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You may be asking yourself, just why should I hire a Short Sale Negotiator?

Let’s start by stating that a dedicated short sale negotiator can be invaluable to the success of a short sale!  An experienced and successful short sale negotiator has established many relationships with many banks.  They know the ins and outs of how to best handle each individual short sale. Each short sale is unique with respect to the seller’s situation and their individual bank’s requirements. The process becomes even more complex when there are two or more loans and additional liens with multiple banks.

While the seller’s agent may be able to negotiate directly with the bank, a dedicated short sale negotiator who specializes in short sales will often produce the best results for the seller and the buyer. They can typically obtain approvals from all lenders in a more favorable time frame and know the best terms that can be negotiated.  Considering that a real estate agent may process a few to several short sales per year, a dedicated short sale negotiator may handle hundreds or thousands per year.  This means the negotiator is in regular contact with most banks, establishing cooperative lines of communication, while keeping up to date on all industry and specific lender changes. They also are aware and experienced with special programs that are available to offer even greater incentives to the home sellers.

In addition to all of this, the following are also benefits to hiring a short sale negotiator:

1. Free up time! They assist with the collection of all of the short sale paperwork and package
2. More time to market for more listings instead of spending time on the phone with the lenders
3. Focus on core competencies and delegate the rest of the workload!
4. You are the hero because you were able to put together a stellar short sale team.
5. Receive full short sale approval quicker due to the knowledge and experience of the negotiations team.

Now, remember…not all short sale negotiators are created equal. At Short Sale Experts INC, we offer that and much more! We have proven track record of success and have many raving clients! With our brand new member website, you can obtain all the information pertaining to short sales that you could want, for FREE! We are able to take your file off your hands, and hand you back an approval letter in record time. We value our clients so much and want nothing more than to help them market and build relationships within the real estate community here in San Diego.

Call us for more information: 888-746-7820

Hi Everyone,

I have a situation where the father of the property owner is a licensed real estate agent. The owner is in default and would like to proceed with a short sale. Is there any conflict with the "Arms Length Transaction" if I pay him a referral fee? Has anyone else encountered this? Thanks.

Hello all,

I have made an offer on a property since August, 2011 and I finally got an approval with a closing date of 8/10/2012.

Here are some of the details:

*There is one loan and 2 lines of credit with two different banks.

*The lendor is Bank of America  - They have approved the 1st loan

* I hired a negotiator and she told me that she is in the middle of the negotiation stage with the two companies that carries the lines of credit and she should have any answer very soon.

*Bank of America has already allocated funds to these companies to release the liens so I can close this deal.

Question:

Do you think I am near closing? It will be a year next month since I am waiting to close this deal.

Best Regards and thank you very much for your feeback.

My home has been in forclosure for over a year and I have had a short sale offer since August of 2011. I can't seem to get an answer as to why this is taking so long. My loan is with Wells Fargo. Does any one know of way to get this to move faster. Very frustrating! Lorisa

Rock Realty Client Testimonials

"My first listing contract (with another agency) expired without a single showing. I contacted Mike Collins hoping to get some straight advice about whether he thought the property would ever sell versus letting the lender foreclose on the property and save my mortgage payments for legal counsel. He was upfront from day one. He told me that it would take a while and that I'd probably have to hold it through the winter (I called him in September) but it would probably sell in the spring. His honesty made me immediately willing to hire him. He found a buyer in May and worked with my lender to close the sale in record time."

Drew V.(Marshall, WI)
Rock Realty Client

I've been working a short sale since Jan with a first (GMAC) and a second (Chase) which was set to close last Weds.  But Tues the home burned down in the Colorado Springs firestorm. The purchase price we had was $265,000 with the first getting $233k and the second getting $5k - all approved and ready to go. FC sale date is 9/26. My question is has anyone ever had a successful short sale using insurance proceeds to short the lenders? The proceeds at $277k are more than the purchase price we had and if we could get the lienholders to release the notes, it would be better because the second and the real estate commission would be settled as well. The seller became deceased after we were under contract and the family does not want to leave the pile of ash as a bank-owned property for the neighbors to deal with - even though it's a complete burn area many of the residents want to re-build there. If this were accepted, the family would wind up with the land and clean it up with other proceeds and sell later. Any insight or experience would be appreciated!

Beautifully maintained 3bd/2ba Condo in Indian Palms Country Club; Just Listed.  $138,000.  This home is on an end parcel so common areas surround it, making it very private and quiet.  Plus..the Eastern porch is right on the Fairway!  3bd/2ba, built in 1981, with vaulted ceilings and a remodeled kitchen..even includes a single enclosed garage + a covered carport..what a deal!  The kitchen has stainless appliances, including a anew double sink and gorgeous slab granite.  There is a seperate dining room with a wet bar, a family room with sliders to the fairway porch, a large master bedroom with walk in closet and another porch and 2 additional bedrooms for guests.

Indian Palms CC, is off of Monroe Ave. in West Indio, and about 5 minutes from the Polo fields which is why so many equestrians have seasonal homes here.  A public golf course that is  "pay as you play, plus an onsite restaurant, clubhouse and gym if you choose to pay the very low gym membership, and lots of community pools.  One of the best deals in the desert with HOA's of approx. $250/month depending on where your home is.  This covers landscape, trash, insurance and exterior maintenance.

The borrower has only one note with Wells Fargo and was relocated for work, so should be relatively quick.

I list, negotiate and CLOSE my short sales, so there is no third party to deal with in my transactions. 

It's time for the short sale/vs REO round-up for the first half of 2012. Today I will do the entire county, and then will break down the numbers by city.

So, in Santa Clara County from Jan 1, 2012 until June 30, 2012 there were:

1783 closed short sales

1099 closed bank owned home

Total sales during this time period were 8201

Total % Short Sales: 21.7

Total % REO Sales: 13.4%

Total Percentage Santa Clara County Distressed Properties: 35.1%

This is still a significant number in terms of percentages and at this percentage they are bound to have an effect on the overall market.

If you have any questions about short sales or foreclosures in San Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

We are happy to announce that last week we had another successful Wisconsin short sale closing, this time in Marshall. As you have likely heard, short sale transactions can be complex, and an experienced Short Sale Realtor® is a must.

This was a great home that the new owner is sure to enjoy! If you are thinking of selling or buying a short sale home in Wisconsin, our short sale specialists would be happy to assist you. Give Rock Realty a call at 877-774-7625.

Or, if you are considering a short sale for your home, feel free to fill out our no obligation

Short Sale Home Evaluation Form

It's time for the short sale/vs REO round-up for the first half of 2012. Today I will do the entire county, and then will break down the numbers by city.

So, in San Mateo County from Jan 1, 2012 until June 30, 2012 there were:

517 closed short sales

430 closed bank owned home

Total sales during this time period were 2520

Total % Short Sales: 20%

Total % REO Sales: 17%

Total Percentage San Mateo County Distressed Properties: 37%

This is still a significant number in terms of percentages and at this percentage they are bound to have an effect on the overall market.

If you have any questions about short sales or foreclosures in San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

DRE  01191194

Good morning Superstars.

Here are this weeks popular discussions. And don't forget.........

Thanks For Helping Us Make Short Sale Superstars

The #1 Source For Short Sale Information On the Planet!

OUR GIFT TO YOU

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Discussions	Replies	Latest Activity
USAA 2ND LIEN, DONT BOTHER, LET IT GO TO FORECLOSURE! I am a very experienced short sale realtor/negotiator. I have 20 listings in pipeline, close 4-5/month. Florida listing Chase 1st lien $4… Started by Richard Zucchini	5	16 minutes ago Reply by Bryant Tutas
Wells Fargo was Incompetent in this transaction!!! Just recently I had a short sale where I was the buyers agent and there was a short sale approval and they even got an extension but the pr… Started by Ray Brokke	2	11 hours ago Reply by Carmine R Biello Jr
Non refundable EMD if the buyer walks? How do you handle the EMD going into a short sale? Do you refund the EMD if the buyer walks or do you have a form signed by the buyer and s… Started by Bob Hanley PSC/EC/CDPE/e-Pro	9	11 hours ago Reply by Carmine R Biello Jr
If you were the seller, which offer would you submit? Short Sale listed at 515k. Two offers on the table: 499k cash, close in 14 days 525k conventional. 1st loan: Nationstar 2nd loan:… Started by Wendy Martin	3	11 hours ago Reply by Carmine R Biello Jr
Provident Funding's refusal to do a short sale.... despite sales contract that's higher than appraised value...!! Can someone advise on this Illinois home sale...? Provident Funding is refusing to agree on a short sale for a homeowner who has a financ… Started by Ted Breden	1	12 hours ago Reply by Joseph Alfe
Green Tree short sale I have a seller that wants to short sell his house and he has 1 mortgage with Green Tree, I have never worked with Green Tree. How are they… Started by Michael Guerndt	2	12 hours ago Reply by Carmine R Biello Jr
Seller filed bankruptcy in middle of a short sale Hey all, We have a short sale that we've been working on for a while and we actually already had an approval on it. unfortunately the buyer's… Started by Nessa Segoviano	3	12 hours ago Reply by Carmine R Biello Jr

Two spectacular short sales coming up next week here in the Palm Springs Valley, California..

1.  Indian Palms CC, Indio, CA.:  This 3bd/3ba Condo is located on the Fairway and in great condition.  Appliances included other than washer/dryer.  Granite eat counter was added off the kitchen and there is a lovely, gated porch on the Fairway side of the home and also on the off-fairway side.  I will list it at approx. $120,000.  One note with Wells Fargo.  HOA's are $225/month and include use of the community pools, clubhouse, restaurant, and common areas.  The course is public and very reasonable..pay as you play. 

2.  Indian Springs CC, Indio, CA:  Lovely 3bd/2ba approx. 1800 sf single family home at beautiful Indian Springs.  Great condition, although this one is not on the fairway.  It will list at approx. $170,000.  One note with Citibank.

I list, negotiate and CLOSE my own Short Sales.  No third party negotiation company used or needed.  I do not list Short Sales that I don't feel very confident about and consequently closed all of my Short Sales that I listed in 2011 and will do the same in 2012!

Free property consultations and short sale information..

In 2007 the Sunnyvale market was very competitive for buyers, especially for homes in the Cupertino School District. Many homes were getting multiple offers (like today) and nerves were often frayed (like today). I was working with a very nice couple who were looking for a single family home with Cupertino schools. They made several offers before one of their offers was finally accepted. 

One house came on the market in the Birdland neighborhood and the agent said we could submit an offer right away and she would present it to the seller. So my buyers wrote a very good offer which was submitted on a Friday evening, but the agent said she could not get a hold of her clients and would get back to me. There was an open house on Saturday and my clients went to the open house but did not tell the listing agent who they were. They stood there as the listing agent told the visitors to the open house that she had an offer, exactly how much it was, and what they would have to do to make a better offer.

I was shocked, and my clients not happy, escpecially when they did not get the home. But they said at the time, they felt the agent was trying to get the best deal for the seller. 

When my clients finally got an offer accepted and closed escrow on a great home I helped them find some contractors to update the kitchen and baths. When this was done, they were ready to put their town home on the market. Much to my amazement they asked the agent who told other potential buyers what their offer was to list their home. Their reasoning was they felt that agent was going to get them a better offer even if it was not done fairly to the buyers.

Wait, it gets better. Right before the home went on the market the client called me to tell me the home was listed and please feel free to bring in a buyer. I said, while trying very hard not to laugh, "After what this agent did to you, I would never subject another buyer to their unethical treatment. It would be totally unfair to my buyer." Their town home did eventually sell, but for 5% less and in 6 times as long a time period as most other homes at that time. The old client was shocked. 

So the point to all this is that a Sunnyvale Short Sale Agent must have an impeccable reputation with other agents. It is not enough to have a well priced home to sell. If you hire an agent who does not play well with other children (or other Sunnyvale short sale realtors) you will make a complicated transaction even more complicated. Short sales, even more than traditional sales, need everyone to work together, sort of like a synchronized swim team. If one of the team members is trying to drown the other team members no one wins.

So do your self a favor, when looking for a realtor for your Sunnyvale Short Sale find someone who is experienced, well educated in the process, and has a great reputation with other agents.

If you have any questions about buying or selling a short sale in San Mateo or Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Absolutely. YES!!! You will not be asked to move out until the closing. If your specialist is actively working with your bank, your lender will typically delay the foreclosure proceedings making it possible for you to stay in your home a little longer.

 While lenders have become more lenient in recent times, there are typically three qualifications required for a short sale.

1. Financial Insolvency (no other major assets),
2. The proceeds from the sale of the property, after all closing costs are paid, are less than the amount currently owed on the property, and
3. Financial hardship. Acceptable hardships may vary, but some common ones are; loss of income or employment, divorce or separation, relocation or job transfer, property in need of repairs without recourses to make repairs, major illness and medical expenses, death of a family member, vacant rental properties, etc. In most cases, a short sale is not for those who want to sell, but only for those that have to sell.

To settle for a foreclosure means accepting the damage to your credit a foreclosure would bring. It also means accepting the fact that in many states, the lender will seek a deficiency judgment in the amount that is owed. A short sale by itself will typically lower your credit score by 50-120 points, however the hardest hit on your credit will be from missed mortgage payments, not the short sale itself. Your credit will usually recover from a short sale in as little as two years, whereas a foreclosure could dampen your ability to take out any future mortgage loans for at least five years

A short sale happens when a lender is willing to accept a lower pay off on a loan than what is currently owed. In a short sale, the borrower will owe more on the property than the home is worth at its current state, however, a short sale happens only when a homeowner qualifies through some kind of hardship.

Short Sale Superstars is reaching a big milestone this week . We are about 7 days away from having 10,000 members!!!

Wendy and I knew we were onto something when we started Short Sale Superstars 3 years ago but never imagined we would one day have 10,000 members.

We are also closing in on 1,000,000 unique visitors to the site. Short Sale Superstars is the most visited public Short Sale Network on the planet.

How awesome is that? My guess is that with your help we have been able to help 1,000s of people avoid foreclosure. So THANK YOU!

As a small token of our appreciation we are giving you, for free, our Advanced Short Sale Training Session on Lead Generation. CLAIM YOUR FREE LEAD GENERATION TRAINING HERE (1 hour seminar with marketing materials. This is not a sales pitch. It's a gift)

Also, if you want to order the complete Advanced Short Sale Training you can take $50 off the regular price from today until July 4th. Just use the discount code sss10000 when ordering.

This will give you a total cost of $147.00 for 13+ hours of Advanced Short Sale Training and a 2 year membership into the Advanced Training Group on Short Sale Superstars.

You can find more details here.

Found out that my Short Sale with ____________ has been stopped as they are transferring this sellers loan to Nationstar . Having Irrate Sellers and Buyers and Buyers agent panting at my door . This is so sad anyone 

You think you’ll try the self check out lane because you’re kind of in a hurry and with only a couple of items, it seems like the right thing to do.

First, the scanner doesn’t read your bananas so you have to punch the numbers in manually, but because the code on the sticker is so small, you have to first get your reading glasses out so you can see it. The vodka you’re getting requires store authorization, so you’re waiting for the 16-year old bagger who’s talking to the 18-year old bagger, wondering if she likes him. Once he makes it over to your “quick” check out lane, he takes one looks, sees you’re old as the hills, and punches in some secret code so the vodka goes through. At this point, you just wanna throw the damn bananas and vodka in the car and get outta there, but then the little thingy won’t read you ATM card.

Short sales are like that.

It’s a good idea. Really. Much like avoiding long lines in grocery store (foreclosure). So you do the right thing. You hire an agent with sass and skill who (hopefully) properly preps you for the pitfalls and frustration you’re about to endure:

1. It will take time.

2. You will need to provide bank statements, pay stubs, and promises that you’re not related to Bill Gates or otherwise loaded with off-shore accounts.

3. You will have to let people inside your house; they will see your bedspread, book shelves, and litter box. (you will have to keep it clean).

4. The bank will play hard ball (this is where the sassy agent comes in).

5. You may need therapy (this is where the vodka comes in).

But then, if the blessed approval comes in (and a small celebration ensues) escrow is opened and all that awaits is the nail-biting inspection and appraisal period. You hope there is no dry rot damage from the weekend your son made a pool out of the hallway bathroom, and that the appraiser totally misses the mansion that sold next door two weeks ago. Assuming too, that the buyer turns out qualified and doesn’t change her mind because the cute house across the street that just went up for sale has such a neat-o tree in the front. Additionally, you’ve managed to fax and email and scan and be notarized about everything under the sun that always, no matter what, was due two days ago. Now you might, if you are very, very lucky, close your deal.

Seriously though.

While a short sale can be like a bit like a 10 Item or Less nightmare, it is leaps and bounds better than foreclosure. It is the responsible thing to do, that will, eventually (and I have to believed this) help repair our damaged housing market, thus our economy. Plus, you get to maintain your dignity and quite likely buy another house sooner. If it helps, I will bring plenty of banana and vodka. Promise