real estate: 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 … (1 comments)
real estate: If you survived 2008, you will thrive in 2009!!!
- 01/04/09 05:32 AM
Friends, Realtors and Sellers lend me your ear. The time for excuses are over. 2008 is in the history books. It brought job losses, a financial freeze, billion dollar bail outs, slumping economy as well as Wall Street and Main Street deflation. But that "was then and this is now". As I woke up this cold January morning, the sun still rose from the east. The birds, (those tough enough to brave the Michigan winter) we chirping and I realized, the world was not coming to its end. It is time for us to forge our new path; the road ahead … (12 comments)
real estate: "Excuses are the barriers we create to justify our failures." , Mike Sher
- 12/06/08 05:52 AM
Do not give up Buyers, Sellers, Realtors and all others a like. Times are tough but do not allow the negativity of the other steal your drive. Anything is possible if you believe in yourself. I work in the Detroit Metropolitan area. The economy is 2nd to none when it comes to layoffs, bad news and bad weather. Yet I still sell homes, why? Because I know I can. Because while others cry, complain and create a barrier to success, I smile, believe and make it happen. If a buyer walks away, find another buyer. If a bank will not accept … (1 comments)
real estate: List a positive thing that has happened this week to keep our spirits high.
- 09/13/08 05:04 AM
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 2 banks to accept a short sale. I listed 2 homes that will be short sales, the seller were ready to walk away from their home but decided to take Responsibility and sell it then to run from the problem!! I saved my buyer from a predator … (10 comments)
real estate: Closers make quick cash, Finishers make fortunes, which are you?
- 09/12/08 12:37 AM
In the past 10 years of selling real estate I have read, watched and learn all about "The Close". From word games to analogies I have heard them all. We as Realtors are taught to close the buyer, close the listing, close the contract, get to the closing table and get to the bank with our commission before it closes for the day. How sad, once you look up the word close in Webster's dictionary; 1close closed; clos·ing a: to move so as to bar passage through something <close the gate> b: to block against entry or passage <close a street> How awful, … (4 comments)
real estate: "Short Sales" The Realtor Cure for the Common Foreclosure!!
- 09/06/08 03:12 AM
"Short Sales" The Realtor Cure for the Common Foreclosure!! Now that the word "Foreclosure" is as common, as other less desirable words like "Cancer", "Teen Pregnancy" and "Child Neglect", it is time for us as a society to except it, take reasonability and fight it. Like all plagues; social and medical; at the beginning many ignore both the subject and those who are infected. But, in time the issue becomes so unavoidable that main stream society can not run, hide or avoid the problem. The foreclosure epidemic is NOW unavoidable. Everyone knows someone who is in, or will be in, foreclosure. … (11 comments)
real estate: Could the decline of Real Estate values be our salvation to a brighter future? Analysis of May 2007 and May 2008 Detroit Area housing market.
- 06/20/08 02:13 AM
Here is a market summary comparing May of '07 to May of '08. The bad news is that median sale price has dropped by an average of 14.3%. On the other hand the numbers of sold units increased by 31.7% (more homes are selling). In fact the areas that have had the largest drop in value are the areas that have had the greatest gain in sale units. Another positive sign is the depletion of available homes for sale, also known as inventory. You will notice that many areas shrunk their inventory. Fewer homes for sale produce scarcity which balances the market. Simple supply and … (4 comments)
real estate: Should seller's counter a low offer in a Short Sale or just accept it and let the bank decide
- 06/19/08 02:11 AM
Dear fellow agents. I have done 6 shortsales and so far my seller's have not countered any of offers. They just accept them contingent on bank approval. So far the bank has accepted 2, and counter 3 but by only 1-5% of the offer price. We were able to close all of them, And these have been low offers. All of the offers have been 70%-55% of what was owned to the bank. I just got a offer for a home that I have listed for $79K, the offer is $45K, my seller owes $150K. We have had no offers to date. We … (9 comments)
04/25/2008 08:43AM by Mike Sher - got the hud back signed by Option one and all is done and closed. I got less commission from the bank then what the listing agreement stated. The seller brought me a casher's check for the rest of my commission. I told her that I needed to get paid and my agreement was with her not the bank for my commission. So, she … (1 comments)
real estate: Practical Thoughts About Short Sales
- 06/12/08 03:04 AM
Dear Agents, I have completed my 5th short sale this year, and I still have to just feel my way through the trials and tribulations of the processes. One thing that truly confuses me is how we have all of these "Short Sale Experts" who tell us what banks will or will not to do, like they were Moses on the mount, explaining the 10 commandments. How could anyone know what a mega large bank will or will not do.
Here are my thoughts; A large bank has 1000's patients (loans) on a operating table that are hemorrhaging in 100,000 of different places. Each bank has 100’s of doctors (mitigation officers), … (0 comments)
I am teaching a short sale class on March 24th 2008 in Troy Michigan at the MCAR, Metropolitan Consolidated Association of Realtors. 
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