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…
ContinueAdded by Kimberley Kelly on July 31, 2011 at 2:09am — No Comments
Here I am in beautiful West Vancouver, BC. I was here last year with clients/friends, but in the Northern Vancouver area. Both are gorgeous. As I did last summer, I am experiencing the other side of the Palm Springs, Calif. real estate reality.
No Short Sales!
Strange, but true. The Banks here are regulated,therefore, no unregulated run up of property value..just a steady, gradual rise. Now, the Vancouver market appears to be blazing along. In fact, at a…
ContinueAdded by Kimberley Kelly on July 24, 2011 at 2:30am — 1 Comment
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…
ContinueAdded by Kimberley Kelly on July 22, 2011 at 3:30am — No Comments
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…
ContinueAdded by Kimberley Kelly on July 20, 2011 at 11:19am — No Comments
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…
ContinueAdded by Kimberley Kelly on July 18, 2011 at 2:00am — No Comments
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…
ContinueAdded by Kimberley Kelly on July 12, 2011 at 2:35am — No Comments
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,…
ContinueAdded by Kimberley Kelly on July 6, 2011 at 12:58pm — 1 Comment
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…
ContinueAdded by Kimberley Kelly on July 1, 2011 at 5:50am — No Comments
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