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…

This past week, I got an ING Direct Short Sale to closing.  Getting there was full of directives from ING Direct that every Short Sale Agent in this country should be aware of.

For starters, our contract had the Buyer requesting closing cost help from the Seller.  After reviewing the contract, ING Direct, as the Short Sale bank, determined they wanted more money in the sales price and that there would be no closing cost help to the Buyer.  Since my…

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…

Short Sale in Indian Wells, Calif......APPROVED!  Just received my approval letter yesterday on this one.  From List to 8/15 COE will be approx. 120 days.  It is intriguing to me how some Short Sales sail along and others..seemingly very similar to my eyes, get stuck.  This one is a vacation home for my Seller.  He has two loans with Bank of America.

Primary Loan:  $417,000 due

Second:  $206,000.

APPROVED Sales Price:  $465,000. 

I wrote…

Los Angeles, CA – Just in, Governor Brown, signed into law today, SB458. This law will be written in the California Civil Code Procedures under CA CCP Section 580(e).

Get my Free, Step By Step Loan Modification Guide by clicking here.

What this law states is that if a homeowner does a short sale, where…

Bank of America Short Sales Made Easier?

Bank of America just announced a change in its short sale program that may make Bank of America short sales just a little easier.

Until today, if Bank of America short sales were entered in Equator and then a buyer walked, the whole short sale process would have to start all over again. Even if the new buyer made exactly the same offer, the process had to start all over…

Short Sale pricing is a key..  to a successful closing.  Setting a correct price is a skill that comes with experience.  There is more involved than simply running comps.  With a Short Sale, the Lender(s) involved and the months delinquent on the Seller's part have to be figured in.  The condition of the house, HOA delinquency, repairs required, examination of comps for Short Sale % pricing.  Do I need to establish a Property History?  Is…

What????  Yes, first time in 5 years of doing loads of Short Sales with different Lenders, different types of Sellers, various emotional situations..pretty much everything I thought....

Retired Broker who was not representing herself, but did insist on showing her property herself.  Yikes..alarm bells should've gone off.  But..she was referred by a friend, and really, how bad could it be???  Primary residence, condo, well kept, only one loan with Chase.  Slam dunk,…

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…

Los Angeles CA – I recently received an e-mail from another real estate agent. They were asking for our advice on a short sale.

They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government

 …

Los Angeles California Real Estate | Short Sale Specialist | Short Sales in Los Angeles | Short Sale Los Angeles| Los Angeles Loan Modification:

I have a Realtor friend that works out of Pasadena California that recently was fired by her seller because of this letter. Chase told the…

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Los Angeles CA –Wall Street Fat Cats say…

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Helping Homeowners…

Ahhhhhhhhh!! The joys of working and processing short sales! Some of you Super Stars may understand the motive for today's post. Others may just be on the other end of my message. I love short sales. No, I mean I truly enjoy the art and skill necessary to do this amazing…

Helping Homeowners avoid foreclosure! I provided FREE California Loan Modification Help and Short Sale Assistance for distressed homeowners!

Los Angeles, CA – I’ve seen lots of creditors/collection company's use illegal debt collection techniques and…

From January to February prices fell 1.6 percent on a seasonally adjusted basis, according to the monthly House Price Index published by the Federal Housing Finance Agency.  The previously reported 0.3 percent decrease in January was revised to a 1.0 percent decrease.  For the 12 months ending in February, U.S. prices fell 5.7 percent.  The U.S. index is  18.6 percent below…

Glendale, CA Real Estate – I see a lot of agents making mistakes on short sales property valuation. Lenders hire a supposedly impartial third party to value the property.

Many of these people are…

Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!

I just received short sale approval from Wells Fargo in 26 days!  It was a total of twenty six days from when the short sale application was submitted to the lender until I received the short sale approval letter in my email box.  So much is written about the bad short sales - the ones that drag on for months at a time - that I thought I should…

Have been working with the bank that holds the first mortgage for quite a while and have an awesome relationship with the asset manager.  He has promised a 48 hour response on all contracts submitted for this 3 - 4 bedroom Colonial home for sale at 461 Thomas Street Phillipsburg NJ…