troy: 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)

troy: Oakland County Short Sale Class!: Avoiding the Pitfalls of Foreclosures. Troy, Bloomfield, Rochester & Birmingham By Mike Sher - 07/26/10 12:52 PM
Avoiding the Pitfalls of Foreclosures & Short Sales
Nationally, ONE out of EIGHT homeowners is behind on mortgage payments.  We can help our neighbors in need and prevent foreclosures with information alone!  The current US housing market and financial crises has affect ALL of us!
Chances are you or someone you know is having trouble making their mortgage payment each month and doesn't know their options are.  As a service to our community, I've decided to host a FREE Foreclosure Avoidance Seminar to give information, help and advice on what to do when you're upside down on your mortgage. Avoiding … (1 comments)

troy: 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)

troy: Birmingham MI Equator Bank Of America Short Sale Log Troy Real Estate Agent - 01/26/10 12:39 AM
Short Sale, Troy MI.  By Mike Sher, Max Broock Realtors, Bloomfield Hills, Michigan
I just got my first equator BOA short sale approved. Both the first and 2nd were with BOA and they negotiated the loans together, which was nice. Time line as follows: 9/9/09 faxed the hardship and offer to to BOA in 10 page faxes. 9/24/09, they did not have the fax yet though re-faxed 3 times. Found a Short Sale person who allowed me to email it to him to be uploaded10/1/2009 Exterior BPO was done 10/7/09 file was moved o REO Trans 10/20/09 seller and Mike Sher … (17 comments)

troy: 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)

troy: Short Sale Realtor Tip #22, I will be on a Short Sale Panel Real Estate Investor’s Association (REIA) Of Oakland, On Thursday August 13th 2009 from 7-9:30pm in Troy Michigan! Mike Sher - 08/12/09 03:20 AM
See the information below or just click the link.  This should be a good opportunity for those of you who would like to hear three different professionals who are all working on short sales.  Hope some of you can make it.  If you can come, please come up to me and introduce yourself, like to know someone is reading my blog.
Mike 
http://www.reiaofoakland.com/home.html

Proudly PresentsAugust 13, 2009  
Short Sale Panel   
"Short Sales Aren't Worth My Time""Short Sales Never Close""Short Sales Take Too Long""The Banks Take Too Long"
Have We Covered All Of The Excuses Why You Don't Like Short Sales?
How About The Real … (1 comments)

troy: 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)

troy: 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)

troy: Short Sale Realtor tip #12, if you are unwilling to really work the short sale, then don’t take the listing, Birmingham, MI - 05/19/09 02:27 AM
 

Realtors hate saying no; we are in the yes business.  In the past, saying yes was not a big problem.  If an agent wanted to "buy the listing" (tell the seller what they wanted to hear to secure the listing), the greatest harm done to the client, was the disappointment of selling for less then promised.  Not the best practice by Realtors but it was done to get their sign in the yard of attractive homes.  An agent would get buyers, a neighborhood presence and maybe even sell the home after a few price reductions.
 
Now in a Short Sale, … (3 comments)

troy: 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)

troy: Short Sale Realtor tip #10, Top 5 reasons to choose Short Sale over Foreclosure, Troy, MI - 05/07/09 02:54 AM
Short Sale Realtor tip #10, Top 5 reasons why a seller should choose a Short Sale over a Foreclosure, Troy, MI:
With a Short Sale, you have Leverage to negotiate terms with the bank, a Foreclosure you have none. Often with a foreclosure, the asset is worth less then the note so the investor can hire an attorney to collect through wage garnishment and liens up to 10 years or longer. A Foreclosure must be disclosed on future applications for credit and employment.  Plus, security clearances can be revoked, denied or limited. A foreclosure on your credit report is almost impossible … (0 comments)

troy: 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)

troy: 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)

troy: 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)