royal oak: Birmingham, Bloomfield, Royal Oak Realtor is back blogging!-Mike Sher - 02/05/16 01:59 AM
Feels like just yesterday when I started my 2009 Real Estate blog. Paragraphs full of optimism, realism and even some cynicism. I wrote about banks taking advantage of people, people taking advantage of banks and the system that rewarded the wicked and punished the pure. In 2012, the relevance of a short sale realtor was gone. Like buggy whips and the Rubik’s cubes, short sales were yesterday’s news.
It’s not that I stopped selling; the last few years were my best years ever. I just stopped writing. Being an optimist is not very distinctive when everyone is happy. As a big believer … (2 comments)

royal oak: Oakland, Macomb and Wayne Counties Michigan Homes Values Report, What's your Home Worth Report. Mike Sher, Max Broock Realtors - 04/26/12 10:47 PM
Home Values:What's Selling in my Neighborhood?  Compare Zip Codes:Community Data Report                  
Know The Market: Report of SALE & SOLD homes       Learn About Short Sales: www.ShortSaleOaklandCounty.com   Feel free to contact me:Mike Sher     The Mike Realtor Team Home Values:What's Selling in my Neighborhood?  Compare Zip Codes:Community Data Report                   Know The Market: Report of SALE & SOLD homes       Learn About Short Sales: www.ShortSaleOaklandCounty.com Associate Broker,  Max Broock/Real Estate One                                                                                                                     Office: (248) 644-4700x242   Fax :(248) 499-10204120 Telegraph Rd, Bloomfield Hills, MI 48302E-mail: mike@mikerealtor.com               Blog/Profile: www.MikeRealtorBlog.com Web: www.mikerealtor.com           Find me on Facebook - Become a fan   ***Please be advised that Mike … (0 comments)

royal oak: Short Sale Royal Oak MI Just Sold, Oakland County MI Mike Sher Max Broock Realtors - 05/04/10 02:54 AM
Royal Oak Short Sale Just Sold, Oakland County MI Mike Sher Max Broock Realtors 
Mike Realtor Team sells Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher
The Mike Realtor Team is proud to announce that our Royal Oak Home has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great … (0 comments)

royal oak: Royal Oak Short Sale Just Sold, Oakland County MI Mike Sher Max Broock Realtors - 04/29/10 08:50 AM
Royal Oak Short Sale Just Sold, Oakland County MI Mike Sher Max Broock Realtors
We Sell Homes in Bloomfield, Birmingham, Beverly Hills, Farmington, West Bloomfield. Rochester, Troy, Huntington Woods, Royal Oak & Auburn Hills. Call us at (248) 644-4700 X 242 or check us out at www.ShortSaleOaklandCounty.com or www.mikerealtor.com Mike Sher
The Mike Realtor Team is proud to announce that our Royal Oak Skyloft has recently SOLD. With our 90% Short Sale success rate, the Mike Sher Team is has saved another home from Foreclosure. If you are looking to sell your home or looking to buy a great home for … (0 comments)

royal oak: 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)

royal oak: Short Sale Realtor Successful Short Sale Profile #3, Royal Oak MI, Mike Sher, Max Broock - 10/29/09 12:45 AM
 This is a Royal Oak Short Sale that I listed and closed.  My seller needed to sell.  He was stuck in a predator loan with a very high monthly payment.  The balance of this loan was so high; I don't know how the borrowers could have qualified.  The loan was a no doc, stated income "liar loan".  The fees on the refinance were so high it was criminal.
The seller could not afford the loan in the first place and with the economic downturn he was certain to be foreclosed on.  The Seller and Buyer were both thrilled by  my … (1 comments)

royal oak: Buyer Agent Realtor Tip #1, "To Get A Great Buy, You Need To Be Ready Willing And Able To Act Fast, Birmingham, Michigan! Mike Sher - 09/10/09 04:02 AM
Just closed on a great home right in Down Town Birmingham!!  Yes it was a Foreclosure and yes it took for ever to close, but well worth it.   After texting my buyer about the home moments after it went back on the market. We walked through the door and knew it was a steal of a deal.   How did he know, because we lost 3 other homes just like this one because we wrote too late and too low. 
This time, we were not going to be 2nd fiddle.  I pulled out my netbook and wireless internet card and wrote the … (0 comments)

royal oak: Birmingham Short Sale Realtor Tip #25, "I never worry about ACTION, but only about INACTION", Winston Churchill. Michigan! Mike Sher - 09/10/09 03:39 AM
Often Realtors, Clients or Friends ask me what is the key to Short Sale success.  As you can guess from the Churchill quote above, "ACTION" is the key to success.  This quote also covers why Short Sales fail "INACTION".   Below I have listed examples of Action and Inaction: so you know the difference.
Action:
Faxing 3rd party authorizations the day you get the listing & ordering pre-title. Getting the hardship package scanned and prep with in the first weeks of the listing.  Lowering the list price every 10-15 days until you get an offer  Calling the back every time you fax … (0 comments)

royal oak: Top 10 Reasons Why Your Short Sale Will Not Close, Birmingham Michigan - 08/22/09 04:42 AM
This is a great blog.  Many listing agents plan to fail, because they failed to plan and getting a good education in our market is vital.  Plus they need to keep with all of the updates from Fannie Mae to Freddie Mac and FHA.  Read every post that you can find, look up new guidelines in your local board and stay ahead of the curve. 
But if you want to really help people, short sales are the way to do it!!!
Bravo Noel for such a good post.
 

10.) You sent in multiple offers to the bank. Put yourself in the bank's … (0 comments)

royal oak: Mike Sher Short Sale Realtor Tip #18, Tell the Seller, Best & Worst Case Scenario to Start, Or you may never reach The End! Birmingham Michigan! - 08/03/09 03:25 AM
 

As some of you Short Sale Realtors have found, many banks are not as open minded to releasing deficiencies (difference between what is owed and what the lender collects) as they were in the past.  (Countrywide who is now BOA) Bank Of America recently established a zero tolerance towards negotiating their Short Sale approval letters.  The new language is a follows: "BAC Home Loans Servicing, LP and/or its investor may pursue a deficiency judgment for the difference in the payment received and the total balance due,..."
 
This language is a little unsettling for sellers who were told that … (2 comments)

royal oak: Short Sale Realtor tip #13, Top 10 reasons why your home has not sold, Birmingham, MI - 05/19/09 05:40 AM
 
You're upside down with a loan greater then what the home can sell for. What you owe is irrelevant to how much a buyer is willing to pay for a it.   Other homes are priced far less because they are bank owned or Short Sales.  These homes are selling and their is an ample supply of them, you can not wait until they are all sold.. The local economy has generated buyers who are only looking for "Deals". If your home is not priced right it will sit because buyers will find another seller who will wheel and deal! … (2 comments)

royal oak: 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)

royal oak: Short Sale Realtor tip #9, Never Quit, Never Fail – Beverly Hills, MI Specialist - 05/06/09 04:28 AM
I enjoy a very high Short Sale closing ratio.  I.E., if I list a home as a Short Sale, I often sell it.  Many other realtors can not boast the same claim. Why am I so successful while others are not?  Not because I am smarter or better connected then them.  I NEVER QUIT!!!! 
I remember watching the summer Olympic swimmers last year.  If you watched the swim heats, you'll notice that the deciding factor of the race was not the first 180 meters but in the last 20.  Many swimmers got tired, over confident, under confident or just gave … (5 comments)

royal oak: 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)

royal oak: Oakland County FHA raised the loan limit to $297,500 effective NOW! - 02/27/09 04:04 AM
Good news for Oakland Country Realtors and Lenders!!!
 
FHA raised the loan limit to $297,500 effective Today! With a 3.5% down payment, it would let the purchaser buy a house at $308,290 (The buyer can go higher on the purchase price, but it would require more money down). Just an FYI!
 
Mike Sher
 
 
 
 
 
(1 comments)

royal oak: Short Sale Tip “Meet the BPO or Appraiser Sent By The Bank”! - 02/27/09 02:54 AM
As you are aware, the bank requires an independent assessment of value for the asset that you are short selling. These agents and appraisers are getting paid very little for what they do and are overworked. Make is easier for them, meet them at the home. Give them some comps that make sense. Remember, your short sale is in their hands. They are going to spend a few minutes in that house, pull up some comps from the MLS and reporting to the bank the value.
As you know, many agents MLS inputting skills are very sloppy!! Often agents may be … (14 comments)

royal oak: 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)

royal oak: Short Sale Letter From A Happy Seller!! - 02/16/09 08:22 AM
 This is a letter from a Rochester Hills client that hired me to sell their home!!
To whom it may concern:
I would definitely recommend Mike Sher and his team to anyone looking to sell their house, especially in this market, and especially if you need to do a short sale!  I found Mike Sher through his blog while looking for a realtor experienced in short sales.  Mike listed my house in November 2008, and we literally closed 2 months later!  I had my house listed with another agent for months with no offers.  It was amazing how fast he got … (3 comments)

royal oak: 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)

royal oak: 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)