Here are some current comments and trends which one of an industry lead online articles inspired some thoughts and feedback which you as readers repositioning your business strategies may find insightful to current local, regional, and national market conditions that we are tracking for our clients around short sales acquisition both one off and bulk asset acquisition.…

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Shame on these bottom feeders. Navy Federal Credit Union likes to brag about helping our "family". One of our borrowers completing a short sale finds the following actions were taken by NFCU without knowledge: Continue

Attention Realtors- Looking for Short Sale Seller's on or going in NJMLS or GSMLS in Northern NJ. If you are getting a listing contact me before you put the listing on the market on we will review the best path to get the property properly listed, under contract and positioned for a successful short sale in record time. Deal with a pro and see how much fun properly planned and executed short sales can be and quickly become a market leader in your area from the expertise you will learn by…

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Short Story: BOA approved my short sale after a lengthy process - CUT my & other agent's commission too. Buyer walked because he didn't like home inspection. Found ANOTHER buyer in two weeks for $10,000 less. Resubmitted to same negotiator last Friday with all kinds of estimates for repairs (per advice from Bryant Tutas - THANKS!!) GOT AN ACCEPTANCE OF DEAL LAST NIGHT!! Close in 2 weeks, MY OWN BUYER AND THEY PUT MY COMMISSION BACK UP WHERE IT BELONGS!! WOW! I almost feel like I'm…

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If you are considering selling your home Short make sure your listing agent uses a licensed Negotiator or better yet they do it themselves. Stay away from unlicensed or unscrupulous short sale third party negotiators. Someone who charges a fee to…

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Short Sale, Bank of America and the Squeaky Wheel

When I was a child I always heard "The squeaky wheel gets the grease" and today..I was the Squeaky Wheel. I have been working on a Short sale since November 16th. The sellers paid top dollar for the house $425,000 in 2005 and put $40,000 down.

In June my sellers had a 40% reduction in pay and the other was laid off. No question about the…

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My wife and my Real Estate partner got a call from the legal department of some company requesting that she must remove the term “Certified Short Sale Expert” from her website. It seems they have rights to the phrase. I removed it from her site… Looks like it just got a bit more complicated.…

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January numbers are in without any surprises. We did see a small holiday affecting the pace of closed transactions, however new escrows out paced December ’09. Buyer appetite is strong even with new FHA rules coming into play.



The big change in the Palmdale, Lancaster real estate market for 2010 is Short Sales are out pacing bank owned (REO). REO’s are running 26% of the core area, while Shore Sales are 30% and with “normal listing” at 44% of the total. We are projecting Short Sales… Continue

Short Sale Lost…maybe?

I represent the buyer in this particular short sale. The listing agent is well established, with a good reputation. The sellers elected to use the services of an attorney to negotiate the short sale rather than have their agent do it for them.

Our contract was signed on September 1 and as I understand it, the first lender actually came to terms fairly quickly. They allowed $3,000 to pay off the second lender, a small but not uncommon… Continue

Banks should hire seasoned agents as consultants to train bank personnel from the ground up. Cross train to ensure everyone is on board, especially when people go on vacation or change departments or move on to other banks. Out-of-state banks need to stop thinking properties are worth much more than they are by holding out for that ‘perfect offer’ that will never come. A universal short sale form packet should be designed for all banks to use – no more than 5 pages. Give a deadline of no more… Continue

I have a BOA Short Sale on a vacant piece of land that I have been working on myself.

The owners owed money to the HOA and our in house short sale specialist that I would normaly have working on this was told by her attorney boss that unless the sellers sign a waver and pay the HOA fees she had to stop what she was doing with the file. The attorney also handle the HOA and does the leins for them.



So of course I'm not going to let a good offer go South. I submitted and completted… Continue

I have been recently informed that Phase 1 can now take up to 15 days!! It has been a 10 day process.



So much for improvements and getting them closed sooner.



Phase 2 still up to 30 days.



I've noticed a lot of problems in the last 30 days at BOFA, negotiators disappearing, files being to new negotiators, negotiators not responding to emails or calls, saying short sales are open then saying oops not in the system, etc..



My recent negotiators for my Las… Continue

I originally wrote this post on Active Rain, "Presenting Multiple Offers to the Lender for Short Sale Approval" and was reminded today that there are still MANY out there who don't understand the difference between a short sale and a foreclosure! I actually heard on a local radio show, the commentor, who is a real estate agent, proclaim something like this, "And, YES, we present ALL offers to the bank and let them decide which one you (the seller) will work with!" Unfortunately, I could not… Continue

I have several past clients who have approached me about running with the short sales of their homes -- from package assembly to SS negotiation/close. Given the realities of the market right now being such that many fail to close in spite of the many hours the realtor puts in, I have two questions for realtors reading this:

1. is it pretty standard to be charging an initial nonrefundable fee to the client (homeowner) to at least cover my costs if it fails to close?

2. Are you… Continue

"I had the fortune to be part of your short sale basics webinar. I want to express my gratitude and appreciation to Wendy Rulnick and Broker Bryant sharing their expertise in a conversational setting walking us students through from start to finish of a typical Short Sale transaction. This webinar was filled with materials and information giving the most inexperienced the confidence taking on Short Sales.



Having participated in classroom environment, read, studied short sale blogs,… Continue