Good grief!  Two notes..ok, I know it's going to be difficult, but so what?  Shorts Sales are never a slam dunk, and I've done so many now that that just didn't deter me. 

The first is with OCWEN, who have become much easier to deal with.  It's the second that have caused me problems.  Real Time Solutions..aaargh!!  So vague, and so not interested in making things…

I've been doing Short Sales here in the Palm Springs Valley for many years.  2013 saw a dramatic fall in the numbers of Short Sale and Foreclosed properties come up for sale in  all our Valley cities, and 2014 saw the same trend continue.  Very good for the general health of our market!

I am currently working on…

I'm happy to report that the total number of Short Sales here in the desert have dropped dramatically since last year.  I just took a new Short Sale Listing today, and closed one last month, but as one of the deserts' most prolific Short Sale Agents, I can report that equity Sales are beating the pants off the Shorts!  And I'm happy about that!…

I haven't been listing nearly as many short sales this year. There are not as many upside down homeowners here in the Palm Springs Valley, and that's a good thing!  I have also become very saavy about which short sales have the highest percentage for a successful closing.

New La Quinta short sales coming up next week …

1.  North La Quinta single-family home in…

The Homeward Residential Short Sale that I listed, then got transferred to OCWEN has been quite straight forward.  OCWEN contacts responded to me when I informed them that I already had an offer with Homeward, and it only took about 2 weeks to get the offer uploaded into OCWEN. 

Took another 6 weeks or so to get final approval, but they did not counter at a hyper…

The transferring of servicers continues! Offer and all supporting docs and BPO done with homeward, and boom… Off to OCWEN we go! Resubmitting all docs and starting over. The short sale world continues to be full of obstacles even as I enter my fifth year of listing negotiating and closing my short sales. I'm so glad that the standard equity …

Palm Springs and the desert cities in general are seeing declining short sale listings.  Not just the numbers in listings, but also the prices have begun to creep up to closer to FMV.  Why?  I suspect there are several things at work here...

1.  We are a resort town.  By that I mean, there are many buyers wishing to own in our winter wonderland and so very few…

Only TWO closes left to accomplish in 2012. 

One with GMAC who used to be so easy.  Single family home in a 55+ area of Desert Hot Springs, CA.  Then they hired a Negotiation company, who fouled up the deal and then the Investor, FNMAE pulled their usual, "If you can't get me this much money..forget it!"  OK..the buyers did forget it!  I presented them the…

This cute little house was listed, negotiated, and CLOSED in less than 90 days by your Palm Springs Short Sale Specialist!

Primary home and the Sellers were relocated.  One note with Chase, and the negotiator was good; meaning she responded relatively quickly.  The closer dropped the ball a couple times,…

This Bank of America Short Sale was difficult not due to the Lender..but rather the Buyer!  A real lesson in why a Short Sale Buyer should always use a local Lender for their loan.  The Lender MUST know the local market and inventory.  But..I got it CLOSED…

Here in the Palm Springs Valley of California, the past 4 years have seen a pile of Short Sales listed and closed.  Unfortunately, there have also been some questionable methods to this short sale madness.  This article sums up some of the Short Sale fraudulent practices that are showing up more and more frequently.  If you are considering a Short Sale, be sure to use a list Agent that is experienced in your area and bone up on the Short Sale Law in your state.…

Palm Lakes Short Sale CLOSED!

Another Short Sale Listed, negotiated and CLOSED by the Desert’s Short Sale specialist.  This cute condo at Palm Lakes in Palm Desert was a B…

Short Sales are listed to be APPROVED, and that's just what has happened...again here in La Quinta, California.

5255 Avenida Obregon, La Quinta, CA. 

Primary Residence with one note with Chase.  Sellers were relocated for work. 

Listed and approved in approx. 90 days. 

Approx. Note value: $165,000

Approved at $135,000.  Not a huge write down for the Lenders, and they were…

I have to admit that I have not done any B of A COOP short sales before the one I am currently handling.  Not out of choice, it just seems that I don't get the Short Sale listings until it is long past a pre-approval situation.

This Seller, however, was only a couple months late and…

Short Sales are NEVER smooth.  Even the pre-approved by the Lender Short Sales, commonly called COOP (co-operative) with B of A, and varieties of that with Chase and a few other Lenders.  Even then..they have to get final approval by the Investors and all Short Sale List Agents know that can take some time...or only a few days!  Hey, you just never know.

After 5 years…

This is a good article about why the MERS system helped to create our current foreclosure crisis.

MERS issues in Foreclosures continue..

Short Sales are obviously being pushed by the Lenders because…

This La Quinta Short Sale was not a slam dunk.  Two notes with different Lenders, but still CLOSED in approx. 95 days.  I don't just list my Short Sales..I CLOSE them. 

81375 National Dr.  La Quinta, California   PGA West

First note with B of A:  Approx. Value of 1.4…

My reservations about B of A's COOP short sale program may be easing here in Palm Springs Valley of California.  The only drawback I could see was that the appraisals kept coming in over market, and that dragged out the Listing time.  However, there are reductions scheduled for every 21 days so with this Short…

Cute as a button, remodeled, 1bd/1ba Condo coming up at Palm Lakes in Palm Desert, CA. This short sale is a COOP short sale with B of A. That means that the List Price has already been approved by the bank and the close will be quicker than with a standard short sale.

Palm Lakes is a gated community of Condos offering a clubhouse, 2 tennis courts, community pool and lots of lush, green common areas..all for $225/month HOA fees. This particular unit is in a great location on the second…

This short sale was a bit involved, but I received final approval yesterday on the B of A first lien.  I already have the approval for the Chase HELOC, so we are into Escrow and roaring to a close.  Interesting how I waited weeks for that final Investor approval, (after accepting their counter), and once it came through, they gave us..wait-are you ready????  8 days total to…