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Short Sales All Locations : Nationwide Real Estate Advice

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Showing results for Short Sales [Clear search]
Thu Apr 18, 2013
Ron Thomas answered:
Are you out of your cotton picking mind?
Do you think that a CONTRACT is nothing more than a piece of paper?
0 votes 6 answers Share Flag
Mon Jun 9, 2014
My NC Homes Team answered:
If they close at all you should anticipate the process taking 3-6 months
0 votes 12 answers Share Flag
Wed Apr 17, 2013
Kevin Cloutier answered:
Brittney,

Maybe you need to understand we are busy. Its not a lack of patience, but finding you what you want if your looking means acting on your part when its found.

Based upon your grammar above, I am not sure..... ... more
0 votes 11 answers Share Flag
Fri Jul 19, 2013
Keisha Mathews answered:
Hello,

With a short sale, your lender is looking for your inability to pay due to a financial hardship. You would need to be able to prove that you can no longer afford the mortgage. I don't believe that your additional properties would be taken into consideration. I could be wrong. However, I speak from my own personal short sale experiences. I have helped clients short sale investment properties because they were able to prove financial hardship - something in their financials had changed from the time the borrowers first qualified for the loan to current.

Ultimately the decision is your lender's (the investor's). My advice, if you can prove hardship, is to give it a try. You have a 50/50 chance.

Hope that helps.

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
"SAR Masters Club Member 2012"
Mathews & Co. Realty Group
@ Century 21 Landmark Network
keisha.mathews@century21.com
www.SheSoldItForMe.com
(916) 370-1803 cell
lic#: 01439130
... more
0 votes 10 answers Share Flag
Wed Apr 10, 2013
Myra Gouger answered:
Good luck finding it. Most of us have been looking for this type of home for clients for a long time. The competition is fierce for homes in this price range. You will have to go $10,00 or so over the list price to get the home. BTW: you will be competing with about 15 other people who will also be paying cash. ... more
0 votes 9 answers Share Flag
Tue Apr 9, 2013
Stan Trekell answered:
Brian,
I have worked with a fair number of military personnel who rotate in and out of Lawrence. Most choose to buy because nice rental properties can be scarce and rental fees are high in Lawrence. If you would like to email me at strekell at sunflower.com, we can begin an online search for your housing needs.

Welcome to Lawrence, you will love it here.

Stan Trekell
Realty Executives Hedges Real Estate
... more
0 votes 3 answers Share Flag
Sun Dec 22, 2013
Gail Gladstone answered:
Amy,

Different banks (the mortgage holder) manage short sales in varying ways and there is little that can be done to affect a change.

If the Listing Agent and the seller's attorney are familiar with the process and doing all they can to move it along, the rest is determined by the bank.

Hang in there. These unacceptable delays are the reasons why Realtors like to have back up offers; not all buyers are patient.

From my understanding, the banks are often interested in how their bottom line looks to their stock holders and closing too many short sales or foreclosures in one financial reporting time period is not necessary beneficial. This is just my understanding and may not be what is hold up your deal.

Please hang in there; be patient.
... more
0 votes 5 answers Share Flag
Thu Apr 11, 2013
Frederic Din answered:
HI Rick, thank you for asking your questions on http://trulia.com

I appreciate your question and agree that many believe the banks/lender/investors are holding foreclosed properties in inventory and may be slow to release them.

I can see this affecting properties only for a short term, I mean there is demand in homes for sale, sales prices are rising slightly ( I recently blogged about this and you can read more at http://blog.imperialvalleyreo.com) and interest rates are low, so home buyers can afford more home.

Locally there are some properties that are still vacant and are not on the market, I know as I inspect these for banks/lenders and investors, some foreclosure properties are being rented/leased back to the occupant or prior owner thus paying their rents to FannieMae or FreddieMac.

But back to your question, right now we are in a sellers market, I blogged about this same topic and touch base regarding a buyers market as well, you can read more about it here http://blog.imperialvalleyreo.com/?p=1517

I hope this helps answer your question and understand this, homes are a long term investment. Meaning, home values and prices will rise and fall, but ever so slightly either way, but if your goal is to hold/live in the home for more than 5 or 10 years, you should definitely see an increase in value, just as long as the buyers do not continue to tap into any equity that comes around and as long as the home is taken care of and updated.

Let me know how I can help you further, thank you.

Sincerely,
Frederic Din, REALTOR(R)
"Your Imperial Valley Housing Specialist"
CA DRE Lic #01274420
info@ivforeclosures.com

Call: 760-235-4885
FAX: 760-259-2037

View listings on the go
Info & photos on your cell phone
Text GOTO IVREO to 95495
... more
0 votes 5 answers Share Flag
Mon Jun 27, 2016
Cassandra M. Bickel answered:
Typically a lease is for a set price and time (For example $1000 a month for 12 months) and would require notice to move out and penalties for early cancellation to either party.

Whereas month to month is where either party can cancel the agreement with a 30 day written notice.

You will most often see the rental start off as a "Lease" and at the end if neither party gives notice, it automatically goes to a month to month.

Rarely will it start month to month unless someone is doing a roommate situation, renting a basement/garage or if someone is just looking for short term as in when a house is for sale.

Hope this helps,

Cassandra Bickel, REALTOR
... more
0 votes 6 answers Share Flag
Sat Feb 21, 2015
John Edmunds answered:
Rents are still low compared to 2007-08, but the are slowly recovering. As sales prices increase on homes in the valley you will see rental rate rise as well. There are thousands of rentals on the market but if repaired, rehabed, and managed right you should be able to rent the home in a very short period of time, 30 days or less. Of course market rent depends on what area of town and how well the home compares to other homes for rent. Demand is good in all areas new or old. John Edmunds, Realty One Group 702-373-9229 ... more
0 votes 3 answers Share Flag
Sat Jul 20, 2013
Jennifer Tramontana answered:
My suggestion would be to contact a loan officer (if you need a referral, I can certainly provide one to you) so they can tell you EXACTLY what you need to do in order to be able to purchase a home again. The other option you have is to purchase a property where the owner is offering owner financing, lease with the option to buy or land contract.
For more information, please feel free to call email me directly at jenandersonrealtor@gmail.com.
Thanks!
Jen Tramontana, REALTOR
Keller Williams Elite Western Branch
... more
0 votes 5 answers Share Flag
Tue Apr 9, 2013
Jim Olive answered:
Virginia...you used two terms ("assessed" and "appraised") that make me wonder if those were tax terms or real estate sales terms. If it was a tax appraisal or assessment, it has little bearing on market value. A realtor can help you identify the market value and a good list price. It sounds to me like you don't have many options. If you don't have and can't get the money to make the reonovations needed to make it livable, then you can't live there. That means you need to either sell it or walk away. Walking away, IMHO is a really BAD option and should be considered last. Selling it is better. I suggest you find a good Realtor and get the ball rolling. S/he can help you establish a list price and negotiate with the bank to approve a short sale if that's what's needed. Best of luck with your situation... ... more
0 votes 2 answers Share Flag
Sun May 18, 2014
Ron Thomas answered:
We have heard this senario hundreds, maybe thousands, of times in the last few years:
If the Bank says it will 2 months; it probably will be 5 months. I have seen a year!
Up to you: If you are patient and really, really want the house; then be patient.
If you will kick yourself for waiting for nothing, and miss out on the deals the next few months; then walk away.
Waiting for the Trustee Sale is not much better; it will 3-5 months until that is Listed too.
There are a lot of houses out there, maybe a better home and deal will reveal itself.
... more
0 votes 26 answers Share Flag
Sun Jun 23, 2013
marc jablon, new harbor realty answered:
According to prognosticators in our industry, the next downturn is not due until around 2020. As real estate agents, we tend to follow the trends, rather than predict them.

During the past year, we've watched housing prices in the area make gains from 9% to 27%. Prices increases of homes in Miami are close to the top of those numbers.

Home prices in Miami, as well as in most of the hot markets around the nation, are likely to increase with inflation, even if the market cools down a bit. However, unless more inventory comes into the market to meet the demand for homes, prices are likely to remain high based on the limited supply.

Typically, a six month supply of Miami homes equals equilibrium in the market. Right now, supplies stand at 4 months or fewer. In addition, large numbers of investors from all over the world feel that the United States is a safe haven for their cash.

Real estate, at the moment, is providing higher rates of return than just about anything else. Also, real estate is an investment that most people can easily comprehend.

So, for the moment, the Miami housing market is likely to remain hot, and prices do not appear to be headed down anytime in the near future.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com

To find prices of currently available homes in Miami, go to:
... more
0 votes 10 answers Share Flag
Tue Apr 9, 2013
Tracy Hoyt answered:
Shelby,

I would request contacting a property manager in the Clearwater area. Be honest with them and tell them the situation. As if they have homes, where owners will consider your circumstances. I would also expect to pay more for security deposits. If you would like a recommendation to someone please feel free to contact me at Thoyt @prutropical.com

Respectfully,
Tracy Hoyt
Realtor
Prudential Tropical Realty
... more
0 votes 1 answer Share Flag
Mon Apr 8, 2013
Jeff Mason answered:
If the owner is currently in a chapter 13 bankrupcy it can postpone the trustees sale for over 5 years. That is usually why a sale gets postponed over and over.
0 votes 5 answers Share Flag
Sun Jun 16, 2013
Jory Blake answered:
Yes! I specialize in this area of Real Estate and have published blogs ( http://riversidehomesales.blogspot.com/2013/03/moveuphomepurchaseriverside.html) specific to this topic.

In California, I utilize the CAR form LSA , Lease After Sale Agreement.
When properly executed, it creates a legally binding agreement for the proposed buyer to accept a specific amount from the seller to allow time in the property after the sale is recorded as well as who pays for other items such as taxes,maintenance , utilities,etc.

I have had much success and zero failure assisting sellers accomplish this. I would advise you to seek a listing agent who is skilled and proven in this area. If not done properly , there can be a lot of confusion and disarray.

I'd love to provide you a quote and more details!


Jory Blake
951.742.3751
... more
0 votes 11 answers Share Flag
Mon Apr 15, 2013
Michael Hammond answered:
What is the Listing Broker telling your representative, purelife9999? Would guess there has been some level of communication from BOA. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com

http://www.SellsRealty.org

http://www.city-data.com/

http://www.greatschools.org/
... more
0 votes 15 answers Share Flag
Sun Dec 28, 2014
Puneet Sachdeva answered:
Short sale and I specialize in those. There is lots of details involved. Feel free to contact me at 206-920-5555.
0 votes 9 answers Share Flag
Tue Apr 23, 2013
Javier Meneses answered:
There are several advantages to buying foreclosures. Typically sell for below market value, some need work so it's an opportunity to finance the purchase and remodel or rehab for below market value and get to somewhat customize the home to your liking and you also can close quick by avoid lengthy transactions compared to a short sale.

Some of the cons would be that as a buyer, you're very limited to what mortgage programs are available to you, you're subject to some serious damages depending on the property's condition, also tons of pressure by the bank who is selling the property when it comes to time frame allowed for financing. Another and probably the biggest downside would be the competition among buyers looking to buy foreclosures, that would probably like no other type of home in the market.


If my response was helpful, consider clicking BEST ANSWER!

Javier Meneses
Senior Loan Officer
NMLS #23130
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
jmeneses@snb.com
(516) 606-9648
... more
0 votes 3 answers Share Flag
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