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PROCESS (6)

SHORT SALES ARE BACK! Mike Linkenauger & Bryant Tutas Interviewed

Posted by Lee Honish on September 30, 2014 at 11:00am

CLICK HERE TO LISTEN TO THE PODCAST: http://tinyurl.com/qa62n6h

itunes pic

Real Estate Marketing (The Podcast)

How do I get a listing or deal? #Investor #Realtor

Short Sales are BACK!

CLICK HERE TO LISTEN TO THE PODCAST: http://tinyurl.com/qa62n6h

GUESTS: 
Bryant Tutas 
407-873-2747 
Co-founder of www.ShortSaleSuperstars.com. Working Short Sales every day all day.

Real Estate Broker and Owner of Tutas Towne Realty. A virtual Real Estate company specializing in listing and selling Short Sales and REO properties in the Central Florida Area.

Finding solutions that get your property “sold” is what I do.

Folks, if you need to sell your home then give me a call today and let’s talk! 407-873-2747 All calls are confidential. I can help……

….if you’re facing foreclosure. www.CentralFloridaShortSales.com 
….if you need to sell a Holiday Home. www.BuyProperty.ning.com 
….expose your property to over 500 web sites. www.TutasTowneRealty.com 
….educate you on current market conditions. www.BrokerBryant.com

Mike Linkenauger 
904-733-4911

Main website http://www.short-sale-specialists.com

Short Sale Websites - www.ShortSaleHosting.com
Mike got his start in Real Estate in 2005 at the young age of 26. He immediately established himself as a top producer in the Jacksonville, FL market, moving into the top 1% of agents his first year in the business. As the Florida housing market became depressed in 2007, Mike shifted his focus and immediately found a calling in assisting home owners with a short sale. In no time he amassed an inventory of over 100 short sale listings and quickly established himself as one of the top short sale agents in the State of Florida. As his online presence grew, homeowners from other parts of Florida began contacting him for guidance with a short sale and to be connected with a local short sale agent.

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Beaumont, California Short Sale REALTORS - Helping People with the Short Sale Process

Posted by Garrigus Real Estate Group on July 15, 2016 at 6:30am

Realtors in Beaumont

Beaumont, California Short Sale REALTORS - Helping People with the Short Sale Process

Are you under-water on your Beaumont, California home? Have you experienced a hardship that has made paying your mortgage difficult or impossible? We can help you. Whether you occupy the home, its vacant or a rental, we have helped many Beaumont homeowners and other Southern California residents short sale their homes and avoid foreclosure.

WE ARE BEAUMONT CA SHORT SALE REALTORS

Here's a quick summary of who we are:

  • We have lived and worked in Beaumont, California since 2007/2008, and have been helping Beaumont homeowners sell their distressed homes since the market crash.
  • We specialize in short sales! We've helped many homeowners negotiate with banks and lenders. We've worked with all the major banks, and most of the small ones too. WE KNOW THE SHORT SALE PROCESS AND WE KNOW WHAT WE ARE DOING.
  • We are a husband and wife team, and we are full service short sale agents. We handle all aspects of the short sale process from beginning to closing. And we never, EVER charge you a dime for our short sale services.

As of this post its July 2016. Yes, the market has recovered, but not all Beaumont homes have regained their purchase value! If you're still struggling to maintain that under-water home, call us and let's discuss your options:

Todd & Devona Garrigus

Garrigus Real Estate Group/HomeSmart Professionals

(951) 490-3683

Check out our Short Sale Formula

Beaumont CA Short Sale REALTORS

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A Guide To Home Mortgage Rates

Posted by David Heroux on November 22, 2013 at 5:29pm

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Columbus Ohio is Buyer Friendly

Posted by Jim West on February 18, 2013 at 8:31am

Columbus Ohio is one of the top 10 cities in the United States in which to buy a house, according to http://www.NerdWallet.com, a website designed to provide financial advice and data for young people. The site considered three criteria - availability of homes, cost of living and anticipated growth (measured by population & job growth). Columbus just made the cut at No. 10with these coments "Columbus is a great place to settle down and buy a home, with its low cost of living. This college town (it's home to The Ohio State University) has a laid-back Midwestern vibe." Topping the list was Fort Worth, Texas, followed by Charlotte, N.C. and San Antonio. Indianapolis, at No. 8, was the only other Midwestern city on the list.

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Will Palo Alto Have a Rash of Closed Short Sales?

Posted by Marcy Moyer on July 30, 2010 at 2:30pm
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 help the typical Palo Alto underwater seller?

The short answer is no. There is not a lot of help for owners with jumbo mortgages.

The long answer is maybe not.

shortsale-home.jpg
Here is what I have learned in the last year. It may not be the whole picture, as this world of what happens at the banks, hedge funds, and mortgage insurance companies is not transparent--but I have been involved in short sales and have studied them a lot.

If you are one of the few owners who has one loan then the chances of a successful short sale are much higher. The bank will lose less money than with a foreclosure and will be more inclined to approve your sale. This is assuming you have a verifiable hardship. However, even people with only one loan may run into road blocks if the bank has investors who own pieces of that loan,( frequently hedge funds) and if they don't feel the offer on the house is good enough for them they may derail the sale.

Ok, so what if you have 2 loans, but they are both with the same bank. Again, this is usually easier than some of the other scenarios, but not a guarantee. The bank may be willing, but the investors may not be.

Third scenario, you have 2 loans with 2 different banks. First bank offers second bank 3-10K to allow short sale. The theory is second bank will get nothing if there is a foreclosure. Second bank can have 3 reactions.

1. Co-operate because they get nothing if there is a foreclosure.
2. Play hardball because they know the first bank will lose more money if they foreclose.
3. Not cooperate because they have insurance on the second loan and will get more money if the first bank forecloses and they get paid 25% of their loan from the insurance company as opposed to the 1-5% they are being offered by the first lien holder. In this scenario the first bank is probably not losing too much because borrower has very little equity to begin with since they borrowed on a second or equity line.

4th scenario: In addition to a first and second loan there are other liens against the house including tax or business or personal loan liens. In this case a short sale is almost impossible to accomplish and it is not worth anyone’s time.

So as you can see this is a complicated process and not for the faint at heart. Since many of the loans on Palo Alto homes are jumbo, there are a lot of hedge fund managers out there making decisions about markets in which they may not have enough information. Added to that is the growing resentment against borrowers who are opting for a strategic default or foreclosure because the asset (their home) has depreciated so much they don't feel it is a good investment strategy to hold onto it.

It will be very interesting to see how many attempted short sales actually go through in the next year.

For anyone interested, here are some links to articles I've written on short sales and foreclosures:
The Facts About Palo Alto Short Sales and Foreclosures

Don't Get Behind on Your Mortgage in Palo Alto

A Deed in Lieu of Foreclosure

Hardships and Short Sales

When Homeowners Change Their Minds, Landlords Reap the Benefits

A Better Way to Do A Short Sale

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9285 Twitter

*photo courtesy of South Florida Short Sales
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CONTEST: What can be done to help make the Short Sale process run smoother? In my opinion...

Posted by Wanda Kubat-Nerdin on December 31, 2009 at 1:55pm
Banks should hire seasoned agents as consultants to train bank personnel from the ground up. Cross train to ensure everyone is on board, especially when people go on vacation or change departments or move on to other banks. Out-of-state banks need to stop thinking properties are worth much more than they are by holding out for that ‘perfect offer’ that will never come. A universal short sale form packet should be designed for all banks to use – no more than 5 pages. Give a deadline of no more than 60 days from the time a complete file is turned in to wrap it up and to be held accountable and charged a per diem if they do not perform.
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