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Should I list my house during the Winter months? I hear that question every year, and I say, "Yes!" One of the things that seems to happen in the cold months is that serious buyers come out and tire kickers take the season off in favor of the warmer months.

I sold two houses the first two days of January. It was cold, messy and dark. Both buyers looked at one house each (which they found online), and they immediately put a contract on them. The sales were close to list. Both homes were in good condition, vacant and ready to go. The clients were qualified and determined to buy.

I've had this scenario repeat itself over the past 5 years. Do people buy in the Winter months? Absolutely, and they tend to be prepared and very serious. So, when the question comes up about whether or not to list during the cold months, don't fret, just list. You may be pleasantly surprised at the results.

Doing a Short Sale in Portland

I do a good bit of short sales here in the Portland, Oregon area.  I want to share with you my experience working with Resurgent Loan Servicing. 

As of this moment, I only have one deal with Resurgent Loan Servicing.  I am supposed to get my short sale approval tomorrow at the latest.  Lets see.

So far this is how it went.

I got this short sale listing back in June 2013.  I had to discount the property several hundred thousand Dollars before I got my short sale offer.  The property is very nice but located in very specific enclave of 6 houses only.  So it is a tight neighborhood and very nice.  Great place to raise children.  All the neighbors.  This property was bought in 2008 for $1.1K.  I knew that although the property is desirable, I would have to discount a lot.  I got the property listed as soon as it vacated. By now, the roof is overgrown with moss, so is the patio, the swimming pool is green and the nice landscaping turned into a jungle.  So that is what I had to play with in this short sale.  Here is a link to the property info

PDX Experts Short Sale 1

I got my short sale offer in September.  The offer was from one of the neighbors' brothers.  He and his wife are salivating over the property.  So they made an offer with 30% down with me as their agent too. So I am dual agency.

The sellers accepted the offer at $600K.  However, then they talked to an accountant, and guess what?  He told them to better let the property foreclose.  That short sales are a waste of time.  The problem is that they will soon be too long out the property, so the bank will 1099 from foreclosure loss.  The longer it passes, the bigger the 1099.  Although the sellers have not paid since end of 2009, they are not yet in foreclosure.  Anyway, they deliberated got going.  Then an attorney told them something similar.  That made them vacillate but came around again.  Eventually I got the paperwork and got the short sale started for good.

One critical thing to do with a property like this one, that basically has no comps, is to escalate the price down.  This is not advantageous for rapidly bringing buyers, because the property tends to initially show high in the MLS. However, the listing history is very important for showing the appraisal the validity of the offer.  Needless to say, as in most of my short sales, I was well armed the appraisal day.

As much as possible I like to be present at the short sale appraisal.  By this time, I have almost developed a relationship with the appraisers that gravitate towards the short sale transactions.  The gentleman in charge of this appraisal had appraised at least 4 other short sale for me.  By this time we are definitely on first name basis.

This is a typical short sale.  The property does not really need repairs.  It needs to be refurbished.  So I had the buyer provide me a professional construction estimate.  This is very helpful for the appraiser. 

The short sale is with Resurgent Loan Servicing.  They are based in Houston Texas.  I find the reps helpful, but full of hindrances.  Communicating with them is for sure complicated.  The reps can only have conversations with the agent.  They can't get or send direct emails or faxes.  They can't leave voice mails either.  So if you are not available when they call you, it may be several days until you hear anything about the short sale.

Fairly quickly I got the net amount the bank wants to get out of the short sale.  So I adapted the HUD1 form settlement statement to meet the requirements.  The were a few minor adjustment needed.  The problem is that because of the communication issue mentioned above, it is hard to know if all is well.  So that is were time is wasted. But the short sale is almost approved as of right now.  I just need the short sale approval letter, which I should get tomorrow.

At some point a week and a half ago the buyer decided that I was getting too much commission and I should discount it so he pays less.  Well, I told the seller.  Then the buyer bluffed by email stating that he was pulling out of the deal.  So I put the short sale back in the market.  Now that I have the short sale almost approved, with the bank 's net defined, I got lots of showing.  Soon the buyer recapacitated, and called and emailed stating that he wanted the deal.  As soon as put the property back in pending I got back up offer for $650K. 
So the buyer is getting a really good deal considering the type of property it is. 

I counted my hours of work on this short sale.  For the most part this deal was hard burst of labor mixed with a lot of waiting.  I think my hourly fee for this short sale will be around $250 per hour.  That why it is better to work with more expensive properties.

I just wanted to drop you a note to express my heartfelt thanks for being there when someone needs you. All too often, the pursuit of wealth and duplicity associated with gaining the inside track to the "All-Mighty Dollar" seems to win over and corrupt even the most honest & upright individuals among us. Thankfully, you are not among them! 

We have known each other for a short 2-3 years but it seems as though we've known each other forever. We are kindred spirits, you & I. We believe in fighting for the oppressed, the put upon, the lied to...the "Little Guy" who for one reason or another cannot or doesn't know how to fight back against the Corporate Giant banking industry in regards to protecting their homes from, oftimes, illegal "landgrab" foreclosures. It was through our dedication to fight for them that we have not only become business acquaintances but good friends.

Friendship in both personal as well as professional relationships requires a commitment to truth, honesty, respect and a dedication to others as well as oneself. You have outdone and outlasted many of the so-called "professionals" I have known in both my personal and professional lives. I can't count the times that I've called you with a question that I had that we didn't go into a long discussion & "learning exercise" that has expanded my expertise & ability to help homeowners to fight back against unscrupulous and underhanded banks. You've always been available, open and honest in your counsel, yet compassionate and understanding to the plight of the homeowner. For these qualities in you, I'm truly thankful.

In closing, let anyone who may question your ethics, who may doubt your honesty or think otherwise of your dedication contact me, personally. For all that you've done for me & everyone whose lives you've touched you are owed a huge debt of gratitude. If there is EVER anything that I may do to help you or your cause, PLEASE don' hesitate to call me!!

Sincerely
Randy Dant

Has anyone had the situation where the short sale bank cancels the home owner's home insurance policy?

I have never had this happen... Please help.

The Wisconsin housing statistics are in for December of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

2013 was a robust year for Wisconsin’s housing market, with both sales and prices increasing by solid margins, according to the year-end housing report released by the Wisconsin REALTORS® Association (WRA). Existing home sales were up 10.8 percent compared to 2012, and median prices increased 7.2 percent to $143,000 over that same time frame.

“Strong sales dominated 2013, which is remarkable given that this is compared to 2012, which was also a very good year for the housing market,” said Steve Lane, chairman of the WRA board of directors. According to Lane, existing home sales were up in every region of the state in 2013 relative to the previous year.

Lane noted housing sales were strong despite raising interest rates and prices. “Mortgage rates have increased a full percentage point since January, and median prices have grown consistently throughout the year,” Lane said. “Yet the entire state posted genuine gains in 2013, a trend we hope and believe will continue into the new year,” Lane said.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Take a look at Dane & Rock County! Marked improvements in price and sales volume, a great sign.

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI MLS Listings to search for current properties listed in the Janesville area or visit Madison, WI MLS Listings for MLS Listings in the Madison area.

Now might be the right time to sell your Wisconsin home! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

As part of the Federal Housing Administration (FHA) document requirements agents are required to provide a signed "FHA  Preforeclosure Sale Addendum & Real Estate Licensee Certification Form". This document is required by all lenders however, you can obtain the Bank of America Short Sale Addenda via the links included. These may also be obtained on the Bank of America Agent Resource Center under the Forms & Tips tab.

Note there is also a non-FHA version of the Short Sale Purchase Contract Addendum & Real Estate Licensee Certification Form. Bank of America asks that you please make sure the correct version of this form is being used.

The Opland Group  Specializes in  Real Estate Sales, Luxury Home Sales, Short Sales  in;    Bexley    Columbus    Delaware    Downtown    Dublin    Gahanna    Grandview Heights    Granville    Grove City    Groveport    Hilliard   Lewis Center    New Albany    Pickerington    Polaris    Powell      Upper Arlington    Westerville    Worthington

Columbus OH Short Sales, Columbus OH Realtor, Short Sale Specialists, Short Sale Process, Ohio Foreclosure Process and your Options, Avoid Foreclosure, Short Sale vs Foreclosure, What to do when you owe more on your home than its worth, How will a short sale affect your credit, Understanding Short Sales,  Bank of America Short Sales, Home Affordable Alternative Program (HAFA), What’s My Home Worth?

I would highly recommend the MIRS Service to family and friends. In fact - I have already done so. Janet was not only competent, extremely knowledgeable and factual, but she has always followed up on commitments she made to me. After the COTA was complete, she was also able to refer me to an attorney, Dale Wiley who was successful in stopping the foreclosure process on my home. The whole process was a pleasant one. The end result was what I had expected, no surprises- which was such a relief in such a stressful time. Thank you for providing such a valuable service to the average homeowners who would otherwise not have a clue about how to stop their foreclosure!

Sincerely
Gordon and Jeannie Merritt, WA

Make a difference! Save your home with this FREE report now!
Click here for more info! http://bit.ly/get-free-info

1038 Moore St, Beloit WI 53511 - $85,000

Cape Cod style family home now for sale in Beloit, Wisconsin. Nice sized Bedrooms!

Well kept Cape Cod currently used as a rental property. Hard wood floors and trim with tile in the lower level. 2 car garage has alley access. Short Sale.

Property Highlights

• 2 Car Garage
• Hardwood Floors
• Large Bedrooms
• First Floor Bedroom
• First Floor Bathroom
• Short Sale

Features

Janet Reiner of Mortgage Investigative & Research Services (MIRS) is a dedicated, passionate and enthusiastic individual. Janet has surrounded herself with a knowledgeable team of professionals in her quest to find truth for herself and others. The Chain of Title Assessment (COTA) she prepares is a real eye opener. If you think the chain of title on the property you own is proper and in order you may be shocked to find otherwise. The folks on Wall Street have made a mockery of the land records of every county of every state in the country. Janet can help a homeowner determine for themselves if the COTA report is applicable in their situation. More importantly, Janet will help pair homeowners with adequate legal counsel if desired to help determine what remedies may be available in each individual set of circumstances. I have found Janet to be supportive and by my side every step of the way and do not hesitate to refer her to others. Janet is in the trenches fighting everyday for and along with those who choose to fight for themselves. Sadly, when faced with financial difficulty or the threat of foreclosure too many people walk away and simply give up. Hopefully, more and more people will feel empowered enough to act when they realize there is more that can be done than to meekly surrender their homes. Janet is here to help. 

Sincerely,
Rick Greer, WA

Make a difference! Save your home with this FREE report now!
Click here for more info! http://bit.ly/get-free-info

What Kind of Mortgage Fits Your Needs?

No matter the state of the economy, each year the number of new mortgages underwritten reaches millions of homeowners.  Some are buying for the first time while others are downsizing or upsizing.  When rates drop, like they did over the past 2 years, many people seize the opportunity to refinance their home loan.  However, how do people decide on which mortgage to use for their specific need?  An online survey conducted by HSH.com points to some of the factors that influence consumer decisions.

Most Important Factor

It should come as no shock that the most important factor is the interest rate.  Regardless of the type of loan, the size of the loan or the customers home state, everybody is trying to get the best rate for their home loan.  In the survey mentioned above over 45% stated that the rate was the top factor for choosing a loan.

Other items, such as the length of the term and the fees also ranked high in the survey, but none was as vital as the rate.

Deciding How Much to Use for Down Payment

The ability to make a down payment equal to 10%-20% of the home’s price will give the borrower a range of products to choose from.  A large down payment and a solid credit score will usually allow a borrower to qualify for a conventional loan which has the best interest rates.

For borrowers that have a smaller down payment, their options will be limited to FHA, USDA or VA for qualifying veterans.

Choosing the Right Term

With rates at an all-time low many borrowers are actually paying more attention to the term of the mortgage loan as part of the decision process.  While the traditional fixed rate of a 30 year loan remains quite dominant more and more people are looking at different adjustable rate products.  Those borrowers that have refinanced in the past 2 years have often chosen to go down to a 15 or 10 year term in order to drastically cut down on their total interest pay back while also paying off the home sooner.

Brokers Still the Top Choice

When looking for the right mortgage loan a number of people still prefer to use the services of a mortgage broker over a local bank or credit union.  In the survey mentioned earlier over 30% of respondents claimed that they sought the services of a broker rather than another type of lender.  Since brokers typically have access to multiple lenders they can offer any type of mortgage loan and get the best rate too.

Obviously, none of these factors discussed the two biggest items facing a borrower; are they happy with the home and can they afford the mortgage payment?  Beyond those two items, the guidelines mentioned above should help any new borrower pick a loan that is right for their situation.

Additional Mortgage Info:
Home Mortgage Loans

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HERrealtors, here in most of Ohio; is forming a Short Sale Advantage--a system based on volume, processes, systems, organization of Professionals; and Statewide Realtors and Offices.

A 30% success rate in most of Ohio is not acceptable. We professionals owe it to our Clients, Communities, stability of Neighborhoods to improve our general lack of success at this solution.

We will base our organization on a model used by MetroAssociates, now with HERrealtors, that has produced a 90% success rate.

Watch for the NEWS!!

DON.BUSH@HERrealtors.com

The Wisconsin housing statistics are in for November of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin home sales fell 6 percent in November 2013 when compared to November 2012, although total sales for the year remain ahead of 2012. Comparing the first 11 months, home sales were up 11.1 percent in 2013 over 2012. Prices were also higher in November, rising 4.7 percent above the same month last year, to a statewide median of $136,000.

“Over the last two months, the housing market has definitely cooled from the red-hot pace that characterized the first three quarters of 2013.” said Steve Lane, chairman of the WRA board of directors. “This was bound to happen since the base of comparison is 2012, and that was a very strong year for home sales.” he said.

Lane pointed to markedly higher mortgage rates, steady upward movement in prices over the last year and a half, and heightened uncertainty of federal fiscal and health care policies as potential factors for the cool down..

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. Although the numbers cooled in November statewide, Dane and Rock County have been outperforming!

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Janesville, WI Homes for Sale to search for current properties listed in the Janesville area or visit Madison, WI Home Listings for Sale for MLS Listings in the Madison area.

Now might be the right time to sell your home! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

I was so very happy for my clients in October of 2013 when they received an offer on their home which would cover the amount owing on the 1st note......2nd note (with Merrill Lynch) would need short sale approval.

My client's contacted Merrill Lynch and were given a list of items that would need to be submitted in a short sale packet

Third party authorization was in place & on November 9th a clear, concise packet of all items requested by Merrill Lynch which included buyer's offer & notarized items was sent to supervisor Timothy Tracy.

Then came the request for items many times that had previously been sent.....no surprise there!

What really is troublesome is that Merrill Lynch has had the complete packet for 9 weeks & still no contact from our negotiator.

After many, many emails had been sent I did receive a call in December 2013 from Mr. Tracy who informed me that a negotiator had been assigned to my client's file on Dec. 17th - that was over a month ago and still no contact from our negotiator!!

My client called the Merrill Lynch supervisor today and his response was,
"You are the one that is asking for our help!".

What customer service you deliver Merrill Lynch.

We are very fortunate that we have the ability to perform acts through our body, speech and mind effectively. We will not have this opportunity forever. We must use this to benefit others. Practicing generosity is a perfection. Giving your time and effort to help others without charging fees ranks very high in the order of meritorious deeds.

I work in an industry where I see people facing financial hardships lose their homes, financial and social standing and self esteem, thanks to lenders and loan servicers participating in an economic system designed to exploit others. They cannot afford to hire expensive professional services. The same applies to other industries and walks of life. The needy can seldom afford to hire professional help.

Working pro bono means offering your services for good without charging for it or at highly reduced fees. If you can spare a little bit of time to help others, you can light up their lives. I will participate in any such initiatives whenever feasible.

We are generally very good at advising others but going one step further and actually doing it for someone makes a huge difference. When you are hungry, you need food not a recipe. Think.

I have experience performing the following tasks for the US real estate market participants:

* Reviewing title reports.
* Resolving title issues.
* Suggesting foreclosure prevention strategies.
* Identifying and negotiating liens and judgments.
* Identifying HOAs, negotiating HOA dues and reviewing HOA rules/docs.
* Performing closing agent functions like preparing Escrow docs, obtaining payoffs, preparing Grant Deed/Warranty deeds, Quit Claim deeds, HUD statement etc.

Please add my skills with my details to your phone/organizer so if you need any assistance you can reach me. I will help whenever possible. Similarly, please offer your skills and contact details to others so they can reach you when they need your help.

We are like a store of seeds. Some are good and some seeds are bad. If we water good seeds, compassion will bloom. Practicing generosity we water the good seeds. When we all realize this, we begin to form mindful and enlightened communities.

Dear Lender,

I will never forget how it felt when we first met. I had dreams and you had the means. It was as if we were made for each other. You promised to fulfill all my dreams. You promised we would have a beautiful home, a fancy car and money to send kids to college. That we would shop and vacation at exotic locations. You said you wanted me to live my dreams. I fell for your charms. I signed the promissory note.

Then, you changed. I thought you were true to me but you lied. I told you she was trash but you wouldn't listen. That really was subprime! You said I wasn't 'adjustable' and treated me like yesterday's jam. I had to sell my jewelry and liquidate my savings to support your flashy lifestyle. It never was enough. The subprime trash took all you had. All that I had given you!

You now want to take my home and sell it on HUBZU. You may do as you please but I have had enough. I have learned how greed and desire cause hardships. You misled me but I have found the Way. I have discovered the Sutra on Eight Realizations.

http://www.fodian.net/world/779.htm

I will practice mindfulness and have few material desires. I have understood that if I desire for more, I will end up being a part of an economic system that exploits others. I have understood that happiness is a peaceful state of body and mind. I will practice mindfulness to cultivate a peaceful state of body and mind.

Goodbye, my love!

Borrower

--------------------------------------------------------------------------------------

Saurabh Singh is a student of the Vietnamese monk, Thich Nhat Hanh and promotes veganism and the practice of mindfulness for creating happier and enlightened communities. Saurabh is against foreclosure and forced evictions.

4534 Vilas Rd, Cottage Grove, WI 53718 - $179,000

Three Bedroom Short Sale Ranch on Large Rural Lot

Wonderful rural property with country view out front window. Large living room, formal dining room and original hardwood floors. Newer tile in bathroom with updates. Don't miss out on a great deal. Short Sale. All offers subject to seller's bank approval.

Property Highlights

• 2 Car Garage
• Large Rural Lot
• Ranch
• Fireplace
• First Floor Bedroom
• Short Sale Opportunity

Features

I have a short sale, my Seller, with Ocwen in first and 21st Mortgage in second position. We have a strong offer, all documents submitted, HAFA compliant, and we're waiting on the second (21st) to agree to it and release the Seller from all liability (part of HAFA guidelines). We got word yesterday that 21st Mortgage wants the same percentage of repayment to original debt that the first (Ocwen) is getting. Right now, they're getting about $6,000 against a debt of $45,000 but they want about $30,000 more. 

Have any of you encountered this with them? Have a strategy to suggest?

I have been working on a short sale in Elk Grove, Ca. for almost 1 year. It was with B of A and I actually got an approval. On that same day, the loan was transferred to Ocwen. I was told I would get an approval letter from Ocwen within 2 weeks. They did issue an approval letter but I never got it because they sent it to the wrong email address. They admitted this to me and even acknowledged that I had been calling every other day to find out why I did n't have the approval letter. They are now telling me I must start all over. My sellers are ready to throw in the towel. Any suggestions on who I can talk with about this situation??Much Thanks,

Tracey Saizan

Keller Williams Realty

(916)761-8180

Hi folks. If you handle Short Sales then you are probably aware of the new trend..... Lenders/Servicers partnering with auction companies to "assist" in the selling of the property.

The two partnerships that are causing the most discussion on the web are Nationstar/Auction.com and Ocwen/HubZu.com 

In most cases your seller will NOT be able to opt out of these required auctions. So be prepared to have to deal with this. You can try but in most cases if the borrower doesn't use the auction service the Short Sale will be denied.

My biggest complaint with this has always been the lack of disclosure and the way that they spring the auction requirement on the borrower and the agent at the last minute. In fact Nationstar and Ocwen usually won't even bring it up until AFTER the agent has already found a buyer for the property.

We work the short sale, sometimes for months, submit documents to the lender, find a qualified buyer only to then be presented with this auction requirement. It can be very frustrating. Especially if they now try to reduce the commission to pay the auction company. I offer guaranteed co-brokes on short sales. The lender reducing the commission after the fact can be very problematic.

And of course they have no qualms about throwing the existing purchaser to the curb.

So what can we do?

1. Call the servicer at time of listing and ask them if an auction will be required.
2. If they answer "yes" then see if they will do the auction now instead of waiting for a contract before they "verify the offer" at the auction. Auction.com will do this. I'm not sure about HubZu.
3. If they won't answer the question..escalate. You really need this information upfront.
4. If the auction is required adjust the co-broke in the MLS and provide as much info as you can about the auction process to the buyer side.
5. Full disclosure to all parties is imperative. Prepare a written disclosure and have it signed by all parties.

My guess is that these auction services are going to become more and more prevalent. the bottom line is that the lenders want as much money as they can get for the property. The auctions have always worked for their REOs so it makes sense for them to want to do the same with short sales.

As agents we have to decide whether or not we want to take these types of listings. I had decided to take a pass.

BUT....things change. I now see this as an opportunity for me to create another niche. So...I'm learning their systems and procedures.

If you are a Florida agent or Florida Short Sale Seller and want help with Nationstar/Auction.com or Ocwen/HubZu.......I can help.

****Tutas Towne Realty will list or co-list any of these types of Florida Short Sales anywhere in the State of Florida. 50% referral fee for co-list. Let's talk