2011 has turned out to be a good year for my HAFA short sales. They seemed to move along quicker, so maybe that idea of "stream lining the HAFA process" has actually hit the Lenders.

This was a gorgeous little condo in Indian Creek Villas, in Palm Desert, California. Great location off of Hwy 74, which crosses the mountain from our desert floor over to San Diego. A short distance above our premier shopping area, El Paseo, (the deserts' Rodeo drive), and Hwy 111 is 5 minutes away. Hwy…

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La Quinta, California Short Sale CLOSED!  Listing to Recording in less than four months..and that was after first position Buyer walked!

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• SHORT SALE…

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ANOTHER SHORT SALE CLOSED; Indio, California   This one took some fancy footwork, but got it listed and closed in less than 90 days..whew!

Sellers came to me two weeks before Sale Date end of August.  There was a tenant in the house, and they would not allow entry to Buyers..so "contingent upon Inspections" was in…

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HAMP CHANGES ARE COMING...but will they help???  It's hard to say, but probably not much!  If you have a Fannie or Freddie backed loan, are current on your payments for the past 6 months, you might apply again.  The % your property may be underwater is being relaxed, the time line extended to 2013..so if you're one of these borrowers, why not give it a…

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Interesting that they were last minute listings here in the Palm Springs, CA area.  One in North La Quinta and the other in West Indio..both had Sale Dates set of approx. 21 days out.  Both Sellers had been denied Loan Mods and were at wits end and OVER the banks!

Chase has always been tough for me,…

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Short Sale Sellers; Check your Listing Agents' References! 

Had a listing appointment last week with a potential Short Sale Seller.  He is only 30 days delinquent and his property is spectacular..truly stunning.  The Location is very questionable for a home of this magnitude…

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Palm Springs, California had some interesting sales statistics for June, 2011.  What intrigued me is that my own Sales number almost directly reflect what the CDAR report states..my own business is running almost equal between Equity Sales and Distressed Sales.  The Equity Sales seem to be in the higher end, which means that median number they always throw around should be going up..if other Agents are seeing the same thing I…

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Closed another Short Sale in Rancho Mirage, California.  Recorded yesterday for $265,000.  Bank of America notes at approximately $485,000.  

 

My Seller is a lovely woman who LOVED this condo.  She and her husband spent many happy years there.  Her husband died a couple years ago, and it just became too emotional for her to live there.  Emotional as well as expensive.  She finally gave in and decided to short sale it with me. 

 

My Buyer is a Canadian who was…

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It really doesn't matter how experienced you are as a Short Sale List Agent. It doesn't matter how many CLOSED references you have..again as a Short Sale List Agent.  When it comes to approval, it is a complete crap shoot with the Negotiator holding all the dice.

I can tell from the first e-mail exchange, and often phone conversation if they won't e-mail, whether or not I am dealing with a sane Negotiator. 

The WORST negotiator I have ever had in the past 5 years was a Chase…

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If you like the rush, the careening highs and crashing lows that makes your Adreneline course through your veins like you've being chased by an unknown intruder..try a Short Sale!  What a rush!  What a ride!  Kind of like a huge roller coaster zipping along....up, then down..back up, then down..yippee!

 

Even if you're a list agent used to the…

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Two loans..each with a diffferent Lender.  I have received BOTH approval letters.  COE is 5/27.  Buyers' money in the bank, inspections done, buyers on their way to Palm Springs..BOOM!

My cell rings..

"Hello, this is Kim"

"Yes, Kim, this is Bob, your closer for your loan #______"

"Hey Bob, great to hear from you!  What a surprise!  We're all set up…

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It's one thing to list a short sale and then hand it off to a negotiation company.  It's another to handle it yourself, keep your Seller and also Buyer's agent updated weekly, and then follow it through to a successful CLOSE!  I can do that for you!

 

To view my current listings and their status for the first quarter of 2011, please visit my…

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Part of rebuilding New Orleans caused residents often to be challenged with the task of tracing home titles back potentially hundreds of years. With a community rich with history stretching back over two centuries, houses have been passed along through generations of family, sometimes making it quite difficult to establish ownership. Here’s a great letter an attorney wrote to the FHA on behalf of a client:



You have to love this lawyer……..



A New Orleans lawyer sought an FHA… Continue

Is there a HUMAN at Freddie Mac? As one of your largest investors, (80% of your stock I believe?), I was so hoping for some help with one of my Short Sales. Your CEO's have apparently decided that CHASE is a good investment as a "servicer" of a bunch of those under performing loans that I, and all of my tax-paying fellow-investors, are now holding the bag on.

I am challenging that decision.…

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Short Sale Team added to HK Lane Real Estate. Envisioned by owner, Harvey Katofsky, Broker Ron Gerlich and Real Estate Attorney, Paul Bojic, the idea is a "One stop team for Short Sale advice." Two Listing Agents, Kimberley Kelly and Ally Valesquez will be working with them, as well as a Short Sale negotiation team…

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Short Sales reduce numbers of strategic defaults..

Since beginning my short sale career when this mess in the Coachella Valley, CA took hold years ago, it has been my mantra that the Lenders do NOT want to be truthful with their shareholders regarding true values of their housing assets. Now, I am seeing this very idea in various media outlets. I still believe…

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