wesellupsidedownhomescom: "If I Write for $X on Your Short Sale Listing, What if it doesn't Cover the Mortgage ?"
- 07/13/10 12:23 AM
"If I Write for $X on Your Short Sale Listing,
What if it doesn't Cover the Mortgage ?"
This was a comment made by a selling agent ...who "knew about short sales" and had buyers considering writing an offer. Short sales are not as common in Wisconsin as they are in some parts of the country. Whether you choose to do them, get trained to list them or just want to understand the market....understand the term...
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It means that the bank(s) who hold the mortgage(s) will be short of the total amount … (23 comments)
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wesellupsidedownhomescom: "I'm not Making Enough Money as a Landlord...I want to do a Short Sale..."
- 07/10/10 12:56 AM
We got a call from a landlord/homeowner who was in the mood to start over in life....no more rental properties, sell the primary residence, re-marry and begin life over again....sounds like fun. The conversation began,
"I want to sell all my properties, I don't care if I don't make any money, I just want to pay off the bank."
While we were talking I began to pull up the tax records on mls...the would be seller ticked off approximate mortgage balances and continued talking about how this landlording thing was a drain on time and energy. I asked if property … (22 comments)
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wesellupsidedownhomescom: The Best Listing We Never Got.....
- 07/02/10 12:47 AM
Part of our real estate practice is devoted to short sales...and as any realtor who chooses to do these knows...this part of your practice is usually your heart....and a good part of your head that really has to get "into" the whole process to make it work for everyone concerned.
We were referred to a couple who had a rental property...I always stop short of calling them "income properties"...these days income may be harder to extract from properties. They were panicked because a tenant was leaving...they had repairs that were over due....and beyond that...they had really never looked at … (3 comments)
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wesellupsidedownhomescom: Morgan Oaks....Welcome Inside this Custom Colonial..Short on Price, Long on Value !
- 06/18/10 12:32 AM
We knew you were waiting with baited breath for the interior shots of our new short sale listing in the coveted Morgan Oaks sub-division in Greenfield and the Whitnall School district. Hmmm...culdesac location...heated 3 car garage....it doesn't get better at a better price...come see it...live and in person at the open house at:
3537 South 123rd Street, Greenfield WI
Saturday, June 19th 2:30 -4 pm or by appointment : 414-525-0563
… (6 comments)
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wesellupsidedownhomescom: WOW Custom Colonial in Morgan Oaks - 4 bed -2.5 ba., Patio, Hot Tub WOW !
- 06/17/10 02:05 AM
3537 South 123rd Street, Greenfield WI
You saw it here FIRST !!!! Photographer shooting interior this afternoon...stay tuned !
Coveted Morgan Oaks sub-division - east on Morgan Oaks Drive one block to 123rd -north to this great culdesac location. Lucious lot with brick patio and hot tub naturally fenced backdrop of nature's greenery. Formal living an dining room; family room with fieldstone gas fireplace and raised hearth...open to the patio and on to the spacious kitchen with hardwood floors, granite counters..pantry cupboard and first floor master suite. Indulge in the private bath with whirlpool and … (6 comments)
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wesellupsidedownhomescom: "I'm in No Hurry to Show Your Listing...It's a Short Sale.." Sneared the Agent
- 06/13/10 01:09 AM
I would guess most agents are somewhat protective/defensive of the sellers...and if you are an agent who chooses to include short sales as a part of your practice, that may be magnified.
Whatever the hardship...you as an agent, are not insensitive to it.
We give our short sale properties....and sellers the same dignity and respect we give our traditional listings and sellers. This particular short sale...was a real cream puff...down to the new furnace filter...manicured landscaping, newer appliances, finished lower level...the list goes on and when it hit MLS and the consumer media, the phone began to ring...10 … (19 comments)
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wesellupsidedownhomescom: Come on to Danny Tanner's Open House Sat. June 12th Noon to 2 !
- 06/11/10 01:10 AM
It's an open House.....brought to you by Danner Tanner and Felix Unger....or at least you will think so !
3178 South 43rd Street, Milwaukee, WI
3 beds, 1 bath cape
$129,777
Updated kitchen with appliances...newer concrete patio ready to picnic...2 car garage..fenced backyard..glass block windlows on the lower level with half bath and laundry with washer and dryer,...newer carpet...
This short sale will go a loooong way to making a new homeowner very happy! Just one block south of Oklahoma..
Well maintained is an under statement...bring your checkbook !
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… (9 comments)
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wesellupsidedownhomescom: Greetings from SUNNY Arizona...CDPE....Momentum 2010
- 05/21/10 03:07 PM
Sunshine has a whole new meaning today when you are from the sometimes frigid midwest...and greeted with temperatures nearing 100 yesterday and today people are complaining it with ONLY be 85....that is just fine with us.
We began the conference with the ever dynamic Alex Charfen, who founded CDPE and has seen some tough times himself financially....proving if you have the attitude and the willpower, you have no limits to what you can achieve...at many points, men and women....all CDPE experienced agents....were seen to be drying a tear while giving him the applause he so richly deserves.
The … (12 comments)
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wesellupsidedownhomescom: We Have an Offer ! "Never mind, I just filed for Bankruptcy" said the Seller
- 04/06/10 11:12 PM
Short sales are a wonderful thing...we believe it ...we do it...we learn from every listing...every twist and turn in the process. While we believe that a short sale is very often a great remedy for a distressed homeowner...there are circumstances that don't make it the best remedy. In some cases, it is necessary for us to step back....for us to refer the seller to a qualified real estate lawyer for evaluation of the entire situation....and monitoring that situation as things change in the life of the seller(s).
We had a listing that had an offer....and a few days before...the … (11 comments)
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wesellupsidedownhomescom: "My Buyers signed everything, we'll close next week," said the selling agent for our Short Sale
- 04/01/10 08:32 AM
We recently listed a short sale that got multiple offers...a cute house that lots of families wanted to call home. The dirth of paperwork was completed by both the buyer and seller. The selling agent knew all about short sales..she had training in a sales meeting...and her signature indicated an "SFR" Short Sale Foreclosure Resource.
"Now that all the paperwork is completed, we can close next week," she decided.
Hmmm....that would be nice...but...there is this matter of approval by the lender which for some reason she felt was an instant conclusion when everything was signed and sealed.
We … (6 comments)
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wesellupsidedownhomescom: "They Shouldn't Have Lived Beyond Their Means....."
- 03/08/10 11:22 PM
Sometimes when people hear we do Short Sales they look at the situation and decide it is a free ride for a homeowner that has just decided not to pay their mortgage. We see it as our obligation as does every agent with short sales as a part of their practice to educate people....to help them understand that it is likely that someone they know may be in the position of not being able to pay their mortgage and that this is a solution to avoid foreclosure. There is a decision to do a short sale...not one to be taken … (20 comments)
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wesellupsidedownhomescom: Short Sale Experiments...Homeowners Beware...Don't Be One !
- 03/05/10 10:33 PM
We got a call from an agent the other day...she has been licensed almost a decade and has a geographic farm that is very loyal to her and she to them. She provides the kind of service "above and beyond" that creates a loyal following and a good real estate practice.
Her voice had an embarrassed tone to it....she had "tried to do a short sale" She had done what she believed was the best she could do...and we are sure it was just that...the best she could do without any experience or training. She asked other people in … (12 comments)
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wesellupsidedownhomescom: Go Ahead Steal It...Franklin WI Short Sale Condo...WOW !
- 03/05/10 03:03 AM
The Buyers' Loss is your gain...Back on the market...Come quickly...this 3 bedroom condo is larger than some homes...OVER 1200 square feet ! Take a dip in the outdoor pool....enjoy the clubhouse...convenient location...WOW ! Showing appointments thru listers...Our Short Sale Team doesn't just list short sales...we close them !
… (1 comments)
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wesellupsidedownhomescom: Arrogance ...Has WHAT place in Business...We Forget ...
- 03/02/10 04:33 AM
We took out buyers to a beautiful home the other day....everything about it was what they loved...from the paint colors to the room layout...then there was the matter of the price. They COULD pay at or near asking.... after careful review with their financial planner, they decided it was just not a part of their financial plan at this point in time. Researching the history of the property...the price was apparently in no other buyer's plans either....at various prices...the home has been on the market a total of 741 days. We have had sellers sell and buyer short and traditional … (12 comments)
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wesellupsidedownhomescom: "I Love You But...3 other Realtors Said...." Confessed the Desperate Seller
- 02/27/10 10:53 PM
We thought...that the realtors who had not "shifted" were gone...or nearly extinct...and gone on to pursue other professions. That they had learned, through more trial and error that "buying a listing" does not work. You cannot make money....sell homes, keep or attract clients and customers when you over price a home to get the listing...it just does not work....
We looked at a house the other day....blocks from the home I grew up in...I know the neighborhood...and still know many of the neighbors. The man had gotten the house back in a divorce. His now ex-wife had been a … (122 comments)
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wesellupsidedownhomescom: CAUTION: Overpricing Can Be the First Step to Foreclosure
- 02/20/10 11:21 PM
We recently closed a short sale that had been listed by five previous agents over the course of a three year period. The very distraught sellers told us that they listened to everything every agent before us had told them....they knew that real estate was not their business...they knew what they didn't knew. They painted, fixed, staged and priced the house as the agents suggested....and as the market slid and values took a dive, each agent listed the house either at the same price as the previous agent...because of course, their plan for marketing/advertising would make all the difference...OR just … (4 comments)
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wesellupsidedownhomescom: DO Ask...DO Tell.....Net Proceeds Sheet With Every Listing !
- 02/16/10 09:35 PM
The story of the soon to be divorced man who did not realize his wife had not paid the mortgage...just keeps getting better..or rather, worse. We told him to go to the bank and get the straight story from the lender's mouth as to what "the state of the state" was concerning the mortgage on his marital property. He left the home in November....and he trusted that his wife, who had always taken care of the bills, had been taking care of the mortgage as he believed she always had done.
A brief talk with the banker was very … (6 comments)
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wesellupsidedownhomescom: Because You're First Doesn't Mean You're Next....
- 02/14/10 10:20 PM
Sometimes in Short Sales... after an offer has been accepted as primary....buyers come out of the woodwork and offers are written higher than the primary offer submitted. It is our responsibity, as agents for the seller, to submit the other offers in a secondary position to the lender. All listings always include the famous disclaimer:
"All Offers and conditions are subject to approval of the lender."
Lenders of course, want to re-coup as many dollars as possible within appraisable guidelines, As a matter of professional and ethical courtesey....we let the agent who has written the primary … (9 comments)
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wesellupsidedownhomescom: "How Long Did the Negotiator Say It Would Take to Close this Short Sale ?"
- 01/16/10 11:48 AM
We just listed a short sale...which will be open for the first time tomorrow...Cute exposed ranch...great location...well kept...super price....and yahooooo the buyers are out...and apparently the new agents as well.
RING ! RING !
"Hi this is Agent Suzy ...I see you have a new short sale listing...I would like to set up a showing at 3:30....Has the
negotiator told you how quickly it could close ?"
" There is an open house as it states in MLS Suzy....right at that time...Negotiator... ? It is a new listing...."
Please … (2 comments)
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wesellupsidedownhomescom: "Not that it matters...." repeated the Lender.......
- 12/22/09 09:53 PM
with lots of different lenders with short sale transactions...recently we had one who calls nearly every day...now there's a switch...we need not call them....they call us....She is on a mission. She begins evry daily conversation with "Not that it matters....I just need it for the file....." and proceeds with her daily quiz questions to which she already has the answers. Trying to put all the puzzle pieces together....even if they don't fit. Somehow she hopes......the sellers have lied and we may forget whatever story she thinks they manufactured and accidentally blurt out the truth. We did fall off the Christmas tree … (7 comments)
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"If I Write for $X on Your Short Sale Listing,
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