In conversation with other realtors the other day..someone asked the usual "How's business ?" question. We said "GREAT !" We had a number of short sales closed or closing "shortly"...(forgive the pun.) "Oh yes,...EVERYONE is doing Short Sales." Maybe....especially from what we see on Active Rain....Everyone should not be doing short sales...because: 1) "Everyone" can LIST a short sale...Can Everyone Market a short sale ? 2) If I were either a seller or a referral source... Ask the Realtor ...Have you actually CLOSED a Short Sale ? 3) Is there more than one lien holder ? We see "rules" from realtors who limit … (0 comments)
wisconsin foreclosures: Short Sale Tales No 12 -"Low Ball/Quick Closing"....What don't you Understand ?
- 10/22/08 12:02 AM
We got a call the other night on one of our short sale listings. The agent was considering making a showing appointment for a home deeply discounted and new on the market. "I know your seller is in trouble...how about if my buyers offer $100,000 less(this would represent a 20% discount) and a quick closing." I was not believing what I was hearing...not that people don't make lower than asking offers...or try...but that combined with a "quick closing" ? IF a home is listed as a short sale by a listing agent that understands the strategy of a short sale market … (6 comments)
We believe very strongly in the power of positive thinking....treasure mapping...up attitude...tomorrow is a new day...work hard...keep your nose on that grindstone....if you don't like the results, change the way you work...learn from others who are successful in your chosen field...change fields....do what makes you happy...enjoy your work. We work with lots of short sales...and see a number of perspective short sale sellers as well..hind sight is always better of course...and we always see everyone else's situation more objectively than they do....and we so understand that...the hardest thing to do is be objective about ourselves. If … (0 comments)
When you are feeling down....emotionally, financially, economically, physically...whatever the case..that is not the time to make life changing or major decisions. We had a seller the other day who is about to work on getting a counter together....he asked me if he should move quite a distance outside the metropolitan area to a trailer park where his Aunt lives. YICKS ! But....but.....ok so you don't have a job now...you don't have a lot of money now....but that will change.... If you move far outside the area, your older car has longer to travel, more gas, more … (1 comments)
I spoke with an attorney today about a soon (she hopes) to be divorced client that would like to list her home as a short sale. Since Wisconsin is a marital property state...the decision is not hers alone. The house was listed for what we believe is six figures over the market value by the previous realtor who listened to the husband who was trying to cover the indebtedness of a first and second mortgage and then of course add a little so they could "start over". That's how you determine a sale price in any market...based … (0 comments)
wisconsin foreclosures: Sorry....You Misunderstood...there is NOT a Federal Real Estate Fairy
- 09/03/08 08:50 AM
We do short sales and have to date, had them all come together and everyone both residentially and commercially has lived happily ever after. We are probably 30 days away from closing on a tiny condo that was a referral from a past seller. It's a tiny place and we were fortunate to get an offer. The seller was very nervous....we have been there no less than 10 times to calm her fears...help her with other housing lists for assisted housing....and now we needed the time to close and we called and called and called....to no avail for 4 days, … (7 comments)
Everyone has to start somewhere...we all have to go to licensing school....maybe train with a broker, shadow an agent, be an assistant. I still keep in touch with the lady who is now a widow who owned my first listing,....and she still doesn't know she was first ! Short sales are a very new animal in our market....Pullllllllllllllleez....know what you don't know...it's like trying to sell commercial real estate without the training or experience...it's NOT the same thing at all. What favor are you doing the seller, the buyer the industry or yourself by sailing … (1 comments)
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