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Real Estate Marketing "The Podcast" How do I get listings or deals? #Investor #Realtor

David Bartels LIVE from Anaheim CA presentation

805-413-8000
http://www.homeloanadvocates.com/

Banks grant short sales for two reasons: the seller has a hardship, and the seller owes more on the mortgage than the home is worth.

The seller will need to prepare a financial package for submission to the short sale bank. Each bank has its own guidelines, but the basic procedure is similar from bank to bank.

A few examples of a hardship are:
Unemployment / reduced income
Divorce
Medical emergency
Job transfer out of town
Bankruptcy
Death

The seller’s short sale package will most likely consist of:
Letter of authorization, which lets your agent speak to the bank.
HUD-1 or preliminary net sheet
Completed financial statement
Seller’s hardship letter
2 years of tax returns
2 years of W-2s
Recent payroll stubs
Last 2 months of bank statements
Comparative market analysis or list of recent comparable sales

Writing the Short Sale Offer and Submitting to the Bank

Before a buyer writes a short sale offer, a buyer should ask his or her agent for a list of comparable sales.

Banks are not in the business of giving away a home at rock-bottom pricing. The bank will want to receive somewhat close to market value.

The short sale price may have little bearing on market value and may, in fact, be priced below the comparable sales to encourage multiple offers.

After the seller accepts the offer, the listing agent will send the following items to the bank:
Listing agreement
Executed purchase offer
Buyer’s pre-approval or proof of funds letter and copy of earnest money check
Seller’s short sale package.

The Short Sale Process at the Bank

Buyers may wait a very long time to get a response from the bank. It is imperative for the listing agent to regularly call the bank and keep careful notes of the short sale process.

Buyers may get so tired of waiting for short sale approval that they may feel the need to threaten to cancel if they don’t get an answer within a specified time period.

That type of attitude is self-defeating and will not speed up the short sale process. If buyers are the type with little patience, perhaps a short sale is not for them.

Following is a typical short sale process at the bank:
Bank acknowledges receipt of the file.
A negotiator is assigned.
The bank orders a valuation of the property.
The file is sent for review or to the investor.
The bank may then request that all parties sign an Arms-Length Affidavit.
The bank issues a short sale approval letter.

Some short sales get approval in 3 weeks. Others can take as long as 12 months. A typical Short Sale transaction takes 4-6 months to complete.

We would like to introduce you to our home buyer specialist, Eric Engels, Realtor® | Real Estate Agent serving the Janesville, Wisconsin area!

"Hello Rock County! I am very happy to have joined the Rock Realty team. I have been a resident of Janesville for over 13 years. I lived in the Quad Cites before that living in both Illinois and Iowa. In 2006 I had the chance to move back to the Quad Cites, I thought about it for about 2 seconds, but Wisconsin is the best place to live I couldn't leave. I am a big fan of the Midwest way of living! I am very excited to meet some of the great people in Rock County, and to help them in there home buying and selling needs."

"At Rock Realty we use the newest and most innovative technology to help us in our advertising and researching needs. Please feel free to call or e-mail me with any questions you may have. Again I look forward to meeting the great people of Rock County."

Thanks

Eric Engels

Visit my site to search for Janesville, WI Real Estate Listings:

www.JanesvilleListings.com
(Homes for sale in 53545, 53546 and 53548 and the rest of Dane & Rock County)

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

The Wisconsin housing statistics are in for April of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin existing home sales fell in April even as median prices continued to rise according to the most recent analysis of the state housing market released by the Wisconsin REALTORS® Association (WRA). Home sales declined 11.6 percent in April compared to the same month last year due to a combination of higher home mortgage rates, higher prices and harsh winter temperatures. Median prices rose over that same period, increasing 1.4 percent to $139,900.

“As we enter the second quarter of the year, we have been expecting some improvement in home sales, but it’s important to remember that April sales are still impacted by the February weather given the 6 to 8 week lag between the time an offer is accepted and a closing takes place,” said Steve Lane, chairman of the WRA board of directors. He also noted that there were heavy snows in the northern part of the state as late as mid-April 2014. Every region of the state experienced a decline in April sales. The Central region fared the best, falling just 3.8 percent over the April 2013 to April 2014 period, followed by the Northeast region which dropped 8.5 percent over the period. The South central region fell 9.6 percent and the Southeast region saw a decline of 10.1 percent. Finally, the North region dropped 17.4 percent and the West fell 25.5 percent. Interestingly, home sales fell more substantially in the metropolitan counties which averaged a 13 percent reduction in sales in April compared to rural counties which declined 7 percent between April 2013 and April 2014. “This may be due in part to much tighter inventories in the urban counties compared to rural counties,” Lane said. Rural counties had just over 14 months of available inventory in April compared to just 6.9 months for metropolitan counties.

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, overall home sales & prices have been increasing over the past few years. This month however showed a decrease of home sales statewide, but an increase in home prices.

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 Home Listings in Rock County to search for current Rock County properties or visit Home Listings in Dane County for homes in Dane County Wisconsin.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! 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? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

Just Sold! 409 East Street, Stoughton WI 53589

We are happy to announce a recent home closing in Stoughton, Wisconsin. This was a home closing where Rock Realty represented both the buyers and the sellers. The sellers had moved out of state and left it to Michael Collins at Rock Realty to guide the transaction to a successful close. I know the buyers are excited to start their planned renovation to make the home just right for them! Congratulations to everyone involved!

If you are thinking of selling or buying a home in Wisconsin, our home buyer specialists would be happy to assist you. Give Rock Realty a call at 877-774-7625. We are a full service real estate brokerage.

Stoughton, WI Homes for Sale

OTHER ARTICLES

• Getting Pre-Approved for a Mortgage Before Looking for a Home
• First Time Buyers: How To Wade Through Real Estate Lingo
• What’s Just as Important As Location When Choosing a Home?
• 10 Things that are Good to Know Before Buying a Home
• Tips for your first Home Inspection
• Tips for Purchasing a Foreclosure
• Tips for Picking the Right Wisconsin Home

Just Sold! 56 Valley Street, Williams Bay, WI 

We are happy to announce a recent short sale home closing in Williams Bay, Wisconsin. Due to our extensive online advertising campaigns, we were able to bring in a buyer for this listing. This was a fantastic cozy but open concept home, sold at a great price! I'm sure the buyers will enjoy it for many years to come. Congratulations to everyone involved!

If you are thinking of selling or buying a home in Wisconsin, we would be happy to assist you.

Give Rock Realty a call at 877-774-7625. We are a full service real estate brokerage.

 
Madison, WI Homes for Sale

OTHER ARTICLES

• Getting Pre-Approved for a Mortgage Before Looking for a Home
• First Time Buyers: How To Wade Through Real Estate Lingo
• What’s Just as Important As Location When Choosing a Home?
• 10 Things that are Good to Know Before Buying a Home
• Tips for your first Home Inspection
• Tips for Purchasing a Foreclosure
• Tips for Picking the Right Wisconsin Home

The Wisconsin housing statistics are in for February of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

For the second straight month, home sales dropped as Wisconsin recorded its coldest winter in decades according to an analysis of February housing market activity released by the Wisconsin REALTORS® Association (WRA). Existing home sales dropped 10.1 percent relative to February 2013; however median prices actually increased substantially, rising 7.4 percent to $130,000 over the same 12 month period.

“We live in Wisconsin. We expect slow sales in February,” said Steve Lane, chairman of the WRA board of directors. “But we broke many records for cold temperatures this winter, so it’s not surprising this year’s February sales were off the 2013 pace,” Lane said. “Weather extremes weren’t the only thing that conspired to dampen sales. Median prices have grown consistently since March of 2012 and mortgage interest rates have been climbing and are now almost a full percentage point higher than this time last 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. This February showed a decrease of home sale statewide, but an increase in home prices. Dane County's prices stayed fairly stagnant year over year, while Rock County's median home price was up over 20%!

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 Rock County, WI Home Listings to search for current properties listed in Rock County or visit Dane County, WI Home Listings for homes in Dane County.

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? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

Just Sold! 1817 Anhalt Dr, Madison Wisconsin 53704

We are happy to announce a sale for another Madison Wisconsin Rock Realty home seller!

This home was the perfect little tri-level on Madison's East Side. The buyers got a great price on this bank accepted short sale. Congratulations to the buyers and our sellers on this successful Madison short sale transaction!

If you are thinking of selling or buying a home in Wisconsin, our home buyer specialists would be happy to assist you. Give Rock Realty a call at 877-774-7625. We are a full service real estate brokerage.

OTHER ARTICLES

• Getting Pre-Approved for a Mortgage Before Looking for a Home
• First Time Buyers: How To Wade Through Real Estate Lingo
• What’s Just as Important As Location When Choosing a Home?
• 10 Things that are Good to Know Before Buying a Home
• Tips for your first Home Inspection
• Tips for Purchasing a Foreclosure
• Tips for Picking the Right Wisconsin Home

1916 Clover Ln, Janesville WI 53545
Contact info:
Michael Collins | Rock Realty | 608-921-8536

4 Bedroom Janesville Ranch for Sale

1916 Clover Ln, Janesville, WI 53545

$110,000

KEY FEATURES
Year Built: 1975
Sq Footage: 1260 sqft.
Bedrooms: 4 Beds
Bathrooms: 1 Bath
Parking: 2 Garage
Laundry: In Unit
Lot Size: 10019 Square Feet
Property Type: Single Family House

DESCRIPTION

Wonderful 4 bedroom east side ranch with 2 car garage. Finished basement with bedroom and extra office. Wood burning fireplace in living room. Fenced yard with large deck. Short Sale

ADDITIONAL LINKS

• Website: 1916 Clover Lane, Janesville, WI 53545
• Virtual Tour: 1916cloverln.bestpricedhouse.com

Contact info: 
Michael Collins
Rock Realty
608-921-8536

Brodhead, WI Homes for Sale

The Wisconsin housing statistics are in for March of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Home sales dropped for the third straight month in Wisconsin as the frigid temperatures and hefty snowfall continued into March, according to the latest analysis of housing market activity released by the Wisconsin REALTORS® Association (WRA). Compared to March 2013, home sales declined 11.3 percent in March 2014, which contributed to a weak first quarter. First-quarter sales fell 8.5 percent compared to the first quarter of 2013. However, the median price of existing homes rose a modest 1.9 percent to $136,500 over the period between March 2013 and March 2014. Median prices were up 4.2 percent for the first quarter relative to the same quarter last year.

“Even with spring officially arriving in the middle of March, the spring selling season has been slow to gather steam,” said Steve Lane, chairman of the WRA board of directors. “We are hopeful that the spring thaw will jump-start the selling season that traditionally gains momentum in the second quarter,” Lane said. Still, Lane noted that the first quarter sales remain above their levels of two years ago — a year that had a relatively mild winter by comparison.

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. This month again showed a decrease of home sales statewide, but an increase in home prices. Dane County's prices increased around 4% in March, year over year, while Rock County's median home price stayed nearly the same. Rock County did show an increase in home sales though, in contrast with the rest of the state.

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 Home Listings in Rock County to search for current Rock County properties or visit Home Listings in Dane County for homes in Dane County Wisconsin.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! 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? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

4136 N River Rd, Janesville, WI 53545 - $190,000

2500 Square Foot Home on Waterfront Acreage

Well maintained riverfront property. With 2500 s/f and over an acre lot, this will not last long! Call Michael Collins at 608-921-8536 to schedule your showing! Click any image below to see additional details. Previously sold for $278,000 back in 2003!

Property Highlights

• 2 Car Garage
• Lot is on the River
• Over an Acre lot
• Fireplace
• Central Air
• Great Location

Features

We would like to introduce you to our home buyer specialist, Bethany Alexander, Realtor® serving the Oregon, Wisconsin area!

We are happy to announce the closing on another one of our short sale listings, this time in Madison, WI! This was a Bank of America negotiated short sale. Bank of America has made many changes to make their short sale process easier and more efficient. Short sale transactions can be complex, but if you have an experienced Short Sale Realtor® the process is much more manageable.

This was a beautiful home, at a great price that the new owners are 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 608-921-8536.

Is a Short Sale right for my situation??

If you are considering the possibility of a short sale for your home and have further questions, feel free to visit the page below:

Although home prices have not returned to the average of $196,000 like it was last year, it is getting close. When comparing home prices at different tiers, Madison is staying ahead of the rest of the state in all three tiers.  The following charts are from Zillow.  This first chart points out two facts.  First, the average price for a home in Wisconsin in the upper tier is around $232,000.  However, for Madison the price is approximately $295,000.  This points to the continued growth in the Madison area.  Secondly, while the average price in this tier only increased 0.2% for the state of Wisconsin, in Madison the price improved by 1.6% 

Rock Realty Client Testimonials

"I had a very challenging home sale and Mike Collins was diligent every step of the way. The most difficult aspect may have been me, I was very specific about which closing dates worked and how I wanted to proceed. Mike patiently answered all of my questions and accommodated all of my requests. When issues between the title and mortgage companies arose, Mike was a swift and competent negotiator. I know that the buyer's agent was very impressed with Mike as well. My house had an accepted offer within 10 days of listing. I am amazed that it all went so smoothly. THANKS MIKE!"

John B.(Madison, WI)
Rock Realty Seller Client

Thanks for the compliments, and Congratulations on your closing John!

Number of Foreclosures Showing Signs of Decreasing

The number of foreclosures in July 2012 is 10% lower than the amount from July 2011. Finally, it looks like the real estate market is making solid improvement. In fact, July 2012 is the 22nd month, in a row, to show a decline in foreclosure activity when compared to the same period from the previous year.

Overall, there is a 20%+ decrease in the annual number of homes being taken over by banks. The trends are taking place in at least 38 states as well as Washington, D.C.

As a whole, the nation is seeing that one home out of 686 homes is either in foreclosure or on the verge of repossession.

In comparison, Wisconsin shows one home out of 701 is facing foreclosure. Coupled with the news from last month that housing prices are on a steady rise; it does seem that the real estate market is getting back on the right track.

What does this mean for Buyers and Sellers?

In order to see how this is a good thing for both buyers and sellers, we have to look at the big picture. Fewer homes facing foreclosure would indicate that people who were out of work, or working at below average wages for their skill set, are now finding better paying jobs. The better jobs obviously are resulting in more money, aiding these families to get current on their bills. This would indicate the overall job market is improving. A better job market means more potential buyers that can purchase a home. That is great news for people who are in a position to sell a home.

The same type of facts has an impact on people looking to buy a home. An improving job market is good for those people that were out of work, fresh out of college or working at a job that was enough to pay the bills while they searched for a better option. More employment translates to more income, leading to more savings and an improved ability to pay for a mortgage.

What remains to be seen is the impact these improvements will have on the lending industry. One of the main problems that led to the real estate crash is the loose requirements that were in place allowing almost anybody access to a home mortgage. It is doubtful that mortgage lenders will return to those kinds of practices. However, it is a good assumption that lending rules will ease a bit in the coming months to help borrowers take advantage of the unprecedented rates that we have experienced for the last 3 years.

Here is today's market listings update for Active short sale single family homes located in Janesville Wisconsin. This information was pulled from the South Central Wisconsin MLS on 5/31/2012 at 10:30 A.M.

• 39 total short sale single family homes are listed in Janesville, WI
• Low listing price: $34,000
• High listing price: $399,900
• Average listing price: $109,992
• Median listing price: $84,900
• Average days on the market: 186

Of course these numbers change on a daily basis, so to obtain the most up to date information on current short sales for sale, please contact us directly at 608-921-8536. We would be happy to customize the search further for you to find the home that is just right for you.

As an extra benefit to Rock Realty home buyers, we offer a 1% broker commission rebate after closing. This could mean $1,500 back on a home purchase of $150,000. We love to hear how these rebates help our clients. Some use them for home improvements, while others simply put it in savings for future needs. It is a great option that we are happy to offer. Contact us for further details and limitations.

At Rock Realty, we currently have 4 great short sale homes listed for sale in Janesville. Feel free to visit our listings page linked below:

Wisconsin Home Listings 

Additional Short Sale Information

• Benefits of Buying an Owner-Occupied Wisconsin Short Sale
• Tips for Buying a Wisconsin Short Sale
• Buying a Wisconsin home after a Short Sale or Foreclosure
• What is a short sale?
• Is a Short Sale right for my home?
• Half of Homeowners Underwater on their Mortgage

Stepping away from the current economy and its effect on the housing market, lets turn to technology and marketing and how your home should be marketed in today’s techno atmosphere.

The truth of the times is that for the most part print advertising and marketing for real estate is slowly becoming a thing of the past. Not because Real Estate professionals necessarily want that to be the case but because our clients want that to be the case. Buyers and Sellers use home magazines, newspapers and phone book less and less as the internet gives them the instant information that they seek. Customers no longer need to initiate contact by phone conversation. They can simply find a home they like and send a message to an agent. The agent will then call them and initiate contact.

As a seller you should be aware of the new trends your agent should be using to market your home. If your agent begins his presentation with a sign in the yard and ends with an ad in the local newspaper, you may want to start asking some questions. Your listing agent needs to be up to date on all the techniques that buyers use to find homes and know the best ways to get your property in front of potential buyers, regardless of the medium.

A well rounded agent is able to combine the new with the old and develop a strong marketing plan that fits the needs of you, the seller as well as potential buyers that are looking for your property. Utelizing marketing techniques such as listing syndication, text messaging for information, QR codes on marketing flyers, facebook posts, twitter posts, linkedIn posts, writing blog posts about the property listing, and many other options. Those along with the sign that features text messaging options and contact rather than the blow away flyer and a possible empty box is the key to getting your listing in front of as many buyers as possible.

When choosing a listing agent, the marketing plan should be one of the hot button items you discuss. Make sure that whoever is working to list your property has a solid grasp on today’s technology and how he or she plan to use that technology to market your home.

Tim Brown,Owner/Broker, Realtor®, ABR,CRS,CDPE®,
Auctioneer NCAL#8560
Hines & Associates Realty
TeamHeidi
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
www.CarolinaHomes4Sale.com

Tim Brown is a Owner/Broker, Realtor®, ABR,CRS,CDPE®, Auctioneer NCAL#8560 with Hines & Associates Realty. He currently serves buyers and sellers in Charlotte, Mecklenburgh, Cabarrus, Cornelius, Huntersville, and other surrounding communities in North Carolina. Charlotte Real Estate, Charlotte Homes for Sale

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 there time?  Who has any extra money here? 

Once the price is set, a Listing Agent cannot simply let it rot.  If that price is too low..too many offers and the Lender will not go for it.  If the price is too high...why?? 

A Short Sale Listing Agent must have Sellers that co-operate and understand the plan of attack when the Listing is accepted.  Everyone agrees where they are in the process. 

When a Buyer's Agent calls and asks for explanation re: pricing, give it to them.  Be detailed.  There should be a method to the Short Sale pricing the List Agent has in place.  There are MANY scenarios for Short Sales..as many as there are types of loans and Lenders. 

Take your time at the start, establish the correct price for your particular Short Sale Sellers and stick with the program.  Get that local BPO and work it wisely...