriff sales, property taxes, deed laws, redemption periods and etc.  I live in Michigan where;
•·        Michigan has  redemption rights, but other states … (1 comments)

michigan: Short Sale Real Estate Agent Tip of the Day #4, Log Every Call!! Birmingham, MI - 04/03/09 01:42 AM
As you know by now, the bank logs every call, fax and email pertaining to a Short Sale.  Every time you call them they log your name, number, time, date and all of the details of the call.  If we want to compete, we have to do the same. 
When I or someone from my team calls the bank, I make sure we get all of the details of who we spoke to, the day, time, content of the call.  So when we speak to another person later in that week, we can reference the past call.  Sometimes, documents, a BPO … (6 comments)

michigan: Short Sale Class in Troy MI March 24th 9am-12pm - 03/19/09 12:38 PM
Thriving with Short SalesForeclosure agents presently control a high percentage of the homes-sold market share: short sales are a way for traditional REALTORS® to capture that business. Short sales allow you to have saleable-priced listings that will attract more showings, sign calls, Internet leads and help control inventory. Short sales will keep you busy, and a busy REALTOR® is upbeat, focused and confident.
Topics include prospecting for short sales; converting a phone call to an appointment; listing presentations; hardship, documents and how to protect your commission; introduce yourself to the bank; handling offers and working with the bank; keeping the buyer, … (0 comments)

michigan: Fannie Mae Will Not Allow Servicers to Cut Realtor Commissions if they are 6%!!! - 02/26/09 07:16 AM
Great News for us Short Sale Realtors fighting the good fight.  Fannie finally gets it!! We Realtors are saving them Billions of Dollars by performing pre-Foreclosure Sales, (Short Sales).  In the past, the servicers were bulling us around, threatening to cut are commission if the buyer asked for concessions or if the seller was not willing to contribute to closing cost or just to cut our commission because they could.  See below and then my commentary to follow!!
No Negotiation of Preforeclosure Sales Commission Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers Effective March 1, 2009, closing of preforeclosure sales … (8 comments)

michigan: We have to work together, so let try to be nice. - 02/16/09 09:40 AM
I just got a very curt email from a listing agent.  The email was combative, angry and packed with sarcasm.  The listing agent was working off of misinformation and instead of assuming the best out of me, she assumed the worst. 
This is just one of the many emails, phone calls and text messages from co-op agents that just were not nice.  I know that times are tough; our clients are petty, angry, mad, sad and never glad!!   This economy has brought out the worst in everyone.  We may be their agents but we do not have act like them.  And … (3 comments)

michigan: List a positive thing that has happened this week to keep our spirits high - 02/13/09 01:26 AM
List a few positive things that has happened this week to keep our spirits high. 
 We read, see and hear such negative stories during the week which chips at our morale and is just depressing. That is why I am dedicating a post just to allow all of us the opportunity to read a positive story or two. I will start!!
This week I was able to get a bank to accept a short sale. I listed 2 homes that will be short sales, the seller are willing to take Responsibility and sell it then to run from the problem!! I saved my buyer from a … (5 comments)

michigan: Short Sale Class in Troy MI March 24th 9am-12pm - 02/13/09 01:16 AM
Only nine more seats left for my Short Sale Class March 24th 9am-12pm (Troy). 
Thriving with Short SalesForeclosure agents presently control a high percentage of the homes-sold market share: short sales are a way for traditional REALTORS® to capture that business. Short sales allow you to have saleable-priced listings that will attract more showings, sign calls, Internet leads and help control inventory. Short sales will keep you busy, and a busy REALTOR® is upbeat, focused and confident.
Topics include prospecting for short sales; converting a phone call to an appointment; listing presentations; hardship, documents and how to protect your commission; introduce … (1 comments)

michigan: Royal Oak Is Named "extraordinary suburb" - 02/11/09 12:23 AM
 The secret is out, Royal Oak is a great place to live, visit and enjoy!!  If you know anyone who would like to move here, have them give me a call!!
 Mike
Royal Oak named "extraordinary suburb"The Congress for the New Urbanism recently honored Royal Oak as one of the 10 best communities at controlling urban sprawl, revitalizing and creating workable, eco-friendly Main Streets. The list:
Montgomery County, Maryland (Washington, D.C.) Tempe, Arizona (Phoenix) Suisun City, California (Bay Area) Shaker Heights, Ohio (Cleveland) Royal Oak, Michigan (Detroit) Hammond/Whiting/Gary, Indiana (Chicago) Burlingame/San Mateo, California (Bay Area) Delray Beach, Florida (Palm Beach) Markham, … (0 comments)

michigan: Thriving with Short Sales class on March 24th 2008 Troy, Michigan - 01/15/09 08:57 AM
I am teaching a short sale class on March 24th 2008 in Troy Michigan at the MCAR, Metropolitan Consolidated Association of Realtors. 
Flyer Link: http://tponline.realty-wire.com/Users/16AD44D5-41DB-4ECF-9534-71391BCBB6B1/{da254419-9467-4691-8bf6-8c2819c29d17}/{da254419-9467-4691-8bf6-8c2819c29d17}.pdf 
If you are a member of MCAR call or go to their website http://www.mcaronline.com.
Mike Sher
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