short sale realtors: Lenders Now More Inclined to Accept Short Sale Proposals
- 07/21/11 09:08 AM
It is a fact the foreclosure mess was the result of unscrupulous lending practices. Unfortunately, it did not stop there as federal regulators continue to investigate allegations of illegal foreclosures and penalize lenders who are found guilty.
With such heat experienced by the banks to make sure they are following proper and legal foreclosure process, it is not surprising why many have become more accepting of short sale proposals.
Short sale transactions used to be looked at by some banks with skepticism, thinking the homeowners are only trying to get out of their mortgage obligations by … (0 comments)
short sale realtors: When the Going Gets Tough, the Tough Consider Short Sale
- 06/15/11 09:33 PM
As a homeowner, your worst fear will usually involve losing your home to foreclosure. This is certainly something to think about considering the state the housing industry is currently in. Of course, there is such a thing as thinking ahead and it would be wise for you to look at your options — the best of which is a short sale.
A real estate transaction which involves selling the property at an amount equivalent to the mortgage owed, a short sale has become more popular in the last couple of months. Lenders, who previously looked at short sales as … (0 comments)
short sale realtors: Revisiting Short Sale Basics
- 06/01/11 02:12 PM
If you check the news lately, you cannot help but see how distressed properties sales are getting a hefty share of the market. In fact, for the first quarter of 2011, 28 percent of the total home sales activity involved properties in distress including short sale. For those of you who are thinking of investing in real estate and attracted to the benefits offered by short sale homes, you should at least refresh your memory with these short sale basic information. Who Dictates the Sale Price? The price of the property is actually the amount agreed by both the seller and … (0 comments)
short sale realtors: New FTC Rule Could Adversely Affect Short Sale Realtors
- 05/24/11 12:35 PM
A new Federal Trade Commission rule has prompted the National Association of Realtors to caution all real estate agents. The said rule aims to protect homeowners from fraudulent offers of mortgage relief by banning ALL upfront fees. It also requires the agent to make disclosures particularly when the agent is acting in their behalf during lender negotiations or when the agents are advertising their short sale expertise and services.
The rest of the rule does not make things better for the short sale Realtor. The disclosure language to be used is also defined and the actual disclosure should be … (0 comments)
short sale realtors: Short Sale: Back to Basics
- 03/20/11 10:06 AM
Although many of you have heard about short sales as a means to avoid foreclosure, not everyone is clear about what it really is. In order to provide you with a clear idea about this very effective foreclosure alternative, simply check out the basics. What is a short sale?In a short sale, the owner asks the lender to approve the sale of the property for an amount that is less than what the owner owes in mortgage debt. The premise, obviously, is the home is worth less than what it was originally purchased for and the owner now suffers from negative … (0 comments)
short sale realtors: Cash Sales Dominate Foreclosure and Short Sale-Filled Markets
- 02/28/11 10:43 PM
As home prices in Florida continue to fall, more and more investors and home buyers are getting off the sidelines and taking advantage of the opportunity to buy a cheap home. But what is surprising is that cash buyers are actually dominating the housing market. A report from the National Association of Realtors showed that 28 percent of the residential sales in 2010 involved cash deals. In 2009, it was just 19 percent. in Florida, the percentage is certainly higher with over 50 percent of the residential sales transaction involving cash buyers. Realtors believe that there are several reasons why many … (0 comments)
short sale realtors: Do Not End Up As A Statistic, Consider A Florida Short Sale
- 11/20/10 10:39 PM
According to a report released by the Mortgage Bankers Association, Florida has the highest number of homeowners who are seriously delinquent with their mortgage payments. About 19.52 percent were about 90 days delayed on their payments while a significant percentage of the borrowers are a month or two behind. Based on this, there is one out of four Florida homeowners who are delinquent. It is believed the reason for Florida’s delinquency rates are because of the enduring unemployment problem and the continuing decline of home prices as a result of the foreclosure mess. Of course, it does not help that in … (2 comments)
short sale realtors: Tips for Short Sale Realtors
- 11/10/10 10:47 AM
Being in the business of helping homeowners with a short sale transaction is no longer as easy and simple as it used to be. With lenders worried about fraudulent short sale proposals, the chances of getting approved for sometimes seems it has become so slim you would actually wonder if it is all worth it. If you add the other problems usually encountered by short sale Realtors such as cut commissions and the seller or buyer backing out at the very last minute, it is not surprising why a lot of agents are leaving the short sale business. Of course, there … (1 comments)
short sale realtors: Lenders: Last Chance for Homeowners Turning to Short Sales
- 10/26/10 09:56 PM
During the housing boom, a lot of home buyers thought they are finally going to live the American dream. But the mortgage industry collapse and the global financial crisis, it is not surprising that for many, the dream has turned into a nightmare. A considerable number of homeowners now have what is referred to as an underwater mortgage. This is a situation wherein you owe more in mortgage than what the property is currently valued in the market. One way out of this particular mortgage mess is through a short sale. It is a transaction wherein the lender agrees to accept … (0 comments)
short sale realtors: Take Advantage of the Foreclosure Moratorium, Go for a Short Sale
- 10/26/10 09:56 PM
When news spread around that a lot of distressed homeowners are claiming they are victims of faulty foreclosure documents, you can literally hear the entire industry hold its breath. The response of the lenders is even more surprising. Instead of ignoring the claims, they decided to halt all foreclosure transactions so that they can review their processes and paperwork. Now, if you look at how the industry has been coping with the foreclosure crisis, these discoveries or claims should not come as a surprise. After all, even the lenders themselves have admitted they were not prepared for the volume of homes … (0 comments)
short sale realtors: Lenders Approving More Florida Short Sales
- 10/20/10 02:13 PM
Right now, short sales in Southwest Florida are enjoying a huge presence mainly due to the decision of the country’s largest mortgage servicers to halt foreclosures amidst discoveries of erroneous and faulty documents. But there are signs the logjam is clearing. Last Monday, Bank of America announced it will resume its seizure of over 100,000 homes located in 23 states in the coming week. But even if this is the case, the decision of the other giant services, JPMorgan Chase and Ally Financial, has already made a positive impact in several Florida counties including Sarasota, Charlotte and Manatee. The housing market … (1 comments)
short sale realtors: Short Sale Tips for Realtors Working with Distressed Sellers
- 10/08/10 01:29 PM
In real estate, sellers considering a short sale are not the only ones being stressed out by the situation. You should not be surprised to learn Realtors also feel the pressure and the stress of such a complicated and lengthy transaction. Short sale Realtors have the tough job of making sure the seller understands what is going on. It is understandable that during this time the sellers are a bit emotional and will sometimes be difficult to communicate with. Worse, if the Realtor failed to show remorse or empathy, they will be thought of as being insensitive. For Realtors who would … (0 comments)
Real estate in Florida is ever changing so to keep up with the times please frequent this blog.
At the forefront of our market right now are short sales. As a Realtor in Florida I have been working with those who need to sell their homes as a short sale.
It is a fact the foreclosure mess was the result of unscrupulous lending practices. Unfortunately, it did not stop there as federal regulators continue to investigate allegations of illegal foreclosures and penalize lenders who are found guilty. 
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