wesellupsidedownhomescom: Who Do You TRUST ? - 03/31/09 04:51 AM
  What seems like a million years ago...when televisions were black and white.....when the test pattern ran all night....before videos...remote controls...cable.,...there was a show called WHO DO YOU TRUST ?


  It was 1957....Johnny Carson hosted the show which had couples with interesting backgrounds. One spouse could answer a question....OR trust their husband or wife to give a better answer. Winning all four rounds of the game won that couple $1200 and a bonus of $100 a week for a year.  It was the beginning of what became a familiar comedic pairing...Johnny Carson and Ed MacMahon.
   As buyers … (2 comments)

wesellupsidedownhomescom: Time is Important...Use it for Saving Money with Short $ales ! - 03/26/09 10:02 PM
    

  We had a call yesterday from an agent considering writing an offer on one of our short sale listings...he said he knew all about short sales....and he had prepared his buyers that they may have to wait at least 21 days for bank approval....oh yeah...now there's a thought.  I asked him if they had a home to sell..."They have 'just about sold theirs." (Huh ? How is that almost commission working for you ?)
   If your buyers are not prepared to wait...can't rent month to month...bunk in with whomever for a little bit to gain the benefits … (10 comments)

wesellupsidedownhomescom: Dear Mr./Ms Lender......I am sooo not the Boogey Man..... - 03/17/09 12:10 PM
 
 
Dear Lender.....
   This is a difficult time for many homeowners...and I am working harder than I have ever worked before to help homeowners who for reasons of hardship cannot pay the mortgages and home equity lines that they have borrowed from you.
     At the time you lent them the money...You believed that they were capable of making the payments. You believed that their home was worth the amount of the mortgage and very often, the additional second mortgage or HELOC (Home Equity Line of Credit) that you extended to them. 
       The homeowner, as the … (4 comments)

wesellupsidedownhomescom: Buying a Short Sale...A Little time can be worth a LOT of MONEY $$$$ !! - 02/28/09 01:27 AM
 

 
 Education is the key to success....and it is the key to educating your buyers about short sales...isn't the wait of a couple months worth what could be tens of thousands of dollars ? Ya Think, maybe ?

 
        Looking at short sales is part of the opportunity of a lifetime for buyers in this market....and BUYING a short sale can be the DEAL of a lifetime for both the buyer and the seller...
   Agents and Buyers...make sure the listing agent has SUCCESSFUL SHORT SALE EXPERIENCE...While there is a not a precise date for closing...there is … (4 comments)

wesellupsidedownhomescom: Short Sale SALES....Selling Agents Need to Learn.... - 02/16/09 01:24 AM



  We have an offer on a gorgeous short sale  home that we just got last week...it was accepted by the sellers and promptly submitted to the lenders by our coordinator. The selling agent just called this morning at 7:30 to proudly announce that the buyers had just sold their home.  How nice...not that it matters since the offer was of course, not contingent on the sale of their home...
   Soooo...the agent continued....now my buyers would like to move the closing up considerably....that won't be a problem will it ?
  Of course not...we will get right … (14 comments)

wesellupsidedownhomescom: Short Sale Tales...Rumors....Oh Not....Not Again... - 02/12/09 05:59 AM
    We recently listed a home as a short sale and the Seller was amazed...of course she believed that her home was worth the Zillion Dollars that her former agent for a list price.  That would mean paying the mortgage, the HELOC (Home Equity Line of Credit) and giving her and her soon to be ex-husband a little bit to "start over"....and then the ugly housing market raised it's head..unemployment became reality for her and the reality of a short sale was the only answer.
    Knowing what the Short Sale Price would be...not the inflated price that it had been listed … (9 comments)

wesellupsidedownhomescom: Short Sale Tales....Another Realtor told Me My House Was Worth.... - 02/11/09 02:12 PM
   All too often when we are called by a seller....he/she/they have done what they believe is the prudent thing to do...and I would agree...and they want to interview one than realtor...their mother, sister, neighbor recommended...they were a FSBO and were oh sooo flattered when every Tom, Dick, Susie and Linda called them and said they would be honored to list the house.
    "Did they provide a market analysis?" I ask....Oh sure they did...they showed them other homes just like...not as nice...as theirs and they sold for sooo much money it woud more than cover what they owed even if … (6 comments)

wesellupsidedownhomescom: Another Sleepless Short Sale Night..... - 02/07/09 08:38 AM



  Late yesterday afternoon we called on a prospective short sale seller who had a beautiful home...it didn't start out sooo beautiful...they bought it at a good price and did what they had done to others that they had flipped in the past. The gave a while new meaning to "Re-Model"...everything had been given a great deal of thought...to maximize use and storage...updates...a master suite that compared only to the finest hotels with whirlpool, separate shower, fireplace, walk in dresssing room/closet with daylight window...mmmmm...updated kitchen...knock down drywall everywhere...well decorated. They even "lifted" the former sloping ceiling above the … (8 comments)

wesellupsidedownhomescom: Short Sales....Touch Your Heart..... - 02/01/09 11:16 AM
   We get all kinds of comments from people who know that we devote literally thousands of dollars in training....many hours....waking and those that KEEP us awake...to Short Sales.  We love real estate...I always say that if I could stay awake and functioning more hours, I would do more real estate. Sometimes the comments are from other realtors....one said:
                         " I would never 'do short sales', the time it takes would interfere with my lifestyle."
                It sure is up to every practicing realtor to choose what areas they wish to define as "their practice".
     Other realtors....who are afraid … (0 comments)

wesellupsidedownhomescom: Short Sale Tale Part 36 Short Sales MUST be Arm's Length.... - 01/29/09 11:37 AM
If you are related to someone who is upside down with their mortgage...has missed more than one mortgage payment for whatever hardship reason....illness, death of a spouse, loss of job or decrease in earnings, a mortgage that adjusted beyond an affordable payment...or some combination of these problems.....you can empathesize, sympathesize but if you are a realtor...you cannot list the property OR even get a referral fee for the listing.   Lenders are united in this prohibited practice. Just as sellers are not permitted to receive any proceeds from a short sale, relatives are not allowed to benefit either. This eliminates any suspicion a … (2 comments)

wesellupsidedownhomescom: Sometimes The Best Things in Life ARE Free ! - 01/28/09 12:24 AM
    



 I spoke with someone yesterday who knew 2 people with homes in foreclosure that did not know about or understand the merits of a Short Sale. The homes were listed for more than they would ever appraise for because the listing agents BOUGHT the listing. They listened to the homeowner....they made a list of what the seller owed including mortgage payments for which they were behind...added commission, maybe a sprinkle of back taxes and topped it all with a "little bit extra" to start over and then put the house on the market for this inflated price....to the seller, … (0 comments)

wesellupsidedownhomescom: Short Sale Tales Part 34 Real Estate With Compassion.... - 01/22/09 01:45 AM
  Some people have the very much mistaken impression that if a home is being sold as a Short Sale, the sellers must be dead beats...financially irresponsible Know Nothings.....No ambition to get a "real job"....Those people with THOSE THOUGHT PATTERNS ARE WRONG....Unfortunately,it has been our experience that some of THOSE people are Realtors !!!!
     There are lots of reasons for hardship and more in a soft economy than there might be otherwise. Hardship is the reason for a short sale. Some examples that we have come across in the Short Sale part of our practice include:                                  * Unemployment, reduced hours … (4 comments)

wesellupsidedownhomescom: We are Now Certified Distressed Property Experts (CPDE) !!!! - 01/21/09 09:51 AM
 

    Today we completed an intensive course in better serving real estate sellers in Southeastern Wisconsin as Short Sale Specialists...now with this designation. ...a Certified Distressed Property Expert.  We flew from Wisconsin to Palm Beach, Florida and spent the last several days learning and studying to further be able to help sellers who are upside down with the mortgages through some hardship and no fault of their own. All of the 80+ realtors who were a part of this training were there and paid their way from various parts of the country because we all care....care about saving home … (5 comments)

wesellupsidedownhomescom: Short Sale Tale Part 33 - Lawsuits for Realtors who take Sellers to Foreclosure - 01/20/09 10:49 AM
 
 

 
 The more short sales that we do....and the more we are educated about doing them....the more horror stories we hear about Realtors who were responsible for taking homeowners into foreclosure....or sometimes, short sale status, If the home would have been priced to sell...priced at what the comps showed the price should be....the seller may have made no or little profit...BUT they would not be in a short sale or foreclosure position.   They listened to the seller, they whine....they "needed" they money...oh Pulllllleeez....if you were an experienced, make that ETHICAL realtor you would know....and maybe you DID know … (2 comments)

wesellupsidedownhomescom: We are Sooo Excited...Tomorrow we begin our CDPE Training.... - 01/19/09 12:29 PM
  
 
 
 
 Sometimes, just getting to be in temperatures above zero in Wisconsin is enough to get your heart beating faster and we are doing that being in Palm Beach, Florida to begin our classes as Certified Depressed Property Experts.  We believe that there is no such thing as toooo much education....we have taken other classes....we have taken part in Webinars...we have read articles and books and look forward to Elizabeth Weintraub's new book on Short Sales.
   We have had broker/managers tell us "everyone does short sales....we talked about it in a sales meeting".....OR on the opposite end....there … (1 comments)

wesellupsidedownhomescom: Short Sale Tales Part 33 Desperate People Price Desparately - 01/01/09 11:55 PM
   Whenever we have a listing appointment...Short Sale or Not and don't get the listing....you always want to know WHY....is there something we could have said or done differently that would have changed the outcome ? Did we omit something in the presentation that another agent used....Was it too long, too short....The answer for us, 99.9% of the time is always the same....we wouldn't BUY the listing....we didn't tell the sellers that they don't really have to short sale their home after all...it just needs the right promotion, our dynamite marketing plan....a video tour, more internet exposure, an additonal open house......THEN … (3 comments)

wesellupsidedownhomescom: Short Sale Tales Part 32 - Hardship Letters....No Whining ! - 12/31/08 12:46 AM
                                                            If the headline sounds cruel...I apologize...no one has gone thru more tissues than I have in hearing the Short Sale tales we have come across in this market...many very sad ones.....unemployment, illness, divorce, things in life that no one plans in the "happily ever after" of their vision of how things should be.....It can be paralyzing...the fear of the unknown is very scary and we understand that.
   One of the important elements in a short sale package is the Hardship letter. Ideally, it is handwritten. In some cases (my own handwriting best described as "doctoral") a typed letter … (6 comments)

wesellupsidedownhomescom: Short Sale Tale Part 31 "Why do they care what the offer is...." - 12/22/08 02:08 PM

 

      We recently got an offer on a short sale...which had been priced tooo high for too long. The buyers are well qualified but they wrote considerably under the already generously discounted price...the selling agent had no understanding of a short sale...had never written on or listed one.  We explained that while the buyer is welcome to have an inspection...test the septic and the well...do a radon test and any other test that they thought was appropriate....the seller was not paying for any repairs or replacement. There are often at least two lenders in short sales....and this was … (0 comments)

wesellupsidedownhomescom: Three Ways YOU can Contribute to Real Estate Recovery..... - 12/21/08 11:21 PM
   Soooo...you think the housing market is feeling a little "under the weather" ? If you live in the frozen tundra of the north where we REALLY know how to get ready for Santa's sleigh....then you REALLY know what "under" is all about....



   If you REALLY want to contribute to the recovery we know is on the way...here are some things that will speed the process...Just do or in some cases...don't do....and watch what happens !




Price to SELL,...Not to SIT !  Realtors...if you buy into a Sellers' : "I need, I have to … (0 comments)

wesellupsidedownhomescom: Short Sale Tales Part 27 Short Sale "Home Evaluation" - 12/16/08 01:24 PM
We got a call from a perspective  short sale seller today...we were out and the message said he had been referred to us along with one other agent...the message indicated he was going to give the listing to whomever had "the best evaluation of their home."  Oh yicks...now we are not only doing a CMA we will also be doing a short sale education class.  The best agent to sell a short sale is one with both education and successful short sale experience.  It doesn't matter which agent has "bought the listing" giving the seller the higher price.  The seller cannot … (0 comments)

 
Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce  (EXP Realty 414-525-0563) Rainmaker large

Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce

Brookfield, WI

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EXP Realty 414-525-0563

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