Short Sale Listing Agent In Orange County, California | When To Talk To A Realtor® About A Short Sale | Short Sale Listing Agents

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Real Estate Agent with Karen Parsons-Fiddler, Broker 949-510-2395 BRE# 01494165

 

I've thought long and hard about this post! Wondering what to say to people who are considering a short sale of their home. The actual process and steps are rather simple,

1) list home
2) find buyer
3) negotiate with your lenders
4) close escrow

I realize that was a simplified list....but really it is about that simple. We need to make sure we put ourselves in the best position to have this be successful....correct pricing, solid buyer, complete information...but given all that, then the sale will close.

But you haven't made this decision yet. And most likely, you are struggling with this alone. No one wants to talk with a neighbor about a financial set back. But you do need to talk about it...and understand what makes your situation unique, so you can make the best decision for you and your family.

Real Estate is a funny business! It's an intensely personal business!

We are caretakers of people's homes. That's a huge responsibility. The home where you baked holiday cookies and celebrated children's birthdays. Where you hosted barbecues and wedding showers. And now you are considering a short sale on this special place. You need to talk!

I can tell you the obvious, that the memories have very little to do with the location of the events, but with the people that were there! Most of us have lived in many places over our lives, and I have great memories of my son's first steps which were taken in a small apartment (because that's what we could afford then). I don't have any memory of the dark alley I had to walk through to get there. But this perspective might not come until later....and that's ok.

What you need to determine is if this is the right decision for you. And speaking to a Realtor® is one step in that process. You might also speak to family members, CPAs, bankrupcy attorneys...and even (most especially) your lenders. There are steps to take before you put that lockbox on your front door.

I'd like you to know that we understand....and any solid real estate agent will gladly speak to you without pressuring you to list the home for a short sale. If you do call someone who offers you that as the ONLY solution, run!

When I meet with a potential short sale client, we discuss loan mods, family loans, property values and market trends. I bring comps with me so we can see exactly what the value of the home is right now...and where it might be going. What many people do not realize is that often a short sale happens because of a loss of income, and not necessarily because someone is seriously upside-down. That is a great opportunity for a loan modification....perhaps a short term rate reduction would be enough to allow you to stay in the home. We can talk about that. And I do NOT charge for my advice (maybe you might say I charge what it's worth....$0) but just talking things through can help.

So....since Realtors® are sales people.....why would anyone encourage someone to not list their home? Because we are community members. We thrive based on our reputation and character. A fast "wham bam, thank you ma'am" sale might put a bit of cash in the bank today, but over time, that becomes your sale model and the community will not reward you with referrals. That's how we create the name that endures for the long run.

Talk to a Realtor® and if you are not in my area....call/email me for a good referral in your area! Talk things through and then make the best decision you can. We are here to help....we are community members also and we do understand.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Holly Weatherwax 11/21/2010 11:49 PM
  2. Gene Riemenschneider 11/23/2010 05:09 AM
Topic:
Real Estate General Information
Location:
California Orange County Mission Viejo Canyon Crest
Tags:
mission viejo realtor
short sale listing agents
mission viejo california
orange county short sale listings
orange county short sale listing agents

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Rainmaker
631,269
Nancy Conner
Olympia, WA
Olympia/Thurston County WA

Karen - this is such excellent advice, especially because your genuine caring for people & your community shines thru brightly!

Nov 21, 2010 04:16 AM #1
Rainmaker
320,383
Dan Jasmer
Coldwell Banker Residential Real Estate - Sarasota, FL
Changing the way you look at real estate

Excellent post Karen.   I have advised a few clients not to do short sales.  It's not always in their best interest.   Sometimes we need to direct our clients to a real estate attorney or CPA for more guidence.  If they decide that a short sale is best, so be it.  We're here to help. 

Nov 21, 2010 04:18 AM #2
Ambassador
1,550,527
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

I almost called this post "Realtors® are people too" I hate that people who could really use our input are afraid to call us because they think we will somehow talk them out of their home...and it's just not the case. We will reap what we sow....and we can help.

Nov 21, 2010 04:22 AM #3
Rainmaker
415,162
Tni LeBlanc, Realtor®, J.D.
Mint Properties, Lic. #01871795 - Santa Maria, CA
Tenacious Tni (805) 878-9879

Good for you.  I hate to see anyone lose their house.  Sometimes people are literally in tears when they finally make the call to me.  I always try to make sure they've explored every avenue to save their home.

Nov 21, 2010 04:37 AM #4
Rainmaker
5,186,316
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Karen.....what goes around, comes around....give people the right advice and direction, and it will come back to you in the future.... a family listing their home when there is a saving grace for them is a sad situation....just as all those families who bought with assumable mortgages and then were not able to refinance after being told they could.

Nov 21, 2010 05:34 AM #5
Rainer
148,368
Harry Logan
RE/MAX executives realty - Winnipeg, MB
Your Satisfaction is Guaranteed!

Great Advice from a True PROFESSIONAL!

Thanks Karen!

Nov 21, 2010 08:27 AM #6
Rainer
332,782
Irene Kennedy Realtor® in Northwestern NJ
Weichert - Lopatcong, NJ

Karen,

I love how you remember that these folks are our neighbors. All families face tough situations now and again and sometimes our neighbors can and do help.  Hats off to you for sharing your expertise - for free - with those neighbors facing hard decisions.

Nov 21, 2010 09:04 AM #7
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3,683,001
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Karen, it's clear that you are really wonderful at your job, and your clients are lucky to find you!

Nov 21, 2010 12:25 PM #8
Rainer
103,794
Amanda Nicodemus
Spring Texas Keller Williams Professionals - Cypresswood - Spring, TX
Spring Texas Real Estate www.amandahomes.com

Homeowners that are having financial difficulties are scared to lose their homes.  They may be embarrassed by calling a Realtor(R), or may even think that a Realtor(R) will only advise them to sell their home.  Your post will really help those homeowners that may be able to modify their loans and keep their homes!

Nov 21, 2010 02:51 PM #9
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Fran Gatti
RE/MAX Integrity - Medford, OR
Managing Principal Broker - RE/MAX Integrity

Karen,

Another fine post with good advice and relevant information.  What a difficult time it is for so many people.  It isn't a one size fits all solution to every homeowners situation as you've pointed out.  I have suggested each of my clients who have considered a short sale talk to their tax professional and a real estate lawyer.  It's a big decision with many ramifications depending on each situation.  Can you ever be over informed?

Nov 21, 2010 05:15 PM #10
Rainmaker
1,431,531
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

This is a very good post.  Not only do I suggest it I am reblogging it.  Thank you very much.

Nov 23, 2010 05:04 AM #11
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Karen Fiddler, Broker/Owner

Orange County & Lake Arrowhead, CA (949)510-2395
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