Short Sale Tip #10 Overcoming Objections with the Homeowner
February 29, 2008
Short Sale Tip #12 Overcoming Objections with the Homeowner Part 1
We are getting many questions from our attendees as to how to overcome objections with the homeowner, but we are surprisingly getting MORE questions as to how to overcome objections from the inexperienced or uneducated agent representing the homeowner…isn’t that a twist? Read more
Real Estate Radio USA Episode 70
February 29, 2008
Barry Johnson…
Today on the show we talked with Pat Kitano from Transparentre.com and talked about what is going on with blog networks. We also had a chance to talk about a number of news article including news from Beb Bernake from the Fed. That an we read a NAR study that tells us 22% of homebuyers are now single women. Read more
Real Estate Radio USA Episode 70 [112:34m]: Play Now | Play in Popup | Download Pat Kitano from Transparentre.com [28:37m]: Play Now | Play in Popup | DownloadReal Estate News This Morning - February 29, 2008
February 29, 2008
The Morning Review of Today’s Top Real Estate Stories
Get your cup of coffee and settle in with this morning’s top real estate related stories right off the newswires! Read more
Short Sale Tip # 9: The Role Of Mold In Obtaining A Big Short Sale Discount
February 28, 2008
Short Sale Tip # 9: The Role Of Mold In Obtaining A Big Short Sale Discount
Ever see a really good horror movie? Want to see one? Check out the bill or quote you will receive for black mold remediation. Read more
Real Estate Radio USA Episode 69
February 28, 2008
Barry Johnson…
Today we spoke with Teresa Boardman, one of the real estate blogospheres’ leading writers, about her blogging experiences. Also, more news for Freddie Mac, the LA Times, and the study about the impact of urban centers on suburban neighborhoods. That and another “short sale expert” on today’s episode. Read more
Real Estate Radio USA Episode 69 [111:06m]: Play Now | Play in Popup | Download Teresa Boardman from StPaulRealEstateBlog.com [25:31m]: Play Now | Play in Popup | Download2007 Foreclosure Report
February 28, 2008
On Feb. 13th, 2008 RealtyTrac released it’s year end 2007 Metro Foreclosure Report. I found it interesting enough to highlight some of it on in My Blog because I believe these stats affect each of us on some personal level. None of us are immune or isolated from the current global economy, which is a direct result of the mortgage market mess we are in. However, we always have opportunity. Read more
Hey Short Sale Expert…Do You Have A Good Lawyer?
February 28, 2008
I was reading a post on my favorite real estate social network and the writer was stating something I hear quite often. That you need to be very aggressive in making sure the bank does not reduce your commission. In fact the writer of the post I mentioned said: Read more
Real Estate News This Morning - February 28, 2008
February 28, 2008
The Morning Review of Today’s Top Real Estate Stories
Get your cup of coffee and settle in with this morning’s top real estate related stories right off the newswires! Read more
Looking for Big Bucks for Real Estate
February 27, 2008
This week I bought a nice little ranch home. It has not been my biggest deal but it will make me a tidy little profit and it gave me an education at the same time. Here is how it went.
This was a bank owned property that the listing agent had a pre-signed contract done prior to it being posted on the MLS.
Fortunately the Bank has a 72 hour rule from listing date before reviewing contracts. Another offer came in through my office (different agent) with a financed offer.
Client has great credit (720 scores), sufficient money down with cash reserves and doing a FHA 203K mortgage with 45 day closing. Contract price was $41,000.
I thought this was a pretty good price as the “As Complete” value is $85-90,000. The 203K repair estimate was $14,000. I wanted the property but I didn’t want to get into a bidding war with a company client.
I decided to put in a “low ball” offer of $37,000 cash. Actually it was coming from a Line of Credit per my “Proof of Funds Letter” and a 30 day closing.
To my surprise the Bank took a cash offer 10% less than a well qualified offer with financing. Does this happen all the time? I am not sure, but as the foreclosure and short sale market starts getting more and more competitive, cash will once again become King!
So whether you are a principle or an agent, finding where you can get a good Buck when you need it should be top on your list. If you are looking in Buffalo or Niagara County for Real Estate financing or sales, give me a call, because in this area “the Buck stops here.”
Short Sale Tip # 8: The Role of Loss Severity In Short Sales
February 27, 2008
Short Sale Tip # 8: The Role of Loss Severity In Short Sales
Do you speak “banker-ese”? If not, you are leaving HUGE amounts of money on the closing table! When performing a short sale you have to be sure that you are negotiating from a position of strength. Do you know what Loss Severity is? Read more
