Last year I predicted that Palo Alto will see more short sales in the future. Well, the future is now so what is happening? There are currently 2 short sales on the market, 5 in escrow, and 6 closed in the last year. This isn't a huge number, but certainly more than we saw in the early part of the century. There's a lot of chatter in the media about how the government is giving banks and homeowners incentives for short sales, and how banks save money by allowing short sales, but does that… Continue

The person who negotiates with a lender on behalf of a homeowner needs a license, either under NRS 645 or NRS 645F. In the case of a real estate licensee who maintains a license under NRS 645, that licensee must be part of a real estate transaction with the homeowner. Any other person - even an unlicensed assistant in the brokerage office - who negotiates with the lender would fall under NRS 645F, and needs a license from the Mortgage Lending…

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http://www.kickstartcart.com/app/?af=1214946

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This informative post is re-blogged from Partner First, an online real estate network with resources for buyers, sellers, and agents. This post was written by Jacob Swodeck, and published on his Partner First affiliated blog.…



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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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As of this writing, there are approx. 4,389 short sales for sale in the Las Vegas area, this includes, resale single family homes, condos, townhomes, of that approx 3,443 of them are single family homes.

There are approx. 11,756 short sales that are in escrow under contract/pending in the Las Vegas area.

Total short sale closings year to date in the Las Vegas Valley area are approx.…

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I would like to start a movement with BAC. All their approval letters should include the following:

Buyer (insert buyer's name from contract). **Replacement buyer subject to BAC approval.

Now wouldn't that eliminate being in escrow 3 to 4 to 5 times - assuming net to BAC was the same and no change in close of escrow date?

I say that while having 6 short sale escrows with them, and 3 approved - but it's absolutely pulling teeth and insanity.

If a home owner has filed chapter 7 how do I get them off the fence for doing a short sale they are telling me since they have filed chapter 7 they can walk away free and clear so why would the want to do a short sale? What are you guys doing with chapter 7 homeowners?

Short Sales in the Inland Empire; Price Points are rising.. I have been watching the numbers, walking the homes, studying the comps and exactly what I felt would happen this year is indeed happening. The high end golf course communities and custom homes are seeing Short Sales and REO's. This is a new phenomenoa for my area of the Inland Empire..Palm Springs, Palm Desert, La…

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Pardon my "newness". I have been trying to avoid short sales and now have given in to the reality that they aren't going away. So, I have been researching short sale agents in my area and have run across this statement on a couple of websites:

4. WHY WOULD I USE YOU TO HELP ME RATHER THAN MY RELATIVE THAT ALSO HAS A REAL ESTATE LICENSE?

Most banks will not stop the foreclosure process and start the short sale process until you have an offer on your home.…

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Distressed Properties: Listing Short Sales: Mindsets and The Short Sale Process w/Melissa Polce

Wednesday, April 28, 2010

1:00 PM to 3:30 PM EDT

Training Room, Cornelius



Chapters 5 & 6 from the Distressed Properties Handbook:



Listing Short Sales course materials will be covered.



You will learn:

* Know lenders' and Asset Managers mindsets and motivation: Understand where the ultimate sellers are coming from--why they do what they do and… Continue

Short Sale Primer For Brokers, Sellers and Buyers…

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As the tax credit deadline of contracts signed by April 30th with the close of escrow deadline of June 30th, we are starting to see a lot of questions again about whether or not a buyer in the market now can still take advantage of the Home Buyer tax credit. Here is a post on Trulia bringing up this question.

My…

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Started one on Equator first part of December. Seemed plausible. Then went to HELD status.

Called in several times in regards to HELD status.....Customer service reps kept saying all looks good, yes we have everything, negotiator is working on it....

NOD had been filed unknown to me when I took the listing. Nothing showed up in Foreclosure Radar. Title company did not see anything. (Seller forgot to tell me the letter came in after I put on MLS) OOPS!

In…

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Today marks the 1 year anniversary of President Barack Obama signing the American Recovery and Reinvestment Act. For the past 365 days, the purpose of this stimulus package was to take our hard earned tax

dollars to stimulate the American economy. Part of the package went

towards items such as a 2.6 million dollar solar panel system for the

Denver Museum of Nature & Science, which by the way, has over 90

million dollars in their bank account. Another $25,000 went to…

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Our BofA negotiator has told us the file won't move forward until we get a Fannie Mae appraisal. We've already had a BPO done but they now need another appraisal done by a Fannie Mae appraiser. When asked when that will be scheduled they told us they don't know when but they will get to it when they can. In the meantime, the file sits. Anyone have a contact for us to help get these Fannie Mae appraisals scheduled?

Just a quick note to make aware some who may not be in the know. There is a television marketing campaign for loan modifications that is currently being shown nationwide. It touts interest rates as low as 1% and offers homeowners help with loan modifications. The extremely fine print at the end of the commercial states the truth but it is only on the screen for a brief moment before disappearing. The truth is that the commercial is for a 3rd party referral service that takes an upfront fee and… Continue

This is just a follow up to my recent blog from a day or so ago.



I had mentioned in my previous blog the Temecula BPO where the occupant did not have keys to the four children's bedrooms upstairs. I contacted the agent and she rescheduled an appointment for me again this morning at 9:00 a.m. All I needed were the 4 pictures since I had already taken all the other necessary pics previously.



Well, i arrived right on time. knocked on the door, rang the door bell and no on… Continue