In the World Of Northern Virginia Short Sales, Things Are Not Always As They Appear

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Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

In the World Of Northern Virginia Short Sales, Things Are Not Always As They Appear

As I sit at my desk crunching on dehydrated and salted vegetable chips, I'm wondering if I am getting the same benefit as I would eating a fresh vegetable.  They look like carrot, radish and squash slices with a few string beans thrown in, but they are vegetable shaped air. Yet, somehow I feel like I'm making a healthier choice by snacking on them. I'm sure it's a tad bit healthier than potato chips.

Northern Virginia Short Sales can be deceiving creatures too.  You can be a home owner with a financial hardship that seems like a slam dunk.  The first trust can be on board and issue an approval letter that practically shines it's so favorable.  But at the end of the day, if you are working with a second trust that doesn't negotiate, so much as attempt extortion, you'll be left wondering how you ended up in foreclosure.

Short Sales are not a guarantee for anyone, but if you are working with larger banks like Bank of America, Wells Fargo, Citibank, HSBC, Chase and so on...your chances of getting what you expect increase.  If you tell your Short Sale Agent who your lenders are, particularly your second trust lender, and they say, "Who?"...you may be in for a surprise.  Financial hardship means nothing to some of the no-name smaller banks.

If you want to know what you may be facing by selling in a Short Sale in Northern Virginia, give me a call.  As a Northern Virginia Short Sale Agent, I've been on the ride so many times I'm immune to the dizziness, nerves or associated churning stomach.  Now speaking of stomach...I think it's time for some food that I can feel hit my stomach. These veggie chips aren't cutting it.

Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

 

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Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Chris Ann....you are the go-to agent for short sales, for sure....

May 10, 2011 01:21 PM #1
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

I had an agent call me today on one of my short sales and when I said the lender was USAA they said WHO?  You've got to be kidding me you've never heard of USAA?  Next.

May 10, 2011 01:36 PM #2
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
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Chris ..You certainly know your stuff

Cindy..That is a good one..Thanks for the chuckle

HelpfulHannah

May 10, 2011 02:32 PM #3
Rainmaker
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Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

Chris Ann, those vegetable chips look as weird as some short sales.

I'm sure if anyone can make short sales un-weird, you can.  I read your post yesterday (or the day before?) about the second lien holder wanting more than they can possibly get even if they foreclose, plus all your commission except ~$135.  Have some gooey chocolate ice cream, not veggie chips.  I would.

 

May 10, 2011 06:05 PM #4
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Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Chris Ann, what drives me nuts are the 2nd banks on the mortgage. They hold out for a few thousand and it boggles my mind since they will get NOTHING if the home forecloses. The first bank is priority.

May 10, 2011 11:37 PM #5
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June Tassillo
Owner/Broker RE/MAX Elite Realty - Franklin, NC
Let me help you with the next phase of your life!

Chris Ann ~  I give you a ton of credit for knowing so much about Short Sales and working them.  I have not done too many and only a success with a few.  Thanks for blogging about them so I can learn more from you.  

May 11, 2011 01:31 AM #6
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Barbara:  Even the agents like me that specialize in them have those cases that we just can't close. A second trust gets it in their head they deserve something that just can't materialize.

Cindy:  USAA is definitely not a bank anyone should be saying that to.  Real Time Resolutions.  Ocwen.  Those are great examples where WHO? applies perfectly.

Hannah:  That was definitely not a Buyer's Agent that has  seen much action.

Lloyd:  Swung by Cupcake Heaven for a chocolate cupcake on the way to an offer presentation after that one.  Making up for it with the veggie chips.  They taste much better than they look.  Must be all the salt.

Jackie:  I heard another Short Sale Agent compare those second trusts to chop shops. The ones they do manage to cash in make up for those they don't.  I imagine their approach and attitude would change if agents would simply say no to allowing any commission to go out the window.

June:  There's certainly something new to learn every day.

 

May 11, 2011 02:56 AM #7
Rainer
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San Diego, CA

I actually doubt that they are a tad bit healthier than potato chips, especially with all that salt on them. Go with fresh fruit and vegetables, or unsalted nuts. I hear walnuts are the new health craze.

May 11, 2011 04:46 AM #8
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Russel:  I think I will.  In fact, a smoothie with fresh banannas and strawberries sounds good right now.

May 11, 2011 05:05 AM #9
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