David Monroe's Real Estate Blog

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Real Estate Agent - Keller Williams Realty
As a real estate agent specializing in short sales and traditional sales in Seattle, Kirkland, Bellevue, Everett, and surrounding communities, I share my thoughts about short sales, foreclosure, and other relevant real estate topics.

ARCHIVED BLOG POSTS

2010 

Washington State is a non-judicial foreclosure state, meaning that the lender is not required to sue the borrower in default in order foreclose.  Most home loans in Washington State are based on a deed of trust (mortgage instrument) with a “power of sale” clause that pre-authorizes the sale of th...
02/26/2010
I’ve received many calls from prospective buyers interested in my short sale listings asking if the listing price has been approved by the bank.  On a short sale, the seller owes more than their house is worth, so the seller’s lender(s) must approve the sale price and accept a discounted loan pay...
02/24/2010
Many real estate agents in Washington State use unlicensed third-party negotiators to handle their short sales.  I have always discouraged that practice (see my March, 2009 blog post, Is Your Real Estate Agent Breaking The Law?). The Washington State Department of Licensing has now taken an offic...
02/11/2010
Is there such a thing as an unsellable house?  There’s a wealth of information available on preparing and staging a house to sell, but what about situations where the house can’t be properly prepared or fixed up to sell?  I work a lot with short sales and pre-foreclosures, and in many of these si...
02/08/2010
Consider this scenario:  You paid off your house a few years ago now you’re selling it for $300,000.  You figure that you would make a better return on your money by offering owner financing instead of cashing out and investing the money somewhere else.  This is a big part of your retirement, so ...
02/06/2010
We’ve all seen the horror stories relating to short sales, and some of us have experienced them.  As a short sale specialist, I often times find myself questioning the logic of banks. The government has even stepped in on occasion, passing legislation and proposing guidelines that are supposed to...
02/03/2010
I specialize in short sales, and I’ve observed many actions by banks that seem to defy logic.  This particular experience is no exception. A while back, I had a short sale listing that was being negotiated with the bank at $300,000.  The buyer ended up backing out right before we received the sho...
02/03/2010
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David Monroe

Short Sale Real Estate Agent
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