Noel's Blog

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Real Estate Broker/Owner - J. Luis Properties, Inc.
For community information as well as just plain talk about the Real Estate market in general, check my blog. Better yet link it live.

ARCHIVED BLOG POSTS

2008 

I don't know about any other Realtors, but I have been keeping pretty busy. While most agents around the country are struggling, I am doing pretty well. Grant it this isn't 2005, but I'll take it. You see I recognized early on that we would be in this situation (somewhere around 2005) and that th...
05/25/2008
Usually whoever pays for the title search gets to choose the title company unless otherwise agreed upon. However, in effort to maintain control over the transaction sellers have been requiring buyers to use their title company. I have also seen banks feed the work to their subsidiaries by request...
05/25/2008
Something I have been seeing more and more lately is sellers requiring the buyer to prequalify with their preferred lender as a condition to the offer, especially with REO (Bank Owned Properties) properties. The buyer is not required to use the lender but the seller wants the pre-qual letter to c...
05/25/2008
Usually when clients call me regarding my services, they have missed a few payments and they are in various states of the foreclosure process. I will try to explain what can be done to avoid foreclosure.They are only a few options and here is a quick list:1. Reinstatement-This where the homeowner...
05/25/2008
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Back in March of 2007 I felt compelled to enter the foreclosure market because I quickly realized it would be the only market in my area and most of the country. I hate to say it but my predictions are coming to frutation and I am afraid this is only the beginning.I have put together this blog to...
05/19/2008
Before we can define what a Certified Distressed Property Expert is, we need to define what a distressed property is. A property can become distressed for a variety of reasons but the most common is a foreclosure. Any situation that has caused a property owner to have difficulty making mortgage p...
05/19/2008
The recent rave in the real estate community seems to be the infamous 'Short Sale'. I want to take a little time and briefly explain what a short sale is how it is being used in the real estate community to liquidate distressed properties.A short sale is a phrase used to described a sale in which...
05/19/2008
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  Foreclosure is the means that a bank has a legal right to take possession of a property if the mortgagor (owner) has failed to live up to the commitments as outlined in the mortgage agreement. Usually a missed payment will trigger this process. Foreclosure in itself is pretty straight forward. ...
05/19/2008
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The amount of money owed to a bank after a short sale can attempt to be recovered through a suit known as a deficiency judgment. Equally important to note, if the bank sells the property for less than what was owed or the foreclosure auction nets them less than what was owed they can also file a ...
05/19/2008
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