Joann,
By now you probably have more information than you could ever want about the buying process. In the event you have any specific questions that have not been answeres, it is sometimes helpful the hear another persons perspective.
Please feel free to contact Susan or myself.
Good luck,
The "Eckler Team"
Century 21 Almar and Associates
Venice, Fl 34285
ecklerteam@comcast.net
941-408-5363

Mon May 12 2008, 13:21

Short sales are a great deal if you have the time and patience. Frist is the offer, then the time ( it can take anywhere of 60 to 180 days to see if the current lender will except your offer and the seller will go along with the lenders terms. If it is an investors (short sale) most of the time the lender will want them to pay the defficeient balance or will send the seller a 1099 at the end of the year. If your sale is a homesteaded property the lender will most likely release the buyer of the defficent balance. These are the best short sales to go after, but like I said it takes Time, Time and more Time!

Thu May 8 2008, 15:43

Hi Elaine,

I'm afraid that such an advertisement for your services is not permitted on Trulia Voices. Please review our Community Guidelines located at http://www.trulia.com/guidelines/ and check out our Agent Best Practices blog post at the link below for more helpful information.

Best Wishes,

Leslie Taylor
Trulia Voices Moderator

Tue Apr 29 2008, 12:51

I didn't know that personal attacks were allowed here. Who is this Real Estate Myth Buster? No name or email? I know Lloyd Nichols and he is a very knowledgeable Realtor. Additionally, he attended Harvard, has a lovely home on Fort Myers Beach and a nice family. Sounds like Myth Buster is a frustrated, petty and jealous human being.

Sat Apr 26 2008, 09:30

I highly, highly suggest to steer clear of short sales. As a real estate investor, I have tried buying various short sale properties and have only experienced bidding frenzies and higher than anticipated selling prices. This benefits the sellers and the banks...not the buyers. Feel free to call me to discuss this topic more in depth.


Best,
Mark Palace, CEO/Founder
Palace Properties International, Inc.
www.PalacePropertiesOnline.com
321.773.5611
321.704.9305

Fri Apr 25 2008, 19:50

Hello Joan

First take a look at what these properties have been selling for in Fort Myers at my website http://www.napleshomepage.com/recent_sales_menu.htm

Listed are Sales for many of SW Florida communities
Most Recent Sales are shown first
To see details on recent home sales, select a community using the drop down menu below
Links are updated when changes are made in our MLS

Only viewable using Microsoft Internet Explorer Version 7 - Please allow POP-UP's for this site

Just call if you need help

Graham Ginsberg
Toll Free 888-222-2575 ~ Cell (239)404-4221
My website: http://www.NaplesHomePage.Com
REALTOR WITH SUN REALTY ~

Wed Apr 23 2008, 16:36

I have to agree with another agent that answered your question here. You need an agent that has training with short sales. Many times there will be multiple offers to the bank or the agent who has the house listed won't submit the right paperwork to ensure that you come away a winner. I have had several short sale deals fall through because the other agent doesn't have a clue on how to negotiate with the bank. You can also get a great deal in Ft Myers without going the short sale route, but if you have time and patience, buying a short sale is a great way to get a wonderful property at below market value.

Wed Apr 23 2008, 12:31

For more short sale info including necessary documents go tohttp:// www.foreclosuremillionaires.com

Wed Apr 9 2008, 07:18

I am selling my home here in North Fort Myers, FL however it is not a short sale, we are just relocating. Thought you maybe interested. Good luck which ever way or route you and your family choose.

Mon Apr 7 2008, 11:19

I think you can arrived to your own conclusion .i have seen people that really gave you good advice and at the end they was just asking you to hire them .
I just want to let you know that in this area there are lot of Bank Owned properties that once where Short Sales but know like the name said are Bank Owned and you dont have to wait for a Bank to answer you back becouse the agent have nothing yet on the short Sale or just start it or have no clue of what he is doing.
Once the Bank Owned you can get an answer pretty soon and you will get a good deal , same like a short sale or even Better.The bank already own the property and he want it out of his books("REO").they usually let it go between 75% to 82% of the actual market value and sometime even better.Hope it help and save you sometime on your next purchase.

Sun Apr 6 2008, 13:27

Wow Joann, that stream of answers does run the gamut! Not too many of them went right to your question of "how do we go".

The short answer is, make sure you select a realtor that has closed several short sales and has several in the pipeline to close. Ask for credentials. Ask how many listings do you have that are "short". How many have you represented the Buyers on, who negotiates with the bank, the Buyers agent, the Sellers agent, the Seller themselves, or a 3rd party.

If a third party will be involved, get their credentials and ask the same questions.

Agents steering you away from a short sale, may be doing you a disservice because of their lack of success. Trust me, short sales close every day. Interview the agents that are closing them.

A good agent will also interview you. They will want to know your timing, the type of mortgage you anticipate using if you aren't paying cash, when you will be in the area to make a selection, and see if there is a purchasing strategy that works for you, with the home you like.

Some short sales may be good candidates if you like the house, and some may not due to underlying issues. An agent experienced in short sales will be able to identify those underlying issues.

You see Joann, the short sale market can best be likened to the wild west. No rules, no standards, and the ones that do exist change daily. Only an agent that has documented short sale experience will be in tune with the trends.

The good news about short sales is they are driving the market. A property that is not a short sale is not likely to sell for more than a short sale property; if there is any sort of bank financing involved in your purchase. But, there aren't very many non-short sales available. There are many more choices in the short sale arena in certain parts of the Ft. Myers area. Don't let anybody steer you away just because it is short.

So, in summary, if you want to find the house you like, first find an agent you like. Have that agent provide you with enough listings that it makes sense for you to make a "buying trip".

Then narrow down the field, don't rule out traditional sales, and then make your offer on the one you like the best. Hint, in your offer, offer to pay for items that the Seller traditionally pays for as you may be in a competitive offer situation and you may not get a second bite of the apple you wanted the most. Ask your agent for guidance.

I will be happy to provide more strategies if you interview me and ultimately select me to be your agent.

The wild west atmosphere is a little scarey, but it is also quite exciting, so have fun and enjoy it!

Sincerely,

Tom Bernardo, Realtor, GRI
Keller Williams World Class Realty
239-560-6702

Sat Apr 5 2008, 15:05

And why, exactly, have you focused on acquiring a house via a short sale? Some buyers look for a house on a cul-de-sac. Some buyers want a house with a minimum of 3 bedrooms and 2 baths. Some buyers look for a house with at least 2 acres so their daughter can have a horse. Some buyers want a contemporary because that's the style they prefer. All understandable.

On the other hand, very few buyers specify they want a house with an address with a tree name (i.e., 123 Oak Street) in it. Very few buyers specify they want a house in which the seller is between the ages of 40 and 50. Very few buyers specify they want a home that was last sold in 1997. Why not? Because those criteria have nothing to do with the house, the value of the house, or the suitability of the house to the buyer.

Similarly, starting with the criterion of "interested in buying a short sale" makes as much sense as saying you want to buy a house which last sold in 1997 or that the street name describes a tree. It tells us nothing (and says nothing) about what you're looking for.

Okay, okay. Your point, I assume, is that you're looking for a bargain in Ft. Myers. Now, that's different. There are bargains in short sales. There are bargains in REOs. There are bargains in buying a house from a FSBO. There are bargains in buying properties listed on the MLS that aren't short sales. There are bargains in buying properties directly from owners...by walking up to them and making an offer. There are bargains in all of these places. To limit yourself to short sales is to eliminate a large chunk (maybe 50%, maybe 80%, maybe more) of the bargains that are out there.

Approach it this way: "My husband and I are interested in buying a __ bedroom, ___ bath in the Ft. Myers area for at least __% below market value. How do we go about doing that?" That'll get you where you want to be.

Good luck.

Sat Apr 5 2008, 12:15

Joann,

Are you knowledgeable about the short sale process? Do you know that you might not get a better deal? That you may have to wait for months to hear from the bank who makes the decision? I would suggest not limiting your search to this arena....
I am dealling with several people now who have deposits tied up and have waited for an answer for over 3 months, are you prepared to do that and miss another good opportunity?

consult a great agent in the area you want to buy who can give you all of your options. I would take Marlene "Myke" up on her offer and get a recommendation for a good agent that can help you sort through this process.

Good luck!

Sat Apr 5 2008, 10:28

Start by finding out which area you want to be in and we can go from there. If you have an interest in the southern portion of Lee county around the Estero area let me know and I will begin to send you some of these properties via email.

Sat Apr 5 2008, 10:25

I just closed on a short sale in Fort Myers. I am showing short sales every week. I would be glad to assist you. Please feel free to contact me.

Regards,
Lloyd Nichols

cell: 239-810-2980
Fax: 239-463-4826
home office: 239-463-5217
Active Rain Blog: http://activerain.com/blogs/lloydn
Website: http://www.mlsouthwestfloridahomes.com
Website Blog: http://ftmyershomesandgardens.blogspot.com/



LLoyd Nichols
Right Choice Realty LLC
6360 Presidential Court, Suite 4
Fort Myers, FL 33919

Sat Apr 5 2008, 09:47

The best thing to do is contact a realtor in that area. If you would like, I am part of a national network that can give you a referral to the top agents in the Fort Myers area, and if you contact me I can do that for you. Otherwise, contact a real estate agency in that area and start asking questions till you find one that works with short sales.

Sat Apr 5 2008, 09:41

You need to contact a Realtor and have them explain the process and search for properties that meet your criteria. Short Sales can be great deals but so many factors to look into. How many lenders are owed and the banks involved. I would be happy to help you if you are not already working with someone. You can contact me at 239-209-2237 or e-mail nancy.doyle1@comcast.net.
Have a great day,
Nancy

Sat Apr 5 2008, 09:41

Joann,

First question is are you looking at a home that you know about already? Secondly I would find a local realtor that is experienced in dealing with short sales and foreclosures. In a short sale you are working more with the bank then a home owner. Also depending on the institution and their mortgage there are certain addendums and other pa